XML 67 R46.htm IDEA: XBRL DOCUMENT
v3.22.4

Retirement Plans (Tables) | 12 Months Ended
--- | ---
Oct. 31, 2022
Retirement Benefits [Abstract] |
Summary of Components of Net Periodic Benefit Cost | The components of net periodic benefit cost for the Plan for fiscal years 2022 and 2021 were as follows (in thousands):
| 2022 |  | 2021
Administrative expenses | $ | 718 |  |  | $ | 277 |
Interest cost | 520 |  |  | 550 |
Expected return on plan assets | (511) |  |  | (867) |
Prior service cost | 45 |  |  | 45 |
Amortization of net loss | 398 |  |  | 737 |
Settlement loss recognized | 607 |  |  | $ | — |
Net periodic benefit cost | $ | 1,777 |  |  | $ | 742 |
Summary of the Plan's Funded Status | Following is a summary of the Plan’s funded status as of October 31 (in thousands):
| 2022 |  | 2021
Change in benefit obligation: |  |  |
Benefit obligation at beginning of year | $ | 21,417 |  |  | $ | 22,898 |
Administrative expenses | 718 |  |  | 277 |
Plan settlements | (3,604) |  |  | — |
Interest cost | 520 |  |  | 550 |
Benefits paid | (1,327) |  |  | (1,210) |
Expenses paid | (643) |  |  | (240) |
Actuarial gain | (2,474) |  |  | (858) |
Benefit obligation at end of year | $ | 14,607 |  |  | $ | 21,417 |
Change in plan assets: |  |  |
Fair value of plan assets at beginning of year | $ | 20,570 |  |  | $ | 19,352 |
Actual return on plan assets | (2,661) |  |  | 2,668 |
Plan settlements | (3,604) |  |  | — |
Benefits paid | (1,327) |  |  | (1,210) |
Expenses paid | (643) |  |  | (240) |
Fair value of plan assets at end of year | $ | 12,335 |  |  | $ | 20,570 |
Reconciliation of funded status: |  |  |
Fair value of plan assets | $ | 12,335 |  |  | $ | 20,570 |
Benefit obligations | 14,607 |  |  | 21,417 |
Net plan obligations | $ | (2,272) |  |  | $ | (847) |
Amounts recognized in statements of financial position: |  |  |
Noncurrent liabilities | $ | (2,272) |  |  | $ | (847) |
Net obligation recognized in statements of financial position | $ | (2,272) |  |  | $ | (847) |
Reconciliation of amounts recognized in statements of financial position: |  |  |
Prior service cost | $ | (54) |  |  | $ | (99) |
Net loss | (2,459) |  |  | (2,766) |
Accumulated other comprehensive loss | (2,513) |  |  | (2,865) |
Accumulated contributions in excess of net periodic benefit cost | 241 |  |  | 2,018 |
Net deficit recognized in statements of financial position | $ | (2,272) |  |  | $ | (847) |
Summary of Changes in Accumulated Other Comprehensive Income in the Plan | Presented below are changes in accumulated other comprehensive income, before tax, in the Plan as of October 31, (in thousands):
| 2022 |  | 2021
Changes recognized in other comprehensive income: |  |  |
Net loss (gain) arising during the year | $ | 697 |  |  | $ | (2,658) |
Amortization of prior service cost | (45) |  |  | (45) |
Amortization of net loss | (1,005) |  |  | (737) |
Total recognized in other comprehensive income | $ | (353) |  |  | $ | (3,440) |
Total recognized in net periodic benefit and other comprehensive loss (income) | $ | 1,424 |  |  | $ | (2,699) |
Summary of Assumptions Used in Determining Benefit Obligations and Net Periodic Benefit Cost | The following assumptions, as of October 31, were used in determining benefit obligations and net periodic benefit cost ($ in thousands):
| 2022 |  | 2021
Weighted-average assumptions used to determine benefit obligations: |  |  |
Discount rate | NA |  | 2.58 | %
Assumptions used to determine net periodic benefit cost: |  |  |
Discount rate | 2.58 | % |  | 2.50 | %
Expected return on plan assets | 2.98 | % |  | 5.05 | %
Additional year-end information: |  |  |
Projected benefit obligation | $ | 14,607 |  |  | $ | 21,417 |
Accumulated benefit obligation | $ | 14,607 |  |  | $ | 21,417 |
Fair value of plan assets | $ | 12,335 |  |  | $ | 20,570 |
Summary of Plan Assets Segregated by Fair Value Hierarchy Level | The following table sets forth the Plan’s assets as of October 31, 2022, segregated by level using the hierarchy established by FASB ASC 820, Fair Value Measurements and Disclosures (in thousands):
| Level 1 |  | Level 2 |  | Level 3 |  | Total
Cash and cash equivalents | $ | 12,302 |  |  | $ | — |  |  | $ | — |  |  | $ | 12,302 |
Accrued income | — |  |  | 33 |  |  | — |  |  | 33 |
| $ | 12,302 |  |  | $ | 33 |  |  | $ | — |  |  | $ | 12,335 |

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

X
- Definition Tabular disclosure of the major categories of plan assets of pension plans and/or other employee benefit plans. This information may include, but is not limited to, the target allocation of plan assets, the fair value of each major category of plan assets, and the level within the fair value hierarchy in which the fair value measurements fall. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (d)(5) -URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfAllocationOfPlanAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assumption used to determine benefit obligation and net periodic benefit cost of defined benefit plan. Includes, but is not limited to, discount rate, rate of compensation increase, expected long-term rate of return on plan assets and interest crediting rate. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (k) -URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfAssumptionsUsedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the changes in plan assets and benefit obligations recognized in other comprehensive income (loss) during the period. + References No definition available. + Details
Name: | us-gaap_ScheduleOfDefinedBenefitPlanAmountsRecognizedInOtherComprehensiveIncomeLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of one or more of the entity's defined benefit pension plans or one or more other defined benefit postretirement plans, separately for pension plans and other postretirement benefit plans including the entity's schedule of fair value of plan assets for defined benefit or other postretirement plans. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 55 -Paragraph 17 -URI https://asc.fasb.org/extlink&oid=123450688&loc=d3e4179-114921 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 4 -URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e2439-114920 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e2410-114920 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 3 -URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e2417-114920 + Details
Name: | us-gaap_ScheduleOfDefinedBenefitPlansDisclosuresTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of net benefit costs for pension plans and/or other employee benefit plans including service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) recognized due to settlements or curtailments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (h) -URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfNetBenefitCostsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration