| Dec'19 | Dec'18 | Dec'17 | ||||
|---|---|---|---|---|---|---|
Cash flows from operating activities: | ||||||
Net income (loss) | ||||||
15,419 | 15,868 | 20,601 | ||||
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||
Depreciation of property and equipment | ||||||
42,906 | 37,052 | 31,812 | ||||
Amortization of intangible and other assets | ||||||
7,237 | 10,005 | 11,344 | ||||
Amortization of debt issuance costs and bond discounts | ||||||
2,542 | 4,108 | 4,442 | ||||
Debt extinguishment and modification costs | ||||||
5,634 | 5,253 | 1,466 | ||||
Share-based compensation | ||||||
31,439 | 10,409 | 1,659 | ||||
Provision for accounts receivable | ||||||
2,575 | 749 | 3,004 | ||||
Deferred income taxes | ||||||
872 | 5,831 | 4,745 | ||||
Other | ||||||
-1,955 | -1,306 | -549 | ||||
Changes in operating assets and liabilities: | ||||||
Changes in operating assets and liabilities: | ||||||
Independent operator and other accounts receivable | ||||||
3,649 | 642 | 2,595 | ||||
Merchandise inventories | ||||||
21,115 | 15,292 | 18,202 | ||||
Prepaid expenses and other current assets | ||||||
-498 | 1,543 | 1,346 | ||||
Income and other taxes payable | ||||||
1,191 | 159 | 881 | ||||
Trade accounts payable, accrued compensation and other accrued expenses | ||||||
22,599 | 16,315 | 13,191 | ||||
Deferred rent | ||||||
0 | 16,233 | 13,152 | ||||
Changes in operating lease assets and liabilities, net | ||||||
-22,732 | 0 | 0 | ||||
Net cash provided by operating activities | ||||||
132,835 | 105,811 | 84,703 | ||||
Cash flows from investing activities: | ||||||
Cash advances to independent operators | ||||||
12,811 | 10,456 | 8,471 | ||||
Repayments of cash advances from independent operators | ||||||
4,473 | 3,749 | 3,511 | ||||
Purchase of property and equipment | ||||||
97,194 | 64,762 | 71,066 | ||||
Proceeds from sales of assets | ||||||
586 | 1,092 | 1,262 | ||||
Intangible assets and licenses | ||||||
3,073 | 3,173 | 3,056 | ||||
Net cash used in investing activities | ||||||
-108,019 | -73,550 | -77,820 | ||||
Cash flows from financing activities: | ||||||
Proceeds from initial public offering, net of underwriting discounts | ||||||
407,666 | 0 | 0 | ||||
Proceeds from exercise of share-based compensation awards | ||||||
4,444 | 29 | 0 | ||||
Proceeds from loans | ||||||
0 | 871,688 | 0 | ||||
Payments related to net settlement of share-based compensation awards | ||||||
2,813 | 34 | 172 | ||||
Other direct costs paid related to the initial public offering | ||||||
7,062 | 0 | 0 | ||||
Principal payments on term loans | ||||||
414,813 | 725,010 | 5,317 | ||||
Principal payments on other borrowings | ||||||
865 | 94 | 89 | ||||
Dividends paid | ||||||
3,645 | 153,587 | 1,307 | ||||
Debt issuance costs paid | ||||||
690 | 9,991 | 1,050 | ||||
Net cash provided by (used in) financing activities | ||||||
-17,778 | -16,999 | -7,935 | ||||
Net increase in cash and cash equivalents | ||||||
7,038 | 15,262 | -1,052 | ||||
Supplemental disclosure of cash flow information: | ||||||
Cash paid for interest | ||||||
49,372 | 47,305 | 45,836 | ||||
Income taxes paid (refunded) in cash | ||||||
-65 | 289 | -66 | ||||
Property and equipment accrued at end of period | ||||||
10,498 | 7,851 | 6,883 | ||||