Asset Impairment and Other Charges (Credits), Net (Tables)

6 Months Ended

Jun. 28, 2024

Asset Impairment and Other Charges (Credits), Net [Abstract]

Summary of asset impairment and exit activity and other charges (credits)

The following represents a summary of asset impairment and other (credits) charges, net recorded during the quarters and six months ended June 28, 2024 and June 30, 2023 (U.S. dollars in millions):

	Quarter ended						Six months ended
	June 28, 2024						June 28, 2024
	Long-lived and other asset impairment		Exit activity and other  charges		Total		Long-lived and other asset impairment		Exit activity and other  charges		Total
Banana segment:
California Air Resource Board reserve (1)	$	—	$	—	$	—	$	—	$	0.5	$	0.5
Philippines impairment of banana-related fixed assets	1.2		—		1.2		1.2		—		1.2
Fresh and value-added products segment:
Insurance recovery related to South American warehouse	—		(2.0)		(2.0)		—		(2.0)		(2.0)
Reduction in repair reserves related to 2023 flooding in Greece (2)	(0.5)		—		(0.5)		(0.5)		—		(0.5)
Other:
Legal settlement (3)	—		—		—		—		1.8		1.8
Total asset impairment and other (credits) charges, net	$	0.7	$	(2.0)	$	(1.3)	$	0.7	$	0.3	$	1.0
	Quarter ended						Six months ended
	June 30, 2023						June 30, 2023
	Long-lived and other asset impairment		Exit activity and other  charges		Total		Long-lived and other asset impairment		Exit activity and other  charges		Total
Fresh and value-added products segment:
Impairment of low productivity grape vines in South America and related costs	$	1.7	$	0.1	$	1.8	$	1.7	$	0.1	$	1.8
Other:
2023 cybersecurity incident expenses (4)	—		1.7		1.7		—		4.2		4.2
Impairment of idle land in Central America	1.1		—		1.1		1.1		—		1.1
Total asset impairment and other (credits) charges, net	$	2.8	$	1.8	$	4.6	$	2.8	$	4.3	$	7.1

(1) During the six months ended June 28, 2024, we recorded a $0.5 million reserve relating to a potential regulatory matter. Refer to Note 9, “Commitments and Contingencies.”

(2) Due to damages caused by severe flooding in Greece during the third quarter of 2023, we recorded reserves related to estimated damages to our property, plant and equipment. During the quarter ended June 28, 2024, we determined it was appropriate to reduce this reserve by $0.5 million based on actual repair charges incurred.

(3) During the six months ended June 28, 2024, we entered into a settlement agreement with respect to a litigation matter by a former employee regarding a legacy claim stemming from the 1970s. Accordingly, we incurred charges of $1.8 million, net of insurance reimbursements, associated with the settlement as of June 28, 2024. Refer to Note 9, “Commitments and Contingencies.”

(4) During the six months ended June 30, 2023, we incurred cybersecurity expenses of $4.2 million, primarily related to the engagement of specialized legal counsel and other incident response advisors.