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FAIR VALUE MEASUREMENTS
 12 Months Ended
Dec. 30, 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 December 30, 2020 and December 25, 2019, and indicate the classification within the fair value hierarchy. Refer to Note 2, Summary of Significant Accounting Policies, for further information.
Cash and Cash Equivalents and Marketable Securities
The following tables summarize our Cash and cash equivalents and Marketable securities by significant investment categories as of December 30, 2020 and December 25, 2019:
December 30, 2020
Cost Basis Gross Unrealized Gains Gross Unrealized Losses Fair Value Cash and Cash EquivalentsMarketable Securities
Cash$146,873 $— $— $146,873 $146,873 $— 
Level 1:
Money market funds— — — — — — 
Mutual funds36,874 13 — 36,887 — 36,887 
Total$183,747 $13 $— $183,760 $146,873 $36,887 
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 from equity securities recognized during fiscal 2020, fiscal 2019 and fiscal 2018 is as follows:
202020192018
Equity securities:
Dividend income$359 $1,244 $1,392 
Interest income— — 9 
Realized gain (loss) on sale of investments79 22 (3)
Unrealized gain (loss) on equity securities(59)194 (61)
Total$379 $1,460 $1,337 
A summary of equity securities sold and gross realized gains and losses recognized during fiscal 2020, fiscal 2019 and fiscal 2018 is as follows:
202020192018
Equity securities:
Gross proceeds from sales and redemptions$20,000 $27,000 $2,144 
Cost basis of sales and redemptions19,921 26,978 2,160 
Gross realized gains included in net income (loss)79 36 2 
Gross realized losses included in net income (loss)— (14)(18)
Amounts reclassified out of accumulated other comprehensive loss— — 16 
Realized gains and losses are determined on a specific identification method and are included in Other income (expense), net on the Consolidated Statements of Income (Loss).
We periodically review our marketable securities for other-than-temporary impairment. We consider factors such as the duration, severity and the reason for the decline in value, the potential recovery period and our intent to sell. As of December 30, 2020 and December 25, 2019, the declines in the market value of our marketable securities investment portfolio are considered to be temporary in nature.
Other Financial Instruments
The carrying value of our financial instruments, including accounts receivable, accounts payable and accrued expenses as of December 30, 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. When the Company evaluates its long-lived assets for impairment, the assessment is performed for the related asset group that represents the lowest level for which identifiable cash flows are independent of the cash flows of other assets. This determination requires judgment, and is dependent on the Company's overall operating strategy. During fiscal 2020, we recognized an impairment charge of $7,644 at two Shacks, as well as our home office. Of the total impairment charge, $5,698 was attributed to operating lease right-of-use assets, $1,893 was attributed to property and equipment held and used, and $53 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 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 impairments recognized during fiscal 2019 and fiscal 2018.