Annual report pursuant to Section 13 and 15(d)

Property and Equipment, net

v3.22.0.1
Property and Equipment, net
12 Months Ended
Dec. 31, 2021
Property and Equipment, net  
Property and Equipment, net

Note 3 – Property and Equipment, net

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

December 31, 

December 31, 

2021

2020

Furniture, fixtures and equipment

$

24,942

$

22,328

Leasehold improvements

 

76,500

 

71,654

Less: accumulated depreciation and amortization

 

(39,425)

 

(30,948)

Subtotal

 

62,017

 

63,034

Construction in progress

 

5,374

 

2,294

Restaurant smallwares

 

2,247

 

2,016

Total

$

69,638

$

67,344

Depreciation and amortization related to property and equipment amounted to $9.9 million and $9.2 million for the years ended December 31, 2021 and 2020, respectively. The Company does not depreciate construction in progress until such assets are placed into service.

For the years ended December 31, 2021 and 2020, the Company did not identify any event or changes in circumstances that indicated that the carrying values of its restaurant assets were impaired.