Supplemental Consolidating Financial Information

In connection with the issuance of the 7.875% Notes, certain of Chiquita’s domestic subsidiaries (the "Guarantor Subsidiaries"), fully, unconditionally, jointly, and severally guaranteed the payment obligations under the notes. The following supplemental financial information sets forth, on a consolidating basis, the balance sheets, statements of income, statements of comprehensive income and statements of cash flows for Chiquita Brands International, Inc. ("CBII" or the "Parent Company"), for Chiquita Brands L.L.C. ("CBLLC" or the "Co-Issuer"), for the Guarantor Subsidiaries and for Chiquita’s other subsidiaries (the "Non-Guarantor Subsidiaries").

The supplemental condensed consolidating financial information has been prepared pursuant to the rules and regulations for condensed financial information and does not include disclosures included in annual financial statements. Investments in consolidated subsidiaries have been presented under the equity method of accounting. The principal eliminating entries eliminate investments in subsidiaries, intercompany balances and intercompany revenues and expenses. The condensed financial information may not necessarily be indicative of the results of operations or financial position had the guarantor or non-guarantor subsidiaries operated as independent entities.



Chiquita Brands International, Inc.
Condensed Consolidating Statement of Income
Year Ended December 31, 2013
(in thousands)
	CBII			CBLLC			Guarantor			Non-Guarantor			Consolidating			Company
	(Co-issuer)			(Co-issuer)			Subsidiaries			Subsidiaries			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			90,747			91,330			—			234,773
Depreciation	—			5,604			27,958			22,353			—			55,915
Amortization	—			—			9,342			24			—			9,366
Equity in losses (earnings) of investees and subsidiaries	(48,128		)	(97,089		)	(24		)	(258		)	145,241			(258		)
Reserve for (recovery of) grower receivables, net	—			—			(1,067		)	—			—			(1,067		)
Restructuring and relocation costs	(15		)	353			145			(3		)	—			480
Gain on deconsolidation of European smoothie business	—			—			—			—			—			—
Goodwill and trademark impairment	—			—			—			—			—			—
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		)
Income (loss) from continuing operations	(15,815		)	67,589			(196		)	88,450			(155,843		)	(15,815		)
Loss from discontinued operations, net of income taxes	—			—			—			—			—			—
Net income (loss)	$	(15,815	)	$	67,589		$	(196	)	$	88,450		$	(155,843	)	$	(15,815	)



Chiquita Brands International, Inc.
Condensed Consolidating Statement of Comprehensive Income
Year Ended December 31, 2013
(in thousands)
	CBII			CBLLC		Guarantor			Non-Guarantor			Consolidating			Company
	(Co-issuer)			(Co-issuer)		Subsidiaries			Subsidiaries			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 losses on derivatives for the period	—			—		—			(11,111		)	—			(11,111		)
Derivative (gains) losses reclassified into Net sales	—			—		—			29,858			—			29,858
Derivative gains 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 Income
Year Ended December 31, 2012
(in thousands)
	CBII			CBLLC			Guarantor			Non-Guarantor			Consolidating			Company
	(Co-issuer)			(Co-issuer)			Subsidiaries			Subsidiaries			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			97,006			111,408			—			275,895
Depreciation	—			3,998			28,678			21,060			—			53,736
Amortization	—			—			9,394			24			—			9,418
Equity in losses (earnings) of investees and subsidiaries	220,010			215,479			(929		)	33,433			(434,560		)	33,433
Reserve for (recovery of) grower receivables, net	—			—			(869		)	205			—			(664		)
Restructuring and relocation costs	11,065			6,391			13,182			4,791			—			35,429
Gain on deconsolidation of European smoothie business	—			—			—			—			—			—
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	)



Chiquita Brands International, Inc.
Condensed Consolidating Statement of Comprehensive Income
Year Ended December 31, 2012
(in thousands)
	CBII			CBLLC			Guarantor			Non-Guarantor			Consolidating		Company
	(Co-issuer)			(Co-issuer)			Subsidiaries			Subsidiaries			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 reclassified into Cost of sales	—			—			—			(16,053		)	—		(16,053		)
Unrealized gains (losses) on 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	)



Chiquita Brands International, Inc.
Condensed Consolidating Statement of Income
Year Ended December 31, 2011
(in thousands)
	CBII			CBLLC			Guarantor			Non-Guarantor			Consolidating			Company
	(Co-issuer)			(Co-issuer)			Subsidiaries			Subsidiaries			Eliminations			Consolidated
Net sales	$	—		$	729,175		$	1,262,295		$	1,971,918		$	(824,092	)	$	3,139,296
Cost of sales	—			615,927			1,100,168			1,806,276			(824,340		)	2,698,031
Selling, general and administrative	44,815			22,070			114,899			119,681			—			301,465
Depreciation	—			4,150			28,959			18,424			—			51,533
Amortization	—			—			9,394			—			—			9,394
Equity in losses (earnings) of investees and subsidiaries	63,937			1,145			295			6,314			(65,377		)	6,314
Reserve for (recovery of) grower receivables, net	—			—			32,762			205			—			32,967
Restructuring and relocation costs	2,714			913			1,963			262			—			5,852
Gain on deconsolidation of European smoothie business	—			—			—			—			—			—
Goodwill and trademark impairment	—			—			—			—			—			—
Operating income (loss)	(111,466		)	84,970			(26,145		)	20,756			65,625			33,740
Interest income	—			123			317			3,764			—			4,204
Interest expense	(39,702		)	(11,209		)	(79		)	(596		)	—			(51,586		)
Loss on debt extinguishment	(9,025		)	(2,697		)	—			—			—			(11,722		)
Other income (expense), net	134,829			(135,124		)	672			(80		)	(297		)	—
Income (loss) from continuing operations before income taxes	(25,364		)	(63,937		)	(25,235		)	23,844			65,328			(25,364		)
Income tax (expense) benefit	82,200			(41,041		)	(3,317		)	(15,443		)	59,801			82,200
Income (loss) from continuing operations	56,836			(104,978		)	(28,552		)	8,401			125,129			56,836
Loss from discontinued operations, net of income taxes	—			—			—			—			—			—
Net income (loss)	$	56,836		$	(104,978	)	$	(28,552	)	$	8,401		$	125,129		$	56,836



Chiquita Brands International, Inc.
Condensed Consolidating Statement of Comprehensive Income
Year Ended December 31, 2011
(in thousands)
	CBII			CBLLC			Guarantor			Non-Guarantor			Consolidating		Company
	(Co-issuer)			(Co-issuer)			Subsidiaries			Subsidiaries			Eliminations		Consolidated
Net income (loss)	$	56,836		$	(104,978	)	$	(28,552	)	$	8,401		$	125,129	$	56,836
Other comprehensive income (loss), net of tax where applicable:
Unrealized foreign currency translation gains (losses)	—			—			—			241			—		241

Change in fair value of available-for-sale investment	(224		)	—			—			—			—		(224		)
Realized gains of available-for-sale investment reclassified into Other income (expense), net	—			—			—			—			—		—
Net other comprehensive income (loss) related to available-for-sale investment	(224		)	—			—			—			—		(224		)

Unrealized gains (losses) on derivatives for the period	—			—			—			38,903			—		38,903
Derivative (gains) losses reclassified into Net Sales	—			—			—			(7,805		)	—		(7,805		)
Derivative gains reclassified into Cost of sales	—			—			—			(37,019		)	—		(37,019		)
Unrealized gains (losses) on derivatives	—			—			—			(5,921		)	—		(5,921		)

Actuarial gains (losses) for the period, net of tax	—			(3,777		)	—			(69		)	—		(3,846		)
Pension cost amortization	—			224			—			776			—		1,000
Net other comprehensive income (loss) related to defined benefit pension and severance plans	—			(3,553		)	—			707			—		(2,846		)

Other comprehensive income (loss) of investments in subsidiaries	(8,526		)	(4,973		)	—			—			13,499		—

Comprehensive income (loss)	$	48,086		$	(113,504	)	$	(28,552	)	$	3,428		$	138,628	$	48,086



Chiquita Brands International, Inc.
Condensed Consolidating Balance Sheet
December 31, 2013
(in thousands)
	CBII		CBLLC		Guarantor		Non-Guarantor		Consolidating			Company
	(Co-Issuer)		(Co-issuer)		Subsidiaries		Subsidiaries		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
Investments in and accounts with subsidiaries	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



Chiquita Brands International, Inc.
Condensed Consolidating Balance Sheet
December 31, 2012
(in thousands)
	CBII		CBLLC		Guarantor		Non-Guarantor		Consolidating			Company
	(Co-Issuer)		(Co-issuer)		Subsidiaries		Subsidiaries		Eliminations			Consolidated
ASSETS
Current assets:
Cash and equivalents	$	2,601	$	12,704	$	—	$	35,721	$	—		$	51,026
Trade receivables, less allowances	—		43,847		56,551		184,753		—			285,151
Other receivables, net	359		1,275		6,033		57,442		—			65,109
Inventories	—		10,033		40,313		169,695		—			220,041
Prepaid expenses	628		3,922		8,982		27,282		—			40,814
Due from affiliates	93,502		1,683,425		1,011,067		368,329		(3,156,323		)	—
Other current assets	—		1,636		17,257		9,365		(9,923		)	18,335
Total current assets	97,090		1,756,842		1,140,203		852,587		(3,166,246		)	680,476
Property, plant and equipment, net	—		24,885		201,702		168,712		—			395,299
Investments and other assets, net	18,919		20,542		4,484		50,716		(13,133		)	81,528
Trademarks	—		208,085		38,500		179,500		—			426,085
Goodwill	—		—		18,095		—		—			18,095
Other intangible assets, net	—		—		96,195		84		—			96,279
Investments in and accounts with subsidiaries	1,316,926		976,368		3,162		—		(2,296,456		)	—
Total assets	$	1,432,935	$	2,986,722	$	1,502,341	$	1,251,599	$	(5,475,835	)	$	1,697,762

LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Current portion of long-term debt and capital lease obligations	$	—	$	64,749	$	206	$	53	$	—		$	65,008
Accounts payable	1,809		9,620		80,466		182,729		—			274,624
Accrued liabilities	13,554		41,114		55,382		40,573		(9,923		)	140,700
Due to affiliates	762,957		1,178,596		906,288		308,482		(3,156,323		)	—
Total current liabilities	778,320		1,294,079		1,042,342		531,837		(3,166,246		)	480,332
Long-term debt and capital lease obligations, net of current portion	259,520		280,500		488		9		—			540,517
Accrued pension and other employee benefits	13,317		8,149		—		53,678		—			75,144
Deferred gain - sale of shipping fleet	—		—		—		20,204		—			20,204
Deferred tax liabilities	115		79,488		39,302		5,856		(13,133		)	111,628
Other liabilities	11,261		7,580		43,680		37,014		—			99,535
Total liabilities	1,062,533		1,669,796		1,125,812		648,598		(3,179,379		)	1,327,360
Commitments and contingencies	—		—		—		—		—			—
Total shareholders' equity	370,402		1,316,926		376,529		603,001		(2,296,456		)	370,402
Total liabilities and shareholders' equity	$	1,432,935	$	2,986,722	$	1,502,341	$	1,251,599	$	(5,475,835	)	$	1,697,762



Chiquita Brands International, Inc.
Condensed Consolidating Statement of Cash Flows
Year Ended December 31, 2013
(in thousands)
	CBII			CBLLC			Guarantor			Non-Guarantor			Consolidating			Company
	(Co-Issuer)			(Co-Issuer)			Subsidiaries			Subsidiaries			Eliminations			Consolidated
Cash provided (used) by:
Operating cash flow	$	(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
Investing activity with subsidiaries	—			—			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 ABL Revolver	—			36,590			—			—			—			36,590
Repayments of the 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		)
Financing activity with subsidiaries	—			(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



Chiquita Brands International, Inc.
Condensed Consolidating Statement of Cash Flows
Year Ended December 31, 2012
(in thousands)
	CBII		CBLLC			Guarantor			Non-Guarantor			Consolidating			Company
	(Co-Issuer)		(Co-Issuer)			Subsidiaries			Subsidiaries			Eliminations			Consolidated
Cash provided (used) by:
Operating cash flow	$	—	$	(12,756	)	$	25,134		$	20,199		$	—		$	32,577

Capital expenditures	—		(6,888		)	(19,728		)	(26,824		)	—			(53,440		)
Net proceeds from sale of:
Equity method investments	—		—			—			3,142			—			3,142
Other long-term assets	2,601		—			1,341			1,051			—			4,993
Investing activity with subsidiaries	—		—			(6,710		)	—			6,710			—
Other, net	—		—			—			(2,334		)	—			(2,334		)
Investing cash flow	2,601		(6,888		)	(25,097		)	(24,965		)	6,710			(47,639		)

Repayments of long-term debt and capital lease obligations	—		(16,500		)	(37		)	(231		)	—			(16,768		)
Borrowings under the Credit Facility Revolver	—		70,000			—			—			—			70,000
Repayments of the Credit Facility Revolver	—		(30,000		)	—			—			—			(30,000		)
Payments for debt modification and issuance costs	—		(2,405		)	—			—			—			(2,405		)
Financing activity with subsidiaries	—		2,481			—			4,229			(6,710		)	—
Financing cash flow	—		23,576			(37		)	3,998			(6,710		)	20,827
Increase (decrease) in cash and equivalents	2,601		3,932			—			(768		)	—			5,765
Cash and equivalents, beginning of period	—		8,772			—			36,489			—			45,261
Cash and equivalents, end of period	$	2,601	$	12,704		$	—		$	35,721		$	—		$	51,026



Chiquita Brands International, Inc.
Condensed Consolidating Statement of Cash Flow
Year Ended December 31, 2011
(in thousands)
	CBII		CBLLC			Guarantor			Non-Guarantor			Consolidating			Company
	(Co-Issuer)		(Co-Issuer)			Subsidiaries			Subsidiaries			Eliminations			Consolidated
Cash provided (used) by:
Operating cash flow	$	—	$	1,212		$	27,371		$	10,375		$	—		$	38,958

Capital expenditures	—		(5,765		)	(30,332		)	(39,438		)	—			(75,535		)
Contribution to equity method investment	—		—			—			(4,845		)	—			(4,845		)
Net proceeds from sale of:
Equity method investments	—		—			—			3,307			—			3,307
Other long-term assets	—		—			155			3,357			—			3,512
Investing activity with subsidiaries	—		(3,501		)	(154		)	—			3,655			—
Other, net	—		16			(533		)	6,107			—			5,590
Investing cash flow	—		(9,250		)	(30,864		)	(31,512		)	3,655			(67,971		)

Issuances of long-term debt	—		330,000			—			67			—			330,067
Repayments of long-term debt and capital lease obligations	—		(400,265		)	(8		)	(60		)	—			(400,333		)
Payments for debt modification and issuance costs	—		(5,026		)	—			—			—			(5,026		)
Payments of debt extinguishment costs	—		(6,915		)	—			—			—			(6,915		)
Financing activity with subsidiaries	—		—			3,501			154			(3,655		)	—
Financing cash flow	—		(82,206		)	3,493			161			(3,655		)	(82,207		)
Increase (decrease) in cash and equivalents	—		(90,244		)	—			(20,976		)	—			(111,220		)
Cash and equivalents, beginning of period	—		99,016			—			57,465			—			156,481
Cash and equivalents, end of period	$	—	$	8,772		$	—		$	36,489		$	—		$	45,261