Fresh Del Monte Produce (FDP) 10-Q 2 Aug 23 2023 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2023	Jul. 21, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2023
Document Transition Report	false
Entity File Number	333-07708
Entity Registrant Name	FRESH DEL MONTE PRODUCE INC
Entity Incorporation, State or Country Code	E9
Entity Address, Address Line One	c/o H&C Corporate Services Limited
Entity Address, Address Line Two	P.O. Box 698, 4th Floor, Apollo House, 87 Mary Street
Entity Address, City or Town	George Town,
Entity Address, Postal Zip Code	KY1-1107
Entity Address, Country	KY
City Area Code	305
Local Phone Number	520-8400
Title of 12(b) Security	Ordinary Shares, $0.01 Par Value Per Share
Trading Symbol	FDP
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (shares)		48,120,186
Entity Central Index Key	0001047340
Current Fiscal Year End Date	--12-29
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Amendment Flag	false

CONSOLIDATED BALANCE SHEETS (Un

CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 30, 2022
Current assets:
Cash and cash equivalents	$ 43.8	$ 17.2
Trade accounts receivable, net of allowance of $22.6 and $21.6, respectively	418.4	373.5
Other accounts receivable, net of allowance of $6.0 and $5.7, respectively	101.8	91
Inventories, net	583.3	669
Assets held for sale	1.3	67.3
Prepaid expenses and other current assets	28.9	23.4
Total current assets	1,177.5	1,241.4
Investments in and advances to unconsolidated companies	21.8	18
Property, plant and equipment, net	1,281.2	1,309.5
Operating lease right-of-use assets	224.8	213.8
Goodwill	423.4	422.9
Intangible assets, net	131.8	135
Deferred income taxes	49.4	47.4
Other noncurrent assets	62.6	70.9
Total assets	3,372.5	3,458.9
Current liabilities:
Accounts payable and accrued expenses	514.2	549.9
Current maturities of debt and finance leases	1.4	1.3
Current maturities of operating leases	53.6	41.6
Income taxes and other taxes payable	29	14.2
Total current liabilities	598.2	607
Long-term debt and finance leases	407.1	547.1
Retirement benefits	83.1	82.4
Deferred income taxes	66.4	71.6
Operating leases, less current maturities	146.5	147.3
Other noncurrent liabilities	25.7	28.5
Total liabilities	1,327	1,483.9
Commitments and Contingencies (See note 9)
Redeemable noncontrolling interest	0	49.4
Shareholders' equity:
Preferred shares, $0.01 par value; 50,000,000 shares authorized; none issued or outstanding	0	0
Ordinary shares, $0.01 par value; 200,000,000 shares authorized; 48,086,949 and 47,838,680 issued and outstanding, respectively	0.5	0.5
Paid-in capital	596.3	548.1
Retained earnings	1,467.1	1,397.6
Accumulated other comprehensive loss	(34.5)	(41.5)
Total Fresh Del Monte Produce Inc. shareholders' equity	2,029.4	1,904.7
Noncontrolling interests	16.1	20.9
Total shareholders' equity	2,045.5	1,925.6
Total liabilities, redeemable noncontrolling interest and shareholders' equity	$ 3,372.5	$ 3,458.9

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 30, 2022
Statement of Financial Position [Abstract]
Allowance for Trade accounts receivable	$ 22.6	$ 21.6
Allowance for Other accounts receivable	$ 6	$ 5.7
Preferred shares, par value (usd per share)	$ 0.01
Preferred shares, authorized (shares)	50,000,000
Preferred shares, issued (shares)	0
Preferred shares, outstanding (shares)	0
Ordinary shares, par value (usd per share)	$ 0.01	$ 0.01
Ordinary shares, authorized (shares)	200,000,000	200,000,000
Ordinary shares, issued (shares)	48,086,949	47,838,680
Ordinary shares, outstanding (shares)	48,086,949	47,838,680

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jul. 01, 2022	Jun. 30, 2023	Jul. 01, 2022
Income Statement [Abstract]
Net sales	$ 1,180.5	$ 1,211.9	$ 2,309	$ 2,348.9
Cost of products sold	1,063.7	1,131.2	2,095.2	2,178.4
Gross profit	116.8	80.7	213.8	170.5
Selling, general and administrative expenses	46.8	47.3	94.4	92.5
Gain (loss) on disposal of property, plant and equipment, net and subsidiary	6.7	1.6	34.2	(2.2)
Asset impairment and other charges, net	4.6	0.7	7.1	1.7
Operating income	72.1	34.3	146.5	74.1
Interest expense	6.5	5.8	14.4	11.1
Interest income	0.4	0.1	0.5	0.1
Other expense, net	6.4	2.6	15.7	6.7
Income before income taxes	59.6	26	116.9	56.4
Income tax provision	11.3	4.9	20.9	10.7
Net income	48.3	21.1	96	45.7
Less: Net income (loss) attributable to redeemable and noncontrolling interests	0.6	(0.1)	9.3	(1.2)
Net income attributable to Fresh Del Monte Produce Inc.	$ 47.7	$ 21.2	$ 86.7	$ 46.9
Net income per ordinary share attributable to Fresh Del Monte Produce Inc. - Basic (usd per share)	$ 0.99	$ 0.44	$ 1.81	$ 0.98
Net income per ordinary share attributable to Fresh Del Monte Produce Inc. - Diluted (usd per share)	0.99	0.44	1.80	0.98
Dividends declared per ordinary share (usd per share)	$ 0.20	$ 0.15	$ 0.35	$ 0.30
Weighted average number of ordinary shares:
Basic (shares)	48,032,711	47,825,758	47,962,822	47,745,440
Diluted (shares)	48,213,033	47,887,123	48,183,287	47,871,704

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jul. 01, 2022	Jun. 30, 2023	Jul. 01, 2022
Statement of Comprehensive Income [Abstract]
Net income	$ 48.3	$ 21.1	$ 96	$ 45.7
Other comprehensive income:
Net unrealized gain on derivatives, net of tax	4.3	6.6	4.3	44.4
Net unrealized foreign currency translation gain (loss)	0.7	(14)	2.7	(21.4)
Net change in retirement benefit adjustment, net of tax	0.4	0.6	0	0.5
Comprehensive income	53.7	14.3	103	69.2
Less: Comprehensive income (loss) attributable to redeemable and noncontrolling interests	0.6	(0.1)	9.3	(1.2)
Comprehensive income attributable to Fresh Del Monte Produce Inc.	$ 53.1	$ 14.4	$ 93.7	$ 70.4

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Jul. 01, 2022
Operating activities:
Net income	$ 96	$ 45.7
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	43.7	47.3
Amortization of debt issuance costs	0.2	0.3
Share-based compensation expense	5.1	2.8
Asset impairments	2.8	0.2
Change in uncertain tax positions	0.4	0.3
(Gain) loss on disposal of property, plant and equipment and subsidiary	(34.2)	2.2
Deferred income taxes	(6.1)	(5.8)
Other, net	0.2	(10.9)
Changes in operating assets and liabilities
Receivables	(44.3)	(61.8)
Inventories	81.8	26.7
Prepaid expenses and other current assets	0.4	(0.2)
Accounts payable and accrued expenses	(17)	42.3
Other assets and liabilities	3.7	6
Net cash provided by operating activities	132.7	95.1
Investing activities:
Capital expenditures	(18.9)	(23.2)
Proceeds from sales of property, plant and equipment	96.8	6.3
Cash paid from settlement of derivatives not designated as hedges	0	(0.2)
Investments in unconsolidated companies	(3.7)	(8.1)
Other investing activities	(0.5)	0.1
Net cash provided by (used in) investing activities	73.7	(25.1)
Financing activities:
Proceeds from debt	232.9	441.7
Payments on debt	(372.2)	(498.1)
Purchase of redeemable noncontrolling interest	(5.2)	0
Distributions to noncontrolling interests	(17.8)	(0.6)
Share-based awards settled in cash for taxes	(0.7)	(0.8)
Dividends paid	(16.8)	(14.3)
Other financing activities	(0.4)	(0.3)
Net cash used in financing activities	(180.2)	(72.4)
Effect of exchange rate changes on cash	0.4	1.9
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect, Total	26.6	(0.5)
Cash and cash equivalents, beginning	17.2	16.1
Cash and cash equivalents, ending	43.8	15.6
Supplemental cash flow information:
Cash paid for interest	14.2	12.1
Cash paid for income taxes	8.7	5.3
Non-cash financing and investing activities:
Right-of-use assets obtained in exchange for new operating lease obligations	36.7	18
Dividends on restricted stock units	0.4	0
Accounts receivable obtained from disposition of subsidiary	$ 17	$ 0

CONSOLIDATED STATEMENTS OF SHAR

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY AND REDEEMABLE NONCONTROLLING INTEREST (Unaudited) - USD ($) $ in Millions	Total	Ordinary Shares	Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Loss	Fresh Del Monte Produce Inc. Shareholders' Equity	Noncontrolling Interests	Noncontrolling Interests Redeemable Noncontrolling Interest	Noncontrolling Interests Ordinary Shares	Total Shareholders' Equity
Balance, shares (shares) at Dec. 31, 2021		47,554,695
Balance, value at Dec. 31, 2021		$ 0.5	$ 541	$ 1,327.7	$ (66.9)	$ 1,802.3	$ 21.7	$ 49.5		$ 1,824
Settlement of restricted stock units (shares)		263,148
Share-based payment expense			1.7			1.7				1.7
Disposal of noncontrolling interest						0.3				0.3
Dividend declared			0	(7.2)		(7.2)				(7.2)
Comprehensive income:
Net income				25.8		25.8	(0.3)	(0.8)		25.5
Net unrealized gain on derivatives, net of tax					37.8	37.8				37.8
Net unrealized foreign currency translation gain (loss)					(7.4)	(7.4)				(7.4)
Change in retirement benefit adjustment, net of tax					(0.1)	(0.1)				(0.1)
Comprehensive income (loss)						56.1	(0.3)	(0.8)		55.8
Balance, shares (shares) at Apr. 01, 2022		47,817,843
Balance, value at Apr. 01, 2022		$ 0.5	542.7	1,346.3	(36.6)	1,852.9	21.7	48.7		1,874.6
Balance, shares (shares) at Dec. 31, 2021		47,554,695
Balance, value at Dec. 31, 2021		$ 0.5	541	1,327.7	(66.9)	1,802.3	21.7	49.5		1,824
Comprehensive income:
Net income	$ 45.7
Net unrealized gain on derivatives, net of tax	44.4
Net unrealized foreign currency translation gain (loss)	(21.4)
Change in retirement benefit adjustment, net of tax	0.5
Comprehensive income (loss)	69.2
Balance, shares (shares) at Jul. 01, 2022		47,832,974
Balance, value at Jul. 01, 2022		$ 0.5	544	1,360.3	(43.4)	1,861.4	21.8	48.8		1,883.2
Balance, shares (shares) at Apr. 01, 2022		47,817,843
Balance, value at Apr. 01, 2022		$ 0.5	542.7	1,346.3	(36.6)	1,852.9	21.7	48.7		1,874.6
Exercises of stock options (shares)		7,000
Exercises of stock options			0.2			0.2				0.2
Settlement of restricted stock units (shares)		8,131
Share-based payment expense			1.1			1.1				1.1
Distribution to noncontrolling interests							0.3			0.3
Dividend declared				(7.2)		(7.2)				(7.2)
Comprehensive income:
Net income	21.1			21.2		21.2	(0.2)	0.1		21
Net unrealized gain on derivatives, net of tax	6.6				6.6	6.6				6.6
Net unrealized foreign currency translation gain (loss)	(14)				(14)	(14)				(14)
Change in retirement benefit adjustment, net of tax	0.6				0.6	0.6				0.6
Comprehensive income (loss)	$ 14.3					14.4	(0.2)	0.1		14.2
Balance, shares (shares) at Jul. 01, 2022		47,832,974
Balance, value at Jul. 01, 2022		$ 0.5	544	1,360.3	(43.4)	1,861.4	21.8	$ 48.8		1,883.2
Balance, shares (shares) at Dec. 30, 2022	47,838,680	47,838,680
Balance, value at Dec. 30, 2022	$ 1,925.6	$ 0.5	548.1	1,397.6	(41.5)	1,904.7	20.9		$ 49.4	1,925.6
Exercises of stock options (shares)	2,418
Settlement of restricted stock units (shares)		157,648
Share-based payment expense			2.3			2.3				2.3
Distribution to noncontrolling interests									(0.3)
Dividend declared			0.3	(7.5)		(7.2)				(7.2)
Comprehensive income:
Net income				39		39	8.5		0.3	47.5
Net unrealized gain on derivatives, net of tax					0	0				0
Net unrealized foreign currency translation gain (loss)					2	2				2
Change in retirement benefit adjustment, net of tax					(0.4)	(0.4)				(0.4)
Comprehensive income (loss)						40.6	8.5		0.3	49.1
Balance, shares (shares) at Mar. 31, 2023		47,998,746
Balance, value at Mar. 31, 2023		$ 0.5	550.7	1,429.1	(39.9)	1,940.4	29.4		49.4	1,969.8
Balance, shares (shares) at Dec. 30, 2022	47,838,680	47,838,680
Balance, value at Dec. 30, 2022	$ 1,925.6	$ 0.5	548.1	1,397.6	(41.5)	1,904.7	20.9		49.4	1,925.6
Comprehensive income:
Net income	96
Net unrealized gain on derivatives, net of tax	4.3
Net unrealized foreign currency translation gain (loss)	2.7
Change in retirement benefit adjustment, net of tax	0
Comprehensive income (loss)	$ 103
Balance, shares (shares) at Jun. 30, 2023	48,086,949	48,086,949
Balance, value at Jun. 30, 2023	$ 2,045.5	$ 0.5	596.3	1,467.1	(34.5)	2,029.4	16.1		0	2,045.5
Balance, shares (shares) at Mar. 31, 2023		47,998,746
Balance, value at Mar. 31, 2023		$ 0.5	550.7	1,429.1	(39.9)	1,940.4	29.4		49.4	1,969.8
Settlement of restricted stock units (shares)		88,203
Share-based payment expense			2.8			2.8				2.8
Distribution to noncontrolling interests							(14.3)		(1.1)	(14.3)
Dividend declared			0.1	(9.7)		(9.6)				(9.6)
Settlement of redeemable noncontrolling interest			42.7			42.7			(47.9)	42.7
Comprehensive income:
Net income	48.3			47.7		47.7	1		(0.4)	48.7
Net unrealized gain on derivatives, net of tax	4.3				4.3	4.3				4.3
Net unrealized foreign currency translation gain (loss)	0.7				0.7	0.7				0.7
Change in retirement benefit adjustment, net of tax	0.4				0.4	0.4				0.4
Comprehensive income (loss)	$ 53.7					53.1	1		(0.4)	54.1
Balance, shares (shares) at Jun. 30, 2023	48,086,949	48,086,949
Balance, value at Jun. 30, 2023	$ 2,045.5	$ 0.5	$ 596.3	$ 1,467.1	$ (34.5)	$ 2,029.4	$ 16.1		$ 0	$ 2,045.5

General

General	6 Months Ended
	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
General	General Reference in this Report to “Fresh Del Monte”, “we”, “our” and “us” and the “Company” refer to Fresh Del Monte Produce Inc. and its subsidiaries, unless the context indicates otherwise. Nature of Business We were incorporated under the laws of the Cayman Islands in 1996. We are one of the world’s leading vertically integrated producers, marketers and distributors of high-quality fresh and fresh-cut fruit and vegetables, as well as a leading producer and marketer of prepared fruit and vegetables, juices, beverages and snacks in Europe, Africa and the Middle East. We market our products worldwide under the Del Monte ® brand, a symbol of product innovation, quality, freshness and reliability since 1892. Our major sales markets are organized as follows: North America, Europe, the Middle East (which includes North Africa) and Asia. Our global sourcing and logistics system allows us to provide regular delivery of consistently high-quality produce and value-added services to our customers. Our major production operations are located in North, Central and South America, Asia and Africa. Our products are sourced from company-owned operations and through supply contracts with independent growers. Our business is comprised of three reportable segments, two of which represent our primary businesses of fresh and value-added products and banana, and one that represents our other ancillary businesses. • Fresh and value-added products - includes pineapples, fresh-cut fruit, fresh-cut vegetables (which includes fresh-cut salads), melons, vegetables, non-tropical fruit (including grapes, apples, citrus, blueberries, strawberries, pears, peaches, plums, nectarines, cherries and kiwis), other fruit and vegetables, avocados, and prepared foods (including prepared fruit and vegetables, juices, other beverages, and meals and snacks). • Banana • Other products and services - includes our third-party freight and logistic services business and our Jordanian poultry and meats business. Basis of Presentation The accompanying unaudited Consolidated Financial Statements for the quarter and six months ended June 30, 2023 have been prepared in accordance with accounting principles generally accepted in the United States for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. They do not include all information and notes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments of a normal recurring nature considered necessary for fair presentation have been included. Operating results for the quarter and six months ended June 30, 2023 are subject to significant seasonal variations and are not necessarily indicative of the results that may be expected for the year ending December 29, 2023. For further information, refer to the Consolidated Financial Statements and notes thereto included in our annual report on Form 10-K for the fiscal year ended December 30, 2022. We are required to evaluate events occurring after June 30, 2023 for recognition and disclosure in the unaudited Consolidated Financial Statements for the quarter and six months ended June 30, 2023. Events are evaluated based on whether they represent information existing as of June 30, 2023, which require recognition in the unaudited Consolidated Financial Statements, or new events occurring after June 30, 2023 which do not require recognition but require disclosure if the event is significant to the unaudited Consolidated Financial Statements. We evaluated events occurring subsequent to June 30, 2023 through the date of issuance of these unaudited Consolidated Financial Statements.

Recently Issued Accounting Pron

Recently Issued Accounting Pronouncements	6 Months Ended
	Jun. 30, 2023
Accounting Standards Update and Change in Accounting Principle [Abstract]
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements New Accounting Pronouncements In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting , and subsequent amendments to the guidance, ASU 2021-01 in January 2021 and ASU 2022-06 in December 2022. The amendments in these updates provide optional guidance to companies to ease the potential burden associated with reference rate reform. Specifically, the guidance provides optional expedients and exceptions to apply generally accepted accounting principles to contract modifications and hedging relationships, subject to certain criteria, that reference LIBOR or another reference rate expected to be discontinued. As of December 30, 2022, we had LIBOR-based borrowings and interest rate swaps that referenced LIBOR. Effective January 3, 2023, we amended our agreements and transitioned to the Term Secured Overnight Financing Rate (Term SOFR) for these instruments. We adopted the optional guidance in Topic 848 in conjunction with our contract amendments which allowed us to (i) account for the modification to our debt agreement as a continuation of the existing contract and (ii) continue applying hedge accounting for our interest rate swaps. The adoption of this guidance did not have a material impact on our consolidated financial statements.

Asset Impairment and Other Char

Asset Impairment and Other Charges (Credits), Net	6 Months Ended
	Jun. 30, 2023
Asset Impairment and Other Charges (Credits), Net [Abstract]
Asset Impairment and Other Charges (Credits), Net	Asset Impairment and Other Charges, Net The following represents a summary of asset impairment and other charges, net recorded during the quarters and six months ended June 30, 2023 and July 1, 2022 (U.S. dollars in millions): Quarter ended Six months ended June 30, 2023 June 30, 2023 Long-lived and other Exit activity and other Total Long-lived and other Exit activity and other Total Fresh and value-added products segment: Impairment of low productivity grape vines in South America and related costs $ 1.7 $ 0.1 $ 1.8 $ 1.7 $ 0.1 $ 1.8 Other: 2023 cybersecurity incident expenses (1) — 1.7 1.7 — 4.2 4.2 Impairment of idle land in Central America 1.1 — 1.1 1.1 — 1.1 Total asset impairment and other charges, net $ 2.8 $ 1.8 $ 4.6 $ 2.8 $ 4.3 $ 7.1 Quarter ended Six months ended July 1, 2022 July 1, 2022 Long-lived and other Exit activity and other Total Long-lived and other Exit activity and other Total Banana segment: Exit costs related to European facility $ — $ 0.4 $ 0.4 $ — $ 0.4 $ 0.4 Fresh and value-added products segment: Impairment of South American farm 0.2 — 0.2 0.2 — 0.2 Other fresh and value-added segment charges — 0.1 0.1 — 0.1 0.1 Other: Former President/COO severance expense — — — — 1.0 1.0 Total asset impairment and other charges, net $ 0.2 $ 0.5 $ 0.7 $ 0.2 $ 1.5 $ 1.7 (1) $4.2 million charge for the six months ended June 30, 2023 associated with the cybersecurity incident that resulted in costs primarily related to the engagement of specialized legal counsel and other incident response advisors. The Company has cyber incident insurance, with a $1.0 million deductible, and has submitted these charges to its insurer for reimbursement.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes In connection with the examination of the tax returns in two foreign jurisdictions, the taxing authorities have issued income tax deficiencies related to transfer pricing aggregating approximately $156.3 million (including interest and penalties) for tax years 2012 through 2016. We strongly disagree with the proposed adjustments and have filed a protest with each of the taxing authorities as we believe that the proposed adjustments are without technical merit. In one of the foreign jurisdictions, we are currently contesting tax assessments related to the 2012-2015 audit years and the 2016 audit year in both the administrative court and the judicial court. During 2019 and 2020, we filed actions contesting the tax assessment in the administrative office. Our initial challenge to each of these tax assessments was rejected, and we subsequently lost our appeals at the administrative court. We have subsequently filed actions to contest each of these tax assessments in the country’s judicial courts. In addition, we have filed a request for injunction to the judicial court to stay the tax authorities' collection efforts for these two tax assessments, pending final judicial decisions. The court granted our injunction with respect to the 2016 audit year, however denied our injunction with respect to the 2012-2015 audit years. We timely appealed the denial of the injunction, and on August 10, 2022 the appellate court overturned the denial and granted our injunction for the 2012-2015 audit years. Pursuant to local law, we registered real estate collateral with an approximate fair market value of $7.0 million in connection with the grant of the 2016 audit year injunction. This real estate collateral has a net book value of $3.8 million as of the quarter ended June 30, 2023. In addition, in connection with the grant of the 2012-2015 audit year injunction, we registered real estate collateral with an approximate fair market value of $28.0 million, and a net book value of $4.6 million as of the quarter ended June 30, 2023. The registration of this real estate collateral does not affect our operations in the country. In the other foreign jurisdiction, the administrative court denied our appeal, and on March 4, 2020 we filed an action in the judicial court to contest the administrative court's decision. The case is still pending. We will continue to vigorously contest the adjustments and to exhaust all administrative and judicial remedies necessary in both jurisdictions to resolve the matters, which could be a lengthy process. Income tax provision was $11.3 million for the quarter ended June 30, 2023 compared with $4.9 million for the quarter ended July 1, 2022, and was $20.9 million for the six months ended June 30, 2023 compared with $10.7 million for the six months ended July 1, 2022. The increase in the income tax provision in both periods was primarily due to increased earnings in certain higher tax jurisdictions combined with the tax effect related to the sale of our plastics business subsidiary in the second quarter. In addition, the increase in the income tax provision for the six months ended June 30, 2023 also reflects the tax effects of our asset sales in Saudi Arabia and North America during the first quarter of the year.

Allowance for Credit Losses

Allowance for Credit Losses	6 Months Ended
	Jun. 30, 2023
Receivables [Abstract]
Allowance for Credit Losses	Allowance for Credit Losses We estimate expected credit losses on our trade receivables and financing receivables in accordance with Accounting Standards Codification (“ASC”) 326 - Financial Instruments - Credit Losses . Trade Receivables Trade receivables as of June 30, 2023 were $418.4 million, net of an allowance of $22.6 million. Our allowance for trade receivables consists of two components: an $8.1 million allowance for credit losses and a $14.5 million allowance for customer claims accounted for under the scope of ASC 606 - Revenue Recognition. As a result of our robust credit monitoring practices, the industry in which we operate, and the nature of our customer base, the credit losses associated with our trade receivables have historically been insignificant in comparison to our annual net sales. We measure the allowance for credit losses on trade receivables on a collective (pool) basis when similar risk characteristics exist. We generally pool our trade receivables based on the geographic region or country to which the receivables relate. Receivables that do not share similar risk characteristics are evaluated for collectability on an individual basis. Our historical credit loss experience provides the basis for our estimation of expected credit losses. We generally use a three-year average annual loss rate as a starting point for our estimation, and make adjustments to the historical loss rate to account for differences in current conditions impacting the collectability of our receivable pools. We generally monitor macroeconomic indicators to assess whether adjustments are necessary to reflect current conditions. 5. Allowance for Credit Losses (continued) The table below presents a rollforward of our trade receivable allowance for credit losses for the six months ended June 30, 2023 and July 1, 2022 (U.S. dollars in millions): Six months ended Trade receivables June 30, July 1, Allowance for credit losses: Balance, beginning of period $ 9.3 $ 10.2 Provision for uncollectible amounts 1.0 (0.3) Deductions to allowance related to write-offs (2.2) (0.3) Foreign exchange effects — (0.2) Reclassifications (1) — (0.3) Balance, end of period $ 8.1 $ 9.1 (1) $0.3 million reclassification to the long-term allowance for credit losses, presented in other noncurrent assets on our Consolidated Balance Sheets, from short-term during the six months ended July 1, 2022. The amount in the long-term allowance related to trade receivables as of June 30, 2023 is not material to our Consolidated Financial Statements. Financing Receivables Financing receivables are included in other accounts receivable, net on our Consolidated Balance Sheets and are recognized at amortized cost less an allowance for estimated credit losses. Financing receivables include seasonal advances to growers and suppliers, which are usually short-term in nature, and other financing receivables. A significant portion of the fresh produce we sell is acquired through supply contracts with independent growers. In order to ensure the consistent high quality of our products and packaging, we make advances to independent growers and suppliers. These growers and suppliers typically sell all of their production to us and make payments on their advances as a deduction to the agreed upon selling price of the fruit or packaging material. The majority of the advances to growers and suppliers are for terms less than one year and typically span a growing season. In certain cases, there may be longer term advances with terms of up to five years. We measure the allowance for credit losses on advances to suppliers and growers on a collective (pool) basis when similar risk characteristics exist. We generally pool our advances based on the country to which they relate, and further disaggregate them based on their current or past-due status. We generally consider an advance to a grower to be past due when the advance is not fully paid within the respective growing season. The allowance for advances to growers and suppliers that do not share similar risk characteristics are determined on a case-by-case basis, depending on the expected production for the season and other contributing factors. The advances are typically collateralized by property liens and pledges of the respective season’s produce. Occasionally, we agree to a payment plan with these growers or take steps to recover the advance via established collateral. We may write-off uncollectible financing receivables after our collection efforts are exhausted. Our historical credit loss experience provides the basis for our estimation of expected credit losses. We generally use a three-year average annual loss rate as a starting point for our estimation, and make adjustments to the historical loss rate to account for differences in current or expected future conditions. We generally monitor macroeconomic indicators as well as other factors, including unfavorable weather conditions and crop diseases, which may impact the collectability of the advances when assessing whether adjustments to the historical loss rate are necessary. 5. Allowance for Credit Losses (continued) The following table details the advances to growers and suppliers based on their credit risk profile (U.S. dollars in millions): June 30, 2023 December 30, 2022 Current Past-Due Current Past-Due Gross advances to growers and suppliers $ 26.9 $ 10.1 $ 44.6 $ 5.6 The allowance for advances to growers and suppliers for the six months ended June 30, 2023 and July 1, 2022 were as follows (U.S. dollars in millions): Six months ended June 30, July 1, Allowance for advances to growers and suppliers: Balance, beginning of period $ 4.9 $ 1.8 Provision for uncollectible amounts 2.7 0.3 Deductions to allowance related to write-offs — (0.1) Balance, end of period $ 7.6 $ 2.0

Share-Based Compensation

Share-Based Compensation	6 Months Ended
	Jun. 30, 2023
Share-Based Payment Arrangement, Noncash Expense [Abstract]
Share-Based Compensation	Share-Based Compensation We maintain various compensation plans for officers, other employees, and non-employee members of our Board of Directors. On June 2, 2022, our shareholders approved and ratified the 2022 Omnibus Share Incentive Plan (the “2022 Plan”). The 2022 Plan allows us to grant equity-based compensation awards including restricted stock units (“RSUs”), performance stock units (“PSUs”), stock options, and restricted stock awards. The 2022 Plan replaces and supersedes the 2014 Omnibus Share Incentive Plan (the “Prior Plan”). Under the 2022 Plan, the Board of Directors is authorized to award up to (i) 2,800,000 ordinary shares plus (ii) any ordinary shares remaining available for future awards under the Prior Plan at the time of adoption (of which there were approximately 220,000) plus (iii) any ordinary shares with respect to awards and Prior Plan awards that are forfeited, canceled, expire unexercised, or are settled in cash following adoption of the 2022 Plan. Stock-based compensation expense related to RSUs and PSUs is included in selling, general and administrative expenses in the accompanying Consolidated Statements of Operations and is comprised as follows (U.S. dollars in millions): Quarter ended Six months ended June 30, July 1, June 30, July 1, RSUs/PSUs $ 2.9 $ 1.1 $ 5.1 $ 2.8 6. Share-Based Compensation (continued) Restricted Stock Units and Performance Stock Units The following table lists the RSUs and PSUs awarded under the 2022 Plan and the Prior Plan during the six months ended June 30, 2023 and July 1, 2022: Date of Award Type of award Units awarded Price per share For the six months ended June 30, 2023 May 4, 2023 RSU 39,662 $ 26.51 March 2, 2023 PSU 91,997 32.13 March 2, 2023 RSU 215,627 32.13 For the six months ended July 1, 2022 June 15, 2022 RSU 105,614 $ 23.71 June 15, 2022 PSU 46,222 23.71 June 2, 2022 RSU 41,307 25.42 Under the 2022 Plan and Prior Plan, each RSU/PSU represents a contingent right to receive one of our ordinary shares. The PSUs are subject to meeting minimum performance criteria set by the Compensation Committee of our Board of Directors. The actual number of shares the recipient receives is determined based on the results achieved versus performance goals. Those performance goals are based on exceeding a measure of our earnings. Depending on the results achieved, the actual number of shares that an award recipient receives at the end of the period may range from 0% to 100% of the award units granted, or as it relates to 2023 PSU awards granted to our Chairman and Chief Executive Officer, 0% to 125% of the award units granted. Provided such criteria are met, the PSUs granted during 2023 and prior to 2022 vest in three equal annual installments on each of the next three anniversary dates. PSUs granted during 2022 vest in three equal installments in 1) June and July 2023, 2) March 2024, and 3) March 2025. All PSU vesting is contingent on the recipient's continued employment with us. Expense for RSUs is recognized on a straight line basis over the requisite service period for the entire award. RSUs granted in 2023 and 2021 vest annually in three equal installments over a three-year service period while RSUs granted prior to 2021 vested 20% on the grant date, with 20% vesting on each of the next four anniversaries. RSUs granted in 2022 vest in three equal installments in June 2023, March 2024 and March 2025. RSUs granted to our Board of Directors generally vest after a one-year period. The fair market value for RSUs and PSUs is based on the closing price of our stock on the grant date. We recognize expenses related to RSUs and PSUs based on the fair market value, as determined on the grant date, ratably over the vesting period, provided the performance condition, if any, is probable. Forfeitures are recognized as they occur. RSUs and PSUs do not have the voting rights of ordinary shares, and the shares underlying the RSUs and PSUs are not considered issued and outstanding. However, shares underlying RSUs/PSUs are included in the calculation of diluted earnings per share to the extent the performance criteria are met, if any. Each of our outstanding RSUs and PSUs are eligible to earn Dividend Equivalent Units (“DEUs”) equal to the cash dividend paid to ordinary shareholders. DEUs are subject to the same performance and/or service conditions as the underlying RSUs and PSUs and are forfeitable.

Inventories, net

Inventories, net	6 Months Ended
	Jun. 30, 2023
Inventory Disclosure [Abstract]
Inventories, net	Inventories, net Inventories consisted of the following (U.S. dollars in millions): June 30, December 30, Finished goods $ 205.4 $ 205.8 Raw materials and packaging supplies 173.4 233.2 Growing crops 204.5 230.0 Total inventories, net $ 583.3 $ 669.0

Debt and Finance Lease Obligati

Debt and Finance Lease Obligations	6 Months Ended
	Jun. 30, 2023
Long-Term Debt and Lease Obligation [Abstract]
Debt and Finance Lease Obligations	Debt and Finance Lease Obligations The following is a summary of long-term debt and finance lease obligations (U.S. dollars in millions): June 30, December 30, Senior unsecured revolving credit facility (see Credit Facility below) $ 400.5 $ 539.8 Finance lease obligations 8.0 8.6 Total debt and finance lease obligations 408.5 548.4 Less: Current maturities (1.4) (1.3) Long-term debt and finance lease obligations $ 407.1 $ 547.1 Credit Facility On October 1, 2019, we entered into a Second Amended and Restated Credit Agreement (as amended, the “Second A&R Credit Agreement”) with Bank of America, N.A. as administrative agent and BofA Securities, Inc. as sole lead arranger and sole bookrunner and certain other lenders. The Second A&R Credit Agreement provides for a five-year, $0.9 billion syndicated senior unsecured revolving credit facility (the “Revolving Credit Facility”) maturing on October 1, 2024. Certain of our direct and indirect subsidiaries have guaranteed the obligations under the Second A&R Credit Agreement. We intend to use funds borrowed under the Revolving Credit Facility from time to time for general corporate purposes, working capital, capital expenditures and other permitted investment opportunities. On December 30, 2022, we and certain of our subsidiaries executed Amendment No. 1 to the Second A&R Credit Agreement (the “Amendment”) with the financial institutions and other lenders named therein, including Bank of America, N.A. as administrative agent and BofA Securities, Inc. as sole lead arranger and sole bookrunner. Pursuant to the Amendment, the reference interest rate on the Revolving Credit Facility was amended to replace the Eurocurrency Rate with the Term Secured Overnight Financing Rate (“Term SOFR”) effective January 3, 2023. As amended, Term Loans made under the Revolving Credit Facility can be Base Rate Loans, Term SOFR Loans or Alternative Currency Term Rate Loans. All other material terms of the Second A&R Credit Agreement, as amended, remain unchanged. Effective January 3, 2023, amounts borrowed under the Revolving Credit Facility accrue interest, at our election, at either (i) the Term SOFR Rate (as defined in the Second A&R Credit Agreement) plus a margin that ranges from 1.0% to 1.5% or (ii) the Base Rate (as defined in the Second A&R Credit Agreement) plus a margin that ranges from 0% to 0.5%, in each case based on our Consolidated Leverage Ratio (as defined in the Second A&R Credit Agreement). The Second A&R Credit Agreement interest rate grid provides for five pricing levels for interest rate margins. 8. Debt and Finance Lease Obligations (continued) The Second A&R Credit Agreement provides for an accordion feature that permits us, without the consent of the other lenders, to request that one or more lenders provide us with increases in revolving credit facility or term loans up to an aggregate of $300 million (“Incremental Increases”). The aggregate amount of Incremental Increases can be further increased to the extent that after giving effect to the proposed increase in revolving credit facility commitments or term loans our Consolidated Leverage Ratio, on a pro forma basis, would not exceed 2.50 to 1.00. Our ability to request such increases in the Revolving Credit Facility or term loans is subject to our compliance with customary conditions set forth in the Second A&R Credit Agreement including compliance, on a pro forma basis, with the financial covenants and ratios set forth therein. Upon our request, each lender may decide, in its sole discretion, whether to increase all or a portion of its revolving credit facility commitment or provide term loans. The Second A&R Credit Agreement requires us to comply with certain financial and other covenants. Specifically, it requires us to maintain a 1) Consolidated Leverage Ratio of not more than 3.50 to 1.00 at any time during any period of four consecutive fiscal quarters, subject to certain exceptions and 2) a minimum Consolidated Interest Coverage Ratio of not less than 2.25 to 1.00 as of the end of any fiscal quarter. Additionally, it requires us to comply with certain other covenants, including limitations on capital expenditures, stock repurchases, the amount of dividends that can be paid in the future, the amount and types of liens and indebtedness, material asset sales, and mergers. Under the Second A&R Credit Agreement, we are permitted to declare or pay cash dividends in any fiscal year up to an amount that does not exceed the greater of (i) an amount equal to the greater of (A) 50% of the Consolidated Net Income (as defined in the Second A&R Credit Agreement) for the immediately preceding fiscal year or (B) $25 million or (ii) the greatest amount which would not cause the Consolidated Leverage Ratio (determined on a pro forma basis) to exceed 3.25 to 1.00. It also provides an allowance for stock repurchases to be an amount not exceeding the greater of (i) $150 million in the aggregate or (ii) the amount that, after giving pro forma effect thereto and any related borrowings, will not cause the Consolidated Leverage Ratio to exceed 3.25 to 1.00. As of June 30, 2023, we were in compliance with all of the covenants contained in the Second A&R Credit Agreement. Debt issuance costs of $0.4 million and $0.6 million are included in other noncurrent assets on our Consolidated Balance Sheets as of June 30, 2023 and December 30, 2022, respectively. We also have a renewable 364-day, $25.0 million letter of credit facility with Rabobank Nederland. The following is a summary of the material terms of the Revolving Credit Facility and other working capital facilities at June 30, 2023 (U.S. dollars in millions): Term Maturity date Interest rate Borrowing Available Bank of America credit facility 5 years October 1, 2024 6.40% $ 900.0 $ 499.5 Rabobank letter of credit facility 364 days June 13, 2024 Varies 25.0 16.2 Other working capital facilities Varies Varies Varies 27.2 8.9 $ 952.2 $ 524.6 The margin for SOFR advances as of June 30, 2023 was 1.125%. The Revolving Credit Facility permits borrowings under the revolving commitment with an interest rate determined based on our leverage ratio and spread over SOFR. In addition, we pay a fee on unused commitments. As of June 30, 2023, we applied $36.3 million to letters of credit and bank guarantees issued from Rabobank Nederland, Bank of America, and other banks. During 2018, we entered into interest rate swaps in order to hedge the risk of the fluctuation on future interest payments related to our variable rate borrowings from our Revolving Credit Facility. Refer to Note 13, “ Derivative Financial Instruments. ”
Debt and Finance Lease Obligations	Debt and Finance Lease Obligations The following is a summary of long-term debt and finance lease obligations (U.S. dollars in millions): June 30, December 30, Senior unsecured revolving credit facility (see Credit Facility below) $ 400.5 $ 539.8 Finance lease obligations 8.0 8.6 Total debt and finance lease obligations 408.5 548.4 Less: Current maturities (1.4) (1.3) Long-term debt and finance lease obligations $ 407.1 $ 547.1 Credit Facility On October 1, 2019, we entered into a Second Amended and Restated Credit Agreement (as amended, the “Second A&R Credit Agreement”) with Bank of America, N.A. as administrative agent and BofA Securities, Inc. as sole lead arranger and sole bookrunner and certain other lenders. The Second A&R Credit Agreement provides for a five-year, $0.9 billion syndicated senior unsecured revolving credit facility (the “Revolving Credit Facility”) maturing on October 1, 2024. Certain of our direct and indirect subsidiaries have guaranteed the obligations under the Second A&R Credit Agreement. We intend to use funds borrowed under the Revolving Credit Facility from time to time for general corporate purposes, working capital, capital expenditures and other permitted investment opportunities. On December 30, 2022, we and certain of our subsidiaries executed Amendment No. 1 to the Second A&R Credit Agreement (the “Amendment”) with the financial institutions and other lenders named therein, including Bank of America, N.A. as administrative agent and BofA Securities, Inc. as sole lead arranger and sole bookrunner. Pursuant to the Amendment, the reference interest rate on the Revolving Credit Facility was amended to replace the Eurocurrency Rate with the Term Secured Overnight Financing Rate (“Term SOFR”) effective January 3, 2023. As amended, Term Loans made under the Revolving Credit Facility can be Base Rate Loans, Term SOFR Loans or Alternative Currency Term Rate Loans. All other material terms of the Second A&R Credit Agreement, as amended, remain unchanged. Effective January 3, 2023, amounts borrowed under the Revolving Credit Facility accrue interest, at our election, at either (i) the Term SOFR Rate (as defined in the Second A&R Credit Agreement) plus a margin that ranges from 1.0% to 1.5% or (ii) the Base Rate (as defined in the Second A&R Credit Agreement) plus a margin that ranges from 0% to 0.5%, in each case based on our Consolidated Leverage Ratio (as defined in the Second A&R Credit Agreement). The Second A&R Credit Agreement interest rate grid provides for five pricing levels for interest rate margins. 8. Debt and Finance Lease Obligations (continued) The Second A&R Credit Agreement provides for an accordion feature that permits us, without the consent of the other lenders, to request that one or more lenders provide us with increases in revolving credit facility or term loans up to an aggregate of $300 million (“Incremental Increases”). The aggregate amount of Incremental Increases can be further increased to the extent that after giving effect to the proposed increase in revolving credit facility commitments or term loans our Consolidated Leverage Ratio, on a pro forma basis, would not exceed 2.50 to 1.00. Our ability to request such increases in the Revolving Credit Facility or term loans is subject to our compliance with customary conditions set forth in the Second A&R Credit Agreement including compliance, on a pro forma basis, with the financial covenants and ratios set forth therein. Upon our request, each lender may decide, in its sole discretion, whether to increase all or a portion of its revolving credit facility commitment or provide term loans. The Second A&R Credit Agreement requires us to comply with certain financial and other covenants. Specifically, it requires us to maintain a 1) Consolidated Leverage Ratio of not more than 3.50 to 1.00 at any time during any period of four consecutive fiscal quarters, subject to certain exceptions and 2) a minimum Consolidated Interest Coverage Ratio of not less than 2.25 to 1.00 as of the end of any fiscal quarter. Additionally, it requires us to comply with certain other covenants, including limitations on capital expenditures, stock repurchases, the amount of dividends that can be paid in the future, the amount and types of liens and indebtedness, material asset sales, and mergers. Under the Second A&R Credit Agreement, we are permitted to declare or pay cash dividends in any fiscal year up to an amount that does not exceed the greater of (i) an amount equal to the greater of (A) 50% of the Consolidated Net Income (as defined in the Second A&R Credit Agreement) for the immediately preceding fiscal year or (B) $25 million or (ii) the greatest amount which would not cause the Consolidated Leverage Ratio (determined on a pro forma basis) to exceed 3.25 to 1.00. It also provides an allowance for stock repurchases to be an amount not exceeding the greater of (i) $150 million in the aggregate or (ii) the amount that, after giving pro forma effect thereto and any related borrowings, will not cause the Consolidated Leverage Ratio to exceed 3.25 to 1.00. As of June 30, 2023, we were in compliance with all of the covenants contained in the Second A&R Credit Agreement. Debt issuance costs of $0.4 million and $0.6 million are included in other noncurrent assets on our Consolidated Balance Sheets as of June 30, 2023 and December 30, 2022, respectively. We also have a renewable 364-day, $25.0 million letter of credit facility with Rabobank Nederland. The following is a summary of the material terms of the Revolving Credit Facility and other working capital facilities at June 30, 2023 (U.S. dollars in millions): Term Maturity date Interest rate Borrowing Available Bank of America credit facility 5 years October 1, 2024 6.40% $ 900.0 $ 499.5 Rabobank letter of credit facility 364 days June 13, 2024 Varies 25.0 16.2 Other working capital facilities Varies Varies Varies 27.2 8.9 $ 952.2 $ 524.6 The margin for SOFR advances as of June 30, 2023 was 1.125%. The Revolving Credit Facility permits borrowings under the revolving commitment with an interest rate determined based on our leverage ratio and spread over SOFR. In addition, we pay a fee on unused commitments. As of June 30, 2023, we applied $36.3 million to letters of credit and bank guarantees issued from Rabobank Nederland, Bank of America, and other banks. During 2018, we entered into interest rate swaps in order to hedge the risk of the fluctuation on future interest payments related to our variable rate borrowings from our Revolving Credit Facility. Refer to Note 13, “ Derivative Financial Instruments. ”

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Kunia Well Site In 1980, elevated levels of certain chemicals were detected in the soil and ground-water at a plantation leased by one of our U.S. subsidiaries in Honolulu, Hawaii (the “Kunia Well Site”). In 2005, our subsidiary signed a Consent Decree (“Consent Decree”) with the Environmental Protection Agency (“EPA”) for the performance of the clean-up work for the Kunia Well Site. Based on findings from remedial investigations, our subsidiary coordinated with the EPA to evaluate the clean-up work required in accordance with the Consent Decree. On July 25, 2022, an Explanation of Significant Differences (ESD) for the Kunia Well Site was filed by the EPA, which formally transitioned the remedy for the Kunia Well Site to a Monitored Natural Attenuation (MNA), thereby reducing our potential liability. In connection with the above decision, we recorded a $9.9 million reduction in our liability during the year ended December 30, 2022 to reflect the decrease in estimated costs associated with the clean-up. The revised estimate associated with the clean-up costs, and on which our accrual is based, is $2.7 million. As of June 30, 2023, $2.4 million was included in other noncurrent liabilities, and $0.3 million was included in accounts payable and accrued expenses in the Consolidated Balance Sheets for the Kunia Well Site clean-up. We expect to expend approximately $0.3 million in 2023, $0.6 million in 2024, $0.5 million in 2025, $0.4 million in 2026, and $0.1 million in 2027. Additional Information In addition to the foregoing, we are involved from time to time in various claims and legal actions incident to our operations, both as plaintiff and defendant. In the opinion of management, after consulting with legal counsel, none of these other claims are currently expected to have a material adverse effect on the results of operations, financial position or our cash flows. We intend to vigorously defend ourselves in all of the above matters.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2023
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share Basic and diluted net income per ordinary share is calculated as follows (U.S. dollars in millions, except share and per share data): Quarter ended Six months ended June 30, July 1, June 30, July 1, Numerator: Net income attributable to Fresh Del Monte Produce Inc. $ 47.7 $ 21.2 $ 86.7 $ 46.9 Denominator: Weighted average number of ordinary shares - Basic 48,032,711 47,825,758 47,962,822 47,745,440 Effect of dilutive securities - share-based awards 180,322 61,365 220,465 126,264 Weighted average number of ordinary shares - Diluted 48,213,033 47,887,123 48,183,287 47,871,704 Antidilutive awards (1) 285,463 104,707 285,463 104,707 Net income per ordinary share attributable to Fresh Del Monte Produce Inc.: Basic $ 0.99 $ 0.44 $ 1.81 $ 0.98 Diluted $ 0.99 $ 0.44 $ 1.80 $ 0.98 (1) Certain unvested RSUs and PSUs are not included in the calculation of net income per ordinary share because the effect would have been antidilutive.

Retirement and Other Employee B

Retirement and Other Employee Benefits	6 Months Ended
	Jun. 30, 2023
Retirement Benefits [Abstract]
Retirement and Other Employee Benefits	Retirement and Other Employee Benefits The following table sets forth the net periodic benefit costs of our defined benefit pension plans and post-retirement benefit plans (U.S. dollars in millions): Quarter ended Six months ended June 30, July 1, June 30, July 1, Service cost $ 1.4 $ 1.4 $ 2.8 $ 2.9 Interest cost 1.8 1.4 3.6 2.7 Expected return on assets (0.8) (0.7) (1.6) (1.4) Amortization of net actuarial loss 0.1 0.1 0.3 0.3 Net periodic benefit costs $ 2.5 $ 2.2 $ 5.1 $ 4.5 We provide certain other retirement benefits to certain employees who are not U.S.-based and are not included above. Generally, benefits under these programs are based on an employee’s length of service and level of compensation. These programs are immaterial to our consolidated financial statements. The net periodic benefit costs related to other non-U.S. based plans is $1.5 million for the quarter ended June 30, 2023 and $0.9 million for the quarter ended July 1, 2022. The net periodic benefit costs related to other non-U.S. based plans is $1.9 million for the six months ended June 30, 2023 and $1.7 million for the six months ended July 1, 2022.

Business Segment Data

Business Segment Data	6 Months Ended
	Jun. 30, 2023
Segment Reporting [Abstract]
Business Segment Data	Business Segment Data Our business is comprised of three reportable segments, two of which represent our primary businesses of fresh and value-added products and banana, and one that represents our other ancillary businesses. • Fresh and value-added products - includes pineapples, fresh-cut fruit, fresh-cut vegetables (which includes fresh-cut salads), melons, vegetables, non-tropical fruit (including grapes, apples, citrus, blueberries, strawberries, pears, peaches, plums, nectarines, cherries and kiwis), other fruit and vegetables, avocados, and prepared foods (including prepared fruit and vegetables, juices, other beverages, and meals and snacks). • Banana • Other products and services - includes our third-party freight and logistic services business and our Jordanian poultry and meats business. We evaluate performance based on several factors, of which net sales and gross profit are the primary financial measures (U.S. dollars in millions): Quarter ended June 30, 2023 July 1, 2022 Segments: Net Sales Gross Profit Net Sales Gross Profit Fresh and value-added products $ 677.6 $ 62.1 $ 732.4 $ 49.4 Banana 448.8 50.5 421.6 22.2 Other products and services 54.1 4.2 57.9 9.1 Totals $ 1,180.5 $ 116.8 $ 1,211.9 $ 80.7 Six months ended June 30, 2023 July 1, 2022 Segments: Net Sales Gross Profit Net Sales Gross Profit Fresh and value-added products $ 1,321.0 $ 109.1 $ 1,405.1 $ 93.8 Banana 873.9 93.7 827.6 60.0 Other products and services 114.1 11.0 116.2 16.7 Totals $ 2,309.0 $ 213.8 $ 2,348.9 $ 170.5 12. Business Segment Data (continued) The following table indicates our net sales by geographic region (U.S. dollars in millions): Quarter ended Six months ended Net sales by geographic region: June 30, July 1, June 30, July 1, North America $ 704.2 $ 744.4 $ 1,371.4 $ 1,434.4 Europe 224.5 201.4 441.0 400.9 Asia 132.2 133.4 244.3 247.6 Middle East 100.6 111.6 202.4 214.7 Other 19.0 21.1 49.9 51.3 Totals $ 1,180.5 $ 1,211.9 $ 2,309.0 $ 2,348.9 The following table indicates our net sales by product (U.S. dollars in millions) and, in each case, the percentage of the total represented thereby: Quarter ended Six months ended June 30, July 1, June 30, July 1, Fresh and value-added products: Fresh-cut fruit $ 153.0 13 % $ 145.5 12 % $ 277.7 12 % $ 267.4 12 % Fresh-cut vegetables 82.5 7 % 89.5 7 % 164.4 7 % 173.1 7 % Pineapples 172.5 15 % 166.2 14 % 322.4 14 % 297.8 13 % Avocados 74.7 6 % 107.7 9 % 139.4 6 % 197.6 8 % Non-tropical fruit 41.4 3 % 64.0 5 % 102.7 4 % 127.4 5 % Prepared foods 69.5 6 % 74.6 6 % 136.1 6 % 148.6 6 % Melons 28.0 2 % 25.8 2 % 73.5 3 % 69.5 3 % Tomatoes 5.3 — % 6.5 1 % 10.7 — % 13.0 1 % Vegetables 32.0 3 % 29.5 2 % 58.5 3 % 65.5 3 % Other fruit and vegetables 18.7 2 % 23.1 2 % 35.6 2 % 45.2 2 % Total fresh and value-added products 677.6 57 % 732.4 60 % 1,321.0 57 % 1,405.1 60 % Banana 448.8 38 % 421.6 35 % 873.9 38 % 827.6 35 % Other products and services 54.1 5 % 57.9 5 % 114.1 5 % 116.2 5 % Totals $ 1,180.5 100 % $ 1,211.9 100 % $ 2,309.0 100 % $ 2,348.9 100 %

Derivative Financial Instrument

Derivative Financial Instruments	6 Months Ended
	Jun. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments	Derivative Financial Instruments Our derivative financial instruments reduce our exposure to fluctuations in foreign exchange rates and variable interest rates. We designate our derivative financial instruments as cash flow hedges. Counterparties expose us to credit loss in the event of non-performance of hedges. We monitor our exposure to counterparty non-performance risk both at inception of the hedge and at least quarterly thereafter. Fluctuations in the value of the derivative instruments are generally offset by changes in the cash flows of the underlying exposures being hedged. A cash flow hedge requires that the change in the fair value of a derivative instrument be recognized in other comprehensive income, a component of shareholders’ equity, and reclassified into earnings in the same period or periods during which the hedged transaction affects earnings and is presented in the same income statement line item as the earnings effect of the hedged item. 13. Derivative Financial Instruments (continued) Certain of our derivative instruments contain provisions that require the current credit relationship between us and our counterparty to be maintained throughout the term of the derivative instruments. If that credit relationship changes, certain provisions could be triggered, and the counterparty could request immediate collateralization of derivative instruments in a net liability position above a certain threshold. The aggregate fair value of all derivative instruments with a credit-risk-related contingent feature that are in a liability position on June 30, 2023 is $3.9 million. As of June 30, 2023, no triggering event has occurred and thus we are not required to post collateral. Derivative instruments are disclosed on a gross basis. There are various rights of setoff associated with our derivative instruments that are subject to an enforceable master netting arrangement or similar agreements. Although various rights of setoff and master netting arrangements or similar agreements may exist with the individual counterparties, individually, these financial rights are not material. Cash flows from derivative instruments that are designated as cash flow hedges are classified in the same category as the cash flows from the underlying hedged items. In the event that hedge accounting is discontinued, cash flows related to changes in fair value subsequent to the date of discontinuance are classified within investing activities. Foreign Currency Hedges Our results of operations and financial condition are exposed to fluctuations in currency exchange rates against the U.S. dollar, and we mitigate that exposure by entering into foreign currency forward contracts. Certain of our subsidiaries periodically enter into foreign currency forward contracts in order to hedge portions of forecasted sales or cost of sales denominated in foreign currencies, which generally mature within one year. At June 30, 2023, our foreign currency forward contracts hedge a portion of our 2023 foreign currency exposure. The foreign currency forward contracts qualifying as cash flow hedges were designated as single-purpose cash flow hedges of forecasted cash flows. We had the following outstanding foreign currency forward contracts as of June 30, 2023 (in millions): Foreign currency contracts qualifying as cash flow hedges: Notional amount Euro EUR 74.2 British pound GBP 18.1 Japanese yen JPY 727.2 Chilean peso CLP 11,199.0 Kenyan shilling KES 1,960.7 Korean won KRW 8,000.0 Interest Rate Contracts Our results of operations and financial condition are exposed to fluctuations in variable interest rates, and we mitigate that exposure by entering into interest rate swaps. During 2018, we entered into interest rate swaps in order to hedge the risk of the fluctuation on future interest payments related to our variable rate LIBOR-based borrowings through 2028. We amended our Second A&R Credit Agreement and our interest rate swaps to transition from LIBOR to SOFR as a reference rate effective January 3, 2023. Refer to our discussion of New Accounting Pronouncements in Note 2, “Recently Issued Accounting Pronouncements” for further information. Gains or losses on interest rate swaps are recorded in other comprehensive income and are subsequently reclassified into earnings as the interest expense on debt is recognized in earnings. At June 30, 2023, the notional value of interest rate contracts outstanding was $400.0 million, with $200.0 million maturing in June 2024 and the remaining $200.0 million maturing in 2028. Refer to Note 8, “ Debt and Finance Lease Obligations. ” 13. Derivative Financial Instruments (continued) The following table reflects the fair values of derivative instruments, which are designated as level 2 in the fair value hierarchy, as of June 30, 2023 and December 30, 2022 (U.S. dollars in millions): Derivatives designated as hedging instruments (1) Foreign exchange contracts Interest rate swaps Total Balance Sheet location: June 30, December 30, June 30, December 30, June 30, December 30, Asset derivatives: Prepaid expenses and other current assets $ 1.2 $ — $ 4.7 $ — $ 5.9 $ — Other noncurrent assets — — 9.5 15.8 9.5 15.8 Total asset derivatives $ 1.2 $ — $ 14.2 $ 15.8 $ 15.4 $ 15.8 Liability derivatives: Accounts payable and accrued expenses $ 3.9 $ 6.5 $ — $ — $ 3.9 $ 6.5 Other noncurrent liabilities — 0.2 — — — 0.2 Total liability derivatives $ 3.9 $ 6.7 $ — $ — $ 3.9 $ 6.7 (1) See Note 14, “ Fair Value Measurements, ” for fair value disclosures. We expect that $6.3 million of the net fair value of our cash flow hedges recognized as a net gain in accumulated other comprehensive loss will be transferred to earnings during the next 12 months, and the remaining net gain of $4.8 million over the following 5 years, along with the earnings effect of the related forecasted transactions. The following table reflects the effect of derivative instruments on the Consolidated Statements of Comprehensive Income for the quarters and six months ended June 30, 2023 and July 1, 2022 (U.S. dollars in millions): Net amount of gain (loss) recognized in other Quarter ended Six months ended Derivative instruments June 30, July 1, June 30, July 1, Foreign exchange contracts $ (0.4) $ 2.2 $ 4.5 $ 19.8 Interest rate swaps, net of tax 4.7 4.4 (0.2) 24.6 Total $ 4.3 $ 6.6 $ 4.3 $ 44.4 Refer to Note 15, “Accumulated Other Comprehensive Loss,” for the effect of derivative instruments on the Consolidated Statements of Operations related to amounts reclassified from accumulated other comprehensive loss for the quarters and six months ended June 30, 2023 and July 1, 2022.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Fair Value of Derivative Instruments Our derivative assets or liabilities include foreign exchange and interest rate derivatives that are measured at fair value using observable market inputs such as forward rates, interest rates, and our own credit risk as well as an evaluation of our counterparties' credit risks. We use an income approach to value our outstanding foreign currency and interest rate hedges, which consists of a discounted cash flow model that takes into account the present value of future cash flows under the terms of the contract using current market information as of the measurement date such as foreign currency spot rates, forward rates and interest rates. Additionally, we include an element of default risk based on observable inputs into the fair value calculation. Based on these inputs, the derivative assets or liabilities are classified within Level 2 of the valuation hierarchy. 14. Fair Value Measurements (continued) The following table provides a summary of the fair values of our derivative financial instruments measured on a recurring basis (U.S. dollars in millions): Fair value measurements Foreign currency forward contracts, net liability Interest rate contracts, net asset June 30, December 30, June 30, December 30, Quoted prices in active markets for identical assets (Level 1) $ — $ — $ — $ — Significant observable inputs (Level 2) (2.7) (6.7) 14.2 15.8 Significant unobservable inputs (Level 3) — — — — In estimating our fair value disclosures for financial instruments, we use the following methods and assumptions: Cash and cash equivalents: The carrying amount reported in the Consolidated Balance Sheets for these items approximates fair value due to their liquid nature and are classified as Level 1. Trade accounts receivable and other accounts receivable, net: The carrying value reported in the Consolidated Balance Sheets for these items is net of allowances, which includes a degree of counterparty non-performance risk and are classified as Level 2. Accounts payable and other current liabilities: The carrying value reported in the Consolidated Balance Sheets for these items approximates their fair value, which is the likely amount for which the liability with short settlement periods would be transferred to a market participant with a similar credit standing as ours and are classified as Level 2. Long-term debt: The carrying value of our long-term debt reported in the Consolidated Balance Sheets approximates their fair value since they bear interest at variable rates which contain an element of default risk. The fair value of our long-term debt is estimated using Level 2 inputs based on quoted prices for those or similar instruments. Refer to Note 8, “ Debt and Finance Lease Obligations. ” Fair Value of Non-Financial Assets The fair value of the banana reporting unit's goodwill and the prepared food reporting unit's goodwill and remaining trade names and trademarks are highly sensitive to differences between estimated and actual cash flows and changes in the related discount rate used to evaluate the fair value of these assets. We disclosed the sensitivity related to the banana reporting unit's goodwill and the prepared food reporting unit's goodwill and remaining trade names and trademarks in our notes to the consolidated financial statements included in our Annual Report on Form 10-K for the fiscal year ended December 30, 2022. In addition, we currently have certain definite-lived intangible assets related to our fresh and value-added products segment which arose from an acquisition and had an aggregate carrying value of $98.5 million as of the quarter ended June 30, 2023. The carrying values of these definite-lived intangible assets are sensitive to changes in estimated cash flows. Our current estimates of future cash flows depend on our ability to demonstrate successful implementation of our strategies to improve sales and profitability from these activities over the upcoming quarters. If we are unable to demonstrate successful implementation of these strategies, it could lead to impairment of some or all of these assets. Assets held for sale, which had a carrying amount of $1.3 million as of June 30, 2023, primarily consists of an ocean-going vessel. Assets held for sale are recognized at the lower of cost or fair value less cost to sell. The fair value measurements for our held for sale assets are generally based on Level 3 inputs, which include information obtained from third-party appraisals. During the six months ended June 30, 2023, our 60% owned joint venture in Saudi Arabia completed the sale of two distribution centers and related assets which were previously held for sale. We received net proceeds of $66.1 million from the sale of these assets and recorded a gain of $20.5 million which is reflected in gain (loss) on disposal of property, plant and equipment, net and subsidiary on our Consolidated Statement of Operations. Contemporaneously with the execution of the sale and purchase agreement, we entered into an operating lease agreement in which we leased back approximately 31% of the 14. Fair Value Measurements (continued) facilities for a term of five years. The lease agreement allows for an option to renew for additional terms, subject to the written agreement of both parties. During the six months ended June 30, 2023, we completed the sale of an idle production facility in North America which was previously held for sale. We received net proceeds of $23.0 million from the sale of this asset and recorded a gain of $7.0 million which is reflected in gain (loss) on disposal of property, plant and equipment, net and subsidiary on our Consolidated Statement of Operations. Contemporaneously with the execution of the sale and purchase agreement, we entered into an operating lease agreement in which we leased back a portion of the facility for a term of 21 months. During the quarter ended June 30, 2023, we also completed the sale of our plastics business subsidiary in South America for total cash consideration of $17.0 million, and recorded a gain on sale of $3.8 million which is reflected in gain (loss) on disposal of property, plant and equipment, net and subsidiary on our Consolidated Statement of Operations. We received $14.0 million of the proceeds in July 2023 and the remaining $3.0 million will be received in three equal and successive semi-annual installments. As of the quarter ended June 30, 2023, $16.0 million of the consideration is reflected in other accounts receivable on our Consolidated Balance Sheet while the remaining $1.0 million is reflected in other noncurrent assets. The total consideration associated with the sale is subject to customary post-closing adjustments. The assets and liabilities associated with this business were previously classified as held for sale as of the quarter ended March 31, 2023 and had a net carrying amount of $13.0 million at the time of closing. In addition to the above asset sales, during the six months ended June 30, 2023 we received proceeds of $7.6 million from the sale of other assets previously held for sale and recorded an additional gain of $4.8 million which is reflected in gain (loss) on disposal of property, plant and equipment, net and subsidiary on our Consolidated Statement of Operations.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	6 Months Ended
	Jun. 30, 2023
Equity [Abstract]
Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive Loss The following table includes the changes in accumulated other comprehensive loss by component (U.S. dollars in millions): Changes in Accumulated Other Comprehensive Loss by Component (1) Cash Flow Hedges Foreign Currency Translation Adjustment Retirement Benefit Adjustment Total Six months ended June 30, 2023 Balance at December 30, 2022 $ 6.0 $ (36.0) $ (11.5) $ (41.5) Other comprehensive income (loss) 6.3 (3) 2.7 (2) (0.4) 8.6 Amounts reclassified from accumulated (2.0) — 0.4 (1.6) Net current period other comprehensive 4.3 2.7 — 7.0 Balance at June 30, 2023 $ 10.3 $ (33.3) $ (11.5) $ (34.5) Six months ended July 1, 2022 Balance at December 31, 2021 $ (40.9) $ (17.4) $ (8.6) $ (66.9) Other comprehensive income (loss) 44.8 (3) (21.4) (2) 0.1 23.5 Amounts reclassified from accumulated (0.4) — 0.4 — Net current period other comprehensive 44.4 (21.4) 0.5 23.5 Balance at July 1, 2022 $ 3.5 $ (38.8) $ (8.1) $ (43.4) 15. Accumulated Other Comprehensive Loss (continued) (1) All amounts are net of tax and noncontrolling interest. (2) Includes losses of $0.4 million and $7.0 million for the six months ended June 30, 2023 and six months ended July 1, 2022, respectively, on intra-entity foreign currency transactions that are of a long-term-investment nature. (3) Includes a tax effect of $1.4 million and $(3.6) million for the six months ended June 30, 2023 and six months ended July 1, 2022, respectively. The following table includes details about amounts reclassified from accumulated other comprehensive loss by component (U.S. dollars in millions): Amount of (gain) loss reclassified from accumulated other comprehensive loss June 30, 2023 July 1, 2022 Details about accumulated other comprehensive loss components Quarter ended Six months ended Quarter ended Six months ended Affected line item in the statement where net income is presented Cash flow hedges: Designated as hedging instruments: Foreign currency cash flow hedges $ (0.2) $ (0.3) $ (7.8) $ (9.4) Net sales Foreign currency cash flow hedges — 2.2 0.9 4.1 Cost of products sold Interest rate swaps (2.2) (3.9) 2.1 4.9 Interest expense Total $ (2.4) $ (2.0) $ (4.8) $ (0.4) Amortization of retirement benefits: Actuarial losses 0.2 0.3 0.2 0.4 Other expense, net Curtailment and settlement losses 0.1 0.1 — — Other expense, net Total $ 0.3 $ 0.4 $ 0.2 $ 0.4

Shareholders' Equity

Shareholders' Equity	6 Months Ended
	Jun. 30, 2023
Stockholders' Equity Note [Abstract]
Shareholders' Equity	Shareholders’ Equity Our shareholders have authorized 50,000,000 preferred shares at $0.01 par value, of which none are issued or outstanding at June 30, 2023, and 200,000,000 ordinary shares at $0.01 par value, of which 48,086,949 are issued and outstanding at June 30, 2023. The below is a summary of the dividends paid per share during the six months ended June 30, 2023 and July 1, 2022. These dividends were declared and paid within the same fiscal quarter. Six months ended June 30, 2023 July 1, 2022 Dividend Payment Date Cash Dividend per Ordinary Share Dividend Payment Date Cash Dividend per Ordinary Share June 9, 2023 $ 0.20 June 10, 2022 $ 0.15 March 31, 2023 0.15 April 1, 2022 0.15 We paid $16.8 million in dividends during the six months ended June 30, 2023 and $14.3 million in dividends during the six months ended July 1, 2022. On August 1, 2023, our Board of Directors declared a quarterly cash dividend of twenty cents ($0.20) per share, payable on September 8, 2023, to shareholders of record on August 16, 2023.

Redeemable Noncontrolling Inter

Redeemable Noncontrolling Interest Acquisition	3 Months Ended
	Jun. 30, 2023
Noncontrolling Interest [Abstract]
Redeemable Noncontrolling Interest Acquisition	Redeemable Noncontrolling Interest Acquisition As part of the Mann Packing acquisition in 2018, we acquired a put option exercisable by the 25% shareholder of one of the acquired subsidiaries. The put option allowed the noncontrolling shareholder to sell its 25% noncontrolling interest to us for a multiple of the subsidiary's adjusted earnings. As the put option was outside of our control, the carrying value of the 25% noncontrolling interest was presented as a redeemable noncontrolling interest outside of permanent equity on our Consolidated Balance Sheet. At each reporting period, the redeemable noncontrolling interest was recognized at the higher of (1) the initial carrying amount adjusted for accumulated earnings and distributions or (2) the contractually-defined redemption value as of the balance sheet date. During the quarter ended June 30, 2023, the noncontrolling shareholder exercised its put option right and accordingly, we closed the purchase of the remaining 25% of this subsidiary for $5.2 million in cash consideration. The transaction was accounted for as an equity transaction, with the differential between the redeemable noncontrolling interest carrying amount at the time of closing and the cash purchase price being recognized as a $42.7 million increase in paid-in capital within shareholders' equity on our Consolidated Balance Sheet.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jul. 01, 2022	Jun. 30, 2023	Jul. 01, 2022
Pay vs Performance Disclosure
Net income attributable to Fresh Del Monte Produce Inc.	$ 47.7	$ 21.2	$ 86.7	$ 46.9

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Jun. 30, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Recently Issued Accounting Pr_2

Recently Issued Accounting Pronouncements (Policies)	6 Months Ended
	Jun. 30, 2023
Accounting Standards Update and Change in Accounting Principle [Abstract]
Recently Issued Accounting Pronouncements	New Accounting Pronouncements In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting , and subsequent amendments to the guidance, ASU 2021-01 in January 2021 and ASU 2022-06 in December 2022. The amendments in these updates provide optional guidance to companies to ease the potential burden associated with reference rate reform. Specifically, the guidance provides optional expedients and exceptions to apply generally accepted accounting principles to contract modifications and hedging relationships, subject to certain criteria, that reference LIBOR or another reference rate expected to be discontinued. As of December 30, 2022, we had LIBOR-based borrowings and interest rate swaps that referenced LIBOR. Effective January 3, 2023, we amended our agreements and transitioned to the Term Secured Overnight Financing Rate (Term SOFR) for these instruments. We adopted the optional guidance in Topic 848 in conjunction with our contract amendments which allowed us to (i) account for the modification to our debt agreement as a continuation of the existing contract and (ii) continue applying hedge accounting for our interest rate swaps. The adoption of this guidance did not have a material impact on our consolidated financial statements.

Asset Impairment and Other Ch_2

Asset Impairment and Other Charges (Credits), Net (Tables)	6 Months Ended
	Jun. 30, 2023
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 six months ended June 30, 2023 and July 1, 2022 (U.S. dollars in millions): Quarter ended Six months ended June 30, 2023 June 30, 2023 Long-lived and other Exit activity and other Total Long-lived and other Exit activity and other Total Fresh and value-added products segment: Impairment of low productivity grape vines in South America and related costs $ 1.7 $ 0.1 $ 1.8 $ 1.7 $ 0.1 $ 1.8 Other: 2023 cybersecurity incident expenses (1) — 1.7 1.7 — 4.2 4.2 Impairment of idle land in Central America 1.1 — 1.1 1.1 — 1.1 Total asset impairment and other charges, net $ 2.8 $ 1.8 $ 4.6 $ 2.8 $ 4.3 $ 7.1 Quarter ended Six months ended July 1, 2022 July 1, 2022 Long-lived and other Exit activity and other Total Long-lived and other Exit activity and other Total Banana segment: Exit costs related to European facility $ — $ 0.4 $ 0.4 $ — $ 0.4 $ 0.4 Fresh and value-added products segment: Impairment of South American farm 0.2 — 0.2 0.2 — 0.2 Other fresh and value-added segment charges — 0.1 0.1 — 0.1 0.1 Other: Former President/COO severance expense — — — — 1.0 1.0 Total asset impairment and other charges, net $ 0.2 $ 0.5 $ 0.7 $ 0.2 $ 1.5 $ 1.7 (1) $4.2 million charge for the six months ended June 30, 2023 associated with the cybersecurity incident that resulted in costs primarily related to the engagement of specialized legal counsel and other incident response advisors. The Company has cyber incident insurance, with a $1.0 million deductible, and has submitted these charges to its insurer for reimbursement.

Allowance for Credit Losses (Ta

Allowance for Credit Losses (Tables)	6 Months Ended
	Jun. 30, 2023
Receivables [Abstract]
Rollforward of Trade Receivable Allowance for Credit Losses	The table below presents a rollforward of our trade receivable allowance for credit losses for the six months ended June 30, 2023 and July 1, 2022 (U.S. dollars in millions): Six months ended Trade receivables June 30, July 1, Allowance for credit losses: Balance, beginning of period $ 9.3 $ 10.2 Provision for uncollectible amounts 1.0 (0.3) Deductions to allowance related to write-offs (2.2) (0.3) Foreign exchange effects — (0.2) Reclassifications (1) — (0.3) Balance, end of period $ 8.1 $ 9.1 (1) $0.3 million reclassification to the long-term allowance for credit losses, presented in other noncurrent assets on our Consolidated Balance Sheets, from short-term during the six months ended July 1, 2022. The amount in the long-term allowance related to trade receivables as of June 30, 2023 is not material to our Consolidated Financial Statements.
Advances to Growers Along with the Related Allowance for Doubtful Accounts	The following table details the advances to growers and suppliers based on their credit risk profile (U.S. dollars in millions): June 30, 2023 December 30, 2022 Current Past-Due Current Past-Due Gross advances to growers and suppliers $ 26.9 $ 10.1 $ 44.6 $ 5.6
Rollforward of Allowance for Advances to Growers and Suppliers	The allowance for advances to growers and suppliers for the six months ended June 30, 2023 and July 1, 2022 were as follows (U.S. dollars in millions): Six months ended June 30, July 1, Allowance for advances to growers and suppliers: Balance, beginning of period $ 4.9 $ 1.8 Provision for uncollectible amounts 2.7 0.3 Deductions to allowance related to write-offs — (0.1) Balance, end of period $ 7.6 $ 2.0

Share-Based Compensation (Table

Share-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2023
Share-Based Payment Arrangement, Noncash Expense [Abstract]
Stock-based compensation expense included in selling, general and administrative expenses	Stock-based compensation expense related to RSUs and PSUs is included in selling, general and administrative expenses in the accompanying Consolidated Statements of Operations and is comprised as follows (U.S. dollars in millions): Quarter ended Six months ended June 30, July 1, June 30, July 1, RSUs/PSUs $ 2.9 $ 1.1 $ 5.1 $ 2.8
RSU and PSUs awarded	The following table lists the RSUs and PSUs awarded under the 2022 Plan and the Prior Plan during the six months ended June 30, 2023 and July 1, 2022: Date of Award Type of award Units awarded Price per share For the six months ended June 30, 2023 May 4, 2023 RSU 39,662 $ 26.51 March 2, 2023 PSU 91,997 32.13 March 2, 2023 RSU 215,627 32.13 For the six months ended July 1, 2022 June 15, 2022 RSU 105,614 $ 23.71 June 15, 2022 PSU 46,222 23.71 June 2, 2022 RSU 41,307 25.42

Inventories, net (Tables)

Inventories, net (Tables)	6 Months Ended
	Jun. 30, 2023
Inventory Disclosure [Abstract]
Schedule of inventory	Inventories consisted of the following (U.S. dollars in millions): June 30, December 30, Finished goods $ 205.4 $ 205.8 Raw materials and packaging supplies 173.4 233.2 Growing crops 204.5 230.0 Total inventories, net $ 583.3 $ 669.0

Debt and Finance Lease Obliga_2

Debt and Finance Lease Obligations (Tables)	6 Months Ended
	Jun. 30, 2023
Long-Term Debt and Lease Obligation [Abstract]
Schedule of long-term debt and finance lease obligation	The following is a summary of long-term debt and finance lease obligations (U.S. dollars in millions): June 30, December 30, Senior unsecured revolving credit facility (see Credit Facility below) $ 400.5 $ 539.8 Finance lease obligations 8.0 8.6 Total debt and finance lease obligations 408.5 548.4 Less: Current maturities (1.4) (1.3) Long-term debt and finance lease obligations $ 407.1 $ 547.1
Material terms of the credit facility and other working capital facilities	The following is a summary of the material terms of the Revolving Credit Facility and other working capital facilities at June 30, 2023 (U.S. dollars in millions): Term Maturity date Interest rate Borrowing Available Bank of America credit facility 5 years October 1, 2024 6.40% $ 900.0 $ 499.5 Rabobank letter of credit facility 364 days June 13, 2024 Varies 25.0 16.2 Other working capital facilities Varies Varies Varies 27.2 8.9 $ 952.2 $ 524.6

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2023
Earnings Per Share [Abstract]
Schedule of earnings per share	Basic and diluted net income per ordinary share is calculated as follows (U.S. dollars in millions, except share and per share data): Quarter ended Six months ended June 30, July 1, June 30, July 1, Numerator: Net income attributable to Fresh Del Monte Produce Inc. $ 47.7 $ 21.2 $ 86.7 $ 46.9 Denominator: Weighted average number of ordinary shares - Basic 48,032,711 47,825,758 47,962,822 47,745,440 Effect of dilutive securities - share-based awards 180,322 61,365 220,465 126,264 Weighted average number of ordinary shares - Diluted 48,213,033 47,887,123 48,183,287 47,871,704 Antidilutive awards (1) 285,463 104,707 285,463 104,707 Net income per ordinary share attributable to Fresh Del Monte Produce Inc.: Basic $ 0.99 $ 0.44 $ 1.81 $ 0.98 Diluted $ 0.99 $ 0.44 $ 1.80 $ 0.98 (1) Certain unvested RSUs and PSUs are not included in the calculation of net income per ordinary share because the effect would have been antidilutive.

Retirement and Other Employee_2

Retirement and Other Employee Benefits (Tables)	6 Months Ended
	Jun. 30, 2023
Retirement Benefits [Abstract]
Net periodic benefit costs of pension plans and post-retirement plans	The following table sets forth the net periodic benefit costs of our defined benefit pension plans and post-retirement benefit plans (U.S. dollars in millions): Quarter ended Six months ended June 30, July 1, June 30, July 1, Service cost $ 1.4 $ 1.4 $ 2.8 $ 2.9 Interest cost 1.8 1.4 3.6 2.7 Expected return on assets (0.8) (0.7) (1.6) (1.4) Amortization of net actuarial loss 0.1 0.1 0.3 0.3 Net periodic benefit costs $ 2.5 $ 2.2 $ 5.1 $ 4.5

Business Segment Data (Tables)

Business Segment Data (Tables)	6 Months Ended
	Jun. 30, 2023
Segment Reporting [Abstract]
Disaggregation of Revenue	We evaluate performance based on several factors, of which net sales and gross profit are the primary financial measures (U.S. dollars in millions): Quarter ended June 30, 2023 July 1, 2022 Segments: Net Sales Gross Profit Net Sales Gross Profit Fresh and value-added products $ 677.6 $ 62.1 $ 732.4 $ 49.4 Banana 448.8 50.5 421.6 22.2 Other products and services 54.1 4.2 57.9 9.1 Totals $ 1,180.5 $ 116.8 $ 1,211.9 $ 80.7 Six months ended June 30, 2023 July 1, 2022 Segments: Net Sales Gross Profit Net Sales Gross Profit Fresh and value-added products $ 1,321.0 $ 109.1 $ 1,405.1 $ 93.8 Banana 873.9 93.7 827.6 60.0 Other products and services 114.1 11.0 116.2 16.7 Totals $ 2,309.0 $ 213.8 $ 2,348.9 $ 170.5
Net sales by geographic region	Quarter ended Six months ended Net sales by geographic region: June 30, July 1, June 30, July 1, North America $ 704.2 $ 744.4 $ 1,371.4 $ 1,434.4 Europe 224.5 201.4 441.0 400.9 Asia 132.2 133.4 244.3 247.6 Middle East 100.6 111.6 202.4 214.7 Other 19.0 21.1 49.9 51.3 Totals $ 1,180.5 $ 1,211.9 $ 2,309.0 $ 2,348.9
Net sales by product	The following table indicates our net sales by product (U.S. dollars in millions) and, in each case, the percentage of the total represented thereby: Quarter ended Six months ended June 30, July 1, June 30, July 1, Fresh and value-added products: Fresh-cut fruit $ 153.0 13 % $ 145.5 12 % $ 277.7 12 % $ 267.4 12 % Fresh-cut vegetables 82.5 7 % 89.5 7 % 164.4 7 % 173.1 7 % Pineapples 172.5 15 % 166.2 14 % 322.4 14 % 297.8 13 % Avocados 74.7 6 % 107.7 9 % 139.4 6 % 197.6 8 % Non-tropical fruit 41.4 3 % 64.0 5 % 102.7 4 % 127.4 5 % Prepared foods 69.5 6 % 74.6 6 % 136.1 6 % 148.6 6 % Melons 28.0 2 % 25.8 2 % 73.5 3 % 69.5 3 % Tomatoes 5.3 — % 6.5 1 % 10.7 — % 13.0 1 % Vegetables 32.0 3 % 29.5 2 % 58.5 3 % 65.5 3 % Other fruit and vegetables 18.7 2 % 23.1 2 % 35.6 2 % 45.2 2 % Total fresh and value-added products 677.6 57 % 732.4 60 % 1,321.0 57 % 1,405.1 60 % Banana 448.8 38 % 421.6 35 % 873.9 38 % 827.6 35 % Other products and services 54.1 5 % 57.9 5 % 114.1 5 % 116.2 5 % Totals $ 1,180.5 100 % $ 1,211.9 100 % $ 2,309.0 100 % $ 2,348.9 100 %

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Outstanding forward contracts	We had the following outstanding foreign currency forward contracts as of June 30, 2023 (in millions): Foreign currency contracts qualifying as cash flow hedges: Notional amount Euro EUR 74.2 British pound GBP 18.1 Japanese yen JPY 727.2 Chilean peso CLP 11,199.0 Kenyan shilling KES 1,960.7 Korean won KRW 8,000.0
Fair values of derivative instruments	The following table reflects the fair values of derivative instruments, which are designated as level 2 in the fair value hierarchy, as of June 30, 2023 and December 30, 2022 (U.S. dollars in millions): Derivatives designated as hedging instruments (1) Foreign exchange contracts Interest rate swaps Total Balance Sheet location: June 30, December 30, June 30, December 30, June 30, December 30, Asset derivatives: Prepaid expenses and other current assets $ 1.2 $ — $ 4.7 $ — $ 5.9 $ — Other noncurrent assets — — 9.5 15.8 9.5 15.8 Total asset derivatives $ 1.2 $ — $ 14.2 $ 15.8 $ 15.4 $ 15.8 Liability derivatives: Accounts payable and accrued expenses $ 3.9 $ 6.5 $ — $ — $ 3.9 $ 6.5 Other noncurrent liabilities — 0.2 — — — 0.2 Total liability derivatives $ 3.9 $ 6.7 $ — $ — $ 3.9 $ 6.7 (1) See Note 14, “ Fair Value Measurements, ” for fair value disclosures.
Effect of derivative instruments on Consolidated Statements of Comprehensive Income (Loss)	The following table reflects the effect of derivative instruments on the Consolidated Statements of Comprehensive Income for the quarters and six months ended June 30, 2023 and July 1, 2022 (U.S. dollars in millions): Net amount of gain (loss) recognized in other Quarter ended Six months ended Derivative instruments June 30, July 1, June 30, July 1, Foreign exchange contracts $ (0.4) $ 2.2 $ 4.5 $ 19.8 Interest rate swaps, net of tax 4.7 4.4 (0.2) 24.6 Total $ 4.3 $ 6.6 $ 4.3 $ 44.4

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Summary of fair values of assets and liabilities measured on a recurring basis	The following table provides a summary of the fair values of our derivative financial instruments measured on a recurring basis (U.S. dollars in millions): Fair value measurements Foreign currency forward contracts, net liability Interest rate contracts, net asset June 30, December 30, June 30, December 30, Quoted prices in active markets for identical assets (Level 1) $ — $ — $ — $ — Significant observable inputs (Level 2) (2.7) (6.7) 14.2 15.8 Significant unobservable inputs (Level 3) — — — —

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	6 Months Ended
	Jun. 30, 2023
Equity [Abstract]
Schedule of accumulated other comprehensive income (loss)	The following table includes the changes in accumulated other comprehensive loss by component (U.S. dollars in millions): Changes in Accumulated Other Comprehensive Loss by Component (1) Cash Flow Hedges Foreign Currency Translation Adjustment Retirement Benefit Adjustment Total Six months ended June 30, 2023 Balance at December 30, 2022 $ 6.0 $ (36.0) $ (11.5) $ (41.5) Other comprehensive income (loss) 6.3 (3) 2.7 (2) (0.4) 8.6 Amounts reclassified from accumulated (2.0) — 0.4 (1.6) Net current period other comprehensive 4.3 2.7 — 7.0 Balance at June 30, 2023 $ 10.3 $ (33.3) $ (11.5) $ (34.5) Six months ended July 1, 2022 Balance at December 31, 2021 $ (40.9) $ (17.4) $ (8.6) $ (66.9) Other comprehensive income (loss) 44.8 (3) (21.4) (2) 0.1 23.5 Amounts reclassified from accumulated (0.4) — 0.4 — Net current period other comprehensive 44.4 (21.4) 0.5 23.5 Balance at July 1, 2022 $ 3.5 $ (38.8) $ (8.1) $ (43.4) 15. Accumulated Other Comprehensive Loss (continued) (1) All amounts are net of tax and noncontrolling interest. (2) Includes losses of $0.4 million and $7.0 million for the six months ended June 30, 2023 and six months ended July 1, 2022, respectively, on intra-entity foreign currency transactions that are of a long-term-investment nature. (3) Includes a tax effect of $1.4 million and $(3.6) million for the six months ended June 30, 2023 and six months ended July 1, 2022, respectively.
Amounts reclassified from accumulated other comprehensive (loss) income	The following table includes details about amounts reclassified from accumulated other comprehensive loss by component (U.S. dollars in millions): Amount of (gain) loss reclassified from accumulated other comprehensive loss June 30, 2023 July 1, 2022 Details about accumulated other comprehensive loss components Quarter ended Six months ended Quarter ended Six months ended Affected line item in the statement where net income is presented Cash flow hedges: Designated as hedging instruments: Foreign currency cash flow hedges $ (0.2) $ (0.3) $ (7.8) $ (9.4) Net sales Foreign currency cash flow hedges — 2.2 0.9 4.1 Cost of products sold Interest rate swaps (2.2) (3.9) 2.1 4.9 Interest expense Total $ (2.4) $ (2.0) $ (4.8) $ (0.4) Amortization of retirement benefits: Actuarial losses 0.2 0.3 0.2 0.4 Other expense, net Curtailment and settlement losses 0.1 0.1 — — Other expense, net Total $ 0.3 $ 0.4 $ 0.2 $ 0.4

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2023
Stockholders' Equity Note [Abstract]
Schedule of dividend activity	The below is a summary of the dividends paid per share during the six months ended June 30, 2023 and July 1, 2022. These dividends were declared and paid within the same fiscal quarter. Six months ended June 30, 2023 July 1, 2022 Dividend Payment Date Cash Dividend per Ordinary Share Dividend Payment Date Cash Dividend per Ordinary Share June 9, 2023 $ 0.20 June 10, 2022 $ 0.15 March 31, 2023 0.15 April 1, 2022 0.15

General (Details)

General (Details)	6 Months Ended
	Jun. 30, 2023 segment1
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of reportable segments	3

Asset Impairment and Other Ch_3

Asset Impairment and Other Charges (Credits), Net - Asset Impairment and Exit Activity Charges (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jul. 01, 2022	Jun. 30, 2023	Jul. 01, 2022
Schedule of Asset Impairment and Other Charges (Credits) [Line Items]
Long-lived and other asset impairment	$ 2.8	$ 0.2	$ 2.8	$ 0.2
Exit activity and other charges	1.8	0.5	4.3	1.5
Total	4.6	0.7	7.1	1.7
Malpractice Insurance, Deductible	1
Other Restructuring | Fresh and value-added products
Schedule of Asset Impairment and Other Charges (Credits) [Line Items]
Long-lived and other asset impairment		0		0
Exit activity and other charges		0.1		0.1
Total		0.1		0.1
Other Restructuring | Other
Schedule of Asset Impairment and Other Charges (Credits) [Line Items]
Long-lived and other asset impairment	0		0
Exit activity and other charges	1.7		4.2
Total	1.7		4.2
Employee Severance | Other
Schedule of Asset Impairment and Other Charges (Credits) [Line Items]
Long-lived and other asset impairment		0		0
Exit activity and other charges		0		1
Total		0		1
Central America | Other Restructuring | Other products and services
Schedule of Asset Impairment and Other Charges (Credits) [Line Items]
Long-lived and other asset impairment	1.1			1.1
Exit activity and other charges	0			0
Total	1.1			1.1
South America | Other Restructuring | Fresh and value-added products
Schedule of Asset Impairment and Other Charges (Credits) [Line Items]
Long-lived and other asset impairment	1.7		1.7
Exit activity and other charges	0.1		0.1
Total	$ 1.8		$ 1.8
South America | Exit costs | Fresh and value-added products
Schedule of Asset Impairment and Other Charges (Credits) [Line Items]
Long-lived and other asset impairment		0.2		0.2
Exit activity and other charges		0		0
Total		0.2		0.2
Europe | Insurance settlement | Banana
Schedule of Asset Impairment and Other Charges (Credits) [Line Items]
Long-lived and other asset impairment		0		0
Exit activity and other charges		0.4		0.4
Total		$ 0.4		$ 0.4

Income Taxes (Details)

Income Taxes (Details) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023 USD ($)	Jul. 01, 2022 USD ($)	Jun. 30, 2023 USD ($) jurisdiction	Jul. 01, 2022 USD ($)
Income Taxes [Line Items]
Provision for income taxes	$ 11.3	$ 4.9	$ 20.9	$ 10.7
Tax Year 2016
Income Taxes [Line Items]
Real estate collateral, fair market value	7		7
Real estate collateral, net book value	3.8		3.8
Tax Year 2012 to 2015
Income Taxes [Line Items]
Real estate collateral, fair market value	28		28
Real estate collateral, net book value	$ 4.6		$ 4.6
Foreign tax authority
Income Taxes [Line Items]
Number of jurisdictions under examination | jurisdiction			2
Income tax examination, estimate of tax deficiencies			$ 156.3

Allowance for Credit Losses - N

Allowance for Credit Losses - Narrative (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Dec. 30, 2022	Jul. 01, 2022	Dec. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Trade Receivable, after Allowance for Credit Loss, Current	$ 418.4	$ 373.5
Trade Receivable, Allowance for Credit Loss, Current	22.6	21.6
Trade Receivable, Allowance for Credit Loss	8.1	$ 9.3	$ 9.1	$ 10.2
Contract with Customer, Asset, Allowance for Credit Loss	$ 14.5
Average annual loss rate period (in years)	3 years
Minimum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Advances to growers, term	1 year
Longer Term Advances to Growers | Maximum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Advances to growers, term	5 years

Allowance for Credit Losses - R

Allowance for Credit Losses - Rollforward of Trade Receivable Allowance for Credit Losses (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Jul. 01, 2022
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance, beginning of period	$ 9.3	$ 10.2
Provision for uncollectible amounts	1	(0.3)
Deductions to allowance related to write-offs	(2.2)	(0.3)
Foreign exchange effects	0	(0.2)
Reclassifications	0	0.3
Balance, end of period	$ 8.1	$ 9.1

Allowance for Credit Losses - A

Allowance for Credit Losses - Advances to Growers Along with the Related Allowance for Doubtful Accounts (Details) - Advances to Growers - USD ($) $ in Millions	Jun. 30, 2023	Dec. 30, 2022
Current
Gross advances to growers and suppliers	$ 26.9	$ 44.6
Past-Due
Gross advances to growers and suppliers	$ 10.1	$ 5.6

Allowance for Credit Losses -_2

Allowance for Credit Losses - Allowance for Doubtful Accounts and Related Financing Receivables (Details) - Advances to Growers - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Jul. 01, 2022
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance, beginning of period	$ 4.9	$ 1.8
Provision for uncollectible amounts	2.7	0.3
Deductions to allowance related to write-offs	0	0.1
Balance, end of period	$ 7.6	$ 2

Share-Based Compensation - Narr

Share-Based Compensation - Narrative (Details)	6 Months Ended
	Jun. 30, 2023 installment anniversary Rate shares	Jun. 02, 2022 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting rights percentage at each anniversaries | Rate	20%
Award anniversary | anniversary	4
2022 Omnibus Share Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized		2,800,000
2014 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares remaining avaialable		220,000
2022 Omnibus Share Incentive Plan and Prior Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares issued on contingent right to receive, per RSU or PSU	1
2022 Omnibus Share Incentive Plan and Prior Plan | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of units granted (as a percent)	0%
2022 Omnibus Share Incentive Plan and Prior Plan | Minimum | Chairman and Chief Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of units granted (as a percent)	0%
2022 Omnibus Share Incentive Plan and Prior Plan | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of units granted (as a percent)	100%
2022 Omnibus Share Incentive Plan and Prior Plan | Maximum | Chairman and Chief Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of units granted (as a percent)	125%
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options, vest in equal installments | installment	3
Service period	3 years
Performance Shares | 2022 Omnibus Share Incentive Plan and Prior Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options, vest in equal installments | installment	3

Share-Based Compensation - Expe

Share-Based Compensation - Expense included in selling, general and administrative expenses (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jul. 01, 2022	Jun. 30, 2023	Jul. 01, 2022
RSUs/PSUs | Selling, General and Administrative Expenses
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 2.9	$ 1.1	$ 5.1	$ 2.8

Share-Based Compensation - Sche

Share-Based Compensation - Schedule of RSU and PSUs awarded (Details) - $ / shares	May 04, 2023	Mar. 02, 2023	Jun. 15, 2022	Jun. 02, 2022
2022 Omnibus Share Incentive Plan | Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares of restricted stock awarded (shares)	39,662	215,627
Price per share (usd per share)	$ 26.51	$ 32.13
2022 Omnibus Share Incentive Plan | Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares of restricted stock awarded (shares)		91,997
Price per share (usd per share)		$ 32.13
2014 Plan | Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares of restricted stock awarded (shares)			105,614	41,307
Price per share (usd per share)			$ 23.71	$ 25.42
2014 Plan | Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares of restricted stock awarded (shares)			46,222
Price per share (usd per share)			$ 23.71

Inventories, net (Details)

Inventories, net (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 30, 2022
Inventory Disclosure [Abstract]
Finished goods	$ 205.4	$ 205.8
Raw materials and packaging supplies	173.4	233.2
Growing crops	204.5	230
Total inventories, net	$ 583.3	$ 669

Debt and Finance Lease Obliga_3

Debt and Finance Lease Obligations - Schedule of Debt and Finance Lease Obligations (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 30, 2022
Long-Term Debt and Lease Obligation [Abstract]
Senior unsecured revolving credit facility	$ 400.5	$ 539.8
Finance lease obligations	8	8.6
Total debt and finance lease obligations	408.5	548.4
Less: Current maturities	(1.4)	(1.3)
Long-term debt and finance lease obligations	$ 407.1	$ 547.1

Debt and Finance Lease Obliga_4

Debt and Finance Lease Obligations - Schedule of material terms of the credit facility and other working capital facilities (Details) - USD ($) $ in Millions		6 Months Ended
	Oct. 01, 2019	Jun. 30, 2023	Sep. 13, 2022
Debt Instrument [Line Items]
Borrowing limit		$ 952.2
Available borrowings		524.6
Other Working Capital Facilities
Debt Instrument [Line Items]
Borrowing limit		27.2
Available borrowings		$ 8.9
Revolving Credit Facility | Unsecured Debt
Debt Instrument [Line Items]
Term	5 years	5 years
Debt Instrument, Maturity Date, Description		October 1, 2024
Interest rate		6.40%
Borrowing limit			$ 900
Available borrowings		$ 499.5
Rabobank Nederland
Debt Instrument [Line Items]
Term		364 days
Debt Instrument, Maturity Date, Description		June 13, 2024
Borrowing limit		$ 25
Available borrowings		$ 16.2

Debt and Finance Lease Obliga_5

Debt and Finance Lease Obligations - Narrative (Details) - USD ($) $ in Millions			6 Months Ended
	Jun. 15, 2022	Oct. 01, 2019	Jun. 30, 2023	Dec. 30, 2022	Sep. 13, 2022
Line of Credit Facility [Line Items]
Borrowing limit			$ 952.2
Amount outstanding			36.3
Other Working Capital Facilities
Line of Credit Facility [Line Items]
Borrowing limit			$ 27.2
Revolving Credit Facility | Unsecured Debt
Line of Credit Facility [Line Items]
Term		5 years	5 years
Borrowing limit					$ 900
Line of Credit Facility, Increase (Decrease), Net		$ 300
Debt Instrument, Covenant Description		25 million
Line of Credit Facility, Capacity Available for Trade Purchases		$ 150
Revolving Credit Facility | Unsecured Debt | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Line of Credit Facility [Line Items]
Basis spread on variable rate			1.125%
Revolving Credit Facility | Unsecured Debt | Other non-current assets
Line of Credit Facility [Line Items]
Capitalized debt issuance costs			$ 0.4	$ 0.6
Rabobank Nederland
Line of Credit Facility [Line Items]
Term			364 days
Borrowing limit			$ 25
Expiration period	364 days
Amount outstanding	$ 25
Minimum | Eurodollar [Member]
Line of Credit Facility [Line Items]
Long-term Debt, Percentage Bearing Variable Interest, Percentage Rate		1%
Minimum | Base Rate [Member]
Line of Credit Facility [Line Items]
Long-term Debt, Percentage Bearing Variable Interest, Percentage Rate		0%
Minimum | Revolving Credit Facility | Unsecured Debt
Line of Credit Facility [Line Items]
Debt Instrument, Covenant Description		2.25
Maximum
Line of Credit Facility [Line Items]
Credit Agreement term in percentage		50%
Maximum | Eurodollar [Member]
Line of Credit Facility [Line Items]
Long-term Debt, Percentage Bearing Variable Interest, Percentage Rate		1.50%
Maximum | Base Rate [Member]
Line of Credit Facility [Line Items]
Long-term Debt, Percentage Bearing Variable Interest, Percentage Rate		0.50%
Maximum | Unsecured Debt
Line of Credit Facility [Line Items]
Debt Instrument, Covenant Description		2.50
Maximum | Revolving Credit Facility
Line of Credit Facility [Line Items]
Debt Instrument, Covenant Description		3.50
Maximum | Revolving Credit Facility | Unsecured Debt
Line of Credit Facility [Line Items]
Debt Instrument, Covenant Description		3.25

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2023 USD ($)	Dec. 31, 1980 subsidiary
Commitments and Contingencies Disclosure [Line Items]
Accrual for environmental loss contingencies, undiscounted, due in second year	$ 0.6
Accrual for environmental loss contingencies, undiscounted, due in third year	0.5
Accrual for environmental loss contingencies, undiscounted, due in fourth year	0.4
Accrual for environmental loss contingencies, undiscounted, due in fifth year	0.1
North America | Impairment Charges | Fresh and value-added products
Commitments and Contingencies Disclosure [Line Items]
Adjustment of Kunia Well Site environmental liability in Hawaii	(9.9)
Kunia Well Site
Commitments and Contingencies Disclosure [Line Items]
Number of plaintiffs | subsidiary		1
Kunia Well Site cleanup operation, undiscounted estimated remediation costs associated with the cleanup	2.7
Accrual for environmental loss contingencies, undiscounted, due within one year	0.3
Kunia Well Site | Other noncurrent liabilities
Commitments and Contingencies Disclosure [Line Items]
Kunia Well Site cleanup operation, accrual for the expected future clean-up costs	2.4
Kunia Well Site | Accounts payable and accrued expenses
Commitments and Contingencies Disclosure [Line Items]
Kunia Well Site cleanup operation, accrual for the expected future clean-up costs	$ 0.3

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jul. 01, 2022	Jun. 30, 2023	Jul. 01, 2022
Numerator:
Net income attributable to Fresh Del Monte Produce Inc.	$ 47.7	$ 21.2	$ 86.7	$ 46.9
Denominator:
Weighted average number of ordinary shares - Basic (shares)	48,032,711	47,825,758	47,962,822	47,745,440
Effect of dilutive securities - share-based employee options and awards (shares)	180,322	61,365	220,465	126,264
Weighted average number of ordinary shares - Diluted (shares)	48,213,033	47,887,123	48,183,287	47,871,704
Antidilutive awards (shares)	285,463	104,707	285,463	104,707
Net income per ordinary share attributable to Fresh Del Monte Produce Inc.:
Basic (usd per share)	$ 0.99	$ 0.44	$ 1.81	$ 0.98
Diluted (usd per share)	$ 0.99	$ 0.44	$ 1.80	$ 0.98

Retirement and Other Employee_3

Retirement and Other Employee Benefits (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jul. 01, 2022	Jun. 30, 2023	Jul. 01, 2022
United States
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 1.4	$ 1.4	$ 2.8	$ 2.9
Interest cost	1.8	1.4	3.6	2.7
Expected return on assets	(0.8)	(0.7)	(1.6)	(1.4)
Amortization of net actuarial loss	0.1	0.1	0.3	0.3
Net periodic benefit costs	2.5	2.2	5.1	4.5
Foreign Plan
Defined Benefit Plan Disclosure [Line Items]
Net periodic benefit costs	$ 1.5	$ 0.9	$ 1.9	$ 1.7

Business Segment Data - Segment

Business Segment Data - Segment Reconciliations (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jul. 01, 2022	Jun. 30, 2023	Jul. 01, 2022
Segment Reporting Information [Line Items]
Net sales	$ 1,180.5	$ 1,211.9	$ 2,309	$ 2,348.9
Gross profit	116.8	80.7	213.8	170.5
North America
Segment Reporting Information [Line Items]
Net sales	704.2	744.4	1,371.4	1,434.4
Europe
Segment Reporting Information [Line Items]
Net sales	224.5	201.4	441	400.9
Asia
Segment Reporting Information [Line Items]
Net sales	132.2	133.4	244.3	247.6
Middle East
Segment Reporting Information [Line Items]
Net sales	100.6	111.6	202.4	214.7
Other
Segment Reporting Information [Line Items]
Net sales	19	21.1	49.9	51.3
Fresh and value-added products
Segment Reporting Information [Line Items]
Net sales	677.6	732.4	1,321	1,405.1
Gross profit	62.1	49.4	109.1	93.8
Banana
Segment Reporting Information [Line Items]
Net sales	448.8	421.6	873.9	827.6
Gross profit	50.5	22.2	93.7	60
Other products and services
Segment Reporting Information [Line Items]
Net sales	54.1	57.9	114.1	116.2
Gross profit	$ 4.2	$ 9.1	$ 11	$ 16.7

Business Segment Data - Net Sal

Business Segment Data - Net Sales By Product (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jul. 01, 2022	Jun. 30, 2023	Jul. 01, 2022
Segment Reporting Information [Line Items]
Net sales	$ 1,180.5	$ 1,211.9	$ 2,309	$ 2,348.9
Banana
Segment Reporting Information [Line Items]
Net sales	448.8	421.6	873.9	827.6
Other products and services
Segment Reporting Information [Line Items]
Net sales	54.1	57.9	114.1	116.2
Fresh and value-added products
Segment Reporting Information [Line Items]
Net sales	677.6	732.4	1,321	1,405.1
Fresh-cut fruit | Fresh and value-added products
Segment Reporting Information [Line Items]
Net sales	153	145.5	277.7	267.4
Fresh-cut vegetables | Fresh and value-added products
Segment Reporting Information [Line Items]
Net sales	82.5	89.5	164.4	173.1
Pineapples | Fresh and value-added products
Segment Reporting Information [Line Items]
Net sales	172.5	166.2	322.4	297.8
Avocados | Fresh and value-added products
Segment Reporting Information [Line Items]
Net sales	74.7	107.7	139.4	197.6
Non-tropical fruit | Fresh and value-added products
Segment Reporting Information [Line Items]
Net sales	41.4	64	102.7	127.4
Prepared foods | Fresh and value-added products
Segment Reporting Information [Line Items]
Net sales	69.5	74.6	136.1	148.6
Melons | Fresh and value-added products
Segment Reporting Information [Line Items]
Net sales	28	25.8	73.5	69.5
Tomatoes | Fresh and value-added products
Segment Reporting Information [Line Items]
Net sales	5.3	6.5	10.7	13
Vegetables | Fresh and value-added products
Segment Reporting Information [Line Items]
Net sales	32	29.5	58.5	65.5
Other fruit and vegetables | Fresh and value-added products
Segment Reporting Information [Line Items]
Net sales	$ 18.7	$ 23.1	$ 35.6	$ 45.2
Sales | Product Concentration Risk
Segment Reporting Information [Line Items]
Concentration risk (as a percent)	100%	100%	100%	100%
Sales | Product Concentration Risk | Banana
Segment Reporting Information [Line Items]
Concentration risk (as a percent)	38%	35%	38%	35%
Sales | Product Concentration Risk | Other products and services
Segment Reporting Information [Line Items]
Concentration risk (as a percent)	5%	5%	5%	5%
Sales | Product Concentration Risk | Fresh and value-added products
Segment Reporting Information [Line Items]
Concentration risk (as a percent)	57%	60%	57%	60%
Sales | Product Concentration Risk | Fresh-cut fruit | Fresh and value-added products
Segment Reporting Information [Line Items]
Concentration risk (as a percent)	13%	12%	12%	12%
Sales | Product Concentration Risk | Fresh-cut vegetables | Fresh and value-added products
Segment Reporting Information [Line Items]
Concentration risk (as a percent)	7%	7%	7%	7%
Sales | Product Concentration Risk | Pineapples | Fresh and value-added products
Segment Reporting Information [Line Items]
Concentration risk (as a percent)	15%	14%	14%	13%
Sales | Product Concentration Risk | Avocados | Fresh and value-added products
Segment Reporting Information [Line Items]
Concentration risk (as a percent)	6%	9%	6%	8%
Sales | Product Concentration Risk | Non-tropical fruit | Fresh and value-added products
Segment Reporting Information [Line Items]
Concentration risk (as a percent)	3%	5%	4%	5%
Sales | Product Concentration Risk | Prepared foods | Fresh and value-added products
Segment Reporting Information [Line Items]
Concentration risk (as a percent)	6%	6%	6%	6%
Sales | Product Concentration Risk | Melons | Fresh and value-added products
Segment Reporting Information [Line Items]
Concentration risk (as a percent)	2%	2%	3%	3%
Sales | Product Concentration Risk | Tomatoes | Fresh and value-added products
Segment Reporting Information [Line Items]
Concentration risk (as a percent)	0%	1%	0%	1%
Sales | Product Concentration Risk | Vegetables | Fresh and value-added products
Segment Reporting Information [Line Items]
Concentration risk (as a percent)	3%	2%	3%	3%
Sales | Product Concentration Risk | Other fruit and vegetables | Fresh and value-added products
Segment Reporting Information [Line Items]
Concentration risk (as a percent)	2%	2%	2%	2%

Derivative Financial Instrume_3

Derivative Financial Instruments - Outstanding Foreign Currency Forward Contracts that were Entered into to Hedge Forecasted Cash Flows (Details) € in Millions, ₩ in Millions, ¥ in Millions, £ in Millions, Ksh in Millions, $ in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023 USD ($)	Jul. 01, 2022 USD ($)	Jun. 30, 2023 USD ($)	Jul. 01, 2022 USD ($)	Jun. 30, 2023 EUR (€)	Jun. 30, 2023 GBP (£)	Jun. 30, 2023 JPY (¥)	Jun. 30, 2023 CLP ($)	Jun. 30, 2023 KES (Ksh)	Jun. 30, 2023 KRW (₩)
Derivative [Line Items]
Other expense, net	$ (6.4)	$ (2.6)	$ (15.7)	$ (6.7)
Foreign exchange contracts
Derivative [Line Items]
Notional amount					€ 74.2	£ 18.1	¥ 727.2	$ 11,199	Ksh 1,960.7	₩ 8,000

Derivative Financial Instrume_4

Derivative Financial Instruments - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jul. 01, 2022	Jun. 30, 2023	Jul. 01, 2022
Derivative [Line Items]
Derivative, Net Liability Position, Aggregate Fair Value	$ 3.9		$ 3.9
Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months			6.3
Cash Flow Hedge Gain (Loss) to be Reclassified during the next 6 years	(4.8)		(4.8)
Other expense, net	(6.4)	$ (2.6)	$ (15.7)	$ (6.7)
Derivative Instruments, Gain (Loss) Reclassification from Accumulated OCI to Income, Estimate of Time to Transfer			5 years
Net amount of gain (loss) recognized in other comprehensive income (loss) on derivatives	4.3	$ 6.6	$ 4.3	$ 44.4
Interest Rate Contracts
Derivative [Line Items]
Notional amount	400		400
Interest Rate Contracts | 2024
Derivative [Line Items]
Notional amount	200		200
Interest Rate Contracts | 2028
Derivative [Line Items]
Notional amount	$ 200		$ 200

Derivative Financial Instrume_5

Derivative Financial Instruments - Fair Values of Derivative Instruments (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 30, 2022
Derivatives, Fair Value [Line Items]
Foreign currency forward contracts, assets	$ 1.2	$ 0
Interest rate swaps, asset	14.2	15.8
Total	15.4	15.8
Foreign currency forward contracts, Liability	3.9	6.7
Interest rate swaps, liability	0	0
Total	3.9	6.7
Cash Flow Hedge Gain (Loss) to be Reclassified during the next 6 years	(4.8)
Prepaid expenses and other current assets
Derivatives, Fair Value [Line Items]
Foreign currency forward contracts, assets	1.2	0
Interest rate swaps, asset	4.7	0
Total	5.9	0
Other non-current assets
Derivatives, Fair Value [Line Items]
Foreign currency forward contracts, assets	0	0
Interest rate swaps, asset	9.5	15.8
Total	9.5	15.8
Accounts payable and accrued expenses
Derivatives, Fair Value [Line Items]
Foreign currency forward contracts, Liability	3.9	6.5
Interest rate swaps, liability	0	0
Total	3.9	6.5
Other noncurrent liabilities
Derivatives, Fair Value [Line Items]
Foreign currency forward contracts, Liability	0	0.2
Interest rate swaps, liability	0	0
Total	$ 0	$ 0.2

Derivative Financial Instrume_6

Derivative Financial Instruments - Effect on Income (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jul. 01, 2022	Jun. 30, 2023	Jul. 01, 2022
Derivative Instruments, Gain (Loss) [Line Items]
Net amount of gain (loss) recognized in other comprehensive income (loss) on derivatives	$ 4.3	$ 6.6	$ 4.3	$ 44.4
Foreign exchange contracts
Derivative Instruments, Gain (Loss) [Line Items]
Net amount of gain (loss) recognized in other comprehensive income (loss) on derivatives	(0.4)	2.2	4.5	19.8
Interest rate swaps, net of tax
Derivative Instruments, Gain (Loss) [Line Items]
Net amount of gain (loss) recognized in other comprehensive income (loss) on derivatives	$ 4.7	$ 4.4	$ (0.2)	$ 24.6

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Summary of fair values of assets and liabilities measured on recurring basis (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Jul. 01, 2022	Dec. 30, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Proceeds from sales of property, plant and equipment	$ 96.8	$ 6.3
UPC Sale
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Gain (Loss) on Disposition of Business	3.8
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign currency forward contracts, net liability	0		$ 0
Interest rate contracts, net asset	0		0
Fair Value, Measurements, Recurring | Significant Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign currency forward contracts, net liability	(2.7)		(6.7)
Interest rate contracts, net asset	14.2		15.8
Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign currency forward contracts, net liability	0		0
Interest rate contracts, net asset	$ 0		$ 0

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) $ in Millions		6 Months Ended
	Jul. 04, 2023 USD ($)	Jun. 30, 2023 USD ($) distirbutionCenter Rate	Jul. 01, 2022 USD ($)	Mar. 31, 2023 USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Proceeds from sales of property, plant and equipment		$ 96.8	$ 6.3
Leaseback transaction, lease terms		five years
Disposal Group, Held-for-Sale or Disposed of by Sale, Not Discontinued Operations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Gain on disposal of property, plant and equipment, net		$ 4.8
Proceeds from sale of property held-for-sale		7.6
Distribution Centers - Saudi Arabia
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Proceeds from sales of property, plant and equipment		$ 66.1
Distribution centers sold | distirbutionCenter		2
Gain on disposal of property, plant and equipment, net		$ 20.5
Leaseback transaction, percentage | Rate		31%
Distribution Centers - Saudi Arabia | Joint Venture, Saudi Arabia
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity ownership, percentage		60%
Facilities - North America
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Proceeds from sales of property, plant and equipment		$ 23
Gain on disposal of property, plant and equipment, net		$ 7
Leaseback transaction, lease terms		21 months
UPC Sale
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Consideration received		$ 17
Disposal of property plant and equipment, contingent receivable		3
Disposal Group, Including Discontinued Operation, Assets				$ 13
UPC Sale | Trade Accounts Receivable
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Consideration received		16
UPC Sale | Other non-current assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Consideration received		1
UPC Sale | Subsequent Event
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Proceeds from sales of property, plant and equipment	$ 14
Property, Plant and Equipment
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets held for sale related to discontinuance of different assets		1.3
Fresh and value-added products
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Finite-lived intangible assets, net		$ 98.5

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss - Changes in OCI (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Jul. 01, 2022
Changes in Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance, value	$ 1,925.6
Other comprehensive (loss) income, before reclassifications	8.6	$ 23.5
Amounts reclassified from accumulated other comprehensive (loss) income	(1.6)	0
Net current period other comprehensive (loss) income	7	23.5
Balance, value	2,045.5
Foreign currency transaction and translation gain (loss)	0.4	(7)
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, Tax	1.4	(3.6)
Cash Flow Hedges
Changes in Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance, value	6	(40.9)
Other comprehensive (loss) income, before reclassifications	6.3	44.8
Amounts reclassified from accumulated other comprehensive (loss) income	(2)	(0.4)
Net current period other comprehensive (loss) income	4.3	44.4
Balance, value	10.3	3.5
Foreign Currency Translation Adjustment
Changes in Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance, value	(36)	(17.4)
Other comprehensive (loss) income, before reclassifications	2.7	(21.4)
Amounts reclassified from accumulated other comprehensive (loss) income	0	0
Net current period other comprehensive (loss) income	2.7	(21.4)
Balance, value	(33.3)	(38.8)
Retirement Benefit Adjustment
Changes in Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance, value	(11.5)	(8.6)
Other comprehensive (loss) income, before reclassifications	(0.4)	0.1
Amounts reclassified from accumulated other comprehensive (loss) income	0.4	0.4
Net current period other comprehensive (loss) income	0	0.5
Balance, value	(11.5)	(8.1)
Total
Changes in Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance, value	(41.5)	(66.9)
Balance, value	$ (34.5)	$ (43.4)

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Loss - Reclassification from OCI (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jul. 01, 2022	Jun. 30, 2023	Jul. 01, 2022
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, Tax			$ 1.4	$ (3.6)
Net sales	$ 1,180.5	$ 1,211.9	2,309	2,348.9
Cost of products sold	(1,063.7)	(1,131.2)	(2,095.2)	(2,178.4)
Interest expense	(6.5)	(5.8)	(14.4)	(11.1)
Total	47.7	21.2	86.7	46.9
Reclassification out of Accumulated Other Comprehensive Income (Loss) | Cash flow hedges:
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net sales	(0.2)	(7.8)	(0.3)	(9.4)
Cost of products sold	0	0.9	2.2	4.1
Interest expense	(2.2)	2.1	(3.9)	4.9
Total	(2.4)	(4.8)	(2)	(0.4)
Reclassification out of Accumulated Other Comprehensive Income (Loss) | Amortization of retirement benefits:
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Total	0.3	0.2	0.4	0.4
Reclassification out of Accumulated Other Comprehensive Income (Loss) | Actuarial losses
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other expense, net	0.2	0.2	0.3	0.4
Reclassification out of Accumulated Other Comprehensive Income (Loss) | Curtailment and settlement losses
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other expense, net	$ 0.1	$ 0	$ 0.1	$ 0

Shareholders' Equity - Narrativ

Shareholders' Equity - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions						3 Months Ended		6 Months Ended
	Aug. 01, 2023	Jun. 09, 2023	Mar. 31, 2023	Jun. 10, 2022	Apr. 01, 2022	Jun. 30, 2023	Jul. 01, 2022	Jun. 30, 2023	Jul. 01, 2022	Dec. 30, 2022
Stockholders' Equity Note [Abstract]
Preferred shares, shares authorized (shares)						50,000,000		50,000,000
Preferred shares, par value (usd per share)						$ 0.01		$ 0.01
Preferred shares, issued (shares)						0		0
Preferred shares, outstanding (shares)						0		0
Ordinary shares, authorized (shares)						200,000,000		200,000,000		200,000,000
Ordinary shares, par value (usd per share)						$ 0.01		$ 0.01		$ 0.01
Ordinary shares, issued (shares)						48,086,949		48,086,949		47,838,680
Ordinary shares, outstanding (shares)						48,086,949		48,086,949		47,838,680
Dividends declared per ordinary share (usd per share)		$ 0.20	$ 0.15	$ 0.15	$ 0.15	$ 0.20	$ 0.15	$ 0.35	$ 0.30
Payments of dividends, common stock								$ 16.8	$ 14.3
Subsequent Event [Line Items]
Dividends declared per ordinary share (usd per share)		$ 0.20	$ 0.15	$ 0.15	$ 0.15	$ 0.20	$ 0.15	$ 0.35	$ 0.30
Subsequent Event
Stockholders' Equity Note [Abstract]
Dividends declared per ordinary share (usd per share)	$ 0.20
Subsequent Event [Line Items]
Dividends declared per ordinary share (usd per share)	$ 0.20

Shareholders' Equity - Dividend

Shareholders' Equity - Dividends (Details) - $ / shares					3 Months Ended		6 Months Ended
	Jun. 09, 2023	Mar. 31, 2023	Jun. 10, 2022	Apr. 01, 2022	Jun. 30, 2023	Jul. 01, 2022	Jun. 30, 2023	Jul. 01, 2022
Stockholders' Equity Note [Abstract]
Cash Dividend Declared, per Ordinary Share (usd per share)	$ 0.20	$ 0.15	$ 0.15	$ 0.15	$ 0.20	$ 0.15	$ 0.35	$ 0.30

Redeemable Noncontrolling Int_2

Redeemable Noncontrolling Interest Acquisition (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2023	Jul. 01, 2022	Feb. 26, 2018
Noncontrolling Interest [Line Items]
Purchase of noncontrolling interest		$ 5.2	$ 0
UPC Sale
Noncontrolling Interest [Line Items]
Gain (Loss) on Disposition of Business		$ 3.8
Paid-in Capital
Noncontrolling Interest [Line Items]
Settlement of redeemable noncontrolling interest	$ 42.7
Mann Packing Subsidiary, Noncontrolling Interest
Noncontrolling Interest [Line Items]
Ownership percentage, noncontrolling owner	25%	25%		25%
Purchase of noncontrolling interest	$ 5.2