Property, Plant and Equipment, Net

12 Months Ended

Dec. 27, 2024

Property, Plant and Equipment [Abstract]

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


	December 27, 2024		December 29, 2023
Land and land improvements	$	680.0	$	695.9
Buildings and leasehold improvements	550.4		581.4
Machinery and equipment	598.7		609.3
Maritime equipment (including containers)	223.3		229.0
Furniture, fixtures and office equipment	101.4		102.1
Automotive equipment	68.6		69.1
Construction-in-progress	21.0		23.3
	2,243.4		2,310.1
Less: accumulated depreciation and amortization	(1,051.8)		(1,053.7)
Property, plant and equipment, net	$	1,191.6	$	1,256.4

Depreciation expense on property, plant and equipment, including assets under finance leases, was $78.4 million for 2024, $79.9 million for 2023 and $84.8 million for 2022.

Shipping containers, machinery and equipment and automotive equipment under finance leases totaled $10.4 million at December 27, 2024 and $11.1 million at December 29, 2023. Accumulated amortization for assets under finance leases was $4.7 million at December 27, 2024 and $3.8 million at December 29, 2023.

The gain (loss) on disposal of property, plant and equipment, net and subsidiary was a gain of $39.5 million for 2024, a gain of $37.9 million for 2023 and a loss of $(1.9) million for 2022. The gain on disposal of property, plant and equipment, net and subsidiary in 2024 was primarily related to the sale of two idle facilities and one warehouse in Chile, a Canadian distribution center, and certain assets of a fresh-cut vegetable subsidiary in North America. The gain on disposal of property, plant and equipment, net and subsidiary in 2023 is 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.