Company: HEI-A
Filing Date: 2025-02-28
Form Type: 10-Q
Source: 0000046619-25-000015
Chunk: 13

Company: HEICO CORP
Filing Date: 2025-02-28
Form: 10-Q
Item: Item 1
Chunk 13
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 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 three months ended January 31, 2025 and 2024 would not have been materially different than the reported amounts.

3.     SELECTED FINANCIAL STATEMENT INFORMATION

Accounts Receivable(in thousands)January 31, 2025October 31, 2024Accounts receivable$533,095 $550,281 Less:  Allowance for doubtful accounts(9,827)(11,794)Accounts receivable, net$523,268 $538,487 

9

Inventories(in thousands)January 31, 2025October 31, 2024Finished products$700,599 $684,578 Work in process101,670 99,107 Materials, parts, assemblies and supplies416,442 387,264 Inventories, net of valuation reserves$1,218,711 $1,170,949 Property, Plant and Equipment(in thousands)January 31, 2025October 31, 2024Land$19,744 $19,974 Buildings and improvements222,272 217,554 Machinery, equipment and tooling438,350 422,500 Construction in progress36,287 35,432 716,653 695,460 Less:  Accumulated depreciation and amortization(367,815)(356,426)Property, plant and equipment, net$348,838 $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 $28.3 million as of January 31, 2025 and $24.3 million as of October 31, 2024.  The total customer rebates and credits deducted within net sales for the three months ended January 31, 2025 and 2024 was $4.3 million and $3.5 million, respectively. Research and Development ExpensesThe amount of new product research and development ("R&D") expenses included in cost of sales for the three months ended January 31, 2025 and 2024 is as follows (in thousands