Company: KEQU
Filing Date: 2025-07-02
Form Type: 10-K
Source: 0000055529-25-000026
Chunk: 187

Company: KEWAUNEE SCIENTIFIC CORP /DE/
Filing Date: 2025-07-02
Form: 10-K
Item: Item 1A
Chunk 187
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March 1 - 3131,148 $48.1531,148 101,642 April 1 - 301,039 $35.751,039 100,603 33,206 33,206 (1)      On August 31, 2023, the Board of Directors of Kewaunee Scientific Corporation (the "Company") adopted a share repurchase program with authorization to repurchase up to 100,000 shares of our Company's common stock, which commenced on September 1, 2023 and has no expiration date. On March 12, 2025, the Board of Directors amended the existing share repurchase program to authorize the repurchase of up to an additional 100,000 shares of the Company common stock (as amended, the "Program"). The share repurchase program is designed to help offset the impact of future share dilution from employee stock issuances. The timing and amount of any repurchases under this program will be determined by the Company's management at its discretion based upon its ongoing assessments of the capital needs of the business, the market price of the Company's common stock and general market conditions. Share repurchases under this program may be made through a variety of methods including open-market purchases, block trades, exchange transactions or any combination thereof. The program does not obligate the Company to acquire any particular amount of its common stock, and the share repurchase program may be suspended or discontinued at any time at the Company's discretion.(2)        Excludes other costs such as broker commissions and fees.

Note 11 - Accumulated Other Comprehensive Income (Loss)

The Company's other comprehensive income (loss) consists of unrealized gains and losses on the translation of the assets, liabilities, and equity of its foreign subsidiaries, and additional minimum pension liability adjustments, net of income taxes. The before tax income (loss), related income tax effect, and accumulated balances are as follows:$ in thousandsForeignCurrencyTranslationAdjustmentMinimumPensionLiabilityAdjustmentTotalAccumulatedOtherComprehensiveIncome (Loss)Balance at April 30, 2023$(2,833)$(609)$(3,442)Foreign currency translation adjustment(549)(49)(598)Change in unrecognized actuarial loss on pension obligations— 509 509 Settlement loss included in net income— 4,019 4,019 Income taxes on postretirement benefit plans— (3,870)(3,870)Balance at April 30