National Vision Holdings Inc
For the period ended Jun 29, 2024. Filed Aug 7, 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.
Jun 29, 2024 · Filed Aug 7, 2024
EYE$18.97+6.0%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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10. Leases
- Leases
Our lease costs for the three and six months ended June 29, 2024 and July 1, 2023 were as follows:
| Three Months Ended | Six Months Ended | |||
|---|---|---|---|---|
| In thousands | June 29, 2024 | July 1, 2023 | June 29, 2024 | July 1, 2023 |
| Operating lease cost | ||||
| Fixed lease cost (a) | $25,741 | $23,939 | $51,073 | $47,059 |
| Variable lease cost (b) | 9,545 | 9,051 | 18,804 | 17,943 |
| Sublease income (c) | (334) | (309) | (665) | (625) |
| Finance lease cost | ||||
| Amortization of finance lease assets | 582 | 894 | 1,241 | 1,750 |
| Interest on finance lease liabilities | 316 | 440 | 648 | 889 |
| Net lease cost | $35,850 | $34,015 | $71,101 | $67,016 |
| (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 | Six Months Ended | |
|---|---|---|
| Other Information | June 29, 2024 | July 1, 2023 |
| Operating cash outflows - operating leases | $55,615 | $59,035 |
| Right of use assets acquired under operating leases | $53,664 | $59,929 |
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