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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Apr. 03, 2022
Apr. 04, 2021
Cash flows from operating activities:    
Net income $ 37,402 $ 41,366
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 33,231 31,542
Share-based compensation 6,348 5,151
Impairment of long-lived assets 616 635
Deferred income tax 4,527 (1,116)
Non-cash rental expense, net 6,874 10,152
Change in operating lease liabilities (11,615) (11,607)
Net receipt of deferred vendor incentives 7,711 6,522
System optimization gains, net (3,534) (516)
Distributions received from joint ventures, net of equity in earnings 898 1,409
Long-term debt-related activities, net 1,717 1,677
Cloud computing arrangements expenditures (4,656) 0
Changes in operating assets and liabilities and other, net (58,537) 615
Net cash provided by operating activities 20,982 85,830
Cash flows from investing activities:    
Capital expenditures (12,496) (10,364)
Franchise development fund (955) 0
Acquisitions 0 4,879
Dispositions 263 3
Notes receivable, net 141 397
Net cash used in investing activities (13,047) (5,085)
Cash flows from financing activities:    
Proceeds from long-term debt 500,000 0
Repayments of long-term debt (6,063) (11,900)
Repayments of finance lease liabilities (4,076) (2,659)
Deferred financing costs (10,209) 0
Repurchases of common stock 0 (55,611)
Dividends (26,911) (20,156)
Proceeds from stock option exercises 1,591 972
Payments related to tax withholding for share-based compensation (1,530) (2,308)
Net cash provided by (used in) financing activities 452,802 (91,662)
Net cash provided by (used in) operations before effect of exchange rate changes on cash 460,737 (10,917)
Effect of exchange rate changes on cash 305 823
Net increase (decrease) in cash, cash equivalents and restricted cash 461,042 (10,094)
Cash, cash equivalents and restricted cash at beginning of period 366,966 418,241
Cash, cash equivalents and restricted cash at end of period $ 828,008 $ 408,147