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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 Cash Flows

(unaudited)

(in thousands)













































 

 

 

 

 



 

 

 

 

 



Nine months ended September 30,



2017

 

2016

Operating activities

 

 

 

 

 

Net income

$

132,460 

 

$

6,963 

Adjustments to reconcile net income to net cash provided by operating activities:

 

 

 

 

 

Depreciation and amortization

 

121,906 

 

 

108,296 

Deferred income tax (benefit) provision

 

(11,323)

 

 

380 

Loss on disposal and impairment of assets

 

10,013 

 

 

22,040 

Bad debt allowance

 

181 

 

 

99 

Stock-based compensation expense

 

54,596 

 

 

48,389 

Excess tax benefit on stock-based compensation

 

 -

 

 

(1,888)

Other

 

(126)

 

 

(224)

Changes in operating assets and liabilities:

 

 

 

 

 

Accounts receivable

 

16,477 

 

 

16,084 

Inventory

 

(7,023)

 

 

(3,442)

Prepaid expenses and other current assets

 

(4,890)

 

 

(5,362)

Other assets

 

(1,382)

 

 

1,509 

Accounts payable

 

14,771 

 

 

(11,938)

Accrued liabilities

 

35,514 

 

 

36,245 

Income tax payable/receivable

 

(7,810)

 

 

36,026 

Deferred rent

 

22,410 

 

 

27,319 

Other long-term liabilities

 

3,060 

 

 

576 

Net cash provided by operating activities

 

378,834 

 

 

281,072 

Investing activities

 

 

 

 

 

Purchases of leasehold improvements, property and equipment

 

(165,506)

 

 

(192,252)

Purchases of investments

 

(120,084)

 

 

 -

Maturities of investments

 

140,000 

 

 

45,000 

Proceeds from sale of investments

 

 -

 

 

540,648 

Net cash provided by (used in) investing activities

 

(145,590)

 

 

393,396 

Financing activities

 

 

 

 

 

Acquisition of treasury stock

 

(209,585)

 

 

(771,354)

Excess tax benefit on stock-based compensation

 

 -

 

 

1,888 

Stock plan transactions and other financing activities

 

10 

 

 

23 

Net cash used in financing activities

 

(209,575)

 

 

(769,443)

Effect of exchange rate changes on cash and cash equivalents

 

1,931 

 

 

1,098 

Net change in cash and cash equivalents

 

25,600 

 

 

(93,877)

Cash and cash equivalents at beginning of period

 

87,880 

 

 

248,005 

Cash and cash equivalents at end of period

$

113,480 

 

$

154,128 

























See accompanying notes to condensed consolidated financial statements.

 

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