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DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)

9 Months Ended

Jul. 31, 2016

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Fair Value of Derivative Instruments

As of July 31, 2016 and October 31, 2015, all derivative instruments were recorded at fair value on the balance sheets as follows (in thousands):

		July 31, 2016					October 31, 2015
		Balance Sheet		Fair			Balance Sheet		Fair
Derivatives		Location		Value			Location		Value
Designated as hedging instruments:
Foreign exchange forward contracts		Derivative assets		$	1,509		Derivative assets		$	1,079
Foreign exchange forward contracts		Derivative liabilities		$	562		Derivative liabilities		$	1,027
Not designated as hedging instruments:
Foreign exchange forward contracts		Derivative assets		$	510		Derivative assets		$	149
Foreign exchange forward contracts		Derivative liabilities		$	214		Derivative liabilities		$	44

Schedule of Effect of Derivative Instruments on the Balance Sheets, Statements of Changes in Shareholders' Equity and Statements of Operations

Derivative instruments had the following effects on our Condensed Consolidated Balance Sheets, Condensed Consolidated Statements of Changes in Shareholders’ Equity and Condensed Consolidated Statements of Income, net of tax, during the three months ended July 31, 2016 and 2015 (in thousands):

Derivatives		Amount of Gain (Loss) Recognized in Other Comprehensive Income (Loss)						Location of Gain (Loss) Reclassified from Other Comprehensive Income (Loss)		Amount of Gain (Loss) Reclassified from Other Comprehensive Income (Loss)
		Three Months Ended  July 31,								Three Months Ended July 31,
		2016			2015					2016			2015
Designated as hedging instruments:
(Effective portion)
Foreign exchange forward contracts – Intercompany sales/purchases		$	1,277		$	(159)		Cost of sales and service		$	229		$	377
Foreign exchange forward contract – Net investment		$	59		$	60

Derivative instruments had the following effects on our Condensed Consolidated Balance Sheets, Condensed Consolidated Statements of Changes in Shareholders’ Equity and Condensed Consolidated Statements of Income, net of tax, during the nine months ended July 31, 2016 and 2015 (in thousands):

Derivatives		Amount of Gain (Loss) Recognized in Other Comprehensive Income (Loss)						Location of Gain (Loss) Reclassified from Other Comprehensive Income (Loss)		Amount of Gain (Loss) Reclassified from Other Comprehensive Income (Loss)
		Nine Months Ended July 31,								Nine Months Ended July 31,
		2016			2015					2016			2015
Designated as hedging instruments:
(Effective portion)
Foreign exchange forward contracts – Intercompany sales/purchases		$	710		$	1,693		Cost of sales and service		$	1,703		$	5
Foreign exchange forward contract – Net investment		$	(21)		$	308

Schedule of Derivatives Not Designated as Hedging Instruments

We recognized the following gains and losses in our Condensed Consolidated Statements of Income during the three months ended July 31, 2016 and 2015 on derivative instruments not designated as hedging instruments (in thousands):

 

Derivatives		Location of Gain (Loss) Recognized in Operations		Amount of Gain (Loss) Recognized in Operations
				Three Months Ended  July 31,
				2016			2015
Not Designated as Hedging Instruments:
Foreign exchange forward contracts		Other (income) expense, net		$	1,156		$	37

We recognized the following gains and losses in our Condensed Consolidated Statements of Income during the nine months ended July 31, 2016 and 2015 on derivative instruments not designated as hedging instruments (in thousands):

 

Derivatives		Location of Gain (Loss) Recognized in Operations		Amount of Gain (Loss) Recognized in Operations
				Nine Months Ended July 31,
				2016			2015
Not designated as hedging instruments:
Foreign exchange forward contracts		Other (income) expense, net		$	56		$	3,082

Schedule of Changes in Components of Accumulated Other Comprehensive Loss

The following table presents the changes in the components of Accumulated other comprehensive loss, net of tax, for the three months ended July 31, 2016 (in thousands):

		Foreign
		Currency			Cash Flow
		Translation			Hedges			Total
Balance, April 30, 2016		$	(9,872)		$	(543)		$	(10,415)
Other comprehensive income (loss) before reclassifications			(1,428)			1,277			(151)
Reclassifications			—			(229)			(229)
Balance, July 31, 2016		$	(11,300)		$	505		$	(10,795)

The following table presents the changes in the components of Accumulated other comprehensive loss, net of tax, for the nine months ended July 31, 2016 (in thousands):

		Foreign
		Currency			Cash Flow
		Translation			Hedges			Total
Balance, October 31, 2015		$	(10,884)		$	1,498		$	(9,386)
Other comprehensive income (loss) before reclassifications			(416)			710			294
Reclassifications			—			(1,703)			(1,703)
Balance, July 31, 2016		$	(11,300)		$	505		$	(10,795)

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Tabular disclosure of the components of accumulated other comprehensive income (loss).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 14A
-URI http://asc.fasb.org/extlink&oid=66004124&loc=SL7669686-108580

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Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-URI http://asc.fasb.org/extlink&oid=64837297&loc=SL5624171-113959

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4A
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=64837297&loc=SL5618551-113959

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Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
-URI http://asc.fasb.org/extlink&oid=64837297&loc=SL5624163-113959

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Tabular disclosure for other derivative instruments not designated as hedging instruments of (a) the location and amount of gains and losses reported in the statement of financial performance and (b) the location and fair value amounts of the instruments reported in the statement of financial position.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=64837297&loc=SL5624171-113959

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