Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment, Net

v3.23.3
Property and Equipment, Net
9 Months Ended
Sep. 30, 2023
Property and Equipment, Net  
Property and Equipment, Net

Note 2 – Property and Equipment, Net

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

​

​

​

​

​

​

​

​

​

​

September 30, 

​

December 31, 

​

​

2023

​

2022

Furniture, fixtures and equipment

​

$

39,844

​

$

33,372

Leasehold improvements

​

 

99,562

​

 

89,121

Less: accumulated depreciation

​

 

(56,371)

​

 

(47,528)

Subtotal

​

 

83,035

​

 

74,965

Construction in progress

​

 

39,482

​

 

16,276

Restaurant smallwares

​

 

2,891

​

 

2,846

Total

​

$

125,408

​

$

94,087

​

Depreciation related to property and equipment was $3.6 million and $2.9 million for the three months ended September 30, 2023 and 2022, respectively, and $10.6 million and $8.3 for the nine months ended September 30, 2023 and 2022, respectively. The Company depreciates construction in progress upon such assets being placed into service.