Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.22.4
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 25, 2022
Dec. 26, 2021
Dec. 27, 2020
Cash flows from operating activities:      
Net income (loss) $ 38,621 $ 42,275 $ (25,294)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation and amortization 22,103 20,487 21,964
Deferred income taxes (3,787) 9,015 (3,688)
Non-cash interest expense 217 386 346
Loss on impairment 574 1,854 16,548
Stock-based compensation expense 7,872 4,888 8,261
Changes in operating assets and liabilities:      
Accounts receivable 342 (18,471) 1,939
Inventories (716) (1,713) 1,983
Prepaid expenses and other (215) (265) (603)
Other assets (188) 22 (25)
Accounts payable and accrued expenses 172 15,076 (13,340)
Deferred revenue 5,346 9,999 6,174
Operating lease liabilities and assets (29) (5,782) 5,530
Other liabilities (3,111) 3,620 290
Net cash provided by operating activities 67,201 81,391 20,085
Cash flows from investing activities:      
Acquisition of property and equipment (46,958) (19,651) (10,620)
Net cash used in investing activities (46,958) (19,651) (10,620)
Cash flows from financing activities:      
Principal borrowings on long-term debt 15,000 0 85,000
Principal repayments on long-term debt (55,000) (45,000) (34,000)
Principal borrowings from the CARES Act loan 0 0 20,000
Principal repayments on the CARES Act loan 0 0 (20,000)
Repurchase of common stock (29,564) (16,586) (13,226)
Net proceeds from the sale of common stock 0 0 49,558
Cash dividend payments (18,289) 0 (4,428)
Tax payments from the vesting of restricted stock (1,521) (2,811) (1,573)
Deferred financing costs 0 (612) (961)
Net cash provided by (used in) financing activities (89,374) (65,009) 80,370
Net increase (decrease) in cash and cash equivalents (69,131) (3,269) 89,835
Cash and cash equivalents at beginning of year 92,133 95,402 5,567
Cash and cash equivalents at end of year 23,002 92,133 95,402
Supplemental disclosures of cash flow information:      
Interest, net of capitalized interest 1,162 3,199 4,299
Income taxes 12,240 3,064 (1,428)
Noncash investing and financing activities:      
Accrued acquisition of property and equipment $ 473 $ 2,263 $ 72