Company: JACK
Filing Date: 2025-02-25
Form Type: 10-Q
Source: 0000807882-25-000016
Chunk: 49

Company: JACK IN THE BOX INC
Filing Date: 2025-02-25
Form: 10-Q
Item: Item 1
Chunk 49
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in thousands):

Sixteen Weeks EndedJanuary 19,2025January 21,2024Restaurants:Remodel / refresh programs$2,700 $3,240 New restaurants5,573 5,960 Restaurant facility expenditures5,850 6,309 Purchases of assets intended for sale8,850 14,054 Restaurant information technology10,848 5,212 33,821 34,775 Corporate Services:Information technology1,078 3,991 Corporate facilities200 63 1,278 4,054 Total capital expenditures$35,099 $38,829 

Capital expenditures decreased $3.7 million primarily due to a decrease in the number of properties acquired with intent of  selling to franchisees or selling and leasing back, and a decrease in corporate technology spending due to the completion of our new enterprise resource planning software implementation last year. These decreases were partially offset by an increase in restaurant technology expenditures related to the rollout of a new POS system for company restaurants and investments in digital and other restaurant technology enhancements.

27

Sale of Company-Operated Restaurants — The following table details proceeds received in connection with our refranchising activities in each period (dollars in thousands).

Sixteen Weeks EndedJanuary 19,2025January 21,2024Number of Del Taco restaurants sold to franchisees13 — Total proceeds$5,712 $1,739 

For further information, see Note 3, Summary of Refranchisings and Assets Held for Sale, in the notes to the condensed consolidated financial statements.

Financing Activities. Cash flows used in financing activities decreased by $15.0 million compared with a year ago. The change is primarily due to a $20.0 million decrease in stock repurchases compared with a year ago, partially offset by a $6.0 million repayment in the current year on the Variable Funding Notes.

Repurchases of common stock — The Company repurchased 0.1 million shares of its common stock in fiscal 2025 for an aggregate cost of $5.0 million. As of January 19, 2025, there was $175.0 million remaining under share repurchase programs authorized by the Board of Directors which does not expire.

Dividends — Up through January 19, 2025, the Board of Directors declared one cash dividends of $0.44 per common share totaling $8.4 million. 

On February 21, 2025