$DIN

DineEquity, Inc

CIK:0000049754|SEC Filings

Condensed Consolidated Statements of Comprehensive Income - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 28, 2026	Jun. 29, 2025	Jun. 28, 2026	Jun. 29, 2025
Revenues:
Rental revenues	$ 26.7	$ 27.9	$ 53.5	$ 54.8
Total revenues	240.9	230.8	466.1	445.5
Cost of revenues:
Total franchise expenses	(80.7)	(86.4)	(163.1)	(167.6)
Company-owned restaurant expenses	(49.1)	(30.9)	(84.0)	(52.9)
Rental expenses	(19.9)	(21.3)	(40.5)	(42.5)
Total cost of revenues	(149.7)	(138.6)	(287.6)	(263.0)
Gross profit	91.2	92.2	178.5	182.5
General and administrative expenses	(55.6)	(50.8)	(108.7)	(102.1)
Interest expense, net	(22.0)	(17.7)	(43.8)	(35.5)
Closure and impairment charges	(4.0)	(1.2)	(4.8)	(7.0)
Amortization of intangible assets	(3.9)	(2.7)	(7.6)	(5.4)
Loss on extinguishment of debt	0.0	(0.9)	0.0	(0.9)
Gain on disposition of assets	0.3	0.0	2.5	0.1
Income before income taxes	6.0	18.9	16.1	31.7
Income tax provision	(1.7)	(5.1)	(4.4)	(9.7)
Net income	4.3	13.8	11.7	22.0
Net income available to common stockholders:
Net income	4.3	13.8	11.7	22.0
Less: Net income allocated to unvested restricted stock	(0.1)	(0.6)	(0.3)	(0.9)
Net income available to common stockholders, basic	4.2	13.2	11.4	21.1
Net income available to common stockholders, diluted	$ 4.2	$ 13.2	$ 11.4	$ 21.1
Net income available to common stockholders per share:
Basic (in dollars per share)	$ 0.35	$ 0.89	$ 0.94	$ 1.41
Diluted (in dollars per share)	$ 0.35	$ 0.89	$ 0.92	$ 1.41
Weighted average shares outstanding:
Basic (in shares)	12.0	14.9	12.1	14.9
Diluted (in shares)	12.1	14.9	12.4	14.9
Other comprehensive income, net of tax:
Foreign currency translation adjustment	$ 0.0	$ 0.0	$ 0.0	$ 0.0
Total comprehensive income	4.3	13.8	11.7	22.0
Franchise Revenues
Revenues:
Revenue from contract with customer	166.9	174.7	331.9	340.9
Royalties, franchise fees and other
Revenues:
Revenue from contract with customer	95.0	101.2	188.9	196.9
Advertising revenues
Revenues:
Revenue from contract with customer	71.9	73.5	143.0	144.0
Company-owned restaurant revenues
Revenues:
Revenue from contract with customer	47.3	28.2	80.7	49.8
Advertising expenses
Revenues:
Revenue from contract with customer	71.9	73.5	143.0	144.0
Cost of revenues:
Total franchise expenses	(71.9)	(73.5)	(143.0)	(144.0)
Other franchise expenses
Cost of revenues:
Total franchise expenses	$ (8.8)	$ (12.9)	$ (20.1)	$ (23.6)

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jun. 28, 2026	Jun. 29, 2025
Cash flows from operating activities:
Net income	$ 11.7	$ 22.0
Adjustments to reconcile net income to cash flows provided by operating activities:
Depreciation and amortization	23.8	20.8
Non-cash impairment and closure charges	4.8	7.0
Non-cash stock-based compensation expense	7.5	6.6
Non-cash interest expense	1.9	1.8
Loss on extinguishment of debt	0.0	0.9
Deferred income taxes	(1.1)	(4.2)
Provision for doubtful accounts	1.8	3.2
Gain on disposition of assets	(2.5)	(0.1)
Changes in operating assets and liabilities:
Receivables	2.3	(6.0)
Prepaid expenses	(2.4)	4.7
Other changes in other assets and liabilities	(3.8)	(2.2)
Gift cards receivables and payables	(3.3)	0.8
Accounts payable and other accrued expenses	(12.2)	8.9
Operating lease assets and liabilities	(6.2)	(7.1)
Accrued interest payable	0.0	(1.4)
Deferred revenue	(2.4)	(2.6)
Cash flows provided by operating activities	19.9	53.1
Cash flows from investing activities:
Principal receipts from notes, equipment contracts and other long-term receivables	7.0	4.9
Additions to property and equipment	(23.2)	(9.3)
Proceeds from sale of property and equipment	3.8	1.0
Additions to long-term receivables	0.0	(1.9)
Acquisition, net of cash acquired	4.1	0.9
Additions to intangible assets	(0.7)	(0.7)
Cash flows used in investing activities	(9.0)	(5.1)
Cash flows from financing activities:
Proceeds from revolving line of credit	30.0	0.0
Repayment of revolving line of credit	(30.0)	0.0
Borrowing from long-term debt	0.0	600.0
Repayment of long-term debt	0.0	(594.0)
Payment of debt issuance costs	0.0	(11.6)
Dividends paid on common stock	(4.8)	(15.8)
Repurchase of common stock	(29.3)	(7.6)
Principal payments on finance lease and financing obligations	(2.5)	(2.5)
Repurchase of restricted stock for tax payments upon vesting	(3.2)	(1.8)
Cash flows used in financing activities	(39.8)	(33.3)
Net change in cash, cash equivalents and restricted cash	(28.9)	14.7
Cash, cash equivalents and restricted cash at beginning of period	201.7	248.6
Cash, cash equivalents and restricted cash at end of period	172.8	263.3
Supplemental disclosures:
Interest paid in cash	45.4	39.6
Income taxes paid in cash	5.7	3.3
Non-cash conversion to notes receivable	$ 0.9	$ 3.8

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 28, 2026	Dec. 28, 2025
Current assets:
Cash and cash equivalents	$ 97.5	$ 128.2
Receivables, net	86.8	119.0
Restricted cash	52.8	51.5
Prepaid expenses	50.0	49.0
Other current assets	2.3	4.1
Total current assets	289.4	351.8
Intangible assets, net	524.0	534.1
Operating lease right-of-use assets	427.5	328.7
Goodwill	249.6	249.6
Property and equipment, net of accumulated depreciation and amortization of $330.4 (2026) and $317.9 (2025)	173.4	160.5
Long-term receivables, net of allowance	25.6	33.8
Non-current restricted cash	22.5	22.0
Other non-current assets, net	59.7	57.1
Total assets	1,771.7	1,737.7
Current liabilities:
Accounts payable and other accrued liabilities	87.6	93.2
Gift card liability	158.1	182.7
Current portion of operating leases obligations	69.9	67.6
Current portion of finance leases	6.4	6.6
Dividends payable	2.6	2.5
Accrued interest payable	7.3	7.3
Deferred franchise revenue, short-term	5.1	5.6
Total current liabilities	337.0	365.6
Long-term debt, net	1,189.5	1,188.2
Operating lease obligations, less current portion	394.1	305.3
Finance lease obligations, less current portion	29.4	32.2
Deferred income taxes, net	50.1	51.2
Deferred franchise revenue, long-term	32.3	34.2
Other non-current liabilities	31.3	35.0
Total liabilities	2,063.7	2,011.5
Stockholders’ deficit:
Preferred stock, $1 par value, 10,000,000 shares authorized; no shares issued and outstanding	0.0	0.0
Common stock, $0.01 par value; shares: 40,000,000 authorized; June 28, 2026 - 24,512,821 issued, 12,671,279 outstanding	0.2	0.2
Additional paid-in-capital	224.0	239.9
Retained earnings	181.9	175.1
Accumulated other comprehensive loss	(0.1)	(0.1)
Treasury stock, at cost; shares: June 28, 2026 - 11,841,542	(698.0)	(689.1)
Total stockholders’ deficit	(292.0)	(273.9)
Total liabilities and stockholders’ deficit	$ 1,771.7	$ 1,737.7