Company: CAVA
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001628280-25-007882
Chunk: 236

Company: CAVA GROUP, INC.
Filing Date: 2025-02-26
Form: 10-K
Item: Item 8
Chunk 236
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 procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the company’s assets that could have a material effect on the financial statements.

Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

/s/ Deloitte & Touche LLP

McLean, Virginia

February 25, 2025

62

CAVA GROUP, INC.CONSOLIDATED BALANCE SHEETS(in thousands, except per share amounts)December 29,2024December 31,2023ASSETSCurrent assets:Cash and cash equivalents$366,120 $332,428 Trade accounts receivable, net4,799 3,662 Other accounts receivable8,197 8,223 Inventories7,600 5,637 Prepaid expenses and other7,438 4,962 Total current assets394,154 354,912 Property and equipment, net372,902 330,730 Operating lease assets321,832 289,451 Goodwill1,944 1,944 Intangible assets1,355 1,355 Deferred income taxes71,537 — Other long-term assets5,945 5,365 Total assets$1,169,669 $983,757 LIABILITIES AND STOCKHOLDERS’ EQUITYCurrent liabilities:Accounts payable$25,573 $17,234 Accrued expenses and other69,822 59,219 Operating lease liabilities, current37,241 32,583 Total current liabilities132,636 109,036 Deferred income taxes— 79 Operating lease liabilities341,467 303,615 Other long-term liabilities— 225 Total liabilities474,103 412,955 Commitments and Contingencies (Note 9