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SEC Filings

S-1/A
CHIPOTLE MEXICAN GRILL INC filed this Form S-1/A on 12/23/2005
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Chipotle Mexican Grill, Inc.

Consolidated Balance Sheet

(in thousands, except share and per share data)

 
  December 31
   
   
 
 
  September 30
2005

  Pro Forma
September 30
2005

 
 
  2003
  2004
 
 
   
   
  (unaudited)

  (unaudited)

 
Assets                          
Current assets:                          
  Cash   $   $   $ 1,958        
  Accounts receivable, net of allowance for doubtful accounts of $0, $804 and $525 at December 31, 2003 and 2004 and September 30, 2005 (unaudited), respectively     2,605     2,490     1,927        
  Notes receivable—McDonald's Corp.         732            
  Inventory     1,466     2,256     2,684        
  Current deferred tax assets             2,591        
  Prepaid expenses     3,762     4,854     5,208        
   
 
 
       
Total current assets     7,833     10,332     14,368        

Leasehold improvements, property and equipment, net

 

 

211,877

 

 

289,873

 

 

319,529

 

 

 

 
Other assets     2,564     2,825     2,812        
Restricted cash and cash equivalents     497     380            
Long-term deferred tax assets             17,330        
Goodwill     26,243     26,243     17,738        
   
 
 
       
Total assets   $ 249,014   $ 329,653   $ 371,777        
   
 
 
       

Liabilities and shareholders' equity

 

 

 

 

 

 

 

 

 

 

 

 

 
Current liabilities:                          
  Cash overdraft   $ 2,550   $ 4,431   $        
  Accounts payable     10,021     11,803     10,912        
  Accrued payroll and benefits     8,053     7,308     10,890        
  Accrued liabilities     5,968     9,430     7,580        
  Accrued loss contingency         4,000     1,991        
  Note payable—McDonald's Corp.     10,138         4,638        
  Current portion of deemed landlord financing             50        
  Due to McDonald's Corp.     1,536     1,691     1,412        
   
 
 
       
Total current liabilities     38,266     38,663     37,473        

Deferred rent

 

 

19,240

 

 

28,231

 

 

33,671

 

 

 

 
Deemed landlord financing             2,346        
Other liabilities         193     514      
   
 
 
 
 
Total liabilities     57,506     67,087     74,004     73,490  
   
 
 
 
 

Shareholders' equity:

 

 

 

 

 

 

 

 

 

 

 

 

 
  Preferred stock, 40,000,000 authorized shares, $0.01 par value:                          
    Series B convertible preferred stock, issued and outstanding shares—8,034,009 (liquidation preference of $25,309, $27,334 and $28,974 at December 31, 2003 and 2004 and September 30, 2005 (unaudited), respectively)     80     80     80      
    Series C junior convertible preferred stock, issued and outstanding shares—3,925,125 (liquidation preference of $7,890)     39     39     39      
    Series D junior convertible preferred stock, issued and outstanding shares—8,510,639 (liquidation preference of $20,000)     85     85     85      
  Common stock, 95,000,000 authorized shares, $0.01 par value:                          
    Issued and outstanding shares—49,647,433, 58,372,266 and 58,372,266 at December 31, 2003 and 2004 and September 30, 2005 (unaudited), respectively     496     584     584      
  Common stock, class B, 30,000,000 authorized shares, $0.01 par value:
Issued and outstanding shares—26,280,680 at September 30, 2005
                263  
  Additional paid-in capital     310,193     383,901     378,285     379,324  
  Tax receivable—McDonald's Corp.     (37,112 )   (45,985 )   (38,596 )   (38,596 )
  Accumulated other comprehensive income         9     9     9  
  Accumulated deficit     (82,273 )   (76,147 )   (42,713 )   (42,713 )
   
 
 
 
 
Total shareholders' equity     191,508     262,566     297,773     298,287  
   
 
 
 
 
Total liabilities and shareholders' equity   $ 249,014   $ 329,653   $ 371,777   $ 371,777  
   
 
 
 
 

See accompanying notes to consolidated financial statements.

F-3


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