Mister Car Wash Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment, Net

Property and Equipment, Net

9 Months Ended

Sep. 30, 2022

Property, Plant and Equipment [Abstract]

Property and Equipment, Net

3. Property and Equipment, Net

Property and equipment, net consisted of the following for the periods presented:


	As of
	September 30, 2022			December 31, 2021
Land	$	88,409		$	81,911
Buildings and improvements		172,978			171,540
Finance leases		16,604			16,497
Leasehold improvements		103,124			92,821
Vehicles and equipment		212,296			188,053
Furniture, fixtures and equipment		82,882			73,213
Construction in progress		53,057			24,724
Property and equipment, gross		729,350			648,759
Less: accumulated depreciation		(212,960	)		(175,017	)
Less: accumulated depreciation - finance leases		(2,033	)		(1,294	)
Property and equipment, net	$	514,357		$	472,448

For the three months ended September 30, 2022 and 2021, depreciation expense was $13,314 and $11,388, respectively. For the nine months ended September 30, 2022 and 2021, depreciation expense was $39,446 and $31,596, respectively.

For the three months ended September 30, 2022 and 2021, amortization expense on finance leases was $250 and $242, respectively. For the nine months ended September 30, 2022 and 2021, amortization expense on finance leases was $739 and $727, respectively.