2021 Q4 Form 10-K Financial Statement

#000155837022001836 Filed on February 24, 2022

View on sec.gov

Income Statement

Concept 2021 Q4 2021 2020 Q4
Revenue $528.9M $2.068B $469.8M
YoY Change 12.57% 14.07% 12.53%
Cost Of Revenue $366.0M $1.413B $330.2M
YoY Change 10.85% 11.36% 13.24%
Gross Profit $162.9M $655.6M $139.6M
YoY Change 16.67% 20.41% 10.88%
Gross Profit Margin 30.79% 31.7% 29.71%
Selling, General & Admin $50.76M $274.0M $55.60M
YoY Change -8.71% 4.99% -20.68%
% of Gross Profit 31.16% 41.79% 39.83%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $11.99M $48.82M $12.30M
YoY Change -2.55% -1.79% 0.82%
% of Gross Profit 7.36% 7.45% 8.81%
Operating Expenses $121.0M $274.0M $119.9M
YoY Change 0.89% 4.99% -6.98%
Operating Profit $41.90M $168.2M $19.70M
YoY Change 112.69% 86.41% -15022.73%
Interest Expense -$6.018M $19.21M -$3.700M
YoY Change 62.65% 12.82% -21.28%
% of Operating Profit -14.36% 11.42% -18.78%
Other Income/Expense, Net
YoY Change
Pretax Income $32.15M $115.2M $16.00M
YoY Change 100.92% 137.0% -433.33%
Income Tax $6.606M $25.99M $2.800M
% Of Pretax Income 20.55% 22.56% 17.5%
Net Earnings $24.62M $120.0M $13.17M
YoY Change 87.01% 107.17% -714.71%
Net Earnings / Revenue 4.66% 5.8% 2.8%
Basic Earnings Per Share $0.12 $0.29
Diluted Earnings Per Share $656.8K $0.12 $0.28
COMMON SHARES
Basic Shares Outstanding 36.36M 35.01M 32.95M
Diluted Shares Outstanding 35.34M

Balance Sheet

Concept 2021 Q4 2021 2020 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $70.61M $70.61M $130.2M
YoY Change -45.77% -45.77% 366.67%
Cash & Equivalents $70.61M $70.61M $130.2M
Short-Term Investments
Other Short-Term Assets $46.31M $46.31M $43.20M
YoY Change 7.2% 7.2% 29.34%
Inventory $34.98M $34.98M $30.27M
Prepaid Expenses
Receivables $81.37M $81.37M $90.14M
Other Receivables $21.74M $21.74M $12.60M
Total Short-Term Assets $255.0M $255.0M $306.4M
YoY Change -16.77% -16.77% 68.78%
LONG-TERM ASSETS
Property, Plant & Equipment $223.9M $421.0M $200.9M
YoY Change 11.43% 15.1% -5.12%
Goodwill $80.63M $80.79M
YoY Change -0.2% 0.56%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $88.38M $93.54M $72.39M
YoY Change 22.1% 12.43% 12.0%
Total Long-Term Assets $630.7M $630.7M $566.4M
YoY Change 11.36% 11.35% 3.13%
TOTAL ASSETS
Total Short-Term Assets $255.0M $255.0M $306.4M
Total Long-Term Assets $630.7M $630.7M $566.4M
Total Assets $885.7M $885.7M $872.8M
YoY Change 1.48% 1.48% 19.44%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $28.09M $28.09M $37.37M
YoY Change -24.83% -24.89% 28.24%
Accrued Expenses $212.7M $119.3M $191.1M
YoY Change 11.28% -0.12% 38.88%
Deferred Revenue $21.70M $19.59M
YoY Change 10.77% 10.85%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $4.977M $4.977M $20.00M
YoY Change -75.12% -78.82% 0.0%
Total Short-Term Liabilities $287.4M $287.4M $288.9M
YoY Change -0.5% -0.51% 38.92%
LONG-TERM LIABILITIES
Long-Term Debt $480.7M $497.3M $328.3M
YoY Change 46.43% 45.5% -5.47%
Other Long-Term Liabilities $93.15M $267.7M $111.4M
YoY Change -16.35% 7.2% 31.13%
Total Long-Term Liabilities $573.9M $765.0M $439.7M
YoY Change 30.53% 29.33% 1.72%
TOTAL LIABILITIES
Total Short-Term Liabilities $287.4M $287.4M $288.9M
Total Long-Term Liabilities $573.9M $765.0M $439.7M
Total Liabilities $1.053B $1.073B $881.3M
YoY Change 19.44% 18.87% 11.5%
SHAREHOLDERS EQUITY
Retained Earnings $183.2M $219.2M
YoY Change -16.43% 6.54%
Common Stock $490.0K $453.0K
YoY Change 8.17% 1.34%
Preferred Stock
YoY Change
Treasury Stock (at cost) $806.5M $741.7M
YoY Change 8.73% -0.75%
Treasury Stock Shares $13.21M $12.74M
Shareholders Equity -$187.7M -$187.7M -$282.2M
YoY Change
Total Liabilities & Shareholders Equity $885.7M $885.7M $872.8M
YoY Change 1.48% 1.48% 19.44%

Cashflow Statement

Concept 2021 Q4 2021 2020 Q4
OPERATING ACTIVITIES
Net Income $24.62M $120.0M $13.17M
YoY Change 87.01% 107.17% -714.71%
Depreciation, Depletion And Amortization $11.99M $48.82M $12.30M
YoY Change -2.55% -1.79% 0.82%
Cash From Operating Activities -$8.949M $184.7M $17.90M
YoY Change -149.99% -0.95% 52.99%
INVESTING ACTIVITIES
Capital Expenditures -$27.23M $68.56M -$11.40M
YoY Change 138.87% 92.3% 11.76%
Acquisitions $699.0K
YoY Change
Other Investing Activities $4.910M -$3.323M -$1.100M
YoY Change -546.36% 20668.75% -164.71%
Cash From Investing Activities -$22.32M -$63.51M -$12.50M
YoY Change 78.57% 54.64% 47.06%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $72.50M
YoY Change 2584.15%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -3.468M -180.5M -16.10M
YoY Change -78.46% 315.37% 312.82%
NET CHANGE
Cash From Operating Activities -8.949M 184.7M 17.90M
Cash From Investing Activities -22.32M -63.51M -12.50M
Cash From Financing Activities -3.468M -180.5M -16.10M
Net Change In Cash -34.74M -59.59M -10.70M
YoY Change 224.65% -158.26% 1428.57%
FREE CASH FLOW
Cash From Operating Activities -$8.949M $184.7M $17.90M
Capital Expenditures -$27.23M $68.56M -$11.40M
Free Cash Flow $18.28M $116.1M $29.30M
YoY Change -37.6% -22.99% 33.79%

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CY2021 us-gaap Nature Of Operations
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<p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><b style="font-weight:bold;white-space:pre-wrap;">1. Description of Business</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">Papa John’s International, Inc. (referred to as the “Company,” “Papa John’s” or in the first person notations of “we,” “us” and “our”), operates and franchises pizza delivery and carryout restaurants under the trademark “Papa John’s,” in 50 countries and territories as of December 26, 2021. Our revenues are derived from retail sales of pizza and other food and beverage products to the general public by Company-owned restaurants, franchise royalties and sales of franchise and development rights, printing and promotional items and information systems equipment, and software and related services. We generated revenues from the operation of our Quality Control Centers (“QC Centers”) which supply pizza sauce, dough, food products, paper products, smallwares and cleaning supplies to restaurants. We also derived revenue from contributions received by our national marketing funds.</p>
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50
CY2021 us-gaap Fiscal Period
FiscalPeriod
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><i style="font-style:italic;">Fiscal Year</i></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><span style="font-size:10pt;">Our fiscal year ends on the last Sunday in December of each year. All fiscal years presented consist of </span><span style="font-size:10pt;">52</span><span style="font-size:10pt;"> weeks.</span></p>
CY2019 us-gaap Fiscal Period Duration
FiscalPeriodDuration
P364D
CY2020 us-gaap Fiscal Period Duration
FiscalPeriodDuration
P364D
CY2021 us-gaap Fiscal Period Duration
FiscalPeriodDuration
P364D
CY2021 us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><i style="font-style:italic;">Use of Estimates</i></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">The preparation of Consolidated Financial Statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the amounts reported in the Consolidated Financial Statements and accompanying notes. Significant items that are subject to such estimates and assumptions include the allowance for credit losses on accounts and notes receivable, intangible assets, contract assets and contract liabilities including the customer loyalty program obligation, right-of-use assets and lease liabilities, gift card breakage, insurance reserves and tax reserves. Although management bases its estimates on historical experience and assumptions that are believed to be reasonable under the circumstances, actual results could significantly differ from these estimates.</p>
CY2021 pzza Franchisee Royalty Fee Percent
FranchiseeRoyaltyFeePercent
0.05
CY2021 pzza Franchisee Royalty Fee Percent
FranchiseeRoyaltyFeePercent
0.05
CY2021 pzza Term Of Franchise Agreement
TermOfFranchiseAgreement
P10Y
CY2021 pzza Term Of Franchise Agreement
TermOfFranchiseAgreement
P10Y
CY2021Q4 pzza Percentage Of Business Units Franchised
PercentageOfBusinessUnitsFranchised
0.80
CY2021 us-gaap Marketing Expense
MarketingExpense
61700000
CY2020 us-gaap Marketing Expense
MarketingExpense
56700000
CY2019 us-gaap Marketing Expense
MarketingExpense
54300000
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1
P3Y
CY2021 us-gaap Interest And Fee Income Loans And Leases
InterestAndFeeIncomeLoansAndLeases
1900000
CY2020 us-gaap Interest And Fee Income Loans And Leases
InterestAndFeeIncomeLoansAndLeases
2100000
CY2019 us-gaap Interest And Fee Income Loans And Leases
InterestAndFeeIncomeLoansAndLeases
800000
CY2021 us-gaap Depreciation
Depreciation
43000000.0
CY2020 us-gaap Depreciation
Depreciation
46600000
CY2019 us-gaap Depreciation
Depreciation
45900000
CY2021 pzza Maximum Amortization Period Of Deferred Costs
MaximumAmortizationPeriodOfDeferredCosts
P5Y
CY2021Q4 us-gaap Deferred Costs
DeferredCosts
4100000
CY2020Q4 us-gaap Deferred Costs
DeferredCosts
3300000
CY2019Q4 us-gaap Deferred Costs
DeferredCosts
3500000
CY2020Q4 pzza Unamortized Systems Development Costs
UnamortizedSystemsDevelopmentCosts
10500000
CY2021Q4 pzza Unamortized Systems Development Costs
UnamortizedSystemsDevelopmentCosts
10500000
CY2021Q4 pzza Employee Insurance Retention Limit Per Occurrence
EmployeeInsuranceRetentionLimitPerOccurrence
1000000.0
CY2021Q4 us-gaap Self Insurance Reserve
SelfInsuranceReserve
88100000
CY2020Q4 us-gaap Self Insurance Reserve
SelfInsuranceReserve
82000000.0
CY2021Q4 us-gaap Insurance Settlements Receivable
InsuranceSettlementsReceivable
48100000
CY2020Q4 us-gaap Insurance Settlements Receivable
InsuranceSettlementsReceivable
32200000
CY2021 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Reclassification For Discontinuance Before Tax
OtherComprehensiveIncomeLossCashFlowHedgeReclassificationForDiscontinuanceBeforeTax
-6800000
CY2021 pzza Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Taxes
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTaxes
5300000
CY2020 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification Before Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationBeforeTax
-7500000
CY2020 pzza Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Taxes
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTaxes
-5800000
CY2019 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification Before Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationBeforeTax
-10800000
CY2019 pzza Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Taxes
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTaxes
-8300000
CY2021Q4 pzza Number Of Joint Ventures Having Noncontrolling Interests
NumberOfJointVenturesHavingNoncontrollingInterests
4
CY2021Q4 pzza Number Of Joint Ventures Having Noncontrolling Interests
NumberOfJointVenturesHavingNoncontrollingInterests
4
CY2021Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
20907000
CY2020Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
16840000
CY2021Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
176256000
CY2020Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
148110000
CY2021Q4 pzza Operating And Finance Lease Assets
OperatingAndFinanceLeaseAssets
197163000
CY2020Q4 pzza Operating And Finance Lease Assets
OperatingAndFinanceLeaseAssets
164950000
CY2021Q4 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
4977000
CY2020Q4 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
3545000
CY2021Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
22543000
CY2020Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
23538000
CY2021Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
16580000
CY2020Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
13531000
CY2021Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
160672000
CY2020Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
124666000
CY2021Q4 pzza Operating And Financing Lease Liabilities
OperatingAndFinancingLeaseLiabilities
204772000
CY2020Q4 pzza Operating And Financing Lease Liabilities
OperatingAndFinancingLeaseLiabilities
165280000
CY2021 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
4980000
CY2020 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
2342000
CY2021 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
1140000
CY2020 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
606000
CY2021 us-gaap Operating Lease Cost
OperatingLeaseCost
43072000
CY2020 us-gaap Operating Lease Cost
OperatingLeaseCost
40026000
CY2021 us-gaap Short Term Lease Cost
ShortTermLeaseCost
2032000
CY2020 us-gaap Short Term Lease Cost
ShortTermLeaseCost
3960000
CY2021 us-gaap Variable Lease Cost
VariableLeaseCost
8572000
CY2020 us-gaap Variable Lease Cost
VariableLeaseCost
6503000
CY2021 pzza Lease Cost Excluding Sublease Income
LeaseCostExcludingSubleaseIncome
59796000
CY2020 pzza Lease Cost Excluding Sublease Income
LeaseCostExcludingSubleaseIncome
53437000
CY2021 us-gaap Sublease Income
SubleaseIncome
12039000
CY2020 us-gaap Sublease Income
SubleaseIncome
10407000
CY2021 us-gaap Lease Cost
LeaseCost
47757000
CY2020 us-gaap Lease Cost
LeaseCost
43030000
CY2021Q4 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
5969000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
33323000
CY2021Q4 pzza Sublease Income Next Twelve Months
SubleaseIncomeNextTwelveMonths
10704000
CY2021Q4 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
5919000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
32174000
CY2021Q4 pzza Sublease Income Second Fiscal Year
SubleaseIncomeSecondFiscalYear
10515000
CY2021Q4 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
4872000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
31069000
CY2021Q4 pzza Sublease Income Third Fiscal Year
SubleaseIncomeThirdFiscalYear
10302000
CY2021Q4 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
3242000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
26794000
CY2021Q4 pzza Sublease Income Fourth Fiscal Year
SubleaseIncomeFourthFiscalYear
9835000
CY2021Q4 us-gaap Finance Lease Liability Payments Due Year Five
FinanceLeaseLiabilityPaymentsDueYearFive
2265000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
22727000
CY2021Q4 pzza Sublease Income Fifth Fiscal Year
SubleaseIncomeFifthFiscalYear
9107000
CY2021Q4 us-gaap Finance Lease Liability Payments Due After Year Five
FinanceLeaseLiabilityPaymentsDueAfterYearFive
1748000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
96187000
CY2021Q4 pzza Sublease Income After Fifth Fiscal Year
SubleaseIncomeAfterFifthFiscalYear
44700000
CY2021Q4 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
24015000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
242274000
CY2021Q4 pzza Total Future Sublease Income
TotalFutureSubleaseIncome
95163000
CY2021Q4 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
2458000
CY2021Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
59059000
CY2021Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
21557000
CY2021Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
183215000
CY2021Q4 pzza Total Future Sublease Income
TotalFutureSubleaseIncome
95163000
CY2021Q4 pzza Lessor Operating Leases Number Of Units
LessorOperatingLeasesNumberOfUnits
425
CY2021Q4 us-gaap Lessor Operating Lease Term Of Contract
LessorOperatingLeaseTermOfContract
P15Y
CY2021Q4 pzza Contingent Liability Number Of Leases
ContingentLiabilityNumberOfLeases
70
CY2021Q4 pzza Contingent Liability Assumed In Sale Of Business
ContingentLiabilityAssumedInSaleOfBusiness
11500000
CY2021 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
1140000
CY2020 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
606000
CY2019 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
269000
CY2021 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
4566000
CY2020 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
2139000
CY2019 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
781000
CY2021 us-gaap Operating Lease Payments
OperatingLeasePayments
38530000
CY2020 us-gaap Operating Lease Payments
OperatingLeasePayments
37113000
CY2019 us-gaap Operating Lease Payments
OperatingLeasePayments
40152000
CY2021 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
9486000
CY2020 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
9152000
CY2019 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
10199000
CY2021 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
64420000
CY2020 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
30266000
CY2019 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
20903000
CY2021 pzza Proceeds From Subleases
ProceedsFromSubleases
11597000
CY2020 pzza Proceeds From Subleases
ProceedsFromSubleases
10545000
CY2019 pzza Proceeds From Subleases
ProceedsFromSubleases
10139000
CY2021Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P4Y6M3D
CY2020Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P4Y8M15D
CY2019Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P4Y9M
CY2021Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P8Y3M18D
CY2020Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P7Y
CY2019Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P7Y
CY2021Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.0508
CY2020Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.0534
CY2019Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.0638
CY2021Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0620
CY2020Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0665
CY2019Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0694
CY2021 pzza Contract With Customer Liabilities Revenue Recognized
ContractWithCustomerLiabilitiesRevenueRecognized
36300000
CY2020 pzza Contract With Customer Liabilities Revenue Recognized
ContractWithCustomerLiabilitiesRevenueRecognized
33200000
CY2021Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
35546000
CY2020Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
33254000
CY2021 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
2292000
CY2021Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
5800000
CY2020Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
5100000
CY2021 us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
3000000.0
CY2020 us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
3200000
CY2020Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000.0
CY2021Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000.0
CY2020Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2021Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2020Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000.0
CY2021Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000.0
CY2021Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
35800000
CY2020Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
32500000
CY2021Q3 us-gaap Temporary Equity Par Or Stated Value Per Share
TemporaryEquityParOrStatedValuePerShare
0.01
CY2021Q4 us-gaap Temporary Equity Shares Authorized
TemporaryEquitySharesAuthorized
0
CY2021 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
594000
CY2021 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
121.96
CY2021 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
72499000
CY2021Q4 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
424800000
CY2020 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
32000
CY2020 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
83.90
CY2020 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
2701000
CY2020Q4 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
72299000
CY2021 pzza Dividends Recorded
DividendsRecorded
46000000.0
CY2021 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
1.15
CY2021 us-gaap Preferred Stock Dividend Rate Percentage
PreferredStockDividendRatePercentage
0.036
CY2021 us-gaap Net Income Loss
NetIncomeLoss
120016000
CY2020 us-gaap Net Income Loss
NetIncomeLoss
57932000
CY2019 us-gaap Net Income Loss
NetIncomeLoss
4866000
CY2021 us-gaap Convertible Preferred Stock Converted To Other Securities
ConvertiblePreferredStockConvertedToOtherSecurities
109852000
CY2021 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
6091000
CY2020 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
14059000
CY2019 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
12499000
CY2020 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
2136000
CY2021 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
4073000
CY2020 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
41737000
CY2019 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-7633000
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
35007000
CY2020 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
32421000
CY2019 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
31632000
CY2021 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.12
CY2020 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.29
CY2019 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.24
CY2021 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
4073000
CY2020 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
41737000
CY2019 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-7633000
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
35007000
CY2020 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
32421000
CY2019 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
31632000
CY2021 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
330000
CY2020 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
296000
CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
35337000
CY2020 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
32717000
CY2020Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
30829000
CY2021Q4 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
190116000
CY2020Q4 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
174563000
CY2019 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
31632000
CY2021 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.12
CY2020 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.28
CY2019 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.24
CY2020 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
100000
CY2019 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0
CY2021 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0
CY2020 pzza Fair Value Measurement Reconciliation Transfers
FairValueMeasurementReconciliationTransfers
0
CY2021 pzza Fair Value Measurement Reconciliation Transfers
FairValueMeasurementReconciliationTransfers
0
CY2020Q4 pzza Number Of Joint Ventures Having Noncontrolling Interests
NumberOfJointVenturesHavingNoncontrollingInterests
4
CY2021Q4 pzza Number Of Joint Ventures Having Noncontrolling Interests
NumberOfJointVenturesHavingNoncontrollingInterests
4
CY2021Q4 pzza Number Of Joint Ventures Under Which Noncontrolling Interest Holders Have Option To Require Company To Purchase Their Interests
NumberOfJointVenturesUnderWhichNoncontrollingInterestHoldersHaveOptionToRequireCompanyToPurchaseTheirInterests
2
CY2019Q4 us-gaap Goodwill
Goodwill
80340000
CY2020 us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
451000
CY2020Q4 us-gaap Goodwill
Goodwill
80791000
CY2021 us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
-159000
CY2021Q4 us-gaap Goodwill
Goodwill
80632000
CY2020Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
1708000
CY2020Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
328292000
CY2021Q4 us-gaap Deferred Finance Costs Gross
DeferredFinanceCostsGross
2100000
CY2020Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
20000000
CY2021Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
480730000
CY2021Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
490000000
CY2020Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
350000000
CY2021Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
9270000
CY2021 us-gaap Interest Paid Net
InterestPaidNet
13400000
CY2020 us-gaap Interest Paid Net
InterestPaidNet
15800000
CY2019 us-gaap Interest Paid Net
InterestPaidNet
18100000
CY2020Q4 us-gaap Self Insurance Reserve Current
SelfInsuranceReserveCurrent
32947000
CY2021Q4 pzza Accrued Purchases Current
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13319000
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
750094000
CY2020Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
692515000
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
526238000
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
491620000
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
223856000
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
200895000
CY2021Q4 us-gaap Accrued Marketing Costs Current
AccruedMarketingCostsCurrent
59248000
CY2020Q4 us-gaap Accrued Marketing Costs Current
AccruedMarketingCostsCurrent
47885000
CY2021Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
48728000
CY2020Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
46352000
CY2021Q4 us-gaap Self Insurance Reserve Current
SelfInsuranceReserveCurrent
34661000
CY2020Q4 pzza Accrued Purchases Current
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CY2019 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
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CY2020 pzza Income Loss From Continuing Operations Before Income Taxes Foreign Subject To Foreign Withholding Taxes
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CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
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11.69
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
353000
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0
CY2021Q4 us-gaap Deferred Compensation Plan Assets
DeferredCompensationPlanAssets
41900000
CY2020Q4 us-gaap Deferred Compensation Plan Assets
DeferredCompensationPlanAssets
37600000
CY2021Q4 us-gaap Deferred Compensation Liability Classified Noncurrent
DeferredCompensationLiabilityClassifiedNoncurrent
36200000
CY2020Q4 us-gaap Deferred Compensation Liability Classified Noncurrent
DeferredCompensationLiabilityClassifiedNoncurrent
35800000
CY2021 pzza Defined Contribution Plan Employer Contribution Percentage Match Of Compensation
DefinedContributionPlanEmployerContributionPercentageMatchOfCompensation
0.040
CY2020 pzza Defined Contribution Plan Employer Contribution Percentage Match Of Compensation
DefinedContributionPlanEmployerContributionPercentageMatchOfCompensation
0.021
CY2019 pzza Defined Contribution Plan Employer Contribution Percentage Match Of Compensation
DefinedContributionPlanEmployerContributionPercentageMatchOfCompensation
0.021
CY2019 pzza Maximum Employee Contribution Percentage Eligible For Employer Match
MaximumEmployeeContributionPercentageEligibleForEmployerMatch
0.06
CY2020 pzza Maximum Employee Contribution Percentage Eligible For Employer Match
MaximumEmployeeContributionPercentageEligibleForEmployerMatch
0.06
CY2021 pzza Maximum Employee Contribution Percentage Eligible For Employer Match
MaximumEmployeeContributionPercentageEligibleForEmployerMatch
0.06
CY2021 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
3500000
CY2020 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
1800000
CY2019 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
1500000
CY2021 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
4
CY2021 us-gaap Revenues
Revenues
2068421000
CY2020 us-gaap Revenues
Revenues
1813234000
CY2019 us-gaap Revenues
Revenues
1619248000
CY2021 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
48816000
CY2020 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
49705000
CY2019 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
47281000
CY2021 us-gaap Operating Income Loss
OperatingIncomeLoss
168241000
CY2020 us-gaap Operating Income Loss
OperatingIncomeLoss
90253000
CY2019 us-gaap Operating Income Loss
OperatingIncomeLoss
24535000
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
526238000
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
491620000
CY2019Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
464665000
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
223856000
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
200895000
CY2019Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
211741000
CY2021 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
68559000
CY2020 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
35652000
CY2019 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
37711000
CY2021 pzza Payments To Acquire Property Plant And Equipment Investment In Growth Of Technology And Development Initiatives
PaymentsToAcquirePropertyPlantAndEquipmentInvestmentInGrowthOfTechnologyAndDevelopmentInitiatives
32900000
CY2021 us-gaap Revenues
Revenues
2068421000
CY2020 us-gaap Revenues
Revenues
1813234000
CY2019 us-gaap Revenues
Revenues
1619248000

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