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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Jun. 24, 2023
Jun. 25, 2022
Operating activities    
Net income $ 8,829 $ 12,484
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 18,390 20,100
Share-based compensation expense 539 1,153
(Gain) loss on disposal of assets (896) 377
Gain on divestiture   (2,394)
Deferred income tax expense 1,866 (3,409)
Change in operating assets and liabilities (excluding acquisitions)    
Accounts receivable (826) (1,038)
Inventories 6,334 184
Other current assets 13,990 (31)
Other non-current assets 129 9,256
Accounts payable 13,902 23,959
Accrued expenses 17,306 11,626
Federal and state income taxes payable 1,464 12,929
Other long-term liabilities (9,298) (8,020)
Long-term income taxes payable 2 29
Cash provided by operating activities 71,731 77,205
Investing activities    
Capital expenditures (7,680) (8,213)
Acquisitions, net of cash acquired   (241)
Proceeds from divestiture   56,586
Deferred proceeds received from divestiture 3,942  
Proceeds from the disposal of assets 1,108 724
Cash (used for) provided by investing activities (2,630) 48,856
Financing activities    
Proceeds from borrowings 16,754 43,909
Principal payments on long-term debt, finance leases and financing obligations (66,514) (120,588)
Repurchase of stock   (17,216)
Exercise of stock options 17  
Dividends paid (8,926) (9,466)
Cash used for financing activities (58,669) (103,361)
Increase in cash and equivalents 10,432 22,700
Cash and equivalents at beginning of period 4,884 7,948
Cash and equivalents at end of period 15,316 30,648
Supplemental information    
Leased assets (reduced) obtained in exchange for (reduced) new finance lease liabilities (2,158) (989)
Leased assets obtained in exchange for new operating lease liabilities $ 6,436 $ 7,878