Jack In The Box 2009 Annual Report Download - page 74

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Table of Contents



 
    
Revenues $ 776,997 $ 588,034 $ 591,863 $ 582,667
Earnings from operations 67,123 48,229 54,232 46,304
Net earnings 36,255 26,234 29,916 26,874
Net earning per share:
Basic $ 0.61 $ 0.45 $ 0.52 $ 0.48
Diluted $ 0.59 $ 0.44 $ 0.51 $ 0.47
The results of operations for the quarter ending July 5, 2009 includes a charge of $14.1 million, net of taxes, or $0.25 and $0.24
per basic and diluted share, respectively, related to the sale of our Quick Stuff convenience stores. Refer to Note 2, Discontinued
Operations, for additional information.
 
In September 2006, the FASB issued authoritative guidance on fair value measurements. This guidance clarifies the definition of
fair value, describes methods used to appropriately measure fair value, and expands fair value disclosure requirements. This guidance
applies under other accounting pronouncements that currently require or permit fair value measurements and is effective for fiscal years
beginning after November 15, 2007, and interim periods within those years. We adopted the provisions of the fair value measurement
guidance for our financial assets and liabilities and have elected to defer adoption for our nonfinancial assets and liabilities until fiscal
year 2010. We are currently in the process of assessing the impact this guidance may have on our consolidated financial statements
related.
In June 2009, the FASB issued authoritative guidance for consolidation, which changes the approach for determining which
enterprise has a controlling financial interest in variable interest entity and requires more frequent reassessments of whether an enterprise
is a primary beneficiary. This guidance is effective for annual periods beginning after November 15, 2009. We are currently in the
process of assessing the impact this guidance may have on our consolidated financial statements.
Other accounting standards that have been issued or proposed by the FASB or other standards-setting bodies that do not require
adoption until a future date are not expected to have a material impact on our consolidated financial statements upon adoption.
F-35