Chipotle Mexican Grill (CMG) 10-K8 Feb 232022 FY Annual reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - USD ($) $ in Millions	12 Months Ended
Document and Entity Information - USD ($) $ in Millions	Dec. 31, 2022	Feb. 06, 2023	Jun. 30, 2022
Document and Entity Information [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2022
Document Transition Report	false
Entity File Number	1-32731
Entity Registrant Name	CHIPOTLE MEXICAN GRILL, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	84-1219301
Entity Address, Address Line One	610 Newport Center Drive
Entity Address, Address Line Two	Suite 1100
Entity Address, City or Town	Newport Beach
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92660
City Area Code	949
Local Phone Number	524-4000
Title of 12(b) Security	Common stock, par value $0.01 per share
Trading Symbol	CMG
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 29,362
Entity Common Stock, Shares Outstanding		27,621,847
Documents Incorporated by Reference	DOCUMENTS INCORPORATED BY REFERENCE Part III incorporates certain information by reference from the registrant’s definitive proxy statement for the 2023 annual meeting of shareholders, which will be filed no later than 120 days after the close of the registrant’s fiscal year ended December 31, 2022.
Entity Central Index Key	0001058090
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Current Fiscal Year End Date	--12-31
Amendment Flag	false
Auditor Firm ID	42
Auditor Name	Ernst & Young LLP
Auditor Location	Irvine, California

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 384,000	$ 815,374
Accounts receivable, net	106,880	99,599
Inventory	35,668	32,826
Prepaid expenses and other current assets	86,412	78,756
Income tax receivable	47,741	94,064
Investments	515,136	260,945
Total current assets	1,175,837	1,381,564
Leasehold improvements, property and equipment, net	1,951,147	1,769,278
Long-term investments	388,055	274,311
Restricted cash	24,966	30,856
Operating lease assets	3,302,402	3,118,294
Other assets	63,158	56,716
Goodwill	21,939	21,939
Total assets	6,927,504	6,652,958
Current liabilities:
Accounts payable	184,566	163,161
Accrued payroll and benefits	170,456	162,405
Accrued liabilities	147,539	173,052
Unearned revenue	183,071	156,351
Current operating lease liabilities	236,248	218,713
Total current liabilities	921,880	873,682
Commitments and contingencies (Note 11)
Long-term operating lease liabilities	3,495,162	3,301,601
Deferred income tax liabilities	98,623	141,765
Other liabilities	43,816	38,536
Total liabilities	4,559,481	4,355,584
Shareholders' equity:
Preferred stock, $0.01 par value, 600,000 shares authorized, no shares issued as of December 31, 2022 and December 31, 2021, respectively	0	0
Common stock, $0.01 par value, 230,000 shares authorized, 37,320 and 37,132 shares issued as of December 31, 2022 and December 31, 2021, respectively	373	371
Additional paid-in capital	1,829,304	1,729,312
Treasury stock, at cost, 9,693 and 9,052 common shares as of December 31, 2022 and December 31, 2021, respectively	(4,282,014)	(3,356,102)
Accumulated other comprehensive loss	(7,888)	(5,354)
Retained earnings	4,828,248	3,929,147
Total shareholders' equity	2,368,023	2,297,374
Total liabilities and shareholders' equity	$ 6,927,504	$ 6,652,958

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2022	Dec. 31, 2021
Consolidated Balance Sheets [Abstract]
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	600,000,000	600,000,000
Preferred stock, shares issued	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	230,000,000	230,000,000
Common stock, shares issued	37,320,000	37,132,000
Treasury stock, shares at cost	9,693,000	9,052,000

Consolidated Statements of Inco

Consolidated Statements of Income and Comprehensive Income - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Total revenue	$ 8,634,652	$ 7,547,061	$ 5,984,634
Restaurant operating costs (exclusive of depreciation and amortization shown separately below):
Food, beverage and packaging	2,602,245	2,308,631	1,932,766
Labor	2,197,958	1,917,761	1,593,013
Occupancy	460,425	416,606	387,762
Other operating costs	1,311,905	1,197,054	1,030,012
General and administrative expenses	564,191	606,854	466,291
Depreciation and amortization	286,826	254,657	238,534
Pre-opening costs	29,560	21,264	15,515
Impairment, closure costs, and asset disposals	21,139	19,291	30,577
Total operating expenses	7,474,249	6,742,118	5,694,470
Income from operations	1,160,403	804,943	290,164
Interest and other income, net	21,128	7,820	3,617
Income before income taxes	1,181,531	812,763	293,781
Benefit/(provision) for income taxes	(282,430)	(159,779)	61,985
Net income	$ 899,101	$ 652,984	$ 355,766
Earnings per share:
Basic	$ 32.28	$ 23.21	$ 12.74
Diluted	$ 32.04	$ 22.90	$ 12.52
Weighted-average common shares outstanding:
Basic	27,851	28,132	27,917
Diluted	28,062	28,511	28,416
Other comprehensive income (loss), net of income taxes:
Foreign currency translation adjustments	$ (2,534)	$ (1,125)	$ 1,134
Comprehensive income	896,567	651,859	356,900
Food and Beverage [Member]
Total revenue	8,558,001	7,457,169	5,920,545
Delivery Service [Member]
Total revenue	$ 76,651	$ 89,892	$ 64,089

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity - USD ($) shares in Thousands, $ in Thousands	Common Stock [Member] Revision of Prior Period, Accounting Standards Update, Adjustment [Member]	Common Stock [Member]	Additional Paid-In Capital [Member] Revision of Prior Period, Accounting Standards Update, Adjustment [Member]	Additional Paid-In Capital [Member]	Treasury Stock [Member] Revision of Prior Period, Accounting Standards Update, Adjustment [Member]	Treasury Stock [Member]	Retained Earnings [Member] Revision of Prior Period, Accounting Standards Update, Adjustment [Member]	Retained Earnings [Member]	Foreign Currency Translation [Member] Revision of Prior Period, Accounting Standards Update, Adjustment [Member]	Foreign Currency Translation [Member]	Revision of Prior Period, Accounting Standards Update, Adjustment [Member]	Total
Balance (Accounting Standards Update 2016-02 [Member]) at Dec. 31, 2019	$ 0		$ 0		$ 0		$ (1,051)		$ 0		$ (1,051)
Balance at Dec. 31, 2019		$ 363		$ 1,465,697		$ (2,699,119)		$ 2,921,448		$ (5,363)		$ 1,683,026
Balance, Shares (Accounting Standards Update 2016-02 [Member]) at Dec. 31, 2019	0
Balance, Shares at Dec. 31, 2019		36,323				8,568
Stock-based compensation		$ 0		84,463		$ 0		0		0		84,463
Stock-based compensation, Shares		0				0
Stock plan transactions and other		$ 4		(251)		$ 0		0		0		(247)
Stock plan transactions and other, Shares		381				0
Acquisition of treasury stock		$ 0		0		$ (102,956)		0		0		(102,956)
Acquisition of treasury stock, Shares		0				135
Net income		$ 0		0		$ 0		355,766		0		355,766
Other comprehensive income (loss), net of income tax		0		0		0		0		1,134		1,134
Balance at Dec. 31, 2020		$ 367		1,549,909		$ (2,802,075)		3,276,163		(4,229)		2,020,135
Balance, Shares at Dec. 31, 2020		36,704				8,703
Stock-based compensation		$ 0		178,703		$ 0		0		0		178,703
Stock-based compensation, Shares		0				0
Stock plan transactions and other		$ 4		700		$ 0		0		0		704
Stock plan transactions and other, Shares		428				0
Acquisition of treasury stock		$ 0		0		$ (554,027)		0		0		(554,027)
Acquisition of treasury stock, Shares		0				349
Net income		$ 0		0		$ 0		652,984		0		652,984
Other comprehensive income (loss), net of income tax		0		0		0		0		(1,125)		(1,125)
Balance at Dec. 31, 2021		$ 371		1,729,312		$ (3,356,102)		3,929,147		(5,354)		2,297,374
Balance, Shares at Dec. 31, 2021		37,132				9,052
Stock-based compensation		$ 0		99,821		$ 0		0		0		99,821
Stock-based compensation, Shares		0				0
Stock plan transactions and other		$ 2		171		$ 0		0		0		173
Stock plan transactions and other, Shares		188				0
Acquisition of treasury stock		$ 0		0		$ (925,912)		0		0		(925,912)
Acquisition of treasury stock, Shares		0				641
Net income		$ 0		0		$ 0		899,101		0		899,101
Other comprehensive income (loss), net of income tax		0		0		0		0		(2,534)		(2,534)
Balance at Dec. 31, 2022		$ 373		$ 1,829,304		$ (4,282,014)		$ 4,828,248		$ (7,888)		$ 2,368,023
Balance, Shares at Dec. 31, 2022		37,320				9,693

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Operating activities
Net income	$ 899,101	$ 652,984	$ 355,766
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	286,826	254,657	238,534
Deferred income tax provision	(43,195)	(12,357)	108,350
Impairment, closure costs, and asset disposals	20,738	17,086	28,874
Provision for credit losses	(760)	493	164
Stock-based compensation expense	98,030	176,392	82,626
Other	(16,202)	(4,599)	3,643
Changes in operating assets and liabilities:
Accounts receivable	(14,026)	(1,687)	3,010
Inventory	(3,011)	(6,392)	(394)
Prepaid expenses and other current assets	(14,660)	(26,826)	(11,442)
Operating lease assets	234,273	223,837	184,538
Other assets	(346)	3,993	(26,577)
Accounts payable	18,208	21,440	(3,859)
Accrued payroll and benefits	9,864	(44,555)	76,683
Accrued liabilities	(27,964)	10,997	5,596
Unearned revenue	33,374	34,387	36,958
Income tax payable/receivable	46,262	193,379	(255,251)
Operating lease liabilities	(207,186)	(207,164)	(165,154)
Other long-term liabilities	3,853	(3,984)	1,782
Net cash provided by operating activities	1,323,179	1,282,081	663,847
Investing activities
Purchases of leasehold improvements, property and equipment	(479,164)	(442,475)	(373,352)
Purchases of investments	(614,416)	(429,350)	(468,418)
Maturities of investments	263,548	345,748	419,078
Proceeds from sale of equipment	0	4,035	0
Acquisitions of equity method investments			(10,025)
Net cash used in investing activities	(830,032)	(522,042)	(432,717)
Financing activities
Acquisition of treasury stock	(830,140)	(466,462)	(54,401)
Tax withholding on stock-based compensation awards	(98,970)	(79,870)	(48,555)
Other financing activities	(294)	(2,274)	(1,895)
Net cash used in financing activities	(929,404)	(548,606)	(104,851)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(1,007)	(1,039)	1,076
Net change in cash, cash equivalents, and restricted cash	(437,264)	210,394	127,355
Cash, cash equivalents, and restricted cash at beginning of year	846,230	635,836	508,481
Cash, cash equivalents, and restricted cash at end of year	408,966	846,230	635,836
Supplemental disclosures of cash flow information
Income taxes (refunded)		(17,831)
Income taxes paid	275,796		85,010
Purchases of leasehold improvements, property, and equipment accrued in accounts payable and accrued liabilities	72,021	63,802	46,975
Acquisition of treasury stock accrued in accounts payable and accrued liabilities	$ 4,497	$ 7,695	$ 0

Description of Business and Sum

Description of Business and Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2022
Description of Business and Summary of Significant Accounting Policies [Abstract]
Description of Business and Summary of Significant Accounting Policies	1. Description of Business and Summary of Significant Accounting Policies In this annual report on Form 10-K, Chipotle Mexican Grill, Inc., a Delaware corporation, together with its subsidiaries, is collectively referred to as “Chipotle,” “we,” “us,” or “our.” We develop and operate restaurants that serve a relevant menu of burritos, burrito bowls, quesadillas, tacos, and salads, made using fresh, high- quality ingredients. As of December 31, 2022, we operated 3,187 restaurants, including 3,129 Chipotle restaurants within the United States, 53 international Chipotle restaurants, and five Pizzeria Locale restaurants. Pizzeria Locale is a fast casual pizza concept that is owned and operated by a consolidated entity that we are an investor in. We manage our U.S. operations based on eight regions and have aggregated our operations to one reportable segment. Principles of Consolidation and Basis of Presentation Our consolidated financial statements include our accounts, our wholly and majority owned subsidiaries and investees we control after elimination of all intercompany accounts and transactions. Certain prior-year amounts have been reclassified to conform to the current year presentation. Management Estimates The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities as of the date of the financial statements, as well as the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates under different assumptions or conditions. Cash and Cash Equivalents We consider highly liquid investment instruments purchased with an initial maturity of three months or less to be cash equivalents. Amounts receivable from credit card companies are also considered cash equivalents as they are both short term and highly liquid in nature. We maintain cash and cash equivalent balances that exceed federally-insured limits with a number of financial institutions. Restricted Cash We maintain certain cash balances restricted as to withdrawal or use. Restricted cash assets are primarily insurance-related restricted trust assets. Accounts Receivable Accounts receivable primarily consists of receivables from third party gift card distributors, delivery partners, insurance liabilities covered by third-party insurance carriers and vendor rebates. Allowance for Credit Losses We closely monitor accounts receivable and held to maturity investment balances and estimate the allowance for credit losses when lifetime credit losses are expected by management. Our estimate is based on historical collection experience, external market data and other factors, including those related to current market conditions and events. We do not recognize a reserve for expected credit losses related to our U.S. Treasury security investments as management has concluded there is no risk of non-payment. As of December 31, 2022 and 2021, our allowance for credit losses was $ 1,180 and $ 1,950 , respectively. Inventory Inventory , consisting principally of food, beverages, and supplies, is valued at the lower of first-in, first-out cost or net realizable value. Equity Method Investments Investments are accounted for under the equity method if we are able to exercise significant influence, but not control, over an investee. Our share of the earnings or losses as reported by the investees is classified as income from equity investees on our consolidated statements of income and comprehensive income. The investments are evaluated for impairment annually and when facts and circumstances indicate that the carrying value may not be recoverable. If a decline in fair value is determined to be other-than-temporary, an impairment charge is recorded in interest income and other income, net on our consolidated statements of income and comprehensive income. Investments Investments classified as trading securities are carried at fair value with any unrealized gain or loss being recorded in the consolidated statements of income and comprehensive income. Investments classified as available-for-sale are carried at fair value with unrealized gains and losses, net of tax, included as a component of other comprehensive income (loss), net of income taxes on the consolidated statements of income and comprehensive income. Held-to-maturity securities are carried at amortized cost. Non-marketable equity investments are measured at cost, less impairments, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or similar investment of the same issuer. Impairment charges on investments are recognized in interest and other income, net on the consolidated statements of income and comprehensive income when management believes the decline in the fair value of the investment is other-than-temporary. Fair Value Measurements Fair value is the price we would receive to sell an asset or pay to transfer a liability (exit price) in an orderly transaction between market participants. For assets and liabilities recorded or disclosed at fair value, we determine fair value based on the following: Level 1: Quoted prices in active markets for identical assets or liabilities that the entity has the ability to access. Level 2: Observable inputs other than prices included in Level 1, such as quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; or other inputs that are observable or can be corroborated with observable market data. Level 3: Unobservable inputs for the asset or liability. This includes certain pricing models, discounted cash flow methodologies and similar techniques that use significant unobservable inputs. Foreign Currency Translation Our international operations use the local currency as the functional currency. Assets and liabilities are translated at exchange rates in effect as of the balance sheet date. Income and expense accounts are translated monthly using average monthly exchange rates. Resulting translation adjustments are recorded as a separate component of other comprehensive income (loss), net of income taxes on the consolidated statement of income and comprehensive income. Leasehold Improvements, Property and Equipment Leasehold improvements, property and equipment are recorded at cost. Internal costs directly associated with the acquisition, development and construction of a restaurant are capitalized. During the years ended December 31, 2022, 2021 and 2020, we capitalized $ 12,695 , $ 10,870 , and $ 9,268 of internal costs, respectively. Expenditures for refurbishments and improvements that significantly add to the productivity capacity or extend the useful life are capitalized, while expenditures for maintenance and repairs are expensed as incurred. Depreciation is calculated using the straight-line method over the estimated useful lives of the assets. Leasehold improvements are amortized over the shorter of the lease term, which generally includes option periods that are reasonably certain, or the estimated useful lives of the assets. Upon retirement or disposal of assets, the accounts are relieved of cost and accumulated depreciation and any related gain or loss is reflected in impairment, closure costs, and asset disposals in the consolidated statements of income and comprehensive income . Assets to be disposed of are reported at the lower of their carrying amount or fair value less estimated costs to sell. At least annually, or when impairment indicators are present, we evaluate, and adjust when necessary, the estimated useful lives of leasehold improvements, property and equipment. The changes in estimated useful lives did not have a material impact on depreciation in any period. The estimated useful lives are: Leasehold improvements and buildings 3 - 20 years Furniture and fixtures 4 - 7 years Equipment 3 - 10 years Leases The majority of our operating leases consist of restaurant locations and office space. We determine if a contract contains a lease at inception. Our leases generally have remaining terms of 1 - 20 years and most include options to extend the leases for additional 5 -year periods. Generally, the lease term is the minimum of the noncancelable period of the lease or the lease term inclusive of reasonably certain renewal periods up to a term of 20 years. We recognize an operating lease asset and operating lease liability for each lease with a contractual term greater than 12 months at the time of lease inception. We do not record leases with an initial term of 12 months or less on our consolidated balance sheet but continue to record rent expense on a straight-line basis over the lease term. Operating lease assets and liabilities are recognized at the lease commencement date, which is the date we control the use of the property. Operating lease liabilities represent the present value of lease payments not yet paid. We made the policy election to combine lease and non-lease components. We consider fixed CAM part of our fixed future lease payments; therefore, fixed CAM is also included in our lease liability. To determine the present value of lease payments not yet paid, we estimate incremental borrowing rates corresponding to the lease term including reasonably certain renewal periods. As we have no outstanding debt nor committed credit facilities, secured or otherwise, we estimate this rate based on prevailing financial market conditions, comparable company and credit analysis, and management judgment. Total lease costs recorded primarily as occupancy costs include fixed operating lease costs, variable lease costs and short-term lease costs. Most of our real estate leases require we pay certain expenses, such as CAM costs, real estate taxes and insurance, of which the fixed portion is included in operating lease costs. We recognize operating lease costs on a straight-line basis over the lease term. In addition to the above costs, variable lease costs also include amounts based on a percentage of gross sales in excess of specified levels and are recognized when probable and are not included in determining the present value of our operating lease liability. Operating lease assets represent our right to use an underlying asset and are based upon the operating lease liabilities adjusted for prepayments, initial direct costs, lease incentives, and impairment of operating lease assets. For operating leases, operating lease assets are reduced over the lease term by the recognized straight-line lease expense less the amount of accretion of the lease liability. Additionally, tenant incentives used to fund leasehold improvements are generally recognized when earned and reduce our right-of-use asset related to the lease. These are amortized through the operating lease asset as reductions of expense over the lease term. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants. We have not entered into any leases with related parties. Goodwill Goodwill is not subject to amortization, but instead is tested for impairment annually in the fourth quarter, or more frequently when impairment indicators are present, and we are required to record any necessary impairment adjustments. Impairment is measured as the excess of the carrying value over the fair value of the goodwill. No impairment charges were recognized on goodwill for the years ended December 31, 2022, 2021, and 2020. Other Assets Other assets consist primarily of a rabbi trust as described further in Note 4. “Fair Value of Financial Instruments,” software as a service implementation costs where the service period is greater than one year, an equity method investment described further in Note 5. “Equity Investments” and transferable liquor licenses. Insurance Liability We are self-insured for a significant portion of our employee health benefits programs, and carry significant retentions for risks and associated liabilities with respect to workers’ compensation, general liability, property and auto damage, employment practices liability, cyber liability and directors’ and officers’ liability. Predetermined loss limits have been arranged with third party insurance companies to limit exposure to these claims. We record a liability that represents our estimated cost of claims incurred and unpaid as of the balance sheet date. Our estimated liability is not discounted and is based on a number of assumptions and factors, including historical trends, actuarial assumptions and economic conditions, and is closely monitored and adjusted when warranted by changing circumstances. Reserves/Contingencies for Litigation and Other Matters We are involved in various claims and legal actions that arise in the ordinary course of business. We record an accrual for legal contingencies when we determine that it is probable that we have incurred a liability and we can reasonably estimate the amount of the loss. Income Taxes We compute income taxes using the asset and liability method, under which deferred income tax assets and liabilities are recognized based on the differences between the financial reporting bases and the respective tax bases of assets and liabilities. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which we expect the temporary differences to reverse. Any effects of changes in income tax rates or tax laws are included in the provision for income taxes in the period that includes the enactment date. We routinely assess the realizability of our deferred tax assets by jurisdiction and may record a valuation allowance if, based on all available positive and negative evidence, we determine that some portion of the deferred tax assets may not be realized prior to expiration. If we determine that we may be able to realize our deferred tax assets in the future in excess of their net recorded amount, we would make an adjustment to the deferred tax asset valuation allowance, which would reduce the provision for income taxes during the period in which the determination was made that the deferred tax asset can be realized. We evaluate our tax filing positions and recognize a tax benefit from an uncertain tax position only if it is more likely than not that based on its technical merits the tax position will be sustained upon examination by the relevant taxing authorities, including resolutions of any related appeals or litigation processes. The tax benefits recognized in the financial statements from such a position are measured based on the largest tax benefit that has a greater than 50 % likelihood of being realized upon settlement with a taxing authority. For uncertain tax positions that do not meet this threshold, we record a related tax reserve in the period in which it arises. We adjust our unrecognized tax benefit liability and provision for income taxes in the period in which the uncertain tax position is effectively settled, the statute of limitations expires for the relevant taxing authority to examine the tax position or when new information becomes available that requires a change in recognition and/or measurement of the liability. We recognize interest to be paid on an underpayment of income taxes in interest expense and any related statutory penalties in the provision for income taxes in our consolidated statements of income and comprehensive income . Accrued interest and penalties are included within the related tax reserve on our consolidated balance sheets. Revenue Recognition We generally recognize revenue, net of discounts and incentives, when payment is tendered at the point of sale. We report revenue net of sales-related taxes collected from customers and remitted to governmental taxing authorities. Food and beverage revenue primarily relates to the sale of food and beverages. Delivery service revenue is comprised of delivery and related service fees charged to customers on sales made through Chipotle’s app and website. Delivery We offer our customers delivery in almost all of our geographic regions. Delivery services are fulfilled by third-party service providers. In some cases, we make delivery sales through our website Chipotle.com or the Chipotle App (“White Label Sales”). In other cases, we make delivery sales through a non-Chipotle owned channel, such as the delivery partner’s website or mobile app (“Marketplace Sales”). With respect to White Label Sales, we control the delivery services and generally recognize revenue, including delivery fees, when the delivery partner transfers food to the customer. For these sales, we receive payment directly from the customer at the time of sale. With respect to Marketplace Sales, we generally recognize revenue, excluding delivery fees collected by the delivery partner, when control of the food is transferred to the delivery partner. We receive payment from the delivery partner subsequent to the transfer of food and the payment terms are short-term in nature. Gift Cards We sell gift cards, which do not have expiration dates and we do not deduct non-usage fees from outstanding gift card balances. Gift card balances are initially recorded as unearned revenue. We recognize revenue from gift cards when the gift card is redeemed by the customer. Historically, the majority of gift cards are redeemed within one year. In addition, a portion of gift cards are not expected to be redeemed and will be recognized as breakage over time in proportion to gift card redemptions (“gift card breakage rate”) . The gift card breakage rate is based on company and program specific information, including historical redemption patterns, and expected remittance to government agencies under unclaimed property laws, if applicable. We evaluate our gift card breakage rate estimate annually, or more frequently as circumstances warrant, and apply that rate to gift card redemptions. Gift card liability balances are typically highest at the end of each calendar year following increased gift card sales during the holiday season; accordingly, revenue recognized from gift card liability balances is highest in the first quarter of each calendar year. Chipotle Rewards We have a loyalty program called Chipotle Rewards. Eligible customers who enroll in the program generally earn points for every dollar spent. In June 2021, we enhanced Chipotle Rewards and introduced a new redemption feature we call the “Rewards Exchange” that provides loyalty members multiple redemption options. Previously, Chipotle Rewards points were automatically redeemed for a free entrée when the customer obtained the required number of points. The change in the Chipotle Rewards program did not have a material impact on our consolidated financial statements. We may also periodically offer promotions, which typically provide the customer with the opportunity to earn bonus points or other rewards. Earned rewards generally expire one month to two months after they are issued, and points generally expire if an account is inactive for a period of six months . We defer revenue associated with the estimated selling price of points or rewards earned by customers as each point or reward is earned, net of points or rewards we do not expect to be redeemed. The estimated selling price of each point or reward earned is based on the estimated value of the product for which the reward is expected to be redeemed. Our estimate of points and rewards we expect to be redeemed is based on historical and other company specific data. The costs associated with rewards redeemed are primarily included in food, beverage, and packaging on our consolidated statements of income and comprehensive income. We evaluate Chipotle Rewards point breakage annually, or more frequently as circumstances warrant. We completed our most recent breakage assessment as of October 31, 2022, which resulted in a reduction in revenue recognized of $ 6,070 during the three months ended December 31, 2022. The reduction in revenue recognized was primarily the result of a change in our ultimate redemption rate estimate as program data indicated a higher redemption trend than previously estimated. We recognize loyalty revenue within food and beverage revenue on the consolidated statements of income and comprehensive income when a customer redeems an earned reward. Deferred revenue associated with Chipotle Rewards is included in unearned revenue on our consolidated balance sheets. Advertising, Marketing and Promotional Costs Advertising, marketing and promotional costs are expensed as incurred and totaled $ 250,673 , $ 222,091 and $ 222,820 for the years ended December 31, 2022, 2021 and 2020, respectively. Advertising, marketing and promotional costs include costs related to free food which a customer does not need to make a purchase to earn. These costs are included in other operating costs on the consolidated statements of income and comprehensive income . Stock-Based Compensation During 2022, we issued shares as part of employee compensation pursuant to the Amended and Restated Chipotle Mexican Grill, Inc. 2011 Stock Incentive Plan (the “2011 Incentive Plan”), which was replaced on May 18, 2022 by the Chipotle Mexican Grill, Inc. 2022 Stock Incentive Plan (the “2022 Incentive Plan”). SOSARs and stock awards generally vest equally over two and three years and expire after seven years . Stock-based compensation expense is generally recognized on a straight-line basis for each separate vesting portion. Compensation expense related to employees eligible to retire and retain full rights to the awards is recognized over 12 months which coincides with the service period required to earn the full award. We estimate forfeitures based on historical data when determining the amount of stock-based compensation costs to be recognized in each period. We have also granted stock awards with performance vesting conditions and/or market vesting conditions. Stock awards with performance or market vesting conditions generally vest based on our achievement versus stated targets or criteria over a three-year performance and service period. Compensation expense on stock awards subject to performance conditions, which is based on the quantity of awards we have determined are probable of vesting, is recognized over the longer of the estimated performance goal attainment period or time vesting period. Compensation expense is recognized ratably for awards subject to market conditions regardless of whether the market condition is satisfied, provided that the requisite service has been provided. Some stock-based compensation awards are made to employees involved in our new restaurant development activities, and expense for these awards is recognized as capitalized development and included in leasehold improvements, property and equipment, net, on the consolidated balance sheets. Restaurant Pre-Opening Costs Pre-opening costs, including rent, wages, benefits and travel for training and opening teams, food and other restaurant operating costs, are expensed as incurred prior to a restaurant opening for business, and are included in operating expenses on the consolidated statements of income and comprehensive income . Impairment of Long-Lived Assets Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. For the purpose of reviewing restaurant assets to be held and used for potential impairment, assets are grouped together at the market level, or in the case of a potential relocation or closure, at the restaurant level. We manage our restaurants as a group with common costs and promotional activities; as such, an individual restaurant’s cash flows are not generally independent of the cash flows of others in a market. The fair value measurement for asset impairment is generally based on Level 3 inputs. See “Fair Value Measurements” above for a description of level inputs. We first compare the carrying value of the asset (or asset group, referred interchangeably throughout as asset) to the asset’s estimated future undiscounted cash flows. If the estimated undiscounted future cash flows are less than the carrying value of the asset, we determine if we have an impairment loss by comparing the carrying value of the asset to the asset's estimated fair value. The estimated fair value of the asset is generally determined using the income approach to measure the fair value, which is based on the present value of estimated future cash flows. Key inputs to the income approach for restaurant assets include the discount rate, projected restaurant revenues and expenses, and sublease income if we are closing the restaurant. In certain cases, management uses other market information, when available, to estimate the fair value of an asset. The impairment charges represent the excess of each asset’s carrying amount over its estimated fair value and are allocated among the long-lived asset or assets of the group. Earnings per Share Basic earnings per share is calculated by dividing income available to common shareholders by the weighted-average number of shares of common stock outstanding during each period. Diluted earnings per share (“diluted EPS”) is calculated using income available to common shareholders divided by diluted weighted-average shares of common stock outstanding during each period. Potentially dilutive securities include shares of common stock underlying SOSARs and non-vested stock awards (collectively “stock awards”). Diluted EPS considers the impact of potentially dilutive securities except in periods in which there is a loss because the inclusion of the potential common shares would have an anti-dilutive effect. Stock awards are excluded from the calculation of diluted EPS in the event they are subject to performance conditions or are antidilutive. Recently Issued Accounting Standards In March 2020, the FASB issued ASU No. 2020-04, “Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting.” The pronouncement provides temporary optional expedients and exceptions to the current guidance on contract modifications and hedge accounting to ease the financial reporting burden related to the expected market transition from the London Interbank Offered Rate ("LIBOR") and other interbank offered rates to alternative reference rates. The guidance was effective upon issuance and generally can be applied to applicable contract modifications through December 31, 2024 (the sunset date was extended from December 31, 2022 to December 31, 2024 by the issuance of ASU No. 2022-06 in December 2022). We are evaluating the impact of the transition from LIBOR to alternative reference rates but do not expect a significant impact to our consolidated financial statements. We reviewed all other recently issued accounting pronouncements and concluded that they were either not applicable or not expected to have a significant impact to the consolidated financial statements.

Supplemental Balance Sheet Info

Supplemental Balance Sheet Information	12 Months Ended
Supplemental Balance Sheet Information	Dec. 31, 2022
Supplemental Balance Sheet Information [Abstract]
Supplemental Balance Sheet Information	2. Supplemental Balance Sheet Information Leasehold improvements, property and equipment, net were as follows: December 31, 2022 2021 Land $ 12,943 $ 12,943 Leasehold improvements and buildings 2,317,277 2,094,227 Furniture and fixtures 242,166 222,774 Equipment 989,895 868,435 Construction in Progress 123,453 107,222 Leasehold improvements, property and equipment, gross 3,685,734 3,305,601 Accumulated depreciation ( 1,734,587 ) ( 1,536,323 ) Leasehold improvements, property and equipment, net $ 1,951,147 $ 1,769,278 Accrued payroll and benefits were as follows: December 31, 2022 2021 Workers' compensation liability $ 27,531 $ 27,456 Accrued payroll and bonuses 109,190 107,799 Other accrued payroll and benefits 33,735 27,150 Accrued payroll and benefits $ 170,456 $ 162,405 Accrued liabilities were as follows: December 31, 2022 2021 Sales and use tax payable $ 35,567 $ 32,004 Legal reserve liability 15,227 48,098 Other accrued liabilities 96,745 92,950 Accrued liabilities $ 147,539 $ 173,052

Revenue Recognition

Revenue Recognition	12 Months Ended
Revenue Recognition	Dec. 31, 2022
Revenue Recognition [Abstract]
Revenue Recognition	3. Revenue Recognition Gift Cards The gift card liability included in unearned revenue on the consolidated balance sheets was as follows: December 31, 2022 2021 Gift card liability $ 145,014 $ 130,779 Revenue recognized from the redemption of gift cards that was included in unearned revenue at the beginning of the year was as follows: Year ended December 31, 2022 2021 2020 Revenue recognized from gift card liability balance at the beginning of the year $ 59,175 $ 48,605 $ 39,612 Chipotle Rewards Changes in our Chipotle Rewards liability included in unearned revenue on the consolidated balance sheets were as follows: Year ended December 31, 2022 2021 2020 Chipotle Rewards liability, beginning balance $ 25,572 $ 22,337 $ 10,584 Revenue deferred 121,406 106,759 87,259 Revenue recognized ( 108,921 ) ( 103,524 ) ( 75,506 ) Chipotle Rewards liability, ending balance $ 38,057 $ 25,572 $ 22,337

Fair Value of Financial Instrum

Fair Value of Financial Instruments	12 Months Ended
Fair Value of Financial Instruments	Dec. 31, 2022
Fair Value of Financial Instruments [Abstract]
Fair Value of Financial Instruments	4 . Fair Value of Fin ancial Instruments Assets and Liabilities Measured at Fair Value on a Recurring Basis The carrying value of our cash and cash equivalents, restricted cash, accounts receivable and accounts payable approximate fair value because of their short-term nature. Our held-to-maturity investments are comprised of U.S. Treasury securities and a corporate debt security, which are held at amortized cost. We also have an investment in a convertible note receivable which is held at fair-value. Additionally, we maintain a deferred compensation plan with related assets held in a rabbi trust. The following tables show our cash, cash equivalents, and debt investments by significant investment category as of December 31, 2022 and 2021: December 31, 2022 Adjusted cost Unrealized Gains Unrealized Losses Fair Value Cash and Cash Equivalents Current Investments Long-term Investments Cash $ 75,829 $ - $ - $ 75,829 $ 75,829 $ - $ - Level 1 (1) Money market funds 232,477 - - 232,477 232,477 - - Time deposits 75,694 - - 75,694 75,694 - - U.S. Treasury securities 847,354 63 14,355 833,062 - 515,136 332,218 Subtotal 1,155,525 63 14,355 1,141,233 308,171 515,136 332,218 Level 3 Corporate debt security (2) 17,900 - 700 17,200 - - 17,900 Note receivable (3) 4,860 222 - 5,082 - - 5,082 Subtotal 22,760 222 700 22,282 - - 22,982 Total $ 1,254,114 $ 285 $ 15,055 $ 1,239,344 $ 384,000 $ 515,136 $ 355,200 December 31, 2021 Adjusted cost Unrealized Gains Unrealized Losses Fair Value Cash and Cash Equivalents Current Investments Long-term Investments Cash $ 119,639 $ - $ - $ 119,639 $ 119,639 $ - $ - Level 1 (1) Money market funds 547,530 - - 547,530 547,530 - - Time deposits 148,205 - - 148,205 148,205 - - U.S. Treasury securities 501,288 - 1,116 500,172 - 260,945 240,343 Subtotal 1,197,023 - 1,116 1,195,907 695,735 260,945 240,343 Level 3 Corporate debt security (2) 18,000 - - 18,000 - - 18,000 Note receivable (3) - - - - - - - Subtotal 18,000 - - 18,000 - - 18,000 Total $ 1,334,662 $ - $ 1,116 $ 1,333,546 $ 815,374 $ 260,945 $ 258,343 (1) Level 1: Quoted prices in active markets for identical assets or liabilities that the entity has the ability to access. (2) The fair value of the corporate debt security is measured using Level 3 (unobservable) inputs. We determined the fair value for the corporate debt security using an internally-developed valuation model and unobservable inputs include credit and liquidity spreads and effective maturity . (3) We have elected to measure our investment in a convertible note receivable of a private company at fair value under the fair value option. The fair value of the note receivable is measured using Level 3 (unobservable) inputs. We determined the fair value for the note receivable using an internally-developed valuation model and unobservable inputs include estimates of the equity value of the underlying business and the timing and probability of future financing events. Rabbi Trust We have elected to fund certain deferred compensation obligations, as described further in Note 8. “Stock-Based Compensation and Employee Benefit Plans”, through a rabbi trust, the assets of which are designated as trading securities . The rabbi trust is subject to creditor claims in the event of insolvency, but the assets held in the rabbi trust are not available for general corporate purposes. Amounts in the rabbi trust are invested in mutual funds, consistent with the investment choices selected by participants in their Deferred Plan accounts, which are designated as trading securities, carried at fair value, and are included in other assets on the consolidated balance sheets. We record trading gains and losses, along with the offsetting amount related to the increase or decrease in deferred compensation to reflect our exposure to liabilities for payment under the deferred plan in general and administrative expenses on the consolidated statements of income and comprehensive income. Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis Assets recognized or disclosed at fair value on the consolidated financial statements on a nonrecurring basis include items such as leasehold improvements, property and equipment, certain long-term investments, operating lease assets, other assets, and goodwill. These assets are measured at fair value whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable or if there has been an observable price change of a non-marketable equity security. The following table summarizes our restaurant and office assets measured at fair value by hierarchy level on a nonrecurring basis: December 31, Level 2022 2021 Leasehold improvements, property and equipment, net 3 $ 264 $ 1,041 Operating lease assets 3 713 2,791 Total $ 977 $ 3,832 Fair value of these assets was measured using Level 3 inputs (unobservable inputs for the asset or liability). Unobservable inputs include the discount rate, projected restaurant revenues and expenses, and sublease income if we are closing the restaurant and intending to sublease the restaurant. For the years ended December 31, 2022, 2021 and 2020 we recorded asset impairments related to restaurants and offices of $ 2,387 , $ 4,727 and $ 16,683 , respectively. Costs are recorded within impairment, closure costs, and asset disposals on the consolidated statements of income and comprehensive income. Carrying value after the impairment charges approximates fair value.

Equity Investments

Equity Investments	12 Months Ended
Equity Investments	Dec. 31, 2022
Equity Investments [Abstract]
Equity Investments	5. Equity Investments December 31, 2022 2021 Equity method investments $ 11,697 $ 9,251 Other investments 32,855 15,968 Total $ 44,552 $ 25,219 Equity Method Investments As of December 31, 2022, we owned 4,325 shares of common stock of Tractor Beverages, Inc. (“Tractor”). Our investment represents ownership of approximately 10.3 % of Tractor, and we have invested total cash consideration of $ 10,000 . As we are a significant customer of Tractor and maintain board representation, we are accounting for our investment under the equity method. There were no impairment charges for the year ended December 31, 2022 or 2021 associated with this equity method investment. The investment in common stock is included within other assets on the consolidated balance sheets with a carrying value of $ 11,697 and $ 9,251 as of December 31, 2022 and December 31, 2021, respectively. Refer to Note 13. “Related Party Transactions” for related party disclosures. Other Investments As of December 31, 2022, we hold warrants (the “Tractor Warrants”) to purchase 3,772 shares of common stock of Tractor. Tractor is a privately held company, and as such, the Tractor Warrants represent non-marketable equity securities. The investment is included within long-term investments on the consolidated balance sheets with a carrying value of $ 10,747 and $ 0 as of December 31, 2022 and December 31, 2021. As of December 31, 2022, we own 766 shares of the Series C Preferred Stock of Nuro, Inc. (“Nuro”). Our investment represents a minority interest and we have determined that we do not have significant influence over Nuro. Nuro is a privately held company, and as such, the preferred shares comprising our investment are illiquid and fair value is not readily determinable. As of December 31, 2022, we have recognized a cumulative gain of $ 5,968 related to our investment in Nuro due to observable transactions in prior periods. The investment is included within long-term investments on the consolidated balance sheets with a carrying value of $ 15,968 as of December 31, 2022 and December 31, 2021. As of December 31, 2022, we held additional investments in other entities through the Cultivate Next Fund. We do not have significant influence over these entities. These additional investments are included within long-term investments on the consolidated balance sheets with a carrying value of $ 6,140 and $ 0 as of December 31, 2022 and December 31, 2021.

Income Taxes

Income Taxes	12 Months Ended
Income Taxes	Dec. 31, 2022
Income Taxes [Abstract]
Income Taxes	6. Income Taxes Income before income taxes, classified by source of income, was as follows: Year ended December 31, 2022 2021 2020 Domestic $ 1,192,004 $ 818,057 $ 311,021 Foreign ( 10,473 ) ( 5,294 ) ( 17,240 ) Income before income taxes $ 1,181,531 $ 812,763 $ 293,781 The components of the benefit/(provision) for income taxes were as follows: Year ended December 31, 2022 2021 2020 Current tax: U.S. Federal $ ( 246,210 ) $ ( 156,447 ) $ 204,063 U.S. State ( 79,041 ) ( 15,351 ) ( 32,684 ) Foreign ( 374 ) ( 338 ) ( 1,044 ) ( 325,625 ) ( 172,136 ) 170,335 Deferred tax: U.S. Federal 23,502 33,004 ( 120,066 ) U.S. State 19,940 ( 20,404 ) 11,507 Foreign ( 3,771 ) 7,229 7,158 39,671 19,829 ( 101,401 ) Valuation allowance 3,524 ( 7,472 ) ( 6,949 ) Benefit/(provision) for income taxes $ ( 282,430 ) $ ( 159,779 ) $ 61,985 The effective tax rate differs from the statutory tax rates as follows: Year ended December 31, 2022 2021 2020 Statutory U.S. federal income tax rate 21.0 % 21.0 % 21.0 % State income tax, net of related federal income tax benefit 3.8 3.5 4.2 Federal tax credits ( 1.0 ) ( 1.6 ) ( 3.5 ) Executive compensation disallowed 0.8 2.9 2.9 Meals and entertainment - - 0.1 Enhanced deduction for food donation - - ( 0.1 ) Valuation allowance 0.2 0.3 1.6 Uncertain tax position reserves 0.3 - - Other 0.6 - 1.8 Return to provision and other discrete items ( 0.1 ) 0.1 2.1 Equity compensation related adjustments ( 1.7 ) ( 4.7 ) ( 13.5 ) Federal net operating loss - ( 1.8 ) ( 37.7 ) Effective income tax rate 23.9 % 19.7 % ( 21.1 ) % The effective tax rate for the year ended December 31, 2022, was higher than the effective tax rate for the year ended December 31, 2021, primarily due to a decrease in excess tax benefits related to option exercises and equity vesting, fewer benefits generated from a federal net operating loss (“NOL”) and a net increase in uncertain tax position reserves. The components of the deferred income tax assets and liabilities for continuing operations were as follows: December 31, 2022 2021 Deferred income tax liability: Leasehold improvements, property and equipment, net $ 263,444 $ 279,586 Goodwill and other assets 1,754 1,728 Prepaid assets and other ( 4,685 ) 106 Operating lease assets 901,058 851,324 Total deferred income tax liability 1,161,571 1,132,744 Deferred income tax asset: Gift card liability 15,893 9,699 Capitalized transaction costs 323 324 Stock-based compensation and other employee benefits 45,129 45,261 Foreign net operating loss carry-forwards 24,799 27,446 State credits 3,151 3,595 Operating lease liabilities 962,815 909,528 Allowances, reserves and other 15,688 24,179 Capitalized research costs 17,415 - State net operating loss carry-forwards 4,832 1,568 Valuation allowance ( 27,097 ) ( 30,621 ) Total deferred income tax asset 1,062,948 990,979 Deferred income tax liabilities $ 98,623 $ 141,765 Gross foreign NOLs were $ 114,727 and $ 108,324 for the year ended December 31, 2022 and 2021, respectively. Our foreign NOLs can be carried forward indefinitely. Gross state NOLs available across all jurisdictions in which we operate were $ 73,327 and $ 50,467 as of December 31, 2022 and 2021, respectively. Our state NOLs expire over varying intervals in the future. We had gross valuation allowances against certain foreign deferred tax assets of $ 124,609 and $ 119,741 as of December 31, 2022 and 2021, respectively. The decrease in the valuation allowance was primarily due to immaterial tax rate changes on various foreign tax attributes. Unrecognized Tax Benefits A reconciliation of the unrecognized tax benefits was as follows: Year ended December 31, 2022 2021 2020 Beginning of year $ 5,262 $ 10,859 $ 15,028 Increase/(Decrease) resulting from prior year tax position 3,937 ( 151 ) ( 2,853 ) Increase resulting from current year tax position 312 1,387 1,870 Settlements with taxing authorities - - - Lapsing of statutes of limitations ( 609 ) ( 6,833 ) ( 3,186 ) End of year $ 8,902 $ 5,262 $ 10,859 Interest expense related to uncertain tax positions is recognized in interest and other income, net on the consolidated statements of income and comprehensive income. Penalties related to uncertain tax positions are recognized in benefit/(provision) for income taxes on the consolidated statements of income and comprehensive income. For the years ended December 31, 2022, 2021 and 2020, we recognized $ 384 , $ 180 and $ 554 , respectively, in interest expense related to uncertain tax positions. These are gross amounts before any tax benefits and are included in other liabilities on the consolidated balance sheets. As of December 31, 2022 and 2021, we have accrued interest of $ 589 and $ 356 , respectively. The Internal Revenue Service (“IRS”) commenced an examination of our U.S. income tax returns for the tax year ended December 31, 2020 in the fourth quarter of 2022 that is anticipated to be completed within 18 months. As of December 31, 2022, the IRS has not proposed any adjustments to our tax positions. Our tax returns are currently under audit by the State of Pennsylvania for the tax years ended December 31, 2019, December 31, 2020 and December 31, 2021. As of December 31, 2022, the State of Pennsylvania has not proposed any adjustments to our tax positions. For the majority of states where we have a significant presence, we are no longer subject to tax examinations by tax authorities for tax years before 2018. Currently, we expect expirations of statutes of limitations, excluding indemnified amounts, on reserves of approximately $ 573 within the next twelve months. It is reasonably possible the amount of the unrecognized benefit with respect to certain unrecognized positions could significantly increase or decrease within the next twelve months and would have an impact on net income. Inflation Reduction Act of 2022 On August 16, 2022, President Biden signed into law the Inflation Reduction Act of 2022, which includes a 15% minimum tax on the adjusted financial statement income of corporations with a three taxable year average annual adjusted financial statement income in excess of $1 billion, a 1% excise tax on net stock repurchases made by publicly traded US corporations and several tax incentives to promote clean energy. The alternative minimum tax and the excise tax are effective in taxable years beginning after December 31, 2022. While these tax law changes have no immediate effect and are not expected to have a material adverse effect on our results of operations going forward, we will continue to evaluate its impact as further information becomes availabl e .

Shareholders' Equity

Shareholders' Equity	12 Months Ended
Shareholders' Equity	Dec. 31, 2022
Shareholders’ Equity [Abstract]
Shareholders' Equity	7. Shareholders’ Equity We have had a stock repurchase program in place since 2008. As of December 31, 2022, we had $ 413,947 authorized for repurchasing shares of our common stock, which includes the $ 200,000 additional authorization approved by our Board of Directors on December 7, 2022. Shares we repurchased are being held in treasury stock until they are reissued or retired at the discretion of our Board of Directors. During the years ended December 31, 2022, 2021, and 2020, shares of common stock at a total cost of $ 98,970 , $ 79,870 , and $ 48,555 , respectively, were netted and surrendered as payment for minimum statutory withholding obligations in connection with the vesting of outstanding stock awards. Shares surrendered by the participants in accordance with the applicable award agreements and plan are deemed repurchased by us but are not part of publicly announced share repurchase programs .

Stock-Based Compensation and Em

Stock-Based Compensation and Employee Benefit Plans	12 Months Ended
Stock-Based Compensation and Employee Benefit Plans	Dec. 31, 2022
Stock-Based Compensation and Employee Benefit Plans [Abstract]
Stock-Based Compensation And Employee Benefit Plans	8. Sto ck-Based Compensation and Employee Benefit Plans Pursuant to the 2022 and 2011 Stock Incentive Plans, we grant stock options, SOSARs, restricted stock units (“RSUs”), or performance and/or market based restricted stock units (“PSUs”) to employees and non-employee directors. We issue shares of common stock upon the exercise of SOSARs and the vesting of RSUs and PSUs. Under both plans, f or purposes of calculating the available shares remaining, each share issuable pursuant to outstanding full value awards, such as RSUs and PSUs, counts as two shares, and each share underlying a stock option or SOSAR count as one share. We also have an employee stock purchase plan (“ESPP”), Defined Contribution Plan, and a Deferred Compensation Plan. Stock-Based Compensation Under the 2011 Stock Incentive Plan, 6,830 shares of common stock were authorized and reserved for issuance to eligible participants. As of December 31, 2021 there were 2,141 shares of common stock that remained available for future issuances under this plan. On March 23, 2022, the Board approved the 2022 Stock Incentive Plan, which was then approved by the shareholders on May 18, 2022. Once the shareholders approved the 2022 Stock Incentive plan, the remaining shares available for issuance under the 2011 Stock Incentive plan were terminated. The numbers of shares authorized for issuance under the 2022 Stock Incentive Plan will not exceed 2,431 . There were 2,318 shares that were authorized for issuance but not issued or subject to outstanding awards as of December 31, 2022. The following table sets forth total stock-based compensation expense: Year ended December 31, 2022 2021 2020 Stock-based compensation $ 99,821 $ 178,703 $ 84,463 Stock-based compensation, net of income taxes $ 84,928 $ 159,972 $ 69,904 Total capitalized stock-based compensation included in leasehold improvements, property and equipment, net on the consolidated balance sheets $ 1,791 $ 2,311 $ 1,837 Excess tax benefit on stock-based compensation recognized in benefit/(provision) for income taxes on the consolidated statements of income and comprehensive income $ 24,689 $ 47,958 $ 49,690 SOSARs A summary of SOSAR activity was as follows (in thousands, except years and per share data): Shares Weighted-Average Exercise Price per Share Weighted-Average Remaining Contractual Life (Years) Aggregate Intrinsic Value Outstanding, January 1, 2022 364 $ 838.62 $ 331,352 Granted 98 1,556.14 Exercised ( 84 ) 626.94 Forfeited or cancelled ( 23 ) 1,361.84 Outstanding, December 31, 2022 355 1,053.84 4.4 142,916 Exercisable, December 31, 2022 149 593.52 3.0 118,514 Vested and expected to vest, December 31, 2022 344 1,038.25 4.3 142,743 The total intrinsic value of SOSARs exercised during the years ended December 31, 2022, 2021, and 2020, was $ 77,124 , $ 498,399 , and $ 236,573 , respectively. Unrecognized stock-based compensation expense for SOSARs as of December 31, 2022 was $ 29,474 and is expected to be recognized over a weighted average period of 1.6 years. SOSARs expire 7 years after the day they were granted. The weighted average assumptions utilized in the Black-Scholes option-pricing model to estimate the fair value of SOSARs granted each year were as follows: 2022 2021 2020 Risk-free interest rate 2.1 % 0.3 % 1.3 % Expected life (years) 3.6 3.7 3.8 Expected dividend yield 0.0 % 0.0 % 0.0 % Volatility 36.0 % 35.2 % 32.4 % Weighted-average Black-Scholes fair value per share at date of grant $ 456.44 $ 403.01 $ 231.52 The risk-free interest rate is based on U.S. Treasury rates for instruments with similar terms, and the expected life assumption is based on our historical data. We have not paid dividends to date and do not plan to pay dividends in the near future. The volatility assumption is based on our historical data and implied volatility. Non-Vested Stock Awards (RSUs) A summary of RSU award activity was as follows (in thousands, except per share data): Shares Weighted-Average Grant Date Fair Value per Share Outstanding, January 1, 2022 58 $ 1,064.67 Granted 30 1,559.73 Vested ( 24 ) 798.11 Forfeited or cancelled ( 9 ) 1,369.09 Outstanding, December 31, 2022 55 1,396.78 Vested and expected to vest, December 31, 2022 50 1,382.72 The weighted average grant date fair value per RSU granted during the years ended December 31, 2021 and 2020, was $ 1,492.15 and $ 905.96 , respectively. Unrecognized stock-based compensation expense for non-vested RSU stock awards we have determined are probable of vesting was $ 26,881 as of December 31, 2022, and is expected to be recognized over a weighted average period of 1.5 years. The fair value of shares earned as of the vesting date during the years ended December 31, 2022, 2021, and 2020, was $ 33,959 , $ 73,540 , and $ 47,649 , respectively. Non-Vested Performance Stock Awards (PSUs) A summary of PSU award activity was as follows (in thousands, except per share data): Shares Weighted-Average Grant Date Fair Value per Share Outstanding, January 1, 2022 105 $ 928.28 Granted 24 1,569.39 Vested ( 54 ) 791.65 Expired ( 6 ) 1,117.45 Outstanding, December 31, 2022 69 1,194.80 Vested and expected to vest, December 31, 2022 116 1,097.75 The weighted average fair value per PSU granted during the years ended December 31, 2021 and 2020, was $ 1,479.55 and $ 853.03 , respectively. The unrecognized stock-based compensation expense for non-vested PSU stock awards we have determined are probable of vesting was $ 29,792 as of December 31, 2022, and is expected to be recognized over a weighted average period of 1.3 years. The fair value of shares earned as of the vesting date during the years ended December 31, 2022, 2021, and 2020, was $ 177,293 , $ 97,496 , and $ 60,081 , respectively. During the year ended December 31, 2022, we awarded performance share awards that are subject to service, market, and performance vesting conditions. The quantity of shares that will vest will range from 0 % to 300 % of the target number of shares based on performance factors related to restaurant cash flow dollars earned over a three-year period beginning on January 1, 2022. If the defined minimum targets are not met, then no shares will vest. Further, in no event may more than 100 % of the target number of PSUs vest if our 3 -year total shareholder return is below the 25 th percentile of the constituent companies comprising the S&P 500 on the day of the grant. During the year ended December 31, 2021, we awarded performance share awards that are subject to service, market, and performance vesting conditions. The quantity of shares that will vest will range from 0 % to 300 % of the target number of shares based on performance factors related to our growth in comparable restaurant sales and average restaurant margin over a three-year period beginning on January 1, 2021. If the defined minimum targets are not met, then no shares will vest. Further, in no event may more than 100 % of the target number of PSUs vest if our 3-year total shareholder return is below the 25 th percentile of the constituent companies comprising the S&P 500 on the day of the grant. During the year ended December 31, 2020, we awarded performance share awards that are subject to service, market, and performance vesting conditions. The quantity of shares that will vest will range from 0 % to 300 % of the target number of shares based on performance factors related to our growth in comparable restaurant sales and average restaurant margin over a three-year period beginning on January 1, 2020. If the defined minimum targets are not met, then no shares will vest. Further, in no event may more than 100 % of the target number of PSUs vest if our 3-year total shareholder return is below the 25 th percentile of the constituent companies comprising the S&P 500 on the day of the grant. The information contained in this paragraph describing the modification of the 2018 Performance Share Awards is included in the PSU table above. On December 30, 2020, due to the impact that the COVID-19 pandemic had on the growth in comparable restaurant sales and restaurant margin relative to the trajectory of both of these performance factors prior to the pandemic, and also due to the significant shareholder value created over the performance period of the original award, the Compensation Committee of the Board of Directors modified the 2018 PSU award. This modification pertained to all seven recipients of this award, and resulted in incremental compensation expense of $ 71,441 , of which $ 7,255 was recognized during the year ended December 31, 2022, and $ 0 remains unamortized as of December 31, 2022. The incremental compensation cost is calculated by multiplying the number of incremental shares generated though the modification by the stock price on the modification date. The stock price on the modification date of December 30, 2020 was $ 1,374.17 . To receive all incremental shares generated through the modification, the employees had to remain employed through December 31, 2022, and the incremental shares vested in four installments over this period. The first two installments of the modification vested during 2021, which included the vesting of 33 PSUs, and the second two installments of the modification vested during 2022, which included the vesting of 16 PSUs. One employee terminated employment during July 2022, which resulted in the forfeiture of 1 PSU. On July 27, 2022, we modified certain equity awards of an employee in connection with a separation agreement to allow short-term extension of vesting of these certain equity awards that would have otherwise vested within eight months of the separation date. This modification impacted one individual and resulted in incremental compensation expense of $ 6,701 , which was recognized in July 2022. ESPP On May 18, 2022, the shareholders of Chipotle approved a new employee stock purchase plan, or “2022 ESPP”, to replace the prior ESPP which expired in early 2022. A total of 250 shares are authorized for issuance under the 2022 ESPP. Similar to the previous ESPP, the 2022 ESPP contains eligibility requirements of one year of service with Chipotle and a maximum contribution of 15 % of an employee’s earnings, subject to an annual maximum dollar amount. However, under the previous ESPP the offering period was monthly and the purchase price for our common stock was 95 % of the fair market value on the last trading day of the offering period, while the 2022 ESPP offering period is quarterly and the purchase price for our common stock is 92.5 % of the lower of the fair market value on the first and last trading days of each offering period. During the years ended December 31, 2022, 2021, and 2020, the number of shares issued each year under the ESPP were less than one . There were 249 shares available for issuance under the ESPP as of December 31, 2022. Employee Benefit Plans Defined Contribution Plan We maintain the Chipotle Mexican Grill 401(k) Plan (“401(k) Plan”) for eligible U.S.-based employees. The 401(k) Plan allows participants to make cash contributions from payroll deductions. Employees become eligible to receive matching contributions after one year , and at least 1,000 hours, of service with Chipotle. We match 100 % of the first 3 % of pay contributed by each eligible employee and 50 % on the next 2 % of pay contributed each pay period (with an annual true-up) through cash contributions. For the years ended December 31, 2022, 2021, and 2020, matching contributions totaled approximately $ 12,923 , $ 10,527 and $ 8,490 , respectively and are included in general and administrative expenses on the consolidated statements of income and comprehensive income . Certain subsidiaries outside the U.S. also offer other similar benefits and are immaterial to the consolidated statements of income and comprehensive income . Deferred Compensation Plan We also maintain the Chipotle Mexican Grill, Inc. Supplemental Deferred Investment Plan (the “Deferred Plan”) for eligible employees. The Deferred Plan is a non-qualified plan that allows participants to make tax-deferred contributions that cannot be made under the 401(k) Plan because of Internal Revenue Service limitations. Participants’ earnings on contributions made to the Deferred Plan fluctuate with the actual earnings and losses of a variety of available investment choices selected by the participant. Total obligations under the Deferred Plan as of December 31, 2022 and 2021, were $ 21,140 and $ 19,330 , respectively, and are included in other liabilities on the consolidated balance sheets and was fully funded as of December 31, 2021. We match 100 % of the first 3 % of pay contributed by each eligible employee and 50 % on the next 2 % of pay contributed once the 401(k) contribution limits are reached. The following table summarizes estimated current and long-term material cash requirements for our deferred compensation plan as of December 31, 2022: Payments Due by Fiscal Year Total 2023 2024-2025 2026-2027 Thereafter Deferred compensation (1) $ 21,140 $ 4,153 $ 5,074 $ 4,665 $ 7,248 (1) Includes scheduled payments from our deferred compensation plan where payment dates are determinable for employed participants in accordance with the account’s election, and the assumption that active participants will retire at the age of 65 and begin distributions from their accounts at that time. This does not include future contributions, investment earnings, or future participants. Timing and amounts of payments may vary significantly .

Leases

Leases	12 Months Ended
Leases	Dec. 31, 2022
Leases [Abstract]
Leases	9. L eases The weighted average remaining lease term and discount rate were as follows: December 31, December 31, 2022 2021 Weighted average remaining lease term (years) 13.8 13.8 Weighted average discount rate 4.77 % 4.56 % The components of lease cost were as follows: Year ended December 31, Classification 2022 2021 2020 Operating lease cost Occupancy, Other operating costs, General and administrative expenses and Pre-opening costs $ 397,112 $ 364,314 $ 333,878 Short-term lease cost Other operating costs 633 256 36 Variable lease cost Occupancy, Other operating costs, General and administrative expenses and Pre-opening costs 102,636 92,145 37,860 Sublease income General and administrative expenses ( 5,444 ) ( 4,930 ) ( 3,588 ) Total lease cost $ 494,937 $ 451,785 $ 368,186 Supplemental disclosures of cash flow information related to leases were as follows: Year ended December 31, 2022 2021 2020 Cash paid for operating lease liabilities $ 386,238 $ 359,391 $ 316,249 Operating lease assets obtained in exchange for operating lease liabilities $ 425,243 $ 577,273 $ 484,888 Derecognition of operating lease assets due to terminations or impairment $ 14,718 $ 5,765 $ 20,242 Maturities of lease liabilities were as follows as of December 31, 2022: Operating Leases 2023 $ 375,174 2024 404,139 2025 396,777 2026 389,276 2027 382,790 Thereafter 3,212,975 Total lease payments 5,161,131 Less: imputed interest 1,429,721 Operating lease liabilities (Current and Long-Term) $ 3,731,410 As of December 31, 2022, the total lease payments include $ 2,401,022 related to options to extend lease terms that are reasonably certain of being exercised, and exclude approximately $ 445,913 of legally binding lease payments for leases signed but not yet commenced and $ 16,994 of future sublease income. We have six sale and leaseback transactions, which do not qualify for sale leaseback accounting due to fixed price renewal options prohibiting sale accounting. These transactions are accounted for under the financing method. Under the financing method, the assets remain on the consolidated balance sheets and the proceeds from the transactions are recorded as a financing liability. A portion of lease payments are applied as payments of deemed principal and imputed interest. The deemed landlord financing liability was $ 1,158 and $ 1,515 as of December 31, 2022, and 2021, respectively, with the current portion of the liability included in accrued liabilities, and the remaining portion included in other liabilities on the consolidated balance sheets .

Earnings Per Share

Earnings Per Share	12 Months Ended
Earnings Per Share	Dec. 31, 2022
Earnings Per Share [Abstract]
Earnings Per Share	10. Earnings Per Share The following table sets forth the computations of basic and diluted earnings per share: Year ended December 31, 2022 2021 2020 Net income $ 899,101 $ 652,984 $ 355,766 Shares: Weighted-average number of common shares outstanding (for basic calculation) 27,851 28,132 27,917 Dilutive stock awards 211 379 499 Weighted-average number of common shares outstanding (for diluted calculation) 28,062 28,511 28,416 Basic earnings per share $ 32.28 $ 23.21 $ 12.74 Diluted earnings per share $ 32.04 $ 22.90 $ 12.52 The following stock awards were excluded from the calculation of diluted earnings per share: Year ended December 31, 2022 2021 2020 Stock awards subject to performance conditions 54 66 87 Stock awards that were antidilutive 163 34 57 Total stock awards excluded from diluted earnings per share 217 100 144

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
Commitments and Contingencies	Dec. 31, 2022
Commitments and Contingencies [Abstract]
Commitments and Contingencies	11. Commitments and Contingencies Purchase Obligations We enter into various purchase obligations in the ordinary course of business, generally of a short-term nature. Those that are binding primarily relate to commitments for food purchases and supplies, amounts owed under contractor and subcontractor agreements, orders submitted for equipment for restaurants under construction, and marketing initiatives and corporate sponsorships. Litigation New York Legal Proceedings As reported in our previous SEC filings, on September 10, 2019, the New York City Department of Consumer and Worker Protection (“DCWP”) filed a complaint in the City of New York Office of Administrative Trials and Hearings alleging violations at five Chipotle restaurants of New York City’s Fair Work Week law (“FWW”) and Earned Safe and Sick Time Act (“ESTA”) between November 2017 and September 2019. On April 28, 2021, DCWP amended the complaint to cover purported violations of FWW and ESTA at substantially all Chipotle restaurants in New York City, through the date the amended complaint was filed. In August 2022, Chipotle signed an agreement with New York City to resolve the proceedings and related audits. Under the settlement agreement, Chipotle paid a $ 1.0 million civil penalty to New York City and will pay up to approximately $ 20 million in compensation to individuals who were hourly employees of Chipotle restaurants covered by the settlement agreement during the relevant time period. We have accrued a liability that represents the total estimated amount we expect to pay under the settlement agreement, and we do not expect any additional losses above the amount accrued to be material to our consolidated financial statements. Other We are involved in various claims and legal actions, such as wage and hour, wrongful termination and other employment-related claims, slip and fall and other personal injury claims, advertising and consumer claims, and lease, construction and other commercial disputes, that arise in the ordinary course of business, some of which may be covered by insurance. The outcomes of these actions are not predictable, but we do not believe that the ultimate resolution of these actions will have a material adverse effect on our financial position, results of operations, liquidity, or capital resources. However, if there is a significant increase in the number of these claims, or if we incur greater liabilities than we currently anticipate under one or more claims, it could materially and adversely affect our business, financial condition, results of operations and cash flows. Accrual for Estimated Liability In relation to various legal matters as of December 31, 2022, we had an accrued legal liability balance of $ 15,227 included within accrued liabilities on the consolidated balance sheet. Included in this amount is the accrued loss for the DCWP legal matter discussed above.

Debt

Debt	12 Months Ended
Debt	Dec. 31, 2022
Debt [Abstract]
Debt	12. Debt As of December 31, 2022, we had a $ 500,000 revolving credit facility with JPMorgan Chase Bank (“JPMorgan”) as administrative agent. Borrowings on the credit facility bear interest at a rate equal to LIBOR plus 1.375 %, which is subject to increase due to changes in our total leverage ratio as defined in the credit agreement. We are also obligated to pay a commitment fee of 0.175 % per year for unused amounts under the credit facility, which also may increase due to changes in our total leverage ratio. Further, we are subject to certain covenants defined in the credit agreement, which include maintaining a total leverage ratio of less than 3.0 x, maintaining a consolidated fixed charge coverage ratio of greater than 1.5 x, and limiting us from incurring additional indebtedness in certain circumstances. We had no outstanding borrowings under the credit facility and were in compliance with all covenants as of December 31, 2022 and December 31, 2021. On February 1, 2023, we amended our revolving credit facility to replace the reference rate for borrowings from LIBOR to the Secured Overnight Financing Rate (“SOFR”) plus a credit spread adjustment of 0.10 %, in anticipation of the market transition noted under Recently Issued Accounting Standards. No borrowings were outstanding as of the date of the amendment.

Related Party Transactions

Related Party Transactions	12 Months Ended
Related Party Transactions	Dec. 31, 2022
Related Party Transactions [Abstract]
Related Party Transactions	13. Related Party Transactions As of December 31, 2022, we owned approximately 10.3 % of the common stock outstanding of Tractor. As we are a significant customer of Tractor and maintain board representation, we are accounting for our investment under the equity method. Accordingly, we have identified Tractor as a related party. We purchase product from the supplier for sale to customers in our restaurants. During the years ended December 31, 2022, 2021 and 2020, purchases from the supplier were $ 37,015 , $ 29,400 , and $ 11,931 respectively .

Description of Business and S_2

Description of Business and Summary of Significant Accounting Policies (Policy)	12 Months Ended
	Dec. 31, 2022
Description of Business and Summary of Significant Accounting Policies [Abstract]
Principles of Consolidation and Basis of Presentation	Principles of Consolidation and Basis of Presentation Our consolidated financial statements include our accounts, our wholly and majority owned subsidiaries and investees we control after elimination of all intercompany accounts and transactions. Certain prior-year amounts have been reclassified to conform to the current year presentation.
Management Estimates	Management Estimates The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities as of the date of the financial statements, as well as the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates under different assumptions or conditions.
Cash and Cash Equivalents	Cash and Cash Equivalents We consider highly liquid investment instruments purchased with an initial maturity of three months or less to be cash equivalents. Amounts receivable from credit card companies are also considered cash equivalents as they are both short term and highly liquid in nature. We maintain cash and cash equivalent balances that exceed federally-insured limits with a number of financial institutions.
Restricted Cash	Restricted Cash We maintain certain cash balances restricted as to withdrawal or use. Restricted cash assets are primarily insurance-related restricted trust assets.
Accounts Receivable	Accounts Receivable Accounts receivable primarily consists of receivables from third party gift card distributors, delivery partners, insurance liabilities covered by third-party insurance carriers and vendor rebates.
Allowance for Credit Losses	Allowance for Credit Losses We closely monitor accounts receivable and held to maturity investment balances and estimate the allowance for credit losses when lifetime credit losses are expected by management. Our estimate is based on historical collection experience, external market data and other factors, including those related to current market conditions and events. We do not recognize a reserve for expected credit losses related to our U.S. Treasury security investments as management has concluded there is no risk of non-payment. As of December 31, 2022 and 2021, our allowance for credit losses was $ 1,180 and $ 1,950 , respectively.
Inventory	Inventory Inventory , consisting principally of food, beverages, and supplies, is valued at the lower of first-in, first-out cost or net realizable value.
Equity Method Investments	Equity Method Investments Investments are accounted for under the equity method if we are able to exercise significant influence, but not control, over an investee. Our share of the earnings or losses as reported by the investees is classified as income from equity investees on our consolidated statements of income and comprehensive income. The investments are evaluated for impairment annually and when facts and circumstances indicate that the carrying value may not be recoverable. If a decline in fair value is determined to be other-than-temporary, an impairment charge is recorded in interest income and other income, net on our consolidated statements of income and comprehensive income.
Investments	Investments Investments classified as trading securities are carried at fair value with any unrealized gain or loss being recorded in the consolidated statements of income and comprehensive income. Investments classified as available-for-sale are carried at fair value with unrealized gains and losses, net of tax, included as a component of other comprehensive income (loss), net of income taxes on the consolidated statements of income and comprehensive income. Held-to-maturity securities are carried at amortized cost. Non-marketable equity investments are measured at cost, less impairments, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or similar investment of the same issuer. Impairment charges on investments are recognized in interest and other income, net on the consolidated statements of income and comprehensive income when management believes the decline in the fair value of the investment is other-than-temporary.
Fair Value Measurements	Fair Value Measurements Fair value is the price we would receive to sell an asset or pay to transfer a liability (exit price) in an orderly transaction between market participants. For assets and liabilities recorded or disclosed at fair value, we determine fair value based on the following: Level 1: Quoted prices in active markets for identical assets or liabilities that the entity has the ability to access. Level 2: Observable inputs other than prices included in Level 1, such as quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; or other inputs that are observable or can be corroborated with observable market data. Level 3: Unobservable inputs for the asset or liability. This includes certain pricing models, discounted cash flow methodologies and similar techniques that use significant unobservable inputs.
Foreign Currency Translation	Foreign Currency Translation Our international operations use the local currency as the functional currency. Assets and liabilities are translated at exchange rates in effect as of the balance sheet date. Income and expense accounts are translated monthly using average monthly exchange rates. Resulting translation adjustments are recorded as a separate component of other comprehensive income (loss), net of income taxes on the consolidated statement of income and comprehensive income.
Leasehold Improvements, Property and Equipment	Leasehold Improvements, Property and Equipment Leasehold improvements, property and equipment are recorded at cost. Internal costs directly associated with the acquisition, development and construction of a restaurant are capitalized. During the years ended December 31, 2022, 2021 and 2020, we capitalized $ 12,695 , $ 10,870 , and $ 9,268 of internal costs, respectively. Expenditures for refurbishments and improvements that significantly add to the productivity capacity or extend the useful life are capitalized, while expenditures for maintenance and repairs are expensed as incurred. Depreciation is calculated using the straight-line method over the estimated useful lives of the assets. Leasehold improvements are amortized over the shorter of the lease term, which generally includes option periods that are reasonably certain, or the estimated useful lives of the assets. Upon retirement or disposal of assets, the accounts are relieved of cost and accumulated depreciation and any related gain or loss is reflected in impairment, closure costs, and asset disposals in the consolidated statements of income and comprehensive income . Assets to be disposed of are reported at the lower of their carrying amount or fair value less estimated costs to sell. At least annually, or when impairment indicators are present, we evaluate, and adjust when necessary, the estimated useful lives of leasehold improvements, property and equipment. The changes in estimated useful lives did not have a material impact on depreciation in any period. The estimated useful lives are: Leasehold improvements and buildings 3 - 20 years Furniture and fixtures 4 - 7 years Equipment 3 - 10 years
Leases	Leases The majority of our operating leases consist of restaurant locations and office space. We determine if a contract contains a lease at inception. Our leases generally have remaining terms of 1 - 20 years and most include options to extend the leases for additional 5 -year periods. Generally, the lease term is the minimum of the noncancelable period of the lease or the lease term inclusive of reasonably certain renewal periods up to a term of 20 years. We recognize an operating lease asset and operating lease liability for each lease with a contractual term greater than 12 months at the time of lease inception. We do not record leases with an initial term of 12 months or less on our consolidated balance sheet but continue to record rent expense on a straight-line basis over the lease term. Operating lease assets and liabilities are recognized at the lease commencement date, which is the date we control the use of the property. Operating lease liabilities represent the present value of lease payments not yet paid. We made the policy election to combine lease and non-lease components. We consider fixed CAM part of our fixed future lease payments; therefore, fixed CAM is also included in our lease liability. To determine the present value of lease payments not yet paid, we estimate incremental borrowing rates corresponding to the lease term including reasonably certain renewal periods. As we have no outstanding debt nor committed credit facilities, secured or otherwise, we estimate this rate based on prevailing financial market conditions, comparable company and credit analysis, and management judgment. Total lease costs recorded primarily as occupancy costs include fixed operating lease costs, variable lease costs and short-term lease costs. Most of our real estate leases require we pay certain expenses, such as CAM costs, real estate taxes and insurance, of which the fixed portion is included in operating lease costs. We recognize operating lease costs on a straight-line basis over the lease term. In addition to the above costs, variable lease costs also include amounts based on a percentage of gross sales in excess of specified levels and are recognized when probable and are not included in determining the present value of our operating lease liability. Operating lease assets represent our right to use an underlying asset and are based upon the operating lease liabilities adjusted for prepayments, initial direct costs, lease incentives, and impairment of operating lease assets. For operating leases, operating lease assets are reduced over the lease term by the recognized straight-line lease expense less the amount of accretion of the lease liability. Additionally, tenant incentives used to fund leasehold improvements are generally recognized when earned and reduce our right-of-use asset related to the lease. These are amortized through the operating lease asset as reductions of expense over the lease term. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants. We have not entered into any leases with related parties.
Goodwill	Goodwill Goodwill is not subject to amortization, but instead is tested for impairment annually in the fourth quarter, or more frequently when impairment indicators are present, and we are required to record any necessary impairment adjustments. Impairment is measured as the excess of the carrying value over the fair value of the goodwill. No impairment charges were recognized on goodwill for the years ended December 31, 2022, 2021, and 2020.
Other Assets	Other Assets Other assets consist primarily of a rabbi trust as described further in Note 4. “Fair Value of Financial Instruments,” software as a service implementation costs where the service period is greater than one year, an equity method investment described further in Note 5. “Equity Investments” and transferable liquor licenses.
Insurance Liability	Insurance Liability We are self-insured for a significant portion of our employee health benefits programs, and carry significant retentions for risks and associated liabilities with respect to workers’ compensation, general liability, property and auto damage, employment practices liability, cyber liability and directors’ and officers’ liability. Predetermined loss limits have been arranged with third party insurance companies to limit exposure to these claims. We record a liability that represents our estimated cost of claims incurred and unpaid as of the balance sheet date. Our estimated liability is not discounted and is based on a number of assumptions and factors, including historical trends, actuarial assumptions and economic conditions, and is closely monitored and adjusted when warranted by changing circumstances.
Reserves/Contingencies for Litigation and Other Matters	Reserves/Contingencies for Litigation and Other Matters We are involved in various claims and legal actions that arise in the ordinary course of business. We record an accrual for legal contingencies when we determine that it is probable that we have incurred a liability and we can reasonably estimate the amount of the loss.
Income Taxes	Income Taxes We compute income taxes using the asset and liability method, under which deferred income tax assets and liabilities are recognized based on the differences between the financial reporting bases and the respective tax bases of assets and liabilities. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which we expect the temporary differences to reverse. Any effects of changes in income tax rates or tax laws are included in the provision for income taxes in the period that includes the enactment date. We routinely assess the realizability of our deferred tax assets by jurisdiction and may record a valuation allowance if, based on all available positive and negative evidence, we determine that some portion of the deferred tax assets may not be realized prior to expiration. If we determine that we may be able to realize our deferred tax assets in the future in excess of their net recorded amount, we would make an adjustment to the deferred tax asset valuation allowance, which would reduce the provision for income taxes during the period in which the determination was made that the deferred tax asset can be realized. We evaluate our tax filing positions and recognize a tax benefit from an uncertain tax position only if it is more likely than not that based on its technical merits the tax position will be sustained upon examination by the relevant taxing authorities, including resolutions of any related appeals or litigation processes. The tax benefits recognized in the financial statements from such a position are measured based on the largest tax benefit that has a greater than 50 % likelihood of being realized upon settlement with a taxing authority. For uncertain tax positions that do not meet this threshold, we record a related tax reserve in the period in which it arises. We adjust our unrecognized tax benefit liability and provision for income taxes in the period in which the uncertain tax position is effectively settled, the statute of limitations expires for the relevant taxing authority to examine the tax position or when new information becomes available that requires a change in recognition and/or measurement of the liability. We recognize interest to be paid on an underpayment of income taxes in interest expense and any related statutory penalties in the provision for income taxes in our consolidated statements of income and comprehensive income . Accrued interest and penalties are included within the related tax reserve on our consolidated balance sheets.
Revenue Recognition	Revenue Recognition We generally recognize revenue, net of discounts and incentives, when payment is tendered at the point of sale. We report revenue net of sales-related taxes collected from customers and remitted to governmental taxing authorities. Food and beverage revenue primarily relates to the sale of food and beverages. Delivery service revenue is comprised of delivery and related service fees charged to customers on sales made through Chipotle’s app and website. Delivery We offer our customers delivery in almost all of our geographic regions. Delivery services are fulfilled by third-party service providers. In some cases, we make delivery sales through our website Chipotle.com or the Chipotle App (“White Label Sales”). In other cases, we make delivery sales through a non-Chipotle owned channel, such as the delivery partner’s website or mobile app (“Marketplace Sales”). With respect to White Label Sales, we control the delivery services and generally recognize revenue, including delivery fees, when the delivery partner transfers food to the customer. For these sales, we receive payment directly from the customer at the time of sale. With respect to Marketplace Sales, we generally recognize revenue, excluding delivery fees collected by the delivery partner, when control of the food is transferred to the delivery partner. We receive payment from the delivery partner subsequent to the transfer of food and the payment terms are short-term in nature. Gift Cards We sell gift cards, which do not have expiration dates and we do not deduct non-usage fees from outstanding gift card balances. Gift card balances are initially recorded as unearned revenue. We recognize revenue from gift cards when the gift card is redeemed by the customer. Historically, the majority of gift cards are redeemed within one year. In addition, a portion of gift cards are not expected to be redeemed and will be recognized as breakage over time in proportion to gift card redemptions (“gift card breakage rate”) . The gift card breakage rate is based on company and program specific information, including historical redemption patterns, and expected remittance to government agencies under unclaimed property laws, if applicable. We evaluate our gift card breakage rate estimate annually, or more frequently as circumstances warrant, and apply that rate to gift card redemptions. Gift card liability balances are typically highest at the end of each calendar year following increased gift card sales during the holiday season; accordingly, revenue recognized from gift card liability balances is highest in the first quarter of each calendar year. Chipotle Rewards We have a loyalty program called Chipotle Rewards. Eligible customers who enroll in the program generally earn points for every dollar spent. In June 2021, we enhanced Chipotle Rewards and introduced a new redemption feature we call the “Rewards Exchange” that provides loyalty members multiple redemption options. Previously, Chipotle Rewards points were automatically redeemed for a free entrée when the customer obtained the required number of points. The change in the Chipotle Rewards program did not have a material impact on our consolidated financial statements. We may also periodically offer promotions, which typically provide the customer with the opportunity to earn bonus points or other rewards. Earned rewards generally expire one month to two months after they are issued, and points generally expire if an account is inactive for a period of six months . We defer revenue associated with the estimated selling price of points or rewards earned by customers as each point or reward is earned, net of points or rewards we do not expect to be redeemed. The estimated selling price of each point or reward earned is based on the estimated value of the product for which the reward is expected to be redeemed. Our estimate of points and rewards we expect to be redeemed is based on historical and other company specific data. The costs associated with rewards redeemed are primarily included in food, beverage, and packaging on our consolidated statements of income and comprehensive income. We evaluate Chipotle Rewards point breakage annually, or more frequently as circumstances warrant. We completed our most recent breakage assessment as of October 31, 2022, which resulted in a reduction in revenue recognized of $ 6,070 during the three months ended December 31, 2022. The reduction in revenue recognized was primarily the result of a change in our ultimate redemption rate estimate as program data indicated a higher redemption trend than previously estimated. We recognize loyalty revenue within food and beverage revenue on the consolidated statements of income and comprehensive income when a customer redeems an earned reward. Deferred revenue associated with Chipotle Rewards is included in unearned revenue on our consolidated balance sheets.
Advertising, Marketing and Promotional Costs	Advertising, Marketing and Promotional Costs Advertising, marketing and promotional costs are expensed as incurred and totaled $ 250,673 , $ 222,091 and $ 222,820 for the years ended December 31, 2022, 2021 and 2020, respectively. Advertising, marketing and promotional costs include costs related to free food which a customer does not need to make a purchase to earn. These costs are included in other operating costs on the consolidated statements of income and comprehensive income .
Stock-Based Compensation	Stock-Based Compensation During 2022, we issued shares as part of employee compensation pursuant to the Amended and Restated Chipotle Mexican Grill, Inc. 2011 Stock Incentive Plan (the “2011 Incentive Plan”), which was replaced on May 18, 2022 by the Chipotle Mexican Grill, Inc. 2022 Stock Incentive Plan (the “2022 Incentive Plan”). SOSARs and stock awards generally vest equally over two and three years and expire after seven years . Stock-based compensation expense is generally recognized on a straight-line basis for each separate vesting portion. Compensation expense related to employees eligible to retire and retain full rights to the awards is recognized over 12 months which coincides with the service period required to earn the full award. We estimate forfeitures based on historical data when determining the amount of stock-based compensation costs to be recognized in each period. We have also granted stock awards with performance vesting conditions and/or market vesting conditions. Stock awards with performance or market vesting conditions generally vest based on our achievement versus stated targets or criteria over a three-year performance and service period. Compensation expense on stock awards subject to performance conditions, which is based on the quantity of awards we have determined are probable of vesting, is recognized over the longer of the estimated performance goal attainment period or time vesting period. Compensation expense is recognized ratably for awards subject to market conditions regardless of whether the market condition is satisfied, provided that the requisite service has been provided. Some stock-based compensation awards are made to employees involved in our new restaurant development activities, and expense for these awards is recognized as capitalized development and included in leasehold improvements, property and equipment, net, on the consolidated balance sheets.
Restaurant Pre-Opening Costs	Restaurant Pre-Opening Costs Pre-opening costs, including rent, wages, benefits and travel for training and opening teams, food and other restaurant operating costs, are expensed as incurred prior to a restaurant opening for business, and are included in operating expenses on the consolidated statements of income and comprehensive income .
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. For the purpose of reviewing restaurant assets to be held and used for potential impairment, assets are grouped together at the market level, or in the case of a potential relocation or closure, at the restaurant level. We manage our restaurants as a group with common costs and promotional activities; as such, an individual restaurant’s cash flows are not generally independent of the cash flows of others in a market. The fair value measurement for asset impairment is generally based on Level 3 inputs. See “Fair Value Measurements” above for a description of level inputs. We first compare the carrying value of the asset (or asset group, referred interchangeably throughout as asset) to the asset’s estimated future undiscounted cash flows. If the estimated undiscounted future cash flows are less than the carrying value of the asset, we determine if we have an impairment loss by comparing the carrying value of the asset to the asset's estimated fair value. The estimated fair value of the asset is generally determined using the income approach to measure the fair value, which is based on the present value of estimated future cash flows. Key inputs to the income approach for restaurant assets include the discount rate, projected restaurant revenues and expenses, and sublease income if we are closing the restaurant. In certain cases, management uses other market information, when available, to estimate the fair value of an asset. The impairment charges represent the excess of each asset’s carrying amount over its estimated fair value and are allocated among the long-lived asset or assets of the group.
Earnings per Share	Earnings per Share Basic earnings per share is calculated by dividing income available to common shareholders by the weighted-average number of shares of common stock outstanding during each period. Diluted earnings per share (“diluted EPS”) is calculated using income available to common shareholders divided by diluted weighted-average shares of common stock outstanding during each period. Potentially dilutive securities include shares of common stock underlying SOSARs and non-vested stock awards (collectively “stock awards”). Diluted EPS considers the impact of potentially dilutive securities except in periods in which there is a loss because the inclusion of the potential common shares would have an anti-dilutive effect. Stock awards are excluded from the calculation of diluted EPS in the event they are subject to performance conditions or are antidilutive.
Recently Issued Accounting Standards	Recently Issued Accounting Standards In March 2020, the FASB issued ASU No. 2020-04, “Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting.” The pronouncement provides temporary optional expedients and exceptions to the current guidance on contract modifications and hedge accounting to ease the financial reporting burden related to the expected market transition from the London Interbank Offered Rate ("LIBOR") and other interbank offered rates to alternative reference rates. The guidance was effective upon issuance and generally can be applied to applicable contract modifications through December 31, 2024 (the sunset date was extended from December 31, 2022 to December 31, 2024 by the issuance of ASU No. 2022-06 in December 2022). We are evaluating the impact of the transition from LIBOR to alternative reference rates but do not expect a significant impact to our consolidated financial statements. We reviewed all other recently issued accounting pronouncements and concluded that they were either not applicable or not expected to have a significant impact to the consolidated financial statements.

Description of Business and S_3

Description of Business and Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2022
Description of Business and Summary of Significant Accounting Policies [Abstract]
Estimated Useful Lives of Leasehold Improvements, Property and Equipment	Leasehold improvements and buildings 3 - 20 years Furniture and fixtures 4 - 7 years Equipment 3 - 10 years

Supplemental Balance Sheet In_2

Supplemental Balance Sheet Information (Tables)	12 Months Ended
Supplemental Balance Sheet Information (Tables)	Dec. 31, 2022
Supplemental Balance Sheet Information [Abstract]
Schedule of Leasehold Improvements, Property, and Equipment	December 31, 2022 2021 Land $ 12,943 $ 12,943 Leasehold improvements and buildings 2,317,277 2,094,227 Furniture and fixtures 242,166 222,774 Equipment 989,895 868,435 Construction in Progress 123,453 107,222 Leasehold improvements, property and equipment, gross 3,685,734 3,305,601 Accumulated depreciation ( 1,734,587 ) ( 1,536,323 ) Leasehold improvements, property and equipment, net $ 1,951,147 $ 1,769,278
Schedule of Accrued Payroll and Benefits	December 31, 2022 2021 Workers' compensation liability $ 27,531 $ 27,456 Accrued payroll and bonuses 109,190 107,799 Other accrued payroll and benefits 33,735 27,150 Accrued payroll and benefits $ 170,456 $ 162,405
Schedule of Accrued Liabilities	December 31, 2022 2021 Sales and use tax payable $ 35,567 $ 32,004 Legal reserve liability 15,227 48,098 Other accrued liabilities 96,745 92,950 Accrued liabilities $ 147,539 $ 173,052

Revenue Recognition (Tables)

Revenue Recognition (Tables)	12 Months Ended
Revenue Recognition (Tables)	Dec. 31, 2022
Revenue Recognition [Abstract]
Liability Included in Unearned Revenue	December 31, 2022 2021 Gift card liability $ 145,014 $ 130,779
Revenue Recognized from Liability Balances	Year ended December 31, 2022 2021 2020 Revenue recognized from gift card liability balance at the beginning of the year $ 59,175 $ 48,605 $ 39,612
Changes in Liability Balance	Year ended December 31, 2022 2021 2020 Chipotle Rewards liability, beginning balance $ 25,572 $ 22,337 $ 10,584 Revenue deferred 121,406 106,759 87,259 Revenue recognized ( 108,921 ) ( 103,524 ) ( 75,506 ) Chipotle Rewards liability, ending balance $ 38,057 $ 25,572 $ 22,337

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	12 Months Ended
Fair Value of Financial Instruments (Tables)	Dec. 31, 2022
Fair Value of Financial Instruments [Abstract]
Schedule of Cash, Cash Equivalents and Debt Investments by Significant Category	December 31, 2022 Adjusted cost Unrealized Gains Unrealized Losses Fair Value Cash and Cash Equivalents Current Investments Long-term Investments Cash $ 75,829 $ - $ - $ 75,829 $ 75,829 $ - $ - Level 1 (1) Money market funds 232,477 - - 232,477 232,477 - - Time deposits 75,694 - - 75,694 75,694 - - U.S. Treasury securities 847,354 63 14,355 833,062 - 515,136 332,218 Subtotal 1,155,525 63 14,355 1,141,233 308,171 515,136 332,218 Level 3 Corporate debt security (2) 17,900 - 700 17,200 - - 17,900 Note receivable (3) 4,860 222 - 5,082 - - 5,082 Subtotal 22,760 222 700 22,282 - - 22,982 Total $ 1,254,114 $ 285 $ 15,055 $ 1,239,344 $ 384,000 $ 515,136 $ 355,200 December 31, 2021 Adjusted cost Unrealized Gains Unrealized Losses Fair Value Cash and Cash Equivalents Current Investments Long-term Investments Cash $ 119,639 $ - $ - $ 119,639 $ 119,639 $ - $ - Level 1 (1) Money market funds 547,530 - - 547,530 547,530 - - Time deposits 148,205 - - 148,205 148,205 - - U.S. Treasury securities 501,288 - 1,116 500,172 - 260,945 240,343 Subtotal 1,197,023 - 1,116 1,195,907 695,735 260,945 240,343 Level 3 Corporate debt security (2) 18,000 - - 18,000 - - 18,000 Note receivable (3) - - - - - - - Subtotal 18,000 - - 18,000 - - 18,000 Total $ 1,334,662 $ - $ 1,116 $ 1,333,546 $ 815,374 $ 260,945 $ 258,343 (1) Level 1: Quoted prices in active markets for identical assets or liabilities that the entity has the ability to access. (2) The fair value of the corporate debt security is measured using Level 3 (unobservable) inputs. We determined the fair value for the corporate debt security using an internally-developed valuation model and unobservable inputs include credit and liquidity spreads and effective maturity . (3) We have elected to measure our investment in a convertible note receivable of a private company at fair value under the fair value option. The fair value of the note receivable is measured using Level 3 (unobservable) inputs. We determined the fair value for the note receivable using an internally-developed valuation model and unobservable inputs include estimates of the equity value of the underlying business and the timing and probability of future financing events.
Summary of Assets Measured at Fair Value on Nonrecurring Basis	December 31, Level 2022 2021 Leasehold improvements, property and equipment, net 3 $ 264 $ 1,041 Operating lease assets 3 713 2,791 Total $ 977 $ 3,832

Equity Investments (Tables)

Equity Investments (Tables)	12 Months Ended
Equity Investments (Tables)	Dec. 31, 2022
Equity Investments [Abstract]
Schedule of Equity Investments	December 31, 2022 2021 Equity method investments $ 11,697 $ 9,251 Other investments 32,855 15,968 Total $ 44,552 $ 25,219

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
Income Taxes (Tables)	Dec. 31, 2022
Income Taxes [Abstract]
Summary of Income	Year ended December 31, 2022 2021 2020 Domestic $ 1,192,004 $ 818,057 $ 311,021 Foreign ( 10,473 ) ( 5,294 ) ( 17,240 ) Income before income taxes $ 1,181,531 $ 812,763 $ 293,781
Schedule of Components of Benefit/(Provision) for Income Taxes	Year ended December 31, 2022 2021 2020 Current tax: U.S. Federal $ ( 246,210 ) $ ( 156,447 ) $ 204,063 U.S. State ( 79,041 ) ( 15,351 ) ( 32,684 ) Foreign ( 374 ) ( 338 ) ( 1,044 ) ( 325,625 ) ( 172,136 ) 170,335 Deferred tax: U.S. Federal 23,502 33,004 ( 120,066 ) U.S. State 19,940 ( 20,404 ) 11,507 Foreign ( 3,771 ) 7,229 7,158 39,671 19,829 ( 101,401 ) Valuation allowance 3,524 ( 7,472 ) ( 6,949 ) Benefit/(provision) for income taxes $ ( 282,430 ) $ ( 159,779 ) $ 61,985
Schedule of Effective Tax Rate	Year ended December 31, 2022 2021 2020 Statutory U.S. federal income tax rate 21.0 % 21.0 % 21.0 % State income tax, net of related federal income tax benefit 3.8 3.5 4.2 Federal tax credits ( 1.0 ) ( 1.6 ) ( 3.5 ) Executive compensation disallowed 0.8 2.9 2.9 Meals and entertainment - - 0.1 Enhanced deduction for food donation - - ( 0.1 ) Valuation allowance 0.2 0.3 1.6 Uncertain tax position reserves 0.3 - - Other 0.6 - 1.8 Return to provision and other discrete items ( 0.1 ) 0.1 2.1 Equity compensation related adjustments ( 1.7 ) ( 4.7 ) ( 13.5 ) Federal net operating loss - ( 1.8 ) ( 37.7 ) Effective income tax rate 23.9 % 19.7 % ( 21.1 ) %
Schedule of Deferred Income Tax Liabilities and Assets	December 31, 2022 2021 Deferred income tax liability: Leasehold improvements, property and equipment, net $ 263,444 $ 279,586 Goodwill and other assets 1,754 1,728 Prepaid assets and other ( 4,685 ) 106 Operating lease assets 901,058 851,324 Total deferred income tax liability 1,161,571 1,132,744 Deferred income tax asset: Gift card liability 15,893 9,699 Capitalized transaction costs 323 324 Stock-based compensation and other employee benefits 45,129 45,261 Foreign net operating loss carry-forwards 24,799 27,446 State credits 3,151 3,595 Operating lease liabilities 962,815 909,528 Allowances, reserves and other 15,688 24,179 Capitalized research costs 17,415 - State net operating loss carry-forwards 4,832 1,568 Valuation allowance ( 27,097 ) ( 30,621 ) Total deferred income tax asset 1,062,948 990,979 Deferred income tax liabilities $ 98,623 $ 141,765
Schedule of Unrecognized Tax Benefits	Year ended December 31, 2022 2021 2020 Beginning of year $ 5,262 $ 10,859 $ 15,028 Increase/(Decrease) resulting from prior year tax position 3,937 ( 151 ) ( 2,853 ) Increase resulting from current year tax position 312 1,387 1,870 Settlements with taxing authorities - - - Lapsing of statutes of limitations ( 609 ) ( 6,833 ) ( 3,186 ) End of year $ 8,902 $ 5,262 $ 10,859

Stock-Based Compensation and _2

Stock-Based Compensation and Employee Benefit Plans (Tables)	12 Months Ended
	Dec. 31, 2022
Summary of Stock-Based Compensation Expense	Year ended December 31, 2022 2021 2020 Stock-based compensation $ 99,821 $ 178,703 $ 84,463 Stock-based compensation, net of income taxes $ 84,928 $ 159,972 $ 69,904 Total capitalized stock-based compensation included in leasehold improvements, property and equipment, net on the consolidated balance sheets $ 1,791 $ 2,311 $ 1,837 Excess tax benefit on stock-based compensation recognized in benefit/(provision) for income taxes on the consolidated statements of income and comprehensive income $ 24,689 $ 47,958 $ 49,690
Summary of SOSAR Activity Under Incentive Plan	Shares Weighted-Average Exercise Price per Share Weighted-Average Remaining Contractual Life (Years) Aggregate Intrinsic Value Outstanding, January 1, 2022 364 $ 838.62 $ 331,352 Granted 98 1,556.14 Exercised ( 84 ) 626.94 Forfeited or cancelled ( 23 ) 1,361.84 Outstanding, December 31, 2022 355 1,053.84 4.4 142,916 Exercisable, December 31, 2022 149 593.52 3.0 118,514 Vested and expected to vest, December 31, 2022 344 1,038.25 4.3 142,743
Schedule of Assumptions for SOSAR	2022 2021 2020 Risk-free interest rate 2.1 % 0.3 % 1.3 % Expected life (years) 3.6 3.7 3.8 Expected dividend yield 0.0 % 0.0 % 0.0 % Volatility 36.0 % 35.2 % 32.4 % Weighted-average Black-Scholes fair value per share at date of grant $ 456.44 $ 403.01 $ 231.52
Summarization of Estimated Current and Long-Term Cash Requirements for Deferred Compensation	Payments Due by Fiscal Year Total 2023 2024-2025 2026-2027 Thereafter Deferred compensation (1) $ 21,140 $ 4,153 $ 5,074 $ 4,665 $ 7,248 (1) Includes scheduled payments from our deferred compensation plan where payment dates are determinable for employed participants in accordance with the account’s election, and the assumption that active participants will retire at the age of 65 and begin distributions from their accounts at that time. This does not include future contributions, investment earnings, or future participants. Timing and amounts of payments may vary significantly .
Restricted Stock Units (RSUs) [Member]
Summary of Stock Award Activity Under Incentive Plan	Shares Weighted-Average Grant Date Fair Value per Share Outstanding, January 1, 2022 58 $ 1,064.67 Granted 30 1,559.73 Vested ( 24 ) 798.11 Forfeited or cancelled ( 9 ) 1,369.09 Outstanding, December 31, 2022 55 1,396.78 Vested and expected to vest, December 31, 2022 50 1,382.72
Performance Stock Awards (PSUs) [Member]
Summary of Stock Award Activity Under Incentive Plan	Shares Weighted-Average Grant Date Fair Value per Share Outstanding, January 1, 2022 105 $ 928.28 Granted 24 1,569.39 Vested ( 54 ) 791.65 Expired ( 6 ) 1,117.45 Outstanding, December 31, 2022 69 1,194.80 Vested and expected to vest, December 31, 2022 116 1,097.75

Leases (Tables)

Leases (Tables)	12 Months Ended
Leases (Tables)	Dec. 31, 2022
Leases [Abstract]
Schedule of Supplemental Balance Sheet Information Related to Leases	December 31, December 31, 2022 2021 Weighted average remaining lease term (years) 13.8 13.8 Weighted average discount rate 4.77 % 4.56 %
Schedule of Lease Expense Components	Year ended December 31, Classification 2022 2021 2020 Operating lease cost Occupancy, Other operating costs, General and administrative expenses and Pre-opening costs $ 397,112 $ 364,314 $ 333,878 Short-term lease cost Other operating costs 633 256 36 Variable lease cost Occupancy, Other operating costs, General and administrative expenses and Pre-opening costs 102,636 92,145 37,860 Sublease income General and administrative expenses ( 5,444 ) ( 4,930 ) ( 3,588 ) Total lease cost $ 494,937 $ 451,785 $ 368,186
Schedule of Supplemental Cash Flow Related to Leases	Year ended December 31, 2022 2021 2020 Cash paid for operating lease liabilities $ 386,238 $ 359,391 $ 316,249 Operating lease assets obtained in exchange for operating lease liabilities $ 425,243 $ 577,273 $ 484,888 Derecognition of operating lease assets due to terminations or impairment $ 14,718 $ 5,765 $ 20,242
Schedule of Maturity of Lease Liabilities	Operating Leases 2023 $ 375,174 2024 404,139 2025 396,777 2026 389,276 2027 382,790 Thereafter 3,212,975 Total lease payments 5,161,131 Less: imputed interest 1,429,721 Operating lease liabilities (Current and Long-Term) $ 3,731,410

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
Earnings Per Share (Tables)	Dec. 31, 2022
Earnings Per Share [Abstract]
Basic and Diluted Earnings Per Share	Year ended December 31, 2022 2021 2020 Net income $ 899,101 $ 652,984 $ 355,766 Shares: Weighted-average number of common shares outstanding (for basic calculation) 27,851 28,132 27,917 Dilutive stock awards 211 379 499 Weighted-average number of common shares outstanding (for diluted calculation) 28,062 28,511 28,416 Basic earnings per share $ 32.28 $ 23.21 $ 12.74 Diluted earnings per share $ 32.04 $ 22.90 $ 12.52
Stock Awards Excluded from the Calculation of Diluted EPS	Year ended December 31, 2022 2021 2020 Stock awards subject to performance conditions 54 66 87 Stock awards that were antidilutive 163 34 57 Total stock awards excluded from diluted earnings per share 217 100 144

Description of Business and S_4

Description of Business and Summary of Significant Accounting Policies (Narrative) (Details)	3 Months Ended	12 Months Ended
	Dec. 31, 2022 USD ($) item	Dec. 31, 2022 USD ($) item segment region	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Description Of Business And Summary Of Significant Accounting Policies [Line Items]
Number of regions \| region		8
Number of reportable segments \| segment		1
Allowance for credit losses	$ 1,180,000	$ 1,180,000	$ 1,950,000
Acquisition, development and construction of restaurant capitalized costs		$ 12,695,000	10,870,000	$ 9,268,000
Option to extend, additional periods		5 years
Renewal period	20 years	20 years
Long-term debt	$ 0	$ 0
Goodwill impairment charges		$ 0	0	0
Earned points expiration period for inactivity		6 months
Advertising, marketing and promotional costs		$ 250,673,000	222,091,000	222,820,000
Compensation expense related to employees eligible to retire and retain full rights to the awards, recognition period		12 months
Minimum [Member]
Description Of Business And Summary Of Significant Accounting Policies [Line Items]
Remaining lease term	1 year	1 year
Tax benefit percentage for realization with a taxing authority		50%
Earned rewards expiration period		1 month
Maximum [Member]
Description Of Business And Summary Of Significant Accounting Policies [Line Items]
Remaining lease term	20 years	20 years
Earned rewards expiration period		2 months
Chipotle [Member]
Description Of Business And Summary Of Significant Accounting Policies [Line Items]
Number of restaurants \| item	3,187	3,187
Chipotle [Member] \| United States [Member]
Description Of Business And Summary Of Significant Accounting Policies [Line Items]
Number of restaurants \| item	3,129	3,129
Chipotle [Member] \| International [Member]
Description Of Business And Summary Of Significant Accounting Policies [Line Items]
Number of restaurants \| item	53	53
Pizzeria Locale [Member]
Description Of Business And Summary Of Significant Accounting Policies [Line Items]
Number of restaurants \| item	5	5
Chipotle Rewards [Member]
Description Of Business And Summary Of Significant Accounting Policies [Line Items]
Revenue recognized	$ 6,070,000	$ (108,921,000)	$ (103,524,000)	$ (75,506,000)
SOSARS [Member]
Description Of Business And Summary Of Significant Accounting Policies [Line Items]
Expiration period of SOSARs		7 years
Performance Shares [Member]
Description Of Business And Summary Of Significant Accounting Policies [Line Items]
Vesting period		3 years	3 years	3 years
Vesting Period 1 [Member] \| SOSARS [Member]
Description Of Business And Summary Of Significant Accounting Policies [Line Items]
Vesting period		2 years
Vesting Period 2 [Member] \| SOSARS [Member]
Description Of Business And Summary Of Significant Accounting Policies [Line Items]
Vesting period		3 years

Description of Business and S_5

Description of Business and Summary of Significant Accounting Policies (Estimated Useful Lives of Leasehold Improvements, Property And Equipment) (Details)	12 Months Ended
	Dec. 31, 2022
Leasehold Improvements and Buildings [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	3 years
Leasehold Improvements and Buildings [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	20 years
Furniture and Fixtures [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	4 years
Furniture and Fixtures [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	7 years
Equipment [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	3 years
Equipment [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	10 years

Supplemental Balance Sheet In_3

Supplemental Balance Sheet Information (Schedule of Leasehold Improvements, Property and Equipment) (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Leasehold improvements, property and equipment, gross	$ 3,685,734	$ 3,305,601
Accumulated depreciation	(1,734,587)	(1,536,323)
Leasehold improvements, property and equipment, net	1,951,147	1,769,278
Land [Member]
Property, Plant and Equipment [Line Items]
Leasehold improvements, property and equipment, gross	12,943	12,943
Leasehold Improvements and Buildings [Member]
Property, Plant and Equipment [Line Items]
Leasehold improvements, property and equipment, gross	2,317,277	2,094,227
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Leasehold improvements, property and equipment, gross	242,166	222,774
Equipment [Member]
Property, Plant and Equipment [Line Items]
Leasehold improvements, property and equipment, gross	989,895	868,435
Construction in Progress [Member]
Property, Plant and Equipment [Line Items]
Leasehold improvements, property and equipment, gross	$ 123,453	$ 107,222

Supplemental Balance Sheet In_4

Supplemental Balance Sheet Information (Schedule of Accrued Payroll and Benefits) (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Supplemental Balance Sheet Information [Abstract]
Workers' compensation liability	$ 27,531	$ 27,456
Accrued payroll and bonuses	109,190	107,799
Other accrued payroll and benefits	33,735	27,150
Accrued payroll and benefits	$ 170,456	$ 162,405

Supplemental Balance Sheet In_5

Supplemental Balance Sheet Information (Schedule of Accrued Liabilities) (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Supplemental Balance Sheet Information [Abstract]
Sales and use tax payable	$ 35,567	$ 32,004
Legal reserve liability	15,227	48,098
Other accrued liabilities	96,745	92,950
Accrued liabilities	$ 147,539	$ 173,052

Revenue Recognition (Liability

Revenue Recognition (Liability Included in Unearned Revenue) (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Gift Card [Member]
Liability in unearned revenue	$ 145,014	$ 130,779

Revenue Recognition (Revenue Re

Revenue Recognition (Revenue Recognized from Liability Balances) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Gift Card [Member]
Revenue recognized from gift card liability balance at the beginning of the year	$ 59,175	$ 48,605	$ 39,612

Revenue Recognition (Changes in

Revenue Recognition (Changes in Liability Balance) (Details) - Chipotle Rewards [Member] - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Chipotle Rewards liability, beginning balance		$ 25,572	$ 22,337	$ 10,584
Revenue deferred		121,406	106,759	87,259
Revenue recognized	$ 6,070	(108,921)	(103,524)	(75,506)
Chipotle Rewards liability, ending balance	$ 38,057	$ 38,057	$ 25,572	$ 22,337

Fair Value of Financial Instr_3

Fair Value of Financial Instruments (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Fair Value of Financial Instruments [Abstract]
Asset impairments	$ 2,387	$ 4,727	$ 16,683

Fair Value of Financial Instr_4

Fair Value of Financial Instruments (Schedule of Cash, Cash Equivalents and Debt Investments by Significant Category) (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	$ 384,000	$ 815,374
Total Adjusted Cost	1,254,114	1,334,662
Unrealized Gains	285
Unrealized Loss	15,055	1,116
Total Fair Value	1,239,344	1,333,546
Current Investments	515,136	260,945
Long-term Investments	355,200	258,343
Fair Value, Inputs, Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	308,171	695,735
Total Adjusted Cost	1,155,525	1,197,023
Unrealized Gains	63
Unrealized Loss	14,355	1,116
Total Fair Value	1,141,233	1,195,907
Current Investments	515,136	260,945
Long-term Investments	332,218	240,343
Fair Value, Inputs, Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Adjusted Cost	22,760	18,000
Unrealized Gains	222
Unrealized Loss	700
Fair Value	22,282	18,000
Long-term Investments	22,982	18,000
US Treasury Securities [Member] \| Fair Value, Inputs, Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Adjusted Cost	847,354	501,288
Unrealized Gains	63
Unrealized Loss	14,355	1,116
Fair Value	833,062	500,172
Current Investments	515,136	260,945
Long-term Investments	332,218	240,343
Corporate Debt Securities [Member] \| Fair Value, Inputs, Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Adjusted Cost	17,900	18,000
Unrealized Loss	700
Fair Value	17,200	18,000
Long-term Investments	17,900	18,000
Note Receivable [Member] \| Fair Value, Inputs, Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Adjusted Cost	4,860
Unrealized Gains	222
Fair Value	5,082
Long-term Investments	5,082
Cash [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	75,829	119,639
Money Market Funds [Member] \| Fair Value, Inputs, Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	232,477	547,530
Time Deposits [Member] \| Fair Value, Inputs, Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	$ 75,694	$ 148,205

Fair Value of Financial Instr_5

Fair Value of Financial Instruments (Summary of Assets Measured at Fair Value on Nonrecurring Basis) (Details) - Fair Value, Nonrecurring [Member] - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	$ 977	$ 3,832
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Leasehold improvements, property and equipment, net	264	1,041
Operating leases assets	$ 713	$ 2,791

Equity Investments (Narrative)

Equity Investments (Narrative) (Details) - USD ($) shares in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Schedule of Equity Method Investments [Line Items]
Carrying value	$ 11,697,000	$ 9,251,000
Long-term investments	$ 388,055,000	274,311,000
Tractor [Member]
Schedule of Equity Method Investments [Line Items]
Shares acquired	4,325
Ownership percentage	10.30%
Cash consideration	$ 10,000,000
Equity method investment, impairment	0	0
Carrying value	11,697,000	9,251,000
Tractor Warrants [Member]
Schedule of Equity Method Investments [Line Items]
Carrying value	$ 10,747,000	0
Number of shares that may be called by warrants	3,772
Nuro [Member]
Schedule of Equity Method Investments [Line Items]
Shares acquired	766
Recognized gain	$ 5,968,000
Long-term investments	15,968,000	15,968,000
Cultivate Fund [Member]
Schedule of Equity Method Investments [Line Items]
Carrying value	$ 6,140,000	$ 0

Equity Investments (Schedule of

Equity Investments (Schedule of Equity Investments) (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Equity Investments [Abstract]
Equity method investments	$ 11,697	$ 9,251
Other invesments	32,855	15,968
Total	$ 44,552	$ 25,219

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
Income Taxes (Narrative) (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Interest expense related to uncertain tax positions	$ 384	$ 180	$ 554
Interest on income taxes accrued	589	356
Lapsing of statutes of limitations	609	6,833	$ 3,186
Foreign Tax Authority [Member]
Gross NOLS	114,727	108,324
Valuation allowances of deferred tax assets	124,609	119,741
State and Local Jurisdiction [Member]
Gross NOLS	73,327	$ 50,467
Domestic Tax Authority [Member]
Lapsing of statutes of limitations	$ 573

Income Taxes (Summary of Income

Income Taxes (Summary of Income) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Taxes [Abstract]
Domestic	$ 1,192,004	$ 818,057	$ 311,021
Foreign	(10,473)	(5,294)	(17,240)
Income before income taxes	$ 1,181,531	$ 812,763	$ 293,781

Income Taxes (Schedule of Compo

Income Taxes (Schedule of Components of Benefit/(Provision) for Income Taxes) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Taxes [Abstract]
Current tax, U.S. Federal	$ (246,210)	$ (156,447)	$ 204,063
Current tax, U.S. State	(79,041)	(15,351)	(32,684)
Current tax, Foreign	(374)	(338)	(1,044)
Current tax, Total	(325,625)	(172,136)	170,335
Deferred tax, U.S. Federal	23,502	33,004	(120,066)
Deferred tax, U.S. State	19,940	(20,404)	11,507
Deferred tax, Foreign	(3,771)	7,229	7,158
Deferred tax, Total	39,671	19,829	(101,401)
Valuation allowance	3,524	(7,472)	(6,949)
Benefit/(provision) for income taxes	$ (282,430)	$ (159,779)	$ 61,985

Income Taxes (Schedule of Effec

Income Taxes (Schedule of Effective Tax Rate) (Details)	12 Months Ended
Income Taxes (Schedule of Effective Tax Rate) (Details)	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Taxes [Abstract]
Statutory U.S. federal income tax rate	21%	21%	21%
State income tax, net of related federal income tax benefit	3.80%	3.50%	4.20%
Federal tax credits	(1.00%)	(1.60%)	(3.50%)
Executive compensation disallowed	0.80%	2.90%	2.90%
Meals and entertainment	0%	0%	0.10%
Enhanced deduction for food donation	0%	0%	(0.10%)
Valuation allowance	0.20%	0.30%	1.60%
Uncertain tax position reserves	0.30%
Other	0.60%	0%	1.80%
Return to provision and other discrete items	(0.10%)	0.10%	2.10%
Equity compensation related adjustments	(1.70%)	(4.70%)	(13.50%)
Federal net operating loss		(1.80%)	(37.70%)
Effective income tax rate	23.90%	19.70%	(21.10%)

Income Taxes (Schedule of Defer

Income Taxes (Schedule of Deferred Income Tax Liabilities and Assets) (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Income Taxes [Abstract]
Leasehold improvements, property and equipment, net	$ 263,444	$ 279,586
Goodwill and other assets	1,754	1,728
Prepaid assets and other	(4,685)	106
Operating lease assets	901,058	851,324
Total deferred income tax liability	1,161,571	1,132,744
Gift card liability	15,893	9,699
Capitalized transaction costs	323	324
Stock-based compensation and other employee benefits	45,129	45,261
Foreign net operating loss carry-forwards	24,799	27,446
State credits	3,151	3,595
Operating lease liabilities	962,815	909,528
Allowances, reserves and other	15,688	24,179
Capitalized research costs	17,415
State net operating loss carry-forwards	4,832	1,568
Valuation allowance	(27,097)	(30,621)
Total deferred income tax asset	1,062,948	990,979
Deferred income tax liabilities	$ 98,623	$ 141,765

Income Taxes (Schedule of Unrec

Income Taxes (Schedule of Unrecognized Tax Benefits) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Taxes [Abstract]
Beginning of year	$ 5,262	$ 10,859	$ 15,028
Increase resulting from prior year tax position	3,937
(Decrease) resulting from prior year tax position		(151)	(2,853)
Increase resulting from current year tax position	312	1,387	1,870
Settlements with taxing authorities	0	0	0
Lapsing of statutes of limitations	(609)	(6,833)	(3,186)
End of year	$ 8,902	$ 5,262	$ 10,859

Shareholders' Equity (Narrative

Shareholders' Equity (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 07, 2022
Equity, Class of Treasury Stock [Line Items]
Stock repurchase program, authorized amount	$ 413,947
Stock repurchase program, additional authorized amount				$ 200,000
Common stock surrendered as payment	925,912	$ 554,027	$ 102,956
Repurchases in Accordance with Stock Award Agreements [Member]
Equity, Class of Treasury Stock [Line Items]
Common stock surrendered as payment	$ 98,970	$ 79,870	$ 48,555

Stock-Based Compensation and _3

Stock-Based Compensation and Employee Benefit Plans (Narrative) (Details) $ / shares in Units, $ in Thousands	1 Months Ended	12 Months Ended
	Jul. 31, 2022 USD ($) employee shares	Dec. 31, 2022 USD ($) item $ / shares shares	Dec. 31, 2021 USD ($) item $ / shares shares	Dec. 31, 2020 USD ($) employee $ / shares shares	Dec. 31, 2019 shares	May 18, 2022 shares	Dec. 30, 2020 $ / shares
Compensation Related Costs [Line Items]
Grant date fair value \| $ / shares		$ 456.44	$ 403.01	$ 231.52
Total liabilities under Deferred Plan \| $		$ 21,140
2011 Stock Incentive Plan [Member]
Compensation Related Costs [Line Items]
Common stock authorized and reserved for issuances		6,830,000
Common stock remaining available for future issuance			2,141,000
2022 Stock Incentive Plan [Member]
Compensation Related Costs [Line Items]
Common stock authorized and reserved for issuances		2,431,000
Common stock remaining available for future issuance		2,318,000
SOSARs [Member]
Compensation Related Costs [Line Items]
Total intrinsic value of SOSARs exercised \| $		$ 77,124	$ 498,399	$ 236,573
Unearned compensation \| $		$ 29,474
Weighted average period		1 year 7 months 6 days
Expiration period of SOSARs		7 years
Restricted Stock Units (RSUs) [Member]
Compensation Related Costs [Line Items]
Unearned compensation \| $		$ 26,881
Weighted average period		1 year 6 months
Grant date fair value \| $ / shares		$ 1,559.73	$ 1,492.15	$ 905.96
Shares vested, fair value \| $		$ 33,959	$ 73,540	$ 47,649
Units vested		24,000
Units forfeited		9,000
Performance Shares [Member]
Compensation Related Costs [Line Items]
Unearned compensation \| $		$ 29,792
Weighted average period		1 year 3 months 18 days
Grant date fair value \| $ / shares		$ 1,569.39	$ 1,479.55	$ 853.03
Shares vested, fair value \| $		$ 177,293	$ 97,496	$ 60,081
Vesting period		3 years	3 years	3 years
Units vested		54,000
Performance and market measurement period		3 years
Performance Shares [Member] \| 2018 Stock Awards [Member]
Compensation Related Costs [Line Items]
Number of installments \| item		4
Number of employees affected by modified service requirements \| employee				7
Modified service requirements expense \| $				$ 71,441
Stock-based compensation expense \| $		$ 7,255
Modified service requirements expense, unamortized \| $		$ 0
Stock price \| $ / shares							$ 1,374.17
Performance Shares [Member] \| First Half Vested [Member] \| 2018 Stock Awards [Member]
Compensation Related Costs [Line Items]
Units vested			33,000
Number of installments \| item			2
Performance Shares [Member] \| Second Half Vested [Member] \| 2018 Stock Awards [Member]
Compensation Related Costs [Line Items]
Units vested		16,000
Number of installments \| item		2
Performance Shares [Member] \| Defined Minimum Targets Not Met [Member]
Compensation Related Costs [Line Items]
Units vested		0	0	0
Certain Equity Awards of an Employee [Member]
Compensation Related Costs [Line Items]
Units forfeited	1,000
Number of employees terminated employment \| employee	1
Number of employees affected by modified service requirements \| employee	1
Modified service requirements expense \| $	$ 6,701
Certain Equity Awards of an Employee [Member] \| Separation Vesting Period [Member]
Compensation Related Costs [Line Items]
Vesting period	8 months
Minimum [Member] \| Performance Shares [Member] \| Vesting Period 1 [Member]
Compensation Related Costs [Line Items]
Percentage of target number of shares to be earned if certain criteria is met		0%	0%	0%
Maximum [Member] \| Performance Shares [Member]
Compensation Related Costs [Line Items]
Percentage of target number of shares to be earned if certain criteria is met			100%	100%
Maximum [Member] \| Performance Shares [Member] \| Vesting Period 1 [Member]
Compensation Related Costs [Line Items]
Percentage of target number of shares to be earned if certain criteria is met		300%	300%	300%
Maximum [Member] \| Performance Shares [Member] \| Defined Minimum Targets Not Met [Member]
Compensation Related Costs [Line Items]
Percentage of target number of shares to be earned if certain criteria is met		100%
Employee Stock Purchase Plan (ESPP) [Member]
Compensation Related Costs [Line Items]
Purchase price percentage of fair market value of stock on last trading date of monthly exercise period			95%
Purchase price percentage of lower of fair market value on first and last trading days of each offering period		92.50%
Common stock authorized and reserved for ESPP						250,000
Common stock authorized for issuance but not yet issued for ESPP		249,000
Shares issued under ESPP			1,000	1,000	1,000
ESPP employee contribution, percentage		15%
Period of service before an employee is eligible for contribution		1 year
Deferred Plan [Member]
Compensation Related Costs [Line Items]
Employer matching contribution, percentage on first 3%		100%
Employer matching contribution, percentage on next 2%		50%
Percentage of employees' gross pay for which the employer contributes a matching contribution of 100% under the Deferred Plan		3%
Percentage of employees' gross pay for which the employer contributes a matching contribution of 50% under the Deferred Plan		2%
Total liabilities under Deferred Plan \| $		$ 21,140	$ 19,330
401(k) Plan [Member]
Compensation Related Costs [Line Items]
Employer matching contribution, percentage on first 3%		100%
Employer matching contribution, percentage on next 2%		50%
Percentage of employees' gross pay for which the employer contributes a matching contribution of 100%		3%
Percentage of employees' gross pay for which the employer contributes a matching contribution of 50%		2%
Period of service before an employee is eligible for contribution		1 year
Company matching contributions \| $		$ 12,923	$ 10,527	$ 8,490

Stock-Based Compensation and _4

Stock-Based Compensation and Employee Benefit Plans (Summary of Stock-Based Compensation Expense) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Stock-Based Compensation and Employee Benefit Plans [Abstract]
Stock-based compensation	$ 99,821	$ 178,703	$ 84,463
Stock-based compensation, net of income taxes	84,928	159,972	69,904
Total capitalized stock-based compensation included in leasehold improvements, property and equipment, net on the condensed consolidated balance sheets	1,791	2,311	1,837
Excess tax benefit on stock-based compensation recognized in provision for income taxes on the condensed consolidated statements of income and comprehensive income	$ 24,689	$ 47,958	$ 49,690

Stock-Based Compensation and _5

Stock-Based Compensation and Employee Benefit Plans (Summary of SOSAR Activity Under Incentive Plan) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Stock-Based Compensation and Employee Benefit Plans [Abstract]
Outstanding, beginning of year, Shares	364
Outstanding, beginning of year, Weighted-Average Exercise Price	$ 838.62
Granted, Shares	98
Granted, weighted-average exercise price	$ 1,556.14
Exercised, Shares	(84)
Exercised, Weighted-Average Exercise Price	$ 626.94
Forfeited or cancelled, Shares	(23)
Forfeited or cancelled, Weighted-Average Exercise Price	$ 1,361.84
Outstanding, end of year, Shares	355
Outstanding, end of year, Weighted-Average Exercise Price	$ 1,053.84
Outstanding, Weighted-Average Remaining Years of Contractual Life	4 years 4 months 24 days
Outstanding, Aggregate Intrinsic Value	$ 142,916	$ 331,352
Exercisable, Shares	149
Exercisable, Weighted-Average Exercise Price	$ 593.52
Exercisable, Weighted-Average Remaining Years of Contractual Life	3 years
Exercisable, Aggregate Intrinsic Value	$ 118,514
Vested and expected to vest, shares	344
Vested and expected to vest, Weighted-Average Exercise Price	$ 1,038.25
Vested and expected to vest, Weighted-Average Remaining Years of Contractual Life	4 years 3 months 18 days
Vested and expected to vest, Aggregate Intrinsic Value	$ 142,743

Stock-Based Compensation and _6

Stock-Based Compensation and Employee Benefit Plans (Schedule of Assumptions for SOSAR) (Details) - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Stock-Based Compensation and Employee Benefit Plans [Abstract]
Risk-free interest rate	2.10%	0.30%	1.30%
Expected life (years)	3 years 7 months 6 days	3 years 8 months 12 days	3 years 9 months 18 days
Expected dividend yield	0%	0%	0%
Volatility	36%	35.20%	32.40%
Weighted-average Black-Scholes fair value per share at date of grant	$ 456.44	$ 403.01	$ 231.52

Stock-Based Compensation and _7

Stock-Based Compensation and Employee Benefit Plans (Summary of Stock Award Activity Under Incentive Plan) (Details) - $ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding, beginning of year, Shares	58
Outstanding, beginning of year, Grant Date Fair Value	$ 1,064.67
Granted, Shares	30
Granted, Grant Date Fair Value	$ 1,559.73	$ 1,492.15	$ 905.96
Vested, Shares	(24)
Vested, Grant Date Fair Value	$ 798.11
Forfeited, Shares	(9)
Forfeited, Grant Date Fair Value	$ 1,369.09
Outstanding, end of year, Shares	55	58
Outstanding, end of year, Grant Date Fair Value	$ 1,396.78	$ 1,064.67
Vested and expected to vest, end of year, Shares	50
Vested and expected to vest, end of year, Grant Date Fair Value	$ 1,382.72
Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding, beginning of year, Shares	105
Outstanding, beginning of year, Grant Date Fair Value	$ 928.28
Granted, Shares	24
Granted, Grant Date Fair Value	$ 1,569.39	$ 1,479.55	$ 853.03
Vested, Shares	(54)
Vested, Grant Date Fair Value	$ 791.65
Expired, Shares	(6)
Expired, Grant Date Fair Value	$ 1,117.45
Outstanding, end of year, Shares	69	105
Outstanding, end of year, Grant Date Fair Value	$ 1,194.80	$ 928.28
Vested and expected to vest, end of year, Shares	116
Vested and expected to vest, end of year, Grant Date Fair Value	$ 1,097.75

Stock-Based Compensation and _8

Stock-Based Compensation and Employee Benefit Plans (Summarization of Estimated Current and Long-Term Cash Requirements for Deferred Compensation) (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Stock-Based Compensation and Employee Benefit Plans [Abstract]
Total	$ 21,140
2023	4,153
2024-2025	5,074
2026-2027	4,665
Thereafter	$ 7,248

Leases (Narrative) (Details)

Leases (Narrative) (Details) $ in Thousands	12 Months Ended
Leases (Narrative) (Details) $ in Thousands	Dec. 31, 2022 USD ($) item	Dec. 31, 2021 USD ($)
Lessee, Lease, Description [Line Items]
Option to extend, additional periods	5 years
Renewal period	20 years
Operating lease payments related to options to extend lease terms	$ 2,401,022
Operating lease payments not yet commenced	445,913
Future sublease income	$ 16,994
Number of sale leaseback transactions \| item	6
Accrued Liabilities Current and Other Liabilities Noncurrent [Member]
Lessee, Lease, Description [Line Items]
Deemed landlord financing liability	$ 1,158	$ 1,515

Leases (Schedule of Supplementa

Leases (Schedule of Supplemental Balance Sheet Information Related to Leases) (Details)	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Weighted average remaining lease term (years)	13 years 9 months 18 days	13 years 9 months 18 days
Weighted average discount rate	4.77%	4.56%

Leases (Schedule of Lease Expen

Leases (Schedule of Lease Expense Components) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Total lease cost	$ 494,937	$ 451,785	$ 368,186
Occupancy, Other Operating Costs, General and Administrative Expenses And Pre-Opening Costs [Member]
Operating lease cost	397,112	364,314	333,878
Variable lease cost	102,636	92,145	37,860
Other Operating Costs [Member]
Short-term lease cost	633	256	36
General and Administrative Expenses [Member]
Sublease income	$ (5,444)	$ (4,930)	$ (3,588)

Leases (Schedule of Supplemen_2

Leases (Schedule of Supplemental Cash Flow Related to Leases) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
Cash paid for operating lease liabilities	$ 386,238	$ 359,391	$ 316,249
Operating lease assets obtained in exchange for operating lease liabilities	425,243	577,273	484,888
Derecognition of operating lease assets due to terminations or impairment	$ 14,718	$ 5,765	$ 20,242

Leases (Schedule of Maturity of

Leases (Schedule of Maturity of Lease Liabilities) (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Leases [Abstract]
2023	$ 375,174
2024	404,139
2025	396,777
2026	389,276
2027	382,790
Thereafter	3,212,975
Total lease payments	5,161,131
Less: imputed interest	1,429,721
Operating lease liabilities (Current and Long-Term)	$ 3,731,410

Earnings Per Share (Basic and D

Earnings Per Share (Basic and Diluted Earnings per Share) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Earnings Per Share [Abstract]
Net income	$ 899,101	$ 652,984	$ 355,766
Weighted-average number of common shares outstanding (for basic calculation)	27,851	28,132	27,917
Dilutive stock awards	211	379	499
Weighted-average number of common shares outstanding (for diluted calculation)	28,062	28,511	28,416
Basic earnings per share	$ 32.28	$ 23.21	$ 12.74
Diluted earnings per share	$ 32.04	$ 22.90	$ 12.52

Earnings Per Share (Stock Award

Earnings Per Share (Stock Awards Excluded from the Calculation of Diluted EPS) (Details) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Earnings Per Share [Abstract]
Stock awards subject to performance conditions	54	66	87
Stock awards that were antidilutive	163	34	57
Total stock awards excluded from diluted earnings per share	217	100	144

Commitments and Contingencies (

Commitments and Contingencies (Narrative) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($) store
Loss contingency accrual	$ 15,227
Fair Work Week [Member]
Number of restaurants under litigation \| store	5
Civil penalties paid	$ 1,000
Litigation settlement amount	$ 20,000

Debt (Narrative) (Details)

Debt (Narrative) (Details) - Revolving Credit Facility [Member] - JPMorgan Chase Bank [Member]		12 Months Ended
	Feb. 01, 2023	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Line of Credit Facility [Line Items]
Credit facility, maximum borrowing capacity		$ 500,000,000
Credit facility, commitment fee percentage		0.175%
Total leverage ratio		3
Fixed charge coverage ratio		1.5
Credit facility, amount outstanding		$ 0	$ 0
London Interbank Offered Rate (LIBOR) [Member]
Line of Credit Facility [Line Items]
Additional interest		1.375%
Subsequent Event [Member]
Line of Credit Facility [Line Items]
Credit spread adjustment	0.10%

Related Party Transactions (Nar

Related Party Transactions (Narrative) (Details) - Tractor [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Related Party Transaction [Line Items]
Ownership percentage	10.30%
Purchases from related party	$ 37,015	$ 29,400	$ 11,931