Chipotle 2012 Annual Report Download - page 11

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Available Information
We maintain a website at www.chipotle.com, including an investor relations section at ir.chipotle.com in
which we routinely post important information, such as webcasts of quarterly earnings calls and other investor
events in which we participate or host, and any related materials. Our Code of Conduct is also available in this
section of our website. You may access our annual reports on Form 10-K, quarterly reports on Form 10-Q,
current reports on Form 8-K and amendments to those reports, as well as other reports relating to us that are filed
with or furnished to the SEC, free of charge in the investor relations section of our website as soon as reasonably
practicable after such material is electronically filed with or furnished to the SEC. The public may also read and
copy materials we file with the SEC at the SEC’s Public Reference Room, which is located at 100 F Street, NE,
Room 1580, Washington, DC 20549. You can obtain information on the operation of the Public Reference Room
by calling the SEC at 1-800-SEC-0330. The SEC also maintains a website that contains reports, proxy and
information statements and other information regarding issuers that file electronically with the SEC at
www.sec.gov.
The contents of the websites mentioned above are not incorporated into and should not be considered a part
of this report. The references to the URLs for these websites are intended to be inactive textual references only.
ITEM 1A. RISK FACTORS
Cautionary Note Regarding Forward-Looking Statements
This report includes statements of our expectations, intentions, plans and beliefs that constitute “forward-
looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934 and are intended to come within the safe harbor protection provided by those
sections. These statements, which involve risks and uncertainties, relate to the discussion of our business
strategies and our expectations concerning future operations, margins, profitability, liquidity and capital
resources and to analyses and other information that are based on forecasts of future results and estimates of
amounts not yet determinable. Forward-looking statements include our projections of the number of restaurants
we expect to open in 2013, our expected comparable restaurant sales results during 2013, our expectations for
food cost inflation and food costs as a percentage of revenue in 2013, statements about potential menu price
increases in 2013, projections of restaurant development costs and other expenses, statements of our intention to
open restaurants in one or more specified locations, statements regarding the potential impact of ongoing
economic uncertainty on our business, statements about possible repurchases of our common stock, forecasts of
marketing and promotional spending as a percentage of revenue in 2013, and our projections of our effective tax
rate for 2013. We have used words such as “may,” “will,” “should,” “expect,” “intend,” “plan,” “anticipate,”
“believe,” “think,” “estimate,” “seek,” “expect,” “predict,” “could,” “project,” “potential” and other similar terms
and phrases, including references to assumptions, in this report to identify forward-looking statements. These
forward-looking statements are made based on expectations and beliefs concerning future events affecting us and
are subject to uncertainties, risks and factors relating to our operations and business environments, all of which
are difficult to predict and many of which are beyond our control, that could cause our actual results to differ
materially from those matters expressed or implied by these forward-looking statements. Such risks and other
factors include those listed in this Item 1A. “Risk Factors,” and elsewhere in this report.
When considering forward-looking statements in this report or that we make in other reports or statements,
you should keep in mind the cautionary statements in this report and future reports we file with the SEC. New
risks and uncertainties arise from time to time, and we cannot predict when they may arise or how they may
affect us. We assume no obligation to update any forward-looking statements after the date of this report as a
result of new information, future events or other developments, except as required by applicable laws and
regulations.
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Annual Report