VALUATION AND QUALIFYING ACCOUNTS

12 Months Ended

Oct. 31, 2021

SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]

SEC Schedule, 12-09, Schedule of Valuation and Qualifying Accounts Disclosure [Text Block]

SCHEDULE II – VALUATION AND QUALIFYING ACCOUNTS

	Year ended October 31,
	2021	2020	2019
Allowance for doubtful accounts (in thousands):
Allowance as of beginning of year	$12,738	$3,666	$3,258
(Deductions) additions charged to costs and expenses (a)	(1,720)	9,834	638
Additions charged (credited) to other accounts (b)	360	128	10
Deductions (c)	(504)	(890)	(240)
Allowance as of end of year	$10,874	$12,738	$3,666

(a)Additions charged to costs and expenses were higher in fiscal 2020 as compared to fiscal 2021 and fiscal 2019 principally due to potential collection difficulties from certain commercial aviation customers that filed for bankruptcy protection in fiscal 2020 as a result of the financial impact from the COVID-19 global pandemic (the "Pandemic").

(b)Principally additions from acquisitions and foreign currency translation adjustments.

(c)Principally write-offs of uncollectible accounts receivables.

	Year ended October 31,
	2021	2020	2019
Inventory valuation reserves (in thousands):
Reserves as of beginning of year	$126,933	$103,821	$95,391
Additions charged to costs and expenses (a)	17,202	27,030	10,148
Additions (deductions) charged to other accounts (b)	1,261	(63)	1,885
Deductions (c)	(2,803)	(3,855)	(3,603)
Reserves as of end of year	$142,593	$126,933	$103,821

(a)Additions charged to costs and expenses were higher in fiscal 2020 as compared to fiscal 2021 and fiscal 2019 principally due to the significant decline in global commercial air travel due to the ongoing Pandemic resulting in lower demand for the Company's commercial aviation products and services and certain specific obsolescence reserves following the announced retirement of certain aircraft types and engine platforms by major U.S. carriers.

(b)Principally additions from acquisitions and foreign currency translation adjustments.

(c)Principally write-offs of slow-moving, obsolete or damaged inventory.