Shake Shack (SHAK) 10-Q 2 Aug 24 2024 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information Document and Entity Information - shares	3 Months Ended
	Jun. 26, 2024	Jul. 24, 2024
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	Jun. 26, 2024
Document fiscal year focus	2024
Document fiscal period focus	Q2
Entity registrant name	SHAKE SHACK INC.
Entity Address, Address Line One	225 Varick Street
Entity Address, Address Line Two	Suite 301
Entity Address, City or Town	New York,
Entity Address, State or Province	NY
Entity central index key	0001620533
Current fiscal year end date	--12-25
Entity filer category	Large Accelerated Filer
Entity current reporting status	Yes
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Shell Company	false
Class A Common Stock
Document Information [Line Items]
Entity common stock, shares outstanding (in shares)		39,982,821
Class B Common Stock
Document Information [Line Items]
Entity common stock, shares outstanding (in shares)		2,487,936

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Thousands	Jun. 26, 2024	Dec. 27, 2023
Current assets:
Cash and cash equivalents	$ 301,838	$ 224,653
Marketable securities	2,574	68,561
Accounts receivable, net	15,914	16,847
Inventories	5,194	5,404
Prepaid expenses and other current assets	20,160	18,967
Total current assets	345,680	334,432
Property and equipment, net of accumulated depreciation of $425,428 and $376,760, respectively	545,225	530,995
Operating lease assets	419,527	398,296
Deferred income taxes, net	338,538	326,208
Other assets	12,788	15,926
TOTAL ASSETS	1,661,758	1,605,857
Current liabilities:
Accounts payable	18,576	22,273
Accrued expenses	56,376	54,742
Accrued wages and related liabilities	22,584	20,945
Operating lease liabilities, current	53,140	49,004
Other current liabilities	17,412	17,103
Total current liabilities	168,088	164,067
Long-term debt	246,160	245,636
Long-term operating lease liabilities	487,600	464,533
Liabilities under tax receivable agreement, net of current portion	246,878	235,613
Other long-term liabilities	26,667	26,638
Total liabilities	1,175,393	1,136,487
Commitments and contingencies (Note 13)
Stockholders' equity:
Preferred stock, no par value—10,000,000 shares authorized; none issued and outstanding as of June 26, 2024 and December 27, 2023.	0	0
Additional paid-in capital	433,877	426,601
Retained earnings	28,485	16,777
Accumulated other comprehensive loss	(4)	(3)
Total stockholders' equity attributable to Shake Shack Inc.	462,400	443,417
Non-controlling interests	23,965	25,953
Total equity	486,365	469,370
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	1,661,758	1,605,857
Class A Common Stock
Stockholders' equity:
Common stock	40	39
Class B Common Stock
Stockholders' equity:
Common stock	$ 2	$ 3

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 26, 2024	Jun. 28, 2023	Jun. 26, 2024	Jun. 28, 2023
TOTAL REVENUE	$ 316,496	$ 271,805	$ 607,000	$ 525,083
Shack-level operating expenses:
Food and paper costs	85,053	75,800	165,306	147,572
Labor and related expenses	86,614	75,158	168,123	149,422
Other operating expenses	43,953	36,109	85,809	71,045
Occupancy and related expenses	23,226	19,801	45,414	38,384
General and administrative expenses	36,313	31,476	72,257	62,787
Depreciation and amortization expense	25,496	22,252	50,937	43,574
Pre-opening costs	4,014	5,577	6,767	9,134
Impairment and loss on disposal of assets	1,045	884	1,571	1,606
TOTAL EXPENSES	305,714	267,057	596,184	523,524
INCOME FROM OPERATIONS	10,782	4,748	10,816	1,559
Other income, net	3,300	3,227	6,506	6,064
Interest expense	(527)	(405)	(1,035)	(808)
INCOME BEFORE INCOME TAXES	13,555	7,570	16,287	6,815
Income tax expense	3,173	347	3,691	1,214
NET INCOME	10,382	7,223	12,596	5,601
Less: Net income attributable to non-controlling interests	714	275	888	187
NET INCOME ATTRIBUTABLE TO SHAKE SHACK INC.	$ 9,668	$ 6,948	$ 11,708	$ 5,414
Earnings per share of Class A common stock:
Basic (in dollars per share)	$ 0.24	$ 0.18	$ 0.30	$ 0.14
Diluted (in dollars per share)	$ 0.23	$ 0.16	$ 0.28	$ 0.13
Weighted-average shares of Class A common stock outstanding:
Basic (in shares)	39,750	39,416	39,632	39,374
Diluted (in shares)	41,480	43,886	41,369	43,837
Shack sales
TOTAL REVENUE	$ 305,480	$ 261,810	$ 586,032	$ 506,064
Licensing revenue
TOTAL REVENUE	$ 11,016	$ 9,995	$ 20,968	$ 19,019

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 26, 2024		Jun. 28, 2023		Jun. 26, 2024	Jun. 28, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 10,382		$ 7,223		$ 12,596	$ 5,601
Other comprehensive loss, net of tax:
Change in foreign currency translation adjustment	0	[1]	0	[1]	(1)	(4)
OTHER COMPREHENSIVE LOSS	0		0		(1)	(4)
COMPREHENSIVE INCOME	10,382		7,223		12,595	5,597
Less: Comprehensive income attributable to non-controlling interests	714		275		888	187
COMPREHENSIVE INCOME ATTRIBUTABLE TO SHAKE SHACK INC.	$ 9,668		$ 6,948		$ 11,707	$ 5,410
[1] Net of tax expense of $0 for the thirteen and twenty-six weeks ended June 26, 2024 and June 28, 2023.

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED) (Parenthetical) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 26, 2024	Jun. 28, 2023	Jun. 26, 2024	Jun. 28, 2023
Statement of Comprehensive Income [Abstract]
Income tax expense	$ 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 Class A Common Stock	Common Stock Class B Common Stock	Additional Paid-In Capital	Retained Earnings (Accumulated Deficit)	Accumulated Other Comprehensive Loss	Non- Controlling Interest
Beginning balance (shares) at Dec. 28, 2022					39,284,998	2,869,513
Beginning balance at Dec. 28, 2022	$ 436,836				$ 39	$ 3	$ 415,649	$ (3,487)	$ 0	$ 24,632
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	5,601							5,414		187
Other comprehensive income (loss):
Change in foreign currency translation adjustment	(4)								(4)
Equity-based compensation	7,875						7,875
Activity under stock compensation plans (in shares)					139,248
Activity under stock compensation plans	(2,039)						(2,554)			515
Redemption of LLC Interests (in shares)					25,000	(25,000)
Redemption of LLC Interests	0						194			(194)
Establishment of liabilities under tax receivable agreement and related changes to deferred tax assets associated with increases in tax basis	230						230
Distributions paid to non-controlling interest holders	(52)									(52)
Ending balance (shares) at Jun. 28, 2023					39,449,246	2,844,513
Ending balance at Jun. 28, 2023	448,447				$ 39	$ 3	421,394	1,927	(4)	25,088
Beginning balance (shares) at Mar. 29, 2023					39,404,905	2,844,513
Beginning balance at Mar. 29, 2023	436,993				$ 39	$ 3	417,489	(5,021)	(4)	24,487
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	7,223							6,948		275
Other comprehensive income (loss):
Change in foreign currency translation adjustment	0	[1]							0
Equity-based compensation	4,011						4,011
Activity under stock compensation plans (in shares)					44,341
Activity under stock compensation plans	474						145			329
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	(251)						(251)
Distributions paid to non-controlling interest holders	(3)									(3)
Ending balance (shares) at Jun. 28, 2023					39,449,246	2,844,513
Ending balance at Jun. 28, 2023	448,447				$ 39	$ 3	421,394	1,927	(4)	25,088
Beginning balance (shares) at Dec. 27, 2023			39,474,315	2,834,513	39,474,315	2,834,513
Beginning balance at Dec. 27, 2023	469,370				$ 39	$ 3	426,601	16,777	(3)	25,953
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	12,596							11,708		888
Other comprehensive income (loss):
Change in foreign currency translation adjustment	(1)								(1)
Equity-based compensation	7,558						7,558
Activity under stock compensation plans (in shares)					146,081
Activity under stock compensation plans	(5,389)				$ 1		(5,897)			507
Redemption of LLC Interests (in shares)					346,577	(346,577)
Redemption of LLC Interests	0					$ (1)	3,239			(3,238)
Establishment of liabilities under tax receivable agreement and related changes to deferred tax assets associated with increases in tax basis	2,376						2,376
Distributions paid to non-controlling interest holders	(145)									(145)
Ending balance (shares) at Jun. 26, 2024			39,966,973	2,487,936	39,966,973	2,487,936
Ending balance at Jun. 26, 2024	486,365				$ 40	$ 2	433,877	28,485	(4)	23,965
Beginning balance (shares) at Mar. 27, 2024					39,635,382	2,801,013
Beginning balance at Mar. 27, 2024	472,293				$ 40	$ 3	427,530	18,817	(4)	25,907
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	10,382							9,668		714
Other comprehensive income (loss):
Change in foreign currency translation adjustment	0	[1]							0
Equity-based compensation	3,840						3,840
Activity under stock compensation plans (in shares)					18,514
Activity under stock compensation plans	(24)						(320)			296
Redemption of LLC Interests (in shares)					313,077	(313,077)
Redemption of LLC Interests	0					$ (1)	2,953			(2,952)
Establishment of liabilities under tax receivable agreement and related changes to deferred tax assets associated with increases in tax basis	(126)						(126)
Distributions paid to non-controlling interest holders	0									0
Ending balance (shares) at Jun. 26, 2024			39,966,973	2,487,936	39,966,973	2,487,936
Ending balance at Jun. 26, 2024	$ 486,365				$ 40	$ 2	$ 433,877	$ 28,485	$ (4)	$ 23,965
[1] Net of tax expense of $0 for the thirteen and twenty-six weeks ended June 26, 2024 and June 28, 2023.

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 26, 2024	Jun. 28, 2023
OPERATING ACTIVITIES
Net income (including amounts attributable to non-controlling interests)	$ 12,596	$ 5,601
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization expense	50,937	43,574
Amortization of debt issuance costs	524	524
Amortization of cloud computing assets	1,048	880
Non-cash operating lease cost	37,655	32,598
Equity-based compensation	7,381	7,734
Deferred income taxes	1,311	2,733
Non-cash interest	(128)	99
Gain on sale of equity securities	0	(81)
Net amortization of discount on held-to-maturity securities	(434)	(89)
Impairment and loss on disposal of assets	1,571	1,606
Changes in operating assets and liabilities:
Accounts receivable	933	(455)
Inventories	210	(490)
Prepaid expenses and other current assets	(864)	(519)
Other assets	(1,219)	(3,217)
Accounts payable	(1,084)	(3,939)
Accrued expenses	4,409	39
Accrued wages and related liabilities	1,639	592
Other current liabilities	(732)	(2,081)
Operating lease liabilities	(32,553)	(25,584)
Other long-term liabilities	1,010	2,666
NET CASH PROVIDED BY OPERATING ACTIVITIES	84,210	62,191
INVESTING ACTIVITIES
Purchases of property and equipment	(65,992)	(74,755)
Purchases of held-to-maturity securities	0	(91,448)
Maturities of held-to-maturity marketable securities	66,420	0
Purchases of equity securities	0	(690)
Sales of equity securities	0	81,478
NET CASH USED IN INVESTING ACTIVITIES	428	(85,415)
FINANCING ACTIVITIES
Payments on principal of finance leases	(1,918)	(1,504)
Distributions paid to non-controlling interest holders	(145)	(52)
Net proceeds from stock option exercises	552	630
Employee withholding taxes related to net settled equity awards	(5,941)	(2,670)
NET CASH USED IN FINANCING ACTIVITIES	(7,452)	(3,596)
Effect of exchange rate changes on cash and cash equivalents	(1)	(4)
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	77,185	(26,824)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	224,653	230,521
CASH AND CASH EQUIVALENTS AT END OF PERIOD	301,838	203,697
0% Convertible Senior Notes Due 2028 | Senior Notes | Private Placement
Adjustments to reconcile net income to net cash provided by operating activities:
Amortization of debt issuance costs	$ 524	$ 524

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parenthetical) - USD ($) $ in Thousands	Jun. 26, 2024	Dec. 27, 2023
Accumulated depreciation	$ 376,760	$ 425,428
Preferred stock, 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)	39,966,973	39,474,315
Common stock, shares, outstanding (in shares)	39,966,973	39,474,315
Class B Common Stock
Common stock par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	35,000,000	35,000,000
Common stock, shares, issued (in shares)	2,487,936	2,834,513
Common stock, shares, outstanding (in shares)	2,487,936	2,834,513

NATURE OF OPERATIONS

NATURE OF OPERATIONS	6 Months Ended
	Jun. 26, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
NATURE OF OPERATIONS	NATURE OF OPERATIONS Shake 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 Inc. 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 June 26, 2024 the Company owned 94.1% 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 burgers, chicken, hot dogs, crinkle cut fries, shakes, frozen custard, beer, wine and more. As of June 26, 2024, there were 547 Shacks in operation system-wide, of which 311 were Company-operated Shacks and 236 were licensed Shacks.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 26, 2024
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 27, 2023 ("2023 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 the rules and regulations of the Securities and Exchange Commission. These interim Condensed Consolidated Financial Statements should be read in conjunction with the consolidated financial statements and related notes thereto included in its 2023 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 June 26, 2024 and December 27, 2023, the net assets of SSE Holdings were $409,417 and $388,250, respectively. The assets of SSE Holdings are subject to certain restrictions in SSE Holdings' revolving credit agreement. Fiscal Year The Company operates on a 52/53 week fiscal year ending on the last Wednesday of December. Fiscal 2024 contains 52 weeks and ends on December 25, 2024. Fiscal 2023 contained 52 weeks and ended on December 27, 2023. 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 Issued Accounting Pronouncements The Company reviewed all recently issued accounting pronouncements and concluded that they were not applicable or not expected to have a significant impact on its Condensed Consolidated Financial Statements.

REVENUE

REVENUE	6 Months Ended
	Jun. 26, 2024
Revenue from Contract with Customer [Abstract]
REVENUE	REVENUE Revenue Recognition Shack Sales Revenue from Shack sales is recognized when payment is tendered at the point of sale, net of discounts as the performance obligation has been satisfied at that time. Sales tax collected from guests is excluded from Shack sales and the obligation is included in Other current liabilities on the Condensed Consolidated Balance Sheets until the taxes are remitted to the appropriate taxing authorities. Delivery services are fulfilled by third-party delivery partners whether ordered through the Shack app, website (collectively, "Company-owned platforms") or through third-party delivery platforms. Revenue from orders through Company-owned platforms includes delivery fees and is recognized when the delivery partner transfers the order to the guest as the Company controls the delivery. For these sales, the Company receives payment directly from the guest at the time of sale. Revenue from orders through third-party delivery platforms is recognized when the order is transferred to the third-party delivery partner and excludes delivery fees collected by the delivery partner as the Company does not control the delivery. The Company receives payment from the delivery partner subsequent to the transfer of the order and the payment terms are short-term in nature. For all delivery sales, the Company is considered the principal and recognizes revenue on a gross basis. The Company sells gift cards which do not have expiration dates. Revenue from gift cards is recognized when gift cards are redeemed by the guest or, in the event a gift card is not expected to be redeemed, in proportion to actual redemptions of gift cards ("gift card breakage"). The gift card breakage rate is determined from historical gift card redemption patterns. Gift card breakage income for the thirteen weeks ended June 26, 2024 and June 28, 2023 was $110 and $72, respectively. Gift card breakage income for the twenty-six weeks ended June 26, 2024 and June 28, 2023 was $244 and $178, respectively. Gift card breakage income is included in Shack sales on the Condensed Consolidated Statements of Income. Licensing Revenue 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 good or service transferred to the licensee 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 license and considered one performance obligation per Shack. The Company determines the transaction price for each contract, which requires judgement as the transaction price is comprised of the initial territory fee and an estimate of the total Shack opening fees based on the estimated 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 obligation is satisfied over time, starting when a Shack opens through the end of the license term for the related Shack, therefore 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 license 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 in revenue as the performance obligations are satisfied. Revenue from sales-based royalties is recognized as the related sales occur. Revenue disaggregated by type was as follows: Thirteen Weeks Ended Twenty-Six Weeks Ended June 26 June 28 June 26 June 28 Shack sales $ 305,480 $ 261,810 $ 586,032 $ 506,064 Licensing revenue: Sales-based royalties 10,624 9,712 20,257 18,490 Initial territory and opening fees 392 283 711 529 Total revenue $ 316,496 $ 271,805 $ 607,000 $ 525,083 The aggregate amount of the transaction price allocated to performance obligations that were unsatisfied or partially unsatisfied as of June 26, 2024 was $22,978. The Company expects to recognize this amount as revenue over a long-term period, as the license term for each Shack ranges from five Contract Balances Contract liabilities and receivables from contracts with customers were as follows: June 26 December 27 Shack sales receivables $ 9,399 $ 9,884 Licensing receivables, net of allowance for doubtful accounts 5,440 4,610 Gift card liability 2,047 2,603 Deferred revenue, current 1,328 1,192 Deferred revenue, long-term 16,777 17,157 Revenue recognized that was included in the respective liability balances at the beginning of the period was as follows: Thirteen Weeks Ended Twenty-Six Weeks Ended June 26 June 28 June 26 June 28 Gift card liability $ 168 $ 144 $ 587 $ 477 Deferred revenue 385 274 702 518

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	6 Months Ended
	Jun. 26, 2024
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS Assets and Liabilities Measured at Fair Value on a Recurring Basis The carrying values of the Company's Cash and cash equivalents, Accounts receivable, net, Accounts payable and Accrued expenses approximate fair value due to the short-term nature of these financial instruments. The Company's marketable securities were as follows: June 26 December 27 Held-to-maturity securities $ 2,574 $ 68,561 The Company classified its held-to-maturity securities as Level 1 within the fair value hierarchy. Refer to Note 6, Debt, for additional information relating to the fair value of the Company's outstanding debt instruments. The Company's held-to-maturity securities were as follows: June 26, 2024 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value U.S. Treasuries $ 2,574 $ 456 $ — $ 3,030 As of June 26, 2024, the contractual maturities of held-to-maturity securities were less than 12 months. Any expected credit losses would not be material to the Condensed Consolidated Statements of Income. A summary of other income (expense) from marketable securities was as follows: Thirteen Weeks Ended Twenty-Six Weeks Ended June 26 June 28 June 26 June 28 Income from marketable securities $ 90 $ 126 $ 625 $ 621 Realized gain on sale of equity securities — — — 81 Total $ 90 $ 126 $ 625 $ 702 Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis

SUPPLEMENTAL BALANCE SHEET INFO

SUPPLEMENTAL BALANCE SHEET INFORMATION	6 Months Ended
	Jun. 26, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
SUPPLEMENTAL BALANCE SHEET INFORMATION	SUPPLEMENTAL BALANCE SHEET INFORMATION The components of Prepaid expenses and other current assets were as follows: June 26 December 27 Prepaid expenses $ 6,332 $ 5,641 Tenant allowance receivables 12,465 12,136 Other 1,363 1,190 Prepaid expenses and other current assets $ 20,160 $ 18,967 The components of Other current liabilities were as follows: June 26 December 27 Sales tax payable $ 6,220 $ 6,076 Current portion of financing equipment lease liabilities 3,789 3,435 Gift card liability 2,047 2,603 Other 5,356 4,989 Other current liabilities $ 17,412 $ 17,103

DEBT

DEBT	6 Months Ended
	Jun. 26, 2024
Debt Disclosure [Abstract]
DEBT	DEBT Convertible Notes The Company's $250,000 aggregate principal amount of 0% Convertible Senior Notes due 2028 (“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. The fair value of the Convertible Notes was approximately $214,375 and $205,000, respectively, as of June 26, 2024 and December 27, 2023, 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. Thirteen Weeks Ended Twenty-Six Weeks Ended Classification June 26 June 28 June 26 June 28 Amortization expense on Convertible Notes Interest expense $ 262 $ 262 $ 524 $ 524 June 26 December 27 Convertible Notes $ 250,000 $ 250,000 Discount and debt issuance costs, net of amortization (3,840) (4,364) Long-term debt $ 246,160 $ 245,636 Revolving Credit Facility The Company maintains a revolving credit facility agreement ("Revolving Credit Facility") which permits borrowings up to $50,000 with the ability to increase available borrowings up to an additional $100,000, subject to satisfaction of certain conditions. The Revolving Credit Facility has a maturity date of March 5, 2026. In June 2023, the Company entered into the fourth amendment to the Revolving Credit Facility ("Fourth Amendment"), which, among other things, modified the benchmark interest rate to either: (i) the base rate plus applicable margin ranging from 0.0% to 1.5% or (ii) the Secured Overnight Financing Rate (“SOFR”) plus applicable margin ranging from 1.0% to 2.5%, in each case dependent upon the net lease adjusted leverage ratio. As of June 26, 2024 and December 27, 2023, 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, as well as other customary affirmative and negative covenants. As of June 26, 2024, the Company was in compliance with all covenants. The Revolving Credit Facility also permits the issuance of letters of credit upon our request of up to $15,000. As of June 26, 2024 and December 27, 2023, the Company had outstanding letters of credit of $3,310 and $3,147, respectively, in connection with the Revolving Credit Facility. Thirteen Weeks Ended Twenty-Six Weeks Ended Classification June 26 June 28 June 26 June 28 Interest expense on Revolving Credit Facility Interest expense $ 17 $ 22 $ 34 $ 46 Classification June 26 December 27 Unamortized deferred financing costs on Revolving Credit Facility Other assets $ 33 $ 42

LEASES

LEASES	6 Months Ended
	Jun. 26, 2024
Leases [Abstract]
LEASES	LEASES Nature of Leases Shake Shack currently leases all of its Company-operated Shacks, the home office and certain equipment under various non-cancelable lease agreements that expire on various dates through 2045. 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 benefit 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, the Company has identified a lease within the contract, and therefore a right of use asset and lease liability are recorded on the Condensed Consolidated Balance Sheets. Upon possession of a leased asset, the Company determines whether the lease is an operating or finance lease. All of the Company's real estate leases are classified as operating leases and most equipment leases are classified as finance leases. Generally, 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 renewal options. Real estate leases typically contain fixed minimum rent payments and/or contingent rent payments which are based upon sales in excess of specified thresholds. When the achievement of such sales thresholds are deemed to be probable, contingent rent is accrued in proportion to the sales recognized during the period. For operating leases, fixed lease payments are recognized as operating lease costs on a straight-line basis over the lease term on the Condensed Consolidated Statements of Income in the following line items. Lease expense incurred before a Shack opens is recorded in Pre-opening costs. Once a Company-operated Shack opens, the straight-line lease expense and contingent rent, if applicable, are recorded in Occupancy and related expenses. Many of these 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. Finance leases are recognized in depreciation expense on a straight-line basis over the remaining lease term, along with recognition of interest expense associated with accretion of the lease liability. For both operating and finance leases that contain lease and non-lease components, the components are combined and accounted for as a single lease component. Variable lease costs for both operating and finance leases, if any, are recognized as incurred. Leases with a term of 12 months or less are deemed short-term and are not recognized on the Condensed Consolidated Balance Sheets. Fixed lease payments for short-term leases are recognized on a straight-line basis over the lease term. The Company calculates operating lease assets and lease liabilities as the present value of fixed lease payments over the reasonably certain lease term beginning at the commencement date. The Company uses its incremental borrowing rate ("IBR") in determining the present value of future lease payments as there are no explicit rates provided in the leases. 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 leased properties. Generally, a portion of the leasehold improvements and building costs are reimbursed by the landlords through landlord incentives pursuant to agreed-upon terms in the lease agreements. 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 and as milestones are met during the construction of the property. The Company includes these amounts in the measurement of the initial operating lease liability, and lease asset. A summary of operating and finance right-of-use assets and lease liabilities were as follows: Classification June 26 December 27 Operating leases Operating lease assets $ 419,527 $ 398,296 Finance leases Property and equipment, net 12,278 11,801 Total right-of-use assets $ 431,805 $ 410,097 Operating leases: Operating lease liabilities, current $ 53,140 $ 49,004 Long-term operating lease liabilities 487,600 464,533 Finance leases: Other current liabilities 3,789 3,435 Other long-term liabilities 8,969 8,721 Total lease liabilities $ 553,498 $ 525,693 The components of lease expense were as follows: Thirteen Weeks Ended Twenty-Six Weeks Ended Classification June 26 June 28 June 26 June 28 Operating lease cost Occupancy and related expenses $ 19,165 $ 16,523 $ 37,655 $ 32,598 Finance lease cost: Amortization of right-of-use assets Depreciation and amortization expense 1,075 703 2,043 1,440 Interest on lease liabilities Interest expense 207 72 387 142 Variable lease cost Occupancy and related expenses 5,523 4,682 10,729 8,452 Short-term lease cost Occupancy and related expenses 190 273 406 513 Total lease cost $ 26,160 $ 22,253 $ 51,220 $ 43,145 As of June 26, 2024, future minimum lease payments for operating and finance leases consisted of the following: Operating Leases Finance Leases 2024 (1) $ 29,716 $ 2,306 2025 85,913 4,151 2026 86,224 3,397 2027 81,318 2,719 2028 76,993 1,493 Thereafter 342,271 228 Total minimum payments 702,435 14,294 Less: imputed interest 174,160 1,536 Total lease liabilities $ 528,275 $ 12,758 (1) Operating leases are net of certain tenant allowance receivables that were reclassified to Other current assets as of June 26, 2024. As of June 26, 2024, the Company had additional operating lease commitments of $134,340 for non-cancelable leases without a possession date, which commence in 2024 or later. These lease commitments are materially consistent with leases recognized on the Condensed Consolidated Balance Sheets. A summary of lease terms and discount rates for operating and finance leases were as follows: June 26 December 27 Weighted average remaining lease term (years): Operating leases 8.9 8.9 Finance leases 4.7 4.7 Weighted average discount rate: Operating leases 6.2 % 6.2 % Finance leases 5.7 % 5.6 % Supplemental cash flow information related to leases was as follows: Twenty-Six Weeks Ended June 26 June 28 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 40,095 $ 34,454 Operating cash flows from finance leases 387 142 Financing cash flows from finance leases 1,918 1,504 Right-of-use assets obtained in exchange for lease obligations: Operating leases 43,822 37,625 Finance leases 2,520 1,408
LEASES	LEASES Nature of Leases Shake Shack currently leases all of its Company-operated Shacks, the home office and certain equipment under various non-cancelable lease agreements that expire on various dates through 2045. 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 benefit 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, the Company has identified a lease within the contract, and therefore a right of use asset and lease liability are recorded on the Condensed Consolidated Balance Sheets. Upon possession of a leased asset, the Company determines whether the lease is an operating or finance lease. All of the Company's real estate leases are classified as operating leases and most equipment leases are classified as finance leases. Generally, 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 renewal options. Real estate leases typically contain fixed minimum rent payments and/or contingent rent payments which are based upon sales in excess of specified thresholds. When the achievement of such sales thresholds are deemed to be probable, contingent rent is accrued in proportion to the sales recognized during the period. For operating leases, fixed lease payments are recognized as operating lease costs on a straight-line basis over the lease term on the Condensed Consolidated Statements of Income in the following line items. Lease expense incurred before a Shack opens is recorded in Pre-opening costs. Once a Company-operated Shack opens, the straight-line lease expense and contingent rent, if applicable, are recorded in Occupancy and related expenses. Many of these 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. Finance leases are recognized in depreciation expense on a straight-line basis over the remaining lease term, along with recognition of interest expense associated with accretion of the lease liability. For both operating and finance leases that contain lease and non-lease components, the components are combined and accounted for as a single lease component. Variable lease costs for both operating and finance leases, if any, are recognized as incurred. Leases with a term of 12 months or less are deemed short-term and are not recognized on the Condensed Consolidated Balance Sheets. Fixed lease payments for short-term leases are recognized on a straight-line basis over the lease term. The Company calculates operating lease assets and lease liabilities as the present value of fixed lease payments over the reasonably certain lease term beginning at the commencement date. The Company uses its incremental borrowing rate ("IBR") in determining the present value of future lease payments as there are no explicit rates provided in the leases. 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 leased properties. Generally, a portion of the leasehold improvements and building costs are reimbursed by the landlords through landlord incentives pursuant to agreed-upon terms in the lease agreements. 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 and as milestones are met during the construction of the property. The Company includes these amounts in the measurement of the initial operating lease liability, and lease asset. A summary of operating and finance right-of-use assets and lease liabilities were as follows: Classification June 26 December 27 Operating leases Operating lease assets $ 419,527 $ 398,296 Finance leases Property and equipment, net 12,278 11,801 Total right-of-use assets $ 431,805 $ 410,097 Operating leases: Operating lease liabilities, current $ 53,140 $ 49,004 Long-term operating lease liabilities 487,600 464,533 Finance leases: Other current liabilities 3,789 3,435 Other long-term liabilities 8,969 8,721 Total lease liabilities $ 553,498 $ 525,693 The components of lease expense were as follows: Thirteen Weeks Ended Twenty-Six Weeks Ended Classification June 26 June 28 June 26 June 28 Operating lease cost Occupancy and related expenses $ 19,165 $ 16,523 $ 37,655 $ 32,598 Finance lease cost: Amortization of right-of-use assets Depreciation and amortization expense 1,075 703 2,043 1,440 Interest on lease liabilities Interest expense 207 72 387 142 Variable lease cost Occupancy and related expenses 5,523 4,682 10,729 8,452 Short-term lease cost Occupancy and related expenses 190 273 406 513 Total lease cost $ 26,160 $ 22,253 $ 51,220 $ 43,145 As of June 26, 2024, future minimum lease payments for operating and finance leases consisted of the following: Operating Leases Finance Leases 2024 (1) $ 29,716 $ 2,306 2025 85,913 4,151 2026 86,224 3,397 2027 81,318 2,719 2028 76,993 1,493 Thereafter 342,271 228 Total minimum payments 702,435 14,294 Less: imputed interest 174,160 1,536 Total lease liabilities $ 528,275 $ 12,758 (1) Operating leases are net of certain tenant allowance receivables that were reclassified to Other current assets as of June 26, 2024. As of June 26, 2024, the Company had additional operating lease commitments of $134,340 for non-cancelable leases without a possession date, which commence in 2024 or later. These lease commitments are materially consistent with leases recognized on the Condensed Consolidated Balance Sheets. A summary of lease terms and discount rates for operating and finance leases were as follows: June 26 December 27 Weighted average remaining lease term (years): Operating leases 8.9 8.9 Finance leases 4.7 4.7 Weighted average discount rate: Operating leases 6.2 % 6.2 % Finance leases 5.7 % 5.6 % Supplemental cash flow information related to leases was as follows: Twenty-Six Weeks Ended June 26 June 28 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 40,095 $ 34,454 Operating cash flows from finance leases 387 142 Financing cash flows from finance leases 1,918 1,504 Right-of-use assets obtained in exchange for lease obligations: Operating leases 43,822 37,625 Finance leases 2,520 1,408

NON-CONTROLLING INTERESTS

NON-CONTROLLING INTERESTS	6 Months Ended
	Jun. 26, 2024
Noncontrolling Interest [Abstract]
NON-CONTROLLING INTERESTS	NON-CONTROLLING INTERESTS Shake Shack is the primary beneficiary and sole managing member of SSE Holdings and, as a result, consolidates the financial results of SSE Holdings. The Company reports a non-controlling interest representing the economic interest 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 SSE Holdings, LLC membership interests ("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: June 26, 2024 December 27, 2023 LLC Interests Ownership % LLC Interests Ownership % Number of LLC Interests held by Shake Shack Inc. 39,966,973 94.1 % 39,474,315 93.3 % Number of LLC Interests held by non-controlling interest holders 2,487,936 5.9 % 2,834,513 6.7 % Total LLC Interests outstanding 42,454,909 100.0 % 42,308,828 100.0 % The weighted average ownership percentages for the applicable reporting periods are used to attribute Net income and Other comprehensive income to the non-controlling interest holders and were as follows: Thirteen Weeks Ended Twenty-Six Weeks Ended June 26 June 28 June 26 June 28 Non-controlling interest holders' weighted average ownership percentages 6.3 % 6.7 % 6.5 % 6.7 % The following table summarizes the effects of changes in ownership of SSE Holdings on the Company's equity: Thirteen Weeks Ended Twenty-Six Weeks Ended June 26 June 28 June 26 June 28 Net income attributable to Shake Shack Inc. $ 9,668 $ 6,948 $ 11,708 $ 5,414 Other comprehensive loss: Unrealized holding loss on foreign currency translation adjustment — — (1) (4) Transfers (to) from non-controlling interests: Increase in additional paid-in capital as a result of the redemption of LLC Interests 2,953 — 3,239 194 Increase (decrease) in additional paid-in capital as a result of activity under stock compensation plan (320) 145 (5,897) (2,554) Total effect of changes in ownership interest on equity attributable to Shake Shack Inc. $ 12,301 $ 7,093 $ 9,049 $ 3,050 The following table summarizes the LLC Interests activity: Thirteen Weeks Ended Twenty-Six Weeks Ended June 26 June 28 June 26 June 28 LLC Interests activity under the Company's stock compensation plan Number of LLC Interests received by Shake Shack Inc. 18,514 44,341 146,081 139,248 Redemption and acquisition of LLC Interests Number of LLC Interests redeemed by non-controlling interest holders 313,077 — 346,577 25,000 Number of LLC Interests received by Shake Shack Inc. 313,077 — 346,577 25,000 Issuance of Class A common stock Shares of Class A common stock issued in connection with redemptions of LLC Interests 313,077 — 346,577 25,000 Cancellation of Class B common stock Shares of Class B common stock surrendered and canceled 313,077 — 346,577 25,000

EQUITY-BASED COMPENSATION

EQUITY-BASED COMPENSATION	6 Months Ended
	Jun. 26, 2024
Share-Based Payment Arrangement [Abstract]
EQUITY-BASED COMPENSATION	EQUITY-BASED COMPENSATION A summary of equity-based compensation expense by award type was as follows: Thirteen Weeks Ended Twenty-Six Weeks Ended June 26 June 28 June 26 June 28 Performance stock units $ (505) $ 749 $ 278 $ 2,059 Restricted stock units 4,244 3,183 7,103 5,675 Equity-based compensation expense $ 3,739 $ 3,932 $ 7,381 $ 7,734 Total income tax benefit recognized related to equity-based compensation $ 113 $ 98 $ 217 $ 200 Equity-based compensation expense recognized was as follows: Thirteen Weeks Ended Twenty-Six Weeks Ended June 26 June 28 June 26 June 28 General and administrative expenses $ 3,317 $ 3,562 $ 6,633 $ 7,091 Labor and related expenses 422 370 748 643 Equity-based compensation expense $ 3,739 $ 3,932 $ 7,381 $ 7,734

INCOME TAXES

INCOME TAXES	6 Months Ended
	Jun. 26, 2024
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. Effective Income Tax Rates The following table presents the Company’s effective income tax rates: Thirteen Weeks Ended Twenty-Six Weeks Ended June 26 June 28 June 26 June 28 Effective income tax rates 23.4 % 4.6 % 22.7 % 17.8 % The increases in the effective income tax rates for the thirteen and twenty-six weeks ended June 26, 2024 were primarily driven by increases in pre-tax income. Additionally, increases in the Company's ownership interest in SSE Holdings for the thirteen and twenty-six weeks ended June 26, 2024 increase its share of the taxable income of SSE Holdings. The Company's weighted average ownership interest in SSE Holdings was as follows: Thirteen Weeks Ended Twenty-Six Weeks Ended June 26 June 28 June 26 June 28 Shake Shack's weighted average ownership percentages 93.7 % 93.3 % 93.5 % 93.3 % Deferred Tax Assets and Liabilities The Company acquires LLC Interests in connection with the redemption of LLC Interests and activity relating to its stock compensation plan and recognizes deferred tax assets associated with the basis difference in its investment in SSE Holdings upon acquisition of these LLC Interests. The following table summarizes the LLC Interests acquired by the Company: Thirteen Weeks Ended Twenty-Six Weeks Ended June 26 June 28 June 26 June 28 LLC Interests activity under the Company's stock compensation plan 18,514 44,341 146,081 139,248 LLC Interests activity from redemptions of LLC Interests 313,077 — 346,577 25,000 Total LLC Interests acquired by the Company 331,591 44,341 492,658 164,248 Deferred tax assets related to the basis difference in the Company's investment in SSE Holdings were as follows: Thirteen Weeks Ended Twenty-Six Weeks Ended June 26 June 28 June 26 June 28 Deferred tax assets recognized upon acquisition of LLC Interests $ 7,263 $ (251) $ 10,577 $ 573 June 26 December 27 Total deferred tax assets related to the acquisition of LLC Interests $ 101,746 $ 90,419 The Company also recognizes 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. Thirteen Weeks Ended Twenty-Six Weeks Ended June 26 June 28 June 26 June 28 Deferred tax assets recognized under the Tax Receivable Agreement $ 2,760 $ — $ 3,063 $ 129 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 June 26, 2024, 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 relating to certain state tax credits and net operating losses) are more likely than not to be realized. As such, no additional valuation allowance was recognized. Tax Receivable Agreement 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. 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. Amounts payable under the Tax Receivable Agreement are contingent upon, among other things, (i) generation of future taxable income over the term of the Tax Receivable Agreement and (ii) future changes in tax laws. There were no transactions subject to the Tax Receivable Agreement for which the Company did not recognize the related liability, as the Company concluded that it would have sufficient future taxable income to utilize all of the related tax benefits generated by all transactions that occurred during the twenty-six weeks ended June 26, 2024 and June 28, 2023. A summary of obligations under the Tax Receivable Agreement were as follows: Thirteen Weeks Ended Twenty-Six Weeks Ended June 26 June 28 June 26 June 28 Additional liabilities recognized under the Tax Receivable Agreement $ 10,150 $ (4) $ 11,265 $ 468 June 26 December 27 Total obligations under the Tax Receivable Agreement $ 246,878 $ 235,613 During the twenty-six weeks ended June 26, 2024 and June 28, 2023, inclusive of interest, no payments were made to the parties to the Tax Receivable Agreement.

EARNINGS (LOSS) PER SHARE

EARNINGS (LOSS) PER SHARE	6 Months Ended
	Jun. 26, 2024
Earnings Per Share [Abstract]
EARNINGS (LOSS) PER SHARE	EARNINGS (LOSS) PER SHARE Basic earnings per share of Class A common stock is computed by dividing Net income attributable to Shake Shack Inc. by the weighted average number of shares of Class A common stock outstanding during the period. Diluted earnings per share of Class A common stock is computed by dividing Net income attributable to Shake Shack Inc. by the weighted average number of shares of Class A common stock outstanding, adjusted to give effect to potentially dilutive securities. The following table sets forth reconciliations of the numerators and denominators used to compute basic and diluted earnings per share of Class A common stock (in thousands, except per share amounts): Thirteen Weeks Ended Twenty-Six Weeks Ended June 26 June 28 June 26 June 28 Numerator: Net income attributable to Shake Shack Inc.—basic $ 9,668 $ 6,948 $ 11,708 $ 5,414 Reallocation of net income attributable to non-controlling interests from the assumed conversion of Class B shares — 275 — 187 Net income attributable to Shake Shack Inc.—diluted $ 9,668 $ 7,223 $ 11,708 $ 5,601 Denominator: Weighted average shares of Class A common stock outstanding—basic 39,750 39,416 39,632 39,374 Effect of dilutive securities: Stock options 60 79 65 79 Performance stock units 63 6 39 11 Restricted stock units 140 73 166 58 Convertible Notes 1,467 1,467 1,467 1,467 Shares of Class B common stock — 2,845 — 2,848 Weighted average shares of Class A common stock outstanding—diluted 41,480 43,886 41,369 43,837 Earnings per share of Class A common stock—basic $ 0.24 $ 0.18 $ 0.30 $ 0.14 Earnings per share of Class A common stock—diluted $ 0.23 $ 0.16 $ 0.28 $ 0.13 The effect of potential share settlement of the Convertible Notes outstanding for the period is included as potentially dilutive shares of Class A common stock under application of the if-converted method in the computation of diluted earnings per share, except when the effect would be anti-dilutive. Refer to Note 6, Debt, for additional information. 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 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 per share, except when the effect would be anti-dilutive. The following table presents potentially dilutive securities excluded from the computations of diluted earnings per share of Class A common stock: Thirteen Weeks Ended Twenty-Six Weeks Ended June 26 June 28 June 26 June 28 Performance stock units 121,131 (1) 109,749 (1) 121,131 (1) 109,749 (1) Shares of Class B common stock 2,487,936 (2) — 2,487,936 (2) — (1) Number of securities outstanding at the end of the period that were excluded from the computation of diluted earnings per share of Class A common stock because the 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 per share of Class A common stock because the effect would have been anti-dilutive.

SUPPLEMENTAL CASH FLOW INFORMAT

SUPPLEMENTAL CASH FLOW INFORMATION	6 Months Ended
	Jun. 26, 2024
Cash and Cash Equivalents [Abstract]
SUPPLEMENTAL CASH FLOW INFORMATION	SUPPLEMENTAL CASH FLOW INFORMATION The following table sets forth supplemental cash flow information: Twenty-Six Weeks Ended June 26 June 28 Cash paid for: Income taxes, net of refunds $ 3,696 $ 1,877 Interest, net of amounts capitalized 493 185 Non-cash investing activities: Accrued purchases of property and equipment 19,749 26,178 Capitalized equity-based compensation 107 92 Non-cash financing activities: Establishment of liabilities under Tax Receivable Agreement 11,265 468

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Jun. 26, 2024
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 2045. Under certain of these leases, the Company is liable for contingent rent based on a percentage of sales in excess of specified thresholds and 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. Certain leases require the Company to obtain letters of credit. As of June 26, 2024, the Company held three letters of credit, one for $402, which expires in August 2024 and renews automatically for one-year periods through January 2034, one for $163, which expires in December 2024 and renews automatically for one-year periods through December 2029 and one for $130 which expires in February 2026. 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 The Company is subject to various legal proceedings, claims and liabilities, involving employees and guests alike, which arise in the ordinary course of business and are generally covered by insurance. As of June 26, 2024, the amount of the ultimate liability with respect to these matters was not material. Liabilities under Tax Receivable Agreement The Company is a party to the Tax Receivable Agreement under which it is contractually committed to pay certain of the members of SSE Holdings 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. The Company is not obligated to make any payments under the Tax Receivable Agreement until the tax benefits associated with the transactions that gave rise to the payments are realized. Refer to Note 10, Income Taxes, for additional information relating to the Tax Receivable Agreement.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	6 Months Ended
	Jun. 26, 2024
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONS Union Square Hospitality Group The Chairman of the Board of Directors serves as the Executive Chairman of Union Square Hospitality Group, LLC. As a result, Union Square Hospitality Group, LLC and its subsidiary, 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 Twenty-Six Weeks Ended Classification June 26 June 28 June 26 June 28 Amounts received from HYC Licensing revenue $ 144 $ 163 $ 242 $ 309 Classification June 26 December 27 Amounts due from HYC Accounts receivable, net $ 218 $ 57 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. Thirteen Weeks Ended Twenty-Six Weeks Ended Classification June 26 June 28 June 26 June 28 Amounts paid to MSP Conservancy Occupancy and related expenses $ 229 $ 224 $ 458 $ 448 Classification June 26 December 27 Amounts due to MSP Conservancy Accrued expenses $ 20 $ — Olo, Inc. The Chairman of the Board of Directors serves as a director of Olo, Inc., a platform the Company uses in connection with its mobile ordering application. Thirteen Weeks Ended Twenty-Six Weeks Ended Classification June 26 June 28 June 26 June 28 Amounts paid to Olo, Inc. Other operating expenses $ 133 $ 143 $ 314 $ 267 Classification June 26 December 27 Amounts due to Olo, Inc. Accounts payable $ 222 $ 116 Block, Inc. The Company's former Chief Executive Officer is a member of the board of directors of Block, Inc. (formerly known as "Square, Inc."). The Company currently uses certain point-of-sale applications, payment processing services, hardware and other enterprise platform services in connection with its kiosk technology, sales for certain off-site events and the processing of a limited amount of sales at certain locations. Thirteen Weeks Ended Twenty-Six Weeks Ended Classification June 26 June 28 June 26 June 28 Amounts paid to Block, Inc. Other operating expenses $ 3,170 $ 1,909 $ 5,875 $ 3,585 Classification June 26 December 27 Amounts due to Block, Inc. Accounts payable $ — $ 59 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. No payments were made to the members of SSE Holdings pursuant to the Tax Receivable Agreement during the twenty-six weeks ended June 26, 2024 and June 28, 2023. Classification June 26 December 27 Amounts due under the Tax Receivable Agreement Other current liabilities $ 246,878 $ 235,613 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 June 26, 2024 and December 27, 2023, respectively. Thirteen Weeks Ended Twenty-Six Weeks Ended Classification June 26 June 28 June 26 June 28 Amounts paid to non-controlling interest holders Non-controlling interests $ — $ 3 $ 145 $ 52

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 26, 2024	Jun. 28, 2023	Jun. 26, 2024	Jun. 28, 2023
Pay vs Performance Disclosure
Net income attributable to Shake Shack Inc.	$ 9,668	$ 6,948	$ 11,708	$ 5,414

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Jun. 26, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 26, 2024
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 27, 2023 ("2023 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 the rules and regulations of the Securities and Exchange Commission. These interim Condensed Consolidated Financial Statements should be read in conjunction with the consolidated financial statements and related notes thereto included in its 2023 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 June 26, 2024 and December 27, 2023, the net assets of SSE Holdings were $409,417 and $388,250, respectively. The assets of SSE Holdings are subject to certain restrictions in SSE Holdings' revolving credit agreement.
Fiscal Year	Fiscal Year The Company operates on a 52/53 week fiscal year ending on the last Wednesday of December. Fiscal 2024 contains 52 weeks and ends on December 25, 2024. Fiscal 2023 contained 52 weeks and ended on December 27, 2023. Unless otherwise stated, references to years in this report relate to fiscal years.
Use of Estimates	Use of Estimates The preparation of these Condensed Consolidated Financial Statements in conformity with GAAP requires 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 Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements The Company reviewed all recently issued accounting pronouncements and concluded that they were not applicable or not expected to have a significant impact on its Condensed Consolidated Financial Statements.

REVENUE (Tables)

REVENUE (Tables)	6 Months Ended
	Jun. 26, 2024
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue	Revenue disaggregated by type was as follows: Thirteen Weeks Ended Twenty-Six Weeks Ended June 26 June 28 June 26 June 28 Shack sales $ 305,480 $ 261,810 $ 586,032 $ 506,064 Licensing revenue: Sales-based royalties 10,624 9,712 20,257 18,490 Initial territory and opening fees 392 283 711 529 Total revenue $ 316,496 $ 271,805 $ 607,000 $ 525,083
Schedule of Contract with Customer, Asset and Liability	Contract liabilities and receivables from contracts with customers were as follows: June 26 December 27 Shack sales receivables $ 9,399 $ 9,884 Licensing receivables, net of allowance for doubtful accounts 5,440 4,610 Gift card liability 2,047 2,603 Deferred revenue, current 1,328 1,192 Deferred revenue, long-term 16,777 17,157 Revenue recognized that was included in the respective liability balances at the beginning of the period was as follows: Thirteen Weeks Ended Twenty-Six Weeks Ended June 26 June 28 June 26 June 28 Gift card liability $ 168 $ 144 $ 587 $ 477 Deferred revenue 385 274 702 518

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	6 Months Ended
	Jun. 26, 2024
Fair Value Disclosures [Abstract]
Summary of Investment Holdings, Schedule of Investments	The Company's marketable securities were as follows: June 26 December 27 Held-to-maturity securities $ 2,574 $ 68,561
Debt Securities, Held-to-Maturity	The Company's held-to-maturity securities were as follows: June 26, 2024 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value U.S. Treasuries $ 2,574 $ 456 $ — $ 3,030
Schedule of Other Income From Available for Sale Securities	A summary of other income (expense) from marketable securities was as follows: Thirteen Weeks Ended Twenty-Six Weeks Ended June 26 June 28 June 26 June 28 Income from marketable securities $ 90 $ 126 $ 625 $ 621 Realized gain on sale of equity securities — — — 81 Total $ 90 $ 126 $ 625 $ 702

SUPPLEMENTAL BALANCE SHEET IN_2

SUPPLEMENTAL BALANCE SHEET INFORMATION (Tables)	6 Months Ended
	Jun. 26, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Prepaid Expenses and Other Current Assets	The components of Prepaid expenses and other current assets were as follows: June 26 December 27 Prepaid expenses $ 6,332 $ 5,641 Tenant allowance receivables 12,465 12,136 Other 1,363 1,190 Prepaid expenses and other current assets $ 20,160 $ 18,967
Other Current Liabilities	The components of Other current liabilities were as follows: June 26 December 27 Sales tax payable $ 6,220 $ 6,076 Current portion of financing equipment lease liabilities 3,789 3,435 Gift card liability 2,047 2,603 Other 5,356 4,989 Other current liabilities $ 17,412 $ 17,103

DEBT (Tables)

DEBT (Tables)	6 Months Ended
	Jun. 26, 2024
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	Thirteen Weeks Ended Twenty-Six Weeks Ended Classification June 26 June 28 June 26 June 28 Amortization expense on Convertible Notes Interest expense $ 262 $ 262 $ 524 $ 524 June 26 December 27 Convertible Notes $ 250,000 $ 250,000 Discount and debt issuance costs, net of amortization (3,840) (4,364) Long-term debt $ 246,160 $ 245,636 Thirteen Weeks Ended Twenty-Six Weeks Ended Classification June 26 June 28 June 26 June 28 Interest expense on Revolving Credit Facility Interest expense $ 17 $ 22 $ 34 $ 46 Classification June 26 December 27 Unamortized deferred financing costs on Revolving Credit Facility Other assets $ 33 $ 42

LEASES (Tables)

LEASES (Tables)	6 Months Ended
	Jun. 26, 2024
Leases [Abstract]
Lease, Cost	A summary of operating and finance right-of-use assets and lease liabilities were as follows: Classification June 26 December 27 Operating leases Operating lease assets $ 419,527 $ 398,296 Finance leases Property and equipment, net 12,278 11,801 Total right-of-use assets $ 431,805 $ 410,097 Operating leases: Operating lease liabilities, current $ 53,140 $ 49,004 Long-term operating lease liabilities 487,600 464,533 Finance leases: Other current liabilities 3,789 3,435 Other long-term liabilities 8,969 8,721 Total lease liabilities $ 553,498 $ 525,693 The components of lease expense were as follows: Thirteen Weeks Ended Twenty-Six Weeks Ended Classification June 26 June 28 June 26 June 28 Operating lease cost Occupancy and related expenses $ 19,165 $ 16,523 $ 37,655 $ 32,598 Finance lease cost: Amortization of right-of-use assets Depreciation and amortization expense 1,075 703 2,043 1,440 Interest on lease liabilities Interest expense 207 72 387 142 Variable lease cost Occupancy and related expenses 5,523 4,682 10,729 8,452 Short-term lease cost Occupancy and related expenses 190 273 406 513 Total lease cost $ 26,160 $ 22,253 $ 51,220 $ 43,145 June 26 December 27 Weighted average remaining lease term (years): Operating leases 8.9 8.9 Finance leases 4.7 4.7 Weighted average discount rate: Operating leases 6.2 % 6.2 % Finance leases 5.7 % 5.6 % Supplemental cash flow information related to leases was as follows: Twenty-Six Weeks Ended June 26 June 28 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 40,095 $ 34,454 Operating cash flows from finance leases 387 142 Financing cash flows from finance leases 1,918 1,504 Right-of-use assets obtained in exchange for lease obligations: Operating leases 43,822 37,625 Finance leases 2,520 1,408
Lessee, Operating Lease, Liability, Maturity	As of June 26, 2024, future minimum lease payments for operating and finance leases consisted of the following: Operating Leases Finance Leases 2024 (1) $ 29,716 $ 2,306 2025 85,913 4,151 2026 86,224 3,397 2027 81,318 2,719 2028 76,993 1,493 Thereafter 342,271 228 Total minimum payments 702,435 14,294 Less: imputed interest 174,160 1,536 Total lease liabilities $ 528,275 $ 12,758 (1) Operating leases are net of certain tenant allowance receivables that were reclassified to Other current assets as of June 26, 2024.
Finance Lease, Liability, Maturity	As of June 26, 2024, future minimum lease payments for operating and finance leases consisted of the following: Operating Leases Finance Leases 2024 (1) $ 29,716 $ 2,306 2025 85,913 4,151 2026 86,224 3,397 2027 81,318 2,719 2028 76,993 1,493 Thereafter 342,271 228 Total minimum payments 702,435 14,294 Less: imputed interest 174,160 1,536 Total lease liabilities $ 528,275 $ 12,758 (1) Operating leases are net of certain tenant allowance receivables that were reclassified to Other current assets as of June 26, 2024.

NON-CONTROLLING INTERESTS (Tabl

NON-CONTROLLING INTERESTS (Tables)	6 Months Ended
	Jun. 26, 2024
Noncontrolling Interest [Abstract]
Schedule of Ownership Interests in SSE Holdings	The following table summarizes the ownership interest in SSE Holdings: June 26, 2024 December 27, 2023 LLC Interests Ownership % LLC Interests Ownership % Number of LLC Interests held by Shake Shack Inc. 39,966,973 94.1 % 39,474,315 93.3 % Number of LLC Interests held by non-controlling interest holders 2,487,936 5.9 % 2,834,513 6.7 % Total LLC Interests outstanding 42,454,909 100.0 % 42,308,828 100.0 %
Noncontrolling Interest, Ownership Percentages	Thirteen Weeks Ended Twenty-Six Weeks Ended June 26 June 28 June 26 June 28 Non-controlling interest holders' weighted average ownership percentages 6.3 % 6.7 % 6.5 % 6.7 %
Schedule of Non-Controlling Interest	The following table summarizes the effects of changes in ownership of SSE Holdings on the Company's equity: Thirteen Weeks Ended Twenty-Six Weeks Ended June 26 June 28 June 26 June 28 Net income attributable to Shake Shack Inc. $ 9,668 $ 6,948 $ 11,708 $ 5,414 Other comprehensive loss: Unrealized holding loss on foreign currency translation adjustment — — (1) (4) Transfers (to) from non-controlling interests: Increase in additional paid-in capital as a result of the redemption of LLC Interests 2,953 — 3,239 194 Increase (decrease) in additional paid-in capital as a result of activity under stock compensation plan (320) 145 (5,897) (2,554) Total effect of changes in ownership interest on equity attributable to Shake Shack Inc. $ 12,301 $ 7,093 $ 9,049 $ 3,050
Redemption of LLC Interests	The following table summarizes the LLC Interests activity: Thirteen Weeks Ended Twenty-Six Weeks Ended June 26 June 28 June 26 June 28 LLC Interests activity under the Company's stock compensation plan Number of LLC Interests received by Shake Shack Inc. 18,514 44,341 146,081 139,248 Redemption and acquisition of LLC Interests Number of LLC Interests redeemed by non-controlling interest holders 313,077 — 346,577 25,000 Number of LLC Interests received by Shake Shack Inc. 313,077 — 346,577 25,000 Issuance of Class A common stock Shares of Class A common stock issued in connection with redemptions of LLC Interests 313,077 — 346,577 25,000 Cancellation of Class B common stock Shares of Class B common stock surrendered and canceled 313,077 — 346,577 25,000 The following table summarizes the LLC Interests acquired by the Company: Thirteen Weeks Ended Twenty-Six Weeks Ended June 26 June 28 June 26 June 28 LLC Interests activity under the Company's stock compensation plan 18,514 44,341 146,081 139,248 LLC Interests activity from redemptions of LLC Interests 313,077 — 346,577 25,000 Total LLC Interests acquired by the Company 331,591 44,341 492,658 164,248

EQUITY-BASED COMPENSATION (Tabl

EQUITY-BASED COMPENSATION (Tables)	6 Months Ended
	Jun. 26, 2024
Share-Based Payment Arrangement [Abstract]
Schedule of Equity-Based Compensation Expense Recognized	A summary of equity-based compensation expense by award type was as follows: Thirteen Weeks Ended Twenty-Six Weeks Ended June 26 June 28 June 26 June 28 Performance stock units $ (505) $ 749 $ 278 $ 2,059 Restricted stock units 4,244 3,183 7,103 5,675 Equity-based compensation expense $ 3,739 $ 3,932 $ 7,381 $ 7,734 Total income tax benefit recognized related to equity-based compensation $ 113 $ 98 $ 217 $ 200 Equity-based compensation expense recognized was as follows: Thirteen Weeks Ended Twenty-Six Weeks Ended June 26 June 28 June 26 June 28 General and administrative expenses $ 3,317 $ 3,562 $ 6,633 $ 7,091 Labor and related expenses 422 370 748 643 Equity-based compensation expense $ 3,739 $ 3,932 $ 7,381 $ 7,734

INCOME TAXES (Tables)

INCOME TAXES (Tables)	6 Months Ended
	Jun. 26, 2024
Income Tax Disclosure [Abstract]
Schedule of Effective Income Tax Rate Reconciliation	The following table presents the Company’s effective income tax rates: Thirteen Weeks Ended Twenty-Six Weeks Ended June 26 June 28 June 26 June 28 Effective income tax rates 23.4 % 4.6 % 22.7 % 17.8 %
Schedule Of Weighted Average Ownership Interest	The Company's weighted average ownership interest in SSE Holdings was as follows: Thirteen Weeks Ended Twenty-Six Weeks Ended June 26 June 28 June 26 June 28 Shake Shack's weighted average ownership percentages 93.7 % 93.3 % 93.5 % 93.3 %
Redemption of LLC Interests	The following table summarizes the LLC Interests activity: Thirteen Weeks Ended Twenty-Six Weeks Ended June 26 June 28 June 26 June 28 LLC Interests activity under the Company's stock compensation plan Number of LLC Interests received by Shake Shack Inc. 18,514 44,341 146,081 139,248 Redemption and acquisition of LLC Interests Number of LLC Interests redeemed by non-controlling interest holders 313,077 — 346,577 25,000 Number of LLC Interests received by Shake Shack Inc. 313,077 — 346,577 25,000 Issuance of Class A common stock Shares of Class A common stock issued in connection with redemptions of LLC Interests 313,077 — 346,577 25,000 Cancellation of Class B common stock Shares of Class B common stock surrendered and canceled 313,077 — 346,577 25,000 The following table summarizes the LLC Interests acquired by the Company: Thirteen Weeks Ended Twenty-Six Weeks Ended June 26 June 28 June 26 June 28 LLC Interests activity under the Company's stock compensation plan 18,514 44,341 146,081 139,248 LLC Interests activity from redemptions of LLC Interests 313,077 — 346,577 25,000 Total LLC Interests acquired by the Company 331,591 44,341 492,658 164,248
Schedule of Deferred Tax Assets	Deferred tax assets related to the basis difference in the Company's investment in SSE Holdings were as follows: Thirteen Weeks Ended Twenty-Six Weeks Ended June 26 June 28 June 26 June 28 Deferred tax assets recognized upon acquisition of LLC Interests $ 7,263 $ (251) $ 10,577 $ 573 June 26 December 27 Total deferred tax assets related to the acquisition of LLC Interests $ 101,746 $ 90,419 Thirteen Weeks Ended Twenty-Six Weeks Ended June 26 June 28 June 26 June 28 Deferred tax assets recognized under the Tax Receivable Agreement $ 2,760 $ — $ 3,063 $ 129
Schedule Of Obligations Under Tax Receivable Agreement	A summary of obligations under the Tax Receivable Agreement were as follows: Thirteen Weeks Ended Twenty-Six Weeks Ended June 26 June 28 June 26 June 28 Additional liabilities recognized under the Tax Receivable Agreement $ 10,150 $ (4) $ 11,265 $ 468 June 26 December 27 Total obligations under the Tax Receivable Agreement $ 246,878 $ 235,613

EARNINGS (LOSS) PER SHARE (Tabl

EARNINGS (LOSS) PER SHARE (Tables)	6 Months Ended
	Jun. 26, 2024
Earnings Per Share [Abstract]
Schedule of Earnings Per Share	The following table sets forth reconciliations of the numerators and denominators used to compute basic and diluted earnings per share of Class A common stock (in thousands, except per share amounts): Thirteen Weeks Ended Twenty-Six Weeks Ended June 26 June 28 June 26 June 28 Numerator: Net income attributable to Shake Shack Inc.—basic $ 9,668 $ 6,948 $ 11,708 $ 5,414 Reallocation of net income attributable to non-controlling interests from the assumed conversion of Class B shares — 275 — 187 Net income attributable to Shake Shack Inc.—diluted $ 9,668 $ 7,223 $ 11,708 $ 5,601 Denominator: Weighted average shares of Class A common stock outstanding—basic 39,750 39,416 39,632 39,374 Effect of dilutive securities: Stock options 60 79 65 79 Performance stock units 63 6 39 11 Restricted stock units 140 73 166 58 Convertible Notes 1,467 1,467 1,467 1,467 Shares of Class B common stock — 2,845 — 2,848 Weighted average shares of Class A common stock outstanding—diluted 41,480 43,886 41,369 43,837 Earnings per share of Class A common stock—basic $ 0.24 $ 0.18 $ 0.30 $ 0.14 Earnings per share of Class A common stock—diluted $ 0.23 $ 0.16 $ 0.28 $ 0.13 The following table presents potentially dilutive securities excluded from the computations of diluted earnings per share of Class A common stock: Thirteen Weeks Ended Twenty-Six Weeks Ended June 26 June 28 June 26 June 28 Performance stock units 121,131 (1) 109,749 (1) 121,131 (1) 109,749 (1) Shares of Class B common stock 2,487,936 (2) — 2,487,936 (2) — (1) Number of securities outstanding at the end of the period that were excluded from the computation of diluted earnings per share of Class A common stock because the 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 per share of Class A common stock because the effect would have been anti-dilutive.

SUPPLEMENTAL CASH FLOW INFORM_2

SUPPLEMENTAL CASH FLOW INFORMATION (Tables)	6 Months Ended
	Jun. 26, 2024
Cash and Cash Equivalents [Abstract]
Schedule of Cash Flow Information	The following table sets forth supplemental cash flow information: Twenty-Six Weeks Ended June 26 June 28 Cash paid for: Income taxes, net of refunds $ 3,696 $ 1,877 Interest, net of amounts capitalized 493 185 Non-cash investing activities: Accrued purchases of property and equipment 19,749 26,178 Capitalized equity-based compensation 107 92 Non-cash financing activities: Establishment of liabilities under Tax Receivable Agreement 11,265 468

RELATED PARTY TRANSACTIONS (Tab

RELATED PARTY TRANSACTIONS (Tables)	6 Months Ended
	Jun. 26, 2024
Related Party Transactions [Abstract]
Schedule of Related Party Transactions	Thirteen Weeks Ended Twenty-Six Weeks Ended Classification June 26 June 28 June 26 June 28 Amounts received from HYC Licensing revenue $ 144 $ 163 $ 242 $ 309 Classification June 26 December 27 Amounts due from HYC Accounts receivable, net $ 218 $ 57 Thirteen Weeks Ended Twenty-Six Weeks Ended Classification June 26 June 28 June 26 June 28 Amounts paid to MSP Conservancy Occupancy and related expenses $ 229 $ 224 $ 458 $ 448 Classification June 26 December 27 Amounts due to MSP Conservancy Accrued expenses $ 20 $ — Thirteen Weeks Ended Twenty-Six Weeks Ended Classification June 26 June 28 June 26 June 28 Amounts paid to Olo, Inc. Other operating expenses $ 133 $ 143 $ 314 $ 267 Classification June 26 December 27 Amounts due to Olo, Inc. Accounts payable $ 222 $ 116 Thirteen Weeks Ended Twenty-Six Weeks Ended Classification June 26 June 28 June 26 June 28 Amounts paid to Block, Inc. Other operating expenses $ 3,170 $ 1,909 $ 5,875 $ 3,585 Classification June 26 December 27 Amounts due to Block, Inc. Accounts payable $ — $ 59 Classification June 26 December 27 Amounts due under the Tax Receivable Agreement Other current liabilities $ 246,878 $ 235,613 Thirteen Weeks Ended Twenty-Six Weeks Ended Classification June 26 June 28 June 26 June 28 Amounts paid to non-controlling interest holders Non-controlling interests $ — $ 3 $ 145 $ 52

NATURE OF OPERATIONS (Details)

NATURE OF OPERATIONS (Details) - Restaurant	Jun. 26, 2024	Dec. 27, 2023
Class of Stock [Line Items]
Number of restaurants	547
Company-operated
Class of Stock [Line Items]
Number of restaurants	311
Licensed
Class of Stock [Line Items]
Number of restaurants	236
Shake Shack Inc.
Class of Stock [Line Items]
Ownership percent of noncontrolling interest	94.10%	93.30%

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($) $ in Thousands	Jun. 26, 2024	Dec. 27, 2023
Variable Interest Entity [Line Items]
Net assets held by SSE holders	$ 1,661,758	$ 1,605,857
Variable Interest Entity, Primary Beneficiary
Variable Interest Entity [Line Items]
Net assets held by SSE holders	$ 409,417	$ 388,250

REVENUE - Narrative (Details)

REVENUE - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 26, 2024	Jun. 28, 2023	Jun. 26, 2024	Jun. 28, 2023
Disaggregation of Revenue [Line Items]
Gift card breakage income	$ 110	$ 72	$ 244	$ 178
Revenue, remaining performance obligation	$ 22,978		$ 22,978
Minimum
Disaggregation of Revenue [Line Items]
License term	5 years		5 years
Maximum
Disaggregation of Revenue [Line Items]
License term	20 years		20 years

REVENUE - Schedule of Disaggreg

REVENUE - Schedule of Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 26, 2024	Jun. 28, 2023	Jun. 26, 2024	Jun. 28, 2023
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	$ 316,496	$ 271,805	$ 607,000	$ 525,083
Shack sales
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	305,480	261,810	586,032	506,064
Sales-based royalties
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	10,624	9,712	20,257	18,490
Initial territory and opening fees
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	$ 392	$ 283	$ 711	$ 529

REVENUE - Schedule of Respectiv

REVENUE - Schedule of Respective Liability Balances (Details) - USD ($) $ in Thousands	Jun. 26, 2024	Dec. 27, 2023
Disaggregation of Revenue [Line Items]
Gift card liability	$ 2,047	$ 2,603
Deferred revenue, current	1,328	1,192
Deferred revenue, long-term	16,777	17,157
Shack sales
Disaggregation of Revenue [Line Items]
Contract with customer, asset, net	9,399	9,884
Licensing receivables, net of allowance for doubtful accounts
Disaggregation of Revenue [Line Items]
Contract with customer, asset, net	$ 5,440	$ 4,610

REVENUE - Liability Balance (De

REVENUE - Liability Balance (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 26, 2024	Jun. 28, 2023	Jun. 26, 2024	Jun. 28, 2023
Revenue from Contract with Customer [Abstract]
Gift card liability	$ 168	$ 144	$ 587	$ 477
Deferred revenue	$ 385	$ 274	$ 702	$ 518

FAIR VALUE MEASUREMENTS - Inves

FAIR VALUE MEASUREMENTS - Investments (Details) - USD ($) $ in Thousands	Jun. 26, 2024	Dec. 27, 2023
U.S. Treasuries
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Held-to-maturity securities	$ 2,574	$ 68,561

FAIR VALUE MEASUREMENTS - Held-

FAIR VALUE MEASUREMENTS - Held-To-Maturity Securities (Details) - U.S. Treasuries - USD ($) $ in Thousands	Jun. 26, 2024	Dec. 27, 2023
Schedule of Held-to-Maturity Securities [Line Items]
Amortized Cost	$ 2,574	$ 68,561
Gross Unrealized Gains	456
Gross Unrealized Losses	0
Estimated Fair Value	$ 3,030

FAIR VALUE MEASUREMENTS - Other

FAIR VALUE MEASUREMENTS - Other Income (Expense) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 26, 2024	Jun. 28, 2023	Jun. 26, 2024	Jun. 28, 2023
Fair Value Disclosures [Abstract]
Income from marketable securities	$ 90	$ 126	$ 625	$ 621
Realized gain on sale of equity securities	0	0	0	81
Total	$ 90	$ 126	$ 625	$ 702

FAIR VALUE MEASUREMENTS - Addit

FAIR VALUE MEASUREMENTS - Additional Information (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 26, 2024	Jun. 28, 2023	Jun. 26, 2024	Jun. 28, 2023
Fair Value Disclosures [Abstract]
Asset impairment charges	$ 0	$ 0	$ 0	$ 0

SUPPLEMENTAL BALANCE SHEET IN_3

SUPPLEMENTAL BALANCE SHEET INFORMATION - Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands	Jun. 26, 2024	Dec. 27, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Prepaid expenses	$ 6,332	$ 5,641
Tenant allowance receivables	12,465	12,136
Other	1,363	1,190
Prepaid expenses and other current assets	$ 20,160	$ 18,967

SUPPLEMENTAL BALANCE SHEET IN_4

SUPPLEMENTAL BALANCE SHEET INFORMATION - Other Current Liabilities (Details) - USD ($) $ in Thousands	Jun. 26, 2024	Dec. 27, 2023
Other Liabilities, Current
Sales tax payable	$ 6,220	$ 6,076
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Other current liabilities	Other current liabilities
Current portion of financing equipment lease liabilities	$ 3,789	$ 3,435
Gift card liability	2,047	2,603
Other	5,356	4,989
Other current liabilities	$ 17,412	$ 17,103

DEBT - Convertible Notes (Detai

DEBT - Convertible Notes (Details) $ / shares in Units, $ in Thousands	1 Months Ended
	Mar. 31, 2021 USD ($) d $ / shares shares	Jun. 26, 2024 USD ($) $ / shares	Dec. 27, 2023 USD ($) $ / shares
Class A Common Stock
Debt Instrument [Line Items]
Common stock par value (in dollars per share) | $ / shares		$ 0.001	$ 0.001
0% Convertible Senior Notes Due 2028 | Senior Notes | Private Placement
Debt Instrument [Line Items]
Aggregate principal amount | $	$ 250,000
Interest rate (in percent)	0%
Conversion rate | shares	5,867.9000
Conversion price (in dollars per share) | $ / shares	$ 170,420
Fair value of convertible notes | $		$ 214,375	$ 205,000
0% Convertible Senior Notes Due 2028 | Senior Notes | Private Placement | Debt Conversion, Condition One
Debt Instrument [Line Items]
Threshold trading days	20
Threshold consecutive trading days	30
Threshold percentage of stock price trigger (in percent)	130%
0% Convertible Senior Notes Due 2028 | Senior Notes | Private Placement | Debt Conversion, Condition One | Class A Common Stock
Debt Instrument [Line Items]
Common stock par value (in dollars per share) | $ / shares	$ 0.001
0% Convertible Senior Notes Due 2028 | Senior Notes | Private Placement | Debt Conversion, Condition Two
Debt Instrument [Line Items]
Threshold consecutive trading days	10
Threshold percentage of stock price trigger (in percent)	98%
Threshold business days	5

DEBT - Convertible Notes Classi

DEBT - Convertible Notes Classification (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 26, 2024	Jun. 28, 2023	Jun. 26, 2024	Jun. 28, 2023	Dec. 27, 2023
Debt Instrument [Line Items]
Amortization expense on Convertible Notes			$ 524	$ 524
Long-term debt	$ 246,160		246,160		$ 245,636
0% Convertible Senior Notes Due 2028 | Senior Notes | Private Placement
Debt Instrument [Line Items]
Amortization expense on Convertible Notes	262	$ 262	524	$ 524
Convertible Notes	250,000		250,000		250,000
Discount and debt issuance costs, net of amortization	(3,840)		(3,840)		(4,364)
Long-term debt	$ 246,160		$ 246,160		$ 245,636

DEBT - Revolving Credit Facilit

DEBT - Revolving Credit Facility (Details) - Revolving Credit Facility - Line of Credit - USD ($)	3 Months Ended
	Mar. 27, 2024	Jun. 26, 2024	Dec. 27, 2023
Line of Credit Facility [Line Items]
Maximum borrowing capacity		$ 50,000,000
Incremental borrowing capacity		100,000,000
Outstanding amount under credit facility		0	$ 0
Third Amendment and Restated Credit Arrangement
Line of Credit Facility [Line Items]
Maximum borrowing capacity		15,000,000
Letters of credit outstanding		$ 3,310,000	$ 3,147,000
Minimum | Base Rate
Line of Credit Facility [Line Items]
Basis spread on variable rate (in percent)	0%
Minimum | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Line of Credit Facility [Line Items]
Basis spread on variable rate (in percent)	1%
Maximum | Base Rate
Line of Credit Facility [Line Items]
Basis spread on variable rate (in percent)	1.50%
Maximum | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Line of Credit Facility [Line Items]
Basis spread on variable rate (in percent)	2.50%

DEBT - Revolving Credit Facil_2

DEBT - Revolving Credit Facility Classification (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 26, 2024	Jun. 28, 2023	Jun. 26, 2024	Jun. 28, 2023	Dec. 27, 2023
Debt Instrument [Line Items]
Interest expense	$ 527	$ 405	$ 1,035	$ 808
Revolving Credit Facility | Line of Credit
Debt Instrument [Line Items]
Interest expense	17	$ 22	34	$ 46
Unamortized debt issuance cost	$ 33		$ 33		$ 42

LEASES - Narrative (Details)

LEASES - Narrative (Details) $ in Thousands	6 Months Ended
	Jun. 26, 2024 USD ($) option
Operating Leased Assets [Line Items]
Number of renewal options | option	2
Renewal term	5 years
Operating lease for non-cancellable leases | $	$ 134,340
Minimum
Operating Leased Assets [Line Items]
Term of contract	10 years
Maximum
Operating Leased Assets [Line Items]
Term of contract	15 years

LEASES - Balance Sheet Clasific

LEASES - Balance Sheet Clasification (Details) - USD ($) $ in Thousands	Jun. 26, 2024	Dec. 27, 2023
Leases [Abstract]
Operating lease assets	$ 419,527	$ 398,296
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Operating lease assets	Operating lease assets
Finance lease right-of-use asset	$ 12,278	$ 11,801
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Property and equipment, net of accumulated depreciation of $425,428 and $376,760, respectively	Property and equipment, net of accumulated depreciation of $425,428 and $376,760, respectively
Total right-of-use assets	$ 431,805	$ 410,097
Operating leases:
Operating lease liabilities, current	53,140	49,004
Long-term operating lease liabilities	487,600	464,533
Finance leases:
Other current liabilities	3,789	3,435
Other long-term liabilities	8,969	8,721
Total lease liabilities	$ 553,498	$ 525,693

LEASES - Lease Cost (Details)

LEASES - Lease Cost (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 26, 2024	Jun. 28, 2023	Jun. 26, 2024	Jun. 28, 2023
Total lease cost
Operating lease cost	$ 19,165	$ 16,523	$ 37,655	$ 32,598
Amortization of right-of-use assets	1,075	703	2,043	1,440
Interest on lease liabilities	207	72	387	142
Variable lease cost	5,523	4,682	10,729	8,452
Short-term lease cost	190	273	406	513
Total lease cost	$ 26,160	$ 22,253	$ 51,220	$ 43,145

LEASES - Future Minimum Lease P

LEASES - Future Minimum Lease Payments (Details) $ in Thousands	Jun. 26, 2024 USD ($)
Operating Leases
2024	$ 29,716
2025	85,913
2026	86,224
2027	81,318
2028	76,993
Thereafter	342,271
Total minimum payments	702,435
Less: imputed interest	174,160
Total lease liabilities	528,275
Finance Leases
2024	2,306
2025	4,151
2026	3,397
2027	2,719
2028	1,493
Thereafter	228
Total minimum payments	14,294
Less: imputed interest	1,536
Total lease liabilities	$ 12,758

LEASES - Lease Terms and Discou

LEASES - Lease Terms and Discount Rates (Details)	Jun. 26, 2024	Dec. 27, 2023
Weighted average remaining lease term (years):
Operating leases	8 years 10 months 24 days	8 years 10 months 24 days
Finance leases	4 years 8 months 12 days	4 years 8 months 12 days
Weighted average discount rate:
Operating leases	6.20%	6.20%
Finance leases	5.70%	5.60%

LEASES - Supplemental Cash Flow

LEASES - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 26, 2024	Jun. 28, 2023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$ 40,095	$ 34,454
Operating cash flows from finance leases	387	142
Financing cash flows from finance leases	1,918	1,504
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	43,822	37,625
Finance leases	$ 2,520	$ 1,408

NON-CONTROLLING INTERESTS - Nar

NON-CONTROLLING INTERESTS - Narrative (Details)	Feb. 04, 2015
Class A Common Stock
Noncontrolling Interest [Line Items]
Ratio of common stock to limited liability company interest	1

NON-CONTROLLING INTERESTS - Own

NON-CONTROLLING INTERESTS - Ownership Interest in SSE Holdings (Details) - shares	Jun. 26, 2024	Dec. 27, 2023
Noncontrolling Interest [Line Items]
Number of LLC Interests held by Shake Shack Inc. (in shares)	39,966,973	39,474,315
Number of LLC Interests held by non-controlling interest holders (in shares)	2,487,936	2,834,513
Total LLC Interests outstanding (in shares)	42,454,909	42,308,828
Total LLC Interests outstanding (as a percentage)	100%	100%
Shake Shack Inc.
Noncontrolling Interest [Line Items]
Number of LLC Interests held by Shake Shack Inc. (as a percentage)	94.10%	93.30%
Non-Controlling Interest Holders
Noncontrolling Interest [Line Items]
Number of LLC Interests held by non-controlling interest holders (as a percentage)	5.90%	6.70%

NON-CONTROLLING INTERESTS - Wei

NON-CONTROLLING INTERESTS - Weighted Average Ownership Percentages (Details)	3 Months Ended		6 Months Ended
	Jun. 26, 2024	Jun. 28, 2023	Jun. 26, 2024	Jun. 28, 2023
Noncontrolling Interest [Abstract]
Non-controlling interest holders' weighted average ownership percentages	6.30%	6.70%	6.50%	6.70%

NON-CONTROLLING INTERESTS - Cha

NON-CONTROLLING INTERESTS - Changes in Ownership Interests in SSE Holdings (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 26, 2024		Jun. 28, 2023		Jun. 26, 2024	Jun. 28, 2023
Noncontrolling Interest [Line Items]
Net income attributable to Shake Shack Inc.	$ 9,668		$ 6,948		$ 11,708	$ 5,414
Other comprehensive loss:
Net change in foreign currency translation adjustment	0	[1]	0	[1]	(1)	(4)
Transfers (to) from non-controlling interests:
Total effect of changes in ownership interest on equity attributable to Shake Shack Inc.	12,301		7,093		9,049	3,050
Unrealized holding gains on equity securities
Other comprehensive loss:
Net change in foreign currency translation adjustment	0		0		(1)	(4)
Additional Paid-In Capital | Redemption or Exchange of Units
Transfers (to) from non-controlling interests:
Increase (decrease) in additional paid-in capital	2,953		0		3,239	194
Additional Paid-In Capital | Employee Stock Option
Transfers (to) from non-controlling interests:
Increase (decrease) in additional paid-in capital	$ (320)		$ 145		$ (5,897)	$ (2,554)
[1] Net of tax expense of $0 for the thirteen and twenty-six weeks ended June 26, 2024 and June 28, 2023.

NON-CONTROLLING INTERESTS - Red

NON-CONTROLLING INTERESTS - Redemption of LLC Interests (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 26, 2024	Jun. 28, 2023	Jun. 26, 2024	Jun. 28, 2023
Limited Liability Company
Class of Stock [Line Items]
Number of LLC Interests received by Shake Shack Inc. (in shares)	331,591	44,341	492,658	164,248
Number of units redeemed (in shares)	313,077	0	346,577	25,000
Stock options | Limited Liability Company
Class of Stock [Line Items]
Number of LLC Interests received by Shake Shack Inc. (in shares)	18,514	44,341	146,081	139,248
Redemptions by NCI Holders | Limited Liability Company
Class of Stock [Line Items]
Number of units redeemed (in shares)	313,077	0	346,577	25,000
Common Stock | Class A Common Stock
Class of Stock [Line Items]
Shares of Class A common stock issued in connection with redemptions of LLC Interests (in shares)	313,077	0	346,577	25,000
Common Stock | Class B Common Stock
Class of Stock [Line Items]
Shares of Class A common stock issued in connection with redemptions of LLC Interests (in shares)	(313,077)	0	(346,577)	(25,000)
Shares of Class B common stock surrendered and canceled (in shares)	313,077	0	346,577	25,000

EQUITY-BASED COMPENSATION - Sch

EQUITY-BASED COMPENSATION - Schedule of compensation expense recognized (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 26, 2024	Jun. 28, 2023	Jun. 26, 2024	Jun. 28, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation expense	$ 3,739	$ 3,932	$ 7,381	$ 7,734
Total income tax benefit recognized related to equity-based compensation	113	98	217	200
Performance stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation expense	(505)	749	278	2,059
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation expense	4,244	3,183	7,103	5,675
General and administrative expenses
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation expense	3,317	3,562	6,633	7,091
Labor and related expenses
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation expense	$ 422	$ 370	$ 748	$ 643

INCOME TAXES - Effective Income

INCOME TAXES - Effective Income Tax Rates (Details)	3 Months Ended		6 Months Ended
	Jun. 26, 2024	Jun. 28, 2023	Jun. 26, 2024	Jun. 28, 2023
Income Tax Disclosure [Abstract]
Effective income tax rates (in percentage)	23.40%	4.60%	22.70%	17.80%

INCOME TAXES - Weighted Average

INCOME TAXES - Weighted Average Ownership Interest (Details)	3 Months Ended		6 Months Ended
	Jun. 26, 2024	Jun. 28, 2023	Jun. 26, 2024	Jun. 28, 2023
Income Tax Disclosure [Abstract]
Shake Shack's weighted average ownership percentages (in percent)	93.70%	93.30%	93.50%	93.30%

INCOME TAXES - LLC Interests Ac

INCOME TAXES - LLC Interests Acquired By The Company (Details) - Limited Liability Company - shares	3 Months Ended		6 Months Ended
	Jun. 26, 2024	Jun. 28, 2023	Jun. 26, 2024	Jun. 28, 2023
Income Tax Contingency [Line Items]
Total LLC Interests acquired by the Company (in shares)	331,591	44,341	492,658	164,248
LLC Interests activity from redemptions of LLC Interests	313,077	0	346,577	25,000
Stock options
Income Tax Contingency [Line Items]
Total LLC Interests acquired by the Company (in shares)	18,514	44,341	146,081	139,248

INCOME TAXES - Deferred Tax Ass

INCOME TAXES - Deferred Tax Assets (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 26, 2024	Jun. 28, 2023	Jun. 26, 2024	Jun. 28, 2023
Income Tax Contingency [Line Items]
Deferred tax assets recognized upon acquisition of LLC Interests	$ 7,263	$ (251)	$ 10,577	$ 573
Deferred tax assets recognized under the Tax Receivable Agreement	2,760	0	3,063	129
Limited Liability Company
Income Tax Contingency [Line Items]
Total deferred tax assets related to the acquisition of LLC Interests	$ 101,746	$ 90,419	$ 101,746	$ 90,419

INCOME TAXES - Narrative (Detai

INCOME TAXES - Narrative (Details) - USD ($)	6 Months Ended
	Jun. 26, 2024	Jun. 28, 2023
Income Tax Contingency [Line Items]
Percentage of tax benefits due to equity owners	85%
Percentage of tax benefits expected to be realized	15%
Payments to related parties	$ 0	$ 0
Foreign Tax Credit
Income Tax Contingency [Line Items]
Deferred tax assets, valuation allowance	$ 0

INCOME TAXES - Obligations Unde

INCOME TAXES - Obligations Under Tax Receivable Agreement (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 26, 2024	Jun. 28, 2023	Jun. 26, 2024	Jun. 28, 2023	Dec. 27, 2023
Income Tax Disclosure [Abstract]
Additional liabilities recognized under the Tax Receivable Agreement	$ 10,150	$ (4)	$ 11,265	$ 468
Total obligations under the Tax Receivable Agreement, current and noncurrent	246,878		246,878
Total obligations under the Tax Receivable Agreement, noncurrent	$ 246,878		$ 246,878		$ 235,613

EARNINGS (LOSS) PER SHARE - Sch

EARNINGS (LOSS) PER SHARE - Schedule of Earnings (Loss) Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 26, 2024	Jun. 28, 2023	Jun. 26, 2024	Jun. 28, 2023
Numerator:
Net income attributable to Shake Shack Inc.—basic	$ 9,668	$ 6,948	$ 11,708	$ 5,414
Reallocation of net income attributable to non-controlling interests from the assumed conversion of Class B shares	714	275	888	187
Net income attributable to Shake Shack Inc.—diluted	$ 9,668	$ 7,223	$ 11,708	$ 5,601
Denominator:
Weighted average shares of Class A common stock outstanding—basic	39,750	39,416	39,632	39,374
Effect of dilutive securities:
Weighted average shares of Class A common stock outstanding—diluted	41,480	43,886	41,369	43,837
Earnings per share of Class A common stock—basic (in dollars per share)	$ 0.24	$ 0.18	$ 0.30	$ 0.14
Earnings per share of Class A common stock—diluted (in dollars per share)	$ 0.23	$ 0.16	$ 0.28	$ 0.13
Performance stock units
Effect of dilutive securities:
Incremental common shares (in shares)	63	6	39	11
Restricted stock units
Effect of dilutive securities:
Incremental common shares (in shares)	140	73	166	58
Convertible Notes
Effect of dilutive securities:
Incremental common shares (in shares)	1,467	1,467	1,467	1,467
Class B Common Stock
Numerator:
Reallocation of net income attributable to non-controlling interests from the assumed conversion of Class B shares	$ 0	$ 275	$ 0	$ 187
Effect of dilutive securities:
Incremental common shares (in shares)	0	2,845	0	2,848
Stock options
Effect of dilutive securities:
Incremental common shares (in shares)	60	79	65	79

EARNINGS (LOSS) PER SHARE - Ant

EARNINGS (LOSS) PER SHARE - Antidilutive Securities (Details) - Common Stock - shares	3 Months Ended		6 Months Ended
	Jun. 26, 2024	Jun. 28, 2023	Jun. 26, 2024	Jun. 28, 2023
Performance stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive shares (in shares)	121,131	109,749	121,131	109,749
Shares of Class B common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive shares (in shares)	2,487,936	0	2,487,936	0

SUPPLEMENTAL CASH FLOW INFORM_3

SUPPLEMENTAL CASH FLOW INFORMATION (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 26, 2024	Jun. 28, 2023	Jun. 26, 2024	Jun. 28, 2023
Cash paid for:
Income taxes, net of refunds			$ 3,696	$ 1,877
Interest, net of amounts capitalized			493	185
Non-cash investing activities:
Accrued purchases of property and equipment			19,749	26,178
Capitalized equity-based compensation			107	92
Non-cash financing activities:
Establishment of liabilities under Tax Receivable Agreement	$ 10,150	$ (4)	$ 11,265	$ 468

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) $ in Thousands	Jun. 26, 2024 USD ($)
Loss Contingencies [Line Items]
Percentage of tax benefits due to equity owners	85%
Letter Of Credit, Expiring August 2024
Loss Contingencies [Line Items]
Letters of credit outstanding	$ 402
Letter Of Credit, Expiring December 2024
Loss Contingencies [Line Items]
Letters of credit outstanding	163
Letter Of Credit - Expiring December February 2026
Loss Contingencies [Line Items]
Letters of credit outstanding	$ 130

RELATED PARTY TRANSACTIONS - Ad

RELATED PARTY TRANSACTIONS - Additional Information (Details)	6 Months Ended
	Jun. 26, 2024 USD ($) renewal_option	Jun. 28, 2023 USD ($)
Related Party Transaction [Line Items]
Percentage of tax benefits due to equity owners	85%
Payments to related parties | $	$ 0	$ 0
Related Party | Hudson Yards Catering ("HYC")
Related Party Transaction [Line Items]
Master license agreement, number of renewal terms | renewal_option	5
Renewal option period	5 years

RELATED PARTY TRANSACTIONS - Sc

RELATED PARTY TRANSACTIONS - Schedule of Related Party Transactions (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 26, 2024	Jun. 28, 2023	Jun. 26, 2024	Jun. 28, 2023	Dec. 27, 2023
Related Party Transaction [Line Items]
Revenue from contract with customer	$ 316,496,000	$ 271,805,000	$ 607,000,000	$ 525,083,000
Accounts receivable, net	15,914,000		15,914,000		$ 16,847,000
Occupancy and related expenses	23,226,000	19,801,000	45,414,000	38,384,000
Accrued expenses	56,376,000		56,376,000		54,742,000
Other operating expenses	43,953,000	36,109,000	85,809,000	71,045,000
Accounts payable	18,576,000		18,576,000		22,273,000
Hudson Yards Catering ("HYC") | Related Party
Related Party Transaction [Line Items]
Revenue from contract with customer	144,000	163,000	242,000	309,000
Accounts receivable, net	218,000		218,000		57,000
Madison Square Park Conservancy ("MSP Conservancy") | Related Party
Related Party Transaction [Line Items]
Occupancy and related expenses	229,000	224,000	458,000	448,000
Accrued expenses	20,000		20,000		0
Olo, Inc. | Related Party
Related Party Transaction [Line Items]
Other operating expenses	133,000	143,000	314,000	267,000
Accounts payable	222,000		222,000		116,000
Block, Inc. | Related Party
Related Party Transaction [Line Items]
Other operating expenses	3,170,000	$ 1,909,000	5,875,000	$ 3,585,000
Accounts payable	$ 0		$ 0		$ 59,000

RELATED PARTY TRANSACTIONS - Ta

RELATED PARTY TRANSACTIONS - Tax Receivable Agreement (Details) - USD ($) $ in Thousands	Jun. 26, 2024	Dec. 27, 2023
Related Party Transactions [Abstract]
Liabilities under tax receivable agreement, net of current portion	$ 246,878	$ 235,613

RELATED PARTY TRANSACTIONS - Di

RELATED PARTY TRANSACTIONS - Distributions to Members of SSE Holdings (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 26, 2024	Jun. 28, 2023	Jun. 26, 2024	Jun. 28, 2023
Related Party Transactions [Abstract]
Distributions paid to non-controlling interest holders	$ 0	$ 3	$ 145	$ 52