XML 18 R7.htm IDEA: XBRL DOCUMENT v3.22.1
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Mar. 26, 2022
Mar. 27, 2021
Dec. 25, 2021
Statement of Cash Flows [Abstract]      
Net income (loss) $ 34,428 $ (19,932)  
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation and amortization 33,023 23,852  
Non-cash lease cost 17,002 20,028  
Loss on foreign denominated transactions 970 13,000  
Gain on foreign currency derivative 0 (2,489)  
Bad debt expense 372 657  
Asset impairment costs 898 1,253  
Amortization of deferred financing costs and bond discounts 2,224 2,139  
Benefit (provision) for deferred income taxes 132 (8,018)  
Loss on extinguishment of debt 0 45,498  
Other, net 1,597 (749)  
Changes in assets and liabilities, net of acquisitions:      
Accounts and notes receivable, net (21,123) (19,693)  
Inventory (1,787) 135  
Prepaid and other assets 397 (8,184)  
Advertising fund assets and liabilities, restricted (1,204) 2,621  
Deferred commissions (39) (573)  
Deferred revenue 455 1,551  
Accounts payable 509 638  
Accrued expenses and other liabilities (61,624) (6,451)  
Income tax receivable 11,476 3,061  
Operating lease liabilities (8,666) (15,758)  
Cash provided by operating activities 9,040 32,586  
Cash flows from investing activities:      
Capital expenditures (68,967) (23,280)  
Cash used in business acquisitions, net of cash acquired (224,526) (26,732)  
Proceeds from sale-leaseback transactions 37,781 41,023  
Proceeds from sale of company-operated stores 0 4,481  
Proceeds from disposition of car wash operations 1,577 0  
Proceeds from disposal of property and equipment 803 0  
Cash used in investing activities (253,332) (4,508)  
Cash flows from financing activities:      
Repayment of long-term debt (4,820) (707,384)  
Proceeds from revolving lines of credit and short-term debt 0 114,800  
Repayments of revolving lines of credit and short-term debt 0 (132,800)  
Repayment of principal portion of finance lease liability (879) (409)  
Proceeds from initial public offering, net of underwriting discounts 0 661,500  
Net proceeds from underwriters' exercise of over-allotment option 0 99,225  
Repurchases of common stock 0 (42,977)  
Payment for termination of interest rate swaps 0 (21,826)  
Other, net (20) 0  
Cash provided by financing activities (5,719) (29,871)  
Effect of exchange rate changes on cash (592) 650  
Net change in cash, cash equivalents, restricted cash, and cash included in advertising fund assets, restricted (250,603) (1,143)  
Cash and cash equivalents, beginning of period 523,414 172,611 $ 172,611
Cash included in advertising fund assets, restricted, beginning of period 38,586 19,369 19,369
Restricted cash, beginning of period 792 15,827 15,827
Cash, cash equivalents, restricted cash, and cash included in advertising fund assets, restricted, beginning of period 562,792 207,807 207,807
Cash and cash equivalents, end of period 270,681 175,371 523,414
Cash included in advertising fund assets, restricted, end of period 40,716 21,160 38,586
Restricted cash, end of period 792 10,133 792
Cash, cash equivalents, restricted cash, and cash included in advertising fund assets, restricted, end of period 312,189 206,664 $ 562,792
Supplemental cash flow disclosures - non-cash items:      
Accrued capital expenditures, end of period 2,940 3,804  
Supplemental cash flow disclosures - cash paid for:      
Interest 24,238 16,424  
Income taxes $ 321 $ 1,373