Company: HEI-A
Filing Date: 2025-08-27
Form Type: 10-Q
Source: 0000046619-25-000062
Chunk: 50

Company: HEICO CORP
Filing Date: 2025-08-27
Form: 10-Q
Item: Item 8
Chunk 50
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 392 35,618 Operating income198,326 80,998 (14,305)265,019 Capital expenditures7,224 5,453 62 12,739 Three months ended July 31, 2024:Net sales$681,626 $322,129 ($11,509)$992,246 Depreciation6,683 5,645 312 12,640 Amortization18,622 12,655 393 31,670 Operating income153,594 75,788 (12,936)216,446 Capital expenditures7,925 7,841 84 15,850 (1)  Intersegment activity principally consists of net sales from the ETG to the FSG.

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Total assets by operating segment are as follows (in thousands):Other, Primarily CorporateConsolidated TotalsSegmentFSGETGTotal assets as of July 31, 2025$4,605,036 $3,447,101 $479,486 $8,531,623 Total assets as of October 31, 20244,264,360 2,981,326 347,136 7,592,822 

11.     COMMITMENTS AND CONTINGENCIES

GuaranteesAs of July 31, 2025, the Company had outstanding standby letters of credit and guarantees with financial institutions aggregating $6.7 million.  These standby letters of credit and guarantees pertain to performance guarantees issued in connection with customer contracts entered into by certain of the Company's subsidiaries, and a payment guarantee related to potential workers' compensation claims.Product WarrantyChanges in the Company’s product warranty liability for the nine months ended July 31, 2025 and 2024, respectively, are as follows (in thousands):Nine months ended July 31,20252024Balances as of beginning of fiscal year$4,036 $3,847 Accruals for warranties1,955 2,244 Acquired warranty liabilities1,052 245 Warranty claims settled(2,265)(2,119)Balances as of July 31$4,778 $4,217 LitigationThe Company is involved in various legal actions arising in the normal course of business.  Based upon the Company’s and its legal counsel’s evaluations of any claims or assessments, management is of the opinion that the outcome of these