Papa John's International (PZZA) 10-Q 5 May 09 2009 Q1 Quarterly report Financial data

0010 - Condensed Consolidated B

0010 - Condensed Consolidated Balance Sheets (USD $)
In Thousands	Mar. 29, 2009		Dec. 28, 2008
Current Assets:
Cash and cash equivalents	$18,141	[2]	$10,987	[1]
Accounts receivable	22,988	[2]	23,775	[1]
Inventories	15,001	[2]	16,872	[1]
Prepaid expenses	9,655	[2]	9,797	[1]
Other current assets	5,327	[2]	5,275	[1]
Assets held for sale	1,428	[2]	1,540	[1]
Deferred income taxes	7,811	[2]	7,102	[1]
Total current assets	80,351	[2]	75,348	[1]
Investments	627	[2]	530	[1]
Net property and equipment	189,605	[2]	189,992	[1]
Notes receivable	10,340	[2]	7,594	[1]
Deferred income taxes	14,509	[2]	17,518	[1]
Goodwill	73,282	[2]	76,914	[1]
Other assets	19,147	[2]	18,572	[1]
Total assets	387,861	[2]	386,468	[1]
Current liabilities:
Accounts payable	27,308	[2]	29,148	[1]
Income and other taxes	17,465	[2]	9,685	[1]
Accrued expenses	48,842	[2]	54,220	[1]
Current portion of debt	8,450	[2]	7,075	[1]
Total current liabilities	102,065	[2]	100,128	[1]
Unearned franchise and development fees	5,639	[2]	5,916	[1]
Long-term debt, net of current portion	103,075	[2]	123,579	[1]
Other long-term liabilities	19,300	[2]	18,607	[1]
Stockholders' equity:
Preferred stock	0	[2]	0	[1]
Common stock	356	[2]	352	[1]
Additional paid-in capital	223,476	[2]	216,553	[1]
Accumulated other comprehensive income (loss)	(4,707)	[2]	(3,818)	[1]
Retained earnings	151,598	[2]	133,759	[1]
Treasury stock	(221,818)	[2]	(216,860)	[1]
Total stockholders' equity, net of noncontrolling interests	148,905	[2]	129,986	[1]
Noncontrolling interests in subsidiaries	8,877	[2]	8,252	[1]
Total stockholders' equity	157,782	[2]	138,238	[1]
Total liabilities and stockholders' equity	$387,861	[2]	$386,468	[1]
[1]Note: The balance sheet at December 28, 2008 has been derived from the audited consolidated financial statements at that date, but does not include all information and footnotes required by accounting principles generally accepted in the United States for a complete set of financial statements. See Note 2 for modifications made as a result of adopting recent accounting pronouncements.
[2]Unaudited

0020 - Consolidated Statements

0020 - Consolidated Statements of Income (USD $)
In Thousands, except Per Share data	3 Months Ended Mar. 29, 2009		3 Months Ended Mar. 30, 2008
Domestic revenues:
Company-owned restaurant sales	$131,705	[1]	$138,855	[1]
Variable interest entities restaurant sales	5,671	[1]	2,040	[1]
Franchise royalties	15,361	[1]	15,445	[1]
Franchise and development fees	228	[1]	920	[1]
Commissary sales	107,916	[1]	106,047	[1]
Other sales	14,769	[1]	16,845	[1]
International revenues:
Royalties and franchise and development fees	3,235	[1]	3,020	[1]
Restaurant and commissary sales	6,087	[1]	5,833	[1]
Total revenues	284,972	[1]	289,005	[1]
Domestic Company-owned restaurant expenses:
Cost of sales	25,901	[1]	31,572	[1]
Salaries and benefits	38,203	[1]	41,560	[1]
Advertising and related costs	11,273	[1]	12,697	[1]
Occupancy costs	7,916	[1]	8,471	[1]
Other operating expenses	17,628	[1]	18,307	[1]
Total domestic Company-owned restaurant expenses	100,921	[1]	112,607	[1]
Variable interest entities restaurant expenses	4,809	[1]	1,793	[1]
Domestic commissary and other expenses:
Cost of sales	90,950	[1]	90,006	[1]
Salaries and benefits	8,831	[1]	8,965	[1]
Other operating expenses	10,672	[1]	11,532	[1]
Total domestic commissary and other expenses	110,453	[1]	110,503	[1]
(Income) loss from the franchise cheese-purchasing program, net of minority interest	(7,103)	[1]	5,558	[1]
International operating expenses	5,357	[1]	5,340	[1]
General and administrative expenses	27,763	[1]	27,214	[1]
Other general expenses	4,467	[1]	2,213	[1]
Depreciation and amortization	7,955	[1]	8,006	[1]
Total costs and expenses	254,622	[1]	273,234	[1]
Operating income	30,350	[1]	15,771	[1]
Investment income	132	[1]	266	[1]
Interest expense	(1,416)	[1]	(1,892)	[1]
Income before income taxes	29,066	[1]	14,145	[1]
Income tax expense	10,302	[1]	4,976	[1]
Net income, including noncontrolling interests	18,764	[1]	9,169	[1]
Less: income attributable to noncontrolling interests	(925)	[1]	(544)	[1]
Net income, net of noncontrolling interests	$17,839	[1]	$8,625	[1]
Basic earnings per common share	0.65	[1]	0.3	[1]
Earnings per common share - assuming dilution	0.64	[1]	0.3	[1]
Basic weighted average shares outstanding	27,640	[1]	28,700	[1]
Diluted weighted average shares outstanding	27,707	[1]	28,885	[1]
[1]Unaudited

0030 - Consolidated Statements

0030 - Consolidated Statements of Stockholders' Equity (USD $)

In Thousands

Common Stock

Additional Paid-In Capital

Accumulated Other Comprehensive Income (Loss)

Retained Earnings

Treasury Stock

Noncontrolling Interests in Subsidiaries

Total

Balance at beginning of period at Dec. 30, 2007

$349

[4]

$208,598

[4]

$156

[4]

$96,963

[4]

($179,163)

[4]

$8,035

[4]

$134,938

[4]

Balance at beginning of period, Shares Outstanding at Dec. 30, 2007

28,777

[4]

Comprehensive income:

Net income

8,625

[4]

544

[4]

9,169

[4]

Change in valuation of interest rate swap agreements, net of tax of $72 and $740, respectively

(1,345)

[4]

(1,345)

[4]

Other, net

124

[4]

124

[4]

Comprehensive income

7,948

[4]

Exercise of stock options, value

1

[4]

458

[4]

459

[4]

Exercise of stock options, shares

24

[4]

Tax effect related to exercise of non-qualified stock options

55

[4]

55

[4]

Acquisition of treasury stock, value

(2,272)

[4]

(2,272)

[4]

Acquisition of treasury stock, shares

(104)

[4]

Distributions to noncontrolling interests

(600)

[4]

(600)

[4]

Other

1,247

[4]

1,247

[4]

Balance at end of period at Mar. 30, 2008

350

[4]

210,358

[4]

(1,065)

[2],[4]

105,588

[4]

(181,435)

[4]

7,979

[4]

141,775

[4]

Balance at end of period, Shares Outstanding at Mar. 30, 2008

28,697

[4]

Balance at beginning of period at Dec. 28, 2008

352

[4]

216,553

[4]

(3,818)

[4]

133,759

[4]

(216,860)

[4]

8,252

[4]

138,238

[3]

Balance at beginning of period, Shares Outstanding at Dec. 28, 2008

27,637

[4]

Comprehensive income:

Net income

17,839

[4]

925

[4]

18,764

[4]

Change in valuation of interest rate swap agreements, net of tax of $72 and $740, respectively

126

[4]

126

[4]

Other, net

(1,015)

[4]

(1,015)

[4]

Comprehensive income

17,875

[4]

Exercise of stock options, value

4

[4]

6,121

[4]

6,125

[4]

Exercise of stock options, shares

359

[4]

Tax effect related to exercise of non-qualified stock options

(119)

[4]

(119)

[4]

Acquisition of treasury stock, value

(4,958)

[4]

(4,958)

[4]

Acquisition of treasury stock, shares

(275)

[4]

Distributions to noncontrolling interests

(300)

[4]

(300)

[4]

Other

921

[4]

921

[4]

Balance at end of period at Mar. 29, 2009

$356

[4]

$223,476

[4]

($4,707)

[1],[4]

$151,598

[4]

($221,818)

[4]

$8,877

[4]

$157,782

[4]

Balance at end of period, Shares Outstanding at Mar. 29, 2009

27,721

[4]

[1]At March 29, 2009, the accumulated other comprehensive loss of $4,707 was comprised of a net unrealized loss on the interest rate swap agreements of $3,824, unrealized foreign currency translation losses of $795 and an $88 pension plan liability for PJUK.

[2]At March 30, 2008, the accumulated other comprehensive loss of $1,065 was comprised of a net unrealized loss on the interest rate swap agreements of $2,645, offset by unrealized foreign currency translation gains of $1,571 and a net unrealized gain on investments of $9.

[3]Note: The balance sheet at December 28, 2008 has been derived from the audited consolidated financial statements at that date, but does not include all information and footnotes required by accounting principles generally accepted in the United States for a complete set of financial statements. See Note 2 for modifications made as a result of adopting recent accounting pronouncements.

[4]Unaudited

0035 - Consolidated Statements

0035 - Consolidated Statements of Stockholders' Equity (Parenthetical) (Accumulated Other Comprehensive Income (Loss), USD $)
In Thousands	Total
Change in valuation of interest rate swap agreements, tax	$740	[1]
Change in valuation of interest rate swap agreements, tax	$72	[1]
[1]Unaudited

0040 - Consolidated Statements

0040 - Consolidated Statements of Cash Flows (USD $)
In Thousands	3 Months Ended Mar. 29, 2009		3 Months Ended Mar. 30, 2008
Operating activities:
Net income, net of noncontrolling interests	$17,839	[2]	$8,625	[2]
Adjustments to reconcile net income to net cash provided by operating activities:
Restaurant impairment and disposition losses			1,211	[2]
Provision for uncollectible accounts and notes receivable	1,497	[2]	715	[2]
Depreciation and amortization	7,955	[2]	8,006	[2]
Deferred income taxes	2,230	[2]	(4,217)	[2]
Stock-based compensation expense	921	[2]	1,247	[2]
Excess tax benefit related to exercise of non-qualified stock options			(55)	[2]
Other	362	[2]	184	[2]
Changes in operating assets and liabilities, net of acquisitions:
Accounts receivable	(115)	[2]	(1,044)	[2]
Inventories	2,042	[2]	2,353	[2]
Prepaid expenses	164	[2]	1,101	[2]
Other current assets	462	[2]	(88)	[2]
Other assets and liabilities	(162)	[2]	(257)	[2]
Accounts payable	(3,246)	[2]	(3,315)	[2]
Income and other taxes	7,780	[2]	8,877	[2]
Accrued expenses	(5,487)	[2]	(2,506)	[2]
Unearned franchise and development fees	(277)	[2]	(497)	[2]
Net cash provided by operating activities	31,965	[2]	20,340	[2]
Investing activities
Purchase of property and equipment	(5,064)	[2]	(8,710)	[2]
Purchase of investments	(97)	[2]
Proceeds from sale or maturity of investments			312	[2]
Loans issued	(3,988)	[2]	(549)	[2]
Loan repayments	507	[2]	642	[2]
Acquisitions			(100)	[2]
Proceeds from divestitures of restaurants	200	[2]
Other			135	[2]
Net cash used in investing activities	(8,442)	[2]	(8,270)	[2]
Financing activities:
Net repayments from line of credit facility	(20,500)	[2]	(15,580)	[2]
Net proceeds from short-term debt - variable interest entities	1,375	[2]	6,600	[2]
Excess tax benefit related to exercise of non-qualified stock options			55	[2]
Proceeds from exercise of stock options	6,125	[2]	459	[2]
Acquisition of Company common stock	(4,958)	[2]	(2,272)	[2]
Noncontrolling interests, net of distributions	625	[2]	(56)	[2]
Other	(114)	[2]	(75)	[2]
Net cash used in financing activities	(17,447)	[2]	(10,869)	[2]
Effect of exchange rate changes on cash and cash equivalents	(9)	[2]	118	[2]
Change in cash and cash equivalents	6,067	[2]	1,319	[2]
Cash recorded from consolidation of VIEs	1,087	[2]
Cash and cash equivalents at beginning of period	10,987	[1]	8,877	[2]
Cash and cash equivalents at end of period	$18,141	[2]	$10,196	[2]
[1]Note: The balance sheet at December 28, 2008 has been derived from the audited consolidated financial statements at that date, but does not include all information and footnotes required by accounting principles generally accepted in the United States for a complete set of financial statements. See Note 2 for modifications made as a result of adopting recent accounting pronouncements.
[2]Unaudited

0050 - Notes to Condensed Conso

0050 - Notes to Condensed Consolidated Financial Statements
	3 Months Ended Mar. 29, 2009 USD / shares
Notes to Financial Statements
Basis of Presentation	1. Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States for interim financial information and with the instructions to Form10-Q and Article10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States for complete financial statements. In the opinion of management, all adjustments, consisting of normal recurring accruals, considered necessary for a fair presentation have been included. Operating results for the three months ended March29, 2009 are not necessarily indicative of the results that may be expected for the fiscal year ended December27, 2009. For further information, refer to the consolidated financial statements and footnotes thereto included in the Annual Report on Form10-K for Papa Johns International,Inc. (referred to as the Company, Papa Johns or in the first person notations of we, us and our) for the year ended December28, 2008.
Recent Accounting Pronouncements	2. Recent Accounting Pronouncements Statement of Financial Accounting Standards (SFAS) No.157, Fair Value Measurements SFAS No.157 Fair Value Measurements requires companies to determine fair value based on the price that would be received to sell the asset or paid to transfer the liability to a market participant. SFAS No.157 emphasizes that fair value is a market-based measurement, not an entity-specific measurement. We adopted the provisions of SFAS No.157 in two phases: (1)phase one was effective for financial assets and liabilities in our first quarter of 2008 and (2)phase two was effective for our first quarter of fiscal 2009. The adoption of SFAS No.157 in 2008 and 2009 did not have a significant impact on our financial statements. SFAS No.141R, Business Combinations Papa Johns adopted the provisions of SFAS No.141 - revised 2007 (SFAS No.141R), Business Combinations, in the first quarter of 2009. SFAS No.141R establishes principles and requirements for how an acquirer in a business combination recognizes and measures in its financial statements the identifiable assets acquired, the liabilities assumed, and any noncontrolling interest; recognizes and measures the goodwill acquired in the business combination or a gain from a bargain purchase; and determines what information to disclose to enable financial statement users to evaluate the nature and financial effects of the business combination. SFAS No.141R applies to business combinations for which the acquisition date is on or after December15, 2008. The adoption of this statement had no impact on our consolidated financial statements in the first quarter of 2009. SFAS No.160, Noncontrolling Interests in Consolidated Financial Statements Papa Johns adopted the provisions of SFAS No.160, Noncontrolling Interests in Consolidated Financial Statements an amendment to ARB No.51, in the first quarter of 2009. SFAS No.160 requires all entities to report noncontrolling (minority) interests in subsidiaries as equity in the consolidated financial statements, but separate from the equity of the parent company. The statement further requires that consolidated net income be reported at amounts attributable to the parent and the noncontrolling interest, rather than expensing the income attributable to the minority interest holder. This statement also requires sufficient disclosures to clearly identify and distinguish between the interests of the parent company and the interests of the noncontrolling owners, including a disclosure on the face of the consolidated statements for income attributable to the noncontrolling interest holder. The presentation and disclosure requirements of this statement shall be applied retrospectively for all periods presented, and thus, the prior year financial statements have been modified to incorporate the new requirements. Papa Johns had two joint venture arrangements as of March29, 2009 and March30, 2008, which were as follows: Restaurants Noncontrolling asof Restaurant PapaJohns Interest Mar.29,2009 Locations Ownership* Ownership* Star Papa, LP 76 Texas 51 % 49 % Colonels
Accounting for Variable Interest Entities	3. Accounting for Variable Interest Entities FASB Interpretation No.46, Consolidation of Variable Interest Entities, an Interpretation of Accounting Research Bulletin No.51 (FIN 46), provides a framework for identifying variable interest entities (VIEs) and determining when a company should include the assets, liabilities, non-controlling interests and results of activities of a VIE in its consolidated financial statements. In general, a VIE is a corporation, partnership, limited-liability company, trust, or any other legal structure used to conduct activities or hold assets that either (1)has an insufficient amount of equity to carry out its principal activities without additional subordinated financial support, (2)has a group of equity owners that are unable to make significant decisions about its activities, or (3)has a group of equity owners that do not have the obligation to absorb losses or the right to receive returns generated by its operations. FIN 46 requires a VIE to be consolidated if a party with an ownership, contractual or other financial interest in the VIE (a variable interest holder) is obligated to absorb a majority of the risk of loss from the VIEs activities, is entitled to receive a majority of the VIEs residual returns (if no party absorbs a majority of the VIEs losses), or both. A variable interest holder that consolidates the VIE is called the primary beneficiary. Upon consolidation, the primary beneficiary generally must initially record all of the VIEs assets, liabilities and non-controlling interests at fair value and subsequently account for the VIE as if it were consolidated based on majority voting interest. FIN 46 also requires disclosures about VIEs that the variable interest holder is not required to consolidate but in which it has a significant variable interest. We have a purchasing arrangement with BIBP Commodities,Inc. (BIBP), a special-purpose entity formed at the direction of our Franchise Advisory Council for the sole purpose of reducing cheese price volatility to domestic system-wide restaurants. BIBP is an independent, franchisee-owned corporation. BIBP purchases cheese at the market price and sells it to our distribution subsidiary, PJ Food Service,Inc. (PJFS), at a fixed price. PJFS in turn sells cheese to Papa Johns restaurants (both Company-owned and franchised) at a set price. Effective March2009, we modified the BIBP formula to establish the price of cheese on a more frequent basis based on the projected spot market prices. Under this new formula, we anticipate BIBP will substantially repay its cumulative deficit by the end of 2011. PJFS purchased $36.0 million and $39.7 million of cheese from BIBP for the three months ended March29, 2009 and March30, 2008, respectively. As defined by FIN 46, we are the primary beneficiary of BIBP, a VIE. We recognize the operating losses generated by BIBP if BIBPs shareholders equity is in a net deficit position. Further, we will recognize the subsequent operating income generated by BIBP up to the amount of any losses previously recognized. We recognized a pre-tax gain of $9.0 million ($5.9 million net of tax, or $0.21 per share) and a pre
Debt	4. Debt Our debt is comprised of the following (in thousands): March29, December28, 2009 2008 Revolving line of credit $ 103,000 $ 123,500 Debt associated with VIEs * 8,450 7,075 Other 75 79 Total debt 111,525 130,654 Less: current portion of debt (8,450 ) (7,075 ) Long-term debt $ 103,075 $ 123,579 *Papa Johns is the guarantor of BIBPs outstanding debt. In January2006, we executed a five-year, unsecured Revolving Credit Facility (Credit Facility) totaling $175.0 million. Under the Credit Facility, outstanding balances accrue interest at 50.0 to 100.0 basis points over the London Interbank Offered Rate (LIBOR) or other bank-developed rates, at our option. The commitment fee on the unused balance ranges from 12.5 to 20.0 basis points. The increment over LIBOR and the commitment fee are determined quarterly based upon the ratio of total indebtedness to earnings before interest, taxes, depreciation and amortization (EBITDA), as defined. The remaining availability under our line of credit, reduced for certain outstanding letters of credit, approximated $51.6 million and $31.1 million as of March29, 2009 and December28, 2008, respectively. The fair value of our outstanding debt approximates the carrying value since our debt agreements are variable-rate instruments. The Credit Facility contains customary affirmative and negative covenants, including financial covenants requiring the maintenance of specified fixed charges and leverage ratios. At March29, 2009 and December28, 2008, we were in compliance with these covenants. We presently have two interest rate swap agreements (swaps) that provide fixed interest rates, as compared to LIBOR, as follows: Floating RateDebt Fixed Rates The first interest rate swap agreement: January16, 2007 to January15, 2009 $ 60 million 4.98 % January15, 2009 to January15, 2011 $ 50 million 4.98 % The second interest rate swap agreement: January31, 2009 to January31, 2011 $ 50 million 3.74 % Our swaps are derivative instruments that are designated as cash flow hedges because the swaps provide a hedge against the effects of rising interest rates on present and/or forecasted future borrowings. The effective portion of the gain or loss on the swaps is reported as a component of other comprehensive income and reclassified into earnings in the same period or periods during which the swaps affect earnings. Gains or losses on the swaps representing either hedge ineffectiveness or hedge components excluded from the assessment of effectiveness are recognized in current earnings. Amounts payable or receivable under the swaps are accounted for as adjustments to interest expense. The following tables provide information on the location and amounts of our swaps in the accompanying consolidated financial statements (in thousands): Fair Values of Derivative Instruments LiabilityDerivatives BalanceSheetLocation FairValue Mar-09 FairValue Dec-08 Derivatives designated as hedging instruments under Statement 133: Interest rat
Calculation of Earnings Per Share	5. Calculation of Earnings Per Share The calculations of basic earnings per common share and earnings per common share assuming dilution are as follows (in thousands, except per-share data): ThreeMonthsEnded March29, March30, 2009 2008 Basic earnings per common share: Net income $ 17,839 $ 8,625 Weighted average shares outstanding 27,640 28,700 Basic earnings per common share $ 0.65 $ 0.30 Earnings per common share - assuming dilution: Net income $ 17,839 $ 8,625 Weighted average shares outstanding 27,640 28,700 Dilutive effect of outstanding common stock options 67 185 Diluted weighted average shares outstanding 27,707 28,885 Earnings per common share - assuming dilution $ 0.64 $ 0.30 Shares subject to options to purchase common stock with an exercise price greater than the average market price for the quarter were not included in the computation of the dilutive effect of common stock options because the effect would have been antidilutive. The weighted average number of shares subject to the antidilutive options was 1.3 million and 1.1 million at March29, 2009 and March30, 2008, respectively.
Segment Information	6. Segment Information We have defined five reportable segments: domestic restaurants, domestic commissaries, domestic franchising, international operations and variable interest entities (VIEs). The domestic restaurant segment consists of the operations of all domestic (domestic is defined as contiguous United States) Company-owned restaurants and derives its revenues principally from retail sales of pizza and side items, such as breadsticks, cheesesticks, chicken strips, chicken wings, dessert pizza, and soft drinks to the general public. The domestic commissary segment consists of the operations of our regional dough production and product distribution centers and derives its revenues principally from the sale and distribution of food and paper products to domestic Company-owned and franchised restaurants. The domestic franchising segment consists of our franchise sales and support activities and derives its revenues from sales of franchise and development rights and collection of royalties from our domestic franchisees. The international operations segment principally consists of our Company-owned restaurants and distribution sales to franchised Papa Johns restaurants located in the United Kingdom, China and Mexico and our franchise sales and support activities, which derive revenues from sales of franchise and development rights and the collection of royalties from our international franchisees. VIEs consist of entities in which we are deemed the primary beneficiary, as defined in Note 3, and include BIBP and certain franchisees to which we have extended loans. All other business units that do not meet the quantitative thresholds for determining reportable segments consist of operations that derive revenues from the sale, principally to Company-owned and franchised restaurants, of printing and promotional items, risk management services, and information systems and related services used in restaurant operations. Generally, we evaluate performance and allocate resources based on profit or loss from operations before income taxes and eliminations. Certain administrative and capital costs are allocated to segments based upon predetermined rates or actual estimated resource usage. We account for intercompany sales and transfers as if the sales or transfers were to third parties and eliminate the related profit in consolidation. Our reportable segments are business units that provide different products or services. Separate management of each segment is required because each business unit is subject to different operational issues and strategies. No single external customer accounted for 10% or more of our consolidated revenues. Our segment information is as follows: ThreeMonthsEnded (Inthousands) March29,2009 March30,2008 Revenues from external customers: Domestic Company-owned restaurants $ 131,705 $ 138,855 Domestic commissaries 107,916 106,047 Domestic franchising 15,589 16,365 International 9,322 8,853 Variable interest entities (1) 5,671 2,040 All others 14,769 16,845 Total revenues from external customers $ 284,972
Subsequent Events	7. Subsequent Events On April27, 2009, we divested ten restaurants located in our Albuquerque, New Mexico market. Total consideration for the sale of the restaurants was $1.1 million, consisting of cash proceeds of $630,000 and notes to Papa Johns from the purchasers, who are existing Papa Johns franchisees, for $500,000. We anticipate a gain of approximately $300,000 will be recognized in the second quarter of 2009 upon completion of the sale.

9999 - Document and Entity Info

9999 - Document and Entity Information (USD $)
	3 Months Ended Mar. 29, 2009	Apr. 29, 2009	Jun. 29, 2008
Document and Entity Information
Entity Registrant Name	PAPA JOHNS INTERNATIONAL INC
Entity Central Index Key	0000901491
Document Type	10-Q
Document Period End Date	2009-03-29
Amendment Flag	false
Current Fiscal Year End Date	--12-27
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Public Float			$574,220,073
Entity Common Stock, Shares Outstanding		27,946,971