IHOP 2012 Annual Report Download - page 114

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DineEquity, Inc. and Subsidiaries
Notes to the Consolidated Financial Statements (Continued)
96
21. Consolidating Financial Information
Certain of our subsidiaries have guaranteed our obligations under the Credit Facility. The following presents the condensed
consolidating financial information separately for: (i) the Parent Company, the issuer of the guaranteed obligations; (ii) the
Guarantor subsidiaries, on a combined basis, as specified in the Credit Agreement; (iii) the Non-guarantor subsidiaries, on a
combined basis; (iv) Consolidating eliminations and reclassification; and (v) DineEquity, Inc. and Subsidiaries on a consolidated
basis.
Each guarantor subsidiary is 100% owned by the Parent Company at the date of each balance sheet presented. The Term
Loans under the Credit Facility are fully and unconditionally guaranteed on a joint and several basis by each guarantor subsidiary.
Each entity in the consolidating financial information follows the same accounting policies as described in the consolidated financial
statements.