Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 6 Months Ended
Jul. 10, 2016
Jul. 12, 2015
Cash flows from operating activities:    
Net income $ 21,777,000 $ 27,731,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 43,110,000 40,263,000
Asset impairment 4,685,000 0
Stock-based compensation expense 3,079,000 2,849,000
Other, net (1,619,000) (3,949,000)
Changes in operating assets and liabilities, net of business acquisition:    
Accounts receivable and other current assets 11,923,000 9,285,000
Trade accounts payable and accrued liabilities (3,240,000) (344,000)
Unearned revenue (13,206,000) (10,051,000)
Other operating assets and liabilities, net 546,000 1,564,000
Net cash provided by operating activities 67,055,000 67,348,000
Cash flows from investing activities:    
Purchases of property, equipment, and intangible assets (96,175,000) (64,507,000)
Deposit on equipment purchase 0 (5,479,000)
Acquisition of franchise restaurants, net of cash acquired (39,977,000) 0
Proceeds from sales of real estate and property, plant, and equipment 1,944,000 0
Other investing activities 0 3,000
Net cash used in investing activities (134,208,000) (69,983,000)
Cash flows from financing activities:    
Borrowings of long-term debt 211,500,000 248,500,000
Payments of long-term debt and capital leases (121,299,000) (251,327,000)
Purchase of treasury stock (20,000,000) 0
Debt issuance costs (1,058,000) 0
Tax benefit from exercise of stock options 61,000 1,840,000
Proceeds from exercise of stock options and employee stock purchase plan 1,005,000 3,987,000
Net cash provided by financing activities 70,209,000 3,000,000
Effect of exchange rate changes on cash 181,000 (158,000)
Net change in cash and cash equivalents 3,237,000 207,000
Cash and cash equivalents, beginning of period 22,705,000 22,408,000
Cash and cash equivalents, end of period 25,942,000 22,615,000
Supplemental disclosure of cash flow information    
Income taxes paid 2,231,000 4,094,000
Interest paid, net of amounts capitalized 3,057,000 2,342,000
Change in construction related payables $ (2,481,000) $ 9,009,000