Chipotle 2009 Annual Report Download - page 26

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ITEM 6. SELECTED CONSOLIDATED FINANCIAL DATA
Our selected consolidated financial data shown below should be read together with our Item 7.
“Management’s Discussion and Analysis of Financial Condition and Results of Operations” and our consolidated
financial statements and respective notes included in Item 8. “Financial Statements and Supplementary Data”.
The data shown below are not necessarily indicative of results to be expected for any future period (in thousands,
except per share data).
For the years ended December 31,
2009 2008 2007 2006 2005
Statements of Income:
Total revenue ............................ $1,518,417 $1,331,968 $1,085,782 $822,930 $627,695
Food, beverage and packaging costs .......... 466,027 431,947 346,393 257,998 202,288
Labor costs ............................. 385,072 351,005 289,417 231,134 178,721
Occupancy costs ......................... 114,218 98,071 75,891 58,804 47,636
Other operating costs ...................... 174,581 164,018 131,512 102,745 82,976
General and administrative expenses ......... 99,149 89,155 75,038 65,284 51,964
Depreciation and amortization .............. 61,308 52,770 43,595 34,253 28,026
Pre-opening costs ........................ 8,401 11,624 9,585 6,778 1,971
Loss on disposal of assets .................. 5,956 9,339 6,168 3,982 3,119
Total costs and expenses ................... 1,314,712 1,207,929 977,599 760,978 596,701
Income from operations ................... 203,705 124,039 108,183 61,952 30,994
Interest and other income .................. 925 3,469 6,115 6,574 36
Interest and other expense .................. (405) (302) (296) (271) (790)
Income before income taxes ................ 204,225 127,206 114,002 68,255 30,240
(Provision) benefit for income taxes .......... (77,380) (49,004) (43,439) (26,832) 7,456
Net income ............................. $ 126,845 $ 78,202 $ 70,563 $ 41,423 $ 37,696
Earnings per share
Basic .............................. $ 3.99 $ 2.39 $ 2.16 $ 1.29 $ 1.43
Diluted ............................. $ 3.95 $ 2.36 $ 2.13 $ 1.28 $ 1.43
Shares used in computing earnings per share
Basic .............................. 31,766 32,766 32,672 32,051 26,281
Diluted ............................. 32,102 33,146 33,146 32,465 26,374
As of December 31,
2009 2008 2007 2006 2005
Balance Sheet Data:
Total current assets ....................... $ 297,454 $ 211,072 $ 201,844 $178,837 $ 17,824
Total assets ............................. $ 961,505 $ 824,985 $ 722,115 $604,208 $392,495
Total current liabilities .................... $ 102,153 $ 76,788 $ 73,301 $ 61,201 $ 41,982
Total liabilities .......................... $ 258,044 $ 202,395 $ 160,005 $130,251 $ 83,141
Total shareholders’ equity .................. $ 703,461 $ 622,590 $ 562,110 $473,957 $309,354
24
Annual Report