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
3 Months Ended
Mar. 28, 2021
Mar. 29, 2020
Cash flows from operating activities:    
Net income (loss) $ 6,654 $ (12,404)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 4,918 5,289
Amortization of operating lease assets 2,454 2,190
Amortization of loan origination costs 17 8
Impairment, closed restaurant and other costs 277 18,277
Stock-based compensation 944 856
Loss on disposal of property and equipment 28 196
Deferred income taxes (1,067) (4,567)
Changes in operating assets and liabilities:    
Accounts receivable 599 469
Lease incentive receivable 0 (150)
Income tax receivable and payable 350 (1,746)
Inventories 180 138
Prepaid expenses and other assets 252 (724)
Accounts payable 872 1,181
Accrued and other liabilities (735) (5,737)
Operating lease liabilities (3,428) (2,681)
Net cash provided by operating activities 12,315 595
Cash flows from investing activities:    
Purchase of property and equipment (1,719) (5,498)
Purchase of other assets 0 (100)
Net cash used in investing activities (1,719) (5,598)
Cash flows from financing activities:    
Borrowings under revolving line of credit 0 25,000
Repurchase of shares of common stock 0 (1,422)
Proceeds from the exercise of stock options 2,335 0
Indirect repurchase of shares for minimum tax withholdings (2,490) (626)
Net cash (used in) provided by financing activities (155) 22,952
Net increase in cash and cash equivalents 10,441 17,949
Cash and cash equivalents, beginning of period 86,817 10,074
Cash and cash equivalents, end of period 97,258 28,023
Supplemental disclosure of non-cash investing and financing activities:    
Property and equipment and other assets acquired by accounts payable 554 762
Supplemental cash flow disclosures:    
Cash paid for interest 8 30
Cash paid for income taxes $ 0 $ 829