IHOP 2013 Annual Report Download - page 117

DineEquity, Inc. and Subsidiaries
Notes to the Consolidated Financial Statements (Continued)
96
17. Segment Reporting
Information on segments and a reconciliation to income (loss) before income taxes are as follows:
Year Ended December 31,
2013 2012 2011
Revenues (In millions)
Franchise operations ....................................................................................... $ 439.2 $ 421.4 $ 398.5
Company restaurants....................................................................................... 63.4 291.1 531.0
Rental operations............................................................................................. 124.8 122.9 126.0
Financing operations ....................................................................................... 13.1 14.5 19.7
Total............................................................................................................ $ 640.5 $ 849.9 $ 1,075.2
Income (loss) before income taxes
Franchise operations ....................................................................................... $ 329.5 $ 311.5 $ 293.5
Company restaurants....................................................................................... (0.2) 41.8 72.6
Rental operations............................................................................................. 27.5 25.7 27.8
Financing operations ....................................................................................... 12.9 12.9 13.7
Corporate......................................................................................................... (259.1) (197.0) (302.6)
Income (loss) before income taxes ............................................................ $ 110.6 $ 194.9 $ 105.0
Interest expense
Company restaurants....................................................................................... $ 0.4 $ 0.4 $ 0.5
Rental operations............................................................................................. 15.7 17.0 18.0
Corporate......................................................................................................... 100.3 114.3 132.7
Total............................................................................................................ $ 116.4 $ 131.7 $ 151.2
Depreciation and amortization
Franchise operations ....................................................................................... $ 10.8 $ 9.8 $ 9.9
Company restaurants....................................................................................... 2.2 6.9 16.6
Rental operations............................................................................................. 13.4 13.6 14.0
Corporate......................................................................................................... 9.0 9.2 9.7
Total............................................................................................................ $ 35.4 $ 39.5 $ 50.2
Closure and impairment charges
Company restaurants....................................................................................... $ 1.8 $ 4.2 $ 2.4
Corporate......................................................................................................... — — 27.5
Total............................................................................................................ $ 1.8 $ 4.2 $ 29.9
Capital expenditures
Company restaurants....................................................................................... $ 1.3 $ 9.5 $ 15.5
Corporate......................................................................................................... 5.7 7.5 10.8
Total $ 7.0 $ 17.0 $ 26.3
Goodwill (all franchise segment) ................................................................... $ 697.5 $ 697.5 $ 697.5
Total assets
Franchise operations ....................................................................................... $ 1,606.4 $ 1,523.0 $ 1,472.3
Company restaurants....................................................................................... 191.6 186.2 423.1
Rental operations............................................................................................. 364.0 397.3 407.9
Financing operations ....................................................................................... 117.1 125.4 136.4
Corporate......................................................................................................... 125.5 183.5 174.6
Total............................................................................................................ $ 2,404.6 $ 2,415.4 $ 2,614.3
18. 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.