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Unaudited Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jul. 01, 2025
Jul. 02, 2024
Cash flows from operating activities:    
Net income $ 35,700 $ 24,880
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 37,013 36,036
Non-cash lease expense 17,042 15,838
Amortization of financing costs 108 109
Deferred income taxes (2,107) (4,831)
Stock-based compensation expense 3,857 5,243
Loss on disposal and impairment of assets, net 368 2,712
Equity method investment 225 293
Changes in assets and liabilities:    
Accounts and other receivables 2,480 4,202
Inventories, net 634 188
Prepaid expenses and other current assets 2,976 4,454
Other assets, net (1,177) (3,779)
Accounts payable (2,088) (8,749)
Accrued expenses (7,939) (12,427)
Operating lease obligations (19,750) (23,761)
Other liabilities (442) 2,124
Net cash provided by operating activities 66,900 42,532
Cash flows from investing activities:    
Purchases of property and equipment (37,056) (41,349)
Proceeds from disposal of assets 37 0
Net cash used in investing activities (37,019) (41,349)
Cash flows from financing activities:    
Borrowings on line of credit 418,000 453,900
Payments on line of credit (424,000) (458,400)
Payments of debt issuance costs (834) 0
Taxes paid on vested stock units under employee plans (649) (892)
Proceeds from exercise of stock options 6,700 168
Cash dividends accrued under stock compensation plans 0 (9)
Repurchase of common stock (29,230) (8,835)
Net cash used in financing activities (30,013) (14,068)
Net decrease in cash and cash equivalents (132) (12,885)
Cash and cash equivalents, beginning of period 26,096 29,070
Cash and cash equivalents, end of period 25,964 16,185
Supplemental disclosure of cash flow information:    
Cash paid for income taxes 1,248 3,712
Cash paid for interest, net of capitalized interest 2,018 2,311
Cash paid for operating lease obligations 32,443 31,153
Supplemental disclosure of non-cash investing and financing activities:    
Operating lease assets obtained in exchange for operating lease obligations 2,798 13,552
Property and equipment acquired and included in accounts payable 5,654 8,639
Stock-based compensation capitalized [1] $ 169 $ 163
[1] Capitalized stock-based compensation relates to our restaurant development personnel and is included in “Property and equipment, net” on the Consolidated Balance Sheets.