Panera Bread 2005 Annual Report Download - page 40

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PANERA BREAD COMPANY
CONSOLIDATED BALANCE SHEETS
(in thousands, except share and per share information)
December 27,
2005
December 25,
2004
ASSETS :
Current assets:
Cash and cash equivalents ......................................................................................................................... $ 24,451 $ 29,639
Investments in government securities ........................................................................................................ 36,200 2,022
Trade accounts receivable.......................................................................................................................... 18,229 11,714
Other accounts receivable .......................................................................................................................... 6,929 5,542
Inventories.................................................................................................................................................. 7,358 5,398
Prepaid expenses........................................................................................................................................ 5,736 1,658
Deferred income taxes ............................................................................................................................... 3,871 2,247
Total current assets................................................................................................................................ 102,774 58,220
Property and equipment, net ........................................................................................................................ 268,809 201,725
Other assets:
Investments in government securities ........................................................................................................ 10,108 26,393
Goodwill .................................................................................................................................................... 48,540 35,327
Other intangible assets ............................................................................................................................... 3,219 159
Deposits and other...................................................................................................................................... 4,217 2,848
Total other assets................................................................................................................................... 66,084 64,727
Total assets ............................................................................................................................................ $ 437,667 $ 324,672
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable ....................................................................................................................................... $ 4,422 $ 5,840
Accrued expenses....................................................................................................................................... 81,559 48,905
Deferred revenue........................................................................................................................................ 884 960
Total current liabilities .......................................................................................................................... 86,865 55,705
Deferred income taxes ................................................................................................................................. 5,022 5,647
Deferred rent................................................................................................................................................ 23,935 20,181
Other long-term liabilities............................................................................................................................ 4,867 1,776
Total liabilities....................................................................................................................................... 120,689 83,309
Commitments and contingencies (Note 9)
Stockholders’ equity:
Common stock, $.0001 par value:
Class A, 75,000,000 shares authorized; 29,957,297 issued and 29,848,297 outstanding in 2005; and
29,130,097 issued and 29,021,097 outstanding in 2004....................................................................... 3 3
Class B, 10,000,000 shares authorized; 1,400,621 issued and outstanding in 2005 and 1,451,647 in
2004 ...................................................................................................................................................... — —
Treasury stock, carried at cost.................................................................................................................... (900) (900)
Additional paid-in capital........................................................................................................................... 158,984 130,970
Retained earnings....................................................................................................................................... 163,473 111,290
Unearned deferred compensation............................................................................................................... (4,582) —
Total stockholders’ equity..................................................................................................................... 316,978 241,363
Total liabilities and stockholders’ equity .............................................................................................. $ 437,667 $ 324,672
The accompanying notes are an integral part of the consolidated financial statements.