Dole Food Company's annual report discusses its commitment to providing safe, high quality food products while protecting the environment. It highlights that Dole focuses on growing its core food businesses globally through expansion, joint ventures, and maximizing returns by downsizing non-profitable operations. The report also discusses Dole's efforts in nutrition education to encourage healthy lifestyles and consumption of fruits and vegetables.

1. D o l e F o o d C o m pa n y, I n c .
A n n u a l R e p o r t 

2. DOLE FOOD COMPANY’S worldwide team of growers,
packers,processors,shippers and employees
is committed to consistently providing
safe, high quality fruit, vegetables and food
products while protecting the environment
in which its products are grown and processed.
Dole’s dedication to quality is a commitment solidly
backed by: scientific pest management programs, strin-
gent quality control measures, state-of-the-art production
and transportation technologies, continuous improvement
through research and innovation, dedication to the safety of
our employees, and communities and the environment.

3. F H
INANCIAL IGHLIGHTS
(in millions, except per share data) 1996 1995 1994 1993 1992
Revenue $3,840 $3,804 $3,499 $3,108 $3,120
Income from continuing operations before
cumulative effect of accounting change $ 89 $ ,120 $ , 58 $ 62 $ 66
Discontinued operations – (97) 10 16 (2)
Cumulative effect of accounting change – – – – (48)
Net income $ 89 $ 23 $ 68 $ 78 $ 16
Earnings per common share
Income from continuing operations before
cumulative effect of accounting change $ 1.47 $ 2.00 $ .98 $ 1.04 $ 1.11
Discontinued operations – (1.61) .16 .26 (.04)
Cumulative effect of accounting change – – – – (.81)
Net income $ 1.47 $ .39 $ 1.14 $ 1.30 $ .26
Average common shares outstanding 60 60 60 60 60
Total assets $2,487 $2,442 $3,685 $3,159 $2,926
Capitalization
Short-term debt $ 22 $ ,24 $ , 54 $ , 79 $ , 81
Long-term debt 904 896 1,555 1,111 950
Minority interests 30 26 25 39 35
Common shareholders’ equity 550 508 1,081 1,052 1,001
Total $1,506 $1,454 $2,715 $2,281 $2,067
Book value per common share $ 9.18 $ 8.49 $18.17 $17.70 $16.85
Common stock price at year-end $34.00 $35.00 $23.00 $26.75 $32.13
Market price range
High $ 431⁄2 $ 38 $ 351⁄2 $ 377⁄8 $ 40
Low $ 327⁄8 $ 24 $ 221⁄2 $ 257⁄8 $ 26
Annual cash dividends per common share $ .40 $ .40 $ .40 $ .40 $ .40
Note: Income from continuing operations for 1996, 1993 and 1992 includes pre-tax restructuring charges of $50 million, $43 million and $42 million, respectively.
Income from continuing operations for 1995 includes a pre-tax gain of $62 million related to assets sold or held for sale. The real estate and resorts business distributed
to shareholders in 1995 has been presented throughout this report as discontinued operations.
24.6%
3,840
1,081
3,804
1,052
214
1,001
3,499
193
3,120
3,108
175
166
16.0%
138
550
508
7.6%
6.5%
6.4%
92 93 94 95 96 92 93 94 95 96 92 93 94 95 96 92 93 94 95 96
REVENUE O P E R AT I N G I N C O M E COMMON SHAREHOLDERS’ RETURN EQUITY
ON
EQUITY
(in millions) (in millions) (in percent)
(in millions)
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d o l e f o o d c o m pa n y, i n c .

4. T O S
O UR HAREHOLDERS
Dole celebrated its 145th anniversary in 1996 with a revitalized spirit and
direction. Following the spin-off of its extensive real
estate assets to shareholders in December of 1995, Dole has
singularly focused on building its global food business into one of the
premier food companies of the world.
Dole concentrated on creating shareholder value by focusing management efforts on
increasing the return on assets employed.These efforts included:
Accelerating the growth of its core businesses where Dole has definite competen-
s
cies, competitive advantages, and high existing returns.
Leveraging its global shipping and distribution infrastructure to carry more prod-
s
ucts with marginal incremental costs.
Joint venturing with partners to mutually benefit from the synergies of combined
s
strengths.
Downsizing or liquidating operations that do not meet minimum return on
s
investment criteria.
Selling assets that are either nonproductive or do not produce adequate returns.
s
Concurrently, Dole has shifted its management emphasis from the supply side to the
market side of the business, in order to differentiate itself and meet the unique
requirements of retail chains and consumers in the various regions of the world
served by Dole.
The sum total of these efforts positions Dole to grow its businesses profitably into the
future, reduce debt, and generate cash flow to be used for the further expansion of Dole.
Dole took a number of steps to grow its core businesses in 1996.
E X PA N S I O N
Early in the year, Dole acquired Pascual Hermanos, the largest fruit and vegetable
grower in Spain. Pascual is the largest supplier of iceberg lettuce to the European
continent and, therefore, a strategic acquisition to position Dole to expand its suc-
cessful North American salad business into Europe.
Dole also entered into a joint venture in Norway with the BAMA Group to build
its first European salad plant for the Norwegian market. This plant was built and
entered into production in 1996, and Dole salads quickly gained the leading market
share in Norway.
During the year, Dole also continued the strategic expansion of its distribution net-
works in Europe and Japan. Dole distribution centers now carry an increasing per-
centage of Dole’s total sales in Europe and Japan and offer strategic advantages for
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d o l e f o o d c o m pa n y, i n c .

5. logistical consolidation as well as closer relationships with customers in these coun-
tries. In December of 1996, Dole completed construction and inaugurated its largest
distribution facility in Tokyo, Japan. As the retail industry continues to consolidate,
Dole’s distribution centers, category management efforts, and supply partnerships
continue to strengthen the Dole market position globally.
To leverage its infrastructure and create additional synergies, Dole entered into a joint
venture marketing program with the prestigious Langeberg Foods of South Africa to
market its supply of canned deciduous fruit in Europe that uniquely complement
Dole’s canned pineapple sales on the continent and in the United Kingdom.
Dole also completed the acquisition of Fyffes PLC’s Guatemalan operations and
entered into a shipping agreement to supply the seller part of its European banana
market requirements. This transaction provided an opportunity to expand Dole’s
North American operations as well as improve production and shipping economies
of scale.
While growing its core businesses, Dole is concen-
MAXIMIZING RETURNS
trating on downsizing or liquidating businesses or assets that have not provided ade-
quate returns. Dole continued its program of an orderly liquidation of its North
American agricultural lands, and announced in December 1996 the restructuring
and liquidation of its dried fruit business in North America.
As a result of the significant reduction in debt, Dole entered into a new $600 million
five-year revolving credit facility, which replaces its former $1 billion credit facility.
Agents in the new facility are Chase Manhattan Bank, Bank of America and Citibank.
Board of Directors
(Seated – Left to Right)
Elaine L. Chao and David H. Murdock
(Standing – Left to Right)
Richard M. Ferry, Zoltan Merszei, James
F. Gary, Mike Curb, David A. DeLorenzo
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d o l e f o o d c o m pa n y, i n c .

6. To increase shareholder value, Dole also announced a program providing for the
repurchase of up to five percent of its outstanding common shares. Shares will be
repurchased from time to time based on prevailing market conditions.
NUTRITION E D U C AT I O N Dole proudly produces nutritious, wholesome
products that enable consumers to lead a healthier lifestyle. Dedicated to increasing
consumer knowledge on the benefits of good nutrition, Dole’s mission is to encour-
age people to eat at least five servings of fruits and vegetables a day. Much of Dole’s
nutritional educational resources are focused on children. The “5 A Day
Adventures,” a nutrition education CD-ROM, teaches children to eat five servings
of fruits and vegetables a day and is available free to schools.This interactive tool is
now in use in more than 32,000 schools nationwide.
Dole is expanding in the area of nutritional education by underwriting a study in
collaboration with nutrition experts at University of California, Los Angeles and
Mayo Clinic to ascertain and assemble the nutritional values of various foods. In
conjunction with this project, Dole is undertaking the compilation of a nutritional
encyclopedia to designate proper consumption of fruits, vegetables, grains, nuts and
protein. Eventually the information will be disseminated to customers, consumers,
and the general public to promote nutritional awareness to create a healthier society.
Dole continues to see excellent prospects for growth. The developing markets in
Europe, Asia and Latin America, where per capita consumption of bananas and
pineapples is still low, offer opportunities for continued market expansion.
Introductions of new products, such as Dole’s expanding salad lines and new fruit
cups, offer excellent growth potential both domestically and internationally. Joint
ventures with supply partners, which leverage shipping and distribution assets, con-
tinue to offer Dole attractive possibilities for sound economic growth.
I am also very pleased with the depth and experience of our entire management
team. Dole has a multi-cultural reservoir of talent which is its most valuable
resource. This exceptional workforce enables Dole to successfully grow the Dole
brand across the globe.
We wish to thank our employees, shareholders and customers for their continued
support and confidence.
Sincerely,
David H. Murdock
Chairman and Chief Executive Officer

7. D W O
OLE ORLDWIDE PERATIONS
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5 Corporate
FOOD OPERATING DIVISIONS AND LOCATIONS FOOD MARKETING DIVISIONS LOCATIONS
AND
Morocco
Nicaragua EUROPE AND Costa Rica
EUROPE AND AFRICA
Netherlands
Belgium Panama Dominican Republic
MIDDLE EAST
Norway
Cameroon Peru Albania Ecuador
Oman
Canary Islands Venezuela Algeria Guadeloupe
Poland
France Windward Islands Austria Guatemala
Portugal
Germany Azerbaijan Honduras
ASIA
Qatar
Ghana Bahrian Jamaica
Australia
Romania
Greece Belarussia Martinique
China
Russia
Italy Belgium Mexico
Japan
Saudia Arabia
Ivory Coast Bosnia Netherlands-Antilles
New Zealand
Senegal
Netherlands Bulgaria Panama
Philippines
Slovakia
Somalia Croatia Peru
Thailand
Spain
South Africa Czech Republic Trinidad & Tobago
NORTH AMERICA
Sweden
Spain Denmark Uruguay
Canada
Switzerland
Tunisia Estonia Venezuela
United States
Syria
Turkey Egypt ASIA
Arizona
Tunisia
United Kingdom Finland Australia
California
Turkey
France
LATIN AMERICA AND China
Florida
Ukraine
Germany
CARIBBEAN Hong Kong
Hawaii
United Arab Emirates
Greece
Argentina Indonesia
Washington
United Kingdom
Hungary
Chile Japan
Uzbekistan
Iceland
Colombia Malaysia
India LATIN AMERICA
Costa Rica New Zealand
AND
Ireland
Dominican Republic Philippines
CARIBBEAN
Italy
Ecuador Singapore
Argentina
Jordan
Guadeloupe South Korea
Bahamas
Kuwait
Guatemala Taiwan
Barbados
Latvia
Honduras Thailand
Bermuda
Lebanon
Jamaica Brazil NORTH AMERICA
Lithuania
Martinique Chile Canada
Luxembourg
Mexico Colombia United States
Malta
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d o l e f o o d c o m pa n y, i n c .

8. Dole
North America
Dole North America generated $1.8 billion of 1996 revenue of which 28
percent was sourced in Latin America, 16 percent from
the Far East and 56 percent from within North America.
These operations include the distribution, marketing and
sales of bananas sourced in Latin America, deciduous fruit
sourced in Chile, and pineapple and canned fruit products
sourced in Asia. Also included are citrus, deciduous fruits and
vegetables procured locally and sold primarily in the North
The complementary winter
and summer growing seasons
American market. This sourcing diversification provides Dole with a
of Monterey, California and
year-round supply of a wide array of fruit and vegetable products.
Yuma, Arizona offer year-
round production for Dole’s
value added salad and
vegetable business, the
The fresh vegetable market in North America is a $25 billion
V E G E TA B L E S
fastest growing segment in
business sourced from a large number of regional suppliers, most of which offer
the grocery store today.
limited product selection and seasonal supplies. Dole’s strategy is to offer a wide range
of products year-round to provide retailers an efficient, dependable source of supply.
As the retail food chains continue to consolidate, Dole believes its strategy will attract
an increasing percentage of food chains as retailers seek fewer suppliers that consistent-
ly offer quality, dependable supply and efficient logistical support.A continuing focus
on the marketing and customer service aspects of the business distinguish Dole in the
market place and builds long-term, brand based relationships with its customers.
Fresh cut salads and packaged vegetable assortments continue to increase market
share in North America reaching an estimated eight percent of total vegetable sales
in 1996, or $2 billion, a 22 percent increase over 1995. Dole’s growth in the value
added market in 1996 exceeded the overall market growth. Dole continued to be a
leader in fresh cut salads by pioneering an entirely new fresh cut segment, the single
David H. Murdock
Chairman and Chief Executive Officer serve salads. Dole Lunch For One, introduced to supermarkets in early 1996,
David A. DeLorenzo
includes a single portion, complete salad and bread accompaniment.The product is
President and Chief Operating Officer
Page 
d o l e f o o d c o m pa n y, i n c .

9. F RE S H
year-round

10. A D VA N C E D
technology

11. Innovative in-field harvest- designed for the consumer who wants a healthy, quick lunch. Dole Lunch For One
ing and state-of-the-art
is the top selling single serve salad and consumers confirm it as the most nutritious,
packing plants satisfy
convenient and the best value on the market today.
rapidly growing consumer
demand for convenient sal-
Dole’s distribution system and customer service continue to expand and improve.
ads and vegetables. More
The highly automated cooler in Marina, California affords customers the quickest
than 25% of American
consumers eat fresh salads
and most accurate truck pick-up in the produce industry. In addition to distribut-
from a bag.
ing products from Soledad, California, Yuma, Arizona and New York City, Dole’s
national distribution system was further enhanced in 1996 by distributing products
from Bolingbrook, Illinois (a Chicago suburb) and Atlanta, Georgia. To further
Dole’s penetration of the Eastern markets, a third state-of-the-art processing plant
will be built in Ohio in 1997.When this plant is functional in 1998, it will reduce
Dole’s recently developed the response and lead time for buyers in the East to one or two days. Dole contin-
fresh cut rack in-store
ues to be on the leading edge of providing retailers assistance in managing their busi-
merchandising system
nesses.A comprehensive category management program has been developed to help
allows value added bagged
produce to be organized
retailers better manage produce inventories and space in the supermarket. As another
and displayed prominently
service to the retailer, Dole is providing an in-store merchandising system to enable
and attractively to consumers.
retailers to better organize sections for easier shopping and customer convenience.
The fresh fruit division supplies Dole retail customers with a
F R E S H F RU I T
dependable source of high quality fruit on a year-round basis. Core fruit products
— bananas, apples, oranges, grapes, pears, stonefruit, pineapples and specialty items
such as melons and kiwis — are those most in demand by consumers. Products are
sourced throughout the Americas to ensure that selections are available throughout
all the North American seasons. This not only reduces seasonal fluctuation in sales
but permits sales personnel to be in contact with retail store buyers year-round
maintaining relationships and enhancing customer service capacity.
Focusing more on the customer service aspect of the business, Dole is downsizing its
investment in agricultural properties. By concentrating resources on processing and
distribution, Dole believes it can deliver greater value to both its customers and share-
holders. This customer service orientation includes a 100 percent containerized
Fresh, sliced, cubed,
crushed or chunked, Dole banana delivery capacity, establishing strong long-term relationships with customers,
pineapple has been a
cross marketing various product offerings and investing in processing technology that
worldwide bestseller for
permits optimal sorting and storage of products to enable products to retain freshness.
decades.
Page 
d o l e f o o d c o m pa n y, i n c .

12. Fresh fruit is sourced from Dole continues to enjoy strong market preference for its tra-
PA C K A G E D F R U I T
California, Florida, Hawaii,
ditional canned pineapple products as well as for its tropical fruit salads. Through
Washington, and through
marketing and packaging innovation, traditional Dole products are enjoying increas-
the jet-fresh program in
Chile. Dole boasts the
ing market share by meeting the specific needs of particular customers.This contin-
largest fully integrated
uing emphasis on customer service is a key to Dole’s success in growing market
citrus organization in
share while maintaining good financial returns.
North America with pro-
duction from over 30,000
Market share for the holiday periods approached near record levels of 50 percent on
acres of prime farmland.
Dole is also the continent’s
both pineapple and juice. Two major consumer promotions in conjunction with
leading supplier of table
American Hawaiian Cruise Lines at Easter and a joint promotion with Microsoft for
grapes.
the holiday season generated large displays of canned pineapple, pineapple juice and
tropical fruit salad in grocery stores, drug stores and mass merchandisers.
Following its successful debut in Europe, Dole Pineapple Chunks and Tropical Fruit
Dole apples enjoy a consis-
tently high rank in Asia
Salads, packaged in clear plastic cups, are presently being test marketed on retail
where uniform color, shape
shelves in Seattle and Portland.This new method of packaging fresh fruit is designed
and crispiness are the
to satisfy the consumer’s need for safe, healthy and convenient snacks. Additional
critical factors for success.
In Hong Kong, Dole
fruit items will be added in 1997.
controls 15 percent of the
apple market.
Dole Pizza Tidbits were introduced nationally in 1996 and have become a hit with
pizza parlor operators. Processed pineapple continues to have significant growth
opportunities in the area of sandwich toppings, salad bars and as an ingredient for
Asian cooking.The combination of a strong base business coupled with new prod-
ucts drove volume and earnings to historical highs in 1996.
Gregory L. Costley, Lawrence A. Kern, Peter M. Nolan
President – Dole North America Fruit President – Dole Fresh Vegetables President – Dole Packaged Foods
Pa g e 
d o l e f o o d c o m pa n y, i n c .

13. Q UA L I T Y
variety
P a g e 
d o l e f o o d c o m pa n y, i n c .

14. Dole
Latin America
Dole Latin America production and exports grew to 137.5 million boxes
during 1996, produced in its traditional South and
Central American operations as well as in certain Caribbean
countries. Bananas, pineapples, grapes, apples, pears, kiwis,
stonefruit, mangos and melons are shipped in modern refrigerated
vessels not only to North America, Western and Eastern Europe, but
also to the Mid- and Far-Eastern markets.
Dole supplies its customers Despite very adverse climatic conditions in Central
I N C R E A S E D P RO D U C T I O N
year-round through its
America associated with excessive rainfall in 1996, Dole was able to increase its own
extensive sourcing capabili-
banana production as well as that from associate growers. More than 21,000 Dole
ties in Latin America.
Dole’s refrigerated container
employees take excellent care of all products produced on company-owned farms,
shipping fleet, the world’s
constantly striving for higher yields, better quality and lower costs. In countries
largest, rapidly delivers
where Dole does not control production, it assists independent growers to success-
produce to global markets.
fully improve productivity and the quality of crops, enabling Dole to maintain the
highest standard of the industry in the countries in which it operates. A team of
highly skilled agronomists and other technical personnel in each country help to
achieve desired results and maintain high standards. Dole programs addressing
environmental concerns and worker safety lead the industry in all countries in
which it operates.
While the total Latin America banana production increased
NEW MARKETS
approximately 3.5 percent in 1996, Dole’s production and sourcing of bananas was
up 10 percent versus 1995.This additional production was principally used to serve
new markets, primarily in Eastern Europe. Dole’s ability to remain a low cost producer
is a key factor in its success in the sales and marketing of increased banana volumes.
Juergen Schumacher
President – Dole Latin America North America continues to be Dole’s largest banana market, but remarkable growth
Roberto Zacarias
has taken place in Russia where a regular shipping program into St. Petersburg com-
President – Dole Honduran Beverage
Pa g e 
d o l e f o o d c o m pa n y, i n c .

15. WO R L DW I D E
distribution
Pa g e 
d o l e f o o d c o m pa n y, i n c .

16. P RE M I E R
grower

17. Fresh bananas arriving menced in 1995. Today, Dole is the dominant brand sold in Russia with deliveries
directly from the harvest
through the Baltic and Black Sea ports. In addition, during 1996 the Chinese sig-
field are readied for clean-
nificantly increased banana consumption with the support of Dole bananas shipped
ing, washing, inspection
and grading. Once packed,
both from Ecuador and the Philippines.
they are shipped in refrig-
Dole Chile continued its exports of grapes, apples,
erated containers to prevent NUMBER CHILE
ONE IN
ripening until they reach
pears, stonefruit and kiwis at a record pace and remains Chile’s number one exporter
market. Dole Latin
of fruits. Chile has soil and climate comparable to that of California’s fertile San
America sources bananas
from a well diversified per-
Joaquin Valley enabling it to provide the same quality and variety of fruit that
manent sourcing structure
Americans have come to expect from North American growers. Located in the
transporting bananas from
Southern Hemisphere, Chile’s growing season is the exact opposite of the United
Colombia, Costa Rica,
Ecuador, Guatemala,
States. Produced under the same stringent quality controls and regulations, Dole
Honduras, Nicaragua,
Chilean fruit permits the American consumer to enjoy summer fruit in the winter.
Panama, and Venezuela.
For 1997, Dole Latin America’s most important commitment is to continue improv-
ing fruit quality, customer service and maintain a low cost structure. Production of
bananas and other tropical fruits is expected to increase in order to participate in the
normal growth of the traditional markets as well as the many opportunities available
in the emerging new markets around the world.
Dole’s majority-owned beverage
HONDURAN BEVERAGE O P E R AT I O N
operation in Honduras continues to be a leading supplier of beverages, edible oils
and soap products. It is also the largest bottler and distributor of soft drink products
in Honduras, which has the highest per capita soft drink consumption in Central
America. The beverage operation is exclusively authorized to bottle Coca-Cola®,
Sprite® and Canada Dry® in Honduras.The Coca-Cola® brand, which has been bot-
tled for over 60 years, currently holds a soft drink market share approximately three
times as large as that of its nearest competitor. The beverage operation represents
approximately 75 percent of the Honduran soft drink market. Its distribution sys-
tem, which includes company-owned routes and independent distributors and
depots, allows it to distribute its products throughout the entire country.
Chilean grapes, nectarines,
peaches, plums, apples, and
more, are available from early
December through April.
P a g e 
d o l e f o o d c o m pa n y, i n c .

18. Dole
Asia
Dole Asia continued its rapid expansion, with sales reaching $974 million
in 1996. Dole Asia produces its own products in the
Philippines, Thailand and China, and imports products into the
region from its affiliated divisions in the United States and Latin America.
Dole’s pineapple opera- In Asia, Dole’s pineapple canneries in the Philippines and
P R E M I U M P RO D U C E R
tions are located in the
Thailand lead the world in productivity, quality, sanitation and dedication to excel-
Southern Philippines just
lence. Dole Philippines farms 25,000 acres on its plantations where pineapples are
above the equator.The
fields are situated on the
grown and harvested at optimum color and ripeness to provide the best quality, fla-
slopes of Mount Matutum
vor and handling characteristics for fresh and processed requirements. Dole’s total
(7,550 Ft.) where weather
quality commitment is shared by its more than 6,000 employees who proudly pro-
conditions provide a cool
year-round climate, ideal
duce, process, label and ship 100 percent of Dole’s high quality canned pineapple to
for pineapple production.
all of the world’s markets. Adhering to a tradition that started more than 110 years
ago, Dole is committed to maintaining the distinct quality of its canned pineapple.
Today’s employees are educated, dedicated, and devoted to keeping Dole pineapple
Number One in consumer satisfaction in the world.
While Japan remains Dole’s largest and most diversified Asian market, increasing
demand from Korea,Thailand, China, Singapore, the Philippines, and New Zealand
offers strong growth opportunities for the future. Despite a continued weak econo-
my in Japan in 1996, Dole products continue to benefit from the increasing demand
for imported foods into the Japanese market.
In order to facilitate this trend in Japan, Dole has
DISTRIBUTION CENTERS
created a nationwide infrastructure to efficiently process and distribute its increasing
volumes of imported goods. In 1996 Dole inaugurated its largest and most modern
facility in Tokyo which completes the first phase of Dole’s distribution network in
the major cities of Japan.These facilities allow for the efficient import, handling, pro-
cessing, packaging and delivery systems to meet Japanese consumer preferences and
Paul Cuyegkeng
retailer needs. Today, Dole centers are sprouting up all over Japan, offering banana
President – Dole Asia
Pa g e 
d o l e f o o d c o m pa n y, i n c .

19. GLOBAL
sourcing

20. L OW C O S T
producer

21. Dole’s pineapple cannery ripening rooms, pineapple peeling centers and fresh produce repacking facilities
in the Philippines is one of
with operational efficiencies that deliver the lowest cost. In addition, all products
the largest fruit canneries
offered in this market meet Japanese requirements for premium sized, high quality
in the world. Similar
canning operations in
produce as well as packaged products that meet the taste preference of the Japanese
Thailand produce processed
consumer. Many products initially developed for the Japanese market are easily
and fresh pineapple from
adaptable for the North American and European consumer. Dole recently contract-
company-owned plantations
for shipping worldwide.
ed nearly one thousand Japanese farmers to grow fruit and vegetables commencing
in the first few months of 1998.
To further capitalize on Japan’s growing taste for import-
D O L E F RU I T C A F É S
ed foods, Dole has opened its first directly owned restaurant, the Dole Fruit Café in
the Shibuya district of Tokyo.
The southern European resort style cafés feature an upbeat ambiance and will have
a varied menu specializing in fresh juices, vegetables and fruits. Targeted to serve
young Japanese consumers, the lunch and dinner menus will feature new and unique
tropical fruit-accented dishes at reasonable prices. Plans to expand the Dole Cafés
include franchises as well as other directly owned Dole stores.
The economy of the Philippines experienced a
G ROW T H O P P O RT U N I T I E S
continued resurgence in 1996 and Dole distribution facilities have grown to keep
pace with this market expansion. For years Dole has made significant investments in
pineapple, banana and vegetable production in the Philippines. This region is now
becoming a major market for its fresh vegetable and processed products, many devel-
oped especially for the Philippine consumer. Through its affiliate Quantum
Corporation, Dole efficiently distributes packaged foods and select amounts of fresh
products throughout the Philippines. Providing nationwide sales, marketing and
distribution service, Quantum boasts 100 percent penetration in the supermarket
and grocery channels.
As trade restraints in China,Taiwan and Korea decrease, these markets offer tremen-
dous growth potential as well as many challenges.To ensure success, Dole constantly
Dole Japan markets broccoli
strives to understand local food and taste preferences, work with local distribution
and asparagus produced by
operators and build a presence in markets that are both profitable and long lasting.
its affiliated divisions in
North America and the
Philippines.
Pa g e 
d o l e f o o d c o m pa n y, i n c .

22. Dole
Europe
Dole Europe reported record sales of $1 billion in 1996.This was achieved
through the expansion of sales in Europe, Ukraine,
Russia, Turkey, Syria and additional sales revenue from
successful joint ventures with Compagnie Fruitiere in France,
Jamaican Producer Fruit Distributors in the United Kingdom, and
Canary Islands Banana Producers.
Innovative technologies
developed in Dole’s canning
Dole is one of the leading producers, marketers,
F O RWA R D I N T E G R A T I O N
operations allow fresh fruit
to be packed into a small processors and distributors of high quality fruits and vegetables in Europe. Dole’s
plastic cup.This convenient
European strategy has been to broaden its fresh fruit business and expand as a sup-
snack, already a success
plier of processed fruit and vegetables. By growing its forward distribution network,
in Europe and Asia, is
being test-marketed in
Dole is reducing overall distribution costs and developing lasting relationships direct-
North America.
ly with Europe’s major retail organizations. Until the early 1990’s, Dole imported
products solely through Germany and Italy. Now, Dole delivers fresh fruit and veg-
etable products through 20 ports throughout Europe to meet the ever increasing
demands of this region. Dole’s vast network of distribution centers services these
countries with 12 facilities in France, seven in Spain, four in Italy, three in the
United Kingdom, and one in Germany, all offering supermarkets a complete array
of products. Dole has also established a distribution center near Istanbul, Turkey to
service this country’s 60 million consumers.
In 1996, Dole completed its acquisition of Pascual Hermanos, Spain, one of
S PA I N
the largest fruit and vegetable production companies in Europe. Pascual owns or
leases over 2,000 hectares of farms, production centers and packing houses. Pascual
grows, processes and packs over 90 percent of its vegetable exports which include
tomatoes and cherry tomatoes, lettuce, onions, and zucchini. It is also a major packer
and marketer of citrus, primarily purchased from independent growers.This acquisi-
William F. Feeney
President – Dole Europe tion provides Dole with a European source of vegetables and citrus products to fill
Andrew J. Biles
the demands generated by Dole’s marketing and distribution network throughout
Executive Vice President – Dole Europe
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23. P RO D U C T
innovation

24. Strategic acquisitions and Europe. Additionally, Pascual provides Dole with the production base to allow
joint venture partnerships
entrance into the European value-added, prepared fresh salad category.
have positioned Dole to
expand its successful
Agronomically, Spain is the California of Europe.The primary citrus and vegetable
North American value
production as well as large volume of deciduous products such as grapes, stonefruit
added salad business into
and exotics grown in Europe come from Spain. Entry into Spain, the fifth largest
Europe.
European market, broadens Dole’s product line and increases its shelf-space in
supermarkets. Additionally, it will ensure year-round availability of Dole products
complementing those imported from Chile, Latin America and Florida.
Dole also entered into a joint-venture with BAMA Group, Norway’s
N O RWA Y
largest importer, marketer and distributor of fresh fruit and vegetables, forming
Dole-BAMA Fresh Salads. Capitalizing on its valued-added success in North
America, Dole Europe applied tested technological and marketing expertise to its
Norway joint venture. Incorporating the year-round production capabilities provid-
ed by the summers in Norway and the winters in Spain, Dole agricultural experts
from California assisted Norwegian farmers with production of specialty salads.
Construction of a state-of-the-art facility was initiated in January 1996. Production
commenced in July 1996 and the Dole-BAMA Group quickly became an estab-
lished market leader in Norway. The success of Dole-BAMA serves as a model for
the roll-out of Dole’s value-added salads throughout Europe.
In its joint venture with Compagnie Fruitiere, Dole extended its West
AFRICA
African shipping service and sourcing. In March 1996, the Cameroon shipping and
sourcing program was extended to the Ivory Coast and Ghana. Dole golden pineap-
ples, which are preferred by European consumers, are now being produced by joint
ventures in the Ivory Coast and traveling on Dole vessels to the European market.
With its alliance with Langeberg Food Limited of South Africa, Dole extended its
product line of deciduous canned fruit to include new single serve plastic cups.
The joint venture has provided Dole with products which enhance its marketing
programs to European supermarkets, complementing existing canned pineapple and
From planting through
harvesting, Dole bananas exotic fruit product lines.
are carefully nurtured and
undergo numerous quality
checks on Dole plantations.
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25. D F P W :
OLE OOD RODUCTS ORLDWIDE
DOLE FRESH FRUIT Dromedary Pitted Dates Carton
Dole French Special Blend Salad
Dole Apples Dromedary Chopped Dates Carton
Dole Italian Special Blend Salad
Dole Apricots Dole Romaine Special Blend Salad
SAMAN
Dole Bananas Dole Complete Caesar Salad
Guyennoise Prunor Pitted Prunes
Dole Cherries Dole Complete Spinach/Bacon Salad
Guyennoise Prunor Whole Prunes
Dole Clementines Dole Complete Oriental Salad
JA Whole Dates
Dole Coconuts Dole Complete Sunflower Ranch Salad
JA Whole Prunes
Dole Cranberries Dole Complete Romano Salad
Whole Deglet Nour Dates
Dole Grapefruit Dole Complete Caesar Salad
Soelia Dried Apricots
Dole Grapes with Fat Free Dressing
Soelia Dried Figs
Dole Honeydew Melon Dole Complete Herb Ranch Salad
Soelia Blanched Whole Almonds
Dole Kiwi with Fat Free Dressing
Soelia Sliced Thin Almonds
Dole Lemons Dole Complete Raspberry Romaine Salad
Soelia Whole Peanuts
Dole Lychees with Fat Free Dressing
Soelia Pistachios
Dole Mangos Dole Complete Zesty Italian Salad
Soelia Pitted Prunes
Dole Nectarines with Fat Free Dressing
Soelia Whole Prunes
Dole Oranges Dole Caesar Lunch For One
Dole Papayas Dole Classic Ranch Lunch For One DOLE PACKAGED FOODS
Dole Peaches Dole Caesar with Fat Free Dressing Lunch For One Dole Apricots in Juice or Syrup
Dole Pears Dole Italian with Fat Free Dressing Lunch For One Dole Apricot Halves
Dole Persimmons Dole Family Salad Dole Apricot Snack Cup
Dole Pineapple Dole Provence Salad Dole Fruit Festival Snack Cup
Dole Pineapple Fresh-Cut Bags Dole Napoli Salad Dole Guava Halves
Dole Plums Dole Spring Mix Special Salad Dole Orange Fruit Jelly Cups
Dole Pomegranates Dole Taco-Chips Salad Dole Peach Halves
Dole Raspberries Dole Oriental Stir Fry Vegetables Dole Peach Snack Cup
Dole Satsumas Dole Wok Stir Fry Vegetables Dole Pear Snack Cup
Dole Strawberries Dole Pineapple Chunks in Juice or Syrup
DOLE DRIED FRUIT AND NUTS
Dole Tangelos Dole Pineapple Snack Cup
Dole Blanched Slivered Almonds in Reclosable Bags
Dole Tangerines Dole Pineapple Select Fruit Cups in Fruit Juice
Dole Blanched Whole Almonds in Reclosable Bags
Dole Pineapple Snack Wedges, Easy Open
DOLE FRESH VEGETABLES Dole Chopped Natural Almonds in Reclosable Bags
Dole Pineapple Tidbits in Juice or Syrup
Dole Artichokes Dole Sliced Natural Almonds in Reclosable Bags
Dole Crushed Pineapple in Juice or Syrup
Dole Asparagus Dole Whole Natural Almonds in Reclosable Bags
Dole Pineapple & Peach Cups
Dole Bell Peppers Dole Roasted Almonds in Single Serve Bags
Dole Pineapple & Papaya Fruit Jelly Cups
Dole Broccoli Dole Golden Seedless Raisins
Dole Pineapple Juice
Dole Brussels Sprouts Dole Seedless Raisins Canister
Dole Pineapple Orange Juice
Dole Carrots Dole Seedless Raisins Carton
Dole Pine-Orange Banana Juice
Dole Cauliflower Dole Seedless Raisins Mini Snacks
Dole Pine-Orange Guava Juice
Dole Celery Dole Seedless Raisins Six Packs
Dole Pine-Passion Banana Juice
Dole Baby Lettuce Dole Seedless Raisins in Single Serve Bags
Dole Pineapple Orange Juice Box
Dole Butter Lettuce Dole Seedless Raisins in Reclosable Bags
Dole Pineapple Orange Banana Juice Box
Dole Green Leaf Lettuce Dole Chopped Dates Canister
Dole Pineapple Orange Raspberry Juice Box
Dole Iceberg Lettuce Dole Chopped Dates Carton
Dole Pineapple Juice Drink
Dole Red Batavia Lettuce Dole Pitted Dates Canister
Dole Pineapple Grapefruit Juice
Dole Red Butter Lettuce Dole Pitted Dates Carton
Dole Pineapple Pink Grapefruit Drink
Dole Red Leaf Lettuce Dole Chopped Dates Cup
Dole Pineapple Lychee Juice Drink
Dole Romaine Lettuce Dole Pitted Dates Cup
Dole Pineapple Orange Juice Drink
Dole Green Onions Dole Whole Dates Cup
Dole Pineapple Strawberry Juice Drink
Dole Spring Onions Dole Pitted Dates Gelatin Mold Cup
Dole Pineapple Slices in Juice or Syrup
Dole Sugar Peas Dole Medjool Dates
Dole Mandarin Orange Segments
Dole Idaho Potatoes Dole Date Nut Roll
Dole Mandarin Orange Fruit Cups
Dole Radishes Dole Baking Dates
Dole Papaya in Syrup
Dole Cherry Tomatoes Dole California Style Trail Mix in Single Serve Bags
Dole Yellow Papaya Chunks
Dole Tomatoes Dole Hawaiian Style Trail Mix in Single Serve Bags
Dole Red Papaya Chunks in Light Syrup
Dole Zucchini Squash Dole Breakfast Prunes in Reclosable Bags
Dole Pears in Juice and Syrup
Dole Large Prunes in Reclosable Bags
DOLE FRESH-CUT VEGETABLES Dole Peaches in Juice and Syrup
Dole Pitted Prunes Canister
Dole Peeled-Mini Carrots Dole Deciduous Fruit Cocktail in Juice
Dole Pitted Prunes Carton
Dole Shredded Carrots and Syrup
Dole Pitted Prunes in Reclosable Bags
Dole Cole Slaw Dole Select Fruit Tropical Fruit Cups
Dole Pistachio Kernels in Single Serve Bags
Dole Shredded Lettuce in Fruit Juice
Dole Shredded Red Cabbage DROMEDARY Dole Tropical Fruit Salad
Dromedary Pitted Dates Bag
Dole Classic Iceberg Salad Dole Tropical Fruit Salad, Easy Open
Dromedary Chopped Dates Bag
Dole American Special Blend Salad
Dromedary Morsel Date Bag
Dole European Special Blend Salad
Pa g e 
d o l e f o o d c o m pa n y, i n c .

26. F H
INANCIAL IGHLIGHTS
R E V E N U E G RO W T H REGION, 1986 1996
BY TO
Europe Europe
$873 22%
North
America
North
30%
America Europe
$641 40%
Asia
$562 Asia
13%
North
Latin America Latin
America America
Latin 5%
4% 4%
America Asia
$90 26%
G ROW T H BY REGION P E R C E N T O F TOTA L C O M P O U N D E D A N N UA L
G ROW T H B Y R E G I O N G ROW T H R AT E B Y R E G I O N
(in millions)
3,840
1,563
3,804
325
3,499
306
3,120
3,108
272
265
258
1,155
995
891
847
92 93 94 95 96 92 93 94 95 96 92 93 94 95 96
REVENUE G RO S S O P E R AT I N G NET DEBT
C A S H F L OW
(in millions) (in millions)
(in millions)
s Depreciation & Amortization
(EBITDA)
s Operating Income (EBIT)
(a) Before restructuring charge
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27. C S I
ONSOLIDATED TATEMENTS OF NCOME
(in thousands, except per share data) 1996 1995 1994
Revenue $3,840,303 $3,803,846 $3,498,553
Cost of products sold 3,256,345 3,217,869 2,965,675
Gross margin 583,958 585,977 532,878
Selling, marketing and administrative expenses 369,675 392,694 394,763
Restructuring charge 50,000 – –
Operating income 164,283 193,283 138,115
Interest expense (68,699) (81,186) (76,911)
Interest income 8,412 7,501 9,884
Net gain on assets sold or held for disposal – 61,655 –
Other income (expense) – net 4,535 (5,429) (2,943)
Income from continuing operations before income taxes 108,531 175,824 68,145
Income taxes (19,500) (56,000) (9,900)
Income from continuing operations 89,031 119,824 58,245
Income (loss) from discontinued operations, net of income taxes – (96,493) 9,638
Net income $ 89,031 $ 23,331 $ 67,883
Earnings (loss) per common share, primary and fully diluted
Continuing operations $ 1.47 $ 2.00 $ .98
Discontinued operations – (1.61) .16
Net income $ 1.47 $ .39 $ 1.14
See Notes to Consolidated Financial Statements.
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28. C B S
ONSOLIDATED ALANCE HEETS
(in thousands) 1996 1995
Current assets
Cash and short-term investments $ 34,342 $ 72,151
Receivables – net 518,266 462,303
Inventories 526,052 559,660
Prepaid expenses 47,164 43,087
Total current assets 1,125,824 1,137,201
Investments 72,930 63,319
Property, plant and equipment – net 1,024,135 1,016,991
Long-term receivables – net 69,861 28,409
Other assets 194,057 196,272
$2,486,807 $2,442,192
Current liabilities
Notes payable $ 20,478 $ 21,778
Current portion of long-term debt 1,497 1,779
Accounts payable 185,747 182,152
Accrued liabilities 454,208 451,181
Total current liabilities 661,930 656,890
Long-term debt 903,807 895,998
Deferred income taxes and other long-term liabilities 341,798 354,545
Minority interests 29,712 26,324
Commitments and contingencies
Common shareholders’ equity 549,560 508,435
$2,486,807 $2,442,192
See Notes to Consolidated Financial Statements.
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