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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 23, 2025
Mar. 24, 2024
Cash flows from operating activities:    
Net Income (Loss) $ 149,651 $ 125,824
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 20,362 19,869
Refranchising loss 0 133
Loss on sale/disposal of assets 266 90
Amortization of debt issuance costs 1,210 1,266
Benefit for deferred income taxes (2,290) (3,757)
Non-cash equity-based compensation expense 10,381 11,338
Excess tax benefits from equity-based compensation (1,569) (8,104)
Benefit for losses on accounts and notes receivable (57) (8)
Unrealized (gain) loss on investments (24,027) 18,699
Changes in operating assets and liabilities 34,244 (9,961)
Changes in advertising fund assets and liabilities, restricted (9,095) (31,925)
Net cash provided by operating activities 179,076 123,464
Cash flows from investing activities:    
Capital expenditures (14,745) (20,181)
Other (1,225) (1,305)
Net cash used in investing activities (15,970) (21,486)
Cash flows from financing activities:    
Repayments of long-term debt and finance lease obligations (646) (13,525)
Proceeds from exercise of stock options 7,529 10,774
Purchases of common stock (50,000) (25,000)
Tax payments for restricted stock upon vesting (8,158) (6,700)
Payments of common stock dividends and equivalents (617) (343)
Net cash used in financing activities (51,892) (34,794)
Effect of exchange rate changes on cash 296 (672)
Change in cash and cash equivalents, restricted cash and cash equivalents 111,510 66,512
Cash and cash equivalents, beginning of period 186,126 114,098
Restricted cash and cash equivalents, beginning of period 195,370 200,870
Cash and cash equivalents included in advertising fund assets, restricted, beginning of period 80,928 88,165
Cash and cash equivalents, restricted cash and cash equivalents and cash and cash equivalents included in advertising fund assets, restricted, beginning of period 462,424 403,133
Cash and cash equivalents, end of period 304,320 203,894
Restricted cash and cash equivalents, end of period 197,412 209,752
Cash and cash equivalents included in advertising fund assets, restricted, end of period 72,202 55,999
Cash and cash equivalents, restricted cash and cash equivalents and cash and cash equivalents included in advertising fund assets, restricted, end of period $ 573,934 $ 469,645