|
Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
|
3 Months Ended |
|
Mar. 31, 2015
|
Mar. 31, 2014
|
| Cash flows from operating activities: |
|
|
| Net income |
$ 63,270 |
$ 69,903 |
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
| Depreciation and amortization expense |
14,430 |
13,428 |
| Amortization of debt costs |
463 |
448 |
| Increase in provision for inventory losses |
5,281 |
4,303 |
| Gain on sale of company-owned stores to franchisees |
(338) |
(2,283) |
| Decrease (increase) in receivables |
1,597 |
(6,514) |
| Decrease (increase) in inventory |
5,661 |
(17,833) |
| (Increase) decrease in prepaid and other assets |
(10,978) |
5,989 |
| Increase in accounts payable |
22,482 |
21,925 |
| Increase in deferred revenue and other liabilities |
12,976 |
28,926 |
| Other operating activities |
2,093 |
4,340 |
| Net cash provided by operating activities |
116,937 |
122,632 |
| Cash flows from investing activities: |
|
|
| Capital expenditures |
(7,519) |
(12,849) |
| Other investing activities |
273 |
12 |
| Net cash used in investing activities |
(7,246) |
(12,837) |
| Cash flows from financing activities: |
|
|
| Dividends paid to shareholders |
(15,756) |
(14,555) |
| Payments on long-term debt |
(1,199) |
(1,676) |
| Proceeds from exercised stock options |
896 |
1,499 |
| Excess tax benefits from stock-based compensation |
320 |
911 |
| Repurchase of treasury stock |
(60,773) |
(150,000) |
| Net cash used in financing activities |
(76,512) |
(163,821) |
| Effect of exchange rate on cash and cash equivalents |
(87) |
463 |
| Net decrease in cash and cash equivalents |
33,092 |
(53,563) |
| Beginning balance, cash and cash equivalents |
133,834 |
226,217 |
| Ending balance, cash and cash equivalents |
$ 166,926 |
$ 172,654 |