| Dec'19 | Dec'18 | Dec'17 | Jan'17 | Jan'16 | Dec'14 | Dec'13 | Dec'12 | Jan'12 | Jan'11 | Jan'10 |
|---|---|---|---|---|---|---|---|---|---|---|
Cash flows from operating activities: | ||||||||||
Net income | ||||||||||
400,709 | 361,972 | 277,905 | 214,678 | 192,789 | 162,587 | 142,985 | 112,392 | 105,361 | 87,917 | 79,744 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||
Depreciation and amortization | ||||||||||
59,930 | 53,665 | 44,369 | 38,140 | 32,434 | 35,788 | 25,783 | 23,171 | 24,042 | 24,052 | 24,064 |
Gains on debt extinguishment | ||||||||||
- | - | - | - | - | - | - | - | - | 7,809 | 56,275 |
Loss on sale/disposal of assets | ||||||||||
-2,023 | 4,737 | 3,148 | -863 | -316 | 1,107 | -367 | -540 | 2,436 | -403 | -1,843 |
Amortization of debt issuance costs | ||||||||||
4,748 | 8,033 | 10,976 | 6,418 | 12,393 | 5,746 | 6,094 | 14,596 | 6,190 | 7,837 | 9,621 |
Provision for deferred income taxes | ||||||||||
-3,297 | -872 | 6,160 | -3,059 | 1,713 | -132 | 6,055 | 4,193 | 8,169 | 6,027 | 19,476 |
Non-cash compensation expense | ||||||||||
20,265 | 22,792 | 20,713 | 18,564 | 17,623 | 17,587 | 21,987 | 17,621 | 13,954 | 13,370 | 17,254 |
Excess tax benefits from equity-based compensation | ||||||||||
25,735 | 23,786 | 27,227 | 48,129 | 17,775 | 27,583 | 19,498 | 16,220 | 15,589 | 2,100 | 383 |
Provision (benefit) for losses and accounts and notes receivable | ||||||||||
1,195 | 899 | -277 | -224 | -1,084 | -570 | -1,257 | 462 | 1,428 | 64 | 1,542 |
Other | ||||||||||
- | - | - | - | - | - | - | 531 | - | - | - |
Changes in operating assets and liabilities: | ||||||||||
Changes in accounts receivable | ||||||||||
20,900 | 18,172 | 22,649 | 18,724 | 13,678 | 12,710 | 11,001 | 6,917 | 7,713 | 3,395 | 7,235 |
Changes in inventories, prepaid expenses and other | ||||||||||
6,741 | 12,455 | -1,527 | - | - | - | - | - | 4,904 | 2,357 | - |
(Increase) decrease in inventories, prepaid expenses and other | ||||||||||
6,741 | 12,455 | -1,527 | 2,947 | 2,262 | 11,827 | 242 | 703 | 4,904 | 2,357 | 1,050 |
Changes in accounts payable and accrued liabilities | ||||||||||
66,137 | 10,010 | 22,267 | 78,929 | 69,032 | 22,776 | 21,867 | 24,914 | 21,419 | 518 | 16,669 |
Changes in insurance reserves | ||||||||||
5,322 | 2,174 | 8,420 | 2,764 | 285 | 1,784 | 849 | 2,802 | 3,152 | 3,798 | -3,996 |
Changes in operating assets and liabilities | ||||||||||
-3,302 | - | - | - | - | - | - | - | - | - | - |
Changes in advertising fund assets and liabilities, restricted | ||||||||||
10,008 | 5,352 | -2,225 | -5,187 | - | - | - | - | - | - | - |
Net cash provided by operating activities | ||||||||||
496,950 | 394,171 | 341,261 | 292,460 | 291,786 | 192,339 | 193,989 | 176,320 | 153,073 | 128,325 | 101,274 |
Cash flows from investing activities: | ||||||||||
Capital expenditures | ||||||||||
85,565 | 119,888 | 90,011 | 58,555 | 63,282 | 70,093 | 40,387 | 29,267 | 24,349 | 25,421 | 22,870 |
Proceeds from sale of assets | ||||||||||
12,258 | 8,367 | 6,835 | 4,936 | 12,724 | 9,160 | 4,518 | 2,988 | 6,031 | 2,737 | 3,730 |
Maturities of advertising fund investments, restricted | ||||||||||
50,152 | 94,007 | - | 0 | - | - | - | - | - | - | - |
Purchases of advertising fund investments, restricted | ||||||||||
- | 70,152 | - | 0 | - | - | - | - | - | - | - |
Purchases of franchise operations and other assets | ||||||||||
3,423 | - | - | - | - | - | - | - | - | - | - |
Change in restricted cash | ||||||||||
- | - | - | - | 59,986 | -4,499 | 65,438 | -32,597 | 7,082 | -5,611 | 12,270 |
Other | ||||||||||
1,276 | 591 | 562 | 1,661 | -1,252 | 1,009 | -1,574 | -1,030 | 1,541 | 1,307 | 1,481 |
Net cash used in investing activities | ||||||||||
-27,854 | -88,257 | -83,738 | -55,280 | -109,292 | -57,443 | -99,733 | 7,348 | -26,941 | -18,380 | -32,891 |
Cash flows from financing activities: | ||||||||||
Proceeds from issuance of long-term debt | ||||||||||
675,000 | 970,000 | 1,900,000 | 63,000 | 1,305,000 | - | - | 1,575,000 | - | 2,861 | 60,995 |
Repayments of long-term debt and finance lease obligations | ||||||||||
92,085 | 604,088 | 928,193 | 122,334 | 564,403 | 12,332 | 24,349 | 1,465,509 | 890 | 116,760 | 136,679 |
Proceeds from issuance of common stock | ||||||||||
- | - | - | - | - | - | - | - | 563 | 4,548 | 4,376 |
Proceeds from exercise of stock options | ||||||||||
13,100 | 9,800 | 6,100 | 15,234 | 4,814 | 9,028 | 9,451 | 8,945 | 33,524 | 9,450 | 758 |
Excess tax benefits from equity-based compensation | ||||||||||
- | - | - | 48,129 | 17,775 | 27,583 | 19,498 | 16,220 | 15,589 | 2,100 | 383 |
Purchases of common stock | ||||||||||
699,000 | 591,200 | 1,060,000 | 300,250 | 738,557 | 82,407 | 97,132 | 88,238 | 165,007 | 5,384 | - |
Tax payments for restricted stock upon vesting | ||||||||||
5,951 | 6,962 | 9,449 | 5,646 | 7,431 | 7,927 | 8,031 | 5,845 | 3,504 | 1,082 | - |
Payments of common stock dividends and equivalents | ||||||||||
105,715 | 92,166 | 84,298 | 73,925 | 80,329 | 52,843 | 34,241 | 185,484 | - | - | - |
Cash paid for financing costs | ||||||||||
8,098 | 8,207 | 16,846 | - | 17,367 | - | - | 32,538 | 3,760 | - | 552 |
Other | ||||||||||
- | - | -205 | 0 | -438 | - | - | - | - | - | -77 |
Net cash used in financing activities | ||||||||||
-222,792 | -322,803 | -197,145 | -375,792 | -80,936 | -118,898 | -134,804 | -177,449 | -123,485 | -104,267 | -70,796 |
Effect of exchange rate changes on cash | ||||||||||
201 | -538 | 66 | -1,279 | 1,036 | 474 | 118 | -1,698 | -300 | -125 | -567 |
Change in cash and cash equivalents, restricted cash and cash equivalents | ||||||||||
246,505 | -17,427 | 60,444 | -139,891 | 102,594 | 16,472 | -40,430 | 4,521 | 2,347 | 5,553 | -2,980 |