Non-controlling Interests (Tables)

3 Months Ended

Mar. 27, 2018

Summary of Net Income Attributable to Non-Controlling Interests

The non-controlling interests upon the completion of the IPO was 65.5%. Upon completion of the follow-on offering in April 2015, the non-controlling interests portion was 47.1%. The non-controlling interests portion changes as Continuing LLC Owners exchange their LLC Units, together with a corresponding number of shares of Class B common stock, for Class A common stock. The non-controlling interests on the condensed consolidated balance sheet were adjusted to reflect the non-controlling interests portion as of March 27, 2018, which was 21.4%. The amounts of these changes are reflected in the condensed consolidated statements of stockholders’ equity. The amount recorded in equity for the 13 weeks ended March 27, 2018 was $0.4 million. Net income attributable to non-controlling interests is calculated based on the non-controlling interests ownership percentage in effect at that time. The following table represents the weighted average non-controlling interests for the periods presented (dollar amounts in thousands):

	13 Weeks Ended
	March 27,			March 28,
	2018			2017
Income before income taxes and Tax Receivable Agreement liability adjustment⁽¹⁾	$	169		$	4,002
Weighted average non-controlling interests ownership percentage		20.7	%		22.6	%
Net income attributable to non-controlling interests	$	35		$	904

⁽¹⁾

Tax Receivable Agreement liability adjustment also includes interest expense, net recorded at Habit Restaurants, Inc. These amounts are included in the Tax Receivable Agreement liability adjustment and interest expense, net lines in the condensed consolidated statements of income.