Company: LW
Filing Date: 2025-04-03
Form Type: 10-Q
Source: 0001679273-25-000026
Chunk: 64

Company: Lamb Weston Holdings, Inc.
Filing Date: 2025-04-03
Form: 10-Q
Item: Part I, Item 8
Chunk 64
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 plant charges.(c)Includes the cost of contracted raw potatoes that will not be used due to curtailed production and the write-off of inventories, including spare parts, related to the production curtailment under the Restructuring Plan. (d)Includes employee severance and other one-time termination benefits related to the reduction in headcount under the Restructuring Plan.The following amounts related to the Restructuring Plan are included in the Company’s Consolidated Statements of Earnings:(in millions)Thirteen Weeks Ended February 23, 2025Thirty-Nine Weeks Ended February 23, 2025Restructuring Plan expenses included in:Cost of sales$0.7 $76.2 Restructuring expense9.6 84.2 Equity method investment earnings— 9.0 $10.3 $169.4 During the thirty-nine weeks ended February 23, 2025, we paid $71.3 million in Restructuring Plan expenses; accruals remaining under the Restructuring Plan of $48.9 million are recorded as current liabilities within “Accounts payable” and “Accrued liabilities” in the accompanying Consolidated Balance Sheet at February 23, 2025.

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5. INVENTORIES

Inventories are valued at the lower of cost (determined using the first-in, first-out method) or net realizable value and include all costs directly associated with manufacturing products: materials, labor, and manufacturing overhead. The components of inventories were as follows:(in millions)February 23,2025May 26,2024Raw materials and packaging$259.0 $178.7 Finished goods887.1 867.9 Supplies and other103.2 92.0 Inventories$1,249.3 $1,138.6 

6. PROPERTY, PLANT AND EQUIPMENT

The components of property, plant and equipment were as follows:(in millions)February 23,2025May 26,2024Land and land improvements$188.1 $186.2 Buildings, machinery and equipment4,978.0 4,708.8 Furniture, fixtures, office equipment and other 154.3 127.7 Construction in progress531.0 688.2 Property, plant and equipment, at cost5,851.4 5,710.9 Less accumulated depreciation(2,266.