Stock Analysis on Net
Stock Analysis on Net

Chipotle Mexican Grill Inc. (NYSE:CMG)

Analysis of Property, Plant and Equipment

Microsoft Excel

Property, Plant and Equipment Disclosure

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

US$ in thousands

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Land 12,943 12,943 12,943 12,943 12,943
Leasehold improvements and buildings 2,595,866 2,317,277 2,094,227 1,921,371 1,765,464
Furniture and fixtures 267,294 242,166 222,774 198,387 182,391
Equipment 1,114,236 989,895 868,435 755,003 653,909
Construction in Progress 161,721 123,453 107,222 76,317 45,422
Leasehold improvements, property and equipment, gross 4,152,060 3,685,734 3,305,601 2,964,021 2,660,129
Accumulated depreciation (1,982,022) (1,734,587) (1,536,323) (1,379,710) (1,201,439)
Leasehold improvements, property and equipment, net 2,170,038 1,951,147 1,769,278 1,584,311 1,458,690

Based on: 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), 10-K (reporting date: 2019-12-31).

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 2021 to 2022 and from 2022 to 2023.
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 2021 to 2022 and from 2022 to 2023.

Asset Age Ratios (Summary)

Chipotle Mexican Grill Inc., asset age ratios

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Average age ratio 47.89% 47.23% 46.66% 46.75% 45.39%

Based on: 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), 10-K (reporting date: 2019-12-31).

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 2021 to 2022 and from 2022 to 2023.

Average Age

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in thousands)
Accumulated depreciation 1,982,022 1,734,587 1,536,323 1,379,710 1,201,439
Leasehold improvements, property and equipment, gross 4,152,060 3,685,734 3,305,601 2,964,021 2,660,129
Land 12,943 12,943 12,943 12,943 12,943
Asset Age Ratio
Average age1 47.89% 47.23% 46.66% 46.75% 45.39%

Based on: 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), 10-K (reporting date: 2019-12-31).

2023 Calculations

1 Average age = 100 × Accumulated depreciation ÷ (Leasehold improvements, property and equipment, gross – Land)
= 100 × 1,982,022 ÷ (4,152,060 – 12,943) = 47.89%

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 2021 to 2022 and from 2022 to 2023.