Other Operating Income (Expense), net

12 Months Ended

Dec. 31, 2024

Unusual or Infrequent Items, or Both [Abstract]

Other Operating Income (Expense), net

Other Operating Income (Expense), net

We have recorded incurred charges or realized benefits that we believe are significant to our current operating results warranting separate classification in other operating income (expense), net.

	For the years ended
	December 31, 2024		December 31, 2023		December 31, 2022
	(In millions)
Restructuring(1)
Employee-related charges	$	(2.6)	$	(4.1)	$	(6.0)
Asset abandonment and other restructuring costs	(104.2)		—		(3.1)
Intangible and tangible asset impairments, excluding goodwill(2)	—		(160.8)		(36.3)
Gains (losses) on disposals and other(1)(3)	41.4		2.2		6.8
Other operating income (expense), net	$	(65.4)	$	(162.7)	$	(38.6)

(1)During the year ended December 31, 2024, we made the decision to wind down or sell certain of our U.S. craft businesses and related facilities and recorded employee-related and asset abandonment charges, including accelerated depreciation in excess of normal depreciation of $93.6 million. In addition, we recognized a loss of $41.2 million related to the disposal of the sold businesses. We expect to continue to incur incremental restructuring charges during the first quarter of 2025 through completion of wind down and closure of certain remaining U.S. craft facilities. Remaining charges are estimated to total approximately $15 million to $20 million, consisting primarily of accelerated depreciation.

(2)During the year ended December 31, 2023, we recognized a partial impairment charge of $160.7 million to our indefinite-lived intangible asset related to the Staropramen family of brands within our EMEA&APAC segment. The indefinite-lived intangible asset was measured at fair value primarily using a market approach with Level 3 inputs.

During the year ended December 31, 2022, we identified a triggering event related to the former Truss joint venture asset group within our Americas segment and recognized an impairment loss of $28.6 million, of which $12.1 million was attributable to the noncontrolling interest. The asset group was measured at fair value primarily using a market approach with Level 3 inputs.

(3)During the year ended December 31, 2024, we further increased our investment in ZOA resulting in consolidation and recognized a gain of $77.9 million representing the difference between the fair value and the carrying value of our previously held equity interest on the acquisition date.

During the third quarter of 2023, we sold our 57.5% controlling interest in Truss in Canada to Tilray Brands and recognized a loss of $11.1 million upon deconsolidation of the business.