XML 27 R11.htm IDEA: XBRL DOCUMENT v3.23.4
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Oct. 31, 2023
Oct. 31, 2022
Oct. 31, 2021
Operating Activities:      
Net income from consolidated operations $ 444,383 $ 390,623 $ 329,758
Adjustments to reconcile net income from consolidated operations to net cash provided by operating activities:      
Depreciation and amortization 130,043 96,333 93,019
Share-based compensation expense 15,475 12,646 9,058
Employer contributions to HEICO Savings and Investment Plan 15,276 12,180 10,091
Business Combination, Reversal of Remaining Contingent Consideration, Liability (9,057) 0 0
Payment for Contingent Consideration Liability, Operating Activities (6,299) 0 0
Change in accrued contingent consideration (686) (7,631) 1,246
Deferred Income Tax Expense (Benefit) (26,531) 8,876 (15,635)
Changes in operating assets and liabilities, net of acquisitions:      
Accounts receivable (65,595) (29,272) (27,300)
Contract assets (11,642) (4,148) 376
Inventories (124,782) (89,186) (10,121)
Prepaid expenses and other current assets 5,599 (10,077) (4,795)
Trade accounts payable 10,975 25,567 6,907
Accrued expenses and other current liabilities 72,589 34,122 33,634
Income taxes payable (4,505) 11,597 2,821
Change in long-term liabilities and assets related to HEICO LCP 13,512 15,398 12,781
Other (10,020) 828 2,244
Net cash provided by operating activities 448,735 467,856 444,084
Investing Activities:      
Acquisitions, net of cash acquired (2,421,788) (347,308) (136,500)
Capital expenditures (49,434) (31,982) (36,183)
Net Investment Related to HEICO LCP (18,892) (15,300) (14,000)
Other 5,647 (1,239) 3,229
Net cash used in investing activities (2,484,467) (395,829) (183,454)
Financing Activities:      
Proceeds from Issuance of Senior Long-Term Debt 1,189,452 0 0
Borrowings on revolving credit facility 1,964,000 262,000 0
Payments on revolving credit facility (989,000) (212,000) (505,000)
Distributions to noncontrolling interests (36,591) (25,092) (27,963)
Cash dividends paid (27,370) (24,466) (23,002)
Redemption of common stock related to stop option exercises (14,847) (25,946) (3,791)
Payment for Contingent Consideration Liability, Financing Activities (12,610) (320) 0
Revolving credit facility issuance costs (10,060) (1,010) (1,468)
Acquisitions of noncontrolling interests (2,733) (8,735) (2,336)
Proceeds from stock option exercises 6,713 2,352 5,344
Proceeds from Noncontrolling Interests 0 0 534
Other (1,905) (616) (1,286)
Net cash (used in) provided by financing activities 2,065,049 (33,833) (558,968)
Effect of exchange rate changes on cash 2,227 (6,988) (216)
Net increase (decrease) in cash and cash equivalents 31,544 31,206 (298,554)
Cash and cash equivalents at beginning of year 139,504 108,298 406,852
Cash and cash equivalents at end of year $ 171,048 $ 139,504 $ 108,298