XML 19 R6.htm IDEA: XBRL DOCUMENT v3.23.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Jul. 09, 2023
Jul. 10, 2022
Cash flows from operating activities:    
Net earnings $ 108,929 $ 69,923
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Depreciation and amortization 48,460 40,754
Amortization of franchise tenant improvement allowances and incentives 3,295 3,046
Deferred finance cost amortization 3,915 4,280
Loss on extinguishment of debt 0 7,700
Tax deficiency from share-based compensation arrangements 71 123
Deferred income taxes 1,648 8,058
Share-based compensation expense 7,991 5,541
Pension and post-retirement expense 5,359 233
(Gains) losses on cash surrender value of company-owned life insurance (8,331) 9,024
Gains on the sale of company-operated restaurants (10,323) (1,660)
Gains on the disposition of property and equipment, net [1] (9,155) (1,746)
Impairment charges and other 6,232 3,863
Changes in assets and liabilities, excluding acquisitions:    
Accounts and other receivables 12,902 571
Inventories 658 (137)
Prepaid expenses and other current assets 5,714 (3,261)
Operating lease right-of-use assets and lease liabilities 5,357 6,074
Accounts payable (28,068) 2,627
Accrued liabilities 32,525 (42,701)
Pension and post-retirement contributions (4,674) (5,109)
Franchise tenant improvement allowance and incentive disbursements (2,745) (2,206)
Other 2,311 (1,185)
Cash flows provided by operating activities 182,071 103,812
Cash flows from investing activities:    
Purchases of property and equipment (56,669) (34,349)
Acquisition of Del Taco, net of cash acquired 0 (580,792)
Proceeds from the sale of property and equipment 25,174 4,691
Proceeds from the sale and leaseback of assets 3,673 5,968
Proceeds from the sale of company-operated restaurants 51,845 1,402
Other 1,465 (1,315)
Cash flows provided by (used in) investing activities 25,488 (604,395)
Cash flows from financing activities:    
Borrowings on revolving credit facilities 0 68,000
Repayments of borrowings on revolving credit facilities (50,000) (18,000)
Proceeds from the issuance of debt 0 1,100,000
Principal repayments on debt (22,620) (580,518)
Payment of debt issuance and extinguishment costs 0 (20,599)
Dividends paid on common stock (27,198) (27,789)
Proceeds from issuance of common stock 263 51
Repurchases of common stock (60,431) 0
Payroll tax payments for equity award issuances (1,593) (1,215)
Cash flows (used in) provided by financing activities (161,579) 519,930
Net increase in cash and restricted cash 45,980 19,347
Cash and restricted cash at beginning of period 136,040 73,568
Cash and restricted cash at end of period $ 182,020 $ 92,915
[1] The 2023 year-to-date gains on disposition of property and equipment primarily relate to the sale of Jack in the Box restaurant properties to franchisees who were leasing the properties from us prior to the sale