Denny's (DENN) 10-Q 30 Apr 24 2024 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 27, 2024	Apr. 25, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 27, 2024
Document Transition Report	false
Entity File Number	0-18051
Entity Registrant Name	DENNY’S CORPORATION
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	13-3487402
Entity Address, Address Line One	203 East Main Street
Entity Address, City or Town	Spartanburg,
Entity Address, State or Province	SC
Entity Address, Postal Zip Code	29319-0001
City Area Code	864
Local Phone Number	597-8000
Title of 12(b) Security	$.01 Par Value, Common Stock
Trading Symbol	DENN
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		52,018,583
Entity Central Index Key	0000852772
Current Fiscal Year End Date	--12-25
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1
Amendment Flag	false

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 27, 2024	Dec. 27, 2023
Current assets:
Cash and cash equivalents	$ 1,164	$ 4,893
Investments	2,787	1,281
Receivables, net	17,288	21,391
Inventories	2,073	2,175
Assets held for sale	1,060	1,455
Prepaid and other current assets	9,646	12,855
Total current assets	34,018	44,050
Property, net of accumulated depreciation of $161,735 and $159,879, respectively	94,985	93,494
Finance lease right-of-use assets, net of accumulated amortization of $7,393 and $8,220, respectively	5,785	6,098
Operating lease right-of-use assets, net	114,912	116,795
Goodwill	65,908	65,908
Intangible assets, net	93,046	93,428
Deferred financing costs, net	1,543	1,702
Other noncurrent assets	50,214	43,343
Total assets	460,411	464,818
Current liabilities:
Current finance lease liabilities	1,363	1,383
Current operating lease liabilities	15,547	14,779
Accounts payable	15,076	24,070
Other current liabilities	56,986	63,068
Total current liabilities	88,972	103,300
Long-term liabilities:
Long-term debt	261,200	255,500
Noncurrent finance lease liabilities	8,845	9,150
Noncurrent operating lease liabilities	111,553	114,451
Liability for insurance claims, less current portion	7,550	6,929
Deferred income taxes, net	7,864	6,582
Other noncurrent liabilities	30,171	31,592
Total long-term liabilities	427,183	424,204
Total liabilities	516,155	527,504
Shareholders' deficit
Common stock $0.01 par value; 135,000 shares authorized; March 27, 2024: 53,262 shares issued and 52,119 outstanding; December 27, 2023: 52,906 shares issued and 52,239 shares outstanding	533	529
Paid-in capital	7,534	6,688
Deficit	(17,093)	(21,784)
Accumulated other comprehensive loss, net	(35,495)	(41,659)
Treasury stock, at cost, 1,143 and 667 shares, respectively	(11,223)	(6,460)
Total shareholders' deficit	(55,744)	(62,686)
Total liabilities and shareholders' deficit	$ 460,411	$ 464,818

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 27, 2024	Dec. 27, 2023
Assets
Accumulated depreciation	$ 161,735	$ 159,879
Accumulated amortization	$ 7,393	$ 8,220
Shareholders' deficit
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	135,000,000	135,000,000
Common stock, shares issued (in shares)	53,262,000	52,906,000
Common stock, shares outstanding (in shares)	52,119,000	52,239,000
Treasury stock, at cost (in shares)	1,143,000	667,000

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 27, 2024	Mar. 29, 2023
Revenue:
Total operating revenue	$ 109,974	$ 117,471
Costs of company restaurant sales, excluding depreciation and amortization:
Product costs	13,311	14,039
Payroll and benefits	20,474	20,240
Occupancy	4,573	4,094
Other operating expenses	9,760	8,119
Total costs of company restaurant sales, excluding depreciation and amortization	48,118	46,492
Costs of franchise and license revenue, excluding depreciation and amortization	27,374	32,387
General and administrative expenses	21,222	20,118
Depreciation and amortization	3,581	3,656
Operating (gains), losses and other charges, net	(327)	(1,329)
Total operating costs and expenses, net	99,968	101,324
Operating income	10,006	16,147
Interest expense, net	4,420	4,505
Other nonoperating (income) expense, net	(637)	10,093
Income before income taxes	6,223	1,549
Provision for income taxes	1,532	952
Net income	$ 4,691	$ 597
Net income per share - basic (in dollars per share)	$ 0.09	$ 0.01
Net income per share - diluted (in dollars per share)	$ 0.09	$ 0.01
Basic weighted average shares outstanding (in shares)	53,068	57,638
Diluted weighted average shares outstanding (in shares)	53,214	57,840
Company restaurant sales
Revenue:
Total operating revenue	$ 52,342	$ 53,452
Franchise and license revenue
Revenue:
Total operating revenue	$ 57,632	$ 64,019

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 27, 2024	Mar. 29, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 4,691	$ 597
Other comprehensive income (loss), net of tax:
Minimum pension liability adjustment, net of tax of $6 and $22, respectively	10	67
Changes in the fair value of cash flow hedges, net of tax of $2,423 and $321, respectively	7,175	942
Reclassification of cash flow hedges to interest expense, net of tax of $(381) and $(236), respectively	(1,127)	(694)
Amortization of unrealized losses related to interest rate swaps to interest expense, net of tax of $36 and $14, respectively	106	42
Other comprehensive income	6,164	357
Total comprehensive income	$ 10,855	$ 954

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 27, 2024	Mar. 29, 2023
Statement of Comprehensive Income [Abstract]
Tax effect of minimum pension liability adjustment	$ 6	$ 22
Changes in fair value of cash flow derivatives, tax	2,423	321
Reclassification of cash flow derivatives to interest expense, tax	(381)	(236)
Reclassification of unrealized losses related to derivatives to interest expense, tax	$ 36	$ 14

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Deficit - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Treasury Stock	Paid-in Capital	Deficit	Accumulated Other Comprehensive Loss, Net
Balance as of beginning of period (in shares) at Dec. 28, 2022		64,998
Balance as of beginning of period at Dec. 28, 2022	$ (37,116)	$ 650	$ (95,476)	$ 142,136	$ (41,729)	$ (42,697)
Balance as of beginning of period, treasury stock (in shares) at Dec. 28, 2022			(8,270)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	597				597
Other comprehensive income	357					357
Share-based compensation on equity classified awards, net of withholding tax	127			127
Purchase of treasury stock, including excise tax (in shares)			(806)
Purchase of treasury stock, including excise tax	(8,967)		$ (8,967)
Issuance of common stock for share-based compensation (in shares)		470
Issuance of common stock for share-based compensation	0	$ 5		(5)
Balance as of end of period (in shares) at Mar. 29, 2023		65,468
Balance as of end of period at Mar. 29, 2023	$ (45,002)	$ 655	$ (104,443)	142,258	(41,132)	(42,340)
Balance as of end of period, treasury stock (in shares) at Mar. 29, 2023			(9,076)
Balance as of beginning of period (in shares) at Dec. 27, 2023	52,906	52,906
Balance as of beginning of period at Dec. 27, 2023	$ (62,686)	$ 529	$ (6,460)	6,688	(21,784)	(41,659)
Balance as of beginning of period, treasury stock (in shares) at Dec. 27, 2023	(667)		(667)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 4,691				4,691
Other comprehensive income	6,164					6,164
Share-based compensation on equity classified awards, net of withholding tax	$ 850			850
Purchase of treasury stock, including excise tax (in shares)	(500)		(476)
Purchase of treasury stock, including excise tax	$ (4,763)		$ (4,763)
Issuance of common stock for share-based compensation (in shares)		356
Issuance of common stock for share-based compensation	$ 0	$ 4		(4)
Balance as of end of period (in shares) at Mar. 27, 2024	53,262	53,262
Balance as of end of period at Mar. 27, 2024	$ (55,744)	$ 533	$ (11,223)	$ 7,534	$ (17,093)	$ (35,495)
Balance as of end of period, treasury stock (in shares) at Mar. 27, 2024	(1,143)		(1,143)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 27, 2024	Mar. 29, 2023
Cash flows from operating activities:
Net income	$ 4,691	$ 597
Adjustments to reconcile net income to cash flows provided by operating activities:
Depreciation and amortization	3,581	3,656
Operating (gains), losses and other charges, net	(327)	(1,329)
Losses and amortization on interest rate swaps, net	141	10,662
Amortization of deferred financing costs	159	159
Gains on investments	(6)	(5)
Losses on early termination of debt and leases	123	0
Deferred income tax (benefit) expense	(768)	133
Decrease of tax valuation allowance	(26)	0
Share-based compensation expense	2,776	3,094
Changes in assets and liabilities, excluding acquisitions and dispositions:
Receivables	4,011	1,814
Inventories	102	2,284
Prepaids and other current assets	3,208	2,652
Other noncurrent assets	860	1,119
Operating lease assets and liabilities	(164)	(246)
Accounts payable	(11,037)	(1,131)
Other accrued liabilities	(6,408)	(6,534)
Other noncurrent liabilities	(701)	(772)
Net cash flows provided by operating activities	215	16,153
Cash flows from investing activities:
Capital expenditures	(4,905)	(1,304)
Proceeds from sales of real estate and other assets	986	1,715
Investment purchases	(1,500)	(1,300)
Collections on notes receivable	171	320
Issuance of notes receivable	(79)	0
Net cash flows used in investing activities	(5,327)	(569)
Cash flows from financing activities:
Revolver borrowings	52,200	35,000
Revolver payments	(46,500)	(32,500)
Repayments of finance leases	(370)	(506)
Tax withholding on share-based payments	(1,872)	(2,846)
Purchase of treasury stock	(4,774)	(9,041)
Net bank overdrafts	2,699	(319)
Net cash flows provided by (used in) financing activities	1,383	(10,212)
(Decrease) increase in cash and cash equivalents	(3,729)	5,372
Cash and cash equivalents at beginning of period	4,893	3,523
Cash and cash equivalents at end of period	$ 1,164	$ 8,895

Introduction and Basis of Prese

Introduction and Basis of Presentation	3 Months Ended
	Mar. 27, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Introduction and Basis of Presentation	Introduction and Basis of Presentation Denny’s Corporation, or the Company, is one of America’s largest full-service restaurant chains based on number of restaurants. As of March 27, 2024, the Company consisted of 1,614 restaurants, 1,539 of which were franchised/licensed restaurants and 75 of which were company operated. The Company consists of the Denny’s brand ("Denny's") and the Keke’s Breakfast Café brand (“Keke’s”). As of March 27, 2024, the Denny's brand consisted of 1,553 restaurants, 1,489 of which were franchised/licensed restaurants and 64 of which were company operated. At March 27, 2024, the Keke's brand consisted of 61 restaurants, 50 of which were franchised restaurants and 11 of which were company operated. Our unaudited consolidated financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission for interim financial information. Therefore, certain information and notes normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) have been omitted. In our opinion, all adjustments considered necessary for a fair presentation of the interim periods presented have been included. Such adjustments are of a normal and recurring nature. The preparation of these financial statements requires us to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues and expenses, and related disclosure of contingent assets and liabilities. Actual results may differ from these estimates under different assumptions or conditions; however, we believe that our estimates are reasonable. These interim consolidated financial statements should be read in conjunction with our consolidated financial statements and notes thereto as of and for the fiscal year ended December 27, 2023 which are contained in our audited Annual Report on Form 10-K for the fiscal year ended December 27, 2023. The results of operations for the interim periods presented are not necessarily indicative of the results for the entire fiscal year ending December 25, 2024. Our significant interim accounting policies include the recognition of advertising and marketing costs, generally in proportion to revenue, and the recognition of income taxes using an estimated annual effective rate.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 27, 2024
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Newly Adopted Accounting Standards In March 2020, the FASB issued ASU 2020-04, “Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting” which was later clarified in January 2021 by ASU 2021-01, “Reference Rate Reform (Topic 848): Scope”. Additionally, in December 2022, the FASB issued ASU 2022-06, “Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848”, which allows ASU 2020-04 to be adopted and applied prospectively to contract modifications made on or before December 31, 2024. The guidance provides optional guidance, for a limited time, to ease the potential burden in accounting for or recognizing the effects of reference rate reform on financial reporting. The Company adopted ASU 2020-04 on March 12, 2020. The adoption of and future elections under this new guidance did not and are not expected to have a material impact on the Company’s consolidated financial position or results of operations. The guidance is effective through December 31, 2024. Accounting Standards to be Adopted In November 2023, the FASB issued ASU 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures”. The new guidance requires enhanced reportable segment disclosures to include significant segment expenses. ASU 2023-07 is effective for annual periods beginning after December 15, 2023 (our fiscal 2024) and interim periods beginning after December 15, 2024 (our fiscal 2025). We are currently evaluating the impact that the adoption of this new guidance will have on our Consolidated Financial Statements and will add necessary disclosures upon adoption. In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures”. The new guidance requires enhanced effective tax rate reconciliation and income taxes paid disclosures. ASU 2023-09 is effective for annual periods beginning after December 15, 2024 (our fiscal 2025). We are currently evaluating the impact that the adoption of this new guidance will have on our Consolidated Financial Statements and will add necessary disclosures upon adoption. We reviewed all other newly issued accounting pronouncements and concluded that they are either not applicable to our business or are not expected to have a material effect on our consolidated financial statements as a result of future adoption.

Receivables

Receivables	3 Months Ended
	Mar. 27, 2024
Receivables [Abstract]
Receivables	Receivables Receivables consisted of the following: March 27, 2024 December 27, 2023 (In thousands) Receivables, net: Trade accounts receivable from franchisees $ 12,181 $ 14,092 Notes and loan receivables from franchisees 340 584 Vendor receivables 2,154 4,059 Credit card receivables 784 995 Other 2,134 1,862 Allowance for credit losses (305) (201) Total receivables, net $ 17,288 $ 21,391

Goodwill and Intangible Assets

Goodwill and Intangible Assets	3 Months Ended
	Mar. 27, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Goodwill and Intangible Assets Goodwill by segment consisted of the following: March 27, 2024 December 27, 2023 (In thousands) Denny’s $ 37,527 $ 37,527 Other 28,381 28,381 Total goodwill $ 65,908 $ 65,908 Intangible assets consisted of the following: March 27, 2024 December 27, 2023 Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization (In thousands) Intangible assets with indefinite lives: Trade names $ 79,687 $ — $ 79,687 $ — Liquor licenses 120 — 120 — Intangible assets with definite lives: Reacquired franchise rights 9,470 5,820 9,470 5,614 Franchise agreements 10,700 1,111 10,700 935 Intangible assets, net $ 99,977 $ 6,931 $ 99,977 $ 6,549 Amortization expense for intangible assets with definite lives totaled $0.4 million for each of the quarters ended March 27, 2024 and March 29, 2023.

Other Current Liabilities

Other Current Liabilities	3 Months Ended
	Mar. 27, 2024
Other Liabilities, Current [Abstract]
Other Current Liabilities	Other Current Liabilities Other current liabilities consisted of the following: March 27, 2024 December 27, 2023 (In thousands) Accrued payroll $ 11,896 $ 16,400 Current portion of liability for insurance claims 3,977 3,758 Accrued taxes 4,062 4,699 Accrued advertising 9,827 10,664 Gift cards 6,398 7,838 Accrued legal settlements 8,436 7,488 Accrued interest 4,714 4,530 Other 7,676 7,691 Other current liabilities $ 56,986 $ 63,068

Fair Value of Financial Instrum

Fair Value of Financial Instruments	3 Months Ended
	Mar. 27, 2024
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Fair Value of Financial Instruments Financial assets and liabilities measured at fair value on a recurring basis are summarized below: Total Quoted Prices in Active Markets for Identical Assets/Liabilities Significant Other Observable Inputs Significant Unobservable Inputs (In thousands ) Fair value measurements as of March 27, 2024: Deferred compensation plan investments (1) $ 11,378 $ 11,378 $ — $ — Interest rate swaps (2) 16,978 — 16,978 — Investments (3) 2,787 — 2,787 — Total $ 31,143 $ 11,378 $ 19,765 $ — Fair value measurements as of December 27, 2023: Deferred compensation plan investments (1) $ 12,225 $ 12,225 $ — $ — Interest rate swaps (2) 8,888 — 8,888 — Investments (3) 1,281 — 1,281 — Total $ 22,394 $ 12,225 $ 10,169 $ — (1) The fair values of our deferred compensation plan investments are based on the closing market prices of the elected investments and are included in other noncurrent assets in our Consolidated Balance Sheets. (2) The fair values of our interest rate swaps are based upon Level 2 inputs, which include valuation models. The key inputs for the valuation models are quoted market prices, interest rates, forward yield curves and credit risk adjustments that are necessary to reflect the probability of default by the counterparty or us. For disclosures about the fair value measurements of our derivative instruments, see Note 7. (3) The fair values of our investments are valued using a readily determinable net asset value per share based on the fair value of the underlying securities. There are no significant redemption restrictions associated with these investments. Those assets and liabilities measured at fair value on a non-recurring basis are summarized below: Significant Unobservable Inputs Impairment Charges (In thousands) Fair value measurements as of March 27, 2024: Assets held and used (1) $ — $ 95 (1) As of March 27, 2024, impaired assets were written down to their fair value. To determine fair value, we used the income approach, which assumes that the future cash flows reflect current market expectations. These fair value measurements require significant judgment using Level 3 inputs, such as discounted cash flows from operations, which are not observable from the market, directly or indirectly. There is uncertainty in the projected future cash flows used in the Company's impairment analysis, which requires the use of estimates and assumptions. If actual performance does not achieve the projections, or if the assumptions used change in the future, the Company may be required to recognize impairment charges in future periods. Assets that are measured at fair value on a non-recurring basis include property, operating lease right-of-use assets, finance lease right-of-use assets, goodwill and intangible assets. During the quarter ended March 27, 2024, we recognized impairment charges of $0.1 million related to certain of these assets. See Note 9.

Long-Term Debt

Long-Term Debt	3 Months Ended
	Mar. 27, 2024
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt The Company and certain of its subsidiaries have a credit facility consisting of a five-year $400 million senior secured revolver (with a $25 million letter of credit sublimit). The credit facility includes an accordion feature that would allow us to increase the size of the facility to $450 million. Borrowings bear a tiered interest rate, which is based on the Company's consolidated leverage ratio. The maturity date for the credit facility is August 26, 2026. The credit facility is available for working capital, capital expenditures and other general corporate purposes. The credit facility is guaranteed by the Company and its material subsidiaries and is secured by assets of the Company and its subsidiaries, including the stock of its subsidiaries (other than its insurance captive subsidiary). It includes negative covenants that are usual for facilities and transactions of this type. The credit facility also includes certain financial covenants with respect to a maximum consolidated leverage ratio and a minimum consolidated fixed charge coverage ratio. We were in compliance with all financial covenants as of March 27, 2024. As of March 27, 2024, we had outstanding revolver loans of $261.2 million and outstanding letters of credit under the credit facility of $17.0 million. These balances resulted in unused commitments of $121.8 million as of March 27, 2024 under the credit facility. As of March 27, 2024, borrowings under the credit facility bore interest at a rate of Adjusted Daily Simple SOFR plus 2.25%. Letters of credit under the credit facility bore interest at a rate of 2.38%. The commitment fee, paid on the unused portion of the credit facility, was set to 0.35%. Prior to considering the impact of our interest rate swaps, described below, the weighted-average interest rate on outstanding revolver loans was 7.69% and 7.41% as of March 27, 2024 and December 27, 2023, respectively. Taking into consideration our interest rate swaps that are designated as cash flow hedges, the weighted-average interest rate of outstanding revolver loans was 5.30% and 5.04% as of March 27, 2024 and December 27, 2023, respectively. Interest Rate Hedges We have receive-variable, pay-fixed interest rate swaps to hedge the forecasted cash flows of our floating rate debt. A summary of our interest rate swaps as of March 27, 2024 is as follows: Trade Date Effective Date Maturity Date Notional Amount Fair Value Fixed Rate (In thousands) Swaps designated as cash flow hedges March 20, 2015 March 29, 2018 March 31, 2025 $ 120,000 $ 3,040 2.34 % October 1, 2015 March 29, 2018 March 31, 2026 $ 50,000 $ 1,980 2.37 % February 15, 2018 March 31, 2020 December 31, 2033 $ 44,000 (1) $ 11,958 3.09 % Total $ 214,000 $ 16,978 (1) The notional amounts of the swaps entered into on February 15, 2018 increase periodically until they reach the maximum notional amount of $335 million on August 31, 2033. Termination and Designation of Certain Interest Rate Swaps During the quarter ended March 29, 2023, we terminated a portion of our hedging relationship entered into in 2018 (“2018 Swaps”), reducing the previous maximum notional amount of $425 million on August 31, 2033 to $335 million. We received $1.5 million of cash as a result of the termination which is recorded as a component of operating activities in our Consolidated Statement of Cash Flows for the quarter ended March 29, 2023. In addition, during the quarter ended March 29, 2023, we designated the remaining 2018 Swaps as cash flow hedges of our exposure to variability in future cash flows attributable to variable rate interest payments due on forecasted notional amounts. Changes in Fair Value of Interest Rate Swaps To the extent the swaps are highly effective in offsetting the variability of the hedged cash flows, changes in the fair value of the swaps are not included in the Consolidated Statements of Income but are reported as a component of other comprehensive income (loss). Our interest rate swaps are designated as cash flow hedges with unrealized gains and losses recorded as a component of accumulated other comprehensive loss, net. As of March 27, 2024, the fair value of the swaps designated as cash flow hedges was an asset of $17.0 million, recorded as a component of other noncurrent assets. The designated swaps have an offsetting amount (before taxes) recorded as a component of accumulated other comprehensive loss, net in our Consolidated Balance Sheets. See Note 13 for amounts recorded in accumulated other comprehensive loss related to interest rate swaps. For the quarter ended March 27, 2024, we reclassified $1.5 million from accumulated other comprehensive loss, net as a reduction to interest expense, net. We expect to reclassify $6.2 million from accumulated other comprehensive loss, net as a reduction to interest expense, net in our Consolidated Statements of Income related to swaps designated as cash flow hedges during the next 12 months. For the periods prior to their designation as cash flow hedges, changes in the fair value of the 2018 Swaps were recorded as a component of other nonoperating (income) expense, net in our Consolidated Statements of Income. For the quarter ended March 29, 2023, we recorded expense of $10.6 million as a component of other nonoperating (income) expense, net related to the 2018 Swaps resulting from changes in fair value. Amortization of Certain Amounts Included in Accumulated Other Comprehensive Loss, Net At March 27, 2024, we had a total of $64.0 million (before taxes) included in accumulated other comprehensive loss, net related to (i) the discontinuance of hedge accounting treatment related to certain cash flow hedges in prior years and (ii) the fair value of certain swaps at the date of designation as cash flow hedges that are being amortized into our Consolidated Statements of Income as a component of interest expense, net over the remaining term of the related swap.

Revenues

Revenues	3 Months Ended
	Mar. 27, 2024
Revenue from Contract with Customer [Abstract]
Revenues	Revenues The following table disaggregates our revenue by sales channel and type of good or service: Quarter Ended March 27, 2024 March 29, 2023 (In thousands) Company restaurant sales $ 52,342 $ 53,452 Franchise and license revenue: Royalties 29,306 30,027 Advertising revenue 18,138 19,668 Initial and other fees 1,816 4,990 Occupancy revenue 8,372 9,334 Franchise and license revenue 57,632 64,019 Total operating revenue $ 109,974 $ 117,471 Franchise occupancy revenue consisted of the following: Quarter Ended March 27, 2024 March 29, 2023 (In thousands) Operating lease revenue $ 6,128 $ 6,871 Variable lease revenue 2,244 2,463 Total occupancy revenue $ 8,372 $ 9,334 Balances related to contracts with customers consist of receivables, contract assets, deferred franchise revenue and deferred gift card revenue. See Note 3 for details on our receivables. Deferred franchise revenue consists primarily of the unamortized portion of initial franchise fees that are currently being amortized into revenue and amounts related to development agreements and unopened restaurants that will begin amortizing into revenue when the related restaurants are opened. Deferred franchise revenue represents our remaining performance obligations to our franchisees, excluding amounts of variable consideration related to sales-based royalties and advertising. The components of the change in deferred franchise revenue are as follows: (In thousands) Balance, December 27, 2023 $ 19,150 Fees received from franchisees 220 Revenue recognized (1) (779) Balance, March 27, 2024 18,591 Less current portion included in other current liabilities 2,132 Deferred franchise revenue included in other noncurrent liabilities $ 16,459 (1) Of this amount $0.7 million was included in the deferred franchise revenue balance as of December 27, 2023. We record contract assets related to incentives and subsidies provided to franchisees related to new unit openings and/or equipment upgrades. These amounts will be recognized as a component of franchise and license revenue over the remaining term of the related franchise agreements. The components of the change in contract assets are as follows: (In thousands) Balance, December 27, 2023 $ 6,608 Franchisee deferred costs 27 Contract asset amortization (347) Balance, March 27, 2024 6,288 Less current portion included in other current assets 1,005 Contract assets included in other noncurrent assets $ 5,283 The Company purchases equipment related to various programs for franchise restaurants, including kitchen and point-of-sale system equipment. We bill our franchisees and recognize revenue when the related equipment is installed, less amounts contributed from the Company, which have been deferred as contract assets in the table above. We recognized $0.3 million of revenue, recorded as a component of initial and other fees, related to the sale of equipment to franchisees during the quarter ended March 27, 2024. We recognized $2.4 million of revenue, recorded as a component of initial and other fees, related to the sale of equipment to franchisees during the quarter ended March 29, 2023. As of March 27, 2024, we had $0.5 million in inventory and $0.1 million in receivables related to the purchased equipment. As of December 27, 2023, we had $0.6 million in inventory and $0.3 million in receivables related to the purchased equipment. As of March 27, 2024, deferred franchise revenue, net of contract asset amortization, expected to be recognized in the future is as follows: (In thousands) Remainder of 2024 $ 859 2025 1,131 2026 1,131 2027 1,100 2028 973 Thereafter 7,109 Deferred franchise revenue, net $ 12,303 Deferred gift card liabilities consist of the unredeemed portion of gift cards sold in company restaurants and at third party locations. The balance of deferred gift card liabilities represents our remaining performance obligations to our customers. The balance of deferred gift card liabilities as of March 27, 2024 and December 27, 2023 was $6.4 million and $7.8 million, respectively. During the quarter ended March 27, 2024, we recognized revenue of $0.2 million from gift card redemptions at company restaurants.

Operating (Gains), Losses and O

Operating (Gains), Losses and Other Charges, Net	3 Months Ended
	Mar. 27, 2024
Other Income and Expenses [Abstract]
Operating (Gains), Losses and Other Charges, Net	Operating (Gains), Losses and Other Charges, Net Operating (gains), losses and other charges, net consisted of the following: Quarter Ended March 27, 2024 March 29, 2023 (In thousands) Gains on sales of assets and other, net $ (620) $ (1,522) Restructuring charges and exit costs 198 64 Impairment charges 95 129 Operating (gains), losses and other charges, net $ (327) $ (1,329) During the quarters ended March 27, 2024 and March 29, 2023, gains on sales of assets and other, net were primarily related to the sales of real estate. As of March 27, 2024, we had recorded assets held for sale at the lesser of the carrying value or fair value amount of $1.1 million (consisting of property of $0.6 million and goodwill of $0.5 million) related to three Keke's restaurants. As of December 27, 2023, we had recorded assets held for sale at their carrying amount of $1.5 million (consisting of property of $0.9 million, goodwill of $0.5 million and other assets of $0.1 million) related to one parcel of real estate and three Keke's restaurants. Restructuring charges and exit costs consisted of the following: Quarter Ended March 27, 2024 March 29, 2023 (In thousands) Exit costs $ 42 $ — Severance and other restructuring charges 156 64 Total restructuring charges and exit costs $ 198 $ 64 Exit costs primarily consist of costs related to closed restaurants. Exit cost liabilities related to lease costs are included as a component of operating lease liabilities in our Consolidated Balance Sheets. As of March 27, 2024 and December 27, 2023, we had accrued severance and other restructuring charges of $1.0 million and $1.4 million, respectively. The balance as of March 27, 2024 is expected to be paid during the next 12 months. We recorded impairment charges of $0.1 million related to property for the quarter ended March 27, 2024, resulting from our assessment of closed units.

Share-Based Compensation

Share-Based Compensation	3 Months Ended
	Mar. 27, 2024
Share-Based Payment Arrangement [Abstract]
Share-Based Compensation	Share-Based Compensation Total share-based compensation included as a component of general and administrative expenses was as follows: Quarter Ended March 27, 2024 March 29, 2023 (In thousands) Employee share awards $ 2,571 $ 2,847 Restricted stock units for board members 205 247 Total share-based compensation $ 2,776 $ 3,094 Employee Share Awards During the quarter ended March 27, 2024, we granted certain employees 0.6 million performance share units ("PSUs") with a weighted average grant date fair value of $15.48 per share that vest based on the total shareholder return (“TSR”) of our common stock compared to the TSRs of a group of peer companies. As the TSR based PSUs contain a market condition, a Monte Carlo valuation was used to determine the grant date fair value. The performance period for these PSUs is the three-year fiscal period beginning December 28, 2023 and ending December 30, 2026. The PSUs will vest and be earned at the end of the performance period at which point the relative TSR achievement percentages will be applied to the vested units (from 0% to 200% of the target award). During the quarter ended March 27, 2024, we also granted certain employees 0.7 million restricted stock units ("RSUs") with a weighted average grant date fair value of $10.81 per share. These RSUs generally vest evenly over the three-year fiscal period beginning December 28, 2023 and ending December 30, 2026. We recognize compensation cost associated with these RSU awards on a straight-line basis over the entire performance period of the award. During the quarter ended March 27, 2024, we issued 0.4 million shares of common stock related to vested PSUs and RSUs. In addition, 0.2 million shares of common stock were withheld in lieu of taxes related to vested PSUs and RSUs. As of March 27, 2024, we had $24.0 million of unrecognized compensation cost related to unvested PSU awards and RSU awards outstanding, which have a weighted average remaining contractual term of 2.4 years. Restricted Stock Units for Board Members

Income Taxes

Income Taxes	3 Months Ended
	Mar. 27, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The effective income tax rate was 24.6% for the quarter ended March 27, 2024, compared to 61.5% for the prior year period. The effective income tax rate for the quarter ended March 29, 2023 included discrete items relating to share-based compensation of 36.6%. We did not have a similar discrete item for the quarter ended March 27, 2024.

Net Income Per Share

Net Income Per Share	3 Months Ended
	Mar. 27, 2024
Earnings Per Share [Abstract]
Net Income Per Share	Net Income Per Share The amounts used for the basic and diluted net income per share calculations are summarized below: Quarter Ended March 27, 2024 March 29, 2023 (In thousands, except per share amounts) Net income $ 4,691 $ 597 Weighted average shares outstanding - basic 53,068 57,638 Effect of dilutive share-based compensation awards 146 202 Weighted average shares outstanding - diluted 53,214 57,840 Net income per share - basic $ 0.09 $ 0.01 Net income per share - diluted $ 0.09 $ 0.01 Anti-dilutive share-based compensation awards 970 807

Shareholders' Deficit

Shareholders' Deficit	3 Months Ended
	Mar. 27, 2024
Equity [Abstract]
Shareholders' Deficit	Shareholders' Deficit Share Repurchases Our credit facility permits the repurchase of the Company's stock and the payment of cash dividends subject to certain limitations. Our Board of Directors approves share repurchases of our common stock. Under these authorizations, 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. Currently, we are operating under a $250 million share repurchase authorization approved by the Board of Directors in December 2019. During the quarter ended March 27, 2024, we repurchased a total of 0.5 million shares of our common stock for $4.8 million, including excise taxes. This brings the total amount repurchased under the current authorization to $154.3 million, leaving $95.7 million that can be used to repurchase our common stock under this authorization as of March 27, 2024. Repurchased shares are included as treasury stock in our Consolidated Balance Sheets and our Consolidated Statements of Shareholders' Deficit. In the fourth quarter of fiscal 2023, the Board approved the retirement of 12.8 million shares of treasury stock at a weighted average share price of $11.02, including excise taxes. As of March 27, 2024, 1.1 million shares were held in treasury stock. Accumulated Other Comprehensive Loss, Net The components of the change in accumulated other comprehensive loss, net were as follows: Defined Benefit Plans Derivatives Accumulated Other Comprehensive Loss, Net (In thousands) Balance as of December 27, 2023 $ (337) $ (41,322) $ (41,659) Amortization of net loss (1) 16 — 16 Changes in the fair value of cash flow hedges — 9,598 9,598 Reclassification of cash flow hedges to interest expense, net (2) — (1,508) (1,508) Amortization of unrealized losses related to interest rate swaps to interest expense, net — 142 142 Income tax expense related to items of other comprehensive income (loss) (6) (2,078) (2,084) Balance as of March 27, 2024 $ (327) $ (35,168) $ (35,495) (1) Before-tax amount related to our defined benefit plans that was reclassified from accumulated other comprehensive loss, net and included as a component of pension expense within general and administrative expenses in our Consolidated Statements of Income during the quarter ended March 27, 2024. (2) Amounts reclassified from accumulated other comprehensive loss, net into interest expense, net in our Consolidated Statements of Income represent payments either (received from) or made to the counterparty for the interest rate hedges. See Note 7 for additional details.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 27, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Legal Proceedings

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	3 Months Ended
	Mar. 27, 2024
Supplemental Cash Flow Information [Abstract]
Supplemental Cash Flow Information	Supplemental Cash Flow Information Quarter Ended March 27, 2024 March 29, 2023 (In thousands) Income taxes paid, net $ 355 $ 489 Interest paid $ 4,006 $ 4,253 Noncash investing and financing activities: Accrued purchase of property $ 100 $ — Issuance of common stock, pursuant to share-based compensation plans $ 3,793 $ 5,257 Execution of finance leases $ 42 $ 14 Treasury stock payable $ 552 $ 468

Segment Information

Segment Information	3 Months Ended
	Mar. 27, 2024
Segment Reporting [Abstract]
Segment Information	Segment Information We manage our business by brand and as a result have identified two operating segments, Denny’s and Keke’s. In addition, we have identified Denny’s as a reportable segment. The Denny’s reportable segment includes the results of all company and franchised and licensed Denny’s restaurants. Our Keke’s operating segment, which includes the results of all company and franchised Keke's restaurants, is included in Other. The primary sources of revenues for all operating segments are the sale of food and beverages at our company restaurants and the collection of royalties, advertising revenue, initial and other fees, including occupancy revenue, from restaurants operated by our franchisees. We do not rely on any major customer as a source of sales and the customers and assets of all operating segments are located predominantly in the United States. There are no material transactions between segments. Management’s measure of segment income is restaurant-level operating margin. The Company defines restaurant-level operating margin as operating income excluding the following three items: general and administrative expenses, depreciation and amortization, and operating (gains), losses and other charges, net. The Company excludes general and administrative expenses, which include primarily non restaurant-level costs associated with the support of company and franchised restaurants and other activities at their corporate office. The Company excludes depreciation and amortization expense, substantially all of which is related to company restaurant-level assets, because such expenses represent historical sunk costs which do not reflect current cash outlays for the restaurants. The Company excludes operating (gains), losses and other charges, net, to provide a clearer perspective of its ongoing operating performance. Restaurant-level operating margin is used by our chief operating decision maker (“CODM”) to evaluate restaurant-level operating efficiency and performance. The following tables present revenues by segment and a reconciliation of restaurant-level operating margin to net income: Quarter Ended March 27, 2024 March 29, 2023 Revenues by operating segment: (In thousands) Denny’s $ 104,011 $ 112,230 Other 5,963 5,241 Total operating revenue $ 109,974 $ 117,471 Segment income: Denny’s $ 33,660 $ 36,640 Other 822 1,952 Total restaurant-level operating margin $ 34,482 $ 38,592 General and administrative expenses $ 21,222 $ 20,118 Depreciation and amortization 3,581 3,656 Operating (gains), losses and other charges, net (327) (1,329) Total other operating expenses 24,476 22,445 Operating income 10,006 16,147 Interest expense, net 4,420 4,505 Other nonoperating expense (income), net (637) 10,093 Income before income taxes 6,223 1,549 Provision for income taxes 1,532 952 Net income $ 4,691 $ 597 March 27, 2024 December 27, 2023 Segment assets: (In thousands) Denny’s $ 336,143 $ 340,136 Other 124,268 124,682 Total assets $ 460,411 $ 464,818

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended
	Mar. 27, 2024	Mar. 29, 2023
Pay vs Performance Disclosure
Net income	$ 4,691	$ 597

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Mar. 27, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 27, 2024
Accounting Policies [Abstract]
Newly Adopted Accounting Standards and Accounting Standards to be Adopted	Newly Adopted Accounting Standards In March 2020, the FASB issued ASU 2020-04, “Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting” which was later clarified in January 2021 by ASU 2021-01, “Reference Rate Reform (Topic 848): Scope”. Additionally, in December 2022, the FASB issued ASU 2022-06, “Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848”, which allows ASU 2020-04 to be adopted and applied prospectively to contract modifications made on or before December 31, 2024. The guidance provides optional guidance, for a limited time, to ease the potential burden in accounting for or recognizing the effects of reference rate reform on financial reporting. The Company adopted ASU 2020-04 on March 12, 2020. The adoption of and future elections under this new guidance did not and are not expected to have a material impact on the Company’s consolidated financial position or results of operations. The guidance is effective through December 31, 2024. Accounting Standards to be Adopted In November 2023, the FASB issued ASU 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures”. The new guidance requires enhanced reportable segment disclosures to include significant segment expenses. ASU 2023-07 is effective for annual periods beginning after December 15, 2023 (our fiscal 2024) and interim periods beginning after December 15, 2024 (our fiscal 2025). We are currently evaluating the impact that the adoption of this new guidance will have on our Consolidated Financial Statements and will add necessary disclosures upon adoption. In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures”. The new guidance requires enhanced effective tax rate reconciliation and income taxes paid disclosures. ASU 2023-09 is effective for annual periods beginning after December 15, 2024 (our fiscal 2025). We are currently evaluating the impact that the adoption of this new guidance will have on our Consolidated Financial Statements and will add necessary disclosures upon adoption. We reviewed all other newly issued accounting pronouncements and concluded that they are either not applicable to our business or are not expected to have a material effect on our consolidated financial statements as a result of future adoption.

Receivables (Tables)

Receivables (Tables)	3 Months Ended
	Mar. 27, 2024
Receivables [Abstract]
Schedule of Receivables, Net	Receivables consisted of the following: March 27, 2024 December 27, 2023 (In thousands) Receivables, net: Trade accounts receivable from franchisees $ 12,181 $ 14,092 Notes and loan receivables from franchisees 340 584 Vendor receivables 2,154 4,059 Credit card receivables 784 995 Other 2,134 1,862 Allowance for credit losses (305) (201) Total receivables, net $ 17,288 $ 21,391

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	3 Months Ended
	Mar. 27, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill by Segment	Goodwill by segment consisted of the following: March 27, 2024 December 27, 2023 (In thousands) Denny’s $ 37,527 $ 37,527 Other 28,381 28,381 Total goodwill $ 65,908 $ 65,908
Schedule of Indefinite-Lived Intangible Assets	Intangible assets consisted of the following: March 27, 2024 December 27, 2023 Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization (In thousands) Intangible assets with indefinite lives: Trade names $ 79,687 $ — $ 79,687 $ — Liquor licenses 120 — 120 — Intangible assets with definite lives: Reacquired franchise rights 9,470 5,820 9,470 5,614 Franchise agreements 10,700 1,111 10,700 935 Intangible assets, net $ 99,977 $ 6,931 $ 99,977 $ 6,549
Schedule of Finite-Lived Intangible Assets	Intangible assets consisted of the following: March 27, 2024 December 27, 2023 Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization (In thousands) Intangible assets with indefinite lives: Trade names $ 79,687 $ — $ 79,687 $ — Liquor licenses 120 — 120 — Intangible assets with definite lives: Reacquired franchise rights 9,470 5,820 9,470 5,614 Franchise agreements 10,700 1,111 10,700 935 Intangible assets, net $ 99,977 $ 6,931 $ 99,977 $ 6,549

Other Current Liabilities (Tabl

Other Current Liabilities (Tables)	3 Months Ended
	Mar. 27, 2024
Other Liabilities, Current [Abstract]
Schedule of Other Current Liabilities	Other current liabilities consisted of the following: March 27, 2024 December 27, 2023 (In thousands) Accrued payroll $ 11,896 $ 16,400 Current portion of liability for insurance claims 3,977 3,758 Accrued taxes 4,062 4,699 Accrued advertising 9,827 10,664 Gift cards 6,398 7,838 Accrued legal settlements 8,436 7,488 Accrued interest 4,714 4,530 Other 7,676 7,691 Other current liabilities $ 56,986 $ 63,068

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	3 Months Ended
	Mar. 27, 2024
Fair Value Disclosures [Abstract]
Schedule of Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis	Financial assets and liabilities measured at fair value on a recurring basis are summarized below: Total Quoted Prices in Active Markets for Identical Assets/Liabilities Significant Other Observable Inputs Significant Unobservable Inputs (In thousands ) Fair value measurements as of March 27, 2024: Deferred compensation plan investments (1) $ 11,378 $ 11,378 $ — $ — Interest rate swaps (2) 16,978 — 16,978 — Investments (3) 2,787 — 2,787 — Total $ 31,143 $ 11,378 $ 19,765 $ — Fair value measurements as of December 27, 2023: Deferred compensation plan investments (1) $ 12,225 $ 12,225 $ — $ — Interest rate swaps (2) 8,888 — 8,888 — Investments (3) 1,281 — 1,281 — Total $ 22,394 $ 12,225 $ 10,169 $ — (1) The fair values of our deferred compensation plan investments are based on the closing market prices of the elected investments and are included in other noncurrent assets in our Consolidated Balance Sheets. (2) The fair values of our interest rate swaps are based upon Level 2 inputs, which include valuation models. The key inputs for the valuation models are quoted market prices, interest rates, forward yield curves and credit risk adjustments that are necessary to reflect the probability of default by the counterparty or us. For disclosures about the fair value measurements of our derivative instruments, see Note 7. (3) The fair values of our investments are valued using a readily determinable net asset value per share based on the fair value of the underlying securities. There are no significant redemption restrictions associated with these investments.
Schedule of Financial Assets and Liabilities Measured at Fair Value on a Non - Recurring Basis	Those assets and liabilities measured at fair value on a non-recurring basis are summarized below: Significant Unobservable Inputs Impairment Charges (In thousands) Fair value measurements as of March 27, 2024: Assets held and used (1) $ — $ 95 (1) As of March 27, 2024, impaired assets were written down to their fair value. To determine fair value, we used the income approach, which assumes that the future cash flows reflect current market expectations. These fair value measurements require significant judgment using Level 3 inputs, such as discounted cash flows from operations, which are not observable from the market, directly or indirectly. There is uncertainty in the projected future cash flows used in the Company's impairment analysis, which requires the use of estimates and assumptions. If actual performance does not achieve the projections, or if the assumptions used change in the future, the Company may be required to recognize impairment charges in future periods.

Long-Term Debt (Tables)

Long-Term Debt (Tables)	3 Months Ended
	Mar. 27, 2024
Debt Disclosure [Abstract]
Schedule of Interest Rate Swaps	A summary of our interest rate swaps as of March 27, 2024 is as follows: Trade Date Effective Date Maturity Date Notional Amount Fair Value Fixed Rate (In thousands) Swaps designated as cash flow hedges March 20, 2015 March 29, 2018 March 31, 2025 $ 120,000 $ 3,040 2.34 % October 1, 2015 March 29, 2018 March 31, 2026 $ 50,000 $ 1,980 2.37 % February 15, 2018 March 31, 2020 December 31, 2033 $ 44,000 (1) $ 11,958 3.09 % Total $ 214,000 $ 16,978 (1) The notional amounts of the swaps entered into on February 15, 2018 increase periodically until they reach the maximum notional amount of $335 million on August 31, 2033.

Revenues (Tables)

Revenues (Tables)	3 Months Ended
	Mar. 27, 2024
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue	The following table disaggregates our revenue by sales channel and type of good or service: Quarter Ended March 27, 2024 March 29, 2023 (In thousands) Company restaurant sales $ 52,342 $ 53,452 Franchise and license revenue: Royalties 29,306 30,027 Advertising revenue 18,138 19,668 Initial and other fees 1,816 4,990 Occupancy revenue 8,372 9,334 Franchise and license revenue 57,632 64,019 Total operating revenue $ 109,974 $ 117,471
Schedule of Components of Lease Income	Franchise occupancy revenue consisted of the following: Quarter Ended March 27, 2024 March 29, 2023 (In thousands) Operating lease revenue $ 6,128 $ 6,871 Variable lease revenue 2,244 2,463 Total occupancy revenue $ 8,372 $ 9,334
Schedule of Components of the Change in Contract Asset and Contract Liability	The components of the change in deferred franchise revenue are as follows: (In thousands) Balance, December 27, 2023 $ 19,150 Fees received from franchisees 220 Revenue recognized (1) (779) Balance, March 27, 2024 18,591 Less current portion included in other current liabilities 2,132 Deferred franchise revenue included in other noncurrent liabilities $ 16,459 (1) Of this amount $0.7 million was included in the deferred franchise revenue balance as of December 27, 2023. The components of the change in contract assets are as follows: (In thousands) Balance, December 27, 2023 $ 6,608 Franchisee deferred costs 27 Contract asset amortization (347) Balance, March 27, 2024 6,288 Less current portion included in other current assets 1,005 Contract assets included in other noncurrent assets $ 5,283
Schedule of Deferred Franchise Revenue Recognition	As of March 27, 2024, deferred franchise revenue, net of contract asset amortization, expected to be recognized in the future is as follows: (In thousands) Remainder of 2024 $ 859 2025 1,131 2026 1,131 2027 1,100 2028 973 Thereafter 7,109 Deferred franchise revenue, net $ 12,303

Operating (Gains), Losses and_2

Operating (Gains), Losses and Other Charges, Net (Tables)	3 Months Ended
	Mar. 27, 2024
Other Income and Expenses [Abstract]
Schedule of Operating Gains Losses and Other Charges, Net	Operating (gains), losses and other charges, net consisted of the following: Quarter Ended March 27, 2024 March 29, 2023 (In thousands) Gains on sales of assets and other, net $ (620) $ (1,522) Restructuring charges and exit costs 198 64 Impairment charges 95 129 Operating (gains), losses and other charges, net $ (327) $ (1,329)
Schedule of Restructuring Charges and Exit Costs	Restructuring charges and exit costs consisted of the following: Quarter Ended March 27, 2024 March 29, 2023 (In thousands) Exit costs $ 42 $ — Severance and other restructuring charges 156 64 Total restructuring charges and exit costs $ 198 $ 64

Share-Based Compensation (Table

Share-Based Compensation (Tables)	3 Months Ended
	Mar. 27, 2024
Share-Based Payment Arrangement [Abstract]
Schedule of Total Share-based Compensation	Total share-based compensation included as a component of general and administrative expenses was as follows: Quarter Ended March 27, 2024 March 29, 2023 (In thousands) Employee share awards $ 2,571 $ 2,847 Restricted stock units for board members 205 247 Total share-based compensation $ 2,776 $ 3,094

Net Income Per Share (Tables)

Net Income Per Share (Tables)	3 Months Ended
	Mar. 27, 2024
Earnings Per Share [Abstract]
Schedule of Basic and Diluted Net Income Per Share	The amounts used for the basic and diluted net income per share calculations are summarized below: Quarter Ended March 27, 2024 March 29, 2023 (In thousands, except per share amounts) Net income $ 4,691 $ 597 Weighted average shares outstanding - basic 53,068 57,638 Effect of dilutive share-based compensation awards 146 202 Weighted average shares outstanding - diluted 53,214 57,840 Net income per share - basic $ 0.09 $ 0.01 Net income per share - diluted $ 0.09 $ 0.01 Anti-dilutive share-based compensation awards 970 807

Shareholders' Deficit (Tables)

Shareholders' Deficit (Tables)	3 Months Ended
	Mar. 27, 2024
Equity [Abstract]
Schedule of Components of Accumulated Other Comprehensive Income (Loss)	The components of the change in accumulated other comprehensive loss, net were as follows: Defined Benefit Plans Derivatives Accumulated Other Comprehensive Loss, Net (In thousands) Balance as of December 27, 2023 $ (337) $ (41,322) $ (41,659) Amortization of net loss (1) 16 — 16 Changes in the fair value of cash flow hedges — 9,598 9,598 Reclassification of cash flow hedges to interest expense, net (2) — (1,508) (1,508) Amortization of unrealized losses related to interest rate swaps to interest expense, net — 142 142 Income tax expense related to items of other comprehensive income (loss) (6) (2,078) (2,084) Balance as of March 27, 2024 $ (327) $ (35,168) $ (35,495) (1) Before-tax amount related to our defined benefit plans that was reclassified from accumulated other comprehensive loss, net and included as a component of pension expense within general and administrative expenses in our Consolidated Statements of Income during the quarter ended March 27, 2024. (2) Amounts reclassified from accumulated other comprehensive loss, net into interest expense, net in our Consolidated Statements of Income represent payments either (received from) or made to the counterparty for the interest rate hedges. See Note 7 for additional details.

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Tables)	3 Months Ended
	Mar. 27, 2024
Supplemental Cash Flow Information [Abstract]
Schedule of Supplemental Cash Flow Information	Quarter Ended March 27, 2024 March 29, 2023 (In thousands) Income taxes paid, net $ 355 $ 489 Interest paid $ 4,006 $ 4,253 Noncash investing and financing activities: Accrued purchase of property $ 100 $ — Issuance of common stock, pursuant to share-based compensation plans $ 3,793 $ 5,257 Execution of finance leases $ 42 $ 14 Treasury stock payable $ 552 $ 468

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 27, 2024
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	The following tables present revenues by segment and a reconciliation of restaurant-level operating margin to net income: Quarter Ended March 27, 2024 March 29, 2023 Revenues by operating segment: (In thousands) Denny’s $ 104,011 $ 112,230 Other 5,963 5,241 Total operating revenue $ 109,974 $ 117,471 Segment income: Denny’s $ 33,660 $ 36,640 Other 822 1,952 Total restaurant-level operating margin $ 34,482 $ 38,592 General and administrative expenses $ 21,222 $ 20,118 Depreciation and amortization 3,581 3,656 Operating (gains), losses and other charges, net (327) (1,329) Total other operating expenses 24,476 22,445 Operating income 10,006 16,147 Interest expense, net 4,420 4,505 Other nonoperating expense (income), net (637) 10,093 Income before income taxes 6,223 1,549 Provision for income taxes 1,532 952 Net income $ 4,691 $ 597 March 27, 2024 December 27, 2023 Segment assets: (In thousands) Denny’s $ 336,143 $ 340,136 Other 124,268 124,682 Total assets $ 460,411 $ 464,818

Introduction and Basis of Pre_2

Introduction and Basis of Presentation (Details)	Mar. 27, 2024 restaurant
Franchisor Disclosure [Line Items]
Number of restaurants	1,614
Denny's Brand
Franchisor Disclosure [Line Items]
Number of restaurants	1,553
Keke's
Franchisor Disclosure [Line Items]
Number of restaurants	61
Franchised/licensed Restaurants
Franchisor Disclosure [Line Items]
Number of restaurants	1,539
Franchised/licensed Restaurants | Denny's Brand
Franchisor Disclosure [Line Items]
Number of restaurants	1,489
Franchised/licensed Restaurants | Keke's
Franchisor Disclosure [Line Items]
Number of restaurants	50
Company Restaurants
Franchisor Disclosure [Line Items]
Number of restaurants	75
Company Restaurants | Denny's Brand
Franchisor Disclosure [Line Items]
Number of restaurants	64
Company Restaurants | Keke's
Franchisor Disclosure [Line Items]
Number of restaurants	11

Receivables - Receivables, Net

Receivables - Receivables, Net (Details) - USD ($) $ in Thousands	Mar. 27, 2024	Dec. 27, 2023
Receivables, net:
Trade accounts receivable from franchisees	$ 12,181	$ 14,092
Notes and loan receivables from franchisees	340	584
Allowance for credit losses	(305)	(201)
Total receivables, net	17,288	21,391
Vendor receivables
Receivables, net:
Other receivables, gross, current	2,154	4,059
Credit card receivables
Receivables, net:
Other receivables, gross, current	784	995
Other
Receivables, net:
Other receivables, gross, current	$ 2,134	$ 1,862

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Schedule of Goodwill by Segment (Details) - USD ($) $ in Thousands	Mar. 27, 2024	Dec. 27, 2023
Goodwill [Line Items]
Total goodwill	$ 65,908	$ 65,908
Denny’s
Goodwill [Line Items]
Total goodwill	37,527	37,527
Other
Goodwill [Line Items]
Total goodwill	$ 28,381	$ 28,381

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Finite-Lived and Indefinite-Lived Intangible Assets (Details) - USD ($) $ in Thousands	Mar. 27, 2024	Dec. 27, 2023
Intangible Assets
Trade names	$ 79,687	$ 79,687
Liquor licenses	120	120
Finite-Lived Intangible Assets [Line Items]
Accumulated Amortization	6,931	6,549
Intangible assets, net	99,977	99,977
Reacquired franchise rights
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	9,470	9,470
Accumulated Amortization	5,820	5,614
Franchise agreements
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	10,700	10,700
Accumulated Amortization	$ 1,111	$ 935

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 27, 2024	Mar. 29, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense for intangible assets	$ 0.4	$ 0.4

Other Current Liabilities (Deta

Other Current Liabilities (Details) - USD ($) $ in Thousands	Mar. 27, 2024	Dec. 27, 2023
Other Liabilities, Current [Abstract]
Accrued payroll	$ 11,896	$ 16,400
Current portion of liability for insurance claims	3,977	3,758
Accrued taxes	4,062	4,699
Accrued advertising	9,827	10,664
Gift cards	6,398	7,838
Accrued legal settlements	8,436	7,488
Accrued interest	4,714	4,530
Other	7,676	7,691
Other current liabilities	$ 56,986	$ 63,068

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Schedule of Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - Recurring - USD ($) $ in Thousands	Mar. 27, 2024	Dec. 27, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation plan investments	$ 11,378	$ 12,225
Interest rate swaps	16,978	8,888
Investments	2,787	1,281
Total	31,143	22,394
Quoted Prices in Active Markets for Identical Assets/Liabilities (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation plan investments	11,378	12,225
Interest rate swaps	0	0
Investments	0	0
Total	11,378	12,225
Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation plan investments	0	0
Interest rate swaps	16,978	8,888
Investments	2,787	1,281
Total	19,765	10,169
Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation plan investments	0	0
Interest rate swaps	0	0
Investments	0	0
Total	$ 0	$ 0

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Schedule of Financial Assets and Liabilities Measured at Fair Value on a Non - Recurring Basis (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 27, 2024	Mar. 29, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment Charges	$ 95	$ 129
Fair Value, Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment Charges	100
Significant Unobservable Inputs (Level 3) | Fair Value, Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value measurements	0
Impairment Charges	$ 95

Fair Value of Financial Instr_5

Fair Value of Financial Instruments - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 27, 2024	Mar. 29, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment charges	$ 95	$ 129
Fair Value, Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment charges	$ 100

Long-Term Debt - Narrative (Det

Long-Term Debt - Narrative (Details) - USD ($)	3 Months Ended
	Mar. 27, 2024	Mar. 29, 2023	Dec. 27, 2023	Mar. 28, 2023	Dec. 28, 2022
Line of Credit Facility [Line Items]
Notional Amount	$ 214,000,000
Total shareholders' deficit	(55,744,000)	$ (45,002,000)	$ (62,686,000)		$ (37,116,000)
Derivatives
Line of Credit Facility [Line Items]
Reclassification	(1,508,000)
Total shareholders' deficit	(35,168,000)		$ (41,322,000)
Amortization of unrealized losses related to interest rate swaps to interest expense, net
Line of Credit Facility [Line Items]
Reclassification	142,000
Interest Rate Swap 2020-2033
Line of Credit Facility [Line Items]
Notional Amount	44,000,000
Termination fee		1,500,000
Interest Rate Swap 2020-2033 | Maximum
Line of Credit Facility [Line Items]
Notional Amount	335,000,000	335,000,000		$ 425,000,000
Effective Interest Rate Swaps
Line of Credit Facility [Line Items]
Derivative asset	17,000,000
Reclassification	1,500,000
Expected reclassification within next twelve months	6,200,000
Dedesignated Interest Rate Swaps | Other Nonoperating Income (Expense)
Line of Credit Facility [Line Items]
Unrealized gain (loss) on derivatives		10,600,000
Dedesignated Interest Rate Swaps | Derivatives
Line of Credit Facility [Line Items]
Total shareholders' deficit	64,000,000
Dedesignated Interest Rate Swaps | Amortization of unrealized losses related to interest rate swaps to interest expense, net
Line of Credit Facility [Line Items]
Reclassification	100,000	$ 100,000
Dedesignated Interest Rate Swaps | Derivatives
Line of Credit Facility [Line Items]
Expected reclassification within next twelve months	$ 900,000
Senior Secured Revolver
Line of Credit Facility [Line Items]
Line of credit facility, term (in years)	5 years
Line of credit facility, current borrowing capacity	$ 400,000,000
Line of credit facility, accordion feature, increase limit	450,000,000
Outstanding amount under credit facility	261,200,000
Availability under the credit facility	$ 121,800,000
Commitment fee, percent	0.35%
Weighted-average interest rate	7.69%		7.41%
Senior Secured Revolver | Interest Rate Swap
Line of Credit Facility [Line Items]
Weighted-average interest rate	5.30%		5.04%
Senior Secured Revolver | Secured Overnight Financing Rate (SOFR)
Line of Credit Facility [Line Items]
Basis spread on variable rate debt (as a percent)	2.25%
Letter of Credit
Line of Credit Facility [Line Items]
Line of credit facility, current borrowing capacity	$ 25,000,000
Outstanding amount of letters of credit	$ 17,000,000
Interest rate	2.38%

Long-Term Debt - Interest Rate

Long-Term Debt - Interest Rate Swaps (Details) - USD ($)	Mar. 27, 2024	Mar. 29, 2023	Mar. 28, 2023
Derivative [Line Items]
Notional Amount	$ 214,000,000
Fair Value	16,978,000
Interest Rate Swap 2018-2025
Derivative [Line Items]
Notional Amount	120,000,000
Fair Value	$ 3,040,000
Fixed Rate	2.34%
Interest Rate Swap 2018-2026
Derivative [Line Items]
Notional Amount	$ 50,000,000
Fair Value	$ 1,980,000
Fixed Rate	2.37%
Interest Rate Swap 2020-2033
Derivative [Line Items]
Notional Amount	$ 44,000,000
Fair Value	$ 11,958,000
Fixed Rate	3.09%
Interest Rate Swap 2020-2033 | Maximum
Derivative [Line Items]
Notional Amount	$ 335,000,000	$ 335,000,000	$ 425,000,000

Revenues - Schedule of Disaggre

Revenues - Schedule of Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 27, 2024	Mar. 29, 2023
Disaggregation of Revenue [Line Items]
Total operating revenue	$ 109,974	$ 117,471
Company restaurant sales
Disaggregation of Revenue [Line Items]
Total operating revenue	52,342	53,452
Royalties
Disaggregation of Revenue [Line Items]
Total operating revenue	29,306	30,027
Advertising revenue
Disaggregation of Revenue [Line Items]
Total operating revenue	18,138	19,668
Initial and other fees
Disaggregation of Revenue [Line Items]
Total operating revenue	1,816	4,990
Occupancy revenue
Disaggregation of Revenue [Line Items]
Total operating revenue	8,372	9,334
Franchise and license revenue
Disaggregation of Revenue [Line Items]
Total operating revenue	$ 57,632	$ 64,019

Revenues - Schedule of Componen

Revenues - Schedule of Components of Lease Income (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 27, 2024	Mar. 29, 2023
Revenue from Contract with Customer [Abstract]
Operating lease revenue	$ 6,128	$ 6,871
Variable lease revenue	2,244	2,463
Total occupancy revenue	$ 8,372	$ 9,334

Revenues - Schedule of Compon_2

Revenues - Schedule of Components of the Change in Deferred Franchise Revenue (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 27, 2024	Dec. 27, 2023
Movement In Deferred Revenue Roll Forward
Balance, December 27, 2023	$ 19,150
Fees received from franchisees	220
Revenue recognized	(779)
Balance, March 27, 2024	18,591	$ 19,150
Less current portion included in other current liabilities	2,132
Deferred franchise revenue included in other noncurrent liabilities	$ 16,459
Deferred revenue recognized		$ 700

Revenues - Change In Contract A

Revenues - Change In Contract Assets (Details) $ in Thousands	3 Months Ended
	Mar. 27, 2024 USD ($)
Contract with Customer, Asset, Allowance for Credit Loss [Roll Forward]
Balance, December 27, 2023	$ 6,608
Franchisee deferred costs	27
Contract asset amortization	(347)
Balance, March 27, 2024	6,288
Less current portion included in other current assets	1,005
Contract assets included in other noncurrent assets	$ 5,283

Revenues - Narrative (Details)

Revenues - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 27, 2024	Mar. 29, 2023	Dec. 27, 2023
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue recognized	$ 109,974	$ 117,471
Contract with customer	17,288		$ 21,391
Liability balance	2,132
Deferred revenue recognized			700
Gift Card Redemption
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Liability balance	6,400		7,800
Deferred revenue recognized	200
Franchise Equipment Programs
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue recognized	300	$ 2,400
Inventory related to franchise equipment programs	500
Contract with customer	$ 100
Kitchen Modernization Program For Franchise Restaurants
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Inventory related to franchise equipment programs			600
Contract with customer			$ 300

Revenues - Deferred Revenue (De

Revenues - Deferred Revenue (Details) $ in Thousands	Mar. 27, 2024 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Deferred franchise revenue expected to be recognized	$ 12,303
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-03-28
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Deferred franchise revenue expected to be recognized	$ 859
Revenue, remaining performance obligation, expected timing of satisfaction, period	9 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-12-26
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Deferred franchise revenue expected to be recognized	$ 1,131
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Deferred franchise revenue expected to be recognized	$ 1,131
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-12-31
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Deferred franchise revenue expected to be recognized	$ 1,100
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-12-30
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Deferred franchise revenue expected to be recognized	$ 973
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2028-12-28
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Deferred franchise revenue expected to be recognized	$ 7,109
Revenue, remaining performance obligation, expected timing of satisfaction, period

Operating (Gains), Losses and_3

Operating (Gains), Losses and Other Charges, Net - Schedule of Operating Gains Losses and Other Charges, Net (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 27, 2024	Mar. 29, 2023
Other Income and Expenses [Abstract]
Gains on sales of assets and other, net	$ (620)	$ (1,522)
Restructuring charges and exit costs	198	64
Impairment charges	95	129
Operating (gains), losses and other charges, net	$ (327)	$ (1,329)

Operating (Gains), Losses and_4

Operating (Gains), Losses and Other Charges, Net - Narrative (Details) $ in Thousands	3 Months Ended
	Mar. 27, 2024 USD ($) restaurant	Mar. 29, 2023 USD ($)	Dec. 27, 2023 USD ($) parcel restaurant
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Assets held for sale	$ 1,060		$ 1,455
Number of restaurants | restaurant	1,614
Severance and other restructuring charges	$ 1,000		1,400
Impairment charges	95	$ 129
Held-for-sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Assets held for sale	1,100		1,500
Property	600		900
Goodwill	$ 500		$ 500
Number of restaurants | restaurant	3		3
Other assets			$ 100
Number of real estate properties | parcel			1

Operating (Gains), Losses and_5

Operating (Gains), Losses and Other Charges, Net - Schedule of Restructuring Charges and Exit Costs (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 27, 2024	Mar. 29, 2023
Restructuring charges and exit costs [Abstract]
Exit costs	$ 42	$ 0
Severance and other restructuring charges	156	64
Total restructuring charges and exit costs	$ 198	$ 64

Share-Based Compensation - Sche

Share-Based Compensation - Schedule of Total Share-based Compensation (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 27, 2024	Mar. 29, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation	$ 2,776	$ 3,094
Employee share awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation	2,571	2,847
Restricted stock units for board members
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation	$ 205	$ 247

Share-Based Compensation - Narr

Share-Based Compensation - Narrative (Details) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Mar. 27, 2024 USD ($) $ / shares shares
Certain Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost | $	$ 24
Unrecognized contractual term (in years)	2 years 4 months 24 days
PSUs, TSR | Certain Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants in periods (in shares)	0.6
Fair value of units granted (in dollars per share) | $ / shares	$ 15.48
Performance Shares | Certain Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Period of performance	3 years
Performance Shares | Certain Employee | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of target achievement	0%
Performance Shares | Certain Employee | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of target achievement	200%
Restricted Stock Units | Certain Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants in periods (in shares)	0.7
Fair value of units granted (in dollars per share) | $ / shares	$ 10.81
Period of performance	3 years
Restricted Stock Units | Board Members
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost | $	$ 0.1
Unrecognized contractual term (in years)	1 month 6 days
PSUs and RSUs | Certain Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, shares issued (in shares)	0.4
Shares paid for tax withholding (in shares)	0.2

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended
	Mar. 27, 2024	Mar. 29, 2023
Income Tax Disclosure [Abstract]
Effective tax rate expense (benefit), percent	24.60%	61.50%
Share-based compensation, percent		36.60%

Net Income Per Share (Details)

Net Income Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 27, 2024	Mar. 29, 2023
Earnings Per Share [Abstract]
Net income	$ 4,691	$ 597
Weighted average shares outstanding - basic (in shares)	53,068	57,638
Effect of dilutive share-based compensation awards (in shares)	146	202
Weighted average shares outstanding - diluted (in shares)	53,214	57,840
Net income per share - basic (in dollars per share)	$ 0.09	$ 0.01
Net income per share - diluted (in dollars per share)	$ 0.09	$ 0.01
Anti-dilutive share-based compensation awards (in shares)	970	807

Shareholders' Deficit - Narrati

Shareholders' Deficit - Narrative (Details) - USD ($) $ / shares in Units, shares in Thousands	3 Months Ended
	Mar. 27, 2024	Dec. 27, 2023	Mar. 29, 2023	Dec. 30, 2020
Equity, Class of Treasury Stock [Line Items]
Purchase of treasury stock (in shares)	500
Purchase of treasury stock	$ 4,763,000		$ 8,967,000
Retirement of shares (in shares)		12,800
Weighted average share price (in dollars per share)		$ 11.02
Treasury stock, at cost (in shares)	1,143	667
Share Repurchase Program 2019
Equity, Class of Treasury Stock [Line Items]
Share repurchase, authorized amount				$ 250,000,000
Purchase of treasury stock	$ 154,300,000
Remaining shares to be repurchased	$ 95,700,000

Shareholders' Deficit - Compone

Shareholders' Deficit - Components of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 27, 2024	Mar. 29, 2023
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance as of beginning of period	$ (62,686)	$ (37,116)
Income tax expense related to items of other comprehensive income (loss)	(2,084)
Balance as of end of period	(55,744)	(45,002)
Defined Benefit Plans
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance as of beginning of period	(337)
Income tax expense related to items of other comprehensive income (loss)	(6)
Balance as of end of period	(327)
Amortization of net loss
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Reclassification	16
Derivatives
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance as of beginning of period	(41,322)
Reclassification	(1,508)
Changes in the fair value of cash flow hedges	9,598
Income tax expense related to items of other comprehensive income (loss)	(2,078)
Balance as of end of period	(35,168)
Amortization of unrealized losses related to interest rate swaps to interest expense, net
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Reclassification	142
Accumulated Other Comprehensive Loss, Net
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance as of beginning of period	(41,659)	(42,697)
Balance as of end of period	$ (35,495)	$ (42,340)

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 27, 2024	Mar. 29, 2023
Supplemental Cash Flow Information [Abstract]
Income taxes paid, net	$ 355	$ 489
Interest paid	4,006	4,253
Noncash investing and financing activities:
Accrued purchase of property	100	0
Issuance of common stock, pursuant to share-based compensation plans	3,793	5,257
Execution of finance leases	42	14
Treasury stock payable	$ 552	$ 468

Segment Information (Details)

Segment Information (Details) $ in Thousands	3 Months Ended
	Mar. 27, 2024 USD ($) segment	Mar. 29, 2023 USD ($)	Dec. 27, 2023 USD ($)
Segment Reporting [Abstract]
Number of operating segments | segment	2
Segment Reporting Information [Line Items]
Total operating revenue	$ 109,974	$ 117,471
General and administrative expenses	21,222	20,118
Depreciation and amortization	3,581	3,656
Operating (gains), losses and other charges, net	(327)	(1,329)
Total other operating expenses	24,476	22,445
Operating income	10,006	16,147
Interest expense, net	4,420	4,505
Other nonoperating expense (income), net	(637)	10,093
Income before income taxes	6,223	1,549
Provision for income taxes	1,532	952
Net income	4,691	597
Total assets	460,411		$ 464,818
Operating Segments
Segment Reporting Information [Line Items]
Total operating revenue	109,974	117,471
Total restaurant-level operating margin	34,482	38,592
Total assets	460,411		464,818
Operating Segments | Denny’s
Segment Reporting Information [Line Items]
Total operating revenue	104,011	112,230
Total restaurant-level operating margin	33,660	36,640
Total assets	336,143		340,136
Operating Segments | Other
Segment Reporting Information [Line Items]
Total operating revenue	5,963	5,241
Total restaurant-level operating margin	822	$ 1,952
Total assets	$ 124,268		$ 124,682