XML 34 R18.htm IDEA: XBRL DOCUMENT
v3.20.4

RELATED PARTY TRANSACTIONS | 12 Months Ended
--- | ---
Oct. 31, 2020
RELATED PARTY TRANSACTIONS |
RELATED PARTY TRANSACTIONS | 10. RELATED PARTY TRANSACTIONS As of October 31, 2020, we owned approximately 35% of the outstanding shares of a Taiwanese–based contract manufacturer, Hurco Automation, Ltd. (“HAL”). HAL’s scope of activities includes the design, manufacture, sales, and distribution of industrial automation products, software systems, and related components, including control systems and components produced under contract for sale exclusively to us. We are accounting for this investment using the equity method. The investment of $4.4 million and $4.2 million at October 31, 2020 and 2019, respectively, is included in Investments and other assets, net on the Consolidated Balance Sheets. Purchases of controls from HAL amounted to $6.2 million, $8.5 million, and $11.3 million in fiscal 2020, 2019 and 2018, respectively. Sales of control component parts to HAL were $265,000, $198,000 and $197,000 for the fiscal years ended October 31, 2020, 2019, and 2018, respectively. Trade payables to HAL were $1.3 million and $938,000 at October 31, 2020 and 2019, respectively. Trade receivables from HAL were $25,000 and $22,000 at October 31, 2020 and 2019, respectively. Summary unaudited financial information for HAL’s operations and financial condition is as follows (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2020 |  | 2019 |  | 2018
Net Sales | ​ | $ | 10,096 |  | $ | 15,957 | ​ | $ | 17,841
Gross Profit | ​ |  | 1,418 | ​ |  | 2,322 | ​ |  | 2,944
Operating Income | ​ |  | 160 | ​ |  | 992 | ​ |  | 1,534
Net Income | ​ |  | 265 | ​ |  | 1,490 | ​ |  | 1,845
​ | ​ |  |  | ​ |  |  | ​ |  |
Current Assets | ​ | $ | 12,436 |  | $ | 12,019 | ​ | $ | 12,870
Non–current Assets | ​ |  | 6,152 | ​ |  | 5,560 | ​ |  | 4,579
Current Liabilities | ​ |  | 3,708 | ​ |  | 3,674 | ​ |  | 4,666
​

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

X
- Definition The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -URI http://asc.fasb.org/topic&trid=2122745 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39691-107864 + Details
Name: | us-gaap_RelatedPartyTransactionsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration