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Condensed Consolidated Statements of Cash Flows
$ in Thousands
3 Months Ended 9 Months Ended
Oct. 03, 2021
USD ($)
Oct. 03, 2021
USD ($)
Sep. 27, 2020
USD ($)
Cash flows from operating activities:      
Net income $ 41,171 $ 148,261 $ 79,098
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 30,940 93,243 98,726
Share-based compensation   16,735 15,112
Impairment of long-lived assets 566 1,831 4,727
Deferred income tax   (25) 5,878
Non-cash rental expense, net   28,421 19,967
Change in operating lease liabilities   (34,220) (29,539)
Net receipt of deferred vendor incentives   1,906 5,061
System optimization gains, net (1,437) (32,719) (2,333)
Distributions received from joint ventures, net of equity in earnings   3,561 1,187
Long-term debt-related activities, net   23,043 4,866
Changes in operating assets and liabilities and other, net   26,636 3,009
Net cash provided by operating activities   276,673 205,759
Cash flows from investing activities:      
Capital expenditures   (43,401) (44,876)
Acquisitions   4,879 0
Dispositions   52,657 3,570
Proceeds from sale of investments   0 (169)
Notes receivable, net   907 138
Net cash provided by (used in) investing activities   15,042 (40,999)
Cash flows from financing activities:      
Proceeds from long-term debt   1,100,000 153,315
Repayments of long-term debt   (955,782) (174,959)
Repayments of finance lease liabilities   (9,021) (5,850)
Deferred financing costs   (20,873) (2,122)
Repurchases of common stock   (125,656) (46,667)
Dividends   (68,963) (49,176)
Proceeds from stock option exercises   27,204 15,540
Payments related to tax withholding for share-based compensation   (4,390) (5,409)
Net cash used in financing activities   (57,481) (115,328)
Net cash provided by operations before effect of exchange rate changes on cash   234,234 49,432
Effect of exchange rate changes on cash   177 (1,715)
Net increase in cash, cash equivalents and restricted cash   234,411 47,717
Cash, cash equivalents and restricted cash at beginning of period   418,241 358,707
Cash, cash equivalents and restricted cash at end of period 652,652 652,652 406,424
Supplemental non-cash investing and financing activities:      
Capital expenditures included in accounts payable   4,363 4,789
Finance leases   43,277 24,617
Reconciliation of cash, cash equivalents and restricted cash at end of period:      
Cash and cash equivalents 571,502 571,502  
Restricted cash 36,321 36,321  
Restricted cash, included in Advertising funds restricted assets 44,829 44,829  
Total cash, cash equivalents and restricted cash $ 652,652 $ 652,652 $ 406,424