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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 28, 2025
Jun. 29, 2024
Operating activities    
Net income $ 119,028 $ 56,232
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 12,448 8,571
Deferred income taxes 12,690 905
Stock-based compensation expense 11,529 8,738
Loss on disposal of assets 6,535 0
Gain on sale of investment (92,485) 0
Amortization of debt issuance costs 1,548 1,037
Changes in operating assets and liabilities:    
Accounts receivable (8,729) (3,341)
Prepaid expenses and other assets (17,148) (3,040)
Advertising fund assets and liabilities, net (17,519) 3,892
Accounts payable and other current liabilities (716) 3,157
Deferred revenue 4,034 3,274
Other non-current liabilities 661 1,412
Cash provided by operating activities 31,876 80,837
Investing activities    
Purchases of property and equipment (22,381) (21,459)
Acquisition of restaurants from franchisee (9,221) (3,292)
Proceeds from sales of assets 17,330 0
Payments for investments (76,513) (500)
Proceeds from sale of investments 107,700 0
Cash (used in) provided by investing activities 16,915 (25,251)
Financing activities    
Proceeds from exercise of stock options 855 1,254
Purchases of common stock (120,772) (29,220)
Tax payments for restricted stock upon vesting (13,599) (4,118)
Dividends paid (15,636) (13,077)
Cash used in financing activities (149,152) (45,161)
Net change in cash, cash equivalents, and restricted cash (100,361) 10,425
Cash, cash equivalents, and restricted cash at beginning of period 359,574 119,676
Cash, cash equivalents, and restricted cash at end of period 259,213 130,101
Supplemental information:    
Accrued capital expenditures $ 655 $ 3,946