Panera Bread 2007 Annual Report Download - page 55

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PANERA BREAD COMPANY
CONSOLIDATED BALANCE SHEETS
(in thousands, except share and per share information)
December 25,
2007
December 26,
2006
ASSETS
Current assets:
Cash and cash equivalents ........................................ $ 68,242 $ 52,097
Short-term investments .......................................... 23,198 20,025
Trade accounts receivable, net ..................................... 25,152 19,041
Other accounts receivable ........................................ 11,640 11,878
Inventories ................................................... 11,394 8,714
Prepaid expenses............................................... 5,299 12,036
Deferred income taxes........................................... 7,199 3,827
Total current assets ......................................... 152,124 127,618
Property and equipment, net ........................................ 429,992 345,977
Other assets:
Goodwill . ................................................... 87,092 57,192
Other intangible assets, net ....................................... 21,827 6,604
Deposits and other ............................................. 7,717 5,218
Total other assets ........................................... 116,636 69,014
Total assets ............................................... $698,752 $542,609
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable .............................................. $ 6,326 $ 5,800
Accrued expenses .............................................. 120,047 102,718
Deferred revenue............................................... 1,393 1,092
Total current liabilities ....................................... 127,766 109,610
Long-term debt.................................................. 75,000 —
Deferred rent ................................................... 33,569 27,684
Other long-term liabilities .......................................... 14,238 7,649
Total liabilities............................................. 250,573 144,943
Commitments and contingencies (Note 12)
Minority interest ................................................. 2,015 —
Stockholders’ equity:
Common stock, $.0001 par value:
Class A, 75,000,000 shares authorized; 30,213,869 issued and 30,098,275
outstanding in 2007; and 30,453,157 issued and 30,344,157 outstanding in
2006 . ................................................... 3 3
Class B, 10,000,000 shares authorized; 1,398,588 issued and outstanding in
2007 and 1,400,031 in 2006 ................................... — —
Treasury stock, carried at cost ..................................... (1,188) (900)
Additional paid-in capital ........................................ 168,386 176,241
Retained earnings .............................................. 278,963 222,322
Total stockholders’ equity .................................... 446,164 397,666
Total liabilities and stockholders’ equity .......................... $698,752 $542,609
The accompanying notes are an integral part of the consolidated financial statements.
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