XML 15 R17.htm IDEA: XBRL DOCUMENT
v2.4.0.8

EMPLOYEE RETIREMENT PLAN EMPLOYEE RETIREMENT PLAN | 9 Months Ended
--- | ---
Jul. 31, 2013
Compensation and Retirement Disclosure [Abstract] |
Pension and Other Postretirement Benefits Disclosure [Text Block] | EMPLOYEE RETIREMENT PLAN In connection with the acquisition of Reinhold (see Note 2, Acquisitions), the Company assumed Reinhold's frozen qualified defined benefit pension plan (the "Plan"). The Plan's benefits are based on employee compensation and years of service. However, since the Plan was closed to new participants effective December 31, 2004, the accrued benefit for Plan participants was fixed as of the date of acquisition. The acquired projected benefit obligation and plan assets were recorded at fair value as of the acquisition date. Changes in the Plan's projected benefit obligation and plan assets since the acquisition are as follows (in thousands):
Change in projected benefit obligation: |  |
Acquired projected benefit obligation |  |  | $14,539 |
Interest cost |  | 95 |
Benefits paid |  | (160 | )
Projected benefit obligation as of July 31, 2013 |  |  | $14,474 |
Change in plan assets: |  |
Acquired plan assets |  |  | $11,674 |
Expected return on plan assets |  | 128 |
Benefits paid |  | (160 | )
Plan assets as of July 31, 2013 |  |  | $11,642 |
The $2.8 million difference between the projected benefit obligation and plan assets as of July 31, 2013 was included in other long-term liabilities within the Company's Condensed Consolidated Balance Sheet. Components of net benefit income since the acquisition within the Company's Condensed Statement of Operations are as follows (in thousands):
Expected return on plan assets |  |  | $128 |
Interest cost |  | 95 |
Net benefit income |  |  | $33 |
The Company has not made any contributions to the Plan since the acquisition and does not expect to be required to make contributions to the Plan during the remainder of fiscal 2013. Estimated future benefit payments for the remainder of fiscal 2013 are $.2 million. Estimated future benefit payments to be made from fiscal 2014 to fiscal 2023 are as follows (in thousands):
Year ending October 31, |  |
2014 |  |  | $965 |
2015 |  | 936 |
2016 |  | 920 |
2017 |  | 904 |
2018 |  | 892 |
2019-2023 |  | 4,280 |
As of July 31, 2013, 80% of the Plan's assets were invested in fixed-income securities and 20% were invested in equity securities, which match the Plan's current investment target allocations. The Company is currently evaluating the Plan's asset allocation policy which was established prior to the acquisition. The Company's objective is to maximize long-term investment return while maintaining an acceptable level of risk that is accomplished through broad diversification of the Plan's assets.

X
- Details
Name: | us-gaap_CompensationAndRetirementDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for pension and other postretirement benefits. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -URI http://asc.fasb.org/topic&trid=2235017 + Details
Name: | us-gaap_PensionAndOtherPostretirementBenefitsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration