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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 Cash Flows

(unaudited)

(in thousands)

































 

 

 

 

 



 

 

 

 

 



Six months ended June 30,



2017

 

2016

Operating activities

 

 

 

 

 

Net income (loss)

$

112,850 

 

$

(836)

Adjustments to reconcile net income (loss) to net cash provided by operating activities:

 

 

 

 

 

Depreciation and amortization

 

80,360 

 

 

70,862 

Deferred income tax (benefit) provision

 

(5,939)

 

 

3,789 

Loss on disposal and impairment of assets

 

3,266 

 

 

5,403 

Bad debt allowance

 

181 

 

 

(120)

Stock-based compensation expense

 

36,846 

 

 

30,038 

Excess tax benefit on stock-based compensation

 

 -

 

 

(1,982)

Other

 

(107)

 

 

(352)

Changes in operating assets and liabilities:

 

 

 

 

 

Accounts receivable

 

15,372 

 

 

15,201 

Inventory

 

(4,530)

 

 

(1,921)

Prepaid expenses and other current assets

 

(6,143)

 

 

(12,267)

Other assets

 

(984)

 

 

1,832 

Accounts payable

 

8,271 

 

 

(13,675)

Accrued liabilities

 

(21,856)

 

 

31,973 

Income tax payable/receivable

 

8,480 

 

 

34,919 

Deferred rent

 

15,463 

 

 

16,944 

Other long-term liabilities

 

2,052 

 

 

(143)

Net cash provided by operating activities

 

243,582 

 

 

179,665 

Investing activities

 

 

 

 

 

Purchases of leasehold improvements, property and equipment

 

(113,715)

 

 

(126,712)

Purchases of investments

 

(19,922)

 

 

 -

Maturities of investments

 

80,000 

 

 

45,000 

Proceeds from sale of investments

 

 -

 

 

540,648 

Net cash provided by (used in) investing activities

 

(53,637)

 

 

458,936 

Financing activities

 

 

 

 

 

Acquisition of treasury stock

 

(103,827)

 

 

(700,036)

Excess tax benefit on stock-based compensation

 

 -

 

 

1,982 

Stock plan transactions and other financing activities

 

 

 

12 

Net cash used in financing activities

 

(103,818)

 

 

(698,042)

Effect of exchange rate changes on cash and cash equivalents

 

1,130 

 

 

1,396 

Net change in cash and cash equivalents

 

87,257 

 

 

(58,045)

Cash and cash equivalents at beginning of period

 

87,880 

 

 

248,005 

Cash and cash equivalents at end of period

$

175,137 

 

$

189,960 

























See accompanying notes to condensed consolidated financial statements.

 

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