Consolidating Financial Information

Certain of our subsidiaries have guaranteed our obligations under the Credit Facility. The following presents the condensed consolidating financial information separately for: (i) the parent Company, the issuer of the guaranteed obligations; (ii) the guarantor subsidiaries, on a combined basis, as specified in the Credit Agreement; (iii) the non-guarantor subsidiaries, on a combined basis; (iv) consolidating eliminations and reclassifications; and (v) DineEquity, Inc. and Subsidiaries, on a consolidated basis.

Each guarantor subsidiary is 100% owned by the Company at the date of each balance sheet presented. The notes are fully and unconditionally guaranteed on a joint and several basis by each guarantor subsidiary. Each entity in the consolidating financial information follows the same accounting policies as described in the consolidated financial statements.

Supplemental Condensed Consolidating Balance Sheet

March 31, 2012

(In millions)



	Parent			Combined Guarantor Subsidiaries		Combined Non-guarantor Subsidiaries			Eliminations and Reclassification			Consolidated
Assets
Current Assets
Cash and cash equivalents	$	7.7		$	40.2	$	0.8		$	—		$	48.7
Receivables, net	0.7			87.9		0.1			(8.0		)	80.7
Inventories	—			11.5		—			—			11.5
Prepaid expenses and other current assets	99.4			46.6		—			(98.6		)	47.4
Deferred income taxes	1.6			21.0		0.3			—			22.9
Assets held for sale	—			2.2		1.8			—			4.0
Intercompany	(265.3		)	260.1		5.2			—			—
Total current assets	(155.9		)	469.5		8.2			(106.6		)	215.2
Long-term receivables	—			224.3		—			—			224.3
Property and equipment, net	24.4			438.0		—			—			462.4
Goodwill	—			697.5		—			—			697.5
Other intangible assets, net	—			818.8		—			—			818.8
Other assets, net	21.7			94.6		—			—			116.3
Investment in subsidiaries	1,697.5			—		—			(1,697.5		)	—
Total assets	$	1,587.7		$	2,742.7	$	8.2		$	(1,804.1	)	$	2,534.5
Liabilities and Stockholders’ Equity
Current Liabilities
Current maturities of long-term debt	$	15.4		$	—	$	—		$	(8.0	)	$	7.4
Accounts payable	1.3			31.6		—			—			32.9
Accrued employee compensation and benefits	3.4			14.2		—			—			17.6
Gift card liability	—			92.2		—			—			92.2
Income taxes payable	(11.8		)	120.4		0.2			(98.6		)	10.2
Other accrued expenses	33.6			35.8		—			—			69.4
Total current liabilities	41.9			294.2		0.2			(106.6		)	229.7
Long-term debt	1,338.0			—		—			—			1,338.0
Financing obligations	—			152.6		—			—			152.6
Capital lease obligations	—			131.9		—			—			131.9
Deferred income taxes	6.4			370.3		(0.3		)	—			376.4
Other liabilities	5.6			103.7		0.9			—			110.2
Total liabilities	1,391.9			1,052.7		0.8			(106.6		)	2,338.8
Total stockholders’ equity	195.8			1,690.0		7.4			(1,697.5		)	195.7
Total liabilities and stockholders’ equity	$	1,587.7		$	2,742.7	$	8.2		$	(1,804.1	)	$	2,534.5

Supplemental Condensed Consolidating Balance Sheet

December 31, 2011

(In millions)



	Parent			Combined Guarantor Subsidiaries		Combined Non-guarantor Subsidiaries			Eliminations and Reclassification			Consolidated
Assets
Current Assets
Cash and cash equivalents	$	9.9		$	50.4	$	0.4		$	—		$	60.7
Receivables, net	0.6			121.0		0.1			(6.0		)	115.7
Inventories	—			12.0		—			—			12.0
Prepaid expenses and other current assets	85.3			44.6		—			(71.3		)	58.6
Deferred income taxes	1.5			19.0		0.1			—			20.6
Assets held for sale	—			7.3		2.1			—			9.4
Intercompany	(300.2		)	294.5		5.7			—			—
Total current assets	(202.9		)	548.8		8.4			(77.3		)	276.9
Long-term receivables	—			226.5		—			—			226.5
Property and equipment, net	24.6			449.5		—			—			474.2
Goodwill	—			697.5		—			—			697.5
Other intangible assets, net	—			822.4		—			—			822.4
Other assets, net	23.2			93.5		0.1			—			116.8
Investment in subsidiaries	1,697.6			—		—			(1,697.6		)	—
Total assets	$	1,542.5		$	2,838.2	$	8.5		$	(1,774.9	)	$	2,614.3
Liabilities and Stockholders’ Equity
Current Liabilities
Current maturities of long-term debt	$	13.4		$	—	$	—		$	(6.0	)	$	7.4
Accounts payable	2.8			26.2		—			—			29.0
Accrued employee compensation and benefits	6.7			19.5		—			—			26.2
Gift card liability	—			147.0		—			—			147.0
Other accrued expenses	(61.6		)	180.6		0.4			(71.3		)	48.1
Total current liabilities	(38.6		)	373.3		0.4			(77.3		)	257.6
Long-term debt	1,411.4			—		—			—			1,411.4
Financing obligations	—			162.7		—			—			162.7
Capital lease obligations	—			134.4		—			—			134.4
Deferred income taxes	8.9			375.3		(0.4		)	—			383.8
Other liabilities	5.4			102.6		1.1			—			109.1
Total liabilities	1,387.0			1,148.3		1.1			(77.3		)	2,459.1
Total stockholders’ equity	155.5			1,689.9		7.4			(1,697.6		)	155.2
Total liabilities and stockholders’ equity	$	1,542.5		$	2,838.2	$	8.5		$	(1,774.9	)	$	2,614.3

Supplemental Condensed Consolidating Statement of Operations

For the Three Months Ended March 31, 2012

(In millions)



	Parent			Combined Guarantor Subsidiaries			Combined Non-guarantor Subsidiaries			Eliminations and Reclassification			Consolidated
Revenues
Franchise revenues	$	0.6		$	107.5		$	0.3		$	—		$	108.4
Restaurant sales	—			100.9			—			—			100.9
Rental revenues	—			32.0			—			—			32.0
Financing revenues	—			4.3			—			—			4.3
Total revenue	0.6			244.7			0.3			—			245.6
Franchise expenses	0.6			27.0			—			—			27.6
Restaurant expenses	—			84.2			—			—			84.2
Rental expenses	—			24.5			—			—			24.5
Financing expenses	—			0.7			—			—			0.7
General and administrative	7.1			32.1			0.5			—			39.7
Interest expense	27.4			2.8			—			—			30.2
Amortization of intangible assets	—			3.1			—			—			3.1
Impairment and closure	—			0.4			0.3			—			0.7
Gain on disposition of assets	—			(16.4		)	(0.3		)				(16.7		)
Loss on extinguishment of debt	2.6			—			—			—			2.6
Intercompany dividend	(54.1		)	—			—			54.1			—
Income (loss) before income taxes	17.0			86.3			(0.2		)	(54.1		)	49.0
Benefit (provision) for income taxes	14.3			(32.0		)	—			—			(17.7		)
Net (loss) income	$	31.3		$	54.3		$	(0.2	)	$	(54.1	)	$	31.3
Total comprehensive income	$	31.3		$	54.5		$	(0.2	)	$	(54.1	)	$	31.5

Supplemental Condensed Consolidating Statement of Operations

For the Three Months Ended March 31, 2011

(In millions)



	Parent			Combined Guarantor Subsidiaries			Combined Non-guarantor Subsidiaries			Eliminations and Reclassification			Consolidated
Revenues
Franchise revenues	$	0.7		$	103.6		$	0.3		$	—		$	104.6
Restaurant sales	—			154.3			0.4			—			154.7
Rental revenues	—			32.2			—			—			32.2
Financing revenues	—			8.7			—			—			8.7
Total revenue	0.7			298.8			0.7			—			300.2
Franchise expenses	0.5			27.0			—			—			27.5
Restaurant expenses	—			131.5			0.3			—			131.8
Rental expenses	—			24.6			—			—			24.6
Financing expenses	—			5.6			—			—			5.5
General and administrative	7.5			29.9			0.6			—			38.0
Interest expense	32.3			4.0			—			—			36.3
Amortization of intangible assets	—			3.1			—			—			3.1
Impairment and closure	—			4.9			—			—			4.9
Gain on disposition of assets	—			(23.7		)	(0.1		)				(23.8		)
Loss on extinguishment of debt	6.9			—			—			—			6.9
Debt modification costs	4.1			—			—			—			4.1
Other (income) expense	—			(23.4		)	(0.4		)	23.7			—
Intercompany dividend	(16.1		)	—			—			16.1			—
Income (loss) before income taxes	(34.6		)	115.3			0.3			(39.8		)	41.2
Benefit (provision) for income taxes	19.7			(31.0		)	(0.1		)				(11.4		)
Net (loss) income	$	(15.0	)	$	84.3		$	0.2		$	(39.8	)	$	29.7
Total comprehensive income	$	(15.0	)	$	84.3		$	0.2		$	(39.8	)	$	29.7

Supplemental Condensed Consolidating Statement of Cash Flows

For the Three Months Ended March 31, 2012

(In millions)



	Parent			Combined Guarantor Subsidiaries			Combined Non-guarantor Subsidiaries			Eliminations and Reclassification	Consolidated
Cash flows provided by (used in) operating activities	$	(15.0	)	$	59.8		$	(0.1	)	—	$	44.7
Investing cash flows
Additions to property and equipment	(1.3		)	(2.8		)	—				(4.1		)
Principal receipts from long-term receivables	—			3.4			—			—	3.4
Proceeds from sale of assets	—			21.4			—			—	21.4
Other	—			0.7			—			—	0.7
Cash flows provided by (used in) investing activities	(1.3		)	22.7			—			—	21.4
Financing cash flows
Payment of debt	(76.0		)	(3.0		)	—			—	(79.0		)
Restricted cash	—			(2.6		)	—			—	(2.6		)
Other	3.1			0.4			—			—	3.5
Intercompany transfers	87.0			(87.5		)	0.5			—	—
Cash flows provided by (used in) financing activities	14.1			(92.7		)	0.5			—	(78.1		)
Net change	(2.2		)	(10.2		)	0.4			—	(12.0		)
Beginning cash and equivalents	9.9			50.4			0.4			—	60.7
Ending cash and equivalents	$	7.7		$	40.2		$	0.8		—	$	48.7

Supplemental Condensed Consolidating Statement of Cash Flows

For the Three Months Ended March 31, 2011

(In millions)



	Parent			Combined Guarantor Subsidiaries			Combined Non-guarantor Subsidiaries			Eliminations and Reclassification	Consolidated
Cash flows provided by (used in) operating activities	$	(26.3	)	$	76.3		$	0.5		—	$	50.5
Investing cash flows
Additions to property and equipment	(1.3		)	(2.5		)	—			—	(3.8		)
Principal receipts from long-term receivables	—			3.4			—			—	3.4
Proceeds from sale of assets	—			54.6			—			—	54.6
Other	—			(0.2		)	—			—	(0.2		)
Cash flows provided by (used in) investing activities	(1.3		)	55.3			—			—	54.0
Financing cash flows
Payment of debt	(145.3		)	(3.5		)	—			—	(148.8		)
Payment of debt issuance costs	(12.2		)	—			—			—	(12.2		)
Restricted cash	—			(2.4		)	—			—	(2.4		)
Other	6.2			0.8			—			—	7.0
Intercompany transfers	169.6			(169.3		)	(0.3		)	—	—
Cash flows provided by (used in) financing activities	18.3			(174.4		)	(0.3		)	—	(156.4		)
Net change	(9.3		)	(42.8		)	0.2			—	(51.9		)
Beginning cash and equivalents	23.4			77.3			1.6			—	102.3
Ending cash and equivalents	$	14.1		$	34.5		$	1.8		—	$	50.4