The Securities and Exchange Commission (SEC) regulates companies that issue stock on the stock market. It receives financial reports from public companies electronically under a system called EDGAR (Electronic Data Gathering and Retrieval Service). Using the Internet, anyone may search the database for the reports that have been filed.
Using your Web browser, access the EDGAR database at www.sec.gov. To search the database, click on "Company Filings" at the top of the page. Then type in "chipotle" for the company name in the search window, and press enter.
Required:
To look at SEC filings, type in "10-Q" in the space indicating "Filing Type" and press enter. Skim down the left side until you locate the Form 10-Q (quarterly report) filed October 21, 2014. Click on the "Documents" for that report, click on the 10-Q document (first item), and skim to the Table of Contents.
1. Click on "Financial Statements" and skim to the "Condensed Consolidated Balance Sheets."
a. What was the amount of Chipotle's total assets for the most recent quarter reported?
b. Did current liabilities increase or decrease since December 31, 2013?
c. Compute the current ratio. How does it compare to the ratio indicated for Chipotle Mexican Grill in the chapter at December 31, 2014? What does this suggest about the company?
2. Skim to the Chipotle "Consolidated Statements of Cash Flow."
a. What amount did Chipotle spend on "leasehold improvements, property and equipment" for the quarter ended September 30, 2014? (Leasehold improvements are major renovations, such as adding elevators, to rented property.)
b. What was the total amount of cash flows used in financing activities?