Shake Shack (SHAK) 10-Q 4 Nov 19 2019 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information Document and Entity Information - shares	9 Months Ended
	Sep. 25, 2019	Oct. 23, 2019
Document Information [Line Items]
Security Exchange Name	NYSE
Trading Symbol	SHAK
Title of 12(b) Security	Class A Common Stock, par value $0.001
Entity Interactive Data Current	Yes
Local Phone Number	747-7200
City Area Code	646
Entity Address, Postal Zip Code	10014
Entity Tax Identification Number	47-1941186
Entity Incorporation, State or Country Code	DE
Entity File Number	001-36823
Document Transition Report	false
Document Quarterly Report	true
Document type	10-Q
Amendment flag	false
Document Period End Date	Sep. 25, 2019
Document fiscal year focus	2019
Document fiscal period focus	Q3
Entity registrant name	SHAKE SHACK INC.
Entity Address, Address Line One	225 Varick Street
Entity Address, Address Line Two	Suite 301
Entity Address, City or Town	New York,
Entity Address, State or Province	NY
Entity central index key	0001620533
Current fiscal year end date	--12-25
Entity filer category	Large Accelerated Filer
Entity current reporting status	Yes
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Shell Company	false
Class A Common Stock
Document Information [Line Items]
Entity common stock, shares outstanding (in shares)		33,751,698
Class B Common Stock
Document Information [Line Items]
Entity common stock, shares outstanding (in shares)		3,769,649

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Thousands	Sep. 25, 2019	Dec. 26, 2018
Current assets:
Cash and cash equivalents	$ 44,505	$ 24,750
Marketable securities	36,336	62,113
Accounts receivable	15,094	10,523
Inventories	1,782	1,749
Prepaid expenses and other current assets	1,723	1,984
Total current assets	99,440	101,119
Property and equipment, net	304,350	261,854
Operating lease assets	279,975	0
Deferred income taxes, net	268,855	242,533
Other assets	10,652	5,026
TOTAL ASSETS	963,272	610,532
Current liabilities:
Accounts payable	15,865	12,467
Accrued expenses	27,977	22,799
Accrued wages and related liabilities	9,737	10,652
Operating Lease, Liability, Current	26,441	0
Other current liabilities	15,951	14,030
Total current liabilities	95,971	59,948
Deemed landlord financing	0	20,846
Deferred rent	0	47,864
Operating Lease, Liability, Noncurrent	316,161	0
Liabilities under tax receivable agreement, net of current portion	217,935	197,921
Other long-term liabilities	14,910	10,498
Total liabilities	644,977	337,077
Commitments and contingencies
Stockholders' equity:
Preferred stock, no par value—10,000,000 shares authorized; none issued and outstanding as of June 26, 2019 and December 26, 2018.	0	0
Additional paid-in capital	234,118	195,633
Retained earnings	56,460	30,404
Total stockholders' equity attributable to Shake Shack Inc.	290,616	226,075
Non-controlling interests	27,679	47,380
Total equity	318,295	273,455
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	963,272	610,532
Class A Common Stock
Stockholders' equity:
Common stock	34	30
Class B Common Stock
Stockholders' equity:
Common stock	$ 4	$ 8

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parenthetical) - $ / shares	Sep. 25, 2019	Dec. 26, 2018
Preferred Stock, no par value (in dollars per share)	$ 0	$ 0
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Class A Common Stock
Common stock par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	200,000,000	200,000,000
Common stock, shares, issued (in shares)	33,651,950	29,520,833
Common stock, shares, outstanding (in shares)	33,651,950	29,520,833
Class B Common Stock
Common stock par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	35,000,000	35,000,000
Common stock, shares, issued (in shares)	3,809,347	7,557,347
Common stock, shares, outstanding (in shares)	3,809,347	7,557,347

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENT OF INCOME (UNAUDITED) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 25, 2019	Sep. 26, 2018	Sep. 25, 2019	Sep. 26, 2018
Document Period End Date			Sep. 25, 2019
TOTAL REVENUE	$ 157,762	$ 119,647	$ 443,084	$ 335,045
Shack-level operating expenses:
Food and paper costs	44,159	32,703	125,049	91,336
Labor and related expenses	41,601	31,232	118,891	87,651
Other operating expenses	18,947	13,496	51,270	36,536
Occupancy and related expenses	12,537	8,545	35,309	23,621
General and administrative expenses	17,090	13,151	46,420	37,547
Depreciation expense	10,474	7,439	29,239	20,905
Pre-opening costs	4,487	3,581	10,678	8,031
Loss on disposal of property and equipment	303	157	1,031	543
TOTAL EXPENSES	149,598	110,304	417,887	306,170
OPERATING INCOME	8,164	9,343	25,197	28,875
Other income, net	248	436	1,259	1,070
Interest expense	(133)	(592)	(302)	(1,770)
INCOME BEFORE INCOME TAXES	8,279	9,187	26,154	28,175
Income tax expense	(3,144)	2,241	(47)	5,679
NET INCOME	11,423	6,946	26,201	22,496
Less: net income attributable to non-controlling interests	1,079	1,921	4,281	6,359
NET INCOME ATTRIBUTABLE TO SHAKE SHACK INC.	$ 10,344	$ 5,025	$ 21,920	$ 16,137
Earnings per share of Class A common stock:
Basic (in dollars per share)	$ 0.32	$ 0.17	$ 0.72	$ 0.58
Diluted (in dollars per share)	$ 0.31	$ 0.17	$ 0.70	$ 0.56
Weighted-average shares of Class A common stock outstanding:
Basic (in shares)	31,961	28,954	30,549	27,930
Diluted (in shares)	32,916	29,883	31,441	28,820
Shack sales
TOTAL REVENUE	$ 152,366	$ 115,882	$ 428,811	$ 324,869
Licensing revenue
TOTAL REVENUE	$ 5,396	$ 3,765	$ 14,273	$ 10,176

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 25, 2019	Sep. 26, 2018	Sep. 25, 2019	Sep. 26, 2018
Statement of Comprehensive Income [Abstract]
Net income		$ 11,423	$ 6,946	$ 26,201	$ 22,496
Available-for-sale securities:
Change in net unrealized holding gains (losses)	[1]	0	0	0	(3)
Less: reclassification adjustments for net realized losses included in net income	[1]	0	0	0	16
Net change		0	0	0	13
OTHER COMPREHENSIVE INCOME		0	0	0	13
COMPREHENSIVE INCOME		11,423	6,946	26,201	22,509
Less: comprehensive income attributable to non-controlling interest		1,079	1,921	4,281	6,362
COMPREHENSIVE INCOME ATTRIBUTABLE TO SHAKE SHACK INC.		$ 10,344	$ 5,025	$ 21,920	$ 16,147
[1]	Net of tax benefit (expense) of $0 for the thirteen and thirty-nine weeks ended September 25, 2019 and September 26, 2018

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) (Parenthetical) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 25, 2019	Sep. 26, 2018	Sep. 25, 2019	Sep. 26, 2018
Statement of Comprehensive Income [Abstract]
Income tax benefit	$ 0	$ 0	$ 0	$ 0

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY (UNAUDITED) - USD ($) $ in Thousands	Total	Class A Common Stock	Class B Common Stock	Common Stock [Member]Class A Common Stock	Common Stock [Member]Class B Common Stock	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Non- Controlling Interest
Beginning balance (shares) at Dec. 27, 2017				26,527,477	10,250,007
Beginning balance at Dec. 27, 2017	$ 224,479			$ 27	$ 10	$ 153,105	$ 16,399	$ (49)	$ 54,987
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	22,496						16,137		6,359
Other comprehensive income:
Net change related to available-for-sale securities	13							10	3
Equity-based compensation	4,534					4,534
Activity under stock compensation plans (in shares)				282,792
Activity under stock compensation plans	4,154					2,318			1,836
Redemption of LLC Interests (in shares)				(2,561,086)	(2,561,086)
Redemption of LLC Interests	0			$ (2)	$ (2)	(14,633)			(14,633)
Establishment of liabilities under tax receivable agreement and related changes to deferred tax assets associated with increases in tax basis	18,170					18,170
Distributions paid to non-controlling interest holders	(692)								(692)
Ending balance (shares) at Sep. 26, 2018				29,371,355	7,688,921
Ending balance at Sep. 26, 2018	271,580			$ 29	$ 8	192,760	31,362	0	47,421
Beginning balance (shares) at Jun. 27, 2018				28,106,331	8,924,592
Beginning balance at Jun. 27, 2018	256,447			$ 28	$ 9	177,650	26,337	0	52,423
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	6,946						5,025		1,921
Other comprehensive income:
Net change related to available-for-sale securities	0							0
Equity-based compensation	1,661					1,661
Activity under stock compensation plans (in shares)				29,353
Activity under stock compensation plans	588					215			373
Redemption of LLC Interests (in shares)				(1,235,671)	(1,235,671)
Redemption of LLC Interests	0			$ (1)	$ (1)	(7,274)			(7,274)
Establishment of liabilities under tax receivable agreement and related changes to deferred tax assets associated with increases in tax basis	5,960					5,960
Distributions paid to non-controlling interest holders	(22)								(22)
Ending balance (shares) at Sep. 26, 2018				29,371,355	7,688,921
Ending balance at Sep. 26, 2018	271,580			$ 29	$ 8	192,760	31,362	0	47,421
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cumulative effect of accounting changes | Adjustments for New Accounting Pronouncement	(1,574)						(1,174)	39	(439)
Beginning balance (shares) at Dec. 26, 2018		29,520,833	7,557,347	29,520,833	7,557,347
Beginning balance at Dec. 26, 2018	273,455			$ 30	$ 8	195,633	30,404	0	47,380
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	26,201						21,920		4,281
Other comprehensive income:
Net change related to available-for-sale securities	0							0	0
Equity-based compensation	5,918					5,918
Activity under stock compensation plans (in shares)				383,117
Activity under stock compensation plans	5,716					2,718			2,998
Redemption of LLC Interests (in shares)				(1,057,737)	(1,057,737)
Redemption of LLC Interests	0			$ (1)	$ (1)	(7,115)			(7,115)
Effect of Gramercy Tavern Merger, Shares, Conversion of Unit				2,690,263	(2,690,263)
Effect of Gramercy Tavern Merger, Value, Conversion of Units				$ (3)	$ 3	(19,218)			(19,218)
Establishment of liabilities under tax receivable agreement and related changes to deferred tax assets associated with increases in tax basis	3,516					3,516
Distributions paid to non-controlling interest holders	(1,706)								(1,706)
Ending balance (shares) at Sep. 25, 2019		33,651,950	3,809,347	33,651,950	3,809,347
Ending balance at Sep. 25, 2019	318,295			$ 34	$ 4	234,118	56,460	0	27,679
Beginning balance (shares) at Jun. 26, 2019				30,557,685	6,731,209
Beginning balance at Jun. 26, 2019	300,673			$ 31	$ 7	208,866	46,116	0	45,653
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	11,423						10,344		1,079
Other comprehensive income:
Net change related to available-for-sale securities	0							0
Equity-based compensation	1,908					1,908
Activity under stock compensation plans (in shares)				172,403
Activity under stock compensation plans	3,625					1,786			1,839
Redemption of LLC Interests (in shares)				(231,599)	(231,599)
Redemption of LLC Interests	$ 0			$ 0	$ 0	(1,635)			(1,635)
Effect of Gramercy Tavern Merger, Shares, Conversion of Unit	2,690,263			2,690,263	(2,690,263)
Effect of Gramercy Tavern Merger, Value, Conversion of Units				$ (3)	$ 3	(19,218)			(19,218)
Establishment of liabilities under tax receivable agreement and related changes to deferred tax assets associated with increases in tax basis	$ 705					705
Distributions paid to non-controlling interest holders	(39)								(39)
Ending balance (shares) at Sep. 25, 2019		33,651,950	3,809,347	33,651,950	3,809,347
Ending balance at Sep. 25, 2019	318,295			$ 34	$ 4	$ 234,118	56,460	0	27,679
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cumulative effect of accounting changes | Adjustments for New Accounting Pronouncement	$ 5,195						$ 4,136		$ 1,059

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 25, 2019	Sep. 26, 2018
Document Period End Date	Sep. 25, 2019
Payments of Financing Costs	$ 286	$ 0
Finance Lease, Principal Payments	(1,433)	0
OPERATING ACTIVITIES
Net income (including amounts attributable to non-controlling interests)	26,201	22,496
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation expense	29,239	20,905
Capitalized Computer Software, Amortization	107	$ 0
Non-cash operating lease cost	$ 29,329
Noncontrolling Interest, Weighted Average Ownership Percentage	17.90%	24.40%
Equity-based compensation	$ 5,751	$ 4,470
Deferred income taxes	(1,152)	1,996
Non-cash interest expense	85	72
(Gain) loss on sale of marketable securities	(22)	16
Loss on disposal of property and equipment	1,031	543
Unrealized (gain) loss on available-for-sale securities	(231)	(1)
Other non-cash expense	2	0
Net loss on sublease	0	672
Changes in operating assets and liabilities:
Accounts receivable	8,320	3,015
Inventories	(33)	(120)
Prepaid expenses and other current assets	265	(540)
Other assets	(6,735)	(895)
Accounts payable	4,038	437
Accrued expenses	2,841	3,860
Accrued wages and related liabilities	(915)	1,768
Other current liabilities	638	89
Deferred rent	0	786
Long-term operating lease liabilities	(26,932)	0
Other long-term liabilities	1,216	3,216
NET CASH PROVIDED BY OPERATING ACTIVITIES	73,043	62,785
INVESTING ACTIVITIES
Purchases of property and equipment	(80,904)	(60,144)
Purchases of marketable securities	(970)	(910)
Sales of marketable securities	27,000	2,144
NET CASH USED IN INVESTING ACTIVITIES	(54,874)	(58,910)
FINANCING ACTIVITIES
Proceeds from deemed landlord financing	0	793
Payments on deemed landlord financing	0	(342)
Distributions paid to non-controlling interest holders	(1,706)	(692)
Payments under tax receivable agreement	(707)	0
Proceeds from stock option exercises	7,089	5,103
Payment, Tax Withholding, Share-based Payment Arrangement	(1,371)	(949)
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES	1,586	3,913
NET INCREASE IN CASH AND CASH EQUIVALENTS	19,755	7,788
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	24,750	21,507
CASH AND CASH EQUIVALENTS AT END OF PERIOD	$ 44,505	$ 29,295

NATURE OF OPERATIONS

NATURE OF OPERATIONS	9 Months Ended
	Sep. 25, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
NATURE OF OPERATIONS	NATURE OF OPERATIONS Shake Shack Inc. ("we," "us," "our," "Shake Shack" and the "Company") was formed on September 23, 2014 as a Delaware corporation for the purpose of facilitating an initial public offering and other related transactions in order to carry on the business of SSE Holdings, LLC and its subsidiaries ("SSE Holdings"). W e are the sole managing member of SSE Holdings and, as sole managing member, we operate and control all of the business and affairs of SSE Holdings. As a result, we consolidate the financial results of SSE Holdings and report a non-controlling interest representing the economic interest in SSE Holdings held by the other members of SSE Holdings. As of September 25, 2019 we owned 89.8% of SSE Holdings. Unless the context otherwise requires, "we," "us," "our," "Shake Shack," the "Company" and other similar references, refer to Shake Shack Inc. and, unless otherwise stated, all of its subsidiaries, including SSE Holdings. We operate and license Shake Shack restaurants ("Shacks"), which serve hamburgers, hot dogs, chicken, crinkle-cut fries, shakes, frozen custard, beer, wine and more. As of September 25, 2019 , there were 254 Shacks in operation, system-wide, of which 151 were domestic company-operated Shacks, 17 were domestic licensed Shacks and 86 were international licensed Shacks.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Sep. 25, 2019
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying unaudited condensed consolidated financial statements include the accounts of Shake Shack Inc. and its subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. These interim condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") and on a basis consistent in all material respects with the accounting policies described in our Annual Report on Form 10-K for the fiscal year ended December 26, 2018 ("2018 Form 10-K"). In our opinion, all adjustments, which are normal and recurring in nature, necessary for a fair presentation of our financial position and results of operation have been included. Operating results for interim periods are not necessarily indicative of the results that may be expected for a full fiscal year. The accompanying Condensed Consolidated Balance Sheet as of December 26, 2018 has been derived from the audited financial statements at that date but does not include all of the disclosures required by GAAP. These interim condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes thereto included in our 2018 Form 10-K. SSE Holdings is considered a variable interest entity. Shake Shack Inc. is the primary beneficiary as we have the majority economic interest in SSE Holdings and, as the sole managing member, have decision making authority that significantly affects the economic performance of the entity, while the limited partners have no substantive kick-out or participating rights. As a result, we consolidate SSE Holdings. The assets and liabilities of SSE Holdings represent substantially all of our consolidated assets and liabilities with the exception of certain deferred taxes and liabilities under the Tax Receivable Agreement. As of September 25, 2019 and December 26, 2018 , the net assets of SSE Holdings were $272,947 and $232,711 , respectively. The assets of SSE Holdings are subject to certain restrictions in SSE Holdings' revolving credit agreement. See Note 8 for more information. Fiscal Year We operate on a 52/53 week fiscal year ending on the last Wednesday in December. Fiscal 2019 contains 52 weeks and ends on December 25, 2019 . Fiscal 2018 contained 52 weeks and ended on December 26, 2018 . Unless otherwise stated, references to years in this report relate to fiscal years. Use of Estimates The preparation of these condensed consolidated financial statements in conformity with GAAP requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of sales and expenses during the reporting period. Actual results could differ from those estimates. Recently Adopted Accounting Pronouncements We adopted the Accounting Standards Updates (“ASUs”) summarized below in fiscal 2019. Accounting Standards Update (“ASU”) Description Date Adopted Leases (ASU's 2016-02, 2018-01, 2018-10, 2018-11) This standard establishes a new lease accounting model, which introduces the recognition of lease assets and liabilities for those leases classified as operating leases under previous GAAP. It was applied using a modified retrospective approach applied at the adoption date with the election of various practical expedients. See Note 9 Leases for more information. December 27, 2018

REVENUE

REVENUE	9 Months Ended
	Sep. 25, 2019
Revenue from Contract with Customer [Abstract]
REVENUE	REVENUE Revenue Recognition Revenue consists of Shack sales and licensing revenue. Generally, revenue is recognized as promised goods or services transfer to the guest or customer in an amount that reflects the consideration we expect to be entitled in exchange for those goods or services. Revenue from Shack sales is presented net of discounts and recognized when food, beverage and retail products are sold. Sales tax collected from customers is excluded from Shack sales and the obligation is included in sales tax payable until the taxes are remitted to the appropriate taxing authorities. Revenue from our gift cards is deferred and recognized upon redemption. Licensing revenues include initial territory fees, Shack opening fees, and ongoing sales-based royalty fees from licensed Shacks. Generally, the licenses granted to develop, open and operate each Shack in a specified territory are the predominant goods or services transferred to the licensee in our contracts, and represent distinct performance obligations. Ancillary promised services, such as training and assistance during the initial opening of a Shack, are typically combined with the licenses and considered as one performance obligation per Shack. We determine the transaction price for each contract, which is comprised of the initial territory fee, and an estimate of the total Shack opening fees we expect to be entitled to. The calculation of total Shack opening fees included in the transaction price requires judgment, as it is based on an estimate of the number of Shacks we expect the licensee to open. The transaction price is then allocated equally to each Shack expected to open. The performance obligations are satisfied over time, starting when a Shack opens, through the end of the term of the license granted to the Shack. Because we are transferring licenses to access our intellectual property during a contractual term, revenue is recognized on a straight-line basis over the license term. Generally, payment for the initial territory fee is received upon execution of the licensing agreement, and payment for the restaurant opening fees are received either in advance of or upon opening the related restaurant. These payments are initially deferred and recognized as revenue as the performance obligations are satisfied, which occurs over a long-term period. Revenue from sales-based royalties is recognized as the related sales occur. Revenue recognized during the thirteen and thirty-nine weeks ended September 25, 2019 and September 26, 2018 , disaggregated by type is as follows: Thirteen Weeks Ended Thirty-Nine Weeks Ended September 25 2019 September 26 September 25 2019 September 26 Shack sales $ 152,366 $ 115,882 $ 428,811 $ 324,869 Licensing revenue: Sales-based royalties 5,293 3,660 13,938 9,951 Initial territory and opening fees 103 105 335 225 Total revenue $ 157,762 $ 119,647 $ 443,084 $ 335,045 The aggregate amount of the transaction price allocated to performance obligations that are unsatisfied (or partially unsatisfied) as of September 25, 2019 is $16,573 . We expect 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 Opening and closing balances of contract liabilities and receivables from contracts with customers is as follows: September 25 2019 December 27 Shack sales receivables $ 2,945 $ 2,550 Licensing receivables 4,494 2,616 Gift card liability 1,770 1,796 Deferred revenue, current 421 307 Deferred revenue, long-term 11,197 10,026 Revenue recognized during the thirteen and thirty-nine weeks ended September 25, 2019 and September 26, 2018 that was included in their respective liability balances at the beginning of the period is as follows: Thirteen Weeks Ended Thirty-Nine Weeks Ended September 25 2019 September 26 September 25 2019 September 26 Gift card liability $ 84 $ 59 $ 467 $ 467 Deferred revenue, current 86 67 305 185

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	9 Months Ended
	Sep. 25, 2019
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 25, 2019 and December 26, 2018 , 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 25, 2019 and December 26, 2018 : September 25, 2019 Cost Basis Gross Unrealized Gains Gross Unrealized Losses Fair Value Cash and Cash Equivalents Marketable Securities Cash $ 39,499 $ — $ — $ 39,499 $ 39,499 $ — Level 1: Money market funds 5,006 — — 5,006 5,006 — Mutual funds 36,227 109 36,336 — 36,336 Total $ 80,732 $ 109 $ — $ 80,841 $ 44,505 $ 36,336 December 26, 2018 Cost Basis Gross Unrealized Gains Gross Unrealized Losses Fair Value Cash and Cash Equivalents Marketable Securities Cash $ 19,746 $ — $ — $ 19,746 $ 19,746 $ — Level 1: Money market funds 5,004 — — 5,004 5,004 — Mutual funds 62,235 — (122 ) 62,113 — 62,113 Total $ 86,985 $ — $ (122 ) $ 86,863 $ 24,750 $ 62,113 Net un realized gains on available-for-sale equity securities totaling $231 were included on the Condensed Consolidated Statements of Income during the thirty-nine weeks ended September 25, 2019 . No unrealized gains or losses were recognized during the thirteen weeks ended September 25, 2019 . Net unrealized gains on available-for-sale equity securities totaling $62 and $1 were included on the Condensed Consolidated Statements of Income during the thirteen and thirty-nine weeks ended September 26, 2018 , respectively. A summary of other income from available-for-sale securities recognized during the thirteen and thirty-nine weeks ended September 25, 2019 and September 26, 2018 is as follows: Thirteen Weeks Ended Thirty-Nine Weeks Ended September 25 2019 September 26 September 25 2019 September 26 Available-for-sale securities: Dividend income $ 254 $ 373 $ 997 $ 977 Interest income — — — 7 Realized gain (loss) on sale of investments — 1 22 (15 ) Unrealized gain on available-for-sale equity securities — 62 231 1 Total other income, net $ 254 $ 436 $ 1,250 $ 970 A summary of available-for-sale securities sold and gross realized gains and losses recognized during the thirteen and thirty-nine weeks ended September 25, 2019 and September 26, 2018 is as follows: Thirteen Weeks Ended Thirty-Nine Weeks Ended September 25 2019 September 26 September 25 2019 September 26 Available-for-sale securities: Gross proceeds from sales and redemptions $ — $ — $ 27,000 $ 2,144 Cost basis of sales and redemptions — — 26,978 2,160 Gross realized gains included in net income — — 36 2 Gross realized losses included in net income — — (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, net on the Condensed Consolidated Statements of Income . 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 September 25, 2019 and December 26, 2018 , the decline in the market value of our marketable securities investment portfolio was considered to be temporary in nature. Other Financial Instruments The carrying value of our other financial instruments, including accounts receivable, accounts payable, and accrued expenses as of September 25, 2019 and December 26, 2018 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 and indefinite-lived intangible assets. There were no impairments recognized during the thirteen and thirty-nine weeks ended September 25, 2019 and September 26, 2018 .

INVENTORIES

INVENTORIES	9 Months Ended
	Sep. 25, 2019
Inventory Disclosure [Abstract]
INVENTORIES	INVENTORIES Inventories as of September 25, 2019 and December 26, 2018 consisted of the following: September 25 December 26 Food $ 1,344 $ 1,291 Wine 95 83 Beer 100 95 Beverages 211 203 Retail merchandise 32 77 Inventories $ 1,782 $ 1,749

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT	9 Months Ended
	Sep. 25, 2019
Property, Plant and Equipment [Abstract]
PROPERTY AND EQUIPMENT	PROPERTY AND EQUIPMENT Property and equipment as of September 25, 2019 and December 26, 2018 consisted of the following: September 25 December 26 Leasehold improvements $ 278,585 $ 228,453 Landlord funded assets — 15,595 Equipment 50,853 40,716 Furniture and fixtures 16,868 14,055 Computer equipment and software 22,813 19,008 Financing equipment lease assets 6,537 — Construction in progress (1) 39,927 29,474 Property and equipment, gross 415,583 347,301 Less: accumulated depreciation 111,233 85,447 Property and equipment, net $ 304,350 $ 261,854 (

SUPPLEMENTAL BALANCE SHEET INFO

SUPPLEMENTAL BALANCE SHEET INFORMATION	9 Months Ended
	Sep. 25, 2019
Supplemental Balance Sheet Disclosures [Abstract]
SUPPLEMENTAL BALANCE SHEET INFORMATION	SUPPLEMENTAL BALANCE SHEET INFORMATION The components of other current liabilities as of September 25, 2019 and December 26, 2018 are as follows: September 25 December 26 Sales tax payable $ 3,810 $ 3,143 Current portion of liabilities under tax receivable agreement 5,177 5,804 Gift card liability 1,770 1,796 Current portion of financing equipment lease liabilities 1,796 — Other 3,398 3,287 Other current liabilities $ 15,951 $ 14,030 The components of other long-term liabilities as of September 25, 2019 and December 26, 2018 are as follows: September 25 December 26 Deferred licensing revenue $ 11,197 $ 10,026 Long-term portion of financing equipment lease liabilities 3,310 — Other 403 472 Other long-term liabilities $ 14,910 $ 10,498

DEBT

DEBT	9 Months Ended
	Sep. 25, 2019
Debt Disclosure [Abstract]
DEBT	DEBT In August 2019, we terminated our previous revolving credit facility and entered into a new revolving credit facility pursuant to a Credit Agreement. Our Credit Agreement provides for a revolving credit facility of $50,000 , of which the entire commitment is available immediately, with the ability to increase available borrowings up to an additional $100,000 , to be made available subject to satisfaction of certain conditions. The Credit Agreement will mature and all amounts outstanding will be due and payable in August 2024 and permits the issuance of letters of credit upon our request of up to $15,000 . Borrowings under the facility will bear interest at either: (i) LIBOR plus a percentage ranging from 1.0% to 1.5% or (ii) the base rate plus a percentage ranging from 0.0% to 0.5% , in each case depending on our net lease adjusted leverage ratio. To the extent the LIBOR reference rate is no longer available, the administrative agent, in consultation with us, will determine a replacement rate which will be generally in accordance with similar transactions in which it serves as administrative agent. As of September 25, 2019 , no amounts were outstanding under the revolving credit facility. As of December 26, 2018 , no amounts were outstanding under the previous facility. The obligations under the Credit Agreement are secured by a first-priority security interest in substantially all of the assets of SSE Holdings and the guarantors. The obligations under the Credit Agreement were guaranteed by each of SSE Holdings' direct and indirect subsidiaries (with certain exceptions). The Credit Agreement requires us to comply with maximum net lease adjusted leverage and minimum fixed charge coverage ratios. In addition, the Credit Agreement contains other customary affirmative and negative covenants, including those which (subject to certain exceptions and dollar thresholds) limit our ability to incur debt; incur liens; make investments; engage in mergers, consolidations, liquidations or acquisitions; dispose of assets; make distributions on or repurchase equity securities; engage in transactions with affiliates; and prohibits us, with certain exceptions, from engaging in any line of business not related to our current line of business. As of September 25, 2019 we were in compliance with all covenants. As of December 26, 2018 we had deemed landlord financing liabilities of $20,846 , for certain leases where we were involved in the construction of leased assets and were considered the accounting owner of the construction project. Upon adoption of ASU 2016-02, Leases (Topic 842) on December 27, 2018, we were no longer considered to be the accounting owner of these construction projects and had no deemed landlord financing liabilities on the Condensed Consolidated Balance Sheets as of September 25, 2019 . As of September 25, 2019 we had $342,602 of operating lease liabilities and $5,106 of finance lease liabilities on the Condensed Consolidated Balance Sheets, refer to Note 9 Leases for further details. Total interest costs incurred were $133 and $302 for the thirteen and thirty-nine weeks ended September 25, 2019 , respectively and $633 and $1,897 for the thirteen and thirty-nine weeks ended and September 26, 2018 , respectively. Total amounts capitalized into property and equipment were $41 and $127 for the thirteen and thirty-nine weeks ended September 26, 2018 , respectively. No amounts were capitalized into property and equipment for the thirteen and thirty-nine weeks ended September 25, 2019 .

NON-CONTROLLING INTERESTS

NON-CONTROLLING INTERESTS	9 Months Ended
	Sep. 25, 2019
Noncontrolling Interest [Abstract]
NON-CONTROLLING INTERESTS	NON-CONTROLLING INTERESTS We are the sole managing member of SSE Holdings and, as a result, consolidate the financial results of SSE Holdings. We report 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, we will receive a corresponding number of LLC Interests, increasing our total ownership interest in SSE Holdings. Changes in our ownership interest in SSE Holdings while we retain our 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 September 25, 2019 and December 26, 2018 . September 25, 2019 December 26, 2018 LLC Interests Ownership% LLC Interests Ownership % Number of LLC Interests held by Shake Shack Inc. 33,651,950 89.8 % 29,520,833 79.6 % Number of LLC Interests held by non-controlling interest holders 3,809,347 10.2 % 7,557,347 20.4 % Total LLC Interests outstanding 37,461,297 100.0 % 37,078,180 100.0 % The weighted average ownership percentages for the applicable reporting periods are used to attribute net income and other comprehensive income to Shake Shack Inc. and the non-controlling interest holders. The non-controlling interest holders' weighted average ownership percentage for the thirteen and thirty-nine weeks ended September 25, 2019 was 14.4% and 17.9% , respectively. The non-controlling interest holders' weighted average ownership percentage for the thirteen and thirty-nine weeks ended September 26, 2018 was 21.8% and 24.4% , respectively. The following table summarizes the effects of changes in ownership of SSE Holdings on our equity during the thirteen and thirty-nine weeks ended September 25, 2019 and September 26, 2018 . Thirteen Weeks Ended Thirty-Nine Weeks Ended September 25 September 26 September 25 September 26 Net income attributable to Shake Shack Inc. $ 10,344 $ 5,025 $ 21,920 $ 16,137 Other comprehensive income: Net change related to available-for-sale securities — — — 10 Transfers (to) from non-controlling interests: Increase in additional paid-in capital as a result of the redemption of LLC Interests 1,634 7,274 7,115 14,633 Increase in additional paid-in-capital as a result of the GTC Merger 19,218 — 19,218 — Increase (decrease) in additional paid-in capital as a result of activity under stock compensation plans 1,789 215 2,718 2,318 Total effect of changes in ownership interest on equity attributable to Shake Shack Inc. $ 32,985 $ 12,514 $ 50,971 $ 33,098 During the thirteen and thirty-nine weeks ended September 25, 2019 , an aggregate of 231,599 and 1,057,737 LLC Interests, respectively, were redeemed by non-controlling interest holders for newly-issued shares of Class A common stock, and we received 231,599 and 1,057,737 LLC Interests in connection with these redemptions for the thirteen and thirty-nine weeks ended September 25, 2019 , respectively, increasing our total ownership interest in SSE Holdings. During the thirteen and thirty-nine weeks ended September 26, 2018 , an aggregate of 1,235,671 and 2,561,086 LLC Interests, respectively, were redeemed by non-controlling interest holders for newly-issued shares of Class A common stock, and we received 1,235,671 and 2,561,086 LLC Interests in connection with these redemptions for the thirteen and thirty-nine weeks ended September 26, 2018 , respectively, increasing our total ownership interest in SSE Holdings. During the thirteen and thirty-nine weeks ended September 25, 2019 , we received an aggregate of 172,403 and 383,117 LLC Interests, respectively, in connection with the activity under our stock compensation plan and 29,353 and 282,792 LLC Interests, respectively, during the thirteen and thirty-nine weeks ended September 26, 2018 . Gramercy Tavern Corp. Merger Pursuant to a Stockholders Agreement, dated as of February 4, 2015, as amended, by and among Daniel H. Meyer, the Daniel H. Meyer 2012 Gift Trust dtd 10/31/12 (the "Gift Trust"), other affiliates (collectively, the "Meyer Stockholders") and other parties thereto, the Meyer Stockholders had the right to cause all of the shares of Gramercy Tavern Corp. ("GTC") to be exchanged for shares of our Class A common stock pursuant to a tax-free reorganization. In August 2019, the Meyer Stockholders exercised their right with respect to GTC (the "GTC Merger"). To effect the GTC Merger, a newly-formed wholly-owned subsidiary of Shake Shack Inc. merged with and into GTC, with GTC as the surviving entity, which was then merged with and into Shake Shack Inc. Prior to the GTC Merger, GTC owned 2,690,263 LLC Interests and an equivalent number of shares of our Class B common stock. The stockholders of GTC, received on a one-for-one basis, 2,690,263 shares of Class A common stock based upon the amount of shares of GTC held by the stockholders; all of the shares of Class B common stock held by GTC were cancelled; and all of the LLC Interests held by GTC were transferred to us.

EQUITY-BASED COMPENSATION

EQUITY-BASED COMPENSATION	9 Months Ended
	Sep. 25, 2019
Share-based Payment Arrangement [Abstract]
EQUITY-BASED COMPENSATION	EQUITY-BASED COMPENSATION A summary of equity-based compensation expense recognized during the thirteen and thirty-nine weeks ended September 25, 2019 and September 26, 2018 is as follows: Thirteen Weeks Ended Thirty-Nine Weeks Ended September 25 September 26 September 25 September 26 Stock options $ 637 $ 719 $ 1,974 $ 2,319 Performance stock units 720 750 2,439 1,668 Restricted stock units 522 167 1,338 483 Equity-based compensation expense $ 1,879 $ 1,636 $ 5,751 $ 4,470 Total income tax benefit recognized related to equity-based compensation $ 48 $ 46 $ 141 $ 126 Equity-based compensation expense is included in general and administrative expenses and labor and related expenses on the Condensed Consolidated Statements of Income during the thirteen and thirty-nine weeks ended September 25, 2019 and September 26, 2018 as follows: Thirteen Weeks Ended Thirty-Nine Weeks Ended September 25 September 26 September 25 September 26 General and administrative expenses $ 1,795 $ 1,598 $ 5,521 $ 4,358 Labor and related expenses 84 38 230 112 Equity-based compensation expense $ 1,879 $ 1,636 $ 5,751 $ 4,470

INCOME TAXES

INCOME TAXES	9 Months Ended
	Sep. 25, 2019
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES We are the sole managing member of SSE Holdings and, as a result, consolidate the financial results of SSE Holdings. SSE Holdings is treated as a partnership for U.S. federal and most applicable state and local income tax purposes. As a partnership, SSE Holdings is not subject to U.S. federal and certain state and local income taxes. Any taxable income or loss generated by SSE Holdings is passed through to and included in the taxable income or loss of its members, including us, on a pro rata basis. We are subject to U.S. federal income taxes, in addition to state and local income taxes with respect to our allocable share of any taxable income or loss of SSE Holdings, as well as any stand-alone income or loss generated by Shake Shack Inc. We are also subject to withholding taxes in foreign jurisdictions. Income Tax Expense A reconciliation of income tax expense computed at the U.S. federal statutory income tax rate to the recognized income tax expense is as follows: Thirteen Weeks Ended Thirty-Nine Weeks Ended September 25 September 26 September 25 September 26 Expected U.S. federal income taxes at statutory rate $ 1,738 21.0 % $ 1,930 21.0 % $ 5,492 21.0 % $ 5,917 21.0 % State and local income taxes, net of federal benefit 505 6.1 % 643 7.0 % 1,746 6.7 % 1,885 6.7 % Foreign withholding taxes 655 7.9 % 298 3.2 % 1,624 6.2 % 1,100 3.9 % Tax credits and adjustments to forecasted rate (2,874 ) (34.7 )% (181 ) (2.0 )% (4,697 ) (18.0 )% (1,378 ) (4.9 )% Return to provision adjustment (153 ) (1.8 )% — — % (153 ) (0.6 )% — — % Non-controlling interest (346 ) (4.2 )% (430 ) (4.7 )% (1,291 ) (4.9 )% (1,615 ) (5.7 )% Tax effect of change in basis related to the adoption of ASC 842 — — % — — % 1,161 4.4 % — — % Change in valuation allowance (2,587 ) (31.3 )% — — % (3,847 ) (14.7 )% — — % Other (82 ) (1.0 )% (19 ) (0.2 )% (82 ) (0.3 )% (230 ) (0.8 )% Income tax expense $ (3,144 ) (38.0 )% $ 2,241 24.4 % $ (47 ) (0.2 )% $ 5,679 20.2 % Our effective income tax rates for the thirteen weeks ended September 25, 2019 and September 26, 2018 were (38.0)% and 24.4% , respectively. The decrease was primarily driven by higher foreign tax credits, an increase of windfall tax benefits in equity-based compensation and a decrease in valuation allowance, partially offset by an increase in our ownership interest in SSE Holdings, which increases our share of the taxable income of SSE Holdings. Our weighted-average ownership interest in SSE Holdings was 85.6% and 78.2% for the thirteen weeks ended September 25, 2019 and September 26, 2018 , respectively. Our effective income tax rates for the thirty-nine weeks ended September 25, 2019 and September 26, 2018 were (0.2)% and 20.2% , respectively. The decrease was primarily driven by higher foreign tax credits, an increase of windfall tax benefits in equity-based compensation and a decrease in valuation allowance, partially offset by the tax effect of a change in tax basis relating to the adoption of ASC 842 on December 27, 2018 and an increase in our ownership interest in SSE Holdings, which increases our share of the taxable income of SSE Holdings. Our weighted-average ownership interest in SSE Holdings was 82.1% and 75.6% for the thirty-nine weeks ended September 25, 2019 and September 26, 2018 , respectively. Deferred Tax Assets and Liabilities During the thirty-nine weeks ended September 25, 2019 , we acquired an aggregate of 4,131,117 LLC Interests in connection with the redemption of LLC Interests, and activity relating to our stock compensation plan and the GTC merger, which represented 2,690,263 of the total LLC Interests acquired (refer to Note 10 for further details). We recognized a deferred tax asset in the amount o f $16,319 associated with the basis difference in our investment in SSE Holdings upon acquisition of these LLC Interests. As of September 25, 2019 , the total deferred tax asset related to the basis difference in our investment in SSE Holdings was $181,620 . However, a portion of the total basis difference will only reverse upon the eventual sale of our interest in SSE Holdings, which we expect would result in a capital loss. As of September 25, 2019 , the total valuation allowance established against the deferred tax asset to which this portion relates was $763 . During the thirty-nine weeks ended September 25, 2019 , we also recognized $5,624 of deferred tax assets related to additional tax basis increases generated from expected future payments under the Tax Receivable Agreement and related deductions for imputed interest on such payments. See "—Tax Receivable Agreement" for more information. We evaluate the realizability of our deferred tax assets on a quarterly basis and establish valuation allowances when it is more likely than not that all or a portion of a deferred tax asset may not be realized. As of September 25, 2019 , we concluded, based on the weight of all available positive and negative evidence, that all of our deferred tax assets (except for those deferred tax assets described above relating to basis differences that are expected to result in a capital loss upon the eventual sale of our interest in SSE Holdings) are more likely than not to be realized. As such, no additional valuation allowance was recognized. Uncertain Tax Positions No uncertain tax positions existed as of September 25, 2019 . Shake Shack Inc. was formed in September 2014 and did not engage in any operations prior to our initial public offering in February of 2015 and related organizational transactions. Shake Shack Inc. first filed tax returns for tax year 2014, which is the first tax year subject to examination by taxing authorities for U.S. federal and state income tax purposes. Additionally, although SSE Holdings is treated as a partnership for U.S. federal and state income taxes purposes, it is still required to file an annual U.S. Return of Partnership Income, which is subject to examination by the Internal Revenue Service ("IRS"). The statute of limitations has expired for tax years through 2015 for SSE Holdings. Tax Receivable Agreement Pursuant to our election under Section 754 of the Internal Revenue Code (the "Code"), we expect to obtain an increase in our share of the tax basis in the net assets of SSE Holdings when LLC Interests are redeemed or exchanged by the other members of SSE Holdings. We plan to make an election under Section 754 of the Code for each taxable year in which a redemption or exchange of LLC Interest occurs. We intend to treat any redemptions and exchanges of LLC Interests as direct purchases of LLC Interests for U.S. federal income tax purposes. These increases in tax basis may reduce the amounts that we would otherwise pay in the future to various tax authorities. They may also decrease gains (or increase losses) on future dispositions of certain capital assets to the extent tax basis is allocated to those capital assets. On February 4, 2015, we entered into a tax receivable agreement with certain of the then-existing members of SSE Holdings (the "Tax Receivable Agreement") that provides for the payment by us of 85% of the amount of any tax benefits that we actually realize, or in some cases are deemed to realize, as a result of (i) increases in our share of the tax basis in the net assets of SSE Holdings resulting from any redemptions or exchanges of LLC Interests, (ii) tax basis increases attributable to payments made under the Tax Receivable Agreement, and (iii) deductions attributable to imputed interest pursuant to the Tax Receivable Agreement (the "TRA Payments"). We expect to benefit from the remaining 15% of any tax benefits that we may actually realize. The TRA Payments are not conditioned upon any continued ownership interest in SSE Holdings or us. The rights of each member of SSE Holdings, that is a party to the Tax Receivable Agreement, are assignable to transferees of their respective LLC Interests. During the thirty-nine weeks ended September 25, 2019 , we acquired an aggregate of 1,057,737 LLC Interests in connection with the redemption of LLC Interests, which resulted in an increase in the tax basis of our investment in SSE Holdings subject to the provisions of the Tax Receivable Agreement. We recognized an additional liability in the amount of $20,027 for the TRA Payments due to the redeeming members, representing 85% of the aggregate tax benefits we expect to realize from the tax basis increases related to the redemption of LLC Interests, after concluding it was probable that such TRA Payments would be paid based on our estimates of future taxable income. During the thirty-nine weeks ended September 25, 2019 , payments of $707 , inclusive of interest, were made to the members of SSE Holdings pursuant to the Tax Receivable Agreement. No payments were made to the members of SSE Holdings pursuant to the Tax Receivable Agreement during the thirty-nine weeks ended September 26, 2018 . As of September 25, 2019 , the total amount of TRA Payments due under the Tax Receivable Agreement, was $223,112 , of which $5,177 was included in other current liabilities on the Condensed Consolidated Balance Sheet. See Note 15 for more information relating to our liabilities under the Tax Receivable Agreement.

EARNINGS PER SHARE

EARNINGS PER SHARE	9 Months Ended
	Sep. 25, 2019
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE Basic earnings per share of Class A common stock is computed by dividing net income attributable to Shake Shack Inc. by the weighted-average number of shares of Class A common stock outstanding during the period. Diluted earnings per share of Class A common stock is computed by dividing net income attributable to Shake Shack Inc. by the weighted-average number of shares of Class A common stock outstanding adjusted to give effect to potentially dilutive securities. The following table sets forth reconciliations of the numerators and denominators used to compute basic and diluted earnings per share of Class A common stock for the thirteen and thirty-nine weeks ended September 25, 2019 and September 26, 2018 . Thirteen Weeks Ended Thirty-Nine Weeks Ended September 25 September 26 September 25 September 26 Numerator: Net income $ 11,423 $ 6,946 $ 26,201 $ 22,496 Less: net income attributable to non-controlling interests 1,079 1,921 4,281 6,359 Net income attributable to Shake Shack Inc. $ 10,344 $ 5,025 $ 21,920 $ 16,137 Denominator: Weighted-average shares of Class A common stock outstanding—basic 31,961 28,954 30,549 27,930 Effect of dilutive securities: Stock options 824 857 777 809 Performance stock units 50 51 64 63 Restricted stock units 81 21 51 18 Weighted-average shares of Class A common stock outstanding—diluted 32,916 29,883 31,441 28,820 Earnings per share of Class A common stock—basic $ 0.32 $ 0.17 $ 0.72 $ 0.58 Earnings per share of Class A common stock—diluted $ 0.31 $ 0.17 $ 0.70 $ 0.56 Shares of our Class B common stock do not share in the earnings or losses of Shake Shack and are therefore not participating securities. As such, separate presentation of basic and diluted earnings per share of Class B common stock under the two-class method has not been presented. The following table presents potentially dilutive securities, as of the end of the period,excluded from the computations of diluted earnings per share of Class A common stock for the thirteen and thirty-nine weeks ended September 25, 2019 and September 26, 2018 . Thirteen Weeks Ended Thirty-Nine Weeks Ended September 25 September 26 September 25 September 26 Performance stock units 66,101 (1) 59,341 (1) 66,101 (1) 59,341 (1) Shares of Class B common stock 3,809,347 (2) 7,688,921 (2) 3,809,347 (2) 7,688,921 (2) (1) Excluded from the computation of diluted earnings per share of Class A common stock because the performance conditions associated with these awards were not met assuming the end of the reporting period was the end of the performance period. (2) Shares of our Class B common stock outstanding as of the end of the period are considered potentially dilutive shares of Class A common stock. Amounts have been excluded from the computations of diluted earnings per share of Class A common stock because the effect would have been anti-dilutive under the if-converted and two-class methods.

SUPPLEMENTAL CASH FLOW INFORMAT

SUPPLEMENTAL CASH FLOW INFORMATION	9 Months Ended
	Sep. 25, 2019
Supplemental Cash Flow Elements [Abstract]
SUPPLEMENTAL CASH FLOW INFORMATION	SUPPLEMENTAL CASH FLOW INFORMATION The following table sets forth supplemental cash flow information for the thirty-nine weeks ended September 25, 2019 and September 26, 2018 : Thirty-Nine Weeks Ended September 25 September 26 Cash paid for: Income taxes, net of refunds $ 2,483 $ 2,015 Interest, net of amounts capitalized 157 1,601 Non-cash investing activities: Accrued purchases of property and equipment 17,394 17,697 Capitalized landlord assets for leases where we are deemed the accounting owner — 4,478 Capitalized equity-based compensation 79 64 Non-cash financing activities: Class A common stock issued in connection with the redemption of LLC Interests 1 2 Class A common stock issued in connection with the GTC merger 3 — Cancellation of Class B common stock in connection with the redemption of LLC Interests (1 ) (2 ) Cancellation of Class B common stock in connection with the GTC Merger (3 ) — Establishment of liabilities under tax receivable agreement 20,027 42,641

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Sep. 25, 2019
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Lease Commitments We are obligated under various operating leases for Shacks and our home office space, expiring in various years through 2035. Under certain of these leases, we are liable for contingent rent based on a percentage of sales in excess of specified thresholds and are typically responsible for our proportionate share of real estate taxes, common area maintenance charges and utilities. See Note 9, Leases. As security under the terms of one of our leases, we are obligated under a letter of credit totaling $130 as of September 25, 2019 , which expires in February 2026. Additionally, in September 2017, we entered into a letter of credit in conjunction with our new Home Office lease in the amount of $603 , which expires in August 2020 and renews automatically for one-year periods through January 31, 2034. Purchase Commitments Purchase obligations include legally binding contracts, including commitments for the purchase, construction or remodeling of real estate and facilities, firm minimum commitments for inventory purchases, equipment purchases, marketing-related contracts, software acquisition/license commitments and service contracts. These obligations are generally short-term in nature and are recorded as liabilities when the related goods are received or services rendered. We also enter into long-term, exclusive contracts with certain vendors to supply us with food, beverages and paper goods, obligating us to purchase specified quantities. Legal Contingencies In February 2018, a claim was filed against Shake Shack in California state court alleging certain violations of the California Labor Code. At a mediation between the parties, we agreed to settle the matter with the plaintiff and all other California employees who elect to participate in the settlement for $1,200 . As of September 25, 2019 , an accrual in the amount of $1,200 was recorded for this matter and related expenses. We are subject to various legal proceedings, claims and liabilities, such as employment-related claims and slip and fall cases, which arise in the ordinary course of business and are generally covered by insurance. As of September 25, 2019 , the amount of the ultimate liability with respect to these matters was not material. Liabilities under Tax Receivable Agreement As described in Note 12 , we are a party to the Tax Receivable Agreement under which we are contractually committed to pay certain of the members of SSE Holdings 85% of the amount of any tax benefits that we actually realize, or in some cases are deemed to realize, as a result of certain transactions. We are not obligated to make any payments under the Tax Receivable Agreement until the tax benefits associated with the transactions that gave rise to the payments are realized. Amounts payable under the Tax Receivable Agreement are contingent upon, among other things, (i) generation of future taxable income over the term of the Tax Receivable Agreement and (ii) future changes in tax laws. If we do not generate sufficient taxable income in the aggregate over the term of the Tax Receivable Agreement to utilize the tax benefits, then we would not be required to make the related TRA Payments. During the thirty-nine weeks ended September 25, 2019 and September 26, 2018 , we recognized liabilities totaling $20,027 and $42,641 , respectively, relating to our obligations under the Tax Receivable Agreement, after concluding that it was probable that we would have sufficient future taxable income over the term of the Tax Receivable Agreement to utilize the related tax benefits. As of September 25, 2019 and December 26, 2018 , our total obligations under the Tax Receivable Agreement were $223,112 and $203,725 , respectively. There were no transactions subject to the Tax Receivable Agreement for

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	9 Months Ended
	Sep. 25, 2019
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONS Union Square Hospitality Group The Chairman of our Board of Directors serves as the Chief Executive Officer of Union Square Hospitality Group, LLC. As a result, Union Square Hospitality Group, LLC and its subsidiaries, set forth below, are considered related parties. USHG, LLC Effective January 2015, we entered into an Amended and Restated Management Services Agreement with USHG, LLC ("USHG"), in which USHG agreed to provide, at our election, certain management services to SSE Holdings. The initial term of the Amended and Restated Management Services Agreement is through December 31, 2019, and SSE Holdings notified USHG of its intention not to renew the term thereafter. Hudson Yards Sports and Entertainment In fiscal 2011, we entered into a Master License Agreement (as amended, "MLA") with Hudson Yards Sports and Entertainment LLC ("HYSE") to operate Shake Shack branded limited menu concession stands in sports and entertainment venues within the United States. In February 2019, the agreement was assigned to Hudson Yards Catering ("HYC"), the parent of HYSE. The agreement expires in January 2027 and includes five consecutive five -year renewal options at HYC's option. As consideration for these rights, HYC pays us a license fee based on a percentage of net food sales, as defined in the MLA. HYC also pays us a percentage of profits on sales of branded beverages, as defined in the MLA. Thirteen Weeks Ended Thirty-Nine Weeks Ended Classification September 25 2019 September 26 September 25 September 26 Amounts received from HYC Licensing revenue $ 250 $ 200 $ 401 $ 311 Classification September 25 December 26 Amounts due from HYC Accounts Receivable Prepaid expenses and other current assets $ 92 $ 37 Madison Square Park Conservancy The Chairman of our Board of Directors serves as a director of the Madison Square Park Conservancy ("MSP Conservancy"), with which we have a license agreement and pay license fees to operate our Madison Square Park Shack. Thirteen Weeks Ended Thirty-Nine Weeks Ended Classification September 25 2019 September 26 September 25 September 26 Amounts paid to MSP Conservancy Occupancy and related expenses $ 138 $ 203 $ 692 $ 673 Classification September 25 December 26 Amounts due to MSP Conservancy Accrued expenses $ 75 $ 70 Share Our Strength The Chairman of our Board of Directors serves as a director of Share Our Strength, for which Shake Shack holds the "Great American Shake Sale" every year to raise money and awareness for childhood hunger. During the Great American Shake Sale, we encourage guests to donate money to Share Our Strength's No Kid Hungry campaign in exchange for a coupon for a free shake. All of the guest donations we collect go directly to Share Our Strength. Amounts raised through donations during the thirteen weeks ended September 25, 2019 , were payable to Share Our Strength as of September 25, 2019 . Thirteen Weeks Ended Thirty-Nine Weeks Ended Classification September 25 2019 September 26 September 25 September 26 Amounts raised through donations — $ 190 $ — $ 190 $ 343 Costs incurred for free shakes redeemed General and administrative expenses $ 30 $ — 30 53 Mobo Systems, Inc. The Chairman of our Board of Directors serves as a director of Mobo Systems, Inc. (also known as "Olo"), a platform we use in connection with our mobile ordering application. No amounts were due to Olo as of September 25, 2019 and December 26, 2018 , respectively. Thirteen Weeks Ended Thirty-Nine Weeks Ended Classification September 25 2019 September 26 September 25 September 26 Amounts paid to Olo Other operating expenses $ 44 $ 28 $ 122 $ 80 Square, Inc. Our Chief Executive Officer is a member of the Board of Directors of Square, Inc. ("Square"). We currently use certain point-of-sale applications, payment processing services, hardware and other enterprise platform services in connection with the processing of a limited amount of sales at certain of our locations, sales for certain off-site events and in connection with our kiosk technology. Additionally, we partnered with Caviar, Square’s food ordering delivery service, to allow guests to order Shake Shack in select markets as well as participated in Square’s new Boost offers, providing assets and permission for Square to run select offers to their cash card users. No amounts were due to Square as of September 25, 2019 and December 26, 2018 , respectively. Thirteen Weeks Ended Thirty-Nine Weeks Ended Classification September 25 2019 September 26 September 25 September 26 Amounts paid to Square Other operating expenses $ 487 $ 122 $ 1,195 $ 250 Tax Receivable Agreement As described in Note 12 , we entered into a tax receivable agreement with certain members of SSE Holdings that provides for the payment by us of 85% of the amount of tax benefits, if any, that Shake Shack actually realizes or in some cases is deemed to realize as a result of certain transactions. Thirteen Weeks Ended Thirty-Nine Weeks Ended Classification September 25 2019 September 26 September 25 September 26 Amounts paid to members (inclusive of interest) Other current liabilities $ — $ — $ 707 $ — Classification September 25 December 26 Amounts due under the Tax Receivable Agreement Other current liabilities Liabilities under tax receivable agreement, net of current portion $ 223,112 $ 203,725 Distributions to Members of SSE Holdings Under the terms of the SSE Holdings LLC Agreement, SSE Holdings is obligated to make tax distributions to its members . No tax distributions were payable to non-controlling interest holders as of September 25, 2019 and December 26, 2018 , respectively. Thirteen Weeks Ended Thirty-Nine Weeks Ended Classification September 25 2019 September 26 September 25 September 26 Amounts paid to non-controlling interest holders Net income attributable to non-controlling interests $ 39 $ 22 $ 1,706 $ 692 Gramercy Tavern Corp. Merger Pursuant to a Stockholders Agreement, dated as of February 4, 2015, as amended, by and among Daniel H. Meyer, the Daniel H. Meyer 2012 Gift Trust dtd 10/31/12 (the "Gift Trust"), other affiliates (collectively, the "Meyer Stockholders") and other parties thereto, the Meyer Stockholders had the right to cause all of the shares of Gramercy Tavern Corp. ("GTC") to be exchanged for shares of our Class A common stock pursuant to a tax-free reorganization. In August 2019, the Meyer Stockholders exercised their right with respect to GTC (the "GTC Merger"). To effect the GTC Merger, a newly-formed wholly-owned subsidiary of Shake Shack Inc. merged with and into GTC, with GTC as the surviving entity, which was then merged with and into Shake Shack Inc. The stockholders of GTC received on a one-for-one basis shares of Class A common stock based upon the amount of shares of GTC held by the stockholders; all of the shares of Class B common stock held by GTC were cancelled; and all of the LLC Interests held by GTC were transferred to us. See Note 10 for more information.

LEASES

LEASES	9 Months Ended
	Sep. 25, 2019
Leases [Abstract]
LEASES	LEASES Effect of Standard Adoption On December 27, 2018 we adopted ASU 2016-02, Leases (Topic 842) , using a modified retrospective approach. We elected the package of practical expedients permitted under the transition guidance within Accounting Standards Codification Topic 842 ("ASC 842") which, among other items, allowed us to carry forward the historical lease classifications. As such, we applied the modified retrospective approach as of the adoption date to those lease contracts for which we have taken possession of the property as of December 26, 2018. As part of the transition, we derecognized all landlord funded assets and deemed landlord financing liabilities as of December 26, 2018 and determined the classification as either operating or finance leases. In addition to the aforementioned practical expedient, we have also elected to: ▪ Adopt the short-term lease exception for leases with terms of twelve months or less and account for them as if they were operating leases under ASC 840; and ▪ Apply the practic al expedient of combining lease and non-lease components. Results for reporting periods beginning on or after December 27, 2018 are presented under ASC 842. Prior period amounts were not revised and continue to be reported in accordance with ASC Topic 840 ("ASC 840"), the accounting standard then in effect. Upon transition, on December 27, 2018, we recorded the following increases (decreases) to the respective line items on the Condensed Consolidated Balance Sheet: Adjustment as of December 27, 2018 Prepaid expenses and other current assets $ 6 Property and equipment, net (11,448 ) Operating lease assets 229,885 Deferred income taxes, net (121 ) Deemed landlord financing (20,846 ) Deferred rent (47,862 ) Long-term operating lease liabilities 277,224 Other long-term liabilities 4,611 Retained earnings 4,136 Non-controlling interests 1,059 Nature of Leases We lease all of our domestic company-operated Shacks, our Home Office and certain equipment under various non-cancelable lease agreements that expire on various dates through 2035. We evaluate contracts entered into to determine whether the contract involves the use of property or equipment, which is either explicitly or implicitly identified in the contract. We evaluate whether we control the use of the asset, which is determined by assessing whether we obtain substantially all economic benefits from the use of the asset, and whether we have the right to direct the use of the asset. If these criteria are met and we have identified a lease, we account for the contract under the requirements of ASC 842. Upon the possession of a leased asset, we determine its classification as an operating or finance lease. Most of our real estate leases are classified as operating leases and most of our equipment leases are classified as finance leases. Generally, our real estate leases have initial terms ranging from 10 to 15 years and typically include two five -year renewal options. Renewal options are generally not recognized as part of the right-of-use assets and lease liabilities as it is not reasonably certain at commencement date that we would exercise the options to extend the lease. Our real estate leases typically provide for fixed minimum rent payments and/or contingent rent payments based upon sales in excess of specified thresholds. When the achievement of such sales thresholds are deemed to be probable, contingent rent is accrued in proportion to the sales recognized during the period. For operating leases that include rent holidays and rent escalation clauses, we recognize lease expense on a straight-line basis over the lease term from the date we take possession of the leased property. Lease expense incurred before a Shack opens is recorded in pre-opening costs. Once a domestic company-operated Shack opens, we record the straight-line lease expense and any contingent rent, if applicable, in occupancy and related expenses on the Consolidated Statements of Income. Many of our leases also require us to pay real estate taxes, common area maintenance costs and other occupancy costs which are included in occupancy and related expenses on the Consolidated Statements of Income. As there were no explicit rates provided in our leases, we used our incremental borrowing rate in determining the present value of future lease payments. The discount rate used to measure the lease liability at the transition date was derived from the average of the yield curves obtained from using the notching method and the recovery rate method. The most significant assumption in calculating the incremental borrowing rate is our credit rating and subject to judgment. We determined our credit rating based on a comparison of the financial information of SSE Holdings to 800 other public companies and then used their respective credit ratings to develop our own. We expend cash for leasehold improvements to build out and equip our leased premises. Generally, a portion of the leasehold improvements and building costs are reimbursed by our landlords as landlord incentives pursuant to agreed-upon terms in our lease agreements. If obtained, landlord incentives usually take the form of cash, full or partial credits against our future minimum or contingent rents otherwise payable by us, or a combination thereof. In most cases, landlord incentives are received after we take possession of the property, as we meet required milestones during the construction of the property. We include these amounts in the measurement of the initial operating lease liability, which are also reflected as a reduction to the initial measurement of the right-of-use asset. A summary of finance and operating lease right-of-use assets and liabilities as of September 25, 2019 is as follows: Classification September 25 2019 Finance leases Property and equipment, net $ 5,046 Operating leases Operating lease assets 279,975 Total right-of-use assets $ 285,021 Finance leases: Other current liabilities 1,796 Other long-term liabilities 3,310 Operating leases: Operating lease liabilities, current 26,441 Long-term operating lease liabilities 316,161 Total lease liabilities $ 347,708 The components of lease expense for the thirteen and thirty-nine weeks ended September 25, 2019 were as follows: Thirteen Weeks Ended Thirty-Nine Weeks Ended Classification September 25 September 25 Finance lease cost: Amortization of right-of-use assets Depreciation expense $ 538 $ 1,491 Interest on lease liabilities Interest expense 52 148 Operating lease cost Occupancy and related expenses General and administrative expenses Pre-opening costs 10,564 29,329 Short-term lease cost Occupancy and related expenses 279 313 Variable lease cost Occupancy and related expenses General and administrative expenses Pre-opening costs 4,338 11,636 Total lease cost $ 15,771 $ 42,917 As of September 25, 2019 , future minimum lease payments for finance and operating leases consisted of the following: Finance Leases Operating Leases 2019 $ 538 $ 23,285 2020 1,791 45,901 2021 1,194 45,408 2022 804 47,261 2023 620 47,315 Thereafter 587 278,647 Total minimum payments 5,534 487,817 Less: imputed interest 428 145,215 Total lease liabilities $ 5,106 $ 342,602 As of September 25, 2019 we had additional operating lease commitments of $85,583 for non-cancelable leases without a possession date, which will begin to commence in 2019 . These lease commitments are consistent with the leases that we have executed thus far and include a number of real estates leases where we are involved in the construction and design. A summary of lease terms and discount rates for finance and operating leases as of September 25, 2019 is as follows: September 25 Weighted-average remaining lease term (years): Finance leases 5.2 Operating leases 10.0 Weighted-average discount rate: Finance leases 3.9 % Operating leases 4.7 % Supplemental cash flow information related to leases as of September 25, 2019 is as follows: September 25 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from finance leases $ 148 Operating cash flows from operating leases 27,238 Financing cash flows from finance leases 1,433 Right-of-use assets obtained in exchange for lease obligations: Finance leases 1,927 Operating leases 65,773
LEASES	LEASES Effect of Standard Adoption On December 27, 2018 we adopted ASU 2016-02, Leases (Topic 842) , using a modified retrospective approach. We elected the package of practical expedients permitted under the transition guidance within Accounting Standards Codification Topic 842 ("ASC 842") which, among other items, allowed us to carry forward the historical lease classifications. As such, we applied the modified retrospective approach as of the adoption date to those lease contracts for which we have taken possession of the property as of December 26, 2018. As part of the transition, we derecognized all landlord funded assets and deemed landlord financing liabilities as of December 26, 2018 and determined the classification as either operating or finance leases. In addition to the aforementioned practical expedient, we have also elected to: ▪ Adopt the short-term lease exception for leases with terms of twelve months or less and account for them as if they were operating leases under ASC 840; and ▪ Apply the practic al expedient of combining lease and non-lease components. Results for reporting periods beginning on or after December 27, 2018 are presented under ASC 842. Prior period amounts were not revised and continue to be reported in accordance with ASC Topic 840 ("ASC 840"), the accounting standard then in effect. Upon transition, on December 27, 2018, we recorded the following increases (decreases) to the respective line items on the Condensed Consolidated Balance Sheet: Adjustment as of December 27, 2018 Prepaid expenses and other current assets $ 6 Property and equipment, net (11,448 ) Operating lease assets 229,885 Deferred income taxes, net (121 ) Deemed landlord financing (20,846 ) Deferred rent (47,862 ) Long-term operating lease liabilities 277,224 Other long-term liabilities 4,611 Retained earnings 4,136 Non-controlling interests 1,059 Nature of Leases We lease all of our domestic company-operated Shacks, our Home Office and certain equipment under various non-cancelable lease agreements that expire on various dates through 2035. We evaluate contracts entered into to determine whether the contract involves the use of property or equipment, which is either explicitly or implicitly identified in the contract. We evaluate whether we control the use of the asset, which is determined by assessing whether we obtain substantially all economic benefits from the use of the asset, and whether we have the right to direct the use of the asset. If these criteria are met and we have identified a lease, we account for the contract under the requirements of ASC 842. Upon the possession of a leased asset, we determine its classification as an operating or finance lease. Most of our real estate leases are classified as operating leases and most of our equipment leases are classified as finance leases. Generally, our real estate leases have initial terms ranging from 10 to 15 years and typically include two five -year renewal options. Renewal options are generally not recognized as part of the right-of-use assets and lease liabilities as it is not reasonably certain at commencement date that we would exercise the options to extend the lease. Our real estate leases typically provide for fixed minimum rent payments and/or contingent rent payments based upon sales in excess of specified thresholds. When the achievement of such sales thresholds are deemed to be probable, contingent rent is accrued in proportion to the sales recognized during the period. For operating leases that include rent holidays and rent escalation clauses, we recognize lease expense on a straight-line basis over the lease term from the date we take possession of the leased property. Lease expense incurred before a Shack opens is recorded in pre-opening costs. Once a domestic company-operated Shack opens, we record the straight-line lease expense and any contingent rent, if applicable, in occupancy and related expenses on the Consolidated Statements of Income. Many of our leases also require us to pay real estate taxes, common area maintenance costs and other occupancy costs which are included in occupancy and related expenses on the Consolidated Statements of Income. As there were no explicit rates provided in our leases, we used our incremental borrowing rate in determining the present value of future lease payments. The discount rate used to measure the lease liability at the transition date was derived from the average of the yield curves obtained from using the notching method and the recovery rate method. The most significant assumption in calculating the incremental borrowing rate is our credit rating and subject to judgment. We determined our credit rating based on a comparison of the financial information of SSE Holdings to 800 other public companies and then used their respective credit ratings to develop our own. We expend cash for leasehold improvements to build out and equip our leased premises. Generally, a portion of the leasehold improvements and building costs are reimbursed by our landlords as landlord incentives pursuant to agreed-upon terms in our lease agreements. If obtained, landlord incentives usually take the form of cash, full or partial credits against our future minimum or contingent rents otherwise payable by us, or a combination thereof. In most cases, landlord incentives are received after we take possession of the property, as we meet required milestones during the construction of the property. We include these amounts in the measurement of the initial operating lease liability, which are also reflected as a reduction to the initial measurement of the right-of-use asset. A summary of finance and operating lease right-of-use assets and liabilities as of September 25, 2019 is as follows: Classification September 25 2019 Finance leases Property and equipment, net $ 5,046 Operating leases Operating lease assets 279,975 Total right-of-use assets $ 285,021 Finance leases: Other current liabilities 1,796 Other long-term liabilities 3,310 Operating leases: Operating lease liabilities, current 26,441 Long-term operating lease liabilities 316,161 Total lease liabilities $ 347,708 The components of lease expense for the thirteen and thirty-nine weeks ended September 25, 2019 were as follows: Thirteen Weeks Ended Thirty-Nine Weeks Ended Classification September 25 September 25 Finance lease cost: Amortization of right-of-use assets Depreciation expense $ 538 $ 1,491 Interest on lease liabilities Interest expense 52 148 Operating lease cost Occupancy and related expenses General and administrative expenses Pre-opening costs 10,564 29,329 Short-term lease cost Occupancy and related expenses 279 313 Variable lease cost Occupancy and related expenses General and administrative expenses Pre-opening costs 4,338 11,636 Total lease cost $ 15,771 $ 42,917 As of September 25, 2019 , future minimum lease payments for finance and operating leases consisted of the following: Finance Leases Operating Leases 2019 $ 538 $ 23,285 2020 1,791 45,901 2021 1,194 45,408 2022 804 47,261 2023 620 47,315 Thereafter 587 278,647 Total minimum payments 5,534 487,817 Less: imputed interest 428 145,215 Total lease liabilities $ 5,106 $ 342,602 As of September 25, 2019 we had additional operating lease commitments of $85,583 for non-cancelable leases without a possession date, which will begin to commence in 2019 . These lease commitments are consistent with the leases that we have executed thus far and include a number of real estates leases where we are involved in the construction and design. A summary of lease terms and discount rates for finance and operating leases as of September 25, 2019 is as follows: September 25 Weighted-average remaining lease term (years): Finance leases 5.2 Operating leases 10.0 Weighted-average discount rate: Finance leases 3.9 % Operating leases 4.7 % Supplemental cash flow information related to leases as of September 25, 2019 is as follows: September 25 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from finance leases $ 148 Operating cash flows from operating leases 27,238 Financing cash flows from finance leases 1,433 Right-of-use assets obtained in exchange for lease obligations: Finance leases 1,927 Operating leases 65,773

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 25, 2019
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements include the accounts of Shake Shack Inc. and its subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. These interim condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") and on a basis consistent in all material respects with the accounting policies described in our Annual Report on Form 10-K for the fiscal year ended December 26, 2018 ("2018 Form 10-K"). In our opinion, all adjustments, which are normal and recurring in nature, necessary for a fair presentation of our financial position and results of operation have been included. Operating results for interim periods are not necessarily indicative of the results that may be expected for a full fiscal year. The accompanying Condensed Consolidated Balance Sheet as of December 26, 2018 has been derived from the audited financial statements at that date but does not include all of the disclosures required by GAAP. These interim condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes thereto included in our 2018 Form 10-K. SSE Holdings is considered a variable interest entity. Shake Shack Inc. is the primary beneficiary as we have the majority economic interest in SSE Holdings and, as the sole managing member, have decision making authority that significantly affects the economic performance of the entity, while the limited partners have no substantive kick-out or participating rights. As a result, we consolidate SSE Holdings. The assets and liabilities of SSE Holdings represent substantially all of our consolidated assets and liabilities with the exception of certain deferred taxes and liabilities under the Tax Receivable Agreement. As of September 25, 2019 and December 26, 2018 , the net assets of SSE Holdings were $272,947 and $232,711 , respectively. The assets of SSE Holdings are subject to certain restrictions in SSE Holdings' revolving credit agreement. See Note 8 for more information.
Fiscal Year	Fiscal Year We operate on a 52/53 week fiscal year ending on the last Wednesday in December. Fiscal 2019 contains 52 weeks and ends on December 25, 2019 . Fiscal 2018 contained 52 weeks and ended on December 26, 2018 . Unless otherwise stated, references to years in this report relate to fiscal years.
Use of Estimates	Use of Estimates The preparation of these condensed consolidated financial statements in conformity with GAAP requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of sales and expenses during the reporting period. Actual results could differ from those estimates.
Recently Adopted and Issued Accounting Pronouncements	Recently Adopted Accounting Pronouncements We adopted the Accounting Standards Updates (“ASUs”) summarized below in fiscal 2019. Accounting Standards Update (“ASU”) Description Date Adopted Leases (ASU's 2016-02, 2018-01, 2018-10, 2018-11) This standard establishes a new lease accounting model, which introduces the recognition of lease assets and liabilities for those leases classified as operating leases under previous GAAP. It was applied using a modified retrospective approach applied at the adoption date with the election of various practical expedients. See Note 9 Leases for more information. December 27, 2018

REVENUE (Tables)

REVENUE (Tables)	9 Months Ended
	Sep. 25, 2019
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue	Revenue recognized during the thirteen and thirty-nine weeks ended September 25, 2019 and September 26, 2018 , disaggregated by type is as follows: Thirteen Weeks Ended Thirty-Nine Weeks Ended September 25 2019 September 26 September 25 2019 September 26 Shack sales $ 152,366 $ 115,882 $ 428,811 $ 324,869 Licensing revenue: Sales-based royalties 5,293 3,660 13,938 9,951 Initial territory and opening fees 103 105 335 225 Total revenue $ 157,762 $ 119,647 $ 443,084 $ 335,045
Schedule of Contract with Customer, Asset and Liability	Opening and closing balances of contract liabilities and receivables from contracts with customers is as follows: September 25 2019 December 27 Shack sales receivables $ 2,945 $ 2,550 Licensing receivables 4,494 2,616 Gift card liability 1,770 1,796 Deferred revenue, current 421 307 Deferred revenue, long-term 11,197 10,026 Revenue recognized during the thirteen and thirty-nine weeks ended September 25, 2019 and September 26, 2018 that was included in their respective liability balances at the beginning of the period is as follows: Thirteen Weeks Ended Thirty-Nine Weeks Ended September 25 2019 September 26 September 25 2019 September 26 Gift card liability $ 84 $ 59 $ 467 $ 467 Deferred revenue, current 86 67 305 185

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	9 Months Ended
	Sep. 25, 2019
Fair Value Disclosures [Abstract]
Schedule of Cash and Cash Equivalents	The following tables summarize our cash, cash equivalents and marketable securities by significant investment categories as of September 25, 2019 and December 26, 2018 : September 25, 2019 Cost Basis Gross Unrealized Gains Gross Unrealized Losses Fair Value Cash and Cash Equivalents Marketable Securities Cash $ 39,499 $ — $ — $ 39,499 $ 39,499 $ — Level 1: Money market funds 5,006 — — 5,006 5,006 — Mutual funds 36,227 109 36,336 — 36,336 Total $ 80,732 $ 109 $ — $ 80,841 $ 44,505 $ 36,336 December 26, 2018 Cost Basis Gross Unrealized Gains Gross Unrealized Losses Fair Value Cash and Cash Equivalents Marketable Securities Cash $ 19,746 $ — $ — $ 19,746 $ 19,746 $ — Level 1: Money market funds 5,004 — — 5,004 5,004 — Mutual funds 62,235 — (122 ) 62,113 — 62,113 Total $ 86,985 $ — $ (122 ) $ 86,863 $ 24,750 $ 62,113
Schedule of Unrealized Loss on Investments
Schedule of Other Income From Available for Sale Securities	A summary of other income from available-for-sale securities recognized during the thirteen and thirty-nine weeks ended September 25, 2019 and September 26, 2018 is as follows: Thirteen Weeks Ended Thirty-Nine Weeks Ended September 25 2019 September 26 September 25 2019 September 26 Available-for-sale securities: Dividend income $ 254 $ 373 $ 997 $ 977 Interest income — — — 7 Realized gain (loss) on sale of investments — 1 22 (15 ) Unrealized gain on available-for-sale equity securities — 62 231 1 Total other income, net $ 254 $ 436 $ 1,250 $ 970
Schedule of Available-for-sale Securities and Gross Realized Gains and Losses	A summary of available-for-sale securities sold and gross realized gains and losses recognized during the thirteen and thirty-nine weeks ended September 25, 2019 and September 26, 2018 is as follows: Thirteen Weeks Ended Thirty-Nine Weeks Ended September 25 2019 September 26 September 25 2019 September 26 Available-for-sale securities: Gross proceeds from sales and redemptions $ — $ — $ 27,000 $ 2,144 Cost basis of sales and redemptions — — 26,978 2,160 Gross realized gains included in net income — — 36 2 Gross realized losses included in net income — — (14 ) (18 ) Amounts reclassified out of accumulated other comprehensive loss — — — 16

INVENTORIES (Tables)

INVENTORIES (Tables)	9 Months Ended
	Sep. 25, 2019
Inventory Disclosure [Abstract]
Inventories	Inventories as of September 25, 2019 and December 26, 2018 consisted of the following: September 25 December 26 Food $ 1,344 $ 1,291 Wine 95 83 Beer 100 95 Beverages 211 203 Retail merchandise 32 77 Inventories $ 1,782 $ 1,749

PROPERTY AND EQUIPMENT (Tables)

PROPERTY AND EQUIPMENT (Tables)	9 Months Ended
	Sep. 25, 2019
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Property and equipment as of September 25, 2019 and December 26, 2018 consisted of the following: September 25 December 26 Leasehold improvements $ 278,585 $ 228,453 Landlord funded assets — 15,595 Equipment 50,853 40,716 Furniture and fixtures 16,868 14,055 Computer equipment and software 22,813 19,008 Financing equipment lease assets 6,537 — Construction in progress (1) 39,927 29,474 Property and equipment, gross 415,583 347,301 Less: accumulated depreciation 111,233 85,447 Property and equipment, net $ 304,350 $ 261,854 (

SUPPLEMENTAL BALANCE SHEET IN_2

SUPPLEMENTAL BALANCE SHEET INFORMATION (Tables)	9 Months Ended
	Sep. 25, 2019
Supplemental Balance Sheet Disclosures [Abstract]
Supplemental Balance Sheet Information	The components of other current liabilities as of September 25, 2019 and December 26, 2018 are as follows: September 25 December 26 Sales tax payable $ 3,810 $ 3,143 Current portion of liabilities under tax receivable agreement 5,177 5,804 Gift card liability 1,770 1,796 Current portion of financing equipment lease liabilities 1,796 — Other 3,398 3,287 Other current liabilities $ 15,951 $ 14,030

NON-CONTROLLING INTERESTS (Tabl

NON-CONTROLLING INTERESTS (Tables)	9 Months Ended
	Sep. 25, 2019
Noncontrolling Interest [Abstract]
Schedule of Ownership Interests in SSE Holdings	The following table summarizes the ownership interest in SSE Holdings as of September 25, 2019 and December 26, 2018 . September 25, 2019 December 26, 2018 LLC Interests Ownership% LLC Interests Ownership % Number of LLC Interests held by Shake Shack Inc. 33,651,950 89.8 % 29,520,833 79.6 % Number of LLC Interests held by non-controlling interest holders 3,809,347 10.2 % 7,557,347 20.4 % Total LLC Interests outstanding 37,461,297 100.0 % 37,078,180 100.0 %
Schedule of Non-Controlling Interest	The following table summarizes the effects of changes in ownership of SSE Holdings on our equity during the thirteen and thirty-nine weeks ended September 25, 2019 and September 26, 2018 . Thirteen Weeks Ended Thirty-Nine Weeks Ended September 25 September 26 September 25 September 26 Net income attributable to Shake Shack Inc. $ 10,344 $ 5,025 $ 21,920 $ 16,137 Other comprehensive income: Net change related to available-for-sale securities — — — 10 Transfers (to) from non-controlling interests: Increase in additional paid-in capital as a result of the redemption of LLC Interests 1,634 7,274 7,115 14,633 Increase in additional paid-in-capital as a result of the GTC Merger 19,218 — 19,218 — Increase (decrease) in additional paid-in capital as a result of activity under stock compensation plans 1,789 215 2,718 2,318 Total effect of changes in ownership interest on equity attributable to Shake Shack Inc. $ 32,985 $ 12,514 $ 50,971 $ 33,098

EQUITY-BASED COMPENSATION (Tabl

EQUITY-BASED COMPENSATION (Tables)	9 Months Ended
	Sep. 25, 2019
Share-based Payment Arrangement [Abstract]
Schedule of Equity-Based Compensation Expense Recognized	A summary of equity-based compensation expense recognized during the thirteen and thirty-nine weeks ended September 25, 2019 and September 26, 2018 is as follows: Thirteen Weeks Ended Thirty-Nine Weeks Ended September 25 September 26 September 25 September 26 Stock options $ 637 $ 719 $ 1,974 $ 2,319 Performance stock units 720 750 2,439 1,668 Restricted stock units 522 167 1,338 483 Equity-based compensation expense $ 1,879 $ 1,636 $ 5,751 $ 4,470 Total income tax benefit recognized related to equity-based compensation $ 48 $ 46 $ 141 $ 126

INCOME TAXES (Tables)

INCOME TAXES (Tables)	9 Months Ended
	Sep. 25, 2019
Income Tax Disclosure [Abstract]
Schedule of Effective Income Tax Rate Reconciliation	A reconciliation of income tax expense computed at the U.S. federal statutory income tax rate to the recognized income tax expense is as follows: Thirteen Weeks Ended Thirty-Nine Weeks Ended September 25 September 26 September 25 September 26 Expected U.S. federal income taxes at statutory rate $ 1,738 21.0 % $ 1,930 21.0 % $ 5,492 21.0 % $ 5,917 21.0 % State and local income taxes, net of federal benefit 505 6.1 % 643 7.0 % 1,746 6.7 % 1,885 6.7 % Foreign withholding taxes 655 7.9 % 298 3.2 % 1,624 6.2 % 1,100 3.9 % Tax credits and adjustments to forecasted rate (2,874 ) (34.7 )% (181 ) (2.0 )% (4,697 ) (18.0 )% (1,378 ) (4.9 )% Return to provision adjustment (153 ) (1.8 )% — — % (153 ) (0.6 )% — — % Non-controlling interest (346 ) (4.2 )% (430 ) (4.7 )% (1,291 ) (4.9 )% (1,615 ) (5.7 )% Tax effect of change in basis related to the adoption of ASC 842 — — % — — % 1,161 4.4 % — — % Change in valuation allowance (2,587 ) (31.3 )% — — % (3,847 ) (14.7 )% — — % Other (82 ) (1.0 )% (19 ) (0.2 )% (82 ) (0.3 )% (230 ) (0.8 )% Income tax expense $ (3,144 ) (38.0 )% $ 2,241 24.4 % $ (47 ) (0.2 )% $ 5,679 20.2 %

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	9 Months Ended
	Sep. 25, 2019
Earnings Per Share [Abstract]
Schedule of Earnings Per Share	The following table sets forth reconciliations of the numerators and denominators used to compute basic and diluted earnings per share of Class A common stock for the thirteen and thirty-nine weeks ended September 25, 2019 and September 26, 2018 . Thirteen Weeks Ended Thirty-Nine Weeks Ended September 25 September 26 September 25 September 26 Numerator: Net income $ 11,423 $ 6,946 $ 26,201 $ 22,496 Less: net income attributable to non-controlling interests 1,079 1,921 4,281 6,359 Net income attributable to Shake Shack Inc. $ 10,344 $ 5,025 $ 21,920 $ 16,137 Denominator: Weighted-average shares of Class A common stock outstanding—basic 31,961 28,954 30,549 27,930 Effect of dilutive securities: Stock options 824 857 777 809 Performance stock units 50 51 64 63 Restricted stock units 81 21 51 18 Weighted-average shares of Class A common stock outstanding—diluted 32,916 29,883 31,441 28,820 Earnings per share of Class A common stock—basic $ 0.32 $ 0.17 $ 0.72 $ 0.58 Earnings per share of Class A common stock—diluted $ 0.31 $ 0.17 $ 0.70 $ 0.56

SUPPLEMENTAL CASH FLOW INFORM_2

SUPPLEMENTAL CASH FLOW INFORMATION (Tables)	9 Months Ended
	Sep. 25, 2019
Supplemental Cash Flow Elements [Abstract]
Schedule of Cash Flow Information	The following table sets forth supplemental cash flow information for the thirty-nine weeks ended September 25, 2019 and September 26, 2018 : Thirty-Nine Weeks Ended September 25 September 26 Cash paid for: Income taxes, net of refunds $ 2,483 $ 2,015 Interest, net of amounts capitalized 157 1,601 Non-cash investing activities: Accrued purchases of property and equipment 17,394 17,697 Capitalized landlord assets for leases where we are deemed the accounting owner — 4,478 Capitalized equity-based compensation 79 64 Non-cash financing activities: Class A common stock issued in connection with the redemption of LLC Interests 1 2 Class A common stock issued in connection with the GTC merger 3 — Cancellation of Class B common stock in connection with the redemption of LLC Interests (1 ) (2 ) Cancellation of Class B common stock in connection with the GTC Merger (3 ) — Establishment of liabilities under tax receivable agreement 20,027 42,641

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 25, 2019
Leases [Abstract]
New Accounting Pronouncements	Upon transition, on December 27, 2018, we recorded the following increases (decreases) to the respective line items on the Condensed Consolidated Balance Sheet: Adjustment as of December 27, 2018 Prepaid expenses and other current assets $ 6 Property and equipment, net (11,448 ) Operating lease assets 229,885 Deferred income taxes, net (121 ) Deemed landlord financing (20,846 ) Deferred rent (47,862 ) Long-term operating lease liabilities 277,224 Other long-term liabilities 4,611 Retained earnings 4,136 Non-controlling interests 1,059
Lease, Cost	A summary of finance and operating lease right-of-use assets and liabilities as of September 25, 2019 is as follows: Classification September 25 2019 Finance leases Property and equipment, net $ 5,046 Operating leases Operating lease assets 279,975 Total right-of-use assets $ 285,021 Finance leases: Other current liabilities 1,796 Other long-term liabilities 3,310 Operating leases: Operating lease liabilities, current 26,441 Long-term operating lease liabilities 316,161 Total lease liabilities $ 347,708 The components of lease expense for the thirteen and thirty-nine weeks ended September 25, 2019 were as follows: Thirteen Weeks Ended Thirty-Nine Weeks Ended Classification September 25 September 25 Finance lease cost: Amortization of right-of-use assets Depreciation expense $ 538 $ 1,491 Interest on lease liabilities Interest expense 52 148 Operating lease cost Occupancy and related expenses General and administrative expenses Pre-opening costs 10,564 29,329 Short-term lease cost Occupancy and related expenses 279 313 Variable lease cost Occupancy and related expenses General and administrative expenses Pre-opening costs 4,338 11,636 Total lease cost $ 15,771 $ 42,917 A summary of lease terms and discount rates for finance and operating leases as of September 25, 2019 is as follows: September 25 Weighted-average remaining lease term (years): Finance leases 5.2 Operating leases 10.0 Weighted-average discount rate: Finance leases 3.9 % Operating leases 4.7 % Supplemental cash flow information related to leases as of September 25, 2019 is as follows: September 25 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from finance leases $ 148 Operating cash flows from operating leases 27,238 Financing cash flows from finance leases 1,433 Right-of-use assets obtained in exchange for lease obligations: Finance leases 1,927 Operating leases 65,773
Lessee, Operating Lease, Liability, Maturity	As of September 25, 2019 , future minimum lease payments for finance and operating leases consisted of the following: Finance Leases Operating Leases 2019 $ 538 $ 23,285 2020 1,791 45,901 2021 1,194 45,408 2022 804 47,261 2023 620 47,315 Thereafter 587 278,647 Total minimum payments 5,534 487,817 Less: imputed interest 428 145,215 Total lease liabilities $ 5,106 $ 342,602
Finance Lease, Liability, Maturity	As of September 25, 2019 , future minimum lease payments for finance and operating leases consisted of the following: Finance Leases Operating Leases 2019 $ 538 $ 23,285 2020 1,791 45,901 2021 1,194 45,408 2022 804 47,261 2023 620 47,315 Thereafter 587 278,647 Total minimum payments 5,534 487,817 Less: imputed interest 428 145,215 Total lease liabilities $ 5,106 $ 342,602

Leases Schedule of Accounting P

Leases Schedule of Accounting Pronouncements (Details) - USD ($) $ in Thousands	Sep. 25, 2019	Dec. 27, 2018	Dec. 26, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Prepaid Expense and Other Assets, Current	$ 1,723		$ 1,984
Property and equipment, net	(304,350)		(261,854)
Operating lease assets	279,975		0
Deferred income taxes, net	(268,855)		(242,533)
Deemed landlord financing	0		(20,846)
Deferred rent	0		47,864
Long-term operating lease liabilities	316,161		0
Other long-term liabilities	14,910		10,498
Retained earnings	56,460		30,404
Non-controlling interests	$ 27,679		$ 47,380
Accounting Standards Update 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Prepaid Expense and Other Assets, Current		$ (6)
Property and equipment, net		(11,448)
Operating lease assets		229,885
Deferred income taxes, net		(121)
Deemed landlord financing		(20,846)
Deferred rent		(47,862)
Long-term operating lease liabilities		277,224
Other long-term liabilities		4,611
Retained earnings		4,136
Non-controlling interests		$ 1,059

NATURE OF OPERATIONS (Details)

NATURE OF OPERATIONS (Details) - Restaurant	Sep. 25, 2019	Dec. 26, 2018
Class of Stock [Line Items]
Ownership percent of noncontrolling interest	89.80%	79.60%
Number of restaurants	254
United States | Company-operated
Class of Stock [Line Items]
Number of restaurants	151
United States | Licensed
Class of Stock [Line Items]
Number of restaurants	17
Non-United States | Licensed
Class of Stock [Line Items]
Number of restaurants	86

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($) $ in Thousands	Sep. 25, 2019	Dec. 26, 2018
Variable Interest Entity, Primary Beneficiary
Variable Interest Entity [Line Items]
Net assets held by SSE holders	$ 272,947	$ 232,711

REVENUE - Narrative (Details)

REVENUE - Narrative (Details) - USD ($) $ in Thousands	Sep. 25, 2019	Dec. 26, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Other long-term liabilities	$ 14,910	$ 10,498
Other current liabilities	15,951	$ 14,030
Revenue, remaining performance obligation	$ 16,573

REVENUE - Schedule of Revenue R

REVENUE - Schedule of Revenue Recognized (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 25, 2019	Sep. 26, 2018	Sep. 25, 2019	Sep. 26, 2018
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	$ 157,762	$ 119,647	$ 443,084	$ 335,045

REVENUE - Schedule of Disaggreg

REVENUE - Schedule of Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 25, 2019	Sep. 26, 2018	Sep. 25, 2019	Sep. 26, 2018
Disaggregation of Revenue [Line Items]
Document Period End Date			Sep. 25, 2019
Revenue from contract with customer	$ 157,762	$ 119,647	$ 443,084	$ 335,045
Shack Sales [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	152,366	115,882	428,811	324,869
Sales-Based Royalties [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	5,293	3,660	13,938	9,951
Initial territory and opening fees
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	$ 103	$ 105	$ 335	$ 225

REVENUE - Schedule of Respectiv

REVENUE - Schedule of Respective Liability Balances (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 25, 2019	Dec. 26, 2018
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Document Period End Date	Sep. 25, 2019
Gift card liability	$ 1,770	$ 1,796
Deferred revenue, current	421	307
Deferred revenue, long-term	11,197	10,026
Shack Sales [Member]
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Contract with customer, asset, net	2,945	2,550
Licensing receivables
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Contract with customer, asset, net	$ 4,494	$ 2,616

REVENUE - Liability Balance (De

REVENUE - Liability Balance (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 25, 2019	Sep. 26, 2018	Sep. 25, 2019	Sep. 26, 2018
Disaggregation of Revenue [Line Items]
Document Period End Date			Sep. 25, 2019
Gift card liability	$ 84	$ 59	$ 467	$ 467
Deferred revenue, current	$ 86	$ 67	$ 305	$ 185

FAIR VALUE MEASUREMENTS - Cash,

FAIR VALUE MEASUREMENTS - Cash, Cash Equivalents and Marketable Securities (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 25, 2019	Dec. 26, 2018	Sep. 26, 2018	Dec. 27, 2017
Debt Securities, Available-for-sale [Line Items]
Document Period End Date	Sep. 25, 2019
Cost Basis	$ 44,505	$ 24,750	$ 29,295	$ 21,507
Total cost basis including Mutual Funds	80,732	86,985
Gross Unrealized Gains	109	0
Gross Unrealized Losses	0	(122)
Cash and cash equivalents fair value	44,505	24,750
Fair value of marketable securities	36,336	62,113
Fair Value	80,841	86,863
Level 1 | Mutual funds
Debt Securities, Available-for-sale [Line Items]
Mutual funds	36,227	62,235
Gross Unrealized Gains	109	0
Gross Unrealized Losses		(122)
Fair value of marketable securities	36,336	62,113
Cash
Debt Securities, Available-for-sale [Line Items]
Cost Basis	39,499	19,746
Cash and cash equivalents fair value	39,499	19,746
Money market funds | Level 1
Debt Securities, Available-for-sale [Line Items]
Cost Basis	5,006	5,004
Cash and cash equivalents fair value	$ 5,006	$ 5,004

FAIR VALUE MEASUREMENTS - Addit

FAIR VALUE MEASUREMENTS - Additional Information (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 25, 2019	Sep. 26, 2018	Sep. 25, 2019	Sep. 26, 2018
Fair Value Disclosures [Abstract]
Unrealized Gain (Loss) on Securities	$ 0	$ (62,000)	$ 231,000	$ 1,000
Asset impairment charges	$ 0	$ 0	$ 0	$ 0

FAIR VALUE MEASUREMENTS - Unrea

FAIR VALUE MEASUREMENTS - Unrealized Loss on Investments (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 25, 2019	Sep. 26, 2018	Sep. 25, 2019	Sep. 26, 2018
Gain (Loss) on Securities [Line Items]
Document Period End Date			Sep. 25, 2019
Unrealized Gain (Loss) on Securities	$ 0	$ (62)	$ 231	$ 1

FAIR VALUE MEASUREMENTS - Other

FAIR VALUE MEASUREMENTS - Other Income From Available For Sale Securities (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 25, 2019	Sep. 26, 2018	Sep. 25, 2019	Sep. 26, 2018
Available-for-sale securities
Document Period End Date			Sep. 25, 2019
Unrealized Gain (Loss) on Securities	$ 0	$ (62)	$ 231	$ 1
Total other income, net	248	436	1,259	1,070
Available-for-sale Securities
Available-for-sale securities
Dividend income	254	373	997	977
Interest income	0	0	0	7
Realized gain (loss) on sale of investments	0	1	22	(15)
Unrealized Gain (Loss) on Securities	0	62
Unrealized gain (loss) on available-for-sale equity securities			231	1
Total other income, net	$ 254	$ 436	$ 1,250	$ 970

FAIR VALUE MEASUREMENTS - Avail

FAIR VALUE MEASUREMENTS - Available for Sale Securities and Gross Realized Gains and Losses (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 25, 2019	Sep. 26, 2018	Sep. 25, 2019	Sep. 26, 2018
Fair Value Disclosures [Abstract]
Document Period End Date				Sep. 25, 2019
Available-for-sale securities:
Gross proceeds from sales and redemptions		$ 0	$ 0	$ 27,000	$ 2,144
Cost basis of sales and redemptions		0	0	26,978	2,160
Gross realized gains included in net income		0	0	36	2
Gross realized losses included in net income		0	0	(14)	(18)
Amounts reclassified out of accumulated other comprehensive loss	[1]	$ 0	$ 0	$ 0	$ 16
[1]	Net of tax benefit (expense) of $0 for the thirteen and thirty-nine weeks ended September 25, 2019 and September 26, 2018

INVENTORIES (Details)

INVENTORIES (Details) - USD ($) $ in Thousands	Sep. 25, 2019	Dec. 26, 2018
Inventory [Line Items]
Inventories	$ 1,782	$ 1,749
Food
Inventory [Line Items]
Inventories	1,344	1,291
Wine
Inventory [Line Items]
Inventories	95	83
Beer
Inventory [Line Items]
Inventories	100	95
Beverages
Inventory [Line Items]
Inventories	211	203
Retail merchandise
Inventory [Line Items]
Inventories	$ 32	$ 77

PROPERTY AND EQUIPMENT (Details

PROPERTY AND EQUIPMENT (Details) - USD ($) $ in Thousands	Sep. 25, 2019	Dec. 26, 2018
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 415,583	$ 347,301
Less: accumulated depreciation	111,233	85,447
Property and equipment, net	304,350	261,854
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	278,585	228,453
Landlord funded assets
Property, Plant and Equipment [Line Items]
Property and equipment, gross	0	15,595
Equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	50,853	40,716
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property and equipment, gross	16,868	14,055
Computer equipment and software
Property, Plant and Equipment [Line Items]
Property and equipment, gross	22,813	19,008
Financing equipment lease assets [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	6,537	0
Construction in progress(1)
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 39,927	$ 29,474

SUPPLEMENTAL BALANCE SHEET IN_3

SUPPLEMENTAL BALANCE SHEET INFORMATION (Details) - USD ($) $ in Thousands	Sep. 25, 2019	Dec. 26, 2018
Supplemental Balance Sheet Disclosures [Abstract]
Finance Lease, Liability, Current	$ 1,796	$ 0
Other Liabilities, Current
Sales tax payable	3,810	3,143
Current portion of liabilities under tax receivable agreement	5,177	5,804
Gift card liability	1,770	1,796
Other	3,398	3,287
Other current liabilities	$ 15,951	$ 14,030

SUPPLEMENTAL BALANCE SHEET IN_4

SUPPLEMENTAL BALANCE SHEET INFORMATION Other long-term liabilities (Details) - USD ($) $ in Thousands	Sep. 25, 2019	Dec. 26, 2018
Other Liabilities Disclosure [Abstract]
Contract with Customer, Liability, Noncurrent	$ 11,197	$ 10,026
Finance Lease, Liability, Noncurrent	3,310	0
Other Sundry Liabilities, Noncurrent	403	472
Other Liabilities, Noncurrent	$ 14,910	$ 10,498

DEBT (Details)

DEBT (Details) - USD ($)	Feb. 04, 2015	Sep. 25, 2019	Sep. 26, 2018	Sep. 25, 2019	Sep. 26, 2018	Dec. 26, 2018
Debt Instrument [Line Items]
Document Period End Date				Sep. 25, 2019
Deemed landlord financing		$ 0		$ 0		$ 20,846,000
Interest costs incurred		133,000	$ 633,000	302,000	$ 1,897,000
Interest costs capitalized		0	$ 41,000		$ 127,000
Notes payable
Debt Instrument [Line Items]
Notes payable						$ 0
Revolving Credit Facility [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity		50,000,000		50,000,000
Line of Credit Facility, Incremental Borrowing Capacity		100,000,000		100,000,000
Third Amendment and Restated Credit Arrangement | Line of credit
Debt Instrument [Line Items]
Term to maturity	5 years
Third Amendment and Restated Credit Arrangement | Letter of credit | Line of credit
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 15,000,000		$ 15,000,000
Third Amendment and Restated Credit Arrangement | Minimum | Line of credit | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate			1.00%
Third Amendment and Restated Credit Arrangement | Minimum | Line of credit | Prime rate
Debt Instrument [Line Items]
Basis spread on variable rate			0.00%
Third Amendment and Restated Credit Arrangement | Maximum | Line of credit | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate			1.50%
Third Amendment and Restated Credit Arrangement | Maximum | Line of credit | Prime rate
Debt Instrument [Line Items]
Basis spread on variable rate			0.50%

NON-CONTROLLING INTERESTS - Own

NON-CONTROLLING INTERESTS - Ownership Interest in SSE Holdings (Details) - shares	9 Months Ended
	Sep. 25, 2019	Dec. 26, 2018
Noncontrolling Interest [Abstract]
Document Period End Date	Sep. 25, 2019
Number of LLC Interests held by Shake Shack Inc. (in shares)	33,651,950	29,520,833
Number of LLC Interests held by non-controlling interest holders (in shares)	3,809,347	7,557,347
Total LLC Interests outstanding (in shares)	37,461,297	37,078,180
Number of LLC Interests held by Shake Shack Inc. (as a percentage)	89.80%	79.60%
Number of LLC Interests held by non-controlling interest holders (as a percentage)	10.20%	20.40%
Total LLC Interests outstanding (as a percentage)	100.00%	100.00%

NON-CONTROLLING INTERESTS - Nar

NON-CONTROLLING INTERESTS - Narrative (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 25, 2019	Sep. 26, 2018	Sep. 25, 2019	Sep. 26, 2018
Noncontrolling Interest [Line Items]
Document Period End Date			Sep. 25, 2019
Non-controlling interest holders' weighted average ownership percentage	14.40%	21.80%	17.90%	24.40%
Number of units redeemed (in shares)	231,599	1,235,671	1,057,737	2,561,086
Units acquired during the period (in shares)			4,131,117
Effect of Gramercy Tavern Merger, Shares, Conversion of Unit	2,690,263
Redemption or Exchange of Units
Noncontrolling Interest [Line Items]
Units acquired during the period (in shares)	231,599	1,235,671	1,057,737	2,561,086
Employee Stock Option
Noncontrolling Interest [Line Items]
Units acquired during the period (in shares)	172,403	29,353	383,117	282,792

NON-CONTROLLING INTERESTS - Ch

NON-CONTROLLING INTERESTS - Changes in Ownership Interests in SSE Holdings (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 25, 2019	Sep. 26, 2018	Sep. 25, 2019	Sep. 26, 2018
Noncontrolling Interest [Line Items]
Net income attributable to Shake Shack Inc.	$ 10,344	$ 5,025	$ 21,920	$ 16,137
Other comprehensive income:
Net change related to available-for-sale securities	0	0	0	13
Transfers (to) from non-controlling interests:
Total effect of changes in ownership interest on equity attributable to Shake Shack Inc.	32,985	12,514	50,971	33,098
Gramercy Tavern [Member]
Transfers (to) from non-controlling interests:
Increase (decrease) in additional paid-in capital	19,218	0	19,218	0
Redemption or Exchange of Units
Transfers (to) from non-controlling interests:
Increase (decrease) in additional paid-in capital	1,634	7,274	7,115	14,633
Employee Stock Option
Transfers (to) from non-controlling interests:
Increase (decrease) in additional paid-in capital	1,789	215	2,718	2,318
Net change related to available-for-sale securities
Other comprehensive income:
Net change related to available-for-sale securities	$ 0	$ 0	$ 0	$ 10

EQUITY-BASED COMPENSATION - Sch

EQUITY-BASED COMPENSATION - Schedule of compensation expense recognized (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 25, 2019	Sep. 26, 2018	Sep. 25, 2019	Sep. 26, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation expense	$ 1,879	$ 1,636	$ 5,751	$ 4,470
Total income tax benefit recognized related to equity-based compensation	48	46	141	126
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation expense	637	719	1,974	2,319
Performance stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation expense	720	750	2,439	1,668
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation expense	522	167	1,338	483
General and Administrative Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation expense	1,795	1,598	5,521	4,358
Labor And Related Expenses [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation expense	$ 84	$ 38	$ 230	$ 112

INCOME TAXES - Reconciliation o

INCOME TAXES - Reconciliation of Income Tax Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 25, 2019	Sep. 26, 2018	Sep. 25, 2019	Sep. 26, 2018
Income Tax Disclosure [Abstract]
Expected U.S. federal income taxes at statutory rate	$ 1,738	$ 1,930	$ 5,492	$ 5,917
Expected U.S. federal income taxes at statutory rate, percentage	21.00%	21.00%	21.00%	21.00%
State and local income taxes, net of federal benefit	$ 505	$ 643	$ 1,746	$ 1,885
State and local income taxes, net of federal benefit, percentage	6.10%	7.00%	6.70%	6.70%
Foreign withholding taxes	$ 655	$ 298	$ 1,624	$ 1,100
Foreign withholding taxes, percentage	7.90%	3.20%	6.20%	3.90%
Tax credits	$ (2,874)	$ (181)	$ (4,697)	$ (1,378)
Tax credits, percentage	(34.70%)	(2.00%)	(18.00%)	(4.90%)
Effective Income Tax Rate Reconciliation, Return To Provision Adjustment, Amount	$ 153	$ 0	$ 153	$ 0
Effective Income Tax Rate Reconciliation, Return To Provision Adjustment, Percent	1.80%	0.00%	0.60%	0.00%
Non-controlling interest	$ (346)	$ (430)	$ (1,291)	$ (1,615)
Non-controlling interest, percentage	(4.20%)	(4.70%)	(4.90%)	(5.70%)
Tax effect of change in basis related to ASC 842 adoption	$ 0	$ 0	$ 1,161	$ 0
Tax effect of change in basis related to ASC 842 adoption, percent	0.00%	0.00%	4.40%	0.00%
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Amount	$ (2,587)	$ 0	$ (3,847)	$ 0
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Percent	(31.30%)	0.00%	(14.70%)	0.00%
Other	$ (82)	$ (19)	$ (82)	$ (230)
Other, percentage	(1.00%)	(0.20%)	(0.30%)	(0.80%)
Income tax expense	$ (3,144)	$ 2,241	$ (47)	$ 5,679
Income tax expense, percentage	(38.00%)	24.40%	(0.20%)	20.20%

INCOME TAXES - Narrative (Detai

INCOME TAXES - Narrative (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 25, 2019	Sep. 26, 2018	Sep. 25, 2019	Sep. 26, 2018	Dec. 26, 2018
Income Tax Contingency [Line Items]
Effective income tax rate reconciliation (in percentage)	(38.00%)	24.40%	(0.20%)	20.20%
Ownership percentage, weighted average	85.60%	78.20%	82.10%	75.60%
Units acquired during the period (in shares)			4,131,117
Deferred tax asset recognized as a result of investment in partnership			$ 16,319,000
Deferred tax asset, investment in partnership	$ 181,620,000		181,620,000
Valuation allowance, deferred tax asset	763,000		763,000
Deferred tax asset related to additional tax basis			5,624,000
Uncertain tax positions	$ 0		$ 0
Percentage of tax benefits due to equity owners	85.00%		85.00%
Percentage of tax benefits expected to be realized	15.00%		15.00%
Establishment of liabilities under tax receivable agreement			$ 20,027,000	$ 42,641,000
Tax receivable agreement payments to related parties	$ 0	$ 0	707,000	$ 0
Liabilities under tax receivable agreement	223,112,000		223,112,000		$ 203,725,000
Current portion of liabilities under tax receivable agreement	$ 5,177,000		$ 5,177,000		$ 5,804,000
Redemption or Exchange of Units
Income Tax Contingency [Line Items]
Units acquired during the period (in shares)	231,599	1,235,671	1,057,737	2,561,086

EARNINGS PER SHARE - Schedule o

EARNINGS PER SHARE - Schedule of Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 25, 2019	Sep. 26, 2018	Sep. 25, 2019	Sep. 26, 2018
Numerator:
Net income	$ 11,423	$ 6,946	$ 26,201	$ 22,496
Less: net income attributable to non-controlling interests	1,079	1,921	4,281	6,359
NET INCOME ATTRIBUTABLE TO SHAKE SHACK INC.	$ 10,344	$ 5,025	$ 21,920	$ 16,137
Denominator:
Weighted-average shares of Class A common stock outstanding—basic (in shares)	31,961	28,954	30,549	27,930
Effect of dilutive securities:
Weighted-average shares of Class A common stock outstanding—diluted (in shares)	32,916	29,883	31,441	28,820
Earnings per share of Class A common stock—basic (in dollars per share)	$ 0.32	$ 0.17	$ 0.72	$ 0.58
Earnings per share of Class A common stock—diluted (in dollars per share)	$ 0.31	$ 0.17	$ 0.70	$ 0.56
Performance stock units
Effect of dilutive securities:
Stock options (in shares)	50	51	64	63
Restricted stock units
Effect of dilutive securities:
Stock options (in shares)	81	21	51	18
Stock options
Effect of dilutive securities:
Stock options (in shares)	824	857	777	809

EARNINGS PER SHARE - Antidilut

EARNINGS PER SHARE - Antidilutive Securities (Details) - Common Stock [Member] - shares	3 Months Ended		9 Months Ended
	Sep. 25, 2019	Sep. 26, 2018	Sep. 25, 2019	Sep. 26, 2018
Performance stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive shares (in shares)	66,101	59,341	66,101	59,341
Shares of Class B common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive shares (in shares)	3,809,347	7,688,921	3,809,347	7,688,921

SUPPLEMENTAL CASH FLOW INFORM_3

SUPPLEMENTAL CASH FLOW INFORMATION (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 25, 2019	Sep. 26, 2018
Cash paid for:
Income taxes, net of refunds	$ 2,483	$ 2,015
Interest, net of amounts capitalized	157	1,601
Non-cash investing activities:
Accrued purchases of property and equipment	17,394	17,697
Capitalized landlord assets for leases where we are deemed the accounting owner	0	4,478
Capitalized equity-based compensation	79	64
Non-cash financing activities:
Establishment of liabilities under tax receivable agreement	20,027	42,641
Redemption or Exchange of Units | Class A Common Stock
Non-cash financing activities:
Class A common stock issued in connection with the redemption of LLC Interests	1	2
Redemption or Exchange of Units | Class B Common Stock
Non-cash financing activities:
Cancellation of Class B common stock in connection with the redemption of LLC Interests	(1)	(2)
Gramercy Tavern [Member] | Class A Common Stock
Non-cash financing activities:
Class A common stock issued in connection with the redemption of LLC Interests	3	0
Gramercy Tavern [Member] | Class B Common Stock
Non-cash financing activities:
Cancellation of Class B common stock in connection with the redemption of LLC Interests	$ (3)	$ 0

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) - USD ($)	9 Months Ended
	Sep. 25, 2019	Sep. 26, 2018	Dec. 26, 2018	Sep. 30, 2017
Loss Contingencies [Line Items]
Litigation Settlement, Expense	$ 1,200,000
Document Period End Date	Sep. 25, 2019
Loss Contingency Accrual	$ 1,200,000
Percentage of tax benefits due to equity owners	85.00%
Establishment of liabilities under tax receivable agreement	$ 20,027,000	$ 42,641,000
Tax receivable agreement liability	223,112,000		$ 203,725,000
Retail site
Loss Contingencies [Line Items]
Letters of credit outstanding	$ 130,000
Office building
Loss Contingencies [Line Items]
Letters of credit outstanding				$ 603,000
Renewal term	1 year

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details)	3 Months Ended		9 Months Ended
	Sep. 25, 2019USD ($)	Sep. 26, 2018USD ($)	Sep. 25, 2019USD ($)renewal_option	Sep. 26, 2018USD ($)	Dec. 26, 2018USD ($)
Related Party Transaction [Line Items]
Document Period End Date			Sep. 25, 2019
Percentage of tax benefits due to equity owners	85.00%		85.00%
Tax receivable agreement payments to related parties	$ 0	$ 0	$ 707,000	$ 0
Distributions paid to non-controlling interest holders	39,000	22,000	1,706,000	$ 692,000
Tax distributions payable to non-controlling interest holders	0		$ 0		$ 0
Subsidiary to Affiliated Entity
Related Party Transaction [Line Items]
Number of renewal terms | renewal_option			5
Renewal option period				5 years
Share Our Strength
Related Party Transaction [Line Items]
Charitable campaign flow through	190,000	0	$ 190,000	$ 343,000
Expenses from transactions with related party	30,000	0	30,000	53,000
Mobo Systems, Inc. [Member] | Board of Directors Chairman
Related Party Transaction [Line Items]
Amounts due to related parties, current	0		0		0
Expenses from transactions with related party	44,000	28,000	122,000	80,000
Concession Income | Subsidiary to Affiliated Entity
Related Party Transaction [Line Items]
Due from related parties, current	92,000		92,000		37,000
Revenue from related parties	250,000	200,000	401,000	311,000
Rent Expense | Madison Square Park Conservancy
Related Party Transaction [Line Items]
Amounts due to related parties, current	75,000		75,000		70,000
Expenses from transactions with related party	138,000	203,000	692,000	673,000
Mobo Systems, Inc. | Board of Directors Chairman
Related Party Transaction [Line Items]
Amounts due to related parties, current	0		0		$ 0
Expenses from transactions with related party	$ 487,000	$ 122,000	$ 1,195,000	$ 250,000

Lease Narrative (Details)

Lease Narrative (Details)	9 Months Ended
	Sep. 25, 2019option
Operating Leased Assets [Line Items]
Number of renewal options	2
Renewal term	5 years
Minimum
Operating Leased Assets [Line Items]
Term of contract	10 years
Maximum
Operating Leased Assets [Line Items]
Term of contract	15 years

Lease Cost (Details)

Lease Cost (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 25, 2019	Sep. 25, 2019	Dec. 26, 2018
Finance lease liabilities [Line Items]
Document Period End Date		Sep. 25, 2019
Right-of-use assets:
Finance leases	$ 5,046	$ 5,046
Operating leases	279,975	279,975	$ 0
Total right-of-use assets	285,021	285,021
Other current liabilities, finance leases	1,796	1,796
Other long-term liabilities, finance leases	3,310	3,310
Operating Lease, Liability, Current	26,441	26,441	0
Operating Lease, Liability, Noncurrent	316,161	316,161	$ 0
Lease liabilities:
Finance leases	5,106	5,106
Operating leases	342,602	342,602
Total lease liabilities	347,708	347,708
Finance lease cost:
Amortization of right-of-use assets	538	1,491
Interest on lease liabilities	52	148
Operating lease cost	10,564	29,329
Short-term lease cost	279	313
Variable lease cost	4,338	11,636
Total lease cost	$ 15,771	$ 42,917
Weighted Average Lease Term [Abstract]
Finance leases	5 years 2 months 12 days	5 years 2 months 12 days
Operating leases	10 years	10 years
Weighted Average Discount Rate [Abstract]
Finance leases	3.90%	3.90%
Operating leases	4.70%	4.70%
Operating cash flows from finance leases		$ 148
Operating cash flows from operating leases		27,238
Financing cash flows from finance leases		1,433
Right-of-use assets obtained in exchange for new finance lease liabilities		1,927
Right-of-use assets obtained in exchange for new operating lease liabilities		$ 65,773

Lease Maturity (Details)

Lease Maturity (Details) $ in Thousands	Sep. 25, 2019USD ($)
Leases [Abstract]
Operating lease for non-cancellable leases	$ 85,583
Finance Lease, Liability, Payment, Due [Abstract]
2019	538
2020	1,791
2021	1,194
2022	804
2023	620
Thereafter	587
Total minimum payments	5,534
Less: imputed interest	428
Total lease liabilities	5,106
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
2019	23,285
2020	45,901
2021	45,408
2022	47,261
2023	47,315
Thereafter	278,647
Total minimum payments	487,817
Less: imputed interest	145,215
Total lease liabilities	$ 342,602

Uncategorized Items - shak-2019

Label	Element	Value
Amortization of operating lease assets	shak_Amortizationofoperatingleaseassets	$ 0