Nordson (NDSN) 10-Q 7 Mar 16 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	3 Months Ended
	Jan. 31, 2016shares
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jan. 31, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
Trading Symbol	NDSN
Entity Registrant Name	NORDSON CORP
Entity Central Index Key	72,331
Current Fiscal Year End Date	--10-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding	56,990,042

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income (UNAUDITED) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Jan. 31, 2016	Jan. 31, 2015
Income Statement [Abstract]
Sales	$ 372,220	$ 379,008
Operating costs and expenses:
Cost of sales	175,313	170,287
Selling and administrative expenses	144,929	145,903
Total operating costs and expenses	320,242	316,190
Operating profit	51,978	62,818
Other income (expense):
Interest expense	(5,844)	(4,089)
Interest and investment income	138	86
Other - net	802	(102)
Total other income (expense)	(4,904)	(4,105)
Income before income taxes	47,074	58,713
Income taxes	5,913	15,828
Net income	$ 41,161	$ 42,885
Average common shares	56,997	62,008
Incremental common shares attributable to outstanding stock options, restricted stock, and deferred stock-based compensation	308	528
Average common shares and common share equivalents	57,305	62,536
Basic earnings per share	$ 0.72	$ 0.69
Diluted earnings per share	0.72	0.69
Dividends declared per share	$ 0.24	$ 0.22

Condensed Consolidated Stateme3

Condensed Consolidated Statements of Comprehensive Income (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended
	Jan. 31, 2016	Jan. 31, 2015
Statement Of Income And Comprehensive Income [Abstract]
Net income	$ 41,161	$ 42,885
Components of other comprehensive income (loss):
Translation adjustments	(11,581)	(30,867)
Amortization of prior service cost and net actuarial losses, net of tax	1,631	2,164
Total other comprehensive income (loss)	(9,950)	(28,703)
Total comprehensive income	$ 31,211	$ 14,182

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets ( UNAUDITED) - USD ($) $ in Thousands	Jan. 31, 2016	Oct. 31, 2015
Current assets:
Cash and cash equivalents	$ 60,736	$ 50,268
Receivables - net	343,926	389,550
Inventories - net	224,793	225,672
Deferred income taxes	24,556	24,865
Prepaid expenses	26,862	21,236
Total current assets	680,873	711,591
Property, plant and equipment - net	250,703	249,940
Goodwill	1,079,797	1,082,375
Intangible assets - net	268,053	277,426
Deferred income taxes	5,288	5,705
Other assets	32,526	33,407
Total assets	2,317,240	2,360,444
Current liabilities:
Notes payable	8,946	1,108
Accounts payable	60,981	68,229
Income taxes payable	24,258	28,642
Accrued liabilities	102,240	140,931
Customer advanced payments	23,736	22,884
Current maturities of long-term debt	11,263	22,842
Deferred income taxes	673	1,256
Current obligations under capital leases	4,724	4,884
Total current liabilities	236,821	290,776
Long-term debt	1,116,179	1,092,643
Deferred income taxes	89,141	89,770
Pension obligations	114,088	118,071
Postretirement obligations	67,267	66,690
Other long-term liabilities	43,634	42,478
Shareholders' equity:
Common shares	12,253	12,253
Capital in excess of stated value	353,434	348,986
Retained earnings	1,744,735	1,717,228
Accumulated other comprehensive loss	(154,636)	(144,686)
Common shares in treasury, at cost	(1,305,676)	(1,273,765)
Total shareholders' equity	650,110	660,016
Total liabilities and shareholders' equity	$ 2,317,240	$ 2,360,444

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Cash Flows (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended
	Jan. 31, 2016	Jan. 31, 2015
Cash flows from operating activities:
Net income	$ 41,161	$ 42,885
Depreciation and amortization	17,210	15,984
Non-cash stock compensation	4,847	4,482
Deferred income taxes	(1,656)	1,131
Other non-cash expense	980	706
Loss on sale of property, plant and equipment	21	546
Tax benefit from the exercise of stock options	(198)	(319)
Changes in operating assets and liabilities	(13,828)	(39,503)
Net cash provided by operating activities	48,537	25,912
Cash flows from investing activities:
Additions to property, plant and equipment	(11,093)	(16,821)
Proceeds from sale of property, plant and equipment	87	275
Equity investments		(371)
Net cash used in investing activities	(11,006)	(16,917)
Cash flows from financing activities:
Proceeds from short-term borrowings	8,022	57,464
Repayment of short-term borrowings	(3)
Proceeds from long-term debt	24,802	76,347
Repayment of long-term debt	(11,401)	(53,844)
Repayment of capital lease obligations	(1,416)	(1,575)
Issuance of common shares	900	832
Purchase of treasury shares	(33,408)	(73,075)
Tax benefit from the exercise of stock options	198	319
Dividends paid	(13,654)	(13,635)
Net cash used in financing activities	(25,960)	(7,167)
Effect of exchange rate changes on cash	(1,103)	(3,216)
Increase (decrease) in cash and cash equivalents	10,468	(1,388)
Cash and cash equivalents:
Beginning of year	50,268	42,314
End of quarter	$ 60,736	$ 40,926

Significant Accounting Policies

Significant Accounting Policies	3 Months Ended
	Jan. 31, 2016
Accounting Policies [Abstract]
Significant Accounting Policies	1. Significant accounting policies Basis of presentation Basis of consolidation Use of estimates Revenue recognition 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 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, and, 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 2016 and 2015 were not material. Earnings per share .

Recently Issued Accounting Stan

Recently Issued Accounting Standards	3 Months Ended
	Jan. 31, 2016
Accounting Changes And Error Corrections [Abstract]
Recently Issued Accounting Standards	2. Recently issued accounting standards In May 2014, the Financial Accounting Standards Board (FASB) issued a new standard regarding revenue recognition. Under this standard, a company recognizes revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. The standard implements a five-step process for customer contract revenue recognition that focuses on transfer of control. In August 2015 In April 2015, the FASB issued a new standard regarding the presentation of debt issuance costs. Under this standard, a company is required to present unamortized debt issuance costs related to a recognized debt liability in the balance sheet as a direct deduction from the carrying amount of that debt liability, rather than as a separate asset. The recognition and measurement guidance for debt issuance costs are not affected by this new standard. It In July 2015, the FASB issued a new standard regarding the measurement of inventory. Under this standard, inventory that is measured using the first-in, first-out (“FIFO”) or average cost methods is required to be measured at the lower of cost or net realizable value. Net realizable value is the estimated selling price in the ordinary course of business, less reasonably predictable costs of completion, disposal and transportation. This standard does not impact inventory measured on a last-in, last-out (“LIFO”) method. It will be effective for us beginning in 2017. We are currently assessing the impact this standard will have on our consolidated financial statements. In November 2015, the FASB issued a new standard regarding the balance sheet classification of deferred taxes, which will require entities to present deferred tax assets and liabilities as noncurrent on the balance sheet. This guidance simplifies the current guidance, which requires entities to separately present deferred tax assets and liabilities as current and noncurrent on the balance sheet. It will be effective for us beginning in 2017; however, early adoption is permissible. This standard may be adopted either on a retrospective or prospective basis. We are currently assessing the impact this standard will have on our consolidated financial statements as well as the method by which we will adopt the new standard.

Severance and Restructuring Cos

Severance and Restructuring Costs	3 Months Ended
	Jan. 31, 2016
Restructuring And Related Activities [Abstract]
Severance and Restructuring Costs	3. Severance and restructuring costs Severance and restructuring costs of $1,017 were recognized in the first quarter of 2016. Within the Adhesives Dispensing Systems segment, restructuring initiatives to optimize operations in the U.S. and Belgium resulted in severance costs of $342, and other one-time restructuring costs of $138 during the three months ended January 31, 2016. Severance payments of $3,967 related to these actions, as well as actions taken in 2015, were paid during the first quarter of 2016. To enhance operational efficiency and customer service within the Advanced Technology Systems segment, a restructuring initiative resulted in severance costs of $510 during the three months ended January 31, 2016. Severance and restructuring payments of $2,012 related to these actions, as well as actions taken in 2015, were paid during the first quarter of 2016. Within the Industrial Coatings Systems segment, a restructuring program to enhance operational efficiency and customer service resulted in severance costs of $27 during the three months ended January 31, 2016. Severance payments of $294 related to these actions, as well as actions taken in 2015, were paid during the first quarter of 2016.

Inventories

Inventories	3 Months Ended
	Jan. 31, 2016
Inventory Disclosure [Abstract]
Inventories	4 . Inventories At January 31, 2016 and October 31, 2015, inventories consisted of the following: January 31, 2016 October 31, 2015 Raw materials and component parts $ 91,872 $ 97,215 Work-in-process 37,294 35,509 Finished goods 131,756 128,816 260,922 261,540 Obsolescence and other reserves (29,299 ) (28,230 ) LIFO reserve (6,830 ) (7,638 ) $ 224,793 $ 225,672

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	3 Months Ended
	Jan. 31, 2016
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	5 . Goodwill and other intangible assets Changes in the carrying amount of goodwill for the three months ended January 31, 2016 by operating segment are as follows: Adhesive Systems Advanced Systems Industrial Systems Total Balance at October 31, 2015 $ 385,975 $ 672,342 $ 24,058 $ 1,082,375 Currency effect (1,744 ) (834 ) — (2,578 ) Balance at January 31, 2016 $ 384,231 $ 671,508 $ 24,058 $ 1,079,797 Accumulated impairment losses, which were recorded in 2009, were $232,789 at January 31, 2016 and October 31, 2015. Of these losses, $229,173 related to the Advanced Technology Systems segment, and $3,616 related to the Industrial Coating Systems segment. Information regarding our intangible assets subject to amortization is as follows: January 31, 2016 Carrying Accumulated Amortization Net Book Value Customer relationships $ 199,390 $ 59,677 $ 139,713 Patent/technology costs 96,677 33,780 62,897 Trade name 82,691 18,243 64,448 Non-compete agreements 8,906 7,918 988 Other 1,364 1,357 7 Total $ 389,028 $ 120,975 $ 268,053 October 31, 2015 Carrying Accumulated Amortization Net Book Value Customer relationships $ 201,282 $ 56,315 $ 144,967 Patent/technology costs 98,063 32,764 65,299 Trade name 83,022 17,003 66,019 Non-compete agreements 8,952 7,819 1,133 Other 1,365 1,357 8 Total $ 392,684 $ 115,258 $ 277,426 Amortization expense for the three months ended January 31, 2016 and 2015 was $7,334 and $6,891, respectively.

Pension and Other Postretiremen

Pension and Other Postretirement Plans	3 Months Ended
	Jan. 31, 2016
Compensation And Retirement Disclosure [Abstract]
Pension and Other Postretirement Plans	6 . Pension and other postretirement plans The components of net periodic pension cost for the three months ended January 31, 2016 and January 31, 2015 were: U.S. International Three Months Ended 2016 2015 2016 2015 Service cost $ 2,761 $ 2,400 $ 701 $ 741 Interest cost 3,934 3,682 613 672 Expected return on plan assets (4,919 ) (4,580 ) (387 ) (417 ) Amortization of prior service cost (credit) 19 30 (22 ) (24 ) Amortization of net actuarial loss 1,926 2,253 465 824 Settlement loss — — — 1,275 Total benefit cost $ 3,721 $ 3,785 $ 1,370 $ 3,071 The components of other postretirement benefit cost for the three months ended January 31, 2016 and January 31, 2015 were: U.S. International Three Months Ended 2016 2015 2016 2015 Service cost $ 248 $ 275 $ 4 $ 8 Interest cost 765 753 6 9 Amortization of prior service credit (66 ) (110 ) — — Amortization of net actuarial (gain) loss 212 297 (6 ) — Total benefit cost $ 1,159 $ 1,215 $ 4 $ 17

Income Taxes

Income Taxes	3 Months Ended
	Jan. 31, 2016
Income Tax Disclosure [Abstract]
Income Taxes	7 . Income taxes We record our interim provision for income taxes based on our estimated annual effective tax rate, as well as certain items discrete to the current period. The effective tax rates for the three months ended January 31, 2016 and January 31, 2015 were 12.6% and 27.0%, respectively. On December 18, 2015, the Protecting Americans from Tax Hikes Act of 2015 was enacted which retroactively reinstated the Federal Research and Development Tax Credit (Federal R&D Tax Credit) as of January 1, 2015, and made it permanent. As a result, our income tax provision for the three months ended January 31, 2016 includes a discrete tax benefit of $2,025 primarily related to 2015. The tax rate for the three months ended January 31, 2016 also includes a discrete tax benefit of $6,184 related to dividends paid from previously taxed foreign earnings generated prior to 2015. On December 19, 2014, the Tax Increase Prevention Act of 2014 was enacted which retroactively reinstated the Federal R&D Tax Credit from January 1, 2014 to December 31, 2014 and extended certain other tax provisions. As a result, our income tax provision for the three months ended January 31, 2015 included a discrete tax benefit of $1,786 primarily related to 2014.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	3 Months Ended
	Jan. 31, 2016
Equity [Abstract]
Accumulated Other Comprehensive Loss	8. Accumulated other comprehensive loss The components of accumulated other comprehensive loss, including adjustments for items that are reclassified from accumulated other comprehensive loss to net income, are shown below. Cumulative Pension and Accumulated translation postretirement benefit other comprehensive adjustments plan adjustments loss Balance at October 31, 2015 $ (42,427 ) $ (102,259 ) $ (144,686 ) Pension and postretirement plan changes, net of tax of $(884) — 1,631 1,631 Currency translation losses (11,581 ) — (11,581 ) Balance at January 31, 2016 $ (54,008 ) $ (100,628 ) $ (154,636 )

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Jan. 31, 2016
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stock-Based Compensation	9 . Stock-based compensation During the 2013 Annual Meeting of Shareholders, 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 shares, 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. 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. For grants made prior to November 2012, vesting ceases upon retirement, death and disability, and unvested shares are forfeited. For grants made during and after November 2012, in the event of termination of employment due to early retirement or normal retirement at age 65, options granted within 12 months prior to termination are forfeited, and vesting continues post retirement for all other unvested options granted. In the event of disability or death, all unvested stock options fully vest. Termination for any other reason results in forfeiture of unvested options and vested options in certain circumstances. The amortized cost of options is accelerated if the retirement eligibility date occurs before the normal vesting date. Option exercises are satisfied through the issuance of treasury shares on a first-in, first-out basis. We recognized compensation expense related to stock options of $2,156 and $2,468 in the three months ended January 31, 2016 and 2015, respectively. The following table summarizes activity related to stock options for the three months ended January 31, 2016: Number of Options Weighted-Average Exercise Share Aggregate Intrinsic Value Weighted Average Remaining Term Outstanding at October 31, 2015 1,759 $ 50.74 Granted 490 $ 70.91 Exercised (27 ) $ 33.12 Forfeited or expired (14 ) $ 63.45 Outstanding at January 31, 2016 2,208 $ 55.35 $ 25,217 6.7 years Vested or expected to vest at January 31, 2016 2,170 $ 55.06 $ 25,217 6.6 years Exercisable at January 31, 2016 1,304 $ 43.47 $ 25,217 5.1 years As of January 31, 2016, there was $11,337 of total unrecognized compensation cost related to nonvested stock options. That cost is expected to be amortized over a weighted average period of approximately 1.6 years. 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: Three months ended January 31, 2016 January 31, 2015 Expected volatility 29.1%-30.4% 31.6%-39.5% Expected dividend yield 1.54% 1.10% Risk-free interest rate 1.78%-1.90% 1.70%-1.85% Expected life of the option (in years) 5.4-6.2 5.4-6.1 The weighted-average expected volatility used to value the 2016 and 2015 options was 29.6%, and 34.3%, 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 U.S. Treasury issues with a term equal to the expected life of the option being valued. The weighted average grant date fair value of stock options granted during the three months ended January 31, 2016 and 2015 was $18.23 and $24.63, respectively. The total intrinsic value of options exercised during the three months ended January 31, 2016 and 2015 was $968 and $1,097, respectively. Cash received from the exercise of stock options for the three months ended January 31, 2016 and 2015 was $900 and $832, respectively. The tax benefit realized from tax deductions from exercises for the three months ended January 31, 2016 and 2015 was $198 and $319, respectively. Restricted Shares and Restricted Share Units We may grant restricted shares and/or restricted share units to our employees and directors. These shares or units 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 vest on a pro-rata basis. In the event of termination of employment due to retirement at normal retirement age, 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 vesting of shares or units. As shares or units are issued, deferred stock-based compensation equivalent to the fair market value on the date of grant is expensed over the vesting period. Tax benefits arising from the lapse of restrictions are recognized when realized and credited to capital in excess of stated value. The following table summarizes activity related to restricted shares during the three months ended January 31, 2016: Number of Shares Weighted-Average Grant Date Fair Value Restricted shares at October 31, 2015 53 $ 73.23 Granted 30 $ 70.80 Vested (23 ) $ 69.31 Restricted shares at January 31, 2016 60 $ 73.47 As of January 31, 2016, there was $3,527 of unrecognized compensation cost related to restricted shares. The cost is expected to be amortized over a weighted average period of 2.2 years. The amount charged to expense related to restricted shares during the three months ended January 31, 2016 and 2015 was $506 and $472, respectively. These amounts included common share dividends for the three months ended January 31, 2016 and 2015 of $15 and $13, respectively. The following table summarizes activity related to restricted share units during the three months ended January 31, 2016: Number of Units Weighted-Average Grant Date Fair Value Restricted share units at October 31, 2015 0 $ — Granted 13 $ 72.01 Restricted share units at January 31, 2016 13 $ 72.01 As of January 31, 2016, there was $720 of remaining expense to be recognized related to outstanding restricted share units, which is expected to be recognized over a weighted average period of 0.8 years. The amount charged to expense related to restricted share units during the three months ended January 31, 2016 and 2015 was $243. Deferred Directors’ Compensation Non-employee directors may defer all or part of their cash and equity-based compensation until retirement. Cash compensation may be deferred as cash or as share equivalent units. Deferred cash amounts are recorded as liabilities, and share equivalent units are recorded as equity. Additional share equivalent units are earned when common share dividends are declared. The following table summarizes activity related to director deferred compensation share equivalent units during the three months ended January 31, 2016: Number of Shares Weighted-Average Grant Date Fair Value Outstanding at October 31, 2015 100 $ 36.76 Dividend equivalents 1 $ 62.41 Distributions (3 ) $ 29.09 Outstanding at January 31, 2016 98 $ 37.21 The amount charged to expense related to director deferred compensation for the three months ended January 31, 2016 and 2015 was $39 and $25, respectively. Performance Share Incentive Awards Executive officers and selected other key employees are eligible to receive common share-based incentive awards. Payouts, in the form of unrestricted common shares, vary based on the degree to which corporate financial performance exceeds predetermined threshold, target and maximum performance levels over three-year performance periods. No payout 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 our common shares at the grant date, reduced by the implied value of dividends not to be paid. This value was $67.69 per share for 2016, $76.48 per share for 2015 and $69.25 per share for 2014. During the three months ended January 31, 2016, and January 31, 2015, $1,869 and $1,248 was charged to expense. The cumulative amount recorded in shareholders’ equity at January 31, 2016 was $5,737. Deferred Compensation Our executive officers and other highly compensated employees may elect to defer up to 100% of their base pay and cash incentive compensation and, for executive officers, up to 90% of their performance share-based incentive payout each year. Additional share units are credited for quarterly dividends paid on our common shares. Expense related to dividends paid under this plan for the three months ended January 31, 2016 and 2015 was $49 and $39, respectively.

Warranties

Warranties	3 Months Ended
	Jan. 31, 2016
Guarantees [Abstract]
Warranties	1 0 . Warranties We offer warranties to our customers depending on the specific product and terms of the customer purchase agreement. A typical warranty program requires that we repair or replace defective products within a specified time period (generally one year) from the date of delivery or first use. We record an estimate for future warranty-related costs based on actual historical return rates. Based on analysis of return rates and other factors, the adequacy of our warranty provisions are adjusted as necessary. The liability for warranty costs is included in accrued liabilities in the Consolidated Balance Sheet. Following is a reconciliation of the product warranty liability for the three months ended January 31, 2016 and 2015: January 31, 2016 January 31, 2015 Beginning balance at October 31 $ 10,537 $ 9,918 Accruals for warranties 2,547 2,996 Warranty payments (2,357 ) (2,661 ) Currency effect (51 ) (588 ) Ending balance $ 10,676 $ 9,665

Operating Segments

Operating Segments	3 Months Ended
	Jan. 31, 2016
Segment Reporting [Abstract]
Operating Segments	1 1 . Operating segments We conduct business across three primary business 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. The accounting policies of the segments are generally the same as those described in Note 1, Significant Accounting Policies, of our annual report on Form 10-K for the year ended October 31, 2015. The following table presents information about our reportable segments: Adhesive Advanced Industrial Corporate Total Three months ended January 31, 2016 Net external sales $ 203,439 $ 117,860 $ 50,921 $ — $ 372,220 Operating profit (loss) 50,360 (a) 7,973 (b) 4,178 (c) (10,533 ) 51,978 Three months ended January 31, 2015 Net external sales $ 194,213 $ 132,218 $ 52,577 $ — $ 379,008 Operating profit (loss) 43,327 26,818 3,764 (11,091 ) 62,818 (a) Includes $480 of severance and restructuring costs in the three months ended January 31, 2016. (b) Includes $510 of severance and restructuring costs in the three months ended January 31, 2016. ( c ) Includes $27 of severance and restructuring costs in the three months ended January 31, 2016. A reconciliation of total segment operating income to total consolidated income before income taxes is as follows: Three Months Ended January 31, 2016 January 31, 2015 Total profit for reportable segments $ 51,978 $ 62,818 Interest expense (5,844 ) (4,089 ) Interest and investment income 138 86 Other-net 802 (102 ) Income before income taxes $ 47,074 $ 58,713 We have significant sales in the following geographic regions: Three Months Ended January 31, 2016 January 31, 2015 United States $ 117,391 $ 122,824 Americas 26,707 28,268 Europe 119,718 108,566 Japan 19,503 21,533 Asia Pacific 88,901 97,817 Total net external sales $ 372,220 $ 379,008

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Jan. 31, 2016
Fair Value Disclosures [Abstract]
Fair Value Measurements	1 2 . 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 January 31, 2016: Total Level 1 Level 2 Level 3 Assets: Foreign currency forward contracts (a) 878 — 878 — Total assets at fair value $ 878 $ — $ 878 $ — Liabilities: Deferred compensation plans (b) $ 10,380 $ — $ 10,380 $ — Foreign currency forward contracts (a) 1,807 — 1,807 — Total liabilities at fair value $ 12,187 $ — $ 12,187 $ — (a) 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 currency forward contracts are valued using market exchange rates. Foreign currency forward contracts are not designated as hedges. (b) Executive officers and other highly compensated employees may defer up to 100 percent of their salary and annual cash incentive award and for executive officers, up to 90 percent of their long-term performance share incentive award,

Financial Instruments

Financial Instruments	3 Months Ended
	Jan. 31, 2016
Investments All Other Investments [Abstract]
Financial Instruments	1 3 . 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 currencies are recorded 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. We do not use financial instruments for trading or speculative purposes. Gains and losses on foreign currency forward contracts are recorded in “Other – net” on the Consolidated Statement of Income together with the transaction gain or loss from the hedged balance sheet position. For the three months ended January 31, 2016, we recognized gains of $1,427 on foreign currency forward contracts and losses of $388 from the change in fair value of balance sheet positions. For the three months ended January 31, 2015, we recognized gains of $388 on foreign currency forward contracts and losses of $395 from the change in fair value of balance sheet positions. The following table summarizes, by currency, the foreign currency forward contracts outstanding at January 31, 2016 : Sell Buy Notional Amounts Fair Market Value Notional Amounts Fair Market Value Euro $ 165,216 $ 165,590 $ 67,513 $ 67,178 British pound 52,087 51,409 37,824 36,776 Japanese yen 23,654 23,221 17,559 17,505 Australian dollar 525 531 6,918 6,925 Hong Kong dollar — — 62,663 62,446 Singapore dollar 375 378 11,624 11,657 Others 3,270 3,277 23,433 23,397 Total $ 245,127 $ 244,406 $ 227,534 $ 225,884 The carrying amounts and fair values of financial instruments at January 31, 2016, 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. Carrying Amount Fair Value Cash and cash equivalents $ 60,736 $ 60,736 Notes payable 8,946 8,946 Long-term debt, including current maturities 1,127,442 1,126,369 Foreign currency forward contracts (net) (929 ) (929 ) 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. · 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 valued using observable market based inputs, which are considered to be Level 2 inputs under the fair value hierarchy.

Contingencies

Contingencies	3 Months Ended
	Jan. 31, 2016
Commitments And Contingencies Disclosure [Abstract]
Contingencies	1 4 . 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. 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 the construction of a potable water delivery system serving the impacted area down gradient of the Site. At January 31, 2016 and October 31, 2015, our accrual for the ongoing operation, maintenance and monitoring obligation at the Site was $565. 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.

Significant Accounting Polici20

Significant Accounting Policies (Policies)	3 Months Ended
	Jan. 31, 2016
Accounting Policies [Abstract]
Basis of Presentation	Basis of presentation
Basis of Consolidation	Basis of consolidation
Use of Estimates	Use of estimates
Revenue Recognition	Revenue recognition 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 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, and, 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 2016 and 2015 were not material.
Earnings Per Share	Earnings per share .

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Jan. 31, 2016
Inventory Disclosure [Abstract]
Schedule of Inventories	At January 31, 2016 and October 31, 2015, inventories consisted of the following: January 31, 2016 October 31, 2015 Raw materials and component parts $ 91,872 $ 97,215 Work-in-process 37,294 35,509 Finished goods 131,756 128,816 260,922 261,540 Obsolescence and other reserves (29,299 ) (28,230 ) LIFO reserve (6,830 ) (7,638 ) $ 224,793 $ 225,672

Goodwill and Other Intangible22

Goodwill and Other Intangible Assets (Tables)	3 Months Ended
	Jan. 31, 2016
Goodwill And Intangible Assets Disclosure [Abstract]
Summary of Changes in Carrying Amount of Goodwill	Changes in the carrying amount of goodwill for the three months ended January 31, 2016 by operating segment are as follows: Adhesive Systems Advanced Systems Industrial Systems Total Balance at October 31, 2015 $ 385,975 $ 672,342 $ 24,058 $ 1,082,375 Currency effect (1,744 ) (834 ) — (2,578 ) Balance at January 31, 2016 $ 384,231 $ 671,508 $ 24,058 $ 1,079,797
Summary of Intangible Assets Subject to Amortization	Information regarding our intangible assets subject to amortization is as follows: January 31, 2016 Carrying Accumulated Amortization Net Book Value Customer relationships $ 199,390 $ 59,677 $ 139,713 Patent/technology costs 96,677 33,780 62,897 Trade name 82,691 18,243 64,448 Non-compete agreements 8,906 7,918 988 Other 1,364 1,357 7 Total $ 389,028 $ 120,975 $ 268,053 October 31, 2015 Carrying Accumulated Amortization Net Book Value Customer relationships $ 201,282 $ 56,315 $ 144,967 Patent/technology costs 98,063 32,764 65,299 Trade name 83,022 17,003 66,019 Non-compete agreements 8,952 7,819 1,133 Other 1,365 1,357 8 Total $ 392,684 $ 115,258 $ 277,426

Pension and Other Postretirem23

Pension and Other Postretirement Plans (Tables)	3 Months Ended
	Jan. 31, 2016
Pension Cost [Member]
Defined Benefit Plans And Other Postretirement Benefit Plans Table Text Block [Line Items]
Components of Net Periodic Benefits Cost	The components of net periodic pension cost for the three months ended January 31, 2016 and January 31, 2015 were: U.S. International Three Months Ended 2016 2015 2016 2015 Service cost $ 2,761 $ 2,400 $ 701 $ 741 Interest cost 3,934 3,682 613 672 Expected return on plan assets (4,919 ) (4,580 ) (387 ) (417 ) Amortization of prior service cost (credit) 19 30 (22 ) (24 ) Amortization of net actuarial loss 1,926 2,253 465 824 Settlement loss — — — 1,275 Total benefit cost $ 3,721 $ 3,785 $ 1,370 $ 3,071
Postretirement Benefit Costs [Member]
Defined Benefit Plans And Other Postretirement Benefit Plans Table Text Block [Line Items]
Components of Net Periodic Benefits Cost	The components of other postretirement benefit cost for the three months ended January 31, 2016 and January 31, 2015 were: U.S. International Three Months Ended 2016 2015 2016 2015 Service cost $ 248 $ 275 $ 4 $ 8 Interest cost 765 753 6 9 Amortization of prior service credit (66 ) (110 ) — — Amortization of net actuarial (gain) loss 212 297 (6 ) — Total benefit cost $ 1,159 $ 1,215 $ 4 $ 17

Accumulated Other Comprehensi24

Accumulated Other Comprehensive Loss (Tables)	3 Months Ended
	Jan. 31, 2016
Equity [Abstract]
Summary of Accumulated Other Comprehensive Loss	The components of accumulated other comprehensive loss, including adjustments for items that are reclassified from accumulated other comprehensive loss to net income, are shown below. Cumulative Pension and Accumulated translation postretirement benefit other comprehensive adjustments plan adjustments loss Balance at October 31, 2015 $ (42,427 ) $ (102,259 ) $ (144,686 ) Pension and postretirement plan changes, net of tax of $(884) — 1,631 1,631 Currency translation losses (11,581 ) — (11,581 ) Balance at January 31, 2016 $ (54,008 ) $ (100,628 ) $ (154,636 )

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
	Jan. 31, 2016
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Summarized Activity Related to Stock Options	The following table summarizes activity related to stock options for the three months ended January 31, 2016: Number of Options Weighted-Average Exercise Share Aggregate Intrinsic Value Weighted Average Remaining Term Outstanding at October 31, 2015 1,759 $ 50.74 Granted 490 $ 70.91 Exercised (27 ) $ 33.12 Forfeited or expired (14 ) $ 63.45 Outstanding at January 31, 2016 2,208 $ 55.35 $ 25,217 6.7 years Vested or expected to vest at January 31, 2016 2,170 $ 55.06 $ 25,217 6.6 years Exercisable at January 31, 2016 1,304 $ 43.47 $ 25,217 5.1 years
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: Three months ended January 31, 2016 January 31, 2015 Expected volatility 29.1%-30.4% 31.6%-39.5% Expected dividend yield 1.54% 1.10% Risk-free interest rate 1.78%-1.90% 1.70%-1.85% Expected life of the option (in years) 5.4-6.2 5.4-6.1
Summarized Activity Related to Restricted Stock	The following table summarizes activity related to restricted shares during the three months ended January 31, 2016: Number of Shares Weighted-Average Grant Date Fair Value Restricted shares at October 31, 2015 53 $ 73.23 Granted 30 $ 70.80 Vested (23 ) $ 69.31 Restricted shares at January 31, 2016 60 $ 73.47
Summarized Activity Related to Restricted Stock Units	The following table summarizes activity related to restricted share units during the three months ended January 31, 2016: Number of Units Weighted-Average Grant Date Fair Value Restricted share units at October 31, 2015 0 $ — Granted 13 $ 72.01 Restricted share units at January 31, 2016 13 $ 72.01
Summarized Activity Related to Director Deferred Compensation Shares	The following table summarizes activity related to director deferred compensation share equivalent units during the three months ended January 31, 2016: Number of Shares Weighted-Average Grant Date Fair Value Outstanding at October 31, 2015 100 $ 36.76 Dividend equivalents 1 $ 62.41 Distributions (3 ) $ 29.09 Outstanding at January 31, 2016 98 $ 37.21

Warranties (Tables)

Warranties (Tables)	3 Months Ended
	Jan. 31, 2016
Guarantees [Abstract]
Reconciliation of Product Warranty Liability	Following is a reconciliation of the product warranty liability for the three months ended January 31, 2016 and 2015: January 31, 2016 January 31, 2015 Beginning balance at October 31 $ 10,537 $ 9,918 Accruals for warranties 2,547 2,996 Warranty payments (2,357 ) (2,661 ) Currency effect (51 ) (588 ) Ending balance $ 10,676 $ 9,665

Operating Segments (Tables)

Operating Segments (Tables)	3 Months Ended
	Jan. 31, 2016
Segment Reporting [Abstract]
Reportable Segments	The following table presents information about our reportable segments: Adhesive Advanced Industrial Corporate Total Three months ended January 31, 2016 Net external sales $ 203,439 $ 117,860 $ 50,921 $ — $ 372,220 Operating profit (loss) 50,360 (a) 7,973 (b) 4,178 (c) (10,533 ) 51,978 Three months ended January 31, 2015 Net external sales $ 194,213 $ 132,218 $ 52,577 $ — $ 379,008 Operating profit (loss) 43,327 26,818 3,764 (11,091 ) 62,818 (a) Includes $480 of severance and restructuring costs in the three months ended January 31, 2016. (b) Includes $510 of severance and restructuring costs in the three months ended January 31, 2016. ( c ) Includes $27 of severance and restructuring costs in the three months ended January 31, 2016.
Reconciliation of Segment Operating Income to Consolidated Income Before Income Taxes	A reconciliation of total segment operating income to total consolidated income before income taxes is as follows: Three Months Ended January 31, 2016 January 31, 2015 Total profit for reportable segments $ 51,978 $ 62,818 Interest expense (5,844 ) (4,089 ) Interest and investment income 138 86 Other-net 802 (102 ) Income before income taxes $ 47,074 $ 58,713
Sales and Long-lived Asset Information by Geographic Regions	We have significant sales in the following geographic regions: Three Months Ended January 31, 2016 January 31, 2015 United States $ 117,391 $ 122,824 Americas 26,707 28,268 Europe 119,718 108,566 Japan 19,503 21,533 Asia Pacific 88,901 97,817 Total net external sales $ 372,220 $ 379,008

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Jan. 31, 2016
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 January 31, 2016: Total Level 1 Level 2 Level 3 Assets: Foreign currency forward contracts (a) 878 — 878 — Total assets at fair value $ 878 $ — $ 878 $ — Liabilities: Deferred compensation plans (b) $ 10,380 $ — $ 10,380 $ — Foreign currency forward contracts (a) 1,807 — 1,807 — Total liabilities at fair value $ 12,187 $ — $ 12,187 $ — (a) 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 currency forward contracts are valued using market exchange rates. Foreign currency forward contracts are not designated as hedges. (b) Executive officers and other highly compensated employees may defer up to 100 percent of their salary and annual cash incentive award and for executive officers, up to 90 percent of their long-term performance share incentive award,

Financial Instruments (Tables)

Financial Instruments (Tables)	3 Months Ended
	Jan. 31, 2016
Investments All Other Investments [Abstract]
Outstanding Currency, Forward Exchange Contracts	The following table summarizes, by currency, the foreign currency forward contracts outstanding at January 31, 2016 : Sell Buy Notional Amounts Fair Market Value Notional Amounts Fair Market Value Euro $ 165,216 $ 165,590 $ 67,513 $ 67,178 British pound 52,087 51,409 37,824 36,776 Japanese yen 23,654 23,221 17,559 17,505 Australian dollar 525 531 6,918 6,925 Hong Kong dollar — — 62,663 62,446 Singapore dollar 375 378 11,624 11,657 Others 3,270 3,277 23,433 23,397 Total $ 245,127 $ 244,406 $ 227,534 $ 225,884
Carrying Amounts and Fair Values of Financial Instruments, Other than Receivables and Accounts Payable	The carrying values of receivables and accounts payable approximate fair value due to the short-term nature of these instruments. Carrying Amount Fair Value Cash and cash equivalents $ 60,736 $ 60,736 Notes payable 8,946 8,946 Long-term debt, including current maturities 1,127,442 1,126,369 Foreign currency forward contracts (net) (929 ) (929 )

Significant Accounting Polici30

Significant Accounting Policies - Additional Information (Detail) - shares shares in Thousands	3 Months Ended
	Jan. 31, 2016	Jan. 31, 2015
Significant Accounting Policies [Line Items]
Ownership percentage in affiliates and joint ventures	50.00%
Stock Options [Member]
Significant Accounting Policies [Line Items]
Options for common shares excluded from computation of diluted earning per share	1,040	315

Severance and Restructuring C31

Severance and Restructuring Costs - Additional Information (Detail) $ in Thousands	3 Months Ended
	Jan. 31, 2016USD ($)
Restructuring Cost And Reserve [Line Items]
Severance and restructuring costs	$ 1,017
Adhesive Dispensing Systems [Member]
Restructuring Cost And Reserve [Line Items]
Severance and restructuring costs	480
Severance costs	342
Other restructuring costs	138
Severance payments	3,967
Advanced Technology Systems [Member]
Restructuring Cost And Reserve [Line Items]
Severance and restructuring costs	510
Severance costs	510
Severance payments	2,012
Industrial Coating Systems [Member]
Restructuring Cost And Reserve [Line Items]
Severance and restructuring costs	27
Severance costs	27
Severance payments	$ 294

Inventories - Schedule of Inven

Inventories - Schedule of Inventories (Detail) - USD ($) $ in Thousands	Jan. 31, 2016	Oct. 31, 2015
Inventory Disclosure [Abstract]
Raw materials and component parts	$ 91,872	$ 97,215
Work-in-process	37,294	35,509
Finished goods	131,756	128,816
Inventories - gross	260,922	261,540
Obsolescence and other reserves	(29,299)	(28,230)
LIFO reserve	(6,830)	(7,638)
Inventories - net	$ 224,793	$ 225,672

Goodwill and Other Intangible33

Goodwill and Other Intangible Assets - Summary of Changes in Carrying Amount of Goodwill (Detail) $ in Thousands	3 Months Ended
	Jan. 31, 2016USD ($)
Goodwill [Line Items]
Balance at October 31, 2015	$ 1,082,375
Currency effect	(2,578)
Balance at January 31, 2016	1,079,797
Adhesive Dispensing Systems [Member]
Goodwill [Line Items]
Balance at October 31, 2015	385,975
Currency effect	(1,744)
Balance at January 31, 2016	384,231
Advanced Technology Systems [Member]
Goodwill [Line Items]
Balance at October 31, 2015	672,342
Currency effect	(834)
Balance at January 31, 2016	671,508
Industrial Coating Systems [Member]
Goodwill [Line Items]
Balance at October 31, 2015	24,058
Balance at January 31, 2016	$ 24,058

Goodwill and Other Intangible34

Goodwill and Other Intangible Assets - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Jan. 31, 2016	Jan. 31, 2015	Oct. 31, 2015
Goodwill [Line Items]
Goodwill accumulated impairment loss	$ 232,789		$ 232,789
Intangible assets, amortization expense	7,334	$ 6,891
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 Other Intangible35

Goodwill and Other Intangible Assets - Summary of Intangible Assets Subject to Amortization (Detail) - USD ($) $ in Thousands	Jan. 31, 2016	Oct. 31, 2015
Finite Lived Intangible Assets [Line Items]
Carrying Amount	$ 389,028	$ 392,684
Accumulated Amortization	120,975	115,258
Net Book Value	268,053	277,426
Customer Relationships [Member]
Finite Lived Intangible Assets [Line Items]
Carrying Amount	199,390	201,282
Accumulated Amortization	59,677	56,315
Net Book Value	139,713	144,967
Patent/Technology Costs [Member]
Finite Lived Intangible Assets [Line Items]
Carrying Amount	96,677	98,063
Accumulated Amortization	33,780	32,764
Net Book Value	62,897	65,299
Trade Names [Member]
Finite Lived Intangible Assets [Line Items]
Carrying Amount	82,691	83,022
Accumulated Amortization	18,243	17,003
Net Book Value	64,448	66,019
Non-compete Agreements [Member]
Finite Lived Intangible Assets [Line Items]
Carrying Amount	8,906	8,952
Accumulated Amortization	7,918	7,819
Net Book Value	988	1,133
Other [Member]
Finite Lived Intangible Assets [Line Items]
Carrying Amount	1,364	1,365
Accumulated Amortization	1,357	1,357
Net Book Value	$ 7	$ 8

Pension and Other Postretirem36

Pension and Other Postretirement Plans - Net Periodic Benefit Cost (Detail) - USD ($) $ in Thousands	3 Months Ended
	Jan. 31, 2016	Jan. 31, 2015
Pension Plan, United States [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 2,761	$ 2,400
Interest cost	3,934	3,682
Expected return on plan assets	(4,919)	(4,580)
Amortization of prior service cost (credit)	19	30
Amortization of net actuarial loss	1,926	2,253
Total benefit cost	3,721	3,785
Pension Plan, International [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	701	741
Interest cost	613	672
Expected return on plan assets	(387)	(417)
Amortization of prior service cost (credit)	(22)	(24)
Amortization of net actuarial loss	465	824
Settlement loss		1,275
Total benefit cost	$ 1,370	$ 3,071

Pension and Other Postretirem37

Pension and Other Postretirement Plans - Other Postretirement Benefit Cost (Detail) - USD ($) $ in Thousands	3 Months Ended
	Jan. 31, 2016	Jan. 31, 2015
Postretirement Benefit Plans, United States [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 248	$ 275
Interest cost	765	753
Amortization of prior service credit	(66)	(110)
Amortization of net actuarial (gain) loss	212	297
Total benefit cost	1,159	1,215
Postretirement Benefit Plans, International [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	4	8
Interest cost	6	9
Amortization of net actuarial (gain) loss	(6)
Total benefit cost	$ 4	$ 17

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Jan. 31, 2016	Jan. 31, 2015
Income Tax Disclosure [Abstract]
Effective tax rates	12.60%	27.00%
Additional tax benefit relating to retroactive reinstatement of research and development credit	$ 2,025	$ 1,786
Additional tax benefit related to dividends paid from foreign earnings tax credit	$ 6,184

Accumulated Other Comprehensi39

Accumulated Other Comprehensive Loss - Summary of Accumulated Other Comprehensive Loss (Detail) - USD ($) $ in Thousands	3 Months Ended
	Jan. 31, 2016	Jan. 31, 2015
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss), Beginning balance	$ (144,686)
Amortization of prior service cost and net actuarial losses, net of tax	1,631	$ 2,164
Currency translation losses	(11,581)	$ (30,867)
Accumulated other comprehensive income (loss), Ending balance	(154,636)
Cumulative Translation Adjustments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss), Beginning balance	(42,427)
Currency translation losses	(11,581)
Accumulated other comprehensive income (loss), Ending balance	(54,008)
Pension And Postretirement Benefit Plan Adjustments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss), Beginning balance	(102,259)
Amortization of prior service cost and net actuarial losses, net of tax	1,631
Accumulated other comprehensive income (loss), Ending balance	$ (100,628)

Accumulated Other Comprehensi40

Accumulated Other Comprehensive Loss - Summary of Accumulated Other Comprehensive Loss (Parenthetical) (Detail) $ in Thousands	3 Months Ended
	Jan. 31, 2016USD ($)
Accumulated Other Comprehensive Income Loss Net Of Tax [Abstract]
Pension and postretirement plan changes, tax	$ (884)

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Jan. 31, 2016	Jan. 31, 2015	Jan. 31, 2014
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Maximum number of common shares available for grant	2,900
Executive officers and other highly compensated employees salary and annual cash incentive compensation deferrals percentage, maximum	100.00%
Executive officers share-based long-term incentive compensation deferrals percentage, maximum	90.00%
Directors [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expense related to director deferred compensation	$ 39	$ 25
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
Option expiring period	10 years
Compensation expense recognized	$ 2,156	$ 2,468
Options exercisable beginning period	1 year
Unrecognized compensation cost related to nonvested stock option	$ 11,337
Weighted average period expected to be amortized, non vested shares	1 year 7 months 6 days
Weighted-average expected volatility used	29.60%	34.30%
Weighted average grant date fair value of stock options granted	$ 18.23	$ 24.63
Total intrinsic value of options exercised	$ 968	$ 1,097
Cash received from the exercise of stock options	900	832
Tax benefit realized from tax deductions from exercises of stock options	$ 198	319
Stock Options [Member] | Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Maximum rate of stock option	25.00%
Stock Options [Member] | Post November 2012 Option Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Normal retirement age	65 years
Period for options considered to be forfeited for retirees	12 months
Restricted Shares and Restricted Share Units [Member] | Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Grant restricted shares transferred period	3 years
Restricted Shares and Restricted Share Units [Member] | Minimum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Grant restricted shares transferred period	1 year
Restricted Stock [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Weighted average period expected to be amortized, non vested shares	2 years 2 months 12 days
Period for restricted shares and share units considered to be forfeited for retirees	12 months
Unrecognized compensation cost related to nonvested restricted stock	$ 3,527
Expense related to nonvested common shares	506	472
Common share dividends amount included in compensation cost	$ 15	13
Restricted Stock Unit [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Weighted average period expected to be amortized, non vested shares	9 months 18 days
Period for pro-rata vesting of shares or units for non-employee directors	1 year
Unrecognized compensation cost related to nonvested restricted stock	$ 720
Expense related to nonvested common shares	$ 243	$ 243
Performance Share Incentive Awards [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Weighted average grant date fair value	$ 67.69	$ 76.48	$ 69.25
Compensation expense	$ 1,869	$ 1,248
Cumulative amount recorded in shareholders' equity related to Long-Term Incentive Plan	$ 5,737
Periods of performance considered for calculating compensation expense	3 years
Deferred Compensation [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common share dividends amount included in compensation cost	$ 49	$ 39
Executive officers and other highly compensated employees salary and annual cash incentive compensation deferrals percentage, maximum	100.00%
Executive officers share-based long-term incentive compensation deferrals percentage, maximum	90.00%

Stock-Based Compensation - Summ

Stock-Based Compensation - Summarized Activity Related to Stock Options (Detail) - Stock Options [Member] $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Jan. 31, 2016USD ($)$ / sharesshares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of Options, Outstanding, Beginning balance | shares	1,759
Number of Options, Granted | shares	490
Number of Options, Exercised | shares	(27)
Number of Options, Forfeited or expired | shares	(14)
Number of Options, Outstanding, Ending balance | shares	2,208
Number of Options, Vested or expected to vest | shares	2,170
Number of Options, Exercisable | shares	1,304
Weighted-Average Exercise Price Per Share, Outstanding, Beginning balance | $ / shares	$ 50.74
Weighted-Average Exercise Price Per Share, Granted | $ / shares	70.91
Weighted-Average Exercise Price Per Share, Exercised | $ / shares	33.12
Weighted-Average Exercise Price Per Share, Forfeited or expired | $ / shares	63.45
Weighted-Average Exercise Price Per Share, Outstanding, Ending balance | $ / shares	55.35
Weighted-Average Exercise Price Per Share, Vested or expected to vest | $ / shares	55.06
Weighted-Average Exercise Price Per Share, Exercisable | $ / shares	$ 43.47
Aggregate Intrinsic Value, Outstanding | $	$ 25,217
Aggregate Intrinsic Value, Vested or expected to vest | $	25,217
Aggregate Intrinsic Value, Exercisable | $	$ 25,217
Weighted Average Remaining Term, Outstanding	6 years 8 months 12 days
Weighted Average Remaining Term, Vested or expected to vest	6 years 7 months 6 days
Weighted Average Remaining Term, Exercisable	5 years 1 month 6 days

Stock-Based Compensation - Fair

Stock-Based Compensation - Fair Value Assumptions of Stock Options (Detail) - Stock Options [Member]	3 Months Ended
	Jan. 31, 2016	Jan. 31, 2015
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected volatility, Minimum	29.10%	31.60%
Expected volatility, Maximum	30.40%	39.50%
Expected dividend yield	1.54%	1.10%
Risk-free interest rate, Minimum	1.78%	1.70%
Risk-free interest rate, Maximum	1.90%	1.85%
Minimum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected life of the option (in years)	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 life of the option (in years)	6 years 2 months 12 days	6 years 1 month 6 days

Stock-Based Compensation - Su44

Stock-Based Compensation - Summarized Activity Related to Restricted Stock (Detail) - Restricted Stock [Member] shares in Thousands	3 Months Ended
	Jan. 31, 2016$ / sharesshares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of Restricted Shares, Beginning balance | shares	53
Number of Restricted Shares, Granted | shares	30
Number of Restricted Shares, Vested | shares	(23)
Number of Restricted Shares, Ending balance | shares	60
Weighted-Average Grant Date Fair Value, Restricted Shares, Beginning balance | $ / shares	$ 73.23
Weighted-Average Grant Date Fair Value, Granted | $ / shares	70.80
Weighted-Average Grant Date Fair Value, Vested | $ / shares	69.31
Weighted-Average Grant Date Fair Value, Restricted Shares, Ending balance | $ / shares	$ 73.47

Stock-Based Compensation - Su45

Stock-Based Compensation - Summarized Activity Related to Restricted Stock Units (Detail) - Restricted Stock Unit [Member] shares in Thousands	3 Months Ended
	Jan. 31, 2016$ / sharesshares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of Restricted Shares, Beginning balance	0
Number of Restricted Share Units, Granted	13
Number of Restricted Shares, Ending balance	13
Weighted-Average Grant Date Fair Value, Granted | $ / shares	$ 72.01
Weighted-Average Grant Date Fair Value, Restricted Shares, Ending balance | $ / shares	$ 72.01

Stock-Based Compensation - Su46

Stock-Based Compensation - Summarized Activity Related to Director Deferred Compensation Shares (Detail) - Directors [Member] - Deferred Compensation Share Equivalent Units [Member] shares in Thousands	3 Months Ended
	Jan. 31, 2016$ / sharesshares
Deferred Compensation Arrangement With Individual Share Based Payments [Line Items]
Number of Shares, Outstanding, Beginning balance | shares	100
Number of Shares, Dividend equivalents | shares	1
Number of Shares, Distributions | shares	(3)
Number of Shares, Outstanding, Ending balance | shares	98
Weighted-Average Grant Date Fair Value, Beginning balance | $ / shares	$ 36.76
Weighted-Average Grant Date Fair Value, Dividend equivalents | $ / shares	62.41
Weighted-Average Grant Date Fair Value, Distributions | $ / shares	29.09
Weighted-Average Grant Date Fair Value, Ending balance | $ / shares	$ 37.21

Warranties - Additional Informa

Warranties - Additional Information (Detail)	3 Months Ended
	Jan. 31, 2016
Guarantees [Abstract]
Product warranty period	1 year

Warranties - Reconciliation of

Warranties - Reconciliation of Product Warranty Liability (Detail) - USD ($) $ in Thousands	3 Months Ended
	Jan. 31, 2016	Jan. 31, 2015
Guarantees [Abstract]
Beginning balance at October 31	$ 10,537	$ 9,918
Accruals for warranties	2,547	2,996
Warranty payments	(2,357)	(2,661)
Currency effect	(51)	(588)
Ending balance	$ 10,676	$ 9,665

Operating Segments - Additional

Operating Segments - Additional Information (Detail)	3 Months Ended
	Jan. 31, 2016Segment
Segment Reporting [Abstract]
Number of operating segments	3

Operating Segments - Reportable

Operating Segments - Reportable Segments (Detail) - USD ($) $ in Thousands	3 Months Ended
	Jan. 31, 2016		Jan. 31, 2015
Segment Reporting Information [Line Items]
Net external sales	$ 372,220		$ 379,008
Operating profit (loss)	51,978		62,818
Operating Segments [Member]
Segment Reporting Information [Line Items]
Net external sales	372,220		379,008
Operating profit (loss)	51,978		62,818
Operating Segments [Member] | Adhesive Dispensing Systems [Member]
Segment Reporting Information [Line Items]
Net external sales	203,439		194,213
Operating profit (loss)	50,360	[1]	43,327
Operating Segments [Member] | Advanced Technology Systems [Member]
Segment Reporting Information [Line Items]
Net external sales	117,860		132,218
Operating profit (loss)	7,973	[2]	26,818
Operating Segments [Member] | Industrial Coating Systems [Member]
Segment Reporting Information [Line Items]
Net external sales	50,921		52,577
Operating profit (loss)	4,178	[3]	3,764
Corporate [Member]
Segment Reporting Information [Line Items]
Operating profit (loss)	$ (10,533)		$ (11,091)
[1]	Includes $480 of severance and restructuring costs in the three months ended January 31, 2016.
[2]	Includes $510 of severance and restructuring costs in the three months ended January 31, 2016.
[3]	Includes $27 of severance and restructuring costs in the three months ended January 31, 2016.

Operating Segments - Reportab51

Operating Segments - Reportable Segments (Parenthetical) (Detail) $ in Thousands	3 Months Ended
	Jan. 31, 2016USD ($)
Segment Reporting Information [Line Items]
Severance and restructuring costs	$ 1,017
Adhesive Dispensing Systems [Member]
Segment Reporting Information [Line Items]
Severance and restructuring costs	480
Advanced Technology Systems [Member]
Segment Reporting Information [Line Items]
Severance and restructuring costs	510
Industrial Coating Systems [Member]
Segment Reporting Information [Line Items]
Severance and restructuring costs	$ 27

Operating Segments - Reconcilia

Operating Segments - Reconciliation of Segment Operating Income to Consolidated Income Before Income Taxes (Detail) - USD ($) $ in Thousands	3 Months Ended
	Jan. 31, 2016	Jan. 31, 2015
Segment Reporting [Abstract]
Total profit for reportable segments	$ 51,978	$ 62,818
Interest expense	(5,844)	(4,089)
Interest and investment income	138	86
Other - net	802	(102)
Income before income taxes	$ 47,074	$ 58,713

Operating Segments - Sales Info

Operating Segments - Sales Information by Geographic Regions (Detail) - USD ($) $ in Thousands	3 Months Ended
	Jan. 31, 2016	Jan. 31, 2015
Net external sales
Net external sales	$ 372,220	$ 379,008
United States [Member]
Net external sales
Net external sales	117,391	122,824
Americas [Member]
Net external sales
Net external sales	26,707	28,268
Europe [Member]
Net external sales
Net external sales	119,718	108,566
Japan [Member]
Net external sales
Net external sales	19,503	21,533
Asia Pacific [Member]
Net external sales
Net external sales	$ 88,901	$ 97,817

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - Recurring [Member] $ in Thousands	Jan. 31, 2016USD ($)
Assets:
Foreign currency forward contracts	$ 878	[1]
Total assets at fair value	878
Liabilities:
Deferred compensation plans	10,380	[2]
Foreign currency forward contracts	1,807	[1]
Total liabilities at fair value	12,187
Level 2 [Member]
Assets:
Foreign currency forward contracts	878	[1]
Total assets at fair value	878
Liabilities:
Deferred compensation plans	10,380	[2]
Foreign currency forward contracts	1,807	[1]
Total liabilities at fair value	$ 12,187
[1]	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 currency forward contracts are valued using market exchange rates. Foreign currency forward contracts are not designated as hedges.
[2]	Executive officers and other highly compensated employees may defer up to 100 percent of their salary and annual cash incentive award and for executive officers, up to 90 percent of their long-term performance share incentive award, 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 Measurements - Sch55

Fair Value Measurements - Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis (Parenthetical) (Detail)	3 Months Ended
	Jan. 31, 2016
Fair Value Disclosures [Abstract]
Executive officers and other highly compensated employees salary and annual cash incentive compensation deferrals percentage, maximum	100.00%
Executive officers share-based long-term incentive compensation deferrals percentage, maximum	90.00%

Financial Instruments - Additio

Financial Instruments - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Jan. 31, 2016	Jan. 31, 2015
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Maturity of foreign currency forward contracts	90 days
Gains (losses) on foreign currency forward contracts	$ 1,427	$ 388
Gains (losses) in fair value of balance sheet positions denominated in foreign currencies	$ (388)	$ (395)

Financial Instruments - Outstan

Financial Instruments - Outstanding Currency, Forward Exchange Contracts (Detail) $ in Thousands	Jan. 31, 2016USD ($)
Derivative [Line Items]
Fair Market Value of foreign currency derivative contracts	$ (929)
Foreign Currency Forward Contracts [Member] | Sell [Member]
Derivative [Line Items]
Notional Amounts of foreign currency derivative contracts	245,127
Fair Market Value of foreign currency derivative contracts	244,406
Foreign Currency Forward Contracts [Member] | Buy [Member]
Derivative [Line Items]
Notional Amounts of foreign currency derivative contracts	227,534
Fair Market Value of foreign currency derivative contracts	225,884
Euro [Member] | Foreign Currency Forward Contracts [Member] | Sell [Member]
Derivative [Line Items]
Notional Amounts of foreign currency derivative contracts	165,216
Fair Market Value of foreign currency derivative contracts	165,590
Euro [Member] | Foreign Currency Forward Contracts [Member] | Buy [Member]
Derivative [Line Items]
Notional Amounts of foreign currency derivative contracts	67,513
Fair Market Value of foreign currency derivative contracts	67,178
British Pound [Member] | Foreign Currency Forward Contracts [Member] | Sell [Member]
Derivative [Line Items]
Notional Amounts of foreign currency derivative contracts	52,087
Fair Market Value of foreign currency derivative contracts	51,409
British Pound [Member] | Foreign Currency Forward Contracts [Member] | Buy [Member]
Derivative [Line Items]
Notional Amounts of foreign currency derivative contracts	37,824
Fair Market Value of foreign currency derivative contracts	36,776
Japanese Yen [Member] | Foreign Currency Forward Contracts [Member] | Sell [Member]
Derivative [Line Items]
Notional Amounts of foreign currency derivative contracts	23,654
Fair Market Value of foreign currency derivative contracts	23,221
Japanese Yen [Member] | Foreign Currency Forward Contracts [Member] | Buy [Member]
Derivative [Line Items]
Notional Amounts of foreign currency derivative contracts	17,559
Fair Market Value of foreign currency derivative contracts	17,505
Australian Dollar [Member] | Foreign Currency Forward Contracts [Member] | Sell [Member]
Derivative [Line Items]
Notional Amounts of foreign currency derivative contracts	525
Fair Market Value of foreign currency derivative contracts	531
Australian Dollar [Member] | Foreign Currency Forward Contracts [Member] | Buy [Member]
Derivative [Line Items]
Notional Amounts of foreign currency derivative contracts	6,918
Fair Market Value of foreign currency derivative contracts	6,925
Hong Kong Dollar [Member] | Foreign Currency Forward Contracts [Member] | Buy [Member]
Derivative [Line Items]
Notional Amounts of foreign currency derivative contracts	62,663
Fair Market Value of foreign currency derivative contracts	62,446
Singapore Dollar [Member] | Foreign Currency Forward Contracts [Member] | Sell [Member]
Derivative [Line Items]
Notional Amounts of foreign currency derivative contracts	375
Fair Market Value of foreign currency derivative contracts	378
Singapore Dollar [Member] | Foreign Currency Forward Contracts [Member] | Buy [Member]
Derivative [Line Items]
Notional Amounts of foreign currency derivative contracts	11,624
Fair Market Value of foreign currency derivative contracts	11,657
Others [Member] | Foreign Currency Forward Contracts [Member] | Sell [Member]
Derivative [Line Items]
Notional Amounts of foreign currency derivative contracts	3,270
Fair Market Value of foreign currency derivative contracts	3,277
Others [Member] | Foreign Currency Forward Contracts [Member] | Buy [Member]
Derivative [Line Items]
Notional Amounts of foreign currency derivative contracts	23,433
Fair Market Value of foreign currency derivative contracts	$ 23,397

Financial Instruments - Carryin

Financial Instruments - Carrying Amounts and Fair Values of Financial Instruments, Other than Receivables and Accounts Payable (Detail) - USD ($) $ in Thousands	Jan. 31, 2016	Oct. 31, 2015	Jan. 31, 2015	Oct. 31, 2014
Schedule Of Carrying Amounts And Fair Values Of Financial Instruments [Abstract]
Cash and cash equivalents, Carrying Amount	$ 60,736	$ 50,268	$ 40,926	$ 42,314
Notes payable, Carrying Amount	8,946	$ 1,108
Long-term debt, including current maturities, Carrying Amount	1,127,442
Foreign currency forward contracts (net), Carrying Amount	(929)
Cash and cash equivalents, Fair Value	60,736
Notes payable, Fair Value	8,946
Long-term debt, including current maturities, Fair Value	1,126,369
Foreign currency forward contracts (net), Fair Value	$ (929)

Contingencies - Additional Info

Contingencies - Additional Information (Detail) - USD ($) $ in Thousands	Jan. 31, 2016	Oct. 31, 2015
Environmental Remediation Obligations [Abstract]
Accrual for the ongoing operation, maintenance and monitoring obligation at the site	$ 565	$ 565