Company: NGVC
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001437749-25-025419
Chunk: 21

Company: Natural Grocers by Vitamin Cottage, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 8
Chunk 21
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	4.0

			Finance leases

			4.9
			
			%

			4.8

During the nine months ended June 30, 2025, 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. During the nine months ended June 30, 2024, the Company paid $0.3 million to early terminate the operating lease associated with a closed store, and, as a result, the Company wrote off $0.4 million of operating lease assets and $0.6 million of operating lease liabilities and recorded a loss of $0.2 million. In addition, during the nine months ended June 30, 2025, the Company recorded impairment charges related to operating lease assets of $0.1 million, associated with store closures and an early store relocation, and during the three and nine months ended June 30, 2024, the Company recorded impairment charges related to operating lease assets of $0.4 million, associated with a store closure and an early store relocation, and $0.5 million, associated with store closures and an early store relocation, respectively.

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

			Fiscal year 

			Operating 

			leases

			Finance 

			leases

			Total

			Remainder of 2025

			$
			11,930

			1,515

			13,445

			2026

			47,172

			6,289

			53,461

			2027

			46,000

			6,364

			52,364

			2028

			43,322

			5,279

			48,601

			2029

			39,000

			4,131

			43,131

			Thereafter

			162,650

			42,419

			205,069

			Total future undiscounted lease payments

			350,074

			65,997

			416,071

			Less imputed interest

			(62,922
			
			)

			(18,