Chipotle 2009 Annual Report Download - page 39

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CHIPOTLE MEXICAN GRILL, INC.
CONSOLIDATED BALANCE SHEET
(in thousands, except per share data)
December 31
2009 2008
Assets
Current assets:
Cash and cash equivalents .............................................. $219,566 $ 88,044
Accounts receivable, net of allowance for doubtful accounts of $339 and $608 as of
December 31, 2009 and 2008, respectively ............................... 4,763 3,643
Inventory ........................................................... 5,614 4,789
Current deferred tax asset .............................................. 3,134 2,557
Prepaid expenses ..................................................... 14,377 11,764
Income tax receivable ................................................. — 285
Available-for-sale securities ............................................ 50,000 99,990
Total current assets ....................................................... 297,454 211,072
Leasehold improvements, property and equipment, net ........................... 636,411 585,899
Other assets ............................................................. 5,701 6,075
Goodwill ............................................................... 21,939 21,939
Total assets .............................................................. $961,505 $824,985
Liabilities and shareholders’ equity
Current liabilities:
Accounts payable ..................................................... $ 25,230 $ 23,890
Accrued payroll and benefits ............................................ 41,404 24,469
Accrued liabilities .................................................... 31,216 28,347
Current portion of deemed landlord financing .............................. 96 82
Income tax payable ................................................... 4,207 —
Total current liabilities ..................................................... 102,153 76,788
Deferred rent ............................................................ 106,395 87,009
Deemed landlord financing ................................................. 3,782 3,878
Deferred income tax liability ................................................ 38,863 29,863
Other liabilities .......................................................... 6,851 4,857
Total liabilities ........................................................... 258,044 202,395
Shareholders’ equity:
Preferred stock, $0.01 par value, 600,000 shares authorized, no shares outstanding
as of December 31, 2009 and 2008 ..................................... — —
Common stock, $0.01 par value, 230,000 shares authorized, 33,473 and 32,878
shares issued as of December 31, 2009 and 2008, respectively ............... 335 329
Additional paid-in capital .............................................. 539,880 501,993
Treasury stock, at cost, 1,990 and 692 shares at December 31, 2009 and 2008,
respectively ....................................................... (114,316) (30,227)
Accumulated other comprehensive income (loss) ............................ 29 (193)
Retained earnings ..................................................... 277,533 150,688
Total shareholders’ equity .................................................. 703,461 622,590
Total liabilities and shareholders’ equity ....................................... $961,505 $824,985
See accompanying notes to consolidated financial statements.
37
Annual Report