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EMPLOYEE BENEFIT PLANS (Tables)
 12 Months Ended
Dec. 31, 2024
Retirement Benefits [Abstract]  
Schedule of Changes in Projected Benefit Obligations, Fair Value of Plan Assets, and Funded Status of Plan
The funded status of Dole’s defined benefit pension plans was as follows:
U.S. Pension Plans
International Pension Plans
OPRB Plans
 December 31, 2024December 31, 2023December 31, 2024December 31, 2023December 31, 2024December 31, 2023
Change in projected benefit obligation:
(U.S. Dollars in thousands)
Benefit obligation at beginning of the year
$175,722 $181,835 $239,667 $228,147 $13,251 $13,144 
Service cost
205 214 5,627 5,799 — 1 
Interest cost
8,395 8,923 11,773 11,730 714 693 
Net actuarial loss (gain)
3,338 4,802 (1,856)8,482 1,944 2,146 
Curtailments, settlements and terminations, net
— — (6,148)(10,033)— — 
Employee contributions
— — 117 182 — — 
Benefits paid
(18,994)(20,052)(12,066)(10,891)(2,920)(2,733)
Foreign exchange impact and other— — (7,067)6,251 — — 
Benefit obligation at end of the year
$168,666 $175,722 $230,047 $239,667 $12,989 $13,251 
Change in plan assets:
Fair value of plan assets at beginning of the year
$149,246 $154,206 $157,168 $147,925 $— $— 
Actual return on plan assets
9,612 12,311 (668)9,722 — — 
Company contributions
3,999 2,781 13,317 15,725 2,920 2,733 
Employee contributions
— — 117 182 — — 
Benefits paid
(18,995)(20,052)(12,066)(10,891)(2,920)(2,733)
Curtailments, settlements and terminations, net
— — (6,148)(11,998)— — 
Foreign exchange impact and other— — (6,435)6,503 — — 
 Fair value of plan assets at end of the year
$143,862 $149,246 $145,285 $157,168 $— $— 
Funded status
$(24,804)$(26,476)$(84,762)$(82,499)$(12,989)$(13,251)
Amounts recognized in the consolidated balance sheets:
Other assets
$— $— $25,806 $16,033 $— $— 
Pension and postretirement benefits(2,081)(2,189)(14,223)(12,244)(2,187)(2,137)
Pension and postretirement benefits, less current portion(22,723)(24,287)(96,345)(86,288)(10,802)(11,114)
$(24,804)$(26,476)$(84,762)$(82,499)$(12,989)$(13,251)
Schedule of Amounts Recognized in Accumulated Other Comprehensive Loss
Amounts included within accumulated other comprehensive loss (income), before tax, were as follows:
U.S. Pension Plans
International Pension Plans
OPRB Plans
 Year Ended December 31, 2024Year Ended December 31, 2023Year Ended December 31, 2022Year Ended December 31, 2024Year Ended December 31, 2023Year Ended December 31, 2022Year Ended December 31, 2024Year Ended December 31, 2023Year Ended December 31, 2022
 
(U.S. Dollars in thousands)
Net actuarial loss (gain)$30,420 $24,638 $18,341 $29,139 $20,424 $15,180 $2,804 $924 $(1,531)
Prior service benefit — — — (5,725)(5,474)(6,285)— — — 
Total
$30,420 $24,638 $18,341 $23,414 $14,950 $8,895 $2,804 $924 $(1,531)
Schedule of Pension Plan with Accumulated Benefit Obligation in Excess of Plan Assets
The aggregate projected benefit obligation, accumulated benefit obligation and fair value of plan assets of plans with accumulated benefit obligations in excess of plan assets were as follows:
 December 31, 2024December 31, 2023
 (U.S. Dollars in thousands)
Projected benefit obligation
$279,260 $274,467 
Accumulated benefit obligation
257,869 257,434 
Fair value of plan assets
143,863 149,246 
Schedule of Pension Plans with Projected Benefit Obligation in Excess of Plan Assets
The aggregate projected benefit obligation, accumulated benefit obligation and fair value of plan assets of plans with projected benefit obligations in excess of plan assets were as follows:
 December 31, 2024December 31, 2023
 (U.S. Dollars in thousands)
Projected benefit obligation
$292,249 $287,718 
Accumulated benefit obligation
257,869 257,434 
Fair value of plan assets
143,863 149,246 
Schedule of Net Periodic Benefit Costs
The components of net periodic benefit cost (income) and other changes recognized in other comprehensive loss (income) for Dole’s U.S. and international pension plans and OPRB plans were as follows:
U.S. Pension Plans
International Pension Plans
OPRB Plans
 Year Ended December 31, 2024Year Ended December 31, 2023Year Ended December 31, 2022Year Ended December 31, 2024Year Ended December 31, 2023Year Ended December 31, 2022Year Ended December 31, 2024Year Ended December 31, 2023Year Ended December 31, 2022
 (U.S. Dollars in thousands)
Components of net periodic benefit cost (income):
Service cost
$205 $214 $256 $5,627 $5,799 $4,465 $— $1 $3 
Interest cost
8,395 8,923 4,943 11,773 11,730 8,219 714 693 443 
Expected return on plan assets
(11,991)(13,226)(11,274)(8,275)(8,369)(6,814)— — — 
Amortization of:
Net (gain) loss(65)(580)— (1,339)(2,151)2,166 64 (309)— 
Prior service benefit
— — — (638)(639)(618)— — — 
Curtailments, settlements and terminations, net
— — 1,106 934 5,649 220 — — — 
Other— — — — — 36 — — — 
Net periodic cost (income)
$(3,456)$(4,669)$(4,969)$8,082 $12,019 $7,674 $778 $385 $446 
Other changes recognized in other comprehensive loss (income):
Net loss (gain)
$5,717 $5,717 $7,330 $6,156 $3,394 $(33,264)$1,944 $2,146 $(1,697)
Prior service expense (benefit)— — — — — 1,339 — — — 
Amortization of:
Net gain (loss)65 580 — 1,339 2,151 (2,166)(64)309 — 
Prior service benefit
— — — 638 639 618 — — — 
Foreign exchange impact and other— — — 331 (129)34 — — — 
Income tax (benefit) expense
(1,634)(1,574)(1,781)(2,434)(1,307)6,226 (459)(622)402 
Total recognized in other comprehensive loss (income)
$4,148 $4,723 $5,549 $6,030 $4,748 $(27,213)$1,421 $1,833 $(1,295)
Total recognized in net periodic benefit cost and other comprehensive loss (income), net of income taxes
$692 $54 $580 $14,112 $16,767 $(19,539)$2,199 $2,218 $(849)
Schedule of Assumptions
Weighted average assumptions used to determine benefit obligations were as follows:
 
U.S. Pension Plans
International Pension Plans
OPRB Plans
 Year Ended December 31, 2024Year Ended December 31, 2023Year Ended December 31, 2024Year Ended December 31, 2023Year Ended December 31, 2024Year Ended December 31, 2023
Discount rate
5.14 %5.10%5.66 %5.06 %6.03 %5.88%
Rate of compensation increase
3.00 %3.00%3.37 %3.17 %——
Rate of increase in pensions— —2.00 %2.17 %——
Weighted average assumptions used to determine net periodic benefit cost were as follows:
U.S. Pension Plans
International Pension Plans
OPRB Plans
Year Ended December 31, 2024Year Ended December 31, 2023Year Ended December 31, 2022Year Ended December 31, 2024Year Ended December 31, 2023Year Ended December 31, 2022Year Ended December 31, 2024Year Ended December 31, 2023Year Ended December 31, 2022
Discount rate
5.10 %5.31%2.62%5.06 %5.26 %2.61 %5.88 %5.79%3.18%
Rate of compensation increase
3.00 %3.00%3.00%3.17 %3.03 %1.98 %— ——
Rate of increase in pensions———2.15 %2.07 %1.90 %— ——
Rate of return on plan assets
6.70 %6.80%5.10%4.38 %4.36 %3.36 %— —3.36%
The accumulated pension benefit obligation for Dole’s OPRB plan was determined using the following assumed annual rate of increase in the per capita cost of covered health care benefits:
 20242023
Health care costs trend rate assumed for next year
7.23%6.69%
Rate of increase to which the cost of benefits is assumed to decline (the ultimate trend rate)
4.50%4.50%
Year that the rate reaches the ultimate trend rate
20352033
Schedule of Plan Asset Allocations
The following is the target asset mix for Dole’s pension plans, which management believes provides the optimal trade-off of diversification and long-term asset growth:
 
Target
Allocation
Fixed income securities44%
Equity securities17%
Other39%
Total
100%
Dole’s pension plan weighted average asset allocation by asset category was as follows:1
Year Ended
December 31, 2024December 31, 2023
Fixed income securities43%42%
Equity securities17%18%
Other40%40%
Total
100%100%
Schedule of Plan Assets
The carrying value and estimated fair values of Dole’s retirement plan assets are summarized below:
 
Fair Value Measurements as of December 31, 2024 Using
 
 
Quoted Prices in
Active Markets for
Identical Assets
(Level 1)
Significant Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Total
 
(U.S. Dollars in thousands)
Cash and cash equivalents$10,518 $— $— $10,518 
Fixed-income securities25,213 100,188 — 125,401 
Insurance contracts— 29,834 — 29,834 
Equity securities29,271 15,673 — 44,944 
Other955 12,940 — 13,895 
Investments measured at fair value65,957 158,635 — 224,592 
Investments measured at net asset value64,555 
Total plan assets at fair value$65,957 $158,635 $— $289,147 
Fair Value Measurements as of December 31, 2023 Using
 
Quoted Prices in
Active Markets for
Identical Assets
(Level 1)
Significant Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Total
(U.S. Dollars in thousands)
Cash and cash equivalents$7,404 $— $— $7,404 
Fixed-income securities23,790 111,281 — 135,071 
Insurance contracts— 34,288 — 34,288 
Equity securities34,127 17,886 — 52,013 
Other2,071 5,493 — 7,564 
Investments measured at fair value67,392 168,948 — 236,340 
Investments measured at net asset value70,074 
Total plan assets at fair value$67,392 $168,948 $— $306,414 
Schedule of Estimated Future Benefit Payments
The following table presents estimated future benefit payments:
U.S. Pension
Plans
International Pension Plans
OPRB Plans
(U.S. Dollars in thousands)
2025$19,391 $20,240 $2,187 
202618,468 15,247 2,019 
202717,616 15,835 1,700 
202816,745 15,814 1,435 
202915,861 17,931 1,358 
Thereafter65,527 82,268 4,912 
Total$153,608 $167,335 $13,611