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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 29, 2024
Dec. 31, 2023
Jan. 01, 2023
Cash flows from operating activities:      
Net Income (Loss) $ 584,170 $ 519,118 $ 452,263
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 87,732 80,640 80,251
Refranchising loss (gain) 158 149 (21,173)
Loss on sale/disposal of assets 1,527 1,299 1,813
Amortization of debt issuance costs 5,298 5,535 5,645
(Benefit) provision for deferred income taxes (9,117) (19,509) 253
Non-cash equity-based compensation expense 43,255 37,514 28,709
Excess tax benefits from equity-based compensation (22,241) (3,397) (2,169)
Provision for losses on accounts and notes receivable 191 1,472 3,536
Unrealized and realized gain on investments, net (22,064) (17,713) 0
Changes in operating assets and liabilities:      
Accounts receivable (27,353) (26,515) (6,333)
Inventories, prepaid expenses and other 6,651 160 (17,059)
Accounts payable and accrued liabilities (10,218) 69,373 (36,605)
Insurance reserves (5,557) (5,163) 1,507
Operating lease assets and liabilities (558) 632 2,174
Advertising fund assets and liabilities, restricted (6,977) (52,731) (17,495)
Net cash provided by operating activities 624,897 590,864 475,317
Cash flows from investing activities:      
Capital expenditures (112,885) (105,396) (87,234)
Sale of investments 82,918 0 0
Proceeds from sale of assets 74 161 41,089
Purchases of franchise operations and other assets 0 0 (6,814)
Other (1,336) (1,682) (722)
Net cash used in investing activities (31,229) (106,917) (53,681)
Cash flows from financing activities:      
Proceeds from issuance of long-term debt 0 14,898 120,000
Repayments of long-term debt and finance lease obligations (17,647) (55,705) (175,676)
Proceeds from exercise of stock options 36,024 8,656 3,312
Purchases of common stock (329,557) (269,025) (293,740)
Tax payments for restricted stock upon vesting (11,098) (5,410) (10,720)
Payments of common stock dividends and equivalents (209,945) (169,772) (157,531)
Cash paid for financing costs 0 0 (1,594)
Net cash used in financing activities (532,223) (476,358) (515,949)
Effect of exchange rate changes on cash (2,154) 340 (963)
Change in cash and cash equivalents, restricted cash and cash equivalents 59,291 7,929 (95,276)
Cash and cash equivalents, beginning of period 114,098 60,356 148,160
Restricted cash and cash equivalents, beginning of period 200,870 191,289 180,579
Cash and cash equivalents included in advertising fund assets, restricted, beginning of period 88,165 143,559 161,741
Cash and cash equivalents, restricted cash and cash equivalents and cash and cash equivalents included in advertising fund assets, restricted, beginning of period 403,133 395,204 490,480
Cash and cash equivalents, end of period 186,126 114,098 60,356
Restricted cash and cash equivalents, end of period 195,370 200,870 191,289
Cash and cash equivalents included in advertising fund assets, restricted, end of period 80,928 88,165 143,559
Cash and cash equivalents, restricted cash and cash equivalents and cash and cash equivalents included in advertising fund assets, restricted, end of period $ 462,424 $ 403,133 $ 395,204