Panera Bread 2012 Annual Report Download - page 31
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23
Consolidated Statements of Comprehensive Income 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 Comprehensive Income for the periods indicated. Percentages may not add due to
rounding:
For the fiscal year ended
December 25,
2012 December 27,
2011 December 28,
2010
Revenues:
Bakery-cafe sales, net 88.2% 87.4% 85.7%
Franchise royalties and fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.8 5.1 5.6
Fresh dough and other product sales to franchisees . . . . . . . . . . . . . . . . . . . 7.0 7.5 8.8
Total revenue . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100.0% 100.0% 100.0%
Costs and expenses:
Bakery-cafe expenses (1):
Cost of food and paper products . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29.4% 29.5% 28.4%
Labor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29.8 30.4 31.7
Occupancy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7.0 7.2 7.6
Other operating expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13.6 13.6 13.4
Total bakery-cafe expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 79.8 80.7 81.1
Fresh dough and other product cost of sales to franchisees (2) . . . . . . . . . . 88.1 85.3 82.1
Depreciation and amortization . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.3 4.4 4.5
General and administrative expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.5 6.2 6.6
Pre-opening expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.4 0.4 0.3
Total costs and expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 86.7 87.9 88.0
Operating profit. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13.3 12.1 12.0
Interest expense. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.1 — —
Other (income) expense, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (0.1) — 0.3
Income before income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13.3 12.1 11.7
Income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.1 4.6 4.4
Net income. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8.1 7.5 7.2
Less: net (loss) income attributable to noncontrolling interest. . . . . . . . . . . . — — —
Net income attributable to Panera Bread Company. . . . . . . . . . . . . . . . . 8.1% 7.5% 7.3%
Other comprehensive income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — — —
Comprehensive income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8.2% 7.5% 7.3%
(1) As a percentage of net bakery-cafe sales.
(2) As a percentage of fresh dough and other product sales to franchisees.