Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment, net

v3.21.1
Property and Equipment, net
 3 Months Ended
Mar. 31, 2021
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, 

 

 

2021

 

2020

Furniture, fixtures and equipment

 

$

22,996

 

$

22,328

Leasehold improvements

 

 

71,960

 

 

71,654

Less: accumulated depreciation

 

 

(33,009)

 

 

(30,948)

Subtotal

 

 

61,947

 

 

63,034

Construction in progress

 

 

3,961

 

 

2,294

Restaurant smallwares

 

 

2,016

 

 

2,016

Total

 

$

67,924

 

$

67,344

 

Depreciation related to property and equipment was $2.5 million and $2.2 million for the three months ended March 31, 2021 and 2020, respectively. The Company does not depreciate construction in progress, assets not yet put into service or restaurant smallwares.