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FAIR VALUE MEASUREMENTS
 9 Months Ended
Sep. 23, 2020
Fair Value Disclosures [Abstract]  
FAIR VALUE MEASUREMENTS FAIR VALUE MEASUREMENTS
Assets and Liabilities Measured at Fair Value on a Recurring Basis
The following tables present information about our financial assets and liabilities measured at fair value on a recurring basis as of September 23, 2020 and December 25, 2019, and indicate the classification within the fair value hierarchy.
Cash, Cash Equivalents and Marketable Securities
The following tables summarize our cash, cash equivalents and marketable securities by significant investment categories as of September 23, 2020 and December 25, 2019:
September 23, 2020
Cost Basis Gross Unrealized Gains Gross Unrealized Losses Fair Value Cash and Cash EquivalentsMarketable Securities
Cash$174,883 $— $— $174,883 $174,883 $— 
Level 1:
Money market funds— — — — — — 
Mutual funds16,829 50 — 16,879 — 16,879 
Total$191,712 $50 $— $191,762 $174,883 $16,879 
December 25, 2019
Cost Basis Gross Unrealized Gains Gross Unrealized Losses Fair Value Cash and Cash EquivalentsMarketable Securities
Cash$32,094 $— $— $32,094 $32,094 $— 
Level 1:
Money market funds5,005 — — 5,005 5,005 — 
Mutual funds36,436 72 — 36,508 — 36,508 
Total$73,535 $72 $— $73,607 $37,099 $36,508 

A summary of other income (loss) from equity securities recognized during the thirteen and thirty-nine weeks ended September 23, 2020 and September 25, 2019 is as follows:
Thirteen Weeks EndedThirty-Nine Weeks Ended
September 23
2020		September 25
2019		September 23
2020		September 25
2019
Equity securities:
Dividend income$40 $254 $290 $997 
Realized gain (loss) on sale of investments— — 79 22 
Unrealized gain (loss) on equity securities— — (22)231 
Total$40 $254 $347 $1,250 
A summary of equity securities sold and gross realized gains and losses recognized during the thirteen and thirty-nine weeks ended September 23, 2020 and September 25, 2019 is as follows:
Thirteen Weeks EndedThirty-Nine Weeks Ended
September 23
2020		September 25
2019		September 23
2020		September 25
2019
Equity securities:
Gross proceeds from sales and redemptions$— $— $20,000 $27,000 
Cost basis of sales and redemptions— — 19,921 26,978 
Gross realized gains included in net income (loss)— — 79 36 
Gross realized losses included in net income (loss)— — — (14)
Realized gains and losses are determined on a specific identification method and are included in other income, net on the Condensed Consolidated Statements of Income (Loss). As of September 23, 2020 and December 25, 2019, there was no decline in the market value of our marketable securities investment portfolio.
Other Financial Instruments
The carrying value of our other financial instruments, including accounts receivable, accounts payable, and accrued expenses as of September 23, 2020 and December 25, 2019 approximated their fair value due to the short-term nature of these financial instruments.
Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis
Assets and liabilities that are measured at fair value on a non-recurring basis include our long-lived assets, operating lease right-of-use assets and indefinite-lived intangible assets. During the thirty-nine weeks ended September 23, 2020, we recognized an impairment charge of $1,132 at one location. Of the total impairment charge, $736 was attributed to property and equipment held and used, $383 was attributed to operating lease right-of-use assets, and $13 was attributed to finance lease right-of-use assets. The asset impairment charge is included in Impairment and loss on disposal of assets on the Condensed Consolidated Statement of Income (Loss). The fair values of assets were determined using an income-based approach and are classified as Level 3 within the fair value hierarchy. Significant inputs include projections of future cash flows, discount rates, Shack sales and profitability. There were no impairment charges recognized during the thirteen weeks ended September 23, 2020, and the thirteen and thirty-nine weeks ended September 25, 2019.