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Derivative Instruments and Fair Value Measurement of Assets and Liabilities (Tables)
9 Months Ended
Jul. 31, 2013
Derivative Insruments and Fair Value of Assets and Liabilities [Abstract]  
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance [Table Text Block]
Therefore, changes in the fair value of these contracts and the realized gains and losses are recorded in the condensed consolidated statements of income as follows:
 
 
 
Three Months Ended
 
Nine Months Ended
Derivatives Not Designated as Hedging Instruments
Location of Gain or (Loss)
 
July 31,
 
July 31,
 
Recognized in Earnings
 
2013
 
2012
 
2013
 
2012
 
 
 
(In thousands)
Aluminum derivatives
Cost of sales
 
$
(49
)
 
$
(734
)
 
$
(233
)
 
$
(637
)
Foreign currency derivatives
Other, net
 
$
(231
)
 
$
700

 
$
(613
)
 
$
1,326

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]
The fair value of outstanding derivative contracts were recorded as assets and liabilities on the accompanying condensed consolidated balance sheets as indicated in the table below:
 
July 31, 2013
 
October 31, 2012
 
(In thousands)
Asset Derivatives
 
 
 
Prepaid and other current assets:
 
 
 
Aluminum derivatives
$
4

 
$
10

Foreign currency derivatives
2

 
6

Other assets:
 
 
 
Aluminum derivatives
8

 

 
 
 
 
Liability Derivatives
 
 
 
Accrued liabilities:
 
 
 
Aluminum derivatives
259

 
170

Foreign currency derivatives
111

 
23

Other liabilities (non-current):
 
 
 
Aluminum derivatives
$

 
$
4

Schedule of Notional Amounts of Oustanding Derivative Positions
The following table summarizes the notional amounts and fair value of outstanding derivative contracts:
 
 
Notional as indicated
 
Fair Value in $
 
 
July 31, 2013
 
October 31, 2012
 
July 31, 2013
 
October 31, 2012
 
 
(In thousands)
Aluminum derivatives:
 
 
 
 
 
 
 
 
Aluminum forward purchase contracts
LBS
3,638

 
2,370


$
(28
)

$
(164
)
Aluminum swap contracts
LBS
991

 


(219
)


 
 
 
 
 
 
 
 
 
Foreign currency exchange derivatives:
 
 
 
 
 
 
 
 
Sell EUR, buy USD
EUR
7,687

 
7,663

 
(85
)
 
(23
)
Buy GBP, sell USD
GBP
2,781

 
1,934

 
(24
)
 
5

Sell CAD, buy USD
CAD
637

 
608

 
(2
)
 
1

Buy EUR, sell GBP
EUR
96

 

 
2

 

Sell EUR, buy GBP
EUR

 
545

 
$

 
$

Summary of Fair Value of Assets Measured on Recurring Basis
The following table summarizes the assets and liabilities measured on a recurring basis based on the fair value hierarchy:
 
July 31, 2013
 
October 31, 2012
 
Level 1
Level 2
Level 3
Total
 
Level 1
Level 2
Level 3
Total
 
(In thousands)
Assets
 
Investments in money market fund
$
8,503

$

$

$
8,503

 
$
67,819

$

$

$
67,819

Pension plan assets
23,171



23,171

 
18,562



18,562

Aluminum derivatives

12


12

 

10


10

Foreign currency exchange derivatives

2


2

 

6


6

Total assets
$
31,674

$
14

$

$
31,688

 
$
86,381

$
16

$

$
86,397

 
 
 
 
 
 
 
 
 
 
Liabilities
 
 
 
 
 
 
 
 
 
Aluminum derivatives
$

$
(259
)
$

$
(259
)
 
$

$
(174
)
$

$
(174
)
Foreign currency exchange derivatives

(111
)

(111
)
 

(23
)

(23
)
Contingent consideration


(250
)
(250
)
 




Total liabilities
$

$
(370
)
$
(250
)
$
(620
)
 
$

$
(197
)
$

$
(197
)
 
 
 
 
 
 
 
 
 
 
Net assets (liabilities)
$
31,674

$
(356
)
$
(250
)
$
31,068

 
$
86,381

$
(181
)
$

$
86,200