Liabilities and Restructuring Charges

9 Months Ended

Jul. 31, 2019

Liabilities and Restructuring Charges [Abstract]

In the second quarter of fiscal 2019, the Company initiated restructuring plans for involuntary and voluntary employee termination and facility closure actions as part of a business reorganization to better position the Company for future growth by reallocating resources to priority areas, and to a lesser extent, eliminating operational redundancy. The total charges under the 2019 restructuring plans are expected to be $43 million to $65 million and consist primarily of severance, termination, and retirement benefits under the 2019 Voluntary Retirement Program (VRP). The actual total charges depend, in part, on the number of eligible employees accepting offers of the VRP. The 2019 restructuring plans are anticipated to be completed by the second quarter of fiscal 2020.

During the three and nine months ended July 31, 2019, the Company incurred restructuring charges of approximately $19.3 million and $33.7 million, respectively, for involuntary employee termination actions and the VRP. These charges consist primarily of severance, termination, and retirement benefits. As of July 31, 2019, $20.8 million remained outstanding and was recorded in accounts payable and accrued liabilities in the unaudited condensed consolidated balance sheets.

During the nine months ended July 31, 2018, the Company incurred restructuring charges of approximately $1.9 million as part of a business realignment. Total charges under this realignment were expected to be $8 million to $10 million consisting of severance and benefits. The outstanding balance as of July 31, 2019 was immaterial. As of October 31, 2018, $8.1 million remained outstanding and was recorded in accounts payable and accrued liabilities in the consolidated balance sheets.

Accounts payable and accrued liabilities consist of:



	As of July 31, 2019		As of October 31, 2018
	(in thousands)
Payroll and related benefits	$	391,593	$	413,307
Other accrued liabilities	65,190		79,973
Accounts payable	14,846		85,046
Total	$	471,629	$	578,326

Other long-term liabilities consist of:



	As of July 31, 2019		As of October 31, 2018
	(in thousands)
Deferred compensation liability	$	248,510	$	212,165
Other long-term liabilities	90,418		53,395
Total	$	338,928	$	265,560