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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 8 Months Ended
Sep. 08, 2019
Sep. 09, 2018
Sep. 08, 2019
Sep. 09, 2018
Cash flows from operating activities:        
Net income $ 86,373 $ 84,095 $ 271,382 $ 250,330
Adjustments to reconcile net income to net cash provided by operating activities:        
Depreciation and amortization 13,132 12,460 40,982 35,770
Loss (gain) on sale/disposal of assets 312 (5,706) 3,141 (5,187)
Amortization of debt issuance costs     3,288 6,581
Provision for deferred income taxes     1,627 1,737
Non-cash compensation expense 4,680 4,217 13,269 15,660
Excess tax benefits from equity-based compensation     (19,670) (22,722)
Other     774 356
Changes in operating assets and liabilities     16,214 (25,580)
Changes in advertising fund assets and liabilities, restricted     (6,411) 5,574
Net cash provided by operating activities     324,596 262,519
Cash flows from investing activities:        
Capital expenditures     (42,676) (65,074)
Proceeds from sale of assets     9,738 8,213
Maturities of advertising fund investments, restricted     30,152 44,007
Purchases of advertising fund investments, restricted       (50,152)
Other     (351) (2,357)
Net cash used in investing activities     (3,137) (65,363)
Cash flows from financing activities:        
Proceeds from issuance of long-term debt       905,000
Repayments of long-term debt and finance lease obligations     (91,860) (595,067)
Proceeds from exercise of stock options     10,122 8,967
Purchases of common stock     (105,149) (429,190)
Tax payments for restricted stock upon vesting     (5,820) (6,849)
Payments of common stock dividends and equivalents     (53,598) (46,720)
Cash paid for financing costs       (8,207)
Net cash used in financing activities     (246,305) (172,066)
Effect of exchange rate changes on cash     139 (235)
Change in cash and cash equivalents, restricted cash and cash equivalents     75,293 24,855
Cash and cash equivalents, beginning of period     25,438 [1] 35,768
Restricted cash and cash equivalents, beginning of period     166,993 [1] 191,762
Cash and cash equivalents included in advertising fund assets, restricted, beginning of period     44,988 27,316
Cash and cash equivalents, restricted cash and cash equivalents and cash and cash equivalents included in advertising fund assets, restricted, beginning of period     237,419 254,846
Cash and cash equivalents, end of period 66,706 84,600 66,706 84,600
Restricted cash and cash equivalents, end of period 177,292 168,170 177,292 168,170
Cash and cash equivalents included in advertising fund assets, restricted, end of period 68,714 26,931 68,714 26,931
Cash and cash equivalents, restricted cash and cash equivalents and cash and cash equivalents included in advertising fund assets, restricted, end of period $ 312,712 $ 279,701 $ 312,712 $ 279,701
[1] The balance sheet at December 30, 2018 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.