Property, Plant and Equipment, Net

Property, plant and equipment consisted of the following (U.S. dollars in millions):



	December 27, 2013			December 28, 2012
Land and land improvements	$	566.8		$	529.4
Buildings and leasehold improvements	440.6			426.6
Machinery and equipment	458.1			432.4
Maritime equipment (including containers)	184.3			183.9
Furniture, fixtures and office equipment	77.7			75.8
Automotive equipment	54.8			50.8
Construction-in-progress	64.7			24.8
	1,847.0			1,723.7
Less: accumulated depreciation and amortization	(745.8		)	(699.1		)
Property, plant and equipment, net	$	1,101.2		$	1,024.6

Depreciation and amortization expense on property, plant and equipment, including assets under capital leases, was $68.7 million, $69.2 million and $72.1 million for 2013, 2012 and 2011, respectively.

Shipping containers, machinery and equipment and automotive equipment under capital leases totaled $2.4 million and $9.8 million at December 27, 2013 and December 28, 2012, respectively. Accumulated amortization for assets under capital leases was $1.3 million and $5.3 million at December 27, 2013 and December 28, 2012, respectively.

For the years 2013, 2012 and 2011, the loss (gain) on sales of property, plant and equipment included a loss of $4.9 million, and gains of $0.2 million and $3.1 million, respectively. In 2013, the loss of $4.9 million primarily related to the disposal of low-yielding banana plants in Central America in order to replant and improve productivity, partially offset by a gain on the disposal of a refrigerated vessel and other surplus equipment. In 2012, the gain on sale of property, plant and equipment of $0.2 million is primarily related to the sale of shipping-related and other surplus equipment in the banana segment. In 2011, the gain on sales of property, plant and equipment of $3.1 million are primarily related to the sale of four refrigerated vessels in the banana segment and properties in South America primarily in the other fresh produce segment.

Acquisitions and Asset Purchase

During October 2013, we acquired approximately 7,200 total acres of tomato agricultural production land, packing houses and farm equipment located in Florida and Virginia. The assets were acquired using operating cash flows and available borrowings under the Credit Facility (as defined in Note 11), for a purchase price of approximately $36.8 million and was accounted for as an asset purchase.

During the fourth quarter of 2013, we completed the acquisition of a pineapple plantation in Costa Rica of approximately 1,850 total acres consisting of agricultural production land, packing houses and farm equipment. The purchase price for this business combination was $19.4 million, of which $18.5 million was paid using operating cash flows and available borrowings under the Credit Facility (as defined in Note 11); the remaining will be paid during 2014. Goodwill represents the excess purchase price above the fair market value of the net assets acquired. Based on the purchase price allocation, $0.3 million in goodwill was allocated to the other fresh produce segment.

6. Property, Plant and Equipment, Net (continued)

The following is an unaudited condensed balance sheet as of the acquisition date based on the assessment of fair value including the major captions of assets acquired (U.S. dollars in millions):



Property, plant and equipment, net	$	16.8
Inventories	2.3
Estimated fair market value of net assets acquired	19.1
Purchase Price	19.4
Goodwill	$	0.3

During the fourth quarter of 2013, we completed the acquisition of a banana plantation in the Philippines for a purchase price of $5.3 million. There was no goodwill resulting from this business combination.

The acquisition of the pineapple farm in Costa Rica and the banana farm in the Philippines were accounted for under the acquisition method as described in the ASC on "Business Combinations".

See Note 7 , "Goodwill and Other Intangible Assets" and Note 11, "Long-Term Debt and Capital Lease Obligations" for further information.