Panera Bread 2015 Annual Report Download - page 84

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PANERA BREAD COMPANY
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (continued)
74
“Unallocated cash and cash equivalents” relates primarily to corporate cash and cash equivalents, “unallocated trade and other
accounts receivable” relates primarily to rebates and interest receivable, “unallocated property and equipment” relates primarily
to corporate fixed assets, “unallocated deposits and other” relates primarily to insurance deposits, and “other unallocated assets”
relates primarily to current and deferred income taxes.
20. Earnings Per Share
The following table sets forth the computation of basic and diluted earnings per share (in thousands, except for per share data):
For the fiscal year ended
December 29,
2015
December 30,
2014
December 31,
2013
Amounts used for basic and diluted per share calculations:
Net income attributable to Panera Bread Company . . . . . . . . . . . . . . . . . . . . $ 149,342 $ 179,293 $ 196,169
Weighted average number of shares outstanding — basic . . . . . . . . . . . . . . . 25,685 26,881 28,629
Effect of dilutive stock-based employee compensation awards . . . . . . . . . . . 103 118 165
Weighted average number of shares outstanding — diluted. . . . . . . . . . . . . . 25,788 26,999 28,794
Earnings per common share:
Basic . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 5.81 $ 6.67 $ 6.85
Diluted . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 5.79 $ 6.64 $ 6.81
For each of fiscal 2015, fiscal 2014, and fiscal 2013, weighted-average outstanding stock options, restricted stock, and stock-
settled appreciation rights of less than 0.1 million shares were excluded in calculating diluted earnings per share as the exercise
price exceeded fair market value and the inclusion of such shares would have been antidilutive.
21. Supplemental Cash Flow Information
The following table sets forth supplemental cash flow information for the periods indicated (in thousands):
For the fiscal year ended
December 29,
2015
December 30,
2014
December 31,
2013
Cash paid during the year for:
Interest . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 3,073 $ 773 $ 253
Income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 92,964 91,187 104,072
Non-cash investing and financing activities:
Change in accrued property and equipment purchases . . . . . . . . . . . . . . . . $ (2,894) $ 15,479 $ 16,194
Financed property and equipment purchases . . . . . . . . . . . . . . . . . . . . . . . 12,680 — —
Accrued purchase price of Florida acquisition . . . . . . . . . . . . . . . . . . . . . . — — 270
Investment in municipal industrial revenue bonds . . . . . . . . . . . . . . . . . . . (186)(186)(186)
Asset retirement obligations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 635 9,341 664