Jack In The Box 2008 Annual Report Download - page 50

Download and view the complete annual report

Please find page 50 of the 2008 Jack In The Box annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 88

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88

JACK IN THE BOX INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF EARNINGS
2008 2007 2006
Fiscal Year
(Dollars in thousands, except per share data)
Revenues:
Restaurant sales ..................................... $2,101,576 $2,150,985 $2,100,955
Distribution sales .................................... 275,225 222,560 170,548
Franchised restaurant revenues .......................... 162,760 139,886 109,741
2,539,561 2,513,431 2,381,244
Operating costs and expenses:
Restaurant costs of sales ............................... 701,051 685,179 655,956
Restaurant operating costs .............................. 1,063,092 1,080,871 1,076,732
Distribution costs of sales .............................. 273,369 220,240 168,803
Franchised restaurant costs ............................. 64,955 56,491 44,456
Selling, general and administrative expenses ................ 287,555 291,745 298,436
Gains on the sale of company-operated restaurants............ (66,349) (38,091) (40,464)
2,323,673 2,296,435 2,203,919
Earnings from operations ................................ 215,888 216,996 177,325
Interest expense ....................................... 28,070 32,127 19,574
Interest income........................................ (642) (8,792) (7,518)
Interest expense, net .................................. 27,428 23,335 12,056
Earnings from continuing operations and before income taxes and
cumulative effect of accounting change .................... 188,460 193,661 165,269
Income taxes ......................................... 70,251 68,982 58,845
Earnings from continuing operations ........................ 118,209 124,679 106,424
Earnings from discontinued operations, net ................... 1,070 904 1,687
Earnings before cumulative effect of accounting change.......... 119,279 125,583 108,111
Cumulative effect of accounting change, net .................. — — (1,044)
Net earnings.......................................... $ 119,279 $ 125,583 $ 107,067
Net earnings per share — basic:
Earnings from continuing operations ...................... $ 2.03 $ 1.91 $ 1.52
Earnings from discontinued operations..................... 0.02 0.01 0.02
Cumulative effect of accounting change.................... — — (0.01)
Net earnings per share ................................ $ 2.05 $ 1.92 $ 1.53
Net earnings per share — diluted:
Earnings from continuing operations ...................... $ 1.99 $ 1.85 $ 1.48
Earnings from discontinued operations..................... 0.02 0.02 0.02
Cumulative effect of accounting change.................... — — (0.01)
Net earnings per share ................................ $ 2.01 $ 1.87 $ 1.49
Weighted-average shares outstanding:
Basic ............................................. 58,249 65,314 69,888
Diluted ............................................ 59,445 67,263 71,834
See accompanying notes to consolidated financial statements.
F-4