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
 6 Months Ended
Jun. 25, 2017
Jun. 26, 2016
Cash flows from operating activities:    
Net income $ 9,879 $ 10,312
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 8,468 7,184
Amortization of loan origination costs 16 16
Stock-based compensation 1,354 1,058
Excess tax benefit from stock-based compensation 0 (2,540)
Loss on disposal of property and equipment 14 37
Amortization of deferred lease incentives (1,192) (1,001)
Deferred income taxes 2,286 104
Changes in operating assets and liabilities:    
Accounts receivable 129 274
Inventories 173 (23)
Income tax receivable 1,216 658
Prepaid expenses and other current assets (106) (2,234)
Accounts payable (1,844) (973)
Accrued liabilities and deferred rent 1,043 6,716
Deferred lease incentives 3,642 2,519
Net cash provided by operating activities 25,078 22,107
Cash flows from investing activities:    
Purchase of property and equipment (18,469) (20,029)
Purchase of other assets (200) (144)
Net cash used in investing activities (18,669) (20,173)
Cash flows from financing activities:    
Borrowings under revolving line of credit 0 2,000
Payments under revolving line of credit 0 (2,000)
Excess tax benefit from stock-based compensation 0 2,540
Proceeds from the exercise of stock options 125 1,077
Indirect repurchase of shares for minimum tax withholdings (482) (311)
Net cash (used in) provided by financing activities (357) 3,306
Net increase in cash and cash equivalents 6,052 5,240
Cash and cash equivalents, beginning of period 13,694 8,529
Cash and cash equivalents, end of period 19,746 13,769
Supplemental disclosure of non-cash investing and financing activities:    
Property and equipment and other assets acquired by accounts payable 2,416 3,048
Supplemental cash flow disclosures:    
Cash paid for interest 16 17
Cash paid for income taxes $ 406 $ 1,174