Company: CAVA
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001628280-25-007882
Chunk: 252

Company: CAVA GROUP, INC.
Filing Date: 2025-02-26
Form: 10-K
Item: Item 8
Chunk 252
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 measured at fair value on a non-recurring basis due to impairment charges. The fair value of these assets was measured using an income approach (discounted cash flow method), which relies on Level 3 inputs as described in Note 2 (Basis of Presentation and Significant Accounting Policies).  (in thousands)LevelDecember 31,2023Certain property and equipment, net3668

73

The following tables presents impairment charges by reportable segment and asset disposal costs recognized during the fiscal years indicated:(in thousands)202420232022Impairment chargesCAVA$— $547 $1,247 Zoes Kitchen— 745 6,053 Other— — 1,676 Total impairment— 1,292 8,976 Total asset disposal costs5,055 3,607 10,777 Total impairment and asset disposal costs$5,055 $4,899 $19,753 

Impairment charges within the Zoes Kitchen segment were recognized in connection with the Company’s conversion strategy. Impairment charges within Other relate to the relocation of our restaurant collaboration center. Asset disposal costs primarily relate to normal course replacement of certain assets in our restaurants in all fiscal years presented, the impact of Hurricane Helene on one of our restaurants in North Carolina in fiscal 2024, and the Zoes Kitchen segment in connection with our conversion strategy as described in Note 13 (Segment Reporting) in fiscal 2023 and 2022. 

5.    SUPPLEMENTAL BALANCE SHEET INFORMATION

The following table presents the Company’s property and equipment, net as of the periods indicated:(in thousands)December 29,2024December 31,2023Land$600 $600 Building24,042 — Leasehold improvements332,312 268,245 Equipment107,995 79,268 Furniture and fixtures20,860 19,694 Computer hardware and software54,217 46,437 Construction in progress27,725 58,501 Total property and equipment, gross567,751 472,745 Less accumulated depreciation(194,849)(142,015)Total property and equipment, net$372,902 $330,730 Construction in progress includes CAVA new restaurant openings and technology improvements. Building, as of December 29, 2024 and construction in progress as of December 31, 2023, include the new production facility in Verona, Virginia