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E3.17 Below is a recent income statement for Chipotle (CMG). For each item listed, detennine the clas- sification that would be used in reformulation from
E3.17 Below is a recent income statement for Chipotle (CMG). For each item listed, detennine the clas- sification that would be used in reformulation from the following list: 0- Operating activities F- Financial activities S- Split between operating and financial activities !- Desire more detailed information but will initially classify as related to operating activities CHIPOTLE MEXICAN GRILL INC. CONSOLIDATED STATEMENT OF INCOME (in thousands, except per-share data) Years Ended December 31, 2018 2017 2016 Revenue... $4,864,985 $4,476,412 $3,904,384 Restaurant operating costs (exclusive of depreciation and amortization shown separately below): Food, beverage, and packaging 1.600,760 1,535,428 1,365,580 Labor... 1.326,079 1,206,992 1,105,001 Occupancy 347,123 327,132 293,636 Other operating costs 680,031 651,644 641.953 General and administrative expenses 375,460 296,388 276,240 Depreciation and amortization 201,979 163. 348 146,368 Pre-opening costs. 8,546 12.341 17,162 Loss on disposal of assets. 66,639 13,345 23,877 Total operating expenses 4,606,617 4,205,618 3,869,817 Income from operations .. 258,268 270,794 34,567 Interest and other income, net 10.068 4.949 4.172 Income before income taxes 268,436 275,743 38,739 Provision for income taxes (91,883) (99,490) (15,801) Net income. $ 176,553 $ 176,253 $ 22,938 Earnings per share: Basic 6.35 $ 6.19 $ 0.78 Diluted S 6.31 $ 6.17 $ 0.77 Weighted average common shares outstanding: Basic 27,823 28,491 29,265 Diluted 27,962 28,561 29.770 CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (in thousands) Years Ended December 31, 2018 2017 2016 Net income.. $176,553 $176.253 $ 22.938 Other comprehensive income (loss), net of income taxes Foreign currency translation adjustments..... (2736) 4,689 (1.291) Unrealized gain (loss) on available-for-sale securities...... 291 (274) 2.251 Tax benefit (expense) (132) 88 (849) Other comprehensive income (loss), net of income taxes... (2,577) 4,503 111 Comprehensive income $173.976 $180,756 $ 23,049
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