Company: KEQU
Filing Date: 2025-07-02
Form Type: 10-K
Source: 0000055529-25-000026
Chunk: 85

Company: KEWAUNEE SCIENTIFIC CORP /DE/
Filing Date: 2025-07-02
Form: 10-K
Item: Item 1A
Chunk 85
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 or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Expanded disclosures about instruments measured at fair value require the Company to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The fair value hierarchy is based on three levels of inputs, of which the first two are considered observable and the last unobservable, that may be used to measure fair value as follows:Level 1    Quoted prices in active markets for identical assets or liabilities as of the reporting date.Level 2    Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities as of the reporting date.Level 3    Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.

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The following tables summarize the Company's fair value hierarchy for its financial assets and liabilities measured at fair value on a recurring and nonrecurring basis as of April 30, 2025 and 2024 (in thousands):2025Level 1Level 2Level 3TotalFinancial AssetsTrading securities held in non-qualified compensation plans (1)$1,861 $— $— $1,861 Cash surrender value of life insurance policies (1)— 1,403 — 1,403 Total$1,861 $1,403 $— $3,264 Financial LiabilitiesNon-qualified compensation plans (2)$— $3,708 $— $3,708 Total$— $3,708 $— $3,708 2024Level 1Level 2Level 3TotalFinancial AssetsTrading securities held in non-qualified compensation plans (1)$1,565 $— $— $1,565 Cash surrender value of life insurance policies (1)— 1,077 — 1,077 Total$1,565 $1,077 $— $2,642 Financial LiabilitiesNon-qualified compensation plans (2)$— $3,009 $— $3,009 Total$— $3,009 $