Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data
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.
Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.
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Chipotle Mexican Grill Inc., consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)
US$ in thousands
Based on: 10-Q (reporting date: 2026-06-30), 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 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).
Total liabilities and shareholders' equity exhibit a long-term upward trajectory, growing from 6.15 billion US dollars in March 2021 to 8.86 billion US dollars by June 2026. This growth is primarily driven by a steady increase in total liabilities, which rose from approximately 4.05 billion US dollars to 6.66 billion US dollars over the same period, reflecting an expansion of the company's financial obligations.
- Liability Structure and Trends
- Long-term operating lease liabilities represent the most significant component of the balance sheet. These liabilities increased consistently from 3.04 billion US dollars in March 2021 to 5.10 billion US dollars in June 2026, indicating a sustained expansion of the physical store footprint. Current liabilities also trended upward, moving from 834 million US dollars to 1.32 billion US dollars. Within current liabilities, accounts payable and unearned revenue showed steady growth, suggesting increased procurement activity and a higher volume of prepaid customer transactions.
- Equity Dynamics and Retained Earnings
- Shareholders' equity experienced significant volatility, particularly around June 2024. Retained earnings grew steadily from 3.40 billion US dollars in March 2021 to a peak of 6.42 billion US dollars in March 2024, before undergoing a sharp decline to 1.68 billion US dollars in June 2024. This downward trend continued until retained earnings reached a deficit of 67.16 million US dollars by June 2026. This shift coincides with a notable increase in common stock value, which rose from 376 thousand US dollars to 13.71 million US dollars in June 2024, and the cessation of reported treasury stock costs after March 2024, suggesting a major corporate restructuring or recapitalization event.
- Short-Term Obligations and Liquidity Indicators
- Accrued payroll and benefits exhibited cyclical fluctuations, typically peaking in the second and fourth quarters of each year. Unearned revenue demonstrated a consistent long-term increase, rising from 110 million US dollars in March 2021 to 218.80 million US dollars in June 2026, which may point to growth in gift card sales or other prepaid services. Income tax payable appeared sporadically, with a significant peak of 172.69 million US dollars in September 2023, indicating irregular tax settlement patterns.
- Overall Financial Position
- The ratio of liabilities to equity has shifted over the analyzed period. While shareholders' equity remained relatively stable between 2.10 billion and 3.71 billion US dollars, the aggressive growth in long-term lease obligations has increased the overall leverage of the organization. The transition of retained earnings into an accumulated deficit by mid-2026, paired with rising total liabilities, suggests a shift in the capital structure and a reliance on operational liabilities to fund growth.