Company: HEI-A
Filing Date: 2025-05-29
Form Type: 10-Q
Source: 0000046619-25-000046
Chunk: 15

Company: HEICO CORP
Filing Date: 2025-05-29
Form: 10-Q
Item: Item 1
Chunk 15
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 continues to be owned by certain members of Millennium’s management team.  See Note 3, Selected Financial Statement Information - Redeemable Noncontrolling Interests, for additional information.  The total consideration includes an accrual of $11.5 million as of the acquisition date representing the estimated fair value of contingent consideration the Company may be obligated to pay should Millennium meet a certain earnings objective following the acquisition.  See Note 8, Fair Value Measurements, for additional information regarding the Company’s contingent consideration obligation.  The purchase price of this acquisition was principally paid in cash using proceeds from the Company's revolving credit facility and cash provided by operating activities, as well as through the issuance of 53,186 shares of HEICO Class A Common Stock and is not material or significant to the Company's condensed consolidated financial statements.In April 2025, the Company, through a subsidiary of HEICO Electronic, acquired 100% of the membership interests of Rosen Aviation, LLC ("Rosen").  Rosen designs and manufactures in-flight entertainment products, principally in-cabin displays and control panels, for the business and aviation markets.  The purchase price of this acquisition was paid in cash using cash provided by operating activities and is not material or significant to the Company's condensed consolidated financial statements.The allocation of the total consideration for the fiscal 2025 acquisitions to the tangible and identifiable intangible assets acquired and liabilities and noncontrolling interests assumed is preliminary until the Company obtains final information regarding their fair values.  However, the Company does not expect any adjustment to such allocation to be material to the Company's consolidated financial statements.  The operating results of the fiscal 2025 acquisitions were included in the Company’s results of operations as of each effective acquisition date.  The amount of net sales and earnings of the fiscal 2025 acquisitions included in the Condensed Consolidated Statement of Operations for the six and three months ended April 30, 2025 is not material.  Had the fiscal 2025 acquisitions occurred as of November 1, 2023, net sales, net income from consolidated operations, net income attributable to HEICO, and basic and diluted net income per share attributable to HEICO shareholders on a pro forma basis for the six and three months ended April 30, 2025 and 2024 would not have been materially different than the reported amounts.

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3.     SELECTED FINANCIAL STATEMENT INFORMATION

Accounts Receivable(in thousands)April 30, 2025October 31, 2024Accounts