Property, Plant and Equipment Disclosure
Asset Age Ratios (Summary)
Average Age

Chipotle Mexican Grill Inc., balance sheet: property, plant and equipment

US$ in thousands

	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Land	12,943)	12,943)	12,943)	12,943)	12,943)
Leasehold improvements and buildings	2,918,408)	2,595,866)	2,317,277)	2,094,227)	1,921,371)
Furniture and fixtures	293,841)	267,294)	242,166)	222,774)	198,387)
Equipment	1,221,290)	1,114,236)	989,895)	868,435)	755,003)
Construction in Progress	192,945)	161,721)	123,453)	107,222)	76,317)
Leasehold improvements, property and equipment, gross	4,639,427)	4,152,060)	3,685,734)	3,305,601)	2,964,021)
Accumulated depreciation	(2,249,301)	(1,982,022)	(1,734,587)	(1,536,323)	(1,379,710)
Leasehold improvements, property and equipment, net	2,390,126)	2,170,038)	1,951,147)	1,769,278)	1,584,311)

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

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Item	Description	The company
Leasehold improvements, property and equipment, gross	Amount before accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.	Chipotle Mexican Grill Inc. leasehold improvements, property and equipment, gross increased from 2022 to 2023 and from 2023 to 2024.
Leasehold improvements, property and equipment, net	Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.	Chipotle Mexican Grill Inc. leasehold improvements, property and equipment, net increased from 2022 to 2023 and from 2023 to 2024.

Chipotle Mexican Grill Inc., asset age ratios

		Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
	Average age ratio	48.62%	47.89%	47.23%	46.66%	46.75%

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

Asset age ratio	Description	The company
Average age ratio	As long as straight-line depreciation is used, this is an accurate estimate of asset age as a percentage of depreciable life. The relative age is a useful measure of whether the company fixed asset base is old or new. Newer assets are likely to be more efficient.	Chipotle Mexican Grill Inc. average age ratio of depreciable property, plant and equipment deteriorated from 2022 to 2023 and from 2023 to 2024.

	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Selected Financial Data (US$ in thousands)
Accumulated depreciation	2,249,301)	1,982,022)	1,734,587)	1,536,323)	1,379,710)
Leasehold improvements, property and equipment, gross	4,639,427)	4,152,060)	3,685,734)	3,305,601)	2,964,021)
Land	12,943)	12,943)	12,943)	12,943)	12,943)
Asset Age Ratio
Average age¹	48.62%	47.89%	47.23%	46.66%	46.75%

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

2024 Calculations

¹ Average age = 100 × Accumulated depreciation ÷ (Leasehold improvements, property and equipment, gross – Land)
= 100 × 2,249,301 ÷ (4,639,427 – 12,943) = 48.62%

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Asset age ratio	Description	The company
Average age	As long as straight-line depreciation is used, this is an accurate estimate of asset age as a percentage of depreciable life. The relative age is a useful measure of whether the company fixed asset base is old or new. Newer assets are likely to be more efficient.	Chipotle Mexican Grill Inc. average age ratio of depreciable property, plant and equipment deteriorated from 2022 to 2023 and from 2023 to 2024.

Chipotle Mexican Grill Inc. (NYSE:CMG)

Analysis of Property, Plant and Equipment

Property, Plant and Equipment Disclosure

Asset Age Ratios (Summary)

Average Age