XML 29 R18.htm IDEA: XBRL DOCUMENT
v3.5.0.2

Financial Instruments | 9 Months Ended
--- | ---
Jul. 31, 2016
Investments All Other Investments [Abstract] |
Financial Instruments |
13. | Financial instruments
We operate internationally and enter into intercompany transactions denominated in foreign currencies. Consequently, we are subject to market risk arising from exchange rate movements between the dates foreign currencies are recorded and the dates they are settled. We regularly use foreign currency forward contracts to reduce our risks related to most of these transactions. These contracts usually have maturities of 90 days or less and generally require us to exchange foreign currencies for U.S. dollars at maturity, at rates stated in the contracts. These contracts are not designated as hedging instruments. We do not use financial instruments for trading or speculative purposes. Gains and losses on foreign currency forward contracts are recorded in “Other – net” on the Consolidated Statement of Income together with the transaction gain or loss from the hedged balance sheet position. For the three months ended July 31, 2016, we recognized gains of $1,520 on foreign currency forward contracts and losses of $172 from the change in fair value of balance sheet positions. For the three months ended July 31, 2015, we recognized losses of $2,701 on foreign currency forward contracts and gains of $3,085 from the change in fair value of balance sheet positions. For the nine months ended July 31, 2016, we recognized gains of $2,382 on foreign currency forward contracts and losses of $506 from the change in fair value of balance sheet positions. For the nine months ended July 31, 2015, we recognized losses of $1,198 on foreign currency forward contracts and gains of $1,020 from the change in value of balance sheet positions. The following table summarizes, by currency, the foreign currency forward contracts outstanding at July 31, 2016:
|  | Sell |  |  | Buy |
|  | Notional Amounts |  |  | Fair Market Value |  |  | Notional Amounts |  |  | Fair Market Value |
Euro |  | $ | 171,701 |  |  | $ | 171,084 |  |  | $ | 53,474 |  |  | $ | 53,745 |
British pound |  |  | 39,512 |  |  |  | 39,281 |  |  |  | 38,273 |  |  |  | 36,661 |
Japanese yen |  |  | 27,364 |  |  |  | 28,406 |  |  |  | 15,907 |  |  |  | 16,537 |
Australian dollar |  |  | 709 |  |  |  | 722 |  |  |  | 7,560 |  |  |  | 7,884 |
Hong Kong dollar |  |  | — |  |  |  | — |  |  |  | 76,022 |  |  |  | 76,011 |
Singapore dollar |  |  | 1,186 |  |  |  | 1,219 |  |  |  | 11,870 |  |  |  | 12,181 |
Others |  |  | 3,920 |  |  |  | 3,902 |  |  |  | 29,140 |  |  |  | 29,474 |
Total |  | $ | 244,392 |  |  | $ | 244,614 |  |  | $ | 232,246 |  |  | $ | 232,493 |
The carrying amounts and fair values of financial instruments at July 31, 2016, other than receivables and accounts payable, are shown in the table below. The carrying values of receivables and accounts payable approximate fair value due to the short-term nature of these instruments.
|  | Carrying Amount |  |  | Fair Value |
Cash and cash equivalents |  | $ | 60,294 |  |  | $ | 60,294 |
Notes payable |  |  | 6,909 |  |  |  | 6,909 |
Long-term debt, including current maturities |  |  | 1,037,259 |  |  |  | 1,054,980 |
Foreign currency forward contracts (net) |  |  | 26 |  |  |  | 26 |
We used the following methods and assumptions in estimating the fair value of financial instruments:
| · | Cash, cash equivalents and notes payable are valued at their carrying amounts due to the relatively short period to maturity of the instruments.
| · | Long-term debt is valued by discounting future cash flows at currently available rates for borrowing arrangements with similar terms and conditions, which are considered to be Level 2 inputs under the fair value hierarchy.
| · | Foreign currency forward contracts are valued using observable market based inputs, which are considered to be Level 2 inputs under the fair value hierarchy.

X
- Definition The entire disclosure for financial instruments. This disclosure includes, but is not limited to, fair value measurements of short and long term marketable securities, international currencies forward contracts, and auction rate securities. Financial instruments may include hedging and non-hedging currency exchange instruments, derivatives, securitizations and securities available for sale at fair value. Also included are investment results, realized and unrealized gains and losses as well as impairments and risk management disclosures. + References No definition available. + Details
Name: | us-gaap_FinancialInstrumentsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_InvestmentsAllOtherInvestmentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration