XML 24 R8.htm IDEA: XBRL DOCUMENT v3.20.4
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Jan. 03, 2021
Dec. 29, 2019
Dec. 30, 2018
Cash flows from operating activities:      
Net income $ 491,296 $ 400,709 $ 361,972
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 65,038 59,930 53,665
Loss (gain) on sale/disposal of assets 2,922 2,023 (4,737)
Amortization of debt issuance costs 5,526 4,748 8,033
Provision (Benefit) for deferred income taxes 14,424 (3,297) (872)
Non-cash equity-based compensation expense 24,244 20,265 22,792
Excess tax benefits from equity-based compensation (60,364) (25,735) (23,786)
Provision for losses on accounts and notes receivable 2,134 1,195 899
Changes in operating assets and liabilities:      
Changes in accounts receivable (33,334) (20,900) (18,172)
Changes in inventories, prepaid expenses and other (24,959) (6,741) (12,455)
Changes in accounts payable and accrued liabilities 68,954 66,137 10,010
Changes in insurance reserves 5,544 5,322 2,174
Changes in operating lease assets and liabilities 2,592 3,302  
Changes in advertising fund assets and liabilities, restricted 28,777 (10,008) (5,352)
Net cash provided by operating activities 592,794 496,950 394,171
Cash flows from investing activities:      
Capital expenditures (88,768) (85,565) (119,888)
Purchase of investments (Note 9) (40,000)    
Proceeds from sale of assets 174 12,258 8,367
Maturities of advertising fund investments, restricted   50,152 94,007
Purchases of advertising fund investments, restricted     (70,152)
Purchases of franchise operations and other assets   (3,423)  
Other (333) (1,276) (591)
Net cash used in investing activities (128,927) (27,854) (88,257)
Cash flows from financing activities:      
Proceeds from issuance of long-term debt 158,000 675,000 970,000
Repayments of long-term debt and finance lease obligations (202,058) (92,085) (604,088)
Proceeds from exercise of stock options 30,970 13,064 9,832
Purchases of common stock (304,590) (699,007) (591,212)
Tax payments for restricted stock upon vesting (6,803) (5,951) (6,962)
Payments of common stock dividends and equivalents (121,925) (105,715) (92,166)
Cash paid for financing costs   (8,098) (8,207)
Net cash used in financing activities (446,406) (222,792) (322,803)
Effect of exchange rate changes on cash 761 201 (538)
Change in cash and cash equivalents, restricted cash and cash equivalents 18,222 246,505 (17,427)
Cash and cash equivalents, beginning of period 190,615 25,438 35,768
Restricted cash and cash equivalents, beginning of period 209,269 166,993 191,762
Cash and cash equivalents included in advertising fund assets, restricted, beginning of period 84,040 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 483,924 237,419 254,846
Cash and cash equivalents, end of period 168,821 190,615 25,438
Restricted cash and cash equivalents, end of period 217,453 209,269 166,993
Cash and cash equivalents included in advertising fund assets, restricted, end of period 115,872 84,040 44,988
Cash and cash equivalents, restricted cash and cash equivalents and cash and cash equivalents included in advertising fund assets, restricted, end of period $ 502,146 $ 483,924 $ 237,419