Asset Impairment and Other Charges, Net (Tables)

12 Months Ended

Dec. 30, 2022

Asset Impairment and Other Charges, Net [Abstract]

The following represents the detail of asset impairment and other (credits) charges, net for the year ended December 30, 2022 by reportable segment (U.S. dollars in millions):


	Long-lived and other asset impairment		Exit activity and other charges (credits)		Total
Banana segment:
Exit costs related to European facility	$	—	$	0.4	$	0.4
Philippine asset impairment due to floods(1)	2.7		—		2.7
Fresh and value-added products segment:
Adjustment of Kunia Well Site environmental liability in Hawaii(2)	—		(9.9)		(9.9)
Impairment of South America farm and other charges	0.8		0.1		0.9
Other fresh and value-added products segment charges	—		0.1		0.1
Other:
Former President/COO severance expense	—		1.0		1.0
Total asset impairment and other (credits) charges, net	$	3.5	$	(8.3)	$	(4.8)

(1) $2.7 million asset impairment as a result of flooding in the Philippines due to heavy rainfall during the fourth quarter of 2022.

(2) $(9.9) million reduction in our environmental liability related to the Kunia Well Site clean-up. Refer to Note 16, “Commitments and contingencies,” for further information.

The following represents the detail of asset impairment and other (credits) charges, net for the year ended December 31, 2021 by reportable segment (U.S. dollars in millions):


	Long-lived and other asset impairment		Exit activity and other charges (credits)		Total
Banana segment:
Insurance recovery related to hurricanes(1)	$	—	$	(0.8)	$	(0.8)
Philippine asset impairment and exit activities of certain low-yield areas(2)	3.3		1.4		4.7
Fresh and value-added products segment:
Exit costs related to European facility	—		0.2		0.2
Other fresh and value-added products segment charges	0.5		(0.1)		0.4
Total asset impairment and other (credits) charges, net	$	3.8	$	0.7	$	4.5

(1) $(0.8) million insurance recovery for fiscal 2021 associated with damages to certain of our banana fixed assets in Guatemala caused by hurricanes Eta and Iota in the fourth quarter of 2020.

(2) $4.7 million asset impairment and other charges primarily related to our exit from two low-yield banana farms in the Philippines in the fourth quarter of 2021

The following represents the detail of asset impairment and other (credits) charges, net for the year ended January 1, 2021 by reportable segment (U.S. dollars in millions):


	Long-lived and other asset impairment		Exit activity and other charges (credits)		Total
Banana segment:
California Air Resource Board settlement(1)	$	—	$	1.3	$	1.3
Philippine asset impairment of low-yield areas	1.8		—		1.8
Impairment of property and equipment due to hurricanes(2)	4.8		—		4.8
Fresh and value-added products segment:
California Air Resource Board settlement(1)	—		0.7		0.7
Impairment of property and related equipment(3)	5.2		—		5.2
Insurance recovery related to product recall(4)	—		(15.0)		(15.0)
North America reorganization charges(5)	—		1.5		1.5
Other fresh and value-added products segment charges	—		0.1		0.1
Total asset impairment and other (credits) charges, net	$	11.8	$	(11.4)	$	0.4

(1) $2.0 million charge for fiscal 2020 relating to a settlement with the California Air Resource Board. This charge relates to both our banana and fresh and value-added products segments.

(2) $4.8 million charge for fiscal 2020 relating to asset impairments incurred in Central America. In the fourth quarter of 2020, hurricanes Eta and Iota impacted our farm operations in the country of Guatemala, which resulted in damages to property and equipment including to our banana plantations, levees, drainage equipment, and other related fixed assets.

(3) $5.2 million asset impairment charges for fiscal 2020 primarily relating to impairment of property and related equipment in North America, the Middle East, and Europe.

(4) $(15.0) million insurance recovery for fiscal 2020 relating to a voluntary recall of vegetable products in North America which was announced in the fourth quarter of 2019.

(5) $1.5 million charge for fiscal 2020 relating to severance expenses incurred in connection with the reorganization of our sales and marketing function in North America.