Popeye's 2015 Annual Report Download - page 61
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Popeyes Louisiana Kitchen, Inc.
Consolidated Statements of Operations
For Fiscal Years 2015, 2014, and 2013
(In millions, except per share data)
2015 2014 2013
Revenues:
Sales by Company-operated restaurants $ 109.5 $ 97.2 $ 78.7
Franchise royalties and fees 144.0 131.3 121.9
Rent from franchised restaurants 5.5 7.1 5.4
Total revenues 259.0 235.6 206.0
Expenses:
Restaurant food, beverages and packaging 35.3 32.0 26.1
Restaurant employee, occupancy and other expenses 52.3 46.8 37.9
General and administrative expenses 84.3 78.9 73.4
Occupancy expenses - franchise restaurants 3.1 3.2 3.4
Depreciation and amortization 9.7 8.7 6.7
Other expenses (income), net — 1.2 0.3
Total expenses 184.7 170.8 147.8
Operating profit 74.3 64.8 58.2
Interest expense, net 3.7 3.0 3.7
Income before income taxes 70.6 61.8 54.5
Income tax expense 26.5 23.8 20.4
Net income $ 44.1 $ 38.0 $ 34.1
Earnings per common share, basic: $ 1.94 $ 1.63 $ 1.44
Earnings per common share, diluted: $ 1.91 $ 1.60 $ 1.41
Weighted-average shares outstanding:
Basic 22.7 23.3 23.6
Diluted 23.1 23.8 24.1
The accompanying notes are an integral part of these consolidated financial statements.
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