CHIPOTLE MEXICAN GRILL INC
For the period ended Dec 31, 2024. Filed Feb 5, 2025.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Feb 5, 2025
CMG$35.92+0.5%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
| Year ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Operating activities | |||
| Net income | $1,534,110 | $1,228,737 | $899,101 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and amortization | 335,030 | 319,394 | 286,826 |
| Deferred income tax provision | (42,937) | (9,505) | (43,195) |
| Impairment, closure costs, and asset disposals | 24,582 | 37,025 | 20,738 |
| Provision for credit losses | 215 | 1,570 | (760) |
| Stock-based compensation expense | 131,730 | 124,016 | 98,030 |
| Other | (3,472) | (13,080) | (16,202) |
| Changes in operating assets and liabilities: | |||
| Accounts receivable | (29,274) | (11,216) | (14,026) |
| Inventory | (9,797) | (3,649) | (3,011) |
| Prepaid expenses and other current assets | 9,244 | (39,211) | (14,660) |
| Operating lease assets | 285,587 | 254,241 | 234,273 |
| Other assets | (17,690) | 4,204 | (346) |
| Accounts payable | 8,467 | 5,313 | 18,208 |
| Accrued payroll and benefits | 34,857 | 57,048 | 9,864 |
| Accrued liabilities | 27,284 | 3,188 | (27,964) |
| Unearned revenue | 46,139 | 35,685 | 33,374 |
| Income tax payable/receivable | (14,363) | (5,237) | 46,262 |
| Operating lease liabilities | (217,894) | (214,477) | (207,186) |
| Other long-term liabilities | 3,258 | 9,431 | 3,853 |
| Net cash provided by operating activities | 2,105,076 | 1,783,477 | 1,323,179 |
| Investing activities | |||
| Purchases of leasehold improvements, property and equipment | (593,603) | (560,731) | (479,164) |
| Purchases of investments | (986,673) | (1,115,131) | (614,416) |
| Maturities of investments | 722,637 | 729,853 | 263,548 |
| Proceeds from sale of equipment | 20,113 | - | - |
| Net cash used in investing activities | (837,526) | (946,009) | (830,032) |
| Financing activities | |||
| Repurchase of common stock | (1,001,559) | (592,349) | (830,140) |
| Tax withholding on stock-based compensation awards | (74,229) | (69,146) | (98,970) |
| Other financing activities | 2,089 | 843 | (294) |
| Net cash used in financing activities | (1,073,699) | (660,652) | (929,404) |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | (1,635) | 381 | (1,007) |
| Net change in cash, cash equivalents, and restricted cash | 192,216 | 177,197 | (437,264) |
| Cash, cash equivalents, and restricted cash at beginning of year | 586,163 | 408,966 | 846,230 |
| Cash, cash equivalents, and restricted cash at end of year | $778,379 | $586,163 | $408,966 |
| Supplemental disclosures of cash flow information | |||
| Income taxes paid | $532,862 | $400,229 | $275,796 |
| Purchases of leasehold improvements, property and equipment accrued in accounts payable and accrued liabilities | $82,636 | $76,415 | $72,021 |
| Repurchase of common stock accrued in accounts payable and accrued liabilities | $7,279 | $5,643 | $4,497 |
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