Company: KEQU
Filing Date: 2025-03-14
Form Type: 10-Q
Source: 0000055529-25-000013
Chunk: 31

Company: KEWAUNEE SCIENTIFIC CORP /DE/
Filing Date: 2025-03-14
Form: 10-Q
Item: Part I, Item 1
Chunk 31
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 the leases within 1 year. Operating lease expenses were $1,306,000 and $3,066,000 for the three and nine months ended January 31, 2025, inclusive of period cost for short-term leases, not included in lease liabilities, of $264,000 and $691,000. Operating lease expenses were $862,000 and $2,576,000 for the three and nine months ended January 31, 2024, inclusive of period cost for short-term leases, not included in lease liabilities, of $214,000 and $646,000. At January 31, 2025, the weighted average remaining lease term for the capitalized operating leases was 4.2 years and the weighted average discount rate was 6.2%. For the financing leases, the weighted average remaining lease term was 4.4 years and the weighted average discount rate was 8.6%. As most of the Company's leases do not provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at commencement date in determining the present value of those lease payments. The Company uses the implicit rate when readily determinable. 

14

Future minimum lease payments under non-cancelable leases as of January 31, 2025 were as follows:($ in thousands)OperatingFinancingRemainder of fiscal 2025$1,034 $18 20263,904 112 20273,371 40 20282,490 40 20292,134 40 Thereafter1,794 55 Total Minimum Lease Payments14,727 305 Imputed Interest(1,782)(53)Total$12,945 $252 

K. Stockholders' Equity

Common StockThe Company is authorized to issue 5,000,000 shares of Common Stock, par value of $2.50 per share. Holders of the Company's Common Stock are entitled to one vote per share. As of January 31, 2025 and April 30, 2024, there were approximately 2,872,000 and 2,839,000 shares, respectively, of Common Stock outstanding. The Company has not declared or paid any dividends with respect to its Common Stock during the three and nine months ended January 31, 2025. The declaration and payment of any future dividends is at the discretion of the Board of Directors and will depend upon many factors, including the Company's earnings, capital requirements, investment and