v3.25.3
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 28, 2025
Sep. 29, 2024
Operating activities    
Net income $ 23,487 $ 69,238
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for allowance for credit losses on accounts and notes receivable 5,669 2,936
Depreciation and amortization 62,076 52,528
Deferred income taxes 1,731 3,877
Stock-based compensation expense 12,132 5,903
Refranchising and impairment loss 8,127 17,433
Loss (gain) on disposal of property and equipment 2,771 (42,034)
Other 1,082 573
Changes in operating assets and liabilities, net of acquisitions:    
Accounts receivable (9,439) (359)
Income tax receivable (1,412) 232
Inventories (1,544) (207)
Prepaid expenses and other current assets 1,426 (1,278)
Other assets and liabilities (972) (5,923)
Accounts payable 8,134 (11,896)
Income and other taxes payable (2,399) (7,609)
Accrued expenses and other current liabilities (2,087) (9,551)
Deferred revenue (4,739) (2,073)
Advertising fund assets and liabilities 2,149 (15,906)
Net cash provided by operating activities 106,192 55,884
Investing activities    
Purchases of property and equipment (47,002) (46,931)
Purchases of property and equipment related to damages from natural disasters (5,121) 0
Insurance proceeds related to damages from natural disasters 3,300 0
Notes issued 0 (154)
Repayments of notes issued 5,703 3,148
Proceeds from dispositions and refranchising, net of cash transferred 831 49,012
Proceeds from investments 4,739 2,275
Other (68) 98
Net cash (used in) provided by investing activities (37,618) 7,448
Financing activities    
Net repayments of revolving credit facilities (210,042) (31,589)
Proceeds from term loan 200,000 0
Debt issuance costs (3,223) 0
Proceeds from exercise of stock options 397 1,021
Dividends paid to common stockholders (45,817) (45,381)
Tax payments for equity award issuances (1,791) (3,508)
Distributions to noncontrolling interests (387) (627)
Principal payments on finance leases (7,455) (6,778)
Other 110 278
Net cash used in financing activities (68,208) (86,584)
Effect of exchange rate changes on cash and cash equivalents 651 215
Change in cash and cash equivalents 1,017 (23,037)
Cash and cash equivalents at beginning of period 37,955 40,587
Cash and cash equivalents at end of period $ 38,972 $ 17,550

Source

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