Panera Bread 2006 Annual Report Download - page 41

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PANERA BREAD COMPANY
CONSOLIDATED BALANCE SHEETS
(in thousands, except share and per share information)
December 26,
2006
December 27,
2005
ASSETS
Current assets:
Cash and cash equivalents ........................................ $ 52,097 $ 24,451
Investments in government securities ................................ 20,025 36,200
Trade accounts receivable, net ..................................... 19,041 18,229
Other accounts receivable ........................................ 11,878 6,929
Inventories ................................................... 8,714 7,358
Prepaid expenses............................................... 12,036 5,736
Deferred income taxes........................................... 3,827 3,871
Total current assets ......................................... 127,618 102,774
Property and equipment, net ........................................ 345,977 268,809
Other assets:
Investments in government securities ................................ — 10,108
Goodwill . ................................................... 57,192 48,540
Other intangible assets, net ....................................... 6,604 3,219
Deposits and other ............................................. 5,218 4,217
Total other assets ........................................... 69,014 66,084
Total assets ............................................... $542,609 $437,667
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable .............................................. $ 5,800 $ 4,422
Accrued expenses .............................................. 102,718 81,559
Deferred revenue............................................... 1,092 884
Total current liabilities ....................................... 109,610 86,865
Deferred income taxes ............................................ — 5,022
Deferred rent ................................................... 27,684 23,935
Other long-term liabilities .......................................... 7,649 4,867
Total liabilities............................................. 144,943 120,689
Commitments and contingencies (Note 10)
Stockholders’ equity:
Common stock, $.0001 par value:
Class A, 75,000,000 shares authorized; 30,453,157 issued and 30,344,157
outstanding in 2006; and 29,957,297 issued and 29,848,297 outstanding in
2005 . ................................................... 3 3
Class B, 10,000,000 shares authorized; 1,400,031 issued and outstanding in
2006 and 1,400,621 in 2005 ................................... — —
Treasury stock, carried at cost (900) (900)
Additional paid-in capital ........................................ 176,241 154,402
Retained earnings .............................................. 222,322 163,473
Total stockholders’ equity .................................... 397,666 316,978
Total liabilities and stockholders’ equity .......................... $542,609 $437,667
The accompanying notes are an integral part of the consolidated financial statements.
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