Company: HEI-A
Filing Date: 2025-05-29
Form Type: 10-Q
Source: 0000046619-25-000046
Chunk: 46

Company: HEICO CORP
Filing Date: 2025-05-29
Form: 10-Q
Item: Item 8
Chunk 46
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 Three months ended April 30, 2025:Net sales$767,070 $342,167 ($11,417)$1,097,820 Depreciation6,609 6,061 498 13,168 Amortization21,840 13,476 393 35,709 Operating income184,980 77,880 (14,708)248,152 Capital expenditures8,768 7,189 7 15,964 Three months ended April 30, 2024:Net sales$647,232 $319,322 ($11,159)$955,395 Depreciation5,442 5,522 305 11,269 Amortization18,447 12,723 392 31,562 Operating income148,876 75,263 (14,986)209,153 Capital expenditures5,982 6,854 112 12,948 (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 April 30, 2025$4,606,613 $3,054,133 $431,430 $8,092,176 Total assets as of October 31, 20244,264,360 2,981,326 347,136 7,592,822 

11.     COMMITMENTS AND CONTINGENCIES

GuaranteesAs of April 30, 2025, the Company had outstanding standby letters of credit with financial institutions aggregating $6.2 million.  These letters of credit primarily relate 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 six months ended April 30, 2025 and 2024, respectively, are as follows (in thousands):Six months ended April 30,20252024Balances as of beginning of fiscal year$4,036 $3,847 Accruals for warranties1,261 1,425 Acquired warranty liabilities431 — Warranty claims settled(1,402)(1,459)Balances as of April 30$