Papa Johns 1998 Annual Report Download - page 34

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31
Papa John’s International, Inc. and Subsidiaries
Consolidated Balance Sheets
December 27, December 28,
(Dollars in thousands, except per share amounts) 1998 1997
Assets
Current assets:
Cash and cash equivalents $ 33,984 $ 18,692
Accounts receivable 15,019 12,678
Accounts receivable-affiliates 2,273 2,454
Inventories 9,653 9,091
Deferred pre-opening costs – 3,827
Prepaid expenses and other current assets 4,815 2,434
Deferred income taxes 2,090 –
Total current assets 67,834 49,176
Investments 47,355 57,933
Net property and equipment 169,203 112,601
Notes receivable-franchisees 7,749 7,083
Notes receivable-affiliates 4,741 7,997
Other assets 22,415 18,453
Total assets $ 319,297 $ 253,243
Liabilities and stockholders’ equity
Current liabilities:
Accounts payable $ 18,149 $ 15,148
Accrued expenses 25,477 15,132
Deferred income taxes – 102
Total current liabilities 43,626 30,382
Unearned franchise and development fees 6,561 4,613
Deferred income taxes 5,066 3,987
Other long-term liabilities 1,333 1,528
Stockholders’ equity:
Preferred stock ($.01 par value per share; authorized
5,000,000 shares, no shares issued) – –
Common stock ($.01 par value per share; authorized
50,000,000 shares, issued 29,738,713 in 1998 and
29,127,717 in 1997) 297 291
Additional paid-in capital 164,710 149,850
Accumulated other comprehensive income
(unrealized gain on investments, net of tax) 688 321
Retained earnings 97,497 62,752
Treasury stock (36,572 shares in 1998 and 36,644 shares
in 1997, at cost) (481) ( 481)
Total stockholders’ equity 262,711 212,733
Total liabilities and stockholders’ equity $ 319,297 $ 253,243
See accompanying notes.