REVENUE

9 Months Ended

Jul. 31, 2025

Revenue from Contract with Customer [Abstract]

Revenue from Contract with Customer [Text Block]

REVENUE

Contract Balances

    Contract assets (unbilled receivables) represent revenue recognized on contracts using an over-time recognition model in excess of amounts invoiced to the customer. Contract liabilities (deferred revenue) represent customer advances and billings in excess of revenue recognized and are included within accrued expenses and other current liabilities and other long-term liabilities in the Company’s Condensed Consolidated Balance Sheets.

    Changes in the Company’s contract assets and liabilities for the nine months ended July 31, 2025 are as follows (in thousands):

	July 31, 2025	October 31, 2024	Change
Contract assets, current	$132,963	$112,235	$20,728
Contract liabilities, current	(84,611)	(83,903)	(708)
Contract liabilities, long-term	(88,886)	(61,843)	(27,043)
Total contract liabilities	(173,497)	(145,746)	(27,751)
Net contract liabilities	($40,534)	($33,511)	($7,023)

The increase in the Company's contract assets during the first nine months of fiscal 2025 mainly reflects additional unbilled receivables on certain customer contracts using an over-time recognition model in excess of billings on certain customer contracts, mainly at the FSG. The increase in the Company's total contract liabilities during the first nine months of fiscal 2025 principally reflects the receipt of advance deposits on certain customer contracts, mainly at the FSG.

The amount of revenue that the Company recognized during the nine and three months ended July 31, 2025 that was included in contract liabilities as of the beginning of fiscal 2025 was $58.7 million and $12.7 million, respectively.

Remaining Performance Obligations

Backlog, which the Company believes to be the equivalent of its remaining performance obligations, represents contractually committed or firm customer orders. As of July 31, 2025, the Company had $2,064.3 million of remaining performance obligations associated with firm contracts pertaining to many of the products offered by the FSG and ETG. The Company will recognize net sales as these obligations are satisfied. The Company expects to recognize $625.5 million of this amount during the remainder of fiscal 2025 and $1,438.8 million thereafter, of which more than half is expected to occur in fiscal 2026.

Disaggregation of Revenue

    The following table summarizes the Company’s net sales by product line for each operating segment (in thousands):

	Nine months ended July 31,		Three months ended July 31,
	2025	2024	2025	2024
Flight Support Group:
Aftermarket replacement parts (1)	$1,412,286	$1,231,578	$486,296	$432,699
Repair and overhaul parts and services (2)	543,366	433,658	201,261	149,895
Specialty products (3)	327,253	282,338	115,104	99,032
Total net sales	2,282,905	1,947,574	802,661	681,626
Electronic Technologies Group:
Electronic component parts primarily for defense, space and aerospace equipment (4)	830,393	732,378	290,680	257,974
Electronic component parts for equipment in various other industries (5)	197,952	195,015	65,183	64,155
Total net sales	1,028,345	927,393	355,863	322,129
Intersegment sales	(35,617)	(30,963)	(10,933)	(11,509)
Total consolidated net sales	$3,275,633	$2,844,004	$1,147,591	$992,246

(1)    Includes various jet engine and aircraft component replacement parts.

(2)    Includes primarily the sale of parts consumed in various repair and overhaul services on selected jet engine and aircraft components, avionics, instruments, composites and flight surfaces of commercial and military aircraft.

(3) Includes primarily the sale of specialty components such as thermal insulation blankets, renewable/reusable insulation systems, advanced niche components, complex composite assemblies, expanded foil mesh as well as machining, brazing, fabricating and welding services generally to original equipment manufacturers, and emergency descent devices and personnel and cargo parachute products and missile hardware and components.

(4)    Includes various component parts such as electro-optical infrared simulation and test equipment, electro-optical laser products, electro-optical, microwave and other power equipment, high-speed interface products, power conversion products, power distribution solutions, underwater locator beacons, emergency locator transmission beacons, traveling wave tube amplifiers, microwave power modules, a wide variety of memory products and radio frequency (RF) and microwave products, crashworthy and ballistically self-sealing auxiliary fuel systems, high performance communications and electronic intercept receivers and tuners, high performance active antenna systems and airborne antennas, technical surveillance countermeasures (TSCM) equipment, custom high power filters and filter assemblies, radiation assurance services and products, high-reliability, complex, passive electronic components and rotary joint assemblies, and proprietary in-cabin power and entertainment components and subsystems, and cockpit displays and other avionics components.

(5)    Includes various component parts such as electromagnetic and radio frequency interference shielding, high voltage interconnection devices, high voltage advanced power electronics, harsh environment connectivity products, custom molded cable assemblies, silicone material for a variety of demanding applications, and rugged small form-factor embedded computing solutions, and high performance test sockets and adaptors.

    The following table summarizes the Company’s net sales by industry for each operating segment (in thousands):

	Nine months ended July 31,		Three months ended July 31,
	2025	2024	2025	2024
Flight Support Group:
Aerospace	$1,721,374	$1,439,507	$615,053	$499,917
Defense and Space	516,287	449,838	172,286	161,160
Other (1)	45,244	58,229	15,322	20,549
Total net sales	2,282,905	1,947,574	802,661	681,626
Electronic Technologies Group:
Defense and Space	524,577	470,427	182,590	169,670
Other (2)	309,864	295,089	104,524	94,647
Aerospace	193,904	161,877	68,749	57,812
Total net sales	1,028,345	927,393	355,863	322,129
Intersegment sales	(35,617)	(30,963)	(10,933)	(11,509)
Total consolidated net sales	$3,275,633	$2,844,004	$1,147,591	$992,246

(1)    Principally industrial products.

(2)    Principally other electronics and medical products.