v3.25.2
ACQUISITIONS AND DIVESTITURES (Tables)
 6 Months Ended
Jun. 30, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Disposal Groups, Including Discontinued Operations
The following tables present the results of the Fresh Vegetables division as reported in income (loss) from discontinued operations, net of income taxes, in the condensed consolidated statements of operations and the carrying value of assets and liabilities as presented within discontinued operations assets and liabilities held for sale in the condensed consolidated balance sheets.
Three Months EndedSix Months Ended
June 30, 2025June 30, 2024June 30, 2025June 30, 2024
(U.S. Dollars in thousands)
Revenues, net
$247,242 $297,505 $492,235 $587,795 
Cost of sales
(231,023)(265,091)(456,610)(526,621)
Gross profit
16,219 32,414 35,625 61,174 
Selling, marketing, general and administrative expenses
(9,962)(10,952)(20,588)(22,469)
Transaction and other operating costs(156)(259)(279)(714)
Loss on asset sales— — — (221)
Operating income from discontinued operations6,101 21,203 14,758 37,770 
Other (expense) income, net(260)876 239 885 
Net interest income (expense)1
26 (217)65 (1,653)
Income from discontinued operations before income taxes5,867 21,862 15,062 37,002 
Loss on classification as held for sale before income taxes(50,700)— (60,913)— 
Total (loss) income from discontinued operations before income taxes(44,833)21,862 (45,851)37,002 
Income tax benefit (expense)10,156 10,279 10,939 (11,003)
Income from discontinued operations attributable to noncontrolling interests(273)(123)(8)(32)
(Loss) income from discontinued operations, net of income taxes$(34,950)$32,018 $(34,920)$25,967 
1 Net interest income presented within discontinued operations is net of interest expense.
June 30, 2025December 31, 2024
ASSETS
(U.S. Dollars in thousands)
Cash and cash equivalents$22,456 $1,702 
Current receivables, net1
71,799 12,721 
Inventories, net25,891 32,259 
Prepaid expenses and other current assets9,460 6,724 
Property, plant and equipment, net253,456 248,545 
Operating lease right-of-use assets116,385 115,917 
Other noncurrent assets17,529 19,060 
Loss recognized on classification as held for sale(165,799)(104,886)
Total Fresh Vegetables assets held for sale$351,177 $332,042 
Fresh Vegetables current assets held for sale351,177 332,042 
Fresh Vegetables non-current assets held for sale— — 
Total Fresh Vegetables assets held for sale$351,177 $332,042 
LIABILITIES
Accounts payable$59,883 $61,646 
Accrued and other current liabilities55,214 75,185 
Operating lease liabilities57,320 70,541 
Deferred income tax liabilities7,331 19,783 
Other long-term liabilities15,989 17,514 
Total Fresh Vegetables liabilities held for sale$195,737 $244,669 
Fresh Vegetables current liabilities held for sale195,737 244,669 
Fresh Vegetables non-current liabilities held for sale— — 
Total Fresh Vegetables liabilities held for sale$195,737 $244,669 
1As of December 31, 2024, Fresh Vegetables sold its trade receivables under the facility with recourse provisions described in Note 8 “Receivables and Allowances for Credit Losses”, amounting to $62.2 million. As of June 30, 2025, Fresh Vegetables’ position under the facility was settled and these receivables are included within the disposal group.