| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 |
|---|---|---|---|---|---|---|---|---|---|
Cash flows provided by operating activities: | |||||||||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | |||||||||
134,117 | 109,538 | 103,608 | 43,987 | 131,560 | 95,926 | 214,568 | 61,304 | 109,179 | 59,176 |
Adjustments to reconcile Net (loss) income to cash provided by operating activities: | |||||||||
Depreciation and amortization | |||||||||
196,811 | 201,593 | 192,282 | 193,838 | 190,399 | 190,911 | 164,094 | 155,482 | 153,689 | 156,267 |
Amortization of deferred discounts and issuance costs | |||||||||
2,517 | 2,561 | 2,868 | 7,857 | 4,722 | 5,194 | 3,574 | 8,222 | 12,297 | 13,435 |
Amortization of Deferred Sales Commissions | |||||||||
26,094 | 27,227 | 26,751 | 28,045 | 28,205 | 27,509 | 23,826 | 21,136 | 18,058 | 15,046 |
Provision for impaired assets and restaurant closings | |||||||||
9,085 | 36,863 | 52,329 | 104,627 | 36,667 | 52,081 | 22,838 | 13,005 | 14,039 | 5,204 |
Non-cash operating lease costs | |||||||||
73,357 | 0 | 0 | - | - | - | - | - | - | - |
Accretion on debt discounts | |||||||||
- | - | - | - | - | - | 2,451 | 880 | 663 | 616 |
Stock-based and other non-cash compensation expense | |||||||||
24,651 | 27,433 | 25,938 | 21,522 | 22,725 | 19,689 | 21,589 | 44,778 | 39,228 | 39,512 |
Income from operations of unconsolidated affiliates | |||||||||
- | - | - | - | - | - | 7,730 | 5,450 | 8,109 | 5,492 |
Deferred income tax benefit | |||||||||
-25,890 | -29,490 | -28,051 | -76,845 | 3,996 | -13,623 | -83,603 | -7,442 | -175 | 5,182 |
Unrealized loss on derivative financial instruments | |||||||||
- | - | - | - | - | - | 0 | - | - | 18,267 |
Gain on life insurance and restricted cash investments | |||||||||
- | - | - | - | - | - | 5,284 | 5,150 | 126 | 2,821 |
Gain (Loss) on Extinguishment and Modification of Debt | |||||||||
0 | 0 | -1,069 | -26,998 | -2,956 | -11,092 | -14,586 | -20,957 | 0 | 0 |
Gain on remeasurement of equity method investment | |||||||||
- | - | - | - | - | - | 36,608 | 0 | 0 | - |
Loss on sale of a business or subsidiary | |||||||||
-206 | 0 | 15,632 | 1,633 | -1,182 | -770 | 0 | 3,500 | -4,331 | 0 |
Recovery of note receivable from affiliated entity | |||||||||
- | - | - | - | - | - | - | - | -33,150 | 0 |
Recognition of deferred gain on sale-leaseback transactions | |||||||||
0 | 12,300 | 11,900 | 5,981 | 2,121 | 2,140 | 2,135 | 1,610 | 0 | 0 |
Loss on disposal of property, fixtures and equipment | |||||||||
2,984 | 585 | -2,461 | - | - | - | -1,441 | -2,141 | -1,987 | -4,050 |
Excess tax benefit from stock-based compensation | |||||||||
- | - | - | 2,252 | 733 | 2,732 | 4,363 | 0 | 0 | - |
Other, net | |||||||||
10,471 | -4,943 | -2,951 | -830 | 2,253 | -1,395 | - | - | - | - |
Change in assets and liabilities: | |||||||||
(Increase) decrease in inventories | |||||||||
15,388 | 24,707 | -11,065 | -15,053 | 3,831 | 3,126 | -3,768 | 8,577 | 10,525 | 2,599 |
Increase in other current assets | |||||||||
40,519 | 25,405 | 12,262 | 22,778 | 43,727 | 116,828 | 28,336 | 13,746 | 60,858 | 13,292 |
Increase in other assets | |||||||||
890 | 3,190 | 1,585 | -5,752 | -16,969 | -9,459 | 259 | -4,034 | -8,209 | -10,721 |
Decrease in operating right-of-use assets, net | |||||||||
-391 | 0 | 0 | - | - | - | - | - | - | - |
(Decrease) increase in accounts payable and accrued and other current liabilities | |||||||||
-23,497 | -39,871 | 53,880 | -8,222 | -9,141 | 32,182 | 10,192 | 4,687 | 32,875 | -28,601 |
Increase in deferred rent | |||||||||
0 | 8,737 | 12,079 | 12,426 | 17,983 | 18,746 | 20,618 | 17,064 | 12,510 | 10,677 |
Increase (decrease) in unearned revenue | |||||||||
26,676 | 12,199 | -5,855 | 11,948 | 6,106 | 21,030 | 29,634 | 29,621 | 30,623 | 31,964 |
Decrease in operating lease liabilities | |||||||||
-69,886 | 0 | 0 | - | - | - | - | - | - | - |
Increase (decrease) in other long-term liabilities | |||||||||
13,223 | -7,436 | -3,022 | -14,585 | -6,525 | 4,471 | 12,403 | 2,255 | -2,295 | -5,624 |
Net cash provided by operating activities | |||||||||
317,603 | 288,074 | 409,002 | 340,587 | 395,139 | 352,006 | 377,264 | 340,091 | 322,450 | 275,154 |
Cash flows used in investing activities: | |||||||||
Purchases of life insurance policies | |||||||||
- | - | - | - | - | - | 4,159 | 6,451 | 2,027 | 2,405 |
Proceeds received from life insurance policies | |||||||||
- | - | - | - | - | - | 1,239 | 0 | 2,638 | 6,411 |
Proceeds from disposal of property, fixtures and equipment | |||||||||
18,291 | 14,041 | 1,020 | 1,726 | - | 5,745 | 3,223 | 4,529 | 2,150 | 462 |
Proceeds from sale-leaseback transactions, net | |||||||||
7,085 | 16,160 | 98,840 | 530,684 | 0 | 0 | - | 192,886 | 0 | 0 |
Acquisition of business, net of cash acquired | |||||||||
- | - | - | - | - | 3,063 | 100,319 | 0 | 0 | 4,398 |
Proceeds from sale of a business, net of cash divested | |||||||||
0 | 0 | 39,196 | 28,635 | 7,798 | 0 | 0 | 3,500 | 10,119 | 0 |
Capital expenditures | |||||||||
161,926 | 208,224 | 260,589 | 260,578 | 210,263 | 237,868 | 237,214 | 178,720 | 120,906 | 60,476 |
Decrease in restricted cash | |||||||||
- | - | - | - | - | 26,075 | 29,210 | 84,270 | 86,579 | 18,545 |
Increase in restricted cash | |||||||||
- | - | - | - | - | 30,176 | 38,117 | 80,070 | 83,148 | -29,860 |
Other investments, net | |||||||||
-5,259 | -727 | 1,582 | 5,219 | -14,870 | 1,055 | - | - | - | - |
Investment in unconsolidated affiliates | |||||||||
- | - | - | - | - | - | 0 | - | - | 0 |
Royalty termination fee | |||||||||
- | - | - | - | - | - | - | - | 8,547 | 0 |
Net cash used in investing activities | |||||||||
-131,291 | -177,296 | -123,115 | 295,248 | -187,595 | -240,342 | -346,137 | 19,944 | -113,142 | -71,721 |
Cash flows provided by (used in) financing activities: | |||||||||
Proceeds from issuance of long-term debt, net | |||||||||
0 | 1,637 | 621,603 | 364,211 | 149,250 | 292,596 | - | - | - | - |
Extinguishment and modification of debt | |||||||||
0 | 0 | 1,193,719 | 478,906 | 215,000 | 700,000 | - | - | - | - |
Proceeds from issuance of senior secured Term loans | |||||||||
- | - | - | - | - | - | 0 | 990,000 | 0 | 0 |
Extinguishment and modification of senior secured term loan | |||||||||
- | - | - | - | - | - | 0 | 1,004,575 | 0 | 0 |
Proceeds from issuance of 2012 CMBS Loan | |||||||||
- | - | - | - | - | - | - | 495,186 | 0 | 0 |
Repayments of long-term debt | |||||||||
27,259 | 26,686 | 75,528 | 355,616 | 43,076 | 31,873 | 80,805 | 46,868 | 25,189 | 140,853 |
Extinguishment of CMBS loan | |||||||||
- | - | - | - | - | - | - | 777,563 | 0 | 0 |
Extinguishment of senior notes | |||||||||
- | - | - | - | - | - | - | 254,660 | 0 | 0 |
Proceeds from borrowings on revolving credit facilities, net | |||||||||
670,800 | 476,829 | 1,345,761 | 729,500 | 564,040 | 519,000 | 100,000 | 111,000 | 33,000 | 61,000 |
Repayments of borrowings on revolving credit facilities | |||||||||
671,300 | 478,500 | 676,500 | 539,500 | 458,300 | 194,000 | 100,000 | 144,000 | 78,072 | 55,928 |
Issuance of notes receivable due from stockholders | |||||||||
- | - | - | - | - | - | - | 587 | 1,082 | 747 |
Purchase of limited partnership and joint venture interests | |||||||||
- | - | - | - | - | - | - | - | - | 0 |
Repayments of notes receivable due from stockholders | |||||||||
- | - | - | - | - | - | 5,829 | 1,661 | 3 | 97 |
Repurchase of common stock | |||||||||
106,992 | 113,967 | 272,916 | 310,334 | 170,769 | 930 | 436 | 0 | 0 | - |
Excess tax benefit from stock-based compensation | |||||||||
- | - | - | 2,252 | 733 | 2,732 | 4,363 | 0 | 0 | - |
Payments of taxes from share-based compensation, net | |||||||||
- | - | - | - | - | - | - | 0 | - | - |
Proceeds from failed sale-leaseback transactions, net | |||||||||
0 | 0 | 5,942 | 18,246 | 0 | 0 | - | - | - | - |
Collection of note receivable from affiliated entity | |||||||||
- | - | - | - | - | - | - | - | 33,300 | 0 |
Financing fees | |||||||||
- | - | - | - | - | - | 12,519 | 18,983 | 2,222 | 1,391 |
Proceeds, Issuance of Shares, Share-based Payment Arrangement, Including Option Exercised | |||||||||
2,707 | 36,612 | 10,439 | 6,843 | 6,024 | 9,070 | 27,786 | - | - | - |
Distributions to noncontrolling interests | |||||||||
7,214 | 6,943 | 5,973 | 5,818 | 4,761 | 5,062 | 8,086 | -13,977 | -13,088 | 11,596 |
Contributions from noncontrolling interests | |||||||||
1,349 | 2,037 | 873 | 738 | 3,635 | 1,872 | 27 | - | - | 125 |
Purchase of limited partnership and noncontrolling interests | |||||||||
41 | 2,112 | 5,713 | 39,476 | 890 | 17,211 | 0 | 40,582 | 0 | - |
Proceeds from the issuance of common stock in connection with initial public offering | |||||||||
- | - | - | - | - | - | - | 142,242 | 0 | 0 |
Proceeds from the exercise of stock options | |||||||||
- | - | - | - | - | - | - | 884 | 0 | 0 |
Payments for partner equity plan | |||||||||
15,675 | 19,947 | 16,786 | 18,739 | 42,555 | 24,925 | 23,286 | 25,397 | 35,950 | 18,022 |
Cash dividends paid on common stock | |||||||||
35,734 | 33,312 | 30,988 | 31,379 | 29,332 | 0 | 0 | - | - | - |
Net cash provided by (used in) financing activities | |||||||||
-189,359 | -164,352 | -293,505 | -657,978 | -241,001 | -148,731 | -87,127 | -586,219 | -89,300 | -167,315 |
Effect of exchange rate changes on cash and cash equivalents | |||||||||
-1,631 | -4,146 | 975 | 2,955 | -9,193 | -7,060 | 4,181 | 5,790 | -3,460 | -1,539 |
Net decrease in cash, cash equivalents and restricted cash | |||||||||
-4,678 | -57,720 | -6,643 | -19,188 | -42,650 | -44,127 | -51,819 | -220,394 | 116,548 | 34,579 |
Supplemental disclosures of cash flow information: | |||||||||
Cash paid for interest | |||||||||
47,893 | 41,681 | 40,475 | 41,645 | 53,971 | 57,241 | 71,397 | 78,216 | 72,099 | 96,718 |
Cash paid for income taxes, net of refunds | |||||||||
23,995 | 15,839 | 33,392 | 88,823 | 31,552 | 56,216 | 33,673 | 24,276 | 27,699 | 10,779 |
Supplemental disclosures of non-cash investing and financing activities: | |||||||||
Leased assets obtained in exchange for new operating lease liabilities | |||||||||
67,955 | 0 | 0 | - | - | - | - | - | - | - |
Leased assets obtained in exchange for new finance lease liabilities | |||||||||
208 | 0 | 0 | - | - | - | - | - | - | - |
Purchase of noncontrolling interest included in accrued and other current liabilities | |||||||||
- | - | - | 1,414 | 0 | 0 | - | - | - | - |
Decrease in liabilities from the acquisition of property, fixtures and equipment | |||||||||
-2,899 | 2,699 | -4,747 | 9,610 | 3,396 | -1,669 | 3,050 | 8,006 | 8,683 | 2,506 |
Release of valuation allowance through additional paid-in capital related to purchases of limited partnerships and joint venture interests | |||||||||
- | - | - | - | - | - | 15,669 | 0 | 0 | - |
Deferred tax effect of purchase of noncontrolling interests | |||||||||
- | - | - | 1,504 | 0 | 6,785 | 0 | 0 | - | - |
Conversion of accrued partner obligations to noncontrolling interests | |||||||||
- | - | - | - | 6,364 | 0 | 0 | - | - | - |
Conversion of partner deposits and accrued partner obligations to notes payable | |||||||||
- | - | - | - | - | 503 | 1,875 | 6,434 | 5,764 | 5,685 |