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SEGMENTS
 3 Months Ended
Aug. 30, 2026
Segment Reporting [Abstract]  
SEGMENTS SEGMENTS
We manage our operations in two business segments, North America and International. As a result of how we manage the business, we have two operating segments, each of which is a reportable segment: North America and International. North America includes activity that occurs in the United States, Canada, and Mexico. International includes all activity that does not occur within the North America segment. Both segments primarily manufacture frozen potato products for sale to our customers. These reportable segments are each managed by a general manager and supported by a cross-functional team assigned to support the segment.
Our chief operating decision maker group (the “CODM group”) is made up of our executive chair and president and chief executive officer. The CODM group receives periodic management reports under our segment structure. Our disclosure presents significant segment expenses based on updated reporting, which is now regularly provided to the CODM group. The Company measures profit or loss for each reportable segment using segment adjusted earnings before interest, taxes, depreciation, amortization, unrealized mark-to-market derivative gains and losses (which are a component of both cost of sales and selling, general and administrative expenses), foreign currency exchange gains and losses (which are a component of selling, general and administrative expenses), stock-based compensation expense (which is a component of selling, general and administrative expense), and comparability items (which are a component of both cost of sales and selling, general and administrative expenses) (“Segment Adjusted EBITDA”)
Net sales and Segment Adjusted EBITDA inform operating decisions, performance assessment, and resource allocation decisions at the segment level. The CODM group uses net sales and Segment Adjusted EBITDA in the annual operating plan and forecasting process and considers actual versus plan variances in assessing the performance of each segment. Total asset information by segment is not regularly provided to the CODM group or utilized for purposes of assessing performance or allocating resources by segment and the amount of net sales for each of our segments generated from these facilities can change from fiscal year to fiscal year. As a result, such information has not been presented below. The manufacturing assets are shared across both reporting segments. As shown in the table below, we allocate depreciation and amortization to our reporting segments based primarily on net sales generated in each segment.
The following table illustrates reportable segment net sales and Segment Adjusted EBITDA for the thirteen weeks ended August 30, 2026 and August 24, 2025, respectively.
Thirteen Weeks Ended
August 30, 2026August 24, 2025
(in millions)North AmericaInternationalTotalNorth AmericaInternationalTotal
Net sales$1,141.4 $528.9 $1,670.3 $1,084.6 $574.7 $1,659.3 
Less significant segment expenses:
Cost of sales846.1 506.4 807.1 515.2 
Selling, general and administrative expenses74.6 36.9 74.4 39.3 
Other segment items (a)(6.2)— 0.6 — 
Add depreciation and amortization60.4 40.9 57.5 37.0 
Segment Adjusted EBITDA$287.3 $26.5 $313.8 $260.0 $57.2 $317.2 
Unallocated corporate costs (b)(28.2)(15.0)
Depreciation and amortization101.8 96.3 
Unrealized derivative (gains) losses0.7 (4.9)
Foreign currency exchange (gains) losses12.4 (4.7)
Stock-based compensation15.1 10.6 
Items impacting comparability:
Cost Savings Program, Restructuring Plan, and other expenses (c)34.2 31.9 
Legal proceedings and other claims (d)33.0 — 
Shareholder activism expense (e)— 4.0 
Pension settlement (f)— 13.1 
Interest expense, net42.4 43.7 
Income before income taxes46.0 112.2 
Income tax expense16.9 47.9 
Net income$29.1 $64.3 
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(a)Other segment items include (earnings) or loss from equity method investments.
(b)Unallocated corporate costs include costs related to corporate support staff and support services, which include, but are not limited to, our administrative, information technology, human resources, finance, and accounting functions that are not specifically allocated to the segments. In the table, unallocated corporate costs exclude unrealized derivative gains and losses, foreign currency exchange gains and losses, stock-based compensation expense, and other items impacting comparability. These items are added back to reconcile Segment Adjusted EBITDA to net income.
(c)Cost Savings Program, Restructuring Plan, and other expenses relate to costs incurred under the Restructuring Plans. See Note 4, Cost Savings Program and Restructuring, of these Condensed Notes to Consolidated Financial Statements for additional information.
(d)Represents accruals for legal proceedings and other claims as described in Note 14, Commitments, Contingencies, Guarantees and Legal Proceedings, of these Condensed Notes to Consolidated Financial Statements.
(e)Represents advisory fees related to shareholder activism matters.
(f)Represents costs associated with fully funding the Company’s defined benefit pension plan, enabling lump sum payments to participants and transferring the remaining obligations and related plan assets to an insurer through a group annuity contract.