Company: HEI-A
Filing Date: 2025-02-28
Form Type: 10-Q
Source: 0000046619-25-000015
Chunk: 23

Company: HEICO CORP
Filing Date: 2025-02-28
Form: 10-Q
Item: Item 1
Chunk 23
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 Statements of Operations.The carrying amounts of the Company’s cash and cash equivalents, accounts receivable, trade accounts payable and accrued expenses and other current liabilities approximate fair value as of January 31, 2025 due to the relatively short maturity of the respective instruments.  The carrying amount of borrowings under the Company's credit facility approximates fair value due to its variable interest rate.  See Note 5, Long-Term Debt, for the estimated fair value of the Company’s senior unsecured notes.

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9.    NET INCOME PER SHARE ATTRIBUTABLE TO HEICO SHAREHOLDERS

    The computation of basic and diluted net income per share attributable to HEICO shareholders is as follows (in thousands, except per share data):Three months ended January 31,20252024Numerator:Net income attributable to HEICO$167,955 $114,698 Denominator:Weighted average common shares outstanding - basic138,837 138,265 Effect of dilutive stock options1,647 1,628 Weighted average common shares outstanding - diluted140,484 139,893 Net income per share attributable to HEICO shareholders:Basic$1.21 $.83 Diluted$1.20 $.82 Anti-dilutive stock options excluded53 1,422 

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10.    OPERATING SEGMENTS

    Information on the Company’s two operating segments, the FSG and the ETG, for the three months ended January 31, 2025 and 2024 is as follows (in thousands):Other, Primarily Corporate and Intersegment (1)Consolidated TotalsSegmentFSGETGThree months ended January 31, 2025:Net sales$713,174 $330,315 ($13,267)$1,030,222 Depreciation6,578 5,969 501 13,048 Amortization19,254 13,531 392 33,177 Operating income166,116 76,456 (15,767)226,805 Capital expenditures10,246 7,089 — 17,335 Three months ended January 31, 2024:Net sales$618,716 $285,942 ($8,295)$896,363 Depreciation6,487 5,539 304 12,330 Amortization17,857 12,926 392