Document and Entity Information
Document and Entity Information Document - USD ($) | 12 Months Ended | |
Oct. 31, 2017 | Jan. 03, 2018 | |
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, 2017 | |
Document Fiscal Year Focus | 2,017 | |
Document Fiscal Period Focus | FY | |
Amendment Flag | false | |
Entity Common Stock, Shares Outstanding | 23,344,959 | |
Entity Well-known Seasoned Issuer | No | |
Entity Voluntary Filers | No | |
Entity Current Reporting Status | Yes | |
Entity Public Float | $ 106,810,605 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Oct. 31, 2017 | Oct. 31, 2016 |
ASSETS | ||
Cash and cash equivalents | $ 8,736 | $ 8,696 |
Investment in marketable securities | 194 | 174 |
Accounts receivable, net | 188,664 | 183,862 |
Related-party accounts receivable | 759 | 1,235 |
Prepaid income taxes | 338 | 1,653 |
Inventory, net | 61,812 | 60,547 |
Prepaid expenses and other assets | 34,018 | 36,986 |
Total current assets | 294,521 | 293,153 |
Property, plant and equipment, net | 266,891 | 265,837 |
Goodwill | 27,859 | 27,490 |
Intangible assets, net | 15,025 | 17,279 |
Deferred income taxes | 6,338 | 9,974 |
Other assets | 7,949 | 12,696 |
Total assets | 618,583 | 626,429 |
LIABILITIES AND STOCKHOLDERS’ EQUITY | ||
Current debt | 2,027 | 2,023 |
Accounts payable | 166,059 | 158,514 |
Other accrued expenses | 46,171 | 40,824 |
Accrued income taxes | 1,628 | 1,686 |
Total current liabilities | 215,885 | 203,047 |
Long-term debt | 181,065 | 256,922 |
Long-term benefit liabilities | 21,106 | 23,312 |
Deferred income taxes | 9,166 | 4,734 |
Interest rate swap agreement | 2,088 | 5,036 |
Other liabilities | 952 | 588 |
Total liabilities | 430,262 | 493,639 |
Commitments and contingencies | ||
Stockholders’ equity: | ||
Preferred stock, $.01 per share; 5,000,000 shares authorized; no shares issued and outstanding at October 31, 2017 and October 31, 2016, respectively | 0 | 0 |
Common stock, par value $.01 per share; 50,000,000 shares authorized; 23,121,957 and 17,614,057 shares issued and outstanding at October 31, 2017 and October 31, 2016, respectively | 231 | 176 |
Paid-in capital | 112,351 | 70,403 |
Retained earnings | 117,976 | 118,673 |
Accumulated other comprehensive loss, net | (42,237) | (56,462) |
Total stockholders’ equity | 188,321 | 132,790 |
Total liabilities and stockholders’ equity | $ 618,583 | $ 626,429 |
Consolidated Balance Sheets - P
Consolidated Balance Sheets - Parentheticals - USD ($) $ in Thousands | Oct. 31, 2017 | Oct. 31, 2016 |
Allowance for Doubtful Accounts Receivable, Current | $ 1,271 | $ 790 |
Common stock, par value | $ 0.01 | $ 0.01 |
Common stock, shares authorized | 50,000,000 | 25,000,000 |
Common stock, shares issued | 23,121,957 | 17,614,057 |
Common stock, shares outstanding | 23,121,957 | 17,614,057 |
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, 2017 | Oct. 31, 2016 | Oct. 31, 2015 | |
Income Statement [Abstract] | |||
Net revenues | $ 1,041,986 | $ 1,065,834 | $ 1,073,052 |
Cost of sales | 927,853 | 969,658 | 986,865 |
Gross profit | 114,133 | 96,176 | 86,187 |
Selling, general & administrative expenses | 83,142 | 73,417 | 63,028 |
Amortization of intangible assets | 2,259 | 2,258 | 2,295 |
Asset impairment, net | 241 | 2,031 | 0 |
Restructuring | 4,777 | 0 | 0 |
Operating income | 23,714 | 18,470 | 20,864 |
Interest expense | 15,088 | 18,086 | 9,898 |
Interest income | (4) | (23) | (36) |
Other (income) expense, net | 2,207 | 1,890 | 387 |
Income (loss) before income taxes | 6,423 | (1,483) | 10,615 |
Provision (benefit) for income taxes | 7,120 | (5,152) | 4,710 |
Net income (loss) | $ (697) | $ 3,669 | $ 5,905 |
Earnings per share: | |||
Basic income (loss) per share | $ (0.04) | $ 0.21 | $ 0.34 |
Basic weighted average number of common shares | 19,233 | 17,513 | 17,287 |
Diluted income (loss) per share | $ (0.04) | $ 0.21 | $ 0.34 |
Diluted weighted average number of common shares | 19,233 | 17,526 | 17,310 |
Consolidated Statement of Other
Consolidated Statement of Other Comprehensive Income Statement - USD ($) $ in Thousands | 12 Months Ended | ||
Oct. 31, 2017 | Oct. 31, 2016 | Oct. 31, 2015 | |
Statement of Comprehensive Income [Abstract] | |||
Net income (loss) | $ (697) | $ 3,669 | $ 5,905 |
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, after Tax [Abstract] | |||
Amortization of net actuarial loss | 1,480 | 1,251 | 1,214 |
Actuarial net gain (loss) | 604 | (5,081) | 743 |
Asset net gain (loss) | 5,729 | (3,006) | (3,008) |
Income tax benefit (provision) | (3,001) | 2,986 | (387) |
Total defined benefit pension plans & other post retirement benefits, net of tax | 4,812 | (3,850) | (1,438) |
Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, Net of Tax [Abstract] | |||
Unrealized gain (loss) on marketable securities | 45 | (183) | (689) |
Income tax benefit (provision) | (250) | 58 | 248 |
Reclassification of other-than-temporary impairment losses on marketable securities included in net income (loss) | 669 | 0 | 0 |
Total marketable securities, net of tax | 464 | (125) | (441) |
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax [Abstract] | |||
Unrealized gain (loss) on interest rate swap agreements | 1,543 | (1,577) | (2,912) |
Income tax benefit (provision) | (1,151) | 111 | 861 |
Reclassification adjustments for settlement of derivatives included in net income | 1,401 | 1,530 | 433 |
Change in fair value of derivative instruments, net of tax | 1,793 | 64 | (1,618) |
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax [Abstract] | |||
Foreign currency translation gain (loss) | 7,156 | (3,032) | (9,671) |
Reclassification adjustments for settlement of foreign currency included in net income | 0 | 530 | 0 |
Unrealized gain (loss) on foreign currency translation | 7,156 | (2,502) | (9,671) |
Comprehensive income (loss), net | $ 13,528 | $ (2,744) | $ (7,263) |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | ||
Oct. 31, 2017 | Oct. 31, 2016 | Oct. 31, 2015 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | |||
Net income (loss) | $ (697) | $ 3,669 | $ 5,905 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation and amortization | 41,648 | 37,645 | 34,267 |
Amortization of deferred financing costs | 3,115 | 2,505 | 992 |
Asset impairment, net | 241 | 2,031 | 0 |
Restructuring | 4,420 | 0 | 0 |
Deferred income taxes | 4,174 | (2,704) | 4,263 |
Stock-based compensation expense | 1,698 | 1,072 | 1,025 |
(Gain) loss on sale of assets | 1,590 | (55) | 274 |
Other than temporary impairment on marketable securities | 695 | 0 | 0 |
Changes in operating assets and liabilities: | |||
Accounts receivable | (2,919) | 10,975 | (27,607) |
Inventories | (888) | (2,408) | 358 |
Prepaids and other assets | 5,375 | 14,476 | (8,665) |
Payables and other liabilities | 16,715 | (1,843) | (5,923) |
Accrued income taxes | 1,148 | 3,998 | (1,516) |
Net cash provided by operating activities | 76,315 | 69,361 | 3,373 |
CASH FLOWS FROM INVESTING ACTIVITIES: | |||
Capital expenditures | (48,395) | (28,324) | (39,376) |
Sale of (investment in) joint venture | 1,170 | (1,500) | 0 |
Acquisitions, net of cash acquired | 0 | 0 | 195 |
Proceeds from sale of assets | 7,605 | 1,508 | 11,480 |
Net cash used in investing activities | (39,620) | (28,316) | (27,701) |
CASH FLOWS FROM FINANCING ACTIVITIES: | |||
Payment of capital leases | (879) | (860) | (821) |
Proceeds from long-term borrowings | 221,600 | 145,400 | 153,900 |
Repayments of long-term borrowings | (296,770) | (186,301) | (121,589) |
Payment of deferred financing costs | (1,779) | (1,785) | (5,529) |
Proceeds from exercise of stock options | 78 | 0 | 159 |
Proceeds from the issuance of common stock | 40,227 | 0 | 0 |
Net cash (used for) provided by financing activities | (37,523) | (43,546) | 26,120 |
Effect of Exchange Rate on Cash and Cash Equivalents | 868 | (1,903) | (706) |
Net increase (decrease) in cash and cash equivalents | 40 | (4,404) | 1,086 |
Cash and cash equivalents at beginning of period | 8,696 | 13,100 | 12,014 |
Cash and cash equivalents at end of period | 8,736 | 8,696 | 13,100 |
Cash paid for interest | 12,432 | 15,801 | 9,373 |
Cash paid for (refund of) income taxes | 1,780 | (5,855) | 1,770 |
Capital equipment included in accounts payable | $ 4,239 | $ 5,604 | $ 4,225 |
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] |
Stockholders' equity, beginning balance at Oct. 31, 2014 | $ 140,425 | $ 172 | $ 68,035 | $ 109,099 | $ (36,881) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Net income (loss) | 5,905 | 0 | 0 | 5,905 | 0 |
Other comprehensive income, net of tax | (13,168) | 0 | 0 | 0 | (13,168) |
Restricted stock and exercise of stock options | 159 | 1 | 158 | 0 | 0 |
Issuance of common stock | 0 | ||||
Stock-based compensation cost | 1,025 | 0 | 1,025 | 0 | 0 |
Income tax effect on stock compensation | 116 | 0 | 116 | 0 | 0 |
Stockholders' equity, ending balance at Oct. 31, 2015 | 134,462 | 173 | 69,334 | 115,004 | (50,049) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Net income (loss) | 3,669 | 0 | 0 | 3,669 | 0 |
Other comprehensive income, net of tax | (6,413) | 0 | 0 | 0 | (6,413) |
Restricted stock and exercise of stock options | 0 | 3 | (3) | 0 | 0 |
Issuance of common stock | 0 | ||||
Stock-based compensation cost | 1,072 | 0 | 1,072 | 0 | 0 |
Stockholders' equity, ending balance at Oct. 31, 2016 | 132,790 | 176 | 70,403 | 118,673 | (56,462) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Net income (loss) | (697) | 0 | 0 | (697) | 0 |
Other comprehensive income, net of tax | 14,225 | 0 | 0 | 0 | 14,225 |
Restricted stock and exercise of stock options | 78 | 3 | 75 | 0 | 0 |
Issuance of common stock | 40,227 | 52 | 40,175 | 0 | 0 |
Stock-based compensation cost | 1,698 | 0 | 1,698 | 0 | 0 |
Stockholders' equity, ending balance at Oct. 31, 2017 | $ 188,321 | $ 231 | $ 112,351 | $ 117,976 | $ (42,237) |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Oct. 31, 2017 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | Summary of Significant Accounting Policies General: We are a leading global supplier of lightweighting, noise and vibration solutions to the automotive, commercial vehicle and industrial markets, capable of delivering solutions in aluminum, magnesium, steel and high-strength steel alloys to 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 OEMs. The Company has thirty-two wholly-owned subsidiaries at locations in Asia, Europe and North America for the fiscal year ended October 31, 2017 . 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 33.9% of the Company's outstanding shares of Common Stock as of October 31, 2017 , 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. and all wholly-owned subsidiaries. All significant intercompany transactions have been eliminated. Revenue Recognition: We recognize 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. We record 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. We enter into contracts with customers in the development of molds, dies and tools (collectively, "tooling") to be sold to such customers. We primarily record tooling revenues and costs net in cost of sales at the time of completion and final billing to the customer. 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 Shiloh and our customers and are recorded on a gross or net basis in accordance with current applicable revenue recognition accounting literature. Inventories: Inventories are valued at the lower of cost or market, using the first-in first-out ("FIFO") method. Pre-production and development costs: We enter into contractual agreements with certain customers for tooling. All such tooling contracts relate to parts that we will supply to customers under supply agreements. Tooling costs are capitalized in prepaid expenses and other assets we determined by the fact that tooling contracts are separate from standard production contracts. The classification in prepaid or other assets for tooling costs is based upon the period of reimbursement from the customer as either current or non-current. 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. Income Taxes: We utilize the asset and liability method in accounting for income taxes. Income tax expense includes U.S. and international 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. We assess 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 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 our tax liabilities also involves dealing with uncertainties in the application of complex tax laws and regulations. We recognize liabilities for uncertain income tax positions based on the Company’s estimate of whether, and the extent to which, additional taxes will be required. We report interest and penalties related to uncertain income tax positions as income taxes. Business Combinations: We include the results of operations of the businesses that it acquires as of the respective dates of acquisition. We allocate the fair value of the purchase price of our acquisitions to the tangible and intangible assets acquired, and liabilities assumed, based on their estimated fair values. The excess of the purchase price over the fair values of these identifiable assets and liabilities is recorded as goodwill. Intangible Assets: Intangible assets with definitive lives are amortized over their estimated useful lives. We amortize our acquired intangible assets with definitive lives on a straight-line basis over periods ranging from three months to 15 years. See Note 11 to the consolidated financial statements for a description of the current intangible assets and their estimated amortization expense. We perform analysis of indefinite-lived intangible assets which are included as a component of the annual impairment of long-lived assets. An impairment analysis of definite-lived intangible assets is performed when indicators of potential impairment exists. Goodwill: Goodwill, which represents the excess cost over the fair value of the net assets of businesses acquired, was $27,859 , net of foreign currency translation, as of October 31, 2017 , or 4.5% of total assets, and $27,490 , net of foreign currency translation, as of October 31, 2016 , or 4.4% of total assets. Goodwill is the excess of cost of an acquired entity over the amounts assigned to assets acquired and liabilities assumed in a business combination. Goodwill relates to and is assigned directly to specific reporting units. Goodwill is not amortized but is subject to impairment assessment. In accordance with ASC 350, "Intangibles-Goodwill and Other," we assess goodwill for impairment on an annual basis, or more frequently, if an event occurs or circumstances change that would more likely than not reduce the fair value below the carrying amount. Our annual impairment testing is performed as of September 30. Such assessment can be done on a qualitative or quantitative basis. When conducting a qualitative assessment, we consider relevant events and circumstances that affect the fair value or carrying amount of the reporting unit. A quantitative test is required only if we conclude that it is more likely than not that a reporting unit’s fair value is less than its carrying amount, or we elect not to perform a qualitative assessment of a reporting unit. We consider the extent to which each of the events and circumstances identified affect the comparison of the reporting unit's fair value or the carrying amount. Such events and circumstances could include macroeconomic conditions, industry and market considerations, overall financial performance, entity and reporting unit specific events, product brand level specific events and cost factors. We place more weight on the events and circumstances that may affect its determination of whether it is more likely than not that the fair value of the reporting unit is less than its carrying amount. These factors are all considered by management in reaching its conclusion about whether to perform a quantitative goodwill impairment test. We perform annual goodwill impairment test by comparing the fair value of a reporting unit to its carrying amount, including goodwill. If the carrying amount exceeds the fair value, we recognize an impairment charge for the amount by which the carrying amount exceeds the fair value, not to exceed the total amount of goodwill in that reporting unit. Share-based Payments: We record compensation expense for the fair value of nonvested stock option awards and restricted stock awards over the remaining vesting period. We have elected to use the simplified method to calculate the expected term of the stock options outstanding at five to six years and have utilized historical weighted average volatility. We determine 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 and four years. The Black-Scholes option valuation model requires the input of highly subjective assumptions, including the expected life of the stock-based award and stock price volatility. The assumptions used are management’s best estimates, but the estimates involve inherent uncertainties and the application of management judgment. As a result, if other assumptions had been used, the recorded stock-based compensation expense could have been materially different from that depicted in the financial statements. In addition, we do not estimate a forfeiture rate at the time of grant instead we elected to recognize share-based compensation expense when actual forfeitures occur. The restricted stock and restricted stock units are valued based upon a 20-day Exponential Moving Average as of the Friday prior to the grant of an award. In addition, we do not estimate a forfeiture rate at the time of grant instead we elected to recognize share-based compensation expense when actual forfeitures occur. We recognized an additional expense of $60 for the early adoption of ASU 2016-09. Employee Benefit Plans: We accrue the cost of U.S. defined benefit pension plans, which are frozen, in accordance with Statement of FASB 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, 2017, approximately 96% of our US employees of Shiloh participated in discretionary profit sharing plans administered by us. We also provide postretirement medical benefits to 12 former employees. Actual results that differ from these estimates may result in more or less future Company funding into the pension plans than is planned by management. Based on current market investment performance, historically we have conservatively contributed to the defined benefit plans and therefore contributions for fiscal 2017 are not required until the third quarter of 2018. Cash and Cash Equivalents: 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 Shiloh’s cash and cash equivalent bank balances exceeded federally insured limits at October 31, 2017 . Cash in foreign subsidiaries totaled $8,654 and $8,219 at October 31, 2017 and October 31, 2016 , respectively. Concentration of Risk: We sell products to customers primarily in the automotive, commercial vehicle and industrial markets. Financial instruments, which potentially subject us to concentration of credit risk, are primarily accounts receivable. We perform on-going credit evaluations of our 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. We do not have financial instruments with off-balance sheet risk. Refer to Note 21-Business Segment Information for discussion of concentration of revenues. We believe that the concentration of credit risk in our trade receivables is substantially mitigated by our ongoing credit evaluation process and relatively short collection terms. We do not generally require collateral from customers. We establish 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 our debt and derivative instruments are considered to approximate the fair value of these instruments based on the borrowing rates currently available to us for loans with similar terms and maturities. Derivative Financial Instruments: We use interest rate swaps to manage volatility of underlying exposures. We recognize all of our 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. We do not hold or issue derivative financial instruments for trading or speculative purposes. Our objective for holding derivatives is to minimize risk using the most effective and cost-efficient methods available. Foreign Currency Translation: Our functional currency is the U.S. dollar as a substantial part of our operations are based in the U.S. The financial statements of all subsidiaries with a functional currency other than the U.S. Dollar have been translated into U.S. Dollars. 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 (Loss) ("OCI"). We engage 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 operations. Guarantees: We have certain indemnification clauses within our Credit Agreement (as defined above) and certain lease agreements that are considered to be guarantees within the scope of ASC 460, " Guarantees ." We do not consider these guarantees to be probable, and we cannot estimate their maximum exposure. Additionally, our 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. Recent Accounting Pronouncements Standard Description Effective Date Effect on our financial statements and other significant matters ASU 2017-09 Compensation - Stock Compensation (Topic 718) This amendment clarifies when a change to the terms or conditions of a share-based payment award must be accounted for as a modification. The new guidance requires modification accounting if the fair value, vesting condition or the classification of the award is not the same immediately before and after a change to the terms and conditions of the award. The amendment should be adopted on a prospective basis. October 1, 2018 with early adoption permitted. We do not expect the adoption of these provisions to have a significant impact on the Company's consolidated financial statements as it is not our practice to change either the terms or conditions of share-based payment awards once they are granted. ASU 2017-07 Compensation - Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost This amendment requires the presentation of the service cost component of net benefit cost to be in the same line item as other compensation costs arising from services rendered by the pertinent employees during the period. All other components of net benefit cost should be presented separately from the service cost component and outside of a subtotal of earnings from operations, or separately disclosed. The amendments should be adopted on a retrospective basis. First quarter of fiscal year ending October 31, 2018. We do not expect the adoption of these provisions to have a significant impact on the Company's consolidated statement of financial position or financial statement disclosures. ASU 2017-04 Intangibles-Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment This amendment eliminates the need to determine the fair value of individual assets and liabilities of a reporting unit to measure a goodwill impairment. Goodwill impairment will now be the amount by which a reporting unit's carrying value exceeds its fair value. The amendment should be applied on a prospective basis. First quarter of fiscal year ending October 31, 2021 with early adoption permitted. We have early adopted these provisions during our third quarter of fiscal 2017 and any impact will be reflected in the Company's consolidated financial statements. ASU 2014-09 Revenue from Contracts with Customers The amendments require companies to 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. The amendments should be applied on either a full or modified retrospective basis, which clarifies existing accounting literature relating to how and when a company recognizes revenue. The FASB, through the issuance of ASU No. 2015-14, " Revenue from Contracts with Customers, " approved a one year delay of the effective date and permits two implementation approaches, one requiring retrospective application of the new standard with restatement of prior years and one requiring prospective application of the new standard with disclosure of results under old standards. During fiscal 2016, the FASB issued ASUs 2016-10, 2016-11 and 2016-12. Finally, ASU 2016-20 makes minor corrections or minor improvements to the Codification that are not expected to have a significant effect on current accounting practice or create a significant administrative cost to most entities. First quarter of fiscal year ending October 31, 2019 We are planning a bottom up approach to analyze the standard's impact on our revenues by looking at historical policies and practices and identifying the differences from applying the new standard to our revenue stream. While we have not yet identified any material changes in the timing of revenue recognition, our evaluation is ongoing and not complete. We have established a cross-functional coordinated team to implement the guidance related to the recognition of revenue from contracts with customers. We are in the process of assessing our customer contracts, identifying contractual provisions that may result in a change in the timing or the amount of revenue recognized in comparison with current guidance, as well as assessing the enhanced disclosure requirements of the new guidance. In addition, we have not selected a transition date or method nor have we determined the effect of the standard to our consolidated financial statements. ASU 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 This amendment's 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. First quarter of fiscal year ending October 31, 2017. We have adopted these provisions during our first quarter of fiscal 2017 and any impact will be reflected on the Company's consolidated financial statements. ASU 2016-02 Leases This amendment requires lessees to recognize a lease liability and a right-of-use asset on the balance sheet and aligns many of the underlying principles of the new lessor model with those in Accounting Standards Codification Topic 606, Revenue from Contracts with Customers. The standard requires a modified retrospective transition for capital and operating leases existing at or entered into after the beginning of the earliest comparative period presented in the financial statements, but it does not require transition accounting for leases that expire prior to the date of initial adoption. First quarter of fiscal year ending October 31, 2020 with early adoption permitted. We are currently evaluating the requirements of ASU 2016-02 and have not yet determined its impact on the Company's consolidated financial statements. ASU 2016-01 Recognition and Measurement of Financial Assets and Financial Liabilities This amendment addresses certain aspects of recognition, measurement, presentation and disclosure of financial instruments. Most prominent among the amendments is the requirement for changes in the fair value of the Company's equity investments, with certain exceptions, to be recognized through net income rather than other comprehensive income ("OCI"). The amendments should be applied by means of a cumulative-effect adjustment to the balance sheet in year of adoption. First quarter of fiscal year ending October 31, 2019 with early adoption permitted. We do not expect the adoption of these provisions to have a significant impact on the Company's consolidated statement of financial position or financial statement disclosures. ASU 2015-11 Inventory This amendment simplifies the measurement of inventory by requiring inventory to be measured at the lower of cost and net realizable value. The amendment should be applied on a prospective basis. First quarter of fiscal year ending October 31, 2018. We do not expect the adoption of these provisions to have a significant impact on the Company's consolidated statement of financial position or financial statement disclosures. |
Asset Impairment
Asset Impairment | 12 Months Ended |
Oct. 31, 2017 | |
Restructuring and Related Activities [Abstract] | |
Asset Impairment | Asset Impairment During fiscal 2017, we recorded an asset impairment charge of $200 on an asset held for sale within the Level 2 of the fair value hierarchy and asset impairment charges of $41 related to idled equipment. During fiscal 2016, we recorded an asset impairment charge of $273 to reduce the real property of our former Valley City Steel facility, an asset impairment charge of $1,282 on an asset held for sale within the Level 2 of the fair value hierarchy and $476 related to idled equipment. |
Restructuring
Restructuring | 12 Months Ended |
Oct. 31, 2017 | |
Restructuring and Related Activities [Abstract] | |
Restructuring Charges | Restructuring Charges During the fourth quarter of fiscal 2017 , management decided to idle a manufacturing facility located in Pendergrass, Georgia. The strategic decision will provide a more efficient and focused footprint allowing us to operate with lower fixed costs. We are anticipating that operations will be idled by the end of 2018 . Total restructuring costs related to the idling of the Pendergrass facility were $4,450 . These costs primarily included the impairment of the building and manufacturing equipment, employee-related costs, legal costs and other related costs. Also, during fiscal 2017, we incurred employee-related costs of $327 related to restructuring initiatives at our Dickson, Tennessee facility. We expect to incur approximately $4,000 of additional restructuring costs related to the Pendergrass facility initiated as of October 31, 2017 . Any future restructuring actions will depend upon market conditions, customer actions and other factors. The following table presents information about restructuring costs recorded in fiscal 2017 : October 31, 2017 Impairment of fixed assets Impairment of fixed assets $ 4,085 Employee costs 392 Legal and professional costs 270 Other 30 $ 4,777 The following table presents a rollforward of the beginning and ending liability balances related to the restructuring costs which are included in the consolidated balance sheets in other accrued expenses for the above-mentioned actions through October 31, 2017 : Balance as of October 31, 2016 Restructuring Expense Payments Balance as of October 31, 2017 Employee costs — 415 350 65 Legal and professional costs — 270 — 270 $ — $ 685 $ 350 $ 335 |
Marketable Securities Marketabl
Marketable Securities Marketable Securities | 12 Months Ended |
Oct. 31, 2017 | |
Marketable Securities [Abstract] | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | Marketable Securities On March 11, 2014, we entered into a manufacturing agreement with Velocys, plc ("Velocys"). As part of the agreement, we invested $2,000 , which is comprised of Velocys stock with a market value of $1,527 on the date of acquisition and a premium paid of $473 , which is being amortized. The agreement was terminated on March 30, 2017. In May 2017, we considered the decline in market value of our investment in Velocys to be other than temporary and recognized an other than temporary impairment loss of $695 , which was recorded within other expense in our consolidated statement of operations. |
Accounts Receivable
Accounts Receivable | 12 Months Ended |
Oct. 31, 2017 | |
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 $1,271 and $790 at October 31, 2017 and 2016 , respectively. We recognized bad debt expense of $493 and $210 during fiscal 2017 and 2015 , respectively, and recognized a benefit of $10 from recoveries of receivables previously expensed during fiscal 2016 , in the consolidated statements of operations. We continually monitor our exposure with our customers and additional consideration is given to individual accounts in light of the market conditions in the automotive, commercial vehicle and industrial markets. As a part of our working capital management, the Company entered into a factoring agreement with a third party financial institution ("institution") for the sale of certain accounts receivables with recourse. The activity under this agreement is accounted for as a sale of accounts receivables under ASC 860 "Transfers and Servicing". This agreement relates exclusively to the accounts receivables of certain Swedish customers. The amount sold varies each month based on the amount of underlying receivables and cash flow requirements of the Company. In addition, the agreement addresses events and conditions which may obligate us to immediately repay the institution the purchase price of the receivables sold. The total amount of accounts receivable factored was $7,567 as of October 31, 2017 . As these sales of accounts receivable are with recourse, $8,072 was recorded in accounts payable as of October 31, 2017 . The cost incurred on the sale of these receivables was immaterial for the fiscal years ended October 31, 2016 . The cost of selling these receivables is dependent upon the number of days between the sale date of the receivables and the date the client’s invoice is due and the interest rate. The expense associated with the sale of these receivables is recorded as a component of selling, general and administrative expense in the accompanying consolidated statements of operations. |
Inventories
Inventories | 12 Months Ended |
Oct. 31, 2017 | |
Inventory Disclosure [Abstract] | |
Inventories [Text Block] | Inventories Inventories consist of the following: October 31, 2017 2016 Raw materials $ 23,389 $ 26,367 Work-in-process 18,653 16,149 Finished goods 19,770 18,031 Total inventories $ 61,812 $ 60,547 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 $5,535 and $2,946 at October 31, 2017 and 2016 , respectively. |
Prepaid Expenses Prepaid Expens
Prepaid Expenses Prepaid Expenses | 12 Months Ended |
Oct. 31, 2017 | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | |
Other Current Assets [Text Block] | Prepaid expenses and other assets consist of the following: October 31, 2017 2016 Tooling (1) $ 13,629 $ 19,792 Prepaid expenses and other assets 14,089 10,694 Assets held for sale 6,300 6,500 Total $ 34,018 $ 36,986 (1) Development of molds, dies and tools (collectively, "tooling") related to new program awards that go into production over the next twelve months and are reimbursable by the customer upon successful delivery and approval of an engineered part. We invested in manufacturing equipment for one of our facilities. During the fourth quarter of fiscal 2016, we determined that a need no longer existed for this type of equipment and is currently recorded as a current asset held for sale. Based on the fair market value of the equipment, we recorded an impairment charge of of $200 in fiscal 2017 to properly reflect the $6,300 fair value of the equipment. In 2016, we recorded $1,282 of impairment related to this equipment - see Note 2 - Asset Impairment for further details. We are actively working with the supplier to identify a buyer. —Other Assets October 31, 2017 2016 Other assets consist of the following: Deferred financing costs, net $ 4,550 $ 6,098 Tooling 784 881 Investment in joint venture — 1,300 Other 2,615 4,417 Total $ 7,949 $ 12,696 Deferred financing costs are amortized over the term of the debt. During fiscal 2017 , 2016 , and 2015 , amortization of these costs amounted to $3,115 , $2,505 , and $992 , respectively. Accumulated amortization was $9,886 and $6,771 as of October 31, 2017 and 2016 , respectively. During fiscal years 2017 and 2016 , we capitalized $1,779 and $1,785 , respectively, of costs related to the Credit Agreement (as defined below). |
Other Assets
Other Assets | 12 Months Ended |
Oct. 31, 2017 | |
Deferred Costs and Other Assets Disclosure [Abstract] | |
Other Assets [Text Block] | Prepaid expenses and other assets consist of the following: October 31, 2017 2016 Tooling (1) $ 13,629 $ 19,792 Prepaid expenses and other assets 14,089 10,694 Assets held for sale 6,300 6,500 Total $ 34,018 $ 36,986 (1) Development of molds, dies and tools (collectively, "tooling") related to new program awards that go into production over the next twelve months and are reimbursable by the customer upon successful delivery and approval of an engineered part. We invested in manufacturing equipment for one of our facilities. During the fourth quarter of fiscal 2016, we determined that a need no longer existed for this type of equipment and is currently recorded as a current asset held for sale. Based on the fair market value of the equipment, we recorded an impairment charge of of $200 in fiscal 2017 to properly reflect the $6,300 fair value of the equipment. In 2016, we recorded $1,282 of impairment related to this equipment - see Note 2 - Asset Impairment for further details. We are actively working with the supplier to identify a buyer. —Other Assets October 31, 2017 2016 Other assets consist of the following: Deferred financing costs, net $ 4,550 $ 6,098 Tooling 784 881 Investment in joint venture — 1,300 Other 2,615 4,417 Total $ 7,949 $ 12,696 Deferred financing costs are amortized over the term of the debt. During fiscal 2017 , 2016 , and 2015 , amortization of these costs amounted to $3,115 , $2,505 , and $992 , respectively. Accumulated amortization was $9,886 and $6,771 as of October 31, 2017 and 2016 , respectively. During fiscal years 2017 and 2016 , we capitalized $1,779 and $1,785 , respectively, of costs related to the Credit Agreement (as defined below). |
Property, Plant and Equipment
Property, Plant and Equipment | 12 Months Ended |
Oct. 31, 2017 | |
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, 2017 2016 Land and improvements $ 11,416 $ 11,358 Buildings and improvements 124,406 117,291 Machinery and equipment 504,785 505,768 Furniture and fixtures 22,209 18,200 Construction in progress 40,356 37,612 Total, at cost 703,172 690,229 Less: Accumulated depreciation 436,281 424,392 Property, plant and equipment, net $ 266,891 $ 265,837 Depreciation expense was $39,389 , $35,387 , and $31,956 in fiscal 2017 , 2016 , and 2015 , respectively. During the years ended October 31, 2017 and 2016 , interest capitalized as part of property, plant and equipment was $793 and $370 , respectively. We had unpaid capital expenditures included in accounts payable of approximately $4,239 , $5,604 and $4,225 at October 31, 2017 , 2016 and 2015 , respectively, and consequently such amounts are excluded from capital expenditures in the accompanying consolidated statements of cash flows for the fiscal years 2017 and 2016 . Capital Leases: October 31, 2017 2016 Leased Property: Machinery and equipment $ 7,099 $ 7,295 Less: Accumulated depreciation $ 2,420 $ 1,781 Leased property, net $ 4,679 $ 5,514 Future minimum rental payments to be made under capital leases at October 31, 2017 are as follows: Twelve Months Ending October 31, 2018 $ 895 2019 624 2020 401 2021 $ 1,840 3,760 Plus amount representing interest ranging from 3.05% to 3.77% 373 Total obligations under capital leases $ 4,133 |
Financing Arrangements
Financing Arrangements | 12 Months Ended |
Oct. 31, 2017 | |
Debt Disclosure [Abstract] | |
Financing Arrangements | —Financing Arrangements Debt consists of the following: October 31, 2017 2016 Credit Agreement —interest at 3.88% and 5.14% at October 31, 2017 and October 31, 2016, respectively $ 178,200 $ 252,900 Equipment security note 482 996 Capital lease obligations 3,760 4,388 Insurance broker financing agreement 650 661 Total debt 183,092 258,945 Less: Current debt 2,027 2,023 Total long-term debt $ 181,065 $ 256,922 At October 31, 2017 , we had total debt, excluding capital leases, of $179,332 , consisting of a revolving line of credit under the Credit Agreement of floating rate debt of $178,200 , which considers interest rate swap arrangements in Note 10 and fixed rate debt of $1,132 . The weighted average interest rate of all debt was 4.51% and 4.90% for fiscal years 2017 and 2016 , respectively. Revolving Credit Facility: The Company and its subsidiaries are party to a Credit Agreement, dated October 25, 2013, as amended (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 The Huntington National Bank, N.A., as Co-Documentation Agents, and the other lender parties thereto. On October 31, 2017 , we executed the Amendment which among other things: provides for an aggregate availability of $350,000 , $275,000 of which is available to the Company through the Tranche A Facility and $75,000 of which is available to the Dutch borrower through the Tranche B Facility, and eliminates the scheduled reductions in such availability; increases the aggregate amount of incremental commitment increases allowed under the Credit Agreement to up to $150,000 subject to our pro forma compliance with financial covenants, the Administrative Agent’s approval and the Company obtaining commitments for any such increase. The Amendment extended the commitment period to October 31, 2022. On July 31, 2017, we executed the Seventh Amendment which modifies investments in subsidiaries and various cumulative financial covenant thresholds, in each case, under the Credit Agreement. The Seventh Amendment also enhances our ability to take advantage of customer supply chain finance programs. On October 28, 2016, we executed the Sixth Amendment which increases the permitted consolidated leverage ratio for periods beginning after July 31, 2016; increases the permitted consolidated fixed charge coverage ratio for periods beginning after April 30, 2017; modifies various baskets related to sale of accounts receivable, disposition of assets, sale-leaseback transactions and makes other ministerial updates. On October 30, 2015, we executed the Fifth Amendment which increased the permitted leverage ratio with periodic reductions beginning after July 30, 2016. In addition, the Fifth Amendment permitted various investments as well as up to $40,000 aggregate outstanding principal amount of subordinated indebtedness, subject to certain conditions. Finally, the Fifth Amendment provided for a consolidated fixed charge coverage ratio, and provided for up to $50,000 of capital expenditures by the Company and our subsidiaries throughout the year ending October 31, 2016, subject to certain quarterly baskets. On April 29, 2015, we executed the Fourth Amendment to the Credit Agreement that maintained the commitment period to September 29, 2019 and allowed for an incremental increase of $25,000 (or if certain ratios are met, $100,000 ) in the original revolving commitments of $360,000 , subject to our pro forma compliance with financial covenants, the administrative agent's approval, and the Company obtaining commitments for such increase. The Fourth Amendment included scheduled commitment reductions beginning after January 30, 2016 totaling $30,000 , allocated proportionately between the Aggregate Revolving A and B commitments. On April 30, 2016, the first committed reduction of $5,000 decreased the existing revolving commitment to $355,000 , subject to our pro forma compliance with financial covenants. Borrowings under the Credit Agreement bear interest, at our 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 3.0% and of 0.50% to 2.0% on base rate loans depending on our leverage ratio. The Credit Agreement contains customary restrictive and financial covenants, including covenants regarding our 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. We were in compliance with the financial covenants as of October 31, 2017 and October 31, 2016 . After considering letters of credit of $7,253 that we have issued, unused commitments under the Credit Agreement were $164,547 at October 31, 2017 . Borrowings under the Credit Agreement are collateralized by a first priority security interest in substantially all of the tangible and intangible property of the Company and our domestic subsidiaries and 65% of the stock of foreign subsidiaries. Other Debt: On August 1, 2017 , we entered into a finance agreement with an insurance broker for various insurance policies that bears interest at a fixed rate of 2.05% and requires monthly payments of $94 through May 2018 . As of October 31, 2017 , $650 of principal remained outstanding under this agreement and was classified as current debt in our consolidated balance sheets. On September 2, 2013, we 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, 2017 , $482 of principal remained outstanding under this agreement and was classified as current debt in our consolidated balance sheets. We maintain capital leases for equipment used in our manufacturing facilities with lease terms expiring between 2018 and 2021. As of October 31, 2017 , the present value of minimum lease payments under our capital leases amounted to $3,760 . Derivatives: On February 25, 2014, we 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 our 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 our future interest payments at 2.74% plus the applicable rate, as described above, on an amount of our 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 and the final notional amount of $25,000 commenced 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, we 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. We determined the mark-to-market adjustment for the interest rate swap to be a gain of $1,793 and $64 , net of tax, for the fiscal years ended October 31, 2017 and 2016 , respectively, which is reflected in other comprehensive income (loss). The base notional amounts of $25,000 each or $75,000 total that commenced during 2015 and 2016 resulted in additional interest expense of $1,401 , $1,530 , and $433 related to the interest rate swap settlements for the fiscal years ended October 31, 2017 , 2016 , and 2015 respectively. Scheduled repayments of debt for the next five years are listed below: Twelve Months Ending October 31, Credit Agreement Equipment Security Note Capital Lease Obligations Other Debt Total 2018 $ — $ 482 $ 895 $ 650 $ 2,027 2019 — — 624 — 624 2020 — — 401 — 401 2021 — — 1,840 — 1,840 2022 178,200 — — — 178,200 Total $ 178,200 $ 482 $ 3,760 $ 650 $ 183,092 |
Goodwill and Intangible Assets
Goodwill and Intangible Assets | 12 Months Ended |
Oct. 31, 2017 | |
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 must be reviewed for impairment annually, or more frequently if events and circumstances arise that suggest the asset may be impaired. We conduct our review for goodwill impairment on September 30 of each year. Goodwill impairment testing is performed at the reporting unit level. The fair value is compared to the carrying value including goodwill. If the carrying value exceeds the fair value, then goodwill impairment exists. We performed a quantitative assessment at the reporting unit level in 2017 and 2016 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, 2015 $ 27,992 Foreign currency translation and other (502 ) Balance October 31, 2016 27,490 Foreign currency translation and other 369 Balance October 31, 2017 $ 27,859 Intangibles: The changes in the carrying amount of finite-lived intangible assets for the years ended October 31, 2017 and 2016 are as follows: Customer Relationships Developed Technology Non-Compete Trade Name Trademark Total Balance October 31, 2015 $ 14,311 $ 3,540 $ 63 $ 1,500 $ 129 $ 19,543 Amortization expense (1,330 ) (772 ) (16 ) (123 ) (17 ) (2,258 ) Foreign currency translation (6 ) — — — — (6 ) Balance October 31, 2016 12,975 2,768 47 1,377 112 17,279 Amortization expense (1,332 ) (771 ) (16 ) (123 ) (17 ) (2,259 ) Foreign currency translation 5 — — — — 5 Balance October 31, 2017 $ 11,648 $ 1,997 $ 31 $ 1,254 $ 95 $ 15,025 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, 2017 Weighted Average Useful Life (years) Gross Carrying Value Net of Foreign Currency Accumulated Amortization Net Customer relationships 13.2 $ 17,569 $ (5,921 ) $ 11,648 Developed technology 7.3 5,007 (3,010 ) 1,997 Non-compete 2.3 824 (793 ) 31 Trade name 14.8 1,875 (621 ) 1,254 Trademark 10.0 166 (71 ) 95 Total intangible assets $ 25,441 $ (10,416 ) $ 15,025 October 31, 2016 Gross Carrying Value Net of Foreign Currency Accumulated Amortization Net Customer relationships $ 17,564 $ (4,589 ) $ 12,975 Developed technology 5,007 (2,239 ) 2,768 Non-compete 824 (777 ) 47 Trade name 1,875 (498 ) 1,377 Trademark 166 (54 ) 112 Total intangible assets $ 25,436 $ (8,157 ) $ 17,279 Total amortization expense for the years ended October 31, 2017 , 2016 and 2015 was $2,259 , $2,258 , and $2,295 , respectively. Amortization expense related to intangible assets for the following fiscal years ending is estimated to be as follows: 2018 $ 2,123 2019 1,716 2020 1,701 2021 1,701 2022 1,701 Thereafter 6,083 $ 15,025 |
Operating Leases
Operating Leases | 12 Months Ended |
Oct. 31, 2017 | |
Operating Leases [Abstract] | |
Operating Leases | Operating Leases We lease 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. Our operating leases are charged to expense over the lease term, on a straight-line basis. The longest lease term of our current leases extends to May 2029 . Rent expense under operating leases for fiscal years 2017 , 2016 , and 2015 was $11,147 , $9,544 and $8,449 , respectively. Future minimum lease payments under operating leases are as follows at October 31, 2017 : 2018 $ 11,328 2019 10,448 2020 9,076 2021 7,379 2022 3,121 Thereafter 3,885 Total commitments under non-cancelable operating leases $ 45,237 |
Pension and Other Postretiremen
Pension and Other Postretirement Benefits Disclosure | 12 Months Ended |
Oct. 31, 2017 | |
Employee Benefit Plans [Abstract] | |
Employee Benefit Plans [Text Block] | Employee Benefit Plans We maintain pension plans, which are frozen, covering our eligible employees. We also provide an unfunded postretirement health care benefit plan for 12 retirees and their dependents. The measurement date for our employee benefit plans coincides with our fiscal year end, October 31. Obligations and Funded Status U.S. Plans at October 31 Pension Benefits Other Post Retirement Benefits 2017 2016 2017 2016 Change in benefit obligation: Benefit obligation at beginning of year $ (90,784 ) $ (86,827 ) $ (372 ) $ (423 ) Interest cost (3,282 ) (3,566 ) (13 ) (16 ) Actuarial gain (loss) 576 (5,100 ) 28 20 Benefits paid 4,427 4,709 44 47 Benefit obligation at end of year (89,063 ) (90,784 ) (313 ) (372 ) Change in plan assets: Fair value of plan assets at beginning of year 64,458 66,655 — — Actual return on plan assets 9,184 1,562 — — Employer contributions — 950 44 47 Benefits paid (4,427 ) (4,709 ) (44 ) (47 ) Fair value of plan assets at end of year 69,215 64,458 — — Funded status, benefit obligations in excess of plan assets $ (19,848 ) $ (26,326 ) $ (313 ) $ (372 ) The above amounts are recorded in the liabilities section of the consolidated balance sheets as follows: Pension Benefits Other Post Retirement Benefits 2017 2016 2017 2016 Other accrued expenses (1) $ — $ (4,120 ) $ (38 ) $ (42 ) Long-term benefit liabilities (19,848 ) (22,206 ) (275 ) (330 ) Total $ (19,848 ) $ (26,326 ) $ (313 ) $ (372 ) (1) As pension assets exceed expected benefit payments over the next year, liabilities for the pension plan are considered long-term. Components of Net Periodic Benefit Cost U.S. Plans Pension Benefits Other Post Retirement Benefits 2017 2016 2015 2017 2016 2015 Interest cost $ 3,282 $ 3,566 $ 3,466 $ 13 $ 16 $ 24 Expected return on plan assets (3,455 ) (4,568 ) (4,698 ) — — — Amortization of net actuarial loss 1,508 1,239 1,186 10 12 28 Net periodic benefit cost $ 1,335 $ 237 $ (46 ) $ 23 $ 28 $ 52 We expect to recognize in the consolidated statements of operations the following amounts that will be amortized from accumulated other comprehensive loss in fiscal 2018 . Pension Benefits Other Post Retirement Benefits Amortization of net actuarial loss $ (1,311 ) $ (7 ) We have recognized the following cumulative pre-tax actuarial losses, prior service costs and transition obligations in accumulated other comprehensive loss: Pension Benefits Other Post Retirement Benefits 2017 2016 2017 2016 Net actuarial loss $ 43,982 $ 51,795 $ 84 $ 122 Recognized in accumulated other comprehensive loss $ 43,982 $ 51,795 $ 84 $ 122 Additional Information on U.S. Plans Pension Benefits Other Post Retirement Benefits 2017 2016 2017 2016 Increase (decrease) in minimum liability included in other comprehensive income (loss) $ (7,813 ) $ 6,867 $ (38 ) $ 31 Assumptions for U.S. Plans: Weighted-average assumptions used to determine benefit obligations at October 31 Pension Benefits Other Post Retirement Benefits 2017 2016 2015 2017 2016 2015 Discount rate 3.65 % 3.70 % 4.20 % 3.65 % 3.70 % 4.20 % Pension Benefits Other Post Retirement Benefits Weighted-average assumptions used to determine net periodic benefit costs for years ended October 31 2017 2016 2015 2017 2016 2015 Discount rate 3.70 % 4.20 % 4.00 % 3.70 % 3.70 % 4.00 % Expected long-term return on plan assets 6.50 % 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 2017 , the assumptions used to determine net periodic benefit costs were established at October 31, 2016 , while the assumptions used to determine the benefit obligations were established at October 31, 2017 We use 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. We determine 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. Our 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 2017 2016 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% 6.8% Year that the rate reaches the ultimate trend rate 2019 2018 Assumed healthcare cost trend rates have a significant effect on the amounts reported for the healthcare plan. Our 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, 2017 : One-Percentage Point Increase One-Percentage Point Decrease Effect on total of service and interest cost components $ 3 $ (3 ) Effect on post retirement obligation $ 23 $ (20 ) Plan Assets - U.S. Plan Assets We have established a targeted asset allocation percentage by asset category and rebalances the assets of each U.S. plan when pension contributions are funded. Our pension plan weighted-average asset allocations at October 31, 2017 and 2016 , by asset category and comparison to the target allocation percentage are as follows: Target Allocation Percentage Plan Assets at October 31, 2017 2016 Asset Category Equity securities 30-70% 60% 59% Debt securities 30-70% 34% 35% Real estate 0-10% 6% 6% Total 100% 100% Our investment policy for assets of the U.S. plans is to obtain a reasonable long-term return consistent with the level of risk assumed. We also seek to control the cost of funding the plans within prudent levels of risk through the investment of plan assets and we seek 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 we believe our 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 $69,215 at October 31, 2017 and $64,458 at October 31, 2016 measured at fair value on a recurring basis are summarized below: Fair Value Measurements Fair Value Measurements at October 31, 2017 Using at October 31, 2016 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 $ 16,778 $ 6,381 $ 12,904 $ 10,294 Market Small/Mid U.S. Equity 8,340 694 7,654 622 Market International Equity 9,169 — 6,420 — Market Fixed Income Money Market — 314 — — Market Government — — — 309 Market Corporate 18,876 4,513 17,738 4,571 Market Real Estate (Primarily Commercial) — 4,150 — 3,946 Market Total Investments $ 53,163 $ 16,052 $ 44,716 $ 19,742 Cash Flows Contributions We expect to contribute approximately $450 to our U.S. pension plans in fiscal 2018 . We were not required to fund the plan in fiscal 2017 . 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 2018 $ 4,620 $ 38 2019 4,380 37 2020 4,320 37 2021 4,310 26 2022 4,850 24 2023-2026 $ 25,080 $ 101 Non-U.S. Plans For our Swedish operations, the majority of the pension obligations are covered by insurance policies with insurance companies. Pension commitments in our Polish operations are $1,008 at the end of fiscal 2017 and $826 at the end of fiscal 2016 . The liability represents the present value of future obligations and is calculated on actuarial basis. The Polish operations recognized expense of $148 , $162 and $115 for the fiscal years ended October 31, 2017 , 2016 , and 2015 , respectively. The insurance contracts guarantee a minimum rate of return. We have 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, we maintain a number of defined contribution plans for our United States locations. Under the terms of the plans, eligible employees may contribute a selected percentage of their base pay. We match a percentage of the employees' contributions up to a stated percentage, subject to statutory limitations. We recorded an expense related to the matching program for the fiscal years ended 2017 , 2016 and 2015 of $4,310 , $3,959 and $3,845 , respectively. Labor Agreements As of October 31, 2017 , we had approximately 3,600 employees. Organized labor unions represent approximately 17% of the Company's U.S. hourly employees and approximately 92% of the Company's non-U.S. employees. Each of our unionized manufacturing facilities has its own labor agreement with its own expiration date. As a result, no contract expiration date affects more than one facility. |
Fair Value of Other Financial I
Fair Value of Other Financial Instruments Fair Value of Other Financial Instruments | 12 Months Ended |
Oct. 31, 2017 | |
Other Fair Value Financial Instruments [Abstract] | |
Other Fair Value Financial Instruments | Other Fair Value Financial Instruments The methods that we use may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. Furthermore, while we believe our 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, 2017 and 2016 are set forth in the table below: Asset (Liability) Level 1 Level 2 Valuation Technique October 31, 2016 Interest Rate Swap Contracts $ (5,036 ) $ — $ (5,036 ) Income Approach Marketable Securities 174 — 174 Income Approach October 31, 2017 Interest Rate Swap Contracts (2,088 ) — (2,088 ) Income Approach Marketable Securities $ 194 $ 194 $ — Market Approach We calculate the fair value of our 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 our counterparties. We calculate the fair value of our marketable securities by using the closing stock price on the last business day of the quarter. Assets measured at fair value on a nonrecurring basis at October 31, 2017 and 2016 were related to machinery and equipment of $200 and $1,758 , respectively. Refer to Note 2, Asset Impairment, for further information regarding these charges and the associated level of input. |
Common Stock Common Stock
Common Stock Common Stock | 12 Months Ended |
Oct. 31, 2017 | |
Equity Offering [Abstract] | |
Common Stock | Common Stock On July 19, 2017 , we issued 5,250 shares of common stock in connection with an equity offering. We raised a total of $40,227 , net of underwriting discounts and offering costs of $3,086 . The proceeds from the offering were used to repay outstanding indebtedness under our Credit Agreement. The shares were registered under the Securities Act of 1933, as amended, pursuant to a "shelf" registration statement on Form S-3, as amended, initially filed with the SEC on March 9, 2017 and declared effective as of March 24, 2017, with a proposed maximum aggregate offering price of $175,000 . |
Earnings Per Share
Earnings Per Share | 12 Months Ended |
Oct. 31, 2017 | |
Equity [Abstract] | |
Earnings Per Share [Text Block] | —Earnings Per Share Basic earnings per share is computed by dividing net income (loss) 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 restricted stock units and stock options outstanding under the 2016 Plan are included in the diluted earnings per share calculation to the extent they are dilutive. For the years ended October 31, 2017 , 2016 , and 2015 , approximately 68 , 53 , and 143 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, 2017 2016 2015 Net income (loss) available to common stockholders $ (697 ) $ 3,669 $ 5,905 Basic weighted average shares 19,233 17,513 17,287 Effect of dilutive securities: Restricted stock units and stock options (1) — 13 23 Diluted weighted average shares 19,233 17,526 17,310 Basic earnings (loss) per share $(0.04) $0.21 $0.34 Diluted earnings (loss) per share $(0.04) $0.21 $0.34 (1) Due to loss for the fiscal year ended October 31, 2017 , no restricted share awards and units are included because the effect would be anti-dilutive. |
Stock Incentive Compensation
Stock Incentive Compensation | 12 Months Ended |
Oct. 31, 2017 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Stock Options and Incentive Compensation | —Stock Incentive Compensation Stock Incentive Compensation falls under the scope of ASC 718 "Compensation – Stock Compensation" and affects the stock awards that have been granted and requires us to expense share-based payment ("SBP") awards with compensation cost for SBP transactions measured at fair value. For stock options, we have elected to use the simplified method of calculating the expected term 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. For restricted stock and restricted stock units, we are computing fair value based on a 20-day EMA as of the close of business the Friday preceding the award date. We do not estimate a forfeiture rate at the time of grant, instead we elected to recognize share-based compensation expense when actual forfeitures occur. 2016 Equity and Incentive Compensation Plan Long-Term/Annual Incentives On March 9, 2016, stockholders approved and adopted the 2016 Equity and Incentive Compensation Plan ("2016 Plan") which replaced the Amended and Restated 1993 Key Employee Stock Incentive Program. The 2016 Plan authorizes the Compensation Committee of the Board of Directors of the Company to grant to officers and other key employees, including directors, of the Company and our subsidiaries (i) option rights, (ii) appreciation rights, (iii) restricted shares, (iv) restricted stock units, (v) cash incentive awards, performance shares and performance units and (vi) other awards. An aggregate of 1,500 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, was reserved for issuance pursuant to the Incentive Plan. An individual’s award of options and / or appreciation rights is limited to 500 shares during any calendar year. Also, an individual's award of restricted shares, restricted share units and performance based awards is limited to 350 shares during any calendar year. The following table summarizes the Company's Incentive Plan activity during the years ended October 31, 2017 , 2016 , and 2015 : Stock Options Restricted Stock Restricted Stock Units Outstanding at: Options Weighted Average Exercise Price Weighted Average Remaining Contractual Life Restricted Shares 20 Day EMA Weighted Average Remaining Contractual Life Restricted Share Units 20 Day EMA Weighted Average Remaining Contractual Life November 1, 2014 123 $9.69 5.15 117 $16.81 2.58 — — Granted — — 84 11.22 — — Options exercised or restricted stock vested (19 ) 8.19 (69 ) 14.99 — — Forfeited or expired (13 ) 11.80 (8 ) 20.64 — — October 31, 2015 91 $9.70 4.10 124 $13.77 2.28 — — Granted — — 312 4.30 22 $4.17 Options exercised or restricted stock vested — — (54 ) 16.53 — — Forfeited or expired (1 ) 12.04 (6 ) 5.71 — — October 31, 2016 90 $9.67 3.04 376 $6.11 1.83 22 $4.17 1.46 Granted — — 247 7.94 29 8.62 Options exercised or restricted stock vested (8 ) 9.79 (174 ) 6.11 (14 ) 4.17 Forfeited or expired (24 ) 13.38 (8 ) 9.57 (1 ) 7.06 October 31, 2017 58 $8.16 2.53 441 $7.07 1.60 36 $7.69 1.82 We recorded stock compensation expense related to stock options, restricted stock and restricted stock units during the fiscal years ended October 31, 2017 , 2016 and 2015 as follows: 2017 2016 2015 Stock options $ — $ — $ 15 Restricted stock (1) 1,583 1,035 1,010 Restricted stock units 115 37 — Total $ 1,698 $ 1,072 $ 1,025 (1) Includes $60 of additional expense from the impact of early adopting ASU 2016-09 for the fiscal year ended October 31, 2017. Stock Options The exercise price of each stock option equals the market price of our common stock on its grant date. Compensation expense is recorded at the grant date fair value, adjusted for forfeitures as they occur, and is recognized on a straight-line basis over the applicable vesting period. Our stock options generally vest over three years, with a maximum term of ten years. Incentive stock options were not granted during fiscal years 2017 , 2016 , and 2015 . Cash received from the exercise of options for the fiscal years ended October 31, 2017 and 2015 was $78 and $159 , respectively. Stock options were not exercised during the fiscal year ended October 31, 2016 . At October 31, 2017 , the options outstanding and exercisable had an intrinsic value of $137 . Options that have an exercise price greater than the market price on October 31, 2017 were excluded from the intrinsic value computation. The intrinsic value of options exercised during fiscal 2017 and 2015 was $40 and $18 , respectively. Stock options were not exercised during the fiscal year ended October 31, 2016 . The following table provides additional information regarding options outstanding as of October 31, 2017 : Exercise Prices Options Outstanding Exercise Price of Options Outstanding and Options Exercisable Options Exercisable Weighted Average Remaining Contractual Life $2.11 8,000 $2.11 8,000 1.12 $5.30 18,166 $5.30 18,166 1.78 $12.04 26,000 $12.04 26,000 3.11 $8.10 6,000 $8.10 6,000 4.14 Totals 58,166 58,166 Restricted Stock Awards The grant date fair value of each restricted stock award equals the fair value of our common stock based on a 20-day EMA as of the close of business on the Friday preceding the award date. Compensation expense is recorded at the grant date fair value, adjusted for forfeitures as they occur, and is recognized over the applicable vesting periods. The vesting periods range between one to four years. As of October 31, 2017 , there was approximately $1,982 of total unrecognized compensation costs related to these restricted stock awards to be recognized over the next three fiscal years. Restricted Stock Units The grant date fair value of each restricted stock unit equals the fair value of our common stock based on a 20-day EMA as of the close of business on the Friday preceding the award date. Compensation expense is recorded at the grant date fair value, adjusted for forfeitures as they occur, and is recognized over the applicable vesting periods. The vesting periods range between one to three years. As of October 31, 2017 , there was approximately $181 of total unrecognized compensation expense related to these restricted stock units that is expected to be recognized over the next three fiscal years. Cash Incentive Award Agreements Under the provisions of the 2016 Plan, we granted certain awards pursuant to Cash Incentive Award Agreements to 12 executives on March 10, 2016. Additional awards were granted on December 14, 2016 to approximately 70 executives and director level employees. These awards were designed to provide the individuals with an incentive to participate in the long-term success and growth of the Company. The Cash Incentive Award Agreements provide for cash-based awards that vest upon payment. These awards are performance-based and are re-evaluated each period and assessed for the probability that the targets will be met. The awards granted on March 10, 2016 will be paid after October 31, 2019, if certain performance goals are achieved. The awards granted on December 14, 2016 will be paid after October 31, 2020, if certain performance goals are achieved. These awards are also subject to payment upon a change in control or termination of employment, if certain performance goals are achieved. One half of the awards will be based on 3-year return on capital employed and 3-year EBITDA as adjusted goals, which could range from 0% to 200% based on the achievement of performance goals. These awards represent unfunded, unsecured obligations of the Company. During fiscal year 2017 , we recorded expense related to these awards of $536 . At October 31, 2017 , we had a liability of $536 related to these awards and is presented as other accrued expenses in the consolidated balance sheets. Incentive Bonus Plans We maintain 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 year 2017 , the Compensation Committee established goals for participants based on the Company's earnings before interest, taxes, depreciation and amortization and return on capital employed. For fiscal year 2016 , the Compensation Committee established goals for participants based on the Company's earnings before interest, taxes, depreciation and amortization and return on invested capital and for fiscal year 2015 , the established goals for participants were based on the Company's earnings before interest, taxes, depreciation and amortization. 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. The MIP is accrued throughout the year based on forecast performance targets. For fiscal 2017, participants in the MIP received an aggregate bonus of $9,660 under the MIP, which will be paid in the first quarter of fiscal 2018. The aggregate bonus is included in the consolidated balance sheet in other accrued liabilities for the fiscal year ended October 31, 2017. For both fiscal 2016 and 2015 , the Company did not meet the established targets and therefore participants were not eligible for a bonus payout under the MIP. |
Income Taxes
Income Taxes | 12 Months Ended |
Oct. 31, 2017 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Income Taxes Income (loss) before income taxes consists of the following: Years Ended October 31, 2017 2016 2015 Domestic $ 4,251 $ 3,917 $ 17,063 Foreign 2,172 (5,400 ) (6,448 ) Total $ 6,423 $ (1,483 ) $ 10,615 The components of the provision (benefit) for income taxes from continuing operations were as follows: Years Ended October 31, 2017 2016 2015 Current: Federal $ 66 $ (3,900 ) $ (545 ) State and local 386 329 384 Foreign 2,494 1,123 608 Total current 2,946 (2,448) 447 Deferred: Federal 856 3,289 4,501 State and local (329 ) 156 208 Foreign 3,647 (6,149 ) (446 ) Total deferred 4,174 (2,704) 4,263 Provision (benefit) $ 7,120 $ (5,152 ) $ 4,710 Net deferred income tax assets (liabilities) included in the consolidated balance sheet consist of the tax effects of temporary differences related to the following: Years Ended October 31, 2017 2016 Deferred tax assets: Accrued compensation and benefits $ 1,793 $ 2,091 Inventory 1,721 646 State depreciation adjustments and loss carryforwards 4,213 2,664 Pension obligations and post retirement benefits 7,432 10,229 Foreign net operating loss 8,851 7,466 Other accruals, reserves and tax credits 3,070 3,668 Goodwill and intangible amortization 6,269 7,234 Foreign currency translation 30 75 Interest rate swap 771 1,922 Total deferred tax assets 34,150 35,995 Less: Valuation allowance (9,401) (2,782) Net deferred tax assets $ 24,749 $ 33,213 Deferred tax liabilities: Fixed assets $ (26,742 ) $ (26,800 ) Prepaid expenses and other (835) (1,173) Net deferred tax (liability) asset $ (2,828 ) $ 5,240 Change in net deferred tax asset: Benefit (provision) for deferred taxes $ (4,174 ) $ 2,704 Unrecognized tax benefit adjustments 453 (207 ) Components of other comprehensive income: Pension and post retirement benefits (3,001 ) 2,986 Velocys investment (250) 58 Interest rate swap (1,151 ) 111 Other adjustments 55 (27 ) Total change in net deferred tax asset $ (8,068 ) $ 5,625 As required by FASB ASC Topic 740, we recognize 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 2017 , 2016 , and 2015 are summarized below: Years Ended October 31, 2017 2016 2015 Balance at beginning of year $ 561 $ 731 $ 1,068 Additions based on tax positions related to the current year 88 48 125 Additions for tax positions of prior years 9 — 27 Reductions based on tax positions related to the current year — — (39 ) Reductions for tax positions of prior years — (53 ) — Reductions as result of lapse of applicable statute of limitations (118 ) (165 ) (450 ) Balance at end of year $ 540 $ 561 $ 731 The total amount of unrecognized tax benefits that, if recognized, would affect the effective rate was $355 at October 31, 2017 and $368 at October 31, 2016 . We recognize interest accrued and penalties related to unrecognized tax benefits as part of income tax expense. We recognized $102 of benefit in 2017 , $218 of benefit in 2016 and $163 of benefit in 2015 for interest and penalties. We had accrued $411 at October 31, 2017 and $513 at October 31, 2016 for the payment of interest and penalties. We are 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, we are 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. We do 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. During the third quarter of fiscal 2017 , we established a full valuation allowance of $3,124 against deferred tax assets of the Mexican operations in Saltillo. The valuation allowance as of October 31, 2017 was $3,831 . A valuation allowance of $9,401 remains as of October 31, 2017 for deferred tax assets whose realization remains uncertain. The comparable amount of the valuation allowance at October 31, 2016 was $2,782 . The net increase in the valuation allowance of $6,619 relates to an increase of $1,636 related to state operating loss carry forwards, an increase of $3,831 related to Mexican operating loss carry forwards and other deferred tax assets, an increase of $707 related to Netherlands operating loss carry forwards, an increase of $369 related to China operating loss carry forwards, an increase of $33 related to Hong Kong operating loss carry forwards, and an increase of $43 related to Swedish operating loss carry forwards. We assess both negative and positive evidence when measuring the need for a valuation allowance. A valuation allowance has been established 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. We believe 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. We intend 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 we 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 we 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 income tax expense / (benefit) from operations and the U.S. Federal statutory income tax expense were as follows: Years Ended October 31, 2017 2016 2015 Taxes at U.S. federal statutory rate $ 2,248 $ (519 ) $ 3,715 State and local income taxes, net of federal benefit (1,639 ) 65 499 Valuation allowance change 5,749 (5,452 ) 1,337 Domestic tax credits (803 ) (930 ) (223 ) Domestic production activities deduction (455 ) (391 ) (340 ) Foreign operations 1,182 2,240 1,401 Adjustment of uncertain tax positions (83 ) (173 ) (340 ) Provision to return adjustment for tax law extensions subsequent to year-end 285 202 (1,380 ) Other 636 (194 ) 41 Total income tax expense (benefit) $ 7,120 $ (5,152 ) $ 4,710 At October 31, 2017 , we had operating loss carry forwards of $103,689 in Sweden, Netherlands, China, Hong Kong, Mexico and certain U.S. states. The Swedish foreign operating loss carry forward benefit is $5,898 which can be carried forward indefinitely. There is a partial valuation allowance against it, in the amount of $43 , for activities related to Shiloh Industries China Holding. The foreign operating loss carry forward benefit for the Netherlands is $742 and has a full valuation allowance against it. This benefit can be carried forward for nine years. The Chinese operating loss carry forward benefit is $742 and has a full valuation allowance against it. This benefit can be carried forward for five years. The Hong Kong operating loss carry forward benefit is $85 and has a full valuation allowance against it. This benefit can be carried forward indefinitely. In addition, we had Mexican foreign operating loss carry forwards of approximately $1,384 as of October 31, 2017 , which will expire between 2019 and 2026. A full valuation allowance was established against the Mexican operating loss carry forward benefit during the year. Domestically, we had various state net operating loss carryforward benefits. As of October 31, 2017 and 2016 , we had state net operating loss carry forward benefits of $3,711 and $2,138 with a valuation allowance of $3,711 and $2,075 , respectively that will expire between 2018 and 2037. The table below summarizes the various country operating losses, credit carry forwards and associated valuation allowances as of October 31, 2017 and 2016 : October 31, 2017 October 31, 2016 Jurisdiction Gross NOL Carryforward NOL Tax Effected Valuation Allowance Gross NOL Carryforward NOL Tax Effected Valuation Allowance Netherlands $ 3,711 $ 742 $ 742 $ 174 $ 35 $ 35 Sweden 26,811 5,898 43 27,271 6,000 — China 2,968 742 742 1,494 373 373 Hong Kong 338 85 85 206 51 51 Mexico 4,614 1,384 1,384 3,358 1,007 — U.S. (State) 65,247 3,711 3,711 39,331 2,138 2,075 Total before Foreign Tax Credit $ 103,689 $ 12,562 $ 6,707 $ 71,834 $ 9,604 $ 2,534 U.S. Federal (Foreign Tax Credit) — — 248 — — 248 Total $ 103,689 $ 12,562 $ 6,955 $ 71,834 $ 9,604 $ 2,782 We paid income taxes, net of refunds, of $1,780 in 2017 and had a net income tax refund of $5,855 in 2016 . U.S. income taxes and foreign withholding taxes are not provided on undistributed earnings of foreign subsidiaries because such earnings are permanently reinvested in the operations. As of October 31, 2017 , there was approximately $19,282 of undistributed foreign subsidiary earnings. The income tax liability that would result had such earnings been repatriated is estimated at $6,749 . On December 22, 2017, President Trump signed U.S. tax reform legislation. Given this date of enactment, our financial statements for the year ended October 31, 2017 do not reflect the impact of this legislation. We are currently undergoing an analysis of the tax reform law and its impact to the financial statements and tax footnote disclosures. We are also evaluating if the tax reform law will impact the realizability of deferred tax assets and carryforwards. A more detailed analysis will be completed in our quarterly report for the period in which the law was enacted. |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Loss Accumulated Other Comprehensive Loss | 12 Months Ended |
Oct. 31, 2017 | |
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 (2) Foreign Currency Translation Adjustment (3) Accumulated Other Comprehensive Loss Balance at October 31, 2015 $ (28,809 ) $ (341 ) $ (3,176 ) $ (17,723 ) $ (50,049 ) Other comprehensive loss (8,087 ) (125 ) (1,466 ) (3,031 ) (12,709 ) Amounts reclassified from accumulated other comprehensive loss, net of tax 4,237 — 1,530 529 6,296 Net current-period other comprehensive income (loss) (3,850 ) (125 ) 64 (2,502 ) (6,413 ) Balance at October 31, 2016 $ (32,659 ) $ (466 ) $ (3,112 ) $ (20,225 ) $ (56,462 ) Other comprehensive income 6,333 29 392 7,156 13,910 Amounts reclassified from accumulated other comprehensive loss, net of tax (1,521 ) 435 1,401 — 315 Net current-period other comprehensive income 4,812 464 1,793 7,156 14,225 Balance at October 31, 2017 $ (27,847 ) $ (2 ) $ (1,319 ) $ (13,069 ) $ (42,237 ) (1) Amounts reclassified from accumulated other comprehensive loss, net of tax are classified with manufacturing expenses included in cost of goods sold on the statements of operations. (2) Amounts reclassified from accumulated other comprehensive income loss, net of tax are classified with interest expense included on the statements of operations. (3) Amounts reclassified from accumulated other comprehensive income loss, net of tax are classified with other expense, net included on the statements of operations. |
Related Party Transaction
Related Party Transaction | 12 Months Ended |
Oct. 31, 2017 | |
Related Party Transactions [Abstract] | |
Related Party Transactions [Text Block] | —Related Party Transactions We had sales to MTD Products Inc. and its affiliates of $5,129 , $5,730 , and $6,411 for fiscal years 2017 , 2016 , and 2015 , respectively. At October 31, 2017 and 2016 , we had receivable balances of $759 and $1,235 , respectively, due from MTD Products Inc. and its affiliates. |
Business Segment Information
Business Segment Information | 12 Months Ended |
Oct. 31, 2017 | |
Segment Reporting [Abstract] | |
Business Segment Information [Text Block] | Business Segment Information We conduct our business and report our information as one operating segment - Automotive and Commercial Vehicles. Our chief operating decision maker has been identified as the executive leadership team, which includes certain Vice Presidents, all Senior Vice Presidents plus the Chief Executive Officer of the Company. This team has the final authority over performance assessment and resource allocation decisions. In determining that one operating segment is appropriate, we 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 in the table below are attributed to external customers based upon the location of the entity recording the sale. These foreign revenues represent 19.5% , 16.7% , and 15.9% of total revenues for fiscal years 2017 , 2016 and 2015 , respectively. Long-lived assets in the table below consist primarily of net property, plant and equipment, goodwill and intangibles. Revenues Long-Lived Assets 2017 2016 2015 2017 2016 2015 United States $ 839,013 $ 888,164 $ 901,182 $ 235,663 $ 243,225 $ 265,579 Europe 169,398 143,281 132,094 53,569 48,709 41,695 Rest of World 33,575 34,389 39,776 20,543 18,672 19,484 Total Company $ 1,041,986 $ 1,065,834 $ 1,073,052 $ 309,775 $ 310,606 $ 326,758 The foreign currency loss in the table below is included as a component of other expense in the consolidated statements of operations. Foreign Currency Loss 2017 2016 2015 Europe $ (473 ) $ (802 ) $ (23 ) Rest of World $ (622 ) $ (772 ) $ (483 ) The table below details customers that accounted for more than 10% of our revenues in fiscal 2017 , 2016 and 2015 : Revenues Customer 2017 2016 2015 General Motors 17.9 % 18.2 % 15.5 % FCA 15.0 % 17.1 % 17.4 % |
Quarterly Results of Operations
Quarterly Results of Operations | 12 Months Ended |
Oct. 31, 2017 | |
Quarterly Financial Information Disclosure [Abstract] | |
Quarterly Results of Operations | Quarterly Results of Operations (Unaudited) (amounts in thousands except per share data) The following is a summary of our consolidated quarterly results for each of the fiscal years ended October 31, 2017 and 2016 : For the Year Ended October 31, 2017 First Quarter Second Quarter Third Quarter Fourth Quarter Net revenues $247,938 $273,031 $256,847 $264,170 Gross profit 23,800 33,216 28,855 27,912 Operating income (loss) 3,006 10,957 7,039 2,712 Provision (benefit) for income taxes (76 ) 2,323 4,439 434 Net income (loss) $(2,018) $4,229 $(1,982) $(926) Net income (loss) per share basic $(0.11) $0.24 $(0.11) $(0.04) Net income (loss) per share diluted $(0.11) $0.24 $(0.11) $(0.04) Weighted average number of shares: Basic 17,720 17,858 18,559 23,055 Diluted 17,720 17,888 18,559 23,055 For the Year Ended October 31, 2016 First Quarter Second Quarter Third Quarter Fourth Quarter Net revenues $251,055 $284,264 $248,832 $281,683 Gross profit 15,889 26,281 23,910 30,096 Operating income (loss) (2,292) 8,724 5,798 6,240 Provision for income taxes (1,911 ) 364 1,344 (4,949 ) Net income (loss) $(5,127) $4,209 $(678) $5,265 Net income (loss) per share basic $(0.30) $0.24 $(0.04) $0.31 Net income (loss) per share diluted $(0.30) $0.24 $(0.04) $0.31 Weighted average number of shares: Basic 17,342 17,615 17,614 17,614 Diluted 17,342 17,620 17,614 17,629 |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Oct. 31, 2017 | |
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 our officers (the President and Chief Executive Officer and Vice President of Finance and Treasurer). As amended, the lawsuit claims in part that we issued inaccurate information to investors about, among other things, our earnings and income and our internal controls over financial reporting for fiscal 2014 and the first and second fiscal quarters of 2015 in violation of the Securities Exchange Act of 1934. The amended complaint seeks an award of damages in an unspecified amount on behalf of a putative class consisting of persons who purchased our common stock between January 12, 2015 and September 14, 2015, inclusive. The Company and such officers filed a Motion to Dismiss this lawsuit with the United States District Court for the Southern District of New York on April 18, 2016. The District Court rendered an opinion and order granting our motion to dismiss the lawsuit on March 23, 2017. On April 6, 2017, the plaintiffs filed a motion for reconsideration of the dismissal order. We, in opposition to the plaintiff's motion, filed a motion for consideration of the dismissal on April 20, 2017 and the plaintiffs filed a reply motion in opposition for reconsideration on April 27, 2017. On July 7, 2017, the District Court denied the Plaintiffs’ request to vacate the District Court’s March 23, 2017 order of dismissal and granted the Plaintiff’s request to further amend their complaint. The Plaintiffs filed their Second Amended Complaint on August 4, 2017. We filed our Motion to Dismiss the Second Amended Compliant on August 18, 2017. The Plaintiffs’ filed their opposition brief on November 2, 2017 and we filed our reply in support of defendants’ motion to dismiss the second amended complaint on November 22, 2017. A shareholder derivative lawsuit was filed on April 1, 2016 in the Court of Common Pleas, Medina County, Ohio against the Company's President and Chief Executive Officer and Vice President of Finance and Treasurer and members of our Board of Directors. The lawsuit claims in part that the defendants breached their fiduciary duties owed to the Company by failing to exercise appropriate oversight over our accounting controls, leading to the accounting issues and the restatement announced in September 2015. The complaint seeks a judgment against the individual defendants and in favor of the Company for money damages, plus miscellaneous non-monetary relief. On May 2, 2016, the Court entered a stipulated order staying this case pending the outcome of the Motion to Dismiss in the securities class action lawsuit described in the previous paragraph. In addition, from time to time, we are involved in legal proceedings, claims or investigations that are incidental to the conduct of its business. We vigorously defend ourselves against such claims. In future periods, we 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, we do not expect that our legal proceedings or claims will have a material impact on our future consolidated financial condition, results of operations or cash flows. |
Summary of Significant Accoun31
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Oct. 31, 2017 | |
Accounting Policies [Abstract] | |
Principles of Consolidation | Principles of Consolidation: The consolidated financial statements include the accounts of Shiloh Industries, Inc. and all wholly-owned subsidiaries. All significant intercompany transactions have been eliminated. |
Revenue Recognition | Revenue Recognition: We recognize 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. We record 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. We enter into contracts with customers in the development of molds, dies and tools (collectively, "tooling") to be sold to such customers. We primarily record tooling revenues and costs net in cost of sales at the time of completion and final billing to the customer. 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 Shiloh and our customers and are recorded on a gross or net basis in accordance with current applicable revenue recognition accounting literature. |
Inventories | Inventories: Inventories are valued at the lower of cost or market, using the first-in first-out ("FIFO") method. |
Pre-production and Development Costs | Pre-production and development costs: We enter into contractual agreements with certain customers for tooling. All such tooling contracts relate to parts that we will supply to customers under supply agreements. Tooling costs are capitalized in prepaid expenses and other assets we determined by the fact that tooling contracts are separate from standard production contracts. The classification in prepaid or other assets for tooling costs is based upon the period of reimbursement from the customer as either current or non-current. |
Property, Plant and Equipment | 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. |
Income Taxes | Income Taxes: We utilize the asset and liability method in accounting for income taxes. Income tax expense includes U.S. and international 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. We assess 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 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 our tax liabilities also involves dealing with uncertainties in the application of complex tax laws and regulations. We recognize liabilities for uncertain income tax positions based on the Company’s estimate of whether, and the extent to which, additional taxes will be required. We report interest and penalties related to uncertain income tax positions as income taxes. |
Business Combinations | Business Combinations: We include the results of operations of the businesses that it acquires as of the respective dates of acquisition. We allocate the fair value of the purchase price of our acquisitions to the tangible and intangible assets acquired, and liabilities assumed, based on their estimated fair values. The excess of the purchase price over the fair values of these identifiable assets and liabilities is recorded as goodwill. |
Intangible Assets | Intangible Assets: Intangible assets with definitive lives are amortized over their estimated useful lives. We amortize our acquired intangible assets with definitive lives on a straight-line basis over periods ranging from three months to 15 years. See Note 11 to the consolidated financial statements for a description of the current intangible assets and their estimated amortization expense. We perform analysis of indefinite-lived intangible assets which are included as a component of the annual impairment of long-lived assets. An impairment analysis of definite-lived intangible assets is performed when indicators of potential impairment exists. |
Goodwill | Goodwill: Goodwill, which represents the excess cost over the fair value of the net assets of businesses acquired, was $27,859 , net of foreign currency translation, as of October 31, 2017 , or 4.5% of total assets, and $27,490 , net of foreign currency translation, as of October 31, 2016 , or 4.4% of total assets. |
Share-based Payments | Share-based Payments: We record compensation expense for the fair value of nonvested stock option awards and restricted stock awards over the remaining vesting period. We have elected to use the simplified method to calculate the expected term of the stock options outstanding at five to six years and have utilized historical weighted average volatility. We determine 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 and four years. The Black-Scholes option valuation model requires the input of highly subjective assumptions, including the expected life of the stock-based award and stock price volatility. The assumptions used are management’s best estimates, but the estimates involve inherent uncertainties and the application of management judgment. As a result, if other assumptions had been used, the recorded stock-based compensation expense could have been materially different from that depicted in the financial statements. In addition, we do not estimate a forfeiture rate at the time of grant instead we elected to recognize share-based compensation expense when actual forfeitures occur. The restricted stock and restricted stock units are valued based upon a 20-day Exponential Moving Average as of the Friday prior to the grant of an award. In addition, we do not estimate a forfeiture rate at the time of grant instead we elected to recognize share-based compensation expense when actual forfeitures occur. We recognized an additional expense of $60 for the early adoption of ASU 2016-09. |
Employee Benefit Plans | Employee Benefit Plans: We accrue the cost of U.S. defined benefit pension plans, which are frozen, in accordance with Statement of FASB 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, 2017, approximately 96% of our US employees of Shiloh participated in discretionary profit sharing plans administered by us. We also provide postretirement medical benefits to 12 former employees. Actual results that differ from these estimates may result in more or less future Company funding into the pension plans than is planned by management. Based on current market investment performance, historically we have conservatively contributed to the defined benefit plans and therefore contributions for fiscal 2017 are not required until the third quarter of 2018. |
Cash and Cash Equivalents | Cash and Cash Equivalents: 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 Shiloh’s cash and cash equivalent bank balances exceeded federally insured limits at October 31, 2017 . Cash in foreign subsidiaries totaled $8,654 and $8,219 at October 31, 2017 and October 31, 2016 , respectively. |
Concentration of Risk | Concentration of Risk: We sell products to customers primarily in the automotive, commercial vehicle and industrial markets. Financial instruments, which potentially subject us to concentration of credit risk, are primarily accounts receivable. We perform on-going credit evaluations of our 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. We do not have financial instruments with off-balance sheet risk. Refer to Note 21-Business Segment Information for discussion of concentration of revenues. We believe that the concentration of credit risk in our trade receivables is substantially mitigated by our ongoing credit evaluation process and relatively short collection terms. We do not generally require collateral from customers. We establish 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 | 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 our debt and derivative instruments are considered to approximate the fair value of these instruments based on the borrowing rates currently available to us for loans with similar terms and maturities. |
Derivative Financial Instruments | Derivative Financial Instruments: We use interest rate swaps to manage volatility of underlying exposures. We recognize all of our 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. We do not hold or issue derivative financial instruments for trading or speculative purposes. Our objective for holding derivatives is to minimize risk using the most effective and cost-efficient methods available. |
Foreign Currency Translation | Foreign Currency Translation: Our functional currency is the U.S. dollar as a substantial part of our operations are based in the U.S. The financial statements of all subsidiaries with a functional currency other than the U.S. Dollar have been translated into U.S. Dollars. 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 (Loss) ("OCI"). We engage 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 operations. |
Guarantees | Guarantees: We have certain indemnification clauses within our Credit Agreement (as defined above) and certain lease agreements that are considered to be guarantees within the scope of ASC 460, " Guarantees ." We do not consider these guarantees to be probable, and we cannot estimate their maximum exposure. Additionally, our exposure to warranty-related obligations is not material. |
Accounting Estimates | 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. |
Recent Accounting Pronouncements | Recent Accounting Pronouncements Standard Description Effective Date Effect on our financial statements and other significant matters ASU 2017-09 Compensation - Stock Compensation (Topic 718) This amendment clarifies when a change to the terms or conditions of a share-based payment award must be accounted for as a modification. The new guidance requires modification accounting if the fair value, vesting condition or the classification of the award is not the same immediately before and after a change to the terms and conditions of the award. The amendment should be adopted on a prospective basis. October 1, 2018 with early adoption permitted. We do not expect the adoption of these provisions to have a significant impact on the Company's consolidated financial statements as it is not our practice to change either the terms or conditions of share-based payment awards once they are granted. ASU 2017-07 Compensation - Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost This amendment requires the presentation of the service cost component of net benefit cost to be in the same line item as other compensation costs arising from services rendered by the pertinent employees during the period. All other components of net benefit cost should be presented separately from the service cost component and outside of a subtotal of earnings from operations, or separately disclosed. The amendments should be adopted on a retrospective basis. First quarter of fiscal year ending October 31, 2018. We do not expect the adoption of these provisions to have a significant impact on the Company's consolidated statement of financial position or financial statement disclosures. ASU 2017-04 Intangibles-Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment This amendment eliminates the need to determine the fair value of individual assets and liabilities of a reporting unit to measure a goodwill impairment. Goodwill impairment will now be the amount by which a reporting unit's carrying value exceeds its fair value. The amendment should be applied on a prospective basis. First quarter of fiscal year ending October 31, 2021 with early adoption permitted. We have early adopted these provisions during our third quarter of fiscal 2017 and any impact will be reflected in the Company's consolidated financial statements. ASU 2014-09 Revenue from Contracts with Customers The amendments require companies to 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. The amendments should be applied on either a full or modified retrospective basis, which clarifies existing accounting literature relating to how and when a company recognizes revenue. The FASB, through the issuance of ASU No. 2015-14, " Revenue from Contracts with Customers, " approved a one year delay of the effective date and permits two implementation approaches, one requiring retrospective application of the new standard with restatement of prior years and one requiring prospective application of the new standard with disclosure of results under old standards. During fiscal 2016, the FASB issued ASUs 2016-10, 2016-11 and 2016-12. Finally, ASU 2016-20 makes minor corrections or minor improvements to the Codification that are not expected to have a significant effect on current accounting practice or create a significant administrative cost to most entities. First quarter of fiscal year ending October 31, 2019 We are planning a bottom up approach to analyze the standard's impact on our revenues by looking at historical policies and practices and identifying the differences from applying the new standard to our revenue stream. While we have not yet identified any material changes in the timing of revenue recognition, our evaluation is ongoing and not complete. We have established a cross-functional coordinated team to implement the guidance related to the recognition of revenue from contracts with customers. We are in the process of assessing our customer contracts, identifying contractual provisions that may result in a change in the timing or the amount of revenue recognized in comparison with current guidance, as well as assessing the enhanced disclosure requirements of the new guidance. In addition, we have not selected a transition date or method nor have we determined the effect of the standard to our consolidated financial statements. ASU 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 This amendment's 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. First quarter of fiscal year ending October 31, 2017. We have adopted these provisions during our first quarter of fiscal 2017 and any impact will be reflected on the Company's consolidated financial statements. ASU 2016-02 Leases This amendment requires lessees to recognize a lease liability and a right-of-use asset on the balance sheet and aligns many of the underlying principles of the new lessor model with those in Accounting Standards Codification Topic 606, Revenue from Contracts with Customers. The standard requires a modified retrospective transition for capital and operating leases existing at or entered into after the beginning of the earliest comparative period presented in the financial statements, but it does not require transition accounting for leases that expire prior to the date of initial adoption. First quarter of fiscal year ending October 31, 2020 with early adoption permitted. We are currently evaluating the requirements of ASU 2016-02 and have not yet determined its impact on the Company's consolidated financial statements. ASU 2016-01 Recognition and Measurement of Financial Assets and Financial Liabilities This amendment addresses certain aspects of recognition, measurement, presentation and disclosure of financial instruments. Most prominent among the amendments is the requirement for changes in the fair value of the Company's equity investments, with certain exceptions, to be recognized through net income rather than other comprehensive income ("OCI"). The amendments should be applied by means of a cumulative-effect adjustment to the balance sheet in year of adoption. First quarter of fiscal year ending October 31, 2019 with early adoption permitted. We do not expect the adoption of these provisions to have a significant impact on the Company's consolidated statement of financial position or financial statement disclosures. ASU 2015-11 Inventory This amendment simplifies the measurement of inventory by requiring inventory to be measured at the lower of cost and net realizable value. The amendment should be applied on a prospective basis. First quarter of fiscal year ending October 31, 2018. We do not expect the adoption of these provisions to have a significant impact on the Company's consolidated statement of financial position or financial statement disclosures. |
Summary of Significant Accoun32
Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Oct. 31, 2017 | |
Accounting Policies [Abstract] | |
Schedule of New Accounting Pronouncements and Changes in Accounting Principles | Recent Accounting Pronouncements Standard Description Effective Date Effect on our financial statements and other significant matters ASU 2017-09 Compensation - Stock Compensation (Topic 718) This amendment clarifies when a change to the terms or conditions of a share-based payment award must be accounted for as a modification. The new guidance requires modification accounting if the fair value, vesting condition or the classification of the award is not the same immediately before and after a change to the terms and conditions of the award. The amendment should be adopted on a prospective basis. October 1, 2018 with early adoption permitted. We do not expect the adoption of these provisions to have a significant impact on the Company's consolidated financial statements as it is not our practice to change either the terms or conditions of share-based payment awards once they are granted. ASU 2017-07 Compensation - Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost This amendment requires the presentation of the service cost component of net benefit cost to be in the same line item as other compensation costs arising from services rendered by the pertinent employees during the period. All other components of net benefit cost should be presented separately from the service cost component and outside of a subtotal of earnings from operations, or separately disclosed. The amendments should be adopted on a retrospective basis. First quarter of fiscal year ending October 31, 2018. We do not expect the adoption of these provisions to have a significant impact on the Company's consolidated statement of financial position or financial statement disclosures. ASU 2017-04 Intangibles-Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment This amendment eliminates the need to determine the fair value of individual assets and liabilities of a reporting unit to measure a goodwill impairment. Goodwill impairment will now be the amount by which a reporting unit's carrying value exceeds its fair value. The amendment should be applied on a prospective basis. First quarter of fiscal year ending October 31, 2021 with early adoption permitted. We have early adopted these provisions during our third quarter of fiscal 2017 and any impact will be reflected in the Company's consolidated financial statements. ASU 2014-09 Revenue from Contracts with Customers The amendments require companies to 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. The amendments should be applied on either a full or modified retrospective basis, which clarifies existing accounting literature relating to how and when a company recognizes revenue. The FASB, through the issuance of ASU No. 2015-14, " Revenue from Contracts with Customers, " approved a one year delay of the effective date and permits two implementation approaches, one requiring retrospective application of the new standard with restatement of prior years and one requiring prospective application of the new standard with disclosure of results under old standards. During fiscal 2016, the FASB issued ASUs 2016-10, 2016-11 and 2016-12. Finally, ASU 2016-20 makes minor corrections or minor improvements to the Codification that are not expected to have a significant effect on current accounting practice or create a significant administrative cost to most entities. First quarter of fiscal year ending October 31, 2019 We are planning a bottom up approach to analyze the standard's impact on our revenues by looking at historical policies and practices and identifying the differences from applying the new standard to our revenue stream. While we have not yet identified any material changes in the timing of revenue recognition, our evaluation is ongoing and not complete. We have established a cross-functional coordinated team to implement the guidance related to the recognition of revenue from contracts with customers. We are in the process of assessing our customer contracts, identifying contractual provisions that may result in a change in the timing or the amount of revenue recognized in comparison with current guidance, as well as assessing the enhanced disclosure requirements of the new guidance. In addition, we have not selected a transition date or method nor have we determined the effect of the standard to our consolidated financial statements. ASU 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 This amendment's 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. First quarter of fiscal year ending October 31, 2017. We have adopted these provisions during our first quarter of fiscal 2017 and any impact will be reflected on the Company's consolidated financial statements. ASU 2016-02 Leases This amendment requires lessees to recognize a lease liability and a right-of-use asset on the balance sheet and aligns many of the underlying principles of the new lessor model with those in Accounting Standards Codification Topic 606, Revenue from Contracts with Customers. The standard requires a modified retrospective transition for capital and operating leases existing at or entered into after the beginning of the earliest comparative period presented in the financial statements, but it does not require transition accounting for leases that expire prior to the date of initial adoption. First quarter of fiscal year ending October 31, 2020 with early adoption permitted. We are currently evaluating the requirements of ASU 2016-02 and have not yet determined its impact on the Company's consolidated financial statements. ASU 2016-01 Recognition and Measurement of Financial Assets and Financial Liabilities This amendment addresses certain aspects of recognition, measurement, presentation and disclosure of financial instruments. Most prominent among the amendments is the requirement for changes in the fair value of the Company's equity investments, with certain exceptions, to be recognized through net income rather than other comprehensive income ("OCI"). The amendments should be applied by means of a cumulative-effect adjustment to the balance sheet in year of adoption. First quarter of fiscal year ending October 31, 2019 with early adoption permitted. We do not expect the adoption of these provisions to have a significant impact on the Company's consolidated statement of financial position or financial statement disclosures. ASU 2015-11 Inventory This amendment simplifies the measurement of inventory by requiring inventory to be measured at the lower of cost and net realizable value. The amendment should be applied on a prospective basis. First quarter of fiscal year ending October 31, 2018. We do not expect the adoption of these provisions to have a significant impact on the Company's consolidated statement of financial position or financial statement disclosures. |
Restructuring Restructuring (Ta
Restructuring Restructuring (Tables) | 12 Months Ended |
Oct. 31, 2017 | |
Restructuring and Related Activities [Abstract] | |
Schedule of Restructuring and Related Costs | The following table presents information about restructuring costs recorded in fiscal 2017 : October 31, 2017 Impairment of fixed assets Impairment of fixed assets $ 4,085 Employee costs 392 Legal and professional costs 270 Other 30 $ 4,777 |
Schedule of Restructuring Reserve | The following table presents a rollforward of the beginning and ending liability balances related to the restructuring costs which are included in the consolidated balance sheets in other accrued expenses for the above-mentioned actions through October 31, 2017 : Balance as of October 31, 2016 Restructuring Expense Payments Balance as of October 31, 2017 Employee costs — 415 350 65 Legal and professional costs — 270 — 270 $ — $ 685 $ 350 $ 335 |
Inventories (Tables)
Inventories (Tables) | 12 Months Ended |
Oct. 31, 2017 | |
Inventory Disclosure [Abstract] | |
Schedule of Inventory, Current [Table Text Block] | Inventories Inventories consist of the following: October 31, 2017 2016 Raw materials $ 23,389 $ 26,367 Work-in-process 18,653 16,149 Finished goods 19,770 18,031 Total inventories $ 61,812 $ 60,547 |
Prepaid Expenses Prepaid Expe35
Prepaid Expenses Prepaid Expenses (Tables) | 12 Months Ended |
Oct. 31, 2017 | |
Other Assets [Abstract] | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Table Text Block] | Prepaid expenses and other assets consist of the following: October 31, 2017 2016 Tooling (1) $ 13,629 $ 19,792 Prepaid expenses and other assets 14,089 10,694 Assets held for sale 6,300 6,500 Total $ 34,018 $ 36,986 |
Other Assets Other Assets (Tabl
Other Assets Other Assets (Tables) | 12 Months Ended |
Oct. 31, 2017 | |
Deferred Costs and Other Assets Disclosure [Abstract] | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Table Text Block] | October 31, 2017 2016 Other assets consist of the following: Deferred financing costs, net $ 4,550 $ 6,098 Tooling 784 881 Investment in joint venture — 1,300 Other 2,615 4,417 Total $ 7,949 $ 12,696 |
Property, Plant and Equipment (
Property, Plant and Equipment (Tables) | 12 Months Ended |
Oct. 31, 2017 | |
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, 2017 2016 Land and improvements $ 11,416 $ 11,358 Buildings and improvements 124,406 117,291 Machinery and equipment 504,785 505,768 Furniture and fixtures 22,209 18,200 Construction in progress 40,356 37,612 Total, at cost 703,172 690,229 Less: Accumulated depreciation 436,281 424,392 Property, plant and equipment, net $ 266,891 $ 265,837 |
Schedule of Capital Leased Assets [Table Text Block] | Capital Leases: October 31, 2017 2016 Leased Property: Machinery and equipment $ 7,099 $ 7,295 Less: Accumulated depreciation $ 2,420 $ 1,781 Leased property, net $ 4,679 $ 5,514 |
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, 2017 are as follows: Twelve Months Ending October 31, 2018 $ 895 2019 624 2020 401 2021 $ 1,840 3,760 Plus amount representing interest ranging from 3.05% to 3.77% 373 Total obligations under capital leases $ 4,133 |
Financing Arrangements (Tables)
Financing Arrangements (Tables) | 12 Months Ended |
Oct. 31, 2017 | |
Debt Disclosure [Abstract] | |
Schedule of Debt | Debt consists of the following: October 31, 2017 2016 Credit Agreement —interest at 3.88% and 5.14% at October 31, 2017 and October 31, 2016, respectively $ 178,200 $ 252,900 Equipment security note 482 996 Capital lease obligations 3,760 4,388 Insurance broker financing agreement 650 661 Total debt 183,092 258,945 Less: Current debt 2,027 2,023 Total long-term debt $ 181,065 $ 256,922 |
Schedule of Maturities of Debt | Twelve Months Ending October 31, Credit Agreement Equipment Security Note Capital Lease Obligations Other Debt Total 2018 $ — $ 482 $ 895 $ 650 $ 2,027 2019 — — 624 — 624 2020 — — 401 — 401 2021 — — 1,840 — 1,840 2022 178,200 — — — 178,200 Total $ 178,200 $ 482 $ 3,760 $ 650 $ 183,092 |
Goodwill and Intangible Assets(
Goodwill and Intangible Assets(Tables) | 12 Months Ended |
Oct. 31, 2017 | |
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, 2015 $ 27,992 Foreign currency translation and other (502 ) Balance October 31, 2016 27,490 Foreign currency translation and other 369 Balance October 31, 2017 $ 27,859 |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | The changes in the carrying amount of finite-lived intangible assets for the years ended October 31, 2017 and 2016 are as follows: Customer Relationships Developed Technology Non-Compete Trade Name Trademark Total Balance October 31, 2015 $ 14,311 $ 3,540 $ 63 $ 1,500 $ 129 $ 19,543 Amortization expense (1,330 ) (772 ) (16 ) (123 ) (17 ) (2,258 ) Foreign currency translation (6 ) — — — — (6 ) Balance October 31, 2016 12,975 2,768 47 1,377 112 17,279 Amortization expense (1,332 ) (771 ) (16 ) (123 ) (17 ) (2,259 ) Foreign currency translation 5 — — — — 5 Balance October 31, 2017 $ 11,648 $ 1,997 $ 31 $ 1,254 $ 95 $ 15,025 |
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, 2017 Weighted Average Useful Life (years) Gross Carrying Value Net of Foreign Currency Accumulated Amortization Net Customer relationships 13.2 $ 17,569 $ (5,921 ) $ 11,648 Developed technology 7.3 5,007 (3,010 ) 1,997 Non-compete 2.3 824 (793 ) 31 Trade name 14.8 1,875 (621 ) 1,254 Trademark 10.0 166 (71 ) 95 Total intangible assets $ 25,441 $ (10,416 ) $ 15,025 October 31, 2016 Gross Carrying Value Net of Foreign Currency Accumulated Amortization Net Customer relationships $ 17,564 $ (4,589 ) $ 12,975 Developed technology 5,007 (2,239 ) 2,768 Non-compete 824 (777 ) 47 Trade name 1,875 (498 ) 1,377 Trademark 166 (54 ) 112 Total intangible assets $ 25,436 $ (8,157 ) $ 17,279 |
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: 2018 $ 2,123 2019 1,716 2020 1,701 2021 1,701 2022 1,701 Thereafter 6,083 $ 15,025 |
Operating Leases Operating Leas
Operating Leases Operating Leases(Tables) | 12 Months Ended |
Oct. 31, 2017 | |
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, 2017 : 2018 $ 11,328 2019 10,448 2020 9,076 2021 7,379 2022 3,121 Thereafter 3,885 Total commitments under non-cancelable operating leases $ 45,237 |
Employee Benefit Plan (Tables)
Employee Benefit Plan (Tables) | 12 Months Ended |
Oct. 31, 2017 | |
Defined Benefit Plan [Abstract] | |
Obligations and Funded Status | Obligations and Funded Status U.S. Plans at October 31 Pension Benefits Other Post Retirement Benefits 2017 2016 2017 2016 Change in benefit obligation: Benefit obligation at beginning of year $ (90,784 ) $ (86,827 ) $ (372 ) $ (423 ) Interest cost (3,282 ) (3,566 ) (13 ) (16 ) Actuarial gain (loss) 576 (5,100 ) 28 20 Benefits paid 4,427 4,709 44 47 Benefit obligation at end of year (89,063 ) (90,784 ) (313 ) (372 ) Change in plan assets: Fair value of plan assets at beginning of year 64,458 66,655 — — Actual return on plan assets 9,184 1,562 — — Employer contributions — 950 44 47 Benefits paid (4,427 ) (4,709 ) (44 ) (47 ) Fair value of plan assets at end of year 69,215 64,458 — — Funded status, benefit obligations in excess of plan assets $ (19,848 ) $ (26,326 ) $ (313 ) $ (372 ) |
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 2017 2016 2017 2016 Other accrued expenses (1) $ — $ (4,120 ) $ (38 ) $ (42 ) Long-term benefit liabilities (19,848 ) (22,206 ) (275 ) (330 ) Total $ (19,848 ) $ (26,326 ) $ (313 ) $ (372 ) |
Components of Net Periodic Benefit Cost | Components of Net Periodic Benefit Cost U.S. Plans Pension Benefits Other Post Retirement Benefits 2017 2016 2015 2017 2016 2015 Interest cost $ 3,282 $ 3,566 $ 3,466 $ 13 $ 16 $ 24 Expected return on plan assets (3,455 ) (4,568 ) (4,698 ) — — — Amortization of net actuarial loss 1,508 1,239 1,186 10 12 28 Net periodic benefit cost $ 1,335 $ 237 $ (46 ) $ 23 $ 28 $ 52 |
Amortization of Net Actuarial Loss | We expect to recognize in the consolidated statements of operations the following amounts that will be amortized from accumulated other comprehensive loss in fiscal 2018 . Pension Benefits Other Post Retirement Benefits Amortization of net actuarial loss $ (1,311 ) $ (7 ) |
Net Actuarial Loss in Other Comprehensive Income | We have recognized the following cumulative pre-tax actuarial losses, prior service costs and transition obligations in accumulated other comprehensive loss: Pension Benefits Other Post Retirement Benefits 2017 2016 2017 2016 Net actuarial loss $ 43,982 $ 51,795 $ 84 $ 122 Recognized in accumulated other comprehensive loss $ 43,982 $ 51,795 $ 84 $ 122 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 (2) Foreign Currency Translation Adjustment (3) Accumulated Other Comprehensive Loss Balance at October 31, 2015 $ (28,809 ) $ (341 ) $ (3,176 ) $ (17,723 ) $ (50,049 ) Other comprehensive loss (8,087 ) (125 ) (1,466 ) (3,031 ) (12,709 ) Amounts reclassified from accumulated other comprehensive loss, net of tax 4,237 — 1,530 529 6,296 Net current-period other comprehensive income (loss) (3,850 ) (125 ) 64 (2,502 ) (6,413 ) Balance at October 31, 2016 $ (32,659 ) $ (466 ) $ (3,112 ) $ (20,225 ) $ (56,462 ) Other comprehensive income 6,333 29 392 7,156 13,910 Amounts reclassified from accumulated other comprehensive loss, net of tax (1,521 ) 435 1,401 — 315 Net current-period other comprehensive income 4,812 464 1,793 7,156 14,225 Balance at October 31, 2017 $ (27,847 ) $ (2 ) $ (1,319 ) $ (13,069 ) $ (42,237 ) (1) Amounts reclassified from accumulated other comprehensive loss, net of tax are classified with manufacturing expenses included in cost of goods sold on the statements of operations. (2) Amounts reclassified from accumulated other comprehensive income loss, net of tax are classified with interest expense included on the statements of operations. (3) Amounts reclassified from accumulated other comprehensive income loss, net of tax are classified with other expense, net included on the statements of operations. |
Minimum Liability Included in Other Comprehensive Income | Additional Information on U.S. Plans Pension Benefits Other Post Retirement Benefits 2017 2016 2017 2016 Increase (decrease) in minimum liability included in other comprehensive income (loss) $ (7,813 ) $ 6,867 $ (38 ) $ 31 |
Assumptions | Assumptions for U.S. Plans: Weighted-average assumptions used to determine benefit obligations at October 31 Pension Benefits Other Post Retirement Benefits 2017 2016 2015 2017 2016 2015 Discount rate 3.65 % 3.70 % 4.20 % 3.65 % 3.70 % 4.20 % Pension Benefits Other Post Retirement Benefits Weighted-average assumptions used to determine net periodic benefit costs for years ended October 31 2017 2016 2015 2017 2016 2015 Discount rate 3.70 % 4.20 % 4.00 % 3.70 % 3.70 % 4.00 % Expected long-term return on plan assets 6.50 % 7.50 % 7.50 % — — — |
Assumed Health Care Cost Trend Rates | October 31, Assumed health care trend rates 2017 2016 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% 6.8% Year that the rate reaches the ultimate trend rate 2019 2018 |
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, 2017 : One-Percentage Point Increase One-Percentage Point Decrease Effect on total of service and interest cost components $ 3 $ (3 ) Effect on post retirement obligation $ 23 $ (20 ) |
Allocation of Plan Assets | pension plan weighted-average asset allocations at October 31, 2017 and 2016 , by asset category and comparison to the target allocation percentage are as follows: Target Allocation Percentage Plan Assets at October 31, 2017 2016 Asset Category Equity securities 30-70% 60% 59% Debt securities 30-70% 34% 35% Real estate 0-10% 6% 6% Total 100% 100% |
Investments Measured At Fair Value | Investments totaling $69,215 at October 31, 2017 and $64,458 at October 31, 2016 measured at fair value on a recurring basis are summarized below: Fair Value Measurements Fair Value Measurements at October 31, 2017 Using at October 31, 2016 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 $ 16,778 $ 6,381 $ 12,904 $ 10,294 Market Small/Mid U.S. Equity 8,340 694 7,654 622 Market International Equity 9,169 — 6,420 — Market Fixed Income Money Market — 314 — — Market Government — — — 309 Market Corporate 18,876 4,513 17,738 4,571 Market Real Estate (Primarily Commercial) — 4,150 — 3,946 Market Total Investments $ 53,163 $ 16,052 $ 44,716 $ 19,742 |
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 2018 $ 4,620 $ 38 2019 4,380 37 2020 4,320 37 2021 4,310 26 2022 4,850 24 2023-2026 $ 25,080 $ 101 |
Fair Value of Other Financial42
Fair Value of Other Financial Instruments Fair Value of Other Financial Instruments (Tables) | 12 Months Ended |
Oct. 31, 2017 | |
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, 2017 and 2016 are set forth in the table below: Asset (Liability) Level 1 Level 2 Valuation Technique October 31, 2016 Interest Rate Swap Contracts $ (5,036 ) $ — $ (5,036 ) Income Approach Marketable Securities 174 — 174 Income Approach October 31, 2017 Interest Rate Swap Contracts (2,088 ) — (2,088 ) Income Approach Marketable Securities $ 194 $ 194 $ — Market Approach |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 12 Months Ended |
Oct. 31, 2017 | |
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, 2017 2016 2015 Net income (loss) available to common stockholders $ (697 ) $ 3,669 $ 5,905 Basic weighted average shares 19,233 17,513 17,287 Effect of dilutive securities: Restricted stock units and stock options (1) — 13 23 Diluted weighted average shares 19,233 17,526 17,310 Basic earnings (loss) per share $(0.04) $0.21 $0.34 Diluted earnings (loss) per share $(0.04) $0.21 $0.34 (1) Due to loss for the fiscal year ended October 31, 2017 , no restricted share awards and units are included because the effect would be anti-dilutive. |
Stock Incentive Compensation (T
Stock Incentive Compensation (Tables) | 12 Months Ended |
Oct. 31, 2017 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Schedule of Share-based Compensation, Activity | Stock Options Restricted Stock Restricted Stock Units Outstanding at: Options Weighted Average Exercise Price Weighted Average Remaining Contractual Life Restricted Shares 20 Day EMA Weighted Average Remaining Contractual Life Restricted Share Units 20 Day EMA Weighted Average Remaining Contractual Life November 1, 2014 123 $9.69 5.15 117 $16.81 2.58 — — Granted — — 84 11.22 — — Options exercised or restricted stock vested (19 ) 8.19 (69 ) 14.99 — — Forfeited or expired (13 ) 11.80 (8 ) 20.64 — — October 31, 2015 91 $9.70 4.10 124 $13.77 2.28 — — Granted — — 312 4.30 22 $4.17 Options exercised or restricted stock vested — — (54 ) 16.53 — — Forfeited or expired (1 ) 12.04 (6 ) 5.71 — — October 31, 2016 90 $9.67 3.04 376 $6.11 1.83 22 $4.17 1.46 Granted — — 247 7.94 29 8.62 Options exercised or restricted stock vested (8 ) 9.79 (174 ) 6.11 (14 ) 4.17 Forfeited or expired (24 ) 13.38 (8 ) 9.57 (1 ) 7.06 October 31, 2017 58 $8.16 2.53 441 $7.07 1.60 36 $7.69 1.82 |
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block] | recorded stock compensation expense related to stock options, restricted stock and restricted stock units during the fiscal years ended October 31, 2017 , 2016 and 2015 as follows: 2017 2016 2015 Stock options $ — $ — $ 15 Restricted stock (1) 1,583 1,035 1,010 Restricted stock units 115 37 — Total $ 1,698 $ 1,072 $ 1,025 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding and Exercisable | Exercise Prices Options Outstanding Exercise Price of Options Outstanding and Options Exercisable Options Exercisable Weighted Average Remaining Contractual Life $2.11 8,000 $2.11 8,000 1.12 $5.30 18,166 $5.30 18,166 1.78 $12.04 26,000 $12.04 26,000 3.11 $8.10 6,000 $8.10 6,000 4.14 Totals 58,166 58,166 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Oct. 31, 2017 | |
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, 2017 2016 2015 Domestic $ 4,251 $ 3,917 $ 17,063 Foreign 2,172 (5,400 ) (6,448 ) Total $ 6,423 $ (1,483 ) $ 10,615 |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | The components of the provision (benefit) for income taxes from continuing operations were as follows: Years Ended October 31, 2017 2016 2015 Current: Federal $ 66 $ (3,900 ) $ (545 ) State and local 386 329 384 Foreign 2,494 1,123 608 Total current 2,946 (2,448) 447 Deferred: Federal 856 3,289 4,501 State and local (329 ) 156 208 Foreign 3,647 (6,149 ) (446 ) Total deferred 4,174 (2,704) 4,263 Provision (benefit) $ 7,120 $ (5,152 ) $ 4,710 |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | Net deferred income tax assets (liabilities) included in the consolidated balance sheet consist of the tax effects of temporary differences related to the following: Years Ended October 31, 2017 2016 Deferred tax assets: Accrued compensation and benefits $ 1,793 $ 2,091 Inventory 1,721 646 State depreciation adjustments and loss carryforwards 4,213 2,664 Pension obligations and post retirement benefits 7,432 10,229 Foreign net operating loss 8,851 7,466 Other accruals, reserves and tax credits 3,070 3,668 Goodwill and intangible amortization 6,269 7,234 Foreign currency translation 30 75 Interest rate swap 771 1,922 Total deferred tax assets 34,150 35,995 Less: Valuation allowance (9,401) (2,782) Net deferred tax assets $ 24,749 $ 33,213 Deferred tax liabilities: Fixed assets $ (26,742 ) $ (26,800 ) Prepaid expenses and other (835) (1,173) Net deferred tax (liability) asset $ (2,828 ) $ 5,240 Change in net deferred tax asset: Benefit (provision) for deferred taxes $ (4,174 ) $ 2,704 Unrecognized tax benefit adjustments 453 (207 ) Components of other comprehensive income: Pension and post retirement benefits (3,001 ) 2,986 Velocys investment (250) 58 Interest rate swap (1,151 ) 111 Other adjustments 55 (27 ) Total change in net deferred tax asset $ (8,068 ) $ 5,625 |
Summary of Income Tax Contingencies [Table Text Block] | Activities and balances of unrecognized tax benefits for 2017 , 2016 , and 2015 are summarized below: Years Ended October 31, 2017 2016 2015 Balance at beginning of year $ 561 $ 731 $ 1,068 Additions based on tax positions related to the current year 88 48 125 Additions for tax positions of prior years 9 — 27 Reductions based on tax positions related to the current year — — (39 ) Reductions for tax positions of prior years — (53 ) — Reductions as result of lapse of applicable statute of limitations (118 ) (165 ) (450 ) Balance at end of year $ 540 $ 561 $ 731 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | A reconciliation of income tax expense / (benefit) from operations and the U.S. Federal statutory income tax expense were as follows: Years Ended October 31, 2017 2016 2015 Taxes at U.S. federal statutory rate $ 2,248 $ (519 ) $ 3,715 State and local income taxes, net of federal benefit (1,639 ) 65 499 Valuation allowance change 5,749 (5,452 ) 1,337 Domestic tax credits (803 ) (930 ) (223 ) Domestic production activities deduction (455 ) (391 ) (340 ) Foreign operations 1,182 2,240 1,401 Adjustment of uncertain tax positions (83 ) (173 ) (340 ) Provision to return adjustment for tax law extensions subsequent to year-end 285 202 (1,380 ) Other 636 (194 ) 41 Total income tax expense (benefit) $ 7,120 $ (5,152 ) $ 4,710 |
Summary of Operating Loss Carryforwards [Table Text Block] | The table below summarizes the various country operating losses, credit carry forwards and associated valuation allowances as of October 31, 2017 and 2016 : October 31, 2017 October 31, 2016 Jurisdiction Gross NOL Carryforward NOL Tax Effected Valuation Allowance Gross NOL Carryforward NOL Tax Effected Valuation Allowance Netherlands $ 3,711 $ 742 $ 742 $ 174 $ 35 $ 35 Sweden 26,811 5,898 43 27,271 6,000 — China 2,968 742 742 1,494 373 373 Hong Kong 338 85 85 206 51 51 Mexico 4,614 1,384 1,384 3,358 1,007 — U.S. (State) 65,247 3,711 3,711 39,331 2,138 2,075 Total before Foreign Tax Credit $ 103,689 $ 12,562 $ 6,707 $ 71,834 $ 9,604 $ 2,534 U.S. Federal (Foreign Tax Credit) — — 248 — — 248 Total $ 103,689 $ 12,562 $ 6,955 $ 71,834 $ 9,604 $ 2,782 |
Accumulated Other Comprehensi46
Accumulated Other Comprehensive Loss Amounts Recognized Into Other Comprehensive Income (Tables) | 12 Months Ended |
Oct. 31, 2017 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |
Schedule of Amounts Recognized in Other Comprehensive Income (Loss) | We have recognized the following cumulative pre-tax actuarial losses, prior service costs and transition obligations in accumulated other comprehensive loss: Pension Benefits Other Post Retirement Benefits 2017 2016 2017 2016 Net actuarial loss $ 43,982 $ 51,795 $ 84 $ 122 Recognized in accumulated other comprehensive loss $ 43,982 $ 51,795 $ 84 $ 122 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 (2) Foreign Currency Translation Adjustment (3) Accumulated Other Comprehensive Loss Balance at October 31, 2015 $ (28,809 ) $ (341 ) $ (3,176 ) $ (17,723 ) $ (50,049 ) Other comprehensive loss (8,087 ) (125 ) (1,466 ) (3,031 ) (12,709 ) Amounts reclassified from accumulated other comprehensive loss, net of tax 4,237 — 1,530 529 6,296 Net current-period other comprehensive income (loss) (3,850 ) (125 ) 64 (2,502 ) (6,413 ) Balance at October 31, 2016 $ (32,659 ) $ (466 ) $ (3,112 ) $ (20,225 ) $ (56,462 ) Other comprehensive income 6,333 29 392 7,156 13,910 Amounts reclassified from accumulated other comprehensive loss, net of tax (1,521 ) 435 1,401 — 315 Net current-period other comprehensive income 4,812 464 1,793 7,156 14,225 Balance at October 31, 2017 $ (27,847 ) $ (2 ) $ (1,319 ) $ (13,069 ) $ (42,237 ) (1) Amounts reclassified from accumulated other comprehensive loss, net of tax are classified with manufacturing expenses included in cost of goods sold on the statements of operations. (2) Amounts reclassified from accumulated other comprehensive income loss, net of tax are classified with interest expense included on the statements of operations. (3) Amounts reclassified from accumulated other comprehensive income loss, net of tax are classified with other expense, net included on the statements of operations. |
Business Segment Information (T
Business Segment Information (Tables) | 12 Months Ended |
Oct. 31, 2017 | |
Segment Reporting [Abstract] | |
Revenue from External Customers by Geographic Areas [Table Text Block] | Revenues of foreign geographic regions in the table below are attributed to external customers based upon the location of the entity recording the sale. These foreign revenues represent 19.5% , 16.7% , and 15.9% of total revenues for fiscal years 2017 , 2016 and 2015 , respectively. Long-lived assets in the table below consist primarily of net property, plant and equipment, goodwill and intangibles. Revenues Long-Lived Assets 2017 2016 2015 2017 2016 2015 United States $ 839,013 $ 888,164 $ 901,182 $ 235,663 $ 243,225 $ 265,579 Europe 169,398 143,281 132,094 53,569 48,709 41,695 Rest of World 33,575 34,389 39,776 20,543 18,672 19,484 Total Company $ 1,041,986 $ 1,065,834 $ 1,073,052 $ 309,775 $ 310,606 $ 326,758 |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | The foreign currency loss in the table below is included as a component of other expense in the consolidated statements of operations. Foreign Currency Loss 2017 2016 2015 Europe $ (473 ) $ (802 ) $ (23 ) Rest of World $ (622 ) $ (772 ) $ (483 ) |
Schedule of Revenue by Major Customers by Reporting Segments [Table Text Block] | The table below details customers that accounted for more than 10% of our revenues in fiscal 2017 , 2016 and 2015 : Revenues Customer 2017 2016 2015 General Motors 17.9 % 18.2 % 15.5 % FCA 15.0 % 17.1 % 17.4 % |
Quarterly Results of Operatio48
Quarterly Results of Operations Quarterly Results of Operations (Tables) | 12 Months Ended |
Oct. 31, 2017 | |
Quarterly Financial Information Disclosure [Abstract] | |
Schedule of Quarterly Financial Information | For the Year Ended October 31, 2017 First Quarter Second Quarter Third Quarter Fourth Quarter Net revenues $247,938 $273,031 $256,847 $264,170 Gross profit 23,800 33,216 28,855 27,912 Operating income (loss) 3,006 10,957 7,039 2,712 Provision (benefit) for income taxes (76 ) 2,323 4,439 434 Net income (loss) $(2,018) $4,229 $(1,982) $(926) Net income (loss) per share basic $(0.11) $0.24 $(0.11) $(0.04) Net income (loss) per share diluted $(0.11) $0.24 $(0.11) $(0.04) Weighted average number of shares: Basic 17,720 17,858 18,559 23,055 Diluted 17,720 17,888 18,559 23,055 For the Year Ended October 31, 2016 First Quarter Second Quarter Third Quarter Fourth Quarter Net revenues $251,055 $284,264 $248,832 $281,683 Gross profit 15,889 26,281 23,910 30,096 Operating income (loss) (2,292) 8,724 5,798 6,240 Provision for income taxes (1,911 ) 364 1,344 (4,949 ) Net income (loss) $(5,127) $4,209 $(678) $5,265 Net income (loss) per share basic $(0.30) $0.24 $(0.04) $0.31 Net income (loss) per share diluted $(0.30) $0.24 $(0.04) $0.31 Weighted average number of shares: Basic 17,342 17,615 17,614 17,614 Diluted 17,342 17,620 17,614 17,629 |
Summary of Significant Accoun49
Summary of Significant Accounting Policies (Details) | 12 Months Ended | ||
Oct. 31, 2017USD ($)employeesSubsidiaries | Oct. 31, 2016USD ($) | Oct. 31, 2015USD ($) | |
Property, Plant and Equipment [Line Items] | |||
Number of Subsidiaries | Subsidiaries | 32 | ||
Goodwill | $ 27,859,000 | $ 27,490,000 | $ 27,992,000 |
Goodwill as a percentage of total assets | 4.50% | 4.40% | |
Allocated Share-based Compensation Expense | $ 1,698,000 | $ 1,072,000 | 1,025,000 |
Percent of employees participating in a discretionary profit sharing plan | 96.00% | ||
Number of employees receiving post-retirement benefits | employees | 12 | ||
Furniture & Fixtures, Machinery & Equip, Assets Specifically 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 Specifically 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 | ||
MTD Holdings Inc. [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Common Stock, Percentage Owned by Related Party | 33.90% | ||
Affiliated Entity [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Cash | $ 8,654,000 | 8,219,000 | |
Restricted Stock [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Allocated Share-based Compensation Expense | 1,583,000 | $ 1,035,000 | $ 1,010,000 |
Restricted Stock [Member] | Accounting Standards Update 2016-09 [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Allocated Share-based Compensation Expense | $ 60,000 |
Asset Impairment (Details)
Asset Impairment (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Oct. 31, 2017 | Oct. 31, 2016 | Oct. 31, 2015 | |
Restructuring Cost and Reserve [Line Items] | |||
Asset impairment charges | $ 241 | $ 2,031 | $ 0 |
Valley City Steel [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Asset impairment charges | 273 | ||
Impaired Long-Live Assets Held and Used [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Other Asset Impairment Charges | 476 | ||
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Nonrecurring [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Impairment of Long-Lived Assets to be Disposed of | 200 | $ 1,282 | |
Asset impairment charges | 200 | ||
Dickson, Tennessee Facility [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Asset impairment charges | $ 41 |
Restructuring Restructuring (De
Restructuring Restructuring (Details) $ in Thousands | 12 Months Ended |
Oct. 31, 2017USD ($) | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring costs | $ 4,777 |
Additional restructuring costs expected | 4,000 |
Restructuring Reserve [Roll Forward] | |
Beginning balance | 0 |
Restructuring Expense | 685 |
Payments | 350 |
Ending balance | 335 |
Impairment of fixed assets [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring costs | 4,085 |
Employee costs [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring costs | 392 |
Restructuring Reserve [Roll Forward] | |
Beginning balance | 0 |
Restructuring Expense | 415 |
Payments | 350 |
Ending balance | 65 |
Legal and professional costs [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring costs | 270 |
Restructuring Reserve [Roll Forward] | |
Beginning balance | 0 |
Restructuring Expense | 270 |
Payments | 0 |
Ending balance | 270 |
Other [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring costs | 30 |
Pendergrass, Georgia Facility [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring costs | 4,450 |
Dickson, Tennessee Facility [Member] | Employee costs [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring costs | $ 327 |
Marketable Securities Marketa52
Marketable Securities Marketable Securities (Details) - USD ($) $ in Thousands | Mar. 11, 2014 | Oct. 31, 2017 |
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Realized Losses, Excluding Other than Temporary Impairments | $ 695 | |
Investee [Member] | Velocys [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Payments to Acquire Marketable Securities Including Premium | $ 2,000 | |
Marketable Securities | 1,527 | |
Investment, Unamortized Premium | $ 473 |
Accounts Receivable (Details)
Accounts Receivable (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Oct. 31, 2017 | Oct. 31, 2016 | Oct. 31, 2015 | |
Accounts Receivable [Abstract] | |||
Allowance for doubtful accounts | $ 1,271 | $ 790 | |
Bad debt expense | 493 | $ 210 | |
Bad debt benefit | $ (10) | ||
Accounts receivable factored | 7,567 | ||
Accounts receivable recourse liability | $ 8,072 |
Inventories (Details)
Inventories (Details) - USD ($) $ in Thousands | Oct. 31, 2017 | Oct. 31, 2016 |
Inventory Disclosure [Abstract] | ||
Raw materials | $ 23,389 | $ 26,367 |
Work in Process | 18,653 | 16,149 |
Finished Goods | 19,770 | 18,031 |
Total inventories | 61,812 | 60,547 |
Inventory Valuation Reserves | $ 5,535 | $ 2,946 |
Prepaid Expenses Prepaid Expe55
Prepaid Expenses Prepaid Expenses (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Oct. 31, 2017 | Oct. 31, 2016 | |
Tooling | $ 13,629 | $ 19,792 |
Prepaid expenses and other assets | 14,089 | 10,694 |
Assets held for sale | 6,300 | 6,500 |
Total | 34,018 | 36,986 |
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Impairment of Long-Lived Assets to be Disposed of | $ 200 | $ 1,282 |
Other Assets Other Assets(Detai
Other Assets Other Assets(Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Oct. 31, 2017 | Oct. 31, 2016 | Oct. 31, 2015 | |
Deferred financing costs, net | $ 4,550 | $ 6,098 | |
Tooling | 784 | 881 | |
Investment in joint venture | 0 | 1,300 | |
Other | 2,615 | 4,417 | |
Other Assets, Noncurrent | 7,949 | 12,696 | |
Amortization of deferred financing costs | 3,115 | 2,505 | $ 992 |
Accumulated Amortization, Deferred Finance Costs | 9,886 | 6,771 | |
Interest Costs Capitalized | $ 1,779 | $ 1,785 |
Property, Plant and Equipment57
Property, Plant and Equipment (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Oct. 31, 2017 | Oct. 31, 2016 | Oct. 31, 2015 | |
Property, Plant and Equipment [Line Items] | |||
Land and improvements | $ 11,416 | $ 11,358 | |
Buildings and improvements | 124,406 | 117,291 | |
Machinery and equipment | 504,785 | 505,768 | |
Furniture and fixtures | 22,209 | 18,200 | |
Construction in progress | 40,356 | 37,612 | |
Total, at cost | 703,172 | 690,229 | |
Accumulated depreciation | 436,281 | 424,392 | |
Property, Plant and Equipment, Net | 266,891 | 265,837 | |
Depreciation | 39,389 | 35,387 | $ 31,956 |
Interest Costs Capitalized | 1,779 | 1,785 | |
Capital Expenditures Incurred but Not yet Paid | 4,239 | 5,604 | $ 4,225 |
Capitalized interest | |||
Property, Plant and Equipment [Line Items] | |||
Interest Costs Capitalized | $ 793 | $ 370 |
Property, Plant and Equipment C
Property, Plant and Equipment Capital Leased Assets Included in Property, Plant and Equipment (Details) - USD ($) $ in Thousands | Oct. 31, 2017 | Oct. 31, 2016 |
Property, Plant and Equipment [Abstract] | ||
Machinery and equipment | $ 7,099 | $ 7,295 |
Less: Accumulated depreciation | 2,420 | 1,781 |
Leased property, net | $ 4,679 | $ 5,514 |
Property, Plant and Equipment F
Property, Plant and Equipment Future Minimum Lease Payments (Details) $ in Thousands | Oct. 31, 2017USD ($) |
Property, Plant and Equipment [Line Items] | |
Plus amount representing interest ranging from 3.05% to 3.77% | $ 373 |
Total obligations under capital leases | $ 4,133 |
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] | |
2,018 | $ 895 |
2,019 | 624 |
2,020 | 401 |
2,021 | 1,840 |
Total | $ 3,760 |
Financing Arrangements Financin
Financing Arrangements Financing Balances at Period End (Details) - USD ($) $ in Thousands | Oct. 31, 2017 | Oct. 31, 2016 |
Debt Instrument [Line Items] | ||
Long-term Debt | $ 179,332 | |
Total debt | 183,092 | $ 258,945 |
Less: Current debt | 2,027 | 2,023 |
Total long-term debt | 181,065 | 256,922 |
Insurance Financing Agreement [Member] | ||
Debt Instrument [Line Items] | ||
Short-term Debt | $ 650 | $ 661 |
Revolving Credit Facility [Member] | ||
Debt Instrument [Line Items] | ||
Line of Credit Facility, Interest Rate at Period End | 3.88% | 5.14% |
Long-term Debt | $ 178,200 | $ 252,900 |
Equipment Security Note [Member] | ||
Debt Instrument [Line Items] | ||
Long-term Debt | 482 | 996 |
Capital Lease Obligations [Member] | ||
Debt Instrument [Line Items] | ||
Long-term Debt | $ 3,760 | $ 4,388 |
Financing Arrangements (Details
Financing Arrangements (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||
Oct. 31, 2016 | Oct. 31, 2017 | Oct. 31, 2016 | Oct. 31, 2015 | Oct. 30, 2017 | Oct. 30, 2015 | Apr. 29, 2015 | Feb. 24, 2014 | |
Debt Instrument [Line Items] | ||||||||
Debt Instrument, Interest Rate During Period | 4.51% | 4.90% | ||||||
Letters of Credit Outstanding, Amount | $ 7,253 | |||||||
Collateral Agreement | 65.00% | |||||||
Equipment security note | $ 179,332 | |||||||
Equipment Security Note, Long-term Portion | $ (256,922) | $ (181,065) | $ (256,922) | |||||
Derivatives, Interest Rate Swap, Maturity | 5 years | |||||||
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax | $ 1,793 | 64 | $ (1,618) | |||||
Interest Expense | $ 15,088 | 18,086 | 9,898 | |||||
Minimum [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Debt Instrument, Interest Rate, Stated Percentage | 3.05% | |||||||
Maximum [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Debt Instrument, Interest Rate, Stated Percentage | 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 | $ 150,000 | 100,000 | ||||||
Maximum Borrowing Capacity | $ 350,000 | 360,000 | ||||||
Line of Credit, Committed Reductions | $ 30,000 | |||||||
Line of Credit Facility, Increase (Decrease), Net | 5,000 | |||||||
Line of Credit Facility, Current Borrowing Capacity | 355,000 | |||||||
Line of Credit Facility, Remaining Borrowing Capacity | $ 164,547 | |||||||
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 | 3.00% | |||||||
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 | 2.00% | |||||||
Revolving Credit Facility [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Equipment security note | 252,900 | $ 178,200 | 252,900 | |||||
Equipment Security Note, Short-Term Portion | $ 0 | |||||||
Equipment Security Note [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Debt Instrument, Interest Rate, Stated Percentage | 2.47% | |||||||
Debt Instrument, Periodic Payment | $ 44 | |||||||
Equipment security note | 996 | 482 | 996 | |||||
Equipment Security Note, Short-Term Portion | $ 482 | |||||||
Insurance Financing Agreement [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Debt Instrument, Interest Rate, Stated Percentage | 2.05% | |||||||
Debt Instrument, Periodic Payment | $ 94 | |||||||
Short-term Debt | $ 661 | 650 | 661 | |||||
Equipment Security Note, Short-Term Portion | 650 | |||||||
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 | $ 25,000 | |||||||
Fixed Rate Debt [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Equipment security note | 1,132 | |||||||
Tranche A Facility [Member] | Lender Two [Member] | Revolving Credit Facility [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Maximum Borrowing Capacity | 275,000 | |||||||
Tranche B Facility [Member] | Lender Two [Member] | Revolving Credit Facility [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Maximum Borrowing Capacity | $ 75,000 | |||||||
Cash Flow Hedging [Member] | Interest Rate Swap [Member] | Lender Two [Member] | Revolving Credit Facility [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Interest Expense | $ 1,401 | $ 1,530 | $ 433 |
Financing Arrangements Maturiti
Financing Arrangements Maturities of Debt (Details) - USD ($) $ in Thousands | Oct. 31, 2017 | Oct. 31, 2016 |
Debt Instrument [Line Items] | ||
Long-term Debt | $ 179,332 | |
2,017 | 2,027 | |
2,018 | 624 | |
2,019 | 401 | |
2,020 | 1,840 | |
2,021 | 178,200 | |
Total debt | 183,092 | $ 258,945 |
Insurance Financing Agreement [Member] | ||
Debt Instrument [Line Items] | ||
2,017 | 650 | |
2,018 | 0 | |
2,019 | 0 | |
2,020 | 0 | |
2,021 | 0 | |
Other Debt | 650 | 661 |
Revolving Credit Facility [Member] | ||
Debt Instrument [Line Items] | ||
2,017 | 0 | |
2,018 | 0 | |
2,019 | 0 | |
2,020 | 0 | |
2,021 | 178,200 | |
Long-term Debt | 178,200 | 252,900 |
Equipment Security Note [Member] | ||
Debt Instrument [Line Items] | ||
2,017 | 482 | |
2,018 | 0 | |
2,019 | 0 | |
2,020 | 0 | |
2,021 | 0 | |
Long-term Debt | 482 | 996 |
Capital Lease Obligations [Member] | ||
Debt Instrument [Line Items] | ||
Long-term Debt | 3,760 | $ 4,388 |
2,018 | 895 | |
2,019 | 624 | |
2,020 | 401 | |
2,021 | 1,840 | |
2,022 | 0 | |
Total | $ 3,760 |
Goodwill and Intangible Assets
Goodwill and Intangible Assets Goodwill (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Oct. 31, 2017 | Oct. 31, 2016 | |
Goodwill and Intangible Assets Disclosure [Abstract] | ||
Goodwill at beginning of period | $ 27,490 | $ 27,992 |
Foreign currency translation and other | 369 | (502) |
Goodwill at end of period | $ 27,859 | $ 27,490 |
Intangible Assets(Details)
Intangible Assets(Details) - USD ($) $ in Thousands | 12 Months Ended | |
Oct. 31, 2017 | Oct. 31, 2015 | |
Finite-Lived Intangible Assets [Line Items] | ||
Finite-Lived Intangible Assets, Net, Beginning of Period | $ 17,279 | |
Amortization expense | (2,259) | $ (2,258) |
Finite-Lived Intangible Assets, Translation Adjustments | 5 | (6) |
Finite-Lived Intangible Assets, Net, End of Period | 15,025 | 19,543 |
Customer Relationships [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Finite-Lived Intangible Assets, Net, Beginning of Period | 12,975 | |
Amortization expense | (1,332) | (1,330) |
Finite-Lived Intangible Assets, Translation Adjustments | 5 | (6) |
Finite-Lived Intangible Assets, Net, End of Period | 11,648 | 14,311 |
Developed Technology Rights [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Finite-Lived Intangible Assets, Net, Beginning of Period | 2,768 | |
Amortization expense | (771) | (772) |
Finite-Lived Intangible Assets, Translation Adjustments | 0 | 0 |
Finite-Lived Intangible Assets, Net, End of Period | 1,997 | 3,540 |
Noncompete Agreements [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Finite-Lived Intangible Assets, Net, Beginning of Period | 47 | |
Amortization expense | (16) | (16) |
Finite-Lived Intangible Assets, Translation Adjustments | 0 | 0 |
Finite-Lived Intangible Assets, Net, End of Period | 31 | 63 |
Trade Names [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Finite-Lived Intangible Assets, Net, Beginning of Period | 1,377 | |
Amortization expense | (123) | (123) |
Finite-Lived Intangible Assets, Translation Adjustments | 0 | 0 |
Finite-Lived Intangible Assets, Net, End of Period | 1,254 | 1,500 |
Trademarks [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Finite-Lived Intangible Assets, Net, Beginning of Period | 112 | |
Amortization expense | (17) | (17) |
Finite-Lived Intangible Assets, Translation Adjustments | 0 | 0 |
Finite-Lived Intangible Assets, Net, End of Period | $ 95 | $ 129 |
Goodwill and Intangible Asset65
Goodwill and Intangible Assets Changes in Carrying Amount of Intangible Assets (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Oct. 31, 2017 | Oct. 31, 2016 | Oct. 31, 2015 | |
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Finite-Lived Intangible Assets, Gross | $ 25,441 | $ 25,436 | |
Finite-Lived Intangible Assets, Accumulated Amortization | (10,416) | (8,157) | |
Finite-Lived Intangible Assets, Net | $ 15,025 | 17,279 | $ 19,543 |
Customer Relationships [Member] | |||
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Finite-Lived Intangible Asset, Useful Life | 13 years 2 months 14 days | ||
Finite-Lived Intangible Assets, Gross | $ 17,569 | 17,564 | |
Finite-Lived Intangible Assets, Accumulated Amortization | (5,921) | (4,589) | |
Finite-Lived Intangible Assets, Net | $ 11,648 | 12,975 | 14,311 |
Developed Technology Rights [Member] | |||
Acquired Finite-Lived Intangible Assets [Line Items] | |||
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 | (3,010) | (2,239) | |
Finite-Lived Intangible Assets, Net | $ 1,997 | 2,768 | 3,540 |
Noncompete Agreements [Member] | |||
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Finite-Lived Intangible Asset, Useful Life | 2 years 3 months 14 days | ||
Finite-Lived Intangible Assets, Gross | $ 824 | 824 | |
Finite-Lived Intangible Assets, Accumulated Amortization | (793) | (777) | |
Finite-Lived Intangible Assets, Net | $ 31 | 47 | 63 |
Trade Names [Member] | |||
Acquired Finite-Lived Intangible Assets [Line Items] | |||
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 | (621) | (498) | |
Finite-Lived Intangible Assets, Net | $ 1,254 | 1,377 | 1,500 |
Trademarks [Member] | |||
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Finite-Lived Intangible Asset, Useful Life | 10 years 14 days | ||
Finite-Lived Intangible Assets, Gross | $ 166 | 166 | |
Finite-Lived Intangible Assets, Accumulated Amortization | (71) | (54) | |
Finite-Lived Intangible Assets, Net | $ 95 | $ 112 | $ 129 |
Goodwill and Intangible Asset66
Goodwill and Intangible Assets Schedule of Amortization Expense Next 5 Years (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Oct. 31, 2017 | Oct. 31, 2016 | Oct. 31, 2015 | |
Finite-Lived Intangible Assets [Line Items] | |||
Total amortization expense | $ 2,259 | $ 2,258 | $ 2,295 |
2,018 | 2,123 | ||
2,019 | 1,716 | ||
2,020 | 1,701 | ||
2,021 | 1,701 | ||
2,022 | 1,701 | ||
Thereafter | 6,083 | ||
Finite Lived Intangible Assets, Future Amortization | $ 15,025 |
Operating Leases Operting Lease
Operating Leases Operting Leases(Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Oct. 31, 2017 | Oct. 31, 2016 | Oct. 31, 2015 | |
Operating Leases [Abstract] | |||
Operating Leases, Rent Expense, Net | $ 11,147 | $ 9,544 | $ 8,449 |
Operating Leases Schedule of Fu
Operating Leases Schedule of Future Minimum Rental (Details) $ in Thousands | Oct. 31, 2017USD ($) |
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract] | |
2,018 | $ 11,328 |
2,019 | 10,448 |
2,020 | 9,076 |
2,021 | 7,379 |
2,022 | 3,121 |
Thereafter | 3,885 |
Total | $ 45,237 |
Pension and Other Post-Retireme
Pension and Other Post-Retirement Benefit Matters (Details) $ in Thousands | 12 Months Ended | ||
Oct. 31, 2017USD ($)employees | Oct. 31, 2016USD ($) | Oct. 31, 2015USD ($) | |
Defined Benefit Plan Disclosure [Line Items] | |||
Number of employees receiving post-retirement benefits | employees | 12 | ||
Pension Plan [Member] | |||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Employer contributions | $ 0 | ||
Domestic Plan [Member] | Pension Plan [Member] | |||
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | |||
Benefit obligation at beginning of year | (90,784) | $ (86,827) | |
Interest cost | (3,282) | (3,566) | $ (3,466) |
Actuarial gain (loss) | (576) | 5,100 | |
Benefits paid | 4,427 | 4,709 | |
Benefit obligation at end of year | (89,063) | (90,784) | (86,827) |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Fair value of plan assets at beginning of year | 64,458 | 66,655 | |
Actual return on plan assets | 9,184 | 1,562 | |
Employer contributions | 0 | 950 | |
Fair value of plan assets at end of year | 69,215 | 64,458 | 66,655 |
Funded status, benefit obligations in excess of plan assets | (19,848) | (26,326) | |
Domestic Plan [Member] | Other Postretirement Benefits Plan [Member] | |||
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | |||
Benefit obligation at beginning of year | (372) | (423) | |
Interest cost | (13) | (16) | (24) |
Actuarial gain (loss) | (28) | (20) | |
Benefits paid | 44 | 47 | |
Benefit obligation at end of year | (313) | (372) | $ (423) |
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 | 44 | 47 | |
Fair value of plan assets at end of year | 0 | 0 | |
Funded status, benefit obligations in excess of plan assets | $ (313) | $ (372) |
Pension and Post-Retirement Ben
Pension and Post-Retirement Benefits on Balance Sheet (Details) - USD ($) $ in Thousands | Oct. 31, 2017 | Oct. 31, 2016 |
Defined Benefit Plan Disclosure [Line Items] | ||
Long-term benefit liabilities | $ (21,106) | $ (23,312) |
Pension Plan [Member] | Domestic Plan [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Other accrued expenses (1) | 0 | (4,120) |
Long-term benefit liabilities | (19,848) | (22,206) |
Total | (19,848) | (26,326) |
Other Postretirement Benefits Plan [Member] | Domestic Plan [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Other accrued expenses (1) | (38) | (42) |
Long-term benefit liabilities | (275) | (330) |
Total | $ (313) | $ (372) |
Pension and Other Post-Retire71
Pension and Other Post-Retirement Benefit Matters Components of Net Benefit Costs (Details) - Domestic Plan [Member] - USD ($) $ in Thousands | 12 Months Ended | ||
Oct. 31, 2017 | Oct. 31, 2016 | Oct. 31, 2015 | |
Pension Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Interest Cost | $ 3,282 | $ 3,566 | $ 3,466 |
Expected return on plan assets | (3,455) | (4,568) | (4,698) |
Amortization of net actuarial loss | 1,508 | 1,239 | 1,186 |
Net periodic benefit cost | 1,335 | 237 | (46) |
Other Postretirement Benefits Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Interest Cost | 13 | 16 | 24 |
Expected return on plan assets | 0 | 0 | 0 |
Amortization of net actuarial loss | 10 | 12 | 28 |
Net periodic benefit cost | $ 23 | $ 28 | $ 52 |
Pension and Other Post-Retire72
Pension and Other Post-Retirement Benefit Matters Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Oct. 31, 2017 | Oct. 31, 2016 | Oct. 31, 2015 | |
Defined Benefit Plan Disclosure [Line Items] | |||
Comprehensive income (loss), net | $ 13,528 | $ (2,744) | $ (7,263) |
Pension Plan [Member] | Domestic Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Amortization of net acutarial loss | (1,311) | ||
Defined Benefit Plan, Accumulated Other Comprehensive Income (Loss), Gain (Loss), before Tax | 43,982 | 51,795 | |
Comprehensive income (loss), net | (7,813) | 6,867 | |
Other Postretirement Benefits Plan [Member] | Domestic Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Amortization of net acutarial loss | (7) | ||
Defined Benefit Plan, Accumulated Other Comprehensive Income (Loss), Gain (Loss), before Tax | 84 | 122 | |
Comprehensive income (loss), net | $ (38) | $ 31 |
Pension and Other Post-Retire73
Pension and Other Post-Retirement Benefit Matters Assumptions (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Oct. 31, 2017 | Oct. 31, 2016 | Oct. 31, 2015 | |
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Health Care Cost Trend Rate Assumed, Next Fiscal Year | 7.00% | 7.00% | |
Defined Benefit Plan, Ultimate Health Care Cost Trend Rate | 6.80% | 6.80% | |
Defined Benefit Plan, Year Health Care Cost Trend Rate Reaches Ultimate Trend Rate | 2,019 | 2,018 | |
Defined Benefit Plan, Effect of One Percentage Point Increase on Service and Interest Cost Components | $ 3 | ||
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 | 23 | ||
Defined Benefit Plan, Effect of One Percentage Point Decrease on Accumulated Postretirement Benefit Obligation | $ (20) | ||
Domestic Plan [Member] | Pension Plans, Defined Benefit [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate | 3.65% | 3.70% | 4.20% |
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate | 3.70% | 4.20% | 4.00% |
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Rate of Return on Plan Assets | 6.50% | 7.50% | 7.50% |
Defined Benefit Plan, Benefit Obligation | $ 89,063 | $ 90,784 | $ 86,827 |
Domestic Plan [Member] | Other Postretirement Benefits Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate | 3.65% | 3.70% | 4.20% |
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate | 3.70% | 3.70% | 4.00% |
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Rate of Return on Plan Assets | 0.00% | 0.00% | 0.00% |
Defined Benefit Plan, Benefit Obligation | $ 313 | $ 372 | $ 423 |
Pension and Other Post-Retire74
Pension and Other Post-Retirement Benefit Matters Plan Assets (Details) | 12 Months Ended | |
Oct. 31, 2017 | Oct. 31, 2016 | |
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 | 30-70% | |
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 | 30-70% | |
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-Retire75
Pension and Other Post-Retirement Benefit Matters Fair Value (Details) - USD ($) $ in Thousands | Oct. 31, 2017 | Oct. 31, 2016 |
Retirement Benefits [Abstract] | ||
Financial Instruments, Owned, at Fair Value | $ 69,215 | $ 64,458 |
Pension and Other Post-Retire76
Pension and Other Post-Retirement Benefit Matters Fair Value of Investments (Details) - USD ($) $ in Thousands | Oct. 31, 2017 | Oct. 31, 2016 |
Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investments, Fair Value Disclosure | $ 53,163 | $ 44,716 |
Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investments, Fair Value Disclosure | 16,052 | 19,742 |
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 | 16,778 | 12,904 |
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 | 6,381 | 10,294 |
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 | 8,340 | 7,654 |
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 | 694 | 622 |
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 | 9,169 | 6,420 |
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 Funds [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 Funds [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investments, Fair Value Disclosure | 314 | 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 | 0 | 309 |
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 | 18,876 | 17,738 |
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 | 4,513 | 4,571 |
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 | $ 4,150 | $ 3,946 |
Pension and Other Post-Retire77
Pension and Other Post-Retirement Benefit Matters Pension cash flows (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Oct. 31, 2017 | Oct. 31, 2016 | |
Pension Plan [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Employer contributions | $ 0 | |
Domestic Plan [Member] | Pension Plan [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Employer contributions | 0 | $ 950 |
Defined Benefit Plan, Expected Future Benefit Payment, Next Twelve Months | 4,620 | |
Defined Benefit Plan, Expected Future Benefit Payment, Year Two | 4,380 | |
Defined Benefit Plan, Expected Future Benefit Payment, Year Three | 4,320 | |
Defined Benefit Plan, Expected Future Benefit Payment, Year Four | 4,310 | |
Defined Benefit Plan, Expected Future Benefit Payment, Year Five | 4,850 | |
Defined Benefit Plans, Expected Future Benefit Payments, Thereafter | 25,080 | |
Domestic Plan [Member] | Other Postretirement Benefits Plan [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Employer contributions | 44 | $ 47 |
Defined Benefit Plan, Expected Future Benefit Payment, Next Twelve Months | 38 | |
Defined Benefit Plan, Expected Future Benefit Payment, Year Two | 37 | |
Defined Benefit Plan, Expected Future Benefit Payment, Year Three | 37 | |
Defined Benefit Plan, Expected Future Benefit Payment, Year Four | 26 | |
Defined Benefit Plan, Expected Future Benefit Payment, Year Five | 24 | |
Defined Benefit Plans, Expected Future Benefit Payments, Thereafter | $ 101 |
Pension and Other Post-Retire78
Pension and Other Post-Retirement Benefit Matters Non-U.S. Plans (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Oct. 31, 2017 | Oct. 31, 2016 | Oct. 31, 2015 | |
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Accumulated Benefit Obligation | $ 1,008 | $ 826 | |
Pension Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Employer contributions | 0 | ||
POLAND | Pension Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Employer contributions | $ 148 | $ 162 | $ 115 |
Pension and Other Post-Retire79
Pension and Other Post-Retirement Benefit Matters Defined Contribution Plan (Details) $ in Thousands | 12 Months Ended | ||
Oct. 31, 2017USD ($)employee | Oct. 31, 2016USD ($) | Oct. 31, 2015USD ($) | |
Retirement Benefits [Abstract] | |||
Defined Contribution Plan, Cost | $ | $ 4,310 | $ 3,845 | $ 3,959 |
Entity Number of Employees | employee | 3,600 | ||
Percent of U. S. employees represented by labor unions | 17.00% | ||
Percent of foreign employees represented by labor unions | 92.00% |
Fair Value of Other Financial80
Fair Value of Other Financial Instruments Fair Value of Other Financial Instruments (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Oct. 31, 2017 | Oct. 31, 2016 | Oct. 31, 2015 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Asset impairment, net | $ 241 | $ 2,031 | $ 0 |
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Asset impairment, net | 200 | ||
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 | (2,088) | (5,036) | |
Available-for-sale Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative, Fair Value, Net | $ 194 | ||
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 | $ 174 |
Common Stock Common Stock (Deta
Common Stock Common Stock (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Oct. 31, 2017 | Jul. 19, 2017 | |
Class of Stock [Line Items] | ||
Shares Issued | 5,250,000 | |
Value of Shares Issued | $ 40,227 | |
Underwriting discounts and offering costs | $ 3,086 | |
Maximum [Member] | ||
Class of Stock [Line Items] | ||
Aggregate Offering Price | $ 175,000 |
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, 2017 | Jul. 31, 2017 | Apr. 30, 2017 | Jan. 31, 2017 | Oct. 31, 2016 | Jul. 31, 2016 | Apr. 30, 2016 | Jan. 31, 2016 | Oct. 31, 2017 | Oct. 31, 2016 | Oct. 31, 2015 | |
Equity [Abstract] | |||||||||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 68 | 53 | 143 | ||||||||
Net income available to common stockholders | $ (926) | $ (1,982) | $ 4,229 | $ (2,018) | $ 5,265 | $ (678) | $ 4,209 | $ (5,127) | $ (697) | $ 3,669 | $ 5,905 |
Basic weighted average number of common shares | 23,055 | 18,559 | 17,858 | 17,720 | 17,614 | 17,614 | 17,615 | 17,342 | 19,233 | 17,513 | 17,287 |
Restricted stock units and stock options (1) | 0 | 13 | 23 | ||||||||
Diluted weighted average number of common shares | 23,055 | 18,559 | 17,888 | 17,720 | 17,629 | 17,614 | 17,620 | 17,342 | 19,233 | 17,526 | 17,310 |
Basic income (loss) per share | $ (0.04) | $ (0.11) | $ 0.24 | $ (0.11) | $ 0.31 | $ (0.04) | $ 0.24 | $ (0.30) | $ (0.04) | $ 0.21 | $ 0.34 |
Diluted income (loss) per share | $ (0.04) | $ (0.11) | $ 0.24 | $ (0.11) | $ 0.31 | $ (0.04) | $ 0.24 | $ (0.30) | $ (0.04) | $ 0.21 | $ 0.34 |
Stock Incentive Compensation St
Stock Incentive Compensation Stock Incentive Plan (Details) | 12 Months Ended |
Oct. 31, 2017shares | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 1,500,000 |
Employee Stock Option and / or Stock Appreication Righs (SARs) [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Share-based Compensation Arrangement by Share-based Payment Award, Maximum Number of Shares Per Employee | 500,000 |
Restricted Stock, Restricted Stock Units (RSUs) and Performance Based Awards [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Share-based Compensation Arrangement by Share-based Payment Award, Maximum Number of Shares Per Employee | 350,000 |
Stock Incentive Compensation Aw
Stock Incentive Compensation Awards Granted During the Year (Details) - $ / shares | 12 Months Ended | |||
Oct. 31, 2017 | Oct. 31, 2016 | Oct. 31, 2015 | Oct. 31, 2014 | |
Restricted Stock [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 246,995 | 312,251 | 84,272 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 7.94 | $ 4.30 | $ 11.22 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number | 441,282 | 376,340 | 124,255 | 116,881 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value | $ 7.07 | $ 6.11 | $ 13.77 | $ 16.81 |
Restricted Stock Units (RSUs) [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 29,253 | 21,539 | 0 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 8.62 | $ 4.17 | $ 0 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number | 35,815 | 21,539 | 0 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value | $ 7.69 | $ 4.17 | $ 0 |
Stock Incentive Compensation 85
Stock Incentive Compensation Stock Activity - Options and Restricted (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | |||
Oct. 31, 2017 | Oct. 31, 2016 | Oct. 31, 2015 | Oct. 31, 2014 | |
Stock Options Activity | ||||
Options outstanding, end of period | 58,166 | |||
Weighted Average Exercise Price Options | ||||
Granted | $ 0 | |||
Employee Stock Option [Member] | ||||
Restricted Stock Activity [Line Items] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | $ 40 | $ 18 | ||
Stock Options Activity | ||||
Options outstanding, beginning of period | 89,666 | 90,666 | 123,333 | |
Options Granted | 0 | 0 | 0 | |
Options Exercised | (8,000) | 0 | (19,317) | |
Forfeited or expired | (23,500) | (1,000) | (13,350) | |
Options outstanding, end of period | 58,166 | 89,666 | 90,666 | 123,333 |
Weighted Average Exercise Price Options | ||||
Weighted average option price, outstanding, beginning of period | $ 9.67 | $ 9.70 | $ 9.69 | |
Granted | 0 | 0 | ||
Options exercised or restricted stock vested | 9.79 | 0 | 8.19 | |
Forfeited or expired | 13.38 | 12.04 | 11.80 | |
Weighted average option price, outstanding, end of period | $ 8.16 | $ 9.67 | $ 9.70 | $ 9.69 |
Weighted Avg Remaining Contractual LIfe | 2 years 6 months 10 days | 3 years 15 days | 4 years 1 month 5 days | 5 years 1 month 25 days |
Restricted Stock [Member] | ||||
Restricted Stock Activity [Line Items] | ||||
Restricted stock, beginning of period | 376,340 | 124,255 | 116,881 | |
Granted | 246,995 | 312,251 | 84,272 | |
Vested | (174,262) | (54,349) | (68,648) | |
Forfeited | (7,791) | (5,817) | (8,250) | |
Restricted stock, end of period | 441,282 | 376,340 | 124,255 | 116,881 |
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, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value | $ 7.07 | $ 6.11 | $ 13.77 | $ 16.81 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | 7.94 | 4.30 | 11.22 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value | 6.11 | 16.53 | 14.99 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value | $ 9.57 | $ 5.71 | $ 20.64 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Outstanding, Weighted Average Remaining Contractual Terms | 1 year 7 months 6 days | 1 year 10 months | 2 years 3 months 10 days | 2 years 6 months 30 days |
Restricted Stock Units (RSUs) [Member] | ||||
Restricted Stock Activity [Line Items] | ||||
Restricted stock, beginning of period | 21,539 | 0 | ||
Granted | 29,253 | 21,539 | 0 | |
Vested | (13,574) | 0 | 0 | |
Forfeited | (1,403) | 0 | 0 | |
Restricted stock, end of period | 35,815 | 21,539 | 0 | |
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, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value | $ 7.69 | $ 4.17 | $ 0 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | 8.62 | 4.17 | 0 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value | 4.17 | 0 | 0 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value | $ 7.06 | $ 0 | $ 0 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Outstanding, Weighted Average Remaining Contractual Terms | 1 year 9 months 25 days | 1 year 5 months 16 days |
Stock Incentive Compensation Co
Stock Incentive Compensation Compensation Expense (Details) - USD ($) | 12 Months Ended | ||
Oct. 31, 2017 | Oct. 31, 2016 | Oct. 31, 2015 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Allocated Share-based Compensation Expense | $ 1,698,000 | $ 1,072,000 | $ 1,025,000 |
Employee Stock Option [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Allocated Share-based Compensation Expense | 0 | 0 | 15,000 |
Restricted Stock [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Allocated Share-based Compensation Expense | 1,583,000 | 1,035,000 | 1,010,000 |
Restricted Stock Units (RSUs) [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Allocated Share-based Compensation Expense | 115,000 | $ 37,000 | $ 0 |
Accounting Standards Update 2016-09 [Member] | Restricted Stock [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Allocated Share-based Compensation Expense | $ 60,000 |
Stock Incentive Compensation 87
Stock Incentive Compensation Stock Components Outstanding and Exercisable (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | |||
Oct. 31, 2017 | Oct. 31, 2016 | Oct. 31, 2015 | Oct. 31, 2014 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||||
Restricted stock and exercise of stock options | $ 78 | $ 0 | $ 159 | |
Options Outstanding | 58,166 | |||
Options Exercisable | 58,166 | |||
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 | 1 year 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 | 18,166 | |||
Exercise Price of Options Outstanding and Options Exercisable | $ 5.30 | |||
Options Exercisable | 18,166 | |||
Weighted Avg Remaining Contractual LIfe | 1 year 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 | 26,000 | |||
Exercise Price of Options Outstanding and Options Exercisable | $ 12.04 | |||
Options Exercisable | 26,000 | |||
Weighted Avg Remaining Contractual LIfe | 3 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 | 6,000 | |||
Exercise Price of Options Outstanding and Options Exercisable | $ 8.10 | |||
Options Exercisable | 6,000 | |||
Weighted Avg Remaining Contractual LIfe | 4 years 1 month 21 days | |||
Employee Stock Option [Member] | ||||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | $ 137 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | $ 40 | $ 18 | ||
Options Outstanding | 58,166 | 89,666 | 90,666 | 123,333 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price | $ 8.16 | $ 9.67 | $ 9.70 | $ 9.69 |
Weighted Avg Remaining Contractual LIfe | 2 years 6 months 10 days | 3 years 15 days | 4 years 1 month 5 days | 5 years 1 month 25 days |
Restricted Stock [Member] | ||||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $ 1,982 | |||
Restricted Stock Units (RSUs) [Member] | ||||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $ 181 |
Stock Incentive Compensation 88
Stock Incentive Compensation Stock Based Compensation Cash Incentive Awards (Details) | Dec. 14, 2016employee | Mar. 10, 2016employee | Oct. 31, 2017USD ($) | Oct. 31, 2016USD ($) | Oct. 31, 2015USD ($) |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Allocated Share-based Compensation Expense | $ 1,698,000 | $ 1,072,000 | $ 1,025,000 | ||
Cash Incentive Awards [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Number of Award Recipients | employee | 70 | 12 | |||
Allocated Share-based Compensation Expense | 536,000 | ||||
Other Liabilities, Noncurrent | $ 536,000 | ||||
Cash Incentive Awards [Member] | Minimum [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Performance Range | 0.00% | ||||
Cash Incentive Awards [Member] | Maximum [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Performance Range | 200.00% |
Stock Incentive Compensation In
Stock Incentive Compensation Incentive Bonus Plan (Details) $ in Thousands | 12 Months Ended |
Oct. 31, 2017USD ($) | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Accrued Bonuses | $ 9,660 |
Eligible Corporate Employees [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Accured Bonus, Criteria Based Upon Achieving Company Goals | 50.00% |
Income Taxes (Details)
Income Taxes (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Oct. 31, 2017 | Jul. 31, 2017 | Apr. 30, 2017 | Jan. 31, 2017 | Oct. 31, 2016 | Jul. 31, 2016 | Apr. 30, 2016 | Jan. 31, 2016 | Oct. 31, 2017 | Oct. 31, 2016 | Oct. 31, 2015 | |
Income Tax Disclosure [Abstract] | |||||||||||
Domestic | $ 4,251 | $ 3,917 | $ 17,063 | ||||||||
Foreign | 2,172 | (5,400) | (6,448) | ||||||||
Income before income taxes | (6,423) | 1,483 | (10,615) | ||||||||
Federal | 66 | (3,900) | (545) | ||||||||
State and Local | 386 | 329 | 384 | ||||||||
Foreign | 2,494 | 1,123 | 608 | ||||||||
Total current | 2,946 | (2,448) | 447 | ||||||||
Federal | 856 | 3,289 | 4,501 | ||||||||
State and Local | (329) | 156 | 208 | ||||||||
Foreign | 3,647 | (6,149) | (446) | ||||||||
Total deferred | 4,174 | (2,704) | 4,263 | ||||||||
Provision (benefit) for income taxes | $ 434 | $ 4,439 | $ 2,323 | $ (76) | $ (4,949) | $ 1,344 | $ 364 | $ (1,911) | $ 7,120 | $ (5,152) | $ 4,710 |
Income Taxes Deferred Tax Asset
Income Taxes Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Oct. 31, 2017 | Oct. 31, 2016 | Oct. 31, 2015 | |
Income Tax Disclosure [Abstract] | |||
Accrued compensation and benefits | $ 1,793 | $ 2,091 | |
Inventory | 1,721 | 646 | |
State depreciation adjustments and loss carryforwards | 4,213 | 2,664 | |
Pension obligations and post retirement benefits | 7,432 | 10,229 | |
Foreign net operating loss | 8,851 | 7,466 | |
Other accruals, reserves and tax credits | 3,070 | 3,668 | |
Goodwill and intangible amortization | 6,269 | 7,234 | |
Foreign currency translation | 30 | 75 | |
Interest rate swap | 771 | 1,922 | |
Total deferred tax assets | 34,150 | 35,995 | |
Less: Valuation allowance | (9,401) | (2,782) | |
Net deferred tax assets | 24,749 | 33,213 | |
Fixed assets | (26,742) | (26,800) | |
Prepaid expenses and other | (835) | (1,173) | |
Net deferred tax (liability) asset | 5,240 | ||
Deferred Tax Liabilities, Net | (2,828) | ||
Change in net deferred tax asset attributable to the provision for deferred taxes | (4,174) | 2,704 | $ (4,263) |
Unrecognized tax benefit adjustments | 453 | (207) | |
Pension and post retirement benefits | (3,001) | 2,986 | (387) |
Velocys investment | (250) | 58 | 248 |
Income tax benefit (provision) | (1,151) | 111 | $ 861 |
Other adjustments | 55 | (27) | |
Total change in net deferred tax asset | $ (8,068) | $ 5,625 |
Income Taxes Activities and bal
Income Taxes Activities and balances of unrecognized tax benefits (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Oct. 31, 2017 | Oct. 31, 2016 | Oct. 31, 2015 | |
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||
Balance at beginning of year | $ 561 | $ 731 | $ 1,068 |
Additions based on tax positions related to the current year | 88 | 48 | 125 |
Additions for tax positions of prior years | 9 | 0 | 27 |
Reductions based on tax positions related to the current year | 0 | 0 | (39) |
Reductions for tax positions of prior years | 0 | (53) | 0 |
Reductions as result of lapse of applicable statute of limitations | (118) | (165) | (450) |
Balance at end of year | 540 | 561 | $ 731 |
Unrecognized Tax Benefits that Would Impact Effective Tax Rate | 355 | 368 | |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense | 102 | 218 | |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued | $ 411 | $ 513 |
Income Taxes Tax Credits (Detai
Income Taxes Tax Credits (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Oct. 31, 2017 | Oct. 31, 2016 | |
Operating Loss Carryforwards [Line Items] | ||
Deferred Tax Assets, Valuation Allowance | $ 9,401 | $ 2,782 |
Valuation Allowance, Deferred Tax Asset, Change in Amount | 6,619 | |
Change in Valuation Allowance attributable to state and local operating loss carryforwards | 1,636 | |
Change in Valuation Allowance attributable to foreign operating loss carryforwards | 12,562 | 9,604 |
Mexican Tax Authority [Member] | Foreign Tax Authority [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Change in Valuation Allowance attributable to foreign operating loss carryforwards | 1,384 | 1,007 |
Chinese Tax Authority [Member] | Foreign Tax Authority [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Change in Valuation Allowance attributable to foreign operating loss carryforwards | 742 | 373 |
Netherlands Tax Authority Member] | Foreign Tax Authority [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Change in Valuation Allowance attributable to foreign operating loss carryforwards | 742 | 35 |
Swedish Tax Authority [Member] | Foreign Tax Authority [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Change in Valuation Allowance attributable to foreign operating loss carryforwards | $ 5,898 | $ 6,000 |
Income Taxes Statutory federal
Income Taxes Statutory federal income tax rate (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Oct. 31, 2017 | Jul. 31, 2017 | Apr. 30, 2017 | Jan. 31, 2017 | Oct. 31, 2016 | Jul. 31, 2016 | Apr. 30, 2016 | Jan. 31, 2016 | Oct. 31, 2017 | Oct. 31, 2016 | Oct. 31, 2015 | |
Income Tax Disclosure [Abstract] | |||||||||||
Federal Income Tax Expense (Benefit), Continuing Operations | $ 2,248 | $ (519) | $ 3,715 | ||||||||
State and Local Income Tax Expense (Benefit), Continuing Operations | (1,639) | 65 | 499 | ||||||||
Valuation allowance change | 5,749 | (5,452) | 1,337 | ||||||||
Domestic tax credits | (803) | (930) | (223) | ||||||||
Domestic production activities deduction | (455) | (391) | (340) | ||||||||
Foreign operations | 1,182 | 2,240 | 1,401 | ||||||||
Adjustment of uncertain tax positions | (83) | (173) | (340) | ||||||||
Provision to return adjustment for tax law extensions subsequent to year-end | 285 | 202 | (1,380) | ||||||||
Other | 636 | (194) | 41 | ||||||||
Total income tax expense (benefit) | $ 434 | $ 4,439 | $ 2,323 | $ (76) | $ (4,949) | $ 1,344 | $ 364 | $ (1,911) | $ 7,120 | $ (5,152) | $ 4,710 |
Income Taxes Carryforwards (Det
Income Taxes Carryforwards (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Jul. 31, 2017 | Oct. 31, 2017 | Oct. 31, 2016 | |
Operating Loss Carryforwards [Line Items] | |||
NOL Carryforward | $ 103,689 | $ 71,834 | |
NOL Tax Benefit | 12,562 | 9,604 | |
Valuation Allowance | 6,707 | 2,534 | |
Total | 103,689 | 71,834 | |
Total | 6,955 | 2,782 | |
Valuation Allowance, Deferred Tax Asset, Change in Amount | 6,619 | ||
Change in Valuation Allowance attributable to state and local operating loss carryforwards | 1,636 | ||
State and Local Jurisdiction [Member] | |||
Operating Loss Carryforwards [Line Items] | |||
NOL Carryforward | 39,331 | ||
NOL Tax Benefit | 2,138 | ||
Valuation Allowance | 3,711 | 2,075 | |
Foreign Tax Credit Carryforward [Member] | Domestic Tax Authority [Member] | |||
Operating Loss Carryforwards [Line Items] | |||
NOL Tax Benefit | 0 | 0 | |
Foreign Tax Credit NOL Carryforward | 0 | 0 | |
Foreign Tax Credit Valuation Allowance | 248 | 248 | |
Netherlands Tax Authority Member] | Foreign Tax Authority [Member] | |||
Operating Loss Carryforwards [Line Items] | |||
Cumulative Change in Valuation Allowance attributable to foreign operating loss carryforwards | 707 | ||
NOL Carryforward | 3,711 | 174 | |
NOL Tax Benefit | 742 | 35 | |
Valuation Allowance | $ 742 | 35 | |
Operating Loss Carryforwards, Expiration Date | 9 years | ||
Swedish Tax Authority [Member] | |||
Operating Loss Carryforwards [Line Items] | |||
Valuation Allowance | 0 | ||
Swedish Tax Authority [Member] | Foreign Tax Authority [Member] | |||
Operating Loss Carryforwards [Line Items] | |||
Cumulative Change in Valuation Allowance attributable to foreign operating loss carryforwards | $ 43 | ||
NOL Carryforward | 26,811 | 27,271 | |
NOL Tax Benefit | 5,898 | 6,000 | |
Valuation Allowance | 43 | ||
Chinese Tax Authority [Member] | Foreign Tax Authority [Member] | |||
Operating Loss Carryforwards [Line Items] | |||
Cumulative Change in Valuation Allowance attributable to foreign operating loss carryforwards | 369 | ||
NOL Carryforward | 2,968 | 1,494 | |
NOL Tax Benefit | 742 | 373 | |
Valuation Allowance | $ 742 | 373 | |
Operating Loss Carryforwards, Expiration Date | 5 years | ||
Inland Revenue, Hong Kong [Member] | Foreign Tax Authority [Member] | |||
Operating Loss Carryforwards [Line Items] | |||
Cumulative Change in Valuation Allowance attributable to foreign operating loss carryforwards | $ 33 | ||
NOL Carryforward | 338 | 206 | |
NOL Tax Benefit | 85 | 51 | |
Valuation Allowance | 85 | 51 | |
Mexican Tax Authority [Member] | Foreign Tax Authority [Member] | |||
Operating Loss Carryforwards [Line Items] | |||
Cumulative Change in Valuation Allowance attributable to foreign operating loss carryforwards | $ 3,124 | 3,831 | |
NOL Carryforward | 4,614 | 3,358 | |
NOL Tax Benefit | 1,384 | 1,007 | |
Valuation Allowance | 1,384 | $ 0 | |
Domestic Tax Authority [Member] | State and Local Jurisdiction [Member] | |||
Operating Loss Carryforwards [Line Items] | |||
NOL Carryforward | 65,247 | ||
NOL Tax Benefit | $ 3,711 |
Income Taxes Cash paid for taxe
Income Taxes Cash paid for taxes (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Oct. 31, 2017 | Oct. 31, 2016 | Oct. 31, 2015 | |
Income Tax Disclosure [Abstract] | |||
Cash paid for (refund of) income taxes | $ 1,780 | $ (5,855) | $ 1,770 |
Proceeds from Income Tax Refunds | $ 5,855 | ||
Deferred Tax Liabilities, Undistributed Foreign Earnings | 19,282 | ||
Effective Income Tax Rate Reconciliation, Repatriation of Foreign Earnings, Amount | $ 6,749 |
Accumulated Other Comprehensi97
Accumulated Other Comprehensive Loss Amounts Recognized Into Other Comprehensive Income (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Oct. 31, 2017 | Oct. 31, 2016 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Stockholders' equity, beginning balance | $ 132,790 | $ 134,462 |
Stockholders' equity, ending balance | 188,321 | 132,790 |
Accumulated Other Comprehensive Income (Loss) [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Stockholders' equity, beginning balance | (56,462) | (50,049) |
Other comprehensive income | 13,910 | (12,709) |
Amounts reclassified from accumulated other comprehensive loss, net of tax | 315 | 6,296 |
Net current-period other comprehensive income | 14,225 | (6,413) |
Stockholders' equity, ending balance | (42,237) | (56,462) |
Pension and Post Retirement Plan Liability (1) | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Stockholders' equity, beginning balance | (32,659) | (28,809) |
Other comprehensive income | 6,333 | (8,087) |
Amounts reclassified from accumulated other comprehensive loss, net of tax | (1,521) | 4,237 |
Net current-period other comprehensive income | 4,812 | (3,850) |
Stockholders' equity, ending balance | (27,847) | (32,659) |
Marketable Securities Adjustment | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Stockholders' equity, beginning balance | (466) | (341) |
Other comprehensive income | 29 | (125) |
Amounts reclassified from accumulated other comprehensive loss, net of tax | 435 | 0 |
Net current-period other comprehensive income | 464 | (125) |
Stockholders' equity, ending balance | (2) | (466) |
Interest Rate Swap Adjustment (2) | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Stockholders' equity, beginning balance | (3,112) | (3,176) |
Other comprehensive income | 392 | (1,466) |
Amounts reclassified from accumulated other comprehensive loss, net of tax | 1,401 | 1,530 |
Net current-period other comprehensive income | 1,793 | 64 |
Stockholders' equity, ending balance | (1,319) | (3,112) |
Foreign Currency Translation Adjustment (3) | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Stockholders' equity, beginning balance | (20,225) | (17,723) |
Other comprehensive income | 7,156 | (3,031) |
Amounts reclassified from accumulated other comprehensive loss, net of tax | 0 | 529 |
Net current-period other comprehensive income | 7,156 | (2,502) |
Stockholders' equity, ending balance | $ (13,069) | $ (20,225) |
Related Party Transactions (Det
Related Party Transactions (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Oct. 31, 2017 | Oct. 31, 2016 | Oct. 31, 2015 | |
Related Party Transaction [Line Items] | |||
Related-party accounts receivable | $ 759 | $ 1,235 | |
MTD Holdings Inc. [Member] | Significant Shareholder [Member] | |||
Related Party Transaction [Line Items] | |||
Related-party revenue | $ 5,129 | $ 5,730 | $ 6,411 |
Business Segment Information (D
Business Segment Information (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Oct. 31, 2017 | Jul. 31, 2017 | Apr. 30, 2017 | Jan. 31, 2017 | Oct. 31, 2016 | Jul. 31, 2016 | Apr. 30, 2016 | Jan. 31, 2016 | Oct. 31, 2017 | Oct. 31, 2016 | Oct. 31, 2015 | |
Segment Reporting Information [Line Items] | |||||||||||
Net revenues | $ 264,170 | $ 256,847 | $ 273,031 | $ 247,938 | $ 281,683 | $ 248,832 | $ 284,264 | $ 251,055 | $ 1,041,986 | $ 1,065,834 | $ 1,073,052 |
Long-Lived Assets | 309,775 | 310,606 | 309,775 | 310,606 | 326,758 | ||||||
Reportable Geographical Components [Member] | United States | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Net revenues | 839,013 | 888,164 | 901,182 | ||||||||
Long-Lived Assets | 235,663 | 243,225 | 235,663 | 243,225 | 265,579 | ||||||
Reportable Geographical Components [Member] | Europe | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Net revenues | 169,398 | 143,281 | 132,094 | ||||||||
Long-Lived Assets | 53,569 | 48,709 | 53,569 | 48,709 | 41,695 | ||||||
Reportable Geographical Components [Member] | Rest of World | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Net revenues | 33,575 | 34,389 | 39,776 | ||||||||
Long-Lived Assets | $ 20,543 | $ 18,672 | $ 20,543 | $ 18,672 | $ 19,484 | ||||||
Sales [Member] | Rest of World | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Concentration Risk, Percentage | 19.50% | 16.70% | 15.90% |
Business Segment Information Fo
Business Segment Information Foreign Currency Transaction Gain (Loss) (Details) - Reportable Geographical Components [Member] - USD ($) $ in Thousands | 12 Months Ended | ||
Oct. 31, 2017 | Oct. 31, 2016 | Oct. 31, 2015 | |
Europe | |||
Segment Reporting Information [Line Items] | |||
Foreign Currency Transaction Loss, before Tax | $ (473) | $ (802) | $ (23) |
Non-US [Member] | |||
Segment Reporting Information [Line Items] | |||
Foreign Currency Transaction Loss, before Tax | $ (622) | $ (772) | $ (483) |
Business Segment Information Re
Business Segment Information Revenue by Major Customer (Details) - Sales [Member] | 12 Months Ended | ||
Oct. 31, 2017 | Oct. 31, 2016 | Oct. 31, 2015 | |
General Motors [Member] | |||
Revenue, Major Customer [Line Items] | |||
Concentration Risk, Percentage | 17.90% | 18.20% | 15.50% |
FCA [Member] | |||
Revenue, Major Customer [Line Items] | |||
Concentration Risk, Percentage | 15.00% | 17.10% | 17.40% |
Quarterly Results of Operati102
Quarterly Results of Operations Quarterly Results of Operations (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Oct. 31, 2017 | Jul. 31, 2017 | Apr. 30, 2017 | Jan. 31, 2017 | Oct. 31, 2016 | Jul. 31, 2016 | Apr. 30, 2016 | Jan. 31, 2016 | Oct. 31, 2017 | Oct. 31, 2016 | Oct. 31, 2015 | |
Net revenues | $ 264,170 | $ 256,847 | $ 273,031 | $ 247,938 | $ 281,683 | $ 248,832 | $ 284,264 | $ 251,055 | $ 1,041,986 | $ 1,065,834 | $ 1,073,052 |
Gross profit | 27,912 | 28,855 | 33,216 | 23,800 | 30,096 | 23,910 | 26,281 | 15,889 | 114,133 | 96,176 | 86,187 |
Operating Income (Loss) | 2,712 | 7,039 | 10,957 | 3,006 | 6,240 | 5,798 | 8,724 | (2,292) | 23,714 | 18,470 | 20,864 |
Provision (benefit) for income taxes | 434 | 4,439 | 2,323 | (76) | (4,949) | 1,344 | 364 | (1,911) | 7,120 | (5,152) | 4,710 |
Net income (loss) | $ 926 | $ 1,982 | $ (4,229) | $ 2,018 | $ (5,265) | $ 678 | $ (4,209) | $ 5,127 | $ 697 | $ (3,669) | $ (5,905) |
Net income (loss) per share basic | $ (0.04) | $ (0.11) | $ 0.24 | $ (0.11) | $ 0.31 | $ (0.04) | $ 0.24 | $ (0.30) | $ (0.04) | $ 0.21 | $ 0.34 |
Net income (loss) per share diluted | $ (0.04) | $ (0.11) | $ 0.24 | $ (0.11) | $ 0.31 | $ (0.04) | $ 0.24 | $ (0.30) | $ (0.04) | $ 0.21 | $ 0.34 |
Basic | 23,055 | 18,559 | 17,858 | 17,720 | 17,614 | 17,614 | 17,615 | 17,342 | 19,233 | 17,513 | 17,287 |
Diluted | 23,055 | 18,559 | 17,888 | 17,720 | 17,629 | 17,614 | 17,620 | 17,342 | 19,233 | 17,526 | 17,310 |