Stock Analysis on Net

Chipotle Mexican Grill Inc. (NYSE:CMG)

Cash Flow Statement 
Quarterly Data

The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.

The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.

Chipotle Mexican Grill Inc., consolidated cash flow statement (quarterly data)

US$ in thousands

Microsoft Excel
3 months ended: Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Net income 387,388 455,671 359,287 282,086 313,217 341,790 291,644 223,727 257,138 259,942 158,294 133,475 204,434 187,974 127,101 190,959 80,244 8,175 76,388 72,416 98,582 91,028 88,132
Depreciation and amortization 84,349 83,562 83,243 85,492 78,546 78,771 76,585 74,012 71,416 69,733 71,665 66,262 63,191 62,082 63,122 59,956 60,180 60,024 58,374 55,149 52,206 51,642 53,781
Deferred income tax provision (benefit) (3,773) (936) (4,890) (21,970) 4,638 8,313 (486) (34,628) 6,970 (1,513) (14,024) (11,333) 14,860 (2,402) (13,482) 54,493 (1,265) 27,779 27,343 45,108 (8,797) (8,121) 1,772
Impairment, closure costs, and asset disposals 14,222 5,708 4,209 6,489 6,363 16,021 8,152 5,611 6,276 4,586 4,265 4,603 4,248 3,298 4,937 7,676 7,451 4,942 8,805 5,186 5,272 859 4,085
Provision for credit losses (134) 257 (412) 1,005 253 (188) 500 209 (93) 42 (918) (240) 953 55 (275) 307 (225) 172 (90) (52) (121) 206
Stock-based compensation expense 4,660 45,240 36,003 37,459 35,801 30,672 20,084 20,659 25,150 28,631 23,590 37,651 36,061 47,290 55,390 22,047 19,817 23,367 17,395 25,739 25,336 21,167 19,154
Other (2,052) 3,676 835 4,192 (8,035) (6,427) (2,810) (3,157) (1,136) (10,911) (998) (7,133) 67 287 2,180 1,193 780 963 707 (7,548) (456) (1,319) (1,269)
Accounts receivable 3,738 (7,815) 26,146 (44,882) (10,361) 4,368 39,659 (36,917) 10,538 1,959 10,394 (23,569) (15,404) 5,111 32,175 (26,223) 6,635 (3,369) 25,967 (21,669) 764 2,329 15,946
Inventory (14,303) 2,432 1,331 859 (4,195) (1,399) 1,086 (1,955) (4,376) 350 2,970 (4,396) (3,305) (839) 2,148 (1,008) (1,415) (705) 2,734 (2,218) (2,733) (2,360) 2,781
Prepaid expenses and other current assets 1,596 4,057 16,291 (15,717) (2,129) (6,796) (14,569) (11,491) (4,117) (4,972) 5,920 (7,483) (1,157) (9,430) (8,756) (5,427) 235 (2,092) (4,158) (5,552) (3,897) (9,905) (3,712)
Operating lease assets 75,291 71,084 64,797 69,185 63,693 62,228 59,135 62,809 58,959 57,380 55,125 72,209 46,143 56,216 49,269 48,486 47,913 45,178 42,961 46,330 40,184 39,333 38,105
Other assets (19,759) 208 1,561 11,143 (10,394) 178 3,277 1,191 1,477 (1,882) (1,132) 2,092 1,784 303 (186) (4,823) (13,180) (3,441) (5,133) (46) (43) 2,665 242
Accounts payable 14,488 (4,786) 12,588 427 15,669 (8,051) (2,732) 7,434 13,746 (18,674) 15,702 (7,272) 16,187 (6,921) 19,446 (9,635) (34,754) 20,285 20,245 3,189 6,157 (6,063) (4,256)
Accrued payroll and benefits (38,336) 80,851 (85,289) 71,950 (22,499) 61,025 (53,428) 42,725 (32,278) (11,021) 10,438 (31,362) (34,261) 2,880 18,188 8,169 65,250 (2,575) 5,839 (18,712) 46,997 (22,379) 5,853
Accrued liabilities 6,432 (8,266) 25,322 1,306 1,948 (17,075) 17,009 (11,402) 5,731 8,858 (31,151) 18,404 12,695 (2,233) (17,869) 3,631 10,085 1,269 (9,389) 10,991 17,893 12,432 (4,773)
Unearned revenue (485) (2,902) (19,358) 56,875 (1,296) 2,759 (22,653) 51,515 1,921 1,542 (21,604) 37,365 8,509 4,119 (15,606) 37,551 3,434 11,897 (15,924) 39,065 16 4,705 (13,386)
Income tax payable/receivable (10,535) (116,525) 97,960 (225,664) 74,250 60,777 85,400 64,332 (14,238) (47,199) 43,367 229,229 (33,999) (40,491) 38,640 (222,574) 37,442 (40,940) (29,179) (23,098) (4,392) (20,647) 16,054
Operating lease liabilities (54,422) (49,811) (51,537) (58,297) (55,386) (49,210) (51,584) (53,986) (53,176) (50,428) (49,596) (65,624) (39,722) (50,916) (50,902) (50,085) (45,601) (28,550) (40,918) (39,079) (38,132) (37,854) (36,492)
Other long-term liabilities (1,871) 873 1,147 3,521 389 4,754 767 885 2,010 363 595 (4,458) (481) 502 453 431 764 483 104 1,390 (429) 543 358
Changes in operating assets and liabilities (38,166) (30,600) 90,959 (129,294) 49,689 113,558 61,367 115,140 (13,803) (63,724) 41,028 215,135 (43,011) (41,699) 67,000 (221,507) 76,808 (2,560) (6,851) (9,409) 62,385 (37,201) 16,720
Adjustments to reconcile net income to net cash provided by operating activities 59,106 106,907 209,947 (16,627) 167,255 240,720 163,392 177,846 94,780 26,844 124,608 304,945 76,369 68,911 178,872 (75,835) 163,546 114,687 105,683 114,173 135,946 26,906 94,449
Net cash provided by operating activities 446,494 562,578 569,234 265,459 480,472 582,510 455,036 401,573 351,918 286,786 282,902 438,420 280,803 256,885 305,973 115,124 243,790 122,862 182,071 186,589 234,528 117,934 182,581
Purchases of leasehold improvements, property and equipment (147,525) (140,490) (132,703) (171,930) (131,200) (137,232) (120,369) (143,646) (139,023) (100,333) (96,162) (121,906) (108,446) (125,504) (86,619) (126,594) (81,303) (87,802) (77,653) (95,947) (95,963) (77,776) (64,226)
Purchases of investments (90,412) (371,636) (366,798) (269,150) (255,325) (375,837) (214,819) (100,603) (318,571) (76,415) (118,827) (140,451) (97,979) (100,443) (90,477) (143,349) (223,965) (20,358) (80,746) (120,647) (119,854) (119,142) (89,111)
Maturities of investments 173,697 175,911 198,462 289,065 220,223 120,926 99,639 60,551 60,457 60,617 81,923 102,307 81,396 101,452 60,593 100,573 119,927 99,541 99,037 148,275 108,448 160,000 60,000
Proceeds from sale of equipment 1,150 2,885 13,969
Acquisitions of equity method investments (2,500) (7,525)
Net cash used in investing activities (64,240) (336,215) (301,039) (152,015) (166,302) (392,143) (235,549) (183,698) (397,137) (116,131) (133,066) (158,900) (125,029) (121,610) (116,503) (169,370) (187,841) (16,144) (59,362) (54,350) (107,369) (36,918) (93,337)
Repurchase of common stock (490,237) (145,363) (27,005) (155,044) (215,551) (95,045) (126,709) (200,365) (107,865) (258,602) (263,308) (165,729) (97,582) (145,922) (57,229) (54,401) (38,996) (40,079) (58,656) (52,886)
Tax withholding on stock-based compensation awards (338) (357) (72,654) (533) (1,139) (289) (67,185) (6,596) (469) (6,094) (85,811) (16,378) (4,632) (14,050) (44,810) (579) (29) (317) (47,630) (22) (30) (10,368)
Other financing activities 1,019 386 (415) 297 431 104 11 292 2 (229) (359) 68 (134) (1,987) (221) (30) (10) (1,786) (69) (33) (155) (233) (277)
Net cash used in financing activities (489,556) (145,334) (100,074) (155,280) (216,259) (95,230) (193,883) (206,669) (108,332) (264,925) (349,478) (182,039) (102,348) (161,959) (102,260) (609) (39) (2,103) (102,100) (39,029) (40,256) (58,919) (63,531)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (374) (369) (752) 377 (261) (25) 290 163 (680) (637) 147 (251) (572) 191 (407) 699 481 715 (819) 9 (97) 316 178
Net change in cash, cash equivalents, and restricted cash (107,676) 80,660 167,369 (41,459) 97,650 95,112 25,894 11,369 (154,231) (94,907) (199,495) 97,230 52,854 (26,493) 86,803 (54,156) 56,391 105,330 19,790 93,219 86,806 22,413 25,891

Based on: 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

Cash flow statement item Description The company
Net cash provided by operating activities Amount of cash inflow (outflow) from operating activities, excluding discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. Chipotle Mexican Grill Inc. net cash provided by operating activities decreased from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024.
Net cash used in investing activities Amount of cash inflow (outflow) of investing activities, excluding discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets. Chipotle Mexican Grill Inc. net cash used in investing activities decreased from Q1 2024 to Q2 2024 but then increased from Q2 2024 to Q3 2024 exceeding Q1 2024 level.
Net cash used in financing activities Amount of cash inflow (outflow) of financing activities, excluding discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit. Chipotle Mexican Grill Inc. net cash used in financing activities decreased from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024.