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

Property and Equipment, net

v3.26.1
Property and Equipment, net
12 Months Ended
Dec. 28, 2025
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 28,

December 31,

2025

2024

Furniture, fixtures and equipment

$

88,823

$

80,362

Leasehold improvements

 

266,224

 

247,575

Less: accumulated depreciation

 

(117,365)

 

(88,638)

Subtotal

 

237,682

 

239,299

Construction in progress

 

35,097

 

31,982

Restaurant smallwares

 

5,416

 

4,839

Total

$

278,195

$

276,120

Depreciation related to property and equipment amounted to $42.1 million and $33.5 million for the years ended December 28, 2025 and December 31, 2024, respectively. The Company also recorded $4.0 million in accelerated depreciation relating to property and equipment for the restaurants closed or to be closed, which is presented in lease termination and exit expenses within the consolidated statement of operations. The Company depreciates construction in progress upon such assets being placed into service.