IHOP 2012 Annual Report Download - page 47

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Item 6. Selected Financial Data.
The following selected consolidated financial data should be read in conjunction with the consolidated financial statements
and notes thereto and "Management's Discussion and Analysis of Financial Condition and Results of Operations" appearing
elsewhere in this Annual Report on Form 10-K. The consolidated statement of operations information and the consolidated balance
sheet data for the years ended and as of December 31, 2012, 2011, 2010, 2009 and 2008 are derived from our audited consolidated
financial statements.
Fiscal Year Ended December 31,
2012 2011 2010 2009 2008
(In millions, except per share amounts)
Segment Revenues
Franchise revenues ............................................................................................... $ 421.4 $ 398.5 $ 377.1 $ 373.0 $ 353.3
Company restaurant sales(a) ................................................................................ 291.1 531.0 815.6 890.0 1,103.2
Rental income....................................................................................................... 122.9 126.0 124.5 133.9 131.4
Financing revenues............................................................................................... 14.5 19.7 16.4 17.9 25.7
Total revenues................................................................................................. 849.9 1,075.2 1,333.6 1,414.8 1,613.6
Segment Expenses
Franchise expenses............................................................................................... 109.9 105.0 103.5 102.2 96.2
Company restaurant expenses(a).......................................................................... 249.3 458.4 699.3 766.5 978.2
Rental expenses.................................................................................................... 97.2 98.2 99.0 100.2 98.1
Financing expenses............................................................................................... 1.6 6.0 2.0 0.4 7.3
Total segment expenses.................................................................................. 458.0 667.6 903.8 969.3 1,179.8
Gross segment profit ............................................................................................ 391.9 407.6 429.8 445.5 433.8
General and administrative expenses ................................................................... 163.2 155.8 160.3 157.7 182.3
Interest expense.................................................................................................... 114.3 132.7 171.5 186.3 203.2
Impairment and closure charges........................................................................... 4.2 29.9 4.3 105.6 240.6
Amortization of intangible assets......................................................................... 12.3 12.3 12.3 12.3 12.1
Loss (gain) on extinguishment of debt and temporary equity.............................. 5.6 11.2 107.0 (45.7) (15.2)
(Gain) loss on disposition of assets...................................................................... (102.6) (43.3) (13.5) (7.3) 0.3
Other (income) expense, net................................................................................. — 4.0 — — (1.3)
Income (loss) before income taxes............................................................................. 194.9 105.0 (12.1) 36.6 (188.2)
Income tax (provision) benefit ................................................................................... (67.2) (29.8) 9.3 (5.2) 33.7
Net income (loss)....................................................................................................... $ 127.7 $ 75.2 $ (2.8) $ 31.4 (154.5)
Net income (loss)........................................................................................................ $ 127.7 $ 75.2 $ (2.8) $ 31.4 $ (154.5)
Less: Series A preferred stock dividends.................................................................... — — (25.9) (19.5) (19.0)
Less: Accretion of Series B preferred stock............................................................... (2.5) (2.6) (2.5) (2.3) (2.1)
Less: Net (income) loss allocated to unvested participating restricted stock............. (2.7) (1.9) 1.2 (0.4) 6.4
Net income (loss) available to common stockholders............................................ $ 122.5 $ 70.7 $ (30.0) $ 9.2 $ (169.2)
Net income (loss) available to common stockholders per share:
Basic..................................................................................................................... $ 6.81 $ 3.96 $ (1.74) $ 0.55 $ (10.09)
Diluted.................................................................................................................. $ 6.63 $ 3.89 $ (1.74) $ 0.55 $ (10.09)
Weighted average shares outstanding:
Basic..................................................................................................................... 18.0 17.8 17.2 16.9 16.8
Diluted.................................................................................................................. 18.9 18.2 17.2 16.9 16.8
Dividends declared per common share(b).............................................................. $ — $ — $ — $ — $ 1.00
Dividends paid per common share(b)..................................................................... $ — $ — $ — $ — $ 1.00
Balance Sheet Data (end of year)
Cash and cash equivalents.................................................................................... $ 64.5 $ 60.7 $ 102.3 $ 82.3 $ 114.4
Restricted cash—short-term(c)............................................................................. 1.9 1.2 0.9 72.7 83.4
Restricted cash—long-term(c) ............................................................................. — — 0.8 48.2 53.4
Property and equipment, net................................................................................. 294.4 474.2 612.2 771.4 824.5
Total assets............................................................................................................ 2,415.4 2,614.3 2,856.6 3,100.9 3,361.2
Long-term debt, less current maturities................................................................ 1,202.1 1,411.4 1,631.5 1,637.2 1,853.4
Financing obligations, less current maturities...................................................... 52.0 162.7 237.8 309.4 318.7
Capital lease obligations, less current maturities ................................................. 124.4 134.4 144.0 152.8 161.3
Stockholders' equity ............................................................................................. 308.8 155.2 83.6 69.9 42.8
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(a) We have refranchised 479 Applebee's company-operated restaurants since December 31, 2007.
(b) Effective December 11, 2008, the Company suspended payments of dividends on DineEquity common stock.
(c) Cash restrictions related to securitized debt were eliminated by a refinancing of long-term debt in 2010.