Company: CAVA
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001639438-25-000007
Chunk: 17

Company: CAVA GROUP, INC.
Filing Date: 2025-08-13
Form: 10-Q
Item: Item 1
Chunk 17
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 assets that are measured on a recurring basis was as follows:(in thousands)July 13, 2025Security Type CategoryLevel 1Level 2Level 3TotalAsset backed$— $9,654 $— $9,654 Commercial deposits— 8,734 — 8,734 Corporate bonds— 64,479 — 64,479 U.S. government bonds12,744 — — 12,744 Fixed income debt securities12,744 82,867 — 95,611 Note Receivable— — 5,429 5,429 Total$12,744 $82,867 $5,429 $101,040 Assets and Liabilities Measured at Fair Value on a Non-recurring Basis—Assets recognized or disclosed at fair value in the accompanying unaudited condensed consolidated financial statements on a nonrecurring basis may include items such as property and equipment, net, operating lease assets, goodwill, and intangible assets. These assets are measured at fair value whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable.

Certain operating lease assets and property and equipment, net, for which an impairment loss of $1.1 million was recognized during the twenty-eight weeks ended July 13, 2025, were measured at fair value, on a non-recurring basis as of April 20, 2025. The fair value of these assets was concluded to be $1.0 million using an income approach (discounted cash flow method), which was measured using Level 3 inputs. Unobservable inputs include projected restaurant revenues and expenses and the discount rate. 

5.    SUPPLEMENTAL BALANCE SHEET INFORMATION

Property and equipment, netThe Company’s property and equipment, net, were as follows:(in thousands)July 13,2025December 29,2024Land$600 $600 Building24,042 24,042 Leasehold improvements369,454 332,312 Equipment and other119,991 107,995 Furniture and fixtures21,395 20,860 Computer hardware and software59,479 54,217 Construction in progress50,014 27,725 Total property and equipment, gross644,975 567,751 Less accumulated depreciation(226,948)(194,849)Total property and equipment, net$418,027 $372,902