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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended 12 Months Ended
Dec. 23, 2023
Dec. 24, 2022
Dec. 23, 2023
Dec. 24, 2022
Mar. 25, 2023
Operating activities          
Net income $ 12,170 $ 13,034 $ 33,871 $ 38,639  
Adjustments to reconcile net income to cash provided by operating activities:          
Depreciation and amortization     54,437 58,201  
Share-based compensation expense     2,513 4,199  
Gain on disposal of assets     (1,579) (2,748)  
Gain on divestiture       (2,394)  
Deferred income tax expense     9,557 3,306  
Change in operating assets and liabilities (excluding acquisitions and divestitures)          
Accounts receivable     (1,140) (2,360)  
Inventories     (12,709) (12,319)  
Other current assets     6,388 (18,156)  
Other non-current assets     30,837 27,732  
Accounts payable     25,606 96,366  
Accrued expenses     12,984 5,323  
Federal and state income taxes payable     (1,349) 2,269  
Other long-term liabilities     (28,953) (26,979)  
Long-term income taxes payable       112  
Cash provided by operating activities     130,463 171,191  
Investing activities          
Capital expenditures     (18,892) (28,535)  
Acquisitions, net of cash acquired       (954)  
Proceeds from divestiture       56,586  
Deferred proceeds received from divestiture     15,839 4,294  
Proceeds from the disposal of assets     2,793 4,416  
Other     (25) (256)  
Cash (used for) provided by investing activities     (285) 35,551  
Financing activities          
Proceeds from borrowings     99,103 139,176  
Principal payments on long-term debt, finance leases and financing obligations     (139,496) (215,439)  
Repurchase of stock     (44,044) (96,919)  
Exercise of stock options     17    
Dividends paid     (26,796) (27,482)  
Deferred financing costs       (1,027)  
Cash used for financing activities     (111,216) (201,691)  
Increase in cash and equivalents     18,962 5,051  
Cash and equivalents at beginning of period     4,884 7,948 $ 7,948
Cash and equivalents at end of period $ 23,846 $ 12,999 23,846 12,999 $ 4,884
Supplemental information          
Leased assets reduced in exchange for reduced finance lease liabilities     (4,539) (10,436)  
Leased assets obtained in exchange for new operating lease liabilities     $ 21,577 $ 25,963