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Condensed Consolidated Statement of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 26, 2022
Jun. 27, 2021
Cash flows from operating activities:    
Net loss $ (31,943) $ (8,363)
Adjustments to reconcile net loss to net cash used in operations:    
Deferred income taxes 3,256 (3,003)
Net loss on extinguishment of debt 0 4,859
Depreciation and amortization 10,645 784
Share-based compensation 4,076 230
Change in operating right-of-use assets 3,241 1,065
Accretion of loan fees and interest 5,787 696
Accretion of preferred shares 0 47
Accretion of purchase price liability 48 20
Gain on sale of refranchised assets 0 (1,119)
Provision for bad debts 423 23
Change in:    
Accounts receivable (16,530) (1,395)
Other current assets (825) (783)
Deferred income 1,959 388
Accounts payable (3,924) (395)
Accrued expense (1,231) 2,014
Accrued advertising 2,985 (180)
Accrued interest payable 483 (374)
Dividend payable on preferred shares (9) 533
Other (6,404) 21
Total adjustments 3,980 3,431
Net cash used in operating activities (27,963) (4,932)
Cash flows from investing activities:    
Acquisitions, net of cash acquired (2,772) 0
Payments received on loans receivable 1,647 0
Net proceeds from sale of refranchised restaurants 0 1,442
Purchases of property and equipment (7,987) (1,258)
Other (192) 37
Net cash (used in) provided by investing activities (9,304) 221
Cash flows from financing activities:    
Proceeds from borrowings, net of issuance costs 704 140,789
Repayments of borrowings (510) (92,613)
Issuance of preferred shares, net 0 8,281
Change in operating lease liabilities (2,864) (798)
Payments made on acquisition purchase price liability 0 (1,075)
Exercise of warrants 79 1,382
Dividends paid on redeemable preferred stock (1,062) 0
Dividends paid on common shares (4,263) (3,197)
Dividends paid on preferred shares (3,314) (1,249)
Net cash (used in) provided by financing activities (11,230) 51,520
Net (decrease) increase in cash and restricted cash (48,497) 46,809
Cash and restricted cash at beginning of the period 99,921 7,211
Cash and restricted cash at end of the period 51,424 54,020
Supplemental disclosures of cash flow information:    
Cash paid for interest 32,430 4,619
Cash paid for income taxes $ 447 $ 400