PROPERTY AND EQUIPMENT

3 Months Ended

Mar. 31, 2024

Property, Plant and Equipment [Abstract]

Property and equipment are stated at cost. Depreciation is calculated using the straight-line method over the estimated useful lives of the assets. Leasehold improvements are amortized using the straight-line method over the shorter of the lease term or estimated useful life. A summary of property and equipment is as follows:


(dollar amounts in thousands)	As of March 31, 2024		As of December 31, 2023
Kitchen equipment	$	92,162	$	89,814
Computers and other equipment	38,806		37,984
Furniture and fixtures	38,308		36,692
Leasehold improvements	271,966		262,191
Assets not yet placed in service	24,969		26,269
Total property and equipment	466,211		452,950
Less: accumulated depreciation	(199,079)		(186,048)
Property and equipment, net	$	267,132	$	266,902

Depreciation expense for the thirteen weeks ended March 31, 2024 and March 26, 2023 was $13.7 million and $11.1 million, respectively.

As of March 31, 2024, the Company had 9 facilities under construction due to open during fiscal year 2024. As of December 31, 2023, the Company had 7 facilities under construction, all of which were due to open during fiscal year 2024. Depreciation commences after a store opens and the related assets are placed in service.

Total research and development cost was $0.3 million for both the thirteen weeks ended March 31, 2024 and March 26, 2023. Research and development cost is recorded within general and administrative cost in the Company’s accompanying condensed consolidated statement of operations