Company: KEQU
Filing Date: 2025-09-12
Form Type: 10-Q
Source: 0000055529-25-000040
Chunk: 25

Company: KEWAUNEE SCIENTIFIC CORP /DE/
Filing Date: 2025-09-12
Form: 10-Q
Item: Part I, Item 1
Chunk 25
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 inclusive of period cost for short-term leases, not included in lease liabilities, of $224,000. At July 31, 2025, the weighted average remaining lease term for the capitalized operating leases was 3.9 years and the weighted average discount rate was 6.2%. For the financing leases, the weighted average remaining lease term was 4.1 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. 

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Future minimum lease payments under non-cancelable leases as of July 31, 2025 were as follows:($ in thousands)OperatingFinancingRemainder of fiscal 2026$2,843 $94 20273,345 40 20282,462 40 20292,108 40 20301,630 40 Thereafter160 22 Total Minimum Lease Payments12,548 276 Imputed Interest(1,403)(45)Total$11,145 $231 In April 2025, the Company entered into a new lease that has not yet commenced as of July 31, 2025 with future minimum lease payments in aggregate of roughly $267,000 that are not yet reflected on the Condensed Consolidated Balance Sheet. This lease is expected to commence in the second quarter of fiscal year 2026 with a lease term of 5 years. Subsequent to July 31, 2025, the Company entered into a new lease with future minimum lease payments in aggregate of roughly $477,000 that are not yet reflected on the Condensed Consolidated Balance Sheet. This lease will commence in the second quarter of fiscal year 2026 with a lease term of 1 year.

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 July 31, 2025 and April 30, 2025, there were approximately 2,865,000 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 months ended July