Company: HEI-A
Filing Date: 2025-02-28
Form Type: 10-Q
Source: 0000046619-25-000015
Chunk: 30

Company: HEICO CORP
Filing Date: 2025-02-28
Form: 10-Q
Item: Item 8
Chunk 30
---
2022, the holder of a 19.9% noncontrolling equity interest in a subsidiary of the FSG that was acquired in fiscal 2015 exercised their option to cause the Company to purchase their noncontrolling interest over a four-year period ending in fiscal 2026.  In December 2024, the Company acquired an additional one-fourth of such interest, which increased the Company's ownership interest in the subsidiary to 95.03%.As discussed in Note 2, Acquisitions, the Company, through a subsidiary of HFSC, acquired 90% of the membership interests of Millennium in January 2025.  As part of the operating agreement, the noncontrolling interest holder has the right to cause the Company to purchase their membership interest over a four-year period beginning in fiscal 2029, or sooner under certain conditions, and the Company has the right to purchase the same membership interest over the same period. 

11

Accumulated Other Comprehensive LossChanges in the components of accumulated other comprehensive loss for the three months ended January 31, 2025 are as follows (in thousands):Foreign Currency TranslationDefined Benefit Pension PlanAccumulated OtherComprehensive LossBalances as of October 31, 2024($25,667)($409)($26,076)Unrealized loss(27,511)— (27,511)Amortization of unrealized loss — 1 1 Balances as of January 31, 2025($53,178)($408)($53,586)

4.     GOODWILL AND OTHER INTANGIBLE ASSETS

    Changes in the carrying amount of goodwill by operating segment for the three months ended January 31, 2025 are as follows (in thousands):SegmentConsolidated TotalsFSGETGBalances as of October 31, 2024$1,882,558 $1,497,737 $3,380,295 Goodwill acquired 112,088 14,759 126,847 Foreign currency translation adjustments(2,298)(13,103)(15,401)Adjustments to goodwill(184)(85)(269)Balances as of January 31, 2025$1,992,164 $1,499,308 $3,491,472 The goodwill acquired pertains to the fiscal 2025 acquisitions described in Note 2, Acquisitions, and represents the residual value after the allocation of the