0000049754-23-000004 | 10-K | XBRL Viewer

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Cover page - USD ($) $ in Billions	12 Months Ended
Cover page - USD ($) $ in Billions	Dec. 31, 2022	Feb. 21, 2023	Jun. 30, 2022
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2022
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-15283
Entity Registrant Name	Dine Brands Global, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	95-3038279
Entity Address, Address Line One	450 North Brand Boulevard,
Entity Address, City or Town	Glendale,
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	91203-2346
City Area Code	(818)
Local Phone Number	240-6055
Title of 12(b) Security	Common Stock, $0.01 par value
Trading Symbol	DIN
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Smaller Company	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 1.0
Entity Common Stock, Shares Outstanding		15,608,131
Documents Incorporated by Reference	Portions of the Proxy Statement for the Annual Meeting of Stockholders to be held on Thursday, May 11, 2023 are incorporated by reference into Part III of this Annual Report on Form 10-K where indicated. Except as expressly incorporated by reference, the registrant’s Proxy Statement shall not be deemed to be part of this report.
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Amendment Flag	false
Entity Central Index Key	0000049754

Audit Information	12 Months Ended
Audit Information	Dec. 31, 2022
Auditor Information [Abstract]
Auditor Firm ID	42
Auditor Name	ERNST & YOUNG LLP
Auditor Location	Los Angeles, California

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 269,655	$ 361,412
Receivables, net of allowance of $4,806 (2022) and $4,959 (2021)	119,981	119,968
Restricted cash	38,929	47,541
Prepaid gift card costs	30,235	28,175
Prepaid income taxes	3,063	10,529
Other current assets	17,901	6,728
Total current assets	479,764	574,353
Other intangible assets, net	597,028	539,390
Operating lease right-of-use assets	289,123	335,428
Goodwill	253,956	251,628
Property and equipment, net	145,277	179,411
Deferred rent receivable	42,329	50,257
Long-term receivables, net of allowance of $5,529 (2022) and $6,897 (2021)	39,697	42,493
Non-current restricted cash	16,400	16,400
Other non-current assets, net	17,917	10,006
Total assets	1,881,491	1,999,366
Current liabilities:
Current maturities of long-term debt	100,000	0
Accounts payable	52,067	55,956
Gift card liability	171,966	165,530
Current maturities of operating lease obligations	59,071	72,079
Current maturities of finance lease and financing obligations	7,542	10,693
Accrued employee compensation and benefits	23,456	40,785
Accrued advertising expenses	24,157	33,752
Dividends payable	8,017	6,919
Other accrued expenses	24,446	25,016
Total current liabilities	470,722	410,730
Long-term debt, net, less current maturities	1,241,914	1,279,623
Operating lease obligations, less current maturities	275,120	320,848
Finance lease obligations, less current maturities	30,377	59,625
Financing obligations, less current maturities	28,358	31,967
Deferred income taxes, net	74,651	76,228
Deferred franchise revenue, long-term	42,343	46,100
Other non-current liabilities	19,090	17,052
Total liabilities	2,182,575	2,242,173
Commitments and contingencies
Stockholders' deficit:
Preferred stock, $1 par value, 10,000,000 shares authorized, no shares issued and outstanding	0	0
Common stock, $0.01 par value; shares: 40,000,000 authorized; 2022 -24,959,972 issued, 15,599,239 outstanding; 2021 - 24,992,275 issued, 17,163,946 outstanding	250	250
Additional paid-in-capital	259,339	256,189
Retained earnings	84,538	35,415
Accumulated other comprehensive loss	(65)	(59)
Treasury stock, at cost; shares: 2022 - 9,360,733; 2021 - 7,828,329	(645,146)	(534,602)
Total stockholders' deficit	(301,084)	(242,807)
Total liabilities and stockholders' deficit	$ 1,881,491	$ 1,999,366

Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Receivables, allowance for credit loss	$ 4,806	$ 4,959
Long-term receivables, allowance for credit loss	$ 5,529	$ 6,897
Preferred stock, par value (in dollars per share)	$ 1	$ 1
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	40,000,000	40,000,000
Common stock, shares issued (in shares)	24,959,972	24,992,275
Common stock, shares outstanding (in shares)	15,599,239	17,163,946
Treasury stock, shares (in shares)	9,360,733	7,828,329

Consolidated Statements of Comprehensive Income (Loss) - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Revenues:
Rental revenues	$ 116,491	$ 113,933	$ 105,939
Total revenues	909,402	896,167	689,268
Cost of revenues:
Franchise expenses	321,908	295,887	238,972
Bad debt expense (credit)	261	(4,928)	12,756
Company restaurant expenses	121,722	136,748	111,550
Interest expense from finance leases	2,962	3,446	4,563
Other rental expenses	85,033	84,397	84,939
Total rental expenses	87,995	87,843	89,502
Financing expenses	419	464	528
Total cost of revenues	532,044	520,942	440,552
Gross profit	377,358	375,225	248,716
General and administrative expenses	190,746	171,838	144,791
Interest expense, net	60,742	63,331	66,895
Closure and impairment charges	3,062	5,409	132,620
Amortization of intangible assets	10,559	10,679	10,903
(Gain) loss on disposition of assets	(2,536)	2,045	2,069
Income (loss) before income taxes	114,785	121,923	(108,562)
Income tax (provision) benefit	(33,674)	(24,059)	4,568
Net income (loss)	81,111	97,864	(103,994)
Other comprehensive (loss) income, net of tax:
Foreign currency translation adjustment	(6)	(4)	3
Total comprehensive income (loss)	81,105	97,860	(103,991)
Net income (loss) available to common stockholders:
Net income (loss)	81,111	97,864	(103,994)
Less: Net income allocated to unvested participating restricted stock	(2,174)	(2,295)	(420)
Net income (loss) available to common stockholders	$ 78,937	$ 95,569	$ (104,414)
Net income (loss) available to common stockholders per share:
Basic (in dollars per share)	$ 4.97	$ 5.69	$ (6.43)
Diluted (in dollars per share)	$ 4.96	$ 5.66	$ (6.43)
Weighted average shares outstanding:
Basic (in shares)	15,873	16,799	16,230
Diluted (in shares)	15,901	16,890	16,230
Franchise Revenues
Revenues:
Revenue from contract with customer	$ 662,438	$ 631,936	$ 469,453
Royalties, franchise fees and other
Revenues:
Revenue from contract with customer	373,110	357,146	267,959
Advertising revenues
Revenues:
Revenue from contract with customer	289,328	274,790	201,494
Company restaurant sales
Revenues:
Revenue from contract with customer	126,869	146,000	108,054
Financing revenues
Revenues:
Revenue from contract with customer	3,604	4,298	5,822
Advertising expenses
Revenues:
Revenue from contract with customer	289,328	274,790	201,494
Cost of revenues:
Franchise expenses	287,063	272,303	202,012
Other franchise expenses
Cost of revenues:
Franchise expenses	$ 34,584	$ 28,512	$ 24,204

Consolidated Statements of Stockholders' Deficit - USD ($) $ in Thousands	Total	Cumulative Effect, Period Of Adoption, Adjustment	Common Stock	Additional Paid-in Capital	Retained Earnings (Accumulated Deficit)	Retained Earnings (Accumulated Deficit) Cumulative Effect, Period Of Adoption, Adjustment	Accumulated Other Comprehensive Loss	Treasury Stock
Common stock, shares, outstanding, beginning (in shares) at Dec. 31, 2019			16,522,000
Stockholders' equity, beginning of the period at Dec. 31, 2019	$ (241,774)	$ (497)	$ 249	$ 246,192	$ 61,653	$ (497)	$ (58)	$ (549,810)
Treasury stock, shares, beginning (in shares) at Dec. 31, 2019								8,404,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(103,994)				(103,994)
Other comprehensive gain	3						3
Purchase of common stock (in shares)			(460,000)					(460,000)
Purchase of common stock	$ (26,527)							$ (26,527)
Reissuance of treasury stock (in shares)	433,477		433,000					433,000
Reissuance of treasury stock	$ 20,522			1,102				$ 19,420
Net issuance of shares for stock plans (in shares)			(8,000)
Repurchase of restricted shares (in shares)			(36,000)
Repurchase of restricted shares for taxes	(2,479)			(2,479)
Stock-based compensation	12,508			12,508
Dividends on common stock	(12,208)			507	(12,715)
Tax payments for share settlement of restricted stock units	(205)			(205)
Common stock, shares, outstanding, ending (in shares) at Dec. 31, 2020			16,452,000
Stockholders' equity, ending of the period at Dec. 31, 2020	(354,651)		$ 249	257,625	(55,553)		(55)	$ (556,917)
Treasury stock, shares, ending (in shares) at Dec. 31, 2020								8,430,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	97,864				97,864
Other comprehensive gain	(4)						(4)
Purchase of common stock (in shares)			(59,000)					(59,000)
Purchase of common stock	$ (4,480)							$ (4,480)
Reissuance of treasury stock (in shares)	660,718		661,000					661,000
Reissuance of treasury stock	$ 25,337		$ 1	(1,459)				$ 26,795
Net issuance of shares for stock plans (in shares)			132,000
Repurchase of restricted shares (in shares)			(22,000)
Repurchase of restricted shares for taxes	(1,771)			(1,771)
Stock-based compensation	11,577			11,577
Dividends on common stock	(6,896)				(6,896)
Tax payments for share settlement of restricted stock units	$ (9,783)			(9,783)
Common stock, shares, outstanding, ending (in shares) at Dec. 31, 2021	17,163,946		17,164,000
Stockholders' equity, ending of the period at Dec. 31, 2021	$ (242,807)		$ 250	256,189	35,415		(59)	$ (534,602)
Treasury stock, shares, ending (in shares) at Dec. 31, 2021	7,828,329							7,828,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	$ 81,111				81,111
Other comprehensive gain	(6)						(6)
Purchase of common stock (in shares)			(1,738,000)					(1,738,000)
Purchase of common stock	$ (120,163)							$ (120,163)
Reissuance of treasury stock (in shares)	205,293		205,000					205,000
Reissuance of treasury stock	$ 241			(9,378)				$ 9,619
Net issuance of shares for stock plans (in shares)			7,000
Repurchase of restricted shares (in shares)			(39,000)
Repurchase of restricted shares for taxes	(2,867)			(2,867)
Stock-based compensation	16,131			16,131
Dividends on common stock	(31,769)			219	(31,988)
Tax payments for share settlement of restricted stock units	$ (955)			(955)
Common stock, shares, outstanding, ending (in shares) at Dec. 31, 2022	15,599,239		15,599,000
Stockholders' equity, ending of the period at Dec. 31, 2022	$ (301,084)		$ 250	$ 259,339	$ 84,538		$ (65)	$ (645,146)
Treasury stock, shares, ending (in shares) at Dec. 31, 2022	9,360,733							9,361,000

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Cash flows from operating activities
Net income (loss)	$ 81,111	$ 97,864	$ (103,994)
Adjustments to reconcile net income (loss) to cash flows provided by operating activities:
Depreciation and amortization	37,952	39,885	42,829
Non-cash stock-based compensation expense	16,131	11,577	12,508
Non-cash closure and impairment charges	2,927	5,324	132,501
Non-cash interest expense	3,016	2,852	2,698
Deferred income taxes	(1,071)	(2,065)	(20,049)
Deferred revenue	(4,474)	(6,573)	(7,111)
(Gain) loss on disposition of assets	(2,536)	2,041	2,069
Other	(5,160)	(1,593)	(1,246)
Changes in operating assets and liabilities:
Accounts receivable, net	(2,574)	7,301	(9,750)
Deferred rent receivable	7,928	6,192	13,859
Current income tax receivables and payables	8,326	(3,837)	16,143
Operating lease assets and liabilities	(11,823)	(18,212)	(15,179)
Gift card receivables and payables	2,783	14,759	12,231
Other current assets	(12,706)	(629)	(2,191)
Accounts payable	(3,665)	13,131	6,455
Accrued employee compensation and benefits	(16,264)	19,714	(1,909)
Accrued advertising expenses	(10,020)	12,111	12,881
Other current liabilities	(545)	(4,007)	3,758
Cash flows provided by operating activities	89,336	195,835	96,503
Cash flows from investing activities
Principal receipts from notes, equipment contracts and other long-term receivables	17,057	20,230	31,155
Net additions to property and equipment	(35,318)	(16,849)	(10,927)
Proceeds from sale of property and equipment	17,028	946	537
Additions to long-term receivables	(1,069)	0	(1,475)
Acquisition of business, net of cash acquired	(78,264)	0	0
Other	(338)	(466)	(565)
Cash flows (used in) provided by investing activities	(80,904)	3,861	18,725
Cash flows from financing activities
Repayment of long-term debt	(38,768)	(9,750)	(3,250)
Borrowings from revolving credit facility	100,000	0	220,000
Repayments of revolving credit facility	0	(220,000)	0
Payment of debt issuance costs	(6,289)	0	0
Dividends paid on common stock	(30,765)	0	(23,934)
Repurchase of common stock	(120,452)	(4,191)	(29,853)
Principal payments of finance lease obligations	(8,946)	(10,238)	(12,451)
Proceeds from stock options exercised	241	25,337	20,523
Repurchase of restricted stock for tax payments upon vesting	(2,867)	(1,771)	(2,480)
Tax payments for share settlement of restricted stock units	(955)	(9,783)	(205)
Cash flows (used in) provided by financing activities	(108,801)	(230,396)	168,350
Net change in cash, cash equivalents and restricted cash	(100,369)	(30,700)	283,578
Cash, cash equivalents and restricted cash at beginning of year	425,353	456,053	172,475
Cash, cash equivalents and restricted cash at end of year	324,984	425,353	456,053
Supplemental disclosures
Interest paid	64,599	65,229	69,208
Income taxes paid	28,085	31,300	11,873
Non-cash conversion of accounts receivable to notes receivable	$ 84	$ 4,258	$ 1,307

The Company	12 Months Ended
The Company	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
The Company	The Company The first International House of Pancakes® (“IHOP”) restaurant opened in 1958 in Toluca Lake, California. Shortly thereafter, the Company began developing and franchising additional restaurants. The Company was incorporated as IHOP Corp. under the laws of the State of Delaware in 1976. In November 2007, the Company acquired Applebee's International, Inc., which became a wholly-owned subsidiary of the Company. Effective June 2, 2008, the name of the Company was changed to DineEquity, Inc. and on February 20, 2018, the name of the Company was changed to Dine Brands Global, Inc.® (“Dine Brands Global”). In December 2022, the Company acquired FTO Holding Company, LLC (“Fuzzy's”), which owns the Fuzzy's Taco Shop® concept and became a wholly-owned subsidiary of the Company. The Company owns, franchises and operates three restaurant concepts: Applebee's Neighborhood Grill + Bar® (“Applebee's”), in the American full-service restaurant segment within the casual dining category of the restaurant industry; IHOP®, in the family dining mid-scale full-service category of the restaurant industry; and Fuzzy’s Taco Shop®, in the Mexican food segment within the fast-casual dining category of the restaurant industry. As of December 31, 2022, there were 1,781 IHOP restaurants, of which 1,625 were subject to franchise agreements and 156 were subject to area license agreements. These IHOP restaurants were located in all 50 states of the United States, the District of Columbia, two United States territories and nine countries outside the United States. As of December 31, 2022, there were 1,678 Applebee's® restaurants, all of which were subject to franchise agreements. These Applebee's restaurants were located in 49 states of the United States, two United States territories and 11 countries outside the United States. As of December 31, 2022, the Company had 137 Fuzzy restaurants in 18 states of the United States, of which 134 were subject to franchise agreements and three were company-operated. References herein to Applebee's, IHOP, and Fuzzy's restaurants are to these restaurant concepts, whether operated by franchisees, area licensees or the Company. Retail sales at restaurants that are owned by franchisees and area licensees are not attributable to the Company.

Basis of Presentation and Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2022

Accounting Policies [Abstract]

Basis of Presentation and Summary of Significant Accounting Policies

Principles of Consolidation

The consolidated financial statements include the accounts of Dine Brands Global, Inc. and its wholly-owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation.

Fiscal Periods

The Company has a 52/53 week fiscal year that ends on the Sunday nearest to December 31 of each year. In a 52-week fiscal year, each fiscal quarter contains 13 weeks, comprised of two, four-week fiscal months followed by a five-week fiscal month. In a 53-week fiscal year, the last month of the fourth fiscal quarter contains six weeks. For convenience, the Company refers to its fiscal years as ending on December 31 and its fiscal quarters as ending on March 31, June 30 and September 30. The December 31, 2022 fiscal year ended January 1, 2023 and contained 52 weeks. The 2021 fiscal year ended January 2, 2022 contained 52 weeks. The 2020 fiscal year ended January 3, 2021 contained 53 weeks.

Use of Estimates

The preparation of financial statements in conformity with United States generally accepted accounting principles (“U.S. GAAP”) requires the Company's management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosures of contingent assets and liabilities, if any, at the date of the consolidated financial statements, and the reported amounts of revenues and expenses during the reporting period. Significant estimates are made in the calculation and assessment of the following: impairment of tangible and intangible assets and goodwill; income taxes; allowance for doubtful accounts and notes receivables; lease accounting estimates; contingencies; and stock-based compensation. On an ongoing basis, the Company evaluates its estimates based on historical experience, current conditions and various other assumptions that are believed to be reasonable under the circumstances. The Company adjusts such estimates and assumptions when facts and circumstances dictate. Actual results could differ from those estimates.

Risks and Uncertainties

The Company is subject to risks and uncertainties as a result of the outbreak of a novel strain of coronavirus, designated “COVID-19” and declared to be a pandemic in March 2020. The Company first began to experience impacts from COVID-19 in March 2020, as federal, state and local governments reacted to the public health crisis by encouraging and/or requiring social distancing, instituting shelter-in-place orders, and requiring, in varying degrees, restaurant dine-in limitations and other restrictions that largely limited the restaurants of the Company's franchisees and its company-operated restaurants to take-out and delivery sales during the initial stages of the pandemic. Subsequently, government-imposed dine-in restrictions have been relaxed, removed and reinstated as incidents of infection decrease or increase within the respective governmental jurisdictions. As of December 31, 2022, almost all of the restaurants were open and operating without government-mandated restriction.

We cannot predict how long the pandemic will last, whether/when recurrences of the virus and its variants may arise, what restrictions on in-restaurant dining may be enacted or re-enacted, the availability and acceptance of vaccines, the timing and extent of customer re-engagement with the Company's brands and, in general, what the short- and long-term impact on consumer discretionary spending the COVID-19 pandemic might have on the Company and the restaurant industry as a whole, all of which are uncertain and cannot be predicted. As such, the extent to which the COVID-19 pandemic may continue to materially impact the Company's financial condition, liquidity, or results of operations remains highly uncertain.

Concentration of Credit Risk

The Company's cash, cash equivalents, restricted cash and accounts receivable are potentially subject to concentration of credit risk. Cash and cash equivalents are placed with financial institutions that management believes are creditworthy. The Company does not believe that it is exposed to any significant credit risk on cash, cash equivalents and restricted cash. At times, cash, cash equivalents and restricted cash balances may be in excess of FDIC insurance limits.

Accounts receivable are derived from revenues earned from franchisees and area licensees located primarily in the United States. Financing receivables arise from the financing of restaurant equipment, real estate leases or franchise fees with the Company by IHOP franchisees. The Company is subject to a concentration of credit risk with respect to receivables from franchisees that own a large number of Applebee's or IHOP restaurants. As of December 31, 2022, two franchisees (one Applebee's franchisee and one franchisee with cross-brand ownership) operated a combined total of 825 Applebee's and IHOP restaurants in the United States, which comprised 25.4% of the total Applebee's and IHOP franchise and area license restaurants in the United States. Revenues from these two franchisees represented 18.8%, 18.0%, and 17.1% of total consolidated revenue for the years ended December 31, 2022, 2021 and 2020, respectively. One franchisee represented 12.5%, 11.8%, and 11.0% of total consolidated revenue for the years ended December 31, 2022, 2021 and 2020, respectively. Receivables from these franchisees totaled $20.9 million and $19.7 million at December 31, 2022 and 2021, respectively.

Cash and Cash Equivalents

The Company considers all highly liquid investment securities with remaining maturities at the date of purchase of three months or less to be cash equivalents. These cash equivalents are stated at cost which approximates market value. Cash held related to IHOP advertising funds and the Company's gift card programs is not considered to be restricted cash as there are no restrictions on the use of these funds. The components of cash and cash equivalents were as follows:


	December 31,
	2022		2021
	(In millions)
Money market funds	$	75.0	$	30.0
IHOP advertising funds and gift card programs	96.7		101.5
Other depository accounts	98.0		229.9
Total cash and cash equivalents	$	269.7	$	361.4

Restricted Cash

Current

Current restricted cash primarily consisted of funds required to be held in trust in connection with the Company's securitized debt and funds from Applebee's and Fuzzy's franchisees pursuant to franchise agreements, usage of which was restricted to advertising activities. The components of current restricted cash were as follows:


	December 31,
	2022		2021
	(In millions)
Securitized debt reserves	$	32.4	$	29.9
Applebee's advertising funds	5.4		17.5
Other	1.1		0.1
Total current restricted cash	$	38.9	$	47.5

Non-current

Non-current restricted cash of $16.4 million and $16.4 million at December 31, 2022 and 2021, respectively, represents interest reserves set aside for the duration of the securitized debt. The required reserve is approximately one quarter's interest payment on the Company's securitized debt. The Company voluntarily increased the amount held in non-current cash to twice the required amount during the year ended December 31, 2020 and reduced the reserve back to the minimum amount during the year ended December 31, 2021.

Property and Equipment

Property and equipment are stated at cost, net of accumulated depreciation. Properties under finance leases are stated at the present value of the minimum lease payments. Depreciation is computed using the straight-line method over the estimated useful lives of the assets or remaining useful lives. Leasehold improvements and properties under finance leases are amortized on a straight-line basis over their estimated useful lives or the lease term, if less. The general ranges of depreciable and amortizable lives are as follows:


Category						Depreciable Life
Buildings and improvements						25 to 40 years
Leaseholds and improvements						Shorter of primary lease term or between three to 40 years
Equipment and fixtures						Three to five years
Internal-use software						Three to 10 years
Properties under finance leases						Primary lease term or remaining primary lease term

Long-Lived Assets

On a regular basis, the Company assesses whether events or changes in circumstances have occurred that potentially indicate the carrying value of long-lived assets (primarily assets related to property and equipment leased or subleased to franchisees) may not be recoverable. The analysis is performed at the restaurant level for indicators of impairment. The Company tests for impairment using current and historical operating results and cash flows as well as other relevant facts and circumstances as the primary basis for estimates of future cash flows. The Company considers factors such as the number of years the franchisee's restaurant has been in operation, sales trends, cash flow trends, remaining lease life and other factors which apply on a case-by-case basis. Continuing losses associated with an asset are an indicator of impairment.

If it is decided that there has been an impairment, the carrying amount of the asset is written down to the estimated fair value as determined in accordance with U.S. GAAP governing fair value measurements. The primary method of estimating fair value is based on a discounted cash flow analysis. Any loss resulting from impairment is recognized as a charge against operations.

See Note 13 - Closure and Long-lived Tangible Asset Impairment Charges, of the Notes to the Consolidated Financial Statements for additional information.

Goodwill and Intangible Assets

Goodwill is recorded when the aggregate purchase price of an acquisition exceeds the estimated fair value of the net identified tangible and intangible assets acquired. Intangible assets resulting from an acquisition are accounted for using the purchase method of accounting and are estimated by management based on the fair value of the assets received. The Company's identifiable intangible assets are comprised primarily of the Applebee's tradename and Applebee's franchise agreements and as of December 2022, the Fuzzy's tradename and Fuzzy's franchise agreements. Identifiable intangible assets with finite lives (franchise agreements) are amortized over the period of estimated benefit using the straight-line method and estimated useful lives. Goodwill and intangible assets considered to have an indefinite life (primarily the tradenames) are not subject to amortization. The determination of indefinite life is subject to reassessment if changes in facts and circumstances indicate the period of benefit has become finite.

Goodwill has been allocated to four reporting units. The significant majority of the Company's goodwill resulted from the November 29, 2007 acquisition of Applebee's and was allocated to the Applebee's franchised restaurants unit (“Applebee's franchise unit”). Smaller amounts of goodwill arising from other business combinations have been allocated to the Fuzzy's franchised restaurants unit (“Fuzzy's franchise unit”), the IHOP franchised restaurants unit (“IHOP franchise unit”) and the Applebee's company restaurants unit (“Applebee's company unit”). See Note 6 - Goodwill, of the Notes to the Consolidated Financial Statements for additional information.

The Company evaluates the goodwill of the Applebee's franchise and company units and the indefinite-lived Applebee's tradename for impairment as of October 31 of each year. The Company evaluates the goodwill of the IHOP franchise unit and the Fuzzy's franchise unit for impairment as of December 31 of each year. In addition to the annual evaluation for impairment, goodwill and indefinite-lived intangible assets are evaluated more frequently if the Company believes indicators of impairment exist.

When evaluating goodwill and indefinite-lived intangible assets for impairment, under U.S. GAAP, the Company may first perform an assessment of qualitative factors to determine if the fair value of the reporting unit or the intangible asset is more-likely-than-not greater than the carrying amount. Such qualitative factors include, but are not limited to, macro-economic conditions, market and industry conditions, cost considerations, current and future income tax rates, the competitive environment, fluctuations in the market value of the Company's common stock, absolute and relative to peers, overall financial performance and results of past impairment tests. If, based on a review of the qualitative factors, the Company determines it is more-likely-than-not that the fair value is greater than the carrying value, the Company may bypass a quantitative test for impairment.

In performing the quantitative test for impairment of goodwill, the Company primarily uses the income approach method of valuation that includes the discounted cash flow method and the market approach that includes the guideline public company method. Significant assumptions used to determine fair value under the discounted cash flow method include expected future trends in sales, operating expenses, overhead expenses, capital expenditures and changes in working capital, along with an appropriate discount rate based on the Company's estimated cost of equity capital and after-tax cost of debt. Significant assumptions used to determine fair value under the guideline public company method include the selection of guideline companies and the valuation multiples applied. The Company measures impairment as the excess of a reporting unit's carrying amount over its fair value as determined by the quantitative test described above.

In the process of performing its quantitative impairment review of intangible assets considered to have an indefinite life, the Company primarily uses the relief of royalty method under the income approach method of valuation. Significant assumptions used to determine fair value under the relief of royalty method include future trends in sales, a royalty rate and an appropriate discount rate based on the Company's estimated cost of equity capital and after-tax cost of debt to be applied to the forecast revenue stream.

Business Combinations

From time to time, we may enter into business combinations. In accordance with Accounting Standards Codification (“ASC”) 805, Business Combinations, the Company applies the acquisition method for acquisitions that meet the definition of a business combination. Under the acquisition method, the Company estimates the fair value of the identifiable assets and liabilities of the acquired entity on the acquisition date. Acquired intangible assets are valued using different methods under the income approach, including but not limited to, the multi-period excess earnings method for tradenames and franchising rights and the relief-from-royalty method for recipes. The Company measures goodwill as the excess of consideration transferred over the net of the acquisition date fair values of the identifiable assets acquired and liabilities assumed. Goodwill is assigned to each reporting unit that is expected to benefit from the synergies of the business combination. Acquisition-related expenses and

transaction costs associated with business combinations are expensed in the period incurred which is included in the transaction-related expenses line item of the Consolidated Statements of Comprehensive Income (Loss).

Revenue Recognition

The Company's revenues are recorded in four categories: franchise operations, company restaurant operations, rental operations and financing operations. Franchise revenue (which comprises most of the Company's revenues) and revenue from company-operated restaurants are recognized in accordance with ASC 606 - Revenue from Contracts with Customers (“ASC 606”). Under ASC 606, revenue is recognized upon transfer of control of promised services or goods to customers in an amount that reflects the consideration the Company expects to receive for those services or goods. The Company's rental and financing revenues are recognized in accordance with other U.S. GAAP accounting standards and are not subject to ASC 606.

Franchise Revenues

The Company franchises the Applebee’s, IHOP and Fuzzy's restaurant concepts. The franchise arrangement for the brands is documented in the form of a franchise agreement and, in most cases, a development agreement. The franchise arrangement between the Company as the franchisor and the franchisee as the customer requires the Company to perform various activities to support the brand that do not directly transfer goods and services to the franchisee, but instead represent a single performance obligation, which is the transfer of the franchise license. The intellectual property subject to the franchise license is symbolic intellectual property as it does not have significant standalone functionality, and substantially all the utility is derived from its association with the Company’s past or ongoing activities. The nature of the Company’s promise in granting the franchise license is to provide the franchisee with access to the brand’s symbolic intellectual property over the term of the license. The services provided by the Company are highly interrelated with the franchise license and as such are considered to represent a single performance obligation.

The transaction price in a standard franchise arrangement for the brands primarily consists of (a) initial franchise/development fees; (b) continuing franchise fees (royalties); and (c) advertising fees. Since the Company considers the licensing of the franchising right to be a single performance obligation, no allocation of the transaction price is required. Additionally, all domestic IHOP franchise agreements require franchisees to purchase proprietary pancake and waffle dry mix from the Company.

The Company recognizes the primary components of the transaction price as follows:

•Franchise and development fees are recognized as revenues ratably on a straight-line basis over the term of the franchise agreement commencing with the restaurant opening date. As these fees are typically received in cash at or near the beginning of the franchise term, the cash received is initially recorded as a contract liability until recognized as revenue over time;

•The Company is entitled to royalties and advertising fees based on a percentage of the franchisee's gross sales as defined in the franchise agreement. Royalty and advertising revenues are recognized when the franchisee's reported sales occur. Depending on timing within a fiscal period, the recognition of revenue results in either a contract asset (unbilled receivable) or, once billed, accounts receivable, on the balance sheet;

•Revenue from the sales of proprietary pancake and waffle dry mix is recognized in the period in which distributors ship the franchisee's order; recognition of revenue results in accounts receivable on the balance sheet.

In determining the amount and timing of revenue from contracts with customers, the Company exercises judgment with respect to collectibility of the amount; however, the timing of recognition does not require significant judgment as it is based on either the franchise term, the month of sale as reported by the franchisee or the date of product shipment, none of which require estimation.

The Company does not incur a significant amount of contract acquisition costs in conducting its franchising activities. The Company believes its franchising arrangements do not contain a significant financing component.

Company Restaurant Revenues

Company restaurant revenues comprise retail sales at company-operated restaurants. Sales by company-operated restaurants are recognized when food and beverage items are sold. Company restaurant sales are reported net of sales taxes collected from guests that are remitted to the appropriate taxing authorities, with no significant judgments required.

Rental Revenues

Rental operations revenues include revenues from operating leases and interest income from real estate leases. See Basis of Presentation and Summary of Significant Accounting Policies - Leases.

Financing Revenues

Financing operations revenues consist primarily of interest income from the financing of franchise fees and equipment leases, other notes receivable from franchisees and sales of equipment associated with refranchised IHOP restaurants. Interest income is recorded as earned.

Gift Card

The Company administers gift card programs for each restaurant concept. The Company records a liability in the period in which a gift card is sold and recognizes costs associated with its administration of the gift card programs as prepaid assets when the costs are incurred. The liability and prepaid asset recorded on the Company's books are relieved when gift cards are redeemed. If redemption occurs at a franchisee-operated restaurant, the gift card revenue, net of costs, is remitted to the franchisee. The Company receives gift card breakage revenue only from gift cards redeemed at company-operated restaurants. Breakage revenue for gift cards estimated to be redeemable at company-operated restaurants for the years ended December 31, 2022, 2021 and 2020 was $0.3 million in each year.

Allowance for Credit Losses

The allowance for credit losses is the Company's best estimate of the amount of probable credit losses incurred on existing receivables; however, changes in circumstances relating to receivables may result in changes to the allowance in the future. The Company determines the allowance based on historical losses, current conditions, and reasonable and supportable forecasts used in assessing the franchisee's or area licensee's ability to pay outstanding balances. The primary indicator of credit quality is delinquency, which is considered to be a receivable balance greater than 90 days past due. The Company continually reviews the allowance for credit losses. Past due balances and future obligations are reviewed individually for collectability. Account balances are charged against the allowance after all collection efforts have been exhausted and the potential for recovery is considered remote. See Note 4, Current Expected Credit Losses, of the Notes to the Consolidated Financial Statements for additional information.

Leases

The Company accounts for its leasing activities in accordance with accounting guidance for leases, as codified in Accounting Standards Topic 842 (“ASC 842”), adopted as of the beginning of its 2019 fiscal year. In adopting ASC 842, the Company utilized expedients that allowed it to retain the classification, as either an operating lease or a finance lease, that was previously determined under prior accounting guidance for leases. The Company reassesses this classification upon renewal, extension or the modification of an existing lease agreement. The Company determines the appropriate classification upon entering into a new contract determined to contain a lease.

Operating lease assets and liabilities are recognized at the lease commencement date, or were recognized upon adoption of ASC 842. Operating lease liabilities represent the present value of lease payments not yet paid. Operating lease assets represent the Company's right to use an underlying asset and are based upon the operating lease liabilities adjusted for prepayments or accrued lease payments, initial direct costs, lease incentives and impairment of operating lease assets.

The Company's lease agreements generally do not provide information to determine the implicit interest rate in the agreements. This requires the Company to estimate an incremental borrowing rate to be used in calculating operating lease liabilities as of the adoption or commencement date. The Company estimates the incremental borrowing rate primarily by reference to (i) yield rates on debt issuances by companies of a similar credit rating as the Company; (ii) U.S. Treasury rates as of the adoption or commencement date; and (iii) adjustments for differences between these rates and the lease term.

The cost of an operating lease is recognized over the lease term on a straight-line basis. The lease term commences on the date the Company has the right to control the use of the leased property. Certain leases may contain provisions for rent holidays and fixed-step escalations in payments over the base lease term, as well as renewal periods. The effects of the holidays and fixed-step escalations are reflected in rent expense on a straight-line basis over the expected lease term. Differences between amounts paid and amounts expensed are recorded as deferred rent. Certain leases may include rent escalations based on inflation indexes and fair market value adjustments. Certain leases may contain contingent rental provisions that include a fixed

base rent plus an additional percentage of the restaurant’s sales. Subsequent escalations subject to such an index and contingent rental payments are recognized as variable lease expense.

The rental payments (as lessee) or receipts (as lessor) on those property leases that meet the finance lease criteria result in the recognition of interest expense or interest income and a reduction of finance lease obligation or financing lease receivable, respectively. Finance lease obligations are amortized based on the Company's incremental borrowing rate and real estate leases receivable are amortized using the implicit interest rate.

Pre-opening Expenses

Expenditures related to the opening of new or relocated restaurants are charged to expense when incurred.

Advertising

Advertising expense reflected in the Consolidated Statements of Comprehensive Income (Loss) includes contributions to the national advertising funds made by Applebee's and IHOP, local marketing advertising costs incurred by company-operated restaurants, and certain advertising costs incurred by the Company to benefit future franchise operations. Costs of advertising typically are expensed either as incurred or the first time the advertising takes place. Any excess or deficiency of advertising fee revenue compared to advertising expenditures, is recognized in the fourth quarter of the Company's fiscal year. Any excess of revenue over expenditures is recognized only to the extent of previously recognized deficits. When advertising revenues exceed the related advertising expenses and there is no recovery of a previously recognized deficit of advertising revenues, advertising costs are accrued up to the amount of revenues.

Advertising expense included in company restaurant operations for the years ended December 31, 2022, 2021 and 2020 was $5.6 million, $6.8 million and $5.2 million, respectively.

Fair Value Measurements

The Company determines the fair market values of its financial assets and liabilities, as well as non-financial assets and liabilities that are recognized or disclosed at fair value on a recurring basis, based on the fair value hierarchy established in U.S. GAAP. As necessary, the Company measures its financial assets and liabilities using inputs from the following three levels of the fair value hierarchy:

•Level 1 inputs are quoted prices in active markets for identical assets or liabilities.

•Level 2 inputs are observable for the asset or liability, either directly or indirectly, including quoted prices in active markets for similar assets or liabilities.

•Level 3 inputs are unobservable and reflect the Company's own assumptions.

The Company does not have a material amount of financial assets or liabilities that are required under U.S. GAAP to be measured at fair value on a recurring basis. None of the Company's non-financial assets or non-financial liabilities is required to be measured at fair value on a recurring basis. Assets recognized or disclosed at fair value in the consolidated financial statements on a nonrecurring basis include items such as property and equipment, operating lease assets, goodwill and other intangible assets, which are measured at fair value if determined to be impaired. The Company has not elected to use fair value measurement for any assets or liabilities for which fair value measurement is not presently required.

The Company believes the fair values of cash and cash equivalents, restricted cash, accounts receivable and accounts payable approximate their carrying amounts due to their short duration.

The fair values of non-current financial instruments, determined based on Level 2 inputs, are shown in the following table:


	December 31,
	2022		2021
	(In millions)
Face value of Series 2019-1 Fixed Rate Senior Secured Notes	$	1,247.0	$	1,287.0
Fair value of Series 2019-1 Fixed Rate Senior Secured Notes	$	1,167.0	$	1,312.9

Income Taxes

The Company utilizes the liability method of accounting for income taxes. Under the liability method, deferred taxes are determined based on the temporary differences between the financial statement and tax basis of assets and liabilities using enacted tax rates. A valuation allowance is recorded when it is more likely than not that some or all of the deferred tax assets will not be realized. The Company records estimated tax liabilities to the extent the contingencies are probable and can be reasonably estimated. The Company recognizes interest accrued related to unrecognizable tax benefits and penalties as a component of the income tax provision recognized in the Consolidated Statements of Comprehensive Income (Loss).

The Company is taxed on global intangible low-tax income ("GILTI") earned by certain foreign subsidiaries and recognizes the current tax on GILTI as an expense in the period the tax is incurred. The Company includes the current tax impact of GILTI in our effective tax rate.

The Company recognizes the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained upon examination by taxing authorities based on its technical merits, including all appeals or litigation processes. The tax benefits recognized in the financial statements from such a position are measured based on the largest benefit that has a greater than fifty percent likelihood of being realized upon ultimate resolution. For each reporting period, management applies a consistent methodology to measure and adjust all uncertain tax positions based on the available information.

Stock-Based Compensation

Members of the Board of Directors and certain employees are eligible to receive stock options, restricted stock, restricted stock units and performance units pursuant to the Dine Brands Global, Inc. 2019 Stock Incentive Plan. Shares of unvested restricted stock are subject to restrictions on transfer and forfeiture under certain circumstances. The holder of unvested restricted stock has the right to vote and receive regular cash dividends with respect to the shares of unvested restricted stock.

The Company accounts for all stock-based payments to employees and non-employee directors, including grants of stock options, restricted stock, restricted stock units and performance units to be recognized in the financial statements, based on their respective grant date fair values. The value of the portion of the award that is ultimately expected to vest is recognized as expense ratably over the requisite service periods.

The grant date fair value of restricted stock and stock-settled restricted stock units is determined based on the Company's stock price on the grant date. The Company estimates the grant date fair value of stock option awards using the Black-Scholes option pricing model, which considers, among other factors, a risk-free interest rate, the expected life of the award and the historical volatility of the Company's stock price. The Company estimates the grant date fair value of awards with performance-based market conditions using a Monte Carlo simulation method which considers, among other factors, the performance-based market condition, a risk-free interest rate, the expected life of the award and the historical volatility of the Company's stock price. Awards of cash-settled restricted stock units are classified as liabilities with the liability and compensation expense related to cash-settled awards adjusted to fair value at each balance sheet date.

Net Income (Loss) Per Share

Net income (loss) per share is calculated using the two-class method prescribed in U.S. GAAP. Basic net income (loss) per share is computed by dividing the net income (loss) available to common stockholders for the period by the weighted average number of common shares outstanding during the period. Diluted net income (loss) per share is computed by dividing the net income (loss) available to common stockholders for the period by the weighted average number of common shares and potential shares of common stock outstanding during the period if their effect is dilutive. The Company uses the treasury stock method to calculate the weighted average shares used in the diluted earnings per share calculation. Potentially dilutive common shares include the assumed exercise of stock options and assumed vesting of restricted stock.

Other Comprehensive Income (Loss)

For the years ended December 31, 2022, 2021 and 2020, the income tax benefit or provision allocated to items of other comprehensive income (loss) was not significant.

Treasury Stock

The Company may from time to time utilize treasury stock when vested stock options are exercised, when restricted stock awards are granted and when restricted stock units settle in stock upon vesting. The cost of treasury stock re-issued is determined using the first-in, first-out method.

Dividends

Dividends declared on common stock are recorded as a reduction of retained earnings to the extent retained earnings are available at the close of the period prior to the date of the dividend declaration. Dividends declared in excess of retained earnings are recorded as a reduction of additional paid-in capital.

Reporting Segments

The Company identifies its reporting segments based on the organizational units used by management to monitor performance and make operating decisions. The Company has six operating segments: Applebee's franchise operations, IHOP franchise operations, Fuzzy's franchise operations, rental operations, financing operations and company-operated restaurant operations. The Company has four reporting segments: franchise operations, (an aggregation of each restaurant concept's franchise operations), rental operations, financing operations and company-operated restaurant operations. The Company considers these to be its reportable segments, regardless of whether any segment exceeds 10% of consolidated revenues, income before income tax provision or total assets.

Franchise Segment

As of December 31, 2022, the franchise operations reportable segment consisted of 1,678 restaurants operated by Applebee's franchisees in the United States, two United States territories and 11 countries outside the United States; 1,781 restaurants operated by IHOP franchisees and area licensees in the United States, two United States territories and nine countries outside the United States; and 134 restaurants operated by Fuzzy's franchisees in the United States. Franchise operations revenue consists primarily of royalties and advertising fees based on a percentage of the franchisee's gross sales, sales of proprietary products (primarily IHOP pancake and waffle dry mixes) and other franchise fees.

Franchise operations expenses include advertising expense, the cost of proprietary products, pre-opening training expenses and other franchise-related costs.

Rental Segment

Rental operations revenue includes revenue from operating leases and interest income from real estate leases. Rental operations expenses are costs of operating leases and interest expense of finance leases on franchisee-operated restaurants. The rental operations revenue and expenses are primarily generated by IHOP. Applebee's has an insignificant amount of rental activity.

Financing Segment

Financing operations revenue primarily consists of interest income from the financing of IHOP franchise fees and equipment leases, notes receivable from Applebee's and IHOP franchisees and sales of equipment associated with refranchised IHOP restaurants. Financing expenses are the cost of restaurant equipment.

Company Segment

As of December 31, 2022, the company-operated three Fuzzy's restaurants that were acquired in December 2022. During 2022, 2021 and 2020, the company-operated 69 Applebee's restaurants that were acquired from a former franchisee in December 2018. The 69 Applebee's company-operated restaurants were sold in October 2022. All company-operated restaurants were located in the United States. Company restaurant sales are retail sales at company-operated restaurants. Company restaurant expenses are operating expenses at company-operated restaurants and include food, beverage, labor, benefits, utilities, rent and other operating costs.

Accounting Standards Adopted in the Current Fiscal Year

In July 2021, the FASB issued guidance which affect lessors with lease contracts that (i) have variable lease payments that do not depend on a reference index or a rate and (ii) would have resulted in the recognition of a selling loss at lease commencement if classified as sales-type or direct financing. The amendments are effective for fiscal years beginning after December 15, 2021. Adoption did not have any material effect on the consolidated financial statements.

In March 2020, with an update in January 2021, the FASB issued guidance which provides optional expedients and exceptions for applying current U.S. GAAP to contracts, hedging relationships, and other transactions affected by the discontinuation of the London Interbank Offered Rate (“LIBOR”) or by another reference rate expected to be discontinued. The guidance can be adopted immediately and is applicable to contracts entered into on or before December 31, 2022. Adoption did not have any material effect on the consolidated financial statements.

Additional new accounting guidance became effective for the Company as of the beginning of fiscal 2022 that the Company reviewed and concluded was either not applicable to its operations or had no material effect on its consolidated financial statements in the current or future fiscal years.

Newly Issued Accounting Standards Not Yet Adopted

The Company reviewed all other newly issued accounting pronouncements and concluded that they either are not applicable to the Company's operations or that no material effect is expected on the Company's financial statements when adoption is required in the future.

Revenue

12 Months Ended

Dec. 31, 2022

Revenue from Contract with Customer [Abstract]

Revenue

The following table disaggregates our franchise revenues by major type for the years ended December 31, 2022, 2021 and 2020:


	Year ended December 31,
	2022		2021		2020
Franchise Revenues	(In thousands)
Royalties	$	303,724	$	292,372	$	215,214
Advertising fees	289,328		274,790		201,494
Pancake and waffle dry mix sales and other	60,749		51,250		38,936
Franchise and development fees	8,637		13,524		13,809
Total franchise revenues	$	662,438	$	631,936	$	469,453

Accounts and other receivables related to franchise revenues as of December 31, 2022 and 2021 were $69 million (net of allowance of $1.3 million) and $66 million (net of allowance of $1.1 million), respectively, and were included in receivables, net in the Consolidated Balance Sheets.

Changes in the Company's deferred franchise revenue during the year ended December 31, 2022 were as follows:


	Deferred Franchise Revenue (short- and long-term)
	(In thousands)
Balance at December 31, 2021	$	53,346
Recognized as revenue during the year ended December 31, 2022	(8,518)
Fees deferred during the year ended December 31, 2022	4,044
Acquisition addition	621
Balance at December 31, 2022	$	49,493

The balance of deferred franchise revenue as of December 31, 2022 is expected to be recognized as follows:


	(In thousands)
2023	$	7,150
2024	6,478
2025	5,699
2026	4,850
2027	3,954
Thereafter	21,362
Total	$	49,493

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI https://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 13
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Paragraph 12
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
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-Subparagraph (e)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

+ Details

Current Expected Credit Losses ("CECL")

12 Months Ended

Dec. 31, 2022

Credit Loss [Abstract]

Current Expected Credit Losses ("CECL")

Current Expected Credit Losses (“CECL”)

The CECL reserve methodology requires companies to measure expected credit losses on financial instruments based on the total estimated amount to be collected over the lifetime of the instrument. Under the CECL model, reserves may be established against financial asset balances even if the risk of loss is remote or has not yet manifested itself.

In applying the CECL methodology, the Company developed its estimated loss reserves in the following manner. The Company continued to record specific reserves against account balances of franchisees deemed “at-risk” when a potential loss is likely or imminent as a result of prolonged payment delinquency (greater than 90 days past due) and where notable credit deterioration has become evident. For financial assets that are not currently deemed “at-risk,” an allowance is recorded based on expected loss rates derived pursuant to the following CECL methodology that assesses four components: (1) historical losses, (2) current conditions, (3) reasonable and supportable forecasts, and (4) reversion to history, if applicable.

Historical Losses

Historical loss rates over a five-year span were calculated for financial assets with common risk characteristics. The Company determined historical loss rate data for each franchise brand concept was more relevant than a single blended rate. Historical losses were determined based on the average charge-off method. Historical loss rates are further adjusted by factors related to current conditions and forecasts of future economic conditions.

Current Conditions

The Company identified three metrics that it believes provide the most relevant reflection of the current risks inherent in the Company’s franchisee-based restaurant business, as follows: (1) delinquency status, (2) system-wide same-restaurant sales, and (3) restaurant unit-level economics. The current conditions adjustment factor was adjusted to account for the impact of the COVID-19 pandemic.

Reasonable and Supportable Forecasts

The third component in the CECL methodology involves consideration of macroeconomic conditions that can impact the estimate of expected credit losses in the future. The Company has not developed an internal methodology in this regard; rather, the Company utilizes existing, publicly accessible sources of economic data, primarily forecasts of overall unemployment rate as well as consumer spending based on the personal consumption expenditure index.

Reversion to History

The Company has determined that reversion to history was not required since the remaining average lives of the Company’s financial assets are not exceedingly lengthy.

The Company considers its portfolio segments to be the following:

Accounts Receivable (Franchise-Related)

Most of the Company’s short-term receivables due from franchisees are derived from royalty, advertising and other franchise-related fees.

Gift Card Receivables

Gift card receivables consist primarily of amounts due from third-party vendors. Receivables related to gift card sales are subject to seasonality and usually peak around year end as a result of the December holiday season.

Notes Receivable

Notes receivable balances primarily relate to the conversion of certain Applebee's franchisee accounts receivable to notes receivable, cash loans to franchisees for working capital purposes, a note receivable in connection with the sale of IHOP company restaurants in June 2017, and IHOP franchise fee and other notes. The notes are typically collateralized by the franchise. The notes generally have a term from one to eight years and bear interest averaging 5.3% and 4.0% per annum at December 31, 2022 and 2021, respectively. Due to the risk inherent in Applebee's notes that were converted from previously delinquent franchisee accounts receivable balances, a significant portion of these notes have specific reserves recorded against them totaling $8.8 million as of December 31, 2022.

Equipment Leases Receivable

Equipment leases receivable primarily relate to IHOP franchise development activity prior to 2003. IHOP provided the financing for the leasing of the equipment. Equipment lease contracts are collateralized by the equipment in the restaurant. Equipment lease contracts are due in equal weekly installments, and bear interest averaging 9.8% and 9.9% per annum at December 31, 2022 and 2021, respectively. The term of an equipment lease contract typically coincides with the term of the corresponding restaurant building lease. The weighted average remaining life of the Company’s equipment leases is 3.9 years as of December 31, 2022. The estimated fair value of the equipment collateralizing these lease contracts are not deemed to be significant given the very seasoned and mature nature of this portfolio.

Real Estate Leases Receivable

Real estate lease receivable also primarily relate to IHOP franchise development activity prior to 2003 when IHOP typically leased or purchased the restaurant site, built and equipped the restaurant, and then franchised the restaurant to a franchisee. IHOP provided the financing for leasing or subleasing the site. Real estate lease receivables at December 31, 2022, were comprised of 48 leases with a weighted average remaining life of 10.2 years, and relate to locations that IHOP is leasing from third parties and subleasing to franchisees. Where applicable, building leases and equipment contracts contain cross-default provisions wherein a default under one constitutes a default under all.

Distributor Receivables

Receivables due from distributors are related to the sale of IHOP’s proprietary pancake and waffle dry mix to franchisees through the Company’s network of suppliers and distributors and are included as part of Other receivables.

Total receivables balances at December 31, 2022 and 2021 were as follows:


Receivables	2022		2021
	(In millions)
Accounts receivable	$	67.5	$	63.6
Gift card receivables	34.6		33.4

Notes receivable	17.2		19.7
Financing receivables:
Equipment leases receivable	26.6		33.4
Real estate leases receivable	18.5		16.7

Other receivables	5.6		7.6
	170.0		174.4
Less: allowance for doubtful accounts and notes receivable	(10.3)		(11.9)
	159.7		162.5
Less: current portion	(120.0)		(120.0)
Long-term receivables	$	39.7	$	42.5

Changes in the allowance for credit losses during the years ended December 31, 2022 and 2021 were as follows:



	Accounts Receivable		Notes receivable, short-term		Notes receivable, long-term		Lease Receivables		Equipment Receivables		Other (1)		Total
	(In millions)






Balance, December 31, 2020	$	11.2	$	3.6	$	5.3	$	0.4	$	2.3	$	0.3	$	23.1

Bad debt (credit) expense	(8.2)		1.4		1.1		0.1		0.8		(0.1)		(4.9)
Advertising provision adjustment	(1.8)		(0.3)		0.2		—		—		—		(1.9)
Write-offs	(0.2)		(0.9)		—		(0.5)		(3.0)		—		(4.6)
Recoveries	0.0		—		—		0.2		—		—		0.2
Balance, December 31, 2021	$	1.0	$	3.8	$	6.6	$	0.2	$	0.1	$	0.2	$	11.9
Bad debt (credit) expense	(0.1)		1.4		(1.1)		0.0		(0.0)		0.0		0.3
Advertising provision adjustment	0.5		(0.8)		(0.2)		—		—		—		(0.5)
Write-offs	(0.3)		(0.9)		—		(0.0)		(0.0)		(0.3)		(1.5)
Recoveries	0.1		—		—		0.0		0.0		0.0		0.1
Balance, December 31, 2022	$	1.2	$	3.5	$	5.3	$	0.2	$	0.1	$	(0.1)	$	10.3

_________________________________

(1) Primarily consists of distributor receivables, gift card receivables, and credit card receivables.

The Company's primary credit quality indicator for all portfolio segments is delinquency. The delinquency status of receivables (other than accounts receivable, gift card receivables and distributor receivables) at December 31, 2022 was as follows:



	Notes receivable, short-term		Notes receivable, long-term		Lease Receivables		Equipment Receivables		Other (1)		Total
	(In millions)
Current	$	4.9	$	10.7	$	18.5	$	26.6	$	0.0	$	60.7
30-59 days	—		—		—		—		—		—
60-89 days	—		—		—		—		—		—
90-119 days	—		—		—		—		—		—
120+ days	1.6		—		—		—		—		1.6
Total	$	6.5	$	10.7	$	18.5	$	26.6	0.0		$	62.3

_________________________________

(1) Primarily consists of credit card receivables.

The year of origination of the Company's financing receivables at December 31, 2022 as follows:



	Notes receivable, short and long-term		Lease Receivables		Equipment Receivables		Total
	(In millions)
2022	$	1.6	$	8.5	$	—	$	10.1
2021	10.1		2.5		—		12.6
2020	0.4		1.3		—		1.7
2019	—		0.7		—		0.7
2018	—		—		—		0.0
Prior	5.1		5.5		26.6		37.2
Total	$	17.2	$	18.5	$	26.6	$	62.3

The Company does not place its financing receivables in non-accrual status.

Property and Equipment

12 Months Ended

Dec. 31, 2022

Property, Plant and Equipment [Abstract]

Property and Equipment

Property and equipment by category at December 31, 2022 and 2021 were as follows:


	2022		2021
	(In millions)
Leaseholds and improvements	$	211.5	$	221.1
Properties under finance leases	56.7		94.6
Equipment and fixtures	41.5		52.5
Buildings and improvements	51.3		54.2
Land	47.8		51.3
Internal-use software	52.6		55.7
Construction in progress	17.6		5.5
Property and equipment, gross	479.0		534.9
Less: accumulated depreciation and amortization	(333.7)		(355.5)
Property and equipment, net	$	145.3	$	179.4

The Company recorded depreciation expense on property and equipment of $27.4 million, $29.2 million and $31.9 million for the years ended December 31, 2022, 2021 and 2020, respectively.

Accumulated depreciation and amortization includes accumulated amortization for properties under finance leases in the amount of $45.3 million and $52.7 million at December 31, 2022 and 2021, respectively.

Goodwill

12 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

The significant majority of the Company's goodwill arose from the November 29, 2007 acquisition of Applebee's. In October 2022, the disposition of assets of $4.6 million was related to the refranchising and sale of the restaurant assets of 69 Applebee's company-operated restaurants. In December 2022, the addition to goodwill of $7.0 million arose from the acquisition of Fuzzy's, which was determined to be a separate reporting unit. Changes in the carrying amount of goodwill for the years ended December 31, 2022, 2021 and 2020 are as follows:


	Applebee's Franchise Unit		Applebee's Company Unit		IHOP Franchise Unit		Fuzzy's Franchise Unit		Total
	(In millions)
Balance at December 31, 2019	$	328.4	$	4.6	$	10.8	$	—	$	343.8
Impairment loss	(92.2)		—		—		—		(92.2)
Balance at December 31, 2020	$	236.2	$	4.6	$	10.8	$	—	$	251.6
Balance at December 31, 2021	$	236.2	$	4.6	$	10.8	$	—	$	251.6
Disposition of assets	—		(4.6)		—		—		(4.6)
Business acquisition	—		—		—		7.0		7.0
Balance at December 31, 2022	$	236.2	$	—	$	10.8	$	7.0	$	254.0

Gross and net carrying amounts of goodwill at December 31, 2022 and 2021 are as follows:


	December 31, 2022						December 31, 2021
	Gross		Accumulated Impairment Loss		Net		Gross		Accumulated Impairment Loss		Net
	(In millions)
Applebee's Franchise Unit	$	686.7	$	(450.5)	$	236.2	$	686.7	$	(450.5)	$	236.2
Applebee's Company Unit	4.6		(4.6)		—		4.6		—		4.6
IHOP Franchise Unit	10.8		—		10.8		10.8		—		10.8
Fuzzy's Franchise Unit	7.0		—		7.0		—		—		—
Total	$	709.1	$	(455.1)	$	254.0	$	702.1	$	(450.5)	$	251.6

The Company assesses goodwill for impairment in accordance with its policy described in Note 2 - Basis of Presentation and Summary of Significant Accounting Policies.

The Company evaluates its goodwill and the indefinite-lived tradenames for impairment annually in the fourth quarter of each year or on an interim basis if events or changes in circumstances between annual tests indicate a potential impairment. Definite-lived intangible assets and long-lived tangible assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset or asset group may not be recoverable based on estimated undiscounted future cash flows.

2022 and 2021 Assessments

In the fourth quarters of 2022 and 2021, the Company performed qualitative assessments of its goodwill in accordance with its accounting policies. As result of the qualitative assessment, the Company concluded it was more likely than not that the fair values of each unit exceeded the respective carrying amounts and therefore, a quantitative test of impairment was not necessary.

2020 Assessment

Because of the risks and uncertainties associated with the COVID-19 pandemic, the Company performed an interim assessment to determine whether the impact of COVID-19 indicated a potential impairment to its goodwill and intangible assets. In the second quarter of 2020, the Company noted that its common stock had recovered less of its early March 2020 (pre-pandemic) market value than the overall U.S. stock market had recovered. The Company also was able to assess several months of data as to the impact of the COVID-19 pandemic on its operations and, in turn, assess the impact that might have on the risk premium incorporated into its discount rate. Based on these developments, the Company determined that an interim quantitative test for impairment of the goodwill of the Applebee's Franchise and Company units should be performed as of May 24, 2020. In determining fair value, the Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible. The fair value technique used in this instance is classified as Level 3, where unobservable inputs are used when little or no market data is available.

In performing the quantitative test for impairment of goodwill, the Company used the income approach method of valuation that includes the discounted cash flow method and the market approach that includes the guideline public company method to determine the fair value of goodwill and intangible assets. Significant assumptions made by management in estimating fair value under the discounted cash flow model include future trends in sales, operating expenses, overhead expenses, depreciation, capital expenditures and changes in working capital, along with an appropriate discount rate based on the Company's estimated cost of equity capital and after-tax cost of debt. Significant assumptions used to determine fair value under the guideline public company method include the selection of guideline companies and the valuation multiples applied.

As a result of performing the quantitative test of impairment, the Company recognized an impairment loss of $92.2 million in 2020 to the goodwill of the Applebee's Franchise unit. The majority of the impairment was due to an increase in the assessed risk premium incorporated into the discount rate assumption. There was no impairment of the Applebee's Company unit.

Other Intangible Assets

12 Months Ended

Dec. 31, 2022

Intangible Assets, Net (Excluding Goodwill) [Abstract]

Other Intangible Assets

The significant majority of the Company's other intangible assets arose from the November 29, 2007 acquisition of Applebee's. Changes in the carrying amounts for the years ended December 31, 2022, 2021 and 2020 are as follows:


	Not Subject to Amortization		Subject to Amortization
	Tradenames		Other		Franchising Rights		Reacquired Franchise Rights		Favorable Leaseholds		Total
	(In millions)




Balance at December 31, 2019	$	479.0	$	3.2	$	79.0	$	9.8	$	4.1	$	575.1
Impairment	(11.0)		—		—		(3.3)		(0.8)		(15.1)
Amortization expense	—		—		(10.0)		(0.8)		(0.1)		(10.9)
Additions	—		0.6		—		—		—		0.5
Balance at December 31, 2020	468.0		3.8		69.0		5.7		3.2		549.7

Amortization expense	—		—		(10.0)		(0.6)		(0.1)		(10.7)
Additions	—		0.4		—		—		—		0.4
Balance at December 31, 2021	468.0		4.2		59.0		5.1		3.1		539.4
Amortization expense	—		—		(10.0)		(0.4)		(0.1)		(10.6)
Additions	57.2		0.8		14.8		—		—		72.8
Disposition	—		—		—		(4.7)		—		(4.7)
Balance at December 31, 2022	$	525.2	$	5.0	$	63.8	$	—	$	3.0	$	597.0

In December 2022, the Company acquired Fuzzy's and recorded $57.2 million of tradename, $14.8 million of franchising rights and $0.5 million of recipes as intangible assets. Additions of other intangibles for the years ended December 31, 2022, 2021 and 2020 are individually insignificant. In October 2022, the $4.7 million disposition of assets was related to the refranchising and sale of the restaurant assets of 69 Applebee's company-operated restaurants.

Impairments in 2020

As discussed in Note 6 - Goodwill, the Company determined that indicators of impairment existed prior to the annual test for impairment and performed an interim quantitative test for impairment of Applebee's tradename and reacquired franchise rights in the second quarter of 2020. In performing the impairment test of the tradename, the Company used the relief of royalty method under the income approach method of valuation. Significant assumptions used to determine fair value under the relief of royalty method include future trends in sales, a royalty rate and a discount rate applied to the forecast revenue stream. As a result of performing the quantitative test of impairment, the Company recognized an impairment of $11.0 million to Applebee's tradename. The majority of the impairment was due to an increase in the assessed risk premium incorporated into the discount rate assumption. In addition, the Company determined that the carrying amounts of reacquired franchise rights and favorable leaseholds exceeded the estimated fair value by $3.3 million and $0.8 million, respectively, and recorded impairments to those intangible assets.

Annual amortization expense for the next five fiscal years is estimated to be approximately $14.4 million per year.

Gross and net carrying amounts of intangible assets subject to amortization at December 31, 2022 and 2021 are as follows:


	December 31, 2022						December 31, 2021
	Gross		Accumulated Amortization		Net		Gross		Accumulated Amortization		Net
	(In millions)
Franchising rights	$	214.8	$	(151.0)	$	63.8	$	200.0	$	(141.0)	$	59.0
Reacquired franchise rights	—		—		—		8.3		(3.2)		5.1
Favorable leaseholds	3.4		(0.4)		3.0		$	3.4	$	(0.3)	3.1
Total	$	218.2	$	(151.4)	$	66.8	$	211.7	$	(144.5)	$	67.2

In the fourth quarter of fiscal 2022 and 2021, the Company performed a qualitative assessment of the Applebee's tradename and concluded the fair value exceeded the carrying amount.

Long-Term Debt

12 Months Ended

Dec. 31, 2022

Debt Disclosure [Abstract]

Long-Term Debt

Long-term debt at December 31, 2022 and 2021 consists of the following components:


	2022		2021
	(In millions)
Series 2019-1 4.194% Fixed Rate Senior Secured Notes, Class A-2-I	$	653.0	$	693.0
Series 2019-1 4.723% Fixed Rate Senior Secured Notes, Class A-2-II	594.0		594.0
Series 2022-1 Variable Funding Class A-1, Variable Rate of 5.50% at December 31, 2022	100.0		—
Debt issuance costs	(5.1)		(7.4)
Long-term debt, net of debt issuance costs	1,341.9		1,279.6
Current portion of long-term debt	(100.0)		—
Long-term debt	$	1,241.9	$	1,279.6

Long-Term Debt

On June 5, 2019, Applebee’s Funding LLC and IHOP Funding LLC (the “Co-Issuers”), each a special purpose, wholly-owned indirect subsidiary of the Company, issued two tranches of fixed rate senior secured notes, the Series 2019-1 4.194% Fixed Rate Senior Secured Notes, Class A-2-I (“Class A-2-I Notes”) in an initial aggregate principal amount of $700 million and the Series 2019-1 4.723% Fixed Rate Senior Secured Notes, Class A-2-II (“Class A-2-II Notes”) in an initial aggregate principal amount of $600 million (the “Class A-2-II Notes” and, together with the Class A-2-I Notes, the “2019 Class A-2 Notes”). The 2019 Class A-2 Notes were issued pursuant to an offering exempt from registration under the Securities Act of 1933, as amended.

On August 12, 2022, the Co-Issuers established a new revolving financing facility, the 2022-1 Variable Funding Notes, Class A-1 (the “Credit Facility”), that allows for drawings up to $325 million of variable funding notes on a revolving basis and the issuance of letters of credit. In connection with this transaction, the Co-Issuers terminated their $225 million revolving financing facility, the 2019-1 Variable Funding Notes, Class A-1 (the “Previous Credit Facility”). The Credit Facility and the 2019 Class A-2 Notes are referred to collectively herein as the “Notes.” The Notes were issued in securitization transactions pursuant to which substantially all the domestic revenue-generating assets and domestic intellectual property held by the Co-Issuers and certain other special-purpose, wholly-owned indirect subsidiaries of the Company (the “Guarantors”) were pledged as collateral to secure the Notes.

The Notes were issued under a Base Indenture, dated as of September 30, 2014, and amended and restated as of June 5, 2019 (the “Base Indenture”). In addition, the 2019 Class A-2 Notes were issued under the related Series 2019-1 Supplement to the Base Indenture, dated June 5, 2019 (the “Series 2019-1 Supplement”), among the Co-Issuers and Citibank, N.A., as the trustee (in such capacity, the “Trustee”) and securities intermediary and the Credit Facility was issued under the related Series 2022-1 Supplement to the Base Indenture, dated August 12, 2022 (“Series 2022-1 Supplement”), among the Co-Issuers and Citibank, N.A., as Trustee and securities intermediary. The Base Indenture, Series 2019-1 Supplement and Series 2022-1 Supplement (collectively, the “Indenture”) will allow the Co-Issuers to issue additional series of notes in the future subject to certain conditions set forth therein.

2019 Class A-2 Notes

The legal final maturity of the 2019 Class A-2 Notes is in June 2049, but it is anticipated that, unless earlier prepaid to the extent permitted under the Indenture, the Class A-2-I Notes will be repaid in June 2024 (the “Class A-2-I Anticipated Repayment Date”) and the Class A-2-II Notes will be repaid in June 2026 (the “Class A-2-II Anticipated Repayment Date”). If the Co-Issuers have not repaid or refinanced the Class A-2-I Notes by the Class A-2-I Anticipated Repayment Date or the Class A-2-II Notes by the Class A-2-II Anticipated Repayment Date, then additional interest will accrue on the Class A-2-I Notes and the Class A-2-II Notes, as applicable, at the greater of: (A) 5.0% and (B) the amount, if any, by which the sum of the following exceeds the applicable Class A-2 Note interest rate: (x) the yield to maturity (adjusted to a quarterly bond-equivalent basis) on the applicable anticipated repayment date of the United States Treasury Security having a term closest to 10 years plus (y) 5.0%, plus (z) 2.15% for the Class A-2-I Notes and 2.64% for the Class A-2-II Notes.

While the 2019 Class A-2 Notes are outstanding, payment of principal and interest is required to be made on the 2019 Class A-2 Notes on a quarterly basis. The payment of principal on the 2019 Class A-2 Notes may be suspended when the leverage ratio for the Company and its subsidiaries is less than or equal to 5.25x. Exceeding the leverage ratio of 5.25x does not violate any covenant related to the Notes. In general, the leverage ratio is the Company's indebtedness (as defined in the

Indenture) divided by adjusted EBITDA (as defined in the Indenture) for the four preceding quarterly periods. The complete definitions of all calculation elements of the leverage ratio are contained in the Indenture.

As of December 31, 2022 the Company's leverage ratio was 4.4x. As a result, quarterly principal payments on the 2019 Class A-2 Notes of $3.25 million currently are not required. During fiscal 2021, the Company's leverage ratio exceeded 5.25x until the quarterly payment period ended September 30, 2021. Accordingly, the Company made three principal payments totaling $9.75 million in fiscal 2021.

The Company may voluntarily repay the 2019 Class A-2 Notes at any time; however, if the 2019 Class A-2 Notes are repaid prior to certain dates, the Company would be required to pay make-whole premiums. As of December 31, 2022, the make-whole premium associated with voluntary prepayment of the Class A-2-I Notes was zero and will remain as such. As of December 31, 2022, the make-whole premium associated with voluntary prepayment of the Class A-2-II Notes was approximately $0.5 million; this amount declines each quarter to zero in June 2024. The Company would also be subject to a make-whole premium in the event of a mandatory prepayment required following a Rapid Amortization Event (as defined in the Indenture) or certain asset dispositions. The mandatory make-whole premium requirements are considered derivatives embedded in the New Notes that must be bifurcated for separate valuation. The Company estimated the fair value of these derivatives to be immaterial as of December 31, 2022, based on the probability-weighted discounted cash flows associated with either event.

2019 Class A-1 Notes

The Previous Credit Facility allowed for drawings up to $225 million of variable funding notes on a revolving basis and the issuance of letters of credit. In March 2020, the Company borrowed $220.0 million against the Previous Credit Facility. The $220.0 million was repaid on March 5, 2021, and as of December 31, 2021, there were no outstanding borrowings under the Previous Credit Facility.

The interest rate for borrowings under the Previous Credit Facility was the three-month LIBOR rate plus 2.15% for 60% of the advances and the commercial paper funding rate of our conduit investor plus 2.15% for 40% of the advances. The weighted average interest rate for the period outstanding during the year ended December 31, 2021 was 2.42%.

2022 Class A-1 Notes

In August 2022, the Co-Issuers entered into the Credit Facility that allows for drawings up to $325 million of variable funding notes on a revolving basis and the issuance of letters of credit. The applicable interest rate under the Credit Facility depends on the type of borrowing by the Co-Issuers. The applicable interest rate for advances is generally calculated at a per annum rate equal to the commercial paper funding rate or one-, two-, three- or six-month Term SOFR Rate, in either case, plus 2.50%. The applicable interest rate for swingline advances and unreimbursed draws on outstanding letters of credit is a per annum base rate equal to the sum of (a) the greatest of (i) the Prime Rate in effect from time to time; (ii) the Federal Funds Rate in effect from time to time plus 0.50%; and (iii) Term SOFR for a one-month tenor in effect at such time plus 0.50% plus (b) 2.00%.

The legal final maturity of the Credit Facility is June 2052, but amortization will apply if there are outstanding amounts under the Credit Facility after June 2027 (the “Class A-1 Renewal Date”). The Class A-1 Renewal Date may be extended at the Co-Issuers’ election for up to two successive one-year periods if certain conditions are met. If the Co-Issuers have not repaid or refinanced the Credit Facility by the Class A-1 Renewal Date (after giving effect to any extensions), then interest will accrue on the Credit Facility at a rate equal to 5.00% in addition to the regular interest rate applicable to the Credit Facility.

In August 2022, the Company borrowed $100 million against the Credit Facility, all of which was outstanding at December 31, 2022. The amount of $3.4 million was pledged against the Credit Facility for outstanding letters of credit, leaving $221.6 million of the Credit Facility available for borrowing at December 31, 2022. It is anticipated that any principal and interest on the Credit Facility outstanding will be repaid in full on or prior to the quarterly payment date in June 2027, subject to two additional one-year extensions at the option of the Company upon the satisfaction of certain conditions. The letters of credit are used primarily to satisfy insurance-related collateral requirements. The weighted average interest rate for the period outstanding during the year ended December 31, 2022 was 3.64%.

Management Agreement

Under the terms of the Management Agreement, dated September 30, 2014, as amended and restated as of September 5, 2018, as further amended and restated as of June 5, 2019 and as amended by that certain Amendment No. 1 to Management Agreement dated November 21, 2019, among the Co-Issuers and the Guarantors (collectively, the “Securitization Entities”), the Company, Applebee’s Services, Inc., International House of Pancakes, LLC and the Trustee, the Company will act as the

manager with respect to substantially all of the assets of the Securitization Entities (the “Securitized Assets”). The primary responsibilities of the manager will be to perform certain franchising, distribution, intellectual property and operational functions on behalf of the Securitization Entities with respect to the Securitized Assets pursuant to the Management Agreement. The manager will be entitled to the payment of the weekly management fee, as set forth in the Management Agreement and will be subject to the liabilities set forth in the Management Agreement. The Company, as Manager, voluntarily began waiving its receipt of the weekly management fee in April 2020 and resumed its receiving the weekly management fee in July 2020.

Covenants and Restrictions

The New Notes are subject to a series of covenants and restrictions customary for transactions of this type, including: (i) that the Co-Issuers maintain specified reserve accounts to be used to make required payments in respect of the New Notes, (ii) provisions relating to optional and mandatory prepayments, and the related payment of specified amounts, including specified call redemption premiums in the case of Class A-2 Notes under certain circumstances; (iii) certain indemnification payments in the event, among other things, the transfers of the assets pledged as collateral for the New Notes are in stated ways defective or ineffective and (iv) covenants relating to recordkeeping, access to information and similar matters. The New Notes are subject to customary rapid amortization events provided for in the Indenture, including events tied to failure of the Securitization Entities to maintain the stated debt service coverage ratio (“DSCR”), the sum of domestic retail sales for all restaurants being below certain levels on certain measurement dates, certain manager termination events, certain events of default and the failure to repay or refinance the Class A-2 Notes on the anticipated repayment dates. The New Notes are also subject to certain customary events of default, including events relating to non-payment of required interest, principal or other amounts due on or with respect to the New Notes, failure of the Securitization Entities to maintain the stated DSCR, failure to comply with covenants within certain time frames, certain bankruptcy events, breaches of specified representations and warranties and certain judgments.

In general, the DSCR ratio is Net Cash Flow (as defined in the Indenture) for the four quarters preceding the calculation date divided by the total debt service payments (as defined in the Indenture) of the preceding four quarters. The complete definitions of the DSCR and all calculation elements are contained in the Indenture. Failure to maintain a prescribed DSCR can trigger a Cash Flow Sweeping Event, a Rapid Amortization Event, a Manager Termination Event or a Default Event as described below. In a Cash Flow Sweeping Event, the Trustee is required to retain 50% of excess Cash Flow (as defined in the Indenture) in a restricted account. In a Rapid Amortization Event, all excess Cash Flow is retained and used to retire principal amounts of debt. In a Manager Termination Event, the Company may be replaced as manager of the assets securitized under the Indenture. In a Default Event, the outstanding principal amount and any accrued but unpaid interest can be called to become immediately due and payable. Key DSCRs are as follows:

•DSCR less than 1.75x - Cash Flow Sweeping Event

•DSCR less than 1.20x - Rapid Amortization Event

•Interest-only DSCR less than 1.20x - Manager Termination Event

•Interest-only DSCR less than 1.10x - Default Event

The Company's DSCR for the reporting period ended December 31, 2022 was approximately 4.1x.

(Gain)/Loss on Extinguishment of Debt

In connection with the termination of the Previous Credit Facility during the year ended December 31, 2022, the Company recognized a loss on extinguishment of debt of $1.2 million, representing the remaining unamortized debt issuance costs associated with the Previous Credit Facility. In addition, the Company purchased $40.0 million of its 2019 Class A-2 Notes under par and recognized a $1.4 million gain on extinguishment of debt during the three months ended December 31, 2022.

Debt Issuance Costs

2022 Class A-1 Notes

In August 2022, the Company incurred costs of approximately $6.3 million in connection with the issuance of the Credit Facility. These debt issuance costs are being amortized over the estimated life of the Credit Facility. Amortization of $0.4 million of these costs was included in interest expense for the year ended December 31, 2022. Unamortized debt issuance costs of $5.9 million related to the Credit Facility are classified as other non-current assets in the Consolidated Balance Sheets.

2019 Class A-2 Notes

The Company incurred costs of approximately $12.9 million in connection with the issuance of the 2019 Class A-2 Notes. These debt issuance costs are being amortized using the effective interest method over estimated life of each tranche of the 2019 Class A-2 Notes. Amortization costs of $2.4 million, $2.2 million, and $2.1 million included in interest expense for the years ended December 31, 2022, 2021 and 2020, respectively. Unamortized debt issuance costs of $5.1 million are reported as a direct reduction of the Class A-2 Notes in the Consolidated Balance Sheets.

Amortization costs incurred in connection with the Previous Credit Facility of $0.4 million, $0.6 million, and $0.6 million were included in interest expense for the years ended December 31, 2022, 2021 and 2020, respectively.

Total unamortized debt issuance costs of $1.5 million related to the Previous Credit Facility were classified as other long-term assets because there are no borrowings outstanding against the Credit Facility at December 31, 2021.

Maturities of Long-term Debt

•The legal final maturity of the Class A-2 Notes is in June 2049, but it is anticipated that, unless repaid earlier, the Class A-2-I Notes will be repaid in June 2024 and the Class A-2-II Notes will be repaid in June 2026.

•The renewal date of the Credit Facility is June 2027, subject to two additional one-year extensions at the option of the Company upon the satisfaction of certain conditions.

•Quarterly principal payments on the Class A-2-I and Class A-2-II Notes totaling $3.25 million ($13.0 million per annum) are required if the Company's leverage ratio is greater than 5.25x.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-URI https://asc.fasb.org/topic&trid=2208564

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (h)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1C
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1I
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1I
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (g)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1C
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1C
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1E
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495348-112611

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1I
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (i)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

+ Details

Financing Obligations

12 Months Ended

Dec. 31, 2022

Leases [Abstract]

Financing Obligations

On May 19, 2008, the Company entered into a Purchase and Sale Agreement relating to the sale and leaseback of 181 parcels of real property (the “Sale-Leaseback Transaction”), each of which is improved with a restaurant operating as an Applebee's Neighborhood Grill and Bar (the “Properties”). On June 13, 2008, the closing date of the Sale-Leaseback Transaction, the Company entered into a Master Land and Building Lease (“Master Lease”) for the Properties. The proceeds received from the transaction were $337.2 million. The Master Lease calls for an initial term of twenty years and four, five-year options to extend the term.

The Sale-Leaseback Transaction does not qualify as a sale under current U.S. GAAP. Accordingly, the Sale-Leaseback Transaction continues to be recorded under the financing method. The value of the land and leasehold improvements will remain on the Company's books and the leasehold improvements will continue to be depreciated over their remaining useful lives. The net proceeds received were recorded as a financing obligation. A portion of the lease payments is recorded as a decrease to the financing obligation and a portion is recognized as interest expense. In the event the lease obligation of any individual property or group of properties is assumed by a qualified franchisee, the portion of the transaction related to that property or group of properties is recorded as a sale in accordance with U.S. GAAP and the net book value of those properties will be removed from the Company's books, along with a ratable portion of the remaining financing obligation.

As of December 31, 2022, the portion of the original Sale-Leaseback Transaction related to 160 of the 181 Properties has qualified as a sale by assignment of the lease obligation to a qualified franchisee or a release from the lessor. In accordance with the accounting described above, the property and equipment and financing obligations have each been cumulatively reduced by approximately $286.9 million.

As of December 31, 2022, future minimum lease payments under financing obligations during the initial terms of the leases related to the sale-leaseback transactions are as follows:


Fiscal Years	(In millions)
2023	$	4.0
2024	4.6
2025	4.6
2026	4.9
2027	4.6
Thereafter	22.5
Total minimum lease payments	45.2
Less: interest	(15.8)
Total financing obligations	29.4
Less: current portion(1)	(1.0)
Long-term financing obligations	$	28.4

_________________________________

(1)Included in current maturities of finance lease and financing obligations on the consolidated balance sheets.

Leases

12 Months Ended

Dec. 31, 2022

Leases [Abstract]

Leases

The Company engages in leasing activity as both a lessee and a lessor. The majority of the Company's lease portfolio originated when the Company was actively involved in the development and financing of IHOP restaurants prior to the franchising of the restaurant to the franchisee. This activity included the Company's purchase or leasing of the site on which the restaurant was located and subsequently leasing/subleasing the site to the franchisee. With a few exceptions, the Company ended this practice in 2003 and the Company's current lease activity is predominantly comprised of renewals of existing lease arrangements and exercises of options on existing lease arrangements.

The Company currently leases from third parties the real property on which approximately 530 IHOP franchisee-operated restaurants and one Applebee's franchisee-operated restaurant are located; the Company (as lessor) subleases the property to the franchisees that operate those restaurants. The Company also leases property it owns to the franchisees that operate 52 IHOP restaurants and one Applebee's restaurant. The Company leases from third parties the real property on which company-operated restaurants are located. The Company also leases office space for its principal corporate office in Glendale, California and will be moving to Pasadena, California. In addition, the Company leases office space for restaurant support centers in Leawood, Kansas and Irving, Texas. The Company does not have a significant amount of non-real estate leases.

The Company's existing leases/subleases related to IHOP restaurants generally provide for an initial term of 20 to 25 years, with most having one or more five-year renewal options. Leases related to Applebee's restaurants generally have an initial term of 10 to 20 years, with renewal terms of five to 20 years. Option periods were not included in determining liabilities and right-of-use assets related to operating leases. Restaurants associated with approximately 325 of the Company's leases met the sales levels that required variable rent payments to the Company (as lessor), based on a percentage of restaurant sales in 2022. Restaurants associated with approximately 65 of the Company's leases met the sales levels that required variable rent payments by the Company (as lessee), based on a percentage of restaurant sales in 2022.

The individual lease agreements do not provide information to determine the implicit interest rate in the agreements. The Company made significant judgments in determining the incremental borrowing rates that were used in calculating operating lease liabilities. Due to the large number of leases, the Company applied a portfolio approach by grouping the leases based on the original lease term. The Company estimated the interest rate for each grouping primarily by reference to (i) yield rates on debt issuances by companies of a similar credit rating as the Company; (ii) U.S. Treasury rates as of the adoption date; and (iii) adjustments for differences in years to maturity.

The Company's lease cost for the years ended December 31, 2022, 2021, and 2020 was as follows:


	Year Ended December 31,
	2022		2021		2020
Finance lease cost:	(In millions)
Amortization of right-of-use assets	$	3.6	$	4.6	$	5.0
Interest on lease liabilities	4.5		5.4		6.6
Operating lease cost(1)	83.5		84.4		90.6
Variable lease cost	7.6		7.0		0.8
Short-term lease cost	0.0		0.1		0.0
Sublease income	(106.8)		(104.6)		(96.8)
Lease cost	$	(7.6)	$	(3.1)	$	6.2

_________________________________

(1) Operating lease cost for the years ended December 31, 2021 and 2020 previously disclosed as $98.7 million and $109.8 million, respectively, were overstated due to the inclusion of certain finance lease activity. The correct operating lease cost for the years ended December 31, 2021 and 2020 was $84.4 million and $90.6 million, respectively, as reflected in the above table. The overstatement only impacted this note disclosure, and there was no impact to the Consolidated Statement of Comprehensive Income.

Future minimum lease payments under noncancellable leases as lessee as of December 31, 2022 were as follows:


	Finance Leases		Operating Leases
	(In millions)
2023	$	8.8	$	63.7
2024	7.3		74.3
2025	5.9		63.9
2026	5.3		55.3
2027	4.3		37.1
Thereafter	16.3		110.0
Total minimum lease payments	47.9		404.3
Less: interest/imputed interest	(10.9)		(70.1)
Total obligations	37.0		334.2
Less: current portion	(6.6)		(59.1)
Long-term lease obligations	$	30.4	$	275.1

The weighted average remaining lease term as of December 31, 2022 was 7.41 years for finance leases and 6.25 years for operating leases. The weighted average discount rate as of December 31, 2022 was 10.5% for finance leases and 5.5% for operating leases.

During the years ended December 31, 2022, 2021 and 2020, the Company made the following cash payments for leases:


	Year Ended December 31,
	2022		2021		2020
	(In millions)
Principal payments on finance lease obligations	$	8.9	$	10.2	$	12.5
Interest payments on finance lease obligations	$	4.5	$	5.4	$	6.6
Payments on operating leases	$	83.5	$	91.7	$	101.1
Variable lease payments	$	7.6	$	6.2	$	0.7

The Company's income from operating leases for the years ended December 31, 2022, 2021 and 2020 was as follows:


	Year Ended December 31,
	2022		2021		2020
	(In millions)
Minimum lease payments	$	96.4	$	96.0	$	97.2
Variable lease income	16.9		15.3		5.2
Total operating lease income	$	113.3	$	111.3	$	102.4

Future minimum payments to be received as lessor under noncancellable operating leases as of December 31, 2022 were as follows:



	(In millions)
2023	$	103.6
2024	94.8
2025	82.1
2026	67.6
2027	49.5
Thereafter	122.0
Total minimum rents receivable	$	519.6

The Company's income from real estate leases receivable at December 31, 2022, 2021 and 2020 was as follows:


	Year Ended December 31,
	2022		2021		2020
	(In millions)
Selling profit	$	0.9	$	—	$	—
Interest income	1.5		2.1		3.4
Variable lease income	0.7		0.5		0.3
Total financing lease income	$	3.1	$	2.6	$	3.7

Future minimum payments to be received as lessor under noncancellable real estate leases as of December 31, 2022 were as follows:



	(In millions)
2023	$	4.7
2024	2.6
2025	1.8
2026	1.8
2027	1.8
Thereafter	12.4
Total minimum rents receivable	25.1
Less: unearned income	(6.6)
Total real estate leases receivable	18.5
Less: current portion	(3.6)
Long-term real estate leases receivable	$	14.9

Leases

The Company's lease cost for the years ended December 31, 2022, 2021, and 2020 was as follows:


	Year Ended December 31,
	2022		2021		2020
Finance lease cost:	(In millions)
Amortization of right-of-use assets	$	3.6	$	4.6	$	5.0
Interest on lease liabilities	4.5		5.4		6.6
Operating lease cost(1)	83.5		84.4		90.6
Variable lease cost	7.6		7.0		0.8
Short-term lease cost	0.0		0.1		0.0
Sublease income	(106.8)		(104.6)		(96.8)
Lease cost	$	(7.6)	$	(3.1)	$	6.2

_________________________________

Future minimum lease payments under noncancellable leases as lessee as of December 31, 2022 were as follows:


	Finance Leases		Operating Leases
	(In millions)
2023	$	8.8	$	63.7
2024	7.3		74.3
2025	5.9		63.9
2026	5.3		55.3
2027	4.3		37.1
Thereafter	16.3		110.0
Total minimum lease payments	47.9		404.3
Less: interest/imputed interest	(10.9)		(70.1)
Total obligations	37.0		334.2
Less: current portion	(6.6)		(59.1)
Long-term lease obligations	$	30.4	$	275.1

During the years ended December 31, 2022, 2021 and 2020, the Company made the following cash payments for leases:


	Year Ended December 31,
	2022		2021		2020
	(In millions)
Principal payments on finance lease obligations	$	8.9	$	10.2	$	12.5
Interest payments on finance lease obligations	$	4.5	$	5.4	$	6.6
Payments on operating leases	$	83.5	$	91.7	$	101.1
Variable lease payments	$	7.6	$	6.2	$	0.7

The Company's income from operating leases for the years ended December 31, 2022, 2021 and 2020 was as follows:


	Year Ended December 31,
	2022		2021		2020
	(In millions)
Minimum lease payments	$	96.4	$	96.0	$	97.2
Variable lease income	16.9		15.3		5.2
Total operating lease income	$	113.3	$	111.3	$	102.4

Future minimum payments to be received as lessor under noncancellable operating leases as of December 31, 2022 were as follows:



	(In millions)
2023	$	103.6
2024	94.8
2025	82.1
2026	67.6
2027	49.5
Thereafter	122.0
Total minimum rents receivable	$	519.6

The Company's income from real estate leases receivable at December 31, 2022, 2021 and 2020 was as follows:


	Year Ended December 31,
	2022		2021		2020
	(In millions)
Selling profit	$	0.9	$	—	$	—
Interest income	1.5		2.1		3.4
Variable lease income	0.7		0.5		0.3
Total financing lease income	$	3.1	$	2.6	$	3.7

Future minimum payments to be received as lessor under noncancellable real estate leases as of December 31, 2022 were as follows:



	(In millions)
2023	$	4.7
2024	2.6
2025	1.8
2026	1.8
2027	1.8
Thereafter	12.4
Total minimum rents receivable	25.1
Less: unearned income	(6.6)
Total real estate leases receivable	18.5
Less: current portion	(3.6)
Long-term real estate leases receivable	$	14.9

Leases

The Company's lease cost for the years ended December 31, 2022, 2021, and 2020 was as follows:


	Year Ended December 31,
	2022		2021		2020
Finance lease cost:	(In millions)
Amortization of right-of-use assets	$	3.6	$	4.6	$	5.0
Interest on lease liabilities	4.5		5.4		6.6
Operating lease cost(1)	83.5		84.4		90.6
Variable lease cost	7.6		7.0		0.8
Short-term lease cost	0.0		0.1		0.0
Sublease income	(106.8)		(104.6)		(96.8)
Lease cost	$	(7.6)	$	(3.1)	$	6.2

_________________________________

Future minimum lease payments under noncancellable leases as lessee as of December 31, 2022 were as follows:


	Finance Leases		Operating Leases
	(In millions)
2023	$	8.8	$	63.7
2024	7.3		74.3
2025	5.9		63.9
2026	5.3		55.3
2027	4.3		37.1
Thereafter	16.3		110.0
Total minimum lease payments	47.9		404.3
Less: interest/imputed interest	(10.9)		(70.1)
Total obligations	37.0		334.2
Less: current portion	(6.6)		(59.1)
Long-term lease obligations	$	30.4	$	275.1

During the years ended December 31, 2022, 2021 and 2020, the Company made the following cash payments for leases:


	Year Ended December 31,
	2022		2021		2020
	(In millions)
Principal payments on finance lease obligations	$	8.9	$	10.2	$	12.5
Interest payments on finance lease obligations	$	4.5	$	5.4	$	6.6
Payments on operating leases	$	83.5	$	91.7	$	101.1
Variable lease payments	$	7.6	$	6.2	$	0.7

The Company's income from operating leases for the years ended December 31, 2022, 2021 and 2020 was as follows:


	Year Ended December 31,
	2022		2021		2020
	(In millions)
Minimum lease payments	$	96.4	$	96.0	$	97.2
Variable lease income	16.9		15.3		5.2
Total operating lease income	$	113.3	$	111.3	$	102.4

Future minimum payments to be received as lessor under noncancellable operating leases as of December 31, 2022 were as follows:



	(In millions)
2023	$	103.6
2024	94.8
2025	82.1
2026	67.6
2027	49.5
Thereafter	122.0
Total minimum rents receivable	$	519.6

The Company's income from real estate leases receivable at December 31, 2022, 2021 and 2020 was as follows:


	Year Ended December 31,
	2022		2021		2020
	(In millions)
Selling profit	$	0.9	$	—	$	—
Interest income	1.5		2.1		3.4
Variable lease income	0.7		0.5		0.3
Total financing lease income	$	3.1	$	2.6	$	3.7

Future minimum payments to be received as lessor under noncancellable real estate leases as of December 31, 2022 were as follows:



	(In millions)
2023	$	4.7
2024	2.6
2025	1.8
2026	1.8
2027	1.8
Thereafter	12.4
Total minimum rents receivable	25.1
Less: unearned income	(6.6)
Total real estate leases receivable	18.5
Less: current portion	(3.6)
Long-term real estate leases receivable	$	14.9

Leases

The Company's lease cost for the years ended December 31, 2022, 2021, and 2020 was as follows:


	Year Ended December 31,
	2022		2021		2020
Finance lease cost:	(In millions)
Amortization of right-of-use assets	$	3.6	$	4.6	$	5.0
Interest on lease liabilities	4.5		5.4		6.6
Operating lease cost(1)	83.5		84.4		90.6
Variable lease cost	7.6		7.0		0.8
Short-term lease cost	0.0		0.1		0.0
Sublease income	(106.8)		(104.6)		(96.8)
Lease cost	$	(7.6)	$	(3.1)	$	6.2

_________________________________

Future minimum lease payments under noncancellable leases as lessee as of December 31, 2022 were as follows:


	Finance Leases		Operating Leases
	(In millions)
2023	$	8.8	$	63.7
2024	7.3		74.3
2025	5.9		63.9
2026	5.3		55.3
2027	4.3		37.1
Thereafter	16.3		110.0
Total minimum lease payments	47.9		404.3
Less: interest/imputed interest	(10.9)		(70.1)
Total obligations	37.0		334.2
Less: current portion	(6.6)		(59.1)
Long-term lease obligations	$	30.4	$	275.1

During the years ended December 31, 2022, 2021 and 2020, the Company made the following cash payments for leases:


	Year Ended December 31,
	2022		2021		2020
	(In millions)
Principal payments on finance lease obligations	$	8.9	$	10.2	$	12.5
Interest payments on finance lease obligations	$	4.5	$	5.4	$	6.6
Payments on operating leases	$	83.5	$	91.7	$	101.1
Variable lease payments	$	7.6	$	6.2	$	0.7

The Company's income from operating leases for the years ended December 31, 2022, 2021 and 2020 was as follows:


	Year Ended December 31,
	2022		2021		2020
	(In millions)
Minimum lease payments	$	96.4	$	96.0	$	97.2
Variable lease income	16.9		15.3		5.2
Total operating lease income	$	113.3	$	111.3	$	102.4

Future minimum payments to be received as lessor under noncancellable operating leases as of December 31, 2022 were as follows:



	(In millions)
2023	$	103.6
2024	94.8
2025	82.1
2026	67.6
2027	49.5
Thereafter	122.0
Total minimum rents receivable	$	519.6

The Company's income from real estate leases receivable at December 31, 2022, 2021 and 2020 was as follows:


	Year Ended December 31,
	2022		2021		2020
	(In millions)
Selling profit	$	0.9	$	—	$	—
Interest income	1.5		2.1		3.4
Variable lease income	0.7		0.5		0.3
Total financing lease income	$	3.1	$	2.6	$	3.7

Future minimum payments to be received as lessor under noncancellable real estate leases as of December 31, 2022 were as follows:



	(In millions)
2023	$	4.7
2024	2.6
2025	1.8
2026	1.8
2027	1.8
Thereafter	12.4
Total minimum rents receivable	25.1
Less: unearned income	(6.6)
Total real estate leases receivable	18.5
Less: current portion	(3.6)
Long-term real estate leases receivable	$	14.9

Commitments and Contingencies	12 Months Ended
Commitments and Contingencies	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Purchase Commitments In some instances, the Company enters into commitments to purchase advertising and other items. Most of these agreements are fixed price purchase commitments. At December 31, 2022, the outstanding purchase commitments were $95.6 million, of which $86.3 million related to advertising commitments over the next twelve months. Lease Guarantees In connection with the sale of Applebee's restaurants to franchisees and other parties, the Company has, in certain cases, guaranteed or had potential continuing liability for lease payments. The Company had outstanding lease guarantees or was contingently liable for approximately $445.1 million and $223.1 million as of December 31, 2022 and 2021, respectively. These amounts represent the maximum potential liability of future payments under these leases. These leases have been assigned to the buyers and expire at the end of the respective lease terms, which range from 2023 through 2058. Excluding unexercised option periods, the Company's potential liability for future payments under these leases as of December 31, 2022 was $102.9 million. In the event of default, the indemnity and default clauses in our sale or assignment agreements govern our ability to pursue and recover damages incurred. No material liabilities for these guarantees have been recorded as of December 31, 2022. Litigation, Claims and Disputes The Company is subject to various lawsuits, governmental inspections, administrative proceedings, audits, and claims arising in the ordinary course of business. Some of these lawsuits purport to be class actions and/or seek substantial damages. The Company is required to record an accrual for litigation loss contingencies that are both probable and reasonably estimable. Legal fees and expenses associated with the defense of the Company's litigation are expensed as such fees and expenses are incurred. In the opinion of management, these matters are adequately covered by insurance or, if not so covered, are without merit or are of such a nature or involve amounts that would not have a material adverse impact on the Company's business or consolidated financial statements. Management regularly assesses the Company's insurance deductibles, analyzes litigation information with the Company's attorneys and evaluates its loss experience in connection with pending legal proceedings. While the Company does not presently believe that any of the legal proceedings to which the Company is currently a party will ultimately have a material adverse impact on the Company, there can be no assurance that the Company will prevail in all the proceedings the Company is party to, or that the Company will not incur material losses from them. Letters of Credit The Company provides letters of credit, primarily to various insurance carriers to collateralize obligations for outstanding claims. As of December 31, 2022, the Company had approximately $3.4 million of unused letters of credit outstanding that reduce the Company's available borrowing under its 2022 Class A-1 Notes. These letters of credit expire on various dates in 2023 and are automatically renewed for an additional year if no cancellation notice is submitted.

Stockholders' Deficit

12 Months Ended

Dec. 31, 2022

Equity [Abstract]

Stockholders' Deficit

Stock Repurchase Programs

In February 2019, the Company’s Board of Directors approved a stock repurchase program authorizing the Company to repurchase up to $200 million of the Company’s common stock (the “2019 Repurchase Program”) on an opportunistic basis from time to time in the open market or in privately negotiated transactions based on business, market, applicable legal requirements and other considerations. The 2019 Repurchase Program, as approved by the Board of Directors, does not require the repurchase of a specific number of shares and can be terminated at any time.

On February 17, 2022, the Company's Board of Directors authorized a new share repurchase program, effective April 1, 2022, of up to $250 million (the “2022 Repurchase Program”). In connection with the approval of the 2022 Repurchase Program, the 2019 Repurchase Program terminated effective April 1, 2022. In 2022, the Company repurchased 588,108 shares of common stock at a cost of $41.4 million under the 2019 Repurchase Program through April 1, 2022.

A summary of shares repurchased under the 2022 Repurchase Program and the 2019 Repurchase Program, during the years ended December 31, 2022, 2021 and 2020, and cumulatively for each program, is as follows:


	Shares	Cost of shares
		(In millions)
2022 Repurchase Program
Repurchased during the year ended December 31, 2022	1,149,589	$	78.7
Cumulative (life-of-program) repurchases	1,149,589	$	78.7
Remaining dollar value of shares that may be repurchased	n/a	$	171.3

2019 Repurchase Program

Repurchased during the year ended December 31, 2022	588,108	$	41.4
Repurchased during the year ended December 31, 2021	59,099	$	4.5
Repurchased during the year ended December 31, 2020	459,899	$	26.5

Cumulative (life-of-program) repurchases	2,344,804	$	175.8
Remaining dollar value of shares that may be repurchased	n/a	$	24.2

Dividends

During the fiscal years ended December 31, 2022, 2021 and 2020, the Company declared and paid dividends on common stock as follows:


Year ended December 31, 2022	Declaration Date	Payment Date	Dividends declared per share		Dividends paid per share		Total dividends paid(1)
							(In millions)
Payment of prior year declaration	(3)	January 7, 2022	$	—	$	0.40	$	6.9
First quarter	February 17, 2022	April 1, 2022	0.46		0.46		7.8
Second quarter	May 12, 2022	July 8, 2022	0.51		0.51		8.2
Third quarter	September 9, 2022	September 30, 2022	0.51		0.51		8.1
Fourth quarter	December 2, 2022	(2)	0.51		—		—
Total			$	1.99	$	1.88	$	31.0


Year ended December 31, 2021	Declaration Date	Payment Date	Dividends declared per share		Dividends paid per share		Total dividends paid(1)




Fourth quarter	December 20, 2021	(3)	$	0.40	$	—	$	—
Total			$	0.40	$	—	$	—


Year ended December 31, 2020	Declaration Date	Payment Date	Dividends declared per share		Dividends paid per share		Total dividends paid(1)
Payment of prior year declaration	(4)	January 10, 2020	$	—	$	0.69	$	11.7
First quarter	February 20, 2020	April 3, 2020	0.76		0.76		12.7



Total			$	0.76	$	1.45	$	24.4

(1) Includes dividend equivalents paid on restricted stock units.

(2) The fourth quarter 2022 dividend of $8.0 million was paid on January 6, 2023.

(3) The fourth quarter 2021 dividend of $6.9 million was paid on January 7, 2022.

(4) The fourth quarter 2019 dividend of $11.7 million was paid on January 10, 2020.

Dividends declared on common stock are recorded as a reduction of retained earnings to the extent retained earnings are available at the close of the period prior to the date of the declared dividend. Dividends in excess of retained earnings are recorded as a reduction of additional paid-in capital. All dividends declared during the fiscal years ended December 31, 2022, 2021 and 2020 were declared from retained earnings.

Treasury StockRepurchases of the Company's common stock are included in treasury stock at the cost of shares repurchased plus any transaction costs. Treasury stock may be re-issued when vested stock options are exercised, when restricted stock awards are granted and when restricted stock units settle in stock upon vesting. The cost of treasury stock re-issued is determined on the first-in, first-out (“FIFO”) method. The Company re-issued 205,293 shares, 660,718 shares and 433,477 shares, respectively, during the years ended December 31, 2022, 2021 and 2020 at a total FIFO cost of $9.6 million, $26.8 million and $19.4 million, respectively

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Closure and Long-lived Tangible Asset Impairment Charges

12 Months Ended

Dec. 31, 2022

Restructuring Charges [Abstract]

Closure and Long-lived Tangible Asset Impairment Charges

Closure and long-lived tangible asset impairment charges for the years ended December 31, 2022, 2021 and 2020 were as follows:


	Year Ended December 31,
	2022		2021		2020
	(In millions)
Closure charges	$	1.7	$	3.7	$	3.0
Long-lived tangible asset impairment	1.4		1.7		22.3
Total closure and long-lived tangible asset impairment charges	$	3.1	$	5.4	$	25.3

Closure Charges

The closure charges of $1.7 million for the year ended December 31, 2022 comprised $0.4 million related to three IHOP restaurants closed in fiscal 2022 and $1.3 million for revisions to existing closure reserves, including accretion, primarily for approximately 40 IHOP restaurants closed prior to December 31, 2021.

The closure charges of $3.7 million for the year ended December 31, 2021 comprised $2.1 million related to 20 IHOP restaurants closed in 2021 and $1.6 million for revisions to existing closure reserves, including accretion, primarily for 28 IHOP restaurants closed prior to December 31, 2020. Approximately $1.6 million of closure charges for the year ended December 31, 2020 related to seven IHOP restaurants closed during 2020, with the remainder primarily related to adjustments to the reserve for IHOP and Applebee's restaurants closed prior to 2020.

Long-lived Tangible Asset Impairment

The long-lived asset impairment of $1.4 million for the year ended December 31, 2022 related to five IHOP

franchisee-operated restaurants for which the carrying amount exceeded the future projected cash flows. The primary method of estimating fair value is based on a discounted cash flow analysis. The Company also considers factors such as the number of years the restaurant has been in operation, sales trends, cash flow trends, remaining lease life and other factors which apply on a case-by-case basis. For locations owned by the Company, current purchase offers, if any, or valuations from independent third party sources are utilized, if available. The analysis is performed at the restaurant level for indicators of permanent impairment. The impairment recorded represented the difference between the carrying value and the estimated fair value. The impairments primarily related to operating lease right-of-use assets.

The long-lived asset impairment of $1.7 million for the year ended December 31, 2021 related to five IHOP franchisee-operated restaurants for which the carrying amount exceeded the future projected cash flows. The long-lived asset impairment of $22.3 million for the year ended December 31, 2020 related to 29 Applebee's company-operated restaurants and 29 IHOP franchisee-operated restaurants for which the carrying amount exceeded the undiscounted cash flows. Approximately $15.1 million of the total impairment related to operating lease right-of-use assets, while $7.2 million related to impairments of land, building, leasehold improvements and finance leases. The impairments by individual property varied in amount, ranging from the largest single-property impairment of $1.3 million to less than $5,000.

Stock-Based Incentive Plans

12 Months Ended

Dec. 31, 2022

Share-Based Payment Arrangement [Abstract]

Stock-Based Incentive Plans

General Description

Currently, the Company is authorized to grant stock options, stock appreciation rights, restricted stock, cash-settled and stock-settled restricted stock units and performance units to officers, other employees and non-employee directors under the Dine Brands Global, Inc. 2019 Stock Incentive Plan (the “2019 Plan”). The 2019 Plan was approved by stockholders on May 14, 2019 to permit the issuance of up to 2,050,000 shares (subject to adjustment as defined in the 2019 Plan for shares that may become available from prior plans) of the Company’s common stock for incentive stock awards. The 2019 Plan will expire in May 2029.

The Dine Brands Global, Inc. 2016 Stock Incentive Plan (the “2016 Plan”) was adopted in 2016 to permit the issuance of up to 3,750,000 shares of the Company’s common stock for incentive stock awards. The 2016 Plan was terminated upon adoption of the 2019 Plan, but there are stock options (vested and unvested) and unvested restricted stock and restricted stock units issued under the 2016 Plan that are outstanding as of December 31, 2022.

The DineEquity, Inc. 2011 Stock Incentive Plan (the “2011 Plan”) was adopted in 2011 to permit the issuance of up to 1,500,000 shares of the Company’s common stock for incentive stock awards. The 2011 Plan was terminated upon adoption of the 2016 Plan, but there are vested stock options issued under the 2011 Plan that are outstanding as of December 31, 2022.

The 2019 Plan, 2016 Plan and the 2011 Plan are collectively referred to as the “Plans.”

Stock-Based Compensation Expense

From time to time, the Company has granted non-qualified stock options, restricted stock, cash-settled and stock-settled restricted stock units and performance units to officers, other employees and non-employee directors of the Company under the Plans. The non-qualified stock options generally vest ratably over a three-year period in one-third increments and have a maturity of ten years from the grant date. Options vest immediately upon a change in control of the Company, as defined in the Plans. Option exercise prices equal the closing price of the Company's common stock on the New York Stock Exchange on the date of grant. Restricted stock and restricted stock units are issued at no cost to the holder and vest over terms determined by the Compensation Committee of the Company's Board of Directors, generally either three years from the date of grant or in one-third increments over three years, as well as immediately upon a change in control of the Company, as defined in the Plans. The Company either utilizes treasury stock or issues new shares from its authorized but unissued share pool when vested stock options are exercised, when restricted stock awards are granted and when restricted stock units settle in stock upon vesting. See Note 12, Stockholders' Deficit, of Notes to the Consolidated Financial Statements, for treasury shares utilized related to equity grants during the years ended December 31, 2022, 2021 and 2020.

The following table summarizes the Company's stock-based compensation expense included as a component of general and administrative expenses in the consolidated financial statements:


	Year Ended December 31,
	2022		2021		2020
	(In millions)
Stock-based compensation expense
Equity classified awards expense	$	16.2	$	11.6	$	12.6
Liability classified awards expense	1.4		2.3		1.0
Total pretax stock-based compensation expense	17.6		13.9		13.6
Book income tax benefit	(3.5)		(3.5)		(3.4)
Total stock-based compensation expense, net of tax	$	14.1	$	10.4	$	10.2

As of December 31, 2022, total unrecognized compensation cost related to restricted stock and restricted stock units of $17.5 million and $2.7 million related to stock options is expected to be recognized over a weighted average period of approximately 1.5 years for restricted stock and restricted stock units and 1.3 years for stock options.

Equity Classified Awards - Stock Options

The per share fair values of the stock options granted have been estimated as of the date of grant using the Black-Scholes option pricing model. The Black-Scholes model considers, among other factors, the expected life of the option and the historical volatility of the Company's stock price. The Black-Scholes model meets the requirements of U.S. GAAP, but the fair values generated by the model may not be indicative of the actual fair values of the Company's stock-based awards.

The following table summarizes the assumptions used in the Black-Scholes model for stock options granted in the years ended December 31, 2022, 2021 and 2020:


	2022			2021			2020
Risk free interest rate	1.7		%	0.5		%	1.2		%
Weighted average historical volatility	70.1		%	67.7		%	30.5		%
Dividend yield	2.6		%	—		%	3.5		%
Expected years until exercise	4.5			4.5			4.6

Weighted average fair value of options granted	$	33.23		$	40.25		$	17.53

Stock option activity for the years ended December 31, 2022, 2021 and 2020 is summarized as follows:


	Number of Shares Under Option	Weighted Average Exercise Price Per Share		Weighted Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value (in millions)
Outstanding at December 31, 2019	1,217,438	$	66.43
Granted	167,969	87.17
Exercised	(270,024)	76.01
Forfeited	(45,247)	86.39
Expired	(55,466)	107.78
Outstanding at December 31, 2020	1,014,670	64.16
Granted	95,891	75.28
Exercised	(524,536)	48.79
Forfeited	(59,468)	88.39
Expired	(50,653)	98.61
Outstanding at December 31, 2021	475,904	76.65
Granted	75,795	70.08
Exercised	(3,505)	68.80
Forfeited	(6,171)	81.13
Expired	(2,448)	94.43
Outstanding at December 31, 2022	539,575	$	75.65	6.8	$	3.5
Vested and Expected to Vest at December 31, 2022	528,037	$	75.72	5.9	$	1.5
Exercisable at December 31, 2022	378,811	$	75.95	4.9	$	1.3

The total intrinsic value of options exercised during the years ended December 31, 2022, 2021 and 2020 was $37 thousand, $17.9 million and $4.3 million, respectively.

Cash received from options exercised under all stock-based payment arrangements for the years ended December 31, 2022, 2021 and 2020 was $0.2 million, $25.3 million and $20.5 million, respectively. The actual tax benefit realized for the tax deduction from option exercises under the stock-based payment arrangements totaled $9 thousand, $4.5 million and $1.1 million, respectively, for the years ended December 31, 2022, 2021 and 2020.

Equity Classified Awards - Restricted Stock and Restricted Stock Units

Activity in equity classified awards of restricted stock and restricted stock units for the years ended December 31, 2022, 2021 and 2020 is as follows:


	Shares of Restricted Stock	Weighted Average Grant-Date Per Share Fair Value		Restricted Stock Units	Weighted Average Grant-Date Per Share Fair Value




Outstanding at December 31, 2019	224,515	$	70.52	357,807	$	30.35
Granted	163,522	73.68		30,997	77.33
Released	(95,211)	55.75		(33,234)	63.98
Forfeited	(38,495)	85.03		—	—
Outstanding at December 31, 2020	254,331	76.50		355,570	28.01
Granted	141,264	83.24		68,998	63.04
Released	(60,407)	66.90		(318,976)	23.19
Forfeited	(58,577)	82.09		—	—
Outstanding at December 31, 2021	276,611	80.85		105,592	71.00
Granted	201,789	70.12		60,914	49.36
Released	(98,864)	86.36		(42,611)	66.63
Forfeited	(23,636)	75.89		—	—
Outstanding at December 31, 2022	355,900	$	73.57	123,895	$	62.11

Liability Classified Awards - Cash-settled Restricted Stock Units

The Company has granted cash-settled restricted stock units to certain employees. These instruments are recorded as liabilities at fair value as of the respective period end.


						Cash-Settled Restricted Stock Units




Outstanding at December 31, 2019						63,852
Granted						2,658
Released						(1,426)
Forfeited						(12,128)
Outstanding at December 31, 2020						52,956
Granted						—
Released						(38,916)
Forfeited						(1,241)
Outstanding at December 31, 2021						12,799
Granted						67
Released						(12,866)
Forfeited						—
Outstanding at December 31, 2022						—

For the years ended December 31, 2022, 2021 and 2020, $0.2 million, $1.5 million and, $0.3 million respectively, was included as stock-based compensation expense related to cash-settled restricted stock units. At December 31, 2022 and 2021, liabilities of zero and $0.9 million, respectively, related to cash-settled restricted stock units were included as part of accrued employee compensation and benefits in the Consolidated Balance Sheets.

Liability Classified Awards - Long-Term Incentive Awards

The Company has granted cash long-term incentive awards to certain employees (“LTIP awards”). Annual LTIP awards vest over a three-year period and are determined using a multiplier from 0% to 200% of the target award based on the total stockholder return of the Company's common stock compared to the total stockholder returns of a peer group of companies. Though LTIP awards are only paid in cash, since the multiplier is primarily based on the price of the Company's common stock, the awards are considered stock-based compensation in accordance with U.S. GAAP and are classified as liabilities. For the years ended December 31, 2022, 2021 and 2020, expense of $1.2 million, $0.8 million and $0.7 million, respectively, was included in stock-based compensation expense related to the LTIP awards. At December 31, 2022 and 2021, liabilities of $2.1 million and $1.5 million, respectively, were included as accrued employee compensation and benefits in the Consolidated Balance Sheets.

Employee Benefit Plans	12 Months Ended
Employee Benefit Plans	Dec. 31, 2022
Retirement Benefits [Abstract]
Employee Benefit Plans	Employee Benefit Plans401(k) Savings and Investment PlanEffective January 1, 2013, the Company amended the Dine Brands Global, Inc. 401(k) Plan to (i) modify the Company matching formula and (ii) eliminate the one-year completed service requirement that previously had to be met to become eligible for Company matching contributions. As amended, the Company matches 100% of the first four percent of the employee's eligible compensation deferral and 50% of the next two percent of the employee's eligible compensation deferral. All contributions under this plan vest immediately. Company common stock is not an investment option for employees in the 401(k) Plan, other than shares transferred from a prior employee stock ownership plan. Substantially all of the administrative cost of the 401(k) plan is borne by the Company. The Company's matching contribution expense was $3.3 million, $2.9 million and $2.8 million for the years ended December 31, 2022, 2021 and 2020, respectively.

Income Taxes

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Income Taxes

The provision (benefit) for income taxes for the years ended December 31, 2022, 2021 and 2020 was as follows:


	Year Ended December 31,
	2022		2021		2020
Provision (benefit) for income taxes	(In millions)
Current
Federal	$	27.5	$	20.2	$	11.0
State	5.5		4.6		3.1
Foreign	1.8		1.4		1.3
	34.8		26.2		15.4
Deferred
Federal	(3.8)		(2.3)		(17.3)
State	2.7		0.2		(2.7)
	(1.1)		(2.1)		(20.0)
Provision (benefit) for income taxes	$	33.7	$	24.1	$	(4.6)

The provision (benefit) for income taxes differs from the expected federal income tax rates as follows:


	Year Ended December 31,
	2022		2021		2020
Statutory federal income tax rate	21.0	%	21.0	%	21.0	%
Non-deductibility of goodwill	0.8		—		(17.9)
Non-deductibility of officer's compensation	2.9		2.2		(0.9)
State and other taxes, net of federal tax benefit	3.1		3.1		1.2
Excess tax deficiencies or benefits	(0.5)		(7.1)		0.1
Change in unrecognized tax benefits	—		(0.1)		2.0
Change in valuation allowance	(0.3)		0.5		(1.5)
Changes in tax rates and state tax laws	3.4		0.2		(0.4)
General business credits	(1.4)		(0.9)		0.8
Other	0.3		0.8		(0.2)
Effective tax rate	29.3	%	19.7	%	4.2	%

The fiscal year 2022 effective tax rate of 29.3% applied to pretax book income was different than the statutory Federal income tax rate of 21% due to the state and local income taxes and the non-deductibility of executive compensation. The effective tax rate further increased due to the increase in the effective state tax rate applied to revaluing deferred tax balances. The increase in the effective state tax rate was due to the non-recurring refranchising of 69 Applebee’s company-operated restaurants in the fourth quarter of 2022 and various state legislative changes.

The fiscal year 2021 effective tax rate of 19.7% applied to pretax book income was different than the statutory Federal income tax rate of 21% primarily due to the one-time recognition of excess tax benefits on stock-based compensation, offset by non-deductibility of executive compensation and state and local income taxes.

The fiscal year 2020 effective tax rate of 4.2% applied to pretax book loss was significantly different than the statutory Federal income tax rate of 21% primarily because of the $92.2 million impairment of goodwill incurred, which was not deductible for income tax purposes and therefore had no associated tax benefit.

The Company files federal income tax returns and the Company or one of its subsidiaries file income tax returns in various state and international jurisdictions. With few exceptions, the Company is no longer subject to federal tax examinations by tax authorities for years before 2018 and state or non-United States tax examinations by tax authorities for years before 2011. The Company believes that adequate reserves have been recorded relating to all matters contained in the tax periods open to examination.

Net deferred tax assets (liabilities) at December 31, 2022 and 2021 consisted of the following components:


	2022		2021
	(In millions)
Lease liabilities	$	93.6	$	112.9
Employee compensation	9.7		12.1

Revenue recognition	37.1		35.4
Other	8.4		8.4
Deferred tax assets	148.8		168.8
Valuation allowance	(3.5)		(4.2)
Total deferred tax assets after valuation allowance	145.3		164.6
Recognition of franchise and equipment sales	(6.7)		(8.2)
Capitalization and depreciation(1)	(121.0)		(122.7)
Lease assets	(90.8)		(108.6)
Other	(1.5)		(1.3)
Deferred tax liabilities	(220.0)		(240.8)
Net deferred tax liabilities	$	(74.7)	$	(76.2)

_________________________________

(1) Primarily related to the 2007 Applebee's acquisition.

As of each reporting date, the Company considers new evidence, both positive and negative, that could impact management’s view with regards to future realization of deferred tax assets. During fiscal 2022, we released a valuation

allowance of $1.1 million related to state deferred tax assets based on positive evidence which suggests that deferred tax assets will be more likely than not to be realizable in the future. We also believe that the future realizability of benefits arising from foreign tax credit carryforwards and certain state net operating loss carryforwards does not meet the more-likely-than-not threshold. In recognition of this risk, there is a valuation allowance of $3.5 million as of December 31, 2022.

The Company had gross operating loss carryforwards for state tax purposes of $37.9 million and $23.6 million as of December 31, 2022 and 2021, respectively. Certain net operating loss carryforwards will expire in 2029 if not utilized.

The total gross unrecognized tax benefit as of December 31, 2022 and 2021 was $2.1 million and $1.9 million, respectively, excluding interest, penalties and related income tax benefits. If recognized, these amounts would affect the Company's effective income tax rates.

The Company estimates the unrecognized tax benefits may decrease over the upcoming 12 months by an amount up to less than $0.5 million related to settlements with taxing authorities and statute of limitations expirations. For the remaining liability, due to the uncertainties related to these tax matters, the Company is unable to make a reasonable estimate as to when cash settlement with a taxing authority will occur. A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:


	Year Ended December 31,
	2022		2021		2020
	(In millions)
Unrecognized tax benefit as of January 1	$	1.9	$	2.2	$	7.6
Changes for tax positions of prior years	0.1		0.5		—
Increases for tax positions related to the current year	0.4		0.3		0.2
Decreases relating to settlements and lapsing of statutes of limitations	(0.3)		(1.1)		(5.6)
Unrecognized tax benefit as of December 31	$	2.1	$	1.9	$	2.2

As of December 31, 2022, the accrued interest was $0.7 million and accrued penalties were less than $0.1 million, excluding any related income tax benefits. As of December 31, 2021, the accrued interest and penalties were $0.6 million and less than $0.1 million, respectively, excluding any related income tax benefits. The Company recognizes interest accrued related to unrecognized tax benefits and penalties as a component of the income tax provision recognized in the Consolidated Statements of Comprehensive Income (Loss).

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 21
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-URI https://asc.fasb.org/extlink&oid=122134291&loc=d3e330215-122817

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32809-109319

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
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-Name Accounting Standards Codification
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 30
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-Paragraph 2
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

Net (Loss) Income Per Share

12 Months Ended

Dec. 31, 2022

Earnings Per Share [Abstract]

Net (Loss) Income Per Share

Net Income (Loss) Per Share

The computation of the Company's basic and diluted net income (loss) per share is as follows:


	Year Ended December 31,
	2022		2021		2020
	(in thousands, except per share data)
Numerator for basic and diluted income (loss) per common share
Net income (loss)	$	81,111	$	97,864	$	(103,994)
Less: Net income allocated to unvested participating restricted stock	(2,174)		(2,295)		(420)
Net income (loss) available to common stockholders - basic	78,937		95,569		(104,414)
Effect of unvested participating restricted stock	1		13		—
Numerator - income (loss) available to common shareholders - diluted	$	78,938	$	95,582	$	(104,414)
Denominator
Weighted average outstanding shares of common stock - basic	15,873		16,799		16,230
Effect of dilutive securities:
Stock options	28		91		—
Weighted average outstanding shares of common stock - diluted	15,901		16,890		16,230
Net income (loss) per common share
Basic	$	4.97	$	5.69	$	(6.43)
Diluted	$	4.96	$	5.66	$	(6.43)

For the year ended December 31, 2020, diluted loss per common share was computed using the basic weighted average number of shares outstanding during the period as the 100,056 shares from common stock equivalents would have been antidilutive.

Segment Reporting

12 Months Ended

Dec. 31, 2022

Segment Reporting [Abstract]

Segment Reporting

Information on segments and a reconciliation of gross profit to income (loss) before income taxes is as follows:


	Year Ended December 31,
	2022		2021		2020
Revenues			(In millions)
Franchise operations	$	662.4	$	631.9	$	469.5
Rental operations	116.5		113.9		105.9
Company restaurants	126.9		146.0		108.1
Financing operations	3.6		4.3		5.8
Total	$	909.4	$	896.2	$	689.3

Gross profit (loss), by segment
Franchise operations	$	340.5	$	336.0	$	230.5
Rental operations	28.5		26.1		16.4
Company restaurants	5.1		9.3		(3.5)
Financing operations	3.2		3.8		5.3
Total gross profit	377.3		375.2		248.7
Corporate and unallocated expenses, net	(262.6)		(253.3)		(357.3)
Income (loss) before income taxes	$	114.8	$	121.9	$	(108.6)

Interest expense
Rental operations	$	4.3	$	4.9	$	6.3
Company restaurants	2.6		3.3		2.7
Corporate	60.7		63.3		66.9
Total	$	67.6	$	71.5	$	75.9

Depreciation and amortization
Franchise operations	$	10.0	$	10.1	$	10.1
Rental operations	10.7		11.1		12.3
Company restaurants	4.3		7.0		7.0
Corporate	13.0		11.7		13.4
Total	$	38.0	$	39.9	$	42.8

Goodwill and intangible assets, closure and other impairment charges
Franchise operations	$	3.1	$	1.7	$	122.1
Company restaurants	—		3.7		10.5

Total	$	3.1	$	5.4	$	132.6

Capital expenditures

Company restaurants	$	4.3	$	6.5	$	2.7
Corporate	31.0		10.3		8.2
Total	$	35.3	$	16.8	$	10.9

Goodwill
Franchise operations	$	254.0	$	247.0	$	247.0
Company restaurants	—		4.6		4.6
Total	$	254.0	$	251.6	$	251.6

Total assets
Franchise operations	$	1,123.0	$	991.0	$	997.7
Rental operations	390.6		426.6		451.5
Company restaurants	3.3		117.2		121.1
Financing operations	31.8		39.7		49.9
Corporate	332.8		424.9		454.7
Total	$	1,881.5	$	1,999.4	$	2,074.9

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8981-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
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-Paragraph 21
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
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-Paragraph 32
-Subparagraph (e)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 26
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8844-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Paragraph 41
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Paragraph 32
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Paragraph 15
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8657-108599

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI https://asc.fasb.org/topic&trid=2134510

+ Details

Business Acquisition

12 Months Ended

Dec. 31, 2022

Business Combinations [Abstract]

Business Acquisition

On December 13, 2022, the Company purchased all of the issued and outstanding membership interests of Fuzzy’s for approximately $80 million in cash, pursuant to the Membership Interest Purchase Agreement, dated as of December 2, 2022, with Fuzzy’s becoming a wholly-owned subsidiary of the Company. Fuzzy’s is a dining company that develops, franchises and operates casual dining restaurants that offer a specialized menu of Baja-style Mexican food under the Fuzzy’s Taco Shop brand. The Company acquired Fuzzy’s as part of the Company’s goal to investing in a high growth concept to accelerate growth.

The Company reviewed the SEC guidance in Regulation S-X on the significance of an acquired business that determines if an acquired business is required to provide financial statements and pro forma statements if the business exceeds 20% significance to the Company. Based on the three required tests (asset, investment and income) that were performed by the Company, the acquisition was not deemed to be a significant acquisition, and therefore the required disclosures are limited in these Consolidated Financial Statements. The results of operations related to Fuzzy's have been included in the consolidated results of the Company subsequent to the acquisition date.

The acquisition of Fuzzy’s has been accounted for using the acquisition method of accounting in accordance with ASC 805, Business Combinations, with the Company treated as the accounting acquirer, which requires that the assets acquired, and liabilities assumed be recognized at their acquisition date fair value. The Company received a third-party actuarial valuation report to determine the fair value assigned to the assets acquired and liabilities assumed.

The intangible assets acquired include franchising rights with an estimated useful life of 20 years and a tradename with an indefinite useful life (see Note 7). The fair value of franchising rights was estimated based on the estimated future cash flows to be generated from these franchise agreements. The earnings expected to be generated by the franchising rights were forecasted over the estimated duration of the intangible asset. The earnings were then discounted to present value at a rate commensurate with the risk of the asset. The fair value of the tradename was estimated based on the multi-period excess earnings method, a variation of the income approach, using cash flows (“excess earnings”) attributable only to the tradename intangible asset. These excess earnings were discounted to present value at a rate commensurate with the risk of the asset.

The fair value of the tangible personal property and other working capital assets and liabilities was assumed to approximate book value.

Operating lease liabilities were calculated using the present value of lease payments not yet paid and operating lease assets were calculated based upon the operating lease liabilities adjusted for prepayments or accrued lease payments. The contractual rent payments were determined to approximate market rates.

The following table summarizes the estimated fair value of net assets acquired at December 13, 2022:


	(In millions)
Receivables and other current assets	$	1.1
Property and equipment and other non-current assets	2.1
Tradename	57.2
Franchise agreements	14.8
Other intangible assets	0.5
Goodwill	7.0
Accounts payable and other liabilities	(4.4)
Net cash paid for acquisition	$	78.3

The excess of the purchase price over the fair value of identifiable net assets acquired amounted to approximately $7.0 million. The acquisition goodwill arises from the expected synergies from combining the operations of the Company and Fuzzy’s. The allocation of the purchase price is subject to potential changes due to working capital adjustments expected to be completed within approximately 90 days of the acquisition date. The Company’s goodwill balance also may change during the allowable allocation period, which is up to one year from the acquisition date if additional information becomes available.

Subsequent Events	12 Months Ended
Subsequent Events	Dec. 31, 2022
Subsequent Events [Abstract]
Subsequent Events	Subsequent EventsOn February 16, 2023, the Company's Board of Directors authorized a debt repurchase program of up to $100 million.

Basis of Presentation and Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2022

Accounting Policies [Abstract]

Principles of Consolidation

Fiscal Periods

Fiscal PeriodsThe Company has a 52/53 week fiscal year that ends on the Sunday nearest to December 31 of each year. In a 52-week fiscal year, each fiscal quarter contains 13 weeks, comprised of two, four-week fiscal months followed by a five-week fiscal month. In a 53-week fiscal year, the last month of the fourth fiscal quarter contains six weeks. For convenience, the Company refers to its fiscal years as ending on December 31 and its fiscal quarters as ending on March 31, June 30 and September 30.

Use of Estimates

Risks and Uncertainties

Concentration of Credit Risk

Cash and Cash Equivalents

Cash and Cash EquivalentsThe Company considers all highly liquid investment securities with remaining maturities at the date of purchase of three months or less to be cash equivalents. These cash equivalents are stated at cost which approximates market value. Cash held related to IHOP advertising funds and the Company's gift card programs is not considered to be restricted cash as there are no restrictions on the use of these funds.

Restricted Cash

Current


	December 31,
	2022		2021
	(In millions)
Securitized debt reserves	$	32.4	$	29.9
Applebee's advertising funds	5.4		17.5
Other	1.1		0.1
Total current restricted cash	$	38.9	$	47.5

Non-current

Property and Equipment


Category						Depreciable Life
Buildings and improvements						25 to 40 years
Leaseholds and improvements						Shorter of primary lease term or between three to 40 years
Equipment and fixtures						Three to five years
Internal-use software						Three to 10 years
Properties under finance leases						Primary lease term or remaining primary lease term

Long-Lived Assets

Goodwill and Intangible Assets

Business Combinations

Revenue Recognition

Franchise Revenues

The Company recognizes the primary components of the transaction price as follows:

Company Restaurant Revenues

Rental Revenues

Rental operations revenues include revenues from operating leases and interest income from real estate leases. See Basis of Presentation and Summary of Significant Accounting Policies - Leases.

Financing Revenues

Gift Card

Allowance for Credit Losses

Leases

base rent plus an additional percentage of the restaurant’s sales. Subsequent escalations subject to such an index and contingent rental payments are recognized as variable lease expense.

Pre-opening Expenses

Expenditures related to the opening of new or relocated restaurants are charged to expense when incurred.

Advertising

AdvertisingAdvertising expense reflected in the Consolidated Statements of Comprehensive Income (Loss) includes contributions to the national advertising funds made by Applebee's and IHOP, local marketing advertising costs incurred by company-operated restaurants, and certain advertising costs incurred by the Company to benefit future franchise operations. Costs of advertising typically are expensed either as incurred or the first time the advertising takes place.

Fair Value Measurements

•Level 1 inputs are quoted prices in active markets for identical assets or liabilities.

•Level 2 inputs are observable for the asset or liability, either directly or indirectly, including quoted prices in active markets for similar assets or liabilities.

•Level 3 inputs are unobservable and reflect the Company's own assumptions.

The Company believes the fair values of cash and cash equivalents, restricted cash, accounts receivable and accounts payable approximate their carrying amounts due to their short duration.

Income Taxes

Stock-Based Compensation

Net Income (Loss) Per Share

Treasury Stock

Dividends

DividendsDividends declared on common stock are recorded as a reduction of retained earnings to the extent retained earnings are available at the close of the period prior to the date of the dividend declaration. Dividends declared in excess of retained earnings are recorded as a reduction of additional paid-in capital.

Reporting Segments

Franchise Segment

Franchise operations expenses include advertising expense, the cost of proprietary products, pre-opening training expenses and other franchise-related costs.

Rental Segment

Financing Segment

Company Segment

Accounting Standards Adopted in the Current Fiscal Year and Newly Issued Accounting Standards Not Yet Adopted

Accounting Standards Adopted in the Current Fiscal Year

Newly Issued Accounting Standards Not Yet Adopted

Basis of Presentation and Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2022

Accounting Policies [Abstract]

Schedule of Cash and Cash Equivalents

The components of cash and cash equivalents were as follows:


	December 31,
	2022		2021
	(In millions)
Money market funds	$	75.0	$	30.0
IHOP advertising funds and gift card programs	96.7		101.5
Other depository accounts	98.0		229.9
Total cash and cash equivalents	$	269.7	$	361.4

Restrictions on Cash and Cash Equivalents

The components of current restricted cash were as follows:


	December 31,
	2022		2021
	(In millions)
Securitized debt reserves	$	32.4	$	29.9
Applebee's advertising funds	5.4		17.5
Other	1.1		0.1
Total current restricted cash	$	38.9	$	47.5

Property and Equipment Depreciable Lives

The general ranges of depreciable and amortizable lives are as follows:


Category						Depreciable Life
Buildings and improvements						25 to 40 years
Leaseholds and improvements						Shorter of primary lease term or between three to 40 years
Equipment and fixtures						Three to five years
Internal-use software						Three to 10 years
Properties under finance leases						Primary lease term or remaining primary lease term

Fair Value of Financial Instruments

The fair values of non-current financial instruments, determined based on Level 2 inputs, are shown in the following table:


	December 31,
	2022		2021
	(In millions)
Face value of Series 2019-1 Fixed Rate Senior Secured Notes	$	1,247.0	$	1,287.0
Fair value of Series 2019-1 Fixed Rate Senior Secured Notes	$	1,167.0	$	1,312.9

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

+ References + Details

Revenue (Tables)

12 Months Ended

Dec. 31, 2022

Revenue from Contract with Customer [Abstract]

Schedule of Disaggregation of Revenue

The following table disaggregates our franchise revenues by major type for the years ended December 31, 2022, 2021 and 2020:


	Year ended December 31,
	2022		2021		2020
Franchise Revenues	(In thousands)
Royalties	$	303,724	$	292,372	$	215,214
Advertising fees	289,328		274,790		201,494
Pancake and waffle dry mix sales and other	60,749		51,250		38,936
Franchise and development fees	8,637		13,524		13,809
Total franchise revenues	$	662,438	$	631,936	$	469,453

Schedule of Changes in Deferred Revenue

Changes in the Company's deferred franchise revenue during the year ended December 31, 2022 were as follows:


	Deferred Franchise Revenue (short- and long-term)
	(In thousands)
Balance at December 31, 2021	$	53,346
Recognized as revenue during the year ended December 31, 2022	(8,518)
Fees deferred during the year ended December 31, 2022	4,044
Acquisition addition	621
Balance at December 31, 2022	$	49,493

Schedule of Remaining Performance Obligations

The balance of deferred franchise revenue as of December 31, 2022 is expected to be recognized as follows:


	(In thousands)
2023	$	7,150
2024	6,478
2025	5,699
2026	4,850
2027	3,954
Thereafter	21,362
Total	$	49,493

Current Expected Credit Losses ("CECL") (Tables)

12 Months Ended

Dec. 31, 2022

Credit Loss [Abstract]

Schedule of Receivables and Allowance for Doubtful Accounts

Total receivables balances at December 31, 2022 and 2021 were as follows:


Receivables	2022		2021
	(In millions)
Accounts receivable	$	67.5	$	63.6
Gift card receivables	34.6		33.4

Notes receivable	17.2		19.7
Financing receivables:
Equipment leases receivable	26.6		33.4
Real estate leases receivable	18.5		16.7

Other receivables	5.6		7.6
	170.0		174.4
Less: allowance for doubtful accounts and notes receivable	(10.3)		(11.9)
	159.7		162.5
Less: current portion	(120.0)		(120.0)
Long-term receivables	$	39.7	$	42.5

Financing Receivable, Allowance for Credit Loss

Changes in the allowance for credit losses during the years ended December 31, 2022 and 2021 were as follows:



	Accounts Receivable		Notes receivable, short-term		Notes receivable, long-term		Lease Receivables		Equipment Receivables		Other (1)		Total
	(In millions)






Balance, December 31, 2020	$	11.2	$	3.6	$	5.3	$	0.4	$	2.3	$	0.3	$	23.1

Bad debt (credit) expense	(8.2)		1.4		1.1		0.1		0.8		(0.1)		(4.9)
Advertising provision adjustment	(1.8)		(0.3)		0.2		—		—		—		(1.9)
Write-offs	(0.2)		(0.9)		—		(0.5)		(3.0)		—		(4.6)
Recoveries	0.0		—		—		0.2		—		—		0.2
Balance, December 31, 2021	$	1.0	$	3.8	$	6.6	$	0.2	$	0.1	$	0.2	$	11.9
Bad debt (credit) expense	(0.1)		1.4		(1.1)		0.0		(0.0)		0.0		0.3
Advertising provision adjustment	0.5		(0.8)		(0.2)		—		—		—		(0.5)
Write-offs	(0.3)		(0.9)		—		(0.0)		(0.0)		(0.3)		(1.5)
Recoveries	0.1		—		—		0.0		0.0		0.0		0.1
Balance, December 31, 2022	$	1.2	$	3.5	$	5.3	$	0.2	$	0.1	$	(0.1)	$	10.3

_________________________________

(1) Primarily consists of distributor receivables, gift card receivables, and credit card receivables.

Financing Receivable, Past Due



	Notes receivable, short-term		Notes receivable, long-term		Lease Receivables		Equipment Receivables		Other (1)		Total
	(In millions)
Current	$	4.9	$	10.7	$	18.5	$	26.6	$	0.0	$	60.7
30-59 days	—		—		—		—		—		—
60-89 days	—		—		—		—		—		—
90-119 days	—		—		—		—		—		—
120+ days	1.6		—		—		—		—		1.6
Total	$	6.5	$	10.7	$	18.5	$	26.6	0.0		$	62.3

_________________________________

(1) Primarily consists of credit card receivables.

Financing Receivable Credit Quality Indicators

The year of origination of the Company's financing receivables at December 31, 2022 as follows:



	Notes receivable, short and long-term		Lease Receivables		Equipment Receivables		Total
	(In millions)
2022	$	1.6	$	8.5	$	—	$	10.1
2021	10.1		2.5		—		12.6
2020	0.4		1.3		—		1.7
2019	—		0.7		—		0.7
2018	—		—		—		0.0
Prior	5.1		5.5		26.6		37.2
Total	$	17.2	$	18.5	$	26.6	$	62.3

Property and Equipment (Tables)

12 Months Ended

Dec. 31, 2022

Property, Plant and Equipment [Abstract]

Schedule of Property and Equipment

Property and equipment by category at December 31, 2022 and 2021 were as follows:


	2022		2021
	(In millions)
Leaseholds and improvements	$	211.5	$	221.1
Properties under finance leases	56.7		94.6
Equipment and fixtures	41.5		52.5
Buildings and improvements	51.3		54.2
Land	47.8		51.3
Internal-use software	52.6		55.7
Construction in progress	17.6		5.5
Property and equipment, gross	479.0		534.9
Less: accumulated depreciation and amortization	(333.7)		(355.5)
Property and equipment, net	$	145.3	$	179.4

Goodwill - (Tables)

12 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

Changes in the carrying amount of goodwill for the years ended December 31, 2022, 2021 and 2020 are as follows:


	Applebee's Franchise Unit		Applebee's Company Unit		IHOP Franchise Unit		Fuzzy's Franchise Unit		Total
	(In millions)
Balance at December 31, 2019	$	328.4	$	4.6	$	10.8	$	—	$	343.8
Impairment loss	(92.2)		—		—		—		(92.2)
Balance at December 31, 2020	$	236.2	$	4.6	$	10.8	$	—	$	251.6
Balance at December 31, 2021	$	236.2	$	4.6	$	10.8	$	—	$	251.6
Disposition of assets	—		(4.6)		—		—		(4.6)
Business acquisition	—		—		—		7.0		7.0
Balance at December 31, 2022	$	236.2	$	—	$	10.8	$	7.0	$	254.0

Gross and net carrying amounts of goodwill at December 31, 2022 and 2021 are as follows:


	December 31, 2022						December 31, 2021
	Gross		Accumulated Impairment Loss		Net		Gross		Accumulated Impairment Loss		Net
	(In millions)
Applebee's Franchise Unit	$	686.7	$	(450.5)	$	236.2	$	686.7	$	(450.5)	$	236.2
Applebee's Company Unit	4.6		(4.6)		—		4.6		—		4.6
IHOP Franchise Unit	10.8		—		10.8		10.8		—		10.8
Fuzzy's Franchise Unit	7.0		—		7.0		—		—		—
Total	$	709.1	$	(455.1)	$	254.0	$	702.1	$	(450.5)	$	251.6

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (h)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (g)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (e)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1A
-URI https://asc.fasb.org/extlink&oid=121556970&loc=SL108378252-109267

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13854-109267

Reference 11: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 55
-Paragraph 24
-URI https://asc.fasb.org/extlink&oid=122137925&loc=d3e14258-109268

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

+ Details

Other Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2022

Intangible Assets, Net (Excluding Goodwill) [Abstract]

Other Intangible Assets Roll Forward

Changes in the carrying amounts for the years ended December 31, 2022, 2021 and 2020 are as follows:


	Not Subject to Amortization		Subject to Amortization
	Tradenames		Other		Franchising Rights		Reacquired Franchise Rights		Favorable Leaseholds		Total
	(In millions)




Balance at December 31, 2019	$	479.0	$	3.2	$	79.0	$	9.8	$	4.1	$	575.1
Impairment	(11.0)		—		—		(3.3)		(0.8)		(15.1)
Amortization expense	—		—		(10.0)		(0.8)		(0.1)		(10.9)
Additions	—		0.6		—		—		—		0.5
Balance at December 31, 2020	468.0		3.8		69.0		5.7		3.2		549.7

Amortization expense	—		—		(10.0)		(0.6)		(0.1)		(10.7)
Additions	—		0.4		—		—		—		0.4
Balance at December 31, 2021	468.0		4.2		59.0		5.1		3.1		539.4
Amortization expense	—		—		(10.0)		(0.4)		(0.1)		(10.6)
Additions	57.2		0.8		14.8		—		—		72.8
Disposition	—		—		—		(4.7)		—		(4.7)
Balance at December 31, 2022	$	525.2	$	5.0	$	63.8	$	—	$	3.0	$	597.0

Schedule of Finite-Lived Intangible Assets by Major Class

Gross and net carrying amounts of intangible assets subject to amortization at December 31, 2022 and 2021 are as follows:


	December 31, 2022						December 31, 2021
	Gross		Accumulated Amortization		Net		Gross		Accumulated Amortization		Net
	(In millions)
Franchising rights	$	214.8	$	(151.0)	$	63.8	$	200.0	$	(141.0)	$	59.0
Reacquired franchise rights	—		—		—		8.3		(3.2)		5.1
Favorable leaseholds	3.4		(0.4)		3.0		$	3.4	$	(0.3)	3.1
Total	$	218.2	$	(151.4)	$	66.8	$	211.7	$	(144.5)	$	67.2

Long-Term Debt (Tables)

12 Months Ended

Dec. 31, 2022

Debt Disclosure [Abstract]

Schedule of Long-Term Debt Components

Long-term debt at December 31, 2022 and 2021 consists of the following components:


	2022		2021
	(In millions)
Series 2019-1 4.194% Fixed Rate Senior Secured Notes, Class A-2-I	$	653.0	$	693.0
Series 2019-1 4.723% Fixed Rate Senior Secured Notes, Class A-2-II	594.0		594.0
Series 2022-1 Variable Funding Class A-1, Variable Rate of 5.50% at December 31, 2022	100.0		—
Debt issuance costs	(5.1)		(7.4)
Long-term debt, net of debt issuance costs	1,341.9		1,279.6
Current portion of long-term debt	(100.0)		—
Long-term debt	$	1,241.9	$	1,279.6

Financing Obligations (Tables)

12 Months Ended

Dec. 31, 2022

Leases [Abstract]

Schedule of Finance Lease Liability Future Maturity

As of December 31, 2022, future minimum lease payments under financing obligations during the initial terms of the leases related to the sale-leaseback transactions are as follows:


Fiscal Years	(In millions)
2023	$	4.0
2024	4.6
2025	4.6
2026	4.9
2027	4.6
Thereafter	22.5
Total minimum lease payments	45.2
Less: interest	(15.8)
Total financing obligations	29.4
Less: current portion(1)	(1.0)
Long-term financing obligations	$	28.4

_________________________________

(1)Included in current maturities of finance lease and financing obligations on the consolidated balance sheets.

Future minimum lease payments under noncancellable leases as lessee as of December 31, 2022 were as follows:


	Finance Leases		Operating Leases
	(In millions)
2023	$	8.8	$	63.7
2024	7.3		74.3
2025	5.9		63.9
2026	5.3		55.3
2027	4.3		37.1
Thereafter	16.3		110.0
Total minimum lease payments	47.9		404.3
Less: interest/imputed interest	(10.9)		(70.1)
Total obligations	37.0		334.2
Less: current portion	(6.6)		(59.1)
Long-term lease obligations	$	30.4	$	275.1

Leases (Tables)

12 Months Ended

Dec. 31, 2022

Leases [Abstract]

Schedule of Lease Cost

The Company's lease cost for the years ended December 31, 2022, 2021, and 2020 was as follows:


	Year Ended December 31,
	2022		2021		2020
Finance lease cost:	(In millions)
Amortization of right-of-use assets	$	3.6	$	4.6	$	5.0
Interest on lease liabilities	4.5		5.4		6.6
Operating lease cost(1)	83.5		84.4		90.6
Variable lease cost	7.6		7.0		0.8
Short-term lease cost	0.0		0.1		0.0
Sublease income	(106.8)		(104.6)		(96.8)
Lease cost	$	(7.6)	$	(3.1)	$	6.2

_________________________________

Schedule of Operating Lease Liability Future Maturity

Future minimum lease payments under noncancellable leases as lessee as of December 31, 2022 were as follows:


	Finance Leases		Operating Leases
	(In millions)
2023	$	8.8	$	63.7
2024	7.3		74.3
2025	5.9		63.9
2026	5.3		55.3
2027	4.3		37.1
Thereafter	16.3		110.0
Total minimum lease payments	47.9		404.3
Less: interest/imputed interest	(10.9)		(70.1)
Total obligations	37.0		334.2
Less: current portion	(6.6)		(59.1)
Long-term lease obligations	$	30.4	$	275.1

Schedule of Finance Lease Liability Future Maturity

As of December 31, 2022, future minimum lease payments under financing obligations during the initial terms of the leases related to the sale-leaseback transactions are as follows:


Fiscal Years	(In millions)
2023	$	4.0
2024	4.6
2025	4.6
2026	4.9
2027	4.6
Thereafter	22.5
Total minimum lease payments	45.2
Less: interest	(15.8)
Total financing obligations	29.4
Less: current portion(1)	(1.0)
Long-term financing obligations	$	28.4

_________________________________

(1)Included in current maturities of finance lease and financing obligations on the consolidated balance sheets.

Future minimum lease payments under noncancellable leases as lessee as of December 31, 2022 were as follows:


	Finance Leases		Operating Leases
	(In millions)
2023	$	8.8	$	63.7
2024	7.3		74.3
2025	5.9		63.9
2026	5.3		55.3
2027	4.3		37.1
Thereafter	16.3		110.0
Total minimum lease payments	47.9		404.3
Less: interest/imputed interest	(10.9)		(70.1)
Total obligations	37.0		334.2
Less: current portion	(6.6)		(59.1)
Long-term lease obligations	$	30.4	$	275.1

Schedule of Lease Payments

During the years ended December 31, 2022, 2021 and 2020, the Company made the following cash payments for leases:


	Year Ended December 31,
	2022		2021		2020
	(In millions)
Principal payments on finance lease obligations	$	8.9	$	10.2	$	12.5
Interest payments on finance lease obligations	$	4.5	$	5.4	$	6.6
Payments on operating leases	$	83.5	$	91.7	$	101.1
Variable lease payments	$	7.6	$	6.2	$	0.7

Schedule of Operating Lease Income

The Company's income from operating leases for the years ended December 31, 2022, 2021 and 2020 was as follows:


	Year Ended December 31,
	2022		2021		2020
	(In millions)
Minimum lease payments	$	96.4	$	96.0	$	97.2
Variable lease income	16.9		15.3		5.2
Total operating lease income	$	113.3	$	111.3	$	102.4

Schedule of Future Minimum Payments as a Lessor Under Operating Leases

Future minimum payments to be received as lessor under noncancellable operating leases as of December 31, 2022 were as follows:



	(In millions)
2023	$	103.6
2024	94.8
2025	82.1
2026	67.6
2027	49.5
Thereafter	122.0
Total minimum rents receivable	$	519.6

Schedule of Direct Finance Lease Income

The Company's income from real estate leases receivable at December 31, 2022, 2021 and 2020 was as follows:


	Year Ended December 31,
	2022		2021		2020
	(In millions)
Selling profit	$	0.9	$	—	$	—
Interest income	1.5		2.1		3.4
Variable lease income	0.7		0.5		0.3
Total financing lease income	$	3.1	$	2.6	$	3.7

Schedule of Future Minimum Payments as a Lessor Under Direct Financing Leases

Future minimum payments to be received as lessor under noncancellable real estate leases as of December 31, 2022 were as follows:



	(In millions)
2023	$	4.7
2024	2.6
2025	1.8
2026	1.8
2027	1.8
Thereafter	12.4
Total minimum rents receivable	25.1
Less: unearned income	(6.6)
Total real estate leases receivable	18.5
Less: current portion	(3.6)
Long-term real estate leases receivable	$	14.9

Stockholders' Deficit (Tables)

12 Months Ended

Dec. 31, 2022

Equity [Abstract]

Schedule of Repurchase Agreements


	Shares	Cost of shares
		(In millions)
2022 Repurchase Program
Repurchased during the year ended December 31, 2022	1,149,589	$	78.7
Cumulative (life-of-program) repurchases	1,149,589	$	78.7
Remaining dollar value of shares that may be repurchased	n/a	$	171.3

2019 Repurchase Program

Repurchased during the year ended December 31, 2022	588,108	$	41.4
Repurchased during the year ended December 31, 2021	59,099	$	4.5
Repurchased during the year ended December 31, 2020	459,899	$	26.5

Cumulative (life-of-program) repurchases	2,344,804	$	175.8
Remaining dollar value of shares that may be repurchased	n/a	$	24.2

Dividends Declared

During the fiscal years ended December 31, 2022, 2021 and 2020, the Company declared and paid dividends on common stock as follows:


Year ended December 31, 2022	Declaration Date	Payment Date	Dividends declared per share		Dividends paid per share		Total dividends paid(1)
							(In millions)
Payment of prior year declaration	(3)	January 7, 2022	$	—	$	0.40	$	6.9
First quarter	February 17, 2022	April 1, 2022	0.46		0.46		7.8
Second quarter	May 12, 2022	July 8, 2022	0.51		0.51		8.2
Third quarter	September 9, 2022	September 30, 2022	0.51		0.51		8.1
Fourth quarter	December 2, 2022	(2)	0.51		—		—
Total			$	1.99	$	1.88	$	31.0


Year ended December 31, 2021	Declaration Date	Payment Date	Dividends declared per share		Dividends paid per share		Total dividends paid(1)




Fourth quarter	December 20, 2021	(3)	$	0.40	$	—	$	—
Total			$	0.40	$	—	$	—


Year ended December 31, 2020	Declaration Date	Payment Date	Dividends declared per share		Dividends paid per share		Total dividends paid(1)
Payment of prior year declaration	(4)	January 10, 2020	$	—	$	0.69	$	11.7
First quarter	February 20, 2020	April 3, 2020	0.76		0.76		12.7



Total			$	0.76	$	1.45	$	24.4

(1) Includes dividend equivalents paid on restricted stock units.

(2) The fourth quarter 2022 dividend of $8.0 million was paid on January 6, 2023.

(3) The fourth quarter 2021 dividend of $6.9 million was paid on January 7, 2022.

(4) The fourth quarter 2019 dividend of $11.7 million was paid on January 10, 2020.

Closure and Long-lived Tangible Asset Impairment Charges (Tables)

12 Months Ended

Dec. 31, 2022

Restructuring Charges [Abstract]

Schedule of Impairment and Closure Charges

Closure and long-lived tangible asset impairment charges for the years ended December 31, 2022, 2021 and 2020 were as follows:


	Year Ended December 31,
	2022		2021		2020
	(In millions)
Closure charges	$	1.7	$	3.7	$	3.0
Long-lived tangible asset impairment	1.4		1.7		22.3
Total closure and long-lived tangible asset impairment charges	$	3.1	$	5.4	$	25.3

Stock-Based Incentive Plans (Tables)

12 Months Ended

Dec. 31, 2022

Share-Based Payment Arrangement [Abstract]

Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs

The following table summarizes the Company's stock-based compensation expense included as a component of general and administrative expenses in the consolidated financial statements:


	Year Ended December 31,
	2022		2021		2020
	(In millions)
Stock-based compensation expense
Equity classified awards expense	$	16.2	$	11.6	$	12.6
Liability classified awards expense	1.4		2.3		1.0
Total pretax stock-based compensation expense	17.6		13.9		13.6
Book income tax benefit	(3.5)		(3.5)		(3.4)
Total stock-based compensation expense, net of tax	$	14.1	$	10.4	$	10.2

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

The following table summarizes the assumptions used in the Black-Scholes model for stock options granted in the years ended December 31, 2022, 2021 and 2020:


	2022			2021			2020
Risk free interest rate	1.7		%	0.5		%	1.2		%
Weighted average historical volatility	70.1		%	67.7		%	30.5		%
Dividend yield	2.6		%	—		%	3.5		%
Expected years until exercise	4.5			4.5			4.6

Weighted average fair value of options granted	$	33.23		$	40.25		$	17.53

Schedule of Share-based Compensation, Stock Options, Activity

Stock option activity for the years ended December 31, 2022, 2021 and 2020 is summarized as follows:


	Number of Shares Under Option	Weighted Average Exercise Price Per Share		Weighted Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value (in millions)
Outstanding at December 31, 2019	1,217,438	$	66.43
Granted	167,969	87.17
Exercised	(270,024)	76.01
Forfeited	(45,247)	86.39
Expired	(55,466)	107.78
Outstanding at December 31, 2020	1,014,670	64.16
Granted	95,891	75.28
Exercised	(524,536)	48.79
Forfeited	(59,468)	88.39
Expired	(50,653)	98.61
Outstanding at December 31, 2021	475,904	76.65
Granted	75,795	70.08
Exercised	(3,505)	68.80
Forfeited	(6,171)	81.13
Expired	(2,448)	94.43
Outstanding at December 31, 2022	539,575	$	75.65	6.8	$	3.5
Vested and Expected to Vest at December 31, 2022	528,037	$	75.72	5.9	$	1.5
Exercisable at December 31, 2022	378,811	$	75.95	4.9	$	1.3

Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity

Activity in equity classified awards of restricted stock and restricted stock units for the years ended December 31, 2022, 2021 and 2020 is as follows:


	Shares of Restricted Stock	Weighted Average Grant-Date Per Share Fair Value		Restricted Stock Units	Weighted Average Grant-Date Per Share Fair Value




Outstanding at December 31, 2019	224,515	$	70.52	357,807	$	30.35
Granted	163,522	73.68		30,997	77.33
Released	(95,211)	55.75		(33,234)	63.98
Forfeited	(38,495)	85.03		—	—
Outstanding at December 31, 2020	254,331	76.50		355,570	28.01
Granted	141,264	83.24		68,998	63.04
Released	(60,407)	66.90		(318,976)	23.19
Forfeited	(58,577)	82.09		—	—
Outstanding at December 31, 2021	276,611	80.85		105,592	71.00
Granted	201,789	70.12		60,914	49.36
Released	(98,864)	86.36		(42,611)	66.63
Forfeited	(23,636)	75.89		—	—
Outstanding at December 31, 2022	355,900	$	73.57	123,895	$	62.11

Disclosure of Share-based Compensation Arrangements by Share-based Payment Award

The Company has granted cash-settled restricted stock units to certain employees. These instruments are recorded as liabilities at fair value as of the respective period end.


						Cash-Settled Restricted Stock Units




Outstanding at December 31, 2019						63,852
Granted						2,658
Released						(1,426)
Forfeited						(12,128)
Outstanding at December 31, 2020						52,956
Granted						—
Released						(38,916)
Forfeited						(1,241)
Outstanding at December 31, 2021						12,799
Granted						67
Released						(12,866)
Forfeited						—
Outstanding at December 31, 2022						—

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

The provision (benefit) for income taxes for the years ended December 31, 2022, 2021 and 2020 was as follows:


	Year Ended December 31,
	2022		2021		2020
Provision (benefit) for income taxes	(In millions)
Current
Federal	$	27.5	$	20.2	$	11.0
State	5.5		4.6		3.1
Foreign	1.8		1.4		1.3
	34.8		26.2		15.4
Deferred
Federal	(3.8)		(2.3)		(17.3)
State	2.7		0.2		(2.7)
	(1.1)		(2.1)		(20.0)
Provision (benefit) for income taxes	$	33.7	$	24.1	$	(4.6)

Schedule of Effective Income Tax Rate Reconciliation

The provision (benefit) for income taxes differs from the expected federal income tax rates as follows:


	Year Ended December 31,
	2022		2021		2020
Statutory federal income tax rate	21.0	%	21.0	%	21.0	%
Non-deductibility of goodwill	0.8		—		(17.9)
Non-deductibility of officer's compensation	2.9		2.2		(0.9)
State and other taxes, net of federal tax benefit	3.1		3.1		1.2
Excess tax deficiencies or benefits	(0.5)		(7.1)		0.1
Change in unrecognized tax benefits	—		(0.1)		2.0
Change in valuation allowance	(0.3)		0.5		(1.5)
Changes in tax rates and state tax laws	3.4		0.2		(0.4)
General business credits	(1.4)		(0.9)		0.8
Other	0.3		0.8		(0.2)
Effective tax rate	29.3	%	19.7	%	4.2	%

Schedule of Deferred Tax Assets and Liabilities

Net deferred tax assets (liabilities) at December 31, 2022 and 2021 consisted of the following components:


	2022		2021
	(In millions)
Lease liabilities	$	93.6	$	112.9
Employee compensation	9.7		12.1

Revenue recognition	37.1		35.4
Other	8.4		8.4
Deferred tax assets	148.8		168.8
Valuation allowance	(3.5)		(4.2)
Total deferred tax assets after valuation allowance	145.3		164.6
Recognition of franchise and equipment sales	(6.7)		(8.2)
Capitalization and depreciation(1)	(121.0)		(122.7)
Lease assets	(90.8)		(108.6)
Other	(1.5)		(1.3)
Deferred tax liabilities	(220.0)		(240.8)
Net deferred tax liabilities	$	(74.7)	$	(76.2)

_________________________________

(1) Primarily related to the 2007 Applebee's acquisition.

Summary of Income Tax Contingencies


	Year Ended December 31,
	2022		2021		2020
	(In millions)
Unrecognized tax benefit as of January 1	$	1.9	$	2.2	$	7.6
Changes for tax positions of prior years	0.1		0.5		—
Increases for tax positions related to the current year	0.4		0.3		0.2
Decreases relating to settlements and lapsing of statutes of limitations	(0.3)		(1.1)		(5.6)
Unrecognized tax benefit as of December 31	$	2.1	$	1.9	$	2.2

Net (Loss) Income Per Share (Tables)

12 Months Ended

Dec. 31, 2022

Earnings Per Share [Abstract]

Schedule of Basic and Diluted Net (Loss) Income Per Share

The computation of the Company's basic and diluted net income (loss) per share is as follows:


	Year Ended December 31,
	2022		2021		2020
	(in thousands, except per share data)
Numerator for basic and diluted income (loss) per common share
Net income (loss)	$	81,111	$	97,864	$	(103,994)
Less: Net income allocated to unvested participating restricted stock	(2,174)		(2,295)		(420)
Net income (loss) available to common stockholders - basic	78,937		95,569		(104,414)
Effect of unvested participating restricted stock	1		13		—
Numerator - income (loss) available to common shareholders - diluted	$	78,938	$	95,582	$	(104,414)
Denominator
Weighted average outstanding shares of common stock - basic	15,873		16,799		16,230
Effect of dilutive securities:
Stock options	28		91		—
Weighted average outstanding shares of common stock - diluted	15,901		16,890		16,230
Net income (loss) per common share
Basic	$	4.97	$	5.69	$	(6.43)
Diluted	$	4.96	$	5.66	$	(6.43)

Segment Reporting (Tables)

12 Months Ended

Dec. 31, 2022

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

Information on segments and a reconciliation of gross profit to income (loss) before income taxes is as follows:


	Year Ended December 31,
	2022		2021		2020
Revenues			(In millions)
Franchise operations	$	662.4	$	631.9	$	469.5
Rental operations	116.5		113.9		105.9
Company restaurants	126.9		146.0		108.1
Financing operations	3.6		4.3		5.8
Total	$	909.4	$	896.2	$	689.3

Gross profit (loss), by segment
Franchise operations	$	340.5	$	336.0	$	230.5
Rental operations	28.5		26.1		16.4
Company restaurants	5.1		9.3		(3.5)
Financing operations	3.2		3.8		5.3
Total gross profit	377.3		375.2		248.7
Corporate and unallocated expenses, net	(262.6)		(253.3)		(357.3)
Income (loss) before income taxes	$	114.8	$	121.9	$	(108.6)

Interest expense
Rental operations	$	4.3	$	4.9	$	6.3
Company restaurants	2.6		3.3		2.7
Corporate	60.7		63.3		66.9
Total	$	67.6	$	71.5	$	75.9

Depreciation and amortization
Franchise operations	$	10.0	$	10.1	$	10.1
Rental operations	10.7		11.1		12.3
Company restaurants	4.3		7.0		7.0
Corporate	13.0		11.7		13.4
Total	$	38.0	$	39.9	$	42.8

Goodwill and intangible assets, closure and other impairment charges
Franchise operations	$	3.1	$	1.7	$	122.1
Company restaurants	—		3.7		10.5

Total	$	3.1	$	5.4	$	132.6

Capital expenditures

Company restaurants	$	4.3	$	6.5	$	2.7
Corporate	31.0		10.3		8.2
Total	$	35.3	$	16.8	$	10.9

Goodwill
Franchise operations	$	254.0	$	247.0	$	247.0
Company restaurants	—		4.6		4.6
Total	$	254.0	$	251.6	$	251.6

Total assets
Franchise operations	$	1,123.0	$	991.0	$	997.7
Rental operations	390.6		426.6		451.5
Company restaurants	3.3		117.2		121.1
Financing operations	31.8		39.7		49.9
Corporate	332.8		424.9		454.7
Total	$	1,881.5	$	1,999.4	$	2,074.9

Business Acquisition (Tables)

12 Months Ended

Dec. 31, 2022

Business Combinations [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table summarizes the estimated fair value of net assets acquired at December 13, 2022:


	(In millions)
Receivables and other current assets	$	1.1
Property and equipment and other non-current assets	2.1
Tradename	57.2
Franchise agreements	14.8
Other intangible assets	0.5
Goodwill	7.0
Accounts payable and other liabilities	(4.4)
Net cash paid for acquisition	$	78.3

The Company (Details)	Dec. 31, 2022 restaurant uSState territory country	Dec. 31, 2021 restaurant	Dec. 31, 2020 restaurant
IHOP
Franchisor Disclosure [Line Items]
Number of restaurants	1,781
Number of states in which entity operates \| uSState	50
Number of territories in which entity operates \| territory	2
Number of countries outside the United States in which the entity operates \| country	9
IHOP \| Franchised
Franchisor Disclosure [Line Items]
Number of restaurants	1,625
IHOP \| Licensing Agreements
Franchisor Disclosure [Line Items]
Number of restaurants	156
Applebee's
Franchisor Disclosure [Line Items]
Number of states in which entity operates \| uSState	49
Number of territories in which entity operates \| territory	2
Number of countries outside the United States in which the entity operates \| country	11
Applebee's \| Franchised
Franchisor Disclosure [Line Items]
Number of restaurants	1,678
Applebee's \| Entity Operated Units
Franchisor Disclosure [Line Items]
Number of restaurants	69	69	69
Fuzzy's
Franchisor Disclosure [Line Items]
Number of restaurants	137
Number of states in which entity operates \| uSState	18
Fuzzy's \| Franchised
Franchisor Disclosure [Line Items]
Number of restaurants	134
Fuzzy's \| Entity Operated Units
Franchisor Disclosure [Line Items]
Number of restaurants	3

Basis of Presentation and Summary of Significant Accounting Policies - Narrative (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($) restaurant territory country franchisee reportableUnit revenueCategory segment	Dec. 31, 2021 USD ($) restaurant	Dec. 31, 2020 USD ($) restaurant	Oct. 31, 2022 restaurant
Concentration Risk [Line Items]
Non-current restricted cash \| $	$ 16,400	$ 16,400
Number of reporting units \| reportableUnit	4
Category of revenue categories \| revenueCategory	4
Advertising expense \| $	$ 5,600	6,800	$ 5,200
Number of operating segments \| segment	6
Number of reporting segments \| segment	4
Gift Card Breakage Revenue
Concentration Risk [Line Items]
Total franchise revenues \| $	$ 300	$ 300	$ 300
Sales Revenue, Net \| Revenue from Rights Concentration Risk \| Largest Franchisees
Concentration Risk [Line Items]
Concentration risk by percentage	18.80%	18.00%	17.10%
Sales Revenue, Net \| Revenue from Rights Concentration Risk \| Largest Franchisees \| Franchisee One
Concentration Risk [Line Items]
Concentration risk by percentage	12.50%	11.80%	11.00%
Accounts Receivable \| Revenue from Rights Concentration Risk \| Largest Franchisees
Concentration Risk [Line Items]
Net accounts receivable \| $	$ 20,900	$ 19,700
Applebee's
Concentration Risk [Line Items]
Number of territories in which entity operates \| territory	2
Number of countries outside the United States in which the entity operates \| country	11
Applebee's \| Franchised
Concentration Risk [Line Items]
Number of restaurants	1,678
Applebee's \| Entity Operated Units
Concentration Risk [Line Items]
Number of restaurants	69	69	69
Number of restaurants sold				69
IHOP
Concentration Risk [Line Items]
Number of restaurants	1,781
Number of territories in which entity operates \| territory	2
Number of countries outside the United States in which the entity operates \| country	9
IHOP \| Franchised
Concentration Risk [Line Items]
Number of restaurants	1,625
IHOP \| Franchised Units or Licensing Agreements
Concentration Risk [Line Items]
Number of restaurants	1,781
Fuzzy's
Concentration Risk [Line Items]
Number of restaurants	137
Fuzzy's \| Franchised
Concentration Risk [Line Items]
Number of restaurants	134
Fuzzy's \| Entity Operated Units
Concentration Risk [Line Items]
Number of restaurants	3
Domestic \| Sales Revenue, Net \| Revenue from Rights Concentration Risk \| Largest Franchisees
Concentration Risk [Line Items]
Number of franchisees \| franchisee	2
Number of restaurants	825
Concentration risk by percentage	25.40%
Domestic \| Applebee's \| Sales Revenue, Net \| Revenue from Rights Concentration Risk \| Largest Franchisees
Concentration Risk [Line Items]
Number of franchisees \| franchisee	1
Domestic \| IHOP \| Sales Revenue, Net \| Revenue from Rights Concentration Risk \| Largest Franchisees
Concentration Risk [Line Items]
Number of franchisees \| franchisee	1

Basis of Presentation and Summary of Significant Accounting Policies - Schedule of Cash and Cash Equivalents (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	$ 269,655	$ 361,412
Money market funds
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	75,000	30,000
IHOP advertising funds and gift card programs
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	96,700	101,500
Other depository accounts
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	$ 98,000	$ 229,900

Basis of Presentation and Summary of Significant Accounting Policies - Components of Restricted Cash (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Restricted Cash and Cash Equivalents Items [Line Items]
Total current restricted cash	$ 38.9	$ 47.5
Securitized debt reserves
Restricted Cash and Cash Equivalents Items [Line Items]
Total current restricted cash	32.4	29.9
Applebee's advertising funds
Restricted Cash and Cash Equivalents Items [Line Items]
Total current restricted cash	5.4	17.5
Other
Restricted Cash and Cash Equivalents Items [Line Items]
Total current restricted cash	$ 1.1	$ 0.1

Basis of Presentation and Summary of Significant Accounting Policies - General Range of Depreciable and Amortizable Property and Equipment Lives (Details)	12 Months Ended
	Dec. 31, 2022
Minimum \| Buildings and improvements
Property and Equipment [Line Items]
Useful life of property and equipment	25 years
Minimum \| Leaseholds and improvements
Property and Equipment [Line Items]
Useful life of property and equipment	3 years
Minimum \| Equipment and fixtures
Property and Equipment [Line Items]
Useful life of property and equipment	3 years
Minimum \| Internal-use software
Property and Equipment [Line Items]
Useful life of property and equipment	3 years
Maximum \| Buildings and improvements
Property and Equipment [Line Items]
Useful life of property and equipment	40 years
Maximum \| Leaseholds and improvements
Property and Equipment [Line Items]
Useful life of property and equipment	40 years
Maximum \| Equipment and fixtures
Property and Equipment [Line Items]
Useful life of property and equipment	5 years
Maximum \| Internal-use software
Property and Equipment [Line Items]
Useful life of property and equipment	10 years

Basis of Presentation and Summary of Significant Accounting Policies - Fair Value of Financial Instruments (Details) - Level 2 - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Face value of Series 2019-1 Fixed Rate Senior Secured Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed rate senior secured notes	$ 1,247.0	$ 1,287.0
Fair value of Series 2019-1 Fixed Rate Senior Secured Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed rate senior secured notes	$ 1,167.0	$ 1,312.9

Revenue - Disaggregation of Franchise Revenue by Major Type (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Franchise Revenues
Disaggregation of Revenue [Line Items]
Total franchise revenues	$ 662,438	$ 631,936	$ 469,453
Royalties
Disaggregation of Revenue [Line Items]
Total franchise revenues	303,724	292,372	215,214
Advertising fees
Disaggregation of Revenue [Line Items]
Total franchise revenues	289,328	274,790	201,494
Pancake and waffle dry mix sales and other
Disaggregation of Revenue [Line Items]
Total franchise revenues	60,749	51,250	38,936
Franchise and development fees
Disaggregation of Revenue [Line Items]
Total franchise revenues	$ 8,637	$ 13,524	$ 13,809

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 4
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130543-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130545-203045

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 924
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-URI https://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

Revenue - Narrative (Details) - Receivables From Franchise Revenue Transactions - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Billed and unbilled receivables	$ 69.0	$ 66.0
Billed and unbilled receivables, accumulated allowance for credit loss	$ 1.3	$ 1.1

Revenue - Changes in the Company's contract liability for deferred franchise and development fees (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($)
Change in Contract with Customer, Liability [Roll Forward]
Balance at December 31, 2021	$ 53,346
Recognized as revenue during the year ended December 31, 2022	(8,518)
Fees deferred during the year ended December 31, 2022	4,044
Acquisition addition	621
Balance at December 31, 2022	$ 49,493

Revenue - Deferred revenue expected to be recognized (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Revenue from Contract with Customer [Abstract]
Performance obligations expected to be satisfied	$ 49,493
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Revenue from Contract with Customer [Abstract]
Performance obligations expected to be satisfied	$ 7,150
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations expected to be satisfied, expected timing	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Revenue from Contract with Customer [Abstract]
Performance obligations expected to be satisfied	$ 6,478
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations expected to be satisfied, expected timing	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Revenue from Contract with Customer [Abstract]
Performance obligations expected to be satisfied	$ 5,699
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations expected to be satisfied, expected timing	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01
Revenue from Contract with Customer [Abstract]
Performance obligations expected to be satisfied	$ 4,850
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations expected to be satisfied, expected timing	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01
Revenue from Contract with Customer [Abstract]
Performance obligations expected to be satisfied	$ 3,954
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations expected to be satisfied, expected timing	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2028-01-01
Revenue from Contract with Customer [Abstract]
Performance obligations expected to be satisfied	$ 21,362
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations expected to be satisfied, expected timing

Current Expected Credit Losses ("CECL") - Narrative (Details) $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($) lease	Dec. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes receivable, interest rate	5.30%	4.00%
Operating lease, weighted average remaining lease term	6 years 3 months
Finance lease, weighted average remaining lease term	7 years 4 months 28 days
IHOP
Accounts, Notes, Loans and Financing Receivable [Line Items]
Average interest rate	9.80%	9.90%
Notes Receivable Portfolio Segment \| Applebee's
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts and financing receivable, allowance for credit loss \| $	$ 8.8
Equipment Receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Operating lease, weighted average remaining lease term	3 years 10 months 24 days
Real estate leases receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of properties subject to ground leases \| lease	48
Finance lease, weighted average remaining lease term	10 years 2 months 12 days
Minimum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes receivable, term	1 year
Maximum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes receivable, term	8 years

Current Expected Credit Losses ("CECL") - Components of Receivables (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Receivables
Accounts receivable	$ 67,500	$ 63,600
Gift card receivables	34,600	33,400
Notes receivable	17,200	19,700
Financing receivables	62,300
Accounts and financing receivable, before allowance for credit loss	170,000	174,400
Less: allowance for doubtful accounts and notes receivable	(10,300)	(11,900)
Receivables, net	159,700	162,500
Less: current portion	(119,981)	(119,968)
Long-term receivables	39,700	42,500
Equipment leases receivable
Receivables
Financing receivables	26,600	33,400
Real estate leases receivable
Receivables
Financing receivables	18,500	16,700
Other receivables
Receivables
Financing receivables	$ 5,600	$ 7,600

Current Expected Credit Losses ("CECL") - Changes in the Allowance for Credit Losses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 11,900	$ 23,100
Bad debt (credit) expense	261	(4,928)	$ 12,756
Advertising provision adjustment	(500)	(1,900)
Write-offs	(1,500)	(4,600)
Recoveries	100	200
Ending balance	10,300	11,900	23,100
Accounts Receivable
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	1,000	11,200
Bad debt (credit) expense	(100)	(8,200)
Advertising provision adjustment	500	(1,800)
Write-offs	(300)	(200)
Recoveries	100	0
Ending balance	1,200	1,000	11,200
Notes receivable, short-term
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	3,800	3,600
Bad debt (credit) expense	1,400	1,400
Advertising provision adjustment	(800)	(300)
Write-offs	(900)	(900)
Recoveries	0	0
Ending balance	3,500	3,800	3,600
Notes receivable, long-term
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	6,600	5,300
Bad debt (credit) expense	(1,100)	1,100
Advertising provision adjustment	(200)	200
Write-offs	0	0
Recoveries	0	0
Ending balance	5,300	6,600	5,300
Lease Receivables
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	200	400
Bad debt (credit) expense	0	100
Advertising provision adjustment	0	0
Write-offs	(0)	(500)
Recoveries	0	200
Ending balance	200	200	400
Equipment Receivables
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	100	2,300
Bad debt (credit) expense	(0)	800
Advertising provision adjustment	0	0
Write-offs	(0)	(3,000)
Recoveries	0	0
Ending balance	100	100	2,300
Other
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	200	300
Bad debt (credit) expense	0	(100)
Advertising provision adjustment	0	0
Write-offs	(300)	0
Recoveries	0	0
Ending balance	$ (100)	$ 200	$ 300

Current Expected Credit Losses ("CECL") - Delinquency Status of Receivables (Details) $ in Millions	Dec. 31, 2022 USD ($)
Financing Receivable, Past Due [Line Items]
Financing receivables	$ 62.3
Current
Financing Receivable, Past Due [Line Items]
Financing receivables	60.7
30-59 days
Financing Receivable, Past Due [Line Items]
Financing receivables	0.0
60-89 days
Financing Receivable, Past Due [Line Items]
Financing receivables	0.0
90-119 days
Financing Receivable, Past Due [Line Items]
Financing receivables	0.0
120+ days
Financing Receivable, Past Due [Line Items]
Financing receivables	1.6
Notes receivable, short-term
Financing Receivable, Past Due [Line Items]
Financing receivables	6.5
Notes receivable, short-term \| Current
Financing Receivable, Past Due [Line Items]
Financing receivables	4.9
Notes receivable, short-term \| 30-59 days
Financing Receivable, Past Due [Line Items]
Financing receivables	0.0
Notes receivable, short-term \| 60-89 days
Financing Receivable, Past Due [Line Items]
Financing receivables	0.0
Notes receivable, short-term \| 90-119 days
Financing Receivable, Past Due [Line Items]
Financing receivables	0.0
Notes receivable, short-term \| 120+ days
Financing Receivable, Past Due [Line Items]
Financing receivables	1.6
Notes receivable, long-term
Financing Receivable, Past Due [Line Items]
Financing receivables	10.7
Notes receivable, long-term \| Current
Financing Receivable, Past Due [Line Items]
Financing receivables	10.7
Notes receivable, long-term \| 30-59 days
Financing Receivable, Past Due [Line Items]
Financing receivables	0.0
Notes receivable, long-term \| 60-89 days
Financing Receivable, Past Due [Line Items]
Financing receivables	0.0
Notes receivable, long-term \| 90-119 days
Financing Receivable, Past Due [Line Items]
Financing receivables	0.0
Notes receivable, long-term \| 120+ days
Financing Receivable, Past Due [Line Items]
Financing receivables	0.0
Lease Receivables
Financing Receivable, Past Due [Line Items]
Financing receivables	18.5
Lease Receivables \| Current
Financing Receivable, Past Due [Line Items]
Financing receivables	18.5
Lease Receivables \| 30-59 days
Financing Receivable, Past Due [Line Items]
Financing receivables	0.0
Lease Receivables \| 60-89 days
Financing Receivable, Past Due [Line Items]
Financing receivables	0.0
Lease Receivables \| 90-119 days
Financing Receivable, Past Due [Line Items]
Financing receivables	0.0
Lease Receivables \| 120+ days
Financing Receivable, Past Due [Line Items]
Financing receivables	0.0
Equipment Receivables
Financing Receivable, Past Due [Line Items]
Financing receivables	26.6
Equipment Receivables \| Current
Financing Receivable, Past Due [Line Items]
Financing receivables	26.6
Equipment Receivables \| 30-59 days
Financing Receivable, Past Due [Line Items]
Financing receivables	0.0
Equipment Receivables \| 60-89 days
Financing Receivable, Past Due [Line Items]
Financing receivables	0.0
Equipment Receivables \| 90-119 days
Financing Receivable, Past Due [Line Items]
Financing receivables	0.0
Equipment Receivables \| 120+ days
Financing Receivable, Past Due [Line Items]
Financing receivables	0.0
Other
Financing Receivable, Past Due [Line Items]
Financing receivables	0.0
Other \| Current
Financing Receivable, Past Due [Line Items]
Financing receivables	0.0
Other \| 30-59 days
Financing Receivable, Past Due [Line Items]
Financing receivables	0.0
Other \| 60-89 days
Financing Receivable, Past Due [Line Items]
Financing receivables	0.0
Other \| 90-119 days
Financing Receivable, Past Due [Line Items]
Financing receivables	0.0
Other \| 120+ days
Financing Receivable, Past Due [Line Items]
Financing receivables	$ 0.0

Current Expected Credit Losses ("CECL") - Year of Origination of Financing Receivables (Details) $ in Millions	Dec. 31, 2022 USD ($)
Financing Receivable, Credit Quality Indicator [Line Items]
Total	$ 62.3
Total
Financing Receivable, Credit Quality Indicator [Line Items]
2022	10.1
2021	12.6
2020	1.7
2019	0.7
2018	0.0
Prior	37.2
Total	62.3
Notes receivable, short and long-term
Financing Receivable, Credit Quality Indicator [Line Items]
2022	1.6
2021	10.1
2020	0.4
2019	0.0
2018	0.0
Prior	5.1
Total	17.2
Lease Receivables
Financing Receivable, Credit Quality Indicator [Line Items]
2022	8.5
2021	2.5
2020	1.3
2019	0.7
2018	0.0
Prior	5.5
Total	18.5
Equipment Receivables
Financing Receivable, Credit Quality Indicator [Line Items]
2022	0.0
2021	0.0
2020	0.0
2019	0.0
2018	0.0
Prior	26.6
Total	$ 26.6

Property and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Property and Equipment [Line Items]
Property and equipment, gross	$ 479,000	$ 534,900
Less: accumulated depreciation and amortization	(333,700)	(355,500)
Property and equipment, net	145,277	179,411
Leaseholds and improvements
Property and Equipment [Line Items]
Property and equipment, gross	211,500	221,100
Properties under finance leases
Property and Equipment [Line Items]
Properties under finance leases	56,700	94,600
Equipment and fixtures
Property and Equipment [Line Items]
Property and equipment, gross	41,500	52,500
Buildings and improvements
Property and Equipment [Line Items]
Property and equipment, gross	51,300	54,200
Land
Property and Equipment [Line Items]
Property and equipment, gross	47,800	51,300
Internal-use software
Property and Equipment [Line Items]
Property and equipment, gross	52,600	55,700
Construction in progress
Property and Equipment [Line Items]
Property and equipment, gross	$ 17,600	$ 5,500

Property and Equipment - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Abstract]
Depreciation expense on property equipment	$ 27.4	$ 29.2	$ 31.9
Accumulated amortization for properties under finance lease	$ 45.3	$ 52.7

Goodwill - Narrative (Details)	1 Months Ended	12 Months Ended
Goodwill - Narrative (Details)	Oct. 31, 2022 USD ($) restaurant	Dec. 31, 2022 USD ($)	Dec. 31, 2020 USD ($)
Goodwill [Line Items]
Disposition of assets		$ 4,600,000
Goodwill acquired during period		7,000,000.0
Goodwill, impairment loss			$ 92,200,000
Entity Operated Units \| Applebee's
Goodwill [Line Items]
Disposition of assets	$ 4,600,000
Number of restaurants sold \| restaurant	69
Goodwill acquired during period		0
Goodwill, impairment loss			0
Franchised \| Applebee's
Goodwill [Line Items]
Disposition of assets		0
Goodwill acquired during period		0
Goodwill, impairment loss			92,200,000
Franchised \| Fuzzy's
Goodwill [Line Items]
Disposition of assets		0
Goodwill acquired during period		$ 7,000,000
Goodwill, impairment loss			$ 0

Goodwill - Changes In Carrying Amount of Goodwill (Details) - USD ($)	1 Months Ended	12 Months Ended
	Oct. 31, 2022	Dec. 31, 2022	Dec. 31, 2020
Goodwill [Roll Forward]
Goodwill, beginning balance		$ 251,628,000	$ 343,800,000
Impairment loss			(92,200,000)
Disposition of assets		(4,600,000)
Business acquisition		7,000,000.0
Goodwill, ending balance		253,956,000	251,600,000
Applebee's \| Franchised
Goodwill [Roll Forward]
Goodwill, beginning balance		236,200,000	328,400,000
Impairment loss			(92,200,000)
Disposition of assets		0
Business acquisition		0
Goodwill, ending balance		236,200,000	236,200,000
Applebee's \| Entity Operated Units
Goodwill [Roll Forward]
Goodwill, beginning balance		4,600,000	4,600,000
Impairment loss			0
Disposition of assets	$ (4,600,000)
Business acquisition		0
Goodwill, ending balance		0	4,600,000
IHOP \| Franchised
Goodwill [Roll Forward]
Goodwill, beginning balance		10,800,000	10,800,000
Impairment loss			0
Disposition of assets		0
Business acquisition		0
Goodwill, ending balance		10,800,000	10,800,000
Fuzzy's \| Franchised
Goodwill [Roll Forward]
Goodwill, beginning balance		0	0
Impairment loss			0
Disposition of assets		0
Business acquisition		7,000,000
Goodwill, ending balance		$ 7,000,000.0	$ 0

Goodwill - Gross and net carrying amounts of goodwill (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Goodwill [Line Items]
Gross	$ 709,100	$ 702,100
Accumulated Impairment Loss	(455,100)	(450,500)
Net	253,956	251,628	$ 251,600	$ 343,800
Franchised \| Applebee's
Goodwill [Line Items]
Gross	686,700	686,700
Accumulated Impairment Loss	(450,500)	(450,500)
Net	236,200	236,200	236,200	328,400
Franchised \| IHOP
Goodwill [Line Items]
Gross	10,800	10,800
Accumulated Impairment Loss	0	0
Net	10,800	10,800	10,800	10,800
Franchised \| Fuzzy's
Goodwill [Line Items]
Gross	7,000	0
Accumulated Impairment Loss	0	0
Net	7,000	0	0	0
Entity Operated Units \| Applebee's
Goodwill [Line Items]
Gross	4,600	4,600
Accumulated Impairment Loss	(4,600)	0
Net	$ 0	$ 4,600	$ 4,600	$ 4,600

- Definition

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

Other Intangible Assets - Other Intangible Assets Roll Forward (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Indefinite-lived Intangible Assets [Line Items]
Impairment, Intangible Asset, Finite-Lived, Statement of Income or Comprehensive Income [Extensible Enumeration]			Closure and impairment charges
Indefinite-lived Intangible Assets [Roll Forward]
Beginning of period	$ 67,200
Amortization expense	(10,559)	$ (10,679)	$ (10,903)
End of period	66,800	67,200
Total other intangible assets, beginning of period	539,390	549,700	575,100
Total intangible assets, impairment			(15,100)
Total intangible assets, amortization expense	(10,559)	(10,679)	(10,903)
Total Intangible assets, additions	72,800	400	500
Total intangible assets, disposition	(4,700)
Total other intangible assets, end of period	597,028	539,390	549,700
Tradenames
Indefinite-lived Intangible Assets [Line Items]
Beginning of period	468,000	468,000	479,000
Impairment			(11,000)
Additions	57,200	0	0
Disposition	0
End of period	525,200	468,000	468,000
Other
Indefinite-lived Intangible Assets [Line Items]
Beginning of period	4,200	3,800	3,200
Impairment			0
Additions	800	400	600
Disposition	0
End of period	5,000	4,200	3,800
Franchising Rights
Indefinite-lived Intangible Assets [Roll Forward]
Beginning of period	59,000	69,000	79,000
Impairment			0
Amortization expense	(10,000)	(10,000)	(10,000)
Additions	14,800	0	0
Disposition	0
End of period	63,800	59,000	69,000
Total intangible assets, amortization expense	(10,000)	(10,000)	(10,000)
Reacquired Franchise Rights
Indefinite-lived Intangible Assets [Roll Forward]
Beginning of period	5,100	5,700	9,800
Impairment			(3,300)
Amortization expense	(400)	(600)	(800)
Additions	0	0	0
Disposition	(4,700)
End of period	0	5,100	5,700
Total intangible assets, amortization expense	(400)	(600)	(800)
Favorable leaseholds
Indefinite-lived Intangible Assets [Roll Forward]
Beginning of period	3,100	3,200	4,100
Impairment			(800)
Amortization expense	(100)	(100)	(100)
Additions	0	0	0
Disposition	0
End of period	3,000	3,100	3,200
Total intangible assets, amortization expense	$ (100)	$ (100)	$ (100)

Other Intangible Assets - Narrative (Details) $ in Millions	1 Months Ended	12 Months Ended
Other Intangible Assets - Narrative (Details) $ in Millions	Oct. 31, 2022 USD ($) restaurant	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Finite-Lived Intangible Assets [Line Items]
Disposition of assets		$ 4.6
Impairment, Intangible Asset, Indefinite-Lived (Excluding Goodwill), Statement of Income or Comprehensive Income [Extensible Enumeration]				Closure and impairment charges
Amortization expense 2023		14.4
Amortization expense 2024		14.4
Amortization expense 2025		14.4
Amortization expense 2026		14.4
Amortization expense 2027		14.4
Entity Operated Units \| Applebee's
Finite-Lived Intangible Assets [Line Items]
Disposition of assets	$ 4.6
Number of restaurants sold \| restaurant	69
Franchising Rights
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets acquired		14.8	$ 0.0	$ 0.0
Impairment of intangible assets, finite-lived				0.0
Recipes
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets acquired		0.5
Reacquired Franchise Rights
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets acquired		0.0	0.0	0.0
Impairment of intangible assets, finite-lived				3.3
Reacquired Franchise Rights \| Applebee's
Finite-Lived Intangible Assets [Line Items]
Impairment of intangible assets, finite-lived				3.3
Favorable leaseholds
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets acquired		0.0	0.0	0.0
Impairment of intangible assets, finite-lived				0.8
Favorable leaseholds \| Applebee's
Finite-Lived Intangible Assets [Line Items]
Impairment of intangible assets, finite-lived				0.8
Tradenames
Finite-Lived Intangible Assets [Line Items]
Indefinite-lived intangible assets acquired		$ 57.2	$ 0.0	0.0
Impairment of intangible assets, indefinite-lived (excluding goodwill)				$ 11.0

Other Intangible Assets - Schedule of Intangible Assets (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Gross	$ 218.2	$ 211.7
Accumulated Amortization	(151.4)	(144.5)
Net	66.8	67.2
Franchising Rights
Finite-Lived Intangible Assets [Line Items]
Gross	214.8	200.0
Accumulated Amortization	(151.0)	(141.0)
Net	63.8	59.0	$ 69.0	$ 79.0
Reacquired Franchise Rights
Finite-Lived Intangible Assets [Line Items]
Gross	0.0	8.3
Accumulated Amortization	0.0	(3.2)
Net	0.0	5.1	5.7	9.8
Favorable leaseholds
Finite-Lived Intangible Assets [Line Items]
Gross	3.4	3.4
Accumulated Amortization	(0.4)	(0.3)
Net	$ 3.0	$ 3.1	$ 3.2	$ 4.1

Long-Term Debt - Schedule of Debt Components (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Jun. 05, 2019
Debt Instrument [Line Items]
Debt issuance costs	$ (5,100)	$ (7,400)
Long-term debt, net of debt issuance costs	1,341,900	1,279,600
Current portion of long-term debt	(100,000)	0
Long-term debt, net, less current maturities	1,241,914	1,279,623
Series 2019-1 4.194% Fixed Rate Senior Secured Notes, Class A-2-I
Debt Instrument [Line Items]
Senior Notes	$ 653,000	$ 693,000
Debt interest rate (percent)	4.194%	4.194%	4.194%
Series 2019-1 4.723% Fixed Rate Senior Secured Notes, Class A-2-II
Debt Instrument [Line Items]
Senior Notes	$ 594,000	$ 594,000
Debt interest rate (percent)	4.723%	4.723%	4.723%
Series 2022-1 Variable Funding Class A-1, Variable Rate of 5.50% at December 31, 2022
Debt Instrument [Line Items]
Senior Notes	$ 100,000	$ 0
Debt interest rate (percent)	5.50%

Long-Term Debt - Narrative (Details)		1 Months Ended		3 Months Ended	12 Months Ended
Long-Term Debt - Narrative (Details)	Jun. 05, 2019 USD ($) extensionTerm	Aug. 31, 2022 USD ($) renewalPeriod	Mar. 31, 2020 USD ($)	Dec. 31, 2022 USD ($) Rate	Dec. 31, 2022 USD ($) Rate	Dec. 31, 2021 USD ($) Rate	Dec. 31, 2020 USD ($)	Aug. 12, 2022 USD ($)
Debt Instrument [Line Items]
Threshold percentage				50.00%	50.00%
Cash sweeping event \| Rate				175.00%	175.00%
Rapid amortization event \| Rate				120.00%	120.00%
Manager termination event \| Rate				120.00%	120.00%
Interest-only debt service coverage ratio, default event \| Rate				110.00%	110.00%
Debt service coverage ratio \| Rate				410.00%	410.00%
Series 2019-1 4.723% Fixed Rate Senior Secured Notes, Class A-2-II and Series 2019-1 4.194% Fixed Rate Senior Secured Notes, Class A-2-I
Debt Instrument [Line Items]
Number of tranches issued \| extensionTerm	2
Series 2019-1 4.194% Fixed Rate Senior Secured Notes, Class A-2-I
Debt Instrument [Line Items]
Debt interest rate (percent)	4.194%			4.194%	4.194%	4.194%
Debt instrument, face amount	$ 700,000,000
Debt instrument, make-whole premium				$ 0	$ 0
Series 2019-1 4.194% Fixed Rate Senior Secured Notes, Class A-2-I \| Ten Year United States Treasury Bill Rate
Debt Instrument [Line Items]
Basis spread on variable rate	2.15%
Series 2019-1 4.723% Fixed Rate Senior Secured Notes, Class A-2-II
Debt Instrument [Line Items]
Debt interest rate (percent)	4.723%			4.723%	4.723%	4.723%
Debt instrument, face amount	$ 600,000,000
Debt instrument, make-whole premium				$ 500,000	$ 500,000
Series 2019-1 4.723% Fixed Rate Senior Secured Notes, Class A-2-II \| Ten Year United States Treasury Bill Rate
Debt Instrument [Line Items]
Basis spread on variable rate	2.64%
Series 2022-1 Variable Funding Class A-1, Variable Rate of 5.50% at December 31, 2022
Debt Instrument [Line Items]
Debt interest rate (percent)				5.50%	5.50%
Letters of credit outstanding				$ 3,400,000	$ 3,400,000
Line of credit facility, current borrowing capacity				$ 221,600,000	$ 221,600,000
Series 2022-1 Variable Funding Class A-1, Variable Rate of 5.50% at December 31, 2022 \| Revolving Credit Facility
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity		$ 325,000,000						$ 325,000,000
Proceeds from long-term lines of credit		$ 100,000,000
Debt, weighted average interest rate				3.64%	3.64%
Number of renewal periods \| renewalPeriod		2
Renewal period term (in years)		1 year
Interest rate percentage after renewal date					5.00%
Debt issuance costs, gross		$ 6,300,000
Amortization of financing costs					$ 400,000
Debt issuance costs, net				$ 5,900,000	5,900,000
Series 2022-1 Variable Funding Class A-1, Variable Rate of 5.50% at December 31, 2022 \| Revolving Credit Facility \| Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Debt Instrument [Line Items]
Basis spread on variable rate		2.50%
Series 2022-1 Variable Funding Class A-1, Variable Rate of 5.50% at December 31, 2022 \| Letter of Credit \| Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Debt Instrument [Line Items]
Basis spread on variable rate		0.50%
Series 2022-1 Variable Funding Class A-1, Variable Rate of 5.50% at December 31, 2022 \| Letter of Credit \| Federal Funds Rate
Debt Instrument [Line Items]
Basis spread on variable rate		0.50%
Series 2022-1 Variable Funding Class A-1, Variable Rate of 5.50% at December 31, 2022 \| Letter of Credit \| Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate		2.00%
Series 2019-1 Variable Funding Senior Notes Class A-1 [Member] \| Revolving Credit Facility
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity				$ 225,000,000	$ 225,000,000
Line of credit facility, expired amount								$ 225,000,000
Proceeds from long-term lines of credit			$ 220,000,000
Repayments of long-term lines of credit			$ 220,000,000
Line of credit facility, amount outstanding						$ 0
Debt, weighted average interest rate				2.42%	2.42%
Gain (loss) on extinguishment of debt				$ 1,400,000	$ (1,200,000)
Extinguishment of debt				40,000,000
Amortization of financing costs					400,000	$ 600,000	$ 600,000
Debt issuance costs, net				$ 1,500,000	$ 1,500,000
Series 2019-1 Variable Funding Senior Notes Class A-1 [Member] \| Revolving Credit Facility \| London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate					2.15%
Line of credit facility, percentage of advances drawn					60.00%
Series 2019-1 Variable Funding Senior Notes Class A-1 [Member] \| Revolving Credit Facility \| Commercial Paper Funding Rate Of Conduit Investor
Debt Instrument [Line Items]
Basis spread on variable rate					2.15%
Line of credit facility, percentage of advances drawn					40.00%
2019 Class A-2 Notes
Debt Instrument [Line Items]
Additional interest on fixed rate	5.00%
Debt instrument, term	10 years
Covenant compliance, leverage ratio, maximum \| Rate				525.00%	525.00%	525.00%
Ratio of indebtedness to net capital \| Rate				440.00%	440.00%
Debt instrument, periodic payment, principal	$ 3,250,000				$ 3,250,000
Repayments of debt, principle						$ 9,750,000
Debt issuance costs, gross				$ 12,900,000	12,900,000
Amortization of financing costs					2,400,000	$ 2,200,000	$ 2,100,000
Debt issuance costs, net				5,100,000	5,100,000
Debt instrument, annual principal payment				$ 13,000,000	$ 13,000,000
2019 Class A-2 Notes \| Maximum
Debt Instrument [Line Items]
Ratio of indebtedness to net capital \| Rate				525.00%	525.00%

Financing Obligations - Narrative (Details) $ in Millions	1 Months Ended	12 Months Ended
Financing Obligations - Narrative (Details) $ in Millions	Jun. 30, 2008 termExtensionOption	Dec. 31, 2022 USD ($) realProperty	Jun. 13, 2008 USD ($)	May 19, 2008 realProperty
Sale Leaseback Transaction Agreement for Properties
Sale Leaseback Transaction [Line Items]
Parcels of real property under sale leaseback transaction				181
Master Lease Agreement
Sale Leaseback Transaction [Line Items]
Parcels of real property under sale leaseback transaction		181
Gross proceeds of sale leaseback transaction \| $			$ 337.2
Sale leaseback initial term	20 years
Number of options to extend initial leaseback term \| termExtensionOption	4
Extension period for options to extend sale leaseback initial term (in years)	5 years
Properties assigned to franchisee or released from lessor		160
Reduction in property and equipment and financing obligations as a result of sales transactions \| $		$ 286.9

Financing Obligations - Future Minimum Lease Payments (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Sale Leaseback Transaction [Line Items]
2023	$ 8,800
2024	7,300
2025	5,900
2026	5,300
2027	4,300
Thereafter	16,300
Total minimum lease payments	47,900
Less: interest/imputed interest	(10,900)
Total obligations	37,000
Less: current portion	(6,600)
Finance lease obligations, less current maturities	30,377	$ 59,625
Sale-Leaseback Transactions
Sale Leaseback Transaction [Line Items]
2023	4,000
2024	4,600
2025	4,600
2026	4,900
2027	4,600
Thereafter	22,500
Total minimum lease payments	45,200
Less: interest/imputed interest	(15,800)
Total obligations	29,400
Less: current portion	(1,000)
Finance lease obligations, less current maturities	$ 28,400

Leases - Narrative (Details)	Dec. 31, 2022 restaurant lease
Lessee, Lease, Description [Line Items]
Lessor, number of leases requiring additional rent payments based on a percentage of restaurant sales \| lease	325,000
Lessee, number of leases requiring additional rent payments based on a percentage of restaurant sales \| lease	65,000
Finance lease, weighted average remaining lease term	7 years 4 months 28 days
Operating lease, weighted average remaining lease term	6 years 3 months
Finance lease, weighted average discount rate, percent	10.50%
Operating lease, weighted average discount rate, percent	5.50%
IHOP
Lessee, Lease, Description [Line Items]
Number of franchisee-operated restaurants	530
Number of properties leased	52
Lessee, operating lease, renewal term	5 years
IHOP \| Minimum
Lessee, Lease, Description [Line Items]
Lessee, operating lease, term of contract	20 years
IHOP \| Maximum
Lessee, Lease, Description [Line Items]
Lessee, operating lease, term of contract	25 years
Applebee's
Lessee, Lease, Description [Line Items]
Number of franchisee-operated restaurants	1
Number of properties leased	1
Applebee's \| Minimum
Lessee, Lease, Description [Line Items]
Lessee, operating lease, term of contract	10 years
Lessee, operating lease, renewal term	5 years
Applebee's \| Maximum
Lessee, Lease, Description [Line Items]
Lessee, operating lease, term of contract	20 years
Lessee, operating lease, renewal term	20 years

Leases - Components of Lease Cost (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Finance lease cost:
Amortization of right-of-use assets	$ 3.6	$ 4.6	$ 5.0
Interest on lease liabilities	4.5	5.4	6.6
Operating lease cost	83.5	84.4	90.6
Variable lease cost	7.6	7.0	0.8
Short-term lease cost	0.0	0.1	0.0
Sublease income	(106.8)	(104.6)	(96.8)
Lease cost	$ (7.6)	(3.1)	6.2
Previously Reported
Finance lease cost:
Operating lease cost		$ 98.7	$ 109.8

Leases - Future Minimum Lease Payments Under Noncancelable Leases as Lessee (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Finance Leases
2023	$ 8.8
2024	7.3
2025	5.9
2026	5.3
2027	4.3
Thereafter	16.3
Total minimum lease payments	47.9
Less: interest/imputed interest	(10.9)
Total obligations	$ 37.0
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Current maturities of finance lease and financing obligations	Current maturities of finance lease and financing obligations
Less: current portion	$ (6.6)
Long-term lease obligations	30.4
Operating Leases
2023	63.7
2024	74.3
2025	63.9
2026	55.3
2027	37.1
Thereafter	110.0
Total minimum lease payments	404.3
Less: interest/imputed interest	(70.1)
Total obligations	334.2
Less: current portion	(59.1)
Long-term lease obligations	$ 275.1

Leases - Payment for Leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
Principal payments on finance lease obligations	$ 8,946	$ 10,238	$ 12,451
Interest payments on finance lease obligations	4,500	5,400	6,600
Payments on operating leases	83,500	91,700	101,100
Variable lease payments	$ 7,600	$ 6,200	$ 700

Leases - Components of Lease Income (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
Minimum lease payments	$ 96.4	$ 96.0	$ 97.2
Variable lease income	16.9	15.3	5.2
Total operating lease income	$ 113.3	$ 111.3	$ 102.4
Operating Lease, Lease Income, Statement of Income or Comprehensive Income [Extensible Enumeration]	Rental revenues	Rental revenues	Rental revenues

Leases - Future Minimum Payments to be Received as Lessor Under Noncancelable Operating Leases (Details) $ in Millions	Dec. 31, 2022 USD ($)
Leases [Abstract]
2023	$ 103.6
2024	94.8
2025	82.1
2026	67.6
2027	49.5
Thereafter	122.0
Total minimum rents receivable	$ 519.6

Leases - Schedule of Income From Direct Financing Leases (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
Selling profit	$ 0.9	$ 0.0	$ 0.0
Interest income	1.5	2.1	3.4
Variable lease income	$ 0.7	$ 0.5	$ 0.3
Direct Financing Lease, Lease Income, Statement of Income or Comprehensive Income [Extensible Enumeration]	Rental revenues	Rental revenues	Rental revenues
Total financing lease income	$ 3.1	$ 2.6	$ 3.7

Leases - Future Minimum Payments to be Received as Lessor Under Noncancelable Direct Financing Leases (Details) $ in Millions	Dec. 31, 2022 USD ($)
Leases [Abstract]
2023	$ 4.7
2024	2.6
2025	1.8
2026	1.8
2027	1.8
Thereafter	12.4
Total minimum rents receivable	25.1
Less: unearned income	(6.6)
Total real estate leases receivable	18.5
Less: current portion	(3.6)
Long-term real estate leases receivable	$ 14.9

Commitments and Contingencies (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Loss Contingencies [Line Items]
Outstanding purchase commitments	$ 95.6
Letter of Credit \| Series 2022-1 Variable Funding Class A-1, Variable Rate of 5.50% at December 31, 2022
Loss Contingencies [Line Items]
Line of credit facility, available remaining borrowing capacity	3.4
Property Lease Guarantee \| Applebee's
Loss Contingencies [Line Items]
Potential liability for guaranteed leases	445.1	$ 223.1
Potential liability for guaranteed leases excluding unexercised option periods	102.9
Advertising
Loss Contingencies [Line Items]
Outstanding purchase commitments	$ 86.3

Stockholders' Deficit - Narrative (Details) - USD ($)	12 Months Ended
Stockholders' Deficit - Narrative (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Feb. 17, 2022	Feb. 28, 2019
Class of Stock [Line Items]
Stock repurchased during period, value	$ 120,163,000	$ 4,480,000	$ 26,527,000
Reissuance of treasury stock (in shares)	(205,293)	(660,718)	(433,477)
Reissuance of treasury stock	$ 241,000	$ 25,337,000	$ 20,522,000
Treasury Stock
Class of Stock [Line Items]
Reissuance of treasury stock	$ 9,600,000	$ 26,800,000	$ 19,400,000
2019 Repurchase Program
Class of Stock [Line Items]
Authorized amount					$ 200,000,000
Stock repurchased during period (in shares)	588,108	59,099	459,899
Stock repurchased during period, value	$ 41,400,000	$ 4,500,000	$ 26,500,000
2022 Repurchase Program
Class of Stock [Line Items]
Authorized amount				$ 250,000,000
Stock repurchased during period (in shares)	1,149,589
Stock repurchased during period, value	$ 78,700,000

Stockholders' Deficit - Share Repurchases (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Class of Stock [Line Items]
Stock repurchased during period, value	$ 120,163	$ 4,480	$ 26,527
2022 Repurchase Program
Class of Stock [Line Items]
Stock repurchased during period (in shares)	1,149,589
Stock repurchased during period, value	$ 78,700
Cumulative amount of shares repurchased (in shares)	1,149,589
Cumulative payments for repurchase of common stock	$ 78,700
Remaining dollar value of shares that may be repurchased	$ 171,300
2019 Repurchase Program
Class of Stock [Line Items]
Stock repurchased during period (in shares)	588,108	59,099	459,899
Stock repurchased during period, value	$ 41,400	$ 4,500	$ 26,500
Cumulative amount of shares repurchased (in shares)	2,344,804
Cumulative payments for repurchase of common stock	$ 175,800
Remaining dollar value of shares that may be repurchased	$ 24,200

Stockholders' Deficit - Schedule of Dividends Declared (Details) - USD ($) $ / shares in Units, $ in Millions														12 Months Ended
	Jan. 06, 2023	Dec. 02, 2022	Sep. 30, 2022	Sep. 09, 2022	Jul. 08, 2022	May 12, 2022	Apr. 01, 2022	Feb. 17, 2022	Jan. 07, 2022	Dec. 20, 2021	Apr. 03, 2020	Feb. 20, 2020	Jan. 10, 2020	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Class of Stock [Line Items]
Dividends declared per common share (in dollars per share)		$ 0.51		$ 0.51		$ 0.51		$ 0.46		$ 0.40		$ 0.76		$ 1.99	$ 0.40	$ 0.76
Dividends paid per common share (in dollars per share)			$ 0.51		$ 0.51		$ 0.46		$ 0.40		$ 0.76		$ 0.69	$ 1.88		$ 1.45
Dividends paid			$ 8.1		$ 8.2		$ 7.8		$ 6.9		$ 12.7		$ 11.7	$ 31.0		$ 24.4
Subsequent Event
Class of Stock [Line Items]
Dividends paid	$ 8.0

Closure and Long-lived Tangible Asset Impairment Charges (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Restructuring Charges [Abstract]
Closure charges	$ 1.7	$ 3.7	$ 3.0
Long-lived tangible asset impairment	1.4	1.7	22.3
Total closure and long-lived tangible asset impairment charges	$ 3.1	$ 5.4	$ 25.3

Closure and Long-lived Tangible Asset Impairment Charges - Narrative (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($) restaurant	Dec. 31, 2021 USD ($) restaurant	Dec. 31, 2020 USD ($) restaurant
Restructuring Cost and Reserve [Line Items]
Closure charges	$ 1,700	$ 3,700	$ 3,000
Long-lived tangible asset impairment	1,400	1,700	22,300
Operating lease, impairment loss		15,100
Land, Building, Leasehold Improvements And Finance Leases
Restructuring Cost and Reserve [Line Items]
Operating lease, impairment loss		7,200
Maximum
Restructuring Cost and Reserve [Line Items]
Long-lived tangible asset impairment per asset		1,300
Minimum
Restructuring Cost and Reserve [Line Items]
Long-lived tangible asset impairment per asset		5
IHOP
Restructuring Cost and Reserve [Line Items]
Closure charges			$ 1,600
Exit costs	$ 400	$ 2,100
Number of restaurants related to exit costs \| restaurant	3
Number of restaurants related to prior period closure charge revisions \| restaurant		40	28
Revision to existing closure reserves		$ 1,600
Number of restaurants subject to closure charges \| restaurant		20	7
Number of restaurants subject to asset impairment \| restaurant	5	5
IHOP \| Franchised
Restructuring Cost and Reserve [Line Items]
Number of restaurants subject to asset impairment \| restaurant			29
Applebee's \| Entity Operated Units
Restructuring Cost and Reserve [Line Items]
Number of restaurants subject to asset impairment \| restaurant			29

Stock-Based Incentive Plans - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	May 14, 2019	Dec. 31, 2016	Dec. 31, 2011
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment award, options, exercises in period, intrinsic value	$ 37,000	$ 17,900,000	$ 4,300,000
Proceeds from stock options exercised	241,000	25,337,000	20,523,000
Tax benefit realized for tax deduction from option exercises	9,000	4,500,000	1,100,000
Share-based payment arrangement, expense	17,600,000	13,900,000	13,600,000
Employee-related liabilities, current	23,456,000	40,785,000
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost	$ 2,700,000
Unrecognized compensation cost, recognition period	1 year 3 months 18 days
Restricted Stock and Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost	$ 17,500,000
Unrecognized compensation cost, recognition period	1 year 6 months
Cash-Settled Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment arrangement, expense	$ 200,000	1,500,000	300,000
Employee-related liabilities, current	$ 0	900,000
LTIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	3 years
Share-based payment arrangement, expense	$ 1,200,000	800,000	$ 700,000
Employee-related liabilities, current	$ 2,100,000	$ 1,500,000
LTIP \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Multiplier for target award	0.00%
LTIP \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Multiplier for target award	200.00%
Officers, Directors, and Employees \| Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment award, expiration period	10 years
Award vesting period	3 years
Officers, Directors, and Employees \| Restricted Stock and Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	3 years
Vesting share-based awards percentage	33.33%
2019 Stock Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Company’s common stock for incentive stock awards (in shares)				2,050,000
DineEquity, Inc. 2016 Stock Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Company’s common stock for incentive stock awards (in shares)					3,750,000
DineEquity, Inc. 2011 Stock Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Company’s common stock for incentive stock awards (in shares)						1,500,000

Stock-Based Incentive Plans - Stock-Based Compensation Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-Based Payment Arrangement [Abstract]
Equity classified awards expense	$ 16.2	$ 11.6	$ 12.6
Liability classified awards expense	1.4	2.3	1.0
Total pretax stock-based compensation expense	17.6	13.9	13.6
Book income tax benefit	(3.5)	(3.5)	(3.4)
Total stock-based compensation expense, net of tax	$ 14.1	$ 10.4	$ 10.2

Stock-Based Incentive Plans - Equity Classified Awards Stock Options (Details) - Stock Options - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk free interest rate	1.70%	0.50%	1.20%
Weighted average historical volatility	70.10%	67.70%	30.50%
Dividend yield	2.60%	0.00%	3.50%
Expected years until exercise	4 years 6 months	4 years 6 months	4 years 7 months 6 days
Weighted average fair value of options granted (in USD per share)	$ 33.23	$ 40.25	$ 17.53

Stock-Based Incentive Plans - Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Number of Shares Under Option
Beginning of period, outstanding (in shares)	475,904	1,014,670	1,217,438
Granted (in shares)	75,795	95,891	167,969
Exercised (in shares)	(3,505)	(524,536)	(270,024)
Forfeited (in shares)	(6,171)	(59,468)	(45,247)
Expired (in shares)	(2,448)	(50,653)	(55,466)
End of period, outstanding (in shares)	539,575	475,904	1,014,670
Vested and expected to vest (in shares)	528,037
Exercisable (in shares)	378,811
Weighted Average Exercise Price Per Share
Beginning of period, outstanding (in USD per share)	$ 76.65	$ 64.16	$ 66.43
Granted (in USD per share)	70.08	75.28	87.17
Exercised (in USD per share)	68.80	48.79	76.01
Forfeited (in USD per share)	81.13	88.39	86.39
Expired (in USD per share)	94.43	98.61	107.78
End of period, outstanding (in USD per share)	75.65	$ 76.65	$ 64.16
Vested and expected to vest (in USD per share)	75.72
Exercisable (in USD per share)	$ 75.95
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Weighted average remaining contractual term, outstanding (in years)	6 years 9 months 18 days
Weighted average remaining contractual term, vested and expected to vest (in years)	5 years 10 months 24 days
Weighted average remaining contractual term, exercisable (in years)	4 years 10 months 24 days
Aggregate intrinsic value, outstanding	$ 3.5
Aggregate intrinsic value, vested and expected to vest	1.5
Aggregate intrinsic value, exercisable	$ 1.3

Stock-Based Incentive Plans - Disclosure of Restricted Stock Units (Details) - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Restricted Stock
Number of Shares
Beginning of period, outstanding (shares)	276,611	254,331	224,515
Granted (shares)	201,789	141,264	163,522
Released (in shares)	(98,864)	(60,407)	(95,211)
Forfeited (shares)	(23,636)	(58,577)	(38,495)
End of period, outstanding (shares)	355,900	276,611	254,331
Weighted Average Grant-Date Per Share Fair Value
Beginning of period, outstanding (in USD per share)	$ 80.85	$ 76.50	$ 70.52
Granted (in USD per share)	70.12	83.24	73.68
Released (in USD per share)	86.36	66.90	55.75
Forfeited (in USD per share)	75.89	82.09	85.03
End of period, outstanding (in USD per share)	$ 73.57	$ 80.85	$ 76.50
Restricted Stock Units (RSUs)
Number of Shares
Beginning of period, outstanding (shares)	105,592	355,570	357,807
Granted (shares)	60,914	68,998	30,997
Released (in shares)	(42,611)	(318,976)	(33,234)
Forfeited (shares)	0	0	0
End of period, outstanding (shares)	123,895	105,592	355,570
Weighted Average Grant-Date Per Share Fair Value
Beginning of period, outstanding (in USD per share)	$ 71.00	$ 28.01	$ 30.35
Granted (in USD per share)	49.36	63.04	77.33
Released (in USD per share)	66.63	23.19	63.98
Forfeited (in USD per share)	0	0	0
End of period, outstanding (in USD per share)	$ 62.11	$ 71.00	$ 28.01

Stock-Based Incentive Plans - Liability Classified Awards - Cash-settled Restricted Stock Units (Details) - Cash-Settled Restricted Stock Units - shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Cash-Settled Restricted Stock Units
Beginning of period, outstanding (shares)	12,799	52,956	63,852
Granted (shares)	67	0	2,658
Released (shares)	(12,866)	(38,916)	(1,426)
Forfeited (shares)	0	(1,241)	(12,128)
End of period, outstanding (shares)	0	12,799	52,956

Employee Benefit Plans (Details) - USD ($) $ in Millions		12 Months Ended
Employee Benefit Plans (Details) - USD ($) $ in Millions	Jan. 01, 2013	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Defined Contribution Plan Disclosure [Line Items]
Contributions made to 401(k)		$ 3.3	$ 2.9	$ 2.8
First Tier of Deferral
Defined Contribution Plan Disclosure [Line Items]
Percent of gross pay	100.00%
Percent of eligible deferral	4.00%
Second Tier of Deferral
Defined Contribution Plan Disclosure [Line Items]
Percent of gross pay	50.00%
Percent of eligible deferral	2.00%

Income Taxes - Provision (benefit) for income taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Provision (benefit) for income taxes
Federal	$ 27,500	$ 20,200	$ 11,000
State	5,500	4,600	3,100
Foreign	1,800	1,400	1,300
Current income tax expense	34,800	26,200	15,400
Deferred
Federal	(3,800)	2,300	17,300
State	2,700	200	(2,700)
Deferred income tax expense (benefit)	(1,071)	(2,065)	(20,049)
Provision (benefit) for income taxes	$ 33,674	$ 24,059	$ (4,568)

Income Taxes - Income tax rate reconciliation (Details)	12 Months Ended
Income Taxes - Income tax rate reconciliation (Details)	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Statutory federal income tax rate	21.00%	21.00%	21.00%
Non-deductibility of goodwill	0.80%	0.00%	(17.90%)
Non-deductibility of officer's compensation	2.90%	2.20%	(0.90%)
State and other taxes, net of federal tax benefit	3.10%	3.10%	1.20%
Excess tax deficiencies or benefits	(0.50%)	(7.10%)	0.10%
Change in unrecognized tax benefits	0.00%	(0.10%)	2.00%
Change in valuation allowance	(0.30%)	0.50%	(1.50%)
Changes in tax rates and state tax laws	3.40%	0.20%	(0.40%)
General business credits	(1.40%)	(0.90%)	0.80%
Other	0.30%	0.80%	(0.20%)
Effective tax rate	29.30%	19.70%	4.20%

Income Taxes - Narrative (Details)	12 Months Ended
Income Taxes - Narrative (Details)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Oct. 31, 2022 restaurant	Dec. 31, 2019 USD ($)
Income Tax Disclosure [Line Items]
Effective tax rate	29.30%	19.70%	4.20%
Goodwill, impairment loss			$ 92,200,000
Operating loss carryforwards, valuation allowance	$ 1,100,000
Valuation allowance	(3,500,000)	$ (4,200,000)
Operating loss carryforwards	37,900,000	23,600,000
Unrecognized tax benefits	2,100,000	1,900,000	2,200,000		$ 7,600,000
Unrecognized tax benefit changes in next 12 months	500,000
Unrecognized tax benefits, interest on income taxes accrued	700,000	600,000
Unrecognized tax benefits, income tax penalties accrued	$ 100,000	$ 100,000
Entity Operated Units \| Applebee's
Income Tax Disclosure [Line Items]
Number of restaurants sold \| restaurant				69
Goodwill, impairment loss			$ 0

Income Taxes - Net deferred tax assets (liabilities) (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Lease liabilities	$ 93.6	$ 112.9
Employee compensation	9.7	12.1
Revenue recognition	37.1	35.4
Other	8.4	8.4
Deferred tax assets	148.8	168.8
Valuation allowance	(3.5)	(4.2)
Total deferred tax assets after valuation allowance	145.3	164.6
Recognition of franchise and equipment sales	(6.7)	(8.2)
Capitalization and depreciation	(121.0)	(122.7)
Lease assets	(90.8)	(108.6)
Other	(1.5)	(1.3)
Deferred tax liabilities	(220.0)	(240.8)
Net deferred tax liabilities	$ (74.7)	$ (76.2)

Income Taxes - Reconciliation of unrecognized tax benefit (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Unrecognized tax benefit as of January 1	$ 1.9	$ 2.2	$ 7.6
Changes for tax positions of prior years	0.1	0.5	0.0
Increases for tax positions related to the current year	0.4	0.3	0.2
Decreases relating to settlements and lapsing of statutes of limitations	(0.3)	(1.1)	(5.6)
Unrecognized tax benefit as of December 31	$ 2.1	$ 1.9	$ 2.2

Net (Loss) Income Per Share - Computation of Basic and Diluted Earnings per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Numerator for basic and diluted income (loss) per common share
Net income (loss)	$ 81,111	$ 97,864	$ (103,994)
Less: Net income allocated to unvested participating restricted stock	(2,174)	(2,295)	(420)
Net income (loss) available to common stockholders	78,937	95,569	(104,414)
Effect of unvested participating restricted stock	1	13	0
Numerator - income (loss) available to common shareholders - diluted	$ 78,938	$ 95,582	$ (104,414)
Denominator
Weighted average outstanding shares of common stock - basic (in shares)	15,873	16,799	16,230
Stock options (in shares)	28	91	0
Weighted average outstanding shares of common stock - diluted (in shares)	15,901	16,890	16,230
Net income (loss) per common share
Basic (in dollars per share)	$ 4.97	$ 5.69	$ (6.43)
Diluted (in dollars per share)	$ 4.96	$ 5.66	$ (6.43)

Net (Loss) Income Per Share - Narrative (Details)	12 Months Ended
Net (Loss) Income Per Share - Narrative (Details)	Dec. 31, 2020 shares
Earnings Per Share [Abstract]
Antidilutive securities excluded from computation of earnings per share (in shares)	100,056

Segment Reporting (Details) - USD ($) $ in Thousands	12 Months Ended
Segment Reporting (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Segment Reporting Information [Line Items]
Rental revenues	$ 116,491	$ 113,933	$ 105,939
Total revenues	909,402	896,167	689,268
Gross profit (loss), by segment	114,785	121,923	(108,562)
Interest expense	67,600	71,500	75,900
Depreciation and amortization	37,952	39,885	42,829
Goodwill and intangible assets, closure and other impairment charges	3,100	5,400	132,600
Capital expenditures	35,318	16,849	10,927
Goodwill	253,956	251,628	251,600	$ 343,800
Total assets	1,881,491	1,999,366	2,074,900
Operating Segments
Segment Reporting Information [Line Items]
Gross profit (loss), by segment	377,300	375,200	248,700
Goodwill	254,000	251,600	251,600
Corporate
Segment Reporting Information [Line Items]
Gross profit (loss), by segment	(262,600)	(253,300)	(357,300)
Interest expense	60,700	63,300	66,900
Depreciation and amortization	13,000	11,700	13,400
Capital expenditures	31,000	10,300	8,200
Total assets	332,800	424,900	454,700
Franchise operations
Segment Reporting Information [Line Items]
Revenue from contract with customer	662,438	631,936	469,453
Company restaurants
Segment Reporting Information [Line Items]
Revenue from contract with customer	126,869	146,000	108,054
Financing operations
Segment Reporting Information [Line Items]
Revenue from contract with customer	3,604	4,298	5,822
Franchise operations \| Operating Segments
Segment Reporting Information [Line Items]
Gross profit (loss), by segment	340,500	336,000	230,500
Depreciation and amortization	10,000	10,100	10,100
Goodwill and intangible assets, closure and other impairment charges	3,100	1,700	122,100
Total assets	1,123,000	991,000	997,700
Franchise operations \| Franchise operations \| Operating Segments
Segment Reporting Information [Line Items]
Revenue from contract with customer	662,400	631,900	469,500
Goodwill	254,000	247,000	247,000
Rental operations \| Operating Segments
Segment Reporting Information [Line Items]
Rental revenues	116,500	113,900	105,900
Gross profit (loss), by segment	28,500	26,100	16,400
Interest expense	4,300	4,900	6,300
Depreciation and amortization	10,700	11,100	12,300
Total assets	390,600	426,600	451,500
Company restaurants \| Operating Segments
Segment Reporting Information [Line Items]
Gross profit (loss), by segment	5,100	9,300	(3,500)
Interest expense	2,600	3,300	2,700
Depreciation and amortization	4,300	7,000	7,000
Goodwill and intangible assets, closure and other impairment charges	0	3,700	10,500
Capital expenditures	4,300	6,500	2,700
Total assets	3,300	117,200	121,100
Company restaurants \| Company restaurants
Segment Reporting Information [Line Items]
Revenue from contract with customer	126,900	146,000
Company restaurants \| Company restaurants \| Operating Segments
Segment Reporting Information [Line Items]
Revenue from contract with customer			108,100
Goodwill	0	4,600	4,600
Financing operations \| Operating Segments
Segment Reporting Information [Line Items]
Gross profit (loss), by segment	3,200	3,800	5,300
Total assets	31,800	39,700	49,900
Financing operations \| Financing operations \| Operating Segments
Segment Reporting Information [Line Items]
Revenue from contract with customer	$ 3,600	$ 4,300	$ 5,800

Business Acquisition - Narrative (Details) - USD ($) $ in Thousands	Dec. 13, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Business Acquisition [Line Items]
Goodwill		$ 253,956	$ 251,628	$ 251,600	$ 343,800
Fuzzy's
Business Acquisition [Line Items]
Consideration transferred	$ 80,000
Goodwill	$ 7,000
Fuzzy's \| Franchise agreements
Business Acquisition [Line Items]
Weighted average useful life (in years)	20 years

- Definition

+ References + Details

Business Acquisition - Net Assets Acquired (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 13, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Business Acquisition [Line Items]
Goodwill	$ 253,956		$ 251,628	$ 251,600	$ 343,800
Fuzzy's
Business Acquisition [Line Items]
Receivables and other current assets		$ 1,100
Property and equipment and other non-current assets		2,100
Other intangible assets		500
Goodwill		7,000
Accounts payable and other liabilities		(4,400)
Net cash paid for acquisition		78,300
Fuzzy's \| Tradenames
Business Acquisition [Line Items]
Intangible assets		57,200
Fuzzy's \| Franchise agreements
Business Acquisition [Line Items]
Intangible assets		$ 14,800

Subsequent Events (Details) $ in Millions	Feb. 16, 2023 USD ($)
Subsequent Event
Subsequent Event [Line Items]
Debt repurchase program, maximum amount authorized	$ 100.0

Label	Element	Value
Accounting Standards Update [Extensible Enumeration]	us-gaap_AccountingStandardsUpdateExtensibleList	Accounting Standards Update 2016-13 [Member]

- Definition

Indicates amendment to accounting standards.

+ References

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+ Details