DineEquity, Inc. owns franchises and operates two restaurant concepts: Applebee's Neighborhood Grill & Bar, (Applebee's), in the bar and grill segment and International House of Pancakes (IHOP), in the family dining category. It generates revenue from four segments: Franchise operations, Rental operations, Company restaurant operations and Financing operations. Franchise operations include royalties, fees and other income from 1,988 Applebee�s franchised restaurants and 1,607 IHOP franchised and area licensed restaurants. Rental operations include rental income derived from lease or sublease agreements covering 723 IHOP franchised restaurants and one Applebee�s franchised restaurant. Company restaurant operations include retail sales from 23 Applebee�s Company-operated restaurants and 13 IHOP company-operated restaurants. Financing operations include interest income for equipment leases and franchise fee notes associated with IHOP franchised restaurants.