Company: NGVC
Filing Date: 2025-12-11
Form Type: 10-K
Source: 0001437749-25-037556
Chunk: 618

Company: Natural Grocers by Vitamin Cottage, Inc.
Filing Date: 2025-12-11
Form: 10-K
Item: Item 7A
Chunk 618
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 for the years ended September 30, 2025, 2024 and 2023. The Company did not utilize any tax effected state income tax loss carryforwards for the years ended September 30, 2025, 2024 and 2023.

The Company did not have any uncertain tax positions as of September 30, 2025 and 2024.

The Company files income tax returns with federal, state and local tax authorities. With limited exceptions, the Company is no longer subject to federal income tax examinations for fiscal years 2021 and prior and is no longer subject to state and local income tax examinations for fiscal years 2020 and prior.

17. Defined Contribution Plan

The Company has a defined contribution retirement plan (the Retirement Plan) covering substantially all employees who meet certain eligibility requirements as to age and length of service. The Retirement Plan incorporates the salary deferral provisions of Section 401(k) of the Internal Revenue Code of 1986, as amended (the Code). Employees may defer up to the annual maximum limit prescribed by the Code. The Company, on a discretionary basis, may match up to 25% of participant contributions up to a maximum annual employer match of $2,500. As of September 30, 2025, the Company had accrued $1.1 million for matching contributions to be paid out after the plan year ending December 31, 2025. Subsequent to plan years ended December 31, 2024 and 2023, the Company funded matching contributions to participants’ accounts of $1.4 million and $1.3 million, respectively.

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18. Segment Reporting

The Company has one operating segment, and therefore, a single reportable segment: natural and organic retail stores. This segment derives all of its revenue from the sale of grocery, dietary supplements, body care and other products at the Company’s stores located in the United States. The accounting policies of this segment are the same as those described in the Company's summary of significant accounting policies. The Company's chief operating decision maker (CODM) is its Co-President and Chairman of the Board. The CODM uses the segment's net income to assess performance against budget, make key operating decisions, and allocate capital resources, including the rate at which to invest in new or relocated stores. The measure of the segment’s assets is reported on the consolidated balance sheet as total assets and its depreciation and amortization expense is reported in Note 6, Property and Equipment.

The following table represents the