XML 35 R13.htm IDEA: XBRL DOCUMENT v3.24.0.1
REVENUE
12 Months Ended
Dec. 27, 2023
Revenue from Contract with Customer [Abstract]  
REVENUE REVENUE
Revenue Recognition
Revenue disaggregated by type was as follows:
202320222021
Shack sales$1,046,819 $869,270 $714,989 
Licensing revenue:
Sales-based royalties39,853 30,204 24,150 
Initial territory and opening fees861 1,012 754 
Total revenue$1,087,533 $900,486 $739,893 
The aggregate amount of the transaction price allocated to performance obligations that were unsatisfied or partially unsatisfied as of December 27, 2023 was $23,690. The Company expects to recognize this amount as revenue over a long-term period, as the license term for each Shack ranges from 5 to 20 years. This amount excludes any variable consideration related to sales-based royalties.
Contract Balances
Contract liabilities and receivables from contracts with customers were as follows:
December 27
2023
December 28
2022
Shack sales receivables$9,884 $8,779 
Licensing receivables, net of allowance for doubtful accounts4,610 3,918 
Gift card liability2,603 2,285 
Deferred revenue, current1,192 969 
Deferred revenue, long-term17,157 14,340 
Revenue recognized that was included in the respective liability balances at the beginning of the period was as follows:
20232022
Gift card liability(1)
$634 $1,781 
Deferred revenue1,103 954 
(1)For fiscal 2022, amount includes the cumulative catch-up adjustment of $1,281 for gift card breakage income. Refer to Note 2, Summary of Significant Accounting Policies, for additional information.