XML 15 R6.htm IDEA: XBRL DOCUMENT v3.22.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jul. 03, 2022
Jul. 04, 2021
Cash flows from operating activities:    
Net income $ 85,553 $ 107,090
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 66,659 62,303
Share-based compensation 12,470 11,033
Impairment of long-lived assets 2,476 1,265
Deferred income tax 7,306 (2,137)
Non-cash rental expense, net 16,684 20,075
Change in operating lease liabilities (22,913) (23,074)
Net receipt of deferred vendor incentives 5,039 3,332
System optimization gains, net (3,686) (31,282)
Distributions received from joint ventures, net of equity in earnings 1,108 2,354
Long-term debt-related activities, net 3,731 21,328
Cloud computing arrangements expenditures (13,213) (2,412)
Changes in operating assets and liabilities and other, net (63,019) (11,124)
Net cash provided by operating activities 98,195 158,751
Cash flows from investing activities:    
Capital expenditures (30,941) (24,069)
Franchise development fund (1,312) 0
Acquisitions 0 4,879
Dispositions 1,016 50,531
Notes receivable, net 2,445 611
Net cash (used in) provided by investing activities (28,792) 31,952
Cash flows from financing activities:    
Proceeds from long-term debt 500,000 1,100,000
Repayments of long-term debt (12,125) (941,220)
Repayments of finance lease liabilities (9,495) (5,777)
Deferred financing costs (10,232) (20,873)
Repurchases of common stock (51,950) (83,658)
Dividends (53,546) (42,279)
Proceeds from stock option exercises 1,959 25,933
Payments related to tax withholding for share-based compensation (1,904) (3,197)
Net cash provided by financing activities 362,707 28,929
Net cash provided by operations before effect of exchange rate changes on cash 432,110 219,632
Effect of exchange rate changes on cash (2,428) 2,283
Net increase in cash, cash equivalents and restricted cash 429,682 221,915
Cash, cash equivalents and restricted cash at beginning of period 366,966 418,241
Cash, cash equivalents and restricted cash at end of period $ 796,648 $ 640,156