XML 16 R7.htm IDEA: XBRL DOCUMENT v3.22.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 29, 2022
Jun. 30, 2021
Jun. 29, 2022
Jun. 30, 2021
Cash flows from operating activities:        
Net income $ 7,141 $ 8,818 $ 9,256 $ 12,782
Adjustments to reconcile net income to net cash flows provided by provided by operating activities:        
Depreciation and amortization 3,618 3,917 7,215 7,855
Stock-based compensation expense 1,000 1,000 1,796 1,894
Income tax receivable agreement income (186) 27 (316) (50)
Loss on assets held for sale   1,524   1,524
Loss on disposal of assets 42 85 108 111
Impairment of property and equipment 200 400 253 666
Amortization of deferred financing costs     126 126
Deferred income taxes, net     1,180 881
Changes in operating assets and liabilities:        
Accounts and other receivables     (592) (507)
Inventories     68 73
Prepaid expenses and other current assets     262 558
Income taxes receivable     (2,316) 2,014
Other assets     (812) (312)
Accounts payable     (454) (557)
Accrued salaries and vacation     (1,891) 279
Accrued insurance     281 362
Other accrued expenses and liabilities     (2,344) (1,075)
Net cash flows provided by operating activities     11,820 26,624
Cash flows from investing activities:        
Proceeds from disposition of restaurants       4,556
Purchase of property and equipment     (8,831) (8,828)
Net cash flows used in investing activities     (8,831) (4,272)
Cash flows from financing activities:        
Payments on revolver and swingline loan       (22,800)
Minimum tax withholdings related to net share settlements     (218) (660)
Proceeds from issuance of common stock upon exercise of stock options, net of expenses     1,580 566
Payment of obligations under finance leases     (86) (53)
Net cash flows provided by (used in) financing activities     1,276 (22,947)
Increase (decrease) in cash and cash equivalents     4,265 (595)
Cash and cash equivalents, beginning of period     30,046 13,219
Cash and cash equivalents, end of period $ 34,311 $ 12,624 34,311 12,624
Supplemental cash flow information        
Cash paid during the period for interest     531 598
Cash paid during the period for income taxes     5,097 2,094
Unpaid purchases of property and equipment     $ 1,388 $ 1,038