XML 16 R7.htm IDEA: XBRL DOCUMENT v3.23.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 29, 2023
Mar. 30, 2022
Cash flows from operating activities:    
Net income $ 4,918 $ 2,115
Adjustments to reconcile net income to net cash flows provided by operating activities:    
Depreciation and amortization 3,637 3,597
Stock-based compensation expense 771 826
Income tax receivable agreement income (122) (130)
Fire insurance proceeds for expenses paid and lost profit 151  
Loss on disposal of assets 30 66
Gain on recovery of insurance proceeds, property, equipment and expenses, net (242)  
Impairment of property and equipment 40 89
Gain on disposition of restaurants (136)  
Amortization of deferred financing costs 58 63
Deferred income taxes, net 723 (1,039)
Changes in operating assets and liabilities:    
Accounts and other receivables (2,218) (645)
Inventories 335 (45)
Prepaid expenses and other current assets (1,073) (867)
Income taxes payable 1,142 1,938
Other assets (51) (357)
Accounts payable (806) (846)
Accrued salaries and vacation (1,733) (5,302)
Accrued insurance 173 396
Other accrued expenses and liabilities (1,778) (2,164)
Net cash flows provided by (used in) operating activities 3,819 (2,305)
Cash flows from investing activities:    
Proceeds from disposition of restaurants 162  
Proceeds from fire insurance for property and equipment 138  
Purchase of property and equipment (5,980) (3,772)
Net cash flows used in investing activities (5,680) (3,772)
Cash flows from financing activities:    
Payments on revolver and swingline loan (8,000)  
Repurchases of common stock (5,848)  
Proceeds from issuance of common stock upon exercise of stock options, net of expenses 43 1,530
Payment of obligations under finance leases (38) (48)
Net cash flows (used in) provided by financing activities (13,843) 1,482
Decrease in cash and cash equivalents (15,704) (4,595)
Cash and cash equivalents, beginning of period 20,493 30,046
Cash and cash equivalents, end of period 4,789 25,451
Supplemental cash flow information    
Cash paid during the period for interest 1,014 236
Cash paid during the period for income taxes   5
Unpaid purchases of property and equipment 3,872 $ 2,725
Unpaid repurchases of common stock $ 425