Balance Sheet: Assets
The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.
Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.
Chipotle Mexican Grill Inc., consolidated balance sheet: assets
US$ in thousands
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).
The financial data exhibits several notable trends over the five-year period. Total assets show a steady increase from approximately $5.98 billion at the end of 2020 to around $9.20 billion by the end of 2024, indicating overall growth in the company's asset base.
- Cash and Cash Equivalents
- Cash reserves increased significantly from roughly $608 million in 2020 to $815 million in 2021, followed by a sharp decrease to $384 million in 2022. Afterward, cash levels recovered to $561 million in 2023 and further rose to $749 million in 2024, indicating fluctuating liquidity management but ending with a strong position.
- Accounts Receivable, Net
- This category shows a moderate upward trend, growing from about $104.5 million in 2020 to approximately $144 million in 2024, reflecting a gradual increase in sales on credit or receivables outstanding.
- Inventory
- Inventory levels have consistently increased each year, from $26.4 million in 2020 to $48.9 million in 2024, suggesting incremental growth in stock to support operations or anticipated demand.
- Prepaid Expenses and Other Current Assets
- Prepaid expenses were not reported until 2022, rising from about $69 million to a peak of $97.7 million in 2023 before declining to nearly $80.3 million in 2024. Other current assets show variability with a considerable decline after 2021. Combined prepaid expenses and other current assets increased steadily from $54.9 million in 2020 to a peak of $117.5 million in 2023, then dropped to $97.5 million in 2024.
- Income Tax Receivable
- There is a marked downward trend in income tax receivable, decreasing from a high of $283 million in 2020 to $67 million in 2024, which may imply improved tax payments or adjustments.
- Investments
- Current investments decreased from $344 million in 2020 to $261 million in 2021, then surged to $515 million in 2022 and continued to increase to $735 million in 2023, before a slight decline to $674 million in 2024. Long-term investments show strong and continuous growth from $102 million in 2020 to $868 million in 2024, reflecting increased allocation to longer-term financial assets.
- Current Assets
- Generally, current assets fluctuate but trend upward overall, increasing from about $1.42 billion in 2020 to $1.78 billion by 2024, showing growth and reinforcement of short-term asset positions.
- Property and Equipment
- Net leasehold improvements, property, and equipment show consistent growth year-over-year, rising from $1.58 billion in 2020 to $2.39 billion in 2024, signaling ongoing capital investment and expansion in fixed assets.
- Lease Assets
- Operating lease assets display continuous growth, increasing from $2.77 billion in 2020 to $4.00 billion in 2024. This reflects either expansion of leased properties, changes in lease accounting, or both.
- Other Assets and Goodwill
- Other assets remain relatively stable with minor fluctuations but exhibit a notable increase in 2024. Goodwill remains unchanged at $21.9 million across all years, indicating no significant acquisitions impacting goodwill recorded during this period.
- Long-term Assets
- Long-term assets show a clear upward trajectory from $4.56 billion in 2020 to $7.42 billion in 2024, consistent with the investments in property, equipment, and long-term financial assets noted previously.
In summary, the company demonstrates continuous asset growth driven primarily by increases in long-term investments, property and equipment, and lease assets. Cash levels and current investments fluctuate but remain robust, while receivables and inventory show steady expansion aligned with operational scale. The reduction in income tax receivable and variability in prepaid expenses may reflect changes in tax strategy and payment timing. Overall, asset composition points to an expanding operational footprint supported by enhanced investment in fixed and financial assets over the period.