Quarterly report pursuant to Section 13 or 15(d)

Unaudited Condensed Consolidated Statements of Cash Flows

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Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 27, 2021
Jun. 28, 2020
Cash flows from operating activities:    
Net income (loss) $ 18,184 $ (7,902)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation 10,004 10,184
Amortization of operating lease assets 4,851 4,494
Amortization of loan origination costs 34 18
Impairment, closed restaurant and other costs (1,575) 18,277
Stock-based compensation 1,947 1,823
Loss on disposal of property and equipment 0 409
Deferred income taxes (127) (5,854)
Changes in operating assets and liabilities:    
Accounts receivable 261 203
Lease incentive receivable 200 (150)
Income tax receivable and payable 974 (1,055)
Inventories 18 119
Prepaid expenses and other assets (1,585) (2,067)
Accounts payable 1,199 1,217
Accrued and other liabilities 4,619 (123)
Operating lease liabilities (6,922) (202)
Net cash provided by operating activities 32,082 19,391
Cash flows from investing activities:    
Purchase of property and equipment (6,582) (7,986)
Purchase of other assets 0 (366)
Net cash used in investing activities (6,582) (8,352)
Cash flows from financing activities:    
Net proceeds from sale of common stock 0 48,167
Borrowings under revolving line of credit 0 25,000
Payments under revolving line of credit 0 (25,000)
Loan origination costs (24) 0
Repurchase of shares of common stock 0 (1,422)
Proceeds from the exercise of stock options 3,761 34
Indirect repurchase of shares for minimum tax withholdings (2,507) (655)
Net cash provided by financing activities 1,230 46,124
Net increase in cash and cash equivalents 26,730 57,163
Cash and cash equivalents, beginning of period 86,817 10,074
Cash and cash equivalents, end of period 113,547 67,237
Supplemental disclosure of non-cash investing and financing activities:    
Property and equipment and other assets acquired by accounts payable 134 152
Supplemental cash flow disclosures:    
Cash paid for interest 16 147
Cash paid for income taxes $ 704 $ 824