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
 9 Months Ended
Sep. 24, 2017
Sep. 25, 2016
Cash flows from operating activities:    
Net income $ 13,074 $ 14,911
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 12,951 11,005
Amortization of loan origination costs 25 25
Closure costs 0 269
Stock-based compensation 2,102 1,624
Excess tax benefit from stock-based compensation 0 (3,158)
Loss on disposal of property and equipment 34 48
Amortization of deferred lease incentives (1,853) (1,548)
Deferred income taxes 2,668 4,458
Changes in operating assets and liabilities:    
Accounts receivable (354) 345
Inventories 137 (22)
Income tax receivable 1,662 (2,402)
Prepaid expenses and other current assets (1,239) (2,190)
Accounts payable (1,607) (1,732)
Accrued liabilities and deferred rent 805 5,427
Deferred lease incentives 5,922 5,632
Net cash provided by operating activities 34,327 32,692
Cash flows from investing activities:    
Purchase of property and equipment (29,977) (31,290)
Purchase of other assets (313) (202)
Net cash used in investing activities (30,290) (31,492)
Cash flows from financing activities:    
Excess tax benefit from stock-based compensation 0 3,158
Proceeds from the exercise of stock options 161 1,379
Indirect repurchase of shares for minimum tax withholdings (491) (322)
Net cash (used in) provided by financing activities (330) 4,215
Net increase in cash and cash equivalents 3,707 5,415
Cash and cash equivalents, beginning of period 13,694 8,529
Cash and cash equivalents, end of period 17,401 13,944
Supplemental disclosure of non-cash investing and financing activities:    
Property and equipment and other assets acquired by accounts payable 2,817 2,357
Supplemental cash flow disclosures:    
Cash paid for interest 24 25
Cash paid for income taxes $ 553 $ 1,384