ACQUISITIONS (Tables)

6 Months Ended

Apr. 30, 2023

Business Acquisition [Line Items]

Schedule of Fair Value of Total Consideration

The following table summarizes the total consideration for the acquisition of Exxelia (in thousands):

Cash paid	$515,785
Less: cash acquired	(14,234)
Total consideration paid, net	$501,551

Exxelia

Business Acquisition [Line Items]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table summarizes the allocation of the total consideration for the acquisition of Exxelia to the estimated fair values of the tangible and identifiable intangible assets acquired and liabilities and noncontrolling interests assumed (in thousands):

Assets acquired:
Goodwill	$332,033
Customer relationships	64,935
Intellectual property	44,044
Trade name	21,703
Inventories	55,922
Property, plant and equipment	42,165
Accounts receivable	41,113
Other assets	11,254
Total assets acquired, excluding cash	613,169
Liabilities assumed:
Deferred income taxes	31,975
Accounts payable	22,369
Accrued expenses	18,383
Other liabilities	24,231
Total liabilities assumed	96,958
Noncontrolling interests in consolidated subsidiaries	14,660
Net assets acquired, excluding cash	$501,551

Business Acquisition, Pro Forma Information

The following table presents unaudited pro forma financial information for the six and three months ended April 30, 2023 and April 30, 2022 as if the acquisition of Exxelia had occurred as of November 1, 2021 (in thousands, except per share data):

	Six months ended April 30,		Three months ended April 30,
	2023	2022	2023	2022
Net sales	$1,348,159	$1,125,052	$687,841	$586,039
Net income from consolidated operations	$234,185	$173,002	$115,568	$85,883
Net income attributable to HEICO	$213,969	$157,855	$105,544	$77,901
Net income per share attributable to HEICO shareholders:
Basic	$1.56	$1.16	$.77	$.57
Diluted	$1.54	$1.14	$.76	$.57