Asset Impairment and Other Charges, Net

6 Months Ended

Jun. 26, 2020

Asset Impairment and Other Charges, Net [Abstract]

Asset Impairment and Other Charges, Net

Asset Impairment and Other Charges (Credits), Net

The following represents a summary of asset impairment and other charges (credits), net recorded during the quarters and six months ended June 26, 2020 and June 28, 2019 (U.S. dollars in millions):

	Quarter ended						Six months ended
	June 26, 2020						June 26, 2020
	Long-lived and other asset impairment		Exit activity and other charges (credits)		Total		Long-lived and other asset impairment		Exit activity and other charges (credits)		Total
Banana segment:
California Air Resource Board reserve(1)	$	—	$	0.5	$	0.5	$	—	$	1.3	$	1.3
Philippine exit activities of certain low-yield areas	0.7		—		0.7		0.7		—		0.7
Fresh and value-added products segment:
California Air Resource Board reserve(1)	—		0.3		0.3		—		0.7		0.7
Impairment of production facilities(2)	1.1		—		1.1		2.1		—		2.1
Insurance recovery related to product recall(3)	—		(2.0)		(2.0)		—		(6.0)		(6.0)
North America reorganization charges(4)	—		0.7		0.7		—		0.7		0.7
Other fresh and value-added products segment charges	—		0.1		0.1		—		0.1		0.1
Total asset impairment and other charges (credits), net	$	1.8	$	(0.4)	$	1.4	$	2.8	$	(3.2)	$	(0.4)
	Quarter ended						Six months ended
	June 28, 2019						June 28, 2019
	Long-lived and other asset impairment		Exit activity and other charges (credits)		Total		Long-lived and other asset impairment		Exit activity and other charges (credits)		Total
Banana segment:
Philippine exit activities of certain low-yield areas	$	—	$	0.3	$	0.3	$	—	$	0.5	$	0.5
Fresh and value-added products segment:
Other fresh and value-added products segment charges	0.4		—		0.4		0.4		—		0.4
Impairment of equity investment(5)	0.1		—		0.1		2.9		—		2.9
Total asset impairment and other charges (credits), net	$	0.5	$	0.3	$	0.8	$	3.3	$	0.5	$	3.8

⁽¹⁾ $2.0 million reserve relating to a potential liability arising from our third-party shipping logistics operation. This liability relates to both our banana and fresh and value-added products segments. Refer to Note 9.  "Commitments and Contingencies" for further information regarding this matter.

⁽²⁾ $2.1 million asset impairment charges for the six months ended June 26, 2020 related to impairment of production facilities in North America and Europe.

⁽³⁾ $(6.0) million insurance recovery related to a voluntary recall of vegetable products in North America which was announced in the fourth quarter of 2019.

3.  Asset Impairment and Other Charges (Credits), Net (continued)

⁽⁴⁾ $0.7 million charge for the quarter and six months ended June 26, 2020 related to severance expense incurred in connection with the reorganization of our sales and marketing function in North America.

⁽⁵⁾ $2.9 million impairment of equity investment related to our 10% equity ownership interest in Three Limes, Inc., d/b/a The Purple Carrot. This investment was sold in the second quarter of 2019.