Company: WW
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000950170-25-029511
Chunk: 173

Company: WW INTERNATIONAL, INC.
Filing Date: 2025-02-28
Form: 10-K
Item: Item 1B
Chunk 173
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-GAAP Financial Measures” above for an explanation of our use of non-GAAP financial measures.

Reducing leverage is a capital structure priority for the Company. As of December 28, 2024, our total debt less unamortized deferred financing costs and unamortized debt discount/net loss ratio was (4.1)x. As of December 28, 2024, our net debt/Adjusted EBITDAS ratio was 9.2x.

66

The table below sets forth the reconciliation for net debt, a non-GAAP financial measure, to total debt, the most comparable GAAP financial measure, for the fiscal year ended:

(in millions)

    December 28, 2024

    Total debt
     
    $
    1,445.0

    Less: Unamortized deferred financing costs

    6.9

    Less: Unamortized debt discount

    7.5

    Less: Cash on hand

    53.0

    Net debt
     
    $
    1,377.6

Note: Totals may not sum due to rounding.

We present EBITDAS, Adjusted EBITDAS and net debt/Adjusted EBITDAS because we consider them to be useful supplemental measures of our performance. In addition, we believe EBITDAS, Adjusted EBITDAS and net debt/Adjusted EBITDAS are useful to investors, analysts and rating agencies in measuring the ability of a company to meet its debt service obligations. See “—Non-GAAP Financial Measures” herein for an explanation of our use of these non-GAAP financial measures.

Contractual Obligations

We are obligated under non-cancelable agreements primarily for office and rent facilities operating leases. Consolidated rent expense charged to operations under all our leases for fiscal 2024 was approximately $15.5 million.

The following table summarizes our future contractual obligations as of the end of fiscal 2024:

    Payment Due by Period

    Less than

    More than

    Total

    1 Year

    1-3 Years

    3-5 Years

    5 Years

    (in millions)

    Long-Term Debt (1)

    Principal
     
    $
    1,445.0

    $
    —

    $
    10.0

    $
    1,435.0

    $
    —

    Interest

    365.3