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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 27, 2025
Dec. 28, 2024
Dec. 30, 2023
Cash flows from operating activities:      
Net income $ 1,096,087 $ 1,101,240 $ 1,107,226
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 494,011 447,162 393,049
Gain on disposition of property and equipment (93,058) (62,500) (48,013)
Share-based compensation expense 57,063 48,367 57,015
Deferred income taxes 61,267 (22,602) 6,172
Change in assets and liabilities:      
Inventories (225,687) (194,323) 40,872
Prepaid expenses and other current assets (1,262) 11,484 22,380
Accounts payable 143,429 56,374 (218,829)
Accrued employee compensation 13,688 9,375 (31,498)
Other accrued expenses 25,096 20,917 (13,082)
Income taxes (5,940) (19,174) (11,931)
Other 70,565 24,515 30,672
Net cash provided by operating activities 1,635,259 1,420,835 1,334,033
Cash flows from investing activities:      
Capital expenditures (894,770) (784,047) (753,883)
Proceeds from sale of property and equipment 256,087 140,129 86,504
Acquisition of Allivet, net of cash acquired (139,895) 0 0
Proceeds from sale of business assets 0 0 14,310
Net cash used in investing activities (778,578) (643,918) (653,069)
Cash flows from financing activities:      
Borrowings under debt facilities 3,125,000 785,000 1,767,000
Repayments under debt facilities (3,195,000) (685,000) (1,195,000)
Debt discounts and issuance costs 0 0 (9,729)
Principal payments under finance lease liabilities (2,819) (4,787) (4,808)
Repurchase of shares to satisfy tax obligations (15,877) (23,941) (24,245)
Repurchase of common stock (361,261) (560,634) (594,390)
Net proceeds from issuance of common stock 23,563 39,357 24,397
Cash dividends paid to stockholders (487,669) (472,492) (449,620)
Net cash used in financing activities (914,063) (922,497) (486,395)
Net (decrease) increase in cash and cash equivalents (57,382) (145,580) 194,569
Cash and cash equivalents at beginning of period 251,491 397,071 202,502
Cash and cash equivalents at end of period 194,109 251,491 397,071
Supplemental disclosures of cash flow information:      
Cash paid for interest, net of amounts capitalized 69,757 65,865 56,315
Cash paid for federal income taxes (a) [1] 198,908 309,619 279,200
Cash paid for state income taxes 36,011 41,845 46,022
Supplemental disclosures of non-cash activities:      
Non-cash accruals for property and equipment 122,692 82,324 60,055
Increase in operating lease liabilities resulting from new or modified right-of-use assets 928,057 659,008 628,991
Increase in finance lease liabilities resulting from new or modified right-of-use assets $ 7,679 $ 0 $ 450
[1] Cash paid for federal income taxes for the fiscal year ended December 27, 2025 included $168.9 million of cash paid for the purchase of transferable federal tax credits.