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REVENUE
 6 Months Ended
Apr. 30, 2023
Revenue from Contract with Customer [Abstract]  
Revenue from Contract with Customer [Text Block] REVENUE
    
Contract Balances

    Contract assets (unbilled receivables) represent revenue recognized on contracts using an over-time recognition model in excess of amounts invoiced to the customer. Contract liabilities (deferred revenue) represent customer advances and billings in excess of revenue recognized and are included within accrued expenses and other current liabilities in the Company’s Condensed Consolidated Balance Sheets.    

    Changes in the Company’s contract assets and liabilities for the six months ended April 30, 2023 are as follows (in thousands):
April 30, 2023October 31, 2022Change
Contract assets $103,448 $93,978 $9,470 
Contract liabilities 85,38158,757 26,624 
Net contract assets $18,067 $35,221 ($17,154)

The increase in the Company's contract assets during the first six months of fiscal 2023 mainly reflects additional unbilled receivables on certain customer contracts using an over-time recognition model in excess of billings on certain customer contracts at both the FSG and ETG.

The increase in the Company's contract liabilities during the first six months of fiscal 2023 principally reflects the receipt of advance deposits on certain customer contracts mainly at the FSG.

The amount of revenue that the Company recognized during the six and three months ended April 30, 2023 that was included in contract liabilities as of the beginning of fiscal 2023 was $30.1 million and $9.8 million, respectively.
    
Remaining Performance Obligations

As of April 30, 2023, the Company had $606.7 million of remaining performance obligations associated with contracts with an original duration of greater than one year pertaining to the majority of the products offered by the ETG as well as certain products of the FSG's specialty products and aftermarket replacement parts product lines. The Company will recognize net sales as these obligations are satisfied. The Company expects to recognize $217.4 million of
this amount during the remainder of fiscal 2023 and $389.3 million thereafter, of which more than half is expected to occur in fiscal 2024.    

Disaggregation of Revenue

    The following table summarizes the Company’s net sales by product line for each operating segment (in thousands):
Six months ended April 30,Three months ended April 30,
2023202220232022
Flight Support Group:
Aftermarket replacement parts (1)
$426,986 $324,882 $218,343 $173,981 
Specialty products (2)
187,493 126,579 96,008 67,286 
Repair and overhaul parts and services (3)
149,001 127,533 77,851 65,046 
Total net sales763,480 578,994 392,202 306,313 
Electronic Technologies Group:
Electronic component parts primarily for
defense, space and aerospace equipment (4)
395,320 319,909 220,742 162,441 
Electronic component parts for equipment
in various other industries (5)
161,498 139,820 81,017 74,952 
Total net sales556,818 459,729 301,759 237,393 
Intersegment sales(11,542)(9,567)(6,120)(4,893)
Total consolidated net sales$1,308,756 $1,029,156 $687,841 $538,813 

(1)    Includes various jet engine and aircraft component replacement parts.
(2)    Includes primarily the sale of specialty components such as thermal insulation blankets, renewable/reusable insulation systems, advanced niche components, complex composite assemblies, and expanded foil mesh as well as machining, brazing, fabricating and welding services generally to original equipment manufacturers.
(3)    Includes primarily the sale of parts consumed in various repair and overhaul services on selected jet engine and aircraft components, avionics, instruments, composites and flight surfaces of commercial and military aircraft.
(4)    Includes various component parts such as electro-optical infrared simulation and test equipment, electro-optical laser products, electro-optical, microwave and other power equipment, high-speed interface products, power conversion products, underwater locator beacons, emergency locator transmission beacons, traveling wave tube amplifiers, microwave power modules, a wide variety of memory products and radio frequency (RF) and microwave products, crashworthy and ballistically self-sealing auxiliary fuel systems, high performance communications and electronic intercept receivers and tuners, high performance active antenna systems and airborne antennas, technical surveillance countermeasures (TSCM) equipment, custom high power filters and filter assemblies,
radiation assurance services and products, and high-reliability, complex, passive electronic components and rotary joint assemblies.
(5)    Includes various component parts such as electromagnetic and radio frequency interference shielding, high voltage interconnection devices, high voltage advanced power electronics, harsh environment connectivity products, custom molded cable assemblies, silicone material for a variety of demanding applications, and rugged small form-factor embedded computing solutions, and high performance test sockets and adaptors.

    The following table summarizes the Company’s net sales by industry for each operating segment (in thousands):
Six months ended April 30,Three months ended April 30,
2023202220232022
Flight Support Group:
Aerospace$523,893 $417,724 $269,353 $215,319 
Defense and Space 196,909 136,258 101,267 77,603 
Other (1)
42,678 25,012 21,582 13,391 
Total net sales763,480 578,994 392,202 306,313 
Electronic Technologies Group:
Defense and Space 260,571 265,861 138,609 134,414 
Other (2)
215,794 156,135 118,024 82,772 
Aerospace 80,453 37,733 45,126 20,207 
Total net sales556,818 459,729 301,759 237,393 
Intersegment sales (11,542)(9,567)(6,120)(4,893)
Total consolidated net sales$1,308,756 $1,029,156 $687,841 $538,813 

(1)    Principally industrial products.
(2)    Principally other electronics and medical products.