Company: NGVC
Filing Date: 2025-12-11
Form Type: 10-K
Source: 0001437749-25-037556
Chunk: 610

Company: Natural Grocers by Vitamin Cottage, Inc.
Filing Date: 2025-12-11
Form: 10-K
Item: Item 7A
Chunk 610
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 reduction of their related lease liabilities, respectively, to property and equipment.

74

Future lease payments under non-cancellable leases as of September 30, 2025 were as follows, dollars in thousands:

			Fiscal year 

			Operating 

			leases

			Finance 

			leases

			Total

			2026

			$
			47,430

			6,270

			53,700

			2027

			46,509

			6,508

			53,017

			2028

			43,831

			5,421

			49,252

			2029

			39,508

			4,273

			43,781

			2030

			34,804

			4,290

			39,094

			Thereafter

			132,296

			45,304

			177,600

			Total future undiscounted lease payments

			344,378

			72,066

			416,444

			Less imputed interest

			(62,080
			
			)

			(22,345
			
			)

			(84,425
			
			)

			Total reported lease liability

			282,298

			49,721

			332,019

			Less current portion

			(36,495
			
			)

			(4,061
			
			)

			(40,556
			
			)

			Noncurrent lease liability

			$
			245,803

			45,660

			291,463

The table above excludes $12.8 million of legally binding minimum lease payments for leases that had been executed as of September 30, 2025 but whose terms had not yet commenced.

Future minimum rental commitments and sublease rental income under the terms of the Company’s operating and finance leases were as follows as of September 30, 2025, dollars in thousands:

			Fiscal year 

			Third
			parties

			Related
			parties

			Sublease 

			rental 

			income

			Total
			leases

			2026

			$
			52,483

			1,217

			(462
			)

			53,238