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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 25, 2022
Dec. 26, 2021
Cash flows provided by operating activities:      
Net income $ 254,414 $ 109,203 $ 222,913
Adjustments to reconcile Net income to cash provided by operating activities:      
Depreciation and amortization 191,171 169,617 163,391
Amortization of debt discounts and issuance costs 3,115 3,538 4,494
Amortization of deferred gift card sales commissions 23,695 24,091 26,012
Provision for impaired assets and restaurant closings 33,574 5,964 13,737
Non-cash interest expense from terminated interest rate swaps 0 12,215 6,160
Non-cash operating lease costs 84,104 83,254 78,272
(Benefit) provision for expected credit losses and contingent lease liabilities (864) (1,117) 946
Stock-based compensation expense 11,911 16,514 24,405
Deferred income tax (benefit) expense (7,823) 13,748 (3,346)
Loss on extinguishment and modification of debt 0 107,630 2,073
Loss on fair value adjustment of derivatives, net 0 17,685 0
Other, net (2,933) 3,186 (1,879)
Change in assets and liabilities:      
Decrease (increase) in inventories 2,361 1,036 (18,210)
Decrease (increase) in other current assets 9,572 (40,370) (58,397)
Increase in other assets (1,177) (6,670) (2,073)
Decrease in operating right-of-use assets, net 0 277 160
Increase (decrease) in accounts payable and accrued and other current liabilities 26,688 (40,679) 25,619
(Decrease) increase in unearned revenue (12,401) (4,638) 17,225
Decrease in operating lease liabilities (93,576) (82,540) (90,387)
Increase (decrease) in other long-term liabilities 10,590 (1,022) (8,660)
Net cash provided by operating activities 532,421 390,922 402,455
Cash flows used in investing activities:      
Proceeds from disposal of property, fixtures and equipment 2,515 1,634 9,322
Proceeds received from company-owned life insurance 3,460 16,092 9,270
Capital expenditures (324,255) (219,691) (122,830)
Other investments, net 1,174 827 (507)
Net cash used in investing activities (317,106) (201,138) (104,745)
Cash flows used in financing activities:      
Proceeds from issuance of long-term debt 0 0 200,000
Repayments of long-term debt and finance lease obligations (1,862) (196,447) (431,166)
Proceeds from borrowings on revolving credit facilities 1,079,000 1,239,500 470,000
Repayments of borrowings on revolving credit facilities (1,128,000) (889,500) (837,000)
Financing fees 0 (1,205) (5,868)
Proceeds from issuance of senior notes 0 0 300,000
Issuance costs related to senior notes 0 0 (5,546)
Principal settlements and repurchase of convertible senior notes (214) (196,919) 0
Proceeds from retirement of convertible senior note hedges 0 131,869 0
Payments for retirement of warrants 0 (114,825) 0
Proceeds from share-based compensation, net 25,327 12,955 9,850
Distributions to noncontrolling interests (8,684) (9,127) (9,123)
Contributions from noncontrolling interests 1,997 1,382 1,347
Purchase of noncontrolling interests (100) (5,004) (3)
Payments for partner equity plan 0 (9,292) (9,910)
Repurchase of common stock (70,847) (109,152) 0
Cash dividends paid on common stock (83,742) (49,736) 0
Net cash used in financing activities (187,125) (195,501) (317,419)
Effect of exchange rate changes on cash and cash equivalents 1,448 1,395 (1,642)
Net increase (decrease) in cash, cash equivalents and restricted cash 29,638 (4,322) (21,351)
Cash, cash equivalents and restricted cash as of the beginning of the period 84,735 89,057 110,408
Cash, cash equivalents and restricted cash as of the end of the period 114,373 84,735 89,057
Supplemental disclosures of cash flow information:      
Cash paid for interest 50,931 39,126 47,036
Cash paid for income taxes, net of refunds 27,750 35,450 36,336
Supplemental disclosures of non-cash investing and financing activities:      
Leased assets obtained in exchange for new operating lease liabilities 74,539 54,271 43,363
Leased assets obtained in exchange for new finance lease liabilities 6,480 4,066 1,238
Increase in liabilities from the acquisition of property, fixtures and equipment $ 3,428 $ 12,762 $ 2,344