v3.25.2
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 28, 2025
Jun. 29, 2024
Statement of Cash Flows [Abstract]    
Net income $ 53,070 $ 34,420
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 70,281 87,862
Share-based compensation expense 23,078 22,843
(Gain) loss on foreign denominated transactions (17,630) 9,923
Loss (gain) on foreign currency derivatives 5,643 (4,921)
(Gain) loss on sale and disposal of businesses, fixed assets, and sale leaseback transactions (27,694) 13,406
Loss on fair value of seller note receivable 17,000 0
Reclassification of interest rate hedge to income (1,033) (1,044)
Bad debt expense 9,293 1,738
Asset impairment charges and lease terminations 18,460 2,058
Amortization of deferred financing costs and bond discounts 6,206 4,933
Amortization of cloud computing 9,136 2,414
Provision for deferred income taxes 2,215 5,036
Other, net (3,631) 7,322
Changes in operating assets and liabilities, net of acquisitions:    
Accounts and notes receivable, net (40,742) (47,245)
Inventory 773 11,310
Prepaid and other assets (6,322) 7,986
Advertising fund assets and liabilities, restricted (11,599) (12,220)
Other assets (104) (47,699)
Deferred commissions 303 (428)
Deferred revenue (1,164) 971
Accounts payable 28,707 3,968
Accrued expenses and other liabilities 22,661 8,022
Income tax receivable (1,380) (3,431)
Cash provided by operating activities 155,527 107,224
Cash flows from investing activities:    
Capital expenditures (127,622) (155,920)
Cash used in business acquisitions, net of cash acquired (6,034) (2,759)
Proceeds from sale leaseback transactions 22,810 11,808
Proceeds from sale or disposal of businesses and fixed assets 268,398 112,845
Cash provided by (used in) investing activities 157,552 (34,026)
Cash flows from financing activities:    
Payment of debt extinguishment and issuance costs (1,414) (871)
Repayment of long-term debt (305,446) (34,005)
Proceeds from revolving lines of credit and short-term debt 65,000 46,000
Repayment of revolving lines of credit and short-term debt (75,000) (71,000)
Repayment of principal portion of finance lease liability (2,440) (2,199)
Payment of Tax Receivable Agreement 0 (38,362)
Acquisition of non-controlling interest 0 (644)
Purchase of common stock 0 (2)
Tax obligations for share-based compensation (2,582) (980)
Cash used in financing activities (321,882) (102,063)
Effect of exchange rate changes on cash 5,464 (1,615)
Net change in cash, cash equivalents, restricted cash, and cash included in advertising fund assets, restricted (3,339) (30,480)
Cash and cash equivalents, beginning of period 169,954 176,522
Cash included in advertising fund assets, restricted, beginning of period 38,930 38,537
Restricted cash, beginning of period 358 657
Cash, cash equivalents, restricted cash, and cash included in advertising fund assets, restricted, beginning of period 209,242 215,716
Cash and cash equivalents, end of period 166,131 148,814
Cash included in advertising fund assets, restricted, end of period 39,438 32,008
Restricted cash, end of period 334 4,414
Cash, cash equivalents, restricted cash, and cash included in advertising fund assets, restricted, end of period 205,903 185,236
Supplemental cash flow disclosures - non-cash items:    
Capital expenditures included in accrued expenses and other liabilities 6,418 17,891
Deferred consideration included in accrued expenses and other liabilities 1,896 1,948
Supplemental cash flow disclosures - cash paid for:    
Interest 64,762 72,561
Income taxes $ 21,236 $ 20,338