Jack In The Box 2012 Annual Report Download - page 73
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in thousands, except per share data
Revenues
$457,921
$366,484
$362,981
$357,640
Earnings from operations
24,255
37,335
22,086
28,813
Net earnings
11,950
21,632
11,592
12,477
Net earnings per share:
Basic
$0.27
$0.49
$0.26
$0.28
Diluted
$0.27
$0.48
$0.26
$0.27
Revenues
$518,031
$383,773
$393,575
$366,960
Earnings from operations
55,290
14,595
33,172
42,004
Net earnings
32,401
6,802
18,745
22,652
Net earnings per share:
Basic
$0.62
$0.14
$0.39
$0.50
Diluted
$0.61
$0.13
$0.38
$0.49
The amounts reported in prior quarters have been adjusted in the table above to conform to the fiscal 2012 fourth quarter discontinued operations presentation.
Refer to Note 2, Discontinued Operations, for additional information.
Credit facility refinance — On November 5, 2012, we refinanced our Existing Facility and entered into an amended and restated credit agreement (the “New
Credit Facility”). The New Credit Facility consists of a $400.0 million revolving credit facility and a $200.0 million term loan facility. The interest rate on the
New Credit Facility is based on the Company’s leverage ratio and can range from LIBOR plus 1.75% to 2.25% with no floor. The initial interest rate is
LIBOR plus 2.00%. The revolving credit facility and the term loan facility both have maturity dates of November 5, 2017.
The proceeds from the New Credit Facility were used to repay all borrowings under the Existing Facility and to pay related transaction fees and expenses
associated with the refinance of the Existing Facility, and will also be available for permitted share repurchases, permitted dividends, permitted acquisitions,
ongoing working capital requirements and other general corporate purposes. The New Credit Facility is guaranteed by the Company and its subsidiaries, and
is secured by substantially all of the assets of the Company and its subsidiaries. The agreement includes negative covenants that are usual for facilities and
transactions of this type. It additionally includes certain financial covenants with respect to a minimum fixed-charge coverage ratio, a maximum leverage ratio,
and maximum capital expenditures.
F-33