Company: SXI
Filing Date: 2025-08-04
Form Type: 10-K
Source: 0001437749-25-024450
Chunk: 1222

Company: STANDEX INTERNATIONAL CORP/DE/
Filing Date: 2025-08-04
Form: 10-K
Item: Item 1A
Chunk 1222
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$(42) $(517) $(161)

       57

   20. LEASES
    
   In the normal course of its business, the Company enters into various leases as the lessee, primarily related to certain transportation vehicles, facilities, office space, and machinery and equipment. These leases have remaining lease terms between one and fifty-five years, some of which  may include options to extend the leases or options to terminate the leases. Some lease arrangements require variable payments that are dependent on usage, output, or index-based adjustments. 
    
   Amounts recorded in the Company's Consolidated Balance Sheet and Statement of Operations related to leases are as follows (in thousands):

       June 30, 2025    June 30, 2024  
 Assets         
 Operating lease right-of-use-asset  $47,998  $37,078 
         
 Liabilities         
 Current accrued liabilities  $11,129  $8,289 
 Operating lease long-term liabilities   40,057   30,725 
 Total lease liability  $51,186  $39,014 

   Lease cost
    
   The components of lease costs are as follows (in thousands):

       Year Ended    Year Ended  
   June 30, 2025    June 30, 2024  
 Operating lease cost  $13,745  $11,477 
 Variable lease cost   1,274   1,270 
 Net lease cost  $15,019  $12,747 

   Maturity of lease liability
    
   The maturity of the Company's lease liabilities included in continuing operations at  June 30, 2025 were as follows (in thousands):

       Operating Leases  
 2026  $13,097 
 2027   11,251 
 2028   8,850 
 2029   6,777 
 2030   4,624 
 After 2030   16,060 
 Less: interest   (9,473)
 Present value of lease liabilities  $51,186 

   The weighted average remaining lease term and discount rates are as follows:

     Lease Term and Discount Rate   June 30, 2025  
 Weighted average remaining lease term (years)   8.18