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Note 12 - Commitments | 6 Months Ended
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Apr. 30, 2023
Notes to Financial Statements |
Commitments Disclosure [Text Block] | Note 12 – Commitments We have operating leases for corporate offices, manufacturing facilities, and certain storage units. Our leases have remaining lease terms of one year to three years, some of which include options to extend the leases for up to five years. A portion of our operating leases are leased from K&K Unlimited, a company controlled by Darren Clark, the former owner and current President of Cables Unlimited, to whom we make rent payments totaling $16,000 per month. We also have other operating leases for certain equipment. The components of our facilities and equipment operating lease expenses for the period ended April 30, 2023 were as follows (in thousands):
|  | Three Months Ended |  |  | Six Months Ended |
|  | April 30, 2023 |  |  | April 30, 2023 |
Operating lease cost |  | $ | 703 |  |  | $ | 1,467 |
Other information related to leases was as follows (in thousands):
|  | April 30, 2023 |  |  | October 31, 2022 |
Supplemental Cash Flows Information |  |  |  |  |  |  |  |
ROU assets obtained in exchange for lease obligations: |  |  |  |  |  |  |  |
Operating leases |  | $ | 141 |  |  | $ | 13,352 |
Weighted Average Remaining Lease Term |  |  |  |  |  |  |  |
Operating leases (in months) |  |  | 111.7 |  |  |  | 113.72 |
Weighted Average Discount Rate |  |  |  |  |  |  |  |
Operating leases |  |  | 3.75 | % |  |  | 3.75 | %
Future minimum lease payments under non-cancellable leases as of April 30, 2023 were as follows:
Year ending October 31, |  | Operating Leases |
2023 (excluding six months ended April 30, 2023) |  | $ | 1,245 |
2024 |  |  | 1,991 |
2025 |  |  | 1,796 |
2026 |  |  | 1,835 |
2027 |  |  | 1,874 |
Thereafter |  |  | 10,619 |
Total future minimum lease payments |  |  | 19,360 |
Less imputed interest |  |  | (3,175 | )
Total |  | $ | 16,185 |
Reported as of April 30, 2023 |  | Operating Leases |
Other current liabilities |  | $ | 1,692 |
Operating lease liabilities |  |  | 14,493 |
Total |  | $ | 16,185 |
As of April 30, 2023, operating lease ROU asset was $12.4 million and operating lease liability totaled $16.2 million, of which $1.7 million is classified as current. There were no finance leases as of April 30, 2023.

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- Definition The entire disclosure for significant arrangements with third parties, which includes operating lease arrangements and arrangements in which the entity has agreed to expend funds to procure goods or services, or has agreed to commit resources to supply goods or services, and operating lease arrangements. Descriptions may include identification of the specific goods and services, period of time covered, minimum quantities and amounts, and cancellation rights. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 440 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//440/tableOfContent + Details
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