Lamb Weston Holdings Inc
For the period ended Nov 26, 2023. Filed Jan 4, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Nov 26, 2023 · Filed Jan 4, 2024
LW$57.11-0.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Cash Flows
(unaudited, in millions)
| | | | | | | |
|---|---|---|---|---|---|---|
| · · Twenty-Six Weeks Ended | ||||||
| · November 26, · November 27, | ||||||
| · · 2023 · · 2022 | ||||||
| Cash flows from operating activities | | | | | | |
| Net income | | $449.8 | | $335.0 | ||
| Adjustments to reconcile net income to net cash provided by operating activities: | | | | | | |
| Depreciation and amortization of intangibles and debt issuance costs | | | 140.7 | | | 102.0 |
| Stock-settled, stock-based compensation expense | | | 22.2 | | | 17.6 |
| Equity method investment earnings in excess of distributions | | | (11.3) | | | (67.6) |
| Deferred income taxes | | | 5.8 | | | (6.8) |
| Foreign currency remeasurement gain | | | (0.1) | | | (16.8) |
| Other | | | (1.3) | | | (13.2) |
| Changes in operating assets and liabilities, net of acquisitions: | | | | | | |
| Receivables | | | (35.2) | | | (54.8) |
| Inventories | | | (216.0) | | | (240.1) |
| Income taxes payable/receivable, net | | | 27.6 | | | 24.8 |
| Prepaid expenses and other current assets | | | 68.8 | | | 52.7 |
| Accounts payable | | | 96.1 | | | 140.6 |
| Accrued liabilities | | | (91.9) | | | 14.6 |
| Net cash provided by operating activities | | $455.2 | | $288.0 | ||
| Cash flows from investing activities | | | | | | |
| Additions to property, plant and equipment | | | (507.6) | | | (232.9) |
| Additions to other long-term assets | | | (58.9) | | | (37.4) |
| Acquisition of interests in joint venture, net | | | — | | | (42.3) |
| Acquisition of business, net of cash acquired | | | (11.2) | | | — |
| Other | | | 6.9 | | | 1.6 |
| Net cash used for investing activities | | $(570.8) | | $(311.0) | ||
| Cash flows from financing activities | | | | | | |
| Proceeds from short-term borrowings, net | | | 133.7 | | | — |
| Proceeds from issuance of debt | | 28.4 | | | 23.3 | |
| Repayments of debt and financing obligations | | | (27.7) | | | (16.7) |
| Dividends paid | | | (81.6) | | | (70.6) |
| Repurchase of common stock and common stock withheld to cover taxes | | | (164.3) | | | (34.9) |
| Other | | | (0.5) | | | 2.3 |
| Net cash used for financing activities | | $(112.0) | | $(96.6) | ||
| Effect of exchange rate changes on cash and cash equivalents | | | 1.1 | | | 14.0 |
| Net decrease in cash and cash equivalents | | (226.5) | | (105.6) | ||
| Cash and cash equivalents, beginning of period | | | 304.8 | | | 525.0 |
| Cash and cash equivalents, end of period | | $78.3 | | $419.4 | ||
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