Company: NGVC
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001437749-25-015486
Chunk: 72

Company: Natural Grocers by Vitamin Cottage, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 72
---
.6 million of operating lease liabilities and recorded a $0.2 million loss. In addition, during the three and six months ended March 31, 2025, the Company incurred impairment charges related to operating lease assets of less than $0.1 million and $0.1 million, respectively, associated with a store closure and an early store relocation and store closures, respectively, and during the three and six months ended March 31, 2024, the Company incurred impairment charges related to operating lease assets of $0.1 million, associated with store closures.

Future lease payments under non-cancellable leases as of March 31, 2025 were as follows, dollars in thousands:

			Fiscal year 

			Operating 

			leases

			Finance

			leases

			Total

			Remainder of 2025

			$
			23,787

			3,028

			26,815

			2026

			46,574

			6,093

			52,667

			2027

			45,124

			6,138

			51,262

			2028

			42,318

			5,053

			47,371

			2029

			37,981

			3,905

			41,886

			Thereafter

			158,485

			37,026

			195,511

			Total future undiscounted lease payments

			354,269

			61,243

			415,512

			Less imputed interest

			(63,930
			
			)

			(16,018
			
			)

			(79,948
			
			)

			Total reported lease liability

			290,339

			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