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Asset Impairment and Other Charges, Net
9 Months Ended
Sep. 25, 2015
Asset Impairment and Other Charges, Net [Abstract]  
Asset Impairment and Other Charges, Net
Asset Impairment and Other Charges, Net
 
The following represents a summary of asset impairment and other charges (credits), net recorded during the quarters and nine months ended September 25, 2015 and September 26, 2014 (U.S. dollars in millions):

 
 
Quarter ended
 
Nine months ended
 
September 25, 2015
 
September 25, 2015
 
Long-lived
and other
asset
impairment (credits)
 
 
Exit activity
and other
charges (credits)
 
Total
 
Long-lived
and other
asset
impairment (credits)
 
 
Exit activity
and other
charges (credits)
 
Total
Banana segment:
 
 
 
 
 
 
 
 
 
 
 
Guatemala banana production assets held for sale
$
1.0

 
$

 
$
1.0

 
$
1.0

 
$

 
$
1.0

European Union Antitrust settlement gain

 

 

 

 
(0.8
)
 
(0.8
)
Other fresh produce segment:
 

 
 
 
 

 
 
 
 
 
 

Chile floods

 
0.5

 
0.5

 
1.2

 
0.8

 
2.0

Other fresh produce segment charges (credits)

 

 

 

 
(0.1
)
 
(0.1
)
Prepared food segment:
 
 
 
 
 
 
 
 
 
 
 
Other prepared food segment charges

 

 

 
0.2

 
0.1

 
0.3

Total asset impairment and other charges (credits), net
$
1.0

 
$
0.5

 
$
1.5

 
$
2.4

 
$

 
$
2.4




3.  Asset Impairment and Other Charges, Net (continued)
 
 
 
 
 
 
 
 
 
 
 
 
 
Quarter ended
 
Nine months ended
 
September 26, 2014
 
September 26, 2014
 
Long-lived
and other
asset
impairment (credits)
 
 
Exit activity
and other
charges (credits)
 
Total
 
Long-lived
and other
asset
impairment (credits)
 
 
Exit activity
and other
charges (credits)
 
Total
Banana segment:
 
 
 
 
 
 
 
 
 
 
 
Brazil termination of employee benefits due to decision to discontinue banana exports
$

 
$
0.2

 
$
0.2

 
$

 
$
1.3

 
$
1.3

United Kingdom contract termination on leased facility

 

 

 

 
0.7

 
0.7

Other fresh produce segment:
 

 
 
 
 

 
 

 
 

 
 

Hawaii favorable settlement of litigation

 

 

 

 
(2.9
)
 
(2.9
)
Intangible asset write-off

 

 

 
0.3

 

 
0.3

United Kingdom termination of employee benefits due to restructuring

 

 

 

 
0.1

 
0.1

Prepared food segment:
 
 
 
 
 
 
 
 
 
 
 
Germany termination of employee benefits due to restructuring

 

 

 

 
0.6

 
0.6

Total asset impairment and other charges (credits), net
$

 
$
0.2

 
$
0.2

 
$
0.3

 
$
(0.2
)
 
$
0.1



Exit Activity and Other Reserves

The following is a rollforward of 2015 exit activity and other reserves (U.S. dollars in millions):
 
 
Exit activity and
other reserve
balance at
December 26,
2014
 
Impact to
Earnings
 
Cash Paid
 
Foreign Exchange Impact
 
Exit activity and
other reserve
balance at
September 25,
2015
Termination benefits
$
0.1

 
$
0.1

 
$
(0.2
)
 
$

 
$

Contract termination and other exit activity charges
2.5

 

 
(1.4
)
 
0.3

 
1.4

 
$
2.6

 
$
0.1

 
$
(1.6
)
 
$
0.3

 
$
1.4



Exit activity and other reserve balances are included in accounts payable and accrued expenses at September 25, 2015. These amounts are contract termination costs primarily related to the underutilized facilities in the United Kingdom, in the banana segment. We do not expect additional charges related to the exit and other activities mentioned above that would significantly impact our results of operations or financial condition.