0000049754-21-000007 | 10-K | XBRL Viewer

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Cover page - USD ($) $ in Millions	12 Months Ended
Cover page - USD ($) $ in Millions	Dec. 31, 2020	Feb. 23, 2021	Jun. 30, 2020
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2020
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-15283
Entity Registrant Name	Dine Brands Global, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	95-3038279
Entity Address, Address Line One	450 North Brand Boulevard,
Entity Address, City or Town	Glendale,
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	91203-1903
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 Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Smaller Company	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 603.7
Entity Common Stock, Shares Outstanding		16,645,115
Documents Incorporated by Reference	Portions of the Proxy Statement for the Annual Meeting of Stockholders to be held on Tuesday, May 11, 2021 are incorporated by reference into Part III of this Annual Report on Form 10-K where indicated. Except as expressly incorporated by reference, the registrant’s Proxy Statement shall not be deemed to be part of this report.
Entity Central Index Key	0000049754
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Amendment Flag	false

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 383,369	$ 116,043
Receivables, net of allowance of $15,057 (2020) and $3,138 (2019)	121,897	136,869
Restricted cash	39,884	40,732
Prepaid gift card costs	29,080	36,077
Prepaid income taxes	6,178	13,290
Other current assets	6,098	3,906
Total current assets	586,506	346,917
Other intangible assets, net	549,671	575,103
Operating lease right-of-use assets	346,086	366,931
Goodwill	251,628	343,862
Property and equipment, net	187,977	216,420
Long-term receivables, net of allowance of $7,999 (2020) and $8,155 (2019)	54,512	85,999
Deferred rent receivable	56,449	70,308
Non-current restricted cash	32,800	15,700
Other non-current assets, net	9,316	28,271
Total assets	2,074,945	2,049,511
Current liabilities:
Current maturities of long-term debt	13,000	0
Accounts payable	37,424	40,925
Gift card liability	144,159	159,019
Current maturities of operating lease obligations	69,672	72,815
Current maturities of finance lease and financing obligations	11,293	13,669
Accrued employee compensation and benefits	21,237	23,904
Accrued advertising expenses	21,641	8,760
Deferred franchise revenue, short-term	7,682	10,086
Dividends payable	0	11,702
Other accrued expenses	22,460	17,032
Total current liabilities	348,568	357,912
Long-term debt, net, less current maturities	1,491,996	1,288,248
Operating lease obligations, less current maturities	345,163	359,025
Finance lease obligations, less current maturities	69,012	77,393
Financing obligations, less current maturities	32,797	37,682
Deferred income taxes, net	78,293	98,499
Deferred franchise revenue, long-term	52,237	56,944
Other non-current liabilities	11,530	15,582
Total liabilities	2,429,596	2,291,285
Commitments and contingencies
Stockholders' deficit:
Preferred Stock, Value, Issued	0	0
Common stock, $0.01 par value; shares: 40,000,000 authorized; 2020 -24,882,122 issued, 16,452,174 outstanding; 2019 - 24,925,447 issued, 16,521,921 outstanding	249	249
Additional paid-in-capital	257,625	246,192
(Accumulated deficit) retained earnings	(55,553)	61,653
Accumulated other comprehensive loss	(55)	(58)
Treasury stock, at cost; shares: 2020 - 8,429,948; 2019 - 8,403,526	(556,917)	(549,810)
Total stockholders' deficit	(354,651)	(241,774)
Total liabilities and stockholders' deficit	$ 2,074,945	$ 2,049,511

Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Receivables, allowance for credit loss	$ 15,057	$ 3,138
Long-term receivables, allowance for credit loss	$ 7,999	$ 8,155
Preferred stock, par or stated value per share (in dollars per share)	$ 1	$ 1
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value per share (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)	24,882,122	24,925,447
Common stock, shares outstanding (in shares)	16,452,174	16,521,921
Treasury stock, shares outstanding (in shares)	8,429,948	8,403,526

Consolidated Statements of Comprehensive (Loss) Income - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenues:
Rental revenues	$ 105,939	$ 120,666	$ 121,934
Total revenues	689,268	910,178	780,931
Cost of revenues:
Total franchise expenses	238,972	312,754	330,619
Company restaurant expenses	111,550	123,272	5,872
Interest expense from finance leases	4,563	5,602	6,894
Other rental expenses	84,939	85,157	83,862
Total rental expenses	89,502	90,759	90,756
Financing expenses	528	579	597
Total cost of revenues	440,552	527,364	427,844
Gross profit	248,716	382,814	353,087
General and administrative expenses	144,791	162,815	166,683
Impairment and closure charges	132,620	1,487	2,107
Interest expense, net	66,895	60,393	61,686
Amortization of intangible assets	10,903	11,702	10,105
Loss on extinguishment of debt	0	8,276	0
Debt refinancing costs	0	0	2,523
Loss (gain) on disposition of assets	2,069	(332)	(625)
(Loss) income before income tax benefit (provision)	(108,562)	138,473	110,608
Income tax benefit (provision)	4,568	(34,127)	(30,254)
Net (loss) income	(103,994)	104,346	80,354
Other comprehensive (loss) income, net of tax:
Adjustment to unrealized loss on available-for-sale investments	0	0	50
Foreign currency translation adjustment	3	2	(5)
Total comprehensive (loss) income	(103,991)	104,348	80,399
Net (loss) income available to common stockholders:
Net (loss) income	(103,994)	104,346	80,354
Less: Net income allocated to unvested participating restricted stock	(420)	(3,532)	(2,711)
Net (loss) income available to common stockholders	$ (104,414)	$ 100,814	$ 77,643
Net (loss) income available to common stockholders per share:
Basic (in dollars per share)	$ (6.43)	$ 5.95	$ 4.43
Diluted (in dollars per share)	$ (6.43)	$ 5.85	$ 4.37
Weighted average shares outstanding:
Basic (in shares)	16,230	16,934	17,533
Diluted (in shares)	16,230	17,245	17,789
Franchisor
Revenues:
Revenue from contract with customer, excluding assessed tax	$ 469,453	$ 651,186	$ 643,934
Franchisor - Royalties, franchise fees, and other
Revenues:
Revenue from contract with customer, excluding assessed tax	267,959	368,171	375,640
Franchisor - Advertising Revenue
Revenues:
Revenue from contract with customer, excluding assessed tax	201,494	283,015	268,294
Company restaurant sales
Revenues:
Revenue from contract with customer, excluding assessed tax	108,054	131,214	7,084
Financing revenues
Revenues:
Revenue from contract with customer, excluding assessed tax	5,822	7,112	7,979
Advertising expenses
Revenues:
Revenue from contract with customer, excluding assessed tax	201,494	283,015	268,294
Cost of revenues:
Total franchise expenses	202,012	281,781	269,590
Bad debt expense (credit)
Cost of revenues:
Total franchise expenses	12,756	(365)	452
Other franchise expenses
Cost of revenues:
Total franchise expenses	$ 24,204	$ 31,338	$ 60,577

Consolidated Statements of Stockholders' Deficit - USD ($) $ in Thousands	Total	Cumulative Effect, Period Of Adoption, Adjustment	Common Stock	Additional Paid-in Capital	(Accumulated Deficit) Retained Earnings	(Accumulated Deficit) Retained Earnings Cumulative Effect, Period Of Adoption, Adjustment	Accumulated Other Comprehensive Loss	Treasury Stock
Common stock, shares, outstanding, beginning (in shares) at Dec. 31, 2017			17,993,000
Stockholders' equity, 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]
Accounting Standards Update [Extensible List]	us-gaap:AccountingStandardsUpdate201602Member
Net (loss) income	$ 80,354				80,354
Other comprehensive gain	45						45
Purchase of common stock (in shares)			(479,000)					(479,000)
Purchase of common stock	$ (34,929)							$ (34,929)
Reissuance of treasury stock (in shares)	167,396		167,000					167,000
Reissuance of treasury stock	$ 3,928			(2,551)				$ 6,479
Net issuance of shares for stock plans (in shares)			(11,000)
Repurchase of restricted shares (in shares)			(27,000)
Repurchase of restricted shares for taxes	(1,972)			(1,972)
Stock-based compensation	10,546			10,546
Dividends declared from additional paid-in capital	(44,705)			(44,705)
Dividends on common stock					0
Common stock, shares, outstanding, ending (in shares) at Dec. 31, 2018			17,644,000
Stockholders' equity, ending of the period at Dec. 31, 2018	$ (202,273)	$ (5,030)	$ 250	237,726	10,414	$ (5,030)	(60)	$ (450,603)
Treasury stock, shares, ending (in shares) at Dec. 31, 2018								7,341,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Accounting Standards Update [Extensible List]	us-gaap:AccountingStandardsUpdate201613Member
Net (loss) income	$ 104,346				104,346
Other comprehensive gain	2						2
Purchase of common stock (in shares)			(1,348,000)					(1,348,000)
Purchase of common stock	$ (111,697)							$ (111,697)
Reissuance of treasury stock (in shares)	285,302		285,000					285,000
Reissuance of treasury stock	$ 11,969		$ (1)	(520)				$ 12,490
Net issuance of shares for stock plans (in shares)			(30,000)
Repurchase of restricted shares (in shares)			(30,000)
Repurchase of restricted shares for taxes	(2,728)			(2,728)
Stock-based compensation	10,808			10,808
Dividends declared from additional paid-in capital				0
Dividends on common stock	(47,095)			982	(48,077)
Tax withheld related to settlement of restricted stock units	$ (76)			(76)
Common stock, shares, outstanding, ending (in shares) at Dec. 31, 2019	16,521,921		16,522,000
Stockholders' equity, ending of the period at Dec. 31, 2019	$ (241,774)	$ (497)	$ 249	246,192	61,653	$ (497)	(58)	$ (549,810)
Treasury stock, shares, ending (in shares) at Dec. 31, 2019	8,403,526							8,404,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	$ (103,994)				(103,994)
Other comprehensive gain	3						3
Purchase of common stock (in shares)			(460,000)					(460,000)
Purchase of common stock	$ (26,527)							$ (26,527)
Reissuance of treasury stock (in shares)	433,477		433,000					433,000
Reissuance of treasury stock	$ 20,522			1,102				$ 19,420
Net issuance of shares for stock plans (in shares)			(8,000)
Repurchase of restricted shares (in shares)			(36,000)
Repurchase of restricted shares for taxes	(2,479)			(2,479)
Stock-based compensation	12,508			12,508
Dividends declared from additional paid-in capital				0
Dividends on common stock	(12,208)			507	(12,715)
Tax withheld related to settlement of restricted stock units	$ (205)			(205)
Common stock, shares, outstanding, ending (in shares) at Dec. 31, 2020	16,452,174		16,452,000
Stockholders' equity, ending of the period at Dec. 31, 2020	$ (354,651)		$ 249	$ 257,625	$ (55,553)		$ (55)	$ (556,917)
Treasury stock, shares, ending (in shares) at Dec. 31, 2020	8,429,948							8,430,000

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Cash flows from operating activities
Net (loss) income	$ (103,994)	$ 104,346	$ 80,354
Adjustments to reconcile net (loss) income to cash flows provided by operating activities:
Impairment and closure charges	132,501	1,485	2,038
Depreciation and amortization	42,829	42,493	32,175
Non-cash stock-based compensation expense	12,508	10,808	10,546
Non-cash interest expense	2,698	3,369	3,792
Deferred income taxes	(20,049)	(5,494)	(11,847)
Deferred revenue	(7,111)	(7,695)	(5,577)
Loss on extinguishment of debt	0	8,276	0
Loss (gain) on disposition of assets	2,069	(332)	(623)
Other	(2,566)	(5,374)	(949)
Changes in operating assets and liabilities:
Accounts receivable, net	(9,750)	(396)	3,149
Current income tax receivables and payables	16,143	8,677	8,119
Gift card receivables and payables	12,231	(1,037)	(1,488)
Other current assets	(2,191)	(498)	10,425
Accounts payable	6,455	583	(9,940)
Accrued employee compensation and benefits	(1,909)	(3,575)	13,183
Accrued advertising expenses	12,881	(1,166)	0
Other current liabilities	3,758	710	6,989
Cash flows provided by operating activities	96,503	155,180	140,346
Cash flows from investing activities
Principal receipts from notes, equipment contracts and other long-term receivables	31,155	24,075	25,771
Net additions to property and equipment	(10,927)	(19,424)	(14,279)
Proceeds from sale of property and equipment	537	2,540	655
Additions to long-term receivables	(1,475)	(6,955)	(6,500)
Acquisition of business	0	0	(20,155)
Other	(565)	(389)	(293)
Cash flows provided by (used in) investing activities	18,725	(153)	(14,801)
Cash flows from financing activities
Proceeds from issuance of long-term debt	0	1,300,000	0
Repayment of long-term debt	(3,250)	(1,283,750)	(13,000)
Borrowings from revolving credit facility	220,000	0	75,000
Repayments of revolving credit facility	0	(25,000)	(50,000)
Payment of debt issuance costs	0	(13,150)	(3,633)
Dividends paid on common stock	(23,934)	(46,859)	(51,125)
Repurchase of common stock	(29,853)	(109,698)	(33,603)
Principal payments of finance lease obligations	(12,451)	(13,639)	(13,907)
Proceeds from stock options exercised	20,523	11,969	3,928
Tax payments for restricted stock upon vesting	(2,480)	(2,728)	(1,972)
Tax payments for share settlement of restricted stock units	(205)	(76)	0
Cash flows provided by (used in) financing activities	168,350	(182,931)	(88,312)
Net change in cash, cash equivalents and restricted cash	283,578	(27,904)	37,233
Cash, cash equivalents and restricted cash at beginning of year	172,475	200,379	163,146
Cash, cash equivalents and restricted cash at end of year	456,053	172,475	200,379
Supplemental disclosures
Interest paid	69,208	66,104	66,059
Income taxes paid	11,873	44,748	34,246
Non-cash conversion of accounts receivable to notes receivable	$ 1,307	$ 185	$ 11,959

The Company	12 Months Ended
The Company	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
The Company	The Company The first International House of Pancakes® (“IHOP”) restaurant opened in 1958 in Toluca Lake, California. Shortly thereafter, the Company began developing and franchising additional restaurants. The Company was incorporated as IHOP Corp. under the laws of the State of Delaware in 1976. In November 2007, the Company acquired Applebee's International, Inc., which became a wholly-owned subsidiary of the Company. Effective June 2, 2008, the name of the Company was changed to DineEquity, Inc. and on February 20, 2018, the name of the Company was changed to Dine Brands Global, Inc.SM (“Dine Brands Global”). The Company owns, franchises and operates two restaurant concepts: Applebee's Neighborhood Grill + Bar® (“Applebee's”), in the bar and grill segment within the casual dining category of the restaurant industry, and IHOP® in the family dining category of the restaurant industry. As of December 31, 2020, there were 1,772 IHOP restaurants, of which 1,611 were subject to franchise agreements and 158 were subject to area license agreements. These IHOP restaurants were located in all 50 states of the United States, the District of Columbia, two United States territories and nine countries outside the United States. As of December 31, 2020, there were 1,711 Applebee's® restaurants, of which 1,642 were subject to franchise agreements and 69 were company-operated restaurants. These Applebee's restaurants were located in 49 states of the United States, two United States territories and 11 countries outside the United States. References herein to Applebee's and IHOP restaurants are to these restaurant concepts, whether operated by franchisees, area licensees or the Company. Retail sales at restaurants that are owned by franchisees and area licensees are not attributable to the Company.

Basis of Presentation and Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2020

Accounting Policies [Abstract]

Basis of Presentation and Summary of Significant Accounting Policies

Principles of Consolidation

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

Fiscal Periods

The Company has a 52/53 week fiscal year that ends on the Sunday nearest to December 31 of each year. In a 52-week fiscal year, each fiscal quarter contains 13 weeks, comprised of two, four-week fiscal months followed by a five-week fiscal month. In a 53-week fiscal year, the last month of the fourth fiscal quarter contains six weeks. For convenience, the Company refers to its fiscal years as ending on December 31 and its fiscal quarters as ending on March 31, June 30 and September 30. The December 31, 2020 fiscal year ended January 3, 2021 and contained 53 weeks. The 2019 and 2018 fiscal years ended December 29, 2019 and December 30, 2018, respectively, and each contained 52 weeks.

Use of Estimates

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

Risks and Uncertainties

The Company was subject to risks and uncertainties as a result of the outbreak of a novel strain of coronavirus, designated “COVID-19” and declared to be a pandemic in March 2020. The Company first began to experience impacts from COVID-19 in March 2020, as federal, state and local governments reacted to the COVID-19 pandemic by encouraging or requiring social distancing, instituting shelter-in-place orders, and requiring, in varying degrees, reduced operating hours, restaurant dine-in and/or indoor dining limitations, capacity limitations or other restrictions that largely limited restaurants to off-premise sales (take-out and delivery) in the early stages of the pandemic. Most of the Company's international restaurants were impacted as well as

a result of restrictions put in place in various countries similar to those in the United States. Over the course of 2020, certain of these restrictions were relaxed as incidents of infection from the initial outbreak declined, but many of the restrictions were reinstituted as incidents of infection surged. The degree and duration of restriction varied by individual geographic area. The extent of the continuing impact of the COVID-19 pandemic on the Company's business remains highly uncertain and difficult to predict, as the operating status of our restaurants remains fluid and subject to change as government authorities modify existing restrictions or implement new restrictions on restaurant operations in response to changes in the number of COVID-19 infections and the availability and acceptance of vaccines in their respective jurisdictions. Additionally, economies worldwide have been negatively impacted by the COVID-19 pandemic, which possibly could cause a domestic and/or global economic recession.

The Company has taken several actions to mitigate the effects of the COVID-19 pandemic on its operations and its franchisees, as follows: (i) drew down $220 million from its revolving credit facility, leaving available remaining borrowing under the facility of approximately $2 million; (ii) terminated repurchases of common stock for the foreseeable future; (iii) the Company's Board of Directors decided not to declare a dividend for the second, third and fourth quarters of 2020; (iv) voluntarily increased the interest reserve for securitized debt from the required $16.4 million (one quarter of estimated interest) to $32.8 million; (v) reduced discretionary costs, limited new hiring and reduced the use of independent contractors; (vi) temporarily furloughed certain team members across various functional groups at its restaurant support centers during 2020; (vii) deferred franchisee payment of royalty, advertising and other fees, and lease obligations for up to two months on a case-by-case basis; (viii) deferred franchisee development obligations for up to 15 months and franchisee remodel obligation until the end of 2022; (ix) engaged a national real estate firm to assist franchisees with landlord discussions regarding rent deferrals, abatements and other modifications to lease agreements; (x) negotiated deferrals and abatements for properties on which the Company was lessee and (xi) hired external consultants to work with franchisees in assessing their financial health and to better understand performance variability.

The severity of the continued impact of the COVID-19 pandemic on the Company's business will depend on a number of factors, including, but not limited to, how long the pandemic will last, whether/when recurrences of the virus may arise, what restrictions on in-restaurant dining may be enacted or re-enacted, the availability and acceptance of vaccines, the timing and extent of customer re-engagement with the Company's brands and, in general, what the short- and long-term impact on consumer discretionary spending the COVID-19 pandemic might have on the Company and the restaurant industry as a whole, all of which are uncertain and cannot be predicted. The Company's future results of operations and liquidity could be impacted adversely by the length of time dine-in restrictions are in place and the success of any initiatives or programs that the Company may undertake to address financial and operational challenges faced by itself and its franchisees. As such, the extent to which the COVID-19 pandemic may continue to materially impact the Company's financial condition, liquidity, or results of operations remains highly uncertain.

Concentration of Credit Risk

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

Accounts receivable are derived from revenues earned from franchisees and area licensees located primarily in the United States. Financing receivables arise from the financing of restaurant equipment, leases or franchise fees with the Company by IHOP franchisees. The Company is subject to a concentration of credit risk with respect to receivables from franchisees that own a large number of Applebee's or IHOP restaurants. As of December 31, 2020, two franchisees (one Applebee's franchisee and one franchisee with cross-brand ownership) operated a combined total of 830 Applebee's and IHOP restaurants in the United States, which comprised 26.0% of the total Applebee's and IHOP franchise and area license restaurants in the United States. Revenues from these two franchisees represented 17.1%, 17.4%, and 19.8% of total consolidated revenue for the years ended December 31, 2020, 2019 and 2018, respectively. One franchisee represented 11.0%, 10.6% and 11.9% of total consolidated revenue for the years ended December 31, 2020, 2019 and 2018, respectively. Receivables from these franchisees totaled $20.4 million and $14.4 million at December 31, 2020 and 2019, respectively.

Cash and Cash Equivalents

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


	December 31,
	2020		2019
	(In millions)
Money market funds	$	175.0	$	—
IHOP advertising funds and gift card programs	71.6		56.6
Other depository accounts	136.8		59.4
Total cash and cash equivalents	$	383.4	$	116.0

Restricted Cash

Current

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


	December 31,
	2020		2019
	(In millions)
Securitized debt reserves	$	27.0	$	38.3
Applebee's advertising funds	12.8		2.3
Other	0.1		0.1
Total current restricted cash	$	39.9	$	40.7

Non-current

Non-current restricted cash of $32.8 million and $15.7 million at December 31, 2020 and 2019, respectively, represents interest reserves set aside for the duration of the securitized debt. The required reserve is approximately one quarter's interest payment on the Company's securitized. The Company voluntarily increased the amount held in non-current cash to twice the required amount during the year ended December 31, 2020.

Property and Equipment

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


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

Long-Lived Assets

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

Recoverability of the Company's assets is measured by comparing the assets' carrying value to the undiscounted future cash flows expected to be generated over the assets' remaining useful life or remaining lease term, whichever is less. Total expected undiscounted future cash flows that are less than the carrying amount of the assets is an indicator of impairment. If it is decided that there has been an impairment, the carrying amount of the asset is written down to the estimated fair value as determined in accordance with U.S. GAAP governing fair value measurements. The primary method of estimating fair value is based on a discounted cash flow analysis. Any loss resulting from impairment is recognized as a charge against operations.

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

Goodwill and Intangible Assets

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

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

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

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

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

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

Revenue Recognition

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

Franchise Revenues

The Company owns and franchises the Applebee’s and IHOP restaurant concepts. 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 brand that do not directly transfer goods and services to the franchisee, but instead represent a single performance obligation, which is the transfer of the franchise license. The intellectual property subject to the franchise license is symbolic intellectual property as it does not have significant standalone functionality, and substantially all the utility is derived from its association with the Company’s past or ongoing activities. The nature of the Company’s promise in granting the franchise license is to provide the franchisee with access to the brand’s symbolic intellectual property over the term of the license. The services provided by the Company are highly interrelated with the franchise license and as such are considered to represent a single performance obligation.

The transaction price in a standard franchise arrangement for 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. Additionally, all domestic IHOP franchise agreements require franchisees to purchase proprietary pancake and waffle dry mix from the Company.

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

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

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

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

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

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

Any excess or deficiency of advertising fee revenue compared to advertising expenditures, is recognized in the fourth quarter of the Company's fiscal year. Any excess of revenue over expenditures is recognized only to the extent of previously recognized deficits. When advertising revenues exceed the related advertising expenses and there is no recovery of a previously recognized deficit of advertising revenues, advertising costs are accrued up to the amount of revenues.

Company Restaurant Revenues

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

Rental Revenues

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

Financing Revenues

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

Gift Card

The Company administers gift card programs for Applebee's and IHOP. The Company records a liability in the period in which a gift card is sold and recognizes costs associated with its administration of the gift card programs as prepaid assets when the costs are incurred. The liability and prepaid asset recorded on the Company's books are relieved when gift cards are redeemed. If redemption occurs at a franchisee-operated restaurant, the gift card revenue, net of costs, is remitted to the franchisee. The Company receives gift card breakage revenue only from gift cards redeemed at company-operated restaurants. Breakage revenue for gift cards redeemed at company-operated restaurants for the year ended December 31, 2020 was not material. Breakage revenue was not recorded for the years ended 2019 and 2018 as the Company did not have sufficient history from operating the restaurants on which to base an estimate for breakage.

Allowance for Credit Losses

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

Leases

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

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

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

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

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

Pre-opening Expenses

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

Advertising

Advertising fees included as franchise revenue for the years ended December 31, 2020, 2019 and 2018 were $201.5 million, $283.0 million and $268.3 million, respectively.

Advertising expense reflected in the Consolidated Statements of Comprehensive (Loss) Income includes contributions to the national advertising fund made by Applebee's and IHOP, local marketing advertising costs incurred by company-operated restaurants, and certain advertising costs incurred by the Company to benefit future franchise operations. Costs of advertising typically are expensed either as incurred or the first time the advertising takes place. Advertising expense included in company restaurant operations for the years ended December 31, 2020, 2019 and 2018 was $5.2 million, $6.1 million, and $0.3 million, respectively.

Fair Value Measurements

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

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

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

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

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

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

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


	December 31,
	2020		2019
	(In millions)
Face value of Series 2019-1 Fixed Rate Senior Secured Notes	$	1,296.8	$	1,300.0
Fair value of Series 2019-1 Fixed Rate Senior Secured Notes	$	1,259.5	$	1,326.3

Income Taxes

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

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

Stock-Based Compensation

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

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

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

Net (Loss) Income Per Share

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

Other Comprehensive (Loss) Income

For the years ended December 31, 2020, 2019 and 2018, the income tax benefit or provision allocated to items of other comprehensive (loss) income was not significant.

Treasury Stock

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

Dividends

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

Reporting Segments

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

Franchise Segment

As of December 31, 2020, the franchise operations reportable segment consisted of 1,642 restaurants operated by Applebee's franchisees in the United States, two United States territories and 11 countries outside the United States and 1,769 restaurants operated by IHOP franchisees and area licensees in the United States, two United States territories and 9 countries outside the United States. Franchise operations revenue consists primarily of royalties and advertising fees based on a percentage of the franchisee's gross sales, sales of proprietary products (primarily IHOP pancake and waffle dry mixes) and other franchise fees.

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

Rental Segment

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

Financing Segment

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

Company Segment

As of December 31, 2020, the Company operated 69 Applebee's restaurants that were acquired from a former franchisee in December 2018. The company segment presented in these financial statements consists of these 69 Applebee's restaurants in 2020 and 2019 and for three weeks in December of 2018. All company-operated restaurants were located in the United States. Company restaurant sales are retail sales at company-operated restaurants. Company restaurant expenses are operating expenses at company-operated restaurants and include food, beverage, labor, benefits, utilities, rent and other operating costs.

Accounting Standards Adopted Effective January 1, 2020

In February 2016, the Financial Accounting Standards Board (“FASB”) issued new guidance on the measurement of current expected credit losses (“CECL”) on financial instruments. The new guidance has replaced the incurred loss methodology of recognizing credit losses on financial instruments 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. The Company adopted this change in accounting principle as of the first day of the first fiscal quarter of 2020 using the modified retrospective method. Accordingly, financial information for periods prior to the date of initial application has not been adjusted.

Upon adoption of the new CECL guidance, the Company recognized an increase to its allowance for credit losses of $0.7 million. The Company recognized an adjustment to retained earnings upon adoption of $0.5 million, net of tax of $0.2 million.

Additional new accounting guidance became effective for the Company as of the beginning of fiscal 2020 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 December 2019, the FASB issued new guidance intended to simplify the accounting for income taxes, change the accounting for certain income tax transactions, and make other minor changes. The Company will be required to adopt the new guidance beginning with its first fiscal quarter of 2021; 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 but does not expect this standard to have a material effect on its financial statements. The Company did not adopt the standard early.

In March 2020 with an update in January 2021, the FASB issued guidance which provides optional expedients and exceptions for applying current U.S. GAAP to contracts, hedging relationships, and other transactions affected by the discontinuation of the London Interbank Offered Rate (“LIBOR”) or by another reference rate expected to be discontinued. The guidance can be adopted immediately and is applicable to contracts entered into on or before December 31, 2022. The Company is currently evaluating our contracts that reference LIBOR and the potential effects of adopting this new guidance. The Company is currently assessing the impact this guidance will have on its consolidated financial statements but does not expect this standard to have a material effect on its financial statements. The Company does not intend to adopt the standard early.

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

Revenue Disclosures

12 Months Ended

Dec. 31, 2020

Revenue from Contract with Customer [Abstract]

Revenue Disclosures

The following table disaggregates our franchise revenues by major type for the years ended December 31, 2020, 2019 and 2018:


	Year ended December 31,
	2020		2019		2018
	(In thousands)
Franchise Revenues:
Royalties	$	215,214	$	302,169	$	311,568
Advertising fees	201,494		283,015		268,294
Pancake and waffle dry mix sales and other	38,936		53,973		52,108
Franchise and development fees	13,809		12,029		11,964
Total franchise revenues	$	469,453	$	651,186	$	643,934

Accounts and other receivables related to franchise revenues as of December 31, 2020 and 2019 were $76.3 million (net of allowance of $11.4 million) and $63.5 million (net of allowance of $0.7 million), respectively, and were included in receivables, net in the Consolidated Balance Sheets.

Changes in the Company's contract liability for deferred franchise revenues during the year ended December 31, 2020 were as follows:


	Deferred Franchise Revenue (short- and long-term)
	(In thousands)
Balance at December 31, 2019	67,030
Recognized as revenues during the year ended December 31, 2020	(12,913)
Fees deferred during the year ended December 31, 2020	5,802
Balance at December 31, 2020	$	59,919

The balance of deferred franchise revenues as of December 31, 2020 is expected to be recognized as follows:


	(In thousands)
2021	$	7,682
2022	7,273
2023	6,758
2024	6,158
2025	5,372
Thereafter	26,676
Total	$	59,919

- Definition

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

+ References

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

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-Name Accounting Standards Codification
-Topic 606
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-Paragraph 10
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
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-Paragraph 15
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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+ Details

Current Expected Credit Losses

12 Months Ended

Dec. 31, 2020

Receivables [Abstract]

Current Expected Credit Losses

Prior to the adoption of CECL, the Company recorded incurred loss reserves against receivable balances based on current and historical information, with delinquency status being the primary indicator of a deterioration in credit quality. The recently adopted CECL reserve methodology requires companies to measure expected credit losses on financial instruments based on the total estimated amount to be collected over the lifetime of the instrument. Under the CECL model, reserves may be established against financial asset balances even if the risk of loss is remote or has not yet manifested itself.

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

Historical Losses

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

Current Conditions

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

Reasonable and Supportable Forecasts

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

Reversion to History

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

The Company considers its portfolio segments to be the following:

Accounts Receivable (Franchise-Related)

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

Gift Card Receivables

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

Notes Receivable

Notes receivable balances primarily relate to the conversion of certain Applebee's franchisee accounts receivable to notes receivable, cash loans to franchisees for working capital purposes, a note receivable in connection with the sale of IHOP company restaurants in June 2017, and IHOP franchise fee and other notes. The notes are typically collateralized by the franchise. The notes have a term from two to ten years and bear interest averaging 4.7% and 5.1% per annum at December 31, 2020 and 2019, respectively. Due to the risk inherent in Applebee's notes that were converted from previously delinquent franchisee accounts receivable balances, a significant portion of these notes have specific reserves recorded against them totaling $8.9 million as of December 31, 2020.

Equipment Leases Receivable

Equipment leases receivable also relate to IHOP franchise development activity prior to 2003. IHOP provided the financing for the leasing of the equipment. Equipment lease contracts are collateralized by the equipment in the restaurant. Equipment lease contracts are due in equal weekly installments, primarily bear interest averaging 9.8% and 9.9% per annum at December 31, 2020 and 2019, respectively. The term of an equipment lease contract coincides with the term of the corresponding restaurant building lease. The weighted average remaining life of the Company’s equipment leases is 5.5 years as of December 31, 2020. The estimated fair value of the equipment collateralizing these lease contracts are not deemed to be significant given the very seasoned and mature nature of this portfolio.

Direct Financing Leases Receivable

Direct financing lease receivables relate to IHOP franchise development activity prior to 2003 when IHOP typically leased or purchased the restaurant site, built and equipped the restaurant, then franchised the restaurant to a franchisee. IHOP provided the financing for leasing or subleasing the site. Direct financing leases at December 31, 2020, comprised 90 leases with a weighted average remaining life of 4.1 years, and relate to locations that IHOP is leasing from third parties and subleasing to franchisees. Where applicable, building leases and equipment contracts contain cross-default provisions wherein a default under one constitutes a default under all.

Distributor Receivables

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

Total receivables balances at December 31, 2020 and 2019 were as follows:


Receivables	2020		2019
	(In millions)
Accounts receivable	$	85.7	$	60.8
Gift card receivables	22.5		46.7

Notes receivable	18.6		28.9
Financing receivables:
Equipment leases receivable	43.9		56.3
Direct financing leases receivable	22.7		34.0
Franchise fee notes receivable	0.1		0.2
Other	6.0		7.3
	199.5		234.2
Less: allowance for doubtful accounts and notes receivable	(23.1)		(11.3)
	176.4		222.9
Less: current portion	(121.9)		(136.9)
Long-term receivables	$	54.5	$	86.0

Changes in the allowance for credit losses during the year ended December 31, 2020 were as follows:



	Accounts Receivable		Notes receivable, short-term		Notes receivable, long-term		Lease Receivables		Equipment Receivables		Other (1)		Total
	(In millions)
Balance, December 31, 2019	$	0.7	$	2.4	$	8.2	$	—	$	—	$	—	$	11.3
Increase due to CECL adoption	0.3		0.0		0.1		0.1		0.1		0.1		0.7
Bad debt expense for the year ended December 31, 2020	5.0		2.5		0.5		1.2		3.4		0.2		12.8
Advertising provision adjustment	5.4		(0.7)		(1.2)		—		—		—		3.5
Write-offs	(0.2)		(0.6)		(2.3)		(0.9)		(1.2)		—		(5.2)
Recoveries	0.0		—		—		0.0		—		—		—
Balance, December 31, 2020	$	11.2	$	3.6	$	5.3	$	0.4	$	2.3	$	0.3	$	23.1

(1) Primarily distributor receivables, gift card receivables and credit card receivables

The Company's primary credit quality indicator for all portfolio segments is delinquency. The delinquency status of receivables (other than accounts receivable, gift card receivables and distributor receivables) at December 31, 2020 was as follows:



	Notes receivable, short-term		Notes receivable, long-term		Lease Receivables		Equipment Receivables		Other (1)		Total
	(In millions)
Current	$	3.9	$	12.2	$	22.7	$	43.9	$	2.0	$	84.7
30-59 days	0.1		—		—		—		—		0.1
60-89 days	0.1		—		—		—		—		0.1
90-119 days	0.1		—		—		—		—		0.1
120+ days	2.3		—		—		—		—		2.3
Total	$	6.5	$	12.2	$	22.7	$	43.9	$	2.0	$	87.3

(1) Primarily credit card receivables

The year of origination of the Company's financing receivables is as follows:



	Notes receivable, short and long-term		Lease Receivables		Equipment Receivables		Total
	(In millions)
2020	$	1.5	$	1.5	$	—	$	3.0
2019	2.6		0.9		—		3.5
2018	8.1		—		—		8.1
2017	6.4		—		—		6.4
2016	—		1.3		—		1.3
Prior	0.1		19.0		43.9		63.0
Total	$	18.7	$	22.7	$	43.9	$	85.3

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

The following table summarizes the activity in the allowance for doubtful accounts and notes receivable for the years ended December 31, 2019 and 2018, prior to the adoption of CECL:


Allowance for Doubtful Accounts	(In millions)
Balance at December 31, 2017	$	22.2
Provision	10.3
Charge-offs	(15.3)

Balance at December 31, 2018	17.2
Provision	(0.4)
Charge-offs	(5.0)
Recoveries	(0.5)
Balance at December 31, 2019	$	11.3

Property and Equipment

12 Months Ended

Dec. 31, 2020

Property, Plant and Equipment [Abstract]

Property and Equipment

Property and equipment by category at December 31, 2020 and 2019 were as follows:


	2020		2019
	(In millions)
Leaseholds and improvements	$	221.7	$	235.4
Properties under finance leases	95.2		100.5
Equipment and fixtures	62.1		60.7
Buildings and improvements	55.4		56.6
Land	52.1		55.9
Internal-use software	37.0		34.7
Construction in progress	5.0		4.7
Property and equipment, gross	528.5		548.5
Less: accumulated depreciation and amortization	(340.5)		(332.1)
Property and equipment, net	$	188.0	$	216.4

The Company recorded depreciation expense on property and equipment of $31.9 million, $30.8 million and $22.1 million for the years ended December 31, 2020, 2019 and 2018, respectively.

Accumulated depreciation and amortization includes accumulated amortization for properties under finance leases in the amount of $49.6 million and $51.1 million at December 31, 2020 and 2019, respectively.

Goodwill

12 Months Ended

Dec. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

The significant majority of the Company's goodwill arose from the November 29, 2007 acquisition of Applebee's. Changes in the carrying amount of goodwill for the years ended December 31, 2020, 2019 and 2018 are as follows:


	Applebee's Franchise Unit		Applebee's Company Unit		IHOP Franchise Unit		Total
	(In millions)
Balance at December 31, 2017	$	328.4	$	—	$	10.8	$	339.2
Business acquisition	—		6.1		—		6.1
Balance at December 31, 2018	328.4		6.1		10.8		345.3
Purchase price adjustment related to business acquisition	—		(1.5)		—		(1.5)
Balance at December 31, 2019	328.4		4.6		10.8		343.9
Impairment loss	(92.2)		—		—		(92.2)

Balance at December 31, 2020	$	236.2	$	4.6	$	10.8	$	251.6

Gross and net carrying amounts of goodwill at December 31, 2020 and 2019 are as follows:


	December 31, 2020						December 31, 2019
	Gross		Accumulated Impairment Loss		Net		Gross		Accumulated Impairment Loss		Net
	(In millions)
Applebee's Franchise Unit	$	686.7	$	(450.5)	$	236.2	$	686.6	$	(358.2)	$	328.4
Applebee's Company Unit	4.6		—		4.6		4.6		—		4.6
IHOP Franchise Unit	10.8		—		10.8		10.8		—		10.8
Total	$	702.1	$	(450.5)	$	251.6	$	702.1	$	(358.2)	$	343.9

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

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

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

In the fourth quarter of 2020, the Company performed qualitative assessments of the goodwill of the Applebee's Franchise unit, the Applebee's Company unit and the IHOP franchise unit. In performing that analysis the Company considered, among other things, the Company's operating performance subsequent to May 2020 and what, if any, impact that performance had on the long-term forecast of future trends in sales, operating expenses, overhead expenses, depreciation, capital expenditures and changes in working capital that had been used in performing a quantitative impairment test as of May 2020. The Company also considered the market value of the Company's stock, absolute and relative to peers, the continuing favorable impact of the Tax Cuts and Jobs Act (the “Tax Act”) on future cash flows and general economic conditions and the impact these changes might have on an appropriate discount rate. As result of the qualitative test, the Company concluded it was more likely than not that the fair values of each unit exceeded the respective carrying amounts and therefore, a quantitative test of impairment was not necessary.

In the fourth quarter of 2019, the Company performed qualitative assessments of the goodwill of the Applebee's Franchise unit, the Applebee's Company unit and the IHOP franchise unit. In performing that analysis the Company considered, among other things, Applebee's key performance indicators during 2019 and what, if any, impact that performance had on the long-term forecast of future trends in sales, operating expenses, overhead expenses, depreciation, capital expenditures and changes in working capital that had been used in performing a quantitative impairment test in the third quarter of 2017. The Company also considered the current market price of its common stock, the favorable impact of the Tax Act on future cash flows and the impact these changes would have on an appropriate discount rate. As result of the qualitative test, the Company concluded it was more likely than not that the fair values of each unit exceeded the respective carrying amounts and therefore, a quantitative test of impairment was not necessary.

Other Intangible Assets

12 Months Ended

Dec. 31, 2020

Intangible Assets, Net (Excluding Goodwill) [Abstract]

Other Intangible Assets

The significant majority of the Company's other intangible assets arose from the November 29, 2007 acquisition of Applebee's. Changes in the carrying amount of intangible assets for the years ended December 31, 2020, 2019 and 2018 are as follows:


	Not Subject to Amortization		Subject to Amortization
	Tradename		Other		Franchising Rights		Reacquired Franchise Rights		Favorable Leaseholds		Total
	(In millions)
Balance at December 31, 2017	$	479.0	$	2.4	$	99.0	$	—	$	2.3	$	582.8

Amortization expense	—		—		(10.0)		(0.1)		—		(10.1)
Additions	—		0.3		—		11.6		1.3		13.2
Balance at December 31, 2018	479.0		2.7		89.0		11.5		3.6		585.9

Amortization expense	—		—		(10.0)		(1.7)		(0.1)		(11.7)
Additions	—		0.5		—		—		0.5		1.0
Balance at December 31, 2019	479.0		3.2		79.0		9.8		4.1		575.1
Impairment	(11.0)		—		—		(3.3)		(0.8)		(15.1)
Amortization expense	—		—		(10.0)		(0.8)		(0.1)		(10.9)
Additions	—		0.6		—		—		—		0.6
Balance at December 31, 2020	$	468.0	$	3.8	$	69.0	$	5.7	$	3.2	$	549.7

In December 2018, the Company acquired 69 Applebee's restaurants. In its allocation of the purchase price, the Company recorded $11.6 million of reacquired franchise rights as an intangible asset. Other additions to favorable leaseholds and other intangibles for the years ended December 31, 2020, 2019 and 2018 are individually insignificant.

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

Annual amortization expense for the next five fiscal years is estimated to be approximately $10.7 million per year. The weighted average life of the intangible assets subject to amortization was 19.9 years and 18.5 years at December 31, 2020 and 2019, respectively.

Gross and net carrying amounts of intangible assets subject to amortization at December 31, 2020 and 2019 are as follows:


	December 31, 2020						December 31, 2019
	Gross		Accumulated Amortization		Net		Gross		Accumulated Amortization		Net
	(In millions)
Franchising rights	$	200.0	$	(131.0)	$	69.0	$	200.0	$	(121.0)	$	79.0
Reacquired franchise rights	8.3		(2.6)		5.7		11.6		(1.8)		9.8
Favorable leaseholds	3.4		(0.2)		3.2		$	4.2	$	(0.1)	4.1
Total	$	211.7	$	(133.7)	$	78.0	$	215.8	$	(122.9)	$	92.9

In the fourth quarter of fiscal 2020 and 2019, the Company performed a qualitative assessment of the Applebee's tradename and concluded the fair value exceeded the carrying amount.

Long-Term Debt

12 Months Ended

Dec. 31, 2020

Debt Disclosure [Abstract]

Long-Term Debt

Long-term debt at December 31, 2020 and 2019 consists of the following components:


	2020		2019
	(In millions)
Series 2019-1 4.194% Fixed Rate Senior Secured Notes, Class A-2-I	$	698.3	$	700.0
Series 2019-1 4.723% Fixed Rate Senior Secured Notes, Class A-2-II	598.5		600.0

Series 2019-1 Variable Funding Senior Notes Class A-1, variable interest rate of 2.42% at December 31, 2020	220.0		—
Debt issuance costs	(11.8)		(11.8)
Long-term debt, net of debt issuance costs	1,505.0		1,288.2
Current portion of long-term debt	(13.0)		—
Long-term debt	$	1,492.0	$	1,288.2

Long-Term Debt

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

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

2019 Class A-2 Notes

The New Notes were issued under a Base Indenture, dated as of September 30, 2014, 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.

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. Exceeding the leverage ratio of 5.25x does not violate any covenant related to the New Notes.

The Company's leverage ratio exceeded 5.25x as of June 30, 2020 and has remained greater than 5.25x since then. As of December 31, 2020 the Company's leverage ratio was 7.20x. Accordingly, the Company began making principal payments in the fourth quarter of 2020, and will continue to make payments as long as the leverage ratio exceeds 5.25x.

The Company may voluntarily repay the New Notes at any time; however, if the Company repays the New Notes prior to certain dates, it would be required to pay make-whole premiums. As of December 31, 2020, the make-whole premium associated with voluntary prepayment of the Class A-2-I Notes was approximately $35 million; this amount declines each quarter to zero in June 2022. As of December 31, 2020, the make-whole premium associated with voluntary prepayment of the Class A-2-II Notes was approximately $74 million; this amount declines each quarter to zero in June 2024. The Company would also be subject to a make-whole premium in the event of a mandatory prepayment required following a Rapid Amortization Event or certain asset dispositions. The mandatory make-whole premium requirements are considered derivatives embedded in the New Notes that must be bifurcated for separate valuation. The Company estimated the fair value of these derivatives to be immaterial as of December 31, 2020, based on the probability-weighted discounted cash flows associated with either event.

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

2019 Class A-1 Notes

The Co-Issuers also entered into the Revolver that allows for drawings up to $225 million of variable funding notes and the issuance of letters of credit. The Revolver Notes were issued under the Indenture. Drawings and certain additional terms related to the Revolver 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 Guarantors”), the Company, as manager, certain conduit investors, financial institutions and funding agents, and Barclays Bank PLC, as provider of letters of credit, swingline lender and administrative agent (the “Purchase Agreement”).

The Revolver is governed, in part, by the Purchase Agreement and by certain generally applicable terms contained in the Indenture. The applicable interest rate under the Revolver 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 Revolver. There is a fee of 50 basis points on any unused portion of the Revolver. 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 the principal and interest on the Revolver 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.

Management Agreement

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

manager with respect to substantially all of the assets of the Securitization Entities (the “Securitized Assets”) . The primary responsibilities of the manager will be to perform certain franchising, distribution, intellectual property and operational functions on behalf of the Securitization Entities with respect to the Securitized Assets pursuant to the Management Agreement. The manager will be entitled to the payment of the weekly management fee, as set forth in the Management Agreement and will be subject to the liabilities set forth in the Management Agreement. The Company, as Manager, voluntarily began waiving its receipt of the weekly management fee in April 2020 and this waiver remains in place as of December 31, 2020.

Covenants and Restrictions

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

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

•DSCR less than 1.75x - Cash Flow Sweeping Event

•DSCR less than 1.20x - Rapid Amortization Event

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

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

The Company's DSCR for the reporting period ended December 31, 2020 was approximately 3.3x.

Use of Credit Facilities

In March 2020, the Co-Issuers drew down a total of $220.0 million of the amount then available under the Revolver. Although the Company had no immediate need for additional liquidity, the Co-Issuers drew on the Revolver to increase the Company’s financial flexibility in light of then-current market conditions and uncertainty due to the COVID-19 outbreak. It is anticipated that the principal and interest on the Revolver will be repaid in full on or prior to the quarterly payment date in June 2024, subject to two additional one-year extensions at the option of the Company upon the satisfaction of certain conditions. The current interest rate for borrowings under the Revolver is the three-month LIBOR rate plus 2.15% for 60% of the advances and the commercial paper funding rate of our conduit investor plus 2.15% for 40% of the advances. The interest rate on Revolver borrowings at December 31, 2020 was 2.42%. The weighted average interest rate on Revolver borrowings for the period outstanding during the year ended December 31, 2020 was 2.72%.

At December 31, 2020, $2.8 million was pledged against the Revolver for outstanding letters of credit, leaving $2.2 million of the Revolver available for borrowing. The letters of credit are used primarily to satisfy insurance-related collateral requirements.

Loss on Extinguishment of Debt

In connection with the repayment of the 2014 Class A-2 Notes, during the year ended December 31, 2019, 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 at the time of repayment. Prior to the extinguishment on June 5, 2019, amortization costs of $1.4 million and $3.4 million associated with the 2014 Class A-2 Notes was included in interest expense for the years ended December 31, 2019 and 2018 respectively.

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 estimated life of each tranche of the 2019 Class A-2 Notes. Amortization costs of $2.1 million and $1.2 million were included in interest expense for the years ended December 31, 2020 and 2019, respectively. Unamortized debt issuance costs of $9.6 million are reported as a direct reduction of the Class A-2 Notes in the Consolidated Balance Sheets.

The Company incurred costs of approximately $0.2 million in connection with the replacement of the 2018-1 Class A-1 Notes with the Revolver in 2019. These debt issuance costs have been added to the remaining unamortized costs of approximately $2.8 million related to the 2018 Class A-1 Notes, the total of which costs is now being amortized using the effective interest method over the estimated five-year life of the Revolver. Amortization costs of $0.6 million were included in interest expense for the year ended December 31, 2020. Unamortized debt issuance costs of $2.2 million are reported as a direct reduction of the Class A-1 Notes in the Consolidated Balance Sheets.

At December 31, 2019, $2.7 million of unamortized debt issuance costs related to the Revolver were classified as other long-term assets because there had been no borrowing against the Revolver.

Debt Refinancing Costs

In connection with the termination of the 2014 Purchase Agreement, the Company recognized as expense $0.9 million of unamortized debt issuance costs associated with the 2014 Variable Funding Notes during the year ended December 31, 2018. In addition, the Company incurred costs of $1.6 million associated with the evaluation of various alternatives for refinancing the Company's securitized indebtedness that were also charged to expense during the year ended December 31, 2018. These costs totaling $2.5 million were reported as “Debt refinancing costs” in the Consolidated Statements of Comprehensive (Loss) Income for the year ended December 31, 2018.

Maturities of Long-term Debt

Face-value maturities of long-term debt for each of the next five years, assuming the Company's leverage ratio remains greater than 5.25x and the Revolver is not extended beyond the 2019 Class A-1 Anticipated Repayment Date, are as follows:


	(In millions)
2021	$	13.0
2022	13.0
2023	13.0
2024	903.3
2025	6.0
Thereafter	568.5
Total	$	1,516.8

Financing Obligations

12 Months Ended

Dec. 31, 2020

Leases [Abstract]

Financing Obligations

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

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

As of December 31, 2020, the portion of the original Sale-Leaseback Transaction related to 158 of the 181 Properties has qualified as a sale by assignment of the lease obligation to a qualified franchisee or a release from the lessor. In accordance with the accounting described above, the property and equipment and financing obligations have each been cumulatively reduced by approximately $284.2 million.

As of December 31, 2020, future minimum lease payments under financing obligations during the initial terms of the leases related to the sale-leaseback transactions are as follows:


Fiscal Years	(In millions)
2021	$	4.5
2022	4.5
2023	4.4
2024	5.0
2025	5.0
Thereafter	34.8
Total minimum lease payments	58.2
Less: interest	(24.7)
Total financing obligations	33.5
Less: current portion(1)	(0.7)
Long-term financing obligations	$	32.8

______________________________________________________________________

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

Lease Disclosures

12 Months Ended

Dec. 31, 2020

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 provide for an initial term of 20 to 25 years, with most having one or more five-year renewal options. Leases related to Applebee's restaurants generally have an initial term of 10 to 20 years, with renewal terms of five to 20 years. Option periods were not included in determining liabilities and right-of-use assets related to operating leases. Approximately 320 of the Company's leases met the sales levels that required variable rent payments to the Company (as lessor), based on a percentage of restaurant sales in 2020. Approximately 50 of the leases met the sales levels that required variable rent payments by the Company (as lessee), based on a percentage of restaurant sales in 2020.

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 years ended December 31, 2020 and 2019 was as follows:


		Year Ended December 31,
		2020		2019
Finance lease cost:	(In millions)
Amortization of right-of-use assets		$	5.0	$	5.3
Interest on lease liabilities		6.6		7.7
Operating lease cost		109.8		106.2
Variable lease cost		0.8		2.7
Short-term lease cost		0.0		0.0
Sublease income		(96.8)		(110.9)
Lease cost		$	25.4	$	11.0

Future minimum lease payments under noncancelable leases as lessee as of December 31, 2020 were as follows:


	Finance Leases		Operating Leases
	(In millions)
2021	$	15.9	$	91.1
2022	14.5		84.7
2023	11.7		69.8
2024	9.7		64.3
2025	8.6		55.3
Thereafter	50.9		144.9
Total minimum lease payments	111.3		510.1
Less: interest/imputed interest	(31.7)		(95.2)
Total obligations	79.6		414.9
Less: current portion	(10.6)		(69.7)
Long-term lease obligations	$	69.0	$	345.2

The weighted average remaining lease term as of December 31, 2020 was 9.2 years for finance leases and 7.3 years for operating leases. The weighted average discount rate as of December 31, 2020 was 10.2% for finance leases and 5.7% for operating leases.

During the years ended December 31, 2020 and 2019, the Company made the following cash payments for leases:


		Year Ended December 31,
		2020		2019
	(In millions)
Principal payments on finance lease obligations		$	12.5	$	13.6
Interest payments on finance lease obligations		$	6.6	$	7.7
Payments on operating leases		$	101.1	$	91.9
Variable lease payments		$	0.7	$	2.5

The Company's income from operating leases for the years ended December 31, 2020 and 2019 was as follows:


		Year Ended December 31,
		2020		2019
	(In millions)
Minimum lease payments		$	97.2	$	102.8
Variable lease income		5.2		11.5
Total operating lease income		$	102.4	$	114.3

Future minimum payments to be received as lessor under noncancelable operating leases as of December 31, 2020 were as follows:



	(In millions)
2021	$	101.7
2022	98.8
2023	94.4
2024	86.0
2025	73.4
Thereafter	155.8
Total minimum rents receivable	$	610.1

The Company's income from direct financing leases at December 31, 2020 and 2019 was as follows:


		Year Ended December 31,
		2020		2019
	(In millions)
Interest income		$	3.4	$	5.0
Variable lease income		0.3		1.3
Total financing lease income		$	3.7	$	6.3

Future minimum payments to be received as lessor under noncancelable direct financing leases as of December 31, 2020 were as follows:



	(In millions)
2021	$	10.5
2022	7.7
2023	3.7
2024	1.5
2025	0.7
Thereafter	3.1
Total minimum rents receivable	27.2
Less: unearned income	(4.5)
Total direct financing leases receivable	22.7
Less: current portion	(8.4)
Long-term direct financing leases receivable	$	14.3

Commitments and Contingencies	12 Months Ended
Commitments and Contingencies	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Purchase Commitments In some instances, the Company enters into commitments to purchase advertising and other items. Most of these agreements are fixed price purchase commitments. At December 31, 2020, the outstanding purchase commitments were $90.0 million, the majority of which related to advertising. Lease Guarantees In connection with the sale of Applebee's restaurants to franchisees and other parties, the Company has, in certain cases, guaranteed or had potential continuing liability for lease payments. The Company had outstanding lease guarantees or was contingently liable for approximately $245.6 million and $257.2 million as of December 31, 2020 and 2019 respectively. These amounts represent the maximum potential liability of future payments under these leases. Excluding unexercised option periods, the Company's potential liability for future payments under these leases as of December 31, 2020 was $36.6 million. These leases have been assigned to the buyers and expire at the end of the respective lease terms, which range from 2021 through 2048. In the event of default, the indemnity and default clauses in our sale or assignment agreements govern our ability to pursue and recover damages incurred. No material liabilities for these guarantees have been recorded as of December 31, 2020. Litigation, Claims and Disputes The Company is subject to various lawsuits, governmental inspections, administrative proceedings, audits, and claims arising in the ordinary course of business. Some of these lawsuits purport to be class actions and/or seek substantial damages. The Company is required to record an accrual for litigation loss contingencies that are both probable and reasonably estimable. Legal fees and expenses associated with the defense of the Company's litigation are expensed as such fees and expenses are incurred. In the opinion of management, these matters are adequately covered by insurance or, if not so covered, are without merit or are of such a nature or involve amounts that would not have a material adverse impact on the Company's business or consolidated financial statements. Management regularly assesses the Company's insurance deductibles, analyzes litigation information with the Company's attorneys and evaluates its loss experience in connection with pending legal proceedings. While the Company does not presently believe that any of the legal proceedings to which the Company is currently a party will ultimately have a material adverse impact on the Company, there can be no assurance that the Company will prevail in all the proceedings the Company is party to, or that the Company will not incur material losses from them. Letters of Credit The Company provides letters of credit, primarily to various insurance carriers to collateralize obligations for outstanding claims. As of December 31, 2020, the Company had approximately $2.8 million of unused letters of credit outstanding that reduce the Company's available borrowing under its 2019 Class A-1 Notes. These letters of credit expire on various dates in 2021 and are automatically renewed for an additional year if no cancellation notice is submitted.

Stockholders' Deficit

12 Months Ended

Dec. 31, 2020

Equity [Abstract]

Stockholders' Deficit

Stock Repurchase Programs

In February 2019, the Company’s Board of Directors approved a stock repurchase program authorizing the Company to repurchase up to $200 million of the Company’s common stock (the “2019 Repurchase Program”) on an opportunistic basis from time to time in the open market or in privately negotiated transactions based on business, market, applicable legal requirements and other considerations. The 2019 Repurchase Program, as approved by the Board of Directors, does not require the repurchase of a specific number of shares and can be terminated at any time. In connection with the approval of the 2019 Repurchase Program, the Board of Directors terminated the prior repurchase program approved in October 2015 (the “2015 Repurchase Program”) which had authorized the Company to repurchase up to $150 million of the Company’s common stock.

A summary of shares repurchased under the 2019 Repurchase Program and the 2015 Repurchase Program, during the years ended December 31, 2020 and 2019, and cumulatively for each program, is as follows:


	Shares	Cost of shares
		(In millions)
2019 Repurchase Program:

Repurchased during the year ended December 31, 2020	459,899	$	26.5
Repurchased during the year ended December 31, 2019	1,237,698	$	103.3
Cumulative (life-of-program) repurchases	1,697,597	$	129.8
Remaining dollar value of shares that may be repurchased	n/a	$	70.2

2015 Repurchase Program:

Repurchased during the year ended December 31, 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

Dividends

On February 20, 2020, our Board of Directors approved payment of a cash dividend of $0.76 per share of common stock, payable at the close of business on April 3, 2020 to the stockholders of record as of the close of business on March 20, 2020. Dividends were not declared for the second, third and fourth quarters of 2020.

During the fiscal years ended December 31, 2020, 2019 and 2018, the Company declared and paid dividends on common stock as follows:


Year ended December 31, 2020	Declaration Date	Payment Date	Dividends declared per share		Dividends paid per share		Total dividends paid(1)
							(In millions)
Payment of prior year declaration	(2)	January 10, 2020	—		$	0.69	$	11.7
First quarter	February 20, 2020	April 3, 2020	$	0.76	0.76		12.7



Total			$	0.76	$	1.45	$	24.4


Year ended December 31, 2019	Declaration Date	Payment Date	Dividends declared per share		Dividends paid per share		Total dividends paid(1)
Payment of prior year declaration	(3)	January 4, 2019	—		$	0.63	$	11.4
First quarter	February 20, 2019	April 5, 2019	$	0.69	0.69		12.5
Second quarter	May 13, 2019	July 12, 2019	0.69		0.69		12.2
Third quarter	August 1, 2019	October 4, 2019	0.69		0.69		11.8
Fourth quarter	October 8, 2019	(2)	0.69		—		—
Total			$	2.76	$	2.70	$	47.9


Year ended December 31, 2018
Payment of prior year declaration	(4)	January 5, 2018	$	—	$	0.97	$	17.7
First quarter	February 14, 2018	April 6, 2018	$	0.63	0.63		11.5
Second quarter	May 14, 2018	July 6, 2018	0.63		0.63		11.4
Third quarter	August 2, 2018	October 5, 2018	0.63		0.63		11.4
Fourth quarter	October 6, 2018	(3)	0.63		—		—
Total			$	2.52	$	2.86	$	52.0

(1) Includes dividend equivalents paid on restricted stock units

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

(3) The fourth quarter 2018 dividend of $11.4 million was paid on January 4, 2019.

(4) The fourth quarter 2017 dividend of $17.7 million was paid on January 5, 2018.

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

Dividends recorded during the fiscal years ended December 31, 2020, 2019 and 2018 were as follows:


	Year Ended December 31,
	2020		2019		2018
	(In millions)
Dividends declared from retained earnings	$	12.7	$	48.1	$	—
Dividends declared from additional paid-in capital	$	—	$	—	$	44.7

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 vested stock options are exercised, when restricted stock awards are granted and when restricted stock units settle in stock upon vesting. The cost of treasury stock re-issued is determined on the first-in, first-out (“FIFO”) method. The Company re-issued 433,477 shares, 285,302 shares and 167,396 shares, respectively, during the years ended December 31, 2020, 2019 and 2018 at a total FIFO cost of $19.4 million, $12.5 million and $6.5 million, respectively.

Long-lived Tangible Asset Impairment and Closure Charges

12 Months Ended

Dec. 31, 2020

Restructuring Charges [Abstract]

Long-lived Tangible Asset Impairment and Closure Charges

Long-lived tangible asset impairment and closure charges for the years ended December 31, 2020, 2019 and 2018 were as follows:


	Year Ended December 31,
	December 31, 2020		2019		2018
	(In millions)
Long-lived tangible asset impairment	$	22.3	$	—	$	0.1
Closure charges	3.0		1.5		2.0

Total long-lived tangible asset impairment and closure charges	$	25.3	$	1.5	$	2.1

Long-lived Tangible Asset Impairment

The long-lived asset impairment for the year ended December 31, 2020 related to 29 Applebee's company-operated restaurants and 41 IHOP franchisee-operated restaurants for which the carrying amount exceeded the undiscounted cash flows. The primary method of estimating fair value is based on a discounted cash flow analysis. The Company also considers factors such as the number of years the restaurant has been in operation, sales trends, cash flow trends, remaining lease life and other factors which apply on a case-by-case basis. For locations owned by the Company, current purchase offers, if any, or valuations from independent third party sources are utilized, if available. The analysis is performed at the restaurant level for indicators of permanent impairment. The impairment recorded represents the difference between the carrying value and the estimated fair value. Approximately $15.1 million of the total impairment related to operating lease right-of-use assets that had been recorded in 2019 upon adoption of new lease accounting guidance codified in ASC 842, while $7.2 million related to impairments of land, building, leasehold improvements and finance leases. The impairments by individual property varied in amount, ranging from the largest single-property impairment of $1.3 million to less than $5,000.

There were no long-lived tangible asset impairment charges for the year ended December 31, 2019. Long-lived tangible asset impairment charges for the year ended December 31, 2018 were insignificant.

Closure Charges

Approximately $1.6 million of closure charges for the year ended December 31, 2020 related to seven IHOP restaurants closed during 2020, with the remainder primarily related to adjustments to the reserve for IHOP and Applebee's restaurants closed prior to 2020. Approximately $0.5 million of closure charges for the year ended December 31, 2019 related to two IHOP restaurants and one Applebee's restaurant closed during 2019, with the remainder primarily related to adjustments to the reserve for IHOP and Applebee's restaurants closed prior to 2019. Approximately $1.8 million of closure charges for the year ended December 31, 2018 related to one IHOP franchise restaurant closed during 2018, with the remainder primarily related to adjustments to the reserve for IHOP and Applebee's restaurants closed prior to 2018.

Stock-Based Incentive Plans

12 Months Ended

Dec. 31, 2020

Share-based Payment Arrangement [Abstract]

Stock-Based Incentive Plans

General Description

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

The Dine Brands Global, Inc. 2016 Stock Incentive Plan (the “2016 Plan”) was adopted in 2016 to permit the issuance of up to 3,750,000 shares of the Company’s common stock for incentive stock awards. The 2016 Plan was terminated upon adoption of the 2019 Plan, but there are stock options (vested and unvested) and unvested restricted stock and restricted stock units issued under the 2016 Plan that are outstanding as of December 31, 2020.

The DineEquity, Inc. 2011 Stock Incentive Plan (the “2011 Plan”) was adopted in 2011 to permit the issuance of up to 1,500,000 shares of the Company’s common stock for incentive stock awards. The 2011 Plan was terminated upon adoption of the 2016 Plan, but there are vested stock options issued under the 2011 Plan that are outstanding as of December 31, 2020.

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

Stock-Based Compensation Expense

From time to time, the Company has granted nonqualified stock options, restricted stock, cash-settled and stock-settled restricted stock units and performance units to officers, other employees and non-employee directors of the Company under the Plans. The nonqualified stock options generally vest ratably over a three-year period in one-third increments and have a maturity of ten years from the grant date. Options vest immediately upon a change in control of the Company, as defined in the Plans. Option exercise prices equal the closing price of the Company's common stock on the New York Stock Exchange on the date of grant. Restricted stock and restricted stock units are issued at no cost to the holder and vest over terms determined by the Compensation Committee of the Company's Board of Directors, generally three years from the date of grant or immediately

upon a change in control of the Company, as defined in the Plans. The Company either utilizes treasury stock or issues new shares from its authorized but unissued share pool when vested stock options are exercised, when restricted stock awards are granted and when restricted stock units settle in stock upon vesting.

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


	Year Ended December 31,
	2020		2019		2018
	(In millions)
Total stock-based compensation expense:
Equity classified awards expense	$	12.6	$	10.9	$	10.6
Liability classified awards expense	1.0		3.2		3.1
Total pretax stock-based compensation expense	13.6		14.1		13.7
Book income tax benefit	(3.4)		(3.5)		(3.5)
Total stock-based compensation expense, net of tax	$	10.2	$	10.6	$	10.2

As of December 31, 2020, total unrecognized compensation cost related to restricted stock and restricted stock units of $16.5 million and $2.6 million related to stock options is expected to be recognized over a weighted average period of approximately 1.2 years for restricted stock and restricted stock units and 1.3 years for stock options.

Equity Classified Awards - Stock Options

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

The Company granted 167,969 stock options during the year ended December 31, 2020 for which the fair value was estimated using a Black-Scholes option pricing model. The following table summarizes the assumptions used in the Black-Scholes model:


	2020			2019			2018
Risk free interest rate	1.2		%	2.5		%	2.6		%
Weighted average historical volatility	30.5		%	30.3		%	26.1		%
Dividend yield	3.5		%	2.8		%	3.6		%
Expected years until exercise	4.6			4.7			4.6

Weighted average fair value of options granted	$	17.53		$	21.93		$	11.94

The Company granted 25,330 performance-based stock options and 55,245 performance-based restricted stock units during the year ended December 31, 2018, with performance periods ranging from 36 to 40 months. The following summarizes the assumptions used in estimating the fair values:


	2018
Risk free interest rate	2.5		%
Weighted average historical volatility	34.4		%
Dividend yield	3.4		%
Expected years until exercise	3.0
Weighted average fair value of options granted	$	9.79
Weighted average fair value of restricted stock units granted	$	53.72

As of December 31, 2020, all of the stock options and 26,670 of the restricted stock units have been forfeited.

Stock option activity for the years ended December 31, 2020, 2019 and 2018 is summarized as follows:


	Number of Shares Under Option	Weighted Average Exercise Price Per Share		Weighted Average Remaining Contractual Term (in Years)	Aggregate Intrinsic Value (in Millions)
Outstanding at December 31, 2017	1,272,048	$	61.44
Granted	248,899	69.12
Exercised	(74,930)	52.43
Forfeited	(6,309)	68.80

Outstanding at December 31, 2018	1,439,708	63.21
Granted	132,832	98.97
Exercised	(211,352)	57.36
Forfeited	(106,745)	72.19
Expired	(37,005)	93.06
Outstanding at December 31, 2019	1,217,438	66.43
Granted	167,969	87.17
Exercised	(270,024)	76.01
Forfeited	(45,247)	86.39
Expired	(55,466)	107.78
Outstanding at December 31, 2020	1,014,670	$	64.16	6.4	$	7.0
Vested and Expected to Vest at December 31, 2020	996,118	$	63.71	6.4	$	7.0
Exercisable at December 31, 2020	415,914	$	70.43	5.0	$	0.9

The total intrinsic value of options exercised during the years ended December 31, 2020, 2019 and 2018 was $4.3 million, $6.9 million and $2.4 million, respectively.

Cash received from options exercised under all stock-based payment arrangements for the years ended December 31, 2020, 2019 and 2018 was $20.5 million, $12.0 million and $3.9 million, respectively. The actual tax benefit realized for the tax deduction from option exercises under the stock-based payment arrangements totaled $1.1 million, $1.8 million and $0.6 million, respectively, for the years ended December 31, 2020, 2019 and 2018.

Equity Classified Awards - Restricted Stock and Restricted Stock Units

Activity in equity classified awards of restricted stock and restricted stock units for the years ended December 31, 2020, 2019 and 2018 is as follows:


	Shares of Restricted Stock	Weighted Average Grant-Date Per Share Fair Value		Restricted Stock Units	Weighted Average Grant-Date Per Share Fair Value
Outstanding at December 31, 2017	275,191	$	65.97	303,348	$	28.39
Granted	92,466	69.20		86,990	57.21
Released	(74,253)	81.07		(15,737)	98.54
Forfeited	(26,162)	61.27		(72)	53.49
Outstanding at December 31, 2018	267,242	64.21		374,529	31.05
Granted	75,556	96.86		23,427	95.77
Released	(76,962)	76.25		(12,347)	90.34
Forfeited	(41,321)	67.20		(27,802)	34.53
Outstanding at December 31, 2019	224,515	70.52		357,807	30.35
Granted	163,522	73.68		30,997	77.33
Released	(95,211)	55.75		(33,234)	63.98
Forfeited	(38,495)	85.03		—	—
Outstanding at December 31, 2020	254,331	$	76.50	355,570	$	28.01

Liability Classified Awards - Cash-settled Restricted Stock Units

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


						Cash-Settled Restricted Stock Units
Outstanding at December 31, 2019						63,852
Granted						2,658
Released						(1,426)
Forfeited						(12,128)
Outstanding at December 31, 2020						52,956

For the years ended December 31, 2020, 2019 and 2018, $0.3 million, $1.6 million and, $0.8 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 to certain employees (“LTIP awards”). Annual LTIP awards vest over a three-year period and are determined using a multiplier from 0% to 200% of the target award based on the total stockholder return of the Company's common stock compared to the total stockholder returns of a peer group of companies. Though LTIP awards are only paid in cash, since the multiplier is primarily based on the price of the Company's common stock, the awards are considered stock-based compensation in accordance with U.S. GAAP and are classified as liabilities. For the years ended December 31, 2020, 2019 and 2018, expense of $0.7 million, $1.7 million and $2.3 million, respectively, was included in stock-based compensation expense related to the LTIP awards. At December 31, 2020 and 2019, liabilities of $2.1 million and $2.9 million, respectively, were included as accrued employee compensation and benefits in the Consolidated Balance Sheets.

Employee Benefit Plans	12 Months Ended
Employee Benefit Plans	Dec. 31, 2020
Retirement Benefits [Abstract]
Employee Benefit Plans	Employee Benefit Plans401(k) Savings and Investment PlanEffective January 1, 2013, the Company amended the Dine Brands Global, Inc. 401(k) Plan to (i) modify the Company matching formula and (ii) eliminate the one-year completed service requirement that previously had to be met to become eligible for Company matching contributions. As amended, the Company matches 100% of the first four percent of the employee's eligible compensation deferral and 50% of the next two percent of the employee's eligible compensation deferral. All contributions under this plan vest immediately. Company common stock is not an investment option for employees in the 401(k) Plan, other than shares transferred from a prior employee stock ownership plan. Substantially all of the administrative cost of the 401(k) plan is borne by the Company. The Company's matching contribution expense was $2.8 million, $3.0 million and $2.4 million for the years ended December 31, 2020, 2019 and 2018, respectively.

Income Taxes

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Income Taxes

The (benefit) provision for income taxes for the years ended December 31, 2020, 2019 and 2018 was as follows:


	Year Ended December 31,
	2020		2019		2018
(Benefit) provision for income taxes:	(In millions)
Current
Federal	$	11.0	$	31.2	$	33.6
State	3.1		6.5		6.4
Foreign	1.3		1.9		2.1
	15.4		39.6		42.1
Deferred
Federal	(17.3)		(3.8)		(7.8)
State	(2.7)		(1.7)		(4.0)
	(20.0)		(5.5)		(11.8)
(Benefit) provision for income taxes	$	(4.6)	$	34.1	$	30.3

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


	Year Ended December 31,
	2020		2019		2018
Statutory federal income tax rate	21.0	%	21.0	%	21.0	%
Non-deductibility of goodwill impairment	(17.9)		—		—

State and other taxes, net of federal tax benefit	1.2		2.8		3.6
Change in unrecognized tax benefits	2.0		1.8		3.3
Change in valuation allowance	(1.5)		0.5		0.4




Changes in tax rates and state tax laws	(0.4)		(0.5)		(1.6)
Change in accounting for excess tax deficiencies/benefits	0.1		(0.6)		0.1
General business credits	0.8		(1.3)		(0.2)
Other	(1.1)		0.9		0.8
Effective tax rate	4.2	%	24.6	%	27.4	%

The Company recognized $92.2 million impairment of goodwill during the second quarter of 2020 that was not deductible for federal income tax purposes and therefore had no associated tax benefit. The impairment of goodwill lowered the 2020 effective tax rate by 17.9% when compared to the U.S. statutory rate.

The difference in the 2019 overall effective tax rate from the U.S. statutory rate was primarily attributed to state taxes and unrecognized tax benefits offset by benefits associated with an increase in general business credits.

The Company applied a lower state tax rate to the deferred tax balances during fourth quarter of 2018, a result of the state legislative changes and the acquisition of 69 Applebee’s restaurants in December 2018. The change in the state tax rate applied to the deferred tax balances lowered the 2018 effective tax rate by 1.6%.

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 Internal Revenue Service examination of tax years 2014 to 2016 concluded during the fourth quarter of 2020, and the Company received a refund of $12.3 million, inclusive of interest income of $1.1 million. With few exceptions, the Company is no longer subject to federal tax examinations by tax authorities for years before 2017 and state or non-United States tax examinations by tax authorities for years before 2011. The Company believes that adequate reserves have been recorded relating to all matters contained in the tax periods open to examination.

Net deferred tax assets (liabilities) at December 31, 2020 and 2019 consisted of the following components:


	2020		2019
	(In millions)


Lease liability (1)	$	119.6	$	125.9
Employee compensation	7.5		9.2

Revenue recognition	36.6		32.8


Other	10.2		5.9
Deferred tax assets	173.9		173.8
Valuation allowance	(3.0)		(1.5)
Total deferred tax assets after valuation allowance	170.9		172.3
Recognition of franchise and equipment sales	(10.7)		(13.7)
Capitalization and depreciation (2)	(123.2)		(130.8)
Lease assets (1)	(114.2)		(125.8)



Other	(1.1)		(0.5)
Deferred tax liabilities	(249.2)		(270.8)
Net deferred tax liabilities	$	(78.3)	$	(98.5)

(1)Primarily related to the adoption of ASC 842

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

As of each reporting date, the Company’s management considers new evidence, both positive and negative, that could impact management’s view with regards to future realization of deferred tax assets. As of December 31, 2020, management determined it is more likely than not that the benefit from foreign tax credit carryforward and certain state deferred tax assets, including net operating loss carryforwards from the Applebee’s company-operated restaurants, will not be realized. In recognition of this risk, the Company provided a valuation allowance of $3.0 million.

The Company had gross operating loss carryforwards for state tax purposes of $13.3 million and $0.5 million as of December 31, 2020 and 2019, respectively. The net operating loss carryforwards begin to expire in 2032 if not utilized.

The total gross unrecognized tax benefit as of December 31, 2020 and 2019 was $2.2 million and $7.6 million, respectively, excluding interest, penalties and related income tax benefits. If recognized, these amounts would affect the Company's effective income tax rates.

The Company estimates the unrecognized tax benefits may decrease over the upcoming 12 months by an amount up to $0.8 million related to settlements with taxing authorities, statutes of limitations expirations and method changes. For the remaining liability, due to the uncertainties related to these tax matters, the Company is unable to make a reasonable estimate as to when cash settlement with a taxing authority will occur. A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:


	Year Ended December 31,
	2020		2019		2018
	(In millions)
Unrecognized tax benefit as of January 1	$	7.6	$	5.2	$	5.9
Changes for tax positions of prior years	—		2.1		3.8
Increases for tax positions related to the current year	0.2		0.5		0.4
Decreases relating to settlements and lapsing of statutes of limitations	(5.6)		(0.2)		(4.9)
Unrecognized tax benefit as of December 31	$	2.2	$	7.6	$	5.2

As of December 31, 2020, the accrued interest was $0.9 million and accrued penalties were less than $0.1 million, excluding any related income tax benefits. As of December 31, 2019, the accrued interest and penalties were $2.5 million and less than $0.1 million, respectively, excluding any related income tax benefits. The Company recognizes interest accrued related to unrecognized tax benefits and penalties as a component of the income tax provision recognized in the Consolidated Statements of Comprehensive (Loss) Income.

On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) was enacted in response to the COVID-19 pandemic. The CARES Act did not result in a material impact on our income tax benefit for the year ended December 31, 2020.

- Definition

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

+ References + Details

Net (Loss) Income Per Share

12 Months Ended

Dec. 31, 2020

Earnings Per Share [Abstract]

Net (Loss) Income Per Share

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


	Year Ended December 31,
	2020		2019		2018
	(In thousands, except per share data)
Numerator for basic and diluted (loss) income per common share:
Net (loss) income	$	(103,994)	$	104,346	$	80,354
Less: Net income allocated to unvested participating restricted stock	(420)		(3,532)		(2,711)
Net (loss) income available to common stockholders - basic	(104,414)		100,814		77,643
Effect of unvested participating restricted stock	—		33		16
Numerator - (loss) income available to common shareholders - diluted	$	(104,414)	$	100,847	$	77,659
Denominator:
Weighted average outstanding shares of common stock - basic	16,230		16,934		17,533
Effect of dilutive securities:
Stock options	—		311		256
Weighted average outstanding shares of common stock - diluted	16,230		17,245		17,789
Net (loss) income per common share:
Basic	$	(6.43)	$	5.95	$	4.43
Diluted	$	(6.43)	$	5.85	$	4.37

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

Segment Reporting

12 Months Ended

Dec. 31, 2020

Segment Reporting [Abstract]

Segment Reporting

Information on segments and a reconciliation of gross profit to income before income tax provision is as follows:


	Year Ended December 31,
	2020		2019		2018
Revenues			(In millions)
Franchise operations	$	469.5	$	651.2	$	643.9
Rental operations	105.9		120.7		121.9
Company restaurants	108.1		131.2		7.1
Financing operations	5.8		7.1		8.0
Total	$	689.3	$	910.2	$	780.9

Gross profit (loss), by segment
Franchise operations	$	230.5	$	338.4	$	313.3
Rental operations	16.4		29.9		31.2
Company restaurants	(3.5)		8.0		1.2
Financing operations	5.3		6.5		7.4
Total gross profit	248.7		382.8		353.1
Corporate and unallocated expenses, net	(357.3)		(244.3)		(242.5)
(Loss) income before income taxes	$	(108.6)	$	138.5	$	110.6

Interest expense
Rental operations	$	6.3	$	7.7	$	9.2
Company restaurants	2.7		2.1		0.1
Corporate	66.9		60.4		61.7
Total	$	75.9	$	70.2	$	71.0

Depreciation and amortization
Franchise operations	$	10.1	$	10.3	$	10.5
Rental operations	12.3		13.4		11.7
Company restaurants	7.0		6.4		0.4
Corporate	13.4		12.4		9.6
Total	$	42.8	$	42.5	$	32.2

Impairment of goodwill and intangible assets, closure and other impairment charges
Franchise operations	$	122.1	$	—	$	—
Company restaurants	10.5		1.5		2.1

Total	$	132.6	$	1.5	$	2.1

Capital expenditures
Franchise operations	$	—	$	0.6	$	—
Company restaurants	2.7		3.2		—
Corporate	8.2		15.6		14.3
Total	$	10.9	$	19.4	$	14.3

Goodwill (franchise segment)	$	251.6	$	343.9	$	345.3

Total assets
Franchise operations	$	997.7	$	1,116.2	$	1,152.1
Rental operations	451.5		503.8		255.6
Company restaurants	121.1		134.3		66.5
Financing operations	49.9		72.0		73.7
Corporate	454.7		223.2		226.8
Total	$	2,074.9	$	2,049.5	$	1,774.7

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8981-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Section 50
-Paragraph 32
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
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-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

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-Name Accounting Standards Codification
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-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8657-108599

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

+ Details

Selected Quarterly Financial Data (Unaudited)

12 Months Ended

Dec. 31, 2020

Quarterly Financial Information Disclosure [Abstract]

Selected Quarterly Financial Data (Unaudited)


	Revenues		Gross Profit		Net Income (Loss)		Net Income Per Share— Basic(2)		Net Income Per Share— Diluted(2)
	(In thousands, except per share amounts)
2020
1st Quarter	$	206,884	$	84,427	$	22,328	$	1.33	$	1.31
2nd Quarter(1)	109,712		30,122		(134,779)		(8.33)		(8.33)
3rd Quarter	176,643		66,784		10,018		0.60		0.60
4th Quarter	196,029		67,383		(1,561)		(0.10)		(0.10)
2019
1st Quarter	$	237,182	$	102,571	$	31,643	$	1.76	$	1.73
2nd Quarter	228,080		94,855		21,390		1.20		1.18
3rd Quarter	217,405		89,720		23,917		1.38		1.36
4th Quarter	227,511		95,668		27,396		1.61		1.59

______________________________________________________________________________________________________

(1) The Company recognized a pretax charge of $123.7 million for impairments of goodwill, intangible assets and long-lived assets in the second quarter of 2020. See Note 6 - Goodwill, Note 7 - Other Intangible Assets and Note 13 - Long-lived Tangible Asset Impairment and Closure Charges, of Notes to the Consolidated Financial Statements.

(2) The quarterly amounts of earnings per share may not add to the full year amount as each quarterly calculation is discrete from the full-year calculation.

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

12 Months Ended

Dec. 31, 2020

Accounting Policies [Abstract]

Principles of Consolidation

Fiscal Periods

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

Use of Estimates

Risks and Uncertainties

Concentration of Credit Risk

Cash and Cash Equivalents

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

Restricted Cash

Current


	December 31,
	2020		2019
	(In millions)
Securitized debt reserves	$	27.0	$	38.3
Applebee's advertising funds	12.8		2.3
Other	0.1		0.1
Total current restricted cash	$	39.9	$	40.7

Non-current

Property and Equipment


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

Long-Lived Assets

Goodwill and Intangible Assets

Revenue Recognition

Franchise Revenues

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

Company Restaurant Revenues

Rental Revenues

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

Financing Revenues

Gift Card

Allowance for Credit Losses

Leases

Pre-opening Expenses

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

Advertising

Advertising fees included as franchise revenue for the years ended December 31, 2020, 2019 and 2018 were $201.5 million, $283.0 million and $268.3 million, respectively.

Fair Value Measurements

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

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

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

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

Income Taxes

Stock-Based Compensation

Net (Loss) Income Per Share

Treasury Stock

Dividends

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

Reporting Segments

Franchise Segment

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

Rental Segment

Financing Segment

Company Segment

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

Accounting Standards Adopted Effective January 1, 2020

Newly Issued Accounting Standards Not Yet Adopted

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

12 Months Ended

Dec. 31, 2020

Accounting Policies [Abstract]

Schedule of Cash and Cash Equivalents

The components of cash and cash equivalents were as follows:


	December 31,
	2020		2019
	(In millions)
Money market funds	$	175.0	$	—
IHOP advertising funds and gift card programs	71.6		56.6
Other depository accounts	136.8		59.4
Total cash and cash equivalents	$	383.4	$	116.0

Restrictions on Cash and Cash Equivalents

The components of current restricted cash were as follows:


	December 31,
	2020		2019
	(In millions)
Securitized debt reserves	$	27.0	$	38.3
Applebee's advertising funds	12.8		2.3
Other	0.1		0.1
Total current restricted cash	$	39.9	$	40.7

Property and Equipment Depreciable Lives

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


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

Fair Value of Financial Instruments

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


	December 31,
	2020		2019
	(In millions)
Face value of Series 2019-1 Fixed Rate Senior Secured Notes	$	1,296.8	$	1,300.0
Fair value of Series 2019-1 Fixed Rate Senior Secured Notes	$	1,259.5	$	1,326.3

- Definition

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

+ References + Details

Revenue Disclosures (Tables)

12 Months Ended

Dec. 31, 2020

Revenue from Contract with Customer [Abstract]

Schedule of Disaggregation of Revenue

The following table disaggregates our franchise revenues by major type for the years ended December 31, 2020, 2019 and 2018:


	Year ended December 31,
	2020		2019		2018
	(In thousands)
Franchise Revenues:
Royalties	$	215,214	$	302,169	$	311,568
Advertising fees	201,494		283,015		268,294
Pancake and waffle dry mix sales and other	38,936		53,973		52,108
Franchise and development fees	13,809		12,029		11,964
Total franchise revenues	$	469,453	$	651,186	$	643,934

Schedule of Changes in Deferred Revenue

Changes in the Company's contract liability for deferred franchise revenues during the year ended December 31, 2020 were as follows:


	Deferred Franchise Revenue (short- and long-term)
	(In thousands)
Balance at December 31, 2019	67,030
Recognized as revenues during the year ended December 31, 2020	(12,913)
Fees deferred during the year ended December 31, 2020	5,802
Balance at December 31, 2020	$	59,919

Schedule of Remaining Performance Obligations

The balance of deferred franchise revenues as of December 31, 2020 is expected to be recognized as follows:


	(In thousands)
2021	$	7,682
2022	7,273
2023	6,758
2024	6,158
2025	5,372
Thereafter	26,676
Total	$	59,919

Current Expected Credit Losses (Tables)

12 Months Ended

Dec. 31, 2020

Receivables [Abstract]

Schedule of Receivables and Allowance for Doubtful Accounts


Receivables	2020		2019
	(In millions)
Accounts receivable	$	85.7	$	60.8
Gift card receivables	22.5		46.7

Notes receivable	18.6		28.9
Financing receivables:
Equipment leases receivable	43.9		56.3
Direct financing leases receivable	22.7		34.0
Franchise fee notes receivable	0.1		0.2
Other	6.0		7.3
	199.5		234.2
Less: allowance for doubtful accounts and notes receivable	(23.1)		(11.3)
	176.4		222.9
Less: current portion	(121.9)		(136.9)
Long-term receivables	$	54.5	$	86.0

The following table summarizes the activity in the allowance for doubtful accounts and notes receivable for the years ended December 31, 2019 and 2018, prior to the adoption of CECL:


Allowance for Doubtful Accounts	(In millions)
Balance at December 31, 2017	$	22.2
Provision	10.3
Charge-offs	(15.3)

Balance at December 31, 2018	17.2
Provision	(0.4)
Charge-offs	(5.0)
Recoveries	(0.5)
Balance at December 31, 2019	$	11.3

Financing Receivable, Allowance for Credit Loss

Changes in the allowance for credit losses during the year ended December 31, 2020 were as follows:



	Accounts Receivable		Notes receivable, short-term		Notes receivable, long-term		Lease Receivables		Equipment Receivables		Other (1)		Total
	(In millions)
Balance, December 31, 2019	$	0.7	$	2.4	$	8.2	$	—	$	—	$	—	$	11.3
Increase due to CECL adoption	0.3		0.0		0.1		0.1		0.1		0.1		0.7
Bad debt expense for the year ended December 31, 2020	5.0		2.5		0.5		1.2		3.4		0.2		12.8
Advertising provision adjustment	5.4		(0.7)		(1.2)		—		—		—		3.5
Write-offs	(0.2)		(0.6)		(2.3)		(0.9)		(1.2)		—		(5.2)
Recoveries	0.0		—		—		0.0		—		—		—
Balance, December 31, 2020	$	11.2	$	3.6	$	5.3	$	0.4	$	2.3	$	0.3	$	23.1

(1) Primarily distributor receivables, gift card receivables and credit card receivables

Financing Receivable, Past Due



	Notes receivable, short-term		Notes receivable, long-term		Lease Receivables		Equipment Receivables		Other (1)		Total
	(In millions)
Current	$	3.9	$	12.2	$	22.7	$	43.9	$	2.0	$	84.7
30-59 days	0.1		—		—		—		—		0.1
60-89 days	0.1		—		—		—		—		0.1
90-119 days	0.1		—		—		—		—		0.1
120+ days	2.3		—		—		—		—		2.3
Total	$	6.5	$	12.2	$	22.7	$	43.9	$	2.0	$	87.3

(1) Primarily credit card receivables

Financing Receivable Credit Quality Indicators

The year of origination of the Company's financing receivables is as follows:



	Notes receivable, short and long-term		Lease Receivables		Equipment Receivables		Total
	(In millions)
2020	$	1.5	$	1.5	$	—	$	3.0
2019	2.6		0.9		—		3.5
2018	8.1		—		—		8.1
2017	6.4		—		—		6.4
2016	—		1.3		—		1.3
Prior	0.1		19.0		43.9		63.0
Total	$	18.7	$	22.7	$	43.9	$	85.3

Property and Equipment (Tables)

12 Months Ended

Dec. 31, 2020

Property, Plant and Equipment [Abstract]

Schedule of Property and Equipment

Property and equipment by category at December 31, 2020 and 2019 were as follows:


	2020		2019
	(In millions)
Leaseholds and improvements	$	221.7	$	235.4
Properties under finance leases	95.2		100.5
Equipment and fixtures	62.1		60.7
Buildings and improvements	55.4		56.6
Land	52.1		55.9
Internal-use software	37.0		34.7
Construction in progress	5.0		4.7
Property and equipment, gross	528.5		548.5
Less: accumulated depreciation and amortization	(340.5)		(332.1)
Property and equipment, net	$	188.0	$	216.4

Goodwill - (Tables)

12 Months Ended

Dec. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill


	Applebee's Franchise Unit		Applebee's Company Unit		IHOP Franchise Unit		Total
	(In millions)
Balance at December 31, 2017	$	328.4	$	—	$	10.8	$	339.2
Business acquisition	—		6.1		—		6.1
Balance at December 31, 2018	328.4		6.1		10.8		345.3
Purchase price adjustment related to business acquisition	—		(1.5)		—		(1.5)
Balance at December 31, 2019	328.4		4.6		10.8		343.9
Impairment loss	(92.2)		—		—		(92.2)

Balance at December 31, 2020	$	236.2	$	4.6	$	10.8	$	251.6

Gross and net carrying amounts of goodwill at December 31, 2020 and 2019 are as follows:


	December 31, 2020						December 31, 2019
	Gross		Accumulated Impairment Loss		Net		Gross		Accumulated Impairment Loss		Net
	(In millions)
Applebee's Franchise Unit	$	686.7	$	(450.5)	$	236.2	$	686.6	$	(358.2)	$	328.4
Applebee's Company Unit	4.6		—		4.6		4.6		—		4.6
IHOP Franchise Unit	10.8		—		10.8		10.8		—		10.8
Total	$	702.1	$	(450.5)	$	251.6	$	702.1	$	(358.2)	$	343.9

Other Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2020

Intangible Assets, Net (Excluding Goodwill) [Abstract]

Other Intangible Assets Roll Forward

Changes in the carrying amount of intangible assets for the years ended December 31, 2020, 2019 and 2018 are as follows:


	Not Subject to Amortization		Subject to Amortization
	Tradename		Other		Franchising Rights		Reacquired Franchise Rights		Favorable Leaseholds		Total
	(In millions)
Balance at December 31, 2017	$	479.0	$	2.4	$	99.0	$	—	$	2.3	$	582.8

Amortization expense	—		—		(10.0)		(0.1)		—		(10.1)
Additions	—		0.3		—		11.6		1.3		13.2
Balance at December 31, 2018	479.0		2.7		89.0		11.5		3.6		585.9

Amortization expense	—		—		(10.0)		(1.7)		(0.1)		(11.7)
Additions	—		0.5		—		—		0.5		1.0
Balance at December 31, 2019	479.0		3.2		79.0		9.8		4.1		575.1
Impairment	(11.0)		—		—		(3.3)		(0.8)		(15.1)
Amortization expense	—		—		(10.0)		(0.8)		(0.1)		(10.9)
Additions	—		0.6		—		—		—		0.6
Balance at December 31, 2020	$	468.0	$	3.8	$	69.0	$	5.7	$	3.2	$	549.7

Schedule of Finite-Lived Intangible Assets by Major Class

Gross and net carrying amounts of intangible assets subject to amortization at December 31, 2020 and 2019 are as follows:


	December 31, 2020						December 31, 2019
	Gross		Accumulated Amortization		Net		Gross		Accumulated Amortization		Net
	(In millions)
Franchising rights	$	200.0	$	(131.0)	$	69.0	$	200.0	$	(121.0)	$	79.0
Reacquired franchise rights	8.3		(2.6)		5.7		11.6		(1.8)		9.8
Favorable leaseholds	3.4		(0.2)		3.2		$	4.2	$	(0.1)	4.1
Total	$	211.7	$	(133.7)	$	78.0	$	215.8	$	(122.9)	$	92.9

Long-Term Debt (Tables)

12 Months Ended

Dec. 31, 2020

Debt Disclosure [Abstract]

Schedule of Long-Term Debt Components

Long-term debt at December 31, 2020 and 2019 consists of the following components:


	2020		2019
	(In millions)
Series 2019-1 4.194% Fixed Rate Senior Secured Notes, Class A-2-I	$	698.3	$	700.0
Series 2019-1 4.723% Fixed Rate Senior Secured Notes, Class A-2-II	598.5		600.0

Series 2019-1 Variable Funding Senior Notes Class A-1, variable interest rate of 2.42% at December 31, 2020	220.0		—
Debt issuance costs	(11.8)		(11.8)
Long-term debt, net of debt issuance costs	1,505.0		1,288.2
Current portion of long-term debt	(13.0)		—
Long-term debt	$	1,492.0	$	1,288.2

Schedule of Maturities of Long-term Debt


	(In millions)
2021	$	13.0
2022	13.0
2023	13.0
2024	903.3
2025	6.0
Thereafter	568.5
Total	$	1,516.8

Financing Obligations (Tables)

12 Months Ended

Dec. 31, 2020

Leases [Abstract]

Schedule of Sale Leaseback Transactions

As of December 31, 2020, future minimum lease payments under financing obligations during the initial terms of the leases related to the sale-leaseback transactions are as follows:


Fiscal Years	(In millions)
2021	$	4.5
2022	4.5
2023	4.4
2024	5.0
2025	5.0
Thereafter	34.8
Total minimum lease payments	58.2
Less: interest	(24.7)
Total financing obligations	33.5
Less: current portion(1)	(0.7)
Long-term financing obligations	$	32.8

______________________________________________________________________

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

Lease Disclosures (Tables)

12 Months Ended

Dec. 31, 2020

Leases [Abstract]

Schedule of Lease Cost

The Company's lease cost for the years ended December 31, 2020 and 2019 was as follows:


		Year Ended December 31,
		2020		2019
Finance lease cost:	(In millions)
Amortization of right-of-use assets		$	5.0	$	5.3
Interest on lease liabilities		6.6		7.7
Operating lease cost		109.8		106.2
Variable lease cost		0.8		2.7
Short-term lease cost		0.0		0.0
Sublease income		(96.8)		(110.9)
Lease cost		$	25.4	$	11.0

Schedule of Operating Lease Liability Future Maturity

Future minimum lease payments under noncancelable leases as lessee as of December 31, 2020 were as follows:


	Finance Leases		Operating Leases
	(In millions)
2021	$	15.9	$	91.1
2022	14.5		84.7
2023	11.7		69.8
2024	9.7		64.3
2025	8.6		55.3
Thereafter	50.9		144.9
Total minimum lease payments	111.3		510.1
Less: interest/imputed interest	(31.7)		(95.2)
Total obligations	79.6		414.9
Less: current portion	(10.6)		(69.7)
Long-term lease obligations	$	69.0	$	345.2

Schedule of Lease Payments

During the years ended December 31, 2020 and 2019, the Company made the following cash payments for leases:


		Year Ended December 31,
		2020		2019
	(In millions)
Principal payments on finance lease obligations		$	12.5	$	13.6
Interest payments on finance lease obligations		$	6.6	$	7.7
Payments on operating leases		$	101.1	$	91.9
Variable lease payments		$	0.7	$	2.5

Schedule of Operating Lease Income

The Company's income from operating leases for the years ended December 31, 2020 and 2019 was as follows:


		Year Ended December 31,
		2020		2019
	(In millions)
Minimum lease payments		$	97.2	$	102.8
Variable lease income		5.2		11.5
Total operating lease income		$	102.4	$	114.3

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 December 31, 2020 were as follows:



	(In millions)
2021	$	101.7
2022	98.8
2023	94.4
2024	86.0
2025	73.4
Thereafter	155.8
Total minimum rents receivable	$	610.1

Schedule of Direct Finance Lease Income

The Company's income from direct financing leases at December 31, 2020 and 2019 was as follows:


		Year Ended December 31,
		2020		2019
	(In millions)
Interest income		$	3.4	$	5.0
Variable lease income		0.3		1.3
Total financing lease income		$	3.7	$	6.3

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 December 31, 2020 were as follows:



	(In millions)
2021	$	10.5
2022	7.7
2023	3.7
2024	1.5
2025	0.7
Thereafter	3.1
Total minimum rents receivable	27.2
Less: unearned income	(4.5)
Total direct financing leases receivable	22.7
Less: current portion	(8.4)
Long-term direct financing leases receivable	$	14.3

Stockholders' Deficit (Tables)

12 Months Ended

Dec. 31, 2020

Equity [Abstract]

Dividends Declared

During the fiscal years ended December 31, 2020, 2019 and 2018, the Company declared and paid dividends on common stock as follows:


Year ended December 31, 2020	Declaration Date	Payment Date	Dividends declared per share		Dividends paid per share		Total dividends paid(1)
							(In millions)
Payment of prior year declaration	(2)	January 10, 2020	—		$	0.69	$	11.7
First quarter	February 20, 2020	April 3, 2020	$	0.76	0.76		12.7



Total			$	0.76	$	1.45	$	24.4


Year ended December 31, 2019	Declaration Date	Payment Date	Dividends declared per share		Dividends paid per share		Total dividends paid(1)
Payment of prior year declaration	(3)	January 4, 2019	—		$	0.63	$	11.4
First quarter	February 20, 2019	April 5, 2019	$	0.69	0.69		12.5
Second quarter	May 13, 2019	July 12, 2019	0.69		0.69		12.2
Third quarter	August 1, 2019	October 4, 2019	0.69		0.69		11.8
Fourth quarter	October 8, 2019	(2)	0.69		—		—
Total			$	2.76	$	2.70	$	47.9


Year ended December 31, 2018
Payment of prior year declaration	(4)	January 5, 2018	$	—	$	0.97	$	17.7
First quarter	February 14, 2018	April 6, 2018	$	0.63	0.63		11.5
Second quarter	May 14, 2018	July 6, 2018	0.63		0.63		11.4
Third quarter	August 2, 2018	October 5, 2018	0.63		0.63		11.4
Fourth quarter	October 6, 2018	(3)	0.63		—		—
Total			$	2.52	$	2.86	$	52.0

(1) Includes dividend equivalents paid on restricted stock units

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

(3) The fourth quarter 2018 dividend of $11.4 million was paid on January 4, 2019.

(4) The fourth quarter 2017 dividend of $17.7 million was paid on January 5, 2018.

Dividends recorded during the fiscal years ended December 31, 2020, 2019 and 2018 were as follows:


	Year Ended December 31,
	2020		2019		2018
	(In millions)
Dividends declared from retained earnings	$	12.7	$	48.1	$	—
Dividends declared from additional paid-in capital	$	—	$	—	$	44.7

Schedule of Repurchase Agreements

A summary of shares repurchased under the 2019 Repurchase Program and the 2015 Repurchase Program, during the years ended December 31, 2020 and 2019, and cumulatively for each program, is as follows:


	Shares	Cost of shares
		(In millions)
2019 Repurchase Program:

Repurchased during the year ended December 31, 2020	459,899	$	26.5
Repurchased during the year ended December 31, 2019	1,237,698	$	103.3
Cumulative (life-of-program) repurchases	1,697,597	$	129.8
Remaining dollar value of shares that may be repurchased	n/a	$	70.2

2015 Repurchase Program:

Repurchased during the year ended December 31, 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

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

12 Months Ended

Dec. 31, 2020

Restructuring Charges [Abstract]

Schedule of Impairment and Closure Charges

Long-lived tangible asset impairment and closure charges for the years ended December 31, 2020, 2019 and 2018 were as follows:


	Year Ended December 31,
	December 31, 2020		2019		2018
	(In millions)
Long-lived tangible asset impairment	$	22.3	$	—	$	0.1
Closure charges	3.0		1.5		2.0

Total long-lived tangible asset impairment and closure charges	$	25.3	$	1.5	$	2.1

Stock-Based Incentive Plans (Tables)

12 Months Ended

Dec. 31, 2020

Share-based Payment Arrangement [Abstract]

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

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


	Year Ended December 31,
	2020		2019		2018
	(In millions)
Total stock-based compensation expense:
Equity classified awards expense	$	12.6	$	10.9	$	10.6
Liability classified awards expense	1.0		3.2		3.1
Total pretax stock-based compensation expense	13.6		14.1		13.7
Book income tax benefit	(3.4)		(3.5)		(3.5)
Total stock-based compensation expense, net of tax	$	10.2	$	10.6	$	10.2

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


	2020			2019			2018
Risk free interest rate	1.2		%	2.5		%	2.6		%
Weighted average historical volatility	30.5		%	30.3		%	26.1		%
Dividend yield	3.5		%	2.8		%	3.6		%
Expected years until exercise	4.6			4.7			4.6

Weighted average fair value of options granted	$	17.53		$	21.93		$	11.94

The following summarizes the assumptions used in estimating the fair values:


	2018
Risk free interest rate	2.5		%
Weighted average historical volatility	34.4		%
Dividend yield	3.4		%
Expected years until exercise	3.0
Weighted average fair value of options granted	$	9.79
Weighted average fair value of restricted stock units granted	$	53.72

Schedule of Share-based Compensation, Stock Options, Activity

Stock option activity for the years ended December 31, 2020, 2019 and 2018 is summarized as follows:


	Number of Shares Under Option	Weighted Average Exercise Price Per Share		Weighted Average Remaining Contractual Term (in Years)	Aggregate Intrinsic Value (in Millions)
Outstanding at December 31, 2017	1,272,048	$	61.44
Granted	248,899	69.12
Exercised	(74,930)	52.43
Forfeited	(6,309)	68.80

Outstanding at December 31, 2018	1,439,708	63.21
Granted	132,832	98.97
Exercised	(211,352)	57.36
Forfeited	(106,745)	72.19
Expired	(37,005)	93.06
Outstanding at December 31, 2019	1,217,438	66.43
Granted	167,969	87.17
Exercised	(270,024)	76.01
Forfeited	(45,247)	86.39
Expired	(55,466)	107.78
Outstanding at December 31, 2020	1,014,670	$	64.16	6.4	$	7.0
Vested and Expected to Vest at December 31, 2020	996,118	$	63.71	6.4	$	7.0
Exercisable at December 31, 2020	415,914	$	70.43	5.0	$	0.9

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

Activity in equity classified awards of restricted stock and restricted stock units for the years ended December 31, 2020, 2019 and 2018 is as follows:


	Shares of Restricted Stock	Weighted Average Grant-Date Per Share Fair Value		Restricted Stock Units	Weighted Average Grant-Date Per Share Fair Value
Outstanding at December 31, 2017	275,191	$	65.97	303,348	$	28.39
Granted	92,466	69.20		86,990	57.21
Released	(74,253)	81.07		(15,737)	98.54
Forfeited	(26,162)	61.27		(72)	53.49
Outstanding at December 31, 2018	267,242	64.21		374,529	31.05
Granted	75,556	96.86		23,427	95.77
Released	(76,962)	76.25		(12,347)	90.34
Forfeited	(41,321)	67.20		(27,802)	34.53
Outstanding at December 31, 2019	224,515	70.52		357,807	30.35
Granted	163,522	73.68		30,997	77.33
Released	(95,211)	55.75		(33,234)	63.98
Forfeited	(38,495)	85.03		—	—
Outstanding at December 31, 2020	254,331	$	76.50	355,570	$	28.01

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

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


						Cash-Settled Restricted Stock Units
Outstanding at December 31, 2019						63,852
Granted						2,658
Released						(1,426)
Forfeited						(12,128)
Outstanding at December 31, 2020						52,956

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

The (benefit) provision for income taxes for the years ended December 31, 2020, 2019 and 2018 was as follows:


	Year Ended December 31,
	2020		2019		2018
(Benefit) provision for income taxes:	(In millions)
Current
Federal	$	11.0	$	31.2	$	33.6
State	3.1		6.5		6.4
Foreign	1.3		1.9		2.1
	15.4		39.6		42.1
Deferred
Federal	(17.3)		(3.8)		(7.8)
State	(2.7)		(1.7)		(4.0)
	(20.0)		(5.5)		(11.8)
(Benefit) provision for income taxes	$	(4.6)	$	34.1	$	30.3

Schedule of Effective Income Tax Rate Reconciliation

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


	Year Ended December 31,
	2020		2019		2018
Statutory federal income tax rate	21.0	%	21.0	%	21.0	%
Non-deductibility of goodwill impairment	(17.9)		—		—

State and other taxes, net of federal tax benefit	1.2		2.8		3.6
Change in unrecognized tax benefits	2.0		1.8		3.3
Change in valuation allowance	(1.5)		0.5		0.4




Changes in tax rates and state tax laws	(0.4)		(0.5)		(1.6)
Change in accounting for excess tax deficiencies/benefits	0.1		(0.6)		0.1
General business credits	0.8		(1.3)		(0.2)
Other	(1.1)		0.9		0.8
Effective tax rate	4.2	%	24.6	%	27.4	%

Schedule of Deferred Tax Assets and Liabilities

Net deferred tax assets (liabilities) at December 31, 2020 and 2019 consisted of the following components:


	2020		2019
	(In millions)


Lease liability (1)	$	119.6	$	125.9
Employee compensation	7.5		9.2

Revenue recognition	36.6		32.8


Other	10.2		5.9
Deferred tax assets	173.9		173.8
Valuation allowance	(3.0)		(1.5)
Total deferred tax assets after valuation allowance	170.9		172.3
Recognition of franchise and equipment sales	(10.7)		(13.7)
Capitalization and depreciation (2)	(123.2)		(130.8)
Lease assets (1)	(114.2)		(125.8)



Other	(1.1)		(0.5)
Deferred tax liabilities	(249.2)		(270.8)
Net deferred tax liabilities	$	(78.3)	$	(98.5)

(1)Primarily related to the adoption of ASC 842

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

Summary of Income Tax Contingencies


	Year Ended December 31,
	2020		2019		2018
	(In millions)
Unrecognized tax benefit as of January 1	$	7.6	$	5.2	$	5.9
Changes for tax positions of prior years	—		2.1		3.8
Increases for tax positions related to the current year	0.2		0.5		0.4
Decreases relating to settlements and lapsing of statutes of limitations	(5.6)		(0.2)		(4.9)
Unrecognized tax benefit as of December 31	$	2.2	$	7.6	$	5.2

Net (Loss) Income Per Share (Tables)

12 Months Ended

Dec. 31, 2020

Earnings Per Share [Abstract]

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

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


	Year Ended December 31,
	2020		2019		2018
	(In thousands, except per share data)
Numerator for basic and diluted (loss) income per common share:
Net (loss) income	$	(103,994)	$	104,346	$	80,354
Less: Net income allocated to unvested participating restricted stock	(420)		(3,532)		(2,711)
Net (loss) income available to common stockholders - basic	(104,414)		100,814		77,643
Effect of unvested participating restricted stock	—		33		16
Numerator - (loss) income available to common shareholders - diluted	$	(104,414)	$	100,847	$	77,659
Denominator:
Weighted average outstanding shares of common stock - basic	16,230		16,934		17,533
Effect of dilutive securities:
Stock options	—		311		256
Weighted average outstanding shares of common stock - diluted	16,230		17,245		17,789
Net (loss) income per common share:
Basic	$	(6.43)	$	5.95	$	4.43
Diluted	$	(6.43)	$	5.85	$	4.37

Segment Reporting (Tables)

12 Months Ended

Dec. 31, 2020

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

Information on segments and a reconciliation of gross profit to income before income tax provision is as follows:


	Year Ended December 31,
	2020		2019		2018
Revenues			(In millions)
Franchise operations	$	469.5	$	651.2	$	643.9
Rental operations	105.9		120.7		121.9
Company restaurants	108.1		131.2		7.1
Financing operations	5.8		7.1		8.0
Total	$	689.3	$	910.2	$	780.9

Gross profit (loss), by segment
Franchise operations	$	230.5	$	338.4	$	313.3
Rental operations	16.4		29.9		31.2
Company restaurants	(3.5)		8.0		1.2
Financing operations	5.3		6.5		7.4
Total gross profit	248.7		382.8		353.1
Corporate and unallocated expenses, net	(357.3)		(244.3)		(242.5)
(Loss) income before income taxes	$	(108.6)	$	138.5	$	110.6

Interest expense
Rental operations	$	6.3	$	7.7	$	9.2
Company restaurants	2.7		2.1		0.1
Corporate	66.9		60.4		61.7
Total	$	75.9	$	70.2	$	71.0

Depreciation and amortization
Franchise operations	$	10.1	$	10.3	$	10.5
Rental operations	12.3		13.4		11.7
Company restaurants	7.0		6.4		0.4
Corporate	13.4		12.4		9.6
Total	$	42.8	$	42.5	$	32.2

Impairment of goodwill and intangible assets, closure and other impairment charges
Franchise operations	$	122.1	$	—	$	—
Company restaurants	10.5		1.5		2.1

Total	$	132.6	$	1.5	$	2.1

Capital expenditures
Franchise operations	$	—	$	0.6	$	—
Company restaurants	2.7		3.2		—
Corporate	8.2		15.6		14.3
Total	$	10.9	$	19.4	$	14.3

Goodwill (franchise segment)	$	251.6	$	343.9	$	345.3

Total assets
Franchise operations	$	997.7	$	1,116.2	$	1,152.1
Rental operations	451.5		503.8		255.6
Company restaurants	121.1		134.3		66.5
Financing operations	49.9		72.0		73.7
Corporate	454.7		223.2		226.8
Total	$	2,074.9	$	2,049.5	$	1,774.7

Selected Quarterly Financial Data (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2020

Quarterly Financial Information Disclosure [Abstract]

Schedule of Quarterly Financial Information


	Revenues		Gross Profit		Net Income (Loss)		Net Income Per Share— Basic(2)		Net Income Per Share— Diluted(2)
	(In thousands, except per share amounts)
2020
1st Quarter	$	206,884	$	84,427	$	22,328	$	1.33	$	1.31
2nd Quarter(1)	109,712		30,122		(134,779)		(8.33)		(8.33)
3rd Quarter	176,643		66,784		10,018		0.60		0.60
4th Quarter	196,029		67,383		(1,561)		(0.10)		(0.10)
2019
1st Quarter	$	237,182	$	102,571	$	31,643	$	1.76	$	1.73
2nd Quarter	228,080		94,855		21,390		1.20		1.18
3rd Quarter	217,405		89,720		23,917		1.38		1.36
4th Quarter	227,511		95,668		27,396		1.61		1.59

______________________________________________________________________________________________________

(2) The quarterly amounts of earnings per share may not add to the full year amount as each quarterly calculation is discrete from the full-year calculation.

The Company (Details)	Dec. 31, 2020 restaurantConcept restaurant uSState territory country
Franchisor Disclosure [Line Items]
Number of restaurant concepts \| restaurantConcept	2
IHOP
Franchisor Disclosure [Line Items]
Number of restaurants	1,772
Number of states in which entity operates \| uSState	50
Number of territories in which entity operates \| territory	2
Number of countries in which entity operates \| country	9
IHOP \| Franchised
Franchisor Disclosure [Line Items]
Number of restaurants	1,611
IHOP \| Licensing Agreements
Franchisor Disclosure [Line Items]
Number of restaurants	158
Applebee's
Franchisor Disclosure [Line Items]
Number of restaurants	1,711
Number of states in which entity operates \| uSState	49
Number of territories in which entity operates \| territory	2
Number of countries in which entity operates \| country	11
Applebee's \| Franchised
Franchisor Disclosure [Line Items]
Number of restaurants	1,642
Applebee's \| Licensing Agreements
Franchisor Disclosure [Line Items]
Number of restaurants	69

Basis of Presentation and Summary of Significant Accounting Policies - Additional Information (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020 USD ($) restaurant territory country franchisee reportableUnit revenueCategory segment	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($) restaurant	Dec. 31, 2017 USD ($)
Concentration Risk [Line Items]
Borrowings from revolving credit facility	$ 220,000	$ 0	$ 75,000
Interest reserve for secured debt	32,800	16,400
Non-current restricted cash	$ 32,800	15,700
Number of reporting units \| reportableUnit	3
Category of revenue categories \| revenueCategory	4
Advertising expense	$ 5,200	6,100	300
Number of operating segments \| segment	5
Number of reporting segments \| segment	4
Allowance for credit loss	$ 23,100	11,300
Stockholders' equity	354,651	241,774	202,273	$ 215,540
Income tax provision	(4,568)	34,127	30,254
Revolving Credit Facility
Concentration Risk [Line Items]
Borrowings from revolving credit facility	220,000
Line of credit facility, available remaining borrowing capacity	2,000
Retained Earnings
Concentration Risk [Line Items]
Stockholders' equity	$ 55,553	(61,653)	(10,414)	$ 69,940
Cumulative Effect, Period Of Adoption, Adjustment
Concentration Risk [Line Items]
Allowance for credit loss		700
Stockholders' equity		497	5,030
Cumulative Effect, Period Of Adoption, Adjustment \| Retained Earnings
Concentration Risk [Line Items]
Stockholders' equity		497	$ 5,030
Income tax provision		$ 200
Building improvements \| Minimum
Concentration Risk [Line Items]
Useful life of property and equipment	25 years
Building improvements \| Maximum
Concentration Risk [Line Items]
Useful life of property and equipment	40 years
Leaseholds and improvements \| Minimum
Concentration Risk [Line Items]
Useful life of property and equipment	3 years
Leaseholds and improvements \| Maximum
Concentration Risk [Line Items]
Useful life of property and equipment	40 years
Equipment and fixtures \| Minimum
Concentration Risk [Line Items]
Useful life of property and equipment	3 years
Equipment and fixtures \| Maximum
Concentration Risk [Line Items]
Useful life of property and equipment	5 years
Internal Use Software \| Minimum
Concentration Risk [Line Items]
Useful life of property and equipment	3 years
Internal Use Software \| Maximum
Concentration Risk [Line Items]
Useful life of property and equipment	10 years
Applebee's
Concentration Risk [Line Items]
Number of restaurants \| restaurant	1,711
Number of territories in which entity operates \| territory	2
Number of countries in which entity operates \| country	11
IHOP
Concentration Risk [Line Items]
Number of restaurants \| restaurant	1,772
Number of territories in which entity operates \| territory	2
Number of countries in which entity operates \| country	9
Franchised \| Applebee's
Concentration Risk [Line Items]
Number of restaurants \| restaurant	1,642
Franchised \| IHOP
Concentration Risk [Line Items]
Number of restaurants \| restaurant	1,611
Franchised Units or Licensing Agreements \| IHOP
Concentration Risk [Line Items]
Number of restaurants \| restaurant	1,769
Entity Operated Units \| Applebee's
Concentration Risk [Line Items]
Number of restaurants \| restaurant	69		69
Revenue from Rights Concentration Risk \| Largest Franchisees
Concentration Risk [Line Items]
Concentration risk by percentage	26.00%
Revenue from Rights Concentration Risk \| Sales Revenue, Net
Concentration Risk [Line Items]
Concentration risk by percentage	11.00%	10.60%	11.90%
Revenue from Rights Concentration Risk \| Sales Revenue, Net \| Largest Franchisees
Concentration Risk [Line Items]
Concentration risk by percentage	17.10%	17.40%	19.80%
Revenue from Rights Concentration Risk \| Accounts Receivable \| Largest Franchisees
Concentration Risk [Line Items]
Number of franchisees \| franchisee	2
Number of restaurants \| restaurant	830
Net accounts receivable	$ 20,400	$ 14,400
Revenue from Rights Concentration Risk \| Accounts Receivable \| Largest Franchisees \| Applebee's
Concentration Risk [Line Items]
Number of franchisees \| franchisee	1
Revenue from Rights Concentration Risk \| Accounts Receivable \| Largest Franchisees \| IHOP
Concentration Risk [Line Items]
Number of franchisees \| franchisee	1
Franchisor - Advertising Revenue
Concentration Risk [Line Items]
Advertising fees included as franchise revenue	$ 201,494	$ 283,015	$ 268,294

Basis of Presentation and Summary of Significant Accounting Policies - Schedule of Cash and Cash Equivalents (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	$ 383,369	$ 116,043
Money market funds
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	175,000	0
IHOP advertising funds and gift card programs
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	71,600	56,600
Other depository accounts
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	$ 136,800	$ 59,400

Basis of Presentation and Summary of Significant Accounting Policies - Components of Restricted Cash (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Restricted Cash and Cash Equivalents Items [Line Items]
Total current restricted cash	$ 39.9	$ 40.7
Securitized debt reserves
Restricted Cash and Cash Equivalents Items [Line Items]
Total current restricted cash	27.0	38.3
Applebee's advertising funds
Restricted Cash and Cash Equivalents Items [Line Items]
Total current restricted cash	12.8	2.3
Other
Restricted Cash and Cash Equivalents Items [Line Items]
Total current restricted cash	$ 0.1	$ 0.1

Basis of Presentation and Summary of Significant Accounting Policies - Fair Value of Financial Instruments (Details) - Level 2 - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Face value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed Rate Senior Secured Notes	$ 1,296.8	$ 1,300.0
Fair value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed Rate Senior Secured Notes	$ 1,259.5	$ 1,326.3

Revenue Disclosures - Disaggregation of Franchise Revenue by Major Type (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Franchisor
Disaggregation of Revenue [Line Items]
Revenue from contract with customer, excluding assessed tax	$ 469,453	$ 651,186	$ 643,934
Royalties
Disaggregation of Revenue [Line Items]
Revenue from contract with customer, excluding assessed tax	215,214	302,169	311,568
Advertising fees
Disaggregation of Revenue [Line Items]
Revenue from contract with customer, excluding assessed tax	201,494	283,015	268,294
Pancake and waffle dry mix sales and other
Disaggregation of Revenue [Line Items]
Revenue from contract with customer, excluding assessed tax	38,936	53,973	52,108
Franchise and development fees
Disaggregation of Revenue [Line Items]
Revenue from contract with customer, excluding assessed tax	$ 13,809	$ 12,029	$ 11,964

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 4
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130543-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130545-203045

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

+ Details

Revenue Disclosures - (Details) - Receivables From Franchise Revenue Transactions - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Billed and unbilled receivables	$ 76.3	$ 63.5
Billed and unbilled receivables, accumulated allowance for credit loss	$ 11.4	$ 0.7

Revenue Disclosures - Changes in the Company's contract liability for deferred franchise and development fees (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020 USD ($)
Change in Contract with Customer, Liability [Roll Forward]
Balance at December 31, 2019	$ 67,030
Recognized as revenues during the year ended December 31, 2020	(12,913)
Fees deferred during the year ended December 31, 2020	5,802
Balance at December 31, 2020	$ 59,919

Revenue Disclosures - Deferred revenue expected to be recognized (Details) $ in Thousands	Dec. 31, 2020 USD ($)
Revenue from Contract with Customer [Abstract]
Performance obligations expected to be satisfied	$ 59,919
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	$ 7,682
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	$ 7,273
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	$ 6,758
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	$ 6,158
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations expected to be satisfied, expected timing	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Revenue from Contract with Customer [Abstract]
Performance obligations expected to be satisfied	$ 5,372
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations expected to be satisfied, expected timing	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01
Revenue from Contract with Customer [Abstract]
Performance obligations expected to be satisfied	$ 26,676
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations expected to be satisfied, expected timing

Current Expected Credit Losses - Narrative (Details) $ in Millions	12 Months Ended
	Dec. 31, 2020 USD ($) lease	Dec. 31, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes receivable, interest rate	4.70%	5.10%
Operating lease, weighted average remaining lease term	7 years 3 months 18 days
Finance lease, weighted average remaining lease term	9 years 2 months 12 days
Minimum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes receivable, term	2 years
Maximum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes receivable, term	10 years
IHOP
Accounts, Notes, Loans and Financing Receivable [Line Items]
Average interest rate	9.80%	9.90%
Notes Receivable Portfolio Segment \| Applebee's
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts and financing receivable, allowance for credit loss \| $	$ 8.9
Equipment Receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Operating lease, weighted average remaining lease term	5 years 6 months
Direct financing leases receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of properties subject to ground leases \| lease	90
Finance lease, weighted average remaining lease term	4 years 1 month 6 days

Current Expected Credit Losses - Components of Receivables (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2020	Dec. 31, 2019
Accounts and Financing Receivable, after Allowance for Credit Loss, Current and Noncurrent [Abstract]
Accounts receivable			$ 85,700	$ 60,800
Gift card receivables			22,500	46,700
Notes receivable			18,600	28,900
Other			6,000	7,300
Receivables			199,500	234,200
Less: allowance for doubtful accounts and notes receivable	$ (17,200)	$ (17,200)	(23,100)	(11,300)
Receivables, net			176,400	222,900
Less: current portion			(121,897)	(136,869)
Long-term receivables			54,500	86,000
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	17,200	22,200
Provision	(400)	10,300
Charge-offs	(5,000)	(15,300)
Recoveries	(500)
Ending Balance	$ 11,300	$ 17,200
Equipment leases receivable
Accounts and Financing Receivable, after Allowance for Credit Loss, Current and Noncurrent [Abstract]
Financing receivable			43,900	56,300
Direct financing leases receivable
Accounts and Financing Receivable, after Allowance for Credit Loss, Current and Noncurrent [Abstract]
Financing receivable			22,700	34,000
Franchise fee notes receivable
Accounts and Financing Receivable, after Allowance for Credit Loss, Current and Noncurrent [Abstract]
Financing receivable			$ 100	$ 200

Current Expected Credit Losses - Changes in the Allowance for Credit Losses (Details) $ in Millions	12 Months Ended
	Dec. 31, 2020 USD ($)
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance, December 31, 2019	$ 11.3
Bad debt expense for the year ended December 31, 2020	12.8
Advertising provision adjustment	3.5
Write-offs	(5.2)
Recoveries	0.0
Balance, December 31, 2020	23.1
Cumulative Effect, Period Of Adoption, Adjustment
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance, December 31, 2019	0.7
Accounts Receivable
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance, December 31, 2019	0.7
Bad debt expense for the year ended December 31, 2020	5.0
Advertising provision adjustment	5.4
Write-offs	(0.2)
Recoveries	0.0
Balance, December 31, 2020	11.2
Accounts Receivable \| Cumulative Effect, Period Of Adoption, Adjustment
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance, December 31, 2019	0.3
Notes receivable, short-term
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance, December 31, 2019	2.4
Bad debt expense for the year ended December 31, 2020	2.5
Advertising provision adjustment	(0.7)
Write-offs	(0.6)
Recoveries	0.0
Balance, December 31, 2020	3.6
Notes receivable, short-term \| Cumulative Effect, Period Of Adoption, Adjustment
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance, December 31, 2019	0.0
Notes receivable, long-term
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance, December 31, 2019	8.2
Bad debt expense for the year ended December 31, 2020	0.5
Advertising provision adjustment	(1.2)
Write-offs	(2.3)
Recoveries	0.0
Balance, December 31, 2020	5.3
Notes receivable, long-term \| Cumulative Effect, Period Of Adoption, Adjustment
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance, December 31, 2019	0.1
Lease Receivables
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance, December 31, 2019	0.0
Bad debt expense for the year ended December 31, 2020	1.2
Advertising provision adjustment	0.0
Write-offs	(0.9)
Recoveries	0.0
Balance, December 31, 2020	0.4
Lease Receivables \| Cumulative Effect, Period Of Adoption, Adjustment
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance, December 31, 2019	0.1
Equipment Receivables
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance, December 31, 2019	0.0
Bad debt expense for the year ended December 31, 2020	3.4
Advertising provision adjustment	0.0
Write-offs	(1.2)
Recoveries	0.0
Balance, December 31, 2020	2.3
Equipment Receivables \| Cumulative Effect, Period Of Adoption, Adjustment
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance, December 31, 2019	0.1
Other
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance, December 31, 2019	0.0
Bad debt expense for the year ended December 31, 2020	0.2
Advertising provision adjustment	0.0
Write-offs	0.0
Recoveries	0.0
Balance, December 31, 2020	0.3
Other \| Cumulative Effect, Period Of Adoption, Adjustment
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance, December 31, 2019	$ 0.1

Current Expected Credit Losses - Delinquency Status of Receivables (Details) $ in Millions	Dec. 31, 2020 USD ($)
Financing Receivable, Past Due [Line Items]
Current	$ 84.7
Total	87.3
30-59 days
Financing Receivable, Past Due [Line Items]
Financing receivable, past due	0.1
60-89 days
Financing Receivable, Past Due [Line Items]
Financing receivable, past due	0.1
90-119 days
Financing Receivable, Past Due [Line Items]
Financing receivable, past due	0.1
120+ days
Financing Receivable, Past Due [Line Items]
Financing receivable, past due	2.3
Notes receivable, short-term
Financing Receivable, Past Due [Line Items]
Current	3.9
Total	6.5
Notes receivable, short-term \| 30-59 days
Financing Receivable, Past Due [Line Items]
Financing receivable, past due	0.1
Notes receivable, short-term \| 60-89 days
Financing Receivable, Past Due [Line Items]
Financing receivable, past due	0.1
Notes receivable, short-term \| 90-119 days
Financing Receivable, Past Due [Line Items]
Financing receivable, past due	0.1
Notes receivable, short-term \| 120+ days
Financing Receivable, Past Due [Line Items]
Financing receivable, past due	2.3
Notes receivable, long-term
Financing Receivable, Past Due [Line Items]
Current	12.2
Total	12.2
Notes receivable, long-term \| 30-59 days
Financing Receivable, Past Due [Line Items]
Financing receivable, past due	0.0
Notes receivable, long-term \| 60-89 days
Financing Receivable, Past Due [Line Items]
Financing receivable, past due	0.0
Notes receivable, long-term \| 90-119 days
Financing Receivable, Past Due [Line Items]
Financing receivable, past due	0.0
Notes receivable, long-term \| 120+ days
Financing Receivable, Past Due [Line Items]
Financing receivable, past due	0.0
Lease Receivables
Financing Receivable, Past Due [Line Items]
Current	22.7
Total	22.7
Lease Receivables \| 30-59 days
Financing Receivable, Past Due [Line Items]
Financing receivable, past due	0.0
Lease Receivables \| 60-89 days
Financing Receivable, Past Due [Line Items]
Financing receivable, past due	0.0
Lease Receivables \| 90-119 days
Financing Receivable, Past Due [Line Items]
Financing receivable, past due	0.0
Lease Receivables \| 120+ days
Financing Receivable, Past Due [Line Items]
Financing receivable, past due	0.0
Equipment Receivables
Financing Receivable, Past Due [Line Items]
Current	43.9
Total	43.9
Equipment Receivables \| 30-59 days
Financing Receivable, Past Due [Line Items]
Financing receivable, past due	0.0
Equipment Receivables \| 60-89 days
Financing Receivable, Past Due [Line Items]
Financing receivable, past due	0.0
Equipment Receivables \| 90-119 days
Financing Receivable, Past Due [Line Items]
Financing receivable, past due	0.0
Equipment Receivables \| 120+ days
Financing Receivable, Past Due [Line Items]
Financing receivable, past due	0.0
Other
Financing Receivable, Past Due [Line Items]
Current	2.0
Total	2.0
Other \| 30-59 days
Financing Receivable, Past Due [Line Items]
Financing receivable, past due	0.0
Other \| 60-89 days
Financing Receivable, Past Due [Line Items]
Financing receivable, past due	0.0
Other \| 90-119 days
Financing Receivable, Past Due [Line Items]
Financing receivable, past due	0.0
Other \| 120+ days
Financing Receivable, Past Due [Line Items]
Financing receivable, past due	$ 0.0

Current Expected Credit Losses - Year of Origination of Financing Receivables (Details) $ in Millions	Dec. 31, 2020 USD ($)
Financing Receivable, Credit Quality Indicator [Line Items]
2020	$ 3.0
2019	3.5
2018	8.1
2017	6.4
2016	1.3
Prior	63.0
Total	85.3
Notes receivable, short-term
Financing Receivable, Credit Quality Indicator [Line Items]
2020	1.5
2019	2.6
2018	8.1
2017	6.4
2016	0.0
Prior	0.1
Total	18.7
Lease Receivables
Financing Receivable, Credit Quality Indicator [Line Items]
2020	1.5
2019	0.9
2018	0.0
2017	0.0
2016	1.3
Prior	19.0
Total	22.7
Equipment Receivables
Financing Receivable, Credit Quality Indicator [Line Items]
2020	0.0
2019	0.0
2018	0.0
2017	0.0
2016	0.0
Prior	43.9
Total	$ 43.9

Property and Equipment - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Property, Plant and Equipment [Abstract]
Depreciation expense on property equipment	$ 31.9	$ 30.8	$ 22.1
Accumulated amortization for properties under finance lease	$ 49.6	$ 51.1

Property and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Property and Equipment [Line Items]
Property, plant, and equipment and finance lease right-of-use asset, gross	$ 528,500	$ 548,500
Less: accumulated depreciation and amortization	(340,500)	(332,100)
Property and equipment, net	187,977	216,420
Leaseholds and improvements
Property and Equipment [Line Items]
Property and equipment, gross	221,700	235,400
Properties under finance leases
Property and Equipment [Line Items]
Properties under finance leases	95,200	100,500
Equipment and fixtures
Property and Equipment [Line Items]
Property and equipment, gross	62,100	60,700
Buildings and improvements
Property and Equipment [Line Items]
Property and equipment, gross	55,400	56,600
Land
Property and Equipment [Line Items]
Property and equipment, gross	52,100	55,900
Internal-use software
Property and Equipment [Line Items]
Property and equipment, gross	37,000	34,700
Construction in progress
Property and Equipment [Line Items]
Property and equipment, gross	$ 5,000	$ 4,700

Goodwill - Changes In Carrying Amount of Goodwill (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Jun. 30, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Goodwill [Roll Forward]
Goodwill, beginning balance		$ 343,862	$ 345,300	$ 339,200
Business acquisition				6,100
Purchase price adjustment related to business acquisition			(1,500)
Impairment loss	$ (92,200)	(92,200)
Goodwill, ending balance		251,628	343,862	345,300
Applebee's \| Franchised
Goodwill [Roll Forward]
Goodwill, beginning balance		328,400	328,400	328,400
Business acquisition				0
Purchase price adjustment related to business acquisition			0
Impairment loss		(92,200)
Goodwill, ending balance		236,200	328,400	328,400
Applebee's \| Entity Operated Units
Goodwill [Roll Forward]
Goodwill, beginning balance		4,600	6,100	0
Business acquisition				6,100
Purchase price adjustment related to business acquisition			(1,500)
Impairment loss		0
Goodwill, ending balance		4,600	4,600	6,100
IHOP \| Franchised
Goodwill [Roll Forward]
Goodwill, beginning balance		10,800	10,800	10,800
Business acquisition				0
Purchase price adjustment related to business acquisition			0
Impairment loss		0
Goodwill, ending balance		$ 10,800	$ 10,800	$ 10,800

Goodwill - Gross and net carrying amounts of goodwill (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Goodwill [Line Items]
Gross	$ 702,100	$ 702,100
Accumulated Impairment Loss	(450,500)	(358,200)
Net	251,628	343,862	$ 345,300	$ 339,200
Franchised \| Applebee's
Goodwill [Line Items]
Gross	686,700	686,600
Accumulated Impairment Loss	(450,500)	(358,200)
Net	236,200	328,400	328,400	328,400
Franchised \| IHOP
Goodwill [Line Items]
Gross	10,800	10,800
Accumulated Impairment Loss	0	0
Net	10,800	10,800	10,800	10,800
Entity Operated Units \| Applebee's
Goodwill [Line Items]
Gross		4,600
Accumulated Impairment Loss	0	0
Net	$ 4,600	$ 4,600	$ 6,100	$ 0

Goodwill - Narrative (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
Goodwill - Narrative (Details) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2020
Goodwill [Line Items]
Goodwill, impairment loss	$ 92.2	$ 92.2
Franchised \| Applebee's
Goodwill [Line Items]
Goodwill, impairment loss		92.2
Entity Operated Units \| Applebee's
Goodwill [Line Items]
Goodwill, impairment loss		$ 0.0

Other Intangible Assets - Other Intangible Assets Roll Forward (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Indefinite-lived Intangible Assets [Roll Forward]
Finite lived, beginning of period	$ 92,900
Total other intangible assets, beginning of period	575,103	$ 585,900	$ 582,800
Amortization expense	(10,900)	(11,700)	(10,100)
Additions	600	1,000	13,200
Impairment	(15,100)
Finite lived, end of period	78,000	92,900
Total other intangible assets, end of period	549,671	575,103	585,900
Tradename \| Not Subject to Amortization
Indefinite-lived Intangible Assets [Roll Forward]
Indefinite lived, beginning of period	479,000	479,000	479,000
Impairment of intangible assets, indefinite-lived	(11,000)
Indefinite lived, end of period	468,000	479,000	479,000
Other \| Not Subject to Amortization
Indefinite-lived Intangible Assets [Roll Forward]
Indefinite lived, beginning of period	3,200	2,700	2,400
Additions	600	500	300
Indefinite lived, end of period	3,800	3,200	2,700
Franchising Rights \| Subject to Amortization
Indefinite-lived Intangible Assets [Roll Forward]
Finite lived, beginning of period	79,000	89,000	99,000
Amortization expense	(10,000)	(10,000)	(10,000)
Finite lived, end of period	69,000	79,000	89,000
Reacquired Franchise Rights \| Subject to Amortization
Indefinite-lived Intangible Assets [Roll Forward]
Finite lived, beginning of period	9,800	11,500	0
Amortization expense	(800)	(1,700)	(100)
Additions			11,600
Impairment of intangible assets, finite-lived	(3,300)
Finite lived, end of period	5,700	9,800	11,500
Favorable leaseholds
Indefinite-lived Intangible Assets [Roll Forward]
Additions			1,300
Favorable leaseholds \| Subject to Amortization
Indefinite-lived Intangible Assets [Roll Forward]
Finite lived, beginning of period	4,100	3,600	2,300
Amortization expense	(100)	(100)
Additions		500
Impairment of intangible assets, finite-lived	(800)
Finite lived, end of period	$ 3,200	$ 4,100	$ 3,600

Other Intangible Assets - Narrative (Details) $ in Millions	12 Months Ended
Other Intangible Assets - Narrative (Details) $ in Millions	Dec. 31, 2020 USD ($) restaurant	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($) restaurant
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, amortization expense including leaseholds	$ 10.9	$ 11.7	$ 10.1
Amortization expense 2021	10.7
Amortization expense 2022	10.7
Amortization expense 2023	10.7
Amortization expense 2024	10.7
Amortization expense 2025	$ 10.7
Weighted average life of intangible assets subject to amortization	19 years 10 months 24 days	18 years 6 months
Applebee's
Finite-Lived Intangible Assets [Line Items]
Number of restaurants \| restaurant	1,711
Entity Operated Units \| Applebee's
Finite-Lived Intangible Assets [Line Items]
Number of restaurants \| restaurant	69		69
Not Subject to Amortization \| Tradename
Finite-Lived Intangible Assets [Line Items]
Impairment of intangible assets, indefinite-lived	$ 11.0
Subject to Amortization \| Reacquired Franchise Rights
Finite-Lived Intangible Assets [Line Items]
Additions			$ 11.6
Impairment of intangible assets, finite-lived	3.3
Finite-lived intangible assets, amortization expense including leaseholds	$ 0.8	$ 1.7	$ 0.1

Other Intangible Assets - Schedule of Finite-lived Intangible Assets (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Gross	$ 211.7	$ 215.8
Accumulated Amortization	(133.7)	(122.9)
Net	78.0	92.9
Franchising rights
Finite-Lived Intangible Assets [Line Items]
Gross	200.0	200.0
Accumulated Amortization	(131.0)	(121.0)
Net	69.0	79.0
Reacquired Franchise Rights
Finite-Lived Intangible Assets [Line Items]
Gross	8.3	11.6
Accumulated Amortization	(2.6)	(1.8)
Net	5.7	9.8
Favorable leaseholds
Finite-Lived Intangible Assets [Line Items]
Gross	3.4	4.2
Accumulated Amortization	(0.2)	(0.1)
Net	$ 3.2	$ 4.1

Long-Term Debt - Schedule of Debt Components (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Jun. 05, 2019
Debt Instrument [Line Items]
Debt issuance costs	$ (11,800)	$ (11,800)
Long-term Debt	1,505,000	1,288,200
Current portion of long-term debt	(13,000)	0
Long-term debt, net, less current maturities	1,491,996	1,288,248
Series 2019-1 4.194% Fixed Rate Senior Secured Notes, Class A-2-I
Debt Instrument [Line Items]
Senior Notes	698,300	700,000
Debt issuance costs	$ (9,600)
Senior note interest rate	4.194%		4.194%
Series 2019-1 4.723% Fixed Rate Senior Secured Notes, Class A-2-II
Debt Instrument [Line Items]
Senior Notes	$ 598,500	600,000
Senior note interest rate	4.723%		4.723%
Series 2019-1 Variable Funding Senior Notes Class A-1, variable interest rate of 2.42% at December 31, 2020
Debt Instrument [Line Items]
Senior Notes	$ 220,000	$ 0
Debt issuance costs	$ (2,200)
Senior note interest rate	2.42%

Long-Term Debt - Additional Information (Details)	1 Months Ended		12 Months Ended
Long-Term Debt - Additional Information (Details)	Jun. 30, 2026	Mar. 31, 2020 USD ($)	Dec. 31, 2020 USD ($) termExtensionOption Rate	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Jun. 30, 2020 Rate	Jun. 05, 2019 USD ($)
Debt Instrument [Line Items]
Rapid amortization event \| Rate			120.00%
Manager termination event \| Rate			120.00%
Interest-only debt service coverage ratio, default event \| Rate			110.00%
Debt service coverage ratio \| Rate			330.00%
Gain (loss) on extinguishment of debt			$ 0	$ (8,276,000)	$ 0
Amortization of financing costs			2,100,000	1,200,000
Debt issuance costs, gross			12,900,000
Debt issuance costs			$ 11,800,000	11,800,000
Maximum
Debt Instrument [Line Items]
Cash sweeping event \| Rate			175.00%
Letter of Credit \| Eurodollar
Debt Instrument [Line Items]
Basis spread on variable rate			1.00%
Letter of Credit \| Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate			1.15%
Letter of Credit \| Federal Funds Rate
Debt Instrument [Line Items]
Basis spread on variable rate			0.50%
Series 2019-1 4.194% Fixed Rate Senior Secured Notes, Class A-2-I
Debt Instrument [Line Items]
Senior note interest rate			4.194%				4.194%
Debt instrument, face amount							$ 700,000,000
Ratio of indebtedness to net capital \| Rate			720.00%
Debt instrument, make-whole premium			$ 35,000,000
Debt issuance costs			$ 9,600,000
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 \| Forecast \| Ten Year United States Treasury Bill Rate
Debt Instrument [Line Items]
Basis spread on variable rate	2.15%
Series 2019-1 4.723% Fixed Rate Senior Secured Notes, Class A-2-II
Debt Instrument [Line Items]
Senior note interest rate			4.723%				4.723%
Debt instrument, face amount							$ 600,000,000
Debt instrument, make-whole premium			$ 74,000,000
Series 2019-1 4.723% Fixed Rate Senior Secured Notes, Class A-2-II \| Forecast \| Ten Year United States Treasury Bill Rate
Debt Instrument [Line Items]
Basis spread on variable rate	2.64%
Series 2014-1 4.277% Fixed Rate Senior Notes, Class A-2
Debt Instrument [Line Items]
Gain (loss) on extinguishment of debt			$ (8,300,000)
Amortization of financing costs				1,400,000	3,400,000
Series 2014-1 4.277% Fixed Rate Senior Notes, Class A-2 \| Maximum
Debt Instrument [Line Items]
Ratio of indebtedness to net capital \| Rate			525.00%			525.00%
Series 2019-1 Variable Funding Senior Notes Class A-1, variable interest rate of 2.42% at December 31, 2020
Debt Instrument [Line Items]
Senior note interest rate			2.42%
Debt issuance costs			$ 2,200,000
Series 2019-1 Variable Funding Senior Notes Class A-1, variable interest rate of 2.42% at December 31, 2020 \| Revolving Credit Facility
Debt Instrument [Line Items]
Senior note interest rate			2.42%
Number of extensions \| termExtensionOption			2
Extension period			1 year
Line of credit facility, maximum borrowing capacity			$ 225,000,000
Line of credit facility, commitment fee percentage			0.50%
Proceeds from long-term lines of credit		$ 220,000,000.0
Debt, weighted average interest rate			2.72%
Debt issuance costs				$ 2,700,000
Series 2019-1 Variable Funding Senior Notes Class A-1, variable interest rate of 2.42% at December 31, 2020 \| Revolving Credit Facility \| Eurodollar
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 2.42% at December 31, 2020 \| Revolving Credit Facility \| London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate			2.15%
Line of credit facility, percentage of advances drawn			60.00%
Series 2019-1 Variable Funding Senior Notes Class A-1, variable interest rate of 2.42% at December 31, 2020 \| Revolving Credit Facility \| Commercial Paper Funding Rate Of Conduit Investor
Debt Instrument [Line Items]
Basis spread on variable rate			2.15%
Line of credit facility, percentage of advances drawn			40.00%
Series 2019-1 Variable Funding Senior Notes Class A-1, variable interest rate of 2.42% at December 31, 2020 \| Letter of Credit
Debt Instrument [Line Items]
Basis spread on variable rate			2.15%
Number of extensions \| termExtensionOption			2
Extension period			1 year
Series 2018-1 Variable Funding Senior Notes Class A-1, variable interest rate of 4.93%
Debt Instrument [Line Items]
Debt instrument, term			5 years
Line of credit facility, current borrowing capacity			$ 2,200,000
Amortization of financing costs			600,000
Debt issuance costs			2,800,000
Incurred costs			200,000
Series 2018-1 Variable Funding Senior Notes Class A-1, variable interest rate of 4.93% \| Letter of Credit
Debt Instrument [Line Items]
Debt instrument, collateral amount			$ 2,800,000
Series 2014-1 Variable Funding Senior Notes Class A-1
Debt Instrument [Line Items]
Unamortized debt issuance costs					900,000
Costs incurred					1,600,000
Deferred finance costs					$ 2,500,000

Long-Term Debt - Schedule of Maturities of Long-Term Debt (Details) $ in Millions	Dec. 31, 2020 USD ($)
Debt Disclosure [Abstract]
2021	$ 13.0
2022	13.0
2023	13.0
2024	903.3
2025	6.0
Thereafter	568.5
Long-term Debt	$ 1,516.8

Financing Obligations (Details) $ in Thousands	1 Months Ended	12 Months Ended
Financing Obligations (Details) $ in Thousands	Jun. 30, 2008 termExtensionOption	Dec. 31, 2020 USD ($) realProperty	Dec. 31, 2019 USD ($)	Jun. 13, 2008 USD ($)	May 19, 2008 realProperty
Minimum Lease Payments, Sale Leaseback Transactions, Fiscal Year Maturity [Abstract]
2021		$ 15,900
2022		14,500
2023		11,700
2024		9,700
2025		8,600
Thereafter		50,900
Total minimum lease payments		111,300
Less: interest/imputed interest		(31,700)
Total obligations		79,600
Less: current portion		(10,600)
Finance lease obligations, less current maturities		$ 69,012	$ 77,393
Sale Leaseback Transaction Agreement for Properties
Sale Leaseback Transaction [Line Items]
Parcels of real property under sale leaseback transaction \| realProperty					181
Master Lease Agreement
Sale Leaseback Transaction [Line Items]
Parcels of real property under sale leaseback transaction \| realProperty		181
Gross proceeds of sale leaseback transaction				$ 337,200
Sale leaseback initial term	20 years
Number of options to extend initial leaseback term \| termExtensionOption	4
Extension period for options to extend sale leaseback initial term (in years)	5 years
Properties assigned to franchisee or released from lessor \| realProperty		158
Reduction in property and equipment and financing obligations as a result of sales transactions		$ 284,200
Sale-Leaseback Transactions
Minimum Lease Payments, Sale Leaseback Transactions, Fiscal Year Maturity [Abstract]
2021		4,500
2022		4,500
2023		4,400
2024		5,000
2025		5,000
Thereafter		34,800
Total minimum lease payments		58,200
Less: interest/imputed interest		(24,700)
Total obligations		33,500
Less: current portion		(700)
Finance lease obligations, less current maturities		$ 32,800

Lease Disclosures - Narrative (Details)	Dec. 31, 2020 restaurantConcept lease properties
Lessee, Lease, Description [Line Items]
Lessor, number of leases requiring additional rent payments based on a percentage of restaurant sales \| lease	320
Lessee, number of leases requiring additional rent payments based on a percentage of restaurant sales \| lease	50
Finance lease, weighted average remaining lease term	9 years 2 months 12 days
Operating lease, weighted average remaining lease term	7 years 3 months 18 days
Finance lease, weighted average discount rate, percent	10.20%
Operating lease, weighted average discount rate, percent	5.70%
Applebee's
Lessee, Lease, Description [Line Items]
Number of franchisee-operated restaurants	1
Number of properties leased	1
Number of company-operated restaurants located on leased real estate properties \| properties	69
IHOP
Lessee, Lease, Description [Line Items]
Number of franchisee-operated restaurants	600
Number of properties leased	60
Minimum \| Applebee's
Lessee, Lease, Description [Line Items]
Lessee, operating lease, term of contract	10 years
Lessee, operating lease, renewal term	5 years
Minimum \| IHOP
Lessee, Lease, Description [Line Items]
Lessee, operating lease, term of contract	20 years
Lessee, operating lease, renewal term	1 year
Maximum \| Applebee's
Lessee, Lease, Description [Line Items]
Lessee, operating lease, term of contract	20 years
Lessee, operating lease, renewal term	20 years
Maximum \| IHOP
Lessee, Lease, Description [Line Items]
Lessee, operating lease, term of contract	25 years
Lessee, operating lease, renewal term	5 years

Lease Disclosures - Components of Lease Cost (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Amortization of right-of-use assets	$ 5.0	$ 5.3
Interest on lease liabilities	6.6	7.7
Operating lease cost	109.8	106.2
Variable lease cost	0.8	2.7
Short-term lease cost	0.0	0.0
Sublease income	(96.8)	(110.9)
Lease cost	$ 25.4	$ 11.0

Lease Disclosures - Future Minimum Lease Payments Under Noncancelable Leases as Lessee (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Finance Leases
2021	$ 15,900
2022	14,500
2023	11,700
2024	9,700
2025	8,600
Thereafter	50,900
Total minimum lease payments	111,300
Less: interest/imputed interest	(31,700)
Total obligations	79,600
Less: current portion	(10,600)
Long-term lease obligations	69,012	$ 77,393
Operating Leases
2021	91,100
2022	84,700
2023	69,800
2024	64,300
2025	55,300
Thereafter	144,900
Total minimum lease payments	510,100
Less: interest/imputed interest	(95,200)
Total obligations	414,900
Less: current portion	(69,672)	(72,815)
Long-term lease obligations	$ 345,163	$ 359,025

Lease Disclosures - Payment for Leases (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Principal payments on finance lease obligations	$ 12.5	$ 13.6
Interest payments on finance lease obligations	6.6	7.7
Payments on operating leases	101.1	91.9
Variable lease payments	$ 0.7	$ 2.5

Lease Disclosures - Components of Lease Income (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Minimum lease payments	$ 97.2	$ 102.8
Variable lease income	5.2	11.5
Total operating lease income	$ 102.4	$ 114.3

Lease Disclosures - Future Minimum Payments to be Received as Lessor Under Noncancelable Operating Leases (Details) $ in Millions	Dec. 31, 2020 USD ($)
Leases [Abstract]
2021	$ 101.7
2022	98.8
2023	94.4
2024	86.0
2025	73.4
Thereafter	155.8
Total minimum rents receivable	$ 610.1

Lease Disclosures - Schedule of Income From Direct Financing Leases (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Interest income	$ 3.4	$ 5.0
Variable lease income	0.3	1.3
Total financing lease income	$ 3.7	$ 6.3

Lease Disclosures - Future Minimum Payments to be Received as Lessor Under Noncancelable Direct Financing Leases (Details) $ in Millions	Dec. 31, 2020 USD ($)
Leases [Abstract]
2021	$ 10.5
2022	7.7
2023	3.7
2024	1.5
2025	0.7
Thereafter	3.1
Total minimum rents receivable	27.2
Less: unearned income	(4.5)
Total direct financing leases receivable	22.7
Less: current portion	(8.4)
Long-term direct financing leases receivable	$ 14.3

Commitments and Contingencies (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Loss Contingencies [Line Items]
Outstanding purchase commitments	$ 90.0
Lease guarantees, future minimum payments due	36.6
Series 2019-1 Variable Funding Senior Notes Class A-1, variable interest rate of 2.42% at December 31, 2020
Loss Contingencies [Line Items]
Letters of credit outstanding	2.8
Applebee's \| Property Lease Guarantee
Loss Contingencies [Line Items]
Outstanding lease guarantees	$ 245.6	$ 257.2

Stockholders' Deficit - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands										12 Months Ended
	Feb. 20, 2020	Oct. 08, 2019	Aug. 01, 2019	May 13, 2019	Feb. 20, 2019	Oct. 06, 2018	Aug. 02, 2018	May 14, 2018	Feb. 14, 2018	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Oct. 01, 2015
Class of Stock [Line Items]
Authorized amount					$ 200,000
Dividends declared per common share (in dollars per share)	$ 0.76	$ 0.69	$ 0.69	$ 0.69	$ 0.69	$ 0.63	$ 0.63	$ 0.63	$ 0.63	$ 0.76	$ 2.76	$ 2.52
Reissuance of treasury stock (in shares)										433,477	285,302	167,396
Reissuance of treasury stock										$ 20,522	$ 11,969	$ 3,928
Treasury Stock
Class of Stock [Line Items]
Reissuance of treasury stock (in shares)										433,000	285,000	167,000
Reissuance of treasury stock										$ 19,420	$ 12,490	$ 6,479
2015 Authorization
Class of Stock [Line Items]
Authorized amount													$ 150,000

Stockholders' Deficit - Share Repurchases (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Class of Stock [Line Items]
Stock repurchased during period, value	$ 26,527	$ 111,697	$ 34,929
2019 Repurchase Program
Class of Stock [Line Items]
Stock repurchased during period (in shares)	459,899	1,237,698
Stock repurchased during period, value	$ 26,500	$ 103,300
Cumulative amount of shares repurchased (in shares)	1,697,597
Cumulative payments for repurchase of common stock	$ 129,800
Remaining dollar value of shares that may be repurchased	$ 70,200
October 2015 Share Repurchase Program
Class of Stock [Line Items]
Stock repurchased during period (in shares)		110,499
Stock repurchased during period, value		$ 8,400
Cumulative amount of shares repurchased (in shares)		1,589,995
Cumulative payments for repurchase of common stock		$ 126,200

Stockholders' Deficit - Schedule of Dividends Declared (Details) - USD ($) $ / shares in Units, $ in Millions																				3 Months Ended							12 Months Ended
	Apr. 03, 2020	Feb. 20, 2020	Jan. 10, 2020	Oct. 08, 2019	Oct. 04, 2019	Aug. 01, 2019	Jul. 12, 2019	May 13, 2019	Apr. 05, 2019	Feb. 20, 2019	Jan. 04, 2019	Oct. 06, 2018	Oct. 05, 2018	Aug. 02, 2018	Jul. 06, 2018	May 14, 2018	Apr. 06, 2018	Feb. 14, 2018	Jan. 05, 2018	Mar. 31, 2020	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Equity [Abstract]
Dividends declared per common share (in dollars per share)		$ 0.76		$ 0.69		$ 0.69		$ 0.69		$ 0.69		$ 0.63		$ 0.63		$ 0.63		$ 0.63									$ 0.76	$ 2.76	$ 2.52
Dividends paid per common share (in dollars per share)	$ 0.76		$ 0.69		$ 0.69		$ 0.69		$ 0.69		$ 0.63		$ 0.63		$ 0.63		$ 0.63		$ 0.97								$ 1.45	$ 2.70	$ 2.86
Payments of dividends			$ 11.7								$ 11.4								$ 17.7	$ 12.7	$ 11.8	$ 12.2	$ 12.5	$ 11.4	$ 11.4	$ 11.5	$ 24.4	$ 47.9	$ 52.0

Stockholders' Deficit Dividends Declared on Common Stock or In Excess (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Dividends Payable [Line Items]
Dividends declared from retained earnings	$ 12,208	$ 47,095
Dividends declared from additional paid-in capital			$ 44,705
(Accumulated Deficit) Retained Earnings
Dividends Payable [Line Items]
Dividends declared from retained earnings	12,715	48,077	0
Additional Paid-in Capital
Dividends Payable [Line Items]
Dividends declared from retained earnings	(507)	(982)
Dividends declared from additional paid-in capital	$ 0	$ 0	$ 44,705

Long-lived Tangible Asset Impairment and Closure Charges (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Restructuring Charges [Abstract]
Long-lived tangible asset impairment	$ 22,300,000	$ 0	$ 100,000
Closure charges	3,000,000.0	1,500,000	2,000,000.0
Total long-lived tangible asset impairment and closure charges	$ 25,300,000	$ 1,500,000	$ 2,100,000

Long-lived Tangible Asset Impairment and Closure Charges - Narrative (Details)	12 Months Ended
	Dec. 31, 2020 USD ($) restaurant	Dec. 31, 2019 USD ($) restaurant	Dec. 31, 2018 USD ($) restaurant
Restructuring Cost and Reserve [Line Items]
Operating lease, impairment loss	$ 15,100,000
Long-lived tangible asset impairment	22,300,000	$ 0	$ 100,000
Closure charges	3,000,000.0	$ 1,500,000	2,000,000.0
IHOP
Restructuring Cost and Reserve [Line Items]
Closure charges	$ 1,600,000		$ 1,800,000
Number of restaurants subject to closure charges \| restaurant	7	2	1
IHOP and Applebee's
Restructuring Cost and Reserve [Line Items]
Closure charges		$ 500,000
Applebee's
Restructuring Cost and Reserve [Line Items]
Number of restaurants subject to closure charges \| restaurant		1
Maximum
Restructuring Cost and Reserve [Line Items]
Long-lived tangible asset impairment per asset	$ 1,300,000
Minimum
Restructuring Cost and Reserve [Line Items]
Long-lived tangible asset impairment per asset	5,000
Land, Building, Leasehold Improvements And Finance Leases
Restructuring Cost and Reserve [Line Items]
Long-lived tangible asset impairment	$ 7,200,000
Applebee's \| Entity Operated Units
Restructuring Cost and Reserve [Line Items]
Number of restaurants subject to asset impairment \| restaurant	29
IHOP \| Franchised
Restructuring Cost and Reserve [Line Items]
Number of restaurants subject to asset impairment \| restaurant	41

Stock-Based Incentive Plans Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	May 14, 2019	May 17, 2016	May 17, 2011
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	167,969	132,832	248,899
Restricted stock, granted (in shares)	2,658
Share-based payment award, options, exercises in period, intrinsic value	$ 4,300	$ 6,900	$ 2,400
Proceeds from stock options exercised	20,523	11,969	3,928
Tax benefit realized for tax deduction from option exercises	1,100	1,800	600
Share-based payment arrangement, expense	13,600	14,100	$ 13,700
Employee-related liabilities, current	21,237	$ 23,904
2019 Stock Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Company’s common stock for incentive stock awards (in shares)				2,050,000
DineEquity, Inc. 2016 Stock Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Company’s common stock for incentive stock awards (in shares)					3,750,000
DineEquity, Inc. 2011 Stock Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Company’s common stock for incentive stock awards (in shares)						1,500,000
Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost	$ 2,600
Unrecognized compensation cost, recognition period	1 year 3 months 18 days
Employee Stock Option \| Officers, Directors, and Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment award, expiration period	10 years
Restricted Stock and Restricted Stock Units \| Officers, Directors, and Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	3 years
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost	$ 16,500
Unrecognized compensation cost, recognition period	1 year 2 months 12 days
Restricted stock, granted (in shares)	30,997	23,427	86,990
Forfeited (in shares)	26,670
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based grants in Period			25,330
Restricted stock, granted (in shares)			55,245
Cash-settled Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment arrangement, expense	$ 300	$ 1,600	$ 800
LTIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	3 years
Share-based payment arrangement, expense	$ 700	1,700	$ 2,300
Employee-related liabilities, current	$ 2,100	$ 2,900
Minimum \| Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment award, expiration period			36 months
Minimum \| LTIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Multiplier for target award	0.00%
Maximum \| Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment award, expiration period			40 months
Maximum \| LTIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Multiplier for target award	200.00%

Stock-Based Incentive Plans Stock-Based Compensation Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Payment Arrangement [Abstract]
Equity classified awards expense	$ 12.6	$ 10.9	$ 10.6
Liability classified awards expense	1.0	3.2	3.1
Total pretax stock-based compensation expense	13.6	14.1	13.7
Book income tax benefit	(3.4)	(3.5)	(3.5)
Total stock-based compensation expense, net of tax	$ 10.2	$ 10.6	$ 10.2

Stock-Based Incentive Plans Equity Classified Awards Stock Options (Details) - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Payment Arrangement [Abstract]
Risk free interest rate	1.20%	2.50%	2.60%
Weighted average historical volatility	30.50%	30.30%	26.10%
Dividend yield	3.50%	2.80%	3.60%
Expected years until exercise	4 years 7 months 6 days	4 years 8 months 12 days	4 years 7 months 6 days
Weighted average fair value of options granted	$ 17.53	$ 21.93	$ 11.94

Stock-Based Incentive Plans Performance Based Valuation Assumptions (Details) - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk free interest rate	1.20%	2.50%	2.60%
Weighted average historical volatility	30.50%	30.30%	26.10%
Dividend yield	3.50%	2.80%	3.60%
Expected years until exercise	4 years 7 months 6 days	4 years 8 months 12 days	4 years 7 months 6 days
Weighted average fair value of options granted	$ 17.53	$ 21.93	$ 11.94
Weighted average fair value of restricted stock units granted		$ 53.72
Performance Based Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk free interest rate		2.50%
Weighted average historical volatility		34.40%
Dividend yield		3.40%
Expected years until exercise		3 years
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average fair value of options granted		$ 9.79

Stock-Based Incentive Plans Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Outstanding, beginning (in shares)	1,217,438	1,439,708	1,272,048
Granted (in shares)	167,969	132,832	248,899
Exercised (in shares)	(270,024)	(211,352)	(74,930)
Forfeited (in shares)	(45,247)	(106,745)	(6,309)
Expired (in shares)	(55,466)	(37,005)
Outstanding, ending (in shares)	1,014,670	1,217,438	1,439,708
Vested and expected to vest (in shares)	996,118
Exercisable (in shares)	415,914
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Weighted average share price, beginning (in dollars per share)	$ 66.43	$ 63.21	$ 61.44
Weighted average share price, granted (in dollars per share)	87.17	98.97	69.12
Weighted average share price, exercised (in dollars per share)	76.01	57.36	52.43
Weighted average share price, forfeited (in dollars per share)	86.39	72.19	68.80
Weighted average share price, expired (in dollars per share)	107.78	93.06
Weighted average share price, ending (in dollars per share)	64.16	$ 66.43	$ 63.21
Vested and expected to vest, weighted average exercise price (in dollars per share)	63.71
Exercisable, weighted average exercise price (in dollars per share)	$ 70.43
Options, outstanding, weighted average remaining contractual term	6 years 4 months 24 days
Share-based compensation arrangement by share-based payment award, options, vested and expected to vest, exercisable, weighted average remaining contractual term	6 years 4 months 24 days
Exercisable weighted average remaining contractual term	5 years
Options, outstanding, intrinsic value	$ 7.0
Options, vested and expected to vest, outstanding, aggregate intrinsic value	7.0
Options, exercisable, intrinsic value	$ 0.9

Stock-Based Incentive Plans Disclosure of Restricted Stock Units (Details) - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward]
Beginning of period (shares)	63,852
Granted (shares)	2,658
Released (shares)	(1,426)
Forfeited (shares)	(12,128)
End of period (shares)	52,956	63,852
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Granted, weighted average grant date fair value (in dollars per share)		$ 53.72
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward]
Beginning of period (shares)	224,515	267,242	275,191
Granted (shares)	163,522	75,556	92,466
Released (shares)	(95,211)	(76,962)	(74,253)
Forfeited (shares)	(38,495)	(41,321)	(26,162)
End of period (shares)	254,331	224,515	267,242
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Weighted average grant date fair value, beginning balance (in dollars per share)	$ 70.52	$ 64.21	$ 65.97
Granted, weighted average grant date fair value (in dollars per share)	73.68	96.86	69.20
Released, weighted average grant date fair value (in dollars per share)	55.75	76.25	81.07
Forfeited, weighted average grant date fair value (in dollars per share)	85.03	67.20	61.27
Weighted average grant date fair value, ending balance (in dollars per share)	$ 76.50	$ 70.52	$ 64.21
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward]
Beginning of period (shares)	357,807	374,529	303,348
Granted (shares)	30,997	23,427	86,990
Released (shares)	(33,234)	(12,347)	(15,737)
Forfeited (shares)	0	(27,802)	(72)
End of period (shares)	355,570	357,807	374,529
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Weighted average grant date fair value, beginning balance (in dollars per share)	$ 30.35	$ 31.05	$ 28.39
Granted, weighted average grant date fair value (in dollars per share)	77.33	95.77	57.21
Released, weighted average grant date fair value (in dollars per share)	63.98	90.34	98.54
Forfeited, weighted average grant date fair value (in dollars per share)	0	34.53	53.49
Weighted average grant date fair value, ending balance (in dollars per share)	$ 28.01	$ 30.35	$ 31.05

Stock-Based Incentive Plans Liability Classified Awards - Cash-settled Restricted Stock Units (Details) - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Beginning of period (shares)	63,852
Restricted stock, granted (in shares)	2,658
Released (shares)	(1,426)
Forfeited (shares)	(12,128)
End of period (shares)	52,956	63,852
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Weighted average fair value of restricted stock units granted (in dollars per share)		$ 53.72

Employee Benefit Plans (Details) - USD ($) $ in Millions		12 Months Ended
Employee Benefit Plans (Details) - USD ($) $ in Millions	Jan. 01, 2013	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Defined Contribution Plan Disclosure [Line Items]
Contributions made to 401(k)		$ 2.8	$ 3.0	$ 2.4
First Tier of Deferral
Defined Contribution Plan Disclosure [Line Items]
Percent of gross pay	100.00%
Percent of eligible deferral	4.00%
Second Tier of Deferral
Defined Contribution Plan Disclosure [Line Items]
Percent of gross pay	50.00%
Percent of eligible deferral	2.00%

Income Taxes - Provision (benefit) for income taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Current Income Tax Expense (Benefit), Continuing Operations [Abstract]
Federal	$ 11,000	$ 31,200	$ 33,600
State	3,100	6,500	6,400
Foreign	1,300	1,900	2,100
Current Income Tax Expense	15,400	39,600	42,100
Deferred Income Tax Expense (Benefit), Continuing Operations [Abstract]
Federal	(17,300)	(3,800)	(7,800)
State	(2,700)	(1,700)	(4,000)
Deferred income tax expense (benefit)	(20,049)	(5,494)	(11,847)
(Benefit) provision for income taxes	$ (4,568)	$ 34,127	$ 30,254

Income Taxes - Income tax rate reconciliation (Details)	12 Months Ended
Income Taxes - Income tax rate reconciliation (Details)	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Statutory federal income tax rate	21.00%	21.00%	21.00%
Non-deductibility of goodwill impairment	(17.90%)	0.00%	0.00%
State and other taxes, net of federal tax benefit	1.20%	2.80%	3.60%
Change in unrecognized tax benefits	2.00%	1.80%	3.30%
Change in valuation allowance	(1.50%)	0.50%	0.40%
Changes in tax rates and state tax laws	(0.40%)	(0.50%)	(1.60%)
Change in accounting for excess tax deficiencies/benefits	0.10%	(0.60%)	0.10%
Effective Income Tax Rate Reconciliation, Other Reconciling Items, Amount	0.80%	(1.30%)	(0.20%)
Other	(1.10%)	0.90%	0.80%
Effective tax rate	4.20%	24.60%	27.40%

Income Taxes - Income Taxes (Narrative) (Details) $ in Millions	3 Months Ended	12 Months Ended
	Jun. 30, 2020 USD ($)	Dec. 31, 2020 USD ($) restaurant	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($) restaurant	Dec. 31, 2017 USD ($)
Income Tax Examination [Line Items]
Goodwill, impairment loss	$ 92.2	$ 92.2
Non-deductibility of goodwill impairment		17.90%	0.00%	0.00%
Changes in tax rates and state tax laws		0.40%	0.50%	1.60%
Proceeds from income tax refunds		$ 12.3
Interest income		1.1
Deferred tax assets, foreign tax credit carryforward		3.0
Operating loss carryforwards		13.3	$ 0.5
Unrecognized tax benefits		2.2	7.6	$ 5.2	$ 5.9
Unrecognized tax benefit changes in next 12 months		0.8
Unrecognized tax benefits, interest on income taxes accrued		0.9	2.5
Unrecognized tax benefits, income tax penalties accrued		$ 0.1	$ 0.1
Applebee's
Income Tax Examination [Line Items]
Number of restaurants \| restaurant		1,711
Applebee's \| Entity Operated Units
Income Tax Examination [Line Items]
Goodwill, impairment loss		$ 0.0
Number of restaurants \| restaurant		69		69

Income Taxes - Net deferred tax assets (liabilities) (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Lease liability	$ 119.6	$ 125.9
Employee compensation	7.5	9.2
Revenue recognition	36.6	32.8
Other	10.2	5.9
Deferred tax assets	173.9	173.8
Valuation allowance	(3.0)	(1.5)
Total deferred tax assets after valuation allowance	170.9	172.3
Recognition of franchise and equipment sales	(10.7)	(13.7)
Capitalization and depreciation	(123.2)	(130.8)
Lease assets (1)	(114.2)	(125.8)
Other	(1.1)	(0.5)
Deferred tax liabilities	(249.2)	(270.8)
Net deferred tax liabilities	$ (78.3)	$ (98.5)

Income Taxes - Reconciliation of unrecognized tax benefit (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Unrecognized tax benefit as of January 1	$ 7.6	$ 5.2	$ 5.9
Changes for tax positions of prior years	0.0	2.1	3.8
Increases for tax positions related to the current year	0.2	0.5	0.4
Decreases relating to settlements and lapsing of statutes of limitations	(5.6)	(0.2)	(4.9)
Unrecognized tax benefit as of December 31	$ 2.2	$ 7.6	$ 5.2

Net (Loss) Income Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Earnings Per Share [Abstract]
Net (loss) income	$ (1,561)	$ 10,018	$ (134,779)	$ 22,328	$ 27,396	$ 23,917	$ 21,390	$ 31,643	$ (103,994)	$ 104,346	$ 80,354
Less: Net income allocated to unvested participating restricted stock									(420)	(3,532)	(2,711)
Net (loss) income available to common stockholders									(104,414)	100,814	77,643
Effect of unvested participating restricted stock									0	33	16
(Loss) income available to common shareholders - diluted									$ (104,414)	$ 100,847	$ 77,659
Weighted average outstanding shares of common stock - basic (in shares)									16,230,000	16,934,000	17,533,000
Stock options (in shares)									0	311,000	256,000
Weighted average outstanding shares of common stock - diluted (in shares)									16,230,000	17,245,000	17,789,000
Basic (in dollars per share)	$ (0.10)	$ 0.60	$ (8.33)	$ 1.33	$ 1.61	$ 1.38	$ 1.20	$ 1.76	$ (6.43)	$ 5.95	$ 4.43
Diluted (in dollars per share)	$ (0.10)	$ 0.60	$ (8.33)	$ 1.31	$ 1.59	$ 1.36	$ 1.18	$ 1.73	$ (6.43)	$ 5.85	$ 4.37
Antidilutive securities excluded from computation of earnings per share (in shares)									100,056

Segment Reporting (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
Segment Reporting (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Segment Reporting Information [Line Items]
Rental revenues									$ 105,939	$ 120,666	$ 121,934
Revenues	$ 196,029	$ 176,643	$ 109,712	$ 206,884	$ 227,511	$ 217,405	$ 228,080	$ 237,182	689,268	910,178	780,931
Gross profit (loss), by segment									(108,562)	138,473	110,608
Total interest expense									75,900	70,200	71,000
Depreciation and amortization									42,829	42,493	32,175
Impairment of goodwill and intangible assets and closure and other impairment charges									132,600	1,500	2,100
Capital expenditures									10,927	19,424	14,279
Goodwill (franchise segment)	251,628				343,862				251,628	343,862	345,300	$ 339,200
Total assets	2,074,945				2,049,511				2,074,945	2,049,511	1,774,700
Operating Segments
Segment Reporting Information [Line Items]
Gross profit (loss), by segment									248,700	382,800	353,100
Operating Segments \| Franchise operations
Segment Reporting Information [Line Items]
Gross profit (loss), by segment									230,500	338,400	313,300
Depreciation and amortization									10,100	10,300	10,500
Impairment of goodwill and intangible assets and closure and other impairment charges									122,100	0	0
Capital expenditures									0	600	0
Total assets	997,700				1,116,200				997,700	1,116,200	1,152,100
Operating Segments \| Rental operations
Segment Reporting Information [Line Items]
Rental revenues									105,900	120,700	121,900
Gross profit (loss), by segment									16,400	29,900	31,200
Interest expense									6,300	7,700	9,200
Depreciation and amortization									12,300	13,400	11,700
Total assets	451,500				503,800				451,500	503,800	255,600
Operating Segments \| Company restaurants
Segment Reporting Information [Line Items]
Gross profit (loss), by segment									(3,500)	8,000	1,200
Interest expense									2,700	2,100	100
Depreciation and amortization									7,000	6,400	400
Impairment of goodwill and intangible assets and closure and other impairment charges									10,500	1,500	2,100
Capital expenditures									2,700	3,200	0
Total assets	121,100				134,300				121,100	134,300	66,500
Operating Segments \| Financing operations
Segment Reporting Information [Line Items]
Gross profit (loss), by segment									5,300	6,500	7,400
Total assets	49,900				72,000				49,900	72,000	73,700
Corporate, Non-Segment
Segment Reporting Information [Line Items]
Gross profit (loss), by segment									(357,300)	(244,300)	(242,500)
Interest expense									66,900	60,400	61,700
Depreciation and amortization									13,400	12,400	9,600
Capital expenditures									8,200	15,600	14,300
Total assets	$ 454,700				$ 223,200				454,700	223,200	226,800
Financing revenues
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax									5,822	7,112	7,979
Financing revenues \| Operating Segments \| Financing operations
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax									5,800	7,100	8,000
Franchisor
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax									469,453	651,186	643,934
Franchisor \| Operating Segments \| Franchise operations
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax									469,500	651,200	643,900
Food and Beverage
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax										$ 131,200
Food and Beverage \| Operating Segments \| Company restaurants
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax									$ 108,100		$ 7,100

Selected Quarterly Financial Data (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Quarterly Financial Information Disclosure [Abstract]
Revenues	$ 196,029	$ 176,643	$ 109,712	$ 206,884	$ 227,511	$ 217,405	$ 228,080	$ 237,182	$ 689,268	$ 910,178	$ 780,931
Gross Profit	67,383	66,784	30,122	84,427	95,668	89,720	94,855	102,571	248,716	382,814	353,087
Net (loss) income	$ (1,561)	$ 10,018	$ (134,779)	$ 22,328	$ 27,396	$ 23,917	$ 21,390	$ 31,643	$ (103,994)	$ 104,346	$ 80,354
Basic (in dollars per share)	$ (0.10)	$ 0.60	$ (8.33)	$ 1.33	$ 1.61	$ 1.38	$ 1.20	$ 1.76	$ (6.43)	$ 5.95	$ 4.43
Diluted (in dollars per share)	$ (0.10)	$ 0.60	$ (8.33)	$ 1.31	$ 1.59	$ 1.36	$ 1.18	$ 1.73	$ (6.43)	$ 5.85	$ 4.37
Asset impairment charges			$ 123,700

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity.

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+ Details