Papa Johns 2012 Annual Report Download - page 99

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93
22. Quarterly Data - Unaudited, in Thousands, except Per Share Data (continued)
As
Previously
Reported
As
Restated
As
Previously
Reported
As
Restated
Condensed consolidated balance sheet
Noncurrent deferred income tax liabilities 7,110$ 4,710$ 7,110$ 4,710$
Other long-term liabilities 11,542 22,545 11,542 22,545
Redeemable noncontrolling interests - 3,558 - 3,558
Retained earnings 282,826 278,910 282,826 278,910
Noncontrolling interests in subsidiaries 8,245 - 8,245 -
Total stockholders' equity 212,554 200,393 212,554 200,393
Condensed consolidated statements of comprehensive income
Interest expense 282$ 804$ 1,183$ 2,522$
Income before income taxes 16,846 16,324 62,693 61,354
Income tax expense 4,906 4,707 20,151 19,642
Net income, including noncontrolling interests 11,940 11,617 42,542 41,712
Net income, net of noncontrolling interests 11,123 10,800 39,674 38,844
Comprehensive income 11,687 11,364 43,048 42,218
Basic earnings per common share 0.45 0.43 1.57 1.54
Earnings per common share - assuming dilution 0.44 0.43 1.55 1.52
Consolidated statement of cash flows
Net income, including noncontrolling interests 42,542$ 41,712$
Deferred income taxes 5,219 4,711
Other 1,272 2,611
Net cash provided by operating activities 87,216 87,216
September 25, 2011
September 25, 2011
Three Months Ended
Nine Months Ended
As of and For The
As of and For The
Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure
None.
Item 9A. Controls and Procedures
(a) Evaluation of Disclosure Controls and Procedures
As of the end of the period covered by this report, we carried out an evaluation, under the supervision and
with the participation of our management, including our CEO and CFO, of the effectiveness of our
disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) of the Securities
Exchange Act of 1934, as amended).
A control system, no matter how well designed and operated, can provide only reasonable, not absolute,
assurance that the control system’s objectives will be met. Because of the inherent limitations in all
control systems, no evaluation of controls can provide absolute assurance that all control issues have been
detected. The design of any system of controls is based in part on certain assumptions about the
likelihood of future events, and there can be no assurance that any design will succeed in achieving its
stated goals under potential future conditions, regardless of how remote.