Derivative Financial Instruments

12 Months Ended

Oct. 31, 2012

Derivative Financial Instruments Disclosure [Abstract]

Derivative Financial Instruments

7. Derivative Financial Instruments

Derivative financial instruments designated as cash flow hedges

During each of the fiscal years ended October 31, 2012, 2011, and 2010, the Company reclassified into interest expense $0.4 million of the loss on a Treasury lock transaction related to the Company's issuance of ten-year senior notes in October 2007. The loss recorded in other comprehensive income (loss) is being reclassified to earnings as a component of interest expense over the term of the debt. At October 31, 2012, the remaining unamortized loss on this transaction was $2.2 million. During fiscal 2013, the Company expects to reclassify approximately $0.4 million of the loss on the Treasury lock transaction into interest expense.

Other derivative financial instruments not designated for hedge accounting

The Company has entered into a series of foreign exchange contracts, stock index futures contracts and commodity futures contracts to hedge currency risk and market risk associated with its investments in separately managed accounts and consolidated sponsored funds seeded for new product development purposes.

At October 31, 2012, the Company had 49foreign exchange contracts outstanding with eightcounterparties with an aggregate notional value of $35.7million; 1,325stockindex futures contracts outstanding with onecounterparty with an aggregate notional value of $97.1million; and 200commodity futures contracts outstanding withone counterparty with an aggregate notional value of $11.8million.

The following tables present the fair value of derivative instruments not designated as hedging instruments as of October 31, 2012 and 2011:

October 31, 2012
	Assets			Liabilities
(in thousands)	Balance Sheet Location		Fair Value	Balance Sheet Location		Fair Value
Foreign exchange contracts	Other assets	$	226	Other liabilities	$	300
Stock index futures contracts	Other assets		1,505	Other liabilities		367
Commodity futures contracts	Other assets		498	Other liabilities		121
Total		$	2,229		$	788

October 31, 2011
	Assets			Liabilities
(in thousands)	Balance Sheet Location		Fair Value	Balance Sheet Location		Fair Value
Foreign exchange contracts	Other assets	$	24	Other liabilities	$	124
Stock index futures contracts	Other assets		157	Other liabilities		6,363
Commodity futures contracts	Other assets		879	Other liabilities		167
Total		$	1,060		$	6,654

The following is a summary of the net gains (losses) recognized in income for the years ended October 31,2012, 2011 and 2010:

	Income Statement
(in thousands)	Location		2012		2011		2010
	Gains and other
Foreign exchange contracts	investment income, net	$	288	$	(1,495)	$	(810)
	Gains and other
Stock index futures contracts	investment income, net		(11,361)		(2,658)		(1,923)
	Gains and other
Commodity futures contracts	investment income, net		693		305		(836)
Total		$	(10,380)	$	(3,848)	$	(3,569)