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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 27, 2020
Sep. 29, 2019
Operating activities    
Net income before attribution to noncontrolling interests $ 47,341 $ 7,335
Adjustments to reconcile net income to net cash provided by operating activities:    
(Credit) provision for uncollectible accounts and notes receivable (334) 1,646
Depreciation and amortization 37,436 35,102
Deferred income taxes (4,696) (2,386)
Preferred stock option mark-to-market adjustment   5,914
Stock-based compensation expense 13,071 12,295
Refranchising gains   (1,889)
Other 1,233 3,618
Changes in operating assets and liabilities:    
Accounts receivable (4,378) (8,682)
Income tax receivable 3,131 10,241
Inventories (1,173) 1,891
Prepaid expenses and other current assets 14,393 (4,837)
Other assets and liabilities 18,080 (3,245)
Accounts payable 3,147 14,921
Income and other taxes payable 2,435 1,285
Accrued expenses and other current liabilities 40,112 (19,149)
Deferred revenue (1,251) (4,061)
Net cash provided by operating activities 168,547 49,999
Investing activities    
Purchases of property and equipment (24,269) (27,547)
Notes issued (13,240) (7,073)
Repayments of notes issued 8,906 3,415
Proceeds from divestitures of restaurants   5,995
Other 15 1,068
Net cash used in investing activities (28,588) (24,142)
Financing activities    
Proceeds from issuance of preferred stock   252,530
Repayments of term loan (15,000) (10,000)
Net repayments of revolving credit facilities (5,000) (236,966)
Dividends paid to common stockholders (21,856) (21,371)
Dividends paid to preferred stockholders (10,237) (6,608)
Issuance costs associated with preferred stock   (7,535)
Tax payments for equity award issuances (1,665) (1,150)
Proceeds from exercise of stock options 29,204 332
Contributions from noncontrolling interests   840
Distributions to noncontrolling interests (1,778) (645)
Other (1,105) (101)
Net cash used in financing activities (27,437) (30,674)
Effect of exchange rate changes on cash and cash equivalents (383) (73)
Change in cash and cash equivalents 112,139 (4,890)
Cash and cash equivalents at beginning of period 27,911 33,258
Cash and cash equivalents at end of period $ 140,050 $ 28,368