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SEC Filings

10-Q
CHIPOTLE MEXICAN GRILL INC filed this Form 10-Q on 10/25/2017
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Chipotle Mexican Grill, Inc.

Condensed Consolidated Statement of Income

(unaudited)

(in thousands, except per share data)













 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 



Three months ended September 30,

 

Nine months ended September 30,



2017

 

2016

 

2017

 

2016

Revenue

$

1,128,074 

 

$

1,036,982 

 

$

3,366,312 

 

$

2,869,824 

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

 

 

 

 

 

 

 

 

 

 

 

Food, beverage and packaging

 

394,567 

 

 

363,900 

 

 

1,155,514 

 

 

999,968 

Labor

 

306,862 

 

 

286,144 

 

 

900,564 

 

 

820,751 

Occupancy

 

83,199 

 

 

74,201 

 

 

242,482 

 

 

217,147 

Other operating costs

 

162,312 

 

 

166,045 

 

 

476,606 

 

 

473,390 

General and administrative expenses

 

99,182 

 

 

78,405 

 

 

238,698 

 

 

211,171 

Depreciation and amortization

 

41,546 

 

 

37,434 

 

 

121,906 

 

 

108,296 

Pre-opening costs

 

2,792 

 

 

4,490 

 

 

9,764 

 

 

13,044 

Loss on disposal and impairment of assets

 

6,747 

 

 

16,637 

 

 

10,013 

 

 

22,040 

Total operating expenses

 

1,097,207 

 

 

1,027,256 

 

 

3,155,547 

 

 

2,865,807 

Income from operations

 

30,867 

 

 

9,726 

 

 

210,765 

 

 

4,017 

Interest and other income, net

 

1,275 

 

 

672 

 

 

3,512 

 

 

3,584 

Income before income taxes

 

32,142 

 

 

10,398 

 

 

214,277 

 

 

7,601 

Provision for income taxes

 

(12,532)

 

 

(2,599)

 

 

(81,817)

 

 

(638)

Net income

$

19,610 

 

$

7,799 

 

$

132,460 

 

$

6,963 

Earnings per share:

 

 

 

 

 

 

 

 

 

 

 

Basic

$

0.69 

 

$

0.27 

 

$

4.63 

 

$

0.24 

Diluted

$

0.69 

 

$

0.27 

 

$

4.62 

 

$

0.23 

Weighted average common shares outstanding:

 

 

 

 

 

 

 

 

 

 

 

Basic

 

28,415 

 

 

29,063 

 

 

28,604 

 

 

29,387 

Diluted

 

28,439 

 

 

29,171 

 

 

28,696 

 

 

29,792 







Condensed Consolidated Statement of Comprehensive Income

(unaudited)

(in thousands)





 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 



Three months ended September 30,

 

Nine months ended September 30,



2017

 

2016

 

2017

 

2016

Net income

$

19,610 

 

$

7,799 

 

$

132,460 

 

$

6,963 

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

 

 

 

 

 

 

 

 

 

 

 

Foreign currency translation adjustments

 

1,778 

 

 

(203)

 

 

4,589 

 

 

961 

Unrealized gain (loss) on available-for-sale securities

 

272 

 

 

(882)

 

 

(99)

 

 

3,051 

Tax benefit (expense)

 

(104)

 

 

346 

 

 

27 

 

 

(1,185)

Other comprehensive income (loss), net of income taxes

 

1,946 

 

 

(739)

 

 

4,517 

 

 

2,827 

Comprehensive income

$

21,556 

 

$

7,060 

 

$

136,977 

 

$

9,790 



See accompanying notes to condensed consolidated financial statements.

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