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Chipotle Mexican Grill began with a single location in 1993 and now operates more than 1,700 restaurants. Adapted versions of the companys income statements (in
Chipotle Mexican Grill began with a single location in 1993 and now operates more than 1,700 restaurants. Adapted versions of the companys income statements (in $000s) are as follows:
2015 | 2014 | |||
Revenue | $4,501,223 | $4,108,269 | ||
Restaurant operating costs | ||||
Food, beverage, and packaging | 1,503,835 | 1,420,994 | ||
Labor | 1,045,726 | 904,407 | ||
Occupancy | 262,412 | 230,868 | ||
Other operating costs | 514,963 | 434,244 | ||
General and administrative expenses | 250,214 | 273,897 | ||
Depreciation and amortization | 130,368 | 110,474 | ||
Pre-opening costs | 16,922 | 15,609 | ||
Loss on disposal of assets | 13,194 | 6,976 | ||
Total operating expenses | 3,737,634 | 3,397,469 | ||
Income from operations | 763,589 | 710,800 | ||
Interest and other income (expense), net | 6,278 | 3,503 | ||
Income before income taxes | 769,867 | 714,303 | ||
Provision for income taxes | 294,265 | 268,929 | ||
Net income | $475,602 | $445,374 |
Prepare a common-size income statement for each year. (Round answers to 1 decimal place, e.g. 50.1%.)
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