XML 17 R7.htm IDEA: XBRL DOCUMENT v3.25.3
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2025
Sep. 24, 2024
Cash flows from operating activities:    
Net income including noncontrolling interests $ 327,652 $ 325,839
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 152,172 128,918
Deferred income taxes 2,011 (9,592)
Loss on disposition of assets 4,078 2,842
Impairment and closure costs 83 826
Equity income from investments in unconsolidated affiliates (1,771) (778)
Distributions of income received from investments in unconsolidated affiliates 761 799
Provision for doubtful accounts 7 (22)
Share-based compensation expense 35,829 33,154
Changes in operating working capital, net of acquisitions:    
Receivables 132,064 123,155
Inventories (3,775) (1,522)
Prepaid expenses and other current assets 8,798 10,394
Other assets (26,202) (15,566)
Accounts payable (162) 3,166
Deferred revenue-gift cards (154,539) (147,287)
Accrued wages (8,155) 20,636
Prepaid income taxes and income taxes payable (8,667) 5,923
Accrued taxes and licenses (1,463) 6,849
Other accrued liabilities 9,680 (98)
Operating lease right-of-use assets and lease liabilities 7,114 4,845
Other liabilities 34,087 23,608
Net cash provided by operating activities 509,602 516,089
Cash flows from investing activities:    
Capital expenditures-property and equipment (298,808) (246,539)
Acquisitions of franchise restaurants, net of cash acquired (94,230) 0
Proceeds from sale of investments in unconsolidated affiliates 1,329 0
Proceeds from sale of property and equipment 1,200 197
Proceeds from sale leaseback transactions 6,307 9,126
Net cash used in investing activities (384,202) (237,216)
Cash flows from financing activities:    
Debt issuance costs (1,525) 0
Distributions to noncontrolling interest holders (6,967) (8,110)
Acquisitions of noncontrolling interests 0 (5,279)
Proceeds from restricted stock and other deposits, net 506 396
Indirect repurchase of shares for minimum tax withholdings (18,686) (14,027)
Repurchase of shares of common stock, including excise taxes as applicable (100,414) (44,689)
Dividends paid to shareholders (135,367) (122,205)
Net cash used in financing activities (262,453) (193,914)
Net (decrease) increase in cash and cash equivalents (137,053) 84,959
Cash and cash equivalents-beginning of period 245,225 104,246
Cash and cash equivalents-end of period 108,172 189,205
Supplemental disclosures of cash flow information:    
Interest paid 690 669
Income taxes paid 61,786 61,804
Capital expenditures included in current liabilities $ 46,963 $ 42,641