Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment, net

v3.22.1
Property and Equipment, net
3 Months Ended
Mar. 31, 2022
Property and Equipment, net  
Property and Equipment, net

Note 2 – Property and Equipment, net

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

March 31, 

December 31, 

2022

2021

Furniture, fixtures and equipment

$

25,327

$

24,942

Leasehold improvements

 

77,158

 

76,500

Less: accumulated depreciation

 

(41,495)

 

(39,425)

Subtotal

 

60,990

 

62,017

Construction in progress

 

8,454

 

5,374

Restaurant smallwares

 

2,247

 

2,247

Total

$

71,691

$

69,638

Depreciation related to property and equipment was $2.5 million for both the three months ended March 31, 2022 and 2021. The Company does not depreciate construction in progress until such assets are placed into service.