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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 24, 2023
Sep. 25, 2022
Operating activities    
Net income before attribution to noncontrolling interests $ 56,356 $ 45,621
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for allowance for credit losses on accounts and notes receivable 1,348 18,576
Depreciation and amortization 46,815 38,012
Refranchising and impairment loss 0 12,065
Deferred income taxes 3,481 519
Stock-based compensation expense 13,224 14,246
Other 331 (466)
Changes in operating assets and liabilities, net of acquisitions:    
Accounts receivable (11,643) (19,584)
Income tax receivable 7,617 (1,146)
Inventories 3,875 (8,185)
Prepaid expenses and other current assets (2,104) 2,065
Other assets and liabilities 2,057 (4,919)
Accounts payable 15,237 16,188
Income and other taxes payable 1,087 (1,789)
Accrued expenses and other current liabilities (6,579) (32,404)
Deferred revenue (4,166) (2,246)
Net cash provided by operating activities 126,936 76,553
Investing activities    
Purchases of property and equipment (50,905) (48,424)
Notes issued (7,310) (2,248)
Repayments of notes issued 5,759 8,125
Acquisitions, net of cash acquired (5,599) (1,346)
Proceeds from refranchising, net of cash transferred 0 13,588
Other 401 76
Net cash used in investing activities (57,654) (30,229)
Financing activities    
Net proceeds of revolving credit facilities 185,789 66,999
Proceeds from exercise of stock options 1,816 2,730
Acquisition of Company common stock (210,348) (95,000)
Dividends paid to common stockholders (43,641) (39,949)
Tax payments for equity award issuances (6,279) (9,426)
Distributions to noncontrolling interests (651) (1,090)
Other (5,825) (3,480)
Net cash used in financing activities (79,139) (79,216)
Effect of exchange rate changes on cash and cash equivalents (24) (1,100)
Change in cash and cash equivalents (9,881) (33,992)
Cash and cash equivalents at beginning of period 47,373 70,610
Cash and cash equivalents at end of period $ 37,492 $ 36,618