Panera Bread 2005 Annual Report Download - page 59

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The accounting policies applicable to each segment are consistent with those described in Note 2, “Summary of Significant
Accounting Policies.” Segment information related to the Company’s three business segments follows (in thousands):
For the Fiscal Years Ended
December 27,
2005
December 25,
2004
December 27,
2003
Revenues:
Company bakery-cafe operations....................................................................................... $ 499,422 $ 362,121 $ 265,933
Franchise operations .......................................................................................................... 54,309 44,449 36,245
Fresh dough operations ...................................................................................................... 128,422 103,786 93,874
Intercompany sales eliminations ........................................................................................ (41,878) (31,217) (32,350)
Total Revenues................................................................................................................ $ 640,275 $ 479,139 $ 363,702
Segment profit:
Company bakery-cafe operations....................................................................................... $ 97,831 $ 71,725 $ 55,111
Franchise operations .......................................................................................................... 47,652 39,149 32,132
Fresh dough operations ...................................................................................................... 11,508 6,942 6,557
Total segment profit ........................................................................................................ $ 156,991 $ 117,816 $ 93,800
Total segment profit........................................................................................................... $ 156,991 $ 117,816 $ 93,800
Depreciation and amortization ........................................................................................... 33,011 25,298 18,304
Unallocated general and administrative expenses.............................................................. 39,644 28,038 24,027
Pre-opening expenses......................................................................................................... 3,241 2,642 1,531
Interest expense.................................................................................................................. 50 18 48
Other (income) expense, net .............................................................................................. (1,133) 1,065 1,592
Income before income taxes and cumulative effect of accounting change ..................... $ 82,178 $ 60,755 $ 48,298
Depreciation and amortization:
Company bakery-cafe operations....................................................................................... $ 23,345 $ 17,786 $ 12,256
Fresh dough operations ...................................................................................................... 6,016 4,356 3,298
Corporate administration.................................................................................................... 3,650 3,156 2,750
Total depreciation and amortization................................................................................ $ 33,011 $ 25,298 $ 18,304
Capital expenditures:
Company bakery-cafe operations....................................................................................... $ 67,554 $ 67,374 $ 33,670
Fresh dough operations ...................................................................................................... 9,082 9,445 8,370
Corporate administration.................................................................................................... 5,420 3,610 3,721
Total capital expenditures ............................................................................................... $ 82,056 $ 80,429 $ 45,761
December 27,
2005
December 25,
2004
Segment assets:
Company bakery-cafe operations............................................................................................................... $ 301,517 $ 204,295
Franchise operations .................................................................................................................................. 2,969 1,778
Fresh dough operations .............................................................................................................................. 37,567 39,968
Total segment assets................................................................................................................................ $ 342,053 $ 246,041
Total segment assets................................................................................................................................... $ 342,053 $ 246,041
Unallocated trade and other accounts receivable ....................................................................................... 3,485 1,768
Unallocated property and equipment ......................................................................................................... 13,181 12,291
Unallocated deposits and other .................................................................................................................. 2,263 2,613
Other unallocated assets............................................................................................................................. 76,685 61,959
Total assets .............................................................................................................................................. $ 437,667 $ 324,672
“Unallocated trade and other accounts receivable” relates primarily to rebates and interest receivable, “unallocated property and
equipment” relates primarily to corporate fixed assets, “unallocated deposits and other” relates primarily to company-owned life
insurance program, and “other unallocated assets” relates primarily to cash and cash equivalents and investments.