National Vision Holdings Inc
For the period ended Mar 30, 2024. Filed May 8, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 30, 2024 · Filed May 8, 2024
EYE$18.97+6.0%Stored close · as of Nov 9, 2026
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10. Leases
- Leases
Our lease costs for the three months ended March 30, 2024 and April 1, 2023 were as follows:
| Three Months Ended | ||
|---|---|---|
| In thousands | March 30, 2024 | April 1, 2023 |
| Operating lease cost | ||
| Fixed lease cost (a) | $25,548 | $23,422 |
| Variable lease cost (b) | 9,344 | 8,971 |
| Sublease income (c) | (591) | (757) |
| Finance lease cost | ||
| Amortization of finance lease assets | 659 | 857 |
| Interest on finance lease liabilities | 332 | 449 |
| Net lease cost | $35,292 | $32,942 |
| (a) Includes short-term leases, which are immaterial. | ||
| (b) Includes costs for insurance, real estate taxes and common area maintenance expenses, which are variable as well as lease costs above minimum thresholds for Fred Meyer stores and lease costs for Military stores. | ||
| (c) Income from sub-leasing of stores includes rental income from leasing space to independent optometrists. | ||
| In thousands | Three Months Ended | |
|---|---|---|
| Other Information | March 30, 2024 | April 1, 2023 |
| Operating cash outflows - operating leases | $27,700 | $33,533 |
| Right of use assets acquired under operating leases | $27,346 | $28,643 |
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