26 unchanged sentences
Selected Financial Data.
−Removed: The selected financial and operating data set forth below was derived from our audited consolidated financial statements and should be read in conjunction with Item 1A, "Risk Factors," Item 7, "Management's Discussion and Analysis of Financial Condition and Results of Operations" and our audited consolidated financial statements included in Item 8, "Financial Statements and Supplementary Data."
−Removed: (dollar amounts in thousands, except per share amounts) 2020 1
−Removed: 2019 2018 2017 2016
−Removed: Selected statement of income data:
−Removed: Shack sales $ 506,339 $ 574,625 $ 445,589 $ 346,388 $ 259,350
−Removed: Licensing revenue (2)
−Removed: 16,528 19,894 13,721 12,422 9,125
−Removed: Shack-level operating expenses 434,961 446,607 332,683 254,079 186,058
−Removed: General and administrative expenses 64,250 65,649 52,720 39,003 30,556
−Removed: Pre-opening costs 8,580 14,834 12,279 9,603 9,520
−Removed: Operating income (loss) (43,876) 25,685 31,711 33,813 27,805
−Removed: Net income (loss) (45,534) 24,128 21,948 8,884 22,146
−Removed: Net income (loss) attributable to Shake Shack Inc.
−Removed: (42,158) 19,827 15,179 (320) 12,446
−Removed: Per share data:
−Removed: Earnings (loss) per share—basic $ (1.14) $ 0.63 $ 0.54 $ (0.01) $ 0.54
−Removed: Earnings (loss) per share—diluted $ (1.14) $ 0.61 $ 0.52 $ (0.01) $ 0.53
−Removed: Selected balance sheet data (at period end):
−Removed: Cash and cash equivalents $ 146,873 $ 37,099 $ 24,750 $ 21,507 $ 11,607
−Removed: Short-term marketable securities 36,887 36,508 62,113 63,036 62,040
−Removed: Total current assets 203,186 87,675 101,119 93,199 83,944
−Removed: Total assets 1,145,348 968,268 610,532 470,606 538,194
−Removed: Total current liabilities 109,705 99,392 59,948 34,024 31,716
−Removed: Total debt — — 20,846 14,518 2,007
−Removed: Total liabilities 710,855 646,283 337,077 246,127 336,841
−Removed: Total equity 434,493 321,985 273,455 224,479 201,353
−Removed: Selected cash flow data:
−Removed: Net cash provided by operating activities $ 37,350 $ 89,857 $ 85,395 $ 70,878 $ 54,285
−Removed: Net cash used in investing activities (69,397) (80,686) (86,604) (61,943) (114,761)
−Removed: Net cash provided by financing activities 141,821 3,178 4,452 965 1,234
−Removed: Shake Shack Inc.
−Removed: Form 10-K | 51
−Removed: (dollar amounts in thousands) 2020 1
−Removed: 2019 2018 2017 2016
−Removed: Selected operating data:
−Removed: Shack system-wide sales (3)
−Removed: $ 778,861 $ 895,288 $ 671,926 $ 532,137 $ 402,791
−Removed: Same-Shack sales % (4)
−Removed: (27.8) % 1.3 % 1.0 % (1.2) % 4.2 %
−Removed: Shacks in the comparable base 114 85 61 43 29
−Removed: Average weekly sales (5) :
−Removed: Domestic Company-operated $ 58 $ 79 $ 84 $ 88 $ 96
−Removed: Average unit volumes (6) :
−Removed: Domestic Company-operated $ 3,020 $ 4,090 $ 4,390 $ 4,598 $ 4,981
−Removed: International licensed $ 2,766 $ 3,367 $ 3,047 $ 3,176 $ 3,334
−Removed: Shack-level operating profit (7)
−Removed: $ 71,378 $ 128,018 $ 112,906 $ 92,309 $ 73,292
−Removed: Shack-level operating profit margin (7)
−Removed: 14.1 % 22.3 % 25.3 % 26.6 % 28.3 %
−Removed: Adjusted EBITDA (8)
−Removed: $ 22,739 $ 81,840 $ 73,850 $ 64,664 $ 50,234
−Removed: Adjusted EBITDA margin (8)
−Removed: 4.3 % 13.8 % 16.1 % 18.0 % 18.7 %
−Removed: Shack counts (at end of period):
−Removed: System-wide 311 275 208 159 114
−Removed: Domestic Company-operated 183 163 124 90 64
−Removed: Domestic licensed 22 22 12 10 7
−Removed: International licensed 106 90 72 59 43
−Removed: (1) We operate on a 52/53 week fiscal year that ends on the last Wednesday of the calendar year.
−Removed: Fiscal year 2020 was a 53-week year with the extra operating week (the " 53rd week ") falling in our fiscal fourth quarter.
−Removed: Fiscal 2019, fiscal 2018, fiscal 2017 and fiscal 2016 each contained 52 weeks.
−Removed: (2) On December 28, 2017 we adopted Accounting Standards Update ("ASU") 2014-09, Revenue from Contracts with Customers (Topic 606).
−Removed: Results for reporting periods beginning on or after December 28, 2017 are presented under Accounting Standards Codification Topic 606 ("ASC 606").
−Removed: Prior period amounts were not revised and continue to be reported in accordance with Accounting Standards Codification Topic 605 ("ASC 605"), the accounting standard then in effect.
−Removed: See Note 3, Revenue, to the consolidated financial statements for more information.
−Removed: (3) Shack system-wide sales is an operating measure and consists of sales from our domestic Company-operated Shacks, domestic licensed Shacks and our international licensed Shacks.
−Removed: We do not recognize the sales from our licensed Shacks as revenue.
−Removed: Of these amounts, our revenue is limited to Shack sales from domestic Company-operated Shacks and licensing revenue based on a percentage of sales from domestic and international licensed Shacks, as well as certain up-front fees such as territory and opening fees.
−Removed: (4) Same-Shack sales % reflects the change in year-over-year Shack sales for domestic Company-operated Shacks open for 24 full fiscal months or longer.
−Removed: Fiscal 2020 excludes the impact of the 53rd week.
−Removed: For fiscal 2020, same-Shack sales compares the 52 weeks from December 26, 2019 through December 23, 2020 to the 52 weeks from December 27, 2018 through December 25, 2019.
−Removed: In order to compare like-for-like periods for fiscal 2021, same-Shack sales will compare the 52 weeks from December 31, 2020 through December 29, 2021 to the 52 weeks from January 2, 2020 through December 30, 2020.
−Removed: (5) Average weekly sales is calculated by dividing total Shack sales by the number of operating weeks for all Shacks in operation during the period.
−Removed: For Shacks that are not open for the entire period, fractional adjustments are made to the number of operating weeks used in the denominator such that it corresponds to the period of associated sales.
−Removed: (6) Average unit volumes are calculated by dividing total Shack sales by the number of Shacks open during the period.
−Removed: For Shacks that are not open for the entire period, fractional adjustments are made to the number of Shacks used in the denominator such that it corresponds to the period of associated sales.
−Removed: (7) See "Non-GAAP Measures—Shack-Level Operating Profit" on page 65 for additional information and a reconciliation to the most directly comparable GAAP financial measure.
−Removed: (8) See "Non-GAAP Measures—EBITDA and Adjusted EBITDA" on page 66 for additional information and a reconciliation to the most directly comparable GAAP financial measure.
+Added: Not applicable.
Shake Shack Inc.
1 unchanged sentence
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.