Asset Impairment and Other Charges, Net (Tables)

9 Months Ended

Sep. 25, 2026

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 25, 2026 and September 26, 2025 (U.S. dollars in millions):

	Quarter ended						Nine months ended
	September 25, 2026						September 25, 2026
	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:
Impairment of banana farm assets in Costa Rica (1)	$	6.3	$	—	$	6.3	$	16.5	$	0.5	$	17.0
Prepared segment:
Impairment of right-of-use asset (2)	—		—		—		16.1		—		16.1
Venezuela property and equipment damage due to earthquake	—		—		—		1.6		—		1.6
Acquired Del Monte Foods inventory rationalization costs	—		0.8		0.8		—		0.8		0.8
Other prepared segment charges	—		1.0		1.0		—		1.0		1.0
Fresh and value-added products segment:
Other fresh and value-added products segment charges (credits)	—		0.1		0.1		—		(0.2)		(0.2)
Other:
Business transaction costs related to acquisition of Del Monte Foods (3)	—		0.6		0.6		—		6.9		6.9
Severance costs for transition employees related to acquisition of Del Monte Foods	—		—		—		—		0.4		0.4
Total asset impairment and other charges, net	$	6.3	$	2.5	$	8.8	$	34.2	$	9.4	$	43.6
	Quarter ended						Nine months ended
	September 26, 2025						September 26, 2025
	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:
Philippines impairment of banana-related fixed assets and exit costs (4)	$	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 (5)	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 charges	0.4		—		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

(1) During the quarter and nine months ended September 25, 2026, we recorded impairment charges of $6.3 million and $16.5 million, respectively, related to property, plant and equipment, associated with the closure of four banana farms in Costa Rica as a result of low profitability and reduced production. The impairment charges primarily related to improvements that could not be relocated to other farms and changes in the expected use and recoverability of certain assets affected by the farm closures.

(2) During the nine months ended September 25, 2026, we recorded impairment charges of $16.1 million related to right-of-use assets acquired from Del Monte Foods for product lines we do not intend to operate. See Note 3, "Acquisitions".

(3) During the quarter and nine months ended September 25, 2026, we recorded $0.6 million and $6.9 million, respectively, in business transaction costs, primarily related to transaction advisory fees, legal, consulting, and accounting expenses, related to our acquisition of Del Monte Foods. See Note 3, “Acquisitions”.

(4) 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 16, "Fair Value Measurements".

(5) 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 16, "Fair Value Measurements".