Company: HEI-A
Filing Date: 2025-12-22
Form Type: 10-K
Source: 0000046619-25-000082
Chunk: 67

Company: HEICO CORP
Filing Date: 2025-12-22
Form: 10-K
Item: Item 7
Chunk 67
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 or

•upon the sale or disposition of all or substantially all the property of such subsidiary guarantor (other than to any of our affiliates or another subsidiary guarantor);

provided, however, that, in each case, such transaction is permitted by the Credit Facility and after giving effect to such transaction, such subsidiary guarantor is no longer liable for any subsidiary guarantee or other obligations in respect of the Credit Facility.  The subsidiary guarantee of a subsidiary guarantor also will be released if we exercise our legal defeasance, covenant defeasance option or discharge the Indenture.

We conduct our operations almost entirely through our subsidiaries.  Accordingly, the Guarantor Group’s cash flow and ability to service any guaranteed registered debt securities will depend on the earnings of our subsidiaries and the distribution of those earnings to the Guarantor Group, including the earnings of the non-guarantor subsidiaries, whether by dividends, loans or otherwise.  Holders of the guaranteed registered debt securities will have a direct claim only against the Guarantor Group.

The following tables include summarized financial information for the Guarantor Group (in thousands).  The information for the Guarantor Group is presented on a combined basis, excluding intercompany balances and transactions between us and the Guarantor Group and excluding investments in and equity in the earnings of non-guarantor subsidiaries.  The Guarantor Group’s amounts due from, amounts due to, and transactions with non-guarantor subsidiaries have been presented in separate line items.  The consolidating schedules are provided in accordance with the reporting requirements of Rule 13-01 under SEC Regulation S-X for the issuer and guarantor subsidiaries.

As of October 31, 2025Current assets (excluding net intercompany receivable from non-guarantor subsidiaries)$1,927,805 Noncurrent assets 5,280,470 Net intercompany receivable from/ (payable to) non-guarantor subsidiaries260,672 Current liabilities (excluding net intercompany payable to non-guarantor subsidiaries)721,365 Noncurrent liabilities 2,751,782 Redeemable noncontrolling interests 337,818 Noncontrolling interests 63,792 

44

Year endedOctober 31, 2025Net sales $3,808,827 Gross profit 1,487,664 Operating income 879,170 Net income from consolidated operations739,571 Net income attributable to HEICO695,407 

Year endedOctober 31, 2025Intercompany net sales$