XML 14 R6.htm IDEA: XBRL DOCUMENT v3.22.1
Unaudited Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 29, 2022
Mar. 30, 2021
Cash flows from operating activities:    
Net income (loss) $ 1,460 $ (3,141)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 17,976 18,203
Non-cash lease expense 8,230 7,606
Amortization of financing costs 54 137
Deferred income taxes (10,315) (6,299)
Stock-based compensation expense 2,712 2,419
Loss on disposal and impairment of assets 157 273
Changes in assets and liabilities:    
Accounts and other receivables 6,277 (172)
Inventories, net 334 392
Prepaid expenses and other current assets 526 543
Other assets, net (2,181) 484
Accounts payable 130 6,078
Accrued expenses (15,271) (1,453)
Operating lease obligations (9,912) (10,844)
Other liabilities 432 (14)
Net cash provided by operating activities 609 14,212
Cash flows from investing activities:    
Purchases of property and equipment (12,096) (6,877)
Proceeds from sale of assets 566  
Net cash used in investing activities (11,530) (6,877)
Cash flows from financing activities:    
Borrowings on line of credit 170,000 442,200
Payments on line of credit (170,000) (442,200)
Payments of debt issuance costs (3) (315)
Proceeds from issuance of common stock, net   28,957
Taxes paid on vested stock units under employee plans (360) (924)
Proceeds from exercise of stock options   3,610
Cash dividends accrued under stock compensation plans (42) (80)
Net cash (used in) provided by financing activities (405) 31,248
Net (decrease) increase in cash and cash equivalents (11,326) 38,583
Cash and cash equivalents, beginning of period 38,527 51,664
Cash and cash equivalents, end of period 27,201 90,247
Supplemental disclosure of cash flow information:    
Cash paid for income taxes 266 4
Cash paid for interest, net of capitalized interest 360 1,459
Cash paid for operating lease obligations 16,635 17,285
Supplemental disclosure of non-cash operating, investing and financing activities:    
Operating lease assets obtained in exchange for operating lease obligations 7,278 3,946
Tenant improvement allowance receivable 1,601 4,163
Property and equipment acquired and included in accounts payable 8,327 2,295
Stock-based compensation capitalized [1] $ 76 $ 96
[1] Capitalized stock-based compensation relates to our restaurant development personnel and is included in “Property and equipment, net” on the Consolidated Balance Sheets.