Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.20.4
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2020
Dec. 26, 2019
Dec. 27, 2018
Operating activities      
Net income $ 194,981 $ 150,631 $ 116,187
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 91,640 74,001 51,992
Gain on early extinguishment of debt (1,015) 0 0
Loss on asset impairments and disposals, net 14 4,111 23
Amortization of tenant improvement allowances 0 0 (4,494)
Operating lease termination 0 1,926 0
Deferred income taxes 9,614 (10,584) (968)
Interest cap derivative contracts 372 446 (212)
Stock-based compensation expense 16,115 8,711 6,514
Changes in operating assets and liabilities:      
Receivables, net 18,874 (17,850) (13,486)
Inventories, net (72,135) (110,851) (53,557)
Trade accounts payable 49,439 54,956 54,773
Accrued expenses and other current liabilities 59,017 20,744 (1,731)
Income taxes 15,264 3,894 6,221
Deferred revenue 3,432 1,439 3,002
Deferred rent 0 0 14,455
Tenant improvement allowances 0 0 15,010
Other, net 20,552 23,084 (8,105)
Net cash provided by operating activities 406,164 204,658 185,624
Investing activities      
Purchases of fixed assets (212,448) (196,008) (151,397)
Net cash used in investing activities (212,448) (196,008) (151,397)
Financing activities      
Borrowings on revolving line of credit 275,000 100,100 217,050
Payments on revolving line of credit (275,000) (100,100) (258,050)
Proceeds from term loans 75,000 0 0
Payments on term loans (2,697) (3,500) (3,500)
Proceeds from exercise of stock options 19,254 18,798 10,531
Debt issuance costs (6,882) 0 (170)
Proceeds from employee stock purchase plan 2,344 2,445 0
Net cash provided by (used in) financing activities 87,019 17,743 (34,139)
Net increase in cash and cash equivalents 280,735 26,393 88
Cash and cash equivalents, beginning of the period 27,037 644 556
Cash and cash equivalents, end of the period 307,772 27,037 644
Supplemental disclosures of cash flow information      
Buildings and equipment acquired under operating leases 177,932 277,392 0
Cash paid for interest, net of capitalized interest 8,043 7,388 7,563
Cash paid for income taxes, net of refunds 12,670 6,453 1,082
Fixed assets accrued at the end of the period $ 19,987 $ 19,527 $ 15,120