Company: HEI-A
Filing Date: 2025-12-22
Form Type: 10-K
Source: 0000046619-25-000082
Chunk: 133

Company: HEICO CORP
Filing Date: 2025-12-22
Form: 10-K
Item: Item 8
Chunk 133
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 the noncontrolling interest holder has the right to cause the Company to purchase their equity interest beginning in fiscal 2029, or sooner under certain conditions, and the Company has the right to purchase the same equity interest over the same period.As discussed in Note 2, Acquisitions, the Company, through HEICO Electronic, acquired 93.69% of the common stock of Exxelia in January 2023.  During fiscal 2023 and 2024, a few nominal transactions between the Company and certain existing noncontrolling interest holders and members of Exxelia's management team resulted in a net decrease in the Company's ownership interest in the subsidiary to 90.69%.During fiscal 2022, the holder of a 19.9% noncontrolling equity interest in a subsidiary of the FSG that was acquired in fiscal 2017 exercised their option to cause the Company to purchase one-half of the noncontrolling interest in fiscal 2022 and the remaining one-half in fiscal 2024.  Accordingly, the Company acquired the remaining 9.95% equity interest in May 2024.The $5.8 million, $26.6 million and $2.7 million aggregate Redemption Amounts for the redeemable noncontrolling interests acquired in fiscal 2025, 2024 and 2023, respectively, were paid using cash provided by operating activities.

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14.    NET INCOME PER SHARE ATTRIBUTABLE TO HEICO SHAREHOLDERS

    The computation of basic and diluted net income per share attributable to HEICO shareholders is as follows (in thousands, except per share data):Year ended October 31,202520242023Numerator:Net income attributable to HEICO$690,385 $514,109 $403,596 Denominator:Weighted average common shares outstanding - basic139,048 138,455 137,185 Effect of dilutive stock options1,723 1,743 1,720 Weighted average common shares outstanding - diluted140,771 140,198 138,905 Net income per share attributable to HEICO shareholders:Basic$4.97 $3.71 $2.94 Diluted$4.90 $3.67 $2.91 Anti-dilutive stock options excluded545 707 1,281 

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15.    OPERATING SEGMENTS

    The Company has two