FRESH DEL MONTE PRODUCE INC

For the period ended Dec 27, 2024. Filed Feb 24, 2025.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2024 · Filed Feb 24, 2025

DMC$27.41-1.8%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

See the whole filing, with its images and exhibits

Contents

Consolidated Statements of Cash Flows for the years ended

CONSOLIDATED STATEMENTS OF CASH FLOWS

	Year ended
	December 27,2024	December 29,2023	December 30,2022
Operating activities:
Net income (loss)	$141.6	$(1.6)	$97.7
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	78.5	84.8	92.5
Amortization of debt issuance costs	0.5	0.5	0.6
Share-based compensation expense	6.9	9.9	6.9
Asset impairment charges	3.7	141.3	3.5
Change in uncertain tax positions	(1.0)	1.5	1.7
(Gain) loss on disposal of property, plant and equipment, and subsidiary, net	(39.5)	(37.9)	1.9
Deferred income taxes	3.6	(3.8)	2.5
Adjustment of Kunia Well Site liability	—	—	(9.9)
Gain on release of cumulative translation adjustment	—	(2.4)	—
Other, net	(6.6)	(1.3)	1.6
Changes in operating assets and liabilities
Receivables	(9.8)	(19.3)	(37.4)
Inventories	(1.5)	64.7	(72.1)
Prepaid expenses and other current assets	(2.4)	1.7	(0.2)
Accounts payable and accrued expenses	11.2	(64.1)	(17.8)
Other noncurrent assets and liabilities	(2.7)	3.9	(9.7)
Net cash provided by operating activities	182.5	177.9	61.8
Investing activities:
Capital expenditures	(51.7)	(57.7)	(48.1)
Investments in and advances to unconsolidated companies	(8.0)	(5.3)	(9.7)
Proceeds from sales of property, plant and equipment and subsidiary	74.4	119.9	8.7
Cash paid from settlement of derivatives not designated as hedges	—	—	(0.2)
Insurance proceeds received for damage to property, plant and equipment, net	5.7	—	—
Other investing activities	—	(0.5)	0.2
Net cash provided by (used in) investing activities	20.4	56.4	(49.1)
Financing activities:
Proceeds from long-term debt	620.4	590.5	1,066.3
Payments on long-term debt	(776.3)	(730.3)	(1,045.6)
Purchase of noncontrolling interest	—	(5.2)	—
Distributions to noncontrolling interests	—	(17.9)	(0.9)
Payment of deferred financing costs	(2.2)	—	—
Repurchase and retirement of ordinary shares	—	(11.8)	—
Share-based awards settled in cash for taxes	(0.9)	(0.8)	(1.6)
Dividends paid	(47.8)	(35.9)	(28.7)
Other financing activities	(3.1)	(2.1)	(1.5)
Net cash used in financing activities	(209.9)	(213.5)	(12.0)
Effect of exchange rate changes on cash	5.8	(4.2)	0.4
Net (decrease) increase in cash and cash equivalents	(1.2)	16.6	1.1
Cash and cash equivalents, beginning	33.8	17.2	16.1
Cash and cash equivalents, ending	$32.6	$33.8	$17.2
Supplemental cash flow information:
Cash paid for interest	$20.3	$24.2	$23.5
Cash paid for income taxes	$16.0	$14.9	$13.3

CONSOLIDATED STATEMENTS OF CASH FLOWS (continued)

	Year ended
	December 27,2024	December 29,2023	December 30,2022
Non-cash financing and investing activities:
Right-of-use assets obtained in exchange for new operating lease obligations	$38.2	$51.0	$59.6
Right-of-use assets obtained in exchange for new finance lease obligations	$0.1	$0.2	$0.1
Note receivable received in exchange for minority interest in subsidiary	$0.5	$—	$—
Dividends on restricted stock units	$0.4	$0.4	$—
Non-cash conversion of note receivable in exchange for investment in unconsolidated company	$0.7	$—	$—
Insurance receivable for loss due to property damages	$—	$0.9	$—

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.