Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment, net

v3.24.1.u1
Property and Equipment, net
3 Months Ended
Mar. 31, 2024
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, 

2024

2023

Furniture, fixtures and equipment

$

49,744

$

49,753

Leasehold improvements

 

134,127

 

130,136

Less: accumulated depreciation

 

(63,526)

 

(60,128)

Subtotal

 

120,345

 

119,761

Construction in progress

 

23,524

 

17,044

Restaurant smallwares

 

3,435

 

3,103

Total

$

147,304

$

139,908

Depreciation related to property and equipment was $5.3 million and $3.6 for the three months ended March 31, 2024 and 2023, respectively. The Company depreciates construction in progress upon such assets being placed into service.