| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 |
|---|---|---|---|---|---|---|---|---|---|---|
Cash flows from operating activities: | ||||||||||
Net (loss) income | ||||||||||
6,215 | 5,539 | 28,956 | 17,244 | 17,244 | 12,896 | 11,491 | 11,069 | 5,457 | 3,464 | 3,291 |
Adjustments to reconcile net (loss) income to net cash provided by operating activities: | ||||||||||
Depreciation and amortization | ||||||||||
20,739 | 19,804 | 17,560 | 15,081 | 15,081 | 12,827 | 10,310 | 8,858 | 6,528 | 4,448 | 2,732 |
Amortization of loan origination costs | ||||||||||
33 | 33 | 34 | 33 | 33 | 43 | 45 | 45 | 248 | 285 | 188 |
Impairment and closure costs | ||||||||||
- | - | - | 1,367 | 1,367 | 4,360 | 0 | - | - | - | - |
Loss on asset impairment | ||||||||||
12,693 | 12,336 | 0 | - | - | - | - | 0 | - | - | - |
Write-off of loan origination costs associated with paydown of long-term debt | ||||||||||
- | - | - | - | - | - | - | - | 1,673 | 78 | - |
Stock-based compensation | ||||||||||
3,286 | 3,096 | 2,880 | 2,193 | 2,193 | 1,718 | 1,054 | 531 | 329 | 352 | 310 |
Excess tax benefit from stock-based compensation | ||||||||||
- | - | - | 3,265 | 3,265 | 34 | 609 | 3,990 | 0 | 0 | - |
Gain on insurance related to property and equipment | ||||||||||
- | - | - | 0 | - | 0 | - | - | - | - | - |
Deferred compensation contributed by stockholder | ||||||||||
- | - | - | - | - | - | - | - | - | 32 | 96 |
Non-cash settlement with former director | ||||||||||
- | - | - | - | - | - | - | - | - | 70 | - |
Loss on disposal of property and equipment | ||||||||||
-283 | -97 | -107 | -43 | -43 | -108 | -30 | -61 | -56 | -44 | -51 |
Amortization of deferred lease incentives | ||||||||||
0 | 2,869 | 2,517 | 2,125 | 2,125 | 1,684 | 1,303 | 1,242 | 848 | -620 | -241 |
Deferred income taxes | ||||||||||
-5,096 | -3,837 | -7,331 | 3,488 | 3,488 | 3,074 | 3,060 | -314 | 1,760 | 1,198 | 1,218 |
Changes in operating assets and liabilities: | ||||||||||
Accounts receivable | ||||||||||
-628 | -642 | 1,564 | 14 | 14 | 196 | 286 | 72 | 117 | 44 | 188 |
Lease incentive receivable | ||||||||||
1,347 | 4,754 | -2,329 | - | - | - | - | - | - | - | - |
Income tax receivable and payable | ||||||||||
-1,135 | -622 | -958 | 1,196 | 1,196 | 1,362 | 0 | - | - | - | - |
Inventories | ||||||||||
116 | -64 | 154 | 265 | 265 | 268 | 221 | 84 | 4 | 204 | 107 |
Prepaid expenses and other current assets | ||||||||||
-360 | -2,188 | 717 | 2,574 | 2,574 | -448 | 586 | 96 | 696 | 80 | 43 |
Lease incentives receivable | ||||||||||
1,347 | 4,754 | -2,329 | - | - | - | - | - | - | - | 2,962 |
Lease origination costs | ||||||||||
- | - | - | - | - | - | - | - | - | - | -227 |
Accounts payable | ||||||||||
-2,594 | -1,454 | -2,248 | -1,471 | -1,471 | -1,708 | -770 | -610 | 1,381 | 204 | 217 |
Accrued liabilities | ||||||||||
4,279 | 733 | -1,269 | 5,975 | 5,975 | 7,529 | 2,853 | 4,612 | 3,904 | 2,767 | 754 |
Accrued deferred rent | ||||||||||
0 | 2,752 | 2,595 | - | - | - | - | - | - | - | - |
Operating lease liability | ||||||||||
-778 | 0 | 0 | - | - | - | - | - | - | - | - |
Deferred lease incentives | ||||||||||
0 | 3,382 | 9,482 | 8,124 | 8,124 | 7,642 | 4,067 | 5,473 | 5,032 | 5,361 | 6,663 |
Net cash provided by operating activities | ||||||||||
43,431 | 47,882 | 44,382 | 42,638 | 42,638 | 45,393 | 29,135 | 24,241 | 24,703 | 17,355 | 11,752 |
Cash flows from investing activities: | ||||||||||
Purchase of property and equipment | ||||||||||
32,870 | 44,087 | 49,185 | 41,566 | 41,566 | 31,628 | 33,936 | 30,905 | 27,246 | 20,797 | 16,370 |
Insurance proceeds from property claims | ||||||||||
0 | 0 | 501 | 0 | 0 | 0 | - | - | - | - | - |
Purchase of other assets | ||||||||||
404 | 434 | 450 | 319 | 319 | 372 | 388 | 293 | 179 | 152 | 272 |
Net proceeds on note receivable | ||||||||||
- | - | - | - | - | - | - | - | - | 115 | -4 |
Net cash used in investing activities | ||||||||||
-33,274 | -44,521 | -49,134 | -41,885 | -41,885 | -32,000 | -34,324 | -31,198 | -27,425 | -20,834 | -16,646 |
Cash flows from financing activities: | ||||||||||
Deferred offering costs | ||||||||||
- | - | - | - | - | - | - | - | -2,137 | -875 | - |
Borrowings under revolving line of credit | ||||||||||
5,000 | 0 | 0 | 2,000 | 2,000 | 1,000 | 4,250 | 3,000 | 7,250 | 3,700 | 2,500 |
Payments under revolving line of credit | ||||||||||
5,000 | 0 | 0 | 2,000 | 2,000 | 9,750 | 1,500 | 2,000 | 4,950 | 3,250 | 1,750 |
Payments on long-term debt | ||||||||||
- | - | - | - | - | - | - | - | 82,000 | 28,482 | 1,232 |
Borrowings on long-term debt | ||||||||||
- | - | - | - | - | - | - | - | 29,500 | 52,500 | 1,300 |
Dividend payments | ||||||||||
- | - | - | - | - | - | - | - | - | 19,010 | - |
Purchase of stock | ||||||||||
- | - | - | - | - | - | - | - | 22,474 | 0 | - |
Proceeds from sale of common stock, net of underwriting fees | ||||||||||
- | - | - | - | - | - | - | - | 81,104 | 183 | 5,351 |
Repurchase of shares of common stock | ||||||||||
7,793 | 3,607 | 0 | - | 0 | - | - | - | - | - | - |
Loan origination costs | ||||||||||
- | - | - | 0 | - | 70 | 0 | 0 | 543 | 1,797 | - |
Excess tax benefit from stock-based compensation | ||||||||||
- | - | - | 3,265 | 3,265 | 34 | 609 | 3,990 | 0 | 0 | - |
Proceeds from the exercise of stock options | ||||||||||
388 | 453 | 340 | 1,471 | 1,471 | 164 | 322 | 1,435 | 0 | 0 | - |
Indirect repurchase of shares for minimum tax withholdings | ||||||||||
877 | 793 | 497 | 324 | 324 | 57 | 0 | 0 | - | - | - |
Net cash provided by (used in) financing activities | ||||||||||
-8,282 | -3,947 | -157 | 4,412 | 4,412 | -8,679 | 3,681 | 6,425 | 5,750 | 2,969 | 6,169 |
Net increase (decrease) in cash and cash equivalents | ||||||||||
1,875 | -586 | -4,909 | 5,165 | 5,165 | 4,714 | -1,508 | -532 | 3,028 | -510 | 1,275 |
Supplemental disclosure of non-cash investing and financing activities: | ||||||||||
Property and equipment and other assets acquired by accounts payable | ||||||||||
384 | 1,521 | 630 | 2,191 | 2,191 | 3,081 | 2,071 | 1,767 | 0 | 0 | - |
Supplemental cash flow disclosures: | ||||||||||
Cash paid for interest | ||||||||||
77 | 35 | 39 | 33 | 33 | 95 | 175 | 130 | 4,227 | 4,060 | 3,700 |
Cash paid for income taxes | ||||||||||
1,059 | 862 | 908 | 1,385 | 1,385 | 4,091 | 632 | 685 | 382 | 317 | 197 |
Deferred offering costs not yet paid | ||||||||||
- | - | - | - | - | - | - | - | - | 763 | - |
Deferred offering costs paid in 2011 reclassed to equity | ||||||||||
- | - | - | - | - | - | - | - | 875 | 0 | - |