IHOP 2013 Annual Report Download - page 86

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65
DineEquity, Inc. and Subsidiaries
Consolidated Statements of Comprehensive Income
(In thousands, except per share amounts)
Year Ended December 31,
2013 2012 2011
Segment Revenues:
Franchise and restaurant revenues................................................................ $ 502,586 $ 712,580 $ 929,523
Rental revenues ............................................................................................ 124,769 122,859 125,960
Financing revenues....................................................................................... 13,112 14,489 19,715
Total segment revenues..................................................................................... 640,467 849,928 1,075,198
Segment Expenses:
Franchise and restaurant expenses ............................................................... 173,232 359,196 563,449
Rental expenses ............................................................................................ 97,298 97,165 98,147
Financing expenses ...................................................................................... 245 1,623 5,973
Total segment expenses..................................................................................... 270,775 457,984 667,569
Gross segment profit....................................................................................... 369,692 391,944 407,629
General and administrative expenses................................................................ 143,586 163,215 155,822
Interest expense................................................................................................. 100,264 114,338 132,707
Amortization of intangible assets...................................................................... 12,282 12,293 12,300
Closure and impairment charges....................................................................... 1,812 4,218 29,865
Loss on extinguishment of debt ........................................................................ 58 5,554 11,159
Debt modification costs .................................................................................... 1,296 — 4,031
Gain on disposition of assets............................................................................. (223)(102,597)(43,253)
Income before income taxes ............................................................................. 110,617 194,923 104,998
Income tax provision......................................................................................... (38,580)(67,249)(29,806)
Net income ....................................................................................................... 72,037 127,674 75,192
Other comprehensive income (loss), net of tax:
Adjustment to unrealized loss on available-for-sale investments ................. — 140 —
Foreign currency translation adjustment ....................................................... (12)2
(12)
Total comprehensive income.......................................................................... $ 72,025 $ 127,816 $ 75,180
Net income available to common stockholders:
Net income ........................................................................................................ $ 72,037 $ 127,674 $ 75,192
Less: Net income allocated to unvested participating restricted stock ............. (1,200)(2,718)(1,886)
Less: Accretion of Series B preferred stock...................................................... —(2,498)(2,573)
Net income available to common stockholders ................................................ $ 70,837 $ 122,458 $ 70,733
Net income available to common stockholders per share:
Basic .............................................................................................................. $ 3.75 $ 6.81 $ 3.96
Diluted ........................................................................................................... $ 3.70 $ 6.63 $ 3.89
Weighted average shares outstanding:
Basic .............................................................................................................. 18,871 17,992 17,846
Diluted ........................................................................................................... 19,141 18,877 18,185
Dividends declared per common share ......................................................... $ 3.00 $ — $ —
Dividends paid per common share ................................................................ $ 3.00 $ — $ —
See the accompanying notes to the consolidated financial statements.