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NON-CONTROLLING INTERESTS

12 Months Ended

Dec. 27, 2023

Noncontrolling Interest [Abstract]

NON-CONTROLLING INTERESTS

NON-CONTROLLING INTERESTS

Shake Shack is the primary beneficiary and 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:

			2023												2022
			LLC Interests						Ownership %						LLC Interests						Ownership %
Number of LLC Interests held by Shake Shack Inc.			39,474,315						93.3		%				39,284,998						93.2		%
Number of LLC Interests held by non-controlling interest holders			2,834,513						6.7		%				2,869,513						6.8		%
Total LLC Interests outstanding			42,308,828						100.0		%				42,154,511						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 the non-controlling interest holders.

			2023						2022						2021
Non-controlling interest holders' weighted average ownership percentages			6.7		%				6.9		%				7.0		%

The following table summarizes the effects of changes in ownership of SSE Holdings on the Company's equity:

												(As Restated)						(As Restated)
						2023						2022						2021
Net income (loss) attributable to Shake Shack Inc.						$	20,264					$	(21,229)					$	(4,561)
Other comprehensive income (loss):
			Unrealized holding loss on foreign currency translation adjustment			(3)						(1)						(2)
Transfers (to) from non-controlling interests:
			Increase in additional paid-in capital as a result of the redemption of LLC Interests			265						313						33
			Increase (decrease) in additional paid-in capital as a result of activity under stock compensation plan			(3,271)						(2,978)						1,829
Total effect of changes in ownership interest on equity (loss) attributable to Shake Shack Inc.						$	17,255					$	(23,895)					$	(2,701)

The following table summarizes the LLC Interests activity:

						2023						2022						2021
LLC Interests activity under the Company's stock compensation plan
			Number of LLC Interests received by Shake Shack Inc.			154,317						90,527						395,006
Redemption and acquisition of LLC Interests
			Number of LLC Interests redeemed by non-controlling interest holders			35,000						52,074						29,601
			Number of LLC Interests received by Shake Shack Inc.			35,000						52,074						29,601
Issuance of Class A common stock
			Shares of Class A common stock issued in connection with redemptions of LLC Interests			35,000						52,074						29,601
Cancellation of Class B common stock
			Shares of Class B common stock surrendered and canceled			35,000						52,074						29,601

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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
-Topic 810
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//810/tableOfContent

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- References

No definition available.

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