Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.24.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 25, 2022
Dec. 26, 2021
Cash flows from operating activities:      
Net income $ 31,510 $ 20,855 $ 30,176
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 21,140 20,176 20,197
Amortization of operating lease assets 10,051 9,586 9,574
Amortization of loan origination costs 88 87 126
Loss on asset impairment, closed restaurant and other costs 3,044 3,848 4,114
Stock-based compensation 4,060 3,801 3,867
Loss on disposal of property and equipment 346 138 31
Deferred income taxes 1,543 442 2,406
Changes in operating assets and liabilities:      
Accounts receivable 79 (193) (304)
Lease incentives receivable (459) (900) 200
Inventories 264 (393) (227)
Income tax receivable and payable (176) 1,562 (109)
Prepaid expenses and other assets (3,675) (522) (112)
Accounts payable (3,932) 450 711
Accrued and other liabilities 8,186 (1,152) 836
Operating lease liabilities (12,993) (14,979) (21,706)
Net cash provided by operating activities 59,076 42,806 49,780
Cash flows from investing activities:      
Purchase of property and equipment, net (38,603) (28,300) (16,413)
Net cash used in investing activities (38,603) (28,300) (16,413)
Cash flows from financing activities:      
Loan origination costs (197) 0 (260)
Proceeds from exercise of stock options 291 24 3,761
Repurchase of shares of common stock (29,242) (41,656) (14,518)
Indirect repurchase of shares for minimum tax withholdings (1,579) (1,467) (2,546)
Net cash used in financing activities (30,727) (43,099) (13,563)
Net (decrease) increase in cash and cash equivalents (10,254) (28,593) 19,804
Cash and cash equivalents, beginning of period 78,028 106,621 86,817
Cash and cash equivalents, end of period 67,774 78,028 106,621
Supplemental disclosure of non-cash investing and financing activities:      
Property and equipment and other assets acquired by accounts payable 1,434 3,482 439
Supplemental cash flow disclosures:      
Cash paid for interest 45 52 26
Cash paid for income taxes $ 4,058 $ 352 $ 1,793