Other Intangible Assets

12 Months Ended

Dec. 31, 2024

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. Franchising 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, 2024, 2023 and 2022 are as follows:


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








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)		—		(10.9)
Additions	—		—		—		—		0.2		0.2

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

Amortization expense	—		(10.7)		—		(0.1)		0.0		(10.8)
Additions	—		—		0.3		—		0.5		0.8
Disposition	—		—		(0.3)		—		—		(0.3)
Balance at December 31, 2024	$	525.2	$	42.3	$	—	$	2.8	$	5.4	$	575.7

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. In November 2024, the Company acquired 56 Applebee's restaurants and simultaneously refranchised nine restaurants. The Company provisionally completed the purchase price allocation as described in Note 19 - Business Acquisition, of the Notes to the Consolidated Financial Statements and recorded $0.3 million of reacquired franchise rights as an intangible asset and simultaneously disposed of $0.3 million of reacquired franchise rights related to the sale of the nine restaurants. Additions and impairment of other intangibles for the years ended December 31, 2024, 2023, and 2022 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)

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
2029	0.7	0.2	0.0	$	0.9

Gross and net carrying amounts of intangible assets subject to amortization and the respective weighted average amortization period at December 31, 2024 and 2023 are as follows:


	December 31, 2024							December 31, 2023
	Gross		Accumulated Amortization		Net		Weighted Average Remaining Period	Gross		Accumulated Amortization		Net		Weighted Average Remaining Period
	(In millions)							(In millions)
Franchising rights	$	214.8	$	(172.5)	$	42.3	7.6	$	214.8	$	(161.8)	$	53.0	7.9

Favorable leaseholds	3.4		(0.6)		2.8		10.1	$	3.4	$	(0.5)	2.9		11.1
Other	0.5		(0.1)		0.4		13.0	0.5		0.0		0.5		14.0
Total	$	218.7	$	(173.2)	$	45.5	7.8	$	218.7	$	(162.3)	$	56.4	8.1

In the fourth quarter of fiscal 2024, the Company performed a qualitative assessment of the Applebee's tradename and a quantitative assessment of the Fuzzy's tradename and franchise rights and concluded the fair value exceeded the carrying amounts. In the fourth quarter of fiscal 2023, the Company performed a quantitative assessment of the Applebee's tradename and a qualitative assessment of the Fuzzy's tradename and franchise rights and concluded the fair value exceeded the carrying amounts.