Chipotle mexican grill, inc. (CMG)
CashFlow / TTM
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11Dec'10Sep'10Jun'10Mar'10
Operating activities
Net income

338,414

350,158

309,761

249,383

205,239

176,553

188,327

169,733

189,579

176,253

148,435

136,624

95,490

22,938

74,837

211,921

326,529

475,602

528,962

514,880

484,946

445,374

403,762

356,340

333,923

327,438

309,169

298,090

291,920

278,000

274,120

262,253

231,227

214,945

203,917

191,712

187,516

178,981

0

0

0

Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization

217,371

212,778

210,846

211,294

208,845

201,979

190,204

179,096

170,984

163,348

159,978

155,866

150,859

146,368

142,436

138,147

134,513

130,368

125,978

120,794

115,363

110,474

105,627

102,284

98,872

96,054

93,292

90,036

86,982

84,130

81,187

78,566

76,528

74,938

73,555

72,133

70,681

68,921

0

0

0

Amortization of operating lease assets

168,808

163,952

117,622

77,438

38,105

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred income tax provision

55,533

29,962

-30,985

-12,712

6,674

10,585

19,721

4,861

-9,236

-18,026

-25,910

-23,935

-19,573

-14,207

24,588

28,487

19,476

11,666

-14,168

-27,579

-27,773

-20,671

-23,527

-11,322

5,577

2,103

-5,680

-9,097

-21,783

-18,057

-5,327

1,575

11,035

11,935

24,988

26,547

16,453

10,479

0

0

0

Impairment, closure costs, and asset disposals

-20,122

-15,402

-15,568

-16,750

-61,213

-61,987

-59,967

-60,260

-14,554

-13,345

-11,850

-21,740

-25,311

-23,877

-27,490

-13,009

-11,210

-13,194

-9,953

-9,403

-9,617

-6,976

-6,374

-7,173

-6,970

-6,751

-6,047

-5,041

-5,117

-5,027

-5,614

-5,493

-8,717

-5,806

-14,904

-12,115

-3,366

-6,296

0

0

0

Provision for credit losses

-263

33

94

104

331

125

149

139

34

214

-180

39

-42

-262

103

-116

-36

-23

-8

0

2

9

-15

-38

-10

19

164

900

1,043

1,046

1,116

421

248

239

106

-76

-12

-151

0

0

0

Stock-based compensation expense

89,637

91,396

86,602

85,840

76,221

69,164

58,878

52,054

60,896

65,255

70,373

70,974

70,117

64,166

46,575

49,220

51,430

57,911

74,009

73,768

86,067

96,440

95,191

90,725

75,629

63,657

62,646

60,932

59,423

64,276

61,013

57,081

52,699

41,382

36,156

31,670

25,617

21,381

0

0

0

Excess tax benefit on stock-based compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,469

18,366

64,295

74,442

83,557

70,209

23,539

21,667

33,656

43,644

45,465

38,379

16,328

3,809

6,687

73,210

74,879

82,765

98,478

38,786

47,122

40,859

20,925

14,526

0

0

0

Other

8,616

10,592

4,029

4,278

3,867

2,918

2,025

1,339

530

218

1,826

1,679

2,106

1,924

-631

-459

-875

-582

368

330

159

104

113

248

394

507

558

577

621

522

392

229

2,464

2,501

0

0

0

-

0

0

0

Changes in operating assets and liabilities:
Accounts receivable

-7,391

2,630

2,701

6,644

6,119

8,298

3,175

-1,109

5,066

140

1,530

1,752

-2,128

1,923

-1,943

-2,604

2,162

3,504

5,579

5,627

5,105

10,966

4,188

5,279

1,108

7,238

179

5,496

7,419

9,438

9,893

4,593

1,712

2,970

1,424

2,315

4,096

743

0

0

0

Inventory

4,577

4,530

5,596

294

1,392

1,722

-3,335

1,727

-938

5,250

3,672

2,700

1,995

91

968

454

834

-262

1,668

1,036

884

2,307

3,386

4,245

3,770

1,950

2,548

768

1,418

2,180

1,193

2,062

1,279

1,816

1,591

2,084

2,420

1,481

0

0

0

Prepaid expenses and other current assets

23,512

23,066

16,284

-2,062

2,730

3,811

6,861

20,057

8,575

6,710

3,787

-1,865

-1,150

4,259

7,593

12,611

11,080

5,259

4,233

2,829

-840

658

-1,045

1,954

6,444

6,806

10,015

6,657

5,592

5,954

1,973

-2,968

5,840

5,399

3,748

12,867

4,612

1,632

0

0

0

Other assets

2,557

-2,818

641

2,874

5,618

2,005

-933

-3,238

-2,780

1,476

1,355

1,707

806

-1,063

143

-696

326

5,619

-827

-162

389

-1,071

1,649

1,563

2,131

1,354

13,100

13,691

12,181

20,539

18,226

17,627

17,752

7,350

8,044

8,358

7,987

8,956

0

0

0

Accounts payable

23,528

-973

9,735

7,310

10,582

32,080

14,320

17,088

27,442

10,908

19,975

15,212

2,826

-6,734

486

-8,261

-4,158

19,525

-5,437

-1,417

8,993

2,168

13,369

13,670

9,285

2,052

2,870

9,028

5,713

7,849

11,062

7,962

9,840

9,432

8,844

8,032

7,790

6,989

0

0

0

Accrued payroll and benefits

11,745

11,759

14,893

-2,358

7,721

29,568

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accrued liabilities

31,927

36,543

26,920

15,390

3,651

14,831

6,128

57,135

38,279

28,179

12,961

-40,137

-398

13,692

36,239

19,450

24,324

-7,440

16,123

24,321

28,811

35,019

43,448

40,352

30,754

12,020

13,967

21,461

18,849

21,307

17,718

16,949

11,957

17,451

8,662

10,153

10,324

16,607

0

0

0

Unearned revenue

27,862

30,400

18,681

16,664

8,719

6,829

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Income tax payable/receivable

-77,316

-32,083

17,820

32,849

12,481

14,439

-8,729

-35,656

-15,912

-4,173

10,504

27,901

60,295

54,340

-9,076

981

-18,762

32,756

45,415

54,484

36,057

8,831

57,077

47,687

49,701

44,334

43,751

42,081

72,818

59,357

45,726

54,452

71,432

66,555

60,168

31,344

-7,988

-13,209

0

0

0

Deferred rent

-

-

-

-

-

21,297

24,682

25,988

26,534

29,996

32,121

35,549

37,343

37,030

38,698

36,343

34,700

32,911

67,937

53,121

40,569

27,025

-26,156

-26,505

-26,599

-25,715

-25,870

-24,113

-24,515

-23,765

-23,518

-38,989

-28,467

-19,624

-42,195

-17,066

-17,172

-17,261

0

0

0

Operating lease liabilities

155,983

151,557

112,478

74,346

36,492

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other long-term liabilities

1,608

1,862

4,069

5,229

3,576

869

528

805

3,222

6,316

3,771

3,482

2,645

1,287

1,594

800

1,458

4,826

4,712

5,368

4,802

4,845

4,080

4,519

4,532

3,857

4,257

4,100

3,916

4,062

4,189

3,202

3,362

2,609

2,394

3,322

2,976

2,974

0

0

0

Net cash provided by operating activities

721,122

721,632

664,098

626,649

603,017

621,552

581,406

520,006

518,742

468,216

453,395

419,123

444,071

355,160

375,825

461,851

502,276

683,316

720,874

722,766

745,008

682,067

689,821

621,458

583,308

528,780

514,741

516,841

515,837

419,963

414,164

407,255

372,167

411,096

383,864

334,951

297,629

289,191

0

0

0

Investing activities
Purchases of leasehold improvements, property and equipment

347,339

333,912

315,356

300,887

294,092

287,390

261,270

231,567

217,213

216,777

232,096

245,845

253,009

258,842

267,830

269,735

260,976

257,418

274,030

264,145

264,723

252,590

223,661

222,636

210,661

199,926

196,197

186,835

191,668

197,037

195,785

183,798

166,573

151,147

134,903

129,243

119,950

113,215

0

0

0

Purchases of investments

440,389

448,754

516,078

485,147

405,550

485,188

376,934

388,173

368,550

199,801

0

0

0

-

-

-

-

559,372

564,201

603,630

570,336

521,004

484,342

348,523

422,823

387,639

378,521

332,989

207,678

213,462

212,419

204,419

184,181

183,251

134,702

134,702

129,452

125,000

0

0

0

Maturities of investments

515,760

476,723

418,448

420,000

300,000

385,000

0

0

0

-

-

-

-

45,000

110,200

181,650

302,650

352,650

370,950

349,500

300,250

254,750

223,750

201,750

169,250

159,250

0

0

0

-

-

-

-

124,766

90,241

115,241

130,000

50,234

0

0

0

Proceeds from sale of investments

-

-

-

-

-

-

-

-

-

-

-

-

-

540,648

540,648

540,648

540,648

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by (used in) investing activities

-257,999

-291,974

-412,986

-366,034

-399,642

-387,578

-153,204

-184,740

-110,763

-86,578

-212,180

-185,767

-253,009

326,806

257,475

167,098

162,064

-464,140

-467,281

-518,275

-534,809

-518,844

-484,253

-369,409

-464,234

-428,315

-412,968

-386,074

-304,846

-355,499

-373,445

-353,458

-306,340

-210,218

-181,850

-151,190

-121,302

-189,881

0

0

0

Financing activities
Acquisition of treasury stock

192,132

190,617

196,157

174,951

145,185

160,937

192,660

278,919

294,719

285,218

274,365

240,551

312,095

836,760

1,084,907

1,044,389

1,021,228

460,675

172,055

154,368

98,851

88,338

104,653

108,130

100,674

138,903

232,186

258,560

241,046

217,092

104,259

80,621

76,996

63,508

56,932

90,503

122,327

126,602

0

0

0

Tax withholding on stock-based compensation awards

47,682

10,420

11,204

11,536

11,791

5,411

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from employee stock plan transactions

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

288

284

283

574

6,890

12,648

14,231

17,650

0

0

0

Excess tax benefit on stock-based compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,468

18,366

64,295

74,442

83,558

70,209

23,539

21,667

33,656

43,644

45,465

38,379

16,328

3,809

6,687

73,210

74,879

82,765

98,478

38,786

47,122

40,859

20,925

14,526

0

0

0

Stock plan transactions and other financing activities

-490

-698

-702

-642

-442

-187

-134

-38

-2

26

1,359

1,369

1,388

1,372

41

-20

-98

-207

-222

-186

-129

-66

-81

-73

-3

173

632

604

501

348

-130

-127

-124

-120

75

81

89

96

0

0

0

Net cash used in financing activities

-240,304

-201,735

-208,063

-187,129

-157,418

-166,535

-197,497

-283,932

-299,411

-285,894

-276,415

-242,059

-312,282

-836,283

-1,083,398

-1,026,043

-957,031

-386,440

-88,719

-84,345

-75,441

-66,737

-71,078

-64,559

-55,212

-100,351

-215,475

-254,314

-233,939

-143,534

-29,222

2,301

21,641

-24,268

-3,037

-37,107

-87,274

-94,522

0

0

0

Effect of exchange rate changes on cash, cash equivalents and restricted cash

-591

406

-395

-248

-1,255

-1,457

-540

211

1,859

2,056

943

-156

-1,243

110

64

-631

539

-4,196

-3,330

-2,511

-3,393

-224

52

928

800

536

629

382

-313

380

-223

-1,102

-216

-205

-98

1,105

884

484

0

0

0

Net change in cash, cash equivalents, and restricted cash

222,228

228,329

42,654

73,238

44,702

65,982

230,165

51,545

110,427

97,800

-34,257

-8,859

-122,463

-154,207

-450,034

-397,725

-292,152

-171,460

161,544

117,635

131,365

96,262

134,542

188,418

64,662

650

-113,073

-123,165

-23,261

-78,690

11,274

54,996

87,252

176,405

198,879

147,759

89,937

5,272

0

0

0

Supplemental disclosures of cash flow information
Income taxes paid (refunded)

102,224

109,571

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchases of leasehold improvements, property, and equipment accrued in accounts payable and accrued liabilities

48,257

36,886

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

9,424

3,887

613

-4,839

-1,736

2,305

-1,664

7,119

4,455

5,011

7,756

3,684

3,249

4,524

2,005

1,985

1,480

0

0

0