Baskin Robbins 2011 Annual Report Download - page 103

On December 3, 2010, the board of directors declared an aggregate dividend in the amount of $500.0 million, or
$21.93 per share, payable on that date in accordance with the Company’s charter to the holders of Class L
common stock as of that date. The dividend was recorded as a reduction to Class L common stock.
Common shares issued and outstanding included in the consolidated balance sheets include vested and unvested
restricted shares. Common stock in the consolidated statement of stockholders’ equity (deficit) excludes unvested
restricted shares.
(c) Treasury stock
During fiscal years 2011, 2010, and 2009, the Company repurchased a total of 23,624 shares, 193,800 shares, and
201,372 shares, respectively, of common stock and 3,266 shares, 65,414 shares, and 72,859 shares, respectively, of
Class L shares that were originally sold and granted to former employees of the Company. The Company accounts
for treasury stock under the cost method, and as such recorded increases in common treasury stock of $173
thousand, $693 thousand, and $387 thousand during fiscal years 2011, 2010, and 2009, respectively, based on the
fair market value of the shares on the respective dates of repurchase. On April 26, 2011, the Company retired all of
its treasury stock, resulting in a $2.0 million reduction in common treasury stock and additional paid-in-capital.
(d) Accumulated other comprehensive income
The components of accumulated other comprehensive income were as follows (in thousands):
Effect of
foreign
currency
translation Other
Accumulated
other
comprehensive
income
Balances at December 25, 2010 ................. $14,350 (723) 13,627
Other comprehensive income ................... 6,560 (586) 5,974
Balances at December 31, 2011 ............. $20,910 (1,309) 19,601
(13) Equity incentive plans
The Company’s 2006 Executive Incentive Plan, as amended, (the “2006 Plan”) provides for the grant of stock-
based and other incentive awards. A maximum of 12,191,145 shares of common stock may be delivered in
satisfaction of awards under the 2006 Plan, of which a maximum of 5,012,966 shares may be awarded as
nonvested (restricted) shares and a maximum of 7,178,179 may be delivered in satisfaction of stock options.
The Dunkin’ Brands Group, Inc. 2011 Omnibus Long-Term Incentive Plan (the “2011 Plan”) was adopted in July
2011, and is the only plan under which the Company currently grants awards. A maximum of 7,000,000 shares of
common stock may be delivered in satisfaction of awards under the 2011 Plan.
Total share-based compensation expense, which is included in general and administrative expenses, net,
consisted of the following (in thousands):
Fiscal year ended
December 31,
2011
December 25,
2010
December 26,
2009
Restricted shares ........................................... $2,739 639 1,684
2006 Plan stock options—executive ............................ 1,626 703 —
2006 Plan stock options—nonexecutive ......................... 202 119 61
2011 Plan stock options ...................................... 32 — —
Other .................................................... 33 — —
Total share-based compensation ........................... $4,632 1,461 1,745
Total related tax benefit ...................................... $1,852 619 676
-93-