What changed in this filing

/stocks — the workspaceLOADING

Item 2. Properties

2023-02-23 compared with 2022-02-24 · 57 added, 4 removed, 28 unchanged (69% of the section changed)

3 unchanged sentences

North America Restaurants:

Franchised Total

Alabama 3 88 91

Alaska — 10 10

Arizona — 67 67

Arkansas — 28 28

California — 175 175

Colorado — 47 47

Connecticut — 5 5

Delaware — 17 17

District of Columbia — 10 10

Florida 41 259 300

Georgia 90 98 188

Hawaii — 17 17

Idaho — 14 14

Illinois 8 72 80

Indiana 44 92 136

Kansas 16 19 35

Kentucky 42 64 106

Louisiana — 60 60

Maryland 60 42 102

Massachusetts — 7 7

Michigan — 32 32

Minnesota — 35 35

Mississippi — 34 34

Missouri 41 27 68

Montana — 9 9

Nebraska — 13 13

Nevada — 25 25

New Hampshire — 3 3

New Jersey — 54 54

New Mexico — 17 17

New York — 85 85

North Carolina 104 80 184

North Dakota — 10 10

Ohio — 161 161

Oklahoma — 36 36

Oregon — 14 14

Pennsylvania — 84 84

Rhode Island — 2 2

South Carolina 9 77 86

South Dakota — 10 10

Tennessee 38 80 118

Texas — 302 302

Virginia 26 119 145

Washington — 43 43

West Virginia — 23 23

Wisconsin — 25 25

Wyoming — 8 8

Papa John’s Restaurants 522 2,658 3,180

Canada — 196 196

Total North America Papa John’s Restaurants 522 2,854 3,376

(1) Company-owned Papa John’s restaurants include restaurants owned by majority-owned subsidiaries.

There were 188 such restaurants at December 26, 2021 (60 in Maryland, 90 in Texas, 26 in Virginia, and 12 in Georgia).

______________________________

(a) Company-owned Papa John’s restaurants include re staurants owned by majority-owned subsidiaries.

There were 98 such restaurants at December 25, 2022 (60 in Maryland, 26 in Virginia, and 12 in G eorgia).

International Restaurants:

Azerbaijan 13

Cayman Islands 2

Costa Rica 51

Dominican Republic 19

El Salvador 36

Netherlands 32

Philippines 15

Puerto Rico 26

Saudi Arabia 20

South Korea 241

United Arab Emirates 82

8 unchanged sentences

Our corporate office and our printing operations located in Louisville, KY are in buildings owned by us.

We also maintain a Company-owned office and a full-service QC Center outside of London, United Kingdom (“UK”), where our international operations are managed.

We also maintain a Company-owned office and a full-service QC Center outside of London, UK, where our International operations are managed.

At December 25, 2022, we leased and subleased approximately 442 Papa John’s restaurant sites to franchisees in the UK.

The initial lease terms on the franchised sites in the UK are generally 15 years.

The Company has the option to negotiate an extension toward the end of the lease term at the landlord’s discretion.

The initial lease terms of the franchisee subleases are generally five to ten years.

See “Note 3” of “Notes to Consolidated Financial Statements” for additional information.

Leases” of “Notes to Consolidated Financial Statements” for additional information.

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 2. Properties