Sonic 2012 Annual Report Download - page 17

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The following table sets forth selected financial data regarding the company’s financial condition and operating results.
One should read the following information in conjunction with “Management’s Discussion and Analysis of Financial Condition
and Results of Operations” below and the company’s Consolidated Financial Statements included elsewhere in this report.
Year Ended August 31,
(In thousands, except per share data) 2012 2011 2010 2009 2008
Income Statement Data:
Company Drive-In sales $ 404,443 $ 410,820 $ 414,369 $ 567,436 $ 671,151
Franchise Drive-Ins:
Franchise royalties 125,989 124,127 122,385 126,706 121,944
Franchise fees 2,024 1,744 2,752 5,006 5,167
Lease revenue 6,575 6,023 6,879 3,985 1,519
Other 4,699 3,237 4,541 3,148 1,978
Total revenues 543,730 545,951 550,926 706,281 801,759
Cost of Company Drive-In sales 347,470 356,236 354,659 464,876 526,180
Selling, general and administrative 65,173 64,943 66,847 63,358 61,179
Depreciation and amortization 41,914 41,225 42,615 48,064 50,653
Provision for impairment of long-lived assets 764 824 15,161 11,163 571
Total expenses 455,321 463,228 479,282 587,461 638,583
Other operating income (expense), net 531 585 (763) 12,508 2,954
Income from operations 88,940 83,308 70,881 131,328 166,130
Interest expense, net(1) 30,978 54,929 36,073 35,657 47,927
Income before income taxes $ 57,962 $ 28,379 $ 34,808 $ 95,671 $ 118,203
Net income-including noncontrolling interests 36,085 19,225 25,839 64,793 82,241
Net income-noncontrolling interests –– 4,630 15,351 21,922
Net income-attributable to Sonic Corp. $ 36,085 $ 19,225 $ 21,209 $ 49,442 $ 60,319
Income per share:
Basic $ 0.60 $ 0.31 $ 0.35 $ 0.81 $ 1.00
Diluted $ 0.60 $ 0.31 $ 0.34 $ 0.81 $ 0.97
Weighted average shares used in calculation:
Basic 60,078 61,781 61,319 60,761 60,403
Diluted 60,172 61,943 61,576 61,238 62,270
Balance Sheet Data:
Working capital (deficit) $ 26,635 $ 22,178 $ 15,320 $ 84,813 $ (13,115)
Property, equipment and capital leases, net 443,008 464,875 489,264 523,938 586,245
Total assets 680,760 679,742 737,320 849,041 836,312
Obligations under capital leases
(including current portion) 31,676 34,063 36,256 39,461 37,385
Long-term debt (including current portion) 481,793 497,013 591,621 699,550 759,422
Stockholders’ equity (deficit) 59,247 51,696 22,566 (2,352) (61,020)
Cash dividends declared per common share –––––
(1) Includes net loss (gain) from early extinguishment of debt of $23.0 million, $0.3 million and $(6.4) million for fiscal years
2011, 2010 and 2009, respectively.
Selected Financial Data
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