Papa Johns 2003 Annual Report Download - page 41

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40
Papa John’s International, Inc. and Subsidiaries
Consolidated Balance Sheets
December 28,
December 29,
(Dollars in thousands, except per share amounts)
2003
2002
Assets
Current assets:
Cash and cash equivalents
7,071
$
9,499
$
Accounts receivable (less allowance for doubtful accounts
of $4,907 in 2003 and $2,484 in 2002)
17,322
14,487
Accounts receivable-affiliates
2,395
2,276
Inventories
17,030
16,341
Prepaid expenses and other current assets
11,590
12,318
Deferred income taxes
7,050
3,875
Total current assets
62,458
58,796
Investments
7,522
7,742
Net property and equipment
203,818
223,599
Notes receivable-franchisees (less allowance for doubtful
accounts of $6,356 in 2003 and $4,436 in 2002)
10,380
13,787
Notes receivable-affiliates
1,200
335
Goodwill
48,577
48,756
Other assets
13,259
13,817
Total assets
347,214
$
366,832
$
Liabilities and stockholders’ equity
Current liabilities:
Accounts payable
28,309
$
24,942
$
Income and other taxes
12,070
16,230
Accrued expenses
40,288
34,658
Current portion of debt
250
235
Total current liabilities
80,917
76,065
Unearned franchise and development fees
5,911
3,915
Long-term debt, net of current portion
61,000
139,850
Deferred income taxes
7,881
2,445
Other long-term liabilities
32,233
22,610
Stockholders’ equity:
Preferred stock ($.01 par value per share; authorized 5,000,000
shares, no shares issued)
-
-
Common stock ($.01 par value per share; authorized 50,000,000
shares, issued 31,716,105 in 2003 and 31,438,342 in 2002)
317
314
Additional paid-in capital
219,584
212,107
Accumulated other comprehensive loss
(3,116)
(5,314)
Retained earnings
293,921
260,358
Treasury stock (13,603,587 shares in 2003 and 13,397,464
shares in 2002, at cost)
(351,434)
(345,518)
Total stockholders’ equity
159,272
121,947
Total liabilities and stockholders’ equity
347,214
$
366,832
$
S
ee accompanying notes.