CHIPOTLE MEXICAN GRILL, INC. CMG Income Statement

Chipotle mexican grill, inc. (CMG)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10	Jun'10	Mar'10	Sep'09	Jun'09
Revenue
1,410,772	1,440,224	1,403,697	1,434,231	1,308,217	1,225,061	1,225,007	1,266,520	1,148,397	1,110,100	1,128,074	1,169,409	1,068,829	1,034,560	1,036,982	998,383	834,459	997,507	1,216,890	1,197,783	1,089,043	1,069,811	1,084,222	1,050,073	904,163	844,147	826,907	816,786	726,751	699,161	700,528	690,932	640,603	596,749	591,854	571,561	509,384	482,521	476,874	466,841	409,686	387,581	388,836
Restaurant operating costs (exclusive of depreciation and amortization shown separately below):
Food, beverage and packaging
462,299	476,769	466,496	483,284	421,367	406,536	409,213	413,096	371,915	379,914	394,567	399,152	361,795	365,612	363,900	341,902	294,166	337,065	401,051	396,693	369,026	373,991	372,063	363,148	311,792	285,912	277,503	270,510	239,589	234,330	228,566	221,517	206,590	191,898	195,793	188,121	162,908	149,589	145,688	141,922	123,908	119,473	120,207
Labor
393,565	381,520	373,645	368,053	348,842	332,509	332,865	341,842	318,863	305,428	306,862	305,851	287,851	284,250	286,144	276,926	257,681	260,585	270,076	270,914	244,151	237,310	230,360	228,529	208,208	193,818	188,709	185,804	171,469	167,301	162,655	159,895	151,985	142,080	138,046	137,705	125,288	119,532	115,234	114,790	104,017	96,419	95,389
Occupancy
95,279	92,970	91,409	89,923	88,770	88,404	86,691	86,772	85,256	84,650	83,199	80,321	78,962	76,489	74,201	72,354	70,592	68,143	66,391	64,693	63,185	60,930	58,838	56,254	54,846	52,795	50,128	48,564	47,620	45,391	43,777	41,758	40,509	38,647	37,117	36,195	35,315	33,977	32,096	31,772	31,088	28,677	28,167
Other operating costs
210,762	212,520	180,259	193,309	174,743	189,303	167,488	175,171	148,069	175,038	162,312	163,685	150,609	168,563	166,045	152,156	155,189	136,184	134,879	130,359	113,541	112,732	110,957	115,418	95,137	95,389	89,060	86,296	76,656	80,350	73,728	66,353	66,179	68,435	63,167	62,221	57,385	54,281	51,977	52,968	43,678	44,118	43,845
General and administrative expenses
106,470	112,416	115,070	121,395	102,671	103,720	109,524	85,153	77,063	57,690	99,182	70,075	69,441	65,069	78,405	70,756	62,010	46,875	70,066	70,212	63,061	60,929	71,172	74,879	66,917	55,844	52,726	50,952	44,211	43,174	48,606	42,295	49,334	37,988	37,254	41,968	32,216	28,733	33,522	30,141	26,194	24,555	25,797
Depreciation and amortization
58,374	55,149	52,206	51,642	53,781	53,217	52,654	49,193	46,915	41,442	41,546	41,081	39,279	38,072	37,434	36,074	34,788	34,140	33,145	32,440	30,643	29,750	27,961	27,009	25,754	24,903	24,618	23,597	22,936	22,141	21,362	20,543	20,084	19,198	18,741	18,505	18,494	17,815	17,319	17,053	16,734	15,451	15,197
Pre-opening costs
3,566	4,986	3,064	2,118	940	1,756	2,127	2,014	2,649	2,577	2,792	2,903	4,069	4,118	4,490	4,133	4,421	5,452	4,367	3,668	3,435	4,088	3,829	3,392	4,300	4,775	4,604	3,246	2,886	3,383	2,772	3,306	2,448	3,145	2,448	1,606	1,296	2,598	1,943	1,724	1,502	2,535	1,568
Impairment, closure costs, and asset disposals
-9,336	-5,738	-5,927	-4,487	-6,942	-10,004	-6,454	-45,322	-4,859	-3,332	-6,747	384	-3,650	-1,837	-16,637	-3,187	-2,216	-5,450	-2,156	-1,388	-4,200	-2,209	-1,606	-1,602	-1,559	-1,607	-2,405	-1,399	-1,340	-903	-1,399	-1,475	-1,250	-4,812	-1,278	-1,377	1,661	-8,050	1,511	1,512	-1,269	-1,544	-1,344
Total operating expenses
1,339,651	1,342,068	1,288,076	1,314,211	1,198,056	1,185,449	1,167,016	1,198,563	1,055,589	1,050,071	1,097,207	1,062,684	995,656	1,004,010	1,027,256	957,488	881,063	893,894	982,131	970,367	891,242	881,939	876,786	870,231	768,513	715,043	689,753	670,368	606,707	596,973	582,865	557,142	538,379	502,881	493,844	487,698	434,563	408,529	399,290	391,882	348,390	332,772	331,514
Income from operations
71,121	98,156	115,621	120,020	110,161	39,612	57,991	67,957	92,808	60,029	30,867	106,725	73,173	30,550	9,726	40,895	-46,604	103,613	234,759	227,416	197,801	187,872	207,436	179,842	135,650	129,104	137,154	146,418	120,044	102,188	117,663	133,790	102,224	93,868	98,010	83,863	74,821	73,992	77,584	74,959	61,296	54,809	57,322
Interest and other income, net
2,743	2,840	4,411	3,947	3,129	3,858	2,493	2,323	1,394	1,437	1,275	1,049	1,188	588	672	786	2,126	1,795	1,518	1,742	1,223	885	785	1,144	689	390	765	330	266	462	547	377	434	414	448	-2,006	287	133	395	427	275	132	293
Interest and other expense
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	14	85	79	74	186
Income before income taxes
73,864	100,996	120,032	123,967	113,290	43,470	60,484	70,280	94,202	61,466	32,142	107,774	74,361	31,138	10,398	41,681	-44,478	105,408	236,277	229,158	199,024	188,757	208,221	180,986	136,339	129,494	137,919	146,748	120,310	102,650	118,210	134,167	102,658	94,282	98,458	81,857	75,108	74,303	77,965	75,301	61,492	54,867	57,429
Benefit (provision) for income taxes
-2,524	28,580	21,450	32,939	25,158	11,451	22,280	23,396	34,756	17,673	12,532	41,044	28,241	15,163	2,599	16,085	-18,046	37,534	91,394	88,954	76,383	67,523	77,420	70,716	53,270	49,872	54,540	58,895	43,726	41,297	45,910	52,484	39,994	36,809	38,025	31,200	28,726	27,858	29,737	28,840	23,645	20,403	22,036
Net income
76,388	72,416	98,582	91,028	88,132	32,019	38,204	46,884	59,446	43,793	19,610	66,730	46,120	15,975	7,799	25,596	-26,432	67,874	144,883	140,204	122,641	121,234	130,801	110,270	83,069	79,622	83,379	87,853	76,584	61,353	72,300	81,683	62,664	57,473	60,433	50,657	46,382	46,445	48,228	46,461	37,847	34,464	35,393
Foreign currency translation adjustments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-765	1,929	-	-1,718	1,731	-4,712	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Unrealized gain (loss) on investments, net of tax benefit (expense) of $37, ($348), 131, and ($1,531)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	509	1,893	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other comprehensive income (loss), net of income taxes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-256	3,822	-	-1,718	1,731	-4,712	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Comprehensive income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	25,340	-22,610	-	143,165	141,935	117,929	120,836	129,412	110,139	82,938	79,844	84,890	87,820	75,480	61,595	73,260	80,625	63,347	56,980	59,792	50,764	47,000	-	-	-	-	-	-
Earnings per share:
Basic
2.75	2.61	3.55	3.28	3.18	1.16	1.37	1.69	2.13	1.57	0.69	2.33	1.60	0.51	0.27	0.88	-0.88	2.19	4.65	4.51	3.95	3.91	4.22	3.55	2.67	2.57	2.70	2.84	2.47	1.96	2.28	2.58	2.00	1.84	1.93	1.63	1.49	1.50	1.55	1.48	1.20	1.09	1.11
Diluted
2.70	2.56	3.47	3.22	3.13	1.14	1.36	1.68	2.13	1.56	0.69	2.32	1.60	0.51	0.27	0.87	-0.88	2.18	4.59	4.45	3.88	3.84	4.15	3.50	2.64	2.54	2.66	2.82	2.45	1.95	2.27	2.56	1.97	1.81	1.90	1.59	1.46	1.47	1.52	1.46	1.19	1.08	1.10
Weighted-average common shares outstanding:
Basic
27,792	27,769	27,775	27,720	27,696	27,760	27,802	27,819	27,911	28,150	28,415	28,649	28,750	28,897	29,063	29,207	29,893	31,025	31,187	31,120	31,036	31,022	31,020	31,049	31,061	31,018	30,897	30,901	31,012	31,303	31,643	31,696	31,410	31,288	31,331	31,167	31,082	31,049	31,031	31,373	31,483	31,625	31,856
Diluted
28,323	28,374	28,388	28,300	28,118	27,946	28,017	27,935	27,950	28,155	28,439	28,800	28,850	30,676	29,171	29,340	29,893	31,310	31,548	31,526	31,592	31,541	31,547	31,474	31,486	31,423	31,296	31,176	31,229	31,489	31,846	31,951	31,846	31,790	31,832	31,761	31,717	31,695	31,629	31,802	31,814	31,949	32,195