Panera Bread 2013 Annual Report Download - page 28

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20
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 31,
2013
December 25,
2012
December 27,
2011
December 28,
2010
December 29,
2009
Revenues:
Bakery-cafe sales, net . . . . . . . . . . . . . . $ 2,108,908 $ 1,879,280 $ 1,592,951 $ 1,321,162 $ 1,153,255
Franchise royalties and fees. . . . . . . . . . 112,641 102,076 92,793 86,195 78,367
Fresh dough and other product sales to
franchisees . . . . . . . . . . . . . . . . . . . . . . . 163,453 148,701 136,288 135,132 121,872
Total revenues. . . . . . . . . . . . . . . . . . 2,385,002 2,130,057 1,822,032 1,542,489 1,353,494
Costs and expenses:
Bakery-cafe expenses:
Cost of food and paper products. . . . $ 625,622 $ 552,580 $ 470,398 $ 374,816 $ 337,599
Labor. . . . . . . . . . . . . . . . . . . . . . . . . 625,457 559,446 484,014 419,140 370,595
Occupancy . . . . . . . . . . . . . . . . . . . . 148,816 130,793 115,290 100,970 95,996
Other operating expenses . . . . . . . . . 295,539 256,029 216,237 177,059 155,396
Total bakery-cafe expenses . . . . . 1,695,434 1,498,848 1,285,939 1,071,985 959,586
Fresh dough and other product cost of
sales to franchisees. . . . . . . . . . . . . . . . . . 142,160 131,006 116,267 110,986 100,229
Depreciation and amortization. . . . . . . . . 106,523 90,939 79,899 68,673 67,162
General and administrative expenses. . . . 123,335 117,932 113,083 101,494 83,169
Pre-opening expenses. . . . . . . . . . . . . . . . 7,794 8,462 6,585 4,282 2,451
Total costs and expenses . . . . . . . 2,075,246 1,847,187 1,601,773 1,357,420 1,212,597
Operating profit . . . . . . . . . . . . . . . . . . . . 309,756 282,870 220,259 185,069 140,897
Interest expense . . . . . . . . . . . . . . . . . . . . 1,053 1,082 822 675 700
Other (income) expense, net . . . . . . . . . . (4,017) (1,208)(466) 4,232 273
Income before income taxes . . . . . . . . . . 312,720 282,996 219,903 180,162 139,924
Income taxes . . . . . . . . . . . . . . . . . . . . . . 116,551 109,548 83,951 68,563 53,073
Net income. . . . . . . . . . . . . . . . . . 196,169 173,448 135,952 111,599 86,851
Less: net (loss) income attributable to
noncontrolling interest . . . . . . . . . . . . . . . ———
(267) 801
Net income attributable to Panera
Bread Company . . . . . . . . . . . . . . . . $ 196,169 $ 173,448 $ 135,952 $ 111,866 $ 86,050
Earnings per common share attributable
to Panera Bread Company:
Basic . . . . . . . . . . . . . . . . . . . . . . . . . $ 6.85 $ 5.94 $ 4.59 3.65 $ 2.81
Diluted . . . . . . . . . . . . . . . . . . . . . . . $ 6.81 $ 5.89 $ 4.55 $ 3.62 $ 2.78
Weighted average shares of common and
common equivalent shares outstanding:
Basic . . . . . . . . . . . . . . . . . . . . . . . . . 28,629 29,217 29,601 30,614 30,667
Diluted . . . . . . . . . . . . . . . . . . . . . . . 28,794 29,455 29,903 30,922 30,979