Panera Bread Financial Data (2023) (2)
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Panera Bread
Historical Financial Statements
Historical Balance Sheet
For Years Ending December 31 (in $ millions)
2013
2014
2015
2016
ASSETS
Current Assets
Cash & Equivalents
125.2
196.5
241.9
105.5
Accounts Receivable
33.0
36.6
38.2
53.5
Other Receivables
51.6
70.1
77.6
59.4
Investments
-
-
-
-
Inventory
21.9
22.8
22.5
23.8
Prepaid Expenses
43.1
51.6
59.5
69.2
Other Current Assets
27.9
28.6
28.7
-
Total Current Assets
302.7
406.2
468.3
311.4
Fixed Assets
Land
2.9
2.1
1.6
5.6
Buildings & Leasehold Improvements
687.6
792.8
780.7
820.1
Equipment
392.4
478.5
531.0
618.2
Furniture & Fixtures
176.5
197.2
188.7
204.6
Vehicles
-
-
-
-
Total Fixed Assets
1,259.3
1,470.6
1,502.0
1,648.5
Less: Accumulated Depreciation
(589.9)
(683.3)
(725.8)
(845.7)
Net Fixed Assets
669.4
787.3
776.2
802.8
Other Assets
Goodwill
123.0
120.8
121.8
122.4
Other Intangible Assets
79.8
70.9
63.9
54.8
Accumulated Amortization
-
-
-
-
Intangible Assets, Net
202.8
191.7
185.7
177.2
Other Assets
6.0
5.7
10.6
10.2
Total Other Assets
208.7
197.4
196.3
187.4
TOTAL ASSETS
1,180.9
1,390.9
1,440.8
1,301.6
Panera Bread
Historical Financial Statements
Historical Balance Sheet
For Years Ending December 31 (in $ millions)
2013
2014
2015
2016
LIABILITIES & EQUITY
Current Liabilities
Line of Credit
-
-
-
-
Accounts Payable
17.5
19.5
19.8
22.5
Other Payables
-
-
-
-
Accrued Liabilities
285.8
333.2
359.5
408.6
Notes Payable
-
-
17.2
17.2
Other Current Liabilities
-
-
2.9
-
Total Current Liabilities
303.3
352.7
399.4
448.3
Long-Term Liabilities
Long-Term Debt
-
100.0
389.0
410.6
Capital Leases
-
-
-
-
Notes Payable
-
-
-
-
Other Liabilities
177.6
202.0
154.7
154.3
Total Long-Term Liabilities
177.6
302.0
543.7
564.9
Total Liabilities
481.0
654.7
943.2
1,013.2
Stockholders' Equity
Common Equity
0.0
0.0
0.0
0.0
Additional Paid-in Capital
196.9
214.4
235.4
257.6
Retained Earnings
1,049.6
1,227.8
1,373.5
1,520.0
Treasury Stock
(546.6)
(706.1)
(1,111.6)
(1,488.8)
Total Stockholders' Equity
699.9
736.2
497.3
288.8
TOTAL LIABILITIES & EQUITY
1,180.9
1,390.9
1,440.5
1,302.0
Check
-
-
-
-
Tangible Assets
901.2
1,113.3
1,156.4
1,045.0
Tangible Net Worth
420.2
458.5
213.2
31.8
Total Debt
-
100.0
406.2
427.8
Panera Bread
Historical Financial Statements
Historical Income Statement
For Years Ending December 31 (in $ millions)
2013
2014
2015
2016
Total Revenues
2,385.0
2,529.2
2,681.6
2,795.4
Cost of Sales
1,837.6
1,982.4
2,135.5
2,205.4
Gross Profit
547.4
546.8
546.1
590.0
General & Administrative Expense
123.3
138.1
142.9
179.9
Other Expense
7.8
8.7
26.2
16.0
Depreciation & Amortization
106.5
124.8
135.4
154.4
Total Operating Expenses
237.7
271.6
304.5
350.2
Operating Income
309.8
275.2
241.6
239.8
Other Income / (Expense)
Other Income (Expense)
4.0
3.2
(1.2)
(1.4)
Interest Income (Expense)
(1.1)
(1.8)
(3.8)
(8.9)
Total Other Income / (Expense)
3.0
1.4
(5.0)
(10.3)
Earnings Before Taxes
312.7
276.6
236.6
229.5
Income Tax Expense
116.6
98.0
87.2
84.3
Net Income / (Loss)
196.2
178.6
149.3
145.2
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Panera Bread
Projected Cash Flows
For Fiscal Years Ending 12/31 (in $ millions)
(Actual)
(Forecast)
(Projected)
(Projected)
(Projected)
(Projected)
2016
2017
2018
2019
2020
2021
INCOME STATEMENT
Total Revenues
$2,795.4
$2,846.1
$3,083.1
$3,374.4
$3,886.9
$4,220.0
Growth YoY
1.8%
8.3%
9.4%
15.2%
8.6%
Cost of Sales
$2,205.4
$2,220.0
$2,404.8
$2,632.0
$3,031.8
$3,291.6
78.9%
78.0%
78.0%
78.0%
78.0%
78.0%
Gross Profit
$590.0
$626.1
$678.3
$742.4
$855.1
$928.4
Operating Expenses
$195.8
$196.0
$199.9
$203.9
$208.0
$212.2
Depreciation & Amortization
$154.4
$155.0
$155.0
$155.0
$155.0
$155.0
Total Operating Expenses
$350.2
$351.0
$354.9
$358.9
$363.0
$367.2
12.5%
12.3%
11.5%
10.6%
9.3%
8.7%
EBIT
$239.8
$275.1
$323.4
$383.4
$492.1
$561.2
Adjustments
$0.0
$0.0
$0.0
$0.0
$0.0
$0.0
EBIT (Adjusted)
$239.8
$275.1
$323.4
$383.4
$492.1
$561.2
8.6%
9.7%
10.5%
11.4%
12.7%
13.3%
Other Income (Expense)
($1.4)
$0.0
$0.0
$0.0
$0.0
$0.0
Interest Expense (Income)
$8.9
$12.8
$13.7
$14.8
$16.2
$18.7
Pre-Tax Income
$229.5
$262.3
$309.7
$368.7
$475.9
$542.6
Income Tax Expense
$84.3
$94.43
$111.49
$132.71
$171.33
$195.33
36.7%
36.0%
36.0%
36.0%
36.0%
36.0%
Net Income
$145.2
$167.9
$198.2
$235.9
$304.6
$347.3
Depreciation & Amortization
$154.4
$155.0
$155.0
$155.0
$155.0
$155.0
EBITDA
$394.1
$430.1
$478.4
$538.4
$647.1
$716.2
CASH FLOW
Capital Expenditures
$200
$211
$200
$196
$196
$193
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2015
2016
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$375
$450
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150
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2015
2016
2015
2016
Assets
Liabilities and Owners' Equity
Cash
Accounts receivable
Inventory
Net fixed assets
21,900 24,300 Common stock
$ 850 $
1,210
126 Accounts payable
1,370 Short-term notes payable
$ 1,080 $
970
500
0
4,350
4,610 Long-term debt
11,900 13,500
6,000 6,200
Retained earnings
Total assets
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$28,310 $30,406
9,736
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Cost of goods sold
Depreciation
Interest
Taxes
Net income
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18,470
6,132
744
1,824
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12,000
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252,567
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285,160
37,915
51,586
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84,996
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$ 132,705 $
76,877 $
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102,179
162,500
130,290
105,671
162,500
109,843
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2017
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61,710 Bonds payable
56,400Total liabilities
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Accounts receivable
Merchandise inventory
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Acc. depreciation
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32,180
73,125
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$327.795 $284.850 APIC
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10,200
48.750
66.000
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96,000
9,000
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$240,000
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- Total Net Fixed Assets Total Assets O 14.97 siven, O 16.05 O 9.63 Cash Accounts Receivable Inventory Click to open: O 12.59 Net Sales Less: Cost of Goods Sold Less: Depriciation Earnings before Interest and Taxes O 10.12 Less: Interest Paid Taxable income Less: Taxes Net Income Precision Tools 2012 Income Statement ($ in Millions) What is the times interest earned ratio for 2012? 2011 2060 3411 18776 24247 14160 38407 LE 36408 28225 1760 6423 510 5913 2070 3843 Precision Tools 2011 and 2012 Balance Sheets ($ in Millions) 2012 1003 Accounts Payable 4218 Long Term Debt 21908 Common Stock 27129 Retained Earnings 14080 41209 Total Liabilities and Equity 2011 7250 9800 15000 6357 38407 2012 8384 11500 17500 3825 41209 97arrow_forwardgeneral accountarrow_forwardAccounting questionarrow_forward
- 8. [Statement of Cash Flows and Cash Burn or Build] Salza Technology Corporation increased its sales from $375,000 in 2015 to $450,000 in 2016 as shown in the firm's income statements presented below. LeAnn Sands, chief executive officer and founder of the firm, expressed concern that the cash account and the firm's marketable securities declined substantially between 2015 and 2016. Salza's complete bal- ance sheets are also shown. Ms. Sands is seeking your assistance in the preparation of a statement of cash flows for Salza Technology. A. Prepare a statement of cash flows for 2016 for Salza Technology Corporation. B. Provide a brief description of what happened in terms of cash flows (both inflows and outflows) for Salza between 2015 and 2016. SALZA TECHNOLOGY CORPORATION ANNUAL INCOME STATEMENTS FOR YEAR ENDED DECEMBER 31 (IN $ THOUSANDS) 2015 2016 Net sales $375 $450 Less: Cost of goods sold Gross prafit Less: Operating expenses Less: Depreciation -225 -270 150 180 -46 -46 -30 Less:…arrow_forwardprepeare cash flow statememtarrow_forwardBalance Sheets as of December 31, 2015 and 2016 2015 2016 2015 2016 Assets Liabilities and Owners' Equity Cash Accounts receivable Inventory Net fixed assets 21,900 24,300 Common stock $ 850 $ 1,210 126 Accounts payable 1,370 Short-term notes payable $ 1,080 $ 970 500 0 4,350 4,610 Long-term debt 11,900 13,500 6,000 6,200 Retained earnings Total assets $28,310 $30,406 Total liabilities and owners' equity 8,830 $28,310 $30,406 9,736 2016 Income Statement Sales Cost of goods sold Depreciation Interest Taxes Net income $30,710 18,470 6,132 744 1,824 $ 3,540 What are the values of the three components of the DuPont identity? Use ending balance sheet values. Multiple Choicearrow_forward
- Maligalig Company Comparative Statement of Financial Position December 31 (in Thousand Dollars) 2017 2016 2015 ASSETS Current Assets Cash and Cash Equivalents 91,100 12,628 11,254 Short term Investments 193,230 12,000 12,000 Trade Receivables, net of $30,000 allowance 485,000 529,949 510,435 Note Receivable – related party 12,325 18,941 21,543 Other Receivables 80,532 Inventory 212,515 252,567 252,567 Prepaid Insurance 7,500 7,500 7,500 Total Current Assets 1,001,670 914,117 815,299 Non-Current Asset Property, Plant and Equipment 209,330 209,330 209,330 Less Accumulated Depreciation 87,260 75,332 64,034…arrow_forwardCurrent Assets Cash A/R Inventory Total Net Plant & Equip Total Assets Tomson Corporation 2013 and 2014 Statement of Financial Position Assets 2013 $ 8,436 21,530 38.760 $ 68,726 $ 226.706 $295,432 2014 $ 10,157 23,406 42.650 $ 76,213 Current Liabilities A/P Notes Payable Total 1. The current ratio for each year 2. The quick ratio for each year Long-term Debt Owner's Equity Common Stock & Paid-in Surplus Retained Earnings $248,306 Total Total Liabilities & $324,519 Owners Equity Liabilities 3. The cash ratio for each year 4. The NWC to total assets ratio for each year 2013 5. The debt-equity ratio and the equity multiplier for each year 6. The total debt ratio and the long-term debt ratio for each year Round all answers to 2 decimal places. $ 43,050 18.384 $61.434 $ 25.000 $ 40,000 168.998 $ 208,998 $ 295,432 2014 1. Prepare: The 2014 combined common-size, common-base year statement of financial position for Tomson. Round your intermediate calculations to 2 decimal places…arrow_forwardGeneral Accounting questionarrow_forward
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