Fair Value of Assets and Liabilities Measured at Fair Value on a Recurring Basis (Tables)

3 Months Ended

Jan. 31, 2017

Fair Value of Assets and Liabilities Measured at Fair Value on a Recurring Basis Tables [Abstract]

Summary of financial assets and liabilites measured at fair value on a recurring basis and their assigned levels within the valuation hierarchy

January 31, 2017
(in thousands)		Level 1		Level 2		Level 3		Other Assets Not Held at Fair Value		Total
Financial assets:
Cash equivalents	$	17,923	$	31,086	$	-	$	-	$	49,009
Investments:
Investment securities, trading:
Short-term debt securities		-		68,915		-		-		68,915
Other debt securities		24,470		229,484		-		-		253,954
Equity securities		161,567		44,102		-		-		205,669
Investment securities, available-
for-sale		7,755		2,393		-		-		10,148
Investments in non-consolidated
CLO entities(1)		-		-		-		3,927		3,927
Investments in equity method
investees(2)		-		-		-		143,430		143,430
Investments, other(3)		-		120		-		19,034		19,154
Derivative instruments		-		329		-		-		329
Total financial assets	$	211,715	$	376,429	$	-	$	166,391	$	754,535
Financial liabilities:
Derivative instruments	$	-	$	3,951	$	-	$	-	$	3,951
Total financial liabilities	$	-	$	3,951	$	-	$	-	$	3,951

October 31, 2016
(in thousands)		Level 1		Level 2		Level 3		Other Assets Not Held at Fair Value		Total
Financial assets:
Cash equivalents	$	21,875	$	35,913	$	-	$	-	$	57,788
Investments:
Investment securities, trading:
Short-term debt securities		-		85,822		-		-		85,822
Other debt securities		18,757		172,931		-		-		191,688
Equity securities		93,491		42,540		-		-		136,031
Investment securities, available-
for-sale		11,051		2,261		-		-		13,312
Investments in non-consolidated
CLO entities(1)		-		-		-		3,837		3,837
Investments in equity method
investees(2)		-		-		-		139,929		139,929
Investments, other(3)		-		120		-		19,034		19,154
Derivative instruments		-		2,072		-		-		2,072
Total financial assets	$	145,174	$	341,659	$	-	$	162,800	$	649,633
Financial liabilities:
Derivative instruments	$	-	$	815	$	-	$	-	$	815
Total financial liabilities	$	-	$	815	$	-	$	-	$	815
(1) The Company’s investments in these CLO entities are measured at fair value on a non-recurring basis using Level 3 inputs.
(1) The investments are carried at amortized cost unless facts and circumstances indicate that the investments have been
(1) impaired, at which time the investments are written down to fair value. The Company did not recognize any impairment
(1) losses on investments in non-consolidated CLO entities during the three months ended January 31, 2017 or 2016.
(2) Investments in equity method investees are not measured at fair value in accordance with U.S. GAAP.
(3) Investments, other, include investments carried at cost that are not measured at fair value in accordance with U.S. GAAP.

Summary of fair value transfers between Level 1 and Level 2 of the fair value measurement hierarchy

	Three Months Ended
	January 31,
(in thousands)		2017		2016
Transfers from Level 1 into Level 2(1)	$	356	$	44
Transfers from Level 2 into Level 1(2)		4		19
(1) Transfers from Level 1 into Level 2 represent securities for which unadjusted quoted market prices in active markets
(1) became unavailable.
(2) Transfers from Level 2 into Level 1 represent securities for which unadjusted quoted market prices in active markets
(2) became available.

Summary of the changes in Level 3 assets and liabilities measured at fair value on a recurring basis

	Three Months Ended
	January 31, 2016
(in thousands)		Bank Loan Investments of Eaton Vance CLO 2015-1		Senior and Subordinated Note Obligations of Eaton Vance CLO 2015-1
Beginning balance	$	-	$	-
Transfers into Level 3(1)		700		390,654
Ending balance	$	700	$	390,654
Change in unrealized gains (losses) included in net
income relating to assets and liabilities held	$	-	$	-
(1) Transfers into Level 3 were the result of a reduction in the availability of significant observable inputs used in
(1) determining the fair value of certain instruments.