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10-Q Filing

HEICO CORP CIK: 46619 Q1 2011
Filing Information
Form Type 10-Q
Accession Number 0001133796-11-000045
Period End Date 20110131
Filing Date 20110302
Fiscal Year 2011
Fiscal Period Q1
XBRL Instance hei-20110131.xml
Balance Sheet 68 line items
Line Item Tag Value Unit Period
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $7.52M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $6.54M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $13.87M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $7.17M USD Point-in-time
Accounts receivable, net ReceivablesNetCurrent $91.81M USD Point-in-time
Accounts receivable, net ReceivablesNetCurrent $92.05M USD Point-in-time
Inventories, net InventoryNet $149.44M USD Point-in-time
Preferred Stock, par value PreferredStockParOrStatedValuePerShare $0.01 USD Point-in-time
Inventories, net InventoryNet $138.22M USD Point-in-time
Preferred Stock, par value PreferredStockParOrStatedValuePerShare $0.01 USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseCurrent $3.77M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseCurrent $6.74M 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
Deferred income taxes DeferredTaxAssetsNetCurrent $18.26M USD Point-in-time
Deferred income taxes DeferredTaxAssetsNetCurrent $18.91M 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
Total current assets AssetsCurrent $259.25M USD Point-in-time
Total current assets AssetsCurrent $280.36M USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $58.13M USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $59.00M USD Point-in-time
Goodwill Goodwill $385.02M USD Point-in-time
Goodwill Goodwill $389.20M USD Point-in-time
Intangible assets, net IntangibleAssetsNetExcludingGoodwill $63.10M USD Point-in-time
Intangible assets, net IntangibleAssetsNetExcludingGoodwill $49.49M USD Point-in-time
Other assets OtherAssetsNoncurrent $28.89M USD Point-in-time
Other assets OtherAssetsNoncurrent $34.70M USD Point-in-time
Total assets Assets $825.50M USD Point-in-time
Total assets Assets $781.64M USD Point-in-time
Current maturities of long-term debt LongTermDebtCurrent $148.00K USD Point-in-time
Current maturities of long-term debt LongTermDebtCurrent $91.00K USD Point-in-time
Trade accounts payable AccountsPayableCurrent $28.60M USD Point-in-time
Trade accounts payable AccountsPayableCurrent $33.60M USD Point-in-time
Accrued expenses and other current liabilities AccruedLiabilitiesCurrent $45.97M USD Point-in-time
Accrued expenses and other current liabilities AccruedLiabilitiesCurrent $52.10M USD Point-in-time
Income taxes payable AccruedIncomeTaxesCurrent $979.00K USD Point-in-time
Income taxes payable AccruedIncomeTaxesCurrent $1.53M USD Point-in-time
Total current liabilities LiabilitiesCurrent $81.83M USD Point-in-time
Total current liabilities LiabilitiesCurrent $81.19M USD Point-in-time
Long-term debt, net of current maturities LongTermDebtNoncurrent $14.07M USD Point-in-time
Long-term debt, net of current maturities LongTermDebtNoncurrent $24.07M USD Point-in-time
Deferred income taxes DeferredTaxLiabilitiesNoncurrent $45.31M USD Point-in-time
Deferred income taxes DeferredTaxLiabilitiesNoncurrent $44.97M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $36.92M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $30.56M USD Point-in-time
Total liabilities Liabilities $187.15M USD Point-in-time
Total liabilities Liabilities $171.77M USD Point-in-time
Redeemable noncontrolling interests (Note 10) TemporaryEquityRedemptionValue $61.20M USD Point-in-time
Redeemable noncontrolling interests (Note 10) TemporaryEquityRedemptionValue $55.05M USD Point-in-time
Preferred Stock, $.01 par value per share; 10,000,000 shares authorized; 300,000 shares designated as Series B Junior Participating Preferred Stock and 300,000 shares designated as Series C Junior Participating Preferred Stock; none issued PreferredStockValue - USD Point-in-time
Preferred Stock, $.01 par value per share; 10,000,000 shares authorized; 300,000 shares designated as Series B Junior Participating Preferred Stock and 300,000 shares designated as Series C Junior Participating Preferred Stock; none issued PreferredStockValue - USD Point-in-time
Capital in excess of par value AdditionalPaidInCapitalCommonStock $227.99M USD Point-in-time
Capital in excess of par value AdditionalPaidInCapitalCommonStock $232.15M USD Point-in-time
Accumulated other comprehensive income (loss) AccumulatedOtherComprehensiveIncomeLossNetOfTax $312.00K USD Point-in-time
Accumulated other comprehensive income (loss) AccumulatedOtherComprehensiveIncomeLossNetOfTax $-124.00K USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $256.12M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $240.91M USD Point-in-time
Total HEICO shareholders' equity StockholdersEquity $469.11M USD Point-in-time
Total HEICO shareholders' equity StockholdersEquity $488.92M USD Point-in-time
Noncontrolling interests MinorityInterest $88.23M USD Point-in-time
Noncontrolling interests MinorityInterest $85.71M USD Point-in-time
Total shareholders' equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $490.66M USD Point-in-time
Total shareholders' equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $577.15M USD Point-in-time
Total shareholders' equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $554.83M USD Point-in-time
Total shareholders' equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $503.72M USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $781.64M USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $825.50M USD Point-in-time
Income Statement 34 line items
Line Item Tag Value Unit Period
Net sales SalesRevenueNet $135.53M USD 1 Quarter
Net sales SalesRevenueNet $174.22M USD 1 Quarter
Cost of sales CostOfRevenue $110.29M USD 1 Quarter
Cost of sales CostOfRevenue $85.42M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $31.55M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $25.58M USD 1 Quarter
Total operating costs and expenses CostsAndExpenses $110.99M USD 1 Quarter
Total operating costs and expenses CostsAndExpenses $141.85M USD 1 Quarter
Operating income OperatingIncomeLoss $24.54M USD 1 Quarter
Operating income OperatingIncomeLoss $32.37M USD 1 Quarter
Interest expense InterestExpenseDebt $54.00K USD 1 Quarter
Interest expense InterestExpenseDebt $119.00K USD 1 Quarter
Other income OtherNonoperatingIncomeExpense $155.00K USD 1 Quarter
Other income OtherNonoperatingIncomeExpense $55.00K USD 1 Quarter
Income before income taxes and noncontrolling interests IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $32.37M USD 1 Quarter
Income before income taxes and noncontrolling interests IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $24.58M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $9.85M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $8.55M USD 1 Quarter
Net income from consolidated operations ProfitLoss $16.03M USD 1 Quarter
Net income from consolidated operations ProfitLoss $22.52M USD 1 Quarter
Less: Net income attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $4.24M USD 1 Quarter
Less: Net income attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $5.45M USD 1 Quarter
Net income attributable to HEICO NetIncomeLoss $11.79M USD 1 Quarter
Net income attributable to HEICO NetIncomeLoss $17.07M USD 1 Quarter
Basic EarningsPerShareBasic $0.36 USD 1 Quarter
Basic EarningsPerShareBasic $0.52 USD 1 Quarter
Diluted EarningsPerShareDiluted $0.35 USD 1 Quarter
Diluted EarningsPerShareDiluted $0.50 USD 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 32.68M shares 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 33.09M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 33.91M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 33.70M shares 1 Quarter
Cash dividends per share CommonStockDividendsPerShareCashPaid $0.05 USD 1 Quarter
Cash dividends per share CommonStockDividendsPerShareCashPaid $0.06 USD 1 Quarter
Cash Flow Statement 66 line items
Line Item Tag Value Unit Period
Net income from consolidated operations ProfitLoss $16.03M USD 1 Quarter
Net income from consolidated operations ProfitLoss $22.52M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $4.31M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $4.25M USD 1 Quarter
Deferred income tax provision DeferredIncomeTaxExpenseBenefit $347.00K USD 1 Quarter
Deferred income tax provision DeferredIncomeTaxExpenseBenefit $429.00K USD 1 Quarter
Tax benefit from stock option exercises TaxBenefitFromStockOptionsExercised $7.70M USD 1 Quarter
Tax benefit from stock option exercises TaxBenefitFromStockOptionsExercised $947.00K USD 1 Quarter
Excess tax benefit from stock option exercises ExcessTaxBenefitFromShareBasedCompensationOperatingActivities $666.00K USD 1 Quarter
Excess tax benefit from stock option exercises ExcessTaxBenefitFromShareBasedCompensationOperatingActivities $6.36M USD 1 Quarter
Stock option compensation expense StockOptionPlanExpense $543.00K USD 1 Quarter
Stock option compensation expense StockOptionPlanExpense $308.00K USD 1 Quarter
Decrease in accounts receivable IncreaseDecreaseInReceivables $-4.84M USD 1 Quarter
Decrease in accounts receivable IncreaseDecreaseInReceivables $-3.40M USD 1 Quarter
Increase in inventories IncreaseDecreaseInInventories $4.08M USD 1 Quarter
Increase in inventories IncreaseDecreaseInInventories $2.04M USD 1 Quarter
Increase in prepaid expenses and other current assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $1.35M USD 1 Quarter
Increase in prepaid expenses and other current assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $2.53M USD 1 Quarter
Increase in trade accounts payable IncreaseDecreaseInAccountsPayable $1.18M USD 1 Quarter
Increase in trade accounts payable IncreaseDecreaseInAccountsPayable $1.03M USD 1 Quarter
Decrease in accrued expenses and other current liabilities IncreaseDecreaseInAccruedLiabilities $-4.49M USD 1 Quarter
Decrease in accrued expenses and other current liabilities IncreaseDecreaseInAccruedLiabilities $-8.01M USD 1 Quarter
Increase in income taxes payable IncreaseDecreaseInAccruedIncomeTaxesPayable $782.00K USD 1 Quarter
Increase in income taxes payable IncreaseDecreaseInAccruedIncomeTaxesPayable $4.39M USD 1 Quarter
Other AdjustmentsNoncashItemsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesOther $-69.00K USD 1 Quarter
Other AdjustmentsNoncashItemsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesOther $435.00K USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $23.55M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $20.28M USD 1 Quarter
Acquisitions, net of cash acquired PaymentsToAcquireBusinessesNetOfCashAcquired $22.59M USD 1 Quarter
Acquisitions, net of cash acquired PaymentsToAcquireBusinessesNetOfCashAcquired $2.18M USD 1 Quarter
Capital expenditures PaymentsToAcquirePropertyPlantAndEquipment $2.16M USD 1 Quarter
Capital expenditures PaymentsToAcquirePropertyPlantAndEquipment $1.64M USD 1 Quarter
Other PaymentsForProceedsFromOtherInvestingActivities $-6.00K USD 1 Quarter
Other PaymentsForProceedsFromOtherInvestingActivities $3.00K USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-4.34M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-24.22M USD 1 Quarter
Borrowings on revolving credit facility ProceedsFromLongTermLinesOfCredit $28.00M USD 1 Quarter
Borrowings on revolving credit facility ProceedsFromLongTermLinesOfCredit $1.00M USD 1 Quarter
Payments on revolving credit facility RepaymentsOfLongTermLinesOfCredit $18.00M USD 1 Quarter
Payments on revolving credit facility RepaymentsOfLongTermLinesOfCredit $13.00M USD 1 Quarter
Excess tax benefit from stock option exercises ExcessTaxBenefitFromShareBasedCompensationFinancingActivities $6.36M USD 1 Quarter
Excess tax benefit from stock option exercises ExcessTaxBenefitFromShareBasedCompensationFinancingActivities $666.00K USD 1 Quarter
Redemptions of common stock related to stock option exercises CommonStockIssuedRepurchasedAndRetiredRelatedToStockOptionExercises $-353.00K USD 1 Quarter
Redemptions of common stock related to stock option exercises CommonStockIssuedRepurchasedAndRetiredRelatedToStockOptionExercises $-4.37M USD 1 Quarter
Distributions to noncontrolling interests MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders $2.51M USD 1 Quarter
Distributions to noncontrolling interests MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders $2.27M USD 1 Quarter
Cash dividends paid PaymentsOfDividendsCommonStock $1.57M USD 1 Quarter
Cash dividends paid PaymentsOfDividendsCommonStock $1.99M USD 1 Quarter
Proceeds from stock option exercises ProceedsFromStockOptionsExercised $232.00K USD 1 Quarter
Proceeds from stock option exercises ProceedsFromStockOptionsExercised $295.00K USD 1 Quarter
Other ProceedsFromPaymentsForOtherFinancingActivities $-59.00K USD 1 Quarter
Other ProceedsFromPaymentsForOtherFinancingActivities $-34.00K USD 1 Quarter
Net cash provided by (used in) financing activities NetCashProvidedByUsedInFinancingActivities $-15.57M USD 1 Quarter
Net cash provided by (used in) financing activities NetCashProvidedByUsedInFinancingActivities $7.96M USD 1 Quarter
Effect of exchange rate changes on cash EffectOfExchangeRateOnCashAndCashEquivalents $29.00K USD 1 Quarter
Effect of exchange rate changes on cash EffectOfExchangeRateOnCashAndCashEquivalents $-10.00K USD 1 Quarter
Net increase in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $7.32M USD 1 Quarter
Net increase in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $357.00K USD 1 Quarter
Cash and cash equivalents at beginning of year CashAndCashEquivalentsAtCarryingValue $7.52M USD Point-in-time
Cash and cash equivalents at beginning of year CashAndCashEquivalentsAtCarryingValue $6.54M USD Point-in-time
Cash and cash equivalents at beginning of year CashAndCashEquivalentsAtCarryingValue $13.87M USD Point-in-time
Cash and cash equivalents at beginning of year CashAndCashEquivalentsAtCarryingValue $7.17M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $7.52M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $6.54M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $13.87M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $7.17M USD Point-in-time
Stockholders Equity 31 line items
Line Item Tag Value Unit Period
Balances StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $490.66M USD Point-in-time
Balances StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $577.15M USD Point-in-time
Balances StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $554.83M USD Point-in-time
Balances StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $503.72M USD Point-in-time
Net income NetIncomeIncludingRedeemableNoncontrollingInterests $19.59M USD 1 Quarter
Net income NetIncomeIncludingRedeemableNoncontrollingInterests $13.82M USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease $-23.00K USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease $436.00K USD 1 Quarter
Total comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $20.03M USD 1 Quarter
Total comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $13.80M USD 1 Quarter
Cash dividends DividendsCommonStockCash $-1.99M USD 1 Quarter
Cash dividends DividendsCommonStockCash $-1.57M USD 1 Quarter
Tax benefit from stock option exercises TaxBenefitFromStockOptionsExercised $7.70M USD 1 Quarter
Tax benefit from stock option exercises TaxBenefitFromStockOptionsExercised $947.00K USD 1 Quarter
Proceeds from stock option exercises StockIssuedDuringPeriodValueStockOptionsExercised $295.00K USD 1 Quarter
Proceeds from stock option exercises StockIssuedDuringPeriodValueStockOptionsExercised $232.00K USD 1 Quarter
Stock option compensation expense AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $543.00K USD 1 Quarter
Stock option compensation expense AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $308.00K USD 1 Quarter
Redemptions of common stock related to stock option exercises CommonStockIssuedRepurchasedAndRetiredRelatedToStockOptionExercises $-353.00K USD 1 Quarter
Redemptions of common stock related to stock option exercises CommonStockIssuedRepurchasedAndRetiredRelatedToStockOptionExercises $-4.37M USD 1 Quarter
Distributions to noncontrolling interests DistributionsToNoncontrollingInterests - USD 1 Quarter
Distributions to noncontrolling interests DistributionsToNoncontrollingInterests - USD 1 Quarter
Noncontrolling interests assumed related to acquisition NoncontrollingInterestsAssumedRelatedToAcquisition - USD 1 Quarter
Adjustments to redemption amount of redeemable noncontrolling interests MinorityInterestChangeInRedemptionValue $-302.00K USD 1 Quarter
Adjustments to redemption amount of redeemable noncontrolling interests MinorityInterestChangeInRedemptionValue $126.00K USD 1 Quarter
Other StockholdersEquityOther $-2.00K USD 1 Quarter
Other StockholdersEquityOther $2.00K USD 1 Quarter
Balances StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $490.66M USD Point-in-time
Balances StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $577.15M USD Point-in-time
Balances StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $554.83M USD Point-in-time
Balances StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $503.72M USD Point-in-time
Comprehensive Income 2 line items
Line Item Tag Value Unit Period
Cash dividends per share CommonStockDividendsPerShareCashPaid $0.05 USD 1 Quarter
Cash dividends per share CommonStockDividendsPerShareCashPaid $0.06 USD 1 Quarter

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

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