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10-Q Filing

HEICO CORP CIK: 46619 Q1 2013
Filing Information
Form Type 10-Q
Accession Number 0000046619-13-000004
Period End Date 20130131
Filing Date 20130222
Fiscal Year 2013
Fiscal Period Q1
XBRL Instance hei-20130131.xml
Balance Sheet 76 line items
Line Item Tag Value Unit Period
Preferred stock, par value (in dollars per share) PreferredStockParOrStatedValuePerShare $0.01 USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $17.50M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $21.45M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $19.09M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $23.09M USD Point-in-time
Preferred stock, par value (in dollars per share) PreferredStockParOrStatedValuePerShare $0.01 USD Point-in-time
Accounts receivable, net ReceivablesNetCurrent $110.26M USD Point-in-time
Accounts receivable, net ReceivablesNetCurrent $122.21M USD Point-in-time
Preferred stock, shares authorized PreferredStockSharesAuthorized 10.00M shares Point-in-time
Preferred stock, shares authorized PreferredStockSharesAuthorized 10.00M shares Point-in-time
Inventories, net InventoryNet $189.70M USD Point-in-time
Inventories, net InventoryNet $195.09M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $9.49M USD Point-in-time
Preferred stock, shares issued PreferredStockSharesIssued 0.00 shares Point-in-time
Preferred stock, shares issued PreferredStockSharesIssued 0.00 shares Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $7.00M USD Point-in-time
Deferred income taxes DeferredTaxAssetsNetCurrent $25.77M USD Point-in-time
Deferred income taxes DeferredTaxAssetsNetCurrent $27.55M USD Point-in-time
Total current assets AssetsCurrent $367.91M USD Point-in-time
Total current assets AssetsCurrent $359.69M USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $81.80M USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $80.52M USD Point-in-time
Goodwill Goodwill $543.93M USD Point-in-time
Goodwill Goodwill $542.11M USD Point-in-time
Intangible assets, net IntangibleAssetsNetExcludingGoodwill $150.79M USD Point-in-time
Intangible assets, net IntangibleAssetsNetExcludingGoodwill $154.32M USD Point-in-time
Deferred income taxes DeferredTaxAssetsNetNoncurrent $2.49M USD Point-in-time
Deferred income taxes DeferredTaxAssetsNetNoncurrent $2.61M USD Point-in-time
Other assets OtherAssetsNoncurrent $53.70M USD Point-in-time
Other assets OtherAssetsNoncurrent $45.49M USD Point-in-time
Total assets Assets $1.19B USD Point-in-time
Total assets Assets $1.19B USD Point-in-time
Current maturities of long-term debt LongTermDebtAndCapitalLeaseObligationsCurrent $626.00K USD Point-in-time
Current maturities of long-term debt LongTermDebtAndCapitalLeaseObligationsCurrent $657.00K USD Point-in-time
Trade accounts payable AccountsPayableCurrent $50.08M USD Point-in-time
Trade accounts payable AccountsPayableCurrent $42.05M USD Point-in-time
Accrued expenses and other current liabilities AccruedLiabilitiesCurrent $76.24M USD Point-in-time
Accrued expenses and other current liabilities AccruedLiabilitiesCurrent $57.77M USD Point-in-time
Income taxes payable AccruedIncomeTaxesCurrent $2.09M USD Point-in-time
Income taxes payable AccruedIncomeTaxesCurrent $4.56M USD Point-in-time
Total current liabilities LiabilitiesCurrent $131.51M USD Point-in-time
Total current liabilities LiabilitiesCurrent $102.57M USD Point-in-time
Long-term debt, net of current maturities LongTermDebtAndCapitalLeaseObligations $131.19M USD Point-in-time
Long-term debt, net of current maturities LongTermDebtAndCapitalLeaseObligations $254.22M USD Point-in-time
Deferred income taxes DeferredTaxLiabilitiesNoncurrent $89.86M USD Point-in-time
Deferred income taxes DeferredTaxLiabilitiesNoncurrent $90.44M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $52.78M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $62.10M USD Point-in-time
Total liabilities Liabilities $405.92M USD Point-in-time
Total liabilities Liabilities $508.76M USD Point-in-time
Redeemable noncontrolling interests (Note 10) TemporaryEquityRedemptionValue $67.17M USD Point-in-time
Redeemable noncontrolling interests (Note 10) TemporaryEquityRedemptionValue $51.22M USD Point-in-time
Preferred Stock PreferredStockValue - USD Point-in-time
Preferred Stock PreferredStockValue - USD Point-in-time
Common Stock CommonStockValue $214.00K USD Point-in-time
Common Stock CommonStockValue $213.00K USD Point-in-time
Class A Common Stock OtherCommonStockClass $316.00K USD Point-in-time
Class A Common Stock OtherCommonStockClass $315.00K USD Point-in-time
Capital in excess of par value AdditionalPaidInCapitalCommonStock $244.63M USD Point-in-time
Capital in excess of par value AdditionalPaidInCapitalCommonStock $248.82M USD Point-in-time
Deferred compensation obligation DeferredCompensationObligation $823.00K USD Point-in-time
Deferred compensation obligation DeferredCompensationObligation $928.00K USD Point-in-time
HEICO stock held by irrevocable trust CommonStockIssuedEmployeeStockTrust $928.00K USD Point-in-time
HEICO stock held by irrevocable trust CommonStockIssuedEmployeeStockTrust $823.00K USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-3.57M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-338.00K USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $277.59M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $375.08M USD Point-in-time
Total HEICO shareholders' equity StockholdersEquity $616.67M USD Point-in-time
Total HEICO shareholders' equity StockholdersEquity $526.60M USD Point-in-time
Noncontrolling interests MinorityInterest $103.09M USD Point-in-time
Noncontrolling interests MinorityInterest $105.94M USD Point-in-time
Total shareholders' equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $632.54M USD Point-in-time
Total shareholders' equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $719.76M USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $1.19B USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $1.19B USD Point-in-time
Income Statement 34 line items
Line Item Tag Value Unit Period
Net sales SalesRevenueNet $212.66M USD 1 Quarter
Net sales SalesRevenueNet $216.49M USD 1 Quarter
Cost of sales CostOfRevenue $138.90M USD 1 Quarter
Cost of sales CostOfRevenue $134.41M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $42.65M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $40.62M USD 1 Quarter
Total operating costs and expenses CostsAndExpenses $181.55M USD 1 Quarter
Total operating costs and expenses CostsAndExpenses $175.02M USD 1 Quarter
Operating income OperatingIncomeLoss $37.63M USD 1 Quarter
Operating income OperatingIncomeLoss $34.94M USD 1 Quarter
Interest expense InterestExpenseDebt $610.00K USD 1 Quarter
Interest expense InterestExpenseDebt $640.00K USD 1 Quarter
Other income OtherNonoperatingIncomeExpense $144.00K USD 1 Quarter
Other income OtherNonoperatingIncomeExpense $285.00K USD 1 Quarter
Income before income taxes and noncontrolling interests IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $34.58M USD 1 Quarter
Income before income taxes and noncontrolling interests IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $37.17M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $9.60M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $12.70M USD 1 Quarter
Net income from consolidated operations ProfitLoss $24.47M USD 1 Quarter
Net income from consolidated operations ProfitLoss $24.98M USD 1 Quarter
Less: Net income attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $5.03M USD 1 Quarter
Less: Net income attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $5.28M USD 1 Quarter
Net income attributable to HEICO NetIncomeLoss $19.18M USD 1 Quarter
Net income attributable to HEICO NetIncomeLoss $19.96M USD 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $0.36 USD 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $0.38 USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted $0.37 USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted $0.36 USD 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 52.95M shares 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 52.61M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 53.44M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 53.28M shares 1 Quarter
Cash dividends per share (in dollars per share) CommonStockDividendsPerShareCashPaid $0.05 USD 1 Quarter
Cash dividends per share (in dollars per share) CommonStockDividendsPerShareCashPaid $2.20 USD 1 Quarter
Cash Flow Statement 72 line items
Line Item Tag Value Unit Period
Net income from consolidated operations ProfitLoss $24.47M USD 1 Quarter
Net income from consolidated operations ProfitLoss $24.98M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $8.14M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $6.97M USD 1 Quarter
Tax benefit from stock option exercises TaxBenefitFromStockOptionsExercised1 $5.17M USD 1 Quarter
Tax benefit from stock option exercises TaxBenefitFromStockOptionsExercised1 $13.03M USD 1 Quarter
Excess tax benefit from stock option exercises ExcessTaxBenefitFromShareBasedCompensationOperatingActivities $-5.11M USD 1 Quarter
Excess tax benefit from stock option exercises ExcessTaxBenefitFromShareBasedCompensationOperatingActivities $-11.98M USD 1 Quarter
Stock option compensation expense StockOptionPlanExpense $942.00K USD 1 Quarter
Stock option compensation expense StockOptionPlanExpense $1.09M USD 1 Quarter
Deferred income tax provision DeferredIncomeTaxExpenseBenefit $851.00K USD 1 Quarter
Deferred income tax provision DeferredIncomeTaxExpenseBenefit $803.00K USD 1 Quarter
Decrease in value of contingent consideration BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability $-159.00K USD 1 Quarter
Decrease in value of contingent consideration BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability - USD 1 Quarter
Decrease in accounts receivable IncreaseDecreaseInReceivables $4.19M USD 1 Quarter
Decrease in accounts receivable IncreaseDecreaseInReceivables $12.14M USD 1 Quarter
Increase in inventories IncreaseDecreaseInInventories $-4.96M USD 1 Quarter
Increase in inventories IncreaseDecreaseInInventories $-5.88M USD 1 Quarter
Increase in prepaid expenses and other current assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $-2.46M USD 1 Quarter
Increase in prepaid expenses and other current assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $-7.67M USD 1 Quarter
Decrease in trade accounts payable IncreaseDecreaseInAccountsPayable $-8.12M USD 1 Quarter
Decrease in trade accounts payable IncreaseDecreaseInAccountsPayable $-4.38M USD 1 Quarter
Decrease in accrued expenses and other current liabilities IncreaseDecreaseInAccruedLiabilities $-16.61M USD 1 Quarter
Decrease in accrued expenses and other current liabilities IncreaseDecreaseInAccruedLiabilities $-20.43M USD 1 Quarter
Decrease in income taxes payable IncreaseDecreaseInAccruedIncomeTaxesPayable $-2.46M USD 1 Quarter
Decrease in income taxes payable IncreaseDecreaseInAccruedIncomeTaxesPayable $-2.39M USD 1 Quarter
Other OtherNoncashIncomeExpense $743.00K USD 1 Quarter
Other OtherNoncashIncomeExpense $98.00K USD 1 Quarter
Net cash provided by (used in) operating activities NetCashProvidedByUsedInOperatingActivities $13.28M USD 1 Quarter
Net cash provided by (used in) operating activities NetCashProvidedByUsedInOperatingActivities $-2.25M USD 1 Quarter
Acquisitions, net of cash acquired PaymentsToAcquireBusinessesNetOfCashAcquired $1.24M USD 1 Quarter
Acquisitions, net of cash acquired PaymentsToAcquireBusinessesNetOfCashAcquired $142.33M USD 1 Quarter
Capital expenditures PaymentsToAcquirePropertyPlantAndEquipment $3.79M USD 1 Quarter
Capital expenditures PaymentsToAcquirePropertyPlantAndEquipment $4.47M USD 1 Quarter
Other PaymentsForProceedsFromOtherInvestingActivities $107.00K USD 1 Quarter
Other PaymentsForProceedsFromOtherInvestingActivities $3.00K USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-5.71M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-146.22M USD 1 Quarter
Borrowings on revolving credit facility ProceedsFromLongTermLinesOfCredit $145.00M USD 1 Quarter
Borrowings on revolving credit facility ProceedsFromLongTermLinesOfCredit $157.00M USD 1 Quarter
Payments on revolving credit facility RepaymentsOfLongTermLinesOfCredit $6.00M USD 1 Quarter
Payments on revolving credit facility RepaymentsOfLongTermLinesOfCredit $22.00M USD 1 Quarter
Cash dividends paid PaymentsOfDividendsCommonStock $2.53M USD 1 Quarter
Cash dividends paid PaymentsOfDividendsCommonStock $116.64M USD 1 Quarter
Acquisitions of noncontrolling interests PaymentsForRepurchaseOfRedeemableNoncontrollingInterest - USD 1 Quarter
Acquisitions of noncontrolling interests PaymentsForRepurchaseOfRedeemableNoncontrollingInterest $16.61M USD 1 Quarter
Excess tax benefit from stock option exercises ExcessTaxBenefitFromShareBasedCompensationFinancingActivities $5.11M USD 1 Quarter
Excess tax benefit from stock option exercises ExcessTaxBenefitFromShareBasedCompensationFinancingActivities $11.98M USD 1 Quarter
Distributions to noncontrolling interests PaymentsOfDividendsMinorityInterest $2.31M USD 1 Quarter
Distributions to noncontrolling interests PaymentsOfDividendsMinorityInterest $3.01M USD 1 Quarter
Redemptions of common stock related to stock option exercises CommonStockIssuedRepurchasedAndRetiredRelatedToStockOptionExercises - USD 1 Quarter
Redemptions of common stock related to stock option exercises CommonStockIssuedRepurchasedAndRetiredRelatedToStockOptionExercises $2.36M USD 1 Quarter
Revolving credit facility issuance costs PaymentsOfDebtIssuanceCosts $570.00K USD 1 Quarter
Revolving credit facility issuance costs PaymentsOfDebtIssuanceCosts $3.03M USD 1 Quarter
Proceeds from stock option exercises ProceedsFromStockOptionsExercised $79.00K USD 1 Quarter
Proceeds from stock option exercises ProceedsFromStockOptionsExercised $286.00K USD 1 Quarter
Other ProceedsFromPaymentsForOtherFinancingActivities $-93.00K USD 1 Quarter
Other ProceedsFromPaymentsForOtherFinancingActivities $-152.00K USD 1 Quarter
Net cash (used in) provided by financing activities NetCashProvidedByUsedInFinancingActivities $-10.26M USD 1 Quarter
Net cash (used in) provided by financing activities NetCashProvidedByUsedInFinancingActivities $154.41M USD 1 Quarter
Effect of exchange rate changes on cash EffectOfExchangeRateOnCashAndCashEquivalents $-345.00K USD 1 Quarter
Effect of exchange rate changes on cash EffectOfExchangeRateOnCashAndCashEquivalents $326.00K USD 1 Quarter
Net (decrease) increase in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $-2.36M USD 1 Quarter
Net (decrease) increase in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $5.59M USD 1 Quarter
Cash and cash equivalents at beginning of year CashAndCashEquivalentsAtCarryingValue $17.50M USD Point-in-time
Cash and cash equivalents at beginning of year CashAndCashEquivalentsAtCarryingValue $21.45M USD Point-in-time
Cash and cash equivalents at beginning of year CashAndCashEquivalentsAtCarryingValue $19.09M USD Point-in-time
Cash and cash equivalents at beginning of year CashAndCashEquivalentsAtCarryingValue $23.09M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $17.50M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $21.45M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $19.09M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $23.09M USD Point-in-time
Stockholders Equity 12 line items
Line Item Tag Value Unit Period
Cash dividends per share (in dollars per share) CommonStockDividendsPerShareCashPaid $0.05 USD 1 Quarter
Cash dividends per share (in dollars per share) CommonStockDividendsPerShareCashPaid $2.20 USD 1 Quarter
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $632.54M USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $719.76M USD Point-in-time
Comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $19.04M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $28.22M USD 1 Quarter
Tax benefit from stock option exercises TaxBenefitFromStockOptionsExercised1 $5.17M USD 1 Quarter
Tax benefit from stock option exercises TaxBenefitFromStockOptionsExercised1 $13.03M USD 1 Quarter
Redemptions of common stock related to stock option exercises CommonStockIssuedRepurchasedAndRetiredRelatedToStockOptionExercises - USD 1 Quarter
Redemptions of common stock related to stock option exercises CommonStockIssuedRepurchasedAndRetiredRelatedToStockOptionExercises $2.36M USD 1 Quarter
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $632.54M USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $719.76M USD Point-in-time
Comprehensive Income 12 line items
Line Item Tag Value Unit Period
Net income from consolidated operations ProfitLoss $24.47M USD 1 Quarter
Net income from consolidated operations ProfitLoss $24.98M USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax $3.23M USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax $-5.43M USD 1 Quarter
Total other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTax $-5.43M USD 1 Quarter
Total other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTax $3.23M USD 1 Quarter
Comprehensive income from consolidated operations ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $19.04M USD 1 Quarter
Comprehensive income from consolidated operations ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $28.22M USD 1 Quarter
Less: Comprehensive income attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $5.03M USD 1 Quarter
Less: Comprehensive income attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $5.28M USD 1 Quarter
Comprehensive income attributable to HEICO ComprehensiveIncomeNetOfTax $13.76M USD 1 Quarter
Comprehensive income attributable to HEICO ComprehensiveIncomeNetOfTax $23.19M USD 1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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