ACQUISITIONS (Tables)

9 Months Ended

Jul. 31, 2012

Acquisitions (Tables) [Abstract]

Schedule of Purchase Price Allocation [Table Text Block]

The following table summarizes the allocation of the purchase price of Switchcraft to the estimated fair values of the tangible and identifiable intangible assets acquired and liabilities assumed (in thousands).

Assets acquired:
Goodwill		$76,581
Identifiable intangible assets	72,500
Inventories	13,086
Property, plant and equipment	10,166
Accounts receivable	6,123
Other assets	1,570
Total assets acquired, excluding cash		$180,026
Liabilities assumed:
Deferred income taxes		$30,448
Accrued expenses	2,252
Income taxes payable	2,016
Accounts payable	1,889
Other liabilities	258
Total liabilities assumed		$36,863
Net assets acquired, excluding cash		$143,163

Business Acquisition, Pro Forma Information [Table Text Block]

The following table presents unaudited pro forma financial information for the nine and three months ended July 31, 2011 as if the acquisition of Switchcraft had occurred as of November 1, 2010 (in thousands).

	Nine months ended		Three months ended
	July 31, 2011		July 31, 2011
Net sales		$600,593		$212,480
Net income from consolidated operations		$74,877		$27,944
Net income attributable to HEICO		$58,142		$21,954
Net income per share attributable to HEICO shareholders:
Basic		$1.12		$.42
Diluted		$1.09		$.41

The pro forma financial information is presented for comparative purposes only and is not necessarily indicative of the results of operations that actually would have been achieved if the acquisition had taken place as of November 1, 2010. The unaudited pro forma financial information includes adjustments to historical amounts such as additional amortization expense related to intangible assets acquired, increased interest expense associated with borrowings to finance the acquisition and inventory purchase accounting adjustments charged to cost of sales as the inventory is sold. Had the acquisition been consummated as of November 1, 2010, net sales, net income from consolidated operations, net income attributable to HEICO, and basic and diluted net income per share attributable to HEICO shareholders on a pro forma basis for the nine and three months ended July 31, 2012 would not have been materially different than the reported amounts.