Shareholders' Equity

9 Months Ended

Sep. 24, 2014

Stockholders' Equity Attributable to Parent [Abstract]

Shareholders' equity

Shareholders' Equity

Share Repurchase

Our credit facility permits the payment of cash dividends and the purchase of Denny’s stock subject to certain limitations. In April 2013, we announced that our Board of Directors approved a share repurchase program authorizing us to repurchase up to an additional 10.0 million shares of our common stock (in addition to prior authorizations). Under this program, 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) or in privately negotiated transactions, subject to market and business conditions. During the three quarters ended September 24, 2014, we repurchased 4.9 million shares of our common stock for approximately $32.0 million. This brings the total amount repurchased under this program to 5.7 million shares of our common stock for approximately $37.0 million, leaving 4.3 million shares that can be repurchased as of September 24, 2014. Repurchased shares are included as treasury stock in the Condensed Consolidated Balance Sheets and the Condensed Consolidated Statement of Shareholders' Equity.

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 25, 2013	$	(18,690	)	$	1,848		$	(16,842	)
Amortization of net loss (1)	693			—			693
Net change in fair value of derivatives	—			(1,178		)	(1,178		)
Income tax (expense) benefit related to items of other comprehensive income	(271		)	460			189
Balance as of September 24, 2014	$	(18,268	)	$	1,130		$	(17,138	)

(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 Condensed Consolidated Statements of Income during the three quarters ended September 24, 2014. See Note 8 for additional details.