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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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  At December 31,
   
 
  At September 30,
2005

 
  2000
  2001
  2002
  2003
  2004
Balance Sheet Data:                                    
Total current assets   $ 25,546   $ 10,819   $ 20,221   $ 7,833   $ 10,332   $ 14,368
Total assets   $ 107,117   $ 146,403   $ 194,172   $ 249,014   $ 329,653   $ 371,777
Total current liabilities   $ 10,306   $ 14,913   $ 20,806   $ 38,266   $ 38,663   $ 37,473
Total liabilities   $ 13,863   $ 22,706   $ 32,918   $ 57,506   $ 67,087   $ 74,004
Total shareholders' equity   $ 93,254   $ 123,697   $ 161,254   $ 191,508   $ 262,566   $ 297,733

(1)
We are not a separate taxable entity for federal and most state income tax purposes and our results of operations are included in McDonald's consolidated federal and state income tax returns; however, the provision for income taxes is calculated on a separate return basis. At December 31, 2004, we had incurred total NOLs of $139.4 million since our inception as a "C" corporation on January 1, 1996. We incurred $118.0 million of these NOLs after McDonald's acquisition of over 80% of our equity. The remaining $21.4 million of these NOLs relates to SRLY losses before McDonald's acquired over 80% of our equity and will begin to expire in 2012. Through December 31, 2004, we recorded a valuation allowance to offset our deferred tax assets, including those related to the NOLs, net of deferred tax liabilities. During the nine months ended September 30, 2005, we determined that it was more likely than not that we would realize our deferred tax assets and we reversed our valuation allowance, resulting in a net tax benefit of $10.8 million in our results of operations. During the nine months ended September 30, 2005, we also realized $8.5 million of SRLY losses, which reduced goodwill but did not impact our results of operations.

(2)
Historical earnings (loss) per common share and shares used in computing historical earnings (loss) per common share do not reflect the effect of the Reclassification nor the conversion of stock appreciation rights into stock options.

(3)
The adjusted earnings (loss) per common share and shares used in computing adjusted earnings (loss) per common share presented give retroactive effect to the one for three reverse common stock split to be executed as part of the Reclassification and to the conversion of stock appreciation rights into stock options.

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