SCHEDULE II Valuation and Qualifying Accounts

12 Months Ended

May 31, 2020

SCHEDULE II Valuation and Qualifying Accounts

SCHEDULE II Valuation and Qualifying Accounts

Schedule II – Lamb Weston - Valuation and Qualifying Accounts (dollars in millions).

			Additions
			Charged
	Balance		to Costs,		Deductions			Balance
	Beginning of		Expenses		from			End of
	Year		and Equity		Reserves			Year
Year ended May 31, 2020
Deferred tax asset valuation allowance	$	64.6	$	—	$	10.1		$	54.5
Year ended May 26, 2019
Deferred tax asset valuation allowance	$	62.0	$	3.7	$	1.1		$	64.6
Year ended May 27, 2018
Deferred tax asset valuation allowance	$	98.4	$	—	$	36.4	(a)	$	62.0

(a) Includes $31.2 million reduction resulting from the revaluation of U.S. deferred tax assets to the new 21% federal statutory tax rate as a result of the Tax Act.