Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment, Net

v3.24.3
Property and Equipment, Net
9 Months Ended
Sep. 30, 2024
Property and Equipment, Net  
Property and Equipment, Net

Note 3 – Property and Equipment, Net

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

​

​

​

​

​

​

​

​

​

​

September 30, 

​

December 31, 

​

​

2024

​

2023

Furniture, fixtures and equipment

​

$

73,821

​

$

49,753

Leasehold improvements

​

 

226,063

​

 

130,136

Less: accumulated depreciation

​

 

(78,316)

​

 

(60,128)

Subtotal

​

 

221,568

​

 

119,761

Construction in progress

​

 

44,095

​

 

17,044

Restaurant smallwares

​

 

4,781

​

 

3,103

Total

​

$

270,444

​

$

139,908

​

Depreciation related to property and equipment was $9.3 million and $3.6 million for the three months ended September 30, 2024 and 2023, respectively, and $22.3 million and $10.6 million for the nine months ended September 30, 2024 and 2023, respectively. The Company depreciates construction in progress upon such assets being placed into service.