Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2017
Dec. 25, 2016
Dec. 27, 2015
Cash Flows From Operating Activities:      
Net income $ 30,019 $ 11,725 $ 47,704
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 92,545 86,695 77,374
Gift card breakage (4,026) (3,517) (5,079)
(Benefit) provision for deferred income taxes and benefit from exercise of stock options (6,478) (11,929) 2,681
Other charges - asset impairment and restaurant closure costs 6,914 31,842 581
Stock-based compensation 4,788 4,545 4,724
Amortization of debt issuance costs and other 1,043 555 479
Changes in operating assets and liabilities, net of effects of acquired business:      
Accounts receivable and other current assets (5,130) (3,537) 4,272
Inventory 416 (1,218) (2,375)
Other assets 4,251 (1,618) (3,055)
Trade accounts payable, accrued and other liabilities 21,578 (22,414) 1,536
Unearned revenue 9,701 5,073 7,909
Deferred rent 986 2,755 4,172
Net cash provided by operating activities 156,607 98,957 140,923
Cash Flows From Investing Activities:      
Purchases of property, equipment and intangible assets (83,531) (163,767) (166,284)
Acquisition of franchise restaurants, net of cash acquired 0 (39,966) (2,532)
Proceeds from sales of real estate and property, plant, and equipment and other 241 4,354 0
Other investing activities 0 0 (295)
Net cash used in investing activities (83,290) (199,379) (169,111)
Cash Flows From Financing Activities:      
Borrowings of long-term debt 186,550 366,500 415,500
Payments of long-term debt and capital leases (257,215) (233,642) (352,550)
Purchase of treasury stock 0 (46,078) (40,009)
Debt issuance costs (664) (1,058) (319)
Tax benefit from exercise of stock options 0 411 1,980
Proceeds from exercise of stock options and employee stock purchase plan 3,405 3,200 4,165
Net cash (used in) provided by financing activities (67,924) 89,333 28,767
Effect of exchange rate changes on cash and cash equivalents 589 116 (282)
Net increase (decrease) in cash and cash equivalents 5,982 (10,973) 297
Cash and cash equivalents, beginning of year 11,732 22,705 22,408
Cash and cash equivalents, end of year $ 17,714 $ 11,732 $ 22,705