XML 44 R8.htm IDEA: XBRL DOCUMENT v3.24.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 30, 2023
Dec. 31, 2022
Jan. 01, 2022
Cash flows from operating activities:      
Net income $ 53,115 $ 84,720 $ 83,394
Adjustments to reconcile net income to net cash provided by operating activities:      
Stock-based compensation expense 72,604 1,943 732
Amortization of debt issuance costs and debt discount 6,051 4,005 4,444
Depreciation and amortization 61,144 55,753 47,385
Operating lease expense 119,908 114,788 0
Deferred income taxes, net (35,249) 20,261 (21,870)
Loss on extinguishment of debt 16,626 1,023 47,541
Noncash interest expense 0 0 3,417
Other items (15,055) 22,795 1,351
Changes in operating assets and liabilities:      
Trade receivables 740 (8,053) 3,878
Inventories (10,926) 2,246 6,091
Prepaid expenses and other current assets 3,659 (16,928) (17,998)
Accounts payable and accrued liabilities 8,154 6,887 2,732
Accrued payroll and related taxes 2,428 (12,632) 17,984
Operating lease liabilities (110,438) (104,685) 0
Other liabilities 2,404 (2,690) (3,319)
Net cash provided by operating activities 175,165 169,433 175,762
Cash flows from investing activities:      
Purchases of property and equipment (91,743) (110,173) (40,544)
Purchase of trade name (650) 0 0
Settlement of derivative instruments, net 28 (329) (2,321)
Acquisition of 2nd Ave, net of cash acquired 0 0 (220,307)
Net cash used in investing activities (92,365) (110,502) (263,172)
Cash flows from financing activities:      
Proceeds from issuance of long-term debt, net 529,247 0 817,149
Payment of debt issuance costs (4,359) (626) (20,676)
Advances on revolving line of credit 42,000 102,000 0
Repayments of revolving line of credit (84,000) (60,000) 0
Dividends paid (262,235) (69,433) (75,000)
Proceeds from initial public offering, net 314,719 0 0
Payment of offering costs (9,061) 0 0
Repurchase of shares and shares withheld to cover taxes (849) (292) 0
Settlement of derivative instrument, net 8,601 147 0
Principal payments on finance lease liabilities (1,526) 0 0
Net cash (used in) provided by financing activities (17,044) (40,218) 52,999
Effect of exchange rate changes on cash and cash equivalents 2,067 (4,496) (5,533)
Net change in cash and cash equivalents 67,823 14,217 (39,944)
Cash and cash equivalents at beginning of period 112,132 97,915 137,859
Cash and cash equivalents at end of period 179,955 112,132 97,915
Supplemental disclosures of cash flow information:      
Interest paid on debt 79,133 62,157 45,250
Income taxes paid, net 22,480 31,168 29,654
Supplemental disclosure of noncash investing activities:      
Noncash capital expenditures 5,276 6,414 2,891
Nonrelated Party      
Cash flows from financing activities:      
Principal payments on long-term debt (547,931) (10,991) (422,755)
Prepayment premium on extinguishment of debt (1,650) (1,023) (14,687)
Related Party      
Cash flows from financing activities:      
Principal payments on long-term debt 0 0 (222,910)
Prepayment premium on extinguishment of debt $ 0 $ 0 $ (8,122)