Quarterly report pursuant to Section 13 or 15(d)

Unaudited Condensed Consolidated Statements of Cash Flows

v3.23.2
Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 25, 2023
Jun. 26, 2022
Cash flows from operating activities:    
Net income $ 18,956 $ 13,389
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 10,362 9,963
Amortization of operating lease assets 5,011 4,747
Amortization of loan origination costs 43 44
Impairment, closed restaurant and other costs 84 456
Stock-based compensation 1,968 1,950
Loss on disposal of property and equipment 116 57
Deferred income taxes 588 869
Changes in operating assets and liabilities:    
Accounts receivable (292) (12)
Lease incentive receivable 0 (1,000)
Income tax receivable and payable (377) 103
Inventories 402 (83)
Prepaid expenses and other assets (2,313) (1,713)
Accounts payable (3,850) 258
Accrued and other liabilities 4,863 100
Operating lease liabilities (6,142) (6,861)
Net cash provided by operating activities 29,419 22,267
Cash flows from investing activities:    
Purchase of property and equipment, net (20,615) (10,142)
Net cash used in investing activities (20,615) (10,142)
Cash flows from financing activities:    
Repurchase of shares of common stock (2,961) (21,052)
Proceeds from the exercise of stock options 276 0
Indirect repurchase of shares for minimum tax withholdings (1,523) (1,436)
Net cash used in financing activities (4,208) (22,488)
Net increase (decrease) in cash and cash equivalents 4,596 (10,363)
Cash and cash equivalents, beginning of period 78,028 106,621
Cash and cash equivalents, end of period 82,624 96,258
Supplemental disclosure of non-cash investing and financing activities:    
Property and equipment and other assets acquired by accounts payable 1,010 1,350
Supplemental cash flow disclosures:    
Cash paid for interest 22 30
Cash paid for income taxes $ 2,538 $ 361