JOINT VENTURE INVESTMENTS (Tables)

3 Months Ended

Aug. 28, 2022

JOINT VENTURE INVESTMENTS

Schedule of equity method investments

	August 28,		May 29,
(in millions)	2022		2022
LWM (a)	$	347.8	$	211.2
Lamb-Weston/RDO Frozen ("Lamb Weston RDO") (b)		24.1		19.4
LWAMSA (c)		—		26.1
Other		0.6		0.7
	$	372.5	$	257.4

(a) We own 50% of LWM, a joint venture with Meijer Frozen Foods B.V., headquartered in the Netherlands that manufactures and sells frozen potato products principally in Europe and the Middle East. The investment balance includes $146.3 million of unrealized gains related to mark-to-market adjustments associated with changes in natural gas and electricity derivatives as commodity markets in Europe have experienced significant volatility during the thirteen weeks ended August 28, 2022. In September 2022, LWM completed the previously announced withdrawal from its joint venture in Russia.

(b) We own 50% of Lamb Weston RDO, a joint venture with RDO Frozen Co., that operates a potato processing facility in the U.S.

(c) In July 2022, we acquired an additional 40% interest in LWAMSA, increasing our total ownership to 90% and began consolidating the joint venture.