Quarterly report pursuant to Section 13 or 15(d)

Unaudited Condensed Consolidated Statements of Cash Flows

v3.5.0.2
Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 25, 2016
Sep. 27, 2015
Cash flows from operating activities:    
Net income $ 14,911 $ 12,677
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 11,005 9,422
Amortization of loan origination costs 25 34
Closure costs 269 0
Stock-based compensation 1,624 1,255
Excess tax benefit from stock-based compensation (3,158) (109)
Loss on disposal of property and equipment 48 90
Amortization of deferred lease incentives (1,548) (1,233)
Deferred income taxes 4,458 3,972
Changes in operating assets and liabilities:    
Accounts receivable 345 264
Inventories (22) (86)
Income tax receivable (2,402) (603)
Prepaid expenses and other current assets (2,190) (812)
Accounts payable (1,732) (2,427)
Accrued liabilities and deferred rent 5,427 5,118
Deferred lease incentives 5,632 6,223
Net cash provided by operating activities 32,692 33,785
Cash flows from investing activities:    
Purchase of property and equipment (31,290) (18,097)
Purchase of other assets (202) (315)
Net cash used in investing activities (31,492) (18,412)
Cash flows from financing activities:    
Borrowings under revolving line of credit 0 1,000
Payments under revolving line of credit 0 (9,750)
Excess tax benefit from stock-based compensation 3,158 109
Proceeds from the exercise of stock options 1,379 105
Indirect repurchase of shares for minimum tax withholdings (322) (54)
Net cash provided by (used in) financing activities 4,215 (8,590)
Net increase in cash and cash equivalents 5,415 6,783
Cash and cash equivalents, beginning of period 8,529 3,815
Cash and cash equivalents, end of period 13,944 10,598
Supplemental disclosure of non-cash investing and financing activities:    
Property and equipment and other assets acquired by accounts payable 2,357 2,627
Supplemental cash flow disclosures:    
Cash paid for interest 25 87
Cash paid for income taxes $ 1,384 $ 2,323