XML 25 R8.htm IDEA: XBRL DOCUMENT v3.24.0.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 26, 2023
Dec. 27, 2022
Dec. 28, 2021
Cash flows from operating activities:      
Net income including noncontrolling interests $ 313,675 $ 277,597 $ 253,314
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 153,202 137,237 126,761
Deferred income taxes 3,115 9,456 8,896
Loss on disposition of assets 3,783 5,206 3,167
Impairment and closure costs 200 1,770 673
Equity (income) loss from investments in unconsolidated affiliates (1,351) (1,239) 637
Distributions of income received from investments in unconsolidated affiliates 689 1,022 1,071
Provision for doubtful accounts (14) 33 7
Share-based compensation expense 34,230 36,663 38,139
Changes in operating working capital, net of acquisitions:      
Receivables (24,420) 11,062 (62,399)
Inventories 105 (6,099) (9,231)
Prepaid expenses and other current assets (5,612) (6,540) (2,485)
Other assets (22,617) 5,775 (13,918)
Accounts payable 23,083 5,408 27,730
Deferred revenue-gift cards 37,347 33,799 67,845
Accrued wages 13,518 (10,172) 12,734
Prepaid income taxes and income taxes payable 1,514 5,953 (8,973)
Accrued taxes and licenses 6,581 1,889 8,624
Other accrued liabilities (3,460) 2,147 20,352
Operating lease right-of-use assets and lease liabilities 6,313 5,268 5,553
Other liabilities 25,103 (4,510) (9,671)
Net cash provided by operating activities 564,984 511,725 468,826
Cash flows from investing activities:      
Capital expenditures-property and equipment (347,034) (246,121) (200,692)
Acquisition of franchise restaurants, net of cash acquired (39,153) (33,069) 0
Proceeds from sale of investments in unconsolidated affiliates 627 316 0
Proceeds from the sale of property and equipment 2,110 2,269 0
Proceeds from sale leaseback transactions 16,283 12,871 5,588
Net cash used in investing activities (367,167) (263,734) (195,104)
Cash flows from financing activities:      
Payments on revolving credit facility (50,000) (50,000) (140,000)
Debt issuance costs 0 0 (708)
Distributions to noncontrolling interest holders (7,974) (7,775) (8,206)
Acquisition of noncontrolling interest 0 (1,735) 0
Proceeds from restricted stock and other deposits, net 405 307 602
Indirect repurchase of shares for minimum tax withholdings (12,688) (13,576) (17,628)
Repurchase of shares of common stock (49,993) (212,859) (51,634)
Dividends paid to shareholders (147,182) (124,137) (83,658)
Net cash used in financing activities (267,432) (409,775) (301,232)
Net decrease in cash and cash equivalents (69,615) (161,784) (27,510)
Cash and cash equivalents-beginning of period 173,861 335,645 363,155
Cash and cash equivalents-end of period 104,246 173,861 335,645
Supplemental disclosures of cash flow information:      
Interest paid, net of amounts capitalized 1,119 1,547 3,186
Income taxes paid 39,861 25,910 39,789
Capital expenditures included in current liabilities $ 47,550 $ 34,689 $ 23,087