Company: MCW
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000950170-25-024533
Chunk: 117

Company: Mister Car Wash, Inc.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 7
Chunk 117
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Dollars in thousands)
     
    2024

    2023

    $ Change

    % Change

    General and administrative
     
    $
    107,980

    $
    105,708

    $
    2,272

    2
    %

    Percentage of net revenues

    11
    %

    11
    %

The increase in general and administrative expenses was primarily attributable to the debt refinancing costs in the current year, partially offset by decreases in travel and other expenses.

Loss on Sale of Assets, net

    Year Ended December 31,

    (Dollars in thousands)
     
    2024

    2023

    $ Change

    % Change

    Loss on sale of assets, net
     
    $
    12,435

    $
    125

    $
    12,310

    9,848
    %

    Percentage of net revenues

    1
    %

    0
    %

The change in loss on sale of assets, net in 2024 was primarily attributable to more significant net losses associated with our sale-leaseback activity in the current year and impairments associated with store closures and relocations.

Total Other Expense, net

    Year Ended December 31,

    (Dollars in thousands)
     
    2024

    2023

    $ Change

    % Change

    Total other expense, net
     
    $
    76,265

    $
    75,104

    $
    1,161

    2
    %

    Percentage of net revenues

    8
    %

    8
    %

The increase in total other expense, net was primarily attributable to increased interest expense and loss on extinguishment of debt related to our debt refinancing activity in the current year, partially offset by a gain related to the recognition of an employee retention credit.

Income Tax Provision

    Year Ended December 31,

    (Dollars in thousands)
     
    2024

    2023

    $ Change

    % Change

    Income tax provision
     
    $
    32,428

    $
    22,911

    $
    9,517

    42
    %

    Percentage of net revenues

    3
    %

    2
    %

The increase in income tax provision was primarily attributable to the net