Lamb Weston Holdings, Inc. PP&E Disclosure
| (in millions) | May 25, 2025 | May 26, 2024 | ||||||||||||
| Land and land improvements | $ | 191.6 | $ | 186.2 | ||||||||||
| Buildings, machinery and equipment | 5,136.3 | 4,708.8 | ||||||||||||
| Furniture, fixtures, office equipment and other | 161.9 | 127.7 | ||||||||||||
| Construction in progress | 551.7 | 688.2 | ||||||||||||
| Property, plant and equipment, at cost | 6,041.5 | 5,710.9 | ||||||||||||
| Less accumulated depreciation | (2,353.6) | (2,128.1) | ||||||||||||
| Property, plant and equipment, net | $ | 3,687.9 | $ | 3,582.8 | ||||||||||
| Land improvements | 1-30 years | |||||||
| Buildings | 10-40 years | |||||||
| Machinery and equipment | 5-20 years | |||||||
| Furniture, fixtures, office equipment, and other | 3-15 years | |||||||
| For the Fiscal Years Ended May | ||||||||||||||||||||
| (in millions) | 2025 | 2024 | 2023 | |||||||||||||||||
| Depreciation - COS | $ | 323.7 | $ | 266.1 | $ | 202.2 | ||||||||||||||
| Depreciation - SG&A | 15.0 | 12.1 | 9.1 | |||||||||||||||||
| Depreciation - Restructuring expense (a) | 32.8 | — | — | |||||||||||||||||
| $ | 371.5 | $ | 278.2 | $ | 211.3 | |||||||||||||||
| Amortization | $ | 31.4 | $ | 19.6 | $ | 7.0 | ||||||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Jul 23, 2025 | Showing above |
| 2019 | Jul 25, 2019 | |
About PP&E Disclosures
The PP&E disclosure details a company's physical asset base — land, buildings, machinery, and equipment — along with the depreciation methods and useful life assumptions that determine how these costs flow through the income statement. Capitalization policy thresholds reveal management's judgment on the boundary between expense and asset, directly affecting both reported earnings and asset values.
Key signals: changes in estimated useful lives or depreciation methods can materially shift reported earnings without any operational change. Compare capital expenditures against depreciation expense — when capex consistently trails depreciation, the asset base may be aging and underinvested. Watch for large asset impairments or write-downs that signal overvalued carrying amounts. Asset retirement obligations reveal future environmental or decommissioning costs that are often underappreciated. Compare PP&E intensity (PP&E-to-revenue) against industry peers to assess capital efficiency and competitive positioning.