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Current Expected Credit Losses ("CECL") (Tables)

6 Months Ended

Jun. 30, 2024

Credit Loss [Abstract]

Schedule of Accounts, Notes, Loans and Financing Receivable

Receivables due from distributors are related to the sale of proprietary products to franchisees through the Company’s network of suppliers and distributors and are included as part of Other receivables.

						June 30, 2024						December 31, 2023
						(In millions)
Accounts receivable						$	64.9					$	68.0
Gift cards receivable						6.6						33.7
Notes receivable						8.4						14.9
Financing receivable:
Equipment leases receivable						16.3						19.7
Real estate leases receivable						19.1						18.4
Other receivables						6.0						18.3
						121.3						173.0
Less: allowance for credit losses and notes receivable						(4.4)						(9.5)
						116.9						163.5
Less: current portion						(83.2)						(127.9)
Long-term receivables						$	33.7					$	35.6

Schedule of Changes in Allowance for Credit Losses

Changes in the allowance for credit losses during the six months ended June 30, 2024 were as follows:

						Accounts Receivable						Notes Receivable, short-term						Notes Receivable, long-term						Real estate leases receivable						Equipment leases receivable						Other (1)						Total
						(In millions)
Balance, December 31, 2023						$	2.5					$	1.8					$	4.8					$	0.2					$	0.2					$	0.0					$	9.5
Bad debt expense (credit)						0.5						(0.7)						(0.5)						0.0						0.1						0.0						(0.5)
Advertising provision adjustment						(0.0)						—						—						—						—						—						0.0
Write-offs						0.0						(0.5)						(3.8)						—						(0.2)						(0.0)						(4.5)
Balance, June 30, 2024						$	3.0					$	0.6					$	0.5					$	0.2					$	0.1					$	0.0					$	4.4

(1) Primarily distributor receivables, gift card receivables and credit card receivables.

Financing Receivable Credit Quality Indicators

The year of origination of the Company's financing receivables at June 30, 2024 is as follows:

						Notes Receivable, short and long-term						Real estate leases receivable						Equipment leases receivable						Total
						(In millions)
2024						$	1.5					$	2.0					$	0.2					$	3.7
2023						5.5						3.4						0.8						9.7
2022						0.7						7.9						—						8.6
2021						0.5						2.2						—						2.7
2020						0.2						1.2						—						1.4
Prior						—						2.4						15.3						17.7
Total						$	8.4					$	19.1					$	16.3					$	43.8

X

- Definition

Tabular disclosure of allowance for credit loss on financing receivable.

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- Definition

Tabular disclosure of financing receivables by credit quality indicator. The credit quality indicator is a statistic about the credit quality of financing receivables. Examples include, but not limited to, consumer credit risk scores, credit-rating-agency ratings, an entity's internal credit risk grades, loan-to-value ratios, collateral, collection experience and other internal metrics.

+ References

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Tabular disclosure of the various types of trade accounts and notes receivable and for each the gross carrying value, allowance, and net carrying value as of the balance sheet date. Presentation is categorized by current, noncurrent and unclassified receivables.

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