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

6 Months Ended

Apr. 30, 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

April 30, 2017
(in thousands)		Level 1		Level 2		Level 3			Other Assets Not Held at Fair Value		Total
Financial assets:
Cash equivalents	$	269,016	$	37,488	$	-		$	-	$	306,504
Investments:
Investment securities, trading:
Short-term debt securities		-		66,591			-		-		66,591
Other debt securities		22,754		276,494			-		-		299,248
Equity securities		170,012		43,588			-		-		213,600
Investment securities, available-for-sale		8,181		2,531		-			-		10,712
Investments in non-consolidated CLO
entities(1)		-		-		-			2,928		2,928
Investments in equity method investees(2)		-		-		-			137,911		137,911
Investments, other(3)		-		146		-			18,985		19,131
Derivative instruments		-		265		-			-		265
Total financial assets	$	469,963	$	427,103	$	-		$	159,824	$	1,056,890
Financial liabilities:
Derivative instruments	$	-	$	4,961	$	-		$	-	$	4,961
Total financial liabilities	$	-	$	4,961	$	-		$	-	$	4,961

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.
	The investments are carried at amortized cost unless facts and circumstances indicate that the investments have been impaired,
	at which time the investments are written down to fair value. The Company did not recognize any impairment losses on investments
	in non-consolidated CLO entities during the three and six months ended April 30, 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				Six Months Ended
			April 30,				April 30,
(in thousands)			2017		2016		2017		2016
Transfers from Level 1 into Level 2(1)		$	48	$	129	$	457	$	118
Transfers from Level 2 into Level 1(2)			42		86		47		102
(1)	Transfers from Level 1 into Level 2 represent securities for which unadjusted quoted market prices in active markets
	became unavailable.
(2)	Transfers from Level 2 into Level 1 represent securities for which unadjusted quoted market prices in active markets
	became available.

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

			Three Months Ended				Six Months Ended
			April 30, 2016				April 30, 2016
(in thousands)			Bank Loan Investments of Eaton Vance CLO 2015-1		Senior and Subordinated Note Obligations of Eaton Vance CLO 2015-1		Bank Loan Investments of Eaton Vance CLO 2015-1		Senior and Subordinated Note Obligations of Eaton Vance CLO 2015-1
Beginning balance		$	700	$	390,654	$	-	$	-
Net losses on investments and note
	obligations included in net income(1)		(40)		(6,430)		(40)		(6,430)
Transfers into Level 3(2)			-		-		700		390,654
Ending balance		$	660	$	384,224	$	660	$	384,224
Change in unrealized losses included in
	net income relating to assets and
	liabilities held	$	(40)	$	(6,430)	$	(40)	$	(6,430)
(1)	Substantially all net losses on investments and note obligations attributable to the assets and borrowings of the Company's consolidated
	CLO entities are allocated to non-controlling and other beneficial interests on the Company's Consolidated Statements of Income.
(2)	Transfers into Level 3 were the result of a reduction in the availability of significant observable inputs used in determining the fair value of
	certain instruments.