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SEC Filings

10-Q
CHIPOTLE MEXICAN GRILL INC filed this Form 10-Q on 07/26/2017
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Chipotle Mexican Grill, Inc.

Condensed Consolidated Statement of Operations and Comprehensive Income

(unaudited)

(in thousands, except per share data)



 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 



Three months ended June 30,

 

Six months ended June 30,



2017

 

2016

 

2017

 

2016

Revenue

$

1,169,409 

 

$

998,383 

 

$

2,238,238 

 

$

1,832,842 

Restaurant operating costs (exclusive of depreciation and amortization shown separately below):

 

 

 

 

 

 

 

 

 

 

 

Food, beverage and packaging

 

399,152 

 

 

341,902 

 

 

760,947 

 

 

636,068 

Labor

 

305,851 

 

 

276,926 

 

 

593,702 

 

 

534,607 

Occupancy

 

80,321 

 

 

72,354 

 

 

159,283 

 

 

142,946 

Other operating costs

 

163,685 

 

 

152,156 

 

 

314,294 

 

 

307,345 

General and administrative expenses

 

70,075 

 

 

70,756 

 

 

139,516 

 

 

132,766 

Depreciation and amortization

 

41,081 

 

 

36,074 

 

 

80,360 

 

 

70,862 

Pre-opening costs

 

2,903 

 

 

4,133 

 

 

6,972 

 

 

8,554 

(Gain) loss on disposal and impairment of assets

 

(384)

 

 

3,187 

 

 

3,266 

 

 

5,403 

Total operating expenses

 

1,062,684 

 

 

957,488 

 

 

2,058,340 

 

 

1,838,551 

Income (loss) from operations

 

106,725 

 

 

40,895 

 

 

179,898 

 

 

(5,709)

Interest and other income, net

 

1,049 

 

 

786 

 

 

2,237 

 

 

2,912 

Income (loss) before income taxes

 

107,774 

 

 

41,681 

 

 

182,135 

 

 

(2,797)

Benefit (provision) for income taxes

 

(41,044)

 

 

(16,085)

 

 

(69,285)

 

 

1,961 

Net income (loss)

$

66,730 

 

$

25,596 

 

$

112,850 

 

$

(836)

Other comprehensive income (loss), net of income taxes:

 

 

 

 

 

 

 

 

 

 

 

Foreign currency translation adjustments

 

2,136 

 

 

(765)

 

 

2,811 

 

 

1,164 

Unrealized gain (loss) on investments, net of tax benefit (expense) of $37, ($348), 131, and ($1,531)

 

(58)

 

 

509 

 

 

(240)

 

 

2,402 

Other comprehensive income (loss), net of income taxes

 

2,078 

 

 

(256)

 

 

2,571 

 

 

3,566 

Comprehensive income

$

68,808 

 

$

25,340 

 

$

115,421 

 

$

2,730 

Earnings (loss) per share:

 

 

 

 

 

 

 

 

 

 

 

Basic

$

2.33 

 

$

0.88 

 

$

3.93 

 

$

(0.03)

Diluted

$

2.32 

 

$

0.87 

 

$

3.92 

 

$

(0.03)

Weighted average common shares outstanding:

 

 

 

 

 

 

 

 

 

 

 

Basic

 

28,649 

 

 

29,207 

 

 

28,699 

 

 

29,550 

Diluted

 

28,800 

 

 

29,340 

 

 

28,825 

 

 

29,550 



See accompanying notes to condensed consolidated financial statements. 

  

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