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REVENUE (Tables) | 9 Months Ended
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Jul. 28, 2019
REVENUE [Abstract] |
Impacts of Adoption of Condensed Consolidated Balance Sheet, Condensed Consolidated Statements of Income and Cash Flows | The following tables present the impacts of our adoption of Topic 606 on our July 28, 2019, condensed consolidated balance sheet, and condensed consolidated statements of income for the three and nine months ended July 28, 2019, and cash flows for the nine-months ended July 28, 2019. Condensed Consolidated Balance Sheet July 28, 2019
|  | As Reported |  |  | Adjustments |  |  | Balance without Adoption of Topic 606 |
Assets |  |  |  |  |  |  |  |  |
Accounts receivable |  | $ | 134,369 |  |  | $ | (363 | ) |  | $ | 134,006 |
Inventory |  |  | 39,982 |  |  |  | 4,744 |  |  |  | 44,726 |
Other current assets |  |  | 38,434 |  |  |  | (6,209 | ) |  |  | 32,225 |
Deferred income taxes |  |  | 17,498 |  |  |  | 103 |  |  |  | 17,601 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |
Accrued liabilities |  | $ | 65,236 |  |  | $ | 743 |  |  | $ | 65,979 |
Deferred income taxes |  |  | 518 |  |  |  | (326 | ) |  |  | 192 |
Equity |  |  |  |  |  |  |  |  |  |  |  |
Photronics, Inc. shareholders’ equity |  | $ | 763,394 |  |  | $ | (1,728 | ) |  | $ | 761,666 |
Noncontrolling interests |  |  | 136,944 |  |  |  | (414 | ) |  |  | 136,530 |
Condensed Consolidated Statement of Income Three Months Ended July 28, 2019
|  | As Reported |  |  | Adjustments |  |  | Balance without Adoption of Topic 606 |
Revenue |  | $ | 138,112 |  |  | $ | 340 |  |  | $ | 138,452 |
Cost of goods sold |  |  | 107,542 |  |  |  | 87 |  |  |  | 107,629 |
Gross profit |  |  | 30,570 |  |  |  | 253 |  |  |  | 30,823 |
Provision for taxes |  |  | 3,218 |  |  |  | (15 | ) |  |  | 3,203 |
Net income |  |  | 9,834 |  |  |  | 238 |  |  |  | 10,072 |
Noncontrolling interests |  |  | 3,487 |  |  |  | 53 |  |  |  | 3,540 |
Income attributable to Photronics, Inc. shareholders |  | $ | 6,347 |  |  | $ | 185 |  |  | $ | 6,532 |
Condensed Consolidated Statement of Income Nine Months Ended July 28, 2019
|  | As Reported |  |  | Adjustments |  |  | Balance without Adoption of Topic 606 |
Revenue |  | $ | 394,404 |  |  | $ | (2,180 | ) |  | $ | 392,224 |
Cost of goods sold |  |  | 311,721 |  |  |  | (987 | ) |  |  | 310,734 |
Gross profit |  |  | 82,683 |  |  |  | (1,193 | ) |  |  | 81,490 |
Provision for taxes |  |  | 7,883 |  |  |  | (149 | ) |  |  | 7,734 |
Net income |  |  | 27,454 |  |  |  | (1,044 | ) |  |  | 26,410 |
Noncontrolling interests |  |  | 7,361 |  |  |  | (300 | ) |  |  | 7,061 |
Income attributable to Photronics, Inc. shareholders |  | $ | 20,093 |  |  | $ | (744 | ) |  | $ | 19,349 |
Condensed Consolidated Statement of Cash Flows Nine Months Ended July 28, 2019
|  | As Reported |  |  | Adjustments |  |  | Balance without Adoption of Topic 606 |
Net Income |  | $ | 27,454 |  |  | $ | (1,044 | ) |  | $ | 26,410 |
Changes in operating accounts: |  |  |  |  |  |  |  |  |  |  |  |
Accounts receivable |  | $ | (14,185 | ) |  | $ | (223 | ) |  | $ | (14,408 | )
Inventories |  |  | (15,083 | ) |  |  | (1,268 | ) |  |  | (16,351 | )
Other current assets |  |  | (9,406 | ) |  |  | 1,926 |  |  |  | (7,480 | )
Accounts payable, accrued liabilities, and other |  |  | (25,663 | ) |  |  | 609 |  |  |  | (25,054 | )
Disaggregation of Revenue | The following tables present our revenue for the three and nine-month periods ended July 28, 2019, disaggregated by product type, geographic location, and timing of recognition.
Revenue by Product Type |  | Three Months Ended July 28, 2019 |  |  | Nine Months Ended July 28, 2019 |
IC |  |  |  |  |  |
High-end |  | $ | 38,460 |  |  | $ | 111,455 |
Mainstream |  |  | 61,725 |  |  |  | 182,197 |
Total IC |  | $ | 100,185 |  |  | $ | 293,652 |
FPD |  |  |  |  |  |  |  |
High-end |  | $ | 25,939 |  |  | $ | 70,361 |
Mainstream |  |  | 11,988 |  |  |  | 30,391 |
Total FPD |  | $ | 37,927 |  |  | $ | 100,752 |
|  | $ | 138,112 |  |  | $ | 394,404 |
Revenue by Geographic Location |  |  |  |  |
Taiwan |  | $ | 61,273 |  |  | $ | 175,482 |
Korea |  |  | 37,120 |  |  |  | 110,395 |
United States |  |  | 25,364 |  |  |  | 74,579 |
Europe |  |  | 7,937 |  |  |  | 24,725 |
China |  |  | 5,963 |  |  |  | 7,693 |
Other |  |  | 455 |  |  |  | 1,530 |
|  | $ | 138,112 |  |  | $ | 394,404 |
Revenue by Timing of Recognition |  |  |  |  |
Over time |  | $ | 122,938 |  |  | $ | 362,078 |
At a point in time |  |  | 15,174 |  |  |  | 32,326 |
|  | $ | 138,112 |  |  | $ | 394,404 |

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