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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
6 Months Ended
Jun. 29, 2025
Jun. 30, 2024
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 14,033 $ 13,874
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 14,177 14,050
Amortization of debt issuance costs and discount 349 380
Loss on sales of assets 142 66
Equity-based compensation 4,608 5,717
Deferred income tax expense 5,039 2,359
Tax Receivable Agreement liability adjustment (2,485) (1,000)
Gift card breakage (502) (502)
Changes in operating assets and liabilities:    
Accounts receivable 180 (681)
Receivables from related parties (16) (158)
Inventories (2,183) (22)
Other current assets 1,161 1,916
Operating lease assets 4,557 4,461
Accounts payable (7,439) 6,833
Accrued expenses and other liabilities (3,984) (6,365)
Operating lease liabilities (1,607) (1,908)
Deferred lease incentives 1,586 2,101
Other assets and liabilities 1,077 507
NET CASH PROVIDED BY OPERATING ACTIVITIES 28,693 41,628
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property and equipment (33,081) (33,905)
Proceeds from the sale of property and equipment 5 77
NET CASH USED IN INVESTING ACTIVITIES (33,076) (33,828)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from short-term debt, net 45,000 2,000
Payments of long-term debt (38,750) (3,750)
Proceeds from equity offering, net of underwriting discounts 0 114,960
Repurchase of outstanding equity / Portillo's OpCo units 0 (114,960)
Distributions paid to non-controlling interest holders (1,291) (838)
Proceeds from stock option exercises 2,727 1,109
Employee withholding taxes related to net settled equity awards (887) (279)
Proceeds from Employee Stock Purchase Plan purchases 278 306
Payments of Tax Receivable Agreement liability (7,686) (4,429)
Payment of deferred financing costs (1,263) 0
NET CASH USED IN FINANCING ACTIVITIES (1,872) (5,881)
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH (6,255) 1,919
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF THE PERIOD 22,876 10,438
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT END OF THE PERIOD 16,621 12,357
SUPPLEMENTAL CASH FLOW INFORMATION    
Interest paid 11,800 12,792
Income tax paid 0 0
NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Accrued capital expenditures 19,264 10,397
Establishment of liabilities under Tax Receivable Agreement $ 38,485 $ 33,690