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. 26, 2023
Mar. 27, 2022
Cash flows from operating activities:    
Net income $ 8,222 $ 5,518
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 5,140 4,982
Amortization of operating lease assets 2,485 2,360
Amortization of loan origination costs 22 22
Impairment, closed restaurant and other costs 19 72
Stock-based compensation 975 1,016
Loss on disposal of property and equipment 54 13
Deferred income taxes 208 362
Changes in operating assets and liabilities:    
Accounts receivable 186 (19)
Lease incentive receivable 0 (1,000)
Income tax receivable and payable 643 108
Inventories 455 62
Prepaid expenses and other assets (10) (4)
Accounts payable (3,278) 414
Accrued and other liabilities 45 (4,028)
Operating lease liabilities (3,037) (3,027)
Net cash provided by operating activities 12,129 6,851
Cash flows from investing activities:    
Purchase of property and equipment, net (6,318) (2,613)
Net cash used in investing activities (6,318) (2,613)
Cash flows from financing activities:    
Repurchase of shares of common stock 0 (19,720)
Proceeds from the exercise of stock options 273 0
Indirect repurchase of shares for minimum tax withholdings (1,514) (1,426)
Net cash used in financing activities (1,241) (21,146)
Net increase (decrease) in cash and cash equivalents 4,570 (16,908)
Cash and cash equivalents, beginning of period 78,028 106,621
Cash and cash equivalents, end of period 82,598 89,713
Supplemental disclosure of non-cash investing and financing activities:    
Property and equipment and other assets acquired by accounts payable 2,262 786
Supplemental cash flow disclosures:    
Cash paid for interest 11 19
Cash paid for income taxes $ 73 $ 67