Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 26, 2021
Dec. 27, 2020
Dec. 29, 2019
Cash flows from operating activities:      
Net income (loss) $ 30,176 $ (3,294) $ 6,215
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation 20,197 20,031 20,739
Amortization of operating lease assets 9,574 9,233 7,965
Amortization of loan origination costs 126 53 33
Loss on asset impairment, closed restaurant and other costs 4,114 22,138 12,693
Stock-based compensation 3,867 3,702 3,286
Loss on disposal of property and equipment 31 437 283
Deferred income taxes 2,406 (5,205) (5,096)
Changes in operating assets and liabilities:      
Accounts receivable (304) (81) 628
Lease incentives receivable 200 50 1,347
Inventories (227) 208 (116)
Income tax receivable (109) (1,506) 1,135
Prepaid expenses and other assets (112) (397) 995
Accounts payable 711 (1,302) (2,594)
Accrued and other liabilities 836 5,173 4,279
Operating lease liabilities (21,706) (6,526) (8,361)
Net cash provided by operating activities 49,780 42,714 43,431
Cash flows from investing activities:      
Purchase of property and equipment, net (16,413) (12,149) (32,870)
Purchase of other assets 0 0 (404)
Net cash used in investing activities (16,413) (12,149) (33,274)
Cash flows from financing activities:      
Net proceeds from sale of common stock 0 48,167 0
Borrowings under revolving line of credit 0 25,000 5,000
Payments under revolving line of credit 0 (25,000) (5,000)
Loan origination costs (260) (116) 0
Proceeds from exercise of stock options 3,761 234 388
Repurchase of shares of common stock (14,518) (1,422) (7,793)
Indirect repurchase of shares for minimum tax withholdings (2,546) (685) (877)
Net cash (used in) provided by financing activities (13,563) 46,178 (8,282)
Net increase in cash and cash equivalents 19,804 76,743 1,875
Cash and cash equivalents, beginning of period 86,817 10,074 8,199
Cash and cash equivalents, end of period 106,621 86,817 10,074
Supplemental disclosure of non-cash investing and financing activities:      
Property and equipment and other assets acquired by accounts payable 439 26 384
Supplemental cash flow disclosures:      
Cash paid for interest 26 202 77
Cash paid for income taxes $ 1,793 $ 1,232 $ 1,059