Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | ||
Oct. 31, 2013 | Nov. 29, 2013 | Apr. 30, 2013 | |
Document And Entity Information [Abstract] | ' | ' | ' |
Document Type | '10-K | ' | ' |
Amendment Flag | 'false | ' | ' |
Document Period End Date | 31-Oct-13 | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Entity Registrant Name | 'NORDSON CORP | ' | ' |
Entity Central Index Key | '0000072331 | ' | ' |
Current Fiscal Year End Date | '--10-31 | ' | ' |
Entity Well-known Seasoned Issuer | 'Yes | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Filer Category | 'Large Accelerated Filer | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 64,256,419 | ' |
Entity Public Float | ' | ' | $4,445,488,000 |
Consolidated_Statements_of_Inc
Consolidated Statements of Income (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Oct. 31, 2013 | Oct. 31, 2012 | Oct. 31, 2011 |
Income Statement [Abstract] | ' | ' | ' |
Sales | $1,542,921 | $1,409,578 | $1,233,159 |
Operating costs and expenses: | ' | ' | ' |
Cost of sales | 676,777 | 584,249 | 484,727 |
Cost of sales - restructuring | ' | 2,040 | ' |
Selling and administrative expenses | 541,169 | 485,285 | 429,489 |
Severance and restructuring costs | 1,126 | 2,524 | 1,589 |
Long-lived asset impairments | ' | ' | 1,811 |
Total operating costs and expenses | 1,219,072 | 1,074,098 | 917,616 |
Operating profit | 323,849 | 335,480 | 315,543 |
Other income (expense): | ' | ' | ' |
Interest expense | -14,841 | -11,153 | -5,069 |
Interest and investment income | 421 | 463 | 569 |
Other - net | 1,694 | 1,463 | 3,518 |
Total other income (expense) | -12,726 | -9,227 | -982 |
Income before income taxes | 311,123 | 326,253 | 314,561 |
Income tax provision: | ' | ' | ' |
Current | 84,184 | 91,596 | 91,481 |
Deferred | 5,122 | 9,828 | 716 |
Income taxes | 89,306 | 101,424 | 92,197 |
Net income | $221,817 | $224,829 | $222,364 |
Average common shares | 64,214 | 64,407 | 67,616 |
Incremental common shares attributable to outstanding stock options, restricted stock and deferred stock-based compensation | 694 | 696 | 809 |
Average common shares and common share equivalents | 64,908 | 65,103 | 68,425 |
Basic earnings per share | $3.45 | $3.49 | $3.29 |
Diluted earnings per share | $3.42 | $3.45 | $3.25 |
Dividends declared per common share | $0.63 | $0.53 | $0.44 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Oct. 31, 2013 | Oct. 31, 2012 | Oct. 31, 2011 |
Statement Of Income And Comprehensive Income [Abstract] | ' | ' | ' |
Net income | $221,817 | $224,829 | $222,364 |
Components of other comprehensive income (loss), net of tax: | ' | ' | ' |
Translation adjustments | 465 | -10,806 | 562 |
Pension and postretirement benefit plans: | ' | ' | ' |
Prior service (cost) credit arising during the year | -1,050 | 2,142 | 714 |
Net actuarial gain (loss) arising during the year | 38,149 | -23,829 | -20,966 |
Amortization of prior service cost | -375 | -183 | -300 |
Amortization of actuarial loss | 9,657 | 7,899 | 6,284 |
Settlement loss recognized | ' | 563 | ' |
Total pension and postretirement benefit plans | 46,381 | -13,408 | -14,268 |
Total other comprehensive income (loss) | 46,846 | -24,214 | -13,706 |
Total comprehensive income | $268,663 | $200,615 | $208,658 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Oct. 31, 2013 | Oct. 31, 2012 |
In Thousands, unless otherwise specified | ||
Current assets: | ' | ' |
Cash and cash equivalents | $42,375 | $41,239 |
Marketable securities | ' | 279 |
Receivables - net | 308,707 | 324,563 |
Inventories - net | 198,401 | 169,585 |
Deferred income taxes | 29,354 | 29,929 |
Prepaid expenses | 21,733 | 21,028 |
Total current assets | 600,570 | 586,623 |
Property, plant and equipment - net | 200,979 | 174,931 |
Goodwill | 939,211 | 812,817 |
Intangible assets - net | 269,073 | 227,891 |
Other assets | 32,456 | 27,253 |
Total assets | 2,042,289 | 1,829,515 |
Current liabilities: | ' | ' |
Notes payable | 3,604 | 50,001 |
Accounts payable | 62,123 | 67,443 |
Income taxes payable | 14,522 | 27,354 |
Accrued liabilities | 110,528 | 117,376 |
Customer advance payments | 28,341 | 20,894 |
Current maturities of long-term debt | 10,832 | 55,668 |
Current obligations under capital leases | 5,521 | 4,948 |
Total current liabilities | 235,471 | 343,684 |
Long-term debt | 638,158 | 528,041 |
Obligations under capital leases | 10,112 | 10,945 |
Pension obligations | 103,754 | 161,399 |
Postretirement obligations | 59,794 | 69,851 |
Deferred income taxes | 79,977 | 26,159 |
Other liabilities | 27,160 | 19,666 |
Shareholders' equity: | ' | ' |
Preferred shares, no par value; 10,000 shares authorized; none issued | ' | ' |
Common shares, no par value; 160,000 shares authorized; 98,023 shares issued at October 31, 2013 and 2012 | 12,253 | 12,253 |
Capital in excess of stated value | 304,549 | 287,581 |
Retained earnings | 1,362,584 | 1,181,245 |
Accumulated other comprehensive loss | -57,380 | -104,226 |
Common shares in treasury, at cost | -734,143 | -707,083 |
Total shareholders' equity | 887,863 | 669,770 |
Total liabilities and shareholders' equity | $2,042,289 | $1,829,515 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Oct. 31, 2013 | Oct. 31, 2012 |
In Thousands, unless otherwise specified | ||
Statement Of Financial Position [Abstract] | ' | ' |
Preferred shares, par value | ' | ' |
Preferred shares, authorized | 10,000 | 10,000 |
Preferred shares, issued | 0 | 0 |
Common shares, par value | ' | ' |
Common shares, authorized | 160,000 | 160,000 |
Common shares, issued | 98,023 | 98,023 |
Consolidated_Statements_of_Sha
Consolidated Statements of Shareholders' Equity (USD $) | Total | Common Shares [Member] | Capital in Excess of Stated Value [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Common Shares in Treasury, At Cost [Member] |
In Thousands | ||||||
Balance at beginning of year at Nov. 01, 2010 | ' | $12,253 | $255,595 | $797,695 | ($66,306) | ($494,165) |
Balance at beginning of year at Nov. 01, 2010 | ' | 30,152 | ' | ' | ' | ' |
Shares issued under company stock and employee benefit plans | ' | -936 | ' | ' | ' | ' |
Purchase of treasury shares | ' | 3,206 | ' | ' | ' | ' |
Translation adjustments | 562 | ' | ' | ' | 562 | ' |
Shares issued under company stock and employee benefit plans | ' | ' | 1,564 | ' | ' | 13,315 |
Net income | 222,364 | ' | ' | 222,364 | ' | ' |
Tax benefit from stock option and restricted stock transactions | ' | ' | 6,924 | ' | ' | ' |
Dividends paid ($.63 per share in 2013, $.525 per share in 2012, and $.44 per share in 2011) | ' | ' | ' | -29,838 | ' | ' |
Purchase of treasury shares | ' | ' | ' | ' | ' | -143,217 |
Net prior service cost arising during the year, net of tax of $840 in 2013, $(1,078) in 2012 and $(315) in 2011 | ' | ' | ' | ' | 414 | ' |
Stock-based compensation | ' | ' | 8,845 | ' | ' | ' |
Net actuarial gain (loss) arising during the year, net of tax of $(28,644) in 2013, $7,791 in 2012 and $9,002 in 2011 | ' | ' | ' | ' | -14,682 | ' |
Balance at end of year at Oct. 31, 2011 | 571,323 | 12,253 | 272,928 | 990,221 | -80,012 | -624,067 |
Balance at end of year at Oct. 31, 2011 | ' | 32,422 | ' | ' | ' | ' |
Shares issued under company stock and employee benefit plans | ' | -571 | ' | ' | ' | ' |
Purchase of treasury shares | ' | 1,915 | ' | ' | ' | ' |
Translation adjustments | -10,806 | ' | ' | ' | -10,806 | ' |
Shares issued under company stock and employee benefit plans | ' | ' | -504 | ' | ' | 7,762 |
Net income | 224,829 | ' | ' | 224,829 | ' | ' |
Settlement loss recognized, net of tax of $(331) | 563 | ' | ' | ' | 563 | ' |
Tax benefit from stock option and restricted stock transactions | ' | ' | 4,792 | ' | ' | ' |
Dividends paid ($.63 per share in 2013, $.525 per share in 2012, and $.44 per share in 2011) | ' | ' | ' | -33,805 | ' | ' |
Purchase of treasury shares | ' | ' | ' | ' | ' | -90,778 |
Net prior service cost arising during the year, net of tax of $840 in 2013, $(1,078) in 2012 and $(315) in 2011 | ' | ' | ' | ' | 1,959 | ' |
Stock-based compensation | ' | ' | 10,365 | ' | ' | ' |
Net actuarial gain (loss) arising during the year, net of tax of $(28,644) in 2013, $7,791 in 2012 and $9,002 in 2011 | ' | ' | ' | ' | -15,930 | ' |
Balance at end of year at Oct. 31, 2012 | 669,770 | 12,253 | 287,581 | 1,181,245 | -104,226 | -707,083 |
Balance at end of year at Oct. 31, 2012 | ' | 33,766 | ' | ' | ' | ' |
Shares issued under company stock and employee benefit plans | ' | -468 | ' | ' | ' | ' |
Purchase of treasury shares | ' | 507 | ' | ' | ' | ' |
Translation adjustments | 465 | ' | ' | ' | 465 | ' |
Shares issued under company stock and employee benefit plans | ' | ' | -325 | ' | ' | 6,490 |
Net income | 221,817 | ' | ' | 221,817 | ' | ' |
Tax benefit from stock option and restricted stock transactions | ' | ' | 5,531 | ' | ' | ' |
Dividends paid ($.63 per share in 2013, $.525 per share in 2012, and $.44 per share in 2011) | ' | ' | ' | -40,478 | ' | ' |
Purchase of treasury shares | ' | ' | ' | ' | ' | -33,550 |
Net prior service cost arising during the year, net of tax of $840 in 2013, $(1,078) in 2012 and $(315) in 2011 | ' | ' | ' | ' | -1,425 | ' |
Stock-based compensation | ' | ' | 11,762 | ' | ' | ' |
Net actuarial gain (loss) arising during the year, net of tax of $(28,644) in 2013, $7,791 in 2012 and $9,002 in 2011 | ' | ' | ' | ' | 47,806 | ' |
Balance at end of year at Oct. 31, 2013 | $887,863 | $12,253 | $304,549 | $1,362,584 | ($57,380) | ($734,143) |
Balance at end of year at Oct. 31, 2013 | ' | 33,805 | ' | ' | ' | ' |
Consolidated_Statements_of_Sha1
Consolidated Statements of Shareholders' Equity (Parenthetical) (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Oct. 31, 2013 | Oct. 31, 2012 | Oct. 31, 2011 |
Retained Earnings [Member] | ' | ' | ' |
Dividends paid per share | $0.63 | $0.53 | $0.44 |
Accumulated Other Comprehensive Income (Loss) [Member] | ' | ' | ' |
Tax on settlement loss recognized | ' | ($331) | ' |
Tax on net prior service cost (credit) occurring during the year | 840 | -1,078 | -315 |
Tax on net actuarial loss occurring during the year | ($28,644) | $7,791 | $9,002 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Oct. 31, 2013 | Oct. 31, 2012 | Oct. 31, 2011 |
Cash flows from operating activities: | ' | ' | ' |
Net income | $221,817 | $224,829 | $222,364 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' | ' |
Depreciation | 31,766 | 24,469 | 20,758 |
Amortization | 22,672 | 14,521 | 8,018 |
Long-lived asset impairments | ' | ' | 1,811 |
Provision for losses on receivables | 889 | 710 | 977 |
Deferred income taxes | 5,122 | 9,828 | 716 |
Tax benefit from the exercise of stock options | -5,531 | -4,792 | -6,924 |
Non-cash stock compensation | 11,762 | 10,365 | 8,845 |
(Gain)/loss on sale of property, plant and equipment | -1,879 | -638 | 362 |
Other non-cash | 760 | -401 | -1,519 |
Changes in operating assets and liabilities: | ' | ' | ' |
Receivables | 19,971 | -49,595 | -4,474 |
Inventories | -10,741 | 171 | -14,666 |
Prepaid expenses | -75 | -1,201 | -1,619 |
Other noncurrent assets | -5,898 | -1,290 | 875 |
Accounts payable | -2,549 | 4,882 | 4,389 |
Income taxes payable | -8,552 | 18,855 | -1,993 |
Accrued liabilities | -19,130 | 12,923 | 3,263 |
Customer advance payments | -839 | 2,124 | -2,382 |
Other noncurrent liabilities | 7,195 | 12,156 | 12,035 |
Other | 1,616 | -3,518 | -4,109 |
Net cash provided by operating activities | 268,376 | 274,398 | 246,727 |
Cash flows from investing activities: | ' | ' | ' |
Additions to property, plant and equipment | -47,219 | -30,959 | -20,239 |
Proceeds from sale of property, plant and equipment | 3,847 | 6,120 | 161 |
Proceeds from sale of product lines | ' | 2,213 | ' |
Acquisition of businesses, net of cash acquired | -176,333 | -443,864 | -292,980 |
Investment in equity affiliate | -1,116 | ' | ' |
Proceeds from sale of (purchases of) marketable securities | 276 | -279 | 7,552 |
Net cash used in investing activities | -220,545 | -466,769 | -305,506 |
Cash flows from financing activities: | ' | ' | ' |
Proceeds from short-term borrowings | 5,036 | 250,001 | 190 |
Repayment of short-term borrowings | -51,505 | -200,033 | -2,361 |
Proceeds from long-term debt | 270,283 | 401,175 | 1,039,800 |
Repayment of long-term debt | -208,067 | -136,589 | -830,937 |
Repayment of capital lease obligations | -5,842 | -5,203 | -4,738 |
Issuance of common shares | 6,018 | 4,934 | 9,652 |
Purchase of treasury shares | -33,402 | -88,455 | -137,989 |
Tax benefit from the exercise of stock options | 5,531 | 4,792 | 6,924 |
Dividends paid | -40,478 | -33,805 | -29,838 |
Net cash provided by (used in) financing activities | -52,426 | 196,817 | 50,703 |
Effect of exchange rate changes on cash | 5,731 | -615 | 3,155 |
Increase (decrease) in cash and cash equivalents | 1,136 | 3,831 | -4,921 |
Cash and cash equivalents at beginning of year | 41,239 | 37,408 | 42,329 |
Cash and cash equivalents at end of year | $42,375 | $41,239 | $37,408 |
Significant_Accounting_Policie
Significant Accounting Policies | 12 Months Ended | ||||||||
Oct. 31, 2013 | |||||||||
Accounting Policies [Abstract] | ' | ||||||||
Significant Accounting Policies | ' | ||||||||
Note 1 — Significant accounting policies | |||||||||
Consolidation — The consolidated financial statements include the accounts of Nordson Corporation and its majority-owned and controlled subsidiaries. Investments in affiliates and joint ventures in which our ownership is 50 percent or less or in which we do not have control but have the ability to exercise significant influence, are accounted for under the equity method. All significant intercompany accounts and transactions have been eliminated in consolidation. | |||||||||
Use of estimates — The preparation of financial statements in conformity with generally accepted accounting principles in the United States requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and notes. Actual amounts could differ from these estimates. | |||||||||
Presentation — Certain amounts for 2012 have been reclassified to conform to 2013 presentation. | |||||||||
Fiscal year — Our fiscal year is November 1 through October 31. | |||||||||
Revenue recognition — Most of our revenues are recognized upon shipment, provided that persuasive evidence of an arrangement exists, the sales price is fixed or determinable, collectability is reasonably assured, and title and risk of loss have passed to the customer. | |||||||||
A relative selling price hierarchy exists for determining the selling price of deliverables in multiple deliverable arrangements. Vendor specific objective evidence (VSOE) is used, if available. Third-party evidence (TPE) is used if VSOE is not available, and best estimated selling price (BESP) is used if neither VSOE nor TPE is available. Our multiple deliverable arrangements include installation, installation supervision, training, and spare parts, which tend to be completed in a short period of time, at an insignificant cost, and utilizing skills not unique to us, therefore, are typically regarded as inconsequential or perfunctory. Revenue for undelivered items is deferred and included within accrued liabilities in the accompanying balance sheet. Revenues deferred in 2013, 2012 and 2011 were not material. | |||||||||
Shipping and handling costs — Amounts billed to customers for shipping and handling are recorded as revenue. Shipping and handling expenses are included in cost of sales. | |||||||||
Advertising costs — Advertising costs are expensed as incurred and were $12,480, $10,935 and $9,008 in 2013, 2012 and 2011, respectively. | |||||||||
Research and development — Research and development costs are expensed as incurred and were $47,973, $36,535 and $26,997 in 2013, 2012 and 2011, respectively. | |||||||||
Earnings per share — Basic earnings per share are computed based on the weighted-average number of common shares outstanding during each year, while diluted earnings per share are based on the weighted-average number of common shares and common share equivalents outstanding. Common share equivalents consist of shares issuable upon exercise of stock options computed using the treasury stock method, as well as restricted stock and deferred stock-based compensation. Options whose exercise price is higher than the average market price are excluded from the calculation of diluted earnings per share because the effect would be anti-dilutive. No options for common shares were excluded from the 2013 diluted earnings per share calculation. Options for 75 and 71 common shares were excluded from the diluted earnings per share calculation in 2012 and 2011, respectively, because their effect would have been anti-dilutive. Under the long-term incentive plan, executive officers and selected other key employees receive common share awards based on corporate performance measures over three-year performance periods. Awards for which performance measures have not been met were excluded from the calculation of diluted earnings per share. | |||||||||
Cash and cash equivalents — Highly liquid instruments with maturities of 90 days or less at date of purchase are considered to be cash equivalents. Cash and cash equivalents are carried at cost, which approximates fair value. | |||||||||
Allowance for doubtful accounts — An allowance for doubtful accounts is maintained for estimated losses resulting from the inability of customers to make required payments. The amount of the allowance is determined principally on the basis of past collection experience and known factors regarding specific customers. Accounts are written off against the allowance when it becomes evident that collection will not occur. | |||||||||
Inventories — Inventories are valued at the lower of cost or market. Cost was determined using the last-in, first-out (LIFO) method for 21 percent of consolidated inventories at October 31, 2013, and 24 percent at October 31, 2012. The first-in, first-out (FIFO) method is used for all other inventories. Consolidated inventories would have been $6,797 and $6,810 higher than reported at October 31, 2013 and October 31, 2012, respectively, had the FIFO method, which approximates current cost, been used for valuation of all inventories. | |||||||||
Property, plant and equipment and depreciation — Property, plant and equipment are carried at cost. Additions and improvements that extend the lives of assets are capitalized, while expenditures for repairs and maintenance are expensed as incurred. Plant and equipment are depreciated for financial reporting purposes using the straight-line method over the estimated useful lives of the assets or, in the case of property under capital leases, over the terms of the leases. Leasehold improvements are depreciated over the shorter of the lease term or their useful lives. Useful lives are as follows: | |||||||||
Land improvements | 15-25 years | ||||||||
Buildings | 20-40 years | ||||||||
Machinery and equipment | 3-12 years | ||||||||
Enterprise management systems | 5-13 years | ||||||||
Depreciation expense is included in cost of sales and selling and administrative expenses. | |||||||||
Internal use software costs are expensed or capitalized depending on whether they are incurred in the preliminary project stage, application development stage or the post-implementation stage. Amounts capitalized are amortized over the estimated useful lives of the software beginning with the project’s completion. All re-engineering costs are expensed as incurred. Interest costs on significant capital projects are capitalized. No interest was capitalized in 2013, 2012 or 2011. | |||||||||
Goodwill and intangible assets — Goodwill is the excess of cost of an acquired entity over the amounts assigned to assets acquired and liabilities assumed in a business combination. The majority of goodwill relates to and is assigned directly to specific reporting units. Goodwill is not amortized but is subject to annual impairment testing. Our annual impairment testing is performed as of August 1. Testing is done more frequently if an event occurs or circumstances change that would indicate the fair value of a reporting unit is less than the carrying amount of those assets. | |||||||||
Other amortizable intangible assets, which consist primarily of patent/technology costs, customer relationships, noncompete agreements, and trade names, are amortized over their useful lives on a straight-line basis. At October 31, 2013, the weighted average useful lives for each major category of amortizable intangible assets were: | |||||||||
Patent/technology costs | 14 years | ||||||||
Customer relationships | 18 years | ||||||||
Noncompete agreements | 5 years | ||||||||
Trade names | 16 years | ||||||||
Foreign currency translation — The financial statements of subsidiaries outside the United States are generally measured using the local currency as the functional currency. Assets and liabilities of these subsidiaries are translated at the rates of exchange at the balance sheet dates. Income and expense items are translated at average monthly rates of exchange. The resulting translation adjustments are included in accumulated other comprehensive income (loss), a separate component of shareholders’ equity. Generally, gains and losses from foreign currency transactions, including forward contracts, of these subsidiaries and the United States parent are included in net income. Gains and losses from intercompany foreign currency transactions of a long-term investment nature are included in accumulated other comprehensive income (loss). | |||||||||
Accumulated other comprehensive loss — Accumulated other comprehensive loss at October 31, 2013 and 2012 consisted of: | |||||||||
2013 | 2012 | ||||||||
Translation adjustments | $ | 26,699 | $ | 26,234 | |||||
Pension and postretirement benefit plan adjustments | (84,079 | ) | (130,460 | ) | |||||
$ | (57,380 | ) | $ | (104,226 | ) | ||||
Warranties — Our standard warranty program provides for repair or replacement of defective products within a specified time period (generally one year) measured from the date of delivery or first use. The estimate for future warranty-related costs is calculated based on actual historical return rates. Based on analysis of return rates and other factors, warranty provisions are adjusted as necessary. The liability for warranty costs is included in other accrued liabilities in the Consolidated Balance Sheet. | |||||||||
Following is a reconciliation of the product warranty liability for 2013 and 2012: | |||||||||
2013 | 2012 | ||||||||
Balance at beginning of year | $ | 8,929 | $ | 6,723 | |||||
Accruals for warranties | 7,891 | 5,430 | |||||||
Warranty assumed from acquisitions | 947 | 2,252 | |||||||
Warranty payments | (8,356 | ) | (5,307 | ) | |||||
Currency adjustments | (2 | ) | (169 | ) | |||||
Balance at end of year | $ | 9,409 | $ | 8,929 | |||||
Recently_Issued_Accounting_Sta
Recently Issued Accounting Standards | 12 Months Ended |
Oct. 31, 2013 | |
Accounting Changes And Error Corrections [Abstract] | ' |
Recently Issued Accounting Standards | ' |
Note 2 — Recently issued accounting standards | |
In September 2011, the Financial Accounting Standards Board (FASB) issued guidance amending the way companies test for goodwill impairment. Companies will have the option to first assess qualitative factors to determine the existence of events or circumstances that lead to a determination that it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If, after assessing the totality of events or circumstances, companies determine that it is more likely than not that the fair value of a reporting unit is greater than its carrying amount, then performing the two-step impairment test is unnecessary. This guidance did not change our annual process for goodwill impairment testing or impact the financial statements. | |
In February 2013, the FASB issued an Accounting Standards Update (ASU) requiring new disclosures for reclassifications from accumulated other comprehensive income to net income. Companies are required to present these disclosures either on the face of the statement where net income is presented or in the notes to the consolidated financial statements. This guidance is effective for us beginning in the first quarter of 2014. It will only be a change in disclosure, so we do not believe the adoption of this ASU will have a material effect on the consolidated financial statements. | |
In July 2013, the FASB issued an ASU which requires the netting of unrecognized tax benefits against a deferred tax asset for a loss or other carry forward that would apply in settlement of uncertain tax positions. Under the new standard, unrecognized tax benefits will be netted against all available same-jurisdiction loss or other tax carry forwards that would be utilized, rather than only against carry forwards that are created by the unrecognized tax benefits. The new guidance is effective prospectively to all existing unrecognized tax benefits, but entities can choose to apply it retrospectively. The guidance will be effective for us in our first quarter of 2015, with early adoption permitted. We are currently assessing the impact this guidance will have on our consolidated financial statements. |
Acquisitions
Acquisitions | 12 Months Ended | ||||||||
Oct. 31, 2013 | |||||||||
Business Combinations [Abstract] | ' | ||||||||
Acquisitions | ' | ||||||||
Note 3 — Acquisitions | |||||||||
Business acquisitions have been accounted for as purchases, with the acquired assets and liabilities recorded at estimated fair value on the dates of acquisition. The cost in excess of the net assets of the business acquired is included in goodwill. Operating results since the respective dates of acquisitions are included in the Consolidated Statement of Income. | |||||||||
2013 acquisitions | |||||||||
On November 8, 2012, we purchased certain assets of Kodama Chemical Industry Co., Ltd., a Japanese licensed distributor of EDI Holdings, Inc, (EDI), that we had previously acquired in 2012. This operation provides die sales to extrusion processors, web converters, and OEMs in Japan and Taiwan and carries out final manufacturing steps on new equipment to enhance die performance and accommodate local requirements. The acquisition date fair value was $1,335, which consisted of cash transferred of $1,231 and a holdback liability of $104. Based on the fair value of the assets acquired and the liabilities assumed, identifiable intangible assets of $912 were recorded. The identifiable intangible assets consist primarily of $847 of customer relationships that are being amortized over nine years and $65 of technology being amortized over nine years. This operation is being reported in our Adhesive Dispensing Systems segment. | |||||||||
On August 30, 2013, we purchased 100 percent of the outstanding shares of Münster, Germany based Kreyenborg Group’s Kreyenborg GmbH and BKG Bruckmann & Kreyenborg Granuliertechnik GmbH (“the Kreyenborg Group”). The Kreyenborg Group broadens our existing offering of screen changers, pumps and valves, critical components in the polymer processing melt stream for extrusion processes, and expands the product portfolio to include pelletizers, the key component in polymer compounding, recycling and related processes. The acquired companies employ approximately 270 people, have additional operations in Shanghai, China, Kuala Lumpur, Malaysia and Georgia, USA, and are being reported in our Adhesive Dispensing Systems segment. We acquired the Kreyenborg Group for an aggregate purchase price of $169,994, net of cash acquired of $22,913 and debt assumed of $391. Based on the fair value of the assets acquired and the liabilities assumed, goodwill of $115,103 and identifiable intangible assets of $60,021 were recorded. The identifiable intangible assets consist primarily of $42,306 of customer relationships (amortized over 15 years), $15,336 of technology (amortized over 15 years) and $1,851 of tradenames related to BKG (amortized over 10 years). Goodwill associated with this acquisition is not tax deductible. | |||||||||
On September 27, 2013 we purchased certain assets of Nellcor Puritan Bennett Mexico, S.A. de C.V., a subsidiary of Covidien LP (“Nellcor”) to be used by our Value Plastics operation. The fair value on the date of acquisition was $5,500, consisting solely of cash. Based on the fair value of the assets acquired and the liabilities assumed, goodwill of $2,301, property, plant and equipment of $1,149, technology of $740 (amortized over 10 years) and customer relationships of $1,310 (amortized over 25 years) were recorded. Goodwill associated with this acquisition is not tax deductible. Value Plastics is reported in our Advanced Technology Systems segment. | |||||||||
As of October 31, 2013, the purchase price allocations remain preliminary as we complete our assessments of property, plant and equipment, intangible assets, deferred taxes and certain reserves. | |||||||||
2012 acquisitions | |||||||||
On June 14, 2012, we acquired 100 percent of the outstanding shares of EDI Holdings, Inc. (EDI), a provider of slot coating and flat polymer extrusion dies for plastic processors and web converters headquartered in Chippewa Falls, Wisconsin. EDI is being reported in our Adhesive Dispensing Systems segment. As of October 31, 2013, the purchase price allocations remain preliminary as we complete over assessments of property, intangible assets, deferred taxes and certain reserves. | |||||||||
On June 21, 2012, we acquired 100 percent of the outstanding shares of Xaloy Superior Holdings, Inc. (Xaloy), a manufacturer of melt delivery components for injection and extrusion machinery in the global plastic processing industry headquartered in New Castle, Pennsylvania. Xaloy is being reported in our Adhesive Dispensing Systems segment. | |||||||||
On August 1, 2012 we acquired 100 percent of the outstanding shares of Sealant Equipment & Engineering, Inc. (SEE), a manufacturer of precision dispense systems and fluid dispense valves headquartered in Plymouth, Michigan. SEE is being reported in our Industrial Coating Systems segment. | |||||||||
These acquisitions were not individually material, but in the aggregate they must be disclosed pursuant to the business combinations guidance. The total purchase price of these acquisitions was allocated to the underlying assets acquired and liabilities assumed based upon management’s estimated fair values at the dates of acquisition. To the extent the purchase price exceeded the estimated fair value of the net identifiable tangible and intangible assets acquired, such excess was allocated to goodwill. The following table summarizes the combined purchase price allocation of the estimated fair values of the assets acquired and liabilities assumed at the transaction dates. | |||||||||
Fair values: | |||||||||
Current assets | $ | 70,391 | |||||||
Non-current assets | 58,275 | ||||||||
Intangible assets subject to amortization | 122,216 | ||||||||
Goodwill | 271,501 | ||||||||
Current liabilities | (31,426 | ) | |||||||
Non-current liabilities | (34,059 | ) | |||||||
456,898 | |||||||||
Less cash acquired | (8,403 | ) | |||||||
Purchase price | $ | 448,495 | |||||||
The intangible assets consist of customer lists of $48,350, which are being amortized over a weighted average life of nine years; technology assets of $25,740 which are being amortized over a weighted average life of 15 years; trade names of $43,710 which are being amortized over a weighted average life of 15 years; and non-compete agreements of $4,416, which are being amortized over a weighted average life of two years. The goodwill of $24,058 associated with the SEE acquisition is tax deductible, and none of the goodwill associated with the EDI and Xaloy acquisitions is tax deductible. However, there is $11,000 of goodwill related to their previous acquisitions that is tax deductible. | |||||||||
The following unaudited pro forma financial information for 2012 and 2011 assumes the acquisitions above occurred as of the beginning of 2011, after giving effect to certain adjustments, including amortization of intangible assets, interest expense on acquisition debt and income tax effects. The pro forma results have been prepared for comparative purposes only and are not necessarily indicative of the results of operations which may occur in the future or that would have occurred had the acquisitions been affected on the date indicated, nor are they necessarily indicative of our future results of operations. | |||||||||
2012 | 2011 | ||||||||
Sales | $ | 1,537,251 | $ | 1,429,798 | |||||
Net income | $ | 234,092 | $ | 225,867 | |||||
Basic earnings per share | $ | 3.63 | $ | 3.34 | |||||
Diluted earnings per share | $ | 3.6 | $ | 3.3 | |||||
Proforma results for 2011 were adjusted to include $2,109 of acquisition-related expenses and $4,589 of nonrecurring expense related to the fair value adjustment to acquisition-date inventory. Proforma results for 2012 were adjusted to exclude $2,109 of acquisition-related expenses and $4,589 of nonrecurring expense related to the fair value adjustment to acquisition-date inventory. Proforma results for 2011 and 2012 includes $13,159 and $11,713 of pretax amortization expense related to intangible assets. | |||||||||
2011 acquisitions | |||||||||
On August 26, 2011, we acquired 100 percent of the outstanding shares of Value Plastics, a leading designer and manufacturer of precision engineered, plastic molded, single-use fluid connection components headquartered in Fort Collins, Colorado. Value Plastics’ products are used primarily in critical flow control applications for healthcare and medical device markets. Cash, and proceeds from our revolving loan agreement and private shelf facility with NYLIM, were used for the purchase. Value Plastics supports our strategic objective of building upon our medical and life sciences platform and complements our growing positions in biomaterial delivery devices and medical device assembly. Our global reach and infrastructure will provide opportunities to leverage the business’ profitable growth beyond its primary domestic markets served and into general industrial markets. | |||||||||
The allocation of purchase price is shown in the table below. | |||||||||
Fair values: | |||||||||
Assets acquired | $ | 27,101 | |||||||
Liabilities assumed | (19,288 | ) | |||||||
Intangible assets subject to amortization | 74,720 | ||||||||
Goodwill | 178,954 | ||||||||
261,487 | |||||||||
Less cash acquired | (3,108 | ) | |||||||
Purchase price | $ | 258,379 | |||||||
The intangible assets include customer relationships of $40,400 being amortized over 25 years, technology and know-how of $18,500 being amortized over 15 years, a trade name asset of $15,400 being amortized over 20 years and a non-compete agreement of $420 being amortized over two years. None of the goodwill associated with the Value Plastics acquisition is tax deductible; however, they had $15,600 of existing goodwill related to a previous acquisition that is tax deductible. | |||||||||
The following unaudited pro forma financial information for 2011 assumes the acquisition occurred as of the beginning of 2010, after giving effect to certain adjustments, including amortization of intangible assets, interest expense on acquisition debt and income tax effects. The pro forma results have been prepared for comparative purposes only and are not necessarily indicative of the results of operations which may occur in the future or that would have occurred had the acquisition of Value Plastics been affected on the date indicated, nor are they necessarily indicative of our future results of operations. | |||||||||
Sales | $ | 1,259,127 | |||||||
Net income | $ | 224,934 | |||||||
Basic earnings per share | $ | 3.33 | |||||||
Diluted earnings per share | $ | 3.29 | |||||||
Proforma results were adjusted to exclude $375 of acquisition-related expenses and $2,401 of nonrecurring expense related to the fair value adjustment to acquisition-date inventory. Proforma results include $3,829 of pretax amortization expense related to Value Plastics’ intangible assets. | |||||||||
Other 2011 acquisitions — On November 1, 2010, we acquired 100 percent of the outstanding shares of Micromedics, an Eagan, Minnesota company that is a leader in applying and dispensing biomaterials for controlling bleeding, healing wounds and other related medical procedures. The acquisition date fair value of the consideration transferred, which consisted solely of cash, was $21,296. Based on the fair value of the assets acquired and the liabilities assumed, goodwill of $13,312 and identifiable intangible assets of $7,500 were recorded, of which customer relationships is the primary asset valued at $4,550 and amortized over 10 years. Goodwill associated with this acquisition is not tax deductible. Micromedics is being reported in our Advanced Technology Systems segment. | |||||||||
On June 30, 2011, we acquired 100 percent of the outstanding shares of Verbruggen, a Belgium manufacturer of flat dies and coextrusion equipment for the multi-layer flexible packaging industry. The acquisition date fair value of the consideration transferred, which consisted solely of cash, was $13,305. Based on the fair value of the assets acquired and the liabilities assumed, goodwill of $8,461 and identifiable intangible assets of $4,017 were recorded, of which customer relationships is the primary asset valued at $2,900 and amortized over 11 years. Goodwill associated with this acquisition is not tax deductible. Verbruggen is being reported in our Adhesive Dispensing Systems segment. | |||||||||
Assuming the Micromedics and Verbruggen acquisitions had taken place at the beginning of 2011, pro-forma results would not have been materially different. |
Details_of_Balance_Sheet
Details of Balance Sheet | 12 Months Ended | ||||||||
Oct. 31, 2013 | |||||||||
Text Block [Abstract] | ' | ||||||||
Details of Balance Sheet | ' | ||||||||
Note 4 — Details of balance sheet | |||||||||
2013 | 2012 | ||||||||
Receivables: | |||||||||
Accounts | $ | 292,469 | $ | 308,604 | |||||
Notes | 9,467 | 13,797 | |||||||
Other | 11,036 | 5,938 | |||||||
312,972 | 328,339 | ||||||||
Allowance for doubtful accounts | (4,265 | ) | (3,776 | ) | |||||
$ | 308,707 | $ | 324,563 | ||||||
Inventories: | |||||||||
Raw materials and component parts | $ | 81,943 | $ | 71,189 | |||||
Work-in-process | 34,756 | 22,159 | |||||||
Finished goods | 115,078 | 103,552 | |||||||
231,777 | 196,900 | ||||||||
Obsolescence and other reserves | (26,579 | ) | (20,505 | ) | |||||
LIFO reserve | (6,797 | ) | (6,810 | ) | |||||
$ | 198,401 | $ | 169,585 | ||||||
Property, plant and equipment: | |||||||||
Land | $ | 10,383 | $ | 8,533 | |||||
Land improvements | 3,849 | 3,424 | |||||||
Buildings | 127,178 | 125,338 | |||||||
Machinery and equipment | 294,374 | 257,229 | |||||||
Enterprise management system | 43,983 | 43,335 | |||||||
Construction-in-progress | 21,251 | 10,110 | |||||||
Leased property under capitalized leases | 26,838 | 23,842 | |||||||
527,856 | 471,811 | ||||||||
Accumulated depreciation and amortization | (326,877 | ) | (296,880 | ) | |||||
$ | 200,979 | $ | 174,931 | ||||||
Accrued liabilities: | |||||||||
Salaries and other compensation | $ | 44,561 | $ | 46,930 | |||||
Pension and retirement | 720 | 1,435 | |||||||
Taxes other than income taxes | 5,570 | 6,192 | |||||||
Other | 59,677 | 62,819 | |||||||
$ | 110,528 | $ | 117,376 | ||||||
Goodwill_and_Intangible_Assets
Goodwill and Intangible Assets | 12 Months Ended | ||||||||||||||||
Oct. 31, 2013 | |||||||||||||||||
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ||||||||||||||||
Goodwill and Intangible Assets | ' | ||||||||||||||||
Note 5 — Goodwill and intangible assets | |||||||||||||||||
We account for goodwill and other intangible assets in accordance with the provisions of ASC 350 and account for business combinations using the acquisition method of accounting and accordingly, the assets and liabilities of the entities acquired are recorded at their estimated fair values at the acquisition date. Goodwill is the excess of purchase price over the fair value of tangible and identifiable intangible net assets acquired in various business combinations. Goodwill is not amortized but is tested for impairment annually at the reporting unit level, or more often if indications of impairment exist. We assess the fair value of reporting units on a non-recurring basis using a combination of two valuation methods, a market approach and an income approach, to estimate the fair value of our reporting units. The implied fair value of our reporting units is determined based on significant unobservable inputs; accordingly, these inputs fall within Level 3 of the fair value hierarchy. | |||||||||||||||||
Our reporting units are the Adhesive Dispensing Systems segment, the Industrial Coating Systems segment and one level below the Advanced Technology Systems segment. | |||||||||||||||||
The goodwill impairment test is a two-step process. In the first step, performed in the fourth quarter of each year, we calculate a fair value using a discounted cash flow valuation methodology and compare the result against the carrying value for net assets of each reporting unit. Indications of value derived for each reporting unit using the market approach are corroborated with the results of the discounted cash flow approach. If the carrying value of a reporting unit exceeds its fair value, then a second step is performed to determine if goodwill is impaired. In the second step, a hypothetical purchase price allocation of the reporting unit’s assets and liabilities is performed using the fair value calculated in step one. The difference between the fair value of the reporting unit and the hypothetical fair value of assets and liabilities is the implied goodwill amount. Impairment is recorded if the carrying value of the reporting unit’s goodwill is higher than its implied goodwill. Based upon results of step one in 2013, 2012 and 2011, the second step of the goodwill impairment test was not necessary. | |||||||||||||||||
We acquired the Kreyenborg Group on August 30, 2013 and certain assets from Nellcor on September 27, 2013. Determination of the preliminary goodwill associated with these acquisitions was completed with the assistance of independent valuation specialists in October 2013. Since the dates of the valuations, no events or changes in circumstances have occurred that would more likely than not reduce the fair value of these acquisitions below their carrying values. | |||||||||||||||||
Changes in the carrying amount of goodwill during 2013 by operating segment follow: | |||||||||||||||||
Adhesive | Advanced | Industrial | Total | ||||||||||||||
Dispensing | Technology | Coating | |||||||||||||||
Systems | Systems | Systems | |||||||||||||||
Balance at October 31, 2012 | $ | 284,411 | $ | 505,159 | $ | 23,247 | $ | 812,817 | |||||||||
Acquisitions | 115,103 | 2,301 | — | 117,404 | |||||||||||||
Adjustments | 4,014 | — | 811 | 4,825 | |||||||||||||
Currency effect | 3,741 | 424 | — | 4,165 | |||||||||||||
Balance at October 31, 2013 | $ | 407,269 | $ | 507,884 | $ | 24,058 | $ | 939,211 | |||||||||
The adjustments to goodwill for the Adhesive Dispensing Systems segment resulted from changes to the purchase price and finalization of the purchase price allocations of EDI and Xaloy. The adjustments to goodwill for the Industrial Coating Systems segment resulted from changes to the purchase price and purchase price allocation of SEE. | |||||||||||||||||
Accumulated impairment losses, which were recorded in 2009, were $232,789 at October 31, 2013 and October 31, 2012. Of these losses, $229,173 related to the Advanced Technology Systems segment and $3,616 related to the Industrial Coating Systems segment. | |||||||||||||||||
Information regarding intangible assets subject to amortization follows: | |||||||||||||||||
October 31, 2013 | |||||||||||||||||
Carrying | Accumulated | Net Book Value | |||||||||||||||
Amount | Amortization | ||||||||||||||||
Customer relationships | $ | 171,489 | $ | 28,872 | $ | 142,617 | |||||||||||
Patent/technology costs | 85,414 | 21,145 | 64,269 | ||||||||||||||
Trade name | 67,865 | 7,856 | 60,009 | ||||||||||||||
Noncompete agreements | 9,965 | 8,091 | 1,874 | ||||||||||||||
Other | 1,400 | 1,096 | 304 | ||||||||||||||
Total | $ | 336,133 | $ | 67,060 | $ | 269,073 | |||||||||||
October 31, 2012 | |||||||||||||||||
Carrying | Accumulated | Net Book Value | |||||||||||||||
Amount | Amortization | ||||||||||||||||
Customer relationships | $ | 126,086 | $ | 18,167 | $ | 107,919 | |||||||||||
Patent/technology costs | 68,892 | 15,678 | 53,214 | ||||||||||||||
Trade name | 65,911 | 3,716 | 62,195 | ||||||||||||||
Noncompete agreements | 9,337 | 5,234 | 4,103 | ||||||||||||||
Other | 1,432 | 972 | 460 | ||||||||||||||
Total | $ | 271,658 | $ | 43,767 | $ | 227,891 | |||||||||||
Amortization expense for 2013 and 2012 was $22,672 and $14,521, respectively. | |||||||||||||||||
Estimated amortization expense for each of the five succeeding years follows: | |||||||||||||||||
Year | Amounts | ||||||||||||||||
2014 | $ | 24,641 | |||||||||||||||
2015 | $ | 23,242 | |||||||||||||||
2016 | $ | 22,324 | |||||||||||||||
2017 | $ | 21,951 | |||||||||||||||
2018 | $ | 21,766 |
Retirement_Pension_and_Other_P
Retirement, Pension and Other Postretirement Plans | 12 Months Ended | ||||||||||||||||||||||||||||||||
Oct. 31, 2013 | |||||||||||||||||||||||||||||||||
Compensation And Retirement Disclosure [Abstract] | ' | ||||||||||||||||||||||||||||||||
Retirement, Pension and Other Postretirement Plans | ' | ||||||||||||||||||||||||||||||||
Note 6 — Retirement, pension and other postretirement plans | |||||||||||||||||||||||||||||||||
Retirement plans — We have funded contributory retirement plans covering certain employees. Our contributions are primarily determined by the terms of the plans, subject to the limitation that they shall not exceed the amounts deductible for income tax purposes. We also sponsor unfunded contributory supplemental retirement plans for certain employees. Generally, benefits under these plans vest gradually over a period of approximately three years from date of employment, and are based on the employee’s contribution. The expense applicable to retirement plans for 2013, 2012 and 2011 was approximately $12,955, $10,827 and $8,594, respectively. | |||||||||||||||||||||||||||||||||
Pension plans — We have various pension plans covering a portion of our United States and international employees. Pension plan benefits are generally based on years of employment and, for salaried employees, the level of compensation. Actuarially determined amounts are contributed to United States plans to provide sufficient assets to meet future benefit payment requirements. We also sponsor an unfunded supplemental pension plan for certain employees. International subsidiaries fund their pension plans according to local requirements. | |||||||||||||||||||||||||||||||||
A reconciliation of the benefit obligations, plan assets, accrued benefit cost and the amount recognized in financial statements for pension plans is as follows: | |||||||||||||||||||||||||||||||||
United States | International | ||||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||||||
Change in benefit obligation: | |||||||||||||||||||||||||||||||||
Benefit obligation at beginning of year | $ | 326,792 | $ | 268,949 | $ | 83,433 | $ | 71,361 | |||||||||||||||||||||||||
Service cost | 8,896 | 7,488 | 2,098 | 1,504 | |||||||||||||||||||||||||||||
Interest cost | 12,314 | 12,137 | 2,872 | 3,002 | |||||||||||||||||||||||||||||
Participant contributions | — | — | 132 | 133 | |||||||||||||||||||||||||||||
Plan amendments | 1,667 | (3,199 | ) | — | — | ||||||||||||||||||||||||||||
Addition of plans from business combination | — | 14,935 | — | — | |||||||||||||||||||||||||||||
Foreign currency exchange rate change | — | — | (279 | ) | (2,000 | ) | |||||||||||||||||||||||||||
Actuarial (gain) loss | (40,996 | ) | 36,852 | (54 | ) | 11,934 | |||||||||||||||||||||||||||
Benefits paid | (8,957 | ) | (10,370 | ) | (2,659 | ) | (2,501 | ) | |||||||||||||||||||||||||
Benefit obligation at end of year | $ | 299,716 | $ | 326,792 | $ | 85,543 | $ | 83,433 | |||||||||||||||||||||||||
Change in plan assets: | |||||||||||||||||||||||||||||||||
Beginning fair value of plan assets | $ | 214,128 | $ | 184,701 | $ | 34,217 | $ | 32,167 | |||||||||||||||||||||||||
Actual return on plan assets | 20,951 | 22,088 | 2,102 | 1,283 | |||||||||||||||||||||||||||||
Company contributions | 17,384 | 9,060 | 3,501 | 3,492 | |||||||||||||||||||||||||||||
Participant contributions | — | — | 132 | 133 | |||||||||||||||||||||||||||||
Addition of plans from business combination | — | 8,649 | — | — | |||||||||||||||||||||||||||||
Foreign currency exchange rate change | — | — | (215 | ) | (357 | ) | |||||||||||||||||||||||||||
Benefits paid | (8,957 | ) | (10,370 | ) | (2,659 | ) | (2,501 | ) | |||||||||||||||||||||||||
Ending fair value of plan assets | $ | 243,506 | $ | 214,128 | $ | 37,078 | $ | 34,217 | |||||||||||||||||||||||||
Funded status at end of year | $ | (56,210 | ) | $ | (112,664 | ) | $ | (48,465 | ) | $ | (49,216 | ) | |||||||||||||||||||||
Amounts recognized in financial statements: | |||||||||||||||||||||||||||||||||
Noncurrent asset | $ | — | $ | — | $ | 22 | $ | 144 | |||||||||||||||||||||||||
Accrued benefit liability | (938 | ) | (620 | ) | (5 | ) | (5 | ) | |||||||||||||||||||||||||
Long-term pension and retirement obligations | (55,272 | ) | (112,044 | ) | (48,482 | ) | (49,355 | ) | |||||||||||||||||||||||||
Total amount recognized in financial statements | $ | (56,210 | ) | $ | (112,664 | ) | $ | (48,465 | ) | $ | (49,216 | ) | |||||||||||||||||||||
United States | International | ||||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||||||
Amounts recognized in accumulated other comprehensive (gain) loss: | |||||||||||||||||||||||||||||||||
Net actuarial loss | $ | 93,537 | $ | 154,238 | $ | 24,392 | $ | 26,310 | |||||||||||||||||||||||||
Prior service cost (credit) | 4 | (1,506 | ) | (798 | ) | (1,080 | ) | ||||||||||||||||||||||||||
Accumulated other comprehensive loss | $ | 93,541 | $ | 152,732 | $ | 23,594 | $ | 25,230 | |||||||||||||||||||||||||
Amounts expected to be recognized during next fiscal year: | |||||||||||||||||||||||||||||||||
Amortization of net actuarial loss | $ | 8,260 | $ | 13,943 | $ | 1,531 | $ | 1,418 | |||||||||||||||||||||||||
Amortization of prior service cost (credit) | 237 | 157 | (82 | ) | (96 | ) | |||||||||||||||||||||||||||
Total | $ | 8,497 | $ | 14,100 | $ | 1,449 | $ | 1,322 | |||||||||||||||||||||||||
The following table summarizes the changes in accumulated other comprehensive (gain) loss: | |||||||||||||||||||||||||||||||||
United States | International | ||||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||||||
Balance at beginning of year | $ | 152,732 | $ | 138,962 | $ | 25,230 | $ | 13,736 | |||||||||||||||||||||||||
Net (gain) loss arising during the year | (46,707 | ) | 29,877 | (642 | ) | 12,197 | |||||||||||||||||||||||||||
Prior service cost (credit) arising during the year | 1,668 | (3,199 | ) | — | — | ||||||||||||||||||||||||||||
Net gain (loss) recognized during the year | (13,995 | ) | (11,672 | ) | (1,406 | ) | (564 | ) | |||||||||||||||||||||||||
Prior service (cost) credit recognized during the year | (157 | ) | (342 | ) | 81 | 97 | |||||||||||||||||||||||||||
Settlement loss | — | (894 | ) | — | — | ||||||||||||||||||||||||||||
Exchange rate effect during the year | — | — | 331 | (236 | ) | ||||||||||||||||||||||||||||
Balance at end of year | $ | 93,541 | $ | 152,732 | $ | 23,594 | $ | 25,230 | |||||||||||||||||||||||||
Information regarding the accumulated benefit obligation is as follows: | |||||||||||||||||||||||||||||||||
United States | International | ||||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||||||
For all plans: | |||||||||||||||||||||||||||||||||
Accumulated benefit obligation | $ | 291,310 | $ | 316,080 | $ | 67,647 | $ | 65,725 | |||||||||||||||||||||||||
For plans with benefit obligations in excess of plan assets: | |||||||||||||||||||||||||||||||||
Projected benefit obligation | 299,716 | 326,792 | 71,788 | 70,153 | |||||||||||||||||||||||||||||
Accumulated benefit obligation | 291,310 | 316,080 | 59,589 | 58,425 | |||||||||||||||||||||||||||||
Fair value of plan assets | 243,506 | 214,128 | 29,000 | 26,757 | |||||||||||||||||||||||||||||
Net pension benefit costs include the following components: | |||||||||||||||||||||||||||||||||
United States | International | ||||||||||||||||||||||||||||||||
2013 | 2012 | 2011 | 2013 | 2012 | 2011 | ||||||||||||||||||||||||||||
Service cost | $ | 8,896 | $ | 7,488 | $ | 6,058 | $ | 2,098 | $ | 1,504 | $ | 2,097 | |||||||||||||||||||||
Interest cost | 12,314 | 12,137 | 12,008 | 2,872 | 3,002 | 2,973 | |||||||||||||||||||||||||||
Expected return on plan assets | (15,241 | ) | (14,901 | ) | (15,575 | ) | (1,512 | ) | (1,547 | ) | (1,466 | ) | |||||||||||||||||||||
Amortization of prior service cost (credit) | 157 | 342 | 666 | (81 | ) | (97 | ) | 5 | |||||||||||||||||||||||||
Amortization of net actuarial (gain) loss | 13,995 | 11,672 | 7,438 | 1,406 | 564 | 858 | |||||||||||||||||||||||||||
Settlement loss | — | 682 | — | — | — | — | |||||||||||||||||||||||||||
Total benefit cost | $ | 20,121 | $ | 17,420 | $ | 10,595 | $ | 4,783 | $ | 3,426 | $ | 4,467 | |||||||||||||||||||||
Net periodic pension cost for 2012 included a settlement loss of $682, due to a plan termination. | |||||||||||||||||||||||||||||||||
The weighted average assumptions used in the valuation of pension benefits were as follows: | |||||||||||||||||||||||||||||||||
United States | International | ||||||||||||||||||||||||||||||||
2013 | 2012 | 2011 | 2013 | 2012 | 2011 | ||||||||||||||||||||||||||||
Assumptions used to determine benefit obligations at October 31: | |||||||||||||||||||||||||||||||||
Discount rate | 4.75 | % | 3.85 | % | 4.46 | % | 3.72 | % | 3.52 | % | 4.43 | % | |||||||||||||||||||||
Rate of compensation increase | 3.3 | 3.3 | 3.2 | 3.18 | 3.13 | 3.16 | |||||||||||||||||||||||||||
Assumptions used to determine net benefit costs for the years ended October 31: | |||||||||||||||||||||||||||||||||
Discount rate | 3.85 | 4.46 | 5.21 | 3.52 | 4.43 | 4.17 | |||||||||||||||||||||||||||
Expected return on plan assets | 7.24 | 7.75 | 8.25 | 4.43 | 4.85 | 4.84 | |||||||||||||||||||||||||||
Rate of compensation increase | 3.3 | 3.2 | 3.3 | 3.13 | 3.16 | 3.21 | |||||||||||||||||||||||||||
The amortization of prior service cost is determined using a straight-line amortization of the cost over the average remaining service period of employees expected to receive benefits under the plans. | |||||||||||||||||||||||||||||||||
The discount rate reflects the current rate at which pension liabilities could be effectively settled at the end of the year. The discount rate used considers a yield derived from matching projected pension payments with maturities of a portfolio of available bonds that receive the highest rating given from a recognized investments ratings agency. The increase in the discount rate in 2013 and decrease in 2012 is due to changes in yields for these types of investments as a result of the economic environment. | |||||||||||||||||||||||||||||||||
In determining the expected return on plan assets, we consider both historical performance and an estimate of future long-term rates of return on assets similar to those in our plans. We consult with and consider the opinions of financial and other professionals in developing appropriate return assumptions. The rate of compensation increase is based on managements’ estimates using historical experience and expected increases in rates. | |||||||||||||||||||||||||||||||||
Economic assumptions have a significant effect on the amounts reported. The effect of a one percent change in the discount rate, expected return on assets and compensation increase is shown in the table below. Bracketed numbers represent decreases in expense and obligation amounts. | |||||||||||||||||||||||||||||||||
United States | International | ||||||||||||||||||||||||||||||||
1% Point | 1% Point | 1% Point | 1% Point | ||||||||||||||||||||||||||||||
Increase | Decrease | Increase | Decrease | ||||||||||||||||||||||||||||||
Discount rate: | |||||||||||||||||||||||||||||||||
Effect on total service and interest cost components | $ | (4,340 | ) | $ | 5,207 | $ | (1,052 | ) | $ | 1,343 | |||||||||||||||||||||||
in 2013 | |||||||||||||||||||||||||||||||||
Effect on pension obligation as of October 31, 2013 | $ | (34,718 | ) | $ | 42,756 | $ | (13,572 | ) | $ | 17,606 | |||||||||||||||||||||||
Expected return on assets: | |||||||||||||||||||||||||||||||||
Effect on total service and interest cost components | $ | (2,019 | ) | $ | 2,019 | $ | (348 | ) | $ | 348 | |||||||||||||||||||||||
in 2013 | |||||||||||||||||||||||||||||||||
Effect on pension obligation as of October 31, 2013 | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||||||
Compensation increase: | |||||||||||||||||||||||||||||||||
Effect on total service and interest cost components | $ | 3,580 | $ | (2,967 | ) | $ | 869 | $ | (726 | ) | |||||||||||||||||||||||
in 2013 | |||||||||||||||||||||||||||||||||
Effect on pension obligation as of October 31, 2013 | $ | 14,832 | $ | (12,619 | ) | $ | 6,039 | $ | (5,300 | ) | |||||||||||||||||||||||
The allocation of pension plan assets as of October 31, 2013 and 2012 is as follows: | |||||||||||||||||||||||||||||||||
United States | International | ||||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||||||
Asset Category | |||||||||||||||||||||||||||||||||
Equity securities | 27 % | 37 % | — % | — % | |||||||||||||||||||||||||||||
Debt securities | 29 | 20 | — | — | |||||||||||||||||||||||||||||
Insurance contracts | — | — | 60 | 56 | |||||||||||||||||||||||||||||
Pooled investment funds | 43 | 42 | 39 | 43 | |||||||||||||||||||||||||||||
Other | 1 | 1 | 1 | 1 | |||||||||||||||||||||||||||||
Total | 100 % | 100 % | 100 % | 100 % | |||||||||||||||||||||||||||||
Our investment objective for defined benefit plan assets is to meet the plans’ benefit obligations, while minimizing the potential for future required plan contributions. | |||||||||||||||||||||||||||||||||
Our United States plans comprise 87 percent of the worldwide pension assets. In general, the investment strategies focus on asset class diversification, liquidity to meet benefit payments and an appropriate balance of long-term investment return and risk. Target ranges for asset allocations are determined by dynamically matching the actuarial projections of the plans’ future liabilities and benefit payments with expected long-term rates of return on the assets, taking into account investment return volatility and correlations across asset classes. The current target in “return-seeking assets” is 45 percent and 55 percent in fixed income. Plan assets are diversified across several investment managers and are invested in liquid funds that are selected to track broad market indices. Investment risk is carefully controlled with plan assets rebalanced to target allocations on a periodic basis and continual monitoring of investment managers’ performance relative to the investment guidelines established with each investment manager. | |||||||||||||||||||||||||||||||||
Our international plans comprise 13 percent of the worldwide pension assets. Asset allocations are developed on a country-specific basis. Our investment strategy is to cover pension obligations with insurance contracts or to employ independent managers to invest the assets. | |||||||||||||||||||||||||||||||||
The fair values of our pension plan assets at October 31, 2013 by asset category are in the table below: | |||||||||||||||||||||||||||||||||
United States | International | ||||||||||||||||||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | Total | Level 1 | Level 2 | Level 3 | ||||||||||||||||||||||||||
Cash | $ | 2,811 | $ | 2,811 | $ | — | $ | — | $ | 321 | $ | 321 | $ | — | $ | — | |||||||||||||||||
Money market funds | 2,783 | 2,783 | — | — | — | — | — | — | |||||||||||||||||||||||||
Equity securities: | |||||||||||||||||||||||||||||||||
Basic materials | 3,834 | 3,834 | — | — | — | — | — | — | |||||||||||||||||||||||||
Consumer goods | 4,958 | 4,958 | — | — | — | — | — | — | |||||||||||||||||||||||||
Financial | 7,825 | 7,825 | — | — | — | — | — | — | |||||||||||||||||||||||||
Healthcare | 4,109 | 4,109 | — | — | — | — | — | — | |||||||||||||||||||||||||
Industrial goods | 3,255 | 3,255 | — | — | — | — | — | — | |||||||||||||||||||||||||
Technology | 4,159 | 4,159 | — | — | — | — | — | — | |||||||||||||||||||||||||
Utilities | 988 | 988 | — | — | — | — | — | — | |||||||||||||||||||||||||
Mutual funds | 32,617 | 32,617 | — | — | — | — | — | — | |||||||||||||||||||||||||
Fixed income securities: | |||||||||||||||||||||||||||||||||
U.S. Government | 26,892 | 10,715 | 16,177 | — | — | — | — | — | |||||||||||||||||||||||||
Corporate | 43,367 | — | 43,367 | — | — | — | — | — | |||||||||||||||||||||||||
Other | 1,356 | — | 1,356 | — | — | — | — | — | |||||||||||||||||||||||||
Other types of investments: | |||||||||||||||||||||||||||||||||
Insurance contracts | — | — | — | — | 22,093 | — | — | 22,093 | |||||||||||||||||||||||||
Real estate collective funds | 14,958 | — | — | 14,958 | — | — | — | — | |||||||||||||||||||||||||
Pooled investment funds | 88,973 | — | 88,973 | — | 14,664 | — | 14,664 | — | |||||||||||||||||||||||||
Other | 621 | 621 | — | — | — | — | — | — | |||||||||||||||||||||||||
$ | 243,506 | $ | 78,675 | $ | 149,873 | $ | 14,958 | $ | 37,078 | $ | 321 | $ | 14,664 | $ | 22,093 | ||||||||||||||||||
The fair values of our pension plan assets at October 31, 2012 by asset category are in the table below: | |||||||||||||||||||||||||||||||||
United States | International | ||||||||||||||||||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | Total | Level 1 | Level 2 | Level 3 | ||||||||||||||||||||||||||
Cash | $ | 1,346 | $ | 1,346 | $ | — | $ | — | $ | 323 | $ | 323 | $ | — | $ | — | |||||||||||||||||
Money market funds | 2,114 | 2,114 | — | — | — | — | — | — | |||||||||||||||||||||||||
Equity securities: | |||||||||||||||||||||||||||||||||
Basic materials | 5,849 | 5,849 | — | — | — | — | — | — | |||||||||||||||||||||||||
Consumer goods | 7,359 | 7,359 | — | — | — | — | — | — | |||||||||||||||||||||||||
Financial | 9,190 | 9,190 | — | — | — | — | — | — | |||||||||||||||||||||||||
Healthcare | 4,891 | 4,891 | — | — | — | — | — | — | |||||||||||||||||||||||||
Industrial goods | 3,174 | 3,174 | — | — | — | — | — | — | |||||||||||||||||||||||||
Technology | 4,581 | 4,581 | — | — | — | — | — | — | |||||||||||||||||||||||||
Utilities | 1,491 | 1,491 | — | — | — | — | — | — | |||||||||||||||||||||||||
Mutual funds | 39,900 | 39,900 | — | — | — | — | — | — | |||||||||||||||||||||||||
Fixed income securities: | |||||||||||||||||||||||||||||||||
U.S. Government | 17,697 | 1,784 | 15,913 | — | — | — | — | — | |||||||||||||||||||||||||
Corporate | 24,865 | — | 24,865 | — | — | — | — | — | |||||||||||||||||||||||||
Other | 593 | — | 593 | — | — | — | — | — | |||||||||||||||||||||||||
Other types of investments: | |||||||||||||||||||||||||||||||||
Insurance contracts | — | — | — | — | 19,046 | — | — | 19,046 | |||||||||||||||||||||||||
Real estate collective funds | 13,110 | — | — | 13,110 | — | — | — | — | |||||||||||||||||||||||||
Pooled investment funds | 77,220 | — | 77,220 | — | 14,848 | — | 14,848 | — | |||||||||||||||||||||||||
Other | 748 | 748 | — | — | — | — | — | — | |||||||||||||||||||||||||
$ | 214,128 | $ | 82,427 | $ | 118,591 | $ | 13,110 | $ | 34,217 | $ | 323 | $ | 14,848 | $ | 19,046 | ||||||||||||||||||
These investment funds did not own a significant number of shares of Nordson Corporation common stock for any year presented. | |||||||||||||||||||||||||||||||||
The inputs and methodology used to measure fair value of plan assets are consistent with those described in Note 12. Following are the valuation methodologies used to measure these assets: | |||||||||||||||||||||||||||||||||
• | Money market funds — Money market funds are public investment vehicles that are valued with a net asset value of one dollar. This is a quoted price in an active market and is classified as Level 1. | ||||||||||||||||||||||||||||||||
• | Equity securities — Common stocks are valued at the closing price reported on the active market on which the individual securities are traded and are classified as Level 1. Mutual funds are valued at the net asset values of the shares at year-end, as determined by the closing price reported on the active market on which the individual securities are traded and are classified as Level 1. | ||||||||||||||||||||||||||||||||
• | Fixed income securities — U.S. Treasury bills reflect the closing price on the active market in which the securities are traded and are classified as Level 1. Securities of U.S. agencies are valued using bid evaluations and a classified as Level 2. Corporate fixed income securities are valued using evaluated prices, such as dealer quotes, bids and offers and are therefore classified as Level 2. | ||||||||||||||||||||||||||||||||
• | Insurance contracts — Insurance contracts are investments with various insurance companies. The fair value is equal to the contract value. These contracts do not hold any specific assets. These investments are classified as Level 3. | ||||||||||||||||||||||||||||||||
• | Real estate collective funds — These funds are valued at the estimated fair value of the underlying properties. Estimated fair value is calculated using a combination of key inputs, such as revenue and expense growth rates, terminal capitalization rates and discount rates. These investments are classified as Level 3. | ||||||||||||||||||||||||||||||||
• | Pooled investment funds — These are public investment vehicles valued using the net asset value. The net asset value is based on the value of the assets owned by the plan, less liabilities. These investments are not quoted on an active exchange and are classified as Level 2. | ||||||||||||||||||||||||||||||||
The following tables present an analysis of changes during the years ended October 31, 2013 and 2012 in Level 3 plan assets, by plan asset class, for U.S. and International pension plans using significant unobservable inputs to measure fair value: | |||||||||||||||||||||||||||||||||
Fair Value Measurements Using Significant | |||||||||||||||||||||||||||||||||
Unobservable Inputs (Level 3) | |||||||||||||||||||||||||||||||||
Real estate | Insurance | Total | |||||||||||||||||||||||||||||||
collective funds | contracts | ||||||||||||||||||||||||||||||||
Beginning balance at October 31, 2012 | $ | 13,110 | $ | 19,046 | $ | 32,156 | |||||||||||||||||||||||||||
Actual return on plan assets: | |||||||||||||||||||||||||||||||||
Assets held, end of year | 1,970 | 1,025 | 2,995 | ||||||||||||||||||||||||||||||
Assets sold during the period | 13 | — | 13 | ||||||||||||||||||||||||||||||
Purchases | — | 4,242 | 4,242 | ||||||||||||||||||||||||||||||
Sales | (135 | ) | (2,093 | ) | (2,228 | ) | |||||||||||||||||||||||||||
Foreign currency translation | — | (127 | ) | (127 | ) | ||||||||||||||||||||||||||||
Ending balance at October 31, 2013 | $ | 14,958 | $ | 22,093 | $ | 37,051 | |||||||||||||||||||||||||||
Fair Value Measurements Using Significant | |||||||||||||||||||||||||||||||||
Unobservable Inputs (Level 3) | |||||||||||||||||||||||||||||||||
Real estate | Insurance | Total | |||||||||||||||||||||||||||||||
collective funds | contracts | ||||||||||||||||||||||||||||||||
Beginning balance at October 31, 2011 | $ | — | $ | 18,501 | $ | 18,501 | |||||||||||||||||||||||||||
Actual return on plan assets: | |||||||||||||||||||||||||||||||||
Assets held, end of year | 1,169 | 780 | 1,949 | ||||||||||||||||||||||||||||||
Assets sold during the period | 2 | — | 2 | ||||||||||||||||||||||||||||||
Purchases | 12,000 | 2,311 | 14,311 | ||||||||||||||||||||||||||||||
Sales | (61 | ) | (2,122 | ) | (2,183 | ) | |||||||||||||||||||||||||||
Foreign currency translation | — | (424 | ) | (424 | ) | ||||||||||||||||||||||||||||
Ending balance at October 31, 2012 | $ | 13,110 | $ | 19,046 | $ | 32,156 | |||||||||||||||||||||||||||
Contributions to pension plans in 2014 are estimated to be approximately $21,900. | |||||||||||||||||||||||||||||||||
Retiree pension benefit payments, which reflect expected future service, are anticipated to be paid as follows: | |||||||||||||||||||||||||||||||||
Year | United States | International | |||||||||||||||||||||||||||||||
2014 | $ | 10,905 | $ | 3,659 | |||||||||||||||||||||||||||||
2015 | 11,888 | 2,539 | |||||||||||||||||||||||||||||||
2016 | 12,885 | 2,159 | |||||||||||||||||||||||||||||||
2017 | 14,131 | 1,998 | |||||||||||||||||||||||||||||||
2018 | 15,228 | 2,857 | |||||||||||||||||||||||||||||||
2019-2023 | 93,560 | 18,777 | |||||||||||||||||||||||||||||||
Other postretirement plans — We have an unfunded postretirement benefit plan covering certain of our United States employees. Employees hired after January 1, 2002, are not eligible to participate in this plan. The plan provides medical and life insurance benefits. The plan is contributory, with retiree contributions in the form of premiums that are adjusted annually, and contains other cost-sharing features, such as deductibles and coinsurance. We also sponsor an unfunded, non-contributory postretirement benefit plan that provides medical and life insurance benefits for certain international employees. | |||||||||||||||||||||||||||||||||
A reconciliation of the benefit obligations, accrued benefit cost and the amount recognized in financial statements for other postretirement plans is as follows: | |||||||||||||||||||||||||||||||||
United States | International | ||||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||||||
Change in benefit obligation: | |||||||||||||||||||||||||||||||||
Benefit obligation at beginning of year | $ | 71,228 | $ | 73,392 | $ | 851 | $ | 678 | |||||||||||||||||||||||||
Service cost | 1,145 | 1,183 | 35 | 28 | |||||||||||||||||||||||||||||
Interest cost | 2,598 | 2,759 | 38 | 41 | |||||||||||||||||||||||||||||
Participant contributions | 600 | 1,393 | — | — | |||||||||||||||||||||||||||||
Plan amendment | — | (202 | ) | — | — | ||||||||||||||||||||||||||||
Foreign currency exchange rate change | — | — | (34 | ) | 1 | ||||||||||||||||||||||||||||
Actuarial (gain) loss | (11,619 | ) | (4,315 | ) | (118 | ) | 107 | ||||||||||||||||||||||||||
Benefits paid | (2,948 | ) | (2,982 | ) | (4 | ) | (4 | ) | |||||||||||||||||||||||||
Benefit obligation at end of year | $ | 61,004 | $ | 71,228 | $ | 768 | $ | 851 | |||||||||||||||||||||||||
Change in plan assets: | |||||||||||||||||||||||||||||||||
Beginning fair value of plan assets | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||||||
Company contributions | 2,348 | 1,589 | 4 | 4 | |||||||||||||||||||||||||||||
Participant contributions | 600 | 1,393 | — | — | |||||||||||||||||||||||||||||
Benefits paid | (2,948 | ) | (2,982 | ) | (4 | ) | (4 | ) | |||||||||||||||||||||||||
Ending fair value of plan assets | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||||||
Funded status at end of year | $ | (61,004 | ) | $ | (71,228 | ) | $ | (768 | ) | $ | (851 | ) | |||||||||||||||||||||
Amounts recognized in financial statements: | |||||||||||||||||||||||||||||||||
Accrued benefit liability | $ | (1,974 | ) | $ | (2,224 | ) | $ | (4 | ) | $ | (4 | ) | |||||||||||||||||||||
Long-term postretirement obligations | (59,030 | ) | (69,004 | ) | (764 | ) | (847 | ) | |||||||||||||||||||||||||
Total amount recognized in financial statements | $ | (61,004 | ) | $ | (71,228 | ) | $ | (768 | ) | $ | (851 | ) | |||||||||||||||||||||
United States | International | ||||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||||||
Amounts recognized in accumulated other comprehensive (gain) loss: | |||||||||||||||||||||||||||||||||
Net actuarial (gain) loss | $ | 17,854 | $ | 31,585 | $ | (243 | ) | $ | (138 | ) | |||||||||||||||||||||||
Prior service cost (credit) | (1,461 | ) | (1,934 | ) | — | — | |||||||||||||||||||||||||||
Accumulated other comprehensive (gain) loss | $ | 16,393 | $ | 29,651 | $ | (243 | ) | $ | (138 | ) | |||||||||||||||||||||||
Amounts expected to be recognized during next fiscal year: | |||||||||||||||||||||||||||||||||
Amortization of net actuarial (gain) loss | $ | 1,139 | $ | 2,214 | $ | (14 | ) | $ | (4 | ) | |||||||||||||||||||||||
Amortization of prior service cost (credit) | (449 | ) | (1,758 | ) | — | — | |||||||||||||||||||||||||||
Total | $ | 690 | $ | 456 | $ | (14 | ) | $ | (4 | ) | |||||||||||||||||||||||
The following table summarizes the changes in accumulated other comprehensive (gain) loss: | |||||||||||||||||||||||||||||||||
United States | International | ||||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||||||
Balance at beginning of year | $ | 29,651 | $ | 35,374 | $ | (138 | ) | $ | (260 | ) | |||||||||||||||||||||||
Net (gain) loss arising during the year | (11,619 | ) | (4,315 | ) | (117 | ) | 108 | ||||||||||||||||||||||||||
Prior service cost (credit) arising during the year | — | (202 | ) | — | — | ||||||||||||||||||||||||||||
Net gain (loss) recognized during the year | (2,112 | ) | (1,790 | ) | 4 | 14 | |||||||||||||||||||||||||||
Prior service credit (cost) recognized during the year | 473 | 584 | — | — | |||||||||||||||||||||||||||||
Exchange rate effect during the year | — | — | 8 | — | |||||||||||||||||||||||||||||
Balance at end of year | $ | 16,393 | $ | 29,651 | $ | (243 | ) | $ | (138 | ) | |||||||||||||||||||||||
Net postretirement benefit costs include the following components: | |||||||||||||||||||||||||||||||||
United States | International | ||||||||||||||||||||||||||||||||
2013 | 2012 | 2011 | 2013 | 2012 | 2011 | ||||||||||||||||||||||||||||
Service cost | $ | 1,145 | $ | 1,183 | $ | 1,122 | $ | 35 | $ | 28 | $ | 31 | |||||||||||||||||||||
Interest cost | 2,598 | 2,759 | 2,932 | 38 | 41 | 41 | |||||||||||||||||||||||||||
Amortization of prior service cost (credit) | (473 | ) | (584 | ) | (1,147 | ) | — | — | — | ||||||||||||||||||||||||
Amortization of net actuarial (gain) loss | 2,112 | 1,789 | 1,606 | (4 | ) | (14 | ) | (8 | ) | ||||||||||||||||||||||||
Total benefit cost | $ | 5,382 | $ | 5,147 | $ | 4,513 | $ | 69 | $ | 55 | $ | 64 | |||||||||||||||||||||
The weighted average assumptions used in the valuation of postretirement benefits were as follows: | |||||||||||||||||||||||||||||||||
United States | International | ||||||||||||||||||||||||||||||||
2013 | 2012 | 2011 | 2013 | 2012 | 2011 | ||||||||||||||||||||||||||||
Assumptions used to determine benefit obligations at October 31: | |||||||||||||||||||||||||||||||||
Discount rate | 4.8 | % | 3.85 | % | 4.5 | % | 4.95 | % | 4.4 | % | 5.85 | % | |||||||||||||||||||||
Health care cost trend rate | 4.12 | 4.9 | 9.36 | 6.65 | 6.83 | 7 | |||||||||||||||||||||||||||
Rate to which health care cost trend rate is assumed to decline (ultimate trend rate) | 3.47 | 3.6 | 5 | 3.5 | 3.5 | 3.5 | |||||||||||||||||||||||||||
Year the rate reaches the ultimate trend rate | 2021 | 2017 | 2016 | 2031 | 2031 | 2031 | |||||||||||||||||||||||||||
Assumption used to determine net benefit costs for the years ended October 31: | |||||||||||||||||||||||||||||||||
Discount rate | 3.85 | % | 4.5 | % | 5.25 | % | 4.4 | % | 5.85 | % | 5.75 | % | |||||||||||||||||||||
The decrease in the weighted-average health care cost trend rate in the United States relates to a change in the plan design of the retiree medical plan effective January 1, 2013 moving to a Health Reimbursement Arrangement for post-65 coverage. | |||||||||||||||||||||||||||||||||
The discount rate and the health care cost trend rate assumptions have a significant effect on the amounts reported. For example, a one-percentage point change in the discount rate and the assumed health care cost trend rate would have the following effects: | |||||||||||||||||||||||||||||||||
United States | International | ||||||||||||||||||||||||||||||||
1% Point | 1% Point | 1% Point | 1% Point | ||||||||||||||||||||||||||||||
Increase | Decrease | Increase | Decrease | ||||||||||||||||||||||||||||||
Discount rate: | |||||||||||||||||||||||||||||||||
Effect on total service and interest cost components in 2013 | $ | (758 | ) | $ | 911 | $ | (20 | ) | $ | 11 | |||||||||||||||||||||||
Effect on postretirement obligation as of October 31, 2013 | $ | (7,945 | ) | $ | 9,886 | $ | (138 | ) | $ | 181 | |||||||||||||||||||||||
Health care trend rate: | |||||||||||||||||||||||||||||||||
Effect on total service and interest cost components in 2013 | $ | 630 | $ | (508 | ) | $ | 17 | $ | (13 | ) | |||||||||||||||||||||||
Effect on postretirement obligation as of October 31, 2013 | $ | 8,907 | $ | (7,286 | ) | $ | 172 | $ | (135 | ) | |||||||||||||||||||||||
Contributions to postretirement plans in 2014 are estimated to be approximately $2,000. | |||||||||||||||||||||||||||||||||
Retiree postretirement benefit payments are anticipated to be paid as follows: | |||||||||||||||||||||||||||||||||
Year | United States | International | |||||||||||||||||||||||||||||||
2014 | $ | 1,974 | $ | 4 | |||||||||||||||||||||||||||||
2015 | 2,254 | 11 | |||||||||||||||||||||||||||||||
2016 | 2,490 | 12 | |||||||||||||||||||||||||||||||
2017 | 2,747 | 13 | |||||||||||||||||||||||||||||||
2018 | 2,965 | 16 | |||||||||||||||||||||||||||||||
2019-2023 | 17,767 | 117 |
Income_Taxes
Income Taxes | 12 Months Ended | ||||||||||||
Oct. 31, 2013 | |||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||
Income Taxes | ' | ||||||||||||
Note 7 — Income taxes | |||||||||||||
Income tax expense includes the following: | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Current: | |||||||||||||
U.S. federal | $ | 45,004 | $ | 51,458 | $ | 53,983 | |||||||
State and local | 2,351 | 1,378 | 2,029 | ||||||||||
Foreign | 36,829 | 38,760 | 35,469 | ||||||||||
Total current | 84,184 | 91,596 | 91,481 | ||||||||||
Deferred: | |||||||||||||
U.S. federal | 8,361 | 7,204 | 1,851 | ||||||||||
State and local | (991 | ) | 782 | 23 | |||||||||
Foreign | (2,248 | ) | 1,842 | (1,158 | ) | ||||||||
Total deferred | 5,122 | 9,828 | 716 | ||||||||||
$ | 89,306 | $ | 101,424 | $ | 92,197 | ||||||||
Earnings before income taxes of domestic operations, which are calculated after intercompany profit eliminations, were $164,702, $177,035 and $181,258 in 2013, 2012 and 2011, respectively. | |||||||||||||
Income tax expense in 2013 also includes a benefit of $900 for the reduction of unrecognized tax benefits primarily related to expiration of certain foreign statutes of limitations. On January 2, 2013, the American Taxpayer Relief Act of 2012 was enacted which retroactively reinstated and extended the Federal Research and Development Tax Credit (Federal R&D Tax Credit) from January 1, 2012 to December 31, 2013 and extended certain other tax provisions. As a result, our income tax provision for 2013 included a discrete tax benefit of $1,700 related to 2012. | |||||||||||||
Income tax expense in 2012 includes a benefit of $2,717 related to the utilization of loss carryforwards and to the release of the valuation allowance related to loss carryforwards which are expected to be utilized in future years. | |||||||||||||
Income tax expense in 2011 includes a benefit of $2,027 from a reduction in unrecognized tax benefits, primarily related to settlements with tax authorities. In December 2010, the U.S. Congress passed and the President signed the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010, which provided retroactive reinstatement of a research credit. As a result, income tax expense for 2011 includes a tax benefit of $1,580 related to research credit generated in 2010. Income tax expense in 2011 also includes a benefit related to the utilization of loss carryforwards of $682. | |||||||||||||
A reconciliation of the U.S. statutory federal rate to the worldwide consolidated effective tax rate follows: | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Statutory federal income tax rate | 35 | % | 35 | % | 35 | % | |||||||
Domestic Production Deduction | (1.71 | ) | (1.82 | ) | (1.76 | ) | |||||||
Foreign tax rate variances, net of foreign tax credits | (3.39 | ) | (2.31 | ) | (2.51 | ) | |||||||
State and local taxes, net of federal income tax benefit | 0.28 | 0.43 | 0.42 | ||||||||||
Amounts related to prior years | (1.00 | ) | (0.31 | ) | (1.31 | ) | |||||||
Other — net | (0.48 | ) | 0.1 | (0.53 | ) | ||||||||
Effective tax rate | 28.7 | % | 31.09 | % | 29.31 | % | |||||||
The Domestic Production Deduction, enacted by the American Jobs Creation Act of 2004, allows a deduction with respect to income from certain United States manufacturing activities. | |||||||||||||
Earnings before income taxes of international operations, which are calculated before intercompany profit elimination entries, were $146,421, $149,218 and $133,303 in 2013, 2012 and 2011, respectively. Deferred income taxes are not provided on undistributed earnings of international subsidiaries that are intended to be permanently invested in their operations. These undistributed earnings aggregated approximately $510,842 and $400,487 at October 31, 2013 and 2012, respectively. Should these earnings be distributed, applicable foreign tax credits would substantially offset taxes due upon the distribution. It is not practical to estimate the amount of additional taxes that might be payable on such undistributed earnings. | |||||||||||||
At October 31, 2013 and 2012, total unrecognized tax benefits were $5,717 and $3,140, respectively. The amounts that, if recognized, would impact the effective tax rate were $5,178 and $2,601 at October 31, 2013 and 2012, respectively. The increase in unrecognized tax benefits as compared to prior year relates primarily to foreign positions and, if recognized, a substantial portion of the gross unrecognized tax benefits would be offset against assets currently recorded in the Consolidated Balance Sheet. A reconciliation of the beginning and ending amount of unrecognized tax benefits for 2013, 2012 and 2011 is as follows: | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Balance at beginning of year | $ | 3,140 | $ | 2,576 | $ | 4,078 | |||||||
Additions based on tax positions related to the current year | 703 | 148 | 387 | ||||||||||
Additions for tax positions of prior years | 3,261 | 896 | 138 | ||||||||||
Reductions for tax positions of prior years | (317 | ) | — | — | |||||||||
Settlements | — | 0 | (2,027 | ) | |||||||||
Lapse of statute of limitations | (1,070 | ) | (480 | ) | — | ||||||||
Balance at end of year | $ | 5,717 | $ | 3,140 | $ | 2,576 | |||||||
At October 31, 2013 and 2012, we had accrued interest expense related to unrecognized tax benefits of $1,085 and $304, respectively. We include interest accrued related to unrecognized tax benefits in interest expense. Penalties, if incurred, would be recognized as other income (expense). | |||||||||||||
We are subject to United States Federal income tax as well as income taxes in numerous state and foreign jurisdictions. We are subject to examination in the U.S. by the Internal Revenue Service (IRS) for the 2010, 2012 and 2013 tax years; tax years prior to 2010 and the 2011 year have been examined by the IRS. Generally, major state and foreign jurisdiction tax years remain open to examination for tax years after 2007. Within the next twelve months, it is reasonably possible that certain statute of limitations periods would expire, which could result in a decrease in our unrecognized tax benefits in a range of $0 to $470. | |||||||||||||
Significant components of deferred tax assets and liabilities are as follows: | |||||||||||||
2013 | 2012 | ||||||||||||
Deferred tax assets: | |||||||||||||
Employee benefits | $ | 66,148 | $ | 90,707 | |||||||||
Other accruals not currently deductible for taxes | 16,984 | 16,105 | |||||||||||
Tax credit and loss carryforwards | 13,077 | 17,145 | |||||||||||
Inventory adjustments | 4,998 | 5,278 | |||||||||||
Translation of foreign currency accounts | 384 | 929 | |||||||||||
Total deferred tax assets | 101,591 | 130,164 | |||||||||||
Valuation allowance | (5,663 | ) | (5,046 | ) | |||||||||
Total deferred tax assets | 95,928 | 125,118 | |||||||||||
Deferred tax liabilities: | |||||||||||||
Depreciation and amortization | 146,500 | 121,348 | |||||||||||
Other — net | 51 | — | |||||||||||
Total deferred tax liabilities | 146,551 | 121,348 | |||||||||||
Net deferred tax assets (liabilities) | $ | (50,623 | ) | $ | 3,770 | ||||||||
At October 31, 2013, we had $1,498 of tax credit carryforwards of which $122 will expire in 2014 through 2017, and $1,376 of which has an indefinite carryforward period. We also had $16,939 Federal, $51,347 state and $10,980 foreign operating loss carryforwards, of which $68,658 will expire in 2014 through 2033, and $10,608 of which has an indefinite carryforward period. The net change in the valuation allowance was an increase of $617 in 2013 and a decrease of $1,005 in 2012. The valuation allowance of $5,663 at October 31, 2013, relates primarily to tax credits and loss carryforwards that may expire before being realized. We continue to assess the need for valuation allowances against deferred tax assets based on determinations of whether it is more likely than not that deferred tax benefits will be realized. | |||||||||||||
Notes_Payable
Notes Payable | 12 Months Ended | ||||||||
Oct. 31, 2013 | |||||||||
Debt Disclosure [Abstract] | ' | ||||||||
Notes Payable | ' | ||||||||
Note 8 — Notes payable | |||||||||
Bank lines of credit and notes payable are summarized as follows: | |||||||||
2013 | 2012 | ||||||||
Maximum borrowings under bank lines of credit: | |||||||||
Domestic banks | $ | — | $ | 50,000 | |||||
Foreign banks | 83,191 | 40,260 | |||||||
Total | $ | 83,191 | $ | 90,260 | |||||
Outstanding notes payable: | |||||||||
Domestic bank debt | $ | — | $ | 50,000 | |||||
Foreign bank debt | 3,604 | 1 | |||||||
Total | $ | 3,604 | $ | 50,001 | |||||
Weighted-average interest rate on notes payable | 2 | % | 1.1 | % | |||||
Unused bank lines of credit | $ | 79,587 | $ | 40,259 | |||||
In 2012, we entered into a 364-day, $250,000 Credit Agreement with PNC Bank. We borrowed $250,000 under this agreement for acquisitions made in 2012 and then repaid $200,000 using proceed of the Senior Notes described in Note 9, leaving a balance of $50,000 outstanding at October 31, 2012. The remaining balance of this facility was repaid on June 3, 2013. |
Longterm_Debt
Long-term Debt | 12 Months Ended | ||||||||
Oct. 31, 2013 | |||||||||
Debt Disclosure [Abstract] | ' | ||||||||
Long-term Debt | ' | ||||||||
Note 9 — Long-term debt | |||||||||
A summary of long-term debt is as follows: | |||||||||
2013 | 2012 | ||||||||
Revolving credit agreement, due 2017 | $ | 254,000 | $ | 262,450 | |||||
Senior notes, due 2017-2025 | 200,000 | 200,000 | |||||||
Euro loan, due 2016 | 129,058 | — | |||||||
Private shelf facility, due 2012-2020 | 63,889 | 69,445 | |||||||
Senior note, due 2013 | — | 50,000 | |||||||
Development loans, due 2011-2026 | 1,702 | 1,814 | |||||||
Other | 341 | — | |||||||
648,990 | 583,709 | ||||||||
Less current maturities | 10,832 | 55,668 | |||||||
Long-term maturities | $ | 638,158 | $ | 528,041 | |||||
Revolving credit agreement — This $500,000 unsecured multi-currency revolving credit agreement is with a group of banks and expires in December 2016. Payment of quarterly commitment fees is required. The weighted average interest rate for borrowings under this agreement was 1.06 percent at October 31, 2013. | |||||||||
Senior notes, due 2017-2025 —These fixed-rate notes entered into in 2012 with a group of insurance companies had an original weighted-average life of 8.78 years at the time of issuance. The weighted-average interest rate at October 31, 2013 was 2.93 percent. | |||||||||
Euro loan, due 2016 — This loan was entered into in 2013 with The Bank of Tokyo-Mitsubishi UFJ, Ltd. It can be extended by one year at the end of the third and fourth anniversaries. The interest rate is variable based upon the EUR LIBOR rate. The interest rate at October 31, 2013 was 0.99 percent. | |||||||||
Private shelf facility — In 2011, we entered into a $150,000 three-year Private Shelf Note agreement with New York Life Investment Management LLC (NYLIM). The amount of the facility was increased to $175,000 in 2013. Borrowings under the agreement may be up to 12 years, with an average life of up to 10 years, and are unsecured. The interest rate on each borrowing can be fixed or floating and is based upon the market rate at the borrowing date. At October 31, 2013, the amount outstanding under this facility was at a fixed rate of 2.21 percent per annum. | |||||||||
Senior note, due 2013 — This note had a fixed interest rate of 4.98 percent and was repaid as scheduled in 2013. | |||||||||
Development loans, due 2011-2026 — These fixed-rate loans with the State of Ohio and Cuyahoga County, Ohio were issued in 2011 in connection with the construction of our corporate headquarters building and are payable in monthly installments over 15 years beginning in 2011. The interest rate on the State of Ohio loan is 3.00 percent, and the interest rate on the Cuyahoga County loan is 3.50 percent. | |||||||||
Annual maturities — The annual maturities of long-term debt for the five years subsequent to October 31, 2013, are as follows: $10,832 in 2014; $10,757 in 2015; $139,822 in 2016; and $292,095 in 2017 and $26,587 in 2018. | |||||||||
Leases
Leases | 12 Months Ended | ||||||||
Oct. 31, 2013 | |||||||||
Leases [Abstract] | ' | ||||||||
Leases | ' | ||||||||
Note 10 — Leases | |||||||||
We have lease commitments expiring at various dates, principally for manufacturing, warehouse and office space, automobiles and office equipment. Many leases contain renewal options and some contain purchase options and residual guarantees. | |||||||||
Rent expense for all operating leases was approximately $14,835, $13,822 and $12,292 in 2013, 2012 and 2011, respectively. | |||||||||
Amortization of assets recorded under capital leases is recorded in depreciation expense. | |||||||||
Assets held under capitalized leases and included in property, plant and equipment are as follows: | |||||||||
2013 | 2012 | ||||||||
Transportation equipment | $ | 16,261 | $ | 15,697 | |||||
Other | 10,577 | 8,145 | |||||||
Total capitalized leases | 26,838 | 23,842 | |||||||
Accumulated amortization | (10,805 | ) | (7,614 | ) | |||||
Net capitalized leases | $ | 16,033 | $ | 16,228 | |||||
At October 31, 2013, future minimum lease payments under noncancelable capitalized and operating leases are as follows: | |||||||||
Capitalized | Operating | ||||||||
Leases | Leases | ||||||||
Year: | |||||||||
2014 | $ | 7,298 | $ | 12,321 | |||||
2015 | 4,819 | 7,506 | |||||||
2016 | 2,446 | 5,478 | |||||||
2017 | 667 | 4,527 | |||||||
2018 | 403 | 3,292 | |||||||
Later years | 4,806 | 10,289 | |||||||
Total minimum lease payments | 20,439 | $ | 43,413 | ||||||
Less amount representing executory costs | 3,114 | ||||||||
Net minimum lease payments | 17,325 | ||||||||
Less amount representing interest | 1,692 | ||||||||
Present value of net minimum lease payments | 15,633 | ||||||||
Less current portion | 5,521 | ||||||||
Long-term obligations at October 31, 2013 | $ | 10,112 | |||||||
Severance_and_Restructuring_Co
Severance and Restructuring Costs | 12 Months Ended |
Oct. 31, 2013 | |
Restructuring And Related Activities [Abstract] | ' |
Severance and Restructuring Costs | ' |
Note 11 — Severance and restructuring costs | |
During 2013, we recognized severance costs of $811 in the Advanced Technology Systems segment and $315 in the Adhesive Dispensing Systems segment. These costs were associated with restructuring initiatives to optimize global operations. Severance payments in 2013 totaled $784. | |
In order to optimize Industrial Coating Systems operations in Ohio, a restructuring initiative was undertaken in 2012 that resulted in $690 of severance costs. All severance amounts were paid in 2012. | |
In 2011, we announced a restructuring of the Georgia operations of our Adhesive Dispensing Systems segment in order to optimize operations and better serve our customers. The restructuring involved the expansion of our facility in Duluth and construction of a new facility in Swainsboro, where operations from our existing Swainsboro facility, as well as facilities in Norcross and Dawsonville, were transferred. Severance costs and other termination fees associated with this action were $2,326. Of the total expense amount, $769 was recorded in 2012, and $1,557 was recorded in 2011. Payments of $2,326 were made in 2012. In addition, $2,916 of expenses related to production inefficiencies and moving costs were incurred in 2012. Of this amount, $2,040 was recorded in cost of sales, and $876 was recorded in severance and restructuring costs. | |
As a result of this restructuring initiative, we assessed the fair value of the Swainsboro, Norcross and Dawsonville facilities in 2011 and remeasured to fair value two of them using third-party property appraisals or market-corroborated inputs. The amount of Level 2 long-lived assets measured at fair value on a non-recurring basis was $4,150. Impairment losses of $1,322 on the two facilities were recorded in long-lived asset impairments in the Consolidated Statement of Income. The Swainsboro and Norcross facilities were sold in 2012, and the resulting net gain of $830 was included in other income in the Consolidated Statement of Income. | |
In order to optimize Adhesive Dispensing Systems segment operations in Germany, a restructuring initiative was launched in 2011 that resulted in severance costs of $209. Of that amount, $177 was recorded in 2012, and $32 was recorded in 2011. Payments of $206 were made in 2012. In 2011, we also assessed the fair value of a facility and remeasured it to fair value using a third party appraisal. The amount of Level 2 long-lived assets measured at fair value on a non-recurring basis was $932. An impairment loss of $489 was recorded in long-lived asset impairments in the Consolidated Statement of Income. This facility was sold in 2012, and a loss of $117 was recorded in other expense in the Consolidated Statement of Income. |
Fair_Value_Measurements
Fair Value Measurements | 12 Months Ended | ||||||||||||||||
Oct. 31, 2013 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
Fair Value Measurements | ' | ||||||||||||||||
Note 12 — Fair value measurements | |||||||||||||||||
The inputs to the valuation techniques used to measure fair value are classified into the following categories: | |||||||||||||||||
Level 1: Quoted market prices in active markets for identical assets or liabilities. | |||||||||||||||||
Level 2: Observable market based inputs or unobservable inputs that are corroborated by market data. | |||||||||||||||||
Level 3: Unobservable inputs that are not corroborated by market data. | |||||||||||||||||
The following table presents the classification of our assets and liabilities measured at fair value on a recurring basis at October 31, 2013: | |||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | ||||||||||||||
Assets: | |||||||||||||||||
Rabbi trust(a) | $ | 13,611 | $ | — | $ | 13,611 | $ | — | |||||||||
Foreign currency forward contracts(b) | 3,493 | — | 3,493 | — | |||||||||||||
Total assets at fair value | $ | 17,104 | $ | — | $ | 17,104 | $ | — | |||||||||
Liabilities: | |||||||||||||||||
Deferred compensation plans(c) | $ | 7,322 | $ | 7,322 | $ | — | $ | — | |||||||||
Foreign currency forward contracts(b) | 1,180 | — | 1,180 | — | |||||||||||||
Total liabilities at fair value | $ | 8,502 | $ | 7,322 | $ | 1,180 | $ | — | |||||||||
(a) | We maintain a rabbi trust that serves as an investment to shadow our deferred compensation plan liability. The investment assets of the trust consist of life insurance policies for which we recognize income or expense based upon changes in cash surrender value. | ||||||||||||||||
(b) | We enter into foreign currency forward contracts to reduce the risk of foreign currency exposures resulting from receivables, payables, intercompany receivables, intercompany payables and loans denominated in foreign currencies. Foreign exchange contracts are valued using market exchange rates. These foreign exchange contracts are not designated as hedges. | ||||||||||||||||
(c) | Executive officers and other highly compensated employees may defer up to 100 percent of their salary and annual cash incentive compensation and for executive officers, up to 90 percent of their long-term incentive compensation, into various non-qualified deferred compensation plans. Deferrals can be allocated to various market performance measurement funds. Changes in the value of compensation deferred under these plans are recognized each period based on the fair value of the underlying measurement funds. | ||||||||||||||||
Fair value disclosures related to impairments of long-lived assets are disclosed in Note 11, and fair value disclosures related to goodwill and indefinite-lived intangible assets are disclosed in Note 5. | |||||||||||||||||
Financial_Instruments
Financial Instruments | 12 Months Ended | ||||||||||||||||
Oct. 31, 2013 | |||||||||||||||||
Investments All Other Investments [Abstract] | ' | ||||||||||||||||
Financial Instruments | ' | ||||||||||||||||
Note 13 — Financial instruments | |||||||||||||||||
We operate internationally and enter into intercompany transactions denominated in foreign currencies. Consequently, we are subject to market risk arising from exchange rate movements between the dates foreign currency transactions occur and the dates they are settled. We regularly use foreign currency forward contracts to reduce our risks related to most of these transactions. These contracts usually have maturities of 90 days or less and generally require us to exchange foreign currencies for U.S. dollars at maturity, at rates stated in the contracts. These contracts are not designated as hedging instruments under U.S. GAAP. Accordingly, the changes in the fair value of the foreign currency forward contracts are recognized in each accounting period in “other — net” on the Consolidated Statement of Income together with the transaction gain or loss from the related balance sheet position. In 2013, we recognized net gains of $1,437 on foreign currency forward contracts and net losses of $3,651 from the change in fair value of balance sheet positions. In 2012, we recognized net gains of $294 on foreign currency forward contracts and net losses of $1,310 from the change in fair value of balance sheet positions. In 2011, we recognized net losses of $11,277 on foreign currency forward contracts and net gains of $13,477 from the change in fair value of balance sheet positions. We do not use financial instruments for trading or speculative purposes. | |||||||||||||||||
The following table summarizes, by currency, the contracts outstanding at October 31, 2013 and 2012: | |||||||||||||||||
Sell | Buy | ||||||||||||||||
Notional | Fair Market | Notional | Fair Market | ||||||||||||||
Amounts | Value | Amounts | Value | ||||||||||||||
October 31, 2013 contract amounts: | |||||||||||||||||
Euro | $ | 194,531 | $ | 194,187 | $ | 131,198 | $ | 131,825 | |||||||||
Pound sterling | 17,854 | 17,856 | 29,441 | 29,950 | |||||||||||||
Japanese yen | 11,426 | 11,404 | 8,686 | 8,672 | |||||||||||||
Australian dollar | 894 | 899 | 8,653 | 8,986 | |||||||||||||
Hong Kong dollar | 1,935 | 1,935 | 42,140 | 42,132 | |||||||||||||
Singapore dollar | 201 | 201 | 9,815 | 10,065 | |||||||||||||
Others | 5,768 | 5,745 | 24,227 | 24,503 | |||||||||||||
Total | $ | 232,609 | $ | 232,227 | $ | 254,160 | $ | 256,133 | |||||||||
October 31, 2012 contract amounts: | |||||||||||||||||
Euro | $ | 3,186 | $ | 3,220 | $ | 95,370 | $ | 95,769 | |||||||||
Pound sterling | — | — | 28,771 | 28,959 | |||||||||||||
Japanese yen | 5,810 | 5,766 | 15,643 | 15,465 | |||||||||||||
Australian dollar | 515 | 519 | 9,131 | 9,156 | |||||||||||||
Singapore dollar | — | — | 8,626 | 8,681 | |||||||||||||
Others | 4,758 | 4,725 | 19,686 | 19,829 | |||||||||||||
Total | $ | 14,269 | $ | 14,230 | $ | 177,227 | $ | 177,859 | |||||||||
We also use intercompany foreign currency transactions of a long-term investment nature to hedge the value of investment in wholly-owned subsidiaries. For hedges of the net investment in foreign operations, realized and unrealized gains and losses are shown in the cumulative translation adjustment account included in total comprehensive income. For 2013 and 2012, net gains of $699 and $240, respectively, were included in the cumulative translation adjustment account related to foreign denominated fixed-rate debt designated as a hedge of net investment in foreign operations. | |||||||||||||||||
We are exposed to credit-related losses in the event of nonperformance by counterparties to financial instruments. These financial instruments include cash deposits and foreign currency forward contracts. We periodically monitor the credit ratings of these counterparties in order to minimize our exposure. Our customers represent a wide variety of industries and geographic regions. As of October 31, 2013, there were no significant concentrations of credit risk. | |||||||||||||||||
The carrying amounts and fair values of financial instruments, other than receivables and accounts payable, are shown in the table below. The carrying values of receivables and accounts payable approximate fair value due to the short-term nature of these instruments. | |||||||||||||||||
2013 | 2012 | ||||||||||||||||
Carrying | Fair | Carrying | Fair | ||||||||||||||
Amount | Value | Amount | Value | ||||||||||||||
Cash and cash equivalents | $ | 42,375 | $ | 42,375 | $ | 41,239 | $ | 41,239 | |||||||||
Marketable securities | — | — | 279 | 279 | |||||||||||||
Notes payable | 3,604 | 3,604 | 50,001 | 50,001 | |||||||||||||
Long-term debt (including current portion) | 648,990 | 636,904 | 583,709 | 584,624 | |||||||||||||
Foreign currency forward contracts (net) | 2,313 | 2,313 | 671 | 671 | |||||||||||||
We used the following methods and assumptions in estimating the fair value of financial instruments: | |||||||||||||||||
• | Cash, cash equivalents and notes payable are valued at their carrying amounts due to the relatively short period to maturity of the instruments. | ||||||||||||||||
• | Marketable securities are valued at quoted market prices, which are considered to be Level 1 inputs under the fair value hierarchy. | ||||||||||||||||
• | Long-term debt is valued by discounting future cash flows at currently available rates for borrowing arrangements with similar terms and conditions, which are considered to be Level 2 inputs under the fair value hierarchy. | ||||||||||||||||
• | Foreign currency forward contracts are estimated using quoted exchange rates, which are considered to be Level 2 inputs under the fair value hierarchy. |
Capital_Shares
Capital Shares | 12 Months Ended | ||||||||||||
Oct. 31, 2013 | |||||||||||||
Equity [Abstract] | ' | ||||||||||||
Capital Shares | ' | ||||||||||||
Note 14 — Capital shares | |||||||||||||
Preferred — We have authorized 10,000 Series A convertible preferred shares without par value. No preferred shares were outstanding in 2013, 2012 or 2011. | |||||||||||||
Common — We have 160,000 authorized common shares without par value. At October 31, 2013 and 2012, there were 98,023 common shares issued. At October 31, 2013 and 2012, the number of outstanding common shares, net of treasury shares, was 64,218 and 64,257, respectively. | |||||||||||||
Common shares repurchased as part of publicly announced programs during 2013, 2012 and 2011 were as follows: | |||||||||||||
Year | Number of | Total | Average | ||||||||||
Shares | Amount | per Share | |||||||||||
2013 | 459 | $ | 30,443 | $ | 66.29 | ||||||||
2012 | 1,831 | $ | 86,022 | $ | 46.98 | ||||||||
2011 | 3,024 | $ | 134,163 | $ | 44.37 |
StockBased_Compensation
Stock-Based Compensation | 12 Months Ended | ||||||||||||||||
Oct. 31, 2013 | |||||||||||||||||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ||||||||||||||||
Stock-Based Compensation | ' | ||||||||||||||||
Note 15 — Stock-based compensation | |||||||||||||||||
At the 2013 Annual Meeting of Shareholders on February 26, 2013, our shareholders approved the 2012 Stock Incentive and Award Plan (the “2012 Plan”). The 2012 Plan provides for the granting of stock options, stock appreciation rights, restricted stock, performance shares, stock purchase rights, stock equivalent units, cash awards and other stock or performance-based incentives. A maximum of 2,900 common shares is available for grant under the Plan, inclusive of shares available to be granted under the 2008 Plan immediately prior to shareholder approval of the 2012 Plan. | |||||||||||||||||
Stock options — Nonqualified or incentive stock options may be granted to our employees and directors. Generally, options granted to employees may be exercised beginning one year from the date of grant at a rate not exceeding 25 percent per year and expire 10 years from the date of grant. Vesting accelerates upon the occurrence of events that involve or may result in a change of control. Option exercises are satisfied through the issuance of treasury shares on a first-in, first-out basis. We recognized compensation expense of $4,906, $3,789 and $2,906 for 2013, 2012 and 2011, respectively. | |||||||||||||||||
Following is a summary of stock options for 2013: | |||||||||||||||||
Number of | Weighted-Average | Aggregate | Weighted- | ||||||||||||||
Options | Exercise Price Per | Intrinsic | Average | ||||||||||||||
Share | Value | Remaining | |||||||||||||||
Term | |||||||||||||||||
Outstanding at October 31, 2012 | 1,764 | $ | 28.35 | ||||||||||||||
Granted | 283 | $ | 61.61 | ||||||||||||||
Exercised | (283 | ) | $ | 21.72 | |||||||||||||
Forfeited or expired | (15 | ) | $ | 48.38 | |||||||||||||
Outstanding at October 31, 2013 | 1,749 | $ | 34.63 | $ | 65,492 | 6.1 years | |||||||||||
Vested at October 31, 2013 or expected to vest | 1,699 | $ | 34.22 | $ | 64,348 | 6.1 years | |||||||||||
Exercisable at October 31, 2013 | 942 | $ | 25.07 | $ | 44,276 | 4.7 years | |||||||||||
Summarized information on currently outstanding options follows: | |||||||||||||||||
Range of Exercise Price | |||||||||||||||||
$14 — $20 | $21 — $31 | $32 — $63 | |||||||||||||||
Number outstanding | 452 | 500 | 797 | ||||||||||||||
Weighted-average remaining contractual life, in years | 3.8 | 5 | 8.1 | ||||||||||||||
Weighted-average exercise price | $ | 16.15 | $ | 27.15 | $ | 49.82 | |||||||||||
Number exercisable | 401 | 391 | 150 | ||||||||||||||
Weighted-average exercise price | $ | 16.37 | $ | 26.96 | $ | 43.47 | |||||||||||
As of October 31, 2013, there was $9,631 of total unrecognized compensation cost related to nonvested stock options. That cost is expected to be amortized over a weighted average period of approximately 1.7 years. | |||||||||||||||||
The Black-Scholes option valuation model was developed for use in estimating the fair value of traded options that have no vesting restrictions and are fully transferable. Option valuation models require the input of highly subjective assumptions, including the expected stock price volatility. The fair value of each option grant was estimated at the date of grant using the Black-Scholes option-pricing model with the following assumptions: | |||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||
Expected volatility | 45.3%-46.9% | 45.4%-46.9% | 43.1%-45.1% | ||||||||||||||
Expected dividend yield | 0.97%-1.01% | 1.20% | 1.28% | ||||||||||||||
Risk-free interest rate | 0.75%-0.90% | 1.03%-1.23% | 1.89%-2.25% | ||||||||||||||
Expected life of the option (in years) | 5.4-6.1 | 5.4-6.1 | 5.4-6.3 | ||||||||||||||
The weighted-average expected volatility used to value options granted in 2013, 2012 and 2011 was 46.3 percent, 46.2 percent and 44.3 percent, respectively. | |||||||||||||||||
Historical information was the primary basis for the selection of the expected volatility, expected dividend yield and the expected lives of the options. The risk-free interest rate was selected based upon yields of United States Treasury issues with terms equal to the expected life of the option being valued. | |||||||||||||||||
The weighted average grant date fair value of stock options granted during 2013, 2012 and 2011 was $24.12, $17.03 and $16.80, respectively. | |||||||||||||||||
The total intrinsic value of options exercised during 2013, 2012 and 2011 was $12,892, $13,329 and $23,076, respectively. Cash received from the exercise of stock options for 2013, 2012 and 2011 was $6,018, $4,934 and $9,652, respectively. The tax benefit realized from tax deductions from exercises for 2013, 2012 and 2011 was $5,531, $4,792 and $6,924, respectively. | |||||||||||||||||
Restricted stock — We may grant restricted shares to our employees and directors. These shares may not be transferred for a designated period of time (generally one to three years) defined at the date of grant. | |||||||||||||||||
For employee recipients, in the event of termination of employment due to early retirement, restricted shares granted within 12 months prior to termination are forfeited, and other restricted shares are forfeited on a pro-rata basis. In the event of termination of employment due to retirement at normal retirement age (age 65) restricted shares granted within 12 months prior to termination are forfeited, and, for other restricted shares, the restriction period will terminate and the shares will vest and be transferable. Restrictions lapse in the event of a recipient’s disability or death. Termination for any other reason prior to the lapse of any restrictions results in forfeiture of the shares. | |||||||||||||||||
For non-employee directors, all restrictions lapse in the event of disability or death of the non-employee director. Termination of service as a director for any other reason within one year of date of grant results in a pro-rata forfeiture of shares. | |||||||||||||||||
As shares are issued, deferred stock-based compensation equivalent to the fair market value on the date of grant is charged to shareholders’ equity and subsequently amortized over the vesting period. Tax benefits arising from the lapse of restrictions on the stock are recognized when realized and credited to capital in excess of stated value. | |||||||||||||||||
The following table summarizes 2013 activity related to restricted stock: | |||||||||||||||||
Number of | Weighted-Average | ||||||||||||||||
Shares | Grant Date Fair | ||||||||||||||||
Value Per Share | |||||||||||||||||
Restricted at October 31, 2012 | 100 | $ | 40.58 | ||||||||||||||
Granted | 36 | $ | 62.08 | ||||||||||||||
Vested | (51 | ) | $ | 35.85 | |||||||||||||
Forfeited | (3 | ) | $ | 48.18 | |||||||||||||
Restricted at October 31, 2013 | 82 | $ | 52.67 | ||||||||||||||
As of October 31, 2013, there was $1,827 of unrecognized compensation cost related to restricted stock. The cost is expected to be amortized over a weighted average period of 1.7 years. The amount charged to expense related to restricted stock was $2,464, $1,724 and $1,278 in 2013, 2012 and 2011, respectively. | |||||||||||||||||
Deferred directors’ compensation — Non-employee directors may defer all or part of their compensation until retirement. Compensation may be deferred as cash or as stock equivalent units. Deferred cash amounts are recorded as liabilities. Additional stock equivalent units are earned when common stock dividends are declared. | |||||||||||||||||
The following table summarizes activity related to director deferred compensation share equivalent units during 2013: | |||||||||||||||||
Number of | Weighted-Average | ||||||||||||||||
Shares | Grant Date Fair | ||||||||||||||||
Value Per Share | |||||||||||||||||
Outstanding at October 31, 2012 | 200 | $ | 19.44 | ||||||||||||||
Deferrals | 1 | $ | 69.39 | ||||||||||||||
Restricted stock units vested | 11 | $ | 45.2 | ||||||||||||||
Dividend equivalents | 1 | $ | 68.03 | ||||||||||||||
Distributions | (65 | ) | $ | 17.03 | |||||||||||||
Outstanding at October 31, 2013 | 148 | $ | 23.22 | ||||||||||||||
The amount charged to expense related to this plan was $183, $265 and $265 in 2013, 2012 and 2011, respectively. | |||||||||||||||||
Long-term incentive plan — Under the long-term incentive plan, executive officers and selected other key employees receive common stock unit awards based on corporate performance measures over three-year performance periods. Awards vary based on the degree to which corporate performance exceeds predetermined threshold, target and maximum performance levels at the end of a performance period. No award will occur unless certain threshold performance objectives are exceeded. | |||||||||||||||||
The amount of compensation expense is based upon current performance projections for each three-year period and the percentage of the requisite service that has been rendered. The calculations are also based upon the grant date fair value determined using the closing market price of common stock at the grant date, adjusted for dividends not to be paid. This value was $59.59 per share for 2013, $42.12 per share for 2012 and $42.02 per share for 2011. The cumulative amounts recorded in shareholders’ equity at October 31, 2013, 2012 and 2011 were $8,083, $8,707 and $6,081, respectively. The amounts charged to expense for executive officers and selected other key employees in 2013, 2012 and 2011 were $3,588, $4,235 and $4,067, respectively. | |||||||||||||||||
Shares reserved for future issuance — At October 31, 2013, there were 2,657 of common shares reserved for future issuance through the exercise of outstanding options or rights. |
Operating_Segments_and_Geograp
Operating Segments and Geographic Area Data | 12 Months Ended | ||||||||||||||||||||
Oct. 31, 2013 | |||||||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||||||
Operating Segments and Geographic Area Data | ' | ||||||||||||||||||||
Note 16 — Operating segments and geographic area data | |||||||||||||||||||||
We conduct business in three primary operating segments: Adhesive Dispensing Systems, Advanced Technology Systems, and Industrial Coating Systems. The composition of segments and measure of segment profitability is consistent with that used by our chief operating decision maker. The primary measure used by the chief operating decision maker for purposes of making decisions about allocating resources to the segments and assessing performance is operating profit, which equals sales less cost of sales and certain operating expenses. Items below the operating profit line of the Consolidated Statement of Income (interest and investment income, interest expense and other income/expense) are excluded from the measure of segment profitability reviewed by our chief operating decision maker and are not presented by operating segment. In addition, the measure of segment operating profit that is reported to and reviewed by the chief operating decision maker excludes expense in 2011 related to the withdrawal from a multiemployer employee pension fund in Japan. The accounting policies of the segments are generally the same as those described in Note 1, Significant Accounting Policies. | |||||||||||||||||||||
No single customer accounted for ten percent or more of sales in 2013, 2012 or 2011. | |||||||||||||||||||||
The following table presents information about our reportable segments: | |||||||||||||||||||||
Adhesive | Advanced | Industrial | Corporate | Total | |||||||||||||||||
Dispensing | Technology | Coating | |||||||||||||||||||
Systems | Systems | Systems | |||||||||||||||||||
Year ended October 31, 2013 | |||||||||||||||||||||
Net external sales | $ | 793,488 | $ | 516,266 | $ | 233,167 | $ | — | $ | 1,542,921 | |||||||||||
Depreciation | 15,638 | 9,180 | 3,370 | 3,578 | 31,766 | ||||||||||||||||
Operating profit | 203,757 | (a) | 123,403 | (b) | 33,786 | (37,097 | ) | 323,849 | |||||||||||||
Identifiable assets(c) | 750,616 | 721,524 | 113,835 | 456,919 | (d) | 2,042,894 | |||||||||||||||
Expenditures for long-lived assets | 20,498 | 10,080 | 6,239 | 10,402 | 47,219 | ||||||||||||||||
Year ended October 31, 2012 | |||||||||||||||||||||
Net external sales | $ | 684,096 | $ | 515,992 | $ | 209,490 | $ | — | $ | 1,409,578 | |||||||||||
Depreciation | 9,532 | 8,695 | 3,141 | 3,101 | 24,469 | ||||||||||||||||
Operating profit (loss) | 211,072 | (a) | 134,074 | 25,933 | (e) | (35,599 | ) | 335,480 | |||||||||||||
Identifiable assets(c) | 611,357 | 718,354 | 110,982 | 395,331 | (d) | 1,836,024 | |||||||||||||||
Expenditures for long-lived assets | 14,612 | 6,871 | 4,602 | 4,874 | 30,959 | ||||||||||||||||
Year ended October 31, 2011 | |||||||||||||||||||||
Net external sales | $ | 611,911 | $ | 437,232 | $ | 184,016 | $ | — | $ | 1,233,159 | |||||||||||
Depreciation | 7,087 | 7,851 | 2,855 | 2,965 | 20,758 | ||||||||||||||||
Operating profit | 210,350 | (a) | 114,660 | 27,220 | (36,687 | )(f) | 315,543 | ||||||||||||||
Identifiable assets(c) | 286,974 | 691,479 | 71,438 | 270,500 | (d) | 1,320,391 | |||||||||||||||
Expenditures for long-lived assets | 4,477 | 4,833 | 2,437 | 8,492 | 20,239 | ||||||||||||||||
(a) | Includes $315 of severance and restructuring costs in 2013. Includes $3,862 of cost of goods sold — restructuring and severance and restructuring costs in 2012. Includes $1,811 of impairment charges related to the write down of assets to fair value and $1,589 of severance charges and other termination fees in 2011. | ||||||||||||||||||||
(b) | Includes $811 of severance and restructuring costs. | ||||||||||||||||||||
(c) | Operating segment identifiable assets include notes and accounts receivable net of customer advance payments and allowance for doubtful accounts, inventories net of reserves, property, plant and equipment net of accumulated depreciation and goodwill. | ||||||||||||||||||||
(d) | Corporate assets are principally cash and cash equivalents, deferred income taxes, capital leases, headquarter facilities, the major portion of our enterprise management system, and intangible assets. | ||||||||||||||||||||
(e) | Includes $690 of severance and restructuring costs. | ||||||||||||||||||||
(f) | Includes $3,120 of expense related to the withdrawal from a multi-employer employee pension plan in Japan. | ||||||||||||||||||||
We have significant sales and long-lived assets in the following geographic areas: | |||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||
Net external sales | |||||||||||||||||||||
United States | $ | 465,789 | $ | 388,904 | $ | 312,328 | |||||||||||||||
Americas | 123,654 | 109,074 | 102,077 | ||||||||||||||||||
Europe | 416,725 | 381,005 | 390,319 | ||||||||||||||||||
Japan | 127,945 | 127,509 | 111,003 | ||||||||||||||||||
Asia Pacific | 408,808 | 403,086 | 317,432 | ||||||||||||||||||
Total net external sales | $ | 1,542,921 | $ | 1,409,578 | $ | 1,233,159 | |||||||||||||||
Long-lived assets | |||||||||||||||||||||
United States | $ | 136,551 | $ | 127,486 | $ | 90,994 | |||||||||||||||
Americas | 4,154 | 3,180 | 2,933 | ||||||||||||||||||
Europe | 22,576 | 14,896 | 16,312 | ||||||||||||||||||
Japan | 4,384 | 3,431 | 3,496 | ||||||||||||||||||
Asia Pacific | 33,314 | 25,938 | 17,148 | ||||||||||||||||||
Total long-lived assets | $ | 200,979 | $ | 174,931 | $ | 130,883 | |||||||||||||||
A reconciliation of total segment operating income to total consolidated income before income taxes is as follows: | |||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||
Total profit for reportable segments | $ | 323,849 | $ | 335,480 | $ | 315,543 | |||||||||||||||
Interest expense | (14,841 | ) | (11,153 | ) | (5,069 | ) | |||||||||||||||
Interest and investment income | 421 | 463 | 569 | ||||||||||||||||||
Other-net | 1,694 | 1,463 | 3,518 | ||||||||||||||||||
Income before income taxes | $ | 311,123 | $ | 326,253 | $ | 314,561 | |||||||||||||||
A reconciliation of total assets for reportable segments to total consolidated assets is as follows: | |||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||
Total assets for reportable segments | $ | 2,042,894 | $ | 1,836,024 | $ | 1,320,391 | |||||||||||||||
Customer advance payments | 28,341 | 20,894 | 9,375 | ||||||||||||||||||
Eliminations | (28,946 | ) | (27,403 | ) | (25,316 | ) | |||||||||||||||
Total consolidated assets | $ | 2,042,289 | $ | 1,829,515 | $ | 1,304,450 | |||||||||||||||
Supplemental_Information_for_t
Supplemental Information for the Statement of Cash Flows | 12 Months Ended | ||||||||||||
Oct. 31, 2013 | |||||||||||||
Supplemental Cash Flow Elements [Abstract] | ' | ||||||||||||
Supplemental Information for the Statement of Cash Flows | ' | ||||||||||||
Note 17 — Supplemental information for the statement of cash flows | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Cash operating activities: | |||||||||||||
Interest paid | $ | 16,037 | $ | 9,285 | $ | 4,972 | |||||||
Income taxes paid | 93,074 | 70,935 | 96,487 | ||||||||||
Non-cash investing and financing activities: | |||||||||||||
Capitalized lease obligations incurred | $ | 6,441 | $ | 12,981 | $ | 8,154 | |||||||
Capitalized lease obligations terminated | 468 | 894 | 534 | ||||||||||
Shares acquired and issued through exercise of stock options | 148 | 2,323 | 5,228 |
Quarterly_Financial_Data_Unaud
Quarterly Financial Data (Unaudited) | 12 Months Ended | ||||||||||||||||
Oct. 31, 2013 | |||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | ||||||||||||||||
Quarterly Financial Data (Unaudited) | ' | ||||||||||||||||
Note 18 — Quarterly financial data (unaudited) | |||||||||||||||||
First | Second | Third | Fourth | ||||||||||||||
2013:00:00 | |||||||||||||||||
Sales | $ | 347,043 | $ | 382,100 | $ | 402,960 | $ | 410,818 | |||||||||
Gross margin | 197,229 | 216,938 | 225,083 | 226,894 | |||||||||||||
Net income | 42,011 | 54,605 | 65,424 | 59,777 | |||||||||||||
Earnings per share: | |||||||||||||||||
Basic | 0.65 | 0.85 | 1.02 | 0.93 | |||||||||||||
Diluted | 0.65 | 0.84 | 1.01 | 0.92 | |||||||||||||
2012:00:00 | |||||||||||||||||
Sales | $ | 275,836 | $ | 315,193 | $ | 379,872 | $ | 438,677 | |||||||||
Gross margin | 169,346 | 189,656 | 223,214 | 241,073 | |||||||||||||
Net income | 38,338 | 52,111 | 66,694 | 67,686 | |||||||||||||
Earnings per share: | |||||||||||||||||
Basic | 0.59 | 0.81 | 1.04 | 1.06 | |||||||||||||
Diluted | 0.58 | 0.8 | 1.03 | 1.04 | |||||||||||||
The sum of the per-share amounts for the four quarters of 2013 and 2012 do not equal the annual per-share amounts due to differences in the average number of shares outstanding during the respective periods. | |||||||||||||||||
During the third quarter of 2013, we recorded a pre-tax gain of $2,116 on the sale of real estate in China. During the first quarter of 2013, we recorded a favorable adjustment to unrecognized tax benefits of $900 primarily related to expiration of certain foreign statutes of limitations. On January 2, 2013, the American Taxpayer Relief Act of 2012 was enacted which retroactively reinstated and extended the Federal Research and Development Tax Credit (Federal R&D Tax Credit) from January 1, 2012 to December 31, 2013 and extended certain other tax provisions. As a result, our income tax provision for the first quarter of 2013 included a discrete tax benefit of $1,700 related to 2012. | |||||||||||||||||
During the first quarter of 2012, pre-tax severance and restructuring costs of $811 and pre-tax costs of $682 related to the termination of a pension plan were recorded. During the second quarter of 2012, pre-tax severance and restructuring costs of $3,776 were recorded. Of this amount, $2,040 was recorded in cost of sales. During the fourth quarter of 2012, a pre-tax gain of $832 on the sale of real estate was recorded. |
Contingencies
Contingencies | 12 Months Ended |
Oct. 31, 2013 | |
Commitments And Contingencies Disclosure [Abstract] | ' |
Contingencies | ' |
Note 19 — Contingencies | |
We are involved in pending or potential litigation regarding environmental, product liability, patent, contract, employee and other matters arising from the normal course of business. Including the environmental matter discussed below, it is our opinion, after consultation with legal counsel, that resolutions of these matters are not expected to result in a material effect on our financial condition, quarterly or annual operating results or cash flows. | |
Environmental – We have voluntarily agreed with the City of New Richmond, Wisconsin and other Potentially Responsible Parties to share costs associated with the remediation of the City of New Richmond municipal landfill (the “Site”) and constructing a potable water delivery system serving the impacted area down gradient of the Site. At October 31, 2013, and 2012 our accrual for the ongoing operation, maintenance and monitoring obligation at the Site was $668 and $750, respectively. The liability for environmental remediation represents management’s best estimate of the probable and reasonably estimable undiscounted costs related to known remediation obligations. The accuracy of our estimate of environmental liability is affected by several uncertainties such as additional requirements that may be identified in connection with remedial activities, the complexity and evolution of environmental laws and regulations, and the identification of presently unknown remediation requirements. Consequently, our liability could be greater than our current estimate. However, we do not expect that the costs associated with remediation will have a material adverse effect on our financial condition or results of operations. |
Schedule_II_Valuation_and_Qual
Schedule II - Valuation and Qualifying Accounts and Reserves | 12 Months Ended | ||||||||||||||||||||||||
Oct. 31, 2013 | |||||||||||||||||||||||||
Valuation And Qualifying Accounts [Abstract] | ' | ||||||||||||||||||||||||
Schedule II - Valuation and Qualifying Accounts and Reserves | ' | ||||||||||||||||||||||||
Schedule II – Valuation and Qualifying Accounts and Reserves | |||||||||||||||||||||||||
Balance at | Assumed | Charged | Deductions | Currency | Balance | ||||||||||||||||||||
Beginning | from | to | Effects | at End | |||||||||||||||||||||
of Year | Acquisitions | Expense | of Year | ||||||||||||||||||||||
Allowance for Doubtful Accounts | |||||||||||||||||||||||||
2011 | $ | 3,353 | 22 | 977 | 1,047 | 6 | $ | 3,311 | |||||||||||||||||
2012 | $ | 3,311 | 648 | 710 | 801 | (92 | ) | $ | 3,776 | ||||||||||||||||
2013 | $ | 3,776 | 256 | 885 | 698 | 46 | $ | 4,265 | |||||||||||||||||
Inventory Obsolescence and Other Reserves | |||||||||||||||||||||||||
2011 | $ | 16,802 | 8 | 3,982 | 4,850 | 108 | $ | 16,050 | |||||||||||||||||
2012 | $ | 16,050 | 2,071 | 6,033 | 3,237 | (412 | ) | $ | 20,505 | ||||||||||||||||
2013 | $ | 20,505 | 3,969 | 5,075 | 2,961 | (9 | ) | $ | 26,579 |
Significant_Accounting_Policie1
Significant Accounting Policies (Policies) | 12 Months Ended | ||||||||
Oct. 31, 2013 | |||||||||
Accounting Policies [Abstract] | ' | ||||||||
Consolidation | ' | ||||||||
Consolidation —The consolidated financial statements include the accounts of Nordson Corporation and its majority-owned and controlled subsidiaries. Investments in affiliates and joint ventures in which our ownership is 50 percent or less or in which we do not have control but have the ability to exercise significant influence, are accounted for under the equity method. All significant intercompany accounts and transactions have been eliminated in consolidation. | |||||||||
Use of Estimates | ' | ||||||||
Use of estimates — The preparation of financial statements in conformity with generally accepted accounting principles in the United States requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and notes. Actual amounts could differ from these estimates. | |||||||||
Presentation | ' | ||||||||
Presentation — Certain amounts for 2012 have been reclassified to conform to 2013 presentation. | |||||||||
Fiscal Year | ' | ||||||||
Fiscal year — Our fiscal year is November 1 through October 31. | |||||||||
Revenue Recognition | ' | ||||||||
Revenue recognition —Most of our revenues are recognized upon shipment, provided that persuasive evidence of an arrangement exists, the sales price is fixed or determinable, collectability is reasonably assured, and title and risk of loss have passed to the customer. | |||||||||
A relative selling price hierarchy exists for determining the selling price of deliverables in multiple deliverable arrangements. Vendor specific objective evidence (VSOE) is used, if available. Third-party evidence (TPE) is used if VSOE is not available, and best estimated selling price (BESP) is used if neither VSOE nor TPE is available. Our multiple deliverable arrangements include installation, installation supervision, training, and spare parts, which tend to be completed in a short period of time, at an insignificant cost, and utilizing skills not unique to us, therefore, are typically regarded as inconsequential or perfunctory. Revenue for undelivered items is deferred and included within accrued liabilities in the accompanying balance sheet. Revenues deferred in 2013, 2012 and 2011 were not material. | |||||||||
Shipping and Handling Costs | ' | ||||||||
Shipping and handling costs — Amounts billed to customers for shipping and handling are recorded as revenue. Shipping and handling expenses are included in cost of sales. | |||||||||
Advertising Costs | ' | ||||||||
Advertising costs — Advertising costs are expensed as incurred and were $12,480, $10,935 and $9,008 in 2013, 2012 and 2011, respectively. | |||||||||
Research and Development | ' | ||||||||
Research and development — Research and development costs are expensed as incurred and were $47,973, $36,535 and $26,997 in 2013, 2012 and 2011, respectively. | |||||||||
Earnings Per Share | ' | ||||||||
Earnings per share — Basic earnings per share are computed based on the weighted-average number of common shares outstanding during each year, while diluted earnings per share are based on the weighted-average number of common shares and common share equivalents outstanding. Common share equivalents consist of shares issuable upon exercise of stock options computed using the treasury stock method, as well as restricted stock and deferred stock-based compensation. Options whose exercise price is higher than the average market price are excluded from the calculation of diluted earnings per share because the effect would be anti-dilutive. No options for common shares were excluded from the 2013 diluted earnings per share calculation. Options for 75 and 71 common shares were excluded from the diluted earnings per share calculation in 2012 and 2011, respectively, because their effect would have been anti-dilutive. Under the long-term incentive plan, executive officers and selected other key employees receive common share awards based on corporate performance measures over three-year performance periods. Awards for which performance measures have not been met were excluded from the calculation of diluted earnings per share. | |||||||||
Cash and Cash Equivalents | ' | ||||||||
Cash and cash equivalents — Highly liquid instruments with maturities of 90 days or less at date of purchase are considered to be cash equivalents. Cash and cash equivalents are carried at cost, which approximates fair value. | |||||||||
Allowance for Doubtful Accounts | ' | ||||||||
Allowance for doubtful accounts — An allowance for doubtful accounts is maintained for estimated losses resulting from the inability of customers to make required payments. The amount of the allowance is determined principally on the basis of past collection experience and known factors regarding specific customers. Accounts are written off against the allowance when it becomes evident that collection will not occur. | |||||||||
Inventories | ' | ||||||||
Inventories — Inventories are valued at the lower of cost or market. Cost was determined using the last-in, first-out (LIFO) method for 21 percent of consolidated inventories at October 31, 2013, and 24 percent at October 31, 2012. The first-in, first-out (FIFO) method is used for all other inventories. Consolidated inventories would have been $6,797 and $6,810 higher than reported at October 31, 2013 and October 31, 2012, respectively, had the FIFO method, which approximates current cost, been used for valuation of all inventories. | |||||||||
Property, Plant and Equipment and Depreciation | ' | ||||||||
Property, plant and equipment and depreciation — Property, plant and equipment are carried at cost. Additions and improvements that extend the lives of assets are capitalized, while expenditures for repairs and maintenance are expensed as incurred. Plant and equipment are depreciated for financial reporting purposes using the straight-line method over the estimated useful lives of the assets or, in the case of property under capital leases, over the terms of the leases. Leasehold improvements are depreciated over the shorter of the lease term or their useful lives. Useful lives are as follows: | |||||||||
Land improvements | 15-25 years | ||||||||
Buildings | 20-40 years | ||||||||
Machinery and equipment | 3-12 years | ||||||||
Enterprise management systems | 5-13 years | ||||||||
Depreciation expense is included in cost of sales and selling and administrative expenses. | |||||||||
Internal use software costs are expensed or capitalized depending on whether they are incurred in the preliminary project stage, application development stage or the post-implementation stage. Amounts capitalized are amortized over the estimated useful lives of the software beginning with the project’s completion. All re-engineering costs are expensed as incurred. Interest costs on significant capital projects are capitalized. No interest was capitalized in 2013, 2012 or 2011. | |||||||||
Goodwill and Intangible Assets | ' | ||||||||
Goodwill and intangible assets — Goodwill is the excess of cost of an acquired entity over the amounts assigned to assets acquired and liabilities assumed in a business combination. The majority of goodwill relates to and is assigned directly to specific reporting units. Goodwill is not amortized but is subject to annual impairment testing. Our annual impairment testing is performed as of August 1. Testing is done more frequently if an event occurs or circumstances change that would indicate the fair value of a reporting unit is less than the carrying amount of those assets. | |||||||||
Other amortizable intangible assets, which consist primarily of patent/technology costs, customer relationships, noncompete agreements, and trade names, are amortized over their useful lives on a straight-line basis. At October 31, 2013, the weighted average useful lives for each major category of amortizable intangible assets were: | |||||||||
Patent/technology costs | 14 years | ||||||||
Customer relationships | 18 years | ||||||||
Noncompete agreements | 5 years | ||||||||
Trade names | 16 years | ||||||||
Foreign Currency Translation | ' | ||||||||
Foreign currency translation — The financial statements of subsidiaries outside the United States are generally measured using the local currency as the functional currency. Assets and liabilities of these subsidiaries are translated at the rates of exchange at the balance sheet dates. Income and expense items are translated at average monthly rates of exchange. The resulting translation adjustments are included in accumulated other comprehensive income (loss), a separate component of shareholders’ equity. Generally, gains and losses from foreign currency transactions, including forward contracts, of these subsidiaries and the United States parent are included in net income. Gains and losses from intercompany foreign currency transactions of a long-term investment nature are included in accumulated other comprehensive income (loss). | |||||||||
Accumulated Other Comprehensive Loss | ' | ||||||||
Accumulated other comprehensive loss — Accumulated other comprehensive loss at October 31, 2013 and 2012 consisted of: | |||||||||
2013 | 2012 | ||||||||
Translation adjustments | $ | 26,699 | $ | 26,234 | |||||
Pension and postretirement benefit plan adjustments | (84,079 | ) | (130,460 | ) | |||||
$ | (57,380 | ) | $ | (104,226 | ) | ||||
Warranties | ' | ||||||||
Warranties — Our standard warranty program provides for repair or replacement of defective products within a specified time period (generally one year) measured from the date of delivery or first use. The estimate for future warranty-related costs is calculated based on actual historical return rates. Based on analysis of return rates and other factors, warranty provisions are adjusted as necessary. The liability for warranty costs is included in other accrued liabilities in the Consolidated Balance Sheet. | |||||||||
Following is a reconciliation of the product warranty liability for 2013 and 2012: | |||||||||
2013 | 2012 | ||||||||
Balance at beginning of year | $ | 8,929 | $ | 6,723 | |||||
Accruals for warranties | 7,891 | 5,430 | |||||||
Warranty assumed from acquisitions | 947 | 2,252 | |||||||
Warranty payments | (8,356 | ) | (5,307 | ) | |||||
Currency adjustments | (2 | ) | (169 | ) | |||||
Balance at end of year | $ | 9,409 | $ | 8,929 | |||||
Significant_Accounting_Policie2
Significant Accounting Policies (Tables) | 12 Months Ended | ||||||||
Oct. 31, 2013 | |||||||||
Accounting Policies [Abstract] | ' | ||||||||
Useful Lives of Property, Plant and Equipment and Depreciation | ' | ||||||||
Useful lives are as follows: | |||||||||
Land improvements | 15-25 years | ||||||||
Buildings | 20-40 years | ||||||||
Machinery and equipment | 3-12 years | ||||||||
Enterprise management systems | 5-13 years | ||||||||
Weighted Average Useful Lives for Each Major Category of Amortizable Intangible Assets | ' | ||||||||
The weighted average useful lives for each major category of amortizable intangible assets were: | |||||||||
Patent/technology costs | 14 years | ||||||||
Customer relationships | 18 years | ||||||||
Noncompete agreements | 5 years | ||||||||
Trade names | 16 years | ||||||||
Accumulated Other Comprehensive Loss | ' | ||||||||
Accumulated other comprehensive loss — Accumulated other comprehensive loss at October 31, 2013 and 2012 consisted of: | |||||||||
2013 | 2012 | ||||||||
Translation adjustments | $ | 26,699 | $ | 26,234 | |||||
Pension and postretirement benefit plan adjustments | (84,079 | ) | (130,460 | ) | |||||
$ | (57,380 | ) | $ | (104,226 | ) | ||||
Reconciliation of Product Warranty Liability | ' | ||||||||
Following is a reconciliation of the product warranty liability for 2013 and 2012: | |||||||||
2013 | 2012 | ||||||||
Balance at beginning of year | $ | 8,929 | $ | 6,723 | |||||
Accruals for warranties | 7,891 | 5,430 | |||||||
Warranty assumed from acquisitions | 947 | 2,252 | |||||||
Warranty payments | (8,356 | ) | (5,307 | ) | |||||
Currency adjustments | (2 | ) | (169 | ) | |||||
Balance at end of year | $ | 9,409 | $ | 8,929 | |||||
Acquisitions_Tables
Acquisitions (Tables) | 12 Months Ended | ||||||||
Oct. 31, 2013 | |||||||||
2012 Acquisitions [Member] | ' | ||||||||
Allocation of Purchase Price | ' | ||||||||
The following table summarizes the combined purchase price allocation of the estimated fair values of the assets acquired and liabilities assumed at the transaction dates. | |||||||||
Fair values: | |||||||||
Current assets | $ | 70,391 | |||||||
Non-current assets | 58,275 | ||||||||
Intangible assets subject to amortization | 122,216 | ||||||||
Goodwill | 271,501 | ||||||||
Current liabilities | (31,426 | ) | |||||||
Non-current liabilities | (34,059 | ) | |||||||
456,898 | |||||||||
Less cash acquired | (8,403 | ) | |||||||
Purchase price | $ | 448,495 | |||||||
Business Acquisition Pro forma of Financial Information | ' | ||||||||
2012 | 2011 | ||||||||
Sales | $ | 1,537,251 | $ | 1,429,798 | |||||
Net income | $ | 234,092 | $ | 225,867 | |||||
Basic earnings per share | $ | 3.63 | $ | 3.34 | |||||
Diluted earnings per share | $ | 3.6 | $ | 3.3 | |||||
Value Plastics [Member] | ' | ||||||||
Allocation of Purchase Price | ' | ||||||||
The allocation of purchase price is shown in the table below. | |||||||||
Fair values: | |||||||||
Assets acquired | $ | 27,101 | |||||||
Liabilities assumed | (19,288 | ) | |||||||
Intangible assets subject to amortization | 74,720 | ||||||||
Goodwill | 178,954 | ||||||||
261,487 | |||||||||
Less cash acquired | (3,108 | ) | |||||||
Purchase price | $ | 258,379 | |||||||
Business Acquisition Pro forma of Financial Information | ' | ||||||||
Sales | $ | 1,259,127 | |||||||
Net income | $ | 224,934 | |||||||
Basic earnings per share | $ | 3.33 | |||||||
Diluted earnings per share | $ | 3.29 |
Details_of_Balance_Sheet_Table
Details of Balance Sheet (Tables) | 12 Months Ended | ||||||||
Oct. 31, 2013 | |||||||||
Text Block [Abstract] | ' | ||||||||
Details of Balance Sheet | ' | ||||||||
Details of balance sheet | |||||||||
2013 | 2012 | ||||||||
Receivables: | |||||||||
Accounts | $ | 292,469 | $ | 308,604 | |||||
Notes | 9,467 | 13,797 | |||||||
Other | 11,036 | 5,938 | |||||||
312,972 | 328,339 | ||||||||
Allowance for doubtful accounts | (4,265 | ) | (3,776 | ) | |||||
$ | 308,707 | $ | 324,563 | ||||||
Inventories: | |||||||||
Raw materials and component parts | $ | 81,943 | $ | 71,189 | |||||
Work-in-process | 34,756 | 22,159 | |||||||
Finished goods | 115,078 | 103,552 | |||||||
231,777 | 196,900 | ||||||||
Obsolescence and other reserves | (26,579 | ) | (20,505 | ) | |||||
LIFO reserve | (6,797 | ) | (6,810 | ) | |||||
$ | 198,401 | $ | 169,585 | ||||||
Property, plant and equipment: | |||||||||
Land | $ | 10,383 | $ | 8,533 | |||||
Land improvements | 3,849 | 3,424 | |||||||
Buildings | 127,178 | 125,338 | |||||||
Machinery and equipment | 294,374 | 257,229 | |||||||
Enterprise management system | 43,983 | 43,335 | |||||||
Construction-in-progress | 21,251 | 10,110 | |||||||
Leased property under capitalized leases | 26,838 | 23,842 | |||||||
527,856 | 471,811 | ||||||||
Accumulated depreciation and amortization | (326,877 | ) | (296,880 | ) | |||||
$ | 200,979 | $ | 174,931 | ||||||
Accrued liabilities: | |||||||||
Salaries and other compensation | $ | 44,561 | $ | 46,930 | |||||
Pension and retirement | 720 | 1,435 | |||||||
Taxes other than income taxes | 5,570 | 6,192 | |||||||
Other | 59,677 | 62,819 | |||||||
$ | 110,528 | $ | 117,376 | ||||||
Goodwill_and_Intangible_Assets1
Goodwill and Intangible Assets (Tables) | 12 Months Ended | ||||||||||||||||
Oct. 31, 2013 | |||||||||||||||||
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ||||||||||||||||
Summary of Changes in Carrying Amount of Goodwill | ' | ||||||||||||||||
Changes in the carrying amount of goodwill during 2013 by operating segment follow: | |||||||||||||||||
Adhesive | Advanced | Industrial | Total | ||||||||||||||
Dispensing | Technology | Coating | |||||||||||||||
Systems | Systems | Systems | |||||||||||||||
Balance at October 31, 2012 | $ | 284,411 | $ | 505,159 | $ | 23,247 | $ | 812,817 | |||||||||
Acquisitions | 115,103 | 2,301 | — | 117,404 | |||||||||||||
Adjustments | 4,014 | — | 811 | 4,825 | |||||||||||||
Currency effect | 3,741 | 424 | — | 4,165 | |||||||||||||
Balance at October 31, 2013 | $ | 407,269 | $ | 507,884 | $ | 24,058 | $ | 939,211 | |||||||||
Summary of Intangible Assets Subject to Amortization | ' | ||||||||||||||||
Information regarding intangible assets subject to amortization follows: | |||||||||||||||||
October 31, 2013 | |||||||||||||||||
Carrying | Accumulated | Net Book | |||||||||||||||
Amount | Amortization | Value | |||||||||||||||
Customer relationships | $ | 171,489 | $ | 28,872 | $ | 142,617 | |||||||||||
Patent/technology costs | 85,414 | 21,145 | 64,269 | ||||||||||||||
Trade name | 67,865 | 7,856 | 60,009 | ||||||||||||||
Noncompete agreements | 9,965 | 8,091 | 1,874 | ||||||||||||||
Other | 1,400 | 1,096 | 304 | ||||||||||||||
Total | $ | 336,133 | $ | 67,060 | $ | 269,073 | |||||||||||
October 31, 2012 | |||||||||||||||||
Carrying | Accumulated | Net Book | |||||||||||||||
Amount | Amortization | Value | |||||||||||||||
Customer relationships | $ | 126,086 | $ | 18,167 | $ | 107,919 | |||||||||||
Patent/technology costs | 68,892 | 15,678 | 53,214 | ||||||||||||||
Trade name | 65,911 | 3,716 | 62,195 | ||||||||||||||
Noncompete agreements | 9,337 | 5,234 | 4,103 | ||||||||||||||
Other | 1,432 | 972 | 460 | ||||||||||||||
Total | $ | 271,658 | $ | 43,767 | $ | 227,891 | |||||||||||
Estimated Amortization Expense | ' | ||||||||||||||||
Estimated amortization expense for each of the five succeeding years follows: | |||||||||||||||||
Year | Amounts | ||||||||||||||||
2014 | $ | 24,641 | |||||||||||||||
2015 | $ | 23,242 | |||||||||||||||
2016 | $ | 22,324 | |||||||||||||||
2017 | $ | 21,951 | |||||||||||||||
2018 | $ | 21,766 |
Retirement_Pension_and_Other_P1
Retirement, Pension and Other Postretirement Plans (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||||||
Oct. 31, 2013 | |||||||||||||||||||||||||||||||||
Components of Net Periodic Pension Cost [Member] | ' | ||||||||||||||||||||||||||||||||
Reconciliation of the Benefit Obligations, Plan Assets, Accrued Benefit Cost and the Amount Recognized in Financial Statements for Pension Plans | ' | ||||||||||||||||||||||||||||||||
A reconciliation of the benefit obligations, plan assets, accrued benefit cost and the amount recognized in financial statements for pension plans is as follows: | |||||||||||||||||||||||||||||||||
United States | International | ||||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||||||
Change in benefit obligation: | |||||||||||||||||||||||||||||||||
Benefit obligation at beginning of year | $ | 326,792 | $ | 268,949 | $ | 83,433 | $ | 71,361 | |||||||||||||||||||||||||
Service cost | 8,896 | 7,488 | 2,098 | 1,504 | |||||||||||||||||||||||||||||
Interest cost | 12,314 | 12,137 | 2,872 | 3,002 | |||||||||||||||||||||||||||||
Participant contributions | — | — | 132 | 133 | |||||||||||||||||||||||||||||
Plan amendments | 1,667 | (3,199 | ) | — | — | ||||||||||||||||||||||||||||
Addition of plans from business combination | — | 14,935 | — | — | |||||||||||||||||||||||||||||
Foreign currency exchange rate change | — | — | (279 | ) | (2,000 | ) | |||||||||||||||||||||||||||
Actuarial (gain) loss | (40,996 | ) | 36,852 | (54 | ) | 11,934 | |||||||||||||||||||||||||||
Benefits paid | (8,957 | ) | (10,370 | ) | (2,659 | ) | (2,501 | ) | |||||||||||||||||||||||||
Benefit obligation at end of year | $ | 299,716 | $ | 326,792 | $ | 85,543 | $ | 83,433 | |||||||||||||||||||||||||
Change in plan assets: | |||||||||||||||||||||||||||||||||
Beginning fair value of plan assets | $ | 214,128 | $ | 184,701 | $ | 34,217 | $ | 32,167 | |||||||||||||||||||||||||
Actual return on plan assets | 20,951 | 22,088 | 2,102 | 1,283 | |||||||||||||||||||||||||||||
Company contributions | 17,384 | 9,060 | 3,501 | 3,492 | |||||||||||||||||||||||||||||
Participant contributions | — | — | 132 | 133 | |||||||||||||||||||||||||||||
Addition of plans from business combination | — | 8,649 | — | — | |||||||||||||||||||||||||||||
Foreign currency exchange rate change | — | — | (215 | ) | (357 | ) | |||||||||||||||||||||||||||
Benefits paid | (8,957 | ) | (10,370 | ) | (2,659 | ) | (2,501 | ) | |||||||||||||||||||||||||
Ending fair value of plan assets | $ | 243,506 | $ | 214,128 | $ | 37,078 | $ | 34,217 | |||||||||||||||||||||||||
Funded status at end of year | $ | (56,210 | ) | $ | (112,664 | ) | $ | (48,465 | ) | $ | (49,216 | ) | |||||||||||||||||||||
Amounts recognized in financial statements: | |||||||||||||||||||||||||||||||||
Noncurrent asset | $ | — | $ | — | $ | 22 | $ | 144 | |||||||||||||||||||||||||
Accrued benefit liability | (938 | ) | (620 | ) | (5 | ) | (5 | ) | |||||||||||||||||||||||||
Long-term pension and retirement obligations | (55,272 | ) | (112,044 | ) | (48,482 | ) | (49,355 | ) | |||||||||||||||||||||||||
Total amount recognized in financial statements | $ | (56,210 | ) | $ | (112,664 | ) | $ | (48,465 | ) | $ | (49,216 | ) | |||||||||||||||||||||
United States | International | ||||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||||||
Amounts recognized in accumulated other comprehensive (gain) loss: | |||||||||||||||||||||||||||||||||
Net actuarial loss | $ | 93,537 | $ | 154,238 | $ | 24,392 | $ | 26,310 | |||||||||||||||||||||||||
Prior service cost (credit) | 4 | (1,506 | ) | (798 | ) | (1,080 | ) | ||||||||||||||||||||||||||
Accumulated other comprehensive loss | $ | 93,541 | $ | 152,732 | $ | 23,594 | $ | 25,230 | |||||||||||||||||||||||||
Amounts expected to be recognized during next fiscal year: | |||||||||||||||||||||||||||||||||
Amortization of net actuarial loss | $ | 8,260 | $ | 13,943 | $ | 1,531 | $ | 1,418 | |||||||||||||||||||||||||
Amortization of prior service cost (credit) | 237 | 157 | (82 | ) | (96 | ) | |||||||||||||||||||||||||||
Total | $ | 8,497 | $ | 14,100 | $ | 1,449 | $ | 1,322 | |||||||||||||||||||||||||
Summary of Changes in Accumulated Other Comprehensive (Gain) Loss | ' | ||||||||||||||||||||||||||||||||
The following table summarizes the changes in accumulated other comprehensive (gain) loss: | |||||||||||||||||||||||||||||||||
United States | International | ||||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||||||
Balance at beginning of year | $ | 152,732 | $ | 138,962 | $ | 25,230 | $ | 13,736 | |||||||||||||||||||||||||
Net (gain) loss arising during the year | (46,707 | ) | 29,877 | (642 | ) | 12,197 | |||||||||||||||||||||||||||
Prior service cost (credit) arising during the year | 1,668 | (3,199 | ) | — | — | ||||||||||||||||||||||||||||
Net gain (loss) recognized during the year | (13,995 | ) | (11,672 | ) | (1,406 | ) | (564 | ) | |||||||||||||||||||||||||
Prior service (cost) credit recognized during the year | (157 | ) | (342 | ) | 81 | 97 | |||||||||||||||||||||||||||
Settlement loss | — | (894 | ) | — | — | ||||||||||||||||||||||||||||
Exchange rate effect during the year | — | — | 331 | (236 | ) | ||||||||||||||||||||||||||||
Balance at end of year | $ | 93,541 | $ | 152,732 | $ | 23,594 | $ | 25,230 | |||||||||||||||||||||||||
Accumulated Benefit Obligation | ' | ||||||||||||||||||||||||||||||||
Information regarding the accumulated benefit obligation is as follows: | |||||||||||||||||||||||||||||||||
United States | International | ||||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||||||
For all plans: | |||||||||||||||||||||||||||||||||
Accumulated benefit obligation | $ | 291,310 | $ | 316,080 | $ | 67,647 | $ | 65,725 | |||||||||||||||||||||||||
For plans with benefit obligations in excess of plan assets: | |||||||||||||||||||||||||||||||||
Projected benefit obligation | 299,716 | 326,792 | 71,788 | 70,153 | |||||||||||||||||||||||||||||
Accumulated benefit obligation | 291,310 | 316,080 | 59,589 | 58,425 | |||||||||||||||||||||||||||||
Fair value of plan assets | 243,506 | 214,128 | 29,000 | 26,757 | |||||||||||||||||||||||||||||
Defined Benefit Plan Net Periodic Benefit Cost | ' | ||||||||||||||||||||||||||||||||
Net pension benefit costs include the following components: | |||||||||||||||||||||||||||||||||
United States | International | ||||||||||||||||||||||||||||||||
2013 | 2012 | 2011 | 2013 | 2012 | 2011 | ||||||||||||||||||||||||||||
Service cost | $ | 8,896 | $ | 7,488 | $ | 6,058 | $ | 2,098 | $ | 1,504 | $ | 2,097 | |||||||||||||||||||||
Interest cost | 12,314 | 12,137 | 12,008 | 2,872 | 3,002 | 2,973 | |||||||||||||||||||||||||||
Expected return on plan assets | (15,241 | ) | (14,901 | ) | (15,575 | ) | (1,512 | ) | (1,547 | ) | (1,466 | ) | |||||||||||||||||||||
Amortization of prior service cost (credit) | 157 | 342 | 666 | (81 | ) | (97 | ) | 5 | |||||||||||||||||||||||||
Amortization of net actuarial (gain) loss | 13,995 | 11,672 | 7,438 | 1,406 | 564 | 858 | |||||||||||||||||||||||||||
Settlement loss | — | 682 | — | — | — | — | |||||||||||||||||||||||||||
Total benefit cost | $ | 20,121 | $ | 17,420 | $ | 10,595 | $ | 4,783 | $ | 3,426 | $ | 4,467 | |||||||||||||||||||||
Weighted Average Assumptions Representing the Rates Used to Develop the Actuarial Present Value of Projected Benefit Obligation and the Net Periodic Benefit Costs | ' | ||||||||||||||||||||||||||||||||
The weighted average assumptions used in the valuation of pension benefits were as follows: | |||||||||||||||||||||||||||||||||
United States | International | ||||||||||||||||||||||||||||||||
2013 | 2012 | 2011 | 2013 | 2012 | 2011 | ||||||||||||||||||||||||||||
Assumptions used to determine benefit obligations at October 31: | |||||||||||||||||||||||||||||||||
Discount rate | 4.75 | % | 3.85 | % | 4.46 | % | 3.72 | % | 3.52 | % | 4.43 | % | |||||||||||||||||||||
Rate of compensation increase | 3.3 | 3.3 | 3.2 | 3.18 | 3.13 | 3.16 | |||||||||||||||||||||||||||
Assumptions used to determine net benefit costs for the years ended October 31: | |||||||||||||||||||||||||||||||||
Discount rate | 3.85 | 4.46 | 5.21 | 3.52 | 4.43 | 4.17 | |||||||||||||||||||||||||||
Expected return on plan assets | 7.24 | 7.75 | 8.25 | 4.43 | 4.85 | 4.84 | |||||||||||||||||||||||||||
Rate of compensation increase | 3.3 | 3.2 | 3.3 | 3.13 | 3.16 | 3.21 | |||||||||||||||||||||||||||
The Effect of a One Percent Change in the Discount Rate, Expected Return on Assets and Compensation Increase | ' | ||||||||||||||||||||||||||||||||
The effect of a one percent change in the discount rate, expected return on assets and compensation increase is shown in the table below. Bracketed numbers represent decreases in expense and obligation amounts. | |||||||||||||||||||||||||||||||||
United States | International | ||||||||||||||||||||||||||||||||
1% Point | 1% Point | 1% Point | 1% Point | ||||||||||||||||||||||||||||||
Increase | Decrease | Increase | Decrease | ||||||||||||||||||||||||||||||
Discount rate: | |||||||||||||||||||||||||||||||||
Effect on total service and interest cost components | $ | (4,340 | ) | $ | 5,207 | $ | (1,052 | ) | $ | 1,343 | |||||||||||||||||||||||
in 2013 | |||||||||||||||||||||||||||||||||
Effect on pension obligation as of October 31, 2013 | $ | (34,718 | ) | $ | 42,756 | $ | (13,572 | ) | $ | 17,606 | |||||||||||||||||||||||
Expected return on assets: | |||||||||||||||||||||||||||||||||
Effect on total service and interest cost components | $ | (2,019 | ) | $ | 2,019 | $ | (348 | ) | $ | 348 | |||||||||||||||||||||||
in 2013 | |||||||||||||||||||||||||||||||||
Effect on pension obligation as of October 31, 2013 | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||||||
Compensation increase: | |||||||||||||||||||||||||||||||||
Effect on total service and interest cost components | $ | 3,580 | $ | (2,967 | ) | $ | 869 | $ | (726 | ) | |||||||||||||||||||||||
in 2013 | |||||||||||||||||||||||||||||||||
Effect on pension obligation as of October 31, 2013 | $ | 14,832 | $ | (12,619 | ) | $ | 6,039 | $ | (5,300 | ) | |||||||||||||||||||||||
Allocation of Pension Plan Assets | ' | ||||||||||||||||||||||||||||||||
The allocation of pension plan assets as of October 31, 2013 and 2012 is as follows: | |||||||||||||||||||||||||||||||||
United States | International | ||||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||||||
Asset Category | |||||||||||||||||||||||||||||||||
Equity securities | 27 % | 37 % | — % | — % | |||||||||||||||||||||||||||||
Debt securities | 29 | 20 | — | — | |||||||||||||||||||||||||||||
Insurance contracts | — | — | 60 | 56 | |||||||||||||||||||||||||||||
Pooled investment funds | 43 | 42 | 39 | 43 | |||||||||||||||||||||||||||||
Other | 1 | 1 | 1 | 1 | |||||||||||||||||||||||||||||
Total | 100 % | 100 % | 100 % | 100 % | |||||||||||||||||||||||||||||
Fair Values of Pension Plan Assets | ' | ||||||||||||||||||||||||||||||||
The fair values of our pension plan assets at October 31, 2013 by asset category are in the table below: | |||||||||||||||||||||||||||||||||
United States | International | ||||||||||||||||||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | Total | Level 1 | Level 2 | Level 3 | ||||||||||||||||||||||||||
Cash | $ | 2,811 | $ | 2,811 | $ | — | $ | — | $ | 321 | $ | 321 | $ | — | $ | — | |||||||||||||||||
Money market funds | 2,783 | 2,783 | — | — | — | — | — | — | |||||||||||||||||||||||||
Equity securities: | |||||||||||||||||||||||||||||||||
Basic materials | 3,834 | 3,834 | — | — | — | — | — | — | |||||||||||||||||||||||||
Consumer goods | 4,958 | 4,958 | — | — | — | — | — | — | |||||||||||||||||||||||||
Financial | 7,825 | 7,825 | — | — | — | — | — | — | |||||||||||||||||||||||||
Healthcare | 4,109 | 4,109 | — | — | — | — | — | — | |||||||||||||||||||||||||
Industrial goods | 3,255 | 3,255 | — | — | — | — | — | — | |||||||||||||||||||||||||
Technology | 4,159 | 4,159 | — | — | — | — | — | — | |||||||||||||||||||||||||
Utilities | 988 | 988 | — | — | — | — | — | — | |||||||||||||||||||||||||
Mutual funds | 32,617 | 32,617 | — | — | — | — | — | — | |||||||||||||||||||||||||
Fixed income securities: | |||||||||||||||||||||||||||||||||
U.S. Government | 26,892 | 10,715 | 16,177 | — | — | — | — | — | |||||||||||||||||||||||||
Corporate | 43,367 | — | 43,367 | — | — | — | — | — | |||||||||||||||||||||||||
Other | 1,356 | — | 1,356 | — | — | — | — | — | |||||||||||||||||||||||||
Other types of investments: | |||||||||||||||||||||||||||||||||
Insurance contracts | — | — | — | — | 22,093 | — | — | 22,093 | |||||||||||||||||||||||||
Real estate collective funds | 14,958 | — | — | 14,958 | — | — | — | — | |||||||||||||||||||||||||
Pooled investment funds | 88,973 | — | 88,973 | — | 14,664 | — | 14,664 | — | |||||||||||||||||||||||||
Other | 621 | 621 | — | — | — | — | — | — | |||||||||||||||||||||||||
$ | 243,506 | $ | 78,675 | $ | 149,873 | $ | 14,958 | $ | 37,078 | $ | 321 | $ | 14,664 | $ | 22,093 | ||||||||||||||||||
The fair values of our pension plan assets at October 31, 2012 by asset category are in the table below: | |||||||||||||||||||||||||||||||||
United States | International | ||||||||||||||||||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | Total | Level 1 | Level 2 | Level 3 | ||||||||||||||||||||||||||
Cash | $ | 1,346 | $ | 1,346 | $ | — | $ | — | $ | 323 | $ | 323 | $ | — | $ | — | |||||||||||||||||
Money market funds | 2,114 | 2,114 | — | — | — | — | — | — | |||||||||||||||||||||||||
Equity securities: | |||||||||||||||||||||||||||||||||
Basic materials | 5,849 | 5,849 | — | — | — | — | — | — | |||||||||||||||||||||||||
Consumer goods | 7,359 | 7,359 | — | — | — | — | — | — | |||||||||||||||||||||||||
Financial | 9,190 | 9,190 | — | — | — | — | — | — | |||||||||||||||||||||||||
Healthcare | 4,891 | 4,891 | — | — | — | — | — | — | |||||||||||||||||||||||||
Industrial goods | 3,174 | 3,174 | — | — | — | — | — | — | |||||||||||||||||||||||||
Technology | 4,581 | 4,581 | — | — | — | — | — | — | |||||||||||||||||||||||||
Utilities | 1,491 | 1,491 | — | — | — | — | — | — | |||||||||||||||||||||||||
Mutual funds | 39,900 | 39,900 | — | — | — | — | — | — | |||||||||||||||||||||||||
Fixed income securities: | |||||||||||||||||||||||||||||||||
U.S. Government | 17,697 | 1,784 | 15,913 | — | — | — | — | — | |||||||||||||||||||||||||
Corporate | 24,865 | — | 24,865 | — | — | — | — | — | |||||||||||||||||||||||||
Other | 593 | — | 593 | — | — | — | — | — | |||||||||||||||||||||||||
Other types of investments: | |||||||||||||||||||||||||||||||||
Insurance contracts | — | — | — | — | 19,046 | — | — | 19,046 | |||||||||||||||||||||||||
Real estate collective funds | 13,110 | — | — | 13,110 | — | — | — | — | |||||||||||||||||||||||||
Pooled investment funds | 77,220 | — | 77,220 | — | 14,848 | — | 14,848 | — | |||||||||||||||||||||||||
Other | 748 | 748 | — | — | — | — | — | — | |||||||||||||||||||||||||
$ | 214,128 | $ | 82,427 | $ | 118,591 | $ | 13,110 | $ | 34,217 | $ | 323 | $ | 14,848 | $ | 19,046 | ||||||||||||||||||
Change in Level 3 Fair Value of Plan Assets | ' | ||||||||||||||||||||||||||||||||
The following tables present an analysis of changes during the years ended October 31, 2013 and 2012 in Level 3 plan assets, by plan asset class, for U.S. and International pension plans using significant unobservable inputs to measure fair value: | |||||||||||||||||||||||||||||||||
Fair Value Measurements Using Significant | |||||||||||||||||||||||||||||||||
Unobservable Inputs (Level 3) | |||||||||||||||||||||||||||||||||
Real estate | Insurance | Total | |||||||||||||||||||||||||||||||
collective funds | contracts | ||||||||||||||||||||||||||||||||
Beginning balance at October 31, 2012 | $ | 13,110 | $ | 19,046 | $ | 32,156 | |||||||||||||||||||||||||||
Actual return on plan assets: | |||||||||||||||||||||||||||||||||
Assets held, end of year | 1,970 | 1,025 | 2,995 | ||||||||||||||||||||||||||||||
Assets sold during the period | 13 | — | 13 | ||||||||||||||||||||||||||||||
Purchases | — | 4,242 | 4,242 | ||||||||||||||||||||||||||||||
Sales | (135 | ) | (2,093 | ) | (2,228 | ) | |||||||||||||||||||||||||||
Foreign currency translation | — | (127 | ) | (127 | ) | ||||||||||||||||||||||||||||
Ending balance at October 31, 2013 | $ | 14,958 | $ | 22,093 | $ | 37,051 | |||||||||||||||||||||||||||
Fair Value Measurements Using Significant | |||||||||||||||||||||||||||||||||
Unobservable Inputs (Level 3) | |||||||||||||||||||||||||||||||||
Real estate | Insurance | Total | |||||||||||||||||||||||||||||||
collective funds | contracts | ||||||||||||||||||||||||||||||||
Beginning balance at October 31, 2011 | $ | — | $ | 18,501 | $ | 18,501 | |||||||||||||||||||||||||||
Actual return on plan assets: | |||||||||||||||||||||||||||||||||
Assets held, end of year | 1,169 | 780 | 1,949 | ||||||||||||||||||||||||||||||
Assets sold during the period | 2 | — | 2 | ||||||||||||||||||||||||||||||
Purchases | 12,000 | 2,311 | 14,311 | ||||||||||||||||||||||||||||||
Sales | (61 | ) | (2,122 | ) | (2,183 | ) | |||||||||||||||||||||||||||
Foreign currency translation | — | (424 | ) | (424 | ) | ||||||||||||||||||||||||||||
Ending balance at October 31, 2012 | $ | 13,110 | $ | 19,046 | $ | 32,156 | |||||||||||||||||||||||||||
Retiree Pension Benefit Payments | ' | ||||||||||||||||||||||||||||||||
Retiree pension benefit payments, which reflect expected future service, are anticipated to be paid as follows: | |||||||||||||||||||||||||||||||||
Year | United States | International | |||||||||||||||||||||||||||||||
2014 | $ | 10,905 | $ | 3,659 | |||||||||||||||||||||||||||||
2015 | 11,888 | 2,539 | |||||||||||||||||||||||||||||||
2016 | 12,885 | 2,159 | |||||||||||||||||||||||||||||||
2017 | 14,131 | 1,998 | |||||||||||||||||||||||||||||||
2018 | 15,228 | 2,857 | |||||||||||||||||||||||||||||||
2019-2023 | 93,560 | 18,777 | |||||||||||||||||||||||||||||||
Components of Net Postretirement Benefit Cost [Member] | ' | ||||||||||||||||||||||||||||||||
Reconciliation of the Benefit Obligations, Plan Assets, Accrued Benefit Cost and the Amount Recognized in Financial Statements for Pension Plans | ' | ||||||||||||||||||||||||||||||||
A reconciliation of the benefit obligations, accrued benefit cost and the amount recognized in financial statements for other postretirement plans is as follows: | |||||||||||||||||||||||||||||||||
United States | International | ||||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||||||
Change in benefit obligation: | |||||||||||||||||||||||||||||||||
Benefit obligation at beginning of year | $ | 71,228 | $ | 73,392 | $ | 851 | $ | 678 | |||||||||||||||||||||||||
Service cost | 1,145 | 1,183 | 35 | 28 | |||||||||||||||||||||||||||||
Interest cost | 2,598 | 2,759 | 38 | 41 | |||||||||||||||||||||||||||||
Participant contributions | 600 | 1,393 | — | — | |||||||||||||||||||||||||||||
Plan amendment | — | (202 | ) | — | — | ||||||||||||||||||||||||||||
Foreign currency exchange rate change | — | — | (34 | ) | 1 | ||||||||||||||||||||||||||||
Actuarial (gain) loss | (11,619 | ) | (4,315 | ) | (118 | ) | 107 | ||||||||||||||||||||||||||
Benefits paid | (2,948 | ) | (2,982 | ) | (4 | ) | (4 | ) | |||||||||||||||||||||||||
Benefit obligation at end of year | $ | 61,004 | $ | 71,228 | $ | 768 | $ | 851 | |||||||||||||||||||||||||
Change in plan assets: | |||||||||||||||||||||||||||||||||
Beginning fair value of plan assets | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||||||
Company contributions | 2,348 | 1,589 | 4 | 4 | |||||||||||||||||||||||||||||
Participant contributions | 600 | 1,393 | — | — | |||||||||||||||||||||||||||||
Benefits paid | (2,948 | ) | (2,982 | ) | (4 | ) | (4 | ) | |||||||||||||||||||||||||
Ending fair value of plan assets | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||||||
Funded status at end of year | $ | (61,004 | ) | $ | (71,228 | ) | $ | (768 | ) | $ | (851 | ) | |||||||||||||||||||||
Amounts recognized in financial statements: | |||||||||||||||||||||||||||||||||
Accrued benefit liability | $ | (1,974 | ) | $ | (2,224 | ) | $ | (4 | ) | $ | (4 | ) | |||||||||||||||||||||
Long-term postretirement obligations | (59,030 | ) | (69,004 | ) | (764 | ) | (847 | ) | |||||||||||||||||||||||||
Total amount recognized in financial statements | $ | (61,004 | ) | $ | (71,228 | ) | $ | (768 | ) | $ | (851 | ) | |||||||||||||||||||||
United States | International | ||||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||||||
Amounts recognized in accumulated other comprehensive (gain) loss: | |||||||||||||||||||||||||||||||||
Net actuarial (gain) loss | $ | 17,854 | $ | 31,585 | $ | (243 | ) | $ | (138 | ) | |||||||||||||||||||||||
Prior service cost (credit) | (1,461 | ) | (1,934 | ) | — | — | |||||||||||||||||||||||||||
Accumulated other comprehensive (gain) loss | $ | 16,393 | $ | 29,651 | $ | (243 | ) | $ | (138 | ) | |||||||||||||||||||||||
Amounts expected to be recognized during next fiscal year: | |||||||||||||||||||||||||||||||||
Amortization of net actuarial (gain) loss | $ | 1,139 | $ | 2,214 | $ | (14 | ) | $ | (4 | ) | |||||||||||||||||||||||
Amortization of prior service cost (credit) | (449 | ) | (1,758 | ) | — | — | |||||||||||||||||||||||||||
Total | $ | 690 | $ | 456 | $ | (14 | ) | $ | (4 | ) | |||||||||||||||||||||||
Defined Benefit Plan Net Periodic Benefit Cost | ' | ||||||||||||||||||||||||||||||||
Net postretirement benefit costs include the following components: | |||||||||||||||||||||||||||||||||
United States | International | ||||||||||||||||||||||||||||||||
2013 | 2012 | 2011 | 2013 | 2012 | 2011 | ||||||||||||||||||||||||||||
Service cost | $ | 1,145 | $ | 1,183 | $ | 1,122 | $ | 35 | $ | 28 | $ | 31 | |||||||||||||||||||||
Interest cost | 2,598 | 2,759 | 2,932 | 38 | 41 | 41 | |||||||||||||||||||||||||||
Amortization of prior service cost (credit) | (473 | ) | (584 | ) | (1,147 | ) | — | — | — | ||||||||||||||||||||||||
Amortization of net actuarial (gain) loss | 2,112 | 1,789 | 1,606 | (4 | ) | (14 | ) | (8 | ) | ||||||||||||||||||||||||
Total benefit cost | $ | 5,382 | $ | 5,147 | $ | 4,513 | $ | 69 | $ | 55 | $ | 64 | |||||||||||||||||||||
Weighted Average Assumptions Representing the Rates Used to Develop the Actuarial Present Value of Projected Benefit Obligation and the Net Periodic Benefit Costs | ' | ||||||||||||||||||||||||||||||||
The weighted average assumptions used in the valuation of postretirement benefits were as follows: | |||||||||||||||||||||||||||||||||
United States | International | ||||||||||||||||||||||||||||||||
2013 | 2012 | 2011 | 2013 | 2012 | 2011 | ||||||||||||||||||||||||||||
Assumptions used to determine benefit obligations at October 31: | |||||||||||||||||||||||||||||||||
Discount rate | 4.8 | % | 3.85 | % | 4.5 | % | 4.95 | % | 4.4 | % | 5.85 | % | |||||||||||||||||||||
Health care cost trend rate | 4.12 | 4.9 | 9.36 | 6.65 | 6.83 | 7 | |||||||||||||||||||||||||||
Rate to which health care cost trend rate is assumed to decline (ultimate trend rate) | 3.47 | 3.6 | 5 | 3.5 | 3.5 | 3.5 | |||||||||||||||||||||||||||
Year the rate reaches the ultimate trend rate | 2021 | 2017 | 2016 | 2031 | 2031 | 2031 | |||||||||||||||||||||||||||
Assumption used to determine net benefit costs for the years ended October 31: | |||||||||||||||||||||||||||||||||
Discount rate | 3.85 | % | 4.5 | % | 5.25 | % | 4.4 | % | 5.85 | % | 5.75 | % | |||||||||||||||||||||
Summary of Changes in Accumulated Other Comprehensive (Gain) Loss | ' | ||||||||||||||||||||||||||||||||
The following table summarizes the changes in accumulated other comprehensive (gain) loss: | |||||||||||||||||||||||||||||||||
United States | International | ||||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||||||
Balance at beginning of year | $ | 29,651 | $ | 35,374 | $ | (138 | ) | $ | (260 | ) | |||||||||||||||||||||||
Net (gain) loss arising during the year | (11,619 | ) | (4,315 | ) | (117 | ) | 108 | ||||||||||||||||||||||||||
Prior service cost (credit) arising during the year | — | (202 | ) | — | — | ||||||||||||||||||||||||||||
Net gain (loss) recognized during the year | (2,112 | ) | (1,790 | ) | 4 | 14 | |||||||||||||||||||||||||||
Prior service credit (cost) recognized during the year | 473 | 584 | — | — | |||||||||||||||||||||||||||||
Exchange rate effect during the year | — | — | 8 | — | |||||||||||||||||||||||||||||
Balance at end of year | $ | 16,393 | $ | 29,651 | $ | (243 | ) | $ | (138 | ) | |||||||||||||||||||||||
Defined Benefit Plan Effect of One Percentage Point Change in Assumed Health Care Cost Trend Rates and Discount Rate | ' | ||||||||||||||||||||||||||||||||
The discount rate and the health care cost trend rate assumptions have a significant effect on the amounts reported. For example, a one-percentage point change in the discount rate and the assumed health care cost trend rate would have the following effects: | |||||||||||||||||||||||||||||||||
United States | International | ||||||||||||||||||||||||||||||||
1% Point | 1% Point | 1% Point | 1% Point | ||||||||||||||||||||||||||||||
Increase | Decrease | Increase | Decrease | ||||||||||||||||||||||||||||||
Discount rate: | |||||||||||||||||||||||||||||||||
Effect on total service and interest cost components in 2013 | $ | (758 | ) | $ | 911 | $ | (20 | ) | $ | 11 | |||||||||||||||||||||||
Effect on postretirement obligation as of October 31, 2013 | $ | (7,945 | ) | $ | 9,886 | $ | (138 | ) | $ | 181 | |||||||||||||||||||||||
Health care trend rate: | |||||||||||||||||||||||||||||||||
Effect on total service and interest cost components in 2013 | $ | 630 | $ | (508 | ) | $ | 17 | $ | (13 | ) | |||||||||||||||||||||||
Effect on postretirement obligation as of October 31, 2013 | $ | 8,907 | $ | (7,286 | ) | $ | 172 | $ | (135 | ) | |||||||||||||||||||||||
Retiree Pension Benefit Payments | ' | ||||||||||||||||||||||||||||||||
Retiree postretirement benefit payments are anticipated to be paid as follows: | |||||||||||||||||||||||||||||||||
Year | United States | International | |||||||||||||||||||||||||||||||
2014 | $ | 1,974 | $ | 4 | |||||||||||||||||||||||||||||
2015 | 2,254 | 11 | |||||||||||||||||||||||||||||||
2016 | 2,490 | 12 | |||||||||||||||||||||||||||||||
2017 | 2,747 | 13 | |||||||||||||||||||||||||||||||
2018 | 2,965 | 16 | |||||||||||||||||||||||||||||||
2019-2023 | 17,767 | 117 |
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | ||||||||||||
Oct. 31, 2013 | |||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||
Income Tax Expense | ' | ||||||||||||
Income tax expense includes the following: | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Current: | |||||||||||||
U.S. federal | $ | 45,004 | $ | 51,458 | $ | 53,983 | |||||||
State and local | 2,351 | 1,378 | 2,029 | ||||||||||
Foreign | 36,829 | 38,760 | 35,469 | ||||||||||
Total current | 84,184 | 91,596 | 91,481 | ||||||||||
Deferred: | |||||||||||||
U.S. federal | 8,361 | 7,204 | 1,851 | ||||||||||
State and local | (991 | ) | 782 | 23 | |||||||||
Foreign | (2,248 | ) | 1,842 | (1,158 | ) | ||||||||
Total deferred | 5,122 | 9,828 | 716 | ||||||||||
$ | 89,306 | $ | 101,424 | $ | 92,197 | ||||||||
Income Taxes Computed at the U.S. Statutory Rate and Income Tax | ' | ||||||||||||
A reconciliation of the U.S. statutory federal rate to the worldwide consolidated effective tax rate follows: | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Statutory federal income tax rate | 35 | % | 35 | % | 35 | % | |||||||
Domestic Production Deduction | (1.71 | ) | (1.82 | ) | (1.76 | ) | |||||||
Foreign tax rate variances, net of foreign tax credits | (3.39 | ) | (2.31 | ) | (2.51 | ) | |||||||
State and local taxes, net of federal income tax benefit | 0.28 | 0.43 | 0.42 | ||||||||||
Amounts related to prior years | (1.00 | ) | (0.31 | ) | (1.31 | ) | |||||||
Other — net | (0.48 | ) | 0.1 | (0.53 | ) | ||||||||
Effective tax rate | 28.7 | % | 31.09 | % | 29.31 | % | |||||||
Unrecognized Tax Benefits | ' | ||||||||||||
A reconciliation of the beginning and ending amount of unrecognized tax benefits for 2013, 2012 and 2011 is as follows: | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Balance at beginning of year | $ | 3,140 | $ | 2,576 | $ | 4,078 | |||||||
Additions based on tax positions related to the current year | 703 | 148 | 387 | ||||||||||
Additions for tax positions of prior years | 3,261 | 896 | 138 | ||||||||||
Reductions for tax positions of prior years | (317 | ) | — | — | |||||||||
Settlements | — | 0 | (2,027 | ) | |||||||||
Lapse of statute of limitations | (1,070 | ) | (480 | ) | — | ||||||||
Balance at end of year | $ | 5,717 | $ | 3,140 | $ | 2,576 | |||||||
Significant Components of Deferred Tax Assets and Liabilities | ' | ||||||||||||
Significant components of deferred tax assets and liabilities are as follows: | |||||||||||||
2013 | 2012 | ||||||||||||
Deferred tax assets: | |||||||||||||
Employee benefits | $ | 66,148 | $ | 90,707 | |||||||||
Other accruals not currently deductible for taxes | 16,984 | 16,105 | |||||||||||
Tax credit and loss carryforwards | 13,077 | 17,145 | |||||||||||
Inventory adjustments | 4,998 | 5,278 | |||||||||||
Translation of foreign currency accounts | 384 | 929 | |||||||||||
Total deferred tax assets | 101,591 | 130,164 | |||||||||||
Valuation allowance | (5,663 | ) | (5,046 | ) | |||||||||
Total deferred tax assets | 95,928 | 125,118 | |||||||||||
Deferred tax liabilities: | |||||||||||||
Depreciation and amortization | 146,500 | 121,348 | |||||||||||
Other — net | 51 | — | |||||||||||
Total deferred tax liabilities | 146,551 | 121,348 | |||||||||||
Net deferred tax assets (liabilities) | $ | (50,623 | ) | $ | 3,770 | ||||||||
Notes_Payable_Tables
Notes Payable (Tables) | 12 Months Ended | ||||||||
Oct. 31, 2013 | |||||||||
Debt Disclosure [Abstract] | ' | ||||||||
Bank Lines of Credit and Notes | ' | ||||||||
Bank lines of credit and notes payable are summarized as follows: | |||||||||
2013 | 2012 | ||||||||
Maximum borrowings under bank lines of credit: | |||||||||
Domestic banks | $ | — | $ | 50,000 | |||||
Foreign banks | 83,191 | 40,260 | |||||||
Total | $ | 83,191 | $ | 90,260 | |||||
Outstanding notes payable: | |||||||||
Domestic bank debt | $ | — | $ | 50,000 | |||||
Foreign bank debt | 3,604 | 1 | |||||||
Total | $ | 3,604 | $ | 50,001 | |||||
Weighted-average interest rate on notes payable | 2 | % | 1.1 | % | |||||
Unused bank lines of credit | $ | 79,587 | $ | 40,259 | |||||
Longterm_Debt_Tables
Long-term Debt (Tables) | 12 Months Ended | ||||||||
Oct. 31, 2013 | |||||||||
Debt Disclosure [Abstract] | ' | ||||||||
Long-term Debt | ' | ||||||||
A summary of long-term debt is as follows: | |||||||||
2013 | 2012 | ||||||||
Revolving credit agreement, due 2017 | $ | 254,000 | $ | 262,450 | |||||
Senior notes, due 2017-2025 | 200,000 | 200,000 | |||||||
Euro loan, due 2016 | 129,058 | — | |||||||
Private shelf facility, due 2012-2020 | 63,889 | 69,445 | |||||||
Senior note, due 2013 | — | 50,000 | |||||||
Development loans, due 2011-2026 | 1,702 | 1,814 | |||||||
Other | 341 | — | |||||||
648,990 | 583,709 | ||||||||
Less current maturities | 10,832 | 55,668 | |||||||
Long-term maturities | $ | 638,158 | $ | 528,041 | |||||
Leases_Tables
Leases (Tables) | 12 Months Ended | ||||||||
Oct. 31, 2013 | |||||||||
Leases [Abstract] | ' | ||||||||
Assets Held Under Capitalized Leases and Included in Property, Plant and Equipment | ' | ||||||||
Assets held under capitalized leases and included in property, plant and equipment are as follows: | |||||||||
2013 | 2012 | ||||||||
Transportation equipment | $ | 16,261 | $ | 15,697 | |||||
Other | 10,577 | 8,145 | |||||||
Total capitalized leases | 26,838 | 23,842 | |||||||
Accumulated amortization | (10,805 | ) | (7,614 | ) | |||||
Net capitalized leases | $ | 16,033 | $ | 16,228 | |||||
Future Minimum Lease Payments Under Noncancelable Capitalized and Operating Leases | ' | ||||||||
future minimum lease payments under noncancelable capitalized and operating leases are as follows: | |||||||||
Capitalized | Operating | ||||||||
Leases | Leases | ||||||||
Year: | |||||||||
2014 | $ | 7,298 | $ | 12,321 | |||||
2015 | 4,819 | 7,506 | |||||||
2016 | 2,446 | 5,478 | |||||||
2017 | 667 | 4,527 | |||||||
2018 | 403 | 3,292 | |||||||
Later years | 4,806 | 10,289 | |||||||
Total minimum lease payments | 20,439 | $ | 43,413 | ||||||
Less amount representing executory costs | 3,114 | ||||||||
Net minimum lease payments | 17,325 | ||||||||
Less amount representing interest | 1,692 | ||||||||
Present value of net minimum lease payments | 15,633 | ||||||||
Less current portion | 5,521 | ||||||||
Long-term obligations at October 31, 2013 | $ | 10,112 | |||||||
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 12 Months Ended | ||||||||||||||||
Oct. 31, 2013 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis | ' | ||||||||||||||||
The following table presents the classification of our assets and liabilities measured at fair value on a recurring basis at October 31, 2013: | |||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | ||||||||||||||
Assets: | |||||||||||||||||
Rabbi trust(a) | $ | 13,611 | $ | — | $ | 13,611 | $ | — | |||||||||
Foreign currency forward contracts(b) | 3,493 | — | 3,493 | — | |||||||||||||
Total assets at fair value | $ | 17,104 | $ | — | $ | 17,104 | $ | — | |||||||||
Liabilities: | |||||||||||||||||
Deferred compensation plans(c) | $ | 7,322 | $ | 7,322 | $ | — | $ | — | |||||||||
Foreign currency forward contracts(b) | 1,180 | — | 1,180 | — | |||||||||||||
Total liabilities at fair value | $ | 8,502 | $ | 7,322 | $ | 1,180 | $ | — | |||||||||
(a) | We maintain a rabbi trust that serves as an investment to shadow our deferred compensation plan liability. The investment assets of the trust consist of life insurance policies for which we recognize income or expense based upon changes in cash surrender value. | ||||||||||||||||
(b) | We enter into foreign currency forward contracts to reduce the risk of foreign currency exposures resulting from receivables, payables, intercompany receivables, intercompany payables and loans denominated in foreign currencies. Foreign exchange contracts are valued using market exchange rates. These foreign exchange contracts are not designated as hedges. | ||||||||||||||||
(c) | Executive officers and other highly compensated employees may defer up to 100 percent of their salary and annual cash incentive compensation and for executive officers, up to 90 percent of their long-term incentive compensation, into various non-qualified deferred compensation plans. Deferrals can be allocated to various market performance measurement funds. Changes in the value of compensation deferred under these plans are recognized each period based on the fair value of the underlying measurement funds. |
Financial_Instruments_Tables
Financial Instruments (Tables) | 12 Months Ended | ||||||||||||||||
Oct. 31, 2013 | |||||||||||||||||
Investments All Other Investments [Abstract] | ' | ||||||||||||||||
Outstanding Currency, Forward Exchange Contracts | ' | ||||||||||||||||
The following table summarizes, by currency, forward exchange contracts outstanding at October 31, 2013 and 2012: | |||||||||||||||||
Sell | Buy | ||||||||||||||||
Notional | Fair Market | Notional | Fair Market | ||||||||||||||
Amounts | Value | Amounts | Value | ||||||||||||||
October 31, 2013 contract amounts: | |||||||||||||||||
Euro | $ | 194,531 | $ | 194,187 | $ | 131,198 | $ | 131,825 | |||||||||
Pound sterling | 17,854 | 17,856 | 29,441 | 29,950 | |||||||||||||
Japanese yen | 11,426 | 11,404 | 8,686 | 8,672 | |||||||||||||
Australian dollar | 894 | 899 | 8,653 | 8,986 | |||||||||||||
Hong Kong dollar | 1,935 | 1,935 | 42,140 | 42,132 | |||||||||||||
Singapore dollar | 201 | 201 | 9,815 | 10,065 | |||||||||||||
Others | 5,768 | 5,745 | 24,227 | 24,503 | |||||||||||||
Total | $ | 232,609 | $ | 232,227 | $ | 254,160 | $ | 256,133 | |||||||||
October 31, 2012 contract amounts: | |||||||||||||||||
Euro | $ | 3,186 | $ | 3,220 | $ | 95,370 | $ | 95,769 | |||||||||
Pound sterling | — | — | 28,771 | 28,959 | |||||||||||||
Japanese yen | 5,810 | 5,766 | 15,643 | 15,465 | |||||||||||||
Australian dollar | 515 | 519 | 9,131 | 9,156 | |||||||||||||
Singapore dollar | — | — | 8,626 | 8,681 | |||||||||||||
Others | 4,758 | 4,725 | 19,686 | 19,829 | |||||||||||||
Total | $ | 14,269 | $ | 14,230 | $ | 177,227 | $ | 177,859 | |||||||||
Carrying Amounts and Fair Values of Financial Instruments, Other than Receivables and Accounts Payable | ' | ||||||||||||||||
The carrying amounts and fair values of financial instruments, other than receivables and accounts payable, are shown in the table below. The carrying values of receivables and accounts payable approximate fair value due to the short-term nature of these instruments. | |||||||||||||||||
2013 | 2012 | ||||||||||||||||
Carrying | Fair | Carrying | Fair | ||||||||||||||
Amount | Value | Amount | Value | ||||||||||||||
Cash and cash equivalents | $ | 42,375 | $ | 42,375 | $ | 41,239 | $ | 41,239 | |||||||||
Marketable securities | — | — | 279 | 279 | |||||||||||||
Notes payable | 3,604 | 3,604 | 50,001 | 50,001 | |||||||||||||
Long-term debt (including current portion) | 648,990 | 636,904 | 583,709 | 584,624 | |||||||||||||
Foreign currency forward contracts (net) | 2,313 | 2,313 | 671 | 671 |
Capital_Shares_Tables
Capital Shares (Tables) | 12 Months Ended | ||||||||||||
Oct. 31, 2013 | |||||||||||||
Equity [Abstract] | ' | ||||||||||||
Capital shares | ' | ||||||||||||
Common shares repurchased as part of publicly announced programs during 2013, 2012 and 2011 were as follows: | |||||||||||||
Year | Number of | Total | Average | ||||||||||
Shares | Amount | per Share | |||||||||||
2013 | 459 | $ | 30,443 | $ | 66.29 | ||||||||
2012 | 1,831 | $ | 86,022 | $ | 46.98 | ||||||||
2011 | 3,024 | $ | 134,163 | $ | 44.37 |
StockBased_Compensation_Tables
Stock-Based Compensation (Tables) | 12 Months Ended | ||||||||||||||||
Oct. 31, 2013 | |||||||||||||||||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ||||||||||||||||
Summarized Activity Related to Stock Options | ' | ||||||||||||||||
Following is a summary of stock options for 2013: | |||||||||||||||||
Number of | Weighted-Average | Aggregate | Weighted- | ||||||||||||||
Options | Exercise Price Per | Intrinsic | Average | ||||||||||||||
Share | Value | Remaining | |||||||||||||||
Term | |||||||||||||||||
Outstanding at October 31, 2012 | 1,764 | $ | 28.35 | ||||||||||||||
Granted | 283 | $ | 61.61 | ||||||||||||||
Exercised | (283 | ) | $ | 21.72 | |||||||||||||
Forfeited or expired | (15 | ) | $ | 48.38 | |||||||||||||
Outstanding at October 31, 2013 | 1,749 | $ | 34.63 | $ | 65,492 | 6.1 years | |||||||||||
Vested at October 31, 2013 or expected to vest | 1,699 | $ | 34.22 | $ | 64,348 | 6.1 years | |||||||||||
Exercisable at October 31, 2013 | 942 | $ | 25.07 | $ | 44,276 | 4.7 years | |||||||||||
Summarized Information on Currently Outstanding Options | ' | ||||||||||||||||
Summarized information on currently outstanding options follows: | |||||||||||||||||
Range of Exercise Price | |||||||||||||||||
$14 - $20 | $21 - $31 | $32 - $63 | |||||||||||||||
Number outstanding | 452 | 500 | 797 | ||||||||||||||
Weighted-average remaining contractual life, in years | 3.8 | 5 | 8.1 | ||||||||||||||
Weighted-average exercise price | $ | 16.15 | $ | 27.15 | $ | 49.82 | |||||||||||
Number exercisable | 401 | 391 | 150 | ||||||||||||||
Weighted-average exercise price | $ | 16.37 | $ | 26.96 | $ | 43.47 | |||||||||||
Fair Value Assumptions of Stock Options | ' | ||||||||||||||||
The fair value of each option grant was estimated at the date of grant using the Black-Scholes option-pricing model with the following assumptions: | |||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||
Expected volatility | 45.3%-46.9% | 45.4%-46.9% | 43.1%-45.1% | ||||||||||||||
Expected dividend yield | 0.97%-1.01% | 1.20% | 1.28% | ||||||||||||||
Risk-free interest rate | 0.75%-0.90% | 1.03%-1.23% | 1.89%-2.25% | ||||||||||||||
Expected life of the option (in years) | 5.4-6.1 | 5.4-6.1 | 5.4-6.3 | ||||||||||||||
Summarized Activity Related to Restricted Stock | ' | ||||||||||||||||
The following table summarizes 2013 activity related to restricted stock: | |||||||||||||||||
Number of | Weighted-Average | ||||||||||||||||
Shares | Grant Date Fair | ||||||||||||||||
Value Per Share | |||||||||||||||||
Restricted at October 31, 2012 | 100 | $ | 40.58 | ||||||||||||||
Granted | 36 | $ | 62.08 | ||||||||||||||
Vested | (51 | ) | $ | 35.85 | |||||||||||||
Forfeited | (3 | ) | $ | 48.18 | |||||||||||||
Restricted at October 31, 2013 | 82 | $ | 52.67 | ||||||||||||||
Summarized Activity Related to Director Deferred Compensation Shares | ' | ||||||||||||||||
The following table summarizes activity related to director deferred compensation share equivalent units during 2013: | |||||||||||||||||
Number of | Weighted-Average | ||||||||||||||||
Shares | Grant Date Fair | ||||||||||||||||
Value Per Share | |||||||||||||||||
Outstanding at October 31, 2012 | 200 | $ | 19.44 | ||||||||||||||
Deferrals | 1 | $ | 69.39 | ||||||||||||||
Restricted stock units vested | 11 | $ | 45.2 | ||||||||||||||
Dividend equivalents | 1 | $ | 68.03 | ||||||||||||||
Distributions | (65 | ) | $ | 17.03 | |||||||||||||
Outstanding at October 31, 2013 | 148 | $ | 23.22 | ||||||||||||||
Operating_Segments_and_Geograp1
Operating Segments and Geographic Area Data (Tables) | 12 Months Ended | ||||||||||||||||||||
Oct. 31, 2013 | |||||||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||||||
Reportable Segments | ' | ||||||||||||||||||||
The following table presents information about our reportable segments: | |||||||||||||||||||||
Adhesive | Advanced | Industrial | Corporate | Total | |||||||||||||||||
Dispensing | Technology | Coating | |||||||||||||||||||
Systems | Systems | Systems | |||||||||||||||||||
Year ended October 31, 2013 | |||||||||||||||||||||
Net external sales | $ | 793,488 | $ | 516,266 | $ | 233,167 | $ | — | $ | 1,542,921 | |||||||||||
Depreciation | 15,638 | 9,180 | 3,370 | 3,578 | 31,766 | ||||||||||||||||
Operating profit | 203,757 | (a) | 123,403 | (b) | 33,786 | (37,097 | ) | 323,849 | |||||||||||||
Identifiable assets (c) | 750,616 | 721,524 | 113,835 | 456,919 | (d) | 2,042,894 | |||||||||||||||
Expenditures for long-lived assets | 20,498 | 10,080 | 6,239 | 10,402 | 47,219 | ||||||||||||||||
Year ended October 31, 2012 | |||||||||||||||||||||
Net external sales | $ | 684,096 | $ | 515,992 | $ | 209,490 | $ | — | $ | 1,409,578 | |||||||||||
Depreciation | 9,532 | 8,695 | 3,141 | 3,101 | 24,469 | ||||||||||||||||
Operating profit (loss) | 211,072 | (a) | 134,074 | 25,933 | (e) | (35,599 | ) | 335,480 | |||||||||||||
Identifiable assets (c) | 611,357 | 718,354 | 110,982 | 395,331 | (d) | 1,836,024 | |||||||||||||||
Expenditures for long-lived assets | 14,612 | 6,871 | 4,602 | 4,874 | 30,959 | ||||||||||||||||
Year ended October 31, 2011 | |||||||||||||||||||||
Net external sales | $ | 611,911 | $ | 437,232 | $ | 184,016 | $ | — | $ | 1,233,159 | |||||||||||
Depreciation | 7,087 | 7,851 | 2,855 | 2,965 | 20,758 | ||||||||||||||||
Operating profit | 210,350 | (a) | 114,660 | 27,220 | (36,687 | )(f) | 315,543 | ||||||||||||||
Identifiable assets (c) | 286,974 | 691,479 | 71,438 | 270,500 | (d) | 1,320,391 | |||||||||||||||
Expenditures for long-lived assets | 4,477 | 4,833 | 2,437 | 8,492 | 20,239 | ||||||||||||||||
(a) | Includes $315 of severance and restructuring costs in 2013. Includes $3,862 of cost of goods sold – restructuring and severance and restructuring costs in 2012. Includes $1,811 of impairment charges related to the write down of assets to fair value and $1,589 of severance charges and other termination fees in 2011. | ||||||||||||||||||||
(b) | Includes $811 of severance and restructuring costs. | ||||||||||||||||||||
(c) | Operating segment identifiable assets include notes and accounts receivable net of customer advance payments and allowance for doubtful accounts, inventories net of reserves, property, plant and equipment net of accumulated depreciation and goodwill. | ||||||||||||||||||||
(d) | Corporate assets are principally cash and cash equivalents, deferred income taxes, capital leases, headquarter facilities, the major portion of our enterprise management system, and intangible assets. | ||||||||||||||||||||
(e) | Includes $690 of severance and restructuring costs. | ||||||||||||||||||||
(f) | Includes $3,120 of expense related to the withdrawal from a multi-employer employee pension plan in Japan. | ||||||||||||||||||||
Sales Information by Geographic Regions | ' | ||||||||||||||||||||
We have significant sales and long-lived assets in the following geographic areas: | |||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||
Net external sales | |||||||||||||||||||||
United States | $ | 465,789 | $ | 388,904 | $ | 312,328 | |||||||||||||||
Americas | 123,654 | 109,074 | 102,077 | ||||||||||||||||||
Europe | 416,725 | 381,005 | 390,319 | ||||||||||||||||||
Japan | 127,945 | 127,509 | 111,003 | ||||||||||||||||||
Asia Pacific | 408,808 | 403,086 | 317,432 | ||||||||||||||||||
Total net external sales | $ | 1,542,921 | $ | 1,409,578 | $ | 1,233,159 | |||||||||||||||
Long-lived assets | |||||||||||||||||||||
United States | $ | 136,551 | $ | 127,486 | $ | 90,994 | |||||||||||||||
Americas | 4,154 | 3,180 | 2,933 | ||||||||||||||||||
Europe | 22,576 | 14,896 | 16,312 | ||||||||||||||||||
Japan | 4,384 | 3,431 | 3,496 | ||||||||||||||||||
Asia Pacific | 33,314 | 25,938 | 17,148 | ||||||||||||||||||
Total long-lived assets | $ | 200,979 | $ | 174,931 | $ | 130,883 | |||||||||||||||
Total Consolidated Income Before Income Taxes | ' | ||||||||||||||||||||
A reconciliation of total segment operating income to total consolidated income before income taxes is as follows: | |||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||
Total profit for reportable segments | $ | 323,849 | $ | 335,480 | $ | 315,543 | |||||||||||||||
Interest expense | (14,841 | ) | (11,153 | ) | (5,069 | ) | |||||||||||||||
Interest and investment income | 421 | 463 | 569 | ||||||||||||||||||
Other-net | 1,694 | 1,463 | 3,518 | ||||||||||||||||||
Income before income taxes | $ | 311,123 | $ | 326,253 | $ | 314,561 | |||||||||||||||
Summary of Reconciliation of Consolidated Assets | ' | ||||||||||||||||||||
A reconciliation of total assets for reportable segments to total consolidated assets is as follows: | |||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||
Total assets for reportable segments | $ | 2,042,894 | $ | 1,836,024 | $ | 1,320,391 | |||||||||||||||
Customer advance payments | 28,341 | 20,894 | 9,375 | ||||||||||||||||||
Eliminations | (28,946 | ) | (27,403 | ) | (25,316 | ) | |||||||||||||||
Total consolidated assets | $ | 2,042,289 | $ | 1,829,515 | $ | 1,304,450 | |||||||||||||||
Supplemental_Information_for_t1
Supplemental Information for the Statement of Cash Flows (Tables) | 12 Months Ended | ||||||||||||
Oct. 31, 2013 | |||||||||||||
Supplemental Cash Flow Elements [Abstract] | ' | ||||||||||||
Supplemental information for the statement of cash flows | ' | ||||||||||||
Supplemental information for the statement of cash flows | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Cash operating activities: | |||||||||||||
Interest paid | $ | 16,037 | $ | 9,285 | $ | 4,972 | |||||||
Income taxes paid | 93,074 | 70,935 | 96,487 | ||||||||||
Non-cash investing and financing activities: | |||||||||||||
Capitalized lease obligations incurred | $ | 6,441 | $ | 12,981 | $ | 8,154 | |||||||
Capitalized lease obligations terminated | 468 | 894 | 534 | ||||||||||
Shares acquired and issued through exercise of stock options | 148 | 2,323 | 5,228 |
Quarterly_Financial_Data_Unaud1
Quarterly Financial Data (Unaudited) (Tables) | 12 Months Ended | ||||||||||||||||
Oct. 31, 2013 | |||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | ||||||||||||||||
Quarterly Financial Data | ' | ||||||||||||||||
Quarterly financial data (unaudited) | |||||||||||||||||
First | Second | Third | Fourth | ||||||||||||||
2013:00:00 | |||||||||||||||||
Sales | $ | 347,043 | $ | 382,100 | $ | 402,960 | $ | 410,818 | |||||||||
Gross margin | 197,229 | 216,938 | 225,083 | 226,894 | |||||||||||||
Net income | 42,011 | 54,605 | 65,424 | 59,777 | |||||||||||||
Earnings per share: | |||||||||||||||||
Basic | 0.65 | 0.85 | 1.02 | 0.93 | |||||||||||||
Diluted | 0.65 | 0.84 | 1.01 | 0.92 | |||||||||||||
2012:00:00 | |||||||||||||||||
Sales | $ | 275,836 | $ | 315,193 | $ | 379,872 | $ | 438,677 | |||||||||
Gross margin | 169,346 | 189,656 | 223,214 | 241,073 | |||||||||||||
Net income | 38,338 | 52,111 | 66,694 | 67,686 | |||||||||||||
Earnings per share: | |||||||||||||||||
Basic | 0.59 | 0.81 | 1.04 | 1.06 | |||||||||||||
Diluted | 0.58 | 0.8 | 1.03 | 1.04 |
Significant_Accounting_Policie3
Significant Accounting Policies - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Oct. 31, 2013 | Oct. 31, 2012 | Oct. 31, 2011 |
Significant Accounting Policies [Line Items] | ' | ' | ' |
Advertising costs incurred | $12,480 | $10,935 | $9,008 |
Research and development costs incurred | 47,973 | 36,535 | 26,997 |
Periods of performance considered for calculating compensation expense | '3 years | ' | ' |
Liquid instruments maturity days | '90 days or less | ' | ' |
Cost percentage of inventory under LIFO method | 21.00% | 24.00% | ' |
Consolidated inventories under FIFO method | 6,797 | 6,810 | ' |
Interest charges capitalized | $0 | $0 | $0 |
Standard product warranty period | '1 year | ' | ' |
Stock Options [Member] | ' | ' | ' |
Significant Accounting Policies [Line Items] | ' | ' | ' |
Options for common shares excluded from computation of diluted earning per share | 0 | 75 | 71 |
Maximum [Member] | ' | ' | ' |
Significant Accounting Policies [Line Items] | ' | ' | ' |
Ownership percentage in affiliates and joint ventures | 50.00% | ' | ' |
Significant_Accounting_Policie4
Significant Accounting Policies - Useful Lives of Property, Plant and Equipment and Depreciation (Detail) | 12 Months Ended |
Oct. 31, 2013 | |
Minimum [Member] | Land Improvements [Member] | ' |
Depreciation Amortization Impairment [Line Items] | ' |
Useful lives of property, plant and equipment and depreciation | '15 years |
Minimum [Member] | Buildings [Member] | ' |
Depreciation Amortization Impairment [Line Items] | ' |
Useful lives of property, plant and equipment and depreciation | '20 years |
Minimum [Member] | Machinery and Equipment [Member] | ' |
Depreciation Amortization Impairment [Line Items] | ' |
Useful lives of property, plant and equipment and depreciation | '3 years |
Minimum [Member] | Enterprise Management Systems [Member] | ' |
Depreciation Amortization Impairment [Line Items] | ' |
Useful lives of property, plant and equipment and depreciation | '5 years |
Maximum [Member] | Land Improvements [Member] | ' |
Depreciation Amortization Impairment [Line Items] | ' |
Useful lives of property, plant and equipment and depreciation | '25 years |
Maximum [Member] | Buildings [Member] | ' |
Depreciation Amortization Impairment [Line Items] | ' |
Useful lives of property, plant and equipment and depreciation | '40 years |
Maximum [Member] | Machinery and Equipment [Member] | ' |
Depreciation Amortization Impairment [Line Items] | ' |
Useful lives of property, plant and equipment and depreciation | '12 years |
Maximum [Member] | Enterprise Management Systems [Member] | ' |
Depreciation Amortization Impairment [Line Items] | ' |
Useful lives of property, plant and equipment and depreciation | '13 years |
Significant_Accounting_Policie5
Significant Accounting Policies - Weighted Average Useful Lives for Each Major Category of Amortizable Intangible Assets (Detail) | 12 Months Ended | |
Oct. 31, 2013 | Oct. 31, 2012 | |
Patent/Technology Costs [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Weighted average useful lives for each major category of amortizable intangible assets | '14 years | ' |
Customer Relationships [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Weighted average useful lives for each major category of amortizable intangible assets | '18 years | ' |
Noncompete Agreements [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Weighted average useful lives for each major category of amortizable intangible assets | '5 years | '2 years |
Trade Names [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Weighted average useful lives for each major category of amortizable intangible assets | '16 years | '15 years |
Significant_Accounting_Policie6
Significant Accounting Policies - Accumulated Other Comprehensive Loss (Detail) (USD $) | Oct. 31, 2013 | Oct. 31, 2012 |
In Thousands, unless otherwise specified | ||
Accounting Policies [Abstract] | ' | ' |
Translation adjustments | $26,699 | $26,234 |
Pension and postretirement benefit plan adjustments | -84,079 | -130,460 |
Accumulated other comprehensive loss | ($57,380) | ($104,226) |
Significant_Accounting_Policie7
Significant Accounting Policies - Reconciliation of Product Warranty Liability (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Oct. 31, 2013 | Oct. 31, 2012 |
Accounting Policies [Abstract] | ' | ' |
Beginning balance | $8,929 | $6,723 |
Accruals for warranties | 7,891 | 5,430 |
Warranty assumed from acquisitions | 947 | 2,252 |
Warranty payments | -8,356 | -5,307 |
Currency adjustments | -2 | -169 |
Ending balance | $9,409 | $8,929 |
Acquisitions_Additional_Inform
Acquisitions - Additional Information (Detail) (USD $) | Oct. 31, 2013 | Oct. 31, 2012 | Oct. 31, 2012 | Oct. 31, 2011 | Oct. 31, 2012 | Oct. 31, 2012 | Oct. 31, 2013 | Oct. 31, 2012 | Oct. 31, 2013 | Oct. 31, 2012 | Oct. 31, 2013 | Aug. 02, 2012 | Oct. 31, 2013 | Aug. 26, 2011 | Aug. 26, 2011 | Aug. 26, 2011 | Aug. 26, 2011 | Aug. 26, 2011 | Nov. 01, 2010 | Nov. 01, 2010 | Jun. 30, 2011 | Jun. 30, 2011 | Nov. 08, 2012 | Nov. 08, 2012 | Nov. 08, 2012 | Jun. 14, 2012 | Jun. 21, 2012 | Aug. 30, 2013 | Aug. 30, 2013 | Aug. 30, 2013 | Aug. 30, 2013 | Sep. 27, 2013 | Sep. 27, 2013 | Sep. 27, 2013 |
In Thousands, unless otherwise specified | 2012 Acquisitions [Member] | 2012 Acquisitions [Member] | Customer Lists [Member] | Technology-Based Intangible Assets [Member] | Trade Names [Member] | Trade Names [Member] | Noncompete Agreements [Member] | Noncompete Agreements [Member] | Customer Relationships [Member] | Sealant Equipment & Engineering, Inc. [Member] | EDI and Xaloy [Member] | Value Plastics Inc [Member] | Value Plastics Inc [Member] | Value Plastics Inc [Member] | Value Plastics Inc [Member] | Value Plastics Inc [Member] | Micromedics [Member] | Micromedics [Member] | Verbruggen [Member] | Verbruggen [Member] | Kodama Chemical Industry Co., Ltd [Member] | Kodama Chemical Industry Co., Ltd [Member] | Kodama Chemical Industry Co., Ltd [Member] | EDI Holdings, Inc. [Member] | Xaloy Superior Holdings, Inc. [Member] | Kreyenborg [Member] | Kreyenborg [Member] | Kreyenborg [Member] | Kreyenborg [Member] | Covidien And Nellcor [Member] | Covidien And Nellcor [Member] | Covidien And Nellcor [Member] | ||
2011 Acquisitions [Member] | Customer Lists [Member] | Trade Names [Member] | Noncompete Agreements [Member] | Technology Asset [Member] | Other 2011 Acquisitions [Member] | Customer Lists [Member] | Other 2011 Acquisitions [Member] | Customer Lists [Member] | 2013 Acquisition [Member] | Technology-Based Intangible Assets [Member] | Customer Relationships [Member] | Person | Technology-Based Intangible Assets [Member] | Trade Names [Member] | Customer Relationships [Member] | Customer Relationships [Member] | Technology [Member] | |||||||||||||||||
2011 Acquisitions [Member] | 2011 Acquisitions [Member] | 2011 Acquisitions [Member] | 2011 Acquisitions [Member] | Other 2011 Acquisitions [Member] | Other 2011 Acquisitions [Member] | 2013 Acquisition [Member] | 2013 Acquisition [Member] | |||||||||||||||||||||||||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Acquisition date fair value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1,335 | ' | ' | ' | ' | ' | ' | ' | ' | $5,500 | ' | ' |
Fair value of Cash transferred | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,231 | ' | ' | ' | ' | 169,994 | ' | ' | ' | ' | ' | ' |
Holdback liability | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 104 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair value of the assets acquired and the liabilities assumed, intangible assets | ' | ' | ' | ' | 48,350 | 25,740 | ' | 43,710 | ' | 4,416 | ' | ' | ' | ' | 40,400 | 15,400 | 420 | 18,500 | ' | 4,550 | ' | 2,900 | 912 | 65 | 847 | ' | ' | 60,021 | 15,336 | 1,851 | 42,306 | ' | 1,310 | ' |
Amortization period | ' | ' | ' | ' | '9 years | '15 years | '16 years | '15 years | '5 years | '2 years | '18 years | ' | ' | ' | '25 years | '20 years | '2 years | '15 years | ' | '10 years | ' | '11 years | ' | '9 years | '9 years | ' | ' | ' | '15 years | '10 years | '15 years | ' | '25 years | '10 years |
Acquired percent of the outstanding shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | ' | 100.00% | ' | ' | ' | ' | 100.00% | ' | 100.00% | ' | ' | ' | ' | 100.00% | 100.00% | 100.00% | ' | ' | ' | ' | ' | ' |
Number of employees of acquired entity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 270 | ' | ' | ' | ' | ' | ' |
Cash acquired | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 22,913 | ' | ' | ' | ' | ' | ' |
Debt assumed | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 391 | ' | ' | ' | ' | ' | ' |
Goodwill | 939,211 | 812,817 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 13,312 | ' | 8,461 | ' | ' | ' | ' | ' | ' | 115,103 | ' | ' | ' | 2,301 | ' | ' |
Property Plant and Equipment acquired | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,149 | ' | ' |
Fair value of the assets acquired and the liabilities assumed, intangible assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7,500 | ' | 4,017 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 740 |
Goodwill | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 24,058 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business combination goodwill related to tax deduction | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 11,000 | 15,600 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Acquisition related expenses excluded from results | ' | ' | 2,109 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 375 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Nonrecurring expense related to the fair value adjustment | ' | ' | 4,589 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,401 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Intangible assets, amortization expense | ' | ' | 11,713 | 13,159 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,829 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Adjusted to include acquisition related expenses | ' | ' | ' | 2,109 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Nonrecurring expense related to the fair value adjustment to acquisition-date inventory included in proforma results | ' | ' | ' | 4,589 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair value of the consideration transferred, net of cash acquired | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $21,296 | ' | $13,305 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Acquisitions_Allocation_of_Pur
Acquisitions - Allocation of Purchase Price (Detail) (USD $) | Oct. 31, 2012 | Oct. 31, 2011 |
In Thousands, unless otherwise specified | 2012 Acquisitions [Member] | 2011 Acquisitions [Member] |
Value Plastics [Member] | ||
Fair values: | ' | ' |
Current assets | $70,391 | ' |
Assets acquired | ' | 27,101 |
Non-current assets | 58,275 | ' |
Liabilities assumed | ' | -19,288 |
Intangible assets subject to amortization | 122,216 | 74,720 |
Goodwill | 271,501 | 178,954 |
Current liabilities | -31,426 | ' |
Non-current liabilities | -34,059 | ' |
Total fair values | 456,898 | 261,487 |
Less cash acquired | -8,403 | -3,108 |
Purchase price | $448,495 | $258,379 |
Acquisitions_Business_Acquisit
Acquisitions- Business Acquisition Pro forma of Financial Information (Detail) (USD $) | 12 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Oct. 31, 2012 | Oct. 31, 2011 |
2012 Acquisitions [Member] | ' | ' |
Business Acquisitions Pro Forma Information [Line Items] | ' | ' |
Sales | $1,537,251 | $1,429,798 |
Net income | 234,092 | 225,867 |
Basic earnings per share | $3.63 | $3.34 |
Diluted earnings per share | $3.60 | $3.30 |
2011 Acquisitions [Member] | Value Plastics [Member] | ' | ' |
Business Acquisitions Pro Forma Information [Line Items] | ' | ' |
Sales | ' | 1,259,127 |
Net income | ' | $224,934 |
Basic earnings per share | ' | $3.33 |
Diluted earnings per share | ' | $3.29 |
Details_of_Balance_Sheet_Detai
Details of Balance Sheet - Details of Balance Sheet (Detail) (USD $) | Oct. 31, 2013 | Oct. 31, 2012 | Oct. 31, 2011 |
In Thousands, unless otherwise specified | |||
Receivables: | ' | ' | ' |
Accounts | $292,469 | $308,604 | ' |
Notes | 9,467 | 13,797 | ' |
Other | 11,036 | 5,938 | ' |
Receivables, total | 312,972 | 328,339 | ' |
Allowance for doubtful accounts | -4,265 | -3,776 | ' |
Receivables-net | 308,707 | 324,563 | ' |
Inventories: | ' | ' | ' |
Raw materials and component parts | 81,943 | 71,189 | ' |
Work-in-process | 34,756 | 22,159 | ' |
Finished goods | 115,078 | 103,552 | ' |
Inventories gross | 231,777 | 196,900 | ' |
Obsolescence and other reserves | -26,579 | -20,505 | ' |
LIFO reserve | -6,797 | -6,810 | ' |
Inventories net | 198,401 | 169,585 | ' |
Property, plant and equipment: | ' | ' | ' |
Property, plant and equipment gross | 527,856 | 471,811 | ' |
Accumulated depreciation and amortization | -326,877 | -296,880 | ' |
Property, plant and equipment - net | 200,979 | 174,931 | 130,883 |
Accrued liabilities: | ' | ' | ' |
Salaries and other compensation | 44,561 | 46,930 | ' |
Pension and retirement | 720 | 1,435 | ' |
Taxes other than income taxes | 5,570 | 6,192 | ' |
Other | 59,677 | 62,819 | ' |
Accrued liabilities total | 110,528 | 117,376 | ' |
Land [Member] | ' | ' | ' |
Property, plant and equipment: | ' | ' | ' |
Property, plant and equipment gross | 10,383 | 8,533 | ' |
Land Improvements [Member] | ' | ' | ' |
Property, plant and equipment: | ' | ' | ' |
Property, plant and equipment gross | 3,849 | 3,424 | ' |
Buildings [Member] | ' | ' | ' |
Property, plant and equipment: | ' | ' | ' |
Property, plant and equipment gross | 127,178 | 125,338 | ' |
Machinery and Equipment [Member] | ' | ' | ' |
Property, plant and equipment: | ' | ' | ' |
Property, plant and equipment gross | 294,374 | 257,229 | ' |
Enterprise Management System [Member] | ' | ' | ' |
Property, plant and equipment: | ' | ' | ' |
Property, plant and equipment gross | 43,983 | 43,335 | ' |
Construction in Progress [Member] | ' | ' | ' |
Property, plant and equipment: | ' | ' | ' |
Property, plant and equipment gross | 21,251 | 10,110 | ' |
Leased Property Under Capitalized Leases [Member] | ' | ' | ' |
Property, plant and equipment: | ' | ' | ' |
Property, plant and equipment gross | $26,838 | $23,842 | ' |
Goodwill_and_Intangible_Assets2
Goodwill and Intangible Assets - Summary of Changes in Carrying Amount of Goodwill (Detail) (USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Oct. 31, 2013 |
Goodwill [Line Items] | ' |
Beginning Balance | $812,817 |
Acquisitions | 117,404 |
Adjustments | 4,825 |
Currency effect | 4,165 |
Ending Balance | 939,211 |
Adhesive Dispensing Systems [Member] | ' |
Goodwill [Line Items] | ' |
Beginning Balance | 284,411 |
Acquisitions | 115,103 |
Adjustments | 4,014 |
Currency effect | 3,741 |
Ending Balance | 407,269 |
Advanced Technology Systems [Member] | ' |
Goodwill [Line Items] | ' |
Beginning Balance | 505,159 |
Acquisitions | 2,301 |
Adjustments | ' |
Currency effect | 424 |
Ending Balance | 507,884 |
Industrial Coating Systems [Member] | ' |
Goodwill [Line Items] | ' |
Beginning Balance | 23,247 |
Acquisitions | ' |
Adjustments | 811 |
Currency effect | ' |
Ending Balance | $24,058 |
Goodwill_and_Intangible_Assets3
Goodwill and Intangible Assets - Additional Information (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Oct. 31, 2013 | Oct. 31, 2012 |
Goodwill [Line Items] | ' | ' |
Goodwill accumulated impairment loss | $232,789 | $232,789 |
Intangible assets, amortization expense | 22,672 | 14,521 |
Advanced Technology Systems [Member] | ' | ' |
Goodwill [Line Items] | ' | ' |
Goodwill accumulated impairment loss | 229,173 | 229,173 |
Industrial Coating Systems [Member] | ' | ' |
Goodwill [Line Items] | ' | ' |
Goodwill accumulated impairment loss | $3,616 | $3,616 |
Goodwill_and_Intangible_Assets4
Goodwill and Intangible Assets - Summary of Intangible Assets Subject to Amortization (Detail) (USD $) | Oct. 31, 2013 | Oct. 31, 2012 |
In Thousands, unless otherwise specified | ||
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Carrying Amount | $336,133 | $271,658 |
Accumulated Amortization | 67,060 | 43,767 |
Net Book Value | 269,073 | 227,891 |
Customer Relationships [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Carrying Amount | 171,489 | 126,086 |
Accumulated Amortization | 28,872 | 18,167 |
Net Book Value | 142,617 | 107,919 |
Patent/Technology Costs [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Carrying Amount | 85,414 | 68,892 |
Accumulated Amortization | 21,145 | 15,678 |
Net Book Value | 64,269 | 53,214 |
Trade Names [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Carrying Amount | 67,865 | 65,911 |
Accumulated Amortization | 7,856 | 3,716 |
Net Book Value | 60,009 | 62,195 |
Noncompete Agreements [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Carrying Amount | 9,965 | 9,337 |
Accumulated Amortization | 8,091 | 5,234 |
Net Book Value | 1,874 | 4,103 |
Other [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Carrying Amount | 1,400 | 1,432 |
Accumulated Amortization | 1,096 | 972 |
Net Book Value | $304 | $460 |
Goodwill_and_Intangible_Assets5
Goodwill and Intangible Assets - Estimated Amortization Expense (Detail) (USD $) | Oct. 31, 2013 |
In Thousands, unless otherwise specified | |
Goodwill And Intangible Assets Disclosure [Abstract] | ' |
Estimated Amortization Expense, 2014 | $24,641 |
Estimated Amortization Expense, 2015 | 23,242 |
Estimated Amortization Expense, 2016 | 22,324 |
Estimated Amortization Expense, 2017 | 21,951 |
Estimated Amortization Expense, 2018 | $21,766 |
Retirement_Pension_and_Other_P2
Retirement Pension and Other Postretirement Plans - Additional Information (Detail) (USD $) | 3 Months Ended | 12 Months Ended | ||
In Thousands, unless otherwise specified | Jan. 31, 2012 | Oct. 31, 2013 | Oct. 31, 2012 | Oct. 31, 2011 |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Expenses on retirement plan | ' | $12,955 | $10,827 | $8,594 |
Defined contribution plan vesting period | ' | '3 years | ' | ' |
Settlement loss | -682 | ' | ' | ' |
Equity Securities [Member] | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Percentage of target rate in return seeking assets | ' | 45.00% | ' | ' |
Debt Securities [Member] | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Percentage of target rate in return seeking assets | ' | 55.00% | ' | ' |
Pension Plan, United States [Member] | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Settlement loss | ' | ' | 682 | ' |
Percentage of World wide pension assets | ' | 87.00% | ' | ' |
Investments in common shares | ' | 0 | 0 | ' |
Pension Plan, International [Member] | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Percentage of World wide pension assets | ' | 13.00% | ' | ' |
Components of Net Periodic Pension Cost [Member] | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Employer contribution in next fiscal year | ' | 21,900 | ' | ' |
Components of Net Postretirement Benefit Cost [Member] | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Employer contribution in next fiscal year | ' | $2,000 | ' | ' |
Retirement_Pension_and_Other_P3
Retirement, Pension and Other Postretirement Plans - Reconciliation of the Benefit Obligations, Plan Assets, Accrued Benefit Cost and the Amount Recognized in Financial Statements for Pension Plans (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Oct. 31, 2013 | Oct. 31, 2012 | Oct. 31, 2011 |
Postretirement Benefit Plans, United States [Member] | ' | ' | ' |
Change in benefit obligation: | ' | ' | ' |
Benefit obligation at beginning of year | $71,228 | $73,392 | ' |
Service cost | 1,145 | 1,183 | 1,122 |
Interest cost | 2,598 | 2,759 | 2,932 |
Participant contributions | 600 | 1,393 | ' |
Plan amendments | ' | -202 | ' |
Foreign currency exchange rate change | ' | ' | ' |
Actuarial (gain) loss | -11,619 | -4,315 | ' |
Benefits paid | -2,948 | -2,982 | ' |
Benefit obligation at end of year | 61,004 | 71,228 | 73,392 |
Change in plan assets: | ' | ' | ' |
Beginning fair value of plan assets | ' | ' | ' |
Company contributions | 2,348 | 1,589 | ' |
Participant contributions | 600 | 1,393 | ' |
Benefits paid | -2,948 | -2,982 | ' |
Ending fair value of plan assets | ' | ' | ' |
Funded status at end of year | -61,004 | -71,228 | ' |
Amounts recognized in financial statements: | ' | ' | ' |
Accrued benefit liability | -1,974 | -2,224 | ' |
Long-term pension and retirement obligations | -59,030 | -69,004 | ' |
Total amount recognized in financial statements | -61,004 | -71,228 | ' |
Amounts recognized in accumulated other comprehensive (gain) loss: | ' | ' | ' |
Net actuarial (gain) loss | 17,854 | 31,585 | ' |
Prior service cost (credit) | -1,461 | -1,934 | ' |
Accumulated other comprehensive (gain) loss | 16,393 | 29,651 | 35,374 |
Amounts expected to be recognized during next fiscal year: | ' | ' | ' |
Amortization of net actuarial (gain) loss | 1,139 | 2,214 | ' |
Amortization of prior service cost (credit) | -449 | -1,758 | ' |
Total | 690 | 456 | ' |
Postretirement Benefit Plans, International [Member] | ' | ' | ' |
Change in benefit obligation: | ' | ' | ' |
Benefit obligation at beginning of year | 851 | 678 | ' |
Service cost | 35 | 28 | 31 |
Interest cost | 38 | 41 | 41 |
Participant contributions | ' | ' | ' |
Plan amendments | ' | ' | ' |
Foreign currency exchange rate change | -34 | 1 | ' |
Actuarial (gain) loss | -118 | 107 | ' |
Benefits paid | -4 | -4 | ' |
Benefit obligation at end of year | 768 | 851 | 678 |
Change in plan assets: | ' | ' | ' |
Beginning fair value of plan assets | ' | ' | ' |
Company contributions | 4 | 4 | ' |
Participant contributions | ' | ' | ' |
Benefits paid | -4 | -4 | ' |
Ending fair value of plan assets | ' | ' | ' |
Funded status at end of year | -768 | -851 | ' |
Amounts recognized in financial statements: | ' | ' | ' |
Accrued benefit liability | -4 | -4 | ' |
Long-term pension and retirement obligations | -764 | -847 | ' |
Total amount recognized in financial statements | -768 | -851 | ' |
Amounts recognized in accumulated other comprehensive (gain) loss: | ' | ' | ' |
Net actuarial (gain) loss | -243 | -138 | ' |
Prior service cost (credit) | ' | ' | ' |
Accumulated other comprehensive (gain) loss | -243 | -138 | -260 |
Amounts expected to be recognized during next fiscal year: | ' | ' | ' |
Amortization of net actuarial (gain) loss | -14 | -4 | ' |
Amortization of prior service cost (credit) | ' | ' | ' |
Total | -14 | -4 | ' |
Pension Plan, United States [Member] | ' | ' | ' |
Change in benefit obligation: | ' | ' | ' |
Benefit obligation at beginning of year | 326,792 | 268,949 | ' |
Service cost | 8,896 | 7,488 | 6,058 |
Interest cost | 12,314 | 12,137 | 12,008 |
Participant contributions | ' | ' | ' |
Plan amendments | 1,667 | -3,199 | ' |
Addition of plans from business combination | ' | 14,935 | ' |
Foreign currency exchange rate change | ' | ' | ' |
Actuarial (gain) loss | -40,996 | 36,852 | ' |
Benefits paid | -8,957 | -10,370 | ' |
Benefit obligation at end of year | 299,716 | 326,792 | 268,949 |
Change in plan assets: | ' | ' | ' |
Beginning fair value of plan assets | 214,128 | 184,701 | ' |
Actual return on plan assets | 20,951 | 22,088 | ' |
Company contributions | 17,384 | 9,060 | ' |
Participant contributions | ' | ' | ' |
Addition of plans from business combination | ' | 8,649 | ' |
Foreign currency exchange rate change | ' | ' | ' |
Benefits paid | -8,957 | -10,370 | ' |
Ending fair value of plan assets | 243,506 | 214,128 | 184,701 |
Funded status at end of year | -56,210 | -112,664 | ' |
Amounts recognized in financial statements: | ' | ' | ' |
Noncurrent asset | ' | ' | ' |
Accrued benefit liability | -938 | -620 | ' |
Long-term pension and retirement obligations | -55,272 | -112,044 | ' |
Total amount recognized in financial statements | -56,210 | -112,664 | ' |
Amounts recognized in accumulated other comprehensive (gain) loss: | ' | ' | ' |
Net actuarial (gain) loss | 93,537 | 154,238 | ' |
Prior service cost (credit) | 4 | -1,506 | ' |
Accumulated other comprehensive (gain) loss | 93,541 | 152,732 | 138,962 |
Amounts expected to be recognized during next fiscal year: | ' | ' | ' |
Amortization of net actuarial (gain) loss | 8,260 | 13,943 | ' |
Amortization of prior service cost (credit) | 237 | 157 | ' |
Total | 8,497 | 14,100 | ' |
Pension Plan, International [Member] | ' | ' | ' |
Change in benefit obligation: | ' | ' | ' |
Benefit obligation at beginning of year | 83,433 | 71,361 | ' |
Service cost | 2,098 | 1,504 | 2,097 |
Interest cost | 2,872 | 3,002 | 2,973 |
Participant contributions | 132 | 133 | ' |
Plan amendments | ' | ' | ' |
Addition of plans from business combination | ' | ' | ' |
Foreign currency exchange rate change | -279 | -2,000 | ' |
Actuarial (gain) loss | -54 | 11,934 | ' |
Benefits paid | -2,659 | -2,501 | ' |
Benefit obligation at end of year | 85,543 | 83,433 | 71,361 |
Change in plan assets: | ' | ' | ' |
Beginning fair value of plan assets | 34,217 | 32,167 | ' |
Actual return on plan assets | 2,102 | 1,283 | ' |
Company contributions | 3,501 | 3,492 | ' |
Participant contributions | 132 | 133 | ' |
Addition of plans from business combination | ' | ' | ' |
Foreign currency exchange rate change | -215 | -357 | ' |
Benefits paid | -2,659 | -2,501 | ' |
Ending fair value of plan assets | 37,078 | 34,217 | 32,167 |
Funded status at end of year | -48,465 | -49,216 | ' |
Amounts recognized in financial statements: | ' | ' | ' |
Noncurrent asset | 22 | 144 | ' |
Accrued benefit liability | -5 | -5 | ' |
Long-term pension and retirement obligations | -48,482 | -49,355 | ' |
Total amount recognized in financial statements | -48,465 | -49,216 | ' |
Amounts recognized in accumulated other comprehensive (gain) loss: | ' | ' | ' |
Net actuarial (gain) loss | 24,392 | 26,310 | ' |
Prior service cost (credit) | -798 | -1,080 | ' |
Accumulated other comprehensive (gain) loss | 23,594 | 25,230 | 13,736 |
Amounts expected to be recognized during next fiscal year: | ' | ' | ' |
Amortization of net actuarial (gain) loss | 1,531 | 1,418 | ' |
Amortization of prior service cost (credit) | -82 | -96 | ' |
Total | $1,449 | $1,322 | ' |
Retirement_Pension_and_Other_P4
Retirement, Pension and Other Postretirement Plans - Summary of Changes in Accumulated Other Comprehensive (Gain) Loss (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Oct. 31, 2013 | Oct. 31, 2012 |
Pension Plan, United States [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Balance at beginning of year | $152,732 | $138,962 |
Net (gain) loss arising during the year | -46,707 | 29,877 |
Prior service cost (credit) arising during the year | 1,668 | -3,199 |
Net gain (loss) recognized during the year | -13,995 | -11,672 |
Prior service (cost) credit recognized during the year | -157 | -342 |
Settlement loss | ' | -894 |
Exchange rate effect during the year | ' | ' |
Balance at end of year | 93,541 | 152,732 |
Pension Plan, International [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Balance at beginning of year | 25,230 | 13,736 |
Net (gain) loss arising during the year | -642 | 12,197 |
Prior service cost (credit) arising during the year | ' | ' |
Net gain (loss) recognized during the year | -1,406 | -564 |
Prior service (cost) credit recognized during the year | 81 | 97 |
Settlement loss | ' | ' |
Exchange rate effect during the year | 331 | -236 |
Balance at end of year | 23,594 | 25,230 |
Postretirement Benefit Plans, United States [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Balance at beginning of year | 29,651 | 35,374 |
Net (gain) loss arising during the year | -11,619 | -4,315 |
Prior service cost (credit) arising during the year | ' | -202 |
Net gain (loss) recognized during the year | -2,112 | -1,790 |
Prior service (cost) credit recognized during the year | 473 | 584 |
Exchange rate effect during the year | ' | ' |
Balance at end of year | 16,393 | 29,651 |
Postretirement Benefit Plans, International [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Balance at beginning of year | -138 | -260 |
Net (gain) loss arising during the year | -117 | 108 |
Prior service cost (credit) arising during the year | ' | ' |
Net gain (loss) recognized during the year | 4 | 14 |
Prior service (cost) credit recognized during the year | ' | ' |
Exchange rate effect during the year | 8 | ' |
Balance at end of year | ($243) | ($138) |
Retirement_Pension_and_Other_P5
Retirement, Pension and Other Postretirement Plans - Accumulated Benefit Obligation (Detail) (USD $) | Oct. 31, 2013 | Oct. 31, 2012 |
In Thousands, unless otherwise specified | ||
Pension Plan, United States [Member] | ' | ' |
For all plans: | ' | ' |
Accumulated benefit obligation | $291,310 | $316,080 |
For plans with benefit obligations in excess of plan assets: | ' | ' |
Projected benefit obligation | 299,716 | 326,792 |
Accumulated benefit obligation | 291,310 | 316,080 |
Fair value of plan assets | 243,506 | 214,128 |
Pension Plan, International [Member] | ' | ' |
For all plans: | ' | ' |
Accumulated benefit obligation | 67,647 | 65,725 |
For plans with benefit obligations in excess of plan assets: | ' | ' |
Projected benefit obligation | 71,788 | 70,153 |
Accumulated benefit obligation | 59,589 | 58,425 |
Fair value of plan assets | $29,000 | $26,757 |
Retirement_Pension_and_Other_P6
Retirement, Pension and Other Postretirement Plans - Net Periodic Benefit Cost (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||||
In Thousands, unless otherwise specified | Jan. 31, 2012 | Oct. 31, 2013 | Oct. 31, 2012 | Oct. 31, 2011 | Oct. 31, 2013 | Oct. 31, 2012 | Oct. 31, 2011 | Oct. 31, 2013 | Oct. 31, 2012 | Oct. 31, 2011 | Oct. 31, 2013 | Oct. 31, 2012 | Oct. 31, 2011 |
Pension Plan, United States [Member] | Pension Plan, United States [Member] | Pension Plan, United States [Member] | Pension Plan, International [Member] | Pension Plan, International [Member] | Pension Plan, International [Member] | Postretirement Benefit Plans, United States [Member] | Postretirement Benefit Plans, United States [Member] | Postretirement Benefit Plans, United States [Member] | Postretirement Benefit Plans, International [Member] | Postretirement Benefit Plans, International [Member] | Postretirement Benefit Plans, International [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Service cost | ' | $8,896 | $7,488 | $6,058 | $2,098 | $1,504 | $2,097 | $1,145 | $1,183 | $1,122 | $35 | $28 | $31 |
Interest cost | ' | 12,314 | 12,137 | 12,008 | 2,872 | 3,002 | 2,973 | 2,598 | 2,759 | 2,932 | 38 | 41 | 41 |
Expected return on plan assets | ' | -15,241 | -14,901 | -15,575 | -1,512 | -1,547 | -1,466 | ' | ' | ' | ' | ' | ' |
Amortization of prior service cost (credit) | ' | 157 | 342 | 666 | -81 | -97 | 5 | -473 | -584 | -1,147 | ' | ' | ' |
Amortization of net actuarial (gain) loss | ' | 13,995 | 11,672 | 7,438 | 1,406 | 564 | 858 | 2,112 | 1,789 | 1,606 | -4 | -14 | -8 |
Settlement loss | -682 | ' | 682 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total benefit cost | ' | $20,121 | $17,420 | $10,595 | $4,783 | $3,426 | $4,467 | $5,382 | $5,147 | $4,513 | $69 | $55 | $64 |
Retirement_Pension_and_Other_P7
Retirement, Pension and Other Postretirement Plans - Weighted Average Assumptions Representing the Rates Used to Develop the Actuarial Present Value of Projected Benefit Obligation and the Net Periodic Benefit Costs (Detail) | 12 Months Ended | ||
Oct. 31, 2013 | Oct. 31, 2012 | Oct. 31, 2011 | |
Pension Plan, United States [Member] | ' | ' | ' |
Assumptions used to determine benefit obligations at October 31: | ' | ' | ' |
Discount rate | 4.75% | 3.85% | 4.46% |
Rate of compensation increase | 3.30% | 3.30% | 3.20% |
Assumption used to determine net benefit costs for the years ended October 31: | ' | ' | ' |
Discount rate | 3.85% | 4.46% | 5.21% |
Expected return on plan assets | 7.24% | 7.75% | 8.25% |
Rate of compensation increase | 3.30% | 3.20% | 3.30% |
Pension Plan, International [Member] | ' | ' | ' |
Assumptions used to determine benefit obligations at October 31: | ' | ' | ' |
Discount rate | 3.72% | 3.52% | 4.43% |
Rate of compensation increase | 3.18% | 3.13% | 3.16% |
Assumption used to determine net benefit costs for the years ended October 31: | ' | ' | ' |
Discount rate | 3.52% | 4.43% | 4.17% |
Expected return on plan assets | 4.43% | 4.85% | 4.84% |
Rate of compensation increase | 3.13% | 3.16% | 3.21% |
Postretirement Benefit Plans, United States [Member] | ' | ' | ' |
Assumptions used to determine benefit obligations at October 31: | ' | ' | ' |
Discount rate | 4.80% | 3.85% | 4.50% |
Health care cost trend rate | 4.12% | 4.90% | 9.36% |
Rate to which health care cost trend rate is assumed to decline (ultimate trend rate) | 3.47% | 3.60% | 5.00% |
Year the rate reaches the ultimate trend rate | '2021 | '2017 | '2016 |
Assumption used to determine net benefit costs for the years ended October 31: | ' | ' | ' |
Discount rate | 3.85% | 4.50% | 5.25% |
Postretirement Benefit Plans, International [Member] | ' | ' | ' |
Assumptions used to determine benefit obligations at October 31: | ' | ' | ' |
Discount rate | 4.95% | 4.40% | 5.85% |
Health care cost trend rate | 6.65% | 6.83% | 7.00% |
Rate to which health care cost trend rate is assumed to decline (ultimate trend rate) | 3.50% | 3.50% | 3.50% |
Year the rate reaches the ultimate trend rate | '2031 | '2031 | '2031 |
Assumption used to determine net benefit costs for the years ended October 31: | ' | ' | ' |
Discount rate | 4.40% | 5.85% | 5.75% |
Retirement_Pension_and_Other_P8
Retirement, Pension and Other Postretirement Plans - The Effect of a One Percent Change in the Discount Rate, Expected Return on Assets and Compensation Increase (Detail) (USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Oct. 31, 2013 |
Pension Plan, United States [Member] | Discount Rate [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
Defined benefit plan effect of 1% point decrease on service and interest cost | $5,207 |
Defined benefit plan effect of 1% point decrease on pension obligation | 42,756 |
Defined benefit plan effect of 1% point increase on service and interest cost | -4,340 |
Defined benefit plan effect of 1% point increase on pension obligation | -34,718 |
Pension Plan, United States [Member] | Expected Return on Assets [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
Defined benefit plan effect of 1% point decrease on service and interest cost | 2,019 |
Defined benefit plan effect of 1% point decrease on pension obligation | ' |
Defined benefit plan effect of 1% point increase on service and interest cost | -2,019 |
Defined benefit plan effect of 1% point increase on pension obligation | ' |
Pension Plan, United States [Member] | Compensation Increase [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
Defined benefit plan effect of 1% point decrease on service and interest cost | -2,967 |
Defined benefit plan effect of 1% point decrease on pension obligation | -12,619 |
Defined benefit plan effect of 1% point increase on service and interest cost | 3,580 |
Defined benefit plan effect of 1% point increase on pension obligation | 14,832 |
Pension Plan, International [Member] | Discount Rate [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
Defined benefit plan effect of 1% point decrease on service and interest cost | 1,343 |
Defined benefit plan effect of 1% point decrease on pension obligation | 17,606 |
Defined benefit plan effect of 1% point increase on service and interest cost | -1,052 |
Defined benefit plan effect of 1% point increase on pension obligation | -13,572 |
Pension Plan, International [Member] | Expected Return on Assets [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
Defined benefit plan effect of 1% point decrease on service and interest cost | 348 |
Defined benefit plan effect of 1% point decrease on pension obligation | ' |
Defined benefit plan effect of 1% point increase on service and interest cost | -348 |
Defined benefit plan effect of 1% point increase on pension obligation | ' |
Pension Plan, International [Member] | Compensation Increase [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
Defined benefit plan effect of 1% point decrease on service and interest cost | -726 |
Defined benefit plan effect of 1% point decrease on pension obligation | -5,300 |
Defined benefit plan effect of 1% point increase on service and interest cost | 869 |
Defined benefit plan effect of 1% point increase on pension obligation | $6,039 |
Retirement_Pension_and_Other_P9
Retirement, Pension and Other Postretirement Plans - Allocation of Pension Plan Assets (Detail) | Oct. 31, 2013 | Oct. 31, 2012 |
Pension Plan, United States [Member] | ' | ' |
Allocation of pension plan assets | ' | ' |
Defined Benefit Plan, Actual Plan Asset Allocations | 100.00% | 100.00% |
Pension Plan, United States [Member] | Equity Securities [Member] | ' | ' |
Allocation of pension plan assets | ' | ' |
Defined Benefit Plan, Actual Plan Asset Allocations | 27.00% | 37.00% |
Pension Plan, United States [Member] | Debt Securities [Member] | ' | ' |
Allocation of pension plan assets | ' | ' |
Defined Benefit Plan, Actual Plan Asset Allocations | 29.00% | 20.00% |
Pension Plan, United States [Member] | Insurance Contracts [Member] | ' | ' |
Allocation of pension plan assets | ' | ' |
Defined Benefit Plan, Actual Plan Asset Allocations | ' | ' |
Pension Plan, United States [Member] | Pooled Investment Funds [Member] | ' | ' |
Allocation of pension plan assets | ' | ' |
Defined Benefit Plan, Actual Plan Asset Allocations | 43.00% | 42.00% |
Pension Plan, United States [Member] | Other [Member] | ' | ' |
Allocation of pension plan assets | ' | ' |
Defined Benefit Plan, Actual Plan Asset Allocations | 1.00% | 1.00% |
Pension Plan, International [Member] | ' | ' |
Allocation of pension plan assets | ' | ' |
Defined Benefit Plan, Actual Plan Asset Allocations | 100.00% | 100.00% |
Pension Plan, International [Member] | Equity Securities [Member] | ' | ' |
Allocation of pension plan assets | ' | ' |
Defined Benefit Plan, Actual Plan Asset Allocations | ' | ' |
Pension Plan, International [Member] | Debt Securities [Member] | ' | ' |
Allocation of pension plan assets | ' | ' |
Defined Benefit Plan, Actual Plan Asset Allocations | ' | ' |
Pension Plan, International [Member] | Insurance Contracts [Member] | ' | ' |
Allocation of pension plan assets | ' | ' |
Defined Benefit Plan, Actual Plan Asset Allocations | 60.00% | 56.00% |
Pension Plan, International [Member] | Pooled Investment Funds [Member] | ' | ' |
Allocation of pension plan assets | ' | ' |
Defined Benefit Plan, Actual Plan Asset Allocations | 39.00% | 43.00% |
Pension Plan, International [Member] | Other [Member] | ' | ' |
Allocation of pension plan assets | ' | ' |
Defined Benefit Plan, Actual Plan Asset Allocations | 1.00% | 1.00% |
Recovered_Sheet1
Retirement, Pension and Other Postretirement Plans - Fair Values of Pension Plan Assets (Detail) (USD $) | Oct. 31, 2013 | Oct. 31, 2012 | Oct. 31, 2011 |
In Thousands, unless otherwise specified | |||
Pension Plan, United States [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | $243,506 | $214,128 | $184,701 |
Pension Plan, United States [Member] | Level 1 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 78,675 | 82,427 | ' |
Pension Plan, United States [Member] | Level 2 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 149,873 | 118,591 | ' |
Pension Plan, United States [Member] | Level 3 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 14,958 | 13,110 | ' |
Pension Plan, United States [Member] | Cash [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 2,811 | 1,346 | ' |
Pension Plan, United States [Member] | Cash [Member] | Level 1 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 2,811 | 1,346 | ' |
Pension Plan, United States [Member] | Money Market Funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 2,783 | 2,114 | ' |
Pension Plan, United States [Member] | Money Market Funds [Member] | Level 1 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 2,783 | 2,114 | ' |
Pension Plan, United States [Member] | Equity Securities Basic Materials [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 3,834 | 5,849 | ' |
Pension Plan, United States [Member] | Equity Securities Basic Materials [Member] | Level 1 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 3,834 | 5,849 | ' |
Pension Plan, United States [Member] | Equity Securities Consumer Goods [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 4,958 | 7,359 | ' |
Pension Plan, United States [Member] | Equity Securities Consumer Goods [Member] | Level 1 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 4,958 | 7,359 | ' |
Pension Plan, United States [Member] | Equity Securities Financial [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 7,825 | 9,190 | ' |
Pension Plan, United States [Member] | Equity Securities Financial [Member] | Level 1 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 7,825 | 9,190 | ' |
Pension Plan, United States [Member] | Equity Securities Healthcare [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 4,109 | 4,891 | ' |
Pension Plan, United States [Member] | Equity Securities Healthcare [Member] | Level 1 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 4,109 | 4,891 | ' |
Pension Plan, United States [Member] | Equity Securities Industrial Goods [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 3,255 | 3,174 | ' |
Pension Plan, United States [Member] | Equity Securities Industrial Goods [Member] | Level 1 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 3,255 | 3,174 | ' |
Pension Plan, United States [Member] | Equity Securities Technology [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 4,159 | 4,581 | ' |
Pension Plan, United States [Member] | Equity Securities Technology [Member] | Level 1 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 4,159 | 4,581 | ' |
Pension Plan, United States [Member] | Equity Securities Utilities [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 988 | 1,491 | ' |
Pension Plan, United States [Member] | Equity Securities Utilities [Member] | Level 1 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 988 | 1,491 | ' |
Pension Plan, United States [Member] | Mutual Funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 32,617 | 39,900 | ' |
Pension Plan, United States [Member] | Mutual Funds [Member] | Level 1 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 32,617 | 39,900 | ' |
Pension Plan, United States [Member] | US Government Debt Securities [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 26,892 | 17,697 | ' |
Pension Plan, United States [Member] | US Government Debt Securities [Member] | Level 1 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 10,715 | 1,784 | ' |
Pension Plan, United States [Member] | US Government Debt Securities [Member] | Level 2 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 16,177 | 15,913 | ' |
Pension Plan, United States [Member] | Corporate Debt Securities [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 43,367 | 24,865 | ' |
Pension Plan, United States [Member] | Corporate Debt Securities [Member] | Level 2 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 43,367 | 24,865 | ' |
Pension Plan, United States [Member] | Other Debt Obligations [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 1,356 | 593 | ' |
Pension Plan, United States [Member] | Other Debt Obligations [Member] | Level 2 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 1,356 | 593 | ' |
Pension Plan, United States [Member] | Other Type of Investments Real Estate Collective Funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 14,958 | 13,110 | ' |
Pension Plan, United States [Member] | Other Type of Investments Real Estate Collective Funds [Member] | Level 3 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 14,958 | 13,110 | ' |
Pension Plan, United States [Member] | Other Type of Investments Pooled Investment Funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 88,973 | 77,220 | ' |
Pension Plan, United States [Member] | Other Type of Investments Pooled Investment Funds [Member] | Level 2 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 88,973 | 77,220 | ' |
Pension Plan, United States [Member] | Other Type of Investments Other [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 621 | 748 | ' |
Pension Plan, United States [Member] | Other Type of Investments Other [Member] | Level 1 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 621 | 748 | ' |
Pension Plan, International [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 37,078 | 34,217 | 32,167 |
Pension Plan, International [Member] | Level 1 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 321 | 323 | ' |
Pension Plan, International [Member] | Level 2 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 14,664 | 14,848 | ' |
Pension Plan, International [Member] | Level 3 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 22,093 | 19,046 | ' |
Pension Plan, International [Member] | Cash [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 321 | 323 | ' |
Pension Plan, International [Member] | Cash [Member] | Level 1 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 321 | 323 | ' |
Pension Plan, International [Member] | Other Type of Investments Insurance Contract [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 22,093 | 19,046 | ' |
Pension Plan, International [Member] | Other Type of Investments Insurance Contract [Member] | Level 3 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 22,093 | 19,046 | ' |
Pension Plan, International [Member] | Other Type of Investments Pooled Investment Funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 14,664 | 14,848 | ' |
Pension Plan, International [Member] | Other Type of Investments Pooled Investment Funds [Member] | Level 2 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | $14,664 | $14,848 | ' |
Recovered_Sheet2
Retirement, Pension and Other Postretirement Plans - Changes in Level 3 plan assets (Detail) (Level 3 [Member], Components of Net Periodic Pension Cost [Member], USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Oct. 31, 2013 | Oct. 31, 2012 |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Beginning balance | $32,156 | $18,501 |
Assets held, end of year | 2,995 | 1,949 |
Assets sold during the period | 13 | 2 |
Purchases | 4,242 | 14,311 |
Sales | -2,228 | -2,183 |
Foreign currency translation | -127 | -424 |
Ending balance | 37,051 | 32,156 |
Other Type of Investments Real Estate Collective Funds [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Beginning balance | 13,110 | ' |
Assets held, end of year | 1,970 | 1,169 |
Assets sold during the period | 13 | 2 |
Purchases | ' | 12,000 |
Sales | -135 | -61 |
Ending balance | 14,958 | 13,110 |
Other Type of Investments Insurance Contract [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Beginning balance | 19,046 | 18,501 |
Assets held, end of year | 1,025 | 780 |
Purchases | 4,242 | 2,311 |
Sales | -2,093 | -2,122 |
Foreign currency translation | -127 | -424 |
Ending balance | $22,093 | $19,046 |
Recovered_Sheet3
Retirement, Pension and Other Postretirement Plans - Retiree Pension Benefit Payments (Detail) (USD $) | Oct. 31, 2013 |
In Thousands, unless otherwise specified | |
Pension Plan, United States [Member] | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' |
2014 | $10,905 |
2015 | 11,888 |
2016 | 12,885 |
2017 | 14,131 |
2018 | 15,228 |
2019-2023 | 93,560 |
Pension Plan, International [Member] | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' |
2014 | 3,659 |
2015 | 2,539 |
2016 | 2,159 |
2017 | 1,998 |
2018 | 2,857 |
2019-2023 | 18,777 |
Postretirement Benefit Plans, United States [Member] | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' |
2014 | 1,974 |
2015 | 2,254 |
2016 | 2,490 |
2017 | 2,747 |
2018 | 2,965 |
2019-2023 | 17,767 |
Postretirement Benefit Plans, International [Member] | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' |
2014 | 4 |
2015 | 11 |
2016 | 12 |
2017 | 13 |
2018 | 16 |
2019-2023 | $117 |
Recovered_Sheet4
Retirement Pension and Other Postretirement Plans - Defined Benefit Plan Effect of One Percentage Point Change in Assumed Health Care Cost Trend Rates and Discount Rate (Detail) (USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Oct. 31, 2013 |
Postretirement Benefit Plans, United States [Member] | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' |
Effect on total service and interest cost components increase in 2013 | ($758) |
Effect on postretirement obligation increase as of October 31, 2013 | -7,945 |
Effect on total service and interest cost components increase in 2013 | 630 |
Effect on postretirement obligation increase as of October 31, 2013 | 8,907 |
Effect on total service and interest cost components decrease in 2013 | 911 |
Effect on postretirement obligation decrease as of October 31, 2013 | 9,886 |
Effect on total service and interest cost components decrease in 2013 | -508 |
Effect on postretirement obligation decrease as of October 31, 2013 | -7,286 |
Postretirement Benefit Plans, International [Member] | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' |
Effect on total service and interest cost components increase in 2013 | -20 |
Effect on postretirement obligation increase as of October 31, 2013 | -138 |
Effect on total service and interest cost components increase in 2013 | 17 |
Effect on postretirement obligation increase as of October 31, 2013 | 172 |
Effect on total service and interest cost components decrease in 2013 | 11 |
Effect on postretirement obligation decrease as of October 31, 2013 | 181 |
Effect on total service and interest cost components decrease in 2013 | -13 |
Effect on postretirement obligation decrease as of October 31, 2013 | ($135) |
Income_Taxes_Income_Tax_Expens
Income Taxes - Income Tax Expense (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Oct. 31, 2013 | Oct. 31, 2012 | Oct. 31, 2011 |
Current: | ' | ' | ' |
U.S. federal | $45,004 | $51,458 | $53,983 |
State and local | 2,351 | 1,378 | 2,029 |
Foreign | 36,829 | 38,760 | 35,469 |
Total current | 84,184 | 91,596 | 91,481 |
Deferred: | ' | ' | ' |
U.S. federal | 8,361 | 7,204 | 1,851 |
State and local | -991 | 782 | 23 |
Foreign | -2,248 | 1,842 | -1,158 |
Total deferred | 5,122 | 9,828 | 716 |
Total income tax expense | $89,306 | $101,424 | $92,197 |
Income_Taxes_Additional_Inform
Income Taxes - Additional Information (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||
In Thousands, unless otherwise specified | Jan. 31, 2013 | Oct. 31, 2013 | Oct. 31, 2012 | Oct. 31, 2011 | Nov. 01, 2010 |
Income Tax [Line Items] | ' | ' | ' | ' | ' |
Earnings before income taxes of domestic operations | ' | $164,702 | $177,035 | $181,258 | ' |
Unrecognized tax benefits | 900 | 1,070 | 480 | ' | ' |
Additional tax benefit relating to retroactive reinstatement of research credit | 1,700 | 1,700 | ' | 1,580 | ' |
Income tax expense benefit related to the utilization of loss carryforwards | ' | ' | 2,717 | 682 | ' |
Favorable adjustment related to settlement with tax authorities | ' | ' | 0 | 2,027 | ' |
Earnings before income taxes of international operations | ' | 146,421 | 149,218 | 133,303 | ' |
Undistributed earnings aggregated | ' | 510,842 | 400,487 | ' | ' |
Total unrecognized tax benefits | ' | 5,717 | 3,140 | 2,576 | 4,078 |
Total unrecognized tax benefits impact the effective tax rate | ' | 5,178 | 2,601 | ' | ' |
Accrued interest expense related to unrecognized tax benefits | ' | 1,085 | 304 | ' | ' |
Tax credit carryforwards | ' | 1,498 | ' | ' | ' |
Tax credit carryforwards which will expire in 2014 through 2525 | ' | 122 | ' | ' | ' |
Indefinite tax credit carryforward amount | ' | 1,376 | ' | ' | ' |
Operating loss carryforwards | ' | 68,658 | ' | ' | ' |
Indefinite carryforward period | ' | 10,608 | ' | ' | ' |
Net change in the valuation allowance | ' | 617 | 1,005 | ' | ' |
Valuation allowance relates to tax credits and loss carryforwards | ' | 5,663 | ' | ' | ' |
Foreign [Member] | ' | ' | ' | ' | ' |
Income Tax [Line Items] | ' | ' | ' | ' | ' |
Unrecognized tax benefits | ' | 900 | ' | ' | ' |
Operating loss carryforwards | ' | 10,980 | ' | ' | ' |
Federal [Member] | ' | ' | ' | ' | ' |
Income Tax [Line Items] | ' | ' | ' | ' | ' |
Operating loss carryforwards | ' | 16,939 | ' | ' | ' |
State [Member] | ' | ' | ' | ' | ' |
Income Tax [Line Items] | ' | ' | ' | ' | ' |
Operating loss carryforwards | ' | 51,347 | ' | ' | ' |
Minimum [Member] | ' | ' | ' | ' | ' |
Income Tax [Line Items] | ' | ' | ' | ' | ' |
Decrease in unrecognized tax benefits | ' | 0 | ' | ' | ' |
Maximum [Member] | ' | ' | ' | ' | ' |
Income Tax [Line Items] | ' | ' | ' | ' | ' |
Decrease in unrecognized tax benefits | ' | $470 | ' | ' | ' |
Income_Taxes_Income_Taxes_Comp
Income Taxes - Income Taxes Computed at the U.S. Statutory Rate and Income Tax (Detail) | 12 Months Ended | ||
Oct. 31, 2013 | Oct. 31, 2012 | Oct. 31, 2011 | |
Income Tax Disclosure [Abstract] | ' | ' | ' |
Statutory federal income tax rate | 35.00% | 35.00% | 35.00% |
Domestic Production Deduction | -1.71% | -1.82% | -1.76% |
Foreign tax rate variances, net of foreign tax credits | -3.39% | -2.31% | -2.51% |
State and local taxes, net of federal income tax benefit | 0.28% | 0.43% | 0.42% |
Amounts related to prior years | -1.00% | -0.31% | -1.31% |
Other - net | -0.48% | 0.10% | -0.53% |
Effective tax rate | 28.70% | 31.09% | 29.31% |
Income_Taxes_Unrecognized_Tax_
Income Taxes - Unrecognized Tax Benefits (Detail) (USD $) | 3 Months Ended | 12 Months Ended | ||
In Thousands, unless otherwise specified | Jan. 31, 2013 | Oct. 31, 2013 | Oct. 31, 2012 | Oct. 31, 2011 |
Income Tax Disclosure [Abstract] | ' | ' | ' | ' |
Balance at beginning of year | $3,140 | $3,140 | $2,576 | $4,078 |
Additions based on tax positions related to the current year | ' | 703 | 148 | 387 |
Additions for tax positions of prior years | ' | 3,261 | 896 | 138 |
Reductions for tax positions of prior years | ' | -317 | ' | ' |
Settlements | ' | ' | 0 | -2,027 |
Lapse of statute of limitations | -900 | -1,070 | -480 | ' |
Balance at end of year | ' | $5,717 | $3,140 | $2,576 |
Income_Taxes_Significant_Compo
Income Taxes - Significant Components of Deferred Tax Assets and Liabilities (Detail) (USD $) | Oct. 31, 2013 | Oct. 31, 2012 |
In Thousands, unless otherwise specified | ||
Deferred tax assets: | ' | ' |
Employee benefits | $66,148 | $90,707 |
Other accruals not currently deductible for taxes | 16,984 | 16,105 |
Tax credit and loss carryforwards | 13,077 | 17,145 |
Inventory adjustments | 4,998 | 5,278 |
Translation of foreign currency accounts | 384 | 929 |
Total deferred tax assets | 101,591 | 130,164 |
Valuation allowance | -5,663 | -5,046 |
Total deferred tax assets | 95,928 | 125,118 |
Deferred tax liabilities: | ' | ' |
Depreciation and amortization | 146,500 | 121,348 |
Other - net | 51 | ' |
Total deferred tax liabilities | 146,551 | 121,348 |
Net deferred tax assets (liabilities) | ($50,623) | $3,770 |
Notes_Payable_Bank_Lines_of_Cr
Notes Payable - Bank Lines of Credit and Notes (Detail) (USD $) | Oct. 31, 2013 | Oct. 31, 2012 |
In Thousands, unless otherwise specified | ||
Short-term Debt [Line Items] | ' | ' |
Maximum borrowings under bank lines of credit | $83,191 | $90,260 |
Outstanding notes payable | 3,604 | 50,001 |
Weighted-average interest rate on notes payable | 2.00% | 1.10% |
Unused bank lines of credit | 79,587 | 40,259 |
Domestic Bank Debt [Member] | ' | ' |
Short-term Debt [Line Items] | ' | ' |
Maximum borrowings under bank lines of credit | ' | 50,000 |
Outstanding notes payable | ' | 50,000 |
Foreign Bank Debt [Member] | ' | ' |
Short-term Debt [Line Items] | ' | ' |
Maximum borrowings under bank lines of credit | 83,191 | 40,260 |
Outstanding notes payable | $3,604 | $1 |
Notes_Payable_Additional_Infor
Notes Payable - Additional Information (Detail) (USD $) | Oct. 31, 2013 | Oct. 31, 2012 | Oct. 31, 2013 | Oct. 31, 2012 | Oct. 31, 2012 |
In Thousands, unless otherwise specified | Domestic Bank Debt [Member] | Domestic Bank Debt [Member] | Domestic Bank Debt [Member] | ||
PNC Bank [Member] | |||||
Short-term Debt [Line Items] | ' | ' | ' | ' | ' |
Domestic bank agreement days | ' | ' | ' | ' | '364 days |
Maximum borrowings under bank lines of credit | $83,191 | $90,260 | ' | $50,000 | $250,000 |
Maximum amount borrowed under bank lines of credit | ' | ' | ' | ' | 250,000 |
Line of Credit Facility, Decrease, Repayments | ' | ' | ' | ' | 200,000 |
Agreement amount with PNC Bank Outstanding | ' | ' | ' | ' | $50,000 |
Longterm_Debt_Longterm_Debt_De
Long-term Debt - Long-term Debt (Detail) (USD $) | Oct. 31, 2013 | Oct. 31, 2012 |
In Thousands, unless otherwise specified | ||
Debt Instrument [Line Items] | ' | ' |
Long-term Debt | $648,990 | $583,709 |
Less current maturities | 10,832 | 55,668 |
Long-term maturities | 638,158 | 528,041 |
Revolving Credit Agreement, Due 2017 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long-term Debt | 254,000 | 262,450 |
Senior Notes, Due 2017-2025 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long-term Debt | 200,000 | 200,000 |
Euro Loan, Due 2016 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long-term Debt | 129,058 | ' |
Private Shelf Facility, Due 2012-2020 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long-term Debt | 63,889 | 69,445 |
Senior Note, Due 2013 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long-term Debt | ' | 50,000 |
Development Loans, Due 2011-2026 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long-term Debt | 1,702 | 1,814 |
Other [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long-term Debt | $341 | ' |
LongTerm_Debt_Additional_infor
Long-Term Debt - Additional information (Detail) (USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Oct. 31, 2013 |
Debt Instrument [Line Items] | ' |
Annual maturity of long term debt, 2014 | $10,832 |
Annual maturity of long term debt, 2015 | 10,757 |
Annual maturity of long term debt, 2016 | 139,822 |
Annual maturity of long term debt, 2017 | 292,095 |
Annual maturity of long term debt, 2018 | 26,587 |
Revolving Credit Agreement for 2017 [Member] | ' |
Debt Instrument [Line Items] | ' |
Revolving credit facility | 500,000 |
Weighted average interest for borrowings | 1.06% |
Revolving credit facility expiration | '2016-12 |
Senior Notes, Due 2017-2025 [Member] | ' |
Debt Instrument [Line Items] | ' |
Weighted average interest for borrowings | 2.93% |
Weighted average life of notes | '8 years 9 months 11 days |
Euro Bank Accounts [Member] | ' |
Debt Instrument [Line Items] | ' |
Extension of loan duration | '1 year |
Extension of loan with Bank of Tokyo-Mitsubishi UFJ | 'extended by one year at the end of the third and fourth anniversaries |
Interest rate based on LIBOR rate | 0.99% |
Private Shelf Facility, Due 2012-2020 [Member] | ' |
Debt Instrument [Line Items] | ' |
Value of agreement with New York Life Investment Management LLC | 150,000 |
Fixed interest rate | 2.21% |
Period of agreement | '3 years |
Maximum life of borrowings | '12 years |
Average life of borrowings | '10 years |
Increase in facility amount | $175,000 |
Senior Note, Due 2013 [Member] | ' |
Debt Instrument [Line Items] | ' |
Fixed interest rate | 4.98% |
Loans Payable with State of Ohio [Member] | ' |
Debt Instrument [Line Items] | ' |
Fixed interest rate | 3.00% |
Duration of repayment | '15 years |
Cuyahoga County [Member] | ' |
Debt Instrument [Line Items] | ' |
Fixed interest rate | 3.50% |
Duration of repayment | '15 years |
Leases_Additional_Information_
Leases - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Oct. 31, 2013 | Oct. 31, 2012 | Oct. 31, 2011 |
Leases [Abstract] | ' | ' | ' |
Rent expense for all operating leases | $14,835 | $13,822 | $12,292 |
Leases_Assets_Held_Under_Capit
Leases - Assets Held Under Capitalized Leases and Included in Property, Plant and Equipment (Detail) (USD $) | Oct. 31, 2013 | Oct. 31, 2012 |
In Thousands, unless otherwise specified | ||
Leases [Abstract] | ' | ' |
Transportation equipment | $16,261 | $15,697 |
Other | 10,577 | 8,145 |
Total capitalized leases | 26,838 | 23,842 |
Accumulated amortization | -10,805 | -7,614 |
Net capitalized leases | $16,033 | $16,228 |
Leases_Future_Minimum_Lease_Pa
Leases - Future Minimum Lease Payments Under Noncancelable Capitalized and Operating Leases (Detail) (USD $) | Oct. 31, 2013 | Oct. 31, 2012 |
In Thousands, unless otherwise specified | ||
Leases [Abstract] | ' | ' |
2014 | $7,298 | ' |
2015 | 4,819 | ' |
2016 | 2,446 | ' |
2017 | 667 | ' |
2018 | 403 | ' |
Later years | 4,806 | ' |
Total minimum lease payments | 20,439 | ' |
Less amount representing executory costs | 3,114 | ' |
Net minimum lease payments | 17,325 | ' |
Less amount representing interest | 1,692 | ' |
Present value of net minimum lease payments | 15,633 | ' |
Less current portion | 5,521 | 4,948 |
Long-term obligations at October 31, 2013 | 10,112 | 10,945 |
2014 | 12,321 | ' |
2015 | 7,506 | ' |
2016 | 5,478 | ' |
2017 | 4,527 | ' |
2018 | 3,292 | ' |
Later years | 10,289 | ' |
Total minimum lease payments | $43,413 | ' |
Severance_and_Restructuring_Co1
Severance and Restructuring Costs - Additional Information (Detail) (USD $) | 3 Months Ended | 12 Months Ended | ||
In Thousands, unless otherwise specified | Apr. 30, 2012 | Oct. 31, 2013 | Oct. 31, 2012 | Oct. 31, 2011 |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' |
Payments of expense made | ' | $784 | ' | ' |
Cost of sales restructuring | 2,040 | ' | 2,040 | ' |
Gain (loss) on sale of facility | ' | 1,879 | 638 | -362 |
Advanced Technology Systems Segment [Member] | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' |
Severance costs | ' | 811 | ' | ' |
Adhesive Dispensing Systems [Member] | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' |
Severance costs | ' | 315 | ' | ' |
Industrial Coating Systems [Member] | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' |
Severance costs | ' | ' | 690 | ' |
Adhesive Dispensing Systems Georgia Operations [Member] | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' |
Severance costs | ' | ' | 769 | 1,557 |
Payments of expense made | ' | ' | 2,326 | ' |
Severance costs and other termination fees associated with the restructuring incurred to date | ' | ' | 2,326 | ' |
Expenses related to production inefficiencies and moving costs | ' | ' | 2,916 | ' |
Cost of sales restructuring | ' | ' | 2,040 | ' |
Recorded severance and restructuring costs | ' | ' | 876 | ' |
Assets held for sale measured on non recurring basis | ' | ' | ' | 4,150 |
Number of facilities | ' | ' | ' | 2 |
Impairment charges | ' | ' | ' | 1,322 |
Gain (loss) on sale of facility | ' | ' | 830 | ' |
Adhesive Dispensing Systems Germany [Member] | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' |
Severance costs | ' | ' | 177 | 32 |
Payments of expense made | ' | ' | 206 | ' |
Severance costs and other termination fees associated with the restructuring incurred to date | ' | ' | 209 | ' |
Assets held for sale measured on non recurring basis | ' | ' | ' | 932 |
Impairment charges | ' | ' | ' | 489 |
Gain (loss) on sale of facility | ' | ' | ($117) | ' |
Fair_Value_Measurements_Schedu
Fair Value Measurements - Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) (USD $) | Oct. 31, 2013 | Oct. 31, 2012 |
In Thousands, unless otherwise specified | ||
Liabilities: | ' | ' |
Foreign currency forward contracts | $2,313 | $671 |
Recurring [Member] | ' | ' |
Assets: | ' | ' |
Rabbi trust | 13,611 | ' |
Foreign currency forward contracts | 3,493 | ' |
Total assets at fair value | 17,104 | ' |
Liabilities: | ' | ' |
Deferred compensation plans | 7,322 | ' |
Foreign currency forward contracts | 1,180 | ' |
Total liabilities at fair value | 8,502 | ' |
Recurring [Member] | Level 1 [Member] | ' | ' |
Assets: | ' | ' |
Rabbi trust | ' | ' |
Foreign currency forward contracts | ' | ' |
Total assets at fair value | ' | ' |
Liabilities: | ' | ' |
Deferred compensation plans | 7,322 | ' |
Foreign currency forward contracts | ' | ' |
Total liabilities at fair value | 7,322 | ' |
Recurring [Member] | Level 2 [Member] | ' | ' |
Assets: | ' | ' |
Rabbi trust | 13,611 | ' |
Foreign currency forward contracts | 3,493 | ' |
Total assets at fair value | 17,104 | ' |
Liabilities: | ' | ' |
Deferred compensation plans | ' | ' |
Foreign currency forward contracts | 1,180 | ' |
Total liabilities at fair value | 1,180 | ' |
Recurring [Member] | Level 3 [Member] | ' | ' |
Assets: | ' | ' |
Rabbi trust | ' | ' |
Foreign currency forward contracts | ' | ' |
Total assets at fair value | ' | ' |
Liabilities: | ' | ' |
Deferred compensation plans | ' | ' |
Foreign currency forward contracts | ' | ' |
Total liabilities at fair value | ' | ' |
Fair_Value_Measurements_Schedu1
Fair Value Measurements - Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis (Parenthetical) (Detail) | 12 Months Ended |
Oct. 31, 2013 | |
Fair Value Disclosures [Abstract] | ' |
Executive officers and other highly compensated employees salary and annual cash incentive compensation deferrals percentage, maximum | 100.00% |
Executive officers long-term incentive compensation deferrals percentage, maximum | 90.00% |
Financial_Instruments_Addition
Financial Instruments - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Oct. 31, 2013 | Oct. 31, 2012 | Oct. 31, 2011 |
Offsetting [Abstract] | ' | ' | ' |
Maturity of foreign currency forward contracts | '90 days | ' | ' |
Gains (loss) on foreign exchange contracts | $1,437 | $294 | ($11,277) |
Gains (losses) in fair value of balance sheet positions denominated in foreign currencies | -3,651 | -1,310 | 13,477 |
Gain (Loss) on Derivative Used in Net Investment Hedge, Net of Tax | $699 | $240 | ' |
Financial_Instruments_Outstand
Financial Instruments - Outstanding Foreign Currency Forward Contracts (Detail) (USD $) | Oct. 31, 2013 | Oct. 31, 2012 |
In Thousands, unless otherwise specified | ||
Derivative [Line Items] | ' | ' |
Notional Amounts of foreign currency derivative sale contracts | $232,609 | $14,269 |
Fair Market Value of foreign currency derivative sale contracts | 232,227 | 14,230 |
Notional Amounts of foreign currency derivative purchase contracts | 254,160 | 177,227 |
Fair Market Value of foreign currency derivative purchase contracts | 256,133 | 177,859 |
Euro [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Notional Amounts of foreign currency derivative sale contracts | 194,531 | 3,186 |
Fair Market Value of foreign currency derivative sale contracts | 194,187 | 3,220 |
Notional Amounts of foreign currency derivative purchase contracts | 131,198 | 95,370 |
Fair Market Value of foreign currency derivative purchase contracts | 131,825 | 95,769 |
Pound Sterling [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Notional Amounts of foreign currency derivative sale contracts | 17,854 | ' |
Fair Market Value of foreign currency derivative sale contracts | 17,856 | ' |
Notional Amounts of foreign currency derivative purchase contracts | 29,441 | 28,771 |
Fair Market Value of foreign currency derivative purchase contracts | 29,950 | 28,959 |
Japanese Yen [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Notional Amounts of foreign currency derivative sale contracts | 11,426 | 5,810 |
Fair Market Value of foreign currency derivative sale contracts | 11,404 | 5,766 |
Notional Amounts of foreign currency derivative purchase contracts | 8,686 | 15,643 |
Fair Market Value of foreign currency derivative purchase contracts | 8,672 | 15,465 |
Australian Dollar [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Notional Amounts of foreign currency derivative sale contracts | 894 | 515 |
Fair Market Value of foreign currency derivative sale contracts | 899 | 519 |
Notional Amounts of foreign currency derivative purchase contracts | 8,653 | 9,131 |
Fair Market Value of foreign currency derivative purchase contracts | 8,986 | 9,156 |
Hong Kong Dollar [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Notional Amounts of foreign currency derivative sale contracts | 1,935 | ' |
Fair Market Value of foreign currency derivative sale contracts | 1,935 | ' |
Notional Amounts of foreign currency derivative purchase contracts | 42,140 | ' |
Fair Market Value of foreign currency derivative purchase contracts | 42,132 | ' |
Singapore Dollar [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Notional Amounts of foreign currency derivative sale contracts | 201 | ' |
Fair Market Value of foreign currency derivative sale contracts | 201 | ' |
Notional Amounts of foreign currency derivative purchase contracts | 9,815 | 8,626 |
Fair Market Value of foreign currency derivative purchase contracts | 10,065 | 8,681 |
Others [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Notional Amounts of foreign currency derivative sale contracts | 5,768 | 4,758 |
Fair Market Value of foreign currency derivative sale contracts | 5,745 | 4,725 |
Notional Amounts of foreign currency derivative purchase contracts | 24,227 | 19,686 |
Fair Market Value of foreign currency derivative purchase contracts | $24,503 | $19,829 |
Financial_Instruments_Carrying
Financial Instruments - Carrying Amounts and Fair Values of Financial Instruments, Other than Receivables and Accounts Payable (Detail) (USD $) | Oct. 31, 2013 | Oct. 31, 2012 | Oct. 31, 2011 | Nov. 01, 2010 |
In Thousands, unless otherwise specified | ||||
Schedule Of Carrying Amounts And Fair Values Of Financial Instruments [Abstract] | ' | ' | ' | ' |
Cash and cash equivalents | $42,375 | $41,239 | $37,408 | $42,329 |
Marketable securities | ' | 279 | ' | ' |
Notes payable | 3,604 | 50,001 | ' | ' |
Long-term debt (including current portion) | 648,990 | 583,709 | ' | ' |
Foreign currency forward contracts (net) | 2,313 | 671 | ' | ' |
Cash and cash equivalents | 42,375 | 41,239 | ' | ' |
Marketable securities | ' | 279 | ' | ' |
Notes payable | 3,604 | 50,001 | ' | ' |
Long-term debt (including current portion) | 636,904 | 584,624 | ' | ' |
Foreign currency forward contracts (net) | $2,313 | $671 | ' | ' |
Capital_Shares_Additional_Info
Capital Shares - Additional Information (Detail) (USD $) | Oct. 31, 2013 | Oct. 31, 2012 | Oct. 31, 2011 |
In Thousands, unless otherwise specified | |||
Equity [Line Items] | ' | ' | ' |
Convertible preferred shares, authorized | 10,000 | 10,000 | ' |
Convertible preferred shares, No par value | ' | ' | ' |
Common shares, authorized | 160,000 | 160,000 | ' |
Common shares, No par value | ' | ' | ' |
Common shares, issued | 98,023 | 98,023 | ' |
Common Shares Outstanding | 64,218 | 64,257 | ' |
Preferred Class A [Member] | ' | ' | ' |
Equity [Line Items] | ' | ' | ' |
Convertible preferred shares, authorized | 10,000 | ' | ' |
Convertible preferred shares, No par value | ' | ' | ' |
Convertible preference shares outstanding | 0 | 0 | 0 |
Capital_Shares_Capital_Shares_
Capital Shares - Capital Shares (Detail) (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Oct. 31, 2013 | Oct. 31, 2012 | Oct. 31, 2011 |
Equity [Abstract] | ' | ' | ' |
Number of Shares | 459 | 1,831 | 3,024 |
Total Amount | $30,443 | $86,022 | $134,163 |
Average per Share | $66.29 | $46.98 | $44.37 |
Stockbased_Compensation_Additi
Stock-based Compensation - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Oct. 31, 2013 | Oct. 31, 2012 | Oct. 31, 2011 |
Y | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Maximum number of common shares available for grant | 2,900 | ' | ' |
Normal retirement age | 65 | ' | ' |
Expense related to director deferred compensation | $183 | $265 | $265 |
Periods of performance considered for calculating compensation expense | '3 years | ' | ' |
Number of common shares reserved for future issuance | 2,657 | ' | ' |
Stock Options [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Maximum rate of stock option, description | 'Not exceeding 25 percent per year | ' | ' |
Maximum rate of stock option | 25.00% | ' | ' |
Option Expiring period | '10 years | ' | ' |
Compensation expense recognized | 4,906 | 3,789 | 2,906 |
Unrecognized compensation cost related to nonvested common shares | 9,631 | ' | ' |
Weighted average period expected to be amortized, non vested shares | '1 year 8 months 12 days | ' | ' |
Weighted-average expected volatility used | 46.30% | 46.20% | 44.30% |
Weighted average grant date fair value of stock options granted | $24.12 | $17.03 | $16.80 |
Total intrinsic value of options exercised | 12,892 | 13,329 | 23,076 |
Cash received from the exercise of stock options | 6,018 | 4,934 | 9,652 |
Tax benefit realized from tax deductions from exercises of stock options | 5,531 | 4,792 | 6,924 |
Restricted Stock [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Unrecognized compensation cost related to nonvested common shares | 1,827 | ' | ' |
Weighted average period expected to be amortized, non vested shares | '1 year 8 months 12 days | ' | ' |
Expense related to nonvested common shares | 2,464 | 1,724 | 1,278 |
Long Term Incentive Compensation Plan [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Periods of performance considered for calculating compensation expense | '3 years | ' | ' |
Weighted average grant date fair value | $59.59 | $42.12 | $42.02 |
Compensation expense charged | 3,588 | 4,235 | 4,067 |
Cumulative amount recorded in shareholders' equity related to Long-Term Incentive Plan | $8,083 | $8,707 | $6,081 |
Stockbased_Compensation_Summar
Stock-based Compensation - Summarized Activity Related to Stock Options (Detail) (Stock Options [Member], USD $) | 12 Months Ended |
In Thousands, except Per Share data, unless otherwise specified | Oct. 31, 2013 |
Stock Options [Member] | ' |
Annual Activity of Stock Option Plans [Line Items] | ' |
Number of Options, Outstanding, Beginning balance | 1,764 |
Number of Options, Granted | 283 |
Number of Options, Exercised | -283 |
Number of Options, Forfeited or expired | -15 |
Number of Options, Outstanding, Ending balance | 1,749 |
Number of Options, Vested or expected to vest | 1,699 |
Number of Options, Exercisable | 942 |
Weighted-Average Exercise Price Per Share, Outstanding, Beginning balance | $28.35 |
Weighted-Average Exercise Price Per Share, Granted | $61.61 |
Weighted-Average Exercise Price Per Share, Exercised | $21.72 |
Weighted-Average Exercise Price Per Share, Forfeited or expired | $48.38 |
Weighted-Average Exercise Price Per Share, Outstanding, Ending balance | $34.63 |
Weighted-Average Exercise Price Per Share, Vested or expected to vest | $34.22 |
Weighted-Average Exercise Price Per Share, Exercisable | $25.07 |
Aggregate Intrinsic Value, Outstanding | $65,492 |
Aggregate Intrinsic Value, Vested or expected to vest | 64,348 |
Aggregate Intrinsic Value, Exercisable | $44,276 |
Weighted Average Remaining Term, Outstanding | '6 years 1 month 6 days |
Weighted Average Remaining Term, Vested or expected to vest | '6 years 1 month 6 days |
Weighted Average Remaining Term, Exercisable | '4 years 8 months 12 days |
Stockbased_Compensation_Summar1
Stock-based Compensation - Summarized Information on Currently Outstanding Options (Detail) (USD $) | 12 Months Ended |
In Thousands, except Per Share data, unless otherwise specified | Oct. 31, 2013 |
Price Range 14 to 20 [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Number outstanding | 452 |
Weighted-average remaining contractual life, in years | '3 years 9 months 18 days |
Weighted-average exercise price | $16.15 |
Number exercisable | 401 |
Weighted-average exercise price | $16.37 |
Price Range 21 to 31 [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Number outstanding | 500 |
Weighted-average remaining contractual life, in years | '5 years |
Weighted-average exercise price | $27.15 |
Number exercisable | 391 |
Weighted-average exercise price | $26.96 |
Price Range 32 to 63 [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Number outstanding | 797 |
Weighted-average remaining contractual life, in years | '8 years 1 month 6 days |
Weighted-average exercise price | $49.82 |
Number exercisable | 150 |
Weighted-average exercise price | $43.47 |
Stockbased_Compensation_Fair_V
Stock-based Compensation - Fair Value Assumptions of Stock Options (Detail) (Stock Options [Member]) | 12 Months Ended | ||
Oct. 31, 2013 | Oct. 31, 2012 | Oct. 31, 2011 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Expected volatility, Minimum | 45.30% | 45.40% | 43.10% |
Expected volatility, Maximum | 46.90% | 46.90% | 45.10% |
Expected dividend yield | ' | 1.20% | 1.28% |
Risk-free interest rate, Minimum | 0.75% | 1.03% | 1.89% |
Risk-free interest rate, Maximum | 0.90% | 1.23% | 2.25% |
Minimum [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Expected dividend yield | 0.97% | ' | ' |
Expected life of the option (in years) | '5 years 4 months 24 days | '5 years 4 months 24 days | '5 years 4 months 24 days |
Maximum [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Expected dividend yield | 1.01% | ' | ' |
Expected life of the option (in years) | '6 years 1 month 6 days | '6 years 1 month 6 days | '6 years 3 months 18 days |
Stockbased_Compensation_Summar2
Stock-based Compensation - Summarized Activity Related to Restricted Stock (Detail) (Restricted Stock [Member], USD $) | 12 Months Ended |
In Thousands, except Per Share data, unless otherwise specified | Oct. 31, 2013 |
Restricted Stock [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Number of Restricted Shares, Beginning balance | 100 |
Number of Restricted Shares, Granted | 36 |
Number of Restricted Shares, Vested | -51 |
Number of Restricted Shares, Forfeited | -3 |
Number of Restricted Shares, Ending balance | 82 |
Weighted-Average Grant Date Fair Value, Restricted Shares, Beginning balance | $40.58 |
Weighted-Average Grant Date Fair Value, Granted | $62.08 |
Weighted-Average Grant Date Fair Value, Vested | $35.85 |
Weighted-Average Grant Date Fair Value, Forfeited | $48.18 |
Weighted-Average Grant Date Fair Value, Restricted Shares, Ending balance | $52.67 |
Stockbased_Compensation_Summar3
Stock-based Compensation - Summarized Activity Related to Director Deferred Compensation Shares (Detail) (Directors [Member], Deferred Compensation Share Equivalent Units [Member], USD $) | 12 Months Ended |
In Thousands, except Per Share data, unless otherwise specified | Oct. 31, 2013 |
Directors [Member] | Deferred Compensation Share Equivalent Units [Member] | ' |
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items] | ' |
Number of Shares, Outstanding, Beginning balance | 200 |
Number of Shares, Deferrals | 1 |
Number of Shares, Restricted stock units vested | 11 |
Number of Shares, Dividend equivalents | 1 |
Number of Shares, Distributions | -65 |
Number of Shares, Outstanding, Ending balance | 148 |
Weighted-Average Grant Date Fair Value Per Share, Beginning balance | $19.44 |
Weighted-Average Grant Date Fair Value Per Share, Deferrals | $69.39 |
Weighted-Average Grant Date Fair Value Per Share, Restricted stock units vested | $45.20 |
Weighted-Average Grant Date Fair Value Per Share, Dividend equivalents | $68.03 |
Weighted-Average Grant Date Fair Value Per Share, Distributions | $17.03 |
Weighted-Average Grant Date Fair Value Per Share, Ending balance | $23.22 |
Operating_Segments_and_Geograp2
Operating Segments and Geographic Area Data - Additional Information (Detail) | 12 Months Ended | ||
Oct. 31, 2013 | Oct. 31, 2012 | Oct. 31, 2011 | |
Segment | |||
Segment Reporting [Abstract] | ' | ' | ' |
Number of operating segments | 3 | ' | ' |
Major customers threshold limit | 'ten percent or more of sales | 'ten percent or more of sales | 'ten percent or more of sales |
Operating_Segments_and_Geograp3
Operating Segments and Geographic Area Data - Reportable Segments (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Oct. 31, 2013 | Jul. 31, 2013 | Apr. 30, 2013 | Jan. 31, 2013 | Oct. 31, 2012 | Jul. 31, 2012 | Apr. 30, 2012 | Jan. 31, 2012 | Oct. 31, 2013 | Oct. 31, 2012 | Oct. 31, 2011 |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net external sales | $410,818 | $402,960 | $382,100 | $347,043 | $438,677 | $379,872 | $315,193 | $275,836 | $1,542,921 | $1,409,578 | $1,233,159 |
Depreciation | ' | ' | ' | ' | ' | ' | ' | ' | 31,766 | 24,469 | 20,758 |
Operating profit | ' | ' | ' | ' | ' | ' | ' | ' | 323,849 | 335,480 | 315,543 |
Identifiable assets | 2,042,289 | ' | ' | ' | 1,829,515 | ' | ' | ' | 2,042,289 | 1,829,515 | 1,304,450 |
Operating Segments [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net external sales | ' | ' | ' | ' | ' | ' | ' | ' | 1,542,921 | 1,409,578 | 1,233,159 |
Depreciation | ' | ' | ' | ' | ' | ' | ' | ' | 31,766 | 24,469 | 20,758 |
Operating profit | ' | ' | ' | ' | ' | ' | ' | ' | 323,849 | 335,480 | 315,543 |
Identifiable assets | 2,042,894 | ' | ' | ' | 1,836,024 | ' | ' | ' | 2,042,894 | 1,836,024 | 1,320,391 |
Expenditures for long-lived assets | ' | ' | ' | ' | ' | ' | ' | ' | 47,219 | 30,959 | 20,239 |
Adhesive Dispensing Systems [Member] | Operating Segments [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net external sales | ' | ' | ' | ' | ' | ' | ' | ' | 793,488 | 684,096 | 611,911 |
Depreciation | ' | ' | ' | ' | ' | ' | ' | ' | 15,638 | 9,532 | 7,087 |
Operating profit | ' | ' | ' | ' | ' | ' | ' | ' | 203,757 | 211,072 | 210,350 |
Identifiable assets | 750,616 | ' | ' | ' | 611,357 | ' | ' | ' | 750,616 | 611,357 | 286,974 |
Expenditures for long-lived assets | ' | ' | ' | ' | ' | ' | ' | ' | 20,498 | 14,612 | 4,477 |
Advanced Technology Systems [Member] | Operating Segments [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net external sales | ' | ' | ' | ' | ' | ' | ' | ' | 516,266 | 515,992 | 437,232 |
Depreciation | ' | ' | ' | ' | ' | ' | ' | ' | 9,180 | 8,695 | 7,851 |
Operating profit | ' | ' | ' | ' | ' | ' | ' | ' | 123,403 | 134,074 | 114,660 |
Identifiable assets | 721,524 | ' | ' | ' | 718,354 | ' | ' | ' | 721,524 | 718,354 | 691,479 |
Expenditures for long-lived assets | ' | ' | ' | ' | ' | ' | ' | ' | 10,080 | 6,871 | 4,833 |
Industrial Coating Systems [Member] | Operating Segments [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net external sales | ' | ' | ' | ' | ' | ' | ' | ' | 233,167 | 209,490 | 184,016 |
Depreciation | ' | ' | ' | ' | ' | ' | ' | ' | 3,370 | 3,141 | 2,855 |
Operating profit | ' | ' | ' | ' | ' | ' | ' | ' | 33,786 | 25,933 | 27,220 |
Identifiable assets | 113,835 | ' | ' | ' | 110,982 | ' | ' | ' | 113,835 | 110,982 | 71,438 |
Expenditures for long-lived assets | ' | ' | ' | ' | ' | ' | ' | ' | 6,239 | 4,602 | 2,437 |
Corporate [Member] | Operating Segments [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Depreciation | ' | ' | ' | ' | ' | ' | ' | ' | 3,578 | 3,101 | 2,965 |
Operating profit | ' | ' | ' | ' | ' | ' | ' | ' | -37,097 | -35,599 | -36,687 |
Identifiable assets | 456,919 | ' | ' | ' | 395,331 | ' | ' | ' | 456,919 | 395,331 | 270,500 |
Expenditures for long-lived assets | ' | ' | ' | ' | ' | ' | ' | ' | $10,402 | $4,874 | $8,492 |
Operating_Segments_and_Geograp4
Operating Segments and Geographic Area Data - Reportable Segments (Parenthetical) (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Oct. 31, 2013 | Oct. 31, 2012 | Oct. 31, 2011 |
Segment Reporting Information [Line Items] | ' | ' | ' |
Reversal of Restructuring and Severance Costs | $1,126 | $2,524 | $1,589 |
Adhesive Dispensing Systems [Member] | Operating Segments [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Reversal of Restructuring and Severance Costs | 315 | ' | 1,589 |
Cost of goods sold - restructuring and severance and restructuring costs | ' | 3,862 | ' |
Impairment charges | ' | ' | 1,811 |
Advanced Technology Systems [Member] | Operating Segments [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Reversal of Restructuring and Severance Costs | 811 | ' | ' |
Industrial Coating Systems [Member] | Operating Segments [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Reversal of Restructuring and Severance Costs | ' | 690 | ' |
Corporate [Member] | Operating Segments [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Withdrawal from multiplier pension fund | ' | ' | $3,120 |
Operating_Segments_and_Geograp5
Operating Segments and Geographic Area Data - Sales Information by Geographic Regions (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Oct. 31, 2013 | Jul. 31, 2013 | Apr. 30, 2013 | Jan. 31, 2013 | Oct. 31, 2012 | Jul. 31, 2012 | Apr. 30, 2012 | Jan. 31, 2012 | Oct. 31, 2013 | Oct. 31, 2012 | Oct. 31, 2011 |
Net external sales: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total net external sales | $410,818 | $402,960 | $382,100 | $347,043 | $438,677 | $379,872 | $315,193 | $275,836 | $1,542,921 | $1,409,578 | $1,233,159 |
Long-lived assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total long-lived assets | 200,979 | ' | ' | ' | 174,931 | ' | ' | ' | 200,979 | 174,931 | 130,883 |
United States [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net external sales: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total net external sales | ' | ' | ' | ' | ' | ' | ' | ' | 465,789 | 388,904 | 312,328 |
Long-lived assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total long-lived assets | 136,551 | ' | ' | ' | 127,486 | ' | ' | ' | 136,551 | 127,486 | 90,994 |
Americas [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net external sales: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total net external sales | ' | ' | ' | ' | ' | ' | ' | ' | 123,654 | 109,074 | 102,077 |
Long-lived assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total long-lived assets | 4,154 | ' | ' | ' | 3,180 | ' | ' | ' | 4,154 | 3,180 | 2,933 |
Europe [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net external sales: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total net external sales | ' | ' | ' | ' | ' | ' | ' | ' | 416,725 | 381,005 | 390,319 |
Long-lived assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total long-lived assets | 22,576 | ' | ' | ' | 14,896 | ' | ' | ' | 22,576 | 14,896 | 16,312 |
Japan [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net external sales: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total net external sales | ' | ' | ' | ' | ' | ' | ' | ' | 127,945 | 127,509 | 111,003 |
Long-lived assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total long-lived assets | 4,384 | ' | ' | ' | 3,431 | ' | ' | ' | 4,384 | 3,431 | 3,496 |
Asia Pacific [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net external sales: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total net external sales | ' | ' | ' | ' | ' | ' | ' | ' | 408,808 | 403,086 | 317,432 |
Long-lived assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total long-lived assets | $33,314 | ' | ' | ' | $25,938 | ' | ' | ' | $33,314 | $25,938 | $17,148 |
Operating_Segments_and_Geograp6
Operating Segments and Geographic Area Data - Total Consolidated Income Before Income Taxes (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Oct. 31, 2013 | Oct. 31, 2012 | Oct. 31, 2011 |
Segment Reporting [Abstract] | ' | ' | ' |
Total profit for reportable segments | $323,849 | $335,480 | $315,543 |
Interest expense | -14,841 | -11,153 | -5,069 |
Interest and investment income | 421 | 463 | 569 |
Other-net | 1,694 | 1,463 | 3,518 |
Income before income taxes | $311,123 | $326,253 | $314,561 |
Operating_Segments_and_Geograp7
Operating Segments and Geographic Area Data - Summary of Reconciliation of Consolidated Assets (Detail) (USD $) | Oct. 31, 2013 | Oct. 31, 2012 | Oct. 31, 2011 |
In Thousands, unless otherwise specified | |||
Segment Reporting, Asset Reconciling Item [Line Items] | ' | ' | ' |
Total consolidated assets | $2,042,289 | $1,829,515 | $1,304,450 |
Reportable Segment [Member] | ' | ' | ' |
Segment Reporting, Asset Reconciling Item [Line Items] | ' | ' | ' |
Total consolidated assets | 2,042,894 | 1,836,024 | 1,320,391 |
Customer Advance Payments [Member] | ' | ' | ' |
Segment Reporting, Asset Reconciling Item [Line Items] | ' | ' | ' |
Total consolidated assets | 28,341 | 20,894 | 9,375 |
Eliminations [Member] | ' | ' | ' |
Segment Reporting, Asset Reconciling Item [Line Items] | ' | ' | ' |
Total consolidated assets | ($28,946) | ($27,403) | ($25,316) |
Supplemental_Information_for_t2
Supplemental Information for the Statement of Cash Flows - Supplemental Information for the Statement of Cash Flow (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Oct. 31, 2013 | Oct. 31, 2012 | Oct. 31, 2011 |
Cash operating activities: | ' | ' | ' |
Interest paid | $16,037 | $9,285 | $4,972 |
Income taxes paid | 93,074 | 70,935 | 96,487 |
Non-cash investing and financing activities: | ' | ' | ' |
Capitalized lease obligations incurred | 6,441 | 12,981 | 8,154 |
Capitalized lease obligations terminated | 468 | 894 | 534 |
Shares acquired and issued through exercise of stock options | $148 | $2,323 | $5,228 |
Quarterly_Financial_Data_Unaud2
Quarterly Financial Data (Unaudited) - Quarterly Financial Data (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Per Share data, unless otherwise specified | Oct. 31, 2013 | Jul. 31, 2013 | Apr. 30, 2013 | Jan. 31, 2013 | Oct. 31, 2012 | Jul. 31, 2012 | Apr. 30, 2012 | Jan. 31, 2012 | Oct. 31, 2013 | Oct. 31, 2012 | Oct. 31, 2011 |
Quarterly Financial Information Disclosure [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sales | $410,818 | $402,960 | $382,100 | $347,043 | $438,677 | $379,872 | $315,193 | $275,836 | $1,542,921 | $1,409,578 | $1,233,159 |
Gross margin | 226,894 | 225,083 | 216,938 | 197,229 | 241,073 | 223,214 | 189,656 | 169,346 | ' | ' | ' |
Net income | $59,777 | $65,424 | $54,605 | $42,011 | $67,686 | $66,694 | $52,111 | $38,338 | $221,817 | $224,829 | $222,364 |
Earnings per share: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Basic | $0.93 | $1.02 | $0.85 | $0.65 | $1.06 | $1.04 | $0.81 | $0.59 | $3.45 | $3.49 | $3.29 |
Diluted | $0.92 | $1.01 | $0.84 | $0.65 | $1.04 | $1.03 | $0.80 | $0.58 | $3.42 | $3.45 | $3.25 |
Quarterly_Financial_Data_Unaud3
Quarterly Financial Data (Unaudited) - Additional Information (Detail) (USD $) | 3 Months Ended | 12 Months Ended | ||||||
In Thousands, unless otherwise specified | Jul. 31, 2013 | Jan. 31, 2013 | Oct. 31, 2012 | Apr. 30, 2012 | Jan. 31, 2012 | Oct. 31, 2013 | Oct. 31, 2012 | Oct. 31, 2011 |
Quarterly Financial Information Disclosure [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' |
Gain on sale of real estate, before tax | $2,116 | ' | $832 | ' | ' | ' | ' | ' |
Unrecognized tax benefits | ' | 900 | ' | ' | ' | 1,070 | 480 | ' |
Income tax provision including discrete tax benefit | ' | 1,700 | ' | ' | ' | 1,700 | ' | 1,580 |
Pre-tax severance and restructuring costs | ' | ' | ' | 3,776 | 811 | ' | ' | ' |
Settlement loss | ' | ' | ' | ' | -682 | ' | ' | ' |
Cost of sales - restructuring | ' | ' | ' | $2,040 | ' | ' | $2,040 | ' |
Contingencies_Additional_Infor
Contingencies - Additional Information (Detail) (USD $) | Oct. 31, 2013 | Oct. 31, 2012 |
In Thousands, unless otherwise specified | ||
Commitments And Contingencies Disclosure [Abstract] | ' | ' |
Accrual for the ongoing operation, maintenance and monitoring obligation at the site | $668 | $750 |
Schedule_II_Valuation_and_Qual1
Schedule II - Valuation and Qualifying Accounts and Reserves (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Oct. 31, 2013 | Oct. 31, 2012 | Oct. 31, 2011 |
Allowance for Doubtful Accounts [Member] | ' | ' | ' |
Valuation and Qualifying Accounts Disclosure [Line Items] | ' | ' | ' |
Balance at Beginning of Year | $3,776 | $3,311 | $3,353 |
Assumed from Acquisitions | 256 | 648 | 22 |
Charged to Expense | 885 | 710 | 977 |
Deductions | 698 | 801 | 1,047 |
Currency Effects | 46 | -92 | 6 |
Balance at End of Year | 4,265 | 3,776 | 3,311 |
Inventory Obsolescence and Other Reserves [Member] | ' | ' | ' |
Valuation and Qualifying Accounts Disclosure [Line Items] | ' | ' | ' |
Balance at Beginning of Year | 20,505 | 16,050 | 16,802 |
Assumed from Acquisitions | 3,969 | 2,071 | 8 |
Charged to Expense | 5,075 | 6,033 | 3,982 |
Deductions | 2,961 | 3,237 | 4,850 |
Currency Effects | -9 | -412 | 108 |
Balance at End of Year | $26,579 | $20,505 | $16,050 |