Company: KEQU
Filing Date: 2025-12-12
Form Type: 10-Q
Source: 0000055529-25-000054
Chunk: 20

Company: KEWAUNEE SCIENTIFIC CORP /DE/
Filing Date: 2025-12-12
Form: 10-Q
Item: Part I, Item 1
Chunk 20
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557 Total$2,488 $1,557 $4,045 Financial LiabilitiesNon-qualified compensation plans (2)$— $4,545 $4,545 Total$— $4,545 $4,545  April 30, 2025Financial AssetsLevel 1Level 2TotalTrading 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 (1)The Company maintains two non-qualified compensation plans which include investment assets in a rabbi trust. These assets consist of marketable securities, which are valued using quoted market prices multiplied by the number of shares owned, and life insurance policies, which are valued at their cash surrender value.(2)Plan liabilities are equal to the individual participants' account balances and other earned retirement benefits.

G. Goodwill and Other Intangible Assets

In connection with the Nu Aire Acquisition, on November 1, 2024, the Company recorded goodwill of $14.2 million on its Condensed Consolidated Balance Sheet. During the year ended April 30, 2025, the Company recorded a $1.8 million measurement period adjustment to increase inventory as a result of revised capitalized variances related to work-in-progress as of the acquisition date, with a corresponding decrease to Goodwill, net of the tax impact. See Note C, Nu Aire Acquisition for additional information. No impairment losses on goodwill were recorded during the six months ended October 31, 2025. The ending balance of goodwill at October 31, 2025 and April 30, 2025 was approximately $12.5 million.Also in connection with the Nu Aire Acquisition, the Company recorded other intangible assets on November 1, 2024 of $18.6 million on its Condensed Consolidated Balance Sheet. See Note C, Nu Aire Acquisition for additional information. The gross carrying amount and accumulated amortization of the Company's intangible assets other than goodwill as of October 31, 2025 and April 30, 2025 were as follows:October 31, 2025