Panera Bread 2011 Annual Report Download - page 78

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70
The Franchise Operations segment is comprised of the operating activities of the franchise business unit, which licenses qualified
operators to conduct business under the Panera Bread or Paradise Bakery & Café names and also monitors the operations of these
bakery-cafes. Under the terms of most of the agreements, the licensed operators pay royalties and fees to the Company in return
for the use of the Panera Bread or Paradise Bakery & Café names.
The Fresh Dough and Other Product Operations segment supplies fresh dough, produce, tuna, cream cheese, and indirectly supplies
proprietary sweet goods items through a contract manufacturing arrangement, to Company-owned and franchise-operated bakery-
cafes. The fresh dough is sold to a number of both Company-owned and franchise-operated bakery-cafes at a delivered cost
generally not to exceed 27 percent of the retail value of the end product. The sales and related costs to the franchise-operated
bakery-cafes are separately stated line items in the Consolidated Statements of Operations. The operating profit related to the sales
to Company-owned bakery-cafes is classified as a reduction of the costs in the cost of food and paper products in the Consolidated
Statements of Operations.
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 is as follows (in thousands):
Revenues:
Company bakery-cafe operations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Franchise operations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Fresh dough and other product operations . . . . . . . . . . . . . . . . . . . . . . . . .
Intercompany sales eliminations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Total revenues. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Segment profit:
Company bakery-cafe operations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Franchise operations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Fresh dough and other product operations . . . . . . . . . . . . . . . . . . . . . . . . .
Total segment profit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Depreciation and amortization . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Unallocated general and administrative expenses. . . . . . . . . . . . . . . . . . . .
Pre-opening expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Interest expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Other (income) expense, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Income before income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Depreciation and amortization:
Company bakery-cafe operations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Fresh dough and other product operations . . . . . . . . . . . . . . . . . . . . . . . . .
Corporate administration . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Total depreciation and amortization . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Capital expenditures:
Company bakery-cafe operations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Fresh dough and other product operations . . . . . . . . . . . . . . . . . . . . . . . . .
Corporate administration . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Total capital expenditures. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
For the fiscal year ended
December 27,
2011
$ 1,592,951
92,793
275,096
(138,808)
$ 1,822,032
$ 307,012
86,148
20,021
$ 413,181
79,899
106,438
6,585
822
(466)
$ 219,903
$ 68,651
6,777
4,471
$ 79,899
$ 94,873
6,483
6,576
$ 107,932
December 28,
2010
$ 1,321,162
86,195
252,045
(116,913)
$ 1,542,489
$ 249,177
80,397
24,146
$ 353,720
68,673
95,696
4,282
675
4,232
$ 180,162
$ 57,031
7,495
4,147
$ 68,673
$ 66,961
6,452
8,813
$ 82,226
December 29,
2009
$ 1,153,255
78,367
216,116
(94,244)
$ 1,353,494
$ 193,669
72,381
21,643
$ 287,693
67,162
77,183
2,451
700
273
$ 139,924
$ 55,726
7,620
3,816
$ 67,162
$ 46,408
3,681
4,595
$ 54,684