Company: NGVC
Filing Date: 2025-02-06
Form Type: 10-Q
Source: 0001437749-25-003026
Chunk: 18

Company: Natural Grocers by Vitamin Cottage, Inc.
Filing Date: 2025-02-06
Form: 10-Q
Item: Part I, Item 1
Chunk 18
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			$
			11,476

			11,380

			Operating cash flows from finance leases

			542

			585

			Financing cash flows from finance leases

			969

			815

			Lease assets obtained in exchange for new lease liabilities:

			Operating leases

			1,612

			4,680

			Finance leases

			—

			(52
			)

12

Additional information related to the Company’s leases as of December 31, 2024 and 2023 was as follows:

			December 31,

			2024

			2023

			Weighted-average remaining lease term (in years):

			Operating leases

			9.7

			10.1

			Finance leases

			13.5

			14.0

			Weighted-average discount rate:

			Operating leases

			4.1
			
			%

			3.9

			Finance leases

			4.8
			
			%

			4.9

During the three months ended December 31, 2024, the Company early terminated a lease due to a store relocation, and, as a result, the Company wrote off operating lease assets and liabilities of less than $0.1 million each and recorded a gain of less than $0.1 million. In the three months ended December 31, 2024 and 2023, the Company incurred impairment charges related to operating lease assets of less than $0.1 million, associated with an early store relocation and a store closure, and $0.1 million, associated with store closures, respectively.

Future lease payments under non-cancellable leases as of December 31, 2024 were as follows, dollars in thousands:

			Fiscal year 

			Operating

			leases

			Finance 

			leases

			Total

			Remainder of 2025

			$
			35,397

			4,540

			39,937

			2026

			45,115

			6,093

			51,208

			2027

			43,693

			6,138

			49,831

			2028

			40,887

			5,053

			45,940

			2029