Company: NGVC
Filing Date: 2025-12-11
Form Type: 10-K
Source: 0001437749-25-037556
Chunk: 661

Company: Natural Grocers by Vitamin Cottage, Inc.
Filing Date: 2025-12-11
Form: 10-K
Item: Item 8
Chunk 661
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128

			3,746

			Pre-opening expenses

			69

			185

			446

			Interest on lease liabilities:

			Interest expense, net

			2,192

			2,052

			1,837

			Pre-opening expenses

			—

			225

			482

			Short-term lease cost

			Store expenses

			3,308

			3,333

			3,071

			Variable lease cost

			Cost of goods sold and occupancy costs (1)

			7,149

			6,658

			6,429

			Sublease income

			Store expenses

			(443
			
			)

			(308
			
			)

			(323
			
			)

			Total lease cost

			$
			62,042

			61,514

			60,516

(1) Immaterial balances related to corporate headquarters and distribution center are included in administrative expenses and store expenses, respectively.

Additional information related to the Company’s leases for the years ended September 30, 2025, 2024 and 2023 was as follows, dollars in thousands:

			Year ended September 30,

			2025

			2024

			2023

			Cash paid for amounts included in the measurement of lease liabilities:

			Operating cash flows from operating leases

			$
			46,188

			45,992

			45,661

			Operating cash flows from finance leases

			2,192

			2,277

			2,320

			Financing cash flows from finance leases

			3,825

			3,610

			2,779

			Lease assets obtained in exchange for new lease liabilities:

			Operating leases

			18,412

			22,317

			15,274

			Finance leases

			7,419

			(45
			)

			5,724

Additional information related to the Company’s leases as of September 30, 2025 and 2024 was as follows:

			As of September 30,

			2025

			2024

			Weighted-average remaining lease term (in years):

			Operating leases

			9.3