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Segments (Tables)

9 Months Ended

Sep. 30, 2025

Segment Reporting [Abstract]

Schedule of Segment Reporting Information by Segment

Information on segments and a reconciliation of operating profit to income before income taxes is as follows:

			Three Months Ended September 30, 2025
			Franchise						Company Restaurants						Rental						Financing						Total
			(In millions)
Revenues			$	161.3					$	27.5					$	27.0					$	0.3					$	216.2
Less: Advertising revenue			68.2						—						—						—						68.2
Revenues excluding advertising revenue			93.1						27.5						27.0						0.3						147.9
Less:
Interest expense from finance leases			—						—						0.7						—						0.7
Depreciation and amortization			0.1						0.9						2.4						—						3.4
Other segment items(a)			10.1						31.2						18.0						0.1						59.3
Segment profit (loss)			82.9						(4.5)						5.9						0.2						84.6
Stock based compensation (direct)			0.8						—						—						—						0.8
Gain on disposition of assets			0.0						—						—						—						0.0
Other G&A expenses (direct and allocated)			31.3						1.9						—						—						33.1
Segment operating profit (loss)			$	50.9					$	(6.4)					$	5.9					$	0.2					$	50.6
Reconciliation of segment operating profit
Segment operating profit																											$	50.6
Depreciation and amortization (unallocated)																											4.2
Stock based compensation (unallocated)																											2.3
Other G&A expenses (unallocated)																											9.7
Interest expense, net																											20.8
Closure and impairment charges																											0.6
Amortization of intangible assets																											2.9
Loss on extinguishment of debt																											—
Income before income taxes																											$	10.1

    

			Nine Months Ended September 30, 2025
			Franchise						Company Restaurants						Rental						Financing						Total
			(In millions)
Revenues			$	502.3					$	77.3					$	81.2					$	0.9					$	661.7
Less: Advertising revenue			212.2						—						—						—						212.2
Revenues excluding advertising revenue			290.0						77.3						81.2						0.9						449.5
Less:
Interest expense from finance leases			—						—						2.1						—						2.1
Depreciation and amortization			0.4						2.2						7.3						—						9.9
Other segment items(a)			33.4						82.8						54.1						0.2						170.4
Segment profit			256.2						(7.6)						17.8						0.8						267.1
Stock based compensation (direct)			2.8						—						—						—						2.8
Gain on disposition of assets			(0.1)						—						—						—						(0.1)
Other G&A expenses (direct and allocated)			94.5						5.2						—						—						99.6
Segment operating profit (loss)			$	159.0					$	(12.8)					$	17.8					$	0.8					$	164.7
Reconciliation of segment operating profit
Segment operating profit																											$	164.7
Depreciation and amortization (unallocated)																											13.1
Stock based compensation (unallocated)																											6.9
Other G&A expenses (unallocated)																											29.8
Interest expense, net																											56.3
Closure and impairment charges																											7.6
Amortization of intangible assets																											8.3
Loss on extinguishment of debt																											0.9
Income before income taxes																											$	41.8

			Three Months Ended September 30, 2024
			Franchise						Company Restaurants						Rental						Financing						Total
			(In millions)
Revenues			$	166.4					$	0.3					$	28.0					$	0.4					$	195.0
Less: Advertising revenue			69.8						—						—						—						69.8
Revenues excluding advertising revenue			96.6						0.3						28.0						0.4						125.2
Less:
Interest expense from finance leases			—						—						0.7						—						0.7
Depreciation and amortization			0.1						0.0						2.5						—						2.6
Other segment items(a)			9.8						0.3						18.4						0.1						28.6
Segment profit			86.6						0.0						6.4						0.3						93.3
Stock based compensation (direct)			1.6						—						—						—						1.6
Loss on disposition of assets			0.0						—						—						—						0.0
Other G&A expenses (direct and allocated)			28.3						0.0						—						—						28.3
Segment operating profit			$	56.8					$	0.0					$	6.4					$	0.3					$	63.5
Reconciliation of segment operating profit
Segment operating profit																											$	63.5
Depreciation and amortization (unallocated)																											4.3
Stock based compensation (unallocated)																											2.3
Other G&A expenses (unallocated)																											9.0
Interest expense, net																											18.4
Closure and impairment charges																											0.4
Amortization of intangible assets																											2.7
Loss on extinguishment of debt																											—
Income before income taxes																											$	26.5

			Nine Months Ended September 30, 2024
			Franchise						Company Restaurants						Rental						Financing						Total
			(In millions)
Revenues			$	518.7					$	0.8					$	86.5					$	1.4					$	607.5
Less: Advertising revenue			219.6						—						—						—						219.6
Revenues excluding advertising revenue			299.2						0.8						86.5						1.4						388.0
Less:
Interest expense from finance leases			—						—						2.2						—						2.2
Depreciation and amortization			0.3						0.1						7.7						—						8.1
Other segment items(a)			31.3						0.8						55.3						0.2						87.6
Segment profit			267.6						(0.1)						21.3						1.2						290.0
Stock based compensation (direct)			4.8						—						—						—						4.8
Gain on disposition of assets			(0.1)						—						—						—						(0.1)
Other G&A expenses (direct and allocated)			88.3						0.0						—						—						88.3
Segment operating profit			$	174.5					$	(0.1)					$	21.3					$	1.2					$	196.9
Reconciliation of segment operating profit
Segment operating profit																											$	196.9
Depreciation and amortization (unallocated)																											12.8
Stock based compensation (unallocated)																											7.8
Other G&A expenses (unallocated)																											30.7
Interest expense, net																											54.3
Closure and impairment charges																											1.4
Amortization of intangible assets																											8.2
Loss on extinguishment of debt																											—
Income before income taxes																											$	81.7

(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-owned 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.

X

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-25

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

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X

- References

No definition available.

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