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Segment Reporting
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Segment Reporting Segment Reporting
The chief executive officer is the Company's chief operating decision maker ("CODM"). The CODM uses each segments' revenue and operating profit to assess its performance.
The CODM uses revenue and operating profit for each segment primarily in the annual budget and forecasting process, and in the quarterly budget-to-actual analysis when making decisions about the allocation of operating and capital resources to each segment. The CODM also uses operating profit to assess the performance of each segment by comparing the results of each segment with one another and in determining the compensation of certain employees. The CODM does not consider asset information when evaluating operating segments, therefore total segment assets are not presented.
Information on segments and a reconciliation of operating profit to income before income taxes is as follows:
Year Ended December 31, 2024
FranchiseCompany RestaurantsRentalFinancingTotal
(In millions)
Revenues$686.0 $9.3 $115.3 $1.8 $812.3 
Less: Advertising revenue290.4———290.4
Revenues excluding advertising revenue395.5 9.3 115.3 1.8 521.9 
Less:
Interest expense from finance leases——2.9—2.9
Depreciation and amortization1.4(0.6)10.1—11.0
Other segment items(a)
48.010.573.90.3132.7
Segment profit346.1 (0.6)28.4 1.5 375.3 
Stock based compensation (direct)5.7———5.7
Gain on disposition of assets—(2.2)(1.0)—(3.2)
Other G&A expenses (direct and allocated)119.3———119.3
Segment operating profit$221.0 $1.6 $29.4 $1.5 $253.5 
Reconciliation of segment operating profit
Segment operating profit$253.5 
Depreciation and amortization (unallocated)17.4
Stock based compensation (unallocated)10.2
Other G&A expenses (unallocated)44.2
Interest expense, net72.1
Closure and impairment charges9.3
Amortization of intangible assets10.8
Income before income taxes$89.5 
Year Ended December 31, 2023
FranchiseCompany RestaurantsRentalFinancingTotal
(In millions)
Revenues$706.4 $2.1 $120.0 $2.6 $831.1 
Less: Advertising revenue300.8———300.8
Revenues excluding advertising revenue405.6 2.1 120.0 2.6 530.3 
Less:
Interest expense from finance leases——2.8—2.8
Depreciation and amortization1.1(0.2)10.5—11.4
Other segment items(a)
42.52.474.20.4119.4
Segment profit362.0 0.0 32.5 2.2 396.7 
Stock based compensation (direct)2.5———2.5
Loss on disposition of assets—0.20.3—0.6
Other G&A expenses (direct and allocated)126.9———126.9
Segment operating profit$232.5 $(0.2)$32.2 $2.2 $266.7 
Reconciliation of segment operating profit
Segment operating profit$266.7 
Depreciation and amortization (unallocated)13.3
Stock based compensation (unallocated)9.5
Other G&A expenses (unallocated)45.8
Loss on disposition of assets (unallocated)1.8
Interest expense, net70.1
Closure and impairment charges3.6
Amortization of intangible assets10.9
Income before income taxes$111.7 
Year Ended December 31, 2022
FranchiseCompany RestaurantsRentalFinancingTotal
(In millions)
Revenues$662.4 $126.9 $116.5 $3.6 $909.4 
Less: Advertising revenue289.3———289.3
Revenues excluding advertising revenue373.1 126.9 116.5 3.6 620.1 
Less:
Interest expense from finance leases——3.0—3.0
Depreciation and amortization4.80.010.7—15.5
Other segment items(a)
27.9121.774.30.4224.3
Segment profit340.5 5.2 28.5 3.2 377.3 
Stock based compensation (direct)6.0———6.0
Gain on disposition of assets—0.0(2.5)—(2.5)
Other G&A expenses (direct and allocated)113.5———113.5
Segment operating profit$221.0 $5.2 $31.0 $3.2 $260.3 
Reconciliation of segment operating profit
Segment operating profit$260.3 
Depreciation and amortization (unallocated)11.9
Stock based compensation (unallocated)10.1
Other G&A expenses (unallocated)49.1
Interest expense, net60.9
Closure and impairment charges3.1
Amortization of intangible assets10.6
Gain on extinguishment of debt(0.2)
Income before income taxes$114.8 
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(a)For each reportable segment, the other segment item category includes:
Franchise: Costs of proprietary products, bad debt expense, pre-opening training expenses and other franchise-related costs.
Company Restaurants: Operating expenses at company-operated restaurants and include food, beverage, labor, benefits, utilities, rent and other operating costs.
Rental: Costs of operating leases and interest expense of finance leases on franchisee-operated restaurants.
Financing: Costs of restaurant equipment.