INVESTMENTS IN JOINT VENTURES	3 Months Ended
Aug. 25, 2019
INVESTMENTS IN JOINT VENTURES
INVESTMENTS IN JOINT VENTURES	9. INVESTMENTS IN JOINT VENTURES Variable Interest Entity - Consolidated On November 2, 2018, we entered into an agreement to acquire the remaining 50.01% interest in Lamb Weston BSW. Our Consolidated Statement of Earnings includes 100% of Lamb Weston BSW’s earnings beginning November 2, 2018. Prior to entering into the agreement, Lamb Weston BSW was considered a variable interest entity, and we determined that we were the primary beneficiary of the entity. Accordingly, we consolidated the financial statements of Lamb Weston BSW and deducted 50.01% of the operating results of the noncontrolling interests to arrive at “Net income attributable to Lamb Weston Holdings, Inc.” on our Consolidated Statements of Earnings. Prior to November 2, 2018, Lamb Weston and Lamb Weston BSW purchased potatoes and utilized storage facilities and water treatment services from a shareholder of Ochoa. While we continue to purchase such goods and services, subsequent to November 2, 2018, the shareholder of Ochoa is no longer considered a related party. The aggregate amounts of potato purchases was $17.5 million for the thirteen weeks ended August 26, 2018. The aggregate amount of storage facilities and water treatment service costs were $1.2 million for the thirteen weeks ended August 26, 2018. Other Investments and Variable Interest Entity - Not Consolidated We hold a 50% ownership interest in Lamb-Weston/Meijer v.o.f. (“Lamb-Weston/Meijer”), a joint venture with Meijer Frozen Foods B.V., which is headquartered in the Netherlands and manufactures and sells frozen potato products principally in Europe. We also hold a 50% interest in Lamb-Weston/RDO Frozen (“Lamb Weston RDO”), a potato processing venture based in the United States. We account for these investments using equity method accounting. The carrying value of our equity method investments, which include Lamb-Weston/Meijer and Lamb Weston RDO, at August 25, 2019 and May 26, 2019, was $225.5 million and $224.6 million, respectively. These amounts are included in “Equity method investments” on our Consolidated Balance Sheets. For the thirteen weeks ended August 25, 2019 and August 26, 2018, we had sales to our equity method investments of $7.3 million and $6.5 million, respectively, and payments to our equity method investments of $3.2 million and $2.7 million, respectively. Total dividends from our equity method investments were $10.2 million and $16.6 million for the thirteen weeks ended August 25, 2019 and August 26, 2018, respectively.

INVESTMENTS IN JOINT VENTURES

3 Months Ended

Aug. 25, 2019

9. INVESTMENTS IN JOINT VENTURES

Variable Interest Entity - Consolidated

On November 2, 2018, we entered into an agreement to acquire the remaining 50.01% interest in Lamb Weston BSW. Our Consolidated Statement of Earnings includes 100% of Lamb Weston BSW’s earnings beginning November 2, 2018. Prior to entering into the agreement, Lamb Weston BSW was considered a variable interest entity, and we determined that we were the primary beneficiary of the entity. Accordingly, we consolidated the financial statements of Lamb Weston BSW and deducted 50.01% of the operating results of the noncontrolling interests to arrive at “Net income attributable to Lamb Weston Holdings, Inc.” on our Consolidated Statements of Earnings.

Prior to November 2, 2018, Lamb Weston and Lamb Weston BSW purchased potatoes and utilized storage facilities and water treatment services from a shareholder of Ochoa. While we continue to purchase such goods and services, subsequent to November 2, 2018, the shareholder of Ochoa is no longer considered a related party. The aggregate amounts of potato purchases was $17.5 million for the thirteen weeks ended August 26, 2018. The aggregate amount of storage facilities and water treatment service costs were $1.2 million for the thirteen weeks ended August 26, 2018.

Other Investments and Variable Interest Entity - Not Consolidated

We hold a 50% ownership interest in Lamb-Weston/Meijer v.o.f. (“Lamb-Weston/Meijer”), a joint venture with Meijer Frozen Foods B.V., which is headquartered in the Netherlands and manufactures and sells frozen potato products principally in Europe. We also hold a 50% interest in Lamb-Weston/RDO Frozen (“Lamb Weston RDO”), a potato processing venture based in the United States. We account for these investments using equity method accounting.

The carrying value of our equity method investments, which include Lamb-Weston/Meijer and Lamb Weston RDO, at August 25, 2019 and May 26, 2019, was $225.5 million and $224.6 million, respectively. These amounts are included in “Equity method investments” on our Consolidated Balance Sheets. For the thirteen weeks ended August 25, 2019 and August 26, 2018, we had sales to our equity method investments of $7.3 million and $6.5 million, respectively, and payments to our equity method investments of $3.2 million and $2.7 million, respectively. Total dividends from our equity method investments were $10.2 million and $16.6 million for the thirteen weeks ended August 25, 2019 and August 26, 2018, respectively.