Shake Shack Inc

For the period ended Mar 27, 2024. Filed May 3, 2024.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Mar 27, 2024 · Filed May 3, 2024

SHAK$75.90-1.6%Stored close · as of Nov 10, 2026

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Contents

Condensed Consolidated Statements of Cash Flows

(in thousands)

	Thirteen Weeks Ended
March 272024 · March 292023
OPERATING ACTIVITIES
Net income (loss) (including amounts attributable to non-controlling interests)		$2,214				$(1,622)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
	Depreciation and amortization expense	25,441			21,322
	Amortization of debt issuance costs	262			262
	Amortization of cloud computing asset	518			439
	Non-cash operating lease cost	18,490			16,075
	Equity-based compensation	3,642			3,802
	Deferred income taxes	(131)			1,917
	Non-cash interest	(164)			58
	Gain on sale of equity securities	—			(81)
	Net amortization of discount on held-to-maturity securities	(370)			—
	Impairment and loss on disposal of assets	526			722
	Changes in operating assets and liabilities:
		Accounts receivable	2,389			3,354
		Inventories	331			(210)
		Prepaid expenses and other current assets	(2,757)			(1,580)
		Other assets	(650)			(1,218)
		Accounts payable	(3,760)			(5,799)
		Accrued expenses	2,027			(2,018)
		Accrued wages and related liabilities	(1,696)			1,068
		Other current liabilities	709			(2,389)
		Operating lease liabilities	(17,213)			(16,830)
		Other long-term liabilities	857			2,548
NET CASH PROVIDED BY OPERATING ACTIVITIES	30,665			19,820
INVESTING ACTIVITIES
Purchases of property and equipment	(33,054)			(34,326)
Maturities of held-to-maturity marketable securities	44,361			—
Purchases of equity securities	—			(690)
Sales of equity securities	—			81,478
NET CASH PROVIDED BY INVESTING ACTIVITIES	11,307			46,462
FINANCING ACTIVITIES
Payments on principal of finance leases	(910)			(807)
Distributions paid to non-controlling interest holders	(145)			(49)
Net proceeds from stock option exercises	474			113
Employee withholding taxes related to net settled equity awards	(5,840)			(2,626)
NET CASH USED IN FINANCING ACTIVITIES	(6,421)			(3,369)
Effect of exchange rate changes on cash and cash equivalents	(1)			(4)
INCREASE IN CASH AND CASH EQUIVALENTS	35,550			62,909
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	224,653			230,521
CASH AND CASH EQUIVALENTS AT END OF PERIOD		$260,203				$293,430

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.