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SELECTED FINANCIAL STATEMENT INFORMATION | 9 Months Ended
--- | ---
Jul. 31, 2015
Selected Financial Statement Information [Abstract] |
Selected Financial Statement Information [Text Block] | SELECTED FINANCIAL STATEMENT INFORMATION Accounts Receivable
(in thousands) |  | July 31, 2015 |  | October 31, 2014
Accounts receivable |  |  | $153,185 |  |  |  | $151,812 |
Less: Allowance for doubtful accounts |  | (2,255 | ) |  | (2,143 | )
Accounts receivable, net |  |  | $150,930 |  |  |  | $149,669 |
Costs and Estimated Earnings on Uncompleted Percentage-of-Completion Contracts
(in thousands) |  | July 31, 2015 |  | October 31, 2014
Costs incurred on uncompleted contracts |  |  | $22,814 |  |  |  | $24,437 |
Estimated earnings |  | 11,761 |  |  | 11,747 |
|  | 34,575 |  |  | 36,184 |
Less: Billings to date |  | (35,284 | ) |  | (29,829 | )
|  |  | ($709 | ) |  |  | $6,355 |
Included in the accompanying Condensed Consolidated Balance Sheets under the following captions: |  |  |  |
Accounts receivable, net (costs and estimated earnings in excess of billings) |  |  | $4,695 |  |  |  | $8,161 |
Accrued expenses and other current liabilities (billings in excess of costs and estimated earnings) |  | (5,404 | ) |  | (1,806 | )
|  |  | ($709 | ) |  |  | $6,355 |
Changes in estimates pertaining to percentage-of-completion contracts did not have a material effect on net income from consolidated operations for the nine and three months ended July 31, 2015 and 2014. Inventories
(in thousands) |  | July 31, 2015 |  | October 31, 2014
Finished products |  |  | $113,626 |  |  |  | $106,229 |
Work in process |  | 32,871 |  |  | 30,056 |
Materials, parts, assemblies and supplies |  | 87,598 |  |  | 79,163 |
Contracts in process |  | 4,508 |  |  | 2,594 |
Less: Billings to date |  | (2,368 | ) |  | — |
Inventories, net of valuation reserves |  |  | $236,235 |  |  |  | $218,042 |
Contracts in process represents accumulated capitalized costs associated with fixed price contracts. Related progress billings and customer advances (“billings to date”) are classified as a reduction to contracts in process, if any, and any excess is included in accrued expenses and other liabilities. Property, Plant and Equipment
(in thousands) |  | July 31, 2015 |  | October 31, 2014
Land |  |  | $4,954 |  |  |  | $4,501 |
Buildings and improvements |  | 69,091 |  |  | 60,332 |
Machinery, equipment and tooling |  | 152,249 |  |  | 139,963 |
Construction in progress |  | 6,630 |  |  | 6,905 |
|  | 232,924 |  |  | 211,701 |
Less: Accumulated depreciation and amortization |  | (129,749 | ) |  | (117,836 | )
Property, plant and equipment, net |  |  | $103,175 |  |  |  | $93,865 |
Accrued Customer Rebates and Credits The aggregate amount of accrued customer rebates and credits included within accrued expenses and other current liabilities in the accompanying Condensed Consolidated Balance Sheets was $7.8 million and $10.9 million as of July 31, 2015 and October 31, 2014, respectively. The total customer rebates and credits deducted within net sales for the nine months ended July 31, 2015 and 2014 was $4.3 million and $5.3 million, respectively. The total customer rebates and credits deducted within net sales for the three months ended July 31, 2015 and 2014 was $1.4 million and $1.9 million, respectively. The decrease in the amount of accrued customer rebates and credits since October 31, 2014 principally reflects payments made during fiscal 2015. Employee Retirement Plan The components of net pension income for the nine and three months ended July 31, 2015 and 2014 that were recorded within the Company's Condensed Consolidated Statements of Operations are as follows (in thousands):
|  | Nine months ended July 31, |  | Three months ended July 31,
|  | 2015 |  | 2014 |  | 2015 |  | 2014
Expected return on plan assets |  |  | $555 |  |  |  | $555 |  |  |  | $185 |  |  |  | $185 |
Interest cost |  | 420 |  |  | 459 |  |  | 140 |  |  | 153 |
Net pension income |  |  | $135 |  |  |  | $96 |  |  |  | $45 |  |  |  | $32 |
Research and Development Expenses The amount of new product research and development ("R&D") expenses included in cost of sales for the nine and three months ended July 31, 2015 and 2014 is as follows (in thousands):
|  | Nine months ended July 31, |  | Three months ended July 31,
|  | 2015 |  | 2014 |  | 2015 |  | 2014
R&D expenses |  |  | $28,860 |  |  |  | $28,278 |  |  |  | $9,421 |  |  |  | $9,862 |
Redeemable Noncontrolling Interests The holders of equity interests in certain of the Company's subsidiaries have put rights that may be exercised on varying dates causing the Company to give cash consideration to purchase their equity interests based on fair value or a formula that management intended to reasonably approximate fair value based solely on a multiple of future earnings over a measurement period. Management's estimate of the aggregate redemption amount of all put rights (inclusive of the fiscal 2015 transactions described below) that the Company could be required to pay at varying dates through fiscal 2023 is as follows (in thousands):
|  | July 31, 2015 |  | October 31, 2014
Redeemable at fair value |  |  | $52,521 |  |  |  | $27,666 |
Redeemable based on a multiple of future earnings |  | 12,300 |  |  | 12,300 |
Redeemable noncontrolling interests |  |  | $64,821 |  |  |  | $39,966 |
As discussed in Note 2, Acquisitions, the Company, through the FSG, acquired interests of 80% and 80.1% in Aeroworks and Harter, respectively, in January 2015. As part of the Aeroworks purchase agreement, the Company has the right to purchase the noncontrolling interest over a four-year period beginning in fiscal 2019, or sooner under certain conditions, and the noncontrolling interest holder has the right to cause the Company to purchase the same equity interest over the same period. As part of the Harter purchase agreement, the Company has the right to purchase the noncontrolling interests over a four-year period beginning in fiscal 2020, or sooner under certain conditions, and the noncontrolling interest holders have the right to cause the Company to purchase the same equity interests over the same period. Accumulated Other Comprehensive Loss Changes in the components of accumulated other comprehensive loss for the nine months ended July 31, 2015 are as follows (in thousands):
|  | Foreign Currency Translation |  | Pension Benefit Obligation |  | Accumulated Other Comprehensive Loss
Balances as of October 31, 2014 |  |  | ($8,348 | ) |  |  | $59 |  |  |  | ($8,289 | )
Unrealized loss |  | (16,273 | ) |  | — |  |  | (16,273 | )
Balances as of July 31, 2015 |  |  | ($24,621 | ) |  |  | $59 |  |  |  | ($24,562 | )

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