Company: HEI-A
Filing Date: 2025-05-29
Form Type: 10-Q
Source: 0000046619-25-000046
Chunk: 16

Company: HEICO CORP
Filing Date: 2025-05-29
Form: 10-Q
Item: Item 1
Chunk 16
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 receivable$600,800 $550,281 Less:  Allowance for doubtful accounts(9,396)(11,794)Accounts receivable, net$591,404 $538,487 Inventories(in thousands)April 30, 2025October 31, 2024Finished products$718,117 $684,578 Work in process108,937 99,107 Materials, parts, assemblies and supplies417,443 387,264 Inventories, net of valuation reserves$1,244,497 $1,170,949 Property, Plant and Equipment(in thousands)April 30, 2025October 31, 2024Land$20,147 $19,974 Buildings and improvements228,099 217,554 Machinery, equipment and tooling455,611 422,500 Construction in progress40,887 35,432 744,744 695,460 Less:  Accumulated depreciation and amortization(385,424)(356,426)Property, plant and equipment, net$359,320 $339,034 Accrued Customer Rebates and CreditsThe aggregate amount of accrued customer rebates and credits included within accrued expenses and other current liabilities in the accompanying Condensed Consolidated Balance Sheets was $28.1 million as of April 30, 2025 and $24.3 million as of October 31, 2024.  The total customer rebates and credits deducted within net sales for the six months ended April 30, 2025 and 2024 was $7.9 million and $5.8 million, respectively.  The total customer rebates and credits deducted within net sales for the three months ended April 30, 2025 and 2024 was $3.6 million and $2.3 million, respectively.

11

Research and Development ExpensesThe amount of new product research and development ("R&D") expenses included in cost of sales for the six and three months ended April 30, 2025 and 2024 is as follows (in thousands):Six months ended April 30,Three months ended April 30,2025202420252024R&D expenses$56,346 $53,031 $28,741 $27,935 Redeemable Noncontrolling InterestsThe holders of equity interests in certain of the Company's subsidiaries have rights ("Put