IHOP 2010 Annual Report Download - page 110
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DineEquity, Inc. and Subsidiaries
Notes to the Consolidated Financial Statements (Continued)
3. Receivables (Continued)
The following table summarizes the activity in the allowance for doubtful accounts:
Allowance for Doubtful Accounts (In million)
Balance at December 31, 2007 ............................... $3.0
Provision ............................................. 1.3
Charge-offs ............................................ (1.6)
Recoveries ............................................ 0.2
Balance at December 31, 2008 ............................... 2.9
Provision ............................................. 1.7
Charge-offs ............................................ (1.3)
Recoveries ............................................ 0.1
Balance at December 31, 2009 ............................... 3.4
Provision ............................................. 3.4
Charge-offs ............................................ (0.8)
Recoveries ............................................ 0.2
Balance at December 31, 2010 ............................... $6.2
4. Assets Held For Sale
The Company classifies assets as held for sale and ceases the depreciation of the assets when there
is a plan for disposal of the assets and those assets meet the held for sale criteria as defined in
U.S. GAAP. Reacquired franchises, property and equipment and other assets held for sale are
accounted for on the specific identification basis.
Reacquired franchises
For reacquired franchises, the Company records the franchise and equipment at the lower of
(1) the sum of the franchise receivables and costs of reacquisition, or (2) the estimated net realizable
value at the reacquisition date. Pending the sale of such franchise, the carrying value is amortized
ratably over the remaining life of the asset or lease, and the estimated net realizable value is evaluated
in conjunction with our impairment evaluation of long-lived assets. There was $332,000 in reacquired
franchises and equipment included in assets held for sale at December 31, 2010 and $469,000 at
December 31, 2009.
Property and equipment
At December 31, 2009, assets held for sale primarily consisted of four parcels of land previously
intended for future restaurant development, four parcels of land on which Applebee’s franchised
restaurants are situated, the net assets of one Applebee’s restaurant expected to be sold, property and
equipment from one previously closed Applebee’s restaurant and one IHOP restaurant held for
refranchising.
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