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
 3 Months Ended
Mar. 27, 2022
Mar. 28, 2021
Cash flows from operating activities:    
Net income $ 5,518 $ 6,654
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 4,982 4,918
Amortization of operating lease assets 2,360 2,454
Amortization of loan origination costs 22 17
Impairment, closed restaurant and other costs 72 277
Stock-based compensation 1,016 944
Loss on disposal of property and equipment 13 28
Deferred income taxes 362 (1,067)
Changes in operating assets and liabilities:    
Accounts receivable (19) 599
Lease incentive receivable (1,000) 0
Income tax receivable and payable 108 350
Inventories 62 180
Prepaid expenses and other assets (4) 252
Accounts payable 414 872
Accrued and other liabilities (4,028) (735)
Operating lease liabilities (3,027) (3,428)
Net cash provided by operating activities 6,851 12,315
Cash flows from investing activities:    
Purchase of property and equipment, net (2,613) (1,719)
Net cash used in investing activities (2,613) (1,719)
Cash flows from financing activities:    
Repurchase of shares of common stock (19,720) 0
Proceeds from the exercise of stock options 0 2,335
Indirect repurchase of shares for minimum tax withholdings (1,426) (2,490)
Net cash used in financing activities (21,146) (155)
Net (decrease) increase in cash and cash equivalents (16,908) 10,441
Cash and cash equivalents, beginning of period 106,621 86,817
Cash and cash equivalents, end of period 89,713 97,258
Supplemental disclosure of non-cash investing and financing activities:    
Property and equipment and other assets acquired by accounts payable 786 554
Supplemental cash flow disclosures:    
Cash paid for interest 19 8
Cash paid for income taxes $ 67 $ 0