Company: CAVA
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001628280-25-049080
Chunk: 45

Company: CAVA GROUP, INC.
Filing Date: 2025-11-05
Form: 10-Q
Item: Item 8
Chunk 45
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 fair value option. As a result, the embedded conversion feature, which would otherwise require bifurcation, is not accounted for separately. The fair value of the Note Receivable is determined under a market approach utilizing Level 3 inputs such as estimates of the equity value of the underlying business, volatility, and a probability-weighted expected time to exit.The fair value of the Company’s assets that are measured on a recurring basis was as follows:(in thousands)October 5, 2025Security Type CategoryLevel 1Level 2Level 3TotalAsset backed$— $10,363 $— $10,363 Commercial deposits— 3,134 — 3,134 Corporate bonds— 67,150 — 67,150 U.S. government bonds22,468 — — 22,468 Fixed income debt securities22,468 80,647 — 103,115 Note Receivable— — 5,429 5,429 Total$22,468 $80,647 $5,429 $108,544 Assets 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. For the forty weeks ended October 5, 2025 and October 6, 2024, nonrecurring fair value measurements resulting in asset impairments were not material.

5.    SUPPLEMENTAL BALANCE SHEET INFORMATION

Property and equipment, netThe Company’s property and equipment, net, were as follows:(in thousands)October 5,2025December 29,2024Land$600 $600 Building24,047 24,042 Leasehold improvements393,889 332,312 Equipment and other125,599 107,995 Furniture and fixtures21,750 20,860 Computer hardware and software61,853 54,217 Construction in progress53,426 27,725 Total property and equipment, gross681,164 567,751 Less accumulated depreciation(241,826)(194,849)Total property and equipment, net$439,338 $372,902 Construction