0000049754-22-000019 | 10-Q | XBRL Viewer

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Cover Page - shares	9 Months Ended
Cover Page - shares	Sep. 30, 2022	Oct. 25, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2022
Document Transition Report	false
Entity File Number	001-15283
Entity Registrant Name	Dine Brands Global, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	95-3038279
Entity Address, Address Line One	450 North Brand Boulevard,
Entity Address, City or Town	Glendale,
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	91203-2346
City Area Code	(818)
Local Phone Number	240-6055
Title of 12(b) Security	Common Stock, $0.01 par value
Trading Symbol	DIN
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Small Reporting Company	false
Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		15,678,481
Entity Central Index Key	0000049754
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Amendment Flag	false

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 355,288	$ 361,412
Receivables, net of allowance of $4,205 (2022) and $4,959 (2021)	89,529	119,968
Restricted cash	52,517	47,541
Prepaid gift card costs	24,595	28,175
Prepaid income taxes	3,502	10,529
Other current assets	11,075	6,728
Assets held for sale	109,280	0
Total current assets	645,786	574,353
Other intangible assets, net	526,989	539,390
Operating lease right-of-use assets	298,102	335,428
Goodwill	247,002	251,628
Property and equipment, net	135,368	179,411
Deferred rent receivable	44,306	50,257
Long-term receivables, net of allowance of $5,498 (2022) and $6,897 (2021)	43,245	42,493
Non-current restricted cash	16,400	16,400
Other non-current assets, net	14,823	10,006
Total assets	1,972,021	1,999,366
Current liabilities:
Current maturities of long-term debt	100,000	0
Accounts payable	40,781	55,956
Gift card liability	126,161	165,530
Current maturities of operating lease obligations	65,174	72,079
Current maturities of finance lease and financing obligations	8,402	10,693
Accrued employee compensation and benefits	20,786	40,785
Accrued advertising	38,804	33,752
Dividends payable	0	6,919
Other accrued expenses	22,975	25,016
Liabilities held for sale	96,023	0
Total current liabilities	519,106	410,730
Long-term debt	1,281,318	1,279,623
Operating lease obligations, less current maturities	279,620	320,848
Finance lease obligations, less current maturities	31,439	59,625
Financing obligations, less current maturities	28,572	31,967
Deferred income taxes, net	74,681	76,228
Deferred franchise revenue, long-term	42,616	46,100
Other non-current liabilities	16,263	17,052
Total liabilities	2,273,615	2,242,173
Commitments and contingencies
Stockholders’ deficit:
Preferred stock, $1 par value, 10,000,000 shares authorized; no shares issued or outstanding	0	0
Common stock, $0.01 par value; shares: 40,000,000 authorized; September 30, 2022 - 24,966,452 issued, 15,682,061 outstanding; December 31, 2021 - 24,992,275 issued, 17,163,946 outstanding	250	250
Additional paid-in-capital	256,508	256,189
Retained earnings	81,179	35,415
Accumulated other comprehensive loss	(68)	(59)
Treasury stock, at cost; shares: September 30, 2022 - 9,284,391; December 31, 2021 - 7,828,329	(639,463)	(534,602)
Total stockholders’ deficit	(301,594)	(242,807)
Total liabilities and stockholders’ deficit	$ 1,972,021	$ 1,999,366

Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Receivables, allowance for credit loss	$ 4,205	$ 4,959
Long-term receivables, allowance for credit loss	$ 5,498	$ 6,897
Preferred stock, par value (in dollars per share)	$ 1	$ 1
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	40,000,000	40,000,000
Common stock, shares issued (in shares)	24,966,452	24,992,275
Common stock, shares outstanding (in shares)	15,682,061	17,163,946
Treasury stock, shares (in shares)	9,284,391	7,828,329

Consolidated Statements of Comprehensive Income (Loss) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Revenues:
Rental revenues	$ 29,207	$ 31,273	$ 87,080	$ 84,797
Total revenues	233,220	228,719	701,437	666,537
Cost of revenues:
Franchise expenses	80,264	75,669	240,565	219,869
Bad debt credit	(77)	(1,962)	(523)	(4,246)
Company restaurant expenses	36,513	33,867	111,802	101,510
Interest expense from finance leases	740	822	2,254	2,677
Other rental expenses	21,268	23,645	63,720	63,359
Total rental expenses	22,008	24,467	65,974	66,036
Financing expenses	104	113	317	356
Total cost of revenues	138,889	134,116	418,658	387,771
Gross profit	94,331	94,603	282,779	278,766
General and administrative expenses	46,335	43,704	131,946	122,891
Interest expense, net	15,300	15,712	46,192	47,922
Closure and impairment charges	1,636	443	3,093	5,024
Amortization of intangible assets	2,664	2,664	7,994	8,015
Loss on extinguishment of debt	1,161	9	1,161	34
(Gain) loss on disposition of assets	(1,502)	1,299	(3,032)	1,436
Income before income taxes	28,737	30,772	95,425	93,444
Income tax provision	(7,789)	(7,661)	(25,665)	(15,368)
Net income	20,948	23,111	69,760	78,076
Other comprehensive income, net of tax:
Foreign currency translation adjustment	(5)	(2)	(9)	(4)
Total comprehensive income	20,943	23,109	69,751	78,072
Net income available to common stockholders:
Net income	20,948	23,111	69,760	78,076
Less: Net income allocated to unvested participating restricted stock	(575)	(502)	(1,852)	(1,920)
Net income available to common stockholders	$ 20,373	$ 22,609	$ 67,908	$ 76,156
Net income available to common stockholders per share:
Basic (USD per share)	$ 1.32	$ 1.34	$ 4.23	$ 4.55
Diluted (USD per share)	$ 1.32	$ 1.33	$ 4.22	$ 4.52
Weighted average shares outstanding:
Basic (in shares)	15,377	16,911	16,049	16,752
Diluted (in shares)	15,403	16,971	16,079	16,858
Franchise Revenue:
Revenues:
Revenue from contract with customer	$ 164,907	$ 161,126	$ 494,398	$ 469,056
Royalties, franchise fees and other
Revenues:
Revenue from contract with customer	93,215	90,417	277,712	265,138
Advertising revenues
Revenues:
Revenue from contract with customer	71,692	70,709	216,686	203,918
Company restaurant sales
Revenues:
Revenue from contract with customer	38,248	35,275	117,175	109,418
Financing revenues
Revenues:
Revenue from contract with customer	858	1,045	2,784	3,266
Advertising fees
Revenues:
Revenue from contract with customer	71,692	70,709	216,686	203,918
Cost of revenues:
Franchise expenses	71,692	70,709	216,686	203,918
Other franchise expenses
Cost of revenues:
Franchise expenses	$ 8,649	$ 6,922	$ 24,402	$ 20,197

Consolidated Statements of Stockholders' Deficit - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Loss	Treasury Stock
Common stock, beginning balance (in shares) at Dec. 31, 2020		16,452,000
Stockholders' equity balance, beginning of the period at Dec. 31, 2020	$ (354,651)	$ 249	$ 257,625	$ (55,553)	$ (55)	$ (556,917)
Treasury stock, beginning of period (in shares) at Dec. 31, 2020						8,430,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	78,076			78,076
Other comprehensive gain (loss)	(4)				(4)
Reissuance of treasure stock (in shares)		647,000				647,000
Reissuance of treasury stock	25,016	$ 1	(1,120)			$ 26,135
Net use of shares for stock plans (in shares)		140,000
Repurchase of restricted shares for taxes (in shares)		(19,000)
Repurchase of restricted shares for taxes	(1,543)		(1,543)
Stock-based compensation	8,572		8,572
Tax payments for share settlement of restricted stock units	(9,783)		(9,783)
Common stock, ending balance (in shares) at Sep. 30, 2021		17,220,000
Stockholders' equity balance, ending of the period at Sep. 30, 2021	(254,317)	$ 250	253,751	22,523	(59)	$ (530,782)
Treasury stock, end of period (in shares) at Sep. 30, 2021						7,783,000
Common stock, beginning balance (in shares) at Jun. 30, 2021		17,178,000
Stockholders' equity balance, beginning of the period at Jun. 30, 2021	(282,751)	$ 250	250,509	(588)	(57)	$ (532,865)
Treasury stock, beginning of period (in shares) at Jun. 30, 2021						7,833,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	23,111			23,111
Other comprehensive gain (loss)	(2)				(2)
Reissuance of treasure stock (in shares)		50,000				50,000
Reissuance of treasury stock	2,505		422			$ 2,083
Net use of shares for stock plans (in shares)		(6,000)
Repurchase of restricted shares for taxes (in shares)		(2,000)
Repurchase of restricted shares for taxes	(140)		(140)
Stock-based compensation	2,960		2,960
Common stock, ending balance (in shares) at Sep. 30, 2021		17,220,000
Stockholders' equity balance, ending of the period at Sep. 30, 2021	$ (254,317)	$ 250	253,751	22,523	(59)	$ (530,782)
Treasury stock, end of period (in shares) at Sep. 30, 2021						7,783,000
Common stock, beginning balance (in shares) at Dec. 31, 2021	17,163,946	17,164,000
Stockholders' equity balance, beginning of the period at Dec. 31, 2021	$ (242,807)	$ 250	256,189	35,415	(59)	$ (534,602)
Treasury stock, beginning of period (in shares) at Dec. 31, 2021						7,828,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	69,760			69,760
Other comprehensive gain (loss)	$ (9)				(9)
Purchase of common stock (in shares)	1,642,097	1,642,000				1,642,000
Purchase of common stock	$ (113,573)					$ (113,573)
Reissuance of treasure stock (in shares)	186,035	186,000				186,000
Reissuance of treasury stock	$ 241		(8,471)			$ 8,712
Net use of shares for stock plans (in shares)		9,000
Repurchase of restricted shares for taxes (in shares)		(35,000)
Repurchase of restricted shares for taxes	(2,601)		(2,601)
Stock-based compensation	12,128		12,128
Tax payments for share settlement of restricted stock units	$ (955)		(955)
Common stock, ending balance (in shares) at Sep. 30, 2022	15,682,061	15,682,000
Stockholders' equity balance, ending of the period at Sep. 30, 2022	$ (301,594)	$ 250	256,508	81,179	(68)	$ (639,463)
Treasury stock, end of period (in shares) at Sep. 30, 2022						9,284,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends on common stock	(23,778)		218	(23,996)
Common stock, beginning balance (in shares) at Jun. 30, 2022		15,823,000
Stockholders' equity balance, beginning of the period at Jun. 30, 2022	(308,656)	$ 250	253,213	68,265	(63)	$ (630,321)
Treasury stock, beginning of period (in shares) at Jun. 30, 2022						9,151,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	20,948			20,948
Other comprehensive gain (loss)	$ (5)				(5)
Purchase of common stock (in shares)	140,997	141,000				141,000
Purchase of common stock	$ (9,520)					$ (9,520)
Reissuance of treasure stock (in shares)		8,000				8,000
Reissuance of treasury stock	0		(378)			$ 378
Net use of shares for stock plans (in shares)		(5,000)
Repurchase of restricted shares for taxes (in shares)		(3,000)
Repurchase of restricted shares for taxes	(248)		(248)
Stock-based compensation	3,801		3,801
Tax payments for share settlement of restricted stock units	$ (2)		(2)
Common stock, ending balance (in shares) at Sep. 30, 2022	15,682,061	15,682,000
Stockholders' equity balance, ending of the period at Sep. 30, 2022	$ (301,594)	$ 250	256,508	81,179	$ (68)	$ (639,463)
Treasury stock, end of period (in shares) at Sep. 30, 2022						9,284,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends on common stock	$ (7,912)		$ 122	$ (8,034)

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Cash flows from operating activities:
Net income	$ 69,760	$ 78,076
Adjustments to reconcile net income to cash flows provided by operating activities:
Depreciation and amortization	28,870	29,995
Non-cash closure and impairment charges	2,975	4,949
Non-cash stock-based compensation expense	12,128	8,572
Non-cash interest expense	2,210	2,112
Deferred income taxes	(1,376)	(9,156)
Deferred revenue	(3,773)	(5,808)
Loss on extinguishment of debt	1,161	34
(Gain) loss on disposition of assets	(3,032)	1,436
Other	(3,816)	947
Changes in operating assets and liabilities:
Accounts receivable, net	(734)	8,398
Deferred rent receivable	5,951	4,629
Current income tax receivables and payables	7,361	4,544
Gift card receivables and payables	(16,752)	(9,215)
Other current assets	(5,948)	(2,645)
Accounts payable	(6,855)	9,678
Operating lease assets and liabilities	(8,286)	(13,994)
Accrued employee compensation and benefits	(18,738)	9,569
Accrued advertising	5,052	32,232
Other current liabilities	(2,668)	(8,791)
Cash flows provided by operating activities	63,490	145,562
Cash flows from investing activities:
Principal receipts from notes, equipment contracts and other long-term receivables	13,502	14,795
Net additions to property and equipment	(19,495)	(7,923)
Proceeds from sale of property and equipment	3,908	946
Additions to long-term receivables	(1,069)	0
Other	(255)	(357)
Cash flows (used in) provided by investing activities	(3,409)	7,461
Cash flows from financing activities:
Repayment of long-term debt	0	(9,750)
Borrowing from revolving credit facility	100,000	0
Repayment of revolving credit facility	0	(220,000)
Payment of debt issuance costs	(6,286)	0
Dividends paid on common stock	(30,765)	0
Repurchase of common stock	(113,862)	0
Principal payments on finance lease obligations	(7,001)	(7,772)
Proceeds from stock options exercised	241	25,016
Repurchase of restricted stock for tax payments upon vesting	(2,601)	(1,543)
Tax payments for share settlement of restricted stock units	(955)	(9,783)
Cash flows used in financing activities	(61,229)	(223,832)
Net change in cash, cash equivalents and restricted cash	(1,148)	(70,809)
Cash, cash equivalents and restricted cash at beginning of period	425,353	456,053
Cash, cash equivalents and restricted cash at end of period	424,205	385,244
Supplemental disclosures:
Interest paid in cash	47,478	49,366
Income taxes paid in cash	20,832	21,143
Non-cash conversion of accounts receivable to notes receivable	$ 84	$ 3,748

General	9 Months Ended
General	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
General	General The accompanying unaudited consolidated financial statements of Dine Brands Global, Inc. (the “Company” or “Dine Brands Global”) have been prepared in accordance with United States generally accepted accounting principles (“U.S. GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. The operating results for the nine months ended September 30, 2022 are not necessarily indicative of the results that may be expected for the twelve months ending December 31, 2022. The consolidated balance sheet at December 31, 2021 has been derived from the audited consolidated financial statements at that date but does not include all of information and footnotes required by U.S. GAAP for complete financial statements. These consolidated financial statements should be read in conjunction with the consolidated financial statements and footnotes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021.

Basis of Presentation	9 Months Ended
Basis of Presentation	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation Basis of Presentation The Company’s fiscal quarters end on the Sunday closest to the last day of each calendar quarter. For convenience, the fiscal quarters of each year are referred to as ending on March 31, June 30, September 30 and December 31. The first fiscal quarter of 2022 began on January 3, 2022 and ended on April 3, 2022; the second and third fiscal quarters of 2022 ended on July 3, 2022 and October 2, 2022, respectively. The first fiscal quarter of 2021 began on January 4, 2021 and ended on April 4, 2021; the second and third fiscal quarters of 2021 ended on July 4, 2021 and October 3, 2021, respectively. The accompanying consolidated financial statements include the accounts of the Company and its subsidiaries that are consolidated in accordance with U.S. GAAP. All intercompany balances and transactions have been eliminated. The preparation of financial statements in conformity with U.S. GAAP requires the Company’s management to make assumptions and estimates that affect the reported amounts of assets and liabilities, disclosures of contingent assets and liabilities, if any, at the date of the consolidated financial statements, and the reported amounts of revenues and expenses during the reporting period. Significant estimates may include the calculation and assessment of the following: impairment of goodwill, other intangible assets and tangible assets; income taxes; allowance for credit losses on 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 continuing outbreak of a novel strain of coronavirus, designated “COVID-19,” and evolving variants thereof. The extent of the continued impact of the COVID-19 pandemic on the Company's business remains uncertain and difficult to predict, as measures taken in response to and the effect of the pandemic have varied and continue to vary by country, state and municipalities within states. The Company first began to experience impacts from the COVID-19 pandemic in March 2020, as federal, state, local and international governments reacted to the public health crisis by encouraging social distancing and requiring, in varying degrees, restaurant dine-in limitations and other restrictions that largely limited the restaurants of the Company's franchisees and its company-operated restaurants to take-out and delivery sales during the initial stages of the pandemic. Subsequently, government-imposed dine-in restrictions have been relaxed or removed in many of the locations in which the Company operates as incidents of infection decline and vaccination rates increase within the respective governmental jurisdictions. As of September 30, 2022, substantially all domestic Applebee's Neighborhood Grill & Bar® (“Applebee's”) and International House of Pancakes® (“IHOP”) were open and operating without government-mandated restrictions. 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 and variants of the virus may arise, the availability and acceptance of vaccines, what restrictions on in-restaurant dining may be imposed or re-imposed, 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 adversely be impacted by the resurgence of outbreaks of the virus and its variants that result in the re-imposition of dine-in restrictions, as well as 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.

Accounting Standards Adopted and Newly Issued Accounting Standards Not Yet Adopted	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Accounting Standards Adopted and Newly Issued Accounting Standards Not Yet Adopted	Accounting Standards Adopted and Newly Issued Accounting Standards Not Yet Adopted Accounting Standards Adopted in the Current Fiscal Year In July 2021, the Financial Accounting Standards Board (“FASB”) issued guidance which affect lessors with lease contracts that (i) have variable lease payments that do not depend on a reference index or a rate and (ii) would have resulted in the recognition of a selling loss at lease commencement if classified as sales-type or direct financing. The amendments are effective for fiscal years beginning after December 15, 2021. Adoption did not have any material effect on the consolidated financial statements. Additional new accounting guidance became effective for the Company as of the beginning of fiscal 2022 that the Company reviewed and concluded was either not applicable to its operations or had no material effect on its consolidated financial statements in the current or future fiscal years. Newly Issued Accounting Standards Not Yet Adopted 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 its contracts that reference LIBOR and the potential effects of adopting this new guidance. 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.

- Definition

The entire disclosure for change in accounting principle. Includes, but is not limited to, nature, reason, and method of adopting amendment to accounting standards or other change in accounting principle.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/extlink&oid=126986314&loc=SL124402458-218513

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/extlink&oid=124501264&loc=SL117420844-207641

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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Revenue Disclosures

9 Months Ended

Sep. 30, 2022

Revenue from Contract with Customer [Abstract]

Revenue Disclosures

Franchise revenue and revenue from company-operated restaurants are recognized in accordance with current guidance for revenue recognition as codified in Accounting Standards Topic 606 (“ASC 606”). Under ASC 606, revenue is recognized upon transfer of control of promised services or goods to customers in an amount that reflects the consideration the Company expects to receive for those services or goods.

Franchising Activities

The Company owns, franchises and operates the Applebee's concept in the casual dining category of the restaurant industry and the Company owns and franchises the IHOP concept in the family dining category of the restaurant industry. The franchise arrangement for both brands is documented in the form of a franchise agreement and, in most cases, a development agreement. The franchise arrangement between the Company as the franchisor and the franchisee as the customer requires the Company to perform various activities to support the brands that do not directly transfer goods and services to the franchisee, but instead represent a single performance obligation, which is the transfer of the franchise license. The intellectual property subject to the franchise license is symbolic intellectual property as it does not have significant standalone functionality, and substantially all the utility is derived from its association with the Company’s past or ongoing activities. The nature of the Company’s promise in granting the franchise license is to provide the franchisee with access to the respective brand’s symbolic intellectual property

over the term of the license. The services provided by the Company are highly interrelated with the franchise license and as such are considered to represent a single performance obligation.

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

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

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

•The Company is entitled to royalties and advertising fees based on a percentage of the franchisee's gross sales as defined in the franchise agreement. Royalty and advertising revenue are recognized when the franchisee's reported sales occur. Depending on timing within a fiscal period, the recognition of revenue results in either what is considered a contract asset (unbilled receivable) or once billed, accounts receivable, and are included in “receivables, net” in the Consolidated Balance Sheets.

•Revenue from the sale of proprietary pancake and waffle dry mix is recognized in the period in which distributors ship the franchisee's order; recognition of revenue results in an accounts receivable included in “receivables, net” in the Consolidated Balance Sheets.

In determining the amount and timing of revenue from contracts with customers, the Company exercises significant judgment with respect to collectability of the amount; however, the timing of recognition does not require significant judgments as it is based on either the term of the franchise agreement, the month of reported sales by the franchisee or the date of product shipment, none of which require estimation. The Company does not incur a significant amount of contract acquisition costs in conducting franchising activities. The Company's franchising arrangements do not contain a significant financing component.

Company Restaurant Revenue

Sales by company-operated restaurants are recognized when food and beverage items are sold. Company restaurant sales are reported net of sales taxes collected from guests that are remitted to the appropriate taxing authorities.

The following table disaggregates franchise revenue by major type for the three and nine months ended September 30, 2022 and 2021:


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2022		2021		2022		2021
	(In thousands)
Franchise Revenue:
Royalties	$	76,418	$	75,098	$	229,666	$	217,499
Advertising fees	71,692		70,709		216,686		203,918
Pancake and waffle dry mix sales and other	14,563		12,782		41,571		37,197
Franchise and development fees	2,234		2,537		6,475		10,442
Total franchise revenue	$	164,907	$	161,126	$	494,398	$	469,056

Accounts and other receivables related to franchise revenues as of September 30, 2022 and December 31, 2021 were $65.4 million (net of allowance of $0.6 million) and $66.0 million (net of allowance of $1.1 million), respectively, and were included in receivables, net in the Consolidated Balance Sheets.

Changes in the Company's contract liability for deferred franchise and development fees during the nine months ended September 30, 2022 were as follows:


	Deferred Franchise Revenue (short- and long-term)
	(In thousands)
Balance at December 31, 2021	$	53,346
Recognized as revenue during the nine months ended September 30, 2022	(6,169)
Fees deferred during the nine months ended September 30, 2022	2,396
Balance at September 30, 2022	$	49,573

The short-term portion of deferred franchise revenue as of September 30, 2022 and December 31, 2021 was $7.0 million and $7.2 million, respectively, and was included in other accrued expenses in the Consolidated Balance Sheets.

The balance of deferred revenue as of September 30, 2022 is expected to be recognized as follows:


	(In thousands)
2022 (remaining three months)	$	1,739
2023	6,950
2024	6,341
2025	5,559
2026	4,736
Thereafter	24,248
Total	$	49,573

- Definition

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

+ References

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

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

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 606
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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
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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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-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130558-203045

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

+ Details

Current Expected Credit Losses ("CECL")

9 Months Ended

Sep. 30, 2022

Credit Loss [Abstract]

Current Expected Credit Losses ("CECL")

Current Expected Credit Losses (“CECL”)

The CECL reserve methodology requires companies to measure expected credit losses on financial instruments based on the total estimated amount to be collected over the lifetime of the instrument. Under the CECL model, reserves may be established against financial asset balances even if the risk of loss is remote or has not yet manifested itself. The Company records 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 Company's CECL methodology that assesses four components – historical losses, current conditions, reasonable and supportable forecasts, and a reversion to history, if applicable.

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 past due 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 and IHOP franchise fee and other notes. The notes are typically collateralized by the franchise. A significant portion of these notes have specific reserves recorded against them amounting to $8.8 million as of September 30, 2022.

Equipment Leases Receivable

Equipment leases receivable 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. Equipment lease contracts are collateralized by the equipment in the restaurant. 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. The weighted average remaining life of the Company’s equipment leases is 4.1 years as of September 30, 2022.

Real Estate Leases Receivable

Real estate leases receivable relate to IHOP franchise development activity prior to 2003. IHOP provided the financing for leasing or subleasing the site. Real estate leases at September 30, 2022, comprised 56 leases with a weighted average remaining life of 9.9 years, and relate to locations that IHOP is leasing from third parties and subleasing to franchisees.

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.


	September 30, 2022		December 31, 2021
	(In millions)
Accounts receivable	$	61.5	$	63.6
Gift card receivables	6.2		33.4
Notes receivable	17.9		19.7
Financing receivables:
Equipment leases receivable	28.4		33.4
Real estate leases receivable	19.9		16.7


Other	8.5		7.6
	142.4		174.4
Less: allowance for credit losses	(9.7)		(11.9)
	132.7		162.5
Less: current portion	(89.5)		(120.0)
Long-term receivables	$	43.2	$	42.5

Changes in the allowance for credit losses during the nine months ended September 30, 2022 were as follows:



	Accounts Receivable		Notes receivable, short-term		Notes receivable, long-term		Lease Receivables		Equipment Notes		Other (1)		Total
	(In millions)
Balance, December 31, 2021	$	1.0	$	3.8	$	6.6	$	0.2	$	0.1	$	0.2	$	11.9

Bad debt (credit) expense	(0.3)		1.0		(1.2)		(0.1)		0.1		0.0		(0.5)
Advertising provision adjustment	0.1		(0.5)		(0.2)		—		—		—		(0.6)
Write-offs	(0.2)		(0.7)		—		—		—		(0.2)		(1.1)
Recoveries	0.0		—		—		—		0.0		—		0.0
Balance, September 30, 2022	$	0.6	$	3.6	$	5.2	$	0.1	$	0.2	$	0.0	$	9.7

(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 September 30, 2022 was as follows:



	Notes receivable, short-term		Notes receivable, long-term		Lease Receivables		Equipment Notes		Other (1)		Total
	(In millions)
Current	$	4.4	$	11.9	$	19.9	$	28.4	$	2.3	$	66.9
30-59 days	0.0		—		—		—		—		0.0
60-89 days	0.0		—		—		—		—		0.0
90-119 days	0.1		—		—		—		—		0.1
120+ days	1.5		—		—		—		—		1.5
Total	$	6.0	$	11.9	$	19.9	$	28.4	$	2.3	$	68.5

(1) Primarily credit card receivables

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



	Notes receivable, short and long-term		Lease Receivables		Equipment Notes		Total
	(In millions)
2022	$	1.7	$	8.4	$	—	$	10.1
2021	10.7		2.6		—		13.3
2020	0.4		1.4		—		1.8
2019	0.0		0.8		—		0.8
2018	—		—		—		0.0
Prior	5.1		6.7		28.4		40.2
Total	$	17.9	$	19.9	$	28.4	$	66.2

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

- Definition

The entire disclosure for credit loss on financial instrument measured at amortized cost basis, net investment in lease, off-balance sheet credit exposure, and available-for-sale debt security.

+ References + Details

Lease Disclosures

9 Months Ended

Sep. 30, 2022

Leases [Abstract]

Lease Disclosures

The Company engages in leasing activity as both a lessee and a lessor. The Company currently leases from third parties the real property on which approximately 530 IHOP franchisee-operated restaurants and one Applebee's franchisee-operated restaurant are located; the Company (as lessor) subleases the property to the franchisees that operate those restaurants. The Company also leases property it owns to the franchisees that operate approximately 50 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 offices in Glendale, California and Pasadena, California and restaurant support centers in Leawood, Kansas 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 290 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 during the nine months ended September 30, 2022. Approximately 65 of the leases met the sales levels that required variable rent payments by the Company (as lessee), based on a percentage of restaurant sales during the nine months ended September 30, 2022.

The Company's lease cost for the three and nine months ended September 30, 2022 and 2021 was as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
	(In millions)
Finance lease cost:
Amortization of right-of-use assets	$	0.7	$	1.1	$	2.9	$	3.5
Interest on lease liabilities	1.2		1.3		3.7		4.2
Operating lease cost(1)	21.5		20.9		63.8		63.3
Variable lease cost	2.1		4.5		5.7		5.2
Short-term lease cost	0.0		0.0		0.0		0.0
Sublease income	(26.8)		(28.8)		(79.9)		(78.0)
Lease (income) cost	$	(1.3)	$	(1.0)	$	(3.8)	$	(1.9)

(1)Operating lease cost for the three and nine months ended September 30, 2021 previously disclosed as $24.4 million and $74.2 million, respectively, were overstated due to the inclusion of certain finance lease activity. The correct operating lease cost for the three and nine months ended September 30, 2021 was $20.9 million and $63.3 million, respectively, as reflected in the above table. The overstatement only impacted this note disclosure, and there was no impact to the Consolidated Statement of Comprehensive Income.

Future minimum lease payments under noncancelable leases as lessee as of September 30, 2022 were as follows:


	Finance Leases		Operating Leases
	(In millions)
2022 (remaining three months)	$	3.6	$	22.3
2023	12.1		71.1
2024	10.7		82.0
2025	9.2		70.1
2026	8.6		61.6
Thereafter	56.2		198.3
Total minimum lease payments	100.4		505.4
Less: interest/imputed interest	(28.3)		(98.4)
Total obligations	72.1		407.0
Less: current portion	(9.2)		(71.2)
Long-term lease obligations	$	62.9	$	335.8

A portion of the lease obligations have been included in liabilities held for sale in the Consolidated Balance Sheets.

The weighted average remaining lease term as of September 30, 2022 was 10.0 years for finance leases and 7.2 years for operating leases. The weighted average discount rate as of September 30, 2022 was 9.8% for finance leases and 5.5% for operating leases.

During the three and nine months ended September 30, 2022 and 2021, the Company made the following cash payments for leases:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
	(In millions)
Principal payments on finance lease obligations	$	2.3	$	2.5	$	7.0	$	7.8
Interest payments on finance lease obligations	$	1.2	$	1.3	$	3.7	$	4.2
Payments on operating leases	$	23.7	$	22.9	$	70.0	$	68.7
Variable lease payments	$	1.8	$	4.4	$	5.7	$	5.0

The Company's income from operating leases for the three and nine months ended September 30, 2022 and 2021 was as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
	(In millions)
Minimum lease payments	$	24.1	$	23.9	$	71.9	$	71.7
Variable lease income	4.0		6.8		12.5		11.1
Total operating lease income	$	28.1	$	30.7	$	84.4	$	82.8

Minimum payments to be received as lessor under noncancelable operating leases as of September 30, 2022 were as follows:



	(In millions)
2022 (remaining three months)	$	26.0
2023	101.7
2024	93.2
2025	80.6
2026	66.1
Thereafter	157.3
Total minimum rents receivable	$	524.9

The Company's income from real estate leases receivables for the three and nine months ended September 30, 2022 and 2021 was as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
	(In millions)
Interest income	$	0.4	$	0.5	$	1.1	$	1.6
Variable lease income	0.1		0.1		0.5		0.4
Selling profit	0.5		—		1.0		—
Total real estate lease income	$	1.0	$	0.6	$	2.6	$	2.0

Minimum payments to be received as lessor under noncancelable real estate leases as of September 30, 2022 were as follows:



	(In millions)
2022 (remaining three months)	$	1.8
2023	4.7
2024	2.6
2025	1.8
2026	1.8
Thereafter	14.1
Total minimum rents receivable	26.8
Less: unearned income	(6.9)
Total net investment in real estate leases	19.9
Less: current portion	(4.4)
Long-term investment in real estate leases	$	15.5

Lease Disclosures

The Company's lease cost for the three and nine months ended September 30, 2022 and 2021 was as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
	(In millions)
Finance lease cost:
Amortization of right-of-use assets	$	0.7	$	1.1	$	2.9	$	3.5
Interest on lease liabilities	1.2		1.3		3.7		4.2
Operating lease cost(1)	21.5		20.9		63.8		63.3
Variable lease cost	2.1		4.5		5.7		5.2
Short-term lease cost	0.0		0.0		0.0		0.0
Sublease income	(26.8)		(28.8)		(79.9)		(78.0)
Lease (income) cost	$	(1.3)	$	(1.0)	$	(3.8)	$	(1.9)

Future minimum lease payments under noncancelable leases as lessee as of September 30, 2022 were as follows:


	Finance Leases		Operating Leases
	(In millions)
2022 (remaining three months)	$	3.6	$	22.3
2023	12.1		71.1
2024	10.7		82.0
2025	9.2		70.1
2026	8.6		61.6
Thereafter	56.2		198.3
Total minimum lease payments	100.4		505.4
Less: interest/imputed interest	(28.3)		(98.4)
Total obligations	72.1		407.0
Less: current portion	(9.2)		(71.2)
Long-term lease obligations	$	62.9	$	335.8

A portion of the lease obligations have been included in liabilities held for sale in the Consolidated Balance Sheets.

During the three and nine months ended September 30, 2022 and 2021, the Company made the following cash payments for leases:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
	(In millions)
Principal payments on finance lease obligations	$	2.3	$	2.5	$	7.0	$	7.8
Interest payments on finance lease obligations	$	1.2	$	1.3	$	3.7	$	4.2
Payments on operating leases	$	23.7	$	22.9	$	70.0	$	68.7
Variable lease payments	$	1.8	$	4.4	$	5.7	$	5.0

The Company's income from operating leases for the three and nine months ended September 30, 2022 and 2021 was as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
	(In millions)
Minimum lease payments	$	24.1	$	23.9	$	71.9	$	71.7
Variable lease income	4.0		6.8		12.5		11.1
Total operating lease income	$	28.1	$	30.7	$	84.4	$	82.8

Minimum payments to be received as lessor under noncancelable operating leases as of September 30, 2022 were as follows:



	(In millions)
2022 (remaining three months)	$	26.0
2023	101.7
2024	93.2
2025	80.6
2026	66.1
Thereafter	157.3
Total minimum rents receivable	$	524.9

The Company's income from real estate leases receivables for the three and nine months ended September 30, 2022 and 2021 was as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
	(In millions)
Interest income	$	0.4	$	0.5	$	1.1	$	1.6
Variable lease income	0.1		0.1		0.5		0.4
Selling profit	0.5		—		1.0		—
Total real estate lease income	$	1.0	$	0.6	$	2.6	$	2.0

Minimum payments to be received as lessor under noncancelable real estate leases as of September 30, 2022 were as follows:



	(In millions)
2022 (remaining three months)	$	1.8
2023	4.7
2024	2.6
2025	1.8
2026	1.8
Thereafter	14.1
Total minimum rents receivable	26.8
Less: unearned income	(6.9)
Total net investment in real estate leases	19.9
Less: current portion	(4.4)
Long-term investment in real estate leases	$	15.5

Lease Disclosures

The Company's lease cost for the three and nine months ended September 30, 2022 and 2021 was as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
	(In millions)
Finance lease cost:
Amortization of right-of-use assets	$	0.7	$	1.1	$	2.9	$	3.5
Interest on lease liabilities	1.2		1.3		3.7		4.2
Operating lease cost(1)	21.5		20.9		63.8		63.3
Variable lease cost	2.1		4.5		5.7		5.2
Short-term lease cost	0.0		0.0		0.0		0.0
Sublease income	(26.8)		(28.8)		(79.9)		(78.0)
Lease (income) cost	$	(1.3)	$	(1.0)	$	(3.8)	$	(1.9)

Future minimum lease payments under noncancelable leases as lessee as of September 30, 2022 were as follows:


	Finance Leases		Operating Leases
	(In millions)
2022 (remaining three months)	$	3.6	$	22.3
2023	12.1		71.1
2024	10.7		82.0
2025	9.2		70.1
2026	8.6		61.6
Thereafter	56.2		198.3
Total minimum lease payments	100.4		505.4
Less: interest/imputed interest	(28.3)		(98.4)
Total obligations	72.1		407.0
Less: current portion	(9.2)		(71.2)
Long-term lease obligations	$	62.9	$	335.8

A portion of the lease obligations have been included in liabilities held for sale in the Consolidated Balance Sheets.

During the three and nine months ended September 30, 2022 and 2021, the Company made the following cash payments for leases:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
	(In millions)
Principal payments on finance lease obligations	$	2.3	$	2.5	$	7.0	$	7.8
Interest payments on finance lease obligations	$	1.2	$	1.3	$	3.7	$	4.2
Payments on operating leases	$	23.7	$	22.9	$	70.0	$	68.7
Variable lease payments	$	1.8	$	4.4	$	5.7	$	5.0

The Company's income from operating leases for the three and nine months ended September 30, 2022 and 2021 was as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
	(In millions)
Minimum lease payments	$	24.1	$	23.9	$	71.9	$	71.7
Variable lease income	4.0		6.8		12.5		11.1
Total operating lease income	$	28.1	$	30.7	$	84.4	$	82.8

Minimum payments to be received as lessor under noncancelable operating leases as of September 30, 2022 were as follows:



	(In millions)
2022 (remaining three months)	$	26.0
2023	101.7
2024	93.2
2025	80.6
2026	66.1
Thereafter	157.3
Total minimum rents receivable	$	524.9

The Company's income from real estate leases receivables for the three and nine months ended September 30, 2022 and 2021 was as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
	(In millions)
Interest income	$	0.4	$	0.5	$	1.1	$	1.6
Variable lease income	0.1		0.1		0.5		0.4
Selling profit	0.5		—		1.0		—
Total real estate lease income	$	1.0	$	0.6	$	2.6	$	2.0

Minimum payments to be received as lessor under noncancelable real estate leases as of September 30, 2022 were as follows:



	(In millions)
2022 (remaining three months)	$	1.8
2023	4.7
2024	2.6
2025	1.8
2026	1.8
Thereafter	14.1
Total minimum rents receivable	26.8
Less: unearned income	(6.9)
Total net investment in real estate leases	19.9
Less: current portion	(4.4)
Long-term investment in real estate leases	$	15.5

Lease Disclosures

The Company's lease cost for the three and nine months ended September 30, 2022 and 2021 was as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
	(In millions)
Finance lease cost:
Amortization of right-of-use assets	$	0.7	$	1.1	$	2.9	$	3.5
Interest on lease liabilities	1.2		1.3		3.7		4.2
Operating lease cost(1)	21.5		20.9		63.8		63.3
Variable lease cost	2.1		4.5		5.7		5.2
Short-term lease cost	0.0		0.0		0.0		0.0
Sublease income	(26.8)		(28.8)		(79.9)		(78.0)
Lease (income) cost	$	(1.3)	$	(1.0)	$	(3.8)	$	(1.9)

Future minimum lease payments under noncancelable leases as lessee as of September 30, 2022 were as follows:


	Finance Leases		Operating Leases
	(In millions)
2022 (remaining three months)	$	3.6	$	22.3
2023	12.1		71.1
2024	10.7		82.0
2025	9.2		70.1
2026	8.6		61.6
Thereafter	56.2		198.3
Total minimum lease payments	100.4		505.4
Less: interest/imputed interest	(28.3)		(98.4)
Total obligations	72.1		407.0
Less: current portion	(9.2)		(71.2)
Long-term lease obligations	$	62.9	$	335.8

A portion of the lease obligations have been included in liabilities held for sale in the Consolidated Balance Sheets.

During the three and nine months ended September 30, 2022 and 2021, the Company made the following cash payments for leases:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
	(In millions)
Principal payments on finance lease obligations	$	2.3	$	2.5	$	7.0	$	7.8
Interest payments on finance lease obligations	$	1.2	$	1.3	$	3.7	$	4.2
Payments on operating leases	$	23.7	$	22.9	$	70.0	$	68.7
Variable lease payments	$	1.8	$	4.4	$	5.7	$	5.0

The Company's income from operating leases for the three and nine months ended September 30, 2022 and 2021 was as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
	(In millions)
Minimum lease payments	$	24.1	$	23.9	$	71.9	$	71.7
Variable lease income	4.0		6.8		12.5		11.1
Total operating lease income	$	28.1	$	30.7	$	84.4	$	82.8

Minimum payments to be received as lessor under noncancelable operating leases as of September 30, 2022 were as follows:



	(In millions)
2022 (remaining three months)	$	26.0
2023	101.7
2024	93.2
2025	80.6
2026	66.1
Thereafter	157.3
Total minimum rents receivable	$	524.9

The Company's income from real estate leases receivables for the three and nine months ended September 30, 2022 and 2021 was as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
	(In millions)
Interest income	$	0.4	$	0.5	$	1.1	$	1.6
Variable lease income	0.1		0.1		0.5		0.4
Selling profit	0.5		—		1.0		—
Total real estate lease income	$	1.0	$	0.6	$	2.6	$	2.0

Minimum payments to be received as lessor under noncancelable real estate leases as of September 30, 2022 were as follows:



	(In millions)
2022 (remaining three months)	$	1.8
2023	4.7
2024	2.6
2025	1.8
2026	1.8
Thereafter	14.1
Total minimum rents receivable	26.8
Less: unearned income	(6.9)
Total net investment in real estate leases	19.9
Less: current portion	(4.4)
Long-term investment in real estate leases	$	15.5

Long-Term Debt

9 Months Ended

Sep. 30, 2022

Debt Disclosure [Abstract]

Long-Term Debt

At September 30, 2022 and December 31, 2021, long-term debt consisted of the following:


	September 30, 2022		December 31, 2021
	(In millions)
Series 2019-1 4.194% Fixed Rate Senior Secured Notes, Class A-2-I	$	693.0	$	693.0
Series 2019-1 4.723% Fixed Rate Senior Secured Notes, Class A-2-II	594.0		594.0
Series 2022-1 Variable Funding Class A-1, variable interest rate of 5.50% at September 30, 2022	100.0		—
Debt issuance costs	(5.7)		(7.4)
Long-term debt, net of debt issuance costs	1,381.3		1,279.6
Current portion of long-term debt	(100.0)		—
Long-term debt	$	1,281.3	$	1,279.6

On June 5, 2019, Applebee’s Funding LLC and IHOP Funding LLC (the “Co-Issuers”), each a special purpose, wholly-owned indirect subsidiary of the Company, issued two tranches of fixed rate senior secured notes, the Series 2019-1 4.194% Fixed Rate Senior Secured Notes, Class A-2-I (“Class A-2-I Notes”) in an initial aggregate principal amount of $700 million and the Series 2019-1 4.723% Fixed Rate Senior Secured Notes, Class A-2-II (“Class A-2-II Notes”) in an initial aggregate

principal amount of $600 million (the “Class A-2-II Notes” and, together with the Class A-2-I Notes, the “2019 Class A-2 Notes”). The 2019 Class A-2 Notes were issued pursuant to an offering exempt from registration under the Securities Act of 1933, as amended.

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

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

2019 Class A-2 Notes

The legal final maturity of the 2019 Class A-2 Notes is June 2049, but rapid amortization will apply if the Class A-2-I Notes are not repaid by June 2024 (the “Class A-2-I Anticipated Repayment Date”) and for the Class A-2-II Notes if not repaid by June 2026 (the “Class A-2-II Anticipated Repayment Date”). If the Co-Issuers have not repaid or refinanced the Class A-2-I Notes by the Class A-2-I Anticipated Repayment Date or the Class A-2-II Notes by the Class A-2-II Anticipated Repayment Date, then additional interest will accrue on the Class A-2-I Notes and the Class A-2-II Notes, as applicable, at the greater of: (A) 5.0% and (B) the amount, if any, by which the sum of the following exceeds the applicable Series 2019-1 Class A-2 Note interest rate: (x) the yield to maturity (adjusted to a quarterly bond-equivalent basis) on the applicable anticipated repayment date of the United States Treasury Security having a term closest to 10 years plus (y) 5.0%, plus (z) 2.15% for the Series 2019-1 Class A-2-I Notes and 2.64% for the Series 2019-1 Class A-2-II Notes.

While the 2019 Class A-2 Notes are outstanding, payment of principal and interest is required to be made on the 2019 Class A-2 Notes on a quarterly basis. The quarterly principal payment of $3.25 million on the 2019 Class A-2 Notes may be suspended when the leverage ratio for the Company and its subsidiaries is less than or equal to 5.25x. Exceeding the leverage ratio of 5.25x does not violate any covenant related to the Notes. In general, the leverage ratio is the Company's indebtedness (as defined in the Indenture) divided by adjusted EBITDA (as defined in the Indenture) for the four preceding quarterly periods. The complete definitions of all calculation elements of the leverage ratio are contained in the Indenture.

As of September 30, 2022, the Company's leverage ratio was 3.90x. As a result, quarterly principal payments on the 2019 Class A-2 Notes of $3.25 million currently are not required.

The Company may voluntarily repay the 2019 Class A-2 Notes at any time; however, if the 2019 Class A-2 Notes are repaid prior to certain dates, the Company would be required to pay make-whole premiums. As of September 30, 2022, the make-whole premium associated with voluntary prepayment of the Class A-2-I Notes was zero and will remain as such. As of September 30, 2022, the make-whole premium associated with voluntary prepayment of the Class A-2-II Notes was approximately $0.5 million; this amount declines progressively each quarter to zero in June 2024. The Company also would be subject to a make-whole premium in the event of a mandatory prepayment required following a Rapid Amortization Event (as defined in the Indenture) or certain asset dispositions. The mandatory make-whole premium requirements are considered derivatives embedded in the Notes that must be bifurcated for separate valuation. The Company estimated the fair value of these derivatives to be immaterial as of September 30, 2022, based on the probability-weighted discounted cash flows associated with either event.

2019 Class A-1 Notes

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

2022 Class A-1 Notes

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

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

In August 2022, the Company borrowed $100 million against the Credit Facility, all of which was outstanding at September 30, 2022. The amount of $3.4 million was pledged against the Credit Facility at September 30, 2022 for outstanding letters of credit, leaving $221.6 million available for borrowing. The letters of credit are used primarily to satisfy insurance-related collateral requirements.

Covenants and Restrictions

The 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 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 Notes are in stated ways defective or

ineffective; and (iv) covenants relating to recordkeeping, access to information and similar matters. The Notes are subject to customary rapid amortization events provided for in the Indenture, including events tied to failure of the Securitization Entities (as defined in the Indenture) 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 Notes are also subject to certain customary events of default, including events relating to non-payment of required interest, principal or other amounts due on or with respect to the Notes, failure of the Securitization Entities to maintain the stated DSCR, failure to comply with covenants within certain time frames, certain bankruptcy events, breaches of specified representations and warranties and certain judgments.

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 September 30, 2022 was approximately 4.15x.

Loss on Extinguishment of Debt

In connection with the termination of the Previous Credit Facility during the three months ended September 30, 2022, the Company recognized a loss on extinguishment of debt of $1.2 million, representing the remaining unamortized debt issuance costs associated with the Previous Credit Facility.

Debt Issuance Costs

2019 Class A-2 Notes

Amortization of costs incurred in connection with the issuance of the 2019 Class A-2 Notes of $0.6 million and $0.6 million were included in interest expense for the three months ended September 30, 2022 and 2021, respectively. Amortization of costs incurred in connection with the issuance of the 2019 Class A-2 Notes of $1.7 million and $1.7 million were included in interest expense for the nine months ended September 30, 2022 and 2021, respectively. Amortization costs incurred in connection with the Previous Credit Facility of $0.0 million and $0.2 million were included in interest expense for the three months ended September 30, 2022 and 2021, respectively. Amortization costs incurred in connection with the Previous Credit Facility of $0.4 million and $0.5 million were included in interest expense for the nine months ended September 30, 2022 and 2021, respectively.

At September 30, 2022, total unamortized debt issuance costs related to the 2019 Class A-2 Notes of $5.7 million are reported as a direct reduction of the 2019 Class A-2 Notes in the Consolidated Balance Sheets.

2022 Class A-1 Notes

In August 2022, the Company incurred costs of approximately $6.3 million in connection with the issuance of the Credit Facility. These debt issuance costs are being amortized over the estimated life of the Credit Facility. Amortization of $0.1 million of these costs was included in interest expense for the three and nine months ended September 30, 2022. At September 30, 2022, total unamortized debt issuance costs of $6.1 million related to the Credit Facility are classified as other non-current assets in the Consolidated Balance Sheets.

Maturities of Long-term Debt

•The anticipated repayment date of the Class A-2-I Notes is June 2024.

•The anticipated repayment date of the Class A-2-II Notes is June 2026.

•The renewal date of the Credit Facility is June 2027.

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

- Definition

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

+ References

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

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

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+ Details

Stockholders' Deficit

9 Months Ended

Sep. 30, 2022

Equity [Abstract]

Stockholders' Deficit

Dividends

Dividends declared and paid per share for the three and nine months ended September 30, 2022 and 2021 were as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Dividends declared per common share	$	0.51	$	—	$	1.48	$	—
Dividends paid per common share	$	1.02	$	—	$	1.88	$	—

On October 28, 2021, the Company's Board of Directors declared a fourth quarter 2021 cash dividend of $0.40 per share of common stock, paid on January 7, 2022 to the stockholders of record as of the close of business on December 17, 2021.

On February 17, 2022, the Company's Board of Directors declared a first quarter 2022 cash dividend of $0.46 per share of

common stock, paid on April 1, 2022 to the stockholders of record as of the close of business on March 21, 2022.

On May 12, 2022, the Company's Board of Directors declared a second quarter 2022 cash dividend of $0.51 per share of

common stock, paid on July 8, 2022 to the stockholders of record as of the close of business on June 20, 2022.

On September 9, 2022, the Company's Board of Directors declared a third quarter 2022 cash dividend of $0.51 per share of

common stock, paid on September 30, 2022 to the stockholders of record as of the close of business on September 20, 2022.

Stock Repurchase Program

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

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

During the three and nine months ended September 30, 2022, the Company repurchased 140,997 and 1,642,097 shares of common stock at a cost of $9.5 million and $113.6 million, respectively. The amounts for the three months ended September 30, 2022 relate to the 2022 Repurchase Program. For the nine months ended September 30, 2022, 588,108 shares of common stock at a cost of $41.4 million relate to the 2019 Repurchase Program and 1,053,989 shares of common stock at a cost of $72.1 million relate to the 2022 Repurchase Program. The Company did not repurchase any shares of common stock during the three and nine months ended September 30, 2021.

Treasury StockRepurchases of the Company's common stock are included in treasury stock at the cost of shares repurchased plus any transaction costs. Treasury stock may be re-issued when stock options are exercised, when restricted stock awards are granted and when restricted stock units settle in stock upon vesting. The cost of treasury stock re-issued is determined using the first-in, first-out (“FIFO”) method. During the nine months ended September 30, 2022, the Company re-issued 186,035 shares of treasury stock at a total FIFO cost of $8.7 million.

- Definition

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

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+ Details

Income Taxes	9 Months Ended
Income Taxes	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company's effective tax rate was 26.9% for the nine months ended September 30, 2022, as compared to 16.4% for the nine months ended September 30, 2021. The effective tax rate for the nine months ended September 30, 2022 was higher than the rate of the prior comparable period, primarily due to the recognition of excess tax benefits on stock-based compensation related to the departure of the Company's previous chief executive officer in the first quarter of 2021. The total gross unrecognized tax benefit as of September 30, 2022 and December 31, 2021 was $2.2 million and $1.9 million, respectively, excluding interest, penalties and related tax benefits. The Company estimates the unrecognized tax benefit as of September 30, 2022 may decrease over the upcoming 12 months by an amount up to $0.3 million related to settlements with taxing authorities and expiring statutes of limitations. 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. As of September 30, 2022, accrued interest was $0.7 million and accrued penalties were less than $0.1 million, excluding any related income tax benefits. As of December 31, 2021, accrued interest was $0.6 million and accrued penalties were less than $0.1 million, excluding any related income tax benefits. The Company recognizes interest accrued related to unrecognized tax benefits and penalties as a component of its income tax provision recognized in its Consolidated Statements of Comprehensive Income. The Company files federal income tax returns and the Company or one of its subsidiaries file income tax returns in various state and international jurisdictions. 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 provided related to all matters contained in the tax periods open to examination. On August 16, 2022, the Inflation Reduction Act of 2022 (“Inflation Reduction Act”) was signed into law in the United States. The Company will monitor regulatory developments and will continue to evaluate the impact, if any, on our consolidated financial statements.

- 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.

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+ Details

Stock-Based Compensation

9 Months Ended

Sep. 30, 2022

Share-Based Payment Arrangement [Abstract]

Stock-Based Compensation

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



	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Total stock-based compensation expense:	(In millions)
Equity classified awards expense	$	3.8	$	3.0	$	12.2	$	8.6
Liability classified awards expense	0.3		0.2		1.7		2.2
Total pre-tax stock-based compensation expense	4.1		3.2		13.9		10.8
Book income tax benefit	(1.1)		(0.8)		(3.5)		(2.7)
Total stock-based compensation expense, net of tax	$	3.0	$	2.4	$	10.4	$	8.1

As of September 30, 2022, total unrecognized compensation expense of $19.7 million related to restricted stock and restricted stock units and $3.3 million related to stock options are expected to be recognized over a weighted average period of 1.5 years for restricted stock and restricted stock units and 1.5 years for stock options.

Fair Value Assumptions

The following table summarizes the assumptions used in the Black-Scholes model for stock options granted during the nine months ended September 30, 2022.


Risk-free interest rate	1.7	%
Historical volatility	70.1	%
Dividend yield	2.6	%
Expected years until exercise	4.5
Fair value of options granted	$33.23

Equity Classified Awards - Stock Options

Stock option balances at September 30, 2022, and activity for the nine months ended September 30, 2022 were as follows:


	Shares	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (in Years)	Aggregate Intrinsic Value (in Millions)
Outstanding at December 31, 2021	475,904	$	76.65
Granted	75,795	70.08
Exercised	(3,505)	68.80
Expired	(2,448)	94.43
Forfeited	(6,171)	81.13
Outstanding at September 30, 2022	539,575	75.65		6.2	$	1.3
Vested at September 30, 2022 and Expected to Vest	524,475	75.73		6.1	$	1.3
Exercisable at September 30, 2022	378,811	$	75.95	5.1	$	1.2

The aggregate intrinsic value in the table above represents the total pre-tax intrinsic value (the difference between the closing stock price of the Company’s common stock on the last trading day of the third quarter of 2022 and the exercise price, multiplied by the number of in-the-money options) that would have been received by the option holders had all option holders exercised their options on September 30, 2022. The aggregate intrinsic value will change based on the fair market value of the Company’s common stock and the number of in-the-money options.

Equity Classified Awards - Restricted Stock and Restricted Stock Units

Outstanding balances as of September 30, 2022, and activity related to restricted stock and restricted stock units for the nine months ended September 30, 2022 were as follows:


	Restricted Stock	Weighted Average Grant Date Fair Value		Stock-Settled Restricted Stock Units	Weighted Average Grant Date Fair Value
Outstanding at December 31, 2021	276,611	$	80.85	105,592	$	71.00
Granted	182,530	70.24		60,914	49.36
Released	(87,779)	88.35		(42,180)	66.46
Forfeited	(20,592)	77.24		—	—
Outstanding at September 30, 2022	350,770	$	73.67	124,326	$	62.18

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, 2021						12,799
Granted						67
Released						(12,866)

Outstanding at September 30, 2022						—

For the three months ended September 30, 2022 and 2021, an expense of zero and $0.1 million, respectively, was included as stock-based compensation expense related to cash-settled restricted stock units. For the nine months ended September 30, 2022 and 2021, an expense of $0.2 million and a credit of $1.5 million, respectively, was included as stock-based compensation expense related to cash-settled restricted stock units. At September 30, 2022 and December 31, 2021, liabilities were zero and $0.9 million, respectively, related to cash-settled restricted stock units were included as part of accrued employee compensation and benefits in the Consolidated Balance Sheets.

Liability Classified Awards - Long-Term Incentive Awards

The Company has granted cash long-term incentive awards (“LTIP awards”) to certain employees. Annual LTIP awards vest over a three-year period and are determined using multipliers from 0% to 200% of the target award based on the total stockholder return of the Company's common stock compared to the total stockholder returns of a peer group of companies. The awards are considered stock-based compensation and are classified as liabilities measured at fair value as of the respective period end. For the three months ended September 30, 2022 and 2021, an expense of $0.2 million and $0.2 million, respectively, were included in total stock-based compensation expense related to LTIP awards. For the nine months ended September 30, 2022 and 2021, $1.5 million and $0.7 million, respectively, were included in total stock-based compensation expense related to LTIP awards. At September 30, 2022 and December 31, 2021, liabilities of $2.4 million and $1.5 million, respectively, related to LTIP awards were included as part of accrued employee compensation and benefits, and for the long-term portion in other non-current liabilities in the Consolidated Balance Sheets.

Net Income (Loss) per Share

9 Months Ended

Sep. 30, 2022

Earnings Per Share [Abstract]

Net Income (Loss) per Share

Net Income per Share

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



	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
	(In thousands, except per share data)
Numerator for basic and diluted income per common share:
Net income	$	20,948	$	23,111	$	69,760	$	78,076
Less: Net income allocated to unvested participating restricted stock	(575)		(502)		(1,852)		(1,920)
Net income available to common stockholders - basic	20,373		22,609		67,908		76,156
Effect of unvested participating restricted stock in two-class calculation	—		2		3		13

Net income available to common stockholders - diluted	$	20,373	$	22,611	$	67,911	$	76,169
Denominator:
Weighted average outstanding shares of common stock - basic	15,377		16,911		16,049		16,752
Dilutive effect of stock options	26		60		30		106
Weighted average outstanding shares of common stock - diluted	15,403		16,971		16,079		16,858
Net income per common share:
Basic	$	1.32	$	1.34	$	4.23	$	4.55
Diluted	$	1.32	$	1.33	$	4.22	$	4.52

Segments

9 Months Ended

Sep. 30, 2022

Segment Reporting [Abstract]

Segments

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

considers these to be its reportable segments, regardless of whether any segment exceeds 10% of consolidated revenues, income before income tax provision or total assets.

As of September 30, 2022, the franchise operations segment consisted of (i) 1,601 restaurants operated by Applebee’s franchisees in the United States, two U.S. territories and 11 countries outside the United States and (ii) 1,766 restaurants operated by IHOP franchisees and area licensees in the United States, two U.S. territories and eight countries outside the United States. Franchise operations revenue consists primarily of franchise royalty revenues, franchise advertising revenue, sales of proprietary products to franchisees (primarily pancake and waffle dry mixes for the IHOP restaurants), and franchise fees. Franchise operations expenses include advertising expenses, the cost of IHOP proprietary products, bad debt expense, franchisor contributions to marketing funds, pre-opening training expenses and other franchise-related costs.

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

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

Financing revenues primarily consist of interest income from the financing of IHOP equipment leases and franchise fees and interest income on Applebee's notes receivable from franchisees. Financing expenses are the cost of taxes related to IHOP equipment leases. Information on segments is as follows:



	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
	(In millions)
Revenues from external customers:

Franchise operations	$	164.9	$	161.2	$	494.4	$	469.1
Rental operations	29.2		31.3		87.1		84.8
Company restaurants	38.2		35.2		117.2		109.4
Financing operations	0.9		1.0		2.8		3.3
Total	$	233.2	$	228.7	$	701.4	$	666.5

Interest expense:

Rental operations	$	1.1	$	1.2	$	3.2	$	3.8
Company restaurants	0.7		0.8		2.4		2.4
Corporate	15.3		15.7		46.2		48.0
Total	$	17.1	$	17.7	$	51.8	$	54.2

Depreciation and amortization:

Franchise operations	$	2.5	$	2.5	$	7.5	$	7.6
Rental operations	2.7		2.8		8.0		8.3
Company restaurants	0.5		1.7		4.3		5.3
Corporate	3.2		3.0		9.1		8.8
Total	$	8.9	$	10.0	$	28.9	$	30.0

Gross profit (loss), by segment:

Franchise operations	$	84.6	$	85.5	$	253.8	$	249.2
Rental operations	7.2		6.8		21.1		18.8
Company restaurants	1.7		1.4		5.4		7.9
Financing operations	0.8		0.9		2.5		2.9
Total gross profit	94.3		94.6		282.8		278.8
Corporate and unallocated expenses, net	(65.6)		(63.8)		(187.4)		(185.4)
Income before income taxes	$	28.7	$	30.8	$	95.4	$	93.4

- Definition

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

+ References

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

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

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599

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

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

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (e)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

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

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

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

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 15
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8657-108599

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

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

+ Details

Closure and Impairment Charges

9 Months Ended

Sep. 30, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Closure and Impairment Charges

Closure and impairment charges for the three and nine months ended September 30, 2022 and 2021 were as follows:


Closure and Impairment Charges	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
	(In millions)
Closure charges	$	0.5	$	0.4	$	1.7	$	3.3
Long-lived tangible asset impairment	1.1		—		1.4		1.7



Total closure and impairment charges	$	1.6	$	0.4	$	3.1	$	5.0

The closure charges for the three and nine months ended September 30, 2022 were for approximately 30 and 35 IHOP restaurants, respectively, and were primarily related to the revisions to existing closure reserves, including accretion. The closure charges for the three months ended September 30, 2021 related to revisions to existing closure reserves, including accretion, primarily for approximately 50 IHOP restaurants closed prior to June 30, 2021. The closure charges for the nine months ended September 30, 2021 related to approximately 25 IHOP restaurants closed in 2021 and the establishment of, or revisions to existing closure reserves, including accretion, primarily for approximately 30 IHOP restaurants.

Long-lived tangible asset impairment charges for the three months ended September 30, 2022 related to the Applebee's company-operated restaurants (see Note 17 - Assets and Liabilities Held for Sale). Long-lived tangible asset impairment charges for the nine months ended September 30, 2022 related to the Applebee's company-operated restaurants for $1.1 million and the impairment of land and buildings for two IHOP restaurants located on sites owned by the Company. Long-lived tangible asset impairment charges for the nine months ended September 30, 2021 related to four IHOP franchisee-operated restaurants. The impairment recorded represented the difference between the carrying value and the estimated fair value.

Fair Value Measurements

9 Months Ended

Sep. 30, 2022

Fair Value Disclosures [Abstract]

Fair Value Measurements

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

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

The fair values of the Company's 2019 Class A-2 Notes at September 30, 2022 and December 31, 2021 were as follows:


	September 30, 2022		December 31, 2021
	(In millions)
Face Value of Class A-2 Notes	$	1,287.0	$	1,287.0
Fair Value of Class A-2 Notes	$	1,213.7	$	1,312.9

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

- Definition

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

+ References + Details

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Sep. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Litigation, Claims and Disputes The Company is subject to various lawsuits, administrative proceedings, audits and claims arising in the ordinary course of business. Some of these lawsuits purport to be class actions and/or seek substantial damages. The Company is required under U.S. GAAP to record an accrual for litigation loss contingencies that are both probable and reasonably estimable. Legal fees and expenses associated with the defense of all of the Company's litigation are expensed as such fees and expenses are incurred. Management regularly assesses the Company's insurance coverage, analyzes litigation information with the Company's attorneys and evaluates the Company's loss experience in connection with pending legal proceedings. While the Company does not presently believe that any of the legal proceedings to which it is currently a party will ultimately have a material adverse impact on the Company, there can be no assurance that the Company will prevail in all the proceedings the Company is party to, or that the Company will not incur material losses from them. Lease Guarantees In connection with the sale of Applebee’s restaurants to franchisees, the Company has, in certain cases, guaranteed or has potential continuing liability for lease payments totaling $212.0 million as of September 30, 2022. This amount represents the maximum potential liability for future payments under these leases. These leases have been assigned to the buyers and expire at the end of the respective lease terms, which range from 2022 through 2048. Excluding unexercised option periods, the Company's potential liability for future payments under these leases is $42.8 million. In the event of default, the indemnity and default clauses in the sale or assignment agreements govern the Company's ability to pursue and recover damages incurred.

Cash, Cash Equivalents and Restricted Cash

9 Months Ended

Sep. 30, 2022

Cash and Cash Equivalents [Abstract]

Cash, Cash Equivalents and Restricted Cash

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:


	September 30, 2022		December 31, 2021
	(In millions)
Money market funds	$	60.0	$	30.0
IHOP advertising funds and gift card programs	74.0		101.5
Other depository accounts	221.3		229.9
Total cash and cash equivalents	$	355.3	$	361.4

Current Restricted Cash

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:



	September 30, 2022		December 31, 2021
	(In millions)
Securitized debt reserves	$	31.0	$	29.9
Applebee's advertising funds	21.4		17.5
Other	0.1		0.1
Total current restricted cash	$	52.5	$	47.5

Non-current Restricted Cash

Non-current restricted cash was $16.4 million and $16.4 million at September 30, 2022 and December 31, 2021, respectively, and represents interest reserves required to be set aside for the duration of the Company's securitized debt.

Assets and Liabilities Held for Sale	9 Months Ended
Assets and Liabilities Held for Sale	Sep. 30, 2022
Discontinued Operations and Disposal Groups [Abstract]
Assets and Liabilities Held for Sale	Assets and Liabilities Held for Sale The Company classifies long-lived assets or disposal groups to be sold as held for sale when all of the following criteria for a plan of sale have been met: (1) management, having the authority to approve the action, commits to a plan to sell the assets; (2) the assets are available for immediate sale, in their present condition, subject only to terms that are usual and customary for sales of such assets; (3) an active program to locate a buyer and other actions required to complete the plan to sell the assets have been initiated; (4) the sale of the assets is probable and is expected to be completed within one year; (5) the assets are being actively marketed for a price that is reasonable in relation to their current fair value; and (6) actions required to complete the plan indicate that it is unlikely that significant changes to the plan will be made or the plan will be withdrawn. When all of these criteria have been met, the assets and liabilities are classified as held for sale in the balance sheet. Assets classified as held for sale are reported at the lower of their carrying value or fair value less costs to sell. Depreciation and amortization of assets ceases upon designation as held for sale. The assets and liabilities held for sale are recorded on the Company’s Consolidated Balance Sheets as assets held for sale and liabilities held for sale, respectively. On July 26, 2022, the Company entered into an agreement for the refranchising and sale of related restaurant assets of 69 Applebee’s company-operated restaurants located in North Carolina and South Carolina. Assets held for sale include $55.5 million of operating lease right-of-use assets, $43.9 million of property and equipment, $9.3 million in goodwill and other intangible assets, net and $1.7 million in other assets for Company-operated restaurants that the Company plans to sell within the next year to an existing franchisee. Liabilities held for sale include $95.4 million in lease obligations and $0.6 million in other liabilities. A loss of $1.1 million was recorded in closure and impairment charges on the Company's Consolidated Statements of Comprehensive Income during the three months ended September 30, 2022 and does not factor in any future royalty stream from the refranchising.

Subsequent Events	9 Months Ended
Subsequent Events	Sep. 30, 2022
Subsequent Events [Abstract]
Subsequent Events	Subsequent EventIn October 2022, the Company completed the refranchising and sale of related restaurant assets of 69 Applebee’s company-operated restaurants located in North Carolina and South Carolina.

Basis of Presentation (Policies)	9 Months Ended
Basis of Presentation (Policies)	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Fiscal Period	The Company’s fiscal quarters end on the Sunday closest to the last day of each calendar quarter. For convenience, the fiscal quarters of each year are referred to as ending on March 31, June 30, September 30 and December 31. The first fiscal quarter of 2022 began on January 3, 2022 and ended on April 3, 2022; the second and third fiscal quarters of 2022 ended on July 3, 2022 and October 2, 2022, respectively. The first fiscal quarter of 2021 began on January 4, 2021 and ended on April 4, 2021; the second and third fiscal quarters of 2021 ended on July 4, 2021 and October 3, 2021, respectively.
Risks and Uncertainties	Risks and Uncertainties The Company was subject to risks and uncertainties as a result of the continuing outbreak of a novel strain of coronavirus, designated “COVID-19,” and evolving variants thereof. The extent of the continued impact of the COVID-19 pandemic on the Company's business remains uncertain and difficult to predict, as measures taken in response to and the effect of the pandemic have varied and continue to vary by country, state and municipalities within states. The Company first began to experience impacts from the COVID-19 pandemic in March 2020, as federal, state, local and international governments reacted to the public health crisis by encouraging social distancing and requiring, in varying degrees, restaurant dine-in limitations and other restrictions that largely limited the restaurants of the Company's franchisees and its company-operated restaurants to take-out and delivery sales during the initial stages of the pandemic. Subsequently, government-imposed dine-in restrictions have been relaxed or removed in many of the locations in which the Company operates as incidents of infection decline and vaccination rates increase within the respective governmental jurisdictions. As of September 30, 2022, substantially all domestic Applebee's Neighborhood Grill & Bar® (“Applebee's”) and International House of Pancakes® (“IHOP”) were open and operating without government-mandated restrictions.
Accounting Standards Adopted and Newly Issued Accounting Standards Not Yet Adopted	Accounting Standards Adopted in the Current Fiscal Year In July 2021, the Financial Accounting Standards Board (“FASB”) issued guidance which affect lessors with lease contracts that (i) have variable lease payments that do not depend on a reference index or a rate and (ii) would have resulted in the recognition of a selling loss at lease commencement if classified as sales-type or direct financing. The amendments are effective for fiscal years beginning after December 15, 2021. Adoption did not have any material effect on the consolidated financial statements. Additional new accounting guidance became effective for the Company as of the beginning of fiscal 2022 that the Company reviewed and concluded was either not applicable to its operations or had no material effect on its consolidated financial statements in the current or future fiscal years. Newly Issued Accounting Standards Not Yet Adopted 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 its contracts that reference LIBOR and the potential effects of adopting this new guidance. 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 (Tables)

9 Months Ended

Sep. 30, 2022

Revenue from Contract with Customer [Abstract]

Schedule of Disaggregation of Revenue

The following table disaggregates franchise revenue by major type for the three and nine months ended September 30, 2022 and 2021:


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2022		2021		2022		2021
	(In thousands)
Franchise Revenue:
Royalties	$	76,418	$	75,098	$	229,666	$	217,499
Advertising fees	71,692		70,709		216,686		203,918
Pancake and waffle dry mix sales and other	14,563		12,782		41,571		37,197
Franchise and development fees	2,234		2,537		6,475		10,442
Total franchise revenue	$	164,907	$	161,126	$	494,398	$	469,056

Schedule of Changes in Deferred Revenue

Changes in the Company's contract liability for deferred franchise and development fees during the nine months ended September 30, 2022 were as follows:


	Deferred Franchise Revenue (short- and long-term)
	(In thousands)
Balance at December 31, 2021	$	53,346
Recognized as revenue during the nine months ended September 30, 2022	(6,169)
Fees deferred during the nine months ended September 30, 2022	2,396
Balance at September 30, 2022	$	49,573

Schedule of Remaining Performance Obligations

The balance of deferred revenue as of September 30, 2022 is expected to be recognized as follows:


	(In thousands)
2022 (remaining three months)	$	1,739
2023	6,950
2024	6,341
2025	5,559
2026	4,736
Thereafter	24,248
Total	$	49,573

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

9 Months Ended

Sep. 30, 2022

Credit Loss [Abstract]

Schedule of Accounts, Notes, Loans and Financing Receivable


	September 30, 2022		December 31, 2021
	(In millions)
Accounts receivable	$	61.5	$	63.6
Gift card receivables	6.2		33.4
Notes receivable	17.9		19.7
Financing receivables:
Equipment leases receivable	28.4		33.4
Real estate leases receivable	19.9		16.7


Other	8.5		7.6
	142.4		174.4
Less: allowance for credit losses	(9.7)		(11.9)
	132.7		162.5
Less: current portion	(89.5)		(120.0)
Long-term receivables	$	43.2	$	42.5

Schedule of Changes in Allowance for Credit Losses

Changes in the allowance for credit losses during the nine months ended September 30, 2022 were as follows:



	Accounts Receivable		Notes receivable, short-term		Notes receivable, long-term		Lease Receivables		Equipment Notes		Other (1)		Total
	(In millions)
Balance, December 31, 2021	$	1.0	$	3.8	$	6.6	$	0.2	$	0.1	$	0.2	$	11.9

Bad debt (credit) expense	(0.3)		1.0		(1.2)		(0.1)		0.1		0.0		(0.5)
Advertising provision adjustment	0.1		(0.5)		(0.2)		—		—		—		(0.6)
Write-offs	(0.2)		(0.7)		—		—		—		(0.2)		(1.1)
Recoveries	0.0		—		—		—		0.0		—		0.0
Balance, September 30, 2022	$	0.6	$	3.6	$	5.2	$	0.1	$	0.2	$	0.0	$	9.7

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

Schedule of Delinquency Status of Receivable

The delinquency status of receivables (other than accounts receivable, gift card receivables and distributor receivables) at September 30, 2022 was as follows:



	Notes receivable, short-term		Notes receivable, long-term		Lease Receivables		Equipment Notes		Other (1)		Total
	(In millions)
Current	$	4.4	$	11.9	$	19.9	$	28.4	$	2.3	$	66.9
30-59 days	0.0		—		—		—		—		0.0
60-89 days	0.0		—		—		—		—		0.0
90-119 days	0.1		—		—		—		—		0.1
120+ days	1.5		—		—		—		—		1.5
Total	$	6.0	$	11.9	$	19.9	$	28.4	$	2.3	$	68.5

(1) Primarily credit card receivables

Financing Receivable Credit Quality Indicators

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



	Notes receivable, short and long-term		Lease Receivables		Equipment Notes		Total
	(In millions)
2022	$	1.7	$	8.4	$	—	$	10.1
2021	10.7		2.6		—		13.3
2020	0.4		1.4		—		1.8
2019	0.0		0.8		—		0.8
2018	—		—		—		0.0
Prior	5.1		6.7		28.4		40.2
Total	$	17.9	$	19.9	$	28.4	$	66.2

Lease Disclosures (Tables)

9 Months Ended

Sep. 30, 2022

Leases [Abstract]

Schedule of Lease Cost

The Company's lease cost for the three and nine months ended September 30, 2022 and 2021 was as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
	(In millions)
Finance lease cost:
Amortization of right-of-use assets	$	0.7	$	1.1	$	2.9	$	3.5
Interest on lease liabilities	1.2		1.3		3.7		4.2
Operating lease cost(1)	21.5		20.9		63.8		63.3
Variable lease cost	2.1		4.5		5.7		5.2
Short-term lease cost	0.0		0.0		0.0		0.0
Sublease income	(26.8)		(28.8)		(79.9)		(78.0)
Lease (income) cost	$	(1.3)	$	(1.0)	$	(3.8)	$	(1.9)

Schedule of Operating Lease Liability Future Maturity

Future minimum lease payments under noncancelable leases as lessee as of September 30, 2022 were as follows:


	Finance Leases		Operating Leases
	(In millions)
2022 (remaining three months)	$	3.6	$	22.3
2023	12.1		71.1
2024	10.7		82.0
2025	9.2		70.1
2026	8.6		61.6
Thereafter	56.2		198.3
Total minimum lease payments	100.4		505.4
Less: interest/imputed interest	(28.3)		(98.4)
Total obligations	72.1		407.0
Less: current portion	(9.2)		(71.2)
Long-term lease obligations	$	62.9	$	335.8

Schedule of Finance Lease Liability Future Maturity

Future minimum lease payments under noncancelable leases as lessee as of September 30, 2022 were as follows:


	Finance Leases		Operating Leases
	(In millions)
2022 (remaining three months)	$	3.6	$	22.3
2023	12.1		71.1
2024	10.7		82.0
2025	9.2		70.1
2026	8.6		61.6
Thereafter	56.2		198.3
Total minimum lease payments	100.4		505.4
Less: interest/imputed interest	(28.3)		(98.4)
Total obligations	72.1		407.0
Less: current portion	(9.2)		(71.2)
Long-term lease obligations	$	62.9	$	335.8

Schedule of Lease Payments

During the three and nine months ended September 30, 2022 and 2021, the Company made the following cash payments for leases:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
	(In millions)
Principal payments on finance lease obligations	$	2.3	$	2.5	$	7.0	$	7.8
Interest payments on finance lease obligations	$	1.2	$	1.3	$	3.7	$	4.2
Payments on operating leases	$	23.7	$	22.9	$	70.0	$	68.7
Variable lease payments	$	1.8	$	4.4	$	5.7	$	5.0

Schedule of Operating Lease Income

The Company's income from operating leases for the three and nine months ended September 30, 2022 and 2021 was as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
	(In millions)
Minimum lease payments	$	24.1	$	23.9	$	71.9	$	71.7
Variable lease income	4.0		6.8		12.5		11.1
Total operating lease income	$	28.1	$	30.7	$	84.4	$	82.8

Schedule of Future Minimum Payments as a Lessor Under Operating Leases

Minimum payments to be received as lessor under noncancelable operating leases as of September 30, 2022 were as follows:



	(In millions)
2022 (remaining three months)	$	26.0
2023	101.7
2024	93.2
2025	80.6
2026	66.1
Thereafter	157.3
Total minimum rents receivable	$	524.9

Schedule of Direct Finance Lease Income

The Company's income from real estate leases receivables for the three and nine months ended September 30, 2022 and 2021 was as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
	(In millions)
Interest income	$	0.4	$	0.5	$	1.1	$	1.6
Variable lease income	0.1		0.1		0.5		0.4
Selling profit	0.5		—		1.0		—
Total real estate lease income	$	1.0	$	0.6	$	2.6	$	2.0

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

Minimum payments to be received as lessor under noncancelable real estate leases as of September 30, 2022 were as follows:



	(In millions)
2022 (remaining three months)	$	1.8
2023	4.7
2024	2.6
2025	1.8
2026	1.8
Thereafter	14.1
Total minimum rents receivable	26.8
Less: unearned income	(6.9)
Total net investment in real estate leases	19.9
Less: current portion	(4.4)
Long-term investment in real estate leases	$	15.5

Long-Term Debt (Tables)

9 Months Ended

Sep. 30, 2022

Debt Disclosure [Abstract]

Schedule of Debt

At September 30, 2022 and December 31, 2021, long-term debt consisted of the following:


	September 30, 2022		December 31, 2021
	(In millions)
Series 2019-1 4.194% Fixed Rate Senior Secured Notes, Class A-2-I	$	693.0	$	693.0
Series 2019-1 4.723% Fixed Rate Senior Secured Notes, Class A-2-II	594.0		594.0
Series 2022-1 Variable Funding Class A-1, variable interest rate of 5.50% at September 30, 2022	100.0		—
Debt issuance costs	(5.7)		(7.4)
Long-term debt, net of debt issuance costs	1,381.3		1,279.6
Current portion of long-term debt	(100.0)		—
Long-term debt	$	1,281.3	$	1,279.6

Stockholders' Deficit (Tables)

9 Months Ended

Sep. 30, 2022

Equity [Abstract]

Dividends Declared

Dividends declared and paid per share for the three and nine months ended September 30, 2022 and 2021 were as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Dividends declared per common share	$	0.51	$	—	$	1.48	$	—
Dividends paid per common share	$	1.02	$	—	$	1.88	$	—

Stock-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2022

Share-Based Payment Arrangement [Abstract]

Components of the Company’s Stock-Based Compensation Expense

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



	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Total stock-based compensation expense:	(In millions)
Equity classified awards expense	$	3.8	$	3.0	$	12.2	$	8.6
Liability classified awards expense	0.3		0.2		1.7		2.2
Total pre-tax stock-based compensation expense	4.1		3.2		13.9		10.8
Book income tax benefit	(1.1)		(0.8)		(3.5)		(2.7)
Total stock-based compensation expense, net of tax	$	3.0	$	2.4	$	10.4	$	8.1

Schedule of Stock Option Valuation Assumptions

The following table summarizes the assumptions used in the Black-Scholes model for stock options granted during the nine months ended September 30, 2022.


Risk-free interest rate	1.7	%
Historical volatility	70.1	%
Dividend yield	2.6	%
Expected years until exercise	4.5
Fair value of options granted	$33.23

Schedule of Stock Option Activity

Stock option balances at September 30, 2022, and activity for the nine months ended September 30, 2022 were as follows:


	Shares	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (in Years)	Aggregate Intrinsic Value (in Millions)
Outstanding at December 31, 2021	475,904	$	76.65
Granted	75,795	70.08
Exercised	(3,505)	68.80
Expired	(2,448)	94.43
Forfeited	(6,171)	81.13
Outstanding at September 30, 2022	539,575	75.65		6.2	$	1.3
Vested at September 30, 2022 and Expected to Vest	524,475	75.73		6.1	$	1.3
Exercisable at September 30, 2022	378,811	$	75.95	5.1	$	1.2

Schedule of Restricted Stock Unit Activity

Outstanding balances as of September 30, 2022, and activity related to restricted stock and restricted stock units for the nine months ended September 30, 2022 were as follows:


	Restricted Stock	Weighted Average Grant Date Fair Value		Stock-Settled Restricted Stock Units	Weighted Average Grant Date Fair Value
Outstanding at December 31, 2021	276,611	$	80.85	105,592	$	71.00
Granted	182,530	70.24		60,914	49.36
Released	(87,779)	88.35		(42,180)	66.46
Forfeited	(20,592)	77.24		—	—
Outstanding at September 30, 2022	350,770	$	73.67	124,326	$	62.18

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, 2021						12,799
Granted						67
Released						(12,866)

Outstanding at September 30, 2022						—

Net Income (Loss) per Share (Tables)

9 Months Ended

Sep. 30, 2022

Earnings Per Share [Abstract]

Computation of the Company’s Basic and Diluted Net Income per Share

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



	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
	(In thousands, except per share data)
Numerator for basic and diluted income per common share:
Net income	$	20,948	$	23,111	$	69,760	$	78,076
Less: Net income allocated to unvested participating restricted stock	(575)		(502)		(1,852)		(1,920)
Net income available to common stockholders - basic	20,373		22,609		67,908		76,156
Effect of unvested participating restricted stock in two-class calculation	—		2		3		13

Net income available to common stockholders - diluted	$	20,373	$	22,611	$	67,911	$	76,169
Denominator:
Weighted average outstanding shares of common stock - basic	15,377		16,911		16,049		16,752
Dilutive effect of stock options	26		60		30		106
Weighted average outstanding shares of common stock - diluted	15,403		16,971		16,079		16,858
Net income per common share:
Basic	$	1.32	$	1.34	$	4.23	$	4.55
Diluted	$	1.32	$	1.33	$	4.22	$	4.52

Segments (Tables)

9 Months Ended

Sep. 30, 2022

Segment Reporting [Abstract]

Schedule of Segment Reporting Information by Segment

Information on segments is as follows:



	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
	(In millions)
Revenues from external customers:

Franchise operations	$	164.9	$	161.2	$	494.4	$	469.1
Rental operations	29.2		31.3		87.1		84.8
Company restaurants	38.2		35.2		117.2		109.4
Financing operations	0.9		1.0		2.8		3.3
Total	$	233.2	$	228.7	$	701.4	$	666.5

Interest expense:

Rental operations	$	1.1	$	1.2	$	3.2	$	3.8
Company restaurants	0.7		0.8		2.4		2.4
Corporate	15.3		15.7		46.2		48.0
Total	$	17.1	$	17.7	$	51.8	$	54.2

Depreciation and amortization:

Franchise operations	$	2.5	$	2.5	$	7.5	$	7.6
Rental operations	2.7		2.8		8.0		8.3
Company restaurants	0.5		1.7		4.3		5.3
Corporate	3.2		3.0		9.1		8.8
Total	$	8.9	$	10.0	$	28.9	$	30.0

Gross profit (loss), by segment:

Franchise operations	$	84.6	$	85.5	$	253.8	$	249.2
Rental operations	7.2		6.8		21.1		18.8
Company restaurants	1.7		1.4		5.4		7.9
Financing operations	0.8		0.9		2.5		2.9
Total gross profit	94.3		94.6		282.8		278.8
Corporate and unallocated expenses, net	(65.6)		(63.8)		(187.4)		(185.4)
Income before income taxes	$	28.7	$	30.8	$	95.4	$	93.4

Closure and Impairment Charges (Tables)

9 Months Ended

Sep. 30, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Details of Impairment of Long-Lived Assets Held and Used by Asset

Closure and impairment charges for the three and nine months ended September 30, 2022 and 2021 were as follows:


Closure and Impairment Charges	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
	(In millions)
Closure charges	$	0.5	$	0.4	$	1.7	$	3.3
Long-lived tangible asset impairment	1.1		—		1.4		1.7



Total closure and impairment charges	$	1.6	$	0.4	$	3.1	$	5.0

Schedule of Restructuring Reserve by Type of Cost

Closure and impairment charges for the three and nine months ended September 30, 2022 and 2021 were as follows:


Closure and Impairment Charges	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
	(In millions)
Closure charges	$	0.5	$	0.4	$	1.7	$	3.3
Long-lived tangible asset impairment	1.1		—		1.4		1.7



Total closure and impairment charges	$	1.6	$	0.4	$	3.1	$	5.0

Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2022

Fair Value Disclosures [Abstract]

Fair Value of Non-Current Financial Liabilities

The fair values of the Company's 2019 Class A-2 Notes at September 30, 2022 and December 31, 2021 were as follows:


	September 30, 2022		December 31, 2021
	(In millions)
Face Value of Class A-2 Notes	$	1,287.0	$	1,287.0
Fair Value of Class A-2 Notes	$	1,213.7	$	1,312.9

Cash, Cash Equivalents and Restricted Cash (Tables)

9 Months Ended

Sep. 30, 2022

Cash and Cash Equivalents [Abstract]

Schedule of Cash and Cash Equivalents

The components of cash and cash equivalents were as follows:


	September 30, 2022		December 31, 2021
	(In millions)
Money market funds	$	60.0	$	30.0
IHOP advertising funds and gift card programs	74.0		101.5
Other depository accounts	221.3		229.9
Total cash and cash equivalents	$	355.3	$	361.4

Restrictions on Cash and Cash Equivalents

The components of current restricted cash were as follows:



	September 30, 2022		December 31, 2021
	(In millions)
Securitized debt reserves	$	31.0	$	29.9
Applebee's advertising funds	21.4		17.5
Other	0.1		0.1
Total current restricted cash	$	52.5	$	47.5

Revenue Disclosures - Disaggregation of Franchise Revenue by Major Type (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Franchise Revenue:
Disaggregation of Revenue [Line Items]
Total franchise revenue	$ 164,907	$ 161,126	$ 494,398	$ 469,056
Royalties
Disaggregation of Revenue [Line Items]
Total franchise revenue	76,418	75,098	229,666	217,499
Advertising fees
Disaggregation of Revenue [Line Items]
Total franchise revenue	71,692	70,709	216,686	203,918
Pancake and waffle dry mix sales and other
Disaggregation of Revenue [Line Items]
Total franchise revenue	14,563	12,782	41,571	37,197
Franchise and development fees
Disaggregation of Revenue [Line Items]
Total franchise revenue	$ 2,234	$ 2,537	$ 6,475	$ 10,442

- Definition

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

+ References

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

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

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

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

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

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

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

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

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

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

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

+ Details

Revenue Disclosures - Narrative (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Deferred franchise revenue, short-term	$ 7,000	$ 7,200
Receivables from Franchise Revenue Transactions
Accounts, Notes, Loans and Financing Receivable [Line Items]
Billed and unbilled receivables	65,400	66,000
Billed and unbilled receivables, accumulated allowance for credit loss	$ 600	$ 1,100

Revenue Disclosures - Changes in the Company's Contract Liability for Deferred Franchise and Development Fees (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2022 USD ($)
Change in Contract with Customer, Liability [Roll Forward]
Balance at December 31, 2021	$ 53,346
Recognized as revenue during the nine months ended September 30, 2022	(6,169)
Fees deferred during the nine months ended September 30, 2022	2,396
Balance at September 30, 2022	$ 49,573

Revenue Disclosures - Deferred Revenue Expected to be Recognized (Details) $ in Thousands	Sep. 30, 2022 USD ($)
Revenue from Contract with Customer [Abstract]
Performance obligations expected to be satisfied	$ 49,573
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations expected to be satisfied	49,573
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-10-01
Revenue from Contract with Customer [Abstract]
Performance obligations expected to be satisfied	1,739
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations expected to be satisfied	$ 1,739
Performance obligations expected to be satisfied, expected timing	3 months
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	$ 6,950
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations expected to be satisfied	$ 6,950
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	$ 6,341
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations expected to be satisfied	$ 6,341
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	$ 5,559
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations expected to be satisfied	$ 5,559
Performance obligations expected to be satisfied, expected timing	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01
Revenue from Contract with Customer [Abstract]
Performance obligations expected to be satisfied	$ 4,736
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations expected to be satisfied	$ 4,736
Performance obligations expected to be satisfied, expected timing	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01
Revenue from Contract with Customer [Abstract]
Performance obligations expected to be satisfied	$ 24,248
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations expected to be satisfied	$ 24,248
Performance obligations expected to be satisfied, expected timing

Current Expected Credit Losses ("CECL") - Narrative (Details) $ in Millions	Sep. 30, 2022 USD ($) lease
Financing Receivable, Allowance for Credit Loss [Line Items]
Operating lease, weighted average remaining lease term	7 years 2 months 12 days
Finance lease, weighted average remaining lease term	10 years
Notes Receivable \| Applebee's
Financing Receivable, Allowance for Credit Loss [Line Items]
Accounts and financing receivable, allowance for credit loss \| $	$ 8.8
Equipment Notes
Financing Receivable, Allowance for Credit Loss [Line Items]
Operating lease, weighted average remaining lease term	4 years 1 month 6 days
Lease Receivables
Financing Receivable, Allowance for Credit Loss [Line Items]
Number of properties subject to ground leases \| lease	56
Finance lease, weighted average remaining lease term	9 years 10 months 24 days

Current Expected Credit Losses ("CECL") - Components of Receivables (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable	$ 61,500	$ 63,600
Gift card receivables	6,200	33,400
Notes receivable	17,900	19,700
Financing receivables	68,500
Accounts and financing receivable, before allowance for credit loss	142,400	174,400
Less: allowance for credit losses	(9,700)	(11,900)
Accounts and financing receivable, after allowance for credit loss	132,700	162,500
Less: current portion	(89,529)	(119,968)
Long-term receivables	43,200	42,500
Equipment leases receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivables	28,400	33,400
Real estate leases receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivables	19,900	16,700
Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivables	$ 8,500	$ 7,600

Current Expected Credit Losses ("CECL") - Changes in the Allowance for Credit Losses (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance, December 31, 2021			$ 11,900
Bad debt (credit) expense	$ (77)	$ (1,962)	(523)	$ (4,246)
Advertising provision adjustment			(600)
Write-offs			(1,100)
Recoveries			0
Balance, September 30, 2022	9,700		9,700
Accounts Receivable
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance, December 31, 2021			1,000
Bad debt (credit) expense			(300)
Advertising provision adjustment			100
Write-offs			(200)
Recoveries			0
Balance, September 30, 2022	600		600
Notes receivable, short-term
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance, December 31, 2021			3,800
Bad debt (credit) expense			1,000
Advertising provision adjustment			(500)
Write-offs			(700)
Recoveries			0
Balance, September 30, 2022	3,600		3,600
Notes receivable, long-term
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance, December 31, 2021			6,600
Bad debt (credit) expense			(1,200)
Advertising provision adjustment			(200)
Write-offs			0
Recoveries			0
Balance, September 30, 2022	5,200		5,200
Lease Receivables
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance, December 31, 2021			200
Bad debt (credit) expense			(100)
Advertising provision adjustment			0
Write-offs			0
Recoveries			0
Balance, September 30, 2022	100		100
Equipment Notes
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance, December 31, 2021			100
Bad debt (credit) expense			100
Advertising provision adjustment			0
Write-offs			0
Recoveries			0
Balance, September 30, 2022	200		200
Other
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance, December 31, 2021			200
Bad debt (credit) expense			0
Advertising provision adjustment			0
Write-offs			(200)
Recoveries			0
Balance, September 30, 2022	$ 0		$ 0

Current Expected Credit Losses ("CECL") - Delinquency Status of Receivables (Details) $ in Millions	Sep. 30, 2022 USD ($)
Financing Receivable, Past Due [Line Items]
Financing receivables	$ 68.5
Current
Financing Receivable, Past Due [Line Items]
Financing receivables	66.9
30-59 days
Financing Receivable, Past Due [Line Items]
Financing receivables	0.0
60-89 days
Financing Receivable, Past Due [Line Items]
Financing receivables	0.0
90-119 days
Financing Receivable, Past Due [Line Items]
Financing receivables	0.1
120+ days
Financing Receivable, Past Due [Line Items]
Financing receivables	1.5
Notes receivable, short-term
Financing Receivable, Past Due [Line Items]
Financing receivables	6.0
Notes receivable, short-term \| Current
Financing Receivable, Past Due [Line Items]
Financing receivables	4.4
Notes receivable, short-term \| 30-59 days
Financing Receivable, Past Due [Line Items]
Financing receivables	0.0
Notes receivable, short-term \| 60-89 days
Financing Receivable, Past Due [Line Items]
Financing receivables	0.0
Notes receivable, short-term \| 90-119 days
Financing Receivable, Past Due [Line Items]
Financing receivables	0.1
Notes receivable, short-term \| 120+ days
Financing Receivable, Past Due [Line Items]
Financing receivables	1.5
Notes receivable, long-term
Financing Receivable, Past Due [Line Items]
Financing receivables	11.9
Notes receivable, long-term \| Current
Financing Receivable, Past Due [Line Items]
Financing receivables	11.9
Notes receivable, long-term \| 30-59 days
Financing Receivable, Past Due [Line Items]
Financing receivables	0.0
Notes receivable, long-term \| 60-89 days
Financing Receivable, Past Due [Line Items]
Financing receivables	0.0
Notes receivable, long-term \| 90-119 days
Financing Receivable, Past Due [Line Items]
Financing receivables	0.0
Notes receivable, long-term \| 120+ days
Financing Receivable, Past Due [Line Items]
Financing receivables	0.0
Lease Receivables
Financing Receivable, Past Due [Line Items]
Financing receivables	19.9
Lease Receivables \| Current
Financing Receivable, Past Due [Line Items]
Financing receivables	19.9
Lease Receivables \| 30-59 days
Financing Receivable, Past Due [Line Items]
Financing receivables	0.0
Lease Receivables \| 60-89 days
Financing Receivable, Past Due [Line Items]
Financing receivables	0.0
Lease Receivables \| 90-119 days
Financing Receivable, Past Due [Line Items]
Financing receivables	0.0
Lease Receivables \| 120+ days
Financing Receivable, Past Due [Line Items]
Financing receivables	0.0
Equipment Notes
Financing Receivable, Past Due [Line Items]
Financing receivables	28.4
Equipment Notes \| Current
Financing Receivable, Past Due [Line Items]
Financing receivables	28.4
Equipment Notes \| 30-59 days
Financing Receivable, Past Due [Line Items]
Financing receivables	0.0
Equipment Notes \| 60-89 days
Financing Receivable, Past Due [Line Items]
Financing receivables	0.0
Equipment Notes \| 90-119 days
Financing Receivable, Past Due [Line Items]
Financing receivables	0.0
Equipment Notes \| 120+ days
Financing Receivable, Past Due [Line Items]
Financing receivables	0.0
Other
Financing Receivable, Past Due [Line Items]
Financing receivables	2.3
Other \| Current
Financing Receivable, Past Due [Line Items]
Financing receivables	2.3
Other \| 30-59 days
Financing Receivable, Past Due [Line Items]
Financing receivables	0.0
Other \| 60-89 days
Financing Receivable, Past Due [Line Items]
Financing receivables	0.0
Other \| 90-119 days
Financing Receivable, Past Due [Line Items]
Financing receivables	0.0
Other \| 120+ days
Financing Receivable, Past Due [Line Items]
Financing receivables	$ 0.0

Current Expected Credit Losses ("CECL") - Year of Origination of Notes and Financing Receivables (Details) $ in Millions	Sep. 30, 2022 USD ($)
Financing Receivable, Credit Quality Indicator [Line Items]
Total	$ 68.5
Total
Financing Receivable, Credit Quality Indicator [Line Items]
2022	10.1
2021	13.3
2020	1.8
2019	0.8
2018	0.0
Prior	40.2
Total	66.2
Notes receivable, short and long-term
Financing Receivable, Credit Quality Indicator [Line Items]
2022	1.7
2021	10.7
2020	0.4
2019	0.0
2018	0.0
Prior	5.1
Total	17.9
Lease Receivables
Financing Receivable, Credit Quality Indicator [Line Items]
2022	8.4
2021	2.6
2020	1.4
2019	0.8
2018	0.0
Prior	6.7
Total	19.9
Equipment Notes
Financing Receivable, Credit Quality Indicator [Line Items]
2022	0.0
2021	0.0
2020	0.0
2019	0.0
2018	0.0
Prior	28.4
Total	$ 28.4

Lease Disclosures - Narrative (Details)	Sep. 30, 2022 lease restaurant
Lessee, Lease, Description [Line Items]
Number of company-operated restaurants located on leased real estate properties	69
Lessor, number of leases requiring additional rent payments based on a percentage of restaurant sales \| lease	290
Lessee, number of leases requiring additional rent payments based on a percentage of restaurant sales \| lease	65
Finance lease, weighted average remaining lease term	10 years
Operating lease, weighted average remaining lease term	7 years 2 months 12 days
Finance lease, weighted average discount rate, percent	9.80%
Operating lease, weighted average discount rate, percent	5.50%
IHOP
Lessee, Lease, Description [Line Items]
Number of franchisee-operated restaurants	530
Number of properties leased	50
Lessee, operating lease, renewal term	5 years
IHOP \| Minimum
Lessee, Lease, Description [Line Items]
Lessee, operating lease, term of contract	20 years
IHOP \| Maximum
Lessee, Lease, Description [Line Items]
Lessee, operating lease, term of contract	25 years
Applebee's
Lessee, Lease, Description [Line Items]
Number of franchisee-operated restaurants	1
Number of properties leased	1
Applebee's \| Minimum
Lessee, Lease, Description [Line Items]
Lessee, operating lease, term of contract	10 years
Lessee, operating lease, renewal term	5 years
Applebee's \| Maximum
Lessee, Lease, Description [Line Items]
Lessee, operating lease, term of contract	20 years
Lessee, operating lease, renewal term	20 years

Lease Disclosures - Components of Lease Cost (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Finance lease cost:
Amortization of right-of-use assets	$ 0.7	$ 1.1	$ 2.9	$ 3.5
Interest on lease liabilities	1.2	1.3	3.7	4.2
Operating lease cost	21.5	20.9	63.8	63.3
Variable lease cost	2.1	4.5	5.7	5.2
Short-term lease cost	0.0	0.0	0.0	0.0
Sublease income	(26.8)	(28.8)	(79.9)	(78.0)
Lease (income) cost	$ (1.3)	(1.0)	$ (3.8)	(1.9)
Previously Reported
Finance lease cost:
Operating lease cost		$ 24.4		$ 74.2

Lease Disclosures - Future Minimum Lease Payments Under Noncancelable Leases as Lessee (Details) $ in Millions	Sep. 30, 2022 USD ($)
Finance Leases
2022 (remaining three months)	$ 3.6
2023	12.1
2024	10.7
2025	9.2
2026	8.6
Thereafter	56.2
Total minimum lease payments	100.4
Less: interest/imputed interest	(28.3)
Total obligations	72.1
Less: current portion	(9.2)
Long-term lease obligations	62.9
Operating Leases
2022 (remaining three months)	22.3
2023	71.1
2024	82.0
2025	70.1
2026	61.6
Thereafter	198.3
Total minimum lease payments	505.4
Less: interest/imputed interest	(98.4)
Total obligations	407.0
Less: current portion	(71.2)
Long-term lease obligations	$ 335.8

Lease Disclosures - Payment for Leases (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Leases [Abstract]
Principal payments on finance lease obligations	$ 2,300	$ 2,500	$ 7,001	$ 7,772
Interest payments on finance lease obligations	1,200	1,300	3,700	4,200
Payments on operating leases	23,700	22,900	70,000	68,700
Variable lease payments	$ 1,800	$ 4,400	$ 5,700	$ 5,000

Lease Disclosures - Components of Lease Income (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Leases [Abstract]
Minimum lease payments	$ 24.1	$ 23.9	$ 71.9	$ 71.7
Variable lease income	4.0	6.8	12.5	11.1
Total operating lease income	$ 28.1	$ 30.7	$ 84.4	$ 82.8

Lease Disclosures - Future Minimum Payments to be Received as Lessor Under Noncancelable Operating Leases (Details) $ in Millions	Sep. 30, 2022 USD ($)
Leases [Abstract]
2022 (remaining three months)	$ 26.0
2023	101.7
2024	93.2
2025	80.6
2026	66.1
Thereafter	157.3
Total minimum rents receivable	$ 524.9

Lease Disclosures - Schedule of Income From Direct Financing Leases (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Leases [Abstract]
Interest income	$ 0.4	$ 0.5	$ 1.1	$ 1.6
Variable lease income	0.1	0.1	0.5	0.4
Selling profit	0.5	0.0	1.0	0.0
Total real estate lease income	$ 1.0	$ 0.6	$ 2.6	$ 2.0

Lease Disclosures - Future Minimum Payments to be Received as Lessor Under Noncancelable Direct Financing Leases (Details) $ in Millions	Sep. 30, 2022 USD ($)
Leases [Abstract]
2022 (remaining three months)	$ 1.8
2023	4.7
2024	2.6
2025	1.8
2026	1.8
Thereafter	14.1
Total minimum rents receivable	26.8
Less: unearned income	(6.9)
Total net investment in real estate leases	19.9
Less: current portion	(4.4)
Long-term investment in real estate leases	$ 15.5

Long-Term Debt - Schedule of Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021	Jun. 05, 2019
Debt Instrument [Line Items]
Debt issuance costs	$ (5,700)	$ (7,400)
Long-term debt, net of debt issuance costs	1,381,300	1,279,600
Current portion of long-term debt	(100,000)	0
Long-term debt	$ 1,281,318	$ 1,279,623
Series 2019-1 4.194% Fixed Rate Senior Secured Notes, Class A-2-I
Debt Instrument [Line Items]
Debt interest rate (percent)	4.194%	4.194%	4.194%
Senior notes	$ 693,000	$ 693,000
Series 2019-1 4.723% Fixed Rate Senior Secured Notes, Class A-2-II
Debt Instrument [Line Items]
Debt interest rate (percent)	4.723%	4.723%	4.723%
Senior notes	$ 594,000	$ 594,000
Series 2022-1 Variable Funding Class A-1, variable interest rate of 5.50% at September 30, 2022
Debt Instrument [Line Items]
Debt interest rate (percent)	5.50%
Senior notes	$ 100,000	$ 0

Long-Term Debt - Narrative (Details)		1 Months Ended		3 Months Ended		9 Months Ended
Long-Term Debt - Narrative (Details)	Jun. 05, 2019 USD ($) extensionTerm Rate	Aug. 31, 2022 USD ($) renewalPeriod	Mar. 31, 2020 USD ($)	Sep. 30, 2022 USD ($) Rate	Sep. 30, 2021 USD ($)	Sep. 30, 2022 USD ($) Rate	Sep. 30, 2021 USD ($)	Aug. 12, 2022 USD ($)	Dec. 31, 2021 USD ($)
Debt Instrument [Line Items]
Ratio of indebtedness to net capital \| Rate				390.00%		390.00%
Threshold percentage				50.00%		50.00%
DSCR less than 1.75x - Cash Flow Sweeping Event \| Rate				175.00%		175.00%
DSCR less than 1.20x - Rapid Amortization Event \| Rate				120.00%		120.00%
Interest-only DSCR less than 1.20x - Manager Termination Event \| Rate				120.00%		120.00%
Interest-only DSCR less than 1.10x - Default Event \| Rate				110.00%		110.00%
Debt service coverage ratio \| Rate				415.00%		415.00%
Loss on extinguishment of debt				$ (1,161,000)	$ (9,000)	$ (1,161,000)	$ (34,000)
Series 2019-1 4.723% Fixed Rate Senior Secured Notes, Class A-2-II and Series 2019-1 4.194% Fixed Rate Senior Secured Notes, Class A-2-I
Debt Instrument [Line Items]
Number of tranches issued \| extensionTerm	2
Series 2019-1 4.194% Fixed Rate Senior Secured Notes, Class A-2-I
Debt Instrument [Line Items]
Debt interest rate (percent)	4.194%			4.194%		4.194%			4.194%
Debt instrument, face amount	$ 700,000,000
Make-whole premium				$ 0		$ 0
Series 2019-1 4.194% Fixed Rate Senior Secured Notes, Class A-2-I \| Ten Year United States Treasury Bill Rate
Debt Instrument [Line Items]
Basis spread on variable rate	2.15%
Series 2019-1 4.723% Fixed Rate Senior Secured Notes, Class A-2-II
Debt Instrument [Line Items]
Debt interest rate (percent)	4.723%			4.723%		4.723%			4.723%
Debt instrument, face amount	$ 600,000,000
Make-whole premium				$ 500,000		$ 500,000
Series 2019-1 4.723% Fixed Rate Senior Secured Notes, Class A-2-II \| Ten Year United States Treasury Bill Rate
Debt Instrument [Line Items]
Basis spread on variable rate	2.64%
Series 2022-1 Variable Funding Class A-1, variable interest rate of 5.50% at September 30, 2022
Debt Instrument [Line Items]
Debt interest rate (percent)				5.50%		5.50%
Letters of credit outstanding, amount				$ 3,400,000		$ 3,400,000
Line of credit facility, current borrowing capacity				221,600,000		$ 221,600,000
Series 2022-1 Variable Funding Class A-1, variable interest rate of 5.50% at September 30, 2022 \| Revolving Credit Facility
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity		$ 325,000,000						$ 325,000,000
Proceeds from credit facility		$ 100,000,000
Number of renewal periods \| renewalPeriod		2
Renewal period term		1 year
Interest rate percentage after renewal date						5.00%
Unamortized debt issuance cost				6,100,000		$ 6,100,000
Amortization of debt issuance costs				100,000		100,000
Debt issuance costs, gross		$ 6,300,000
Series 2022-1 Variable Funding Class A-1, variable interest rate of 5.50% at September 30, 2022 \| Revolving Credit Facility \| Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Debt Instrument [Line Items]
Basis spread on variable rate		2.50%
Series 2022-1 Variable Funding Class A-1, variable interest rate of 5.50% at September 30, 2022 \| Letter of Credit \| Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate		2.00%
Series 2022-1 Variable Funding Class A-1, variable interest rate of 5.50% at September 30, 2022 \| Letter of Credit \| Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Debt Instrument [Line Items]
Basis spread on variable rate		0.50%
Series 2022-1 Variable Funding Class A-1, variable interest rate of 5.50% at September 30, 2022 \| Letter of Credit \| Federal Funds Rate
Debt Instrument [Line Items]
Basis spread on variable rate		0.50%
Series 2022-1 Variable Funding Class A-1, variable interest rate of 5.50% at September 30, 2022 \| Revolving Credit Facility
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity				225,000,000		225,000,000
Line of credit facility, terminated amount								$ 225,000,000
Proceeds from credit facility			$ 220,000,000
Repayments of long-term lines of credit			$ 220,000,000
Long-term line of credit									$ 0
Loss on extinguishment of debt				(1,200,000)
Amortization of debt issuance costs				0	200,000	400,000	500,000
2019 Class A-2 Notes
Debt Instrument [Line Items]
Additional interest on fixed rate	5.00%
Debt instrument, term	10 years
Quarterly principal payment	$ 3,250,000					3,250,000
Covenant compliance, leverage ratio, maximum \| Rate	525.00%
Unamortized debt issuance cost				5,700,000		5,700,000
Amortization of debt issuance costs				600,000	$ 600,000	1,700,000	$ 1,700,000
Annual principal payment				$ 13,000,000		$ 13,000,000
2019 Class A-2 Notes \| Maximum
Debt Instrument [Line Items]
Ratio of indebtedness to net capital \| Rate				525.00%		525.00%

Stockholders' Deficit - Dividends Declared and Paid per Share (Details) - $ / shares					3 Months Ended		9 Months Ended
	Sep. 09, 2022	May 12, 2022	Feb. 17, 2022	Oct. 28, 2021	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Equity [Abstract]
Dividends declared per common share (USD per share)	$ 0.51	$ 0.51	$ 0.46	$ 0.40	$ 0.51	$ 0	$ 1.48	$ 0
Dividends paid per common share (USD per share)					$ 1.02	$ 0	$ 1.88	$ 0

Stockholders' Deficit - Narrative (Details) - USD ($)					3 Months Ended		9 Months Ended		38 Months Ended
Stockholders' Deficit - Narrative (Details) - USD ($)	Sep. 09, 2022	May 12, 2022	Feb. 17, 2022	Oct. 28, 2021	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Mar. 31, 2022	Feb. 28, 2019
Equity, Class of Treasury Stock [Line Items]
Dividends declared per common share (USD per share)	$ 0.51	$ 0.51	$ 0.46	$ 0.40	$ 0.51	$ 0	$ 1.48	$ 0
Purchase of common stock (in shares)					140,997		1,642,097
Purchase of Company common stock					$ 9,520,000		$ 113,573,000
Reissuance of treasure stock (in shares)							186,035
Reissuance of treasury stock					$ 0	$ 2,505,000	$ 241,000	$ 25,016,000
Treasury Stock
Equity, Class of Treasury Stock [Line Items]
Reissuance of treasury stock							$ 8,700,000
2019 Repurchase Program
Equity, Class of Treasury Stock [Line Items]
Stock repurchase program, authorized amount										$ 200,000,000
Purchase of common stock (in shares)							588,108		588,108
Purchase of Company common stock							$ 41,400,000		$ 41,400,000
2022 Repurchase Program
Equity, Class of Treasury Stock [Line Items]
Stock repurchase program, authorized amount			$ 250,000,000
Purchase of common stock (in shares)							1,053,989
Purchase of Company common stock							$ 72,100,000

Income Taxes - Narrative (Details) - USD ($) $ in Millions	9 Months Ended
Income Taxes - Narrative (Details) - USD ($) $ in Millions	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Effective income tax rate (percent)	26.90%	16.40%
Gross unrecognized tax benefit	$ 2.2		$ 1.9
Expected change in unrecognized tax benefits	0.3
Accrued interest on income taxes	0.7		0.6
Accrued penalties on income taxes, less than	$ 0.1		$ 0.1

Stock-Based Compensation - Components of Stock-Based Compensation Expense (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Share-Based Payment Arrangement [Abstract]
Equity classified awards expense	$ 3.8	$ 3.0	$ 12.2	$ 8.6
Liability classified awards expense	0.3	0.2	1.7	2.2
Total pre-tax stock-based compensation expense	4.1	3.2	13.9	10.8
Book income tax benefit	(1.1)	(0.8)	(3.5)	(2.7)
Total stock-based compensation expense, net of tax	$ 3.0	$ 2.4	$ 10.4	$ 8.1

Stock-Based Compensation - Narrative (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 4,100,000	$ 3,200,000	$ 13,900,000	$ 10,800,000
Accrued employee compensation and benefits	20,786,000		20,786,000		$ 40,785,000
Restricted Stock and Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total compensation cost not yet recognized	19,700,000		$ 19,700,000
Total compensation cost not yet recognized, period for recognition (in years)			1 year 6 months
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total compensation cost not yet recognized	3,300,000		$ 3,300,000
Total compensation cost not yet recognized, period for recognition (in years)			1 year 6 months
Cash-Settled Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	0	100,000	$ 200,000	1,500,000
Accrued employee compensation and benefits	0		0		900,000
LTIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	200,000	$ 200,000	1,500,000	$ 700,000
Accrued employee compensation and benefits	$ 2,400,000		$ 2,400,000		$ 1,500,000
Award vesting period (in years)			3 years
LTIP \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Multiplier for target award based on total shareholder return on common stock (percent)			0.00%
LTIP \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Multiplier for target award based on total shareholder return on common stock (percent)			200.00%

Stock-Based Compensation - Weighted Average Assumptions of Options Value (Details) - Stock Options	9 Months Ended
	Sep. 30, 2022 $ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate	1.70%
Historical volatility	70.10%
Dividend yield	2.60%
Expected years until exercise	4 years 6 months
Fair value of options granted (USD per share)	$ 33.23

Stock-Based Compensation - Stock Option Activity (Details) $ / shares in Units, $ in Millions	9 Months Ended
	Sep. 30, 2022 USD ($) $ / shares shares
Shares
Outstanding, beginning of period (in shares) \| shares	475,904
Granted (in shares) \| shares	75,795
Exercised (in shares) \| shares	(3,505)
Expired (in shares) \| shares	(2,448)
Forfeited (in shares) \| shares	(6,171)
Outstanding, end of period (in shares) \| shares	539,575
Vested and expected to vest (in shares) \| shares	524,475
Exercisable (in shares) \| shares	378,811
Weighted Average Exercise Price
Beginning of period (USD per share) \| $ / shares	$ 76.65
Granted (USD per share) \| $ / shares	70.08
Exercised (USD per share) \| $ / shares	68.80
Expired (USD per share) \| $ / shares	94.43
Forfeited (USD per share) \| $ / shares	81.13
End of period (USD per share) \| $ / shares	75.65
Vested and expected to vest (USD per share) \| $ / shares	75.73
Exercisable (USD per share) \| $ / shares	$ 75.95
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Weighted average remaining contractual term (in years)	6 years 2 months 12 days
Weighted average remaining contractual term, vested and expected to vest (in years)	6 years 1 month 6 days
Weighted average remaining contractual term, exercisable (in years)	5 years 1 month 6 days
Options, outstanding, intrinsic value \| $	$ 1.3
Options, vested and expected to vest, intrinsic value \| $	1.3
Options, vested and expected to vest, exercisable \| $	$ 1.2

Stock-Based Compensation - Restricted Stock Activity (Details)	9 Months Ended
	Sep. 30, 2022 $ / shares shares
Restricted Stock
Granted (in shares) \| shares	60,914
Restricted Stock
Restricted Stock
Beginning of period (in shares) \| shares	276,611
Granted (in shares) \| shares	182,530
Released (in shares) \| shares	(87,779)
Forfeited (in shares) \| shares	(20,592)
End of period (in shares) \| shares	350,770
Weighted Average Grant Date Fair Value
Beginning balance (USD per share) \| $ / shares	$ 80.85
Granted (USD per share) \| $ / shares	70.24
Released (USD per share) \| $ / shares	88.35
Forfeited (USD per share) \| $ / shares	77.24
Ending balance (USD per share) \| $ / shares	$ 73.67
Stock-Settled Restricted Stock Units
Restricted Stock
Beginning of period (in shares) \| shares	105,592
Released (in shares) \| shares	(42,180)
Forfeited (in shares) \| shares	0
End of period (in shares) \| shares	124,326
Weighted Average Grant Date Fair Value
Beginning balance (USD per share) \| $ / shares	$ 71.00
Granted (USD per share) \| $ / shares	49.36
Released (USD per share) \| $ / shares	66.46
Forfeited (USD per share) \| $ / shares	0
Ending balance (USD per share) \| $ / shares	$ 62.18

Stock-Based Compensation - Liability Classified Awards - Cash-settled Restricted Stock Units (Details)	9 Months Ended
	Sep. 30, 2022 shares
Restricted Stock
Granted (in shares)	60,914
Cash-Settled Restricted Stock Units
Restricted Stock
Beginning of period (in shares)	12,799
Granted (in shares)	67
Released (in shares)	(12,866)
End of period (in shares)	0

Net Income (Loss) per Share - Computation of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Numerator for basic and diluted income per common share:
Net income	$ 20,948	$ 23,111	$ 69,760	$ 78,076
Less: Net income allocated to unvested participating restricted stock	(575)	(502)	(1,852)	(1,920)
Net income available to common stockholders	20,373	22,609	67,908	76,156
Effect of unvested participating restricted stock in two-class calculation	0	2	3	13
Net income available to common stockholders - diluted	$ 20,373	$ 22,611	$ 67,911	$ 76,169
Denominator:
Weighted average outstanding shares of common stock - basic (in shares)	15,377	16,911	16,049	16,752
Dilutive effect of stock options (in shares)	26	60	30	106
Weighted average outstanding shares of common stock - diluted (in shares)	15,403	16,971	16,079	16,858
Net income per common share:
Net income per common share - basic (USD per share)	$ 1.32	$ 1.34	$ 4.23	$ 4.55
Net income per common share - diluted (USD per share)	$ 1.32	$ 1.33	$ 4.22	$ 4.52

Segments - Narrative (Details)	9 Months Ended
Segments - Narrative (Details)	Sep. 30, 2022 restaurant segment territory country
Franchisor Disclosure [Line Items]
Number of operating segments (segment) \| segment	5
Number of reportable segments (segment) \| segment	4
Applebee's
Franchisor Disclosure [Line Items]
Number of territories in which entity operates (territory) \| territory	2
Number of countries in which entity operates (country) \| country	11
IHOP
Franchisor Disclosure [Line Items]
Number of territories in which entity operates (territory) \| territory	2
Number of countries in which entity operates (country) \| country	8
Franchised Units \| Applebee's
Franchisor Disclosure [Line Items]
Number of restaurants (restaurant)	1,601
Franchised Units \| IHOP
Franchisor Disclosure [Line Items]
Number of restaurants (restaurant)	1,766
Entity Operated Units \| Applebee's
Franchisor Disclosure [Line Items]
Number of restaurants (restaurant)	69

Segments - Schedule of Segment Reporting Information by Segment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Segment Reporting Information [Line Items]
Rental revenues	$ 29,207	$ 31,273	$ 87,080	$ 84,797
Total revenues	233,220	228,719	701,437	666,537
Interest expense	17,100	17,700	51,800	54,200
Depreciation and amortization	8,900	10,000	28,870	29,995
Pretax book income (loss)	28,737	30,772	95,425	93,444
Operating Segments
Segment Reporting Information [Line Items]
Pretax book income (loss)	94,300	94,600	282,800	278,800
Corporate
Segment Reporting Information [Line Items]
Interest expense	15,300	15,700	46,200	48,000
Depreciation and amortization	3,200	3,000	9,100	8,800
Pretax book income (loss)	(65,600)	(63,800)	(187,400)	(185,400)
Franchise operations \| Operating Segments
Segment Reporting Information [Line Items]
Depreciation and amortization	2,500	2,500	7,500	7,600
Pretax book income (loss)	84,600	85,500	253,800	249,200
Rental operations \| Operating Segments
Segment Reporting Information [Line Items]
Rental revenues	29,200	31,300	87,100	84,800
Interest expense	1,100	1,200	3,200	3,800
Depreciation and amortization	2,700	2,800	8,000	8,300
Pretax book income (loss)	7,200	6,800	21,100	18,800
Company restaurants \| Operating Segments
Segment Reporting Information [Line Items]
Interest expense	700	800	2,400	2,400
Depreciation and amortization	500	1,700	4,300	5,300
Pretax book income (loss)	1,700	1,400	5,400	7,900
Financing operations \| Operating Segments
Segment Reporting Information [Line Items]
Pretax book income (loss)	800	900	2,500	2,900
Franchise Revenue:
Segment Reporting Information [Line Items]
Revenue from contract with customer	164,907	161,126	494,398	469,056
Franchise Revenue: \| Franchise operations \| Operating Segments
Segment Reporting Information [Line Items]
Revenue from contract with customer	164,900	161,200	494,400	469,100
Company restaurants
Segment Reporting Information [Line Items]
Revenue from contract with customer	38,248	35,275	117,175	109,418
Company restaurants \| Company restaurants
Segment Reporting Information [Line Items]
Revenue from contract with customer	38,200	35,200	117,200	109,400
Financing revenues
Segment Reporting Information [Line Items]
Revenue from contract with customer	858	1,045	2,784	3,266
Financing revenues \| Financing operations \| Operating Segments
Segment Reporting Information [Line Items]
Revenue from contract with customer	$ 900	$ 1,000	$ 2,800	$ 3,300

Closure and Impairment Charges - Long-lived Tangible Asset Impairment and Closure Charges (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Closure charges	$ 0.5	$ 0.4	$ 1.7	$ 3.3
Long-lived tangible asset impairment	1.1	0.0	1.4	1.7
Total closure and impairment charges	$ 1.6	$ 0.4	$ 3.1	$ 5.0

Closure and Impairment Charges - Narrative (Details) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022 USD ($) restaurant	Sep. 30, 2021 USD ($) restaurant	Sep. 30, 2022 USD ($) restaurant	Sep. 30, 2021 USD ($) restaurant
Goodwill [Line Items]
Long-lived tangible asset impairment \| $	$ 1.1	$ 0.0	$ 1.4	$ 1.7
IHOP
Goodwill [Line Items]
Number of restaurants related to prior period closure charge revisions	30	50	35	25
IHOP \| Entity Operated Units
Goodwill [Line Items]
Number of restaurants subject to asset impairment			2
IHOP \| Franchised Units
Goodwill [Line Items]
Number of restaurants subject to asset impairment				4
Applebee's \| Entity Operated Units
Goodwill [Line Items]
Long-lived tangible asset impairment \| $			$ 1.1

Fair Value Measurements - Fair Value of Non-Current Financial Liabilities (Details) - Level 2 - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Face Value of Class A-2 Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, fair value	$ 1,287.0	$ 1,287.0
Fair Value of Class A-2 Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, fair value	$ 1,213.7	$ 1,312.9

Commitments and Contingencies - Narrative (Details) - Applebee's - Property Lease Guarantee $ in Millions	Sep. 30, 2022 USD ($)
Loss Contingencies [Line Items]
Potential liability for guaranteed leases	$ 212.0
Potential liability for guaranteed leases excluding unexercised option periods	$ 42.8

Cash, Cash Equivalents and Restricted Cash - Schedule of Cash and Cash Equivalents (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	$ 355,288	$ 361,412
Money market funds
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	60,000	30,000
IHOP advertising funds and gift card programs \| IHOP
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	74,000	101,500
Other depository accounts
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	$ 221,300	$ 229,900

Cash, Cash Equivalents and Restricted Cash - Narrative (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Cash and Cash Equivalents [Abstract]
Non-current restricted cash	$ 16,400	$ 16,400

Cash, Cash Equivalents and Restricted Cash - Schedule of Current Restricted Cash (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Restricted Cash and Cash Equivalents Items [Line Items]
Total current restricted cash	$ 52.5	$ 47.5
Securitized debt reserves
Restricted Cash and Cash Equivalents Items [Line Items]
Total current restricted cash	31.0	29.9
Applebee's advertising funds \| Applebee's
Restricted Cash and Cash Equivalents Items [Line Items]
Total current restricted cash	21.4	17.5
Other
Restricted Cash and Cash Equivalents Items [Line Items]
Total current restricted cash	$ 0.1	$ 0.1

Assets and Liabilities Held for Sale (Details) - Entity Operated Units - Applebee's - Applebee's Company-Operated Restaurants, North Carolina And South Carolina $ in Millions	9 Months Ended
	Sep. 30, 2022 USD ($)	Jul. 26, 2022 restaurant
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of restaurants subject to refranchising and sale \| restaurant		69
Disposal Group, Held-for-sale or Disposed of by Sale, Not Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss on refranchising and sale	$ 1.1
Disposal Group, Including Discontinued Operation, Assets [Abstract]
Operating lease right-of-use assets	55.5
Property, plant and equipment	43.9
Goodwill and intangible assets	9.3
Other assets	1.7
Disposal Group, Including Discontinued Operation, Liabilities [Abstract]
Lease obligations	95.4
Other liabilities	$ 0.6

Subsequent Events (Details)	Oct. 31, 2022 restaurant
Entity Operated Units \| Applebee's \| Subsequent Event
Subsequent Event [Line Items]
Number of restaurants refranchised and sold	69