IHOP 2015 Annual Report Download - page 75

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55
DineEquity, Inc. and Subsidiaries
Consolidated Statements of Comprehensive Income
(In thousands, except per share amounts)
Year Ended December 31,
2015 2014 2013
Revenues:
Franchise and restaurant revenues................................................................ $ 542,606 $ 518,579 $ 502,586
Rental revenues ............................................................................................ 127,650 122,932 124,769
Financing revenues....................................................................................... 10,844 13,477 13,112
Total revenues................................................................................................... 681,100 654,988 640,467
Cost of revenues:
Franchise and restaurant expenses ............................................................... 186,986 184,411 173,232
Rental expenses............................................................................................ 94,588 94,637 97,298
Financing expenses ...................................................................................... 520 825 245
Total cost of revenues........................................................................................ 282,094 279,873 270,775
Gross profit...................................................................................................... 399,006 375,115 369,692
General and administrative expenses................................................................ 155,428 145,910 143,586
Interest expense................................................................................................. 63,254 96,637 100,264
Amortization of intangible assets...................................................................... 10,000 12,063 12,282
Closure and impairment charges....................................................................... 2,576 3,721 1,812
Loss on extinguishment of debt ........................................................................ — 64,859 58
Debt modification costs .................................................................................... — — 1,296
(Gain) loss on disposition of assets................................................................... (901) 329 (223)
Income before income tax provision................................................................. 168,649 51,596 110,617
Income tax provision......................................................................................... (63,726)(15,143)(38,580)
Net income ....................................................................................................... 104,923 36,453 72,037
Other comprehensive income (loss), net of tax:
Adjustment to unrealized loss on available-for-sale investments ................. — 107 —
Foreign currency translation adjustment ....................................................... (34)(16)(12)
Total comprehensive income.......................................................................... $ 104,889 $ 36,544 $ 72,025
Net income available to common stockholders:
Net income........................................................................................................ $ 104,923 $ 36,453 $ 72,037
Less: Net income allocated to unvested participating restricted stock ............. (1,400)(521)(1,200)
Net income available to common stockholders ................................................ $ 103,523 $ 35,932 $ 70,837
Net income available to common stockholders per share:
Basic .............................................................................................................. $ 5.55 $ 1.92 $ 3.75
Diluted........................................................................................................... $ 5.52 $ 1.90 $ 3.70
Weighted average shares outstanding:
Basic .............................................................................................................. 18,637 18,753 18,871
Diluted........................................................................................................... 18,768 18,956 19,141
Dividends declared per common share......................................................... $ 3.545 $ 3.125 $ 3.00
Dividends paid per common share ................................................................ $ 3.50 $ 2.25 $ 3.00
See the accompanying notes to the consolidated financial statements.