Annual report [Section 13 and 15(d), not S-K Item 405]

Property and Equipment, net

v3.25.0.1
Property and Equipment, net
12 Months Ended
Dec. 31, 2024
Property and Equipment, net  
Property and Equipment, net

Note 4 – Property and Equipment, net

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

December 31, 

December 31, 

2024

2023

Furniture, fixtures and equipment

$

80,362

$

49,753

Leasehold improvements

 

247,575

 

130,136

Less: accumulated depreciation

 

(88,638)

 

(60,128)

Subtotal

 

239,299

 

119,761

Construction in progress

 

31,982

 

17,044

Restaurant smallwares

 

4,839

 

3,103

Total

$

276,120

$

139,908

Depreciation related to property and equipment amounted to $33.5 million and $15.1 million for the years ended December 31, 2024 and 2023, respectively. The Company depreciates construction in progress upon such assets being placed into service.