Panera Bread 2015 Annual Report Download - page 30

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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 29,
2015
December 30,
2014
December 31,
2013
December 25,
2012
December 27,
2011
Revenues:
Bakery-cafe sales, net . . . . . . . . . . . . . . $ 2,358,794 $ 2,230,370 $ 2,108,908 $ 1,879,280 $ 1,592,951
Franchise royalties and fees. . . . . . . . . . 138,563 123,686 112,641 102,076 92,793
Fresh dough and other product sales to
franchisees . . . . . . . . . . . . . . . . . . . . . . . 184,223 175,139 163,453 148,701 136,288
Total revenues. . . . . . . . . . . . . . . . . . 2,681,580 2,529,195 2,385,002 2,130,057 1,822,032
Costs and expenses:
Bakery-cafe expenses:
Cost of food and paper products. . . . $ 715,502 $ 669,860 $ 625,622 $ 552,580 $ 470,398
Labor. . . . . . . . . . . . . . . . . . . . . . . . . 754,646 685,576 625,457 559,446 484,014
Occupancy . . . . . . . . . . . . . . . . . . . . 169,998 159,794 148,816 130,793 115,290
Other operating expenses . . . . . . . . . 334,635 314,879 295,539 256,029 216,237
Total bakery-cafe expenses . . . . . 1,974,781 1,830,109 1,695,434 1,498,848 1,285,939
Fresh dough and other product cost of
sales to franchisees. . . . . . . . . . . . . . . . . . 160,706 152,267 142,160 131,006 116,267
Depreciation and amortization. . . . . . . . . 135,398 124,109 106,523 90,939 79,899
General and administrative expenses. . . . 142,904 138,060 123,335 117,932 113,083
Pre-opening expenses. . . . . . . . . . . . . . . . 9,089 8,707 7,794 8,462 6,585
Refranchising loss . . . . . . . . . . . . . . . . . . 17,108————
Total costs and expenses . . . . . . . 2,439,986 2,253,252 2,075,246 1,847,187 1,601,773
Operating profit . . . . . . . . . . . . . . . . . . . . 241,594 275,943 309,756 282,870 220,259
Interest expense . . . . . . . . . . . . . . . . . . . . 3,830 1,824 1,053 1,082 822
Other (income) expense, net . . . . . . . . . . 1,192 (3,175)(4,017)(1,208)(466)
Income before income taxes . . . . . . . . . . 236,572 277,294 312,720 282,996 219,903
Income taxes . . . . . . . . . . . . . . . . . . . . . . 87,247 98,001 116,551 109,548 83,951
Net income. . . . . . . . . . . . . . . . . . 149,325 179,293 196,169 173,448 135,952
Less: Net loss attributable to
noncontrolling interest . . . . . . . . . . . . . . . (17)————
Net income attributable to Panera
Bread Company . . . . . . . . . . . . . . . . $ 149,342 $ 179,293 $ 196,169 $ 173,448 $ 135,952
Earnings per common share attributable
to Panera Bread Company:
Basic . . . . . . . . . . . . . . . . . . . . . . . . . $ 5.81 $ 6.67 $ 6.85 $ 5.94 $ 4.59
Diluted . . . . . . . . . . . . . . . . . . . . . . . $ 5.79 $ 6.64 $ 6.81 $ 5.89 $ 4.55
Weighted average shares of common and
common equivalent shares outstanding:
Basic . . . . . . . . . . . . . . . . . . . . . . . . . 25,685 26,881 28,629 29,217 29,601
Diluted . . . . . . . . . . . . . . . . . . . . . . . 25,788 26,999 28,794 29,455 29,903