XML 66 R22.htm IDEA: XBRL DOCUMENT
v2.4.0.6

Note 15 - Stock Plans | 12 Months Ended
--- | ---
Oct. 31, 2012
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | 15. Stock Plans We have a stock option plan for certain officers and key employees. Options are granted by a committee appointed by the Board of Directors or its delegee in accordance with the stock option plan. The exercise price of all stock options must be at least equal to the fair market value of the underlying shares on the date of the grant. Options granted before June 8, 2007 generally vest in four equal installments on the third, fourth, fifth and sixth anniversaries of the date of the grant. Options granted on or after June 8, 2007 generally vest in four equal installments on the second, third, fourth and fifth anniversaries of the date of the grant. All options expire 10 years after the date of the grant. During the year ended October 31, 2012, each of the five non-employee directors of the Company were given the choice to receive stock options or a reduced number of shares of restricted stock. Those that selected options were granted options to purchase between 42,130 and 61,573 shares. Non-employee directors’ options vest in three equal installments on the first, second and third anniversaries of the date of the grant. Stock option transactions are summarized as follows:
|  | October 31,2012 |  |  | Weighted-Average Exercise Price |  |  | October 31,2011 |  |  | Weighted-Average Exercise Price |  |  | October 31,2010 |  |  | Weighted-Average Exercise Price |
Options outstanding at beginning of period |  | 5,094,367 |  |  | $ | 7.05 |  |  | 6,316,860 |  |  | $ | 8.72 |  |  | 5,774,767 |  |  | $ | 9.42 |
Granted |  | 1,334,828 |  |  | $ | 2.59 |  |  | 674,100 |  |  | $ | 1.93 |  |  | 1,132,750 |  |  | $ | 4.73 |
Exercised |  | 6,250 |  |  |  | 2.55 |  |  |  |  |  |  |  |  |  | 348,000 |  |  | $ | 2.86 |
Forfeited |  | 94,808 |  |  | $ | 4.77 |  |  | 238,499 |  |  | $ | 7.33 |  |  | 242,657 |  |  | $ | 15.33 |
Cancellations |  |  |  |  |  |  |  |  | 1,200,000 |  |  | $ | 11.19 |  |  |  |  |  |  |  |
Expired |  | 309,067 |  |  | $ | 9.61 |  |  | 458,094 |  |  | $ | 11.57 |  |  |  |  |  |  |  |
Options outstanding at end of period |  | 6,019,070 |  |  | $ | 5.97 |  |  | 5,094,367 |  |  | $ | 7.05 |  |  | 6,316,860 |  |  | $ | 8.72 |
Options exercisable at end of period |  | 2,467,170 |  |  |  |  |  |  | 1,764,338 |  |  |  |  |  |  | 2,519,600 |  |  |  |  |
The total intrinsic value of options exercised during fiscal 2012 and 2010 was $8 thousand and $0.5 million, respectively. The intrinsic value of a stock option is the amount by which the market value of the underlying stock exceeds the exercise price of the option. There were no options exercised in fiscal 2011. At October 31, 2012, 0.9 million options outstanding and exercisable had an intrinsic value of $1.6 million. Exercise prices for options outstanding at October 31, 2012 ranged from $1.93 to $60.36. The weighted-average fair value of grants made in fiscal 2012, 2011, and 2010 was $1.74, $1.57, and $3.77 per share, respectively. Based on the fair value at the time they were granted, the weighted-average fair value of options vested in fiscal 2012, 2011, and 2010 was $3.61, $3.92, and $8.58 per share, respectively. The following table summarizes the exercise price range and related number of options outstanding at October 31, 2012:
Range of Exercise Prices | Number Outstanding |  | Weighted-Average Exercise Price |  | Weighted- Average Remaining Contractual Life |
$1.93 | – | $5.00 | 4,531,491 |  | $ | 2.95 |  | 8.06 |
$5.01 | – | $10.00 | 831,000 |  | $ | 6.46 |  | 5.67 |
$10.01 | – | $20.00 | 141,704 |  | $ | 16.97 |  | 0.24 |
$20.01 | – | $30.00 | 265,000 |  | $ | 21.77 |  | 4.57 |
$30.01 | – | $40.00 | 204,875 |  | $ | 32.53 |  | 2.77 |
$40.01 | – | $50.00 | 10,000 |  | $ | 41.45 |  | 1.25 |
$50.01 | – | $60.00 | 30,000 |  | $ | 54.70 |  | 2.42 |
$60.01 | – | $70.00 | 5,000 |  | $ | 60.36 |  | 2.67 |
| 6,019,070 |  | $ | 5.97 |  | 7.17 |
The following table summarizes the exercise price range and related number of exercisable options at October 31, 2012:
Range of Exercise Prices | Number Exercisable |  | Weighted-Average Exercise Price |  | Weighted- Average Remaining Contractual Life |
$1.93 | – | $5.00 | 1,176,588 |  | $ | 3.09 |  | 6.99 |
$5.01 | – | $10.00 | 634,003 |  | $ | 6.46 |  | 5.67 |
$10.01 | – | $20.00 | 141,704 |  | $ | 16.97 |  | 0.24 |
$20.01 | – | $30.00 | 265,000 |  | $ | 21.77 |  | 4.57 |
$30.01 | – | $40.00 | 204,875 |  | $ | 32.53 |  | 2.77 |
$40.01 | – | $50.00 | 10,000 |  | $ | 41.45 |  | 1.25 |
$50.01 | – | $60.00 | 30,000 |  | $ | 54.70 |  | 2.42 |
$60.01 | – | $70.00 | 5,000 |  | $ | 60.36 |  | 2.67 |
| 2,467,170 |  | $ | 10.10 |  | 5.56 |
Officers and key employees that are granted stock options may elect to receive either the amount of stock options granted, or a reduced number of shares of restricted stock, or a combination thereof. Shares of restricted stock vest 25% each year beginning on the 2nd anniversary of the grant date. Participants age 60 years or older, or age 58 with 15 years of service vest after one year. During the years ended October 31, 2012 and 2011, we granted 133,855 (including 104,167 shares to certain of our non-employee directors) and 44,468 shares of restricted stock, respectively, and also issued 32,112 and 20,613 shares, relating to awards granted in prior fiscal years, respectively. During the years ended October 31, 2012 and 2011, 9,845 and 16,744 shares of restricted stock were forfeited, respectively. For certain associates in certain years, a portion of their bonus is paid by issuing a deferred right to receive our common stock. The number of shares is calculated for each bonus year by dividing the portion of the bonus subject to the deferred right award by our average stock price for the year or the stock price at year-end, whichever is lower. Twenty-five percent of the deferred right award will vest and shares will be issued one year after the year end and then 25% a year for the next three years. Participants with 20 years of service or over 58 years of age vest immediately. During the years ended October 31, 2012 and 2011, we issued 258,228 and 355,403 shares relating to awards granted in prior fiscal years. During the years ended October 31, 2012 and 2011, 8,701 and 45,818 shares were forfeited, respectively. For the years ended October 31, 2012, 2011 and 2010, no rights in lieu of bonus payments were awarded. For the years ended October 31, 2012, 2011 and 2010 total compensation cost recognized in the Consolidated Statement of Operations for the annual restricted stock grants, the deferred compensation awards and the stock portion of the long term incentive plan was $2.4 million, $1.7 million and $3.7 million, respectively. In addition to nonvested share awards summarized in the following table, there were 534,143, 692,668 and 1,100,250 shares of vested restricted stock at October 31, 2012, 2011 and 2010, respectively, which were deferred at the associates' election. A summary of the Company’s nonvested share awards as of and for the year ended October 31, 2012, is as follows:
|  | Shares |  |  | Weighted-Average Grant Date Fair Value |
Nonvested at beginning of period |  |  | 1,810,177 |  |  | $ | 4.99 |
Granted |  |  | 557,693 |  |  | $ | 4.11 |
Vested |  |  | (221,319 | ) |  | $ | 7.45 |
Forfeited |  |  | (18,546 | ) |  | $ | 5.82 |
Nonvested at end of period |  |  | 2,128,005 |  |  | $ | 4.49 |
Included in the above table are restricted stock awards for a long term incentive plan for certain associates, which is a performance based plan. The awards included above for this plan are based on our current best estimate of the outcome for the performance criteria. The change in this estimate resulted in an increase of 0.4 million shares, which is reflected in the granted row on the above table. As of October 31, 2012, we had 3.6 million shares authorized for future issuance under our equity compensation plans. In addition, as of October 31, 2012, there were $13.1 million of total unrecognized compensation costs related to nonvested share based compensation arrangements. That cost is expected to be recognized over a weighted-average period of 2.1 years. During fiscal 2011, the Chief Executive Officer and Chief Financial Officer consented to a cancellation of certain of their options (with the full understanding that the Company made no commitment to provide them with any other form of consideration in respect of the cancelled options) in order to reduce a portion of the equity reserve “overhang” under the Company’s equity compensation plans represented by the number of shares of the Company’s common stock remaining available for future issuance under such plans (including shares that may be issued upon the exercise or vesting of outstanding options and other rights). No compensation expense was recorded related to the cancellation of stock options in fiscal 2011, as the options canceled were fully vested and expensed prior to fiscal 2011.

X
- Definition The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 14 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6406099&loc=d3e25284-112666 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Statement of Position (SOP) -Number 93-6 -Paragraph 53 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 40 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6418621&loc=d3e17540-113929 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 123R -Paragraph 64, 65, A240 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5444-113901 + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration