ACQUISITIONS (Tables) - Exxelia

9 Months Ended

Jul. 31, 2023

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						(11,763)
Total consideration paid, net						$504,022

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						$327,178
Customer relationships						61,943
Intellectual property						44,044
Trade name						21,703
Inventories						54,688
Property, plant and equipment						50,896
Accounts receivable						41,670
Other assets						13,509
Total assets acquired, excluding cash						615,631

Liabilities assumed:
Deferred income taxes						34,691
Accounts payable						22,585
Accrued expenses						18,366
Short-term debt						15,082
Other liabilities						8,730
Total liabilities assumed						99,454

Noncontrolling interests in consolidated subsidiaries						12,155

Net assets acquired, excluding cash						$504,022

Business Acquisition, Pro Forma Information

The following table presents unaudited pro forma financial information for the nine and three months ended July 31, 2023 and July 31, 2022 as if the acquisition of Exxelia had occurred as of November 1, 2021 (in thousands, except per share data):


	Nine months ended July 31,		Three months ended July 31,
	2023	2022	2023	2022
Net sales	$2,071,061	$1,747,124	$722,902	$622,071
Net income from consolidated operations	$347,466	$264,754	$113,185	$91,016
Net income attributable to HEICO	$316,424	$239,022	$102,367	$80,461
Net income per share attributable to HEICO shareholders:
Basic	$2.31	$1.76	$.75	$.59
Diluted	$2.28	$1.73	$.74	$.58