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SELECTED FINANCIAL STATEMENT INFORMATION
 9 Months Ended
Jul. 31, 2022
Selected Financial Statement Information [Abstract]  
Selected Financial Statement Information [Text Block] SELECTED FINANCIAL STATEMENT INFORMATION
Accounts Receivable
(in thousands)July 31, 2022October 31, 2021
Accounts receivable$282,693 $255,793 
Less: Allowance for doubtful accounts(9,542)(10,874)
Accounts receivable, net$273,151 $244,919 

Inventories
(in thousands)July 31, 2022October 31, 2021
Finished products$267,839 $238,867 
Work in process58,738 44,887 
Materials, parts, assemblies and supplies219,366 194,296 
Inventories, net of valuation reserves$545,943 $478,050 

Property, Plant and Equipment
(in thousands)July 31, 2022October 31, 2021
Land$11,200 $11,363 
Buildings and improvements139,777 134,150 
Machinery, equipment and tooling311,102 297,297 
Construction in progress13,320 7,784 
475,399 450,594 
Less: Accumulated depreciation and amortization(272,555)(256,956)
Property, plant and equipment, net$202,844 $193,638 

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 $17.5 million as of July 31, 2022 and $13.2 million as of October 31, 2021. The total customer rebates and credits deducted within net sales for the nine months ended July 31, 2022 and 2021 was $5.9 million and $2.5 million, respectively. The total customer rebates and credits deducted within net sales for the three months ended July 31, 2022 and 2021 was $2.2 million and $.7 million, respectively.
Research and Development Expenses

The amount of new product research and development ("R&D") expenses included in cost of sales for the nine and three months ended July 31, 2022 and 2021 is as follows (in thousands):
Nine months ended July 31,Three months ended July 31,
2022202120222021
R&D expenses$55,804 $52,179 $18,657 $17,976 


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 2032. 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):
July 31, 2022October 31, 2021
Redeemable at fair value $274,854 $217,416 
Redeemable based on a multiple of future earnings22,140 35,171 
Redeemable noncontrolling interests$296,994 $252,587 

As discussed in Note 2, Acquisitions, the Company, through a subsidiary of HFSC, acquired 96% of the stock of Accurate in July 2022. As part of the operating agreement, the noncontrolling interest holders have the right to cause the Company to purchase their membership interest over a four-year period beginning in fiscal 2029, or sooner under certain conditions, and the Company has the right to purchase the same membership interest over the same period.

As discussed in Note 2, Acquisitions, the Company, through a subsidiary of HFSC, acquired 74% of the membership interests of Pioneer in March 2022. As part of the operating agreement, the noncontrolling interest holders have the right to cause the Company to purchase their membership interest over a four-year period beginning in fiscal 2029, or sooner under certain conditions, and the Company has the right to purchase the same membership interest over the same period.

During fiscal 2022, the holder of a 19.9% noncontrolling equity interest in a subsidiary of the FSG that was acquired in fiscal 2017 exercised its option to cause the Company to purchase one-half of the noncontrolling interest in fiscal 2022 and the remaining one-half in fiscal 2024. Accordingly, the Company acquired an additional 9.95% equity interest in May 2022, which increased the Company's ownership interest in the subsidiary to 90.05%.
During fiscal 2022, the Company sold a 3% equity interest in a subsidiary of the FSG that was acquired in fiscal 2015, which decreased the Company's ownership interest in the subsidiary to 82%. As part of the operating agreement, the noncontrolling interest holder has the right to cause the Company to purchase one-fifth of its equity interest beginning in fiscal 2028, or sooner under certain conditions, and each remaining one-fifth equity interest following the first anniversary of the most recent put option exercise. The Company has the right to purchase the same equity interest over the same period.

During fiscal 2022, the Company sold 10% of the membership interests of a subsidiary of the FSG that was acquired in fiscal 2018, which decreased the Company's ownership interest in the subsidiary to 90%. As part of the operating agreement, the noncontrolling interest holder has the right to cause the Company to purchase its membership interest over a four-year period beginning in fiscal 2027, or sooner under certain conditions, and the Company has the right to purchase the same membership interest over the same period.

Accumulated Other Comprehensive Loss

Changes in the components of accumulated other comprehensive loss for the nine months ended July 31, 2022 are as follows (in thousands):
Foreign Currency TranslationDefined Benefit Pension PlanAccumulated
Other
Comprehensive Loss
Balances as of October 31, 2021($6,989)($1,563)($8,552)
Unrealized loss(29,424)— (29,424)
Amortization of unrealized loss — 49 49 
Balances as of July 31, 2022($36,413)($1,514)($37,927)