XML 39 R28.htm IDEA: XBRL DOCUMENT v3.10.0.1
Asset Impairment and Other Charges, Net (Tables)
 9 Months Ended
Sep. 28, 2018
Asset Impairment and Other Charges, Net [Abstract]  
Summary of asset impairment and exit activity and other charges (credits)
The following represents a summary of asset impairment and other charges, net recorded during the quarter and nine months ended September 28, 2018 (U.S. dollars in millions):
 
Quarter ended
 
Nine months ended
 
September 28, 2018
 
September 28, 2018
 
Long-lived
and other
asset
impairment
 
 
Exit activity and other
charges
 
Total
 
Long-lived
and other
asset
impairment
 
 
Exit activity and other
charges/(credits)
 
Total
Banana segment:
 
 
 
 
 
 
 
 
 
 
 
Philippine exit activities of certain low-yield areas
$
11.8

 
$
0.3

 
$
12.1

 
$
30.0

 
$
0.3

 
$
30.3

Underutilized assets in Central America
1.1

 
—

 
1.1

 
1.1

 
—

 
1.1

Other fresh produce segment:
 

 
 
 
 

 
 
 
 
 
 

Chile severance due to restructuring as a result of cost reduction initiatives
—

 
0.8

 
0.8

 
—

 
2.5

 
2.5

Underutilized assets in Central America
0.5

 
 
 
0.5

 
0.5

 
 
 
0.5

Acquisition costs related to
Mann Packing (1)
—

 
—

 
—

 
—

 
2.6

(1 
) 
2.6

Sanger insurance recoveries due to inclement weather conditions
—

 
—

 
—

 
—

 
(0.9
)
 
(0.9
)
Other acquisition costs
—

 
—

 
—

 
—

 
0.3

 
0.3

Total asset impairment and
other charges, net
$
13.4

 
$
1.1

 
$
14.5

 
$
31.6

 
$
4.8

 
$
36.4

 
 
 
 
 
 
 
 
 
 
 
 
 
Quarter ended
 
Nine months ended
 
September 29, 2017
 
September 29, 2017
 
Long-lived
and other
asset
impairment
 
 
Exit activity
and other
charges
 
Total
 
Long-lived
and other
asset
impairment
 
 
Exit activity and other
charges/(credits)
 
Total
Banana segment:
 
 
 
 
 
 
 
 
 
 
 
Philippines floods
$
—

 
$
—

 
$
—

 
$
0.8

 
$
—

 
$
0.8

Chile floods clean up costs
—

 
0.7

 
0.7

 
—

 
0.7

 
0.7

Chile Floods
—

 
—

 
—

 
0.8

 
—

 
0.8

Underutilized assets in Central America
—

 
—

 
—

 
0.6

 
—

 
0.6

Other fresh produce segment:
 

 
 
 
 

 
 
 
 
 
 

Chile insurance proceeds on floods
—

 
—

 
—

 
 
 
(2.2
)
 
(2.2
)
Total asset impairment and
other charges (credits), net
$
—

 
$
0.7

 
$
0.7

 
$
2.2

 
$
(1.5
)
 
$
0.7


(1) Acquisition costs relate to the Mann Packing Co. Inc. and subsidiaries ("Mann Packing") Acquisition. Refer to Note 5 , "Acquisition."
Rollforward of exit activity and other reserves
The following is a rollforward of 2018 exit activity and other reserves (U.S. dollars in millions):
 
Exit activity and
other reserve
balance at
December 29, 2017
 
Impact to
earnings
 
Cash paid
 
Foreign exchange impact
 
Exit activity and
other reserve
balance at
September 28,
2018
Termination benefits
$
—

 
$
2.8

 
$
(2.7
)
 
$
—

 
$
0.1

Contract termination and other exit activity charges
0.3

 
—

 
(0.3
)
 
—

 
—

 
$
0.3

 
$
2.8

 
$
(3.0
)
 
$
—

 
$
0.1