Panera Bread 2007 Annual Report Download - page 87

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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):
December 25,
2007
December 26,
2006
December 27,
2005
For the Fiscal Year Ended
Revenues:
Company bakery-cafe operations ................ $ 894,902 $666,141 $499,422
Franchise operations ......................... 67,188 61,531 54,309
Fresh dough operations ....................... 176,710 159,050 128,422
Intercompany sales eliminations ................. (72,109) (57,751) (41,878)
Total Revenues............................ $1,066,691 $828,971 $640,275
Segment profit:
Company bakery-cafe operations ................ $ 139,226 $123,225 $ 99,662
Franchise operations ......................... 59,011 54,160 47,652
Fresh dough operations ....................... 18,022 15,681 11,508
Total segment profit ........................ $ 216,259 $193,066 $158,822
Total segment profit .......................... $ 216,259 $193,066 $158,822
Depreciation and amortization .................. 57,903 44,166 33,011
Unallocated general and administrative expenses. .... 60,789 51,935 39,644
Pre-opening expenses ......................... 8,289 6,173 5,072
Interest expense ............................. 483 92 50
Other (income) expense, net .................... 333 (1,976) (1,133)
Loss allocable to minority interest ............... (428) — —
Income before income taxes .................. $ 88,890 $ 92,676 $ 82,178
Depreciation and amortization:
Company bakery-cafe operations ................ $ 45,021 $ 32,741 $ 23,345
Fresh dough operations ....................... 8,367 7,097 6,016
Corporate administration ...................... 4,515 4,328 3,650
Total depreciation and amortization ............ $ 57,903 $ 44,166 $ 33,011
Capital expenditures:
Company bakery-cafe operations ................ $ 111,500 $ 86,743 $ 67,554
Fresh dough operations ....................... 9,556 15,120 9,082
Corporate administration ...................... 3,077 7,433 5,420
Total capital expenditures .................... $ 124,133 $109,296 $ 82,056
77
PANERA BREAD COMPANY
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS — (Continued)