CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands |
12 Months Ended |
Jan. 02, 2022 |
Jan. 03, 2021 |
Dec. 29, 2019 |
| Operating activities: |
|
|
|
| Net income (loss) |
$ 10,370
|
$ (10,211)
|
$ (84,386)
|
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: |
|
|
|
| Gain on disposals of property and equipment, net |
(124)
|
(3,267)
|
(6)
|
| Stock-based compensation |
6,076
|
3,484
|
2,844
|
| Impairment and other lease charges |
1,670
|
9,139
|
13,101
|
| Goodwill impairment |
0
|
0
|
67,909
|
| Loss on extinguishment of debt |
5,307
|
1,241
|
0
|
| Gain on sale of Taco Cabana |
(24,979)
|
0
|
0
|
| Depreciation and amortization |
28,373
|
38,206
|
39,195
|
| Amortization of deferred financing costs |
526
|
437
|
270
|
| Deferred income taxes |
(4,384)
|
(650)
|
10,888
|
| Changes in other operating assets and liabilities: |
|
|
|
| Accounts receivable |
525
|
(951)
|
640
|
| Prepaid expenses and other current assets |
(454)
|
340
|
364
|
| Operating lease right-of-use assets |
18,245
|
24,213
|
23,780
|
| Other non-current assets |
(1,955)
|
3,396
|
(1,360)
|
| Accounts payable |
(1,301)
|
1,309
|
504
|
| Accrued payroll, related taxes and benefits |
(3,952)
|
4,370
|
(220)
|
| Accrued real estate taxes |
(1,861)
|
103
|
626
|
| Other current liabilities |
(1,633)
|
(3,396)
|
(2,618)
|
| Operating lease liabilities |
(18,290)
|
(23,264)
|
(19,765)
|
| Other non-current liabilities |
(3,633)
|
2,166
|
(162)
|
| Income tax receivable/payable |
5,553
|
(5,578)
|
14,036
|
| Other |
(23)
|
(815)
|
(608)
|
| Net cash provided by operating activities |
14,056
|
40,272
|
65,032
|
| Capital expenditures: |
|
|
|
| New restaurant development |
0
|
(1,863)
|
(11,390)
|
| Restaurant remodeling |
(2,380)
|
(1,103)
|
(2,573)
|
| Other restaurant capital expenditures |
(14,732)
|
(11,270)
|
(19,335)
|
| Corporate and restaurant information systems |
(2,416)
|
(4,133)
|
(7,949)
|
| Total capital expenditures |
(19,528)
|
(18,369)
|
(41,247)
|
| Proceeds from sale of Taco Cabana |
74,910
|
0
|
0
|
| Proceeds from disposals of properties |
1,307
|
9,559
|
1,774
|
| Proceeds from sale-leaseback transactions |
3,083
|
17,222
|
0
|
| Proceeds from insurance recoveries |
0
|
0
|
42
|
| Net cash provided by (used in) investing activities |
59,772
|
8,412
|
(39,431)
|
| Financing activities: |
|
|
|
| Borrowings on revolving credit facility |
0
|
154,143
|
32,000
|
| Repayments on revolving credit facility |
0
|
(229,143)
|
(35,000)
|
| Borrowings of unsecured debt |
0
|
15,000
|
0
|
| Repayments of unsecured debt |
0
|
(15,000)
|
0
|
| Borrowings of secured debt |
0
|
73,500
|
0
|
| Repayment of secured debt |
(75,000)
|
0
|
0
|
| Principal payments on finance leases |
(219)
|
(237)
|
(164)
|
| Financing costs associated with debt |
0
|
(3,013)
|
0
|
| Premium and other costs related to extinguishment of debt |
(2,238)
|
0
|
0
|
| Payments to purchase treasury stock |
(9,356)
|
(3,728)
|
(14,282)
|
| Net cash used in financing activities |
(86,813)
|
(8,478)
|
(17,446)
|
| Net change in cash and restricted cash |
(12,985)
|
40,206
|
8,155
|
| Cash and restricted cash, beginning of year |
53,362
|
13,089
|
4,940
|
| Cash and restricted cash of discontinued operations, beginning of year |
257
|
324
|
318
|
| Cash and restricted cash of discontinued operations, end of year |
0
|
(257)
|
(324)
|
| Cash and restricted cash, end of year |
$ 40,634
|
$ 53,362
|
$ 13,089
|