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33
related hedged items are accounted
,
and how derivative instruments and related hedged items affect an
entity’s financial position, results of operations and cash flows. See Note 7 for additional information.
Subsequent Events
The Subsequent Events topic of the ASC requires public companies to evaluate subsequent events
through the date the financial statements are issued. Accordingly, we evaluated for subsequent events
occurring after December 27, 2009 (our financial statement date) through February 23, 2010 (the date
this report was filed). We determined no subsequent events disclosures were required.
Percentage Relationships and Restaurant Data and Unit Progression
The following tables set forth the percentage relationship to total revenues, unless otherwise indicated, of
certain income statement data, and certain restaurant data for the years indicated:
Year Ended (1)
Dec. 27, Dec. 28, Dec. 30,
2009 2008 2007
Income Statement Data: 52 weeks 52 weeks 52 weeks
Domestic revenues:
Company-owned restaurant sales 45.6% 47.1% 47.4%
Variable interest entities restaurant sales 3.4 0.7 0.7
Franchise royalties 5.5 5.3 5.2
Franchise and development fees
0.0
0.2
0.4
Commissary sales 36.8 37.9 37.5
Other sales 4.9 5.4 5.8
International revenues:
Royalties and franchise and development fees 1.2 1.1 1.0
Restaurant and commissary sales 2.6 2.3 2.0
Total revenues 100.0 100.0 100.0
Costs and expenses:
Domestic Company-owned restaurant cost of sales (2) 20.0 22.6 22.4
Domestic Company-owned restaurant operating expenses (2) 58.2 58.9 59.3
Variable interest entities restaurant expenses (3) 78.6 88.4 84.4
Domestic commissary and other expenses (4) 90.8 90.5 89.1
Loss (income) from the franchise cheese purchasing
program, net of minority interest (5) (1.6) 0.6 2.1
International operating expenses (6) 86.3 88.3 89.7
General and administrative expenses 10.2 8.8 9.5
Other general expenses 1.5 1.7 0.6
Depreciation and amortization 3.0 2.9 3.0
Total costs and expenses 91.4 94.2 95.0
Operating income 8.6 5.8 5.0
Net interest expense (0.5) (0.6) (0.6)
Income before income taxes 8.1 5.2 4.4
Income tax expense 2.6 1.7 1.2
Net income, including noncontrolling interests 5.5 3.5 3.2
Less: income attributable to noncontrolling interests (0.3) (0.2) (0.1)
Net income, net of noncontrolling interests
5.2%
3.3%
3.1%