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Shareholders' Deficit | 3 Months Ended
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Mar. 25, 2020
Stockholders' Equity Attributable to Parent [Abstract] |
Shareholders' Deficit | Shareholders' Deficit Share Repurchase Our credit facility permits the purchase of Denny’s stock and the payment of cash dividends subject to certain limitations. During the quarter ended March 25, 2020, we completed the $200 million share repurchase program that was approved by the Board of Directors in October 2017. In December 2019, our Board of Directors approved a share repurchase program authorizing us to repurchase up to $250 million of our common stock (in addition to prior authorizations). Under this program, we may, from time to time, purchase shares in the open market (including pre-arranged stock trading plans in accordance with the guidelines specified in Rule 10b5-1 under the Securities Exchange Act of 1934, as amended) or in privately negotiated transactions, subject to market and business conditions. In November 2018, as part of our previously authorized share repurchase programs, we entered into a $25 million accelerated share repurchase (the "ASR") agreement with MUFG Securities EMEA plc (“MUFG”). We paid $25 million in cash and received approximately 1.1 million shares of our common stock (which represents the minimum shares to be delivered based on the cap price) and recorded $18.2 million of treasury stock related to these shares. The remaining balance of $6.8 million was recorded as additional paid-in capital in shareholders’ deficit as of December 26, 2018 as an equity forward contract. During the quarter ended March 27, 2019, we settled the ASR agreement with MUFG. As a result, we received final delivery of an additional 0.4 million shares of our common stock. The total number of shares repurchased was based on a combined discounted volume-weighted average price (“VWAP”) of $17.04 per share, which was determined based on the average of the daily VWAP of our common stock, less a fixed discount, over the term of the ASR agreement. As a result of settling the ASR agreement, we recorded $6.8 million of treasury stock related to the settlement of the equity forward contract related to the ASR agreement. During the quarter ended March 25, 2020, we repurchased a total of 1.7 million shares of our common stock for approximately $34.2 million. At March 25, 2020, there was approximately $248.0 million remaining that can be used to repurchase our common stock under the current program. Repurchased shares are included as treasury stock in our Condensed Consolidated Balance Sheets and our Condensed Consolidated Statement of Shareholders' Deficit. The Company suspended share repurchases as of February 27, 2020, and terminated its previously approved Rule 10b5-1 Repurchase Plan effective March 16, 2020, in light of uncertain market conditions arising from the COVID-19 pandemic. Under our Amended Credit Agreement, we are prohibited until the date of delivery of our financial statements for the fiscal quarter ending June 30, 2021, from making any stock repurchases. Accumulated Other Comprehensive Loss The components of the change in accumulated other comprehensive loss were as follows:
| Defined Benefit Plans |  | Derivatives |  | Accumulated Other Comprehensive Loss
| (In thousands)
Balance as of December 25, 2019 | $ | (781 | ) |  | $ | (33,179 | ) |  | $ | (33,960 | )
Amortization of net loss (1) | 23 |  |  | — |  |  | 23 |
Net change in fair value of derivatives | — |  |  | (44,723 | ) |  | (44,723 | )
Reclassification of derivatives to interest expense, net (2) | — |  |  | 325 |  |  | 325 |
Income tax (expense) benefit related to items of other comprehensive loss | (6 | ) |  | 11,709 |  |  | 11,703 |
Balance as of March 25, 2020 | $ | (764 | ) |  | $ | (65,868 | ) |  | $ | (66,632 | )
(1) | Before-tax amount related to our defined benefit plans that was reclassified from accumulated other comprehensive loss and included as a component of pension expense within general and administrative expenses in our Condensed Consolidated Statements of Income during the quarter ended March 25, 2020.
(2) Amounts reclassified from accumulated other comprehensive loss into income represent payments either received from or made to the counterparty for the interest rate swaps. These amounts are included as a component of interest expense, net in our Condensed Consolidated Statements of Income. See Note 7 for additional details.

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- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 + Details
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