Company: KEQU
Filing Date: 2025-07-02
Form Type: 10-K
Source: 0000055529-25-000026
Chunk: 261

Company: KEWAUNEE SCIENTIFIC CORP /DE/
Filing Date: 2025-07-02
Form: 10-K
Item: Item 8
Chunk 261
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Non-current liabilities$— Amounts Recognized in Accumulated Other Comprehensive Income (Loss) Consist of:Net actual loss$— Deferred tax benefit— After-tax actuarial loss$— Weighted-Average Assumptions Used to Determine Benefit Obligations at April 30Discount rateN/ARate of compensation increaseN/AMortality tableN/AProjection scaleN/AWeighted-Average Assumptions Used to Determine Net Periodic Benefit Cost2024Discount rateN/AExpected long-term return on plan assetsN/ARate of compensation increaseN/AThe components of the net periodic pension (income) expense for the fiscal year ended April 30, 2024 are as follows:$ in thousandsInterest cost$890 Expected return on plan assets(1,312)Recognition of net loss580 Net periodic pension expense$158 Effect of settlement4,019 Total net periodic pension expense plus special events$4,177 

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Defined Contribution PlanThe Company has two defined contribution plans covering substantially all domestic salaried and hourly employees. These plans provides benefits to all employees who meet minimum age and service requirements. The Company's plans provide for matching contributions based on a percentage of the employee's eligible contributions. Total matching contributions made by the Company for these plans were $1,177,000 and $957,000 for the years ending April 30, 2025 and 2024.The Company's International subsidiaries also have a defined contribution plan for qualifying employees. Under the International plan, employer contributions are made in accordance with plan rules. Total contributions made by the Company for its International plan was $247,000 and $238,000 for the years ending April 30, 2025 and 2024.

Note 14 - Segment Information

In accordance with ASC 280, Segment Reporting, the Company's operations are classified into two business segments: Domestic and International. The Domestic business segment principally designs, manufactures, and installs scientific and technical furniture, including steel and wood laboratory cabinetry, fume hoods, flexible systems, worksurfaces, workstations, workbenches, and computer enclosures. On November 1, 2024, the Company completed its acquisition of Nu Aire, whose operating results are reflected in the Domestic operations segment, expanding the Company's Domestic capabilities through its manufacturing of biological safety cabinets, CO2 incubators, ultralow freezers, and other essential laboratory products. See Note 4, Nu Aire Acquisition, for further information.The International