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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 27, 2020
Sep. 29, 2019
Cash flows from operating activities:    
Net income $ 79,098 $ 110,407
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 98,726 97,975
Share-based compensation 15,112 13,989
Impairment of long-lived assets 4,727 1,684
Deferred income tax 5,878 5,524
Non-cash rental expense, net 19,967 18,722
Change in operating lease liabilities (29,539) (31,481)
Net receipt of deferred vendor incentives 5,061 2,269
System optimization gains, net (2,333) (1,162)
Distributions received from joint ventures, net of equity in earnings 1,187 2,926
Long-term debt-related activities, net 4,866 12,386
Changes in operating assets and liabilities and other, net 3,009 4,261
Net cash provided by operating activities 205,759 237,500
Cash flows from investing activities:    
Capital expenditures (44,876) (40,984)
Acquisitions 0 (5,052)
Dispositions 3,570 2,038
Proceeds from sale of investments 169 130
Notes receivable, net 138 (1,834)
Net cash used in investing activities (40,999) (45,702)
Cash flows from financing activities:    
Proceeds from long-term debt 153,315 850,000
Repayments of long-term debt (174,959) (883,564)
Repayments of finance lease liabilities (5,850) (5,178)
Deferred financing costs (2,122) (14,008)
Repurchases of common stock (46,667) (76,948)
Dividends (49,176) (69,280)
Proceeds from stock option exercises 15,540 24,069
Payments related to tax withholding for share-based compensation (5,409) (8,447)
Net cash used in financing activities (115,328) (183,356)
Net cash provided by operations before effect of exchange rate changes on cash 49,432 8,442
Effect of exchange rate changes on cash (1,715) 2,755
Net increase in cash, cash equivalents and restricted cash 47,717 11,197
Cash, cash equivalents and restricted cash at beginning of period 358,707 486,512
Cash, cash equivalents and restricted cash at end of period 406,424 497,709
Supplemental non-cash investing and financing activities:    
Capital expenditures included in accounts payable 4,789 7,582
Finance leases 24,617 34,084
Reconciliation of cash, cash equivalents and restricted cash at end of period:    
Total cash, cash equivalents and restricted cash $ 406,424 $ 497,709