NON-CONTROLLING INTERESTS

We are the sole managing member of SSE Holdings and, as a result, consolidate the financial results of SSE Holdings. We report a non-controlling interest representing the economic interest in SSE Holdings held by the other members of SSE Holdings. The SSE Holdings LLC Agreement provides that holders of LLC Interests may, from time to time, require SSE Holdings to redeem all or a portion of their LLC Interests for newly-issued shares of Class A common stock on a one-for-one basis. In connection with any redemption or exchange, we will receive a corresponding number of LLC Interests, increasing our total ownership interest in SSE Holdings. Changes in our ownership interest in SSE Holdings while we retain our controlling interest in SSE Holdings will be accounted for as equity transactions. As such, future redemptions or direct exchanges of LLC Interests in SSE Holdings by the other members of SSE Holdings will result in a change in ownership and reduce the amount recorded as non-controlling interest and increase additional paid-in capital.

The following table summarizes the ownership interest in SSE Holdings as of December 26, 2018 and December 27, 2017:



	2018			2017
	LLC Interests	Ownership %		LLC Interests	Ownership %
Number of LLC Interests held by Shake Shack Inc.	29,520,833	79.6	%	26,527,477	72.1	%
Number of LLC Interests held by non-controlling interest holders	7,557,347	20.4	%	10,250,007	27.9	%
Total LLC Interests outstanding	37,078,180	100.0	%	36,777,484	100.0	%

The weighted average ownership percentages for the applicable reporting periods are used to attribute net income and other comprehensive loss between Shake Shack Inc. and the non-controlling interest holders. The non-controlling interest holders' weighted average ownership percentage for fiscal 2018 and 2017 was 23.4% and 29.4%, respectively.

The following table summarizes the effects of changes in ownership in SSE Holdings on our equity during fiscal 2018, 2017 and 2016.



		2018		2017			2016
Net income (loss) attributable to Shake Shack Inc.		$	15,179	$	(320	)	$	12,446
Other comprehensive income (loss):
	Unrealized holding gains (losses) on available-for-sale securities	10		(34		)	(10		)
Transfers (to) from non-controlling interests:
	Increase in additional paid-in capital as a result of the redemption of LLC Interests	15,202		4,415			16,986
	Increase in additional paid-in capital as a result of activity under the stock compensation plan and the related income tax effect	2,509		4,451			825
Total effect of changes in ownership interest on equity attributable to Shake Shack Inc.		$	32,900	$	8,512		$	30,247

During fiscal 2018, an aggregate of 2,692,660 LLC Interests were redeemed by the non-controlling interest holders for newly-issued shares of Class A common stock, and we received 2,692,660 LLC Interests, increasing our total ownership interest in SSE Holdings to 79.6%. During 2017, an aggregate of 1,003,585 LLC Interests were redeemed by the non-controlling interest holders, and we received 1,003,585 LLC Interests, increasing our total ownership interest in SSE Holdings to 72.1%.

We received an aggregate of 300,696 and 372,508 LLC Interests in connection with the activity under our stock compensation plans during fiscal 2018 and 2017, respectively.