Dunkin' Donuts 2011 Annual Report Download - page 49

Fiscal Year
2007 2008 2009 2010 2011
($ in thousands, except per share data or as otherwise noted)
Consolidated Balance Sheet Data:
Total cash, cash equivalents, and restricted cash
(5)
.. $ 147,968 251,368 171,403 134,504 246,984
Total assets .............................. 3,608,753 3,341,649 3,224,717 3,147,288 3,224,018
Total debt(6) .............................. 1,603,561 1,668,410 1,451,757 1,864,881 1,473,469
Total liabilities ........................... 2,606,011 2,614,327 2,454,109 2,841,047 2,478,082
Common stock, Class L(7) ................... 1,033,450 1,127,863 1,232,001 840,582 —
Total stockholders’ equity (deficit)(7) .......... (30,708) (400,541) (461,393) (534,341) 745,936
Other Financial Data:
Capital expenditures ....................... $ 37,542 27,518 18,012 15,358 18,596
Adjusted operating income(8) ................ 218,369 228,817 229,056 233,067 270,740
Adjusted net income(8) ...................... 61,021 69,719 59,504 87,759 101,744
Points of Distribution(9):
Dunkin’ Donuts U.S. ....................... 5,769 6,395 6,566 6,772 7,015
Dunkin’ Donuts International ................ 2,219 2,440 2,620 2,988 3,068
Baskin-Robbins U.S. ....................... 2,763 2,692 2,597 2,547 2,457
Baskin-Robbins International ................ 3,111 3,321 3,610 3,886 4,254
Total distribution points .................... 13,862 14,848 15,393 16,193 16,794
Comparable Store Sales Growth (U.S. Only)(10):
Dunkin’ Donuts ........................... 1.3% (0.8)% (1.3)% 2.3% 5.1%
Baskin-Robbins ........................... 0.3% (2.2)% (6.0)% (5.2)% 0.5%
Franchisee-Reported Sales ($ in millions)(11):
Dunkin’ Donuts U.S. ....................... $ 4,792 5,004 5,174 5,403 5,919
Dunkin’ Donuts International ................ 476 529 508 584 636
Baskin-Robbins U.S. ....................... 572 560 524 494 496
Baskin-Robbins International ................ 723 800 970 1,158 1,292
Total Franchisee-Reported Sales .............. $ 6,563 6,893 7,176 7,639 8,343
Company-Owned Store Sales ($ in millions)(12):
Dunkin’ Donuts U.S. ....................... $ — — 2 17 12
Baskin-Robbins U.S. .......................———— 1
Systemwide Sales Growth(13):
Dunkin’ Donuts U.S. ....................... 5.7% 4.4% 3.4% 4.7% 9.4%
Dunkin’ Donuts International ................ 8.5% 11.1% (4.0)% 15.0% 9.1%
Baskin-Robbins U.S. ....................... (1.3)% (2.1)% (6.4)% (5.5)% 0.4%
Baskin-Robbins International ................ 9.7% 10.7% 21.3% 19.4% 11.6%
Total Systemwide Sales Growth .............. 5.6% 5.0% 4.1% 6.7% 9.1%
(1)
Fiscal year 2008 includes $294.5 million of goodwill impairment charges related to Dunkin’ Donuts U.S. and
Baskin-Robbins International, as well as a $34.0 million trade name impairment related to Baskin-Robbins U.S.
(2) Includes fees paid to the Sponsors of $3.0 million for each of the fiscal years 2007, 2008, 2009, and 2010,
and $16.4 million for fiscal year 2011 under a management agreement, which was terminated in connection
with our IPO.
(3) Fiscal year 2011 includes an impairment of the investment in the Korea joint venture of $19.8 million, less a
reduction in depreciation and amortization, net of tax, resulting from the impairment of the underlying
intangible and long-lived assets of $976,000. Amounts also include amortization expense, net of tax, related
to intangible franchise rights established in purchase accounting of $1.8 million, $907,000, $899,000,
$897,000 and $868,000 for fiscal years 2007, 2008, 2009, 2010, and 2011, respectively.
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