Company: LW
Filing Date: 2025-08-07
Form Type: ARS
Source: 0001679273-25-000063
Chunk: 64

Company: Lamb Weston Holdings, Inc.
Filing Date: 2025-08-07
Form: ARS
Chunk 64
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 should be viewed in addition to, and not as alternatives for, financial measures prepared in accordance with GAAP that are also presented in this report. These measures are not substitutes for their comparable GAAP financial measures, such as net income, gross profit, SG&A, 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: For the Fiscal Years Ended May (in millions) 2025 2024 Net income (a) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 357.2 $ 725.5 Interest expense, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 180.0 135.8 Income tax expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 143.1 230.0 Income from operations including equity method investment earnings . . . . . . . . . . . . . . . . . . 680.3 1,091.3 Depreciation and amortization (b) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 378.2 306.2 Unrealized derivative gains . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .