Photronics (PLAB) 10-K 6 Jan 17 2016 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Oct. 30, 2016	Dec. 28, 2016	May 01, 2016
Document and Entity Information [Abstract]
Entity Registrant Name	PHOTRONICS INC
Entity Central Index Key	810,136
Current Fiscal Year End Date	--10-30
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Entity Public Float			$ 616,765,723
Entity Common Stock, Shares Outstanding		68,325,098
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	FY
Document Type	10-K
Amendment Flag	false
Document Period End Date	Oct. 30, 2016

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Oct. 30, 2016	Nov. 01, 2015
Current assets:
Cash and cash equivalents	$ 314,074	$ 205,867
Accounts receivable, net of allowance of $3,901 in 2016 and $3,301 in 2015	92,636	110,056
Inventories	22,081	24,157
Other current assets	12,795	20,680
Total current assets	441,586	360,760
Property, plant and equipment, net	506,434	547,284
Investment in joint venture	0	93,021
Intangible assets, net	19,854	24,616
Deferred income taxes	16,322	13,083
Other assets	4,071	4,612
Total assets	988,267	1,043,376
Current liabilities:
Current portion of long-term borrowings	5,428	65,495
Accounts payable	48,906	79,143
Payables - related parties	2,743	8,840
Accrued liabilities	24,240	39,214
Total current liabilities	81,317	192,692
Long-term borrowings	62,139	67,120
Deferred income taxes	1,491	2,209
Other liabilities	17,846	19,289
Total liabilities	162,793	281,310
Commitments and contingencies
Equity:
Preferred stock, $0.01 par value, 2,000 shares authorized, none issued and outstanding	0	0
Common stock, $0.01 par value, 150,000 shares authorized, 68,080 shares issued and outstanding at October 30, 2016, 66,602 shares issued and outstanding at November 1, 2015	681	666
Additional paid-in capital	541,093	526,402
Retained earnings	176,260	130,060
Accumulated other comprehensive loss	(7,671)	(10,573)
Total Photronics, Inc. shareholders' equity	710,363	646,555
Noncontrolling interests	115,111	115,511
Total equity	825,474	762,066
Total liabilities and equity	$ 988,267	$ 1,043,376

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	Oct. 30, 2016	Nov. 01, 2015
Current assets:
Accounts receivable, allowance	$ 3,901	$ 3,301
Equity:
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	2,000	2,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	150,000	150,000
Common stock, shares issued (in shares)	68,080	66,602
Common stock, shares outstanding (in shares)	68,080	66,602

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Oct. 30, 2016		Nov. 01, 2015		Nov. 02, 2014
Consolidated Statements of Income [Abstract]
Net sales	$ 483,456	[1],[2]	$ 524,206	[3]	$ 455,527
Cost and expenses:
Cost of sales	(364,750)		(381,070)		(355,181)
Selling, general and administrative	(44,577)		(48,983)		(49,638)
Research and development	(21,654)		(21,920)		(21,913)
Operating income	52,475		72,233		28,795
Other income (expense):
Gains on sales of investments	8,940		0		0
Gain on acquisition	0		0		16,372
Interest expense	(3,365)		(4,990)		(7,247)
Interest and other income (expense), net	2,424		2,797		3,410
Income before income tax provision	60,474		70,040		41,330
Income tax provision	(4,798)		(13,181)		(9,295)
Net income	55,676	[1],[2]	56,859	[3]	32,035
Net income attributable to noncontrolling interests	(9,476)		(12,234)		(6,039)
Net income attributable to Photronics, Inc. shareholders	$ 46,200	[1],[2]	$ 44,625	[3]	$ 25,996
Earnings per share:
Basic (in dollars per share)	$ 0.68	[1],[2]	$ 0.67	[3]	$ 0.42
Diluted (in dollars per share)	$ 0.64	[1],[2]	$ 0.63	[3]	$ 0.41
Weighted-average number of common shares outstanding:
Basic (in shares)	67,539		66,331		61,779
Diluted (in shares)	76,354		78,383		66,679
[1]	Includes $8.8 million gain on sale of investment in a foreign entity.
[2]	Includes tax benefits in Taiwan of $4.8 million primarily related to the recognition of prior period tax benefits and other tax positions no longer deemed necessary.
[3]	Includes expenses of $0.9 million of financing expenses related to the exchange of $57.5 million 3.25% convertible senior notes.

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Oct. 30, 2016		Nov. 01, 2015		Nov. 02, 2014
Consolidated Statements of Comprehensive Income [Abstract]
Net income	$ 55,676	[1],[2]	$ 56,859	[3]	$ 32,035
Other comprehensive income (loss), net of tax of $0:
Foreign currency translation adjustments	6,334		(40,154)		(5,916)
Amortization of cash flow hedge	129		128		128
Other	(589)		(381)		(41)
Net other comprehensive income (loss)	5,874		(40,407)		(5,829)
Comprehensive income	61,550		16,452		26,206
Less: comprehensive income attributable to noncontrolling interests	12,448		4,174		5,238
Comprehensive income attributable to Photronics, Inc. shareholders	$ 49,102		$ 12,278		$ 20,968
[1]	Includes $8.8 million gain on sale of investment in a foreign entity.
[2]	Includes tax benefits in Taiwan of $4.8 million primarily related to the recognition of prior period tax benefits and other tax positions no longer deemed necessary.
[3]	Includes expenses of $0.9 million of financing expenses related to the exchange of $57.5 million 3.25% convertible senior notes.

Consolidated Statements of Com6

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Oct. 30, 2016	Nov. 01, 2015	Nov. 02, 2014
Consolidated Statements of Comprehensive Income [Abstract]
Other comprehensive income (loss), tax	$ 0	$ 0	$ 0

Consolidated Statements of Equi

Consolidated Statements of Equity - USD ($) shares in Thousands, $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income [Member]	Non-Controlling Interests [Member]	Total
Balance at Nov. 03, 2013	$ 611	$ 498,861	$ 59,439	$ 26,403	$ 2,517	$ 587,831
Balance (in shares) at Nov. 03, 2013	61,083
Net income	$ 0	0	25,996	0	6,039	32,035
Other comprehensive income (loss)	0	0	0	(5,028)	(801)	(5,829)
Sale of common stock through employee stock option and purchase plan	$ 3	1,424	0	0	0	1,427
Sale of common stock through employee stock option and purchase plan (in shares)	337
Restricted stock awards vestings and expense	$ 2	1,295	0	0	0	1,297
Restricted stock awards vestings and expense (in shares)	172
Share-based compensation expense	$ 0	2,774	0	0	0	2,774
Acquisition of DPTT	0	(6,291)	0	410	105,403	99,522
Conversion of debt to common stock	$ 43	22,011	0	0	0	22,054
Conversion of debt to common stock (in shares)	4,338
Repurchase of common stock by subsidiary	$ 0	108	0	(11)	(1,714)	(1,617)
Balance at Nov. 02, 2014	$ 659	520,182	85,435	21,774	111,444	739,494
Balance (in shares) at Nov. 02, 2014	65,930
Net income	$ 0	0	44,625	0	12,234	56,859	[1]
Other comprehensive income (loss)	0	0	0	(32,347)	(8,060)	(40,407)
Sale of common stock through employee stock option and purchase plan	$ 5	2,505	0	0	0	2,510
Sale of common stock through employee stock option and purchase plan (in shares)	513
Restricted stock awards vestings and expense	$ 2	1,064	0	0	0	1,066
Restricted stock awards vestings and expense (in shares)	159
Share-based compensation expense	$ 0	2,623	0	0	0	2,623
Repurchase of common stock by subsidiary	0	28	0	0	(107)	(79)
Balance at Nov. 01, 2015	$ 666	526,402	130,060	(10,573)	115,511	762,066
Balance (in shares) at Nov. 01, 2015	66,602
Net income	$ 0	0	46,200	0	9,476	55,676	[2],[3]
Other comprehensive income (loss)	0	0	0	2,902	2,972	5,874
Sale of common stock through employee stock option and purchase plan	$ 6	3,441	0	0	0	3,447
Sale of common stock through employee stock option and purchase plan (in shares)	618
Restricted stock awards vestings and expense	$ 2	1,190	0	0	0	1,192
Restricted stock awards vestings and expense (in shares)	143
Share-based compensation expense	$ 0	2,637	0	0	0	2,637
Conversion of debt to common stock	$ 7	7,431	0	0	0	7,438
Conversion of debt to common stock (in shares)	717
Dividends to noncontrolling interests	$ 0	0	0	0	(11,901)	(11,901)
Return of capital to noncontrolling interest	0	0	0	0	(955)	(955)
Repurchase of common stock by subsidiary	0	(8)	0	0	8	0
Balance at Oct. 30, 2016	$ 681	$ 541,093	$ 176,260	$ (7,671)	$ 115,111	$ 825,474
Balance (in shares) at Oct. 30, 2016	68,080
[1]	Includes expenses of $0.9 million of financing expenses related to the exchange of $57.5 million 3.25% convertible senior notes.
[2]	Includes $8.8 million gain on sale of investment in a foreign entity.
[3]	Includes tax benefits in Taiwan of $4.8 million primarily related to the recognition of prior period tax benefits and other tax positions no longer deemed necessary.

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Oct. 30, 2016		Nov. 01, 2015		Nov. 02, 2014
Cash flows from operating activities:
Net income	$ 55,676	[1],[2]	$ 56,859	[3]	$ 32,035
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of property, plant and equipment	77,613		75,684		72,859
Amortization of deferred financing costs and intangible assets	5,228		6,729		7,277
Gains on sales of investments	(8,940)		0		0
Gain on acquisition	0		0		(16,372)
Share-based compensation	3,827		3,689		4,071
Deferred income taxes	(3,816)		3,401		4,215
Changes in assets and liabilities:
Accounts receivable	18,807		(21,815)		5,271
Inventories	2,268		(2,893)		(2,552)
Other current assets	7,936		(2,557)		1,781
Accounts payable, accrued liabilities and other	(36,462)		14,098		(12,224)
Net cash provided by operating activities	122,137		133,195		96,361
Cash flows from investing activities:
Purchases of property, plant and equipment	(50,147)		(104,033)		(91,085)
Proceeds from sales of investments	101,853		0		0
Cash from acquisition	0		0		4,508
Purchases of intangible assets	(13)		(771)		(364)
Other	597		499		(544)
Net cash provided by (used in) investing activities	52,290		(104,305)		(87,485)
Cash flows from financing activities:
Repayments of long-term borrowings	(57,609)		(9,571)		(29,782)
Dividends paid to noncontrolling interests	(11,890)		0		0
Return of capital to noncontrolling interests	(966)		0		0
Proceeds from share-based arrangements	3,463		2,651		1,298
Payments of deferred financing fees	0		0		(346)
Other	(20)		(179)		(711)
Net cash used in financing activities	(67,022)		(7,099)		(29,541)
Effects of exchange rate changes on cash and cash equivalents	802		(8,853)		(2,021)
Net increase (decrease) in cash and cash equivalents	108,207		12,938		(22,686)
Cash and cash equivalents at beginning of year	205,867		192,929		215,615
Cash and cash equivalents at end of year	314,074		205,867		192,929
Supplemental disclosure of non-cash information:
Accrual for property, plant and equipment purchased during year	7,866		25,858		28,672
Conversion of debt to common stock	7,439		0		22,054
Noncash net assets from acquisition	$ 0		$ 0		$ 110,211
[1]	Includes $8.8 million gain on sale of investment in a foreign entity.
[2]	Includes tax benefits in Taiwan of $4.8 million primarily related to the recognition of prior period tax benefits and other tax positions no longer deemed necessary.
[3]	Includes expenses of $0.9 million of financing expenses related to the exchange of $57.5 million 3.25% convertible senior notes.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Oct. 30, 2016
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Business Photronics, Inc. and its subsidiaries ("Photronics", the "Company", “we”, or “us”) is one of the world's leading manufacturers of photomasks, which are high precision photographic quartz plates containing microscopic images of electronic circuits. Photomasks are a key element in the manufacture of semiconductors and flat panel displays ("FPDs"), and are used as masters to transfer circuit patterns onto semiconductor wafers and flat panel substrates during the fabrication of integrated circuits ("ICs") and a variety of FPDs and, to a lesser extent, other types of electrical and optical components. The Company currently operates principally from nine manufacturing facilities; two of which are located in Europe, three in Taiwan, one in Korea, and three in the United States. In August 2016 the Company announced its plans to build a research and development and manufacturing facility in Xiamen, China, with construction commencing in 2017 and production estimated to start in late 2018. See Note 21 for additional information. Consolidation The accompanying consolidated financial statements include the accounts of Photronics, Inc. and its majority-owned subsidiaries that the Company controls. All intercompany balances and transactions have been eliminated in consolidation. Estimates and Assumptions The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect amounts reported in them. Estimates are based on historical experience and on various assumptions that are believed to be reasonable under the circumstances. The Company's estimates are based on the facts and circumstances available at the time they are made. Actual results reported by the Company may differ from such estimates. The Company reviews these estimates periodically and reflects the effect of revisions in the period in which they are determined. Fiscal Year The Company's fiscal year ends on the Sunday closest to October thirty-first, and, as a result, a 53-week year occurs every 5 to 6 years. Fiscal years 2016, 2015 and 2014 each included 52 weeks. Cash and Cash Equivalents Cash and cash equivalents include cash and highly liquid investments purchased with an original maturity of 3 months or less. The carrying values of cash equivalents approximate their fair values due to the short-term maturities of these instruments. Inventories Inventories are stated at the lower of cost, determined under the first-in, first-out ("FIFO") method, or market. Presented below are the components of inventory at the balance sheet dates: October 30, 2016 November 1, 2015 Finished goods $ 142 $ 861 Work in process 2,987 4,177 Raw materials 18,952 19,119 $ 22,081 $ 24,157 Property, Plant and Equipment Property, plant and equipment, except as explained below under "Impairment of Long-Lived Assets," are stated at cost less accumulated depreciation and amortization. Repairs and maintenance, as well as renewals and replacements of a routine nature, are charged to operations as incurred, while those that improve or extend the lives of existing assets are capitalized. Upon sale or other disposition, the cost of the asset and its related accumulated depreciation are removed from the accounts, and any resulting gain or loss is reflected in earnings. Depreciation and amortization, substantially all of which are included in cost of sales, are computed using the straight-line method over the estimated useful lives of the related assets. Buildings and improvements are depreciated over 15 to 40 years, machinery and equipment over 3 to 10 years and, furniture, fixtures and office equipment over 3 to 5 years. Leasehold improvements are amortized over the life of the lease or the estimated useful life of the improvement, whichever is less. Judgment and assumptions are used in establishing estimated useful lives and depreciation periods. The Company also uses judgment and assumptions as it periodically reviews property, plant and equipment for any potential impairment in carrying values whenever events such as a significant industry downturn, plant closures, technological obsolescence, or other change in circumstances indicate that their carrying amounts may not be recoverable. Intangible Assets Intangible assets consist primarily of a technology license agreement and acquisition-related intangibles. These assets, except as explained below, are stated at fair value as of the date acquired less accumulated amortization. Amortization is calculated based on the estimated useful lives of the assets, which range from 3 to 15 years, using the straight-line method or another method that more fairly represents the utilization of the assets. The Company periodically evaluates the remaining useful lives of its intangible assets to determine whether events or circumstances warrant a revision to the remaining periods of amortization. In the event that the estimate of an intangible asset’s remaining useful life has changed, the remaining carrying amount of the intangible asset is amortized prospectively over that revised remaining useful life. If it is determined that an intangible asset has an indefinite useful life, that intangible asset would be subject to impairment testing annually or whenever events or circumstances indicate that the carrying value may not, based on future undiscounted cash flows or market factors, be recoverable, and an impairment loss would be recorded in the period so determined. The measurement of the impairment loss would be based on the fair value of the intangible asset. Impairment of Long-Lived Assets Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. Determination of recoverability is based on the Company's judgment and estimates of undiscounted future cash flows resulting from the use of the assets and their eventual disposition. Measurement of an impairment loss for long-lived assets that management expects to hold and use is based on the fair value of the assets. The carrying values of assets determined to be impaired are reduced to their estimated fair values. Fair values of any impaired assets would generally be determined using a market or income approach. Business Combinations When acquiring other businesses or participating in mergers or joint ventures in which the Company is deemed to be the acquirer, the Company generally recognizes identifiable assets acquired, liabilities assumed and any noncontrolling interests at their acquisition date fair values, and separately from any goodwill that may be required to be recognized. Goodwill, when recognizable, would be measured as the excess amount of any consideration transferred, which is generally measured at fair value, over the acquisition date fair values of the identifiable assets acquired and liabilities assumed. Accounting for such transactions requires the Company’s management to make significant assumptions and estimates and, although the Company believes any estimates and assumptions it makes to be reasonable and appropriate at the time they are made, unanticipated events and circumstances may arise that affect their accuracy, which may cause actual results to differ from those estimated by the Company. When required, the Company will adjust the values of the assets acquired and liabilities assumed against the acquisition gain or goodwill, as initially recorded, for a period of up to one year after the transaction. Costs incurred to effect a merger or acquisition, such as legal, accounting, valuation and other third party costs, as well as internal general and administrative costs incurred are charged to expense in the periods incurred. Costs incurred to issue any debt and equity securities are recognized in accordance with other applicable generally accepted accounting principles. Investments in Joint Ventures The financial results of investments in joint ventures of which the Company has a controlling financial interest are included in the Company’s consolidated financial statements. Investments in joint ventures over which the Company has the ability to exercise significant influence and that, in general, are at least 20 percent owned are accounted for under the equity method. An impairment loss would be recognized whenever a decrease in the fair value of such an investment below its carrying amount is determined to be other than temporary. In judging "other than temporary," the Company would consider the length of time and the extent to which the fair value of the investment has been less than the carrying amount of the investment, the near-term and longer-term operating and financial prospects of the investee, and the Company's longer-term intent of retaining its investment in the investee. Variable Interest Entities The Company accounts for the investments it makes in certain legal entities in which equity investors do not have 1) sufficient equity at risk for the legal entity to finance its activities without additional subordinated financial support or, 2) as a group, the holders of the equity investment at risk do not have either the power, through voting or similar rights, to direct the activities of the legal entity that most significantly impact the entity’s economic performance or, 3) the obligation to absorb the expected losses of the legal entity or the right to receive expected residual returns of the legal entity as “variable interest entities”, or “VIEs”. The Company would consolidate the results of any such entity in which it determined that it has a controlling financial interest. The Company would have a “controlling financial interest” in such an entity when the Company has both the power to direct the activities that most significantly affect the VIE’s economic performance and the obligation to absorb the losses of, or right to receive the benefits from, the VIE that could be potentially significant to the VIE. On a quarterly basis, the Company reassesses whether it has a controlling financial interest in any investments it has in these certain legal entities. The Company accounts for investments it makes in VIEs in which it has determined that it does not have a controlling financial interest but has significant influence over and holds at least a 20 percent ownership interest using the equity method. Any such investment not meeting the parameters to be accounted under the equity method would be accounted for using the cost method unless the investment had a readily determinable fair value, at which it would then be reported. Income Taxes The income tax provision is computed on the basis of the various tax jurisdictions' income or loss before income taxes. Deferred income taxes reflect the tax effects of differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes, as well as the tax effects of net operating losses and tax credit carryforwards. The Company uses judgment and assumptions to determine if valuation allowances for deferred income tax assets are required, if their realization is not more likely than not, by considering future market growth, forecasted operations, future taxable income, and the amount of earnings in the tax jurisdictions in which it operates. The Company considers income taxes in each of the tax jurisdictions in which it operates in order to determine its effective income tax rate. Current income tax exposure is identified and temporary differences resulting from differing treatments of items for tax and financial reporting purposes are assessed. These differences result in deferred tax assets and liabilities, which are included in the Company's consolidated balance sheets. Additionally, we evaluate the potential realization of deferred income tax assets from future taxable income and establish valuation allowances if their realization is deemed not more likely than not. Accordingly, income taxes charged against earnings may have been impacted by changes in the valuation allowance. Significant management estimates and judgment are required in determining any valuation allowances recorded against net deferred tax assets. The Company accounts for uncertain tax positions by recording a liability for unrecognized tax benefits resulting from uncertain tax positions taken, or expected to be taken, in its tax returns. We include any applicable interest and penalties related to uncertain tax positions in our income tax provision. Earnings Per Share Basic earnings per share ("EPS") is based on the weighted-average number of common shares outstanding for the period, excluding any dilutive common share equivalents. Diluted EPS reflects the potential dilution that could occur if certain share-based payment awards or financial instruments were exercised, earned or converted. Share-Based Compensation The Company recognizes share-based compensation expense over the service period that the awards are expected to vest. Share-based compensation expense includes the estimated effects of forfeitures, which are adjusted over the requisite service period to the extent actual forfeitures differ, or are expected to differ, from such estimates. Changes in estimated forfeitures are recognized in the period of change and will also impact the amount of expense to be recognized in future periods. Determining the appropriate option pricing model, calculating the grant date fair value of share-based awards and estimating forfeiture rates requires considerable judgment, including the estimations of stock price volatility and the expected term of options granted. The Company uses the Black-Scholes option pricing model to value employee stock options. We estimate stock price volatility based on daily averages of our common stock’s historical volatility over a term approximately equal to the estimated time period the grant will remain outstanding. The expected term of options and forfeiture rate assumptions are derived from historical data. Research and Development Research and development costs are expensed as incurred, and consist primarily of global development efforts related to high-end process technologies for advanced sub-wavelength reticle solutions for IC photomask technologies. Research and development expenses also include the amortization of the estimated remaining value of a technology license agreement that the Company was a party to with Micron Technology, Inc. (“Micron”). Under this technology license agreement, the Company had access to certain photomask technology developed by Micron, which it retains the right to use in perpetuity. Foreign Currency Translation The Company's international subsidiaries maintain their accounts in their respective local currencies. Assets and liabilities of such subsidiaries are translated to U.S. dollars at year-end exchange rates. Income and expenses are translated at average rates of exchange prevailing during the year. Foreign currency translation adjustments are accumulated and reported in accumulated other comprehensive income, a component of equity. The effects of changes in exchange rates on foreign currency transactions, which are included in interest and other income (expense), net were a net gain/(loss) of $(0.3) million, $2.5 million and $1.4 million in fiscal years 2016, 2015 and 2014, respectively. Noncontrolling Interests Noncontrolling interests represents the minority shareholders' proportionate share in the equity of the Company's two majority-owned subsidiaries, Photronics DNP Mask Corporation ("PDMC") in Taiwan, of which noncontrolling interests owned 49.99% as of October 30, 2016 and November 1, 2015 and PK Ltd. ("PKL") in Korea of which noncontrolling shareholders owned approximately 0.3% and 0.2% as of October 30, 2016 and November 1, 2015, respectively. Revenue Recognition The Company recognizes revenue when there is persuasive evidence that an arrangement exists, delivery has occurred, the sales price is fixed or determinable, and collectability is reasonably assured. Delivery is determined by the shipping terms of the individual sales transactions. For sales with FOB destination or similar shipping terms, delivery occurs when the Company’s product reaches its destination and is received by the customer. For sales with FOB shipping point terms, delivery occurs when the Company’s product is received by the common carrier. The Company uses judgment when estimating the effect on revenue of discounts and sales incentives, both of which are accrued when the related revenue is recognized. The Company reports its revenues net of any sales taxes billed to its customers. Product Warranty For a 30-day period, the Company warrants that items sold will conform to customer specifications. However, the Company’s liability is limited to the repair or replacement of the photomasks at its sole option. We inspect photomasks for conformity to customer specifications prior to shipment. Accordingly, customer claims related to items under warranty have historically been insignificant. The Company’s warranty policy includes accepting returns of products with defects, or products that have not been produced to precise customer specifications.

ACQUISITION OF DNP PHOTOMASK TE

ACQUISITION OF DNP PHOTOMASK TECHNOLOGY TAIWAN CO., LTD.	12 Months Ended
	Oct. 30, 2016
ACQUISITION OF DNP PHOTOMASK TECHNOLOGY TAIWAN CO., LTD. [Abstract]
ACQUISITION OF DNP PHOTOMASK TECHNOLOGY TAIWAN CO., LTD.	NOTE 2 – ACQUISITION OF DNP PHOTOMASK TECHNOLOGY TAIWAN CO., LTD. On April 4, 2014, DPTT merged into PSMC, the Company’s IC manufacturing subsidiary located in Taiwan, to form PDMC. Throughout this report the merger of DPTT into PSMC is referred to as the “DPTT Acquisition.” In connection with the DPTT Acquisition, the Company transferred consideration with a fair value of $98.3 million. The Company owns 50.01 percent of PDMC and includes its financial results in its consolidated financial statements, while DNP owns the remaining 49.99 percent of PDMC. The Company also has the ability to appoint the majority of the directors of PDMC, including the chairman of its board of directors, select its management responsible for implementing its policies and procedures, and establish its operating and capital decisions and policies. Photronics determined it has control of PDMC by virtue of its tie-breaking voting rights within PDMC’s Board of Directors, thereby giving it the power to direct the activities of PDMC that most significantly impact its economic performance, including its decision making authority in the ordinary course of business. The DPTT Acquisition was the result of the Company’s desire to combine the strengths in logic and memory photomask technologies of PSMC and DPTT in order to enhance its capability with customers in the region. The DPTT Acquisition met the conditions of a business combination as defined by Accounting Standards Codification (“ASC”) 805 and, as such, was accounted for under ASC 805 using the acquisition method of accounting. ASC 805 defines the three elements of a business as Input, Process and Output. As a result of the DPTT Acquisition, Photronics acquired the machinery and equipment utilized in the processes to manufacture product, the building that houses the entire operation and the processes needed to manufacture the product, all previously owned by DPTT. The former DPTT employees hired by Photronics in connection with the acquisition brought with them the skills, experience and know-how necessary to provide the operational processes that, when applied to the acquired assets, represent processes being applied to inputs to create outputs. Having met all three elements of a business as defined in ASC 805, the Company determined that the DPTT Acquisition should be accounted for as a business combination. The following table summarizes the fair values of assets acquired and liabilities assumed of DPTT, the fair value of the noncontrolling interests and consideration given for DPTT at the acquisition date. Cash and cash equivalents $ 4,508 Accounts receivable (gross amount of $28,560, of which $500 was estimated to be uncollectable) 28,060 Inventory 1,279 Deferred tax asset 9,787 Other current assets 11,517 Property, plant and equipment 95,431 Identifiable intangible assets 1,552 Other long-term assets 1,328 Accounts payable and accrued expenses (32,410 ) Deferred tax liability (3,042 ) Other long-term liabilities (3,291 ) Total net assets acquired 114,719 Noncontrolling interests retained by DNP 57,348 57,371 Consideration – 49.99% of fair value of PSMC 40,999 Gain on acquisition $ 16,372 In addition to recording the fair values of the net assets acquired, the Company also recorded a gain on acquisition of $16.4 million in the three month period ended May 4, 2014, in accordance with ASC 805 using the acquisition method of accounting. The gain on acquisition was primarily due to the difference between the market values of the acquired real estate and personal property exceeding the fair value of the consideration transferred. In addition, a deferred tax liability of $3.0 million was recorded in the opening balance sheet, which had the effect of reducing the gain on acquisition to $16.4 million. Prior to recording the gain, the Company reassessed whether it had correctly identified all of the assets acquired and all of the liabilities assumed. Additionally, the Company also reviewed the procedures used to measure the amounts of the identifiable assets acquired, liabilities assumed and consideration transferred. The fair value of the first component of consideration represented 49.99 percent of the fair value of PSMC, and was based on recent prices paid by the Company to acquire outstanding shares of PSMC (prior to the acquisition). As a result of the merger, the Company acquired the net assets of DPTT having a fair value of $114.7 million, less noncontrolling interests of $57.3 million retained by DNP, and transferred consideration with a fair value of $41.0 million, which resulted in a gain of $16.4 million. The fair value of the total consideration transferred as of the acquisition date was $98.3 million, comprised of the 49.99% noncontrolling interest in DPTT of $57.3 million, and 49.99% of the fair value of PSMC of $41.0 million (112.9 million shares, or 49.99% of the outstanding common stock of PSMC). We estimated the $114.7 million fair value of DPTT as of the acquisition date by applying an income approach as our valuation technique. Our income approach followed a discounted cash flow method, which applied our best estimates of future cash flows and an estimated terminal value discounted to present value at a rate of return taking into account the relative risk of the cash flows. To confirm the reasonableness of the value derived from the income approach, we also analyzed the values of comparable companies which are publicly traded. The acquisition date fair value of the property, plant and equipment of DPTT was $95.4 million, which was determined by utilizing the cost and, to a lesser extent, the market approach, based on an in-use premise of value. Inputs utilized by the Company to determine fair values of DPTT’s property, plant and equipment included a cost approach, which was adjusted for depreciation and condition for equipment, and adjusted for depreciation and local market conditions for real property. The noncontrolling interest of DPTT was calculated using the 49.99% of its total fair value of $114.7 million. The Company also used a market approach to corroborate the enterprise value of DPTT. This fair value measurement was based on significant inputs that are not observable in the market and thus represented a fair value measurement categorized within Level 3 of the fair value hierarchy. Key assumptions included local and current construction replacement cost multipliers, amounts of ancillary replacement costs, physical deterioration, and economic and functional obsolescence to adjust the current replacement costs by, as well as the estimated economic lives of the assets. Identifiable intangible assets acquired were primarily customer relationships, which represented the fair value of relationships and agreements DPTT had in place at the date of the merger. The customer relationships had a fair value of $1.5 million at the acquisition date, determined by using the multi-period excess earnings method, and are being amortized over a twelve year estimated useful life. The acquisition date fair value of the remainder of the identifiable assets acquired and liabilities assumed were equivalent to, or did not materially differ from, their carrying values. Revenues and net income of PDMC included in the Company’s financial results from the April 4, 2014, acquisition date through November 2, 2014, were $101.8 million and $6.0 million, respectively. Acquisition costs related to the merger were $2.5 million in fiscal year 2014, and are included in selling, general, and administrative expenses in the consolidated statement of income. Unaudited Pro Forma Financial Information The following unaudited pro forma financial information presents financial information as if the DPTT acquisition had occurred as of the beginning of fiscal year 2014. The pro forma earnings for fiscal year 2014 were adjusted to exclude the above mentioned $2.5 million non-recurring acquisition related costs and the gain on acquisition of $16.4 million. Other material non-recurring pro forma adjustments made to arrive at the below earnings amounts included the add back of additional depreciation recorded against DPTT long-lived assets of $6.6 million. The pro forma information presented does not purport to represent results that would have been achieved had the merger occurred as of the beginning of the earliest period presented, or to have been indicative of the Company’s future financial performance. Year Ended November 2, 2014 Revenues $ 499,968 Net income 23,969 Net income attributable to Photronics, Inc. shareholders 12,169 Diluted earnings per share 0.19

PROPERTY, PLANT AND EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT	12 Months Ended
	Oct. 30, 2016
PROPERTY, PLANT AND EQUIPMENT [Abstract]
PROPERTY, PLANT AND EQUIPMENT	NOTE 3 - PROPERTY, PLANT AND EQUIPMENT Property, plant and equipment consists of the following: October 30, 2016 November 1, 2015 Land $ 8,036 $ 8,172 Buildings and improvements 121,873 121,472 Machinery and equipment 1,475,755 1,458,623 Leasehold improvements 19,224 18,856 Furniture, fixtures and office equipment 12,700 12,700 Construction in progress 23,961 6,657 1,661,549 1,626,480 Less: Accumulated depreciation and amortization 1,155,115 1,079,196 $ 506,434 $ 547,284 Property under capital leases are included in above property, plant and equipment as follows: October 30, 2016 November 1, 2015 Machinery and equipment $ 34,917 $ 56,245 Less accumulated amortization 10,352 16,054 $ 24,565 $ 40,191

INTANGIBLE ASSETS

INTANGIBLE ASSETS	12 Months Ended
	Oct. 30, 2016
INTANGIBLE ASSETS [Abstract]
INTANGIBLE ASSETS	NOTE 4 - INTANGIBLE ASSETS Amortization expense of the Company’s finite lived intangible assets was $4.8 million, $6.0 million and $5.8 million in fiscal years 2016, 2015 and 2014, respectively. Intangible assets consist of: As of October 30, 2016 Gross Amount Accumulated Amortization Net Amount Technology license agreement $ 59,616 $ (41,400 ) $ 18,216 Customer relationships 8,657 (7,522 ) 1,135 Software and other 6,444 (5,941 ) 503 $ 74,717 $ (54,863 ) $ 19,854 As of November 1, 2015 Technology license agreement $ 59,616 $ (37,426 ) $ 22,190 Customer relationships 8,616 (7,229 ) 1,387 Supply agreements 6,959 (6,828 ) 131 Software and other 6,577 (5,669 ) 908 $ 81,768 $ (57,152 ) $ 24,616 The weighted-average amortization period for intangible assets acquired in fiscal years 2016 and 2015 is three years, which is comprised of software and other intangible assets that have weighted-average amortization periods of three years. Intangible asset amortization over the next five years is estimated to be as follows: Fiscal Years: 2017 $ 4,557 2018 4,130 2019 4,092 2020 4,092 2021 2,436

JOINT VENTURE, TECHNOLOGY LICEN

JOINT VENTURE, TECHNOLOGY LICENSE AND OTHER AGREEMENTS WITH MICRON TECHNOLOGY, INC.	12 Months Ended
	Oct. 30, 2016
JOINT VENTURE, TECHNOLOGY LICENSE AND OTHER AGREEMENTS WITH MICRON TECHNOLOGY, INC. [Abstract]
JOINT VENTURE, TECHNOLOGY LICENSE AND OTHER AGREEMENTS WITH MICRON TECHNOLOGY, INC.	NOTE 5 - JOINT VENTURE, TECHNOLOGY LICENSE AND OTHER AGREEMENTS WITH MICRON TECHNOLOGY, INC. In May 2006, Photronics and Micron Technology, Inc. ("Micron") entered into the MP Mask joint venture (“MP Mask”), which developed and produced photomasks for leading-edge and advanced next generation semiconductors. At the time of the formation of the joint venture, the Company also entered into an agreement to license photomask technology developed by Micron and certain supply agreements. In May 2016 the Company sold its investment in MP Mask to Micron for $93.1 million and recorded a gain on the sale of $0.1 million, which is included in the Company’s 2016 consolidated statement of income in Interest and other income (expense), net. On that same date a supply agreement commenced between the Company and Micron, which provides that we will be the majority outsourced supplier of Micron’s photomasks and related services. The supply agreement has a one year term, subject to mutually agreeable renewals. In addition, the Company forevermore has the rights to use technology under the prior technology license agreement. This joint venture was a variable interest entity ("VIE") (as that term is defined in ASC 810) because all costs of the joint venture were passed on to the Company and Micron through purchase agreements they had entered into with the joint venture, and it was dependent upon the Company and Micron for any additional cash requirements. On a quarterly basis the Company reassessed whether its interest in MP Mask gave it a controlling financial interest in this VIE. The purpose of this quarterly reassessment was to identify the primary beneficiary (which is defined in ASC 810 as the entity that consolidates a VIE) of the VIE. As a result of the reassessments in fiscal year 2016, the Company determined that Micron remained the primary beneficiary of the VIE, by virtue of its tie-breaking voting rights within MP Mask’s Board of Managers, thereby having given it the power to direct the activities of MP Mask that most significantly impacted its economic performance, including its decision making authority in the ordinary course of business and its purchasing the majority of products produced by the VIE. The Company utilized MP Mask for both high-end IC photomask production and research and development purposes. MP Mask charged its variable interest holders based on their actual usage of its facility and charged separately for any research and development activities it engaged in at the requests of its owners. MP Mask was governed by a Board of Managers appointed by Micron and the Company. Since MP Mask's inception, Micron, as a result of its majority ownership, had held majority voting power on the Board of Managers. The voting power held by each party was subject to change as ownership interests changed. Under the MP Mask joint venture operating agreement, the Company may have been required to make additional capital contributions to MP Mask up to the maximum amount defined in the operating agreement. However, had the Board of Managers determined that further additional funding was required, MP Mask would have pursued its own financing. If MP Mask was unable to obtain its own financing, it may have requested additional capital contributions from the Company. Had the Company chosen not to make a requested contribution to MP Mask, its ownership percentage may have been reduced. MP Mask did not request, and the Company did not make, any contributions to MP Mask in fiscal years 2016 or 2015 and it did not receive any distributions (other than upon its sale of its investment to Micron in fiscal year 2016) from MP Mask during those fiscal years. The Company's investment in the VIE, which represented its maximum exposure to loss, was $93.0 million at November 1, 2015. This amount is reported in the Company's fiscal year 2015 consolidated balance sheet as Investment in joint venture. The Company recorded losses from operations from its investment in MP Mask of $0.1 million in fiscal years 2016 and 2015 and recorded no income or loss from the investment in fiscal year 2014. Income (loss) from MP Mask is included in Interest and other income, net, in the consolidated statements of income. The Company, in 2016, recorded $0.4 million of commission revenue earned under the supply agreements it had with Micron and MP Mask, and amortization of $0.1 million of the related supply agreement intangible asset. In 2016 the Company also recorded cost of sales in the amount of $5.7 million for photomasks produced by MP Mask for the Company's customers, and incurred expenses of $0.5 million for research and development activities and other goods and services purchased from MP Mask by the Company. As of November 1, 2015, the Company owed MP Mask $4.3 million and had a receivable from Micron of $6.4 million, both primarily related to the aforementioned supply agreements. The Company, in 2015, recorded $0.8 million of commission revenue earned under the supply agreements it had with Micron and MP Mask, and amortization of $0.2 million of the related supply agreement intangible asset. In 2015 the Company also recorded cost of sales in the amount of $4.8 million for photomasks produced by MP Mask for the Company's customers, and incurred expenses of $3.1 million for research and development activities and other goods and services purchased from MP Mask by the Company. As of November 2, 2014, the Company owed MP Mask $4.2 million and had a receivable from Micron of $6.8 million, both primarily related to the aforementioned supply agreements. The Company, in 2014, recorded $1.2 million of commission revenue earned under the supply agreements it had with Micron and MP Mask, and amortization of $0.2 million of the related supply agreement intangible asset. In 2014 the Company also recorded cost of sales in the amount of $3.2 million for photomasks produced by MP Mask for the Company's customers, and incurred expenses of $1.6 million for research and development activities and other goods and services purchased from MP Mask by the Company. In 2014 the Company purchased equipment from MP Mask for $1.3 million. Summarized financial information of MP Mask is presented below. The financial results of 2016 are through May 5, 2016, the date of the sale of the Joint Venture. As of Fiscal Year End 2016 2015 Current assets $ - $ 30,567 Noncurrent assets - 173,840 Current liabilities - 18,234 Noncurrent liabilities - - Fiscal Year 2016 2015 2014 Net sales $ 49,626 $ 96,068 $ 81,399 Gross profit 2,736 1,215 3,427 Net income (loss) - (151 ) 1,259

ACCRUED LIABILITIES

ACCRUED LIABILITIES	12 Months Ended
	Oct. 30, 2016
ACCRUED LIABILITIES [Abstract]
ACCRUED LIABILITIES	NOTE 6 - ACCRUED LIABILITIES Accrued liabilities include salaries, wages and related benefits of $8.2 million, income taxes of $6.2 million and other accruals totaling $9.8 million at October 30, 2016, and salaries, wages and related benefits of $14.3 million, an acquisition liability of $7.1 million and other accruals totaling $17.8 million at November 1, 2015.

LONG-TERM BORROWINGS

LONG-TERM BORROWINGS	12 Months Ended
	Oct. 30, 2016
LONG-TERM BORROWINGS [Abstract]
LONG-TERM BORROWINGS	NOTE 7 - LONG-TERM BORROWINGS Long-term borrowings consist of the following: October 30, 2016 November 1, 2015 3.25% convertible senior notes due in April 2019 $ 57,500 $ 57,500 3.25% convertible senior notes due in April 2016 - 57,500 2.77% capital lease obligation payable through July 2018 10,067 15,346 3.09% capital lease obligation payable through March 2016 - 2,269 67,567 132,615 Less current portion 5,428 65,495 $ 62,139 $ 67,120 In April 2016 $57.5 million of the Company’s senior convertible notes matured. The Company repaid $50.1 million to noteholders and issued approximately 0.7 million shares to noteholders that elected to convert their notes to common stock. The notes were exchanged at the rate of approximately 96 shares per $1,000 note principle, equivalent to a conversion rate of $10.37 per share. In January 2015 the Company privately exchanged $57.5 million in aggregate principal amount of its 3.25% convertible senior notes with a maturity date of April 1, 2016, for new 3.25% convertible senior notes with an aggregate principal amount of $57.5 million with a maturity date of April 1, 2019. The conversion rate of the new notes is the same as that of the exchanged notes, which were issued in March 2011 with a conversion rate of approximately 96 shares of common stock per $1,000 note principal, equivalent to a conversion price of $10.37 per share of common stock, and is subject to adjustment upon the occurrence of certain events, which are described in the indenture dated January 22, 2015. Note holders may convert each $1,000 principal amount of notes at any time prior to the close of business on the second scheduled trading day immediately preceding April 1, 2019, and the Company is not required to redeem the notes prior to their maturity date. Interest on the notes accrues in arrears, and is paid semiannually through the notes’ maturity date. The Company’s credit facility, which expires in December 2018, has a $50 million limit with an expansion capacity to $75 million, and is secured by substantially all of the Company’s assets located in the United States and common stock the Company owns in certain of its foreign subsidiaries. The credit facility precludes the Company from paying cash dividends, and is subject to a minimum interest coverage ratio, total leverage ratio and minimum unrestricted cash balance financial covenants, all of which the Company was in compliance with at October 30, 2016. The Company had no outstanding borrowings against the credit facility at October 30, 2016, and $50 million was available for borrowing. The interest rate on the credit facility (1.78% at October 30, 2016) is based on the Company’s total leverage ratio at LIBOR plus a spread, as defined in the credit facility. In August 2013 a $26.4 million principal amount, five year capital lease commenced to fund the purchase of a high-end lithography tool. Payments under the capital lease, which bears interest at 2.77%, are $0.5 million per month through July 2018. The lease is subject to a cross default with cross acceleration provision related to certain nonfinancial covenants incorporated in the Company’s credit facility. As of October 30, 2016, the total amount payable through the end of the lease term was $10.3 million, of which $10.1 million represented principal and $0.2 million represented interest. In April 2011 the Company entered into a five year, $21.2 million capital lease for manufacturing equipment. Payments under the lease, which bore interest at 3.09%, were $0.4 million per month through March 2016. The lease included a cross default with cross acceleration provision related to certain non-financial covenants incorporated in the Company's credit facility. In March 2016 the Company paid the final installment on this lease and assumed ownership of the related equipment. As of October 30, 2016, minimum lease payments under the Company's capital lease obligation was as follows: Fiscal Years: 2017 $ 5,638 2018 4,698 10,336 Less interest 269 Net minimum lease payments under capital lease 10,067 Less current portion of net minimum lease payments 5,428 Long-term portion of minimum lease payments $ 4,639 Interest payments were $3.2 million, $4.4 million, and $6.3 million in fiscal years 2016, 2015 and 2014, respectively, and included deferred financing cost payments of $0.3 million in fiscal year 2014.

OPERATING LEASES

OPERATING LEASES	12 Months Ended
	Oct. 30, 2016
OPERATING LEASES [Abstract]
OPERATING LEASES	NOTE 8 - OPERATING LEASES The Company leases various real estate and equipment under non-cancelable operating leases, for which rent expense was $2.8 million in each of fiscal years 2016, 2015 and 2014. At October 30, 2016, future minimum lease payments under non-cancelable operating leases with initial terms in excess of one year were as follows: 2017 $ 2,108 2018 1,059 2019 630 2020 394 2021 380 Thereafter 1,404 $ 5,975 See Note 7 for disclosures related to the Company's capital lease obligations.

SHARE-BASED COMPENSATION

SHARE-BASED COMPENSATION	12 Months Ended
	Oct. 30, 2016
SHARE-BASED COMPENSATION [Abstract]
SHARE-BASED COMPENSATION	NOTE 9 – SHARE-BASED COMPENSATION In March 2016 shareholders approved a new equity incentive compensation plan (“the Plan”), under which incentive stock options, non-qualified stock options, stock grants, stock-based awards, restricted stock, restricted stock units, stock appreciation rights, performance units, performance stock, and other stock or cash awards may be granted. Shares to be issued under the Plan may be authorized and unissued shares, issued shares that have been reacquired by the Company (in the open-market or in private transactions), shares that are being held in the treasury, or a combination thereof. The maximum number of shares of common stock approved that may be issued under the Plan is four million shares. Awards may be granted to officers, employees, directors, consultants, advisors, and independent contractors of the Company or its subsidiaries. In the event of a change in control (as defined in the Plan), the vesting of awards may be accelerated. The Plan, aspects of which are more fully described below, prohibits further awards from being issued under prior plans. The Company incurred total share-based compensation expenses of $3.8 million, $3.7 million, and $4.1 million in fiscal years 2016, 2015, and 2014, respectively. No share-based compensation cost was capitalized as part of an asset and no related income tax benefits were recorded during the fiscal years presented. Stock Options Option awards generally vest in one to four years, and have a ten year contractual term. All incentive and non-qualified stock option grants must have an exercise price no less than the market value of the underlying common stock on the date of grant. The grant date fair values of options are based on the closing price of the Company’s common stock on the date of grant using the Black-Scholes option pricing model. Expected volatility is based on the historical volatility of the Company's stock. The Company uses historical option exercise behavior and employee termination data to estimate expected term, which represents the period of time that the options granted are expected to remain outstanding. The risk-free rate of return for the estimated term of the option is based on the U.S. Treasury yield curve in effect at the date of grant. The weighted-average inputs and risk-free rate of return ranges used to calculate the grant date fair values of stock options issued during fiscal years 2016, 2015 and 2014 are presented in the following Year Ended October 30, 2016 November 1, 2015 November 2, 2014 Expected volatility 48.4 % 53.7 % 61.0 % Risk-free rate of return 1.2 – 1.7 % 1.3 – 1.6 % 1.4 % Dividend yield 0.0 % 0.0 % 0.0 % Expected term 5.1 years 4.7 years 4.6 years The table below presents a summary of stock options activity during fiscal year 2016 and information on stock options outstanding at October 30, 2016. Options Shares Weighted- Average Exercise Price Weighted- Average Remaining Contractual Life Aggregate Intrinsic Value Outstanding at November 1, 2015 3,803,168 $ 7.29 Granted 667,250 11.83 Exercised (572,033 ) 5.37 Cancelled and forfeited (363,050 ) 15.68 Outstanding at October 30, 2016 3,535,335 $ 7.59 6.4 years $ 9,413 Exercisable at October 30, 2016 1,973,635 $ 5.93 4.8 years $ 7,837 Vested and expected to vest as of October 30, 2016 3,438,261 $ 7.53 6.3 years $ 9,309 The weighted-average grant date fair value of options granted during fiscal years 2016, 2015 and 2014 were $4.51, $3.81and $4.44, respectively. The total intrinsic value of options exercised during fiscal years 2016, 2015 and 2014 was $3.5 million, $2.0 million and $1.4 million, respectively. The Company received cash from option exercises of $3.1 million, $2.2 million and $1.1 million in fiscal years 2016, 2015 and 2014, respectively. As of October 30, 2016, the total unrecognized compensation cost of unvested option awards was approximately $4.3 million. That cost is expected to be recognized over a weighted-average amortization period of 2.5 years. Restricted Stock The Company periodically grants restricted stock awards. The restrictions on these awards typically lapse over a service period of one to four years. The fair value of restricted stock is determined and fixed on the grant date based on the company’s stock price. The weighted-average grant date fair values of restricted stock awards issued during fiscal years 2016, 2015 and 2014 were $12.13, $8.28 and $8.86, respectively. The total fair value of awards for which restrictions lapsed was $1.7 million, $1.4 million and $1.5 million during fiscal years 2016, 2015 and 2014, respectively. As of October 30, 2016, the total compensation cost for restricted stock awards not yet recognized was approximately $1.0 million. That cost is expected to be recognized over a weighted-average amortization period of 2.2 years. A summary of restricted stock award activity during fiscal year 2016 and the status of the Company's outstanding restricted stock awards as of October 30, 2016, is presented below: Restricted Stock Shares Weighted-Average Fair Value at Grant Date Outstanding at November 1, 2015 189,588 $ 7.34 Granted 115,225 12.13 Vested (142,438 ) 8.62 Cancelled - - Outstanding at October 30, 2016 162,375 $ 9.61 Vested and expected to vest as of October 30, 2016 154,245 $ 9.64 Employee Stock Purchase Plan The Company's Employee Stock Purchase Plan ("ESPP") permits employees to purchase shares at 85% of the lower of the closing market price at the commencement or ending date of the Plan year (approximately one year). The Company recognizes the ESPP expense during that same period. As of October 30, 2016, the maximum number of shares of common stock approved by the Company's shareholders to be purchased under the ESPP was 1.5 million shares. Under the ESPP, approximately 1.3 million shares had been issued through October 30, 2016, and approximately 67,000 shares are subject to outstanding subscriptions. As of October 30, 2016, the total compensation cost related to the ESPP not yet recognized was $0.1 million, which is expected to be recognized in fiscal 2017.

EMPLOYEE RETIREMENT PLANS

EMPLOYEE RETIREMENT PLANS	12 Months Ended
	Oct. 30, 2016
EMPLOYEE RETIREMENT PLANS [Abstract]
EMPLOYEE RETIREMENT PLANS	NOTE 10 - EMPLOYEE RETIREMENT PLANS The Company maintains a 401(k) Savings and Profit Sharing Plan ("401(k) Plan") which covers all full and certain part time U.S. employees who have completed three months of service and are 18 years of age or older. Under the terms of the 401(k) Plan, employees may contribute up to 50% of their salary, subject to certain maximum amounts, which will be matched by the Company at 50% of the employee's contributions that are not in excess of 4% of the employee's compensation. Employee and employer contributions vest upon contribution. Annual employer contributions for all of the Company’s defined contribution plans were $0.6 million in fiscal year 2016 and $0.7 million in fiscal years 2015 and 2014.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Oct. 30, 2016
INCOME TAXES [Abstract]
INCOME TAXES	NOTE 11 - INCOME TAXES Income before the income tax provisions consist of the following: Year Ended October 30, 2016 November 1, 2015 November 2, 2014 United States $ 6,270 $ 6,646 $ (23,083 ) Foreign 54,204 63,394 64,413 $ 60,474 $ 70,040 $ 41,330 The income tax provisions consist of the following: Year Ended October 30, 2016 November 1, 2015 November 2, 2014 Current: Federal $ 492 $ 160 $ 354 State (2 ) (109 ) - Foreign 8,115 9,729 4,726 Deferred: Federal - - - State 10 7 (5 ) Foreign (3,817 ) 3,394 4,220 Total $ 4,798 $ 13,181 $ 9,295 The income tax provisions differ from the amount computed by applying the statutory U.S. federal income tax rate to income before income taxes as a result of the following: Year Ended October 30, 2016 November 1, 2015 November 2, 2014 U.S. federal income tax at statutory rate $ 21,166 $ 24,514 $ 14,465 Changes in valuation allowances (9,516 ) (11,471 ) (7,575 ) Distributions from foreign subsidiaries 3,438 448 12,674 Foreign tax rate differentials (9,620 ) (4,356 ) (4,864 ) Tax credits (944 ) (2,729 ) (2,847 ) Uncertain tax positions, including reserves, settlements and resolutions 134 (175 ) (2,255 ) Gain on acquisition of DPTT - - (5,748 ) Intercompany gain elimination - - 4,759 Tax on foreign subsidiary earnings 225 6,589 - Other, net (85 ) 361 686 $ 4,798 $ 13,181 $ 9,295 The effective tax rates differ from the U.S. statutory rate of 35% in fiscal years 2016, 2015 and 2014 primarily due to earnings, including the fiscal year 2014 gain on acquisition of DPTT, being taxed at lower statutory rates in foreign jurisdictions, changes in deferred tax asset valuation allowances, including the reversals noted below, combined with the benefit of various investment credits in a foreign jurisdiction. In addition, the lower rate in fiscal year 2016 was partially driven by a benefit that resulted from the reversal of a previously recorded undistributed earnings tax liability in a foreign jurisdiction for which the Company is no longer liable. Five year tax holidays in Taiwan, that expire in 2017 and 2019, decreased foreign taxes by $0.5 million and $0.2 million in the years ended October 30, 2016 and November 1, 2015, respectively, and had no dollar benefit for the year ended November 2, 2014. The tax holidays had no per share effect on the Company’s financial results of the years ended October 30, 2016, November 1, 2015 and November 2, 2014. The net deferred income tax assets consist of the following: As of October 30, 2016 November 1, 2015 Deferred income tax assets Net operating losses $ 46,158 $ 56,582 Reserves not currently deductible 7,876 8,158 Alternative minimum tax credits 3,772 3,281 Tax credit carryforwards 8,814 8,809 Other 1,719 1,782 68,339 78,612 Valuation allowances (29,315 ) (38,763 ) 39,024 39,849 Deferred income tax liabilities: Undistributed earnings of foreign subsidiaries (3,962 ) (5,953 ) Property, plant and equipment (19,977 ) (17,874 ) Investments 74 (4,596 ) Other (328 ) (552 ) (24,193 ) (28,975 ) Net deferred income tax assets $ 14,831 $ 10,874 Reported per adoption of new accounting standard (see below): Deferred income tax assets $ 16,322 $ 13,083 Deferred income tax liabilities (1,491 ) (2,209 ) $ 14,831 $ 10,874 The Company has established a valuation allowance for a portion of its deferred tax assets because it believes, based on the weight of all available evidence, that it is more likely than not that a portion of its net operating loss carryforwards will expire prior to utilization. During fiscal years 2016 and 2015 the Company determined that sufficient positive evidence existed in certain foreign jurisdictions that it was more likely than not that additional deferred tax assets were realizable and, therefore, reduced the valuation allowance $4.3 million and $1.5 million respectively. In addition, the valuation allowance decreased in fiscal years 2016, 2015 and 2014 as a result of loss utilizations and deferred tax liability changes of $5.2 million, $9.3 million and $7.1 million respectively. As of October 30, 2016, the undistributed earnings of foreign subsidiaries included in consolidated retained earnings amounted to $176.6 million, of which $11.3 million is not considered to be permanently invested. No provision has been made for future U.S. taxes payable on the remaining undistributed earnings of $165.3 million, as they are expected to be indefinitely invested in foreign jurisdictions and, therefore, are not anticipated to be subject to U.S. tax. Should the Company elect in the future to repatriate the foreign earnings so invested, it may incur additional income tax expense on those foreign earnings, the amount of which is not practicable to compute. The following tables present the Company’s available operating loss and credit carryforwards at October 30, 2016, and their related expiration periods: Operating Loss Carryforwards Amount Expiration Periods Federal $ 98,525 2025-2033 State 211,665 2017-2036 Foreign 27,403 2018-2023 Tax Credit Carryforwards Amount Expiration Period Federal research and development $ 5,121 2019-2036 Federal alternative minimum tax 3,772 Indefinite State tax 5,681 2017-2030 A reconciliation of the beginning and ending amounts of unrecognized tax benefits, excluding interest and penalties, is as follows: Year Ended October 30, 2016 November 1, 2015 November 2, 2014 Balance at beginning of year $ 4,029 $ 4,993 $ 4,757 Additions (reductions) for tax positions in prior years 744 (212 ) 3,437 Additions based on current year tax positions 268 318 272 Settlements (378 ) (720 ) (3,155 ) Lapses of statutes of limitations (57 ) (350 ) (318 ) Balance at end of year $ 4,606 $ 4,029 $ 4,993 Included in the balance of unrecognized tax benefits as of October 30, 2016, November 1, 2015 and November 2, 2014, are $4.6 million, $4.1 million and $5.0 million recorded in other liabilities in the consolidated balance sheets that, if recognized, would impact the effective tax rate. Also included in the balance as of November 2, 2014, is $0.1 million of tax benefit that, if recognized, would result in adjustment to deferred tax accounts. Included in these amounts in fiscal years 2016, 2015 and 2014 were $0.1 million of interest and penalties. The Company includes any applicable interest and penalties related to uncertain tax positions in its income tax provision. The fiscal years 2016 and 2015 tables include the settlement of non-US audits. The fiscal year 2014 table includes the recognition of previously unrecognized tax benefits that resulted from the lapse of their assessment periods, the increase for uncertain tax positions related to the acquisition of DPTT (as discussed in Note 2) and the settlement of an Internal Revenue Service (“IRS”) income tax examination of the Company’s 2012 and 2011 federal income tax returns. The IRS income tax settlement had limited impact on fiscal year 2014 income tax expense, as the changes that resulted from the examination were offset by loss carryforwards for which the related deferred tax assets were subject to valuation allowances. As of October 30, 2016, the Company does not believe it is reasonably possible that the total amounts of unrecognized tax benefits will significantly increase or decrease in the next twelve months. The Company is no longer subject to examination by the U.S. for years prior to and including fiscal year 2012. With respect to major foreign and state tax jurisdictions, the Company is no longer subject to tax authority examinations for years prior to and including fiscal year 2011. Income tax payments were $11.4 million, $4.9 million and $5.2 million in fiscal years 2016, 2015 and 2014, respectively. Cash received for refunds of income taxes paid in prior years amounted to $0.2 million, $0.1 million and $1.4 million in fiscal years 2016, 2015 and 2014, respectively. Adoption of New Accounting Standard The Company adopted Accounting Standards Update (“ASU”) 2015-17 – “Balance Sheet Classification of Deferred Taxes” in the fourth quarter of its 2016 fiscal year. This ASU requires that deferred tax assets and liabilities be classified as noncurrent on a classified balance sheet. The Company adopted this ASU on a retrospective basis, as a result of which our prior year financial statements and related notes have been adjusted, as necessary, to show its effects on those periods. The effect on our fiscal year 2015 financial statement deferred income taxes line items of adopting ASU 2015-17 is presented below. Classification Previously Reported Change Due to Adoption Retrospectively Adjusted Current assets $ 3,354 $ (3,354 ) $ - Noncurrent assets 11,908 1,175 13,083 Noncurrent liabilities 4,388 (2,179 ) 2,209

EARNINGS PER SHARE

EARNINGS PER SHARE	12 Months Ended
	Oct. 30, 2016
EARNINGS PER SHARE [Abstract]
EARNINGS PER SHARE	NOTE 12 - EARNINGS PER SHARE The calculation of basic and diluted earnings per share is presented as follows: Year Ended October 30, 2016 November 1, 2015 November 2, 2014 Net income attributable to Photronics, Inc. shareholders $ 46,200 $ 44,625 $ 25,996 Effect of dilutive securities: Interest expense on convertible notes, net of related tax effects 2,938 4,363 1,426 Earnings for diluted earnings per share $ 49,138 $ 48,988 $ 27,422 Weighted-average common shares computations: Weighted-average common shares used for basic earnings per share 67,539 66,331 61,779 Effect of dilutive securities: Convertible notes 7,841 11,085 3,945 Share-based payment awards 974 967 955 Dilutive common shares 8,815 12,052 4,900 Weighted-average common shares used for diluted earnings per share 76,354 78,383 66,679 Basic earnings per share $ 0.68 $ 0.67 $ 0.42 Diluted earnings per share $ 0.64 $ 0.63 $ 0.41 The table below shows the outstanding weighted-average share-based payment awards that were excluded from the calculation of diluted earnings per share because their exercise price exceeded the average market value of the common shares for the period or, under application of the treasury stock method, they were otherwise determined to be antidilutive. The table also shows convertible notes that, if converted, would have been antidilutive. Year Ended October 30, 2016 November 1, 2015 November 2, 2014 Share based payment awards 1,635 1,641 1,911 Convertible notes - - 11,085 Total potentially dilutive shares excluded 1,635 1,641 12,996 In the first quarter of fiscal year 2017, the Company awarded approximately 0.6 million share-based payment awards to its employees and directors.

SUBSIDIARY SHARE REPURCHASE

SUBSIDIARY SHARE REPURCHASE	12 Months Ended
	Oct. 30, 2016
SUBSIDIARY SHARE REPURCHASE [Abstract]
SUBSIDIARY SHARE REPURCHASE	NOTE 13 – SUBSIDIARY SHARE REPURCHASE In January 2014 the Company increased its ownership percentage in PSMC (in 2014 PSMC’s name was changed to PDMC, see Note 2) to 100% at a cost of $1.7 million by purchasing the remaining shares that were not owned by the Company. The table below presents the effect of the change in the Company’s ownership interest in PSMC on the Company's equity for fiscal year 2014, in which shares of PSMC common stock were issued in connection with the DPTT Acquisition. Year Ended November 2, 2014 Net income attributable to Photronics, Inc. shareholders $ 25,996 Decrease in Photronics, Inc.'s additional paid-in capital (6,183 ) Increase in Photronics, Inc.’s accumulated other comprehensive income 399 Change from net income attributable to Photronics, Inc. shareholders due to issuance of shares of PDMC and transfers to or from noncontrolling interests $ 20,212

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Oct. 30, 2016
COMMITMENTS AND CONTINGENCIES [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 14 - COMMITMENTS AND CONTINGENCIES At October 30, 2016, the Company had outstanding purchase commitments of $60 million, which included $51 million related to capital expenditures, and had recorded liabilities for the purchase of equipment of $9 million. See Notes 8 and 21, respectively, for information on the Company’s operating lease commitments and its plan to construct a facility in China. The Company is subject to various claims that arise in the ordinary course of business. The Company believes such claims, individually and in the aggregate, will not have a material effect on its consolidated financial statements.

GEOGRAPHIC AND SIGNIFICANT CUST

GEOGRAPHIC AND SIGNIFICANT CUSTOMER INFORMATION	12 Months Ended
	Oct. 30, 2016
GEOGRAPHIC AND SIGNIFICANT CUSTOMER INFORMATION [Abstract]
GEOGRAPHIC AND SIGNIFICANT CUSTOMER INFORMATION	NOTE 15 - GEOGRAPHIC AND SIGNIFICANT CUSTOMER INFORMATION The Company operates as a single operating segment as a manufacturer of photomasks, which are high precision quartz plates containing microscopic images of electronic circuits for use in the fabrication of IC's and FPDs. Geographic net sales are based primarily on where the Company's manufacturing facility is located. The Company's 2016, 2015 and 2014 net sales by geographic area and of ICs and FPDs, and long-lived assets by geographic area were as follows: Year Ended October 30, 2016 November 1, 2015 November 2, 2014 Net sales Taiwan $ 193,216 $ 205,141 $ 167,075 Korea 141,017 147,921 140,386 United States 113,670 132,792 106,740 Europe 33,384 35,792 38,726 All other Asia 2,169 2,560 2,600 $ 483,456 $ 524,206 $ 455,527 IC $ 364,531 $ 420,833 $ 352,679 FPD 118,925 103,373 102,848 $ 483,456 $ 524,206 $ 455,527 As of October 30, 2016 November 1, 2015 November 2, 2014 Long-lived assets Taiwan $ 176,644 $ 185,087 $ 207,324 United States 173,658 184,282 158,325 Korea 146,515 167,618 176,141 Europe 9,617 10,287 8,259 All other Asia - 10 20 $ 506,434 $ 547,284 $ 550,069 One customer accounted for 19%, 18% and 16% of the Company's net sales in fiscal years 2016, 2015 and 2014, respectively, and another customer accounted for 17%, 15%, and 11% of the Company’s net sales in fiscal 2016, 2015 and 2014, respectively.

CHANGES IN ACCUMULATED OTHER CO

CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME BY COMPONENT	12 Months Ended
	Oct. 30, 2016
CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME BY COMPONENT [Abstract]
CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME BY COMPONENT	NOTE 16 - CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME BY COMPONENT The following tables set forth the changes in the Company's accumulated other comprehensive income by component (net of tax of $0) for the years ended October 30, 2016 and November 1, 2015: Year Ended October 30, 2016 Foreign Currency Translation Adjustments Amortization of Cash Flow Hedge Other Total Balance at November 1, 2015 $ (9,634 ) $ (306 ) $ (633 ) $ (10,573 ) Other comprehensive income (loss) before reclassifications 6,334 - (589 ) 5,745 Amounts reclassified from other accumulated comprehensive income - 129 - 129 Net current period other comprehensive income (loss) 6,334 129 (589 ) 5,874 Less: other comprehensive (income) loss attributable to noncontrolling interests (3,267 ) - 295 (2,972 ) Balance at October 30, 2016 $ (6,567 ) $ (177 ) $ (927 ) $ (7,671 ) Year Ended November 1, 2015 Foreign Currency Translation Adjustments Amortization of Cash Flow Hedge Other Total Balance at November 2, 2014 $ 22,651 $ (434 ) $ (443 ) $ 21,774 Other comprehensive loss before reclassifications (40,154 ) - (381 ) (40,535 ) Amounts reclassified from other accumulated comprehensive income - 128 - 128 Net current period other comprehensive income (loss) (40,154 ) 128 (381 ) (40,407 ) Less: other comprehensive loss attributable to noncontrolling interests 7,869 - 191 8,060 Balance at November 1, 2015 $ (9,634 ) $ (306 ) $ (633 ) $ (10,573 ) The amortization of the cash flow hedge is included in Cost of sales in the consolidated statements of income in all periods presented.

CONCENTRATIONS OF CREDIT RISK

CONCENTRATIONS OF CREDIT RISK	12 Months Ended
	Oct. 30, 2016
CONCENTRATIONS OF CREDIT RISK [Abstract]
CONCENTRATIONS OF CREDIT RISK	NOTE 17 – CONCENTRATIONS OF CREDIT RISK Financial instruments that potentially subject the Company to credit risk principally consist of trade accounts receivables and short-term cash investments. The Company sells its products primarily to semiconductor and FPD manufacturers in North America, Europe and Asia. The Company believes that the concentration of credit risk in its trade receivables is substantially mitigated by the Company's ongoing credit evaluation process and relatively short collection terms. The Company does not generally require collateral from customers. The Company establishes an allowance for doubtful accounts based upon factors surrounding the credit risk of specific customers, historical trends and other information. The Company's cash and cash equivalents are deposited in several financial institutions, including institutions located within all of the countries in which it manufactures photomasks. Portions of deposits in some of these institutions may exceed the amount of insurance available for such deposits at these institutions. As these deposits are generally redeemable upon demand and are held by high quality, reputable institutions, the Company considers them to bear minimal credit risk. The Company further mitigates credit risks related to its cash and cash equivalents by spreading such risk among a number of institutions.

OTHER RELATED PARTY TRANSACTION

OTHER RELATED PARTY TRANSACTIONS	12 Months Ended
	Oct. 30, 2016
OTHER RELATED PARTY TRANSACTIONS [Abstract]
OTHER RELATED PARTY TRANSACTIONS	NOTE 18 - OTHER RELATED PARTY TRANSACTIONS The executive chairman of the board of the Company is also a director of an entity that provided secure managed information technology services to Photronics. Another director of the Company is the chief executive officer and chairman of the board of this entity. Since 2002 the Company has contracted with this entity for services it has provided to all of the Company's facilities. The Company incurred expenses for services provided by this entity of $0.2 million, $1.0 million, and $1.2 million in fiscal years 2016, 2015 and 2014, respectively, and had an outstanding balance of less than $0.1 million as of November 1, 2015. Commencing in July of 2016 the Company entered into a contract for information technology services with a parent entity for which a member of our board of directors serves as the chief executive officer and chairman of the board of a wholly owned subsidiary of that entity. The executive chairman of the Company is also a director on the subsidiary company as well. During 2016 we incurred expenses of $0.3 million from the parent entity and had payables outstanding to the parent entity of $0.2 million at October 30, 2016. The Company purchases photomask blanks from an entity of which an officer of the Company is a significant shareholder. The Company purchased $16.3 million, $20.2 million and $20.1 million of photomask blanks from this entity in 2016, 2015 and 2014, respectively, for which the amount owed to this entity was $2.7 million at October 30, 2016, and $4.5 million at November 1, 2015. The Company believes that the terms of its transactions with the related parties described above were negotiated at arm's length and were no less favorable to the Company than terms it could have obtained from unrelated third parties. See Note 5 for additional related party transactions.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	12 Months Ended
	Oct. 30, 2016
FAIR VALUE MEASUREMENTS [Abstract]
FAIR VALUE MEASUREMENTS	NOTE 19 - FAIR VALUE MEASUREMENTS The accounting framework for determining fair value includes a hierarchy for ranking the quality and reliability of the information used to measure fair value, which enables the reader of the financial statements to assess the inputs used to develop those measurements. The fair value hierarchy consists of three tiers as follows: Level 1, defined as quoted market prices (unadjusted) in active markets for identical securities; Level 2, defined as inputs other than Level 1 that are observable, either directly or indirectly; and Level 3, defined as unobservable inputs that are not corroborated by market data. The Company did not have any assets or liabilities measured at fair value, on a recurring or a nonrecurring basis, at October 30, 2016 or November 1, 2015. Fair Value of Other Financial Instruments The fair values of the Company's cash and cash equivalents (Level 1 measurements), accounts receivable, accounts payable, and certain other current assets and current liabilities (Level 2 measurements) approximate their carrying value due to their short-term maturities. The fair values of the Company’s convertible senior notes is a Level 2 measurement, as they were determined using inputs that were either observable market data, or could be derived from or corroborated with observable market data. These inputs included the Company’s stock price and interest rates offered on debt issued by entities with credit ratings similar to that of the Company’s. The table below presents the fair and carrying values of the Company's convertible senior notes at October 30, 2016 and November 1, 2015. October 30, 2016 November 1, 2015 Fair Value Carrying Value Fair Value Carrying Value 3.25% convertible senior notes due 2019 $ 68,230 $ 57,500 $ 64,550 $ 57,500 3.25% convertible senior notes due 2016 $ - $ - $ 60,375 $ 57,500

GAINS ON SALE OF INVESTMENTS

GAINS ON SALE OF INVESTMENTS	12 Months Ended
	Oct. 30, 2016
GAINS ON SALE OF INVESTMENTS [Abstract]
GAINS ON SALE OF INVESTMENTS	NOTE 20 – GAINS ON SALE OF INVESTMENTS The Company had a minority interest in a foreign entity. In fiscal year 2016, the Company sold this investment and recognized a gain of $8.8 million. In addition, as discussed in Note 5, we sold our investment in the MP Mask joint venture in fiscal year 2016.

EXPANSION INTO CHINA

EXPANSION INTO CHINA	12 Months Ended
	Oct. 30, 2016
EXPANSION INTO CHINA [Abstract]
EXPANSION INTO CHINA	NOTE 21 – EXPANSION INTO CHINA In August 2016 the Company announced that it had signed an investment agreement with the Xiamen Torch Hi-Tech Industrial Development Zone (Xiamen Torch) to establish an IC manufacturing facility in Xiamen, China. Under the terms of the agreement the Company will build and operate a state-of-the-art IC manufacturing and research and development facility, in return for which Xiamen Torch will provide certain investment incentives and support. The Company plans to invest $160 million in cash and equipment over the next five years, with construction commencing in 2017 and production estimated to start in late 2018. The investment will be financed with a mix of cash, transferred capital equipment and, possibly, local financing. Support for the project has been obtained from an existing customer.

QUARTERLY RESULTS OF OPERATIONS

QUARTERLY RESULTS OF OPERATIONS (UNAUDITED)	12 Months Ended
	Oct. 30, 2016
QUARTERLY RESULTS OF OPERATIONS (UNAUDITED) [Abstract]
QUARTERLY RESULTS OF OPERATIONS (UNAUDITED)	NOTE 22 - QUARTERLY RESULTS OF OPERATIONS (UNAUDITED) The following table sets forth certain unaudited quarterly financial data: First Second Third Fourth Year Fiscal 2016: (a) (b) (c) (a)(d) Net sales $ 129,956 $ 122,923 $ 123,209 $ 107,368 $ 483,456 Gross profit 35,436 31,287 31,450 20,533 118,706 Net income 23,501 14,153 11,453 6,569 55,676 Net income attributable to Photronics, Inc. shareholders 21,002 11,854 8,088 5,256 46,200 Earnings per share: Basic $ 0.31 $ 0.18 $ 0.12 $ 0.08 $ 0.68 Diluted $ 0.28 $ 0.16 $ 0.12 $ 0.08 $ 0.64 Fiscal 2015: (e) (e) Net sales $ 123,505 $ 127,309 $ 131,699 $ 141,693 $ 524,206 Gross profit 28,184 33,095 37,243 44,614 143,136 Net income 7,142 12,156 15,410 22,151 56,859 Net income attributable to Photronics, Inc. shareholders 3,837 10,060 12,106 18,622 44,625 Earnings per share: Basic $ 0.06 $ 0.15 $ 0.18 $ 0.28 $ 0.67 Diluted $ 0.06 $ 0.14 $ 0.17 $ 0.25 $ 0.63 (a) Includes $8.8 million gain on sale of investment in a foreign entity. (b) Includes a tax benefit in Taiwan of $1.8 million related to prior years. (c) Includes a tax benefit in Taiwan of $3.0 million related to the recognition of prior period tax benefits and other tax positions no longer deemed necessary. (d) Includes tax benefits in Taiwan of $4.8 million primarily related to the recognition of prior period tax benefits and other tax positions no longer deemed necessary. (e) Includes expenses of $0.9 million of financing expenses related to the exchange of $57.5 million 3.25% convertible senior notes.

RECENT ACCOUNTING PRONOUNCEMENT

RECENT ACCOUNTING PRONOUNCEMENTS	12 Months Ended
	Oct. 30, 2016
RECENT ACCOUNTING PRONOUNCEMENTS [Abstract]
RECENT ACCOUNTING PRONOUNCEMENTS	NOTE 23 - RECENT ACCOUNTING PRONOUNCEMENTS In November 2016 the FASB issued ASU 2016-18 “Restricted Cash”, which requires that a statement of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. Therefore, amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. This Update is effective for the Company in its first quarter of fiscal year 2019 and should be applied on a retrospective transition basis. Early adoption is permitted, including adoption in an interim period as of the beginning of an annual reporting period for which interim or annual financial statements have not been issued or made available for issuance. The Company is currently evaluating the effect this ASU will have on its consolidated financial statements. In October 2016 the FASB issued ASU 2016-16 “Intra-Entity Transfers of Assets Other Than Inventory”, which eliminates the exception of recognizing, at the time of transfer, current and deferred income taxes for intra-entity asset transfers other than inventory. This Update is effective for the Company in its first quarter of fiscal year 2019 and should be applied on a modified retrospective transition basis. Early adoption is permitted as of the beginning of an annual reporting period for which interim or annual financial statements have not been issued or made available for issuance. The Company is currently evaluating the effect this ASU will have on its consolidated financial statements. In August 2016 the FASB issued ASU 2016-15 “Classification of Certain Cash Receipts and Cash Payments”, which addresses eight specific cash flow issues with the objective of reducing diversity in practice. This Update is effective for the Company in its first quarter of fiscal year 2019 and should be applied using a retrospective transition approach. The Company is currently evaluating the effect this ASU will have on its consolidated financial statements. In June 2016 the FASB issued ASU 2016-13 “Measurement of Credit Losses”, the main objective of which is to provide more useful information about expected credit losses on financial instruments and other commitments of an entity to extend credit. In support of this objective, the ASU replaces the incurred loss impairment methodology found in current GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. This ASU requires a cumulative-effect adjustment as of the beginning of the first reporting period in which the guidance is adopted. This Update is effective for the Company in its first quarter of fiscal year 2021, with early adoption permitted beginning in the first quarter of fiscal year 2019. The Company is currently evaluating the effect this ASU will have on its consolidated financial statements. In March 2016 the FASB issued ASU 2016 – 09 “Improvements to Employee Share-Based Payment Accounting”, which simplifies the accounting for share-based payment transactions including their income tax consequences, classification as either equity or liability awards, classification on the statement of cash flows, and other areas. The method of adoption varies with the different aspects of the Update. The Update is effective for the Company in its first quarter of fiscal year 2018, with early application permitted. The Company is currently evaluating the effect this ASU will have on its consolidated financial statements. In February 2016 the FASB issued ASU 2016 – 02 “Leases (Topic 842)”, which requires lessees to recognize right-of-use assets and corresponding liabilities for all leases with an initial term in excess of twelve months. The Update is to be adopted using a modified retrospective approach, which includes a number of practical expedients, that requires leases to be measured and recognized under the new guidance at the beginning of the earliest period presented. The ASU is effective for the Company in its first quarter of fiscal year 2020, with early application permitted, and the Company is currently evaluating the effect this ASU will have on its consolidated financial statements. In January 2016 the FASB issued ASU 2016-01 “Recognition and Measurement of Financial Assets and Financial Liabilities”, which provides targeted improvements to the recognition, measurement, presentation and disclosure of financial assets and financial liabilities. Specific accounting areas addressed include, equity investments, financial liabilities reported under the fair value option and valuation allowance assessment resulting from unrealized losses on available-for-sale securities. The ASU also changes certain presentation and disclosure requirements for financial instruments. The Update is to be applied by means of a cumulative effect adjustment to the balance sheet as of the beginning of the fiscal year of adoption. This ASU is effective for the Company in its first quarter of fiscal year 2019. Early adoption, with certain exceptions, is not permitted. The Company is currently evaluating the effect this ASU will have on its consolidated financial statements. In November 2015 the FASB issued ASU 2015-17 “Balance Sheet Classification of Deferred Taxes”, which requires that deferred tax liabilities and assets be classified as noncurrent in a classified statement of financial position. The Company adopted this ASU, and applied it on a retrospective basis, in the fourth quarter of fiscal year 2016. See Note 11 for the effects of its adoption on the Company’s consolidated financials statements. In April 2015 the FASB issued ASU 2015-03 “Simplifying the Presentation of Debt Issuance Costs”, which requires debt issuance costs related to recognized debt liability to be presented in the balance sheet as a direct deduction from that debt liability, consistent with the presentation of a debt discount. This ASU is effective for the Company in its first quarter of fiscal year 2017 and, upon adoption, should be applied retrospectively. Early adoption is permitted. The Company does not anticipate that the adoption of this ASU will have a material effect on its consolidated financial statements. In May 2014 the FASB issued ASU 2014-09 “Revenue from Contracts with Customers”, which will supersede nearly all existing revenue recognition guidance under accounting principles generally accepted in the United States. The core principle of this ASU is that revenue should be recognized for the amount of consideration expected to be received for promised goods or services transferred to customers. This ASU also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments, and assets recognized for costs incurred to obtain or fulfill a contract. In August 2015 the FASB issued ASU 2015-14 which defers the effective date of ASU 2014-09 by one year and allows entities to early adopt, but no earlier than the original effective date. ASU 2014-09 will now be effective for the Company in its first quarter of fiscal year 2019. ASU 2014-09 allows for either full retrospective or modified retrospective adoption. In April 2016 the FASB issued ASU 2016-10 “Identifying Performance Obligations and Licensing” which amends guidance previously issued on these matters in ASU 2014-09. The effective date and transition requirements of ASU 2016-10 are the same as those for ASU 2014-09. The Company is determining the transition method to elect and the potential effects of the adoption of these Updates on its consolidated financial statements.

Schedule II-Valuation and Quali

Schedule II-Valuation and Qualifying Accounts	12 Months Ended
	Oct. 30, 2016
Schedule II-Valuation and Qualifying Accounts [Abstract]
Schedule II-Valuation and Qualifying Accounts	Schedule II Valuation and Qualifying Accounts for the Years Ended October 30, 2016, November 1, 2015 and November 2, 2014 (in thousands) Balance at Beginning of Year Charged to Costs and Expenses Deductions Balance at End of Year Allowance for Doubtful Accounts Year ended October 30, 2016 $ 3,301 $ 642 $ (42 ) (a) $ 3,901 Year ended November 1, 2015 $ 3,078 $ 730 $ (507 ) (a) $ 3,301 Year ended November 2, 2014 $ 3,541 $ (740 ) $ 277 (a) $ 3,078 Deferred Tax Asset Valuation Allowance Year ended October 30, 2016 $ 38,763 $ (4,262 ) (b) $ (5,186 ) (c) $ 29,315 Year ended November 1, 2015 $ 49,548 $ (2,364 ) (b) $ (8,421 ) (c) $ 38,763 Year ended November 2, 2014 $ 56,661 $ - $ (7,113 ) (c) $ 49,548 (a) Uncollectible accounts written off, net, and impact of foreign currency translation. (b) Reversal of valuation allowance. (c) Increase in deferred tax liability and utilization of net operating losses.

SUMMARY OF SIGNIFICANT ACCOUN33

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Oct. 30, 2016
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]
Business	Business Photronics, Inc. and its subsidiaries ("Photronics", the "Company", “we”, or “us”) is one of the world's leading manufacturers of photomasks, which are high precision photographic quartz plates containing microscopic images of electronic circuits. Photomasks are a key element in the manufacture of semiconductors and flat panel displays ("FPDs"), and are used as masters to transfer circuit patterns onto semiconductor wafers and flat panel substrates during the fabrication of integrated circuits ("ICs") and a variety of FPDs and, to a lesser extent, other types of electrical and optical components. The Company currently operates principally from nine manufacturing facilities; two of which are located in Europe, three in Taiwan, one in Korea, and three in the United States. In August 2016 the Company announced its plans to build a research and development and manufacturing facility in Xiamen, China, with construction commencing in 2017 and production estimated to start in late 2018. See Note 21 for additional information.
Consolidation	Consolidation The accompanying consolidated financial statements include the accounts of Photronics, Inc. and its majority-owned subsidiaries that the Company controls. All intercompany balances and transactions have been eliminated in consolidation.
Estimates and Assumptions	Estimates and Assumptions The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect amounts reported in them. Estimates are based on historical experience and on various assumptions that are believed to be reasonable under the circumstances. The Company's estimates are based on the facts and circumstances available at the time they are made. Actual results reported by the Company may differ from such estimates. The Company reviews these estimates periodically and reflects the effect of revisions in the period in which they are determined.
Fiscal Year	Fiscal Year The Company's fiscal year ends on the Sunday closest to October thirty-first, and, as a result, a 53-week year occurs every 5 to 6 years. Fiscal years 2016, 2015 and 2014 each included 52 weeks.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents include cash and highly liquid investments purchased with an original maturity of 3 months or less. The carrying values of cash equivalents approximate their fair values due to the short-term maturities of these instruments.
Inventories	Inventories Inventories are stated at the lower of cost, determined under the first-in, first-out ("FIFO") method, or market. Presented below are the components of inventory at the balance sheet dates: October 30, 2016 November 1, 2015 Finished goods $ 142 $ 861 Work in process 2,987 4,177 Raw materials 18,952 19,119 $ 22,081 $ 24,157
Property, Plant and Equipment	Property, Plant and Equipment Property, plant and equipment, except as explained below under "Impairment of Long-Lived Assets," are stated at cost less accumulated depreciation and amortization. Repairs and maintenance, as well as renewals and replacements of a routine nature, are charged to operations as incurred, while those that improve or extend the lives of existing assets are capitalized. Upon sale or other disposition, the cost of the asset and its related accumulated depreciation are removed from the accounts, and any resulting gain or loss is reflected in earnings. Depreciation and amortization, substantially all of which are included in cost of sales, are computed using the straight-line method over the estimated useful lives of the related assets. Buildings and improvements are depreciated over 15 to 40 years, machinery and equipment over 3 to 10 years and, furniture, fixtures and office equipment over 3 to 5 years. Leasehold improvements are amortized over the life of the lease or the estimated useful life of the improvement, whichever is less. Judgment and assumptions are used in establishing estimated useful lives and depreciation periods. The Company also uses judgment and assumptions as it periodically reviews property, plant and equipment for any potential impairment in carrying values whenever events such as a significant industry downturn, plant closures, technological obsolescence, or other change in circumstances indicate that their carrying amounts may not be recoverable.
Intangible Assets	Intangible Assets Intangible assets consist primarily of a technology license agreement and acquisition-related intangibles. These assets, except as explained below, are stated at fair value as of the date acquired less accumulated amortization. Amortization is calculated based on the estimated useful lives of the assets, which range from 3 to 15 years, using the straight-line method or another method that more fairly represents the utilization of the assets. The Company periodically evaluates the remaining useful lives of its intangible assets to determine whether events or circumstances warrant a revision to the remaining periods of amortization. In the event that the estimate of an intangible asset’s remaining useful life has changed, the remaining carrying amount of the intangible asset is amortized prospectively over that revised remaining useful life. If it is determined that an intangible asset has an indefinite useful life, that intangible asset would be subject to impairment testing annually or whenever events or circumstances indicate that the carrying value may not, based on future undiscounted cash flows or market factors, be recoverable, and an impairment loss would be recorded in the period so determined. The measurement of the impairment loss would be based on the fair value of the intangible asset.
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. Determination of recoverability is based on the Company's judgment and estimates of undiscounted future cash flows resulting from the use of the assets and their eventual disposition. Measurement of an impairment loss for long-lived assets that management expects to hold and use is based on the fair value of the assets. The carrying values of assets determined to be impaired are reduced to their estimated fair values. Fair values of any impaired assets would generally be determined using a market or income approach.
Business Combinations	Business Combinations When acquiring other businesses or participating in mergers or joint ventures in which the Company is deemed to be the acquirer, the Company generally recognizes identifiable assets acquired, liabilities assumed and any noncontrolling interests at their acquisition date fair values, and separately from any goodwill that may be required to be recognized. Goodwill, when recognizable, would be measured as the excess amount of any consideration transferred, which is generally measured at fair value, over the acquisition date fair values of the identifiable assets acquired and liabilities assumed. Accounting for such transactions requires the Company’s management to make significant assumptions and estimates and, although the Company believes any estimates and assumptions it makes to be reasonable and appropriate at the time they are made, unanticipated events and circumstances may arise that affect their accuracy, which may cause actual results to differ from those estimated by the Company. When required, the Company will adjust the values of the assets acquired and liabilities assumed against the acquisition gain or goodwill, as initially recorded, for a period of up to one year after the transaction. Costs incurred to effect a merger or acquisition, such as legal, accounting, valuation and other third party costs, as well as internal general and administrative costs incurred are charged to expense in the periods incurred. Costs incurred to issue any debt and equity securities are recognized in accordance with other applicable generally accepted accounting principles.
Investments in Joint Ventures	Investments in Joint Ventures The financial results of investments in joint ventures of which the Company has a controlling financial interest are included in the Company’s consolidated financial statements. Investments in joint ventures over which the Company has the ability to exercise significant influence and that, in general, are at least 20 percent owned are accounted for under the equity method. An impairment loss would be recognized whenever a decrease in the fair value of such an investment below its carrying amount is determined to be other than temporary. In judging "other than temporary," the Company would consider the length of time and the extent to which the fair value of the investment has been less than the carrying amount of the investment, the near-term and longer-term operating and financial prospects of the investee, and the Company's longer-term intent of retaining its investment in the investee.
Variable Interest Entities	Variable Interest Entities The Company accounts for the investments it makes in certain legal entities in which equity investors do not have 1) sufficient equity at risk for the legal entity to finance its activities without additional subordinated financial support or, 2) as a group, the holders of the equity investment at risk do not have either the power, through voting or similar rights, to direct the activities of the legal entity that most significantly impact the entity’s economic performance or, 3) the obligation to absorb the expected losses of the legal entity or the right to receive expected residual returns of the legal entity as “variable interest entities”, or “VIEs”. The Company would consolidate the results of any such entity in which it determined that it has a controlling financial interest. The Company would have a “controlling financial interest” in such an entity when the Company has both the power to direct the activities that most significantly affect the VIE’s economic performance and the obligation to absorb the losses of, or right to receive the benefits from, the VIE that could be potentially significant to the VIE. On a quarterly basis, the Company reassesses whether it has a controlling financial interest in any investments it has in these certain legal entities. The Company accounts for investments it makes in VIEs in which it has determined that it does not have a controlling financial interest but has significant influence over and holds at least a 20 percent ownership interest using the equity method. Any such investment not meeting the parameters to be accounted under the equity method would be accounted for using the cost method unless the investment had a readily determinable fair value, at which it would then be reported.
Income Taxes	Income Taxes The income tax provision is computed on the basis of the various tax jurisdictions' income or loss before income taxes. Deferred income taxes reflect the tax effects of differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes, as well as the tax effects of net operating losses and tax credit carryforwards. The Company uses judgment and assumptions to determine if valuation allowances for deferred income tax assets are required, if their realization is not more likely than not, by considering future market growth, forecasted operations, future taxable income, and the amount of earnings in the tax jurisdictions in which it operates. The Company considers income taxes in each of the tax jurisdictions in which it operates in order to determine its effective income tax rate. Current income tax exposure is identified and temporary differences resulting from differing treatments of items for tax and financial reporting purposes are assessed. These differences result in deferred tax assets and liabilities, which are included in the Company's consolidated balance sheets. Additionally, we evaluate the potential realization of deferred income tax assets from future taxable income and establish valuation allowances if their realization is deemed not more likely than not. Accordingly, income taxes charged against earnings may have been impacted by changes in the valuation allowance. Significant management estimates and judgment are required in determining any valuation allowances recorded against net deferred tax assets. The Company accounts for uncertain tax positions by recording a liability for unrecognized tax benefits resulting from uncertain tax positions taken, or expected to be taken, in its tax returns. We include any applicable interest and penalties related to uncertain tax positions in our income tax provision.
Earnings Per Share	Earnings Per Share Basic earnings per share ("EPS") is based on the weighted-average number of common shares outstanding for the period, excluding any dilutive common share equivalents. Diluted EPS reflects the potential dilution that could occur if certain share-based payment awards or financial instruments were exercised, earned or converted.
Share-Based Compensation	Share-Based Compensation The Company recognizes share-based compensation expense over the service period that the awards are expected to vest. Share-based compensation expense includes the estimated effects of forfeitures, which are adjusted over the requisite service period to the extent actual forfeitures differ, or are expected to differ, from such estimates. Changes in estimated forfeitures are recognized in the period of change and will also impact the amount of expense to be recognized in future periods. Determining the appropriate option pricing model, calculating the grant date fair value of share-based awards and estimating forfeiture rates requires considerable judgment, including the estimations of stock price volatility and the expected term of options granted. The Company uses the Black-Scholes option pricing model to value employee stock options. We estimate stock price volatility based on daily averages of our common stock’s historical volatility over a term approximately equal to the estimated time period the grant will remain outstanding. The expected term of options and forfeiture rate assumptions are derived from historical data.
Research and Development	Research and Development Research and development costs are expensed as incurred, and consist primarily of global development efforts related to high-end process technologies for advanced sub-wavelength reticle solutions for IC photomask technologies. Research and development expenses also include the amortization of the estimated remaining value of a technology license agreement that the Company was a party to with Micron Technology, Inc. (“Micron”). Under this technology license agreement, the Company had access to certain photomask technology developed by Micron, which it retains the right to use in perpetuity.
Foreign Currency Translation	Foreign Currency Translation The Company's international subsidiaries maintain their accounts in their respective local currencies. Assets and liabilities of such subsidiaries are translated to U.S. dollars at year-end exchange rates. Income and expenses are translated at average rates of exchange prevailing during the year. Foreign currency translation adjustments are accumulated and reported in accumulated other comprehensive income, a component of equity. The effects of changes in exchange rates on foreign currency transactions, which are included in interest and other income (expense), net were a net gain/(loss) of $(0.3) million, $2.5 million and $1.4 million in fiscal years 2016, 2015 and 2014, respectively.
Noncontrolling Interests	Noncontrolling Interests Noncontrolling interests represents the minority shareholders' proportionate share in the equity of the Company's two majority-owned subsidiaries, Photronics DNP Mask Corporation ("PDMC") in Taiwan, of which noncontrolling interests owned 49.99% as of October 30, 2016 and November 1, 2015 and PK Ltd. ("PKL") in Korea of which noncontrolling shareholders owned approximately 0.3% and 0.2% as of October 30, 2016 and November 1, 2015, respectively.
Revenue Recognition	Revenue Recognition The Company recognizes revenue when there is persuasive evidence that an arrangement exists, delivery has occurred, the sales price is fixed or determinable, and collectability is reasonably assured. Delivery is determined by the shipping terms of the individual sales transactions. For sales with FOB destination or similar shipping terms, delivery occurs when the Company’s product reaches its destination and is received by the customer. For sales with FOB shipping point terms, delivery occurs when the Company’s product is received by the common carrier. The Company uses judgment when estimating the effect on revenue of discounts and sales incentives, both of which are accrued when the related revenue is recognized. The Company reports its revenues net of any sales taxes billed to its customers.
Product Warranty	Product Warranty For a 30-day period, the Company warrants that items sold will conform to customer specifications. However, the Company’s liability is limited to the repair or replacement of the photomasks at its sole option. We inspect photomasks for conformity to customer specifications prior to shipment. Accordingly, customer claims related to items under warranty have historically been insignificant. The Company’s warranty policy includes accepting returns of products with defects, or products that have not been produced to precise customer specifications.

ACQUISITION OF DNP PHOTOMASK 34

ACQUISITION OF DNP PHOTOMASK TECHNOLOGY TAIWAN CO., LTD. (Policies)	12 Months Ended
	Oct. 30, 2016
Business Acquisition [Line Items]
Business Combinations	Business Combinations When acquiring other businesses or participating in mergers or joint ventures in which the Company is deemed to be the acquirer, the Company generally recognizes identifiable assets acquired, liabilities assumed and any noncontrolling interests at their acquisition date fair values, and separately from any goodwill that may be required to be recognized. Goodwill, when recognizable, would be measured as the excess amount of any consideration transferred, which is generally measured at fair value, over the acquisition date fair values of the identifiable assets acquired and liabilities assumed. Accounting for such transactions requires the Company’s management to make significant assumptions and estimates and, although the Company believes any estimates and assumptions it makes to be reasonable and appropriate at the time they are made, unanticipated events and circumstances may arise that affect their accuracy, which may cause actual results to differ from those estimated by the Company. When required, the Company will adjust the values of the assets acquired and liabilities assumed against the acquisition gain or goodwill, as initially recorded, for a period of up to one year after the transaction. Costs incurred to effect a merger or acquisition, such as legal, accounting, valuation and other third party costs, as well as internal general and administrative costs incurred are charged to expense in the periods incurred. Costs incurred to issue any debt and equity securities are recognized in accordance with other applicable generally accepted accounting principles.
DNP Photomask Technology Taiwan Co., Ltd. (DPTT) [Member]
Business Acquisition [Line Items]
Business Combinations	The DPTT Acquisition met the conditions of a business combination as defined by Accounting Standards Codification (“ASC”) 805 and, as such, was accounted for under ASC 805 using the acquisition method of accounting. ASC 805 defines the three elements of a business as Input, Process and Output. As a result of the DPTT Acquisition, Photronics acquired the machinery and equipment utilized in the processes to manufacture product, the building that houses the entire operation and the processes needed to manufacture the product, all previously owned by DPTT. The former DPTT employees hired by Photronics in connection with the acquisition brought with them the skills, experience and know-how necessary to provide the operational processes that, when applied to the acquired assets, represent processes being applied to inputs to create outputs. Having met all three elements of a business as defined in ASC 805, the Company determined that the DPTT Acquisition should be accounted for as a business combination. In addition to recording the fair values of the net assets acquired, the Company also recorded a gain on acquisition of $16.4 million in the three month period ended May 4, 2014, in accordance with ASC 805 using the acquisition method of accounting. The gain on acquisition was primarily due to the difference between the market values of the acquired real estate and personal property exceeding the fair value of the consideration transferred. In addition, a deferred tax liability of $3.0 million was recorded in the opening balance sheet, which had the effect of reducing the gain on acquisition to $16.4 million. Prior to recording the gain, the Company reassessed whether it had correctly identified all of the assets acquired and all of the liabilities assumed. Additionally, the Company also reviewed the procedures used to measure the amounts of the identifiable assets acquired, liabilities assumed and consideration transferred. The fair value of the first component of consideration represented 49.99 percent of the fair value of PSMC, and was based on recent prices paid by the Company to acquire outstanding shares of PSMC (prior to the acquisition). As a result of the merger, the Company acquired the net assets of DPTT having a fair value of $114.7 million, less noncontrolling interests of $57.3 million retained by DNP, and transferred consideration with a fair value of $41.0 million, which resulted in a gain of $16.4 million. The fair value of the total consideration transferred as of the acquisition date was $98.3 million, comprised of the 49.99% noncontrolling interest in DPTT of $57.3 million, and 49.99% of the fair value of PSMC of $41.0 million (112.9 million shares, or 49.99% of the outstanding common stock of PSMC). We estimated the $114.7 million fair value of DPTT as of the acquisition date by applying an income approach as our valuation technique. Our income approach followed a discounted cash flow method, which applied our best estimates of future cash flows and an estimated terminal value discounted to present value at a rate of return taking into account the relative risk of the cash flows. To confirm the reasonableness of the value derived from the income approach, we also analyzed the values of comparable companies which are publicly traded. The acquisition date fair value of the property, plant and equipment of DPTT was $95.4 million, which was determined by utilizing the cost and, to a lesser extent, the market approach, based on an in-use premise of value. Inputs utilized by the Company to determine fair values of DPTT’s property, plant and equipment included a cost approach, which was adjusted for depreciation and condition for equipment, and adjusted for depreciation and local market conditions for real property. The noncontrolling interest of DPTT was calculated using the 49.99% of its total fair value of $114.7 million. The Company also used a market approach to corroborate the enterprise value of DPTT. This fair value measurement was based on significant inputs that are not observable in the market and thus represented a fair value measurement categorized within Level 3 of the fair value hierarchy. Key assumptions included local and current construction replacement cost multipliers, amounts of ancillary replacement costs, physical deterioration, and economic and functional obsolescence to adjust the current replacement costs by, as well as the estimated economic lives of the assets. Identifiable intangible assets acquired were primarily customer relationships, which represented the fair value of relationships and agreements DPTT had in place at the date of the merger. The customer relationships had a fair value of $1.5 million at the acquisition date, determined by using the multi-period excess earnings method, and are being amortized over a twelve year estimated useful life. The acquisition date fair value of the remainder of the identifiable assets acquired and liabilities assumed were equivalent to, or did not materially differ from, their carrying values.

SHARE-BASED COMPENSATION (Polic

SHARE-BASED COMPENSATION (Policies)	12 Months Ended
	Oct. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Options Accounting Policy	Share-Based Compensation The Company recognizes share-based compensation expense over the service period that the awards are expected to vest. Share-based compensation expense includes the estimated effects of forfeitures, which are adjusted over the requisite service period to the extent actual forfeitures differ, or are expected to differ, from such estimates. Changes in estimated forfeitures are recognized in the period of change and will also impact the amount of expense to be recognized in future periods. Determining the appropriate option pricing model, calculating the grant date fair value of share-based awards and estimating forfeiture rates requires considerable judgment, including the estimations of stock price volatility and the expected term of options granted. The Company uses the Black-Scholes option pricing model to value employee stock options. We estimate stock price volatility based on daily averages of our common stock’s historical volatility over a term approximately equal to the estimated time period the grant will remain outstanding. The expected term of options and forfeiture rate assumptions are derived from historical data.
Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Options Accounting Policy	Option awards generally vest in one to four years, and have a ten year contractual term. All incentive and non-qualified stock option grants must have an exercise price no less than the market value of the underlying common stock on the date of grant. The grant date fair values of options are based on the closing price of the Company’s common stock on the date of grant using the Black-Scholes option pricing model. Expected volatility is based on the historical volatility of the Company's stock. The Company uses historical option exercise behavior and employee termination data to estimate expected term, which represents the period of time that the options granted are expected to remain outstanding. The risk-free rate of return for the estimated term of the option is based on the U.S. Treasury yield curve in effect at the date of grant.

INCOME TAXES (Policies)

INCOME TAXES (Policies)	12 Months Ended
	Oct. 30, 2016
INCOME TAXES [Abstract]
Unremitted Earnings in Foreign Investment	As of October 30, 2016, the undistributed earnings of foreign subsidiaries included in consolidated retained earnings amounted to $176.6 million, of which $11.3 million is not considered to be permanently invested. No provision has been made for future U.S. taxes payable on the remaining undistributed earnings of $165.3 million, as they are expected to be indefinitely invested in foreign jurisdictions and, therefore, are not anticipated to be subject to U.S. tax. Should the Company elect in the future to repatriate the foreign earnings so invested, it may incur additional income tax expense on those foreign earnings, the amount of which is not practicable to compute.
Interest and Penalties Related to Uncertain Tax Positions	Included in the balance of unrecognized tax benefits as of October 30, 2016, November 1, 2015 and November 2, 2014, are $4.6 million, $4.1 million and $5.0 million recorded in other liabilities in the consolidated balance sheets that, if recognized, would impact the effective tax rate. Also included in the balance as of November 2, 2014, is $0.1 million of tax benefit that, if recognized, would result in adjustment to deferred tax accounts. Included in these amounts in fiscal years 2016, 2015 and 2014 were $0.1 million of interest and penalties. The Company includes any applicable interest and penalties related to uncertain tax positions in its income tax provision. The fiscal years 2016 and 2015 tables include the settlement of non-US audits. The fiscal year 2014 table includes the recognition of previously unrecognized tax benefits that resulted from the lapse of their assessment periods, the increase for uncertain tax positions related to the acquisition of DPTT (as discussed in Note 2) and the settlement of an Internal Revenue Service (“IRS”) income tax examination of the Company’s 2012 and 2011 federal income tax returns. The IRS income tax settlement had limited impact on fiscal year 2014 income tax expense, as the changes that resulted from the examination were offset by loss carryforwards for which the related deferred tax assets were subject to valuation allowances. As of October 30, 2016, the Company does not believe it is reasonably possible that the total amounts of unrecognized tax benefits will significantly increase or decrease in the next twelve months. The Company is no longer subject to examination by the U.S. for years prior to and including fiscal year 2012. With respect to major foreign and state tax jurisdictions, the Company is no longer subject to tax authority examinations for years prior to and including fiscal year 2011.

FAIR VALUE MEASUREMENTS (Polici

FAIR VALUE MEASUREMENTS (Policies)	12 Months Ended
	Oct. 30, 2016
FAIR VALUE MEASUREMENTS [Abstract]
Fair Value Financial Instruments Policy	The accounting framework for determining fair value includes a hierarchy for ranking the quality and reliability of the information used to measure fair value, which enables the reader of the financial statements to assess the inputs used to develop those measurements. The fair value hierarchy consists of three tiers as follows: Level 1, defined as quoted market prices (unadjusted) in active markets for identical securities; Level 2, defined as inputs other than Level 1 that are observable, either directly or indirectly; and Level 3, defined as unobservable inputs that are not corroborated by market data.

RECENT ACCOUNTING PRONOUNCEME38

RECENT ACCOUNTING PRONOUNCEMENTS (Policies)	12 Months Ended
	Oct. 30, 2016
RECENT ACCOUNTING PRONOUNCEMENTS [Abstract]
Recent Accounting Pronouncements	In November 2016 the FASB issued ASU 2016-18 “Restricted Cash”, which requires that a statement of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. Therefore, amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. This Update is effective for the Company in its first quarter of fiscal year 2019 and should be applied on a retrospective transition basis. Early adoption is permitted, including adoption in an interim period as of the beginning of an annual reporting period for which interim or annual financial statements have not been issued or made available for issuance. The Company is currently evaluating the effect this ASU will have on its consolidated financial statements. In October 2016 the FASB issued ASU 2016-16 “Intra-Entity Transfers of Assets Other Than Inventory”, which eliminates the exception of recognizing, at the time of transfer, current and deferred income taxes for intra-entity asset transfers other than inventory. This Update is effective for the Company in its first quarter of fiscal year 2019 and should be applied on a modified retrospective transition basis. Early adoption is permitted as of the beginning of an annual reporting period for which interim or annual financial statements have not been issued or made available for issuance. The Company is currently evaluating the effect this ASU will have on its consolidated financial statements. In August 2016 the FASB issued ASU 2016-15 “Classification of Certain Cash Receipts and Cash Payments”, which addresses eight specific cash flow issues with the objective of reducing diversity in practice. This Update is effective for the Company in its first quarter of fiscal year 2019 and should be applied using a retrospective transition approach. The Company is currently evaluating the effect this ASU will have on its consolidated financial statements. In June 2016 the FASB issued ASU 2016-13 “Measurement of Credit Losses”, the main objective of which is to provide more useful information about expected credit losses on financial instruments and other commitments of an entity to extend credit. In support of this objective, the ASU replaces the incurred loss impairment methodology found in current GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. This ASU requires a cumulative-effect adjustment as of the beginning of the first reporting period in which the guidance is adopted. This Update is effective for the Company in its first quarter of fiscal year 2021, with early adoption permitted beginning in the first quarter of fiscal year 2019. The Company is currently evaluating the effect this ASU will have on its consolidated financial statements. In March 2016 the FASB issued ASU 2016 – 09 “Improvements to Employee Share-Based Payment Accounting”, which simplifies the accounting for share-based payment transactions including their income tax consequences, classification as either equity or liability awards, classification on the statement of cash flows, and other areas. The method of adoption varies with the different aspects of the Update. The Update is effective for the Company in its first quarter of fiscal year 2018, with early application permitted. The Company is currently evaluating the effect this ASU will have on its consolidated financial statements. In February 2016 the FASB issued ASU 2016 – 02 “Leases (Topic 842)”, which requires lessees to recognize right-of-use assets and corresponding liabilities for all leases with an initial term in excess of twelve months. The Update is to be adopted using a modified retrospective approach, which includes a number of practical expedients, that requires leases to be measured and recognized under the new guidance at the beginning of the earliest period presented. The ASU is effective for the Company in its first quarter of fiscal year 2020, with early application permitted, and the Company is currently evaluating the effect this ASU will have on its consolidated financial statements. In January 2016 the FASB issued ASU 2016-01 “Recognition and Measurement of Financial Assets and Financial Liabilities”, which provides targeted improvements to the recognition, measurement, presentation and disclosure of financial assets and financial liabilities. Specific accounting areas addressed include, equity investments, financial liabilities reported under the fair value option and valuation allowance assessment resulting from unrealized losses on available-for-sale securities. The ASU also changes certain presentation and disclosure requirements for financial instruments. The Update is to be applied by means of a cumulative effect adjustment to the balance sheet as of the beginning of the fiscal year of adoption. This ASU is effective for the Company in its first quarter of fiscal year 2019. Early adoption, with certain exceptions, is not permitted. The Company is currently evaluating the effect this ASU will have on its consolidated financial statements. In November 2015 the FASB issued ASU 2015-17 “Balance Sheet Classification of Deferred Taxes”, which requires that deferred tax liabilities and assets be classified as noncurrent in a classified statement of financial position. The Company adopted this ASU, and applied it on a retrospective basis, in the fourth quarter of fiscal year 2016. See Note 11 for the effects of its adoption on the Company’s consolidated financials statements. In April 2015 the FASB issued ASU 2015-03 “Simplifying the Presentation of Debt Issuance Costs”, which requires debt issuance costs related to recognized debt liability to be presented in the balance sheet as a direct deduction from that debt liability, consistent with the presentation of a debt discount. This ASU is effective for the Company in its first quarter of fiscal year 2017 and, upon adoption, should be applied retrospectively. Early adoption is permitted. The Company does not anticipate that the adoption of this ASU will have a material effect on its consolidated financial statements. In May 2014 the FASB issued ASU 2014-09 “Revenue from Contracts with Customers”, which will supersede nearly all existing revenue recognition guidance under accounting principles generally accepted in the United States. The core principle of this ASU is that revenue should be recognized for the amount of consideration expected to be received for promised goods or services transferred to customers. This ASU also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments, and assets recognized for costs incurred to obtain or fulfill a contract. In August 2015 the FASB issued ASU 2015-14 which defers the effective date of ASU 2014-09 by one year and allows entities to early adopt, but no earlier than the original effective date. ASU 2014-09 will now be effective for the Company in its first quarter of fiscal year 2019. ASU 2014-09 allows for either full retrospective or modified retrospective adoption. In April 2016 the FASB issued ASU 2016-10 “Identifying Performance Obligations and Licensing” which amends guidance previously issued on these matters in ASU 2014-09. The effective date and transition requirements of ASU 2016-10 are the same as those for ASU 2014-09. The Company is determining the transition method to elect and the potential effects of the adoption of these Updates on its consolidated financial statements.

SUMMARY OF SIGNIFICANT ACCOUN39

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Oct. 30, 2016
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]
Schedule of Inventory	Inventories are stated at the lower of cost, determined under the first-in, first-out ("FIFO") method, or market. Presented below are the components of inventory at the balance sheet dates: October 30, 2016 November 1, 2015 Finished goods $ 142 $ 861 Work in process 2,987 4,177 Raw materials 18,952 19,119 $ 22,081 $ 24,157

ACQUISITION OF DNP PHOTOMASK 40

ACQUISITION OF DNP PHOTOMASK TECHNOLOGY TAIWAN CO., LTD. (Tables)	12 Months Ended
	Oct. 30, 2016
ACQUISITION OF DNP PHOTOMASK TECHNOLOGY TAIWAN CO., LTD. [Abstract]
Fair values of assets acquired and liabilities assumed	The following table summarizes the fair values of assets acquired and liabilities assumed of DPTT, the fair value of the noncontrolling interests and consideration given for DPTT at the acquisition date. Cash and cash equivalents $ 4,508 Accounts receivable (gross amount of $28,560, of which $500 was estimated to be uncollectable) 28,060 Inventory 1,279 Deferred tax asset 9,787 Other current assets 11,517 Property, plant and equipment 95,431 Identifiable intangible assets 1,552 Other long-term assets 1,328 Accounts payable and accrued expenses (32,410 ) Deferred tax liability (3,042 ) Other long-term liabilities (3,291 ) Total net assets acquired 114,719 Noncontrolling interests retained by DNP 57,348 57,371 Consideration – 49.99% of fair value of PSMC 40,999 Gain on acquisition $ 16,372
Pro forma information	The following unaudited pro forma financial information presents financial information as if the DPTT acquisition had occurred as of the beginning of fiscal year 2014. The pro forma earnings for fiscal year 2014 were adjusted to exclude the above mentioned $2.5 million non-recurring acquisition related costs and the gain on acquisition of $16.4 million. Other material non-recurring pro forma adjustments made to arrive at the below earnings amounts included the add back of additional depreciation recorded against DPTT long-lived assets of $6.6 million. The pro forma information presented does not purport to represent results that would have been achieved had the merger occurred as of the beginning of the earliest period presented, or to have been indicative of the Company’s future financial performance. Year Ended November 2, 2014 Revenues $ 499,968 Net income 23,969 Net income attributable to Photronics, Inc. shareholders 12,169 Diluted earnings per share 0.19

PROPERTY, PLANT AND EQUIPMENT (

PROPERTY, PLANT AND EQUIPMENT (Tables)	12 Months Ended
	Oct. 30, 2016
PROPERTY, PLANT AND EQUIPMENT [Abstract]
Property, plant and equipment	Property, plant and equipment consists of the following: October 30, 2016 November 1, 2015 Land $ 8,036 $ 8,172 Buildings and improvements 121,873 121,472 Machinery and equipment 1,475,755 1,458,623 Leasehold improvements 19,224 18,856 Furniture, fixtures and office equipment 12,700 12,700 Construction in progress 23,961 6,657 1,661,549 1,626,480 Less: Accumulated depreciation and amortization 1,155,115 1,079,196 $ 506,434 $ 547,284
Property under capital leases included in property, plant and equipment	Property under capital leases are included in above property, plant and equipment as follows: October 30, 2016 November 1, 2015 Machinery and equipment $ 34,917 $ 56,245 Less accumulated amortization 10,352 16,054 $ 24,565 $ 40,191

INTANGIBLE ASSETS (Tables)

INTANGIBLE ASSETS (Tables)	12 Months Ended
	Oct. 30, 2016
INTANGIBLE ASSETS [Abstract]
Intangible assets	Intangible assets consist of: As of October 30, 2016 Gross Amount Accumulated Amortization Net Amount Technology license agreement $ 59,616 $ (41,400 ) $ 18,216 Customer relationships 8,657 (7,522 ) 1,135 Software and other 6,444 (5,941 ) 503 $ 74,717 $ (54,863 ) $ 19,854 As of November 1, 2015 Technology license agreement $ 59,616 $ (37,426 ) $ 22,190 Customer relationships 8,616 (7,229 ) 1,387 Supply agreements 6,959 (6,828 ) 131 Software and other 6,577 (5,669 ) 908 $ 81,768 $ (57,152 ) $ 24,616
Intangible asset amortization over the next five years	Intangible asset amortization over the next five years is estimated to be as follows: Fiscal Years: 2017 $ 4,557 2018 4,130 2019 4,092 2020 4,092 2021 2,436

JOINT VENTURE, TECHNOLOGY LIC43

JOINT VENTURE, TECHNOLOGY LICENSE AND OTHER AGREEMENTS WITH MICRON TECHNOLOGY, INC. (Tables)	12 Months Ended
	Oct. 30, 2016
JOINT VENTURE, TECHNOLOGY LICENSE AND OTHER AGREEMENTS WITH MICRON TECHNOLOGY, INC. [Abstract]
Summarized financial information of equity method investment	Summarized financial information of MP Mask is presented below. The financial results of 2016 are through May 5, 2016, the date of the sale of the Joint Venture. As of Fiscal Year End 2016 2015 Current assets $ - $ 30,567 Noncurrent assets - 173,840 Current liabilities - 18,234 Noncurrent liabilities - - Fiscal Year 2016 2015 2014 Net sales $ 49,626 $ 96,068 $ 81,399 Gross profit 2,736 1,215 3,427 Net income (loss) - (151 ) 1,259

LONG-TERM BORROWINGS (Tables)

LONG-TERM BORROWINGS (Tables)	12 Months Ended
	Oct. 30, 2016
LONG-TERM BORROWINGS [Abstract]
Long-term borrowings	Long-term borrowings consist of the following: October 30, 2016 November 1, 2015 3.25% convertible senior notes due in April 2019 $ 57,500 $ 57,500 3.25% convertible senior notes due in April 2016 - 57,500 2.77% capital lease obligation payable through July 2018 10,067 15,346 3.09% capital lease obligation payable through March 2016 - 2,269 67,567 132,615 Less current portion 5,428 65,495 $ 62,139 $ 67,120
Minimum lease payments under the company's capital lease obligations	As of October 30, 2016, minimum lease payments under the Company's capital lease obligation was as follows: Fiscal Years: 2017 $ 5,638 2018 4,698 10,336 Less interest 269 Net minimum lease payments under capital lease 10,067 Less current portion of net minimum lease payments 5,428 Long-term portion of minimum lease payments $ 4,639

OPERATING LEASES (Tables)

OPERATING LEASES (Tables)	12 Months Ended
	Oct. 30, 2016
OPERATING LEASES [Abstract]
Future minimum lease payments under non-cancelable operating leases	At October 30, 2016, future minimum lease payments under non-cancelable operating leases with initial terms in excess of one year were as follows: 2017 $ 2,108 2018 1,059 2019 630 2020 394 2021 380 Thereafter 1,404 $ 5,975

SHARE-BASED COMPENSATION (Table

SHARE-BASED COMPENSATION (Tables)	12 Months Ended
	Oct. 30, 2016
SHARE-BASED COMPENSATION [Abstract]
Weighted-average inputs and risk-free rate of return ranges used to calculate the grant date fair value of options	The weighted-average inputs and risk-free rate of return ranges used to calculate the grant date fair values of stock options issued during fiscal years 2016, 2015 and 2014 are presented in the following Year Ended October 30, 2016 November 1, 2015 November 2, 2014 Expected volatility 48.4 % 53.7 % 61.0 % Risk-free rate of return 1.2 – 1.7 % 1.3 – 1.6 % 1.4 % Dividend yield 0.0 % 0.0 % 0.0 % Expected term 5.1 years 4.7 years 4.6 years
Summary of option activity	The table below presents a summary of stock options activity during fiscal year 2016 and information on stock options outstanding at October 30, 2016. Options Shares Weighted- Average Exercise Price Weighted- Average Remaining Contractual Life Aggregate Intrinsic Value Outstanding at November 1, 2015 3,803,168 $ 7.29 Granted 667,250 11.83 Exercised (572,033 ) 5.37 Cancelled and forfeited (363,050 ) 15.68 Outstanding at October 30, 2016 3,535,335 $ 7.59 6.4 years $ 9,413 Exercisable at October 30, 2016 1,973,635 $ 5.93 4.8 years $ 7,837 Vested and expected to vest as of October 30, 2016 3,438,261 $ 7.53 6.3 years $ 9,309
Summary of the status of the company's outstanding restricted stock awards	A summary of restricted stock award activity during fiscal year 2016 and the status of the Company's outstanding restricted stock awards as of October 30, 2016, is presented below: Restricted Stock Shares Weighted-Average Fair Value at Grant Date Outstanding at November 1, 2015 189,588 $ 7.34 Granted 115,225 12.13 Vested (142,438 ) 8.62 Cancelled - - Outstanding at October 30, 2016 162,375 $ 9.61 Vested and expected to vest as of October 30, 2016 154,245 $ 9.64

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Oct. 30, 2016
INCOME TAXES [Abstract]
Income before income tax provision for domestic and foreign	Income before the income tax provisions consist of the following: Year Ended October 30, 2016 November 1, 2015 November 2, 2014 United States $ 6,270 $ 6,646 $ (23,083 ) Foreign 54,204 63,394 64,413 $ 60,474 $ 70,040 $ 41,330
Income tax provision	The income tax provisions consist of the following: Year Ended October 30, 2016 November 1, 2015 November 2, 2014 Current: Federal $ 492 $ 160 $ 354 State (2 ) (109 ) - Foreign 8,115 9,729 4,726 Deferred: Federal - - - State 10 7 (5 ) Foreign (3,817 ) 3,394 4,220 Total $ 4,798 $ 13,181 $ 9,295
Income tax rate reconciliation	The income tax provisions differ from the amount computed by applying the statutory U.S. federal income tax rate to income before income taxes as a result of the following: Year Ended October 30, 2016 November 1, 2015 November 2, 2014 U.S. federal income tax at statutory rate $ 21,166 $ 24,514 $ 14,465 Changes in valuation allowances (9,516 ) (11,471 ) (7,575 ) Distributions from foreign subsidiaries 3,438 448 12,674 Foreign tax rate differentials (9,620 ) (4,356 ) (4,864 ) Tax credits (944 ) (2,729 ) (2,847 ) Uncertain tax positions, including reserves, settlements and resolutions 134 (175 ) (2,255 ) Gain on acquisition of DPTT - - (5,748 ) Intercompany gain elimination - - 4,759 Tax on foreign subsidiary earnings 225 6,589 - Other, net (85 ) 361 686 $ 4,798 $ 13,181 $ 9,295
Net deferred income tax assets	The net deferred income tax assets consist of the following: As of October 30, 2016 November 1, 2015 Deferred income tax assets Net operating losses $ 46,158 $ 56,582 Reserves not currently deductible 7,876 8,158 Alternative minimum tax credits 3,772 3,281 Tax credit carryforwards 8,814 8,809 Other 1,719 1,782 68,339 78,612 Valuation allowances (29,315 ) (38,763 ) 39,024 39,849 Deferred income tax liabilities: Undistributed earnings of foreign subsidiaries (3,962 ) (5,953 ) Property, plant and equipment (19,977 ) (17,874 ) Investments 74 (4,596 ) Other (328 ) (552 ) (24,193 ) (28,975 ) Net deferred income tax assets $ 14,831 $ 10,874 Reported per adoption of new accounting standard (see below): Deferred income tax assets $ 16,322 $ 13,083 Deferred income tax liabilities (1,491 ) (2,209 ) $ 14,831 $ 10,874
Operating loss carryforwards	The following tables present the Company’s available operating loss and credit carryforwards at October 30, 2016, and their related expiration periods: Operating Loss Carryforwards Amount Expiration Periods Federal $ 98,525 2025-2033 State 211,665 2017-2036 Foreign 27,403 2018-2023
Tax credit carryforwards	Tax Credit Carryforwards Amount Expiration Period Federal research and development $ 5,121 2019-2036 Federal alternative minimum tax 3,772 Indefinite State tax 5,681 2017-2030
Reconciliation of the beginning and ending amount of unrecognized tax benefits, excluding interest and penalties	A reconciliation of the beginning and ending amounts of unrecognized tax benefits, excluding interest and penalties, is as follows: Year Ended October 30, 2016 November 1, 2015 November 2, 2014 Balance at beginning of year $ 4,029 $ 4,993 $ 4,757 Additions (reductions) for tax positions in prior years 744 (212 ) 3,437 Additions based on current year tax positions 268 318 272 Settlements (378 ) (720 ) (3,155 ) Lapses of statutes of limitations (57 ) (350 ) (318 ) Balance at end of year $ 4,606 $ 4,029 $ 4,993
Effect on financial statement deferred income taxes line items of adopting ASU 2015-17	The effect on our fiscal year 2015 financial statement deferred income taxes line items of adopting ASU 2015-17 is presented below. Classification Previously Reported Change Due to Adoption Retrospectively Adjusted Current assets $ 3,354 $ (3,354 ) $ - Noncurrent assets 11,908 1,175 13,083 Noncurrent liabilities 4,388 (2,179 ) 2,209

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	12 Months Ended
	Oct. 30, 2016
EARNINGS PER SHARE [Abstract]
Calculation of basic and diluted earnings per share	The calculation of basic and diluted earnings per share is presented as follows: Year Ended October 30, 2016 November 1, 2015 November 2, 2014 Net income attributable to Photronics, Inc. shareholders $ 46,200 $ 44,625 $ 25,996 Effect of dilutive securities: Interest expense on convertible notes, net of related tax effects 2,938 4,363 1,426 Earnings for diluted earnings per share $ 49,138 $ 48,988 $ 27,422 Weighted-average common shares computations: Weighted-average common shares used for basic earnings per share 67,539 66,331 61,779 Effect of dilutive securities: Convertible notes 7,841 11,085 3,945 Share-based payment awards 974 967 955 Dilutive common shares 8,815 12,052 4,900 Weighted-average common shares used for diluted earnings per share 76,354 78,383 66,679 Basic earnings per share $ 0.68 $ 0.67 $ 0.42 Diluted earnings per share $ 0.64 $ 0.63 $ 0.41
Outstanding securities excluded from the calculation of diluted earnings per share	The table below shows the outstanding weighted-average share-based payment awards that were excluded from the calculation of diluted earnings per share because their exercise price exceeded the average market value of the common shares for the period or, under application of the treasury stock method, they were otherwise determined to be antidilutive. The table also shows convertible notes that, if converted, would have been antidilutive. Year Ended October 30, 2016 November 1, 2015 November 2, 2014 Share based payment awards 1,635 1,641 1,911 Convertible notes - - 11,085 Total potentially dilutive shares excluded 1,635 1,641 12,996

SUBSIDIARY SHARE REPURCHASE (Ta

SUBSIDIARY SHARE REPURCHASE (Tables)	12 Months Ended
	Oct. 30, 2016
SUBSIDIARY SHARE REPURCHASE [Abstract]
Effect of change in the entity's ownership interest in subsidiaries	The table below presents the effect of the change in the Company’s ownership interest in PSMC on the Company's equity for fiscal year 2014, in which shares of PSMC common stock were issued in connection with the DPTT Acquisition. Year Ended November 2, 2014 Net income attributable to Photronics, Inc. shareholders $ 25,996 Decrease in Photronics, Inc.'s additional paid-in capital (6,183 ) Increase in Photronics, Inc.’s accumulated other comprehensive income 399 Change from net income attributable to Photronics, Inc. shareholders due to issuance of shares of PDMC and transfers to or from noncontrolling interests $ 20,212

GEOGRAPHIC AND SIGNIFICANT CU50

GEOGRAPHIC AND SIGNIFICANT CUSTOMER INFORMATION (Tables)	12 Months Ended
	Oct. 30, 2016
GEOGRAPHIC AND SIGNIFICANT CUSTOMER INFORMATION [Abstract]
Geographic information	The Company's 2016, 2015 and 2014 net sales by geographic area and of ICs and FPDs, and long-lived assets by geographic area were as follows: Year Ended October 30, 2016 November 1, 2015 November 2, 2014 Net sales Taiwan $ 193,216 $ 205,141 $ 167,075 Korea 141,017 147,921 140,386 United States 113,670 132,792 106,740 Europe 33,384 35,792 38,726 All other Asia 2,169 2,560 2,600 $ 483,456 $ 524,206 $ 455,527 IC $ 364,531 $ 420,833 $ 352,679 FPD 118,925 103,373 102,848 $ 483,456 $ 524,206 $ 455,527 As of October 30, 2016 November 1, 2015 November 2, 2014 Long-lived assets Taiwan $ 176,644 $ 185,087 $ 207,324 United States 173,658 184,282 158,325 Korea 146,515 167,618 176,141 Europe 9,617 10,287 8,259 All other Asia - 10 20 $ 506,434 $ 547,284 $ 550,069

CHANGES IN ACCUMULATED OTHER 51

CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME BY COMPONENT (Tables)	12 Months Ended
	Oct. 30, 2016
CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME BY COMPONENT [Abstract]
Schedule of changes in accumulated other comprehensive income by component	The following tables set forth the changes in the Company's accumulated other comprehensive income by component (net of tax of $0) for the years ended October 30, 2016 and November 1, 2015: Year Ended October 30, 2016 Foreign Currency Translation Adjustments Amortization of Cash Flow Hedge Other Total Balance at November 1, 2015 $ (9,634 ) $ (306 ) $ (633 ) $ (10,573 ) Other comprehensive income (loss) before reclassifications 6,334 - (589 ) 5,745 Amounts reclassified from other accumulated comprehensive income - 129 - 129 Net current period other comprehensive income (loss) 6,334 129 (589 ) 5,874 Less: other comprehensive (income) loss attributable to noncontrolling interests (3,267 ) - 295 (2,972 ) Balance at October 30, 2016 $ (6,567 ) $ (177 ) $ (927 ) $ (7,671 ) Year Ended November 1, 2015 Foreign Currency Translation Adjustments Amortization of Cash Flow Hedge Other Total Balance at November 2, 2014 $ 22,651 $ (434 ) $ (443 ) $ 21,774 Other comprehensive loss before reclassifications (40,154 ) - (381 ) (40,535 ) Amounts reclassified from other accumulated comprehensive income - 128 - 128 Net current period other comprehensive income (loss) (40,154 ) 128 (381 ) (40,407 ) Less: other comprehensive loss attributable to noncontrolling interests 7,869 - 191 8,060 Balance at November 1, 2015 $ (9,634 ) $ (306 ) $ (633 ) $ (10,573 )

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	12 Months Ended
	Oct. 30, 2016
FAIR VALUE MEASUREMENTS [Abstract]
Fair and carrying values of convertible senior notes	The table below presents the fair and carrying values of the Company's convertible senior notes at October 30, 2016 and November 1, 2015. October 30, 2016 November 1, 2015 Fair Value Carrying Value Fair Value Carrying Value 3.25% convertible senior notes due 2019 $ 68,230 $ 57,500 $ 64,550 $ 57,500 3.25% convertible senior notes due 2016 $ - $ - $ 60,375 $ 57,500

QUARTERLY RESULTS OF OPERATIO53

QUARTERLY RESULTS OF OPERATIONS (UNAUDITED) (Tables)	12 Months Ended
	Oct. 30, 2016
QUARTERLY RESULTS OF OPERATIONS (UNAUDITED) [Abstract]
Quarterly financial data	The following table sets forth certain unaudited quarterly financial data: First Second Third Fourth Year Fiscal 2016: (a) (b) (c) (a)(d) Net sales $ 129,956 $ 122,923 $ 123,209 $ 107,368 $ 483,456 Gross profit 35,436 31,287 31,450 20,533 118,706 Net income 23,501 14,153 11,453 6,569 55,676 Net income attributable to Photronics, Inc. shareholders 21,002 11,854 8,088 5,256 46,200 Earnings per share: Basic $ 0.31 $ 0.18 $ 0.12 $ 0.08 $ 0.68 Diluted $ 0.28 $ 0.16 $ 0.12 $ 0.08 $ 0.64 Fiscal 2015: (e) (e) Net sales $ 123,505 $ 127,309 $ 131,699 $ 141,693 $ 524,206 Gross profit 28,184 33,095 37,243 44,614 143,136 Net income 7,142 12,156 15,410 22,151 56,859 Net income attributable to Photronics, Inc. shareholders 3,837 10,060 12,106 18,622 44,625 Earnings per share: Basic $ 0.06 $ 0.15 $ 0.18 $ 0.28 $ 0.67 Diluted $ 0.06 $ 0.14 $ 0.17 $ 0.25 $ 0.63 (a) Includes $8.8 million gain on sale of investment in a foreign entity. (b) Includes a tax benefit in Taiwan of $1.8 million related to prior years. (c) Includes a tax benefit in Taiwan of $3.0 million related to the recognition of prior period tax benefits and other tax positions no longer deemed necessary. (d) Includes tax benefits in Taiwan of $4.8 million primarily related to the recognition of prior period tax benefits and other tax positions no longer deemed necessary. (e) Includes expenses of $0.9 million of financing expenses related to the exchange of $57.5 million 3.25% convertible senior notes.

SUMMARY OF SIGNIFICANT ACCOUN54

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) $ in Thousands	12 Months Ended
	Oct. 30, 2016USD ($)FacilitySubsidiary	Nov. 01, 2015USD ($)	Nov. 02, 2014USD ($)
Manufacturing Facilities by Geographical Region [Line Items]
Number of manufacturing facilities | Facility	9
Facility construction start date	2,017
Facility production start date	2,018
Inventory [Abstract]
Finished goods | $	$ 142	$ 861
Work in process | $	2,987	4,177
Raw materials | $	18,952	19,119
Inventory | $	22,081	24,157
Foreign Currency [Abstract]
Foreign currency transaction gain (loss) | $	$ (300)	$ 2,500	$ 1,400
Noncontrolling Interest [Abstract]
Number of majority owned subsidiaries | Subsidiary	2
Period of warranty	30 days
Minimum [Member]
Finite-Lived Intangible Assets [Line Items]
Estimated useful lives	3 years
Maximum [Member]
Finite-Lived Intangible Assets [Line Items]
Estimated useful lives	15 years
Buildings and Improvements [Member] | Minimum [Member]
Property, Plant and Equipment [Abstract]
Estimated useful lives	15 years
Buildings and Improvements [Member] | Maximum [Member]
Property, Plant and Equipment [Abstract]
Estimated useful lives	40 years
Machinery and Equipment [Member] | Minimum [Member]
Property, Plant and Equipment [Abstract]
Estimated useful lives	3 years
Machinery and Equipment [Member] | Maximum [Member]
Property, Plant and Equipment [Abstract]
Estimated useful lives	10 years
Furniture, Fixtures and Office Equipment [Member] | Minimum [Member]
Property, Plant and Equipment [Abstract]
Estimated useful lives	3 years
Furniture, Fixtures and Office Equipment [Member] | Maximum [Member]
Property, Plant and Equipment [Abstract]
Estimated useful lives	5 years
PK Ltd [Member]
Noncontrolling Interest [Abstract]
Ownership percentage of noncontrolling interests	0.30%	0.20%
PDMC [Member]
Noncontrolling Interest [Abstract]
Ownership percentage of noncontrolling interests	49.99%	49.99%
Europe [Member]
Manufacturing Facilities by Geographical Region [Line Items]
Number of manufacturing facilities | Facility	2
Taiwan [Member]
Manufacturing Facilities by Geographical Region [Line Items]
Number of manufacturing facilities | Facility	3
Korea [Member]
Manufacturing Facilities by Geographical Region [Line Items]
Number of manufacturing facilities | Facility	1
United States [Member]
Manufacturing Facilities by Geographical Region [Line Items]
Number of manufacturing facilities | Facility	3

ACQUISITION OF DNP PHOTOMASK 55

ACQUISITION OF DNP PHOTOMASK TECHNOLOGY TAIWAN CO., LTD. (Details) - USD ($) shares in Millions, $ in Millions	Apr. 04, 2014	Nov. 02, 2014	Nov. 02, 2014	Oct. 30, 2016
Business Acquisition [Line Items]
Date of acquisition	Apr. 4, 2014
Consideration transferred	$ 98.3
Ownership percentage in PDMC				50.01%
Acquisition costs related to the merger included in selling, general and administrative expense			$ 2.5
Customer Relationships [Member]
Business Acquisition [Line Items]
Estimated amortization period		12 years
DNP [Member]
Business Acquisition [Line Items]
Ownership percentage of noncontrolling interests				49.99%
PSMC [Member]
Business Acquisition [Line Items]
Number of shares transferred to noncontrolling interests (in shares)	112.9
DPTT [Member]
Business Acquisition [Line Items]
Pro forma adjustment for additional depreciation recorded on acquired long-lived assets			$ 6.6
PDMC [Member]
Business Acquisition [Line Items]
Revenues		$ 101.8
Net income		$ 6

ACQUISITION OF DNP PHOTOMASK 56

ACQUISITION OF DNP PHOTOMASK TECHNOLOGY TAIWAN CO., LTD., Fair Values of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Apr. 04, 2014	Oct. 30, 2016	Nov. 01, 2015	Nov. 02, 2014
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net [Abstract]
Gain on acquisition		$ 0	$ 0	$ 16,372
PDMC [Member]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net [Abstract]
Cash and cash equivalents	$ 4,508
Accounts receivable (gross amount of $28,560, of which $500 was estimated to be uncollectable)	28,060
Inventory	1,279
Deferred tax asset	9,787
Other current assets	11,517
Property, plant and equipment	95,431
Identifiable intangible assets	1,552
Other long-term assets	1,328
Accounts payable and accrued expenses	(32,410)
Deferred tax liability	(3,042)
Other long-term liabilities	(3,291)
Total net assets acquired	114,719
Noncontrolling interests retained by DNP	57,348
Total net assets acquired less noncontrolling interests	57,371
Consideration - 49.99% of fair value of PSMC	40,999
Gain on acquisition	16,372
Accounts receivable gross amount	28,560
Accounts receivable estimated to be uncollectable	$ 500

ACQUISITION OF DNP PHOTOMASK 57

ACQUISITION OF DNP PHOTOMASK TECHNOLOGY TAIWAN CO., LTD., Pro Forma Information (Details) - USD ($) $ / shares in Units, $ in Thousands

3 Months Ended

12 Months Ended

Oct. 30, 2016

[1]

Jul. 31, 2016

May 01, 2016

[2]

Jan. 31, 2016

[3]

Nov. 01, 2015

Aug. 02, 2015

May 03, 2015

Feb. 01, 2015

[4]

Oct. 30, 2016

[3],[5]

Nov. 01, 2015

[4]

Nov. 02, 2014

Business Acquisition, Pro Forma Information [Abstract]

Revenues

$ 499,968

Net income

23,969

Net income attributable to Photronics, Inc. shareholders

$ 5,256

$ 8,088

$ 11,854

$ 21,002

$ 18,622

$ 12,106

$ 10,060

$ 3,837

$ 46,200

$ 44,625

$ 25,996

Diluted earnings per share (in dollars per share)

$ 0.19

Pro Forma [Member]

Business Acquisition, Pro Forma Information [Abstract]

Net income attributable to Photronics, Inc. shareholders

$ 12,169

[1]

Includes a tax benefit in Taiwan of $3.0 million related to the recognition of prior period tax benefits and other tax positions no longer deemed necessary.

[2]

Includes a tax benefit in Taiwan of $1.8 million related to prior years.

[3]

Includes $8.8 million gain on sale of investment in a foreign entity.

[4]

Includes expenses of $0.9 million of financing expenses related to the exchange of $57.5 million 3.25% convertible senior notes.

[5]

Includes tax benefits in Taiwan of $4.8 million primarily related to the recognition of prior period tax benefits and other tax positions no longer deemed necessary.

PROPERTY, PLANT AND EQUIPMENT58

PROPERTY, PLANT AND EQUIPMENT (Details) - USD ($) $ in Thousands	Oct. 30, 2016	Nov. 01, 2015	Nov. 02, 2014
Property, plant and equipment [Abstract]
Property, plant and equipment, gross	$ 1,661,549	$ 1,626,480
Less: Accumulated depreciation and amortization	1,155,115	1,079,196
Property, plant and equipment, net	506,434	547,284	$ 550,069
Property under capital leases included in property, plant and equipment [Abstract]
Capital leased assets, gross	34,917	56,245
Less accumulated amortization	10,352	16,054
Capital leased assets, net	24,565	40,191
Land [Member]
Property, plant and equipment [Abstract]
Property, plant and equipment, gross	8,036	8,172
Buildings and Improvements [Member]
Property, plant and equipment [Abstract]
Property, plant and equipment, gross	121,873	121,472
Machinery and Equipment [Member]
Property, plant and equipment [Abstract]
Property, plant and equipment, gross	1,475,755	1,458,623
Leasehold Improvements [Member]
Property, plant and equipment [Abstract]
Property, plant and equipment, gross	19,224	18,856
Furniture, Fixtures and Office Equipment [Member]
Property, plant and equipment [Abstract]
Property, plant and equipment, gross	12,700	12,700
Construction in Progress [Member]
Property, plant and equipment [Abstract]
Property, plant and equipment, gross	$ 23,961	$ 6,657

INTANGIBLE ASSETS (Details)

INTANGIBLE ASSETS (Details) - USD ($) $ in Thousands	12 Months Ended
	Oct. 30, 2016	Nov. 01, 2015	Nov. 02, 2014
Finite-Lived Intangible Assets [Line Items]
Amortization of intangible assets	$ 4,800	$ 6,000	$ 5,800
Weighted-average amortization period for intangible assets acquired during the year	3 years	3 years
Intangible assets, net [Abstract]
Gross Amount	$ 74,717	$ 81,768
Accumulated Amortization	(54,863)	(57,152)
Net Amount	19,854	24,616
Intangible asset amortization over the next five years [Abstract]
2,017	4,557
2,018	4,130
2,019	4,092
2,020	4,092
2,021	2,436
Technology License Agreement [Member]
Intangible assets, net [Abstract]
Gross Amount	59,616	59,616
Accumulated Amortization	(41,400)	(37,426)
Net Amount	18,216	22,190
Customer Relationships [Member]
Intangible assets, net [Abstract]
Gross Amount	8,657	8,616
Accumulated Amortization	(7,522)	(7,229)
Net Amount	$ 1,135	1,387
Supply Agreements [Member]
Intangible assets, net [Abstract]
Gross Amount		6,959
Accumulated Amortization		(6,828)
Net Amount		$ 131
Software and Other [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted-average amortization period for intangible assets acquired during the year	3 years	3 years
Intangible assets, net [Abstract]
Gross Amount	$ 6,444	$ 6,577
Accumulated Amortization	(5,941)	(5,669)
Net Amount	$ 503	$ 908

JOINT VENTURE, TECHNOLOGY LIC60

JOINT VENTURE, TECHNOLOGY LICENSE AND OTHER AGREEMENTS WITH MICRON TECHNOLOGY, INC. (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	May 31, 2016	Oct. 30, 2016	Nov. 01, 2015	Nov. 02, 2014
Variable Interest Entity [Line Items]
Variable interest entity, methodology for determining whether entity is primary beneficiary		This joint venture was a variable interest entity ("VIE") (as that term is defined in the ASC) because all costs of the joint venture were passed on to the Company and Micron through purchase agreements they had entered into with the joint venture, and it was dependent upon the Company and Micron for any additional cash requirements. On a quarterly basis the Company reassessed whether its interest in MP Mask gave it a controlling financial interest in this VIE. The purpose of this quarterly reassessment was to identify the primary beneficiary (which is defined in the ASC as the entity that consolidates a VIE) of the VIE. As a result of the reassessments in fiscal year 2016, the Company determined that Micron remained the primary beneficiary of the VIE, by virtue of its tie-breaking voting rights within MP Mask’s Board of Managers, thereby having given it the power to direct the activities of MP Mask that most significantly impacted its economic performance, including its decision making authority in the ordinary course of business and its purchasing the majority of products produced by the VIE.
Amount receivable from Micron Technology, Inc.		$ 92,636	$ 110,056
Amortization of supply agreement		4,800	6,000	$ 5,800
Cost of sales		364,750	381,070	355,181
Research and development expenses		21,654	21,920	21,913
Summarized financial information of MP Mask [Abstract]
Current assets		0	30,567
Noncurrent assets		0	173,840
Current liabilities		0	18,234
Noncurrent liabilities		0	0
Net sales		49,626	96,068	81,399
Gross profit		2,736	1,215	3,427
Net income (loss)		0	(151)	1,259
MP Mask [Member]
Variable Interest Entity [Line Items]
Additional investment in joint venture		0	0
Distributions from joint venture		0	0
Maximum exposure to loss from investment in VIE			93,000
Income (loss) from equity-method investee		(100)	(100)	0
Amount owed to MP Mask			4,300	4,200
Commission revenue earned under supply agreement		400	800	1,200
Amortization of supply agreement		100	200	200
Cost of sales		5,700	4,800	3,200
Research and development expenses		$ 500	3,100	1,600
Purchase of equipment				1,300
Proceeds from sale of equity method investment	$ 93,100
Gain on sale of equity method investment	$ 100
Co-venturer [Member]
Variable Interest Entity [Line Items]
Amount receivable from Micron Technology, Inc.			$ 6,400	$ 6,800
Initial term of supply agreement term subject to mutually agreeable renewals	1 year

ACCRUED LIABILITIES (Details)

ACCRUED LIABILITIES (Details) - USD ($) $ in Millions	Oct. 30, 2016	Nov. 01, 2015
ACCRUED LIABILITIES [Abstract]
Salaries, wages and related benefits	$ 8.2	$ 14.3
Income taxes	6.2
Acquisition liabilities		7.1
Other accrued liabilities	$ 9.8	$ 17.8

LONG-TERM BORROWINGS (Details)

LONG-TERM BORROWINGS (Details)	1 Months Ended		12 Months Ended
	Apr. 30, 2016USD ($)shares$ / shares	Jan. 31, 2015USD ($)shares$ / shares	Oct. 30, 2016USD ($)	Nov. 01, 2015USD ($)	Nov. 02, 2014USD ($)
Long-term borrowings and Long-term Debt, unclassified [Abstract]
Long-term debt and capital lease obligations			$ 67,567,000	$ 132,615,000
Less current portion			5,428,000	65,495,000
Long-term debt and capital lease obligations non current			62,139,000	67,120,000
Interest payments			3,200,000	4,400,000	$ 6,300,000
Deferred financing cost payments			0	0	$ 346,000
Minimum lease payments under the Company's capital lease obligations [Abstract]
2,017			5,638,000
2,018			4,698,000
Future minimum payments due			10,336,000
Less interest			269,000
Net minimum lease payments under capital lease			10,067,000
Less current portion of net minimum lease payments			5,428,000
Long-term portion of minimum lease payments			$ 4,639,000
Credit Facility [Member]
Long-term borrowings and Long-term Debt, unclassified [Abstract]
Maturity date of debt			Dec. 31, 2018
Variable interest rate			1.78%
Maximum borrowing capacity			$ 75,000,000
Current borrowing capacity			50,000,000
Available borrowing capacity			50,000,000
Amount outstanding under credit facility			0
3.25% Convertible Senior Notes due in April 2019 [Member]
Long-term borrowings and Long-term Debt, unclassified [Abstract]
Convertible Debt			$ 57,500,000	57,500,000
Interest rate percentage			3.25%
Maturity date of debt			Apr. 1, 2019
Number of shares each note is convertible to (in shares) | shares		96
Face amount of each note converted		$ 1,000
Conversion price per share (in dollars per share) | $ / shares		$ 10.37
3.25% Convertible Senior Notes due in April 2016 [Member]
Long-term borrowings and Long-term Debt, unclassified [Abstract]
Convertible Debt			$ 0	57,500,000
Interest rate percentage	3.25%
Maturity date of debt	Apr. 1, 2016
Repayments of convertible debt	$ 50,100,000
Conversion of debt to common stock (in shares) | shares	700,000
Number of shares each note is convertible to (in shares) | shares	96
Face amount of each note converted	$ 1,000
Conversion price per share (in dollars per share) | $ / shares	$ 10.37
2.77% Capital Lease Obligation Payable through July 2018 [Member]
Long-term borrowings and Long-term Debt, unclassified [Abstract]
Long-term debt and capital lease obligations			$ 10,067,000	15,346,000
Interest rate percentage			2.77%
Maturity date of debt			Jul. 31, 2018
Original face amount of debt			$ 26,400,000
Periodic payments			$ 500,000
Frequency of periodic payment			per month
Repayment period of debt			5 years
Amount payable through the end of lease term			$ 10,300,000
Minimum lease payments under the Company's capital lease obligations [Abstract]
Less interest			200,000
3.09% Capital Lease Obligation Payable through March 2016 [Member]
Long-term borrowings and Long-term Debt, unclassified [Abstract]
Long-term debt and capital lease obligations			$ 0	$ 2,269,000
Interest rate percentage			3.09%
Maturity date of debt			Mar. 30, 2016
Original face amount of debt			$ 21,200,000
Periodic payments			$ 400,000
Frequency of periodic payment			per month
Repayment period of debt			5 years

OPERATING LEASES (Details)

OPERATING LEASES (Details) - USD ($) $ in Thousands	12 Months Ended
	Oct. 30, 2016	Nov. 01, 2015	Nov. 02, 2014
OPERATING LEASES [Abstract]
Rent expense under operating leases	$ 2,800	$ 2,800	$ 2,800
Future minimum lease payments under non-cancelable operating leases [Abstract]
2,017	2,108
2,018	1,059
2,019	630
2,020	394
2,021	380
Thereafter	1,404
Total future minimum payments due	$ 5,975

SHARE-BASED COMPENSATION (Detai

SHARE-BASED COMPENSATION (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Oct. 30, 2016	Nov. 01, 2015	Nov. 02, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Date and terms of plan modification	In March 2016 shareholders approved a new equity incentive compensation plan (“the Plan”), under which incentive stock options, non-qualified stock options, stock grants, stock-based awards, restricted stock, restricted stock units, stock appreciation rights, performance units, performance stock, and other stock or cash awards may be granted.
Maximum number of shares of common stock that may be issued (in shares)	4,000,000
Share-based compensation costs incurred	$ 3,800	$ 3,700	$ 4,100
Share-based compensation cost capitalized	0	0	0
Income tax benefits realized from stock option exercises	$ 0	$ 0	$ 0
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Contractual term	10 years
Weighted-average inputs and risk-free rate of return ranges used to calculate the grant date fair value of options [Abstract]
Expected volatility	48.40%	53.70%	61.00%
Risk-free rate of return			1.40%
Dividend yield	0.00%	0.00%	0.00%
Expected term	5 years 1 month 6 days	4 years 8 months 12 days	4 years 7 months 6 days
Shares [Rollforward]
Outstanding at beginning of period (in shares)	3,803,168
Granted (in shares)	667,250
Exercised (in shares)	(572,033)
Cancelled and forfeited (in shares)	(363,050)
Outstanding at end of period (in shares)	3,535,335	3,803,168
Exercisable at end of period (in shares)	1,973,635
Vested and expected to vest (in shares)	3,438,261
Weighted-Average Exercise Price [Abstract]
Outstanding at beginning of period (in dollars per share)	$ 7.29
Granted (in dollars per share)	11.83
Exercised (in dollars per share)	5.37
Cancelled and forfeited (in dollars per share)	15.68
Outstanding at end of period (in dollars per share)	7.59	$ 7.29
Exercisable at end of period (in dollars per share)	5.93
Vested and expected to vest (in dollars per share)	$ 7.53
Weighted-Average Remaining Contractual Life [Abstract]
Outstanding at end of period	6 years 4 months 24 days
Exercisable at end of period	4 years 9 months 18 days
Vested and expected to vest	6 years 3 months 18 days
Aggregate Intrinsic Value [Abstract]
Outstanding at end of period	$ 9,413
Exercisable at end of period	7,837
Vested and expected to vest	$ 9,309
Stock Options Additional Disclosures [Abstract]
Weighted-average grant date fair value of options granted (in dollars per share)	$ 4.51	$ 3.81	$ 4.44
Total intrinsic value of options exercised	$ 3,500	$ 2,000	$ 1,400
Cash received from options exercises	3,100	$ 2,200	1,100
Unrecognized compensation cost related to unvested option awards	$ 4,300
Period for recognition of compensation cost not yet recognized	2 years 6 months
Stock Options [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	1 year
Weighted-average inputs and risk-free rate of return ranges used to calculate the grant date fair value of options [Abstract]
Risk-free rate of return	1.20%	1.30%
Stock Options [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	4 years
Weighted-average inputs and risk-free rate of return ranges used to calculate the grant date fair value of options [Abstract]
Risk-free rate of return	1.70%	1.60%
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total fair value of awards for which restrictions lapsed	$ 1,700	$ 1,400	$ 1,500
Compensation cost not yet recognized related to share based payment awards other than options	$ 1,000
Stock Options Additional Disclosures [Abstract]
Period for recognition of compensation cost not yet recognized	2 years 2 months 12 days
Shares [Rollforward]
Outstanding at beginning of period (in shares)	189,588
Granted (in shares)	115,225
Vested (in shares)	(142,438)
Cancelled (in shares)	0
Outstanding at end of period (in shares)	162,375	189,588
Vested and expected to vest (in shares)	154,245
Weighted-Average Fair Value at Grant Date [Abstract]
Outstanding at beginning of period (in dollars per share)	$ 7.34
Granted (in dollars per share)	12.13	$ 8.28	$ 8.86
Vested (in dollars per share)	8.62
Cancelled (in dollars per share)	0
Outstanding at end of period (in dollars per share)	9.61	$ 7.34
Vested and expected to vest (in dollars per share)	$ 9.64
Restricted Stock [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	1 year
Restricted Stock [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	4 years
Employee Stock Purchase Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum number of shares of common stock that may be issued (in shares)	1,500,000
Award vesting period	1 year
Compensation cost not yet recognized related to share based payment awards other than options	$ 100
Percent of market price that participants pay for shares subscribed	85.00%
Total shares issued under ESPP since inception (in shares)	1,300,000
Shares [Rollforward]
Outstanding at end of period (in shares)	67,000

EMPLOYEE RETIREMENT PLANS (Deta

EMPLOYEE RETIREMENT PLANS (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 30, 2016	Nov. 01, 2015	Nov. 02, 2014
EMPLOYEE RETIREMENT PLANS [Abstract]
Number of months of service completed to come under retirement plan	3 months
Minimum age of employees to come under retirement plan	18 years
Percentage of salary that can be contributed by the employee	50.00%
Maximum percentage of employees' contributions that Company will match	50.00%
Maximum percentage of employees' gross pay that Company will match	4.00%
Company's contribution to defined contribution retirement plans	$ 0.6	$ 0.7	$ 0.7

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Thousands	12 Months Ended
	Oct. 30, 2016	Nov. 01, 2015	Nov. 02, 2014	Nov. 03, 2013
Components of income before income tax provision [Abstract]
United States	$ 6,270	$ 6,646	$ (23,083)
Foreign	54,204	63,394	64,413
Income before income tax provision	60,474	70,040	41,330
Current [Abstract]
Federal	492	160	354
State	(2)	(109)	0
Foreign	8,115	9,729	4,726
Deferred [Abstract]
Federal	0	0	0
State	10	7	(5)
Foreign	(3,817)	3,394	4,220
Income Tax Expense, Total	4,798	13,181	9,295
Income tax provision reconciliation [Abstract]
U.S. federal income tax at statutory rate	21,166	24,514	14,465
Changes in valuation allowances	(9,516)	(11,471)	(7,575)
Distributions from foreign subsidiaries	3,438	448	12,674
Foreign tax rate differentials	(9,620)	(4,356)	(4,864)
Tax credits	(944)	(2,729)	(2,847)
Uncertain tax positions, including reserves, settlements and resolutions	134	(175)	(2,255)
Gain on acquisition of DPTT	0	0	(5,748)
Intercompany gain elimination	0	0	4,759
Tax on foreign subsidiary earnings	225	6,589	0
Other, net	(85)	361	686
Income Tax Expense, Total	$ 4,798	$ 13,181	$ 9,295
U.S. statutory rate	35.00%	35.00%	35.00%
Deferred income tax assets [Abstract]
Net operating losses	$ 46,158	$ 56,582
Reserves not currently deductible	7,876	8,158
Alternative minimum tax credits	3,772	3,281
Tax credit carryforwards	8,814	8,809
Other	1,719	1,782
Deferred tax assets	68,339	78,612
Valuation allowances	(29,315)	(38,763)
Deferred tax assets net of valuation allowance	39,024	39,849
Deferred income tax liabilities [Abstract]
Undistributed earnings of foreign subsidiaries	(3,962)	(5,953)
Property, plant and equipment	(19,977)	(17,874)
Investments	74	(4,596)
Other	(328)	(552)
Deferred income taxes liabilities	(24,193)	(28,975)
Net deferred income tax assets	14,831	10,874
Reported per adoption of new accounting standard (see below) [Abstract]
Deferred income tax assets	16,322	13,083
Deferred income tax liabilities	(1,491)	(2,209)
Net deferred income tax assets	14,831	10,874
Income Tax Uncertainties [Abstract]
Interest and penalties accrued related to uncertain tax positions	100	100	$ 100
Unrecognized tax benefits	4,606	4,029	4,993	$ 4,757
Recorded in Other Liabilities [Member]
Income Tax Uncertainties [Abstract]
Unrecognized tax benefits that would impact effective tax rate	$ 4,600	$ 4,100	5,000
Adjustment of Deferred Tax Asset [Member]
Income Tax Uncertainties [Abstract]
Unrecognized tax benefits			$ 100

INCOME TAXES, UNRECOGNIZED TAX

INCOME TAXES, UNRECOGNIZED TAX BENEFITS AND CARRYFORWARDS (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Oct. 30, 2016	Nov. 01, 2015	Nov. 02, 2014
Reconciliation of the beginning and ending amount of unrecognized tax benefits, excluding interest and penalties [Roll Forward]
Balance at beginning of year	$ 4,029	$ 4,993	$ 4,757
Reductions for tax positions in prior years		(212)
Additions for tax positions in prior years	744		3,437
Additions based on current year tax positions	268	318	272
Settlements	(378)	(720)	(3,155)
Lapses of statutes of limitations	(57)	(350)	(318)
Balance at end of year	4,606	4,029	4,993
Valuation Allowance [Abstract]
Valuation allowance change	(5,200)	(9,300)	(7,100)
Income taxes, additional disclosures [Abstract]
Undistributed earnings of foreign subsidiaries included in consolidated retained earnings	176,600
Earnings of foreign subsidiaries included in consolidated retained earnings which are considered not to be permanently reinvested	11,300
Remaining undistributed earnings considered to be indefinitely invested	165,300
Dollar effect of income tax holiday	$ 500	$ 200	$ 0
Per share effect of income tax holiday (dollars per share)	$ 0	$ 0	$ 0
Term of tax year holidays	5 years
Income taxes paid	$ 11,400	$ 4,900	$ 5,200
Cash received for refunds of income taxes	200	100	$ 1,400
Financial Statement Deferred Income Taxes [Abstract]
Noncurrent assets	16,322	13,083
Noncurrent liabilities	1,491	2,209
ASU 2015-17 [Member] | Previously Reported [Member]
Financial Statement Deferred Income Taxes [Abstract]
Current assets	3,354
Noncurrent assets	11,908
Noncurrent liabilities	4,388
ASU 2015-17 [Member] | Change Due to Adoption [Member]
Financial Statement Deferred Income Taxes [Abstract]
Current assets	(3,354)
Noncurrent assets	1,175
Noncurrent liabilities	(2,179)
ASU 2015-17 [Member] | Retrospectively Adjusted [Member]
Financial Statement Deferred Income Taxes [Abstract]
Current assets	0
Noncurrent assets	13,083
Noncurrent liabilities	2,209
Federal research and development [Member]
Tax Credit Carryforward [Line Items]
Tax credit carryfoward amount	$ 5,121
Federal research and development [Member] | Minimum [Member]
Tax Credit Carryforward [Line Items]
Expiration period	Oct. 31, 2019
Federal research and development [Member] | Maximum [Member]
Tax Credit Carryforward [Line Items]
Expiration period	Oct. 31, 2036
Federal alternate minimum tax [Member]
Tax Credit Carryforward [Line Items]
Tax credit carryfoward amount	$ 3,772
State tax [Member]
Tax Credit Carryforward [Line Items]
Tax credit carryfoward amount	$ 5,681
State tax [Member] | Minimum [Member]
Tax Credit Carryforward [Line Items]
Expiration period	Oct. 31, 2017
State tax [Member] | Maximum [Member]
Tax Credit Carryforward [Line Items]
Expiration period	Oct. 31, 2030
Domestic Tax Authority [Member]
Operating Loss Carryforward [Abstract]
Operating Loss Carryforwards	$ 98,525
Domestic Tax Authority [Member] | Minimum [Member]
Operating Loss Carryforward [Abstract]
Expiration Periods	Oct. 31, 2025
Domestic Tax Authority [Member] | Maximum [Member]
Operating Loss Carryforward [Abstract]
Expiration Periods	Oct. 31, 2033
Foreign Tax Authority [Member]
Operating Loss Carryforward [Abstract]
Operating Loss Carryforwards	$ 27,403
Foreign Tax Authority [Member] | Minimum [Member]
Operating Loss Carryforward [Abstract]
Expiration Periods	Oct. 31, 2018
Income taxes, additional disclosures [Abstract]
Income tax holiday termination date	October 31, 2017
Foreign Tax Authority [Member] | Maximum [Member]
Operating Loss Carryforward [Abstract]
Expiration Periods	Oct. 31, 2023
Income taxes, additional disclosures [Abstract]
Income tax holiday termination date	October 31, 2019
State tax [Member]
Operating Loss Carryforward [Abstract]
Operating Loss Carryforwards	$ 211,665
State tax [Member] | Minimum [Member]
Operating Loss Carryforward [Abstract]
Expiration Periods	Oct. 31, 2017
State tax [Member] | Maximum [Member]
Operating Loss Carryforward [Abstract]
Expiration Periods	Oct. 31, 2036
Foreign jurisdictions [Member]
Valuation Allowance [Abstract]
Valuation allowance change	$ 4,300	$ 1,500

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended													12 Months Ended
	Jan. 30, 2017	Oct. 30, 2016	[1]	Jul. 31, 2016	May 01, 2016	[2]	Jan. 31, 2016	[3]	Nov. 01, 2015	Aug. 02, 2015	May 03, 2015	Feb. 01, 2015	[4]	Oct. 30, 2016		Nov. 01, 2015		Nov. 02, 2014
Calculation of basic and diluted earnings per share [Abstract]
Net income attributable to Photronics, Inc. shareholders		$ 5,256		$ 8,088	$ 11,854		$ 21,002		$ 18,622	$ 12,106	$ 10,060	$ 3,837		$ 46,200	[3],[5]	$ 44,625	[4]	$ 25,996
Effect of dilutive securities [Abstract]
Interest expense on convertible notes, net of related tax effects														2,938		4,363		1,426
Earnings for diluted earnings per share														$ 49,138		$ 48,988		$ 27,422
Weighted-average common shares computations [Abstract]
Weighted-average common shares used for basic earnings per share (in shares)														67,539		66,331		61,779
Effect of dilutive securities [Abstract]
Convertible notes (in shares)														7,841		11,085		3,945
Share-based payment awards (in shares)														974		967		955
Dilutive common shares (in shares)														8,815		12,052		4,900
Weighted-average common shares used for diluted earnings per share (in shares)														76,354		78,383		66,679
Basic earnings per share (in dollars per share)		$ 0.08		$ 0.12	$ 0.18		$ 0.31		$ 0.28	$ 0.18	$ 0.15	$ 0.06		$ 0.68	[3],[5]	$ 0.67	[4]	$ 0.42
Diluted earnings per share (in dollars per share)		$ 0.08		$ 0.12	$ 0.16		$ 0.28		$ 0.25	$ 0.17	$ 0.14	$ 0.06		$ 0.64	[3],[5]	$ 0.63	[4]	$ 0.41
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total potentially dilutive shares excluded (in shares)														1,635		1,641		12,996
Subsequent Event [Member]
Subsequent Event [Line Items]
Share-based payment awards issued after fiscal year 2016 (in shares)	600
Share-based Payment Awards [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total potentially dilutive shares excluded (in shares)														1,635		1,641		1,911
Convertible Notes [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total potentially dilutive shares excluded (in shares)														0		0		11,085
[1]	Includes a tax benefit in Taiwan of $3.0 million related to the recognition of prior period tax benefits and other tax positions no longer deemed necessary.
[2]	Includes a tax benefit in Taiwan of $1.8 million related to prior years.
[3]	Includes $8.8 million gain on sale of investment in a foreign entity.
[4]	Includes expenses of $0.9 million of financing expenses related to the exchange of $57.5 million 3.25% convertible senior notes.
[5]	Includes tax benefits in Taiwan of $4.8 million primarily related to the recognition of prior period tax benefits and other tax positions no longer deemed necessary.

SUBSIDIARY SHARE REPURCHASE (De

SUBSIDIARY SHARE REPURCHASE (Details) - USD ($) $ in Thousands

1 Months Ended

3 Months Ended

12 Months Ended

Jan. 31, 2014

Oct. 30, 2016

[1]

Jul. 31, 2016

May 01, 2016

[2]

Jan. 31, 2016

[3]

Nov. 01, 2015

Aug. 02, 2015

May 03, 2015

Feb. 01, 2015

[4]

Oct. 30, 2016

Nov. 01, 2015

Nov. 02, 2014

Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]

Payment to minority shareholders

$ 966

$ 0

$ 0

Effect of the change in the entity's ownership interest in PSMC [Abstract]

Net income attributable to Photronics, Inc. shareholders

$ 5,256

$ 8,088

$ 11,854

$ 21,002

$ 18,622

$ 12,106

$ 10,060

$ 3,837

$ 46,200

[3],[5]

$ 44,625

[4]

25,996

Change from net income attributable to Photronics, Inc. shareholders due to issuance of shares of PDMC and transfers to or from noncontrolling interests

20,212

Additional Paid-in Capital [Member]

Effect of the change in the entity's ownership interest in PSMC [Abstract]

Increase (decrease) in Photronics, Inc.'s additional paid-in capital and accumulated other comprehensive income

(6,183)

Accumulated Other Comprehensive Income [Member]

Effect of the change in the entity's ownership interest in PSMC [Abstract]

Increase (decrease) in Photronics, Inc.'s additional paid-in capital and accumulated other comprehensive income

$ 399

PSMC [Member]

Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]

Ownership percentage in subsidiary

100.00%

Payment to minority shareholders

$ 1,700

[1]

Includes a tax benefit in Taiwan of $3.0 million related to the recognition of prior period tax benefits and other tax positions no longer deemed necessary.

[2]

Includes a tax benefit in Taiwan of $1.8 million related to prior years.

[3]

Includes $8.8 million gain on sale of investment in a foreign entity.

[4]

Includes expenses of $0.9 million of financing expenses related to the exchange of $57.5 million 3.25% convertible senior notes.

[5]

Includes tax benefits in Taiwan of $4.8 million primarily related to the recognition of prior period tax benefits and other tax positions no longer deemed necessary.

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) $ in Millions	Oct. 30, 2016USD ($)
COMMITMENTS AND CONTINGENCIES [Abstract]
Outstanding commitments for capital expenditure	$ 51
Recorded purchase commitments	9
Total unrecorded purchase commitments	$ 60

GEOGRAPHIC AND SIGNIFICANT CU71

GEOGRAPHIC AND SIGNIFICANT CUSTOMER INFORMATION (Details) - USD ($) $ in Thousands	3 Months Ended												12 Months Ended
	Oct. 30, 2016		Jul. 31, 2016	May 01, 2016	[2]	Jan. 31, 2016	[3]	Nov. 01, 2015	Aug. 02, 2015	May 03, 2015	Feb. 01, 2015	[4]	Oct. 30, 2016		Nov. 01, 2015		Nov. 02, 2014
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	$ 107,368	[1]	$ 123,209	$ 122,923		$ 129,956		$ 141,693	$ 131,699	$ 127,309	$ 123,505		$ 483,456	[3],[5]	$ 524,206	[4]	$ 455,527
Long-lived assets	506,434							547,284					506,434		547,284		550,069
IC [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales													364,531		420,833		352,679
FPD [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales													118,925		103,373		102,848
Taiwan [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales													193,216		205,141		167,075
Long-lived assets	176,644							185,087					176,644		185,087		207,324
Korea [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales													141,017		147,921		140,386
Long-lived assets	146,515							167,618					146,515		167,618		176,141
United States [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales													113,670		132,792		106,740
Long-lived assets	173,658							184,282					173,658		184,282		158,325
Europe [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales													33,384		35,792		38,726
Long-lived assets	9,617							10,287					9,617		10,287		8,259
All Other Asia [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales													2,169		2,560		2,600
Long-lived assets	$ 0							$ 10					$ 0		$ 10		$ 20
Sales Revenue, Net [Member] | Customer Concentration Risk [Member] | One Customer Accounted [Member]
Concentration Risk [Line Items]
Percent of net sales accounted for by significant customer													19.00%		18.00%		16.00%
Sales Revenue, Net [Member] | Customer Concentration Risk [Member] | Other Customer Accounted [Member]
Concentration Risk [Line Items]
Percent of net sales accounted for by significant customer													17.00%		15.00%		11.00%
[1]	Includes a tax benefit in Taiwan of $3.0 million related to the recognition of prior period tax benefits and other tax positions no longer deemed necessary.
[2]	Includes a tax benefit in Taiwan of $1.8 million related to prior years.
[3]	Includes $8.8 million gain on sale of investment in a foreign entity.
[4]	Includes expenses of $0.9 million of financing expenses related to the exchange of $57.5 million 3.25% convertible senior notes.
[5]	Includes tax benefits in Taiwan of $4.8 million primarily related to the recognition of prior period tax benefits and other tax positions no longer deemed necessary.

CHANGES IN ACCUMULATED OTHER 72

CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME BY COMPONENT (Details) - USD ($) $ in Thousands	12 Months Ended
	Oct. 30, 2016	Nov. 01, 2015	Nov. 02, 2014
CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME BY COMPONENT [Abstract]
Other comprehensive income, tax	$ 0	$ 0	$ 0
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	646,555
Net other comprehensive income (loss)	5,874	(40,407)	(5,829)
Ending Balance	710,363	646,555
AOCI Attributable to Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	(10,573)	21,774
Net other comprehensive income (loss)	2,902	(32,347)	(5,028)
Ending Balance	(7,671)	(10,573)	21,774
Foreign Currency Translation Adjustments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	(9,634)	22,651
Ending Balance	(6,567)	(9,634)	22,651
Amortization of Cash Flow Hedge [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	(306)	(434)
Ending Balance	(177)	(306)	(434)
Other [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	(633)	(443)
Ending Balance	(927)	(633)	$ (443)
AOCI Including Portion Attributable to Noncontrolling Interest [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive income (loss) before reclassifications	5,745	(40,535)
Amounts reclassified from accumulated other comprehensive income	129	128
Net other comprehensive income (loss)	5,874	(40,407)
Foreign Currency Translation Adjustments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive income (loss) before reclassifications	6,334	(40,154)
Amounts reclassified from accumulated other comprehensive income	0	0
Net other comprehensive income (loss)	6,334	(40,154)
Amortization of Cash Flows Hedge [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive income (loss) before reclassifications	0	0
Amounts reclassified from accumulated other comprehensive income	129	128
Net other comprehensive income (loss)	129	128
Other [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive income (loss) before reclassifications	(589)	(381)
Amounts reclassified from accumulated other comprehensive income	0	0
Net other comprehensive income (loss)	(589)	(381)
AOCI Attributable to Noncontrolling Interest [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Less: other comprehensive (income) loss attributable to noncontrolling interests	(2,972)	8,060
Foreign Currency Translation Adjustments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Less: other comprehensive (income) loss attributable to noncontrolling interests	(3,267)	7,869
Amortization of Cash Flows Hedge [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Less: other comprehensive (income) loss attributable to noncontrolling interests	0	0
Other [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Less: other comprehensive (income) loss attributable to noncontrolling interests	$ 295	$ 191

OTHER RELATED PARTY TRANSACTI73

OTHER RELATED PARTY TRANSACTIONS (Details) - USD ($) $ in Thousands	12 Months Ended
	Oct. 30, 2016	Nov. 01, 2015	Nov. 02, 2014
Related Party Transaction [Line Items]
Amount due currently to related party at end of period	$ 2,743	$ 8,840
Information Technology Services Provider [Member]
Related Party Transaction [Line Items]
Expenses incurred for goods or services provided by related party during the period	200	1,000	$ 1,200
Amount due currently to related party at end of period		100
Information Technology Services Provider 1 [Member]
Related Party Transaction [Line Items]
Expenses incurred for goods or services provided by related party during the period	300
Amount due currently to related party at end of period	200
Photomask Blank Supplier [Member]
Related Party Transaction [Line Items]
Expenses incurred for goods or services provided by related party during the period	16,300	20,200	$ 20,100
Amount due currently to related party at end of period	$ 2,700	$ 4,500

FAIR VALUE MEASUREMENTS (Detail

FAIR VALUE MEASUREMENTS (Details) - USD ($) $ in Thousands	Oct. 30, 2016	Nov. 01, 2015
Fair Value Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	$ 0	$ 0
Total liabilities	0	0
Fair Value [Member] | 3.25% convertible senior notes due 2019 [Member]
Fair and carrying values of the Company's convertible senior notes [Abstract]
Convertible senior notes	68,230	64,550
Fair Value [Member] | 3.25% convertible senior notes due 2016 [Member]
Fair and carrying values of the Company's convertible senior notes [Abstract]
Convertible senior notes	0	60,375
Carrying Value [Member] | 3.25% convertible senior notes due 2019 [Member]
Fair and carrying values of the Company's convertible senior notes [Abstract]
Convertible senior notes	57,500	57,500
Carrying Value [Member] | 3.25% convertible senior notes due 2016 [Member]
Fair and carrying values of the Company's convertible senior notes [Abstract]
Convertible senior notes	$ 0	$ 57,500

GAINS ON SALE OF INVESTMENTS (D

GAINS ON SALE OF INVESTMENTS (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Jan. 31, 2016	Oct. 30, 2016	Nov. 01, 2015	Nov. 02, 2014
Schedule of Investments [Line Items]
Gain on sale of investments		$ 8,940	$ 0	$ 0
Investment in Foreign Entity [Member]
Schedule of Investments [Line Items]
Gain on sale of investments	$ 8,800	$ 8,800

EXPANSION INTO CHINA (Details)

EXPANSION INTO CHINA (Details) $ in Millions	12 Months Ended
	Oct. 30, 2016USD ($)
EXPANSION INTO CHINA [Abstract]
Investment amount planned to invest in China	$ 160
Investment term	5 years

QUARTERLY RESULTS OF OPERATIO77

QUARTERLY RESULTS OF OPERATIONS (UNAUDITED) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended												12 Months Ended
	Oct. 30, 2016		Jul. 31, 2016	May 01, 2016		Jan. 31, 2016		Nov. 01, 2015	Aug. 02, 2015	May 03, 2015	Feb. 01, 2015		Oct. 30, 2016		Nov. 01, 2015		Nov. 02, 2014
Selected Quarterly Financial Data (Unaudited) [Abstract]
Net sales	$ 107,368	[1]	$ 123,209	$ 122,923	[2]	$ 129,956	[3]	$ 141,693	$ 131,699	$ 127,309	$ 123,505	[4]	$ 483,456	[3],[5]	$ 524,206	[4]	$ 455,527
Gross profit	20,533	[1]	31,450	31,287	[2]	35,436	[3]	44,614	37,243	33,095	28,184	[4]	118,706	[3],[5]	143,136	[4]
Net income	6,569	[1]	11,453	14,153	[2]	23,501	[3]	22,151	15,410	12,156	7,142	[4]	55,676	[3],[5]	56,859	[4]	32,035
Net income attributable to Photronics, Inc. shareholders	$ 5,256	[1]	$ 8,088	$ 11,854	[2]	$ 21,002	[3]	$ 18,622	$ 12,106	$ 10,060	$ 3,837	[4]	$ 46,200	[3],[5]	$ 44,625	[4]	$ 25,996
Earnings per share [Abstract]
Basic (in dollars per share)	$ 0.08	[1]	$ 0.12	$ 0.18	[2]	$ 0.31	[3]	$ 0.28	$ 0.18	$ 0.15	$ 0.06	[4]	$ 0.68	[3],[5]	$ 0.67	[4]	$ 0.42
Diluted (in dollars per share)	$ 0.08	[1]	$ 0.12	$ 0.16	[2]	$ 0.28	[3]	$ 0.25	$ 0.17	$ 0.14	$ 0.06	[4]	$ 0.64	[3],[5]	$ 0.63	[4]	$ 0.41
Schedule of Investments [Line Items]
Gain on sale of investments													$ 8,940		$ 0		$ 0
Tax benefits related to prior year													(5,200)		(9,300)		(7,100)
Taiwan [Member]
Selected Quarterly Financial Data (Unaudited) [Abstract]
Net sales													193,216		205,141		$ 167,075
Schedule of Investments [Line Items]
Tax benefits related to prior year	$ 3,000			$ 1,800									4,800
3.25% Convertible Senior Notes [Member]
Debt Instrument [Line Items]
Financing expenses											$ 900				900
Convertible senior notes								$ 57,500			$ 57,500				$ 57,500
Interest rate percentage								3.25%			3.25%				3.25%
Investment in Foreign Entity [Member]
Schedule of Investments [Line Items]
Gain on sale of investments						$ 8,800							$ 8,800
[1]	Includes a tax benefit in Taiwan of $3.0 million related to the recognition of prior period tax benefits and other tax positions no longer deemed necessary.
[2]	Includes a tax benefit in Taiwan of $1.8 million related to prior years.
[3]	Includes $8.8 million gain on sale of investment in a foreign entity.
[4]	Includes expenses of $0.9 million of financing expenses related to the exchange of $57.5 million 3.25% convertible senior notes.
[5]	Includes tax benefits in Taiwan of $4.8 million primarily related to the recognition of prior period tax benefits and other tax positions no longer deemed necessary.

Schedule II-Valuation and Qua78

Schedule II-Valuation and Qualifying Accounts (Details) - USD ($) $ in Thousands		12 Months Ended
		Oct. 30, 2016		Nov. 01, 2015		Nov. 02, 2014
Allowance for Doubtful Accounts [Member]
Movement in Valuation Allowance and Qualifying Accounts [Roll Forward]
Balance at Beginning of Year		$ 3,301		$ 3,078		$ 3,541
Charged to Costs and Expenses		642		730		(740)
Deductions	[1]	(42)		(507)		277
Balance at End of Year		3,901		3,301		3,078
Deferred Tax Asset Valuation Allowance [Member]
Movement in Valuation Allowance and Qualifying Accounts [Roll Forward]
Balance at Beginning of Year		38,763		49,548		56,661
Charged to Costs and Expenses		(4,262)	[2]	(2,364)	[2]	0
Deductions	[3]	(5,186)		(8,421)		(7,113)
Balance at End of Year		$ 29,315		$ 38,763		$ 49,548
[1]	Uncollectible accounts written off, net, and impact of foreign currency translation.
[2]	Reversal of valuation allowance.
[3]	Increase in deferred tax liability and utilization of net operating losses.