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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 15, 2025
Jun. 16, 2024
Jun. 15, 2025
Jun. 16, 2024
Cash flows from operating activities:        
Net Income (Loss) $ 131,091 $ 141,978 $ 280,742 $ 267,802
Adjustments to reconcile net income to net cash provided by operating activities:        
Depreciation and amortization 20,351 20,349 40,713 40,218
Refranchising (gain) loss (3,883) 25 (3,883) 158
Loss on sale/disposal of assets 346 237 612 327
Amortization of debt issuance costs     2,419 2,475
Benefit for deferred income taxes     (2,700) (6,246)
Non-cash equity-based compensation expense 10,975 10,686 21,356 22,024
Excess tax benefits from equity-based compensation     (2,343) (20,238)
(Benefit) provision for losses on accounts and notes receivable     (4) 111
Unrealized and realized (gain) loss on investments, net     (8,053) 7,301
Changes in operating assets and liabilities     19,663 (31,660)
Changes in advertising fund assets and liabilities, restricted     18,338 (8,122)
Net cash provided by operating activities     366,860 274,150
Cash flows from investing activities:        
Capital expenditures     (35,231) (43,683)
Sale of investments     44,085 0
Proceeds from sale of assets     8,458 73
Other     (2,517) (1,350)
Net cash provided by (used in) investing activities     14,795 (44,960)
Cash flows from financing activities:        
Repayments of long-term debt and finance lease obligations     (1,861) (14,764)
Proceeds from exercise of stock options     12,319 31,467
Purchases of common stock     (203,041) (25,000)
Tax payments for restricted stock upon vesting     (8,472) (9,260)
Payments of common stock dividends and equivalents     (60,257) (53,100)
Net cash used in financing activities     (261,312) (70,657)
Effect of exchange rate changes on cash     1,848 (990)
Change in cash and cash equivalents, restricted cash and cash equivalents     122,191 157,543
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 272,859 283,699 272,859 283,699
Restricted cash and cash equivalents, end of period 211,734 197,019 211,734 197,019
Cash and cash equivalents included in advertising fund assets, restricted, end of period 100,022 79,958 100,022 79,958
Cash and cash equivalents, restricted cash and cash equivalents and cash and cash equivalents included in advertising fund assets, restricted, end of period $ 584,615 $ 560,676 $ 584,615 $ 560,676