XML 25 R11.htm IDEA: XBRL DOCUMENT v3.22.4
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Oct. 31, 2022
Oct. 31, 2021
Oct. 31, 2020
Operating Activities:      
Net income from consolidated operations $ 390,623 $ 329,758 $ 335,855
Adjustments to reconcile net income from consolidated operations to net cash provided by operating activities:      
Depreciation and amortization 96,333 93,019 88,561
Share-based compensation expense 12,646 9,058 10,134
Employer contributions to HEICO Savings and Investment Plan 12,180 10,091 9,576
Deferred Income Taxes and Tax Credits 8,876 (15,635) (5,998)
Change in accrued contingent consideration (7,631) 1,246 515
Payment of contingent consideration     (175)
Changes in operating assets and liabilities, net of acquisitions:      
Accounts receivable (29,272) (27,300) 71,515
Contract assets (4,148) 376 (16,398)
Inventories (89,186) (10,121) (28,315)
Prepaid expenses and other current assets (10,077) (4,795) 2,471
Trade accounts payable 25,567 6,907 (30,327)
Accrued expenses and other current liabilities 34,122 33,634 (37,905)
Income taxes payable 11,597 2,821 (9,586)
Change in long-term liabilities and assets related to HEICO LCP 15,398 12,781 14,836
Other 828 2,244 4,366
Net cash provided by operating activities 467,856 444,084 409,125
Investing Activities:      
Acquisitions, net of cash acquired (347,308) (136,500) (163,939)
Capital expenditures (31,982) (36,183) (22,940)
Net Investment Related to HEICO LCP (15,300) (14,000) (15,900)
Other (1,239) 3,229 3,736
Net cash used in investing activities (395,829) (183,454) (199,043)
Financing Activities:      
Borrowings on revolving credit facility 262,000   245,000
Payments on revolving credit facility (212,000) (505,000) (68,000)
Redemption of common stock related to stop option exercises (25,946) (3,791) (12,120)
Distributions to noncontrolling interests (25,092) (27,963) (17,908)
Cash dividends paid (24,466) (23,002) (21,552)
Acquisitions of noncontrolling interests (8,735) (2,336) (7,475)
Revolving credit facility issuance costs (1,010) (1,468)  
Proceeds from stock option exercises 2,352 5,344 6,955
Payment of contingent consideration (320)   (325)
Proceeds from Noncontrolling Interests   534 14,329
Other (616) (1,286) (1,161)
Net cash (used in) provided by financing activities (33,833) (558,968) 137,743
Effect of exchange rate changes on cash (6,988) (216) 2,026
Net increase (decrease) in cash and cash equivalents 31,206 (298,554) 349,851
Cash and cash equivalents at beginning of year 108,298 406,852 57,001
Cash and cash equivalents at end of year $ 139,504 $ 108,298 $ 406,852