Asset Impairment and Other Charges, Net (Tables)

12 Months Ended

Dec. 26, 2025

Asset Impairment and Other Charges, Net [Abstract]

The following represents the detail of asset impairment and other charges, net for the year ended December 26, 2025 by reportable segment (U.S. dollars in millions):


	Long-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		1.8		37.5
Fresh and value-added products segment:
Asset impairment and write-offs related to planned divestiture of Mann Packing (2)	17.9		—		17.9
Impairment of leased grape farm in Chile and legal settlement accrual (3)	0.6		1.5		2.1
Adjustment of Kunia Well Site environmental reserve in Hawaii	—		0.6		0.6

Other fresh and value-added products segment charges	1.2		—		1.2


Total asset impairment and other charges, net	$	55.4	$	3.9	$	59.3

(1) During the year ended December 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 $1.8 million in charges related to restoration and severance costs. Refer to Note 18, "Fair Value Measurements".

(2) As a result of our 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 year ended December 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 6, "Goodwill and other Intangible Assets" and Note 18, "Fair Value Measurements".

(3) As a result of low productivity at a leased grape farm in Chile, we recorded impairment charges of approximately $0.6 million during the year ended December 26, 2025. Additionally, we accrued restoration costs of $1.5 million in conjunction with a legal settlement made as a result of our termination of the lease.

The following represents the detail of asset impairment and other charges, net for the year ended December 27, 2024 by reportable segment (U.S. dollars in millions):


	Long-lived and other asset impairment		Exit activity and other charges (credits)		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)
Impairment of vegetable reporting unit goodwill (2)	1.4		—		1.4
Impairment of damaged buildings in Central America	1.5		—		1.5
Reduction in repair reserves related to 2023 flooding in Greece (3)	(0.5)		—		(0.5)
Chile property and equipment damage due to rain and windstorms	—		0.2		0.2
Other fresh and value-added products segment charges	0.1		—		0.1
Other:
Legal settlement (4)	—		1.8		1.8
Total asset impairment and other charges, net	$	3.7	$	0.5	$	4.2

(1) During the year ended December 27, 2024, we recorded a $0.5 million reserve relating to a regulatory matter. Refer to Note 16, "Commitments and Contingencies" for further information.

(2) Refer to Note 6, "Goodwill and Other Intangible Assets," for further information.

(3) Due to damages caused by severe flooding during the third quarter of 2023, we recorded reserves related to estimated damages to our property, plant and equipment. During the year ended December 27, 2024, we determined it was appropriate to reduce this reserve by $0.5 million based on actual repair charges incurred.

(4) During the year ended December 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. Refer to Note 16, “Commitments and Contingencies.”

The following represents the detail of asset impairment and other charges, net for the year ended December 29, 2023 by reportable segment (U.S. dollars in millions):


	Long-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
Fresh and value-added products segment:
Impairment of fresh and value-added assets in North America (1)	109.6		—		109.6
Impairment of prepared foods reporting unit goodwill (2)	21.6		—		21.6
Impairment of low productivity grape vines in South America and related costs	1.7		0.1		1.8
Impairment of low-yielding apple farms in South America	2.6		$	—	$	2.6
Other fresh and value-added products segment charges	0.3		$	0.7	$	1.0
Other:
2023 cybersecurity incident expenses (3)	—		1.3		1.3
Impairment of assets related to idle land in Central and South America	$	1.8	$	—	$	1.8
Total asset impairment and other charges, net	$	141.3	$	2.1	$	143.4

(1) During the year ended December 29, 2023, impairment charges related to our fresh and value-added assets in North America included impairment charges to customer relationships intangible assets of $88.6 million, trade names of $8.3 million, and building, land and land improvements of $12.7 million. Refer to Note 6, "Goodwill and Other Intangible Assets," for further information.

(2) Refer to Note 6, "Goodwill and Other Intangible Assets," for further information.

(3) During the year ended December 29, 2023, we incurred cybersecurity expenses of $1.3 million, net of insurance reimbursements received, primarily related to the engagement of specialized legal counsel and other incident response advisors.