Chipotle 2012 Annual Report Download - page 42

CHIPOTLE MEXICAN GRILL, INC.
CONSOLIDATED BALANCE SHEET
(in thousands, except per share data)
December 31
2012 2011
Assets
Current assets:
Cash and cash equivalents ...................................... $ 322,553 $ 401,243
Accounts receivable, net of allowance for doubtful accounts of $1,187
and $208 as of December 31, 2012 and 2011, respectively ........... 16,800 8,389
Inventory ................................................... 11,096 8,913
Current deferred tax asset ...................................... 8,862 6,238
Prepaid expenses and other current assets .......................... 27,378 21,404
Income tax receivable ......................................... 9,612 —
Investments ................................................. 150,306 55,005
Total current assets ................................................ 546,607 501,192
Leasehold improvements, property and equipment, net ................... 866,703 751,951
Long term investments ............................................. 190,868 128,241
Other assets ..................................................... 42,550 21,985
Goodwill ........................................................ 21,939 21,939
Total assets ...................................................... $ 1,668,667 $ 1,425,308
Liabilities and shareholders’ equity
Current liabilities:
Accounts payable ............................................. $ 58,700 $ 46,382
Accrued payroll and benefits .................................... 71,731 60,241
Accrued liabilities ............................................ 56,278 46,456
Current portion of deemed landlord financing ....................... 143 133
Income tax payable ........................................... — 4,241
Total current liabilities ............................................. 186,852 157,453
Deferred rent .................................................... 167,057 143,284
Deemed landlord financing ......................................... 3,386 3,529
Deferred income tax liability ........................................ 48,947 64,381
Other liabilities ................................................... 16,499 12,435
Total liabilities ................................................... 422,741 381,082
Shareholders’ equity:
Preferred stock, $0.01 par value, 600,000 shares authorized, no shares
issued as of December 31, 2012 and 2011 ........................ — —
Common stock $0.01 par value, 230,000 shares authorized, and 34,912
and 34,357 shares issued as of December 31, 2012 and 2011,
respectively ............................................... 349 344
Additional paid-in capital ....................................... 816,612 676,652
Treasury stock, at cost, 3,819 and 3,105 common shares at December 31,
2012 and 2011, respectively ................................... (521,518) (304,426)
Accumulated other comprehensive income ......................... 1,024 197
Retained earnings ............................................. 949,459 671,459
Total shareholders’ equity .......................................... 1,245,926 1,044,226
Total liabilities and shareholders’ equity ............................... $ 1,668,667 $ 1,425,308
See accompanying notes to consolidated financial statements.
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Annual Report