0000049754-19-000017 | 10-Q | XBRL Viewer

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Lease Disclosures Narrative (Details)	Sep. 30, 2019 properties real_property restaurant_concept
Lessee, Lease, Description [Line Items]
Number of company-operated restaurants located on leased real estate properties \| properties	69
Lessee, operating lease, renewal term	5 years
Lessor, number of leases requiring additional rent payments based on a percentage of restaurant sales \| real_property	200
Lessee, number of leases requiring additional rent payments based on a percentage of restaurant sales \| real_property	250
Finance lease, weighted average remaining lease term	8 years 7 months 6 days
Operating lease, weighted average remaining lease term	7 years 9 months 18 days
Finance lease, weighted average discount rate, percent	10.40%
Operating lease, weighted average discount rate, percent	5.80%
IHOP
Lessee, Lease, Description [Line Items]
Number of properties leased	60
Applebee's
Lessee, Lease, Description [Line Items]
Number of franchisee-operated restaurants	1
Number of properties leased	1
Minimum \| IHOP
Lessee, Lease, Description [Line Items]
Lessee, operating lease, term of contract	20 years
Minimum \| Applebee's
Lessee, Lease, Description [Line Items]
Lessee, operating lease, term of contract	10 years
Lessee, operating lease, renewal term	5 years
Maximum \| IHOP
Lessee, Lease, Description [Line Items]
Lessee, operating lease, term of contract	25 years
Maximum \| Applebee's
Lessee, Lease, Description [Line Items]
Lessee, operating lease, term of contract	20 years
Lessee, operating lease, renewal term	20 years

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 100,518	$ 137,164
Receivables, net	91,426	137,504
Restricted cash	36,694	48,515
Prepaid gift card costs	29,090	38,195
Prepaid income taxes	11,349	17,402
Other current assets	6,928	3,410
Total current assets	276,005	382,190
Other intangible assets, net	577,357	585,889
Operating lease right-of-use assets	370,500	0
Goodwill	343,862	345,314
Property and equipment, net	220,744	240,264
Long-term receivables, net	93,262	103,102
Deferred rent receivable	72,366	77,069
Non-current restricted cash	15,700	14,700
Other non-current assets, net	27,712	26,152
Total assets	1,997,508	1,774,680
Current liabilities:
Current maturities of long-term debt	0	25,000
Accounts payable	33,689	43,468
Gift card liability	103,756	160,438
Current maturities of operating lease obligations	67,815	0
Current maturities of finance lease and financing obligations	13,219	14,031
Accrued employee compensation and benefits	21,410	27,479
Dividends payable	11,831	11,389
Deferred franchise revenue, short-term	10,328	10,138
Other accrued expenses	28,686	24,243
Total current liabilities	290,734	316,186
Long-term debt, less current maturities	1,287,738	1,274,087
Operating lease obligations, less current maturities	369,164	0
Finance lease obligations, less current maturities	81,317
Finance lease obligations, less current maturities		87,762
Financing obligations, less current maturities	37,939	38,482
Deferred income taxes, net	100,455	105,816
Deferred franchise revenue, long-term	57,997	64,557
Other non-current liabilities	11,946	90,063
Total liabilities	2,237,290	1,976,953
Commitments and contingencies
Stockholders’ deficit:
Common stock, $0.01 par value; shares: 40,000,000 authorized; September 30, 2019 - 24,934,363 issued, 16,786,860 outstanding; December 31, 2018 - 24,984,898 issued, 17,644,267 outstanding	249	250
Additional paid-in-capital	243,358	237,726
Retained earnings	45,939	10,414
Accumulated other comprehensive loss	(60)	(60)
Treasury stock, at cost; shares: September 30, 2019 - 8,147,503; December 31, 2018 - 7,340,631	(529,268)	(450,603)
Total stockholders’ deficit	(239,782)	(202,273)
Total liabilities and stockholders’ deficit	$ 1,997,508	$ 1,774,680

Consolidated Statements of Stockholders' Deficit - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Loss	Treasury Stock
Common stock, shares, outstanding, beginning (in shares) at Dec. 31, 2017		17,993,000
Stockholders' equity balance, beginning of the period at Dec. 31, 2017	$ (215,540)	$ 250	$ 276,408	$ (69,940)	$ (105)	$ (422,153)
Treasury stock, shares, beginning (in shares) at Dec. 31, 2017						7,029,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	53,373			53,373
Other comprehensive gain (loss)	44				44
Purchase of Company common stock (in shares)		(384,000)				384,000
Purchase of Company common stock	(27,880)					$ (27,880)
Reissuance of treasury stock (in shares)		165,000				(165,000)
Reissuance of treasury stock	3,886	$ 0	(2,506)			$ 6,392
Net issuance of shares for stock plans (in shares)		(8,000)
Net issuance of shares for stock plans	0
Repurchase of restricted shares for taxes (in shares)		(23,000)
Repurchase of restricted shares for taxes	(1,731)		(1,731)
Stock-based compensation	8,016		8,016
Dividends on common stock	0		0	0
Dividends on common stock in excess of retained earnings	(33,562)		(33,562)
Common stock, shares, outstanding, ending (in shares) at Sep. 30, 2018		17,743,000
Stockholders' equity balance, ending of the period at Sep. 30, 2018	(213,394)	$ 250	246,625	(16,567)	(61)	$ (443,641)
Treasury stock, shares, ending (in shares) at Sep. 30, 2018						7,248,000
Common stock, shares, outstanding, beginning (in shares) at Jun. 30, 2018		17,803,000
Stockholders' equity balance, beginning of the period at Jun. 30, 2018	(223,251)	$ 250	254,912	(40,154)	(61)	$ (438,198)
Treasury stock, shares, beginning (in shares) at Jun. 30, 2018						7,202,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	23,587			23,587
Purchase of Company common stock (in shares)		(108,000)				108,000
Purchase of Company common stock	(7,877)					$ (7,877)
Reissuance of treasury stock (in shares)		62,000				(62,000)
Reissuance of treasury stock	3,266	$ 0	832			$ 2,434
Net issuance of shares for stock plans (in shares)		(10,000)
Net issuance of shares for stock plans	0
Repurchase of restricted shares for taxes (in shares)		(4,000)
Repurchase of restricted shares for taxes	(331)		(331)
Stock-based compensation	2,375		2,375
Dividends on common stock	0		0	0
Dividends on common stock in excess of retained earnings	(11,163)		(11,163)
Common stock, shares, outstanding, ending (in shares) at Sep. 30, 2018		17,743,000
Stockholders' equity balance, ending of the period at Sep. 30, 2018	$ (213,394)	$ 250	246,625	(16,567)	(61)	$ (443,641)
Treasury stock, shares, ending (in shares) at Sep. 30, 2018						7,248,000
Common stock, shares, outstanding, beginning (in shares) at Dec. 31, 2018	17,644,267	17,644,000
Stockholders' equity balance, beginning of the period at Dec. 31, 2018	$ (202,273)	$ 250	237,726	10,414	(60)	$ (450,603)
Treasury stock, shares, beginning (in shares) at Dec. 31, 2018	7,340,631					7,341,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 76,950			76,950
Purchase of Company common stock (in shares)		(1,067,000)				1,067,000
Purchase of Company common stock	$ (90,073)					$ (90,073)
Reissuance of treasury stock (in shares)	260,474	260,000				(260,000)
Reissuance of treasury stock	$ 10,671	$ (1)	(736)			$ 11,408
Net issuance of shares for stock plans (in shares)		(22,000)
Net issuance of shares for stock plans	0
Repurchase of restricted shares for taxes (in shares)		(28,000)
Repurchase of restricted shares for taxes	(2,589)		(2,589)
Stock-based compensation	8,220		8,220
Dividends on common stock	$ (35,658)		(737)	(36,395)
Common stock, shares, outstanding, ending (in shares) at Sep. 30, 2019	16,786,860	16,787,000
Stockholders' equity balance, ending of the period at Sep. 30, 2019	$ (239,782)	$ 249	243,358	45,939	(60)	$ (529,268)
Treasury stock, shares, ending (in shares) at Sep. 30, 2019	8,147,503					8,148,000
Common stock, shares, outstanding, beginning (in shares) at Jun. 30, 2019		17,252,000
Stockholders' equity balance, beginning of the period at Jun. 30, 2019	$ (215,125)	$ 249	240,555	33,832	(59)	$ (489,702)
Treasury stock, shares, beginning (in shares) at Jun. 30, 2019						7,697,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	23,917			23,917
Other comprehensive gain (loss)	(1)				(1)
Purchase of Company common stock (in shares)		(524,000)				524,000
Purchase of Company common stock	(42,717)					$ (42,717)
Reissuance of treasury stock (in shares)		73,000				(73,000)
Reissuance of treasury stock	3,733	$ 0	582			$ 3,151
Net issuance of shares for stock plans (in shares)		(10,000)
Net issuance of shares for stock plans	0
Repurchase of restricted shares for taxes (in shares)		(4,000)
Repurchase of restricted shares for taxes	(347)		(347)
Stock-based compensation	2,326		2,326
Dividends on common stock	$ (11,568)		(242)	(11,810)
Common stock, shares, outstanding, ending (in shares) at Sep. 30, 2019	16,786,860	16,787,000
Stockholders' equity balance, ending of the period at Sep. 30, 2019	$ (239,782)	$ 249	$ 243,358	$ 45,939	$ (60)	$ (529,268)
Treasury stock, shares, ending (in shares) at Sep. 30, 2019	8,147,503					8,148,000

Stock-Based Compensation (Options Value Assumptions) (Details) - Stock Options	9 Months Ended
	Sep. 30, 2019 $ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate (percent)	2.50%
Weighted average historical volatility (percent)	30.30%
Dividend yield (percent)	2.80%
Expected years until exercise (years)	4 years 8 months 12 days
Weighted average fair value of options granted (USD per share)	$ 21.93

Basis of Presentation	9 Months Ended
Basis of Presentation	Sep. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The Company’s fiscal quarters end on the Sunday closest to the last day of each calendar quarter. For convenience, the fiscal quarters of each year are referred to as ending on March 31, June 30, September 30 and December 31. The first fiscal quarter of 2019 began on December 31, 2018 and ended on March 31, 2019; the second and third fiscal quarters of 2019 ended on June 30, 2019 and September 29, 2019, respectively. The first fiscal quarter of 2018 began on January 1, 2018 and ended on April 1, 2018; the second and third fiscal quarters of 2018 ended on July 1, 2018 and September 30, 2018, respectively. The accompanying consolidated financial statements include the accounts of the Company and its subsidiaries that are consolidated in accordance with U.S. GAAP. All intercompany balances and transactions have been eliminated. The preparation of financial statements in conformity with U.S. GAAP requires the Company’s management to make assumptions and estimates 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 goodwill, other intangible assets and tangible assets; 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.

Income Taxes - Narrative (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
Income Taxes - Narrative (Details) - USD ($) $ in Millions	Jun. 30, 2019	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Effective income tax rate (percent)		24.50%	32.10%
Gross unrecognized tax benefit		$ 5.6		$ 5.2
Expected change in unrecognized tax benefits		1.3
Accrued interest on income taxes		1.6		1.1
Accrued penalties on income taxes, less than		$ 0.1		$ 0.1
Internal Revenue Service (IRS)
Income Tax Examination [Line Items]
Proceeds from income tax refunds	$ 13.3
Interest income	$ 0.9

Stock-Based Compensation

9 Months Ended

Sep. 30, 2019

Share-based Payment Arrangement [Abstract]

Stock-Based Compensation

The following table summarizes the components of stock-based compensation expense included in general and administrative expenses in the Consolidated Statements of Comprehensive Income:



	Three months ended September 30,						Nine months ended September 30,
	2019			2018			2019			2018
	(In millions)
Total stock-based compensation expense:
Equity classified awards expense	$	2.4		$	2.4		$	8.3		$	8.1
Liability classified awards expense	0.2			1.4			2.6			2.3
Total pre-tax stock-based compensation expense	2.6			3.8			10.9			10.4
Book income tax benefit	(0.6		)	(1.0		)	(2.8		)	(2.7		)
Total stock-based compensation expense, net of tax	$	2.0		$	2.8		$	8.1		$	7.7

As of September 30, 2019, total unrecognized compensation expense of $18.3 million related to restricted stock and restricted stock units and $3.8 million related to stock options are expected to be recognized over a weighted average period of 1.5 years for restricted stock and restricted stock units and 1.5 years for stock options.

Fair Value Assumptions

The Company granted 132,832 stock options during the nine months ended September 30, 2019 for which the fair value was estimated using a Black-Scholes option pricing model. The following summarizes the assumptions used in the Black-Scholes model:



Risk-free interest rate	2.5	%
Weighted average historical volatility	30.3	%
Dividend yield	2.8	%
Expected years until exercise	4.7
Weighted average fair value of options granted	$21.93

Equity Classified Awards - Stock Options

Stock option balances at September 30, 2019, and activity for the nine months ended September 30, 2019 were as follows:



	Shares		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (in Years)	Aggregate Intrinsic Value (in Millions)
Outstanding at December 31, 2018	1,439,708		$	63.21
Granted	132,832		98.97
Exercised	(188,489	)	57.43
Expired	(37,005	)	93.06
Forfeited	(85,526	)	70.70
Outstanding at September 30, 2019	1,261,520		66.45		6.1	$	18.0
Vested at September 30, 2019 and Expected to Vest	1,169,198		67.19		6.0	$	16.0
Exercisable at September 30, 2019	578,235		$	77.25	3.7	$	4.0

The aggregate intrinsic value in the table above represents the total pre-tax intrinsic value (the difference between the closing stock price of the Company’s common stock on the last trading day of the third quarter of 2019 and the exercise price, multiplied by the number of in-the-money options) that would have been received by the option holders had all option holders exercised their options on September 30, 2019. The aggregate intrinsic value will change based on the fair market value of the Company’s common stock and the number of in-the-money options.

Equity Classified Awards - Restricted Stock and Restricted Stock Units

Outstanding balances as of September 30, 2019, and activity related to restricted stock and restricted stock units for the nine months ended September 30, 2019 were as follows:



	Restricted Stock		Weighted Average Grant Date Fair Value		Stock-Settled Restricted Stock Units		Weighted Average Grant Date Fair Value
Outstanding at December 31, 2018	267,242		$	63.35	374,529		$	31.05
Granted	73,591		97.27		19,994		97.22
Released	(71,855	)	76.63		(12,293	)	90.34
Forfeited	(34,149	)	65.73		(27,802	)	34.53
Outstanding at September 30, 2019	234,829		$	70.27	354,428		$	30.86

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		Weighted Average Grant Date Fair Value
Outstanding at December 31, 2018	53,766		$	79.07
Granted	20,734		75.34
Released	(317	)	82.16
Forfeited	(8,799	)	90.51
Outstanding at September 30, 2019	65,384		$	76.32

For the three months ended September 30, 2019 and 2018, a credit of $0.2 million and an expense of $0.3 million, respectively, was included as stock-based compensation expense related to cash-settled restricted stock units. For the nine months ended September 30, 2019, and 2018, $1.0 million and $0.7 million, respectively, was included as stock-based compensation expense related to cash-settled restricted stock units.

Liability Classified Awards - Long-Term Incentive Awards

The Company has granted cash long-term incentive awards (“LTIP awards”) to certain employees. Annual LTIP awards vest over a three-year period and are determined using multipliers from 0% to 200% of the target award based on (i) the total stockholder return of Dine Brands Global common stock compared to the total stockholder returns of a peer group of companies and (ii) the percentage increase in the Company's adjusted earnings per share (as defined in the applicable award agreement). The awards are considered stock-based compensation and are classified as liabilities measured at fair value as of the respective period end. For the three months ended September 30, 2019 and 2018, $0.5 million and $1.1 million, respectively, were included in total stock-based compensation expense related to LTIP awards. For the nine months ended September 30, 2019 and 2018, $1.7 million and $1.6 million, respectively, were included in total stock-based compensation expense related to LTIP awards. At September 30, 2019 and December 31, 2018, liabilities of $2.9 million and $2.4 million, respectively, related to LTIP awards were included as part of accrued employee compensation and benefits in the Consolidated Balance Sheets.

Stock-Based Compensation (Stock Option Activity) (Details) - Stock Options $ / shares in Units, $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2019 USD ($) $ / shares shares	Sep. 30, 2019 USD ($) $ / shares shares
Shares
Options, outstanding, beginning of period (in shares) \| shares		1,439,708
Options, granted (in shares) \| shares		132,832
Options, exercised (in shares) \| shares		(188,489)
Options, expired (in shares) \| shares	(37,005)
Options, forfeited (in shares) \| shares		(85,526)
Options, outstanding, end of period (in shares) \| shares	1,261,520	1,261,520
Options, vested and expected to vest (in shares) \| shares	1,169,198	1,169,198
Options, exercisable (in shares) \| shares	578,235	578,235
Weighted Average Exercise Price
Weighted average exercise price, beginning of period (per share) \| $ / shares		$ 63.21
Weighted average exercise price, granted (per share) \| $ / shares		98.97
Weighted average exercise price, exercised (per share) \| $ / shares		57.43
Weighted average exercise price, expired (per share) \| $ / shares	$ 93.06
Weighted average exercise price, forfeited (per share) \| $ / shares		70.70
Weighted average exercise price, end of period (per share) \| $ / shares	66.45	66.45
Weighted average exercise price, vested and expected to vest (per share) \| $ / shares	67.19	67.19
Weighted average exercise price, exercisable (per share) \| $ / shares	$ 77.25	$ 77.25
Weighted average remaining contractual term (in years)		6 years 1 month 6 days
Weighted average remaining contractual term, vested and expected to vest (in years)		6 years
Weighted average remaining contractual term, exercisable (in years)		3 years 8 months 12 days
Options, outstanding, intrinsic value \| $	$ 18.0	$ 18.0
Options, vested and expected to vest, intrinsic value \| $	16.0	16.0
Options, vested and expected to vest, exercisable \| $	$ 4.0	$ 4.0

Long-Term Debt (Tables)

9 Months Ended

Sep. 30, 2019

Debt Disclosure [Abstract]

Schedule of Debt

At September 30, 2019 and December 31, 2018, long-term debt consisted of the following:



	September 30, 2019			December 31, 2018
	(In millions)
Series 2019-1 4.194% Fixed Rate Senior Secured Notes, Class A-2-I	$	700.0		$	—
Series 2019-1 4.723% Fixed Rate Senior Secured Notes, Class A-2-II	600.0			—
Series 2014-1 4.277% Fixed Rate Senior Secured Notes, Class A-2	—			1,283.8
Series 2018-1 Variable Funding Senior Notes Class A-1, variable interest rate of 4.93% at December 31, 2018	—			25.0
Class A-2-I and A-2-II (2019) and Class A-2 (2018) Note debt issuance costs	(12.3		)	(9.7		)
Long-term debt, net of debt issuance costs	1,287.7			1,299.1
Current portion of long-term debt	—			(25.0		)
Long-term debt	$	1,287.7		$	1,274.1

Long-Term Debt - Narrative (Details) - USD ($)	1 Months Ended	3 Months Ended		9 Months Ended
Long-Term Debt - Narrative (Details) - USD ($)	Jun. 30, 2026	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Jun. 05, 2019	Dec. 31, 2018	Sep. 05, 2018
Debt Instrument [Line Items]
DSCR less than 1.20x - Rapid Amortization Event		120.00%		120.00%
Interest-only DSCR less than 1.20x - Manager Termination Event		120.00%		120.00%
Interest-only DSCR less than 1.10x - Default Event		110.00%		110.00%
Debt service coverage ratio		435000.00%		435000.00%
Debt issuance costs, gross		$ 12,900,000		$ 12,900,000
Amortization of debt issuance costs		500,000		600,000
Unamortized debt issuance costs		12,300,000		12,300,000			$ 9,700,000
Incurred cost				200,000
Loss on extinguishment of debt		$ 0	$ 0	$ 8,276,000	$ 0
Eurodollar \| Letter of Credit
Debt Instrument [Line Items]
Basis spread on variable rate				1.00%
Base Rate \| Letter of Credit
Debt Instrument [Line Items]
Basis spread on variable rate				1.15%
Federal Funds Rate \| Letter of Credit
Debt Instrument [Line Items]
Basis spread on variable rate				0.50%
Maximum
Debt Instrument [Line Items]
DSCR less than 1.75x - Cash Flow Sweeping Event		175.00%		175.00%
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%
Debt instrument, face amount						$ 700,000,000
Ratio of indebtedness to net capital		465000.00%		465000.00%
Make-whole premium		$ 38,000,000		$ 38,000,000
Series 2019-1 4.194% Fixed Rate Senior Secured Notes, Class A-2-I \| Forecast
Debt Instrument [Line Items]
Additional interest on fixed rate	5.00%
Debt instrument, term	10 years
Series 2019-1 4.194% Fixed Rate Senior Secured Notes, Class A-2-I \| Ten Year United States Treasury Bill Rate \| Forecast
Debt Instrument [Line Items]
Basis spread on variable rate	2.15%
Series 2019-1 4.194% Fixed Rate Senior Secured Notes, Class A-2-I \| Maximum
Debt Instrument [Line Items]
Ratio of indebtedness to net capital		525.00%		525.00%
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%
Debt instrument, face amount						$ 600,000,000
Make-whole premium		$ 67,000,000		$ 67,000,000
Series 2019-1 4.723% Fixed Rate Senior Secured Notes, Class A-2-II \| Ten Year United States Treasury Bill Rate \| Forecast
Debt Instrument [Line Items]
Basis spread on variable rate	2.64%
Series 2019-1 Variable Funding Senior Notes Class A-1, variable interest rate of ___% at June 30, 2019
Debt Instrument [Line Items]
Unamortized debt issuance costs		2,800,000		2,800,000
Series 2019-1 Variable Funding Senior Notes Class A-1, variable interest rate of ___% at June 30, 2019 \| Revolving Credit Facility
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity		$ 225,000,000		$ 225,000,000
Series 2019-1 Variable Funding Senior Notes Class A-1, variable interest rate of ___% at June 30, 2019 \| Letter of Credit
Debt Instrument [Line Items]
Basis spread on variable rate				2.15%
Series 2019-1 Variable Funding Senior Notes Class A-1, variable interest rate of ___% at June 30, 2019 \| Eurodollar \| Revolving Credit Facility
Debt Instrument [Line Items]
Basis spread on variable rate				2.15%
Series 2014-1 4.277% Fixed Rate Senior Secured Notes, Class A-2
Debt Instrument [Line Items]
Debt interest rate (percent)		4.277%		4.277%			4.277%
Repayments of debt				$ 1,280,000,000
Amortization of debt issuance costs				1,400,000
Loss on extinguishment of debt				8,300,000
Series 2018-1 Variable Funding Senior Notes Class A-1, variable interest rate of 4.93% at December 31, 2018
Debt Instrument [Line Items]
Debt interest rate (percent)							4.93%
Line of credit facility, current borrowing capacity		$ 222,200,000		222,200,000
Repayments of notes payable				25,000,000.0
Line of credit facility, amount outstanding		$ 25,000,000.0		$ 25,000,000.0
Debt, weighted average interest rate		4.88%		4.88%
Amortization of debt issuance costs		$ 200,000		$ 700,000
Unamortized debt issuance costs		2,800,000		2,800,000
Series 2018-1 Variable Funding Senior Notes Class A-1, variable interest rate of 4.93% at December 31, 2018 \| Letter of Credit
Debt Instrument [Line Items]
Debt instrument, collateral amount		$ 2,800,000		$ 2,800,000
2018-1 Class A-1 Notes \| Revolving Credit Facility
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity								$ 225,000,000
Unamortized debt issuance expense			900,000		900,000
Costs incurred, debt					1,600,000
Debt issuance costs, net			2,500,000		$ 2,500,000
2018-1 Class A-1 Notes \| Revolving Credit Facility \| Interest Expense
Debt Instrument [Line Items]
Costs incurred, debt			$ 1,600,000

Lease Disclosures (Tables)

9 Months Ended

Sep. 30, 2019

Leases [Abstract]

Schedule of Lease Cost

The Company's lease cost for the three and nine months ended September 30, 2019 was as follows:



	Three months ended September 30, 2019			Nine months ended September 30, 2019
Finance lease cost:	(In millions)
Amortization of right-of-use assets	$	1.3		4.0
Interest on lease liabilities	1.9			5.9
Operating lease cost	26.5			79.8
Variable lease cost	0.6			1.9
Short-term lease cost	0.0			0.0
Sublease income	(26.5		)	(81.9	)
Lease cost	$	3.8		9.7

Schedule of Operating Lease Liability Future Maturity

Future minimum lease payments under noncancelable leases as lessee as of September 30, 2019 were as follows:



	Finance Leases			Operating Leases
	(In millions)
2019 (remaining three months)	$	5.1		$	23.2
2020	20.1			95.9
2021	16.5			79.1
2022	14.7			71.3
2023	11.6			58.7
Thereafter	65.0			220.8
Total minimum lease payments	133.0			549.0
Less: interest/imputed interest	(39.2		)	(112.0		)
Total obligations	93.8			437.0
Less: current portion	(12.5		)	(67.8		)
Long-term lease obligations	$	81.3		$	369.2

Schedule of Finance Lease Liability Future Maturity

Future minimum lease payments under noncancelable leases as lessee as of September 30, 2019 were as follows:



	Finance Leases			Operating Leases
	(In millions)
2019 (remaining three months)	$	5.1		$	23.2
2020	20.1			95.9
2021	16.5			79.1
2022	14.7			71.3
2023	11.6			58.7
Thereafter	65.0			220.8
Total minimum lease payments	133.0			549.0
Less: interest/imputed interest	(39.2		)	(112.0		)
Total obligations	93.8			437.0
Less: current portion	(12.5		)	(67.8		)
Long-term lease obligations	$	81.3		$	369.2

Schedule of Lease Payments

During the three and nine months ended September 30, 2019, the Company made the following cash payments for leases:



	Three months ended September 30, 2019		Nine months ended September 30, 2019
	(In millions)
Principal payments on finance lease obligations	$	3.4	$	10.3
Interest payments on finance lease obligations	$	1.9	$	5.9
Payments on operating leases	$	22.9	$	68.7
Variable lease payments	$	0.6	$	2.1

Schedule of Operating Lease Income

The Company's income from operating leases for the three and nine months ended September 30, 2019 was as follows:



	Three months ended September 30, 2019		Nine months ended September 30, 2019
	(In millions)
Minimum lease payments	$	25.0	$	76.2
Variable lease income	2.5		8.5
Total operating lease income	$	27.5	$	84.7

Schedule of Future Minimum Payments as a Lessor Under Operating Leases

Future minimum payments to be received as lessor under noncancelable operating leases as of September 30, 2019 were as follows:



	(In millions)
2019 (remaining three months)	$	26.5
2020	107.3
2021	101.4
2022	98.4
2023	94.1
Thereafter	293.7
Total minimum rents receivable	721.4

Schedule of Direct Finance Lease Income

The Company's income from direct financing leases for the three and nine months ended September 30, 2019 was as follows:



	Three months ended September 30, 2019		Nine months ended September 30, 2019
	(In millions)
Interest income	$	1.2	$	3.9
Variable lease income	0.2		1.0
Total operating lease income	$	1.4	$	4.9

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

Future minimum payments to be received as lessor under noncancelable direct financing leases as of September 30, 2019 were as follows:



	(In millions)
2019 (remaining three months)	$	3.9
2020	14.7
2021	11.6
2022	8.2
2023	3.6
Thereafter	3.8
Total minimum rents receivable	45.8
Less: unearned income	(8.8		)
Total net investment in direct financing leases	37.0
Less: current portion	(11.1		)
Long-term investment in direct financing leases	$	25.9

Stock-Based Compensation (Components of Stock-Based Compensation Expense) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Share-based Payment Arrangement [Abstract]
Equity classified awards expense	$ 2.4	$ 2.4	$ 8.3	$ 8.1
Liability classified awards expense	0.2	1.4	2.6	2.3
Total pre-tax stock-based compensation expense	2.6	3.8	10.9	10.4
Book income tax benefit	(0.6)	(1.0)	(2.8)	(2.7)
Total stock-based compensation expense, net of tax	$ 2.0	$ 2.8	$ 8.1	$ 7.7

Stock-Based Compensation (Liability Classified Awards - Cash-settled Restricted Stock Units) (Details) - Cash-settled Restricted Stock Units	9 Months Ended
	Sep. 30, 2019 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward]
Restricted stock, beginning of period (in shares) \| shares	53,766
Restricted stock, granted (in shares) \| shares	20,734
Restricted stock, released (in shares) \| shares	(317)
Restricted stock, forfeited (in shares) \| shares	(8,799)
Restricted stock, end of period (in shares) \| shares	65,384
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Weighted average grant date fair value, beginning balance (per share) \| $ / shares	$ 79.07
Weighted average fair value of restricted stock units granted (USD per share) \| $ / shares	75.34
Weighted average fair value of restricted stock units released (in USD per share) \| $ / shares	82.16
Weighted average grant date fair value, forfeited (per share) \| $ / shares	90.51
Weighted average grant date fair value, ending balance (per share) \| $ / shares	$ 76.32

Segments - Narrative (Details)	9 Months Ended
Segments - Narrative (Details)	Sep. 30, 2019 Country Territory Restaurant segment
Franchisor Disclosure [Line Items]
Number of operating segments (segment) \| segment	5
Number of reportable segments (segment) \| segment	4
Applebee's
Franchisor Disclosure [Line Items]
Number of territories in which entity operates (territory) \| Territory	2
Number of countries in which entity operates (country) \| Country	13
IHOP
Franchisor Disclosure [Line Items]
Number of territories in which entity operates (territory) \| Territory	3
Number of countries in which entity operates (country) \| Country	12
Franchised Units \| Applebee's
Franchisor Disclosure [Line Items]
Number of restaurants (restaurant)	1,735
Franchised Units \| IHOP
Franchisor Disclosure [Line Items]
Number of restaurants (restaurant)	1,836
Entity Operated Units \| Applebee's
Franchisor Disclosure [Line Items]
Number of restaurants (restaurant)	69

Stockholders' Deficit - Dividends declared and paid per share (Details) - $ / shares			1 Months Ended	3 Months Ended					9 Months Ended
	Jul. 12, 2019	Apr. 05, 2019	Jan. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Equity [Abstract]
Dividends declared per common share (USD per share)				$ 0.69	$ 0.69	$ 0.69	$ 0.63	$ 0.63	$ 2.07	$ 1.89
Dividends paid per common share (USD per share)	$ 0.69	$ 0.69	$ 0.63	$ 0.69				$ 0.63	$ 2.01	$ 2.23

Fair Value Measurements

9 Months Ended

Sep. 30, 2019

Fair Value Disclosures [Abstract]

Fair Value Measurements

The Company does not have a material amount of financial assets or liabilities that are required under U.S. GAAP to be measured on a recurring basis at fair value. The Company is not a party to any material derivative financial instruments. The Company does not have a material amount of non-financial assets or non-financial liabilities that are required under U.S. GAAP to be measured at fair value on a recurring basis. The Company has not elected to use the fair value measurement option, as permitted under U.S. GAAP, for any assets or liabilities for which fair value measurement is not presently required.

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

The fair values of the Company's 2019 Class A-2 Notes at September 30, 2019 and the Company's 2014 Class A-2 Notes at December 31, 2018 were as follows:



	September 30, 2019		December 31, 2018
	(In millions)
Face Value of Notes	$	1,300.0	$	1,283.8
Fair Value of Notes	$	1,336.6	$	1,280.9

The fair values were determined based on Level 2 inputs, including information gathered from brokers who trade in the Company’s 2019 Class A-2 Notes and traded in Company's 2014 Class A-2 Notes, as well as information on notes that are similar to those of the Company.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Stockholders' Deficit - Share Repurchases (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Class of Stock [Line Items]
Stock repurchased during period, value	$ 42,717	$ 7,877	$ 90,073	$ 27,880
2019 Repurchase Program
Class of Stock [Line Items]
Stock repurchased during period (in shares)	523,898		956,847
Stock repurchased during period, value	$ 42,700		$ 81,700
Cumulative amount of shares repurchased (in shares)	956,847		956,847
Cumulative payments for repurchase of common stock	$ 81,700		$ 81,700
Remaining dollar value of shares that may be repurchased	$ 118,300		$ 118,300
October 2015 Share Repurchase Program
Class of Stock [Line Items]
Stock repurchased during period (in shares)	0		110,499
Stock repurchased during period, value	$ 0		$ 8,400
Cumulative amount of shares repurchased (in shares)	1,589,995		1,589,995
Cumulative payments for repurchase of common stock	$ 126,200		$ 126,200

Stockholders' Deficit

9 Months Ended

Sep. 30, 2019

Equity [Abstract]

Stockholders' Deficit

Dividends

During the nine months ended September 30, 2019, the Company paid dividends on common stock of $35.3 million, representing a cash dividend of $0.63 per share declared in the fourth quarter of 2018, paid in January 2019, a cash dividend of $0.69 per share declared in the first quarter of 2019, paid in April 2019 and a cash dividend of $0.69 per share declared in the second quarter of 2019, paid in July 2019. On August 1, 2019, the Company's Board of Directors declared a third quarter 2019 cash dividend of $0.69 per share of common stock. This dividend was paid on October 4, 2019 to stockholders of record at the close of business on September 20, 2019. The Company reported dividends payable of $11.8 million at September 30, 2019.

Dividends declared and paid per share for the three and nine months ended September 30, 2019 and 2018 were as follows:



	Three months ended September 30,				Nine months ended September 30,
	2019		2018		2019		2018
Dividends declared per common share	$	0.69	$	0.63	$	2.07	$	1.89
Dividends paid per common share	$	0.69	$	0.63	$	2.01	$	2.23

Stock Repurchase Program

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.

In October 2015, the Company's Board of Directors approved a stock repurchase program authorizing the Company to repurchase up to $150 million of its common stock (the “2015 Repurchase Program”) on an opportunistic basis from time to time in open market transactions and in privately negotiated transactions based on business, market, applicable legal requirements and other considerations. The 2015 Repurchase Program, as approved by the Board of Directors, did not require the repurchase of a specific number of shares and could be terminated at any time. In connection with the approval of the 2019 Repurchase Program, the Board of Directors terminated the 2015 Repurchase Program.

A summary of shares repurchased under the 2019 Repurchase Program and the 2015 Repurchase Program, during the three and nine months ended September 30, 2019 and cumulatively, is as follows:



	Shares	Cost of shares
		(In millions)
2019 Repurchase Program:
Repurchased during the three months ended September 30, 2019	523,898	$	42.7
Repurchased during the nine months ended September 30, 2019	956,847	$	81.7
Cumulative (life-of-program) repurchases	956,847	$	81.7
Remaining dollar value of shares that may be repurchased	n/a	$	118.3
2015 Repurchase Program:
Repurchased during the three months ended September 30, 2019	—	$	—
Repurchased during the nine months ended September 30, 2019	110,499	$	8.4
Cumulative (life-of-program) repurchases	1,589,995	$	126.2
Remaining dollar value of shares that may be repurchased	n/a	n/a

Treasury Stock

Repurchases 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 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 (“FIFO”) method. During the nine months ended September 30, 2019, the Company re-issued 260,474 shares of treasury stock at a total FIFO cost of $11.4 million.

Accounting Standards Adopted and Newly Issued Accounting Standards Not Yet Adopted (Policies)	9 Months Ended
	Sep. 30, 2019
Accounting Changes and Error Corrections [Abstract]
Fiscal Period	The Company’s fiscal quarters end on the Sunday closest to the last day of each calendar quarter. For convenience, the fiscal quarters of each year are referred to as ending on March 31, June 30, September 30 and December 31. The first fiscal quarter of 2019 began on December 31, 2018 and ended on March 31, 2019; the second and third fiscal quarters of 2019 ended on June 30, 2019 and September 29, 2019, respectively. The first fiscal quarter of 2018 began on January 1, 2018 and ended on April 1, 2018; the second and third fiscal quarters of 2018 ended on July 1, 2018 and September 30, 2018, respectively.
Accounting Standards Adopted in the Current Fiscal Year and Not Yet Adopted	Accounting Standards Adopted in the Current Fiscal Year In February 2016, the Financial Accounting Standards Board (“FASB”) issued guidance with respect to the accounting for leases, as codified in Accounting Standards Topic 842 (“ASC 842”). The guidance is intended to improve financial reporting of leasing transactions by requiring entities that lease assets to recognize assets and liabilities for the rights and obligations created by leases, as well as by requiring additional disclosures related to an entity's leasing activities. The Company adopted this change in accounting principle as of the first day of the first fiscal quarter of 2019 using the modified retrospective method. Accordingly, financial information for periods prior to the date of initial application has not been adjusted. The Company has elected the package of practical expedients for adoption that permitted the Company not to reassess its prior conclusions regarding lease identification, lease classification and initial direct costs. The Company also elected a short-term lease exception policy and an accounting policy to not separate non-lease components from lease components. The Company did not elect to use an allowable expedient that permitted the use of hindsight in performing evaluations of its leases. Upon adoption of ASC 842, the Company recognized operating lease obligations of $453.0 million, which represented the present value of the remaining minimum lease payments, discounted using the Company's incremental borrowing rate. The Company recognized operating lease right-of-use assets of $395.6 million. The Company recognized an adjustment to retained earnings upon adoption of $5.0 million, net of tax of $1.7 million, primarily related to an impairment resulting from an unfavorable differential between lease payments to be made and sublease rentals to be received on certain leases. The remaining difference of $50.7 million between the recognized operating lease obligation and the right-of-use assets related to the derecognition of certain assets and liabilities recorded in accordance with U.S. GAAP that had been applied prior to the adoption of ASC 842, primarily $43.3 million of accrued rent payments. Lease-related reserves for lease incentives, closed restaurants and unfavorable leaseholds were also derecognized. The accounting for the Company's existing finance (capital) leases upon adoption of ASC 842 remained substantially unchanged. Adoption of ASC 842 had no significant impact on the Company's cash flows from operations or its results of operations and did not impact any covenant related to the Company's long-term debt. The Company implemented internal controls necessary to ensure compliance with the accounting and disclosure requirements of ASC 842. See Note 5 for additional disclosures related to the Company's leasing activities. Additional new accounting guidance became effective for the Company as of the beginning of fiscal 2019 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 In June 2016, the FASB issued new guidance on the measurement of credit losses on financial instruments. The new guidance will replace the incurred loss methodology of recognizing credit losses on financial instruments that is currently required with a methodology that estimates the expected credit loss on financial instruments and reflects the net amount expected to be collected on the financial instrument. Application of the new guidance may result in the earlier recognition of credit losses as the new methodology will require entities to consider forward-looking information in addition to historical and current information used in assessing incurred losses. The Company will be required to adopt the new guidance on a modified retrospective basis beginning with its first fiscal quarter of 2020. The Company is currently in the process of developing the methodology and key assumptions it will use in estimating expected credit losses but has not yet quantified the impact of the new guidance on its consolidated financial statements and related disclosures. In August 2018, the FASB issued guidance designed to improve the effectiveness of disclosures by removing, modifying and adding disclosures related to fair value measurements. The Company will be required to adopt the new guidance beginning with its first fiscal quarter of 2020; early adoption in any interim period after issuance of the new guidance is permitted. The Company is currently assessing the impact this guidance will have on its consolidated financial statements. In August 2018, the FASB issued new guidance on the accounting for implementation costs incurred in a cloud computing arrangement that is a service contract. The guidance aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with existing guidance for capitalizing implementation cost incurred to develop or obtain internal-use software. The guidance also provides presentation and disclosure requirements for such capitalized costs. The Company will be required to adopt the new guidance beginning with its first fiscal quarter of 2020; early adoption in any interim period after issuance of the new guidance is permitted. The Company is currently assessing the impact this guidance will have on its consolidated financial statements. 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.

Income Taxes	9 Months Ended
Income Taxes	Sep. 30, 2019
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company's effective tax rate was 24.5% for the nine months ended September 30, 2019 as compared to 32.1% for the nine months ended September 30, 2018. The effective tax rate of 24.5% for the nine months ended September 30, 2019 was lower than the rate of the prior comparable period primarily due to Internal Revenue Service (“IRS”) audit adjustments for tax years 2011 to 2013 recognized in the prior period. The total gross unrecognized tax benefit as of September 30, 2019 and December 31, 2018 was $5.6 million and $5.2 million, respectively, excluding interest, penalties and related tax benefits. The Company estimates the unrecognized tax benefit as of September 30, 2019 may decrease over the upcoming 12 months by an amount up to $1.3 million related to settlements with taxing authorities and the lapse of statutes of limitations. For the remaining liability, due to the uncertainties related to these tax matters, the Company is unable to make a reasonably reliable estimate as to when cash settlement with a taxing authority will occur. As of September 30, 2019, accrued interest was $1.6 million and accrued penalties were less than $0.1 million, excluding any related income tax benefits. As of December 31, 2018, accrued interest was $1.1 million and accrued penalties were less than $0.1 million, excluding any related income tax benefits. The Company recognizes interest accrued related to unrecognized tax benefits and penalties as a component of its income tax provision recognized in its Consolidated Statements of Comprehensive Income. 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. The IRS examination of tax years 2011 to 2013 concluded during the second quarter of 2019, and the Company received a refund of $13.3 million, inclusive of interest income of $0.9 million. With few exceptions, the Company is no longer subject to federal tax examinations by tax authorities for years before 2014 and state or non-United States tax examinations by tax authorities for years before 2011. The Company believes that adequate reserves have been provided related to all matters contained in the tax periods open to examination.

Stock-Based Compensation (Restricted Stock) (Details)	9 Months Ended
Stock-Based Compensation (Restricted Stock) (Details)	Sep. 30, 2019 $ / shares shares
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward]
Restricted stock, beginning of period (in shares) \| shares	267,242
Restricted stock, granted (in shares) \| shares	73,591
Restricted stock, released (in shares) \| shares	(71,855)
Restricted stock, forfeited (in shares) \| shares	(34,149)
Restricted stock, end of period (in shares) \| shares	234,829
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Weighted average grant date fair value, beginning balance (per share) \| $ / shares	$ 63.35
Weighted average grant date fair value, granted (per share) \| $ / shares	97.27
Weighted average grant date fair value, released (per share) \| $ / shares	76.63
Weighted average grant date fair value, forfeited (per share) \| $ / shares	65.73
Weighted average grant date fair value, ending balance (per share) \| $ / shares	$ 70.27
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward]
Restricted stock, beginning of period (in shares) \| shares	374,529
Restricted stock, granted (in shares) \| shares	19,994
Restricted stock, released (in shares) \| shares	(12,293)
Restricted stock, forfeited (in shares) \| shares	(27,802)
Restricted stock, end of period (in shares) \| shares	354,428
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Weighted average grant date fair value, beginning balance (per share) \| $ / shares	$ 31.05
Weighted average grant date fair value, granted (per share) \| $ / shares	97.22
Weighted average grant date fair value, released (per share) \| $ / shares	90.34
Weighted average grant date fair value, forfeited (per share) \| $ / shares	34.53
Weighted average grant date fair value, ending balance (per share) \| $ / shares	$ 30.86

Lease Disclosures Components of Lease Income (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2019
Leases [Abstract]
Minimum lease payments	$ 25.0	$ 76.2
Variable lease income	2.5	8.5
Total operating lease income	$ 27.5	$ 84.7

Revenue Disclosures - Deferred revenue expected to be recognized (Details) $ in Thousands	Sep. 30, 2019 USD ($)
Revenue from Contract with Customer [Abstract]
Performance obligations expected to be satisfied	$ 68,325
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-10-01
Revenue from Contract with Customer [Abstract]
Performance obligations expected to be satisfied	$ 2,250
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations expected to be satisfied, expected timing	3 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-01
Revenue from Contract with Customer [Abstract]
Performance obligations expected to be satisfied	$ 10,197
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]: 2021-01-01
Revenue from Contract with Customer [Abstract]
Performance obligations expected to be satisfied	$ 7,832
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]: 2022-01-01
Revenue from Contract with Customer [Abstract]
Performance obligations expected to be satisfied	$ 7,310
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]: 2023-01-01
Revenue from Contract with Customer [Abstract]
Performance obligations expected to be satisfied	$ 6,739
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	$ 6,050
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]: (nil)
Revenue from Contract with Customer [Abstract]
Performance obligations expected to be satisfied	$ 27,947
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations expected to be satisfied, expected timing

Lease Disclosures Schedule of income from direct financing leases (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2019
Leases [Abstract]
Interest income	$ 1.2	$ 3.9
Variable lease income	0.2	1.0
Total operating lease income	$ 1.4	$ 4.9

Cover Page - shares	9 Months Ended
Cover Page - shares	Sep. 30, 2019	Oct. 25, 2019
Cover page.
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2019
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	91203-1903
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 Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Small Reporting Company	false
Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		16,791,860
Entity Central Index Key	0000049754
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3
Amendment Flag	false

Revenue Disclosures - Disaggregation of Franchise Revenue by Major Type (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Franchise revenues
Disaggregation of Revenue [Line Items]
Total franchise revenue	$ 156,200	$ 162,078	$ 487,794	$ 469,332
Royalties
Disaggregation of Revenue [Line Items]
Total franchise revenue	72,506	75,910	226,888	229,162
Advertising fees
Disaggregation of Revenue [Line Items]
Total franchise revenue	67,514	71,016	211,882	193,557
Pancake and waffle dry mix sales and other
Disaggregation of Revenue [Line Items]
Total franchise revenue	13,201	12,541	40,158	37,809
Franchise and development fees
Disaggregation of Revenue [Line Items]
Total franchise revenue	$ 2,979	$ 2,611	$ 8,866	$ 8,804

Restricted Cash	9 Months Ended
Restricted Cash	Sep. 30, 2019
Cash and Cash Equivalents [Abstract]
Restricted Cash	Restricted Cash Current restricted cash of $36.7 million at September 30, 2019 primarily consisted of $33.0 million of funds required to be held in trust in connection with the Company's securitized debt and $3.5 million of funds from Applebee's franchisees pursuant to franchise agreements, usage of which was restricted to advertising activities. Current restricted cash of $48.5 million at December 31, 2018 primarily consisted of $42.3 million of funds required to be held in trust in connection with the Company's securitized debt and $6.2 million of funds from Applebee's franchisees pursuant to franchise agreements, usage of which was restricted to advertising activities. Non-current restricted cash of $15.7 million at September 30, 2019 and $14.7 million at December 31, 2018 represents interest reserves required to be set aside for the duration of the Company's securitized debt.

Consolidated Balance Sheets (Parentheticals) - $ / shares	Sep. 30, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
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)	24,934,363	24,984,898
Common stock, shares outstanding (in shares)	16,786,860	17,644,267
Treasury stock, shares (in shares)	8,147,503	7,340,631

General	9 Months Ended
General	Sep. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
General	General The accompanying unaudited consolidated financial statements of Dine Brands Global, Inc. (the “Company” or “Dine Brands Global”) have been prepared in accordance with United States generally accepted accounting principles (“U.S. GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. The operating results for the nine months ended September 30, 2019 are not necessarily indicative of the results that may be expected for the twelve months ending December 31, 2019. The consolidated balance sheet at December 31, 2018 has been derived from the audited consolidated financial statements at that date but does not include all of information and footnotes required by U.S. GAAP for complete financial statements. These consolidated financial statements should be read in conjunction with the consolidated financial statements and footnotes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018.

Lease Disclosures Payment for Leases (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2019
Leases [Abstract]
Principal payments on finance lease obligations	$ 3.4	$ 10.3
Interest payments on finance lease obligations	1.9	5.9
Payments on operating leases	22.9	68.7
Variable lease payments	$ 0.6	$ 2.1

Stockholders' Deficit (Tables)

9 Months Ended

Sep. 30, 2019

Equity [Abstract]

Dividends Declared

Dividends declared and paid per share for the three and nine months ended September 30, 2019 and 2018 were as follows:



	Three months ended September 30,				Nine months ended September 30,
	2019		2018		2019		2018
Dividends declared per common share	$	0.69	$	0.63	$	2.07	$	1.89
Dividends paid per common share	$	0.69	$	0.63	$	2.01	$	2.23

Class of Treasury Stock

A summary of shares repurchased under the 2019 Repurchase Program and the 2015 Repurchase Program, during the three and nine months ended September 30, 2019 and cumulatively, is as follows:



	Shares	Cost of shares
		(In millions)
2019 Repurchase Program:
Repurchased during the three months ended September 30, 2019	523,898	$	42.7
Repurchased during the nine months ended September 30, 2019	956,847	$	81.7
Cumulative (life-of-program) repurchases	956,847	$	81.7
Remaining dollar value of shares that may be repurchased	n/a	$	118.3
2015 Repurchase Program:
Repurchased during the three months ended September 30, 2019	—	$	—
Repurchased during the nine months ended September 30, 2019	110,499	$	8.4
Cumulative (life-of-program) repurchases	1,589,995	$	126.2
Remaining dollar value of shares that may be repurchased	n/a	n/a

Revenue Disclosures - (Details) - Receivables from Franchise Revenue Transactions - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]
Billed and unbilled receivables	$ 59.5	$ 62.6
Billed and unbilled receivables, accumulated allowance for credit loss	$ 1.0	$ 4.6

Net Income per Share

9 Months Ended

Sep. 30, 2019

Earnings Per Share [Abstract]

Net Income per Share

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



	Three months ended September 30,						Nine months ended September 30,
	2019			2018			2019			2018
	(In thousands, except per share data)
Numerator for basic and diluted income per common share:
Net income	$	23,917		$	23,587		$	76,950		$	53,373
Less: Net income allocated to unvested participating restricted stock	(795		)	(799		)	(2,621		)	(1,793		)
Net income available to common stockholders - basic	23,122			22,788			74,329			51,580
Effect of unvested participating restricted stock in two-class calculation	6			7			28			8
Net income available to common stockholders - diluted	$	23,128		$	22,795		$	74,357		$	51,588
Denominator:
Weighted average outstanding shares of common stock - basic	16,762			17,439			17,095			17,562
Dilutive effect of stock options	293			299			337			235
Weighted average outstanding shares of common stock - diluted	17,055			17,738			17,432			17,797
Net income per common share:
Basic	$	1.38		$	1.31		$	4.35		$	2.94
Diluted	$	1.36		$	1.29		$	4.27		$	2.90

Stock-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2019

Share-based Payment Arrangement [Abstract]

Components of the Company’s stock-based compensation expense

The following table summarizes the components of stock-based compensation expense included in general and administrative expenses in the Consolidated Statements of Comprehensive Income:



	Three months ended September 30,						Nine months ended September 30,
	2019			2018			2019			2018
	(In millions)
Total stock-based compensation expense:
Equity classified awards expense	$	2.4		$	2.4		$	8.3		$	8.1
Liability classified awards expense	0.2			1.4			2.6			2.3
Total pre-tax stock-based compensation expense	2.6			3.8			10.9			10.4
Book income tax benefit	(0.6		)	(1.0		)	(2.8		)	(2.7		)
Total stock-based compensation expense, net of tax	$	2.0		$	2.8		$	8.1		$	7.7

Schedule of stock option valuation assumptions

The following summarizes the assumptions used in the Black-Scholes model:



Risk-free interest rate	2.5	%
Weighted average historical volatility	30.3	%
Dividend yield	2.8	%
Expected years until exercise	4.7
Weighted average fair value of options granted	$21.93

Schedule of stock option activity

Stock option balances at September 30, 2019, and activity for the nine months ended September 30, 2019 were as follows:



	Shares		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (in Years)	Aggregate Intrinsic Value (in Millions)
Outstanding at December 31, 2018	1,439,708		$	63.21
Granted	132,832		98.97
Exercised	(188,489	)	57.43
Expired	(37,005	)	93.06
Forfeited	(85,526	)	70.70
Outstanding at September 30, 2019	1,261,520		66.45		6.1	$	18.0
Vested at September 30, 2019 and Expected to Vest	1,169,198		67.19		6.0	$	16.0
Exercisable at September 30, 2019	578,235		$	77.25	3.7	$	4.0

Schedule of restricted stock unit activity

Outstanding balances as of September 30, 2019, and activity related to restricted stock and restricted stock units for the nine months ended September 30, 2019 were as follows:



	Restricted Stock		Weighted Average Grant Date Fair Value		Stock-Settled Restricted Stock Units		Weighted Average Grant Date Fair Value
Outstanding at December 31, 2018	267,242		$	63.35	374,529		$	31.05
Granted	73,591		97.27		19,994		97.22
Released	(71,855	)	76.63		(12,293	)	90.34
Forfeited	(34,149	)	65.73		(27,802	)	34.53
Outstanding at September 30, 2019	234,829		$	70.27	354,428		$	30.86

Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block]

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		Weighted Average Grant Date Fair Value
Outstanding at December 31, 2018	53,766		$	79.07
Granted	20,734		75.34
Released	(317	)	82.16
Forfeited	(8,799	)	90.51
Outstanding at September 30, 2019	65,384		$	76.32

Segments

9 Months Ended

Sep. 30, 2019

Segment Reporting [Abstract]

Segments

The Company identifies its reporting segments based on the organizational units used by management to monitor performance and make operating decisions. The Company currently has five operating segments: Applebee's franchise operations, Applebee's company-operated restaurant operations, IHOP franchise operations, rental operations and financing operations. The Company has four reportable segments: franchise operations, (an aggregation of Applebee's and IHOP franchise operations), company-operated restaurant operations, rental operations and financing 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.

As of September 30, 2019, the franchise operations segment consisted of (i) 1,735 restaurants operated by Applebee’s franchisees in the United States, two U.S. territories and 13 countries outside the United States and (ii) 1,836 restaurants operated by IHOP franchisees and area licensees in the United States, three U.S. territories and 12 countries outside the United States. Franchise operations revenue consists primarily of franchise royalty revenues, franchise advertising revenue, sales of proprietary products to franchisees (primarily pancake and waffle dry mixes for the IHOP restaurants), and franchise fees. Franchise operations expenses include advertising expenses, the cost of IHOP proprietary products, bad debt expense, franchisor contributions to marketing funds, pre-opening training expenses and other franchise-related costs.

Company restaurant sales are retail sales at 69 Applebee's company-operated restaurants. Company restaurant expenses are operating expenses at company-operated restaurants and include food, labor, utilities, rent and other restaurant operating costs.

Rental operations revenue includes revenue from operating leases and interest income from direct financing leases. Rental operations expenses are costs of operating leases and interest expense from finance leases on which the Company is the lessee.

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

Information on segments is as follows:



	Three months ended September 30,						Nine months ended September 30,
	2019			2018			2019			2018
	(In millions)
Revenues from external customers:
Franchise operations	$	156.2		$	162.1		$	487.8		$	469.3
Rental operations	29.0			30.1			89.6			91.3
Company restaurants	30.5			—			100.0			—
Financing operations	1.7			1.9			5.3			6.1
Total	$	217.4		$	194.1		$	682.7		$	566.7

Interest expense:
Rental operations	$	1.8		$	2.3		$	6.1		$	7.0
Company restaurants	0.5			—			1.6			—
Corporate	15.2			15.4			45.2			46.1
Total	$	17.5		$	17.7		$	52.9		$	53.1

Depreciation and amortization:
Franchise operations	$	2.6		$	2.6		$	7.7		$	8.0
Rental operations	3.3			2.9			10.2			$	8.7
Company restaurants	1.6			—			4.7			—
Corporate	3.2			2.4			8.9			7.0
Total	$	10.7		$	7.9		$	31.5		$	23.7

Gross profit, by segment:
Franchise operations	$	81.6		$	83.7		$	254.0		$	226.2
Rental operations	6.4			7.1			21.4			22.9
Company restaurants	0.2			—			6.9			—
Financing operations	1.5			1.8			4.8			5.6
Total gross profit	89.7			92.6			287.1			254.7
Corporate and unallocated expenses, net	(58.0		)	(61.4		)	(185.2		)	(176.1		)
Income before income tax provision	$	31.7		$	31.2		$	101.9		$	78.6

Revenue Disclosures (Tables)

9 Months Ended

Sep. 30, 2019

Revenue from Contract with Customer [Abstract]

Schedule of Disaggregation of Revenue

The following table disaggregates franchise revenue by major type for the three and nine months ended September 30, 2019 and 2018:



	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2019		2018		2019		2018
	(In thousands)
Franchise Revenue:
Royalties	$	72,506	$	75,910	$	226,888	$	229,162
Advertising fees	67,514		71,016		211,882		193,557
Pancake and waffle dry mix sales and other	13,201		12,541		40,158		37,809
Franchise and development fees	2,979		2,611		8,866		8,804
Total franchise revenue	$	156,200	$	162,078	$	487,794	$	469,332

Schedule of Changes in Deferred Revenue

Changes in the Company's contract liability for deferred franchise and development fees during the nine months ended September 30, 2019 are as follows:



	Deferred Franchise Revenue (short- and long-term)
	(In thousands)
Balance at December 31, 2018	$	74,695
Recognized as revenue during the nine months ended September 30, 2019	(8,385		)
Fees deferred during the nine months ended September 30, 2019	2,015
Balance at September 30, 2019	$	68,325

Schedule of Remaining Performance Obligations

The balance of deferred revenue as of September 30, 2019 is expected to be recognized as follows:



	(In thousands)
Remainder of 2019	$	2,250
2020	10,197
2021	7,832
2022	7,310
2023	6,739
2024	6,050
Thereafter	27,947
Total	$	68,325

Consolidated Statements of Comprehensive Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Revenues:
Rental revenues	$ 28,970	$ 30,127	$ 89,559	$ 91,292
Total revenues	217,405	194,099	682,667	566,733
Cost of revenues:
Franchise expenses	74,577	78,341	233,787	243,157
Company restaurant expenses	30,361	0	93,131	0
Interest expense from finance leases	1,351	1,668	4,325	5,315
Other rental expenses	21,251	21,314	63,841	63,096
Rental expenses	22,602	22,982	68,166	68,411
Financing expenses	145	150	437	449
Total cost of revenues	127,685	101,473	395,521	312,017
Gross profit	89,720	92,626	287,146	254,716
General and administrative expenses	38,922	40,753	121,105	121,423
Interest expense, net	15,238	15,430	45,233	46,110
Amortization of intangible assets	2,925	2,505	8,774	7,513
Closure and impairment charges	157	217	640	119
Loss on extinguishment of debt	0	0	8,276	0
Debt refinancing costs	0	2,532	0	2,532
Loss (gain) on disposition of assets	746	(58)	1,187	(1,535)
Income before income tax provision	31,732	31,247	101,931	78,554
Income tax provision	(7,815)	(7,660)	(24,981)	(25,181)
Net income	23,917	23,587	76,950	53,373
Other comprehensive income (loss) net of tax:
Adjustment to unrealized loss on available-for-sale investments	0	0	0	50
Foreign currency translation adjustment	(1)	0	0	(6)
Total comprehensive income	23,916	23,587	76,950	53,417
Net income available to common stockholders:
Net income	23,917	23,587	76,950	53,373
Less: Net income allocated to unvested participating restricted stock	(795)	(799)	(2,621)	(1,793)
Net income available to common stockholders - basic	$ 23,122	$ 22,788	$ 74,329	$ 51,580
Net income available to common stockholders per share:
Basic (USD per share)	$ 1.38	$ 1.31	$ 4.35	$ 2.94
Diluted (USD per share)	$ 1.36	$ 1.29	$ 4.27	$ 2.90
Weighted average shares outstanding:
Basic (in shares)	16,762	17,439	17,095	17,562
Diluted (in shares)	17,055	17,738	17,432	17,797
Franchise revenues
Revenues:
Revenue from contract with customer, excluding assessed tax	$ 156,200	$ 162,078	$ 487,794	$ 469,332
Royalties, franchise fees and other
Revenues:
Revenue from contract with customer, excluding assessed tax	88,686	91,062	275,912	275,775
Advertising revenue
Revenues:
Revenue from contract with customer, excluding assessed tax	67,514	71,016	211,882	193,557
Company restaurant sales
Revenues:
Revenue from contract with customer, excluding assessed tax	30,548	0	100,034	0
Financing revenues
Revenues:
Revenue from contract with customer, excluding assessed tax	1,687	1,894	5,280	6,109
Advertising fees
Revenues:
Revenue from contract with customer, excluding assessed tax	67,514	71,016	211,882	193,557
Cost of revenues:
Franchise expenses	67,514	71,016	211,882	193,557
Other franchise expenses
Cost of revenues:
Franchise expenses	$ 7,063	$ 7,325	$ 21,905	$ 49,600

Net Income per Share - Computation of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Earnings Per Share [Abstract]
Net income	$ 23,917	$ 23,587	$ 76,950	$ 53,373
Less: Net income allocated to unvested participating restricted stock	(795)	(799)	(2,621)	(1,793)
Net income available to common stockholders - basic	23,122	22,788	74,329	51,580
Dilutive Securities, Effect on Basic Earnings Per Share, Options and Restrictive Stock Units	6	7	28	8
Net income available to common stockholders - diluted	$ 23,128	$ 22,795	$ 74,357	$ 51,588
Weighted average outstanding shares of common stock - basic (in shares)	16,762	17,439	17,095	17,562
Dilutive effect of stock options (in shares)	293	299	337	235
Weighted average outstanding shares of common stock - diluted (in shares)	17,055	17,738	17,432	17,797
Net income per common share - basic (USD per share)	$ 1.38	$ 1.31	$ 4.35	$ 2.94
Net income per common share - diluted (USD per share)	$ 1.36	$ 1.29	$ 4.27	$ 2.90

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Sep. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Litigation, Claims and Disputes The Company is subject to various lawsuits, 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 under U.S. GAAP to record an accrual for litigation loss contingencies that are both probable and reasonably estimable. Legal fees and expenses associated with the defense of all of the Company's litigation are expensed as such fees and expenses are incurred. Management regularly assesses the Company's insurance coverage, analyzes litigation information with the Company's attorneys and evaluates the Company's loss experience in connection with pending legal proceedings. While the Company does not presently believe that any of the legal proceedings to which it 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. Lease Guarantees In connection with the sale of Applebee’s restaurants to franchisees, the Company has, in certain cases, guaranteed or has potential continuing liability for lease payments totaling $264.6 million as of September 30, 2019. This amount represents the maximum potential liability for 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 2019 through 2048. Excluding unexercised option periods, the Company's potential liability for future payments under these leases is $41.2 million. In the event of default, the indemnity and default clauses in the sale or assignment agreements govern the Company's ability to pursue and recover damages incurred.

Commitments and Contingencies - Narrative (Details) - Applebee's - Property Lease Guarantee $ in Millions	Sep. 30, 2019 USD ($)
Loss Contingencies [Line Items]
Potential liability for guaranteed leases	$ 264.6
Potential liability for guaranteed leases excluding unexercised option periods	$ 41.2

Net Income per Share (Tables)

9 Months Ended

Sep. 30, 2019

Earnings Per Share [Abstract]

Computation of the Company’s basic and diluted net income per share

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



	Three months ended September 30,						Nine months ended September 30,
	2019			2018			2019			2018
	(In thousands, except per share data)
Numerator for basic and diluted income per common share:
Net income	$	23,917		$	23,587		$	76,950		$	53,373
Less: Net income allocated to unvested participating restricted stock	(795		)	(799		)	(2,621		)	(1,793		)
Net income available to common stockholders - basic	23,122			22,788			74,329			51,580
Effect of unvested participating restricted stock in two-class calculation	6			7			28			8
Net income available to common stockholders - diluted	$	23,128		$	22,795		$	74,357		$	51,588
Denominator:
Weighted average outstanding shares of common stock - basic	16,762			17,439			17,095			17,562
Dilutive effect of stock options	293			299			337			235
Weighted average outstanding shares of common stock - diluted	17,055			17,738			17,432			17,797
Net income per common share:
Basic	$	1.38		$	1.31		$	4.35		$	2.94
Diluted	$	1.36		$	1.29		$	4.27		$	2.90

Accounting Standards Adopted and Newly Issued Accounting Standards Not Yet Adopted	9 Months Ended
	Sep. 30, 2019
Accounting Changes and Error Corrections [Abstract]
Accounting Standards Adopted and Newly Issued Accounting Standards Not Yet Adopted	Accounting Standards Adopted and Newly Issued Accounting Standards Not Yet Adopted Accounting Standards Adopted in the Current Fiscal Year In February 2016, the Financial Accounting Standards Board (“FASB”) issued guidance with respect to the accounting for leases, as codified in Accounting Standards Topic 842 (“ASC 842”). The guidance is intended to improve financial reporting of leasing transactions by requiring entities that lease assets to recognize assets and liabilities for the rights and obligations created by leases, as well as by requiring additional disclosures related to an entity's leasing activities. The Company adopted this change in accounting principle as of the first day of the first fiscal quarter of 2019 using the modified retrospective method. Accordingly, financial information for periods prior to the date of initial application has not been adjusted. The Company has elected the package of practical expedients for adoption that permitted the Company not to reassess its prior conclusions regarding lease identification, lease classification and initial direct costs. The Company also elected a short-term lease exception policy and an accounting policy to not separate non-lease components from lease components. The Company did not elect to use an allowable expedient that permitted the use of hindsight in performing evaluations of its leases. Upon adoption of ASC 842, the Company recognized operating lease obligations of $453.0 million, which represented the present value of the remaining minimum lease payments, discounted using the Company's incremental borrowing rate. The Company recognized operating lease right-of-use assets of $395.6 million. The Company recognized an adjustment to retained earnings upon adoption of $5.0 million, net of tax of $1.7 million, primarily related to an impairment resulting from an unfavorable differential between lease payments to be made and sublease rentals to be received on certain leases. The remaining difference of $50.7 million between the recognized operating lease obligation and the right-of-use assets related to the derecognition of certain assets and liabilities recorded in accordance with U.S. GAAP that had been applied prior to the adoption of ASC 842, primarily $43.3 million of accrued rent payments. Lease-related reserves for lease incentives, closed restaurants and unfavorable leaseholds were also derecognized. The accounting for the Company's existing finance (capital) leases upon adoption of ASC 842 remained substantially unchanged. Adoption of ASC 842 had no significant impact on the Company's cash flows from operations or its results of operations and did not impact any covenant related to the Company's long-term debt. The Company implemented internal controls necessary to ensure compliance with the accounting and disclosure requirements of ASC 842. See Note 5 for additional disclosures related to the Company's leasing activities. Additional new accounting guidance became effective for the Company as of the beginning of fiscal 2019 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 In June 2016, the FASB issued new guidance on the measurement of credit losses on financial instruments. The new guidance will replace the incurred loss methodology of recognizing credit losses on financial instruments that is currently required with a methodology that estimates the expected credit loss on financial instruments and reflects the net amount expected to be collected on the financial instrument. Application of the new guidance may result in the earlier recognition of credit losses as the new methodology will require entities to consider forward-looking information in addition to historical and current information used in assessing incurred losses. The Company will be required to adopt the new guidance on a modified retrospective basis beginning with its first fiscal quarter of 2020. The Company is currently in the process of developing the methodology and key assumptions it will use in estimating expected credit losses but has not yet quantified the impact of the new guidance on its consolidated financial statements and related disclosures. In August 2018, the FASB issued guidance designed to improve the effectiveness of disclosures by removing, modifying and adding disclosures related to fair value measurements. The Company will be required to adopt the new guidance beginning with its first fiscal quarter of 2020; early adoption in any interim period after issuance of the new guidance is permitted. The Company is currently assessing the impact this guidance will have on its consolidated financial statements. In August 2018, the FASB issued new guidance on the accounting for implementation costs incurred in a cloud computing arrangement that is a service contract. The guidance aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with existing guidance for capitalizing implementation cost incurred to develop or obtain internal-use software. The guidance also provides presentation and disclosure requirements for such capitalized costs. The Company will be required to adopt the new guidance beginning with its first fiscal quarter of 2020; early adoption in any interim period after issuance of the new guidance is permitted. The Company is currently assessing the impact this guidance will have on its consolidated financial statements. 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.

Lease Disclosures

9 Months Ended

Sep. 30, 2019

Leases [Abstract]

Lease Disclosures

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 600 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 approximately 60 IHOP restaurants and one Applebee's restaurant. The Company leases from third parties the real property on which 69 Applebee's company-operated restaurants are located. The Company also leases office space for its principal corporate office in Glendale, California and restaurant support centers in Kansas City, Missouri and Raleigh, North Carolina. The Company does not have a significant amount of non-real estate leases.

The Company's existing leases/subleases related to IHOP restaurants generally provided 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. Approximately 200 of the Company's leases contain provisions requiring additional rent payments to the Company (as lessor) based on a percentage of restaurant sales. Approximately 250 of the Company's leases contain provisions requiring additional rent payments by the Company (as lessee) based on a percentage of restaurant sales.

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 as of the adoption date. 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 three and nine months ended September 30, 2019 was as follows:



	Three months ended September 30, 2019			Nine months ended September 30, 2019
Finance lease cost:	(In millions)
Amortization of right-of-use assets	$	1.3		4.0
Interest on lease liabilities	1.9			5.9
Operating lease cost	26.5			79.8
Variable lease cost	0.6			1.9
Short-term lease cost	0.0			0.0
Sublease income	(26.5		)	(81.9	)
Lease cost	$	3.8		9.7

Future minimum lease payments under noncancelable leases as lessee as of September 30, 2019 were as follows:



	Finance Leases			Operating Leases
	(In millions)
2019 (remaining three months)	$	5.1		$	23.2
2020	20.1			95.9
2021	16.5			79.1
2022	14.7			71.3
2023	11.6			58.7
Thereafter	65.0			220.8
Total minimum lease payments	133.0			549.0
Less: interest/imputed interest	(39.2		)	(112.0		)
Total obligations	93.8			437.0
Less: current portion	(12.5		)	(67.8		)
Long-term lease obligations	$	81.3		$	369.2

The weighted average remaining lease term as of September 30, 2019 was 8.6 years for finance leases and 7.8 years for operating leases. The weighted average discount rate as of September 30, 2019 was 10.4% for finance leases and 5.8% for operating leases.

During the three and nine months ended September 30, 2019, the Company made the following cash payments for leases:



	Three months ended September 30, 2019		Nine months ended September 30, 2019
	(In millions)
Principal payments on finance lease obligations	$	3.4	$	10.3
Interest payments on finance lease obligations	$	1.9	$	5.9
Payments on operating leases	$	22.9	$	68.7
Variable lease payments	$	0.6	$	2.1

The Company's income from operating leases for the three and nine months ended September 30, 2019 was as follows:



	Three months ended September 30, 2019		Nine months ended September 30, 2019
	(In millions)
Minimum lease payments	$	25.0	$	76.2
Variable lease income	2.5		8.5
Total operating lease income	$	27.5	$	84.7

Future minimum payments to be received as lessor under noncancelable operating leases as of September 30, 2019 were as follows:



	(In millions)
2019 (remaining three months)	$	26.5
2020	107.3
2021	101.4
2022	98.4
2023	94.1
Thereafter	293.7
Total minimum rents receivable	721.4

The Company's income from direct financing leases for the three and nine months ended September 30, 2019 was as follows:



	Three months ended September 30, 2019		Nine months ended September 30, 2019
	(In millions)
Interest income	$	1.2	$	3.9
Variable lease income	0.2		1.0
Total operating lease income	$	1.4	$	4.9

Future minimum payments to be received as lessor under noncancelable direct financing leases as of September 30, 2019 were as follows:



	(In millions)
2019 (remaining three months)	$	3.9
2020	14.7
2021	11.6
2022	8.2
2023	3.6
Thereafter	3.8
Total minimum rents receivable	45.8
Less: unearned income	(8.8		)
Total net investment in direct financing leases	37.0
Less: current portion	(11.1		)
Long-term investment in direct financing leases	$	25.9

Lease Disclosures

The Company's lease cost for the three and nine months ended September 30, 2019 was as follows:



	Three months ended September 30, 2019			Nine months ended September 30, 2019
Finance lease cost:	(In millions)
Amortization of right-of-use assets	$	1.3		4.0
Interest on lease liabilities	1.9			5.9
Operating lease cost	26.5			79.8
Variable lease cost	0.6			1.9
Short-term lease cost	0.0			0.0
Sublease income	(26.5		)	(81.9	)
Lease cost	$	3.8		9.7

Future minimum lease payments under noncancelable leases as lessee as of September 30, 2019 were as follows:



	Finance Leases			Operating Leases
	(In millions)
2019 (remaining three months)	$	5.1		$	23.2
2020	20.1			95.9
2021	16.5			79.1
2022	14.7			71.3
2023	11.6			58.7
Thereafter	65.0			220.8
Total minimum lease payments	133.0			549.0
Less: interest/imputed interest	(39.2		)	(112.0		)
Total obligations	93.8			437.0
Less: current portion	(12.5		)	(67.8		)
Long-term lease obligations	$	81.3		$	369.2

During the three and nine months ended September 30, 2019, the Company made the following cash payments for leases:



	Three months ended September 30, 2019		Nine months ended September 30, 2019
	(In millions)
Principal payments on finance lease obligations	$	3.4	$	10.3
Interest payments on finance lease obligations	$	1.9	$	5.9
Payments on operating leases	$	22.9	$	68.7
Variable lease payments	$	0.6	$	2.1

The Company's income from operating leases for the three and nine months ended September 30, 2019 was as follows:



	Three months ended September 30, 2019		Nine months ended September 30, 2019
	(In millions)
Minimum lease payments	$	25.0	$	76.2
Variable lease income	2.5		8.5
Total operating lease income	$	27.5	$	84.7

Future minimum payments to be received as lessor under noncancelable operating leases as of September 30, 2019 were as follows:



	(In millions)
2019 (remaining three months)	$	26.5
2020	107.3
2021	101.4
2022	98.4
2023	94.1
Thereafter	293.7
Total minimum rents receivable	721.4

The Company's income from direct financing leases for the three and nine months ended September 30, 2019 was as follows:



	Three months ended September 30, 2019		Nine months ended September 30, 2019
	(In millions)
Interest income	$	1.2	$	3.9
Variable lease income	0.2		1.0
Total operating lease income	$	1.4	$	4.9

Future minimum payments to be received as lessor under noncancelable direct financing leases as of September 30, 2019 were as follows:



	(In millions)
2019 (remaining three months)	$	3.9
2020	14.7
2021	11.6
2022	8.2
2023	3.6
Thereafter	3.8
Total minimum rents receivable	45.8
Less: unearned income	(8.8		)
Total net investment in direct financing leases	37.0
Less: current portion	(11.1		)
Long-term investment in direct financing leases	$	25.9

Fair Value Measurements - Fair Value of Non-Current Financial Liabilities (Details) - Level 2 - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Carrying amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, fair value	$ 1,300.0	$ 1,283.8
Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, fair value	$ 1,336.6	$ 1,280.9

Stockholders' Deficit - Narrative (Details) - USD ($)				1 Months Ended	3 Months Ended					9 Months Ended
Stockholders' Deficit - Narrative (Details) - USD ($)	Oct. 04, 2019	Jul. 12, 2019	Apr. 05, 2019	Jan. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Feb. 20, 2019	Oct. 31, 2015
Equity, Class of Treasury Stock [Line Items]
Dividends paid on common stock										$ 35,273,000	$ 39,973,000
Dividends declared per common share (USD per share)					$ 0.69	$ 0.69	$ 0.69	$ 0.63	$ 0.63	$ 2.07	$ 1.89
Dividends payable					$ 11,831,000			$ 11,389,000		$ 11,831,000
Dividends paid per common share (USD per share)		$ 0.69	$ 0.69	$ 0.63	$ 0.69				$ 0.63	$ 2.01	$ 2.23
Treasury stock reissued (shares)										260,474
Reissuance of treasury stock					$ 3,733,000				$ 3,266,000	$ 10,671,000	$ 3,886,000
Subsequent Event
Equity, Class of Treasury Stock [Line Items]
Dividends paid per common share (USD per share)	$ 690.00
Treasury Stock
Equity, Class of Treasury Stock [Line Items]
Treasury stock reissued (shares)					(73,000)				(62,000)	(260,000)	(165,000)
Reissuance of treasury stock					$ 3,151,000				$ 2,434,000	$ 11,408,000	$ 6,392,000
2019 Repurchase Program
Equity, Class of Treasury Stock [Line Items]
Stock repurchase program, authorized amount												$ 200,000,000
October 2015 Share Repurchase Program
Equity, Class of Treasury Stock [Line Items]
Stock repurchase program, authorized amount													$ 150,000,000

Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2019

Fair Value Disclosures [Abstract]

Fair Value of non-current financial liabilities

The fair values of the Company's 2019 Class A-2 Notes at September 30, 2019 and the Company's 2014 Class A-2 Notes at December 31, 2018 were as follows:



	September 30, 2019		December 31, 2018
	(In millions)
Face Value of Notes	$	1,300.0	$	1,283.8
Fair Value of Notes	$	1,336.6	$	1,280.9

Segments - Schedule of Segment Reporting Information by Segment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Segment Reporting Information [Line Items]
Rental revenues	$ 28,970	$ 30,127	$ 89,559	$ 91,292
Total revenues	217,405	194,099	682,667	566,733
Interest expense		17,700		53,100
Depreciation and amortization	10,700	7,900	31,515	23,730
Segment profit	31,732	31,247	101,931	78,554
Operating Segments
Segment Reporting Information [Line Items]
Segment profit	89,700	92,600	287,100	254,700
Corporate and unallocated expenses, net
Segment Reporting Information [Line Items]
Segment profit	(58,000)	(61,400)	(185,200)	(176,100)
Franchise operations \| Operating Segments
Segment Reporting Information [Line Items]
Depreciation and amortization	2,600	2,600	7,700	8,000
Segment profit	81,600	83,700	254,000	226,200
Rental operations \| Operating Segments
Segment Reporting Information [Line Items]
Rental revenues	29,000	30,100	89,600	91,300
Interest expense	1,800	2,300	6,100	7,000
Depreciation and amortization	3,300	2,900	10,200	8,700
Segment profit	6,400	7,100	21,400	22,900
Company restaurants \| Operating Segments
Segment Reporting Information [Line Items]
Interest expense	500	0	1,600	0
Depreciation and amortization	1,600	0	4,700	0
Segment profit	200	0	6,900	0
Financing operations \| Operating Segments
Segment Reporting Information [Line Items]
Segment profit	1,500	1,800	4,800	5,600
Corporate
Segment Reporting Information [Line Items]
Interest expense	15,200	15,400	45,200	46,100
Depreciation and amortization	3,200	2,400	8,900	7,000
Franchise revenues
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	156,200	162,078	487,794	469,332
Franchise revenues \| Franchise operations \| Operating Segments
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	156,200	162,100	487,800	469,300
Company restaurant sales
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	30,548	0	100,034	0
Company restaurant sales \| Company restaurants \| Operating Segments
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	30,500	0	100,000	0
Financing revenues
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	1,687	1,894	5,280	6,109
Financing revenues \| Financing operations \| Operating Segments
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	$ 1,700	$ 1,900	$ 5,300	$ 6,100

Segments (Tables)

9 Months Ended

Sep. 30, 2019

Segment Reporting [Abstract]

Schedule of segment reporting information by segment

Information on segments is as follows:



	Three months ended September 30,						Nine months ended September 30,
	2019			2018			2019			2018
	(In millions)
Revenues from external customers:
Franchise operations	$	156.2		$	162.1		$	487.8		$	469.3
Rental operations	29.0			30.1			89.6			91.3
Company restaurants	30.5			—			100.0			—
Financing operations	1.7			1.9			5.3			6.1
Total	$	217.4		$	194.1		$	682.7		$	566.7

Interest expense:
Rental operations	$	1.8		$	2.3		$	6.1		$	7.0
Company restaurants	0.5			—			1.6			—
Corporate	15.2			15.4			45.2			46.1
Total	$	17.5		$	17.7		$	52.9		$	53.1

Depreciation and amortization:
Franchise operations	$	2.6		$	2.6		$	7.7		$	8.0
Rental operations	3.3			2.9			10.2			$	8.7
Company restaurants	1.6			—			4.7			—
Corporate	3.2			2.4			8.9			7.0
Total	$	10.7		$	7.9		$	31.5		$	23.7

Gross profit, by segment:
Franchise operations	$	81.6		$	83.7		$	254.0		$	226.2
Rental operations	6.4			7.1			21.4			22.9
Company restaurants	0.2			—			6.9			—
Financing operations	1.5			1.8			4.8			5.6
Total gross profit	89.7			92.6			287.1			254.7
Corporate and unallocated expenses, net	(58.0		)	(61.4		)	(185.2		)	(176.1		)
Income before income tax provision	$	31.7		$	31.2		$	101.9		$	78.6

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Cash flows from operating activities:
Net income	$ 76,950	$ 53,373
Adjustments to reconcile net income to cash flows provided by operating activities:
Depreciation and amortization	31,515	23,730
Non-cash stock-based compensation expense	8,220	8,016
Non-cash interest expense	2,722	2,689
Loss on extinguishment of debt	8,276	0
Debt refinancing costs	0	875
Closure and impairment charges	640	61
Deferred income taxes	(2,890)	(4,706)
Deferred revenue	(6,590)	(4,017)
Loss (gain) on disposition of assets	1,187	(1,535)
Other	(4,584)	(2,088)
Changes in operating assets and liabilities:
Accounts receivable, net	4,233	(7,222)
Current income tax receivables and payables	7,101	4,088
Gift card receivables and payables	(15,868)	(22,797)
Other current assets	(3,519)	9,254
Accounts payable	359	(5,764)
Accrued employee compensation and benefits	(6,069)	5,761
Other current liabilities	3,916	1,908
Cash flows provided by operating activities	105,599	61,626
Cash flows from investing activities:
Principal receipts from notes, equipment contracts and other long-term receivables	16,156	20,029
Additions to property and equipment	(13,360)	(11,018)
Proceeds from sale of property and equipment	400	655
Additions to long-term receivables	(6,955)	(6,030)
Other	(258)	(236)
Cash flows (used in) provided by investing activities	(4,017)	3,400
Cash flows from financing activities:
Proceeds from issuance of long-term debt	1,300,000	0
Repayment of long-term debt	(1,283,750)	(9,750)
Borrowing from revolving financing facility	0	50,000
Repayment of revolving financing facility	(25,000)	(30,000)
Payment of debt issuance costs	(12,707)	(3,118)
Dividends paid on common stock	(35,273)	(39,973)
Repurchase of common stock	(90,073)	(27,880)
Principal payments on finance lease obligations	(10,329)	(10,374)
Proceeds from stock options exercised	10,672	3,887
Tax payments for restricted stock upon vesting	(2,589)	(1,731)
Cash flows used in financing activities	(149,049)	(68,939)
Net change in cash, cash equivalents and restricted cash	(47,467)	(3,913)
Cash, cash equivalents and restricted cash at beginning of period	200,379	163,146
Cash, cash equivalents and restricted cash at end of period	152,912	159,233
Supplemental disclosures:
Interest paid in cash	49,554	49,761
Income taxes paid in cash	34,337	26,044
Non-cash conversion of accounts receivable to notes receivable	$ 0	$ 11,559

Lease Disclosures Future minimum payments to be received as lessor under noncancelable operating leases (Details) $ in Millions	Sep. 30, 2019 USD ($)
Leases [Abstract]
2019 (remaining three months)	$ 26.5
2020	107.3
2021	101.4
2022	98.4
2023	94.1
Thereafter	293.7
Total minimum rents receivable	$ 721.4

Revenue Disclosures - Changes in the Company's contract liability for deferred franchise and development fees (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2019 USD ($)
Change in Contract with Customer, Liability [Roll Forward]
Balance at December 31, 2018	$ 74,695
Recognized as revenue during the nine months ended September 30, 2019	(8,385)
Fees deferred during the nine months ended September 30, 2019	2,015
Balance at September 30, 2019	$ 68,325

Lease Disclosures Future minimum payments to be received as lessor under noncancelable direct financing leases (Details) $ in Millions	Sep. 30, 2019 USD ($)
Leases [Abstract]
2019 (remaining three months)	$ 3.9
2020	14.7
2021	11.6
2022	8.2
2023	3.6
Thereafter	3.8
Total minimum rents receivable	45.8
Less: unearned income	(8.8)
Total net investment in direct financing leases	37.0
Less: current portion	(11.1)
Long-term investment in direct financing leases	$ 25.9

Lease Disclosures Components of Lease Cost (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2019
Finance lease cost:
Amortization of right-of-use assets	$ 1.3	$ 4.0
Interest on lease liabilities	1.9	5.9
Operating lease cost	26.5	79.8
Variable lease cost	0.6	1.9
Short-term lease cost	0.0	0.0
Sublease income	(26.5)	(81.9)
Lease cost	$ 3.8	$ 9.7

Stock-Based Compensation - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants in period (in shares)			132,832
Share-based compensation expense	$ 2,600	$ 3,800	$ 10,900	$ 10,400
Accrued employee compensation and benefits	21,410		21,410		$ 27,479
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total compensation cost not yet recognized	18,300		$ 18,300
Total compensation cost not yet recognized, period for recognition (in years)			1 year 6 months
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total compensation cost not yet recognized	3,800		$ 3,800
Total compensation cost not yet recognized, period for recognition (in years)			1 year 6 months
Cash-settled Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ (200)	300	$ 1,000	700
LTIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)	3 years
Share-based compensation expense	$ 500	$ 1,100	1,700	$ 1,600
Accrued employee compensation and benefits	$ 2,900		$ 2,900		$ 2,400
LTIP \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Multiplier for target award based on total shareholder return on common stock (percent)			0.00%
LTIP \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Multiplier for target award based on total shareholder return on common stock (percent)			200.00%

Restricted Cash (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Restricted Cash and Cash Equivalents Items [Line Items]
Current restricted cash	$ 36,694	$ 48,515
Non-current restricted cash	15,700	14,700
Held in Trust Deposits
Restricted Cash and Cash Equivalents Items [Line Items]
Current restricted cash	33,000	42,300
Held for Advertising Activity Deposits
Restricted Cash and Cash Equivalents Items [Line Items]
Current restricted cash	$ 3,500	$ 6,200

Revenue Disclosures

9 Months Ended

Sep. 30, 2019

Revenue from Contract with Customer [Abstract]

Revenue Disclosures

Franchise revenue (which comprises most of the Company's revenues) and revenue from company-operated restaurants are recognized in accordance with current guidance for revenue recognition as codified in Accounting Standards Topic 606 (“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.

Franchising Activities

The Company owns, franchises and operates the Applebee's Neighborhood Grill & Bar^® (“Applebee's”) concept in the casual dining category of the restaurant industry and the Company owns and franchises the International House of Pancakes^® (“IHOP”) concept in the family dining category of the restaurant industry. The franchise arrangement for both 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 brands 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 respective 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 both 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. 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 revenue 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 revenue are recognized when the franchisee's reported sales occur. Depending on timing within a fiscal period, the recognition of revenue results in either what is considered a contract asset (unbilled receivable) or, once billed, accounts receivable, and are included in “receivables, net” in the Consolidated Balance Sheets.


•	Revenue from the sale 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 an accounts receivable included in “receivables, net” in the Consolidated Balance Sheets.

In determining the amount and timing of revenue from contracts with customers, the Company exercises significant judgment with respect to collectibility of the amount; however, the timing of recognition does not require significant judgments as it is based on either the term of the franchise agreement, the month of reported sales 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 franchising activities. The Company's franchising arrangements do not contain a significant financing component.

Company Restaurant Revenue

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.

The following table disaggregates franchise revenue by major type for the three and nine months ended September 30, 2019 and 2018:



	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2019		2018		2019		2018
	(In thousands)
Franchise Revenue:
Royalties	$	72,506	$	75,910	$	226,888	$	229,162
Advertising fees	67,514		71,016		211,882		193,557
Pancake and waffle dry mix sales and other	13,201		12,541		40,158		37,809
Franchise and development fees	2,979		2,611		8,866		8,804
Total franchise revenue	$	156,200	$	162,078	$	487,794	$	469,332

Accounts receivable from franchisees as of September 30, 2019 and December 31, 2018 were $59.5 million (net of allowance of $1.0 million) and $62.6 million (net of allowance of $4.6 million), respectively, and were included in receivables, net in the Consolidated Balance Sheets.

Changes in the Company's contract liability for deferred franchise and development fees during the nine months ended September 30, 2019 are as follows:



	Deferred Franchise Revenue (short- and long-term)
	(In thousands)
Balance at December 31, 2018	$	74,695
Recognized as revenue during the nine months ended September 30, 2019	(8,385		)
Fees deferred during the nine months ended September 30, 2019	2,015
Balance at September 30, 2019	$	68,325

The balance of deferred revenue as of September 30, 2019 is expected to be recognized as follows:



	(In thousands)
Remainder of 2019	$	2,250
2020	10,197
2021	7,832
2022	7,310
2023	6,739
2024	6,050
Thereafter	27,947
Total	$	68,325

Lease Disclosures Future minimum lease payments under noncancelable leases as lessee (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Finance Leases
2019 (remaining three months)	$ 5,100
2020	20,100
2021	16,500
2022	14,700
2023	11,600
Thereafter	65,000
Total minimum lease payments	133,000
Less: interest/imputed interest	(39,200)
Total obligations	93,800
Less: current portion	(12,500)
Long-term lease obligations	81,317
Operating Leases
2019 (remaining three months)	23,200
2020	95,900
2021	79,100
2022	71,300
2023	58,700
Thereafter	220,800
Total minimum lease payments	549,000
Less: interest/imputed interest	(112,000)
Total obligations	437,000
Less: current portion	(67,815)	$ 0
Long-term lease obligations	$ 369,164	$ 0

Accounting Standards Adopted and Newly Issued Accounting Standards Not Yet Adopted - Narrative (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
	Jan. 01, 2019	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease obligations		$ 437,000		$ 437,000
Operating lease right-of-use assets		370,500		370,500		$ 0
Adoption of ASC 842	$ 5,030
Income tax provision		$ 7,815	$ 7,660	$ 24,981	$ 25,181
Retained Earnings
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Adoption of ASC 842	5,030
Accounting Standards Update 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease obligations	453,000
Operating lease right-of-use assets	395,600
Income tax provision	(1,700)
Derecognition of certain liabilities and assets	(50,700)
Accrued rent	(43,300)
Accounting Standards Update 2016-02 \| Retained Earnings
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Adoption of ASC 842	$ 5,000

Long-Term Debt

9 Months Ended

Sep. 30, 2019

Debt Disclosure [Abstract]

Long-Term Debt

At September 30, 2019 and December 31, 2018, long-term debt consisted of the following:



	September 30, 2019			December 31, 2018
	(In millions)
Series 2019-1 4.194% Fixed Rate Senior Secured Notes, Class A-2-I	$	700.0		$	—
Series 2019-1 4.723% Fixed Rate Senior Secured Notes, Class A-2-II	600.0			—
Series 2014-1 4.277% Fixed Rate Senior Secured Notes, Class A-2	—			1,283.8
Series 2018-1 Variable Funding Senior Notes Class A-1, variable interest rate of 4.93% at December 31, 2018	—			25.0
Class A-2-I and A-2-II (2019) and Class A-2 (2018) Note debt issuance costs	(12.3		)	(9.7		)
Long-term debt, net of debt issuance costs	1,287.7			1,299.1
Current portion of long-term debt	—			(25.0		)
Long-term debt	$	1,287.7		$	1,274.1

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.

The Co-Issuers also replaced their existing revolving financing facility, the 2018-1 Variable Funding Senior Notes, Class A-1 (“2018-1 Class A-1 Notes”), with a new revolving financing facility, the 2019-1 Variable Funding Senior Notes, Class A-1 (the “2019 Class A-1 Notes”), on substantially the same terms as the 2018-1 Class A-1 Notes in order to conform the term of the 2019 Class A-1 Notes to the anticipated repayment dates for the 2019 Class A-2 Notes. The 2019 Class A-1 Notes and the 2019 Class A-2 Notes are referred to collectively herein as the “New Notes.”

The New Notes were issued in a securitization transaction pursuant to which substantially all of the domestic revenue-generating assets and domestic intellectual property, as further described below, 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 New Notes.

The Company used the majority of the net proceeds of the offering to repay the entire outstanding balance of approximately $1.28 billion of Series 2014-1 4.277% Fixed Rate Senior Notes, Class A-2 (the “2014 Class A-2 Notes”). The Company used the remaining proceeds of the offering to pay for transactions costs associated with the securitization refinancing transaction and for general corporate purposes.

2019 Class A-2 Notes

The New 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”), and 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. The Base Indenture and the Series 2019-1 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.

The legal final maturity of the 2019 Class A-2 Notes is in June 2049, but rapid amortization will apply if the Class A-2-I Notes are not repaid by June 2024 (the “Class A-2-I Anticipated Repayment Date”) and for the Class A-2-II Notes if not repaid by 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 Series 2019-1 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 Series 2019-1 Class A-2-I Notes and 2.64% for the Series 2019-1 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 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 for the immediately preceding quarterly calculation date and no rapid amortization event has occurred and is continuing. As of September 30, 2019, the Company's leverage ratio was 4.65x; accordingly, no principal payment on the 2019 Class A-2 Notes will be required during the fourth quarter of 2019. Exceeding the leverage ratio of 5.25x does not violate any covenant related to the New Notes.

The Company may voluntarily repay the 2019 Class A-2 Notes at any time, however, if the Company repays the New Notes prior to certain dates it would be required to pay make-whole or call redemption premiums. As of September 30, 2019, the make-whole premium associated with voluntary prepayment of the Class A-2-I Notes was approximately $38 million; this amount declines progressively each quarter to zero in June 2022. As of September 30, 2019, the make-whole premium associated with voluntary prepayment of the Class A-2-II Notes was approximately $67 million; this amount declines progressively each quarter to zero in June 2024. In lieu of the applicable make-whole premiums above, a call redemption premium will be payable upon any redemption or refinancing in full of the New Notes at any time on or after the quarterly payment date in June 2022 and on or prior to the quarterly payment date in June 2023. The call redemption premium is the lesser of 101% times the outstanding principal amount of the Class A-2-II Notes, less the outstanding principal amount of the Class A-2-II, at the time of redemption or refinancing and the applicable make-whole premium otherwise payable on the Class A-2-II Notes.

The Company would also be subject to a make-whole premium in the event of a mandatory prepayment required following a Rapid Amortization Event 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 June 30, 2019, based on the probability-weighted discounted cash flows associated with either event.

2019 Class A-1 Notes

The Co-Issuers also entered into a revolving financing facility, the 2019 Class A-1 Notes, that allows for drawings up to $225 million of variable funding notes and the issuance of letters of credit. The 2019 Class A-1 Notes were issued under the Indenture. Drawings and certain additional terms related to the 2019 Class A-1 Notes are governed by the 2019 Class A-1 Note Purchase Agreement, dated June 5, 2019, among the Co-Issuers, certain special-purpose, wholly-owned indirect subsidiaries of the Company, each as a Guarantor, the Company, as manager, certain conduit investors, financial institutions and funding agents, and Barclays Bank PLC, as provider of letters credit, swingline lender and administrative agent (the “Purchase Agreement”).

The 2019 Class A-1 Notes are governed, in part, by the Purchase Agreement and by certain generally applicable terms contained in the Indenture. The applicable interest rate under the 2019 Class A-1 Notes 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 Eurodollar Funding Rate, in either case, plus 2.15%. 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) 1.15% plus (b) 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) the one-month Eurodollar Funding Rate plus 1.00%. There is no upfront fee for the 2019 Class A-1 Notes. There is a fee of 50 basis points on any unused portion of the revolving financing facility. Undrawn face amounts of outstanding letters of credit that are not cash collateralized accrue a fee of 2.15% per annum. It is anticipated that any principal and interest on the 2019 Class A-1 Notes will be repaid in full on or prior to the quarterly payment date in June 2024 (the “2019 Class A-1 Anticipated Repayment Date”), subject to two additional one-year extensions at the option of the Company upon the satisfaction of certain conditions.

The Company has not drawn on the 2019 Class A-1 Notes subsequent to their June 5, 2019, issuance. At September 30, 2019, $2.8 million was pledged against the 2019 Class A-1 Notes for outstanding letters of credit, leaving $222.2 million of 2019 Class A-1 Notes available for borrowing. The letters of credit are used primarily to satisfy insurance-related collateral requirements.

During the nine months ended September 30, 2019, the Company repaid $25.0 million of 2018 Class A-1 Notes, representing the amount outstanding at December 31, 2018; the Company did not draw additional amounts of the 2018 Class A-1 Notes prior to their replacement with the 2019 Class A-1 Notes on June 5, 2019. The maximum amount of 2018 Class A-1 Notes outstanding during the nine months ended September 30, 2019 was $25.0 million and the weighted average interest rate on the 2018 Class A-1 Notes for the period outstanding was 4.88%.

Guarantee and Collateral Agreement

Under the Guarantee and Collateral Agreement, dated September 30, 2014, as amended and restated as of June 5, 2019, among the Guarantors in favor of the Trustee, the Guarantors guarantee the obligations of the Co-Issuers under the Indenture and related documents and secure the guarantee by granting a security interest in substantially all of their assets.

The New Notes are secured by a security interest in substantially all of the assets of the Co-Issuers and the Guarantors (collectively, the “Securitization Entities”). On the Closing Date, these assets (the “Securitized Assets”) generally included substantially all of the domestic revenue-generating assets of the Company and its subsidiaries, which principally consist of franchise agreements, area license agreements, development agreements, franchisee fee notes, equipment leases, agreements related to the domestic production of and the sale of pancake and waffle dry-mixes, owned and leased real property and intellectual property.

The New Notes are the obligations only of the Co-Issuers pursuant to the Indenture and are unconditionally and irrevocably guaranteed by the Guarantors pursuant to the Guarantee and Collateral Agreement. Except as described below, neither the Company nor any subsidiary of the Company, other than the Securitization Entities, will guarantee or in any way be liable for the obligations of the Co-Issuers under the Indenture or the New Notes.

Management Agreement

Under the terms of the Management Agreement, dated September 30, 2014, as amended and restated as of September 5, 2018 and as further amended and restated as of June 5, 2019, among the Company, the Securitization Entities, Applebee’s Services, Inc., International House of Pancakes, LLC and the Trustee, the Company will act as the manager with respect to 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 manager will manage and administer the Securitized Assets in accordance with the terms of the Management Agreement and, except as otherwise provided in the Management Agreement, the management standard set forth in the Management Agreement. Subject to limited exceptions set forth in the Management Agreement, the Management Agreement does not require the manager to expend or risk its funds or otherwise incur any financial liability in the performance of any of its rights or powers under the Management Agreement if the manager has reasonable grounds for believing that repayment of such funds or adequate indemnity against such risk or liability is not compensated by payment of the weekly management fee or is otherwise not reasonably assured or provided to it.

Subject to limited exceptions set forth in the Management Agreement, the manager will indemnify each Securitization Entity, the trustee and certain other parties, and their respective officers, directors, employees and agents for all claims, penalties, fines, forfeitures, losses, liabilities, obligations, damages, actions, suits and related costs and judgments and other costs, fees and reasonable expenses that any of them may incur as a result of (a) the failure of the manager to perform or observe its obligations under the Management Agreement, (b) the breach by the manager of any representation, warranty or covenant under the Management Agreement, or (c) the manager’s negligence, bad faith or willful misconduct in the performance of its duties under the Management Agreement.

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 for similar types of financing, including events tied to our failure 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 New Notes on or before their respective 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 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.

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 New Notes) in a restricted account. In a Rapid Amortization Event, all excess Cash Flow is retained and used to retire principal amounts of debt. 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 September 30, 2019 was 4.35x.

Debt Issuance Costs

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 the estimated life of each tranche of the 2019 Class A-2 Notes. Amortization costs of $0.5 million and $0.6 million were included in interest expense for the three and nine months ended September 30, 2019, respectively. Unamortized debt issuance costs of $12.3 million are reported as a direct reduction of the 2019 Class A-2 Notes in the Consolidated Balance Sheets at September 30, 2019.

The Company incurred costs of approximately $0.2 million in connection with the replacement of the 2018-1 Class A-1 Notes with the 2019-1 Class A-1 Notes. These debt issuance costs have been added to the remaining unamortized costs of approximately $2.8 million related to the 2018-1 Class A-1 Notes, the total of which costs is being amortized using the effective interest method over the estimated five-year life of the 2019-1 Class A-1 Notes. Amortization costs of $0.2 million and $0.7 million included in interest expense for the three and nine months ended September 30, 2019, respectively.

Unamortized debt issuance costs of $2.8 million related to the 2019-1 Class A-1 Notes are reported as other long-term assets in the Consolidated Balance Sheets at September 30, 2019.

Loss on Extinguishment of Debt

In connection with the repayment of the 2014 Class A-2 Notes, the Company recognized a loss on extinguishment of debt of $8.3 million, representing the remaining unamortized costs related to the 2014 Class A-2 Notes. Amortization costs of $1.4 million associated with the 2014 Class A-2 Notes prior to their extinguishment on June 5, 2019, have been included in interest expense for the nine months ended September 30, 2019.

Debt Refinancing Costs

During the three months ended September 30, 2018, the Company explored opportunities related to possible refinancing of its long-term debt. On September 5, 2018, certain subsidiaries of the Company entered into the 2018-1 Class A-1 Notes that allowed for drawings of up to $225 million of variable funding notes on a revolving basis and the issuance of letters of credit. In connection with issuance of the 2018-1 Class A-1 Notes, on September 5, 2018, the Company terminated the Note Purchase Agreement, dated September 30, 2014 (the “2014 Note Purchase Agreement”), related to the Series 2014-1 Class A-1 Notes (the “2014 Class A-1 Notes”) that were replaced by the 2018-1 Class A-1 Notes. In connection with the termination of the 2014 Note Purchase Agreement, the Company recognized as expense approximately $0.9 million of remaining unamortized issuance costs associated with the 2014 Class A-1 Notes.

The Company incurred approximately $1.6 million of costs in evaluating options with respect to refinancing its securitization debt. After completing the evaluation, the Company did not consummate a refinancing transaction and the entire $1.6 million was charged to expense during the three months ended September 30, 2018.

The combined total related to these transactions of $2.5 million is reported as “Debt refinancing costs” in the Consolidated Statements of Comprehensive Income for the three and nine months ended September 30, 2018.

For a description of the 2014 Class A-2 Notes and the 2018-1 Class A-1 Notes, refer to Note 8 of the Notes to Consolidated Financial Statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018.

Long-Term Debt (Schedule of Debt) (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Class A-2-I and A-2-II (2019) and Class A-2 (2018) Note debt issuance costs	$ (12,300)	$ (9,700)
Long-term debt, net of debt issuance costs	1,287,700	1,299,100
Current portion of long-term debt	0	(25,000)
Long-term debt, less current maturities	$ 1,287,738	$ 1,274,087
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%
Senior notes	$ 700,000	$ 0
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%
Senior notes	$ 600,000	$ 0
Series 2014-1 4.277% Fixed Rate Senior Secured Notes, Class A-2
Debt Instrument [Line Items]
Debt interest rate (percent)	4.277%	4.277%
Senior notes	$ 0	$ 1,283,800
Series 2019-1 Variable Funding Senior Notes Class A-1, variable interest rate of ___% at June 30, 2019
Debt Instrument [Line Items]
Class A-2-I and A-2-II (2019) and Class A-2 (2018) Note debt issuance costs	(2,800)
Series 2018-1 Variable Funding Senior Notes Class A-1, variable interest rate of 4.93% at December 31, 2018
Debt Instrument [Line Items]
Debt interest rate (percent)		4.93%
Senior notes	0	$ 25,000
Class A-2-I and A-2-II (2019) and Class A-2 (2018) Note debt issuance costs	$ (2,800)