El Pollo Loco 2016 Annual Report Download - page 61

EL POLLO LOCO HOLDINGS, INC.
CONSOLIDATED STATE MENTS OF CASH FLOWS
(Amounts in thousands)

For the Years Ended
December 30,
2015
December 31,
2014
December 25,
2013
Cash flows from operating activities          
Netincome(loss)  $ 24,054  $ 42,463  $ (16,873)
Adjustmentstoreconcilechangesinnetincome(loss)tonetcashprovidedby
operatingactivities:          
Depreciationandamortization   13,092   11,538   10,213
Lossonearlyextinguishmentofdebt   —   9,718   21,530
Stock-basedcompensationexpense   539   1,093    822
Interestaccretion   —   290   3,753
Incometaxreceivableagreementexpense   156   41,382    —
Gainondispositionofrestaurants   —   (2,658 )   (400)
Lossondisposalofassets   471   646   868
Impairmentofpropertyandequipment   181   293   27
Close-storereserves   (89 )   740   (128)
Amortizationofdeferredfinancingcosts   304   1,302    2,007
Amortizationoffavorableandunfavorableleases,net   (156 )   (227 )   (213 )
Excessincometaxbenefitrelatedtoshare-basedcompensationplans   (5,420 )   (3,965 )   —
Deferredincometaxes,net   15,249   (67,001)   1,371
Changesinoperatingassetsandliabilities:         
Accountsandotherreceivables,net   (427 )   147   (1,319)
Inventories   1   (245)   33
Prepaidexpensesandothercurrentassets   2,452   (3,065 )   (123)
Incometaxesreceivable/payable   5,589   3,836   5
Otherassets   91   247   95
Accountspayable   2,317   (8,023 )   1,294
Accruedsalariesandvacation   (1,311 )   (651 )   595 
Accruedinsurance   1,203   221    444
Otheraccruedexpensesandliabilities   (325 )   (1,996 )   (4,301)
Net cash provided by operating activities  57,971  26,085  19,700
Cash flows from investing activities          
Proceedsfromdispositionofassets   —   5,435   35
Purchaseofpropertyandequipment   (30,835)   (26,836)   (13,822)
Net cash flows used in investing activities  (30,835) (21,401) (13,787 )
Cash flows from financing activities          
Proceedsfromborrowingsonrevolverandtermloans   —   165,000   288,050
Revolverloanpayments   (42,000)   —   —
Proceedsfromissuanceofcommonstockforinitialpublicoffering,netofexpenses   —   112,300   —
Proceedsfromissuanceofcommonstockuponexerciseofstockoptions   4,254   2,070   —
Paymentofcallpremiumonnotes   —    (1,526 )   (7,913)
Paymentofobligationsundercapitalleases   (208)   (268)   (229)
Repaymentsonseniorsecurednotes   —   (290,000)   (282,196)
DeferredfinancingcostsforRevolver   —   (1,526 )   (8,097)
Excessincometaxbenefitrelatedtoshare-basedcompensationplans   5,420   3,965    —
Amendmentfee   —   (215)   —
Net cash flows used in financing activities  (32,534) (10,200) (10,385 )
Decrease in cash and cash equivalents  (5,398) (5,516) (4,472 )
Cash and cash equivalents, beginning of year  11,499  17,015  21,487
Cash and cash equivalents, end of year $ 6,101 $ 11,499 $ 17,015
Supplemental cash flow information          
Cashpaidforinterest,netofcapitalizedinterest  $ 3,487   $ 20,224   $ 34,427 
Cashpaidduringtheyearforincometaxes,net  $ 18  $ 156  $ 26
Noncash investing and financing activity          
Unpaidpurchaseofpropertyandequipment  $ 3,201  $ 1,235  $ 1,139
Cashlessstockoptionexercise  $ 34  $ 27   —
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Seenotestoconsolidatedfinancialstatements.
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