Company: SXI
Filing Date: 2025-08-04
Form Type: 10-K
Source: 0001437749-25-024450
Chunk: 435

Company: STANDEX INTERNATIONAL CORP/DE/
Filing Date: 2025-08-04
Form: 10-K
Item: Item 3
Chunk 435
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verage Ratio- The Company’s ratio of funded debt to trailing twelve month Adjusted EBITDA per the Credit Facility, calculated as Adjusted EBIT per the Credit Facility plus depreciation and amortization,  may not exceed 3.5:1. Under certain circumstances in connection with a Material Acquisition (as defined in the Facility), the Facility allows for the leverage ratio to go as high as 4.0:1 for a four-fiscal quarter period. At  June 30, 2025, the Company’s Leverage Ratio was 2.60:1. Our primary sources of cash for these requirements are cash flows from continuing operations and borrowings under the facility. 
     
    At  June 30, 2025, the effective rate of interest on the outstanding borrowings was 6.38%. 

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   9. Accrued LIABILITIES
    
   Accrued liabilities recorded in our consolidated balance sheets at  June 30, 2025 and 2024 consist of the following (in thousands):

       2025    2024  
 Payroll and employee benefits  $24,804  $26,657 
 Operating lease current liability   11,129   8,289 
 Accrued interest   3,152   864 
 Accrued taxes payable   2,662   1,566 
 Warranty reserves   2,483   2,209 
 Professional fees   2,304   2,367 
 Restructuring costs   1,457   1,447 
 Workers' compensation   1,245   1,135 
 Contingent consideration   330   330 
 Other   13,638   11,834 
 Total  $63,204  $56,698 

   10. Derivative Financial Instruments
    
   Interest Rate Swaps
    
   The fair value of the swaps recognized in accrued liabilities and in other comprehensive income (loss) is as follows (in thousands):

     Effective Date   Notional    Fixed   Maturity   Fair Value at June 30,  
   Amount    Interest Rate     2025    2024  
 February 23, 2023   100,000   0.86%   March 23, 2025  $-  $3,