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Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Cash flows from operating activities:    
Net income $ 60,974 $ 147,197
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense 43,688 43,547
Amortization of debt costs 9,893 9,419
Stock-based compensation 6,025 7,191
Long-lived asset impairments 23,217 3,045
Gains on refranchising (384) (18,283)
Changes in assets and liabilities:    
Decrease in receivables 1,204 3,519
Decrease (Increase) in inventory 43,468 (71,760)
(Increase) in prepaid and other current assets (2,502) (5,342)
(Decrease) Increase in accounts payable (19,732) 35,700
(Decrease) Increase in deferred revenue and accrued liabilities (18,769) 13,515
Other operating activities 2,486 1,999
Net cash provided by operating activities 149,568 169,747
Cash flows from investing activities:    
Capital expenditures (26,210) (35,368)
Refranchising proceeds 3,410 30,306
Store acquisition costs (1,930) (1,918)
Net cash used in investing activities (24,730) (6,980)
Cash flows from financing activities:    
Borrowings under revolving credit facility 177,500 197,000
Payments on revolving credit facility (256,500) (103,000)
Payments on term loan facility (40,853) (3,412)
Debt issuance costs 0 (1,712)
Proceeds from exercise of stock options 0 343
Gross excess tax benefit from stock-based compensation 0 162
Minimum tax withholding requirements (252) (1,126)
Cash paid for treasury stock 0 (229,169)
Dividends paid to shareholders 0 (41,613)
Net cash used in financing activities (120,105) (182,527)
Effect of exchange rate changes on cash and cash equivalents 921 501
Net increase (decrease) in cash and cash equivalents 5,654 (19,259)
Beginning balance, cash and cash equivalents 34,464 56,462
Ending balance, cash and cash equivalents 40,118 37,203
Non-cash investing activities:    
Accrued capital expenditures 2,141 3,432
Receivable related to sale of Lucky Vitamin $ 7,117 $ 0