|
Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
|
12 Months Ended |
|
Dec. 25, 2013
|
Dec. 26, 2012
|
Dec. 28, 2011
|
| Cash flows from operating activities: |
|
|
|
| Net income |
$ 24,572 |
$ 22,309 |
$ 112,287 |
| Adjustments to reconcile net income to cash flows provided by operating activities: |
|
|
|
| Depreciation and amortization |
21,501 |
22,304 |
27,979 |
| Operating (gains), losses and other charges, net |
7,071 |
482 |
2,102 |
| Amortization of deferred financing costs |
497 |
775 |
1,374 |
| Amortization of debt discount |
0 |
137 |
547 |
| Loss on early extinguishment of debt |
2,226 |
8,290 |
2,589 |
| Loss on change in the fair value of interest rate cap |
42 |
61 |
0 |
| Deferred income tax expense |
9,100 |
11,423 |
3,223 |
| Reversal of tax valuation allowance |
(420) |
(661) |
(89,102) |
| Share-based compensation |
4,852 |
3,496 |
4,219 |
| Decrease (increase) in assets: |
|
|
|
| Receivables |
116 |
(1,740) |
2,232 |
| Inventories |
9 |
548 |
598 |
| Other current assets |
984 |
2,820 |
(1,112) |
| Other assets |
(2,110) |
(3,172) |
405 |
| Increase (decrease) in liabilities: |
|
|
|
| Accounts payable |
(5,520) |
(1,217) |
2,042 |
| Accrued salaries and vacations |
(2,545) |
2,279 |
934 |
| Accrued taxes |
101 |
(747) |
(620) |
| Other accrued liabilities |
(746) |
(4,420) |
(4,687) |
| Other noncurrent liabilities and deferred credits |
(2,688) |
(3,763) |
(5,501) |
| Net cash flows provided by operating activities |
57,042 |
59,204 |
59,509 |
| Cash flows from investing activities: |
|
|
|
| Capital expenditures |
(16,818) |
(14,164) |
(16,089) |
| Acquisition of restaurants and real estate |
(3,980) |
(1,422) |
0 |
| Proceeds from disposition of property |
1,582 |
15,555 |
8,598 |
| Collections on notes receivable |
4,779 |
1,970 |
1,347 |
| Issuance of notes receivable |
(2,033) |
(5,440) |
0 |
| Purchase of trademarks |
0 |
0 |
(1,553) |
| Net cash flows used in investing activities |
(16,470) |
(3,501) |
(7,697) |
| Cash flows from financing activities: |
|
|
|
| Net revolver borrowings under new credit agreement |
95,250 |
0 |
0 |
| Term loan borrowings under new credit agreement |
60,000 |
190,000 |
0 |
| Long-term debt payments |
(176,729) |
(222,741) |
(46,253) |
| Debt transaction costs |
(366) |
(1,097) |
(839) |
| Deferred financing costs |
(1,374) |
(1,809) |
(3,421) |
| Purchase of treasury stock |
(25,039) |
(21,618) |
(21,569) |
| Proceeds from exercise of stock options |
2,955 |
2,180 |
4,850 |
| Tax withholding on share-based payments |
(796) |
(327) |
(377) |
| Tax (expense) benefit for share-based compensation |
(387) |
1,010 |
670 |
| Net bank overdrafts |
(4,708) |
(1,476) |
(207) |
| Net cash flows used in financing activities |
(51,194) |
(55,878) |
(67,146) |
| Increase (decrease) in cash and cash equivalents |
(10,622) |
(175) |
(15,334) |
| Cash and cash equivalents at beginning of period |
13,565 |
13,740 |
29,074 |
| Cash and cash equivalents at end of period |
$ 2,943 |
$ 13,565 |
$ 13,740 |