Annual report pursuant to Section 13 and 15(d)

Property and Equipment, net

v3.20.4
Property and Equipment, net
 12 Months Ended
Dec. 31, 2020
Property and Equipment, net  
Property and Equipment, net

Note 6 – Property and Equipment, net

Property and equipment, net consist of the following (in thousands):

 

 

 

 

 

 

 

 

 

December 31, 

 

December 31, 

 

 

2020

 

2019

Furniture, fixtures and equipment

 

$

22,328

 

$

20,512

Leasehold improvements

 

 

71,654

 

 

69,925

Less: accumulated depreciation and amortization

 

 

(30,948)

 

 

(21,997)

Subtotal

 

 

63,034

 

 

68,440

Construction in progress

 

 

2,294

 

 

97

Restaurant smallwares

 

 

2,016

 

 

1,946

Total

 

$

67,344

 

$

70,483

 

Depreciation and amortization related to property and equipment amounted to $9.2 million and $5.4 million for the years ended December 31, 2020 and 2019, respectively. The Company does not depreciate construction in progress, assets not yet put into service or restaurant smallwares.

For the years ended December 31, 2020 and 2019, the Company did not identify any event or changes in circumstances that indicated that the carrying values of its restaurant assets were impaired.