Bernadette Madarieta
CFO at Lamb Weston
Capital expenditures for fiscal twenty twenty five, net of proceeds from blue chip swap transactions in Argentina, were $651,000,000 down $323,000,000 with our expansion projects nearing completion. We ended the year below our initial $750,000,000 target due to continued capital discipline, cost savings initiatives, and the timing of projects and cash outlays. For fiscal twenty six, our capital spending is expected to be approximately $500,000,000 with approximately $400,000,000 in maintenance and modernization and $100,000,000 for environmental projects, which are mostly for wastewater treatment. On slide 22, you can see that we remain committed to returning cash to shareholders. For the year, we returned $489,000,000 In the fourth quarter, we repurchased $100,000,000 of shares and $282,000,000 in the year, leaving us with $358,000,000 available under the plan.