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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 28, 2025
Dec. 29, 2024
Dec. 31, 2023
Cash flows from operating activities:      
Net Income (Loss) $ 601,704 $ 584,170 $ 519,118
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 88,827 87,732 80,640
Refranchising (gain) loss (4,028) 158 149
Loss on sale/disposal of assets 1,855 1,527 1,299
Amortization of debt issuance costs 5,748 5,298 5,535
Provision (benefit) for deferred income taxes 1,288 (9,117) (19,509)
Non-cash equity-based compensation expense 44,640 43,255 37,514
Excess tax benefits from equity-based compensation (3,158) (22,241) (3,397)
(Benefit) provision for losses on accounts and notes receivable (109) 191 1,472
Unrealized and realized losses (gains) on investments, net 2,544 (22,064) (17,713)
Changes in operating assets and liabilities:      
Accounts receivable (6,149) (27,353) (26,515)
Inventories, prepaid expenses and other (6,700) 6,651 160
Accounts payable and accrued liabilities 53,637 (10,218) 69,373
Insurance reserves 536 (5,557) (5,163)
Operating lease assets and liabilities 691 (558) 632
Advertising fund assets and liabilities, restricted 10,736 (6,977) (52,731)
Net cash provided by operating activities 792,062 624,897 590,864
Cash flows from investing activities:      
Capital expenditures (120,558) (112,885) (105,396)
Sale of investments 44,085 82,918 0
Proceeds from sale of assets 8,558 74 161
Other (2,275) (1,336) (1,682)
Net cash used in investing activities (70,190) (31,229) (106,917)
Cash flows from financing activities:      
Proceeds from issuance of long-term debt 1,000,000 0 14,898
Repayments of long-term debt and finance lease obligations (1,149,528) (17,647) (55,705)
Proceeds from exercise of stock options 18,792 36,024 8,656
Purchases of common stock (357,697) (329,557) (269,025)
Tax payments for restricted stock upon vesting (11,360) (11,098) (5,410)
Payments of common stock dividends and equivalents (236,861) (209,945) (169,772)
Cash paid for financing costs (15,439) 0 0
Net cash used in financing activities (752,093) (532,223) (476,358)
Effect of exchange rate changes on cash 1,782 (2,154) 340
Change in cash and cash equivalents, restricted cash and cash equivalents (28,439) 59,291 7,929
Cash and cash equivalents, beginning of period 186,126 114,098 60,356
Restricted cash and cash equivalents, beginning of period 195,370 200,870 191,289
Cash and cash equivalents included in advertising fund assets, restricted, beginning of period 80,928 88,165 143,559
Cash and cash equivalents, restricted cash and cash equivalents and cash and cash equivalents included in advertising fund assets, restricted, beginning of period 462,424 403,133 395,204
Cash and cash equivalents, end of period 125,675 186,126 114,098
Restricted cash and cash equivalents, end of period 216,110 195,370 200,870
Cash and cash equivalents included in advertising fund assets, restricted, end of period 92,200 80,928 88,165
Cash and cash equivalents, restricted cash and cash equivalents and cash and cash equivalents included in advertising fund assets, restricted, end of period $ 433,985 $ 462,424 $ 403,133