Exhibit 11.0

IHOP CORP. AND SUBSIDIARIES

STATEMENT REGARDING COMPUTATION OF PER SHARE EARNINGS

(in thousands, except per share data)

	Year Ended December 31,
	2004		2003		2002
INCOME PER SHARE—BASIC
Weighted average common shares outstanding	20,606		21,424		20,946
Net income available to common shareholders	$	33,421	$	36,782	$	40,848
Net income per share—basic	$	1.62	$	1.72	$	1.95
NET INCOME PER SHARE—DILUTED
Weighted average common shares outstanding	20,606		21,424		20,946
Net effect of dilutive stock options based on the treasury stock method using the average market price	185		190		323
Total	20,791		21,614		21,269
Net income available to common shareholders	$	33,421	$	36,782	$	40,848
Net income per share—diluted	$	1.61	$	1.70	$	1.92