XML 39 R22.htm IDEA: XBRL DOCUMENT
v3.24.4

Leases | 12 Months Ended
--- | ---
Oct. 31, 2024
Leases |
Leases | 15. Leases ​ We lease property and equipment under finance and operating leases. For leases with terms greater than 12 months, we record the related asset and obligation at the present value of lease payments over the term. Many of our leases include rental escalation clauses, renewal options and/or termination options that are factored into our determination of lease payments when appropriate. ​ We also lease certain property, plant and equipment, including office facilities, under operating leases. The lease term consists of the noncancellable period of the lease and the periods covered by options to extend or terminate the lease when it is reasonably certain that the Company will exercise such options. The Company's lease agreements do not contain any residual value guarantees. ​ Lease Position ​ The following table presents the lease-related assets and liabilities recorded on the balance sheet as of October 31, 2024 and 2023 (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | October 31, |  | October 31,
​ | ​ | ​ | 2024 |  | 2023
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Assets |  |  | ​ |  | ​ | ​ |
Non-current assets: |  |  | ​ |  | ​ | ​ |
Operating lease assets | Operating lease right-of-use assets | ​ | $ | 18,316 | ​ | $ | 18,357
Finance lease assets | Property, plant and equipment, net | ​ |  | 4,609 | ​ |  | 5,051
​ | ​ | ​ | $ | 22,925 | ​ | $ | 23,408
Liabilities |  | ​ |  |  | ​ |  |
Current liabilities: |  | ​ |  |  | ​ |  |
Operating | Current portion of operating leases | ​ | $ | 3,296 | ​ | $ | 3,663
Finance | Current portion of long-term obligations and finance leases | ​ |  | 874 | ​ |  | 831
Long-term obligations |  | ​ |  |  | ​ |  |
Operating | Long-term operating leases, less current portion | ​ |  | 17,476 | ​ |  | 17,328
Finance | Long-term obligations and finance leases, less current portion | ​ |  | 4,274 | ​ |  | 4,645
​ | ​ | ​ | $ | 25,920 | ​ | $ | 26,467
​
​ | ​ | ​ | ​ | ​ | ​ | ​
Weighted-average remaining lease term: |  | Fiscal 2024 | ​ | Fiscal 2023
Operating leases |  | 6.5 years | ​ | ​ | 6.6 years | ​
Finance leases |  | 7.0 years | ​ | ​ | 7.6 years | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
Weighted-average discount rate: |  |  | ​ | ​ |  | ​
Operating leases |  | 2.49 | % | ​ | 2.96 | %
Finance leases |  | 4.89 | % | ​ | 4.63 | %
​ Lease Costs ​ The following table presents certain information related to the lease costs for finance and operating leases for the years ended October 31, 2024 and 2023 (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Year ended | ​ | Year ended
​ |  | October 31, 2024 | ​ | October 31, 2023
Amortization of financing lease assets (recorded in cost of sales) |  | $ | 994 | ​ | $ | 812
Operating lease cost | ​ | ​ | 4,202 | ​ | ​ | 4,136
Short-term lease cost | ​ | ​ | 952 | ​ | ​ | 672
Variable lease cost | ​ | ​ | 62 | ​ | ​ | 61
Interest on financing lease liabilities | ​ | ​ | 255 | ​ | ​ | 179
Total lease cost | ​ | $ | 6,465 | ​ | $ | 5,860
​ Other Information ​ The following table presents supplemental cash flow information related to the leases for the years ended October 31, 2024 and 2023 (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Year ended | ​ | Year ended
Cash paid for amounts included in the measurement of lease liabilities |  | October 31, 2024 | ​ | October 31, 2023
Operating cash flows for operating leases |  | $ | 3,878 | ​ | $ | 3,732
Financing cash flows for finance leases | ​ | ​ | 882 | ​ | ​ | 702
Operating cash flows for finance leases | ​ | ​ | 255 | ​ | ​ | 167
​ The total right-of-use assets obtained in exchange for new operating leases for the years ended October 31, 2024 and 2023 were $3.7 million and $0.2 million, respectively. ​ Undiscounted Cash Flows ​ The following table reconciles the undiscounted cash flows for each of the first five years and total remaining years to the finance lease liabilities and operating lease liabilities recorded on the balance sheet as of October 31, 2024 (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Operating |  | Finance
Year | Leases |  | Leases
2025 |  | $ | 3,741 |  | $ | 1,101
2026 | ​ | ​ | 3,524 | ​ | ​ | 922
2027 | ​ | ​ | 3,467 | ​ | ​ | 827
2028 | ​ | ​ | 3,377 | ​ | ​ | 758
2029 | ​ | ​ | 3,139 | ​ | ​ | 584
Thereafter | ​ | ​ | 5,055 | ​ | ​ | 1,864
Total lease payments | ​ | ​ | 22,303 | ​ | ​ | 6,056
Less: imputed interest | ​ | ​ | 1,531 | ​ | ​ | 908
Total lease liability |  | $ | 20,772 |  | $ | 5,148
​

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

X
- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
Name: | us-gaap_LesseeOperatingLeasesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration