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, 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
	September 30, 2023			December 31, 2022
Land	$	104,643		$	94,594
Buildings and improvements		228,008			189,998
Finance leases		16,604			16,604
Leasehold improvements		125,249			115,811
Vehicles and equipment		257,854			229,453
Furniture, fixtures and equipment		95,307			86,613
Construction in progress		94,252			53,373
Property and equipment, gross		921,917			786,446
Less: accumulated depreciation		(258,147	)		(223,288	)
Less: accumulated amortization - finance leases		(3,037	)		(2,284	)
Property and equipment, net	$	660,733		$	560,874

For the three months ended September 30, 2023 and 2022, depreciation expense was $15,633 and $13,314, respectively. For the nine months ended September 30, 2023 and 2022, depreciation expense was $45,567 and $39,446, respectively.

For the three months ended September 30, 2023 and 2022, amortization expense on finance leases was $251 and $250, respectively. For the nine months ended September 30, 2023 and 2022, amortization expense on finance leases was $753 and $739, respectively.