| Cash Flow for Papa John's International Inc. (PZZA) | | | | | | | Cash Flow | in Thousands of Dollars | | | 12/2007 | 12/2006 | 12/2005 | 12/2004 | 12/2003 | | | Net Income | 32,735 | 63,375 | 44,268 | 23,221 | 33,563 | | Depreciation & Amortization | 31,866 | 27,208 | 28,750 | 31,159 | 31,059 | | Deferred Income Taxes | (10,779) | 3,191 | 4,385 | (16,280) | 1,037 | | Operating Losses | 7,371 | 4,898 | 12,002 | 7,511 | 11,735 | | Extraordinary Losses | - | - | - | - | - | | | Decrease in Receivables | (183) | (6,020) | (231) | (10,752) | (6,258) | | Decrease in Inventories | 7,915 | (583) | (3,811) | (5,962) | 252 | | Decrease in Other Current Assets | 2,468 | (630) | (2,971) | - | - | | Increase in Payables | 1,893 | (2,168) | (5,860) | 6,082 | 3,479 | | Increase in Other Current Liabilities | (3,199) | 3,929 | 2,870 | 10,845 | (1,583) | | Decrease in Other Working Capital | (8,370) | (6,905) | - | (795) | 9,570 | | Other Non-Cash Items | 3,276 | 1,429 | - | - | - | | Net Cash from Continuing Operations | 61,591 | 85,576 | 82,117 | 41,782 | 84,841 | | Net Cash from Discontinued Operations | - | 25 | 2,168 | - | - | | Cash from Operating Activities | 61,591 | 85,601 | 84,285 | 41,782 | 84,841 | | | | Sale of Property, Plant, Equipment | - | 286 | 61 | 3,726 | - | | Sale of Short Term Investments | - | 6,983 | 21,880 | 5,014 | 975 | | | Purchase of Property, Plant, Equipment | (31,148) | (39,352) | (17,546) | (20,950) | (16,315) | | Acquisitions | (24,983) | (30,643) | (4,475) | - | (150) | | Purchase of Short Term Investments | - | (2,014) | (8,565) | (6,049) | (738) | | Other Investment Changes, Net | (252) | 3,158 | 1,559 | 496 | 2,142 | | Cash from Investing Activities | (55,323) | (53,562) | (7,086) | (17,763) | (14,086) | | | Issuance of Debt | 45,675 | 47,500 | - | 31,532 | - | | Issuance of Capital Stock | 12,219 | 15,214 | 43,096 | 18,186 | 6,619 | | | Repayment of Debt | - | (5,575) | (37,475) | (253) | (78,835) | | Repurchase of Capital Stock | (72,871) | (106,292) | (75,325) | (68,911) | (5,916) | | Payment of Cash Dividends | - | - | - | - | - | | Other Financing Charges, Net | 4,360 | 7,826 | 300 | 2,469 | 316 | | Cash from Financing Activities | (10,617) | (41,327) | (69,404) | (16,977) | (77,816) | | | | Effect of Exchange Rate Changes | 247 | 169 | (395) | 331 | 387 | | Net Change in Cash | (4,102) | (9,119) | 7,400 | 7,373 | (6,674) | | | Cash at Beginning of Year | 12,979 | 22,098 | 14,698 | 7,325 | 13,745 | | Cash at End of Period | 8,877 | 12,979 | 22,098 | 14,698 | 7,071 | | | |
