Shake Shack (SHAK) 10-Q 4 May 20 2020 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information Document and Entity Information - shares	3 Months Ended
	Mar. 25, 2020	Apr. 22, 2020
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	Mar. 25, 2020
Document fiscal year focus	2020
Document fiscal period focus	Q1
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	--12-30
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)		38,173,087
Class B Common Stock
Document Information [Line Items]
Entity common stock, shares outstanding (in shares)		3,117,002

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Thousands	Mar. 25, 2020	Dec. 25, 2019
Current assets:
Cash and cash equivalents	$ 87,806	$ 37,099
Marketable securities	16,423	36,508
Accounts receivable	6,820	9,970
Inventories, net	2,045	2,221
Prepaid expenses and other current assets	2,316	1,877
Total current assets	115,410	87,675
Property and equipment, net	329,039	314,862
Operating lease assets	302,216	274,426
Deferred income taxes, net	281,285	279,817
Other assets	12,058	11,488
TOTAL ASSETS	1,040,008	968,268
Current liabilities:
Accounts payable	15,330	14,300
Accrued expenses	24,228	24,140
Accrued wages and related liabilities	6,338	11,451
Operating lease liabilities, current	43,197	30,002
Other current liabilities	13,735	19,499
Total current liabilities	102,828	99,392
Long-term debt	50,000	0
Long-term operating lease liabilities	322,191	304,914
Liabilities under tax receivable agreement, net of current portion	226,959	226,649
Other long-term liabilities	15,424	15,328
Total liabilities	717,402	646,283
Commitments and contingencies
Stockholders' equity:
Preferred stock, no par value—10,000,000 shares authorized; none issued and outstanding as of March 25, 2020 and December 25, 2019.	0	0
Additional paid-in capital	246,970	244,410
Retained earnings	53,407	54,367
Accumulated other comprehensive income	3	2
Total stockholders' equity attributable to Shake Shack Inc.	300,418	298,817
Non-controlling interests	22,188	23,168
Total equity	322,606	321,985
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	1,040,008	968,268
Class A Common Stock
Stockholders' equity:
Common stock	35	35
Class B Common Stock
Stockholders' equity:
Common stock	$ 3	$ 3

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parenthetical) - $ / shares	Mar. 25, 2020	Dec. 25, 2019
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)	34,523,400	34,417,302
Common stock, shares, outstanding (in shares)	34,523,400	34,417,302
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)	3,117,002	3,145,197
Common stock, shares, outstanding (in shares)	3,117,002	3,145,197

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENT OF INCOME (UNAUDITED) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 25, 2020	Mar. 27, 2019
TOTAL REVENUE	$ 143,170	$ 132,609
Shack-level operating expenses:
Food and paper costs	39,564	37,991
Labor and related expenses	41,766	37,093
Other operating expenses	17,779	15,568
Occupancy and related expenses	12,558	10,899
General and administrative expenses	16,191	13,937
Depreciation expense	11,768	8,966
Pre-opening costs	2,243	2,642
Impairment and loss on disposal of assets	2,088	351
TOTAL EXPENSES	143,957	127,447
OPERATING INCOME (LOSS)	(787)	5,162
Other income (loss), net	(93)	564
Interest expense	(112)	(72)
INCOME (LOSS) BEFORE INCOME TAXES	(992)	5,654
Income tax expense	87	2,047
NET INCOME (LOSS)	(1,079)	3,607
Less: net income (loss) attributable to non-controlling interests	(119)	1,061
NET INCOME (LOSS) ATTRIBUTABLE TO SHAKE SHACK INC.	$ (960)	$ 2,546
Earnings (loss) per share of Class A common stock:
Basic (in dollars per share)	$ (0.03)	$ 0.09
Diluted (in dollars per share)	$ (0.03)	$ 0.08
Weighted-average shares of Class A common stock outstanding:
Basic (in shares)	34,444	29,563
Diluted (in shares)	34,444	30,392
Shack sales
TOTAL REVENUE	$ 138,048	$ 128,569
Licensing revenue
TOTAL REVENUE	$ 5,122	$ 4,040

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended
	Mar. 25, 2020	Mar. 27, 2019
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ (1,079)	$ 3,607
Other comprehensive income, net of tax(1):
Change in foreign currency translation adjustment	1	0
Net change	1	0
OTHER COMPREHENSIVE INCOME	1	0
COMPREHENSIVE INCOME (LOSS)	(1,078)	3,607
Less: comprehensive income (loss) attributable to non-controlling interest	(119)	1,061
COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO SHAKE SHACK INC.	$ (959)	$ 2,546

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) (Parenthetical) - USD ($)	3 Months Ended
	Mar. 25, 2020	Mar. 27, 2019
Statement of Comprehensive Income [Abstract]
Income tax benefit	$ 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	Non- Controlling Interest
Beginning balance (shares) at Dec. 26, 2018				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 (loss)	3,607						2,546		1,061
Other comprehensive income:
Net change in foreign currency translation adjustment	0
Equity-based compensation	1,747					1,747
Activity under stock compensation plans (in shares)				73,563
Activity under stock compensation plans	1,477					975			502
Redemption of LLC Interests (in shares)				(103,832)	(103,832)
Redemption of LLC Interests	0			$ (1)	$ (1)	(594)			(594)
Establishment of liabilities under tax receivable agreement and related changes to deferred tax assets associated with increases in tax basis	366					366
Distributions paid to non-controlling interest holders	(109)								(109)
Ending balance (shares) at Mar. 27, 2019				29,698,228	7,453,515
Ending balance at Mar. 27, 2019	285,738			$ 31	$ 7	199,315	37,086	0	49,299
Beginning balance (shares) at Dec. 25, 2019		34,417,302	3,145,197	34,417,302	3,145,197
Beginning balance at Dec. 25, 2019	321,985			$ 35	$ 3	244,410	54,367	2	23,168
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(1,079)						(960)		(119)
Other comprehensive income:
Net change in foreign currency translation adjustment	1							1
Equity-based compensation	1,313					1,313
Activity under stock compensation plans (in shares)				77,903
Activity under stock compensation plans	63					424			(361)
Redemption of LLC Interests (in shares)				(28,195)	(28,195)
Redemption of LLC Interests	0			$ 0	$ 0	(195)			(195)
Establishment of liabilities under tax receivable agreement and related changes to deferred tax assets associated with increases in tax basis	628					628
Distributions paid to non-controlling interest holders	(305)								(305)
Ending balance (shares) at Mar. 25, 2020		34,523,400	3,117,002	34,523,400	3,117,002
Ending balance at Mar. 25, 2020	$ 322,606			$ 35	$ 3	$ 246,970	$ 53,407	$ 3	$ 22,188

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 25, 2020	Mar. 27, 2019
OPERATING ACTIVITIES
Net income (loss) (including amounts attributable to non-controlling interests)	$ (1,079)	$ 3,607
Adjustments to reconcile net income (loss) to net cash provided by operating activities
Depreciation expense	11,768	8,966
Capitalized Computer Software, Amortization	260	0
Non-cash operating lease cost	$ 10,742	$ 8,911
Noncontrolling Interest, Weighted Average Ownership Percentage	8.40%	20.30%
Equity-based compensation	$ 1,300	$ 1,692
Deferred income taxes	3,775	95
Non-cash interest expense	69	0
(Gain) loss on sale of marketable securities	(79)	0
Impairment and loss on disposal of assets	2,088	351
Unrealized (gain) loss on available-for-sale securities	356	(157)
Other non-cash expense (income)	183	2
Changes in operating assets and liabilities:
Accounts receivable	3,150	5,976
Inventories	306	123
Prepaid expenses and other current assets	(439)	(474)
Other assets	(1,039)	(2,335)
Accounts payable	(4,449)	(61)
Accrued expenses	(6,330)	880
Accrued wages and related liabilities	(5,113)	(3,025)
Other current liabilities	273	963
Long-term operating lease liabilities	(8,755)	(8,324)
Other long-term liabilities	497	9
NET CASH PROVIDED BY OPERATING ACTIVITIES	7,484	17,199
INVESTING ACTIVITIES
Purchases of property and equipment	(19,159)	(24,985)
Purchases of marketable securities	(192)	(389)
Sales of marketable securities	20,000	15,000
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES	649	(10,374)
FINANCING ACTIVITIES
Proceeds from revolving credit facility	50,000	0
Payments on principal of finance leases	(615)	(339)
Distributions paid to non-controlling interest holders	(305)	(109)
Payments under tax receivable agreement	(6,569)	(707)
Proceeds from stock option exercises	1,032	1,452
Payment, Tax Withholding, Share-based Payment Arrangement	(969)	25
NET CASH PROVIDED BY FINANCING ACTIVITIES	42,574	322
NET INCREASE IN CASH AND CASH EQUIVALENTS	50,707	7,147
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	37,099	24,750
CASH AND CASH EQUIVALENTS AT END OF PERIOD	$ 87,806	$ 31,897

NATURE OF OPERATIONS

NATURE OF OPERATIONS	3 Months Ended
	Mar. 25, 2020
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 March 25, 2020 we owned 91.7% 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 March 25, 2020 , there were 287 Shacks in operation, system-wide, of which 167 were domestic company-operated Shacks, 22 were domestic licensed Shacks and 98 were international licensed Shacks. As of March 25, 2020, 12 domestic company-operated Shacks and 37

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Mar. 25, 2020
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 25, 2019 ("2019 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 25, 2019 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 2019 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 March 25, 2020 and December 25, 2019 , the net assets of SSE Holdings were $271,087 and $270,542 , 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 2020 contains 53 weeks and ends on December 30, 2020 . Fiscal 2019 contained 52 weeks and ended on December 25, 2019 . 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 2020 . Accounting Standards Update (“ASU”) Description Date Adopted Measurement of Credit Losses on Financial Instruments (ASU 2016-13) This standard replaces the incurred loss impairment methodology in current GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. The adoption of this standard did not have a material impact to our consolidated financial statements. December 26, 2019 Recently Issued Accounting Pronouncements Accounting Standards Update (“ASU”) Description Expected Impact Effective Date Facilitation of the Effects of Reference Rate Reform on Financial Reporting (ASU 2020-04) This standard provides optional guidance for a limited time to ease the potential accounting burden associated with transitioning away from reference rates that are expected to be discontinued. We are currently evaluating the impact this standard will have on our consolidated financial statements. Effective upon issuance (March 12, 2020) and generally can be applied through December 31, 2022. Simplifying the Accounting for Income Taxes (ASU 2019-12) This standard removes certain exceptions for recognizing deferred taxes for investments, performing intra-period allocation and calculating income taxes in interim periods. It also adds guidance in certain areas, including the recognition of franchise taxes, recognition of deferred taxes for tax goodwill, allocation of taxes to members of a consolidated group, computation of annual effective tax rates related to enacted changes in tax laws, and minor improvements related to employee stock ownership plans and investments in qualified affordable housing projects accounted for using the equity method. We are currently evaluating the impact this standard will have on our consolidated financial statements. December 31, 2020 Early adoption is permitted.

REVENUE

REVENUE	3 Months Ended
	Mar. 25, 2020
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 weeks ended March 25, 2020 and March 27, 2019 , disaggregated by type is as follows: Thirteen Weeks Ended March 25 March 27 Shack sales $ 138,048 $ 128,569 Licensing revenue: Sales-based royalties 4,944 3,904 Initial territory and opening fees 178 136 Total revenue $ 143,170 $ 132,609 The aggregate amount of the transaction price allocated to performance obligations that are unsatisfied (or partially unsatisfied) as of March 25, 2020 was $15,929 . 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: March 25 December 26 Shack sales receivables $ 1,799 $ 4,265 Licensing receivables 4,079 4,510 Gift card liability 2,134 2,258 Deferred revenue, current 545 511 Deferred revenue, long-term 11,299 11,310 Revenue recognized during the thirteen weeks ended March 25, 2020 and March 27, 2019 that was included in their respective liability balances at the beginning of the period is as follows: Thirteen Weeks Ended March 25 March 27 Gift card liability $ 300 $ 278 Deferred revenue 175 134

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	3 Months Ended
	Mar. 25, 2020
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS Assets and Liabilities Measured at Fair Value on a Recurring Basis The following tables present information about our financial assets and liabilities measured at fair value on a recurring basis as of March 25, 2020 and December 25, 2019 , 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 March 25, 2020 and December 25, 2019 : March 25, 2020 Cost Basis Gross Unrealized Gains Gross Unrealized Losses Fair Value Cash and Cash Equivalents Marketable Securities Cash $ 87,806 $ — $ — $ 87,806 $ 87,806 $ — Level 1: Money market funds — — — — — — Mutual funds 16,707 — (284 ) 16,423 — 16,423 Total $ 104,513 $ — $ (284 ) $ 104,229 $ 87,806 $ 16,423 December 25, 2019 Cost Basis Gross Unrealized Gains Gross Unrealized Losses Fair Value Cash and Cash Equivalents Marketable Securities Cash $ 32,094 $ — $ — $ 32,094 $ 32,094 $ — Level 1: Money market funds 5,005 — — 5,005 5,005 — Mutual funds 36,436 72 — 36,508 — 36,508 Total $ 73,535 $ 72 $ — $ 73,607 $ 37,099 $ 36,508 Net un realized losses on equity securities totaling $356 were included on the Condensed Consolidated Statements of Income (Loss) during the thirteen weeks ended March 25, 2020 . Net unrealized gains on equity securities totaling $157 were included on the Condensed Consolidated Statements of Income (Loss) during the thirteen weeks ended March 27, 2019 . A summary of other income from equity securities recognized during the thirteen weeks ended March 25, 2020 and March 27, 2019 is as follows: Thirteen Weeks Ended March 25 March 27 Equity securities: Dividend income $ 184 $ 392 Interest income — — Realized gain (loss) on sale of investments 79 (14 ) Unrealized gain (loss) on equity securities (356 ) 157 Total $ (93 ) $ 535 A summary of equity securities sold and gross realized gains and losses recognized during the thirteen weeks ended March 25, 2020 and March 27, 2019 is as follows: Thirteen Weeks Ended March 25 March 27 Equity securities: Gross proceeds from sales and redemptions $ 20,000 $ 15,000 Cost basis of sales and redemptions 19,921 15,014 Gross realized gains included in net income (loss) 79 — Gross realized losses included in net income (loss) — (14 ) 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 (Loss) . As of March 25, 2020 and December 25, 2019 , 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 March 25, 2020 and December 25, 2019 approximated their fair value due to the short-term nature of these financial instruments. Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis Assets and liabilities that are measured at fair value on a non-recurring basis include our long-lived assets, operating lease right-of-use assets and indefinite-lived intangible assets. During the thirteen weeks ended March 25, 2020 , we recognized an impairment charge of $1,132 at one location. Of the total impairment charge, $736 was attributed to property and equipment held and used, $383 was attributed to operating lease right-of-use assets, and $13 was attributed to finance lease right-of-use assets. The asset impairment charge is included in impairment and loss on disposal of assets on the Condensed Consolidated Statement of Income (Loss). The fair values of assets were determined using an income-based approach and are classified as Level 3 within the fair value hierarchy. Significant inputs include projections of future cash flows, discount rates, Shack sales and profitability. There were no impairment charges recorded during the thirteen weeks ended March 27, 2019 .

INVENTORIES

INVENTORIES	3 Months Ended
	Mar. 25, 2020
Inventory Disclosure [Abstract]
INVENTORIES	INVENTORIES Inventories are stated at the lower of cost or net realizable value with cost determined on a first-in, first-out basis. As of March 25, 2020 , we recorded $130 in inventory reserve for inventories that were deemed to be obsolete or slow moving. As of December 25, 2019 , no adjustment was deemed necessary to reduce inventory to net realizable value due to the rapid turnover and high utilization of inventory. Inventories as of March 25, 2020 and December 25, 2019 consisted of the following: March 25 December 25 Food $ 1,323 $ 1,738 Wine 97 107 Beer 119 114 Beverages 247 233 Retail merchandise 23 29 Paper goods 366 — Inventories before inventory reserve 2,175 2,221 Less: inventory reserve 130 — Inventories, net $ 2,045 $ 2,221

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT	3 Months Ended
	Mar. 25, 2020
Property, Plant and Equipment [Abstract]
PROPERTY AND EQUIPMENT	PROPERTY AND EQUIPMENT Property and equipment as of March 25, 2020 and December 25, 2019 consisted of the following: March 25 December 25 Leasehold improvements $ 312,524 $ 302,204 Equipment 56,482 54,404 Furniture and fixtures 18,497 18,082 Computer equipment and software 25,091 24,226 Financing equipment lease assets 8,079 7,442 Construction in progress 39,469 30,290 Property and equipment, gross 460,142 436,648 Less: accumulated depreciation 131,103 121,786 Property and equipment, net $ 329,039 $ 314,862

SUPPLEMENTAL BALANCE SHEET INFO

SUPPLEMENTAL BALANCE SHEET INFORMATION	3 Months Ended
	Mar. 25, 2020
Supplemental Balance Sheet Disclosures [Abstract]
SUPPLEMENTAL BALANCE SHEET INFORMATION	SUPPLEMENTAL BALANCE SHEET INFORMATION The components of other current liabilities as of March 25, 2020 and December 25, 2019 are as follows: March 25 December 25 Sales tax payable $ 3,814 $ 4,086 Current portion of liabilities under tax receivable agreement 1,207 7,777 Gift card liability 2,134 2,258 Current portion of financing equipment lease liabilities 1,876 1,873 Other 4,704 3,505 Other current liabilities $ 13,735 $ 19,499 The components of other long-term liabilities as of March 25, 2020 and December 25, 2019 are as follows: March 25 December 25 Deferred licensing revenue $ 11,299 $ 11,310 Long-term portion of financing equipment lease liabilities 3,772 3,643 Other 353 375 Other long-term liabilities $ 15,424 $ 15,328

DEBT

DEBT	3 Months Ended
	Mar. 25, 2020
Debt Disclosure [Abstract]
DEBT	DEBT In August 2019, we terminated our previous revolving credit facility and entered into a new revolving credit facility agreement ("Revolving Credit Facility"), which permits borrowings up to $50,000 , of which the entire amount 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 Revolving Credit Facility will mature and all amounts outstanding will be due and payable in August 2024. The Revolving Credit Facility also permits the issuance of letters of credit upon our request of up to $15,000 . Borrowings under the Revolving Credit 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. The obligations under the Revolving Credit Facility are secured by a first-priority security interest in substantially all of the assets of SSE Holdings and the guarantors. The obligations under the Revolving Credit Facility are guaranteed by each of SSE Holdings' direct and indirect subsidiaries (with certain exceptions). The Revolving Credit Facility requires us to comply with maximum net lease adjusted leverage and minimum fixed charge coverage ratios. In addition, the Revolving Credit Facility 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 March 25, 2020 , we were in compliance with all covenants. In March 2020, we drew down the full $50,000 available under the Revolving Credit Facility to enhance liquidity and financial flexibility given the uncertain market conditions created by the COVID-19 pandemic. As of March 25, 2020 , total amounts outstanding under our Revolving Credit Facility were $50,000 , which was classified as long-term debt on the Condensed Consolidated Balance Sheet. In May 2020, we entered into a first amendment to the Revolving Credit Facility ("First Amendment"), which, among other things, provides for modified financial covenant compliance requirements for a period of time. The First Amendment requires us to maintain minimum liquidity of $25,000 through July 1, 2021 and outstanding borrowings during the applicable period covered by the First Amendment bear interest at either: (i) LIBOR plus a percentage ranging from 1.0% to 2.5% or (ii) the base rate plus a percentage ranging from 0.0% to 1.50% , in each case depending on our net lease adjusted leverage ratio. Total interest costs incurred were $112 and $72 for the thirteen weeks ended March 25, 2020 and March 27, 2019 , respectively. No amounts were capitalized into property and equipment for the thirteen weeks ended March 25, 2020 and March 27, 2019 , respectively.

NON-CONTROLLING INTERESTS

NON-CONTROLLING INTERESTS	3 Months Ended
	Mar. 25, 2020
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 March 25, 2020 and December 25, 2019 . March 25, 2020 December 25, 2019 LLC Interests Ownership% LLC Interests Ownership % Number of LLC Interests held by Shake Shack Inc. 34,523,400 91.7 % 34,417,302 91.6 % Number of LLC Interests held by non-controlling interest holders 3,117,002 8.3 % 3,145,197 8.4 % Total LLC Interests outstanding 37,640,402 100.0 % 37,562,499 100.0 % The weighted average ownership percentages for the applicable reporting periods are used to attribute net income (loss) and other comprehensive income (loss) to Shake Shack Inc. and the non-controlling interest holders. The non-controlling interest holders' weighted average ownership percentage for the thirteen weeks ended March 25, 2020 was 8.4% . The non-controlling interest holders' weighted average ownership percentage for the thirteen weeks ended March 27, 2019 was 20.3% . The following table summarizes the effects of changes in ownership of SSE Holdings on our equity during the thirteen weeks ended March 25, 2020 and March 27, 2019 . Thirteen Weeks Ended March 25 March 27 Net income (loss) attributable to Shake Shack Inc. $ (960 ) $ 2,546 Transfers (to) from non-controlling interests: Increase in additional paid-in capital as a result of the redemption of LLC Interests 195 594 Increase in additional paid-in capital as a result of activity under stock compensation plans and the related income tax effect 424 975 Total effect of changes in ownership interest on equity attributable to Shake Shack Inc. $ (341 ) $ 4,115 The following table summarizes redemptions of LLC Interests activity during the thirteen weeks ended March 25, 2020 and March 27, 2019 . Thirteen Weeks Ended March 25 March 27 Redemption and acquisition of LLC Interests Number of LLC Interests redeemed by non-controlling interest holders 28,195 103,832 Number of LLC Interests received by Shake Shack Inc. 28,195 103,832 Issuance of Class A common stock Shares of Class A common stock issued in connection with redemptions of LLC Interests 28,195 103,832 Cancellation of Class B common stock Shares of Class B common stock surrendered and canceled 28,195 103,832 During the thirteen weeks ended March 25, 2020 and March 27, 2019 , we received an aggregate of 77,903 and 73,563 LLC Interests, respectively, in connection with the activity under our stock compensation plan.

EQUITY-BASED COMPENSATION

EQUITY-BASED COMPENSATION	3 Months Ended
	Mar. 25, 2020
Share-based Payment Arrangement [Abstract]
EQUITY-BASED COMPENSATION	EQUITY-BASED COMPENSATION A summary of equity-based compensation expense recognized during the thirteen weeks ended March 25, 2020 and March 27, 2019 is as follows: Thirteen Weeks Ended March 25 March 27 Stock options $ 261 $ 682 Performance stock units 413 712 Restricted stock units 626 298 Equity-based compensation expense $ 1,300 $ 1,692 Total income tax benefit recognized related to equity-based compensation $ 36 $ 42 Equity-based compensation expense is included in general and administrative expenses and labor and related expenses on the Condensed Consolidated Statements of Income (Loss) during the thirteen weeks ended March 25, 2020 and March 27, 2019 as follows: Thirteen Weeks Ended March 25 March 27 General and administrative expenses $ 1,214 $ 1,642 Labor and related expenses 86 50 Equity-based compensation expense $ 1,300 $ 1,692

INCOME TAXES

INCOME TAXES	3 Months Ended
	Mar. 25, 2020
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 March 25 March 27 Expected U.S. federal income taxes at statutory rate $ (208 ) 21.0 % $ 1,188 21.0 % State and local income taxes, net of federal benefit (125 ) 12.6 % 418 7.4 % Foreign withholding taxes 534 (53.8 )% 342 6.0 % Tax credits and adjustments to forecasted rate (34 ) 3.4 % (376 ) (6.6 )% Return to provision adjustment — — % — — % Non-controlling interest (80 ) 8.0 % (323 ) (5.7 )% Tax effect of change in basis related to the adoption of ASC 842 — — % 1,161 20.5 % Change in valuation allowance — — % (365 ) (6.5 )% Other — — % 2 0.1 % Income tax expense $ 87 (8.8 )% $ 2,047 36.2 % Our effective income tax rates for the thirteen weeks ended March 25, 2020 and March 27, 2019 were (8.8)% and 36.2% , respectively. The decrease was primarily driven by lower pre-tax book income resulting in a loss, as well as higher foreign withholding taxes which more than offset the benefit from the pre-tax book loss during the quarter. Additionally, an increase in our ownership interest in SSE Holdings increases our share of the taxable income (loss) of SSE Holdings. Our weighted-average ownership interest in SSE Holdings was 91.6% and 79.7% for the thirteen weeks ended March 25, 2020 and March 27, 2019 , respectively. Deferred Tax Assets and Liabilities During the thirteen weeks ended March 25, 2020 , we acquired an aggregate of 106,098 LLC Interests in connection with the redemption of LLC Interests, and activity relating to our stock compensation plan. We recognized a deferred tax asset in the amount of $851 associated with the basis difference in our investment in SSE Holdings upon acquisition of these LLC Interests. As of March 25, 2020 , the total deferred tax asset related to the basis difference in our investment in SSE Holdings was $178,207 . During the thirteen weeks ended March 25, 2020 , we also recognized $87 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 March 25, 2020 , 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 relating to New York City UBT credits) 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 March 25, 2020 . 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 thirteen weeks ended March 25, 2020 , we acquired an aggregate of 28,195 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 $310 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 thirteen weeks ended March 25, 2020 and March 27, 2019 , payments of $6,569 and $707 , inclusive of interest, were made to the parties to the Tax Receivable Agreement, respectively. As of March 25, 2020 , the total amount of TRA Payments due under the Tax Receivable Agreement, was $228,166 , of which $1,207 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	3 Months Ended
	Mar. 25, 2020
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS (LOSS) PER SHARE Basic earnings (loss) per share of Class A common stock is computed by dividing net income (loss) attributable to Shake Shack Inc. by the weighted-average number of shares of Class A common stock outstanding during the period. Diluted earnings (loss) per share of Class A common stock is computed by dividing net income (loss) 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 (loss) per share of Class A common stock for the thirteen weeks ended March 25, 2020 and March 27, 2019 . Thirteen Weeks Ended March 25 March 27 Numerator: Net income (loss) $ (1,079 ) $ 3,607 Less: net income (loss) attributable to non-controlling interests (119 ) 1,061 Net income (loss) attributable to Shake Shack Inc. $ (960 ) $ 2,546 Denominator: Weighted-average shares of Class A common stock outstanding—basic 34,444 29,563 Effect of dilutive securities: Stock options — 731 Performance stock units — 76 Restricted stock units — 22 Weighted-average shares of Class A common stock outstanding—diluted 34,444 30,392 Earnings (loss) per share of Class A common stock—basic $ (0.03 ) $ 0.09 Earnings (loss) per share of Class A common stock—diluted $ (0.03 ) $ 0.08 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 (loss) 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 (loss) per share of Class A common stock for the thirteen weeks ended March 25, 2020 and March 27, 2019 . Thirteen Weeks Ended March 25 March 27 Stock options 847,207 (1) 3,785 (2) Performance stock units 179,253 (1) 69,772 (3) Restricted stock units 264,431 (1) — Shares of Class B common stock 3,117,002 (4) 7,453,515 (4) (1) Represents number of instruments outstanding at the end of the period that were excluded from the computation of diluted earnings per share of Class A common stock because the effect would have been anti-dilutive. (2) Number of securities excluded from the computation of diluted earnings per share of Class A common stock because the exercise price of the stock options exceeded the average market price of our Class A common stock during the period ("out-of-the-money"). (3) 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. (4) 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	3 Months Ended
	Mar. 25, 2020
Supplemental Cash Flow Elements [Abstract]
SUPPLEMENTAL CASH FLOW INFORMATION	SUPPLEMENTAL CASH FLOW INFORMATION The following table sets forth supplemental cash flow information for the thirteen weeks ended March 25, 2020 and March 27, 2019 : Thirteen Weeks Ended March 25 March 27 Cash paid for: Income taxes, net of refunds $ 801 $ 617 Interest, net of amounts capitalized 61 72 Non-cash investing activities: Accrued purchases of property and equipment 13,715 15,763 Capitalized equity-based compensation 13 27 Class A common stock issued in connection with the redemption of LLC Interests — 1 Cancellation of Class B common stock in connection with the redemption of LLC Interests — (1 ) Establishment of liabilities under tax receivable agreement 310 1,636

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Mar. 25, 2020
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 March 25, 2020 , 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 March 25, 2020 , 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 March 25, 2020 , 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 thirteen weeks ended March 25, 2020 and March 27, 2019 , we recognized liabilities totaling $310 and $1,636 , 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 March 25, 2020 and December 25, 2019 , our total obligations under the Tax Receivable Agreement were $228,166 and $234,426 , respectively. There were no transactions subject to the Tax Receivable Agreement for

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	3 Months Ended
	Mar. 25, 2020
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 Classification March 25 March 27 Amounts received from HYC Licensing revenue $ 22 $ 66 Classification March 25 December 25 Amounts due from HYC Accounts Receivable $ 27 $ 47 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 Classification March 25 March 27 Amounts paid to MSP Conservancy Occupancy and related expenses $ 219 $ 278 Classification March 25 December 25 Amounts due to MSP Conservancy Accrued expenses $ — $ 53 Olo, Inc. The Chairman of our Board of Directors serves as a director of Olo, Inc. (formerly known as "Mobo Systems, Inc."), a platform we use in connection with our mobile ordering application. No amounts were due to Olo as of March 25, 2020 and December 25, 2019 , respectively. Thirteen Weeks Ended Classification March 25 March 27 Amounts paid to Olo Other operating expenses $ 52 $ 38 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. No amounts were due to Square as of March 25, 2020 and December 25, 2019 , respectively. Thirteen Weeks Ended Classification March 25 March 27 Amounts paid to Square Other operating expenses $ 571 $ 266 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 Classification March 25 March 27 Amounts paid to members (inclusive of interest) Other current liabilities $ 6,569 $ 707 Classification March 25 December 25 Amounts due under the Tax Receivable Agreement Other current liabilities Liabilities under tax receivable agreement, net of current portion $ 228,166 $ 234,426 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 March 25, 2020 and December 25, 2019 , respectively. Thirteen Weeks Ended Classification March 25 March 27 Amounts paid to non-controlling interest holders Net income attributable to non-controlling interests $ 305 $ 109

LEASES

LEASES	3 Months Ended
	Mar. 25, 2020
Leases [Abstract]
LEASES	LEASES 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 Accounting Standards Codification Topic 842 ("ASC 842"). Upon the possession of a leased asset, we determine its classification as an operating or finance lease. 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 is 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 Condensed Consolidated Statements of Income (Loss) . 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 Condensed Consolidated Statements of Income (Loss) . 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 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 March 25, 2020 and December 25, 2019 is as follows: Classification March 25 December 25 Finance leases Property and equipment, net $ 5,546 $ 5,444 Operating leases Operating lease assets 302,216 274,426 Total right-of-use assets $ 307,762 $ 279,870 Finance leases: Other current liabilities 1,876 1,873 Other long-term liabilities 3,772 3,643 Operating leases: Operating lease liabilities, current 43,197 30,002 Long-term operating lease liabilities 322,191 304,914 Total lease liabilities $ 371,036 $ 340,432 The components of lease expense for the thirteen weeks ended March 25, 2020 and March 27, 2019 was as follows: Thirteen Weeks Ended Classification March 25 March 27 Finance lease cost: Amortization of right-of-use assets Depreciation expense $ 577 $ 334 Interest on lease liabilities Interest expense 55 41 Operating lease cost Occupancy and related expenses General and administrative expenses Pre-opening costs 10,742 8,910 Short-term lease cost Occupancy and related expenses 124 17 Variable lease cost Occupancy and related expenses General and administrative expenses Pre-opening costs 3,730 3,462 Total lease cost $ 15,228 $ 12,764 As of March 25, 2020 , future minimum lease payments for finance and operating leases consisted of the following: Finance Leases Operating Leases 2020 $ 1,610 $ 30,448 2021 1,661 47,877 2022 1,180 52,029 2023 800 52,176 2024 489 50,893 Thereafter 337 257,135 Total minimum payments 6,077 490,557 Less: imputed interest 429 125,169 Total lease liabilities $ 5,648 $ 365,388 As of March 25, 2020 we had additional operating lease commitments of $55,222 for non-cancelable leases without a possession date, which will begin to commence in 2020 . These lease commitments are consistent with the leases that we have executed thus far and include a number of real estate 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 March 25, 2020 and December 25, 2019 is as follows: March 25 December 25 Weighted-average remaining lease term (years): Finance leases 5.2 5.1 Operating leases 10.1 10.1 Weighted-average discount rate: Finance leases 3.6 % 3.7 % Operating leases 4.2 % 5.4 % Supplemental cash flow information related to leases as of March 25, 2020 and March 27, 2019 is as follows: March 25 March 27 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from finance leases $ 55 $ 41 Operating cash flows from operating leases 11,329 8,324 Financing cash flows from finance leases 559 339 Right-of-use assets obtained in exchange for lease obligations: Finance leases 716 230 Operating leases 28,035 14,789
LEASES	LEASES 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 Accounting Standards Codification Topic 842 ("ASC 842"). Upon the possession of a leased asset, we determine its classification as an operating or finance lease. 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 is 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 Condensed Consolidated Statements of Income (Loss) . 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 Condensed Consolidated Statements of Income (Loss) . 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 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 March 25, 2020 and December 25, 2019 is as follows: Classification March 25 December 25 Finance leases Property and equipment, net $ 5,546 $ 5,444 Operating leases Operating lease assets 302,216 274,426 Total right-of-use assets $ 307,762 $ 279,870 Finance leases: Other current liabilities 1,876 1,873 Other long-term liabilities 3,772 3,643 Operating leases: Operating lease liabilities, current 43,197 30,002 Long-term operating lease liabilities 322,191 304,914 Total lease liabilities $ 371,036 $ 340,432 The components of lease expense for the thirteen weeks ended March 25, 2020 and March 27, 2019 was as follows: Thirteen Weeks Ended Classification March 25 March 27 Finance lease cost: Amortization of right-of-use assets Depreciation expense $ 577 $ 334 Interest on lease liabilities Interest expense 55 41 Operating lease cost Occupancy and related expenses General and administrative expenses Pre-opening costs 10,742 8,910 Short-term lease cost Occupancy and related expenses 124 17 Variable lease cost Occupancy and related expenses General and administrative expenses Pre-opening costs 3,730 3,462 Total lease cost $ 15,228 $ 12,764 As of March 25, 2020 , future minimum lease payments for finance and operating leases consisted of the following: Finance Leases Operating Leases 2020 $ 1,610 $ 30,448 2021 1,661 47,877 2022 1,180 52,029 2023 800 52,176 2024 489 50,893 Thereafter 337 257,135 Total minimum payments 6,077 490,557 Less: imputed interest 429 125,169 Total lease liabilities $ 5,648 $ 365,388 As of March 25, 2020 we had additional operating lease commitments of $55,222 for non-cancelable leases without a possession date, which will begin to commence in 2020 . These lease commitments are consistent with the leases that we have executed thus far and include a number of real estate 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 March 25, 2020 and December 25, 2019 is as follows: March 25 December 25 Weighted-average remaining lease term (years): Finance leases 5.2 5.1 Operating leases 10.1 10.1 Weighted-average discount rate: Finance leases 3.6 % 3.7 % Operating leases 4.2 % 5.4 % Supplemental cash flow information related to leases as of March 25, 2020 and March 27, 2019 is as follows: March 25 March 27 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from finance leases $ 55 $ 41 Operating cash flows from operating leases 11,329 8,324 Financing cash flows from finance leases 559 339 Right-of-use assets obtained in exchange for lease obligations: Finance leases 716 230 Operating leases 28,035 14,789

SUBSEQUENT EVENTS SUBSEQUENT EV

SUBSEQUENT EVENTS SUBSEQUENT EVENTS	3 Months Ended
	Mar. 25, 2020
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS COVID-19 Pandemic A novel strain of coronavirus (“COVID-19”) was first identified in Wuhan, China in December 2019 and subsequently declared a pandemic by the World Health Organization on March 11, 2020. In response to the pandemic, many states and localities in which we operate have issued stay-at-home orders and other social distancing measures. Effective March 16, 2020, we closed all dining rooms and temporarily shifted to a "to-go" only operating model in all of our domestic company-operated Shacks. As mandated shutdowns and stay-at-home orders went into effect across the country, we experienced an immediate and drastic reduction in sales levels compared to the prior year. As of April 29, 2020, 17 domestic company-operated Shacks were temporarily closed and the majority of Shacks were operating with reduced hours and in a limited capacity. As of April 29, 2020, 61 of our 120 licensed Shacks were temporarily closed, including all Shacks within Japan and domestic stadium venues. U.S. airport locations have also either fully closed or significantly slowed as air travel has diminished to a near standstill. As we start to plan for dining rooms to re-open domestically, albeit in a restricted and modified capacity, we will work closely with local authorities, Centers for Disease Control ("CDC") guidelines and our landlords during the process, and will clearly follow any and all social distancing and other safety restrictions and recommendations. In response to the uncertain market conditions created by the COVID-19 pandemic, we entered into the following transactions to enhance our liquidity position. On April 17, 2020, we announced an “at-the-market” equity offering program (the “ATM Program”), under which we may offer and sell shares of our Class A common stock having an aggregate price of up to $75,000 from time to time. On April 21, 2020, we completed the sale of 233,467 shares of our Class A common stock pursuant to the ATM Program and received $9,794 of proceeds, net of commissions. The proceeds were used to purchase newly-issued LLC Interests. On April 21, 2020, we completed an underwritten offering of 3,416,070 shares of our Class A common stock, resulting in $135,857 of proceeds, net of underwriting discounts and commissions. The proceeds were used to purchase newly-issued LLC Interests. In May 2020, we entered into a First Amendment to the Revolving Credit Facility, which, among other things, provides for modified financial covenant compliance requirements for a period of time. The First Amendment requires us to maintain minimum liquidity of $25,000 through July 1, 2021 and outstanding borrowings during the applicable period covered by the First Amendment bear interest at either: (i) LIBOR plus a percentage ranging from 1.0% to 2.5% or (ii) the base rate plus a percentage ranging from 0.0% to 1.5% , in each case depending on our net lease adjusted leverage ratio. Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) On March 27, 2020, Congress enacted the CARES Act to provide certain relief as a result of the COVID-19 pandemic. The CARES Act provides numerous tax provisions and other stimulus measures, including temporary changes regarding the prior and future utilization of net operating losses, temporary changes to the prior and future limitations on interest deductions, temporary suspension of certain payment requirements for the employer portion of Social Security taxes, technical corrections from prior tax legislation for tax depreciation of certain qualified improvement property, and the creation of certain refundable employee retention credits. We are currently evaluating the impact on our financial statements and have not yet quantified what material impacts to the financial statements, if any, that may result from the CARES Act. On April 10, 2020, we entered into a $10,000 note payable with J.P. Morgan pursuant to the Paycheck Protection Program (“PPP Loan”) under the CARES Act. On April 27, 2020, we returned the entire outstanding balance of $10,005 , inclusive of interest.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 25, 2020
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 25, 2019 ("2019 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 25, 2019 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 2019 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 March 25, 2020 and December 25, 2019 , the net assets of SSE Holdings were $271,087 and $270,542 , 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 2020 contains 53 weeks and ends on December 30, 2020 . Fiscal 2019 contained 52 weeks and ended on December 25, 2019 . 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 2020 . Accounting Standards Update (“ASU”) Description Date Adopted Measurement of Credit Losses on Financial Instruments (ASU 2016-13) This standard replaces the incurred loss impairment methodology in current GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. The adoption of this standard did not have a material impact to our consolidated financial statements. December 26, 2019

REVENUE (Tables)

REVENUE (Tables)	3 Months Ended
	Mar. 25, 2020
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue	Revenue recognized during the thirteen weeks ended March 25, 2020 and March 27, 2019 , disaggregated by type is as follows: Thirteen Weeks Ended March 25 March 27 Shack sales $ 138,048 $ 128,569 Licensing revenue: Sales-based royalties 4,944 3,904 Initial territory and opening fees 178 136 Total revenue $ 143,170 $ 132,609
Schedule of Contract with Customer, Asset and Liability	Opening and closing balances of contract liabilities and receivables from contracts with customers is as follows: March 25 December 26 Shack sales receivables $ 1,799 $ 4,265 Licensing receivables 4,079 4,510 Gift card liability 2,134 2,258 Deferred revenue, current 545 511 Deferred revenue, long-term 11,299 11,310 Revenue recognized during the thirteen weeks ended March 25, 2020 and March 27, 2019 that was included in their respective liability balances at the beginning of the period is as follows: Thirteen Weeks Ended March 25 March 27 Gift card liability $ 300 $ 278 Deferred revenue 175 134

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	3 Months Ended
	Mar. 25, 2020
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 March 25, 2020 and December 25, 2019 : March 25, 2020 Cost Basis Gross Unrealized Gains Gross Unrealized Losses Fair Value Cash and Cash Equivalents Marketable Securities Cash $ 87,806 $ — $ — $ 87,806 $ 87,806 $ — Level 1: Money market funds — — — — — — Mutual funds 16,707 — (284 ) 16,423 — 16,423 Total $ 104,513 $ — $ (284 ) $ 104,229 $ 87,806 $ 16,423 December 25, 2019 Cost Basis Gross Unrealized Gains Gross Unrealized Losses Fair Value Cash and Cash Equivalents Marketable Securities Cash $ 32,094 $ — $ — $ 32,094 $ 32,094 $ — Level 1: Money market funds 5,005 — — 5,005 5,005 — Mutual funds 36,436 72 — 36,508 — 36,508 Total $ 73,535 $ 72 $ — $ 73,607 $ 37,099 $ 36,508
Schedule of Other Income From Available for Sale Securities	A summary of other income from equity securities recognized during the thirteen weeks ended March 25, 2020 and March 27, 2019 is as follows: Thirteen Weeks Ended March 25 March 27 Equity securities: Dividend income $ 184 $ 392 Interest income — — Realized gain (loss) on sale of investments 79 (14 ) Unrealized gain (loss) on equity securities (356 ) 157 Total $ (93 ) $ 535
Schedule of Available-for-sale Securities and Gross Realized Gains and Losses	A summary of equity securities sold and gross realized gains and losses recognized during the thirteen weeks ended March 25, 2020 and March 27, 2019 is as follows: Thirteen Weeks Ended March 25 March 27 Equity securities: Gross proceeds from sales and redemptions $ 20,000 $ 15,000 Cost basis of sales and redemptions 19,921 15,014 Gross realized gains included in net income (loss) 79 — Gross realized losses included in net income (loss) — (14 )

INVENTORIES (Tables)

INVENTORIES (Tables)	3 Months Ended
	Mar. 25, 2020
Inventory Disclosure [Abstract]
Inventories	Inventories are stated at the lower of cost or net realizable value with cost determined on a first-in, first-out basis. As of March 25, 2020 , we recorded $130 in inventory reserve for inventories that were deemed to be obsolete or slow moving. As of December 25, 2019 , no adjustment was deemed necessary to reduce inventory to net realizable value due to the rapid turnover and high utilization of inventory. Inventories as of March 25, 2020 and December 25, 2019 consisted of the following: March 25 December 25 Food $ 1,323 $ 1,738 Wine 97 107 Beer 119 114 Beverages 247 233 Retail merchandise 23 29 Paper goods 366 — Inventories before inventory reserve 2,175 2,221 Less: inventory reserve 130 — Inventories, net $ 2,045 $ 2,221

PROPERTY AND EQUIPMENT (Tables)

PROPERTY AND EQUIPMENT (Tables)	3 Months Ended
	Mar. 25, 2020
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Property and equipment as of March 25, 2020 and December 25, 2019 consisted of the following: March 25 December 25 Leasehold improvements $ 312,524 $ 302,204 Equipment 56,482 54,404 Furniture and fixtures 18,497 18,082 Computer equipment and software 25,091 24,226 Financing equipment lease assets 8,079 7,442 Construction in progress 39,469 30,290 Property and equipment, gross 460,142 436,648 Less: accumulated depreciation 131,103 121,786 Property and equipment, net $ 329,039 $ 314,862

SUPPLEMENTAL BALANCE SHEET IN_2

SUPPLEMENTAL BALANCE SHEET INFORMATION (Tables)	3 Months Ended
	Mar. 25, 2020
Supplemental Balance Sheet Disclosures [Abstract]
Supplemental Balance Sheet Information	The components of other current liabilities as of March 25, 2020 and December 25, 2019 are as follows: March 25 December 25 Sales tax payable $ 3,814 $ 4,086 Current portion of liabilities under tax receivable agreement 1,207 7,777 Gift card liability 2,134 2,258 Current portion of financing equipment lease liabilities 1,876 1,873 Other 4,704 3,505 Other current liabilities $ 13,735 $ 19,499

NON-CONTROLLING INTERESTS (Tabl

NON-CONTROLLING INTERESTS (Tables)	3 Months Ended
	Mar. 25, 2020
Noncontrolling Interest [Abstract]
Schedule of Ownership Interests in SSE Holdings	The following table summarizes the ownership interest in SSE Holdings as of March 25, 2020 and December 25, 2019 . March 25, 2020 December 25, 2019 LLC Interests Ownership% LLC Interests Ownership % Number of LLC Interests held by Shake Shack Inc. 34,523,400 91.7 % 34,417,302 91.6 % Number of LLC Interests held by non-controlling interest holders 3,117,002 8.3 % 3,145,197 8.4 % Total LLC Interests outstanding 37,640,402 100.0 % 37,562,499 100.0 %
Schedule of Non-Controlling Interest	The following table summarizes the effects of changes in ownership of SSE Holdings on our equity during the thirteen weeks ended March 25, 2020 and March 27, 2019 . Thirteen Weeks Ended March 25 March 27 Net income (loss) attributable to Shake Shack Inc. $ (960 ) $ 2,546 Transfers (to) from non-controlling interests: Increase in additional paid-in capital as a result of the redemption of LLC Interests 195 594 Increase in additional paid-in capital as a result of activity under stock compensation plans and the related income tax effect 424 975 Total effect of changes in ownership interest on equity attributable to Shake Shack Inc. $ (341 ) $ 4,115
Redemption of LLC Interests	The following table summarizes redemptions of LLC Interests activity during the thirteen weeks ended March 25, 2020 and March 27, 2019 . Thirteen Weeks Ended March 25 March 27 Redemption and acquisition of LLC Interests Number of LLC Interests redeemed by non-controlling interest holders 28,195 103,832 Number of LLC Interests received by Shake Shack Inc. 28,195 103,832 Issuance of Class A common stock Shares of Class A common stock issued in connection with redemptions of LLC Interests 28,195 103,832 Cancellation of Class B common stock Shares of Class B common stock surrendered and canceled 28,195 103,832

EQUITY-BASED COMPENSATION (Tabl

EQUITY-BASED COMPENSATION (Tables)	3 Months Ended
	Mar. 25, 2020
Share-based Payment Arrangement [Abstract]
Schedule of Equity-Based Compensation Expense Recognized	A summary of equity-based compensation expense recognized during the thirteen weeks ended March 25, 2020 and March 27, 2019 is as follows: Thirteen Weeks Ended March 25 March 27 Stock options $ 261 $ 682 Performance stock units 413 712 Restricted stock units 626 298 Equity-based compensation expense $ 1,300 $ 1,692 Total income tax benefit recognized related to equity-based compensation $ 36 $ 42

INCOME TAXES (Tables)

INCOME TAXES (Tables)	3 Months Ended
	Mar. 25, 2020
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 March 25 March 27 Expected U.S. federal income taxes at statutory rate $ (208 ) 21.0 % $ 1,188 21.0 % State and local income taxes, net of federal benefit (125 ) 12.6 % 418 7.4 % Foreign withholding taxes 534 (53.8 )% 342 6.0 % Tax credits and adjustments to forecasted rate (34 ) 3.4 % (376 ) (6.6 )% Return to provision adjustment — — % — — % Non-controlling interest (80 ) 8.0 % (323 ) (5.7 )% Tax effect of change in basis related to the adoption of ASC 842 — — % 1,161 20.5 % Change in valuation allowance — — % (365 ) (6.5 )% Other — — % 2 0.1 % Income tax expense $ 87 (8.8 )% $ 2,047 36.2 %

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	3 Months Ended
	Mar. 25, 2020
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 (loss) per share of Class A common stock for the thirteen weeks ended March 25, 2020 and March 27, 2019 . Thirteen Weeks Ended March 25 March 27 Numerator: Net income (loss) $ (1,079 ) $ 3,607 Less: net income (loss) attributable to non-controlling interests (119 ) 1,061 Net income (loss) attributable to Shake Shack Inc. $ (960 ) $ 2,546 Denominator: Weighted-average shares of Class A common stock outstanding—basic 34,444 29,563 Effect of dilutive securities: Stock options — 731 Performance stock units — 76 Restricted stock units — 22 Weighted-average shares of Class A common stock outstanding—diluted 34,444 30,392 Earnings (loss) per share of Class A common stock—basic $ (0.03 ) $ 0.09 Earnings (loss) per share of Class A common stock—diluted $ (0.03 ) $ 0.08

SUPPLEMENTAL CASH FLOW INFORM_2

SUPPLEMENTAL CASH FLOW INFORMATION (Tables)	3 Months Ended
	Mar. 25, 2020
Supplemental Cash Flow Elements [Abstract]
Schedule of Cash Flow Information	The following table sets forth supplemental cash flow information for the thirteen weeks ended March 25, 2020 and March 27, 2019 : Thirteen Weeks Ended March 25 March 27 Cash paid for: Income taxes, net of refunds $ 801 $ 617 Interest, net of amounts capitalized 61 72 Non-cash investing activities: Accrued purchases of property and equipment 13,715 15,763 Capitalized equity-based compensation 13 27 Class A common stock issued in connection with the redemption of LLC Interests — 1 Cancellation of Class B common stock in connection with the redemption of LLC Interests — (1 ) Establishment of liabilities under tax receivable agreement 310 1,636

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 25, 2020
Leases [Abstract]
Lease, Cost	A summary of lease terms and discount rates for finance and operating leases as of March 25, 2020 and December 25, 2019 is as follows: March 25 December 25 Weighted-average remaining lease term (years): Finance leases 5.2 5.1 Operating leases 10.1 10.1 Weighted-average discount rate: Finance leases 3.6 % 3.7 % Operating leases 4.2 % 5.4 % Supplemental cash flow information related to leases as of March 25, 2020 and March 27, 2019 is as follows: March 25 March 27 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from finance leases $ 55 $ 41 Operating cash flows from operating leases 11,329 8,324 Financing cash flows from finance leases 559 339 Right-of-use assets obtained in exchange for lease obligations: Finance leases 716 230 Operating leases 28,035 14,789 A summary of finance and operating lease right-of-use assets and liabilities as of March 25, 2020 and December 25, 2019 is as follows: Classification March 25 December 25 Finance leases Property and equipment, net $ 5,546 $ 5,444 Operating leases Operating lease assets 302,216 274,426 Total right-of-use assets $ 307,762 $ 279,870 Finance leases: Other current liabilities 1,876 1,873 Other long-term liabilities 3,772 3,643 Operating leases: Operating lease liabilities, current 43,197 30,002 Long-term operating lease liabilities 322,191 304,914 Total lease liabilities $ 371,036 $ 340,432 The components of lease expense for the thirteen weeks ended March 25, 2020 and March 27, 2019 was as follows: Thirteen Weeks Ended Classification March 25 March 27 Finance lease cost: Amortization of right-of-use assets Depreciation expense $ 577 $ 334 Interest on lease liabilities Interest expense 55 41 Operating lease cost Occupancy and related expenses General and administrative expenses Pre-opening costs 10,742 8,910 Short-term lease cost Occupancy and related expenses 124 17 Variable lease cost Occupancy and related expenses General and administrative expenses Pre-opening costs 3,730 3,462 Total lease cost $ 15,228 $ 12,764
Lessee, Operating Lease, Liability, Maturity	As of March 25, 2020 , future minimum lease payments for finance and operating leases consisted of the following: Finance Leases Operating Leases 2020 $ 1,610 $ 30,448 2021 1,661 47,877 2022 1,180 52,029 2023 800 52,176 2024 489 50,893 Thereafter 337 257,135 Total minimum payments 6,077 490,557 Less: imputed interest 429 125,169 Total lease liabilities $ 5,648 $ 365,388
Finance Lease, Liability, Maturity	As of March 25, 2020 , future minimum lease payments for finance and operating leases consisted of the following: Finance Leases Operating Leases 2020 $ 1,610 $ 30,448 2021 1,661 47,877 2022 1,180 52,029 2023 800 52,176 2024 489 50,893 Thereafter 337 257,135 Total minimum payments 6,077 490,557 Less: imputed interest 429 125,169 Total lease liabilities $ 5,648 $ 365,388

Leases Schedule of Accounting P

Leases Schedule of Accounting Pronouncements (Details) - USD ($) $ in Thousands	Mar. 25, 2020	Dec. 25, 2019	Mar. 27, 2019
Leases [Abstract]
Prepaid Expense and Other Assets, Current	$ 2,316	$ 1,877
Property and equipment, net	(329,039)	(314,862)
Operating lease assets	302,216	274,426	$ 274,426
Long-term operating lease liabilities	322,191	304,914	$ 304,914
Other long-term liabilities	15,424	15,328
Retained earnings	53,407	54,367
Non-controlling interests	$ 22,188	$ 23,168

NATURE OF OPERATIONS (Details)

NATURE OF OPERATIONS (Details)	Mar. 25, 2020RestaurantShack
Class of Stock [Line Items]
Number of restaurants	287
United States | Company-operated
Class of Stock [Line Items]
Number of restaurants	167
Number of Shacks closed | Shack	12
United States | Licensed
Class of Stock [Line Items]
Number of restaurants	22
Number of Shacks closed | Shack	37
Non-United States | Licensed
Class of Stock [Line Items]
Number of restaurants	98

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($) $ in Thousands	Mar. 25, 2020	Dec. 25, 2019
Variable Interest Entity [Line Items]
Net assets held by SSE holders	$ 1,040,008	$ 968,268
Variable Interest Entity, Primary Beneficiary
Variable Interest Entity [Line Items]
Net assets held by SSE holders	$ 271,087	$ 270,542

REVENUE - Narrative (Details)

REVENUE - Narrative (Details) - USD ($) $ in Thousands	Mar. 25, 2020	Dec. 25, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Other long-term liabilities	$ 15,424	$ 15,328
Other current liabilities	13,735	$ 19,499
Revenue, remaining performance obligation	$ 15,929

REVENUE - Schedule of Revenue R

REVENUE - Schedule of Revenue Recognized (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 25, 2020	Mar. 27, 2019
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	$ 143,170	$ 132,609

REVENUE - Schedule of Disaggreg

REVENUE - Schedule of Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 25, 2020	Mar. 27, 2019
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	$ 143,170	$ 132,609
Shack Sales [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	138,048	128,569
Sales-Based Royalties [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	4,944	3,904
Initial territory and opening fees
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	$ 178	$ 136

REVENUE - Schedule of Respectiv

REVENUE - Schedule of Respective Liability Balances (Details) - USD ($) $ in Thousands	Mar. 25, 2020	Dec. 25, 2019
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Gift card liability	$ 2,134	$ 2,258
Deferred revenue, current	545	511
Deferred revenue, long-term	11,299	11,310
Shack Sales [Member]
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Contract with customer, asset, net	1,799	4,265
Licensing receivables
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Contract with customer, asset, net	$ 4,079	$ 4,510

REVENUE - Liability Balance (De

REVENUE - Liability Balance (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 25, 2020	Mar. 27, 2019
Revenue from Contract with Customer [Abstract]
Gift card liability	$ 300	$ 278
Deferred revenue	$ 175	$ 134

FAIR VALUE MEASUREMENTS - Cash,

FAIR VALUE MEASUREMENTS - Cash, Cash Equivalents and Marketable Securities (Details) - USD ($) $ in Thousands	Mar. 25, 2020	Dec. 25, 2019
Debt Securities, Available-for-sale [Line Items]
Cost Basis	$ 87,806	$ 37,099
Total cost basis including Mutual Funds	104,513	73,535
Gross Unrealized Gains	0	72
Gross Unrealized Losses	(284)	0
Cash and cash equivalents fair value	87,806	37,099
Fair value of marketable securities	16,423	36,508
Fair Value	104,229	73,607
Level 1 | Mutual funds
Debt Securities, Available-for-sale [Line Items]
Mutual funds	16,707	36,436
Gross Unrealized Gains	0	72
Gross Unrealized Losses	(284)	0
Fair value of marketable securities	16,423	36,508
Cash
Debt Securities, Available-for-sale [Line Items]
Cost Basis	87,806	32,094
Cash and cash equivalents fair value	87,806	32,094
Money market funds | Level 1
Debt Securities, Available-for-sale [Line Items]
Cost Basis	0	5,005
Cash and cash equivalents fair value	$ 0	$ 5,005

FAIR VALUE MEASUREMENTS - Addit

FAIR VALUE MEASUREMENTS - Additional Information (Details) - USD ($)	3 Months Ended
	Mar. 25, 2020	Mar. 27, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unrealized Gain (Loss) on Securities	$ (356,000)	$ 157,000
Asset impairment charges	1,132,000	$ 0
Property, Plant and Equipment
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset impairment charges	736,000
Operating Lease, Right-of-Use Assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset impairment charges	383,000
Finance Lease, Right-of-Use Assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset impairment charges	$ 13,000

FAIR VALUE MEASUREMENTS - Other

FAIR VALUE MEASUREMENTS - Other Income From Available For Sale Securities (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 25, 2020	Mar. 27, 2019
Available-for-sale securities
Unrealized Gain (Loss) on Securities	$ (356)	$ 157
Total	(93)	564
Available-for-sale Securities
Available-for-sale securities
Dividend income	184	392
Interest income	0	0
Realized gain (loss) on sale of investments	79	(14)
Unrealized Gain (Loss) on Securities	(356)	157
Total	$ (93)	$ 535

FAIR VALUE MEASUREMENTS - Avail

FAIR VALUE MEASUREMENTS - Available for Sale Securities and Gross Realized Gains and Losses (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 25, 2020	Mar. 27, 2019
Equity securities:
Gross proceeds from sales and redemptions	$ 20,000	$ 15,000
Cost basis of sales and redemptions	19,921	15,014
Gross realized gains included in net income (loss)	79	0
Gross realized losses included in net income (loss)	$ 0	$ (14)

INVENTORIES (Details)

INVENTORIES (Details) - USD ($) $ in Thousands	Mar. 25, 2020	Dec. 25, 2019
Inventory [Line Items]
Inventories before inventory reserve	$ 2,175	$ 2,221
Less: inventory reserve	130	0
Inventories, net	2,045	2,221
Food
Inventory [Line Items]
Inventories before inventory reserve	1,323	1,738
Wine
Inventory [Line Items]
Inventories before inventory reserve	97	107
Beer
Inventory [Line Items]
Inventories before inventory reserve	119	114
Beverages
Inventory [Line Items]
Inventories before inventory reserve	247	233
Retail merchandise
Inventory [Line Items]
Inventories before inventory reserve	23	29
Paper goods
Inventory [Line Items]
Inventories before inventory reserve	$ 366	$ 0

PROPERTY AND EQUIPMENT (Details

PROPERTY AND EQUIPMENT (Details) - USD ($) $ in Thousands	Mar. 25, 2020	Dec. 25, 2019
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 460,142	$ 436,648
Less: accumulated depreciation	131,103	121,786
Property and equipment, net	329,039	314,862
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	312,524	302,204
Equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	56,482	54,404
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property and equipment, gross	18,497	18,082
Computer equipment and software
Property, Plant and Equipment [Line Items]
Property and equipment, gross	25,091	24,226
Financing equipment lease assets [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	8,079	7,442
Construction in progress
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 39,469	$ 30,290

SUPPLEMENTAL BALANCE SHEET IN_3

SUPPLEMENTAL BALANCE SHEET INFORMATION (Details) - USD ($) $ in Thousands	Mar. 25, 2020	Dec. 25, 2019
Supplemental Balance Sheet Disclosures [Abstract]
Finance Lease, Liability, Current	$ 1,876	$ 1,873
Other Liabilities, Current
Sales tax payable	3,814	4,086
Current portion of liabilities under tax receivable agreement	1,207	7,777
Gift card liability	2,134	2,258
Other	4,704	3,505
Other current liabilities	$ 13,735	$ 19,499

SUPPLEMENTAL BALANCE SHEET IN_4

SUPPLEMENTAL BALANCE SHEET INFORMATION Other long-term liabilities (Details) - USD ($) $ in Thousands	Mar. 25, 2020	Dec. 25, 2019
Other Liabilities Disclosure [Abstract]
Contract with Customer, Liability, Noncurrent	$ 11,299	$ 11,310
Finance Lease, Liability, Noncurrent	3,772	3,643
Other Sundry Liabilities, Noncurrent	353	375
Other Liabilities, Noncurrent	$ 15,424	$ 15,328

DEBT (Details)

DEBT (Details) - USD ($)	Feb. 04, 2015	May 31, 2020	Mar. 31, 2020	Mar. 25, 2020	Mar. 27, 2019	Dec. 25, 2019
Debt Instrument [Line Items]
Proceeds from revolving credit facility				$ 50,000,000	$ 0
Notes payable				50,000,000		$ 0
Interest costs incurred				112,000	72,000
Interest costs capitalized					$ 0
Notes payable
Debt Instrument [Line Items]
Notes payable				50,000,000
Revolving Credit Facility | Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity				50,000,000
Line of Credit Facility, Incremental Borrowing Capacity				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
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%
Subsequent Event | Notes payable
Debt Instrument [Line Items]
Proceeds from revolving credit facility			$ 50,000,000
Subsequent Event | First Amendment to the Credit Agreement | Line of credit
Debt Instrument [Line Items]
Debt instrument, minimum required liquidity		$ 25,000,000
Subsequent Event | First Amendment to the Credit Agreement | Minimum | Line of credit | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate		1.00%
Subsequent Event | First Amendment to the Credit Agreement | Minimum | Line of credit | Prime rate
Debt Instrument [Line Items]
Basis spread on variable rate		0.00%
Subsequent Event | First Amendment to the Credit Agreement | Maximum | Line of credit | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate		2.50%
Subsequent Event | First Amendment to the Credit Agreement | Maximum | Line of credit | Prime rate
Debt Instrument [Line Items]
Basis spread on variable rate		1.50%

NON-CONTROLLING INTERESTS - Own

NON-CONTROLLING INTERESTS - Ownership Interest in SSE Holdings (Details) - shares	Mar. 25, 2020	Dec. 25, 2019
Noncontrolling Interest [Line Items]
Number of LLC Interests held by Shake Shack Inc. (in shares)	34,523,400	34,417,302
Number of LLC Interests held by non-controlling interest holders (in shares)	3,117,002	3,145,197
Total LLC Interests outstanding (in shares)	37,640,402	37,562,499
Total LLC Interests outstanding (as a percentage)	100.00%	100.00%
Shake Shack Inc.
Noncontrolling Interest [Line Items]
Number of LLC Interests held by Shake Shack Inc. (as a percentage)	91.70%	91.60%
Non-Controlling Interest Holders
Noncontrolling Interest [Line Items]
Number of LLC Interests held by non-controlling interest holders (as a percentage)	8.30%	8.40%

NON-CONTROLLING INTERESTS - Nar

NON-CONTROLLING INTERESTS - Narrative (Details) - shares	3 Months Ended
	Mar. 25, 2020	Mar. 27, 2019
Noncontrolling Interest [Line Items]
Non-controlling interest holders' weighted average ownership percentage	8.40%	20.30%
Employee Stock Option
Noncontrolling Interest [Line Items]
Units acquired during the period (in shares)	77,903	73,563

NON-CONTROLLING INTERESTS - Ch

NON-CONTROLLING INTERESTS - Changes in Ownership Interests in SSE Holdings (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 25, 2020	Mar. 27, 2019
Noncontrolling Interest [Line Items]
Net income (loss) attributable to Shake Shack Inc.	$ (960)	$ 2,546
Other comprehensive income:
Net change related to available-for-sale securities	1	0
Transfers (to) from non-controlling interests:
Total effect of changes in ownership interest on equity attributable to Shake Shack Inc.	(341)	4,115
Redemption or Exchange of Units
Transfers (to) from non-controlling interests:
Increase (decrease) in additional paid-in capital	195	594
Employee Stock Option
Transfers (to) from non-controlling interests:
Increase (decrease) in additional paid-in capital	$ 424	$ 975

NON-CONTROLLING INTERESTS NON-C

NON-CONTROLLING INTERESTS NON-CONTROLLING INTERESTS - Redemption of LLC Interests (Details) - shares	3 Months Ended
	Mar. 25, 2020	Mar. 27, 2019
Limited Liability Company
Class of Stock [Line Items]
Number of units redeemed (in shares)	28,195	103,832
Redemptions by NCI Holders | Limited Liability Company
Class of Stock [Line Items]
Number of units redeemed (in shares)	28,195	103,832
Common Stock [Member] | Class A Common Stock
Class of Stock [Line Items]
Shares of Class A common stock issued in connection with redemptions of LLC Interests	28,195	103,832
Common Stock [Member] | Class B Common Stock
Class of Stock [Line Items]
Shares of Class A common stock issued in connection with redemptions of LLC Interests	28,195	103,832
Shares of Class B common stock surrendered and canceled	28,195	103,832

EQUITY-BASED COMPENSATION - Sch

EQUITY-BASED COMPENSATION - Schedule of compensation expense recognized (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 25, 2020	Mar. 27, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation expense	$ 1,300	$ 1,692
Total income tax benefit recognized related to equity-based compensation	36	42
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation expense	261	682
Performance stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation expense	413	712
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation expense	626	298
General and Administrative Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation expense	1,214	1,642
Labor And Related Expenses [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation expense	$ 86	$ 50

INCOME TAXES - Reconciliation o

INCOME TAXES - Reconciliation of Income Tax Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 25, 2020	Mar. 27, 2019
Income Tax Disclosure [Abstract]
Expected U.S. federal income taxes at statutory rate	$ (208)	$ 1,188
Expected U.S. federal income taxes at statutory rate, percentage	21.00%	21.00%
State and local income taxes, net of federal benefit	$ (125)	$ 418
State and local income taxes, net of federal benefit, percentage	12.60%	7.40%
Foreign withholding taxes	$ 534	$ 342
Foreign withholding taxes, percentage	(53.80%)	6.00%
Tax credits and adjustments to forecasted rate	$ (34)	$ (376)
Tax credits, percentage	3.40%	(6.60%)
Effective Income Tax Rate Reconciliation, Return To Provision Adjustment, Amount	$ 0	$ 0
Effective Income Tax Rate Reconciliation, Return To Provision Adjustment, Percent	0.00%	0.00%
Non-controlling interest	$ (80)	$ (323)
Non-controlling interest, percentage	8.00%	(5.70%)
Tax effect of change in basis related to ASC 842 adoption	$ 0	$ 1,161
Tax effect of change in basis related to ASC 842 adoption, percent	0.00%	20.50%
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Amount	$ 0	$ (365)
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Percent	0.00%	(6.50%)
Other	$ 0	$ 2
Other, percentage	0.00%	0.10%
Income tax expense	$ 87	$ 2,047
Income tax expense, percentage	(8.80%)	36.20%

INCOME TAXES - Narrative (Detai

INCOME TAXES - Narrative (Details) - USD ($)	3 Months Ended
	Mar. 25, 2020	Mar. 27, 2019	Dec. 25, 2019
Income Tax Contingency [Line Items]
Effective income tax rate reconciliation (in percentage)	(8.80%)	36.20%
Ownership percentage, weighted average	91.60%	79.70%
Deferred tax asset recognized as a result of investment in partnership	$ 851,000
Deferred tax asset related to additional tax basis	87,000
Uncertain tax positions	$ 0
Percentage of tax benefits due to equity owners	85.00%
Percentage of tax benefits expected to be realized	15.00%
Consolidated Entity, Ownership By Parent, LLC Units Acquired	28,195
Establishment of liabilities under tax receivable agreement	$ 310,000	$ 1,636,000
Tax receivable agreement payments to related parties	6,569,000	$ 707,000
Liabilities under tax receivable agreement	228,166,000		$ 234,426,000
Current portion of liabilities under tax receivable agreement	1,207,000		$ 7,777,000
Current Liabilities
Income Tax Contingency [Line Items]
Current portion of liabilities under tax receivable agreement	$ 1,207,000
Limited Liability Company
Income Tax Contingency [Line Items]
Units acquired during the period (in shares)	106,098
Deferred tax asset, investment in partnership	$ 178,207,000

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
	Mar. 25, 2020	Mar. 27, 2019
Numerator:
Net income (loss)	$ (1,079)	$ 3,607
Less: net income (loss) attributable to non-controlling interests	(119)	1,061
NET INCOME (LOSS) ATTRIBUTABLE TO SHAKE SHACK INC.	$ (960)	$ 2,546
Denominator:
Weighted-average shares of Class A common stock outstanding—basic (in shares)	34,444	29,563
Effect of dilutive securities:
Weighted-average shares of Class A common stock outstanding—diluted (in shares)	34,444	30,392
Earnings per share of Class A common stock—basic (in dollars per share)	$ (0.03)	$ 0.09
Earnings per share of Class A common stock—diluted (in dollars per share)	$ (0.03)	$ 0.08
Performance stock units
Effect of dilutive securities:
Stock options (in shares)	0	76
Restricted stock units
Effect of dilutive securities:
Stock options (in shares)	0	22
Stock options
Effect of dilutive securities:
Stock options (in shares)	0	731

EARNINGS PER SHARE - Antidilut

EARNINGS PER SHARE - Antidilutive Securities (Details) - Common Stock [Member] - shares	3 Months Ended
	Mar. 25, 2020	Mar. 27, 2019
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive shares (in shares)	847,207	3,785
Performance stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive shares (in shares)	179,253	69,772
Restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive shares (in shares)	264,431	0
Shares of Class B common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive shares (in shares)	3,117,002	7,453,515

SUPPLEMENTAL CASH FLOW INFORM_3

SUPPLEMENTAL CASH FLOW INFORMATION (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 25, 2020	Mar. 27, 2019
Cash paid for:
Income taxes, net of refunds	$ 801	$ 617
Interest, net of amounts capitalized	61	72
Non-cash investing activities:
Accrued purchases of property and equipment	13,715	15,763
Capitalized equity-based compensation	13	27
Non-cash financing activities:
Establishment of liabilities under tax receivable agreement	310	1,636
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	0	1
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	$ 0	$ (1)

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 25, 2020	Mar. 27, 2019	Dec. 25, 2019	Sep. 30, 2017
Loss Contingencies [Line Items]
Litigation Settlement, Expense		$ 1,200
Loss Contingency Accrual	$ 1,200
Percentage of tax benefits due to equity owners	85.00%
Establishment of liabilities under tax receivable agreement	$ 310	$ 1,636
Tax receivable agreement liability	228,166		$ 234,426
Retail site
Loss Contingencies [Line Items]
Letters of credit outstanding	$ 130
Office building
Loss Contingencies [Line Items]
Letters of credit outstanding				$ 603
Renewal term		1 year

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details)	3 Months Ended
	Mar. 25, 2020USD ($)	Mar. 27, 2019USD ($)renewal_option	Dec. 25, 2019USD ($)
Related Party Transaction [Line Items]
Percentage of tax benefits due to equity owners	85.00%
Tax receivable agreement payments to related parties	$ 6,569,000	$ 707,000
Distributions paid to non-controlling interest holders	305,000	$ 109,000
Tax distributions payable to non-controlling interest holders	0		$ 0
Subsidiary to Affiliated Entity
Related Party Transaction [Line Items]
Number of renewal terms | renewal_option		5
Renewal option period		5 years
Mobo Systems, Inc. [Member] | Board of Directors Chairman
Related Party Transaction [Line Items]
Amounts due to related parties, current	0		0
Expenses from transactions with related party	52,000	$ 38,000
Concession Income | Subsidiary to Affiliated Entity
Related Party Transaction [Line Items]
Due from related parties, current	27,000		47,000
Revenue from related parties	22,000	66,000
Rent Expense | Madison Square Park Conservancy
Related Party Transaction [Line Items]
Amounts due to related parties, current	0		53,000
Expenses from transactions with related party	219,000	278,000
Mobo Systems, Inc. | Board of Directors Chairman
Related Party Transaction [Line Items]
Amounts due to related parties, current	0		$ 0
Expenses from transactions with related party	$ 571,000	$ 266,000

Lease Narrative (Details)

Lease Narrative (Details) - option	3 Months Ended
	Mar. 27, 2019	Mar. 25, 2020
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
	Mar. 25, 2020	Mar. 27, 2019	Dec. 25, 2019
Leases [Abstract]
Finance leases	$ 5,546	$ 5,444
Operating leases	302,216	274,426	$ 274,426
Total right-of-use assets	307,762	279,870
Other current liabilities, finance leases	1,876	1,873
Other long-term liabilities, finance leases	3,772	3,643
Operating lease liabilities, current	43,197	30,002	30,002
Long-term operating lease liabilities	322,191	304,914	$ 304,914
Finance leases	5,648
Operating leases	365,388
Total lease liabilities	371,036	340,432
Finance lease cost:
Amortization of right-of-use assets	577	334
Interest on lease liabilities	55	41
Operating lease cost	10,742	8,910
Short-term lease cost	124	17
Variable lease cost	3,730	3,462
Total lease cost	$ 15,228	12,764
Weighted Average Lease Term [Abstract]
Finance leases	5 years 2 months 12 days		5 years 1 month 6 days
Operating leases	10 years 1 month 6 days		10 years 1 month 6 days
Weighted Average Discount Rate [Abstract]
Finance leases	3.60%		3.70%
Operating leases	4.20%		5.40%
Operating cash flows from finance leases	$ 55	41
Operating cash flows from operating leases	11,329	8,324
Financing cash flows from finance leases	559	339
Right-of-use assets obtained in exchange for new finance lease liabilities	716	230
Right-of-use assets obtained in exchange for new operating lease liabilities	$ 28,035	$ 14,789

Lease Maturity (Details)

Lease Maturity (Details) $ in Thousands	Mar. 25, 2020USD ($)
Leases [Abstract]
Operating lease for non-cancellable leases	$ 55,222
Finance Lease, Liability, Payment, Due [Abstract]
2019	1,610
2020	1,661
2021	1,180
2022	800
2023	489
Thereafter	337
Total minimum payments	6,077
Less: imputed interest	429
Total lease liabilities	5,648
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
2019	30,448
2020	47,877
2021	52,029
2022	52,176
2023	50,893
Thereafter	257,135
Total minimum payments	490,557
Less: imputed interest	125,169
Total lease liabilities	$ 365,388

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details)	Apr. 27, 2020USD ($)	Apr. 21, 2020USD ($)shares	May 31, 2020USD ($)	Apr. 29, 2020Shack	Apr. 10, 2020USD ($)	Mar. 25, 2020Shack
Class A Common Stock | ATM Program | Subsequent Event
Subsequent Event [Line Items]
Sale of stock, maximum offering price		$ 75,000,000
Sale of stock, number of shares issued in transaction (in shares) | shares		233,467
Proceeds from sale of stock		$ 9,794,000
Class A Common Stock | Over-Allotment Option | Subsequent Event
Subsequent Event [Line Items]
Sale of stock, number of shares issued in transaction (in shares) | shares		3,416,070
Proceeds from sale of stock		$ 135,857,000
Notes Payable to Banks | Subsequent Event
Subsequent Event [Line Items]
Proceeds from bank debt					$ 10,000,000
Repayments of bank debt	$ 10,005,000
First Amendment to the Credit Agreement | Line of credit | Subsequent Event
Subsequent Event [Line Items]
Debt instrument, minimum required liquidity			$ 25,000,000
First Amendment to the Credit Agreement | Minimum | Line of credit | London Interbank Offered Rate (LIBOR) | Subsequent Event
Subsequent Event [Line Items]
Basis spread on variable rate			1.00%
First Amendment to the Credit Agreement | Minimum | Line of credit | Prime rate | Subsequent Event
Subsequent Event [Line Items]
Basis spread on variable rate			0.00%
First Amendment to the Credit Agreement | Maximum | Line of credit | London Interbank Offered Rate (LIBOR) | Subsequent Event
Subsequent Event [Line Items]
Basis spread on variable rate			2.50%
First Amendment to the Credit Agreement | Maximum | Line of credit | Prime rate | Subsequent Event
Subsequent Event [Line Items]
Basis spread on variable rate			1.50%
Licensed | UNITED STATES
Subsequent Event [Line Items]
Number of Shacks closed | Shack						37
Licensed | UNITED STATES | Subsequent Event
Subsequent Event [Line Items]
Number of Shacks closed | Shack				17
Company-operated | Subsequent Event
Subsequent Event [Line Items]
Number of Shacks closed | Shack				61
Number of Shacks | Shack				120
Company-operated | UNITED STATES
Subsequent Event [Line Items]
Number of Shacks closed | Shack						12

Uncategorized Items - shak-2020

Label	Element	Value
Adjustments for New Accounting Pronouncement [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ 5,195,000
Adjustments for New Accounting Pronouncement [Member] | Retained Earnings [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	4,136,000
Adjustments for New Accounting Pronouncement [Member] | AOCI Attributable to Parent [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption
Adjustments for New Accounting Pronouncement [Member] | Noncontrolling Interest [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ 1,059,000