Shake Shack 2016 Annual Report Download - page 59

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Table of Contents
owned the remaining 66.7% of SSE Holdings. As of December 30, 2015 , we owned 54.6% of SSE Holdings and the Continuing SSE Equity Owners own the
remaining 45.4% of SSE Holdings
The result of the foregoing is that, in fiscal 2015, we began reporting net income attributable to non-controlling interests. For fiscal 2015 , net income attributable
to non-controlling interests totaled $11.9 million , which represents the Continuing SSE Equity Owners' pro rata share of the net income of SSE Holdings
subsequent to the IPO and Organizational Transactions. As the non-recurring compensation expenses and other IPO-related expenses were incurred in the period
prior to the Organizational Transactions, no portion of these expenses were attributed to the non-controlling interest holders. As a result, the net income attributable
to non-controlling interests is significantly higher than the consolidated net income for the period. For periods prior to the IPO and Organizational Transactions,
there were no non-controlling interests.
57 | Shake Shack Inc. Form 10-K