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Asset Impairment and Other Charges (Credits), Net (Tables)
9 Months Ended
Sep. 27, 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 nine months ended September 27, 2024 and September 29, 2023 (U.S. dollars in millions):
Quarter endedNine months ended
September 27, 2024September 27, 2024
 Long-lived and other
asset impairment
 Exit activity and other
 charges
TotalLong-lived and other
asset impairment
 Exit activity and other
 charges
Total
Banana segment:      
California Air Resource Board reserve (1)
$— $— $— $— $0.5 $0.5 
Philippines impairment of banana-related fixed assets— — — 1.2 — 1.2 
Fresh and value-added products segment:   
Insurance recovery related to South American warehouse— — — — (2.0)(2.0)
Reduction in repair reserves related to 2023 flooding in Greece (2)
— — — (0.5)— (0.5)
Chile property and equipment damage due to rain and windstorms0.2 0.2 — 0.2 0.2 
Other:
Legal settlement (3)
— — — — 1.8 1.8 
Total asset impairment and other charges, net$— $0.2 $0.2 $0.7 $0.5 $1.2 
Quarter endedNine months ended
September 29, 2023September 29, 2023
 Long-lived and other
asset impairment
Exit activity and other
 charges
TotalLong-lived and other
asset impairment
Exit activity and other
 charges
Total
Banana segment:      
Impairment of low-yielding banana farms in the Philippines$3.7 $— $3.7 $3.7 $— $3.7 
Fresh and value-added products segment: 
Impairment and write-off of property and equipment due to flooding in Greece (4)
0.9 — 0.9 0.9 — 0.9 
Impairment of low productivity grape vines in South America and related costs— — — 1.7 0.1 1.8 
Other:
2023 cybersecurity incident expenses (5)
— (2.8)(2.8)— 1.3 1.3 
Impairment of assets related to idle land in Central and South America0.7 — 0.7 1.8 — 1.8 
Total asset impairment and other charges, net$5.3 $(2.8)$2.5 $8.1 $1.4 $9.5 

(1) During the nine months ended September 27, 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 nine months ended September 27, 2024, we determined it was appropriate to reduce this reserve by $0.5 million based on actual repair charges incurred.
(3) During the nine months ended September 27, 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 September 27, 2024. Refer to Note 9, “Commitments and Contingencies.

(4) During the nine months ended September 29, 2023, we incurred costs related to property and equipment damage of $0.9 million, primarily related to severe flooding caused by heavy rainstorms in Greece.
(5) During the nine months ended September 29, 2023, we incurred cybersecurity expenses of $1.3 million, primarily related to the engagement of specialized legal counsel and other incident response advisors.