Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment, Net

v3.23.2
Property and Equipment, Net
6 Months Ended
Jun. 30, 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):

June 30, 

December 31, 

2023

2022

Furniture, fixtures and equipment

$

37,007

$

33,372

Leasehold improvements

 

93,372

 

89,121

Less: accumulated depreciation

 

(53,244)

 

(47,528)

Subtotal

 

77,135

 

74,965

Construction in progress

 

31,383

 

16,276

Restaurant smallwares

 

2,991

 

2,846

Total

$

111,509

$

94,087

Depreciation related to property and equipment was $3.4 million and $2.9 million for the three months ended June 30, 2023 and 2022, respectively, and $7.0 million and $5.4 million for the six months ended June 30, 2023 and 2022, respectively. The Company depreciates construction in progress upon such assets being placed into service.