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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 29, 2024
Dec. 31, 2023
Dec. 25, 2022
Cash flows provided by operating activities:      
Net (loss) income $ (122,655) $ 254,414 $ 109,203
Net (loss) income from discontinued operations, net of tax (75,982) 41,629 16,053
Net (loss) income from continuing operations (46,673) 212,785 93,150
Adjustments to reconcile Net (loss) income from continuing operations to cash provided by operating activities of continuing operations:      
Depreciation and amortization 175,580 169,266 149,900
Amortization of debt discounts and issuance costs 2,769 3,115 3,538
Amortization of deferred gift card sales commissions 22,559 23,695 24,091
Provision for impaired assets and restaurant closings 64,291 33,574 5,964
Non-cash interest expense from terminated interest rate swaps 0 0 12,215
Benefit for expected credit losses and contingent lease liabilities (549) (864) (1,054)
Stock-based compensation expense 7,484 11,690 16,282
Deferred income tax (benefit) expense (30,337) (8,411) 11,457
Loss on extinguishment of debt 136,022 0 107,630
Loss on fair value adjustment of derivatives, net 0 0 17,685
Gain on foreign currency forward contracts (15,728) 0 0
Other, net (2,943) (3,115) 3,209
Change in assets and liabilities:      
(Increase) decrease in inventories (7,484) 2,797 1,823
(Increase) decrease in other current assets (43,170) 10,511 (44,460)
(Increase) decrease in other assets (3,954) 3,523 (2,300)
(Decrease) increase in accounts payable and accrued and other current liabilities (30,930) 13,738 (42,277)
Decrease in unearned revenue (6,059) (13,009) (5,025)
(Decrease) increase in operating lease liabilities (11,096) (9,525) 782
Increase (decrease) in other long-term liabilities 6,218 4,396 (4,278)
Net cash provided by operating activities of continuing operations 216,000 454,166 348,332
Net cash provided by operating activities of discontinued operations 12,132 78,255 42,590
Net cash provided by operating activities 228,132 532,421 390,922
Cash flows used in investing activities:      
Proceeds from disposal of property, fixtures and equipment 5,735 2,515 1,607
Proceeds received from company-owned life insurance 0 3,460 16,092
Capital expenditures (220,737) (282,229) (192,791)
Proceeds from foreign currency forward contracts 15,070 0 0
Other investments, net 650 1,174 827
Net cash used in investing activities of continuing operations (199,282) (275,080) (174,265)
Net cash used in investing activities of discontinued operations (39,744) (42,026) (26,873)
Net cash used in investing activities (239,026) (317,106) (201,138)
Cash flows used in financing activities:      
Proceeds from borrowings on revolving credit facilities 2,265,000 1,079,000 1,239,500
Repayments of borrowings on revolving credit facilities (1,936,000) (1,128,000) (889,500)
Financing fees (8,985) 0 (1,205)
Repayments of long-term debt and finance lease obligations (1,777) (1,593) (196,296)
Principal settlements and repurchase of convertible senior notes (2,335) (214) (196,919)
Proceeds from retirement of convertible senior note hedges 118,197 0 131,869
Payments for retirement of warrants (102,213) 0 (114,825)
(Payment of taxes) proceeds from share-based compensation, net (1,728) 25,327 12,955
Distributions to noncontrolling interests (7,113) (8,684) (9,127)
Contributions from noncontrolling interests 2,805 1,997 1,382
Purchase of noncontrolling interests (100) (100) (5,004)
Payments for partner equity plan 0 0 (9,292)
Repurchase of common stock (265,695) (70,847) (109,152)
Cash dividends paid on common stock (82,574) (83,742) (49,736)
Net cash used in financing activities of continuing operations (22,518) (186,856) (195,350)
Net cash used in financing activities of discontinued operations (990) (269) (151)
Net cash used in financing activities (23,508) (187,125) (195,501)
Effect of exchange rate changes on cash and cash equivalents (9,915) 1,448 1,395
Net (decrease) increase in cash, cash equivalents and restricted cash (44,317) 29,638 (4,322)
Cash, cash equivalents and restricted cash as of the beginning of the period 114,373 84,735 89,057
Cash, cash equivalents and restricted cash as of the end of the period 70,056 114,373 84,735
Supplemental disclosures of cash flow information:      
Cash paid for interest 59,989 50,931 39,126
Cash paid for income taxes, net of refunds 21,084 27,750 35,450
Supplemental disclosures of non-cash investing and financing activities:      
Leased assets obtained in exchange for new operating lease liabilities 91,305 74,539 54,271
Leased assets obtained in exchange for new finance lease liabilities 4,038 6,480 4,066
(Decrease) increase in liabilities from the acquisition of property, fixtures and equipment (8,367) 3,428 12,762
Shares issued on settlement of convertible senior notes 216,152 0 0
Shares received and retired on exercise of call option under bond hedge upon settlement of convertible senior notes $ (8,346) $ 0 $ 0