v3.26.3
NONCONTROLLING INTEREST
9 Months Ended
Sep. 27, 2026
Noncontrolling Interest [Abstract]  
NONCONTROLLING INTEREST NONCONTROLLING INTEREST
The Corporation is the sole managing member of Jersey Mike's Holdings and, as a result, consolidates the financial results of Jersey Mike's Holdings and its subsidiaries. The Company reports a noncontrolling interest representing the Common Units of Jersey Mike's Holdings held by the continuing common unitholders (the “Continuing Common Unitholders”). Subject to the terms of the exchange agreement, Continuing Common Unitholders may exchange Common Units for shares of Class A common stock.
The following table summarizes the ownership interests of Common Units of Jersey Mike's Holdings:
September 27, 2026July 31, 2026
Ownership InterestsOwnership %Ownership InterestsOwnership %
Jersey Mike's Subs Inc.233.4 73.5 %232.8 73.3 %
Continuing Common Unitholders84.2 26.5 %84.8 26.7 %
Total317.6 100.0 %317.6 100.0 %
Net income (loss) of Jersey Mike's Holdings for periods after the IPO is attributed to the noncontrolling interest based on the weighted-average Common Units held by the Continuing Common Unitholders during the period. Net income (loss) for periods before the IPO is attributed entirely to the pre-IPO owners and is not allocated to the noncontrolling interest.