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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 25, 2021
Sep. 26, 2020
Cash flows from operating activities:    
Net income $ 86,234 $ 99,497
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 77,232 74,003
(Gain) loss on disposition of fixed assets 524 2,618
Unrealized (gain) loss in value of equity securities 463 1,892
Deferred income taxes 7,812 3,247
Unrealized (gain) loss in SERP (2,130) (760)
Changes in operating assets and liabilities:    
Inventories 11,161 13,816
Accounts receivable and prepaid expenses 11,289 (1,393)
Accounts payable and other liabilities (20,868) 4,694
Income taxes 10,164 587
Other 224 (4,020)
Net cash provided by operating activities 182,105 194,181
Cash flows from investing activities:    
Purchase of property and equipment (118,156) (83,574)
Proceeds from the sale of property and equipment 5,856 308
Purchase of marketable securities (19,455) (38,259)
Proceeds from the sale and maturities of marketable securities 12,275 3,690
Purchase of intangible assets (165) (127)
Change in SERP investment (1,488) (666)
Net cash used in investing activities (121,133) (118,628)
Cash flows from financing activities:    
Dividends paid (25,016) (25,016)
Net cash used in financing activities (25,016) (25,016)
Net increase in cash and cash equivalents 35,956 50,537
Cash and cash equivalents at beginning of year 136,612 66,871
Cash and cash equivalents at end of period $ 172,568 $ 117,408