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Other Intangible Assets
 12 Months Ended
Dec. 31, 2019
Intangible Assets, Net (Excluding Goodwill) [Abstract]  
Other Intangible Assets Other Intangible Assets
The significant majority of the Company's other intangible assets arose from the November 29, 2007 acquisition of Applebee's. Changes in the carrying amount of intangible assets for the years ended December 31, 2019, 2018 and 2017 are as follows:
 
Not Subject to Amortization
 
Subject to Amortization
 
 
 
Tradename
 
Other
 
Franchising
Rights
 
Reacquired Franchise Rights
 
Leaseholds
 
Total
 
(In millions)
Balance at December 31, 2016
$
652.4

 
$
2.0

 
$
109.0

 
$
—

 
$
—

 
$
763.4

Impairment
(173.4
)
 
—

 
—

 
—

 
—

 
(173.4
)
Amortization expense
—

 
—

 
(10.0
)
 
—

 
—

 
(10.0
)
Additions
—

 
0.4

 
—

 
—

 
2.4

 
2.8

Balance at December 31, 2017
479.0

 
2.4

 
99.0

 
—

 
2.4

 
582.8

Amortization expense
—

 
—

 
(10.0
)
 
(0.1
)
 
(0.0
)
 
(10.1
)
Additions
—

 
0.3

 
—

 
11.6

 
1.3

 
13.2

Balance at December 31, 2018
479.0

 
2.7

 
89.0

 
11.5

 
3.7

 
585.9

Amortization expense
—

 
—

 
(10.0
)
 
(1.7
)
 
(0.1
)
 
(11.8
)
Additions
—

 
0.5

 
—

 
—

 
0.5

 
1.0

Balance at December 31, 2019
$
479.0

 
$
3.2

 
$
79.0

 
$
9.8

 
$
4.1

 
$
575.1



In December 2018, the Company acquired 69 Applebee's restaurants. The Company completed the purchase price allocation as described in Note 18 - Acquisition of Business, of Notes to the Consolidated Financial Statements and recorded $11.6 million of reacquired franchise rights as an intangible asset. In June 2017, the Company refranchised nine IHOP restaurants. As discussed in Note 20 - Refranchising of Company-operated Restaurants, of Notes to the Consolidated Financial Statements, the Company recorded a net intangible asset $2.4 million for below-market leases.

Annual amortization expense for the next five fiscal years is estimated to be approximately $11.0 million per year. The weighted average life of the intangible assets subject to amortization was 18.5 years and 20 years at December 31, 2019 and 2018, respectively.

Gross and net carrying amounts of intangible assets subject to amortization at December 31, 2019 and 2018 are as follows:
 
December 31, 2019
 
December 31, 2018
 
Gross
 
Accumulated
Amortization
 
Net
 
Gross
 
Accumulated
Amortization
 
Net
 
(In millions)
Franchising rights
$
200.0

 
$
(121.0
)
 
$
79.0

 
$
200.0

 
$
(111.0
)
 
$
89.0

Reacquired Franchise Rights
11.6

 
(1.8
)
 
9.8

 
11.6

 
(0.1
)
 
11.5

Leaseholds
4.2

 
(0.1
)
 
4.1

 
$
3.7

 
(0.0
)
 
3.7

Total
$
215.8

 
$
(122.9
)
 
$
92.9

 
$
215.3

 
$
(111.1
)
 
$
104.2



The Company assessed the Applebee's tradename for impairment in accordance with its policy described in Note 2 - Basis of Presentation and Summary of Significant Accounting Policies. In the fourth quarter of fiscal 2019 and 2018, the Company performed a qualitative assessment of the Applebee's tradename and concluded the fair value exceeded the carrying amount.

As discussed in Note 6 - Goodwill, the Company determined that indicators of impairment existed prior to the annual test for impairment and performed an interim quantitative test for impairment of Applebee's tradename in the third quarter of 2017. In performing the impairment test of the tradename, the Company used the relief of royalty method under the income approach method of valuation. Significant assumptions used to determine fair value under the relief of royalty method include future trends in sales, a royalty rate and a discount rate applied to the forecast revenue stream. As a result of performing this quantitative test, the Company recognized an impairment of Applebee's tradename of $173.4 million in 2017. The Company recognized a tax benefit of $65.1 million related to the impairment.