Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.7.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 25, 2016
Dec. 27, 2015
Dec. 28, 2014
Cash flows from operating activities:      
Net income $ 17,244 $ 12,896 $ 11,491
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 15,081 12,827 10,310
Amortization of loan origination costs 33 43 45
Impairment and closure costs 1,367 4,360 0
Stock-based compensation 2,193 1,718 1,054
Excess tax benefit from stock-based compensation (3,265) (34) (609)
Loss on disposal of property and equipment 43 108 30
Amortization of deferred lease incentives (2,125) (1,684) (1,303)
Deferred income taxes 3,488 3,074 3,060
Changes in operating assets and liabilities:      
Accounts receivable (14) (196) (286)
Inventories (265) (268) (221)
Income tax receivable (1,196) (1,362) 0
Prepaid expenses and other current assets (2,574) 448 (586)
Accounts payable (1,471) (1,708) (770)
Accrued liabilities and deferred rent 5,975 7,529 2,853
Deferred lease incentives 8,124 7,642 4,067
Net cash provided by operating activities 42,638 45,393 29,135
Cash flows from investing activities:      
Purchase of property and equipment (41,566) (31,628) (33,936)
Purchase of other assets (319) (372) (388)
Net cash used in investing activities (41,885) (32,000) (34,324)
Cash flows from financing activities:      
Borrowings under revolving line of credit 2,000 1,000 4,250
Payments under revolving line of credit (2,000) (9,750) (1,500)
Loan origination costs 0 (70) 0
Excess tax benefit from stock-based compensation 3,265 34 609
Proceeds from the exercise of stock options 1,471 164 322
Indirect repurchase of shares for minimum tax withholdings (324) (57) 0
Net cash provided by (used in) financing activities 4,412 (8,679) 3,681
Net increase (decrease) in cash and cash equivalents 5,165 4,714 (1,508)
Cash and cash equivalents, beginning of period 8,529 3,815 5,323
Cash and cash equivalents, end of period 13,694 8,529 3,815
Supplemental disclosure of non-cash investing and financing activities:      
Property and equipment and other assets acquired by accounts payable 2,191 3,081 2,071
Supplemental cash flow disclosures:      
Cash paid for interest 33 95 175
Cash paid for income taxes $ 1,385 $ 4,091 $ 632