Company: NGVC
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001437749-25-015486
Chunk: 23

Company: Natural Grocers by Vitamin Cottage, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 8
Chunk 23
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339

			45,225

			335,564

			Less current portion

			(36,275
			
			)

			(4,069
			
			)

			(40,344
			
			)

			Noncurrent lease liability

			$
			254,064

			41,156

			295,220

The table above excludes $12.1 million of legally binding minimum lease payments for leases that had been executed as of March 31, 2025 but whose terms had not yet commenced.

8. Property and Equipment

The Company had the following property and equipment balances as of March 31, 2025 and September 30, 2024, dollars in thousands:

			As of

			Useful lives
			(in years)

			March 31,

			2025

			September 30,

			2024

			Construction in process

			n/a

			$
			892

			5,758

			Land

			n/a

			6,746

			6,746

			Buildings

			16
			–
			40

			60,578

			60,556

			Land improvements

			1
			–
			24

			2,424

			2,324

			Leasehold and building improvements

			1
			–
			25

			192,663

			185,045

			Fixtures and equipment

			5
			–
			7

			171,022

			167,060

			Computer hardware and software

			3
			–
			5

			31,749

			30,622

			466,074

			458,111

			Less accumulated depreciation and amortization

			(285,227
			
			)

			(279,502
			
			)

			Property and equipment, net

			$
			180,847

			178,609

14

Depreciation and amortization expense for the three and six months ended March 31, 2025 and 2024 is summarized as follows, dollars in thousands:

			Three months ended
			March 31,

			Six months ended
			March 31,