XML 22 R11.htm IDEA: XBRL DOCUMENT v3.24.1.1.u2
Receivables
6 Months Ended
Apr. 30, 2024
Credit Loss [Abstract]  
Receivables
Receivables
Our allowance for credit losses is principally determined based on aging of receivables. Receivables are exposed to credit risk based on the customers' ability to pay which is influenced by, among other factors, their financial liquidity. We perform ongoing customer credit evaluation to maintain sufficient allowances for potential credit losses. Our segments perform credit evaluation and monitoring to estimate and manage credit risk through the review of customer information, credit ratings, approval and monitoring of customer credit limits, and assessment of market conditions. We may also require prepayments or bank guarantees from customers to mitigate credit risk. Our receivables are generally short-term in nature with a majority of receivables outstanding less than 90 days. Accounts receivable balances are written-off against the allowance if deemed uncollectible.
Accounts receivable are net of an allowance for credit losses of $10,327 and $10,015 on April 30, 2024 and October 31, 2023, respectively. The provision for losses on receivables was $398 and $478 for the three and six months ended April 30, 2024, respectively, compared to provision income related to allowance for credit losses of $997 and $649 for the same periods a year
ago, respectively.