XML 31 R5.htm IDEA: XBRL DOCUMENT v3.25.0.1
Consolidated Statements of Comprehensive Income - USD ($)
shares in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Revenues:      
Rental revenues $ 115,286 $ 119,970 $ 116,491
Total revenues 812,306 831,068 909,402
Cost of revenues:      
Franchise expenses 339,856 344,403 321,908
Bad debt expense 701 2,659 261
Company restaurant expenses 9,920 2,136 121,722
Interest expense from finance leases 2,904 2,771 2,962
Other rental expenses 84,008 84,705 85,033
Total rental expenses 86,912 87,476 87,995
Financing expenses 309 369 419
Total cost of revenues 436,997 434,384 532,044
Gross profit 375,309 396,684 377,358
General and administrative expenses 196,702 198,057 190,746
Interest expense, net 72,142 70,047 60,952
Closure and impairment charges 9,240 3,594 3,062
Amortization of intangible assets 10,832 10,923 10,559
Loss (gain) on extinguishment of debt 0 10 (210)
(Gain) loss on disposition of assets (3,150) 2,350 (2,536)
Income before income taxes 89,543 111,703 114,785
Income tax provision (24,653) (14,527) (33,674)
Net income 64,890 97,176 81,111
Other comprehensive income, net of tax:      
Foreign currency translation adjustment (12) 1 (6)
Total comprehensive income 64,878 97,177 81,105
Net income available to common stockholders:      
Net income 64,890 97,176 81,111
Less: Net income allocated to unvested participating restricted stock (1,915) (2,317) (2,174)
Net income available to common stockholders $ 62,975 $ 94,859 $ 78,937
Net income available to common stockholders per share:      
Basic (in dollars per share) $ 4.22 $ 6.23 $ 4.97
Diluted (in dollars per share) $ 4.22 $ 6.22 $ 4.96
Weighted average shares outstanding:      
Basic (in shares) 14,931 15,233 15,873
Diluted (in shares) 14,931 15,242 15,901
Franchise Revenues      
Revenues:      
Revenue from contract with customer $ 685,960 $ 706,365 $ 662,438
Royalties, franchise fees and other      
Revenues:      
Revenue from contract with customer 395,524 405,569 373,110
Advertising revenues      
Revenues:      
Revenue from contract with customer 290,436 300,796 289,328
Company restaurant sales      
Revenues:      
Revenue from contract with customer 9,262 2,128 126,869
Financing revenues      
Revenues:      
Financing revenues 1,798 2,605 3,604
Advertising expenses      
Revenues:      
Revenue from contract with customer 290,400 300,800 289,300
Cost of revenues:      
Franchise expenses 295,263 300,962 287,063
Other franchise expenses      
Cost of revenues:      
Franchise expenses $ 43,892 $ 40,782 $ 34,584