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TableofContents
SECURITIES AND EXCHANGE COMMISSIONWashington, D.C. 20549
FORM 10-K 
(MarkOne)[X]AnnualreportpursuanttoSection13or15(d)oftheSecuritiesExchangeActof1934
ForthefiscalyearendedDecember 28, 2008OR 
 
[ ]TransitionreportpursuanttoSection13or15(d)oftheSecuritiesExchangeActof1934
CommissionFileNumber 001-32242
Domino’sPizza,Inc.
(Exact name of registrant as specified in its charter)
 
DELAWARE
 
38-2511577
(State or other jurisdiction of         incorporation or organization) (I.R.S. employer Identification number)
30FrankLloydWrightDriveAnnArbor,Michigan 48106
(Address of principal executive offices)
(734) 930-3030
(Registrant’s telephone number, including area code)
Securities registeredpursuanttoSection12(b)oftheExchangeAct:
 
Titleofeachclass:
 
  Nameofeachexchange on which registered:Domino’sPizza,Inc.
 
  NewYorkStockExchangeCommonStock,$0.01parvalue
 
Securities registeredpursuanttoSection12(g)oftheExchangeAct:
  NoneIndicatebycheckmarkiftheregistrantisawell-knownseasonedissuer(asdefinedinRule405oftheAct):Yes[ ]No[X]IndicatebycheckmarkiftheregistrantisnotrequiredtofilereportspursuanttoSection13orSection15(d)oftheAct:Yes[ ]No[X]Indicatebycheckmarkwhethertheregistrant(1)filedallreportsrequiredtobefiledbySection13or15(d)oftheSecuritiesExchange Act of         1934duringthepreceding12months (or for such shorter period that the registrant was required to file such reports), and (2) has been subjecttosuchfilingrequirements for the past 90 days: Yes[X]No[ ]IndicatebycheckmarkifdisclosureofdelinquentfilerspursuanttoItem405ofRegulationS-Kisnotcontainedherein,andwillnotbecontained,tothebestofregistrant’sknowledge,indefinitiveproxyorinformation statementsincorporatedbyreferenceinPartIIIofthisForm10-Koranyamendment to this Form10-K:[X]Indicatebycheckmarkwhethertheregistrantisashellcompany(asdefinedinRule12b-2oftheAct):Yes[]No[X]Indicatebycheckmarkwhethertheregistrantisalargeacceleratedfiler,anacceleratedfiler,anon-acceleratedfiler,orasmallerreportingcompany(asdefinedinRule12b-2oftheExchangeAct):Checkone:Largeacceleratedfiler[X]Acceleratedfiler[ ]Non-acceleratedfiler[ ]Smallerreportingcompany[ ]The aggregate marketvalueofthevotingandnon-votingstockheldbynon-affiliatesofDomino’sPizza,Inc.asofJune15,2008computed byreferencetotheclosingpriceofDomino’sPizza,Inc.’sCommonStockontheNewYorkStockExchangeonsuchdatewas$523,471,468.AsofFebruary17,2009,Domino’sPizza,Inc.had57,177,117sharesofCommonStock,parvalue$0.01pershare,outstanding.
Documentsincorporatedbyreference:
Portionsofthedefinitiveproxy statement to be furnished to shareholders of Domino’sPizza,Inc.inconnectionwiththeannualmeetingof         shareholderstobeheldonApril28,2009areincorporatedbyreferenceintoPartIII.
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TableofContentsTABLEOFCONTENTS
 
Page No.
 
PartI
 
Item1.
 
Business.
 
2Item1A.
 
RiskFactors.
 
15Item1B.
 
UnresolvedStaffComments.
 
21Item2.
 
Properties.
 
22Item3.
 
LegalProceedings.
 
22Item4.
 
Submission of Matters to a VoteofSecurityHolders.
 
22
 
PartII
 
Item5.
 
MarketforRegistrant’sCommonEquity,RelatedStockholderMattersandIssuerPurchasesofEquitySecurities.
 
23Item6.
 
SelectedFinancialData.
 
25Item7.
 
Management’s Discussion and Analysis of Financial Condition and Results of Operations.
 
27Item7A.
 
QuantitativeandQualitativeDisclosuresAboutMarketRisk.
 
41Item8.
 
FinancialStatements and SupplementaryData.
 
42Item9.
 
Changes in and Disagreements with Accountants on Accounting and Financial Disclosure.
 
71Item9A.
 
Controls and Procedures.
 
71Item9B.
 
OtherInformation.
 
71
 
PartIII
 
Item10.
 
DirectorsandExecutiveOfficersoftheRegistrants.
 
72Item11.
 
ExecutiveCompensation.
 
74Item12.
 
SecurityOwnershipofCertainBeneficialOwnersandManagementandRelatedStockholderMatters.
 
74Item13.
 
CertainRelationshipsandRelatedTransactions.
 
74Item14.
 
PrincipalAccountantFeesandServices.
 
74
 
PartIV
 
Item15.
 
ExhibitsandFinancialStatement Schedules.
 
74
SIGNATURES
 
84
 
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TableofContentsPartIItem1.Business.
Overview
Domino’sPizza,Inc.(referredtoasthe“Company,” “Domino’s” or in the first person notations of “we,” “us” and “our”) is the number one pizzadeliverycompany in the United States, based on reported consumer spending, and hasa leading presence internationally. On average,over one million pizzas are sold each day throughout the system,withdeliveriescoveringapproximately ten millionmilesperweek.We pioneeredthepizzadeliverybusinessandhavebuilttheDomino’sPizza
®
 brand into one of the most widely recognized consumer brands inthe world. Together with our franchisees, we have supported the Domino’sPizza
®
 brandwithanestimated$1.4billionindomestic advertisingspendingoverthepastfiveyears.Weoperatethroughanetworkof8,773Company-owned and franchise stores, located in all 50 states and inmorethan60countries.Inaddition,weoperate17regionaldoughmanufacturing and supply chain centers in the contiguous United Statesand sixdough manufacturing and supply chain centers outside the contiguous United States. The foundation of our system-wide success andleadingmarket position is our strong relationships with our franchisees, comprised of over 2,000 owner-operators dedicated to the success of         the Domino’sPizza
®
 brand.Overour48-yearhistory,wehavedevelopedasimple business modelfocusedonourcorestrengthofdeliveringqualitypizzainatimelymanner. This business modelincludesadelivery-orientedstoredesignwithlowcapitalrequirements, a focused menuofpizzaandcomplementary side items, committed owner-operator franchisees and a vertically-integrated supply chain system.Ourearningsaredrivenlargelyfromretail salesat ourfranchise stores,whichgenerate royaltypayments and supply chain revenues to us. We also generate earningsthroughretailsalesatourCompany-owned stores.We operate our business in three segments: domestic stores, domestic supply chain and international.
Domesticstores.
The domestic stores segment,whichiscomprisedof4,558franchisestoresand489Company-owned stores, generatedrevenuesof$511.6millionandincomefromoperationsof$126.9millionduring2008.
• Domestic supply chain.
Ourdomestic supply chain segment,whichmanufactures dough, processes vegetables and distributes food,equipmentandsuppliestoallofourCompany-owned stores and over 99% of our domesticfranchisestores,generatedrevenuesof$771.1millionandincomefromoperationsof$47.1millionduring2008.
   International.
 Ourinternationalsegment oversees 3,726 franchise stores outside the contiguous United States. It also manufactures doughand distributes food and supplies in a limited number of these markets.During2008,ourinternationalsegmentgeneratedrevenuesof$142.4million,ofwhichapproximately51%resultedfromthecollectionoffranchiseroyaltiesandfees,andgeneratedincomefromoperationsof$63.9million,ofwhichapproximately93%resultedfromthecollectionoffranchiseroyaltiesandfees.On a consolidated basis, we generated revenues of morethan$1.4billionandincomefromoperations(afterdeducting$42.9millionof         unallocated corporate and other expenses)of$195.0millionin2008.Netincomewas$54.0millionin2008.Wehavebeenabletoincreaseouincomefromoperationsoverthepastfiveyearsthroughglobalretailsalesgrowthandthenetadditionofover1,300storesworldwide.Thisgrowthwasachievedwithcapitalexpendituresbyusthatgenerallyrangebetweenonly$20.0millionto$30.0milliononanannualizedbasis,sinceasignificantportionofourearningsarederivedfromretailsalesbyourfranchisees.During2007,theCompany completedarecapitalizationtransaction(the“2007Recapitalization”),consistingof(i)$1.7billionofborrowingsof         fixedratenotes,(ii)astocktenderofferresultinginthepurchaseof2,242sharesoftheCompany’s commonstockatapurchasepriceof$30.00 pershare,(iii)thepurchaseandretirement at a premiumof all the outstanding Domino’s,Inc.8
 1
/
4
% senior subordinated notes due 2011,(iv)therepaymentofalloutstandingborrowingsunderitsseniorcreditfacility,and(v)a$13.50persharespecialcashdividendtoshareholders and related anti-dilution payments and adjustments to certain option holders.Additionally,in2007theBoardofDirectorsapprovedanopenmarket share repurchase programforupto$200.0millionoftheCompany’scommonstock,tobefundedbyfuturefreecashflowandborrowingsavailableunderourvariablefundingnotes.During2007and2008,theCompanyrepurchased3,614,310and3,369,522sharesofcommon stock for approximately$54.4millionand$42.9million,respectively.TheCompany has approximately$102.7millionremaining under the open market share repurchase program.
 
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