Leases |
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| Leases [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Leases | Leases The Company leases retail, office, optical laboratory, and distribution center space under operating leases from third parties. As of March 31, 2025, the total lease terms of the various leases range from 1 to 12 years. The leases generally contain renewal options and rent escalation clauses, and from time to time include contingent rent provisions. Renewal options are exercisable at the Company’s sole discretion and are included in the lease term if they are reasonably certain to be exercised. In general it is not reasonably certain that lease renewals will be exercised at lease commencement and as such, lease renewals are not included in the lease term. Net lease expense consists of the following:
(1) Variable lease expense primarily consists of contingent rent. The following table presents future lease payments:
(1) The years 2025 and 2026 include $12.0 million and $4.0 million of expected cash inflows from tenant improvement allowances. Operating lease payments exclude $7.0 million of legally binding minimum lease payments related to executed leases for which the Company has not yet taken possession of the leased premises. The following tables present other relevant lease information:
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