Photronics (PLAB) 10-Q 5 Sep 24 2024 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Jul. 28, 2024	Aug. 29, 2024
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Period End Date	Jul. 28, 2024
Current Fiscal Year End Date	--10-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Document Transition Report	false
Entity File Number	001-39063
Entity Registrant Name	PHOTRONICS, INC.
Entity Central Index Key	0000810136
Entity Incorporation, State or Country Code	CT
Entity Tax Identification Number	06-0854886
Entity Address, Address Line One	15 Secor Road
Entity Address, City or Town	Brookfield
Entity Address, State or Province	CT
Entity Address, Postal Zip Code	06804
City Area Code	203
Local Phone Number	775-9000
Title of 12(b) Security	COMMON
Trading Symbol	PLAB
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		63,353,762

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jul. 28, 2024	Oct. 31, 2023
Current assets:
Cash and cash equivalents	$ 537,331	$ 499,292
Short-term investments	69,046	12,915
Accounts receivable, net of allowance of $1,196 in 2024 and $1,099 in 2023	199,926	194,927
Inventories	55,472	49,963
Other current assets	30,865	28,353
Total current assets	892,640	785,450
Property, plant and equipment, net	722,638	709,244
Deferred income taxes	20,242	21,297
Other assets	9,581	10,230
Total assets	1,645,101	1,526,221
Current liabilities:
Current portion of long-term debt	20,090	6,621
Accounts payable	89,013	84,024
Accrued liabilities	82,023	94,578
Total current liabilities	191,126	185,223
Long-term debt	28	17,998
Other liabilities	40,518	47,391
Total liabilities	231,672	250,612
Commitments and contingencies (Note 12)
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, 61,839 shares issued and outstanding as of July 28, 2024, and 61,310 shares issued and outstanding as of October 31, 2023	618	613
Additional paid-in capital	509,918	502,010
Retained earnings	657,938	561,119
Accumulated other comprehensive loss	(100,480)	(88,734)
Total Photronics, Inc. shareholders' equity	1,067,994	975,008
Noncontrolling interests	345,435	300,601
Total equity	1,413,429	1,275,609
Total liabilities and equity	$ 1,645,101	$ 1,526,221

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	Jul. 28, 2024	Oct. 31, 2023
Current assets:
Accounts receivable, allowance	$ 1,196	$ 1,099
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)	61,839	61,310
Common stock, shares outstanding (in shares)	61,839	61,310

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands		3 Months Ended		9 Months Ended
		Jul. 28, 2024	Jul. 30, 2023	Jul. 28, 2024	Jul. 30, 2023
Condensed Consolidated Statements of Income [Abstract]
Revenue	[1]	$ 210,984	$ 224,206	$ 644,318	$ 664,603
Cost of goods sold		135,846	137,405	410,674	413,323
Gross profit		75,138	86,801	233,644	251,280
Operating expenses:
Selling, general, and administrative		19,436	18,032	56,753	52,728
Research and development		3,555	3,505	11,291	10,287
Total operating expenses		22,991	21,537	68,044	63,015
Other operating income, net		1	0	90	0
Operating income		52,148	65,264	165,690	188,265
Other income (expense):
Foreign currency transactions impact, net		4,068	(4,543)	9,926	(10,769)
Interest income and other income, net		6,135	3,758	17,263	9,329
Interest expense		(58)	(126)	(258)	(324)
Income before income tax provision		62,293	64,353	192,621	186,501
Income tax provision		14,124	16,098	48,998	50,023
Net income		48,169	48,255	143,623	136,478
Net income attributable to noncontrolling interests		13,781	21,296	46,804	55,604
Net income attributable to Photronics, Inc. shareholders		$ 34,388	$ 26,959	$ 96,819	$ 80,874
Earnings per share:
Basic (in dollars per share)		$ 0.56	$ 0.44	$ 1.57	$ 1.32
Diluted (in dollars per share)		$ 0.55	$ 0.44	$ 1.55	$ 1.31
Weighted-average number of common shares outstanding:
Basic (in shares)		61,815	61,233	61,681	61,089
Diluted (in shares)		62,414	61,974	62,369	61,650
[1]This table disaggregates revenue by the location in which it was earned.

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jul. 28, 2024	Jul. 30, 2023	Jul. 28, 2024	Jul. 30, 2023
Condensed Consolidated Statements of Comprehensive Income [Abstract]
Net income	$ 48,169	$ 48,255	$ 143,623	$ 136,478
Other comprehensive (loss) income, net of tax of $0:
Foreign currency translation adjustments	(6,114)	(3,639)	(13,819)	47,068
Other	48	80	103	91
Net other comprehensive (loss) income	(6,066)	(3,559)	(13,716)	47,159
Comprehensive income	42,103	44,696	129,907	183,637
Less: comprehensive income attributable to noncontrolling interests	12,263	14,027	44,834	60,102
Comprehensive income attributable to Photronics, Inc. shareholders	$ 29,840	$ 30,669	$ 85,073	$ 123,535

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jul. 28, 2024	Jul. 30, 2023	Jul. 28, 2024	Jul. 30, 2023
Condensed Consolidated Statements of Comprehensive Income [Abstract]
Other comprehensive (loss) income, tax	$ 0	$ 0	$ 0	$ 0

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Equity - USD ($) shares in Thousands, $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive (Loss) Income [Member]	Non-controlling Interests [Member]	Total
Balance at Oct. 31, 2022	$ 608	$ 493,741	$ 435,634	$ (98,456)	$ 230,562	$ 1,062,089
Balance (in shares) at Oct. 31, 2022	60,791
Net income	$ 0	0	80,874	0	55,604	136,478
Other comprehensive income (loss)	0	0	0	42,661	4,498	47,159
Shares issued under equity plans	$ 5	271	0	0	0	276
Shares issued under equity plans (in shares)	493
Share-based compensation expense	$ 0	5,874	0	0	0	5,874
Balance at Jul. 30, 2023	$ 613	499,886	516,508	(55,795)	290,664	1,251,876
Balance (in shares) at Jul. 30, 2023	61,284
Balance at Apr. 30, 2023	$ 612	497,391	489,549	(59,505)	276,637	1,204,684
Balance (in shares) at Apr. 30, 2023	61,185
Net income	$ 0	0	26,959	0	21,296	48,255
Other comprehensive income (loss)	0	0	0	3,710	(7,269)	(3,559)
Shares issued under equity plans	$ 1	452	0	0	0	453
Shares issued under equity plans (in shares)	99
Share-based compensation expense	$ 0	2,043	0	0	0	2,043
Balance at Jul. 30, 2023	$ 613	499,886	516,508	(55,795)	290,664	1,251,876
Balance (in shares) at Jul. 30, 2023	61,284
Balance at Oct. 31, 2023	$ 613	502,010	561,119	(88,734)	300,601	1,275,609
Balance (in shares) at Oct. 31, 2023	61,310
Net income	$ 0	0	96,819	0	46,804	143,623
Other comprehensive income (loss)	0	0	0	(11,746)	(1,970)	(13,716)
Shares issued under equity plans	$ 5	(1,933)	0	0	0	(1,928)
Shares issued under equity plans (in shares)	529
Share-based compensation expense	$ 0	9,841	0	0	0	9,841
Balance at Jul. 28, 2024	$ 618	509,918	657,938	(100,480)	345,435	1,413,429
Balance (in shares) at Jul. 28, 2024	61,839
Balance at Apr. 28, 2024	$ 618	506,621	623,550	(95,932)	333,172	1,368,029
Balance (in shares) at Apr. 28, 2024	61,799
Net income	$ 0	0	34,388	0	13,781	48,169
Other comprehensive income (loss)	0	0	0	(4,548)	(1,518)	(6,066)
Shares issued under equity plans	$ 0	(45)	0	0	0	(45)
Shares issued under equity plans (in shares)	40
Share-based compensation expense	$ 0	3,342	0	0	0	3,342
Balance at Jul. 28, 2024	$ 618	$ 509,918	$ 657,938	$ (100,480)	$ 345,435	$ 1,413,429
Balance (in shares) at Jul. 28, 2024	61,839

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Jul. 28, 2024	Jul. 30, 2023
Cash flows from operating activities:
Net income	$ 143,623	$ 136,478
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	61,613	59,523
Share-based compensation	9,841	5,874
Changes in assets and liabilities:
Accounts receivable	(5,181)	(1,482)
Inventories	(5,788)	(2,693)
Other current assets	(2,778)	4,053
Accounts payable, accrued liabilities, and other	(8,256)	(6,197)
Net cash provided by operating activities	193,074	195,556
Cash flows from investing activities:
Purchases of property, plant and equipment	(87,733)	(78,813)
Purchases of short-term investments	(100,558)	(9,837)
Proceeds from maturities of short-term investments	44,696	22,500
Government incentives	1,541	2,033
Other	(4)	(116)
Net cash used in investing activities	(142,058)	(64,233)
Cash flows from financing activities:
Repayments of debt	(4,500)	(16,351)
Proceeds from share-based arrangements	1,074	1,241
Net settlements of restricted stock awards	(3,002)	(1,292)
Net cash used in financing activities	(6,428)	(16,402)
Effects of exchange rate changes on cash, cash equivalents, and restricted cash	(6,454)	13,813
Net increase in cash, cash equivalents, and restricted cash	38,134	128,734
Cash, cash equivalents, and restricted cash at beginning of period	501,867	322,409
Cash, cash equivalents, and restricted cash at end of period	540,001	451,143
Less: Ending restricted cash	2,670	2,664
Cash and cash equivalents at end of period	537,331	448,479
Supplemental disclosure of non-cash information:
Accruals for property, plant and equipment purchased during the period	$ 9,163	$ 22,578

BASIS OF FINANCIAL STATEMENT PR

BASIS OF FINANCIAL STATEMENT PRESENTATION	9 Months Ended
	Jul. 28, 2024
BASIS OF FINANCIAL STATEMENT PRESENTATION [Abstract]
BASIS OF FINANCIAL STATEMENT PRESENTATION	NOTE 1 - BASIS OF FINANCIAL STATEMENT PRESENTATION Photronics, Inc. (“Photronics”, “the Company”, “we”, “our”, or “us”) is one of the world’s leading manufacturers of photomasks, which are high-precision photographic quartz or glass plates containing microscopic images of electronic circuits. Photomasks are a key element in the manufacture of ICs and FPDs and are used as masters to transfer circuit patterns onto semiconductor wafers and FPD substrates during the fabrication of ICs, a variety of FPDs and, to a lesser extent, other types of electrical and optical components. We operate eleven manufacturing facilities, which are located in Taiwan (3), Korea (1), China (2), the United States (3), and Europe (2). The accompanying unaudited condensed consolidated financial statements (“the financial statements”) have been prepared in accordance with U.S. GAAP for interim financial information, and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for annual financial statements. In the opinion of management, adjustments, all of which are of a normal recurring nature, considered necessary for a fair presentation have been included. The financial statements include the accounts of Photronics, its wholly owned subsidiaries, and the majority-owned subsidiaries, which it controls. All significant intercompany balances and transactions have been eliminated in consolidation. These financial statements should be read in conjunction with the consolidated financial statements and accompanying notes included in our Form 10-K for the fiscal year ended October 31, 2023, where we discuss and provide additional information about our accounting policies and the methods and assumptions used in our estimates. The preparation of financial statements in conformity with U.S. GAAP requires us to make estimates and assumptions that affect amounts reported in them. Our estimates are based on historical experience and on various assumptions that we believe to be reasonable under the facts and circumstances at the time they are made. Subsequent actual results may differ from such estimates. We review these estimates periodically and reflect any effects of revisions in the period in which they are determined. Our business is typically impacted during the first quarter of our fiscal year by the North American, European, and Asian holiday periods, as some customers reduce their development and buying activities during this period. Operating results for the interim periods are not necessarily indicative of the results that may be expected for the fiscal year ending October 31, 2024.

ACCOUNT RECEIVABLES

ACCOUNT RECEIVABLES	9 Months Ended
	Jul. 28, 2024
ACCOUNT RECEIVABLES [Abstract]
ACCOUNT RECEIVABLES	NOTE 2 - ACCOUNT RECEIVABLES The components of Accounts Receivable July 28, October 31, 2024 2023 Accounts Receivable $ 173,731 $ 171,433 Unbilled Receivable 27,391 24,593 Allowance for Credit Losses (1,196 ) (1,099 ) $ 199,926 $ 194,927

INVESTMENTS

INVESTMENTS	9 Months Ended
	Jul. 28, 2024
INVESTMENTS [Abstract]
INVESTMENTS	NOTE 3 - INVESTMENTS The Company invests in various bank time deposits and U.S. Government Securities. Our classification of investments is as follows: - Maturing within three months or less from the date of purchase Cash and cash equivalents - Maturing, as of the date of purchase, more than three months, but with remaining maturities of less than one year, from the balance sheet date Short-term investments - Maturing one year or more from the balance sheet date Long-term marketable investments As of July 28, 2024, all of our investments from their dates of purchase, had remaining maturities of more than three months, but less than one year, and have been classified as short-term investments. 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 - These are investments where values are based on unadjusted quoted prices for identical assets in an active market the Company has the ability to access. Level 2 - These are investments where values are based on quoted market prices that are not active or model derived valuations in which all significant inputs are observable in active markets. Level 3 - These are investments where values are derived from techniques in which one or more significant inputs are unobservable. The following are the major categories of assets measured at fair value on a recurring basis using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2) and significant unobservable inputs (Level 3): July 28, 2024 October 31, 2023 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total U.S. Government Securities $ 4,155 $ - $ - $ 4,155 $ 12,915 $ - $ - $ 12,915 Time deposits $ - $ 64,891 $ - $ 64,891 $ - $ - $ - $ - Total $ 4,155 $ 64,891 $ - $ 69,046 $ 12,915 $ - $ - $ 12,915 Based upon the Company’s intent and ability to hold its time deposits to maturity (which maturities range up to twelve months at purchase), such securities have been classified as held-to-maturity and are carried at amortized cost, which approximates market value. The Company’s U.S. Government Securities are classified as available-for-sale. Interest income and other income, net The table below provides information on our available-for-sale debt securities and time deposits classified as short-term investments. July 28, 2024 October 31, 2023 Amortized Cost Unrealized Gains Unrealized Losses Carrying Value Amortized Cost Unrealized Gains Unrealized Losses Carrying Value U.S. Government Securities $ 4,135 $ 20 $ - $ 4,155 $ 12,913 $ 4 $ (2 ) $ 12,915 Time deposits 64,891 - - 64,891 - - - - Total $ 69,026 $ 20 $ - $ 69,046 $ 12,913 $ 4 $ (2 ) $ 12,915 The Company’s investments in marketable securities consist primarily of investments in time deposits and U.S. Government Securities. Market values were determined for each individual security in the investment portfolio. When evaluating the investments for other-than-temporary impairment, the Company reviews factors such as length of time and extent to which fair value has been below cost basis, the financial condition of the issuer, and the Company’s ability and intent to hold the investment for a period of time, which may be sufficient for anticipated recovery in market values.

INVENTORIES

INVENTORIES	9 Months Ended
	Jul. 28, 2024
INVENTORIES [Abstract]
INVENTORIES	NOTE 4 - INVENTORIES Inventories are stated at the lower of cost, determined under the first-in, first-out (“FIFO”) Inventories July 28, 2024 October 31, 2023 Raw materials $ 54,658 $ 48,948 Work in process 814 1,010 Finished goods - 5 $ 55,472 $ 49,963

PROPERTY, PLANT, AND EQUIPMENT,

PROPERTY, PLANT, AND EQUIPMENT, NET	9 Months Ended
	Jul. 28, 2024
PROPERTY, PLANT, AND EQUIPMENT, NET [Abstract]
PROPERTY, PLANT, AND EQUIPMENT, NET	NOTE 5 - PROPERTY, PLANT, AND EQUIPMENT, NET Presented below are the components of Property, plant, and equipment, net July 28, 2024 October 31, 2023 Land $ 11,346 $ 11,378 Buildings and improvements 187,129 185,850 Machinery and equipment 1,971,632 1,922,041 Leasehold improvements 18,781 18,894 Furniture, fixtures, and office equipment 16,926 15,856 Construction in progress 61,360 55,434 2,267,174 2,209,453 Accumulated depreciation and amortization (1,544,536 ) (1,500,209 ) $ 722,638 $ 709,244 Information on ROU assets resulting from finance leases, at the balance sheet dates, is presented below. July 28, 2024 October 31, 2023 Machinery and equipment $ 42,815 $ 42,820 Accumulated amortization (9,777 ) (7,655 ) $ 33,038 $ 35,165 The following table presents depreciation expense (including the amortization of ROU assets) related to property, plant, and equipment incurred during the reporting periods Three Months Ended Nine Months Ended July 28, 2024 July 30, 2023 July 28, 2024 July 30, 2023 Depreciation Expense $ 20,036 $ 20,346 $ 61,332 $ 59,255

PDMCX JOINT VENTURE

PDMCX JOINT VENTURE	9 Months Ended
	Jul. 28, 2024
PDMCX JOINT VENTURE [Abstract]
PDMCX JOINT VENTURE	NOTE 6 - PDMCX JOINT VENTURE In January 2018, Photronics, Inc., through its wholly owned Singapore subsidiary (hereinafter, within this Note “we”, “Photronics”, “us”, or “our”), and DNP, through its wholly owned subsidiary “DNP Asia Pacific PTE, Ltd.”, entered into a joint venture under which DNP obtained a 49.99% interest in our IC business in Xiamen, China. The joint venture, which we refer to as “PDMCX”, was established to develop and manufacture photomasks for semiconductors. We entered into this joint venture to enable us to compete more effectively for the merchant photomask business in China, and to benefit from the additional resources and investment that DNP provides to help further enable us to offer advanced-process technology to our customers. In 2020, in combination with local financing obtained by PDMCX, Photronics and DNP fulfilled their investment obligations under the PDMCX operating agreement ( “ and there was remaining debt at October 31, 2023 Under the Agreement, should either Photronics’ or DNP’s ownership interest fall below 20.0% for a period of more than six three The following table presents net income we recorded from the operations of PDMCX during the reporting periods. Three Months Ended Nine Months Ended July 28, 2024 July 30, 2023 July 28, July 30, 2023 Net income from PDMCX $ 4,369 $ 7,130 $ 16,296 $ 19,700 As required by the guidance in Topic 810 - “Consolidation” of the our involvement in PDMCX for the purpose of determining whether we should consolidate its results in our financial statements. The initial step of our evaluation was to determine whether PDMCX was a variable interest entity (“VIE”). Due to its lack of sufficient equity at risk to finance its activities without additional subordinated financial support, we determined that it was a VIE. Having made this determination, we then assessed whether we were the primary beneficiary of the VIE and concluded that we were the primary beneficiary during the current and prior year reporting periods; thus, as required, the PDMCX financial results have been consolidated with Photronics. Our conclusion was based on the facts that we held a controlling financial interest in PDMCX (which resulted from our having the power to direct the activities that most significantly impacted its economic performance) and had the obligation to absorb losses and the right to receive benefits that could potentially be significant to PDMCX. Our conclusions that we had the power to direct the activities that most significantly affected the economic performance of PDMCX during the current and prior year reporting periods were based on our right to appoint the majority of its board of directors, which has, among others, the powers to manage the business (through its rights to appoint and evaluate PDMCX’s management), incur indebtedness, enter into agreements and commitments, and acquire and dispose of PDMCX’s assets. In addition, as a result of the variable interest we held during the current and prior year periods, we had the obligation to absorb losses, and the right to receive benefits, that could potentially be significant to PDMCX. The following table presents the carrying amounts of PDMCX assets and liabilities included in our condensed consolidated balance sheets. General creditors of PDMCX do not have recourse to the assets of Photronics (other than the net assets of PDMCX); therefore, our maximum exposure to loss from PDMCX is our interest in the carrying amount of the net assets of the joint venture. July 28, 2024 October 31, 2023 Classification Carrying Amount Photronics Interest Carrying Amount Photronics Interest Current assets $ 164,333 $ 82,183 $ 135,960 $ 67,994 Noncurrent assets 144,873 72,451 136,334 68,181 Total assets 309,206 154,634 272,294 136,175 Current liabilities 38,674 19,341 36,305 18,156 Noncurrent liabilities 1,895 948 1,873 937 Total liabilities 40,569 20,289 38,178 19,093 Net assets $ 268,637 $ 134,345 $ 234,116 $ 117,082

DEBT

DEBT	9 Months Ended
	Jul. 28, 2024
DEBT [Abstract]
DEBT	NOTE 7 - DEBT As of July 28, 2024, the Current portion of long-term debt and the long-term debt balances were comprised of finance leases as described below: As of July 28, 2024 Finance Leases Principal due: Next 12 months $ 20,090 Months 13 – 24 $ 12 Months 25 – 36 12 Months 37 – 48 4 Months 49 – 60 - Long-term debt 28 Total debt $ 20,118 Interest rate at balance sheet date N/A Basis spread on interest rates N/A Interest rate reset N/A Maturity date N/A Periodic payment amount Varies as Lease matures Periodic payment frequency Monthly Loan collateral (carrying amount) $ 33,038 (1) (1) Represents the carrying amount at the balance sheet date of the related ROU assets, in which the lessors have secured interests. The table below provides information on our long-term debt as of October 31, 2023. As of October 31, 2023 Finance Leases Principal due: Next 12 months $ 6,621 Months 13 – 24 $ 17,972 Months 25 – 36 12 Months 37 – 48 13 Months 49 – 60 1 Long-term debt 17,998 Total debt $ 24,619 Interest rate at balance sheet date N/A Basis spread on interest rates N/A Interest rate reset N/A Maturity date N/A Periodic payment amount Varies as Lease matures Periodic payment frequency Monthly Loan collateral (carrying amount) $ 35,165 (1) (1) Represents the carrying amount at the balance sheet date of the related ROU assets, in which the lessors have secured interests. Finance Leases In February 2021, we entered into a five-year $7.2 million finance lease for a high-end inspection tool. Monthly payments on the lease, which commenced in February 2021, are $0.1 million per month. Upon the payment of the fiftieth monthly payment and prior to payment of the fifty-first monthly payment, we may exercise an early buyout option to purchase the tool for $2.4 million. At our option, after the original term or any renewal periods, we may return the tool, elect to extend the lease, or purchase the tool at its fair market value. Since we are reasonably certain that we will exercise the early buyout option, our lease liability reflects such exercise, and we have classified the lease as a finance lease. The interest rate implicit in the lease is 1.08%. Management has determined that the Company will exercise its early buyout option during the first half of 2025 in order to take advantage of the favorable early buyout price. In December 2020, we entered into a five-year $35.5 million finance lease for a high-end lithography tool. Monthly payments on the lease, which commenced in January 2021, increased from $0.04 million during the first three months to $0.6 million for the following nine months, followed by forty-eight monthly payments of $0.5 million. The lease agreement contains covenants around minimum interest coverage ratio, total leverage ratio, and minimum unrestricted cash balance, and limits the amount of cash dividends, distributions, and redemptions we can pay on our common stock to an aggregate annual amount of $50 million and includes a cross-default provision for any agreement or instrument with an outstanding, committed balance greater than $5.0 million in which we are the indebted party. As of the due date of the forty-eighth monthly payment, we may exercise an early buyout option to purchase the tool for $14.1 million. At our option, after the original term, we may return the tool, elect to extend the lease term for a period and a lease payment to be agreed with lessor at the time, or purchase the tool for its then-fair market value, as determined by the lessor. Xiamen Working Capital Loans In November 2018, PDMCX obtained approval for revolving, unsecured credit in an aggregate principal amount equivalent to $25.0 million, pursuant to which PDMCX may enter into separate loan agreements with varying terms to maturity. In December 2022, we repaid our entire outstanding balance of RMB 25.6 million ($3.6 million). The interest rates are variable, based on the RMB Loan Prime Rate of the National Interbank Funding Center. Interest incurred on the loans was eligible for reimbursement through incentives provided by the Xiamen Torch Hi-Tech Industrial Development Zone, which provided for such reimbursements up to a prescribed limit and duration. In August 2024, the Company was issued an extension to the revolving, unsecured credit agreement for RMB 200,000,000 (approximately $27.6 million) with an expiration date of July 31, 2025. As of the date of this report, there were no draw downs on this extension.

REVENUE

REVENUE	9 Months Ended
	Jul. 28, 2024
REVENUE [Abstract]
REVENUE	NOTE 8 - REVENUE We recognize revenue when, or as, control of a good or service transfers to a customer, in an amount that reflects the consideration to which we expect to be entitled in exchange for transferring those goods or services. We account for an arrangement as a revenue contract when each party has approved and is committed to perform under the contract, the rights of the contracting parties regarding the goods or services to be transferred and the payment terms are identifiable, the arrangement has commercial substance, and collection of consideration is probable. Substantially all of our revenue comes from the sales of photomasks. We typically contract with our customers to sell sets of photomasks, which are comprised of multiple layers, the predominance of which we invoice as they ship to customers. As the photomasks are manufactured to customer specifications, they have no alternative use to us and, as our contracts generally provide us with the right to payment for work completed to date, we recognize revenue as we perform, or “over time”, on most of our contracts. We measure our performance to date using an input method, which is based on our estimated costs to complete the various manufacturing phases of a photomask. At the end of a reporting period, there are a number of uncompleted revenue contracts on which we have performed; for any such contracts under which we are entitled to be compensated for our costs incurred plus a reasonable profit, we recognize revenue and a corresponding contract asset for such performance. We account for shipping and handling activities that we perform after a customer obtains control of a good as being activities to fulfill our promise to transfer the good to the customer, rather than as promised services, or performance obligations, under the contract. We report our revenue net of any sales or similar taxes we collect on behalf of government entities. As stated above, photomasks are manufactured to customer specifications in accordance with their proprietary designs; thus, they are individually unique. Due to their uniqueness and other factors, their transaction prices are individually established through negotiations with customers; consequently, our photomasks do not have standard or “list” prices. The transaction prices of the vast majority of our revenue contracts include only fixed amounts of consideration. In certain instances, such as when we offer a customer an early payment discount, an estimate of variable consideration would be included in the transaction price, but only to the extent that a significant reversal of revenue would not occur when the uncertainty related to the variability was resolved. Contract Assets, Contract Liabilities, and Accounts Receivable We recognize a contract asset when our performance under a contract precedes our receipt of consideration from a customer, or before payment is due, and our receipt of consideration is conditional upon factors other than the passage of time. Contract assets reflect our transfer of control of photomasks that are in process or completed but not yet shipped to customers. A receivable is recognized when we have an unconditional right to payment for our performance, which generally occurs when we ship the photomasks. Our contract assets primarily consist of a significant amount of our in-process production orders and fully manufactured photomasks which have not yet shipped, for which we have an enforceable right to collect consideration (including a reasonable profit) in the event the in-process orders are cancelled by customers. On an individual contract basis, we net contract assets with contract liabilities (deferred revenue) for financial reporting purposes. We did not identify impairment indicators for any outstanding contract assets during the three or nine-month periods ended July 28, 2024 or July 30, 2023. The following table provides information about our contract balances at the balance sheet dates. Classification July 28, 2024 October 31, 2023 Contract Assets Other current assets $ 12,292 $ 10,984 Contract Liabilities Accrued liabilities $ 13,660 $ 9,965 Other liabilities 9,973 12,454 $ 23,633 $ 22,419 The Company did not recognize any revenue from performance obligations satisfied in the previous periods. Three Months Ended Nine Months Ended July 28, 2024 July 30, 2023 July 28, 2024 July 30, 2023 Revenue recognized from beginning liability $ 7,057 $ 10,755 $ 11,072 $ 10,524 We generally record our accounts receivable at their billed amounts. All outstanding past due customer invoices are reviewed for collectability during, and at the end of, every reporting period. To the extent we believe a loss on the collection of a customer invoice is probable, we record the loss and credit an allowance for credit losses. In the event that an amount is determined to be uncollectible, we charge the allowance for credit losses and derecognize the related receivable. We July 28, 2024, and July 30, 2023 Our invoice terms generally range from net- thirty In instances when we are paid in advance of our performance, we record a contract liability and, as allowed under the practical expedient in Topic 606, recognize interest expense only if the period between when we receive payment from the customer and the date when we expect to be entitled to the payment is greater than one year. Historically, advance payments we have received from customers have generally not preceded the completion of our performance obligations by more than one year. Disaggregation of Revenue The following tables present our revenue for the three and nine-month periods ended July , disaggregated by product type, geographic origin, and timing of recognition. Three Months Ended Nine Months Ended Revenue by Product Type July 28, 2024 July 30, 2023 July 28, 2024 July 30, 2023 IC High-end $ 49,499 $ 45,324 $ 168,417 $ 137,247 Mainstream 106,385 117,816 305,984 349,536 Total IC $ 155,884 $ 163,140 $ 474,401 $ 486,783 FPD High-end $ 48,394 $ 49,981 $ 146,987 $ 147,560 Mainstream 6,706 11,085 22,930 30,260 Total FPD $ 55,100 $ 61,066 $ 169,917 $ 177,820 $ 210,984 $ 224,206 $ 644,318 $ 664,603 Three Months Ended Nine Months Ended Revenue by Geographic Origin * July 28, 2024 July 30, 2023 July 28, 2024 July 30, 2023 Taiwan $ 68,182 $ 81,594 $ 218,557 $ 237,610 China 55,301 62,042 172,131 186,191 Korea 38,412 40,833 118,033 120,037 United States 38,833 29,696 104,880 92,073 Europe 9,759 9,535 29,390 27,257 Other 497 506 1,327 1,435 $ 210,984 $ 224,206 $ 644,318 $ 664,603 * This table disaggregates revenue by the location in which it was earned. Three Months Ended Nine Months Ended Revenue by Timing of Recognition July 28, 2024 July 30, 2023 July 28, 2024 July 30, 2023 Over time $ 202,177 $ 214,647 $ 616,893 $ 627,188 At a point in time 8,807 9,559 27,425 37,415 210,984 224,206 644,318 664,603 Contract Costs We pay commissions to third-party sales agents for certain sales they procure on our behalf. However, the bases of the commissions are the transaction prices of the sales, which are completed in less than one year; thus, no relationship is established with a customer that will result in future business. Therefore, we do not recognize any portion of these sales commissions as costs of obtaining a contract, nor do we currently foresee other circumstances under which we would recognize contract obtainment costs as assets. Remaining Performance Obligations As we are typically required to fulfill customer orders within a short period of time, our backlog of orders has historically been two three one two two Product Warranties Our photomasks are sold under warranties that generally range from one

SHARE-BASED COMPENSATION

SHARE-BASED COMPENSATION	9 Months Ended
	Jul. 28, 2024
SHARE-BASED COMPENSATION [Abstract]
SHARE-BASED COMPENSATION	NOTE 9 - SHARE-BASED COMPENSATION In March 2016, shareholders approved our current 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 us (in the open market or in private transactions), or a combination thereof. The maximum number of shares of common stock approved that may be issued under the Plan was four million shares. On March 16, 2023, at its annual meeting of shareholders, the shareholders of Photronics, Inc., approved amendments to the Plan to increase the number of shares available for issuance by an additional one million shares, thereby increasing the shares available for issuance under the Plan from four million to five million. Awards may be granted to officers, employees, directors, consultants, advisors, and independent contractors of Photronics 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 prohibits further awards from being issued under prior plans . The table below presents information on our share-based compensation expenses for the three and nine-month periods ended July 28, 2024 and July 30, 2023. Three Months Ended Nine Months Ended July 28, 2024 July 30, 2023 July 28, 2024 July 30, 2023 Expense reported in: Cost of goods sold $ 683 $ 322 $ 1,946 $ 892 Selling, general, and administrative 2,388 1,499 7,126 4,407 Research and development 271 222 769 575 Total expense incurred $ 3,342 $ 2,043 $ 9,841 $ 5,874 Expense by award type: Restricted stock awards $ 3,342 $ 2,043 $ 9,841 $ 5,782 Stock options - - - 1 Employee stock purchase plan - - - 91 Total expense incurred $ 3,342 $ 2,043 $ 9,841 $ 5,874 Income tax benefits of share-based compensation $ 323 $ 152 $ 745 $ 513 Restricted Stock Awards We periodically grant restricted stock awards, the restrictions on which typically lapse over a service period of one to four years . The fair value of the awards is determined on the date of grant, based on the closing price of our common stock. The table below presents information on our restricted stock awards for the three and nine-month periods ended July 28, 2024 and July 30, 2023. Three Months Ended Nine Months Ended July 28, 2024 July 30, 2023 July 28, 2024 July 30, 2023 Number of shares granted in period - - 825,050 786,500 Weighted-average grant-date fair value of awards (in dollars per share) $ - $ - $ 29.77 $ 16.77 Compensation cost not yet recognized $ 25,750 $ 14,511 $ 25,750 $ 14,511 Weighted-average amortization period for cost not yet recognized (in years) 2.9 2.9 2.9 2.9 Shares outstanding at balance sheet date 1,513,827 1,267,247 1,513,827 1,267,247 Stock Options Option awards generally vest in one The table below presents information on our stock options for three and nine-month periods ended July 28, 2024 and July 30, 2023 . Three Months Ended Nine Months Ended July 28, 2024 July 30, 2023 July 28, 2024 July 30, 2023 Number of options granted in period - - - - Cash received from option exercised $ 20 $ 512 $ 1,074 $ 1,094 Compensation cost not yet recognized $ - $ - $ - $ - Weighted-average amortization period for cost not yet recognized (in years) - - - - Information respecting outstanding and exercisable option awards as of July 28, 2024, is presented below. Options Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Life (in years) Aggregate Intrinsic Value Outstanding and exercisable at July 28, 2024 358,125 $ 10.33 2.08 $ 5,476

INCOME TAXES

INCOME TAXES	9 Months Ended
	Jul. 28, 2024
INCOME TAXES [Abstract]
INCOME TAXES	NOTE 10 - INCOME TAXES We calculate our provision for income taxes at the end of each interim reporting period on the basis of an estimated annual effective tax rate adjusted for tax items that are discrete to each period. The table below sets forth the primary reasons that our effective income tax rates differed from the U.S. statutory tax rates in effect during the three and nine-month periods ended July 28, 2024 and July 30, 2023. Reporting Period U.S. Statutory Tax Rates Photronics Effective Tax Rates Primary Reasons for Differences Three months ended July 28, 2024 21.0% 22.7% Non-recognition of the tax benefit of losses that, in certain jurisdictions, have been offset by valuation allowances, non-U.S. pre-tax income being taxed at higher statutory rates in the non-U.S. jurisdictions, and the establishment of uncertain tax positions in non-U.S. jurisdictions. Three months ended July 30, 2023 21.0% 25.0% Non-recognition of the tax benefit of losses that, in certain jurisdictions, have been offset by valuation allowances, non-U.S. pre-tax income being taxed at higher statutory rates in the non-U.S. jurisdictions, and the establishment of uncertain tax positions in non-U.S. jurisdictions. Nine Months ended July 28, 2024 21.0% 25.4% Non-recognition of the tax benefit of losses that, in certain jurisdictions, have been offset by valuation allowances, non-U.S. pre-tax income being taxed at higher statutory rates in the non-U.S. jurisdictions, and the establishment of uncertain tax positions in non-U.S. jurisdictions. Nine Months ended July 30, 2023 21.0% 26.8% Non-recognition of the tax benefit of losses that, in certain jurisdictions, have been offset by valuation allowances, non-U.S. pre-tax income being taxed at higher statutory rates in the non-U.S. jurisdictions, and the establishment of uncertain tax positions in non-U.S. jurisdictions. Uncertain Tax Positions Although the timing of reversal of uncertain tax positions may be uncertain, as they can be dependent upon the settlement of tax audits, we believe that the amount of uncertain tax positions (including interest and penalties, and net of tax benefits) that may be resolved over the next twelve months is immaterial. Resolution of these uncertain tax positions may result from either or both the lapses of statutes of limitations and tax settlements. We are no longer subject to tax authority examinations in the U.S., major foreign, or state tax jurisdictions for years prior to fiscal year 2018 The table below presents information on our unrecognized tax benefits as of the balance sheet dates. July 28, 2024 October 31, 2023 Unrecognized tax benefits related to uncertain tax positions $ 11,773 $ 8,908 Unrecognized tax benefits that, if recognized, would impact the effective tax rate $ 11,773 $ 8,908 Accrued interest and penalties related to uncertain tax positions $ 922 $ 576

EARNINGS PER SHARE

EARNINGS PER SHARE	9 Months Ended
	Jul. 28, 2024
EARNINGS PER SHARE [Abstract]
EARNINGS PER SHARE	NOTE 11 - EARNINGS PER SHARE The following sets forth the computation of basic and diluted earnings per share: Three Months Ended Nine Months Ended July 28, 2024 July 30, 2023 July 28, 2024 July 30, 2023 Net income attributable to Photronics, Inc. shareholders $ 34,388 $ 26,959 $ 96,819 $ 80,874 Effect of dilutive securities - - - - Earnings used for diluted earnings per share $ 34,388 $ 26,959 $ 96,819 $ 80,874 Weighted-average common shares computations: Weighted-average common shares used for basic earnings per share 61,815 61,233 61,681 61,089 Effect of dilutive securities: Share-based payment awards 599 741 688 561 Potentially dilutive common shares 599 741 688 561 Weighted-average common shares used for diluted earnings per share 62,414 61,974 62,369 61,650 Basic earnings per share $ 0.56 $ 0.44 $ 1.57 $ 1.32 Diluted earnings per share $ 0.55 $ 0.44 $ 1.55 $ 1.31 The table below illustrates 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. Three Months Ended Nine Months Ended July 28, 2024 July 30, 2023 July 28, 2024 July 30, 2023 Share-based payment awards 551 - 264 178 Total potentially dilutive shares excluded 551 - 264 178

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Jul. 28, 2024
COMMITMENTS AND CONTINGENCIES [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 12 - COMMITMENTS AND CONTINGENCIES As of July 28, 2024 In May 2022, we were informed of a customs audit in one of our China operations. We estimated a contingency ranging from $2.2 million to $3.7 million, which included unpaid additional customs duties and related interest and penalties for the previous three years (the period under audit). In the three-month period ended May 1, 2022, we recorded a contingent loss of $2.2 million, as we believed this was the most likely outcome. The $2.2 million amount was recorded with a charge to Cost of goods sold in the condensed consolidated statements of income and Accrued liabilities in the condensed consolidated balance sheets. In November 2022, upon settlement of the audit, we reversed $1.0 million of the accrual. We are subject to various other claims that arise in the ordinary course of business. We believe that our potential liability under such claims, individually or in the aggregate, will not have a material effect on our consolidated financial statements.

CHANGES IN ACCUMULATED OTHER CO

CHANGES IN ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME BY COMPONENT	9 Months Ended
	Jul. 28, 2024
CHANGES IN ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME BY COMPONENT [Abstract]
CHANGES IN ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME BY COMPONENT	NOTE 13 - CHANGES IN ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME BY COMPONENT The following tables set forth the changes in our accumulated other comprehensive (loss) income by component (net of tax of $0) for the three and nine-month periods ended July 28, 2024 Three Months Ended July 28, 2024 Foreign Currency Translation Adjustments Other Total Balance at April 28, 2024 $ (95,271 ) $ (661 ) $ (95,932 ) Other comprehensive (loss) income (6,114 ) 48 (6,066 ) Other comprehensive (loss) income attributable to noncontrolling interests 1,534 (16 ) 1,518 Balance at July 28 2024 $ (99,851 ) $ (629 ) $ (100,480 ) Three Months Ended July 30, 2023 Foreign Currency Translation Adjustments Other Total Balance at April 30, 2023 $ (58,790 ) $ (715 ) $ (59,505 ) Other comprehensive (loss) income (3,639 ) 80 (3,559 ) Other comprehensive (loss) income attributable to noncontrolling interests 7,293 (24 ) 7,269 Balance at July 30 2023 $ (55,136 ) $ (659 ) $ (55,795 ) Nine Months Ended July 28, 2024 Foreign Currency Translation Adjustments Other Total Balance at October 31, 2023 $ (88,044 ) $ (690 ) $ (88,734 ) Other comprehensive (loss) income (13,819 ) 103 (13,716 ) Other comprehensive (loss) income attributable to noncontrolling interests 2,012 (42 ) 1,970 Balance at July 28 2024 $ (99,851 ) $ (629 ) $ (100,480 ) Nine Months Ended July 30, 2023 Foreign Currency Translation Adjustments Other Total Balance at October 31, 2022 $ (97,790 ) $ (666 ) $ (98,456 ) Other comprehensive income 47,068 91 47,159 Other comprehensive (loss) income attributable to noncontrolling interests (4,414 ) (84 ) (4,498 ) Balance at July 30 2023 $ (55,136 ) $ (659 ) $ (55,795 )

SHARE REPURCHASE PROGRAMS

SHARE REPURCHASE PROGRAMS	9 Months Ended
	Jul. 28, 2024
SHARE REPURCHASE PROGRAMS [Abstract]
SHARE REPURCHASE PROGRAMS	NOTE 14 - SHARE REPURCHASE PROGRAMS In September 2020, the Company’s board of directors authorized the repurchase of up to $100 million of its common stock, pursuant to one or more repurchase plans under Rule 10b5-1 of the Securities Act. The most recent 10b5-1 plan expired on September 15, 2022, and has not been renewed. The repurchase authorization by the board of directors has no expiration date, does not obligate us to acquire any common stock, and is subject to market conditions. There have been no shares repurchased for the three and nine-month periods ended July 28, 2024 and July 30, 2023. As of July 28, 2024, $31.7 million was available under this authorization for the purchase of additional shares. All shares repurchased under the program have been retired. On August 28, 2024, the board of directors authorized an increase to the Company’s existing share repurchase program from the remaining $31.7 million up to $100 million. As of the date of this report, there were no additional shares repurchased under this program.

RECENT ACCOUNTING PRONOUNCEMENT

RECENT ACCOUNTING PRONOUNCEMENTS	9 Months Ended
	Jul. 28, 2024
RECENT ACCOUNTING PRONOUNCEMENTS [Abstract]
RECENT ACCOUNTING PRONOUNCEMENTS	NOTE 15 - RECENT ACCOUNTING PRONOUNCEMENTS Accounting Standards Updates to be Adopted In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures”, to enhance the transparency and decision usefulness of income tax disclosures. The amendments in this Update related to the rate reconciliation and income taxes paid disclosures to improve the transparency of income tax disclosures by requiring (1) consistent categories and greater disaggregation of information in the rate reconciliation and (2) income taxes paid disaggregated by jurisdiction. The amendments allow investors to better assess, in their capital allocation decisions, how an entity’s worldwide operations and related tax risks and tax planning and operational opportunities affect its income tax rate and prospects for future cash flows. The guidance in this Update will be effective for Photronics in its fiscal year 2026 Form 10-K, with early application of the amendments allowed. We are currently evaluating the effect the adoption of this ASU may have on our disclosures. In November 2023, the FASB issued ASU 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures”, which improves reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. The guidance in this Update is effective for Photronics in its fiscal year 2025 Form 10-K, with early adoption permitted. We are currently evaluating the effect the adoption of this ASU may have on our disclosures.

INSIDER TRADING ARRANGEMENTS

INSIDER TRADING ARRANGEMENTS	3 Months Ended
	Jul. 28, 2024
Insider Trading Arrangements [Line Items]
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

BASIS OF FINANCIAL STATEMENT _2

BASIS OF FINANCIAL STATEMENT PRESENTATION (Policies)	9 Months Ended
	Jul. 28, 2024
BASIS OF FINANCIAL STATEMENT PRESENTATION [Abstract]
Consolidation	The accompanying unaudited condensed consolidated financial statements (“the financial statements”) have been prepared in accordance with U.S. GAAP for interim financial information, and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for annual financial statements. In the opinion of management, adjustments, all of which are of a normal recurring nature, considered necessary for a fair presentation have been included. The financial statements include the accounts of Photronics, its wholly owned subsidiaries, and the majority-owned subsidiaries, which it controls. All significant intercompany balances and transactions have been eliminated in consolidation. These financial statements should be read in conjunction with the consolidated financial statements and accompanying notes included in our Form 10-K for the fiscal year ended October 31, 2023, where we discuss and provide additional information about our accounting policies and the methods and assumptions used in our estimates.
Estimates and Assumptions	The preparation of financial statements in conformity with U.S. GAAP requires us to make estimates and assumptions that affect amounts reported in them. Our estimates are based on historical experience and on various assumptions that we believe to be reasonable under the facts and circumstances at the time they are made. Subsequent actual results may differ from such estimates. We review these estimates periodically and reflect any effects of revisions in the period in which they are determined.

INVENTORIES (Policies)

INVENTORIES (Policies)	9 Months Ended
	Jul. 28, 2024
INVENTORIES [Abstract]
Inventories	Inventories are stated at the lower of cost, determined under the first-in, first-out (“FIFO”)

PDMCX JOINT VENTURE (Policies)

PDMCX JOINT VENTURE (Policies)	9 Months Ended
	Jul. 28, 2024
PDMCX JOINT VENTURE [Abstract]
Variable Interest Entities	As required by the guidance in Topic 810 - “Consolidation” of the our involvement in PDMCX for the purpose of determining whether we should consolidate its results in our financial statements. The initial step of our evaluation was to determine whether PDMCX was a variable interest entity (“VIE”). Due to its lack of sufficient equity at risk to finance its activities without additional subordinated financial support, we determined that it was a VIE. Having made this determination, we then assessed whether we were the primary beneficiary of the VIE and concluded that we were the primary beneficiary during the current and prior year reporting periods; thus, as required, the PDMCX financial results have been consolidated with Photronics. Our conclusion was based on the facts that we held a controlling financial interest in PDMCX (which resulted from our having the power to direct the activities that most significantly impacted its economic performance) and had the obligation to absorb losses and the right to receive benefits that could potentially be significant to PDMCX. Our conclusions that we had the power to direct the activities that most significantly affected the economic performance of PDMCX during the current and prior year reporting periods were based on our right to appoint the majority of its board of directors, which has, among others, the powers to manage the business (through its rights to appoint and evaluate PDMCX’s management), incur indebtedness, enter into agreements and commitments, and acquire and dispose of PDMCX’s assets. In addition, as a result of the variable interest we held during the current and prior year periods, we had the obligation to absorb losses, and the right to receive benefits, that could potentially be significant to PDMCX.

REVENUE (Policies)

REVENUE (Policies)	9 Months Ended
	Jul. 28, 2024
REVENUE [Abstract]
Revenue	We recognize revenue when, or as, control of a good or service transfers to a customer, in an amount that reflects the consideration to which we expect to be entitled in exchange for transferring those goods or services. We account for an arrangement as a revenue contract when each party has approved and is committed to perform under the contract, the rights of the contracting parties regarding the goods or services to be transferred and the payment terms are identifiable, the arrangement has commercial substance, and collection of consideration is probable. Substantially all of our revenue comes from the sales of photomasks. We typically contract with our customers to sell sets of photomasks, which are comprised of multiple layers, the predominance of which we invoice as they ship to customers. As the photomasks are manufactured to customer specifications, they have no alternative use to us and, as our contracts generally provide us with the right to payment for work completed to date, we recognize revenue as we perform, or “over time”, on most of our contracts. We measure our performance to date using an input method, which is based on our estimated costs to complete the various manufacturing phases of a photomask. At the end of a reporting period, there are a number of uncompleted revenue contracts on which we have performed; for any such contracts under which we are entitled to be compensated for our costs incurred plus a reasonable profit, we recognize revenue and a corresponding contract asset for such performance. We account for shipping and handling activities that we perform after a customer obtains control of a good as being activities to fulfill our promise to transfer the good to the customer, rather than as promised services, or performance obligations, under the contract. We report our revenue net of any sales or similar taxes we collect on behalf of government entities. As stated above, photomasks are manufactured to customer specifications in accordance with their proprietary designs; thus, they are individually unique. Due to their uniqueness and other factors, their transaction prices are individually established through negotiations with customers; consequently, our photomasks do not have standard or “list” prices. The transaction prices of the vast majority of our revenue contracts include only fixed amounts of consideration. In certain instances, such as when we offer a customer an early payment discount, an estimate of variable consideration would be included in the transaction price, but only to the extent that a significant reversal of revenue would not occur when the uncertainty related to the variability was resolved. Contract Assets, Contract Liabilities, and Accounts Receivable We recognize a contract asset when our performance under a contract precedes our receipt of consideration from a customer, or before payment is due, and our receipt of consideration is conditional upon factors other than the passage of time. Contract assets reflect our transfer of control of photomasks that are in process or completed but not yet shipped to customers. A receivable is recognized when we have an unconditional right to payment for our performance, which generally occurs when we ship the photomasks. Our contract assets primarily consist of a significant amount of our in-process production orders and fully manufactured photomasks which have not yet shipped, for which we have an enforceable right to collect consideration (including a reasonable profit) in the event the in-process orders are cancelled by customers. On an individual contract basis, we net contract assets with contract liabilities (deferred revenue) for financial reporting purposes. We did not identify impairment indicators for any outstanding contract assets during the three or nine-month periods ended July 28, 2024 or July 30, 2023. We generally record our accounts receivable at their billed amounts. All outstanding past due customer invoices are reviewed for collectability during, and at the end of, every reporting period. To the extent we believe a loss on the collection of a customer invoice is probable, we record the loss and credit an allowance for credit losses. In the event that an amount is determined to be uncollectible, we charge the allowance for credit losses and derecognize the related receivable. We July 28, 2024, and July 30, 2023 Our invoice terms generally range from net- thirty In instances when we are paid in advance of our performance, we record a contract liability and, as allowed under the practical expedient in Topic 606, recognize interest expense only if the period between when we receive payment from the customer and the date when we expect to be entitled to the payment is greater than one year. Historically, advance payments we have received from customers have generally not preceded the completion of our performance obligations by more than one year.

SHARE-BASED COMPENSATION (Polic

SHARE-BASED COMPENSATION (Policies)	9 Months Ended
	Jul. 28, 2024
Restricted Stock [Member]
Stock Options [Abstract]
Share-Based Compensation	Restricted Stock Awards We periodically grant restricted stock awards, the restrictions on which typically lapse over a service period of one to four years . The fair value of the awards is determined on the date of grant, based on the closing price of our common stock.
Employee Stock Option [Member]
Stock Options [Abstract]
Share-Based Compensation	Stock Options Option awards generally vest in one The table below presents information on our stock options for three and nine-month periods ended July 28, 2024 and July 30, 2023 .

INCOME TAXES (Policies)

INCOME TAXES (Policies)	9 Months Ended
	Jul. 28, 2024
INCOME TAXES [Abstract]
Income Taxes	We calculate our provision for income taxes at the end of each interim reporting period on the basis of an estimated annual effective tax rate adjusted for tax items that are discrete to each period. The table below sets forth the primary reasons that our effective income tax rates differed from the U.S. statutory tax rates in effect during the three and nine-month periods ended July 28, 2024 and July 30, 2023.

RECENT ACCOUNTING PRONOUNCEME_2

RECENT ACCOUNTING PRONOUNCEMENTS (Policies)	9 Months Ended
	Jul. 28, 2024
RECENT ACCOUNTING PRONOUNCEMENTS [Abstract]
Recent Accounting Pronouncements	Accounting Standards Updates to be Adopted In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures”, to enhance the transparency and decision usefulness of income tax disclosures. The amendments in this Update related to the rate reconciliation and income taxes paid disclosures to improve the transparency of income tax disclosures by requiring (1) consistent categories and greater disaggregation of information in the rate reconciliation and (2) income taxes paid disaggregated by jurisdiction. The amendments allow investors to better assess, in their capital allocation decisions, how an entity’s worldwide operations and related tax risks and tax planning and operational opportunities affect its income tax rate and prospects for future cash flows. The guidance in this Update will be effective for Photronics in its fiscal year 2026 Form 10-K, with early application of the amendments allowed. We are currently evaluating the effect the adoption of this ASU may have on our disclosures. In November 2023, the FASB issued ASU 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures”, which improves reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. The guidance in this Update is effective for Photronics in its fiscal year 2025 Form 10-K, with early adoption permitted. We are currently evaluating the effect the adoption of this ASU may have on our disclosures.

ACCOUNT RECEIVABLES (Tables)

ACCOUNT RECEIVABLES (Tables)	9 Months Ended
	Jul. 28, 2024
ACCOUNT RECEIVABLES [Abstract]
Accounts Receivable	The components of Accounts Receivable July 28, October 31, 2024 2023 Accounts Receivable $ 173,731 $ 171,433 Unbilled Receivable 27,391 24,593 Allowance for Credit Losses (1,196 ) (1,099 ) $ 199,926 $ 194,927

INVESTMENTS (Tables)

INVESTMENTS (Tables)	9 Months Ended
	Jul. 28, 2024
INVESTMENTS [Abstract]
Assets Measured at Fair Value on Recurring Basis	The following are the major categories of assets measured at fair value on a recurring basis using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2) and significant unobservable inputs (Level 3): July 28, 2024 October 31, 2023 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total U.S. Government Securities $ 4,155 $ - $ - $ 4,155 $ 12,915 $ - $ - $ 12,915 Time deposits $ - $ 64,891 $ - $ 64,891 $ - $ - $ - $ - Total $ 4,155 $ 64,891 $ - $ 69,046 $ 12,915 $ - $ - $ 12,915
Available-for-Sale Debt Securities and Time Deposits	The table below provides information on our available-for-sale debt securities and time deposits classified as short-term investments. July 28, 2024 October 31, 2023 Amortized Cost Unrealized Gains Unrealized Losses Carrying Value Amortized Cost Unrealized Gains Unrealized Losses Carrying Value U.S. Government Securities $ 4,135 $ 20 $ - $ 4,155 $ 12,913 $ 4 $ (2 ) $ 12,915 Time deposits 64,891 - - 64,891 - - - - Total $ 69,026 $ 20 $ - $ 69,046 $ 12,913 $ 4 $ (2 ) $ 12,915

INVENTORIES (Tables)

INVENTORIES (Tables)	9 Months Ended
	Jul. 28, 2024
INVENTORIES [Abstract]
Inventories	Inventories are stated at the lower of cost, determined under the first-in, first-out (“FIFO”) Inventories July 28, 2024 October 31, 2023 Raw materials $ 54,658 $ 48,948 Work in process 814 1,010 Finished goods - 5 $ 55,472 $ 49,963

PROPERTY, PLANT, AND EQUIPMEN_2

PROPERTY, PLANT, AND EQUIPMENT, NET (Tables)	9 Months Ended
	Jul. 28, 2024
PROPERTY, PLANT, AND EQUIPMENT, NET [Abstract]
Components of Property, Plant and Equipment, Net	Presented below are the components of Property, plant, and equipment, net July 28, 2024 October 31, 2023 Land $ 11,346 $ 11,378 Buildings and improvements 187,129 185,850 Machinery and equipment 1,971,632 1,922,041 Leasehold improvements 18,781 18,894 Furniture, fixtures, and office equipment 16,926 15,856 Construction in progress 61,360 55,434 2,267,174 2,209,453 Accumulated depreciation and amortization (1,544,536 ) (1,500,209 ) $ 722,638 $ 709,244
Information on ROU Assets from Finance Leases	Information on ROU assets resulting from finance leases, at the balance sheet dates, is presented below. July 28, 2024 October 31, 2023 Machinery and equipment $ 42,815 $ 42,820 Accumulated amortization (9,777 ) (7,655 ) $ 33,038 $ 35,165
Depreciation Expense	The following table presents depreciation expense (including the amortization of ROU assets) related to property, plant, and equipment incurred during the reporting periods Three Months Ended Nine Months Ended July 28, 2024 July 30, 2023 July 28, 2024 July 30, 2023 Depreciation Expense $ 20,036 $ 20,346 $ 61,332 $ 59,255

PDMCX JOINT VENTURE (Tables)

PDMCX JOINT VENTURE (Tables)	9 Months Ended
	Jul. 28, 2024
PDMCX JOINT VENTURE [Abstract]
Net Income (Loss) Recorded from Operations	The following table presents net income we recorded from the operations of PDMCX during the reporting periods. Three Months Ended Nine Months Ended July 28, 2024 July 30, 2023 July 28, July 30, 2023 Net income from PDMCX $ 4,369 $ 7,130 $ 16,296 $ 19,700
Carrying Amounts and Exposure to Loss Related to Assets and Liabilities	The following table presents the carrying amounts of PDMCX assets and liabilities included in our condensed consolidated balance sheets. General creditors of PDMCX do not have recourse to the assets of Photronics (other than the net assets of PDMCX); therefore, our maximum exposure to loss from PDMCX is our interest in the carrying amount of the net assets of the joint venture. July 28, 2024 October 31, 2023 Classification Carrying Amount Photronics Interest Carrying Amount Photronics Interest Current assets $ 164,333 $ 82,183 $ 135,960 $ 67,994 Noncurrent assets 144,873 72,451 136,334 68,181 Total assets 309,206 154,634 272,294 136,175 Current liabilities 38,674 19,341 36,305 18,156 Noncurrent liabilities 1,895 948 1,873 937 Total liabilities 40,569 20,289 38,178 19,093 Net assets $ 268,637 $ 134,345 $ 234,116 $ 117,082

DEBT (Tables)

DEBT (Tables)	9 Months Ended
	Jul. 28, 2024
DEBT [Abstract]
Long-term Debt	As of July 28, 2024, the Current portion of long-term debt and the long-term debt balances were comprised of finance leases as described below: As of July 28, 2024 Finance Leases Principal due: Next 12 months $ 20,090 Months 13 – 24 $ 12 Months 25 – 36 12 Months 37 – 48 4 Months 49 – 60 - Long-term debt 28 Total debt $ 20,118 Interest rate at balance sheet date N/A Basis spread on interest rates N/A Interest rate reset N/A Maturity date N/A Periodic payment amount Varies as Lease matures Periodic payment frequency Monthly Loan collateral (carrying amount) $ 33,038 (1) (1) Represents the carrying amount at the balance sheet date of the related ROU assets, in which the lessors have secured interests. The table below provides information on our long-term debt as of October 31, 2023. As of October 31, 2023 Finance Leases Principal due: Next 12 months $ 6,621 Months 13 – 24 $ 17,972 Months 25 – 36 12 Months 37 – 48 13 Months 49 – 60 1 Long-term debt 17,998 Total debt $ 24,619 Interest rate at balance sheet date N/A Basis spread on interest rates N/A Interest rate reset N/A Maturity date N/A Periodic payment amount Varies as Lease matures Periodic payment frequency Monthly Loan collateral (carrying amount) $ 35,165 (1) (1) Represents the carrying amount at the balance sheet date of the related ROU assets, in which the lessors have secured interests.

REVENUE (Tables)

REVENUE (Tables)	9 Months Ended
	Jul. 28, 2024
REVENUE [Abstract]
Contract Balances	The following table provides information about our contract balances at the balance sheet dates. Classification July 28, 2024 October 31, 2023 Contract Assets Other current assets $ 12,292 $ 10,984 Contract Liabilities Accrued liabilities $ 13,660 $ 9,965 Other liabilities 9,973 12,454 $ 23,633 $ 22,419 The Company did not recognize any revenue from performance obligations satisfied in the previous periods. Three Months Ended Nine Months Ended July 28, 2024 July 30, 2023 July 28, 2024 July 30, 2023 Revenue recognized from beginning liability $ 7,057 $ 10,755 $ 11,072 $ 10,524
Disaggregation of Revenue	The following tables present our revenue for the three and nine-month periods ended July , disaggregated by product type, geographic origin, and timing of recognition. Three Months Ended Nine Months Ended Revenue by Product Type July 28, 2024 July 30, 2023 July 28, 2024 July 30, 2023 IC High-end $ 49,499 $ 45,324 $ 168,417 $ 137,247 Mainstream 106,385 117,816 305,984 349,536 Total IC $ 155,884 $ 163,140 $ 474,401 $ 486,783 FPD High-end $ 48,394 $ 49,981 $ 146,987 $ 147,560 Mainstream 6,706 11,085 22,930 30,260 Total FPD $ 55,100 $ 61,066 $ 169,917 $ 177,820 $ 210,984 $ 224,206 $ 644,318 $ 664,603 Three Months Ended Nine Months Ended Revenue by Geographic Origin * July 28, 2024 July 30, 2023 July 28, 2024 July 30, 2023 Taiwan $ 68,182 $ 81,594 $ 218,557 $ 237,610 China 55,301 62,042 172,131 186,191 Korea 38,412 40,833 118,033 120,037 United States 38,833 29,696 104,880 92,073 Europe 9,759 9,535 29,390 27,257 Other 497 506 1,327 1,435 $ 210,984 $ 224,206 $ 644,318 $ 664,603 * This table disaggregates revenue by the location in which it was earned. Three Months Ended Nine Months Ended Revenue by Timing of Recognition July 28, 2024 July 30, 2023 July 28, 2024 July 30, 2023 Over time $ 202,177 $ 214,647 $ 616,893 $ 627,188 At a point in time 8,807 9,559 27,425 37,415 210,984 224,206 644,318 664,603

SHARE-BASED COMPENSATION (Table

SHARE-BASED COMPENSATION (Tables)	9 Months Ended
	Jul. 28, 2024
SHARE-BASED COMPENSATION [Abstract]
Share-based Compensation Expenses	The table below presents information on our share-based compensation expenses for the three and nine-month periods ended July 28, 2024 and July 30, 2023. Three Months Ended Nine Months Ended July 28, 2024 July 30, 2023 July 28, 2024 July 30, 2023 Expense reported in: Cost of goods sold $ 683 $ 322 $ 1,946 $ 892 Selling, general, and administrative 2,388 1,499 7,126 4,407 Research and development 271 222 769 575 Total expense incurred $ 3,342 $ 2,043 $ 9,841 $ 5,874 Expense by award type: Restricted stock awards $ 3,342 $ 2,043 $ 9,841 $ 5,782 Stock options - - - 1 Employee stock purchase plan - - - 91 Total expense incurred $ 3,342 $ 2,043 $ 9,841 $ 5,874 Income tax benefits of share-based compensation $ 323 $ 152 $ 745 $ 513
Restricted Stock Awards Activity	The table below presents information on our restricted stock awards for the three and nine-month periods ended July 28, 2024 and July 30, 2023. Three Months Ended Nine Months Ended July 28, 2024 July 30, 2023 July 28, 2024 July 30, 2023 Number of shares granted in period - - 825,050 786,500 Weighted-average grant-date fair value of awards (in dollars per share) $ - $ - $ 29.77 $ 16.77 Compensation cost not yet recognized $ 25,750 $ 14,511 $ 25,750 $ 14,511 Weighted-average amortization period for cost not yet recognized (in years) 2.9 2.9 2.9 2.9 Shares outstanding at balance sheet date 1,513,827 1,267,247 1,513,827 1,267,247
Stock Options Activity	The table below presents information on our stock options for three and nine-month periods ended July 28, 2024 and July 30, 2023 . Three Months Ended Nine Months Ended July 28, 2024 July 30, 2023 July 28, 2024 July 30, 2023 Number of options granted in period - - - - Cash received from option exercised $ 20 $ 512 $ 1,074 $ 1,094 Compensation cost not yet recognized $ - $ - $ - $ - Weighted-average amortization period for cost not yet recognized (in years) - - - -
Outstanding and Exercisable Option	Information respecting outstanding and exercisable option awards as of July 28, 2024, is presented below. Options Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Life (in years) Aggregate Intrinsic Value Outstanding and exercisable at July 28, 2024 358,125 $ 10.33 2.08 $ 5,476

INCOME TAXES (Tables)

INCOME TAXES (Tables)	9 Months Ended
	Jul. 28, 2024
INCOME TAXES [Abstract]
Reconciliation of Effective Income Tax Rates from U.S. Statutory Tax Rates	The table below sets forth the primary reasons that our effective income tax rates differed from the U.S. statutory tax rates in effect during the three and nine-month periods ended July 28, 2024 and July 30, 2023. Reporting Period U.S. Statutory Tax Rates Photronics Effective Tax Rates Primary Reasons for Differences Three months ended July 28, 2024 21.0% 22.7% Non-recognition of the tax benefit of losses that, in certain jurisdictions, have been offset by valuation allowances, non-U.S. pre-tax income being taxed at higher statutory rates in the non-U.S. jurisdictions, and the establishment of uncertain tax positions in non-U.S. jurisdictions. Three months ended July 30, 2023 21.0% 25.0% Non-recognition of the tax benefit of losses that, in certain jurisdictions, have been offset by valuation allowances, non-U.S. pre-tax income being taxed at higher statutory rates in the non-U.S. jurisdictions, and the establishment of uncertain tax positions in non-U.S. jurisdictions. Nine Months ended July 28, 2024 21.0% 25.4% Non-recognition of the tax benefit of losses that, in certain jurisdictions, have been offset by valuation allowances, non-U.S. pre-tax income being taxed at higher statutory rates in the non-U.S. jurisdictions, and the establishment of uncertain tax positions in non-U.S. jurisdictions. Nine Months ended July 30, 2023 21.0% 26.8% Non-recognition of the tax benefit of losses that, in certain jurisdictions, have been offset by valuation allowances, non-U.S. pre-tax income being taxed at higher statutory rates in the non-U.S. jurisdictions, and the establishment of uncertain tax positions in non-U.S. jurisdictions.
Unrecognized Tax Benefits	The table below presents information on our unrecognized tax benefits as of the balance sheet dates. July 28, 2024 October 31, 2023 Unrecognized tax benefits related to uncertain tax positions $ 11,773 $ 8,908 Unrecognized tax benefits that, if recognized, would impact the effective tax rate $ 11,773 $ 8,908 Accrued interest and penalties related to uncertain tax positions $ 922 $ 576

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	9 Months Ended
	Jul. 28, 2024
EARNINGS PER SHARE [Abstract]
Computation of Basic and Diluted Earnings Per Share	The following sets forth the computation of basic and diluted earnings per share: Three Months Ended Nine Months Ended July 28, 2024 July 30, 2023 July 28, 2024 July 30, 2023 Net income attributable to Photronics, Inc. shareholders $ 34,388 $ 26,959 $ 96,819 $ 80,874 Effect of dilutive securities - - - - Earnings used for diluted earnings per share $ 34,388 $ 26,959 $ 96,819 $ 80,874 Weighted-average common shares computations: Weighted-average common shares used for basic earnings per share 61,815 61,233 61,681 61,089 Effect of dilutive securities: Share-based payment awards 599 741 688 561 Potentially dilutive common shares 599 741 688 561 Weighted-average common shares used for diluted earnings per share 62,414 61,974 62,369 61,650 Basic earnings per share $ 0.56 $ 0.44 $ 1.57 $ 1.32 Diluted earnings per share $ 0.55 $ 0.44 $ 1.55 $ 1.31
Outstanding Securities Excluded from Calculation of Diluted Earnings or Loss Per Share	The table below illustrates 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. Three Months Ended Nine Months Ended July 28, 2024 July 30, 2023 July 28, 2024 July 30, 2023 Share-based payment awards 551 - 264 178 Total potentially dilutive shares excluded 551 - 264 178

CHANGES IN ACCUMULATED OTHER _2

CHANGES IN ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME BY COMPONENT (Tables)	9 Months Ended
	Jul. 28, 2024
CHANGES IN ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME BY COMPONENT [Abstract]
Changes in Accumulated Other Comprehensive (Loss) Income by Component	The following tables set forth the changes in our accumulated other comprehensive (loss) income by component (net of tax of $0) for the three and nine-month periods ended July 28, 2024 Three Months Ended July 28, 2024 Foreign Currency Translation Adjustments Other Total Balance at April 28, 2024 $ (95,271 ) $ (661 ) $ (95,932 ) Other comprehensive (loss) income (6,114 ) 48 (6,066 ) Other comprehensive (loss) income attributable to noncontrolling interests 1,534 (16 ) 1,518 Balance at July 28 2024 $ (99,851 ) $ (629 ) $ (100,480 ) Three Months Ended July 30, 2023 Foreign Currency Translation Adjustments Other Total Balance at April 30, 2023 $ (58,790 ) $ (715 ) $ (59,505 ) Other comprehensive (loss) income (3,639 ) 80 (3,559 ) Other comprehensive (loss) income attributable to noncontrolling interests 7,293 (24 ) 7,269 Balance at July 30 2023 $ (55,136 ) $ (659 ) $ (55,795 ) Nine Months Ended July 28, 2024 Foreign Currency Translation Adjustments Other Total Balance at October 31, 2023 $ (88,044 ) $ (690 ) $ (88,734 ) Other comprehensive (loss) income (13,819 ) 103 (13,716 ) Other comprehensive (loss) income attributable to noncontrolling interests 2,012 (42 ) 1,970 Balance at July 28 2024 $ (99,851 ) $ (629 ) $ (100,480 ) Nine Months Ended July 30, 2023 Foreign Currency Translation Adjustments Other Total Balance at October 31, 2022 $ (97,790 ) $ (666 ) $ (98,456 ) Other comprehensive income 47,068 91 47,159 Other comprehensive (loss) income attributable to noncontrolling interests (4,414 ) (84 ) (4,498 ) Balance at July 30 2023 $ (55,136 ) $ (659 ) $ (55,795 )

BASIS OF FINANCIAL STATEMENT _3

BASIS OF FINANCIAL STATEMENT PRESENTATION (Details)	9 Months Ended
	Jul. 28, 2024 Facility
Manufacturing Facilities [Abstract]
Number of manufacturing facilities	11
Taiwan [Member]
Manufacturing Facilities [Abstract]
Number of manufacturing facilities	3
Korea [Member]
Manufacturing Facilities [Abstract]
Number of manufacturing facilities	1
China [Member]
Manufacturing Facilities [Abstract]
Number of manufacturing facilities	2
United States [Member]
Manufacturing Facilities [Abstract]
Number of manufacturing facilities	3
Europe [Member]
Manufacturing Facilities [Abstract]
Number of manufacturing facilities	2

ACCOUNT RECEIVABLES (Details)

ACCOUNT RECEIVABLES (Details) - USD ($) $ in Thousands	Jul. 28, 2024	Oct. 31, 2023
ACCOUNT RECEIVABLES [Abstract]
Accounts Receivable	$ 173,731	$ 171,433
Unbilled Receivable	27,391	24,593
Allowance for Credit Losses	(1,196)	(1,099)
Total	$ 199,926	$ 194,927

INVESTMENTS (Details)

INVESTMENTS (Details) - USD ($) $ in Thousands	Jul. 28, 2024	Oct. 31, 2023
Assets, Fair Value Disclosure [Abstract]
Maturity of time deposits	12 months
Available-for-sale [Abstract]
Amortized Cost	$ 69,026	$ 12,913
Unrealized Gains	20	4
Unrealized Losses	0	(2)
Carrying Value	69,046	12,915
Time Deposits [Member]
Available-for-sale [Abstract]
Amortized Cost	64,891	0
Unrealized Gains	0	0
Unrealized Losses	0	0
Carrying Value	64,891	0
U.S. Government Securities [Member]
Available-for-sale [Abstract]
Amortized Cost	4,135	12,913
Unrealized Gains	20	4
Unrealized Losses	0	(2)
Carrying Value	4,155	12,915
Fair Value, Recurring [Member]
Assets, Fair Value Disclosure [Abstract]
Assets, fair value disclosure	69,046	12,915
Fair Value, Recurring [Member] | Time Deposits [Member]
Assets, Fair Value Disclosure [Abstract]
Assets, fair value disclosure	64,891	0
Fair Value, Recurring [Member] | U.S. Government Securities [Member]
Assets, Fair Value Disclosure [Abstract]
Assets, fair value disclosure	4,155	12,915
Fair Value, Recurring [Member] | Level 1 [Member]
Assets, Fair Value Disclosure [Abstract]
Assets, fair value disclosure	4,155	12,915
Fair Value, Recurring [Member] | Level 1 [Member] | Time Deposits [Member]
Assets, Fair Value Disclosure [Abstract]
Assets, fair value disclosure	0	0
Fair Value, Recurring [Member] | Level 1 [Member] | U.S. Government Securities [Member]
Assets, Fair Value Disclosure [Abstract]
Assets, fair value disclosure	4,155	12,915
Fair Value, Recurring [Member] | Level 2 [Member]
Assets, Fair Value Disclosure [Abstract]
Assets, fair value disclosure	64,891	0
Fair Value, Recurring [Member] | Level 2 [Member] | Time Deposits [Member]
Assets, Fair Value Disclosure [Abstract]
Assets, fair value disclosure	64,891	0
Fair Value, Recurring [Member] | Level 2 [Member] | U.S. Government Securities [Member]
Assets, Fair Value Disclosure [Abstract]
Assets, fair value disclosure	0	0
Fair Value, Recurring [Member] | Level 3 [Member]
Assets, Fair Value Disclosure [Abstract]
Assets, fair value disclosure	0	0
Fair Value, Recurring [Member] | Level 3 [Member] | Time Deposits [Member]
Assets, Fair Value Disclosure [Abstract]
Assets, fair value disclosure	0	0
Fair Value, Recurring [Member] | Level 3 [Member] | U.S. Government Securities [Member]
Assets, Fair Value Disclosure [Abstract]
Assets, fair value disclosure	$ 0	$ 0

INVENTORIES (Details)

INVENTORIES (Details) - USD ($) $ in Thousands	Jul. 28, 2024	Oct. 31, 2023
INVENTORIES [Abstract]
Raw materials	$ 54,658	$ 48,948
Work in process	814	1,010
Finished goods	0	5
Inventories	$ 55,472	$ 49,963

PROPERTY, PLANT, AND EQUIPMEN_3

PROPERTY, PLANT, AND EQUIPMENT, NET (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jul. 28, 2024	Jul. 30, 2023	Jul. 28, 2024	Jul. 30, 2023	Oct. 31, 2023
Property, plant and equipment [Abstract]
Property, plant and equipment, gross	$ 2,267,174		$ 2,267,174		$ 2,209,453
Accumulated depreciation and amortization	(1,544,536)		(1,544,536)		(1,500,209)
Property, plant and equipment, net	722,638		722,638		709,244
Finance lease, Right-of-use asset [Abstract]
Finance lease, right-of-use asset, gross	42,815		42,815		42,820
Accumulated amortization	(9,777)		(9,777)		(7,655)
Finance lease, right-of-use asset, net	33,038		33,038		35,165
Depreciation Expense [Abstract]
Depreciation Expense	20,036	$ 20,346	61,332	$ 59,255
Land [Member]
Property, plant and equipment [Abstract]
Property, plant and equipment, gross	11,346		11,346		11,378
Buildings and Improvements [Member]
Property, plant and equipment [Abstract]
Property, plant and equipment, gross	187,129		187,129		185,850
Machinery and Equipment [Member]
Property, plant and equipment [Abstract]
Property, plant and equipment, gross	1,971,632		1,971,632		1,922,041
Leasehold Improvements [Member]
Property, plant and equipment [Abstract]
Property, plant and equipment, gross	18,781		18,781		18,894
Furniture, Fixtures and Office Equipment [Member]
Property, plant and equipment [Abstract]
Property, plant and equipment, gross	16,926		16,926		15,856
Construction in Progress [Member]
Property, plant and equipment [Abstract]
Property, plant and equipment, gross	$ 61,360		$ 61,360		$ 55,434

PDMCX JOINT VENTURE, VIE (Detai

PDMCX JOINT VENTURE, VIE (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		9 Months Ended
	Jan. 31, 2018	Jul. 28, 2024	Jul. 30, 2023	Jul. 28, 2024	Jul. 30, 2023	Oct. 31, 2023
Variable Interest Entity [Abstract]
Long-term debt		$ 28		$ 28		$ 17,998
Photronics and DNP [Member]
Variable Interest Entity [Abstract]
Period before put or purchase option can be exercised				6 months
Number of business days for obtaining required approvals and clearance for exiting party				3 days
Net Income (Loss) from Operations [Abstract]
Net income from PDMCX		$ 4,369	$ 7,130	$ 16,296	$ 19,700
Photronics and DNP [Member] | Minimum [Member]
Variable Interest Entity [Abstract]
Ownership percentage				20%
PDMCX [Member]
Variable Interest Entity [Abstract]
Long-term debt						$ 0
Photronics Interest [Member]
Variable Interest Entity [Abstract]
Ownership percentage				50.01%
DNP [Member]
Variable Interest Entity [Abstract]
Ownership percentage	49.99%

PDMCX JOINT VENTURE, Carrying A

PDMCX JOINT VENTURE, Carrying Amounts of Assets and Liabilities (Details) - USD ($) $ in Thousands	Jul. 28, 2024	Oct. 31, 2023
Carrying Amounts of Assets and Liabilities [Abstract]
Current assets	$ 892,640	$ 785,450
Total assets	1,645,101	1,526,221
Current liabilities	191,126	185,223
Total liabilities	231,672	250,612
Carrying Amount [Member]
Carrying Amounts of Assets and Liabilities [Abstract]
Current assets	164,333	135,960
Noncurrent assets	144,873	136,334
Total assets	309,206	272,294
Current liabilities	38,674	36,305
Noncurrent liabilities	1,895	1,873
Total liabilities	40,569	38,178
Net assets	268,637	234,116
Photronics Interest [Member]
Carrying Amounts of Assets and Liabilities [Abstract]
Current assets	82,183	67,994
Noncurrent assets	72,451	68,181
Total assets	154,634	136,175
Current liabilities	19,341	18,156
Noncurrent liabilities	948	937
Total liabilities	20,289	19,093
Net assets	$ 134,345	$ 117,082

DEBT, Long-term Debt (Details)

DEBT, Long-term Debt (Details) - USD ($) $ in Thousands		9 Months Ended	12 Months Ended
		Jul. 28, 2024	Oct. 31, 2023
Long-term Debt [Abstract]
Long-term debt		$ 28	$ 17,998
Finance Leases [Member]
Long Term Debt Maturing In Year One [Abstract]
Next 12 months		20,090	6,621
Long-term Debt [Abstract]
Months 13 - 24		12	17,972
Months 25 - 36		12	12
Months 37 - 48		4	13
Months 49 - 60		0	1
Long-term debt		28	17,998
Total debt		$ 20,118	$ 24,619
Periodic payment amount		Varies as Lease matures	Varies as Lease matures
Periodic payment frequency		Monthly	Monthly
Loan collateral (carrying amount)	[1]	$ 33,038	$ 35,165
[1]Represents the carrying amount at the balance sheet date of the related ROU assets, in which the lessors have secured interests.

DEBT, Finance Leases (Details)

DEBT, Finance Leases (Details) - USD ($) $ in Thousands	1 Months Ended
	Feb. 28, 2021	Jan. 31, 2021	Jul. 28, 2024	Dec. 31, 2020
$7.2 Million Finance Lease [Member]
Finance Lease, [Abstract]
Finance lease contract term			5 years
Finance lease amount	$ 7,200
Early buyout option to purchase tool	$ 2,400
Finance lease interest implicit rate	1.08%
$7.2 Million Finance Lease [Member] | Monthly [Member]
Finance Lease, [Abstract]
Finance lease monthly payments	$ 100
$35.5 Million Finance Lease [Member]
Finance Lease, [Abstract]
Finance lease contract term			5 years
Finance lease amount				$ 35,500
Cash limit for dividends, distributions and redemption on equity		$ 50,000
Early buyout option to purchase tool		$ 14,100
Finance lease interest implicit rate		1.58%
$35.5 Million Finance Lease [Member] | First Three Months [Member]
Finance Lease, [Abstract]
Finance lease monthly payments		$ 40
$35.5 Million Finance Lease [Member] | Following Nine Months [Member]
Finance Lease, [Abstract]
Finance lease monthly payments		600
$35.5 Million Finance Lease [Member] | Forty Eight Months [Member]
Finance Lease, [Abstract]
Finance lease monthly payments		500
$35.5 Million Finance Lease [Member] | Minimum [Member]
Finance Lease, [Abstract]
Outstanding committed balance for cross default provision		$ 5,000

DEBT, Xiamen Working Capital Lo

DEBT, Xiamen Working Capital Loans (Details) - Xiamen Working Capital Loans [Member] ¥ in Millions, $ in Millions	1 Months Ended		9 Months Ended
	Dec. 31, 2022 USD ($)	Dec. 31, 2022 CNY (¥)	Jul. 28, 2024 USD ($)	Jul. 28, 2024 CNY (¥)	Nov. 30, 2018 USD ($)
Debt Instruments [Abstract]
Maximum borrowing capacity			$ 27.6	¥ 200	$ 25
Expiration date			Jul. 31, 2025
Repayments of long-term debt	$ 3.6	¥ 25.6
Amount outstanding			$ 0

REVENUE, Contract Assets, Liabi

REVENUE, Contract Assets, Liabilities and Accounts Receivable (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jul. 28, 2024	Jul. 30, 2023	Jul. 28, 2024	Jul. 30, 2023	Oct. 31, 2023
Contract with Customer, Asset and Liability [Abstract]
Impairment of credit losses on accounts receivable	$ 0	$ 0	$ 0	$ 0
Credit losses on accounts receivable	100	100	100	100
Contract liabilities	23,633		23,633		$ 22,419
Change in Contract with Customer, Liability [Abstract]
Revenue from performance obligation	0		0
Revenue recognized from beginning liability	7,057	$ 10,755	11,072	$ 10,524
Other Current Assets [Member]
Contract with Customer, Asset and Liability [Abstract]
Contract assets	12,292		12,292		10,984
Accrued Liabilities [Member]
Contract with Customer, Asset and Liability [Abstract]
Contract liabilities	13,660		13,660		9,965
Other Liabilities [Member]
Contract with Customer, Asset and Liability [Abstract]
Contract liabilities	$ 9,973		$ 9,973		$ 12,454
Minimum [Member]
Revenue, Performance Obligation [Abstract]
Product invoice term			30 days
Product warranty period			1 month
Maximum [Member]
Revenue, Performance Obligation [Abstract]
Product invoice term			90 days
Product warranty period			24 months
IC [Member] | Minimum [Member]
Backlog of Orders [Abstract]
Customer order, expected satisfaction period			7 days
Customer order, extended satisfaction period			2 months
IC [Member] | Maximum [Member]
Backlog of Orders [Abstract]
Customer order, expected satisfaction period			14 days
Customer order, extended satisfaction period			3 months
FPD [Member] | Minimum [Member]
Backlog of Orders [Abstract]
Customer order, expected satisfaction period			14 days
FPD [Member] | Maximum [Member]
Backlog of Orders [Abstract]
Customer order, expected satisfaction period			21 days

REVENUE, Disaggregation of Reve

REVENUE, Disaggregation of Revenue (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Jul. 28, 2024	Jul. 30, 2023	Jul. 28, 2024	Jul. 30, 2023
Disaggregation of Revenue [Abstract]
Revenue	[1]	$ 210,984	$ 224,206	$ 644,318	$ 664,603
IC [Member]
Disaggregation of Revenue [Abstract]
Revenue		155,884	163,140	474,401	486,783
High-end [Member]
Disaggregation of Revenue [Abstract]
Revenue		49,499	45,324	168,417	137,247
Mainstream [Member]
Disaggregation of Revenue [Abstract]
Revenue		106,385	117,816	305,984	349,536
FPD [Member]
Disaggregation of Revenue [Abstract]
Revenue		55,100	61,066	169,917	177,820
High-end [Member]
Disaggregation of Revenue [Abstract]
Revenue		48,394	49,981	146,987	147,560
Mainstream [Member]
Disaggregation of Revenue [Abstract]
Revenue		6,706	11,085	22,930	30,260
Taiwan [Member]
Disaggregation of Revenue [Abstract]
Revenue	[1]	68,182	81,594	218,557	237,610
China [Member]
Disaggregation of Revenue [Abstract]
Revenue	[1]	55,301	62,042	172,131	186,191
Korea [Member]
Disaggregation of Revenue [Abstract]
Revenue	[1]	38,412	40,833	118,033	120,037
United States [Member]
Disaggregation of Revenue [Abstract]
Revenue	[1]	38,833	29,696	104,880	92,073
Europe [Member]
Disaggregation of Revenue [Abstract]
Revenue	[1]	9,759	9,535	29,390	27,257
Other [Member]
Disaggregation of Revenue [Abstract]
Revenue	[1]	497	506	1,327	1,435
Over Time [Member]
Disaggregation of Revenue [Abstract]
Revenue		202,177	214,647	616,893	627,188
At a Point in Time [Member]
Disaggregation of Revenue [Abstract]
Revenue		$ 8,807	$ 9,559	$ 27,425	$ 37,415
[1]This table disaggregates revenue by the location in which it was earned.

SHARE-BASED COMPENSATION (Detai

SHARE-BASED COMPENSATION (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended		9 Months Ended
	Mar. 16, 2023	Jul. 28, 2024	Jul. 30, 2023	Jul. 28, 2024	Jul. 30, 2023	Mar. 23, 2016
Share-based Compensation [Abstract]
Maximum number of shares of common stock that may be issued (in shares)	5,000,000					4,000,000
Additional shares available for issuance (in shares)	1,000,000
Expense incurred		$ 3,342	$ 2,043	$ 9,841	$ 5,874
Income tax benefits of share-based compensation		323	152	745	513
Cost of Goods Sold [Member]
Share-based Compensation [Abstract]
Expense incurred		683	322	1,946	892
Selling, General and Administrative [Member]
Share-based Compensation [Abstract]
Expense incurred		2,388	1,499	7,126	4,407
Research and Development [Member]
Share-based Compensation [Abstract]
Expense incurred		271	222	769	575
Restricted Stock [Member]
Share-based Compensation [Abstract]
Expense incurred		$ 3,342	$ 2,043	$ 9,841	$ 5,782
Restricted Stock [Abstract]
Number of shares granted in period (in shares)		0	0	825,050	786,500
Weighted-average grant-date fair value of awards (in dollars per share)		$ 0	$ 0	$ 29.77	$ 16.77
Shares outstanding at balance sheet date (in shares)		1,513,827	1,267,247	1,513,827	1,267,247
Estimated Expenses Not Yet Incurred [Abstract]
Compensation cost not yet recognized		$ 25,750	$ 14,511	$ 25,750	$ 14,511
Weighted-average amortization period for cost not yet recognized (in years)		2 years 10 months 24 days	2 years 10 months 24 days	2 years 10 months 24 days	2 years 10 months 24 days
Restricted Stock [Member] | Minimum [Member]
Share-based Compensation [Abstract]
Award vesting period				1 year
Restricted Stock [Member] | Maximum [Member]
Share-based Compensation [Abstract]
Award vesting period				4 years
Stock Options [Member]
Share-based Compensation [Abstract]
Expense incurred		$ 0	$ 0	$ 0	$ 1
Stock options activity [Abstract]
Contractual term				10 years
Number of options granted in period (in shares)		0	0	0	0
Cash received from option exercised		$ 20	$ 512	$ 1,074	$ 1,094
Estimated Expenses Not Yet Incurred [Abstract]
Compensation cost not yet recognized		$ 0	0	$ 0	0
Outstanding and exercisable option awards [Roll Forward]
Outstanding at end of period (in shares)		358,125		358,125
Exercisable at end of period (in shares)		358,125		358,125
Weighted-Average Exercise Price [Abstract]
Outstanding at end of period (in dollars per share)		$ 10.33		$ 10.33
Exercisable at end of period (in dollars per share)		$ 10.33		$ 10.33
Weighted-Average Remaining Contractual Life (in years) [Abstract]
Outstanding at end of period				2 years 29 days
Exercisable at end of period				2 years 29 days
Aggregate Intrinsic Value [Abstract]
Outstanding at end of period		$ 5,476		$ 5,476
Exercisable at end of period		5,476		$ 5,476
Stock Options [Member] | Minimum [Member]
Share-based Compensation [Abstract]
Award vesting period				1 year
Stock Options [Member] | Maximum [Member]
Share-based Compensation [Abstract]
Award vesting period				4 years
Employee Stock Purchase Plan [Member]
Share-based Compensation [Abstract]
Expense incurred		$ 0	$ 0	$ 0	$ 91

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jul. 28, 2024	Jul. 30, 2023	Jul. 28, 2024	Jul. 30, 2023	Oct. 31, 2023
Effective Income and Statutory Tax Rates [Abstract]
U.S. statutory tax rates	21%	21%	21%	21%
Effective tax rates	22.70%	25%	25.40%	26.80%
Income Tax Examination [Abstract]
Earliest open tax year			2018
Unrecognized Tax Benefits [Abstract]
Unrecognized tax benefits related to uncertain tax positions	$ 11,773		$ 11,773		$ 8,908
Unrecognized tax benefits that, if recognized, would impact the effective tax rate	11,773		11,773		8,908
Accrued interest and penalties related to uncertain tax positions	$ 922		$ 922		$ 576

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Jul. 28, 2024	Jul. 30, 2023	Jul. 28, 2024	Jul. 30, 2023
Calculation of Basic and Diluted Earnings Per Share [Abstract]
Net income attributable to Photronics, Inc. shareholders	$ 34,388	$ 26,959	$ 96,819	$ 80,874
Effect of dilutive securities	0	0	0	0
Earnings used for diluted earnings per share	$ 34,388	$ 26,959	$ 96,819	$ 80,874
Weighted-average Common Shares Computations [Abstract]
Weighted-average common shares used for basic earnings per share (in shares)	61,815	61,233	61,681	61,089
Effect of Dilutive Securities [Abstract]
Share-based payment awards (in shares)	599	741	688	561
Potentially dilutive common shares (in shares)	599	741	688	561
Weighted-average common shares used for diluted earnings per share (in shares)	62,414	61,974	62,369	61,650
Basic earnings per share (in dollars per share)	$ 0.56	$ 0.44	$ 1.57	$ 1.32
Diluted earnings per share (in dollars per share)	$ 0.55	$ 0.44	$ 1.55	$ 1.31
Antidilutive Securities [Abstract]
Total potentially dilutive shares excluded (in shares)	551	0	264	178
Share-based Payment Awards [Member]
Antidilutive Securities [Abstract]
Total potentially dilutive shares excluded (in shares)	551	0	264	178

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) $ in Millions	1 Months Ended	3 Months Ended	9 Months Ended
	Nov. 30, 2022 USD ($)	May 01, 2022 USD ($) Operation	Jul. 28, 2024 USD ($)
Commitment and Contingencies [Abstract]
Outstanding commitments for capital expenditure			$ 129.7
Period of audit			3 years
Contingency loss recorded		$ 2.2
Reversal of loss contingency accrual	$ 1
Minimum [Member]
Commitment and Contingencies [Abstract]
Range of estimated contingency loss		2.2
Maximum [Member]
Commitment and Contingencies [Abstract]
Range of estimated contingency loss		$ 3.7
China [Member]
Commitment and Contingencies [Abstract]
Number of operations | Operation		1

CHANGES IN ACCUMULATED OTHER _3

CHANGES IN ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME BY COMPONENT (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jul. 28, 2024	Jul. 30, 2023	Jul. 28, 2024	Jul. 30, 2023
CHANGES IN ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME BY COMPONENT [Abstract]
Other comprehensive income, tax	$ 0	$ 0	$ 0	$ 0
Changes in Accumulated Other Comprehensive Income [Roll Forward]
Beginning Balance			975,008
Ending Balance	1,067,994		1,067,994
Accumulated Other Comprehensive Income [Member]
Changes in Accumulated Other Comprehensive Income [Roll Forward]
Beginning Balance	(95,932)	(59,505)	(88,734)	(98,456)
Ending Balance	(100,480)	(55,795)	(100,480)	(55,795)
Foreign Currency Translation Adjustments [Member]
Changes in Accumulated Other Comprehensive Income [Roll Forward]
Beginning Balance	(95,271)	(58,790)	(88,044)	(97,790)
Ending Balance	(99,851)	(55,136)	(99,851)	(55,136)
Other [Member]
Changes in Accumulated Other Comprehensive Income [Roll Forward]
Beginning Balance	(661)	(715)	(690)	(666)
Ending Balance	(629)	(659)	(629)	(659)
AOCI Including Portion Attributable to Noncontrolling Interest [Member]
Changes in Accumulated Other Comprehensive Income [Roll Forward]
Other comprehensive (loss) income	(6,066)	(3,559)	(13,716)	47,159
Foreign Currency Translation Adjustments [Member]
Changes in Accumulated Other Comprehensive Income [Roll Forward]
Other comprehensive (loss) income	(6,114)	(3,639)	(13,819)	47,068
Other [Member]
Changes in Accumulated Other Comprehensive Income [Roll Forward]
Other comprehensive (loss) income	48	80	103	91
AOCI Attributable to Noncontrolling Interest [Member]
Changes in Accumulated Other Comprehensive Income [Roll Forward]
Other comprehensive (loss) income attributable to noncontrolling interests	1,518	7,269	1,970	(4,498)
Foreign Currency Translation Adjustments [Member]
Changes in Accumulated Other Comprehensive Income [Roll Forward]
Other comprehensive (loss) income attributable to noncontrolling interests	1,534	7,293	2,012	(4,414)
Other [Member]
Changes in Accumulated Other Comprehensive Income [Roll Forward]
Other comprehensive (loss) income attributable to noncontrolling interests	$ (16)	$ (24)	$ (42)	$ (84)

SHARE REPURCHASE PROGRAMS (Deta

SHARE REPURCHASE PROGRAMS (Details) - USD ($) shares in Thousands, $ in Millions	3 Months Ended		9 Months Ended
	Jul. 28, 2024	Jul. 30, 2023	Jul. 28, 2024	Jul. 30, 2023	Aug. 28, 2024	Sep. 30, 2020
September 2020 Announced Program [Member]
Share Repurchase Program [Abstract]
Stock repurchased authorized amount						$ 100
Amount remaining under authorization for purchase of additional shares	$ 31.7		$ 31.7
Share Repurchase Programs [Member]
Share Repurchase Program [Abstract]
Stock repurchased authorized amount					$ 100
Number of shares repurchased (in shares)	0	0	0	0