Goodwill and Other Intangible Assets

9 Months Ended

Jan. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

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. See Note C, Nu Aire Acquisition for additional information. No impairment losses on goodwill were recorded during the three months ended January 31, 2025. The ending balance of goodwill at January 31, 2025 was approximately $14.2 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 January 31, 2025 were as follows:


		January 31, 2025
($ in thousands)	Estimated Useful Life	Gross Carrying Amount		Accumulated Amortization		Net Book Value
Customer relationships	10 years	$	9,800	$	(245)	$	9,555
Trade names and trademarks	indefinite	4,900		—		4,900
Developed technology	7 years	3,900		(139)		3,761
Total		$	18,600	$	(384)	$	18,216

Expected future amortization expense related to intangible assets, net as of January 31, 2025, excluding trade names and trademarks, are as follows:


($ in thousands)
Remainder of fiscal 2025	$	384
2026	1,537
2027	1,537
2028	1,537
2029	1,537
Thereafter	6,784
Total	$	13,316

KEWAUNEE SCIENTIFIC CORP /DE/ 10-Q