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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Jun. 24, 2020
Jun. 26, 2019
Jun. 27, 2018
Cash flows from operating activities      
Net income $ 24.4 $ 154.9 $ 125.9
Adjustments to reconcile Net income to Net cash provided by operating activities:      
Depreciation and amortization 162.3 147.6 151.4
Stock-based compensation 14.8 16.4 14.2
Restructure charges and other impairments 28.9 26.5 21.7
Net loss (gain) on disposal of assets 1.2 (33.1) 1.6
Undistributed loss on equity investments 0.0 0.0 0.3
Other 2.8 3.0 3.1
Changes in assets and liabilities:      
Accounts receivable, net 4.1 (3.0) (3.3)
Inventories (2.8) 1.0 0.0
Restaurant supplies (1.2) (0.6) (1.2)
Prepaid expenses 7.2 (3.0) (1.7)
Operating lease assets, net of liabilities 3.6 0.0 0.0
Deferred income taxes, net 8.6 (75.8) 3.4
Other assets 0.1 0.9 0.3
Accounts payable 9.8 (4.1) 1.6
Gift card liability 6.3 (10.1) (7.3)
Accrued payroll (17.8) 6.8 4.2
Other accrued liabilities 4.0 (7.7) (6.8)
Current income taxes (20.7) (12.7) (14.9)
Other liabilities 9.4 5.7 (8.0)
Net cash provided by operating activities 245.0 212.7 284.5
Cash flows from investing activities      
Payments for property and equipment (104.5) (167.6) (101.3)
Payments for franchise restaurant acquisitions (94.6) (3.1) 0.0
Proceeds from note receivable 2.8 2.8 1.9
Proceeds from sale of assets 1.2 1.6 19.9
Insurance recoveries 1.1 1.7 1.7
Proceeds from sale leaseback transactions, net of related expenses 0.0 485.9 0.0
Net cash (used in) provided by investing activities (194.0) 321.3 (77.8)
Cash flows from financing activities      
Payments on revolving credit facility (858.8) (1,150.0) (588.0)
Borrowings on revolving credit facility 808.4 853.0 1,016.0
Payments of dividends (57.4) (60.3) (70.0)
Purchases of treasury stock (32.4) (167.7) (303.2)
Payments on long-term debt 17.8 9.5 260.3
Payments for common stock issuance costs (7.8) 0.0 0.0
Payments for debt issuance costs (3.2) 0.0 (1.6)
Proceeds from issuance of common stock 146.9 0.0 0.0
Proceeds from issuance of treasury stock 1.6 3.0 2.3
Net cash used in financing activities (20.5) (531.5) (204.8)
Net change in cash and cash equivalents 30.5 2.5 1.9
Cash and cash equivalents at beginning of period 13.4 10.9 9.0
Cash and cash equivalents at end of period $ 43.9 $ 13.4 $ 10.9