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COMMITMENTS AND CONTINGENCIES | 3 Months Ended
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Jan. 31, 2024
Commitments and Contingencies Disclosure [Abstract] |
Commitments and Contingencies Disclosure [Text Block] | COMMITMENTS AND CONTINGENCIES Guarantees As of January 31, 2024, the Company has arranged for standby letters of credit aggregating $10.8 million, which are supported by its revolving credit facility and principally pertain to performance guarantees related to customer contracts entered into by certain of the Company's subsidiaries as well as payment guarantees related to potential workers' compensation claims. Product Warranty Changes in the Company’s product warranty liability for the three months ended January 31, 2024 and 2023 are as follows (in thousands):
|  | Three months ended January 31,
|  | 2024 |  | 2023
Balances as of beginning of fiscal year |  | $3,847 |  |  | $3,296 |
Accruals for warranties |  | 790 |  |  | 775 |
Warranty claims settled |  | (834) |  |  | (591) |
Balances as of January 31 |  | $3,803 |  |  | $3,480 |
Litigation On April 20, 2021, an indirect subsidiary of HFSC, which was acquired in June 2020, received a grand jury subpoena from the United States District Court for the Southern District of California requiring the production of documents for the pre-acquisition time period of December 1, 2017 through February 4, 2019 related to the subsidiary's employment of a certain individual and its performance of work on certain Navy vessels during that time period. In connection with this investigation, the individual pled guilty to a charge of a misdemeanor conflict of interest, and has been suspended by the Company pending determination by the Navy whether the suspended employee should be debarred from government contracting. The Company is cooperating with the investigation, and is cooperating with the Navy. The Company has completed its production of documents responsive to the subpoena, although the Company has a continuing obligation to produce such documents should any be located. The Company cannot predict the outcome of the investigation or when the investigation will ultimately be resolved; nor can the Company reasonably estimate the possible range of loss or impact to its business, if any, that may result from this matter. With the exception of the matter noted above, the Company is involved in various legal actions arising in the normal course of business. Based upon the Company’s and its legal counsel’s evaluations of any claims or assessments, management is of the opinion that the outcome of these matters will not have a material adverse effect on the Company’s results of operations, financial position or cash flows.

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