as a result of the development efforts described above , over the past seven years we have transitioned from a restaurant portfolio mix of 66 % franchised and 34 % company operated to a restaurant portfolio mix of 90 % franchised and 10 % company operated at december 25 , 2013. now that we have achieved our mix target , we expect that our percentage of company operated restaurants will gradually decrease , as the majority of our future unit growth will be through franchised restaurants . 20 specifically , our focus on refranchising has impacted our financial performance as follows : company restaurant sales have decreased from $ 411.6 million in 2011 to $ 328.3 million in 2013 , primarily as a result of the sale of restaurants to franchisees . the decline in company restaurant revenues is partially offset by increased royalty income derived from the growth in the franchised restaurant base resulting from both traditional development and the conversion of restaurants . as a result , royalty income , which is included as a component of franchise and license revenue , has increased from $ 79.2 million in 2011 to $ 85.5 million in 2013 . the resulting net reduction in total revenue related to our fgi program is generally recovered by the benefits of a lower cost structure related to franchise and license revenues , a decrease in depreciation and amortization ( from $ 28.0 million in 2011 to $ 21.5 million in 2013 ) due to the sale of restaurant related assets to franchisees and lower ongoing capital expenditure requirements and a reduction in interest expense ( from $ 20.0 million in 2011 to $ 10.3 million in 2013 ) resulting from the use of proceeds to reduce debt . see `` debt and refinancing and reductions `` below . initial franchise fees , included as a component of franchise and license revenue , are generally recognized in the period in which a restaurant is sold to a franchisee or when a new unit is opened . these initial fees are completely dependent on the number of restaurants sold to or opened by franchisees during a particular period and , as a result , can cause fluctuations in our total franchise and license revenue from year to year . occupancy revenues , also included as a component of franchise and license revenue , result from leasing or subleasing restaurants to franchisees . as a result of our fgi program , occupancy revenues have increased from $ 44.5 million in 2011 to $ 47.1 million in 2013 . additionally , when restaurants are sold and leased or subleased to franchisees , the occupancy costs related to these restaurants move from costs of company restaurant sales to costs of franchise and license revenue to match the related occupancy revenue . as subleases with franchisees end over time , franchise occupancy revenue and costs could decrease if franchisees enter into direct leases with landlords . gains on sales of assets are primarily dependent on the number of restaurants sold to franchisees during a particular period , and as a result , can cause fluctuations in net income from year to year . with the completion of our fgi program , gains on sales of assets have decreased . debt refinancing and reductions over the past several years , we have continued to reduce interest expense through a series of debt refinancings and repayments using the proceeds generated from our fgi transactions , sales of real estate and cash flow from operations . these repayments resulted in an overall debt reduction of approximately $ 42 million in 2011 , $ 28 million in 2012 and $ 17 million in 2013. during the second quarter of 2013 , we refinanced our credit facility ( the `` new credit facility `` ) principally to take advantage of lower interest rates available in the senior secured debt market . borrowings for the new term loan bear a tiered interest rate based on the company 's consolidated leverage ratio . our interest rate was initially set at libor plus 200 basis points . for more information , see `` management 's discussion and analysis of financial condition and results of operations - liquidity and capital resources - credit facility . `` the combination of lower debt balances and lower overall interest rates on our debt should continue to positively benefit our financial performance on an ongoing basis . share repurchases our credit facility permits the payment of cash dividends and or the purchase of denny 's stock subject to certain limitations . during 2013 , we repurchased 4.2 million shares of common stock for $ 24.7 million . since initiating our share repurchase programs in november 2010 , we have repurchased a total of 15.8 million shares of common stock for $ 72.3 million . as of december 25 , 2013 , there are 9.2 million shares remaining to be repurchased under the current repurchase program . for more information see `` market for registrant 's common equity , related stockholder matters and issuer purchases of equity securities - dividends and share repurchases . `` repurchased shares are included as treasury stock in the consolidated balance sheets and the consolidated statements of shareholders ' equity . 21 statements of income replace_table_token_9_th ( a ) costs of company restaurant sales percentages are as a percentage of company restaurant sales . costs of franchise and license revenue percentages are as a percentage of franchise and license revenue . all other percentages are as a percentage of total operating revenue . ( b ) equivalent units are calculated as the weighted average number of units outstanding during a defined time period . ( c ) same-store sales include sales from restaurants that were open the same period in the prior year . ( d ) prior year amounts have not been restated for 2013 comparable restaurants . story_separator_special_tag at december 25 , 2013 , there were no unrecognized tax benefits including potential interest and penalties . off-balance sheet arrangements except for operating leases entered into the normal course of business , we do not have any off balance sheet arrangements . critical accounting policies and estimates our discussion and analysis of our financial condition and results of operations are based upon our consolidated financial statements , which have been prepared in accordance with u.s. generally accepted accounting principles . the preparation of these financial statements requires us to make estimates and judgments that affect the reported amounts of assets , liabilities , revenues and expenses , and related disclosure of contingent assets and liabilities . on an ongoing basis , we evaluate our estimates , including those related to self-insurance liabilities , impairment of long-lived assets , restructuring and exit costs , income taxes and share-based compensation . we base our estimates on historical experience and on various other assumptions that we believe to be reasonable under the circumstances , the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources . actual results may differ from these estimates under different assumptions or conditions ; however , we believe that our estimates , including those for the above-described items , are reasonable . we believe the following critical accounting policies affect our more significant judgments and estimates used in the preparation of our consolidated financial statements : self-insurance liabilities . we record liabilities for insurance claims during periods in which we have been insured under large deductible programs or have been self-insured for our medical and dental claims and workers ' compensation , general/product and automobile insurance liabilities . maximum self-insured retention , including defense costs per occurrence , ranges from $ 0.5 million to $ 1.0 million per individual claim for workers ' compensation and for general/product and automobile liability . the liabilities for prior and current estimated incurred losses are discounted to their present value based on expected loss payment patterns determined by independent actuaries using our actual historical payments . these estimates include assumptions regarding claims frequency and severity as well as changes in our business environment , medical costs and the regulatory environment that could impact our overall self-insurance costs . total discounted workers ' compensation and general liability insurance liabilities at december 25 , 2013 and december 26 , 2012 were $ 23.8 million and $ 23.2 million , respectively , with each reflecting a 1.0 % discount rate . the related undiscounted amounts at such dates were $ 24.4 million and $ 23.8 million , respectively . impairment of long-lived assets . we evaluate our long-lived assets for impairment at the restaurant level on a quarterly basis , when assets are identified as held for sale or whenever changes or events indicate that the carrying value may not be recoverable . for assets identified as held for sale , we use the market approach and consider proceeds from similar asset sales . we assess impairment of restaurant-level assets based on the operating cash flows of the restaurant , expected proceeds from the sale of assets and our plans for restaurant closings . generally , all restaurants with negative cash flows from operations for the most recent twelve months at each quarter end are included in our assessment . for underperforming assets , we use the income approach to determine both the recoverability and estimated fair value of the assets . to estimate future cash flows we make certain assumptions about expected future operating performance , such as revenue growth , operating margins , risk-adjusted discount rates , and future economic and market conditions . if the long-lived assets of a restaurant are not recoverable based upon estimated future , undiscounted cash flows , we write the assets down to their fair value . if these estimates or their related assumptions change in the future , we may be required to record additional impairment charges . these charges are included as a component of operating ( gains ) , losses and other charges , net in our consolidated statements of income . 33 during 2013 , 2012 and 2011 , we recorded impairment charges of $ 5.7 million , $ 3.7 million and $ 4.1 million , respectively , for underperforming restaurants , including restaurants closed and company restaurants classified as held for sale . these charges are included as a component of operating ( gains ) , losses and other charges , net in our consolidated statements of income . generally , all restaurants with negative cash flows from operations for the most recent twelve months at each quarter end are included in our assessment . at december 25 , 2013 , we had one restaurant with an aggregate net book value of approximately $ 1.2 million , after taking into consideration impairment charges recorded , which had negative cash flows from operations for the most recent twelve months . restructuring and exit costs . as a result of changes in our organizational structure and in our portfolio of restaurants , we have recorded charges for restructuring and exit costs . these costs consist primarily of the costs of future obligations related to closed restaurants and severance and other restructuring charges for terminated employees . these costs are included as a component of operating ( gains ) , losses and other charges , net in our consolidated statements of income . discounted liabilities for future lease costs of closed restaurants , net of the fair value of related subleases , are recorded when the restaurants are closed . all other costs related to closed restaurants are expensed as incurred . in assessing the discounted liabilities for future costs of obligations related to closed restaurants , we make assumptions regarding amounts of future subleases . if these assumptions or their related estimates change in the future , we

cash flows used in financing activities were $ 51.2 million for the year ended december 25 , 2013 , which included a net debt reduction of $ 21.5 million , stock repurchases of $ 25.0 million and debt refinancing costs of $ 1.7 million . our working capital deficit was $ 20.3 million at december 25 , 2013 compared with $ 27.2 million at december 26 , 2012 . the decrease in working capital deficit is primarily related to the increase in deferred tax assets , which we plan to utilize in 2014 , and the decrease in the current maturities of long-term debt resulting from our debt refinancing . we are able to operate with a substantial working capital deficit because ( 1 ) restaurant operations and most food service operations are conducted primarily on a cash ( and cash equivalent ) basis with a low level of accounts receivable , ( 2 ) rapid turnover allows a limited investment in inventories and ( 3 ) accounts payable for food , beverages and supplies usually become due after the receipt of cash from the related sales . refinancing of credit facility on april 24 , 2013 , denny 's corporation and certain of its subsidiaries refinanced our credit facility ( the `` old credit facility '' ) and entered into a new senior secured credit agreement in an aggregate principal amount of $ 250 million ( the “ new credit facility ” ) . the new credit facility is comprised of a $ 60 million senior secured term loan and a $ 190 million senior secured revolver ( with a $ 30 million letter of credit sublimit ) .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```cash flows used in financing activities were $ 51.2 million for the year ended december 25 , 2013 , which included a net debt reduction of $ 21.5 million , stock repurchases of $ 25.0 million and debt refinancing costs of $ 1.7 million . our working capital deficit was $ 20.3 million at december 25 , 2013 compared with $ 27.2 million at december 26 , 2012 . the decrease in working capital deficit is primarily related to the increase in deferred tax assets , which we plan to utilize in 2014 , and the decrease in the current maturities of long-term debt resulting from our debt refinancing . we are able to operate with a substantial working capital deficit because ( 1 ) restaurant operations and most food service operations are conducted primarily on a cash ( and cash equivalent ) basis with a low level of accounts receivable , ( 2 ) rapid turnover allows a limited investment in inventories and ( 3 ) accounts payable for food , beverages and supplies usually become due after the receipt of cash from the related sales . refinancing of credit facility on april 24 , 2013 , denny 's corporation and certain of its subsidiaries refinanced our credit facility ( the `` old credit facility '' ) and entered into a new senior secured credit agreement in an aggregate principal amount of $ 250 million ( the “ new credit facility ” ) . the new credit facility is comprised of a $ 60 million senior secured term loan and a $ 190 million senior secured revolver ( with a $ 30 million letter of credit sublimit ) .
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 Suspicious Activity Report : as a result of the development efforts described above , over the past seven years we have transitioned from a restaurant portfolio mix of 66 % franchised and 34 % company operated to a restaurant portfolio mix of 90 % franchised and 10 % company operated at december 25 , 2013. now that we have achieved our mix target , we expect that our percentage of company operated restaurants will gradually decrease , as the majority of our future unit growth will be through franchised restaurants . 20 specifically , our focus on refranchising has impacted our financial performance as follows : company restaurant sales have decreased from $ 411.6 million in 2011 to $ 328.3 million in 2013 , primarily as a result of the sale of restaurants to franchisees . the decline in company restaurant revenues is partially offset by increased royalty income derived from the growth in the franchised restaurant base resulting from both traditional development and the conversion of restaurants . as a result , royalty income , which is included as a component of franchise and license revenue , has increased from $ 79.2 million in 2011 to $ 85.5 million in 2013 . the resulting net reduction in total revenue related to our fgi program is generally recovered by the benefits of a lower cost structure related to franchise and license revenues , a decrease in depreciation and amortization ( from $ 28.0 million in 2011 to $ 21.5 million in 2013 ) due to the sale of restaurant related assets to franchisees and lower ongoing capital expenditure requirements and a reduction in interest expense ( from $ 20.0 million in 2011 to $ 10.3 million in 2013 ) resulting from the use of proceeds to reduce debt . see `` debt and refinancing and reductions `` below . initial franchise fees , included as a component of franchise and license revenue , are generally recognized in the period in which a restaurant is sold to a franchisee or when a new unit is opened . these initial fees are completely dependent on the number of restaurants sold to or opened by franchisees during a particular period and , as a result , can cause fluctuations in our total franchise and license revenue from year to year . occupancy revenues , also included as a component of franchise and license revenue , result from leasing or subleasing restaurants to franchisees . as a result of our fgi program , occupancy revenues have increased from $ 44.5 million in 2011 to $ 47.1 million in 2013 . additionally , when restaurants are sold and leased or subleased to franchisees , the occupancy costs related to these restaurants move from costs of company restaurant sales to costs of franchise and license revenue to match the related occupancy revenue . as subleases with franchisees end over time , franchise occupancy revenue and costs could decrease if franchisees enter into direct leases with landlords . gains on sales of assets are primarily dependent on the number of restaurants sold to franchisees during a particular period , and as a result , can cause fluctuations in net income from year to year . with the completion of our fgi program , gains on sales of assets have decreased . debt refinancing and reductions over the past several years , we have continued to reduce interest expense through a series of debt refinancings and repayments using the proceeds generated from our fgi transactions , sales of real estate and cash flow from operations . these repayments resulted in an overall debt reduction of approximately $ 42 million in 2011 , $ 28 million in 2012 and $ 17 million in 2013. during the second quarter of 2013 , we refinanced our credit facility ( the `` new credit facility `` ) principally to take advantage of lower interest rates available in the senior secured debt market . borrowings for the new term loan bear a tiered interest rate based on the company 's consolidated leverage ratio . our interest rate was initially set at libor plus 200 basis points . for more information , see `` management 's discussion and analysis of financial condition and results of operations - liquidity and capital resources - credit facility . `` the combination of lower debt balances and lower overall interest rates on our debt should continue to positively benefit our financial performance on an ongoing basis . share repurchases our credit facility permits the payment of cash dividends and or the purchase of denny 's stock subject to certain limitations . during 2013 , we repurchased 4.2 million shares of common stock for $ 24.7 million . since initiating our share repurchase programs in november 2010 , we have repurchased a total of 15.8 million shares of common stock for $ 72.3 million . as of december 25 , 2013 , there are 9.2 million shares remaining to be repurchased under the current repurchase program . for more information see `` market for registrant 's common equity , related stockholder matters and issuer purchases of equity securities - dividends and share repurchases . `` repurchased shares are included as treasury stock in the consolidated balance sheets and the consolidated statements of shareholders ' equity . 21 statements of income replace_table_token_9_th ( a ) costs of company restaurant sales percentages are as a percentage of company restaurant sales . costs of franchise and license revenue percentages are as a percentage of franchise and license revenue . all other percentages are as a percentage of total operating revenue . ( b ) equivalent units are calculated as the weighted average number of units outstanding during a defined time period . ( c ) same-store sales include sales from restaurants that were open the same period in the prior year . ( d ) prior year amounts have not been restated for 2013 comparable restaurants . story_separator_special_tag at december 25 , 2013 , there were no unrecognized tax benefits including potential interest and penalties . off-balance sheet arrangements except for operating leases entered into the normal course of business , we do not have any off balance sheet arrangements . critical accounting policies and estimates our discussion and analysis of our financial condition and results of operations are based upon our consolidated financial statements , which have been prepared in accordance with u.s. generally accepted accounting principles . the preparation of these financial statements requires us to make estimates and judgments that affect the reported amounts of assets , liabilities , revenues and expenses , and related disclosure of contingent assets and liabilities . on an ongoing basis , we evaluate our estimates , including those related to self-insurance liabilities , impairment of long-lived assets , restructuring and exit costs , income taxes and share-based compensation . we base our estimates on historical experience and on various other assumptions that we believe to be reasonable under the circumstances , the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources . actual results may differ from these estimates under different assumptions or conditions ; however , we believe that our estimates , including those for the above-described items , are reasonable . we believe the following critical accounting policies affect our more significant judgments and estimates used in the preparation of our consolidated financial statements : self-insurance liabilities . we record liabilities for insurance claims during periods in which we have been insured under large deductible programs or have been self-insured for our medical and dental claims and workers ' compensation , general/product and automobile insurance liabilities . maximum self-insured retention , including defense costs per occurrence , ranges from $ 0.5 million to $ 1.0 million per individual claim for workers ' compensation and for general/product and automobile liability . the liabilities for prior and current estimated incurred losses are discounted to their present value based on expected loss payment patterns determined by independent actuaries using our actual historical payments . these estimates include assumptions regarding claims frequency and severity as well as changes in our business environment , medical costs and the regulatory environment that could impact our overall self-insurance costs . total discounted workers ' compensation and general liability insurance liabilities at december 25 , 2013 and december 26 , 2012 were $ 23.8 million and $ 23.2 million , respectively , with each reflecting a 1.0 % discount rate . the related undiscounted amounts at such dates were $ 24.4 million and $ 23.8 million , respectively . impairment of long-lived assets . we evaluate our long-lived assets for impairment at the restaurant level on a quarterly basis , when assets are identified as held for sale or whenever changes or events indicate that the carrying value may not be recoverable . for assets identified as held for sale , we use the market approach and consider proceeds from similar asset sales . we assess impairment of restaurant-level assets based on the operating cash flows of the restaurant , expected proceeds from the sale of assets and our plans for restaurant closings . generally , all restaurants with negative cash flows from operations for the most recent twelve months at each quarter end are included in our assessment . for underperforming assets , we use the income approach to determine both the recoverability and estimated fair value of the assets . to estimate future cash flows we make certain assumptions about expected future operating performance , such as revenue growth , operating margins , risk-adjusted discount rates , and future economic and market conditions . if the long-lived assets of a restaurant are not recoverable based upon estimated future , undiscounted cash flows , we write the assets down to their fair value . if these estimates or their related assumptions change in the future , we may be required to record additional impairment charges . these charges are included as a component of operating ( gains ) , losses and other charges , net in our consolidated statements of income . 33 during 2013 , 2012 and 2011 , we recorded impairment charges of $ 5.7 million , $ 3.7 million and $ 4.1 million , respectively , for underperforming restaurants , including restaurants closed and company restaurants classified as held for sale . these charges are included as a component of operating ( gains ) , losses and other charges , net in our consolidated statements of income . generally , all restaurants with negative cash flows from operations for the most recent twelve months at each quarter end are included in our assessment . at december 25 , 2013 , we had one restaurant with an aggregate net book value of approximately $ 1.2 million , after taking into consideration impairment charges recorded , which had negative cash flows from operations for the most recent twelve months . restructuring and exit costs . as a result of changes in our organizational structure and in our portfolio of restaurants , we have recorded charges for restructuring and exit costs . these costs consist primarily of the costs of future obligations related to closed restaurants and severance and other restructuring charges for terminated employees . these costs are included as a component of operating ( gains ) , losses and other charges , net in our consolidated statements of income . discounted liabilities for future lease costs of closed restaurants , net of the fair value of related subleases , are recorded when the restaurants are closed . all other costs related to closed restaurants are expensed as incurred . in assessing the discounted liabilities for future costs of obligations related to closed restaurants , we make assumptions regarding amounts of future subleases . if these assumptions or their related estimates change in the future , we

