Baskin Robbins 2013 Annual Report Download - page 88

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Depreciation and amortization is not included in segment profit for each reportable segment. However, depreciation and
amortization is included in the financial results regularly provided to the Company’s senior management. Depreciation and
amortization by reportable segments was as follows (in thousands):
Depreciation and amortization
Fiscal year ended
December 28,
2013
December 29,
2012
December 31,
2011
Dunkin’ Donuts U.S. $ 18,506 19,021 20,068
Dunkin’ Donuts International 50 92 130
Baskin-Robbins U.S. 530 1,052 522
Baskin-Robbins International 135 643 866
Total reportable segments 19,221 20,808 21,586
Corporate and other 30,145 35,219 30,936
Total depreciation and amortization $ 49,366 56,027 52,522
Property and equipment, net by geographic region as of December 28, 2013 and December 29, 2012 is based on the physical
locations within the indicated geographic regions and are as follows (in thousands):
December 28,
2013
December 29,
2012
United States $ 182,544 180,525
International 314 647
Total property and equipment, net $ 182,858 181,172
(13) Stockholders’ equity
(a) Public offerings
On August 1, 2011, the Company completed an initial public offering in which the Company sold 22,250,000 shares of
common stock at an initial public offering price of $19.00 per share, less underwriter discounts and commissions, resulting in
net proceeds to the Company of approximately $390.0 million after deducting underwriter discounts and commissions and
expenses paid or payable by the Company. Additionally, the underwriters exercised, in full, their option to purchase 3,337,500
additional shares, which were sold by certain existing stockholders. The Company did not receive any proceeds from the sales
of shares by the existing stockholders. The Company used a portion of the net proceeds from the initial public offering to repay
the remaining $375.0 million outstanding under the senior notes, with the remaining net proceeds being used for working
capital and general corporate purposes.
In the fourth quarter of 2011, certain existing stockholders sold a total of 23,937,986 shares of our common stock at a price of
$25.62 per share, less underwriting discounts and commissions, in a secondary public offering. The Company did not receive
any proceeds from the sales of shares by the existing stockholders. The Company incurred approximately $984 thousand of
expenses in connection with the offering, which were paid by the Company in accordance with a registration rights and
coordination agreement with our Sponsors (see note 19(a)).
In April 2012 and August 2012, certain existing stockholders sold 30,360,000 and 21,754,659 shares, respectively, of our
common stock at prices of $29.50 and $30.00 per share, respectively, less underwriting discounts and commissions, in
secondary public offerings. The Company did not receive any proceeds from the sales of shares by the existing stockholders.
The Company incurred approximately $1.7 million of expenses in connection with the offerings.
(b) Common stock
Prior to the initial public offering, our charter authorized the Company to issue two classes of common stock, Class L and
common. The rights of the holders of Class L and common shares were identical, except with respect to priority in the event of
a distribution, as defined. The Class L common stock was entitled to a preference with respect to all distributions by the
Company until the holders of Class L common stock had received an amount equal to the Class L base amount of
approximately $41.75 per share, plus an amount sufficient to generate an internal rate of return of 9% per annum on the Class L
base amount, compounded quarterly. Thereafter, the Class L and common stock shared ratably in all distributions by the
Company. Class L common stock was classified outside of permanent equity in the consolidated balance sheets at its
preferential distribution amount, as the Class L stockholders controlled the timing and amount of distributions. The Class L