Panera Bread 2004 Annual Report Download - page 35

PANERA BREAD COMPANY
CONSOLIDATED BALANCE SHEETS
(in thousands, except share and per share information)
December 25,
2004
(as restated)
December 27,
2003
ASSETS
Current assets:
Cash and cash equivalents .......................................................................................................................... $ 29,639 $ 42,402
Investments in government securities......................................................................................................... 2,022 5,019
Trade accounts receivable........................................................................................................................... 11,714 9,646
Other accounts receivable........................................................................................................................... 5,542 2,748
Inventories .................................................................................................................................................. 5,398 4,350
Prepaid expenses......................................................................................................................................... 1,658 1,294
Deferred income taxes ................................................................................................................................ 2,247 1,696
Total current assets................................................................................................................................. 58,220 67,155
Property and equipment, net......................................................................................................................... 201,725 146,362
Other assets:
Investments in government securities......................................................................................................... 26,393 4,000
Goodwill ..................................................................................................................................................... 35,327 32,743
Deposits and other ...................................................................................................................................... 3,007 5,678
Deferred income taxes ................................................................................................................................ — 897
Total other assets.................................................................................................................................... 64,727 43,318
Total assets............................................................................................................................................. $ 324,672 $ 256,835
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable........................................................................................................................................ $ 5,840 $ 8,072
Accrued expenses ....................................................................................................................................... 48,905 36,403
Current portion of deferred revenue ........................................................................................................... 960 1,168
Total current liabilities ........................................................................................................................... 55,705 45,643
Deferred income taxes.................................................................................................................................. 5,647 —
Deferred rent................................................................................................................................................. 20,181 12,501
Other long-term liabilities ............................................................................................................................ 1,776 1,115
Total liabilities ....................................................................................................................................... 83,309 59,259
Commitments and contingencies (Note 10)
Minority interest ........................................................................................................................................... — 3,771
Stockholders’ equity:
Common stock, $.0001 par value:
Class A, 75,000,000 shares authorized; 29,130,097 issued and 29,021,097 outstanding in 2004; and
28,296,581 issued and 28,187,581 outstanding in 2003 ........................................................................ 3 3
Class B, 10,000,000 shares authorized; 1,451,647 issued and outstanding in 2004 and 1,847,221 in
2003 ....................................................................................................................................................... — —
Treasury stock, carried at cost .................................................................................................................... (900) (900)
Additional paid-in capital ........................................................................................................................... 130,970 121,992
Retained earnings ....................................................................................................................................... 111,290 72,710
Total stockholders’ equity...................................................................................................................... 241,363 193,805
Total liabilities and stockholders’ equity ............................................................................................... $ 324,672 $ 256,835
The accompanying notes are an integral part of the consolidated financial statements.
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