v2.4.1.9
|
Supplemental Consolidating Financial Information (Tables)
|
12 Months Ended |
|
|
|
|
| Condensed Consolidating Statement of Income |
| | | | | | | | | | | | | | | | | | | | | | | | | | Chiquita Brands International, Inc. | Condensed Consolidating Statement of Income | | (in thousands) | | | | | | | | | | | | | | | CBII | | CBLLC | | Guarantor | | Non-Guarantor | | Consolidating | | Company | | | (Co-issuer) | | (Co-issuer) | | | | | | Eliminations | | Consolidated | Net sales | | $ | — |
| | $ | 955,302 |
| | $ | 1,214,555 |
| | $ | 2,088,245 |
| | $ | (1,167,878 | ) | | $ | 3,090,224 |
| Cost of sales | | — |
| | 921,895 |
| | 1,070,671 |
| | 1,910,031 |
| | (1,167,480 | ) | | 2,735,117 |
| Selling, general and administrative | | 32,909 |
| | 17,716 |
| | 84,120 |
| | 83,316 |
| | — |
| | 218,061 |
| Depreciation | | — |
| | 4,553 |
| | 25,539 |
| | 21,206 |
| | — |
| | 51,298 |
| Amortization | | — |
| | — |
| | 9,342 |
| | 26 |
| | — |
| | 9,368 |
| Equity in (earnings) losses of investees | | (63,586 | ) | | (96,919 | ) | | 4,214 |
| | (2,750 | ) | | 156,291 |
| | (2,750 | ) | Transaction Costs | | 51,266 |
| | — |
| | — |
| | — |
| | — |
| | 51,266 |
| Restructuring and relocation costs | | 460 |
| | — |
| | — |
| | — |
| | — |
| | 460 |
| Operating income (loss) | | (21,049 | ) | | 108,057 |
| | 20,669 |
| | 76,416 |
| | (156,689 | ) | | 27,404 |
| Interest income | | — |
| | 3 |
| | 33 |
| | 2,679 |
| | — |
| | 2,715 |
| Interest expense | | (21,735 | ) | | (36,707 | ) | | (2,989 | ) | | (465 | ) | | — |
| | (61,896 | ) | Loss on debt extinguishment | | — |
| | (521 | ) | | — |
| | — |
| | — |
| | (521 | ) | Other income (expense), net | | — |
| | — |
| | 300 |
| | (10,206 | ) | | — |
| | (9,906 | ) | Intercompany interest and other | | 580 |
| | (7,246 | ) | | (274 | ) | | 6,542 |
| | 398 |
| | — |
| Income (loss) from continuing operations before income taxes | | (42,204 | ) | | 63,586 |
| | 17,739 |
| | 74,966 |
| | (156,291 | ) | | (42,204 | ) | Income tax (expense) benefit | | (20,332 | ) | | (43,182 | ) | | 749 |
| | (19,704 | ) | | 62,137 |
| | (20,332 | ) | Net income (loss) | | $ | (62,536 | ) | | $ | 20,404 |
| | $ | 18,488 |
| | $ | 55,262 |
| | $ | (94,154 | ) | | $ | (62,536 | ) |
|
| | | | | | | | | | | | | | | | | | | | | | | | | | Chiquita Brands International, Inc. | Condensed Consolidating Statement of Income | | (in thousands) | | | | | | | | | | | | | | | CBII | | CBLLC | | Guarantor | | Non-Guarantor | | Consolidating | | Company | | | (Co-issuer) | | (Co-issuer) | | | | | | Eliminations | | Consolidated | Net sales | | $ | — |
| | $ | 789,846 |
| | $ | 1,231,560 |
| | $ | 1,981,726 |
| | $ | (945,650 | ) | | $ | 3,057,482 |
| Cost of sales | | — |
| | 774,653 |
| | 1,102,136 |
| | 1,777,275 |
| | (945,636 | ) | | 2,708,428 |
| Selling, general and administrative | | 36,970 |
| | 15,726 |
| | 89,680 |
| | 91,330 |
| | — |
| | 233,706 |
| Depreciation | | — |
| | 5,604 |
| | 27,958 |
| | 22,353 |
| | — |
| | 55,915 |
| Amortization | | — |
| | — |
| | 9,342 |
| | 24 |
| | — |
| | 9,366 |
| Equity in (earnings) losses of investees | | (48,128 | ) | | (97,089 | ) | | (24 | ) | | (258 | ) | | 145,241 |
| | (258 | ) | Restructuring and relocation costs | | (15 | ) | | 353 |
| | 145 |
| | (3 | ) | | — |
| | 480 |
| Operating income (loss) | | 11,173 |
| | 90,599 |
| | 2,323 |
| | 91,005 |
| | (145,255 | ) | | 49,845 |
| Interest income | | — |
| | 17 |
| | 171 |
| | 2,668 |
| | — |
| | 2,856 |
| Interest expense | | (22,563 | ) | | (36,913 | ) | | (1,630 | ) | | (38 | ) | | — |
| | (61,144 | ) | Loss on debt extinguishment | | (843 | ) | | (5,432 | ) | | — |
| | — |
| | — |
| | (6,275 | ) | Other income (expense), net | | 1,037 |
| | (143 | ) | | 180 |
| | 2,434 |
| | 14 |
| | 3,522 |
| Income (loss) from continuing operations before income taxes | | (11,196 | ) | | 48,128 |
| | 1,044 |
| | 96,069 |
| | (145,241 | ) | | (11,196 | ) | Income tax (expense) benefit | | (4,619 | ) | | 19,461 |
| | (1,240 | ) | | (7,619 | ) | | (10,602 | ) | | (4,619 | ) | Net income (loss) | | $ | (15,815 | ) | | $ | 67,589 |
| | $ | (196 | ) | | $ | 88,450 |
| | $ | (155,843 | ) | | $ | (15,815 | ) |
|
| | | | | | | | | | | | | | | | | | | | | | | | | | Chiquita Brands International, Inc. | Condensed Consolidating Statement of Income | | (in thousands) | | | | | | | | | | | | | | | CBII | | CBLLC | | Guarantor | | Non-Guarantor | | Consolidating | | Company | | | (Co-issuer) | | (Co-issuer) | | | | | | Eliminations | | Consolidated | Net sales | | $ | — |
| | $ | 707,939 |
| | $ | 1,248,854 |
| | $ | 1,987,888 |
| | $ | (866,344 | ) | | $ | 3,078,337 |
| Cost of sales | | 521 |
| | 657,836 |
| | 1,109,273 |
| | 1,842,302 |
| | (866,892 | ) | | 2,743,040 |
| Selling, general and administrative | | 41,335 |
| | 26,146 |
| | 96,137 |
| | 111,613 |
| | — |
| | 275,231 |
| Depreciation | | — |
| | 3,998 |
| | 28,678 |
| | 21,060 |
| | — |
| | 53,736 |
| Amortization | | — |
| | — |
| | 9,394 |
| | 24 |
| | — |
| | 9,418 |
| | | 220,010 |
| | 215,479 |
| | (929 | ) | | 33,433 |
| | (434,560 | ) | | 33,433 |
| Restructuring and relocation costs | | 11,065 |
| | 6,391 |
| | 13,182 |
| | 4,791 |
| | — |
| | 35,429 |
| Goodwill and trademark impairment | | — |
| | — |
| | 180,105 |
| | 1,779 |
| | — |
| | 181,884 |
| Operating income (loss) | | (272,931 | ) | | (201,911 | ) | | (186,986 | ) | | (27,114 | ) | | 435,108 |
| | (253,834 | ) | Interest income | | — |
| | 24 |
| | 198 |
| | 2,909 |
| | — |
| | 3,131 |
| Interest expense | | (27,167 | ) | | (17,813 | ) | | (80 | ) | | (239 | ) | | — |
| | (45,299 | ) | Loss on debt extinguishment | | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| Other income (expense), net | | 320 |
| | (310 | ) | | 1,028 |
| | (2,283 | ) | | (548 | ) | | (1,793 | ) | Income (loss) from continuing operations before income taxes | | (299,778 | ) | | (220,010 | ) | | (185,840 | ) | | (26,727 | ) | | 434,560 |
| | (297,795 | ) | Income tax (expense) benefit | | (105,239 | ) | | (3,604 | ) | | 17,855 |
| | (17,553 | ) | | 3,302 |
| | (105,239 | ) | Income (loss) from continuing operations | | (405,017 | ) | | (223,614 | ) | | (167,985 | ) | | (44,280 | ) | | 437,862 |
| | (403,034 | ) | Loss from discontinued operations, net of income taxes | | — |
| | — |
| | — |
| | (1,983 | ) | | — |
| | (1,983 | ) | Net income (loss) | | $ | (405,017 | ) | | $ | (223,614 | ) | | $ | (167,985 | ) | | $ | (46,263 | ) | | $ | 437,862 |
| | $ | (405,017 | ) |
|
| Condensed Consolidating Statement of Comprehensive Income |
| | | | | | | | | | | | | | | | | | | | | | | | | | Chiquita Brands International, Inc. | Condensed Consolidating Statement of Comprehensive Income | | (in thousands) | | | | | | | | | | | | | | | CBII | | CBLLC | | Guarantor | | Non-Guarantor | | Consolidating | | Company | | | (Co-issuer) | | (Co-issuer) | | | | | | Eliminations | | Consolidated | Net income (loss) | | $ | (62,536 | ) | | $ | 20,404 |
| | $ | 18,488 |
| | $ | 55,262 |
| | $ | (94,154 | ) | | $ | (62,536 | ) | Unrealized foreign currency translation gains (losses)
| | — |
| | — |
| | — |
| | 16 |
| | — |
| | 16 |
| Realized gains for foreign currency translation on business disposal reclassified into Other income (expense), net
| | — |
| | — |
| | — |
| | 163 |
| | — |
| | 163 |
| Net other comprehensive income (loss) related to foreign currency translation
| | — |
| | — |
| | — |
| | 179 |
| | — |
| | 179 |
| | | | | | | | | | | | | | Unrealized gains (losses) on derivatives for the period | | — |
| | — |
| | — |
| | 15,871 |
| | — |
| | 15,871 |
| Derivative (gains) losses reclassified into Net sales | | — |
| | — |
| | — |
| | (7,391 | ) | | — |
| | (7,391 | ) | Derivative (gains) losses reclassified into Cost of sales | | — |
| | — |
| | — |
| | 4,473 |
| | — |
| | 4,473 |
| Net other comprehensive income (loss) related to derivatives | | — |
| | — |
| | — |
| | 12,953 |
| | — |
| | 12,953 |
| | | | | | | | | | | | | | Actuarial gains (losses) for the period, net of tax | | — |
| | (4,719 | ) | |
| | (3,901 | ) | | — |
| | (8,620 | ) | Pension cost amortization | | — |
| | 410 |
| | — |
| | 779 |
| | — |
| | 1,189 |
| Net other comprehensive income (loss) related to defined benefit pension and severance plans | | — |
| | (4,309 | ) | | — |
| | (3,122 | ) | | — |
| | (7,431 | ) | | | | | | | | | | | | | | Other comprehensive income (loss) of investments in subsidiaries | | 5,701 |
| | 10,010 |
| | — |
| | — |
| | (15,711 | ) | | — |
| | | | | | | | | | | | | | Comprehensive income (loss) | | $ | (56,835 | ) | | $ | 26,105 |
| | $ | 18,488 |
| | $ | 65,272 |
| | $ | (109,865 | ) | | $ | (56,835 | ) |
|
| | | | | | | | | | | | | | | | | | | | | | | | | | Chiquita Brands International, Inc. | Condensed Consolidating Statement of Comprehensive Income | | (in thousands) | | | | | | | | | | | | | | | CBII | | CBLLC | | Guarantor | | Non-Guarantor | | Consolidating | | Company | | | (Co-issuer) | | (Co-issuer) | | | | | | Eliminations | | Consolidated | Net income (loss) | | $ | (15,815 | ) | | $ | 67,589 |
| | $ | (196 | ) | | $ | 88,450 |
| | $ | (155,843 | ) | | $ | (15,815 | ) | Other comprehensive income (loss), net of tax where applicable: | | | | | | | | | | | | | Unrealized foreign currency translation gains (losses) | | — |
| | — |
| | — |
| | (349 | ) | | — |
| | (349 | ) | | | | | | | | | | | | | | Change in fair value of available-for-sale investment | | 157 |
| | — |
| | — |
| | — |
| | — |
| | 157 |
| Realized gains of available-for-sale investment reclassified into Other income (expense), net | | (561 | ) | | — |
| | — |
| | — |
| | — |
| | (561 | ) | Net other comprehensive income (loss) related to available-for-sale investment | | (404 | ) | | — |
| | — |
| | — |
| | — |
| | (404 | ) | | | | | | | | | | | | | | Unrealized gains (losses) on derivatives for the period | | — |
| | — |
| | — |
| | (11,111 | ) | | — |
| | (11,111 | ) | Derivative (gains) losses reclassified into Net Sales | | — |
| | — |
| | — |
| | 29,858 |
| | — |
| | 29,858 |
| Derivative (gains) losses reclassified into Cost of sales | | — |
| | — |
| | — |
| | (7,839 | ) | | — |
| | (7,839 | ) | Net other comprehensive income (loss) related to derivatives | | — |
| | — |
| | — |
| | 10,908 |
| | — |
| | 10,908 |
| | | | | | | | | | | | | | Actuarial gains (losses) for the period, net of tax | | — |
| | 5,697 |
| | — |
| | (2,467 | ) | | — |
| | 3,230 |
| Pension cost amortization | | — |
| | 496 |
| | — |
| | 861 |
| | — |
| | 1,357 |
| Net other comprehensive income (loss) related to defined benefit pension and severance plans | | — |
| | 6,193 |
| | — |
| | (1,606 | ) | | — |
| | 4,587 |
| | | | | | | | | | | | | | Other comprehensive income (loss) of investments in subsidiaries | | 15,146 |
| | 8,953 |
| | — |
| | — |
| | (24,099 | ) | | — |
| | | | | | | | | | | | | | Comprehensive income (loss) | | $ | (1,073 | ) | | $ | 82,735 |
| | $ | (196 | ) | | $ | 97,403 |
| | $ | (179,942 | ) | | $ | (1,073 | ) |
|
| | | | | | | | | | | | | | | | | | | | | | | | | | Chiquita Brands International, Inc. | Condensed Consolidating Statement of Comprehensive Income | | (in thousands) | | | | | | | | | | | | | | | CBII | | CBLLC | | Guarantor | | Non-Guarantor | | Consolidating | | Company | | | (Co-issuer) | | (Co-issuer) | | | | | | Eliminations | | Consolidated | Net income (loss) | | $ | (405,017 | ) | | $ | (223,614 | ) | | $ | (167,985 | ) | | $ | (46,263 | ) | | $ | 437,862 |
| | $ | (405,017 | ) | Other comprehensive income (loss), net of tax where applicable: | | | | | | | | | | | | | Unrealized foreign currency translation gains (losses) | | — |
| | — |
| | — |
| | (194 | ) | | — |
| | (194 | ) | | | | | | | | | | | | | | Change in fair value of available-for-sale investment | | 1,944 |
| | — |
| | — |
| | — |
| | — |
| | 1,944 |
| Realized gains of available-for-sale investment reclassified into Other income (expense), net | | (722 | ) | | — |
| | — |
| | — |
| | — |
| | (722 | ) | Net other comprehensive income (loss) related to available-for-sale investment | | 1,222 |
| | — |
| | — |
| | — |
| | — |
| | 1,222 |
| | | | | | | | | | | | | | Unrealized gains (losses) on derivatives for the period | | — |
| | — |
| | — |
| | (16,928 | ) | | — |
| | (16,928 | ) | Derivative (gains) losses reclassified into Net Sales | | — |
| | — |
| | — |
| | (1,240 | ) | | — |
| | (1,240 | ) | Derivative (gains) losses reclassified into Cost of sales | | — |
| | — |
| | — |
| | (16,053 | ) | | — |
| | (16,053 | ) | Net other comprehensive income (loss) related to derivatives | | — |
| | — |
| | — |
| | (34,221 | ) | | — |
| | (34,221 | ) | | | | | | | | | | | | | | Actuarial gains (losses) for the period, net of tax | | — |
| | (898 | ) | | — |
| | 1,087 |
| | — |
| | 189 |
| Pension cost amortization | | — |
| | 374 |
| | — |
| | 415 |
| | — |
| | 789 |
| Net other comprehensive income (loss) related to defined benefit pension and severance plans | | — |
| | (524 | ) | | — |
| | 1,502 |
| | — |
| | 978 |
| | | | | | | | | | | | | | Other comprehensive income (loss) of investments in subsidiaries | | (33,437 | ) | | (32,913 | ) | | — |
| | — |
| | 66,350 |
| | — |
| | | | | | | | | | | | | | Comprehensive income (loss) | | $ | (437,232 | ) | | $ | (257,051 | ) | | $ | (167,985 | ) | | $ | (79,176 | ) | | $ | 504,212 |
| | $ | (437,232 | ) |
|
| Condensed Consolidating Balance Sheet |
| | | | | | | | | | | | | | | | | | | | | | | | | | Chiquita Brands International, Inc. | Condensed Consolidating Balance Sheet | | (in thousands) | | | CBII | | CBLLC | | Guarantor | | Non-Guarantor | | Consolidating | | Company | | | (Co-Issuer) | | (Co-issuer) | | | | | | Eliminations | | Consolidated | ASSETS | | | | | | | | | | | | | Current assets: | | | | | | | | | | | | | Cash and equivalents | | $ | — |
| | $ | 13,707 |
| | $ | — |
| | $ | 34,453 |
| | $ | — |
| | $ | 48,160 |
| Trade receivables, less allowances | | — |
| | 49,844 |
| | 47,579 |
| | 119,997 |
| | — |
| | 217,420 |
| Other receivables, net | | — |
| | 4,383 |
| | 3,302 |
| | 59,335 |
| | (210 | ) | | 66,810 |
| Inventories | | — |
| | 9,657 |
| | 34,331 |
| | 153,319 |
| | — |
| | 197,307 |
| Prepaid expenses | | 209 |
| | 5,555 |
| | 8,193 |
| | 24,861 |
| | — |
| | 38,818 |
| Other current assets | | — |
| | 10,070 |
| | 11,506 |
| | 503 |
| | (7,530 | ) | | 14,549 |
| Total current assets | | 209 |
| | 93,216 |
| | 104,911 |
| | 392,468 |
| | (7,740 | ) | | 583,064 |
| Property, plant and equipment, net | | — |
| | 15,680 |
| | 194,362 |
| | 186,987 |
| | — |
| | 397,029 |
| Investments and other assets, net | | 22,032 |
| | 11,209 |
| | 4,372 |
| | 79,150 |
| | (6,543 | ) | | 110,220 |
| Trademarks | | — |
| | 208,085 |
| | 38,500 |
| | 179,500 |
| | — |
| | 426,085 |
| Goodwill | | — |
| | — |
| | 18,095 |
| | — |
| | — |
| | 18,095 |
| Other intangible assets, net | | — |
| | — |
| | 77,511 |
| | 34 |
| | — |
| | 77,545 |
| | | 1,431,037 |
| | 1,165,799 |
| | 1,572 |
| | — |
| | (2,598,408 | ) | | — |
| Due from affiliates | | $ | 84,298 |
| | $ | 2,377,190 |
| | $ | 1,537,915 |
| | $ | 626,343 |
| | $ | (4,625,746 | ) | | $ | — |
| Total assets | | $ | 1,537,576 |
| | $ | 3,871,179 |
| | $ | 1,977,238 |
| | $ | 1,464,482 |
| | $ | (7,238,437 | ) | | $ | 1,612,038 |
| | | | | | | | | | | | | | LIABILITIES AND SHAREHOLDERS' EQUITY | | | | | | | | | | | | | Current liabilities: | | | | | | | | | | | | | Current portion of long-term debt and capital lease obligations | | $ | — |
| | $ | 1,500 |
| | $ | 1,674 |
| | $ | 1,529 |
| | $ | — |
| | $ | 4,703 |
| Accounts payable | | 6,795 |
| | 7,672 |
| | 86,010 |
| | 122,809 |
| | — |
| | 223,286 |
| Accrued liabilities | | 31,752 |
| | 24,308 |
| | 54,199 |
| | 48,436 |
| | (7,740 | ) | | 150,955 |
| Total current liabilities | | 38,547 |
| | 33,480 |
| | 141,883 |
| | 172,774 |
| | (7,740 | ) | | 378,944 |
| Long-term debt and capital lease obligations, net of current portion | | 176,431 |
| | 415,858 |
| | 39,945 |
| | 5,284 |
| | — |
| | 637,518 |
| Accrued pension and other employee benefits | | 14,637 |
| | 6,549 |
| | — |
| | 68,195 |
| | — |
| | 89,381 |
| Deferred tax liabilities | | — |
| | 83,188 |
| | 27,720 |
| | — |
| | (6,543 | ) | | 104,365 |
| Due to affiliates | | 981,225 |
| | 1,893,148 |
| | 1,346,665 |
| | 404,708 |
| | (4,625,746 | ) | | — |
| Other liabilities | | 3,402 |
| | 7,919 |
| | 21,979 |
| | 45,196 |
| | — |
| | 78,496 |
| Total liabilities | | 1,214,242 |
| | 2,440,142 |
| | 1,578,192 |
| | 696,157 |
| | (4,640,029 | ) | | 1,288,704 |
| Commitments and contingencies | | | | | | | | | | | | | Total shareholders' equity | | 323,334 |
| | 1,431,037 |
| | 399,046 |
| | 768,325 |
| | (2,598,408 | ) | | 323,334 |
| Total liabilities and shareholders' equity | | $ | 1,537,576 |
| | $ | 3,871,179 |
| | $ | 1,977,238 |
| | $ | 1,464,482 |
| | $ | (7,238,437 | ) | | $ | 1,612,038 |
|
|
| | | | | | | | | | | | | | | | | | | | | | | | | | Chiquita Brands International, Inc. | Condensed Consolidating Balance Sheet | | (in thousands) | | | CBII | | CBLLC | | Guarantor | | Non-Guarantor | | Consolidating | | Company | | | (Co-Issuer) | | (Co-issuer) | | | | | | Eliminations | | Consolidated | ASSETS | | | | | | | | | | | | | Current assets: | | | | | | | | | | | | | Cash and equivalents | | $ | — |
| | $ | 15,851 |
| | $ | — |
| | $ | 38,166 |
| | $ | — |
| | $ | 54,017 |
| Trade receivables, less allowances | | — |
| | 49,325 |
| | 51,189 |
| | 151,554 |
| | — |
| | 252,068 |
| Other receivables, net | | 1,061 |
| | 402 |
| | 5,140 |
| | 49,670 |
| | — |
| | 56,273 |
| Inventories | | — |
| | 15,567 |
| | 34,831 |
| | 160,166 |
| | — |
| | 210,564 |
| Prepaid expenses | | 1,024 |
| | 3,661 |
| | 11,040 |
| | 34,008 |
| | — |
| | 49,733 |
| Due from affiliates | | 68,194 |
| | 2,060,284 |
| | 1,270,479 |
| | 490,208 |
| | (3,889,165 | ) | | — |
| Other current assets | | — |
| | 2,751 |
| | 12,753 |
| | — |
| | (8,964 | ) | | 6,540 |
| Total current assets | | 70,279 |
| | 2,147,841 |
| | 1,385,432 |
| | 923,772 |
| | (3,898,129 | ) | | 629,195 |
| Property, plant and equipment, net | | — |
| | 20,258 |
| | 201,346 |
| | 169,169 |
| | — |
| | 390,773 |
| Investments and other assets, net | | 15,445 |
| | 19,548 |
| | 3,644 |
| | 75,218 |
| | (5,778 | ) | | 108,077 |
| Trademarks | | — |
| | 208,085 |
| | 38,500 |
| | 179,500 |
| | — |
| | 426,085 |
| Goodwill | | — |
| | — |
| | 18,095 |
| | — |
| | — |
| | 18,095 |
| Other intangible assets, net | | — |
| | — |
| | 86,853 |
| | 60 |
| | — |
| | 86,913 |
| | | 1,402,089 |
| | 1,073,711 |
| | 3,186 |
| | — |
| | (2,478,986 | ) | | — |
| Total assets | | $ | 1,487,813 |
| | $ | 3,469,443 |
| | $ | 1,737,056 |
| | $ | 1,347,719 |
| | $ | (6,382,893 | ) | | $ | 1,659,138 |
| | | | | | | | | | | | | | LIABILITIES AND SHAREHOLDERS' EQUITY | | | | | | | | | | | | | Current liabilities: | | | | | | | | | | | | | Current portion of long-term debt and capital lease obligations | | $ | — |
| | $ | 1,500 |
| | $ | 726 |
| | $ | 45 |
| | $ | — |
| | $ | 2,271 |
| Accounts payable | | 1,126 |
| | 8,150 |
| | 89,352 |
| | 149,645 |
| | — |
| | 248,273 |
| Accrued liabilities | | 27,547 |
| | 36,384 |
| | 57,984 |
| | 45,083 |
| | (8,964 | ) | | 158,034 |
| Due to affiliates | | 903,865 |
| | 1,517,129 |
| | 1,122,258 |
| | 345,913 |
| | (3,889,165 | ) | | — |
| Total current liabilities | | 932,538 |
| | 1,563,163 |
| | 1,270,320 |
| | 540,686 |
| | (3,898,129 | ) | | 408,578 |
| Long-term debt and capital lease obligations, net of current portion | | 164,050 |
| | 427,049 |
| | 38,147 |
| | 107 |
| | — |
| | 629,353 |
| Accrued pension and other employee benefits | | 15,223 |
| | 2,818 |
| | — |
| | 59,025 |
| | — |
| | 77,066 |
| Deferred gain - sale of shipping fleet | | — |
| | — |
| | — |
| | 6,290 |
| | — |
| | 6,290 |
| Deferred tax liabilities | | 115 |
| | 66,142 |
| | 42,539 |
| | 661 |
| | (5,778 | ) | | 103,679 |
| Other liabilities | | 1,449 |
| | 8,182 |
| | 8,885 |
| | 41,218 |
| | — |
| | 59,734 |
| Total liabilities | | 1,113,375 |
| | 2,067,354 |
| | 1,359,891 |
| | 647,987 |
| | (3,903,907 | ) | | 1,284,700 |
| Commitments and contingencies | | | | | | | | | | | | | Total shareholders' equity | | 374,438 |
| | 1,402,089 |
| | 377,165 |
| | 699,732 |
| | (2,478,986 | ) | | 374,438 |
| Total liabilities and shareholders' equity | | $ | 1,487,813 |
| | $ | 3,469,443 |
| | $ | 1,737,056 |
| | $ | 1,347,719 |
| | $ | (6,382,893 | ) | | $ | 1,659,138 |
|
|
|
| Condensed Consolidating Statement of Cash Flow |
| | | | | | | | | | | | | | | | | | | | | | | | | | Chiquita Brands International, Inc. | Condensed Consolidating Statement of Cash Flows | | (in thousands) | | | CBII | | CBLLC | | Guarantor | | Non-Guarantor | | Consolidating | | Company | | | (Co-Issuer) | | (Co-Issuer) | | | | | | Eliminations | | Consolidated | Cash provided (used) by: | | | | | | | | | | | | | | | $ | — |
| | $ | 17,908 |
| | $ | 9,028 |
| | $ | 26,865 |
| | $ | — |
| | $ | 53,801 |
| | | | | | | | | | | | | | Capital expenditures | | — |
| | (3,403 | ) | | (13,289 | ) | | (32,959 | ) | | — |
| | (49,651 | ) | Net proceeds from sale of: | | | | | | | | | | | | | Equity method investments | | — |
| | — |
| | — |
| | 3,671 |
| | — |
| | 3,671 |
| Other long-term assets | | — |
| | — |
| | 1,219 |
| | 1,685 |
| | — |
| | 2,904 |
| | | — |
| | (4,583 | ) | | (570 | ) | | — |
| | 5,153 |
| | — |
| Other, net | | — |
| | — |
| | — |
| | (3,685 | ) | | — |
| | (3,685 | ) | Investing cash flow | | — |
| | (7,986 | ) | | (12,640 | ) | | (31,288 | ) | | 5,153 |
| | (46,761 | ) | | | | | | | | | | | | | | Repayments of long-term debt and capital lease obligations | | — |
| | (11,500 | ) | | (831 | ) | | — |
| | — |
| | (12,331 | ) | Borrowings under the 2013 ABL Revolver | | — |
| | 24,000 |
| | — |
| | — |
| | — |
| | 24,000 |
| Repayments of the 2013 ABL Revolver | | — |
| | (24,000 | ) | | — |
| | — |
| | — |
| | (24,000 | ) | Payments for debt modification and issuance costs | | — |
| | (266 | ) | | — |
| | — |
| | — |
| | (266 | ) | Payments of debt extinguishment costs | | — |
| | (300 | ) | | — |
| | — |
| | — |
| | (300 | ) | | | — |
| | — |
| | 4,443 |
| | 710 |
| | (5,153 | ) | | — |
| Financing cash flow | | — |
| | (12,066 | ) | | 3,612 |
| | 710 |
| | (5,153 | ) | | (12,897 | ) | Increase (decrease) in cash and equivalents | | — |
| | (2,144 | ) | | — |
| | (3,713 | ) | | — |
| | (5,857 | ) | Cash and equivalents, beginning of period | | — |
| | 15,851 |
| | — |
| | 38,166 |
| | — |
| | 54,017 |
| Cash and equivalents, end of period | | $ | — |
| | $ | 13,707 |
| | $ | — |
| | $ | 34,453 |
| | $ | — |
| | $ | 48,160 |
|
|
| | | | | | | | | | | | | | | | | | | | | | | | | | Chiquita Brands International, Inc. | Condensed Consolidating Statement of Cash Flows | | (in thousands) | | | CBII | | CBLLC | | Guarantor | | Non-Guarantor | | Consolidating | | Company | | | (Co-Issuer) | | (Co-Issuer) | | | | | | Eliminations | | Consolidated | Cash provided (used) by: | | | | | | | | | | | | | | | $ | (4,420 | ) | | $ | 49,260 |
| | $ | 3,698 |
| | $ | 42,941 |
| | $ | — |
| | $ | 91,479 |
| | | | | | | | | | | | | | Capital expenditures | | — |
| | (3,673 | ) | | (19,167 | ) | | (26,214 | ) | | — |
| | (49,054 | ) | Contribution to equity method investment | | — |
| | — |
| | — |
| | (18,422 | ) | | — |
| | (18,422 | ) | Net proceeds from sale of: | | | | | | | | | | | | | Equity method investments | | — |
| | — |
| | — |
| | 3,396 |
| | — |
| | 3,396 |
| Other long-term assets | | 1,819 |
| | — |
| | 7,645 |
| | 313 |
| | — |
| | 9,777 |
| | | — |
| | — |
| | 8,027 |
| | — |
| | (8,027 | ) | | — |
| Other, net | | — |
| | — |
| | — |
| | 3,541 |
| | — |
| | 3,541 |
| Investing cash flow | | 1,819 |
| | (3,673 | ) | | (3,495 | ) | | (37,386 | ) | | (8,027 | ) | | (50,762 | ) | | | | | | | | | | | | | | Issuances of long-term debt | | — |
| | 429,415 |
| | — |
| | — |
| | — |
| | 429,415 |
| Repayments of long-term debt and capital lease obligations | | — |
| | (412,901 | ) | | (203 | ) | | (86 | ) | | — |
| | (413,190 | ) | Borrowings under the 2013 ABL Revolver | | — |
| | 36,590 |
| | — |
| | — |
| | — |
| | 36,590 |
| Repayments of the 2013 ABL Revolver | | — |
| | (36,590 | ) | | — |
| | — |
| | — |
| | (36,590 | ) | Repayments of the Credit Facility Revolver | | — |
| | (40,000 | ) | | — |
| | — |
| | — |
| | (40,000 | ) | Payments for debt modification and issuance costs | | — |
| | (13,951 | ) | | — |
| | — |
| | — |
| | (13,951 | ) | | | — |
| | (5,003 | ) | | — |
| | (3,024 | ) | | 8,027 |
| | — |
| Financing cash flow | | — |
| | (42,440 | ) | | (203 | ) | | (3,110 | ) | | 8,027 |
| | (37,726 | ) | Increase (decrease) in cash and equivalents | | (2,601 | ) | | 3,147 |
| | — |
| | 2,445 |
| | — |
| | 2,991 |
| Cash and equivalents, beginning of period | | 2,601 |
| | 12,704 |
| | — |
| | 35,721 |
| | — |
| | 51,026 |
| Cash and equivalents, end of period | | $ | — |
| | $ | 15,851 |
| | $ | — |
| | $ | 38,166 |
| | $ | — |
| | $ | 54,017 |
|
|
|
| X |
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