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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 25, 2022
Sep. 26, 2021
Operating activities    
Net income before attribution to noncontrolling interests $ 45,621 $ 99,414
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision (benefit) for allowance for credit losses on accounts and notes receivable 18,576 (920)
Depreciation and amortization 38,012 36,830
Refranchising and impairment loss 12,065 0
Deferred income taxes 519 (5,113)
Stock-based compensation expense 14,246 12,519
Other (466) 1,052
Changes in operating assets and liabilities, net of acquisitions:    
Accounts receivable (19,584) 5,955
Income tax receivable (1,146) 674
Inventories (8,185) (3,217)
Prepaid expenses and other current assets 2,065 11,277
Other assets and liabilities (4,919) (8,627)
Accounts payable 16,188 5,014
Income and other taxes payable (1,789) 15,958
Accrued expenses and other current liabilities (32,404) 24,001
Deferred revenue (2,246) (1,193)
Net cash provided by operating activities 76,553 193,624
Investing activities    
Purchases of property and equipment (48,424) (41,328)
Notes issued (2,248) (14,637)
Repayments of notes issued 8,125 15,352
Acquisitions, net of cash acquired (1,346) (699)
Proceeds from refranchising, net of cash transferred 13,588 0
Other 76 121
Net cash used in investing activities (30,229) (41,191)
Financing activities    
Proceeds from issuance of senior notes 0 400,000
Net proceeds of revolving credit facilities 66,999 15,000
Debt issuance costs 0 (9,179)
Proceeds from exercise of stock options 2,730 11,211
Repurchase of Series B Convertible Preferred Stock 0 (188,647)
Acquisition of Company common stock (95,000) (20,555)
Dividends paid to common stockholders (39,949) (27,640)
Dividends paid to preferred stockholders 0 (6,394)
Tax payments for equity award issuances (9,426) (5,310)
Distributions to noncontrolling interests (1,090) (2,914)
Repayments of term loan 0 (340,000)
Other (3,480) (2,630)
Net cash used in financing activities (79,216) (177,058)
Effect of exchange rate changes on cash and cash equivalents (1,100) 234
Change in cash and cash equivalents (33,992) (24,391)
Cash and cash equivalents at beginning of period 70,610 130,204
Cash and cash equivalents at end of period $ 36,618 $ 105,813