Consolidated Statements of Cash Flows - USD ($)
$ in Thousands |
12 Months Ended |
Dec. 25, 2021 |
Dec. 26, 2020 |
Dec. 28, 2019 |
| Cash flows from operating activities: |
|
|
|
| Net income |
$ 108,849
|
$ 118,917
|
$ 67,983
|
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
|
| Depreciation and amortization |
102,804
|
99,370
|
93,706
|
| (Gain) loss on disposition of fixed assets |
1,026
|
3,914
|
782
|
| (Gain) on sale of marketable securities |
0
|
|
(51)
|
| Unrealized (gain) loss in value of equity securities |
900
|
1,791
|
(1,975)
|
| Deferred income taxes |
12,313
|
5,657
|
5,765
|
| Unrealized (gain) loss in SERP |
(2,309)
|
(2,641)
|
(135)
|
| Changes in operating assets and liabilities: |
|
|
|
| Inventories |
(563)
|
10,782
|
950
|
| Accounts receivable and prepaid expenses |
2,727
|
(6,804)
|
2,431
|
| Accounts payable and other liabilities |
174
|
54,658
|
(505)
|
| Income taxes |
2,302
|
(3,139)
|
913
|
| Other |
(514)
|
(4,515)
|
1,822
|
| Net cash provided by operating activities |
227,709
|
277,990
|
171,686
|
| Cash flows from investing activities: |
|
|
|
| Purchase of property and equipment |
(151,800)
|
(130,991)
|
(101,456)
|
| Proceeds from the sale of property and equipment |
5,932
|
470
|
4,245
|
| Purchase of marketable securities |
(116,268)
|
(50,789)
|
(13,620)
|
| Proceeds from the sale and maturities of marketable securities |
19,680
|
7,730
|
7,165
|
| Purchase of intangible assets |
(208)
|
(127)
|
(1,489)
|
| Change in SERP investment |
(1,986)
|
(1,188)
|
(4,114)
|
| Net cash used in investing activities |
(244,650)
|
(174,895)
|
(109,269)
|
| Cash flows from financing activities: |
|
|
|
| Dividends paid |
(33,623)
|
(33,354)
|
(33,354)
|
| Net cash used in financing activities |
(33,623)
|
(33,354)
|
(33,354)
|
| Net increase (decrease) in cash and cash equivalents |
(50,564)
|
69,741
|
29,063
|
| Cash and cash equivalents at beginning of year |
136,612
|
66,871
|
37,808
|
| Cash and cash equivalents at end of period |
$ 86,048
|
$ 136,612
|
$ 66,871
|