Company: NGVC
Filing Date: 2025-12-11
Form Type: 10-K
Source: 0001437749-25-037556
Chunk: 549

Company: Natural Grocers by Vitamin Cottage, Inc.
Filing Date: 2025-12-11
Form: 10-K
Item: Item 6
Chunk 549
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airment of Long-Lived Assets 

Long-lived assets, such as property and equipment, lease assets, and intangible and other assets subject to amortization, are reviewed for impairment at least annually, and whenever events or changes in circumstances indicate that the carrying amount of the assets may not be recoverable. The Company assesses the recoverability of the property and equipment and lease assets at the individual store level, and the intangible and other assets subject to amortization at the consolidated entity level. If the carrying value of such assets over their respective remaining lives is not recoverable through projected undiscounted future cash flows, the Company measures the amount of impairment based on either: (i) discounted future cash flows; (ii) an appropriate third-party market appraisal; or (iii) other valuation technique. In performing these analyses, the Company considers factors such as historic and forecasted operating results, trends and future prospects, current market values, significant industry trends, and other economic and regulatory factors.

As of September 30, 2025 and 2024, the Company had property and equipment assets of $182.7 million and $178.6 million, respectively, operating lease assets of $259.6 million and $275.1 million, respectively, finance lease assets of $42.9 million and $40.8 million, respectively, intangible assets subject to amortization of $6.2 million and $7.9 million, respectively, and other assets subject to amortization of $5.1 million and $0.2 million, respectively. In fiscal years 2025, 2024 and 2023, the Company concluded, as a result of its review for potential long-lived asset impairments, that certain long-lived assets were impaired. The Company recorded asset impairments of $0.1 million, $2.2 million and $1.3 million for the years ended September 30, 2025, 2024 and 2023, respectively.

8. Other Assets

Other assets as of September 30, 2025 and 2024, are summarized as follows, dollars in thousands:

			Useful lives

			As of September 30,

			(in years)

			2025

			2024

			Amortizable other assets:

			SaaS implementation costs

			3
			–
			7

			$
			5,150

			171

			Less accumulated amortization

			(7