Financial Analysis Project for Chiquita
Objective #1: Upon completing this part of the assignment, you will have presented evidence of a competent level of understanding in evaluating the performance of Chiquita by conducting growth and common size analysis on the significant line items in Chiquita financial statements.
Objective #2: Upon completing this part of the assignment, you will have presented evidence of your ability to apply significant concepts, theories and analytical methods in finance by conducting ratio and benchmark analysis using the five categories of ratios which measure how well a company is performing.
Objective #3: Upon completing this part of the assignment, you will have presented evidence of your ability to provide additional supporting evidence and expand your evaluation of financial statements with other analytical tools by showing evidence of the following measures: bond information, tax rate, WACC, beta, EVA, MVA and stock price history.
Objective #4: Upon completing this part of the assignment, you will have presented evidence of your ability to synthesize your research and apply the appropriate decision making skills to solve business problems and document your results at the managerial level.
Chiquita Brands International, Inc.
CONSOLIDATED STATEMENTS OF INCOME
(In thousands, except per share amounts) 2013 2012 2011
Net sales $3,057,482 $3,078,337 $3,139,296
Cost of sales 2,708,428 2,743,040 2,698,031
Selling, general and administrative 234,773 275,895 301,465
Depreciation 55,915 53,736 51,533
Amortization 9,366 9,418 9,394
Equity in (earnings) losses of investees (258) 33,433 6,314
Reserve for (recovery of) grower receivables, net (1,067) (664) 32,967
Restructuring and relocation costs 480 35,429 5,852
Goodwill and trademark impairment
