Panera Bread 2007 Annual Report Download - page 88

Download and view the complete annual report

Please find page 88 of the 2007 Panera Bread annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 100

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100

December 25,
2007
December 26,
2006
Segment assets:
Company bakery-cafe operations............................ $514,528 $374,795
Franchise operations ..................................... 6,179 3,740
Fresh dough operations ................................... 55,350 59,919
Total segment assets ................................... $576,057 $438,454
Total segment assets ..................................... $576,057 $438,454
Unallocated trade and other accounts receivable ................ 2,468 1,902
Unallocated property and equipment ......................... 15,016 16,491
Unallocated deposits and other ............................. 4,592 3,160
Other unallocated assets .................................. 100,619 82,602
Total assets .......................................... $698,752 $542,609
“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.
20. Earnings Per Share
The following table sets forth the computation of basic and diluted earnings per share (in thousands, except for
per share data):
December 25,
2007
December 26,
2006
December 27,
2005
For the Fiscal Year Ended
Amounts used for basic and diluted per share
calculations:
Net income .................................. $57,456 $58,849 $52,183
Weighted average number of shares outstanding —
basic ..................................... 31,708 31,313 30,871
Effect of dilutive securities:
Employee stock options ..................... 406 690 772
LTIP ................................... 64 41 8
Weighted average number of shares outstanding —
diluted .................................... 32,178 32,044 31,651
Basic earnings per common share:
Net income ................................ $ 1.81 $ 1.88 $ 1.69
Diluted earnings per common share:
Net income ................................ $ 1.79 $ 1.84 $ 1.65
For the fiscal years ended December 25, 2007, December 26, 2006, and December 27, 2005, weighted-
outstanding options for 0.3 million, 0.3 million, and 0.03 million shares, respectively, were excluded in calculating
diluted earnings per share as the exercise price exceeded fair market value and inclusion would have been anti-
dilutive.
78
PANERA BREAD COMPANY
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS — (Continued)