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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 17, 2018
Jun. 18, 2017
Jun. 17, 2018
Jun. 18, 2017
Cash flows from operating activities:        
Net income $ 77,408 $ 65,741 $ 166,235 $ 128,210
Adjustments to reconcile net income to net cash provided by operating activities:        
Depreciation and amortization 12,240 10,275 23,310 19,773
Losses on sale/disposal of assets 154 163 519 345
Amortization of debt issuance costs     5,469 2,714
Provision for deferred income taxes     1,484 3,581
Non-cash compensation expense 5,379 4,413 11,443 9,633
Excess tax benefits from equity-based compensation     (15,318) (16,906)
Other     111 204
Changes in operating assets and liabilities     (50,165) (32,468)
Changes in advertising fund assets and liabilities, restricted     11,624 (2,316)
Net cash provided by operating activities     154,712 112,770
Cash flows from investing activities:        
Capital expenditures     (37,290) (25,230)
Proceeds from sale of assets     323 26
Maturities of advertising fund investments, restricted     29,007  
Purchases of advertising fund investments, restricted     (35,152)  
Other     (672) 493
Net cash used in investing activities     (43,784) (24,711)
Cash flows from financing activities:        
Proceeds from issuance of long-term debt     905,000  
Repayments of long-term debt and capital lease obligations     (586,133) (9,766)
Proceeds from exercise of stock options     5,206 3,884
Purchases of common stock (219,000)   (320,067) (12,721)
Tax payments for restricted stock upon vesting     (2,318) (4,911)
Payments of common stock dividends and equivalents     (23,538) (22,280)
Cash paid for financing costs     (8,207)  
Net cash used in financing activities     (30,057) (45,794)
Effect of exchange rate changes on cash     (132) 36
Change in cash and cash equivalents, restricted cash and cash equivalents     80,739 42,301
Cash and cash equivalents, beginning of period     35,768 [1] 42,815
Restricted cash and cash equivalents, beginning of period     191,762 [1] 126,496
Cash and cash equivalents included in advertising fund assets, restricted, beginning of period     27,316 25,091
Cash and cash equivalents, restricted cash and cash equivalents and cash and cash equivalents included in advertising fund assets, restricted, beginning of period     254,846 194,402
Cash and cash equivalents, end of period 157,788 52,243 157,788 52,243
Restricted cash and cash equivalents, end of period 144,970 161,685 144,970 161,685
Cash and cash equivalents included in advertising fund assets, restricted, end of period 32,827 22,775 32,827 22,775
Cash and cash equivalents, restricted cash and cash equivalents and cash and cash equivalents included in advertising fund assets, restricted, end of period $ 335,585 $ 236,703 $ 335,585 $ 236,703
[1] Note: The balance sheet at December 31, 2017 has been derived from the audited consolidated financial statements at that date but does not include all of the information and footnotes required by accounting principles generally accepted in the United States for complete financial statements.