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EXHIBIT 11.0

IHOP CORP. AND SUBSIDIARIES
STATEMENT REGARDING COMPUTATION OF PER SHARE EARNINGS
(In thousands, except per share data)
(Unaudited)

		Three Months Ended September 30,				Nine Months Ended September 30,
		2003		2002		2003		2002
NET INCOME PER COMMON SHARE BASIC
	Weighted average shares outstanding		21,497		20,958		21,443		20,878
	Net income available to common shareholders	$	11,044	$	9,838	$	27,979	$	28,894
	Net income per share—basic	$	0.51	$	0.47	$	1.30	$	1.38
NET INCOME PER COMMON SHARE DILUTED
	Weighted average shares outstanding		21,497		20,958		21,443		20,878
Net effect of dilutive stock options based on the treasury stock method using the average market price			224		277		180		370
Total		$	21,721	$	21,235		21,623		21,248
	Net income available to common shareholders	$	11,044	$	9,838	$	27,979	$	28,894
	Net income per share-diluted	$	0.51	$	0.46	$	1.29	$	1.36

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IHOP CORP. AND SUBSIDIARIES STATEMENT REGARDING COMPUTATION OF PER SHARE EARNINGS (In thousands, except per share data) (Unaudited)