Property, Plant and Equipment, Net

12 Months Ended

Dec. 29, 2023

Property, Plant and Equipment [Abstract]

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


	December 29, 2023		December 30, 2022
Land and land improvements	$	695.9	$	704.3
Buildings and leasehold improvements	581.4		607.4
Machinery and equipment	609.3		614.3
Maritime equipment (including containers)	229.0		262.9
Furniture, fixtures and office equipment	102.1		102.2
Automotive equipment	69.1		69.0
Construction-in-progress	23.3		22.0
	2,310.1		2,382.1
Less: accumulated depreciation and amortization	(1,053.7)		(1,072.6)
Property, plant and equipment, net	$	1,256.4	$	1,309.5

Depreciation expense on property, plant and equipment, including assets under finance leases, was $79.9 million for 2023, $84.8 million for 2022 and $89.2 million for 2021.

Shipping containers, machinery and equipment and automotive equipment under finance leases totaled $11.1 million at December 29, 2023 and $11.0 million at December 30, 2022. Accumulated amortization for assets under finance leases was $3.8 million at December 29, 2023 and $2.4 million at December 30, 2022.

The gain (loss) on disposal of property, plant and equipment, net and subsidiary was a gain of $37.9 million for 2023, a loss of $(1.9) million for 2022 and a gain of $4.6 million for 2021. The gain on disposal of property, plant and equipment, net and subsidiary in 2023 was primarily related to the sale of two distribution centers and related assets in Saudi Arabia, the sale of an idle production facility in North America, the sale of our plastics business subsidiary in South America, the sale of two carrier vessels and the sales of land assets in South and Central America. The loss on disposal of property, plant and equipment, net in 2022 is primarily related to the disposal of low-yielding banana crops in Central America, partially offset by gains on the sale of vacant land in Mexico and sales of vehicles in the Middle East