Panera Bread 2010 Annual Report Download - page 33

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Consolidated Statements of Operations Margin Analysis
The following table sets forth the percentage relationship to total revenues, except where otherwise indicated,
of certain items included in our Consolidated Statements of Operations for the periods indicated. Percentages may
not add due to rounding:
December 28,
2010
December 29,
2009
December 30,
2008
For the Fiscal Year Ended
Revenues:
Bakery-cafe sales, net ........................ 85.7% 85.2% 85.2%
Franchise royalties and fees .................... 5.6 5.8 5.8
Fresh dough and other product sales to franchisees . . . 8.8 9.0 9.1
Total revenue ........................... 100.0% 100.0% 100.0%
Costs and expenses:
Bakery-cafe expenses(1):
Cost of food and paper products ............... 28.4% 29.3% 30.1%
Labor................................... 31.7 32.1 31.9
Occupancy ............................... 7.6 8.3 8.2
Other operating expenses .................... 13.4 13.5 13.3
Total bakery-cafe expenses ................. 81.1 83.2 83.4
Fresh dough and other product cost of sales to
franchisees(2)............................. 82.1 82.2 92.2
Depreciation and amortization .................. 4.5 5.0 5.2
General and administrative expenses.............. 6.6 6.1 6.5
Pre-opening expenses ......................... 0.3 0.2 0.3
Total costs and expenses..................... 88.0 89.6 91.3
Operating profit............................... 12.0 10.4 8.7
Interest expense............................... — 0.1 0.1
Other expense, net ............................. 0.3 — 0.1
Income before income taxes...................... 11.7 10.3 8.5
Income taxes ................................. 4.4 3.9 3.2
Net income ............................ 7.2 6.4 5.3
Less: net (loss) income attributable to noncontrolling
interest ................................... — 0.1 0.1
Net income attributable to Panera Bread
Company ............................ 7.3% 6.4% 5.2%
(1) As a percentage of net bakery-cafe sales.
(2) As a percentage of fresh dough and other product sales to franchisees.
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