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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Oct. 01, 2023
Oct. 02, 2022
Cash flows from operating activities:    
Net income $ 157,502 $ 136,095
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization (exclusive of amortization of cloud computing arrangements shown separately below) 101,258 100,911
Amortization of cloud computing arrangements 7,692 888
Share-based compensation 16,769 17,497
Impairment of long-lived assets 513 2,682
Deferred income tax (502) 10,214
Non-cash rental expense, net 30,724 26,164
Change in operating lease liabilities (35,319) (34,241)
Net receipt of deferred vendor incentives 4,007 1,884
System optimization gains, net (119) (4,138)
Distributions received from joint ventures, net of equity in earnings 1,349 3,468
Long-term debt-related activities, net 7,310 5,746
Cloud computing arrangements expenditures (25,154) (22,685)
Changes in operating assets and liabilities and other, net 3,495 (61,846)
Net cash provided by operating activities 269,525 182,639
Cash flows from investing activities:    
Capital expenditures (55,689) (50,036)
Franchise development fund (1,947) (2,484)
Dispositions 280 3,731
Notes receivable, net 1,825 2,713
Net cash used in investing activities (55,531) (46,076)
Cash flows from financing activities:    
Proceeds from long-term debt 0 500,000
Repayments of long-term debt (61,280) (19,437)
Repayments of finance lease liabilities (16,947) (13,411)
Deferred financing costs 0 (10,232)
Repurchases of common stock (142,413) (51,950)
Dividends (157,871) (80,153)
Proceeds from stock option exercises 9,113 2,668
Payments related to tax withholding for share-based compensation (3,827) (2,980)
Net cash (used in) provided by financing activities (373,225) 324,505
Net cash (used in) provided by operations before effect of exchange rate changes on cash (159,231) 461,068
Effect of exchange rate changes on cash 307 (7,176)
Net (decrease) increase in cash, cash equivalents and restricted cash (158,924) 453,892
Cash, cash equivalents and restricted cash at beginning of period 831,801 366,966
Cash, cash equivalents and restricted cash at end of period $ 672,877 $ 820,858