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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Apr. 01, 2023
Mar. 26, 2022
Operating activities    
Net income $ 15,669 $ 8,676
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 2,989 2,227
Deferred income taxes (800) (490)
Stock-based compensation expense 3,345 2,191
Loss on disposal of assets 77 444
Amortization of debt issuance costs 515 373
Loss on debt extinguishment 0 814
Changes in operating assets and liabilities:    
Accounts receivable (676) 608
Prepaid expenses and other assets 1,647 263
Advertising fund assets and liabilities, net 9,605 9,403
Accounts payable and other current liabilities 2,633 (2,931)
Deferred revenue 654 (1,125)
Other non-current liabilities 40 (87)
Cash provided by operating activities 35,698 20,366
Investing activities    
Purchases of property and equipment (4,319) (6,293)
Proceeds from sales of assets 0 1,479
Cash used in investing activities (4,319) (4,814)
Financing activities    
Proceeds from exercise of stock options 111 125
Borrowings of long-term debt 0 250,000
Repayments of long-term debt (1,825) 0
Payment of deferred financing costs and other debt-related costs 0 (5,442)
Tax payments for restricted stock upon vesting (2,292) (298)
Dividends paid (6,081) (5,294)
Cash provided by (used in) financing activities (10,087) 239,091
Net increase in cash, cash equivalents, and restricted cash 21,292 254,643
Cash, cash equivalents, and restricted cash at beginning of period 205,715 54,906
Cash, cash equivalents, and restricted cash at end of period 227,007 309,549
Supplemental information:    
Accrued capital expenditures $ 6,668 $ 5,189