Shake Shack 2016 Annual Report Download - page 108
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Table of Contents
Schedule I: Condensed Financial Information of Registrant (continued)
SHAKE SHACK INC.
CONDENSED STATEMENTS OF CASH FLOWS
(PARENT COMPANY ONLY)
(in thousands)
Fiscal Year Ended
December 30
2015
December 31
2014
OPERATING ACTIVITIES
Net income $ 4,273
$ —
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in net income of subsidiaries (6,906)
—
Equity-based compensation 330
—
Deferred income taxes (551)
—
Changes in operating assets and liabilities:
Due from SSE Holdings 4
—
Accrued expenses 58
—
Income taxes payable 3,184
—
NET CASH PROVIDED BY OPERATING ACTIVITIES 392
—
INVESTING ACTIVITIES
Purchases of LLC Interests from SSE Holdings (112,298)
—
NET CASH USED IN INVESTING ACTIVITIES (112,298)
—
FINANCING ACTIVITIES
Proceeds from issuance of Class A common stock sold in initial public offering, net of underwriting discounts and
commissions 112,298
—
Proceeds from issuance of Class B common stock 30
—
NET CASH PROVIDED BY FINANCING ACTIVITIES 112,328
—
INCREASE IN CASH 422
—
CASH AT BEGINNING OF PERIOD —
—
CASH AT END OF PERIOD $ 422
$ —
Non-cash investing activities:
Class A common stock issued in connection with the acquisition of the Former SSE Equity Owners $ 6
$ —
Class A common stock issued in connection with the USC Merger 2
—
Class A common stock issued in connection with the acquisition of LLC Interests upon redemption by the Continuing
SSE Equity Owners 19,933
—
Non-cash financing activities:
Cancellation of Class B common stock in connection with the Organizational Transactions (6)
—
Cancellation of Class B common stock in connection with the redemption of LLC Interests (6)
—
Cancellation of Class B common stock in connection with the USC Merger (2)
—
Establishment of liabilities under tax receivable agreement 173,090
—
See accompanying Notes to Condensed Financial Statements.
Shake Shack Inc. Form 10-K | 106