v3.25.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 29, 2025
Jun. 30, 2024
Operating activities    
Net income $ 19,014 $ 27,450
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for allowance for credit losses on accounts and notes receivable 3,284 2,397
Depreciation and amortization 37,162 35,268
Deferred income taxes 1,600 2,812
Stock-based compensation expense 7,493 2,545
Refranchising and impairment loss 8,087 14,713
Loss on disposal of property and equipment 2,576 965
Other 237 774
Changes in operating assets and liabilities, net of acquisitions:    
Accounts receivable (5,312) 8,488
Income tax receivable (308) (203)
Inventories (1,980) (1,748)
Prepaid expenses and other current assets (3,693) (3,541)
Other assets and liabilities (3,160) (5,788)
Accounts payable 12,609 (8,756)
Income and other taxes payable (6,132) (10,957)
Accrued expenses and other current liabilities (9,315) (12,321)
Deferred revenue (3,812) (1,839)
Advertising fund assets and liabilities 8,493 (8,302)
Net cash provided by operating activities 66,843 41,957
Investing activities    
Purchases of property and equipment (30,305) (29,155)
Purchases of property and equipment related to damages from natural disasters (1,366) 0
Insurance proceeds related to damages from natural disasters 2,900 0
Notes issued 0 (153)
Repayments of notes issued 4,534 1,794
Proceeds from dispositions and refranchising, net of cash transferred 0 1,495
Proceeds from investments 4,739 2,275
Other 109 (97)
Net cash used in investing activities (19,389) (23,841)
Financing activities    
Net (repayments of) proceeds from revolving credit facilities (212,927) 3,024
Proceeds from term loan 200,000 0
Debt issuance costs (3,223) 0
Proceeds from exercise of stock options 397 933
Dividends paid to common stockholders (30,493) (30,212)
Tax payments for equity award issuances (1,208) (3,330)
Distributions to noncontrolling interests (339) (405)
Principal payments on finance leases (4,903) (4,796)
Other (55) 358
Net cash used in financing activities (52,751) (34,428)
Effect of exchange rate changes on cash and cash equivalents 641 30
Change in cash and cash equivalents (4,656) (16,282)
Cash and cash equivalents at beginning of period 37,955 40,587
Cash and cash equivalents at end of period $ 33,299 $ 24,305

Source

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