Open the filing on EDGARDomino’s Pizza® Announces First Quarter 2026 Financial Results
Global retail sales growth (excluding foreign currency impact) of 3.4%
U.S. same store sales growth of 0.9%
International same store sales decline (excluding foreign currency impact) of 0.4%
Global net store growth of 180, including 19 net store openings in the U.S. and 161 net store openings internationally
Income from operations increased 9.6%; excluding the $3.6 million positive impact of foreign currency exchange rates on international franchise royalty revenues, income from operations increased 7.9%
Board of Directors approves additional $1.0 billion share repurchase program
ANN ARBOR, Michigan, April 27, 2026: Domino’s Pizza, Inc. (Nasdaq: DPZ), the largest pizza company in the world, announced results for the first quarter of 2026.
“Q1 2026 represented another quarter of positive order count and market share growth for Domino’s in the U.S.,” said Russell Weiner, Domino’s Chief Executive Officer. “In an intensifying macro and competitive environment, our scale advantage and best-in-class store level profitability uniquely position Domino’s in the QSR Pizza category to sustain the value and innovation customers demand. My belief that we can continue to outperform our competition and take meaningful share in 2026 and beyond remains as strong as it has ever been. This is how we will deliver long-term value for our franchisees and shareholders.”
First Quarter of 2026 Operational and Financial Highlights (Unaudited):
The tables below outline certain statistical measures utilized by the Company to analyze its performance, as well as key financial results. This historical data is not necessarily indicative of results to be expected for any future period. Refer to Comments on Regulation G below for additional details, including definitions of these statistical measures and certain reconciliations.
| First Quarter |
|---|
| 2026 | 2025 |
|---|
| Global retail sales: (in millions of U.S. dollars) | | |
| U.S. stores | $2,302.6 | $2,240.8 |
| International stores | 2,437.1 | 2,223.5 |
| Total | $4,739.7 | $4,464.3 |
| First Quarter |
|---|
| 2026 | 2025 |
|---|
| Global retail sales growth: (versus prior year period, excluding foreign currency impact) | | |
| U.S. stores | + 2.8% | + 1.3% |
| International stores | + 4.0% | + 8.2% |
| Total | + 3.4% | + 4.7% |
| First Quarter |
|---|
| 2026 | 2025 |
|---|
| Same store sales growth: (versus prior year period) | | |
| U.S. Company-owned stores | + 1.5% | (2.9)% |
| U.S. franchise stores | + 0.8% | (0.4)% |
| U.S. stores | + 0.9% | (0.5)% |
| International stores (excluding foreign currency impact) | (0.4)% | + 3.7% |
| U.S. Company- owned Stores | U.S. Franchise Stores | Total U.S. Stores | International Stores | Total |
|---|
| First quarter of 2026 store counts: | | | | | |
| Store count at December 28, 2025 | 262 | 6,924 | 7,186 | 14,956 | 22,142 |
| Openings | 1 | 20 | 21 | 212 | 233 |
| Closings | (1) | (1) | (2) | (51) | (53) |
| Store count at March 22, 2026 | 262 | 6,943 | 7,205 | 15,117 | 22,322 |
| First quarter 2026 net store growth | - | 19 | 19 | 161 | 180 |
| Trailing four quarters net store growth | 5 | 169 | 174 | 790 | 964 |
| First Quarter |
|---|
| (In millions, except percentages, percentage points, per share data and leverage ratio) | 2026 | 2025 | Increase/ (Decrease) |
| Total revenues | $1,150.6 | $1,112.1 | + 3.5% |
| Supply chain gross margin | 12.2% | 11.6% | + 0.6 pp |
| Income from operations | $230.4 | $210.1 | + 9.6% |
| Net income | $139.8 | $149.7 | (6.6)% |
| Diluted earnings per share | $4.13 | $4.33 | (4.6)% |
| Leverage ratio | 4.3x | 4.9x | (0.6)x |
| Net cash provided by operating activities | $162.0 | $179.1 | (9.5)% |
| Capital expenditures | (15.0) | (14.7) | + 2.0% |
| Free cash flow | $147.0 | $164.4 | (10.6)% |
Revenues increased $38.5 million, or 3.5%, in the first quarter of 2026 as compared to the first quarter of 2025, primarily due to higher supply chain revenues and higher global franchise royalties and advertising revenues. The increase in supply chain revenues was primarily attributable to an increase in the Company’s food basket pricing to stores, which increased 2.6% in the first quarter of 2026 as compared to the first quarter of 2025. Higher order volumes also contributed to the increase in supply chain revenues. These increases were partially offset by a shift in the relative mix of products sold by the Company. The increases in U.S. franchise royalties and advertising revenues were driven primarily by net store growth during the trailing four quarters and higher same store sales. International franchise royalties increased primarily due to the positive impact of foreign currency exchange rates on international franchise royalty revenues of $3.6 million, as well as net store growth during the trailing four quarters.
Supply chain gross margin increased 0.6 percentage points in the first quarter of 2026 as compared to the first quarter of 2025, primarily due to procurement productivity, partially offset by an increase in the cost of the Company’s food basket.
Income from operations increased $20.3 million, or 9.6%, in the first quarter of 2026 as compared to the first quarter of 2025. Excluding the positive impact of foreign currency exchange rates on international franchise royalty revenues of $3.6 million, income from operations increased $16.7 million, or 7.9%, primarily due to higher U.S. and international franchise royalties and fees and gross margin dollar growth within supply chain. A $7.8 million pre-tax realized gain on the sale of the Company’s fully depreciated corporate aircraft in the first quarter of 2026 also contributed to the increase in income from operations.
Net income decreased $9.8 million, or 6.6%, in the first quarter of 2026 as compared to the first quarter of 2025, primarily due to an unfavorable change of $30.0 million in the pre-tax unrealized losses and gains associated with the remeasurement of the Company’s investment in DPC Dash Ltd (“DPC Dash”). This decrease was partially offset by higher income from operations.
Diluted EPS was $4.13 in the first quarter of 2026 as compared to $4.33 in the first quarter of 2025, representing a $0.20, or 4.6%, decrease. The decrease in diluted EPS was driven by lower net income. This decrease was partially offset by a lower weighted average diluted share count, resulting from the Company’s share repurchases during the trailing four quarters.
Net cash provided by operating activities was $162.0 million in the first quarter of 2026 as compared to $179.1 million in the first quarter of 2025. The Company spent $15.0 million on capital expenditures in the first quarter of 2026 as compared to $14.7 million in the first quarter of 2025, resulting in free cash flow of $147.0 million in the first quarter of 2026 as compared to $164.4 million in the first quarter of 2025. The decrease in free cash flow was a result of the negative impact of changes in operating assets and liabilities, partially offset by the increase in income from operations (excluding the pre-tax realized gain on the sale of the Company’s fully depreciated corporate aircraft).
Quarterly Dividend
Subsequent to the end of the first quarter of 2026, on April 21, 2026, the Company’s Board of Directors declared a $1.99 per share quarterly dividend on its outstanding common stock for shareholders of record as of June 15, 2026 to be paid on June 30, 2026.
Share Repurchases
During the first quarter of 2026, the Company repurchased and retired 188,304 shares of common stock for a total of $75.1 million. As of March 22, 2026, the Company had a total remaining authorized amount for share repurchases of $384.6 million. Subsequent to the end of the first quarter of 2026 and through April 21, 2026, the Company repurchased and retired an additional 257,545 shares of common stock for a total of $94.4 million.
Subsequent to the end of the first quarter of 2026, on April 21, 2026, the Company’s Board of Directors authorized an additional share repurchase program to repurchase up to $1.0 billion of the Company’s common stock, in addition to the $290.2 million that was previously remaining for a total authorization of $1.29 billion for future share repurchases. Authorization for the repurchase program may be modified, suspended, or discontinued at any time. The repurchase of shares in any particular period and the actual amount of such purchases remain at the discretion of the Board of Directors, and no assurance can be given that shares will be repurchased in the future.
Comments on Regulation G
In addition to the GAAP financial measures set forth in this press release, the Company has included non-GAAP financial measures within the meaning of Regulation G, including free cash flow, income from operations, excluding foreign currency impact and Consolidated Adjusted EBITDA. The Company has also included metrics such as global retail sales, global retail sales growth (excluding foreign currency impact), same store sales growth, net store growth, food basket pricing change, impact of changes in foreign currency exchange rates on international franchise royalty revenues and the leverage ratio, which are commonly used statistical measures in the quick-service restaurant industry that are important to understanding Company performance.
The Company uses “global retail sales,” a statistical measure, to refer to total worldwide retail sales at Company-owned and franchise stores. The Company believes global retail sales information is useful in analyzing revenues because franchisees pay royalties and advertising fees that are based on a percentage of franchise retail sales. The Company reviews comparable industry global retail sales information to assess business trends and to track the growth of the Domino’s Pizza brand and believes they are indicative of the financial health of the Company’s franchisee base. In addition, supply chain revenues are directly impacted by changes in franchise retail sales in the U.S. and Canada. As a result, sales by Domino’s franchisees have a direct effect on the Company’s profitability. Retail sales for franchise stores are reported to the Company by its franchisees and are not included in Company revenues. “Global retail sales growth” is calculated as the change of U.S. Dollar global retail sales against the comparable period of the prior year. “Global retail sales growth, excluding foreign currency impact” is calculated as the change of international local currency global retail sales against the comparable period of the prior year. Changes in global retail sales growth, excluding foreign currency impact, are primarily driven by same store sales growth and net store growth.
The Company uses “same store sales growth,” a statistical measure, which is calculated by including only retail sales from stores that also had sales in the comparable weeks of both periods. International same store sales growth is calculated similarly to U.S. same store sales growth. Changes in international same store sales are reported excluding foreign currency impacts, which reflect changes in international local currency sales. Same store sales growth for transferred stores is reflected in their current classification.
The Company uses “net store growth,” a statistical measure, which is calculated by netting gross store openings with gross store closures during the period. Transfers between Company-owned stores and franchised stores are excluded from the calculation of net store growth.
The Company uses “food basket pricing change,” a statistical measure, which is calculated as the percentage change of the food basket (including both food and cardboard products) purchased by an average U.S. store (based on average weekly unit sales) from U.S. supply chain centers against the comparable period of the prior year. The Company believes that the food basket pricing change is important to investors and other interested persons to understand the Company’s performance. As food basket prices fluctuate, revenues, cost of sales and gross margin percentages in the Company’s supply chain segment also fluctuate. Additionally, cost of sales, gross margins and gross margin percentages for the Company’s U.S. Company-owned stores also fluctuate.
The Company uses “free cash flow,” which is calculated as net cash provided by operating activities, less capital expenditures, both as reported under GAAP. The most directly comparable financial measure calculated and presented in accordance with GAAP is net cash provided by operating activities. The Company believes that the free cash flow measure is important to investors and other interested persons, and that such persons benefit from having a measure which communicates how much cash flow is available for working capital needs or to be used for repurchasing debt, making acquisitions, repurchasing common stock or paying dividends.
The Company uses “income from operations, excluding foreign currency impact,” which is calculated as income from operations as reported under GAAP, less the “impact of changes in foreign currency exchange rates on international franchise royalty revenues,” a statistical measure. The most directly comparable financial measure calculated and presented in accordance with GAAP is income from operations. The impact of changes in foreign currency exchange rates on international franchise royalty revenues is calculated as the difference in international franchise royalty revenues resulting from translating current period local currency results to U.S. dollars at current period exchange rates as compared to prior period exchange rates. The Company believes that the impact of changes in foreign currency exchange rates on international franchise royalty revenues is important to investors and other interested persons to understand the Company’s international royalty revenues given the significant variability in those revenues and that can be driven by changes in foreign currency exchanges rates. International franchise royalty revenues do not have a cost of sales component, so changes in these revenues have a direct impact on income from operations.
The Company uses “Consolidated Adjusted EBITDA,” which is calculated as income from operations as reported under GAAP, excluding depreciation and amortization, non-cash equity-based compensation expense, gains and losses from the sale and disposal of assets and refranchising gains and losses, each as reported under GAAP. Consolidated Adjusted EBITDA is defined in the base indenture governing the Company’s securitized debt and is used by the Company and investors to calculate the leverage ratio (defined below), and other ratios defined in the indenture governing the Company’s securitized debt. As such, Consolidated Adjusted EBITDA is important to investors and other interested persons to understand the financial performance of the Company, and to assess the ability of the Company to meet its financial obligations.
The Company uses the “leverage ratio,” which is calculated as the Company’s securitized debt related to its fixed-rate notes and borrowings under its variable funding notes, divided by Consolidated Adjusted EBITDA on a trailing four quarters basis. The Company has historically operated with a leverage ratio between four and six times. The Company reviews its leverage ratio on at least a quarterly basis and believes its leverage ratio is important to investors and other interested persons to understand the capital structure of the Company, and to assess the ability of the Company to meet its financial obligations.
The reconciliation of the leverage ratio for the first quarters of 2026 and 2025 is as follows below.
| March 22, 2026 | March 23, 2025 |
|---|
| 2015 Ten-Year Notes | $ - | $742,000 |
| 2017 Ten-Year Notes | 940,000 | 940,000 |
| 2018 7.5-Year Notes | - | 402,688 |
| 2018 9.25-Year Notes | 379,000 | 379,000 |
| 2019 Ten-Year Notes | 648,000 | 648,000 |
| 2021 7.5-Year Notes | 826,625 | 826,625 |
| 2021 Ten-Year Notes | 972,500 | 972,500 |
| 2025 Five-Year Notes | 500,000 | - |
| 2025 Seven-Year Notes | 500,000 | - |
| Total fixed-rate notes | $4,766,125 | $4,910,813 |
| Income from operations - first quarter of 2026 and 2025 | $230,357 | $210,095 |
| Income from operations - fourth quarter of 2025 and 2024 | 295,667 | 273,652 |
| Income from operations - third quarter of 2025 and 2024 | 223,168 | 198,831 |
| Income from operations - second quarter of 2025 and 2024 | 225,044 | 196,103 |
| Income from operations - trailing four quarters | $974,236 | $878,681 |
| Depreciation and amortization - trailing four quarters | $88,899 | $88,225 |
| Non-cash equity-based compensation expense - trailing four quarters | 43,048 | 42,298 |
| Refranchising (gain) loss - trailing four quarters | (4,028) | 25 |
| Gain on sale of assets - trailing four quarters | (7,780) | - |
| Loss on disposal of assets - trailing four quarters | 1,946 | 1,704 |
| Reconciliation of income from operations to Consolidated Adjusted EBITDA - trailing four quarters | $122,085 | $132,252 |
| Consolidated Adjusted EBITDA - trailing four quarters | $1,096,321 | $1,010,933 |
| Leverage ratio | 4.3x | 4.9x |
- The Company also calculates and reviews its Senior Leverage Ratio and Holdco Leverage Ratio as defined in the indenture governing the Company’s securitized debt.
Conference Call Information
The Company will file its Quarterly Report on Form 10-Q today. As previously announced, Domino’s Pizza, Inc. will hold a conference call today at 8:30 a.m. (Eastern) to review its first quarter 2026 financial results. The webcast is available at ir.dominos.com and will be archived for one year.
About Domino’s Pizza®
Founded in 1960, Domino’s Pizza is the largest pizza company in the world, with a significant business in both delivery and carryout. It ranks among the world’s top public restaurant brands with a global enterprise of more than 22,300 stores in over 90 markets. Domino’s had global retail sales of over $20.4 billion in the trailing four quarters ended March 22, 2026. Its system is comprised of independent franchise owners who accounted for 99% of Domino’s stores as of the end of the first quarter of 2026. In the U.S., Domino’s generated more than 85% of U.S. retail sales in 2025 via digital channels and has developed many innovative ordering platforms.
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SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995:
Forward-looking statements notice
This press release contains various forward-looking statements about the Company within the meaning of the Private Securities Litigation Reform Act of 1995 (the “Act”) that are based on current management expectations that involve substantial risks and uncertainties which could cause actual results to differ materially from the results expressed in, or implied by, these forward-looking statements. The following cautionary statements are being made pursuant to the provisions of the Act and with the intention of obtaining the benefits of the “safe harbor” provisions of the Act. You can identify forward-looking statements by the use of words such as “anticipates,” “believes,” “could,” “should,” “estimates,” “expects,” “intends,” “may,” “will,” “plans,” “predicts,” “projects,” “seeks,” “approximately,” “potential,” “outlook” and similar terms and phrases that concern our strategy, plans or intentions, including references to assumptions. These forward-looking statements address various matters including information concerning future results of operations and business strategy, our anticipated profitability, estimates in same store sales growth, store growth and the growth of our U.S. and international business in general, our ability to service our indebtedness, our future cash flows, our operating performance, trends in our business and other descriptions of future events reflect the Company’s expectations based upon currently available information and data. While we believe these expectations and projections are based on reasonable assumptions, such forward-looking statements are inherently subject to risks, uncertainties and assumptions. Important factors that could cause actual results to differ materially from our expectations are more fully described in our filings with the Securities and Exchange Commission, including under the section headed “Risk Factors” in our Annual Report on Form 10-K for the fiscal year ended December 28, 2025. Actual results may differ materially from those expressed or implied in the forward-looking statements as a result of various factors, including but not limited to: our substantial indebtedness and our ability to incur additional indebtedness or refinance or renegotiate key terms of that indebtedness in the future; the impact a downgrade in our credit rating may have on our business, financial condition and results of operations; our future financial performance and our ability to pay principal and interest on our indebtedness; the strength of our brand, including our ability to compete in the U.S. and internationally in our intensely competitive industry, including the food service and food delivery markets; our ability to successfully implement our growth strategy, including through our participation in the third-party order aggregation marketplace; labor shortages or changes in operating expenses resulting from increases in prices of food (particularly cheese), fuel and other commodity costs, labor, utilities, insurance, employee benefits and other operating costs or negative economic conditions; the effectiveness of our advertising, operations and promotional initiatives; shortages, interruptions or disruptions in the supply or delivery of fresh food products and store equipment; the additional risks our international operations subject us to, which may differ in each country in which we and our franchisees do business; the dependence of our earnings and business growth strategy on the success of our franchisees; our ability and that of our franchisees to successfully operate in the current and future credit environment; the impact of social media, the rise of artificial intelligence-generated content, or a boycott on our business, brand and reputation; the impact of new or improved technologies, including artificial intelligence, and alternative methods of delivery on consumer behavior; new product, digital ordering and concept developments by us, and other food-industry competitors; our ability to maintain good relationships with and attract new franchisees, and franchisees’ ability to successfully manage their operations without negatively impacting our royalty payments and fees or our brand’s reputation; our ability to successfully implement cost-saving strategies; changes in the level of consumer spending given general economic conditions, including interest rates, energy prices and consumer confidence or negative economic conditions in general; our ability and that of our franchisees to open new restaurants and keep existing restaurants in operation and maintain demand for new stores; the impact that widespread illness, health epidemics or general health concerns, severe weather conditions and natural disasters may have on our business and the economies of the countries where we operate; changes in foreign currency exchange rates; changes in income tax rates; our ability to retain or replace our executive officers and other key members of management and our ability to adequately staff our stores and supply chain centers with qualified personnel; our ability to find and/or retain suitable real estate for our stores and supply chain centers; changes in government legislation or regulation, including changes in laws and regulations regarding information privacy, payment methods, advertising and consumer protection and social media; adverse legal judgments or settlements; food-borne illness or contamination of products or food tampering or other events that may impact our reputation; data breaches, power loss, technological failures, user error or other cyber risks threatening us or our franchisees; the impact that environmental, social and governance matters may have on our business and reputation; the effect of war, terrorism, catastrophic events, geopolitical or reputational considerations or climate change; our ability to pay dividends and repurchase shares; changes in consumer tastes, spending and traffic patterns and demographic trends; changes in accounting policies; and adequacy of our insurance coverage. In light of these risks, uncertainties and assumptions, the forward-looking events discussed in this press release might not occur. All forward-looking statements speak only as of the date of this press release and should be evaluated with an understanding of their inherent uncertainty. Except as required under federal securities laws and the rules and regulations of the Securities and Exchange Commission, or other applicable law, we will not undertake, and specifically disclaim, any obligation to publicly update or revise any forward-looking statements to reflect events or circumstances arising after the date of this press release, whether as a result of new information, future events or otherwise. You are cautioned not to place undue reliance on the forward-looking statements included in this press release or that may be made elsewhere from time to time by, or on behalf of, us. All forward-looking statements attributable to us are expressly qualified by these cautionary statements.
TABLES TO FOLLOW
Domino’s Pizza, Inc. and Subsidiaries
Condensed Consolidated Statements of Income
| Fiscal Quarter Ended |
|---|
| March 22, 2026 | % of Total Revenues | March 23, 2025 | % of Total Revenues |
|---|
| (In thousands, except share and per share data) | | | | |
| Revenues: | | | | |
| U.S. Company-owned stores | $82,098 | | $91,598 | |
| U.S. franchise royalties and fees | 158,014 | | 151,000 | |
| Supply chain | 698,973 | | 669,924 | |
| International franchise royalties and fees | 80,980 | | 75,559 | |
| U.S. franchise advertising | 130,529 | | 123,975 | |
| Total revenues | 1,150,594 | 100.0% | 1,112,056 | 100.0% |
| Cost of sales: | | | | |
| U.S. Company-owned stores | 72,046 | | 76,911 | |
| Supply chain | 614,036 | | 591,998 | |
| Total cost of sales | 686,082 | 59.6% | 668,909 | 60.2% |
| Gross margin | 464,512 | 40.4% | 443,147 | 39.8% |
| General and administrative | 111,406 | 9.7% | 109,077 | 9.8% |
| U.S. franchise advertising | 130,529 | 11.4% | 123,975 | 11.1% |
| Gain on sale of assets | (7,780) | (0.7)% | - | - |
| Income from operations | 230,357 | 20.0% | 210,095 | 18.9% |
| Other (expense) income | (5,990) | (0.5)% | 24,027 | 2.2% |
| Interest expense, net | (43,725) | (3.8)% | (41,640) | (3.8)% |
| Income before provision for income taxes | 180,642 | 15.7% | 192,482 | 17.3% |
| Provision for income taxes | 40,831 | 3.5% | 42,831 | 3.8% |
| Net income | $139,811 | 12.2% | $149,651 | 13.5% |
| Earnings per share: | | | | |
| Common stock - diluted | $4.13 | | $4.33 | |
| Weighted average diluted shares | 33,815,028 | | 34,553,820 | |
Domino’s Pizza, Inc. and Subsidiaries
Condensed Consolidated Balance Sheets
| March 22, 2026 | December 28, 2025 |
|---|
| (In thousands) | | |
| Assets | | |
| Current assets: | | |
| Cash and cash equivalents | $232,922 | $125,675 |
| Restricted cash and cash equivalents | 183,628 | 216,110 |
| Accounts receivable, net | 306,098 | 315,958 |
| Inventories | 69,154 | 79,189 |
| Prepaid expenses and other | 41,377 | 39,767 |
| Advertising fund assets, restricted | 115,814 | 117,502 |
| Total current assets | 948,993 | 894,201 |
| Property, plant and equipment, net | 386,730 | 324,022 |
| Operating lease right-of-use assets | 238,908 | 219,485 |
| Investment in DPC Dash | 30,080 | 36,070 |
| Other assets | 239,777 | 242,681 |
| Total assets | $1,844,488 | $1,716,459 |
| Liabilities and stockholders’ deficit | | |
| Current liabilities: | | |
| Current portion of long-term debt | $7,411 | $6,131 |
| Accounts payable | 124,376 | 135,029 |
| Operating lease liabilities | 49,490 | 47,553 |
| Advertising fund liabilities | 113,449 | 115,412 |
| Other accrued liabilities | 297,274 | 237,496 |
| Total current liabilities | 592,000 | 541,621 |
| Long-term liabilities: | | |
| Long-term debt, less current portion | 4,876,122 | 4,810,683 |
| Operating lease liabilities | 202,750 | 183,917 |
| Other accrued liabilities | 80,389 | 81,380 |
| Total long-term liabilities | 5,159,261 | 5,075,980 |
| Total stockholders’ deficit | (3,906,773) | (3,901,142) |
| Total liabilities and stockholders’ deficit | $1,844,488 | $1,716,459 |
Domino’s Pizza, Inc. and Subsidiaries
Condensed Consolidated Statements of Cash Flows
| Fiscal Quarter Ended |
|---|
| March 22, 2026 | March 23, 2025 |
|---|
| (In thousands) | | |
| Cash flows from operating activities: | | |
| Net income | $139,811 | $149,651 |
| Adjustments to reconcile net income to net cash provided by operating activities: | | |
| Depreciation and amortization | 20,434 | 20,362 |
| Gain on sale of assets | (7,780) | - |
| Loss on disposal of assets | 357 | 266 |
| Amortization of debt issuance costs | 1,485 | 1,210 |
| Provision (benefit) for deferred income taxes | 3,319 | (2,290) |
| Non-cash equity-based compensation expense | 8,789 | 10,381 |
| Excess tax benefits from equity-based compensation | (463) | (1,569) |
| Provision (benefit) for losses on accounts and notes receivable | 44 | (57) |
| Unrealized loss (gain) on investments, net | 5,990 | (24,027) |
| Changes in operating assets and liabilities | (370) | 34,244 |
| Changes in advertising fund assets and liabilities, restricted | (9,661) | (9,095) |
| Net cash provided by operating activities | 161,955 | 179,076 |
| Cash flows from investing activities: | | |
| Capital expenditures | (15,043) | (14,745) |
| Proceeds from sale of assets | 7,780 | - |
| Other | (804) | (1,225) |
| Net cash used in investing activities | (8,067) | (15,970) |
| Cash flows from financing activities: | | |
| Repayments of long-term debt and finance lease obligations | (840) | (646) |
| Proceeds from exercise of stock options | 1,892 | 7,529 |
| Purchases of common stock | (75,098) | (50,000) |
| Tax payments for restricted stock upon vesting | (12,895) | (8,158) |
| Payments of common stock dividends and equivalents | (1,459) | (617) |
| Net cash used in financing activities | (88,400) | (51,892) |
| Effect of exchange rate changes on cash | (108) | 296 |
| Change in cash and cash equivalents, restricted cash and cash equivalents | 65,380 | 111,510 |
| Cash and cash equivalents, beginning of period | 125,675 | 186,126 |
| Restricted cash and cash equivalents, beginning of period | 216,110 | 195,370 |
| Cash and cash equivalents included in advertising fund assets, restricted, beginning of period | 92,200 | 80,928 |
| Cash and cash equivalents, restricted cash and cash equivalents and cash and cash equivalents included in advertising fund assets, restricted, beginning of period | 433,985 | 462,424 |
| Cash and cash equivalents, end of period | 232,922 | 304,320 |
| Restricted cash and cash equivalents, end of period | 183,628 | 197,412 |
| Cash and cash equivalents included in advertising fund assets, restricted, end of period | 82,815 | 72,202 |
| Cash and cash equivalents, restricted cash and cash equivalents and cash and cash equivalents included in advertising fund assets, restricted, end of period | $499,365 | $573,934 |
Contacts
Greg Lemenchick Vice President - Investor Relationsinvestorrelations@dominos.com