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Exhibit 11.0

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

			Year Ended December 31,
			2003		2002		2001
INCOME PER SHARE—BASIC
	Weighted average common shares outstanding			21,424		20,946		20,398
	Net income available to common shareholders		$	36,782	$	40,848	$	40,288
	Net income per share—basic		$	1.72	$	1.95	$	1.98
NET INCOME PER SHARE—DILUTED
	Weighted average common shares outstanding			21,424		20,946		20,398
	Net effect of dilutive stock options based on the treasury stock method using the average market price			190		323		364
		Total		21,614		21,269		20,762
	Net income available to common shareholders		$	36,782	$	40,848	$	40,288
	Net income per share—diluted		$	1.70	$	1.92	$	1.94

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