CASE 13 Panera Bread Company in IT1 Selected Consolidated Financial Data for Panera Bread, 2011-2015 HIB(in thousands, except for per-share amounts) 20% C-145 Data 2014 $2.358,794 $2.230,370 $2.108.908 $1,879,280 $1,592.,951 Franchise royalties and fees Fresh dough and other product sales 138,563 123,686 112,641 102,076ss 92,793 to franchisees 184.223 175,139 163,453 148,701 2.681.580 2,529,195 2,385.002 2,.130,057 1,822.032 Food and paper products 715,502 669,860 625,622 552.580 470.398 754,646 685,576 625,457 559,446 484,014 169,998 334,6353148 159,794 148,816 130,793 15,290 other operating expenses Total bakery-caf expenses Fresh dough and other product cost of sales 314,879295,539 256,029216,237 1,974,781 1,830,109 1,695,434 1498848 1,.285,939 to franchisees Depreciation and amortization General and administrative expenses Pre-opening expenses 160.706 152,267 142.160 131,006 116,267 135,398 124,109 106,523 90,939 142.904 138,060 123,335 117,932 113,083 79.899 9.089 707 7,794 8,462 Total costs and expenses Operating proft Interest expense Other (income) expense, net Income taxes Less net income (loss) attributable to 2.439,986 2,253,252 2.075.246 1,847,187 1,601,773 241,594 275,943 309,756 282,870 220,259 822 (466) 87.247 98,001 116,551 109,548 83,951 3,830 1,192 (3,175) (4,017) (1.208) 1,824 1,053 non-controlling interest Net income to shareholders Earnings per share $ 149,325 $ 179,293 $ 196,169 $ 173,448 $ 135,952 Basic $5.81 $6.67 $6.85 $5.94 $4.59 5.79 6.64 6.81 5.89 4.55 Weighted average shares outstanding Basic Diluted 25,685 26,881 28,629 29,217 29,601 25,788 26,999 28,794 29,455 29,903 Balance Sheet Data Cash and cash equivalents Current assets Total assets Current liabilities Total liabilities Stockholders' equity $ 241,886 $ 196,493 $ 125,245 $ 297,141 $ 222,640 502,789 406,166 302,716 478,842 353,119 1,475,318 1,390,686 1,180,862 1.268,163 1,027.322 399,443 352,712 303,325 277,540 238,334 654,718 654,718 177,645 168,704 372.246 497,300 736,184 699,892 821,919 655.076 Cash Flow Data s 318,045 $ 335,079 $ 348,417 $ 289,456 236,889 (165,415) (211,317) (188,307) (195,741) (152.194 Net cash provided by operating activities Net cash used in investing activities Net cash (used in) provided by financing activities (107.237) (52.514) (332,006) (19,214) (91,354 Wet (decrease) increase in cash and cash equivalents 45,393 71,248 (171,896) 74,501 (665 2015 10-K report, pp. 43-46: 2014 10-K report, pp. 41-43; 2013 10-K report, pp. 41-43,2011 10-K report, pp. 41-43 CASE 13 Panera Bread Company in IT1 Selected Consolidated Financial Data for Panera Bread, 2011-2015 HIB(in thousands, except for per-share amounts) 20% C-145 Data 2014 $2.358,794 $2.230,370 $2.108.908 $1,879,280 $1,592.,951 Franchise royalties and fees Fresh dough and other product sales 138,563 123,686 112,641 102,076ss 92,793 to franchisees 184.223 175,139 163,453 148,701 2.681.580 2,529,195 2,385.002 2,.130,057 1,822.032 Food and paper products 715,502 669,860 625,622 552.580 470.398 754,646 685,576 625,457 559,446 484,014 169,998 334,6353148 159,794 148,816 130,793 15,290 other operating expenses Total bakery-caf expenses Fresh dough and other product cost of sales 314,879295,539 256,029216,237 1,974,781 1,830,109 1,695,434 1498848 1,.285,939 to franchisees Depreciation and amortization General and administrative expenses Pre-opening expenses 160.706 152,267 142.160 131,006 116,267 135,398 124,109 106,523 90,939 142.904 138,060 123,335 117,932 113,083 79.899 9.089 707 7,794 8,462 Total costs and expenses Operating proft Interest expense Other (income) expense, net Income taxes Less net income (loss) attributable to 2.439,986 2,253,252 2.075.246 1,847,187 1,601,773 241,594 275,943 309,756 282,870 220,259 822 (466) 87.247 98,001 116,551 109,548 83,951 3,830 1,192 (3,175) (4,017) (1.208) 1,824 1,053 non-controlling interest Net income to shareholders Earnings per share $ 149,325 $ 179,293 $ 196,169 $ 173,448 $ 135,952 Basic $5.81 $6.67 $6.85 $5.94 $4.59 5.79 6.64 6.81 5.89 4.55 Weighted average shares outstanding Basic Diluted 25,685 26,881 28,629 29,217 29,601 25,788 26,999 28,794 29,455 29,903 Balance Sheet Data Cash and cash equivalents Current assets Total assets Current liabilities Total liabilities Stockholders' equity $ 241,886 $ 196,493 $ 125,245 $ 297,141 $ 222,640 502,789 406,166 302,716 478,842 353,119 1,475,318 1,390,686 1,180,862 1.268,163 1,027.322 399,443 352,712 303,325 277,540 238,334 654,718 654,718 177,645 168,704 372.246 497,300 736,184 699,892 821,919 655.076 Cash Flow Data s 318,045 $ 335,079 $ 348,417 $ 289,456 236,889 (165,415) (211,317) (188,307) (195,741) (152.194 Net cash provided by operating activities Net cash used in investing activities Net cash (used in) provided by financing activities (107.237) (52.514) (332,006) (19,214) (91,354 Wet (decrease) increase in cash and cash equivalents 45,393 71,248 (171,896) 74,501 (665 2015 10-K report, pp. 43-46: 2014 10-K report, pp. 41-43; 2013 10-K report, pp. 41-43,2011 10-K report, pp. 41-43