XML 29 R8.htm IDEA: XBRL DOCUMENT v3.8.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 26, 2017
Dec. 27, 2016
Dec. 29, 2015
Cash flows from operating activities:      
Net income including noncontrolling interests $ 137,536 $ 120,573 $ 101,261
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 93,499 82,964 69,694
Deferred income taxes (5,069) 5,994 411
Loss on disposition of assets 4,961 5,125 5,455
Impairment and closure costs 600 139 974
Equity income from investments in unconsolidated affiliates (1,488) (1,111) (1,641)
Distributions of income received from investments in unconsolidated affiliates 1,424 1,901 502
Provision for doubtful accounts 10 27 (4)
Share-based compensation expense 26,934 26,067 22,825
Changes in operating working capital:      
Receivables (20,379) (10,733) (11,395)
Inventories (48) (455) (1,377)
Prepaid expenses (1,211) (855) (743)
Other assets (7,401) (4,229) (2,276)
Accounts payable 1,601 138 7,611
Deferred revenue-gift cards 26,678 28,284 21,812
Accrued wages 3,639 (10,194) 5,858
Excess tax benefits from share-based compensation   (3,291) (4,540)
Prepaid income taxes and income taxes payable 3,448 2,300 2,994
Accrued taxes and licenses 2,299 919 1,187
Other accrued liabilities 5,148 3,326 1,991
Deferred rent 6,038 4,610 4,529
Other liabilities 8,154 5,566 2,813
Net cash provided by operating activities 286,373 257,065 227,941
Cash flows from investing activities:      
Capital expenditures-property and equipment (161,628) (164,738) (173,475)
Acquisition of franchise restaurants, net of cash acquired (16,528)    
Proceeds from sale of property and equipment, including insurance proceeds     272
Net cash used in investing activities (178,156) (164,738) (173,203)
Cash flows from financing activities:      
Proceeds from revolving credit facility, net   25,000 (25,000)
Debt issuance costs (476)    
Proceeds from noncontrolling interest contribution 3,457    
Proceeds from financing lease obligation     3,000
Repurchase of shares of common stock   (4,110) (11,397)
Distributions to noncontrolling interest holders (5,171) (4,479) (3,911)
Excess tax benefits from share-based compensation   3,291 4,540
Proceeds from stock option and other deposits, net 740 419 1,422
Indirect repurchase of shares for minimum tax withholdings (11,639) (9,312) (8,572)
Principal payments on long-term debt and capital lease obligation (558) (145) (128)
Proceeds from exercise of stock options 1,558 2,673 4,696
Dividends paid to shareholders (58,154) (52,054) (46,176)
Net cash used in financing activities (70,243) (38,717) (81,526)
Net increase in cash and cash equivalents 37,974 53,610 (26,788)
Cash and cash equivalents—beginning of period 112,944 59,334 86,122
Cash and cash equivalents—end of period 150,918 112,944 59,334
Supplemental disclosures of cash flow information:      
Interest paid, net of amounts capitalized 1,216 1,011 2,321
Income taxes paid 50,201 42,890 39,581
Capital expenditures included in current liabilities $ 12,156 2,781 $ 3,726
Obligation under capital lease   $ 2,000