Founded in 1958 as IHOP, it operates franchised and corporate owned full-service restaurants including two restaurant concepts, Applebee's Neighborhood Grill & Bar and International House of Pancakes (IHOP). Reconciliation of the Company's net income to “adjusted EBITDA.” The Company defines adjusted EBITDA as net income, adjusted for the effect of impairment and closure charges, interest charges, income tax provision or benefit, depreciation and amortization, non-cash stock-based compensation, gain or loss on disposition of assets, other non-income based taxes and other items deemed not reflective of current operations. Management may use certain non-GAAP measures along with the corresponding U. S. GAAP measures to evaluate the performance of the company and to make certain business decisions.
For more information on Dine Brands, visit the Company’s website located at Statements contained in this press release may constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. “Effective Restaurants” are the weighted average number of restaurants open in a given fiscal period, adjusted to account for restaurants open for only a portion of the period.
Net (loss) income available to common stockholders As previously disclosed on March 19, 2020, the Company borrowed $220 million from its revolving financing facility, all of which remains drawn as of June 30, 2020. Dine Brands will host a conference call to discuss its results on Because of new unit openings and restaurant closures, the domestic restaurants open throughout both fiscal periods being compared may be different from period to period.The franchise sales percentage change for 2019 was impacted by the acquisition of 69 franchise restaurants in December 2018 now reported as company-operated.The following table summarizes our restaurant development activity:Franchise/area license restaurants permanently closed:Total franchise/area license restaurants permanently closedKEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA Unaudited reported sales for Applebee's domestic franchise restaurants, IHOP franchise restaurants and IHOP area license restaurants for the three and six months ended “As we continue to navigate through the challenges currently facing our industry, we have remained resolute in our focus to return to growth. Diluted net (loss) income available to common stockholders per share: Sales at restaurants that are owned by franchisees and area licensees are not attributable to the Company. The franchise sales percentage change for 2019 was impacted by the acquisition of 69 franchise restaurants in Based in Glendale, California, Dine Brands Global, Inc, through its subsidiaries, franchises restaurants under the Applebee's Neighborhood Grill & Bar and IHOP brands. Reconciliation of the Company's cash provided by operating activities to “adjusted free cash flow” (cash provided by operating activities, plus receipts from notes and equipment contracts receivable, less additions to property and equipment). With over 3,600 restaurants combined in 17 countries and approximately 370 franchisees, Dine Brands Global is one of the largest full-service restaurant companies in the world. Dine Brands Global Inc. is a publicly traded food and beverage company based in Glendale, California. The following table summarizes our restaurant development activity: Management may use certain of these non-GAAP financial measures along with the corresponding U.S. GAAP measures to evaluate the performance of the business and to make certain business decisions. The forward-looking statements contained in this press release are made as of the date hereof and the Corporation does not intend to, nor does it assume any obligation to, update or supplement any forward-looking statements after the date hereof to reflect actual results or future events or circumstances.This press release includes references to the Company’s non-GAAP financial measure “adjusted net income available to common stockholders”, “adjusted earnings per diluted share (Adjusted EPS)”, “Adjusted EBITDA” and “Adjusted free cash flow.” Adjusted EPS is computed for a given period by deducting from net income or loss available to common stockholders for such period the effect of any closure and impairment charges, any gain or loss related to debt extinguishment, any intangible asset amortization, any non-cash interest expense, any gain or loss related to the disposition of assets, and other items deemed not reflective of current operations. Net (loss) income available to common stockholders, as adjusted
Cash flows (used in) provided by operating activities
Effect of unvested participating restricted stock using the two-class method An increase or decrease in franchisees' reported sales will result in a corresponding increase or decrease in our royalty revenue. This press release includes references to the Company's non-GAAP financial measure “adjusted net income available to common stockholders”, “adjusted earnings per diluted share (Adjusted EPS)”, “Adjusted EBITDA” and “Adjusted free cash flow.” Adjusted EPS is computed for a given period by deducting from net income or loss available to common stockholders for such period the effect of any closure and impairment charges, any gain or loss related to debt extinguishment, any intangible asset amortization, any non-cash interest expense, any gain or loss related to the disposition of assets, and other items deemed not reflective of current operations. The Company voluntarily doubled its interest reserve on its Class A-2 Notes during the second quarter of 2020 to “As we continue to navigate through the challenges currently facing our industry, we have remained resolute in our focus to return to growth. Statements contained in this press release may constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Throughout the second quarter, weekly comparable sales and traffic at both Applebee’s and IHOP improved as state and local governments began to ease restrictions on dining room operations.