Company: NGVC
Filing Date: 2025-02-06
Form Type: 10-Q
Source: 0001437749-25-003026
Chunk: 64

Company: Natural Grocers by Vitamin Cottage, Inc.
Filing Date: 2025-02-06
Form: 10-Q
Item: Part I, Item 8
Chunk 64
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 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

			36,549

			3,905

			40,454

			Thereafter

			155,382

			37,026

			192,408

			Total future undiscounted lease payments

			357,023

			62,755

			419,778

			Less imputed interest

			(64,998
			
			)

			(16,548
			
			)

			(81,546
			
			)

			Total reported lease liability

			292,025

			46,207

			338,232

			Less current portion

			(35,974
			
			)

			(4,012
			
			)

			(39,986
			
			)

			Noncurrent lease liability

			$
			256,051

			42,195

			298,246

The table above excludes $5.9 million of legally binding minimum lease payments for leases that had been executed as of December 31, 2024 but whose terms had not yet commenced.

8. Property and Equipment

The Company had the following property and equipment balances as of December 31, 2024 and September 30, 2024, dollars in thousands:

			As of

			Useful lives
			(in years)

			December 31,

			2024

			September 30,

			2024

			Construction in process

			 n/a

			$
			7,118

			5,758

			Land

			 n/a