Panera Bread 2011 Annual Report Download - page 50

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42
PANERA BREAD COMPANY
CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share information)
Revenues:
Bakery-cafe sales, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Franchise royalties and fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Fresh dough and other product sales to franchisees . . . . . . . . . . . . . . . . . . .
Total revenues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Costs and expenses:
Bakery-cafe expenses:
Cost of food and paper products . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Labor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Occupancy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Other operating expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Total bakery-cafe expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Fresh dough and other product cost of sales to franchisees . . . . . . . . . . . . .
Depreciation and amortization . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
General and administrative expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Pre-opening expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Total costs and expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Operating profit. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Interest expense. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Other (income) expense, net
Income before income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Net income. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Less: net (loss) income attributable to noncontrolling interest . . . . . . . . . . . .
Net income attributable to Panera Bread Company . . . . . . . . . . . . . .
Earnings per common share attributable to Panera Bread Company:
Basic. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Diluted . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Weighted average shares of common and common equivalent shares
outstanding:
Basic . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Diluted . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
For the fiscal year ended
December 27,
2011
$ 1,592,951
92,793
136,288
1,822,032
$ 470,398
484,014
115,290
216,237
1,285,939
116,267
79,899
113,083
6,585
1,601,773
220,259
822
(466)
219,903
83,951
135,952
—
$ 135,952
$ 4.59
$ 4.55
29,601
29,903
December 28,
2010
$ 1,321,162
86,195
135,132
1,542,489
$ 374,816
419,140
100,970
177,059
1,071,985
110,986
68,673
101,494
4,282
1,357,420
185,069
675
4,232
180,162
68,563
111,599
(267)
$ 111,866
$ 3.65
$ 3.62
30,614
30,922
December 29,
2009
$ 1,153,255
78,367
121,872
1,353,494
$ 337,599
370,595
95,996
155,396
959,586
100,229
67,162
83,169
2,451
1,212,597
140,897
700
273
139,924
53,073
86,851
801
$ 86,050
$ 2.81
$ 2.78
30,667
30,979
The accompanying notes are an integral part of the consolidated financial statements.