XML 23 R11.htm IDEA: XBRL DOCUMENT
v3.21.1

Divestiture | 6 Months Ended
--- | ---
Apr. 30, 2021
Discontinued Operations and Disposal Groups [Abstract] |
Divestiture | Divestiture In the fourth quarter of 2020, we committed to a plan to sell our screws and barrels product line within our Industrial Precision Solutions operating segment and determined the criteria to be classified as held for sale were met. We entered into a letter of intent to sell the screws and barrels product line in October 2020 and in December 2020, entered into a definitive agreement with the buyer. The assets and liabilities were presented as held for sale in the Condensed Consolidated Balance Sheets and measured at the lower of carrying value or fair value less cost to sell from October 31, 2020 until the transaction was completed on February 1, 2021. Before measuring the fair value less costs to sell of the disposal group as a whole, we first reviewed individual assets and liabilities to determine if any fair value adjustments were required and concluded no individual asset impairments were required. Then, based on the definitive agreement entered into by us and the buyer, we determined the fair value of the disposal group to be equal to the selling price, less costs to sell. Based on this review, we recorded a non-cash, assets held for sale impairment charge of $87,371 in 2020. The assets and liabilities of the screws and barrels product line classified as held for sale at October 31, 2020 were as follows:
|  |  | October 31, 2020 |  |
Receivables - net |  |  | $ | 14,327 |  |  |
Inventories - net |  |  | 9,854 |  |  |
Prepaid expenses and other current assets |  |  | 696 |  |  |
Property, plant and equipment - net |  |  | 58,950 |  |  |
Other assets |  |  | 23,159 |  |  |
Impairment on carrying value |  |  | (87,371) |  |  |
Assets held for sale |  |  | $ | 19,615 |  |  |
Accounts payable |  |  | $ | 4,625 |  |  |
Accrued liabilities |  |  | 3,352 |  |  |
Other liabilities |  |  | 5,171 |  |  |
Liabilities held for sale |  |  | $ | 13,148 |  |  |
Excluding the non-cash, assets held for sale impairment charge recorded in the fourth quarter of 2020, the operating results of the screws and barrels product line were not material to our Consolidated Financial Statements for any period presented. There were no significant adjustments to the loss recognized in 2020.

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

X
- Definition The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://asc.fasb.org/topic&trid=2155823 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=2122178 + Details
Name: | us-gaap_DisposalGroupsIncludingDiscontinuedOperationsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration