| |
Fiscal Years |
|
|
|
| |
|
2002 |
|
2001 |
|
2000 |
|
|
|
|
| Cash Flows from Operating Activities: |
| Net income |
$ |
152,713 |
|
$ |
145,148 |
|
$ |
117,840 |
| Adjustments to reconcile net income to net cash provided by operating |
| activities: |
| Depreciation and amortization |
|
130,102 |
|
|
100,064 |
|
|
90,647 |
| Amortization of deferred costs |
|
8,252 |
|
|
1,307 |
|
|
2,124 |
| Deferred income taxes |
|
24,166 |
|
|
3,213 |
|
|
1,985 |
| Impairment of notes receivable |
|
8,723 |
|
|
— |
|
|
— |
| Loss on sale of affiliate |
|
— |
|
|
387 |
|
|
— |
| Changes in assets and liabilities, excluding effects of acquisitions and |
| disposition: |
| Receivables |
|
6,138 |
|
|
(7,439 |
) |
|
1,109 |
|
| Inventories |
|
2,863 |
|
|
(9,732 |
) |
|
(1,398 |
) |
| Prepaid expenses and other |
|
(3,467 |
) |
|
(2,112 |
) |
|
(371 |
) |
| Other assets |
|
2,965 |
|
|
(5,156 |
) |
|
(4,032 |
) |
| Current income taxes |
|
(12,654 |
) |
|
(15,154 |
) |
|
14,234 |
| Accounts payable |
|
38,808 |
|
|
16,863 |
|
|
26,964 |
| Accrued liabilities |
|
29,006 |
|
|
18,812 |
|
|
10,520 |
| Other liabilities |
|
2,418 |
|
|
610 |
|
|
9,372 |
|
|
|
|
| Net cash provided by operating activities |
|
390,033 |
|
|
246,811 |
|
|
268,994 |
|
|
|
|
| Cash Flows from Investing Activities: |
| Payments for property and equipment |
|
(371,052 |
) |
|
(205,160 |
) |
|
(165,397 |
) |
| Payments for purchases of restaurants |
|
(60,491 |
) |
|
(92,267 |
) |
|
— |
| Proceeds from sale of affiliate |
|
4,000 |
|
|
1,000 |
|
|
— |
| Investments in equity method investees |
|
(12,322 |
) |
|
(3,443 |
) |
|
(954 |
) |
| Net repayments from affiliates |
|
708 |
|
|
975 |
|
|
— |
|
|
|
|
| Net cash used in investing activities |
|
(439,157 |
) |
|
(298,895 |
) |
|
(166,351 |
) |
|
|
|
|
| Cash Flows from Financing Activities: |
| Net (payments) borrowings on credit facilities |
|
(83,200 |
) |
|
94,900 |
|
|
(58,200 |
) |
| Payments of long-term debt |
|
(16,908 |
) |
|
(14,934 |
) |
|
(14,635 |
) |
| Net proceeds from issuance of long-term debt |
|
244,288 |
|
|
— |
|
|
— |
| Proceeds from issuances of treasury stock |
|
37,792 |
|
|
38,665 |
|
|
30,645 |
| Purchases of treasury stock |
|
(136,069 |
) |
|
(65,578 |
) |
|
(60,707 |
) |
|
|
|
|
| Net cash provided by (used in) financing activities |
|
45,903 |
|
|
53,053 |
|
|
(102,897 |
) |
|
|
|
|
| Net change in cash and cash equivalents |
|
(3,221 |
) |
|
969 |
|
|
(254 |
) |
| Cash and cash equivalents at beginning of year |
|
13,312 |
|
|
12,343 |
|
|
12,597 |
|
|
|
|
| Cash and cash equivalents at end of year |
$ |
10,091 |
|
$ |
13,312 |
|
$ |
12,343 |
|
|
|
|
|
|
|
|
|
See accompanying notes to consolidated financial statements.
|
