Panera Bread 2010 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 28,
2010
December 29,
2009
December 30,
2008
For the Fiscal Year Ended
Revenues:
Company bakery-cafe operations ................ $1,321,162 $1,153,255 $1,106,295
Franchise operations ......................... 86,195 78,367 74,800
Fresh dough and other product operations .......... 252,045 216,116 213,620
Intercompany sales eliminations ................. (116,913) (94,244) (95,862)
Total revenues ............................ $1,542,489 $1,353,494 $1,298,853
Segment profit:
Company bakery-cafe operations ................ $ 249,177 $ 193,669 $ 183,713
Franchise operations ......................... 80,397 72,381 65,005
Fresh dough and other product operations .......... 24,146 21,643 9,185
Total segment profit ........................ $ 353,720 $ 287,693 $ 257,903
Depreciation and amortization .................. 68,673 67,162 67,225
Unallocated general and administrative expenses. .... 95,696 77,183 74,598
Pre-opening expenses ......................... 4,282 2,451 3,374
Interest expense ............................. 675 700 1,606
Other expense, net ........................... 4,232 273 883
Income before income taxes .................. $ 180,162 $ 139,924 $ 110,217
Depreciation and amortization:
Company bakery-cafe operations ................ $ 57,031 $ 55,726 $ 54,814
Fresh dough and other product operations .......... 7,495 7,620 8,072
Corporate administration ...................... 4,147 3,816 4,339
Total depreciation and amortization ............ $ 68,673 $ 67,162 $ 67,225
Capital expenditures:
Company bakery-cafe operations ................ $ 66,961 $ 46,408 $ 56,477
Fresh dough and other product operations .......... 6,452 3,681 3,872
Corporate administration ...................... 8,813 4,595 2,814
Total capital expenditures .................... $ 82,226 $ 54,684 $ 63,163
80
PANERA BREAD COMPANY
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS — (Continued)