Other Intangible Assets

12 Months Ended

Dec. 31, 2023

Intangible Assets, Net (Excluding Goodwill) [Abstract]

The significant majority of the Company's other intangible assets arose from the November 29, 2007 acquisition of Applebee's. Franchise rights, reacquired franchise rights, favorable leaseholds, and recipes, which is included in Other below, is subject to amortization. Changes in the carrying amounts for the years ended December 31, 2023, 2022 and 2021 are as follows:


	Tradenames		Franchising Rights		Reacquired Franchise Rights		Favorable Leaseholds		Other		Total
	(In millions)




Balance at December 31, 2020	$	468.0	$	69.0	$	5.7	$	3.2	$	3.8	$	549.7

Amortization expense	—		(10.0)		(0.6)		(0.1)		—		(10.7)
Additions	—		—		—		—		0.4		0.4
Balance at December 31, 2021	468.0		59.0		5.1		3.1		4.2		539.4

Amortization expense	—		(10.0)		(0.4)		(0.1)		—		(10.6)
Additions	57.2		14.8		—		—		0.8		72.8
Disposition	—		—		(4.7)		—		—		(4.7)
Balance at December 31, 2022	525.2		63.8		—		3.0		5.0		597.0
Impairment	—		—		—		—		(0.3)		(0.3)
Amortization expense	—		(10.8)		—		(0.1)		0.0		(10.9)
Additions	—		—		—		—		0.2		0.2

Balance at December 31, 2023	$	525.2	$	53.0	$	—	$	2.9	$	4.9	$	586.0

In December 2022, the Company acquired Fuzzy's and recorded $57.2 million of tradename, $14.8 million of franchising rights and $0.5 million of recipes as intangible assets. In October 2022, the $4.7 million disposition of assets was related to the refranchising and sale of the restaurant assets of 69 Applebee's company-operated restaurants. Additions and impairment of other intangibles for the years ended December 31, 2023, 2022, and 2021 are individually insignificant.

The estimated annual amortization expense for the next five fiscal years are as follows:


	Franchising rights		Favorable leaseholds		Other		Total
	(In millions)
2024	$	10.7	$	0.2	$	0.0	$	10.9
2025	10.7		0.2		$	0.0	$	10.9
2026	10.7		0.2		$	0.0	$	10.9
2027	9.8		0.2		$	0.0	$	10.0
2028	0.7		0.2		$	0.0	$	0.9

Gross and net carrying amounts of intangible assets subject to amortization at December 31, 2023 and 2022 are as follows:


	December 31, 2023						December 31, 2022
	Gross		Accumulated Amortization		Net		Gross		Accumulated Amortization		Net
	(In millions)
Franchising rights	$	214.8	$	(161.8)	$	53.0	$	214.8	$	(151.0)	$	63.8

Favorable leaseholds	3.4		(0.5)		2.9		$	3.4	$	(0.4)	3.0
Total	$	218.2	$	(162.2)	$	55.9	$	218.2	$	(151.4)	$	66.8

In the fourth quarter of fiscal 2023, the Company performed a quantitative assessment of the Applebee's tradename and concluded the fair value exceeded the carrying amount. In the fourth quarter of fiscal 2022, the Company performed a qualitative assessment of the Applebee's tradename and concluded the fair value exceeded the carrying amount.