Company: HEI-A
Filing Date: 2025-02-28
Form Type: 10-Q
Source: 0000046619-25-000015
Chunk: 48

Company: HEICO CORP
Filing Date: 2025-02-28
Form: 10-Q
Item: Item 8
Chunk 48
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 will be released if we exercise our legal defeasance, covenant defeasance option or discharge the Indenture.

We conduct our operations almost entirely through our subsidiaries.  Accordingly, the Guarantor Group’s cash flow and ability to service any guaranteed registered debt securities will depend on the earnings of our subsidiaries and the distribution of those earnings to the Guarantor Group, including the earnings of the non-guarantor subsidiaries, whether by dividends, loans or otherwise.  Holders of the guaranteed registered debt securities will have a direct claim only against the Guarantor Group.

The following tables include summarized financial information for the Guarantor Group (in thousands).  The information for the Guarantor Group is presented on a combined basis, excluding intercompany balances and transactions between us and the Guarantor Group and excluding investments in and equity in the earnings of non-guarantor subsidiaries.  The Guarantor Group’s amounts due from, amounts due to, and transactions with non-guarantor subsidiaries have been presented in separate line items.  The consolidating schedules are provided in accordance with the reporting requirements of Rule 13-01 under SEC Regulation S-X for the issuer and guarantor subsidiaries.

As of As ofJanuary 31, 2025October 31, 2024Current assets (excluding net intercompany receivable from non-guarantor subsidiaries)$1,684,364 $1,642,341 Noncurrent assets 4,703,981 4,627,711 Net intercompany receivable from/ (payable to) non-guarantor subsidiaries247,337 243,421 Current liabilities (excluding net intercompany payable to non-guarantor subsidiaries)511,707 546,677 Noncurrent liabilities 2,964,285 2,793,193 Redeemable noncontrolling interests 262,444 243,277 Noncontrolling interests 53,455 49,900 

Three months endedJanuary 31, 2025Net sales $857,041 Gross profit 332,070 Operating income 189,860 Net income from consolidated operations170,511 Net income attributable to HEICO160,511 

31

Three months endedJanuary 31, 2025Intercompany net sales$2,531 Intercompany management fee 971 Intercompany interest income 2,282 Intercompany dividends17,047 

Forward-Looking Statements

Certain statements in this report constitute “forward-looking statements” within the meaning of the