Company: HEI-A
Filing Date: 2025-02-28
Form Type: 10-Q
Source: 0000046619-25-000015
Chunk: 8

Company: HEICO CORP
Filing Date: 2025-02-28
Form: 10-Q
Item: Item 1
Chunk 8
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 noncontrolling interests(8,467)— — — — — — — (299)(299)Acquisitions of noncontrolling interests(1,056)— — (1,156)— — — — — (1,156)Adjustments to redemption amount of redeemable noncontrolling interests1,443 — — — — — — (1,443)— (1,443)Other1,142 — — (873)— — — (280)— (1,153)Balances as of January 31, 2024$365,865 $548 $836 $585,888 $6,318 ($6,318)($25,962)$2,705,128 $50,201 $3,316,639 

The accompanying notes are an integral part of these condensed consolidated financial statements.

5

HEICO CORPORATION AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - UNAUDITED

(in thousands)

Three months ended January 31,20252024Operating Activities:Net income from consolidated operations$181,566 $125,482 Adjustments to reconcile net income from consolidated operations to net cash provided by operating activities:Depreciation and amortization46,225 43,505 Employer contributions to HEICO Savings and Investment Plan5,473 5,665 Share-based compensation expense4,671 4,881 Increase in accrued contingent consideration, net 3,288 1,095 Deferred income tax benefit(7,052)(3,759)Payment of contingent consideration(2,190)(6,203)Changes in operating assets and liabilities, net of acquisitions:Decrease in accounts receivable20,062 38,940 (Increase) decrease in contract assets(5,949)4,560 Increase in inventories(36,207)(49,846)Increase in prepaid expenses and other current assets(955)(15,784)Increase (decrease) in trade accounts payable10,389 (11,609)Decrease in accrued expenses and other current liabilities(63,898)(50,450)Increase in income taxes payable16,887 12,345 Net changes in other long-term liabilities and assets related to HEICO Leadership Compensation Plan13,022 14,753 Other17,702