Papa Johns 2012 Annual Report Download - page 62

Download and view the complete annual report

Please find page 62 of the 2012 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 109

  • 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

56
Papa John’s International, Inc. and Subsidiaries
Consolidated Balance Sheets
(In thousands, except per share amounts)
December 30, December 25,
2012 2011
(As Restated)
Assets
Current assets:
Cash and cash equivalents 16,396$ 18,942$
Accounts receivable (less allowance for doubtful
accounts of $3,057 in 2012 and $3,034 in 2011) 43,585 27,487
Accounts receivable - affiliates (no allowance for doubtful
accounts in 2012 and 2011) 1,062 682
Notes receivable (no allowance for doubtful accounts in 2012 and 2011) 4,577 4,221
Inventories 22,178 20,091
Deferred income taxes 10,279 7,636
Prepaid expenses 12,782 10,210
Other current assets 7,767 5,555
Total current assets 118,626 94,824
Net property and equipment 196,661 181,910
Notes receivable, less current portion (less allowance for doubtful
accounts of $5,028 in 2012 and $5,905 in 2011) 12,536 11,502
Goodwill 78,958 75,085
Other assets 31,627 27,061
Total assets 438,408$ 390,382$
Liabilities and stockholders’ equity
Current liabilities:
Accounts payable 32,624$ 32,966$
Income and other taxes payable 10,429 3,969
Accrued expenses and other current liabilities 60,528 44,198
Total current liabilities 103,581 81,133
Deferred revenue 7,329 4,780
Long-term debt 88,258 51,489
Deferred income taxes 10,672 6,692
Other long-term liabilities 40,674 36,676
Total liabilities 250,514 180,770
Redeemable noncontrolling interests 6,380 3,965
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 37,088 in 2012 and 36,656 in 2011) 371 367
Additional paid-in capital 280,905 262,456
Accumulated other comprehensive income 1,824 1,849
Retained earnings 356,461 294,801
Treasury stock (14,847 shares in 2012 and 12,637 shares in 2011, at cost) (458,047) (353,826)
Total stockholders' equity 181,514 205,647
Total liabilities, redeemable noncontrolling interests and stockholders' equity 438,408$ 390,382$
See accompanying notes.
Years Ended