Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2017
Dec. 25, 2016
Dec. 27, 2015
Cash flows from operating activities:      
Net income $ 28,956 $ 17,244 $ 12,896
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 17,560 15,081 12,827
Amortization of loan origination costs 34 33 43
Impairment and closure costs 0 1,367 4,360
Stock-based compensation 2,880 2,193 1,718
Excess tax benefit from stock-based compensation 0 (3,265) (34)
Gain on insurance related to property and equipment (61) 0 0
Loss on disposal of property and equipment 107 43 108
Amortization of deferred lease incentives (2,517) (2,125) (1,684)
Deferred income taxes (7,331) 3,488 3,074
Changes in operating assets and liabilities:      
Accounts receivable (1,564) (14) (196)
Inventories (154) (265) (268)
Income tax receivable 958 (1,196) (1,362)
Prepaid expenses and other current assets (717) (2,574) 448
Accounts payable (2,248) (1,471) (1,708)
Accrued liabilities and deferred rent 1,326 5,975 7,529
Deferred lease incentives 7,153 8,124 7,642
Net cash provided by operating activities 44,382 42,638 45,393
Cash flows from investing activities:      
Purchase of property and equipment, net (49,185) (41,566) (31,628)
Insurance proceeds from property claims 501 0 0
Purchase of other assets (450) (319) (372)
Net cash used in investing activities (49,134) (41,885) (32,000)
Cash flows from financing activities:      
Borrowings under revolving line of credit 0 2,000 1,000
Payments under revolving line of credit 0 (2,000) (9,750)
Loan origination costs 0 0 (70)
Excess tax benefit from stock-based compensation 0 3,265 34
Proceeds from the exercise of stock options 340 1,471 164
Indirect repurchase of shares for minimum tax withholdings (497) (324) (57)
Net cash (used in) provided by financing activities (157) 4,412 (8,679)
Net (decrease) increase in cash and cash equivalents (4,909) 5,165 4,714
Cash and cash equivalents, beginning of period 13,694 8,529 3,815
Cash and cash equivalents, end of period 8,785 13,694 8,529
Supplemental disclosure of non-cash investing and financing activities:      
Property and equipment and other assets acquired by accounts payable 630 2,191 3,081
Supplemental cash flow disclosures:      
Cash paid for interest 39 33 95
Cash paid for income taxes $ 908 $ 1,385 $ 4,091