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

6 Months Ended

Jun. 30, 2023

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
	June 30, 2023			December 31, 2022
Land	$	95,069		$	94,594
Buildings and improvements		184,178			189,998
Finance leases		16,604			16,604
Leasehold improvements		127,997			115,811
Vehicles and equipment		246,251			229,453
Furniture, fixtures and equipment		92,603			86,613
Construction in progress		81,490			53,373
Property and equipment, gross		844,192			786,446
Less: accumulated depreciation		(245,869	)		(223,288	)
Less: accumulated amortization - finance leases		(2,786	)		(2,284	)
Property and equipment, net	$	595,537		$	560,874

For the three months ended June 30, 2023 and 2022, depreciation expense was $14,555 and $13,198, respectively. For the six months ended June 30, 2023 and 2022, depreciation expense was $29,934 and $26,132, respectively.

For the three months ended June 30, 2023 and 2022, amortization expense on finance leases was $251 and $246, respectively. For the six months ended June 30, 2023 and 2022, amortization expense on finance leases was $502 and $489, respectively.