Papa Johns 2002 Annual Report Download - page 42

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41
Papa John’s International, Inc. and Subsidiaries
Consolidated Balance Sheets
December 29, December 30,
(Dollars in thousands, except per share amounts) 2002 2001
Ass e ts
Current assets:
Cash and cash equivalents 9,499$ 17,609$
Accounts receivable (less allowance for doubtful accounts of
$2,484 in 2002 and $1,434 in 2001) 14,487 18,891
Accounts receivable-affiliates 2,276 4,347
Inventories 16,341 12,659
Prepaid expenses and other current assets 10,955 8,986
Deferred income taxes 3,875 2,639
Total current assets 57,433 65,131
Investments 7,742 3,424
Net property and equipment 223,599 238,945
Notes receivable-franchisees (less allowance for doubtful accounts of
$4,436 in 2002 and $469 in 2001) 13,787 16,913
Notes receivable-affiliates 335 661
Goodwill 48,756 48,274
Other assets 13,817 14,091
Total assets 365,469$ 387,439$
Liabilities and stockholders’ equity
Current liabilities:
Accounts payable 23,579$ 23,808$
Income and other taxes 16,230 15,628
Accrued expenses 34,658 26,773
Current portion of debt 235 225
Total current liabilities 74,702 66,434
Unearned franchise and development fees 3,915 3,292
Long-term debt, net of current portion 139,850 105,085
Deferred income taxes 2,445 3,467
Other long-term liabilities 22,610 13,529
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 31,438,342 in 2002 and 31,039,942 in 2001) 314 310
Additional paid-in capital 212,107 201,797
Accumulated other comprehensive loss (5,314) (2,934)
Retained earnings 260,358 213,561
Treasury stock (13,397,464 shares in 2002 and 8,892,473 shares in 2001, at cost) (345,518) (217,102)
Total stockholders’ equity 121,947 195,632
Total liabilities and stockholders’ equity 365,469$ 387,439$
See accompanying notes.