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. 31, 2024
Mar. 26, 2023
Cash flows from operating activities:    
Net income $ 6,916 $ 8,222
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 5,440 5,140
Amortization of operating lease assets 2,581 2,485
Amortization of loan origination costs 22 22
Impairment, closed restaurant and other costs 16 19
Stock-based compensation 1,072 975
(Gain) loss on disposal of property and equipment (13) 54
Deferred income taxes 134 208
Changes in operating assets and liabilities:    
Accounts receivable (243) 186
Lease incentive receivable (1,000) 0
Income tax receivable and payable 590 643
Inventories 55 455
Prepaid expenses and other assets (335) (10)
Accounts payable 427 (3,278)
Accrued and other liabilities (4,553) 45
Operating lease liabilities (2,973) (3,037)
Net cash provided by operating activities 8,136 12,129
Cash flows from investing activities:    
Purchase of property and equipment, net (10,830) (6,318)
Net cash used in investing activities (10,830) (6,318)
Cash flows from financing activities:    
Repurchase of shares of common stock (7,320) 0
Proceeds from the exercise of stock options 0 273
Indirect repurchase of shares for minimum tax withholdings (1,393) (1,514)
Net cash used in financing activities (8,713) (1,241)
Net (decrease) increase in cash and cash equivalents (11,407) 4,570
Cash and cash equivalents, beginning of period 67,774 78,028
Cash and cash equivalents, end of period 56,367 82,598
Supplemental disclosure of non-cash investing and financing activities:    
Property and equipment and other assets acquired by accounts payable 492 2,262
Supplemental cash flow disclosures:    
Cash paid for interest 20 11
Cash paid for income taxes $ 92 $ 73