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Other Intangible Assets
12 Months Ended
Dec. 31, 2022
Intangible Assets, Net (Excluding Goodwill) [Abstract]  
Other Intangible Assets Other Intangible Assets
The significant majority of the Company's other intangible assets arose from the November 29, 2007 acquisition of Applebee's. Changes in the carrying amounts for the years ended December 31, 2022, 2021 and 2020 are as follows:
 Not Subject to AmortizationSubject to Amortization 
 TradenamesOtherFranchising
Rights
Reacquired Franchise RightsFavorable LeaseholdsTotal
 (In millions)
Balance at December 31, 2019$479.0 $3.2 $79.0 $9.8 $4.1 $575.1 
Impairment(11.0)— — (3.3)(0.8)(15.1)
Amortization expense— — (10.0)(0.8)(0.1)(10.9)
Additions— 0.6 — — — 0.5 
Balance at December 31, 2020468.0 3.8 69.0 5.7 3.2 549.7 
Amortization expense— — (10.0)(0.6)(0.1)(10.7)
Additions— 0.4 — — — 0.4 
Balance at December 31, 2021468.0 4.2 59.0 5.1 3.1 539.4 
Amortization expense— — (10.0)(0.4)(0.1)(10.6)
Additions57.2 0.8 14.8 — — 72.8 
Disposition— — — (4.7)— (4.7)
Balance at December 31, 2022
$525.2 $5.0 $63.8 $— $3.0 $597.0 
In December 2022, the Company acquired Fuzzy's and recorded $57.2 million of tradename, $14.8 million of franchising rights and $0.5 million of recipes as intangible assets. Additions of other intangibles for the years ended December 31, 2022, 2021 and 2020 are individually insignificant. In October 2022, the $4.7 million disposition of assets was related to the refranchising and sale of the restaurant assets of 69 Applebee's company-operated restaurants.
Impairments in 2020
As discussed in Note 6 - Goodwill, the Company determined that indicators of impairment existed prior to the annual test for impairment and performed an interim quantitative test for impairment of Applebee's tradename and reacquired franchise rights in the second quarter of 2020. In performing the impairment test of the tradename, the Company used the relief of royalty method under the income approach method of valuation. Significant assumptions used to determine fair value under the relief of royalty method include future trends in sales, a royalty rate and a discount rate applied to the forecast revenue stream. As a result of performing the quantitative test of impairment, the Company recognized an impairment of $11.0 million to Applebee's tradename. The majority of the impairment was due to an increase in the assessed risk premium incorporated into the discount rate assumption. In addition, the Company determined that the carrying amounts of reacquired franchise rights and favorable leaseholds exceeded the estimated fair value by $3.3 million and $0.8 million, respectively, and recorded impairments to those intangible assets.
Annual amortization expense for the next five fiscal years is estimated to be approximately $14.4 million per year.
Gross and net carrying amounts of intangible assets subject to amortization at December 31, 2022 and 2021 are as follows:
 December 31, 2022December 31, 2021
 GrossAccumulated
Amortization
NetGrossAccumulated
Amortization
Net
 (In millions)
Franchising rights$214.8 $(151.0)$63.8 $200.0 $(141.0)$59.0 
Reacquired franchise rights— — — 8.3 (3.2)5.1 
Favorable leaseholds3.4 (0.4)3.0 $3.4 $(0.3)3.1 
Total$218.2 $(151.4)$66.8 $211.7 $(144.5)$67.2 
In the fourth quarter of fiscal 2022 and 2021, the Company performed a qualitative assessment of the Applebee's tradename and concluded the fair value exceeded the carrying amount.