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10-Q Filing

HEICO CORP CIK: 46619 Q1 2017
Filing Information
Form Type 10-Q
Accession Number 0000046619-17-000009
Period End Date 20170131
Filing Date 20170302
Fiscal Year 2017
Fiscal Period Q1
XBRL Instance hei-20170131.xml
Balance Sheet 68 line items
Line Item Tag Value Unit Period
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $42.95M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $29.89M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $33.60M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $45.91M USD Point-in-time
Accounts receivable, net ReceivablesNetCurrent $176.03M USD Point-in-time
Accounts receivable, net ReceivablesNetCurrent $202.23M USD Point-in-time
Inventories, net InventoryNet $286.30M USD Point-in-time
Inventories, net InventoryNet $301.12M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $13.20M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $11.67M USD Point-in-time
Deferred income taxes DeferredTaxAssetsNetCurrent $41.06M USD Point-in-time
Deferred income taxes DeferredTaxAssetsNetCurrent $38.95M USD Point-in-time
Total current assets AssetsCurrent $584.22M USD Point-in-time
Total current assets AssetsCurrent $575.21M USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $121.61M USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $121.88M USD Point-in-time
Goodwill Goodwill $864.66M USD Point-in-time
Goodwill Goodwill $865.72M USD Point-in-time
Intangible assets, net IntangibleAssetsNetExcludingGoodwill $357.12M USD Point-in-time
Intangible assets, net IntangibleAssetsNetExcludingGoodwill $366.86M USD Point-in-time
Deferred income taxes DeferredTaxAssetsNetNoncurrent $407.00K USD Point-in-time
Deferred income taxes DeferredTaxAssetsNetNoncurrent $272.00K USD Point-in-time
Other assets OtherAssetsNoncurrent $112.28M USD Point-in-time
Other assets OtherAssetsNoncurrent $100.66M USD Point-in-time
Total assets Assets $2.03B USD Point-in-time
Total assets Assets $2.04B USD Point-in-time
Current maturities of long-term debt LongTermDebtAndCapitalLeaseObligationsCurrent $397.00K USD Point-in-time
Current maturities of long-term debt LongTermDebtAndCapitalLeaseObligationsCurrent $411.00K USD Point-in-time
Trade accounts payable AccountsPayableCurrent $73.33M USD Point-in-time
Trade accounts payable AccountsPayableCurrent $66.95M USD Point-in-time
Accrued expenses and other current liabilities AccruedLiabilitiesCurrent $117.58M USD Point-in-time
Accrued expenses and other current liabilities AccruedLiabilitiesCurrent $136.05M USD Point-in-time
Income taxes payable AccruedIncomeTaxesCurrent $4.62M USD Point-in-time
Income taxes payable AccruedIncomeTaxesCurrent $11.80M USD Point-in-time
Total current liabilities LiabilitiesCurrent $214.42M USD Point-in-time
Total current liabilities LiabilitiesCurrent $196.72M USD Point-in-time
Long-term debt, net of current maturities LongTermDebtAndCapitalLeaseObligations $457.81M USD Point-in-time
Long-term debt, net of current maturities LongTermDebtAndCapitalLeaseObligations $416.93M USD Point-in-time
Deferred income taxes DeferredTaxLiabilitiesNoncurrent $105.96M USD Point-in-time
Deferred income taxes DeferredTaxLiabilitiesNoncurrent $103.23M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $127.04M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $114.06M USD Point-in-time
Total liabilities Liabilities $843.93M USD Point-in-time
Total liabilities Liabilities $892.26M USD Point-in-time
Commitments and contingencies CommitmentsAndContingencies - USD Point-in-time
Commitments and contingencies CommitmentsAndContingencies - USD Point-in-time
Redeemable noncontrolling interests TemporaryEquityCarryingAmountIncludingPortionAttributableToNoncontrollingInterests $99.51M USD Point-in-time
Redeemable noncontrolling interests TemporaryEquityCarryingAmountIncludingPortionAttributableToNoncontrollingInterests $98.90M USD Point-in-time
Common Stock CommonStockValue $270.00K USD Point-in-time
Common Stock CommonStockValue $270.00K USD Point-in-time
Capital in excess of par value AdditionalPaidInCapitalCommonStock $306.33M USD Point-in-time
Capital in excess of par value AdditionalPaidInCapitalCommonStock $309.90M USD Point-in-time
Deferred compensation obligation DeferredCompensationObligation $2.32M USD Point-in-time
Deferred compensation obligation DeferredCompensationObligation $2.46M USD Point-in-time
HEICO stock held by irrevocable trust CommonStockIssuedEmployeeStockTrust $2.46M USD Point-in-time
HEICO stock held by irrevocable trust CommonStockIssuedEmployeeStockTrust $2.32M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-25.33M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-26.55M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $681.70M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $717.76M USD Point-in-time
Total HEICO shareholders' equity StockholdersEquity $963.38M USD Point-in-time
Total HEICO shareholders' equity StockholdersEquity $1.00B USD Point-in-time
Noncontrolling interests MinorityInterest $84.33M USD Point-in-time
Noncontrolling interests MinorityInterest $86.80M USD Point-in-time
Total shareholders' equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.09B USD Point-in-time
Total shareholders' equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.05B USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $2.04B USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $2.03B USD Point-in-time
Income Statement 34 line items
Line Item Tag Value Unit Period
Net sales SalesRevenueNet $306.23M USD 1 Quarter
Net sales SalesRevenueNet $343.43M USD 1 Quarter
Cost of sales CostOfRevenue $194.03M USD 1 Quarter
Cost of sales CostOfRevenue $218.01M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $60.87M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $59.58M USD 1 Quarter
Total operating costs and expenses CostsAndExpenses $278.88M USD 1 Quarter
Total operating costs and expenses CostsAndExpenses $253.61M USD 1 Quarter
Operating income OperatingIncomeLoss $52.62M USD 1 Quarter
Operating income OperatingIncomeLoss $64.55M USD 1 Quarter
Interest expense InterestExpenseDebt $1.57M USD 1 Quarter
Interest expense InterestExpenseDebt $1.97M USD 1 Quarter
Other income OtherNonoperatingIncomeExpense $-430.00K USD 1 Quarter
Other income OtherNonoperatingIncomeExpense $484.00K USD 1 Quarter
Income before income taxes and noncontrolling interests IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $50.62M USD 1 Quarter
Income before income taxes and noncontrolling interests IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $63.06M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $14.70M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $16.80M USD 1 Quarter
Net income from consolidated operations ProfitLoss $35.92M USD 1 Quarter
Net income from consolidated operations ProfitLoss $46.27M USD 1 Quarter
Less: Net income attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $5.34M USD 1 Quarter
Less: Net income attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $4.65M USD 1 Quarter
Net income attributable to HEICO NetIncomeLoss $40.93M USD 1 Quarter
Net income attributable to HEICO NetIncomeLoss $31.27M USD 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $0.61 USD 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $0.47 USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted $0.46 USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted $0.59 USD 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 66.88M shares 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 67.31M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 69.12M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 67.94M shares 1 Quarter
Cash dividends per share (in dollars per share) CommonStockDividendsPerShareCashPaid $0.09 USD 1 Quarter
Cash dividends per share (in dollars per share) CommonStockDividendsPerShareCashPaid $0.08 USD 1 Quarter
Cash Flow Statement 67 line items
Line Item Tag Value Unit Period
Net income from consolidated operations ProfitLoss $35.92M USD 1 Quarter
Net income from consolidated operations ProfitLoss $46.27M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $13.92M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $15.25M USD 1 Quarter
Employer contributions to HEICO Savings and Investment Plan DefinedContributionPlanEmployerDiscretionaryContributionAmount $1.42M USD 1 Quarter
Employer contributions to HEICO Savings and Investment Plan DefinedContributionPlanEmployerDiscretionaryContributionAmount $1.71M USD 1 Quarter
Share-based compensation expense StockOptionPlanExpense $1.68M USD 1 Quarter
Share-based compensation expense StockOptionPlanExpense $1.45M USD 1 Quarter
Increase (decrease) in value of contingent consideration BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1 $847.00K USD 1 Quarter
Increase (decrease) in value of contingent consideration BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1 $537.00K USD 1 Quarter
Deferred income tax provision (benefit) DeferredIncomeTaxExpenseBenefit $2.28M USD 1 Quarter
Deferred income tax provision (benefit) DeferredIncomeTaxExpenseBenefit $-346.00K USD 1 Quarter
Foreign currency transaction adjustments, net ForeignCurrencyTransactionGainBeforeTax $839.00K USD 1 Quarter
Foreign currency transaction adjustments, net ForeignCurrencyTransactionGainBeforeTax $956.00K USD 1 Quarter
Tax benefit from stock option exercises DeferredTaxExpenseFromStockOptionsExercised $871.00K USD 1 Quarter
Excess tax benefit from stock option exercises ExcessTaxBenefitFromShareBasedCompensationOperatingActivities $871.00K USD 1 Quarter
Decrease in accounts receivable IncreaseDecreaseInReceivables $-12.35M USD 1 Quarter
Decrease in accounts receivable IncreaseDecreaseInReceivables $-26.00M USD 1 Quarter
Increase in inventories IncreaseDecreaseInInventories $14.99M USD 1 Quarter
Increase in inventories IncreaseDecreaseInInventories $2.33M USD 1 Quarter
(Increase) decrease in prepaid expenses and other current assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $3.03M USD 1 Quarter
(Increase) decrease in prepaid expenses and other current assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $1.56M USD 1 Quarter
Decrease in trade accounts payable IncreaseDecreaseInAccountsPayable $-7.70M USD 1 Quarter
Decrease in trade accounts payable IncreaseDecreaseInAccountsPayable $-6.32M USD 1 Quarter
Decrease in accrued expenses and other current liabilities IncreaseDecreaseInAccruedLiabilities $-14.79M USD 1 Quarter
Decrease in accrued expenses and other current liabilities IncreaseDecreaseInAccruedLiabilities $-18.91M USD 1 Quarter
Increase in income taxes payable IncreaseDecreaseInAccruedIncomeTaxesPayable $5.85M USD 1 Quarter
Increase in income taxes payable IncreaseDecreaseInAccruedIncomeTaxesPayable $7.23M USD 1 Quarter
Other OtherNoncashIncomeExpense $-616.00K USD 1 Quarter
Other OtherNoncashIncomeExpense $419.00K USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivitiesContinuingOperations $45.17M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivitiesContinuingOperations $55.98M USD 1 Quarter
Acquisitions, net of cash acquired PaymentsToAcquireBusinessesNetOfCashAcquired - USD 1 Quarter
Acquisitions, net of cash acquired PaymentsToAcquireBusinessesNetOfCashAcquired $264.32M USD 1 Quarter
Capital expenditures PaymentsToAcquirePropertyPlantAndEquipment $6.42M USD 1 Quarter
Capital expenditures PaymentsToAcquirePropertyPlantAndEquipment $5.69M USD 1 Quarter
Other PaymentsForProceedsFromOtherInvestingActivities $-419.00K USD 1 Quarter
Other PaymentsForProceedsFromOtherInvestingActivities $-474.00K USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivitiesContinuingOperations $-6.00M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivitiesContinuingOperations $-269.54M USD 1 Quarter
Borrowings on revolving credit facility ProceedsFromLongTermLinesOfCredit $260.00M USD 1 Quarter
Borrowings on revolving credit facility ProceedsFromLongTermLinesOfCredit - USD 1 Quarter
Payments on revolving credit facility RepaymentsOfLongTermLinesOfCredit $40.00M USD 1 Quarter
Payments on revolving credit facility RepaymentsOfLongTermLinesOfCredit $32.00M USD 1 Quarter
Cash dividends paid PaymentsOfDividendsCommonStock $6.06M USD 1 Quarter
Cash dividends paid PaymentsOfDividendsCommonStock $5.35M USD 1 Quarter
Distributions to noncontrolling interests PaymentsOfDividendsMinorityInterest $2.70M USD 1 Quarter
Distributions to noncontrolling interests PaymentsOfDividendsMinorityInterest $1.99M USD 1 Quarter
Proceeds from stock option exercises ProceedsFromStockOptionsExercised $94.00K USD 1 Quarter
Proceeds from stock option exercises ProceedsFromStockOptionsExercised $1.23M USD 1 Quarter
Excess tax benefit from stock option exercises ExcessTaxBenefitFromShareBasedCompensationFinancingActivities $871.00K USD 1 Quarter
Other ProceedsFromPaymentsForOtherFinancingActivities $-86.00K USD 1 Quarter
Other ProceedsFromPaymentsForOtherFinancingActivities $-108.00K USD 1 Quarter
Net cash (used in) provided by financing activities NetCashProvidedByUsedInFinancingActivitiesContinuingOperations $220.83M USD 1 Quarter
Net cash (used in) provided by financing activities NetCashProvidedByUsedInFinancingActivitiesContinuingOperations $-46.92M USD 1 Quarter
Effect of exchange rate changes on cash EffectOfExchangeRateOnCashAndCashEquivalents $-99.00K USD 1 Quarter
Effect of exchange rate changes on cash EffectOfExchangeRateOnCashAndCashEquivalents $-177.00K USD 1 Quarter
Net (decrease) increase in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $-3.72M USD 1 Quarter
Net (decrease) increase in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $2.95M USD 1 Quarter
Cash and cash equivalents at beginning of year CashAndCashEquivalentsAtCarryingValue $42.95M USD Point-in-time
Cash and cash equivalents at beginning of year CashAndCashEquivalentsAtCarryingValue $29.89M USD Point-in-time
Cash and cash equivalents at beginning of year CashAndCashEquivalentsAtCarryingValue $33.60M USD Point-in-time
Cash and cash equivalents at beginning of year CashAndCashEquivalentsAtCarryingValue $45.91M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $42.95M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $29.89M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $33.60M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $45.91M USD Point-in-time
Stockholders Equity 10 line items
Line Item Tag Value Unit Period
Starting Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.09B USD Point-in-time
Starting Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.05B USD Point-in-time
Comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $44.75M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $33.26M USD 1 Quarter
Ending Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.09B USD Point-in-time
Ending Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.05B USD Point-in-time
Starting Balance, Redeemable Noncontrolling Interests TemporaryEquityCarryingAmountIncludingPortionAttributableToNoncontrollingInterests $99.51M USD Point-in-time
Starting Balance, Redeemable Noncontrolling Interests TemporaryEquityCarryingAmountIncludingPortionAttributableToNoncontrollingInterests $98.90M USD Point-in-time
Ending Balance, Redeemable Noncontrolling Interests TemporaryEquityCarryingAmountIncludingPortionAttributableToNoncontrollingInterests $99.51M USD Point-in-time
Ending Balance, Redeemable Noncontrolling Interests TemporaryEquityCarryingAmountIncludingPortionAttributableToNoncontrollingInterests $98.90M USD Point-in-time
Comprehensive Income 18 line items
Line Item Tag Value Unit Period
Net income from consolidated operations ProfitLoss $35.92M USD 1 Quarter
Net income from consolidated operations ProfitLoss $46.27M USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax $-1.52M USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax $-2.67M USD 1 Quarter
Amortization of unrealized loss on defined benefit pension plan, net of tax DefinedBenefitPlanAmortizationOfGainsLosses $7.00K USD 1 Quarter
Amortization of unrealized loss on defined benefit pension plan, net of tax DefinedBenefitPlanAmortizationOfGainsLosses - USD 1 Quarter
Total other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTax $-2.67M USD 1 Quarter
Total other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTax $-1.52M USD 1 Quarter
Comprehensive income from consolidated operations ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $44.75M USD 1 Quarter
Comprehensive income from consolidated operations ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $33.26M USD 1 Quarter
Less: Comprehensive income attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $5.34M USD 1 Quarter
Less: Comprehensive income attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $4.65M USD 1 Quarter
Less: Foreign currency translation adjustments attributable to noncontrolling interests OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToNoncontrollingInterest $-204.00K USD 1 Quarter
Less: Foreign currency translation adjustments attributable to noncontrolling interests OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToNoncontrollingInterest $-296.00K USD 1 Quarter
Comprehensive income attributable to noncontrolling interests ComprehensiveIncomeLossNetofTaxAttributabletoNoncontrollingInterestsIncludingRedeemableNoncontrollingInterests $5.04M USD 1 Quarter
Comprehensive income attributable to noncontrolling interests ComprehensiveIncomeLossNetofTaxAttributabletoNoncontrollingInterestsIncludingRedeemableNoncontrollingInterests $4.45M USD 1 Quarter
Comprehensive income attributable to HEICO ComprehensiveIncomeNetOfTax $39.71M USD 1 Quarter
Comprehensive income attributable to HEICO ComprehensiveIncomeNetOfTax $28.81M USD 1 Quarter

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

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