v3.24.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2023
Jan. 01, 2023
Jan. 02, 2022
Cash flows from operating activities:      
Net Income (Loss) $ 519,118 $ 452,263 $ 510,467
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 80,640 80,251 72,923
Refranchising loss (gain) 149 (21,173) 0
Loss on sale/disposal of assets 1,299 1,813 1,189
Amortization of debt issuance costs 5,535 5,645 7,509
(Benefit) provision for deferred income taxes (19,509) 253 1,988
Non-cash equity-based compensation expense 37,514 28,709 28,670
Excess tax benefits from equity-based compensation (3,397) (2,169) (18,911)
Provision for losses on accounts and notes receivable 1,472 3,536 659
Unrealized gain on investments (17,713) 0 (36,758)
Changes in operating assets and liabilities:      
Changes in accounts receivable (26,515) (6,333) (8,107)
Changes in inventories, prepaid expenses and other 160 (17,059) (9,420)
Changes in accounts payable and accrued liabilities 69,373 (36,605) 51,346
Changes in insurance reserves (5,163) 1,507 6,216
Changes in operating lease assets and liabilities 632 2,174 1,210
Changes in advertising fund assets and liabilities, restricted (52,731) (17,495) 45,225
Net cash provided by operating activities 590,864 475,317 654,206
Cash flows from investing activities:      
Capital expenditures (105,396) (87,234) (94,172)
Proceeds from sale of assets 161 41,089 16
Purchases of franchise operations and other assets 0 (6,814) 0
Purchase of investments 0 0 (49,082)
Other (1,682) (722) 515
Net cash used in investing activities (106,917) (53,681) (142,723)
Cash flows from financing activities:      
Proceeds from issuance of long-term debt 14,898 120,000 1,850,000
Repayments of long-term debt and finance lease obligations (55,705) (175,676) (910,212)
Proceeds from exercise of stock options 8,656 3,312 19,682
Purchases of common stock (269,025) (293,740) (1,320,902)
Tax payments for restricted stock upon vesting (5,410) (10,720) (6,820)
Payments of common stock dividends and equivalents (169,772) (157,531) (139,399)
Cash paid for financing costs 0 (1,594) (14,938)
Other 0 0 (244)
Net cash used in financing activities (476,358) (515,949) (522,833)
Effect of exchange rate changes on cash 340 (963) (316)
Change in cash and cash equivalents, restricted cash and cash equivalents 7,929 (95,276) (11,666)
Cash and cash equivalents, beginning of period 60,356 148,160 168,821
Restricted cash and cash equivalents, beginning of period 191,289 180,579 217,453
Cash and cash equivalents included in advertising fund assets, restricted, beginning of period 143,559 161,741 115,872
Cash and cash equivalents, restricted cash and cash equivalents and cash and cash equivalents included in advertising fund assets, restricted, beginning of period 395,204 490,480 502,146
Cash and cash equivalents, end of period 114,098 60,356 148,160
Restricted cash and cash equivalents, end of period 200,870 191,289 180,579
Cash and cash equivalents included in advertising fund assets, restricted, end of period 88,165 143,559 161,741
Cash and cash equivalents, restricted cash and cash equivalents and cash and cash equivalents included in advertising fund assets, restricted, end of period $ 403,133 $ 395,204 $ 490,480