Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment, net

v3.23.1
Property and Equipment, net
3 Months Ended
Mar. 31, 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):

March 31, 

December 31, 

2023

2022

Furniture, fixtures and equipment

$

35,862

$

33,372

Leasehold improvements

 

92,691

 

89,121

Less: accumulated depreciation

 

(50,309)

 

(47,528)

Subtotal

 

78,244

 

74,965

Construction in progress

 

20,344

 

16,276

Restaurant smallwares

 

2,876

 

2,846

Total

$

101,464

$

94,087

Depreciation related to property and equipment was $3.6 million and $2.5 for the three months ended March 31, 2023 and 2022, respectively. The Company does not depreciate construction in progress until such assets are placed into service.