XML 28 R8.htm IDEA: XBRL DOCUMENT v3.24.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 27, 2023
Dec. 28, 2022
Dec. 29, 2021
Cash flows from operating activities:      
Net income $ 25,554 $ 20,801 $ 29,121
Adjustments to reconcile net income to net cash flows provided by operating activities:      
Depreciation and amortization 15,235 14,418 15,176
Stock-based compensation expense 2,964 3,491 3,220
Income tax receivable agreement (income) expense 103 (436) 58
Fire insurance proceeds for expenses paid and lost profit 327    
(Gain) loss on disposition of restaurants (5,034) (848) 1,534
Loss on disposal of assets 192 165 289
Gain on recovery of insurance proceeds, property, equipment and expenses, net (247)    
Impairment of property and equipment 1,536 481 711
Amortization of deferred financing costs 201 340 251
Deferred income taxes, net 906 4,600 957
Changes in operating assets and liabilities:      
Accounts and other receivables (216) 3,323 (3,444)
Inventories 531 (125) (218)
Prepaid expenses and other current assets (1,972) 71 133
Income taxes (receivable) payable 838 (1,657) 3,410
Other assets (309) (240) (1,052)
Accounts payable (3,965) 3,977 2,533
Accrued salaries and vacation 459 (2,667) 1,373
Accrued insurance 711 (73) 777
Payment related to tax receivable agreement (350) (430) (1,658)
Other accrued expenses and liabilities 3,224 (6,642) (1,072)
Net cash flows provided by operating activities 40,688 38,549 52,099
Cash flows from investing activities:      
Proceeds from disposition of restaurants 7,722 1,002 4,556
Proceeds from fire insurance for property and equipment 163    
Purchase of property and equipment (21,332) (19,917) (17,041)
Net cash flows used in investing activities (13,447) (18,915) (12,485)
Cash flows from financing activities:      
Proceeds from borrowings on revolver and swingline loans 39,000 46,000  
Payments on revolver and swingline loan (21,000) (20,000) (22,800)
Minimum tax withholdings related to net share settlements (243) (322) (705)
Common stock dividends paid   (55,574)  
Proceeds from issuance of common stock upon exercise of stock options, net of expenses 1,171 1,713 866
Payment of obligations under finance leases (158) (162) (148)
Deferred financing costs for revolver loan   (842)  
Repurchases of common stock (59,216)    
Net cash flows used in by financing activities (40,446) (29,187) (22,787)
(Decrease) increase in cash and cash equivalents (13,205) (9,553) 16,827
Cash and cash equivalents, beginning of period 20,493 30,046 13,219
Cash and cash equivalents, end of period 7,288 20,493 30,046
Supplemental cash flow information      
Cash paid during the period for interest 4,819 1,450 1,066
Cash paid during the period for income taxes 7,721 5,100 5,968
Unpaid purchases of property and equipment $ 5,098 $ 1,333 $ 2,454