Panera Bread 2007 Annual Report Download - page 58

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PANERA BREAD COMPANY
CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY
(in thousands)
Shares Amount Shares Amount Shares Amount
December 25, 2007 December 26, 2006 December 27, 2005
For the Fiscal Year Ended
Class A common stock, $.0001 par value:
Balance, beginning of year . . . . . . . . . . . . . . . . . . 30,344 $ 3 29,848 $ 3 29,021 $ 3
Exercise of employee stock options . . . . . . . . . . . . 310 — 305 — 657 —
Issuance of common stock . . . . . . . . . . . . . . . . . . 42 — 29 — 27 —
Conversion of Class B to Class A . . . . . . . . . . . . . 2 — 1 — 51 —
Issuance of restricted stock (net of forfeitures) . . . . . 160 — 161 — 92 —
Acquisition of treasury stock . . . . . . . . . . . . . . . . . (7) — — — — —
Repurchase and retirement of common stock . . . . . . (753) — — — — —
Balance, end of year . . . . . . . . . . . . . . . . . . . . . . . 30,098 $ 3 30,344 $ 3 29,848 $ 3
Class B common stock, $.0001 par value:
Balance, beginning of year . . . . . . . . . . . . . . . . . . 1,400 $ — 1,401 $ — 1,452 $ —
Conversion of Class B to Class A . . . . . . . . . . . . . (2) — (1) — (51) —
Balance, end of year . . . . . . . . . . . . . . . . . . . . . . . 1,398 $ — 1,400 $ — 1,401 $ —
Treasury stock, at cost:
Balance, beginning of year . . . . . . . . . . . . . . . . . . 109 $ (900) 109 $ (900) 109 $ (900)
Acquisition of treasury stock . . . . . . . . . . . . . . . . . 7 (288) — — — —
Balance, end of year . . . . . . . . . . . . . . . . . . . . . . . 116 $ (1,188) 109 $ (900) 109 $ (900)
Additional paid-in capital:
Balance, beginning of year . . . . . . . . . . . . . . . . . . $176,241 $154,402 $130,970
Exercise of employee stock options . . . . . . . . . . . . 6,576 7,716 12,632
Issuance of common stock . . . . . . . . . . . . . . . . . . 1,782 1,606 1,192
Stock compensation . . . . . . . . . . . . . . . . . . . . . . . 7,255 8,171 301
Income tax benefit related to stock option plan . . . . 3,731 4,346 9,307
Repurchase and retirement of common stock . . . . . . (27,199) — —
Balance, end of year . . . . . . . . . . . . . . . . . . . . . . . $168,386 $176,241 $154,402
Retained earnings:
Balance, beginning of year . . . . . . . . . . . . . . . . . . $222,322 $163,473 $111,290
Cumulative effect of adjustment resulting from
adoption of FIN No. 48, net of tax (Note 2) . . . . . (815) — —
Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 57,456 58,849 52,183
Balance, end of year . . . . . . . . . . . . . . . . . . . . . . . $278,963 $222,322 $163,473
Total stockholders’ equity . . . . . . . . . . . . . . . . . . . . . $446,164 $397,666 $316,978
The accompanying notes are an integral part of the consolidated financial statements.
48