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Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Cash flows from operating activities:    
Net income $ 39,511 $ 114,843
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense 30,854 28,209
Amortization of debt costs 6,602 6,245
Stock-based compensation 2,709 2,949
Long-lived asset impairments (Note 4) 19,356 0
Gains on refranchising (154) (17,900)
Changes in assets and liabilities:    
Decrease in receivables 13,227 15,121
Decrease (Increase) in inventory 11,073 (53,073)
Decrease (Increase) in prepaid and other current assets 2,710 (11,715)
(Decrease) Increase in accounts payable (38,607) 36,751
(Decrease) Increase in deferred revenue and accrued liabilities (14,840) 6,558
Other operating activities 409 2,901
Net cash provided by operating activities 72,850 130,889
Cash flows from investing activities:    
Capital expenditures (20,397) (20,809)
Refranchising proceeds 2,160 1,831
Store acquisition costs (432) (1,395)
Net cash used in investing activities (18,669) (20,373)
Cash flows from financing activities:    
Borrowings under revolving credit facility 151,000 182,000
Payments on revolving credit facility (147,000) (40,000)
Payments on term loan facility (40,853) (2,275)
Debt issuance costs 0 (1,712)
Proceeds from exercise of stock options 0 305
Gross excess tax benefit from stock-based compensation 0 156
Minimum tax withholding requirements (247) (622)
Cash paid for treasury stock 0 (229,169)
Dividends paid to shareholders 0 (27,974)
Net cash used in financing activities (37,100) (119,291)
Effect of exchange rate changes on cash and cash equivalents 454 533
Net increase (decrease) in cash and cash equivalents 17,535 (8,242)
Beginning balance, cash and cash equivalents 34,464 56,462
Ending balance, cash and cash equivalents 51,999 48,220
Non-cash investing activities:    
Accrued capital expenditures 2,141 2,714
Receivable related to sale of 84 company-owned stores to a franchisee $ 0 $ 28,054