Company: HEI-A
Filing Date: 2025-02-28
Form Type: 10-Q
Source: 0000046619-25-000015
Chunk: 24

Company: HEICO CORP
Filing Date: 2025-02-28
Form: 10-Q
Item: Item 1
Chunk 24
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31,175 Operating income136,091 55,328 (11,209)180,210 Capital expenditures6,732 6,174 471 13,377 (1)  Intersegment activity principally consists of net sales from the ETG to the FSG.Total assets by operating segment are as follows (in thousands):Other, Primarily CorporateConsolidated TotalsSegmentFSGETGTotal assets as of January 31, 2025$4,523,480 $2,961,755 $405,476 $7,890,711 Total assets as of October 31, 20244,264,360 2,981,326 347,136 7,592,822 

11.     COMMITMENTS AND CONTINGENCIES

GuaranteesAs of January 31, 2025, the Company has arranged for standby letters of credit aggregating $10.0 million, which are supported by its revolving credit facility and principally pertain to performance guarantees related to customer contracts entered into by certain of the Company's subsidiaries as well as a payment guarantee related to potential workers' compensation claims.

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Product WarrantyChanges in the Company’s product warranty liability for the three months ended January 31, 2025 and 2024 are as follows (in thousands):Three months ended January 31,20252024Balances as of beginning of fiscal year$4,036 $3,847 Accruals for warranties592 790 Acquired warranty liabilities100 — Warranty claims settled(697)(834)Balances as of January 31$4,031 $3,803 LitigationThe Company is involved in various legal actions arising in the normal course of business.  Based upon the Company’s and its legal counsel’s evaluations of any claims or assessments, management is of the opinion that the outcome of these matters will not have a material adverse effect on the Company’s results of operations, financial position or cash flows.

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