Company: SXI
Filing Date: 2025-08-04
Form Type: 10-K
Source: 0001437749-25-024450
Chunk: 1099

Company: STANDEX INTERNATIONAL CORP/DE/
Filing Date: 2025-08-04
Form: 10-K
Item: Item 6
Chunk 1099
---
 escrow and was net of closing cash. The Company recorded a pre-tax gain on sale of the business of $62.1 million in fiscal year 2023. The operating unit's goodwill balance of $0.2 million was written off as a part of the transaction. The sale transaction and financial results of Procon were classified as continuing operations in the Consolidated Financial Statements.
    
   During the first quarter of fiscal year 2024, the Company recorded an additional $0.3 million gain on the sale of the business due to cash received in the period related to closing cash adjustments. During the third quarter of fiscal year 2024, the company received $7.5 million of cash held in escrow, which was presented as an investing cash flow in fiscal year 2024.

   19. DISCONTINUED OPERATIONS
    
   In pursuing our business strategy, the Company continues to divest certain businesses and record activities of these businesses as discontinued operations.
    
   Activity related to discontinued operations for the most recent three fiscal years is as follows (in thousands):

       Year Ended June 30,  
   2025    2024    2023  
 (Loss) before taxes  $(53) $(654) $(204)
 Benefit for taxes   11   137   43 
 Net (loss) from discontinued operations  $(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  $