Company: NGVC
Filing Date: 2025-12-11
Form Type: 10-K
Source: 0001437749-25-037556
Chunk: 662

Company: Natural Grocers by Vitamin Cottage, Inc.
Filing Date: 2025-12-11
Form: 10-K
Item: Item 8
Chunk 662
---
	9.9

			Finance leases

			15.1

			13.6

			Weighted-average discount rate:

			Operating leases

			4.2
			
			%

			4.1

			Finance leases

			5.1
			
			%

			4.8

During the year ended September 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 years ended September 30, 2024 and 2023, the Company paid $0.3 million and $0.2 million in lease termination costs, respectively, to early terminate the leases associated with stores that closed in prior fiscal years, and, as a result, the Company wrote off $0.4 million and $0.1 million in operating lease assets and $0.6 million and $0.2 million in operating lease liabilities and recorded losses of $0.2 million and $0.1 million during the years ended September 30, 2024 and 2023, respectively.

In addition, during the year ended September 30, 2025, the Company purchased a store’s previously leased land and building. This resulted in reductions of $0.2 million and $1.0 million in operating and finance lease liabilities with the offset to their related lease assets, respectively, and the reclassification of less than $(0.1) million and $(0.1) million of operating and finance lease assets, as adjusted by the 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

			203