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SELECTED FINANCIAL STATEMENT INFORMATION
 3 Months Ended
Jan. 31, 2016
Selected Financial Statement Information [Abstract]  
Selected Financial Statement Information [Text Block]
SELECTED FINANCIAL STATEMENT INFORMATION

Accounts Receivable
(in thousands)
 
January 31, 2016
 
October 31, 2015
Accounts receivable
 

$177,065

 

$183,631

Less: Allowance for doubtful accounts
 
(3,150
)
 
(2,038
)
Accounts receivable, net
 

$173,915

 

$181,593



Costs and Estimated Earnings on Uncompleted Percentage-of-Completion Contracts
(in thousands)
 
January 31, 2016
 
October 31, 2015
Costs incurred on uncompleted contracts
 

$24,387

 

$22,645

Estimated earnings
 
18,247

 
16,116

 
 
42,634

 
38,761

Less: Billings to date
 
(36,119
)
 
(36,442
)


 

$6,515

 

$2,319

Included in the accompanying Condensed Consolidated Balance Sheets under the following captions:
 
 
 
 
Accounts receivable, net (costs and estimated earnings in excess of billings)
 

$11,437

 

$6,263

Accrued expenses and other current liabilities (billings in excess of costs and estimated earnings)
 
(4,922
)
 
(3,944
)
 
 

$6,515

 

$2,319



Changes in estimates pertaining to percentage-of-completion contracts did not have a material effect on net income from consolidated operations for the three months ended January 31, 2016 and 2015.

Inventories
(in thousands)
 
January 31, 2016
 
October 31, 2015
Finished products
 

$122,442

 

$119,262

Work in process
 
35,459

 
32,201

Materials, parts, assemblies and supplies
 
113,576

 
89,739

Contracts in process
 
3,744

 
4,521

Less: Billings to date
 
(1,727
)
 
(2,206
)
Inventories, net of valuation reserves
 

$273,494

 

$243,517


Contracts in process represents accumulated capitalized costs associated with fixed price contracts. Related progress billings and customer advances (“billings to date”) are classified as a reduction to contracts in process, if any, and any excess is included in accrued expenses and other liabilities.

Property, Plant and Equipment
(in thousands)
 
January 31, 2016
 
October 31, 2015
Land
 

$4,586

 

$5,060

Buildings and improvements
 
72,261

 
70,626

Machinery, equipment and tooling
 
161,601

 
152,022

Construction in progress
 
5,915

 
4,668

 
 
244,363

 
232,376

Less: Accumulated depreciation and amortization
 
(131,677
)
 
(126,706
)
Property, plant and equipment, net
 

$112,686

 

$105,670



Accrued Customer Rebates and Credits

The aggregate amount of accrued customer rebates and credits included within accrued expenses and other current liabilities in the accompanying Condensed Consolidated Balance Sheets was $9.8 million and $8.1 million as of January 31, 2016 and October 31, 2015, respectively. The total customer rebates and credits deducted within net sales for the three months ended January 31, 2016 and 2015 was $2.3 million and $1.6 million, respectively.

Research and Development Expenses

The amount of new product research and development ("R&D") expenses included in cost of sales for the three months ended January 31, 2016 and 2015 is as follows (in thousands):
 
 
Three months ended January 31,
 
 
2016
 
2015
R&D expenses
 

$9,007

 

$9,302



Redeemable Noncontrolling Interests

The holders of equity interests in certain of the Company's subsidiaries have rights ("Put Rights") that may be exercised on varying dates causing the Company to purchase their equity interests through fiscal 2025. The Put Rights, all of which relate either to common shares or membership interests in limited liability companies, provide that the cash consideration to be paid for their equity interests (the "Redemption Amount") be at fair value or a formula that management intended to reasonably approximate fair value based solely on a multiple of future earnings over a measurement period. Management's estimate of the aggregate Redemption Amount of all Put Rights that the Company could be required to pay is as follows (in thousands):
 
 
January 31, 2016
 
October 31, 2015
Redeemable at fair value
 

$76,783

 

$76,929

Redeemable based on a multiple of future earnings
 
14,353

 
14,353

Redeemable noncontrolling interests
 

$91,136

 

$91,282



Accumulated Other Comprehensive Loss

Changes in the components of accumulated other comprehensive loss for the three months ended January 31, 2016 are as follows (in thousands):
 
 
Foreign Currency Translation
 
Pension Benefit Obligation
 
Accumulated
Other
Comprehensive Loss
Balances as of October 31, 2015
 

($24,368
)
 

($712
)
 

($25,080
)
Unrealized loss
 
(2,463
)
 
—

 
(2,463
)
Balances as of January 31, 2016
 

($26,831
)
 

($712
)
 

($27,543
)