−Removed: As of December 31, 2023, there were 5,906 Papa John’s restaurants worldwide.
+Added: As of December 29, 2024, there were 6,030 Papa Johns restaurants worldwide.
The following tables provide the locations of our restaurants.
60 unchanged sentences
Bolivia — 5 5
+Added: Bulgaria — 2 2
Cambodia — 7 7
40 unchanged sentences
The initial term of most Domestic restaurant leases is five years with most leases providing for one or more options to renew for at least one additional term.
−Removed: Generally, the leases are triple net leases, which require us to pay all or a portion of the cost of insurance, taxes and utilities.
−Removed: result of assigning our interest in obligations under property leases as a condition of the refranchising of certain restaurants, we are also contingently liable for payment of approximately 48 Domestic leases.
−Removed: Our corporate office in Atlanta, Georgia, is located in a leased space.
−Removed: Nine of our 12 North America QC Centers are located in leased spaces, with the remaining three QC Centers located in buildings we own.
−Removed: Our corporate office located in Louisville, Kentucky is in a building owned by us.
+Added: the leases are triple net leases, which require us to pay all or a portion of the cost of insurance, taxes and utilities.
+Added: As a result of assigning our interest in obligations under property leases as a condition of the refranchising of certain restaurants, we are also contingently liable for payment of approximately 81 Domestic leases.
+Added: Our restaurant support center in Atlanta, Georgia, is located in a leased space.
+Added: 11 of our 12 North America QC Centers are located in leased spaces, with the remaining QC Center located in a building we own.
+Added: Our restaurant support center located in Louisville, Kentucky is in a building owned by us.
We also maintain a Company-owned office and a full-service QC Center outside of London, UK, where our International operations are managed.
−Removed: As of the fourth quarter of 2023, we leased the building of our previously-owned printing operations located in Louisville to a third-party.
−Removed: S ee “Note 22.
−Removed: Divestitures” of “ Notes to Consolidated Financial Statements ” for additional information.
At December 29, 2024, we leased and subleased approximately 350 Papa John’s restaurant sites to franchisees in the UK.
−Removed: The initial lease terms on the franchised sites in the UK are generally 15 years.
+Added: The initial lease terms on the franchised sites in the UK are generally 15 years, many of which have an early break-lease provision.
The Company has the option to negotiate an extension toward the end of the lease term at the landlord’s discretion.
2 unchanged sentences
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.