falsedesktopDIN2020-09-30000004975420000020{"tbl_sim": "https://q10k.com/tbl-sim", "search": "https://q10k.com/search"}{"q10k_tbl_0": "Delaware\t\t95-3038279\n(State or other jurisdiction of incorporation or organization)\t\t(I.R.S. Employer Identification No.)\n450 North Brand Boulevard\t\t91203-1903\nGlendale\tCA\n(Address of principal executive offices)\t\t(Zip Code)\n", "q10k_tbl_1": "Large accelerated filer\t☒\tAccelerated filer\t☐\nNon-accelerated filer\t☐\t\t\n\t\tSmaller reporting company\t☐\n\t\tEmerging growth company\t☐\n", "q10k_tbl_2": "\t\tPage\nPART I.\tFINANCIAL INFORMATION\t3\n\tItem 1-Financial Statements\t3\n\tConsolidated Balance Sheets - September 30 2020 (unaudited) and December 31 2019\t3\n\tConsolidated Statements of Comprehensive Income (Loss) (unaudited) - Three and Nine Months Ended September 30 2020 and 2019\t4\n\tConsolidated Statements of Stockholders' Deficit (unaudited) - Three and Nine Months Ended September 30 2020 and 2019\t5\n\tConsolidated Statements of Cash Flows (unaudited) - Nine Months Ended September 30 2020 and 2019\t7\n\tNotes to Consolidated Financial Statements (unaudited)\t8\n\tItem 2-Management's Discussion and Analysis of Financial Condition and Results of Operations\t29\n\tItem 3-Quantitative and Qualitative Disclosures about Market Risk\t52\n\tItem 4-Controls and Procedures\t52\nPART II.\tOTHER INFORMATION\t54\n\tItem 1-Legal Proceedings\t54\n\tItem 1A-Risk Factors\t54\n\tItem 2-Unregistered Sales of Equity Securities and Use of Proceeds\t55\n\tItem 3-Defaults Upon Senior Securities\t55\n\tItem 4-Mine Safety Disclosures\t55\n\tItem 5-Other Information\t55\n\tItem 6-Exhibits\t56\n\tSignatures\t57\n", "q10k_tbl_3": "Assets\t\t\n\tSeptember 30 2020\tDecember 31 2019\n\t(Unaudited)\t\nCurrent assets:\t\t\nCash and cash equivalents\t309278\t116043\nReceivables net of allowance of $12221 (2020) and $3138 (2019)\t122148\t136869\nRestricted cash\t47511\t40732\nPrepaid gift card costs\t25690\t36077\nPrepaid income taxes\t13831\t13290\nOther current assets\t5942\t3906\nTotal current assets\t524400\t346917\nOther intangible assets net\t552943\t575103\nOperating lease right-of-use assets\t355766\t366931\nGoodwill\t251628\t343862\nProperty and equipment net\t195105\t216420\nLong-term receivables net of allowance of $9854 (2020) and $8155 (2019)\t69898\t85999\nDeferred rent receivable\t62458\t70308\nNon-current restricted cash\t32800\t15700\nOther non-current assets net\t25918\t28271\nTotal assets\t2070916\t2049511\nLiabilities and Stockholders' Deficit\t\t\nCurrent liabilities:\t\t\nCurrent maturities of long-term debt\t13000\t0\nAccounts payable\t28930\t40925\nGift card liability\t114495\t159019\nCurrent maturities of operating lease obligations\t75470\t72815\nCurrent maturities of finance lease and financing obligations\t13116\t13669\nAccrued employee compensation and benefits\t17498\t23904\nDividends payable\t0\t11702\nDeferred franchise revenue short-term\t7862\t10086\nAccrued advertising expenses\t28338\t8760\nOther accrued expenses\t22402\t17032\nTotal current liabilities\t321111\t357912\nLong-term debt\t1494538\t1288248\nOperating lease obligations less current maturities\t351927\t359025\nFinance lease obligations less current maturities\t72349\t77393\nFinancing obligations less current maturities\t34488\t37682\nDeferred income taxes net\t83502\t98499\nDeferred franchise revenue long-term\t54101\t56944\nOther non-current liabilities\t15264\t15582\nTotal liabilities\t2427280\t2291285\nCommitments and contingencies\t\t\nStockholders' deficit:\t\t\nPreferred stock $1 par value 10000000 shares authorized; no shares issued or outstanding\t0\t0\nCommon stock $0.01 par value; shares: 40000000 authorized; September 30 2020 - 24883124 issued 16416695 outstanding; December 31 2019 - 24925447 issued 16521921 outstanding\t249\t249\nAdditional paid-in-capital\t255907\t246192\n(Accumulated deficit) retained earnings\t(53992)\t61653\nAccumulated other comprehensive loss\t(56)\t(58)\nTreasury stock at cost; shares: September 30 2020 - 8466429; December 31 2019 - 8403526\t(558472)\t(549810)\nTotal stockholders' deficit\t(356364)\t(241774)\nTotal liabilities and stockholders' deficit\t2070916\t2049511\n", "q10k_tbl_4": "\tThree Months Ended\t\t\tNine Months Ended\n\tSeptember 30 2020\t\t\tSeptember 30 2020\n\t2020\t2019\t2020\t2019\nRevenues:\t\t\t\t\nFranchise revenues:\t\t\t\t\nRoyalties franchise fees and other\t69820\t88686\t191915\t275912\nAdvertising revenues\t51932\t67514\t142750\t211882\nTotal franchise revenues\t121752\t156200\t334665\t487794\nCompany restaurant sales\t27353\t30548\t75427\t100034\nRental revenues\t26194\t28970\t78910\t89559\nFinancing revenues\t1344\t1687\t4237\t5280\nTotal revenues\t176643\t217405\t493239\t682667\nCost of revenues:\t\t\t\t\nFranchise expenses:\t\t\t\t\nAdvertising expenses\t51932\t67514\t142750\t211882\nBad debt expense (credit)\t2845\t(662)\t8416\t(1254)\nOther franchise expenses\t5858\t7724\t15999\t23159\nTotal franchise expenses\t60635\t74577\t167165\t233787\nCompany restaurant expenses\t28303\t30361\t79774\t93131\nRental expenses:\t\t\t\t\nInterest expense from finance leases\t1106\t1351\t3453\t4325\nOther rental expenses\t19692\t21251\t61121\t63841\nTotal rental expenses\t20798\t22602\t64574\t68166\nFinancing expenses\t123\t145\t393\t437\nTotal cost of revenues\t109859\t127685\t311906\t395521\nGross profit\t66784\t89720\t181333\t287146\nGeneral and administrative expenses\t36873\t38922\t105351\t121105\nInterest expense net\t16844\t15238\t49143\t45233\nImpairment and closure charges\t168\t157\t124521\t640\nAmortization of intangible assets\t2659\t2925\t8240\t8774\nLoss on extinguishment of debt\t0\t0\t0\t8276\nLoss on disposition of assets\t1087\t746\t2630\t1187\nIncome (loss) before income taxes\t9153\t31732\t(108552)\t101931\nIncome tax benefit (provision)\t865\t(7815)\t6119\t(24981)\nNet income (loss)\t10018\t23917\t(102433)\t76950\nOther comprehensive income (loss) net of tax:\t\t\t\t\nForeign currency translation adjustment\t2\t(1)\t2\t0\nTotal comprehensive income (loss)\t10020\t23916\t(102431)\t76950\nNet income (loss) available to common stockholders:\t\t\t\t\nNet income (loss)\t10018\t23917\t(102433)\t76950\nLess: Net income allocated to unvested participating restricted stock\t(329)\t(795)\t(420)\t(2621)\nNet income (loss) available to common stockholders\t9689\t23122\t(102853)\t74329\nNet income (loss) available to common stockholders per share:\t\t\t\t\nBasic\t0.60\t1.38\t(6.34)\t4.35\nDiluted\t0.60\t1.36\t(6.34)\t4.27\nWeighted average shares outstanding:\t\t\t\t\nBasic\t16221\t16762\t16229\t17095\nDiluted\t16283\t17055\t16229\t17432\n", "q10k_tbl_5": "\tThree Months ended September 30 2020\t\t\t\t\t\t\t\n\tCommon Stock\t\t\t\t\tAccumulated Other Comprehensive Loss\tTreasury Stock\t\n\tShares Outstanding\tAmount\tAdditional Paid-in Capital\tAccumulated Deficit\t\tShares\tCost\tTotal\nBalance at June 30 2020\t16418\t249\t254429\t(64010)\t(58)\t8483\t(559181)\t(368571)\nNet income\t0\t0\t0\t10018\t0\t0\t0\t10018\nOther comprehensive income\t0\t0\t0\t0\t2\t0\t0\t2\nReissuance of treasury stock\t16\t0\t(709)\t0\t0\t(16)\t709\t0\nNet issuance of shares for stock plans\t(11)\t0\t0\t0\t0\t0\t0\t0\nRepurchase of restricted shares for taxes\t(6)\t0\t(309)\t0\t0\t0\t0\t(309)\nStock-based compensation\t0\t0\t2523\t0\t0\t0\t0\t2523\nOther\t0\t0\t(27)\t0\t0\t0\t0\t(27)\nBalance at September 30 2020\t16417\t249\t255907\t(53992)\t(56)\t8467\t(558472)\t(356364)\n", "q10k_tbl_6": "\tNine Months ended September 30 2020\t\t\t\t\t\t\t\n\tCommon Stock\t\t\t\t\tAccumulated Other Comprehensive Loss\tTreasury Stock\t\n\tShares Outstanding\tAmount\tAdditional Paid-in Capital\tRetained Earnings (Accumulated Deficit)\t\tShares\tCost\tTotal\nBalance at December 31 2019\t16522\t249\t246192\t61653\t(58)\t8404\t(549810)\t(241774)\nAdoption of credit loss accounting guidance (Note 3)\t0\t0\t0\t(497)\t0\t0\t0\t(497)\nNet loss\t0\t0\t0\t(102433)\t0\t0\t0\t(102433)\nOther comprehensive income\t0\t0\t0\t0\t2\t0\t0\t2\nPurchase of Company common stock\t(460)\t0\t0\t0\t0\t460\t(26527)\t(26527)\nReissuance of treasury stock\t397\t0\t2658\t0\t0\t(397)\t17865\t20523\nNet issuance of shares for stock plans\t(7)\t0\t0\t0\t0\t0\t0\t0\nRepurchase of restricted shares for taxes\t(35)\t0\t(2438)\t0\t0\t0\t0\t(2438)\nStock-based compensation\t0\t0\t9193\t0\t0\t0\t0\t9193\nDividends on common stock\t0\t0\t507\t(12715)\t0\t0\t0\t(12208)\nOther\t0\t0\t(205)\t0\t0\t0\t0\t(205)\nBalance at September 30 2020\t16417\t249\t255907\t(53992)\t(56)\t8467\t(558472)\t(356364)\n", "q10k_tbl_7": "\tThree Months ended September 30 2019\t\t\t\t\t\t\t\n\tCommon Stock\t\t\t\t\tAccumulated Other Comprehensive Loss\tTreasury Stock\t\n\tShares Outstanding\tAmount\tAdditional Paid-in Capital\tRetained Earnings\t\tShares\tCost\tTotal\nBalance at June 30 2019\t17252\t249\t240555\t33832\t(59)\t7697\t(489702)\t(215125)\nNet income\t0\t0\t0\t23917\t0\t0\t0\t23917\nOther comprehensive loss\t0\t0\t0\t0\t(1)\t0\t0\t(1)\nPurchase of Company common stock\t(524)\t0\t0\t0\t0\t524\t(42717)\t(42717)\nReissuance of treasury stock\t73\t0\t582\t0\t0\t(73)\t3151\t3733\nNet issuance of shares for stock plans\t(11)\t0\t0\t0\t0\t0\t0\t0\nRepurchase of restricted shares for taxes\t(4)\t0\t(347)\t0\t0\t0\t0\t(347)\nStock-based compensation\t0\t0\t2326\t0\t0\t0\t0\t2326\nDividends on common stock\t0\t0\t242\t(11810)\t0\t0\t0\t(11568)\nBalance at September 30 2019\t16786\t249\t243358\t45939\t(60)\t8148\t(529268)\t(239782)\n", "q10k_tbl_8": "\tNine Months ended September 30 2019\t\t\t\t\t\t\t\n\tCommon Stock\t\t\t\t\tAccumulated Other Comprehensive Loss\tTreasury Stock\t\n\tShares Outstanding\tAmount\tAdditional Paid-in Capital\tRetained Earnings\t\tShares\tCost\tTotal\nBalance at December 31 2018\t17644\t250\t237726\t10414\t(60)\t7341\t(450603)\t(202273)\nAdoption of new lease accounting guidance\t0\t0\t0\t(5030)\t0\t0\t0\t(5030)\nNet income\t0\t0\t0\t76950\t0\t0\t0\t76950\nOther comprehensive income\t0\t0\t0\t0\t0\t0\t0\t0\nPurchase of Company common stock\t(1067)\t0\t0\t0\t0\t1067\t(90073)\t(90073)\nReissuance of treasury stock\t260\t(1)\t(736)\t0\t0\t(260)\t11408\t10671\nNet issuance of shares for stock plans\t(23)\t0\t0\t0\t0\t0\t0\t0\nRepurchase of restricted shares for taxes\t(28)\t0\t(2589)\t0\t0\t0\t0\t(2589)\nStock-based compensation\t0\t0\t8220\t0\t0\t0\t0\t8220\nDividends on common stock\t0\t0\t737\t(36395)\t0\t0\t0\t(35658)\nBalance at September 30 2019\t16786\t249\t243358\t45939\t(60)\t8148\t(529268)\t(239782)\n", "q10k_tbl_9": "\tNine Months Ended\t\n\tSeptember 30\t\n\t2020\t2019\nCash flows from operating activities:\t\t\nNet (loss) income\t(102433)\t76950\nAdjustments to reconcile net (loss) income to cash flows provided by operating activities:\t\t\nImpairment and closure charges\t124469\t640\nDepreciation and amortization\t32053\t31515\nNon-cash stock-based compensation expense\t9193\t8220\nNon-cash interest expense\t1990\t2722\nDeferred income taxes\t24172\t(2890)\nDeferred revenue\t(5067)\t(6590)\nLoss on extinguishment of debt\t0\t8276\nLoss on disposition of assets\t2630\t1187\nOther\t1173\t(4584)\nChanges in operating assets and liabilities:\t\t\nAccounts receivable net\t(27849)\t4233\nCurrent income tax receivables and payables\t(41426)\t7101\nGift card receivables and payables\t(1980)\t(15868)\nOther current assets\t(2034)\t(3519)\nAccounts payable\t6777\t359\nAccrued employee compensation and benefits\t(6406)\t(6069)\nAccrued advertising\t19579\t(1366)\nOther current liabilities\t1887\t5282\nCash flows provided by operating activities\t36728\t105599\nCash flows from investing activities:\t\t\nPrincipal receipts from notes equipment contracts and other long-term receivables\t15731\t16156\nNet additions to property and equipment\t(9088)\t(13360)\nProceeds from sale of property and equipment\t517\t400\nAdditions to long-term receivables\t(1475)\t(6955)\nOther\t(358)\t(258)\nCash flows provided by (used in) investing activities\t5327\t(4017)\nCash flows from financing activities:\t\t\nProceeds from issuance of long-term debt\t0\t1300000\nRepayment of long-term debt\t0\t(1283750)\nBorrowing from revolving credit facility\t220000\t0\nRepayment of revolving credit facility\t0\t(25000)\nPayment of debt issuance costs\t0\t(12707)\nDividends paid on common stock\t(23934)\t(35273)\nRepurchase of common stock\t(29853)\t(90073)\nPrincipal payments on finance lease obligations\t(9034)\t(10329)\nProceeds from stock options exercised\t20523\t10672\nTax payments for restricted stock upon vesting\t(2438)\t(2589)\nOther\t(205)\t0\nCash flows provided by (used in) financing activities\t175059\t(149049)\nNet change in cash cash equivalents and restricted cash\t217114\t(47467)\nCash cash equivalents and restricted cash at beginning of period\t172475\t200379\nCash cash equivalents and restricted cash at end of period\t389589\t152912\nSupplemental disclosures:\t\t\nInterest paid in cash\t51706\t49554\nIncome taxes paid in cash\t11348\t34337\n", "q10k_tbl_10": "\tApplebee's Franchise Unit\tApplebee's Company Unit\tIHOP Franchise Unit\tTotal\n\t(In millions)\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nBalance at December 31 2019:\t328.4\t4.6\t10.8\t343.9\nImpairment loss\t(92.2)\t0\t0\t(92.2)\nBalance at September 30 2020:\t236.2\t4.6\t10.8\t251.6\n", "q10k_tbl_11": "\tNot Subject to Amortization\t\t\tSubject to Amortization\t\t\n\tTradename\tOther\tFranchising Rights\tReacquired Franchising Rights\tLeaseholds\tTotal\n\t(In millions)\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nBalance at December 31 2019:\t479.0\t3.2\t79.0\t9.8\t4.1\t575.1\nImpairment loss\t(11.0)\t0\t0\t(3.3)\t0\t(14.3)\nAmortization expense\t0\t0\t(7.5)\t(0.7)\t(0.1)\t(8.3)\nAdditions\t0\t0.4\t0\t0\t0\t0.4\nBalance at September 30 2020:\t468.0\t3.6\t71.5\t5.8\t4.0\t552.9\n", "q10k_tbl_12": "\tThree Months Ended\t\t\tNine Months Ended\n\tSeptember 30\t\t\tSeptember 30\n\t2020\t2019\t2020\t2019\n\t(In millions)\t\t\t\t\t\t\t\t\t\nLong-lived tangible asset impairment\t0\t0\t17.1\t0\nClosure charges\t0.2\t0.3\t0.9\t0.5\nTotal long-lived asset impairment and closure charges\t0.2\t0.3\t18.0\t0.5\n", "q10k_tbl_13": "\tThree Months Ended\t\t\tNine Months Ended\n\tSeptember 30\t\t\tSeptember 30\n\t2020\t2019\t2020\t2019\n\t(In thousands)\t\t\t\t\t\t\t\t\t\nFranchise Revenue:\t\t\t\t\nRoyalties\t56061\t72506\t154672\t226888\nAdvertising fees\t51932\t67514\t142750\t211882\nPancake and waffle dry mix sales and other\t10690\t13201\t27575\t40158\nFranchise and development fees\t3069\t2979\t9668\t8866\nTotal franchise revenue\t121752\t156200\t334665\t487794\n", "q10k_tbl_14": "\tDeferred Franchise Revenue (short- and long-term)\n\t(In thousands)\nBalance at December 31 2019\t67030\nRecognized as revenue during the nine months ended September 30 2020\t(9029)\nFees deferred during the nine months ended September 30 2020\t3962\nBalance at September 30 2020\t61963\n", "q10k_tbl_15": "\t(In thousands)\nRemainder of 2020\t1928\n2021\t7876\n2022\t7233\n2023\t6708\n2024\t6082\nThereafter\t32136\nTotal\t61963\n", "q10k_tbl_16": "\tSeptember 30 2020\tDecember 31 2019\n\t(In millions)\t\t\t\t\t\t\t\nAccounts receivable\t99.7\t60.8\nGift card receivables\t3.8\t46.7\nNotes receivable\t28.9\t28.9\nFinancing receivables:\t\t\nEquipment leases receivable\t49.8\t56.3\nDirect financing leases receivable\t25.5\t34.0\nFranchise fee notes receivable\t0.1\t0.1\nOther\t6.5\t7.3\n\t214.1\t234.2\nLess: allowance for doubtful accounts and notes receivable\t(22.1)\t(11.3)\n\t192.0\t222.9\nLess: current portion\t(122.1)\t(136.9)\nLong-term receivables\t69.9\t86.0\n", "q10k_tbl_17": "\tAccounts Receivable\tNotes receivable short-term\tNotes receivable long-term\tLease Receivables\tEquipment Notes\tOther (1)\tTotal\n\t(In millions)\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nBalance December 31 2019\t0.7\t2.4\t8.2\t0\t0\t0\t11.3\nIncrease due to CECL adoption\t0.3\t0.0\t0.1\t0.1\t0.1\t0.1\t0.7\nBad debt expense for the nine months ended September 30 2020\t3.8\t2.7\t1.4\t0.1\t0.2\t0.2\t8.4\nAdvertising provision adjustment\t2.4\t(0.1)\t(0.2)\t0\t0\t0\t2.1\nWrite-offs\t(0.2)\t(0.1)\t0\t(0.0)\t(0.1)\t0\t(0.4)\nRecoveries\t0.0\t0\t0\t0.0\t0\t0\t0.0\nBalance September 30 2020\t7.0\t4.9\t9.5\t0.2\t0.2\t0.3\t22.1\n", "q10k_tbl_18": "\tNotes receivable short-term\tNotes receivable long-term\tLease Receivables\tEquipment Notes\tOther (1)\tTotal\n\t(In millions)\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nCurrent\t4.2\t22.4\t25.5\t49.8\t1.6\t103.5\n30-59 days\t0.2\t0\t0\t0\t0\t0.2\n60-89 days\t0.2\t0\t0\t0\t0\t0.2\n90-119 days\t0.2\t0\t0\t0\t0\t0.2\n120+ days\t1.7\t0\t0\t0\t0\t1.7\nTotal\t6.5\t22.4\t25.5\t49.8\t1.6\t105.8\n", "q10k_tbl_19": "\tNotes receivable short and long-term\tLease Receivables\tEquipment Notes\tTotal\n\t(In millions)\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\n2020\t1.9\t1.5\t0\t3.4\n2019\t7.8\t0.9\t0\t8.7\n2018\t12.8\t0\t0\t12.8\n2017\t6.3\t0\t0\t6.3\n2016\t0\t1.3\t0\t1.3\nPrior\t0.1\t21.8\t49.8\t71.7\nTotal\t28.9\t25.5\t49.8\t104.2\n", "q10k_tbl_20": "\tThree months ended September 30\t\t\tNine months ended September 30\n\t2020\t2019\t2020\t2019\n\t(In millions)\t\t\t\t\t\t\t\t\t\nFinance lease cost:\t\t\t\t\nAmortization of right-of-use assets\t1.2\t1.3\t3.7\t4.0\nInterest on lease liabilities\t1.6\t1.9\t5.0\t5.9\nOperating lease cost\t25.7\t26.5\t78.8\t79.8\nVariable lease cost\t0.2\t0.6\t0.5\t1.9\nShort-term lease cost\t0.0\t0.0\t0.0\t0.0\nSublease income\t(23.9)\t(26.5)\t(72.0)\t(81.9)\nLease cost\t4.9\t3.8\t16.1\t9.7\n", "q10k_tbl_21": "\tFinance Leases\tOperating Leases\n\t(In millions)\t\t\t\t\t\t\t\n2020 (remaining three months)\t5.9\t31.0\n2021\t16.7\t90.3\n2022\t15.0\t82.9\n2023\t11.9\t67.9\n2024\t9.7\t62.2\nThereafter\t59.4\t194.1\nTotal minimum lease payments\t118.5\t528.3\nLess: interest/imputed interest\t(33.9)\t(101.0)\nTotal obligations\t84.7\t427.4\nLess: current portion\t(12.3)\t(75.5)\nLong-term lease obligations\t72.3\t351.9\n", "q10k_tbl_22": "\tThree months ended September 30\t\t\tNine months ended September 30\n\t2020\t2019\t2020\t2019\n\t(In millions)\t\t\t\t\t\t\t\t\t\nPrincipal payments on finance lease obligations\t3.0\t3.4\t9.0\t10.3\nInterest payments on finance lease obligations\t1.6\t1.9\t5.0\t5.9\nPayments on operating leases\t23.5\t22.9\t70.0\t68.7\nVariable lease payments\t0.1\t0.6\t0.7\t2.1\n", "q10k_tbl_23": "\tThree months ended September 30\t\t\tNine months ended September 30\n\t2020\t2019\t2020\t2019\n\t(In millions)\t\t\t\t\t\t\t\t\t\nMinimum lease payments\t24.3\t25.0\t72.2\t76.2\nVariable lease income\t1.1\t2.5\t3.8\t8.5\nTotal operating lease income\t25.4\t27.5\t76.0\t84.7\n", "q10k_tbl_24": "\t(In millions)\n2020 (remaining three months)\t29.0\n2021\t104.7\n2022\t101.4\n2023\t96.6\n2024\t87.7\nThereafter\t220.7\nTotal minimum rents receivable\t640.0\n", "q10k_tbl_25": "\tThree months ended September 30\t\t\tNine months ended September 30\n\t2020\t2019\t2020\t2019\n\t(In millions)\t\t\t\t\t\t\t\t\t\nInterest income\t0.8\t1.2\t2.6\t3.9\nVariable lease income\t0.0\t0.2\t0.2\t1.0\nTotal operating lease income\t0.8\t1.4\t2.8\t4.9\n", "q10k_tbl_26": "\t(In millions)\n2020 (remaining three months)\t3.3\n2021\t10.6\n2022\t7.8\n2023\t3.7\n2024\t1.5\nThereafter\t3.9\nTotal minimum rents receivable\t30.7\nLess: unearned income\t(5.3)\nTotal net investment in direct financing leases\t25.5\nLess: current portion\t(9.1)\nLong-term investment in direct financing leases\t16.4\n", "q10k_tbl_27": "\tSeptember 30 2020\tDecember 31 2019\n\t(In millions)\t\t\t\t\t\t\t\nSeries 2019-1 4.194% Fixed Rate Senior Secured Notes Class A-2-I\t700.0\t700.0\nSeries 2019-1 4.723% Fixed Rate Senior Secured Notes Class A-2-II\t600.0\t600.0\nSeries 2019-1 Variable Funding Senior Notes Class A-1 variable interest rate of 2.44% at September 30 2020\t220.0\t0\nDebt issuance costs\t(12.5)\t(11.8)\nLong-term debt net of debt issuance costs\t1507.5\t1288.2\nCurrent portion of long-term debt\t(13.0)\t0\nLong-term debt\t1494.5\t1288.2\n", "q10k_tbl_28": "\t(In millions)\n2020 (remaining three months)\t3.3\n2021\t13.0\n2022\t13.0\n2023\t13.0\n2024\t903.3\nThereafter\t574.5\nTotal\t1520.0\n", "q10k_tbl_29": "\tThree months ended September 30\t\t\tNine months ended September 30\n\t2020\t2019\t2020\t2019\nDividends declared per common share\t0\t0.69\t0.76\t2.07\nDividends paid per common share\t0\t0.69\t1.45\t2.01\n", "q10k_tbl_30": "\tShares\tCost of shares\n\t\t(In millions)\nRepurchased during the three months ended September 30 2020\t0\t0\nRepurchased during the nine months ended September 30 2020\t459899\t26.5\nCumulative (life-of-program) repurchases\t1697597\t129.8\nRemaining dollar value of shares that may be repurchased\tn/a\t70.2\n", "q10k_tbl_31": "\tThree months ended September 30\t\t\tNine months ended September 30\n\t2020\t2019\t2020\t2019\n\t(In millions)\t\t\t\t\t\t\t\t\t\nTotal stock-based compensation expense:\t\t\t\t\nEquity classified awards expense\t2.5\t2.4\t9.2\t8.3\nLiability classified awards expense\t1.1\t0.2\t0.6\t2.6\nTotal pre-tax stock-based compensation expense\t3.6\t2.6\t9.8\t10.9\nBook income tax benefit\t(0.9)\t(0.6)\t(2.4)\t(2.8)\nTotal stock-based compensation expense net of tax\t2.7\t2.0\t7.4\t8.1\n", "q10k_tbl_32": "\tShares\tWeighted Average Exercise Price\tWeighted Average Remaining Contractual Term (in Years)\tAggregate Intrinsic Value (in Millions)\nOutstanding at December 31 2019\t1217438\t66.43\t\t\nGranted\t167969\t87.17\t\t\nExercised\t(270024)\t76.01\t\t\nExpired\t(48119)\t112.58\t\t\nForfeited\t(45247)\t86.39\t\t\nOutstanding at September 30 2020\t1022017\t64.25\t6.7\t5.5\nVested at September 30 2020 and Expected to Vest\t983454\t63.99\t6.7\t5.3\nExercisable at September 30 2020\t423261\t70.54\t5.3\t0.4\n", "q10k_tbl_33": "\tRestricted Stock\tWeighted Average Grant Date Fair Value\tStock-Settled Restricted Stock Units\tWeighted Average Grant Date Fair Value\nOutstanding at December 31 2019\t224515\t70.52\t357807\t30.35\nGranted\t127041\t75.86\t30997\t77.33\nReleased\t(93160)\t55.58\t(33234)\t63.98\nForfeited\t(38172)\t85.01\t0\t0\nOutstanding at September 30 2020\t220224\t78.12\t355570\t28.01\n", "q10k_tbl_34": "\tCash-Settled Restricted Stock Units\nOutstanding at December 31 2019\t63852\nGranted\t2658\nReleased\t(1426)\nForfeited\t(11603)\nOutstanding at September 30 2020\t53481\n", "q10k_tbl_35": "\tThree months ended September 30\t\t\tNine months ended September 30\n\t2020\t2019\t2020\t2019\n\t(In millions)\t\t\t\t\t\t\t\t\t\nRevenues from external customers:\t\t\t\t\nFranchise operations\t121.8\t156.2\t334.7\t487.8\nRental operations\t26.2\t29.0\t78.9\t89.6\nCompany restaurants\t27.3\t30.5\t75.4\t100.0\nFinancing operations\t1.3\t1.7\t4.2\t5.3\nTotal\t176.6\t217.4\t493.2\t682.7\nInterest expense:\t\t\t\t\nRental operations\t1.6\t1.8\t4.7\t6.1\nCompany restaurants\t0.7\t0.5\t1.7\t1.6\nCorporate\t16.8\t15.2\t49.1\t45.2\nTotal\t19.1\t17.5\t55.5\t52.9\nDepreciation and amortization:\t\t\t\t\nFranchise operations\t2.5\t2.6\t7.6\t7.7\nRental operations\t3.0\t3.3\t9.3\t10.2\nCompany restaurants\t1.8\t1.6\t5.0\t4.7\nCorporate\t3.4\t3.2\t10.2\t8.9\nTotal\t10.7\t10.7\t32.1\t31.5\nGross profit by segment:\t\t\t\t\nFranchise operations\t61.1\t81.6\t167.5\t254.0\nRental operations\t5.4\t6.4\t14.3\t21.4\nCompany restaurants\t(0.9)\t0.2\t(4.4)\t6.9\nFinancing operations\t1.2\t1.5\t3.9\t4.8\nTotal gross profit\t66.8\t89.7\t181.3\t287.1\nCorporate and unallocated expenses net\t(57.6)\t(58.0)\t(289.9)\t(185.2)\nIncome (loss) before income taxes\t9.2\t31.7\t(108.6)\t101.9\n", "q10k_tbl_36": "\tThree months ended September 30\t\t\tNine months ended September 30\n\t2020\t2019\t2020\t2019\n\t(In thousands except per share data)\t\t\t\t\t\t\t\t\t\nNumerator for basic and diluted income (loss) per common share:\t\t\t\t\nNet income (loss)\t10018\t23917\t(102433)\t76950\nLess: Net income allocated to unvested participating restricted stock\t(329)\t(795)\t(420)\t(2621)\nNet income (loss) available to common stockholders - basic\t9689\t23122\t(102853)\t74329\nEffect of unvested participating restricted stock in two-class calculation\t2\t6\t0\t28\nNet income (loss) available to common stockholders - diluted\t9691\t23128\t(102853)\t74357\nDenominator:\t\t\t\t\nWeighted average outstanding shares of common stock - basic\t16221\t16762\t16229\t17095\nDilutive effect of stock options\t62\t293\t0\t337\nWeighted average outstanding shares of common stock - diluted\t16283\t17055\t16229\t17432\nNet income (loss) per common share:\t\t\t\t\nBasic\t0.60\t1.38\t(6.34)\t4.35\nDiluted\t0.60\t1.36\t(6.34)\t4.27\n", "q10k_tbl_37": "\tSeptember 30 2020\t\tDecember 31 2019\n\t(In millions)\t\t\t\t\t\nFace Value of Class A-2 Notes\t1300.0\t1300.0\t\nFair Value of Class A-2 Notes\t1164.4\t1326.3\t\n", "q10k_tbl_38": "\tSeptember 30 2019\tDecember 31 2019\tMarch 31 2020\tJune 30 2020\tSeptember 30 2020\n\t(In millions)\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nCash and cash equivalents\t100.5\t116.0\t344.6\t278.5\t309.3\nRestricted cash current\t36.7\t40.7\t34.2\t31.2\t47.5\nRestricted cash non-current\t15.7\t15.7\t16.4\t32.8\t32.8\nTotal\t152.9\t172.4\t395.2\t342.5\t389.6\n", "q10k_tbl_39": "\tStatus as of 2020 Fiscal Month Ended\t\t\t\n\tJune\tJuly\tAugust\tSeptember\nApplebee's Domestic\t\t\t\t\nRestaurants with dining rooms open*\t1522\t1505\t1558\t1595\nRestaurants limited to off-premise sales\t70\t94\t37\t3\nRestaurants temporarily closed\t41\t31\t24\t16\nTotal\t1633\t1630\t1619\t1614\n% of total operating in some capacity\t97%\t98%\t99%\t99%\nIHOP Domestic\t\t\t\t\nRestaurants with dining rooms open*\t1485\t1321\t1349\t1425\nRestaurants limited to off-premise sales\t76\t244\t234\t167\nRestaurants temporarily closed\t134\t128\t99\t91\nTotal\t1695\t1693\t1682\t1683\n% of total operating in some capacity\t92%\t92%\t94%\t95%\nInternational\t\t\t\t\nRestaurants with dining rooms open*\t131\t169\t203\t207\nRestaurants limited to off-premise sales\t56\t34\t9\t8\nRestaurants temporarily closed\t57\t37\t25\t23\nTotal\t244\t240\t237\t238\n% of total operating in some capacity\t77%\t85%\t89%\t90%\n", "q10k_tbl_40": "Average weekly unit sales (in thousands)\tFiscal Month of 2020 Ended\t\t\t\t\tThree months ended September 30 2020\tThree months ended September 30 2019\n\tJuly\tAugust\tSeptember\t\t\nApplebee's domestic\t37.6\t38.4\t40.0\t39.2\t45.0\nIHOP\t23.8\t25.7\t26.8\t25.6\t35.7\n", "q10k_tbl_41": "\tThree months ended September 30\t\t\tFavorable (Unfavorable) Variance\tNine months ended September 30\t\tFavorable (Unfavorable) Variance\n\t2020\t2019\t\t2020\t2019\t\n\t(In millions except per share data)\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nIncome (loss) before income taxes\t9.2\t31.7\t(22.6)\t(108.6)\t101.9\t(210.5)\nIncome tax (provision) benefit\t0.9\t(7.8)\t8.7\t6.1\t(25.0)\t31.1\nNet income (loss)\t10.0\t23.9\t(13.9)\t(102.4)\t76.9\t(179.4)\nEffective tax rate\t(9.5)%\t24.6%\t34.1%\t5.6%\t24.5%\t18.9%\nNet income (loss) per diluted share\t0.60\t1.36\t(0.76)\t(6.34)\t4.27\t(10.61)\n\t\t\t% (decrease)\t\t\t% (decrease)\nWeighted average diluted shares\t16.3\t17.1\t(4.5)%\t16.2\t17.4\t(6.9)%\n", "q10k_tbl_42": "\tFavorable (Unfavorable) Variance\t\n\tThree months ended September 30 2020\tNine months ended September 30 2020\n\t(In millions)\t\nDecrease in gross profit:\t\t\nApplebee's franchise operations\t(9.0)\t(39.0)\nIHOP franchise operations\t(11.5)\t(47.5)\nCompany restaurant operations\t(1.1)\t(11.3)\nRental and financing operations\t(1.3)\t(8.0)\nTotal decrease in gross profit\t(22.9)\t(105.8)\nImpairment and closure charges\t0\t(123.9)\nDecrease in G&A expenses\t2.0\t15.8\nLoss on extinguishment of debt\t0\t8.3\nOther income and expense items\t(1.7)\t(4.8)\nDecrease in income before income taxes\t(22.6)\t(210.5)\n", "q10k_tbl_43": "\tThree months ended September 30 2020\t\t\tNine months ended September 30 2020\n\tApplebee's\tIHOP\tApplebee's\tIHOP\nSales percentage decrease\t(16.7)%\t(34.4)%\t(27.6)%\t(37.6)%\n% decrease in domestic system-wide same-restaurant sales\t(13.3)%\t(30.2)%\t(24.1)%\t(33.8)%\nNet franchise restaurant reduction (1)\t(21)\t(16)\t(59)\t(34)\nNet decrease in total effective restaurants (2)\t(105)\t(138)\t(133)\t(146)\n", "q10k_tbl_44": "2020 Fiscal Month Ended\t\t\t\t\t\t\t\t\nJan\tFeb\tMarch\tApril\tMay\tJune\tJuly\tAugust\tSeptember\n13.1%\t14.4%\t22.0%\t99.8%\t76.4%\t40.2%\t38.0%\t34.9%\t31.7%\n", "q10k_tbl_45": "2020 Fiscal Month Ended\t\t\t\t\t\t\t\t\nJan\tFeb\tMarch\tApril\tMay\tJune\tJuly\tAugust\tSeptember\n9.7%\t10.4%\t17.0%\t94.7%\t68.8%\t35.8%\t35.0%\t32.5%\t30.6%\n", "q10k_tbl_46": "\tThree months ended September 30\t\t\tNine months ended September 30\n\t2020\t2019\t2020\t2019\nApplebee's Restaurant Data\t(Unaudited)\t\t\t\t\t\t\t\t\t\nEffective Restaurants(a)\t\t\t\t\nFranchise\t1636\t1741\t1620\t1752\nCompany\t69\t69\t68\t69\nTotal\t1705\t1810\t1688\t1821\nSystem-wide(b)\t\t\t\t\nDomestic sales percentage change(c)\t(16.7)%\t(3.8)%\t(27.6)%\t(2.7)%\nDomestic same-restaurant sales percentage change(d)\t(13.3)%\t(1.6)%\t(24.1)%\t(0.1)%\nFranchise(b)\t\t\t\t\nDomestic sales percentage change(c) (e)\t(16.9)%\t(6.8)%\t(27.7)%\t(5.9)%\nDomestic same-restaurant sales percentage change(d)\t(13.4)%\t(1.7)%\t(24.1)%\t(0.2)%\nAverage weekly domestic unit sales (in thousands)\t39.2\t45.0\t36.6\t47.7\nIHOP Restaurant Data\t\t\t\t\nEffective Restaurants(a)\t\t\t\t\nFranchise\t1530\t1667\t1517\t1660\nArea license\t157\t158\t153\t156\nTotal\t1687\t1825\t1670\t1816\nSystem-wide(b)\t\t\t\t\nSales percentage change(c)\t(34.4)%\t1.2%\t(37.6)%\t2.2%\nDomestic same-restaurant sales percentage change including area license restaurants(d)\t(30.2)%\t0.03%\t(33.8)%\t1.1%\nFranchise(b)\t\t\t\t\nSales percentage change(c)\t(34.3)%\t1.1%\t(37.6)%\t2.2%\nDomestic same-restaurant sales percentage change(d)\t(29.9)%\t0.03%\t(33.6)%\t1.0%\nAverage weekly unit sales (in thousands)\t25.6\t35.7\t24.9\t36.5\nArea License(b)\t\t\t\t\nSales percentage change(c)\t(35.0)%\t2.4%\t(37.1)%\t2.4%\n", "q10k_tbl_47": "\tThree months ended September 30\t\t\tNine months ended September 30\n\t2020\t2019\t2020\t2019\nReported sales (in millions)\t(Unaudited)\t\t\t\t\t\t\t\t\t\nApplebee's domestic franchise restaurant sales\t778.2\t936.5\t2168.4\t2997.2\nApplebee's company-operated restaurants\t27.3\t30.5\t75.4\t100.0\nIHOP franchise restaurant sales\t508.3\t773.9\t1475.2\t2364.4\nIHOP area license restaurant sales\t46.2\t71.1\t136.6\t217.2\nTotal\t1360.0\t1812.0\t3855.6\t5678.8\n", "q10k_tbl_48": "Restaurant Development Activity\tThree months ended September 30\t\t\tNine months ended September 30\n\t2020\t2019\t2020\t2019\nApplebee's\t(Unaudited)\t\t\t\t\t\t\t\t\t\nSummary - beginning of period:\t\t\t\t\nFranchise\t1680\t1746\t1718\t1768\nCompany restaurants\t69\t69\t69\t69\nBeginning of period\t1749\t1815\t1787\t1837\nFranchise restaurants opened:\t\t\t\t\nDomestic\t1\t0\t1\t0\nInternational\t3\t0\t3\t1\nTotal franchise restaurants opened\t4\t0\t4\t1\nFranchise restaurants permanently closed:\t\t\t\t\nDomestic\t(20)\t(9)\t(52)\t(26)\nInternational\t(5)\t(2)\t(11)\t(8)\nTotal franchise restaurants permanently closed\t(25)\t(11)\t(63)\t(34)\nNet franchise restaurant reduction\t(21)\t(11)\t(59)\t(33)\nSummary - end of period:\t\t\t\t\nFranchise\t1659\t1735\t1659\t1735\nCompany restaurants\t69\t69\t69\t69\nTotal Applebee's restaurants end of period\t1728\t1804\t1728\t1804\nDomestic\t1614\t1667\t1614\t1667\nInternational\t114\t137\t114\t137\n", "q10k_tbl_49": "IHOP\t\t\t\t\nSummary - beginning of period:\t\t\t\t\nFranchise\t1666\t1669\t1680\t1669\nArea license\t157\t159\t161\t162\nTotal IHOP restaurants beginning of period\t1823\t1828\t1841\t1831\nFranchise/area license restaurants opened:\t\t\t\t\nDomestic franchise\t1\t8\t8\t23\nDomestic area license\t2\t3\t3\t5\nInternational franchise\t3\t7\t5\t9\nTotal franchise/area license restaurants opened\t6\t18\t16\t37\nFranchise/area license restaurants permanently closed:\t\t\t\t\nDomestic franchise\t(16)\t(7)\t(35)\t(19)\nDomestic area license\t0\t(1)\t(3)\t(6)\nInternational franchise\t(6)\t(2)\t(10)\t(7)\nInternational area license\t0\t0\t(2)\t0\nTotal franchise/area license restaurants permanently closed\t(22)\t(10)\t(50)\t(32)\nNet franchise/area license restaurant (reduction) addition\t(16)\t8\t(34)\t5\nSummary - end of period:\t\t\t\t\nFranchise\t1648\t1675\t1648\t1675\nArea license\t159\t161\t159\t161\nTotal IHOP restaurants end of period\t1807\t1836\t1807\t1836\nDomestic\t1683\t1708\t1683\t1708\nInternational\t124\t128\t124\t128\n", "q10k_tbl_50": "Revenue\tThree months ended September 30\t\t\tFavorable (Unfavorable) Variance\tNine months ended September 30\t\tFavorable (Unfavorable) Variance\n\t2020\t2019\t\t2020\t2019\t\n\t(In millions)\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nFranchise operations\t121.8\t156.2\t(34.4)\t334.7\t487.8\t(153.1)\nRental operations\t26.2\t29.0\t(2.8)\t78.9\t89.6\t(10.7)\nCompany restaurant operations\t27.4\t30.5\t(3.1)\t75.4\t100.0\t(24.6)\nFinancing operations\t1.3\t1.7\t(0.4)\t4.2\t5.3\t1.1\nTotal revenue\t176.7\t217.4\t(40.7)\t493.2\t682.7\t(189.5)\nChange vs. prior period\t(18.7)%\t\t\t(27.7)%\t\t\n", "q10k_tbl_51": "Gross Profit\tThree months ended September 30\t\t\tFavorable (Unfavorable) Variance\tNine months ended September 30\t\tFavorable (Unfavorable) Variance\n\t2020\t2019\t\t2020\t2019\t\n\t(In millions)\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nFranchise operations\t61.1\t81.6\t(20.5)\t167.5\t254.0\t(86.5)\nRental operations\t5.4\t6.4\t(1.0)\t14.3\t21.4\t(7.1)\nCompany restaurant operations\t(0.9)\t0.2\t(1.1)\t(4.4)\t6.9\t(11.3)\nFinancing operations\t1.2\t1.5\t(0.2)\t3.9\t4.8\t(1.0)\nTotal gross profit\t66.8\t89.7\t(22.9)\t181.3\t287.1\t(105.8)\nChange vs. prior period\t(25.6)%\t\t\t(36.8)%\t\t\n", "q10k_tbl_52": "\tThree months ended September 30\t\t\tFavorable (Unfavorable) Variance\tNine months ended September 30\t\tFavorable (Unfavorable) Variance\nFranchise Operations\t2020\t2019\t\t2020\t2019\t\n\t(In millions except number of restaurants)\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nEffective Franchise Restaurants:(1)\t\t\t\t\t\t\nApplebee's\t1636\t1741\t(105)\t1620\t1752\t(132)\nIHOP\t1687\t1825\t(138)\t1670\t1816\t(146)\nFranchise Revenues:\t\t\t\t\t\t\nApplebee's franchise fees\t32.4\t38.6\t(6.2)\t90.1\t123.3\t(33.3)\nIHOP franchise fees\t37.5\t50.1\t(12.6)\t101.8\t152.6\t(50.7)\nAdvertising fees\t51.9\t67.5\t(15.6)\t142.8\t211.9\t(69.1)\nTotal franchise revenues\t121.8\t156.2\t(34.4)\t334.7\t487.8\t(153.1)\nFranchise Expenses:\t\t\t\t\t\t\nApplebee's\t3.2\t0.4\t(2.8)\t7.8\t2.1\t(5.7)\nIHOP\t5.5\t6.7\t1.1\t16.6\t19.8\t3.2\nAdvertising expenses\t51.9\t67.5\t15.6\t142.8\t211.9\t69.1\nTotal franchise expenses\t60.6\t74.6\t13.9\t167.2\t233.8\t66.6\nFranchise Gross Profit:\t\t\t\t\t\t\nApplebee's\t29.2\t38.2\t(9.0)\t82.3\t121.2\t(39.0)\nIHOP\t31.9\t43.4\t(11.5)\t85.2\t132.8\t(47.5)\nTotal franchise gross profit\t61.1\t81.6\t(20.5)\t167.5\t254.0\t(86.5)\nGross profit as % of revenue (2)\t50.2%\t52.3%\t\t50.1%\t52.1%\t\nGross profit as % of franchise fees (2)(3)\t87.5%\t92.0%\t\t87.3%\t92.1%\t\n", "q10k_tbl_53": "\tThree months ended September 30\t\t\tIncrease (decrease)\tNine months ended September 30\t\tIncrease (decrease)\n\t2020\t2019\t\t2020\t2019\t\n\t(In millions)\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nAdvertising Revenues and Expenses:\t\t\t\t\t\t\nApplebee's\t33.0\t39.0\t(6.0)\t88.0\t124.4\t(36.4)\nIHOP\t18.9\t28.5\t(9.6)\t54.8\t87.5\t(32.7)\nTotal advertising revenues and expenses\t51.9\t67.5\t(15.6)\t142.8\t211.9\t(69.1)\n", "q10k_tbl_54": "Rental Operations\tThree months ended September 30\t\t\tFavorable (Unfavorable) Variance\tNine months ended September 30\t\tFavorable (Unfavorable) Variance\n\t2020\t2019\t\t2020\t2019\t\n\t(In millions)\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nRental revenues\t26.2\t29.0\t(2.8)\t78.9\t89.6\t(10.7)\nRental expenses\t20.8\t22.6\t1.8\t64.6\t68.2\t3.6\nRental operations gross profit\t5.4\t6.4\t(1.0)\t14.3\t21.4\t(7.1)\nGross profit as % of revenue (1)\t20.6%\t22.0%\t\t18.2%\t23.9%\t\n", "q10k_tbl_55": "\tThree months ended September 30\t\t\tFavorable (Unfavorable) Variance\tNine months ended September 30\t\tFavorable (Unfavorable) Variance\n\t2020\t2019\t\t2020\t2019\t\nEffective Restaurants\t69\t69\t0\t68\t69\t(1)\n\t(In millions)\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nCompany restaurant sales(1)\t27.4\t30.5\t(3.1)\t75.4\t100.0\t(24.6)\nCompany restaurant expenses(1)\t27.5\t30.3\t2.8\t78.0\t93.1\t15.1\nIHOP restaurant expenses(2)\t0.8\t0\t(0.8)\t1.8\t0\t(1.8)\nCompany restaurant gross profit\t(0.9)\t0.2\t(1.1)\t(4.4)\t6.9\t(11.3)\nGross profit as % of revenue (3)\t(0.6)%\t0.6%\t\t(3.4)%\t6.9%\t\n", "q10k_tbl_56": "\tThree months ended September 30\t\t\tFavorable (Unfavorable) Variance\tNine months ended September 30\t\tFavorable (Unfavorable) Variance\n\t2020\t2019\t\t2020\t2019\t\n\t(In millions)\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nTotal G&A expenses\t36.9\t38.9\t2.0\t105.4\t121.1\t15.8\n", "q10k_tbl_57": "Impairment and Closure Costs\tThree months ended September 30\t\t\tFavorable (Unfavorable) Variance\tNine months ended September 30\t\tFavorable (Unfavorable) Variance\n\t2020\t2019\t\t2020\t2019\t\n\t(In millions)\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nGoodwill impairment\t0\t0\t0\t92.2\t0\t(92.2)\nTradename impairment\t0\t0\t0\t11.0\t0\t(11.0)\nLong-lived asset impairment\t0\t0\t0\t17.2\t0\t(17.2)\nImpairment of reacquired franchise rights\t0\t0\t0\t3.3\t0\t(3.3)\nClosure costs\t0.2\t0.2\t0.0\t0.8\t0.6\t(0.2)\nTotal\t0.2\t0.2\t0.0\t124.5\t0.6\t(123.9)\n", "q10k_tbl_58": "Other Income and Expense Items\tThree months ended September 30\t\t\tFavorable (Unfavorable) Variance\tNine months ended September 30\t\tFavorable (Unfavorable) Variance\n\t2020\t2019\t\t2020\t2019\t\n\t(In millions)\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nInterest expense net\t16.8\t15.2\t(1.6)\t49.1\t45.2\t(3.9)\nAmortization of intangible assets\t2.7\t2.9\t0.3\t8.2\t8.8\t0.5\nLoss on disposition of assets\t1.1\t0.7\t(0.3)\t2.6\t1.2\t(1.4)\nTotal\t20.6\t18.9\t(1.7)\t60.0\t55.2\t(4.8)\n", "q10k_tbl_59": "Income Taxes\tThree months ended September 30\t\t\tFavorable (Unfavorable) Variance\tNine months ended September 30\t\tFavorable (Unfavorable) Variance\n\t2020\t2019\t\t2020\t2019\t\n\t(In millions)\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nIncome (loss) before income taxes\t9.2\t31.7\t(22.5)\t(108.6)\t101.9\t(210.5)\nIncome tax provision (benefit)\t(0.9)\t7.8\t8.7\t(6.1)\t25.0\t31.1\nEffective tax rate\t(9.5)%\t24.6%\t34.1%\t5.6%\t24.5%\t18.9%\n", "q10k_tbl_60": "\tShares\tCost of shares\n\t\t(In millions)\n2019 Repurchase Program:\t\t\nRepurchased during the three months ended September 30 2020\t0\t0\nRepurchased during the nine months ended September 30 2020\t459899\t26.5\nCumulative (life-of-program) repurchases\t1697597\t129.8\nRemaining dollar value of shares that may be repurchased\tn/a\t70.2\n", "q10k_tbl_61": "\tNine months ended September 30\t\t\n\t2020\t2019\tVariance\n\t(In millions)\t\t\t\t\t\t\t\t\nNet cash provided by operating activities\t36.7\t105.6\t(68.9)\nNet cash provided by (used in) investing activities\t5.3\t(4.0)\t9.3\nNet cash provided by (used in) financing activities\t175.1\t(149.1)\t324.2\nNet increase (decrease) in cash cash equivalents and restricted cash\t217.1\t(47.5)\t264.6\n", "q10k_tbl_62": "\t\tSeptember 30 2020\n\t(In millions)\t\t\t\t\nCash and cash equivalents\t\t309.3\nRestricted cash current\t\t47.5\nRestricted cash non-current\t\t32.8\nTotal\t\t389.6\n", "q10k_tbl_63": "\tNine months ended September 30\t\t\n\t2020\t2019\tVariance\n\t(In millions)\t\t\t\t\t\t\t\t\nCash flows provided by operating activities\t36.7\t105.6\t(68.9)\nReceipts from notes and equipment contracts receivable\t8.0\t8.6\t(0.6)\nAdditions to property and equipment\t(9.1)\t(13.4)\t4.3\nAdjusted free cash flow\t35.6\t100.8\t(65.2)\n", "q10k_tbl_64": "Purchases of Equity Securities by the Company\t\t\t\t\nPeriod\tTotal number of shares purchased\tAverage price paid per share\tTotal number of shares purchased as part of publicly announced plans or programs (b)\tApproximate dollar value of shares that may yet be purchased under the plans or programs (b)\nJune 29 2020 - July 26 2020(a)\t1973\t39.20\t0\t70200000\nJuly 27 2020 - August 23 2020(a)\t2154\t53.35\t0\t70200000\nAugust 24 2020 - September 27 2020(a)\t1898\t61.19\t0\t70200000\n\t6025\t51.18\t0\t70200000\n", "q10k_tbl_65": "*31.1\tCertification of Chief Executive Officer pursuant to Rule 13a-14(a) of the Securities Exchange Act of 1934 as amended.\n*31.2\tCertification of Chief Financial Officer pursuant to Rule 13a-14(a) of the Securities Exchange Act of 1934 as amended.\n*32.1\tCertification of Chief Executive Officer pursuant to 18 U.S.C. Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.**\n*32.2\tCertification of Chief Financial Officer pursuant to 18 U.S.C. Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.**\n101.INS\tXBRL Instance Document - the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document.\n101.SCH\tInline XBRL Schema Document.***\n101.CAL\tInline XBRL Calculation Linkbase Document.***\n101.DEF\tInline XBRL Definition Linkbase Document.***\n101.LAB\tInline XBRL Label Linkbase Document.***\n101.PRE\tInline XBRL Presentation Linkbase Document.***\n104\tCover page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101)\n"}{"bs": "q10k_tbl_3", "is": "q10k_tbl_4", "cf": "q10k_tbl_9"}None
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading symbol(s)
Name of each exchange on which registered
Common Stock, $0.01 par value
DIN
New York Stock Exchange
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes☒ No ☐
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes☒ No ☐
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company or an emerging growth company. See definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
Large accelerated filer
☒
Accelerated filer
☐
Non-accelerated filer
☐
Smaller reporting company
☐
Emerging growth company
☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act ☐
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐
No ☒
As of October 21, 2020, the Registrant had 16,418,749 shares of Common Stock outstanding.
Statements contained in this Quarterly Report on Form 10-Q may constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results to be materially different from those expressed or implied in such statements. You can identify these forward-looking statements by words such as “may,” “will,” “would,” “should,” “could,” “expect,” “anticipate,” “believe,” “estimate,” “intend,” “plan,” “goal” and other similar expressions. You should consider our forward-looking statements in light of the risks discussed under the heading “Risk Factors,” as well as our consolidated financial statements, related notes, and the other financial information appearing elsewhere in this report and our other filings with the United States Securities and Exchange Commission. The forward-looking statements contained in this report are made as of the date hereof and Dine Brands Global, Inc. does not intend to, nor does it assume any obligation to, update or supplement any forward-looking statements after the date of this report to reflect actual results or future events or circumstances.
Factors that could cause actual results to differ materially from the projections, forecasts, estimates and expectations discussed in this Quarterly Report on Form 10-Q include, among other things: uncertainty regarding the duration and severity of the ongoing COVID-19 pandemic and its ultimate impact on our business; general economic conditions; our level of indebtedness; compliance with the terms of our securitized debt; our ability to refinance our current indebtedness or obtain additional financing; our dependence on information technology; potential cyber incidents; the implementation of restaurant development plans; our dependence on our franchisees; the concentration of our Applebee’s franchised restaurants in a limited number of franchisees; the financial health of our franchisees, including any insolvency or bankruptcy; credit risks from our IHOP franchisees operating under our previous IHOP business model in which we built and equipped IHOP restaurants and then franchised them to franchisees; insufficient insurance coverage to cover potential risks associated with the ownership and operation of restaurants; our franchisees’ and other licensees’ compliance with our quality standards and trademark usage; general risks associated with the restaurant industry; potential harm to our brands’ reputation; risks of food-borne illness or food tampering; possible future impairment charges; trading volatility and fluctuations in the price of our stock; our ability to achieve the financial guidance we provide to investors; successful implementation of our business strategy; the availability of suitable locations for new restaurants; shortages or interruptions in the supply or delivery of products from third parties or availability of utilities; the management and forecasting of appropriate inventory levels; development and implementation of innovative
marketing and use of social media; changing health or dietary preference of consumers; risks associated with doing business in international markets; the results of litigation and other legal proceedings; third-party claims with respect to intellectual property assets; delivery initiatives and use of third-party delivery vendors; our allocation of human capital and our ability to attract and retain management and other key employees; compliance with federal, state and local governmental regulations; risks associated with our self-insurance; natural disasters or other serious incidents; our success with development initiatives outside of our core business; the adequacy of our internal controls over financial reporting and future changes in accounting standards; and other matters in the “Risk Factors” section of our Annual Report on Form 10-K for the fiscal year ended December 31, 2019 and in our Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2020, many of which are beyond our control.
Fiscal Quarter End
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 2020 began on December 30, 2019 and ended on March 29, 2020; the second and third fiscal quarters of 2020 ended on June 28, 2020 and September 27, 2020, respectively. The first fiscal quarter of 2019 began on December 31, 2018 and ended on March 31, 2019; the second and third fiscal quarters of 2019 ended on June 30, 2019 and September 29, 2019, respectively.