Company: JACK
Filing Date: 2025-11-19
Form Type: 10-K
Source: 0000807882-25-000072
Chunk: 72

Company: JACK IN THE BOX INC
Filing Date: 2025-11-19
Form: 10-K
Item: Item 7
Chunk 72
---
 in our business and service our debt obligations.

As of September 28, 2025, the Company had $81.8 million of cash and restricted cash on its consolidated balance sheet and available borrowings of $96.8 million under our $150.0 million Variable Funding Notes. The Company continually assesses the optimal sources and uses of cash for our business. We review our balance sheet for any undervalued assets and pursue opportunities for capital sources, including the sale of our owned properties and potential for refranchising.

Based upon current levels of operations and anticipated growth, we expect that cash flows from operations, combined with our securitized financing facility and revolving credit facility, will be sufficient to meet our capital expenditure, working capital and debt service requirements for at least the next twelve months and the foreseeable future.

Cash Flows

The table below summarizes our cash flows for each of the last two fiscal years (in thousands):

20252024Total cash provided by (used in):Operating activities$162,358 $68,816 Investing activities(74,686)(69,371)Financing activities(60,026)(131,185)Net cash flows$27,646 $(131,740)

Operating Activities. Operating cash flows increased $93.5 million compared with a year ago. This increase is primarily due to favorable changes in working capital of $134.4 million, partially offset by lower net income, when adjusted for non-cash items, of $40.9 million. The change in working capital is primarily a result of $50.3 million paid in 2024 for fiscal 2023 income tax payment deferred in connection with the Southern California winter storm disaster area declaration, $35.0 million received in the current year in connection with a new supply chain contract, and $25.5 million paid in 2024 in connection with the Torrez settlement.

Investing Activities. Cash flows used in investing activities increased $5.3 million compared with a year ago. This increase was primarily due to a reduction in proceeds from the sale of company operated restaurants of $13.0 million and the acquisition of franchise operated restaurants of for $7.2 million, partially offset by a decrease in the purchase of assets intended for sale or leaseback of $15.5 million. 

35

Capital Expenditures — The composition of capital expenditures in each fiscal year is summarized in the table below (in thousands):

20252024Restaurants:Remodel / refresh programs$8,