Panera Bread 2008 Annual Report Download - page 89

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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 30,
2008
December 25,
2007
December 26,
2006
For the Fiscal Year Ended
Revenues:
Company bakery-cafe operations ................ $1,106,295 $ 894,902 $666,141
Franchise operations ......................... 74,800 67,188 61,531
Fresh dough operations ....................... 213,620 176,710 159,050
Intercompany sales eliminations ................. (95,862) (72,109) (57,751)
Total Revenues............................ $1,298,853 $1,066,691 $828,971
Segment profit:
Company bakery-cafe operations ................ $ 183,713 $ 145,499 $123,558
Franchise operations ......................... 65,005 59,011 54,160
Fresh dough operations ....................... 9,185 11,749 15,348
Total segment profit ........................ $ 257,903 $ 216,259 $193,066
Depreciation and amortization .................. 67,225 57,903 44,166
Unallocated general and administrative expenses. .... 74,598 60,789 51,935
Pre-opening expenses ......................... 3,374 8,289 6,173
Interest expense ............................. 1,606 483 92
Other (income) expense, net .................... 883 333 (1,976)
Income (loss) allocable to minority interest......... 1,509 (428) —
Income before income taxes .................. $ 108,708 $ 88,890 $ 92,676
Depreciation and amortization:
Company bakery-cafe operations ................ $ 54,814 $ 45,021 $ 32,741
Fresh dough operations ....................... 8,072 8,367 7,097
Corporate administration ...................... 4,339 4,515 4,328
Total depreciation and amortization ............ $ 67,225 $ 57,903 $ 44,166
Capital expenditures:
Company bakery-cafe operations ................ $ 56,477 $ 111,500 $ 86,743
Fresh dough operations ....................... 3,872 9,556 15,120
Corporate administration ...................... 2,814 3,077 7,433
Total capital expenditures .................... $ 63,163 $ 124,133 $109,296
82
PANERA BREAD COMPANY
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS — (Continued)