Shake Shack (SHAK) 10-Q 5 Nov 21 2021 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information Document and Entity Information - shares	3 Months Ended	9 Months Ended
	Sep. 29, 2021	Sep. 29, 2021	Oct. 27, 2021
Document Information [Line Items]
Security Exchange Name	NYSE
Trading Symbol	SHAK
Title of 12(b) Security	Class A Common Stock, par value $0.001
Entity Interactive Data Current	Yes
Local Phone Number	747-7200
City Area Code	646
Entity Address, Postal Zip Code	10014
Entity Tax Identification Number	47-1941186
Entity Incorporation, State or Country Code	DE
Entity File Number	001-36823
Document Transition Report	false
Document Quarterly Report	true
Document type	10-Q
Amendment flag	false
Document Period End Date		Sep. 29, 2021
Document fiscal year focus	2021
Document fiscal period focus	Q3
Entity registrant name	SHAKE SHACK INC.
Entity Address, Address Line One	225 Varick Street
Entity Address, Address Line Two	Suite 301
Entity Address, City or Town	New York,
Entity Address, State or Province	NY
Entity central index key	0001620533
Current fiscal year end date	--12-29
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)			39,140,045
Class B Common Stock
Document Information [Line Items]
Entity common stock, shares outstanding (in shares)			2,921,587

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Thousands	Sep. 29, 2021	Dec. 30, 2020
Current assets:
Cash and cash equivalents	$ 321,421	$ 146,873
Marketable securities	80,082	36,887
Accounts receivable, net	11,311	9,464
Inventories	3,525	2,888
Prepaid expenses and other current assets	2,841	7,074
Total current assets	419,180	203,186
Property and equipment, net of accumulated depreciation of $207,763 and $166,156, respectively	370,016	336,541
Operating lease assets	338,886	306,317
Deferred income taxes, net	300,818	287,007
Other assets	11,402	12,297
TOTAL ASSETS	1,440,302	1,145,348
Current liabilities:
Accounts payable	17,841	23,487
Accrued expenses	34,165	25,920
Accrued wages and related liabilities	14,169	10,441
Operating lease liabilities, current	38,811	35,657
Other current liabilities	13,273	14,200
Total current liabilities	118,259	109,705
Long-term debt	243,280	0
Long-term operating lease liabilities	378,686	343,736
Liabilities under tax receivable agreement, net of current portion	234,048	232,954
Other long-term liabilities	22,750	24,460
Total liabilities	997,023	710,855
Commitments and contingencies (Note 13)
Stockholders' equity:
Preferred stock, no par value—10,000,000 shares authorized; none issued and outstanding as of September 29, 2021 and December 30, 2020.	0	0
Additional paid-in capital	403,535	395,067
Retained earnings	13,284	12,209
Accumulated other comprehensive income	1	3
Total stockholders' equity attributable to Shake Shack Inc.	416,862	407,321
Non-controlling interests	26,417	27,172
Total equity	443,279	434,493
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	1,440,302	1,145,348
Class A Common Stock
Stockholders' equity:
Common stock	39	39
Class B Common Stock
Stockholders' equity:
Common stock	$ 3	$ 3

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENT OF INCOME (UNAUDITED) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 29, 2021	Sep. 23, 2020	Sep. 29, 2021	Sep. 23, 2020
TOTAL REVENUE	$ 193,895	$ 130,401	$ 536,637	$ 365,357
Shack-level operating expenses:
Food and paper costs	57,925	37,903	157,472	107,494
Labor and related expenses	58,208	37,898	157,221	110,597
Other operating expenses	26,613	18,743	74,032	50,826
Occupancy and related expenses	14,640	13,093	43,427	37,974
General and administrative expenses	20,504	14,962	60,435	45,170
Depreciation and amortization expense	15,183	12,376	43,381	36,233
Pre-opening costs	2,933	1,822	8,767	5,799
Impairment and loss on disposal of assets	535	402	1,262	2,924
TOTAL EXPENSES	196,541	137,199	545,997	397,017
LOSS FROM OPERATIONS	(2,646)	(6,798)	(9,360)	(31,660)
Other income, net	18	34	157	335
Interest expense	(350)	(143)	(1,224)	(697)
LOSS BEFORE INCOME TAXES	(2,978)	(6,907)	(10,427)	(32,022)
Benefit from income taxes	(576)	(797)	(10,665)	(6,802)
NET INCOME (LOSS)	(2,402)	(6,110)	238	(25,220)
Reallocation of net income (loss) attributable to non-controlling interests from the assumed conversion of Class B shares	(224)	(551)		(2,490)
NET INCOME (LOSS) ATTRIBUTABLE TO SHAKE SHACK INC.	$ (2,178)	$ (5,559)	$ 1,075	$ (22,730)
Earnings (loss) per share of Class A common stock:
Basic (in dollars per share)	$ (0.06)	$ (0.15)	$ 0.03	$ (0.62)
Diluted (in dollars per share)	$ (0.06)	$ (0.15)	$ 0.01	$ (0.62)
Weighted-average shares of Class A common stock outstanding:
Basic (in shares)	39,137	38,251	39,066	36,668
Diluted (in shares)	39,137	38,251	43,448	36,668
Shack sales
TOTAL REVENUE	$ 186,972	$ 126,288	$ 519,110	$ 353,855
Licensing revenue
TOTAL REVENUE	$ 6,923	$ 4,113	$ 17,527	$ 11,502

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 29, 2021	Sep. 23, 2020	Sep. 29, 2021	Sep. 23, 2020
Statement of Comprehensive Income [Abstract]
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	$ (2,402)	$ (6,110)	$ 238	$ (25,220)
Other comprehensive income (loss), net of tax(1):
Change in foreign currency translation adjustment	(1)	0	(2)	1
Net change	(1)	0	(2)	1
OTHER COMPREHENSIVE INCOME (LOSS)	(1)	0	(2)	1
COMPREHENSIVE INCOME (LOSS)	(2,403)	(6,110)	236	(25,219)
Less: Comprehensive loss attributable to non-controlling interests	(224)	(551)	(837)	(2,490)
COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO SHAKE SHACK INC.	$ (2,179)	$ (5,559)	$ 1,073	$ (22,729)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) (Parenthetical) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 29, 2021	Sep. 23, 2020	Sep. 29, 2021	Sep. 23, 2020
Statement of Comprehensive Income [Abstract]
Income tax benefit	$ 0	$ 0	$ 0	$ 0

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY (UNAUDITED) - USD ($) $ in Thousands	Total	Class A Common Stock	Class B Common Stock	Common Stock [Member]Class A Common Stock	Common Stock [Member]Class B Common Stock	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive Income	Non- Controlling Interest
Beginning balance (shares) at Dec. 25, 2019				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), Including Portion Attributable to Noncontrolling Interest	(25,220)						(22,730)		(2,490)
Other comprehensive income (loss):
Net change in foreign currency translation adjustment	1							1
Equity-based compensation	4,088					4,088
Activity under stock compensation plans (in shares)				180,068
Activity under stock compensation plans	(460)					(627)			167
Redemption of LLC Interests (in shares)				33,195	(33,195)
Redemption of LLC Interests	0					239			(239)
Establishment of liabilities under tax receivable agreement and related changes to deferred tax assets associated with increases in tax basis	929					929
Issuance of Class A common stock sold in equity offerings, net of underwriting discounts, commissions and offering costs (in shares)				3,649,537
Stock issued during period	144,997			$ 3		135,718			9,276
Distributions paid to non-controlling interest holders	(478)								(478)
Ending balance (shares) at Sep. 23, 2020				38,280,102	3,112,002
Ending balance at Sep. 23, 2020	446,762			$ 38	$ 3	386,011	31,637	3	29,070
Beginning balance (shares) at Jun. 24, 2020				38,236,538	3,117,002
Beginning balance at Jun. 24, 2020	451,285			$ 38	$ 3	384,338	37,196	3	29,707
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	(6,110)						(5,559)		(551)
Other comprehensive income (loss):
Net change in foreign currency translation adjustment	0
Equity-based compensation	1,346					1,346
Activity under stock compensation plans (in shares)				38,564
Activity under stock compensation plans	(489)					(367)			(122)
Redemption of LLC Interests (in shares)				5,000	(5,000)
Redemption of LLC Interests	0					44			(44)
Establishment of liabilities under tax receivable agreement and related changes to deferred tax assets associated with increases in tax basis	(84)					(84)
Distributions paid to non-controlling interest holders	(164)								(164)
Ending balance (shares) at Sep. 23, 2020				38,280,102	3,112,002
Ending balance at Sep. 23, 2020	446,762			$ 38	$ 3	386,011	31,637	3	29,070
Beginning balance (shares) at Dec. 30, 2020		38,717,790	2,951,188	38,717,790	2,951,188
Beginning balance at Dec. 30, 2020	434,493			$ 39	$ 3	395,067	12,209	3	27,172
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	238						1,075		(837)
Other comprehensive income (loss):
Net change in foreign currency translation adjustment	(2)							(2)
Equity-based compensation	6,037					6,037
Activity under stock compensation plans (in shares)				391,988
Activity under stock compensation plans	(3,178)					(2,185)			(993)
Redemption of LLC Interests (in shares)				29,601	(29,601)
Redemption of LLC Interests	0					33			(33)
Establishment of liabilities under tax receivable agreement and related changes to deferred tax assets associated with increases in tax basis	213					213
Issuance of Class A common stock sold in equity offerings, net of underwriting discounts, commissions and offering costs (in shares)				0
Stock issued during period	0			$ 0		0			0
Distributions paid to non-controlling interest holders	(878)								(878)
Ending balance (shares) at Sep. 29, 2021		39,139,379	2,921,587	39,139,379	2,921,587
Ending balance at Sep. 29, 2021	443,279			$ 39	$ 3	403,535	13,284	1	26,417
Beginning balance (shares) at Jun. 30, 2021				39,134,356	2,921,587
Beginning balance at Jun. 30, 2021	443,532			$ 39	$ 3	401,567	15,462	2	26,459
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	(2,402)						(2,178)		(224)
Other comprehensive income (loss):
Net change in foreign currency translation adjustment	(1)							(1)
Equity-based compensation	2,354					2,354
Activity under stock compensation plans (in shares)				5,023
Activity under stock compensation plans	(32)					386			(354)
Redemption of LLC Interests (in shares)				0	0
Redemption of LLC Interests	0					0			0
Establishment of liabilities under tax receivable agreement and related changes to deferred tax assets associated with increases in tax basis	0					0
Distributions paid to non-controlling interest holders	(172)								(172)
Ending balance (shares) at Sep. 29, 2021		39,139,379	2,921,587	39,139,379	2,921,587
Ending balance at Sep. 29, 2021	$ 443,279			$ 39	$ 3	$ 403,535	$ 13,284	$ 1	$ 26,417

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 29, 2021	Sep. 23, 2020
OPERATING ACTIVITIES
Net income (loss) (including amounts attributable to non-controlling interests)	$ 238	$ (25,220)
Adjustments to reconcile net income (loss) to net cash provided by operating activities
Depreciation and amortization expense	43,381	36,233
Amortization of debt issuance costs	605	0
Capitalized Computer Software, Amortization	935	1,086
Non-cash operating lease cost	37,213	33,726
Equity-based compensation	5,963	4,058
Deferred income taxes	9,708	8,680
Non-cash interest expense	348	48
Loss (gain) on sale of marketable securities	5	(79)
Impairment and loss on disposal of assets	1,262	2,924
Unrealized loss on equity securities	117	22
Other non-cash (income) expense	(2)	906
Changes in operating assets and liabilities:
Accounts receivable	(1,847)	2,241
Inventories	(637)	(162)
Prepaid expenses and other current assets	4,233	(759)
Other assets	(767)	(2,111)
Accounts payable	(6,780)	4,349
Accrued expenses	(18,682)	(13,361)
Accrued wages and related liabilities	3,709	(2,214)
Other current liabilities	(2,202)	437
Long-term operating lease liabilities	(31,886)	(25,298)
Other long-term liabilities	(1,174)	2,992
NET CASH PROVIDED BY OPERATING ACTIVITIES	43,740	28,498
INVESTING ACTIVITIES
Purchases of property and equipment	(68,852)	(47,002)
Purchases of marketable securities	(47,321)	(314)
Sales of marketable securities	4,004	20,000
NET CASH USED IN INVESTING ACTIVITIES	(112,169)	(27,316)
FINANCING ACTIVITIES
Proceeds from issuance of convertible notes, net of discount	243,750	0
Proceeds from revolving credit facility	0	50,000
Payments on revolving credit facility	0	(50,000)
Deferred financing costs	(123)	(64)
Proceeds from issuance of Class A common stock sold in equity offerings, net of underwriting discounts, commissions and offering costs	0	144,997
Payments on principal of finance leases	(1,982)	(1,670)
Distributions paid to non-controlling interest holders	(878)	(478)
Payments under tax receivable agreement	0	(6,643)
Debt issuance costs	(968)	0
Proceeds from stock option exercises	6,688	2,239
Payment, Tax Withholding, Share-based Payment Arrangement	(3,510)	(1,779)
NET CASH PROVIDED BY FINANCING ACTIVITIES	242,977	136,602
NET INCREASE IN CASH AND CASH EQUIVALENTS	174,548	137,784
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	146,873	37,099
CASH AND CASH EQUIVALENTS AT END OF PERIOD	$ 321,421	$ 174,883

SUPPLEMENTAL CASH FLOW INFORMAT

SUPPLEMENTAL CASH FLOW INFORMATION	9 Months Ended
	Sep. 29, 2021
Supplemental Cash Flow Elements [Abstract]
SUPPLEMENTAL CASH FLOW INFORMATION	SUPPLEMENTAL CASH FLOW INFORMATION The following table sets forth supplemental cash flow information for the thirty-nine weeks ended September 29, 2021 and September 23, 2020: Thirty-Nine Weeks Ended September 29 September 23 Cash paid for: Income taxes, net of refunds $ 1,788 $ 1,270 Interest, net of amounts capitalized 198 584 Non-cash investing activities: Accrued purchases of property and equipment 15,661 9,544 Capitalized equity-based compensation 47 29 Non-cash financing activities: Revolving Credit Facility amendment-related accrual 46 — Convertible Notes issuance-related accrual 107 — Establishment of liabilities under tax receivable agreement 1,093 414

SUPPLEMENTAL CASH FLOW INFORM_2

SUPPLEMENTAL CASH FLOW INFORMATION (Tables)	9 Months Ended
	Sep. 29, 2021
Supplemental Cash Flow Elements [Abstract]
Schedule of Cash Flow Information	The following table sets forth supplemental cash flow information for the thirty-nine weeks ended September 29, 2021 and September 23, 2020: Thirty-Nine Weeks Ended September 29 September 23 Cash paid for: Income taxes, net of refunds $ 1,788 $ 1,270 Interest, net of amounts capitalized 198 584 Non-cash investing activities: Accrued purchases of property and equipment 15,661 9,544 Capitalized equity-based compensation 47 29 Non-cash financing activities: Revolving Credit Facility amendment-related accrual 46 — Convertible Notes issuance-related accrual 107 — Establishment of liabilities under tax receivable agreement 1,093 414

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parenthetical) - USD ($) $ in Thousands	Sep. 29, 2021	Dec. 30, 2020
Property and equipment, net of accumulated depreciation	$ 207,763	$ 166,156
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)	39,139,379	38,717,790
Common stock, shares, outstanding (in shares)	39,139,379	38,717,790
Class B Common Stock
Common stock par value (in dollars per share)	$ 0.001
Common stock, shares authorized (in shares)	35,000,000	35,000,000
Common stock, shares, issued (in shares)	2,921,587	2,951,188
Common stock, shares, outstanding (in shares)	2,921,587	2,951,188

SUPPLEMENTAL CASH FLOW INFORM_3

SUPPLEMENTAL CASH FLOW INFORMATION (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 29, 2021	Sep. 23, 2020
Cash paid for:
Income taxes, net of refunds	$ 1,788	$ 1,270
Interest, net of amounts capitalized	198	584
Non-cash investing activities:
Accrued purchases of property and equipment	15,661	9,544
Capitalized equity-based compensation	47	29
Non-cash financing activities:
Revolving Credit Facility amendment-related accrual	46	0
Convertible Notes issuance-related accrual	107	$ 0
Establishment of liabilities under tax receivable agreement	$ 1,093

NATURE OF OPERATIONS

NATURE OF OPERATIONS	9 Months Ended
	Sep. 29, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
NATURE OF OPERATIONS	NATURE OF OPERATIONSShake Shack Inc. 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"). Shake Shack is the sole managing member of SSE Holdings and, as sole managing member, the Company operates and controls all of the business and affairs of SSE Holdings. As a result, the Company consolidates the financial results of SSE Holdings and reports a non-controlling interest representing the economic interest in SSE Holdings held by the other members of SSE Holdings. As of September 29, 2021 the Company owned 93.1% 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.The Company operates and licenses Shake Shack restaurants ("Shacks"), which serve hamburgers, hot dogs, chicken, crinkle-cut fries, shakes, frozen custard, beer, wine and more. As of September 29, 2021, there were 350 Shacks in operation, system-wide, of which 205 were domestic Company-operated Shacks, 24 were domestic licensed Shacks and 121 were international licensed Shacks. As of September 29, 2021, two domestic Company-operated Shacks and seven licensed Shacks were temporarily closed primarily due to the COVID-19 pandemic.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Sep. 29, 2021
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 its Annual Report on Form 10-K for the fiscal year ended December 30, 2020 ("2020 Form 10-K"). Certain information and footnote disclosures normally presented in annual financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. These interim condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes thereto included in its 2020 Form 10-K. In the Company's opinion, all adjustments, which are normal and recurring in nature, necessary for a fair presentation of the 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. SSE Holdings is considered a variable interest entity. Shake Shack Inc. is the primary beneficiary as the Company has the majority economic interest in SSE Holdings and, as the sole managing member, has 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, the Company consolidates SSE Holdings. The assets and liabilities of SSE Holdings represent substantially all of the Company's consolidated assets and liabilities with the exception of certain deferred taxes and liabilities under the Tax Receivable Agreement. As of September 29, 2021 and December 30, 2020, the net assets of SSE Holdings were $383,138 and $383,669, respectively. The assets of SSE Holdings are subject to certain restrictions in SSE Holdings' revolving credit agreement. Refer to Note 6, Debt, for additional information. Fiscal Year The Company operates on a 52/53 week fiscal year ending on the last Wednesday in December. Fiscal 2021 contains 52 weeks and ends on December 29, 2021. Fiscal 2020 contained 53 weeks and ended on December 30, 2020. 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 management 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 The Company adopted the Accounting Standards Updates (“ASUs”) summarized below in fiscal 2021. Accounting Standards Update Description Date Simplifying the Accounting for Income Taxes (ASU 2019-12) This standard simplifies various aspects related to accounting for income taxes by removing certain exceptions to the general principles in ASC 740, “Income Taxes” (“ASC 740”), and clarifying certain aspects of the current guidance to promote consistency among reporting entities. The adoption of this standard did not have a material impact to the Company's condensed consolidated financial statements. December 31, 2020 Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity's Own (ASU 2020-06) This ASU amends the guidance on convertible instruments and the derivatives scope exception for contracts in an entity’s own equity and improves and amends the related earnings per share guidance for both Subtopics. The Company elected to early adopt this standard, beginning December 31, 2020. The guidance of this ASU is applicable to the convertible notes issued in March 2021. As a result, the convertible notes are accounted for as a single liability measured at amortized cost. The if-converted earnings per share ("EPS") method is used, with the effect of potential share settlement included in diluted EPS. Refer to Note 6, Debt, and Note 11, Earnings Per Share, for additional information. December 31, 2020

REVENUE

REVENUE	9 Months Ended
	Sep. 29, 2021
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 the Company expects to be entitled to in exchange for those goods or services. Shack sales are recognized when payment is tendered at the point of sale as the performance obligation has been satisfied. 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 gift cards is deferred and recognized upon redemption. Licensing revenue includes 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 the 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. The Company determines the transaction price for each contract, which is comprised of the initial territory fee, and an estimate of the total Shack opening fees the Company expects 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 the Company expects 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 the Company is transferring licenses to access 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 Shack opening fees is received either in advance of or upon opening the related Shack. These payments are initially deferred and recognized as revenue as the performance obligations are satisfied, which occurs over a long-term period. Revenue from sales-based royalties is recognized as the related sales occur. Revenue recognized during the thirteen and thirty-nine weeks ended September 29, 2021 and September 23, 2020, disaggregated by type is as follows: Thirteen Weeks Ended Thirty-Nine Weeks Ended September 29 September 23 September 29 September 23 Shack sales $ 186,972 $ 126,288 $ 519,110 $ 353,855 Licensing revenue: Sales-based royalties 6,711 3,867 16,961 10,943 Initial territory and opening fees 212 246 566 559 Total revenue $ 193,895 $ 130,401 $ 536,637 $ 365,357 The aggregate amount of the transaction price allocated to performance obligations that are unsatisfied (or partially unsatisfied) as of September 29, 2021 was $17,821. The Company expects to recognize this amount as revenue over a long-term period, as the license term for each Shack ranges from 5 to 20 years. This amount excludes any variable consideration related to sales-based royalties. Contract Balances Opening and closing balances of contract liabilities and receivables from contracts with customers is as follows: September 29 December 31 Shack sales receivables $ 5,612 $ 5,373 Licensing receivables, net of allowance for doubtful accounts 3,874 2,647 Gift card liability 2,656 2,637 Deferred revenue, current 759 608 Deferred revenue, long-term 12,745 12,151 Revenue recognized during the thirteen and thirty-nine weeks ended September 29, 2021 and September 23, 2020 that was included in their respective liability balances at the beginning of the period is as follows: Thirteen Weeks Ended Thirty-Nine Weeks Ended September 29 September 23 September 29 September 23 Gift card liability $ 73 $ 91 $ 400 $ 436 Deferred revenue 203 234 543 539

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	9 Months Ended
	Sep. 29, 2021
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS Assets and Liabilities Measured at Fair Value on a Recurring Basis The carrying value of the Company's Cash and cash equivalents, Accounts receivable, net, Accounts payable and Accrued expenses approximate their fair value due to the short-term nature of these financial instruments. As of September 29, 2021 and December 30, 2020, the Company held certain assets that are required to be measured at fair value on a recurring basis including Marketable securities, which consist of investments in equity securities. Fair value of these investments is measured using Level 1 inputs (unadjusted quoted prices in active markets for identical assets). The carrying value of these investments in equity securities approximates fair value. Assets measured at fair value on a recurring basis as of September 29, 2021 and December 30, 2020 were as follows: Fair Value Measurements September 29 December 30 Level 1 Level 1 Equity securities: Mutual funds $ 80,082 $ 36,887 Total Marketable securities $ 80,082 $ 36,887 Refer to Note 6, Debt, for additional information relating to the fair value of the Company's outstanding debt instruments. A summary of Other income, net from equity securities recognized during the thirteen and thirty-nine weeks ended September 29, 2021 and September 23, 2020 is as follows: Thirteen Weeks Ended Thirty-Nine Weeks Ended September 29 September 23 September 29 September 23 Equity securities: Dividend income $ 56 $ 40 $ 223 $ 290 Realized gain (loss) on sale of investments — — (5) 79 Unrealized gain (loss) on equity securities (80) — (117) (22) Total $ (24) $ 40 $ 101 $ 347 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 long-lived assets, operating lease right-of-use assets and indefinite-lived intangible assets. There were no impairment charges recognized during the thirteen and thirty-nine weeks ended September 29, 2021. During the thirty-nine weeks ended September 23, 2020, the Company 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 impairment charge was included in Impairment and loss on disposal of assets on the Condensed Consolidated Statements 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 recognized during the thirteen weeks ended September 23, 2020.

SUPPLEMENTAL BALANCE SHEET INFO

SUPPLEMENTAL BALANCE SHEET INFORMATION	9 Months Ended
	Sep. 29, 2021
Supplemental Balance Sheet Disclosures [Abstract]
SUPPLEMENTAL BALANCE SHEET INFORMATION	SUPPLEMENTAL BALANCE SHEET INFORMATION The components of Other current liabilities as of September 29, 2021 and December 30, 2020 are as follows: September 29 December 30 Sales tax payable $ 4,230 $ 4,285 Gift card liability 2,656 2,637 Current portion of financing equipment lease liabilities 2,553 1,998 Other 3,834 5,280 Other current liabilities $ 13,273 $ 14,200 The components of Other long-term liabilities as of September 29, 2021 and December 30, 2020 are as follows: September 29 December 30 Deferred licensing revenue $ 12,745 $ 12,151 Long-term portion of financing equipment lease liabilities 3,977 3,586 Other (1) 6,028 8,723 Other long-term liabilities $ 22,750 $ 24,460

DEBT

DEBT	9 Months Ended
	Sep. 29, 2021
Debt Disclosure [Abstract]
DEBT	DEBT Revolving Credit Facility In August 2019, the Company entered into a 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 also permits the issuance of letters of credit upon request of up to $15,000. In March 2020, the Company 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. This amount was paid in full, plus interest, in June 2020. In May 2020, the Company entered into a first amendment to the Revolving Credit Facility ("First Amendment"), which, among other things, provided for modified financial covenant compliance requirements for a period of time. The First Amendment required the Company to maintain minimum liquidity of $25,000 through July 1, 2021 and outstanding borrowings during the applicable period covered by the First Amendment bore interest at either: (i) the London Interbank Offered Rate ("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 the Company's net lease adjusted leverage ratio. In March 2021, the Company entered into a second amendment to the Revolving Credit Facility (“Second Amendment”). The Second Amendment modified the applicable covenants and restrictions in the Revolving Credit Facility to permit the incurrence of the Convertible Notes (as defined below), including obligations and transactions in connection therewith. In addition, the Second Amendment, among other things, (i) extended the period applicable to the increased interest rate margin as set forth in the First Amendment; (ii) shortened the maturity date of the Revolving Credit Facility from August 2024 to September 2022 and (iii) added mechanics relating to the transition from the use of LIBOR to the Secured Overnight Financing Rate ("SOFR") upon the discontinuance or unavailability of LIBOR. Subsequently, and also in March 2021, the Company entered into a third amendment to the Revolving Credit Facility (“Third Amendment”) as Wells Fargo Bank resigned as administrative agent under the Revolving Credit Facility and assigned its commitments thereunder to JPMorgan Bank, N.A. The Third Amendment appoints JPMorgan Bank, N.A. as administrative agent under the Revolving Credit Facility. In addition, the Third Amendment, among other things, extends the maturity date of the Revolving Credit Facility from September 2022 to March 2026. As of September 29, 2021 and December 30, 2020, no amounts were outstanding under the Revolving Credit Facility. 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 the Company to comply with maximum net lease adjusted leverage and minimum fixed charge coverage ratios. The Company is not subject to these coverage ratios for a period of time due to the Second Amendment to the Revolving Credit Facility described above. In addition, the Revolving Credit Facility contains other customary affirmative and negative covenants, including those which (subject to certain exceptions and dollar thresholds) limit the Company's 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 the Company, with certain exceptions, from engaging in any line of business not related to its current line of business. As of September 29, 2021, the Company was in compliance with all covenants. As of September 29, 2021, the Revolving Credit Facility had unamortized deferred financing costs of $86 which were included in Other assets on the Condensed Consolidated Balance Sheets. Total interest expense related to the Revolving Credit Facility for the thirteen and thirty-nine weeks ended September 29, 2021 was $37 and $442, respectively, and $143 and $697, respectively, for the thirteen and thirty-nine weeks ended September 23, 2020. Interest expense for the thirty-nine weeks ended September 29, 2021 primarily included the write-off of previously capitalized costs on the Revolving Credit Facility. Convertible Notes In March 2021, the Company issued $225,000 aggregate principal amount of 0% Convertible Senior Notes due 2028 (“Convertible Notes”) in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933. The Company granted an option to the initial purchasers to purchase up to an additional $25,000 aggregate principal amount of Convertible Notes to cover over-allotments, which was subsequently fully exercised during March 2021, resulting in a total issuance of $250,000 aggregate principal amount of Convertible Notes. The Convertible Notes will mature on March 1, 2028, unless earlier converted, redeemed or repurchased in certain circumstances. Upon conversion, the Company pays or delivers, as the case may be, cash, shares of Class A common stock or a combination of cash and shares of Class A common stock, at the Company's election. The Convertible Notes are convertible at the option of the holders at any time prior to the close of business on the business day immediately preceding December 1, 2027, only under the following circumstances: (1) during any fiscal quarter commencing after the fiscal quarter ending on June 30, 2021 (and only during such fiscal quarter), if the last reported sale price of the Company's Class A common stock, par value $0.001 per share, for at least 20 trading days (whether or not consecutive) during a period of 30 consecutive trading days ending on, and including, the last trading day of the immediately preceding fiscal quarter is greater than or equal to 130% of the conversion price for the Convertible Notes on each applicable trading day; (2) during the five business day period after any ten consecutive trading day period (the “measurement period”) in which the trading price (as defined in the Indenture) per one thousand dollar principal amount of the Convertible Notes for each trading day of the measurement period was less than 98% of the product of the last reported sale price of Class A common stock and the conversion rate for the Convertible Notes on each such trading day; (3) if the Company calls such Convertible Notes for redemption, at any time prior to the close of business on the scheduled trading day immediately preceding the redemption date, but only with respect to the Convertible Notes called (or deemed called) for redemption; and (4) upon the occurrence of specified corporate events as set forth in the Indenture. On or after December 1, 2027, until the close of business on the second scheduled trading day immediately preceding the maturity date, holders of the Convertible Notes may convert all or any portion of their Convertible Notes at any time, regardless of the foregoing circumstances. The Convertible Notes had an initial conversion rate of 5.8679 shares of Class A common stock per one thousand dollar principal amount of Convertible Notes, which is equivalent to an initial conversion price of approximately $170.42 per share of Class A common stock. Shake Shack may not redeem the Convertible Notes prior to March 6, 2025. The Company may redeem for cash all or any portion of the Convertible Notes, at the Company's option, on or after March 6, 2025 if the last reported sale price of Class A common stock has been at least 130% of the conversion price then in effect for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period (including the last trading day of such period) ending on, and including, the trading day immediately preceding the date on which the Company provides notice of redemption at a redemption price equal to 100% of the principal amount of the Convertible Notes to be redeemed, plus accrued and unpaid special interest, if any, to, but excluding, the redemption date. In addition, if Shake Shack undergoes a fundamental change (as defined in the indenture governing the Convertible Notes), subject to certain conditions, holders may require it to repurchase for cash all or any portion of their Convertible Notes at a repurchase price equal to 100% of the principal amount of the Convertible Notes to be repurchased, plus accrued and unpaid special interest, if any, to, but excluding, the fundamental change repurchase date. In addition, following certain corporate events that occur prior to the maturity date of the Convertible Notes or if the Company delivers a notice of redemption in respect of some or all of the Convertible Notes, the Company will, in certain circumstances, increase the conversion rate of the Convertible Notes for a holder who elects to convert the Convertible Notes in connection with such a corporate event or convert the Convertible Notes called (or deemed called) for redemption during the related redemption period, as the case may be. Contemporaneously with the issuance of the Convertible Notes, Shake Shack Inc. entered into an intercompany note with SSE Holdings (“Intercompany Note”). SSE Holdings promises to pay Shake Shack Inc., for value received, the principal amount with interest of the Intercompany Note in March 2028. Shake Shack Inc. will exercise its right to convert the Intercompany Note to maintain at all times a one-to-one ratio between the number of common units, directly or indirectly, held by Shake Shack Inc. and the aggregate number of outstanding shares of common stock. As of September 29, 2021, the Convertible Notes had a gross principal balance of $250,000 and a balance of $243,280, net of unamortized discount and debt issuance costs of $6,720. As of September 29, 2021, the unamortized balance of discount and debt issuance costs was recorded as a contra-liability and netted with Long-term debt on the Condensed Consolidated Balance Sheets and was being amortized as interest expense using the effective interest method. Total amortization expense was $262 and $605 respectively, for thirteen and thirty-nine weeks ended September 29, 2021 and was included in Interest expense in the Condensed Consolidated Statements of Income (Loss). In connection with the Convertible Notes, the Company also incurred consulting and advisory fees of $236 for the thirty-nine weeks ended September 29, 2021 and was included in General and administrative expenses in the Condensed Consolidated Statements of Income (Loss). At September 29, 2021, the fair value of the Convertible Notes was approximately $215,898, based on external pricing data, including available quoted market prices of these instruments, and consideration of comparable debt instruments with similar interest rates and trading frequency, among other factors, and is classified as a Level 2 measurement within the fair value hierarchy.

LEASES

LEASES	9 Months Ended
	Sep. 29, 2021
Leases [Abstract]
LEASES	LEASES Nature of Leases Shake Shack currently leases all of its domestic Company-operated Shacks, the home office and certain equipment under various non-cancelable lease agreements that expire on various dates through 2038. The Company evaluates 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. The Company evaluates whether it controls the use of the asset, which is determined by assessing whether substantially all economic benefits from the use of the asset is obtained, and whether the Company has the right to direct the use of the asset. If these criteria are met and the Company has identified a lease, the contract is accounted for under the requirements of Accounting Standards Codification Topic 842. Upon the possession of a leased asset, the Company determines its classification as an operating or finance lease. The real estate leases are classified as operating leases and most of the equipment leases are classified as finance leases. Generally, the 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 the Company would exercise the options to extend the lease. The real estate leases typically provide for fixed minimum rent payments and/or contingent rent payments based upon sales in excess of specified thresholds. When the achievement of such sales thresholds are deemed to be probable, contingent rent is accrued in proportion to the sales recognized during the period. Fixed minimum rent payments are recognized on a straight-line basis over the lease term from the date the Company takes possession of the leased property. Lease expense incurred before a Shack opens is recorded in Pre-opening costs on the Condensed Consolidated Statements of Income (Loss). Once a domestic Company-operated Shack opens, the straight-line lease expense and any contingent rent, if applicable, is recorded in Occupancy and related expenses on the Condensed Consolidated Statements of Income (Loss). Many of the leases also require the Company 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 are no explicit rates provided in the leases, the Company uses its incremental borrowing rate ("IBR") in determining the present value of future lease payments. The IBR used to measure the lease liability is 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 IBR is the Company's credit rating and is subject to judgment. The credit rating used to develop the IBR is determined by utilizing the credit ratings of other public companies with similar financial information as SSE Holdings. The Company expends cash for leasehold improvements to build out and equip the leased premises. Generally, a portion of the leasehold improvements and building costs are reimbursed by the landlords as landlord incentives pursuant to agreed-upon terms in the lease agreements. If obtained, landlord incentives usually take the form of cash, full or partial credits against future minimum or contingent rents otherwise payable by the Company, or a combination thereof. In most cases, landlord incentives are received after the Company takes possession of the property, as required milestones are met during the construction of the property. The Company includes these amounts in the measurement of the initial operating lease liability, which are also reflected as a reduction to the initial measurement of the right-of-use asset. A summary of finance and operating lease right-of-use assets and liabilities as of September 29, 2021 and December 30, 2020 is as follows: Classification September 29 December 30 Finance leases Property and equipment, net $ 6,328 $ 5,409 Operating leases Operating lease assets 338,886 306,317 Total right-of-use assets $ 345,214 $ 311,726 Finance leases: Other current liabilities $ 2,553 $ 1,998 Other long-term liabilities 3,977 3,586 Operating leases: Operating lease liabilities, current 38,811 35,657 Long-term operating lease liabilities 378,686 343,736 Total lease liabilities $ 424,027 $ 384,977 The components of lease expense for the thirteen and thirty-nine weeks ended September 29, 2021 and September 23, 2020 was as follows: Thirteen Weeks Ended Thirty-Nine Weeks Ended Classification September 29 September 23 September 29 September 23 Finance lease cost: Amortization of right-of-use assets Depreciation and amortization expense $ 715 $ 531 $ 2,003 $ 1,710 Interest on lease liabilities Interest expense 47 51 158 161 Operating lease cost Occupancy and related expenses 12,497 11,506 37,213 33,726 Short-term lease cost Occupancy and related expenses 79 138 228 331 Variable lease cost Occupancy and related expenses 3,347 3,267 9,556 9,413 Total lease cost $ 16,685 $ 15,493 $ 49,158 $ 45,341 As of September 29, 2021, future minimum lease payments for finance and operating leases consisted of the following: Finance Leases Operating Leases 2021 $ 743 $ 10,232 2022 2,560 50,556 2023 1,671 61,009 2024 927 60,907 2025 574 59,962 Thereafter 449 294,310 Total minimum payments 6,924 536,976 Less: imputed interest 395 119,479 Total lease liabilities $ 6,529 $ 417,497 As of September 29, 2021 the Company had additional operating lease commitments of $50,967 for non-cancelable leases without a possession date, which begin to commence in 2021. These lease commitments are consistent with the leases that have been executed thus far. A summary of lease terms and discount rates for finance and operating leases as of September 29, 2021 and December 30, 2020 is as follows: September 29 December 30 Weighted-average remaining lease term (years): Finance leases 5.3 5.2 Operating leases 9.5 9.7 Weighted-average discount rate: Finance leases 3.1 % 3.6 % Operating leases 3.5 % 4.2 % Supplemental cash flow information related to leases for the thirty-nine weeks ended September 29, 2021 and September 23, 2020 is as follows: Thirty-Nine Weeks Ended September 29 September 23 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from finance leases $ 158 $ 161 Operating cash flows from operating leases 35,703 29,449 Financing cash flows from finance leases 1,982 1,670 Right-of-use assets obtained in exchange for lease obligations: Finance leases 2,922 1,411 Operating leases 52,747 42,502
LEASES	LEASES Nature of Leases Shake Shack currently leases all of its domestic Company-operated Shacks, the home office and certain equipment under various non-cancelable lease agreements that expire on various dates through 2038. The Company evaluates 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. The Company evaluates whether it controls the use of the asset, which is determined by assessing whether substantially all economic benefits from the use of the asset is obtained, and whether the Company has the right to direct the use of the asset. If these criteria are met and the Company has identified a lease, the contract is accounted for under the requirements of Accounting Standards Codification Topic 842. Upon the possession of a leased asset, the Company determines its classification as an operating or finance lease. The real estate leases are classified as operating leases and most of the equipment leases are classified as finance leases. Generally, the 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 the Company would exercise the options to extend the lease. The real estate leases typically provide for fixed minimum rent payments and/or contingent rent payments based upon sales in excess of specified thresholds. When the achievement of such sales thresholds are deemed to be probable, contingent rent is accrued in proportion to the sales recognized during the period. Fixed minimum rent payments are recognized on a straight-line basis over the lease term from the date the Company takes possession of the leased property. Lease expense incurred before a Shack opens is recorded in Pre-opening costs on the Condensed Consolidated Statements of Income (Loss). Once a domestic Company-operated Shack opens, the straight-line lease expense and any contingent rent, if applicable, is recorded in Occupancy and related expenses on the Condensed Consolidated Statements of Income (Loss). Many of the leases also require the Company 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 are no explicit rates provided in the leases, the Company uses its incremental borrowing rate ("IBR") in determining the present value of future lease payments. The IBR used to measure the lease liability is 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 IBR is the Company's credit rating and is subject to judgment. The credit rating used to develop the IBR is determined by utilizing the credit ratings of other public companies with similar financial information as SSE Holdings. The Company expends cash for leasehold improvements to build out and equip the leased premises. Generally, a portion of the leasehold improvements and building costs are reimbursed by the landlords as landlord incentives pursuant to agreed-upon terms in the lease agreements. If obtained, landlord incentives usually take the form of cash, full or partial credits against future minimum or contingent rents otherwise payable by the Company, or a combination thereof. In most cases, landlord incentives are received after the Company takes possession of the property, as required milestones are met during the construction of the property. The Company includes these amounts in the measurement of the initial operating lease liability, which are also reflected as a reduction to the initial measurement of the right-of-use asset. A summary of finance and operating lease right-of-use assets and liabilities as of September 29, 2021 and December 30, 2020 is as follows: Classification September 29 December 30 Finance leases Property and equipment, net $ 6,328 $ 5,409 Operating leases Operating lease assets 338,886 306,317 Total right-of-use assets $ 345,214 $ 311,726 Finance leases: Other current liabilities $ 2,553 $ 1,998 Other long-term liabilities 3,977 3,586 Operating leases: Operating lease liabilities, current 38,811 35,657 Long-term operating lease liabilities 378,686 343,736 Total lease liabilities $ 424,027 $ 384,977 The components of lease expense for the thirteen and thirty-nine weeks ended September 29, 2021 and September 23, 2020 was as follows: Thirteen Weeks Ended Thirty-Nine Weeks Ended Classification September 29 September 23 September 29 September 23 Finance lease cost: Amortization of right-of-use assets Depreciation and amortization expense $ 715 $ 531 $ 2,003 $ 1,710 Interest on lease liabilities Interest expense 47 51 158 161 Operating lease cost Occupancy and related expenses 12,497 11,506 37,213 33,726 Short-term lease cost Occupancy and related expenses 79 138 228 331 Variable lease cost Occupancy and related expenses 3,347 3,267 9,556 9,413 Total lease cost $ 16,685 $ 15,493 $ 49,158 $ 45,341 As of September 29, 2021, future minimum lease payments for finance and operating leases consisted of the following: Finance Leases Operating Leases 2021 $ 743 $ 10,232 2022 2,560 50,556 2023 1,671 61,009 2024 927 60,907 2025 574 59,962 Thereafter 449 294,310 Total minimum payments 6,924 536,976 Less: imputed interest 395 119,479 Total lease liabilities $ 6,529 $ 417,497 As of September 29, 2021 the Company had additional operating lease commitments of $50,967 for non-cancelable leases without a possession date, which begin to commence in 2021. These lease commitments are consistent with the leases that have been executed thus far. A summary of lease terms and discount rates for finance and operating leases as of September 29, 2021 and December 30, 2020 is as follows: September 29 December 30 Weighted-average remaining lease term (years): Finance leases 5.3 5.2 Operating leases 9.5 9.7 Weighted-average discount rate: Finance leases 3.1 % 3.6 % Operating leases 3.5 % 4.2 % Supplemental cash flow information related to leases for the thirty-nine weeks ended September 29, 2021 and September 23, 2020 is as follows: Thirty-Nine Weeks Ended September 29 September 23 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from finance leases $ 158 $ 161 Operating cash flows from operating leases 35,703 29,449 Financing cash flows from finance leases 1,982 1,670 Right-of-use assets obtained in exchange for lease obligations: Finance leases 2,922 1,411 Operating leases 52,747 42,502

NON-CONTROLLING INTERESTS

NON-CONTROLLING INTERESTS	9 Months Ended
	Sep. 29, 2021
Noncontrolling Interest [Abstract]
NON-CONTROLLING INTERESTS	NON-CONTROLLING INTERESTS Shake Shack is the sole managing member of SSE Holdings and, as a result, consolidates the financial results of SSE Holdings. The Company reports a non-controlling interest representing the economic interest in SSE Holdings held by the other members of SSE Holdings. The Third Amended and Restated Limited Liability Company Agreement, as further amended, (the "LLC Agreement") of SSE Holdings provides that holders of LLC Interests may, from time to time, require SSE Holdings to redeem all or a portion of their LLC Interests for newly-issued shares of Class A common stock on a one-for-one basis. In connection with any redemption or exchange, the Company will receive a corresponding number of LLC Interests, increasing the total ownership interest in SSE Holdings. Changes in the ownership interest in SSE Holdings while the Company retains its controlling interest in SSE Holdings will be accounted for as equity transactions. As such, future redemptions or direct exchanges of LLC Interests in SSE Holdings by the other members of SSE Holdings will result in a change in ownership and reduce the amount recorded as non-controlling interest and increase additional paid-in capital. The following table summarizes the ownership interest in SSE Holdings as of September 29, 2021 and December 30, 2020. September 29, 2021 December 30, 2020 LLC Interests Ownership % LLC Interests Ownership % Number of LLC Interests held by Shake Shack Inc. 39,139,379 93.1 % 38,717,790 92.9 % Number of LLC Interests held by non-controlling interest holders 2,921,587 6.9 % 2,951,188 7.1 % Total LLC Interests outstanding 42,060,966 100.0 % 41,668,978 100.0 % 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 and thirty-nine weeks ended September 29, 2021 was 6.9% and 7.0%, respectively. The non-controlling interest holders' weighted average ownership percentage for the thirteen and thirty-nine weeks ended September 23, 2020 was 7.5% and 7.9%, respectively. The following table summarizes the effects of changes in ownership of SSE Holdings on the Company's equity during the thirteen and thirty-nine weeks ended September 29, 2021 and September 23, 2020. Thirteen Weeks Ended Thirty-Nine Weeks Ended September 29 September 23 September 29 September 23 Net income (loss) attributable to Shake Shack Inc. $ (2,178) $ (5,559) $ 1,075 $ (22,730) Other comprehensive income: Increase in additional paid-in capital as a result of the redemption of LLC Interests — 44 33 239 Increase (decrease) in additional paid-in capital as a result of activity under stock compensation plans and the related income tax effects (386) 367 2,186 627 Increase in additional paid-in capital as a result of the issuance of Class A common stock sold in equity offerings — — — 135,718 Total effect of changes in ownership interest on equity (loss) attributable to Shake Shack Inc. $ (2,564) $ (5,148) $ 3,294 $ 113,854 The following table summarizes redemptions of LLC Interests activity during the thirteen and thirty-nine weeks ended September 29, 2021 and September 23, 2020. Thirteen Weeks Ended Thirty-Nine Weeks Ended September 29 September 23 September 29 September 23 Redemption and acquisition of LLC Interests Number of LLC Interests redeemed by non-controlling interest holders — 5,000 29,601 33,195 Number of LLC Interests received by Shake Shack Inc. — 5,000 29,601 33,195 Issuance of Class A common stock Shares of Class A common stock issued in connection with redemptions of LLC Interests — 5,000 29,601 33,195 Cancellation of Class B common stock Shares of Class B common stock surrendered and canceled — 5,000 29,601 33,195

EQUITY-BASED COMPENSATION

EQUITY-BASED COMPENSATION	9 Months Ended
	Sep. 29, 2021
Share-based Payment Arrangement [Abstract]
EQUITY-BASED COMPENSATION	EQUITY-BASED COMPENSATION A summary of equity-based compensation expense recognized during the thirteen and thirty-nine weeks ended September 29, 2021 and September 23, 2020 is as follows: Thirteen Weeks Ended Thirty-Nine Weeks Ended September 29 September 23 September 29 September 23 Stock options $ — $ 14 $ 3 $ 301 Performance stock units 868 233 2,065 1,009 Restricted stock units 1,456 1,092 3,895 2,748 Equity-based compensation expense $ 2,324 $ 1,339 $ 5,963 $ 4,058 Total income tax benefit recognized related to equity-based compensation $ 44 $ 60 $ 174 $ 135 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 and thirty-nine weeks ended September 29, 2021 and September 23, 2020 as follows: Thirteen Weeks Ended Thirty-Nine Weeks Ended September 29 September 23 September 29 September 23 General and administrative expenses $ 2,094 $ 1,199 $ 5,358 $ 3,681 Labor and related expenses 230 140 605 377 Equity-based compensation expense $ 2,324 $ 1,339 $ 5,963 $ 4,058

INCOME TAXES

INCOME TAXES	9 Months Ended
	Sep. 29, 2021
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES Shake Shack is the sole managing member of SSE Holdings and, as a result, consolidates 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 the Company, on a pro rata basis. The Company is subject to U.S. federal income taxes, in addition to state and local income taxes with respect to its 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. The Company is also subject to withholding taxes in foreign jurisdictions. The effective income tax rates for the thirteen weeks ended September 29, 2021 and September 23, 2020 were 19.3% and 11.5%, respectively. The increase was primarily driven by higher tax credits and a decrease in pre-tax loss. Additionally, an increase in the Company's ownership interest in SSE Holdings increases its share of the taxable income (loss) of SSE Holdings. The weighted-average ownership interest in SSE Holdings was 93.1% and 92.5% for the thirteen weeks ended September 29, 2021 and September 23, 2020, respectively. The effective income tax rates for the thirty-nine weeks ended September 29, 2021 and September 23, 2020 were 102.3% and 21.2%, respectively. The increase was primarily driven by a decrease in the pre-tax book loss, causing tax credits and windfall tax benefits related to equity-based compensation to have an increasing effect on the tax rate, as well as a reduction of a valuation allowance. The Company's weighted-average ownership interest in SSE Holdings was 93.0% and 92.1% for the thirty-nine weeks ended September 29, 2021 and September 23, 2020, respectively. Deferred Tax Assets and Liabilities During the thirty-nine weeks ended September 29, 2021, the Company acquired an aggregate of 421,589 LLC Interests in connection with the redemption of LLC Interests, and activity relating to its stock compensation plan. The Company recognized a deferred tax asset in the amount of $10,190 associated with the basis difference in its investment in SSE Holdings upon acquisition of these LLC Interests. As of September 29, 2021, the total deferred tax asset related to the basis difference in the Company's investment in SSE Holdings was $131,232. However, a portion of the total basis difference will only reverse upon the eventual sale of its interest in SSE Holdings, which the Company expects would result in a capital loss. As of September 29, 2021, the total valuation allowance established against the deferred tax asset to which this portion relates was $980. During the thirty-nine weeks ended September 29, 2021, the Company also recognized $300 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. Refer to "Tax Receivable Agreement," herein for additional information. The Company evaluates the realizability of its deferred tax assets on a quarterly basis and establishes valuation allowances when it is more likely than not that all or a portion of a deferred tax asset may not be realized. As of September 29, 2021, the Company concluded, based on the weight of all available positive and negative evidence, that all of its deferred tax assets (except for those deferred tax assets described above relating to basis differences that are expected to result in a capital loss upon eventual sale of its interest in SSE Holdings, New York City UBT credits and certain foreign tax credits) are more likely than not to be realized. As such, no additional valuation allowance was recognized. Tax Receivable Agreement Pursuant to the Company's election under Section 754 of the Internal Revenue Code (the "Code"), the Company expects to obtain an increase in its 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. The Company plans to make an election under Section 754 of the Code for each taxable year in which a redemption or exchange of LLC Interest occurs. The Company intends 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 would otherwise be paid 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, the Company 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 the Company of 85% of the amount of any tax benefits that are actually realized, or in some cases are deemed to realize, as a result of (i) increases in the Company's 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"). The Company expects to benefit from the remaining 15% of any tax benefits that may actually realize. The TRA Payments are not conditioned upon any continued ownership interest in SSE Holdings or the Company. The rights of each member of SSE Holdings that is a party to the Tax Receivable Agreement, are assignable to transferees of their respective LLC Interests. During the thirty-nine weeks ended September 29, 2021, the Company acquired an aggregate of 29,601 LLC Interests in connection with the redemption of LLC Interests, which resulted in an increase in the tax basis of its investment in SSE Holdings subject to the provisions of the Tax Receivable Agreement. The Company recognized an additional liability in the amount of $1,093 for the TRA Payments due to the redeeming members, representing 85% of the aggregate tax benefits the Company expects 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 estimates of future taxable income. During the thirty-nine weeks ended September 29, 2021, the Company made no payments to the parties to the Tax Receivable Agreement. During the thirty-nine weeks ended September 23, 2020, payments of $6,643, inclusive of interest, were made to the parties to the Tax Receivable Agreement. As of September 29, 2021, the total amount of TRA Payments due under the Tax Receivable Agreement, was $234,048. Refer to Note 13, Commitments and Contingencies, for additional information relating to the liabilities under the Tax Receivable Agreement.

EARNINGS PER SHARE

EARNINGS PER SHARE	9 Months Ended
	Sep. 29, 2021
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS (LOSS) PER SHAREThe 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 (in thousands, except per share amounts) for the thirteen and thirty-nine weeks ended September 29, 2021 and September 23, 2020. Thirteen Weeks Ended Thirty-Nine Weeks Ended September 29 September 23 September 29 September 23 Numerator: Net income (loss) attributable to Shake Shack Inc.—basic $ (2,178) $ (5,559) $ 1,075 $ (22,730) Reallocation of net income (loss) attributable to non-controlling interests from the assumed conversion of Class B shares — — (837) — Net income (loss) attributable to Shake Shack Inc.—diluted $ (2,178) $ (5,559) $ 238 $ (22,730) Denominator: Weighted-average shares of Class A common stock outstanding—basic 39,137 38,251 39,066 36,668 Effect of dilutive securities: Stock options — — 162 — Performance stock units — — 39 — Restricted stock units — — 124 — Convertible Notes — — 1,129 — Shares of Class B common stock — — 2,928 — Weighted-average shares of Class A common stock outstanding—diluted 39,137 38,251 43,448 36,668 Earnings (loss) per share of Class A common stock—basic $ (0.06) $ (0.15) $ 0.03 $ (0.62) Earnings (loss) per share of Class A common stock—diluted $ (0.06) $ (0.15) $ 0.01 $ (0.62) Shares of 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. However, shares of Class B common stock outstanding for the period are considered potentially dilutive shares of Class A common stock under application of the if-converted method and are included in the computation of diluted earnings (loss) per share, except when the effect would be antidilutive. 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 and thirty-nine weeks ended September 29, 2021 and September 23, 2020. Thirteen Weeks Ended Thirty-Nine Weeks Ended September 29 September 23 September 29 September 23 Stock options — 764,902 (2) — 764,902 (2) Performance stock units 45,707 (1) 139,081 (2) 45,707 (1) 139,081 (2) Restricted stock units — 262,232 (2) — 262,232 (2) Shares of Class B common stock — 3,112,002 (2) — 3,112,002 (2) (1) Number of securities outstanding at the end of the period that were excluded from the computation of diluted earnings (loss) per share of Class A common stock because the performance conditions associated with these awards were not met assuming the end of the reporting period was the end of the performance period. (2) Number of securities outstanding at the end of the period that were excluded from the computation of diluted earnings (loss) per share of Class A common stock because the effect would have been anti-dilutive.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Sep. 29, 2021
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Lease Commitments The Company is obligated under various operating leases for Shacks and the home office space, expiring in various years through 2038. Under certain of these leases, the Company is liable for contingent rent based on a percentage of sales in excess of specified thresholds and are typically responsible for its proportionate share of real estate taxes, common area maintenance costs and other occupancy costs. Refer to Note 7, Leases, for additional information. As security under the terms of one of the leases, the Company is obligated under a letter of credit totaling $130 as of September 29, 2021, which expires in February 2026. Additionally, in September 2017, the Company entered into a letter of credit in conjunction with the new home office lease in the amount of $603, which expires in August 2022 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. The Company also enters into long-term, exclusive contracts with certain vendors to supply food, beverages and paper goods, obligating the Company to purchase specified quantities. Legal Contingencies In March 2020, a claim was filed against Shake Shack alleging certain violations of the Fair Labor Standards Act. At a mediation between the parties, the Company agreed to settle the matter with the plaintiff and other employees who elect to participate in the settlement for $619. The Company initially accrued for this matter during the thirteen weeks ended March 31, 2021 with an additional accrual established during the thirteen weeks ended June 30, 2021, and paid in full as of September 29, 2021. The Company is subject to various legal proceedings, claims and liabilities, such as employment-related claims and slip and fall cases, which arise in the ordinary course of business and are generally covered by insurance. As of September 29, 2021, the amount of the ultimate liability with respect to these matters was not material. Liabilities under Tax Receivable Agreement

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	9 Months Ended
	Sep. 29, 2021
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONS Union Square Hospitality Group The Chairman of the 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. Hudson Yards Sports and Entertainment In fiscal 2011, Shake Shack 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 the Company a license fee based on a percentage of net food sales, as defined in the MLA. HYC also pays a percentage of profits on sales of branded beverages, as defined in the MLA. Thirteen Weeks Ended Thirty-Nine Weeks Ended Classification September 29 September 23 September 29 September 23 Amounts received from HYC Licensing revenue $ 185 $ 26 $ 243 $ 60 Classification September 29 December 30 Amounts due from HYC Accounts receivable, net $ — $ 8 Madison Square Park Conservancy The Chairman of the Board of Directors serves as a director of the Madison Square Park Conservancy ("MSP Conservancy"), with which Shake Shack has a license agreement and pays license fees to operate the Madison Square Park Shack. No amounts were due to MSP Conservancy as of both September 29, 2021 and December 30, 2020. Thirteen Weeks Ended Thirty-Nine Weeks Ended Classification September 29 September 23 September 29 September 23 Amounts paid to MSP Conservancy Occupancy and related expenses $ 215 $ 173 $ 646 $ 392 Olo, Inc. The Chairman of the Board of Directors serves as a director of Olo, Inc. (formerly known as "Mobo Systems, Inc."), a platform the Company uses in connection with its mobile ordering application. Thirteen Weeks Ended Thirty-Nine Weeks Ended Classification September 29 September 23 September 29 September 23 Amounts paid to Olo, Inc. Other operating expenses $ 130 $ 75 $ 340 $ 169 Classification September 29 December 30 Amounts due to Olo, Inc. Accounts payable $ 31 $ — Square, Inc. The Company's Chief Executive Officer is a member of the board of directors of Square, Inc. ("Square"). The Company currently uses 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 locations, sales for certain off-site events and in connection with its kiosk technology. Thirteen Weeks Ended Thirty-Nine Weeks Ended Classification September 29 September 23 September 29 September 23 Amounts paid to Square Other operating expenses $ 833 $ 419 $ 2,049 $ 1,208 Classification September 29 December 30 Amounts due to Square Accounts payable $ 18 $ — USHG Acquisition Corp. The Company's Chief Executive Officer has been appointed to the board of directors of USHG Acquisition Corp. in which the Company's Chairman of the Board of Directors serves as the chairman of the board of directors of USHG Acquisition Corp. USHG Acquisition Corp. is a newly organized blank check company incorporated for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities. No amounts were due to or due from USHG Acquisition Corp as of both September 29, 2021 and December 30, 2020. Tax Receivable Agreement The Company entered into a Tax Receivable Agreement that provides for the payment by the Company of 85% of the amount of any tax benefits that are actually realized, or in some cases are deemed to realize, as a result of certain transactions. Refer to Note 10, Income Taxes, for additional information. Thirteen Weeks Ended Thirty-Nine Weeks Ended Classification September 29 September 23 September 29 September 23 Amounts paid to members (inclusive of interest) Other current liabilities $ — $ — $ — $ 6,643 Classification September 29 December 30 Amounts due under the Tax Receivable Agreement Other current liabilities $ 234,048 $ 232,954 Distributions to Members of SSE Holdings Under the terms of the SSE Holdings LLC Agreement, SSE Holdings is obligated to make tax distributions to its members. No tax distributions were payable to non-controlling interest holders as of September 29, 2021 and December 30, 2020, respectively. Thirteen Weeks Ended Thirty-Nine Weeks Ended Classification September 29 September 23 September 29 September 23 Amounts paid to non-controlling interest holders Non-controlling interests $ 172 $ 164 $ 878 $ 478

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 29, 2021
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 its Annual Report on Form 10-K for the fiscal year ended December 30, 2020 ("2020 Form 10-K"). Certain information and footnote disclosures normally presented in annual financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. These interim condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes thereto included in its 2020 Form 10-K. In the Company's opinion, all adjustments, which are normal and recurring in nature, necessary for a fair presentation of the 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. SSE Holdings is considered a variable interest entity. Shake Shack Inc. is the primary beneficiary as the Company has the majority economic interest in SSE Holdings and, as the sole managing member, has 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, the Company consolidates SSE Holdings. The assets and liabilities of SSE Holdings represent substantially all of the Company's consolidated assets and liabilities with the exception of certain deferred taxes and liabilities under the Tax Receivable Agreement. As of September 29, 2021 and December 30, 2020, the net assets of SSE Holdings were $383,138 and $383,669, respectively. The assets of SSE Holdings are subject to certain restrictions in SSE Holdings' revolving credit agreement. Refer to Note 6, Debt, for additional information.
Fiscal Year	Fiscal Year The Company operates on a 52/53 week fiscal year ending on the last Wednesday in December. Fiscal 2021 contains 52 weeks and ends on December 29, 2021. Fiscal 2020 contained 53 weeks and ended on December 30, 2020. Unless otherwise stated, references to years in this report relate to fiscal years.
Use of Estimates	Use of EstimatesThe preparation of these condensed consolidated financial statements in conformity with GAAP requires management 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 The Company adopted the Accounting Standards Updates (“ASUs”) summarized below in fiscal 2021. Accounting Standards Update Description Date Simplifying the Accounting for Income Taxes (ASU 2019-12) This standard simplifies various aspects related to accounting for income taxes by removing certain exceptions to the general principles in ASC 740, “Income Taxes” (“ASC 740”), and clarifying certain aspects of the current guidance to promote consistency among reporting entities. The adoption of this standard did not have a material impact to the Company's condensed consolidated financial statements. December 31, 2020 Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity's Own (ASU 2020-06) This ASU amends the guidance on convertible instruments and the derivatives scope exception for contracts in an entity’s own equity and improves and amends the related earnings per share guidance for both Subtopics. The Company elected to early adopt this standard, beginning December 31, 2020. The guidance of this ASU is applicable to the convertible notes issued in March 2021. As a result, the convertible notes are accounted for as a single liability measured at amortized cost. The if-converted earnings per share ("EPS") method is used, with the effect of potential share settlement included in diluted EPS. Refer to Note 6, Debt, and Note 11, Earnings Per Share, for additional information. December 31, 2020

REVENUE (Tables)

REVENUE (Tables)	9 Months Ended
	Sep. 29, 2021
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue	Revenue recognized during the thirteen and thirty-nine weeks ended September 29, 2021 and September 23, 2020, disaggregated by type is as follows: Thirteen Weeks Ended Thirty-Nine Weeks Ended September 29 September 23 September 29 September 23 Shack sales $ 186,972 $ 126,288 $ 519,110 $ 353,855 Licensing revenue: Sales-based royalties 6,711 3,867 16,961 10,943 Initial territory and opening fees 212 246 566 559 Total revenue $ 193,895 $ 130,401 $ 536,637 $ 365,357
Schedule of Contract with Customer, Asset and Liability	Opening and closing balances of contract liabilities and receivables from contracts with customers is as follows: September 29 December 31 Shack sales receivables $ 5,612 $ 5,373 Licensing receivables, net of allowance for doubtful accounts 3,874 2,647 Gift card liability 2,656 2,637 Deferred revenue, current 759 608 Deferred revenue, long-term 12,745 12,151 Revenue recognized during the thirteen and thirty-nine weeks ended September 29, 2021 and September 23, 2020 that was included in their respective liability balances at the beginning of the period is as follows: Thirteen Weeks Ended Thirty-Nine Weeks Ended September 29 September 23 September 29 September 23 Gift card liability $ 73 $ 91 $ 400 $ 436 Deferred revenue 203 234 543 539

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	9 Months Ended
	Sep. 29, 2021
Fair Value Disclosures [Abstract]
Schedule of Assets Measured On A Recurring Basis	Assets measured at fair value on a recurring basis as of September 29, 2021 and December 30, 2020 were as follows: Fair Value Measurements September 29 December 30 Level 1 Level 1 Equity securities: Mutual funds $ 80,082 $ 36,887 Total Marketable securities $ 80,082 $ 36,887

SUPPLEMENTAL BALANCE SHEET IN_2

SUPPLEMENTAL BALANCE SHEET INFORMATION (Tables)	9 Months Ended
	Sep. 29, 2021
Supplemental Balance Sheet Disclosures [Abstract]
Supplemental Balance Sheet Information	The components of Other current liabilities as of September 29, 2021 and December 30, 2020 are as follows: September 29 December 30 Sales tax payable $ 4,230 $ 4,285 Gift card liability 2,656 2,637 Current portion of financing equipment lease liabilities 2,553 1,998 Other 3,834 5,280 Other current liabilities $ 13,273 $ 14,200 The components of Other long-term liabilities as of September 29, 2021 and December 30, 2020 are as follows: September 29 December 30 Deferred licensing revenue $ 12,745 $ 12,151 Long-term portion of financing equipment lease liabilities 3,977 3,586 Other (1) 6,028 8,723 Other long-term liabilities $ 22,750 $ 24,460

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 29, 2021
Leases [Abstract]
Lease, Cost	A summary of finance and operating lease right-of-use assets and liabilities as of September 29, 2021 and December 30, 2020 is as follows: Classification September 29 December 30 Finance leases Property and equipment, net $ 6,328 $ 5,409 Operating leases Operating lease assets 338,886 306,317 Total right-of-use assets $ 345,214 $ 311,726 Finance leases: Other current liabilities $ 2,553 $ 1,998 Other long-term liabilities 3,977 3,586 Operating leases: Operating lease liabilities, current 38,811 35,657 Long-term operating lease liabilities 378,686 343,736 Total lease liabilities $ 424,027 $ 384,977 The components of lease expense for the thirteen and thirty-nine weeks ended September 29, 2021 and September 23, 2020 was as follows: Thirteen Weeks Ended Thirty-Nine Weeks Ended Classification September 29 September 23 September 29 September 23 Finance lease cost: Amortization of right-of-use assets Depreciation and amortization expense $ 715 $ 531 $ 2,003 $ 1,710 Interest on lease liabilities Interest expense 47 51 158 161 Operating lease cost Occupancy and related expenses 12,497 11,506 37,213 33,726 Short-term lease cost Occupancy and related expenses 79 138 228 331 Variable lease cost Occupancy and related expenses 3,347 3,267 9,556 9,413 Total lease cost $ 16,685 $ 15,493 $ 49,158 $ 45,341 September 29 December 30 Weighted-average remaining lease term (years): Finance leases 5.3 5.2 Operating leases 9.5 9.7 Weighted-average discount rate: Finance leases 3.1 % 3.6 % Operating leases 3.5 % 4.2 % Supplemental cash flow information related to leases for the thirty-nine weeks ended September 29, 2021 and September 23, 2020 is as follows: Thirty-Nine Weeks Ended September 29 September 23 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from finance leases $ 158 $ 161 Operating cash flows from operating leases 35,703 29,449 Financing cash flows from finance leases 1,982 1,670 Right-of-use assets obtained in exchange for lease obligations: Finance leases 2,922 1,411 Operating leases 52,747 42,502
Lessee, Operating Lease, Liability, Maturity	As of September 29, 2021, future minimum lease payments for finance and operating leases consisted of the following: Finance Leases Operating Leases 2021 $ 743 $ 10,232 2022 2,560 50,556 2023 1,671 61,009 2024 927 60,907 2025 574 59,962 Thereafter 449 294,310 Total minimum payments 6,924 536,976 Less: imputed interest 395 119,479 Total lease liabilities $ 6,529 $ 417,497
Finance Lease, Liability, Maturity	As of September 29, 2021, future minimum lease payments for finance and operating leases consisted of the following: Finance Leases Operating Leases 2021 $ 743 $ 10,232 2022 2,560 50,556 2023 1,671 61,009 2024 927 60,907 2025 574 59,962 Thereafter 449 294,310 Total minimum payments 6,924 536,976 Less: imputed interest 395 119,479 Total lease liabilities $ 6,529 $ 417,497

NON-CONTROLLING INTERESTS (Tabl

NON-CONTROLLING INTERESTS (Tables)	9 Months Ended
	Sep. 29, 2021
Noncontrolling Interest [Abstract]
Schedule of Ownership Interests in SSE Holdings	The following table summarizes the ownership interest in SSE Holdings as of September 29, 2021 and December 30, 2020. September 29, 2021 December 30, 2020 LLC Interests Ownership % LLC Interests Ownership % Number of LLC Interests held by Shake Shack Inc. 39,139,379 93.1 % 38,717,790 92.9 % Number of LLC Interests held by non-controlling interest holders 2,921,587 6.9 % 2,951,188 7.1 % Total LLC Interests outstanding 42,060,966 100.0 % 41,668,978 100.0 %
Schedule of Non-Controlling Interest	The following table summarizes the effects of changes in ownership of SSE Holdings on the Company's equity during the thirteen and thirty-nine weeks ended September 29, 2021 and September 23, 2020. Thirteen Weeks Ended Thirty-Nine Weeks Ended September 29 September 23 September 29 September 23 Net income (loss) attributable to Shake Shack Inc. $ (2,178) $ (5,559) $ 1,075 $ (22,730) Other comprehensive income: Increase in additional paid-in capital as a result of the redemption of LLC Interests — 44 33 239 Increase (decrease) in additional paid-in capital as a result of activity under stock compensation plans and the related income tax effects (386) 367 2,186 627 Increase in additional paid-in capital as a result of the issuance of Class A common stock sold in equity offerings — — — 135,718 Total effect of changes in ownership interest on equity (loss) attributable to Shake Shack Inc. $ (2,564) $ (5,148) $ 3,294 $ 113,854
Redemption of LLC Interests	The following table summarizes redemptions of LLC Interests activity during the thirteen and thirty-nine weeks ended September 29, 2021 and September 23, 2020. Thirteen Weeks Ended Thirty-Nine Weeks Ended September 29 September 23 September 29 September 23 Redemption and acquisition of LLC Interests Number of LLC Interests redeemed by non-controlling interest holders — 5,000 29,601 33,195 Number of LLC Interests received by Shake Shack Inc. — 5,000 29,601 33,195 Issuance of Class A common stock Shares of Class A common stock issued in connection with redemptions of LLC Interests — 5,000 29,601 33,195 Cancellation of Class B common stock Shares of Class B common stock surrendered and canceled — 5,000 29,601 33,195

EQUITY-BASED COMPENSATION (Tabl

EQUITY-BASED COMPENSATION (Tables)	9 Months Ended
	Sep. 29, 2021
Share-based Payment Arrangement [Abstract]
Schedule of Equity-Based Compensation Expense Recognized	A summary of equity-based compensation expense recognized during the thirteen and thirty-nine weeks ended September 29, 2021 and September 23, 2020 is as follows: Thirteen Weeks Ended Thirty-Nine Weeks Ended September 29 September 23 September 29 September 23 Stock options $ — $ 14 $ 3 $ 301 Performance stock units 868 233 2,065 1,009 Restricted stock units 1,456 1,092 3,895 2,748 Equity-based compensation expense $ 2,324 $ 1,339 $ 5,963 $ 4,058 Total income tax benefit recognized related to equity-based compensation $ 44 $ 60 $ 174 $ 135 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 and thirty-nine weeks ended September 29, 2021 and September 23, 2020 as follows: Thirteen Weeks Ended Thirty-Nine Weeks Ended September 29 September 23 September 29 September 23 General and administrative expenses $ 2,094 $ 1,199 $ 5,358 $ 3,681 Labor and related expenses 230 140 605 377 Equity-based compensation expense $ 2,324 $ 1,339 $ 5,963 $ 4,058

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	9 Months Ended
	Sep. 29, 2021
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 (in thousands, except per share amounts) for the thirteen and thirty-nine weeks ended September 29, 2021 and September 23, 2020. Thirteen Weeks Ended Thirty-Nine Weeks Ended September 29 September 23 September 29 September 23 Numerator: Net income (loss) attributable to Shake Shack Inc.—basic $ (2,178) $ (5,559) $ 1,075 $ (22,730) Reallocation of net income (loss) attributable to non-controlling interests from the assumed conversion of Class B shares — — (837) — Net income (loss) attributable to Shake Shack Inc.—diluted $ (2,178) $ (5,559) $ 238 $ (22,730) Denominator: Weighted-average shares of Class A common stock outstanding—basic 39,137 38,251 39,066 36,668 Effect of dilutive securities: Stock options — — 162 — Performance stock units — — 39 — Restricted stock units — — 124 — Convertible Notes — — 1,129 — Shares of Class B common stock — — 2,928 — Weighted-average shares of Class A common stock outstanding—diluted 39,137 38,251 43,448 36,668 Earnings (loss) per share of Class A common stock—basic $ (0.06) $ (0.15) $ 0.03 $ (0.62) Earnings (loss) per share of Class A common stock—diluted $ (0.06) $ (0.15) $ 0.01 $ (0.62) 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 and thirty-nine weeks ended September 29, 2021 and September 23, 2020. Thirteen Weeks Ended Thirty-Nine Weeks Ended September 29 September 23 September 29 September 23 Stock options — 764,902 (2) — 764,902 (2) Performance stock units 45,707 (1) 139,081 (2) 45,707 (1) 139,081 (2) Restricted stock units — 262,232 (2) — 262,232 (2) Shares of Class B common stock — 3,112,002 (2) — 3,112,002 (2) (1) Number of securities outstanding at the end of the period that were excluded from the computation of diluted earnings (loss) per share of Class A common stock because the performance conditions associated with these awards were not met assuming the end of the reporting period was the end of the performance period. (2) Number of securities outstanding at the end of the period that were excluded from the computation of diluted earnings (loss) per share of Class A common stock because the effect would have been anti-dilutive.

NATURE OF OPERATIONS (Details)

NATURE OF OPERATIONS (Details)	Sep. 29, 2021RestaurantShack
Class of Stock [Line Items]
Number of restaurants	350
Company-operated
Class of Stock [Line Items]
Number of Shacks closed | Shack	2
Licensed
Class of Stock [Line Items]
Number of Shacks closed | Shack	7
United States | Company-operated
Class of Stock [Line Items]
Number of restaurants	205
United States | Licensed
Class of Stock [Line Items]
Number of restaurants	24
Non-United States | Licensed
Class of Stock [Line Items]
Number of restaurants	121

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($) $ in Thousands	Sep. 29, 2021	Dec. 30, 2020
Variable Interest Entity [Line Items]
Net assets held by SSE holders	$ 1,440,302	$ 1,145,348
Variable Interest Entity, Primary Beneficiary
Variable Interest Entity [Line Items]
Net assets held by SSE holders	$ 383,138	$ 383,669

REVENUE - Narrative (Details)

REVENUE - Narrative (Details) - USD ($) $ in Thousands	Sep. 29, 2021	Dec. 30, 2020
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Other long-term liabilities	$ 22,750	$ 24,460
Other current liabilities	13,273	$ 14,200
Revenue, remaining performance obligation	$ 17,821
Minimum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
License term	5 years
Maximum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
License term	20 years

REVENUE - Schedule of Revenue R

REVENUE - Schedule of Revenue Recognized (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 29, 2021	Sep. 23, 2020	Sep. 29, 2021	Sep. 23, 2020
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	$ 193,895	$ 130,401	$ 536,637	$ 365,357

REVENUE - Schedule of Disaggreg

REVENUE - Schedule of Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 29, 2021	Sep. 23, 2020	Sep. 29, 2021	Sep. 23, 2020
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	$ 193,895	$ 130,401	$ 536,637	$ 365,357
Shack Sales [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	186,972	126,288	519,110	353,855
Sales-Based Royalties [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	6,711	3,867	16,961	10,943
Initial territory and opening fees
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	$ 212	$ 246	$ 566	$ 559

REVENUE - Schedule of Respectiv

REVENUE - Schedule of Respective Liability Balances (Details) - USD ($) $ in Thousands	Sep. 29, 2021	Dec. 30, 2020
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Gift card liability	$ 2,656	$ 2,637
Deferred revenue, current	759	608
Deferred revenue, long-term	12,745	12,151
Shack Sales [Member]
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Contract with customer, asset, net	5,612	5,373
Licensing receivables, net of allowance for doubtful accounts
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Contract with customer, asset, net	$ 3,874	$ 2,647

REVENUE - Liability Balance (De

REVENUE - Liability Balance (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 29, 2021	Sep. 23, 2020	Sep. 29, 2021	Sep. 23, 2020
Revenue from Contract with Customer [Abstract]
Gift card liability	$ 73	$ 91	$ 400	$ 436
Deferred revenue	$ 203	$ 234	$ 543	$ 539

FAIR VALUE MEASUREMENTS - Asset

FAIR VALUE MEASUREMENTS - Assets Measured On a Recurring Basis (Details) - USD ($) $ in Thousands	Sep. 29, 2021	Dec. 30, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	$ 80,082	$ 36,887
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	80,082	36,887
Level 1 | Mutual Fund [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	$ 80,082	$ 36,887

FAIR VALUE MEASUREMENTS - Addit

FAIR VALUE MEASUREMENTS - Additional Information (Details)	3 Months Ended
	Sep. 23, 2020USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset impairment charges	$ 1,132,000
Property, Plant and Equipment
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset impairment charges	736
Operating Lease, Right-of-Use Assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset impairment charges	383
Finance Lease, Right-of-Use Assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset impairment charges	$ 13

FAIR VALUE MEASUREMENTS - Other

FAIR VALUE MEASUREMENTS - Other Income From Available For Sale Securities (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 29, 2021	Sep. 23, 2020	Sep. 29, 2021	Sep. 23, 2020
Available-for-sale securities
Unrealized gain (loss) on equity securities			$ (117)	$ (22)
Total	$ 18	$ 34	157	335
Available-for-sale Securities
Available-for-sale securities
Dividend income	56	40	223	290
Realized gain (loss) on sale of investments	0	0	(5)	79
Unrealized gain (loss) on equity securities	(80)	0	(117)	(22)
Total	$ (24)	$ 40	$ 101	$ 347

SUPPLEMENTAL BALANCE SHEET IN_3

SUPPLEMENTAL BALANCE SHEET INFORMATION (Details) - USD ($) $ in Thousands	Sep. 29, 2021	Dec. 30, 2020
Supplemental Balance Sheet Disclosures [Abstract]
Finance Lease, Liability, Current	$ 2,553	$ 1,998
Other Liabilities, Current
Sales tax payable	4,230	4,285
Gift card liability	2,656	2,637
Other	3,834	5,280
Other current liabilities	$ 13,273	$ 14,200

SUPPLEMENTAL BALANCE SHEET IN_4

SUPPLEMENTAL BALANCE SHEET INFORMATION Other long-term liabilities (Details) - USD ($) $ in Thousands	Sep. 29, 2021	Dec. 30, 2020
Other Liabilities Disclosure [Abstract]
Contract with Customer, Liability, Noncurrent	$ 12,745	$ 12,151
Finance Lease, Liability, Noncurrent	3,977	3,586
Other Sundry Liabilities, Noncurrent	6,028	8,723
Other Liabilities, Noncurrent	22,750	24,460
Deferred lease incentive liabilities	3,142	3,182
Deferred social security taxes	$ 2,607	$ 5,214

DEBT (Details)

DEBT (Details) - USD ($)	Feb. 04, 2015	Mar. 31, 2021	May 31, 2020	Mar. 31, 2020	Sep. 29, 2021	Sep. 23, 2020	Sep. 29, 2021	Sep. 23, 2020	Dec. 30, 2020
Debt Instrument [Line Items]
Proceeds from revolving credit facility							$ 0	$ 50,000,000
Notes payable					$ 243,280,000		243,280,000		$ 0
Interest costs incurred					$ 37,000	$ 143,000	442,000	697,000
Payments of Financing Costs							$ 123,000	$ 64,000
0% Convertible Senior Notes | Private Placement
Debt Instrument [Line Items]
Conversion rate		5,867.9000
Class A Common Stock
Debt Instrument [Line Items]
Common stock par value (in dollars per share)					$ 0.001		$ 0.001		$ 0.001
Revolving Credit Facility
Debt Instrument [Line Items]
Payments of Financing Costs							$ 86,000
Notes payable
Debt Instrument [Line Items]
Proceeds from revolving credit facility				$ 50,000,000
Notes payable					$ 50,000,000		50,000,000
Revolving Credit Facility | Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity					50,000,000		50,000,000
Line of Credit Facility, Incremental Borrowing Capacity					100,000,000		100,000,000
Third Amendment and Restated Credit Arrangement | Line of credit
Debt Instrument [Line Items]
Term to maturity	5 years
Third Amendment and Restated Credit Arrangement | Letter of credit | Line of credit
Debt Instrument [Line Items]
Maximum borrowing capacity					$ 15,000,000		$ 15,000,000
First Amendment to the Credit Agreement | Line of credit
Debt Instrument [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)
Debt Instrument [Line Items]
Basis spread on variable rate			1.00%
First Amendment to the Credit Agreement | Minimum | Line of credit | Prime rate
Debt Instrument [Line Items]
Basis spread on variable rate			0.00%
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%
First Amendment to the Credit Agreement | Maximum | Line of credit | Prime rate
Debt Instrument [Line Items]
Basis spread on variable rate			1.50%

DEBT - Convertible Notes (Detai

DEBT - Convertible Notes (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	9 Months Ended
	Mar. 31, 2021	Sep. 29, 2021	Sep. 23, 2020	Dec. 30, 2020
Debt Instrument [Line Items]
Stock issued during period		$ 0	$ 144,997
Amortization of debt issuance costs		605	$ 0
Convertible Debt, Fair Value Disclosures		215,898
0% Convertible Senior Notes
Debt Instrument [Line Items]
Stock issued during period	$ 225,000
0% Convertible Senior Notes | Private Placement
Debt Instrument [Line Items]
Stock issued during period	$ 250,000
Conversion rate	5,867.9000
Conversion of stock, price per share	$ 170,420
Stock Issued During Period, Value, Net Of Debt Issuance Costs	$ 243,280
Debt issuance costs	6,720
Amortization of debt issuance costs		$ 605
0% Convertible Senior Notes | Over-Allotment Option
Debt Instrument [Line Items]
Stock issued during period	$ 25,000
Class A Common Stock
Debt Instrument [Line Items]
Common stock par value (in dollars per share)		$ 0.001		$ 0.001

Lease Narrative (Details)

Lease Narrative (Details)	9 Months Ended
	Sep. 29, 2021option
Operating Leased Assets [Line Items]
Number of renewal options	2
Renewal term	5 years
Minimum
Operating Leased Assets [Line Items]
Term of contract	10 years
Maximum
Operating Leased Assets [Line Items]
Term of contract	15 years

Lease Cost (Details)

Lease Cost (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 29, 2021	Sep. 23, 2020	Sep. 29, 2021	Sep. 23, 2020	Dec. 30, 2020
Leases [Abstract]
Finance leases	$ 6,328	$ 5,409	$ 6,328	$ 5,409
Operating leases	338,886	306,317	338,886	306,317	$ 306,317
Total right-of-use assets	345,214	311,726	345,214	311,726
Other current liabilities, finance leases	2,553	1,998	2,553	1,998
Other long-term liabilities, finance leases	3,977	3,586	3,977	3,586
Operating lease liabilities, current	38,811	35,657	38,811	35,657	35,657
Long-term operating lease liabilities	378,686	343,736	378,686	343,736	$ 343,736
Finance leases	6,529		6,529
Operating leases	417,497		417,497
Total lease liabilities	424,027	384,977	424,027	384,977
Finance lease cost:
Amortization of right-of-use assets	715	531	2,003	1,710
Interest on lease liabilities	47	51	158	161
Operating lease cost	12,497	11,506	37,213	33,726
Short-term lease cost	79	138	228	331
Variable lease cost	3,347	3,267	9,556	9,413
Total lease cost	$ 16,685	15,493	$ 49,158	$ 45,341
Weighted Average Lease Term [Abstract]
Finance leases	5 years 3 months 18 days		5 years 3 months 18 days		5 years 2 months 12 days
Operating leases	9 years 6 months		9 years 6 months		9 years 8 months 12 days
Weighted Average Discount Rate [Abstract]
Finance leases	3.10%		3.10%		3.60%
Operating leases	3.50%		3.50%		4.20%
Operating cash flows from finance leases	$ 158	161
Operating cash flows from operating leases	35,703	29,449
Financing cash flows from finance leases	1,982	1,670
Finance leases	2,922	1,411
Operating leases	$ 52,747	$ 42,502

Lease Maturity (Details)

Lease Maturity (Details) $ in Thousands	Sep. 29, 2021USD ($)
Leases [Abstract]
Operating lease for non-cancellable leases	$ 50,967
Finance Lease, Liability, Payment, Due [Abstract]
2022	2,560
2023	1,671
2024	927
2025	574
Thereafter	449
Total minimum payments	6,924
Less: imputed interest	395
Total lease liabilities	6,529
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
2022	50,556
2023	61,009
2024	60,907
2025	59,962
Thereafter	294,310
Total minimum payments	536,976
Less: imputed interest	119,479
Total lease liabilities	417,497
Finance Lease, Liability, to be Paid, Year One	743
Lessee, Operating Lease, Liability, to be Paid, Year One	$ 10,232

NON-CONTROLLING INTERESTS - Own

NON-CONTROLLING INTERESTS - Ownership Interest in SSE Holdings (Details) - shares	Sep. 29, 2021	Dec. 30, 2020
Noncontrolling Interest [Line Items]
Number of LLC Interests held by Shake Shack Inc. (in shares)	39,139,379	38,717,790
Number of LLC Interests held by non-controlling interest holders (in shares)	2,921,587	2,951,188
Total LLC Interests outstanding (in shares)	42,060,966	41,668,978
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)	93.10%	92.90%
Non-Controlling Interest Holders
Noncontrolling Interest [Line Items]
Number of LLC Interests held by non-controlling interest holders (as a percentage)	6.90%	7.10%

NON-CONTROLLING INTERESTS - Nar

NON-CONTROLLING INTERESTS - Narrative (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 29, 2021	Sep. 23, 2020	Sep. 29, 2021	Sep. 23, 2020
Noncontrolling Interest [Line Items]
Non-controlling interest holders' weighted average ownership percentage	6.90%	7.50%	7.00%	7.90%
Employee Stock Option
Noncontrolling Interest [Line Items]
Units acquired during the period (in shares)	5,023	38,564	391,988	180,068

NON-CONTROLLING INTERESTS - Cha

NON-CONTROLLING INTERESTS - Changes in Ownership Interests in SSE Holdings (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 29, 2021	Sep. 23, 2020	Sep. 29, 2021	Sep. 23, 2020
Noncontrolling Interest [Line Items]
Net income (loss) attributable to Shake Shack Inc.	$ (2,178)	$ (5,559)	$ 1,075	$ (22,730)
Other comprehensive income:
Unrealized holding gains on equity securities	(1)	0	(2)	1
Transfers (to) from non-controlling interests
Total effect of changes in ownership interest on equity (loss) attributable to Shake Shack Inc.	(2,564)	(5,148)	3,294	113,854
Redemption or Exchange of Units
Transfers (to) from non-controlling interests
Increase (decrease) in additional paid-in capital	0	44	33	239
Employee Stock Option
Transfers (to) from non-controlling interests
Increase (decrease) in additional paid-in capital	(386)	367	2,186	627
Common Stock [Member] | Class A Common Stock
Transfers (to) from non-controlling interests
Increase (decrease) in additional paid-in capital	$ 0	$ 0	$ 0	$ 135,718

NON-CONTROLLING INTERESTS NON-C

NON-CONTROLLING INTERESTS NON-CONTROLLING INTERESTS - Redemption of LLC Interests (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 29, 2021	Sep. 23, 2020	Sep. 29, 2021	Sep. 23, 2020
Limited Liability Company
Class of Stock [Line Items]
Number of units redeemed (in shares)	0	5,000	29,601	33,195
Redemptions by NCI Holders | Limited Liability Company
Class of Stock [Line Items]
Number of units redeemed (in shares)	0	5,000	29,601	33,195
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	0	5,000	29,601	33,195
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	0	(5,000)	(29,601)	(33,195)
Shares of Class B common stock surrendered and canceled	0	5,000	29,601	33,195

EQUITY-BASED COMPENSATION - Sch

EQUITY-BASED COMPENSATION - Schedule of compensation expense recognized (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 29, 2021	Sep. 23, 2020	Sep. 29, 2021	Sep. 23, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation expense	$ 2,324	$ 1,339	$ 5,963	$ 4,058
Total income tax benefit recognized related to equity-based compensation	44	60	174	135
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation expense	0	14	3	301
Performance stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation expense	868	233	2,065	1,009
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation expense	1,456	1,092	3,895	2,748
General and Administrative Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation expense	2,094	1,199	5,358	3,681
Labor And Related Expenses [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation expense	$ 230	$ 140	$ 605	$ 377

INCOME TAXES - Narrative (Detai

INCOME TAXES - Narrative (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 29, 2021	Sep. 23, 2020	Sep. 29, 2021	Sep. 23, 2020	Dec. 30, 2020
Income Tax Contingency [Line Items]
Effective income tax rate reconciliation (in percentage)	19.30%	11.50%	102.30%	21.20%
Ownership percentage, weighted average	93.10%	92.50%	93.00%	92.10%
Deferred tax asset recognized as a result of investment in partnership			$ 10,190,000
Deferred tax asset related to additional tax basis			300,000
Deferred tax assets, valuation allowance	$ 980		$ 980
Percentage of tax benefits due to equity owners	85.00%		85.00%
Percentage of tax benefits expected to be realized	15.00%		15.00%
Consolidated Entity, Ownership By Parent, LLC Units Acquired			29,601
Establishment of liabilities under tax receivable agreement		$ 414,000	$ 1,093,000
Tax receivable agreement payments to related parties	$ 0	$ 0	0	$ 6,643,000
Liabilities under tax receivable agreement	234,048,000		234,048,000		$ 232,954,000
Foreign Tax Credit
Income Tax Contingency [Line Items]
Deferred tax assets, valuation allowance	0		$ 0
Limited Liability Company
Income Tax Contingency [Line Items]
Units acquired during the period (in shares)			421,589
Deferred tax asset, investment in partnership	$ 131,232,000		$ 131,232,000

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		9 Months Ended
	Sep. 29, 2021	Sep. 23, 2020	Sep. 29, 2021	Sep. 23, 2020
Numerator:
Net income (loss) attributable to Shake Shack Inc.—basic	$ (2,178)	$ (5,559)	$ 1,075	$ (22,730)
Reallocation of net income (loss) attributable to non-controlling interests from the assumed conversion of Class B shares	(224)	(551)		(2,490)
Net income (loss) attributable to Shake Shack Inc.—diluted	$ (2,178)	$ (5,559)	$ 238	$ (22,730)
Denominator:
Weighted-average shares of Class A common stock outstanding—basic (in shares)	39,137	38,251	39,066	36,668
Effect of dilutive securities:
Weighted-average shares of Class A common stock outstanding—diluted (in shares)	39,137	38,251	43,448	36,668
Earnings per share of Class A common stock—basic (in dollars per share)	$ (0.06)	$ (0.15)	$ 0.03	$ (0.62)
Earnings per share of Class A common stock—diluted (in dollars per share)	$ (0.06)	$ (0.15)	$ 0.01	$ (0.62)
Performance stock units
Effect of dilutive securities:
Stock options (in shares)	0	0	39	0
Restricted stock units
Effect of dilutive securities:
Stock options (in shares)	0	0	124	0
Convertible Notes
Effect of dilutive securities:
Stock options (in shares)	0	0	1,129	0
Class B Common Stock
Numerator:
Reallocation of net income (loss) attributable to non-controlling interests from the assumed conversion of Class B shares	$ 0	$ 0	$ (837)	$ 0
Effect of dilutive securities:
Stock options (in shares)	0	0	2,928	0
Stock options
Effect of dilutive securities:
Stock options (in shares)	0	0	162	0

EARNINGS PER SHARE - Antidiluti

EARNINGS PER SHARE - Antidilutive Securities (Details) - Common Stock [Member] - shares	3 Months Ended		9 Months Ended
	Sep. 29, 2021	Sep. 23, 2020	Sep. 29, 2021	Sep. 23, 2020
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive shares (in shares)	0	764,902	0	764,902
Performance stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive shares (in shares)	45,707	139,081	45,707	139,081
Restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive shares (in shares)			0	262,232
Shares of Class B common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive shares (in shares)	0	3,112,002	0	3,112,002

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) - USD ($)	1 Months Ended	3 Months Ended	9 Months Ended
	Mar. 31, 2020	Sep. 23, 2020	Sep. 29, 2021	Dec. 30, 2020	Sep. 30, 2017
Loss Contingencies [Line Items]
Litigation Settlement, Expense	$ 619
Percentage of tax benefits due to equity owners			85.00%
Establishment of liabilities under tax receivable agreement		$ 414,000	$ 1,093,000
Tax receivable agreement liability			234,048,000	$ 232,954,000
Retail site
Loss Contingencies [Line Items]
Letters of credit outstanding			$ 130,000
Office building
Loss Contingencies [Line Items]
Letters of credit outstanding					$ 603,000
Renewal term			1 year

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details)	3 Months Ended		9 Months Ended
	Sep. 29, 2021USD ($)	Sep. 23, 2020USD ($)	Sep. 29, 2021USD ($)renewal_option	Sep. 23, 2020USD ($)	Dec. 30, 2020USD ($)
Related Party Transaction [Line Items]
Percentage of tax benefits due to equity owners	85.00%		85.00%
Tax receivable agreement payments to related parties	$ 0	$ 0	$ 0	$ 6,643,000
Tax receivable agreement liability	234,048,000		234,048,000		$ 232,954,000
Distributions paid to non-controlling interest holders	172,000	164,000	878,000	478,000
Tax Receivable Agreement Liability, Noncurrent	234,048,000		$ 234,048,000		232,954,000
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]
Expenses from transactions with related party	130,000	75,000	$ 340,000	169,000
Amounts due to related parties, current	31,000		31,000		0
Concession Income | Subsidiary to Affiliated Entity
Related Party Transaction [Line Items]
Revenue from related parties	185,000	26,000	243,000	60,000
Due from related parties, current	0		0		8,000
Rent Expense | Madison Square Park Conservancy
Related Party Transaction [Line Items]
Expenses from transactions with related party	215,000	173,000	646,000	392,000
Amounts due to related parties, current	0		0		0
Mobo Systems, Inc. | Board of Directors Chairman
Related Party Transaction [Line Items]
Expenses from transactions with related party	833,000	$ 419,000	2,049,000	$ 1,208,000
Amounts due to related parties, current	$ 18,000		$ 18,000		$ 0