XML 47 R23.htm IDEA: XBRL DOCUMENT
v3.10.0.1

RELATED PARTY TRANSACTIONS | 12 Months Ended
--- | ---
Oct. 31, 2018
RELATED PARTY TRANSACTIONS [Abstract] |
RELATED PARTY TRANSACTIONS | NOTE 16 - RELATED PARTY TRANSACTIONS On January 20, 2018, Photronics, Inc. entered into a four-year consulting agreement with DEMA Associates, LLC, for $0.4 million per year. Two members of our board of directors, including the chairman, and a member of the chairman's immediate family, are members of DEMA Associates, LLC. In FY 2018, we incurred expenses for services provided by this entity of $0.3 million. Our chairman of the board of directors was also a director of an entity that provided secure managed information technology services to Photronics in fiscal year 2016. Another member of our board of directors was the chief executive officer and chairman of the board of this entity. We had contracted with this entity since 2002 for services it provided to all of our facilities. In fiscal year 2016, we incurred expenses for services provided by this entity of $0.2 million. As of January 30, 2018, no members of our board of directors were executive officers, directors or shareholders of this entity. In July 2016, we entered into a contract for information technology services with a parent entity for which members of our board of directors served as the executive chairman of the board and a director of a wholly owned subsidiary of that entity. In fiscal year 2018, we incurred expenses for services provided by the parent entity of $0.1 million during the period in which our board members served on the board of directors of this entity and, in 2017 and 2016, we incurred expenses of $0.5 million and $0.3 million, respectively with the parent entity. As of October 29, 2017, we had payables outstanding to the parent entity of $0.1 million . As of January 30, 2018, no members of our board of directors were executive officers, directors or shareholders of the wholly owned subsidiary. An officer of one of our foreign subsidiaries is related to an individual in a position of authority at one of our largest customers. We recorded revenue from this customer of $78.4 million, $73.6 million and $80.5 million, in fiscal years 2018, 2017 and 2016, respectively. At October 31, 2018 and October 29, 2017, we had accounts receivable of $23.5 million and $24.3 million, respectively, from this customer. We purchase photomask blanks from an entity of which a former officer of ours is a significant shareholder. The Company purchased $4.5 million of photomask blanks from this entity during the period in 2017 when the former officer was employed by us, and $16.3 million in fiscal year 2016. This former officer's employment with the Company ended in February 2017. We believe that the terms of our transactions with the related parties described above were negotiated at arm's length and were no less favorable to us than terms we could have obtained from unrelated third parties. See Note 19 for additional related party transactions.

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

X
- Definition The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -URI http://asc.fasb.org/topic&trid=2122745 + Details
Name: | us-gaap_RelatedPartyTransactionsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration