Chipotle 2006 Annual Report Download - page 43

Download and view the complete annual report

Please find page 43 of the 2006 Chipotle annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 68

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68

Chipotle Mexican Grill, Inc.
Consolidated Statement of Income
(in thousands, except per share data)
Years ended December 31
2006 2005 2004
Revenue:
Restaurant sales ................................................. $819,787 $625,077 $468,579
Franchise royalties and fees ........................................ 3,143 2,618 2,142
Total revenue ................................................... 822,930 627,695 470,721
Restaurant operating costs (exclusive of depreciation and amortization shown
separately below):
Food, beverage and packaging .................................. 257,998 202,288 154,148
Labor ..................................................... 231,134 178,721 139,494
Occupancy ................................................. 58,804 47,636 36,190
Other operating costs ......................................... 102,745 82,976 64,274
General and administrative expenses ................................. 65,284 51,964 44,837
Depreciation and amortization ...................................... 34,253 28,026 21,802
Pre-opening costs ................................................ 6,778 1,971 2,192
Loss on disposal of assets .......................................... 3,982 3,119 1,678
760,978 596,701 464,615
Income from operations ........................................... 61,952 30,994 6,106
Interest income .................................................. 6,574 36 211
Interest expense ................................................. (271) (790) (191)
Income before income taxes ........................................ 68,255 30,240 6,126
(Provision) benefit for income taxes ................................. (26,832) 7,456 —
Net income ..................................................... $ 41,423 $ 37,696 $ 6,126
Earnings per share
Basic ...................................................... $ 1.29 $ 1.43 $ 0.24
Diluted .................................................... $ 1.28 $ 1.43 $ 0.24
Weighted average common shares outstanding
Basic ...................................................... 32,051 26,281 25,454
Diluted .................................................... 32,465 26,374 25,520
See accompanying notes to consolidated financial statements.
37