Baskin Robbins 2011 Annual Report Download - page 78
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DUNKIN’ BRANDS GROUP, INC. AND SUBSIDIARIES
Consolidated Statements of Operations
(In thousands, except per share data)
Fiscal year ended
December 31,
2011
December 25,
2010
December 26,
2009
Revenues:
Franchise fees and royalty income ......................... $398,474 359,927 344,020
Rental income ......................................... 92,145 91,102 93,651
Sales of ice cream products ............................... 100,068 84,989 75,256
Other revenues ......................................... 37,511 41,117 25,146
Total revenues ................................. 628,198 577,135 538,073
Operating costs and expenses:
Occupancy expenses—franchised restaurants ................ 51,878 53,739 51,964
Cost of ice cream products ............................... 72,329 59,175 47,432
General and administrative expenses, net .................... 240,625 223,620 197,005
Depreciation .......................................... 24,497 25,359 26,917
Amortization of other intangible assets ...................... 28,025 32,467 35,994
Impairment charges ..................................... 2,060 7,075 8,517
Total operating costs and expenses ................. 419,414 401,435 367,829
Equity in net income (loss) of joint ventures:
Net income, excluding impairment ......................... 16,277 17,825 14,301
Impairment charge ...................................... (19,752) — —
Total equity in net income (loss) of joint ventures ......... (3,475) 17,825 14,301
Operating income .............................. 205,309 193,525 184,545
Other income (expense):
Interest income ........................................ 623 305 386
Interest expense ........................................ (105,072) (112,837) (115,405)
Gain (loss) on debt extinguishment and refinancing
transactions ......................................... (34,222) (61,955) 3,684
Other gains, net ........................................ 175 408 1,066
Total other expense ............................. (138,496) (174,079) (110,269)
Income before income taxes ...................... 66,813 19,446 74,276
Provision (benefit) for income taxes ............................ 32,371 (7,415) 39,268
Net income ................................... $ 34,442 26,861 35,008
Earnings (loss) per share:
Class L-basic and diluted ................................ $ 6.14 4.87 4.57
Common-basic and diluted ............................... $ (1.41) (2.04) (1.69)
See accompanying notes to consolidated financial statements.
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