Company: HEI-A
Filing Date: 2025-08-27
Form Type: 10-Q
Source: 0000046619-25-000062
Chunk: 17

Company: HEICO CORP
Filing Date: 2025-08-27
Form: 10-Q
Item: Item 1
Chunk 17
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723,021 $684,578 Work in process127,756 99,107 Materials, parts, assemblies and supplies459,616 387,264 Inventories, net of valuation reserves$1,310,393 $1,170,949 Property, Plant and Equipment(in thousands)July 31, 2025October 31, 2024Land$83,425 $19,974 Buildings and improvements259,764 217,554 Machinery, equipment and tooling473,800 422,500 Construction in progress19,471 35,432 836,460 695,460 Less:  Accumulated depreciation and amortization(398,825)(356,426)Property, plant and equipment, net$437,635 $339,034 

12

Accrued Customer Rebates and CreditsThe aggregate amount of accrued customer rebates and credits included within accrued expenses and other current liabilities in the accompanying Condensed Consolidated Balance Sheets was $29.4 million as of July 31, 2025 and $24.3 million as of October 31, 2024.  The total customer rebates and credits deducted within net sales for the nine months ended July 31, 2025 and 2024 was $12.8 million and $8.5 million, respectively.  The total customer rebates and credits deducted within net sales for the three months ended July 31, 2025 and 2024 was $4.9 million and $2.7 million, respectively.Research and Development ExpensesThe amount of new product research and development ("R&D") expenses included in cost of sales for the nine and three months ended July 31, 2025 and 2024 is as follows (in thousands):Nine months ended July 31,Three months ended July 31,2025202420252024R&D expenses$88,275 $82,810 $31,929 $29,779 Redeemable Noncontrolling InterestsThe holders of equity interests in certain of the Company's subsidiaries have rights ("Put Rights") that may be exercised on varying dates causing the Company to purchase their equity interests through fiscal 2034.  The Put Rights, all of which relate either to common shares or membership interests in limited liability companies, provide that the cash consideration to be paid for their equity interests (the "Redemption Amount") be at fair