v3.25.3

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2025	Dec. 31, 2024
Current assets:
Cash and cash equivalents	$ 698,743	$ 748,537
Accounts receivable, net	95,844	143,963
Inventory	46,436	48,942
Prepaid expenses and other current assets	100,542	97,538
Income tax receivable	109,684	67,229
Investments	722,531	674,378
Total current assets	1,773,780	1,780,587
Leasehold improvements, property and equipment, net	2,594,005	2,390,126
Long-term investments	347,694	868,025
Restricted cash	30,893	29,842
Operating lease assets	4,385,099	4,000,127
Other assets	128,438	113,728
Goodwill	21,939	21,939
Total assets	9,281,848	9,204,374
Current liabilities:
Accounts payable	260,190	210,695
Accrued payroll and benefits	193,156	261,913
Accrued liabilities	196,961	179,747
Unearned revenue	206,730	238,577
Current operating lease liabilities	293,027	277,836
Total current liabilities	1,150,064	1,168,768
Commitments and contingencies (Note 11)
Long-term operating lease liabilities	4,687,090	4,262,782
Deferred income tax liabilities	140,480	46,208
Other liabilities	82,376	71,070
Total liabilities	6,060,010	5,548,828
Shareholders' equity:
Preferred stock, $0.01 par value, 600,000 shares authorized, no shares issued as of September 30, 2025 and December 31, 2024, respectively	0	0
Common stock, $0.01 par value, 11,500,000 shares authorized, 1,325,678 and 1,358,751 shares issued as of September 30, 2025 and December 31, 2024, respectively	13,257	13,586
Additional paid-in capital	2,177,774	2,078,010
Accumulated other comprehensive loss	(7,927)	(10,282)
Retained earnings	1,038,734	1,574,232
Total shareholders' equity	3,221,838	3,655,546
Total liabilities and shareholders' equity	$ 9,281,848	$ 9,204,374

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

CHIPOTLE MEXICAN GRILL INC 10-Q