Company: HEI-A
Filing Date: 2025-02-28
Form Type: 10-Q
Source: 0000046619-25-000015
Chunk: 39

Company: HEICO CORP
Filing Date: 2025-02-28
Form: 10-Q
Item: Item 8
Chunk 39
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 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 31,175 Operating income136,091 55,328 (11,209)180,210 Capital expenditures6,732 6,174 471 13,377 (1)  Intersegment activity principally consists of net sales from the ETG to the FSG.Total assets by operating segment are as follows (in thousands):Other, Primarily CorporateConsolidated TotalsSegmentFSGETGTotal assets as of January 31, 2025$4,523,480 $2,961,755 $405,476 $7,890,711 Total assets as of October 31, 20244,264,360 2,981,326 347,136 7,592,822 

11.     COMMITMENTS AND CONTINGENCIES

GuaranteesAs of January 31, 2025, the Company has arranged for standby letters of credit aggregating $10.0 million, which are supported by its revolving credit facility and principally pertain to performance guarantees related to customer contracts entered into by certain of the Company's subsidiaries as well as a payment guarantee related to potential workers' compensation claims.

22

Product WarrantyChanges in the Company’s product warranty liability for the three months ended January 31, 2025 and 2024 are as follows (in thousands):Three months ended January 31,20252024Balances as of beginning of fiscal year$4,036 $3,847 Accruals for warranties592 790 Acquired warranty liabilities100 — Warranty claims settled(697)(834)Balances as