Papa Johns 2009 Annual Report Download - page 101

Download and view the complete annual report

Please find page 101 of the 2009 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 118

  • 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
  • 115
  • 116
  • 117
  • 118

94
20. Segment Information (continued)
Our reportable segments are business units that provide different products or services. Separate
management of each segment is required because each business unit is subject to different operational
issues and strategies. No single external customer accounted for 10% or more of our consolidated
revenues. The accounting policies of the segments are the same as those described in the summary of
significant accounting policies (see Note 2). Our segment information is as follows:
(in thousands)
2009
2008
2007
Revenues from external customers:
Domestic Company-owned restaurants
503,818
$
533,255
$
504,330
$
Domestic commissaries
407,437
429,068
399,099
Domestic franchising
61,531
61,304
60,041
International
41,467
38,717
31,174
Variable interest entities (1)
37,735
8,328
7,131
All others
54,045
61,415
61,820
Total revenues from external customers
1,106,033
$
1,132,087
$
1,063,595
$
Intersegment revenues:
Domestic commissaries
144,251
$
144,392
$
130,110
$
Domestic franchising
2,019
1,908
1,535
International
1,093
1,227
826
Variable interest entities (1)
142,407
165,449
138,233
All others
11,751
15,569
15,998
Total intersegment revenues
301,521
$
328,545
$
286,702
$
Depreciation and amortization:
Domestic restaurants
12,993
$
14,775
$
15,246
$
Domestic commissaries
4,819
4,780
4,845
International
2,207
2,338
2,268
Variable interest entities
1,310
73
54
All others
2,743
3,110
2,751
Unallocated corporate expenses
8,684
7,770
6,702
Total depreciation and amortization
32,756
$
32,846
$
31,866
$
Income (loss) before income taxes:
Domestic Company-owned restaurants (2)
34,894
$
19,997
$
25,407
$
Domestic commissaries (3)
29,393
30,235
35,847
Domestic franchising (4)
53,690
53,610
51,466
International (5)
(3,050)
(7,193)
(8,734)
Variable interest entities (6)
22,543
(10,540)
(31,709)
All others (7)
2,697
9,175
6,348
Unallocated corporate expenses (8)
(49,755)
(36,154)
(31,454)
Elimination of intersement profits
(218)
(332)
(118)
Total income before income taxes
90,194
58,798
47,053
Income attributable to noncontrolling interests
(3,756)
(2,022)
(1,025)
Total income before income taxes, net of
noncontrolling interests
86,438
$
56,776
$
46,028
$