HEICO CORP
For the period ended Oct 31, 2024. Filed Dec 19, 2024.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Dec 19, 2024
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Item 16. Form 10-K Summary
None
Index
SCHEDULE II – VALUATION AND QUALIFYING ACCOUNTS
| Year ended October 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Allowance for doubtful accounts (in thousands): | |||
| Allowance as of beginning of year | $12,621 | $8,333 | $10,874 |
| Deductions charged to costs and expenses | (184) | (50) | (1,070) |
| Additions charged to other accounts | 51 | 7,729(a) | 476(a) |
| Deductions (b) | (694) | (3,391) | (1,947) |
| Allowance as of end of year | $11,794 | $12,621 | $8,333 |
(a)Principally additions from acquisitions and foreign currency translation adjustments.
(b)Principally write-offs of uncollectible accounts receivables.
| Year ended October 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Inventory valuation reserves (in thousands): | |||
| Reserves as of beginning of year | $258,931 | $154,995 | $142,593 |
| Additions charged to costs and expenses | 34,432 | 11,499 | 13,980 |
| (Deductions) Additions charged to other accounts | (4,027) | 95,596(a) | 275(a) |
| Deductions (b) | (8,385) | (3,159) | (1,853) |
| Reserves as of end of year | $280,951 | $258,931 | $154,995 |
(a)Principally additions from acquisitions and foreign currency translation adjustments.
(b)Principally write-offs of slow-moving, obsolete or damaged inventory.
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SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| HEICO CORPORATION | |||
| Date: | December 19, 2024 | By: | /s/ CARLOS L. MACAU, JR. |
|---|---|---|---|
| Carlos L. Macau, Jr.Executive Vice President - Chief Financial Officer and Treasurer(Principal Financial Officer) | |||
| By: | /s/ STEVEN M. WALKER | ||
| Steven M. WalkerChief Accounting Officer and Assistant Treasurer(Principal Accounting Officer) | |||
Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.
| Name | Position(s) | Date |
|---|---|---|
| /s/ LAURANS A. MENDELSON | Chairman of the Board; Chief Executive Officer; and Director(Principal Executive Officer) | December 19, 2024 |
| Laurans A. Mendelson | ||
| /s/ THOMAS M. CULLIGAN | Director | December 19, 2024 |
| Thomas M. Culligan | ||
| /s/ CAROL F. FINE | Director | December 19, 2024 |
| Carol F. Fine | ||
| /s/ ADOLFO HENRIQUES | Director | December 19, 2024 |
| Adolfo Henriques | ||
| /s/ MARK H. HILDEBRANDT | Director | December 19, 2024 |
| Mark H. Hildebrandt | ||
| /s/ ERIC A. MENDELSON | Co-President and Director | December 19, 2024 |
| Eric A. Mendelson | ||
| /s/ VICTOR H. MENDELSON | Co-President and Director | December 19, 2024 |
| Victor H. Mendelson | ||
| /s/ JULIE NEITZEL | Director | December 19, 2024 |
| Julie Neitzel | ||
| /s/ ALAN SCHRIESHEIM | Director | December 19, 2024 |
| Alan Schriesheim | ||
| /s/ FRANK J. SCHWITTER | Director | December 19, 2024 |
| Frank J. Schwitter | ||
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