Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.20.4
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 27, 2020
Dec. 29, 2019
Dec. 30, 2018
Cash flows from operating activities:      
Net (loss) income $ (3,294) $ 6,215 $ 5,539
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 20,031 20,739 19,804
Amortization of operating lease assets 9,233 7,965 0
Amortization of loan origination costs 53 33 33
Loss on asset impairment, closed restaurant and other costs 22,138 12,693 12,336
Stock-based compensation 3,702 3,286 3,096
Loss on disposal of property and equipment 437 283 97
Amortization of deferred lease incentives 0 0 (2,869)
Deferred income taxes (5,205) (5,096) (3,837)
Changes in operating assets and liabilities:      
Accounts receivable (81) 628 642
Lease incentive receivable 50 1,347 4,754
Inventories 208 (116) 64
Income tax receivable and payable (1,506) 1,135 622
Prepaid expenses and other assets (397) 995 2,188
Accounts payable (1,302) (2,594) (1,454)
Accrued and other liabilities 5,173 4,279 733
Accrued deferred rent 0 0 2,752
Operating Lease, Payments (6,526) (8,361) 0
Deferred lease incentives 0 0 3,382
Net cash provided by operating activities 42,714 43,431 47,882
Cash flows from investing activities:      
Purchase of property and equipment, net (12,149) (32,870) (44,087)
Purchase of other assets 0 (404) (434)
Net cash used in investing activities (12,149) (33,274) (44,521)
Cash flows from financing activities:      
Net Proceeds from Sale of Common Stock 48,167 0 0
Borrowings under revolving line of credit 25,000 5,000 0
Payments under revolving line of credit (25,000) (5,000) 0
Loan origination costs (116) 0 0
Proceeds from the exercise of stock options 234 388 453
Payments for Repurchase of Common Stock (1,422) (7,793) (3,607)
Indirect repurchase of shares for minimum tax withholdings (685) (877) (793)
Net cash provided by (used in) financing activities 46,178 (8,282) (3,947)
Net increase (decrease) in cash and cash equivalents 76,743 1,875 (586)
Cash and cash equivalents, beginning of period 10,074 8,199 8,785
Cash and cash equivalents, end of period 86,817 10,074 8,199
Supplemental disclosure of non-cash investing and financing activities:      
Property and equipment and other assets acquired by accounts payable 26 384 1,521
Supplemental cash flow disclosures:      
Cash paid for interest 202 77 35
Cash paid for income taxes $ 1,232 $ 1,059 $ 862