XML 38 R27.htm IDEA: XBRL DOCUMENT v3.25.3
Asset Impairment and Other Charges (Credits), Net (Tables)
 9 Months Ended
Sep. 26, 2025
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 charges, net recorded during the quarters and nine months ended September 26, 2025 and September 27, 2024 (U.S. dollars in millions):

Quarter endedNine months ended
September 26, 2025September 26, 2025
 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:      
Philippines impairment of banana-related fixed assets and exit costs (1)
$35.7 $1.5 $37.2 $35.7 $1.5 $37.2 
Fresh and value-added products segment:   
Asset impairment and write-offs related to planned divestiture of Mann Packing (2)
17.9 — 17.9 17.9 — 17.9 
Impairment of leased grape farm in Chile— — — 0.6 — 0.6 
Other fresh and value-added product segment charges0.4 — 0.4 0.4 — 0.4 
Total asset impairment and other charges, net$54.0 $1.5 $55.5 $54.6 $1.5 $56.1 
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 (3)
$— $— $— $— $0.5 $0.5 
Philippines impairment of banana-related fixed assets— — — 1.2 — 1.2 
Fresh and value-added products segment: 
Insurance recovery related to South American warehouse— — — — (2.0)(2.0)
Reduction in repair reserves related to 2023 flooding in Greece (4)
— — — (0.5)— (0.5)
Chile property and equipment damage due to rain and windstorms— 0.2 0.2 — 0.2 0.2 
Other:
Legal settlement (5)
— — — — 1.8 1.8 
Total asset impairment and other charges, net$— $0.2 $0.2 $0.7 $0.5 $1.2 

(1) During the quarter ended September 26, 2025, we abandoned two operations in the Philippines as a result of low profitability and reduced production, including the impact of crop disease. As a result, we incurred charges of $35.7 million related to the write-off of property, plant and equipment and right-of-use lease assets and $1.5 million in charges related to restoration and severance costs. Refer to Note 15, "Fair Value Measurements".
(2) As a result of our planned divestiture of the Mann Packing business, including substantially all the operational assets, we recorded $17.9 million in asset impairment and other charges during the quarter ended September 26, 2025. These charges included $15.7 million to reduce the carrying value of the disposal group assets to fair value and $2.2 million in charges related to software used by the operations of Mann Packing. Refer to Note 15, "Fair Value Measurements".

(3) During the nine months ended September 27, 2024, we recorded a $0.5 million reserve relating to a regulatory matter. Refer to Note 10, “Commitments and Contingencies”.

(4) Due to damages caused by severe flooding in Greece during 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.

(5) 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 during the nine months ended September 27, 2024. Refer to Note 10, “Commitments and Contingencies.”