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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 29, 2015
Sep. 30, 2014
Operating activities    
Net income $ 2,931 $ 1,744
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 47,151 48,030
Amortization of debt issuance costs 2,893 2,765
Deferred income taxes (5,491) (4,489)
Other 335 (790)
Changes in assets and liabilities, excluding the effect of acquisitions:    
Accounts receivable 4,379 1,442
Inventories 512 (1,803)
Prepaid expenses and other current assets 2,388 1,548
Accounts payable (237) 3,332
Income taxes (798) (366)
Accrued interest (6,663) (4,245)
Accrued liabilities 6,649 9,461
Insurance reserves 3,622 3,032
Other deferred items 20 (2,393)
Other assets (148) (264)
Net cash provided by operating activities 63,270 57,725
Investing activities    
Capital expenditures (41,997) (50,507)
Acquisition of Wendy’s business, net of cash acquired 0 (56,803)
Proceeds from sale-leaseback transactions 1,408 19,429
Proceeds from sale or disposition of assets 521 2,888
Net cash used in investing activities (40,068) (84,993)
Financing activities    
Borrowings under revolving credit facility 59,000 127,500
Payments under revolving credit facility (59,000) (134,500)
Issuance of debt 0 40,000
Payments on term bank facilities (3,119) (2,704)
Debt issue costs 0 (693)
Purchase of Company stock 0 140
Payment of accrued purchase price to sellers 0 (10,875)
Net cash (used in) provided by financing activities (3,119) 18,868
Net change in cash and cash equivalents 20,083 (8,400)
Beginning cash and cash equivalents 12,063 20,035
Ending cash and cash equivalents 32,146 11,635
Supplemental disclosures of cash flow information:    
Net cash paid for interest 34,848 31,909
Net cash paid for income taxes 2,808 3,266
Non-cash investing activities:    
Accrued capital expenditures $ 4,138 $ 993