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SEC Filings

10-K
CHIPOTLE MEXICAN GRILL INC filed this Form 10-K on 02/08/2018
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CHIPOTLE MEXICAN GRILL, INC.

CONSOLIDATED STATEMENT OF CASH FLOWS

(in thousands)

 





 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 



Year ended December 31,



2017

 

2016

 

2015

Operating activities

 

 

 

 

 

 

 

 

Net income

$

176,253 

 

$

22,938 

 

$

475,602 

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

 

 

 

 

 

 

 

 

Depreciation and amortization

 

163,348 

 

 

146,368 

 

 

130,368 

Deferred income tax (benefit) provision

 

(18,026)

 

 

(14,207)

 

 

11,666 

Loss on disposal and impairment of assets

 

13,345 

 

 

23,877 

 

 

13,194 

Bad debt allowance

 

214 

 

 

(262)

 

 

(23)

Stock-based compensation expense

 

65,255 

 

 

64,166 

 

 

57,911 

Excess tax benefit on stock-based compensation

 

 -

 

 

(1,320)

 

 

(74,442)

Other

 

(218)

 

 

(604)

 

 

582 

Changes in operating assets and liabilities:

 

 

 

 

 

 

 

 

Accounts receivable

 

(140)

 

 

(1,923)

 

 

(3,504)

Inventory

 

(5,250)

 

 

(91)

 

 

262 

Prepaid expenses and other current assets

 

(6,710)

 

 

(4,259)

 

 

(5,259)

Other assets

 

(2,587)

 

 

(4,855)

 

 

(5,619)

Accounts payable

 

10,908 

 

 

(6,734)

 

 

19,525 

Accrued liabilities

 

38,574 

 

 

33,491 

 

 

(7,440)

Income tax payable/receivable

 

(4,173)

 

 

54,340 

 

 

32,756 

Deferred rent

 

29,996 

 

 

37,030 

 

 

32,911 

Other long-term liabilities

 

6,316 

 

 

1,287 

 

 

4,826 

Net cash provided by operating activities

 

467,105 

 

 

349,242 

 

 

683,316 

Investing activities

 

 

 

 

 

 

 

 

Purchases of leasehold improvements, property and equipment

 

(216,777)

 

 

(258,842)

 

 

(257,418)

Purchases of investments

 

(199,801)

 

 

 -

 

 

(559,372)

Maturities of investments

 

330,000 

 

 

45,000 

 

 

352,650 

Proceeds from sale of investments

 

 -

 

 

540,648 

 

 

 -

Net cash provided by (used in) investing activities

 

(86,578)

 

 

326,806 

 

 

(464,140)

Financing activities

 

 

 

 

 

 

 

 

Acquisition of treasury stock

 

(285,920)

 

 

(837,655)

 

 

(460,675)

Excess tax benefit on stock-based compensation

 

 -

 

 

1,320 

 

 

74,442 

Stock plan transactions and other financing activities

 

26 

 

 

52 

 

 

(207)

Net cash used in financing activities

 

(285,894)

 

 

(836,283)

 

 

(386,440)

Effect of exchange rate changes on cash and cash equivalents

 

2,056 

 

 

110 

 

 

(4,196)

Net change in cash and cash equivalents

 

96,689 

 

 

(160,125)

 

 

(171,460)

Cash and cash equivalents at beginning of year

 

87,880 

 

 

248,005 

 

 

419,465 

Cash and cash equivalents at end of year

$

184,569 

 

$

87,880 

 

$

248,005 

Supplemental disclosures of cash flow information

 

 

 

 

 

 

 

 

Income taxes paid

$

119,787 

 

$

23,862 

 

$

248,547 

Increase (decrease) in purchases of leasehold improvements, property, and equipment accrued in accounts payable and accrued liabilities

$

(7,690)

 

$

(1,781)

 

$

(2,870)

Increase (decrease) in acquisition of treasury stock accrued in accrued liabilities

$

(900)

 

$

(22,778)

 

$

25,178 



See accompanying notes to consolidated financial statements.

 

45

 


 

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