v3.26.1
Revenue Recognition
 3 Months Ended
Mar. 31, 2026
Revenue from Contract with Customer [Abstract]  
Revenue Recognition Revenue Recognition
Disaggregation of Revenue
Our revenue consists of:
Three Months Ended March 31,
20262025
Revenue StreamSegmentTotal Revenue
Restaurant revenue:(In millions)
Restaurant salesRestaurant Group$91.9 $99.1 
Total restaurant revenue91.9 99.1 
Other operating revenue:
Real estate and resortCorporate and other4.3 4.0 
OtherCorporate and other— 0.1 
Total other operating revenue4.3 4.1 
Total operating revenues$96.2 $103.2 
Restaurant revenue consists of restaurant sales and, to a lesser extent, franchise revenue and other revenue. Restaurant sales including food and beverage sales, are net of applicable state and local sales taxes and discounts, and are recognized at a point in time as services are performed and goods are provided.
Other operating revenue consists of income generated by our resort operations, which includes sales of real estate, lodging rentals, food and beverage sales, and other income from various resort services offered. Revenue is recognized at a point in time upon closing of the sale of real estate or once goods and services have been provided and billed to the customer.
All of our restaurant and other operating revenues are generated in the United States.
Contract Balances
The following table provides information about trade receivables and deferred revenue:
 March 31, 2026December 31, 2025
 (In millions)
Trade receivables, net$6.3 $7.6 
Deferred revenue (contract liabilities)14.5 16.1 
Trade receivables, net are included in Other current assets on our Condensed Consolidated Balance Sheets.
Deferred revenue is recorded primarily for restaurant gift card sales. The unrecognized portion of such revenue is recorded as Deferred revenue in the Condensed Consolidated Balance Sheets. Revenues of $1.4 million and $1.3 million was recognized in the three months ended March 31, 2026 and 2025, respectively, that was included in Deferred revenue at the beginning of the period.
There was no impairment related to contract balances.