Papa Johns 2008 Annual Report Download - page 72

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65
Papa John’s International, Inc. and Subsidiaries
Consolidated Balance Sheets
December 28, December 30,
(In thousands, except per share amounts) 2008 2007
Assets
Current assets:
Cash and cash equivalents 10,987$ 8,877$
Accounts receivable (less allowance for doubtful
accounts of $3,003 in 2008 and $4,431 in 2007) 22,921 21,675
Accounts receivable-affiliates (no allowance for doubtful
accounts in 2008 and 2007) 854 864
Inventories 16,872 18,806
Prepaid expenses 9,797 10,711
Other current assets 5,275 5,581
Assets held for sale 1,540 -
Deferred income taxes 7,102 7,147
Total current assets 75,348 73,661
Investments 530 825
Net property and equipment 189,992 198,957
Notes receivable (less allowance for doubtful
accounts of $5,445 in 2008 and $1,061 in 2007) 7,594 11,804
Deferred income taxes 17,518 12,384
Goodwill 76,914 86,505
Other assets 18,572 17,681
Total assets
386,468$ 401,817$
Liabilities and stockholders’ equity
Current liabilities:
Accounts payable 29,148$ 31,157$
Income and other taxes 9,685 10,866
Accrued expenses 54,220 56,466
Current portion of debt 7,075 8,700
Total current liabilities 100,128 107,189
Unearned franchise and development fees 5,916 6,284
Long-term debt, net of current portion 123,579 134,006
Other long-term liabilities 26,859 27,435
Stockholders’ equity:
Preferred stock ($.01 par value per share; no shares issued) - -
Common stock ($.01 par value per share; issued 35,126 in 2008
and 34,866 in 2007) 352 349
Additional paid-in capital 216,553 208,598
Accumulated other comprehensive income (loss) (3,818) 156
Retained earnings 133,759 96,963
Treasury stock (7,489 shares in 2008 and 6,089 shares in 2007, at cost) (216,860) (179,163)
Total stockholders’ equity 129,986 126,903
Total liabilities and stockholders’ equity 386,468$ 401,817$
See accompanying notes.