Papa Johns 2012 Annual Report Download - page 94

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88
22. Quarterly Data - Unaudited, in Thousands, except Per Share Data (continued)
All quarterly information above except for the fourth quarter of 2012 is presented in 13-week periods.
The fourth quarter of 2012 includes a 14-week period, which increased operating income approximately
$4.1 million, or $0.11 per diluted share. The Incentive Contribution reduced first quarter 2012 operating
income by approximately $3.7 million, or $0.10 per diluted share, and increased each of the second, third
and fourth quarters of 2012 by approximately $250,000. See “Items Impacting Comparability; Non-
GAAP Measures” of “Item 7. Management’s Discussion and Analysis of Financial Condition and Results
of Operations” for additional information.
Quarterly earnings per share on a full-year basis may not agree to the consolidated statements of income
due to rounding.
Restated Interim Financial Information
The following tables present amounts previously reported and restated as a result of the errors associated
with the accounting for our joint venture arrangements (in thousands). See Notes 3 and 4 for additional
information.
As
Previously
Reported
As Restated
Condensed consolidated balance sheet
Noncurrent deferred income tax liabilities 7,264$ 4,954$
Other long-term liabilities 23,795 34,992
Redeemable noncontrolling interests - 4,777
Retained earnings 315,551 311,782
Noncontrolling interests in subsidiaries 9,895 -
Total stockholders' equity 227,835 214,171
Condensed consolidated statement of comprehensive income
Interest expense (income) 288$ (94)$
Income before income taxes 27,138 27,520
Income tax expense 9,068 9,213
Net income, including noncontrolling interests 18,070 18,307
Net income, net of noncontrolling interests 16,744 16,981
Comprehensive income 18,281 18,518
Basic earnings per common share 0.70 0.71
Earnings per common share - assuming dilution 0.69 0.69
Consolidated statement of cash flows
Net income, including noncontrolling interests 18,070$ 18,307$
Deferred income taxes (1,057) (912)
Other 678 296
Net cash provided by operating activities 44,093 44,093
March 25, 2012
Three Months Ended
As of and For The