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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Jun. 28, 2017
Jun. 29, 2016
Jun. 24, 2015
Cash Flows from Operating Activities:      
Net income $ 150,823 $ 200,620 [1] $ 194,659 [1]
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 156,409 156,368 145,242
Stock-based compensation 14,568 15,159 14,802
Deferred income taxes, net (22,704) 23,902 14,199
Restructure charges and other impairments 14,412 17,445 5,636
Net (gain) loss on disposal of assets (377) 87 4,523
Undistributed loss (earnings) on equity investments 1 (571) (368)
Other 3,009 1,918 250
Changes in assets and liabilities:      
Accounts receivable, net 3,487 (3,682) 1,932
Inventories (62) 11 475
Restaurant supplies (1,496) (1,651) 518
Prepaid expenses (1,694) (11,479) 3,850
Other assets 308 72 (2,140)
Current income taxes (9,915) 9,415 7,260
Accounts payable 2,984 (5,783) 1,117
Gift card liability 4,153 6,190 10,348
Accrued payroll (714) (17,229) 5,330
Other accrued liabilities (4,805) 1,026 (38,273)
Other liabilities 4,499 2,882 (749)
Net cash provided by operating activities 312,886 394,700 368,611
Cash Flows from Investing Activities:      
Payments for property and equipment (102,573) (112,788) (140,262)
Proceeds from sale of assets 3,157 4,256 1,950
Payment for business acquisition, net of cash acquired 0 (105,577) 0
Net cash used in investing activities (99,416) (214,109) (138,312)
Cash Flows from Financing Activities:      
Proceeds from issuance of long-term debt 350,000 0 0
Purchases of treasury stock (370,877) (284,905) (306,255)
Payments on revolving credit facility (388,000) (110,000) (177,000)
Borrowings on revolving credit facility 250,000 256,500 480,750
Payments of dividends (70,771) (74,066) (70,832)
Payments for debt issuance costs (10,216) 0 (2,501)
Proceeds from issuances of treasury stock 5,621 6,147 16,259
Payments on long-term debt (3,832) (3,402) (189,177)
Excess tax benefits from stock-based compensation 2,223 5,460 15,893
Net cash used in financing activities (235,852) (204,266) (232,863)
Net change in cash and cash equivalents (22,382) (23,675) (2,564)
Cash and cash equivalents at beginning of year 31,446 55,121 57,685
Cash and cash equivalents at end of year $ 9,064 $ 31,446 $ 55,121
[1] We discovered immaterial errors in prior years relating to the accuracy of certain tax accounts. While we concluded that the impact of these errors on our previously-issued consolidated financial statements was not material, we revised our previously-reported consolidated financial statements for the fiscal years ended June 29, 2016 and June 24, 2015. The revisions to the consolidated statements of shareholder's (deficit) equity include a $10.3 million decrease to retained earnings at the beginning of fiscal 2015 and decreases to net income of $2.1 million and $0.1 million for fiscal 2015 and fiscal 2016, respectively, for a total reduction of $12.5 million. For additional information, see Note 16—Immaterial Correction of Prior Period Financial Statements.