Company: LW
Filing Date: 2025-04-03
Form Type: 10-Q
Source: 0001679273-25-000026
Chunk: 48

Company: Lamb Weston Holdings, Inc.
Filing Date: 2025-04-03
Form: 10-Q
Item: Part I, Item 1
Chunk 48
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, such as net income, gross profit, SG&A, restructuring expense, equity method investment earnings, or other measures prescribed by GAAP, and there are limitations to using non-GAAP financial measures. For example, the non-GAAP financial measures presented in this report may differ from similarly titled non-GAAP financial measures presented by other companies, and other companies may not define these non-GAAP financial measures the same way we do.

The following table reconciles net income to Adjusted EBITDA:

Thirteen Weeks EndedThirty-Nine Weeks Ended(in millions)February 23,2025February 25,2024February 23,2025February 25,2024Net income (a)$146.0 $146.1 $237.3 $595.8 Interest expense, net47.3 35.7 135.8 95.5 Income tax expense57.5 43.1 121.7 179.3 Income from operations including equity method investment earnings250.8 224.9 494.8 870.6 Depreciation and amortization (b)98.5 80.0 282.4 222.0 Unrealized derivative (gains) losses(5.9)27.3 (11.8)1.6 Foreign currency exchange losses7.0 16.4 17.2 21.8 Blue chip swap transaction gains (c)(0.6)(7.4)(20.5)(14.5)Items impacting comparability:Restructuring Plan expenses (d)10.3 — 169.4 — Shareholder activism expense (e)3.7 — 4.1 — Inventory step-up from acquisition— — — 20.7 Integration and acquisition-related items, net— 2.4 — 11.2 Adjusted EBITDA$363.8 $343.6 $935.6 $1,133.4 

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(a)Net income reflects the following: 

i.During the thirteen and thirty-nine weeks ended February 23, 2025, we recorded an approximately $9 million ($7 million after-tax, or $0.05 per share) benefit and $31 million ($24 million after-tax, or $0.17 per share) charge related to the voluntary product withdrawal that was initiated in the fourth quarter of fiscal 202