Company: KEQU
Filing Date: 2025-12-12
Form Type: 10-Q
Source: 0000055529-25-000054
Chunk: 21

Company: KEWAUNEE SCIENTIFIC CORP /DE/
Filing Date: 2025-12-12
Form: 10-Q
Item: Part I, Item 1
Chunk 21
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($ in thousands)Estimated Useful LifeGross Carrying AmountAccumulated AmortizationNet Book ValueCustomer relationships10 years$9,800 $(980)$8,820 Trade names and trademarksindefinite4,900 — 4,900 Developed technology7 years3,900 (557)3,343 Total$18,600 $(1,537)$17,063 

11

April 30, 2025($ in thousands)Estimated Useful LifeGross Carrying AmountAccumulated AmortizationNet Book ValueCustomer relationships10 years$9,800 $(490)$9,310 Trade names and trademarksindefinite4,900 — 4,900 Developed technology7 years3,900 (279)3,621 Total$18,600 $(769)$17,831 Expected future amortization expense related to intangible assets, net as of October 31, 2025, excluding trade names and trademarks, are as follows:

($ in thousands)Remainder of fiscal 2026$769 20271,537 20281,537 20291,537 20301,537 Thereafter5,246 Total$12,163  

H. Long-term Debt and Other Credit Arrangements

The components of the Company's long-term debt at October 31, 2025 and April 30, 2025, excluding lease, deferred financing costs of $0.7 million and $0.8 million related to the debt at each respective date, and sale-leaseback-related activity, as presented on the Condensed Consolidated Balance Sheet were as follows:($ in thousands)October 31, 2025April 30, 2025PNC Loan Agreement$12,250 $13,750 Seller Notes23,000 23,935 Total long-term debt$35,250 $37,685 Current portion of long-term debt$3,000 $3,000 Non-current portion of long-term debt32,250 34,685 Total long-term debt$35,250 $37,685 See Note J, Leases, for more information on any long-term debt related to the Company's lease portfolio and Note I, Sale-Leaseback Financing Transaction, for more information on any long-term debt related to the Company's sale-leaseback financing transaction.PNC Loan AgreementAs noted in Note C, Nu Aire Acquisition