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ACQUISITIONS (Tables) - Exxelia | 9 Months Ended
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Jul. 31, 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 |  | (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 |

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