|
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
|
12 Months Ended |
|
Dec. 29, 2013
|
Dec. 30, 2012
|
Dec. 25, 2011
|
| Cash flow from operating activities: |
|
|
|
| Net earnings |
$ 26,201 |
$ 33,325 |
$ 22,186 |
| Less earnings from discontinued operations |
(49) |
743 |
473 |
| Earnings from continuing operations |
26,250 |
32,582 |
21,713 |
| Adjustments for non-cash items: |
|
|
|
| Depreciation |
20,058 |
20,590 |
21,261 |
| Amortization |
2,855 |
1,448 |
1,381 |
| Provision for doubtful accounts |
314 |
503 |
779 |
| Deferred income taxes |
12,441 |
16,104 |
11,066 |
| Non-cash stock-based compensation |
2,089 |
2,028 |
1,618 |
| Net (gain) loss from disposal of assets |
(402) |
493 |
(589) |
| Impairment of broadcast licenses |
0 |
1,616 |
735 |
| Impairment of long-lived assets |
238 |
493 |
0 |
| Net changes in operating assets and liabilities, excluding effect of sales and acquisitions: |
|
|
|
| Receivables |
(2,823) |
(2,090) |
(2,012) |
| Inventories |
753 |
(1,178) |
(731) |
| Accounts payable |
(4,589) |
5,936 |
(2,279) |
| Accrued employee benefits |
(2,105) |
(1,818) |
1,179 |
| Other assets and liabilities |
(1,663) |
(1,451) |
(10,361) |
| NET CASH PROVIDED BY OPERATING ACTIVITIES |
53,416 |
75,256 |
43,760 |
| Cash flow from investing activities: |
|
|
|
| Capital expenditures for property and equipment |
(12,440) |
(12,305) |
(10,590) |
| Proceeds from sales of assets |
720 |
1,244 |
204 |
| Proceeds from sale of businesses |
0 |
2,892 |
1,574 |
| Insurance recoveries |
645 |
0 |
0 |
| Acquisition of businesses |
(5,955) |
(231,728) |
0 |
| NET CASH (USED FOR) PROVIDED BY INVESTING ACTIVITIES |
(17,030) |
(239,897) |
(8,812) |
| Cash flow from financing activities: |
|
|
|
| Payments of financing costs |
0 |
(4,583) |
0 |
| Proceeds from long-term notes payable to banks |
194,805 |
349,955 |
94,409 |
| Payments on notes payable to banks |
(229,950) |
(161,165) |
(127,674) |
| Payments on unsecured subordinated notes payable |
(2,656) |
(9,664) |
0 |
| Principal payments under capital lease obligations |
(74) |
(258) |
(343) |
| Proceeds from issuance of common stock, net |
259 |
245 |
295 |
| Income tax benefits from vesting of restricted stock |
112 |
330 |
464 |
| Redemption of common stock, net |
0 |
(3,910) |
(4,010) |
| Purchase of noncontrolling interest |
0 |
(2,038) |
0 |
| Payment of cash equivalent of accrued dividends |
0 |
(6,246) |
0 |
| NET CASH PROVIDED BY (USED FOR) FINANCING ACTIVITIES |
(37,504) |
162,666 |
(36,859) |
| Cash flow from discontinued operations: |
|
|
|
| Net operating activities |
726 |
2,418 |
1,514 |
| Net investing activities |
(125) |
(431) |
759 |
| NET CASH PROVIDED BY DISCONTINUED OPERATIONS |
601 |
1,987 |
2,273 |
| NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS |
(517) |
12 |
362 |
| Cash and cash equivalents: |
|
|
|
| Beginning of year |
2,429 |
2,417 |
2,055 |
| End of year |
1,912 |
2,429 |
2,417 |
| SUPPLEMENTAL CASH FLOW INFORMATION |
|
|
|
| Cash paid for income taxes |
6,087 |
4,317 |
7,710 |
| Cash paid for interest |
$ 5,552 |
$ 1,521 |
$ 1,709 |