Company: HEI-A
Filing Date: 2025-12-22
Form Type: 10-K
Source: 0000046619-25-000082
Chunk: 106

Company: HEICO CORP
Filing Date: 2025-12-22
Form: 10-K
Item: Item 8
Chunk 106
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 Company common stock is recorded as a component of shareholders’ equity at cost and subsequent changes in fair value are not reflected in operations or shareholders’ equity of the Company.  Further, while the Company has no obligation to do so, the LCP also provides the Company the opportunity to make discretionary contributions.  The Company’s matching contributions and any discretionary contributions are subject to vesting and forfeiture provisions set forth in the LCP.  Company contributions to the LCP charged to income in fiscal 2025, 2024 and 2023 totaled $7.0 million, $11.1 million and $9.2 million, respectively.  The aggregate liabilities of the LCP were $385.7 million and $315.0 million as of October 31, 2025 and 2024, respectively, and are classified within other long-term liabilities and accrued expenses and other current liabilities in the Company’s Consolidated Balance Sheets.  The assets of the LCP, totaling $390.9 million and $317.2 million as of October 31, 2025 and 2024, respectively, are classified within other assets in the Company's Consolidated Balance Sheets and principally represent cash surrender values of life insurance policies that are held within an irrevocable trust that may be used to satisfy the obligations of the LCP.  Additional information regarding the assets of the LCP may be found in Note 8, Fair Value Measurements.Research and Development ExpensesThe amount of new product research and development ("R&D") expenses included in cost of sales is as follows (in thousands):Year ended October 31,202520242023R&D expenses $120,942 $111,265 $95,773 

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Accumulated Other Comprehensive Income (Loss)Changes in the components of accumulated other comprehensive income (loss) during fiscal 2025 and 2024 are as follows (in thousands):Foreign Currency TranslationDefined Benefit Pension PlanAccumulatedOther Comprehensive Income (Loss)Balances as of October 31, 2023($39,165)($1,015)($40,180)Unrealized gain13,498 554 14,052 Amortization of unrealized loss— 52 52 Balances as of October 31, 2024(25,667)(409)(26,076)Unrealized gain (loss)31,854 (200)31,654 Amortization of unrealized loss — 3 3