Jack In The Box 2011 Annual Report Download - page 21

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Table of Contents
ITEM 6. SELECTED FINANCIAL DATA
Our fiscal year is 52 or 53 weeks, ending the Sunday closest to September 30. All years presented include 52 weeks, except for 2010 which includes 53
weeks. The selected financial data reflects Quick Stuff as discontinued operations for fiscal years 2007 through 2009. The following selected financial data of
Jack in the Box Inc. for each fiscal year was extracted or derived from our audited financial statements. This selected financial data should be read in
conjunction with our audited consolidated financial statements and accompanying notes and Management’s Discussion and Analysis of Financial Condition
and Results of Operations included elsewhere in this Annual Report on Form 10-K. Our consolidated financial information may not be indicative of our future
performance.

    


Total revenues $ 2,193,298 $ 2,297,531 $ 2,471,096 $ 2,539,561 $ 2,513,431
Total operating costs and expenses 2,111,790 2,230,609 2,318,470 2,390,022 2,334,526
Gains on the sale of company-operated restaurants, net (61,125) (54,988) (78,642) (66,349) (38,091)
Total operating costs and expenses, net 2,050,665 2,175,621 2,239,828 2,323,673 2,296,435
Earnings from operations 142,633 121,910 231,268 215,888 216,996
Interest expense, net 16,855 15,894 20,767 27,428 23,335
Income taxes 45,178 35,806 79,455 70,251 68,982
Earnings from continuing operations $ 80,600 $ 70,210 $ 131,046 $ 118,209 $ 124,679

Earnings per share from continuing operations:
Basic $ 1.63 $ 1.27 $ 2.31 $ 2.03 $ 1.91
Diluted $ 1.61 $ 1.26 $ 2.27 $ 1.99 $ 1.85
Weighted-average shares outstanding — Diluted (1) 50,085 55,843 57,733 59,445 67,263
Market price at year-end $ 19.92 $ 21.47 $ 20.07 $ 22.06 $ 32.42

Jack in the Box restaurants:
Company-operated average unit volume (2) $ 1,405 $ 1,297 $ 1,420 $ 1,439 $ 1,430
Franchise-operated average unit volume (2)(3) $ 1,286 $ 1,287 $ 1,400 $ 1,410 $ 1,414
System average unit volume (2)(3) $ 1,331 $ 1,292 $ 1,412 $ 1,429 $ 1,425
Change in company-operated same-store sales 3.1% (8.6)% (1.2)% 0.2% 6.1%
Change in franchise-operated same-store sales (3) 1.3% (7.8)% (1.3)% 0.1% 5.3%
Change in system same-store sales (3) 1.8% (8.2)% (1.3)% 0.2% 5.8%
Qdoba restaurants:
Company-operated average unit volume (2) $ 922 $ 885 $ 905 $ 1,037 $ 1,036
Franchise-operated average unit volume (2)(3) $ 987 $ 943 $ 905 $ 919 $ 930
System average unit volume (2)(3) $ 961 $ 923 $ 905 $ 946 $ 953
Change in company-operated same-store sales 5.1% 0.8% (5.0)% 3.3% 7.0%
Change in franchise-operated same-store sales (3) 5.4% 3.6% (1.3)% 1.0% 3.8%
Change in system same-store sales (3) 5.3% 2.8% (2.3)% 1.6% 4.6%
SG&A rate 10.2% 10.6% 10.5% 10.4% 10.8%
Capital expenditures related to continuing operations $ 129,312 $ 95,610 $ 153,500 $ 178,605 $ 148,508

Total assets $ 1,432,322 $ 1,407,092 $ 1,455,910 $ 1,498,418 $ 1,374,690
Long-term debt 447,350 352,630 357,270 516,250 427,516
Stockholders’ equity 405,956 520,463 524,489 457,111 409,585
(1) Weighted-average shares reflect the impact of common stock repurchases under Board-approved programs.
(2) Fiscal 2010 average unit volumes have been adjusted to exclude the 53 week for the purpose of comparison to other years.
(3) Changes in same-store sales and average unit volume is presented for franchise restaurants and on a system-wide basis, which includes company and franchise restaurants. Franchise sales represent sales at franchise
restaurants and are revenues to our franchisees. We do not record franchise sales as revenues; however, our royalty revenues are calculated based on a percentage of franchise sales. We believe franchise and system
sales growth and average unit volume information is useful to investors as a significant indicator of the overall strength of our business as it incorporates our significant revenue drivers which are company and
franchise same-store sales as well as net unit development. Company, franchise and system changes in same-store sales include the results of all restaurants that have been open more than one year.
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