ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
(State or other jurisdiction of |
(I.R.S. Employer | |
incorporation or organization) |
Identification No.) | |
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(Address of principal executive offices) |
(Zip Code) |
Title of Each Class |
Trading Symbol |
Name of Each Exchange on Which Registered | ||
Domino’s Pizza, Inc. |
☒ |
Accelerated filer |
☐ | ||||
Non-accelerated filer |
☐ |
Smaller reporting company |
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Emerging growth company |
Market |
Number of stores |
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India (JUBLFOOD: NS) |
1,313 | |||
United Kingdom (DOM: L) |
1,144 | |||
Mexico (ALSEA: MX) |
779 | |||
Japan (DMP: ASX) |
742 | |||
Australia (DMP: ASX) |
709 | |||
Turkey (DPEU: L) |
560 | |||
Canada |
541 | |||
South Korea |
466 | |||
France (DMP: ASX) |
431 | |||
China |
363 |
Item 1A. |
Risk Factors. |
• | consumer tastes; |
• | international, national, regional or local economic conditions; |
• | disposable purchasing power; |
• | marketing, advertising and pricing, including discounting; |
• | demographic trends; and |
• | currency fluctuations related to international operations. |
• | construction, permitting or development delays relating to the COVID-19 pandemic; |
• | availability of financing with acceptable terms; |
• | selection and availability of suitable new store sites and the ability to renew leases in quality locations; |
• | negotiation of acceptable lease or financing terms; |
• | securing required U.S. or foreign governmental permits, licenses and approvals; |
• | employment and training of qualified personnel; and |
• | general economic and business conditions. |
• | recessionary or expansive trends in international markets; |
• | changing labor conditions and difficulties in staffing and managing our foreign operations; |
• | increases in the taxes we pay and other changes in applicable tax laws both in the U.S. and globally; |
• | tariffs and trade barriers; |
• | legal and regulatory changes, and the burdens and costs of our compliance with a variety of foreign laws; |
• | changes in inflation rates; |
• | changes in exchange rates and the imposition of restrictions on currency conversion or the transfer of funds; |
• | difficulty in collecting our royalties and longer payment cycles; |
• | expropriation of private enterprises; |
• | the inherent risk of doing business in China resulting from our equity investment in Dash Brands; |
• | increases in anti-American sentiment and the identification of the Domino’s Pizza |
• | political and economic instability and uncertainty around the world, including uncertainty arising from the COVID-19 pandemic; and |
• | other external factors. |
• | those relating to the application of local, state, federal and foreign bankruptcy laws and other applicable laws governing creditors’ rights generally and the impact such laws could have on our ability to collect payments and fees under applicable franchise agreements; |
• | those relating to franchisees that are operating entities, which generally are not limited-purpose entities, including business, credit, financial and other risks in addition to risks related to unions; |
• | those relating to franchisee changes in control and succession in general and the ability to find acceptable successors who would be able to perform a former franchisee’s obligations under applicable franchise agreements or successfully operate impacted stores in the event of a change of control or other succession event; |
• | those relating to franchisee insurance, including the inadequacy of, or inability to obtain, insurance coverage, losses in excess of policy limits or payments not being made on a timely basis, extraordinary hazards not being subject to coverage (or only being subject to coverage at prohibitively high rates) or third parties seeking to recover certain losses from us to the extent those losses experienced by such third parties are either not covered by the franchisee’s insurance or exceed the policy limits of the franchisee’s insurance; |
• | those relating to instances of termination of or default under a franchisee’s franchise agreement or the non-renewal thereof at the end of such agreement’s expiration date and the corresponding impact on the franchisee’s or our operations; |
• | those relating to product liability exposure or noncompliance with health and safety regulations and the resulting impact such events could have on a franchisee’s ability to make payments under applicable franchise agreements, on us if an aggrieved party seeks to recover their losses from us and on our brand’s reputation; |
• | the imposition of injunctive relief, fines, damage awards or capital expenditures under the Americans with Disabilities Act of 1990, as amended, or other laws or regulations that could adversely affect the ability of a franchisee to make payments under applicable franchise agreements; |
• | litigation involving franchisees, including litigation involving us or litigation involving a third-party directed at a franchisee, which could decrease the ability of a defendant-franchisee to make its royalty payments and divert our resources regardless of whether the allegations in such litigation are valid or whether we are liable; and |
• | those relating to the reliance of a franchised store business on its franchisees and the nature of franchisees in general, including the retention of franchisees (especially including our top-performing franchisees) in the future or our ability to attract, retain, and motivate sufficient numbers of franchisees of the same caliber in the future. |
• | make it more difficult for us to satisfy our obligations with respect to our debt agreements; |
• | increase our vulnerability to general adverse economic and industry conditions; |
• | require us to dedicate a substantial portion of our cash flow from operations to payments on our indebtedness, thereby reducing the availability of our cash flow for other purposes; and |
• | limit our flexibility in planning for, or reacting to, changes in our business and the industry in which we operate, thereby placing us at a competitive disadvantage compared to our peers that may have less debt. |
• | sell assets; |
• | alter the business we conduct; |
• | engage in mergers, acquisitions and other business combinations; |
• | declare dividends or redeem or repurchase capital stock; |
• | incur, assume or permit to exist additional indebtedness or guarantees; |
• | make loans and investments; |
• | incur liens; and |
• | enter into transactions with affiliates. |
• | the preparation, sale and labeling of food; |
• | building and zoning requirements; |
• | environmental protection; |
• | labor and employment, including minimum wage, overtime, insurance, discrimination and other labor requirements; |
• | working and safety conditions; |
• | franchise arrangements; |
• | taxation; |
• | antitrust; |
• | payment card industry standards and requirements; and |
• | information privacy and consumer protection. |
• | variations in the timing and volume of our sales and our franchisees’ sales; |
• | the timing of expenditures in anticipation of future sales; |
• | planned or actual changes to our capital or debt structure; |
• | strategic actions by us or our competitors, such as sales promotions, acquisitions or restructurings; |
• | changes in our dividend policy or any share repurchase program; |
• | significant litigation; |
• | legislation or other regulatory developments affecting us or our industry; |
• | changes in competitive and economic conditions generally; |
• | general market conditions; |
• | changes in the cost or availability of our ingredients or labor; and |
• | foreign currency exposure. |
Item 1B. |
Unresolved Staff Comments. |
Item 2. |
Properties. |
Item 3. |
Legal Proceedings. |
Item 4. |
Mine Safety Disclosures. |
Item 4A. |
Executive Officers of the Registrant. |
Item 5. |
Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities. |
Period |
Total Number of Shares Purchased (1) |
Average Price Paid per Share |
Total Number of Shares Purchased as Part of Publicly Announced Program (2) |
Maximum Approximate Dollar Value of Shares that May Yet Be Purchased Under the Program (in thousands) |
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Period #10 (September 7, 2020 to October 4, 2020) |
933 | $ | 430.25 | — | $ | 326,552 | ||||||||||
Period #11 (October 5, 2020 to November 1, 2020) |
503,202 | 398.39 | 501,956 | 126,552 | ||||||||||||
Period #12 (November 2, 2020 to November 29, 2020) |
65,851 | 379.64 | 65,851 | 101,552 | ||||||||||||
Period #13 (November 30, 2020 to January 3, 2021) |
835 | 391.53 | — | 101,552 | ||||||||||||
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Total |
570,821 | $ | 396.27 | 567,807 | $ | 101,552 | ||||||||||
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(1) | 3,014 shares were purchased as part of the Company’s employee stock purchase discount plan. During the fourth quarter, the shares were purchased at an average price of $398.48. |
(2) | From January 4, 2021 through February 18, 2021, the Company repurchased and retired an additional 65,870 shares of common stock for approximately $25.0 million, or an average price of $379.53 per share. |
Item 6. |
Selected Financial Data. |
Item 7. |
Management’s Discussion and Analysis of Financial Condition and Results of Operations. |
• | Global retail sales, excluding foreign currency impact (which includes total retail sales at Company-owned and franchised stores worldwide) increased 13.2% as compared to 2019. U.S. retail sales increased 17.6% and international retail sales, excluding foreign currency impact, increased 8.8% as compared to 2019. |
• | Same store sales increased 11.5% in our U.S. stores and increased 4.4% in our international stores. |
• | Our revenues increased 13.8%. |
• | Our income from operations increased 15.3%. |
• | Our net income increased 22.6%. |
• | Our diluted earnings per share increased 29.6%. |
• | The inclusion of the 53 rd week in 2020 positively impacted our results. |
2020 |
2019 |
2018 |
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U.S. stores |
17.6 | % | 6.9 | % | 11.2 | % | ||||||
International stores (excluding foreign currency impact) |
8.8 | % | 9.0 | % | 10.4 | % | ||||||
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Total (excluding foreign currency impact) |
13.2 | % | 8.0 | % | 10.8 | % |
2020 |
2019 |
2018 |
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U.S. Company-owned stores |
11.0 | % | 2.8 | % | 4.8 | % | ||||||
U.S. franchise stores |
11.5 | % | 3.2 | % | 6.8 | % | ||||||
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U.S. stores |
11.5 | % | 3.2 | % | 6.6 | % | ||||||
International stores (excluding foreign currency impact) |
4.4 | % | 1.9 | % | 3.5 | % |
U.S. Company- owned Stores |
U.S. Franchise Stores |
Total U.S. Stores |
International Stores |
Total |
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Store count at December 31, 2017 |
392 | 5,195 | 5,587 | 9,269 | 14,856 | |||||||||||||||
Openings |
12 | 255 | 267 | 916 | 1,183 | |||||||||||||||
Closings |
— | (9 | ) | (9 | ) | (116 | ) | (125 | ) | |||||||||||
Transfers (1) |
(14 | ) | 45 | 31 | (31 | ) | — | |||||||||||||
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Store count at December 30, 2018 |
390 | 5,486 | 5,876 | 10,038 | 15,914 | |||||||||||||||
Openings |
12 | 253 | 265 | 939 | 1,204 | |||||||||||||||
Closings |
(1 | ) | (14 | ) | (15 | ) | (83 | ) | (98 | ) | ||||||||||
Transfers |
(59 | ) | 59 | — | — | — | ||||||||||||||
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Store count at December 29, 2019 |
342 | 5,784 | 6,126 | 10,894 | 17,020 | |||||||||||||||
Openings |
22 | 218 | 240 | 718 | 958 | |||||||||||||||
Closings |
(1 | ) | (10 | ) | (11 | ) | (323 | ) | (334 | ) | ||||||||||
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Store count at January 3, 2021 |
363 | 5,992 | 6,355 | 11,289 | 17,644 | |||||||||||||||
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(1) | In 2018, we began managing our franchised stores in Alaska and Hawaii as part of our U.S. Stores segment. Prior to 2018, store counts from these franchised stores were included in our international stores in the table above. |
2020 |
2019 |
2018 |
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U.S. Company-owned stores |
$ | 485.6 | $ | 453.6 | $ | 514.8 | ||||||||||||||||||
U.S. franchise royalties and fees |
503.2 | 428.5 | 391.5 | |||||||||||||||||||||
Supply chain |
2,416.7 | 2,104.9 | 1,943.3 | |||||||||||||||||||||
International franchise royalties and fees |
249.8 | 241.0 | 224.7 | |||||||||||||||||||||
U.S. franchise advertising |
462.2 | 390.8 | 358.5 | |||||||||||||||||||||
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Total revenues |
4,117.4 | 100.0 | % | 3,618.8 | 100.0 | % | 3,432.9 | 100.0 | % | |||||||||||||||
U.S. Company-owned stores |
379.6 | 346.2 | 398.2 | |||||||||||||||||||||
Supply chain |
2,143.3 | 1,870.1 | 1,732.0 | |||||||||||||||||||||
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Total cost of sales |
2,522.9 | 61.3 | % | 2,216.3 | 61.2 | % | 2,130.2 | 62.1 | % | |||||||||||||||
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Operating margin |
1,594.5 | 38.7 | % | 1,402.5 | 38.8 | % | 1,302.7 | 37.9 | % | |||||||||||||||
General and administrative |
406.6 | 9.9 | % | 382.3 | 10.6 | % | 372.5 | 10.8 | % | |||||||||||||||
U.S. franchise advertising |
462.2 | 11.2 | % | 390.8 | 10.8 | % | 358.5 | 10.4 | % | |||||||||||||||
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Income from operations |
725.6 | 17.6 | % | 629.4 | 17.4 | % | 571.7 | 16.7 | % | |||||||||||||||
Interest expense, net |
(170.5 | ) | (4.1 | )% | (146.8 | ) | (4.1 | )% | (143.0 | ) | (4.2 | )% | ||||||||||||
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Income before provision for income taxes |
555.1 | 13.5 | % | 482.6 | 13.3 | % | 428.7 | 12.5 | % | |||||||||||||||
Provision for income taxes |
63.8 | 1.6 | % | 81.9 | 2.3 | % | 66.7 | 2.0 | % | |||||||||||||||
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Net income |
$ | 491.3 | 11.9 | % | $ | 400.7 | 11.1 | % | $ | 362.0 | 10.5 | % | ||||||||||||
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2020 |
2019 |
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U.S. Company-owned stores |
$ | 485.6 | 11.8 | % | $ | 453.6 | 12.5 | % | ||||||||
U.S. franchise royalties and fees |
503.2 | 12.2 | % | 428.5 | 11.8 | % | ||||||||||
Supply Chain |
2,416.7 | 58.7 | % | 2,104.9 | 58.2 | % | ||||||||||
International franchise royalties and fees |
249.8 | 6.1 | % | 241.0 | 6.7 | % | ||||||||||
U.S. franchise advertising |
462.2 | 11.2 | % | 390.8 | 10.8 | % | ||||||||||
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Total revenues |
$ | 4,117.4 | 100.0 | % | $ | 3,618.8 | 100.0 | % | ||||||||
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2020 |
2019 |
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U.S. Company-owned stores |
$ | 485.6 | 33.4 | % | $ | 453.6 | 35.6 | % | ||||||||
U.S. franchise royalties and fees |
503.2 | 34.7 | % | 428.5 | 33.7 | % | ||||||||||
U.S. franchise advertising |
462.2 | 31.9 | % | 390.8 | 30.7 | % | ||||||||||
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Total U.S. stores revenues |
$ | 1,451.0 | 100.0 | % | $ | 1,272.9 | 100.0 | % | ||||||||
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2020 |
2019 |
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Consolidated revenues |
$ | 4,117.4 | 100.0 | % | $ | 3,618.8 | 100.0 | % | ||||||||
Consolidated cost of sales |
2,522.9 | 61.3 | % | 2,216.3 | 61.2 | % | ||||||||||
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Consolidated operating margin |
$ | 1,594.5 | 38.7 | % | $ | 1,402.5 | 38.8 | % | ||||||||
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2020 |
2019 |
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Revenues |
$ | 485.6 | 100.0 | % | $ | 453.6 | 100.0 | % | ||||||||
Cost of sales |
379.6 | 78.2 | % | 346.2 | 76.3 | % | ||||||||||
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Store operating margin |
$ | 106.0 | 21.8 | % | $ | 107.4 | 23.7 | % | ||||||||
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• | Food costs decreased 0.1 percentage points to 27.0% in 2020, due primarily to the leveraging of higher same store sales. This decrease was partially offset by higher food prices. |
• | Labor costs increased 1.9 percentage points to 30.9% in 2020, due primarily to additional compensation expense for frontline team members during the COVID-19 pandemic. These increases were partially offset by reduced labor costs as a percentage of store revenues resulting from the 2019 Store Sale due to the higher labor rates in the market in which the sold stores operated. |
2020 |
2019 |
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Revenues |
$ | 2,416.7 | 100.0 | % | $ | 2,104.9 | 100.0 | % | ||||||||
Cost of sales |
2,143.3 | 88.7 | % | 1,870.1 | 88.8 | % | ||||||||||
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Supply chain operating margin |
$ | 273.3 | 11.3 | % | $ | 234.8 | 11.2 | % | ||||||||
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2020 |
2019 |
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U.S. Stores |
$ | 435.1 | $ | 361.7 | ||||
Supply Chain |
238.4 | 199.8 | ||||||
International Franchise |
197.6 | 187.3 | ||||||
Other |
(53.3 | ) | (36.7 | ) |
Fiscal Year Ended |
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(In millions) |
January 3, 2021 |
December 29, 2019 |
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Cash Flows Provided By (Used In) |
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Net cash provided by operating activities |
$ | 592.8 | $ | 497.0 | ||||
Net cash used in investing activities |
(128.9 | ) | (27.9 | ) | ||||
Net cash used in financing activities |
(446.4 | ) | (222.8 | ) | ||||
Exchange rate changes |
0.8 | 0.2 | ||||||
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Change in cash and cash equivalents, restricted cash and cash equivalents |
$ | 18.2 | $ | 246.5 | ||||
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• | our substantial increased indebtedness as a result of the 2019 Recapitalization, 2018 Recapitalization, 2017 Recapitalization and 2015 Recapitalization and our ability to incur additional indebtedness or refinance or renegotiate key terms of that indebtedness in the future; |
• | the impact a downgrade in our credit rating may have on our business, financial condition and results of operations; |
• | our future financial performance and our ability to pay principal and interest on our indebtedness; |
• | our ability to manage difficulties associated with or related to the COVID-19 pandemic and the effects of COVID-19 on our business and supply chain; |
• | the effectiveness of our advertising, operations and promotional initiatives; |
• | the strength of our brand, including our ability to compete in the U.S. and internationally in our intensely competitive industry, including the food service and food delivery markets; |
• | the impact of social media and other consumer-oriented technologies on our business, brand and reputation; |
• | the impact of new or improved technologies and alternative methods of delivery on consumer behavior; |
• | new product, digital ordering and concept developments by us, and other food-industry competitors; |
• | our ability to maintain good relationships with and attract new franchisees and franchisees’ ability to successfully manage their operations without negatively impacting our royalty payments and fees or our brand’s reputation; |
• | our ability to successfully implement cost-saving strategies; |
• | our ability and that of our franchisees to successfully operate in the current and future credit environment; |
• | changes in the level of consumer spending given general economic conditions, including interest rates, energy prices and consumer confidence; |
• | our ability and that of our franchisees to open new restaurants and keep existing restaurants in operation; |
• | changes in operating expenses resulting from changes in prices of food (particularly cheese), fuel and other commodity costs, labor, utilities, insurance, employee benefits and other operating costs; |
• | the impact that widespread illness, health epidemics or general health concerns, severe weather conditions and natural disasters may have on our business and the economies of the countries where we operate; |
• | changes in foreign currency exchange rates; |
• | changes in income tax rates; |
• | our ability to retain or replace our executive officers and other key members of management and our ability to adequately staff our stores and supply chain centers with qualified personnel; |
• | our ability to find and/or retain suitable real estate for our stores and supply chain centers; |
• | changes in government legislation or regulation, including changes in laws and regulations regarding information privacy, payment methods and consumer protection and social media; |
• | adverse legal judgments or settlements; |
• | food-borne illness or contamination of products; |
• | data breaches, power loss, technological failures, user error or other cyber risks threatening us or our franchisees; |
• | the effect of war, terrorism, catastrophic events or climate change; |
• | our ability to pay dividends and repurchase shares; |
• | changes in consumer taste, spending and traffic patterns and demographic trends; |
• | actions by activist investors; |
• | changes in accounting policies; and |
• | adequacy of our insurance coverage. |
Item 7A. |
Quantitative and Qualitative Disclosures About Market Risk. |
Item 8. |
Financial Statements and Supplementary Data. |
January 3, |
December 29, |
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2021 |
2019 |
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Assets |
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Current assets: |
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Cash and cash equivalents |
$ | $ | ||||||
Restricted cash and cash equivalents |
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Accounts receivable, net of reserves of $ |
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Inventories |
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Prepaid expenses and other |
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Advertising fund assets, restricted |
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Total current assets |
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Property, plant and equipment: |
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Land and buildings |
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Leasehold and other improvements |
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Equipment |
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Construction in progress |
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Accumulated depreciation and amortization |
( |
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Property, plant and equipment, net |
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Other assets: |
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Operating lease right-of-use |
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Investments in marketable securities, restricted |
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Goodwill |
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Capitalized software, net of accumulated amortization of $ |
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Other assets |
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Deferred income taxes |
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Total other assets |
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Total assets |
$ | $ | ||||||
Liabilities and stockholders’ deficit |
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Current liabilities: |
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Current portion of long-term debt |
$ | $ | ||||||
Accounts payable |
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Accrued compensation |
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Accrued interest |
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Operating lease liabilities |
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Insurance reserves |
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Advertising fund liabilities |
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Other accrued liabilities |
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Total current liabilities |
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Long-term liabilities: |
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Long-term debt, less current portion |
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Operating lease liabilities |
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Insurance reserves |
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Deferred income taxes |
— | |||||||
Other accrued liabilities |
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Total long-term liabilities |
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Total liabilities |
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Commitments and contingencies |
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Stockholders’ deficit |
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Common stock, par value $ |
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Preferred stock, par value $ |
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Additional paid-in capital |
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Retained deficit |
( |
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Accumulated other comprehensive loss |
( |
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Total stockholders’ deficit |
( |
) | ( |
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Total liabilities and stockholders’ deficit |
$ | $ | ||||||
For the Years Ended |
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January 3, |
December 29, |
December 30, |
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2021 |
2019 |
2018 |
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Revenues: |
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U.S. Company-owned stores |
$ | $ | $ | |||||||||
U.S. franchise royalties and fees |
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Supply chain |
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International franchise royalties and fees |
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U.S. franchise advertising |
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Total revenues |
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Cost of sales: |
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U.S. Company-owned stores |
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Supply chain |
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Total cost of sales |
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Operating margin |
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|||||||
General and administrative |
||||||||||||
U.S. franchise advertising |
||||||||||||
|
|
|
|
|
|
|||||||
Income from operations |
||||||||||||
Interest income |
||||||||||||
Interest expense |
( |
) | ( |
) | ( |
) | ||||||
|
|
|
|
|
|
|||||||
Income before provision for income taxes |
||||||||||||
Provision for income taxes |
||||||||||||
|
|
|
|
|
|
|||||||
Net income |
$ | $ | $ | |||||||||
|
|
|
|
|
|
|||||||
Earnings per share: |
||||||||||||
Common Stock – basic |
$ | $ | $ | |||||||||
Common Stock – diluted |
$ | $ | $ |
For the Years Ended |
||||||||||||
January 3, |
December 29, |
December 30, |
||||||||||
2021 |
2019 |
2018 |
||||||||||
Net income |
$ | $ | $ | |||||||||
Currency translation adjustment |
( |
) | ||||||||||
|
|
|
|
|
|
|||||||
Comprehensive income |
$ | $ | $ | |||||||||
|
|
|
|
|
|
Common Stock |
Additional |
Accumulated Other |
||||||||||||||||||
Paid-in |
Retained |
Comprehensive |
||||||||||||||||||
Shares |
Amount |
Capital |
Deficit |
Income (Loss) |
Balance at December 31, 2017 |
$ | $ | $ | ( |
) | $ | ( |
) | ||||||||||||
Net income |
— | — | — | — | ||||||||||||||||
Dividends declared on common stock and equivalents ($ |
— | — | — | ( |
) | — | ||||||||||||||
Issuance and cancellation of stock awards, net |
— | — | — | |||||||||||||||||
Tax payments for restricted stock upon vesting |
( |
) | — | ( |
) | — | — | |||||||||||||
Purchases of common stock |
( |
) | ( |
) | ( |
) | ( |
) | — | |||||||||||
Exercises of stock options |
— | — | ||||||||||||||||||
Non-cash equity-based compensation expense |
— | — | — | — | ||||||||||||||||
Adoption of ASC 606 (Note 1) |
— | — | — | ( |
) | — | ||||||||||||||
Currency translation adjustment |
— | — | — | — | ( |
) | ||||||||||||||
Reclassification adjustment for stranded taxes (Note 1) |
— | — | — | ( |
) | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Balance at December 30, 2018 |
( |
) | ( |
) | ||||||||||||||||
Net income |
— | — | — | — | ||||||||||||||||
Dividends declared on common stock and equivalents ($ |
— | — | — | ( |
) | — | ||||||||||||||
Issuance and cancellation of stock awards, net |
— | — | — | — | ||||||||||||||||
Tax payments for restricted stock upon vesting |
( |
) | — | ( |
) | — | — | |||||||||||||
Purchases of common stock |
( |
) | ( |
) | ( |
) | ( |
) | — | |||||||||||
Exercises of stock options |
— | — | ||||||||||||||||||
Non-cash equity-based compensation expense |
— | — | — | — | ||||||||||||||||
Currency translation adjustment |
— | — | — | — | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Balance at December 29, 2019 |
( |
) | ( |
) | ||||||||||||||||
Net income |
— | — | — | — | ||||||||||||||||
Dividends declared on common stock and equivalents ($ |
— | — | — | ( |
) | — | ||||||||||||||
Issuance and cancellation of stock awards, net |
— | — | — | — | ||||||||||||||||
Tax payments for restricted stock upon vesting |
( |
) | — | ( |
) | — | — | |||||||||||||
Purchases of common stock |
( |
) | ( |
) | ( |
) | ( |
) | — | |||||||||||
Exercises of stock options |
— | — | ||||||||||||||||||
Non-cash equity-based compensation expense |
— | — | — | — | ||||||||||||||||
Adoption of ASC 326 (Note 1) |
— | — |
— |
— |
||||||||||||||||
Currency translation adjustment |
— | — | — | — | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Balance at January 3, 2021 |
$ | $ | $ | ( |
) | $ | ( |
) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
For the Years Ended |
||||||||||||
January 3, |
December 29, |
December 30, |
||||||||||
2021 |
2019 |
2018 |
||||||||||
Cash flows from operating activities: |
||||||||||||
Net income |
$ | $ | $ | |||||||||
Adjustments to reconcile net income to net cash provided by operating activities: |
||||||||||||
Depreciation and amortization |
||||||||||||
Loss (gain) on sale/disposal of assets |
( |
) | ||||||||||
Amortization of debt issuance costs |
||||||||||||
Provision (benefit) for deferred income taxes |
( |
) | ( |
) | ||||||||
Non-cash equity-based compensation expense |
||||||||||||
Excess tax benefits from equity-based compensation |
( |
) | ( |
) | ( |
) | ||||||
Provision for losses on accounts and notes receivable |
||||||||||||
Changes in operating assets and liabilities: |
||||||||||||
Changes in accounts receivable |
( |
) | ( |
) | ( |
) | ||||||
Changes in inventories, prepaid expenses and other |
( |
) | ( |
) | ( |
) | ||||||
Changes in accounts payable and accrued liabilities |
||||||||||||
Changes in insurance reserves |
||||||||||||
Changes in operating lease assets and liabilities |
— | |||||||||||
Changes in advertising fund assets and liabilities, restricted |
( |
) | ( |
) | ||||||||
|
|
|
|
|
|
|||||||
Net cash provided by operating activities |
||||||||||||
|
|
|
|
|
|
|||||||
Cash flows from investing activities: |
||||||||||||
Capital expenditures |
( |
) | ( |
) | ( |
) | ||||||
Purchase of investments (Note 9) |
( |
) | — | — | ||||||||
Proceeds from sale of assets |
||||||||||||
Maturities of advertising fund investments, restricted |
— | |||||||||||
Purchases of advertising fund investments, restricted |
— | — | ( |
) | ||||||||
Purchases of franchise operations and other assets |
— | ( |
) | — | ||||||||
Other |
( |
) | ( |
) | ( |
) | ||||||
|
|
|
|
|
|
|||||||
Net cash used in investing activities |
( |
) | ( |
) | ( |
) | ||||||
|
|
|
|
|
|
|||||||
Cash flows from financing activities: |
||||||||||||
Proceeds from issuance of long-term debt |
||||||||||||
Repayments of long-term debt and finance lease obligations |
( |
) | ( |
) | ( |
) | ||||||
Proceeds from exercise of stock options |
||||||||||||
Purchases of common stock |
( |
) | ( |
) | ( |
) | ||||||
Tax payments for restricted stock upon vesting |
( |
) | ( |
) | ( |
) | ||||||
Payments of common stock dividends and equivalents |
( |
) | ( |
) | ( |
) | ||||||
Cash paid for financing costs |
— | ( |
) | ( |
) | |||||||
|
|
|
|
|
|
|||||||
Net cash used in financing activities |
( |
) | ( |
) | ( |
) | ||||||
|
|
|
|
|
|
|||||||
Effect of exchange rate changes on cash |
( |
) | ||||||||||
|
|
|
|
|
|
|||||||
Change in cash and cash equivalents, restricted cash and cash equivalents |
( |
) | ||||||||||
|
|
|
|
|
|
|||||||
Cash and cash equivalents, beginning of period |
||||||||||||
Restricted cash and cash equivalents, beginning of period |
||||||||||||
Cash and cash equivalents included in advertising fund assets, restricted, beginning of period |
||||||||||||
|
|
|
|
|
|
|||||||
Cash and cash equivalents, restricted cash and cash equivalents and cash and cash equivalents included in advertising fund assets, restricted, beginning of period |
||||||||||||
|
|
|
|
|
|
|||||||
Cash and cash equivalents, end of period |
||||||||||||
Restricted cash and cash equivalents, end of period |
||||||||||||
Cash and cash equivalents included in advertising fund assets, restricted, end of period |
||||||||||||
|
|
|
|
|
|
|||||||
Cash and cash equivalents, restricted cash and cash equivalents and cash and cash equivalents included in advertising fund assets, restricted, end of period |
$ | $ | $ | |||||||||
|
|
|
|
|
|
(1) |
Description of Business and Summary of Significant Accounting Policies |
2020 |
2019 |
|||||||
Food |
$ | $ | ||||||
Equipment and supplies |
||||||||
Inventories |
$ | $ | ||||||
Buildings |
||
Leasehold and other improvements |
– | |
Equipment |
– |
Fiscal Year Ended |
||||||||
January 3, 2021 |
December 29, 2019 |
|||||||
Deferred franchise fees and deferred development fees at beginning of period |
$ | $ | ||||||
Revenue recognized during the period |
( |
) | ( |
) | ||||
New deferrals due to cash received and other |
||||||||
Deferred franchise fees and deferred development fees at end of period |
$ | $ | ||||||
Balance at December 29, 2019 |
Adjustments Due to ASC 326 |
Balance at December 30, 2019 |
||||||||||
Assets |
||||||||||||
Current assets: |
||||||||||||
Accounts receivable, net |
$ | $ | $ | |||||||||
Prepaid expenses and other |
||||||||||||
Other assets: |
||||||||||||
Other assets |
||||||||||||
Deferred income taxes |
( |
) | ||||||||||
Liabilities and stockholders’ deficit |
||||||||||||
Stockholders’ deficit: |
||||||||||||
Retained deficit |
( |
) | ( |
) |
(2) |
Earnings per Share |
2020 |
2019 |
2018 |
||||||||||
Net income available to common stockholders – basic and diluted |
$ | $ | $ | |||||||||
Weighted average number of common shares |
||||||||||||
Earnings per common share – basic |
$ | $ | $ | |||||||||
Diluted weighted average number of common shares |
||||||||||||
Earnings per common share – diluted |
$ | $ | $ |
(3) |
Fair Value Measurements |
At January 3, 2021 |
||||||||||||||||
Fair Value Estimated Using |
||||||||||||||||
Carrying Amount |
Level 1 Inputs |
Level 2 Inputs |
Level 3 Inputs |
|||||||||||||
Cash equivalents |
$ | $ | $ | — | $ | — | ||||||||||
Restricted cash equivalents |
— | — | ||||||||||||||
Investments in marketable securities |
— | — | ||||||||||||||
Advertising fund cash equivalents, restricted |
— | — | ||||||||||||||
Investments (Note 9) |
— | — |
At December 29, 2019 |
||||||||||||||||
Fair Value Estimated Using |
||||||||||||||||
Carrying |
Level 1 |
Level 2 |
Level 3 |
|||||||||||||
Amount |
Inputs |
Inputs |
Inputs |
|||||||||||||
Cash equivalents |
$ | $ | $ | — | $ | — | ||||||||||
Restricted cash equivalents |
— | — | ||||||||||||||
Investments in marketable securities |
— | — | ||||||||||||||
Advertising fund cash equivalents, restricted |
— | — |
2020 |
2019 |
|||||||
2015 Ten-Year Fixed Rate Notes |
$ | $ | ||||||
2017 Five-Year Fixed Rate Notes |
||||||||
2017 Ten-Year Fixed Rate Notes |
||||||||
2017 Five-Year Floating Rate Notes |
||||||||
2018 7.5-Year Fixed Rate Notes |
||||||||
2018 9.25-Year Fixed Rate Notes |
||||||||
2019 Ten-Year Fixed Rate Notes |
||||||||
Finance lease obligations |
||||||||
Debt issuance costs, net of accumulated amortization of $ |
( |
) | ( |
) | ||||
|
|
|
|
|||||
Total debt |
||||||||
Less – current portion |
||||||||
|
|
|
|
|||||
Consolidated long-term debt, net of debt issuance costs |
$ | $ | ||||||
|
|
|
|
2021 |
$ | |||
2022 |
||||
2023 |
||||
2024 |
||||
2025 |
||||
Thereafter |
||||
|
|
|||
$ | ||||
|
|
January 3, 2021 |
December 29, 2019 |
|||||||||||||||
Principal Amount |
Fair Value |
Principal Amount |
Fair Value |
|||||||||||||
2015 Ten-Year Fixed Rate Notes |
$ | $ | $ | $ | ||||||||||||
2017 Five-Year Fixed Rate Notes |
||||||||||||||||
2017 Ten-Year Fixed Rate Notes |
||||||||||||||||
2017 Five-Year Floating Rate Notes |
||||||||||||||||
2018 7.5-Year Fixed Rate Notes |
||||||||||||||||
2018 9.25-Year Fixed Rate Notes |
||||||||||||||||
2019 Ten-Year Fixed Rate Notes |
Fiscal Year Ended |
||||||||
January 3, 2021 |
December 29, 2019 |
|||||||
Operating lease cost |
$ | $ | ||||||
Finance lease cost: |
||||||||
Amortization of right-of-use |
||||||||
Interest on lease liabilities |
||||||||
|
|
|
|
|||||
Total finance lease cost |
$ | $ | ||||||
|
|
|
|
January 3, |
December 29, |
|||||||
2021 |
2019 |
|||||||
Land and buildings |
$ | $ | ||||||
Accumulated depreciation and amortization |
( |
) | ( |
) | ||||
|
|
|
|
|||||
Finance lease assets, net |
$ | $ | ||||||
|
|
|
|
|||||
Current portion of long-term debt |
$ | $ | ||||||
Long-term debt, less current portion |
||||||||
|
|
|
|
|||||
Total principal payable on finance leases |
$ | $ | ||||||
|
|
|
|
January 3, 2021 |
December 29, 2019 |
|||||||||||||||
Operating |
Finance |
Operating |
Finance |
|||||||||||||
Leases |
Leases |
Leases |
Leases |
|||||||||||||
Weighted average remaining lease term |
||||||||||||||||
Weighted average discount rate |
% | % | % | % |
Fiscal Year Ended |
||||||||
January 3, 2021 |
December 29, 2019 |
|||||||
Cash paid for amounts included in the measurement of lease liabilities: |
||||||||
Operating cash flows from operating leases |
$ | $ | ||||||
Operating cash flows from finance leases |
||||||||
Financing cash flows from finance leases |
||||||||
Right-of-use |
||||||||
Operating leases |
||||||||
Finance leases |
Operating Leases |
Finance Leases |
|||||||
2021 |
$ | $ | ||||||
2022 |
||||||||
2023 |
||||||||
2024 |
||||||||
2025 |
||||||||
Thereafter |
||||||||
|
|
|
|
|||||
Total future minimum rental commitments |
||||||||
|
|
|
|
|||||
Less – amounts representing interest |
( |
) | ( |
) | ||||
|
|
|
|
|||||
Total lease liabilities |
$ | $ | ||||||
|
|
|
|
2020 |
2019 |
2018 |
||||||||||
U.S. |
$ | $ | $ | |||||||||
Foreign |
||||||||||||
Income before provision for income taxes |
$ | $ | $ | |||||||||
2020 |
2019 |
2018 |
||||||||||
Federal income tax provision based on the statutory rate |
$ | $ | $ | |||||||||
State and local income taxes, net of related Federal income taxes |
||||||||||||
Non-resident withholding and foreign income taxes |
||||||||||||
Foreign tax and other tax credits |
( |
) | ( |
) | ( |
) | ||||||
Foreign derived intangible income |
( |
) | ( |
) | ( |
) | ||||||
Excess tax benefits from equity-based compensation |
( |
) | ( |
) | ( |
) | ||||||
Non-deductible expenses, net |
||||||||||||
Unrecognized tax provision, net of related Federal income taxes |
||||||||||||
Other |
( |
) | ( |
) | ( |
) | ||||||
Provision for income taxes |
$ | $ | $ | |||||||||
2020 |
2019 |
2018 |
||||||||||
Provision for Federal income taxes |
||||||||||||
Current provision |
$ | $ | $ | |||||||||
Deferred provision (benefit) |
( |
) | ( |
) | ||||||||
Total provision for Federal income taxes |
||||||||||||
Provision for state and local income taxes |
||||||||||||
Current provision |
||||||||||||
Deferred provision (benefit) |
( |
) | ||||||||||
Total provision for state and local income taxes |
||||||||||||
Provision for non-resident withholding and foreign income taxes |
||||||||||||
Provision for income taxes |
$ | $ | $ | |||||||||
2020 |
2019 |
|||||||
Deferred income tax assets |
||||||||
Operating lease liabilities |
$ | $ | ||||||
Accruals and reserves |
||||||||
Insurance reserves |
||||||||
Non-cash equity-based compensation expense |
||||||||
Foreign tax credit |
||||||||
Other |
||||||||
Deferred income tax assets before valuation allowance |
||||||||
Less: Valuation allowance |
( |
) | ( |
) | ||||
Total deferred income tax assets |
||||||||
Deferred income tax liabilities |
||||||||
Operating lease right-of-use |
||||||||
Depreciation, amortization and asset basis differences |
||||||||
Capitalized software |
||||||||
Total deferred income tax liabilities |
||||||||
Net deferred income taxes |
$ | ( |
) | $ | ||||
2020 |
2019 |
2018 |
||||||||||
Unrecognized tax benefits at beginning of period |
$ | $ | $ | |||||||||
Additions for tax positions of current year |
||||||||||||
Additions for tax positions of prior years |
||||||||||||
Reductions for changes in prior year tax positions |
( |
) | ( |
) | ( |
) | ||||||
Reductions for lapses of applicable statute of limitations |
( |
) | ( |
) | ( |
) | ||||||
Unrecognized tax benefits at end of period |
$ | $ | $ | |||||||||
Common Stock Options |
||||||||||||||||
Outstanding |
Weighted Average Exercise Price |
Weighted Average Remaining Life |
Aggregate Intrinsic Value |
|||||||||||||
(Years) |
(In thousands) |
|||||||||||||||
Stock options at December 31, 2017 |
$ | |||||||||||||||
Stock options granted |
||||||||||||||||
Stock options cancelled |
( |
) | ||||||||||||||
Stock options exercised |
( |
) | ||||||||||||||
|
|
|
|
|||||||||||||
Stock options at December 30, 2018 |
$ | |||||||||||||||
Stock options granted |
||||||||||||||||
Stock options cancelled |
( |
) | ||||||||||||||
Stock options exercised |
( |
) | ||||||||||||||
|
|
|
|
|||||||||||||
Stock options at December 29, 2019 |
$ | |||||||||||||||
Stock options granted |
||||||||||||||||
Stock options cancelled |
( |
) | ||||||||||||||
Stock options exercised |
( |
) | ||||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Stock options at January 3, 2021 |
$ | $ | ||||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Exercisable at January 3, 2021 |
$ | $ | ||||||||||||||
|
|
|
|
|
|
|
|
2020 |
2019 |
2018 |
||||||||||
Risk-free interest rate |
% | % | % | |||||||||
Expected life (years) |
||||||||||||
Expected volatility |
% | % | % | |||||||||
Expected dividend yield |
% | % | % | |||||||||
Weighted average fair value per stock option |
$ | $ | $ |
Shares |
Weighted Average Grant Date Fair Value (1) |
|||||||
Nonvested at December 31, 2017 |
$ | |||||||
Shares granted |
||||||||
Shares cancelled |
( |
) | ||||||
Shares vested |
( |
) | ||||||
|
|
|
|
|||||
Nonvested at December 30, 2018 |
$ | |||||||
Shares granted |
||||||||
Shares cancelled |
( |
) | ||||||
Shares vested |
( |
) | ||||||
|
|
|
|
|||||
Nonvested at December 29, 2019 |
$ | |||||||
Shares granted |
||||||||
Shares cancelled |
( |
) | ||||||
Shares vested |
( |
) | ||||||
|
|
|
|
|||||
Nonvested at January 3, 2021 |
$ | |||||||
|
|
|
|
(1) |
The weighted average grant date fair value for performance-based restricted shares granted was calculated based on the market price on the grant dates. Certain tranches will ultimately be valued when the performance condition is established for each tranche, which generally occurs in the fourth quarter of each fiscal year. |
2020 |
2019 |
|||||||
Voting |
||||||||
Non-Voting |
||||||||
|
|
|
|
|||||
Total Common Stock |
||||||||
|
|
|
|
U.S. Stores |
Supply Chain |
International Franchise |
Intersegment Revenues |
Other |
Total |
|||||||||||||||||||
Revenues- |
||||||||||||||||||||||||
2020 |
$ | $ | $ | $ | ( |
) | — | $ | ||||||||||||||||
2019 |
( |
) | — | |||||||||||||||||||||
2018 |
( |
) | — | |||||||||||||||||||||
Segment Income- |
||||||||||||||||||||||||
2020 |
$ | $ | $ | N/A | $ | ( |
) | $ | ||||||||||||||||
2019 |
N/A | ( |
) | |||||||||||||||||||||
2018 |
N/A | ( |
) | |||||||||||||||||||||
Capital Expenditures- |
||||||||||||||||||||||||
2020 |
$ | $ | — | N/A | $ | $ | ||||||||||||||||||
2019 |
N/A | |||||||||||||||||||||||
2018 |
N/A |
2020 |
2019 |
2018 |
||||||||||
Total Segment Income |
$ | $ | $ | |||||||||
Depreciation and amortization |
( |
) | ( |
) | ( |
) | ||||||
(Loss) gain on sale/disposal of assets |
( |
) | ( |
) | ||||||||
Non-cash equity-based compensation expense |
( |
) | ( |
) | ( |
) | ||||||
Recapitalization-related expenses |
— | ( |
) | ( |
) | |||||||
|
|
|
|
|
|
|||||||
Income from operations |
||||||||||||
Interest income |
||||||||||||
Interest expense |
( |
) | ( |
) | ( |
) | ||||||
|
|
|
|
|
|
|||||||
Income before provision for income taxes |
$ | $ | $ | |||||||||
|
|
|
|
|
|
2020 |
2019 |
|||||||
U.S. stores |
$ | $ | ||||||
U.S. supply chain |
||||||||
|
|
|
|
|||||
Total U.S. assets |
||||||||
International franchise |
||||||||
International supply chain |
||||||||
|
|
|
|
|||||
Total international assets |
||||||||
Unallocated |
||||||||
|
|
|
|
|||||
Total assets |
$ | $ | ||||||
|
|
|
|
2020 |
2019 |
|||||||
U.S. stores |
$ | $ | ||||||
Supply chain |
||||||||
|
|
|
|
|||||
Consolidated goodwill |
$ | $ | ||||||
|
|
|
|
Item 9. |
Changes in and Disagreements with Accountants on Accounting and Financial Disclosure. |
Item 9A. |
Controls and Procedures. |
Item 9B. |
Other Information. |
Item 10. |
Directors, Executive Officers and Corporate Governance. |
Name |
Age |
Position | ||
David A. Brandon |
68 |
Chairman of the Board of Directors | ||
Richard E. Allison, Jr. |
54 |
Chief Executive Officer and Director | ||
Stuart A. Levy |
49 |
Executive Vice President, Chief Financial Officer | ||
Russell J. Weiner |
52 |
Chief Operating Officer and President—Domino’s U.S. | ||
Thomas B. Curtis |
57 |
Executive Vice President, U.S. Operations and Support | ||
Arthur P. D’Elia |
43 |
Executive Vice President, Chief Marketing Officer | ||
Kelly E. Garcia |
45 |
Executive Vice President, Chief Technology Officer | ||
Cynthia A. Headen |
52 |
Executive Vice President, Supply Chain Services | ||
Joseph H. Jordan |
47 |
Executive Vice President, International | ||
Timothy P. McIntyre |
58 |
Executive Vice President, Communications and Legislative Affairs | ||
Kevin S. Morris |
60 |
Executive Vice President, General Counsel and Corporate Secretary | ||
Lisa V. Price |
48 |
Executive Vice President, Chief Human Resources Officer | ||
C. Andrew Ballard |
48 |
Director | ||
Andrew B. Balson |
54 |
Director | ||
Corie S. Barry |
45 |
Director | ||
Diana F. Cantor |
63 |
Director | ||
Richard L. Federico |
66 |
Director | ||
James A. Goldman |
62 |
Director | ||
Patricia E. Lopez |
59 |
Director |
Item 11. |
Executive Compensation. |
Item 12. |
Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters. |
Item 13. |
Certain Relationships and Related Transactions, and Director Independence. |
Item 14. |
Principal Accountant Fees and Services. |
Item 15. |
Exhibits, Financial Statement Schedules. |
(a)1. |
Financial Statements: The following financial statements for Domino’s Pizza, Inc. and subsidiaries are included in Item 8, “Financial Statements and Supplementary Data”: |
2. |
Financial Statement Schedules: The following financial statement schedule is attached to this report. |
3. |
Exhibits: Certain of the following Exhibits have been previously filed with the Securities and Exchange Commission pursuant to the requirements of the Securities Act of 1933 and the Securities Exchange Act of 1934. Such exhibits are identified by the parenthetical references following the listing of each such exhibit and are incorporated herein by reference. |
Exhibit Number |
Description | |
3.1 |
||
3.2 |
||
3.3 |
||
4.1 |
||
10.1 |
||
10.2 |
||
10.3 |
||
10.4 |
||
10.5 |
101.LAB |
Inline XBRL Taxonomy Extension Label Linkbase Document. | |
101.PRE |
Inline XBRL Taxonomy Extension Presentation Linkbase Document. | |
101.DEF |
Inline XBRL Taxonomy Extension Definition Linkbase Document. | |
104 |
Cover page Interactive Data File (formatted as Inline XBRL and contained in exhibit 101). |
* |
A management contract or compensatory plan or arrangement required to be filed as an exhibit to this report pursuant to Item 15(b) of Form 10-K. |
January 3, |
December 29, |
|||||||
2021 |
2019 |
|||||||
ASSETS |
||||||||
ASSETS: |
||||||||
Cash |
$ | $ | ||||||
|
|
|
|
|||||
Total assets |
$ | $ | ||||||
|
|
|
|
|||||
LIABILITIES AND STOCKHOLDERS’ DEFICIT |
||||||||
LIABILITIES: |
||||||||
Equity in net deficit of subsidiaries |
$ | $ | ||||||
Due to subsidiary |
||||||||
|
|
|
|
|||||
Total liabilities |
||||||||
|
|
|
|
|||||
STOCKHOLDERS’ DEFICIT: |
||||||||
Common stock, par value $ |
||||||||
Preferred stock, par value $ |
— | |||||||
Additional paid-in capital |
||||||||
Retained deficit |
( |
) | ( |
) | ||||
Accumulated other comprehensive loss |
( |
) | ( |
) | ||||
|
|
|
|
|||||
Total stockholders’ deficit |
( |
) | ( |
) | ||||
|
|
|
|
|||||
Total liabilities and stockholders’ deficit |
$ | $ | ||||||
|
|
|
|
For the Years Ended |
||||||||||||
January 3, |
December 29, |
December 30, |
||||||||||
2021 |
2019 |
2018 |
||||||||||
REVENUES |
$ | $ | $ | |||||||||
|
|
|
|
|
|
|||||||
Total revenues |
||||||||||||
|
|
|
|
|
|
|||||||
OPERATING EXPENSES |
||||||||||||
|
|
|
|
|
|
|||||||
Total operating expenses |
||||||||||||
|
|
|
|
|
|
|||||||
INCOME FROM OPERATIONS |
||||||||||||
Equity earnings in subsidiaries |
||||||||||||
|
|
|
|
|
|
|||||||
INCOME BEFORE PROVISION FOR INCOME TAXES |
||||||||||||
PROVISION FOR INCOME TAXES |
||||||||||||
|
|
|
|
|
|
|||||||
NET INCOME |
$ | $ | $ | |||||||||
|
|
|
|
|
|
|||||||
COMPREHENSIVE INCOME |
$ | $ | $ | |||||||||
|
|
|
|
|
|
|||||||
EARNINGS PER SHARE: |
||||||||||||
Common Stock – basic |
$ | $ | $ | |||||||||
Common Stock – diluted |
$ | $ | $ |
For the Years Ended |
||||||||||||
January 3, |
December 29, |
December 30, |
||||||||||
2021 |
2019 |
2018 |
||||||||||
CASH FLOWS FROM OPERATING ACTIVITIES: |
||||||||||||
Net cash provided by operating activities |
$ | $ | $ | |||||||||
CASH FLOWS FROM INVESTING ACTIVITIES: |
||||||||||||
D |
||||||||||||
Net cash provided by investing activities |
||||||||||||
CASH FLOWS FROM FINANCING ACTIVITIES: |
||||||||||||
Payments of common stock dividends and equivalents |
( |
) | ( |
) | ( |
) | ||||||
Purchases of common stock |
( |
) | ( |
) | ( |
) | ||||||
Other |
||||||||||||
Net cash used in financing activities |
( |
) | ( |
) | ( |
) | ||||||
CHANGE IN CASH |
||||||||||||
CASH, AT BEGINNING OF PERIOD |
||||||||||||
CASH, AT END OF PERIOD |
$ | $ | $ | |||||||||
(1) |
Introduction and Basis of Presentation |
(2) |
Supplemental Disclosures of Cash Flow Information |
Item 16. |
Form 10-K Summary. |
DOMINO’S PIZZA, INC. |
/s/ Stuart A. Levy |
Stuart A. Levy |
Executive Vice President, Chief Financial Officer |
(Principal Financial Officer) |
February 25, 2021 |
/s/ Richard E. Allison, Jr. |
||||
Richard E. Allison, Jr. |
Chief Executive Officer and Director | |||
February 25, 2021 |
(Principal Executive Officer) | |||
/s/ Stuart A. Levy |
||||
Stuart A. Levy |
Executive Vice President, Chief Financial Officer | |||
February 25, 2021 |
(Principal Financial Officer) | |||
/s/ Jessica L. Parrish |
||||
Jessica L. Parrish |
Vice President, Corporate Controller | |||
February 25, 2021 |
||||
/s/ David A. Brandon |
||||
David A. Brandon |
Chairman of the Board of Directors | |||
February 25, 2021 |
||||
/s/ C. Andrew Ballard |
||||
C. Andrew Ballard |
Director | |||
February 25, 2021 |
||||
/s/ Andrew B. Balson |
||||
Andrew B. Balson |
Director | |||
February 25, 2021 |
||||
/s/ Corie S. Barry |
||||
Corie S. Barry |
Director | |||
February 25, 2021 |
||||
/s/ Diana F. Cantor |
||||
Diana F. Cantor |
Director | |||
February 25, 2021 |
||||
/s/ Richard L. Federico |
||||
Richard L. Federico |
Director | |||
February 25, 2021 |
||||
/s/ James A. Goldman |
||||
James A. Goldman |
Director | |||
February 25, 2021 |
||||
/s/ Patricia E. Lopez |
||||
Patricia E. Lopez |
Director | |||
February 25, 2021 |