Chipotle 2013 Annual Report Download - page 44
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CHIPOTLE MEXICAN GRILL, INC.
CONSOLIDATED STATEMENT OF INCOME AND COMPREHENSIVE INCOME
(in thousands, except per share data)
Years ended December 31
2013 2012 2011
Revenue .......................................... $ 3,214,591 $ 2,731,224 $ 2,269,548
Restaurant operating costs (exclusive of depreciation and
amortization shown separately below):
Food, beverage and packaging ................. 1,073,514 891,003 738,720
Labor ..................................... 739,800 641,836 543,119
Occupancy ................................ 199,107 171,435 147,274
Other operating costs ........................ 347,401 286,610 251,208
General and administrative expenses .................... 203,733 183,409 149,426
Depreciation and amortization ......................... 96,054 84,130 74,938
Pre-opening costs ................................... 15,511 11,909 8,495
Loss on disposal of assets ............................. 6,751 5,027 5,806
Total operating expenses ......................... 2,681,871 2,275,359 1,918,986
Income from operations .............................. 532,720 455,865 350,562
Interest and other income (expense), net ................. 1,751 1,820 (857)
Income before income taxes ........................... 534,471 457,685 349,705
Provision for income taxes ............................ (207,033) (179,685) (134,760)
Net income ........................................ $ 327,438 $ 278,000 $ 214,945
Other comprehensive income:
Foreign currency translation adjustments ................. 596 827 (409)
Comprehensive income .............................. $ 328,034 $ 278,827 $ 214,536
Earnings per share:
Basic ............................................. $ 10.58 $ 8.82 $ 6.89
Diluted ........................................... $ 10.47 $ 8.75 $ 6.76
Weighted average common shares outstanding:
Basic ............................................. 30,957 31,513 31,217
Diluted ........................................... 31,281 31,783 31,775
See accompanying notes to consolidated financial statements.
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Annual Report