Chili's 2015 Annual Report Download - page 54

Download and view the complete annual report

Please find page 54 of the 2015 Chili's annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 84

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84

BRINKER INTERNATIONAL, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
Fiscal Years
2015 2014 2013
Cash Flows from Operating Activities:
Net income ................................................... $196,694 $ 154,039 $ 163,359
Adjustments to reconcile net income to net cash provided by operating
activities:
Depreciation and amortization ................................ 145,242 136,081 131,481
Litigation reserves ......................................... 0 39,500 0
Restructure charges and other impairments ...................... 5,636 8,533 11,425
Deferred income taxes ...................................... 13,140 (23,041) (4,793)
Net loss (gain) on disposal of assets ........................... 4,523 5,161 (6,905)
Stock-based compensation ................................... 14,802 16,074 15,909
(Gain) loss on equity investments ............................. (368) (328) 851
Other .................................................... 250 707 363
Changes in assets and liabilities:
Accounts receivable .................................... 1,932 (5,372) 5,398
Inventories ........................................... 475 912 908
Prepaid expenses and other .............................. 4,368 1,827 82
Intangibles and other assets .............................. (2,140) (3,397) (4,115)
Current income taxes ................................... 6,284 14,087 749
Accounts payable ...................................... 1,117 3,756 (9,339)
Accrued liabilities ..................................... (22,595) 14,617 (9,381)
Other liabilities ........................................ (749) (3,314) (5,304)
Net cash provided by operating activities ................... 368,611 359,842 290,688
Cash Flows from Investing Activities:
Payments for property and equipment .............................. (140,262) (161,066) (131,531)
Proceeds from sale of assets ...................................... 1,950 888 17,157
Payments for purchase of restaurants ............................... 0 0 (24,622)
Insurance recoveries ............................................ 0 0 1,152
Net cash used in investing activities ....................... (138,312) (160,178) (137,844)
Cash Flows from Financing Activities:
Borrowings on revolving credit facility ............................. 480,750 120,000 110,000
Purchases of treasury stock ...................................... (306,255) (239,597) (333,384)
Payments on long-term debt ...................................... (189,177) (26,521) (316,380)
Payments on revolving credit facility .............................. (177,000) (40,000) (150,000)
Payments of dividends .......................................... (70,832) (63,395) (56,343)
Proceeds from issuances of treasury stock ........................... 16,259 29,295 41,190
Excess tax benefits from stock-based compensation ................... 15,893 18,872 8,778
Payments for deferred financing costs .............................. (2,501) 0 (5,969)
Proceeds from issuance of long-term debt ........................... 0 0 549,528
Net cash used in financing activities ....................... (232,863) (201,346) (152,580)
Net change in cash and cash equivalents ............................ (2,564) (1,682) 264
Cash and cash equivalents at beginning of year ....................... 57,685 59,367 59,103
Cash and cash equivalents at end of year ............................ $ 55,121 $ 57,685 $ 59,367
See accompanying notes to consolidated financial statements.
F-18