Document and Entity Information
Document and Entity Information Document - USD ($) | 12 Months Ended | |
Oct. 31, 2015 | Jan. 13, 2016 | |
DEI [Abstract] | ||
Entity Registrant Name | SHILOH INDUSTRIES INC | |
Entity Central Index Key | 904,979 | |
Current Fiscal Year End Date | --10-31 | |
Entity Filer Category | Accelerated Filer | |
Document Type | 10-K | |
Document Period End Date | Oct. 31, 2015 | |
Document Fiscal Year Focus | 2,015 | |
Document Fiscal Period Focus | FY | |
Amendment Flag | false | |
Entity Common Stock, Shares Outstanding | 17,338,623 | |
Entity Well-known Seasoned Issuer | No | |
Entity Voluntary Filers | No | |
Entity Current Reporting Status | Yes | |
Entity Public Float | $ 97,653,528 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Oct. 31, 2015 | Oct. 31, 2014 |
ASSETS | ||
Cash and cash equivalents | $ 13,100 | $ 12,014 |
Investment in marketable securities | 356 | 1,045 |
Accounts receivable, net | 194,373 | 171,242 |
Related-party accounts receivable | 1,092 | 533 |
Prepaid income taxes | 3,799 | 2,142 |
Inventory, Net | 58,179 | 61,843 |
Deferred income taxes | 2,837 | 3,496 |
Prepaid expenses | 48,267 | 41,447 |
Total current assets | 322,003 | 293,762 |
Property, plant and equipment, net | 280,260 | 274,828 |
Goodwill | 28,843 | 30,887 |
Intangible assets, net | 19,543 | 21,998 |
Deferred income taxes | 4,431 | 2,605 |
Other assets | 11,509 | 5,445 |
Total assets | 666,589 | 629,525 |
LIABILITIES AND STOCKHOLDERS’ EQUITY | ||
Current debt | 2,080 | 1,918 |
Accounts payable | 160,405 | 146,478 |
Other accrued expenses | 34,459 | 41,336 |
Total current liabilities | 196,944 | 189,732 |
Long-term debt | 298,873 | 268,102 |
Long-term benefit liabilities | 17,376 | 19,951 |
Deferred income taxes | 6,180 | 2,739 |
Interest rate swap agreement | 4,989 | 2,510 |
Other liabilities | 1,312 | 1,972 |
Total liabilities | $ 525,674 | $ 485,006 |
Commitments and contingencies | ||
Stockholders’ equity: | ||
Preferred stock, $.01 per share; 5,000,000 shares authorized; no shares issued and outstanding at October 31, 2015 and October 31, 2014, respectively | $ 0 | $ 0 |
Common stock, par value $.01 per share; 25,000,000 shares authorized; 17,309,623 and 17,214,284 shares issued and outstanding at October 31, 2015 and October 31, 2014, respectively | 173 | 172 |
Paid-in capital | 69,334 | 68,035 |
Retained earnings | 121,457 | 113,193 |
Accumulated other comprehensive loss, net | (50,049) | (36,881) |
Total stockholders’ equity | 140,915 | 144,519 |
Total liabilities and stockholders’ equity | $ 666,589 | $ 629,525 |
Consolidated Balance Sheets - P
Consolidated Balance Sheets - Parentheticals - USD ($) $ in Thousands | Oct. 31, 2015 | Oct. 31, 2014 |
Allowance for Doubtful Accounts Receivable, Current | $ 821 | $ 601 |
Common stock, par value | $ 0.01 | $ 0.01 |
Common stock, shares authorized | 25,000,000 | 25,000,000 |
Common stock, shares issued | 17,309,623 | 17,214,284 |
Common stock, shares outstanding | 17,309,623 | 17,214,284 |
Preferred stock, par value | $ 0.01 | $ 0.01 |
Preferred stock, shares authorized | 5,000,000 | 5,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | ||
Oct. 31, 2015 | Oct. 31, 2014 | Oct. 31, 2013 | |
Income Statement [Abstract] | |||
Revenue, Net | $ 1,109,195 | $ 878,744 | $ 700,186 |
Cost of sales | 1,022,109 | 799,143 | 633,034 |
Gross profit | 87,086 | 79,601 | 67,152 |
Selling, general and administrative expenses | 63,028 | 50,207 | 31,181 |
Amortization of intangible assets | 2,295 | 2,255 | 1,349 |
Asset impairment (recovery), net | 0 | (4,026) | 18 |
Operating income | 21,763 | 31,165 | 34,604 |
Interest expense | 9,898 | 4,503 | 2,600 |
Interest income | (36) | (25) | (32) |
Gain on bargain purchase | 0 | 0 | (228) |
Other (income) expense, net | 387 | (504) | 89 |
Income before income taxes | 11,514 | 27,191 | 32,175 |
Provision for income taxes | 3,250 | 4,747 | 10,605 |
Net income | $ 8,264 | $ 22,444 | $ 21,570 |
Earnings per share: | |||
Basic earnings per share | $ 0.48 | $ 1.31 | $ 1.27 |
Basic weighted average number of common shares | 17,287 | 17,145 | 16,982 |
Diluted earnings per share | $ 0.48 | $ 1.30 | $ 1.27 |
Diluted weighted average number of common shares | 17,310 | 17,215 | 17,030 |
Consolidated Statement of Other
Consolidated Statement of Other Comprehensive Income Statement - USD ($) $ in Thousands | 12 Months Ended | ||
Oct. 31, 2015 | Oct. 31, 2014 | Oct. 31, 2013 | |
Statement of Comprehensive Income [Abstract] | |||
Net income | $ 8,264 | $ 22,444 | $ 21,570 |
Recognized loss | 1,214 | 1,115 | 5,684 |
Actuarial net gain (loss) | 743 | (4,113) | 1,441 |
Asset net gain (loss) | (3,008) | 926 | 1,102 |
Income tax benefit (provision) | (387) | 783 | (2,998) |
Total defined benefit pension plans & other post retirement benefits, net of tax | (1,438) | (1,289) | 5,229 |
Unrealized gain (loss) on marketable securities | (689) | 518 | 0 |
Income tax benefit (provision) | 248 | (53) | 0 |
Reclassification adjustments for gain on marketable securities included in net income | 0 | (365) | 0 |
Total marketable securities, net of tax | (441) | 100 | 0 |
Unrealized loss on interest rate swap agreements | (2,912) | (2,510) | 0 |
Income tax benefit | 861 | 952 | 0 |
Reclassification adjustments for settlement of derivatives included in net income | 433 | 0 | 0 |
Change in fair value of derivative instruments, net of tax | (1,618) | (1,558) | 0 |
Unrealized loss on foreign currency translation | (9,671) | (8,052) | $ 0 |
Income taxes | 0 | 0 | |
Comprehensive income (loss), net | $ (4,904) | $ 11,645 | $ 26,799 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | ||
Oct. 31, 2015 | Oct. 31, 2014 | Oct. 31, 2013 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | |||
Net income | $ 8,264 | $ 22,444 | $ 21,570 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation and amortization | 34,213 | 27,893 | 20,878 |
Amortization of deferred financing costs | 992 | 807 | 338 |
Asset impairment (recovery), net | 0 | (4,026) | 18 |
Bargain purchase gain | 0 | 0 | (228) |
Deferred income taxes | 2,997 | 843 | 589 |
Stock-based compensation expense | 1,025 | 579 | 738 |
(Gain) loss on sale of assets | 274 | (806) | (1) |
Gain on sale of marketable securities | 0 | (365) | 0 |
Changes in operating assets and liabilities: | |||
Accounts receivable | (27,595) | (10,444) | (28,098) |
Inventories | 989 | 3,795 | 3,713 |
Prepaids and other assets | (9,553) | (9,542) | 3,559 |
Payables and other liabilities | (6,394) | 3,327 | 12,802 |
Accrued income taxes | (1,711) | (4,922) | 2,935 |
Net cash provided by operating activities | 3,501 | 29,583 | 38,813 |
CASH FLOWS FROM INVESTING ACTIVITIES: | |||
Capital expenditures | (39,504) | (40,158) | (27,441) |
Investment in marketable securities | 0 | (2,000) | 0 |
Acquisitions, net of cash acquired | 195 | (124,544) | (104,470) |
Proceeds from sale of assets | 11,480 | 5,762 | 518 |
Proceeds from Sale and Maturity of Marketable Securities | 0 | 967 | 0 |
Net cash used in investing activities | (27,829) | (159,973) | (131,393) |
CASH FLOWS FROM FINANCING ACTIVITIES: | |||
Payment of dividends | 0 | 0 | (4,246) |
Payment of capital leases | (821) | (382) | 0 |
Proceeds from long-term borrowings | 153,900 | 182,500 | 123,250 |
Repayments of long-term borrowings | (121,589) | (39,877) | (24,539) |
Payment of deferred financing costs | (5,529) | (776) | (1,963) |
Proceeds from exercise of stock options | 159 | 1,061 | 302 |
Net cash provided by financing activities | 26,120 | 142,526 | 92,804 |
Effect of Exchange Rate on Cash and Cash Equivalents | (706) | (520) | 0 |
Net increase in cash and cash equivalents | 1,086 | 11,616 | 224 |
Cash and cash equivalents at beginning of period | 12,014 | 398 | 174 |
Cash and cash equivalents at end of period | 13,100 | 12,014 | 398 |
Cash paid for interest | 9,373 | 3,862 | 2,237 |
Cash paid for income taxes | 1,770 | 7,995 | 7,111 |
Equipment acquired under capital lease | 0 | 7,639 | 0 |
Capital equipment included in accounts payable | $ 4,225 | $ 5,415 | $ 1,978 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands | Total | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Stockholders' Equity | $ 107,403 | $ 169 | $ 65,120 | $ 73,425 | $ (31,311) |
Net income | 21,570 | 0 | 0 | 21,570 | 0 |
Net current-period other comprehensive loss | 5,229 | 0 | 0 | 0 | 5,229 |
Exercise of stock options | 302 | 1 | 301 | 0 | 0 |
Payment of dividends | (4,246) | 0 | 0 | (4,246) | 0 |
Stock-based compensation cost | 738 | 0 | 738 | 0 | 0 |
Tax benefit on stock options | 153 | 0 | 153 | 0 | 0 |
Stockholders' Equity | 131,149 | 170 | 66,312 | 90,749 | (26,082) |
Net income | 22,444 | 0 | 0 | 22,444 | 0 |
Net current-period other comprehensive loss | (10,799) | 0 | 0 | 0 | (10,799) |
Exercise of stock options | 1,061 | 2 | 1,059 | 0 | 0 |
Stock-based compensation cost | 579 | 0 | 579 | 0 | 0 |
Tax benefit on stock options | 85 | 0 | 85 | 0 | 0 |
Stockholders' Equity | 144,519 | 172 | 68,035 | 113,193 | (36,881) |
Net income | 8,264 | 0 | 0 | 8,264 | 0 |
Net current-period other comprehensive loss | (13,168) | 0 | 0 | 0 | (13,168) |
Exercise of stock options | 159 | 1 | 158 | 0 | 0 |
Stock-based compensation cost | 1,025 | 0 | 1,025 | 0 | 0 |
Tax benefit on stock options | 116 | 0 | 116 | 0 | 0 |
Stockholders' Equity | $ 140,915 | $ 173 | $ 69,334 | $ 121,457 | $ (50,049) |
Basis of Presentation
Basis of Presentation | 12 Months Ended |
Oct. 31, 2015 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies [Text Block] | Summary of Significant Accounting Policies General The Company is a leading global supplier of lightweighting and NVH solutions to the automotive, commercial vehicle and industrial markets. The Company offers one of the broadest portfolio of lightweighting solutions to the automotive, commercial vehicle and industrial markets, capable of delivering solutions in aluminum, magnesium, steel and steel alloys. Shiloh delivers these solutions through the design and manufacturing of its BlankLight, ™ CastLight ™ and StampLight ™ brands. Shiloh delivers solutions in body, chassis and powertrain systems to original equipment manufacturers ("OEMs") and several "Tier 1" suppliers to the OEM's. The Company has twenty-eight wholly-owned subsidiaries at locations in Asia, Europe and North America as well as a 55% ownership of a joint venture in China with no operating activity for the fiscal year ended October 31, 2015 . MTD Holdings Inc. (the parent of MTD Products Inc.) and the MTD Products Inc. Master Employee Benefit Trust, a trust fund established and sponsored by MTD Products Inc. owned approximately 48.5% of the Company's outstanding shares of Common Stock as of October 31, 2015 , making MTD Holdings Inc. and MTD Products Inc. related parties of the Company. Principles of Consolidation The consolidated financial statements include the accounts of Shiloh Industries, Inc., all wholly-owned subsidiaries and the joint venture in China. All significant intercompany transactions have been eliminated. Revenue Recognition The Company recognizes revenue from the sales of products when there is evidence of a sales agreement, the delivery of goods has occurred, the sales price is fixed or determinable and collectability of revenue is reasonably assured. The Company records revenues upon shipment of product to customers and transfer of title under standard commercial terms. Price adjustments, including those arising from resolution of quality issues, price and quantity discrepancies, surcharges for fuel and/or steel and other commercial issues, are recognized in the period when management believes that such amounts become probable, based on management’s estimates. The Company enters into tooling contracts with customers in the development of molds, dies and tools (collectively, "tooling")to be sold to such customers. Revenue is recognized when the tooling is delivered and accepted by the customer. The Company also may progress bill for certain tooling being constructed for its customers. These billings are recorded as progress billings (a reduction of the associated tooling costs) until the appropriate revenue recognition criteria have been met. The tooling contracts are separate arrangements between the Company and customer and are recorded on a gross or net basis in accordance with current applicable revenue recognition accounting literature. Allowance for Doubtful Accounts The Company evaluates the collectability of accounts receivable based on several factors. In circumstances when the Company is aware of a specific customer’s inability to meet its financial obligations, a specific allowance for doubtful accounts is recorded against amounts due to reduce the net recognized receivable to the amount the Company reasonably believes will be collected. Additionally, a general allowance for doubtful accounts is estimated based on historical write-offs and the current financial condition of customers. The financial condition of the Company’s customers is dependent on, among other things, the general economic environment, which may substantially change. This variability may affect the recoverability of amounts due to the Company from its customers. The Company carefully assesses its risk with each of its customers and considers compliance with terms and conditions, aging of the customer accounts, intelligence learned through contact with customer representatives and its right of offset of net account receivable / account payable position with customers, if applicable, in establishing the allowance. Shipping and Handling Costs The Company classifies all amounts billed to a customer in a sales transaction related to shipping and handling as revenue and the costs incurred by the Company for shipping and handling are classified as costs of sales. Inventories Inventories are valued at the lower of cost or market, using the first-in first-out ("FIFO") method. Pre-production and development costs The Company enters into contractual agreements with certain customers to develop molds, dies and tools (collectively, "tooling"). All such tooling contracts relate to parts that the Company will supply to customers under supply agreements. Tooling costs are capitalized in prepaid expenses and other assets determined by the fact that tooling contracts are separate from standard production contracts. The classification in prepaid or other assets is based upon the period of reimbursement from customer as either short-term or long-term. Property, Plant and Equipment Property, plant and equipment are stated at cost or at fair market value for plant, property and equipment acquired through acquisitions. Expenditures for maintenance, repairs and renewals are charged to expense as incurred, while major improvements are capitalized. The cost of these improvements is depreciated over their estimated useful lives. Useful lives range from three to twelve years for furniture and fixtures and machinery and equipment, or if the assets are dedicated to a customer program, over the estimated life of that program, ten to twenty years for land improvements and twenty to forty years for buildings and their related improvements. Depreciation is computed using the straight-line method for financial reporting purposes and accelerated methods for income tax purposes. When assets are retired or otherwise disposed, the related cost and accumulated depreciation are removed from the accounts, and any gain or loss on the disposition is included in the earnings for the current period. Employee Benefit Plans The Company accrues the cost of U.S. defined benefit pension plans, which are frozen in accordance with Statement of Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") Topic 715 "Compensation - Retirement Benefits." The plans are funded based on the requirements and limitations of the Employee Retirement Income Security Act of 1974. As of October 31, 2015 , approximately 95% of employees of the Company participated in discretionary profit sharing plans administered by the Company. The Company also provides postretirement benefits to 16 former employees. Stock-Based Compensation The Company records compensation expense for the fair value of nonvested stock option awards and restricted stock awards over the remaining vesting period. The Company has elected to use the simplified method to calculate the expected term of the stock options outstanding at five to six years and has utilized historical weighted average volatility. The Company determines the volatility and risk-free rate assumptions used in computing the fair value using the Black-Scholes option-pricing model, in consultation with an outside third party. The expected term for the restricted stock award is between three months to four years. Income Taxes The Company utilizes the asset and liability method in accounting for income taxes. Income tax expense includes U.S. and foreign income taxes minus tax credits and other incentives that will reduce tax expense in the year they are claimed. Deferred taxes are recognized at currently enacted tax rates for temporary differences between the financial accounting and income tax basis of assets and liabilities and operating losses and tax credit carryforwards. Valuation allowances are recorded to reduce net deferred tax assets to the amount that is more likely than not to be realized. The Company assesses both positive and negative evidence when measuring the need for a valuation allowance. Evidence typically assessed includes the operating results for the most recent three-year period and, to a lesser extent because of inherent uncertainty, the expectations of future profitability, available tax planning strategies, the time period over which the temporary differences will reverse and taxable income in prior carryback years if carryback is permitted under the tax law. The calculation of the Company's tax liabilities also involves dealing with uncertainties in the application of complex tax laws and regulations in a multitude of jurisdictions across our global operations. The Company recognizes liabilities for uncertain income tax positions based on the Company's estimate of whether, and the extent to which, additional taxes will be required. The Company reports interest and penalties related to uncertain income tax positions as income taxes. U.S. income taxes and foreign withholding taxes are not provided on undistributed earnings of foreign subsidiaries because it is expected such earnings will be permanently reinvested in the operations of such subsidiaries or to pay down third party European debt. As of October 31, 2015 , there was approximately $3,384 of undistributed foreign subsidiary earnings. The income tax liability that would result had such earnings been repatriated is estimated at $1,184 . Impairment of Long-Lived and Intangible Assets The Company evaluates the recoverability of long-lived assets and the related estimated remaining lives whenever events or changes in circumstances indicate that the carrying value may not be recoverable. Events or changes in circumstances that could cause an impairment include significant underperformance relative to the historical or projected future operating results, significant changes in the manner of the use of the assets or the strategy for the overall business or significant negative industry or economic trends. The Company records an impairment or change in useful life whenever events or changes in circumstances indicate that the carrying amount of long-lived assets may not be recoverable or the useful life has changed. Goodwill. Goodwill, which represents the excess cost over the fair value of the net assets of businesses acquired, was $28,843 as of October 31, 2015 , or 4.3% of its total assets, and $30,887 as of October 31, 2014 , or 4.9% of its total assets. In accordance with Accounting Standards Codification ("ASC") 350, Intangibles-Goodwill and Other, the Company assesses goodwill for impairment on an annual basis. Such assessment can be done on a qualitative or quantitative basis. To qualitatively assess the likelihood of goodwill being impaired, the Company considers the following factors at the reporting unit level: the excess of fair value over carrying value as of the last impairment test, the length of time since the last fair value measurement, the carrying value, market and industry metrics, actual performance compared to forecasted performance, and its current outlook on the business. If the qualitative assessment indicated it is more likely than not that goodwill is impaired, the Company will perform quantitative impairment testing at the reporting unit level. To quantitatively test goodwill for impairment, the Company estimates the fair value and compares the fair value to the carrying value. If the carrying value exceeds the fair value, then a possible impairment of goodwill may exist and further evaluation is required. Fair values are based on the cash flow projected in the strategic plans and long-range planning forecasts, discounted at a risk-adjusted rate of return. Revenue growth rates included in the plans are generally based on industry specific data and known awarded business. The projected profit margin assumptions included in the plans are based on current cost structure and anticipated productivity improvements. If different assumptions were used in the plans, the related cash flows used in measuring fair value could be different and impairment of goodwill might be required to be recorded. Comprehensive Income (Loss) Comprehensive income (loss) is defined as net income (loss) less changes in stockholders' equity from non-owner sources which, for the Company in the periods presented, consists of foreign currency translations, interest rate swaps, marketable securities and pension related liability adjustments. Statement of Cash Flows Information Cash and cash equivalents include checking accounts and all highly liquid investments with an original maturity of three months or less. A substantial majority of the Company’s cash and cash equivalent bank balances exceeded federally insured limits at October 31, 2015 . Cash in foreign subsidiaries totaled $13,907 and $11,921 at October 31, 2015 and October 31, 2014 , respectively. Concentration of Risk The Company sells products to customers primarily in the automotive, commercial vehicle and industrial markets. Financial instruments, which potentially subject the Company to concentration of credit risk, are primarily accounts receivable. The Company performs on-going credit evaluations of its customers' financial condition. The allowance for non-collection of accounts receivable is based on the expected collectability of all accounts receivable. Losses have historically been within management's expectations. The Company does not have financial instruments with off-balance sheet risk. Refer to Note 19-Business Segment Information for discussion of concentration of revenues. The Company believes that the concentration of credit risk in its trade receivables is substantially mitigated by the Company's ongoing credit evaluation process and relatively short collection terms. The Company does not generally require collateral from customers. The Company establishes an allowance for doubtful accounts based upon factors surrounding the credit risk of specific customers, historical trends and other information. Fair Value of Financial Instruments The carrying amounts of cash and cash equivalents, trade receivables and payables approximate fair value because of the short maturity of those instruments. The carrying value of the Company's debt and derivative instruments are considered to approximate the fair value of these instruments based on the borrowing rates currently available to the Company for loans with similar terms and maturities. Derivative Financial Instruments The Company uses interest rate swaps to manage volatility of underlying exposures. The Company recognizes all of its derivative instruments as either assets or liabilities at fair value. The accounting for changes in the fair value (i.e., gains or losses) of a derivative instrument depends on whether it has been designated, and is effective, as a hedge and further, on the type of hedging relationship. For those derivative instruments that are designated and qualify as hedging instruments, a company must designate the instrument, based upon the exposure being hedged, as a fair value hedge, cash flow hedge or a hedge of a net investment in a foreign operation. Gains and losses related to a hedge are either recognized in income immediately to offset the gain or loss on the hedged item or are deferred and reported as a component of Comprehensive Income (Loss) and subsequently recognized in earnings when the hedged item affects earnings. The change in fair value of the ineffective portion of a hedging instrument, determined using the hypothetical derivative method, is recognized in earnings immediately. The gain or loss related to financial instruments that are not designated as hedges are recognized immediately in earnings. Cash flows related to hedging activities are included in the operating section of the consolidated statements of cash flows. The Company does not hold or issue derivative financial instruments for trading or speculative purposes. The Company’s objective for holding derivatives is to minimize risk using the most effective and cost-efficient methods available. Foreign Currency Translation Two of the Company's Mexican subsidiaries (Shiloh De Mexico S.A. DE C.V. and Shiloh International, S.A. DE C.V.), the Company's Netherlands and Swedish holding companies, and all the Company's U.S. subsidiaries have the U.S. dollar as their functional currency. For all other entities, the functional currency is their respective local currency. The translation from the applicable foreign currencies to U.S. dollars is performed for balance sheet accounts using exchange rates in effect at the balance sheet date and for revenue and expense accounts using a weighted average exchange rate for the period. The resulting translation adjustments are recorded as a component of Other Comprehensive Income ("OCI"). The Company engages in foreign currency denominated transactions with customers and suppliers, as well as between subsidiaries with different functional currencies. Gains and losses resulting from foreign currency transactions are recognized in net income (loss) in the consolidated statements of income. Guarantees The Company has certain indemnification clauses within its Credit Agreement (as defined below) and certain lease agreements that are considered to be guarantees within the scope of FASB ASC Topic 460, "Guarantees." The Company does not consider these guarantees to be probable, and the Company cannot estimate their maximum exposure. Additionally, the Company's exposure to warranty-related obligations is not material. Accounting Estimates The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. On an ongoing basis, management reviews its estimates based upon current available information. Actual results could differ from those estimates. Prior Year Reclassification Certain prior year amounts have been reclassified to conform with current year presentation. In the current year, the Company reclassified certain prior year amounts related to tooling from inventory to prepaid expenses to conform with the current year presentation. Such reclassification is reflected in the consolidated financial statements and the related notes thereto, and resulted in a reclassification of $29,460 from inventory to prepaid expenses as of October 31, 2014 . Other New Accounting Standards In January 2016, Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2016-01, "Recognition and Measurement of Financial Assets and Financial Liabilities." ASU 2016-01 requires equity investments to be measured at fair value with changes in fair value recognized in net income; simplifies the impairment assessment of equity investments without readily determinable fair values by requiring a qualitative assessment to identify impairment;Eliminates the requirement for public business entities to disclose the method(s) and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured at amortized cost on the balance sheet; requires public business entities to use the exit price notion when measuring the fair value of financial instruments for disclosure purposes; requires an entity to present separately in other comprehensive income the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk when the entity has elected to measure the liability at fair value in accordance with the fair value option for financial instruments; requires separate presentation of financial assets and financial liabilities by measurement category and form of financial assets on the balance sheet or the accompanying notes to the financial statements and clarifies that an entity should evaluate the need for a valuation allowance on a deferred tax asset related to available-for-sale securities in combination with the entity’s other deferred tax assets. ASU 2016-01 is effective for financial statements issued for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. The Company is currently evaluating the impact that ASU 2016-01 will have on its statement of financial position or financial statement disclosures. In November 2015, FASB issued ASU 2015-17, "Balance Sheet Classification of Deferred Taxes." ASU 2015-17 requires that deferred tax liabilities and assets be classified as noncurrent in a classified statement of financial position. ASU 2015-17 is effective for financial statements issued for fiscal years beginning after December 15, 2016, and interim periods within those fiscal years. The Company is currently evaluating the impact that ASU 2015-17 will have on its statement of financial position or financial statement disclosures. In September 2015, FASB issued Accounting Standards Update ("ASU") 2015-16, "Business Combinations." ASU 2015-16 simplifies the accounting for measurement-period adjustments by requiring adjustments to provisional amounts in a business combination to be recognized in the reporting period in which the adjustment amounts are determined and eliminates the requirement to retrospectively account for those adjustments. ASU 2015-16 requires an entity to present separately on the face of the income statement or disclose in the notes the amount recorded in current-period earnings that would have been recorded in previous reporting periods if the adjustment to the provisional amounts had been recognized as of the acquisition date. ASU 2015-16 is effective for financial statements issued for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. The Company does not expect ASU 2015-16 will have a material impact on its statement of financial position or financial statement disclosures. In July 2015, the FASB issued ASU 2015-11, "Inventory." ASU 2015-11 simplifies the measurement of inventory by requiring inventory to be measured at the lower of cost and net realizable value. ASU 2015-11 is effective for financial statements issued for fiscal years beginning after December 15, 2016, and interim periods within those fiscal years. The Company does not expect ASU 2015-11 will have a material impact on its statement of financial position or financial statement disclosures. In June 2015, the FASB issued ASU 2015-10, "Technical Corrections and Improvements." ASU 2015-10 amends a wide range of topics in the existing codification. ASU 2015-10 is effective for financial statements issued for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years, although early adoption is permitted, including adoption in an interim period. The Company does not expect ASU 2015-10 will have a material impact on its statement of financial position or financial statement disclosures. In April 2015, the FASB issued ASU 2015-03, "Interest - Imputation of Interest." ASU 2015-03 requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability. The recognition and measurement guidance for debt issuance costs are not affected by the amendments in the ASU. ASU 2015-03 was amended in June 2015 to note that there are no requirements in the presentation or subsequent measurement of the debt issuance costs associated with line-of-credit arrangements. ASU 2015-03 is effective for financial statements issued for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. The Company does not expect ASU 2015-03 will have a material impact on its statement of financial position or financial statement disclosures. In August 2014, the FASB issued ASU No 2014-15, "Presentation of Financial Statements—Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern," which the intent is to define the Company's responsibility to evaluate whether there is substantial doubt about an organization’s ability to continue as a going concern and to provide related footnote disclosures. This ASU will be effective for the Company November 1, 2017. The Company will prospectively apply the guidance as applicable and does not expect ASU 2014-15 to have a material impact on its statement of financial position or financial statement disclosures. In May 2014, the FASB issued ASU 2014-09, "Revenue from Contracts with Customers," which clarifies existing accounting literature relating to how and when a company recognizes revenue. Under ASU 2014-09, a company will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods and services. ASU 2014-09 will be effective for the Company November 1, 2017. The Company is in the process of determining what impact, if any, the adoption of this ASU will have on its financial position, results of operations and cash flows. In April 2014, the FASB issued ASU 2014-08, "Presentation of Financial Statements and Property, Plant, and Equipment — Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity,'' which revises what qualifies as a discontinued operation, changes the criteria for determining which disposals can be presented as discontinued operations and modifies related disclosure requirements. This ASU will be effective for the Company for applicable transactions occurring after October 1, 2015. The Company will prospectively apply the guidance to applicable transactions and does not expect ASU 2014-08 to have a material impact on its statement of financial position or financial statement disclosures. |
Acquisitions
Acquisitions | 12 Months Ended |
Oct. 31, 2015 | |
Business Combinations [Abstract] | |
Mergers, Acquisitions and Dispositions | Acquisitions Radar Industries, Inc. On September 30, 2014, the Company, through a wholly-owned subsidiary, consummated the transactions contemplated by the Asset Purchase Agreement, dated September 30, 2014 (the "Radar Agreement"), with Radar Industries, Inc., and Radar Mexican Investments, LLC (together "Radar"), which produce engineered metal stampings and machined parts for the motor vehicle industry. The Company acquired Radar to further its investment in stamping technologies and expand the diversity of its customer base, product offering and geographic footprint. Radar's results of operations are reflected in the Company's consolidated statements of income from the acquisition date. The aggregate fair value of consideration transferred in connection with the Radar Agreement was $57,874 ( $57,799 net of cash acquired) in cash on the date of acquisition. Of this amount, $6,500 in cash was placed into escrow, to serve as security for any indemnification claims made by the Company under the Radar Agreement. During July 2015, certain settlements occurred resulting in $1,296 in escrow funds being returned to the Company for indemnification of claims and $195 in escrow funds returned as a reduction in the final purchase price. To date, $2,759 in escrow funds have been released to Radar, leaving a remaining escrow balance of $2,250 at October 31, 2015 which is expected to be settled by September of 2016. The acquisition of Radar has been accounted for using the acquisition method in accordance with the FASB ASC Topic 805, "Business Combinations." Assets acquired and liabilities assumed were recorded at their estimated fair values as of the acquisition date. The fair values of identifiable intangible assets were based on valuations using the income approach and estimates provided by management. The excess of the purchase price over the estimated fair values of the tangible assets, identifiable intangible assets and assumed liabilities was recorded as goodwill. The allocation of the purchase price is based upon a valuation of certain assets acquired and liabilities assumed. The final price allocation was as follows: Cash and cash equivalents $ 75 Accounts receivable 14,136 Inventory 13,144 Prepaid assets and other 2,780 Property, plant and equipment 25,922 Goodwill 14,053 Intangible assets 6,380 Accounts payable and other (18,811 ) Net assets acquired $ 57,679 The Company utilized a third party to assist in the fair value determination of certain components of the purchase price allocation, namely inventory, property, plant and equipment and intangible assets. Changes in the final purchase price allocation, as compared to the preliminary purchase price allocation, were primarily a result of a decrease of $2,486 in inventory, an increase in prepaid assets and other assets of $2,685 and an increase in goodwill of $300 . The Company believes the amount of goodwill resulting from the purchase price allocation is attributable to the workforce of the acquired business (which is not eligible for separate recognition as an identifiable intangible asset) and the synergies expected after the Company's acquisition of Radar. All of the goodwill was allocated to a wholly owned subsidiary of the Company. The total amount of goodwill expected to be deductible for tax purposes is $30,648 and is estimated to be deductible over approximately 15 years through October, 2029. Of the $6,380 of acquired intangible assets, $4,000 was assigned to customers that have a useful life of 14 years , amortizable through September 2028, $2,300 was assigned to developed technologies with an useful life of 10 years , amortizable through September 2024 and $80 was assigned to a non-compete agreement with an useful life of 5 years , amortizable through September 2019. The Company utilized a third party to assist in assigning a fair value to acquired assets. The total amount of identifiable intangible assets expected to be deductible for tax purposes is $6,380 and is deductible over 15 years through September 2029. Finnveden Metal Structures On June 30, 2014, Shiloh Holdings Sweden AB, a wholly-owned subsidiary of the Company, entered into and consummated the transactions contemplated by the Share Sale and Purchase Agreement, dated May 21, 2014, (The "FMS Agreement") with FinnvedenBulten AB and Finnveden AB ("Finnveden"), a wholly-owned subsidiary of FinnvedenBulten AB, a producer of aluminum and steel stampings and magnesium die cast and machined parts for the motor vehicle industry. The Company acquired Finnveden in order to expand its stamping capabilities while adding magnesium die casting to its product line, a key growth segment, and technology being used to address the lightweighting needs of automakers. Additionally, the Finnveden acquisition adds strategic European locations in Sweden and Poland while diversifying its customer base. Finnveden's results of operations are reflected in the Company's consolidated statements of income from the acquisition date. The aggregate fair value of consideration transferred in connection with the FMS Agreement was $72,618 , ( $66,396 net of cash acquired), in cash on the date of acquisition. The acquisition of Finnveden has been accounted for using the acquisition method in accordance with FASB ASC Topic 805, "Business Combinations." Assets acquired and liabilities assumed were recorded at their estimated fair values as of the acquisition date. The fair values of identifiable intangible assets were based on valuations using the income approach and estimates provided by management. The excess of the purchase price over the estimated fair values of the tangible assets, identifiable intangible assets and assumed liabilities were recorded as goodwill. The allocation of the purchase price is based upon a valuation of certain assets acquired and liabilities assumed. The final purchase price allocation was as follows: Cash and cash equivalents $ 6,222 Accounts receivable 29,744 Inventory 18,711 Prepaid expenses 11,828 Property, plant and equipment 37,474 Goodwill 6,681 Intangible assets 136 Other non-current assets 3,676 Accounts payable and other (36,416 ) Long term liabilities (5,438 ) Net assets acquired $ 72,618 The Company utilized a third party to assist in the fair value determination of certain components of the purchase price allocation, namely inventory, property, plant and equipment and intangible assets. Changes in the final purchase price allocation, as compared to the preliminary purchase price allocation, were primarily a result of a decrease in inventory of $8,147 , an increase in prepaid expenses of $8,147 and an increase of $2,006 in property, plant and equipment. Goodwill and intangible assets decreased $1,123 and $1,000 , respectively. The Company believes the amount of goodwill resulting from the purchase price allocation is attributable to the workforce of the acquired business (which is not eligible for separate recognition as an identifiable intangible asset) and the expected synergies after the Company's acquisition of Finnveden. All of the goodwill was allocated to a wholly owned subsidiary of the Company. The Company does not expect that the amount of goodwill will be deductible for tax purposes under current Polish or Swedish tax law. The $136 of acquired intangible assets was assigned to customers that have a useful life of 10 years , amortized through June 2024. The fair value assigned to identifiable intangible assets acquired have been determined primarily by using the income approach, which discounts expected future cash flows to present value using estimates and assumptions determined by management. The Company utilized a third party to assist in assigning a fair value to acquired intangible assets. The Company does not expect that the total amount of identifiable intangible assets will be deductible for tax purposes under current Polish or Swedish tax law. Prior Year Acquisitions On June 11, 2013, a wholly-owned subsidiary of the Company entered into an Asset Purchase Agreement with Contech Castings, LLC and its subsidiary Contech Casting Real Estate Holdings, LLC (together "Contech"). Under the terms of the Agreement, the Company acquired certain assets and assumed certain specified liabilities for $42,536 , which consisted of $42,187 in cash on the date of the acquisition after adjustments in working capital, certain assumed liabilities and amounts of capital expenditures. The acquisition closed on August 2, 2013. On December 13, 2012, the Company acquired certain assets of Atlantic Tool & Die - Alabama, Inc. ("Anniston") for $6,347 . The results of operations for Anniston are included in the Company's consolidated financial statements from the date of acquisition. On December 28, 2012, the Company acquired Pleasant Prairie ("Albany-Chicago") for aggregate fair value consideration transferred of $55,935 after considering working capital adjustments. Pleasant Prairie's results of operations are reflected in the Company's consolidated statements of income from the acquisition date. Acquisition Related Costs In fiscal years 2015 , 2014 , and 2013 , the Company expensed approximately $433 , $3,450 and $1,300 , respectively, of acquisition related costs. |
Asset Impairment and Restructur
Asset Impairment and Restructuring Charges | 12 Months Ended |
Oct. 31, 2015 | |
Restructuring and Related Activities [Abstract] | |
Asset Impairment and Restructuring Charges | —Asset Impairment and Restructuring Charges Asset recoveries of $4,026 were recorded during fiscal 2014 for cash received upon sales of assets from the Company's former Mansfield Blanking facility, which was impaired in fiscal 2010. Impairment charges, net of $18 were recorded during fiscal 2013. Asset recoveries of $96 were recorded during fiscal 2013 for cash received upon sales of assets from the Company's Mansfield Blanking facility, which was impaired in fiscal 2010. Impairment recoveries of $369 were recorded during fiscal 2013 for cash received upon sales of assets from the Company's Liverpool Stamping facility, which was impaired in fiscal 2009. During fiscal 2013, the Company recorded an asset impairment charge of $483 to reduce the real property of the Company's Anniston facility to a fair value based on an independent assessment that considered recent sales of similar properties, changes in market conditions and an income based valuation approach. |
Accounts Receivable
Accounts Receivable | 12 Months Ended |
Oct. 31, 2015 | |
Accounts Receivable [Abstract] | |
Accounts Receivable [Text Block] | —Accounts Receivable Accounts receivable are expected to be collected within one year and are net of an allowance for doubtful accounts in the amount of $821 and $601 at October 31, 2015 and 2014 , respectively. The Company recognized net bad debt expense of $210 , $153 and $98 during fiscal 2015 , 2014 , and 2013 , respectively, in the consolidated statements of income. The Company continually monitors its exposure with its customers and additional consideration is given to individual accounts in light of the market conditions in the automotive industry. |
Inventories
Inventories | 12 Months Ended |
Oct. 31, 2015 | |
Inventory Disclosure [Abstract] | |
Inventories [Text Block] | Inventories Inventories consist of the following: October 31, 2015 2014 Raw materials $ 31,864 $ 36,417 Work-in-process 10,994 12,044 Finished goods 15,321 13,382 Total inventories $ 58,179 $ 61,843 Total cost of inventory is net of lower of cost of market reserves to reduce certain inventory from cost to net realizable value. Such reserves aggregated $2,347 and $2,051 at October 31, 2015 and 2014 , respectively. Refer to Note 1 - Prior Year Reclassifications regarding the reclassification of certain prior year amounts related to tooling from inventory to prepaid expenses. |
Prepaid Expenses Prepaid Expens
Prepaid Expenses Prepaid Expenses | 12 Months Ended |
Oct. 31, 2015 | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | |
Other Current Assets [Text Block] | Prepaid expenses consist of the following: October 31, 2015 2014 Tooling $ 40,658 $ 35,281 Prepaid other 7,609 6,166 Total $ 48,267 $ 41,447 Customer reimbursed tooling is for tooling related to new program awards that go into production over the next two years. Refer to Note 1 - Prior Year Reclassifications regarding the reclassification of certain prior year amounts related to tooling from inventory to prepaid expenses. —Other Assets October 31, 2015 2014 Other assets consist of the following: Deferred financing costs, net $ 6,818 $ 2,280 Tooling 1,499 2,642 Other 3,192 523 Total $ 11,509 $ 5,445 Deferred financing costs are amortized over the term of the debt. During fiscal 2015 , 2014 , and 2013 , amortization of these costs amounted to $992 , $807 , and $338 , respectively. Accumulated amortization was $4,266 and $3,274 as of October 31, 2015 and 2014 , respectively. During 2015 , the Company capitalized $5,529 of costs related to the Credit Agreement (as defined above). |
Other Assets
Other Assets | 12 Months Ended |
Oct. 31, 2015 | |
Deferred Costs and Other Assets Disclosure [Abstract] | |
Other Assets [Text Block] | Prepaid expenses consist of the following: October 31, 2015 2014 Tooling $ 40,658 $ 35,281 Prepaid other 7,609 6,166 Total $ 48,267 $ 41,447 Customer reimbursed tooling is for tooling related to new program awards that go into production over the next two years. Refer to Note 1 - Prior Year Reclassifications regarding the reclassification of certain prior year amounts related to tooling from inventory to prepaid expenses. —Other Assets October 31, 2015 2014 Other assets consist of the following: Deferred financing costs, net $ 6,818 $ 2,280 Tooling 1,499 2,642 Other 3,192 523 Total $ 11,509 $ 5,445 Deferred financing costs are amortized over the term of the debt. During fiscal 2015 , 2014 , and 2013 , amortization of these costs amounted to $992 , $807 , and $338 , respectively. Accumulated amortization was $4,266 and $3,274 as of October 31, 2015 and 2014 , respectively. During 2015 , the Company capitalized $5,529 of costs related to the Credit Agreement (as defined above). |
Property, Plant and Equipment
Property, Plant and Equipment | 12 Months Ended |
Oct. 31, 2015 | |
Property, Plant and Equipment [Abstract] | |
Property, Plant and Equipment [Text Block] | Property, Plant and Equipment Property, plant and equipment consist of the following: October 31, 2015 2014 Land and improvements 11,330 11,452 Buildings and improvements 118,166 117,776 Machinery and equipment 495,481 455,482 Furniture and fixtures 13,901 11,161 Construction in progress 51,252 52,345 Total, at cost 690,130 648,216 Less: Accumulated depreciation 409,870 373,388 Property, plant and equipment, net $ 280,260 $ 274,828 Depreciation expense was $31,918 , $25,638 , and $20,878 in fiscal 2015 , 2014 , and 2013 , respectively. During the years ended October 31, 2015 and 2014 , interest capitalized as part of property, plant and equipment was $526 and $272 , respectively. The Company had unpaid capital expenditures included in accounts payable of approximately $4,225 and $5,415 at October 31, 2015 and 2014 , respectively, and consequently such amounts are excluded from capital expenditures in the accompanying consolidated statements of cash flows for the fiscal years 2015 and 2014 . The Company has commitments for capital expenditures of $16,600 at October 31, 2015 that are expected to be incurred in 2016 . Capital Leases: October 31, 2015 2014 Leased Property: Machinery and equipment $ 7,019 $ 7,639 Less: Accumulated depreciation $ 1,142 $ 367 Leased property, net $ 5,877 $ 7,272 Future minimum rental payments to be made under capital leases at October 31, 2015 are as follows: Twelve Months Ending October 31, 2016 856 2017 872 2018 888 2019 617 2020 393 Thereafter 1,808 5,434 Plus amount representing interest ranging from 3.05% to 3.77% 679 Total obligations under capital leases $ 6,113 |
Financing Arrangements
Financing Arrangements | 12 Months Ended |
Oct. 31, 2015 | |
Debt Disclosure [Abstract] | |
Financing Arrangements | —Financing Arrangements Debt consists of the following: October 31, 2015 2014 Credit Agreement —interest at 4.44% and 2.15% at October 31, 2015 and October 31, 2014, respectively $ 293,300 $ 260,500 Equipment security note 1,496 1,985 Capital lease obligations 5,434 6,967 Insurance broker financing agreement 723 568 Total debt 300,953 270,020 Less: Current debt 2,080 1,918 Total long-term debt $ 298,873 $ 268,102 At October 31, 2015 , the Company had total debt, excluding capital leases, of $295,519 , consisting of a revolving line of credit under the Credit Agreement of floating rate debt of $293,300 and fixed rate debt of $2,219 . The weighted average interest rate of all debt was 2.82% and 2.08% for fiscal years 2015 and 2014 , respectively. The Company and its subsidiaries are party to a Credit Agreement, dated October 25, 2013 (the "Credit Agreement"), with Bank of America, N.A., as Administrative Agent, Swing Line Lender, Dutch Swing Line Lender and L/C Issuer, JPMorgan Chase Bank, N.A. as Syndication Agent, Merrill Lynch, Pierce, Fenner & Smith Incorporated and J.P. Morgan Securities, LLC as Joint Lead Arrangers and Joint Book Managers, The PrivateBank and Trust Company, Compass Bank and Citizens Bank, N.A., as Co-Documentation Agents, and the other lender parties thereto. On October 30, 2015, the Company executed a Fifth Amendment (the "Fifth Amendment") to the Credit Agreement that increases the permitted leverage ratio with periodic reductions beginning after July 30, 2016. In addition, the Fifth Amendment reduces various cumulative baskets, provides a new basket for certain investments in China, and permits the Company to issue up to $40,000 aggregate outstanding principal amount of subordinated indebtedness, subject to certain conditions. Finally, the Fifth Amendment provides for a consolidated fixed charge coverage ratio, and provides for up to $50,000 of capital expenditures by the Company and its subsidiaries throughout the year ending October 31, 2016, subject to certain quarterly baskets. On April 29, 2015, the Company executed a Fourth Amendment to the Credit Agreement that allows for an incremental increase of $25,000 (or if certain ratios are met, $100,000 ) in the existing revolving commitments of $360,000 , subject to the Company's pro forma compliance with financial covenants, the administrative agent's approval, and the Company obtaining commitments for such increase. The Fourth Amendment includes scheduled commitment reductions beginning after January 30, 2016 as well as scheduled commitment reductions totaling $30,000 , allocated proportionately between the Aggregate Revolving A and B commitments. Borrowings under the Credit Agreement bear interest, at the Company's option, at LIBOR or the base (or "prime") rate established from time to time by the administrative agent, in each case plus an applicable margin. The Fifth Amendment provides for an interest rate margin on LIBOR loans of 1.5% to 4.0% and on base rate loans of 0.50% to 3.0% , depending on the Company's leverage ratio. The Credit Agreement contains customary restrictive and financial covenants, including covenants regarding the Company’s outstanding indebtedness and maximum leverage and interest coverage ratios. The Credit Agreement also contains standard provisions relating to conditions of borrowing. In addition, the Credit Agreement contains customary events of default, including the non-payment of obligations by the Company and the bankruptcy of the Company. If an event of default occurs, all amounts outstanding under the Credit Agreement may be accelerated and become immediately due and payable. The Company was in compliance with the financial covenants as of October 31, 2015 and October 31, 2014 . After considering letters of credit of $4,230 that the Company has issued, unused commitments under the Credit Agreement was $62,470 at October 31, 2015 . Borrowings under the Agreement are collateralized by a first priority security interest in substantially all of the tangible and intangible property of the Company and its domestic subsidiaries and 65% of the stock of foreign subsidiaries. Other Debt: On August 3, 2015 , the Company entered into a finance agreement with an insurance broker for various insurance policies that bears interest at a fixed rate of 1.95% and requires monthly payments of $104 through May 2016 . As of October 31, 2015 , $723 of principal remained outstanding under this agreement and was classified as current debt in the Company’s consolidated balance sheets. On September 2, 2013, the Company entered into an equipment security note that bears interest at a fixed rate of 2.47% and requires monthly payments of $44 through September 2018. As of October 31, 2015 , $1,496 of principal remained outstanding under this agreement and $501 was classified as current debt and $995 was classified as long term debt in the Company’s consolidated balance sheets. The Company maintains capital leases for equipment used in its manufacturing facilities with lease terms expiring between 2018 and 2021. As of October 31, 2015 , the present value of minimum lease payments under its capital leases amounted to $5,434 . Derivatives: On February 25, 2014, the Company entered into an interest rate swap with an aggregate notional amount of $75,000 designated as a cash flow hedge to manage interest rate exposure on the Company’s floating rate LIBOR based debt under the Credit Agreement. The interest rate swap is an agreement to exchange payment streams based on the notional principal amount. This agreement fixes the Company’s future interest payments at 2.74% plus the applicable rate (as described above), on an amount of the Company’s debt principal equal to the then-outstanding swap notional amount. The forward interest rate swap commenced on March 1, 2015 with an initial $25,000 base notional amount. The second notional amount of $25,000 commenced on September 1, 2015 with the final notional amount to commence on March 1, 2016. The base notional amount plus each incremental addition to the base notional amount have a five year maturity of February 29, 2020, August 31, 2020 and February 28, 2021, respectively. On the date the interest swap was entered into, the Company designated the interest rate swap as a hedge of the variability of cash flows to be paid relative to its variable rate monies borrowed. Any ineffectiveness in the hedging relationship is recognized immediately into earnings. The Company determined the mark-to-market adjustment for the interest rate swap to be a loss of $1,618 , net of tax, for the fiscal year ended October 31, 2015 and $1,558 , net of tax, for the fiscal year ended October 31, 2014 , which is reflected in other comprehensive loss. The first and second base notional amounts of $25,000 each or $50,000 total that commenced during 2015 resulted in realized losses of $433 of interest expense related to the interest rate swap settlements. Scheduled repayments under the terms of the Credit Agreement and repayments of other debt are listed below: Twelve Months Ending October 31, Credit Agreement Equipment Security Note Capital Lease Obligations Other Debt Total 2016 $ — $ 501 $ 856 $ 723 $ 2,080 2017 — 513 872 — 1,385 2018 — 482 888 — 1,370 2019 293,300 — 617 — 293,917 2020 — — 393 — 393 Thereafter — — 1,808 — 1,808 Total $ 293,300 $ 1,496 $ 5,434 $ 723 $ 300,953 |
Goodwill and Intangible Assets
Goodwill and Intangible Assets | 12 Months Ended |
Oct. 31, 2015 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Intangible Assets [Text Block] | Intangible Assets Goodwill: In accordance with FASB ASC Topic 350, "Intangibles – Goodwill and Other," goodwill, and any other intangible asset having an indefinite useful life, must be reviewed for impairment annually, or more frequently if events and circumstances arise that suggest the asset may be impaired. The Company conducts its review for goodwill impairments on September 30 of each year. Goodwill impairment testing is performed at the reporting unit. The fair value is determined and compared to the carrying value. If the carrying value exceeds the fair value, then possible goodwill impairment may exist and further evaluation is required. At the time of goodwill impairment testing, values are estimated for goodwill, incorporating discount rates commensurate with the risks involved. An optional qualitative assessment may alleviate the need to perform the quantitative goodwill impairment test when impairment is unlikely. The Company performed a quantitative assessment at the reporting unit level in 2015 and 2014 and concluded that there was no impairment of goodwill in either year. The changes in the carrying amount of goodwill are as follows: Balance October 31, 2013 $ 6,768 Acquisitions 24,887 Foreign currency translation and other (768 ) Balance October 31, 2014 30,887 Acquisitions, including adjustments on prior year acquisitions (488 ) Foreign currency translation and other (1,556 ) Balance October 31, 2015 $ 28,843 Intangibles: The changes in the carrying amount of finite intangible assets for the years ended October 31, 2015 and 2014 are as follows: Customer Relationships Developed Technology Non-Compete Trade Name Trademark Total Balance October 31, 2013 $ 12,691 $ 2,571 $ 434 $ 1,747 $ 162 $ 17,605 Acquisitions and purchase accounting adjustments 4,456 2,300 — — — 6,756 Amortization expense (1,183 ) (560 ) (372 ) (123 ) (17 ) (2,255 ) Foreign currency translation and other (108 ) — — — — (108 ) Balance October 31, 2014 15,856 4,311 62 1,624 145 21,998 Acquisitions and purchase accounting adjustments (320 ) — 80 — — (240 ) Amortization expense (1,305 ) (771 ) (79 ) (124 ) (16 ) (2,295 ) Foreign currency translation and other 80 — — — — 80 Balance October 31, 2015 $ 14,311 $ 3,540 $ 63 $ 1,500 $ 129 $ 19,543 Intangible assets are amortized on the straight-line method over their legal or estimated useful lives. The following summarizes the gross carrying value and accumulated amortization for each major class of intangible assets: October 31, 2015 Weighted Average Useful Life (years) Gross Carrying Value Accumulated Amortization Foreign Currency Adjustment Net Customer relationships 13.2 $ 17,598 $ (3,259 ) $ (28 ) $ 14,311 Developed technology 7.3 5,007 (1,467 ) — 3,540 Non-compete 2.3 824 (761 ) — 63 Trade name 14.8 1,875 (375 ) — 1,500 Trademark 10.0 166 (37 ) — 129 Total intangible assets $ 25,470 $ (5,899 ) $ (28 ) $ 19,543 October 31, 2014 Gross Carrying Value Accumulated Amortization Foreign Currency Adjustment Net Customer relationships $ 17,918 $ (1,954 ) $ (108 ) $ 15,856 Developed technology 5,007 (696 ) — 4,311 Non-compete 744 (682 ) — 62 Trade name 1,875 (251 ) — 1,624 Trademark 166 (21 ) — 145 Total intangible assets $ 25,710 $ (3,604 ) $ (108 ) $ 21,998 Total amortization expense for the years ended October 31, 2015 , 2014 , and 2013 was $2,295 , $2,255 , and $1,349 , respectively. Amortization expense related to intangible assets for the following fiscal years ending is estimated to be as follows: 2016 2,262 2017 2,262 2018 2,127 2019 1,719 2020 1,705 Thereafter 9,468 $ 19,543 |
Operating Leases
Operating Leases | 12 Months Ended |
Oct. 31, 2015 | |
Operating Leases [Abstract] | |
Operating Leases [Text Block] | Operating Leases The Company leases buildings, material handling, manufacturing and office equipment under operating leases with terms that range from one to fifteen years at inception. The leases do not include step rent provisions, escalation clauses, capital improvement funding or other lease concessions that qualify the leases as a contingent rental. Also, the leases do not include a variable related to a published index. The Company's operating leases are charged to expense over the lease term, on a straight-line basis. The longest lease term of the Company's current leases extends to May 2029 . Rent expense under operating leases for fiscal years 2015 , 2014 , and 2013 was $8,449 , $4,613 and $2,203 , respectively. Future minimum lease payments under operating leases are as follows at October 31, 2015 : 2016 $ 9,580 2017 8,915 2018 7,926 2019 6,906 2020 5,961 Thereafter 6,216 Total commitments under non-cancelable operating leases $ 45,504 |
Pension and Other Postretiremen
Pension and Other Postretirement Benefits Disclosure | 12 Months Ended |
Oct. 31, 2015 | |
Employee Benefit Plans [Abstract] | |
Employee Benefit Plans [Text Block] | Employee Benefit Plans The Company maintains pension plans, which are frozen, covering its eligible employees. The Company also provides an unfunded postretirement health care benefit plan for 16 retirees and their dependents. The measurement date for the Company's employee benefit plans coincides with its fiscal year end, October 31. Obligations and Funded Status U.S. Plans At October 31 Pension Benefits Other Post Retirement Benefits 2015 2014 2015 2014 Change in benefit obligation: Benefit obligation at beginning of year $ (88,590 ) $ (85,128 ) $ (639 ) $ (894 ) Interest cost (3,466 ) (3,749 ) (24 ) (38 ) Actuarial gain (loss) 563 (4,388 ) 180 277 Benefits paid 4,666 4,675 60 16 Benefit obligation at end of year (86,827 ) (88,590 ) (423 ) (639 ) Change in plan assets: Fair value of plan assets at beginning of year 65,861 60,956 — — Actual return on plan assets 1,690 5,206 — — Employer contributions 3,770 4,374 60 16 Benefits paid (4,666 ) (4,675 ) (60 ) (16 ) Fair value of plan assets at end of year 66,655 65,861 — — Funded status, benefit obligations in excess of plan assets $ (20,172 ) $ (22,729 ) $ (423 ) $ (639 ) The above amounts are recorded in the liabilities section of the consolidated balance sheets as follows: Pension Benefits Other Post Retirement Benefits 2015 2014 2015 2014 Other accrued expenses $ (3,840 ) $ (3,910 ) $ (63 ) $ (62 ) Long-term benefit liabilities (16,332 ) (18,819 ) (360 ) (577 ) Total $ (20,172 ) $ (22,729 ) $ (423 ) $ (639 ) Components of Net Periodic Benefit Cost U.S. Plans Pension Benefits Other Post Retirement Benefits 2015 2014 2013 2015 2014 2013 Interest cost $ 3,466 $ 3,749 $ 3,260 $ 24 $ 38 $ 34 Expected return on plan assets (4,698 ) (4,281 ) (3,735 ) — — — Settlement — — 1,102 — — — Amortization of net actuarial loss 1,186 1,074 1,392 28 41 48 Net periodic benefit cost $ (46 ) $ 542 $ 2,019 $ 52 $ 79 $ 82 As part of a strategy to remove liability risk and reduce payments to the Pension Benefit Guaranty Corporation, the Company elected to allow lump sum distributions from the defined benefit pension plans, of which approximately 200 former employees elected and received distributions during fiscal 2013, removing $2,271 in liability from the plan. The FASB requires a special accounting charge for settling pension obligations in this manner. During fiscal year 2013, the Company incurred $1,102 in expense for this settlement charge. The Company expects to recognize in the consolidated statements of income the following amounts that will be amortized from accumulated other comprehensive loss in fiscal 2016 . Pension Benefits Other Post Retirement Benefits Amortization of net actuarial loss $ 1,239 $ 12 The Company has recognized the following cumulative pre-tax actuarial losses, prior service costs and transition obligations in accumulated other comprehensive income: Pension Benefits Other Post Retirement Benefits 2015 2014 2015 2014 Net actuarial loss $ 44,928 $ 43,669 $ 153 $ 361 Recognized in accumulated other comprehensive income $ 44,928 $ 43,669 $ 153 $ 361 Additional Information on U.S. Plans Pension Benefits Other Post Retirement Benefits 2015 2014 2015 2014 Increase (decrease) in minimum liability included in other comprehensive income (loss) $ (1,259 ) $ (2,390 ) $ 208 $ 318 Assumptions for U.S. Plans: Weighted-average assumptions used to determine benefit obligations at October 31 Pension Benefits Other Post Retirement Benefits 2015 2014 2013 2015 2014 2013 Discount rate 4.20 % 4.00 % 4.50 % 4.20 % 4.00 % 4.50 % Pension Benefits Other Post Retirement Benefits Weighted-average assumptions used to determine net periodic benefit costs for years ended October 31 2015 2014 2013 2015 2014 2013 Discount rate 4.00 % 4.50 % 3.75 % 4.00 % 4.50 % 3.75 % Expected long-term return on plan assets 7.50 % 7.50 % 7.50 % — — — These assumptions are used to develop the projected obligation at fiscal year end and to develop net periodic benefit cost for the subsequent fiscal year. Therefore, for fiscal 2015 , the assumptions used to determine net periodic benefit costs were established at October 31, 2014 , while the assumptions used to determine the benefit obligations were established at October 31, 2015 The Company uses the Principal Pension Discount Yield Curve ("Principal Curve") for the U.S. Plans as the basis for determining the discount rate for reporting pension and retiree medical liabilities. The Principal Curve has several advantages to other methods, including: transparency of construction, lower statistical errors, and continuous forward rates for all years. At October 31, 2015 the discount rate from the use of the Principal Curve was 4.20% , an increase of 0.20% from a year ago that resulted in a decrease of the benefit obligation of approximately $215 . The Company determines the annual rate of return on the U.S. Plan pension assets by first analyzing the composition of its asset portfolio. Historical rates of return are applied to the portfolio. The Company's outside investment advisors and actuaries review the computed rate of return. Industry comparables and other outside guidance are also considered in the annual selection of the expected rates of return on pension assets. The long-term expected rate of return on plan assets takes into account years with exceptional gains and years with exceptional losses. October 31, Assumed health care trend rates 2015 2014 Health care cost trend rate assumed for next year 7.0% 7.0% Rate to which the cost trend rate is assumed to decline (the ultimate trend rate) 6.8% 6.5% Year that the rate reaches the ultimate trend rate 2018 2015 Assumed healthcare cost trend rates have a significant effect on the amounts reported for the healthcare plan. The Company's trend rate was based on reduced health care claims experienced by a small and declining retiree population. A one-percentage point change in assumed healthcare cost trend rates would have the following effects at October 31, 2015 : One-Percentage Point Increase One-Percentage Point Decrease Effect on total of service and interest cost components $ 4 $ (3 ) Effect on post retirement obligation $ 30 $ (27 ) Plan Assets - U.S. Plan Assets The Company has established a targeted asset allocation percentage by asset category and rebalances the assets of each U.S. plan when pension contributions are funded. The Company's pension plan weighted-average asset allocations at October 31, 2015 and 2014 , by asset category and comparison to the target allocation percentage are as follows: Target Allocation Percentage Plan Assets at October 31, 2015 2014 Asset Category Equity securities 0-70% 60% 59% Debt securities 0-70% 34% 35% Real estate 0-10% 6% 6% Total 100% 100% The Company's investment policy for assets of the U.S. plans is to obtain a reasonable long-term return consistent with the level of risk assumed. The Company also seeks to control the cost of funding the plans within prudent levels of risk through the investment of plan assets and the Company seeks to provide diversification of assets in an effort to avoid the risk of large losses and to maximize the return to the plans consistent with market and economic risk. Fair Value The plans' investments are reported at fair value. Purchases and sale of securities are recorded on a trade-date basis. Dividends are recorded on the ex-dividend date. FASB ASC Topic 820, Fair Value Measurements and Disclosures ("FASB ASC 820"), clarifies that fair value is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based upon assumptions that market participants would use in pricing an asset or liability. As a basis for considering such assumptions, FASB ASC 820 establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows: Level 1 : Quoted prices (unadjusted) for identical assets or liabilities in active markets that the plans have the ability to access as of the measurement date. Level 2 : Significant other observable inputs other than level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. Level 3 : Significant unobservable inputs that reflect the plans' own assumptions about the assumptions that market participants would use in pricing an asset or liability. An asset’s or liability’s fair value measurement level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. Valuation techniques used need to maximize the use of observable inputs and minimize the use of unobservable inputs. Assets and liabilities measured at fair value are based on one or more of the following three valuation techniques noted in FASB ASC 820: • Market approach: Prices and other relevant information generated by market transactions involving identical or comparable assets or liabilities. • Cost approach: Amount that would be required to replace the service capacity of an asset (replacement cost). • Income approach: Techniques to convert future amounts to a single present amount based upon market expectations (including present value techniques, option-pricing and excess earnings models). The following descriptions of the valuation methods and assumptions used by the plans to estimate the fair values of investments apply to investments held directly by the plans. Mutual funds : The fair values of mutual fund investments are determined by obtaining quoted prices on nationally recognized securities exchanges (level 1 inputs). Pooled separate accounts : The fair values of participation units held in pooled separate accounts are based on their net asset values, as reported by the managers of the pooled separate accounts as supported by the unit prices of actual purchase and sale transactions occurring as of or close to the financial statement date (level 2 inputs). A fund sponsored by Principal Financial Group, investment and actuarial advisors of the Company, each of the pooled separate accounts invests in multiple securities. Each pooled separate account provides for daily redemptions by the plans with no advance notice requirements, and has redemption prices that are determined by the fund's net asset value per unit. The methods described above may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. Furthermore, while the Company believes its valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date. Investments totaling $66,655 at October 31, 2015 and $65,861 at October 31, 2014 measured at fair value on a recurring basis are summarized below: Fair Value Measurements Fair Value Measurements at October 31, 2015 Using at October 31, 2014 Using Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) U.S. Plans Valuation Technique Investments Equity Large U.S. Equity $ 9,515 $ 12,302 $ 10,012 $ 13,368 Market Small/Mid U.S. Equity 6,108 2,688 6,079 2,670 Market International Equity 9,478 — 6,611 — Market Fixed Income Government — 298 — 284 Market Corporate 17,832 4,547 16,162 6,788 Market Real Estate (Primarily Commercial) — 3,887 — 3,887 Market Total Investments $ 42,933 $ 23,722 $ 38,864 $ 26,997 Non-U.S. Plans Insurance Contracts $ 696 $ — $ 510 $ — Market Cash Flows Contributions The Company expects to contribute $4,570 to its U.S. pension plans in fiscal 2016 , compared to $3,770 funded in fiscal 2015 . Estimated Future Benefit Payments The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid by the plans: Pension Benefits Other Benefits 2016 $ 3,840 $ 63 2017 4,190 49 2018 3,960 41 2019 4,530 40 2020 4,650 39 2021-2025 24,360 129 Non-U.S. Plans For the Company's Swedish operations, the majority of the pension obligations are covered by insurance policies with insurance companies. Pension commitments in the Company's Polish operations are $696 at the end of fiscal 2015 and $510 at the end of fiscal 2014 . The liability represents the present value of future obligations and is calculated on actuarial basis. The insurance contracts guarantee a minimum rate of return. The Company has no input into the investment strategy of the assets underlying the contracts, but they are typically heavily invested in active bond markets and are highly regulated by local law. Defined Contribution Plans In addition to the defined benefit plans described above, the Company maintains a number of defined contribution plans for its United States locations. Under the terms of the plans, eligible employees may contribute a selected percentage of their base pay. The Company matches a percentage of the employees' contributions up to a stated percentage, subject to statutory limitations. The Company recorded an expense related to the matching program for the fiscal years ended 2015 , 2014 and 2013 of $3,845 , $3,230 and 2,195 , respectively. |
Fair Value of Other Financial I
Fair Value of Other Financial Instruments Fair Value of Other Financial Instruments | 12 Months Ended |
Oct. 31, 2015 | |
Other Fair Value Financial Instruments [Abstract] | |
Other Fair Value Financial Instruments | Other Fair Value Financial Instruments The methods used by the Company may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. Furthermore, while the Company believes its valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date. Assets and liabilities remeasured and disclosed at fair value on a recurring basis at October 31, 2015 and 2014 are set forth in the table below: Asset (Liability) Level 2 Valuation Technique October 31, 2014: Interest Rate Swap Contracts $ (2,510 ) $ (2,510 ) Income Approach Marketable Securities 1,045 1,045 Income Approach October 31, 2015: Interest Rate Swap Contracts (4,989 ) (4,989 ) Income Approach Marketable Securities $ 356 $ 356 Income Approach The Company calculates the fair value of its interest rate swap contracts, using quoted interest rate curves, to calculate forward values, and then discounts the forward values. The discount rates for all derivative contracts are based on quoted swap interest rates or bank deposit rates. For contracts which, when aggregated by counterparty, are in a liability position, the rates are adjusted by the credit spread that market participants would apply if buying these contracts from the Company’s counterparties. Assets and liabilities measured at fair value on a nonrecurring basis at October 31, 2015 and 2014 are set forth in the table below: Asset Level 3 Valuation Technique October 31, 2014: Goodwill $ 24,887 $ 24,887 Income Approach Intangible Assets 6,756 6,756 Income Approach October 31, 2015: Goodwill (488 ) (488 ) Income Approach Intangible Assets $ (240 ) $ (240 ) Income Approach |
Earnings Per Share
Earnings Per Share | 12 Months Ended |
Oct. 31, 2015 | |
Equity [Abstract] | |
Earnings Per Share [Text Block] | —Earnings Per Share (amounts and number of shares in thousands except per share data) Basic earnings per share is computed by dividing net income available to common stockholders by the weighted average number of shares of Common Stock outstanding during the period. In addition, the shares of Common Stock issuable pursuant to stock options outstanding under the Amended and Restated 1993 Key Employee Stock Incentive Program are included in the diluted earnings per share calculation to the extent they are dilutive. For the years ended October 31, 2015 , 2014 , and 2013 , approximately 143 , 117 , and 225 stock awards, respectively, were excluded from the computation of diluted earnings per share because they were anti-dilutive. The following is a reconciliation of the numerator and denominator of the basic and diluted earnings per share computation for net income per share: Years Ended October 31, 2015 2014 2013 Net income available to common stockholders $ 8,264 $ 22,444 $ 21,570 Basic weighted average shares 17,287 17,145 16,982 Effect of dilutive securities: Stock options 23 70 48 Diluted weighted average shares 17,310 17,215 17,030 Basic earnings per share $0.48 $1.31 $1.27 Diluted earnings per share $0.48 $1.30 $1.27 |
Stock Options and Incentive Com
Stock Options and Incentive Compensation | 12 Months Ended |
Oct. 31, 2015 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Stock Options and Incentive Compensation | —Stock Options and Incentive Compensation (amounts in thousands except number of shares and per share data) For the Company, FASB ASC Topic 718, "Compensation – Stock Compensation," affects the stock options that have been granted and requires the Company to expense share-based payment ("SBP") awards with compensation cost for SBP transactions measured at fair value. The Company has elected to use the simplified method of calculating the expected term of the stock options and historical volatility to compute fair value under the Black-Scholes option-pricing model. The risk-free rate for periods within the contractual life of the option is based on the U.S. zero coupon Treasury yield in effect at the time of grant. Forfeitures have been estimated based upon the Company’s historical experience. 1993 Key Employee Stock Incentive Plan The Company maintains the Amended and Restated 1993 Key Employee Stock Incentive Program (the "Incentive Plan"), which authorizes grants to officers and other key employees of the Company and its subsidiaries of (i) stock options that are intended to qualify as incentive stock options, (ii) nonqualified stock options and (iii) restricted stock awards. An aggregate of 2,700,000 shares of Common Stock, subject to adjustment upon occurrence of certain events to prevent dilution or expansion of the rights of participants that might otherwise result from the occurrence of such events, has been reserved for issuance pursuant to the Incentive Plan. An individual’s award of stock options is limited to 500,000 shares in a five -year period. The following table summarizes the Company's Incentive Plan activity during the years ended October 31, 2015 , 2014 , and 2013 : Options Restricted Stock Awards Outstanding at: Options Weighted Average Exercise Price Restricted Shares Weighted Average Grant Date Fair Value November 1, 2012 362,085 $9.99 80,257 $10.18 Options exercised or restricted stock vested (47,804 ) $6.28 (28,685 ) $10.18 Forfeited or expired (78,147 ) $12.45 — — October 31, 2013 236,134 $9.93 51,572 $10.18 Granted — — 89,500 $19.65 Options exercised or restricted stock vested (100,468 ) $10.55 (17,191 ) $10.18 Forfeited or expired (12,333 ) $7.19 (7,000 ) $20.64 October 31, 2014 123,333 $9.69 116,881 $16.81 Granted — — 84,272 $11.22 Options exercised or restricted stock vested (19,317 ) $8.19 (68,648 ) $14.99 Forfeited or expired (13,350 ) $11.80 (8,250 ) $20.64 October 31, 2015 90,666 $9.70 124,255 $13.77 Restricted Stock Awards The grant date fair value of each restricted stock award equals the market price of the Company's common stock on its date of grant. Compensation expense is recorded at the grant date fair value, less an estimated forfeiture amount, and is recognized over the applicable vesting periods. The vesting periods range between three months and four years. During the years ended October 31, 2015 , 2014 , and 2013 , the Company recorded compensation expense related to the restricted stock awards of $1,010 , $429 , and $282 , respectively. As of October 31, 2015 , there was approximately $1,336 of total unrecognized compensation costs related to these restricted stock awards to be recognized over the next three fiscal years. Stock Options The exercise price of each stock option equals the market price of the Company's common stock on its grant date. Compensation expense is recorded at the grant date fair value, less an estimated forfeiture amount, and is recognized on a straight-line basis over the applicable vesting period. The Company's stock options generally vest over three years, with a maximum term of ten years. Incentive stock options were not granted during fiscal years 2015 , 2014 , and 2013 . For the fiscal years ended October 31, 2015 , 2014 , and 2013 , the Company recorded compensation expense related to the stock options that vested during the period, effectively reducing pretax income by $15 , $150 , and $456 , respectively. There were 90,666 options outstanding and exercisable as of October 31, 2015 with a weighted average exercise price of $9.70 . Cash received from the exercise of options for the fiscal years ended October 31, 2015 , 2014 , and 2013 was $159 , $1,061 , and $302 , respectively. At October 31, 2015 , the options outstanding had an intrinsic value of $96 and the options exercisable had an intrinsic value of $96 . Options that have an exercise price greater than the market price on October 31, 2015 were excluded from the intrinsic value computation. The intrinsic value of options exercised during fiscal 2015 , 2014 , and 2013 was $18 , $652 , and $485 , respectively. The following table provides additional information regarding options outstanding as of October 31, 2015 : Exercise Prices Options Outstanding Exercise Price of Options Outstanding and Options Exercisable Options Exercisable Weighted Average Remaining Contractual Life $14.74 16,000 $14.74 16,000 1.29 $2.11 8,000 $2.11 8,000 3.12 $5.30 19,666 $5.30 19,666 3.78 $12.04 36,000 $12.04 36,000 5.11 $8.10 11,000 $8.10 11,000 6.15 Totals 90,666 90,666 Incentive Bonus Plans The Company maintains a Management Incentive Plan ("MIP") to provide the Chief Executive Officer and certain eligible employees ("participants") incentives for superior performance. The MIP is administered by the Compensation Committee of the Board of Directors and entitles the participants to be paid a cash bonus based upon varying percentages of their respective salaries, the level of achievement of the corporate goals established by the Compensation Committee and specific individual goals as established by the Chief Executive Officer (for employees other than the CEO). For fiscal years 2015 , 2014 and 2013 , the Compensation Committee established goals for participants based on the Company's earnings before interest, taxes, depreciation and amortization and return on invested capital. The incentive depends upon meeting the operating targets and, for participants at an operating unit, 50% is based upon attaining the corporate goals for the Company's performance. For fiscal 2015 , the Company did not meet the established targets and therefore participants were not eligible for a bonus payout under the MIP. For fiscal 2014 , participants in the MIP received an aggregate bonus of $3,360 under the MIP, which was paid in the first quarter of fiscal 2015 . For fiscal 2013 , participants in the MIP received an aggregate bonus of $3,293 under the MIP, which was paid in the first quarter of fiscal 2014 . |
Income Taxes
Income Taxes | 12 Months Ended |
Oct. 31, 2015 | |
Income Tax Disclosure [Abstract] | |
Income Taxes[Text Block] | Income Taxes Income (loss) before income taxes consists of the following: Years Ended October 31, 2015 2014 2013 Domestic $ 16,774 $ 28,200 $ 30,814 Foreign (5,260 ) (1,009 ) 1,361 Total $ 11,514 $ 27,191 $ 32,175 The components of the provision for income taxes from continuing operations were as follows: Years Ended October 31, 2015 2014 2013 Current: Federal $ (455 ) $ 3,684 $ 8,427 State and local 367 210 1,338 Foreign 491 74 261 Total current 403 3,968 10,026 Deferred: Federal 4,501 3,069 427 State and local 208 58 152 Foreign (1,862 ) (2,348 ) — Total deferred 2,847 779 579 Provision $ 3,250 $ 4,747 $ 10,605 Temporary differences and carryforwards which give rise to deferred tax assets and liabilities were comprised of the following: Years Ended October 31, 2015 2014 Deferred tax assets: Accrued compensation and benefits $ 1,794 $ 1,524 Inventory 738 886 State depreciation adjustments and loss carryforwards 2,167 1,739 Pension obligations and post retirement benefits 6,020 7,766 Foreign net operating loss 4,548 2,626 Other accruals, reserves and tax credits 2,567 3,032 Goodwill and intangible amortization 8,280 9,414 Foreign currency translation 107 24 Interest rate swap 1,811 952 Total deferred tax assets 28,032 27,963 Less: Valuation allowance (5,350) (3,630) Total deferred tax assets 22,682 24,333 Deferred tax liabilities: Fixed assets (20,694) (20,193) Prepaid expenses and other (900) (778) Net deferred tax asset $ 1,088 $ 3,362 Change in net deferred tax asset: Provision for deferred taxes $ (2,847 ) $ (779 ) Purchase accounting adjustments 51 663 Unrecognized tax benefit adjustments (200 ) (64 ) Components of other comprehensive income: Pension and post retirement benefits (387 ) 783 Velocys investment 248 (53 ) Interest rate swap 861 952 Total change in net deferred tax asset $ (2,274 ) $ 1,502 As required by FASB ASC Topic 740, the Company recognizes the financial statement benefit of a tax position only after determining that the relevant tax authority would more likely than not sustain the position. For tax positions meeting the more-likely-than-not threshold, the amount recognized in the financial statements is the largest benefit that has a greater than 50 percent likelihood of being realized upon ultimate settlement with the relevant tax authority. Activities and balances of unrecognized tax benefits for 2015 , 2014 , and 2013 are summarized below: Years Ended October 31, 2015 2014 2013 Balance at beginning of year $ 1,068 $ 1,183 $ 1,247 Additions based on tax positions related to the current year 48 35 54 Additions for tax positions of prior years 36 — — Reductions based on tax positions related to the current year (60 ) (5 ) — Reductions for tax positions of prior years (9 ) (3 ) (61 ) Reductions as result of lapse of applicable statute of limitations (450 ) (142 ) (57 ) Balance at end of year $ 633 $ 1,068 $ 1,183 The total amount of unrecognized tax benefits that, if recognized, would affect the effective rate was $416 at October 31, 2015 and $700 at October 31, 2014 . The Company recognizes interest accrued and penalties related to unrecognized tax benefits as part of income tax expense. The Company recognized $224 of benefit in 2015 and $136 of expense in 2014 for interest and penalties. The Company had accrued $669 at October 31, 2015 and $893 at October 31, 2014 for the payment of interest and penalties. The Company is subject to income taxes in the U.S. federal jurisdiction, and various state, local and foreign jurisdictions. Tax regulations within each jurisdiction are subject to the interpretation of the related tax laws and regulations and require significant judgment to apply. With few exceptions, the Company is no longer subject to U.S. federal, state and local income tax examinations by tax authorities for the years ending prior to October 31, 2012 and no longer subject to non-U.S. income tax examinations for calendar years ending prior to December 31, 2010. The Company does not anticipate that within the next 12 months the total unrecognized tax benefits will significantly change due to the settlement of examinations and the expiration of statute of limitations. In September 2013 and August 2014, the Internal Revenue Service issued final regulations governing the income tax treatment of acquisitions, dispositions, and repairs of tangible property. Taxpayers are required to follow the new regulations in taxable years beginning on or after January 1, 2014. Management assessed the impact of the regulations and does not expect they will have a material impact on the Company's financial statements. A valuation allowance of $5,350 remains as of October 31, 2015 for deferred tax assets whose realization remains uncertain at this time. The comparable amount of the valuation allowance at October 31, 2014 was $3,630 . The net increase in the valuation allowance of $1,720 relates to an increase of $404 related to state operating loss carry forwards, an increase of $1,136 related to Swedish operating loss carry forwards during the current period, an increase of $60 related to Netherlands operating loss carry forwards and an increase of $120 related to China operating loss carry forwards. The Company assesses both negative and positive evidence when measuring the need for a valuation allowance. A valuation allowance has been established by the Company due to the uncertainty of realizing certain loss carry forwards, other deferred tax assets and foreign tax credits in the United States and various foreign jurisdictions. The Company believes the remaining deferred tax assets will be realizable based on projected book income, the reversals of existing taxable temporary differences and available tax planning strategies that would be implemented and generate ordinary income in the United States or foreign jurisdictions to recognize the deferred tax assets. The Company intends to maintain the valuation allowance against certain deferred tax assets until such time that sufficient positive evidence exists to support realization of the deferred tax assets. In the event the Company were to determine that it would be able to realize its deferred tax assets in the future in excess of their net recorded amount, an adjustment to the deferred tax assets would increase income in the period such determination was made. Likewise, should the Company determine that it would not be able to realize all or part of its net deferred tax assets in the future, an adjustment to the deferred tax assets would be charged to income in the period such determination was made. A reconciliation of the statutory federal income tax rate to the effective tax rate is as follows: Years Ended October 31, 2015 2014 2013 Federal income tax at statutory rate 35.0 % 35.0 % 35.0 % State and local income taxes, net of federal benefit 0.6 0.7 3.5 Valuation allowance change 15.3 (6.6 ) (1.7 ) Domestic tax credits (1.9 ) (0.8 ) (0.8 ) Domestic production activities deduction (3.1 ) (2.8 ) (2.9 ) Foreign operations (5.1 ) (1.8 ) 0.9 Stock option expense — — 0.2 Adjustment of uncertain tax positions (3.3 ) (0.7 ) (0.1 ) Provision to return adjustment for tax law extensions subsequent to year-end (9.6 ) (9.1 ) — Change in legislation - Mexico — 2.1 (1.4 ) Other 0.3 1.5 0.3 Effective income tax rate 28.2 % 17.5 % 33.0 % At October 31, 2015 , the Company had foreign operating loss carryforward benefits in Sweden, Netherlands, China and Mexico. The Swedish foreign operating loss carry forward benefit is approximately $3,118 with a valuation allowance of $3,106 , which can be carried forward indefinitely. The Company established full valuation allowances against the Netherlands operating loss carry forward benefit of $60 which has a nine year carry forward period and a full valuation allowance against the China operating loss carry forward benefit of $120 , which has a five year carry forward period. In addition, the Company had Mexican foreign operating loss carry forward benefits of approximately $1,251 as of October 31, 2015 , which will expire between 2018 - 2025. There is no valuation allowance against the Mexican operating loss as the Company expects to fully utilize the benefit within the carry forward period. Domestically, the Company has various state net operating loss carry forward benefits. As of October 31, 2015 and 2014 , the Company had state net operating loss carry forward benefits of $1,839 and $1,413 with a valuation allowance of $1,817 and $1,413 , respectively, which will expire between 2016 and 2035. The table below summarizes the various country operating losses and associated valuation allowances. Jurisdiction NOL Carryforward NOL Tax Benefit Valuation Allowance Expiration Netherlands $ 329 $ 60 $ 60 2024 Sweden 14,172 3,118 3,106 Indefinite China 478 120 120 2020 Mexico 4,171 1,251 0 2018-2025 U.S. (State) 23,149 1,839 1,817 2016-2035 Total before Foreign Tax Credit $ 42,299 $ 6,388 $ 5,103 U.S. Federal (Foreign Tax Credit) — — 247 Total $ 42,299 $ 6,388 $ 5,350 The Company paid income taxes, net of refunds, of $1,770 and $7,995 in 2015 and 2014 , respectively. U.S. income taxes and foreign withholding taxes are not provided on undistributed earnings of foreign subsidiaries because it is expected such earnings will be permanently reinvested in the operations of such subsidiaries or pay down European debt. As of October 31, 2015 , there was approximately $3,384 of undistributed foreign subsidiary earnings. The income tax liability that would result had such earnings been repatriated is estimated at $1,184 . |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Loss Accumulated Other Comprehensive Loss | 12 Months Ended |
Oct. 31, 2015 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |
Accumulated Other Comprehensive Loss | Accumulated Other Comprehensive Loss The following table provides additional details of the amounts recognized into net earnings from accumulated other comprehensive loss, net of tax: Pension and Post Retirement Plan Liability (1) Marketable Securities Adjustment Interest Rate Swap Adjustment Foreign Currency Translation Adjustment Accumulated Other Comprehensive Loss Balance at October 31, 2013 $ (26,082 ) $ — $ — $ — $ (26,082 ) Other comprehensive income (loss) (3,186 ) 465 (1,558 ) (8,052 ) (12,331 ) Amounts reclassified from accumulated other comprehensive income (loss), net of tax 1,897 (365 ) — 1,532 Net current-period other comprehensive income (loss) $ (1,289 ) $ 100 $ (1,558 ) $ (8,052 ) $ (10,799 ) Balance at October 31, 2014 $ (27,371 ) $ — $ (1,558 ) $ (8,052 ) $ (36,881 ) Other comprehensive loss (2,265 ) (441 ) (2,051 ) (9,671 ) (14,428 ) Amounts reclassified from accumulated other comprehensive income (loss), net of tax 827 — 433 — 1,260 Net current-period other comprehensive loss (1,438 ) (441 ) (1,618 ) (9,671 ) (13,168 ) Balance at October 31, 2015 $ (28,809 ) $ (341 ) $ (3,176 ) $ (17,723 ) $ (50,049 ) (1) Amounts reclassified from accumulated other comprehensive income (loss), net of tax are classified with manufacturing expenses included in cost of goods sold on the statements of income. |
Related Party Transaction
Related Party Transaction | 12 Months Ended |
Oct. 31, 2015 | |
Related Party Transactions [Abstract] | |
Related Party Transactions [Text Block] | —Related Party Transactions The Company had sales to MTD Products Inc. and its affiliates of $6,411 , $6,756 , and $7,645 for fiscal years 2015 , 2014 , and 2013 , respectively. At October 31, 2015 and 2014 , the Company had receivable balances of $1,092 and $533 , respectively, due from MTD Products Inc. and its affiliates, and no amounts were due to MTD Products Inc. at those dates. As of October 31, 2015 , the Company had one joint venture in China. While the joint venture is consolidated in the Company's operations, activities in 2015 were minimal. On March 11, 2014, the Company entered into a supplier agreement with Velocys. As part of the agreement, the Company invested $2,000 , which is comprised of Velocys stock with a market value of $1,527 on the date of acquisition and a market allowance paid of $473 that is being amortized over the remaining life of the related supplier agreement. During fiscal 2014, the Company sold a portion of the Velocys stock and realized a gain of $365 . The Company re-measures available-for-sale securities at fair value and records the unrealized gain or loss in other comprehensive income until realized. A cumulative mark-to-market unfavorable adjustment of $441 , net of tax, was recorded as a loss to other comprehensive loss for the fiscal year ended October 31, 2015 . A cumulative mark-to-market favorable adjustment of $100 net of tax, was recorded as a gain to other comprehensive income for the fiscal year ended October 31, 2014 . The Company had sales to Velocys of $1,372 for fiscal year 2015 . There were no sales for fiscal years 2014 , and 2013 . At October 31, 2015 , the Company had receivable a receivable balance of $9 due from Velocys. During 2015, Velocys reimbursed the Company $3,200 for certain equipment specific to development of prototypes and production parts for Velocys. |
Business Segment Information
Business Segment Information | 12 Months Ended |
Oct. 31, 2015 | |
Segment Reporting [Abstract] | |
Business Segment Information [Text Block] | Business Segment Information The Company conducts its business and reports its information as one operating segment - Automotive and Commercial Vehicles. The Chief Operating Decision Maker has been identified as the SLT, which includes all Vice Presidents plus the Chief Executive Officer of the Company as this team has the final authority over performance assessment and resource allocation decisions. In determining that one operating segment is appropriate, the Company considered the nature of the business activities, the existence of managers responsible for the operating activities and information presented to the Board of Directors for its consideration and advice. Customers and suppliers are substantially the same in the automotive and commercial vehicle industry. Revenues of foreign geographic regions are attributed to external customers based upon the location of the entity recording the sale. These foreign revenues represent 15.9% , 10.8% , and 5.9% of total revenues for fiscal years 2015 , 2014 and 2013 , respectively. Long-lived assets consist primarily of net property, plant and equipment. Revenues Long-Lived Assets 2015 2014 2013 2015 2014 2013 Europe $ 133,863 $ 49,060 $ — $ 43,670 $ 44,151 $ — Mexico 41,827 45,902 41,524 24,509 24,611 16,403 United States 933,505 783,782 658,662 276,407 267,001 208,771 Total company $ 1,109,195 $ 878,744 $ 700,186 $ 344,586 $ 335,763 $ 225,174 The foreign currency gain or loss is included as a component of other income (expense) in the consolidated statements of income. Foreign Currency (Gain) Loss 2015 2014 2013 Europe $ (23 ) $ 109 $ — Mexico $ (483 ) $ (111 ) $ (141 ) The following details customers that accounted for more than 10% of the Company's revenues in fiscal 2015 , 2014 and 2013 : Revenues Customer 2015 2014 2013 FCA 17.4 % 13.9 % 15.6 % General Motors 15.5 % 16.4 % 20.9 % |
Quarterly Results
Quarterly Results | 12 Months Ended |
Oct. 31, 2015 | |
Quarterly Financial Information Disclosure [Abstract] | |
Quarterly Results of Operations [Text Block] | Quarterly Results of Operations (Unaudited) (amounts in thousands except per share data) For the Year Ended October 31, 2015 First Quarter Second Quarter Third Quarter Fourth Quarter Revenues $256,909 $280,175 $275,201 $296,910 Gross profit 18,677 27,955 20,249 20,205 Operating income (loss) 4,430 10,409 7,517 (593 ) Provision (benefit) for income taxes 627 2,665 2,480 (2,522 ) Net income (loss) $2,443 $6,353 $1,981 $(2,513) Net income (loss) per share basic $0.14 $0.37 $0.11 $(0.14) Net income (loss) per share diluted $0.14 $0.37 $0.11 $(0.14) Weighted average number of shares: Basic 17,215 17,211 17,227 17,292 Diluted 17,255 17,236 17,246 17,292 For the Year Ended October 31, 2014 First Quarter Second Quarter Third Quarter Fourth Quarter Revenues $183,539 $208,972 $216,389 $269,844 Gross profit 17,846 21,001 22,100 18,654 Operating income 8,021 12,699 9,726 719 Provision (benefit) for income taxes 2,181 3,620 335 (1,389 ) Net income $4,939 $8,129 $8,349 $1,027 Net income per share basic $0.29 $0.48 $0.49 $0.05 Net income per share diluted $0.29 $0.47 $0.49 $0.05 Weighted average number of shares: Basic 17,113 17,081 17,118 17,180 Diluted 17,208 17,158 17,175 17,229 |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Oct. 31, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies [Text Block] | Commitments and Contingencies Litigation A securities class action lawsuit was filed on September 21, 2015 in the United States District Court for the Southern District of New York against the Company and certain of its officers (Mr. Ramzi Hermiz and Mr. Thomas Dugan). The lawsuit claims in part that the Company issued inaccurate information to investors about, among other things, the Company’s earnings and income and its internal controls over financial reporting for the first and second fiscal quarters of 2015 in violation of the Securities Exchange Act of 1934. The complaint seeks an award of damages in an unspecified amount on behalf of a putative class consisting of persons who purchased the Company's common stock between March 9, 2015 and September 14, 2015, inclusive. On December 8, 2015, the United States District Court for the Southern District of New York appointed the lead plaintiff and the counsel for the class. In addition, from time to time, the Company is involved in legal proceedings, claims or investigations that are incidental to the conduct of its business. The Company vigorously defends itself against such claims. In future periods, the Company could be subject to cash costs or non-cash charges to earnings if a matter is resolved on unfavorable terms. However, although the ultimate outcome of any legal matter cannot be predicted with certainty, based on current information, including its assessment of the merits of the particular claims, the Company does not expect that its legal proceedings or claims will have a material impact on its future consolidated financial condition, results of operations or cash flows. |
Acquisitions (Tables)
Acquisitions (Tables) | 12 Months Ended |
Oct. 31, 2015 | |
Radar Industries [Member] | |
Business Acquisition [Line Items] | |
Schedule of Business Acquisitions, by Acquisition | The final price allocation was as follows: Cash and cash equivalents $ 75 Accounts receivable 14,136 Inventory 13,144 Prepaid assets and other 2,780 Property, plant and equipment 25,922 Goodwill 14,053 Intangible assets 6,380 Accounts payable and other (18,811 ) Net assets acquired $ 57,679 |
Finnveden [Member] | |
Business Acquisition [Line Items] | |
Schedule of Business Acquisitions, by Acquisition | The final purchase price allocation was as follows: Cash and cash equivalents $ 6,222 Accounts receivable 29,744 Inventory 18,711 Prepaid expenses 11,828 Property, plant and equipment 37,474 Goodwill 6,681 Intangible assets 136 Other non-current assets 3,676 Accounts payable and other (36,416 ) Long term liabilities (5,438 ) Net assets acquired $ 72,618 |
Inventories (Tables)
Inventories (Tables) | 12 Months Ended |
Oct. 31, 2015 | |
Inventory Disclosure [Abstract] | |
Schedule of Inventory, Current [Table Text Block] | Inventories Inventories consist of the following: October 31, 2015 2014 Raw materials $ 31,864 $ 36,417 Work-in-process 10,994 12,044 Finished goods 15,321 13,382 Total inventories $ 58,179 $ 61,843 |
Prepaid Expenses Prepaid Expe31
Prepaid Expenses Prepaid Expenses (Tables) | 12 Months Ended |
Oct. 31, 2015 | |
Other Assets [Abstract] | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Table Text Block] | Prepaid expenses consist of the following: October 31, 2015 2014 Tooling $ 40,658 $ 35,281 Prepaid other 7,609 6,166 Total $ 48,267 $ 41,447 |
Other Assets Other Assets (Tabl
Other Assets Other Assets (Tables) | 12 Months Ended |
Oct. 31, 2015 | |
Deferred Costs and Other Assets Disclosure [Abstract] | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Table Text Block] | October 31, 2015 2014 Other assets consist of the following: Deferred financing costs, net $ 6,818 $ 2,280 Tooling 1,499 2,642 Other 3,192 523 Total $ 11,509 $ 5,445 |
Property, Plant and Equipment (
Property, Plant and Equipment (Tables) | 12 Months Ended |
Oct. 31, 2015 | |
Property, Plant and Equipment [Abstract] | |
Property, Plant and Equipment [Table Text Block] | Property, Plant and Equipment Property, plant and equipment consist of the following: October 31, 2015 2014 Land and improvements 11,330 11,452 Buildings and improvements 118,166 117,776 Machinery and equipment 495,481 455,482 Furniture and fixtures 13,901 11,161 Construction in progress 51,252 52,345 Total, at cost 690,130 648,216 Less: Accumulated depreciation 409,870 373,388 Property, plant and equipment, net $ 280,260 $ 274,828 |
Schedule of Capital Leased Assets [Table Text Block] | Capital Leases: October 31, 2015 2014 Leased Property: Machinery and equipment $ 7,019 $ 7,639 Less: Accumulated depreciation $ 1,142 $ 367 Leased property, net $ 5,877 $ 7,272 |
Schedule of Future Minimum Lease Payments for Capital Leases [Table Text Block] | Future minimum rental payments to be made under capital leases at October 31, 2015 are as follows: Twelve Months Ending October 31, 2016 856 2017 872 2018 888 2019 617 2020 393 Thereafter 1,808 5,434 Plus amount representing interest ranging from 3.05% to 3.77% 679 Total obligations under capital leases $ 6,113 |
Financing Arrangements (Tables)
Financing Arrangements (Tables) | 12 Months Ended |
Oct. 31, 2015 | |
Debt Disclosure [Abstract] | |
Schedule of Debt | Debt consists of the following: October 31, 2015 2014 Credit Agreement —interest at 4.44% and 2.15% at October 31, 2015 and October 31, 2014, respectively $ 293,300 $ 260,500 Equipment security note 1,496 1,985 Capital lease obligations 5,434 6,967 Insurance broker financing agreement 723 568 Total debt 300,953 270,020 Less: Current debt 2,080 1,918 Total long-term debt $ 298,873 $ 268,102 |
Schedule of Maturities of Debt | Twelve Months Ending October 31, Credit Agreement Equipment Security Note Capital Lease Obligations Other Debt Total 2016 $ — $ 501 $ 856 $ 723 $ 2,080 2017 — 513 872 — 1,385 2018 — 482 888 — 1,370 2019 293,300 — 617 — 293,917 2020 — — 393 — 393 Thereafter — — 1,808 — 1,808 Total $ 293,300 $ 1,496 $ 5,434 $ 723 $ 300,953 |
Goodwill and Intangible Assets(
Goodwill and Intangible Assets(Tables) | 12 Months Ended |
Oct. 31, 2015 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule of Goodwill [Table Text Block] | The changes in the carrying amount of goodwill are as follows: Balance October 31, 2013 $ 6,768 Acquisitions 24,887 Foreign currency translation and other (768 ) Balance October 31, 2014 30,887 Acquisitions, including adjustments on prior year acquisitions (488 ) Foreign currency translation and other (1,556 ) Balance October 31, 2015 $ 28,843 |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | The changes in the carrying amount of finite intangible assets for the years ended October 31, 2015 and 2014 are as follows: Customer Relationships Developed Technology Non-Compete Trade Name Trademark Total Balance October 31, 2013 $ 12,691 $ 2,571 $ 434 $ 1,747 $ 162 $ 17,605 Acquisitions and purchase accounting adjustments 4,456 2,300 — — — 6,756 Amortization expense (1,183 ) (560 ) (372 ) (123 ) (17 ) (2,255 ) Foreign currency translation and other (108 ) — — — — (108 ) Balance October 31, 2014 15,856 4,311 62 1,624 145 21,998 Acquisitions and purchase accounting adjustments (320 ) — 80 — — (240 ) Amortization expense (1,305 ) (771 ) (79 ) (124 ) (16 ) (2,295 ) Foreign currency translation and other 80 — — — — 80 Balance October 31, 2015 $ 14,311 $ 3,540 $ 63 $ 1,500 $ 129 $ 19,543 |
Schedule of Acquired Finite-Lived Intangible Assets by Major Class [Table Text Block] | Intangible assets are amortized on the straight-line method over their legal or estimated useful lives. The following summarizes the gross carrying value and accumulated amortization for each major class of intangible assets: October 31, 2015 Weighted Average Useful Life (years) Gross Carrying Value Accumulated Amortization Foreign Currency Adjustment Net Customer relationships 13.2 $ 17,598 $ (3,259 ) $ (28 ) $ 14,311 Developed technology 7.3 5,007 (1,467 ) — 3,540 Non-compete 2.3 824 (761 ) — 63 Trade name 14.8 1,875 (375 ) — 1,500 Trademark 10.0 166 (37 ) — 129 Total intangible assets $ 25,470 $ (5,899 ) $ (28 ) $ 19,543 October 31, 2014 Gross Carrying Value Accumulated Amortization Foreign Currency Adjustment Net Customer relationships $ 17,918 $ (1,954 ) $ (108 ) $ 15,856 Developed technology 5,007 (696 ) — 4,311 Non-compete 744 (682 ) — 62 Trade name 1,875 (251 ) — 1,624 Trademark 166 (21 ) — 145 Total intangible assets $ 25,710 $ (3,604 ) $ (108 ) $ 21,998 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | Amortization expense related to intangible assets for the following fiscal years ending is estimated to be as follows: 2016 2,262 2017 2,262 2018 2,127 2019 1,719 2020 1,705 Thereafter 9,468 $ 19,543 |
Operating Leases Operating Leas
Operating Leases Operating Leases(Tables) | 12 Months Ended |
Oct. 31, 2015 | |
Operating Leases [Abstract] | |
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | Future minimum lease payments under operating leases are as follows at October 31, 2015 : 2016 $ 9,580 2017 8,915 2018 7,926 2019 6,906 2020 5,961 Thereafter 6,216 Total commitments under non-cancelable operating leases $ 45,504 |
Employee Benefit Plan (Tables)
Employee Benefit Plan (Tables) | 12 Months Ended |
Oct. 31, 2015 | |
Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract] | |
Obligations and Funded Status | Obligations and Funded Status U.S. Plans At October 31 Pension Benefits Other Post Retirement Benefits 2015 2014 2015 2014 Change in benefit obligation: Benefit obligation at beginning of year $ (88,590 ) $ (85,128 ) $ (639 ) $ (894 ) Interest cost (3,466 ) (3,749 ) (24 ) (38 ) Actuarial gain (loss) 563 (4,388 ) 180 277 Benefits paid 4,666 4,675 60 16 Benefit obligation at end of year (86,827 ) (88,590 ) (423 ) (639 ) Change in plan assets: Fair value of plan assets at beginning of year 65,861 60,956 — — Actual return on plan assets 1,690 5,206 — — Employer contributions 3,770 4,374 60 16 Benefits paid (4,666 ) (4,675 ) (60 ) (16 ) Fair value of plan assets at end of year 66,655 65,861 — — Funded status, benefit obligations in excess of plan assets $ (20,172 ) $ (22,729 ) $ (423 ) $ (639 ) |
Amounts Recorded in the Liability Section of the Consolidated Balance Sheet | The above amounts are recorded in the liabilities section of the consolidated balance sheets as follows: Pension Benefits Other Post Retirement Benefits 2015 2014 2015 2014 Other accrued expenses $ (3,840 ) $ (3,910 ) $ (63 ) $ (62 ) Long-term benefit liabilities (16,332 ) (18,819 ) (360 ) (577 ) Total $ (20,172 ) $ (22,729 ) $ (423 ) $ (639 ) |
Components of Net Periodic Benefit Cost | Components of Net Periodic Benefit Cost U.S. Plans Pension Benefits Other Post Retirement Benefits 2015 2014 2013 2015 2014 2013 Interest cost $ 3,466 $ 3,749 $ 3,260 $ 24 $ 38 $ 34 Expected return on plan assets (4,698 ) (4,281 ) (3,735 ) — — — Settlement — — 1,102 — — — Amortization of net actuarial loss 1,186 1,074 1,392 28 41 48 Net periodic benefit cost $ (46 ) $ 542 $ 2,019 $ 52 $ 79 $ 82 |
Amortization of Net Actuarial Loss | The Company expects to recognize in the consolidated statements of income the following amounts that will be amortized from accumulated other comprehensive loss in fiscal 2016 . Pension Benefits Other Post Retirement Benefits Amortization of net actuarial loss $ 1,239 $ 12 |
Net Actuarial Loss in Other Comprehensive Income | The Company has recognized the following cumulative pre-tax actuarial losses, prior service costs and transition obligations in accumulated other comprehensive income: Pension Benefits Other Post Retirement Benefits 2015 2014 2015 2014 Net actuarial loss $ 44,928 $ 43,669 $ 153 $ 361 Recognized in accumulated other comprehensive income $ 44,928 $ 43,669 $ 153 $ 361 The following table provides additional details of the amounts recognized into net earnings from accumulated other comprehensive loss, net of tax: Pension and Post Retirement Plan Liability (1) Marketable Securities Adjustment Interest Rate Swap Adjustment Foreign Currency Translation Adjustment Accumulated Other Comprehensive Loss Balance at October 31, 2013 $ (26,082 ) $ — $ — $ — $ (26,082 ) Other comprehensive income (loss) (3,186 ) 465 (1,558 ) (8,052 ) (12,331 ) Amounts reclassified from accumulated other comprehensive income (loss), net of tax 1,897 (365 ) — 1,532 Net current-period other comprehensive income (loss) $ (1,289 ) $ 100 $ (1,558 ) $ (8,052 ) $ (10,799 ) Balance at October 31, 2014 $ (27,371 ) $ — $ (1,558 ) $ (8,052 ) $ (36,881 ) Other comprehensive loss (2,265 ) (441 ) (2,051 ) (9,671 ) (14,428 ) Amounts reclassified from accumulated other comprehensive income (loss), net of tax 827 — 433 — 1,260 Net current-period other comprehensive loss (1,438 ) (441 ) (1,618 ) (9,671 ) (13,168 ) Balance at October 31, 2015 $ (28,809 ) $ (341 ) $ (3,176 ) $ (17,723 ) $ (50,049 ) |
Minimum Liability Included in Other Comprehensive Income | dditional Information on U.S. Plans Pension Benefits Other Post Retirement Benefits 2015 2014 2015 2014 Increase (decrease) in minimum liability included in other comprehensive income (loss) $ (1,259 ) $ (2,390 ) $ 208 $ 318 |
Assumptions | Assumptions for U.S. Plans: Weighted-average assumptions used to determine benefit obligations at October 31 Pension Benefits Other Post Retirement Benefits 2015 2014 2013 2015 2014 2013 Discount rate 4.20 % 4.00 % 4.50 % 4.20 % 4.00 % 4.50 % Pension Benefits Other Post Retirement Benefits Weighted-average assumptions used to determine net periodic benefit costs for years ended October 31 2015 2014 2013 2015 2014 2013 Discount rate 4.00 % 4.50 % 3.75 % 4.00 % 4.50 % 3.75 % Expected long-term return on plan assets 7.50 % 7.50 % 7.50 % — — — |
Assumed Health Care Cost Trend Rates | October 31, Assumed health care trend rates 2015 2014 Health care cost trend rate assumed for next year 7.0% 7.0% Rate to which the cost trend rate is assumed to decline (the ultimate trend rate) 6.8% 6.5% Year that the rate reaches the ultimate trend rate 2018 2015 |
Effect of One-Percentage-Point Change in Assumed Health Care Cost Trend Rates | A one-percentage point change in assumed healthcare cost trend rates would have the following effects at October 31, 2015 : One-Percentage Point Increase One-Percentage Point Decrease Effect on total of service and interest cost components $ 4 $ (3 ) Effect on post retirement obligation $ 30 $ (27 ) |
Allocation of Plan Assets | The Company's pension plan weighted-average asset allocations at October 31, 2015 and 2014 , by asset category and comparison to the target allocation percentage are as follows: Target Allocation Percentage Plan Assets at October 31, 2015 2014 Asset Category Equity securities 0-70% 60% 59% Debt securities 0-70% 34% 35% Real estate 0-10% 6% 6% Total 100% 100% |
Investments Measured At Fair Value | Investments totaling $66,655 at October 31, 2015 and $65,861 at October 31, 2014 measured at fair value on a recurring basis are summarized below: Fair Value Measurements Fair Value Measurements at October 31, 2015 Using at October 31, 2014 Using Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) U.S. Plans Valuation Technique Investments Equity Large U.S. Equity $ 9,515 $ 12,302 $ 10,012 $ 13,368 Market Small/Mid U.S. Equity 6,108 2,688 6,079 2,670 Market International Equity 9,478 — 6,611 — Market Fixed Income Government — 298 — 284 Market Corporate 17,832 4,547 16,162 6,788 Market Real Estate (Primarily Commercial) — 3,887 — 3,887 Market Total Investments $ 42,933 $ 23,722 $ 38,864 $ 26,997 Non-U.S. Plans Insurance Contracts $ 696 $ — $ 510 $ — Market |
Estimated Future Benefit Payments | Estimated Future Benefit Payments The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid by the plans: Pension Benefits Other Benefits 2016 $ 3,840 $ 63 2017 4,190 49 2018 3,960 41 2019 4,530 40 2020 4,650 39 2021-2025 24,360 129 |
Fair Value of Other Financial38
Fair Value of Other Financial Instruments Fair Value of Other Financial Instruments (Tables) | 12 Months Ended |
Oct. 31, 2015 | |
Other Fair Value Financial Instruments [Abstract] | |
Assets and Liabilities Measured on a Recurring Basis | Assets and liabilities remeasured and disclosed at fair value on a recurring basis at October 31, 2015 and 2014 are set forth in the table below: Asset (Liability) Level 2 Valuation Technique October 31, 2014: Interest Rate Swap Contracts $ (2,510 ) $ (2,510 ) Income Approach Marketable Securities 1,045 1,045 Income Approach October 31, 2015: Interest Rate Swap Contracts (4,989 ) (4,989 ) Income Approach Marketable Securities $ 356 $ 356 Income Approach |
Assets and Liabilities Measured on a Non-recurring Basis | Assets and liabilities measured at fair value on a nonrecurring basis at October 31, 2015 and 2014 are set forth in the table below: Asset Level 3 Valuation Technique October 31, 2014: Goodwill $ 24,887 $ 24,887 Income Approach Intangible Assets 6,756 6,756 Income Approach October 31, 2015: Goodwill (488 ) (488 ) Income Approach Intangible Assets $ (240 ) $ (240 ) Income Approach |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 12 Months Ended |
Oct. 31, 2015 | |
Equity [Abstract] | |
Schedule of Calculation of Numerator and Denominator in Earnings Per Share [Table Text Block] | The following is a reconciliation of the numerator and denominator of the basic and diluted earnings per share computation for net income per share: Years Ended October 31, 2015 2014 2013 Net income available to common stockholders $ 8,264 $ 22,444 $ 21,570 Basic weighted average shares 17,287 17,145 16,982 Effect of dilutive securities: Stock options 23 70 48 Diluted weighted average shares 17,310 17,215 17,030 Basic earnings per share $0.48 $1.31 $1.27 Diluted earnings per share $0.48 $1.30 $1.27 |
Stock Options and Incentive C40
Stock Options and Incentive Compensation (Tables) | 12 Months Ended |
Oct. 31, 2015 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Schedule of Share-based Compensation, Activity [Table Text Block] | Options Restricted Stock Awards Outstanding at: Options Weighted Average Exercise Price Restricted Shares Weighted Average Grant Date Fair Value November 1, 2012 362,085 $9.99 80,257 $10.18 Options exercised or restricted stock vested (47,804 ) $6.28 (28,685 ) $10.18 Forfeited or expired (78,147 ) $12.45 — — October 31, 2013 236,134 $9.93 51,572 $10.18 Granted — — 89,500 $19.65 Options exercised or restricted stock vested (100,468 ) $10.55 (17,191 ) $10.18 Forfeited or expired (12,333 ) $7.19 (7,000 ) $20.64 October 31, 2014 123,333 $9.69 116,881 $16.81 Granted — — 84,272 $11.22 Options exercised or restricted stock vested (19,317 ) $8.19 (68,648 ) $14.99 Forfeited or expired (13,350 ) $11.80 (8,250 ) $20.64 October 31, 2015 90,666 $9.70 124,255 $13.77 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding and Exercisable [Table Text Block] | Exercise Prices Options Outstanding Exercise Price of Options Outstanding and Options Exercisable Options Exercisable Weighted Average Remaining Contractual Life $14.74 16,000 $14.74 16,000 1.29 $2.11 8,000 $2.11 8,000 3.12 $5.30 19,666 $5.30 19,666 3.78 $12.04 36,000 $12.04 36,000 5.11 $8.10 11,000 $8.10 11,000 6.15 Totals 90,666 90,666 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Oct. 31, 2015 | |
Income Tax Disclosure [Abstract] | |
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block] | Income (loss) before income taxes consists of the following: Years Ended October 31, 2015 2014 2013 Domestic $ 16,774 $ 28,200 $ 30,814 Foreign (5,260 ) (1,009 ) 1,361 Total $ 11,514 $ 27,191 $ 32,175 |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | The components of the provision for income taxes from continuing operations were as follows: Years Ended October 31, 2015 2014 2013 Current: Federal $ (455 ) $ 3,684 $ 8,427 State and local 367 210 1,338 Foreign 491 74 261 Total current 403 3,968 10,026 Deferred: Federal 4,501 3,069 427 State and local 208 58 152 Foreign (1,862 ) (2,348 ) — Total deferred 2,847 779 579 Provision $ 3,250 $ 4,747 $ 10,605 |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | Temporary differences and carryforwards which give rise to deferred tax assets and liabilities were comprised of the following: Years Ended October 31, 2015 2014 Deferred tax assets: Accrued compensation and benefits $ 1,794 $ 1,524 Inventory 738 886 State depreciation adjustments and loss carryforwards 2,167 1,739 Pension obligations and post retirement benefits 6,020 7,766 Foreign net operating loss 4,548 2,626 Other accruals, reserves and tax credits 2,567 3,032 Goodwill and intangible amortization 8,280 9,414 Foreign currency translation 107 24 Interest rate swap 1,811 952 Total deferred tax assets 28,032 27,963 Less: Valuation allowance (5,350) (3,630) Total deferred tax assets 22,682 24,333 Deferred tax liabilities: Fixed assets (20,694) (20,193) Prepaid expenses and other (900) (778) Net deferred tax asset $ 1,088 $ 3,362 Change in net deferred tax asset: Provision for deferred taxes $ (2,847 ) $ (779 ) Purchase accounting adjustments 51 663 Unrecognized tax benefit adjustments (200 ) (64 ) Components of other comprehensive income: Pension and post retirement benefits (387 ) 783 Velocys investment 248 (53 ) Interest rate swap 861 952 Total change in net deferred tax asset $ (2,274 ) $ 1,502 |
Summary of Income Tax Contingencies [Table Text Block] | Activities and balances of unrecognized tax benefits for 2015 , 2014 , and 2013 are summarized below: Years Ended October 31, 2015 2014 2013 Balance at beginning of year $ 1,068 $ 1,183 $ 1,247 Additions based on tax positions related to the current year 48 35 54 Additions for tax positions of prior years 36 — — Reductions based on tax positions related to the current year (60 ) (5 ) — Reductions for tax positions of prior years (9 ) (3 ) (61 ) Reductions as result of lapse of applicable statute of limitations (450 ) (142 ) (57 ) Balance at end of year $ 633 $ 1,068 $ 1,183 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | A reconciliation of the statutory federal income tax rate to the effective tax rate is as follows: Years Ended October 31, 2015 2014 2013 Federal income tax at statutory rate 35.0 % 35.0 % 35.0 % State and local income taxes, net of federal benefit 0.6 0.7 3.5 Valuation allowance change 15.3 (6.6 ) (1.7 ) Domestic tax credits (1.9 ) (0.8 ) (0.8 ) Domestic production activities deduction (3.1 ) (2.8 ) (2.9 ) Foreign operations (5.1 ) (1.8 ) 0.9 Stock option expense — — 0.2 Adjustment of uncertain tax positions (3.3 ) (0.7 ) (0.1 ) Provision to return adjustment for tax law extensions subsequent to year-end (9.6 ) (9.1 ) — Change in legislation - Mexico — 2.1 (1.4 ) Other 0.3 1.5 0.3 Effective income tax rate 28.2 % 17.5 % 33.0 % |
Summary of Operating Loss Carryforwards [Table Text Block] | Jurisdiction NOL Carryforward NOL Tax Benefit Valuation Allowance Expiration Netherlands $ 329 $ 60 $ 60 2024 Sweden 14,172 3,118 3,106 Indefinite China 478 120 120 2020 Mexico 4,171 1,251 0 2018-2025 U.S. (State) 23,149 1,839 1,817 2016-2035 Total before Foreign Tax Credit $ 42,299 $ 6,388 $ 5,103 U.S. Federal (Foreign Tax Credit) — — 247 Total $ 42,299 $ 6,388 $ 5,350 |
Accumulated Other Comprehensi42
Accumulated Other Comprehensive Loss Amounts Recognized Into Other Comprehensive Income (Tables) | 12 Months Ended |
Oct. 31, 2015 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |
Schedule of Amounts Recognized in Other Comprehensive Income (Loss) | The Company has recognized the following cumulative pre-tax actuarial losses, prior service costs and transition obligations in accumulated other comprehensive income: Pension Benefits Other Post Retirement Benefits 2015 2014 2015 2014 Net actuarial loss $ 44,928 $ 43,669 $ 153 $ 361 Recognized in accumulated other comprehensive income $ 44,928 $ 43,669 $ 153 $ 361 The following table provides additional details of the amounts recognized into net earnings from accumulated other comprehensive loss, net of tax: Pension and Post Retirement Plan Liability (1) Marketable Securities Adjustment Interest Rate Swap Adjustment Foreign Currency Translation Adjustment Accumulated Other Comprehensive Loss Balance at October 31, 2013 $ (26,082 ) $ — $ — $ — $ (26,082 ) Other comprehensive income (loss) (3,186 ) 465 (1,558 ) (8,052 ) (12,331 ) Amounts reclassified from accumulated other comprehensive income (loss), net of tax 1,897 (365 ) — 1,532 Net current-period other comprehensive income (loss) $ (1,289 ) $ 100 $ (1,558 ) $ (8,052 ) $ (10,799 ) Balance at October 31, 2014 $ (27,371 ) $ — $ (1,558 ) $ (8,052 ) $ (36,881 ) Other comprehensive loss (2,265 ) (441 ) (2,051 ) (9,671 ) (14,428 ) Amounts reclassified from accumulated other comprehensive income (loss), net of tax 827 — 433 — 1,260 Net current-period other comprehensive loss (1,438 ) (441 ) (1,618 ) (9,671 ) (13,168 ) Balance at October 31, 2015 $ (28,809 ) $ (341 ) $ (3,176 ) $ (17,723 ) $ (50,049 ) |
Business Segment Information (T
Business Segment Information (Tables) | 12 Months Ended |
Oct. 31, 2015 | |
Segment Reporting [Abstract] | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Revenues Long-Lived Assets 2015 2014 2013 2015 2014 2013 Europe $ 133,863 $ 49,060 $ — $ 43,670 $ 44,151 $ — Mexico 41,827 45,902 41,524 24,509 24,611 16,403 United States 933,505 783,782 658,662 276,407 267,001 208,771 Total company $ 1,109,195 $ 878,744 $ 700,186 $ 344,586 $ 335,763 $ 225,174 |
Schedule of Revenue by Major Customers by Reporting Segments [Table Text Block] | The following details customers that accounted for more than 10% of the Company's revenues in fiscal 2015 , 2014 and 2013 : Revenues Customer 2015 2014 2013 FCA 17.4 % 13.9 % 15.6 % General Motors 15.5 % 16.4 % 20.9 % |
Quarterly Results Quarterly Res
Quarterly Results Quarterly Results(Tables) | 12 Months Ended |
Oct. 31, 2015 | |
Quarterly Financial Information Disclosure [Abstract] | |
Schedule of Quarterly Financial Info Current Yr[Table Text Block] | For the Year Ended October 31, 2015 First Quarter Second Quarter Third Quarter Fourth Quarter Revenues $256,909 $280,175 $275,201 $296,910 Gross profit 18,677 27,955 20,249 20,205 Operating income (loss) 4,430 10,409 7,517 (593 ) Provision (benefit) for income taxes 627 2,665 2,480 (2,522 ) Net income (loss) $2,443 $6,353 $1,981 $(2,513) Net income (loss) per share basic $0.14 $0.37 $0.11 $(0.14) Net income (loss) per share diluted $0.14 $0.37 $0.11 $(0.14) Weighted average number of shares: Basic 17,215 17,211 17,227 17,292 Diluted 17,255 17,236 17,246 17,292 For the Year Ended October 31, 2014 First Quarter Second Quarter Third Quarter Fourth Quarter Revenues $183,539 $208,972 $216,389 $269,844 Gross profit 17,846 21,001 22,100 18,654 Operating income 8,021 12,699 9,726 719 Provision (benefit) for income taxes 2,181 3,620 335 (1,389 ) Net income $4,939 $8,129 $8,349 $1,027 Net income per share basic $0.29 $0.48 $0.49 $0.05 Net income per share diluted $0.29 $0.47 $0.49 $0.05 Weighted average number of shares: Basic 17,113 17,081 17,118 17,180 Diluted 17,208 17,158 17,175 17,229 |
Basis of Presentation (Details)
Basis of Presentation (Details) $ in Thousands | 12 Months Ended | |||||
Oct. 31, 2015USD ($)Subsidiaries | Oct. 31, 2015 | Oct. 31, 2015employee | Oct. 31, 2015employees | Oct. 31, 2014USD ($) | Oct. 31, 2013USD ($) | |
Property, Plant and Equipment [Line Items] | ||||||
Number of Subsidiaries | Subsidiaries | 28 | |||||
Percent of employees participating in a discretionary profit sharing plan | 95.00% | |||||
Number of employees receiving post-retirement benefits | 16 | 16 | ||||
Deferred Tax Liabilities, Undistributed Foreign Earnings | $ 3,384 | |||||
Effective Income Tax Rate Reconciliation, Repatriation of Foreign Earnings, Amount | 1,184 | |||||
Goodwill | $ 28,843 | $ 30,887 | $ 6,768 | |||
Goodwill as a percentage of total assets | 4.30% | 4.90% | ||||
Furniture & Fixtures, Machinery & Equip, Assets specificall for Customer Programs [Member] | Minimum [Member] | ||||||
Property, Plant and Equipment [Line Items] | ||||||
Property, Plant and Equipment, Estimated Useful Lives | P3Y | |||||
Furniture & Fixtures, Machinery & Equip, Assets specificall for Customer Programs [Member] | Maximum [Member] | ||||||
Property, Plant and Equipment [Line Items] | ||||||
Property, Plant and Equipment, Estimated Useful Lives | P12Y | |||||
Land Improvements [Member] | Minimum [Member] | ||||||
Property, Plant and Equipment [Line Items] | ||||||
Property, Plant and Equipment, Estimated Useful Lives | P10Y | |||||
Land Improvements [Member] | Maximum [Member] | ||||||
Property, Plant and Equipment [Line Items] | ||||||
Property, Plant and Equipment, Estimated Useful Lives | P20Y | |||||
Building and Building Improvements [Member] | Minimum [Member] | ||||||
Property, Plant and Equipment [Line Items] | ||||||
Property, Plant and Equipment, Estimated Useful Lives | P20Y | |||||
Building and Building Improvements [Member] | Maximum [Member] | ||||||
Property, Plant and Equipment [Line Items] | ||||||
Property, Plant and Equipment, Estimated Useful Lives | P40Y | |||||
China JV [Member] | ||||||
Property, Plant and Equipment [Line Items] | ||||||
Common Stock, Percentage Owned by Related Party | 55.00% | |||||
MTD Holdings Inc. [Member] | ||||||
Property, Plant and Equipment [Line Items] | ||||||
Common Stock, Percentage Owned by Related Party | 48.50% | |||||
Foreign Subsidiary [Member] | ||||||
Property, Plant and Equipment [Line Items] | ||||||
Cash | $ 13,907 | $ 11,921 | ||||
Other Current Assets [Member] | ||||||
Property, Plant and Equipment [Line Items] | ||||||
Prior Period Reclassification Adjustment | $ 29,460 |
Acquisitions Radar Industries I
Acquisitions Radar Industries Inc. (Details) - USD ($) $ in Thousands | 1 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Oct. 31, 2014 | Oct. 31, 2015 | Jul. 31, 2015 | Oct. 31, 2015 | Oct. 29, 2015 | Sep. 30, 2014 | |
Business Acquisition [Line Items] | ||||||
Finite-Lived Intangible Assets, Gross | $ 25,710 | $ 25,470 | $ 25,470 | |||
Business Combination, Provisional Information, Initial Accounting Incomplete, Nature of Adjustments | (488) | |||||
Radar Industries [Member] | ||||||
Business Acquisition [Line Items] | ||||||
Business Combination, Consideration Transferred | 57,874 | |||||
Consideration Transferred Net of Cash Acquired | $ 57,799 | |||||
Business Combinations, Recognized Identifiable Assets Acquired And Liabilities Assumed, Cash In Escrow | 2,250 | $ 2,250 | $ 6,500 | |||
Escrow Deposit Disbursements, Funds Returned to Company | $ 1,296 | |||||
Escrow Deposit Disbursements, Funds Returned to Company As a Reduction to Purchase Price | $ 195 | |||||
Escrow Deposits Disbursements, Funds Returned to Seller | 2,759 | |||||
Cash and cash equivalents | $ 75 | |||||
Accounts receivable | 14,136 | |||||
Inventory | 13,144 | |||||
Prepaid assets and other | 2,780 | |||||
Property, plant and equipment | 25,922 | |||||
Goodwill | 14,053 | |||||
Finite-Lived Intangible Assets, Gross | 6,380 | |||||
Accounts payable and other | (18,811) | |||||
Business Combination, Consideration Transferred | 57,679 | |||||
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Financial Assets | 2,486 | |||||
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Financial Liabilities | 2,685 | |||||
Business Combination, Provisional Information, Initial Accounting Incomplete, Nature of Adjustments | 300 | |||||
Finite-Lived Intangible Asset, Useful Life | 15 years | |||||
Business Combinations, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangibles Deductible for Tax Purposes | 6,380 | |||||
Goodwill [Member] | Radar Industries [Member] | ||||||
Business Acquisition [Line Items] | ||||||
Business Combinations,, Recognized Identifiable Assets Acquired And Liabilities Assumed, Goodwill Deductible for Tax Purposes | 30,648 | |||||
Finite-Lived Intangible Asset, Useful Life | 15 years | |||||
Customer Relationships [Member] | ||||||
Business Acquisition [Line Items] | ||||||
Finite-Lived Intangible Assets, Gross | 17,918 | 17,598 | $ 17,598 | |||
Finite-Lived Intangible Asset, Useful Life | 13 years 2 months 14 days | |||||
Customer Relationships [Member] | Radar Industries [Member] | ||||||
Business Acquisition [Line Items] | ||||||
Finite-Lived Intangible Assets, Gross | 4,000 | |||||
Finite-Lived Intangible Asset, Useful Life | 14 years | |||||
Developed Technology Rights [Member] | ||||||
Business Acquisition [Line Items] | ||||||
Finite-Lived Intangible Assets, Gross | 5,007 | 5,007 | $ 5,007 | |||
Finite-Lived Intangible Asset, Useful Life | 7 years 3 months 1 day | |||||
Developed Technology Rights [Member] | Radar Industries [Member] | ||||||
Business Acquisition [Line Items] | ||||||
Finite-Lived Intangible Assets, Gross | 2,300 | |||||
Finite-Lived Intangible Asset, Useful Life | 10 years | |||||
Noncompete Agreements [Member] | ||||||
Business Acquisition [Line Items] | ||||||
Finite-Lived Intangible Assets, Gross | $ 744 | $ 824 | $ 824 | |||
Finite-Lived Intangible Asset, Useful Life | 2 years 3 months 14 days | |||||
Noncompete Agreements [Member] | Radar Industries [Member] | ||||||
Business Acquisition [Line Items] | ||||||
Finite-Lived Intangible Assets, Gross | $ 80 | |||||
Finite-Lived Intangible Asset, Useful Life | 5 years |
Acquisitions Finnveden (Details
Acquisitions Finnveden (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Oct. 31, 2015 | Jul. 31, 2015 | Oct. 31, 2015 | Oct. 31, 2014 | Jun. 30, 2014 | |
Business Acquisition [Line Items] | |||||
Finite-Lived Intangible Assets, Gross | $ 25,470 | $ 25,470 | $ 25,710 | ||
Goodwill, Purchase Accounting Adjustments | (488) | ||||
Finnveden [Member] | |||||
Business Acquisition [Line Items] | |||||
Business Combination, Consideration Transferred | 72,618 | ||||
Consideration Transferred Net of Cash Acquired | $ 66,396 | ||||
Cash and cash equivalents | 6,222 | ||||
Accounts receivable | 29,744 | ||||
Inventory | 18,711 | ||||
Prepaid expenses | 11,828 | ||||
Property, plant and equipment | 37,474 | ||||
Goodwill | 6,681 | ||||
Intangible assets | 136 | ||||
Other non-current assets | 3,676 | ||||
Accounts payable and other | 36,416 | ||||
Long term liabilities | 5,438 | ||||
Business Combination, Consideration Transferred | 72,618 | ||||
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAdjustmentInFairValueOfPropertyPlantAndEquipment | $ 8,147 | ||||
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Financial Assets | 8,147 | ||||
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Property, Plant, and Equipment | 2,006 | ||||
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Intangibles | $ 1,000 | ||||
Goodwill, Purchase Accounting Adjustments | 1,123 | ||||
Customer Relationships [Member] | |||||
Business Acquisition [Line Items] | |||||
Finite-Lived Intangible Assets, Gross | $ 17,598 | $ 17,598 | $ 17,918 | ||
Finite-Lived Intangible Asset, Useful Life | 13 years 2 months 14 days | ||||
Customer Relationships [Member] | Finnveden [Member] | |||||
Business Acquisition [Line Items] | |||||
Finite-Lived Intangible Assets, Gross | $ 136 | ||||
Finite-Lived Intangible Asset, Useful Life | 10 years |
Acquisitions Prior Year Acquisi
Acquisitions Prior Year Acquisitions (Details) - USD ($) $ in Thousands | Jun. 11, 2013 | Dec. 13, 2012 | Jan. 31, 2013 |
Contech [Member] | |||
Business Acquisition [Line Items] | |||
Business Combination, Consideration Transferred | $ 42,536 | ||
Payments to Acquire Businesses, Gross | $ 42,187 | ||
Anniston [Member] | |||
Business Acquisition [Line Items] | |||
Business Combination, Consideration Transferred | $ 6,347 | ||
Pleasant Prairie [Member] | |||
Business Acquisition [Line Items] | |||
Business Combination, Consideration Transferred | $ 55,935 |
Acquisitions Acquisition Relate
Acquisitions Acquisition Related Costs (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Oct. 31, 2015 | Oct. 31, 2014 | Oct. 31, 2013 | |
Acquisitions [Abstract] | |||
Business Combination, Acquisition Related Costs | $ 433 | $ 3,450 | $ 1,300 |
Asset Impairment and Restruct50
Asset Impairment and Restructuring Charges (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Oct. 31, 2015 | Oct. 31, 2014 | Oct. 31, 2013 | |
Restructuring Cost and Reserve [Line Items] | |||
Recovery of Impairment Charge | $ 0 | $ 4,026 | $ (18) |
Anniston [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Asset Impairment Charges, net | (483) | ||
Mansfield Blanking Division [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Recovery of Impairment Charge | $ 4,026 | 96 | |
Asset Impairment Charges, net | (18) | ||
Liverpool Stamping Division [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Recovery of Impairment Charge | $ 369 |
Accounts Receivable (Details)
Accounts Receivable (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Oct. 31, 2015 | Oct. 31, 2014 | Oct. 31, 2013 | |
Accounts Receivable [Abstract] | |||
Allowance for Doubtful Accounts Receivable, Current | $ 821 | $ 601 | |
Bad debt expense | $ 210 | $ 153 | $ 98 |
Inventories (Details)
Inventories (Details) - USD ($) $ in Thousands | Oct. 31, 2015 | Oct. 31, 2014 |
Inventory Disclosure [Abstract] | ||
Raw materials | $ 31,864 | $ 36,417 |
Work in Process | 10,994 | 12,044 |
Finished Goods | 15,321 | 13,382 |
Total inventories | 58,179 | 61,843 |
Inventory Valuation Reserves | $ 2,347 | $ 2,051 |
Prepaid Expenses Prepaid Expe53
Prepaid Expenses Prepaid Expenses (Details) - USD ($) $ in Thousands | Oct. 31, 2015 | Oct. 31, 2014 |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | ||
Tooling | $ 40,658 | $ 35,281 |
Prepaid other | 7,609 | 6,166 |
Prepaid Expense and Other Assets, Current | $ 48,267 | $ 41,447 |
Other Assets Other Assets(Detai
Other Assets Other Assets(Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Oct. 31, 2015 | Oct. 31, 2014 | Oct. 31, 2013 | |
Deferred Costs and Other Assets Disclosure [Abstract] | |||
Deferred Financing Costs, Net | $ 6,818 | $ 2,280 | |
Tooling | 1,499 | 2,642 | |
Other | 3,192 | 523 | |
Other Assets, Noncurrent | 11,509 | 5,445 | |
Amortization of deferred financing costs | 992 | 807 | $ 338 |
Accumulated Amortization, Deferred Finance Costs | 4,266 | $ 3,274 | |
Interest Costs Capitalized | $ 5,529 |
Property, Plant and Equipment55
Property, Plant and Equipment (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Oct. 31, 2015 | Oct. 31, 2014 | Oct. 31, 2013 | |
Property, Plant and Equipment [Line Items] | |||
Land and improvements | $ 11,330 | $ 11,452 | |
Buildings and improvements | 118,166 | 117,776 | |
Machinery and equipment | 495,481 | 455,482 | |
Furniture and fixtures | 13,901 | 11,161 | |
Construction in progress | 51,252 | 52,345 | |
Total, at cost | 690,130 | 648,216 | |
Accumulated depreciation | 409,870 | 373,388 | |
Property, Plant and Equipment, Net | 280,260 | 274,828 | |
Depreciation | 31,918 | 25,638 | $ 20,878 |
Interest Costs Capitalized | 5,529 | ||
Capital Expenditures Incurred but Not yet Paid | 4,225 | 5,415 | $ 1,978 |
Capital Expenditures Committed but But Not Yet Paid Until Next Fiscal Year | 16,600 | ||
capitalized interest | |||
Property, Plant and Equipment [Line Items] | |||
Interest Costs Capitalized | $ 526 | $ 272 |
Property, Plant and Equipment C
Property, Plant and Equipment Capital Leased Assets Included in Property, Plant and Equipment (Details) - USD ($) $ in Thousands | Oct. 31, 2015 | Oct. 31, 2014 |
Property, Plant and Equipment [Abstract] | ||
Machinery and equipment | $ 7,019 | $ 7,639 |
Less: Accumulated depreciation | 1,142 | 367 |
Leased property, net | $ 5,877 | $ 7,272 |
Property, Plant and Equipment F
Property, Plant and Equipment Future Minimum Lease Payments (Details) - USD ($) $ in Thousands | Oct. 31, 2015 | Oct. 31, 2014 |
Property, Plant and Equipment [Line Items] | ||
2,016 | $ 2,080 | |
2,017 | 1,385 | |
2,018 | 1,370 | |
2,019 | 293,917 | |
2,020 | 393 | |
Long-term Debt, Maturities, Repayments of Principal after Year Five | 1,808 | |
Long-term Debt | 295,519 | |
Plus amount representing interest ranging from 3.05% to 3.77% | 679 | |
Total obligations under capital leases | $ 6,113 | |
Minimum [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 3.05% | |
Maximum [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 3.77% | |
Capital Lease Obligations [Member] | ||
Property, Plant and Equipment [Line Items] | ||
2,016 | $ 856 | |
2,017 | 872 | |
2,018 | 888 | |
2,019 | 617 | |
2,020 | 393 | |
Long-term Debt, Maturities, Repayments of Principal after Year Five | 1,808 | |
Long-term Debt | $ 5,434 | $ 6,967 |
Financing Arrangements Financin
Financing Arrangements Financing Balances at Period End (Details) - USD ($) $ in Thousands | Oct. 31, 2015 | Oct. 31, 2014 |
Debt Instrument [Line Items] | ||
Long-term Debt | $ 295,519 | |
Total debt | 300,953 | $ 270,020 |
Less: Current debt | 2,080 | 1,918 |
Total long-term debt | 298,873 | 268,102 |
Insurance Financing Agreement [Member] | ||
Debt Instrument [Line Items] | ||
Long-term Debt | 723 | |
Short-term Debt | $ 723 | $ 568 |
Revolving Credit Facility [Member] | ||
Debt Instrument [Line Items] | ||
Line of Credit Facility, Interest Rate at Period End | 4.44% | 2.15% |
Long-term Debt | $ 293,300 | $ 260,500 |
Equipment Security Note [Member] | ||
Debt Instrument [Line Items] | ||
Long-term Debt | 1,496 | 1,985 |
Total long-term debt | 995 | |
Capital Lease Obligations [Member] | ||
Debt Instrument [Line Items] | ||
Long-term Debt | $ 5,434 | $ 6,967 |
Financing Arrangements (Details
Financing Arrangements (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||
Oct. 31, 2015 | Oct. 31, 2015 | Oct. 31, 2014 | Oct. 31, 2013 | Oct. 30, 2015 | Sep. 01, 2015 | Apr. 29, 2015 | Feb. 24, 2014 | |
Debt Instrument [Line Items] | ||||||||
Debt Instrument, Interest Rate During Period | 2.82% | 2.08% | ||||||
Letters of Credit Outstanding, Amount | $ 4,230 | $ 4,230 | ||||||
Collateral Agreement | 65.00% | 65.00% | ||||||
Equipment security note | $ 295,519 | $ 295,519 | ||||||
Equipment Security Note, Short-Term Portion | 2,080 | 2,080 | ||||||
Equipment Security Note, Long-term Portion | (298,873) | (298,873) | $ (268,102) | |||||
Capital Leases, Future Minimum Payments Due | $ 5,434 | $ 5,434 | ||||||
Derivatives, Interest Rate Swap, Maturity | 5 years | |||||||
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax | $ (1,618) | (1,558) | $ 0 | |||||
Interest Expense | $ 9,898 | 4,503 | $ 2,600 | |||||
Minimum [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Debt Instrument, Interest Rate, Stated Percentage | 3.05% | 3.05% | ||||||
Maximum [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Debt Instrument, Interest Rate, Stated Percentage | 3.77% | 3.77% | ||||||
Lender Two [Member] | Revolving Credit Facility [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Line of Credit Increase Minimum | $ 25,000 | |||||||
Line of Credit Increase Maximum | 100,000 | |||||||
Maximum Borrowing Capacity | $ 360,000 | |||||||
Line of Credit, Committed Reductions | $ 30,000 | $ 30,000 | ||||||
Line of Credit Facility, Remaining Borrowing Capacity | $ 62,470 | 62,470 | ||||||
Lender Two [Member] | Maximum [Member] | Revolving Credit Facility [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Line of Credit Facility, Capacity Available for Debt Issuance | $ 40,000 | |||||||
Line of Credit Facility, Capacity Available for Specific Purpose Other than for Trade Purchases | $ 50,000 | |||||||
London Interbank Offered Rate (LIBOR) [Member] | Lender Two [Member] | Minimum [Member] | Revolving Credit Facility [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Debt Instrument, Basis Spread on Variable Rate | 1.50% | |||||||
London Interbank Offered Rate (LIBOR) [Member] | Lender Two [Member] | Maximum [Member] | Revolving Credit Facility [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Debt Instrument, Basis Spread on Variable Rate | 4.00% | |||||||
Base Rate [Member] | Lender Two [Member] | Minimum [Member] | Revolving Credit Facility [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Debt Instrument, Basis Spread on Variable Rate | 0.50% | |||||||
Base Rate [Member] | Lender Two [Member] | Maximum [Member] | Revolving Credit Facility [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Debt Instrument, Basis Spread on Variable Rate | 3.00% | |||||||
Revolving Credit Facility [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Equipment security note | $ 293,300 | 293,300 | 260,500 | |||||
Equipment Security Note, Short-Term Portion | $ 0 | $ 0 | ||||||
Equipment Security Note [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Debt Instrument, Interest Rate, Stated Percentage | 2.47% | 2.47% | ||||||
Debt Instrument, Periodic Payment | $ 44 | |||||||
Equipment security note | $ 1,496 | 1,496 | 1,985 | |||||
Equipment Security Note, Short-Term Portion | 501 | 501 | ||||||
Equipment Security Note, Long-term Portion | $ (995) | $ (995) | ||||||
Insurance Financing Agreement [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Debt Instrument, Interest Rate, Stated Percentage | 1.95% | 1.95% | ||||||
Debt Instrument, Periodic Payment | $ 104 | |||||||
Short-term Debt | $ 723 | 723 | $ 568 | |||||
Equipment security note | 723 | 723 | ||||||
Equipment Security Note, Short-Term Portion | 723 | 723 | ||||||
Interest Rate Swap [Member] | Lender Two [Member] | Revolving Credit Facility [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Derivative, Notional Amount | $ 75,000 | |||||||
Derivative, Fixed Interest Rate | 2.74% | |||||||
Derivative, Notional Amount, Amount Per Base | $ 25,000 | |||||||
Derivative, Incremental Amounts | $ 50,000 | $ 25,000 | ||||||
Fixed Rate Debt [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Equipment security note | $ 2,219 | 2,219 | ||||||
Cash Flow Hedging [Member] | Interest Rate Swap [Member] | Lender Two [Member] | Revolving Credit Facility [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Interest Expense | $ 433 |
Financing Arrangements Maturiti
Financing Arrangements Maturities of Debt (Details) - USD ($) $ in Thousands | Oct. 31, 2015 | Oct. 31, 2014 |
Debt Instrument [Line Items] | ||
2,016 | $ 2,080 | |
2,017 | 1,385 | |
2,018 | 1,370 | |
2,019 | 293,917 | |
2,020 | 393 | |
Long-term Debt, Maturities, Repayments of Principal after Year Five | 1,808 | |
Long-term Debt | 295,519 | |
Total debt | 300,953 | $ 270,020 |
Insurance Financing Agreement [Member] | ||
Debt Instrument [Line Items] | ||
2,016 | 723 | |
Long-term Debt | 723 | |
Revolving Credit Facility [Member] | ||
Debt Instrument [Line Items] | ||
2,016 | 0 | |
2,017 | 0 | |
2,018 | 0 | |
2,019 | 293,300 | |
2,020 | 0 | |
Long-term Debt, Maturities, Repayments of Principal after Year Five | 0 | |
Long-term Debt | 293,300 | 260,500 |
Equipment Security Note [Member] | ||
Debt Instrument [Line Items] | ||
2,016 | 501 | |
2,017 | 513 | |
2,018 | 482 | |
2,019 | 0 | |
2,020 | 0 | |
Long-term Debt | 1,496 | 1,985 |
Capital Lease Obligations [Member] | ||
Debt Instrument [Line Items] | ||
2,016 | 856 | |
2,017 | 872 | |
2,018 | 888 | |
2,019 | 617 | |
2,020 | 393 | |
Long-term Debt, Maturities, Repayments of Principal after Year Five | 1,808 | |
Long-term Debt | $ 5,434 | $ 6,967 |
Goodwill and Intangible Assets
Goodwill and Intangible Assets Goodwill (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Oct. 31, 2015 | Oct. 31, 2014 | |
Goodwill and Intangible Assets Disclosure [Abstract] | ||
Goodwill at beginning of period | $ 30,887 | $ 6,768 |
Acquisitions | 24,887 | |
Foreign currency translation and other | (1,556) | (768) |
Goodwill, Purchase Accounting Adjustments | 488 | |
Goodwill at end of period | $ 28,843 | $ 30,887 |
Intangible Assets(Details)
Intangible Assets(Details) - USD ($) $ in Thousands | 12 Months Ended | ||||
Oct. 31, 2015 | Oct. 31, 2014 | Oct. 31, 2013 | Oct. 31, 2015 | Oct. 31, 2014 | |
Finite-Lived Intangible Assets [Line Items] | |||||
Finite-Lived Intangible Assets, Net, Beginning of Period | $ 21,998 | $ 17,605 | $ 17,605 | $ 19,543 | $ 21,998 |
Finite-Lived Intangible Assets, Translation Adjustments | 80 | (108) | |||
Amortization expense | 2,295 | 2,255 | |||
Finite-Lived Intangible Assets, Gross | 25,470 | 25,710 | |||
Finite-Lived Intangible Assets, Accumulated Amortization | (5,899) | (3,604) | |||
Finite-Lived Intangible Assets, Translation Adjustments | (28) | (108) | |||
Finite-Lived Intangible Assets, Net, End of Period | 21,998 | 17,605 | |||
Total amortization expense | (2,295) | (2,255) | (1,349) | ||
2,016 | 2,262 | ||||
2,017 | 2,262 | ||||
2,018 | 2,127 | ||||
2,019 | 1,719 | ||||
2,020 | 1,705 | ||||
Thereafter | 9,468 | ||||
Total | 19,543 | ||||
Customer Relationships [Member] | |||||
Finite-Lived Intangible Assets [Line Items] | |||||
Finite-Lived Intangible Assets, Net, Beginning of Period | 15,856 | 12,691 | 12,691 | 14,311 | 15,856 |
Finite-Lived Intangible Assets, Purchase Accounting Adjustments | (320) | 4,456 | |||
Finite-Lived Intangible Assets, Translation Adjustments | 80 | (108) | |||
Amortization expense | $ 1,305 | 1,183 | |||
Finite-Lived Intangible Asset, Useful Life | 13 years 2 months 14 days | ||||
Finite-Lived Intangible Assets, Gross | 17,598 | 17,918 | |||
Finite-Lived Intangible Assets, Accumulated Amortization | (3,259) | (1,954) | |||
Finite-Lived Intangible Assets, Translation Adjustments | (28) | (108) | |||
Finite-Lived Intangible Assets, Net, End of Period | $ 15,856 | 12,691 | |||
Developed Technology Rights [Member] | |||||
Finite-Lived Intangible Assets [Line Items] | |||||
Finite-Lived Intangible Assets, Net, Beginning of Period | 4,311 | 2,571 | 2,571 | 3,540 | 4,311 |
Finite-Lived Intangible Assets, Purchase Accounting Adjustments | 0 | 2,300 | |||
Finite-Lived Intangible Assets, Translation Adjustments | 0 | ||||
Amortization expense | $ 771 | 560 | |||
Finite-Lived Intangible Asset, Useful Life | 7 years 3 months 1 day | ||||
Finite-Lived Intangible Assets, Gross | 5,007 | 5,007 | |||
Finite-Lived Intangible Assets, Accumulated Amortization | (1,467) | (696) | |||
Finite-Lived Intangible Assets, Net, End of Period | $ 4,311 | 2,571 | |||
Noncompete Agreements [Member] | |||||
Finite-Lived Intangible Assets [Line Items] | |||||
Finite-Lived Intangible Assets, Net, Beginning of Period | 62 | 434 | 434 | 63 | 62 |
Finite-Lived Intangible Assets, Purchase Accounting Adjustments | 80 | 0 | |||
Finite-Lived Intangible Assets, Translation Adjustments | 0 | ||||
Amortization expense | $ 79 | 372 | |||
Finite-Lived Intangible Asset, Useful Life | 2 years 3 months 14 days | ||||
Finite-Lived Intangible Assets, Gross | 824 | 744 | |||
Finite-Lived Intangible Assets, Accumulated Amortization | (761) | (682) | |||
Finite-Lived Intangible Assets, Translation Adjustments | 0 | 0 | |||
Finite-Lived Intangible Assets, Net, End of Period | $ 62 | 434 | |||
Trade Names [Member] | |||||
Finite-Lived Intangible Assets [Line Items] | |||||
Finite-Lived Intangible Assets, Net, Beginning of Period | 1,624 | 1,747 | 1,747 | 1,500 | 1,624 |
Finite-Lived Intangible Assets, Purchase Accounting Adjustments | 0 | ||||
Finite-Lived Intangible Assets, Translation Adjustments | 0 | ||||
Amortization expense | $ 124 | 123 | |||
Finite-Lived Intangible Asset, Useful Life | 14 years 9 months 14 days | ||||
Finite-Lived Intangible Assets, Gross | 1,875 | 1,875 | |||
Finite-Lived Intangible Assets, Accumulated Amortization | (375) | (251) | |||
Finite-Lived Intangible Assets, Net, End of Period | $ 1,624 | 1,747 | |||
Trademarks [Member] | |||||
Finite-Lived Intangible Assets [Line Items] | |||||
Finite-Lived Intangible Assets, Net, Beginning of Period | 145 | 162 | $ 162 | 129 | 145 |
Finite-Lived Intangible Assets, Translation Adjustments | 0 | ||||
Amortization expense | $ 16 | 17 | |||
Finite-Lived Intangible Asset, Useful Life | 10 years 14 days | ||||
Finite-Lived Intangible Assets, Gross | 166 | 166 | |||
Finite-Lived Intangible Assets, Accumulated Amortization | $ (37) | $ (21) | |||
Finite-Lived Intangible Assets, Net, End of Period | $ 145 | 162 | |||
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
Finite-Lived Intangible Assets [Line Items] | |||||
Finite-Lived Intangible Assets, Purchase Accounting Adjustments | $ (240) | $ 6,756 |
Operating Leases Operting Lease
Operating Leases Operting Leases(Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Oct. 31, 2015 | Oct. 31, 2014 | Oct. 31, 2013 | |
Operating Leases [Abstract] | |||
Operating Leases, Rent Expense, Net | $ 8,449 | $ 4,613 | $ 2,203 |
Operating Leases Schedule of Fu
Operating Leases Schedule of Future Minimum Rental (Details) $ in Thousands | Oct. 31, 2015USD ($) |
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract] | |
Operating Leases, Future Minimum Payments Due, Next Twelve Months | $ 9,580 |
Operating Leases, Future Minimum Payments, Due in Two Years | 8,915 |
Operating Leases, Future Minimum Payments, Due in Three Years | 7,926 |
Operating Leases, Future Minimum Payments, Due in Four Years | 6,906 |
Operating Leases, Future Minimum Payments, Due in Five Years | 5,961 |
Operating Leases, Future Minimum Payments, Due Thereafter | 6,216 |
Operating Leases, Future Minimum Payments Due | $ 45,504 |
Pension and Other Post-Retireme
Pension and Other Post-Retirement Benefit Matters (Details) $ in Thousands | 12 Months Ended | |||
Oct. 31, 2015USD ($) | Oct. 31, 2014USD ($) | Oct. 31, 2015employee | Oct. 31, 2015employees | |
Defined Benefit Plan Disclosure [Line Items] | ||||
Number of employees receiving post-retirement benefits | 16 | 16 | ||
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | ||||
Benefit obligation at beginning of year | $ (215) | |||
Benefit obligation at end of year | $ (215) | |||
Pension Plans, Defined Benefit [Member] | ||||
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | ||||
Benefit obligation at beginning of year | (88,590) | (85,128) | ||
Interest cost | (3,466) | (3,749) | ||
Actuarial gain (loss) | 563 | (4,388) | ||
Benefits paid | (4,666) | (4,675) | ||
Benefit obligation at end of year | (86,827) | (88,590) | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||||
Fair value of plan assets at beginning of year | 65,861 | 60,956 | ||
Actual return on plan assets | 1,690 | 5,206 | ||
Employer contributions | 3,770 | 4,374 | ||
Benefits paid | (4,666) | (4,675) | ||
Fair value of plan assets at end of year | 66,655 | 65,861 | ||
Funded status, benefit obligations in excess of plan assets | (20,172) | (22,729) | ||
Other Postretirement Benefit Plans, Defined Benefit [Member] | ||||
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | ||||
Benefit obligation at beginning of year | (639) | (894) | ||
Interest cost | (24) | (38) | ||
Actuarial gain (loss) | 180 | 277 | ||
Benefits paid | (60) | (16) | ||
Benefit obligation at end of year | (423) | (639) | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||||
Fair value of plan assets at beginning of year | 0 | |||
Actual return on plan assets | 0 | 0 | ||
Employer contributions | 60 | 16 | ||
Benefits paid | (60) | (16) | ||
Fair value of plan assets at end of year | 0 | 0 | ||
Funded status, benefit obligations in excess of plan assets | $ (423) | $ (639) |
Pension and Post-Retirement Ben
Pension and Post-Retirement Benefits on Balance Sheet (Details) - USD ($) $ in Thousands | Oct. 31, 2015 | Oct. 31, 2014 |
Defined Benefit Plan Disclosure [Line Items] | ||
Long-term benefit liabilities | $ (17,376) | $ (19,951) |
Pension Plans, Defined Benefit [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Other accrued expenses | (3,840) | (3,910) |
Long-term benefit liabilities | (16,332) | (18,819) |
Total | (20,172) | (22,729) |
Other Postretirement Benefit Plans, Defined Benefit [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Other accrued expenses | (63) | (62) |
Long-term benefit liabilities | (360) | (577) |
Total | $ (423) | $ (639) |
Pension and Other Post-Retire67
Pension and Other Post-Retirement Benefit Matters Components of Net Benefit Costs (Details) $ in Thousands | 12 Months Ended | ||
Oct. 31, 2015USD ($) | Oct. 31, 2014USD ($) | Oct. 31, 2013USD ($)employee | |
United States Pension Plan of US Entity [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Interest Cost | $ 3,466 | $ 3,749 | $ 3,260 |
Expected return on plan assets | (4,698) | (4,281) | (3,735) |
Settlement | 0 | 0 | 1,102 |
Amortization of net actuarial loss | 1,186 | 1,074 | 1,392 |
Net periodic benefit cost | (46) | 542 | $ 2,019 |
Define Benefit Plan, Number of Former Employees Electing Lump Sum Distributions | employee | 200 | ||
Pension Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Interest Cost | 3,466 | 3,749 | |
Settlement, liability | $ 2,271 | ||
United States Postretirement Benefit Plan of US Entity [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Interest Cost | 24 | 38 | 34 |
Expected return on plan assets | 0 | 0 | 0 |
Settlement | 0 | 0 | |
Amortization of net actuarial loss | 28 | 41 | 48 |
Net periodic benefit cost | $ 52 | $ 79 | $ 82 |
Pension and Other Post-Retire68
Pension and Other Post-Retirement Benefit Matters Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Oct. 31, 2015 | Oct. 31, 2014 | Oct. 31, 2013 | |
Defined Benefit Plan Disclosure [Line Items] | |||
Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $ (4,904) | $ 11,645 | $ 26,799 |
Pension Plans, Defined Benefit [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Amortization of net acutarial loss | 1,239 | ||
Pension and Other Postretirement Benefit Plans, Accumulated Other Comprehensive Income (Loss), Net Gains (Losses), before Tax | 44,928 | 43,669 | |
Comprehensive Income (Loss), Net of Tax, Attributable to Parent | (1,259) | (2,390) | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Amortization of net acutarial loss | 12 | ||
Pension and Other Postretirement Benefit Plans, Accumulated Other Comprehensive Income (Loss), Net Gains (Losses), before Tax | 153 | 361 | |
Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $ 208 | $ 318 |
Pension and Other Post-Retire69
Pension and Other Post-Retirement Benefit Matters Assumptions (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Oct. 31, 2015 | Oct. 31, 2014 | Oct. 31, 2013 | |
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Increase (Decrease) to Discount Rate | 0.20% | ||
Defined Benefit Plan, Benefit Obligation | $ 215 | ||
Defined Benefit Plan, Health Care Cost Trend Rate Assumed for Next Fiscal Year | 7.00% | 7.00% | |
Defined Benefit Plan, Ultimate Health Care Cost Trend Rate | 6.80% | 6.50% | |
Defined Benefit Plan, Year that Rate Reaches Ultimate Trend Rate | 2,018 | 2,015 | |
Defined Benefit Plan, Effect of One Percentage Point Increase on Service and Interest Cost Components | $ 4 | ||
Defined Benefit Plan, Effect of One Percentage Point Decrease on Service and Interest Cost Components | (3) | ||
Defined Benefit Plan, Effect of One Percentage Point Increase on Accumulated Postretirement Benefit Obligation | 30 | ||
Defined Benefit Plan, Effect of One Percentage Point Decrease on Accumulated Postretirement Benefit Obligation | $ (27) | ||
Pension Plans, Defined Benefit [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate | 4.20% | 4.00% | 4.50% |
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate | 4.00% | 4.50% | 3.75% |
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Return on Assets | 7.50% | 7.50% | 7.50% |
Defined Benefit Plan, Benefit Obligation | $ 86,827 | $ 88,590 | $ 85,128 |
Other Postretirement Benefit Plans, Defined Benefit [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate | 4.20% | 4.00% | 4.50% |
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate | 4.00% | 4.50% | 3.75% |
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Return on Assets | 0.00% | 0.00% | 0.00% |
Defined Benefit Plan, Benefit Obligation | $ 423 | $ 639 | $ 894 |
Pension and Other Post-Retire70
Pension and Other Post-Retirement Benefit Matters Plan Assets (Details) | 12 Months Ended | |
Oct. 31, 2015 | Oct. 31, 2014 | |
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Actual Plan Asset Allocations | 100.00% | 100.00% |
Equity Securities [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Target Allocation Percentage | 0-70% | |
Defined Benefit Plan, Actual Plan Asset Allocations | 60.00% | 59.00% |
Debt Securities [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Target Allocation Percentage | 0-70% | |
Defined Benefit Plan, Actual Plan Asset Allocations | 34.00% | 35.00% |
Real Estate [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Target Allocation Percentage | 0-10% | |
Defined Benefit Plan, Actual Plan Asset Allocations | 6.00% | 6.00% |
Pension and Other Post-Retire71
Pension and Other Post-Retirement Benefit Matters Fair Value (Details) - USD ($) $ in Thousands | Oct. 31, 2015 | Oct. 31, 2014 |
Compensation and Retirement Disclosure [Abstract] | ||
Financial Instruments, Owned, at Fair Value | $ 66,655 | $ 65,861 |
Pension and Other Post-Retire72
Pension and Other Post-Retirement Benefit Matters Fair Value of Investments (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Oct. 31, 2015 | Oct. 31, 2014 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial Instruments, Owned, at Fair Value | $ 66,655 | $ 65,861 |
Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investments, Fair Value Disclosure | 42,933 | 38,864 |
Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investments, Fair Value Disclosure | 23,722 | 26,997 |
Equity - Large U.S. Equity [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investments, Fair Value Disclosure | 9,515 | 10,012 |
Equity - Large U.S. Equity [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investments, Fair Value Disclosure | 12,302 | 13,368 |
Small/Mid U.S. Equity [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investments, Fair Value Disclosure | 6,108 | 6,079 |
Small/Mid U.S. Equity [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investments, Fair Value Disclosure | 2,688 | 2,670 |
Equity - International Equity [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investments, Fair Value Disclosure | 9,478 | 6,611 |
Equity - International Equity [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investments, Fair Value Disclosure | 0 | 0 |
Fixed Income - Government [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investments, Fair Value Disclosure | 0 | 0 |
Fixed Income - Government [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investments, Fair Value Disclosure | 298 | 284 |
Fixed Income - Corporate [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investments, Fair Value Disclosure | 17,832 | 16,162 |
Fixed Income - Corporate [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investments, Fair Value Disclosure | 4,547 | 6,788 |
Real Estate (Primarily Commercial) [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investments, Fair Value Disclosure | 0 | 0 |
Real Estate (Primarily Commercial) [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investments, Fair Value Disclosure | 3,887 | $ 3,887 |
Pension Plan [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Defined Benefit Plans, Estimated Future Employer Contributions in Next Fiscal Year | $ 4,570 |
Pension and Other Post-Retire73
Pension and Other Post-Retirement Benefit Matters Pension cash flows (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Oct. 31, 2015 | Oct. 31, 2014 | Oct. 31, 2013 | |
Compensation and Retirement Disclosure [Abstract] | |||
Defined Contribution Plan, Cost Recognized | $ 3,845 | $ 3,230 | $ 2,195 |
Pension Plans, Defined Benefit [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plans, Estimated Future Employer Contributions in Next Fiscal Year | 4,570 | ||
Employer contributions | 3,770 | 4,374 | |
Defined Benefit Plan, Expected Future Benefit Payments, Next Twelve Months | 3,840 | ||
Defined Benefit Plan, Expected Future Benefit Payments, Year Two | 4,190 | ||
Defined Benefit Plan, Expected Future Benefit Payments, Year Three | 3,960 | ||
Defined Benefit Plan, Expected Future Benefit Payments, Year Four | 4,530 | ||
Defined Benefit Plan, Expected Future Benefit Payments, Year Five | 4,650 | ||
Defined Benefit Plans, Expected Future Benefit Payments, Thereafter | 24,360 | ||
Other Postretirement Benefit Plans, Defined Benefit [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Employer contributions | 60 | $ 16 | |
Defined Benefit Plan, Expected Future Benefit Payments, Next Twelve Months | 63 | ||
Defined Benefit Plan, Expected Future Benefit Payments, Year Two | 49 | ||
Defined Benefit Plan, Expected Future Benefit Payments, Year Three | 41 | ||
Defined Benefit Plan, Expected Future Benefit Payments, Year Four | 40 | ||
Defined Benefit Plan, Expected Future Benefit Payments, Year Five | 39 | ||
Defined Benefit Plans, Expected Future Benefit Payments, Thereafter | $ 129 |
Pension and Other Post-Retire74
Pension and Other Post-Retirement Benefit Matters Non-U.S. Plans (Details) - USD ($) $ in Thousands | Oct. 31, 2015 | Oct. 31, 2014 |
POLAND | Pension Plan [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Accumulated Benefit Obligation | $ 696 | $ 510 |
Pension and Other Post-Retire75
Pension and Other Post-Retirement Benefit Matters Defined Contribution Plan (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Oct. 31, 2015 | Oct. 31, 2014 | Oct. 31, 2013 | |
Compensation and Retirement Disclosure [Abstract] | |||
Defined Contribution Plan, Cost Recognized | $ 3,845 | $ 3,230 | $ 2,195 |
Fair Value of Other Financial76
Fair Value of Other Financial Instruments Fair Value of Other Financial Instruments (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Oct. 31, 2015 | Oct. 31, 2014 | |
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Goodwill, Fair Value Disclosure | $ (488) | $ (24,887) |
Finite-Lived Intangible Assets, Purchase Accounting Adjustments | (240) | 6,756 |
Finite-lived Intangible Assets Acquired | (240) | |
Interest Rate Swap [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative, Fair Value, Net | (4,989) | (2,510) |
Available-for-sale Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative, Fair Value, Net | $ 356 | $ 1,045 |
Earnings Per Share Reconciliati
Earnings Per Share Reconciliation of Numerator and Denominator of the basic and diluted earnings per share computation (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Oct. 31, 2015 | Jul. 31, 2015 | Apr. 30, 2015 | Jan. 31, 2015 | Oct. 31, 2014 | Jul. 31, 2014 | Apr. 30, 2014 | Jan. 31, 2014 | Oct. 31, 2015 | Oct. 31, 2014 | Oct. 31, 2013 | |
Equity [Abstract] | |||||||||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 143 | 117 | 225 | ||||||||
Net income available to common stockholders | $ (2,513) | $ 1,981 | $ 6,353 | $ 2,443 | $ 1,027 | $ 8,349 | $ 8,129 | $ 4,939 | $ 8,264 | $ 22,444 | $ 21,570 |
Basic weighted average number of common shares | 17,292 | 17,227 | 17,211 | 17,215 | 17,180 | 17,118 | 17,081 | 17,113 | 17,287 | 17,145 | 16,982 |
Stock options | 23 | 70 | 48 | ||||||||
Diluted weighted average number of common shares | 17,292 | 17,246 | 17,236 | 17,255 | 17,229 | 17,175 | 17,158 | 17,208 | 17,310 | 17,215 | 17,030 |
Basic earnings per share | $ (0.14) | $ 0.11 | $ 0.37 | $ 0.14 | $ 0.05 | $ 0.49 | $ 0.48 | $ 0.29 | $ 0.48 | $ 1.31 | $ 1.27 |
Diluted earnings per share | $ (0.14) | $ 0.11 | $ 0.37 | $ 0.14 | $ 0.05 | $ 0.49 | $ 0.47 | $ 0.29 | $ 0.48 | $ 1.30 | $ 1.27 |
Stock Options and Incentive C78
Stock Options and Incentive Compensation Key Employee Stock Incentive Plan (Details) | 12 Months Ended |
Oct. 31, 2015shares | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Share-based Compensation Arrangement by Share-based Payment Award, Maximum Number of Shares Per Employee | 500,000 |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 2,700,000 |
Stock Options and Incentive C79
Stock Options and Incentive Compensation Stock Activity - Options and Restricted (Details) - $ / shares | 12 Months Ended | |||
Oct. 31, 2015 | Oct. 31, 2014 | Oct. 31, 2013 | Oct. 31, 2012 | |
Stock Options Activity | ||||
Options outstanding, beginning of period | 123,333 | 236,134 | 362,085 | |
Granted | 0 | 0 | ||
Options Exercised | (19,317) | (100,468) | (47,804) | |
Forfeited or expired | (13,350) | (12,333) | (78,147) | |
Options outstanding, end of period | 90,666 | 123,333 | 236,134 | |
Weighted Average Exercise Price Options | ||||
Weighted average option price, outstanding, beginning of period | $ 9.69 | $ 9.93 | $ 9.99 | |
Granted | 0 | 0 | ||
Options exercised or restricted stock vested | 8.19 | 10.55 | 6.28 | |
Forfeited or expired | 11.80 | 7.19 | 12.45 | |
Weighted average option price, outstanding, end of period | $ 9.70 | $ 9.69 | $ 9.93 | |
Restricted Stock [Member] | ||||
Restricted Stock Activity [Line Items] | ||||
Restricted stock, beginning of period | 116,881 | 51,572 | 80,257 | |
Granted | 84,272 | 89,500 | ||
Vested | (68,648) | (17,191) | (28,685) | |
Forfeited | (8,250) | (7,000) | 0 | |
Restricted stock, end of period | 124,255 | 116,881 | 51,572 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Weighted Average Grant Date Fair Value | $ 13.77 | $ 16.81 | $ 10.18 | $ 10.18 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | 11.22 | 19.65 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value | 14.99 | 10.18 | 10.18 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value | $ 20.64 | $ 20.64 | $ 0 |
Stock Options and Incentive C80
Stock Options and Incentive Compensation Compensation Expense (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Oct. 31, 2015 | Oct. 31, 2014 | Oct. 31, 2013 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Allocated Share-based Compensation Expense | $ 15 | $ 150 | $ 456 |
Restricted Stock [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Allocated Share-based Compensation Expense | 1,010 | $ 429 | $ 282 |
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized | $ 1,336 |
Stock Options and Incentive C81
Stock Options and Incentive Compensation Options Outstanding and Exercisable (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | |||
Oct. 31, 2015 | Oct. 31, 2014 | Oct. 31, 2013 | Oct. 31, 2012 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||||
Stock Issued During Period, Value, Stock Options Exercised | $ 159 | $ 1,061 | $ 302 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | 96 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value | 96 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | $ 18 | $ 652 | $ 485 | |
Exercise Prices | $ 9.70 | |||
Options Outstanding | 90,666 | 123,333 | 236,134 | 362,085 |
Options Exercisable | 90,666 | |||
Options Granted February 14, 2007 [Member] | ||||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||||
Exercise Prices | $ 14.74 | |||
Options Outstanding | 16,000 | |||
Exercise Price of Options Outstanding and Options Exercisable | $ 14.74 | |||
Options Exercisable | 16,000 | |||
Weighted Avg Remaining Contractual LIfe | 1 year 3 months 15 days | |||
Options Granted December 12, 2008 [Member] | ||||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||||
Exercise Prices | $ 2.11 | |||
Options Outstanding | 8,000 | |||
Exercise Price of Options Outstanding and Options Exercisable | $ 2.11 | |||
Options Exercisable | 8,000 | |||
Weighted Avg Remaining Contractual LIfe | 3 years 1 month 14 days | |||
Options Granted August 13, 2009 [Member] | ||||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||||
Exercise Prices | $ 5.30 | |||
Options Outstanding | 19,666 | |||
Exercise Price of Options Outstanding and Options Exercisable | $ 5.30 | |||
Options Exercisable | 19,666 | |||
Weighted Avg Remaining Contractual LIfe | 3 years 9 months 10 days | |||
Options Granted December 10, 2010 [Member] | ||||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||||
Exercise Prices | $ 12.04 | |||
Options Outstanding | 36,000 | |||
Exercise Price of Options Outstanding and Options Exercisable | $ 12.04 | |||
Options Exercisable | 36,000 | |||
Weighted Avg Remaining Contractual LIfe | 5 years 1 month 11 days | |||
Options Granted December 8, 2011 [Member] | ||||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||||
Exercise Prices | $ 8.10 | |||
Options Outstanding | 11,000 | |||
Exercise Price of Options Outstanding and Options Exercisable | $ 8.10 | |||
Options Exercisable | 11,000 | |||
Weighted Avg Remaining Contractual LIfe | 6 years 1 month 24 days |
Stock Options and Incentive C82
Stock Options and Incentive Compensation Incentive Bonus Plan (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Oct. 31, 2015 | Oct. 31, 2014 | Oct. 31, 2013 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Accured Bonus, Criteria Based Upon Achieving Company Goals | 50.00% | ||
Eligible Corporate Employees [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Accrued Bonus | $ 3,360 | $ 3,293 |
Income Taxes Income Taxes (Deta
Income Taxes Income Taxes (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Oct. 31, 2015 | Jul. 31, 2015 | Apr. 30, 2015 | Jan. 31, 2015 | Oct. 31, 2014 | Jul. 31, 2014 | Apr. 30, 2014 | Jan. 31, 2014 | Oct. 31, 2015 | Oct. 31, 2014 | Oct. 31, 2013 | |
Income Tax Disclosure [Abstract] | |||||||||||
Domestic | $ 16,774 | $ 28,200 | $ 30,814 | ||||||||
Foreign | (5,260) | (1,009) | 1,361 | ||||||||
Income before income taxes | 11,514 | 27,191 | 32,175 | ||||||||
Federal | (455) | 3,684 | 8,427 | ||||||||
State and Local | 367 | 210 | 1,338 | ||||||||
Foreign | 491 | 74 | 261 | ||||||||
Total current | 403 | 3,968 | 10,026 | ||||||||
Federal | 4,501 | 3,069 | 427 | ||||||||
State and Local | 208 | 58 | 152 | ||||||||
Foreign | (1,862) | (2,348) | 0 | ||||||||
Change in net deferred tax asset attributable to the provision for deferred taxes | 2,847 | 779 | 579 | ||||||||
Components of the total provision for income taxes | $ (2,522) | $ 2,480 | $ 2,665 | $ 627 | $ (1,389) | $ 335 | $ 3,620 | $ 2,181 | $ 3,250 | $ 4,747 | $ 10,605 |
Income Taxes Deferred Tax Asset
Income Taxes Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Oct. 31, 2015 | Oct. 31, 2014 | Oct. 31, 2013 | |
Income Tax Disclosure [Abstract] | |||
Accrued compensation and benefits | $ 1,794 | $ 1,524 | |
Inventory | 738 | 886 | |
State income credits and loss carryforwards | 2,167 | 1,739 | |
Pension obligations and post retirement benefits | 6,020 | 7,766 | |
Foreign net operating loss | 4,548 | 2,626 | |
Other accruals and reserves | 2,567 | 3,032 | |
Goodwill and intangible amortization | 8,280 | 9,414 | |
Foreign currency translation | 107 | 24 | |
Interest rate swap | 1,811 | 952 | |
Deferred Tax Assets, Gross | 28,032 | 27,963 | |
Less: Valuation allowance | (5,350) | (3,630) | |
Total deferred tax assets | 22,682 | 24,333 | |
Fixed assets | (20,694) | (20,193) | |
Prepaid expenses and other | (900) | (778) | |
Net deferred tax asset | 1,088 | 3,362 | |
Change in net deferred tax asset attributable to the provision for deferred taxes | (2,847) | (779) | $ (579) |
Change in net deferred tax assets attributable to purchase accounting adjustments | 51 | 663 | |
Change in net deferred tax asset attributable to unrecognized tax benefit adjustments | (200) | (64) | |
Pension and post retirement benefits | (387) | 783 | (2,998) |
Velocys investment | 248 | (53) | 0 |
Interest rate swap | 861 | 952 | $ 0 |
Total change in net deferred tax asset | $ (2,274) | $ 1,502 |
Income Taxes Activities and bal
Income Taxes Activities and balances of unrecognized tax benefits (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Oct. 31, 2015 | Oct. 31, 2014 | Oct. 31, 2013 | |
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||
Balance at beginning of year | $ 1,068 | $ 1,183 | $ 1,247 |
Additions based on tax positions related to the current year | 48 | 35 | 54 |
Unrecognized Tax Benefits, Increase Resulting from Prior Period Tax Positions | 36 | 0 | 0 |
Reductions based on tax positions related to the current year | (60) | (5) | 0 |
Reductions for tax positions of prior years | (9) | (3) | (61) |
Reductions as result of lapse of applicable statute of limitations | (450) | (142) | (57) |
Balance at end of year | 633 | 1,068 | $ 1,183 |
Unrecognized Tax Benefits that Would Impact Effective Tax Rate | 416 | 700 | |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense | 224 | (136) | |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued | $ 669 | $ 893 |
Income Taxes Tax Credits (Detai
Income Taxes Tax Credits (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Oct. 31, 2015 | Oct. 31, 2014 | |
Operating Loss Carryforwards [Line Items] | ||
Deferred Tax Assets, Valuation Allowance | $ 5,350 | $ 3,630 |
Valuation Allowance, Deferred Tax Asset, Change in Amount | 1,720 | |
Change in Valuation Allowance attributable to state and local operating loss carryforwards | 404 | |
Change in Valuation Allowance attributable to foreign operating loss carryforwards | 6,388 | |
Chinese Tax Authority [Member] | Foreign Tax Authority [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Change in Valuation Allowance attributable to foreign operating loss carryforwards | 120 | |
Netherlands Tax Authority Member] | Foreign Tax Authority [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Change in Valuation Allowance attributable to foreign operating loss carryforwards | 60 | |
Swedish Tax Authority [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Change in Valuation Allowance attributable to foreign operating loss carryforwards | 1,136 | |
Swedish Tax Authority [Member] | Foreign Tax Authority [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Change in Valuation Allowance attributable to foreign operating loss carryforwards | $ 3,118 |
Income Taxes Statutory federal
Income Taxes Statutory federal income tax rate (Details) | 12 Months Ended | ||
Oct. 31, 2015 | Oct. 31, 2014 | Oct. 31, 2013 | |
Income Tax Disclosure [Abstract] | |||
Federal income tax at statutory rate | 35.00% | 35.00% | 35.00% |
State and local income taxes, net of federal benefit | 0.60% | 0.70% | 3.50% |
Valuation allowance change | 15.30% | (6.60%) | (1.70%) |
Domestic tax credits | (1.90%) | (0.80%) | (0.80%) |
Domestic production activities deduction | (3.10%) | (2.80%) | (2.90%) |
Foreign operations | 5.10% | 1.80% | (0.90%) |
Stock option expense | 0.00% | 0.00% | 0.20% |
Adjustment of uncertain tax positions | (3.30%) | (0.70%) | (0.10%) |
Effective Income Tax Rate Reconciliations, Revisions to Prior Period Research and Development Tax Credit Calculations | (9.60%) | (9.10%) | (0.00%) |
Effective Income Tax Rate Reconciliation, Repatriation of Foreign Earnings, Percent | 0.00% | 2.10% | (1.40%) |
Other | 0.30% | 1.50% | 0.30% |
Effective income tax rate | 28.20% | 17.50% | 33.00% |
Income Taxes Carryforwards (Det
Income Taxes Carryforwards (Details) - USD ($) | 12 Months Ended | |
Oct. 31, 2015 | Oct. 31, 2014 | |
Operating Loss Carryforwards [Line Items] | ||
Operating Loss Carryforwards | $ 42,299,000 | |
Change in Valuation Allowance attributable to foreign operating loss carryforwards | 6,388,000 | |
Operating Loss Carryforwards, Valuation Allowance | 5,103,000 | |
Operating Loss and Tax Credit Carryforwards | 42,299,000 | |
Deferred Tax Assets, Valuation Allowance | 5,350,000 | $ 3,630,000 |
State and Local Jurisdiction [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Operating Loss Carryforwards | 23,149,000 | |
Change in Valuation Allowance attributable to foreign operating loss carryforwards | 1,839,000 | 1,413,000 |
Operating Loss Carryforwards, Valuation Allowance | 1,817,000 | 1,413,000 |
Foreign Tax Credit Carryforward [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Deferred Tax Assets, Tax Credit Carryforwards, Foreign | 0 | |
Tax Credit Carryforward, Valuation Allowance | 247,000 | |
Netherlands Tax Authority Member] | Foreign Tax Authority [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Operating Loss Carryforwards | 329,000 | |
Change in Valuation Allowance attributable to foreign operating loss carryforwards | $ 60,000 | |
Operating Loss Carryforwards, Expiration Date | 9 years | |
Operating Loss Carryforwards, Valuation Allowance | $ 60,000 | |
Swedish Tax Authority [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Change in Valuation Allowance attributable to foreign operating loss carryforwards | 1,136,000 | |
Operating Loss Carryforwards, Valuation Allowance | 3,106,000 | |
Swedish Tax Authority [Member] | Foreign Tax Authority [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Operating Loss Carryforwards | 14,172,000 | |
Change in Valuation Allowance attributable to foreign operating loss carryforwards | 3,118,000 | |
Operating Loss Carryforwards, Valuation Allowance | 3,106,000 | |
Chinese Tax Authority [Member] | Foreign Tax Authority [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Operating Loss Carryforwards | 478,000 | |
Change in Valuation Allowance attributable to foreign operating loss carryforwards | $ 120,000 | |
Operating Loss Carryforwards, Expiration Date | 5 years | |
Operating Loss Carryforwards, Valuation Allowance | $ 120,000 | |
Mexican Tax Authority [Member] | Foreign Tax Authority [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Operating Loss Carryforwards | 4,171,000 | |
Change in Valuation Allowance attributable to foreign operating loss carryforwards | 1,251,000 | $ 1,251,000 |
Operating Loss Carryforwards, Valuation Allowance | $ 0 |
Income Taxes Cash paid for taxe
Income Taxes Cash paid for taxes (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Oct. 31, 2015 | Oct. 31, 2014 | Oct. 31, 2013 | |
Income Tax Disclosure [Abstract] | |||
Income Taxes Paid | $ 1,770 | $ 7,995 | $ 7,111 |
Deferred Tax Liabilities, Undistributed Foreign Earnings | 3,384 | ||
Effective Income Tax Rate Reconciliation, Repatriation of Foreign Earnings, Amount | $ 1,184 |
Accumulated Other Comprehensi90
Accumulated Other Comprehensive Loss Amounts Recognized Into Other Comprehensive Income (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Oct. 31, 2015 | Oct. 31, 2014 | Oct. 31, 2013 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Balance at October 31, 2013 | $ 144,519 | $ 131,149 | $ 107,403 |
Net current-period other comprehensive loss | (13,168) | (10,799) | 5,229 |
Balance at October 31, 2015 | 140,915 | 144,519 | 131,149 |
Accumulated Other Comprehensive Income (Loss) [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Balance at October 31, 2013 | (36,881) | (26,082) | (31,311) |
Other comprehensive loss | (14,428) | (12,331) | |
Amounts reclassified from accumulated other comprehensive income (loss), net of tax | 1,260 | 1,532 | |
Net current-period other comprehensive loss | (13,168) | (10,799) | 5,229 |
Balance at October 31, 2015 | (50,049) | (36,881) | (26,082) |
Pension and Post Retirement Plan Liability (1) | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Balance at October 31, 2013 | (27,371) | (26,082) | |
Other comprehensive loss | (2,265) | (3,186) | |
Amounts reclassified from accumulated other comprehensive income (loss), net of tax | 827 | 1,897 | |
Net current-period other comprehensive loss | (1,438) | (1,289) | |
Balance at October 31, 2015 | (28,809) | (27,371) | (26,082) |
Marketable Securities Adjustment | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Balance at October 31, 2013 | 0 | ||
Other comprehensive loss | (441) | 465 | |
Amounts reclassified from accumulated other comprehensive income (loss), net of tax | 0 | (365) | |
Net current-period other comprehensive loss | (441) | 100 | |
Balance at October 31, 2015 | (341) | 0 | |
Interest Rate Swap Adjustment | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Balance at October 31, 2013 | (1,558) | 0 | |
Other comprehensive loss | (2,051) | (1,558) | |
Amounts reclassified from accumulated other comprehensive income (loss), net of tax | 433 | 0 | |
Net current-period other comprehensive loss | (1,618) | (1,558) | |
Balance at October 31, 2015 | (3,176) | (1,558) | 0 |
Foreign Currency Translation Adjustment | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Balance at October 31, 2013 | (8,052) | 0 | |
Other comprehensive loss | (9,671) | $ (8,052) | |
Amounts reclassified from accumulated other comprehensive income (loss), net of tax | 0 | ||
Net current-period other comprehensive loss | (9,671) | $ (8,052) | |
Balance at October 31, 2015 | $ (17,723) | $ (8,052) | $ 0 |
Related Party Transactions (Det
Related Party Transactions (Details) - USD ($) $ in Thousands | Mar. 11, 2014 | Jul. 31, 2014 | Oct. 31, 2015 | Oct. 31, 2014 | Oct. 31, 2013 |
Related Party Transaction [Line Items] | |||||
Related-party accounts receivable | $ 1,092 | $ 533 | |||
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, Net of Tax | (441) | 100 | $ 0 | ||
Machinery and Equipment, Gross | 495,481 | 455,482 | |||
Velocys [Member] | Investee [Member] | |||||
Related Party Transaction [Line Items] | |||||
Related-party revenue | 1,372 | ||||
Related-party accounts receivable | 9 | ||||
Payments to Acquire Marketable Securities Including Premium | $ 2,000 | ||||
Marketable Securities | 1,527 | ||||
Investment, Unamortized Premium | $ 473 | ||||
Available-for-sale Securities, Gross Realized Gains | $ 365 | ||||
Payments to Acquire Machinery and Equipment | 3,200 | ||||
MTD Holdings Inc. [Member] | Significant Shareholder [Member] | |||||
Related Party Transaction [Line Items] | |||||
Related-party revenue | $ 6,411 | $ 6,756 | $ 7,645 |
Business Segment Information (D
Business Segment Information (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Oct. 31, 2015 | Jul. 31, 2015 | Apr. 30, 2015 | Jan. 31, 2015 | Oct. 31, 2014 | Jul. 31, 2014 | Apr. 30, 2014 | Jan. 31, 2014 | Oct. 31, 2015 | Oct. 31, 2014 | Oct. 31, 2013 | |
Segment Reporting Information [Line Items] | |||||||||||
Revenue, Net | $ 296,910 | $ 275,201 | $ 280,175 | $ 256,909 | $ 269,844 | $ 216,389 | $ 208,972 | $ 183,539 | $ 1,109,195 | $ 878,744 | $ 700,186 |
Long-Lived Assets | 344,586 | 335,763 | 344,586 | 335,763 | 225,174 | ||||||
Reportable Geographical Components [Member] | Europe [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenue, Net | 49,060 | 133,863 | |||||||||
Long-Lived Assets | 43,670 | 44,151 | 43,670 | 44,151 | |||||||
Foreign Currency Transaction Gain (Loss), before Tax | (23) | 109 | 0 | ||||||||
Reportable Geographical Components [Member] | MEXICO | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenue, Net | 45,902 | 41,827 | 41,524 | ||||||||
Long-Lived Assets | 24,509 | 24,611 | 24,509 | 24,611 | 16,403 | ||||||
Foreign Currency Transaction Gain (Loss), before Tax | (483) | (111) | (141) | ||||||||
Reportable Geographical Components [Member] | UNITED STATES | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenue, Net | 783,782 | 933,505 | 658,662 | ||||||||
Long-Lived Assets | $ 276,407 | $ 267,001 | $ 276,407 | $ 267,001 | $ 208,771 | ||||||
Sales [Member] | Europe and Mexico [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Concentration Risk, Percentage | 15.90% | 10.80% | 5.90% |
Business Segment Information Re
Business Segment Information Revenue by Major Customer (Details) - Sales [Member] | 12 Months Ended | ||
Oct. 31, 2015 | Oct. 31, 2014 | Oct. 31, 2013 | |
Chrysler [Member] | |||
Revenue, Major Customer [Line Items] | |||
Concentration Risk, Percentage | 17.40% | 13.90% | 15.60% |
General Motors [Member] | |||
Revenue, Major Customer [Line Items] | |||
Concentration Risk, Percentage | 15.50% | 16.40% | 20.90% |
Quarterly Results Quarterly R94
Quarterly Results Quarterly Results (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Oct. 31, 2015 | Jul. 31, 2015 | Apr. 30, 2015 | Jan. 31, 2015 | Oct. 31, 2014 | Jul. 31, 2014 | Apr. 30, 2014 | Jan. 31, 2014 | Oct. 31, 2015 | Oct. 31, 2014 | Oct. 31, 2013 | |
Quarterly Financial Information Disclosure [Abstract] | |||||||||||
Revenue, Net | $ 296,910 | $ 275,201 | $ 280,175 | $ 256,909 | $ 269,844 | $ 216,389 | $ 208,972 | $ 183,539 | $ 1,109,195 | $ 878,744 | $ 700,186 |
Gross Profit | 20,205 | 20,249 | 27,955 | 18,677 | 18,654 | 22,100 | 21,001 | 17,846 | 87,086 | 79,601 | 67,152 |
Operating Income | (593) | 7,517 | 10,409 | 4,430 | 719 | 9,726 | 12,699 | 8,021 | 21,763 | 31,165 | 34,604 |
Provision (benefit) for income taxes | 2,522 | (2,480) | (2,665) | (627) | 1,389 | (335) | (3,620) | (2,181) | (3,250) | (4,747) | (10,605) |
Net income (loss) | $ 2,513 | $ (1,981) | $ (6,353) | $ (2,443) | $ (1,027) | $ (8,349) | $ (8,129) | $ (4,939) | $ (8,264) | $ (22,444) | $ (21,570) |
Net income (loss) per basic share | $ 0.14 | $ (0.11) | $ (0.37) | $ (0.14) | $ (0.05) | $ (0.49) | $ (0.48) | $ (0.29) | $ (0.48) | $ (1.31) | $ (1.27) |
Net income (loss) per share diluted share | $ 0.14 | $ (0.11) | $ (0.37) | $ (0.14) | $ (0.05) | $ (0.49) | $ (0.47) | $ (0.29) | $ (0.48) | $ (1.30) | $ (1.27) |
Basic | 17,292 | 17,227 | 17,211 | 17,215 | 17,180 | 17,118 | 17,081 | 17,113 | 17,287 | 17,145 | 16,982 |
Diluted | 17,292 | 17,246 | 17,236 | 17,255 | 17,229 | 17,175 | 17,158 | 17,208 | 17,310 | 17,215 | 17,030 |