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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 26, 2022
Jun. 27, 2021
Operating activities    
Net income before attribution to noncontrolling interests $ 37,157 $ 68,873
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision (benefit) for allowance for credit losses on accounts and notes receivable 15,558 (1,200)
Depreciation and amortization 24,674 25,353
Refranchising and impairment loss 11,160 0
Deferred income taxes (2,993) (1,397)
Stock-based compensation expense 9,100 8,202
Other (2,071) 467
Changes in operating assets and liabilities, net of acquisitions:    
Accounts receivable (9,177) 13,299
Income tax receivable 5,369 189
Inventories (3,815) 430
Prepaid expenses and other current assets (3,901) 1,092
Other assets and liabilities (5,379) (11,380)
Accounts payable 12,742 (5,874)
Income and other taxes payable (3,175) 18,500
Accrued expenses and other current liabilities (37,456) 12,123
Deferred revenue (2,208) (647)
Net cash provided by operating activities 45,585 128,030
Investing activities    
Purchases of property and equipment (30,744) (21,543)
Notes issued (1,098) (5,263)
Repayments of notes issued 6,743 7,922
Acquisitions, net of cash acquired (1,250) (699)
Proceeds from refranchising, net of cash transferred 13,588 0
Other 238 116
Net cash used in investing activities (12,523) (19,467)
Financing activities    
Net proceeds of revolving credit facilities 55,000 85,000
Proceeds from exercise of stock options 1,908 8,100
Repurchase of Series B Convertible Preferred Stock 0 (188,647)
Acquisition of Company common stock (75,471) (8,188)
Dividends paid to common stockholders (25,101) (14,844)
Dividends paid to preferred stockholders 0 (6,394)
Tax payments for equity award issuances (7,526) (3,887)
Distributions to noncontrolling interests (835) (2,320)
Repayments of term loan 0 (10,000)
Other 1,348 (1,691)
Net cash used in financing activities (50,677) (142,871)
Effect of exchange rate changes on cash and cash equivalents (871) 317
Change in cash and cash equivalents (18,486) (33,991)
Cash and cash equivalents at beginning of period 70,610 130,204
Cash and cash equivalents at end of period $ 52,124 $ 96,213