Company: LW
Filing Date: 2025-04-03
Form Type: 10-Q
Source: 0001679273-25-000026
Chunk: 63

Company: Lamb Weston Holdings, Inc.
Filing Date: 2025-04-03
Form: 10-Q
Item: Part I, Item 8
Chunk 63
---
 Statements for more information about the Restructuring Plan.Income Taxes Paid

Income taxes paid, net of refunds, were $123.6 million and $140.4 million during the thirty-nine weeks ended February 23, 2025 and February 25, 2024, respectively. 

9

4. RESTRUCTURING PLAN

On October 1, 2024, we announced the Restructuring Plan, which is designed to drive operational and cost efficiencies and improve cash flows. The Restructuring Plan includes the permanent closure of our manufacturing facility in Connell, Washington, the temporary curtailment of certain production lines and schedules across our manufacturing network in North America, and reductions in employee headcount, other operating expenses, and capital expenditures. In connection with the Restructuring Plan, we expect to recognize total pre-tax charges of $190 million to $210 million. We expect actions in connection with the Restructuring Plan will be substantially complete by the end of the fourth quarter of fiscal 2025 or early fiscal 2026, and the majority of the remaining charges will relate to facility closure and employee-related costs. Any changes to these estimates or timing will be reflected in our results of operations in future periods.For the thirteen and thirty-nine weeks ended February 23, 2025, we recorded $10.3 million and $169.4 million of pre-tax charges, of the total charges, $120.2 million were cash and $49.2 million were non-cash. (in millions)Thirteen Weeks Ended February 23, 2025Thirty-Nine Weeks Ended February 23, 2025Restructuring Plan expenses related to (a):Accelerated depreciation, retirement of assets, and other plant charges (b)$7.2 $53.0 Potato contract terminations (c)(3.2)61.5 Inventory write-off (c)3.9 23.7 Employee-related costs (d)0.7 16.9 Other restructuring charges1.7 14.3 $10.3 $169.4 ___________________________________________(a)These charges were included as “unallocated corporate costs” before being reconciled in the Segment Adjusted EBITDA to Net income table in Note 13, Segments, of these Condensed Notes to the Consolidated Financial Statements. (b)Includes charges related to accelerating depreciation of the manufacturing facility permanently closed under the Restructuring Plan, other asset retirements, and