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Shareholders' Equity
 12 Months Ended
Dec. 31, 2014
Stockholders' Equity Attributable to Parent [Abstract]  
Shareholders' Equity
Shareholders' Equity

Share Repurchases

Our credit facility permits the payment of cash dividends and the purchase of Denny’s stock subject to certain limitations. Over the past several years, our Board of Directors has approved share repurchase programs authorizing us to repurchase up to a set amount of shares of our Common Stock. Under the programs, we may, from time to time, purchase shares in the open market (including pre-arranged stock trading plans in accordance with guidelines specified in Rule 10b5-1 under the Securities Exchange Act of 1934) or in privately negotiated transactions, subject to market and business conditions.

During 2013 and 2012, the Board approved share repurchase programs for 10.0 million and 6.0 million, respectively. During 2014, 2013 and 2012, we repurchased 5.3 million, 4.2 million and 4.8 million shares for a total of $36.0 million, $24.7 million and $22.2 million, respectively, thus completing the 2012 repurchase program. As of December 31, 2014, there are 3.9 million shares remaining to be repurchased under the 2013 repurchase program.

Repurchased shares are included as treasury stock in the Consolidated Balance Sheets and the Consolidated Statements of Shareholders' Equity.

Accumulated Other Comprehensive Loss

The components of the change in accumulated other comprehensive loss were as follows:

 
Pensions
 
Derivatives
 
Accumulated Other Comprehensive Loss
 
(In thousands)
Balance as of December 28, 2011
$
(24,813
)
 
$
—

 
$
(24,813
)
Benefit obligation actuarial loss
(4,802
)
 
—

 
(4,802
)
Net gain
2,610

 
—

 
2,610

Amortization of net loss
1,815

 
—

 
1,815

Income tax benefit
191

 
—

 
191

Balance as of December 26, 2012
$
(24,999
)
 
$
—

 
$
(24,999
)
Benefit obligation actuarial gain
7,873

 
—

 
7,873

Net gain
876

 
—

 
876

Amortization of net loss
1,724

 
—

 
1,724

Net change in fair value of derivatives
—

 
3,032

 
3,032

Income tax expense
(4,164
)
 
(1,184
)
 
(5,348
)
Balance as of December 25, 2013
$
(18,690
)
 
$
1,848

 
$
(16,842
)
Benefit obligation actuarial loss
(12,611
)
 
—

 
(12,611
)
Net gain
1,248

 
—

 
1,248

Amortization of net loss
990

 
—

 
990

Settlement loss recognized
50

 
—

 
50

Net change in fair value of derivatives
—

 
(2,389
)
 
(2,389
)
Income tax benefit
4,019

 
933

 
4,952

Balance as of December 31, 2014
$
(24,994
)
 
$
392

 
$
(24,602
)


During the years ended December 31, 2014, December 25, 2013 and December 26, 2012, before-tax amortization of net losses of $1.0 million, $1.7 million and $1.8 million, respectively, were reclassified from accumulated other comprehensive loss and included as a component of pension expense within general and administrative expenses in our Consolidated Statements of Income. The tax effect of the reclassifications was expense of $0.4 million, $0.7 million and $0.7 million, respectively. See Note 11 for additional details.