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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Jan. 01, 2023
Jan. 02, 2022
Jan. 03, 2021
Cash flows from operating activities:      
Net income $ 177,370 $ 200,392 $ 117,832
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization (exclusive of amortization of cloud computing arrangements shown separately below) 133,414 125,540 132,775
Amortization of cloud computing arrangements 2,394 0 0
Share-based compensation 24,538 22,019 18,930
Impairment of long-lived assets 6,420 2,251 8,037
Deferred income tax 4,305 (13,781) 10,266
Non-cash rental expense, net 33,915 40,596 28,937
Change in operating lease liabilities (45,682) (45,606) (40,905)
Net (recognition) receipt of deferred vendor incentives (1,060) 715 2,495
System optimization gains, net (6,779) (33,545) (3,148)
Gain on sale of investments, net 0 (63) 0
Distributions received from TimWen joint venture 12,612 16,337 8,376
Equity in earnings in joint ventures, net (9,422) (11,203) (6,096)
Long-term debt related activities, net (see Note 21) 7,762 24,758 6,723
Cloud computing arrangements expenditures (30,220) (14,086) 0
Other, net (4,554) 844 (6,438)
Changes in operating assets and liabilities:      
Accounts and notes receivable, net (5,857) (5,613) (16,243)
Inventories (1,203) (872) (841)
Prepaid expenses and other current assets 6,769 (3,396) (8,780)
Advertising funds restricted assets and liabilities (30,503) 11,519 49,052
Accounts payable (1,533) 7,586 1,620
Accrued expenses and other current liabilities (12,782) 21,380 (18,231)
Net cash provided by operating activities 259,904 345,772 284,361
Cash flows from investing activities:      
Capital expenditures (85,544) (77,984) (68,969)
Franchise development fund (3,605) 0 0
Acquisitions 0 (123,069) (4,879)
Dispositions 8,237 55,118 6,091
Proceeds from sale of investments 0 63 169
Notes receivable, net 3,136 1,203 (662)
Payments for investments 0 (10,000) 0
Net cash used in investing activities (77,776) (154,669) (68,250)
Cash flows from financing activities:      
Proceeds from long-term debt 500,000 1,100,000 153,315
Repayments of long-term debt (26,750) (970,344) (191,462)
Repayments of finance lease liabilities (17,312) (13,640) (8,383)
Deferred financing costs (10,232) (20,873) (2,122)
Repurchases of common stock, including accelerated share repurchase (51,950) (268,531) (62,173)
Dividends (106,779) (94,846) (64,866)
Proceeds from stock option exercises 4,865 30,003 23,361
Payments related to tax withholding for share-based compensation (3,168) (4,511) (5,577)
Net cash provided by (used in) financing activities 288,674 (242,742) (157,907)
Net cash provided by (used in) operations before effect of exchange rate changes on cash 470,802 (51,639) 58,204
Effect of exchange rate changes on cash (5,967) 364 1,330
Net increase (decrease) in cash, cash equivalents and restricted cash 464,835 (51,275) 59,534
Cash, cash equivalents and restricted cash at beginning of period 366,966 418,241 358,707
Cash, cash equivalents and restricted cash at end of period $ 831,801 $ 366,966 $ 418,241