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Derivative Instruments and Hedging Activities (Tables)

12 Months Ended

Oct. 31, 2021

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of fair value of derivatives and consolidated balance sheet location

The following table presents the fair value and location of the company’s derivative instruments on the Consolidated Balance Sheets (in thousands):

Fair Value as of October 31						2021						2020
Derivative assets:
Derivatives designated as cash flow hedging instruments:
Prepaid expenses and other current assets
Forward currency contracts						$	189					$	802
Derivatives not designated as cash flow hedging instruments:
Prepaid expenses and other current assets
Forward currency contracts						133						131
Total derivative assets						$	322					$	933
Derivative liabilities:
Derivatives designated as cash flow hedging instruments:
Accrued liabilities
Forward currency contracts						$	1,260					$	2,687
Derivatives not designated as cash flow hedging instruments:
Accrued liabilities
Forward currency contracts						872						(203)
Total derivative liabilities						$	2,132					$	2,484

Schedule of effects of the master netting arrangements on the fair value of the company's derivative contracts that are recorded in the Consolidated Balance Sheets

The following table presents the effects of the master netting arrangements on the fair value of the company’s derivative instruments that are recorded on the Consolidated Balance Sheets (in thousands):

Fair Value as of October 31						2021						2020
Derivative assets:
Forward currency contracts:
Gross amount of derivative assets						$	423					$	1,139
Derivative liabilities offsetting derivative assets						(101)						(206)
Net amount of derivative assets						$	322					$	933
Derivative liabilities:
Forward currency contracts:
Gross amount of derivative liabilities						$	(4,853)					$	(3,233)
Derivative assets offsetting derivative liabilities						2,721						749
Net amount of derivative liabilities						$	(2,132)					$	(2,484)

Schedule of impact of derivative instruments on consolidated statements of earnings for derivatives designated as cash flow hedging instruments

The following table presents the impact and location of the amounts reclassified from AOCL into net earnings on the Consolidated Statements of Earnings and the impact of derivative instruments on the Consolidated Statements of Comprehensive Income for the company's derivatives designated as cash flow hedging instruments (in thousands):

						Gain (Loss) Reclassified from AOCL into Income												Gain (Loss) Recognized in OCI on Derivatives
Fiscal Years Ended October 31						2021						2020						2021						2020
Derivatives designated as cash flow hedging instruments:
Forward currency contracts:
Net sales						$	(10,883)					$	5,023					$	2,820					$	(8,232)
Cost of sales						139						651						(734)						(253)
Total derivatives designated as cash flow hedging instruments						$	(10,744)					$	5,674					$	2,086					$	(8,485)

The following tables present the impact and location of derivative instruments on the Consolidated Statements of Earnings for the company’s derivatives designated as cash flow hedging instruments and the related components excluded from hedge effectiveness testing (in thousands):

						Gain (Loss) Recognized in Earnings on Cash Flow Hedging Instruments
Fiscal Year Ended October 31, 2021						Net Sales						Cost of Sales
Total Consolidated Statements of Earnings income (expense) amounts in which the effects of cash flow hedging instruments are recorded						$	3,959,584					$	(2,621,092)
Gain (loss) on derivatives designated as cash flow hedging instruments:
Forward currency contracts:
Amount of gain (loss) reclassified from AOCL into earnings						(10,883)						139
Gain on components excluded from effectiveness testing recognized in earnings based on changes in fair value						$	1,427					$	614

						Gain (Loss) Recognized in Earnings on Cash Flow Hedging Instruments
Fiscal Year Ended October 31, 2020						Net Sales						Cost of Sales
Total Consolidated Statements of Earnings income (expense) amounts in which the effects of cash flow hedging instruments are recorded						$	3,378,810					$	(2,189,036)
Gain on derivatives designated as cash flow hedging instruments:
Forward currency contracts:
Amount of gain reclassified from AOCL into earnings						5,023						651
Gain on components excluded from effectiveness testing recognized in earnings based on changes in fair value						$	3,229					$	313

Derivatives not designated as hedging instruments

The following table presents the impact and location of derivative instruments on the Consolidated Statements of Earnings for the company’s derivatives not designated as cash flow hedging instruments (in thousands):

Fiscal Years Ended October 31						2021						2020
Loss on derivative instruments not designated as cash flow hedging instruments:
Forward currency contracts:
Other income, net						$	(4,566)					$	(5,792)
Total loss on derivatives not designated as cash flow hedging instruments						$	(4,566)					$	(5,792)

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Tabular disclosure of derivative and other financial assets and liabilities that are subject to offsetting, including master netting arrangements.

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- Definition

Tabular disclosure for cash flow hedging instruments of (a) the location and amount of gains and losses reported in the statement of financial performance and (b) the location and fair value amounts of the instruments reported in the statement of financial position.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5624171-113959

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Tabular disclosure of the presentation of foreign exchange contracts on the statement of financial position, including the fair value amounts and location of such amounts.

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
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Tabular disclosure of derivative instrument not designated or qualifying as hedging instrument.

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Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5624171-113959

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4CC
-URI http://asc.fasb.org/extlink&oid=125515794&loc=SL109998890-113959

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