Panera Bread 2012 Annual Report Download - page 27

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During the fourth quarter of fiscal 2012, we repurchased Class A common stock as follows:
Period
Total Number
of Shares
Purchased
Weight-
Average Price
Paid per Share
Total Number
of Shares
Purchased as
Part of
Publicly
Announced
Program
Approximate
Dollar Value of
Shares that
May Yet Be
Purchased
Under the
Announced
Program
September 26, 2012 - October 23, 2012 . . . . . . . . — $ — — $ 600,000,000
October 24, 2012 - November 27, 2012 . . . . . . . . 125,643 (1)(2) $ 161.06 124,100 $ 580,019,537
November 28, 2012 - December 25, 2012. . . . . . . — $ — — $ 580,019,537
Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 125,643 $ 161.06 124,100 $ 580,019,537
(1) Represents 124,100 shares of Class A common stock that were repurchased under a Rule 10b5-1 Plan, as described above.
(2) Represents Class A common stock surrendered by participants under the Panera Bread 1992 Stock Incentive Plan and the
Panera Bread 2006 Stock Incentive Plan, as amended, as payment of applicable tax withholding on the vesting of restricted
stock and stock settled appreciation rights. Shares so surrendered by the participants are repurchased by us pursuant to the
terms of those plans and the applicable award agreements and not pursuant to publicly announced share repurchase
authorizations.
ITEM 6. SELECTED FINANCIAL DATA
The following selected financial data has been derived from our consolidated financial statements. The data set forth below should
be read in conjunction with “Management’s Discussion and Analysis of Consolidated Financial Condition and Results of
Operations” and our consolidated financial statements and notes thereto.
For the fiscal year ended (1)
(in thousands, except per share and percentage information)
December 25,
2012 December 27, 2011 December 28, 2010 December 29, 2009 December 30, 2008
Revenues:
Bakery-cafe sales, net . . . . . . . . . . . . . . $ 1,879,280 $ 1,592,951 $ 1,321,162 $ 1,153,255 $ 1,106,295
Franchise royalties and fees. . . . . . . . . . 102,076 92,793 86,195 78,367 74,800
Fresh dough and other product sales to
franchisees. . . . . . . . . . . . . . . . . . . . . . . 148,701 136,288 135,132 121,872 117,758
Total revenues. . . . . . . . . . . . . . . . . . 2,130,057 1,822,032 1,542,489 1,353,494 1,298,853
Costs and expenses:
Bakery-cafe expenses:
Cost of food and paper products. . . . $ 552,580 $ 470,398 $ 374,816 $ 337,599 $ 332,697
Labor. . . . . . . . . . . . . . . . . . . . . . . . . 559,446 484,014 419,140 370,595 352,462
Occupancy . . . . . . . . . . . . . . . . . . . . 130,793 115,290 100,970 95,996 90,390
Other operating expenses . . . . . . . . . 256,029 216,237 177,059 155,396 147,033
Total bakery-cafe expenses . . . . . 1,498,848 1,285,939 1,071,985 959,586 922,582
Fresh dough and other product cost of
sales to franchisees. . . . . . . . . . . . . . . . . . 131,006 116,267 110,986 100,229 108,573
Depreciation and amortization. . . . . . . . . 90,939 79,899 68,673 67,162 67,225
General and administrative expenses. . . . 117,932 113,083 101,494 83,169 84,393
Pre-opening expenses. . . . . . . . . . . . . . . . 8,462 6,585 4,282 2,451 3,374
Total costs and expenses . . . . . . . 1,847,187 1,601,773 1,357,420 1,212,597 1,186,147