Papa Johns 2009 Annual Report Download - page 72

Download and view the complete annual report

Please find page 72 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

65
Papa John’s International, Inc. and Subsidiaries
Consolidated Balance Sheets
December 27, December 28,
(In thousands, except per share amounts) 2009 2008
Assets
Current assets:
Cash and cash equivalents 28,219$ 10,987$
Accounts receivable (less allowance for doubtful
accounts of $2,791 in 2009 and $3,003 in 2008) 21,496 22,921
Accounts receivable - affiliates (no allowance for doubtful
accounts in 2009 and 2008) 648 854
Inventories 15,767 16,872
Prepaid expenses 9,113 9,797
Other current assets 3,748 5,275
Assets held for sale - 1,540
Deferred income taxes 8,408 7,102
Total current assets 87,399 75,348
Investments 1,382 530
Net property and equipment 194,242 189,992
Notes receivable (less allowance for doubtful
accounts of $6,852 in 2009 and $5,445 in 2008) 8,643 7,594
Deferred income taxes 6,804 17,518
Goodwill 76,475 76,914
Other assets 22,150 18,572
Total assets
397,095
$
386,468
$
Liabilities and stockholders’ equity
Current liabilities:
Accounts payable 28,675$ 29,148$
Income and other taxes 5,854 9,685
Accrued expenses 54,241 54,220
Current portion of debt - 7,075
Total current liabilities 88,770 100,128
Unearned franchise and development fees 5,668 5,916
Long-term debt, net of current portion 99,050 123,579
Other long-term liabilities 18,570 18,607
Stockholders’ equity:
Preferred stock ($.01 par value per share; authorized 5,000 shares,
no shares issued) - -
Common stock ($.01 par value per share; authorized 50,000 shares,
issued 35,738 in 2009 and 35,126 in 2008) 358 352
Additional paid-in capital 231,720 216,553
Accumulated other comprehensive loss (1,084) (3,818)
Retained earnings 191,212 133,759
Treasury stock (8,808 shares in 2009 and 7,489 shares in 2008, at cost) (245,337) (216,860)
Total stockholders’ equity, net of noncontrolling interests 176,869 129,986
Noncontrolling interests in subsidiaries 8,168 8,252
Total stockholders' equity 185,037 138,238
Total liabilities and stockholders’ equity
397,095
$
386,468
$
See accompanying notes.