XML 52 R5.htm IDEA: XBRL DOCUMENT v3.2.0.727
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Cash flows from operating activities:    
Net income $ 55,309 $ 39,991
Adjustments to reconcile net income to cash flows provided by operating activities:    
Depreciation and amortization 15,855 17,498
Non-cash interest expense 1,519 3,315
Deferred income taxes (16,768) (16,047)
Non-cash stock-based compensation expense 4,593 5,508
Tax benefit from stock-based compensation 4,688 3,578
Excess tax benefit from stock-based compensation (4,572) (4,455)
Closure and impairment charges 2,302 837
Loss on disposition of assets 57 797
Other (1,534) (1,704)
Changes in operating assets and liabilities:    
Accounts receivable, net (11,249) (4,949)
Current income tax receivables and payables 9,717 16,004
Gift card receivables and payables (3,256) (4,165)
Prepaid expenses and other current assets (2,299) (1,608)
Accounts payable 6,024 10,103
Accrued employee compensation and benefits (10,790) (10,552)
Other current liabilities (1,473) 1,841
Cash flows provided by operating activities 48,123 55,992
Cash flows from investing activities:    
Additions to property and equipment (4,612) (4,086)
Proceeds from sale of property and equipment 800 681
Principal receipts from notes, equipment contracts and other long-term receivables 9,517 6,066
Other (110) 75
Cash flows provided by investing activities 5,595 2,736
Cash flows from financing activities:    
Repayment of long-term debt 0 (2,400)
Principal payments on capital lease and financing obligations (5,975) (5,570)
Repurchase of DineEquity common stock (35,007) (30,006)
Dividends paid on common stock (33,271) (28,518)
Tax payments for restricted stock upon vesting (3,010) (1,944)
Proceeds from stock options exercised 8,374 6,658
Excess tax benefit from stock-based compensation 4,572 4,455
Change in restricted cash 11,007 (7,064)
Other (29) 0
Cash flows used in financing activities (53,339) (64,389)
Net change in cash and cash equivalents 379 (5,661)
Cash and cash equivalents at beginning of period 104,004 106,011
Cash and cash equivalents at end of period 104,383 100,350
Supplemental disclosures:    
Interest paid in cash 46,419 53,767
Income taxes paid in cash $ 36,968 $ 22,169