XML 24 R33.htm IDEA: XBRL DOCUMENT v2.4.1.9
FAIR VALUE MEASUREMENTS (Tables)
12 Months Ended
Oct. 31, 2014
Fair Value Disclosures [Abstract]  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]
The Company's assets and liabilities that were measured at fair value on a recurring basis are set forth by level within the fair value hierarchy in the following tables (in thousands):
 
 
As of October 31, 2014
 
 
Quoted Prices
in Active Markets for Identical Assets (Level 1)
 
Significant
Other Observable Inputs
(Level 2)
 
Significant Unobservable Inputs
(Level 3)
 
Total
Assets:
 
 
 
 
 
 
 
 
Deferred compensation plans:
 
 
 
 
 
 
 
 
Corporate owned life insurance
 

$—

 

$61,958

 

$—

 

$61,958

Money market funds
 
3,974

 

 

 
3,974

Equity securities
 
2,225

 

 

 
2,225

Mutual funds
 
1,903

 

 

 
1,903

Other
 
1,339

 
50

 

 
1,389

Total assets
 

$9,441

 

$62,008

 

$—

 

$71,449

 
 
 
 
 
 
 
 
 
Liabilities:
 
 
 
 
 
 
 
 
Contingent consideration
 

$—

 

$—

 

$1,184

 

$1,184

 
 
As of October 31, 2013
 
 
Quoted Prices
in Active Markets for Identical Assets (Level 1)
 
Significant
Other Observable Inputs
(Level 2)
 
Significant Unobservable Inputs
(Level 3)
 
Total
Assets:
 
 
 
 
 
 
 
 
Deferred compensation plans:
 
 
 
 
 
 
 
 
Corporate owned life insurance
 

$—

 

$52,655

 

$—

 

$52,655

Money market deposit accounts
 
1,470

 

 

 
1,470

Equity securities
 
1,940

 

 

 
1,940

Mutual funds
 
1,529

 

 

 
1,529

Other
 

 
46

 

 
46

Total assets
 

$4,939



$52,701

 

$—

 

$57,640

 
 
 
 
 
 
 
 
 
Liabilities:
 
 
 
 
 
 
 
 
Contingent consideration
 

$—

 

$—

 

$29,310

 

$29,310

Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Table Text Block]
The Level 3 inputs used to derive the estimated fair values of the contingent consideration as of October 31, 2014 are as follows:
 
 
Fiscal 2013 Acquisition
 
Fiscal 2012 Acquisition
Compound annual revenue growth rate range
 
(7%) - 20%
 
(8%) - 26%
Weighted average discount rate
 
2.6%
 
3.0%
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]
Changes in the Company’s assets and liabilities measured at fair value on a recurring basis using unobservable inputs (Level 3) for the fiscal years ended October 31, 2014 and 2013 are as follows (in thousands):
 
 
Assets
 
Liabilities
Balances as of October 31, 2012
 

$538

 

$10,897

Contingent consideration related to acquisition
 

 
20,654

Payment of contingent consideration
 

 
(601
)
Decrease in accrued contingent consideration
 

 
(1,640
)
Total realized gains
 
48

 

Sales
 
(586
)
 

Balances as of October 31, 2013
 

 
29,310

Decrease in accrued contingent consideration
 

 
(28,126
)
Balances as of October 31, 2014
 

$—

 

$1,184

Schedule of Impaired Intangible Assets [Table Text Block]
The fair values of the Company’s nonfinancial assets and liabilities that were measured at fair value on a nonrecurring basis, which are classified within Level 3, and the related impairment losses recognized in fiscal 2014 are as follows (in thousands):
 
 
Carrying Amount
 
Impairment Loss
 
Fair Value (Level 3)
Assets:
 
 
 
 
 
 
Customer relationships
 

$19,366

 

($11,200
)
 

$8,166

Non-amortizing trade names
 
10,000

 
(1,900
)
 
8,100

Intellectual property
 
2,302

 
(1,900
)
 
402

Impairment of intangible assets
 
 
 

($15,000
)
 
 
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques [Table Text Block]
The Level 3 inputs used to derive the estimated fair values of the customer relationships, non-amortizing trade names and intellectual property during fiscal 2014 are as follows:
 
 
Customer Relationships
 
Non-Amortizing Trade Names
 
Intellectual Property
Valuation method
 
Excess Earnings
 
Relief from Royalty
 
Relief from Royalty
Discount rate
 
15.0% - 19.0%
 
14.0% - 18.0%
 
19.0%
Annual attrition rate
 
25.0% - 30.0%
 
N/A
 
20.0%
Royalty rate
 
N/A
 
1.0% - 2.5%
 
6.0%