Shake Shack Inc
For the period ended Sep 25, 2024. Filed Oct 31, 2024.
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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.
Sep 25, 2024 · Filed Oct 31, 2024
SHAK$75.90-1.6%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows
(in thousands)
| Thirty-Nine Weeks Ended | ||||||
|---|---|---|---|---|---|---|
| September 252024 · September 272023 | ||||||
| OPERATING ACTIVITIES | ||||||
| Net income (including amounts attributable to non-controlling interests) | $1,487 | $13,737 | ||||
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||||
| Depreciation and amortization expense | 76,659 | 66,704 | ||||
| Amortization of debt issuance costs | 786 | 786 | ||||
| Amortization of cloud computing assets | 1,577 | 1,320 | ||||
| Non-cash operating lease cost | 57,484 | 49,775 | ||||
| Equity-based compensation | 11,539 | 11,220 | ||||
| Deferred income taxes | (4,122) | 7,092 | ||||
| Non-cash interest | (123) | 94 | ||||
| Gain on sale of equity securities | — | (81) | ||||
| Net amortization of discount on held-to-maturity securities | (440) | (939) | ||||
| Impairments, loss on disposal of assets, and Shack closures | 28,703 | 2,098 | ||||
| Changes in operating assets and liabilities: | ||||||
| Accounts receivable | 104 | (12) | ||||
| Inventories | 258 | (424) | ||||
| Prepaid expenses and other current assets | (3,781) | (3,056) | ||||
| Other assets | (2,489) | (4,750) | ||||
| Accounts payable | (3,907) | (5,064) | ||||
| Accrued expenses | 10,123 | (6,424) | ||||
| Accrued wages and related liabilities | 1,016 | 555 | ||||
| Other current liabilities | (1,385) | (2,757) | ||||
| Operating lease liabilities | (49,159) | (41,725) | ||||
| Other long-term liabilities | 1,742 | 2,442 | ||||
| NET CASH PROVIDED BY OPERATING ACTIVITIES | 126,072 | 90,591 | ||||
| INVESTING ACTIVITIES | ||||||
| Purchases of property and equipment | (100,801) | (113,033) | ||||
| Purchases of held-to-maturity securities | — | (94,019) | ||||
| Maturities of held-to-maturity marketable securities | 69,420 | — | ||||
| Purchases of equity securities | — | (690) | ||||
| Sales of equity securities | — | 81,478 | ||||
| NET CASH USED IN INVESTING ACTIVITIES | (31,381) | (126,264) | ||||
| FINANCING ACTIVITIES | ||||||
| Payments on principal of finance leases | (2,921) | (2,383) | ||||
| Distributions paid to non-controlling interest holders | (208) | (131) | ||||
| Net proceeds from stock option exercises | 795 | 631 | ||||
| Employee withholding taxes related to net settled equity awards | (6,146) | (2,942) | ||||
| NET CASH USED IN FINANCING ACTIVITIES | (8,480) | (4,825) | ||||
| Effect of exchange rate changes on cash and cash equivalents | 1 | (3) | ||||
| INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | 86,212 | (40,501) | ||||
| CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD | 224,653 | 230,521 | ||||
| CASH AND CASH EQUIVALENTS AT END OF PERIOD | $310,865 | $190,020 | ||||
8 |Shake Shack Inc. Form 10-Q
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