Company: NGVC
Filing Date: 2025-12-11
Form Type: 10-K
Source: 0001437749-25-037556
Chunk: 602

Company: Natural Grocers by Vitamin Cottage, Inc.
Filing Date: 2025-12-11
Form: 10-K
Item: Item 7A
Chunk 602
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 economic and regulatory factors.

As of September 30, 2025 and 2024, the Company had property and equipment assets of $182.7 million and $178.6 million, respectively, operating lease assets of $259.6 million and $275.1 million, respectively, finance lease assets of $42.9 million and $40.8 million, respectively, intangible assets subject to amortization of $6.2 million and $7.9 million, respectively, and other assets subject to amortization of $5.1 million and $0.2 million, respectively. In fiscal years 2025, 2024 and 2023, the Company concluded, as a result of its review for potential long-lived asset impairments, that certain long-lived assets were impaired. The Company recorded asset impairments of $0.1 million, $2.2 million and $1.3 million for the years ended September 30, 2025, 2024 and 2023, respectively.

8. Other Assets

Other assets as of September 30, 2025 and 2024, are summarized as follows, dollars in thousands:

			Useful lives

			As of September 30,

			(in years)

			2025

			2024

			Amortizable other assets:

			SaaS implementation costs

			3
			–
			7

			$
			5,150

			171

			Less accumulated amortization

			(7
			)

			(—
			)

			Amortizable other assets, net

			5,143

			171

			Deposits

			n/a

			180

			158

			Deferred sublease rents

			n/a

			127

			127

			Other

			n/a

			2

			2

			Total other assets

			$
			5,452

			458

Total internal staff compensation costs capitalized related to SaaS implementations were $0.7 million and less than $0.1 million for the years ended September 30, 2025 and 2024, respectively.

70

9. Goodwill and Other Intangible Assets

Goodwill and other intangible assets as of September 30, 2025 and 2024, are summarized as follows, dollars in thousands:

			Useful lives