Papa Johns 2008 Annual Report Download - page 64

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57
We have certain other commercial commitments where payment is contingent upon the occurrence of
certain events. Such commitments include the following by year (in thousands):
Less than 1-3 3-5 After
1 Year Years Years 5 Years Total
Other Commercial Commitments:
Standby letters of credit 24,878$ -$ -$ -$ 24,878$
Amount of Commitment Expiration Per Period
See “Notes 8, 11 and 16” of “Notes to Consolidated Financial Statements” for additional information
related to contractual and other commitments.
The contractual obligations above exclude the debt, operating leases and other commercial commitments
associated with franchisee VIEs. The third-party creditors and landlords of the franchisee VIEs do not
have any recourse to Papa John’s.
Forward-Looking Statements
Certain matters discussed in this report, including information within Management’s Discussion and
Analysis of Financial Condition and Results of Operations, and other Company communications
constitute forward-looking statements within the meaning of the federal securities laws. Generally, the
use of words such as “expect,” “estimate,” “believe,” “anticipate,” “will,” “forecast,” “plan,” project,” or
similar words identify forward-looking statements that we intend to be included within the safe harbor
protections provided by the federal securities laws. Such statements may relate to projections concerning
revenue, earnings and other financial and operational measures. Such statements are not guarantees of
future performance and involve certain risks, uncertainties and assumptions, which are difficult to predict
and many of which are beyond our control. Therefore, actual outcomes and results may differ materially
from those matters expressed or implied in such forward-looking statements.
The risks, uncertainties and assumptions that are involved in our forward-looking statements include, but
are not limited to: changes in pricing or other marketing or promotional strategies by competitors which
may adversely affect sales; new product and concept developments by food industry competitors; the
ability of the company and its franchisees to meet planned growth targets and operate new and existing
restaurants profitably; general economic conditions and resulting impact on consumer buying habits;
increases in or sustained high costs of food ingredients and other commodities, paper, utilities, fuel,
employee compensation and benefits, insurance and similar costs; changes in consumer preferences; the
ability of the Company to pass along such increases in or sustained high costs to franchisees; and the
impact of legal claims and current proposed legislation impacting our business. These and other risk
factors are discussed in detail in “Part I. Item 1A. – Risk Factors” of this report. We undertake no
obligation to update publicly any forward-looking statements, whether as a result of future events, new
information or otherwise, except as required by law.