CAVA GROUP, INC. Leases Disclosure
| December 28, 2025 | December 29, 2024 | ||||||||||
| Weighted average remaining lease term (years) | 8.5 | 8.2 | |||||||||
| Weighted average discount rate | 6.63 | % | 6.26 | % | |||||||
| (in thousands) | Classification | 2025 | 2024 | 2023 | ||||||||||||||||
Operating lease cost1 | Occupancy, General and administrative expenses | $ | 61,494 | $ | 52,573 | $ | 44,201 | |||||||||||||
| Pre-opening lease cost | Pre-opening costs | 6,591 | 3,867 | 4,296 | ||||||||||||||||
Closed restaurant lease cost | Other income, net, Restructuring and other costs | 95 | 97 | 558 | ||||||||||||||||
Short-term lease cost | General and administrative expenses | 428 | 328 | 364 | ||||||||||||||||
| Variable lease cost | Occupancy | 2,321 | 2,695 | 1,421 | ||||||||||||||||
| Sublease income | Other income, net | (347) | (470) | (479) | ||||||||||||||||
| Total lease cost | $ | 70,582 | $ | 59,090 | $ | 50,361 | ||||||||||||||
| (in thousands) | 2025 | 2024 | 2023 | ||||||||||||||
| Cash paid for operating lease liabilities | $ | 64,842 | $ | 58,172 | $ | 48,739 | |||||||||||
Operating lease assets obtained in exchange for operating lease liabilities | 108,467 | 66,820 | 43,985 | ||||||||||||||
| Derecognition of operating lease assets due to termination or impairment | 391 | 109 | 4,946 | ||||||||||||||
| (in thousands) | Operating Leases | ||||
| 2026 | $ | 77,297 | |||
| 2027 | 79,551 | ||||
| 2028 | 75,063 | ||||
| 2029 | 70,856 | ||||
| 2030 | 67,107 | ||||
| Thereafter | 255,004 | ||||
| Total | 624,878 | ||||
| Less: imputed interest | 158,630 | ||||
| Operating lease liabilities (current and non-current) | $ | 466,248 | |||
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Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 25, 2026 | Showing above |
| 2024 | Feb 26, 2025 | |
| 2023 | Feb 27, 2024 | |
About Leases Disclosures
Lease disclosures under ASC 842 provide a comprehensive view of a company's leased asset portfolio, including the split between operating and finance leases, discount rates used to present-value future payments, and the maturity schedule of lease obligations. This section reveals a significant source of off-balance-sheet commitments that were largely hidden before the current standard.
Key signals: the weighted-average discount rate affects the size of recorded lease liabilities — a higher rate reduces the reported obligation, so compare the chosen rate against the company's incremental borrowing rate. The operating versus finance lease mix affects both EBITDA and operating income presentation. Watch the maturity table for concentration risk: large payment cliffs in specific years may create cash flow pressure. Variable lease payments excluded from the liability measurement represent real obligations that do not appear on the balance sheet. Compare total lease costs against prior-year operating lease expense to assess the true economic burden.