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SEGMENTS (Tables)
3 Months Ended
Aug. 26, 2018
SEGMENTS  
Schedule of segment information

 

 

 

 

 

 

 

 

 

Thirteen Weeks Ended

 

    

August 26,

    

August 27,

(in millions)

 

2018

 

2017

Net sales:

 

 

  

 

 

  

Global

 

$

466.8

 

$

413.9

Foodservice

 

 

297.8

 

 

279.4

Retail

 

 

116.2

 

 

92.0

Other

 

 

34.1

 

 

32.2

Total net sales

 

 

914.9

 

 

817.5

Product contribution margin (a):

 

 

  

 

 

  

Global

 

 

94.5

 

 

74.4

Foodservice

 

 

102.0

 

 

90.8

Retail

 

 

22.7

 

 

16.5

Other

 

 

5.0

 

 

11.2

Total product contribution margin

 

 

224.2

 

 

192.9

Other selling, general and administrative expenses (a) (b)

 

 

71.6

 

 

55.3

Income from operations

 

 

152.6

 

 

137.6

Interest expense, net

 

 

26.8

 

 

25.2

Income tax expense (c)

 

 

34.3

 

 

44.1

Equity method investment earnings (d)

 

 

19.9

 

 

20.0

Net income

 

 

111.4

 

 

88.3

Less: Income attributable to noncontrolling interests

 

 

3.6

 

 

4.9

Net income attributable to Lamb Weston Holdings, Inc.

 

$

107.8

 

$

83.4


(a)

Product contribution margin is defined as net sales, less cost of sales and advertising and promotion expenses. Other selling, general and administrative expenses include all selling, general and administrative expenses other than advertising and promotion expenses.

 

(b)

The thirteen weeks ended August 27, 2017 includes $2.2 million of pre-tax expenses related to the Separation.  The expenses related primarily to professional fees and other employee-related costs.