Company: HEI-A
Filing Date: 2025-08-27
Form Type: 10-Q
Source: 0000046619-25-000062
Chunk: 46

Company: HEICO CORP
Filing Date: 2025-08-27
Form: 10-Q
Item: Item 8
Chunk 46
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 at fair value on a recurring basis are set forth by level within the fair value hierarchy in the following tables (in thousands):As of July 31, 2025Quoted Prices in Active Markets for Identical Assets (Level 1)Significant Other Observable Inputs(Level 2)Significant Unobservable Inputs(Level 3)TotalAssets:Deferred compensation plan:Corporate-owned life insurance$— $354,823 $— $354,823 Money market fund7,370 — — 7,370 Total assets$7,370 $354,823 $— $362,193 Liabilities:Contingent consideration $— $— $42,252 $42,252 As of October 31, 2024Quoted Prices in Active Markets for Identical Assets (Level 1)Significant Other Observable Inputs(Level 2)Significant Unobservable Inputs(Level 3)TotalAssets:Deferred compensation plan:Corporate-owned life insurance$— $313,794 $— $313,794 Money market fund3,365 — — 3,365 Total assets$3,365 $313,794 $— $317,159 Liabilities:Contingent consideration$— $— $30,207 $30,207 The Company maintains the HEICO Corporation Leadership Compensation Plan (the "LCP"), which is a non-qualified deferred compensation plan.  The assets of the LCP principally represent cash surrender values of life insurance policies, which derive their fair values from investments in mutual funds that are managed by an insurance company, and are classified within Level 2 and valued using a market approach.  Certain other assets of the LCP represent an investment in a money market fund that is classified within Level 1.  The assets of the LCP are held within an irrevocable trust and classified within other assets in the Company’s Condensed Consolidated Balance Sheets.  The related liabilities of the LCP are included within other long-term liabilities and accrued expenses and other current liabilities in the Company’s Condensed Consolidated Balance Sheets and have an aggregate value of $364.2 million as of July 31, 2025 and $315.0 million as of October 31, 2024.

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As part of the agreement to acquire 90% of the membership interests of a subsidiary by the FSG in fiscal 2025, the Company may