Company: KEQU
Filing Date: 2025-09-12
Form Type: 10-Q
Source: 0000055529-25-000040
Chunk: 55

Company: KEWAUNEE SCIENTIFIC CORP /DE/
Filing Date: 2025-09-12
Form: 10-Q
Item: Part I, Item 8
Chunk 55
---
— 771 Revenues (excluding intersegment) from customers in foreign countries2,767 16,752 — 19,519 Three Months Ended July 31, 2024Revenues from external customers$35,523 $12,870 $— $48,393 Intersegment revenues113 1,348 (1,461)— Depreciation and amortization662 107 46 815 Interest expense441 21 10 472 Earnings (loss) before income taxes3,635 787 (1,992)2,430 Income tax expense (benefit)764 279 (851)192 Net earnings attributable to non-controlling interest— 45 — 45 Net earnings (loss) attributable to Kewaunee Scientific Corporation2,871 463 (1,141)2,193 Segment assets90,235 41,783 — 132,018 Expenditures for segment assets196 82 — 278 Revenues (excluding intersegment) from customers in foreign countries525 12,870 — 13,395  

17

P. New Accounting Standards

In December 2023, the FASB issued ASU 2023-09, "Income Taxes (Topic 740) - Improvements for Income Tax Disclosures," which requires public business entities to, on an annual basis, (1) disclose specific categories in the rate reconciliation and (2) provide additional information for reconciling items that meet a quantitative threshold. This ASU also provides for additional disclosure requirements to provide clarity for investors related to income tax disclosures. This guidance is effective for annual periods beginning after December 15, 2024. The Company will adopt this standard in fiscal year 2026. The Company does not expect the adoption of this standard to have a significant impact on the Company's consolidated financial position or results of operations.In November 2024, the FASB issued ASU 2024-03, "Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40)," which requires public business entities to provide disclosure of additional information about certain identified costs and expenses on both an interim and annual basis. In January 2025, the FASB issued ASU 2025-01, "Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40); Clarifying the Effective Date