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

3 Months Ended

Jan. 31, 2018

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, 2018
(in thousands)		Level 1		Level 2		Level 3		Other Assets Not Held at Fair Value		Total
Financial assets:
Cash equivalents	$	23,996	$	244,274	$	-	$	-	$	268,270
Investments:
Investment securities, trading:
Short-term debt securities		-		207,450		-		-		207,450
Other debt securities		14,860		385,932		-		-		400,792
Equity securities		134,218		68,806		-		-		203,024
Investment securities, available-
for-sale		9,443		14,004		-		-		23,447
Investments in non-consolidated
CLO entities(1)		-		-		-		23,860		23,860
Investments in equity method
investees(2)		-		-		-		152,324		152,324
Investments, other(3)		-		146		-		18,695		18,841
Derivative instruments		-		1,147		-		-		1,147
Assets of consolidated CLO entity:
Bank loan investments		-		76,554		-		-		76,554
Total financial assets	$	182,517	$	998,313	$	-	$	194,879	$	1,375,709
Financial liabilities:
Derivative instruments	$	-	$	10,769	$	-	$	-	$	10,769
Total financial liabilities	$	-	$	10,769	$	-	$	-	$	10,769

October 31, 2017
(in thousands)		Level 1		Level 2		Level 3		Other Assets Not Held at Fair Value		Total
Financial assets:
Cash equivalents	$	24,811	$	97,571	$	-	$	-	$	122,382
Investments:
Investment securities, trading:
Short-term debt securities		-		213,537		-		-		213,537
Other debt securities		17,255		296,096		-		-		313,351
Equity securities		125,689		55,799		-		-		181,488
Investment securities, available-
for-sale		8,938		13,527		-		-		22,465
Investments in non-consolidated
CLO entities(1)		-		-		-		3,609		3,609
Investments in equity method
investees(2)		-		-		-		144,911		144,911
Investments, other(3)		-		146		-		18,685		18,831
Derivative instruments		-		1,418		-		-		1,418
Assets of consolidated CLO entity:
Bank loan investments		-		31,348		-		-		31,348
Total financial assets	$	176,693	$	709,442	$	-	$	167,205	$	1,053,340
Financial liabilities:
Derivative instruments	$	-	$	4,175	$	-	$	-	$	4,175
Total financial liabilities	$	-	$	4,175	$	-	$	-	$	4,175
(1) Investments in non-consolidated CLO entities are carried at amortized cost unless facts or circumstances indicate that the
(1) investments have been impaired, at which time the investments are written down to fair value as measured using level 3
(1) inputs. The Company did not recognize any impairment losses on investments in non-consolidated CLO entities during the
(1) three months ended January 31, 2018 or 2017.
(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)		2018		2017
Transfers from Level 1 into Level 2(1)	$	168	$	356
Transfers from Level 2 into Level 1(2)		-		4
(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.