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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

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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.

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