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INVESTMENTS | 6 Months Ended
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Apr. 28, 2024
INVESTMENTS [Abstract] |
INVESTMENTS | NOTE 3 - INVESTMENTS The Company invests in various bank time deposits and U.S. Government Securities. Our classification of investments is as follows:
- | Maturing within three months or less from the date of purchase | Cash and cash equivalents
- | Maturing, as of the date of purchase, more than three months, but with remaining maturities of less than one year, from the balance sheet date | Short-term investments
- | Maturing one year or more from the balance sheet date | Long-term marketable investments
As of April 28, 2024, all of our investments had, at their dates of purchase, remaining maturities of more than three months, but less than one year, and have been classified as short-term investments. The accounting framework for determining fair value includes a hierarchy for ranking the quality and reliability of the information used to measure fair value, which enables the reader of the financial statements to assess the inputs used to develop those measurements. The fair value hierarchy consists of three tiers as follows: Level 1 - These are investments where values are based on unadjusted quoted prices for identical assets in an active market the Company has the ability to access. Level 2 - These are investments where values are based on quoted market prices that are not active or model derived valuations in which all significant inputs are observable in active markets. Level 3 - These are investments where values are derived from techniques in which one or more significant inputs are unobservable. The following are the major categories of assets measured at fair value on a recurring basis using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2) and significant unobservable inputs (Level 3):
|  | April 28, 2024 |  |  | October 31, 2023 |
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
U.S. Government Securities |  | $ | 6,585 |  |  | $ | - |  |  | $ | - |  |  | $ | 6,585 |  |  | $ | 12,915 |  |  | $ | - |  |  | $ | - |  |  | $ | 12,915 |
Time deposits |  | $ | - |  |  | $ | 59,370 |  |  | $ | - |  |  | $ | 59,370 |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |
Based upon the Company’s intent and ability to hold its time deposits to maturity (which maturities range up to twelve months at purchase), such securities have been classified as held-to-maturity and are carried at amortized cost, which approximates market value. The Company’s U.S. Government Securities are classified as available-for-sale. Available-for-sale investments are reported at fair value, with unrealized gains or losses (net of tax) reported in Accumulated other comprehensive income. In the event of a sale of these securities, we would determine the cost of the investment sold at the specific individual security level and would include any gain or loss in Interest income and other income, net, where we also report periodic interest earned and the amortization (accretion) of discounts (premiums) related to these investments. The table below provides information on our available-for-sale debt securities and time deposits classified as short-term investments.
|  | April 28, 2024 |  |  | October 31, 2023 |
|  | Amortized Cost |  |  | Unrealized Gains |  |  | Unrealized Losses |  |  | Carrying Value |  |  | Amortized Cost |  |  | Unrealized Gains |  |  | Unrealized Losses |  |  | Carrying Value |
U.S. Government Securities |  | $ | 6,580 |  |  | $ | 6 |  |  | $ | (1 | ) |  | $ | 6,585 |  |  | $ | 12,913 |  |  | $ | 4 |  |  | $ | (2 | ) |  | $ | 12,915 |
Time deposits |  | $ | 59,370 |  |  | $ | - |  |  | $ | - |  |  | $ | 59,370 |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |
Total |  | $ | 65,950 |  |  | $ | 6 |  |  | $ | (1 | ) |  | $ | 65,955 |  |  | $ | 12,913 |  |  | $ | 4 |  |  | $ | (2 | ) |  | $ | 12,915 |
The Company’s investments in marketable securities consist primarily of investments in various time deposits and U.S. Government Securities. Market values were determined for each individual security in the investment portfolio. When evaluating the investments for other-than-temporary impairment, the Company reviews factors such as length of time and extent to which fair value has been below cost basis, the financial condition of the issuer, and the Company’s ability and intent to hold the investment for a period of time, which may be sufficient for anticipated recovery in market values.

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- Definition The entire disclosure for investment. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//320/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Topic 321 -Publisher FASB -URI https://asc.fasb.org//321/tableOfContent Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Topic 325 -Publisher FASB -URI https://asc.fasb.org//325/tableOfContent + Details
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