Jack In The Box 2015 Annual Report Download - page 50

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






Cash flows from operating activities:
Net earnings
$ 108,812
$ 88,950
$ 51,152
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization
89,468
91,384
96,219
Deferred finance cost amortization
2,309
2,175
2,277
Excess tax benefits from share-based compensation arrangements
(18,602)
(17,664)
(2,094)
Deferred income taxes
(3,191)
4,152
(18,604)
Share-based compensation expense
12,420
10,358
11,392
Pension and postretirement expense
18,749
13,760
31,147
Losses (gains) on cash surrender value of company-owned life insurance
1,240
(6,049)
(8,998)
Losses (gains) on the sale of company-operated restaurants
3,139
3,548
(4,640)
Losses on the disposition of property and equipment
1,847
1,680
789
Impairment charges and other
6,815
10,434
30,785
Loss on early retirement of debt
—
789
939
Changes in assets and liabilities, excluding acquisitions and dispositions:
Accounts and other receivables
(82)
19,589
33,994
Inventories
105
(300)
27,415
Prepaid expenses and other current assets
35,255
14,051
15,211
Accounts payable
2,281
(627)
(26,945)
Accrued liabilities
798
7,140
(10,560)
Pension and postretirement contributions
(25,374)
(25,349)
(23,886)
Other
(9,114)
(16,999)
(6,721)
Cash flows provided by operating activities
226,875
201,022
198,872
Cash flows from investing activities:
Purchases of property and equipment
(86,226)
(60,525)
(84,690)
Purchases of assets intended for sale and leaseback
(10,396)
(2,801)
(26,058)
Proceeds from sale and leaseback of assets
—
5,698
47,431
Proceeds from the sale of company-operated restaurants
3,951
10,536
30,619
Collections on notes receivable
5,917
2,974
6,448
Acquisition of franchise-operated restaurants
—
(1,750)
(12,064)
Other
2,281
2,889
4,375
Cash flows used in investing activities
(84,473)
(42,979)
(33,939)
Cash flows from financing activities:
Borrowings on revolving credit facilities
857,000
652,000
646,000
Repayments of borrowings on revolving credit facilities
(768,000)
(521,000)
(721,000)
Proceeds from issuance of debt
300,000
200,000
200,000
Principal repayments on debt
(198,397)
(193,399)
(175,946)
Debt issuance costs
(2,030)
(3,607)
(4,392)
Dividends paid on common stock
(37,390)
(15,808)
—
Proceeds from issuance of common stock
15,170
31,748
61,993
Repurchases of common stock
(320,163)
(323,866)
(132,833)
Excess tax benefits from share-based compensation arrangements
18,602
17,664
2,094
Change in book overdraft
—
(848)
(39,678)
Cash flows used in financing activities
(135,208)
(157,116)
(163,762)
Effect of exchange rate changes on cash and cash equivalents
(29)
7
4
Net increase in cash and cash equivalents
7,165
934
1,175
Cash and cash equivalents at beginning of year
10,578
9,644
8,469
Cash and cash equivalents at end of year
$ 17,743
$ 10,578
$ 9,644
See accompanying notes to consolidated financial statements.