Company: HEI-A
Filing Date: 2025-02-28
Form Type: 10-Q
Source: 0000046619-25-000015
Chunk: 31

Company: HEICO CORP
Filing Date: 2025-02-28
Form: 10-Q
Item: Item 8
Chunk 31
---
 total consideration to the tangible and identifiable intangible assets acquired and liabilities and noncontrolling interests assumed.  The Company estimates that $101 million of the goodwill acquired in fiscal 2025 will be deductible for income tax purposes.  Foreign currency translation adjustments are included in other comprehensive income (loss) in the Company's Condensed Consolidated Statements of Comprehensive Income.  The adjustments to goodwill represent immaterial measurement period adjustments to the allocation of the purchase consideration of certain fiscal 2024 acquisitions.

12

Identifiable intangible assets consist of the following (in thousands):As of January 31, 2025As of October 31, 2024Gross Carrying AmountAccumulated AmortizationNet Carrying AmountGross Carrying AmountAccumulated AmortizationNet Carrying AmountAmortizing Assets:Customer relationships$1,077,828 ($314,445)$763,383 $1,013,847 ($307,531)$706,316 Intellectual property523,823 (142,090)381,733 471,516 (137,188)334,328 Other8,573 (7,790)783 8,575 (7,708)867 1,610,224 (464,325)1,145,899 1,493,938 (452,427)1,041,511 Non-Amortizing Assets:Trade names300,717 — 300,717 293,263 — 293,263 $1,910,941 ($464,325)$1,446,616 $1,787,201 ($452,427)$1,334,774  The increase in the gross carrying amount of customer relationships, intellectual property and trade names as of January 31, 2025 compared to October 31, 2024 principally relates to such intangible assets recognized in connection with the fiscal 2025 acquisitions (see Note 2, Acquisitions).    Amortization expense related to intangible assets for the three months ended January 31, 2025 and 2024 was $32.2 million and $30.2 million, respectively.  Amortization expense related to intangible assets for the remainder of fiscal 2025 is estimated to be $102.7 million.  Amortization expense for each of the next five fiscal years and thereafter is estimated to be $131.7 million in fiscal