Denny's (DENN) 10-K 24 Feb 25 2024 FY Annual report Financial data

Cover

Cover - USD ($)	12 Months Ended
	Dec. 25, 2024	Feb. 20, 2025	Jun. 26, 2024
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 25, 2024
Current Fiscal Year End Date	--12-25
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	29319-9966
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 Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Auditor Attestation Flag	true
Document Financial Statement Error Correction	false
Entity Shell Company	false
Entity Public Float			$ 290,174,732
Entity Common Stock, Shares Outstanding		51,611,066
Documents Incorporated by Reference	Portions of the registrant’s definitive Proxy Statement for the 2025 Annual Meeting of Stockholders are incorporated by reference into Part III of this Form 10-K.
Entity Central Index Key	0000852772
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY
Amendment Flag	false

Audit Information

Audit Information	12 Months Ended
	Dec. 25, 2024
Audit Information [Abstract]
Auditor Name	KPMG LLP
Auditor Location	Charlotte, NC
Auditor Firm ID	185

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 25, 2024	Dec. 27, 2023
Current assets:
Cash and cash equivalents	$ 1,698	$ 4,893
Investments	1,106	1,281
Receivables, net	24,433	21,391
Inventories	1,747	2,175
Assets held for sale	381	1,455
Prepaid and other current assets	10,628	12,855
Total current assets	39,993	44,050
Property, net of accumulated depreciation of $159,588 and $159,879, respectively	111,417	93,494
Financing lease right-of-use assets, net of accumulated amortization of $6,783 and $8,220, respectively	6,200	6,098
Operating lease right-of-use assets, net	124,738	116,795
Goodwill	66,357	65,908
Intangible assets, net	91,739	93,428
Deferred financing costs, net	1,066	1,702
Other noncurrent assets	54,764	43,343
Total assets	496,274	464,818
Current liabilities:
Current finance lease liabilities	1,284	1,383
Current operating lease liabilities	15,487	14,779
Accounts payable	19,985	24,070
Other current liabilities	58,842	63,068
Total current liabilities	95,598	103,300
Long-term liabilities:
Long-term debt	261,300	255,500
Noncurrent finance lease liabilities	9,284	9,150
Noncurrent operating lease liabilities	120,841	114,451
Liability for insurance claims, less current portion	5,866	6,929
Deferred income taxes, net	9,964	6,582
Other noncurrent liabilities	27,446	31,592
Total long-term liabilities	434,701	424,204
Total liabilities	530,299	527,504
Commitments and contingencies (Note 18)
Shareholders’ deficit
Common stock $0.01 par value; shares authorized - 135,000; December 25, 2024: 51,329 shares issued and outstanding; December 27, 2023: 52,906 shares issued and 52,239 shares outstanding	513	529
Paid-in capital	0	6,688
Deficit	(2,499)	(21,784)
Accumulated other comprehensive loss, net	(32,039)	(41,659)
Treasury stock, at cost, 0 and 667 shares, respectively	0	(6,460)
Total shareholders’ deficit	(34,025)	(62,686)
Total liabilities and shareholders’ deficit	$ 496,274	$ 464,818

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 25, 2024	Dec. 27, 2023
Assets
Less accumulated depreciation	$ 159,588	$ 159,879
Accumulated amortization	$ 6,783	$ 8,220
Shareholders’ deficit
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, authorized (in shares)	135,000,000	135,000,000
Common stock, issued (in shares)	51,329,000	52,906,000
Common stock, outstanding (in shares)	51,329,000	52,239,000
Treasury stock, at cost (in shares)	0	667,000

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 25, 2024	Dec. 27, 2023	Dec. 28, 2022
Revenue:
Total operating revenue	$ 452,334	$ 463,922	$ 456,429
Costs of company restaurant sales, excluding depreciation and amortization:
Product costs	53,931	55,789	53,617
Payroll and benefits	80,605	80,666	76,412
Occupancy	18,129	16,809	15,154
Other operating expenses	37,079	34,335	34,275
Total costs of company restaurant sales, excluding depreciation and amortization	189,744	187,599	179,458
Costs of franchise and license revenue	120,226	122,452	135,327
General and administrative expenses	80,197	77,770	67,173
Depreciation and amortization	14,857	14,385	14,862
Goodwill impairment charges	20	6,363	0
Operating (gains), losses and other charges, net	1,974	2,530	(1,005)
Total operating costs and expenses, net	407,018	411,099	395,815
Operating income	45,316	52,823	60,614
Interest expense, net	17,974	17,597	13,769
Other nonoperating (income) expense, net	(1,907)	8,288	(52,585)
Net income before income taxes	29,249	26,938	99,430
Provision for income taxes	7,678	6,993	24,718
Net income	$ 21,571	$ 19,945	$ 74,712
Net income per share - basic (in dollars per share)	$ 0.41	$ 0.36	$ 1.23
Net income per share - diluted (in dollars per share)	$ 0.41	$ 0.35	$ 1.23
Basic weighted average shares outstanding (in shares)	52,499	55,984	60,771
Diluted weighted average shares outstanding (in shares)	52,614	56,196	60,879
Company restaurant sales
Revenue:
Total operating revenue	$ 211,781	$ 215,532	$ 199,753
Franchise and license revenue
Revenue:
Total operating revenue	$ 240,553	$ 248,390	$ 256,676

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 25, 2024	Dec. 27, 2023	Dec. 28, 2022
Statement of Comprehensive Income [Abstract]
Net income	$ 21,571	$ 19,945	$ 74,712
Other comprehensive income (loss), net of tax:
Minimum pension liability adjustment, net of tax of $44, $(151) and $113, respectively	128	218	345
Changes in the fair value of cash flow derivatives, net of tax of $4,523, $1,927 and $3,214, respectively	13,346	4,335	10,405
Reclassification of cash flow derivatives to interest expense, net of tax of $(1,494), $(1,247) and $309, respectively	(4,422)	(3,781)	1,001
Amortization of unrealized losses related to dedesignated derivatives to interest expense, net of tax of $192, $87 and $7, respectively	568	266	22
Other comprehensive income	9,620	1,038	11,773
Total comprehensive income	$ 31,191	$ 20,983	$ 86,485

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 25, 2024	Dec. 27, 2023	Dec. 28, 2022
Statement of Comprehensive Income [Abstract]
Minimum pension liability adjustment, tax	$ 44	$ (151)	$ 113
Changes in the fair value of cash flow derivatives, tax	4,523	1,927	3,214
Reclassification of cash flow derivatives to interest expense, tax	(1,494)	(1,247)	309
Amortization of unrealized losses related to dedesignated derivatives to interest expense, tax	$ 192	$ 87	$ 7

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 period (in shares) at Dec. 29, 2021		64,200
Balance as of beginning period at Dec. 29, 2021	$ (65,265)	$ 642	$ (30,592)	$ 135,596	$ (116,441)	$ (54,470)
Balance as of beginning of period, treasury stock (in shares) at Dec. 29, 2021			(1,990)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	74,712				74,712
Other comprehensive income	11,773					11,773
Share-based compensation on equity classified awards, net of withholding tax	6,548			6,548
Purchase of treasury stock, including excise tax (in shares)			(6,280)
Purchase of treasury stock, including excise tax	(64,884)		$ (64,884)
Issuance of common stock for share-based compensation (in shares)		798
Issuance of common stock for share-based compensation	0	$ 8		(8)
Balance as of end of period (in shares) at Dec. 28, 2022		64,998
Balance as of end of period at Dec. 28, 2022	(37,116)	$ 650	$ (95,476)	142,136	(41,729)	(42,697)
Balance as of end of period, treasury stock (in shares) at Dec. 28, 2022			(8,270)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	19,945				19,945
Other comprehensive income	1,038					1,038
Share-based compensation on equity classified awards, net of withholding tax	5,546			5,546
Purchase of treasury stock, including excise tax (in shares)			(5,202)
Purchase of treasury stock, including excise tax	(52,099)		$ (52,099)
Retirement of treasury stock (in shares)		(12,805)	12,805
Retirement of treasury stock	0	$ (128)	$ 141,115	(140,987)
Issuance of common stock for share-based compensation (in shares)		713
Issuance of common stock for share-based compensation	$ 0	$ 7		(7)
Balance as of end of period (in shares) at Dec. 27, 2023	52,906	52,906
Balance as of end of period at Dec. 27, 2023	$ (62,686)	$ 529	$ (6,460)	6,688	(21,784)	(41,659)
Balance as of end of period, treasury stock (in shares) at Dec. 27, 2023	(667)		(667)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 21,571				21,571
Other comprehensive income	9,620					9,620
Share-based compensation on equity classified awards, net of withholding tax	8,701			8,701
Purchase of treasury stock, including excise tax (in shares)			(1,349)
Purchase of treasury stock, including excise tax	(11,231)		$ (11,231)
Retirement of treasury stock (in shares)		(2,016)	2,016
Retirement of treasury stock	0	$ (20)	$ 17,691	(15,385)	(2,286)
Issuance of common stock for share-based compensation (in shares)		439
Issuance of common stock for share-based compensation	$ 0	$ 4		(4)
Balance as of end of period (in shares) at Dec. 25, 2024	51,329	51,329
Balance as of end of period at Dec. 25, 2024	$ (34,025)	$ 513	$ 0	$ 0	$ (2,499)	$ (32,039)
Balance as of end of period, treasury stock (in shares) at Dec. 25, 2024	0		0

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 25, 2024	Dec. 27, 2023	Dec. 28, 2022
Cash flows from operating activities:
Net income	$ 21,571	$ 19,945	$ 74,712
Adjustments to reconcile net income to cash flows provided by operating activities:
Depreciation and amortization	14,857	14,385	14,862
Goodwill impairment charges	20	6,363	0
Operating (gains), losses and other charges, net	1,974	2,530	(1,005)
Losses (gains) and amortization on interest rate swap derivatives, net	760	10,959	(54,989)
Amortization of deferred financing costs	636	635	634
(Gains) losses on investments	(100)	(85)	305
Losses (gains) on early termination of debt and leases	24	17	(37)
Deferred income tax (benefit) expense	(267)	(1,703)	14,732
Increase of tax valuation allowance	464	205	546
Share-based compensation expense	10,678	8,880	11,400
Changes in assets and liabilities, excluding acquisitions and dispositions:
Receivables	(3,287)	3,904	(5,892)
Inventories	428	3,362	(460)
Prepaids and other current assets	2,226	(325)	(1,138)
Other assets	(483)	(2,509)	(2,129)
Operating lease assets and liabilities	(596)	(628)	(696)
Accounts payable	(9,506)	4,032	3,918
Other accrued liabilities	(5,094)	3,356	(8,798)
Other noncurrent liabilities	(4,818)	(1,198)	(6,513)
Net cash flows provided by operating activities	29,487	72,125	39,452
Cash flows from investing activities:
Capital expenditures	(28,569)	(9,978)	(11,844)
Acquisitions of restaurant and real estate	0	(1,227)	(750)
Acquisition of Keke’s Breakfast Cafe	0	0	(82,500)
Collection of real estate acquisition deposit	0	0	3,624
Initial operating lease direct costs	0	(400)	0
Proceeds from sales of real estate, restaurants and other assets	1,375	3,211	4,144
Investment purchases	(1,500)	(1,300)	(1,200)
Proceeds from sale of investments	1,775	1,850	1,700
Collections on notes receivable	576	573	246
Issuance of notes receivable	(330)	(293)	(16)
Net cash flows used in investing activities	(26,673)	(7,564)	(86,596)
Cash flows from financing activities:
Revolver borrowings	115,200	148,300	175,325
Revolver payments	(109,400)	(154,300)	(83,825)
Long-term debt payments	(1,411)	(1,786)	(2,020)
Tax withholding on share-based payments	(1,893)	(3,007)	(4,781)
Purchase of treasury stock	(11,721)	(52,079)	(64,975)
Net bank overdrafts	3,216	(319)	319
Net cash flows (used in) provided by financing activities	(6,009)	(63,191)	20,043
Increase (decrease) in cash and cash equivalents	(3,195)	1,370	(27,101)
Cash and cash equivalents at beginning of period	4,893	3,523	30,624
Cash and cash equivalents at end of period	$ 1,698	$ 4,893	$ 3,523

Introduction and Basis of Repor

Introduction and Basis of Reporting	12 Months Ended
	Dec. 25, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Introduction and Basis of Reporting	Introduction and Basis of Reporting Denny’s Corporation, or the Company, is one of America’s largest franchised full-service restaurant chains based on number of restaurants. As of December 25, 2024, the Company consisted of 1,568 restaurants, 1,493 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”). Keke’s was acquired on July 20, 2022. See Note 3 for details. At December 25, 2024, the Denny’s brand consisted of 1,499 restaurants, 1,438 of which were franchised or licensed restaurants and 61 of which were company operated. Denny’s restaurants are operated in 50 states, the District of Columbia, two U.S. territories and 12 foreign countries with principal concentrations in California (24% of total restaurants), Texas (13%) and Florida (8%). At December 25, 2024, the Keke's brand consisted of 69 restaurants, 55 of which were franchised restaurants and 14 of which were company operated. Keke’s restaurants are operated in six states with principal concentration in Florida (88% of total restaurants).

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 25, 2024
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies The following accounting policies significantly affect the preparation of our consolidated financial statements: Use of Estimates . In preparing our consolidated financial statements in conformity with U.S. generally accepted accounting principles (GAAP), management is required to make certain assumptions and estimates that affect reported amounts of assets, liabilities, revenues, expenses and the disclosure of contingencies. In making these assumptions and estimates, management may from time to time seek advice and consider information provided by actuaries and other experts in a particular area. Actual amounts could differ materially from these estimates. Consolidation Policy . Our consolidated financial statements include the financial statements of Denny’s Corporation and its wholly-owned subsidiaries: Denny’s, Inc., DFO, LLC, Denny’s Realty, LLC, Keke’s Inc., Keke’s Franchise Organization and East Main Insurance Company. All significant intercompany balances and transactions have been eliminated in consolidation. Fiscal Year . Our fiscal year ends on the last Wednesday in December. As a result, a fifty-third week is added to a fiscal year every five or six years. Fiscal 2024, 2023 and 2022 each included 52 weeks of operations. Our next 53-week year will be fiscal 2025. Cash and Cash Equivalents. Our policy is to invest cash in excess of operating requirements in short-term highly liquid investments with an original maturity of three months or less, which we consider to be cash equivalents. Cash and cash equivalents include short-term investments of $0.1 million at December 25, 2024 and December 27, 2023, respectively. Receivables. Receivables, which are recorded at net realizable value, primarily consist of trade accounts receivables and financing receivables from franchisees, vendor receivables and credit card receivables. Trade accounts receivables from franchisees consist of royalties, advertising and rent. Financing receivables from franchisees primarily consist of notes from franchisees related to the roll-out of restaurant equipment. We accrue interest on notes receivable based on the contractual terms. The allowance for doubtful accounts is based on management’s estimates of expected credit losses based on the Company’s historical loss experience, adjusted for current and reasonable and supportable forecasts of economic conditions and other pertinent factors affecting the Company’s customers such as known credit risk or industry trends. Receivables that are ultimately deemed to be uncollectible, and for which collection efforts have been exhausted, are written off against the allowance for doubtful accounts. Inventories. Inventories consist primarily of food, beverages and, in some periods, equipment and are valued at the lower of first-in, first-out cost or net realizable value. Property and Depreciation. Owned property is stated at cost. Property under finance leases is stated at the lesser of its fair value or the net present value of the related minimum lease payments at the lease inception. Maintenance and repairs are expensed as incurred. We depreciate owned property over its estimated useful life using the straight-line method. We amortize property held under finance leases (at capitalized value) over the lesser of its estimated useful life or the lease term. Building assets are assigned estimated useful lives that range from five two five Goodwill. Amounts recorded as goodwill primarily represent excess reorganization value recognized as a result of our 1998 bankruptcy and from our acquisition of Keke’s in 2022. We also record goodwill in connection with the acquisition of restaurants from franchisees. Likewise, upon the sale of restaurant operations to franchisees, goodwill is decremented. We test goodwill for impairment at each fiscal year end and more frequently if circumstances indicate impairment may exist. Such indicators include, but are not limited to, a significant decline in our expected future cash flows, a significant adverse decline in our stock price, significantly adverse legal developments or a significant change in the business climate. Intangible Assets . Intangible assets consist primarily of trade names, franchise agreements and reacquired franchise rights. Trade names are considered indefinite-lived intangible assets and are not amortized. Franchise agreements are amortized using the straight-line basis over the term of the related franchise agreement. Reacquired franchise rights are amortized using the straight-line basis over the term of the related franchise agreement. Franchise agreements and reacquired franchise rights resulting from acquisitions are accounted for using the purchase method of accounting and are estimated by management based on the fair value of the assets received. We test trade name assets for impairment at each fiscal year end, and more frequently if circumstances indicate impairment may exist. We assess impairment of reacquired franchise rights and franchise agreements whenever changes or events indicate that the carrying values may not be recoverable. Costs incurred to renew or extend the term of recognized intangible assets are recorded in general and administrative expenses in our Consolidated Statements of Income. Marketable Securities. Marketable securities included in investments consist of available for sale equity instruments and are recorded at fair market value in our Consolidated Balance Sheets. The aggregate cost and fair value of these marketable securities was $1.1 million and $1.1 million, respectively, at December 25, 2024 and $1.2 million and $1.3 million, respectively, at December 27, 2023. Unrealized gains (losses) included in fair value were gains of less than $0.1 million, gains of $0.1 million and losses of $0.2 million at December 25, 2024, December 27, 2023 and December 28, 2022, respectively. Marketable securities included in other noncurrent assets consist of trading debt and equity mutual funds and are recorded at fair market value in our Consolidated Balance Sheets. These securities represent the plan assets of our nonqualified deferred compensation plan (the “plan assets”). The plan assets are held in a rabbi trust. Each plan participant’s account consists of their contribution, our matching contribution (made prior to 2016) and each participant’s share of earnings or losses in the plan. We have recorded offsetting deferred compensation liabilities as a component of other noncurrent liabilities in our Consolidated Balance Sheets. The realized and unrealized holding gains and losses related to marketable securities are recorded in other nonoperating income with an offsetting amount recorded in general and administrative expenses related to deferred compensation plan liabilities. During 2024, 2023 and 2022, we incurred a net gain of $1.7 million, a net gain of $2.1 million and a net loss of $2.2 million, respectively, related to marketable securities. Deferred Financing Costs. Costs related to the issuance of debt are deferred and amortized as a component of interest expense using the effective interest method over the terms of the respective debt issuances. Self-insurance Liabilities. We record liabilities for insurance claims during periods in which we have been insured under large deductible programs or have been self-insured for our medical claims and workers’ compensation, general, product and automobile insurance liabilities. The liabilities represent estimated incurred losses. These estimates include assumptions regarding claims frequency and severity as well as changes in our business environment, medical costs and the regulatory environment that could impact our overall self-insurance costs. Total workers’ compensation, general, product and automobile insurance liabilities were $9.3 million and $9.7 million at December 25, 2024 and December 27, 2023, respectively. Income Taxes. We account for income taxes under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. All deferred taxes are reported as noncurrent in our Consolidated Balance Sheets. A valuation allowance reduces our net deferred tax asset to the amount that is more likely than not to be realized. We make certain estimates and judgments in the calculation of our provision for incomes taxes, in the resulting tax liabilities, and in the recoverability of deferred tax assets. We recognize positions taken or expected to be taken in a tax return in the consolidated financial statements when it is more-likely-than-not that the position would be sustained upon examination by tax authorities. A recognized tax position is then measured at the largest amount of benefit with greater than 50% likelihood of being realized upon ultimate settlement. We recognize any interest and penalties related to unrecognized tax benefits in income tax expense. Assessment of uncertain tax positions requires judgments relating to the amounts, timing and likelihood of resolution. Leases and Subleases. Lessee We lease certain real estate and equipment for our restaurants and support facilities. At contract inception, we determine whether a contract is, or contains, a lease by determining whether it conveys the right to control the use of the identified asset for a period of time. We recognize a lease liability and a right-of-use (“ROU”) asset at the lease commencement date. For operating leases, the lease liability is initially and subsequently measured at the present value of the unpaid lease payments at the lease commencement date. For finance leases, the lease liability is initially measured in the same manner and date as for operating leases, and is subsequently measured at amortized cost using the effective interest method. Operating lease ROU assets are initially and subsequently measured throughout the lease term at the carrying amount of the lease liability adjusted for initial direct costs, prepayments, accrued payments and lease incentives, if any. Lease cost is recognized on a straight-line basis over the lease term. Operating lease payments are classified as cash flows for operating activities with ROU asset amortization and the change in the lease liability combined as "Operating lease assets/liabilities" in the reconciliation of net income to net cash flows provided by operating activities in the Consolidated Statement of Cash Flows. Finance lease ROU assets are initially measured at cost and subsequently amortized on a straight-line basis over the lesser of the useful life or the lease term. Finance lease principal payments are classified as cash flows used in financing activities in the Consolidated Statement of Cash Flows. Operating and finance lease ROU assets are assessed for impairment using long-lived assets impairment guidance. We use a consistent lease term for calculating the depreciation period for the related assets, classifying the lease and computing periodic rent expense where the lease terms include escalations in rent over the lease term. The lease guidance provides for certain practical expedients and accounting elections. We elected the practical expedient to not separate nonlease components (such as common area maintenance) from lease components in regard to all leases and the portfolio approach in applying the discount rate to our leases. Key estimates and judgments include how we determine (1) lease payments, (2) lease term and (3) the discount rate used to discount the unpaid lease payments to present value. We have certain lease agreements structured with both a fixed base rent and a contingent rent based on a percentage of sales over contractual levels, others with only contingent rent based on a percentage of sales and some with a fixed base rent adjusted periodically for inflation or changes in the fair market rent rate. Contingent rent is recognized as sales occur. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants. The exercise of lease renewal options is at our sole discretion, except in certain sublease situations in which we have determined that it is reasonably certain that one or more options will be exercised, including where the exercise of a sublease option compels us to exercise the renewal option of the underlying master lease. Renewal option periods are included in the measurement of the lease ROU asset and lease liability where the exercise is reasonably certain to occur. The discount rate used to determine the present value of the lease payments is our estimated collateralized incremental borrowing rate, based on the yield curve for the respective lease terms, as we generally cannot determine the interest rate implicit in the lease. Deferrals in rents received from landlords as a result of the COVID-19 pandemic are recognized as reductions in variable lease payments. Lessor We lease or sublease certain restaurant properties to our franchisees and occasionally to third parties. The lease descriptions, terms, variable lease payments and renewal options are the same as the lessee leases described above. Contingent rental income is recognized when earned. Similar to our lessee accounting, we elected the lessor practical expedient to not separate nonlease components from lease components in regard to all leases. Employee Benefit Plans. Each year we measure and recognize the funded status of our defined benefit plans in our Consolidated Balance Sheets as of December 31. That date represents the month-end that is closest to our fiscal year-end. The funded status is adjusted for any contributions or significant events (such as a plan amendment, settlement, or curtailment that calls for a remeasurement) that occurs between our fiscal year-end and December 31. Derivative Instruments. We use derivative financial instruments to manage our exposure to interest rate risk. We do not enter into derivative instruments for trading or speculative purposes. All derivatives are recognized on our Consolidated Balance Sheets at fair value. Changes in the fair values of derivatives are recorded in earnings or other comprehensive income ( “ OCI ” ), based on whether the instrument is designated as a hedge transaction. Gains or losses on derivative instruments reported in OCI are classified to earnings in the period the hedged item affects earnings. If the underlying hedge transaction ceases to exist, any associated amounts reported in OCI are reclassified to earnings. By entering into derivative instruments, we are exposed to counterparty credit risk. When the fair value of a derivative instrument is in an asset position, the counterparty has a liability to us, which creates credit risk for us. We manage our exposure to this risk by selecting counterparties with investment grade credit ratings and regularly monitoring our market position with each counterparty. Contingencies and Litigation. We are subject to legal proceedings involving ordinary and routine claims incidental to our business, as well as legal proceedings that are nonroutine and include compensatory or punitive damage claims. Settlement costs are accrued when they are deemed estimable and probable. Our ultimate legal and financial liability with respect to such matters cannot be estimated with certainty and requires the use of estimates in recording liabilities for potential litigation settlements. When the reasonable estimate is a range, the recorded loss will be the best estimate within the range. We record legal settlement costs as other operating expenses in our Consolidated Statements of Income as those costs are incurred. Comprehensive Income. Comprehensive income includes net income and OCI items that are excluded from net income under U.S. GAAP. OCI items include additional minimum pension liability adjustments, the effective unrealized portion of changes in the fair value of cash flow hedges, and the reclassification and amortization of loss related to the dedesignation of cash flow derivatives. Revenues. Company Restaurant Revenue. Company restaurant revenue is recognized at the point in time when food and beverage products are sold at company restaurants. We present company restaurant sales net of sales-related taxes collected from customers and remitted to governmental taxing authorities. Franchise Revenue. Franchise and license revenues consist primarily of royalties, advertising revenue, initial and other fees and occupancy revenue. Under franchise agreements we provide franchisees with a license of our respective brands’ symbolic intellectual property, administration of advertising programs (including local co-operatives), and other ongoing support functions. These services are highly interrelated, so we do not consider them to be individually distinct performance obligations, and therefore account for them as a single performance obligation. Royalty and advertising revenues represent sales-based royalties that are recognized in the period in which the sales occur. Sales-based royalties are variable consideration related to our performance obligation to our franchisees to maintain the intellectual property being licensed. Under our franchise agreements, franchisee advertising contributions must be spent on marketing and related activities. Advertising revenues and expenditures are recorded on a gross basis within the Consolidated Statements of Income. Initial and other fees include initial, successor and assignment franchise fees (“initial franchise fees”). Initial franchise fees are billed and received upon the signing of the franchise agreement. Recognition of these fees is deferred until the commencement date of the agreement and occurs over time based on the term of the underlying franchise agreement. Acquired initial franchise fees are recognized from the acquisition date over time based on the term of the underlying franchise agreement. In the event a franchise agreement is terminated, any remaining deferred fees are recognized in the period of termination. Initial and other fees also include revenue that are distinct from the franchise agreement and are separate performance obligations. Training and other franchise services fees are billed and recognized at a point in time as services are rendered. Equipment revenues are billed and recognized as the equipment is installed. Similar to advertising revenue, equipment revenues and other franchise services fees are recorded on a gross basis within the Consolidated Statements of Income. We record contract assets related to incentives and subsidies provided to franchisees related to new unit openings and/or equipment upgrades. These contract assets are presented within prepaid and other current assets and other noncurrent assets in our Consolidated Balance Sheets. These assets are amortized as a reduction to franchise and license revenue within our Consolidated Statements of Income over the remaining term of the underlying franchise agreement. Occupancy revenue results from leasing or subleasing restaurants to franchisees and is recognized over the term of the lease agreement. With the exception of initial and other franchise fees, revenues are typically billed and collected on a weekly basis. Our ten largest franchisees accounted for 38%, 38% and 37% of our franchise revenues for 2024, 2023 and 2022, respectively. Gift cards. Company restaurants, franchised restaurants and certain third party retailers sell gift cards which have no stated expiration dates. We recognize revenue when a gift card is redeemed in one of our company restaurants. We maintain a gift card liability for cards sold in our company restaurants and for cards sold by third parties. Gift card breakage is recognized proportionally as redemptions occur. Our gift card breakage primarily relates to cards sold by third parties and is recorded as advertising revenue (included as a component of franchise and license revenue). Advertising Costs . We expense production costs for radio and television advertising in the year in which the commercials are initially aired and other advertising costs as incurred. Advertising costs for company restaurants are recorded as a component of other operating expenses in our Consolidated Statements of Income and were $7.9 million, $5.6 million and $5.3 million for 2024, 2023 and 2022, respectively. Advertising costs related to franchised restaurants are recorded as a component of franchise and license costs and were $80.0 million, $78.5 million and $75.9 million in 2024, 2023 and 2022, respectively. Under our franchise agreements, advertising contributions received from franchisees must be spent on marketing and related activities. As the Company is contractually required to spend these contributions on advertising costs, the obligations are accrued and advertising costs expensed when the related revenues are recognized. Restructuring and Exit Costs. Restructuring and exit costs are included as a component of operating (gains), losses and other charges, net in our Consolidated Statements of Income. Restructuring costs consist primarily of severance and other restructuring charges for terminated employees. Amounts recorded as exit costs include period costs related to closed units. Disposal or Impairment of Long-lived Assets. We evaluate our long-lived assets for impairment at the restaurant level on a quarterly basis, when assets are identified as held for sale or whenever changes or events indicate that the carrying value may not be recoverable. For assets identified as held for sale, we use the market approach and consider proceeds from similar asset sales. We assess impairment of restaurant-level assets based on the operating cash flows of the restaurant, expected proceeds from the sale of assets and our plans for restaurant closings. For underperforming assets, we use the income approach to determine both the recoverability and estimated fair value of the assets. To estimate future cash flows, we make certain assumptions about expected future operating performance, such as revenue growth, operating margins, risk-adjusted discount rates, and future economic and market conditions. If the long-lived assets of a restaurant are not recoverable based upon estimated future, undiscounted cash flows, we write the assets down to their fair value. If these estimates or their related assumptions change in the future, we may be required to record additional impairment charges. These charges are included as a component of operating (gains), losses and other charges, net in our Consolidated Statements of Income. Assets held for sale consist of real estate properties and/or restaurant operations that we expect to sell within the next year. The assets are reported at the lower of carrying amount or fair value less costs to sell. Fair value is based upon Level 2 inputs, which include sales agreements. We cease recording depreciation on assets that are classified as held for sale. If the determination is made that we no longer expect to sell an asset within the next year, the asset is reclassified out of held for sale. Discontinued Operations. We evaluate restaurant closures and assets reclassified to assets held for sale for potential disclosure as discontinued operations. Only disposals resulting in a strategic shift that will have a major effect on our operations and financial results are reported as discontinued operations. There have been no such disposals, nor any disposals of individually significant components. The gains and losses related to restaurant closures and assets reclassified to assets held for sale are included as a component of operating (gains), losses and other charges, net in our Consolidated Statements of Income. Gains and Losses on Sales of Restaurant Operations to Franchisees, Real Estate and Other Assets. Generally, gains and losses on sales of restaurant operations to franchisees (which may include real estate), real estate properties and other assets are recognized when the sales are consummated and certain other gain recognition criteria are met. Total gains and losses are included as a component of operating (gains), losses and other charges, net in our Consolidated Statements of Income. Share-based Compensation. Share-based compensation cost is measured at the grant date, based on the fair value of the award, and is recognized as an expense over the requisite service period. Share-based compensation expense is included as a component of general and administrative expenses in our Consolidated Statements of Income. We account for forfeitures as they occur. Excess tax benefits recognized related to share-based compensation are included as a component of provision for income taxes in our Consolidated Statements of Income and are classified as operating activities in our Consolidated Statements of Cash Flows. Generally, compensation expense related to performance share units and restricted stock units is based on the number of units granted, the period over which they are expected to vest and the fair market value of our common stock on the date of the grant. For restricted stock units and performance share units that contain a market condition, compensation expense is based on the Monte Carlo valuation method, which utilizes multiple input variables to determine the probability of the Company achieving the market condition and the fair value of the award. The key assumptions used include expected volatility and risk-free interest rates over the term of the award. We generally recognize compensation cost associated with performance share units over the entire performance period on a straight-line basis. For performance share units awarded to certain retirement eligible individuals with accelerated vesting terms, compensation cost is recognized on a graded-vesting basis. We generally recognize compensation cost associated restricted stock units on a straight-line basis over the entire performance period of the award. Subsequent to the vesting period, earned stock-settled restricted stock units and performance share units (both of which are equity classified) are paid to the holder in shares of our common stock, provided the holder was still employed with the Company or an affiliate as of the vesting date or eligible for retirement at their termination date. Earnings Per Share . Basic earnings per share is calculated by dividing net income by the weighted average number of common shares outstanding during the period. Diluted earnings per share is calculated by dividing net income by the weighted average number of common shares and potential common shares outstanding during the period. Business Combinations. We account for acquisitions using the acquisition method of accounting. Accordingly, assets acquired and liabilities assumed are recorded at their estimated fair values at the acquisition date. The excess of purchase price over fair value of net assets acquired, including the amount assigned to identifiable intangible assets, is recorded as goodwill. 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. 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). The Company adopted ASU 2023-07 during the year ended December 25, 2024. The adoption of this guidance did not have a material effect on our consolidated financial statements. See Note 20 for further detail. Additional new accounting guidance became effective for us as of December 25, 2024 that we reviewed and concluded was either not applicable to our operations or had no material effect on our consolidated financial statements and related disclosures. Accounting Standards to be Adopted 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. In November 2024, the FASB issued ASU 2024-03, “Disaggregation of Income Statement Expenses (Subtopic 220-40)”. The new guidance requires disaggregation of certain relevant expenses included in the consolidated statements of income. ASU 2024-03 is effective for annual periods beginning after December 15, 2026 (our fiscal 2027) and interim periods beginning after December 15, 2027 (our fiscal 2028). 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.

Acquisition of Keke's Breakfast

Acquisition of Keke's Breakfast Cafe	12 Months Ended
	Dec. 25, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Acquisition of Keke's Breakfast Cafe	Acquisition of Keke’s Breakfast Cafe On July 20, 2022, the Company completed its acquisition of Keke's pursuant to that certain Asset Purchase Agreement (the "Purchase Agreement"), dated May 3, 2022, which was subsequently amended by the First Amendment to Asset Purchase Agreement (the "First Amendment"), dated July 11, 2022, by and between the Company, as purchaser, and K2 Restaurants, Inc. together with the other sellers and principals party thereto, for the acquisition of certain assets and assumption of certain liabilities of the franchise business, consisting of 44 franchised restaurants, and eight company owned and operated restaurants. Pursuant to the Purchase Agreement, we agreed to purchase Keke's for a purchase price of $82.5 million. The purchase price was funded by utilizing cash on hand as well as funds from the Company's revolving credit facility. The acquisition was accounted for as a business combination using the acquisition method of accounting. The allocation of the purchase price is based on management's analysis, including work performed by third party valuation specialists. The components of the purchase price allocation were as follows: (In thousands) Total consideration paid $ 82,500 Assets: Property 2,015 Operating lease ROU assets 7,908 Franchise agreements 10,700 Trade name 35,600 Liabilities: Operating lease liabilities 7,908 Deferred franchise revenue 992 Other liabilities 36 Net assets acquired, excluding goodwill 47,287 Goodwill $ 35,213 The Keke's trade name has been assigned an indefinite life, and therefore, will not be amortized, but rather tested annually for impairment. At the acquisition date, franchise agreements had a weighted average useful life of approximately 15 years. Goodwill attributable to the Keke's acquisition will be deductible and amortized for tax purposes. Goodwill is considered to represent the value associated with the workforce and synergies anticipated to be realized as a combined company. Acquisition transaction costs totaling approximately $0.6 million during the year ended December 28, 2022 were recorded in general and administrative expenses in the accompanying Consolidated Statements of Income. Keke’s results are included in the Other segment results beginning with the fiscal 2022 third quarter. Results of operations starting from the date of acquisition of Keke's have been included in our consolidated financial statements for the year ended December 28, 2022. The Keke's acquisition is not material to our consolidated financial statements, and therefore, supplemental pro forma financial information for the year ended December 28, 2022 related to the acquisition is not included herein.

Receivables

Receivables	12 Months Ended
	Dec. 25, 2024
Receivables [Abstract]
Receivables	Receivables Receivables, net consisted of the following: December 25, 2024 December 27, 2023 (In thousands) Receivables, net: Trade accounts receivable from franchisees $ 15,798 $ 14,092 Notes and loan receivables from franchisees 490 584 Vendor receivables 3,632 4,059 Credit card receivables 1,815 995 Other 3,140 1,862 Allowance for doubtful accounts (442) (201) Total receivables, net $ 24,433 $ 21,391

Property

Property	12 Months Ended
	Dec. 25, 2024
Property, Plant and Equipment [Abstract]
Property	Property Property, net consisted of the following: December 25, 2024 December 27, 2023 (In thousands) Land $ 43,196 $ 43,577 Buildings and leasehold improvements 182,560 169,005 Other property and equipment 45,249 40,791 Total property 271,005 253,373 Less accumulated depreciation 159,588 159,879 Property, net $ 111,417 $ 93,494 The following table reflects the property assets, included in the table above, and buildings with finance leases which were leased to franchisees: December 25, 2024 December 27, 2023 (In thousands) Land $ 23,166 $ 23,825 Buildings and leasehold improvements 63,338 66,763 Total property owned, leased to franchisees 86,504 90,588 Less accumulated depreciation 55,699 58,006 Property owned, leased to franchisees, net 30,805 32,582 Buildings held under finance leases, leased to franchisees 5,233 5,505 Less accumulated amortization 3,024 3,218 Property held under finance leases, leased to franchisees, net 2,209 2,287 Total property leased to franchisees, net $ 33,014 $ 34,869 Depreciation expense, including amortization of property under finance leases, for 2024, 2023 and 2022 was $12.6 million, $12.2 million and $12.8 million, respectively. Substantially all owned property is pledged as collateral for our Credit Facility. See Note 10.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	12 Months Ended
	Dec. 25, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Goodwill and Intangible Assets The following table reflects the changes in carrying amounts of goodwill and goodwill by segment: December 25, 2024 December 27, 2023 (In thousands) Balance, beginning of year $ 65,908 $ 72,740 Reclassifications from (to) assets held for sale 469 (469) Impairment charges $ (20) $ (6,363) Balance, end of year (1) $ 66,357 $ 65,908 Goodwill by segment Denny’s $ 37,507 $ 37,527 Other 28,850 28,381 Total goodwill $ 66,357 $ 65,908 (1) Net of accumulated impairment losses of $6.4 million. Intangible assets consist of the following: December 25, 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 9,135 6,188 9,470 5,614 Franchise agreements 10,603 1,618 10,700 935 Intangible assets, net $ 99,545 $ 7,806 $ 99,977 $ 6,549 The weighted-average life of reacquired franchise rights is five years. The weighted-average life of franchise agreements is 13 years. The amortization expense for definite-lived intangibles and other assets for 2024, 2023 and 2022 was $2.2 million, $2.2 million and $2.0 million, respectively. Estimated amortization expense for intangible assets with definite lives in the next five years is as follows: (In thousands) 2025 $ 1,442 2026 1,274 2027 1,235 2028 1,085 2029 1,017 We performed an annual impairment test as of December 25, 2024 and determined that the fair value of the reporting units substantially exceeded their respective carrying values. No impairment charges related to goodwill or other intangible assets with indefinite lives were recorded. However, we recorded $0.1 million of impairment related to reacquired franchise rights and $0.1 million of impairment related to franchise agreements during the year ended December 25, 2024. See Note 14.

Other Current Liabilities

Other Current Liabilities	12 Months Ended
	Dec. 25, 2024
Other Liabilities Disclosure [Abstract]
Other Current Liabilities	Other Current Liabilities Other current liabilities consisted of the following: December 25, 2024 December 27, 2023 (In thousands) Accrued payroll $ 15,434 $ 16,400 Accrued insurance, primarily current portion of liability for insurance claims 4,494 3,758 Accrued taxes 4,432 4,699 Accrued advertising 11,785 10,664 Gift cards 8,382 7,838 Accrued legal settlements 4,114 7,488 Accrued interest 4,368 4,530 Other 5,833 7,691 Other current liabilities $ 58,842 $ 63,068

Fair Value of Financial Instrum

Fair Value of Financial Instruments	12 Months Ended
	Dec. 25, 2024
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Fair Value of Financial Instruments Fair Value of Assets and Liabilities Measured on a Recurring and Nonrecurring 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 December 25, 2024: Deferred compensation plan investments (1) $ 10,400 $ 10,400 $ — $ — Interest rate swaps (2) 20,841 — 20,841 — Investments (3) 1,106 — 1,106 — Total $ 32,347 $ 10,400 $ 21,947 $ — 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 10. (3) The fair value of investments is 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 nonrecurring basis are summarized below: Significant Unobservable Inputs Impairment Charges Fair value measurements as of December 27, 2023: Assets held and used, including other intangible assets (1) $ — $ 375 Goodwill (2) $ 28,381 $ 6,363 (1) As of December 27, 2023, 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. (2) As of December 27, 2023, impaired Keke’s goodwill was written down to fair value. To determine fair value, we used an income approach and market approach, with equal weighting given to each approach, to value the goodwill subject to the impairment. These fair value measurements require significant judgment using Level 3 inputs. The income approach involves the use of estimates and assumptions including forecasted future revenues and operating margins, including projected growth in restaurant unit counts and average unit volumes, royalty rate, and discount rates. Inputs used are generally obtained from historical data supplemented by current and anticipated market conditions and growth rates. The market approach involves the selection and application of cash flows multiples of a group of similar companies to the projected cash flows of the operating segment. Assets that are measured at fair value on a non-recurring basis include property, operating right-of-use assets, finance right-of-use assets, goodwill and reacquired franchise rights. During the year ended December 25, 2024 and December 27, 2023, we recognized impairment charges of $0.8 million and $8.6 million, respectively, related to certain of these assets. See Note 6 and Note 14 . The carrying amounts of cash and cash equivalents, accounts receivables, accounts payable and accrued expenses are deemed to approximate fair value due to the immediate or short-term maturity of these instruments. The fair value of notes receivable approximates the carrying value after consideration of recorded allowances and related risk-based interest rates. The liabilities under our credit facility are carried at historical cost, which approximates fair value. The fair value of our senior secured revolver approximates its carrying value since it is a variable rate facility (Level 2). The determinations of fair values of certain tangible and intangible assets for purposes of the application of the acquisition method of accounting to the acquisition of Keke’s were based on Level 3 inputs.

Leases

Leases	12 Months Ended
	Dec. 25, 2024
Leases [Abstract]
Leases	Leases Lessee Our operations utilize property, facilities and equipment leased from others. Buildings and facilities are primarily used for restaurants and support facilities. Many of our restaurants are operated under lease arrangements which generally provide for a fixed base rent, and, in many instances, contingent rent based on a percentage of gross revenues. Initial terms of land and restaurant building leases generally range from 10 to 20 years, exclusive of options to renew, which are typically for five year periods. Leases of equipment consist primarily of restaurant equipment, computer equipment and vehicles. Initial terms of equipment leases generally range from three Lessor We lease or sublease certain restaurant properties to our franchisees and occasionally to third parties. The lease descriptions, terms, variable lease payments and renewal options are generally the same as the lessee leases described above. The components of lease costs were as follows: Fiscal Year Ended Classification December 25, 2024 December 27, 2023 December 28, 2022 (In thousands) Lease costs Finance lease costs: Amortization of right-of-use assets Depreciation and amortization $ 1,350 $ 1,451 $ 1,704 Interest on lease liabilities Interest expense, net 1,990 2,139 2,350 Operating lease costs: Operating lease costs Occupancy 8,828 8,584 7,624 Operating lease costs Costs of franchise and license revenue 12,702 14,022 15,541 Operating lease costs General and administrative expenses 739 629 564 Operating lease costs Other operating expenses 459 257 — Operating lease costs Restructuring charges and exit costs 125 175 201 Variable lease costs: Variable lease costs Occupancy 4,716 4,789 3,988 Variable lease costs Costs of franchise and license revenue 5,979 6,232 6,596 Variable lease costs General and administrative expenses 333 271 255 Variable lease costs Other operating expenses 6 14 — Variable lease costs Restructuring charges and exit costs 65 46 34 Sublease income: Sublease income Franchise and license revenue (22,817) (24,966) (27,445) Sublease income Restructuring charges and exit costs (192) (166) (229) Total lease costs $ 14,283 $ 13,477 $ 11,183 Lease terms and discount rates were as follows: December 25, 2024 December 27, 2023 Weighted-average remaining lease term (in years): Finance leases 8.7 8.0 Operating leases 9.0 8.8 Weighted-average discount rate: Finance leases 21.4 % 23.1 % Operating leases 6.1 % 6.0 % The components of lease income were as follows: Fiscal Year Ended Classification December 25, 2024 December 27, 2023 December 28, 2022 (In thousands) Lease income Operating lease income Franchise and license revenue $ 24,269 $ 26,353 $ 28,473 Operating lease income Restructuring charges and exit costs 130 119 183 Operating lease income General and administrative expenses 71 118 140 Variable lease income Franchise and license revenue 8,895 9,530 10,124 Variable lease income Restructuring charges and exit costs 61 47 46 Total lease income $ 33,426 $ 36,167 $ 38,966 Cash and supplemental noncash amounts were as follows: Fiscal Year Ended December 25, 2024 December 27, 2023 December 28, 2022 (In thousands) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from finance leases $ 1,990 $ 2,139 $ 2,350 Operating cash flows from operating leases $ 23,055 $ 24,310 $ 24,626 Financing cash flows from finance leases $ 1,411 $ 1,786 $ 2,020 Right-of-use assets obtained in exchange for new finance lease liabilities $ 1,783 $ 1,071 $ 537 Right-of-use assets obtained in exchange for new operating lease liabilities (1) $ 25,283 $ 7,047 $ 16,040 (1) Right-of-use assets obtained in 2022 includes $7.9 million from the acquisition of Keke’s. See Note 3. Maturities of lease liabilities and receipts as of December 25, 2024 were as follows: Lease Liabilities Lease Receipts Finance Operating Operating (In thousands) 2025 $ 3,077 $ 23,243 $ 23,271 2026 2,985 23,114 22,962 2027 2,639 21,328 21,413 2028 1,953 19,479 19,691 2029 1,751 17,954 19,034 Thereafter 9,806 74,758 96,131 Total undiscounted cash flows 22,211 179,876 $ 202,502 Less: interest 11,643 43,548 Present value of lease liabilities 10,568 136,328 Less: current lease liabilities 1,284 15,487 Long-term lease liabilities $ 9,284 $ 120,841
Leases	Leases Lessee Our operations utilize property, facilities and equipment leased from others. Buildings and facilities are primarily used for restaurants and support facilities. Many of our restaurants are operated under lease arrangements which generally provide for a fixed base rent, and, in many instances, contingent rent based on a percentage of gross revenues. Initial terms of land and restaurant building leases generally range from 10 to 20 years, exclusive of options to renew, which are typically for five year periods. Leases of equipment consist primarily of restaurant equipment, computer equipment and vehicles. Initial terms of equipment leases generally range from three Lessor We lease or sublease certain restaurant properties to our franchisees and occasionally to third parties. The lease descriptions, terms, variable lease payments and renewal options are generally the same as the lessee leases described above. The components of lease costs were as follows: Fiscal Year Ended Classification December 25, 2024 December 27, 2023 December 28, 2022 (In thousands) Lease costs Finance lease costs: Amortization of right-of-use assets Depreciation and amortization $ 1,350 $ 1,451 $ 1,704 Interest on lease liabilities Interest expense, net 1,990 2,139 2,350 Operating lease costs: Operating lease costs Occupancy 8,828 8,584 7,624 Operating lease costs Costs of franchise and license revenue 12,702 14,022 15,541 Operating lease costs General and administrative expenses 739 629 564 Operating lease costs Other operating expenses 459 257 — Operating lease costs Restructuring charges and exit costs 125 175 201 Variable lease costs: Variable lease costs Occupancy 4,716 4,789 3,988 Variable lease costs Costs of franchise and license revenue 5,979 6,232 6,596 Variable lease costs General and administrative expenses 333 271 255 Variable lease costs Other operating expenses 6 14 — Variable lease costs Restructuring charges and exit costs 65 46 34 Sublease income: Sublease income Franchise and license revenue (22,817) (24,966) (27,445) Sublease income Restructuring charges and exit costs (192) (166) (229) Total lease costs $ 14,283 $ 13,477 $ 11,183 Lease terms and discount rates were as follows: December 25, 2024 December 27, 2023 Weighted-average remaining lease term (in years): Finance leases 8.7 8.0 Operating leases 9.0 8.8 Weighted-average discount rate: Finance leases 21.4 % 23.1 % Operating leases 6.1 % 6.0 % The components of lease income were as follows: Fiscal Year Ended Classification December 25, 2024 December 27, 2023 December 28, 2022 (In thousands) Lease income Operating lease income Franchise and license revenue $ 24,269 $ 26,353 $ 28,473 Operating lease income Restructuring charges and exit costs 130 119 183 Operating lease income General and administrative expenses 71 118 140 Variable lease income Franchise and license revenue 8,895 9,530 10,124 Variable lease income Restructuring charges and exit costs 61 47 46 Total lease income $ 33,426 $ 36,167 $ 38,966 Cash and supplemental noncash amounts were as follows: Fiscal Year Ended December 25, 2024 December 27, 2023 December 28, 2022 (In thousands) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from finance leases $ 1,990 $ 2,139 $ 2,350 Operating cash flows from operating leases $ 23,055 $ 24,310 $ 24,626 Financing cash flows from finance leases $ 1,411 $ 1,786 $ 2,020 Right-of-use assets obtained in exchange for new finance lease liabilities $ 1,783 $ 1,071 $ 537 Right-of-use assets obtained in exchange for new operating lease liabilities (1) $ 25,283 $ 7,047 $ 16,040 (1) Right-of-use assets obtained in 2022 includes $7.9 million from the acquisition of Keke’s. See Note 3. Maturities of lease liabilities and receipts as of December 25, 2024 were as follows: Lease Liabilities Lease Receipts Finance Operating Operating (In thousands) 2025 $ 3,077 $ 23,243 $ 23,271 2026 2,985 23,114 22,962 2027 2,639 21,328 21,413 2028 1,953 19,479 19,691 2029 1,751 17,954 19,034 Thereafter 9,806 74,758 96,131 Total undiscounted cash flows 22,211 179,876 $ 202,502 Less: interest 11,643 43,548 Present value of lease liabilities 10,568 136,328 Less: current lease liabilities 1,284 15,487 Long-term lease liabilities $ 9,284 $ 120,841
Leases	Leases Lessee Our operations utilize property, facilities and equipment leased from others. Buildings and facilities are primarily used for restaurants and support facilities. Many of our restaurants are operated under lease arrangements which generally provide for a fixed base rent, and, in many instances, contingent rent based on a percentage of gross revenues. Initial terms of land and restaurant building leases generally range from 10 to 20 years, exclusive of options to renew, which are typically for five year periods. Leases of equipment consist primarily of restaurant equipment, computer equipment and vehicles. Initial terms of equipment leases generally range from three Lessor We lease or sublease certain restaurant properties to our franchisees and occasionally to third parties. The lease descriptions, terms, variable lease payments and renewal options are generally the same as the lessee leases described above. The components of lease costs were as follows: Fiscal Year Ended Classification December 25, 2024 December 27, 2023 December 28, 2022 (In thousands) Lease costs Finance lease costs: Amortization of right-of-use assets Depreciation and amortization $ 1,350 $ 1,451 $ 1,704 Interest on lease liabilities Interest expense, net 1,990 2,139 2,350 Operating lease costs: Operating lease costs Occupancy 8,828 8,584 7,624 Operating lease costs Costs of franchise and license revenue 12,702 14,022 15,541 Operating lease costs General and administrative expenses 739 629 564 Operating lease costs Other operating expenses 459 257 — Operating lease costs Restructuring charges and exit costs 125 175 201 Variable lease costs: Variable lease costs Occupancy 4,716 4,789 3,988 Variable lease costs Costs of franchise and license revenue 5,979 6,232 6,596 Variable lease costs General and administrative expenses 333 271 255 Variable lease costs Other operating expenses 6 14 — Variable lease costs Restructuring charges and exit costs 65 46 34 Sublease income: Sublease income Franchise and license revenue (22,817) (24,966) (27,445) Sublease income Restructuring charges and exit costs (192) (166) (229) Total lease costs $ 14,283 $ 13,477 $ 11,183 Lease terms and discount rates were as follows: December 25, 2024 December 27, 2023 Weighted-average remaining lease term (in years): Finance leases 8.7 8.0 Operating leases 9.0 8.8 Weighted-average discount rate: Finance leases 21.4 % 23.1 % Operating leases 6.1 % 6.0 % The components of lease income were as follows: Fiscal Year Ended Classification December 25, 2024 December 27, 2023 December 28, 2022 (In thousands) Lease income Operating lease income Franchise and license revenue $ 24,269 $ 26,353 $ 28,473 Operating lease income Restructuring charges and exit costs 130 119 183 Operating lease income General and administrative expenses 71 118 140 Variable lease income Franchise and license revenue 8,895 9,530 10,124 Variable lease income Restructuring charges and exit costs 61 47 46 Total lease income $ 33,426 $ 36,167 $ 38,966 Cash and supplemental noncash amounts were as follows: Fiscal Year Ended December 25, 2024 December 27, 2023 December 28, 2022 (In thousands) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from finance leases $ 1,990 $ 2,139 $ 2,350 Operating cash flows from operating leases $ 23,055 $ 24,310 $ 24,626 Financing cash flows from finance leases $ 1,411 $ 1,786 $ 2,020 Right-of-use assets obtained in exchange for new finance lease liabilities $ 1,783 $ 1,071 $ 537 Right-of-use assets obtained in exchange for new operating lease liabilities (1) $ 25,283 $ 7,047 $ 16,040 (1) Right-of-use assets obtained in 2022 includes $7.9 million from the acquisition of Keke’s. See Note 3. Maturities of lease liabilities and receipts as of December 25, 2024 were as follows: Lease Liabilities Lease Receipts Finance Operating Operating (In thousands) 2025 $ 3,077 $ 23,243 $ 23,271 2026 2,985 23,114 22,962 2027 2,639 21,328 21,413 2028 1,953 19,479 19,691 2029 1,751 17,954 19,034 Thereafter 9,806 74,758 96,131 Total undiscounted cash flows 22,211 179,876 $ 202,502 Less: interest 11,643 43,548 Present value of lease liabilities 10,568 136,328 Less: current lease liabilities 1,284 15,487 Long-term lease liabilities $ 9,284 $ 120,841

Long-Term Debt

Long-Term Debt	12 Months Ended
	Dec. 25, 2024
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt Long-term debt consisted of the following: December 25, 2024 December 27, 2023 (In thousands) Revolving loans $ 261,300 $ 255,500 Finance lease obligations 10,568 10,533 Total long-term debt 271,868 266,033 Less current maturities of finance lease obligations 1,284 1,383 Noncurrent portion of long-term debt $ 270,584 $ 264,650 There are no scheduled maturities of our revolving loans due in 2025. The $261.3 million of revolving loans are due August 26, 2026. 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 revolver 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 contains certain financial covenants, including a maximum consolidated leverage ratio of 4.0 times and a minimum consolidated fixed charge coverage ratio of 1.5 times. As of December 25, 2024, our consolidated leverage ratio was 3.85 times and our consolidated fixed charge coverage ratio was 2.18 times. We were in compliance with all financial covenants as of December 25, 2024, and we expect to remain in compliance throughout 2025. As of December 25, 2024, we had outstanding revolver loans of $261.3 million and outstanding letters of credit under the credit facility of $16.1 million. These balances resulted in unused commitments of $122.6 million as of December 25, 2024 under the credit facility. As of December 25, 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 6.98% and 7.41% as of December 25, 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 5.01% and 5.04% as of December 25, 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 December 25, 2024 is as follows: Trade Date Effective Date Maturity Date Notional Amount Fair Value Fixed Rate (In thousands) Swaps designated as March 20, 2015 March 29, 2018 March 31, 2025 $ 120,000 $ 618 2.34 % October 1, 2015 March 29, 2018 March 31, 2026 $ 50,000 $ 1,087 2.37 % February 15, 2018 March 31, 2020 December 31, 2033 $ 68,000 (1) $ 19,136 3.09 % Total $ 238,000 $ 20,841 (1) The notional amounts of the swaps entered into on February 15, 2018 will increase by $120 million on March 31, 2025 when the swaps entered into on March 20, 2015 expire and will 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. As a result, we expect our total swaps to approximate 80% of our outstanding debt prospectively. 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 year ended December 27, 2023. In addition, during the year ended December 27, 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 December 25, 2024, the fair value of swaps designated as cash flow hedges was an asset of $20.8 million and was 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 17 for the amounts recorded in accumulated other comprehensive loss related to the interest rate swaps. During the year ended December 25, 2024, we reclassified $5.9 million from accumulated other comprehensive loss, net as a reduction to interest expense, net. We expect to reclassify approximately $4.5 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 twelve 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 expense (income), net in our Consolidated Statements of Income. For the year ended December 27, 2023, we recorded expense of $10.6 million, and for the year ended December 28, 2022, we recorded income of $55.0 million, respectively, 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

Revenues

Revenues	12 Months Ended
	Dec. 25, 2024
Revenue from Contract with Customer [Abstract]
Revenues	Revenues The following table disaggregates our revenue by sales channel and type of good or service: Fiscal Year Ended December 25, 2024 December 27, 2023 December 28, 2022 (In thousands) Company restaurant sales $ 211,781 $ 215,532 $ 199,753 Franchise and license revenue: Royalties 118,705 120,131 113,891 Advertising revenue 79,973 78,494 75,926 Initial and other fees 8,711 13,882 28,262 Occupancy revenue 33,164 35,883 38,597 Franchise and license revenue 240,553 248,390 256,676 Total operating revenue $ 452,334 $ 463,922 $ 456,429 Balances related to contracts with customers consist of receivables, contract assets, deferred franchise revenue and deferred gift card revenue. See Note 4 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 1,080 Revenue recognized, net (1) (3,262) Balance, December 25, 2024 16,968 Less current portion included in other current liabilities 2,073 Deferred franchise revenue included in other noncurrent liabilities $ 14,895 (1) Of this amount $2.8 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 1,417 Contract asset amortization (1,319) Balance, December 25, 2024 6,706 Less current portion included in other current assets 976 Contract assets included in other noncurrent assets $ 5,730 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 $0.7 million, $4.8 million and $19.3 million of revenue related to the sale of equipment to franchisees during the years ended December 25, 2024, December 27, 2023 and December 28, 2022, respectively. As of December 25, 2024, we had $0.2 million in inventory and $0.4 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 December 25, 2024, deferred franchise revenue, net of contract asset amortization, expected to be recognized in the future is as follows: (In thousands) 2025 $ 1,097 2026 1,072 2027 1,041 2028 917 2029 813 Thereafter 5,322 Deferred franchise revenue, net $ 10,262 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 customers. The balance of deferred gift card liabilities as of December 25, 2024 and December 27, 2023 was $8.4 million and $7.8 million, respectively. During the year ended December 25, 2024, we recognized revenue of $0.6 million from gift card redemptions at company restaurants.

Employee Benefit Plans

Employee Benefit Plans	12 Months Ended
	Dec. 25, 2024
Retirement Benefits [Abstract]
Employee Benefit Plans	Employee Benefit Plans We maintain defined contribution plans and defined benefit plans which cover a substantial number of employees. Defined Contribution Plans Eligible employees can elect to contribute up to 25% of their compensation to our 401(k) plan. Effective January 1, 2016, the plan was amended and restated to incorporate Safe Harbor Plan design features which included changes to participant eligibility, company contribution amounts and vesting. As a result, we match up to a maximum of 4% of compensation deferred by the participant. In addition, a non-qualified deferred compensation plan is offered to certain employees. This plan allows participants to defer up to 50% of annual salary and up to 75% of bonuses and incentive compensation awards, on a pre-tax basis. There are no matching contributions made under this plan. We made total contributions of $2.0 million, $1.8 million and $1.7 million for 2024, 2023 and 2022, respectively, under these plans. Defined Benefit Plans Benefits under our defined benefit plans are based upon each employee’s years of service and average salary. The following table provides a reconciliation of the changes in the benefit obligations, plan assets, and funded status of our defined benefit plans: December 25, 2024 December 27, 2023 (In thousands) Change in Benefit Obligation: Benefit obligation at beginning of year $ 1,078 $ 1,606 Interest cost 31 53 Actuarial gain (83) (29) Benefits paid (106) (131) Settlements (430) (421) Benefit obligation at end of year $ 490 $ 1,078 Accumulated benefit obligation $ 490 $ 1,078 Change in Plan Assets: Fair value of plan assets at beginning of year $ — $ — Employer contributions 536 552 Benefits paid (106) (131) Settlements (430) (421) Fair value of plan assets at end of year $ — $ — Unfunded status at end of year $ (490) $ (1,078) Amounts recognized on the balance sheet: Other current liabilities $ (105) $ (582) Other noncurrent liabilities (385) (496) Net amount recognized $ (490) $ (1,078) Amounts in accumulated other comprehensive loss not yet reflected in net period benefit cost: Unamortized actuarial losses, net $ (277) $ (449) Other changes in plan assets and benefit obligations recognized in accumulated other comprehensive loss, net: Benefit obligation actuarial gain (loss) $ 83 $ (98) Amortization of net loss 63 56 Settlement loss recognized 26 35 Plan closure loss — 74 Other comprehensive income $ 172 $ 67 The components of net periodic benefit cost, which are included in general and administrative expenses Fiscal Year Ended December 25, 2024 December 27, 2023 December 28, 2022 (In thousands) Interest cost $ 31 $ 53 $ 36 Amortization of net loss 63 56 123 Settlement loss recognized 26 35 74 Plan experience gain — (53) — Net periodic benefit cost $ 120 $ 91 $ 233 Assumptions The discount rates used to determine the benefit obligations as of December 25, 2024 and December 27, 2023 were 5.08% and 4.93%, respectively. The discount rates used to determine net period pension costs for 2024, 2023 and 2022 were 4.93%, 5.26% and 1.99%, respectively. In determining the discount rates, we have considered long-term bond indices of bonds having similar timing and amounts of cash flows as our estimated defined benefit payments. We use a yield curve based on high quality, long-term corporate bonds to calculate the single equivalent discount rate that results in the same present value as the sum of each of the plan’s estimated benefit payments discounted at their respective spot rates. Contributions and Expected Future Benefit Payments We made contributions of $0.5 million and $0.6 million to our defined benefit plans during the years ended December 25, 2024 and December 27, 2023, respectively. We expect to contribute $0.1 million to our defined benefit plans during 2025. Benefits expected to be paid for each of the next five years and in the aggregate for the five fiscal years from 2030 through 2034 are as follows: Defined Benefit Plans (In thousands) 2025 $ 105 2026 107 2027 78 2028 67 2029 117 2030 though 2034 116

Share-Based Compensation

Share-Based Compensation	12 Months Ended
	Dec. 25, 2024
Share-Based Payment Arrangement [Abstract]
Share-Based Compensation	Share-Based Compensation Share-Based Compensation Plans The Denny’s Corporation 2021 Omnibus Incentive Plan (the “2021 Omnibus Plan”) is used to grant share-based compensation to selected employees, officers and directors of Denny’s and its affiliates. However, we reserve the right to pay discretionary bonuses, or other types of compensation, outside of this plan. At December 25, 2024, there were 0.9 million shares available for grant under the 2021 Omnibus Plan. Share-Based Compensation Expense Total share-based compensation expense included as a component of net income was as follows: Fiscal Year Ended December 25, 2024 December 27, 2023 December 28, 2022 (In thousands) Employee share awards $ 9,792 $ 7,991 $ 10,470 Restricted stock units for board members 886 889 930 Total share-based compensation $ 10,678 $ 8,880 $ 11,400 The income tax benefits recognized as a component of the provision for income taxes in our Consolidated Statements of Income related to share-based compensation expense were $2.8 million, $2.3 million and $2.9 million during the years ended December 25, 2024, December 27, 2023 and December 28, 2022, respectively. Employee Share Awards Employee share awards consist of performance share units (“PSUs”) and restricted stock units ("RSUs") (which are equity classified). The number of shares that are ultimately issued is dependent upon the level of obtainment of the market and performance conditions. The following table summarizes the employee share awards activity during the year ended December 25, 2024: Units Weighted Average Grant Date (In thousands) Outstanding, beginning of year 1,990 $ 15.90 Granted 1,432 $ 12.55 Converted (524) $ 17.57 Performance shares adjustment (478) $ 18.35 Forfeited (307) $ 13.59 Outstanding, end of year 2,113 $ 13.00 Convertible, end of year 461 $ 11.76 During the year ended December 25, 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 percentage will be applied to the vested units (from 0% to 200% of the target award). We also granted certain employees 0.8 million restricted stock units (“RSUs”) with a weighted average grant date fair value of $10.13 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. For 2024, 2023 and 2022, the weighted average grant date fair value of awards granted was $12.55, $13.43 and $16.22, respectively. The following table presents the weighted-average assumptions used in the Monte Carlo simulations to determine the fair value of PSU awards at the grant date, along with the related weighted-average grant date fair value of PSU awards: December 25, 2024 December 27, 2023 December 28, 2022 Risk-free interest rate 4.14% 3.75% 1.96% Expected term (in years) 3.0 3.0 2.8 Expected volatility 39.2% 69.7% 66.0% Expected dividend yield 0.0% 0.0% 0.0% Grant date fair value per unit $15.48 $18.39 $21.05 The risk-free interest rate was based on U.S. Treasury bond yield with a term equal to the expected life assumed at the date of grant. The expected term represents the period of time the awards are expected to be outstanding. Expected volatility was based on historical volatility of the Company. The expected dividend yield is based on the Company’s history and expectations of dividend payouts at the time of grant. We made payments of $0.3 million, $0.1 million and $0.4 million during 2024, 2023 and 2022, respectively, related to converted performance and restricted share units. Payments relate to the payment of payroll taxes. The fair value of units converted was $5.7 million, $8.6 million and $13.8 million during 2024, 2023 and 2022, respectively. As of December 25, 2024, we had $13.9 million of unrecognized compensation cost related to unvested employee share awards, which is expected to be recognized over a weighted average of 1.8 years. Restricted Stock Units for Board Members During the year ended December 25, 2024, we granted 0.1 million RSUs (which are equity classified) with a weighted average grant date fair value of $8.09 per unit to non-employee members of our Board of Directors. The RSUs vest after a one-year service period. A director may elect to convert these awards into shares of common stock on a specific date in the future (while still serving as a member of our Board of Directors), upon termination as a member of our Board of Directors, or in three equal annual installments commencing after termination of service as a member of our Board of Directors. During the year ended December 25, 2024, 0.1 million restricted stock units were converted into shares of common stock.

Operating (Gains), Losses and O

Operating (Gains), Losses and Other Charges, Net	12 Months Ended
	Dec. 25, 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 consists of the following: Fiscal Year Ended December 25, 2024 December 27, 2023 December 28, 2022 (In thousands) Gains on sales of assets and other, net $ (137) $ (2,220) $ (3,378) Impairment charges (1) 792 2,214 963 Restructuring charges and exit costs 1,319 2,536 1,410 Operating (gains), losses and other charges, net $ 1,974 $ 2,530 $ (1,005) (1) Impairment charges include impairments related to property, operating lease right-of-use assets, finance lease right-of-use assets, franchise agreements, and reacquired franchise rights. Gains on sales of assets and other, net for the years ended December 25, 2024, December 27, 2023, and December 28, 2022, were primarily related to the sales of restaurants and real estate. We recorded impairment charges of $0.8 million for the year ended December 25, 2024 primarily related to assets held for sale and resulting from our assessments of underperforming and closed units. The $0.8 million included $0.6 million related to property, $0.1 million related to reacquired franchise rights, and $0.1 million related to a franchise agreement. We recorded impairment charges of $2.2 million for the year ended December 27, 2023 primarily resulting from underperforming units. The $2.2 million included $1.3 million related to property and $0.9 million related to operating lease right-of-use assets, less than $0.1 million related to finance lease right-of-use assets, and less than $0.1 million related to reacquired franchise rights. We recorded impairment charges of $1.0 million for the year ended December 28, 2022 primarily resulting from underperforming units. The $1.0 million included $0.6 million related to property, $0.3 million related to operating lease right-of-use assets, and less than $0.1 million related to finance lease right-of-use assets. Restructuring charges and exit costs consists of the following: Fiscal Year Ended December 25, 2024 December 27, 2023 December 28, 2022 (In thousands) Exit costs $ 307 $ 190 $ 86 Severance and other restructuring charges 1,012 2,346 1,324 Total restructuring charges and exit costs $ 1,319 $ 2,536 $ 1,410 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. See Note 9. Severance and other restructuring charges primarily consist of severance costs for the years ended December 25, 2024, December 27, 2023, and December 28, 2022. As of December 25, 2024 and December 27, 2023, we had accrued severance and other restructuring charges of $0.3 million and $1.4 million, respectively. The balance as of December 25, 2024 is expected to be paid during the next 12 months.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 25, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The provisions for (benefits from) income taxes were as follows: Fiscal Year Ended December 25, 2024 December 27, 2023 December 28, 2022 (In thousands) Current: Federal $ 4,925 $ 4,649 $ 6,128 State and local 1,078 2,409 2,160 Foreign 1,478 1,433 1,152 Deferred: Federal (1,079) (1,876) 11,043 State and local 812 173 3,689 Increase (decrease) of valuation allowance 464 205 546 Total provision for income taxes $ 7,678 $ 6,993 $ 24,718 The reconciliation of income taxes at the U.S. federal statutory tax rate to our effective tax rate was as follows: December 25, 2024 December 27, 2023 December 28, 2022 Statutory provision rate 21 % 21 % 21 % State and local taxes, net of federal income tax benefit 7 6 5 Foreign taxes 5 5 1 Change in state valuation allowance 2 1 — General business credits generated (6) (5) (1) Foreign tax credits generated (5) (5) (1) Section 162(m) and share-based compensation 6 7 — Insurance premiums (2) (2) — Other (2) (2) — Effective tax rate 26 % 26 % 25 % For 2024, the difference in the overall effective rate from the U.S. statutory rate was primarily due to state and foreign taxes, partially offset by the generation of employment and foreign tax credits. The 2024 rate was also impacted by $1.8 million of disallowed compensation deductions. For 2023, the difference in the overall effective rate from the U.S. statutory rate was primarily due to state and foreign taxes, partially offset by the generation of employment and foreign tax credits. The 2023 rate was also impacted by $1.9 million of disallowed compensation deductions. For 2022, the difference in the overall effective rate from the U.S. statutory rate was primarily due to state and foreign taxes, partially offset by the generation of employment and foreign tax credits. The following table represents the approximate tax effect of each significant type of temporary difference that resulted in deferred income tax assets or liabilities. December 25, 2024 December 27, 2023 (In thousands) Deferred tax assets: Self-insurance accruals $ 2,398 $ 2,536 Finance lease liabilities 1,102 1,119 Operating lease liabilities 34,468 30,445 Accrued exit costs — 5 Pension, other retirement and compensation plans 5,922 7,127 Deferred income 3,868 4,617 Other accruals 1,824 478 General business and foreign tax credit carryforwards - state and federal 3,612 3,472 Net operating loss carryforwards - state 534 848 Total deferred tax assets before valuation allowance 53,728 50,647 Less: valuation allowance (3,407) (2,943) Total deferred tax assets 50,321 47,704 Deferred tax liabilities: Intangible assets (16,140) (15,044) Contract assets (1,212) (1,460) Deferred finance costs — (181) Operating lease right-of-use assets (31,544) (27,307) Fixed assets (6,135) (8,074) Interest rate swaps (5,254) (2,220) Total deferred tax liabilities (60,285) (54,286) Net deferred tax liabilities $ (9,964) $ (6,582) The Company’s state net operating loss tax asset of $0.5 million includes $0.3 million related to Louisiana, Pennsylvania, Tennessee and South Carolina. Of the $3.4 million valuation allowance, $0.2 million relates to Pennsylvania and South Carolina net operating loss carryforwards, $1.1 million relates to California enterprise zone credits and $2.1 million relates to foreign tax credit carryforwards, all of which may never be utilized, prior to their expiration. It is more likely than not that we will be able to utilize all of our existing temporary differences and most of our remaining state tax net operating losses and state credit tax carryforwards, net of existing valuation allowance, prior to their expiration. The following table provides a reconciliation of the beginning and ending amount of unrecognized tax benefits: December 25, 2024 December 27, 2023 (In thousands) Balance, beginning of year $ 445 $ 869 Increase (decrease) related to prior year tax positions 13 (424) Balance, end of year $ 458 $ 445 There was less than $0.1 million of interest expense for the year ended December 25, 2024 and no interest expense for the year ended December 27, 2023 associated with unrecognized tax benefits. We file income tax returns in the U.S. federal jurisdictions and various state jurisdictions. With few exceptions, we are no longer subject to U.S. federal, state and local, or non-U.S. income tax examinations by tax authorities for years before 2021. We remain subject to examination for U.S. federal taxes from 2021 onward, and in the following major state jurisdictions: California (2019 onward), Florida (2021 onward) and Texas (2020 onward).

Net Income Per Share

Net Income Per Share	12 Months Ended
	Dec. 25, 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: Fiscal Year Ended December 25, 2024 December 27, 2023 December 28, 2022 (In thousands, except per share amounts) Net income $ 21,571 $ 19,945 $ 74,712 Weighted average shares outstanding - basic 52,499 55,984 60,771 Effect of dilutive share-based compensation awards 115 212 108 Weighted average shares outstanding - diluted 52,614 56,196 60,879 Net income per share - basic $ 0.41 $ 0.36 $ 1.23 Net income per share - diluted $ 0.41 $ 0.35 $ 1.23 Anti-dilutive share-based compensation awards 713 726 709

Shareholders' Equity

Shareholders' Equity	12 Months Ended
	Dec. 25, 2024
Equity [Abstract]
Shareholders' Equity	Shareholders’ Equity Share Repurchases Our credit facility permits the repurchase of Denny’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. The following table summarizes share repurchase activity: Fiscal Year Ended December 25, 2024 December 27, 2023 December 28, 2022 (In thousands) Amount repurchased (1) $ 11,231 $ 52,099 $ 64,884 Total number of shares repurchased 1,349 5,202 6,280 (1) Amount repurchased includes excise taxes of $0.1 million and $0.4 million for the years ended December 25, 2024 and December 27, 2023, respectively. Repurchased shares are included as treasury stock in our Consolidated Balance Sheets and our Consolidated Statements of Shareholders’ Deficit. Retirement of Treasury Stock In the fourth quarter of fiscal 2024, the Board of Directors approved the retirement of 2.0 million shares of treasury stock at a weighted average share price of $8.78, including excise taxes. As of the year ended December 25, 2024, no shares remained in treasury. In the fourth quarter of fiscal 2023, the Board of Directors 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 the year ended December 27, 2023, 0.7 million shares remained in treasury. Accumulated Other Comprehensive Loss The components of the change in accumulated other comprehensive loss were as follows: Pensions Derivatives Accumulated Other Comprehensive Loss (In thousands) Balance as of December 29, 2021 $ (900) $ (53,570) $ (54,470) Benefit obligation actuarial gain 261 — 261 Amortization of net loss (1) 123 — 123 Settlement loss recognized 74 — 74 Changes in the fair value of cash flow derivatives — 13,619 13,619 Reclassification of cash flow derivatives to interest expense, net (2) — 1,310 1,310 Amortization of unrealized losses related to dedesignated derivatives to interest expense, net — 29 29 Income tax expense (113) (3,530) (3,643) Balance as of December 28, 2022 $ (555) $ (42,142) $ (42,697) Benefit obligation actuarial loss (98) — (98) Amortization of net loss (1) 56 — 56 Settlement loss recognized 35 — 35 Plan closure loss 74 — 74 Changes in the fair value of cash flow derivatives — 6,262 6,262 Reclassification of cash flow derivatives to interest expense, net (2) — (5,028) (5,028) Amortization of unrealized losses related to dedesignated derivatives to interest expense, net — 353 353 Income tax benefit (expense) 151 (767) (616) Balance as of December 27, 2023 $ (337) $ (41,322) $ (41,659) Benefit obligation actuarial gain 83 — 83 Amortization of net loss (1) 63 — 63 Settlement loss recognized 26 — 26 Changes in the fair value of cash flow derivatives — 17,869 17,869 Reclassification of cash flow derivatives to interest expense, net (2) — (5,916) (5,916) Amortization of unrealized losses related to dedesignated derivatives to interest expense, net — 760 760 Income tax expense (44) (3,221) (3,265) Balance as of December 25, 2024 $ (209) $ (31,830) $ (32,039) (1) Before-tax amount that was reclassified from accumulated other comprehensive loss and included as a component of pension expense within general and administrative expenses in our Consolidated Statements of Income. See Note 12 for additional details. (2) Amounts reclassified from accumulated other comprehensive loss into income represent payments made to (received from) the counterparty for the effective portions of the interest rate swaps. These amounts are included as a component of interest expense, net in our Consolidated Statements of Income. We expect to receive payments from the counterparty and reclassify $4.5 million from accumulated other comprehensive loss related to our interest rate swaps during the next twelve months. See Note 10 for additional details.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 25, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Legal Proceedings There are various claims and pending legal actions against or indirectly involving us, incidental to and arising out of the ordinary course of the business. In the opinion of management, based upon information currently available, the ultimate liability with respect to these proceedings and claims will not materially affect the Company’s consolidated results of operations or financial position. Purchase Obligations We have commitments related to company and franchised restaurants under purchase contracts for food and non-food products. Many of these agreements do not obligate us to purchase any specific volumes and include provisions that would allow us to cancel such agreements with appropriate notice. Our future purchase obligation payments due by period for both company and franchised restaurants at December 25, 2024 consist of the following: (In thousands) Less than 1 year $ 195,923 1-2 years — 3-4 years — 5 years and thereafter — Total $ 195,923 For agreements with cancellation provisions, the amounts included in the table above represent our estimate of purchase obligations during the periods presented if we were to cancel these contracts with appropriate notice.

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	12 Months Ended
	Dec. 25, 2024
Supplemental Cash Flow Information [Abstract]
Supplemental Cash Flow Information	Supplemental Cash Flow Information Fiscal Year Ended December 25, 2024 December 27, 2023 December 28, 2022 (In thousands) Income taxes paid, net $ 6,178 $ 9,195 $ 9,296 Interest paid $ 16,978 $ 13,390 $ 12,939 Noncash investing and financing activities: Receipt of real estate receivable $ — $ — $ 3,000 Accrued purchase of property $ 2,961 $ 756 $ 283 Issuance of common stock, pursuant to share-based compensation plans $ 3,830 $ 5,638 $ 9,547 Execution of finance leases $ 1,783 $ 1,071 $ 537 Treasury stock payable $ — $ 109 $ 542 Treasury stock excise tax payable $ 73 $ 454 $ —

Segment Information

Segment Information	12 Months Ended
	Dec. 25, 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 franchise 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 four items: general and administrative expenses, depreciation and amortization, goodwill impairment charges, and operating (gains), losses and other charges, net. The Company excludes general and administrative expenses, which include primarily non restaurant-level costs associated with 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 goodwill impairment charges and operating (gains), losses and other charges, net, to provide a clearer perspective of its ongoing operating performance and a more relevant comparison to prior period results. The Company’s chief operating decision maker (“CODM”) is our Chief Executive Officer. Restaurant-level operating margin is used by our CODM to evaluate restaurant-level operating efficiency and performance and make key operating decisions. The following tables present revenues by segment and a reconciliation of restaurant-level operating margin to net income: Fiscal Year Ended December 25, 2024 Denny’s Other Total Revenues (In thousands) Company restaurant sales $ 193,572 $ 18,209 $ 211,781 Franchise and license revenue: Royalties 113,804 4,901 118,705 Advertising revenue 78,192 1,781 79,973 Initial and other fees 8,351 360 8,711 Occupancy revenue 33,075 89 33,164 Total franchise and license revenue 233,422 7,131 240,553 Total operating revenue 426,994 25,340 452,334 Costs and expenses Costs of company restaurant sales, excluding depreciation and amortization: Product costs 48,976 4,955 53,931 Payroll and benefits 72,828 7,777 80,605 Occupancy costs 15,680 2,449 18,129 Other operating expenses: Utilities 6,404 550 6,954 Repairs and maintenance 3,806 217 4,023 Marketing 7,098 752 7,850 Legal settlements 1,670 30 1,700 Pre-opening costs — 1,548 1,548 Other direct costs 13,267 1,737 15,004 Total costs of company restaurant sales, excluding depreciation and amortization 169,729 20,015 189,744 Costs of franchise and license revenue, excluding depreciation and amortization: Advertising costs 78,192 1,781 79,973 Occupancy costs 20,451 88 20,539 Other direct costs 18,675 1,039 19,714 Total costs of franchise and license revenue, excluding depreciation and amortization 117,318 2,908 120,226 Total restaurant-level operating margin $ 139,947 $ 2,417 $ 142,364 Reconciliation of restaurant-level operating margin to net income General and administrative expenses $ 80,197 Depreciation and amortization 14,857 Goodwill impairment charges 20 Operating (gains), losses and other charges, net 1,974 Total other operating expenses 97,048 Operating income 45,316 Interest expense, net 17,974 Other nonoperating income, net (1,907) Net income before income taxes 29,249 Provision for income taxes 7,678 Net income $ 21,571 Fiscal Year Ended December 27, 2023 Denny’s Other Total Revenues (In thousands) Company restaurant sales $ 201,175 $ 14,357 $ 215,532 Franchise and license revenue: Royalties 115,004 5,127 120,131 Advertising revenue 77,932 562 78,494 Initial and other fees 13,112 770 13,882 Occupancy revenue 35,883 — 35,883 Total franchise and license revenue 241,931 6,459 248,390 Total operating revenue 443,106 20,816 463,922 Costs and expenses Costs of company restaurant sales, excluding depreciation and amortization: Product costs 51,939 3,850 55,789 Payroll and benefits 75,407 5,259 80,666 Occupancy costs 14,875 1,934 16,809 Other operating expenses: Utilities 7,418 430 7,848 Repairs and maintenance 3,486 175 3,661 Marketing 5,524 79 5,603 Legal settlements 2,302 — 2,302 Pre-opening costs — 288 288 Other direct costs 13,452 1,181 14,633 Total costs of company restaurant sales, excluding depreciation and amortization 174,403 13,196 187,599 Costs of franchise and license revenue, excluding depreciation and amortization: Advertising costs 77,932 562 78,494 Occupancy costs 22,160 — 22,160 Other direct costs 21,778 20 21,798 Total costs of franchise and license revenue, excluding depreciation and amortization 121,870 582 122,452 Total restaurant-level operating margin $ 146,833 $ 7,038 $ 153,871 Reconciliation of restaurant-level operating margin to net income General and administrative expenses $ 77,770 Depreciation and amortization 14,385 Goodwill impairment charges 6,363 Operating (gains), losses and other charges, net 2,530 Total other operating expenses 101,048 Operating income 52,823 Interest expense, net 17,597 Other nonoperating expense, net 8,288 Net income before income taxes 26,938 Provision for income taxes 6,993 Net income $ 19,945 Fiscal Year Ended December 28, 2022 Denny’s Other Total Revenues (In thousands) Company restaurant sales $ 193,576 $ 6,177 $ 199,753 Franchise and license revenue: Royalties 111,718 2,173 113,891 Advertising revenue 75,926 — 75,926 Initial and other fees 27,870 392 28,262 Occupancy revenue 38,597 — 38,597 Total franchise and license revenue 254,111 2,565 256,676 Total operating revenue 447,687 8,742 456,429 Costs and expenses Costs of company restaurant sales, excluding depreciation and amortization: Product costs 51,705 1,912 53,617 Payroll and benefits 74,157 2,255 76,412 Occupancy costs 14,310 844 15,154 Other operating expenses Utilities 7,075 198 7,273 Repairs and maintenance 3,803 71 3,874 Marketing 5,294 — 5,294 Legal settlements 4,224 — 4,224 Other direct costs 13,243 367 13,610 Total costs of company restaurant sales, excluding depreciation and amortization 173,811 5,647 179,458 Costs of franchise and license revenue, excluding depreciation and amortization: Advertising costs 75,926 — 75,926 Occupancy costs 24,090 — 24,090 Other direct costs 35,305 6 35,311 Total costs of franchise and license revenue, excluding depreciation and amortization 135,321 6 135,327 Total restaurant-level operating margin $ 138,555 $ 3,089 $ 141,644 Reconciliation of restaurant-level operating margin to net income General and administrative expenses $ 67,173 Depreciation and amortization 14,862 Operating (gains), losses and other charges, net (1,005) Total other operating expenses 81,030 Operating income 60,614 Interest expense, net 13,769 Other nonoperating expense (income), net (52,585) Net income before income taxes 99,430 Provision for income taxes 24,718 Net income $ 74,712 Fiscal Year Ended December 25, 2024 December 27, 2023 Segment assets: (In thousands) Denny’s $ 344,986 $ 340,136 Other 151,288 124,682 Total assets $ 496,274 $ 464,818

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 25, 2024
Subsequent Events [Abstract]
Subsequent Events	Subsequent EventsDuring January 2025, as part of a cost savings initiative, the Company eliminated approximately 40 positions and announced the relocation of certain support functions to our support center in Spartanburg, South Carolina. As a result, the Company expects to record between $3.0 million and $3.5 million in severance and other restructuring charges during the quarter ending March 26, 2025.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
	Dec. 25, 2024	Dec. 27, 2023	Dec. 28, 2022
Pay vs Performance Disclosure
Net income	$ 21,571	$ 19,945	$ 74,712

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Dec. 25, 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

Insider Trading Policies and Pr

Insider Trading Policies and Procedures	12 Months Ended
	Dec. 25, 2024
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

Cybersecurity Risk Management a

Cybersecurity Risk Management and Strategy Disclosure	12 Months Ended
	Dec. 25, 2024
Cybersecurity Risk Management, Strategy, and Governance [Line Items]
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]	Denny’s recognizes that cybersecurity is a critical aspect of our business operations and that the protection of sensitive data and information systems is of paramount importance. We have implemented cybersecurity measures and processes to address and mitigate material risks from cybersecurity threats. On an annual basis, we perform a cybersecurity risk assessment to identify and evaluate risks and potential vulnerabilities that could impact our business. Cybersecurity is also assessed as part of our compliance program. In addition, we have preventative and detective monitoring controls that include robust access controls, privileged access management, vulnerability scanning, penetration testing of our online systems and internal networks, annual employee-wide awareness education, data encryption and incident response plans. These controls help to ensure our cybersecurity program reduces the cyber risk for our environment. We utilize third-party providers and acknowledge that these providers and partners may pose cybersecurity risks. We have implemented due diligence and oversight processes to ensure our third-party providers adhere to our cybersecurity standards when handling our data and accessing our systems. This includes a risk assessment before acceptance as a provider and continued monitoring through our third-party risk management program. Denny’s faces various risks associated with cybersecurity threats that could materially affect our business. In the event of a material cybersecurity incident, we are committed to promptly informing our shareholders, customers, and regulatory authorities, as required by applicable law and regulations.
Cybersecurity Risk Management Processes Integrated [Flag]	true
Cybersecurity Risk Management Processes Integrated [Text Block]	Denny’s recognizes that cybersecurity is a critical aspect of our business operations and that the protection of sensitive data and information systems is of paramount importance. We have implemented cybersecurity measures and processes to address and mitigate material risks from cybersecurity threats. On an annual basis, we perform a cybersecurity risk assessment to identify and evaluate risks and potential vulnerabilities that could impact our business. Cybersecurity is also assessed as part of our compliance program. In addition, we have preventative and detective monitoring controls that include robust access controls, privileged access management, vulnerability scanning, penetration testing of our online systems and internal networks, annual employee-wide awareness education, data encryption and incident response plans. These controls help to ensure our cybersecurity program reduces the cyber risk for our environment.
Cybersecurity Risk Management Third Party Engaged [Flag]	true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag]	true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag]	false
Cybersecurity Risk Board of Directors Oversight [Text Block]	Our Senior Vice President and Chief Technology Officer leads our cybersecurity efforts with periodic updates that include certain metrics, data privacy, and other information technology risks, provided to the Audit and Finance Committee of our Board of Directors.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]	Our Senior Vice President and Chief Technology Officer leads our cybersecurity efforts with periodic updates that include certain metrics, data privacy, and other information technology risks, provided to the Audit and Finance Committee of our Board of Directors. Cybersecurity is a top priority for our Audit and Finance Committee.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]	Our Senior Vice President and Chief Technology Officer leads our cybersecurity efforts with periodic updates that include certain metrics, data privacy, and other information technology risks, provided to the Audit and Finance Committee of our Board of Directors. Cybersecurity is a top priority for our Audit and Finance Committee.
Cybersecurity Risk Role of Management [Text Block]	Our Senior Vice President and Chief Technology Officer leads our cybersecurity efforts with periodic updates that include certain metrics, data privacy, and other information technology risks, provided to the Audit and Finance Committee of our Board of Directors. Cybersecurity is a top priority for our Audit and Finance Committee. In addition, the Company has a Compliance Committee comprised of members of management from our IT Security & Compliance, Legal and Internal Audit teams who work cross-functionally to assess and manage enterprise-wide risks, including cybersecurity. Our Senior Vice President and Chief Technology Officer leads a team of qualified individuals with decades of combined experience in cybersecurity risk management and compliance.
Cybersecurity Risk Management Positions or Committees Responsible [Flag]	true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]	Our Senior Vice President and Chief Technology Officer leads our cybersecurity efforts with periodic updates that include certain metrics, data privacy, and other information technology risks, provided to the Audit and Finance Committee of our Board of Directors.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block]	Our Senior Vice President and Chief Technology Officer leads a team of qualified individuals with decades of combined experience in cybersecurity risk management and compliance.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]	Our Senior Vice President and Chief Technology Officer leads our cybersecurity efforts with periodic updates that include certain metrics, data privacy, and other information technology risks, provided to the Audit and Finance Committee of our Board of Directors. Cybersecurity is a top priority for our Audit and Finance Committee.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag]	true

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 25, 2024
Accounting Policies [Abstract]
Use of Estimates	Use of Estimates . In preparing our consolidated financial statements in conformity with U.S. generally accepted accounting principles (GAAP), management is required to make certain assumptions and estimates that affect reported amounts of assets, liabilities, revenues, expenses and the disclosure of contingencies. In making these assumptions and estimates, management may from time to time seek advice and consider information provided by actuaries and other experts in a particular area. Actual amounts could differ materially from these estimates.
Consolidation Policy	Consolidation Policy . Our consolidated financial statements include the financial statements of Denny’s Corporation and its wholly-owned subsidiaries: Denny’s, Inc., DFO, LLC, Denny’s Realty, LLC, Keke’s Inc., Keke’s Franchise Organization and East Main Insurance Company. All significant intercompany balances and transactions have been eliminated in consolidation.
Fiscal Year	Fiscal Year .
Cash and Cash Equivalents	Cash and Cash Equivalents.
Receivables	Receivables.
Inventories	Inventories. Inventories consist primarily of food, beverages and, in some periods, equipment and are valued at the lower of first-in, first-out cost or net realizable value.
Property and Depreciation	Property and Depreciation. Owned property is stated at cost. Property under finance leases is stated at the lesser of its fair value or the net present value of the related minimum lease payments at the lease inception. Maintenance and repairs are expensed as incurred. We depreciate owned property over its estimated useful life using the straight-line method. We amortize property held under finance leases (at capitalized value) over the lesser of its estimated useful life or the lease term. Building assets are assigned estimated useful lives that range from five two five
Goodwill	Goodwill. Amounts recorded as goodwill primarily represent excess reorganization value recognized as a result of our 1998 bankruptcy and from our acquisition of Keke’s in 2022. We also record goodwill in connection with the acquisition of restaurants from franchisees. Likewise, upon the sale of restaurant operations to franchisees, goodwill is decremented. We test goodwill for impairment at each fiscal year end and more frequently if circumstances indicate impairment may exist. Such indicators include, but are not limited to, a significant decline in our expected future cash flows, a significant adverse decline in our stock price, significantly adverse legal developments or a significant change in the business climate.
Intangible Assets	Intangible Assets . Intangible assets consist primarily of trade names, franchise agreements and reacquired franchise rights. Trade names are considered indefinite-lived intangible assets and are not amortized. Franchise agreements are amortized using the straight-line basis over the term of the related franchise agreement. Reacquired franchise rights are amortized using the straight-line basis over the term of the related franchise agreement. Franchise agreements and reacquired franchise rights resulting from acquisitions are accounted for using the purchase method of accounting and are estimated by management based on the fair value of the assets received. We test trade name assets for impairment at each fiscal year end, and more frequently if circumstances indicate impairment may exist. We assess impairment of reacquired franchise rights and franchise agreements whenever changes or events indicate that the carrying values may not be recoverable. Costs incurred to renew or extend the term of recognized intangible assets are recorded in general and administrative expenses in our Consolidated Statements of Income.
Marketable Securities	Marketable Securities. Marketable securities included in other noncurrent assets consist of trading debt and equity mutual funds and are recorded at fair market value in our Consolidated Balance Sheets. These securities represent the plan assets of our nonqualified deferred compensation plan (the “plan assets”). The plan assets are held in a rabbi trust. Each plan participant’s account consists of their contribution, our matching contribution (made prior to 2016) and each participant’s share of earnings or losses in the plan. We have recorded offsetting deferred compensation liabilities as a component of other noncurrent liabilities in our Consolidated Balance Sheets.
Deferred Financing Costs	Deferred Financing Costs. Costs related to the issuance of debt are deferred and amortized as a component of interest expense using the effective interest method over the terms of the respective debt issuances.
Self-insurance Liabilities	Self-insurance Liabilities. We record liabilities for insurance claims during periods in which we have been insured under large deductible programs or have been self-insured for our medical claims and workers’ compensation, general, product and automobile insurance liabilities. The liabilities represent estimated incurred losses. These estimates include assumptions regarding claims frequency and severity as well as changes in our business environment, medical costs and the regulatory environment that could impact our overall self-insurance costs.
Income Taxes	Income Taxes. We account for income taxes under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. All deferred taxes are reported as noncurrent in our Consolidated Balance Sheets. A valuation allowance reduces our net deferred tax asset to the amount that is more likely than not to be realized. We make certain estimates and judgments in the calculation of our provision for incomes taxes, in the resulting tax liabilities, and in the recoverability of deferred tax assets.
Leases and Subleases, Lessee	Leases and Subleases. Lessee We lease certain real estate and equipment for our restaurants and support facilities. At contract inception, we determine whether a contract is, or contains, a lease by determining whether it conveys the right to control the use of the identified asset for a period of time. We recognize a lease liability and a right-of-use (“ROU”) asset at the lease commencement date. For operating leases, the lease liability is initially and subsequently measured at the present value of the unpaid lease payments at the lease commencement date. For finance leases, the lease liability is initially measured in the same manner and date as for operating leases, and is subsequently measured at amortized cost using the effective interest method. Operating lease ROU assets are initially and subsequently measured throughout the lease term at the carrying amount of the lease liability adjusted for initial direct costs, prepayments, accrued payments and lease incentives, if any. Lease cost is recognized on a straight-line basis over the lease term. Operating lease payments are classified as cash flows for operating activities with ROU asset amortization and the change in the lease liability combined as "Operating lease assets/liabilities" in the reconciliation of net income to net cash flows provided by operating activities in the Consolidated Statement of Cash Flows. Finance lease ROU assets are initially measured at cost and subsequently amortized on a straight-line basis over the lesser of the useful life or the lease term. Finance lease principal payments are classified as cash flows used in financing activities in the Consolidated Statement of Cash Flows. Operating and finance lease ROU assets are assessed for impairment using long-lived assets impairment guidance. We use a consistent lease term for calculating the depreciation period for the related assets, classifying the lease and computing periodic rent expense where the lease terms include escalations in rent over the lease term. The lease guidance provides for certain practical expedients and accounting elections. We elected the practical expedient to not separate nonlease components (such as common area maintenance) from lease components in regard to all leases and the portfolio approach in applying the discount rate to our leases. Key estimates and judgments include how we determine (1) lease payments, (2) lease term and (3) the discount rate used to discount the unpaid lease payments to present value. We have certain lease agreements structured with both a fixed base rent and a contingent rent based on a percentage of sales over contractual levels, others with only contingent rent based on a percentage of sales and some with a fixed base rent adjusted periodically for inflation or changes in the fair market rent rate. Contingent rent is recognized as sales occur. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants. The exercise of lease renewal options is at our sole discretion, except in certain sublease situations in which we have determined that it is reasonably certain that one or more options will be exercised, including where the exercise of a sublease option compels us to exercise the renewal option of the underlying master lease. Renewal option periods are included in the measurement of the lease ROU asset and lease liability where the exercise is reasonably certain to occur. The discount rate used to determine the present value of the lease payments is our estimated collateralized incremental borrowing rate, based on the yield curve for the respective lease terms, as we generally cannot determine the interest rate implicit in the lease. Deferrals in rents received from landlords as a result of the COVID-19 pandemic are recognized as reductions in variable lease payments.
Lessor	Lessor
Employee Benefit Plans	Employee Benefit Plans. Each year we measure and recognize the funded status of our defined benefit plans in our Consolidated Balance Sheets as of December 31. That date represents the month-end that is closest to our fiscal year-end. The funded status is adjusted for any contributions or significant events (such as a plan amendment, settlement, or curtailment that calls for a remeasurement) that occurs between our fiscal year-end and December 31.
Derivative Instruments	Derivative Instruments. We use derivative financial instruments to manage our exposure to interest rate risk. We do not enter into derivative instruments for trading or speculative purposes. All derivatives are recognized on our Consolidated Balance Sheets at fair value. Changes in the fair values of derivatives are recorded in earnings or other comprehensive income ( “ OCI ”
Contingencies and Litigation	Contingencies and Litigation. We are subject to legal proceedings involving ordinary and routine claims incidental to our business, as well as legal proceedings that are nonroutine and include compensatory or punitive damage claims. Settlement costs are accrued when they are deemed estimable and probable. Our ultimate legal and financial liability with respect to such matters cannot be estimated with certainty and requires the use of estimates in recording liabilities for potential litigation settlements. When the reasonable estimate is a range, the recorded loss will be the best estimate within the range. We record legal settlement costs as other operating expenses in our Consolidated Statements of Income as those costs are incurred.
Comprehensive Income	Comprehensive Income. Comprehensive income includes net income and OCI items that are excluded from net income under U.S. GAAP. OCI items include additional minimum pension liability adjustments, the effective unrealized portion of changes in the fair value of cash flow hedges, and the reclassification and amortization of loss related to the dedesignation of cash flow derivatives.
Revenues	Revenues. Company Restaurant Revenue. Company restaurant revenue is recognized at the point in time when food and beverage products are sold at company restaurants. We present company restaurant sales net of sales-related taxes collected from customers and remitted to governmental taxing authorities. Franchise Revenue. Franchise and license revenues consist primarily of royalties, advertising revenue, initial and other fees and occupancy revenue. Under franchise agreements we provide franchisees with a license of our respective brands’ symbolic intellectual property, administration of advertising programs (including local co-operatives), and other ongoing support functions. These services are highly interrelated, so we do not consider them to be individually distinct performance obligations, and therefore account for them as a single performance obligation. Royalty and advertising revenues represent sales-based royalties that are recognized in the period in which the sales occur. Sales-based royalties are variable consideration related to our performance obligation to our franchisees to maintain the intellectual property being licensed. Under our franchise agreements, franchisee advertising contributions must be spent on marketing and related activities. Advertising revenues and expenditures are recorded on a gross basis within the Consolidated Statements of Income. Initial and other fees include initial, successor and assignment franchise fees (“initial franchise fees”). Initial franchise fees are billed and received upon the signing of the franchise agreement. Recognition of these fees is deferred until the commencement date of the agreement and occurs over time based on the term of the underlying franchise agreement. Acquired initial franchise fees are recognized from the acquisition date over time based on the term of the underlying franchise agreement. In the event a franchise agreement is terminated, any remaining deferred fees are recognized in the period of termination. Initial and other fees also include revenue that are distinct from the franchise agreement and are separate performance obligations. Training and other franchise services fees are billed and recognized at a point in time as services are rendered. Equipment revenues are billed and recognized as the equipment is installed. Similar to advertising revenue, equipment revenues and other franchise services fees are recorded on a gross basis within the Consolidated Statements of Income. We record contract assets related to incentives and subsidies provided to franchisees related to new unit openings and/or equipment upgrades. These contract assets are presented within prepaid and other current assets and other noncurrent assets in our Consolidated Balance Sheets. These assets are amortized as a reduction to franchise and license revenue within our Consolidated Statements of Income over the remaining term of the underlying franchise agreement. Occupancy revenue results from leasing or subleasing restaurants to franchisees and is recognized over the term of the lease agreement. Gift cards.
Advertising Costs	Advertising Costs .
Restructuring and Exit Costs	Restructuring and Exit Costs. Restructuring and exit costs are included as a component of operating (gains), losses and other charges, net in our Consolidated Statements of Income. Restructuring costs consist primarily of severance and other restructuring charges for terminated employees. Amounts recorded as exit costs include period costs related to closed units.
Disposal or Impairment of Long-lived Assets	Disposal or Impairment of Long-lived Assets. We evaluate our long-lived assets for impairment at the restaurant level on a quarterly basis, when assets are identified as held for sale or whenever changes or events indicate that the carrying value may not be recoverable. For assets identified as held for sale, we use the market approach and consider proceeds from similar asset sales. We assess impairment of restaurant-level assets based on the operating cash flows of the restaurant, expected proceeds from the sale of assets and our plans for restaurant closings. For underperforming assets, we use the income approach to determine both the recoverability and estimated fair value of the assets. To estimate future cash flows, we make certain assumptions about expected future operating performance, such as revenue growth, operating margins, risk-adjusted discount rates, and future economic and market conditions. If the long-lived assets of a restaurant are not recoverable based upon estimated future, undiscounted cash flows, we write the assets down to their fair value. If these estimates or their related assumptions change in the future, we may be required to record additional impairment charges. These charges are included as a component of operating (gains), losses and other charges, net in our Consolidated Statements of Income.
Discontinued Operations	Discontinued Operations. We evaluate restaurant closures and assets reclassified to assets held for sale for potential disclosure as discontinued operations. Only disposals resulting in a strategic shift that will have a major effect on our operations and financial results are reported as discontinued operations. There have been no such disposals, nor any disposals of individually significant components. The gains and losses related to restaurant closures and assets reclassified to assets held for sale are included as a component of operating (gains), losses and other charges, net in our Consolidated Statements of Income.
Gains and Losses on Sales of Restaurants Operations to Franchisees, Real Estate and Other Assets	Gains and Losses on Sales of Restaurant Operations to Franchisees, Real Estate and Other Assets. Generally, gains and losses on sales of restaurant operations to franchisees (which may include real estate), real estate properties and other assets are recognized when the sales are consummated and certain other gain recognition criteria are met. Total gains and losses are included as a component of operating (gains), losses and other charges, net in our Consolidated Statements of Income.
Share-based Compensation	Share-based Compensation. Share-based compensation cost is measured at the grant date, based on the fair value of the award, and is recognized as an expense over the requisite service period. Share-based compensation expense is included as a component of general and administrative expenses in our Consolidated Statements of Income. We account for forfeitures as they occur. Excess tax benefits recognized related to share-based compensation are included as a component of provision for income taxes in our Consolidated Statements of Income and are classified as operating activities in our Consolidated Statements of Cash Flows. Generally, compensation expense related to performance share units and restricted stock units is based on the number of units granted, the period over which they are expected to vest and the fair market value of our common stock on the date of the grant. For restricted stock units and performance share units that contain a market condition, compensation expense is based on the Monte Carlo valuation method, which utilizes multiple input variables to determine the probability of the Company achieving the market condition and the fair value of the award. The key assumptions used include expected volatility and risk-free interest rates over the term of the award. We generally recognize compensation cost associated with performance share units over the entire performance period on a straight-line basis. For performance share units awarded to certain retirement eligible individuals with accelerated vesting terms, compensation cost is recognized on a graded-vesting basis. We generally recognize compensation cost associated restricted stock units on a straight-line basis over the entire performance period of the award. Subsequent to the vesting period, earned stock-settled restricted stock units and performance share units (both of which are equity classified) are paid to the holder in shares of our common stock, provided the holder was still employed with the Company or an affiliate as of the vesting date or eligible for retirement at their termination date.
Earnings Per Share	Earnings Per Share . Basic earnings per share is calculated by dividing net income by the weighted average number of common shares outstanding during the period. Diluted earnings per share is calculated by dividing net income by the weighted average number of common shares and potential common shares outstanding during the period.
Business Combinations	Business Combinations. We account for acquisitions using the acquisition method of accounting. Accordingly, assets acquired and liabilities assumed are recorded at their estimated fair values at the acquisition date. The excess of purchase price over fair value of net assets acquired, including the amount assigned to identifiable intangible assets, is recorded as goodwill.
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. 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). The Company adopted ASU 2023-07 during the year ended December 25, 2024. The adoption of this guidance did not have a material effect on our consolidated financial statements. See Note 20 for further detail. Additional new accounting guidance became effective for us as of December 25, 2024 that we reviewed and concluded was either not applicable to our operations or had no material effect on our consolidated financial statements and related disclosures. Accounting Standards to be Adopted 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. In November 2024, the FASB issued ASU 2024-03, “Disaggregation of Income Statement Expenses (Subtopic 220-40)”. The new guidance requires disaggregation of certain relevant expenses included in the consolidated statements of income. ASU 2024-03 is effective for annual periods beginning after December 15, 2026 (our fiscal 2027) and interim periods beginning after December 15, 2027 (our fiscal 2028). 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.

Acquisition of Keke's Breakfa_2

Acquisition of Keke's Breakfast Cafe (Tables)	12 Months Ended
	Dec. 25, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Schedule of Purchase Price Allocation	The components of the purchase price allocation were as follows: (In thousands) Total consideration paid $ 82,500 Assets: Property 2,015 Operating lease ROU assets 7,908 Franchise agreements 10,700 Trade name 35,600 Liabilities: Operating lease liabilities 7,908 Deferred franchise revenue 992 Other liabilities 36 Net assets acquired, excluding goodwill 47,287 Goodwill $ 35,213

Receivables (Tables)

Receivables (Tables)	12 Months Ended
	Dec. 25, 2024
Receivables [Abstract]
Schedule of Receivables, Net	Receivables, net consisted of the following: December 25, 2024 December 27, 2023 (In thousands) Receivables, net: Trade accounts receivable from franchisees $ 15,798 $ 14,092 Notes and loan receivables from franchisees 490 584 Vendor receivables 3,632 4,059 Credit card receivables 1,815 995 Other 3,140 1,862 Allowance for doubtful accounts (442) (201) Total receivables, net $ 24,433 $ 21,391

Property (Tables)

Property (Tables)	12 Months Ended
	Dec. 25, 2024
Property, Plant and Equipment [Abstract]
Schedule of Property, Net	Property, net consisted of the following: December 25, 2024 December 27, 2023 (In thousands) Land $ 43,196 $ 43,577 Buildings and leasehold improvements 182,560 169,005 Other property and equipment 45,249 40,791 Total property 271,005 253,373 Less accumulated depreciation 159,588 159,879 Property, net $ 111,417 $ 93,494 The following table reflects the property assets, included in the table above, and buildings with finance leases which were leased to franchisees: December 25, 2024 December 27, 2023 (In thousands) Land $ 23,166 $ 23,825 Buildings and leasehold improvements 63,338 66,763 Total property owned, leased to franchisees 86,504 90,588 Less accumulated depreciation 55,699 58,006 Property owned, leased to franchisees, net 30,805 32,582 Buildings held under finance leases, leased to franchisees 5,233 5,505 Less accumulated amortization 3,024 3,218 Property held under finance leases, leased to franchisees, net 2,209 2,287 Total property leased to franchisees, net $ 33,014 $ 34,869

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	12 Months Ended
	Dec. 25, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Changes in Carrying Amounts of Goodwill	The following table reflects the changes in carrying amounts of goodwill and goodwill by segment: December 25, 2024 December 27, 2023 (In thousands) Balance, beginning of year $ 65,908 $ 72,740 Reclassifications from (to) assets held for sale 469 (469) Impairment charges $ (20) $ (6,363) Balance, end of year (1) $ 66,357 $ 65,908 Goodwill by segment Denny’s $ 37,507 $ 37,527 Other 28,850 28,381 Total goodwill $ 66,357 $ 65,908 (1) Net of accumulated impairment losses of $6.4 million.
Schedule of Indefinite-Lived Intangible Assets	Intangible assets consist of the following: December 25, 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 9,135 6,188 9,470 5,614 Franchise agreements 10,603 1,618 10,700 935 Intangible assets, net $ 99,545 $ 7,806 $ 99,977 $ 6,549
Schedule of Finite-Lived Intangible Assets	Intangible assets consist of the following: December 25, 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 9,135 6,188 9,470 5,614 Franchise agreements 10,603 1,618 10,700 935 Intangible assets, net $ 99,545 $ 7,806 $ 99,977 $ 6,549
Schedule of Estimated Amortization Expense for Intangible Assets With Definite Lives	Estimated amortization expense for intangible assets with definite lives in the next five years is as follows: (In thousands) 2025 $ 1,442 2026 1,274 2027 1,235 2028 1,085 2029 1,017

Other Current Liabilities (Tabl

Other Current Liabilities (Tables)	12 Months Ended
	Dec. 25, 2024
Other Liabilities Disclosure [Abstract]
Schedule of Other Current Liabilities	Other current liabilities consisted of the following: December 25, 2024 December 27, 2023 (In thousands) Accrued payroll $ 15,434 $ 16,400 Accrued insurance, primarily current portion of liability for insurance claims 4,494 3,758 Accrued taxes 4,432 4,699 Accrued advertising 11,785 10,664 Gift cards 8,382 7,838 Accrued legal settlements 4,114 7,488 Accrued interest 4,368 4,530 Other 5,833 7,691 Other current liabilities $ 58,842 $ 63,068

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	12 Months Ended
	Dec. 25, 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 December 25, 2024: Deferred compensation plan investments (1) $ 10,400 $ 10,400 $ — $ — Interest rate swaps (2) 20,841 — 20,841 — Investments (3) 1,106 — 1,106 — Total $ 32,347 $ 10,400 $ 21,947 $ — 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 10. (3) The fair value of investments is 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 nonrecurring basis are summarized below: Significant Unobservable Inputs Impairment Charges Fair value measurements as of December 27, 2023: Assets held and used, including other intangible assets (1) $ — $ 375 Goodwill (2) $ 28,381 $ 6,363 (1) As of December 27, 2023, 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. (2) As of December 27, 2023, impaired Keke’s goodwill was written down to fair value. To determine fair value, we used an income approach and market approach, with equal weighting given to each approach, to value the goodwill subject to the impairment. These fair value measurements require significant judgment using Level 3 inputs. The income approach involves the use of estimates and assumptions including forecasted future revenues and operating margins, including projected growth in restaurant unit counts and average unit volumes, royalty rate, and discount rates. Inputs used are generally obtained from historical data supplemented by current and anticipated market conditions and growth rates. The market approach involves the selection and application of cash flows multiples of a group of similar companies to the projected cash flows of the operating segment.

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 25, 2024
Leases [Abstract]
Schedule of Components of Lease Costs and Lease Terms and Discount Rates	The components of lease costs were as follows: Fiscal Year Ended Classification December 25, 2024 December 27, 2023 December 28, 2022 (In thousands) Lease costs Finance lease costs: Amortization of right-of-use assets Depreciation and amortization $ 1,350 $ 1,451 $ 1,704 Interest on lease liabilities Interest expense, net 1,990 2,139 2,350 Operating lease costs: Operating lease costs Occupancy 8,828 8,584 7,624 Operating lease costs Costs of franchise and license revenue 12,702 14,022 15,541 Operating lease costs General and administrative expenses 739 629 564 Operating lease costs Other operating expenses 459 257 — Operating lease costs Restructuring charges and exit costs 125 175 201 Variable lease costs: Variable lease costs Occupancy 4,716 4,789 3,988 Variable lease costs Costs of franchise and license revenue 5,979 6,232 6,596 Variable lease costs General and administrative expenses 333 271 255 Variable lease costs Other operating expenses 6 14 — Variable lease costs Restructuring charges and exit costs 65 46 34 Sublease income: Sublease income Franchise and license revenue (22,817) (24,966) (27,445) Sublease income Restructuring charges and exit costs (192) (166) (229) Total lease costs $ 14,283 $ 13,477 $ 11,183 Lease terms and discount rates were as follows: December 25, 2024 December 27, 2023 Weighted-average remaining lease term (in years): Finance leases 8.7 8.0 Operating leases 9.0 8.8 Weighted-average discount rate: Finance leases 21.4 % 23.1 % Operating leases 6.1 % 6.0 % Cash and supplemental noncash amounts were as follows: Fiscal Year Ended December 25, 2024 December 27, 2023 December 28, 2022 (In thousands) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from finance leases $ 1,990 $ 2,139 $ 2,350 Operating cash flows from operating leases $ 23,055 $ 24,310 $ 24,626 Financing cash flows from finance leases $ 1,411 $ 1,786 $ 2,020 Right-of-use assets obtained in exchange for new finance lease liabilities $ 1,783 $ 1,071 $ 537 Right-of-use assets obtained in exchange for new operating lease liabilities (1) $ 25,283 $ 7,047 $ 16,040
Schedule of Components of Lease Income	The components of lease income were as follows: Fiscal Year Ended Classification December 25, 2024 December 27, 2023 December 28, 2022 (In thousands) Lease income Operating lease income Franchise and license revenue $ 24,269 $ 26,353 $ 28,473 Operating lease income Restructuring charges and exit costs 130 119 183 Operating lease income General and administrative expenses 71 118 140 Variable lease income Franchise and license revenue 8,895 9,530 10,124 Variable lease income Restructuring charges and exit costs 61 47 46 Total lease income $ 33,426 $ 36,167 $ 38,966
Schedule of Finance Lease Liability Maturity	Maturities of lease liabilities and receipts as of December 25, 2024 were as follows: Lease Liabilities Lease Receipts Finance Operating Operating (In thousands) 2025 $ 3,077 $ 23,243 $ 23,271 2026 2,985 23,114 22,962 2027 2,639 21,328 21,413 2028 1,953 19,479 19,691 2029 1,751 17,954 19,034 Thereafter 9,806 74,758 96,131 Total undiscounted cash flows 22,211 179,876 $ 202,502 Less: interest 11,643 43,548 Present value of lease liabilities 10,568 136,328 Less: current lease liabilities 1,284 15,487 Long-term lease liabilities $ 9,284 $ 120,841
Schedule of Lessee Lease Liability Maturity	Maturities of lease liabilities and receipts as of December 25, 2024 were as follows: Lease Liabilities Lease Receipts Finance Operating Operating (In thousands) 2025 $ 3,077 $ 23,243 $ 23,271 2026 2,985 23,114 22,962 2027 2,639 21,328 21,413 2028 1,953 19,479 19,691 2029 1,751 17,954 19,034 Thereafter 9,806 74,758 96,131 Total undiscounted cash flows 22,211 179,876 $ 202,502 Less: interest 11,643 43,548 Present value of lease liabilities 10,568 136,328 Less: current lease liabilities 1,284 15,487 Long-term lease liabilities $ 9,284 $ 120,841
Schedule of Lessor Operating Lease Payments to be Received Maturity	Maturities of lease liabilities and receipts as of December 25, 2024 were as follows: Lease Liabilities Lease Receipts Finance Operating Operating (In thousands) 2025 $ 3,077 $ 23,243 $ 23,271 2026 2,985 23,114 22,962 2027 2,639 21,328 21,413 2028 1,953 19,479 19,691 2029 1,751 17,954 19,034 Thereafter 9,806 74,758 96,131 Total undiscounted cash flows 22,211 179,876 $ 202,502 Less: interest 11,643 43,548 Present value of lease liabilities 10,568 136,328 Less: current lease liabilities 1,284 15,487 Long-term lease liabilities $ 9,284 $ 120,841

Long-Term Debt (Tables)

Long-Term Debt (Tables)	12 Months Ended
	Dec. 25, 2024
Debt Disclosure [Abstract]
Schedule of Long-Term Debt	Long-term debt consisted of the following: December 25, 2024 December 27, 2023 (In thousands) Revolving loans $ 261,300 $ 255,500 Finance lease obligations 10,568 10,533 Total long-term debt 271,868 266,033 Less current maturities of finance lease obligations 1,284 1,383 Noncurrent portion of long-term debt $ 270,584 $ 264,650
Schedule of Interest Rate Swaps	A summary of our interest rate swaps as of December 25, 2024 is as follows: Trade Date Effective Date Maturity Date Notional Amount Fair Value Fixed Rate (In thousands) Swaps designated as March 20, 2015 March 29, 2018 March 31, 2025 $ 120,000 $ 618 2.34 % October 1, 2015 March 29, 2018 March 31, 2026 $ 50,000 $ 1,087 2.37 % February 15, 2018 March 31, 2020 December 31, 2033 $ 68,000 (1) $ 19,136 3.09 % Total $ 238,000 $ 20,841 (1) The notional amounts of the swaps entered into on February 15, 2018 will increase by $120 million on March 31, 2025 when the swaps entered into on March 20, 2015 expire and will increase periodically until they reach the maximum notional amount of $335 million on August 31, 2033.

Revenues (Tables)

Revenues (Tables)	12 Months Ended
	Dec. 25, 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: Fiscal Year Ended December 25, 2024 December 27, 2023 December 28, 2022 (In thousands) Company restaurant sales $ 211,781 $ 215,532 $ 199,753 Franchise and license revenue: Royalties 118,705 120,131 113,891 Advertising revenue 79,973 78,494 75,926 Initial and other fees 8,711 13,882 28,262 Occupancy revenue 33,164 35,883 38,597 Franchise and license revenue 240,553 248,390 256,676 Total operating revenue $ 452,334 $ 463,922 $ 456,429
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 1,080 Revenue recognized, net (1) (3,262) Balance, December 25, 2024 16,968 Less current portion included in other current liabilities 2,073 Deferred franchise revenue included in other noncurrent liabilities $ 14,895 (1) Of this amount $2.8 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 1,417 Contract asset amortization (1,319) Balance, December 25, 2024 6,706 Less current portion included in other current assets 976 Contract assets included in other noncurrent assets $ 5,730
Schedule of Deferred Franchise Revenue Recognition	As of December 25, 2024, deferred franchise revenue, net of contract asset amortization, expected to be recognized in the future is as follows: (In thousands) 2025 $ 1,097 2026 1,072 2027 1,041 2028 917 2029 813 Thereafter 5,322 Deferred franchise revenue, net $ 10,262

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	12 Months Ended
	Dec. 25, 2024
Retirement Benefits [Abstract]
Schedule of Pension and Other Defined Benefit Plan Obligations and Funded Status	The following table provides a reconciliation of the changes in the benefit obligations, plan assets, and funded status of our defined benefit plans: December 25, 2024 December 27, 2023 (In thousands) Change in Benefit Obligation: Benefit obligation at beginning of year $ 1,078 $ 1,606 Interest cost 31 53 Actuarial gain (83) (29) Benefits paid (106) (131) Settlements (430) (421) Benefit obligation at end of year $ 490 $ 1,078 Accumulated benefit obligation $ 490 $ 1,078 Change in Plan Assets: Fair value of plan assets at beginning of year $ — $ — Employer contributions 536 552 Benefits paid (106) (131) Settlements (430) (421) Fair value of plan assets at end of year $ — $ — Unfunded status at end of year $ (490) $ (1,078) Amounts recognized on the balance sheet: Other current liabilities $ (105) $ (582) Other noncurrent liabilities (385) (496) Net amount recognized $ (490) $ (1,078) Amounts in accumulated other comprehensive loss not yet reflected in net period benefit cost: Unamortized actuarial losses, net $ (277) $ (449) Other changes in plan assets and benefit obligations recognized in accumulated other comprehensive loss, net: Benefit obligation actuarial gain (loss) $ 83 $ (98) Amortization of net loss 63 56 Settlement loss recognized 26 35 Plan closure loss — 74 Other comprehensive income $ 172 $ 67
Schedule of Components of Net Periodic Benefit Cost	The components of net periodic benefit cost, which are included in general and administrative expenses Fiscal Year Ended December 25, 2024 December 27, 2023 December 28, 2022 (In thousands) Interest cost $ 31 $ 53 $ 36 Amortization of net loss 63 56 123 Settlement loss recognized 26 35 74 Plan experience gain — (53) — Net periodic benefit cost $ 120 $ 91 $ 233
Schedule of Expected Benefit Payments	Benefits expected to be paid for each of the next five years and in the aggregate for the five fiscal years from 2030 through 2034 are as follows: Defined Benefit Plans (In thousands) 2025 $ 105 2026 107 2027 78 2028 67 2029 117 2030 though 2034 116

Share-Based Compensation (Table

Share-Based Compensation (Tables)	12 Months Ended
	Dec. 25, 2024
Share-Based Payment Arrangement [Abstract]
Schedule of Total Share-Based Compensation	Total share-based compensation expense included as a component of net income was as follows: Fiscal Year Ended December 25, 2024 December 27, 2023 December 28, 2022 (In thousands) Employee share awards $ 9,792 $ 7,991 $ 10,470 Restricted stock units for board members 886 889 930 Total share-based compensation $ 10,678 $ 8,880 $ 11,400
Schedule of Restricted Stock Units Activity	The following table summarizes the employee share awards activity during the year ended December 25, 2024: Units Weighted Average Grant Date (In thousands) Outstanding, beginning of year 1,990 $ 15.90 Granted 1,432 $ 12.55 Converted (524) $ 17.57 Performance shares adjustment (478) $ 18.35 Forfeited (307) $ 13.59 Outstanding, end of year 2,113 $ 13.00 Convertible, end of year 461 $ 11.76
Schedule of Grant Date Fair Value and Related Assumptions of PSUs	The following table presents the weighted-average assumptions used in the Monte Carlo simulations to determine the fair value of PSU awards at the grant date, along with the related weighted-average grant date fair value of PSU awards: December 25, 2024 December 27, 2023 December 28, 2022 Risk-free interest rate 4.14% 3.75% 1.96% Expected term (in years) 3.0 3.0 2.8 Expected volatility 39.2% 69.7% 66.0% Expected dividend yield 0.0% 0.0% 0.0% Grant date fair value per unit $15.48 $18.39 $21.05

Operating (Gains), Losses and_2

Operating (Gains), Losses and Other Charges, Net (Tables)	12 Months Ended
	Dec. 25, 2024
Other Income and Expenses [Abstract]
Schedule of Operating (Gains) Losses and Other Charges Net	Operating (gains), losses and other charges, net consists of the following: Fiscal Year Ended December 25, 2024 December 27, 2023 December 28, 2022 (In thousands) Gains on sales of assets and other, net $ (137) $ (2,220) $ (3,378) Impairment charges (1) 792 2,214 963 Restructuring charges and exit costs 1,319 2,536 1,410 Operating (gains), losses and other charges, net $ 1,974 $ 2,530 $ (1,005) (1) Impairment charges include impairments related to property, operating lease right-of-use assets, finance lease right-of-use assets, franchise agreements, and reacquired franchise rights.
Schedule of Restructuring Charges and Exit Costs	Restructuring charges and exit costs consists of the following: Fiscal Year Ended December 25, 2024 December 27, 2023 December 28, 2022 (In thousands) Exit costs $ 307 $ 190 $ 86 Severance and other restructuring charges 1,012 2,346 1,324 Total restructuring charges and exit costs $ 1,319 $ 2,536 $ 1,410

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 25, 2024
Income Tax Disclosure [Abstract]
Schedule of Provisions for (Benefits From) Income Taxes	The provisions for (benefits from) income taxes were as follows: Fiscal Year Ended December 25, 2024 December 27, 2023 December 28, 2022 (In thousands) Current: Federal $ 4,925 $ 4,649 $ 6,128 State and local 1,078 2,409 2,160 Foreign 1,478 1,433 1,152 Deferred: Federal (1,079) (1,876) 11,043 State and local 812 173 3,689 Increase (decrease) of valuation allowance 464 205 546 Total provision for income taxes $ 7,678 $ 6,993 $ 24,718
Schedule of Reconciliation of Income Taxes U.S. Federal Statutory Tax Rate	The reconciliation of income taxes at the U.S. federal statutory tax rate to our effective tax rate was as follows: December 25, 2024 December 27, 2023 December 28, 2022 Statutory provision rate 21 % 21 % 21 % State and local taxes, net of federal income tax benefit 7 6 5 Foreign taxes 5 5 1 Change in state valuation allowance 2 1 — General business credits generated (6) (5) (1) Foreign tax credits generated (5) (5) (1) Section 162(m) and share-based compensation 6 7 — Insurance premiums (2) (2) — Other (2) (2) — Effective tax rate 26 % 26 % 25 %
Schedule of Deferred Income Tax Assets or Liabilities	The following table represents the approximate tax effect of each significant type of temporary difference that resulted in deferred income tax assets or liabilities. December 25, 2024 December 27, 2023 (In thousands) Deferred tax assets: Self-insurance accruals $ 2,398 $ 2,536 Finance lease liabilities 1,102 1,119 Operating lease liabilities 34,468 30,445 Accrued exit costs — 5 Pension, other retirement and compensation plans 5,922 7,127 Deferred income 3,868 4,617 Other accruals 1,824 478 General business and foreign tax credit carryforwards - state and federal 3,612 3,472 Net operating loss carryforwards - state 534 848 Total deferred tax assets before valuation allowance 53,728 50,647 Less: valuation allowance (3,407) (2,943) Total deferred tax assets 50,321 47,704 Deferred tax liabilities: Intangible assets (16,140) (15,044) Contract assets (1,212) (1,460) Deferred finance costs — (181) Operating lease right-of-use assets (31,544) (27,307) Fixed assets (6,135) (8,074) Interest rate swaps (5,254) (2,220) Total deferred tax liabilities (60,285) (54,286) Net deferred tax liabilities $ (9,964) $ (6,582)
Schedule of Unrecognized Tax Benefits	The following table provides a reconciliation of the beginning and ending amount of unrecognized tax benefits: December 25, 2024 December 27, 2023 (In thousands) Balance, beginning of year $ 445 $ 869 Increase (decrease) related to prior year tax positions 13 (424) Balance, end of year $ 458 $ 445

Net Income Per Share (Tables)

Net Income Per Share (Tables)	12 Months Ended
	Dec. 25, 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: Fiscal Year Ended December 25, 2024 December 27, 2023 December 28, 2022 (In thousands, except per share amounts) Net income $ 21,571 $ 19,945 $ 74,712 Weighted average shares outstanding - basic 52,499 55,984 60,771 Effect of dilutive share-based compensation awards 115 212 108 Weighted average shares outstanding - diluted 52,614 56,196 60,879 Net income per share - basic $ 0.41 $ 0.36 $ 1.23 Net income per share - diluted $ 0.41 $ 0.35 $ 1.23 Anti-dilutive share-based compensation awards 713 726 709

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	12 Months Ended
	Dec. 25, 2024
Equity [Abstract]
Schedule of Share Repurchases	The following table summarizes share repurchase activity: Fiscal Year Ended December 25, 2024 December 27, 2023 December 28, 2022 (In thousands) Amount repurchased (1) $ 11,231 $ 52,099 $ 64,884 Total number of shares repurchased 1,349 5,202 6,280
Schedule of Components of Accumulated Other Comprehensive Loss	The components of the change in accumulated other comprehensive loss were as follows: Pensions Derivatives Accumulated Other Comprehensive Loss (In thousands) Balance as of December 29, 2021 $ (900) $ (53,570) $ (54,470) Benefit obligation actuarial gain 261 — 261 Amortization of net loss (1) 123 — 123 Settlement loss recognized 74 — 74 Changes in the fair value of cash flow derivatives — 13,619 13,619 Reclassification of cash flow derivatives to interest expense, net (2) — 1,310 1,310 Amortization of unrealized losses related to dedesignated derivatives to interest expense, net — 29 29 Income tax expense (113) (3,530) (3,643) Balance as of December 28, 2022 $ (555) $ (42,142) $ (42,697) Benefit obligation actuarial loss (98) — (98) Amortization of net loss (1) 56 — 56 Settlement loss recognized 35 — 35 Plan closure loss 74 — 74 Changes in the fair value of cash flow derivatives — 6,262 6,262 Reclassification of cash flow derivatives to interest expense, net (2) — (5,028) (5,028) Amortization of unrealized losses related to dedesignated derivatives to interest expense, net — 353 353 Income tax benefit (expense) 151 (767) (616) Balance as of December 27, 2023 $ (337) $ (41,322) $ (41,659) Benefit obligation actuarial gain 83 — 83 Amortization of net loss (1) 63 — 63 Settlement loss recognized 26 — 26 Changes in the fair value of cash flow derivatives — 17,869 17,869 Reclassification of cash flow derivatives to interest expense, net (2) — (5,916) (5,916) Amortization of unrealized losses related to dedesignated derivatives to interest expense, net — 760 760 Income tax expense (44) (3,221) (3,265) Balance as of December 25, 2024 $ (209) $ (31,830) $ (32,039) (1) Before-tax amount that was reclassified from accumulated other comprehensive loss and included as a component of pension expense within general and administrative expenses in our Consolidated Statements of Income. See Note 12 for additional details. (2) Amounts reclassified from accumulated other comprehensive loss into income represent payments made to (received from) the counterparty for the effective portions of the interest rate swaps. These amounts are included as a component of interest expense, net in our Consolidated Statements of Income. We expect to receive payments from the counterparty and reclassify $4.5 million from accumulated other comprehensive loss related to our interest rate swaps during the next twelve months. See Note 10 for additional details.

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 25, 2024
Commitments and Contingencies Disclosure [Abstract]
Schedule of Future Commitments Under Contracts for Food and Non-Food Products	Our future purchase obligation payments due by period for both company and franchised restaurants at December 25, 2024 consist of the following: (In thousands) Less than 1 year $ 195,923 1-2 years — 3-4 years — 5 years and thereafter — Total $ 195,923

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Tables)	12 Months Ended
	Dec. 25, 2024
Supplemental Cash Flow Information [Abstract]
Schedule of Supplemental Cash Flow Information	Fiscal Year Ended December 25, 2024 December 27, 2023 December 28, 2022 (In thousands) Income taxes paid, net $ 6,178 $ 9,195 $ 9,296 Interest paid $ 16,978 $ 13,390 $ 12,939 Noncash investing and financing activities: Receipt of real estate receivable $ — $ — $ 3,000 Accrued purchase of property $ 2,961 $ 756 $ 283 Issuance of common stock, pursuant to share-based compensation plans $ 3,830 $ 5,638 $ 9,547 Execution of finance leases $ 1,783 $ 1,071 $ 537 Treasury stock payable $ — $ 109 $ 542 Treasury stock excise tax payable $ 73 $ 454 $ —

Segment Information (Tables)

Segment Information (Tables)	12 Months Ended
	Dec. 25, 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: Fiscal Year Ended December 25, 2024 Denny’s Other Total Revenues (In thousands) Company restaurant sales $ 193,572 $ 18,209 $ 211,781 Franchise and license revenue: Royalties 113,804 4,901 118,705 Advertising revenue 78,192 1,781 79,973 Initial and other fees 8,351 360 8,711 Occupancy revenue 33,075 89 33,164 Total franchise and license revenue 233,422 7,131 240,553 Total operating revenue 426,994 25,340 452,334 Costs and expenses Costs of company restaurant sales, excluding depreciation and amortization: Product costs 48,976 4,955 53,931 Payroll and benefits 72,828 7,777 80,605 Occupancy costs 15,680 2,449 18,129 Other operating expenses: Utilities 6,404 550 6,954 Repairs and maintenance 3,806 217 4,023 Marketing 7,098 752 7,850 Legal settlements 1,670 30 1,700 Pre-opening costs — 1,548 1,548 Other direct costs 13,267 1,737 15,004 Total costs of company restaurant sales, excluding depreciation and amortization 169,729 20,015 189,744 Costs of franchise and license revenue, excluding depreciation and amortization: Advertising costs 78,192 1,781 79,973 Occupancy costs 20,451 88 20,539 Other direct costs 18,675 1,039 19,714 Total costs of franchise and license revenue, excluding depreciation and amortization 117,318 2,908 120,226 Total restaurant-level operating margin $ 139,947 $ 2,417 $ 142,364 Reconciliation of restaurant-level operating margin to net income General and administrative expenses $ 80,197 Depreciation and amortization 14,857 Goodwill impairment charges 20 Operating (gains), losses and other charges, net 1,974 Total other operating expenses 97,048 Operating income 45,316 Interest expense, net 17,974 Other nonoperating income, net (1,907) Net income before income taxes 29,249 Provision for income taxes 7,678 Net income $ 21,571 Fiscal Year Ended December 27, 2023 Denny’s Other Total Revenues (In thousands) Company restaurant sales $ 201,175 $ 14,357 $ 215,532 Franchise and license revenue: Royalties 115,004 5,127 120,131 Advertising revenue 77,932 562 78,494 Initial and other fees 13,112 770 13,882 Occupancy revenue 35,883 — 35,883 Total franchise and license revenue 241,931 6,459 248,390 Total operating revenue 443,106 20,816 463,922 Costs and expenses Costs of company restaurant sales, excluding depreciation and amortization: Product costs 51,939 3,850 55,789 Payroll and benefits 75,407 5,259 80,666 Occupancy costs 14,875 1,934 16,809 Other operating expenses: Utilities 7,418 430 7,848 Repairs and maintenance 3,486 175 3,661 Marketing 5,524 79 5,603 Legal settlements 2,302 — 2,302 Pre-opening costs — 288 288 Other direct costs 13,452 1,181 14,633 Total costs of company restaurant sales, excluding depreciation and amortization 174,403 13,196 187,599 Costs of franchise and license revenue, excluding depreciation and amortization: Advertising costs 77,932 562 78,494 Occupancy costs 22,160 — 22,160 Other direct costs 21,778 20 21,798 Total costs of franchise and license revenue, excluding depreciation and amortization 121,870 582 122,452 Total restaurant-level operating margin $ 146,833 $ 7,038 $ 153,871 Reconciliation of restaurant-level operating margin to net income General and administrative expenses $ 77,770 Depreciation and amortization 14,385 Goodwill impairment charges 6,363 Operating (gains), losses and other charges, net 2,530 Total other operating expenses 101,048 Operating income 52,823 Interest expense, net 17,597 Other nonoperating expense, net 8,288 Net income before income taxes 26,938 Provision for income taxes 6,993 Net income $ 19,945 Fiscal Year Ended December 28, 2022 Denny’s Other Total Revenues (In thousands) Company restaurant sales $ 193,576 $ 6,177 $ 199,753 Franchise and license revenue: Royalties 111,718 2,173 113,891 Advertising revenue 75,926 — 75,926 Initial and other fees 27,870 392 28,262 Occupancy revenue 38,597 — 38,597 Total franchise and license revenue 254,111 2,565 256,676 Total operating revenue 447,687 8,742 456,429 Costs and expenses Costs of company restaurant sales, excluding depreciation and amortization: Product costs 51,705 1,912 53,617 Payroll and benefits 74,157 2,255 76,412 Occupancy costs 14,310 844 15,154 Other operating expenses Utilities 7,075 198 7,273 Repairs and maintenance 3,803 71 3,874 Marketing 5,294 — 5,294 Legal settlements 4,224 — 4,224 Other direct costs 13,243 367 13,610 Total costs of company restaurant sales, excluding depreciation and amortization 173,811 5,647 179,458 Costs of franchise and license revenue, excluding depreciation and amortization: Advertising costs 75,926 — 75,926 Occupancy costs 24,090 — 24,090 Other direct costs 35,305 6 35,311 Total costs of franchise and license revenue, excluding depreciation and amortization 135,321 6 135,327 Total restaurant-level operating margin $ 138,555 $ 3,089 $ 141,644 Reconciliation of restaurant-level operating margin to net income General and administrative expenses $ 67,173 Depreciation and amortization 14,862 Operating (gains), losses and other charges, net (1,005) Total other operating expenses 81,030 Operating income 60,614 Interest expense, net 13,769 Other nonoperating expense (income), net (52,585) Net income before income taxes 99,430 Provision for income taxes 24,718 Net income $ 74,712 Fiscal Year Ended December 25, 2024 December 27, 2023 Segment assets: (In thousands) Denny’s $ 344,986 $ 340,136 Other 151,288 124,682 Total assets $ 496,274 $ 464,818

Introduction and Basis of Rep_2

Introduction and Basis of Reporting - (Narrative) (Details)	12 Months Ended
	Dec. 25, 2024 state territory restaurant country
Franchisor Disclosure [Line Items]
Number of restaurants	1,568
Denny's Brand
Franchisor Disclosure [Line Items]
Number of restaurants	1,499
Number of states in which entity operates | state	50
Number of territories in which entity operates | territory	2
Number of foreign countries in which entity operates | country	12
Denny's Brand | Geographic Concentration Risk | Geographic Area | California
Franchisor Disclosure [Line Items]
Percentage of restaurants operated by geographic region	24%
Denny's Brand | Geographic Concentration Risk | Geographic Area | Texas
Franchisor Disclosure [Line Items]
Percentage of restaurants operated by geographic region	13%
Denny's Brand | Geographic Concentration Risk | Geographic Area | Florida
Franchisor Disclosure [Line Items]
Percentage of restaurants operated by geographic region	8%
Keke's
Franchisor Disclosure [Line Items]
Number of restaurants	69
Number of states in which entity operates | state	6
Keke's | Geographic Concentration Risk | Geographic Area | Florida
Franchisor Disclosure [Line Items]
Percentage of restaurants operated by geographic region	88%
Franchise
Franchisor Disclosure [Line Items]
Number of restaurants	1,493
Franchise | Denny's Brand
Franchisor Disclosure [Line Items]
Number of restaurants	1,438
Franchise | Keke's
Franchisor Disclosure [Line Items]
Number of restaurants	55
Company Restaurants
Franchisor Disclosure [Line Items]
Number of restaurants	75
Company Restaurants | Denny's Brand
Franchisor Disclosure [Line Items]
Number of restaurants	61
Company Restaurants | Keke's
Franchisor Disclosure [Line Items]
Number of restaurants	14

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Cash and Cash Equivalents (Details) - USD ($) $ in Millions	Dec. 25, 2024	Dec. 27, 2023
Accounting Policies [Abstract]
Short-term investments	$ 0.1	$ 0.1

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Property and Depreciation (Details)	Dec. 25, 2024
Building Assets | Minimum
Property, Plant and Equipment
Property and equipment, useful life	5 years
Building Assets | Maximum
Property, Plant and Equipment
Property and equipment, useful life	30 years
Equipment | Minimum
Property, Plant and Equipment
Property and equipment, useful life	2 years
Equipment | Maximum
Property, Plant and Equipment
Property and equipment, useful life	10 years
Leasehold Improvements | Minimum
Property, Plant and Equipment
Property and equipment, useful life	5 years
Leasehold Improvements | Maximum
Property, Plant and Equipment
Property and equipment, useful life	15 years

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Marketable Securities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 25, 2024	Dec. 27, 2023	Dec. 28, 2022
Investment [Line Items]
Marketable securities	$ 1,106	$ 1,281
Unrealized gain (loss) on marketable securities	1,700	2,100	$ (2,200)
Investments
Investment [Line Items]
Unrealized gain (loss) on marketable securities	100	100	$ (200)
Aggregated Cost
Investment [Line Items]
Marketable securities	1,100	1,200
Estimate of Fair Value Measurement
Investment [Line Items]
Marketable securities	$ 1,100	$ 1,300

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Self-insurance Liabilities (Details) - USD ($) $ in Millions	Dec. 25, 2024	Dec. 27, 2023
Accounting Policies [Abstract]
Workers' compensation, general, product and automobile insurance liabilities	$ 9.3	$ 9.7

Summary of Significant Accoun_7

Summary of Significant Accounting Policies - Derivative Instruments (Details)	12 Months Ended
	Dec. 25, 2024
Accounting Policies [Abstract]
Derivative Asset, Statement Of Financial Position, Extensible Enumeration Not Disclosed Flag	Consolidated Balance Sheets
Derivative Liability, Statement Of Financial Position, Extensible Enumeration Not Disclosed Flag	Consolidated Balance Sheets

Summary of Significant Accoun_8

Summary of Significant Accounting Policies - Concentration Risk (Details)	12 Months Ended
	Dec. 25, 2024	Dec. 27, 2023	Dec. 28, 2022
Revenue from franchises and licenses risk | Revenue Benchmark | Ten Largest Franchises
Concentration Risk
Franchise revenue, percentage	38%	38%	37%

Summary of Significant Accoun_9

Summary of Significant Accounting Policies - Advertising Costs (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 25, 2024	Dec. 27, 2023	Dec. 28, 2022
Entity Operated Units
Franchisor Disclosure [Line Items]
Advertising expense	$ 7.9	$ 5.6	$ 5.3
Franchise
Franchisor Disclosure [Line Items]
Advertising expense	$ 80	$ 78.5	$ 75.9

Acquisition of Keke's Breakfa_3

Acquisition of Keke's Breakfast Cafe - Narrative (Details) $ in Thousands		12 Months Ended
	Jul. 20, 2022 USD ($) restaurant	Dec. 25, 2024 restaurant	Dec. 28, 2022 USD ($)
Business Acquisition [Line Items]
Number of restaurants		1,568
Franchise agreements
Business Acquisition [Line Items]
Weighted average useful life		13 years
Company Restaurants
Business Acquisition [Line Items]
Number of restaurants		75
Keke's
Business Acquisition [Line Items]
Total purchase price | $	$ 82,500
Acquisition, transaction costs | $			$ 600
Keke's | Franchise agreements
Business Acquisition [Line Items]
Weighted average useful life	15 years
Keke's | Franchised Location
Business Acquisition [Line Items]
Number of restaurants	44
Keke's | Company Restaurants
Business Acquisition [Line Items]
Number of restaurants	8

Acquisition of Keke's Breakfa_4

Acquisition of Keke's Breakfast Cafe - Purchase Price Allocation (Details) - USD ($) $ in Thousands	Jul. 20, 2022	Dec. 25, 2024	Dec. 27, 2023	Dec. 28, 2022
Liabilities:
Goodwill		$ 66,357	$ 65,908	$ 72,740
Keke's
Business Acquisition [Line Items]
Total consideration paid	$ 82,500
Assets:
Property	2,015
Operating lease ROU assets	7,908
Liabilities:
Operating lease liabilities	7,908
Deferred franchise revenue	992
Other liabilities	36
Net assets acquired, excluding goodwill	47,287
Goodwill	35,213
Keke's | Trade name
Assets:
Purchase price allocated to intangible assets	35,600
Keke's | Franchise agreements
Assets:
Purchase price allocated to intangible assets	$ 10,700

Receivables - Schedule of Recei

Receivables - Schedule of Receivables, Net (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 25, 2024	Dec. 27, 2023	Dec. 28, 2022
Receivables, net:
Trade accounts receivable from franchisees	$ 15,798	$ 14,092
Notes and loan receivables from franchisees	490	584
Allowance for doubtful accounts	(442)	(201)
Total receivables, net	24,433	21,391
Expected credit expense (reversal)	200	(100)	$ (100)
Vendor receivables
Receivables, net:
Other receivable, gross, current	3,632	4,059
Credit card receivables
Receivables, net:
Other receivable, gross, current	1,815	995
Other
Receivables, net:
Other receivable, gross, current	$ 3,140	$ 1,862

Property (Details)

Property (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 25, 2024	Dec. 27, 2023	Dec. 28, 2022
Property, Plant and Equipment
Total property	$ 271,005	$ 253,373
Less accumulated depreciation	159,588	159,879
Property, net	111,417	93,494
Property held under finance leases, leased to franchisees, net	6,200	6,098
Depreciation expense, including amortization of property under finance leases	12,600	12,200	$ 12,800
Franchise
Property, Plant and Equipment
Total property	86,504	90,588
Less accumulated depreciation	55,699	58,006
Property, net	30,805	32,582
Buildings held under finance leases, leased to franchisees	5,233	5,505
Less accumulated amortization	3,024	3,218
Property held under finance leases, leased to franchisees, net	2,209	2,287
Total property leased to franchisees, net	33,014	34,869
Land
Property, Plant and Equipment
Total property	43,196	43,577
Land | Franchise
Property, Plant and Equipment
Total property	23,166	23,825
Buildings and leasehold improvements
Property, Plant and Equipment
Total property	182,560	169,005
Buildings and leasehold improvements | Franchise
Property, Plant and Equipment
Total property	63,338	66,763
Other property and equipment
Property, Plant and Equipment
Total property	$ 45,249	$ 40,791

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 25, 2024	Dec. 27, 2023	Dec. 28, 2022	Jul. 20, 2022
Goodwill [Roll Forward]
Balance, beginning of year	$ 65,908	$ 72,740
Reclassifications from (to) assets held for sale	469	(469)
Impairment charges	(20)	(6,363)	$ 0
Balance, end of year	66,357	65,908	72,740
Goodwill	66,357	65,908	$ 72,740
Accumulated impairment losses	6,400
Denny’s
Goodwill [Roll Forward]
Balance, beginning of year	37,527
Balance, end of year	37,507	37,527
Goodwill	37,507	37,527
Other
Goodwill [Roll Forward]
Balance, beginning of year	28,381
Balance, end of year	28,850	28,381
Goodwill	$ 28,850	$ 28,381
Keke's
Goodwill [Roll Forward]
Goodwill				$ 35,213

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Finite-Lived and Indefinite-Lived Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 25, 2024	Dec. 27, 2023
Intangible Assets
Trade names	$ 79,687	$ 79,687
Liquor licenses	120	120
Finite-Lived Intangible Assets [Line Items]
Accumulated Amortization	7,806	6,549
Intangible assets	99,545	99,977
Reacquired franchise rights
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	9,135	9,470
Accumulated Amortization	6,188	5,614
Franchise agreements
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	10,603	10,700
Accumulated Amortization	$ 1,618	$ 935

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 25, 2024	Dec. 27, 2023	Dec. 28, 2022
Finite-Lived Intangible Assets [Line Items]
Amortization expense of definite-lived intangible assets and other assets	$ 2,200	$ 2,200	$ 2,000
Goodwill impairment charges	20	6,363	$ 0
Keke's
Finite-Lived Intangible Assets [Line Items]
Goodwill impairment charges	$ 6,400
Reacquired franchise rights
Finite-Lived Intangible Assets [Line Items]
Weighted average useful life	5 years
Impairment of franchisee rights	$ 100	$ 100
Franchise agreements
Finite-Lived Intangible Assets [Line Items]
Weighted average useful life	13 years
Impairment of franchisee rights	$ 100

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets - Estimated Amortization Expense (Details) $ in Thousands	Dec. 25, 2024 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2025	$ 1,442
2026	1,274
2027	1,235
2028	1,085
2029	$ 1,017

Other Current Liabilities (Deta

Other Current Liabilities (Details) - USD ($) $ in Thousands	Dec. 25, 2024	Dec. 27, 2023
Other Liabilities Disclosure [Abstract]
Accrued payroll	$ 15,434	$ 16,400
Accrued insurance, primarily current portion of liability for insurance claims	4,494	3,758
Accrued taxes	4,432	4,699
Accrued advertising	11,785	10,664
Gift cards	8,382	7,838
Accrued legal settlements	4,114	7,488
Accrued interest	4,368	4,530
Other	5,833	7,691
Other current liabilities	$ 58,842	$ 63,068

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Schedule of Assets and Liabilities on Recurring Basis (Details) - Recurring - USD ($) $ in Thousands	Dec. 25, 2024	Dec. 27, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Deferred compensation plan investments	$ 10,400	$ 12,225
Interest rate swaps, net	20,841	8,888
Investments	1,106	1,281
Total	32,347	22,394
Quoted Prices in Active Markets for Identical Assets/Liabilities (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Deferred compensation plan investments	10,400	12,225
Interest rate swaps, net	0	0
Investments	0	0
Total	10,400	12,225
Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Deferred compensation plan investments	0	0
Interest rate swaps, net	20,841	8,888
Investments	1,106	1,281
Total	21,947	10,169
Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Deferred compensation plan investments	0	0
Interest rate swaps, net	0	0
Investments	0	0
Total	$ 0	$ 0

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Schedule of Assets and Liabilities Measured on Nonrecurring Basis (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 25, 2024	Dec. 27, 2023	Dec. 28, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Asset impairment charges	$ 792	$ 2,214	$ 963
Goodwill	66,357	65,908	72,740
Goodwill impairment charges	20	6,363	$ 0
Fair Value, Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Asset impairment charges	$ 800	8,600
Fair Value, Nonrecurring | Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets held and used, including other assets		0
Asset impairment charges		375
Goodwill		28,381
Goodwill impairment charges		$ 6,363

Fair Value of Financial Instr_5

Fair Value of Financial Instruments - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 25, 2024	Dec. 27, 2023	Dec. 28, 2022
Fair Value Disclosures [Abstract]
Impairment charges	$ 792	$ 2,214	$ 963

Leases - General (Details)

Leases - General (Details)	Dec. 25, 2024
Lessee, Lease, Description [Line Items]
Lessee, operating lease, renewal term	5 years
Real Estate | Minimum
Lessee, Lease, Description [Line Items]
Lessee, operating lease, term of contract	10 years
Real Estate | Maximum
Lessee, Lease, Description [Line Items]
Lessee, operating lease, term of contract	20 years
Equipment | Minimum
Lessee, Lease, Description [Line Items]
Lessee, operating lease, term of contract	3 years
Equipment | Maximum
Lessee, Lease, Description [Line Items]
Lessee, operating lease, term of contract	5 years

Leases - Lease Costs (Details)

Leases - Lease Costs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 25, 2024	Dec. 27, 2023	Dec. 28, 2022
Finance lease costs:
Amortization of right-of-use assets	$ 1,350	$ 1,451	$ 1,704
Interest on lease liabilities	1,990	2,139	2,350
Sublease income:
Total lease costs	14,283	13,477	11,183
Occupancy
Operating lease costs:
Operating lease costs	8,828	8,584	7,624
Variable lease costs:
Variable lease costs	4,716	4,789	3,988
Costs of franchise and license revenue
Operating lease costs:
Operating lease costs	12,702	14,022	15,541
Variable lease costs:
Variable lease costs	5,979	6,232	6,596
General and administrative expenses
Operating lease costs:
Operating lease costs	739	629	564
Variable lease costs:
Variable lease costs	333	271	255
Other operating expenses
Operating lease costs:
Operating lease costs	459	257	0
Variable lease costs:
Variable lease costs	6	14	0
Restructuring charges and exit costs
Operating lease costs:
Operating lease costs	125	175	201
Variable lease costs:
Variable lease costs	65	46	34
Sublease income:
Sublease income	(192)	(166)	(229)
Franchise and license revenue
Sublease income:
Sublease income	$ (22,817)	$ (24,966)	$ (27,445)

Leases - Lease Terms and Discou

Leases - Lease Terms and Discount Rates (Details)	Dec. 25, 2024	Dec. 27, 2023
Weighted-average remaining lease term (in years):
Finance leases	8 years 8 months 12 days	8 years
Operating leases	9 years	8 years 9 months 18 days
Weighted-average discount rate:
Finance leases	21.40%	23.10%
Operating leases	6.10%	6%

Leases - Lease Income (Details)

Leases - Lease Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 25, 2024	Dec. 27, 2023	Dec. 28, 2022
Lease income
Total lease income	$ 33,426	$ 36,167	$ 38,966
Restructuring charges and exit costs
Lease income
Operating lease income	130	119	183
Variable lease income	$ 61	47	46
Operating lease, lease income, statement of income or comprehensive income	Other Operating Income (Expense), Net
General and administrative expenses
Lease income
Operating lease income	$ 71	118	140
Operating lease, lease income, statement of income or comprehensive income	General and administrative expenses
Franchise and license revenue
Lease income
Operating lease income	$ 24,269	26,353	28,473
Variable lease income	$ 8,895	$ 9,530	$ 10,124
Operating lease, lease income, statement of income or comprehensive income	Revenue recognized

Leases - Cash and Supplemental

Leases - Cash and Supplemental Noncash (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 25, 2024	Dec. 27, 2023	Dec. 28, 2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from finance leases	$ 1,990	$ 2,139	$ 2,350
Operating cash flows from operating leases	23,055	24,310	24,626
Financing cash flows from finance leases	1,411	1,786	2,020
Right-of-use assets obtained in exchange for new finance lease liabilities	1,783	1,071	537
Right-of-use assets obtained in exchange for new operating lease liabilities	$ 25,283	$ 7,047	16,040
Keke's
Cash paid for amounts included in the measurement of lease liabilities:
Right-of-use assets obtained in exchange for new operating lease liabilities			$ 7,900

Leases - Maturities of Lease La

Leases - Maturities of Lease Labilities (Details) - USD ($) $ in Thousands	Dec. 25, 2024	Dec. 27, 2023
Lease Liabilities, Finance
2025	$ 3,077
2026	2,985
2027	2,639
2028	1,953
2029	1,751
Thereafter	9,806
Total undiscounted cash flows	22,211
Less: interest	11,643
Present value of lease liabilities	10,568	$ 10,533
Less: current lease liabilities	1,284	1,383
Long-term lease liabilities	9,284	9,150
Lease Liabilities, Operating
2025	23,243
2026	23,114
2027	21,328
2028	19,479
2029	17,954
Thereafter	74,758
Total undiscounted cash flows	179,876
Less: interest	43,548
Present value of lease liabilities	136,328
Less: current lease liabilities	15,487	14,779
Long-term lease liabilities	120,841	$ 114,451
Lease Receipts, Operating
2025	23,271
2026	22,962
2027	21,413
2028	19,691
2029	19,034
Thereafter	96,131
Total undiscounted cash flows	$ 202,502

Long-term Debt - Schedule of Lo

Long-term Debt - Schedule of Long-term Debt (Details) - USD ($) $ in Thousands	Dec. 25, 2024	Dec. 27, 2023
Debt Disclosure [Abstract]
Revolving loans	$ 261,300	$ 255,500
Finance lease obligations	10,568	10,533
Total long-term debt	271,868	266,033
Less current maturities of finance lease obligations	1,284	1,383
Noncurrent portion of long-term debt	$ 270,584	$ 264,650

Long-Term Debt - Narrative (Det

Long-Term Debt - Narrative (Details)	12 Months Ended
	Dec. 25, 2024 USD ($)	Dec. 27, 2023 USD ($)	Dec. 28, 2022 USD ($)	Mar. 29, 2023 USD ($)	Dec. 29, 2021 USD ($)
Line of Credit Facility [Line Items]
Revolving loans maturity, amount	$ 261,300,000
Notional Amount	$ 238,000,000
Outstanding debt percentage	80%
Shareholders’ deficit	$ (34,025,000)	$ (62,686,000)	$ (37,116,000)		$ (65,265,000)
Interest Rate Swaps Maturity 2033
Line of Credit Facility [Line Items]
Termination fee		1,500,000
Interest Rate Swaps Maturity 2033 | Maximum
Line of Credit Facility [Line Items]
Notional Amount	335,000,000			$ 425,000,000
Derivatives
Line of Credit Facility [Line Items]
Reclassification	(5,916,000)	(5,028,000)	1,310,000
Shareholders’ deficit	(31,830,000)	(41,322,000)	(42,142,000)		$ (53,570,000)
Derivatives
Line of Credit Facility [Line Items]
Reclassification	760,000	353,000	29,000
Effective Interest Rate Swaps
Line of Credit Facility [Line Items]
Derivative asset	20,800,000
Reclassification	5,900,000
Expect reclassification within next twelve months	4,500,000
Dedesignated Interest Rate Swaps Member | Other Nonoperating Income (Expense)
Line of Credit Facility [Line Items]
Unrealized gain (loss) on derivatives		(10,600,000)	55,000,000
Dedesignated Interest Rate Swaps Member | Derivatives
Line of Credit Facility [Line Items]
Shareholders’ deficit	63,400,000
Dedesignated Interest Rate Swaps Member | Derivatives
Line of Credit Facility [Line Items]
Reclassification	800,000	$ 400,000	$ 100,000
Expect reclassification within next twelve months	$ 3,100,000
Senior Secured Revolver
Line of Credit Facility [Line Items]
Debt instrument, term	5 years
Maximum borrowing capacity	$ 400,000,000
Line of credit facility, accordion feature, increase limit	$ 450,000,000
Line of credit facility, covenant, minimum, fixed charge leverage ratio	3.85
Fixed charge coverage ratio	2.18
Outstanding amount under credit facility	$ 261,300,000
Availability under the revolving facility	$ 122,600,000
Basis spread on variable rate debt	2.25%
Commitment fee, percent	0.35%
Weighted-average interest rate	6.98%	7.41%
Senior Secured Revolver | Maximum
Line of Credit Facility [Line Items]
Line of credit facility, covenant, minimum, fixed charge leverage ratio	4
Fixed charge coverage ratio	1.5
Senior Secured Revolver | Interest Rate Swaps, Net
Line of Credit Facility [Line Items]
Weighted-average interest rate	5.01%	5.04%
Letter of Credit
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 25,000,000
Outstanding amount under letter of credit	$ 16,100,000
Interest rate	2.38%

Long-Term Debt - Schedule of In

Long-Term Debt - Schedule of Interest Rate Swaps (Details) - USD ($)	Mar. 31, 2025	Dec. 25, 2024
Derivative [Line Items]
Notional Amount		$ 238,000,000
Fair Value		20,841,000
Interest Rate Swaps Maturity 2025
Derivative [Line Items]
Notional Amount		120,000,000
Fair Value		$ 618,000
Fixed Rate		2.34%
Interest Rate Swaps Maturity 2026
Derivative [Line Items]
Notional Amount		$ 50,000,000
Fair Value		$ 1,087,000
Fixed Rate		2.37%
Interest Rate Swaps Maturity 2033
Derivative [Line Items]
Notional Amount		$ 68,000,000
Fair Value		$ 19,136,000
Fixed Rate		3.09%
Interest Rate Swaps Maturity 2033 | Forecast
Derivative [Line Items]
Notional Amount	$ 120,000,000
Maximum | Interest Rate Swaps Maturity 2033
Derivative [Line Items]
Notional Amount		$ 335,000,000

Revenues - Schedule of Disaggre

Revenues - Schedule of Disaggregation of Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 25, 2024	Dec. 27, 2023	Dec. 28, 2022
Disaggregation of Revenue [Line Items]
Total operating revenue	$ 452,334	$ 463,922	$ 456,429
Company restaurant sales
Disaggregation of Revenue [Line Items]
Total operating revenue	211,781	215,532	199,753
Royalties
Disaggregation of Revenue [Line Items]
Total operating revenue	118,705	120,131	113,891
Advertising revenue
Disaggregation of Revenue [Line Items]
Total operating revenue	79,973	78,494	75,926
Initial and other fees
Disaggregation of Revenue [Line Items]
Total operating revenue	8,711	13,882	28,262
Occupancy revenue
Disaggregation of Revenue [Line Items]
Total operating revenue	33,164	35,883	38,597
Franchise and license revenue
Disaggregation of Revenue [Line Items]
Total operating revenue	$ 240,553	$ 248,390	$ 256,676

Revenues - Schedule of Componen

Revenues - Schedule of Components of the Change in Deferred Franchise Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 25, 2024	Dec. 27, 2023
Contract With Customer Liability [Roll Forward]
Balance, December 27, 2023	$ 19,150
Fees received from franchisees	1,080
Revenue recognized, net	(3,262)
Balance, December 25, 2024	16,968	$ 19,150
Less current portion included in other current liabilities	2,073
Deferred franchise revenue included in other noncurrent liabilities	$ 14,895
Amount of revenue recognized that was previously included in balance of obligation		$ 2,800

Revenues - Schedule of Compon_2

Revenues - Schedule of Components of the Change in Contract Assets (Details) $ in Thousands	12 Months Ended
	Dec. 25, 2024 USD ($)
Contract with Customer, Asset, Allowance for Credit Loss [Roll Forward]
Balance, December 27, 2023	$ 6,608
Franchisee deferred costs	1,417
Contract asset amortization	(1,319)
Balance, December 25, 2024	6,706
Less current portion included in other current assets	976
Contract assets included in other noncurrent assets	$ 5,730

Revenues - Narrative (Details)

Revenues - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 25, 2024	Dec. 27, 2023	Dec. 28, 2022
Disaggregation of Revenue [Line Items]
Revenue recognized	$ 452,334	$ 463,922	$ 456,429
Receivables, net	24,433	21,391
Contract with customer	2,073
Amount of revenue recognized that was previously included in balance of obligation		2,800
Gift Card Redemption
Disaggregation of Revenue [Line Items]
Contract with customer	8,400	7,800
Amount of revenue recognized that was previously included in balance of obligation	600
Franchise Equipment Programs
Disaggregation of Revenue [Line Items]
Revenue recognized	700	4,800	$ 19,300
Inventory related to kitchen equipment rollout	200	600
Receivables, net	$ 400	$ 300

Revenues - Deferred Revenue (De

Revenues - Deferred Revenue (Details) $ in Thousands	Dec. 25, 2024 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Deferred franchise revenue expected to be recognized	$ 10,262
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	$ 1,097
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	$ 1,072
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	$ 1,041
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	$ 917
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	$ 813
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2029-12-27
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Deferred franchise revenue expected to be recognized	$ 5,322
Revenue, remaining performance obligation, expected timing of satisfaction, period

Employee Benefit Plans - Define

Employee Benefit Plans - Defined Contribution Plans (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 25, 2024	Dec. 27, 2023	Dec. 28, 2022
Defined Contribution Plan Disclosure [Line Items]
Employer contributions	$ 2	$ 1.8	$ 1.7
Qualified Plan
Defined Contribution Plan Disclosure [Line Items]
Maximum annual contribution per employee	25%
Employer matching contribution	4%
Nonqualified Plan
Defined Contribution Plan Disclosure [Line Items]
Maximum annual contribution per employee	50%
Maximum incentive compensation deferral	75%

Employee Benefit Plans - Change

Employee Benefit Plans - Change in Benefit Obligation and Plan Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 25, 2024	Dec. 27, 2023	Dec. 28, 2022
Change in Benefit Obligation:
Benefit obligation at beginning of year	$ 1,078	$ 1,606
Interest cost	31	53	$ 36
Actuarial gain	(83)	(29)
Benefits paid	(106)	(131)
Settlements	(430)	(421)
Benefit obligation at end of year	490	1,078	1,606
Accumulated benefit obligation	490	1,078
Change in Plan Assets:
Fair value of plan assets at beginning of year	0	0
Employer contributions	536	552
Benefits paid	(106)	(131)
Settlements	(430)	(421)
Fair value of plan assets at end of year	0	0	$ 0
Unfunded status at end of year	(490)	(1,078)
Amounts recognized on the balance sheet:
Other current liabilities	(105)	(582)
Other noncurrent liabilities	(385)	(496)
Net amount recognized	(490)	(1,078)
Amounts in accumulated other comprehensive loss not yet reflected in net period benefit cost:
Unamortized actuarial losses, net	(277)	(449)
Other changes in plan assets and benefit obligations recognized in accumulated other comprehensive loss, net:
Benefit obligation actuarial gain (loss)	83	(98)
Amortization of net loss	63	56
Settlement loss recognized	26	35
Plan closure loss	0	74
Other comprehensive income	$ 172	$ 67

Employee Benefit Plans - Compon

Employee Benefit Plans - Components of Net Periodic Benefit Cost (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 25, 2024	Dec. 27, 2023	Dec. 28, 2022
Retirement Benefits [Abstract]
Net periodic benefit cost (credit) excluding service cost, statement of income or comprehensive income	General and administrative expenses
Components of net periodic benefit cost [Abstract]
Interest cost	$ 31	$ 53	$ 36
Amortization of net loss	63	56	123
Settlement loss recognized	26	35	74
Plan experience gain	0	(53)	0
Net periodic benefit cost	$ 120	$ 91	$ 233

Employee Benefit Plans - Assump

Employee Benefit Plans - Assumptions (Details)	12 Months Ended
	Dec. 25, 2024	Dec. 27, 2023	Dec. 28, 2022
Retirement Benefits [Abstract]
Discount rate used to determine the benefit obligations	5.08%	4.93%
Discount rate used to determine net period pension costs	4.93%	5.26%	1.99%

Employee Benefit Plans - Benefi

Employee Benefit Plans - Benefits Expected to be Paid in Future Years (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 25, 2024	Dec. 27, 2023
Retirement Benefits [Abstract]
Employer contributions	$ 536	$ 552
Estimated employer contributions, next fiscal year	100
Benefits expected to be paid:
2025	105
2026	107
2027	78
2028	67
2029	117
2030 though 2034	$ 116

Share-Based Compensation - Narr

Share-Based Compensation - Narrative (Details) $ / shares in Units, shares in Thousands, $ in Millions	12 Months Ended
	Dec. 25, 2024 USD ($) installment $ / shares shares	Dec. 27, 2023 USD ($) $ / shares shares	Dec. 28, 2022 USD ($) $ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Income tax benefits recognized related to share-based compensation | $	$ 2.8	$ 2.3	$ 2.9
Unrecognized compensation cost related to unvested awards outstanding | $	$ 13.9
Unrecognized compensation cost, expected weighted average period	1 year 9 months 18 days
Employee share awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant date fair value per unit (in dollars per share) | $ / shares	$ 12.55	$ 13.43	$ 16.22
Cash payments | $	$ 0.3	$ 0.1	$ 0.4
Intrinsic value of units converted | $	$ 5.7	$ 8.6	$ 13.8
Stock units outstanding (in shares)	2,113	1,990
Certain Employees | Performance Shares Total Shareholder Return
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity awards granted (in shares)	600
Grant date fair value per unit (in dollars per share) | $ / shares	$ 15.48
Certain Employees | Employee share awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant date fair value per unit (in dollars per share) | $ / shares	$ 15.48	$ 18.39	$ 21.05
Certain Employees | Employee share awards | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of target achievement	0%
Certain Employees | Employee share awards | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of target achievement	200%
Certain Employees | Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity awards granted (in shares)	800
Grant date fair value per unit (in dollars per share) | $ / shares	$ 10.13
Vesting period	3 years
Board Members | Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity awards granted (in shares)	100
Grant date fair value per unit (in dollars per share) | $ / shares	$ 8.09
Unrecognized compensation cost related to unvested awards outstanding | $	$ 0.4
Vesting period	1 year
Unrecognized compensation cost, expected weighted average period	4 months 24 days
Number of equal annual installments | installment	3
Stock units converted into common stock (in shares)	100
Stock units outstanding (in shares)	700	700
2021 Omnibus Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for grant (in shares)	900

Share-Based Compensation - Sche

Share-Based Compensation - Schedule of Total Share-based Compensation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 25, 2024	Dec. 27, 2023	Dec. 28, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation	$ 10,678	$ 8,880	$ 11,400
Employee share awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation	9,792	7,991	10,470
Restricted stock units for board members
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation	$ 886	$ 889	$ 930

Share-Based Compensation - Sc_2

Share-Based Compensation - Schedule of Restricted Stock Units Activity (Details) - Employee share awards - $ / shares shares in Thousands	12 Months Ended
	Dec. 25, 2024	Dec. 27, 2023	Dec. 28, 2022
Units
Outstanding, beginning of year (in shares)	1,990
Granted (in shares)	1,432
Converted (in shares)	(524)
Performance shares adjustment (in shares)	(478)
Forfeited (in shares)	(307)
Outstanding, end of year (in shares)	2,113	1,990
Convertible, end of year (in shares)	461
Weighted Average Grant Date Fair Value
Outstanding, beginning of year (in dollars per share)	$ 15.90
Granted (in dollars per share)	12.55	$ 13.43	$ 16.22
Converted (in dollars per share)	17.57
Performance shares adjustment (in dollars per share)	18.35
Forfeited (in dollars per share)	13.59
Outstanding, end of year (in dollars per share)	13	$ 15.90
Convertible, end of year, weighted-average grant date fair value (in dollars per share)	$ 11.76

Share-Based Compensation - Sc_3

Share-Based Compensation - Schedule of Grant Date Fair Value and Related Assumptions of PSUs (Details) - Employee share awards - $ / shares	12 Months Ended
	Dec. 25, 2024	Dec. 27, 2023	Dec. 28, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant date fair value per unit (in dollars per share)	$ 12.55	$ 13.43	$ 16.22
Certain Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate	4.14%	3.75%	1.96%
Expected term (in years)	3 years	3 years	2 years 9 months 18 days
Expected volatility	39.20%	69.70%	66%
Expected dividend yield	0%	0%	0%
Grant date fair value per unit (in dollars per share)	$ 15.48	$ 18.39	$ 21.05

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	12 Months Ended
	Dec. 25, 2024	Dec. 27, 2023	Dec. 28, 2022
Other Income and Expenses [Abstract]
Gains on sales of assets and other, net	$ (137)	$ (2,220)	$ (3,378)
Impairment, Intangible Asset, Finite-Lived, Statement of Income or Comprehensive Income [Extensible Enumeration]	Operating (gains), losses and other charges, net	Operating (gains), losses and other charges, net	Operating (gains), losses and other charges, net
Impairment charges	$ 792	$ 2,214	$ 963
Restructuring charges and exit costs	1,319	2,536	1,410
Operating (gains), losses and other charges, net	$ 1,974	$ 2,530	$ (1,005)

Operating (Gains), Losses and_4

Operating (Gains), Losses and Other Charges, Net - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 25, 2024	Dec. 27, 2023	Dec. 28, 2022
Finite-Lived Intangible Assets [Line Items]
Asset impairment charges	$ 792	$ 2,214	$ 963
Tangible asset impairment charges	600	1,300	600
Operating lease, impairment loss		900	300
Impairment related to finance lease ROU assets		100	$ 100
Accrued severance and other restructuring charges	300	1,400
Reacquired franchise rights
Finite-Lived Intangible Assets [Line Items]
Impairment of franchisee rights	100	$ 100
Franchise agreements
Finite-Lived Intangible Assets [Line Items]
Impairment of franchisee rights	$ 100

Operating (Gains), Losses and_5

Operating (Gains), Losses and Other Charges, Net - Schedule of Restructuring Charges and Exit Costs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 25, 2024	Dec. 27, 2023	Dec. 28, 2022
Restructuring charges and exit costs [Abstract]
Exit costs	$ 307	$ 190	$ 86
Severance and other restructuring charges	1,012	2,346	1,324
Total restructuring charges and exit costs	$ 1,319	$ 2,536	$ 1,410

Income Taxes - Provisions for B

Income Taxes - Provisions for Benefits from Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 25, 2024	Dec. 27, 2023	Dec. 28, 2022
Current:
Federal	$ 4,925	$ 4,649	$ 6,128
State and local	1,078	2,409	2,160
Foreign	1,478	1,433	1,152
Deferred:
Federal	(1,079)	(1,876)	11,043
State and local	812	173	3,689
Increase (decrease) of valuation allowance	464	205	546
Total provision for income taxes	$ 7,678	$ 6,993	$ 24,718

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of Income Taxes (Details)	12 Months Ended
	Dec. 25, 2024	Dec. 27, 2023	Dec. 28, 2022
Reconciliation of income taxes at the U.S. federal statutory tax rate to effective tax rate:
Statutory provision rate	21%	21%	21%
State and local taxes, net of federal income tax benefit	7%	6%	5%
Foreign taxes	5%	5%	1%
Change in state valuation allowance	2%	1%	0%
General business credits generated	(6.00%)	(5.00%)	(1.00%)
Foreign tax credits generated	(5.00%)	(5.00%)	(1.00%)
Section 162(m) and share-based compensation	6%	7%	0%
Insurance premiums	(2.00%)	(2.00%)	0%
Other	(2.00%)	(2.00%)	0%
Effective tax rate	26%	26%	25%

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 25, 2024	Dec. 27, 2023
Valuation Allowance [Line Items]
Disallowed compensation deductions	$ 1,800,000	$ 1,900,000
Net operating loss carryforwards - state	534,000	848,000
Valuation allowance	3,407,000	2,943,000
Interest and penalties recognized on unrecognized tax benefits	100,000	$ 0
Pennsylvania and South Carolina NOL Carryforwards
Valuation Allowance [Line Items]
Net operating loss carryforwards - state	300,000
Valuation allowance	200,000
State Enterprise Zone Credits
Valuation Allowance [Line Items]
Valuation allowance	1,100,000
Foreign Tax Credit Carryforward
Valuation Allowance [Line Items]
Valuation allowance	$ 2,100,000

Income Taxes - Deferred Tax Ass

Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 25, 2024	Dec. 27, 2023
Deferred tax assets:
Self-insurance accruals	$ 2,398	$ 2,536
Finance lease liabilities	1,102	1,119
Operating lease liabilities	34,468	30,445
Accrued exit costs	0	5
Pension, other retirement and compensation plans	5,922	7,127
Deferred income	3,868	4,617
Other accruals	1,824	478
General business and foreign tax credit carryforwards - state and federal	3,612	3,472
Net operating loss carryforwards - state	534	848
Total deferred tax assets before valuation allowance	53,728	50,647
Less: valuation allowance	(3,407)	(2,943)
Total deferred tax assets	50,321	47,704
Deferred tax liabilities:
Intangible assets	(16,140)	(15,044)
Contract assets	(1,212)	(1,460)
Deferred finance costs	0	(181)
Operating lease right-of-use assets	(31,544)	(27,307)
Fixed assets	(6,135)	(8,074)
Interest rate swaps	(5,254)	(2,220)
Total deferred tax liabilities	(60,285)	(54,286)
Net deferred tax liabilities	$ (9,964)	$ (6,582)

Income Taxes - Unrecognized Tax

Income Taxes - Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 25, 2024	Dec. 27, 2023
Unrecognized Tax Benefits [Roll Forward]
Balance, beginning of year	$ 445	$ 869
Increase (decrease) related to prior year tax positions	13
Decreases related to prior year tax positions		(424)
Balance, end of year	$ 458	$ 445

Net Income Per Share (Details)

Net Income Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 25, 2024	Dec. 27, 2023	Dec. 28, 2022
Earnings Per Share [Abstract]
Net income	$ 21,571	$ 19,945	$ 74,712
Weighted average shares outstanding - basic (in shares)	52,499	55,984	60,771
Effect of dilutive share-based compensation awards (in shares)	115	212	108
Weighted average shares outstanding - diluted (in shares)	52,614	56,196	60,879
Net income per share - basic (in dollars per share)	$ 0.41	$ 0.36	$ 1.23
Net income per share - diluted (in dollars per share)	$ 0.41	$ 0.35	$ 1.23
Anti-dilutive share-based compensation awards (in shares)	713	726	709

Shareholders' Deficit - Narrati

Shareholders' Deficit - Narrative (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		12 Months Ended
	Dec. 25, 2024	Dec. 27, 2023	Dec. 25, 2024	Dec. 27, 2023	Dec. 25, 2019
Equity, Class of Treasury Stock [Line Items]
Retirement of shares (in shares)	2	12.8
Weighted average share price (in dollars per share)	$ 8.78	$ 11.02
Remaining number of treasury shares (in shares)			0	0.7
Share Repurchase Program 2019
Equity, Class of Treasury Stock [Line Items]
Share repurchase, authorized amount					$ 250

Shareholders' Deficit - Schedul

Shareholders' Deficit - Schedule Of Stock Repurchases (Details) - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 25, 2024	Dec. 27, 2023	Dec. 28, 2022
Equity [Abstract]
Amount repurchased	$ 11,231	$ 52,099	$ 64,884
Total number of shares repurchased	1,349	5,202	6,280
Excise taxes for share repurchases	$ 100	$ 400

Shareholders' Deficit - Sched_2

Shareholders' Deficit - Schedule of Components of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 25, 2024	Dec. 27, 2023	Dec. 28, 2022
AOCI Attributable To Parent, Net Of Tax [Roll Forward]
Balance as of beginning period	$ (62,686)	$ (37,116)	$ (65,265)
Settlement loss recognized	26	35
Plan closure loss	0	(74)
Income tax (expense) benefit	(3,265)	(616)	(3,643)
Balance as of end of period	(34,025)	(62,686)	(37,116)
Effective Interest Rate Swaps
AOCI Attributable To Parent, Net Of Tax [Roll Forward]
Amortization of net loss	5,900
Expect reclassification within next twelve months	4,500
Pensions
AOCI Attributable To Parent, Net Of Tax [Roll Forward]
Balance as of beginning period	(337)	(555)	(900)
Benefit obligation actuarial gain (loss)	83	(98)	261
Settlement loss recognized	26	35	74
Income tax (expense) benefit	(44)	151	(113)
Balance as of end of period	(209)	(337)	(555)
Amortization of net loss
AOCI Attributable To Parent, Net Of Tax [Roll Forward]
Amortization of net loss	63	56	123
Plan closure loss		74
Derivatives
AOCI Attributable To Parent, Net Of Tax [Roll Forward]
Balance as of beginning period	(41,322)	(42,142)	(53,570)
Amortization of net loss	(5,916)	(5,028)	1,310
Changes in the fair value of cash flow derivatives	17,869	6,262	13,619
Income tax (expense) benefit	(3,221)	(767)	(3,530)
Balance as of end of period	(31,830)	(41,322)	(42,142)
Derivatives | Dedesignated Interest Rate Swaps Member
AOCI Attributable To Parent, Net Of Tax [Roll Forward]
Balance as of end of period	63,400
Derivatives
AOCI Attributable To Parent, Net Of Tax [Roll Forward]
Amortization of net loss	760	353	29
Derivatives | Dedesignated Interest Rate Swaps Member
AOCI Attributable To Parent, Net Of Tax [Roll Forward]
Amortization of net loss	800	400	100
Expect reclassification within next twelve months	3,100
Accumulated Other Comprehensive Loss
AOCI Attributable To Parent, Net Of Tax [Roll Forward]
Balance as of beginning period	(41,659)	(42,697)	(54,470)
Balance as of end of period	$ (32,039)	$ (41,659)	$ (42,697)

Commitments and Contingencies -

Commitments and Contingencies - Purchase Obligations (Details) $ in Thousands	Dec. 25, 2024 USD ($)
Payments due by period:
Less than 1 year	$ 195,923
1-2 years	0
3-4 years	0
5 years and thereafter	0
Total	$ 195,923

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 25, 2024	Dec. 27, 2023	Dec. 28, 2022
Supplemental Cash Flow Information [Abstract]
Income taxes paid, net	$ 6,178	$ 9,195	$ 9,296
Interest paid	16,978	13,390	12,939
Noncash investing and financing activities:
Receipt of real estate receivable	0	0	3,000
Accrued purchase of property	2,961	756	283
Issuance of common stock, pursuant to share-based compensation plans	3,830	5,638	9,547
Execution of finance leases	1,783	1,071	537
Treasury stock payable	0	109	542
Treasury stock excise tax payable	$ 73	$ 454	$ 0

Segment Information (Details)

Segment Information (Details) $ in Thousands	12 Months Ended
	Dec. 25, 2024 USD ($) segment	Dec. 27, 2023 USD ($)	Dec. 28, 2022 USD ($)
Segment Reporting [Abstract]
Number of operating segments | segment	2
Revenues
Revenue recognized	$ 452,334	$ 463,922	$ 456,429
Costs and expenses
Product costs	53,931	55,789	53,617
Payroll and benefits	80,605	80,666	76,412
Occupancy costs	18,129	16,809	15,154
Utilities	6,954	7,848	7,273
Repairs and maintenance	4,023	3,661	3,874
Marketing	7,850	5,603	5,294
Legal settlements	1,700	2,302	4,224
Pre-opening costs	1,548	288
Other direct costs	15,004	14,633	13,610
Total costs of company restaurant sales, excluding depreciation and amortization	189,744	187,599	179,458
Costs of franchise and license revenue, excluding depreciation and amortization:
Costs of franchise and license revenue	120,226	122,452	135,327
Total restaurant-level operating margin	142,364	153,871	141,644
Reconciliation of restaurant-level operating margin to net income
General and administrative expenses	80,197	77,770	67,173
Depreciation and amortization	14,857	14,385	14,862
Goodwill impairment charges	20	6,363	0
Operating (gains), losses and other charges, net	1,974	2,530	(1,005)
Total operating costs and expenses, net	97,048	101,048	81,030
Operating income	45,316	52,823	60,614
Interest expense, net	17,974	17,597	13,769
Other nonoperating (income) expense, net	(1,907)	8,288	(52,585)
Net income before income taxes	29,249	26,938	99,430
Provision for income taxes	7,678	6,993	24,718
Net income	21,571	19,945	74,712
Total assets	496,274	464,818
Company restaurant sales
Revenues
Revenue recognized	211,781	215,532	199,753
Royalties
Revenues
Revenue recognized	118,705	120,131	113,891
Advertising costs
Revenues
Revenue recognized	79,973	78,494	75,926
Costs of franchise and license revenue, excluding depreciation and amortization:
Costs of franchise and license revenue	79,973	78,494	75,926
Initial and other fees
Revenues
Revenue recognized	8,711	13,882	28,262
Occupancy costs
Revenues
Revenue recognized	33,164	35,883	38,597
Costs of franchise and license revenue, excluding depreciation and amortization:
Costs of franchise and license revenue	20,539	22,160	24,090
Franchise and license revenue
Revenues
Revenue recognized	240,553	248,390	256,676
Other direct costs
Costs of franchise and license revenue, excluding depreciation and amortization:
Costs of franchise and license revenue	19,714	21,798	35,311
Denny’s
Revenues
Revenue recognized	426,994	443,106	447,687
Costs and expenses
Product costs	48,976	51,939	51,705
Payroll and benefits	72,828	75,407	74,157
Occupancy costs	15,680	14,875	14,310
Utilities	6,404	7,418	7,075
Repairs and maintenance	3,806	3,486	3,803
Marketing	7,098	5,524	5,294
Legal settlements	1,670	2,302	4,224
Pre-opening costs	0	0
Other direct costs	13,267	13,452	13,243
Total costs of company restaurant sales, excluding depreciation and amortization	169,729	174,403	173,811
Costs of franchise and license revenue, excluding depreciation and amortization:
Costs of franchise and license revenue	117,318	121,870	135,321
Total restaurant-level operating margin	139,947	146,833	138,555
Reconciliation of restaurant-level operating margin to net income
Total assets	344,986	340,136
Denny’s | Company restaurant sales
Revenues
Revenue recognized	193,572	201,175	193,576
Denny’s | Royalties
Revenues
Revenue recognized	113,804	115,004	111,718
Denny’s | Advertising costs
Revenues
Revenue recognized	78,192	77,932	75,926
Costs of franchise and license revenue, excluding depreciation and amortization:
Costs of franchise and license revenue	78,192	77,932	75,926
Denny’s | Initial and other fees
Revenues
Revenue recognized	8,351	13,112	27,870
Denny’s | Occupancy costs
Revenues
Revenue recognized	33,075	35,883	38,597
Costs of franchise and license revenue, excluding depreciation and amortization:
Costs of franchise and license revenue	20,451	22,160	24,090
Denny’s | Franchise and license revenue
Revenues
Revenue recognized	233,422	241,931	254,111
Denny’s | Other direct costs
Costs of franchise and license revenue, excluding depreciation and amortization:
Costs of franchise and license revenue	18,675	21,778	35,305
Other
Revenues
Revenue recognized	25,340	20,816	8,742
Costs and expenses
Product costs	4,955	3,850	1,912
Payroll and benefits	7,777	5,259	2,255
Occupancy costs	2,449	1,934	844
Utilities	550	430	198
Repairs and maintenance	217	175	71
Marketing	752	79	0
Legal settlements	30	0	0
Pre-opening costs	1,548	288
Other direct costs	1,737	1,181	367
Total costs of company restaurant sales, excluding depreciation and amortization	20,015	13,196	5,647
Costs of franchise and license revenue, excluding depreciation and amortization:
Costs of franchise and license revenue	2,908	582	6
Total restaurant-level operating margin	2,417	7,038	3,089
Reconciliation of restaurant-level operating margin to net income
Total assets	151,288	124,682
Other | Company restaurant sales
Revenues
Revenue recognized	18,209	14,357	6,177
Other | Royalties
Revenues
Revenue recognized	4,901	5,127	2,173
Other | Advertising costs
Revenues
Revenue recognized	1,781	562	0
Costs of franchise and license revenue, excluding depreciation and amortization:
Costs of franchise and license revenue	1,781	562	0
Other | Initial and other fees
Revenues
Revenue recognized	360	770	392
Other | Occupancy costs
Revenues
Revenue recognized	89	0	0
Costs of franchise and license revenue, excluding depreciation and amortization:
Costs of franchise and license revenue	88	0	0
Other | Franchise and license revenue
Revenues
Revenue recognized	7,131	6,459	2,565
Other | Other direct costs
Costs of franchise and license revenue, excluding depreciation and amortization:
Costs of franchise and license revenue	$ 1,039	$ 20	$ 6

Subsequent Events (Details)

Subsequent Events (Details) $ in Thousands	1 Months Ended	3 Months Ended	12 Months Ended
	Jan. 31, 2025 position	Mar. 26, 2025 USD ($)	Dec. 25, 2024 USD ($)	Dec. 27, 2023 USD ($)	Dec. 28, 2022 USD ($)
Subsequent Event [Line Items]
Severance and other restructuring charges			$ 1,319	$ 2,536	$ 1,410
Minimum | Employee Severance | Relocation Of Support Functions | Forecast
Subsequent Event [Line Items]
Severance and other restructuring charges		$ 3,000
Maximum | Employee Severance | Relocation Of Support Functions | Forecast
Subsequent Event [Line Items]
Severance and other restructuring charges		$ 3,500
Subsequent Event | Employee Severance | Relocation Of Support Functions
Subsequent Event [Line Items]
Number of positions eliminated | position	40