Operating activities: | |
Net income | -39.69M |
Adjustments to reconcile net income to net cash provided by operating activities: | |
Depreciation | |
Amortization of intangibles | |
Provision for bad debts | |
Deferred income taxes | |
Loss on impairments, including disposition of assets | 6.25M |
Equity in earnings of unconsolidated franchises | |
Share-based compensation expense | 861K |
Excess tax benefits from share-based compensation | |
Gain on franchise partnership acquisitions, net of settlement losses | |
Other | 150K |
Changes in operating assets and liabilities: | |
Receivables | 1M |
Inventories | 404K |
Income taxes | -1.72M |
Prepaid and other assets | 865K |
Accounts payable, accrued and other liabilities | 1.51M |
Net cash provided by operating activities | 1.61M |
Investing activities: | |
Purchases of property and equipment | -6.36M |
Acquisition of franchise and other entities | |
Proceeds from disposal of assets | 5.26M |
(Increases)/reductions in Deferred Compensation Plan assets | 312K |
Insurance proceeds from property claims | 150K |
Other, net | 860K |
Net cash used by investing activities | 221K |
Financing activities: | |
Net proceeds/(payments) on revolving credit facility | |
Principal payments on other long-term debt | -475K |
Stock repurchases | -26K |
Proceeds from exercise of stock options | |
Excess tax benefits from share-based compensation | |
Net cash used by financing activities | -508K |
Decrease in cash and short-term investments | 1.32M |
Cash and short-term investments: | |
Beginning of year | 67.34M |
End of year | 68.66M |
Cash paid/(received) for: | |
Interest, net of amount capitalized | 314K |
Income taxes, net | 7K |
Significant non-cash investing and financing activities: | |
Retirement of fully depreciated assets | 7.18M |
Reclassification of properties to assets held for sale or receivables | |
Assumption of debt and capital leases related to franchise partnership acquisitions |