Papa Johns 2007 Annual Report Download - page 69

Download and view the complete annual report

Please find page 69 of the 2007 Papa Johns 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 114

  • 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
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114

62
Papa John’s International, Inc. and Subsidiaries
Consolidated Balance Sheets
December 30
,
December 31
,
(In thousands, except per share amounts) 2007 2006
Assets
Current assets:
Cash and cash equivalents 8,877$ 12,979$
Accounts receivable (less allowance for doubtful
accounts of $4,431 in 2007 and $4,471 in 2006) 21,675 22,543
Accounts receivable-affiliates (less allowance for doubtful
accounts of $1,456 in 2006, none in 2007) 864 783
Inventories 18,806 26,729
Prepaid expenses 10,711 7,779
Other current assets 5,581 7,368
Deferred income taxes 7,147 6,362
Total current assets 73,661 84,543
Investments 825 1,254
Net property and equipment 198,957 197,722
Notes receivable (less allowance for doubtful
accounts of $1,061 in 2007 and $1,705 in 2006) 11,804 12,104
Deferred income taxes 12,384 1,643
Goodwill 86,505 67,357
Other assets 17,681 15,016
Total assets 401,817$ 379,639$
Liabilities and stockholders’ equity
Current liabilities:
Accounts payable 31,157$ 29,202$
Income and other taxes 10,866 15,136
Accrued expenses 56,466 57,233
Current portion of debt 8,700 525
Total current liabilities 107,189 102,096
Unearned franchise and development fees 6,284 7,562
Long-term debt, net of current portion 134,006 96,511
Other long-term liabilities 27,435 27,302
Stockholders’ equity:
Preferred stock ($.01 par value per share; no shares issued) - -
Common stock ($.01 par value per share; issued 34,866 in 2007
and 34,101 in 2006) 349 341
Additional paid-in capital 208,598 187,990
Accumulated other comprehensive income 156 515
Retained earnings 96,963 63,614
Treasury stock (6,089 shares in 2007 and 3,405 shares in 2006, at cost) (179,163) (106,292)
Total stockholders’ equity 126,903 146,168
Total liabilities and stockholders’ equity 401,817$ 379,639$
See accompanying notes.