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NON-CONTROLLING INTERESTS

3 Months Ended

Mar. 30, 2022

Noncontrolling Interest [Abstract]

NON-CONTROLLING INTERESTS

NON-CONTROLLING INTERESTS

Shake Shack is the sole managing member of SSE Holdings and, as a result, consolidates the financial results of SSE Holdings. The Company reports a non-controlling interest representing the economic interest in SSE Holdings held by the other members of SSE Holdings. The Third Amended and Restated Limited Liability Company Agreement, as further amended, (the "LLC Agreement") of SSE Holdings provides that holders of LLC Interests may, from time to time, require SSE Holdings to redeem all or a portion of their LLC Interests for newly-issued shares of Class A common stock on a one-for-one basis. In connection with any redemption or exchange, the Company will receive a corresponding number of LLC Interests, increasing the total ownership interest in SSE Holdings. Changes in the ownership interest in SSE Holdings while the Company retains its controlling interest in SSE Holdings will be accounted for as equity transactions. As such, future redemptions or direct exchanges of LLC Interests in SSE Holdings by the other members of SSE Holdings will result in a change in ownership and reduce the amount recorded as non-controlling interest and increase additional paid-in capital.

The following table summarizes the ownership interest in SSE Holdings as of March 30, 2022 and December 29, 2021.

			March 30, 2022												December 29, 2021
			LLC Interests						Ownership %						LLC Interests						Ownership %
Number of LLC Interests held by Shake Shack Inc.			39,218,290						93.1		%				39,142,397						93.1		%
Number of LLC Interests held by non-controlling interest holders			2,911,587						6.9		%				2,921,587						6.9		%
Total LLC Interests outstanding			42,129,877						100.0		%				42,063,984						100.0		%

The weighted average ownership percentages for the applicable reporting periods are used to attribute Net income (loss) and Other comprehensive income (loss) to Shake Shack Inc. and the non-controlling interest holders. The non-controlling interest holders' weighted average ownership percentage for the thirteen weeks ended March 30, 2022 and March 31, 2021 was 6.9% and 7.0%, respectively.

The following table summarizes the effects of changes in ownership of SSE Holdings on the Company's equity during the thirteen weeks ended March 30, 2022 and March 31, 2021.

						Thirteen Weeks Ended
						March 30 2022						March 31 2021
Net income (loss) attributable to Shake Shack Inc.						$	(10,162)					$	1,309
Other comprehensive income (loss):
			Unrealized loss on foreign currency translation adjustment			(1)						(1)
Transfers (to) from non-controlling interests:
			Increase in additional paid-in capital as a result of the redemption of LLC Interests			49						36
			Increase (decrease) in additional paid-in capital as a result of activity under stock compensation plans and the related income tax effects			(2,276)						3,359
Total effect of changes in ownership interest on equity (loss) attributable to Shake Shack Inc.						$	(12,390)					$	4,703

The following table summarizes redemptions of LLC Interests activity during the thirteen weeks ended March 30, 2022 and March 31, 2021.

						Thirteen Weeks Ended
						March 30 2022						March 31 2021
Redemption and acquisition of LLC Interests
			Number of LLC Interests redeemed by non-controlling interest holders			10,000						29,600
			Number of LLC Interests received by Shake Shack Inc.			10,000						29,600
Issuance of Class A common stock
			Shares of Class A common stock issued in connection with redemptions of LLC Interests			10,000						29,600
Cancellation of Class B common stock
			Shares of Class B common stock surrendered and canceled			10,000						29,600

During the thirteen weeks ended March 30, 2022 and March 31, 2021, the Company received an aggregate of 65,893 and 355,849 LLC Interests, respectively, in connection with the activity under its stock compensation plans.

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- Definition

The entire disclosure for noncontrolling interest in consolidated subsidiaries, which could include the name of the subsidiary, the ownership percentage held by the parent, the ownership percentage held by the noncontrolling owners, the amount of the noncontrolling interest, the location of this amount on the balance sheet (when not reported separately), an explanation of the increase or decrease in the amount of the noncontrolling interest, the noncontrolling interest share of the net Income or Loss of the subsidiary, the location of this amount on the income statement (when not reported separately), the nature of the noncontrolling interest such as background information and terms, the amount of the noncontrolling interest represented by preferred stock, a description of the preferred stock, and the dividend requirements of the preferred stock.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-URI http://asc.fasb.org/topic&trid=2197479

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- References

No definition available.

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