10-K

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-K

ANNUAL REPORT PURSUANT TO SECTIONS 13 OR 15(d) OF

THE SECURITIES EXCHANGE ACT OF 1934

(Mark One)

x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended October 31, 2011

OR

¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from                      to                     

Commission file number 0-7977

NORDSON CORPORATION

(Exact name of Registrant as specified in its charter)

Ohio	34-0590250
(State of incorporation)	(I.R.S. Employer Identification No.)
28601 Clemens Road Westlake, Ohio	44145
(Address of principal executive offices)	(Zip Code)
(440) 892-1580
(Registrant’s Telephone Number, including area code)

Securities registered pursuant to Section 12(b) of the Act:

Common Shares with no par value

Securities registered pursuant to Section 12(g) of the Act:

None

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.    Yes  x        No  ¨

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.    Yes  ¨        No  x

Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15 (d) of the Securities Exchange Act of 1934 during the preceding 12 months, and (2) has been subject to such filing requirements for the past 90 days.    Yes  x        No  ¨

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the Registrant was required to submit and post such files).    Yes  x        No  ¨

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K is not contained herein, and will not be contained, to the best of registrant’s knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K.    x

Indicate by check mark whether the Registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer or a smaller reporting company. See definition of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act. (Check one):

Large accelerated filer  x	Accelerated filer  ¨	Non-accelerated filer  ¨	Smaller reporting company  ¨
(Do not check if smaller reporting company)

Indicate by check mark whether the Registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).    Yes  ¨        No  x

The aggregate market value of Common Shares no par value per share, held by nonaffiliates (based on the closing sale price on the Nasdaq Stock Market) as of April 29, 2011 was approximately $3,670,599,000.

There were 65,343,146 Common Shares outstanding as of November 30, 2011.

Documents incorporated by reference:

Portions of the Proxy Statement for the 2012 Annual Meeting — Part III

Table of Contents

PART I			1
	Item 1.	Business	1
		General Description of Business	1
		Corporate Purpose and Goals	1
		Financial Information About Operating Segments, Foreign and Domestic Operations and Export Sales	2
		Principal Products and Uses	2
		Manufacturing and Raw Materials	4
		Intellectual Property	4
		Seasonal Variation in Business	5
		Working Capital Practices	5
		Customers	5
		Backlog	5
		Government Contracts	5
		Competitive Conditions	5
		Research and Development	5
		Environmental Compliance	6
		Employees	6
		Available Information	6
	Item 1A.	Risk Factors	7
	Item 1B.	Unresolved Staff Comments	10
	Item 2.	Properties	11
	Item 3.	Legal Proceedings	12
	Item 4.	Removed and Reserved	12
		Executive Officers of the Company	13
PART II			14
	Item 5.	Market for the Company's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities	14
		Market Information and Dividends	14
		Performance Graph	15
	Item 6.	Selected Financial Data	16
	Item 7.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	17
		Critical Accounting Policies and Estimates	17
	Item 7A.	Quantitative and Qualitative Disclosures About Market Risk	29
	Item 8.	Financial Statements and Supplementary Data	31
		Consolidated Statements of Income	31
		Consolidated Balance Sheets	32
		Consolidated Statements of Shareholders’ Equity	33
		Consolidated Statements of Cash Flows	34
		Notes to Consolidated Financial Statements	35
		Management’s Report on Internal Control Over Financial Reporting	69
		Report of Independent Registered Public Accounting Firm	70
		Report of Independent Registered Public Accounting Firm	71

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Table of Contents

	Item 9.	Changes in and Disagreements With Accountants on Accounting and Financial Disclosure	72
	Item 9A.	Controls and Procedures	72
	Item 9B.	Other Information	72
PART III			72
	Item 10.	Directors, Executive Officers and Corporate Governance	72
	Item 11.	Executive Compensation	73
	Item 12.	Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters	73
		Equity Compensation Table	73
	Item 13.	Certain Relationships and Related Transactions, and Director Independence	73
	Item 14.	Principal Accountant Fees and Services	73
PART IV			74
	Item 15.	Exhibits and Financial Statement Schedule	74
		(a) 1. Financial Statements	74
		(a) 2. Financial Statement Schedule	74
		(a) 3. Exhibits	74
		Signatures	75
		Schedule II — Valuation and Qualifying Accounts and Reserves	77
		Index to Exhibits	78
		Subsidiaries of the Registrant	81
		Consent of Independent Registered Public Accounting Firm	84
		Certifications	85

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PART I

NOTE REGARDING AMOUNTS AND FISCAL YEAR REFERENCES

In this annual report, all amounts related to United States dollars and foreign currency and to the number of Nordson Corporation’s common shares, except for per share earnings and dividend amounts, are expressed in thousands.

Unless otherwise noted, all references to years relate to our fiscal year ending October 31.

Item 1. Business

General Description of Business

Nordson engineers, manufactures and markets differentiated products and systems used for adhesive, coating, sealant and biomaterial dispensing, fluid management, testing and inspection, curing, and surface treatment, backed with application expertise and direct global sales and service. Nordson serves a wide variety of consumer non-durable, consumer durable and technology end markets including packaging, nonwovens, electronics, medical, appliances, energy, transportation, building and construction, and general product assembly and finishing.

Our strategy for long-term growth is based on a customer-driven focus and a global mindset. Headquartered in Westlake, Ohio, our products are marketed through a network of direct operations in more than 30 countries. Consistent with this global strategy, 75 percent of our revenues are generated outside the United States.

We have 4,094 employees worldwide. Principal manufacturing facilities are located in the United States in California, Colorado, Georgia, Minnesota, New Jersey, Ohio and Rhode Island, as well as in Belgium, China, Germany, India, the Netherlands and the United Kingdom.

Corporate Purpose and Goals

We strive to be a vital, self-renewing, worldwide organization that, within the framework of ethical behavior and enlightened citizenship, grows and produces wealth for our customers, employees, shareholders and communities.

We operate for the purpose of creating balanced, long-term benefits for all of our constituencies: customers, employees, shareholders and communities.

Although every quarter may not produce increased sales, earnings and earnings per share, or exceed the comparative prior year’s quarter, we do expect to produce long-term gains. When short-term swings occur, we do not intend to alter our basic objectives in efforts to mitigate the impact of these natural occurrences.

Growth is achieved by seizing opportunities with existing products and markets, investing in systems to maximize productivity and pursuing growth markets. This strategy is augmented through product line additions, engineering, research and development, and acquisition of companies that can serve multinational industrial markets.

We create benefits for our customers through a Package of Values^®, which includes carefully engineered, durable products; strong service support; the backing of a well-established worldwide company with financial and technical strengths; and a corporate commitment to deliver what was promised.

We strive to provide genuine customer satisfaction; it is the foundation upon which we continue to build our business.

Complementing our business strategy is the objective to provide opportunities for employee self-fulfillment, growth, security, recognition and equitable compensation. This goal is met through Human Resources’ facilitation of employee training and leadership training and the creation of on-the-job growth opportunities. The result is a highly qualified and professional management team capable of meeting corporate objectives.

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We recognize the value of employee participation in the planning process. Strategic and operating plans are developed by all business units and divisions, resulting in a sense of ownership and commitment on the part of employees in accomplishing our objectives. In addition, employees participate in Lean and Six Sigma initiatives to continuously improve our processes.

We are an equal opportunity employer.

We are committed to contributing approximately five percent of domestic pretax earnings to human services, education and other charitable activities, particularly in communities where we have major facilities.

Financial Information About Operating Segments, Foreign and Domestic Operations and Export Sales

In accordance with accounting standards, we have reported information about our three operating segments. This information is contained in Note 16 of Notes to Consolidated Financial Statements, which can be found in Part II, Item  8 of this document.

Principal Products and Uses

We engineer, manufacture and market differentiated products and systems used for precision dispensing, testing and inspection, fluid management, surface treatment and curing. Our technology-based systems can be found in manufacturing facilities around the world producing a wide range of goods for consumer durable, consumer non-durable and technology end markets. Equipment ranges from single-use components to manual, stand-alone units for low-volume operations to microprocessor-based automated systems for high-speed, high-volume production lines.

We market our products in the United States and in more than 50 other countries, primarily through a direct sales force and also through qualified distributors and sales representatives. We have built a worldwide reputation for creativity and expertise in the design and engineering of high-technology application equipment that meets the specific needs of our customers. We create value for our customers by developing solutions that increase uptime, enable faster line speeds and reduce consumption of materials.

The following is a summary of the products and markets served by our operating segments:

1. Adhesive Dispensing Systems

This segment delivers our proprietary precision dispensing technology to diverse markets for applications that commonly reduce material consumption, increase line efficiency and enhance product strength, durability, brand and appearance.

• Nonwovens — Equipment for applying adhesives, lotions, liquids and fibers to disposable products. Key strategic markets include adult incontinence products, baby diapers and child-training pants, feminine hygiene products and surgical drapes, gowns, shoe covers and face masks.

• Packaging — Automated adhesive dispensing systems used in the food and beverage and packaged goods industries. Key strategic markets include food packages and wrappers and drink containers.

• Product Assembly — Adhesive and sealant dispensing systems for bonding or sealing plastic, metal and wood products and for use in the paper and paperboard converting industries. Key strategic markets include appliances, automotive components, building and construction materials, electronics, furniture, solar energy, and the manufacturing of bags, sacks, books, envelopes and folding cartons.

• Web Coating and Extruding — Laminating and coating systems used to manufacture continuous-roll goods in the nonwovens, textile, paper and flexible packaging industries. Key strategic markets include carpet, labels, tapes, textiles, and flexible pouches and wraps.

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2. Advanced Technology Systems

This segment integrates our proprietary product technologies found in progressive stages of a customer’s production process, such as surface preparation, precisely controlled dispensing of material onto the surface, bond testing and X-ray inspection to ensure quality. This segment primarily serves the specific needs of electronics, medical and related high-tech industries.

• Surface Preparation — Automated gas plasma treatment systems used to clean and condition surfaces for the semiconductor, medical and printed circuit board industries. Key strategic markets include contact lenses, electronics, medical instruments and devices, printed circuit boards and semiconductors.

• Dispensing Systems — Controlled manual and automated systems for applying materials in customer processes typically requiring extreme precision and material conservation. These systems include piezoelectric and motionless two-component mixing dispensing systems. Key strategic markets include aerospace, biomaterial application, electronics (cell phones, liquid crystal displays, micro hard drives, microprocessors, printed circuit boards, micro electronic mechanical systems (MEMS), and tablets), general industrial, life sciences (dental and medical devices, including pacemakers and stents), light emitting diodes (LED) and solar energy.

• Fluid Management — Precision engineered, plastic molded, single use fluid connection components used in critical medical and industrial flow control applications. Key strategic markets include anesthesia, cardiovascular and ophthalmic surgery, blood management, pneumatic control systems, water treatment, and analytical instrumentation.

• Bond Testing and Inspection Systems — Bond testing and automated optical and x-ray inspection systems used in the semiconductor and printed circuit board industries. Key strategic markets include electronics (desktop, netbook and notebook computers, digital music players, mobile phones and tablets), light emitting diodes (LED), printed circuit board assemblies and semiconductor packages.

3. Industrial Coating Systems

This segment provides both standard and highly-customized equipment used primarily for applying coatings, paint, finishes, sealants and other materials, and curing and drying of dispensed material. This segment primarily serves the consumer durables market.

• Automotive — Automated and manual dispensing systems used to apply materials in the automotive, heavy truck and recreational vehicle manufacturing industries. Key strategic markets include powertrain components, body assembly and final trim applications.

• Container Coating — Automated and manual dispensing and curing systems used to coat and cure containers. Key strategic markets include beverage containers and food cans.

• Curing and Drying Systems — Ultraviolet equipment used primarily in curing and drying operations for specialty coatings, semiconductor materials and paints. Key strategic markets include electronics, containers, and durable goods products.

• Liquid Finishing — Automated and manual dispensing systems used to apply liquid paints and coatings to consumer and industrial products. Key strategic markets include automotive components, construction, metal shelving and drums.

• Powder Coating — Automated and manual dispensing systems used to apply powder paints and coatings to a variety of metal, plastic and wood products. Key strategic markets include agriculture and construction equipment, appliances, automotive components, home and office furniture, lawn and garden equipment, pipe coating, and wood and metal shelving.

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Manufacturing and Raw Materials

Our production operations include machining and assembly. We manufacture specially designed parts and assemble components into finished equipment. Many components are made in standard modules that can be used in more than one product or in combination with other components for a variety of models. We have principal manufacturing operations in the United States in Amherst, Ohio; Norcross, Swainsboro and Dawsonville, Georgia; Carlsbad, California; Ft. Collins, Colorado; St. Paul, Minnesota; Robbinsville, New Jersey and East Providence, Rhode Island; as well as in Temse, Belgium; Shanghai and Suzhou, China; Luneburg, Germany; Bangalore, India; Maastricht, the Netherlands and in Aylesbury, United Kingdom.

Principal materials used to make our products are metals and plastics, typically in sheets, bar stock, castings, forgings, tubing and pellets. We also purchase many electrical and electronic components, fabricated metal parts, high-pressure fluid hoses, packings, seals and other items integral to our products. Suppliers are competitively selected based on cost, quality and service. All significant raw materials that we use are available through multiple sources.

Senior operating executives supervise an extensive quality control program for our equipment, machinery and systems.

Natural gas and other fuels are our primary energy sources. However, standby capacity for alternative sources is available if needed.

Intellectual Property

We maintain procedures to protect our intellectual property (including patents, trademarks and copyrights) both domestically and internationally. Risk factors associated with our intellectual property are discussed in Item 1A Risk Factors.

Our intellectual property portfolios include valuable patents, trade secrets, know-how, domain names, trademarks and trade names. As of October 31, 2011, we held 380 United States patents and 790 foreign patents and had 187 United States patent applications and 741 foreign patent applications pending, but there is no assurance that any patent application will be issued. We continue to apply for and obtain patent protection for new products on an ongoing basis.

Patents covering individual products extend for varying periods according to the date of filing or grant and legal term of patents in various countries where a patent is obtained. Our current patent portfolio has expiration dates ranging from November 2011 to December 2035. The actual protection a patent provides, which can vary from country to country, depends upon the type of patent, the scope of its coverage, and the availability of legal remedies in each country. We believe, however, that the duration of our patents generally exceeds the life cycles of the technologies disclosed and claimed in the patents.

We believe our trademarks are important assets and we aggressively manage our brands. We also own a number of trademarks in the United States and foreign countries, including registered trademarks for Nordson, Asymtek, ColorMax, Control Coat, Dage, EFD, and Saturn and various common law trademarks which are important to our business, inasmuch as they identify Nordson and our products to our customers. As of October 31, 2011, we had a total of 988 trademark registrations in the United States and in various foreign countries.

We rely upon a combination of nondisclosure and other contractual arrangements and trade secret laws to protect our proprietary rights and also enter into confidentiality and intellectual property agreements with our employees that require them to disclose any inventions created during employment, convey all rights to inventions to us, and restrict the distribution of proprietary information.

We protect and promote our intellectual property portfolio and take those actions we deem appropriate to enforce our intellectual property rights and to defend our right to sell our products. Although in aggregate our intellectual property is important to our operations, we do not believe that the loss of any one patent, trademark, or group of related patents or trademarks would have a material adverse effect on our results of operations or financial position of our overall business.

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Seasonal Variation in Business

Generally, the highest volume of sales occurs in our fourth quarter due in large part to the timing of customers’ capital spending programs. First quarter sales volume is typically the lowest of the year due to customer holiday shutdowns.

Working Capital Practices

No special or unusual practices affect our working capital. However, we generally require advance payments as deposits on customized equipment and systems and, in certain cases, require progress payments during the manufacturing of these products. We have initiated a number of new processes focused on reduction of manufacturing lead times. These initiatives have resulted in lower investment in inventory while maintaining the capability to respond promptly to customer needs.

Customers

We serve a broad customer base, both in terms of industries and geographic regions. In 2011, no single customer accounted for five percent or more of sales.

Backlog

Our backlog of open orders increased to approximately $131,000 at October 31, 2011 from approximately $128,000 at October 31, 2010. The amounts for both years were calculated based upon exchange rates in effect at October 31, 2011. The increase can be traced primarily to acquisitions completed during the year. All orders in the 2011 year-end backlog are expected to be shipped to customers in 2012.

Government Contracts

Our business neither includes nor depends upon a significant amount of governmental contracts or subcontracts. Therefore, no material part of our business is subject to renegotiation or termination at the option of the government.

Competitive Conditions

Our equipment is sold in competition with a wide variety of alternative bonding, sealing, caulking, finishing, coating, testing and inspection, and fluid management techniques. Any production process that requires surface preparation or modification, application of material to a substrate or surface, curing, testing and inspection, or fluid management is a potential use for our equipment.

Many factors influence our competitive position, including pricing, product quality and service. We enjoy a leadership position in our business segments by delivering high-quality, innovative products and technologies, as well as after-the-sale service and technical support. Working with customers to understand their processes and developing the application solutions that help them meet their production requirements also contributes to our leadership position. Our worldwide network of direct sales and technical resources also is a competitive advantage.

Research and Development

Investments in research and development are important to our long-term growth, enabling us to keep pace with changing customer and marketplace needs through the development of new products and new applications for existing products. We place strong emphasis on technology developments and improvements through internal engineering and research teams. Research and development expenses were approximately $26,997 in 2011, compared with approximately $23,835 in 2010 and $25,528 in 2009.

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Environmental Compliance

We are subject to extensive federal, state, local and foreign environmental, safety and health laws and regulations concerning, among other things, emissions to the air, discharges to land and water and the generation, handling, treatment and disposal of hazardous waste and other materials. Under certain of these laws, we can be held strictly liable for hazardous substance contamination of any real property we have ever owned, operated or used as a disposal site or for natural resource damages associated with such contamination. We are also required to maintain various related permits and licenses, many of which require periodic modification and renewal. The operation of manufacturing plants unavoidably entails environmental, safety and health risks, and we could incur material unanticipated costs or liabilities in the future if any of these risks were realized in ways or to an extent that we did not anticipate.

We believe that we operate in compliance, in all material respects, with applicable environmental laws and regulations. Compliance with environmental laws and regulations requires continuing management effort and expenditures. We have incurred, and will continue to incur, costs and capital expenditures to comply with these laws and regulations and to obtain and maintain the necessary permits and licenses. We believe that the cost of complying with environmental laws and regulations will not have a material effect on our earnings, liquidity or competitive position but cannot assure that material compliance-related costs and expenses may not arise in the future. For example, future adoption of new or amended environmental laws, regulations or requirements or newly discovered contamination or other circumstances that could require us to incur costs and expenses that may have a material effect, but cannot be presently anticipated.

We believe that policies, practices and procedures have been properly designed to prevent unreasonable risk of material environmental damage arising from our operations. We accrue for estimated environmental liabilities with charges to expense and believe our environmental accrual is adequate to provide for our portion of the costs of all such known environmental liabilities. Compliance with federal, state and local environmental protection laws during 2011 had no material effect on our capital expenditures, earnings or competitive position. Based upon consideration of currently available information, we believe liabilities for environmental matters will not have a material adverse affect on our financial position, operating results or liquidity, but we cannot assure that material environmental liabilities may not arise in the future.

Employees

As of October 31, 2011, we had 4,094 full- and part-time employees, including 137 at our Amherst, Ohio, facility who are represented by a collective bargaining agreement that expires on November 3, 2013. No material work stoppages have been experienced at any of our facilities during any of the periods covered by this report.

Available Information

Our proxy statement, annual report to the Securities and Exchange Commission (Form 10-K), quarterly reports (Form 10-Q) and current reports (Form 8-K) and amendments to those reports filed or furnished pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 1934 are available free of charge at http://www.nordson.com/investors as soon as reasonably practical after such material is electronically filed with, or furnished to, the SEC. Copies of these reports may also be obtained free of charge by sending written requests to Corporate Communications, Nordson Corporation, 28601 Clemens Road, Westlake, Ohio 44145.

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Item 1A. Risk Factors

In an enterprise as diverse as ours, a wide range of factors could affect future performance. We discuss in this section some of the risk factors that, if they actually occurred, could materially and adversely affect our business, financial condition, value and results of operations. You should consider these risk factors in connection with evaluating the forward-looking statements contained in this Annual Report on Form 10-K because these factors could cause our actual results and financial condition to differ materially from those projected in forward-looking statements.

The significant risk factors affecting our operations include the following:

Changes in United States or international economic conditions could adversely affect the profitability of any of our operations.

In 2011, 25 percent of our revenue was derived from domestic customers, while 75 percent was derived from international customers. Our largest markets include appliance, automotive, construction, container, electronics assembly, food and beverage, furniture, life sciences and medical, light emitting diodes (LED), metal finishing, nonwovens, packaging, paper and paperboard converting and semiconductor. A slowdown in any of these specific end markets could directly affect our revenue stream and profitability.

A portion of our product sales is attributable to industries and markets, such as the semiconductor and metal finishing industries, which historically have been cyclical and sensitive to relative changes in supply and demand and general economic conditions. The demand for our products depends, in part, on the general economic conditions of the industries or national economies of our customers. Downward economic cycles in our customers’ industries or countries may reduce sales of some of our products. It is not possible to predict accurately the factors that will affect demand for our products in the future.

Any significant downturn in the health of the general economy, either globally, regionally or in the markets in which we sell products could have an adverse effect on our revenues and financial performance, resulting in impairment of assets.

Significant movements in foreign currency exchange rates or change in monetary policy may harm our financial results.

We are exposed to fluctuations in foreign currency exchange rates, particularly with respect to the euro, the yen, the pound sterling and the Chinese yuan. Any significant change in the value of the currencies of the countries in which we do business against the United States dollar could affect our ability to sell products competitively and control our cost structure, which could have a material adverse effect on our business, financial condition and results of operations. For additional detail related to this risk, see Item 7A, Quantitative and Qualitative Disclosure About Market Risk.

The majority of our consolidated revenues in 2011 were generated in currencies other than the United States dollar, which is our reporting currency. We recognize foreign currency transaction gains and losses arising from our operations in the period incurred. As a result, currency fluctuations between the United States dollar and the currencies in which we do business have caused and will continue to cause foreign currency transaction and translation gains and losses, which historically have been material and could continue to be material. We cannot predict the effects of exchange rate fluctuations upon our future operating results because of the number of currencies involved, the variability of currency exposures and the potential volatility of currency exchange rates. We take actions to manage our foreign currency exposure, such as entering into hedging transactions, where available, but we cannot assure that our strategies will adequately protect our consolidated operating results from the effects of exchange rate fluctuations.

We also face risks arising from the imposition of exchange controls and currency devaluations. Exchange controls may limit our ability to convert foreign currencies into United States dollars or to remit dividends and other payments by our foreign subsidiaries or customers located in or conducting business in a country imposing controls. Currency devaluations diminish the United States dollar value of the currency of the country instituting the devaluation and, if they occur or continue for significant periods, could adversely affect our earnings or cash flow.

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Failure to retain our existing senior management team or the inability to attract and retain qualified personnel could hurt our business and inhibit our ability to operate and grow successfully.

Our success will continue to depend to a significant extent on the continued service of our executive management team and the ability to recruit, hire and retain other key management personnel to support our growth and operational initiatives and replace executives who retire or resign. Failure to retain our leadership team and attract and retain other important management and technical personnel could place a constraint on our global growth and operational initiatives which could lead to inefficient and ineffective management and operations, which would likely harm our revenues, operations and product development efforts and eventually result in a decrease in profitability.

The inability to continue to develop new products could limit our revenue and profitability.

Innovation is critical to our success. We believe that we must continue to enhance our existing products and to develop and manufacture new products with improved capabilities in order to continue to be a market leader. We also believe that we must continue to make improvements in our productivity in order to maintain our competitive position. Our inability to anticipate, respond to or utilize changing technologies could have a material adverse effect on our business and our consolidated results of operations.

Inability to access capital could impede growth or the repayment or refinancing of existing indebtedness.

The limits imposed on us by the restrictive covenants contained in our credit facilities could prevent us from making acquisitions or cause us to lose access to these facilities.

Our existing credit facilities contain restrictive covenants that limit our ability to, among other things:

• borrow money or guarantee the debts of others;

• use assets as security in other transactions;

• make investments or other restricted payments or distributions;

• change our business or enter into new lines of business;

• sell or acquire assets or merge with or into other companies.

In addition, our credit facilities require us to meet financial ratios, including “total indebtedness” to “consolidated trailing earnings before interest taxes depreciation and amortization” (EBITDA) both as defined in the credit facility, and consolidated trailing EBITDA to consolidated trailing interest expense as defined in the credit facility.

These restrictions could limit our ability to plan for or react to market conditions or meet extraordinary capital needs and could otherwise restrict our financing activities.

Our ability to comply with the covenants and other terms of our credit facilities will depend on our future operating performance. If we fail to comply with such covenants and terms, we will be in default and the maturity of the related debt could be accelerated and become immediately due and payable. We may be required to obtain waivers from our lenders in order to maintain compliance under our credit facilities, including waivers with respect to our compliance with certain financial covenants. If we are unable to obtain necessary waivers and the debt under our credit facilities is accelerated, we would be required to obtain replacement financing at prevailing market rates.

We may need new or additional financing in the future to expand our business or refinance existing indebtedness. If we are unable to access capital on satisfactory terms and conditions, we may not be able to expand our business or meet our payment requirements under our existing credit facilities. Our ability to obtain new or additional financing will depend on a variety of factors, many of which are beyond our control. We may not be able to obtain new or additional financing because we have substantial debt or because we may not have sufficient cash flow to service or repay our existing or future debt. In addition, depending on market conditions and our financial performance, neither debt nor equity financing may be available on satisfactory terms or at all. Finally, as a consequence of worsening financial market conditions, our credit facility providers may not provide the agreed credit if they become undercapitalized.

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Our growth strategy includes acquisitions, and we may not be able to execute on our acquisition strategy or integrate acquisitions successfully.

Our recent historical growth has depended, and our future growth is likely to continue to depend, in part on our acquisition strategy and the successful integration of acquired businesses into our existing operations. We intend to continue to seek additional acquisition opportunities both to expand into new markets and to enhance our position in existing markets throughout the world. We cannot assure, however, that we will be able to successfully identify suitable acquisition opportunities, prevail against competing potential acquirers, negotiate appropriate acquisition terms, obtain financing that may be needed to consummate such acquisitions, complete proposed acquisitions, successfully integrate acquired businesses into our existing operations or expand into new markets. In addition, we cannot assure that any acquisition, once successfully integrated, will perform as planned, be accretive to earnings, or prove to be beneficial to our operations and cash flow.

The success of our acquisition strategy is subject to other risks and uncertainties, including:

• our ability to realize operating efficiencies, synergies or other benefits expected from an acquisition, and possible delays in realizing the benefits of the acquired company or products;

• diversion of management’s time and attention from other business concerns;

• difficulties in retaining key employees, customers or suppliers of the acquired business;

• difficulties in maintaining uniform standards, controls, procedures and policies throughout acquired companies;

• adverse effects on existing business relationships with suppliers or customers;

• the risks associated with the assumption of contingent or undisclosed liabilities of acquisition targets;

• the ability to generate future cash flows or the availability of financing.

In addition, an acquisition could adversely impact our operating performance as a result of the incurrence of acquisition-related debt, acquisition expenses, the amortization of acquisition-acquired assets, or possible future impairments of goodwill or intangible assets associated with the acquisition.

We may also face liability with respect to acquired businesses for violations of environmental laws occurring prior to the date of our acquisition, and some or all of these liabilities may not be covered by environmental insurance secured to mitigate the risk or by indemnification from the sellers from which we acquired these businesses. We could also incur significant costs, including, but not limited to, remediation costs, natural resources damages, civil or criminal fines and sanctions and third-party claims, as a result of past or future violations of, or liabilities associated with environmental laws.

Our inability to protect our intellectual property rights could adversely affect product sales and financial performance.

Difficulties in acquiring and maintaining our intellectual property rights could also adversely affect our business and financial position. Our performance may depend in part on our ability to establish, protect and enforce intellectual property rights with respect to our patented technologies and proprietary rights and to defend against any claims of infringement. These activities involve complex and constantly evolving legal, scientific and factual questions and uncertainties. Our ability to compete effectively with other companies depends in part on our ability to maintain and enforce our patents and other proprietary rights, which are essential to our business. These measures afford only limited protection and may not in all cases prevent our competitors from gaining access to our intellectual property and proprietary information.

9

Litigation has been and may continue to be necessary to enforce our intellectual property rights, to protect our trade secrets and to determine the validity and scope of our proprietary rights. In addition, we may face claims of infringement that could interfere with our ability to use technology or other intellectual property rights that are material to our business operations. If litigation that we initiate is unsuccessful, we may not be able to protect the value of some of our intellectual property. If a claim of infringement against us is successful, we may be required to pay royalties or license fees to continue to use technology or other intellectual property rights that we have been using or we may be unable to obtain necessary licenses from third parties at a reasonable cost or within a reasonable time. If we are unable to timely obtain licenses on reasonable terms, we may be forced to cease selling or using any of our products that incorporate the challenged intellectual property, or to redesign or, in the case of trademark claims, rename our products to avoid infringing the intellectual property rights of third parties. This may not always be possible or, if possible, may be time consuming and expensive. Intellectual property litigation, whether successful or unsuccessful, could be expensive to us and divert some of our resources. Our intellectual property rights may not be as valuable as we believe, which could result in a competitive disadvantage or adversely affect our business and financial performance.

Political conditions in foreign countries in which we operate could adversely affect us.

We conduct our manufacturing, sales and distribution operations on a worldwide basis and are subject to risks associated with doing business outside the United States. In 2011, approximately 75 percent of our total sales were to customers outside the United States. We expect that international operations and United States export sales will continue to be important to our business for the foreseeable future. Both sales from international operations and export sales are subject in varying degrees to risks inherent in doing business outside the United States. Such risks include, but are not limited to, the following:

• risks of economic instability;

• unanticipated or unfavorable circumstances arising from host country laws or regulations;

• restrictions on the transfer of funds into or out of a country;

• currency exchange rate fluctuations;

• difficulties in enforcing agreements and collecting receivables through some foreign legal systems;

• international customers with longer payment cycles than customers in the United States;

• potential negative consequences from changes to taxation policies;

• the disruption of operations from foreign labor and political disturbances;

• the imposition of tariffs, import or export licensing requirements;

• exchange controls or other trade restrictions including transfer pricing restrictions when products produced in one country are sold to an affiliated entity in another country.

Any of these events could reduce the demand for our products, limit the prices at which we can sell our products, or otherwise have an adverse effect on our operating performance.

We could be adversely affected by rapid changes in interest rates.

Any period of unexpected or rapid increase in interest rates may also adversely affect our profitability. At October 31, 2011, we had $319,156 of total debt and notes payable outstanding, of which 60 percent was priced at interest rates that float with the market. A one percent increase in the interest rate on the floating rate debt in 2011 would have resulted in approximately $785 of additional interest expense. A higher level of floating rate debt would increase the exposure to changes in interest rates. For additional detail related to this risk, see Item 7A, Quantitative and Qualitative Disclosure About Market Risk.

Item 1B. Unresolved Staff Comments

None.

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Item 2. Properties

The following table summarizes our principal properties as of October 31, 2011.

Location	Description of Property	Approximate Square Feet
Amherst, Ohio1, 2, 3	A manufacturing, laboratory and office complex		585,000
Norcross, Georgia1	A manufacturing, laboratory and office building		150,000
Dawsonville, Georgia1	A manufacturing, laboratory and office building		134,000
East Providence, Rhode Island2	A manufacturing, warehouse and office building		116,000
Duluth, Georgia1	An office and laboratory building		110,000
Carlsbad, California2	Two manufacturing and office buildings (leased)		88,000
Robbinsville, New Jersey2	A manufacturing, warehouse and office building (leased)		88,000
Swainsboro, Georgia1	A manufacturing building		59,000
Ft. Collins, Colorado2	A manufacturing, warehouse and office building (leased)		42,000
Vista, California2	A manufacturing building (leased)		41,000
St. Paul, Minnesota2	A manufacturing, warehouse and office building (leased)		27,000
Westlake, Ohio	Corporate headquarters		28,000
Luneburg, Germany1	A manufacturing and laboratory building		130,000
Shanghai, China1, 3	A manufacturing, warehouse and office building (leased)		92,000
Erkrath, Germany1,2, 3	An office, laboratory and warehouse building (leased)		63,000
Bangalore, India1, 2, 3	A manufacturing, warehouse and office building		56,000
Shanghai, China1,2, 3	An office and laboratory building		54,000
Temse, Belgium1	A manufacturing, warehouse and office building (leased)		44,000
Tokyo, Japan1, 2, 3	An office, laboratory and warehouse building (leased)		42,000
Aylesbury, U.K.1,2	A manufacturing, warehouse and office building (leased)		36,000
Mexico City, Mexico1, 2, 3	A warehouse and office building (leased)		23,000
Suzhou, China2	A manufacturing, warehouse and office building (leased)		22,000
Lagny Sur Marne, France1, 3	An office building (leased)		17,000
Segrate, Italy1, 3	An office, laboratory and warehouse building (leased)		7,000
Singapore1, 2, 3	A warehouse and office building (leased)		6,000

Business Segment — Property Identification Legend

1 — Adhesive Dispensing Systems

2 — Advanced Technology Systems

3 — Industrial Coating Systems

The facilities listed above have adequate, suitable and sufficient capacity (production and nonproduction) to meet present and foreseeable demand for our products.

Other properties at international subsidiary locations and at branch locations within the United States are leased. Lease terms do not exceed 25 years and generally contain a provision for cancellation with some penalty at an earlier date.

In addition, we lease equipment under various operating and capitalized leases. Information about leases is reported in Note 6 of Notes to Consolidated Financial Statements that can be found in Part II, Item 8 of this document.

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Item 3. Legal Proceedings

We are involved in pending or potential litigation regarding environmental, product liability, patent, contract, employee and other matters arising from the normal course of business. Including the environmental matter discussed below, it is our opinion, after consultation with legal counsel, that resolutions of these matters are not expected to result in a material effect on our financial condition, quarterly or annual operating results or cash flows.

Environmental — We have voluntarily agreed with the City of New Richmond, Wisconsin and other Potentially Responsible Parties to share costs associated with the remediation of the City of New Richmond municipal landfill (the “Site”) and constructing a potable water delivery system serving the impacted area down gradient of the Site. At October 31, 2011 and 2010, our accrual for the ongoing operation, maintenance and monitoring obligation at the Site was $795 and $885, respectively.

The liability for environmental remediation represents management’s best estimate of the probable and reasonably estimable undiscounted costs related to known remediation obligations. The accuracy of our estimate of environmental liability is affected by several uncertainties such as additional requirements that may be identified in connection with remedial activities, the complexity and evolution of environmental laws and regulations, and the identification of presently unknown remediation requirements. Consequently, our liability could be greater than our current estimate. However, we do not expect that the costs associated with remediation will have a material adverse effect on our financial condition or results of operations.

Item 4. Removed and Reserved

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Executive Officers of the Company

Our executive officers as of October 31, 2011, were as follows:

Name	Age		Officer Since		Position or Office with The Company and Business Experience During the Past Five (5) Year Period
Michael F. Hilton		57		2010	President and Chief Executive Officer, 2010 Senior Vice President and General Manager-Electronics and Performance Materials Segment of Air Products and Chemicals, Inc., 2007 Vice President and General Manager-Electronics and Performance Materials Segment of Air Products and Chemicals, Inc., 2006
John J. Keane		50		2003	Senior Vice President, 2005
Peter G. Lambert		51		2005	Senior Vice President, 2010
					Vice President, 2005
Douglas C. Bloomfield		52		2005	Vice President, 2005
Gregory P. Merk		40		2006	Vice President, 2006
Shelly M. Peet		46		2007	Vice President, 2009
					Vice President, Chief Information Officer, 2007
					Director, Corporate Information Services and Chief Information Officer, 2003
Gregory A. Thaxton		50		2007	Vice President, Chief Financial Officer, 2008
					Vice President, Controller, 2007
					Corporate Controller and Chief Accounting Officer, 2006
Robert E. Veillette		59		2007	Vice President, General Counsel and Secretary, 2007
					Secretary and Assistant General Counsel, 2002

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PART II

Item 5. Market for the Company’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Market Information and Dividends

(a) Our common shares are listed on the Nasdaq Global Select Market under the symbol NDSN. As of November 30, 2011, there were 1,698 registered shareholders. The table below is a summary of dividends paid per common share and the range of closing market prices during each quarter of 2011 and 2010.

	Dividend Paid		Common Share Price
Quarters			High		Low
2011:
First	$	.105	$	47.58	$	38.06
Second		.105		58.75		47.56
Third		.105		59.01		48.98
Fourth		.125		50.50		37.21
2010:
First	$	.095	$	31.94	$	26.05
Second		.095		37.96		27.11
Third		.095		36.87		27.39
Fourth		.105		39.88		31.64

Source: NASDAQ OMX

(b) Use of Proceeds. Not applicable.

(c) Issuer Purchases of Equity Securities

	Total Number of Shares Repurchased		Average Price Paid per Share		Total Number of Shares Repurchased as Part of Publicly Announced Plans or Programs(1)		Maximum Number or Approximate Value of Shares That May Yet Be Purchased Under the Plans or Programs(1)
August 1, 2011 to August 31, 2011		539	$	43.40		539		939
September 1, 2011 to September 30, 2011		1,186	$	41.73		1,186	$	89,664
October 1, 2011 to October 31, 2011		448	$	41.84		448	$	70,905
Total		2,173				2,173

(1) In May 2011, the board of directors approved a stock repurchase program of up to 2,000 shares. This program was completed in September 2011, and the board of directors approved an additional repurchase program of up to $100,000. Uses for repurchased shares include the funding of benefit programs including stock options, nonvested stock and 401(k) matching. Shares purchased are treated as treasury shares until used for such purposes. The repurchase programs are being funded using working capital and proceeds from borrowings under our credit facilities.

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Performance Graph

The following is a graph that compares the five-year cumulative return, calculated on a dividend-reinvested basis, from investing $100 on November 1, 2006 in Nordson common shares, the S&P MidCap 400 Index, the S&P 500 Industrial Machinery Index, and the S&P MidCap 400 Industrial Machinery Index.

	Period Ending October 31
Company/Market/Peer Group	2006	2007	2008	2009	2010	2011
Nordson Corporation	$100.00	$115.32	$80.62	$117.69	$176.15	$211.33
S&P MidCap 400	$100.00	$117.02	$74.35	$  87.87	$112.15	$121.74
S&P 500 Ind. Machinery	$100.00	$125.19	$71.65	$  95.87	$122.67	$126.92
S&P MidCap 400 Ind. Machinery	$100.00	$129.99	$75.26	$  93.04	$120.92	$137.53

Source: Morningstar

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Item 6. Selected Financial Data

Five-Year Summary

	2011		2010		2009			2008		2007
(In thousands except for per-share amounts)
Operating Data(a)
Sales	$	1,233,159	$	1,041,551	$	819,165		$	1,124,829	$	993,649
Cost of sales		484,727		419,937		350,239			494,394		439,804
% of sales		39		40		43			44		44
Selling and administrative expenses		429,489		384,752		337,294			434,476		401,294
% of sales		35		37		41			39		40
Severance and restructuring costs		1,589		2,029		16,396			5,621		409
Goodwill and long-lived asset impairments		1,811		—		243,043			—		—
Operating profit (loss)		315,543		234,833		(127,807	)		190,338		152,142
% of sales		26		23		(16	)		17		15
Net income (loss)		222,364		168,048		(160,055	)		117,504		90,692
% of sales		18		16		(20	)		10		9
Financial Data(a)
Working capital	$	294,796	$	259,117	$	190,249		$	180,317	$	180,010
Net property, plant and equipment and other non-current assets		827,493		535,323		544,003			782,356		801,916
Total invested capital(b)		853,071		567,323		508,989			847,253		846,911
Total assets		1,304,450		986,354		890,674			1,166,669		1,211,840
Long-term liabilities		550,966		289,368		364,276			388,561		450,809
Shareholders’ equity		571,323		505,072		369,976			574,112		531,117
Return on average invested capital — %(c)		35		32		10	(d)		15		14
Return on average shareholders’ equity — %(e)		39		40		13	(f)		20		19
Per-Share Data(a)(g)
Average number of common shares		67,616		67,610		67,129			67,492		67,094
Average number of common shares and common share equivalents		68,425		68,442		67,129			68,613		68,363
Basic earnings (loss) per share	$	3.29	$	2.49	$	(2.38	)	$	1.74	$	1.35
Diluted earnings (loss) per share		3.25		2.46		(2.38	)		1.71		1.33
Dividends per common share		0.44		0.39		0.36875			0.365		0.35
Book value per common share		8.71		7.44		5.49			8.52		7.88

(a) See accompanying Notes to Consolidated Financial Statements.

(b) Notes payable, plus current portion of long-term debt, plus long-term debt, minus cash and marketable securities, plus shareholders’ equity.

(c) Net income (loss), plus after-tax interest expense on borrowings as a percentage of average quarterly borrowings (net of cash) plus average quarterly shareholders’ equity over five accounting periods.

(d) The percentage for 2009 excludes goodwill and long-lived asset impairment charges. Including these charges, the return on average invested capital for 2009 would have been negative 21 percent.

(e) Net income (loss) as a percentage of average quarterly shareholders’ equity over five accounting periods.

(f) The percentage for 2009 excludes goodwill and long-lived asset impairment charges. Including these charges, the return on average shareholder equity for 2009 would have been negative 28 percent.

(g) Amounts adjusted for 2-for-1 stock split effective April 12, 2011.

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Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations

NOTE REGARDING AMOUNTS AND FISCAL YEAR REFERENCES

In this annual report, all amounts related to United States dollars and foreign currency and to the number of Nordson Corporation’s common shares, except for per share earnings and dividend amounts, are expressed in thousands.

Unless otherwise noted, all references to years relate to our fiscal year ending October 31.

Critical Accounting Policies and Estimates

Our consolidated financial statements and accompanying notes have been prepared in accordance with accounting principles generally accepted in the United States. The preparation of these financial statements requires management to make estimates, judgments and assumptions that affect reported amounts of assets, liabilities, revenues and expenses. On an ongoing basis, we evaluate the accounting policies and estimates that are used to prepare financial statements. We base our estimates on historical experience and assumptions believed to be reasonable under current facts and circumstances. Actual amounts and results could differ from these estimates used by management.

Certain accounting policies that require significant management estimates and are deemed critical to our results of operations or financial position are discussed below. On a regular basis, critical accounting policies are reviewed with the Audit Committee of the board of directors.

Revenue Recognition — Most of our revenues are recognized upon shipment, provided that persuasive evidence of an arrangement exists, the sales price is fixed or determinable, collectibility is reasonably assured, and title and risk of loss have passed to the customer. In October 2009, the FASB issued an accounting standard update on multiple deliverable arrangements, which we adopted on November 1, 2010. This accounting standard update establishes a relative selling price hierarchy for determining the selling price of a deliverable based on vendor specific objective evidence (VSOE) if available, third-party evidence (TPE) if vendor-specific objective evidence is not available, or best estimated selling price (BESP) if neither vendor-specific objective evidence nor third-party evidence is available. Our multiple deliverable arrangements include installation, installation supervision, training, and spare parts, which tend to be completed in a short period of time, at an insignificant cost, and utilizing skills not unique to us, and, therefore, are typically regarded as inconsequential or perfunctory. Revenue for undelivered items is deferred and included within accrued liabilities in the accompanying balance sheet. Revenues deferred in 2011, 2010 and 2009 were not material. The requirements of this standard did not significantly change our units of accounting or how we allocate arrangement consideration to various units of accounting. The adoption of this standard had no material impact on our financial position or results of operations.

Goodwill — Goodwill is the excess of purchase price over the fair value of tangible and identifiable intangible net assets acquired in various business combinations. Goodwill is not amortized but is tested for impairment annually at the reporting unit level, or more often if indications of impairment exist. Our reporting units are the Adhesive Dispensing Systems segment, the Industrial Coating Systems segment and one level below the Advanced Technology Systems segment. 

The goodwill impairment test is a two-step process. In the first step, performed in the fourth quarter of each year, we calculate a reporting unit’s fair value using a discounted cash flow valuation methodology and compare the result against the reporting unit’s carrying value of net assets. If the carrying value of a reporting unit exceeds its fair value, then a second step is performed to determine if goodwill is impaired. In step one, the assumptions used for discounted cash flow, revenue growth, operating margin, and working capital turnover are based on general management’s strategic plans tempered by performance trends and reasonable expectations about those trends. Terminal value calculations employ a published formula known as the “Gordon Growth Model Method” that essentially captures the present value of perpetual cash flows beyond the last projected period assuming a constant Weighted Average Cost of Capital methodology (WACC) and growth rate. For each reporting unit, sensitivity calculations vary the discount and terminal growth rates in order to provide a range of assurance that our expected assumptions are fair for detecting impairment.

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Discount rates were developed using a WACC methodology. The WACC represents the blended average required rate of return for equity and debt capital based on observed market return data and company specific risk factors. For 2011, the discount rates used ranged from 10 percent to 19 percent depending upon the reporting unit’s size, end market volatility, and projection risk. The calculated internal rate of return for the step one consolidated valuation was 11.3 percent, the same as the calculated WACC for total Nordson.

To test the reasonableness of the discounted cash flow valuations, we performed the control premium test, which compares the sum of the fair values calculated for our reporting units (net of debt) to the market value of equity. The control premium was negative 11 percent as of the test date of August 1, 2011 and 0 percent as of our year-end of October 31, 2011. These comparisons indicated that the discounted cash flow valuation was reasonable. In addition, indications of value derived for each reporting unit using the market approach reconciled reasonably with the results of the discounted cash flow approach.

In 2011 and 2010, the results of our step one testing indicated no impairment; therefore, the second step of impairment testing was not necessary.

In 2009, we determined that the second step of impairment testing was necessary. In the second step, a hypothetical purchase price allocation of the reporting unit’s assets and liabilities is performed using the fair value calculated in step one. The difference between the fair value of the reporting unit and the hypothetical fair value of assets and liabilities is the implied goodwill amount. Impairment is recorded if the carrying value of the reporting unit’s goodwill is higher than its implied goodwill. Based upon the results of our impairment testing, we recognized an impairment charge for a reduction in the carrying value of goodwill in the amount of $232,789, relating to six reporting units as follows: Dage $166,916, Picodostec $7,530, YESTech $26,149, March Plasma Systems $16,449, UV Curing $12,129, and Industrial Coating Systems $3,616.

The excess of fair value (FV) over carrying value (CV) was compared to the carrying value for each reporting unit. Based on the results shown in the table below and based on our measurement date of August 1, 2011, our conclusion is that no indicators of impairment exist in 2011. Potential events or circumstances, such as a sustained downturn in global economies, could have a negative effect on estimated fair values.

	WACC			Excess of FV over CV			Goodwill
Adhesive Dispensing		10.0	%		792	%	$	42,427
Asymtek		13.5	%		2939	%	$	15,151
EFD		12.0	%		92	%	$	297,632
Dage and YESTech		19.0	%		54	%	$	14,397

We acquired Value Plastics, Inc (“Value Plastics”) on August 26, 2011, subsequent to the measurement date for impairment testing. Determination of the preliminary fair value associated with this acquisition was completed with the assistance of an independent valuation specialist on October 5, 2011. Since the date of valuation, no events or changes in circumstances have occurred that would more likely than not reduce the fair value of Value Plastics below its carrying value. For future valuation purposes, Value Plastics will be a component of EFD.

Other Long-Lived Assets — Our test for recoverability of long-lived depreciable and amortizable assets uses undiscounted cash flows. Long-lived assets are grouped at the lowest level for which there are identifiable cash flows. The total carrying value of long-lived assets for each reporting unit has been compared to the forecasted cash flows of each reporting unit’s long-lived assets being tested. Cash flows have been defined as earnings before interest, taxes, depreciation, and amortization, less annual maintenance capital spending.

Estimates of future cash flows used to test the recoverability of a long-lived asset (asset group) are based on the remaining useful life of the asset. We believe that the relative value of long-lived assets within each reporting unit is a reasonable proxy for the relative importance of the assets in the production of cash flow. To get to a reasonable forecast period, the aggregate net book value of long-lived assets was divided by the current depreciation and amortization value to arrive at a blended remaining useful life. Our calculations for 2011 showed the undiscounted aggregate value of cash flows over the remaining useful life for each reporting unit was greater than the respective carrying value of the long-lived assets within each reporting unit, so no impairment charges were recognized.

18

Inventories — Inventories are valued at the lower of cost or market. Cost was determined using the last-in, first-out (LIFO) method for 26 percent of consolidated inventories at October 31, 2011, and 25 percent at October 31, 2010, with the first-in, first-out (FIFO) method used for the remaining inventory. On an ongoing basis, inventory is tested for technical obsolescence, as well as for future demand and changes in market conditions. We have historically maintained inventory reserves to reflect those conditions when the cost of inventory is not expected to be recovered. Reserves are also maintained for inventory used for demonstration purposes. The inventory reserve balance was $16,050, $16,802 and $15,740 at October 31, 2011, 2010 and 2009, respectively.

Pension Plans and Postretirement Medical Plans — The measurement of liabilities related to our pension plans and postretirement medical plans is based on management’s assumptions related to future factors, including interest rates, return on pension plan assets, compensation increases, mortality and turnover assumptions, and health care cost trend rates.

The weighted-average discount rate used to determine the present value of our domestic pension plan obligations was 4.46 percent at October 31, 2011 and 5.21 percent at October 31, 2010. The discount rate for these plans, which comprised 79 percent of the worldwide pension obligations at October 31, 2011, was based on quality fixed income investments with a duration period approximately equal to the period over which pension obligations are expected to be settled. The weighted-average discount rate used to determine the present value of our various international pension plan obligations was 4.43 percent at October 31, 2011, compared to 4.17 percent at October 31, 2010. The discount rates used for the international plans were determined by using quality fixed income investments with a duration period approximately equal to the period over which pension obligations are expected to be settled.

In determining the expected return on plan assets, we consider both historical performance and an estimate of future long-term rates of return on assets similar to those in our plans. We consult with and consider the opinions of financial and actuarial experts in developing appropriate return assumptions. The expected rate of return (long-term investment rate) on domestic pension assets used to determine net benefit costs was 8.25 percent in 2011 and 8.51 percent in 2010. The average expected rate of return on international pension assets used to determine net benefit costs was 4.84 percent in 2011 and 4.85 percent in 2010.

The assumed rate of compensation increases used to determine the present value of our domestic pension plan obligations was 3.20 percent at October 31, 2011 and 3.30 percent at October 31, 2010. The assumed rate of compensation increases used to determine the present value of our international pension plan obligations was 3.16 percent at October 31, 2011, compared to 3.21 percent at October 31, 2010.

Annual expense amounts are determined based on the discount rate used at the end of the prior year. Differences between actual and assumed investment returns on pension plan assets result in actuarial gains or losses that are amortized into expense over a period of years.

Economic assumptions have a significant effect on the amounts reported. The effect of a one percent change in the discount rate, expected return on assets and compensation increase is shown in the table below. Bracketed numbers represent decreases in expense and obligation amounts.

	United States						International
	1% Point Increase			1% Point Decrease			1% Point Increase			1% Point Decrease
Discount rate:
Effect on total service and interest cost components in 2011	$	(3,107	)	$	3,696		$	(324	)	$	405
Effect on pension obligation as of October 31, 2011	$	(34,776	)	$	43,229		$	(11,917	)	$	13,847
Expected return on assets:
Effect on total service and interest cost components in 2011	$	(1,889	)	$	1,888		$	(302	)	$	301
Effect on pension obligation as of October 31, 2011	$	—		$	—		$	—		$	—
Compensation increase:
Effect on total service and interest cost components in 2011	$	2,816		$	(2,291	)	$	462		$	(420	)
Effect on pension obligation as of October 31, 2011	$	14,649		$	(12,040	)	$	8,575		$	(7,062	)

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With respect to the domestic postretirement medical plan, the discount rate used to value the benefit obligation decreased from 5.25 percent at October 31, 2010 to 4.50 percent at October 31, 2011. The annual rate of increase in the per capita cost of covered benefits (the health care cost trend rate) is assumed to be 9.36 percent in 2012, decreasing gradually to 5.00 percent in 2016.

For the international postretirement plan, the discount rate used to value the benefit obligation was 5.85 percent at October 31, 2011 and 5.75 percent at October 31, 2010. The annual rate of increase in the per capita cost of covered benefits (the health care cost trend rate) is assumed to be 7.00 percent in 2012, decreasing gradually to 3.50 percent in 2031.

The discount rate and the health care cost trend rate assumptions have a significant effect on the amounts reported. For example, a one-percentage point change in the discount rate and assumed health care cost trend rate would have the following effects:

	United States						International
	1% Point Increase			1% Point Decrease			1% Point Increase			1% Point Decrease
Discount rate:
Effect on total service and interest cost components in 2011	$	(628	)	$	753		$	(9	)	$	11
Effect on postretirement obligation as of October 31, 2011	$	(10,119	)	$	12,871		$	(135	)	$	181
Health care trend rate:
Effect on total service and interest cost components in 2011	$	871		$	(688	)	$	19		$	(14	)
Effect on postretirement obligation as of October 31, 2011	$	11,804		$	(9,476	)	$	174		$	(132	)

Employees hired after January 1, 2002, are not eligible to participate in the domestic postretirement medical plan.

Pension and postretirement expenses in 2012 are expected to be approximately $7,000 higher than 2011, primarily due to changes in the discount rate, expected rate of return on assets and changes in demographic assumptions.

Financial Instruments — Assets, liabilities and commitments that are to be settled in cash and are denominated in foreign currencies are sensitive to changes in currency exchange rates. We enter into foreign currency forward contracts, which are derivative financial instruments, to reduce the risk of foreign currency exposures resulting from the collection of receivables, payables and loans denominated in foreign currencies. The maturities of these contracts are usually less than 90 days. Forward contracts are not designated as hedging instruments and therefore are marked to market each accounting period, and the resulting gains or losses are included in “other-net” within other income (expense) in the Consolidated Statement of Income.

Warranties — We provide customers with a product warranty that requires us to repair or replace defective products within a specified period of time (generally one year) from the date of delivery or first use. An accrual is recorded for expected warranty costs for products shipped through the end of each accounting period. In determining the amount of the accrual, we rely primarily on historical warranty claims. Amounts charged to the warranty reserve were $7,217, $6,068 and $3,824 in 2011, 2010 and 2009, respectively. The reserve balance was $6,528, $5,242 and $4,587 at October 31, 2011, 2010 and 2009, respectively.

Long-Term Incentive Plan (LTIP) — Under the long-term incentive plan, executive officers and selected other key employees receive share awards based solely on corporate performance measures over three-year performance periods. Awards vary based on the degree to which corporate performance equals or exceeds predetermined threshold, target and maximum performance levels at the end of a performance period. No award will occur unless certain threshold performance objectives are equaled or exceeded. The amount of compensation expense is based upon current performance projections for each three-year period and the percentage of the requisite service that has been rendered. The calculations are also based upon the grant date fair value determined using the closing market price of common stock at the grant date, reduced by the implied value of dividends not to be paid. Awards are recorded as capital in excess of stated value in shareholders’ equity. The amount recorded at October 31, 2011 for the plans originating in 2009, 2010 and 2011 was $6,081.

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Compensation expense attributable to all LTIP performance periods for executive officers and selected other key employees for 2011 and 2010 was $4,067 and $3,879, respectively. There was $5,014 credited to expense in 2009 due to economic effects.

2011 and 2010

Sales — Worldwide sales for 2011 were $1,233,159, an increase of 18.4 percent from 2010 sales of $1,041,551. Sales volume increased 15.2 percent, and favorable currency effects caused by the weaker U.S. dollar increased sales by 3.2 percent. Three acquisitions were made during 2011; Micromedics, Inc. (“Micromedics”) and Value Plastics, which were included within the Advanced Technology Systems segment, and Constructiewerkhuizen G. Verbruggen NV (“Verbruggen”), which was included within the Adhesive Systems segment. The effect on sales volume of these acquisitions, less sales associated with UV graphic arts and lamps product lines divested in 2010, was less than one percent.

As used throughout this Form 10-K, geographic regions include the Americas (Canada, Mexico and Central and South America), Asia Pacific (excluding Japan), Europe, Japan, and the United States.

Sales of the Adhesive Dispensing Systems segment were $611,911 in 2011, an increase of $86,621, or 16.5 percent, from 2010 sales of $525,290. The increase was the result of a sales volume increase of 12.1 percent and favorable currency effects that increased sales by 4.4 percent. The sales volume increase generated by the Verbruggen acquisition was less than one percent. Sales volume increased in all geographic regions and was particularly strong in the Americas region. Sales increased in both consumer non-durable and consumer durable end markets.

Sales of the Advanced Technology Systems segment were $438,634 in 2011, an increase of $69,185, or 18.7 percent, from 2010 sales of $369,449. The increase was the result of a sales volume increase of 17.0 percent and favorable currency effects that increased sales by 1.7 percent. Within the segment, volume increases occurred in all geographic regions and were most pronounced in the United States. The sales volume increase generated by the Micromedics and Value Plastics acquisitions was three percent; however, this was offset by two percent resulting from the UV graphic arts and lamps product lines divested in 2010. Higher demand for consumer electronics drove the sales increase within this segment.

In 2011, sales of the Industrial Coating Systems segment were $182,614, an increase of $35,802, or 24.4 percent, from 2010 sales of $146,812. The increase was the result of a sales volume increase of 21.4 percent and favorable currency effects that increased sales by 3.0 percent. Sales volume increased in all geographic regions and was most pronounced in the Asia Pacific and Americas regions. Within this segment, sales increased across all product lines.

Sales outside the United States accounted for 74.7 percent of our sales in 2011, up from 73.7 percent last year. Sales increased in all five geographic regions in which we operate. In the United States, sales were $312,328 in 2011, an increase of 14.1 percent from 2010. In the Americas, sales were $102,077, up 30.8 percent from 2010. Sales volume increased 27.0 percent, and favorable currency effects increased sales by 3.8 percent. In Europe, sales were $390,319 in 2011, an increase of 16.1 percent from 2010. Sales volume increased 12.0 percent, and favorable currency effects increased sales by 4.1 percent. In Japan, sales were $111,003, up 19.0 percent from 2010. Sales volume increased 9.2 percent, and favorable currency effects added 9.8 percent. In Asia Pacific, sales were $317,432 in 2011, an increase of 21.9 percent from 2010. Sales volume increased 19.0 percent, and favorable currency effects added 2.9 percent.

It is estimated that the effect of pricing on total revenue was neutral relative to 2010.

Operating profit — Cost of sales in 2011 were $484,727, up 15.4 percent from 2010. The increase compared to 2010 is due to increased sales volume. Gross margins, expressed as a percentage of sales, increased to 60.7 percent in 2011 from 59.7 percent in 2010. The gross margin percentage increase in 2011 was due to higher absorption of fixed overhead costs, low-cost sourcing, more profitable product line mix and favorable currency effects.

Selling and administrative expenses, excluding severance and restructuring costs, were $429,489 in 2011, an increase of $44,737, or 11.6 percent, from 2010. The increase was largely due to the effects of acquisitions, a

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$3,120 fee paid to withdraw from a multiemployer employee pension fund in Japan, and higher incentive compensation expenses resulting from a higher level of business activity in 2011. In addition, currency translation effects increased selling and administrative expenses by 2.6 percent. Selling and administrative expenses as a percentage of sales decreased to 34.8 percent in 2011 from 36.9 percent in 2010, due to the higher level of sales and the favorable effects of restructuring activities.

In 2011, restructuring initiatives were announced in the Adhesive Dispensing Systems segment that resulted in severance costs and other termination fees of $1,589. In 2008, a cost reduction program that involved a combination of non-workforce related efficiencies and workforce reductions primarily in the United States and Europe was announced. Total severance and related costs of these actions were $2,029 in 2010, which were recorded in the Corporate segment.

As a result of the 2011 Adhesive Dispensing Systems segment restructuring initiatives, three facilities were written down to their fair value based on third-party appraisals. Total impairment charges for the three facilities were $1,811.

Operating profit as a percent of sales was 25.6 percent in 2011 compared to 22.5 percent in 2010. The increase was primarily due to higher sales volume supported by a more efficient cost structure.

Segment operating margins in 2011 and 2010 were as follows:

Segment	2011			2010
Adhesive Dispensing Systems		34.4	%		31.7	%
Advanced Technology Systems		26.2	%		22.8	%
Industrial Coating Systems		14.8	%		9.9	%

Operating capacity for each of our segments can support fluctuations in order activity without significant changes in operating costs. Also, currency translation affects reported operating margins. Operating margins for each segment were favorably impacted by a weaker dollar during the year as compared to 2010.

Operating profit as a percent of sales for the Adhesive Dispensing Systems segment increased to 34.4 percent in 2011 from 31.7 percent in 2010. The increase was primarily due to higher sales volume supported by a more efficient cost structure. Operating profit for 2011 included impairment losses of $1,811 on three facilities that were written down to their fair value and severance costs and other termination fees of $1,589.

Operating profit as a percent of sales for the Advanced Technology Systems segment was 26.2 percent in 2011 compared to 22.8 percent in 2010. The current year included charges of $3,003 related to short-term inventory purchase accounting adjustments. The operating profit increase was primarily due to higher sales volume supported by a more efficient cost structure.

Operating profit as a percent of sales for the Industrial Coating Systems segment was 14.8 percent in 2011 compared to 9.9 percent of sales in 2010. The increase was primarily due to higher sales volume supported by a more efficient cost structure.

Interest and other income (expense) — Interest expense in 2011 was $5,069, a decrease of $1,194, or 19.1 percent, from 2010. The decrease was primarily due to lower borrowing levels and lower interest rates in 2011. Other income in 2011 was $3,518 compared to $1,930 in 2010. Included in these amounts were foreign currency gains of $2,200 in 2011 and $1,221 in 2010.

Income taxes — Income tax expense in 2011 was $92,197, or 29.3 percent of pre-tax income, as compared to $63,271, or 27.4 percent of pre-tax income in 2010.

Income tax expense for 2011 includes a benefit of $2,027 from a reduction in unrecognized tax benefits, primarily related to settlements with tax authorities. In December 2010, the U.S. Congress passed and the President signed the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010, which provided retroactive reinstatement of a research credit. As a result, income tax expense for 2011 includes a tax benefit of $1,580 related to research credit generated in 2010.

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The 2010 effective tax rate was positively impacted by a tax benefit of $10,243 from the write-off of the tax basis in our UV graphics arts and lamps product lines. The 2010 tax rate was also positively impacted by the consolidation of certain operations and legal entities, resulting in a $3,616 tax benefit, and by the utilization of foreign operating tax loss carryforwards.

The 2010 effective rate was negatively impacted by an additional tax charge of $5,249 resulting from the enactment of the Patient Protection and Affordable Care Act and the subsequent enactment of the Health Care and Education Reconciliation Act of 2010. This charge was due to a reduction in the value of a deferred tax asset as a result of a change to the tax treatment associated with Medicare Part D subsidies.

Net income (loss) — Net income was $222,364, or $3.25 per diluted share, in 2011, compared to net income of $168,048, or $2.46 per diluted share in 2010.

Recently issued accounting standards — In October 2009, the Financial Accounting Standards Board (“FASB”) issued authoritative guidance on multiple-deliverable revenue arrangements that addresses the unit of accounting for arrangements involving multiple deliverables. The guidance also addresses how arrangement consideration should be allocated to separate units of accounting, when applicable, and expands the disclosure requirements for multiple-deliverable arrangements. We adopted this standard on November 1, 2010, and there were no material changes to our revenue deferral amounts.

In December 2010, the FASB issued guidance that provides requirements over pro forma revenue and earnings disclosures related to business combinations. This guidance will require disclosure of revenue and earnings of the combined business as if the combination occurred at the start of the prior annual reporting period only. This guidance is effective beginning in 2012, and is not expected to have a material impact on the consolidated financial statements.

In May 2011, the FASB clarified the guidance around fair value measurements and disclosures. The guidance requires the disclosure of quantitative information about unobservable inputs used, a description of the valuation processes used, and a qualitative discussion around the sensitivity of the measurements. It will be effective beginning in the second quarter of 2012. We do not expect the adoption will have a significant impact on our consolidated financial statements.

In June 2011, the FASB issued an Accounting Standards Update (ASU) that amends current comprehensive income guidance. This ASU eliminates the option to present the components of other comprehensive income as part of the statement of shareholders’ equity. Instead, comprehensive income must be reported in either a single continuous statement of comprehensive income which contains two sections, net income and other comprehensive income, or in two separate but consecutive statements. This guidance will be effective beginning in 2013 and is not expected to impact our consolidated financial statements, as it only results in a change in the format of presentation.

In September 2011, the FASB issued guidance amending the way companies test for goodwill impairment. Companies will have the option to first assess qualitative factors to determine whether the existence of events or circumstances leads to a determination that it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If, after assessing the totality of events or circumstances, companies determine it is more likely than not that the fair value of a reporting unit is greater than its carrying amount, then performing the two-step impairment test is unnecessary. This guidance is effective for interim and annual periods beginning after December 15, 2011, with early adoption permitted. We do not expect the adoption will have a significant impact on our consolidated financial statements.

2010 and 2009

Sales — Worldwide sales for 2010 were $1,041,551, an increase of 27.1 percent from 2009 sales of $819,165. Sales volume increased 25.5 percent, and favorable currency effects caused by the weaker U.S. dollar increased sales by 1.6 percent.

As used throughout this Form 10-K, geographic regions include the Americas (Canada, Mexico and Central and South America), Asia Pacific (excluding Japan), Europe, Japan, and the United States.

Sales of the Adhesive Dispensing Systems segment were $525,290 in 2010, an increase of $64,544, or 14.0 percent, from 2009 sales of $460,746. The increase was the result of a sales volume increase of 12.0 percent and favorable currency effects that increased sales by 2.0 percent. Sales volume increased in all geographic regions and was particularly strong in Asia Pacific.

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Sales of the Advanced Technology Systems segment were $369,449 in 2010, an increase of $127,202, or 52.5 percent, from 2009 sales of $242,247. The increase was the result of a sales volume increase of 51.9 percent and favorable currency effects that increased sales by 0.6 percent. Within the segment, significant volume increases occurred in all geographic regions and were most pronounced in Asia Pacific due to higher demand in consumer electronics end markets.

In 2010, sales of the Industrial Coating Systems segment were $146,812, an increase of $30,640, or 26.4 percent, from 2009 sales of $116,172. The increase was the result of a sales volume increase of 24.6 percent and favorable currency effects that increased sales by 1.8 percent. Sales volume, which increased in all geographic regions except Japan, was most pronounced in Asia Pacific.

Sales outside the United States accounted for 73.7 percent of our sales in 2010, up from 71.4 percent last year. Sales increased in all five geographic regions in which we operate. In the United States, sales were $273,652 in 2010, an increase of 16.9 percent from 2009. In the Americas, sales were $78,058 up 28.7 percent from 2009. Sales volume increased 21.1 percent, and favorable currency effects increased sales by 7.6 percent. In Europe, sales were $336,119 in 2010, an increase of 14.0 percent from 2009. Sales volume increased 14.4 percent, and unfavorable currency effects reduced sales by 0.4 percent. In Japan, sales were $93,318, up 14.3 percent from 2009. Sales volume increased 8.4 percent, and favorable currency effects added 5.9 percent. In Asia Pacific, sales were $260,404 in 2010, an increase of 76.1 percent from 2009. Sales volume increased 73.0 percent, and favorable currency effects added 3.1 percent.

It is estimated that the effect of pricing on total revenue was neutral relative to 2009.

Operating profit — Cost of sales in 2010 were $419,937, up 19.9 percent from 2009. The increase compared to 2009 is due to increased sales volume. Gross margins, expressed as a percentage of sales, increased to 59.7 percent in 2010 from 57.2 percent in 2009. The gross margin percentage increase in 2010 was due to higher absorption of fixed overhead costs, the impact of cost reduction activities taken in 2009, more profitable product line mix and favorable currency effects.

Selling and administrative expenses, excluding severance and restructuring costs, were $384,752 in 2010, an increase of $47,458, or 14.1 percent, from 2009. The increase was largely due to higher incentive compensation expenses resulting from a higher level of business activity in 2010. In addition, currency translation effects increased selling and administrative costs by 1.5 percent. Selling and administrative expenses as a percentage of sales decreased to 36.9 percent in 2010 from 41.2 percent in 2009 due to the higher level of sales and the favorable effects of restructuring activities.

On June 30, 2010, we sold our graphic arts and lamps product lines to Baldwin Technology Company, Inc. These product lines were reported in the Advanced Technology Systems segment. We recognized a pretax loss on disposition of $357, which is reflected in selling and administrative expenses in the Consolidated Statement of Income. Results of operations and net assets of the divested product lines were immaterial to our consolidated results of operations, financial position and cash flows.

In September 2008, a cost reduction program that involved a combination of non-workforce related efficiencies and workforce reductions primarily in the United States and Europe was announced. In response to the continuing economic crisis, additional cost reduction actions were taken in 2009 and 2010. Total severance and related costs of these actions were $5,561 in 2008 and $16,396 in 2009 and $2,029 in 2010. Severance costs were recorded in the Corporate segment.

In 2009, we recognized goodwill and long-lived asset impairment charges of $243,043. Of this amount, $232,789 related to goodwill, $8,282 related to indefinite lived trade name assets and $1,972 related to other long-lived assets. Additional information regarding these charges is described in the Critical Accounting Policies and Estimates section.

Operating profit as a percent of sales was 22.5 percent in 2010 compared to negative 15.6 percent in 2009. Goodwill and long-lived impairment charges accounted for 29.7 percent of the 38.1 percent change. The remainder of the change was primarily due to sales mix yielding higher gross margins, effects of cost reduction activities taken in 2008 and 2009 that resulted in operating costs increasing at a slower rate than sales, and higher severance and restructuring costs in 2009.

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Segment operating margins in 2010 and 2009 were as follows:

Segment	2010			2009
Adhesive Dispensing Systems		31.7	%		27.7	%
Advanced Technology Systems		22.8	%		(88.7	)%
Industrial Coating Systems		9.9	%		(5.9	)%

Operating capacity for each of our segments can support fluctuations in order activity without significant changes in operating costs. Also, currency translation affects reported operating margins. In 2010, operating margins for each segment were favorably impacted by a weaker dollar during the year as compared to 2009.

Operating profit as a percent of sales for the Adhesive Dispensing Systems segment increased to 31.7 percent in 2010 from 27.7 percent in 2009. The increase was primarily due to higher gross margin percentages and to sales volume increasing at a higher rate than selling and administrative expenses.

Operating profit as a percent of sales for the Advanced Technology Systems segment was 22.8 percent in 2010 compared to an operating loss of 88.7 percent of sales in 2009. The change was due primarily to goodwill and long-lived asset impairment charges of $239,427 in 2009. Excluding these impairment charges, operating margin was 10.2 percent. The increase from 10.2 percent to 22.8 percent was primarily due to sales volume increasing at a higher rate than selling and administrative expenses.

Operating profit as a percent of sales for the Industrial Coating Systems segment was 9.9 percent in 2010 compared to an operating loss of 5.9 percent of sales in 2009. Operating profit in 2009 included a goodwill impairment charge of $3,616. Excluding this charge, operating margin was negative 2.8 percent in 2009. The profitability improvement in 2010 was primarily due to higher gross margin percentages and to sales volume increasing at a higher rate than selling and administrative expenses.

Interest and other income (expense) — Interest expense in 2010 was $6,263, a decrease of $1,508, or 19.4 percent, from 2009. The decrease was primarily due to lower borrowing levels in 2010. Interest income was $819 in 2010, up from $492 in 2009. The increase was primarily due to a higher level of short-term investments in 2010. Other income in 2010 was $1,930 compared to $7,895 in 2009. Included in these amounts were foreign currency gains of $1,221 in 2010 and $1,571 in 2009. Other income in 2009 also included a $5,011 gain on the sale of real estate in Westlake, Ohio.

Income taxes — Income tax expense in 2010 was $63,271, or 27.4 percent of pre-tax income. Income tax expense in 2009 was $32,864. Most of the goodwill and long-lived asset impairment charges recorded in 2009 were not deductible for income tax purposes.

The 2010 effective tax rate was positively impacted by a tax benefit of $10,243 from the write-off of the tax basis in our UV graphics arts and lamps product lines. The 2010 tax rate was also positively impacted by consolidation of certain operations and legal entities, resulting in a $3,616 tax benefit, and by the utilization of foreign operating tax loss carryforwards.

The 2010 effective rate was negatively impacted by an additional tax charge of $5,249 resulting from the enactment of the Patient Protection and Affordable Care Act and the subsequent enactment of the Health Care and Education Reconciliation Act of 2010. This charge was due to a reduction in the value of a deferred tax asset as a result of a change to the tax treatment associated with Medicare Part D subsidies.

Net income (loss) — Net income was $168,048, or $2.46 per diluted share, in 2010. This compares to a net loss of $160,055, or $2.38 per diluted share, in 2009.

Liquidity and Capital Resources

Cash provided by operating activities was $246,727 in 2011, up from $140,186 in 2010. The primary sources were net income, non-cash items and the tax benefit from the exercise of stock options, the sum of which is $251,299, compared to $213,756 in 2010. Operating assets and liabilities used $4,572 of cash in 2011 compared to $73,570 in 2010. The primary reasons for the change were a smaller increase in accounts receivable from 2010 to 2011 as compared to the increase from 2009 to 2010 and one-time postretirement payments and cash contributions to U.S. pension plans totaling $79,514 in 2010.

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Cash used by investing activities was $305,506 in 2011, as compared to $41,324 in 2010. Capital expenditures were $20,239 in 2011, up from $14,317 in the prior year. Significant capital expenditures in 2011 included the continuing rollout of SAP enterprise management software, completion of our new corporate headquarters building that replaced the facility sold in 2009 and various projects that improve manufacturing and distribution operations. The acquisitions of Micromedics, Verbruggen and Value Plastics used cash of $292,980 in 2011, and the acquisition of GLT used cash of $18,576 in 2010. Cash proceeds of $7,552 were received in 2011 from the maturity of bank certificates of deposit that had been purchased in 2010 and classified as short-term marketable securities.

Cash of $50,703 was provided by financing activities in 2011, compared to cash used by financing activities of $79,275 in 2010. Included in 2011 were net short and long-term borrowings of $206,692, compared to net repayments of $45,135 in the prior year. The change is primarily due to our three acquisitions in 2011 and an increase in purchase of treasury shares from $24,935 in 2010 to $137,989 in 2011. Issuance of common shares related to employee benefit plans generated $9,652 of cash in 2011, down from $13,828 in 2010, and the tax benefit from stock option exercises was $6,924 in the current year, down from $7,798 in the prior year. These decreases were the result of fewer stock option exercises. Dividend payments were $29,838 in 2011, up from $26,439 in 2010 due to an increase in the annual dividend to $0.44 per share from $0.39 per share.

The following is a summary of significant changes by balance sheet caption from October 31, 2010 to October 31, 2011. Receivables increased due to higher accounts and notes receivable resulting from higher sales in the fourth quarter of 2011 compared to the fourth quarter of 2010. This increase was partially offset by a decrease in other receivables due to a lower value of foreign exchange contracts. The increase in inventories is due to a higher level of business activity in the fourth quarter of 2011 compared to the fourth quarter of 2010 and inventory held by three acquisitions completed in 2011. Goodwill increased primarily due to three acquisitions completed in 2011 that added $200,823 of goodwill. The increase in other intangibles — net was due to $86,237 of intangibles added as a result of the 2011 acquisitions, partially offset by $8,018 of amortization. The increase in accounts payable is primarily due to a higher level of business activity in the fourth quarter of 2011 compared to the fourth quarter of 2010 and accounts payable of three acquisitions completed in 2011. The decrease in income taxes payable is largely due to higher estimated U.S. tax payments in 2011. The increase in accrued liabilities is primarily due to accruals for salaries and incentive compensation. Current maturities of long-term debt decreased due to scheduled repayments of Senior Notes. The increase in long-term pension and retirement obligations and long-term postretirement obligations is the result of a decrease in the discount rate for U.S. plans, lower expected returns on pension assets and updated demographic assumptions. Long-term deferred tax liabilities increased primarily as a result of purchase accounting adjustments related to the 2011 acquisitions, partially offset by the tax effect of pension and postretirement amounts recorded in other comprehensive income.

In December 2008, the board of directors approved a stock repurchase program of up to 1,000 shares, and 513 shares were repurchased under this program through February 2011. In May 2011, the board of directors approved a program that replaced the December 2008 program with a new program that allowed for the repurchase of up to 2,000 shares. This program was completed in September 2011, and the board of directors approved an additional repurchase program of up to $100,000. Uses for repurchased shares include the funding of benefit programs including stock options, nonvested stock and 401(k) matching. During 2011, we repurchased 3,024 shares within these programs for a total amount of $134,163 using working capital and proceeds from borrowings under our credit facilities.

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The following table summarizes contractual obligations as of October 31, 2011:

Obligations	Payments Due by Period
	Total		Less than 1 Year		1-3 Years		4-5 Years		After 5 Years
Long-term debt(1)	$	319,123	$	5,664	$	66,339	$	21,354	$	225,766
Interest payments on long-term debt(1)		11,826		4,200		3,782		2,137		1,707
Capital lease obligations(2)		12,414		5,481		6,247		686		—
Operating leases(2)		35,802		10,955		10,673		5,079		9,095
Notes payable(3)		33		33		—		—		—
Contributions related to pension and postretirement benefits(4)		14,400		14,400		—		—		—
Purchase obligations(5)		34,284		34,215		69		—		—
Total obligations	$	427,882	$	74,948	$	87,110	$	29,256	$	236,568

(1)  We have a $400,000 unsecured, multicurrency credit facility with a group of banks that expires in 2012 and may be increased to $500,000 under certain conditions. At October 31, 2011, $192,200 was outstanding under this facility, compared to $46,000 outstanding at October 31, 2010. There are two primary financial covenants that must be met under this facility. The first covenant limits the amount of total indebtedness that can be incurred to 3.5 times consolidated trailing EBITDA (both indebtedness and EBITDA as defined in the credit agreement). The second covenant requires consolidated trailing EBITDA to be at least three times consolidated trailing interest expense (both as defined in the credit agreement). At October 31, 2011, we were in compliance with all debt covenants, and the amount we could borrow under the credit facility would not have been limited by any debt covenants. Borrowings under this credit facility were classified as due after five years, because a new revolving credit agreement was entered into on December 9, 2011 that expires on December 9, 2016. See Note 21.

In 2008, we entered into a Note Purchase and Private Shelf Agreement (the Agreement) with Prudential Investment Management, Inc. The Agreement consists of a $50,000 Senior Note and a $100,000 Private Shelf Facility. The Private Shelf Facility expired in February 2011. The Senior Note bears interest at a rate of 4.98 percent and matures on February 22, 2013 and is unsecured. The Agreement contains customary events of default and covenants related to limitations on indebtedness and the maintenance of certain financial ratios. We were in compliance with all covenants at October 31, 2011.

On June 30, 2011, we entered into a $150,000 three-year Private Shelf Note agreement with New York Life Investment Management LLC. Borrowings under the agreement may be up to 12 years, with an average life of up to 10 years and are unsecured. The interest rate on each borrowing can be fixed or floating and is based upon the market rate at the borrowing date. This agreement contains customary events of default and covenants related to limitations on indebtedness and the maintenance of certain financial ratios. At October 31, 2011, $75,000 was outstanding under this facility at a fixed rate of 2.21 percent per annum. We were in compliance with all covenants at October 31, 2011, and the amount we could borrow would not have been limited by any debt covenants.

See Note 8 for additional information.

(2)  See Note 6 for additional information.

(3)  We have various lines of credit with foreign banks totaling $43,305, of which $43,272 was unused at October 31, 2011. See Note 7 for additional information.

(4)  Pension and postretirement plan funding amounts after 2012 will be determined based on the future funded status of the plans and therefore cannot be estimated at this time. See Note 3 for additional information.

(5)  Purchase obligations primarily represent commitments for materials used in our manufacturing processes that are not recorded in our Consolidated Balance Sheet.

We believe that the combination of present capital resources, internally generated funds and unused financing sources are more than adequate to meet cash requirements for 2012. There are no significant restrictions limiting the transfer of funds from international subsidiaries to the parent company.

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Outlook

Our operating performance and balance sheet position for 2011 were both stronger than 2010, as we continued to experience excellent recovery since 2009, which was affected by disruptions in global financial markets and the general economic environment. Going forward, we are well-positioned to manage our liquidity needs that arise from working capital requirements, capital expenditures, and principal and interest payments on indebtedness. Primary sources of capital to meet these needs are cash provided by operations and borrowings under our loan agreements. In 2011, cash from operations was 20 percent of revenue, compared to 13 percent in 2010, which included voluntary contributions to our U.S. pension plans and one-time postretirement payments representing 8 percent of revenue. Funds provided by borrowings occurred under a $400,000 five-year committed revolving line of credit with a group of domestic and international banks that was set to expire in 2012. As of December 9, 2011, we replaced our existing revolving loan agreement, and balances outstanding under the prior facility were transferred to a new $500,000 unsecured multicurrency credit facility with a group of banks. This facility has a five-year term and includes a $40,000 subfacility for swing-line loans. It may be increased from $500,000 to $750,000 under certain conditions. As of October 31, 2011, we had $207,800 under the previous facility as available borrowing capacity, which has been expanded under the replacement facility. In addition, in June 2011, we entered into a $150,000 three-year Private Shelf agreement with New York Life Investment Management LLC. As of October 31, we had $75,000 borrowing capacity. While these facilities provide the contractual terms for any borrowing, we cannot be assured that these facilities would be available in the event that these financial institutions failed to remain sufficiently capitalized.

We move forward with caution in our approach to 2012, given the global economic uncertainty that is primarily due to anxiety over European sovereign debt issues. The rebound effect in order growth since 2009 has moderated to more normal business levels. Though the near- term global macroeconomic outlook remains somewhat unclear, our growth potential has been demonstrated over time from our capacity to build and enhance our core by entering emerging markets and pursuing market adjacencies. We drive value for our customers through our application expertise, differentiated technology and direct sales and service support. Our priorities also are focused on continued operational improvements by employing Lean methodologies to our business processes. We expect these efforts will provide sufficient cash from operations to meet our liquidity needs, as well as enable us to invest in the development of new applications and markets for our technologies and pursue strategic acquisition opportunities. With respect to contractual spending, the table above presents our financial obligations as $427,882, of which $74,948 is payable in 2012. In September 2011, the board of directors approved a stock repurchase program of up to $100,000. The repurchase program is being funded using working capital and proceeds from borrowings under our credit facilities. Under this authorization, the timing and actual number of shares subject to repurchase are at the discretion of management and are contingent on a number of factors including levels of cash generation from operations, cash requirements for acquisitions, repayment of debt and our share price. Capital expenditures for 2012 will be focused primarily upon our continued efforts to leverage our information systems platform, as well as various projects that improve manufacturing and distribution operations.

Effects of Foreign Currency

The impact of changes in foreign currency exchange rates on sales and operating results cannot be precisely measured due to fluctuating selling prices, sales volume, product mix and cost structures in each country where we operate. As a general rule, a weakening of the United States dollar relative to foreign currencies has a favorable effect on sales and net income, while a strengthening of the dollar has a detrimental effect.

In 2011, as compared with 2010, the United States dollar was generally weaker against foreign currencies. If 2010 exchange rates had been in effect during 2011, sales would have been approximately $33,499 lower and third-party costs would have been approximately $17,872 lower. In 2010, as compared with 2009, the United States dollar was generally weaker against foreign currencies. If 2009 exchange rates had been in effect during 2010, sales would have been approximately $12,944 lower and third-party costs would have been approximately $5,208 lower. These effects on reported sales do not include the impact of local price adjustments made in response to changes in currency exchange rates.

28

Item 7A. Quantitative and Qualitative Disclosures About Market Risk

We operate internationally and enter into intercompany transactions denominated in foreign currencies. Consequently, we are subject to market risk arising from exchange rate movements between the dates foreign currencies are recorded and the dates they are settled. We regularly use foreign exchange contracts to reduce our risks related to most of these transactions. These contracts, primarily associated with the euro, yen and pound sterling, typically have maturities of 90 days or less, and generally require the exchange of foreign currencies for United States dollars at rates stated in the contracts. Gains and losses from changes in the market value of these contracts offset foreign exchange losses and gains, respectively, on the underlying transactions. Other transactions denominated in foreign currencies are designated as hedges of our net investments in foreign subsidiaries or are intercompany transactions of a long-term investment nature. As a result of the use of foreign exchange contracts on a routine basis to reduce the risks related to most of our transactions denominated in foreign currencies, as of October 31, 2011, we did not have material foreign currency exposure.

Note 9 to the financial statements contains additional information about our foreign currency transactions and the methods and assumptions used to record these transactions.

A portion of our operations is financed with short-term and long-term borrowings and is subject to market risk arising from changes in interest rates.

The tables that follow present principal repayments and related weighted-average interest rates by expected maturity dates of fixed-rate debt.

At October 31, 2011

	2012			2013			2014			2015			2016			There- after			Total Value			Fair Value
Annual repayments of long-term debt	$	5,664		$	55,668		$	10,671		$	10,675		$	10,679		$	33,566		$	126,923		$	121,650
Average interest rate of total borrowings outstanding during the year		3.32	%		3.37	%		2.23	%		2.24	%		2.24	%		2.25	%		3.32	%

At October 31, 2010

	2011			2012			2013			2014			2015			There- after			Total Value			Fair Value
Annual repayments of long-term debt	$	14,260			$—		$	50,000		$	—		$	—		$	—		$	64,260		$	66,495
Average interest rate of total borrowings outstanding during the year		5.51	%		4.98	%		4.98	%		—	%		—	%		—	%		5.51	%

We also have variable-rate notes payable and long-term debt. The weighted average interest rate of this debt was 0.5 percent at October 31, 2011 and 0.7 percent at October 31, 2010. A one percent increase in interest rates would have resulted in additional interest expense of approximately $785 on the variable rate notes payable and long-term debt in 2011.

29

Inflation

Inflation affects profit margins as the ability to pass cost increases on to customers is restricted by the need for competitive pricing. Although inflation has been modest in recent years and has had no material effect on the years covered by these financial statements, we continue to seek ways to minimize the impact of inflation through focused efforts to increase productivity.

Trends

The Five-Year Summary in Item 6 documents our historical financial trends. Over this period, the world’s economic conditions fluctuated significantly. Our solid performance is attributed to our participation in diverse geographic and industrial markets and our long-term commitment to develop and provide quality products and worldwide service to meet our customers’ changing needs.

Safe Harbor Statements Under the Private Securities Litigation Reform Act of 1995

This Form 10-K, particularly “Management’s Discussion and Analysis,” contains forward-looking statements within the meaning of the Securities Act of 1933, as amended, the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. Such statements relate to, among other things, income, earnings, cash flows, changes in operations, operating improvements, businesses in which we operate and the United States and global economies. Statements in this 10-K that are not historical are hereby identified as “forward-looking statements” and may be indicated by words or phrases such as “anticipates,” “supports,” “plans,” “projects,” “expects,” “believes,” “should,” “would,” “could,” “hope,” “forecast,” “management is of the opinion,” use of the future tense and similar words or phrases.

In light of these risks and uncertainties, actual events and results may vary significantly from those included in or contemplated or implied by such statements. Readers are cautioned not to place undue reliance on such forward-looking statements. These forward-looking statements speak only as of the date made. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Factors that could cause our actual results to differ materially from the expected results are discussed in Item 1A, Risk Factors.

30

Item 8. Financial Statements and Supplementary Data

Consolidated Statements of Income

Years ended October 31, 2011, 2010 and 2009	2011			2010			2009
(In thousands except for per-share amounts)
Sales	$	1,233,159		$	1,041,551		$	819,165
Operating costs and expenses:
Cost of sales		484,727			419,937			350,239
Selling and administrative expenses		429,489			384,752			337,294
Severance and restructuring costs		1,589			2,029			16,396
Goodwill and long-lived asset impairments		1,811			—			243,043
		917,616			806,718			946,972
Operating profit (loss)		315,543			234,833			(127,807	)
Other income (expense):
Interest expense		(5,069	)		(6,263	)		(7,771	)
Interest and investment income		569			819			492
Other — net		3,518			1,930			7,895
		(982	)		(3,514	)		616
Income (loss) before income taxes		314,561			231,319			(127,191	)
Income tax provision:
Current		91,481			36,441			28,809
Deferred		716			26,830			4,055
		92,197			63,271			32,864
Net income (loss)	$	222,364		$	168,048		$	(160,055	)
Average common shares		67,616			67,610			67,129
Incremental common shares attributable to outstanding stock options, nonvested stock and deferred stock-based compensation		809			832			—
Average common shares and common share equivalents		68,425			68,442			67,129
Basic earnings (loss) per share	$	3.29		$	2.49		$	(2.38	)
Diluted earnings (loss) per share	$	3.25		$	2.46		$	(2.38	)
Dividends declared per common share	$	0.44		$	0.39		$	0.36875

Basic and diluted earnings per share, average common shares and common share equivalents, and dividends declared per share have been restated to give effect to a two-for-one stock split. See Note 10 for additional information.

The accompanying notes are an integral part of the consolidated financial statements.

31

Consolidated Balance Sheets

October 31, 2011 and 2010	2011			2010
(In thousands)
Assets
Current assets:
Cash and cash equivalents	$	37,408		$	42,329
Marketable securities		—			7,840
Receivables — net		254,310			243,790
Inventories — net		141,912			117,721
Deferred income taxes		35,693			33,576
Prepaid expenses		7,634			5,775
Total current assets		476,957			451,031
Property, plant and equipment — net		130,883			116,395
Goodwill		547,826			347,326
Intangible assets — net		120,699			42,927
Other assets		28,085			28,675
	$	1,304,450		$	986,354
Liabilities and shareholders’ equity
Current liabilities:
Notes payable	$	33		$	2,160
Accounts payable		46,381			40,262
Income taxes payable		15,283			24,336
Accrued liabilities		101,294			96,133
Customer advance payments		9,375			10,999
Current maturities of long-term debt		5,664			14,260
Current obligations under capital leases		4,131			3,764
Total current liabilities		182,161			191,914
Long-term debt		313,459			96,000
Obligations under capital leases		5,202			3,316
Pension and retirement obligations		123,058			103,327
Postretirement obligations		71,943			53,919
Deferred income taxes		17,415			9,745
Other liabilities		19,889			23,061
Shareholders’ equity:
Preferred shares, no par value; 10,000 shares authorized; none issued		—			—
Common shares, no par value; 160,000 shares authorized; 98,023 shares issued at October 31, 2011 and 2010		12,253			12,253
Capital in excess of stated value		272,928			255,595
Retained earnings		990,221			797,695
Accumulated other comprehensive loss		(80,012	)		(66,306	)
Common shares in treasury, at cost		(624,067	)		(494,165	)
Total shareholders’ equity		571,323			505,072
	$	1,304,450		$	986,354

The accompanying notes are an integral part of the consolidated financial statements.

32

Consolidated Statements of Shareholders’ Equity

Years ended October 31, 2011, 2010 and 2009	2011			2010			2009
(In thousands)
Number of common shares in treasury
Balance at beginning of year		30,152			30,667			30,607
Shares issued under company stock and employee benefit plans		(936	)		(1,448	)		(353	)
Purchase of treasury shares		3,206			933			413
Balance at end of year		32,422			30,152			30,667
Common shares
Balance at beginning and ending of year	$	12,253		$	12,253		$	12,253
Capital in excess of stated value
Balance at beginning of year	$	255,595		$	241,494		$	244,096
Shares issued under company stock and employee benefit plans		1,564			(1,330	)		(2,073	)
Tax benefit from stock option and restricted stock transactions		6,924			7,798			285
Stock-based compensation		8,845			7,633			(814	)
Balance at end of year	$	272,928		$	255,595		$	241,494
Retained earnings
Balance at beginning of year	$	797,695		$	656,086		$	840,888
Net income (loss)		222,364			168,048			(160,055	)
Dividends paid ($.44 per share in 2011, $.39 per share in 2010, and $.36875 per share in 2009)		(29,838	)		(26,439	)		(24,747	)
Balance at end of year	$	990,221		$	797,695		$	656,086
Accumulated other comprehensive income (loss)
Balance at beginning of year	$	(66,306	)	$	(55,470	)	$	(40,795	)
Translation adjustments		562			(4,361	)		40,240
Remeasurement of supplemental pension liability, net of tax of $1,648 in 2010 and $2,074 in 2009		—			(2,746	)		(3,457	)
Settlement loss recognized, net of tax of $(3,085) in 2010 and $(728) in 2009		—			5,126			1,188
Net prior service cost (credit) occurring during the year, net of tax of $(315) in 2011, $3 in 2010 and $(421) in 2009		414			18			726
Net actuarial loss occurring during the year, net of tax of $9,002 in 2011, $4,756 in 2010 and $30,339 in 2009		(14,682	)		(8,873	)		(53,372	)
Balance at end of year	$	(80,012	)	$	(66,306	)	$	(55,470	)
Common shares in treasury, at cost
Balance at beginning of year	$	(494,165	)	$	(484,387	)	$	(482,330	)
Shares issued under company stock and employee benefit plans		13,315			20,309			5,131
Purchase of treasury shares		(143,217	)		(30,087	)		(7,188	)
Balance at end of year	$	(624,067	)	$	(494,165	)	$	(484,387	)
Total shareholders’ equity	$	571,323		$	505,072		$	369,976
Comprehensive income
Net income (loss)	$	222,364		$	168,048		$	(160,055	)
Translation adjustments		562			(4,361	)		40,240
Remeasurement of supplemental pension liability, net of tax of $1,648 in 2010 and $2,074 in 2009		—			(2,746	)		(3,457	)
Settlement loss recognized, net of tax of $(3,085) in 2010 and $(728) in 2009		—			5,126			1,188
Net prior service cost (credit) occurring during the year, net of tax of $(315) in 2011, $3 in 2010 and $(421) in 2009		414			18			726
Net actuarial loss occurring during the year, net of tax of $9,002 in 2011, $4,756 in 2010 and $30,339 in 2009		(14,682	)		(8,873	)		(53,372	)
Total comprehensive income (loss)	$	208,658		$	157,212		$	(174,730	)

The accompanying notes are an integral part of the consolidated financial statements.

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Consolidated Statements of Cash Flows

Years ended October 31, 2011, 2010 and 2009	2011			2010			2009
(In thousands)
Cash flows from operating activities:
Net income (loss)	$	222,364		$	168,048		$	(160,055	)
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation		20,758			22,625			26,310
Amortization		8,018			6,263			5,100
Goodwill and long-lived asset impairments		1,811			—			243,043
Provision for losses on receivables		977			607			1,998
Deferred income taxes		716			26,830			4,055
Tax benefit from the exercise of stock options		(6,924	)		(7,798	)		(284	)
Non-cash stock compensation		8,845			7,633			(814	)
(Gain)/loss on sale of property, plant and equipment		362			(18	)		(4,324	)
Loss on divestiture		—			357			—
Other		(5,628	)		(10,791	)		23,500
Changes in operating assets and liabilities:
Receivables		(4,474	)		(50,732	)		42,182
Inventories		(14,666	)		(15,004	)		22,688
Other current assets		(1,619	)		222			1,170
Other noncurrent assets		875			(2,837	)		(872	)
Accounts payable		4,389			7,046			(10,257	)
Income taxes payable		(1,993	)		18,170			5,456
Accrued liabilities		3,263			5,466			(20,766	)
Customer advance payments		(2,382	)		2,614			853
Other noncurrent liabilities		12,035			(38,515	)		(10,306	)
Net cash provided by operating activities		246,727			140,186			168,677
Cash flows from investing activities:
Additions to property, plant and equipment		(20,239	)		(14,317	)		(12,514	)
Proceeds from sale of property, plant and equipment		161			354			8,611
Sale of product lines		—			(990	)		—
Acquisition of businesses, net of cash acquired		(292,980	)		(18,576	)		—
Proceeds from sale of (purchases of) marketable securities		7,552			(7,795	)		(36	)
Net cash used in investing activities		(305,506	)		(41,324	)		(3,939	)
Cash flows from financing activities:
Proceeds from short-term borrowings		190			12,566			613
Repayment of short-term borrowings		(2,361	)		(11,411	)		(41,591	)
Proceeds from long-term debt		1,039,800			116,000			46,200
Repayment of long-term debt		(830,937	)		(162,290	)		(132,490	)
Repayment of capital lease obligations		(4,738	)		(4,392	)		(5,158	)
Issuance of common shares		9,652			13,828			2,986
Purchase of treasury shares		(137,989	)		(24,935	)		(7,115	)
Tax benefit from the exercise of stock options		6,924			7,798			284
Dividends paid		(29,838	)		(26,439	)		(24,747	)
Net cash provided by (used in) financing activities		50,703			(79,275	)		(161,018	)
Effect of exchange rate changes on cash		3,155			3,961			3,306
Increase (decrease) in cash and cash equivalents		(4,921	)		23,548			7,026
Cash and cash equivalents at beginning of year		42,329			18,781			11,755
Cash and cash equivalents at end of year	$	37,408		$	42,329		$	18,781

The accompanying notes are an integral part of the consolidated financial statements.

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Notes to Consolidated Financial Statements

NOTE REGARDING AMOUNTS AND FISCAL YEAR REFERENCES

In this annual report, all amounts related to United States dollars and foreign currency and to the number of Nordson Corporation’s common shares, except for per share earnings and dividend amounts, are expressed in thousands.

Unless otherwise noted, all references to years relate to our fiscal year ending October 31.

Note 1 — Significant accounting policies

Consolidation — The consolidated financial statements include the accounts of Nordson Corporation and majority-owned and controlled subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation.

Use of estimates — The preparation of financial statements in conformity with generally accepted accounting principles in the United States requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and notes. Actual amounts could differ from these estimates.

Fiscal year — Our fiscal year ends on October 31.

Revenue recognition — Most of our revenues are recognized upon shipment, provided that persuasive evidence of an arrangement exists, the sales price is fixed or determinable, collectibility is reasonably assured, and title and risk of loss have passed to the customer. In October 2009, the FASB issued an accounting standard update on multiple deliverable arrangements, which we adopted effective November 1, 2010. This accounting standard update establishes a relative selling price hierarchy for determining the selling price of a deliverable based on vendor specific objective evidence (VSOE) if available, third-party evidence (TPE) if vendor-specific objective evidence is not available, or best estimated selling price (BESP) if neither vendor-specific objective evidence nor third-party evidence is available. Our multiple deliverable arrangements include installation, installation supervision, training, and spare parts, which tend to be completed in a short period of time, at an insignificant cost, and utilizing skills not unique to us, and, therefore, are typically regarded as inconsequential or perfunctory. Revenue for undelivered items is deferred and included within accrued liabilities in the accompanying balance sheet. Revenues deferred in 2011, 2010 and 2009 were not material. The requirements of this standard did not significantly change our units of accounting or how we allocate arrangement consideration to various units of accounting. The adoption of this standard had no material impact on our financial position or results of operations.

Shipping and handling costs — Amounts billed to customers for shipping and handling are recorded as revenue. Shipping and handling expenses are included in cost of sales.

Advertising costs — Advertising costs are expensed as incurred and were $9,008, $8,267 and $6,512 in 2011, 2010 and 2009, respectively.

Research and development — Research and development costs are expensed as incurred and were $26,997, $23,835 and $25,528 in 2011, 2010 and 2009, respectively.

Earnings per share — Basic earnings per share are computed based on the weighted-average number of common shares outstanding during each year, while diluted earnings per share are based on the weighted-average number of common shares and common share equivalents outstanding. Common share equivalents consist of shares issuable upon exercise of stock options computed using the treasury stock method, as well as nonvested (restricted) stock and deferred stock-based compensation. Options whose exercise price is higher than the average market price are excluded from the calculation of diluted earnings per share because the effect would be anti-dilutive. Options for 71 common shares were excluded from the 2011 calculation, and for 2010, options for 17 common shares were excluded from the calculation of diluted earnings per share, because their effect would have been anti-dilutive. When a loss is reported the denominator of diluted earnings per share cannot be adjusted for the dilutive impact of stock options and awards because doing so will result in anti-dilution. Therefore, for 2009, basic weighted-average shares outstanding are used in calculating diluted earnings per share.

35

Notes to Consolidated Financial Statements — (Continued)

Cash and cash equivalents — Highly liquid instruments with maturities of 90 days or less at date of purchase are considered to be cash equivalents. Cash and cash equivalents are carried at cost.

Marketable securities — Marketable securities consist primarily of short-term notes with maturities greater than 90 days at date of purchase, and all contractual maturities were within one year or could be callable within one year. Our marketable securities are classified as available for sale and are recorded at quoted market prices that approximate cost.

Allowance for doubtful accounts — An allowance for doubtful accounts is maintained for estimated losses resulting from the inability of customers to make required payments. The amount of the allowance is determined principally on the basis of past collection experience and known factors regarding specific customers. Accounts are written off against the allowance when it becomes evident that collection will not occur.

Inventories — Inventories are valued at the lower of cost or market. Cost was determined using the last-in, first-out (LIFO) method for 26 percent of consolidated inventories at October 31, 2011, and 25 percent at October 31, 2010. The first-in, first-out (FIFO) method is used for all other inventories. Consolidated inventories would have been $6,779 and $7,855 higher than reported at October 31, 2011 and October 31, 2010, respectively, had the FIFO method, which approximates current cost, been used for valuation of all inventories. LIFO liquidations in 2009 increased cost of goods sold by $85.

Property, plant and equipment and depreciation — Property, plant and equipment are carried at cost. Additions and improvements that extend the lives of assets are capitalized, while expenditures for repairs and maintenance are expensed as incurred. Plant and equipment are depreciated for financial reporting purposes using the straight-line method over the estimated useful lives of the assets or, in the case of property under capital leases, over the terms of the leases. Leasehold improvements are depreciated over the shorter of the lease term or their useful lives. Useful lives are as follows:

Land improvements	15-25 years
Buildings	20-40 years
Machinery and equipment	3-12 years
Enterprise management systems	5-13 years

Depreciation expense is included in cost of sales and selling and administrative expenses.

Internal use software costs are expensed or capitalized depending on whether they are incurred in the preliminary project stage, application development stage or the post-implementation stage. Amounts capitalized are amortized over the estimated useful lives of the software beginning with the project’s completion. All re-engineering costs are expensed as incurred. Interest costs on significant capital projects are capitalized. No interest was capitalized in 2011, 2010 or 2009.

Goodwill and intangible assets — Goodwill is the excess of cost of an acquired entity over the amounts assigned to assets acquired and liabilities assumed in a business combination. The majority of goodwill relates to and is assigned directly to specific reporting units. Goodwill is not amortized but is subject to annual impairment testing. Our annual impairment testing is performed as of August 1. Testing is done more frequently if an event occurs or circumstances change that would indicate the fair value of a reporting unit is less than the carrying amount of those assets.

36

Notes to Consolidated Financial Statements — (Continued)

Other amortizable intangible assets, which consist primarily of patent/technology costs, customer relationships, noncompete agreements, and trade names, are amortized over their useful lives on a straight-line basis. At October 31, 2011, the weighted average useful lives for each major category of amortizable intangible assets were:

Patent/technology costs	13.5 years
Customer relationships	19.5 years
Noncompete agreements	7.4 years
Trade names	18.1 years

Foreign currency translation — The financial statements of subsidiaries outside the United States are generally measured using the local currency as the functional currency. Assets and liabilities of these subsidiaries are translated at the rates of exchange at the balance sheet dates. Income and expense items are translated at average monthly rates of exchange. The resulting translation adjustments are included in accumulated other comprehensive income (loss), a separate component of shareholders’ equity. Generally, gains and losses from foreign currency transactions, including forward contracts, of these subsidiaries and the United States parent are included in net income. Gains and losses from intercompany foreign currency transactions of a long-term investment nature are included in accumulated other comprehensive income (loss).

Accumulated other comprehensive loss — Accumulated other comprehensive loss at October 31, 2011 and 2010, consisted of:

	2011			2010
Translation adjustments	$	37,040		$	36,478
Pension and postretirement benefit plan adjustments		(117,052	)		(102,784	)
	$	(80,012	)	$	(66,306	)

Warranties — Our standard warranty program provides for repair or replacement of defective products within a specified time period (generally one year) measured from the date of delivery or first use. The estimate for future warranty-related costs is calculated based on actual historical return rates. Based on analysis of return rates and other factors, warranty provisions are adjusted as necessary. The liability for warranty costs is included in other accrued liabilities in the Consolidated Balance Sheet.

Following is a reconciliation of the product warranty liability for 2011 and 2010:

	2011			2010
Balance at beginning of year	$	5,242		$	4,587
Accruals for warranties		7,217			6,068
Warranty assumed from acquisition		72			60
Warranty of divested product lines		—			(201	)
Warranty payments		(6,017	)		(5,210	)
Currency adjustments		14			(62	)
Balance at end of year	$	6,528		$	5,242

Presentation — Certain amounts for 2010 and 2009 have been reclassified to conform to 2011 presentation.

37

Notes to Consolidated Financial Statements — (Continued)

Note 2 — Recently issued accounting standards

In October 2009, the Financial Accounting Standards Board (“FASB”) issued authoritative guidance on multiple-deliverable revenue arrangements that addresses the unit of accounting for arrangements involving multiple deliverables. The guidance also addresses how arrangement consideration should be allocated to separate units of accounting, when applicable, and expands the disclosure requirements for multiple-deliverable arrangements. We adopted this standard on November 1, 2010, and there were no material changes to our revenue deferral amounts.

In December 2010, the FASB issued guidance that provides requirements over pro forma revenue and earnings disclosures related to business combinations. This guidance will require disclosure of revenue and earnings of the combined business as if the combination occurred at the start of the prior annual reporting period only. This guidance is effective beginning in 2012, and is not expected to have a material impact on the consolidated financial statements.

In May 2011, the FASB clarified the guidance around fair value measurements and disclosures. The guidance requires the disclosure of quantitative information about unobservable inputs used, a description of the valuation processes used, and a qualitative discussion around the sensitivity of the measurements. It will be effective beginning in the second quarter of 2012. We do not expect the adoption will have a significant impact on our consolidated financial statements.

In June 2011, the FASB issued an Accounting Standards Update (ASU) that amends current comprehensive income guidance. This ASU eliminates the option to present the components of other comprehensive income as part of the statement of shareholders’ equity. Instead, comprehensive income must be reported in either a single continuous statement of comprehensive income which contains two sections, net income and other comprehensive income, or in two separate but consecutive statements. This guidance will be effective beginning in 2013 and is not expected to impact our consolidated financial statements, as it only results in a change in the format of presentation.

In September 2011, the FASB issued guidance amending the way companies test for goodwill impairment. Companies will have the option to first assess qualitative factors to determine whether the existence of events or circumstances leads to a determination that it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If, after assessing the totality of events or circumstances, companies determine it is more likely than not that the fair value of a reporting unit is greater than its carrying amount, then performing the two-step impairment test is unnecessary. This guidance is effective for interim and annual periods beginning after December 15, 2011, with early adoption permitted. We do not expect the adoption will have a significant impact on our consolidated financial statements.

Note 3 — Retirement, pension and other postretirement plans

Retirement plans — We have funded contributory retirement plans covering certain employees. Our contributions are primarily determined by the terms of the plans, subject to the limitation that they shall not exceed the amounts deductible for income tax purposes. We also sponsor unfunded contributory supplemental retirement plans for certain employees. Generally, benefits under these plans vest gradually over a period of approximately three years from date of employment, and are based on the employee’s contribution. The expense applicable to retirement plans for 2011, 2010 and 2009 was approximately $8,594, $7,945 and $7,703, respectively.

Pension plans — We have various pension plans covering a portion of our United States and international employees. Pension plan benefits are generally based on years of employment and, for salaried employees, the level of compensation. Actuarially determined amounts are contributed to United States plans to provide sufficient assets to meet future benefit payment requirements. We also sponsor an unfunded supplemental pension plan for certain employees. International subsidiaries fund their pension plans according to local requirements.

38

Notes to Consolidated Financial Statements — (Continued)

A reconciliation of the benefit obligations, plan assets, accrued benefit cost and the amount recognized in financial statements for pension plans is as follows:

	United States						International
	2011			2010			2011			2010
Change in benefit obligation:
Benefit obligation at beginning of year	$	237,370		$	224,966		$	71,936		$	61,631
Service cost		6,058			5,997			2,097			1,632
Interest cost		12,008			11,883			2,973			2,791
Participant contributions		—			—			124			128
Plan amendments		5			643			(1,210	)		—
Addition of plan from business combination		—			—			—			1,241
Foreign currency exchange rate change		—			—			345			(448	)
Actuarial (gain) loss		21,289			18,336			(2,567	)		7,966
Benefits paid		(7,781	)		(24,455	)		(2,337	)		(3,005	)
Benefit obligation at end of year	$	268,949		$	237,370		$	71,361		$	71,936
Change in plan assets:
Beginning fair value of plan assets	$	175,864		$	113,356		$	29,799		$	28,833
Actual return on plan assets		15,946			17,266			672			994
Company contributions		672			69,697			3,788			3,446
Participant contributions		—			—			124			128
Foreign currency exchange rate change		—			—			121			(597	)
Benefits paid		(7,781	)		(24,455	)		(2,337	)		(3,005	)
Ending fair value of plan assets	$	184,701		$	175,864		$	32,167		$	29,799
Funded status at end of year	$	(84,248	)	$	(61,506	)	$	(39,194	)	$	(42,137	)
Amounts recognized in financial statements:
Noncurrent asset	$	—		$	—		$	191		$	497
Accrued benefit liability		(571	)		(467	)		(4	)		(346	)
Long-term pension and retirement obligations		(83,677	)		(61,039	)		(39,381	)		(42,288	)
Total amount recognized in financial statements	$	(84,248	)	$	(61,506	)	$	(39,194	)	$	(42,137	)

Benefits paid pursuant to distribution provisions of our United States plans for 2010 included lump sum settlement payments of $17,151.

39

Notes to Consolidated Financial Statements — (Continued)

	United States				International
	2011		2010		2011			2010
Amounts recognized in accumulated other comprehensive (gain) loss:
Net actuarial (gain) loss	$	136,927	$	123,449	$	14,937		$	17,486
Prior service cost (credit)		2,035		2,695		(1,201	)		14
Accumulated other comprehensive (gain) loss	$	138,962	$	126,144	$	13,736		$	17,500
Amounts expected to be recognized during next fiscal year:
Amortization of net actuarial (gain) loss	$	11,356	$	7,226	$	579		$	857
Amortization of prior service cost (credit)		667		666		(98	)		5
Total	$	12,023	$	7,892	$	481		$	862

The following table summarizes the changes in accumulated other comprehensive (gain) loss:

	United States						International
	2011			2010			2011			2010
Balance at beginning of year	$	126,144		$	124,496		$	17,500		$	9,569
Net (gain) loss arising during the year		20,917			15,787			(1,773	)		8,319
Prior service cost (credit) arising during the year		5			643			(1,210	)		—
Net gain (loss) recognized during the year		(7,438	)		(6,181	)		(858	)		(369	)
Settlement loss		—			(8,022	)		—			(190	)
Prior service (cost) credit recognized during the year		(666	)		(579	)		(5	)		(49	)
Exchange rate effect during the year		—			—			82			220
Balance at end of year	$	138,962		$	126,144		$	13,736		$	17,500

Information regarding the accumulated benefit obligation is as follows:

	United States				International
	2011		2010		2011		2010
For all plans:
Accumulated benefit obligation	$	261,767	$	223,966	$	56,529	$	55,865
For plans with benefit obligations in excess of plan assets:
Projected benefit obligation		268,949		237,370		64,945		60,050
Accumulated benefit obligation		261,767		223,966		54,749		49,631
Fair value of plan assets		184,701		175,864		30,185		23,047

40

Notes to Consolidated Financial Statements — (Continued)

Net pension benefit costs include the following components:

	United States									International
	2011			2010			2009			2011			2010			2009
Service cost	$	6,058		$	5,997		$	4,177		$	2,097		$	1,632		$	1,315
Interest cost		12,008			11,883			11,897			2,973			2,791			2,625
Expected return on plan assets		(15,575	)		(14,716	)		(11,982	)		(1,466	)		(1,348	)		(1,210	)
Amortization of prior service cost (credit)		666			579			603			5			49			49
Amortization of net actuarial (gain) loss		7,438			6,181			854			858			369			(19	)
Settlement loss		—			8,022			1,629			—			190			287
Total benefit cost	$	10,595		$	17,946		$	7,178		$	4,467		$	3,683		$	3,047

Net periodic pension cost for 2010 and 2009 included settlement losses of $8,212 and $1,916, respectively, due to lump sum retirement payments.

The weighted average assumptions used in the valuation of pension benefits were as follows:

	United States									International
	2011			2010			2009			2011			2010			2009
Assumptions used to determine benefit obligations at October 31:
Discount rate		4.46	%		5.21	%		5.50	%		4.43	%		4.17	%		4.78	%
Rate of compensation increase		3.20			3.30			3.30			3.16			3.21			2.86
Assumptions used to determine net benefit costs for the years ended October 31:
Discount rate		5.21			5.50			8.00			4.17			4.78			5.87
Expected return on plan assets		8.25			8.51			8.48			4.84			4.85			5.04
Rate of compensation increase		3.30			3.30			3.30			3.21			2.86			3.45

The amortization of prior service cost is determined using a straight-line amortization of the cost over the average remaining service period of employees expected to receive benefits under the plans.

In determining the expected return on plan assets, we consider both historical performance and an estimate of future long-term rates of return on assets similar to those in our plans. We consult with and consider the opinions of financial and other professionals in developing appropriate return assumptions.

41

Notes to Consolidated Financial Statements — (Continued)

Economic assumptions have a significant effect on the amounts reported. The effect of a one percent change in the discount rate, expected return on assets and compensation increase is shown in the table below. Bracketed numbers represent decreases in expense and obligation amounts.

	United States						International
	1% Point Increase			1% Point Decrease			1% Point Increase			1% Point Decrease
Discount rate:
Effect on total service and interest cost components in 2011	$	(3,107	)	$	3,696		$	(324	)	$	405
Effect on pension obligation as of October 31, 2011	$	(34,776	)	$	43,229		$	(11,917	)	$	13,847
Expected return on assets:
Effect on total service and interest cost components in 2011	$	(1,889	)	$	1,888		$	(302	)	$	301
Effect on pension obligation as of October 31, 2011	$	—		$	—		$	—		$	—
Compensation increase:
Effect on total service and interest cost components in 2011	$	2,816		$	(2,291	)	$	462		$	(420	)
Effect on pension obligation as of October 31, 2011	$	14,649		$	(12,040	)	$	8,575		$	(7,062	)

The allocation of pension plan assets as of October 31, 2011 and 2010 is as follows:

	United States				International
	2011		2010		2011		2010
Asset Category
Equity securities		22%		83%		—%		—%
Debt securities		33		16		—		—
Insurance contracts		—		—		58		59
Pooled investment funds		44		—		41		40
Other		1		1		1		1
Total		100%		100%		100%		100%

Our investment objective for defined benefit plan assets is to meet the plans’ benefit obligations, while minimizing the potential for future required plan contributions.

Our United States plans comprise 85 percent of the worldwide pension assets. The investment strategies focus on asset class diversification, liquidity to meet benefit payments and an appropriate balance of long-term investment return and risk. Target ranges for asset allocations are determined by dynamically matching the actuarial projections of the plans’ future liabilities and benefit payments with expected long-term rates of return on the assets, taking into account investment return volatility and correlations across asset classes. The current target in “return-seeking assets” is 50 percent and 50 percent in fixed income. Plan assets are diversified across several investment managers and are generally invested in liquid funds that are selected to track broad market equity and bond indices. Investment risk is carefully controlled with plan assets rebalanced to target allocations on a periodic basis and continual monitoring of investment managers’ performance relative to the investment guidelines established with each investment manager.

Our international plans comprise 15 percent of the worldwide pension assets. Asset allocations are developed on a country-specific basis. Our investment strategy is to cover pension obligations with insurance contracts or to employ independent managers to invest the assets.

42

Notes to Consolidated Financial Statements — (Continued)

The fair values of our pension plan assets at October 31, 2011 by asset category are in the table below.

	United States								International
	Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3
Cash	$	618	$	618	$	—	$	—	$	322	$	322	$	—	$	—
Money market funds		1,845		1,845		—		—		—		—		—		—
Equity securities:
Basic materials		5,081		5,081		—		—		—		—		—		—
Consumer goods		5,942		5,942		—		—		—		—		—		—
Financial		6,989		6,989		—		—		—		—		—		—
Healthcare		4,062		4,062		—		—		—		—		—		—
Industrial goods		3,993		3,993		—		—		—		—		—		—
Technology		4,767		4,767		—		—		—		—		—		—
Utilities		1,578		1,578		—		—		—		—		—		—
Mutual funds		7,353		7,353		—		—		—		—		—		—
Fixed income securities:
U.S. Government		24,224		2,445		21,779		—		—		—		—		—
Corporate		35,514		—		35,514		—		—		—		—		—
Other		826		—		826		—		—		—		—		—
Other types of investments:
Insurance contracts		—		—		—		—		18,501		—		—		18,501
Pooled investment funds		81,062		—		81,062		—		13,344		—		13,344		—
Other		847		847		—		—		—		—		—		—
	$	184,701	$	45,520	$	139,181	$	—	$	32,167	$	322	$	13,344	$	18,501

43

Notes to Consolidated Financial Statements — (Continued)

The fair values of our pension plan assets at October 31, 2010 by asset category are in the table below.

	United States								International
	Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3
Cash	$	580	$	580	$	—	$	—	$	—	$	—	$	—	$	—
Money market funds		19,224		19,224		—		—		309		309		—		—
Equity securities:
Basic materials		6,776		6,776		—		—		—		—		—		—
Consumer goods		7,789		7,789		—		—		—		—		—		—
Financial		9,768		9,768		—		—		—		—		—		—
Healthcare		4,483		4,483		—		—		—		—		—		—
Industrial goods		4,623		4,623		—		—		—		—		—		—
Technology		4,339		4,339		—		—		—		—		—		—
Utilities		1,839		1,839		—		—		—		—		—		—
Mutual funds		87,339		87,339		—		—		—		—		—		—
Fixed income securities:
U.S. Government		14,329		4,068		10,261		—		—		—		—		—
Corporate		14,489		—		14,489		—		—		—		—		—
Other		57		—		57		—		—		—		—		—
Other types of investments:
Insurance contracts		—		—		—		—		17,699		—		—		17,699
Pooled investment funds		—		—		—		—		11,791		—		11,791		—
Other		229		229		—		—		—		—		—		—
	$	175,864	$	151,057	$	24,807	$	—	$	29,799	$	309	$	11,791	$	17,699

At October 31, 2011 and 2010, the pension plans did not have any investment in our common shares.

The inputs and methodology used to measure fair value of plan assets are consistent with those described in Note 18. Following are the valuation methodologies used to measure these assets:

• Money market funds — Money market funds are public investment vehicles that are valued with a net asset value of one dollar. This is a quoted price in an active market and is classified as Level 1.

• Equity securities — Common stocks are valued at the closing price reported on the active market on which the individual securities are traded and are classified as Level 1. Mutual funds are valued at the net asset values of the shares at year-end, as determined by the closing price reported on the active market on which the individual securities are traded and are classified as Level 1.

• Fixed income securities — U.S. Treasury bills reflect the closing price on the active market in which the securities are traded and are classified as Level 1. Securities of U.S. agencies are valued using bid evaluations and a classified as Level 2. Corporate fixed income securities are valued using evaluated prices, such as dealer quotes, bids and offers and are therefore classified as Level 2.

• Insurance contracts — Insurance contracts are investments with various insurance companies. The assets are valued at the fair value as reported by the insurance companies. These contracts do not hold any specific assets. These investments are classified as Level 3.

44

Notes to Consolidated Financial Statements — (Continued)

• Pooled investment funds — These are public investment vehicles valued using the net asset value. The net asset value is based on the value of the assets owned by the plan, less liabilities. These investments are not quoted on an active exchange and are classified as Level 2.

The following table sets forth a summary of changes in fair value of the pension plan investments classified as Level 3 for the years ended October 31, 2011 and 2010:

	2011		2010
Balance at beginning of year	$	17,699	$	17,600
Net unrealized gains		55		692
Purchases, sales, issuances and settlements, net		679		(231	)
Transfers in (out)		—		—
Foreign currency translation		68		(362	)
Balance at end of year	$	18,501	$	17,699

Contributions to pension plans in 2012 are estimated to be approximately $12,500.

Retiree pension benefit payments, which reflect expected future service, are anticipated to be paid as follows:

Year	United States		International
2012	$	12,762	$	1,942
2013		11,443		1,989
2014		12,669		2,399
2015		13,982		2,840
2016		14,243		2,288
2017-2021		92,072		17,271

Contributions and retiree pension benefit payments for 2012 include amounts related to the termination of a plan.

Other postretirement plans — We have an unfunded postretirement benefit plan covering the majority of our United States employees. Employees hired after January 1, 2002, are not eligible to participate in this plan. The plan provides medical and life insurance benefits. The plan is contributory, with retiree contributions in the form of premiums that are adjusted annually, and contains other cost-sharing features, such as deductibles and coinsurance. We also sponsor an unfunded, non-contributory postretirement benefit plan that provides medical and life insurance benefits for certain international employees.

45

Notes to Consolidated Financial Statements — (Continued)

A reconciliation of the benefit obligations, accrued benefit cost and the amount recognized in financial statements for other postretirement plans is as follows:

	United States						International
	2011			2010			2011			2010
Change in benefit obligation:
Benefit obligation at beginning of year	$	55,599		$	52,858		$	659		$	605
Service cost		1,122			837			31			29
Interest cost		2,932			2,504			41			45
Participant contributions		1,307			1,143			—			—
Plan amendment		—			(1,171	)		—			—
Foreign currency exchange rate change		—			—			13			37
Actuarial (gain) loss		14,409			1,326			(62	)		(53	)
Benefits paid		(1,977	)		(1,898	)		(4	)		(4	)
Benefit obligation at end of year	$	73,392		$	55,599		$	678		$	659
Change in plan assets:
Beginning fair value of plan assets	$	—		$	—		$	—		$	—
Company contributions		670			755			4			4
Participant contributions		1,307			1,143			—			—
Benefits paid		(1,977	)		(1,898	)		(4	)		(4	)
Ending fair value of plan assets	$	—		$	—		$	—		$	—
Funded status at end of year	$	(73,392	)	$	(55,599	)	$	(678	)	$	(659	)
Amounts recognized in financial statements:
Accrued benefit liability	$	(2,123	)	$	(2,339	)	$	(4	)	$	(4	)
Long-term postretirement obligations		(71,269	)		(53,260	)		(674	)		(655	)
Total amount recognized in financial statements	$	(73,392	)	$	(55,599	)	$	(678	)	$	(659	)

The 2010 Amendment noted in the preceding table relates to changes in deductibles and out-of-pocket maximums and changes in limits for certain benefits.

	United States						International
	2011			2010			2011			2010
Amounts recognized in accumulated other comprehensive (gain) loss:
Net actuarial (gain) loss	$	37,690		$	24,887		$	(260	)	$	(203	)
Prior service cost (credit)		(2,316	)		(3,464	)		—			—
Accumulated other comprehensive (gain) loss	$	35,374		$	21,423		$	(260	)	$	(203	)
Amounts expected to be recognized during next fiscal year:
Amortization of net actuarial (gain) loss	$	2,681		$	1,498		$	(14	)	$	(5	)
Amortization of prior service cost (credit)		(584	)		(1,147	)		—			—
Total	$	2,097		$	351		$	(14	)	$	(5	)

46

Notes to Consolidated Financial Statements — (Continued)

The following table summarizes the changes in accumulated other comprehensive (gain) loss:

	United States						International
	2011			2010			2011			2010
Balance at beginning of year	$	21,423		$	21,291		$	(203	)	$	(146	)
Net (gain) loss arising during the year		14,410			1,326			(62	)		(53	)
Prior service cost (credit) arising during the year		—			(1,171	)		—			—
Net gain (loss) recognized during the year		(1,606	)		(1,170	)		8			5
Prior service credit (cost) recognized during the year		1,147			1,147			—			—
Exchange rate effect during the year		—			—			(3	)		(9	)
Balance at end of year	$	35,374		$	21,423		$	(260	)	$	(203	)

Net postretirement benefit costs include the following components:

	United States									International
	2011			2010			2009			2011			2010			2009
Service cost	$	1,122		$	837		$	589		$	31		$	29		$	23
Interest cost		2,932			2,504			2,926			41			44			35
Amortization of prior service cost (credit)		(1,147	)		(1,147	)		(1,009	)		—			—			—
Amortization of net actuarial (gain) loss		1,606			1,170			765			(8	)		(5	)		(11	)
Total benefit cost	$	4,513		$	3,364		$	3,271		$	64		$	68		$	47

The weighted average assumptions used in the valuation of postretirement benefits were as follows:

	United States									International
	2011			2010			2009			2011			2010			2009
Assumptions used to determine benefit obligations at October 31:
Discount rate		4.50	%		5.25	%		5.50	%		5.85	%		5.75	%		6.75	%
Health care cost trend rate		9.36			9.00			8.25			7.00			6.80			7.50
Rate to which health care cost trend rate is assumed to decline (ultimate trend rate)		5.00			5.00			4.50			3.50			4.80			4.80
Year the rate reaches the ultimate trend rate		2016			2020			2015			2031			2013			2013
Assumption used to determine net benefit costs for the years ended October 31:
Discount rate		5.25	%		5.50	%		8.00	%		5.75	%		6.75	%		7.70	%

47

Notes to Consolidated Financial Statements — (Continued)

The discount rate and the health care cost trend rate assumptions have a significant effect on the amounts reported. For example, a one-percentage point change in the discount rate and the assumed health care cost trend rate would have the following effects:

	United States						International
	1% Point Increase			1% Point Decrease			1% Point Increase			1% Point Decrease
Discount rate:
Effect on total service and interest cost components in 2011	$	(628	)	$	753		$	(9	)	$	11
Effect on postretirement obligation as of October 31, 2011	$	(10,119	)	$	12,871		$	(135	)	$	181
Health care trend rate:
Effect on total service and interest cost components in 2011	$	871		$	(688	)	$	19		$	(14	)
Effect on postretirement obligation as of October 31, 2011	$	11,804		$	(9,476	)	$	174		$	(132	)

Contributions to postretirement plans in 2012 are estimated to be approximately $1,900.

Retiree postretirement benefit payments are anticipated to be paid as follows:

	United States				International
Year	With Medicare Part D Subsidy		Without Medicare Part D Subsidy
2012	$	2,123	$	1,872	$	4
2013		2,316		2,013		4
2014		2,693		2,345		8
2015		2,955		2,556		16
2016		3,238		2,787		17
2017-2021		18,483		15,279		115

Note 4 — Income taxes

Income tax expense includes the following:

	2011			2010			2009
Current:
U.S. federal	$	53,983		$	9,811		$	14,370
State and local		2,029			29			858
Foreign		35,469			26,601			13,581
Total current		91,481			36,441			28,809
Deferred:
U.S. federal		1,851			34,097			7,281
State and local		23			(2,771	)		906
Foreign		(1,158	)		(4,496	)		(4,132	)
Total deferred		716			26,830			4,055
	$	92,197		$	63,271		$	32,864

48

Notes to Consolidated Financial Statements — (Continued)

Earnings before income taxes of domestic operations, which are calculated after intercompany profit eliminations, were $181,258, $130,149 and $21,864 in 2011, 2010 and 2009, respectively.

Foreign income tax expense includes a benefit related to the utilization of loss carryforwards of $682, $1,876 and $5 in 2011, 2010 and 2009, respectively.

Income tax expense for 2011 includes a benefit of $2,027 from a reduction in unrecognized tax benefits, primarily related to settlements with tax authorities. In December 2010, the U.S. Congress passed and the President signed the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010, which provided retroactive reinstatement of a research credit. As a result, income tax expense for 2011 includes a tax benefit of $1,580 related to research credit generated in 2010.

During 2010 we sold our UV Curing graphic arts and lamps product lines to Baldwin Technology Company, Inc., as discussed in Note 14, and we recognized $10,243 in tax benefits from the write-off of our tax basis in the product lines. Income tax expense for 2010 was negatively impacted by the enactment in March 2010 of the Patient Protection and Affordable Care Act and the subsequent enactment of the Health Care and Education Reconciliation Act of 2010, resulting in an additional tax charge of $5,249. The charge is due to a reduction in the value of our deferred tax asset as a result of a change to the tax treatment associated with Medicare Part D subsidies.

Expense in 2009 included a benefit of $2,752 related to remeasurement of unrecognized tax benefits and a benefit of $531 related to an adjustment to a prior tax year.

The principal items accounting for the difference in income taxes computed at the U.S. statutory rate and income tax shown in the Consolidated Statements of Income for 2011, 2010, and 2009 are as follows:

	2011			2010			2009
Tax at statutory rate of 35%	$	110,096		$	80,962		$	(44,517	)
Impact of goodwill charge		—			—			79,064
Domestic Production Deduction		(5,530	)		(1,737	)		(1,134	)
Foreign tax rate variances, net of foreign tax credits		(7,906	)		(10,550	)		1,279
State and local taxes, net of federal income tax benefit		1,310			(1,828	)		1,160
Tax expense related to tax law change		—			5,249			—
Tax benefit from sale of UV product lines		—			(10,243	)		—
Amounts related to prior years		(4,123	)		776			(3,283	)
Other — net		(1,650	)		642			295
Provision for income taxes	$	92,197		$	63,271		$	32,864

The Domestic Production Deduction, enacted by the American Jobs Creation Act of 2004, allows a deduction with respect to income from certain United States manufacturing activities.

Earnings before income taxes of international operations, which are calculated before intercompany profit elimination entries, were $133,303, $101,170 and $(149,055) in 2011, 2010 and 2009, respectively. Deferred income taxes are not provided on undistributed earnings of international subsidiaries that are intended to be permanently invested in those operations. These undistributed earnings aggregated approximately $391,679 and $340,354 at October 31, 2011 and 2010, respectively. Should these earnings be distributed, applicable foreign tax credits would substantially offset United States taxes due upon the distribution.

49

Notes to Consolidated Financial Statements — (Continued)

At October 31, 2011 and 2010, total unrecognized tax benefits were $2,576 and $4,078, respectively. The amounts that, if recognized, would impact the effective tax rate were $2,517 and $4,019 at October 31, 2011 and 2010, respectively. A reconciliation of the beginning and ending amount of unrecognized tax benefits for 2011, 2010 and 2009 is as follows:

	2011			2010			2009
Balance at beginning of year	$	4,078		$	3,969		$	7,685
Additions based on tax positions related to the current year		387			388			515
Additions for tax positions of prior years		138			359			—
Reductions for tax positions of prior years		—			(638	)		(3,267	)
Settlements		(2,027	)		—			(964	)
Lapse of statute of limitations		—			—			—
Balance at end of year	$	2,576		$	4,078		$	3,969

At October 31, 2011 and 2010, we had accrued interest expense related to unrecognized tax benefits of $327 and $460, respectively. We include interest accrued related to unrecognized tax benefits in interest expense. Penalties, if incurred, would be recognized as other income (expense).

We are subject to United States Federal income tax as well as income taxes in numerous state and foreign jurisdictions. We are subject to examination in the U.S. by the Internal Revenue Service (IRS) for the 2009 through 2011 tax years; tax years prior to 2009 have been examined by the IRS. Generally, major state and foreign jurisdiction tax years remain open to examination for tax years after 2006. Within the next twelve months, it is reasonably possible that certain foreign statute of limitations periods would expire, which could result in a decrease in our unrecognized tax benefits in a range of $0 to $500. The portion of the possible reduction that, if recognized, would impact the effective tax rate is $0 to $500.

Significant components of deferred tax assets and liabilities are as follows:

	2011			2010
Deferred tax assets:
Sales to international subsidiaries and related consolidation adjustments	$	10,315		$	8,919
Employee benefits		79,027			63,520
Other accruals not currently deductible for taxes		12,114			11,681
Tax credit and loss carryforwards		10,812			5,664
Inventory adjustments		4,085			3,585
Translation of foreign currency accounts		716			316
Other — net		—			268
Total deferred tax assets		117,069			93,953
Valuation allowance		(4,287	)		(5,729	)
Total deferred tax assets		112,782			88,224
Deferred tax liabilities:
Depreciation and amortization		94,487			64,198
Translation of foreign currency accounts		17			—
Other — net		—			195
Total deferred tax liabilities		94,504			64,393
Net deferred tax assets	$	18,278		$	23,831

50

Notes to Consolidated Financial Statements — (Continued)

At October 31, 2011, we had $645 of tax credit carryforwards that will expire in 2013 through 2017. We also had $19,117 Federal, $55,798 state and $575 foreign operating loss carryforwards, of which $74,915 will expire in 2012 through 2031, and $575 of which has an indefinite carryforward period. The net change in the valuation allowance was a decrease of $1,442 in 2011 and a decrease of $2,081 in 2010. The valuation allowance of $4,287 at October 31, 2011, relates primarily to tax credits and loss carryforwards that may expire before being realized.

Note 5 — Details of balance sheet

	2011			2010
Receivables:
Accounts	$	235,240		$	215,960
Notes		16,082			11,035
Other		6,299			20,148
		257,621			247,143
Allowance for doubtful accounts		(3,311	)		(3,353	)
	$	254,310		$	243,790
Inventories:
Finished goods	$	98,879		$	83,459
Work-in-process		13,971			15,614
Raw materials and finished parts		51,891			43,305
		164,741			142,378
Obsolescence and other reserves		(16,050	)		(16,802	)
LIFO reserve		(6,779	)		(7,855	)
	$	141,912		$	117,721
Property, plant and equipment:
Land	$	7,791		$	7,810
Land improvements		3,392			2,325
Buildings		121,870			115,111
Machinery and equipment		207,734			207,740
Enterprise management system		43,006			37,249
Construction-in-progress		5,623			8,544
Leased property under capitalized leases		16,796			14,879
		406,212			393,658
Accumulated depreciation and amortization		(275,329	)		(277,263	)
	$	130,883		$	116,395
Accrued liabilities:
Salaries and other compensation	$	44,068		$	40,334
Pension and retirement		1,030			1,675
Taxes other than income taxes		9,252			8,110
Other		46,944			46,014
	$	101,294		$	96,133

51

Notes to Consolidated Financial Statements — (Continued)

Note 6 — Leases

We have lease commitments expiring at various dates, principally for manufacturing, warehouse and office space, automobiles and office equipment. Many leases contain renewal options and some contain purchase options and residual guarantees.

Rent expense for all operating leases was approximately $12,292, $12,266 and $11,801 in 2011, 2010 and 2009, respectively.

Amortization of assets recorded under capital leases is recorded in depreciation expense.

Assets held under capitalized leases and included in property, plant and equipment are as follows:

	2011			2010
Transportation equipment	$	14,215		$	13,870
Other		2,581			1,009
Total capitalized leases		16,796			14,879
Accumulated amortization		(6,969	)		(7,799	)
Net capitalized leases	$	9,827		$	7,080

At October 31, 2011, future minimum lease payments under noncancelable capitalized and operating leases are as follows:

	Capitalized Leases		Operating Leases
Year:
2012	$	5,481	$	10,955
2013		4,036		6,244
2014		2,211		4,429
2015		637		2,863
2016		49		2,216
Later years		—		9,095
Total minimum lease payments		12,414	$	35,802
Less amount representing executory costs		1,812
Net minimum lease payments		10,602
Less amount representing interest		1,269
Present value of net minimum lease payments		9,333
Less current portion		4,131
Long-term obligations at October 31, 2011	$	5,202

52

Notes to Consolidated Financial Statements — (Continued)

Note 7 — Notes payable

Bank lines of credit and notes payable are summarized as follows:

	2011			2010
Maximum borrowings under bank lines of credit:
Domestic banks	$	—		$	—
Foreign banks		43,305			39,710
Total	$	43,305		$	39,710
Outstanding notes payable:
Domestic bank debt	$	—		$	—
Foreign bank debt		33			2,160
Total	$	33		$	2,160
Weighted-average interest rate on notes payable		1.5	%		4.1	%
Unused bank lines of credit	$	43,272		$	37,550

Note 8 — Long-term debt

A summary of long-term debt is as follows:

	2011		2010
Revolving credit agreement, due 2017	$	192,200	$	46,000
Senior notes, due 2005-2011		—		14,260
Private shelf facility, due 2012-2020		75,000		—
Senior notes, due 2013		50,000		50,000
Development loans, due 2011-2026		1,923		—
		319,123		110,260
Less current maturities		5,664		14,260
Long-term maturities	$	313,459	$	96,000

Revolving credit agreement — This $400,000 revolving credit agreement is with a group of banks which was scheduled to expire in 2012; however, we replaced this agreement with a new $500,000 unsecured, multi-currency credit agreement with a group of banks. The balance outstanding under the prior agreement was transferred to the new agreement. Borrowings under the prior agreement were classified as long-term, because a new revolving credit agreement was entered into on December 9, 2011, as discussed in Note 21. Payment of quarterly commitment fees is required. The weighted average interest rate for borrowings under this agreement was 0.54 percent at October 31, 2011.

Senior notes, due 2005-2011 — These fixed rate notes with a group of insurance companies had an original weighted-average life of 6.5 years at the time of issuance in 2001.

Private shelf facility — On June 30, 2011, we entered into a $150,000 three-year Private Shelf Note agreement with New York Life Investment Management LLC (NYLIM). Borrowings under the agreement may be up to 12 years, with an average life of up to 10 years, and are unsecured. The interest rate on each borrowing can be fixed or floating and is based upon the market rate at the borrowing date. At October 31, 2011, $75,000 was outstanding under this facility at a fixed rate of 2.21 percent per annum.

Senior note, due 2013 — This note is payable in one installment and has a fixed interest rate of 4.98 percent.

53

Notes to Consolidated Financial Statements — (Continued)

Development loans, due 2011-2026 — These fixed-rate loans with the State of Ohio and Cuyahoga County, Ohio were issued in 2011 in connection with the construction of our new corporate headquarters building and are payable in monthly installments over 15 years beginning in 2011. The interest rate on the State of Ohio loan is 3.00 percent, and the interest rate on the Cuyahoga County loan is 3.50 percent.

Annual maturities — The annual maturities of long-term debt for the five years subsequent to October 31, 2011, are as follows: $5,664 in 2012; $55,668 in 2013; $10,671 in 2014; and $10,675 in 2015 and $10,679 in 2016.

Note 9 — Financial instruments

We operate internationally and enter into intercompany transactions denominated in foreign currencies. Consequently, we are subject to market risk arising from exchange rate movements between the dates foreign currency transactions occur and the dates they are settled. We regularly use foreign currency forward contracts to reduce our risks related to most of these transactions. These contracts usually have maturities of 90 days or less and generally require us to exchange foreign currencies for U.S. dollars at maturity, at rates stated in the contracts. These contracts are not designated as hedging instruments under U.S. GAAP. Accordingly, the changes in the fair value of the hedges of balance sheet positions are recognized in each accounting period in “other-net” on the Consolidated Statement of Income together with the transaction gain or loss from the hedged balance sheet position. In 2011, we recognized net losses of $11,277 on foreign exchange contracts and net gains of $13,477 from the change in fair value of balance sheet positions. In 2010, we recognized net gains of $7,970 on foreign exchange contracts and net losses of $6,749 from the change in fair value of balance sheet positions. We do not use financial instruments for trading or speculative purposes.

The following table summarizes, by currency, forward exchange contracts outstanding at October 31, 2011 and 2010:

	Sell				Buy
	Notional Amounts		Fair Market Value		Notional Amounts		Fair Market Value
October 31, 2011 contract amounts:
Euro	$	10,920	$	10,967	$	88,209	$	87,736
Pound sterling		29,381		29,465		56,028		56,515
Japanese yen		16,723		16,416		15,788		15,566
Others		13,827		13,891		33,001		33,473
Total	$	70,851	$	70,739	$	193,026	$	193,290
October 31, 2010 contract amounts:
Euro	$	17,145	$	17,601	$	171,870	$	181,430
Pound sterling		—		—		25,832		26,576
Japanese yen		12,947		13,260		18,678		19,490
Others		6,357		6,545		28,361		29,854
Total	$	36,449	$	37,406	$	244,741	$	257,350

We also use intercompany foreign currency transactions of a long-term investment nature to hedge the value of investment in wholly-owned subsidiaries. For hedges of the net investment in foreign operations, realized and unrealized gains and losses are shown in the cumulative translation adjustment account included in total comprehensive income. For 2011 and 2010, net losses of $170 and $999, respectively, were included in the cumulative translation adjustment account related to foreign denominated fixed-rate debt designated as a hedge of net investment in foreign operations.

54

Notes to Consolidated Financial Statements — (Continued)

We are exposed to credit-related losses in the event of nonperformance by counterparties to financial instruments. These financial instruments include cash deposits and forward exchange contracts. We periodically monitor the credit ratings of these counterparties in order to minimize our exposure. Our customers represent a wide variety of industries and geographic regions. As of October 31, 2011, there were no significant concentrations of credit risk.

The carrying amounts and fair values of financial instruments, other than receivables and accounts payable, are shown in the table below. The carrying values of receivables and accounts payable approximate fair value due to the short-term nature of these instruments.

	2011				2010
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Cash and cash equivalents	$	37,408	$	37,408	$	42,329	$	42,329
Marketable securities		—		—		7,840		7,840
Notes payable		33		33		2,160		2,160
Long-term debt		319,123		313,850		110,260		112,495
Forward exchange contracts (net)		376		376		11,653		11,653

We used the following methods and assumptions in estimating the fair value of financial instruments:

• Cash, cash equivalents and notes payable are valued at their carrying amounts due to the relatively short period to maturity of the instruments.

• Marketable securities are valued at quoted market prices, which are considered to be Level 1 inputs under the fair value hierarchy.

• Long-term debt is valued by discounting future cash flows at currently available rates for borrowing arrangements with similar terms and conditions, which are considered to be Level 2 inputs under the fair value hierarchy.

• Foreign exchange contracts are estimated using quoted exchange rates, which are considered to be Level 2 inputs under the fair value hierarchy.

Note 10 — Capital shares

Preferred — We have authorized 10,000 Series A convertible preferred shares without par value. No preferred shares were outstanding in 2011, 2010 or 2009.

Common — On March 1, 2011, the Board of Directors declared a 2-for-1 stock split on our common shares, paid in the form of a 100 percent stock dividend on April 12, 2011 for all shares outstanding on March 25, 2011. Accordingly, all per-share amounts and number of common shares and common share equivalents have been adjusted retroactively to reflect the stock split.

We have 160,000 authorized common shares without par value. At October 31, 2011 and 2010, there were 98,023 common shares issued. At October 31, 2011 and 2010, the number of outstanding common shares, net of treasury shares, was 65,601 and 67,871, respectively.

Common shares repurchased as part of publicly announced programs during 2011, 2010 and 2009 were as follows:

Year	Number of Shares		Total Amount		Average per Share
2011		3,024	$	134,163	$	44.37
2010		697	$	22,047	$	31.63
2009		394	$	6,826	$	17.31

55

Notes to Consolidated Financial Statements — (Continued)

Note 11 — Stock-based compensation

The amended and restated 2004 long-term performance plan, approved by shareholders in 2008, provides for the granting of stock options, stock appreciation rights, nonvested (restricted) stock, stock purchase rights, stock equivalent units, nonvested (restricted) stock units, cash awards and other stock- or performance-based incentives. The number of common shares available for grant is 2.5 percent of the number of common shares outstanding as of the first day of each year. At the end of 2011, there were 1,640 shares available for grant in 2012.

Stock options — Nonqualified or incentive stock options may be granted to our employees and directors. Generally, options granted to employees may be exercised beginning one year from the date of grant at a rate not exceeding 25 percent per year for executive officers and 20 percent per year for other employees and expire 10 years from the date of grant. Vesting accelerates upon the occurrence of events that involve or may result in a change of control. Option exercises are satisfied through the issuance of treasury shares on a first-in, first-out basis. We recognized compensation expense of $2,906, $2,231 and $3,026 for 2011, 2010 and 2009, respectively.

Following is a summary of stock options for 2011:

	Number of Options			Weighted-Average Exercise Price Per Share		Aggregate Intrinsic Value		Weighted-Average Remaining Term
Outstanding at October 31, 2010		2,362		$	20.15
Granted		287		$	43.32
Exercised		(787	)	$	18.92
Forfeited or expired		(11	)	$	28.20
Outstanding at October 31, 2011		1,851		$	24.22	$	41,011		6.2 years
Vested at October 31, 2011 or expected to vest		1,773		$	23.93	$	39,791		6.1 years
Exercisable at October 31, 2011		944		$	19.79	$	25,100		4.5 years

Summarized information on currently outstanding options follows:

	Range of Exercise Price
	$11 — $20		$21 — $28		$29 — $44
Number outstanding		843		655		353
Weighted-average remaining contractual life, in years		4.7		6.5		8.9
Weighted-average exercise price	$	15.69	$	26.22	$	40.85
Number exercisable		596		331		17
Weighted-average exercise price	$	16.24	$	25.62	$	30.70

As of October 31, 2011, there was $6,859 of total unrecognized compensation cost related to nonvested stock options. That cost is expected to be amortized over a weighted average period of approximately 2.0 years.

The Black-Scholes option valuation model was developed for use in estimating the fair value of traded options that have no vesting restrictions and are fully transferable. Option valuation models require the input of highly subjective assumptions, including the expected stock price volatility. The fair value of each option grant was estimated at the date of grant using the Black-Scholes option-pricing model with the following assumptions:

	2011	2010
Expected volatility	.431-.451	.429-.442
Expected dividend yield	1.28%	1.35-1.40%
Risk-free interest rate	1.89%-2.25%	2.27-3.18%
Expected life of the option (in years)	5.4-6.3	5.4-6.3

56

Notes to Consolidated Financial Statements — (Continued)

The weighted-average expected volatility used to value options granted in 2011 and 2010 was .443 and ..436, respectively. The weighted-average dividend yield used to value the 2010 options was 1.39%.

Historical information was the primary basis for the selection of the expected volatility, expected dividend yield and the expected lives of the options. The risk-free interest rate was selected based upon yields of United States Treasury issues with terms equal to the expected life of the option being valued.

The weighted average grant date fair value of stock options granted during 2011, 2010 and 2009 was $16.80, $11.08 and $5.31, respectively.

The total intrinsic value of options exercised during 2011, 2010 and 2009 was $23,076, $22,821 and $2,024, respectively. Cash received from the exercise of stock options for 2011, 2010 and 2009 was $9,652, $13,828 and $2,986, respectively. The tax benefit realized from tax deductions from exercises for 2011, 2010 and 2009 was $6,924, $7,798 and $284, respectively.

Nonvested (restricted) stock — We may grant nonvested (restricted) stock to our employees and directors. These shares may not be disposed of for a designated period of time (generally six months to five years) defined at the date of grant. For employee recipients, shares are forfeited on a pro-rata basis in the event employment is terminated as a consequence of the employee recipient’s early retirement, disability or death prior to the lapse of any restrictions. Restrictions lapse in the event of a recipient’s retirement at or after normal retirement age. Termination for any other reason prior to the lapse of any restrictions results in forfeiture of the shares. For non-employee directors, all restrictions lapse in the event of disability or death of the non-employee director. Termination of service as a director for any other reason within one year of date of grant results in a pro-rata forfeiture of shares.

As shares are issued, deferred stock-based compensation equivalent to the fair market value on the date of grant is charged to shareholders’ equity and subsequently amortized over the restriction period. Tax benefits arising from the lapse of restrictions on the stock are recognized when realized and credited to capital in excess of stated value.

The following table summarizes 2011 activity related to nonvested stock:

	Number of Shares			Weighted-Average Grant Date Fair Value Per Share
Nonvested at October 31, 2010		80		$	24.70
Granted		38		$	43.41
Vested		(36	)	$	21.11
Forfeited		(1	)	$	43.32
Nonvested at October 31, 2011		81		$	34.95

As of October 31, 2011, there was $1,614 of unrecognized compensation cost related to nonvested stock. The cost is expected to be amortized over a weighted average period of 1.7 years. The amount charged to expense related to nonvested stock was $1,278, $774 and $507 in 2011, 2010 and 2009, respectively.

Deferred directors compensation — Non-employee directors may defer all or part of their compensation until retirement. Compensation may be deferred as cash or as stock equivalent units. Deferred cash amounts are recorded as liabilities. Additional stock equivalent units are earned when common stock dividends are declared.

57

Notes to Consolidated Financial Statements — (Continued)

The following is a summary of the activity related to deferred director compensation during 2011:

	Number of Shares			Weighted-Average Grant Date Fair Value Per Share
Outstanding at October 31, 2010		267		$	16.54
Deferrals		3		$	48.82
Restricted stock units vested		18		$	16.55
Dividend equivalents		2		$	47.99
Distributions		(47	)	$	15.27
Outstanding at October 31, 2011		243		$	17.51

The amount charged to expense related to this plan was $265, $351 and $333 in 2011, 2010 and 2009, respectively.

Long-Term Incentive Plan — Under the Long-Term Incentive Plan, executive officers and selected other key employees receive common stock awards based solely on corporate performance measures over three-year performance periods. Awards vary based on the degree to which corporate performance exceeds predetermined threshold, target and maximum performance levels at the end of a performance period. No award will occur unless certain threshold performance objectives are exceeded.

The amount of compensation expense is based upon current performance projections for each three-year period and the percentage of the requisite service that has been rendered. The calculations are also based upon the grant date fair value determined using the closing market price of common stock at the grant date, reduced by the implied value of dividends not to be paid. This value was $42.02 per share for both the executive officer and the selected other key employees for 2011. The per-share values for 2010 were $26.10 and $29.52 for the executive officer group and $26.10 for the selected other key employees. The per-share value for 2009 was $13.23. These performance-based equity grants are recorded in shareholders’ equity. The cumulative amounts recorded in shareholders’ equity at October 31, 2011 and October 31, 2010 were $6,081 and $3,879, respectively. There was no cumulative amount recorded in shareholders’ equity at October 31, 2009. The amounts charged to expense for executive officers and selected other key employees in 2011 and 2010 were $4,067 and $3,879, respectively. There was $5,014 credited to expense for executive officers and selected other employees in 2009.

Shares reserved for future issuance — At October 31, 2011, there were 139,354 of common shares reserved for future issuance through the exercise of outstanding options or rights.

Note 12 — Severance and restructuring costs

In 2011, we announced a restructuring of the Georgia operations of our Adhesive Dispensing Systems segment in order to optimize operations and better serve our customers. The restructuring involves the expansion of our facility in Duluth and construction of a new facility in Swainsboro, where operations from our existing Swainsboro facility, as well as facilities in Norcross and Dawsonville, will be transferred. Severance costs and other termination fees associated with this action will occur through the third quarter of 2012 and are estimated to be approximately $2,400. Payments are expected to begin in the first quarter of 2012. Of the total expense amount, $1,557 was recorded in 2011.

As a result of this restructuring initiative, the existing facilities in Swainsboro, Norcross and Dawsonville will be sold. We assessed the fair value of the three facilities involved and remeasured to fair value two of them using third-party property appraisals or market-corroborated inputs. The amount of Level 2 long-lived assets measured at fair value on a non-recurring basis was $4,150. Impairment losses of $1,322 on the two facilities were recorded in goodwill and long-lived asset impairments on the Consolidated Statement of Income.

58

Notes to Consolidated Financial Statements — (Continued)

In order to optimize Adhesive Dispensing Systems segment operations in Germany, a restructuring initiative was taken that will result in severance costs of approximately $200. Of that amount, $32 was recorded in 2011. In addition, we assessed the fair value of a facility and remeasured it to fair value using a third party appraisal. The amount of Level 2 long-lived assets measured at fair value on a non-recurring basis was $932. An impairment loss of $489 was recorded in goodwill and long-lived asset impairments on the Consolidated Statement of Income.

Cost reduction activities were taken in 2008 through 2010 primarily in response to economic conditions and with the objective of improving operating efficiencies. Total severance and related costs of these actions were $23,986 of which $5,561 occurred in 2008, $16,396 occurred in 2009, and $2,029 occurred in 2010. The severance costs were recorded in the Corporate segment. Substanially all of the $923 accrual balance at October 31, 2010 was utilized in 2011.

Note 13 — Acquisitions

Business acquisitions have been accounted for as purchases, with the acquired assets and liabilities recorded at estimated fair value on the dates of acquisition. The cost in excess of the net assets of the business acquired is included in goodwill. Operating results after the respective dates of acquisitions are included in the Consolidated Statement of Income.

Value Plastics

On August 26, 2011, we acquired 100 percent of the outstanding shares of Value Plastics, a leading designer and manufacturer of precision engineered, plastic molded, single-use fluid connection components headquartered in Fort Collins, Colorado. Value Plastics’ products are used primarily in critical flow control applications for healthcare and medical device markets. Cash, and proceeds from our revolving loan agreement and private shelf facility with NYLIM, were used for the purchase. Value Plastics supports our strategic objective of building upon our medical and life sciences platform and complements our growing positions in biomaterial delivery devices and medical device assembly. Our global reach and infrastructure will provide opportunities to leverage the business’ profitable growth beyond its primary domestic markets served and into general industrial markets. Value Plastics is being reported in our Advanced Technology Systems segment.

The preliminary allocation of purchase price is shown in the table below. Although we do not expect changes, new information may be obtained about facts or circumstances that existed as of the acquisition date that, if known, would affect the measurement amounts recorded to date.

Fair values:
Assets acquired	$	26,647
Liabilities assumed		(18,930	)
Intangible assets subject to amortization		74,720
Goodwill		179,050
		261,487
Less cash acquired		(3,108	)
Purchase price	$	258,379

The intangible assets include customer relationships of $40,400 that will be amortized over 25 years, technology and know-how of $18,500 that will be amortized over 15 years and a tradename asset of $15,400 that will be amortized over 20 years. None of the goodwill associated with the Value Plastics acquisition is tax deductible; however, they had $15,600 of existing goodwill related to a previous acquisition that is tax deductible.

59

Notes to Consolidated Financial Statements — (Continued)

The following unaudited pro forma financial information for 2011 and 2010 assumes the acquisition occurred as of the beginning of 2010, after giving effect to certain adjustments, including amortization of intangible assets, interest expense on acquisition debt and income tax effects. The pro forma results have been prepared for comparative purposes only and are not necessarily indicative of the results of operations which may occur in the future or that would have occurred had the acquisition of Value Plastics been affected on the date indicated, nor are they necessarily indicative of our future results of operations.

Years ended October 31	2011		2010
Sales	$	1,259,127	$	1,067,729
Net income	$	224,934	$	166,921
Basic earnings per share	$	3.33	$	2.47
Diluted earnings per share	$	3.29	$	2.44

Proforma results for 2010 were adjusted to include $375 of acquisition-related expenses and $4,575 of nonrecurring expense related to the fair value adjustment to acquisition-date inventory. Proforma results for 2011 were adjusted to exclude $375 of acquisition-related expenses and $2,401 of nonrecurring expense related to the fair value adjustment to acquisition-date inventory. Proforma results for both years include $3,829 of pretax amortization expense related to Value Plastics’ intangible assets.

Other 2011 acquisitions

On November 1, 2010, we acquired 100 percent of the outstanding shares of Micromedics, a St. Paul, Minnesota company that is a leader in applying and dispensing biomaterials for controlling bleeding, healing wounds and other related medical procedures. The acquisition date fair value of the consideration transferred, which consisted solely of cash, was $21,296. Based on the fair value of the assets acquired and the liabilities assumed, goodwill of $13,312 and identifiable intangible assets of $7,500 were recorded, of which customer relationships is the primary asset valued at $4,550 and amortized over 10 years. Goodwill associated with this acquisition is not tax deductible. Micromedics is being reported in our Advanced Technology Systems segment.

On June 30, 2011, we acquired 100% of the outstanding shares of Verbruggen, a Belgium manufacturer of flat dies and coextrusion equipment for the multi-layer flexible packaging industry. The acquisition date fair value of the consideration transferred, which consisted solely of cash, was $13,305. Based on the fair value of the assets acquired and the liabilities assumed, goodwill of $8,461 and identifiable intangible assets of $4,017 were recorded, of which customer relationships is the primary asset valued at $2,900 and amortized over 11 years. Goodwill associated with this acquisition is not tax deductible. Verbruggen is being reported in our Adhesive Dispensing Systems segment.

Assuming the Micromedics and Verbruggen acquisitions had taken place at the beginning of 2009, pro-forma results for 2011, 2010 and 2009 would not have been materially different.

2010 acquisition

On January 5, 2010, we acquired 100 percent of the outstanding shares of G L T Gesellschaft für Löttechnik mbH (“GLT”), a German distributor of EFD dispensing systems and related products. The acquisition date fair value of the consideration transferred, which consisted solely of cash, was $18,576. Based on the fair value of the assets acquired and the liabilities assumed, goodwill of $6,034 and identifiable intangible assets of $7,270 were recorded. The identifiable intangible assets consist primarily of $5,661 of customer relationships that are being amortized over 10 years. GLT is being reported in our Advanced Technology Systems segment. Assuming this acquisition had taken place at the beginning of 2009, pro-forma results for 2010 and 2009 would not have been materially different.

60

Notes to Consolidated Financial Statements — (Continued)

Note 14 — Divestiture

On June 30, 2010, we sold our UV Curing graphic arts and lamps product lines to Baldwin Technology Company, Inc. These product lines were reported in the Advanced Technology Systems segment. This divestiture did not qualify for discontinued operations treatment, because it was not a component of an entity, as its operations and cash flows were not clearly distinguished from the rest of the entity. During 2010, we recognized a pretax loss on disposition of $357, which is reflected in selling and administrative expenses in the Consolidated Statement of Income. We recognized a pre-tax impairment charge of $14,101 in 2009, including $12,129 of goodwill impairment, to write down the carrying amount of the assets held for sale to the estimated fair value less costs to sell. The tax benefit related to the write-off of our tax basis in the investment in these product lines is discussed in Note 4.

Note 15 — Supplemental information for the statement of cash flows

	2011		2010		2009
Cash operating activities:
Interest paid	$	5,253	$	6,518	$	7,986
Income taxes paid		96,487		21,526		24,893
Non-cash investing and financing activities:
Capitalized lease obligations incurred	$	8,154	$	5,468	$	3,257
Capitalized lease obligations terminated		534		721		2,376
Shares acquired and issued through exercise of stock options		5,228		5,151		73

Note 16 — Operating segments and geographic area data

We conduct business in three primary operating segments: Adhesive Dispensing Systems, Advanced Technology Systems, and Industrial Coating Systems. Effective November 1, 2010, the Industrial Coating Systems segment includes our industrial UV Curing product line that had previously been reported in the Advanced Technology Systems segment, where it was combined with our former UV Curing graphic arts and lamps product lines that were sold in 2010. This change more closely reflects the change in management of this product line and its related growth opportunities. Prior year results have been reclassified to reflect the segment change.

The composition of segments and measure of segment profitability is consistent with that used by our chief operating decision maker. The primary measure used by the chief operating decision maker for purposes of making decisions about allocating resources to the segments and assessing performance is operating profit, which equals sales less cost of sales and certain operating expenses. Items below the operating profit line of the Consolidated Statement of Income (interest and investment income, interest expense and other income/expense) are excluded from the measure of segment profitability reviewed by our chief operating decision maker and are not presented by operating segment. In addition, the measure of segment operating profit that is reported to and reviewed by the chief operating decision maker excludes severance costs associated with the cost reduction program that began in 2008 and expense in 2011 related to the withdrawal from a multiemployer employee pension fund in Japan. The accounting policies of the segments are generally the same as those described in Note 1, Significant Accounting Policies.

No single customer accounted for five percent or more of sales in 2011, 2010 or 2009.

61

Notes to Consolidated Financial Statements — (Continued)

The following table presents information about our reportable segments:

	Adhesive Dispensing Systems			Advanced Technology Systems			Industrial Coating Systems			Corporate			Total
Year ended October 31, 2011
Net external sales	$	611,911		$	438,634		$	182,614		$	—		$	1,233,159
Depreciation		7,087			7,869			2,837			2,965			20,758
Operating profit		210,350	(a)		114,903			26,977			(36,687	)(b)		315,543
Identifiable assets(c)		286,974			692,295			70,622			270,500			1,320,391
Expenditures for long-lived assets		4,477			4,842			2,428			8,492			20,239
Year ended October 31, 2010
Net external sales	$	525,290		$	369,449		$	146,812		$	—		$	1,041,551
Depreciation		8,014			7,641			2,851			4,119			22,625
Operating profit (loss)		166,255			84,247			14,588			(30,257	)(b)		234,833
Identifiable assets(c)		251,881			477,563			61,256			206,663	(d)		997,363
Expenditures for long-lived assets		1,857			2,792			548			9,120			14,317
Year ended October 31, 2009
Net external sales	$	460,746		$	242,247		$	116,172		$	—		$	819,165
Depreciation		9,087			7,268			3,326			6,629			26,310
Operating profit		127,589			(214,781	)(e)		(6,895	)(e)		(33,720	)(b)		(127,807	)
Identifiable assets(c)		226,904			448,196			53,176			168,686	(d)		896,962
Expenditures for long-lived assets		1,922			7,089			865			2,638			12,514

(a) Includes $1,811 of impairment charges related to write down of assets to fair value, and $1,589 of severance charges and other termination fees.

(b) Includes $3,120 of expense related to the withdrawal from a multiemployer employee pension fund in Japan in 2011 and severance charges of $2,029 and $16,396 in 2010 and 2009, respectively.

(c) Includes notes and accounts receivable net of customer advance payments and allowance for doubtful accounts, inventories net of reserves, property, plant and equipment net of accumulated depreciation and goodwill.

(d) Corporate assets are principally cash and cash equivalents, deferred income taxes, investments, capital leases, headquarter facilities, the major portion of our enterprise management system, and intangible assets.

(e) Includes goodwill and long-lived asset impairments of $239,427 in the Advanced Technology Systems segment and $3,616 in the Industrial Coating Systems segment.

62

Notes to Consolidated Financial Statements — (Continued)

We have significant sales and long-lived assets in the following geographic areas:

	2011		2010		2009
Net external sales
United States	$	312,328	$	273,652	$	234,038
Americas		102,077		78,058		60,632
Europe		390,319		336,119		294,951
Japan		111,003		93,318		81,678
Asia Pacific		317,432		260,404		147,866
Total net external sales	$	1,233,159	$	1,041,551	$	819,165
Long-lived assets
United States	$	90,994	$	80,974	$	79,675
Americas		2,933		1,865		1,703
Europe		16,312		13,401		15,329
Japan		3,496		3,587		3,257
Asia Pacific		17,148		16,568		18,327
Total long-lived assets	$	130,883	$	116,395	$	118,291

Sales in 2010 and 2009 include reclassification adjustments primarily into Asia Pacific from the United States based on more accurate end-user destination information for products sold by our Advanced Technology Systems segment to certain global customers.

A reconciliation of total segment operating income to total consolidated income before income taxes is as follows:

	2011			2010			2009
Total profit (loss) for reportable segments	$	315,543		$	234,833		$	(127,807	)
Interest expense		(5,069	)		(6,263	)		(7,771	)
Interest and investment income		569			819			492
Other-net		3,518			1,930			7,895
Income (loss) before income taxes	$	314,561		$	231,319		$	(127,191	)

A reconciliation of total assets for reportable segments to total consolidated assets is as follows:

	2011			2010			2009
Total assets for reportable segments	$	1,320,391		$	997,363		$	896,962
Customer advance payments		9,375			10,999			8,807
Eliminations		(25,316	)		(22,008	)		(15,095	)
Total consolidated assets	$	1,304,450		$	986,354		$	890,674

63

Notes to Consolidated Financial Statements — (Continued)

Note 17 — Goodwill and intangible assets

Goodwill is the excess of purchase price over the fair value of tangible and identifiable intangible net assets acquired in various business combinations. Goodwill is not amortized but is tested for impairment annually at the reporting unit level, or more often if indications of impairment exist. We assess the fair value of reporting units on a non-recurring basis using a combination of two valuation methods, a market approach and an income approach, to estimate the fair value of our reporting units. The implied fair value of our reporting units is determined based on significant unobservable inputs; accordingly, these inputs fall within Level 3 of the fair value hierarchy.

Our reporting units are the Adhesive Dispensing Systems segment, the Industrial Coating Systems segment and one level below the Advanced Technology Systems segment.

The goodwill impairment test is a two-step process. In the first step, performed in the fourth quarter of each year, we calculate a fair value using a discounted cash flow valuation methodology and compare the result against the carrying value for net assets of each reporting unit. Indications of value derived for each reporting unit using the market approach are corroborated with the results of the discounted cash flow approach. If the carrying value of a reporting unit exceeds its fair value, then a second step is performed to determine if goodwill is impaired. In the second step, a hypothetical purchase price allocation of the reporting unit’s assets and liabilities is performed using the fair value calculated in step one. The difference between the fair value of the reporting unit and the hypothetical fair value of assets and liabilities is the implied goodwill amount. Impairment is recorded if the carrying value of the reporting unit’s goodwill is higher than its implied goodwill. Based upon results of step one in 2011 and 2010, the second step of the goodwill impairment test was not necessary.

We acquired Value Plastics on August 26, 2011, subsequent to the measurement date for impairment testing. Determination of the preliminary fair value associated with this acquisition was completed with the assistance of an independent valuation specialist on October 5, 2011. Since the date of valuation, no events or changes in circumstances have occurred that would more likely than not reduce the fair value of Value Plastics below its carrying value. For future valuation purposes, Value Plastics will be a component of EFD.

In 2009, the second step of the goodwill impairment test was performed and we recognized an impairment charge related to a reduction in the carrying value of goodwill in the amount of $232,789, relating to six reporting units as follows: Dage $166,916, Picodostec $7,530, YESTech $26,149, March Plasma Systems $16,449, UV Curing $12,129, and Industrial Coating Systems $3,616. These amounts represented the accumulated impairment losses at October 31, 2011 and 2010.

On November 1, 2010 we completed the acquisition of Micromedics that resulted in $13,312 of goodwill. On June 30, 2011 we completed the acquisition of Verbruggen that resulted in $8,461 of goodwill. On August 26, 2011, we completed the acquisition of Value Plastics that resulted in $179,050 of goodwill.

Changes in the carrying amount of goodwill during 2011 by operating segment follow:

	Adhesive Dispensing Systems			Advanced Technology Systems			Industrial Coating Systems		Total
Balance at October 31, 2010	$	33,783		$	313,543		$	—	$	347,326
Acquisitions/Adjustment		8,638			192,362			—		201,000
Currency effect		(459	)		(41	)		—		(500	)
Balance at October 31, 2011	$	41,962		$	505,864		$	—	$	547,826

64

Notes to Consolidated Financial Statements — (Continued)

Information regarding intangible assets subject to amortization follows:

	October 31, 2011
	Carrying Amount		Accumulated Amortization		Net Book Value
Patent/technology costs	$	43,235	$	11,571	$	31,664
Customer relationships		78,324		11,843		66,481
Noncompete agreements		5,042		3,727		1,315
Trade name		22,143		1,530		20,613
Other		1,437		811		626
Total	$	150,181	$	29,482	$	120,699

	October 31, 2010
	Carrying Amount		Accumulated Amortization		Net Book Value
Patent/technology costs	$	23,429	$	9,084	$	14,345
Customer relationships		30,630		8,273		22,357
Noncompete agreements		5,982		4,857		1,125
Trade name		1,684		479		1,205
Other		1,432		636		796
Total	$	63,157	$	23,329	$	39,828

In 2010 and 2009, indefinite-lived intangible assets consisted of trademarks and trade names. These assets were not subject to amortization but needed to be tested for impairment annually or more often if indications of impairment existed. The impairment test consisted of a comparison of the fair value of the intangible asset with its carrying amount. If the carrying amount of an intangible asset exceeded its fair value, an impairment charge was recognized in an amount equal to that excess. After an impairment charge was recognized, the adjusted carrying amount of the intangible asset became its new accounting basis. Subsequent reversal of a previously recognized impairment charge is prohibited.

The common valuation technique for determining the fair value of trademark and trade names is the “relief from royalty method” which is based on significant unobservable inputs; accordingly, these inputs fall within Level 3 of the fair value hierarchy. The theory is that these assets relieve the owner from having to pay a hypothetical royalty attributable to an exclusive license for selling products under the trademark or trade name. The value of the hypothetical exclusive license is based upon the present value of a stream of hypothetical royalty payments, using assumptions for revenue growth (the same as for goodwill testing), discount rates (slightly more risk premium than for goodwill testing), royalty rates (based on market data), and tax amortization benefits (based upon statutory guidance). No impairment charges were recorded in 2010. In 2009, this testing resulted in impairment charges totaling $8,282 as follows by reporting unit: Dage $5,365, Picodostec $157, YESTech $350, and TAH Industries $2,410. The charge for the TAH trade name was due to our branding program, under which TAH product lines are being integrated into and marketed as “Nordson EFD” over the next several years. Accordingly, the TAH trade name was converted to a finite-lived asset.

At October 31, 2010, $3,099 of trademark and trade name intangible assets were not subject to amortization. Effective November 1, 2010, the Dage trade name was converted from an indefinite lived asset to a finite lived asset with a remaining life of 20 years.

Amortization expense for 2011 and 2010 was $8,018 and $6,263, respectively.

65

Notes to Consolidated Financial Statements — (Continued)

Estimated amortization expense for each of the five succeeding years follows:

Year	Amounts
2012	$	10,359
2013	$	9,713
2014	$	8,881
2015	$	8,330
2016	$	7,793

Note 18 — Fair value measurements

The inputs to the valuation techniques used to measure fair value are classified into the following categories:

Level 1: Quoted market prices in active markets for identical assets or liabilities.

Level 2: Observable market based inputs or unobservable inputs that are corroborated by market data.

Level 3: Unobservable inputs that are not corroborated by market data.

The following table presents the classification of our assets and liabilities measured at fair value on a recurring basis at October 31, 2011:

	Total		Level 1		Level 2		Level 3
Assets:
Rabbi trust(a)	$	13,678	$	—	$	13,678	$	—
Forward exchange contracts(b)		1,401		—		1,401		—
Total assets at fair value	$	15,079	$	—	$	15,079	$	—
Liabilities:
Deferred compensation plans(c)	$	6,278	$	6,278	$	—	$	—
Forward exchange contracts(b)		1,025		—		1,025		—
Total liabilities at fair value	$	7,303	$	6,278	$	1,025	$	—

(a) We maintain a rabbi trust that serves as an investment to shadow our deferred compensation plan liability. The investment assets of the trust consist of life insurance policies for which we recognize income or expense based upon changes in cash surrender value.

(b) We enter into foreign currency forward contracts to reduce the risk of foreign currency exposures resulting from receivables, payables, intercompany receivables, intercompany payables and loans denominated in foreign currencies. The maturities of these contracts are usually less than 90 days. Foreign exchange contracts are valued using market exchange rates. These foreign exchange contracts are not designated as hedges.

(c) Senior management and other highly compensated employees may defer up to 100 percent of their salary and incentive compensation into various non-qualified deferred compensation plans. Deferrals can be allocated to various market performance measurement funds. Changes in the value of compensation deferred under these plans are recognized each period based on the fair value of the underlying measurement funds.

Fair value disclosures related to impairments of long-lived assets are disclosed in Note 12, and fair value disclosures related to goodwill and indefinite-lived intangible assets are disclosed in Note 17.

66

Notes to Consolidated Financial Statements — (Continued)

Note 19 — Quarterly financial data (unaudited)

	First		Second		Third		Fourth
2011:
Sales	$	270,962	$	318,924	$	312,255	$	331,018
Gross margin		166,171		197,752		188,050		196,459
Net income		45,897		65,242		56,550		54,675
Earnings per share:
Basic		0.67		0.96		0.83		0.82
Diluted		0.67		0.95		0.82		0.81
2010:
Sales	$	220,589	$	251,659	$	279,121	$	290,182
Gross margin		131,675		153,867		165,801		170,271
Net income		26,732		32,431		55,329		53,556
Earnings per share:
Basic		0.40		0.48		0.81		0.79
Diluted		0.39		0.47		0.80		0.78

The sum of the per-share amounts for the four quarters of 2011 and 2010 do not equal the annual per-share amounts due to differences in the average number of shares outstanding during the respective periods.

During the first quarter of 2011, net income tax benefits of $1,242 were recorded as a result of the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 that was passed by the U.S. Congress and signed by the President in December 2010. During the third quarter of 2011, a favorable adjustment to unrecognized tax benefits primarily related to settlements with tax authorities reduced income taxes by $2,027. The third quarter also included expense of $3,136 related to a fee paid to withdraw from a multiemployer employee pension fund in Japan.

During the first quarter of 2010, net income tax benefits of $3,500 were recorded as a result of the consolidation of certain operations and legal entities. During the second quarter of 2010, an additional tax charge of $5,255 was recorded resulting from the enactment of the Patient Protection and Affordable Care Act and the subsequent enactment of the Health Care and Education Reconciliation Act of 2010. The charge was due to a reduction in the value of our deferred tax asset as a result of a change to the tax treatment associated with Medicare Part D subsidies. During the third quarter of 2010, a tax benefit of $10,700 was recognized as a result of the write-off of the tax basis of the UV graphic arts business sold on June 30, 2010.

67

Notes to Consolidated Financial Statements — (Continued)

Note 20 — Contingencies

We are involved in pending or potential litigation regarding environmental, product liability, patent, contract, employee and other matters arising from the normal course of business. Including the environmental matter discussed below, it is our opinion, after consultation with legal counsel, that resolutions of these matters are not expected to result in a material effect on our financial condition, quarterly or annual operating results or cash flows.

Environmental — We have voluntarily agreed with the City of New Richmond, Wisconsin and other Potentially Responsible Parties to share costs associated with the remediation of the City of New Richmond municipal landfill (the “Site”) and constructing a potable water delivery system serving the impacted area down gradient of the Site. At October 31, 2011, and 2010 our accrual for the ongoing operation, maintenance and monitoring obligation at the Site was $795 and $885, respectively. The liability for environmental remediation represents management’s best estimate of the probable and reasonably estimable undiscounted costs related to known remediation obligations. The accuracy of our estimate of environmental liability is affected by several uncertainties such as additional requirements that may be identified in connection with remedial activities, the complexity and evolution of environmental laws and regulations, and the identification of presently unknown remediation requirements. Consequently, our liability could be greater than our current estimate. However, we do not expect that the costs associated with remediation will have a material adverse effect on our financial condition or results of operations.

Note 21 — Subsequent events

On December 9, 2011 we entered into a $500,000 unsecured multicurrency credit facility with a group of banks. This facility has a five-year term and includes a $40,000 subfacility for swing-line loans. It may be increased from $500,000 to $750,000 under certain conditions. The new facility contains customary events of default and covenants related to limitations on indebtedness and the maintenance of certain financial ratios. It replaced our existing revolving loan agreement that was scheduled to expire in 2012. Balances outstanding under the prior facility were transferred to the new facility.

68

Management’s Report on Internal Control Over Financial Reporting

The management of Nordson Corporation is responsible for establishing and maintaining adequate internal control over financial reporting.

Using criteria set forth by the Committee of Sponsoring Organizations of the Treadway Commission (COSO) in Internal Control-Integrated Framework, Nordson’s management assessed the effectiveness of our internal control over financial reporting as of October 31, 2011.

Based on our assessment, management concluded that our internal control over financial reporting was effective as of October 31, 2011.

The independent registered public accounting firm, Ernst & Young LLP, has also audited the effectiveness of our internal control over financial reporting as of October 31, 2011. Their report is included herein.

/s/    MICHAEL F. HILTON	/s/    GREGORY A. THAXTON
President and Chief Executive Officer	Senior Vice President, Chief Financial Officer
December 16, 2011	December 16, 2011

69

Report of Independent Registered Public Accounting Firm

The Board of Directors and Shareholders of Nordson Corporation

We have audited Nordson Corporation’s internal control over financial reporting as of October 31, 2011, based on criteria established in Internal Control — Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (the COSO criteria). Nordson Corporation’s management is responsible for maintaining effective internal control over financial reporting, and for its assessment of the effectiveness of internal control over financial reporting included in the accompanying “Management’s Report on Internal Control Over Financial Reporting”. Our responsibility is to express an opinion on the company’s internal control over financial reporting based on our audit.

We conducted our audit in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether effective internal control over financial reporting was maintained in all material respects. Our audit included obtaining an understanding of internal control over financial reporting, assessing the risk that a material weakness exists, testing and evaluating the design and operating effectiveness of internal control based on the assessed risk, and performing such other procedures as we considered necessary in the circumstances. We believe that our audit provides a reasonable basis for our opinion.

A company’s internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A company’s internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the company’s assets that could have a material effect on the financial statements.

Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

In our opinion, Nordson Corporation maintained, in all material respects, effective internal control over financial reporting as of October 31, 2011, based on the COSO criteria.

We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States), the consolidated balance sheets of Nordson Corporation as of October 31, 2011 and 2010, and the related consolidated statements of income, shareholders’ equity, and cash flows for each of the three years in the period ended October 31, 2011 of Nordson Corporation and our report dated December 16, 2011 expressed an unqualified opinion thereon.

Cleveland, Ohio

December 16, 2011

70

Report of Independent Registered Public Accounting Firm

The Board of Directors and Shareholders of Nordson Corporation

We have audited the accompanying consolidated balance sheets of Nordson Corporation as of October 31, 2011 and 2010 and the related consolidated statements of income, shareholders’ equity, and cash flows for each of the three years in the period ended October 31, 2011. Our audits also included the financial statement schedule listed in the Index at Item 15(a). These financial statements and schedule are the responsibility of the Company’s management. Our responsibility is to express an opinion on these financial statements and schedule based on our audits.

We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in all material respects, the consolidated financial position of Nordson Corporation at October 31, 2011 and 2010, and the consolidated results of its operations and its cash flows for each of the three years in the period ended October 31, 2011, in conformity with U.S. generally accepted accounting principles. Also, in our opinion, the related financial statement schedule, when considered in relation to the basic financial statements taken as a whole, presents fairly in all material respects the information set forth therein.

We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States), Nordson Corporation’s internal control over financial reporting as of October 31, 2011, based on criteria established in Internal Control-Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission and our report dated December 16, 2011 expressed an unqualified opinion thereon.

Cleveland, Ohio

December 16, 2011

71

Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure

None.

Item 9A. Controls and Procedures

(a) Evaluation of disclosure controls and procedures. Our management, with the participation of the principal executive officer (president and chief executive officer) and the principal financial officer (vice president, chief financial officer), has reviewed and evaluated our disclosure controls and procedures (as defined in the Securities Exchange Act Rule 13a-15e) as of October 31, 2011. Based on that evaluation, our management, including the principal executive and financial officers, has concluded that our disclosure controls and procedures were effective as of October 31, 2011 in ensuring that information required to be disclosed in the reports that we file or submit under the Securities Exchange Act of 1934 is recorded, processed, summarized and reported within the time periods specified in the SEC’s rules and forms and is accumulated and communicated to our management, including the principal executive officer and the principal financial officer, as appropriate to allow timely decisions regarding required disclosure.

(b) Management’s report on internal control over financial reporting. The Report of Management on Internal Control over Financial Reporting and the Report of Independent Registered Public Accounting Firm thereon are set forth in Part II, Item 8 of this Annual Report on Form 10-K.

(c) Changes in internal control over reporting. There were no changes in our internal controls over financial reporting that occurred during the fourth quarter of 2011 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

Item 9B. Other Information

None.

PART III

Item 10. Directors, Executive Officers and Corporate Governance

The information required by this Item is incorporated by reference to the captions “Election of Directors” and “Section 16(a) Beneficial Ownership Reporting Compliance” of our definitive Proxy Statement for the 2012 Annual Meeting of Shareholders. Information regarding Audit Committee financial experts is incorporated by reference to the caption “Election of Directors” of our definitive Proxy Statement for the 2012 Annual Meeting of Shareholders.

Our executive officers serve for a term of one year from date of election to the next organizational meeting of the board of directors and until their respective successors are elected and qualified, except in the case of death, resignation or removal. Information concerning executive officers is contained in Part I of this report under the caption “Executive Officers of the Company.”

We have adopted a code of ethics for all employees and directors, including the principal executive officer, other executive officers, principal finance officer and other finance personnel. A copy of the code of ethics is available free of charge on our Web site at http://www.nordson.com/governance. We intend to satisfy our disclosure requirement under Item 5.05 of Form 8-K regarding any amendment to or waiver of a provision of our code of ethics that applies to our principal executive officer, principal financial officer, principal accounting officer or controller or persons performing similar functions and that relates to any element of the code of ethics definition enumerated in Item 406(b) of Regulation S-K by posting such information on our Web site.

72

Item 11. Executive Compensation

The information required by this Item is incorporated by reference to the captions “Directors Compensation for Fiscal Year 2011,” “Summary Compensation for Fiscal Year 2011,” “Grants of Plan-Based Awards for Fiscal Year 2011,” “Option Exercises and Stock Vested for Fiscal Year 2011,” “Pension Benefits for Fiscal Year 2011,” “Nonqualified Deferred Compensation for Fiscal Year 2011” and “Potential Payments Upon Termination or Change of Control” in our definitive Proxy Statement for the 2012 Annual Meeting of Shareholders.

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

The information required by this Item is incorporated by reference to the caption “Ownership of Nordson Common Shares” in our definitive Proxy Statement for the 2012 Annual Meeting of Shareholders.

Equity Compensation Table

The following table sets forth information regarding equity compensation plans in effect as of October 31, 2011.

Plan category	Number of securities to be issued upon exercise of outstanding options, warrants and rights		Weighted-average exercise price of outstanding options, warrants and rights		Number of securities remaining available for future issuance under equity compensation plans (excluding securities reflected in first reporting column)
Equity compensation plans approved by security holders		1,851		$24.22		1,640
Equity compensation plans not approved by security holders		—		—		—
Total		1,851		$24.22		1,640

The number of Common Shares available for grant is 2.5 percent of the number of Common Shares outstanding as of the first day of each year.

Item 13. Certain Relationships and Related Transactions, and Director Independence

The information required by this Item is incorporated by reference to the caption “Review of Transactions with Related Persons” in our definitive Proxy Statement for the 2012 Annual Meeting of Shareholders.

Item 14. Principal Accountant Fees and Services

The information required by this Item is incorporated by reference to the caption “Fees Paid to Ernst and Young LLP” in our definitive Proxy Statement for the 2012 Annual Meeting of Shareholders.

73

PART IV

Item 15. Exhibits and Financial Statement Schedule

The following are filed as part of this report:

(a) 1. Financial Statements

The following financial statements are included in Part II, Item 8:

Consolidated Statements of Income for each of the three years in the period ending October 31, 2011

Consolidated Balance Sheets as of October 31, 2011 and October 31, 2010

Consolidated Statements of Shareholders’ Equity for each of the three years in the period ending October 31, 2011

Consolidated Statements of Cash Flows for each of the three years in the period ending October 31, 2011

Notes to Consolidated Financial Statements

Reports of Independent Registered Public Accounting Firm

(a) 2. Financial Statement Schedule

Schedule II Valuation and Qualifying Accounts and Reserves for each of the three years in the period ending October 31, 2011.

No other consolidated financial statement schedules are presented because the schedules are not required, because the required information is not present or not present in amounts sufficient to require submission of the schedule, or because the information required is included in the financial statements, including the notes thereto.

(a) 3. Exhibits

The exhibits listed on the accompanying index to exhibits are filed as part of this Annual Report on Form 10-K.

74

Signatures

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

NORDSON CORPORATION

Date: December 16, 2011

By: /s/    GREGORY A. THAXTON

Gregory A. Thaxton

Senior Vice President, Chief Financial Officer

Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.

/s/    MICHAEL F. HILTON	December 16, 2011
Michael F. Hilton
Director, President and
Chief Executive Officer
(Principal Executive Officer)
/s/    GREGORY A. THAXTON	December 16, 2011
Gregory A. Thaxton
Senior Vice President, Chief Financial Officer
(Principal Financial Officer)
(Principal Accounting Officer)
/s/    JOSEPH P. KEITHLEY	December 16, 2011
Joseph P. Keithley
Chairman of the Board
/s/    LEE C. BANKS	December 16, 2011
Lee C. Banks
Director
/s/    RANDOLPH W. CARSON	December 16, 2011
Randolph W. Carson
Director
/s/    DR. DAVID W. IGNAT	December 16, 2011
Dr. David W. Ignat
Director
/s/    MICHAEL J. MERRIMAN, JR.	December 16, 2011
Michael J. Merriman, Jr.
Director
/s/    MARY G. PUMA	December 16, 2011
Mary G. Puma
Director

75

Signatures — Continued

/s/    VICTOR L. RICHEY, JR.	December 16, 2011
Victor L. Richey, Jr.
Director
/s/    WILLIAM L. ROBINSON	December 16, 2011
William L. Robinson
Director

76

Schedule II — Valuation and Qualifying Accounts and Reserves

	Balance at Beginning of Year		Assumed from Acquisitions		Charged to Expense		Deductions		Currency Effects			Balance at End of Year
Allowance for Doubtful Accounts
2009	$	3,067		—		1,998		1,654		317		$	3,728
2010	$	3,728		6		607		901		(87	)	$	3,353
2011	$	3,353		22		977		1,047		6		$	3,311
Inventory Obsolescence and Other Reserves
2009	$	13,133		—		5,654		4,234		1,187		$	15,740
2010	$	15,740		187		4,233		3,061		(297	)	$	16,802
2011	$	16,802		8		3,982		4,850		108		$	16,050

77

NORDSON CORPORATION

Index to Exhibits

(Item 15(a) (3))

Exhibit Number	Description
(3)	Articles of Incorporation and By-Laws
3-a	1989 Amended Articles of Incorporation
3-a-1	Certificate of Amendment to 1989 Amended Articles of Incorporation
3-b	1998 Amended Regulations (incorporated herein by reference to Exhibit 3-b to Registrant’s Annual Report on Form 10-K for the year ended October 31, 2010)
(4)	Instruments Defining the Rights of Security Holders, including indentures
4-a	$400 million Credit Agreement dated July 13, 2007 between Nordson Corporation and various financial institutions (incorporated herein by reference to Exhibit 10.1 to Registrant’s Form 8-K dated July 16, 2007)
4-b	$100 million Senior Note Purchase Agreement dated May 15, 2001 between Nordson Corporation and various insurance companies (incorporated herein by reference to Exhibit 4-c to Registrant’s Annual Report on Form 10-K for the year ended October 31, 2006)
4-c	Note Purchase and Private Shelf Agreement dated February 22, 2008 between Nordson Corporation and Prudential Investment Management, Inc. (incorporated herein by reference to Exhibit 10.1 to Registrant’s Form 8-K dated February 25, 2008)
4-d	Note Purchase and Private Shelf Agreement for $150 million between Nordson Corporation and New York Life Investment Management LLC dated as of June 30, 2011 (incorporated herein by reference to Exhibit 4.1 to Registrant’s Quarterly Report on Form 10-Q for the quarter ended July 31, 2011)
4-e	$500 million Credit Agreement dated December 9, 2011 between Nordson Corporation and various financial institutions (incorporated herein by reference to Exhibit 4.1 to Registrant’s Form 8-K dated December 12, 2011)
(10)	Material Contracts
10-a	Amended and Restated Nordson Corporation 2004 Management Incentive Compensation Plan (incorporated herein by reference to Exhibit 10.1 to Registrant’s Form 8-K dated February 25, 2008)*
10-b	Nordson Corporation Deferred Compensation Plan (incorporated herein by reference to Exhibit 10-b to Registrant’s Annual Report on Form 10-K for the year ended October 31, 2006)*
10-b-1	Nordson Corporation 2005 Deferred Compensation Plan (incorporated herein by reference to Exhibit 10-b-1 to Registrant’s Annual Report on Form 10-K for the year ended October 31, 2010)*
10-b-2	Nordson Corporation 2005 Deferred Compensation Plan (as Amended and Restated Effective January 1, 2009) (incorporated herein by reference to Exhibit 10.01-a to Registrant’s Form 8-K dated December 16, 2008)*
10-c	Indemnity Agreement (incorporated herein by reference to Exhibit 10-c to Registrant’s Annual Report on Form 10-K for the year ended October 31, 2007)*
10-d	Restated Nordson Corporation Excess Defined Contribution Retirement Plan Agreement (incorporated herein by reference to Exhibit 10-d to Registrant’s Annual Report on Form 10-K for the year ended October 31, 2009)*
10-d-1	First Amendment to Nordson Corporation Excess Defined Contribution Retirement Plan (incorporated herein by reference to Exhibit 10-d-1 to Registrant’s Annual Report on Form 10-K for the year ended October 31, 2006)*
10-d-2	Nordson Corporation 2005 Excess Defined Contribution Benefit Plan*
10-d-3	Nordson Corporation 2005 Excess Defined Contribution Retirement Plan (as Amended and Restated Effective January 1, 2009) (incorporated herein by reference to Exhibit 10.01-c to Registrant’s Form 8-K dated December 16, 2008)*

78

Index to Exhibits —Continued

Exhibit Number	Description
10-e	Nordson Corporation Excess Defined Benefit Pension Plan (incorporated herein by reference to Exhibit 10-d to Registrant’s Annual Report on Form 10-K for the year ended October 31, 2009)*
10-e-1	Second Amendment to Nordson Corporation Excess Defined Benefit Pension Plan (incorporated herein by reference to Exhibit 10-e-1 to Registrant’s Annual Report on Form 10-K for the year ended October 31, 2006)*
10-e-2	Nordson Corporation 2005 Excess Defined Benefit Pension Plan (incorporated herein by reference to Exhibit 10-e-2 to Registrant’s Annual Report on Form 10-K for the year ended October 31, 2010)*
10-e-3	Nordson Corporation 2005 Excess Defined Benefit Pension Plan (as Amended and Restated Effective January 1, 2009) (incorporated herein by reference to Exhibit 10.01-b to Registrant’s Form 8-K dated December 16, 2008)*
10-g	Nordson Corporation 1993 Long-Term Performance Plan, as amended March 12, 1998 Agreement (incorporated herein by reference to Exhibit 10-g to Registrant’s Annual Report on Form 10-K for the year ended October 31, 2008)*
10-g-1	Amended and Restated Nordson Corporation 2004 Long-Term Performance Plan (incorporated herein by reference to Exhibit 10.2 to Registrant’s Form 8-K dated February 25, 2008)*
10-h	Nordson Corporation Assurance Trust Agreement (incorporated herein by reference to Exhibit 10-h to Registrant’s Annual Report on Form 10-K for the year ended October 31, 2010)*
10-h-1	Form of Change in Control Retention Agreement between the Registrant and Executive Officers (incorporated herein by reference to Exhibit 10.2 to Registrant’s Form 8-K dated December 16, 2008)*
10-i	Compensation Committee Rules of the Nordson Corporation 2004 Long Term Performance Plan governing directors’ deferred compensation (incorporated herein by reference to Exhibit 10-i to Registrant’s Annual Report on Form 10-K for the year ended October 31, 2010)*
10-j	Compensation Committee Rules of the Nordson Corporation Amended and Restated Nordson Corporation 2004 Long Term Performance Plan governing directors’ deferred compensation (incorporated herein by reference to Exhibit 10-j to Registrant’s Annual Report on Form 10-K for the year ended October 31, 2010)*
10-l	Stock Purchase Agreement between John Greasley, Nordson Corporation and Dage Holdings Limited (incorporated herein by reference to Exhibit 99.3(b) to Registrant’s Form 8-K dated December 19, 2006)
10-m	Employment Agreement between Registrant and Michael F. Hilton (incorporated herein by reference to Exhibit 99.3 to Registrant’s Form 8-K dated December 21, 2009)*
10-n	Employment Agreement (Change in Control Retention Agreement) between Registrant and Michael F. Hilton (incorporated herein by reference to Exhibit 99.4 to Registrant’s Form 8-K dated December 21, 2009)*
10-o	Supplemental Retirement Agreement between the Registrant and Michael F. Hilton (incorporated herein by reference to Exhibit 10-o to Registrant’s Annual Report on Form 10-K for the year ended October 31, 2010)*
10-p	Stock Purchase Agreement by and among VP Acquisition Holdings, Inc., the Stockholders of VP Acquisition Holdings, Inc., the Optionholders of VP Acquisition Holdings, Inc., American Capital, Ltd., as Securityholder Representative, and Nordson Corporation dated as of July 15, 2011 (incorporated herein by reference to Exhibit 4.1 to Registrant’s Quarterly Report on Form 10-Q for the quarter ended July 31, 2011)
(21)	Subsidiaries of the Registrant
(23)	Consent of Independent Registered Public Accounting Firm

79

Index to Exhibits —Continued

Exhibit Number	Description
31.1	Certification pursuant to Rule 13a-14(a)/15d-14(a) of the Securities Exchange Act of 1934 by the Chief Executive Officer, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
31.2	Certification pursuant to Rule 13a-14(a)/15d-14(a) of the Securities Exchange Act of 1934 by the Chief Financial Officer, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
32.1	Certification of CEO pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
32.2	Certification of CFO pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
99-a	Form S-8 Undertakings (Nos. 33-18309 and 33-33481)
101	The following financial information from Nordson Corporation’s Annual Report on Form 10-K for the year ended October 31, 2011, formatted in Extensible Business Reporting Language (XBRL): (i) the Consolidated Statements of Income for the years ended October 31, 2011, 2010 and 2009, (ii) the Consolidated Balance Sheets at October 31, 2011 and 2010, (iii) the Consolidated Statements of Changes in Shareholders’ Equity for the years ended October 31, 2011, 2010 and 2009, (iv) the Consolidated Statements of Cash Flows for the years ended October 31, 2011, 2010 and 2009, and (iv) Notes to Consolidated Financial Statements.

*Indicates management contract or compensatory plan, contract or arrangement in which one or more directors and/or executive officers of Nordson Corporation may be participants.

80

EX-3.A

Exhibit 3-a

NORDSON CORPORATION

1989

AMENDED ARTICLES OF INCORPORATION

FIRST. The name of the Corporation is NORDSON CORPORATION.

SECOND. The place in the State of Ohio where its principal office is located is the City of Amherst, in Lorain County.

THIRD. This Corporation operates for the purpose of creating long-term benefits for all of its constituencies, including shareholders, customers, employees, and the communities in which it exists. In furtherance thereof, the Corporation is authorized:

(a) To manufacture, to purchase, lease, or otherwise acquire, to hold and use, and to sell, lease, or otherwise dispose of, equipment, processes, methods, articles, products, and supplies connected with or relating to the application of thermoplastic adhesives used in packaging, product assembly, and other industrial processes;

(b) To manufacture, to purchase, lease, or otherwise acquire, to hold and use, and to sell, lease, or otherwise dispose of equipment, processes, methods, articles, products, and supplies connected with or relating to the spraying, extrusion, or other handling and application of paints and other coating materials and substances;

(c) To manufacture, to purchase, lease, or otherwise acquire, to hold and use, to sell, lease, or otherwise dispose of, and to deal in or with personal property of any description and any interest therein;

(d) To purchase, lease, or otherwise acquire, to invest in, hold, use, and encumber, and to sell, lease, exchange, transfer, or otherwise equip, maintain, and operate structures and real property of any description and any interest therein;

(e) To borrow money, to issue, sell, and pledge its notes, bonds, and other evidences of indebtedness, to secure any of its obligations by mortgage, pledge, or deed of trust of all or any of its property, and to guarantee and secure obligations of any person, all to the extent necessary, useful, or conducive to carrying out any of the purposes of the Corporation;

(f) To invest its funds in any shares or other securities of another corporation, business or undertaking or of a government, governmental authority, or governmental subdivision; and

(g) To do whatever is deemed necessary, useful, or conducive to carrying out any of the purposes of the Corporation and to engage in any lawful activity for which corporations may be formed under the Ohio General Corporation Law.

FOURTH. The authorized number of shares of the Corporation is 90,000,000, consisting of 10,000,000 Preferred Shares, without par value (the “Preferred Shares”), and 80,000,000 Common Shares, without par value (the “Common Shares”).

DIVISION A Express Terms of Preferred Shares

1. Preferred Shares. With respect to the Preferred Shares, the Directors, without any further action by the shareholders, may, at any time and from time to time, adopt an amendment or amendments to the Articles of Incorporation of the Corporation, in respect of any Preferred Shares which constitute unissued or treasury shares at the time of such adoption, for the purpose of dividing any or all of such Preferred Shares into such series as the Directors shall determine, each of which series shall bear such distinguishing designation as the Directors shall determine and, within the limitations prescribed by the provisions of the Ohio General Corporation Law, fix the express terms of any such series of Preferred Shares, which may include statements specifying:

(a) Dividend rights, which may be cumulative or non-cumulative, at a specified rate, amount, or proportion, with or without further participation rights, and in preference to, junior to, or on a parity in whole or in part with dividend rights of shares of any other class or series:

(b) Liquidation rights, preferences, and price;

(c) Redemption rights and price or prices, if any;

(d) Sinking fund requirements, if any, which may require the Corporation to provide a sinking fund out of earnings or otherwise for the purchase or redemption of such shares or for dividends thereon;

(e) Voting rights, which may be full (not more, however, than one vote per share), limited, or denied, except as otherwise required by law;

(f) Conversion rights, if any, and the conversion rate or rates or price or prices and the adjustments thereof, if any, and all other terms and conditions upon which conversions may be made; and

(g) Restrictions on the issuance of shares of any class or series of the Corporation.

DIVISION B Express Terms of Common Shares

1. The Common Shares shall be subject to the express terms of the Preferred Shares and any series thereof. Each Common Share shall be equal to every other Common Share. The holders of Common Shares shall be entitled to one vote for each share held by them upon all matters presented to the shareholders.

2. No holder of Common Shares, as such, shall have any pre-emptive right to purchase or subscribe for shares of the Corporation, of any class, or other securities of the Corporation, of any class, whether now or hereafter authorized.

FIFTH. The Corporation, by action of its Directors, and without action by its shareholders, may purchase its own shares, of any class or series, in accordance with the provisions of the Ohio General Corporation

Law, either in the open market or at public or private sale, in such manner and amounts, from such holder or holders of outstanding shares of the Corporation, and at such prices as the Directors shall from time to time determine, subject, however, to such limitation or restriction, if any, as may be contained in the express terms of any class or series of shares of the Corporation outstanding at the time of such purchase.

SIXTH. Fair Price or Supermajority Vote Provision.

1. Voting Requirement. Unless both the fair price requirement set forth in paragraph 2 and the other conditions set forth in paragraph 3 have been satisfied, the affirmative vote of the holders of 80% of all outstanding shares of the Corporation entitled to vote in elections of directors, voting together as a single class, shall be required for the authorization or approval of any of the following transactions:

(a) Merger or Consolidation. The merger or consolidation of the Corporation or any of its subsidiaries with or into an interested shareholder (as hereinafter defined).

(b) Disposition of Assets. The sale, lease, pledge, or other disposition, in one transaction or in a series of transactions, from the Corporation or any of its subsidiaries to an interested shareholder, or from an interested shareholder to the Corporation or any of its subsidiaries, of assets having an aggregate fair market value (as hereinafter defined) of $1,000,000 or more.

(c) Issuance or Transfer of Securities. The issuance, sale, or other transfer, in one transaction or in a series of transactions, by the Corporation or any of its subsidiaries to an interested shareholder, or by an interested shareholder to the Corporation or any of its subsidiaries, of securities for cash or other consideration having an aggregate fair market value of $1,000,000 or more.

(d) Liquidation or Dissolution. The liquidation or dissolution of the Corporation proposed by an interested shareholder.

(e) Reclassification or Recapitalization. The reclassification of securities, recapitalization of the Corporation, or other transaction that has the effect of increasing the proportionate share of any class of outstanding securities of the Corporation or any of its subsidiaries beneficially owned (as hereinafter defined) by an interested shareholder or of otherwise diluting the position of any shareholder of the Corporation in comparison with the position of an interested shareholder.

(f) Other Transactions. Any other transaction or series of transactions that is similar in purpose or effect to those referred to in clauses (a) through (e) of this paragraph 1.

This voting requirement shall apply even though no vote, or a lesser percentage vote, may be required by law, by any other provision of these Articles of Incorporation, or otherwise. The term “business combination”, as used in this Article, means any of the transactions referred to in clauses (a) through (f) of this paragraph 1.

2. Fair Price Requirement. The fair price requirement will be satisfied if the consideration to be received in the business combination by the holders of the Corporation’s Common Shares and Preferred Shares, and by the Corporation or any of its subsidiaries, as the case may be, meets the following tests:

(a) Amount of Consideration to Be Received by Shareholders. If any holder of the Corporation’s Common Shares or Preferred Shares, other than an interested shareholder, is to receive consideration in the business combination for any of the shares, the aggregate amount of cash and fair market value of any other consideration to be received per share may not be less than the sum of - -

(A) the greater of (i) the highest per share price, including commissions, paid by the interested shareholder for any shares of the same class or series during the two-year period ending on the date of the most recent purchase by the interested shareholder of any such shares, (ii) the highest sales price reported for shares of the same

class or series traded on a national securities exchange or in the over-the-counter market during the one year period preceding the first public announcement of the proposed business transaction, or (iii) in the case of Preferred Shares, the amount of the per share liquidation preference; plus

(B) interest on the per share price calculated at the prime rate for unsecured short-term loans in effect at AmeriTrust Company, Cleveland, Ohio, on the date on which the interested shareholder first became an interested shareholder, compounded annually from that date until the business combination is consummated, less the per share amount of cash dividends payable to holders of record on record dates in the interim, up to the amount of such interest.

For purposes of this clause (a), per share amounts will be adjusted for any stock dividend, stock split, or similar transaction.

(b) Form of Consideration to Be Received by Shareholders. The consideration to be received by holders of the Corporation’s Common Shares or Preferred Shares must be in cash or in the same form as was previously paid by the interested shareholder for shares of the same class or series; if the interested shareholder previously paid for such shares with different forms of consideration, the consideration to be received by the holders of the shares must be in cash or in the same form as was previously paid by the interested shareholder for the largest number of shares previously acquired by it. The provisions of this clause (b) are not intended to diminish the aggregate amount of cash and fair market value of any other consideration that any holder of the Corporation’s Common Shares or Preferred Shares is otherwise entitled to receive upon the liquidation or dissolution of the Corporation, under the terms of any contract with the Corporation or an interested shareholder, or otherwise.

(c) Consideration to Be Received by the Corporation or Any of Its Subsidiaries. If the Corporation or any of its subsidiaries is to

receive consideration in the business combination, the consideration to be received must be fair to the Corporation or its subsidiaries, as determined by the continuing directors (as hereinafter defined).

3. Other Conditions. The other conditions will be satisfied if, from the time the interested shareholder became an interested shareholder until the completion of the business combination, each of the following has at all times been and continues to be true:

(a) Continuing Directors. The Corporation’s Board of Directors has included at least five continuing directors. The term “continuing director”, as used in this Article, means an individual who (i) either was a director of the Corporation at the time the interested shareholder became an interested shareholder or was subsequently nominated or elected by the other continuing directors and (ii) is not an affiliate or associate (as hereinafter defined) of the interested shareholder. All actions required or permitted to be taken by the continuing directors under this Article shall be taken by the unanimous written consent of all continuing directors or by the vote of a majority of the continuing directors at a meeting convened upon such notice as would be required for a meeting of the full Board of Directors.

(b) No Acquisition of Additional Shares. The interested shareholder has not become the beneficial owner (as hereinafter defined) of any additional Common Shares or Preferred Shares of the Corporation, except (i) as part of the transaction that resulted in the interested shareholder becoming an interested shareholder, (ii) upon conversion of securities previously acquired by it, or (iii) pursuant to a stock dividend or stock split.

(c) No Special Benefits to the Interested Shareholder. The interested shareholder has not received, directly or indirectly, the benefit (except proportionately as a shareholder) of any loan, advance, guaranty, pledge, or other financial assistance, tax credit or deduction, or other benefit from the Corporation or any of its subsidiaries.

(d) Proxy Statement. A proxy or information statement describing the business combination and complying with the requirements of the Securities Exchange Act of 1934, as amended, and the rules and regulations under it (or any subsequent provisions replacing that Act and the rules and regulations under it) has been mailed at least 30 days prior to the completion of the business combination to the holders of all outstanding shares of the Corporation entitled to vote in elections of directors, whether or not shareholder approval of the business combination is required. If deemed advisable by the continuing directors, the proxy or information statement shall contain a recommendation by the continuing directors as to the advisability (or inadvisability) of the business combination and/or an opinion by an investment banking firm, selected by the continuing directors and retained at the expense of the Corporation, as to the fairness (or unfairness) of the business combination to holders of the Corporation’s Common Shares or Preferred Shares other than the interested shareholder.

(e) No Omission or Reduction of Dividends. Except to the extent approved by the continuing directors, there has been no (i) failure to pay in full, when and as due, any dividends on the Corporation’s Preferred Shares or (ii) failure to pay or reduction in the annual rate of dividends on the Corporation’s Common Shares, whether directly or indirectly through a reclassification, recapitalization, or otherwise.

(f) No Change in Business or Capital Structure. Except to the extent approved by the continuing directors, there has been no material change in (i) the nature of the business conducted by the Corporation and its subsidiaries or (ii) the capital structure of the Corporation, including but not limited to any change in the number of outstanding Common Shares, the number and series of any outstanding Preferred Shares, and the types and aggregate principal amount of any outstanding debt securities, except for changes resulting from the exercise of previously issued options, warrants, or other rights, the conversion of previously issued shares, the issuance of previously authorized debt securities, and the mandatory redemption or retirement of debt securities in accordance with their terms.

4. Definitions. As used in this Article Sixth:

(a) “Affiliate” and “Associate”. The terms “affiliate” and “associate” have the meanings ascribed to them in Rule 12b-2 of the General Rules and Regulations under the Securities and Exchange Act of 1934, as in effect on February 21, 1984.

(b) “Beneficial Ownership”. A person or entity is deemed to “beneficially own” shares if, directly or indirectly through any contract, understanding, arrangement, relationship, or otherwise, that person or entity has or shares (i) the power to vote or to dispose, or to direct the voting or disposition, of the shares or (ii) the right to acquire the shares pursuant to any contract or arrangement, upon the exercise of any option, warrant, or right, upon the conversion of any other shares, upon revocation of a trust, or otherwise. The person or entity is also deemed to “beneficially own” shares that are beneficially owned by affiliates and associates of that person or entity.

(c) “Business Combination”. The term “business combination” has the meaning ascribed to it in paragraph 1 of this Article.

(d) “Continuing Directors”. The term “continuing directors” has the meaning ascribed to it in clause (a) of paragraph 3 of this Article.

(e) “Fair Market Value”. The term “fair market value” means, (i) in the case of securities listed on a national securities exchange or quoted in the National Association of Securities Dealers Automated Quotation Systems (NASDAQ), the highest sales price reported for securities of the same class or series traded on the national securities exchange or in the over-the-counter market during the preceding 30-day period, or if no such report or quotation is available, the value determined by the continuing directors, and (ii) in the case of other securities and of consideration other than securities or cash, the value determined by the continuing directors.

(f) “Interested Shareholder”. The term “interested shareholder” means any person or entity that, together with its affiliates and associates, is at the time of, or has been within the two-year period immediately prior to, the consummation of a business combination the beneficial owner of shares having at least 20% of the aggregate voting power of all outstanding shares of the Corporation entitled to vote in elections of directors. The term “interested shareholder”, for purposes of the requirements and conditions of this Article, also includes the affiliates and associates of the interested shareholder. Not-withstanding the foregoing, the Corporation and its subsidiaries, and any profit-sharing, employee stock ownership, employee pension, or other employee benefit plan of the Corporation or any subsidiary, are not deemed to be “interested shareholders”.

5. No Effect on Fiduciary Obligations of Interested Shareholders. Nothing contained in this Article shall be construed to relieve any interested shareholder from any fiduciary obligations imposed by law.

6. Amendment, Repeal, etc. Notwithstanding any other provision of these Articles of Incorporation or the Regulations of the Corporation (and notwithstanding the fact that a lesser percentage may be required by law, these Articles of Incorporation, or the Regulations of the Corporation), the affirmative vote of the holders of 80% of the outstanding shares of the Corporation entitled to vote in elections of directors, voting together as a single class, shall be required to amend or repeal, or adopt any provisions inconsistent with, this Article Sixth.

SEVENTH. These 1989 Amended Articles of Incorporation supersede the existing 1986 Amended Articles of Incorporation of the Corporation.

EX-3.A.1

Exhibit 3-a-1

NORDSON CORPORATION

CERTIFICATE OF AMENDMENT

TO

1989 AMENDED

ARTICLES OF INCORPORATION

THOMAS L. MOORHEAD, Vice President – Law, and WILLIAM D. GINN, Secretary, of Nordson Corporation, an Ohio corporation (the “Corporation”), hereby certify that the following resolution amending the Corporation’s 1989 Amended Articles of Incorporation for the purpose of increasing the number of authorized Common Shares from 80,000,000 to 160,000,000 was adopted at a meeting of the shareholders of the Corporation duly called and held on March 10, 1992 at which a quorum of shareholders was present in person or by proxy, with the affirmative vote of holders of shares entitling them to exercise two-thirds of the voting power of the Corporation on such proposal:

“RESOLVED, that Article FOURTH of the Corporation’s 1989 Amended Articles of Incorporation be amended by deleting it in its entirety and replacing it with the following:

FOURTH. The authorized number of shares of the Corporation is 170,000,000, consisting of 10,000,000 Preferred Shares, without par value (the “Preferred Shares”), and 160,000,000 Common Shares, without par value (the “Common Shares”).

IN WITNESS WHEREOF, Thomas L. Moorhead, Vice President – Law, and William D. Ginn, Secretary, of the Corporation have signed their names on March 25, 1992.

Thomas L. Moorhead, Vice
President – Law

William D. Ginn, Secretary

EX-10.D.2

Exhibit 10-d-2

NORDSON CORPORATION

2005 EXCESS DEFINED CONTRIBUTION RETIREMENT PLAN

Nordson Corporation hereby establishes, effective as of January 1, 2005, the Nordson Corporation 2005 Excess Defined Contribution Retirement Plan (“Plan”), to supplement the retirement benefits of certain salaried employees, designated by the Compensation Committee of the Board of Directors (the “Compensation Committee”) as permitted by Section 3(36) of the Employee Retirement Income Security Act of 1974 (“ERISA”), with respect to compensation earned for services performed by such employees for the Company or vested after December 31, 2004. The Nordson Corporation Excess Defined Contribution Plan established effective as of November 1, 1985, and amended and restated in its entirety effective as of November 1, 1987 (the “1985 Plan”) supplements the retirement benefits of such employees with respect to compensation earned for services performed for the Company and vested prior to January 1, 2005. No provisions of this Plan shall alter, affect, or amend any provisions of the 1985 Plan applicable to compensation earned, deferred, and vested on or before December 31, 2004.

ARTICLE I

DEFINITIONS

1.1 Definitions. The following words and phrases shall have the meanings indicated, unless a different meaning is plainly required by the context:

(a) The term “Company” shall mean Nordson Corporation, an Ohio corporation, its corporate successors and the surviving corporation resulting from any merger of Nordson Corporation with any other corporation or corporations.

(b) The term “Employee” shall mean any person employed by the Company on a salaried basis who is designated by the Compensation Committee to participate in the Plan and who has not waived participation in the Plan.

(c) The term “Plan” shall mean the excess defined contribution retirement Plan as set forth herein, together with all amendments hereto, which Plan shall be called the “Nordson Corporation 2005 Excess Defined Contribution Retirement Plan.”

(d) The term “Employees’ Savings Trust Plan” shall mean the Nordson Employees’ Savings Trust Plan in effect on the date of an Employee’s retirement, death or other termination of employment.

(e) The term “Code” shall mean the Internal Revenue Code of 1986, as amended from time to time. Reference to a section of the Code shall include such section and any comparable section or sections of any future legislation that amends, supplements, or supersedes such section.

1

(f) The term “Non-Union ESOP” shall mean the Nordson Corporation Non-Union Employees Stock Ownership Plan and Trust in effect on the date of an Employee’s retirement, death, or other termination of employment.

(g) The term “Compensation” of an Employee for any period shall mean compensation as determined under the Employees’ Savings Trust Plan or the Non-Union ESOP, as the case may be, increased, however, by amounts deferred to any non-qualified deferred compensation plan in which the Employee participates.

1.2 Additional Definitions. All other words and phrases used herein shall have the meanings given them in the Employees’ Savings Trust Plan, unless a different meaning is clearly required by the context.

ARTICLE II

EXCESS RETIREMENT BENEFIT

2.1 Eligibility. An Employee who is a Participant in the Employees’ Savings Trust Plan and or the Non-Union ESOP whose benefits under either Plan have been limited by Section 401(a)(17), Section 401(k)(3), Section 401(m), Section 402(g)(1) or Section 415 of the Code, including limitations on tax-deferred and employer-matching contributions, shall be eligible for an excess retirement benefit determined by Section 2.2; provided, however, that an Employee who is a participant in the 2005 Nordson Corporation Deferred Compensation Plan with respect to any year shall not be entitled to an excess retirement benefit under this Plan with respect to such year. In addition, in the event that the Tax Deferred Contributions of an eligible Employee under the Employees’ Savings Trust Plan are limited by the provisions of Section 401(a)(17), Section 401(k)(3), Section 415 or 402(g)(1) of the Code, such eligible Employee may elect to defer payment of a portion of his compensation under this Plan to make up for that portion of his compensation that otherwise could have been made as Tax Deferred Contributions but for these limitations. The deferred payment election shall be made in writing by the eligible Employee and delivered to the Company prior to the beginning of a Plan Year. The election shall be irrevocable until the first day of the next Plan Year. Notwithstanding any of the foregoing, any reference in Section 2.1 and 2.2 hereunder to the limitations imposed by Section 402(g)(1) of the Code shall automatically include any amendments to such limitation to reflect cost of living increases.

2.2 Amount. The excess retirement benefit payable to an eligible Employee or his beneficiary shall be an amount equal to the sum of:

(a) the amount, if any, of the limited contributions an eligible Employee elected to defer in Section 2.1;

(b) an amount that, when added to the vested interest of such Employee in Employer Matching Contributions under the Employees’ Savings Trust Plan, equals the value his vested interest in Employer Matching Contributions would have been on the date distribution commences under the Employees’ Savings Trust Plan if the limitations of Section 401(a)(17), Section 401(k)(3), Section 401(m), Section 415, and Section 402(g)(1) of the Code had not been in effect; plus

2

(c) an amount, if any, equal to the value of the vested interest an eligible Employee would have been entitled to receive under the Non-Union ESOP if the limitations of Section 401(a)(17) or Section 415 of the Code had not been in effect.

In determining the value that an eligible Employees’ interest under the Employees’ Savings Trust Plan would have been if the limitations of Section 401(a)(17), Section 401(k)(3), Section 401(m), Section 415, and Section 402(g)(1) of the Code had not been in effect; as described in (b) above, it shall be assumed that:

(i) his Tax Deferred Contributions and his Employer Matching Contributions under the Employees’ Savings Trust Plan were deposited on the dates such contributions otherwise would have been made to the Employees’ Savings Trust Plan and held in the guaranteed income contract maintained as part of the Guaranteed Fund that holds the largest amount of assets from the Employees’ Savings Trust Plan for such year; and

(ii) the interest rate actually paid with respect to such guaranteed income contract under the Guaranteed Fund for the Employees’ Savings Trust Plan was paid with respect to the contributions that would otherwise have been made under the Plan; and

(iii) such interest was reinvested in the Guaranteed Fund for the Employees’ Savings Trust Plan for the Employees’ Savings Trust Plan on the date and in the same manner as actual interest under the Guaranteed Fund.

In determining the value that an eligible Employee’s interest under the Non-Union ESOP would have been if the limitations of Section 401(a)(17) and Section 415 of the Code had not been in effect as described in (c) above, it shall be assumed that his Employer contributions under the Non-Union ESOP, if any, were deposited on the dates such contributions otherwise would have been made to the Non-Union ESOP, and invested and reinvested in Company stock in the same manner and at the same time as the actual assets under the Non-Union ESOP during such period.

2.3 Payments. All payments under the Plan to an eligible Employee or his beneficiary shall be made by the Company from its general assets. The payment of the excess retirement benefits hereunder shall be made in a lump sum as soon as administratively feasible, but not more than seven months, after the Employee’s separation from service with the Company. In no event, however, shall the payment of a benefit under this Plan with respect to a “key employee” of the Company, within the meaning of Section 416(i)(1) of the Code, be made within six months following his separation from service with the Company, except in the event of death. The payment of excess retirement benefits hereunder that are attributable to amounts described in Section 2.2 (a) and (b) hereof shall be payable in cash, whereas payment of any excess retirement benefits hereunder that are attributable to amounts described in Section 2.2 (c) hereof shall be payable only in shares in Company stock.

3

2.4 Withdrawals. An Employee, upon demonstration of financial hardship to the Compensation Committee, may withdraw from a Plan an amount in cash not to exceed the lesser of $5,000.00 or fifty (50%) percent of the Employee’s benefit in the Plan which is attributable to amounts described in Section 2.2(a) and (b) hereof. An Employee shall be limited to one withdrawal in any one Plan Year as such is defined in the Employees’ Savings Trust Plan; provided, however, that the amount of the withdrawal may not exceed the amount necessary to satisfy the financial hardship plus amounts necessary to pay taxes reasonably anticipated as a result of the withdrawal, after taking into account the extent to which such hardship is or may be relieved through reimbursement or compensation by insurance or otherwise or by liquidation of the Employee’s assets (to the extent such liquidation would not itself cause severe financial hardship). The term “financial hardship” shall mean any extraordinary or unforeseeable need for funds arising from events beyond the Employee’s control that meets the definition of an “unforeseeable emergency” within the meaning of Section 409A(a)(2)(B)(ii) of the Code.

ARTICLE III

ADMINISTRATION

The Compensation Committee shall be responsible for the general administration of the Plan, for carrying out its provisions, and for determining the amount of any required excess benefit payments, and shall have powers necessary to administer and carry out the Plan. Actions taken and decisions made by the Compensation Committee shall be final and binding upon all interested parties. In accordance with the provisions of Section 503 of ERISA, the Compensation Committee shall provide a procedure for handling claims for benefits under the Plan. The procedure shall be in accordance with regulations issued by the Secretary of Labor and provide adequate written notice within a reasonable period of time with respect to a claim denial. The procedure shall also provide for a reasonable opportunity for a full and fair review by the Compensation Committee of any claim denial. The Compensation Committee shall be the “administrator” for purposes of ERISA.

ARTICLE IV

AMENDMENT AND TERMINATION

The Company reserves the right to amend or terminate the Plan at any time by action of its Board of Directors. No such action shall however adversely affect any Employee or his beneficiary who is receiving excess retirement benefits under the Plan, unless an equivalent benefit is provided under another Plan or program sponsored by the Company. The Company specifically reserves the right to amend the Plan to conform the provisions of the Plan to the guidance issued by the Secretary of the Treasury with respect to Section 409A of the Code, in accordance with such guidance.

4

ARTICLE V

MISCELLANEOUS

5.1 Non-Alienation of Retirement Rights or Benefits. An Employee or beneficiary is not permitted to assign, transfer, alienate or otherwise encumber the right to receive payments under the Plan. Any attempt to do so or to permit the payments to be subject to garnishment, attachment or levy of any kind will permit the Company to make payments directly to and for the benefit of the Employee, his beneficiary or any other person. Each such payment may be made without the intervention of a guardian. The receipt of the payee shall constitute a complete acquittance to the Company with respect to the payment. The Company shall have no responsibility for the proper application of any payment.

5.2 Incapacity. The Company shall be permitted to make payments in the same manner as provided for in Section 5.1 if in the judgment of the Compensation Committee, an Employee or his beneficiary is incapable of attending to his financial affairs.

5.3 Plan Non-Contractual. This Plan shall not be construed as a commitment or agreement on the part of any person employed by the Company to continue his employment with the Company, nor shall it be construed as a commitment on the part of the Company to continue the employment or the annual rate of compensation of any such person for any period. All Employees shall remain subject to discharge to the same extent as if the Plan had never been established.

5.4 Interest of Employee. The obligation of the Company under the Plan to provide an Employee or his beneficiary with an excess retirement benefit merely constitutes the unsecured promise of the Company to make payments as provided herein. No person shall have any interest in, or a lien or prior claim upon, any property of the Company.

5.5 Controlling Status. No Employee or beneficiary shall be eligible for a benefit under the Plan unless such Employee is an Employee on the date of his retirement, death, or other termination of employment.

5.6 Claims of Other Persons. The provisions of the Plan shall in no event be construed as giving any person, firm or corporation any legal or equitable right as against the Company, its officers, employees, or directors, except any such rights as are specifically provided for in the Plan or are hereafter created in accordance with the terms and provisions of the Plan.

5.7 No Competition. The right of any Employee or his beneficiary to an excess retirement benefit will be terminated, or, if payment thereof has begun, all further payments will be discontinued and forfeited in the event the Employee or his beneficiary at any time subsequent to the effective date hereof:

(a) wrongfully discloses any secret process or trade secret of the Company or any of its subsidiaries, or

(b) becomes involved directly or indirectly as an officer, trustee, employee, consultant, partner, or substantial shareholder, on his own account or in any other capacity, in a business venture that within the two-year period following his retirement or termination of employment, the Compensation Committee determines to be competitive with the Company.

5

5.8 Severability. The invalidity or unenforceability of any particular provision of the Plan shall not effect any other provision hereof, and the Plan shall be construed in all respects as if such invalid or unenforceable provision were omitted therefrom.

5.9 Governing Law. The provisions of the Plan shall be governed and construed in accordance with the laws of the State of Ohio.

5.10 No Acceleration of Benefits. The acceleration of the time or schedule of any payment under the Plan is not permitted, except as provided in regulations by the Secretary of the Treasury.

5.11 Compliance with Section 409A of the Code. The Plan is intended to provide for the deferral of compensation in accordance with the provisions of Section 409A of the Code, for compensation earned, vested, or deferred after December 31, 2004. Notwithstanding any provisions of the Plan or any election form to the contrary, no otherwise permissible election under the Plan shall be given effect that would result in the taxation of any amount under Section 409A of the Code. To the extent permitted in guidance issued by the Secretary of the Treasury and in accordance with procedures established by the Compensation Committee, an Employee may be permitted to terminate participation in the Plan or cancel an election with respect to deferral elections made under the Plan prior to January 1, 2005.

EXECUTED this                      day of                     , 2004.

NORDSON CORPORATION
By:
	Title:

6

EX-21

Exhibit 21

NORDSON CORPORATION

Subsidiaries of the Registrant

The following table sets forth the subsidiaries of the Registrant (each of which is included in the Registrant’s consolidated financial statements), and the jurisdiction under the laws of which each subsidiary was organized.

Jurisdiction                 of Incorporation	Name
INTERNATIONAL:
Australia	Nordson Australia Pty. Limited
Austria	Nordson Osterreich GmbH
Belgium	Nordson Benelux S.A./N.V.
Belgium	Constructiewerkhuizen G. Verbruggen NV(1)
Brazil	Nordson do Brasil Industria e Comercio Ltda.
Canada	Nordson Canada Limited
China	Nordson (China) Co., Ltd.
China	Dage Test Systems (Suzhou) Co. Ltd.(2)
China	Dage Trading (Suzhou) Co. Ltd.(2)
Colombia	Nordson Andina Limitada
Czech Republic	Nordson CS, spol.s.r.o.
Denmark	Nordson Danmark A/S
Finland	Nordson Finland Oy
France	Nordson France S.A.S.
France	Dosage 2000 S.A.R.L.(3)
Germany	Nordson Deutschland GmbH(4)
Germany	Nordson Engineering GmbH(5)
Germany	Dage Deutschland GmbH(6)
Germany	Picodostec GmbH(7)
Germany	Nordson Holdings S.a.r.l. & Co. KG(8)
Germany	Nordson EFD Deutschland GmbH(9)
Hong Kong	Nordson Application Equipment, Inc.
Hong Kong	Nordson Asia Pacific, Ltd.
India	Nordson India Private Limited
Italy	Nordson Italia S.p.A.
Japan	Nordson K.K.
Japan	Nordson Asymtek K.K.
Japan	Dage Japan Co., Ltd.(2)
Luxembourg	Nordson European Holdings Luxembourg S.a.r.l.
Luxembourg	Nordson S.a.r.l.(1)
Luxembourg	Nordson Luxembourg S.a.r.l.(10)
Malaysia	Nordson (Malaysia) Sdn. Bhd.
Mexico	Nordson de Mexico, S.A. de C.V.
The Netherlands	Nordson Benelux B.V.
The Netherlands	Nordson B.V.
New Zealand	Nordson New Zealand
Norway	Nordson Norge A/S
Poland	Nordson Polska Sp.z.o.o.
Portugal	Nordson Portugal Equipamento Industrial, Lda.
Russia	Nordson Russia Limited Liability Company
Singapore	Nordson S.E. Asia (Pte.) Ltd.
Singapore	Dage (SEASIA) Pte. Ltd.(2)
South Africa	Nordson SA(11)

81

Jurisdiction                 of Incorporation	Name
INTERNATIONAL:
South Korea	Nordson Korea
Spain	Nordson Iberica, S.A.
Sweden	Nordson AB
Switzerland	Nordson (Schweiz) A.G.(12)
United Kingdom	Nordson (U.K.) Limited
United Kingdom	Dage Holdings Limited
United Kingdom	Dage Precision Industries Ltd.(6)

DOMESTIC:
California	Asymptotic Technologies, Inc. dba: Nordson Asymtek
California	March Plasma Systems, Inc. dba: Nordson March
California	Dage Precision Industries, Inc.(13) dba: Nordson Dage
California	YESTech, Inc. dba: Nordson YESTech
Colorado	Value Plastics, Inc.(14)
Delaware	VP Acquisition Holding, Inc.(15)
Ohio	Nordson U.S. Trading Company
Rhode Island	Nordson EFD LLC.
Rhode Island	EFD, International, Inc.
Minnesota	Micromedics, Inc(15)
Ohio	Nordson England L.L.C.
Ohio	Nordson Medical Corporation

Ownership Legend

(1) Owned by Nordson Luxembourg S.a.r.l.

(2) Owned by Dage Precision Industries Ltd.; fka Dage Arctek

(3) Owned by Nordson Corporation and Nordson EFD L.L.C.

(4) Owned by Nordson Engineering GmbH and Nordson Holdings S.a.r.l. & Company KG

(5) Owned by Nordson Holdings S.a.r.l. & Company KG

(6) Owned by Nordson England L.L.C.

(7) Owned by Nordson Deutschland GmbH

(8) Owned by Nordson S.a.r.l. and Nordson Luxembourg S.a.r.l.

(9) Owned by Nordson Deutschland GmbH; previously known as G L T Gesellschaft für Lottechnik mbH; name change effective April 2011

(10) Owned by Nordson European Holdings Luxembourg S.ar.l.

(11) Previously known as MLT Systems Holdings (Pty.) Limited; name changed effective June 2011

(12) Owned by Nordson Benelux S.A./N.V.

(13) Owned by Dage Precision Industries Ltd.

(14) Owned by VP Acquisition Holding, Inc.

(15) Owned by Nordson Medical Corporation

82

EX-23

Exhibit 23

NORDSON CORPORATION

Consent of Independent Registered Public Accounting Firm

We consent to the incorporation by reference in the following Registration Statements:

1. Registration Statement (Form S-8 No. 333-167406) pertaining to the Nordson Employees’ Savings Trust Plan and Nordson Hourly-Rated Employees’ Savings Trust Plan;

2. Registration Statement (Form S-8 No. 33-18309) pertaining to the Nordson Employees’ Savings Trust Plan;

3. Registration Statement (Form S-8 No. 33-33481) pertaining to the Nordson Hourly-Rated Employees’ Savings Trust Plan;

4. Registration Statement (Form S-8 No. 33-67780) pertaining to the Nordson Corporation 1993 Long-Term Performance Plan; and

5. Registration Statement (Form S-8 No. 333-119399) pertaining to the Nordson Corporation 2004 Long-Term Performance Plan

of our reports dated December 16, 2011, with respect to the consolidated financial statements and schedule of Nordson Corporation and the effectiveness of internal control over financial reporting of Nordson Corporation included in this Annual Report (Form 10-K) of Nordson Corporation for the year ended October 31, 2011.

Cleveland, Ohio

December 16, 2011

84

EX-31.1

EXHIBIT 31.1

CERTIFICATION PURSUANT TO RULE 13a-14(a)/15d-14(a) OF THE SECURITIES EXCHANGE ACT OF 1934, AS ADOPTED PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Michael F. Hilton, certify that:

1.  I have reviewed this Annual Report on Form 10-K of Nordson Corporation;

2.  Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.  Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.  The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a)  designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b)  designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c)  evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d)  disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5.  The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of registrant’s board of directors (or persons performing the equivalent functions):

a)  all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting that are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b)  any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: December 16, 2011

/s/    MICHAEL F. HILTON

Michael F. Hilton

President and Chief Executive Officer

85

EX-31.2

EXHIBIT 31.2

CERTIFICATION PURSUANT TO RULE 13a-14(a)/15d-14(a) OF THE SECURITIES EXCHANGE ACT OF 1934, AS ADOPTED PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Gregory A. Thaxton, certify that:

1.  I have reviewed this Annual Report on Form 10-K of Nordson Corporation;

2.  Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.  Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.  The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a)  designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b)  designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c)  evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d)  disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5.  The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of registrant’s board of directors (or persons performing the equivalent functions):

a)  all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting that are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b)  any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: December 16, 2011

/s/    GREGORY A. THAXTON

Gregory A. Thaxton

Senior Vice President, Chief Financial Officer

86

EX-32.1

EXHIBIT 32.1

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Annual Report of Nordson Corporation (the “Company”) on Form 10-K for the year ended October 31, 2011, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Michael F. Hilton, president and chief executive officer of the Company, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

(1) The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

/s/    MICHAEL F. HILTON

Michael F. Hilton

President and Chief Executive Officer

December 16, 2011

87

EX-32.2

EXHIBIT 32.2

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Annual Report of Nordson Corporation (the “Company”) on Form 10-K for the year ended October 31, 2011, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Gregory A. Thaxton, vice president, chief financial officer of the Company, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

(1) The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

/s/    GREGORY A. THAXTON

Gregory A. Thaxton

Senior Vice President, Chief Financial Officer

December 16, 2011

88

EX-99.A

Exhibit 99-a

For the purposes of complying with the amendments to the rules governing Form S-8 (effective July 13, 1990) under the Securities Act of 1933, the undersigned Registrant hereby undertakes as follows, which undertaking shall be incorporated by reference into Registrant’s Registration Statements on Form S-8 Nos; 33-18309 (Employees Savings Trust Plan); and 33-33481 (Hourly-Rated Employees Savings Trust Plan):

Insofar as indemnification for liabilities arising under the Securities Act of 1933 (the “Act”) may be permitted to directors, officers and controlling persons of the Registrant pursuant to the foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred or paid by a director, officer or controlling person of the Registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the Registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Act and will be governed by the final adjudication of such issue.

XML

Capital shares (Tables)

12 Months Ended

Oct. 31, 2011

Capital shares (Tables) [Abstract]

Capital shares

Year	Number of Shares		Total Amount		Average per Share
2011		3,024	$	134,163	$	44.37
2010		697	$	22,047	$	31.63
2009		394	$	6,826	$	17.31

XML

Contingencies (Details) (USD $) In Thousands, unless otherwise specified	Oct. 31, 2011	Oct. 31, 2010
Contingencies (Textuals) [Abstract]
Accrual for the ongoing operation, maintenance and monitoring obligation at the Site	$ 795	$ 885

XML

Retirement, pension and other postretirement plans (Details 1) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Oct. 31, 2011	Oct. 31, 2010
Pension plan, United States [Member]
Summary of changes in accumulated other comprehensive (gain) loss
Balance at beginning of year	$ 126,144	$ 124,496
Net (gain) loss arising during the year	20,917	15,787
Prior service cost (credit) arising during the year	5	643
Net gain (loss) recognized during the year	(7,438)	(6,181)
Settlement loss		(8,022)
Prior service credit (cost) recognized during the year	(666)	(579)
Balance at end of year	138,962	126,144
Pension plan International [Member]
Summary of changes in accumulated other comprehensive (gain) loss
Balance at beginning of year	17,500	9,569
Net (gain) loss arising during the year	(1,773)	8,319
Prior service cost (credit) arising during the year	(1,210)
Net gain (loss) recognized during the year	(858)	(369)
Settlement loss		(190)
Prior service credit (cost) recognized during the year	(5)	(49)
Exchange rate effect during the year	82	220
Balance at end of year	$ 13,736	$ 17,500

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Significant accounting policies (Details 1)	12 Months Ended
	Oct. 31, 2011 Year
Patent/technology costs [Member]
Weighted average useful lives for each major category of amortizable intangible assets
Weighted average useful lives for amortizable intangible assets	13.5
Customer relationships [Member]
Weighted average useful lives for each major category of amortizable intangible assets
Weighted average useful lives for amortizable intangible assets	19.5
Noncompete agreements [Member]
Weighted average useful lives for each major category of amortizable intangible assets
Weighted average useful lives for amortizable intangible assets	7.4
Trade names [Member]
Weighted average useful lives for each major category of amortizable intangible assets
Weighted average useful lives for amortizable intangible assets	18.1

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Income taxes (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Oct. 31, 2011	Oct. 31, 2010	Oct. 31, 2009
Current:
U.S. federal	$ 53,983	$ 9,811	$ 14,370
State and local	2,029	29	858
Foreign	35,469	26,601	13,581
Total current	91,481	36,441	28,809
Deferred:
U.S. federal	1,851	34,097	7,281
State and local	23	(2,771)	906
Foreign	(1,158)	(4,496)	(4,132)
Total deferred	716	26,830	4,055
Total income tax expense	$ 92,197	$ 63,271	$ 32,864

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Retirement, pension and other postretirement plans (Details 2) (USD $) In Thousands, unless otherwise specified	Oct. 31, 2011	Oct. 31, 2010
Pension plan, United States [Member]
For all plans:
Accumulated benefit obligation	$ 261,767	$ 223,966
For plans with benefit obligations in excess of plan assets:
Projected benefit obligation	268,949	237,370
Accumulated benefit obligation	261,767	223,966
Fair value of plan assets	184,701	175,864
Pension plan International [Member]
For all plans:
Accumulated benefit obligation	56,529	55,865
For plans with benefit obligations in excess of plan assets:
Projected benefit obligation	64,945	60,050
Accumulated benefit obligation	54,749	49,631
Fair value of plan assets	$ 30,185	$ 23,047

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Leases (Details 2) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Oct. 31, 2011	Oct. 31, 2010	Oct. 31, 2009
Leases (Textuals) [Abstract]
Rent expense for all operating leases	$ 12,292	$ 12,266	$ 11,801

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Goodwill and intangible assets (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Oct. 31, 2011
Summary of changes in the carrying amount of goodwill
Balance at October 31, 2010	$ 347,326
Acquisitions/Adjustment	201,000
Currency effect	(500)
Balance at October 31, 2011	547,826
Adhesive Dispensing Systems [Member]
Summary of changes in the carrying amount of goodwill
Balance at October 31, 2010	33,783
Acquisitions/Adjustment	8,638
Currency effect	(459)
Balance at October 31, 2011	41,962
Advanced Technology Systems [Member]
Summary of changes in the carrying amount of goodwill
Balance at October 31, 2010	313,543
Acquisitions/Adjustment	192,362
Currency effect	(41)
Balance at October 31, 2011	505,864
Industrial Coating Systems [Member]
Summary of changes in the carrying amount of goodwill
Balance at October 31, 2010	0
Acquisitions/Adjustment	0
Currency effect	0
Balance at October 31, 2011	$ 0

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Quarterly financial data (unaudited) (Tables)

12 Months Ended

Oct. 31, 2011

Quarterly financial data (Tables) [Abstract]

Quarterly financial data

	First		Second		Third		Fourth
2011:
Sales	$	270,962	$	318,924	$	312,255	$	331,018
Gross margin		166,171		197,752		188,050		196,459
Net income		45,897		65,242		56,550		54,675
Earnings per share:
Basic		0.67		0.96		0.83		0.82
Diluted		0.67		0.95		0.82		0.81
2010:
Sales	$	220,589	$	251,659	$	279,121	$	290,182
Gross margin		131,675		153,867		165,801		170,271
Net income		26,732		32,431		55,329		53,556
Earnings per share:
Basic		0.40		0.48		0.81		0.79
Diluted		0.39		0.47		0.80		0.78

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Income taxes (Tables)

12 Months Ended

Oct. 31, 2011

Income taxes (Tables) [Abstract]

Income tax expense

	2011			2010			2009
Current:
U.S. federal	$	53,983		$	9,811		$	14,370
State and local		2,029			29			858
Foreign		35,469			26,601			13,581
Total current		91,481			36,441			28,809
Deferred:
U.S. federal		1,851			34,097			7,281
State and local		23			(2,771	)		906
Foreign		(1,158	)		(4,496	)		(4,132	)
Total deferred		716			26,830			4,055
	$	92,197		$	63,271		$	32,864

Unrecognized tax benefits

	2011			2010			2009
Balance at beginning of year	$	4,078		$	3,969		$	7,685
Additions based on tax positions related to the current year		387			388			515
Additions for tax positions of prior years		138			359			—
Reductions for tax positions of prior years		—			(638	)		(3,267	)
Settlements		(2,027	)		—			(964	)
Lapse of statute of limitations		—			—			—
Balance at end of year	$	2,576		$	4,078		$	3,969

Income taxes computed at the U.S. statutory rate and income tax

	2011			2010			2009
Tax at statutory rate of 35%	$	110,096		$	80,962		$	(44,517	)
Impact of goodwill charge		—			—			79,064
Domestic Production Deduction		(5,530	)		(1,737	)		(1,134	)
Foreign tax rate variances, net of foreign tax credits		(7,906	)		(10,550	)		1,279
State and local taxes, net of federal income tax benefit		1,310			(1,828	)		1,160
Tax expense related to tax law change		—			5,249			—
Tax benefit from sale of UV product lines		—			(10,243	)		—
Amounts related to prior years		(4,123	)		776			(3,283	)
Other — net		(1,650	)		642			295
Provision for income taxes	$	92,197		$	63,271		$	32,864

Significant components of deferred tax assets and liabilities

	2011			2010
Deferred tax assets:
Sales to international subsidiaries and related consolidation adjustments	$	10,315		$	8,919
Employee benefits		79,027			63,520
Other accruals not currently deductible for taxes		12,114			11,681
Tax credit and loss carryforwards		10,812			5,664
Inventory adjustments		4,085			3,585
Translation of foreign currency accounts		716			316
Other — net		—			268
Total deferred tax assets		117,069			93,953
Valuation allowance		(4,287	)		(5,729	)
Total deferred tax assets		112,782			88,224
Deferred tax liabilities:
Depreciation and amortization		94,487			64,198
Translation of foreign currency accounts		17			—
Other — net		—			195
Total deferred tax liabilities		94,504			64,393
Net deferred tax assets	$	18,278		$	23,831

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Notes payable (Details) (USD $) In Thousands, unless otherwise specified	Dec. 09, 2011	Oct. 31, 2011	Oct. 31, 2010
Bank lines of credit and notes
Maximum borrowings under bank lines of credit	$ 500,000	$ 43,305	$ 39,710
Outstanding notes payable		33	2,160
Weighted-average interest rate on notes payable		1.50%	4.10%
Unused bank lines of credit		43,272	37,550
Domestic Bank Debt [Member]
Bank lines of credit and notes
Maximum borrowings under bank lines of credit		0	0
Outstanding notes payable		0	0
Foreign Bank Debt [Member]
Bank lines of credit and notes
Maximum borrowings under bank lines of credit		43,305	39,710
Outstanding notes payable		$ 33	$ 2,160

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Income taxes (Details 3) (USD $) In Thousands, unless otherwise specified	Oct. 31, 2011	Oct. 31, 2010
Deferred tax assets:
Sales to international subsidiaries and related consolidation adjustments	$ 10,315	$ 8,919
Employee benefits	79,027	63,520
Other accruals not currently deductible for taxes	12,114	11,681
Tax credit and loss carryforwards	10,812	5,664
Inventory adjustments	4,085	3,585
Translation of foreign currency accounts	716	316
Other - net		268
Total deferred tax assets	117,069	93,953
Valuation allowance	(4,287)	(5,729)
Total deferred tax assets	112,782	88,224
Deferred tax liabilities:
Depreciation and Amortization	94,487	64,198
Translation of foreign currency accounts	17
Other - net		195
Total deferred tax liabilities	94,504	64,393
Net deferred tax assets	$ 18,278	$ 23,831

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Stock-based compensation (Details 2)	12 Months Ended
	Oct. 31, 2011 Year	Oct. 31, 2010 Year
Fair value assumptions of stock options
Expected dividend yield		1.39%
Minimum [Member]
Fair value assumptions of stock options
Expected volatility	0.431%	0.429%
Expected dividend yield	1.28%	1.35%
Risk-free interest rate	1.89%	2.27%
Expected life of the option (in years)	5.4	5.4
Maximum [Member]
Fair value assumptions of stock options
Expected volatility	0.451%	0.442%
Expected dividend yield	1.28%	1.40%
Risk-free interest rate	2.25%	3.18%
Expected life of the option (in years)	6.3	6.3

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Retirement, pension and other postretirement plans (Details 4)	12 Months Ended
	Oct. 31, 2011	Oct. 31, 2010	Oct. 31, 2009
Pension plan, United States [Member]
Assumptions used to determine benefit obligations at October 31:
Discount rate	4.46%	5.21%	5.50%
Rate of compensation increase	3.20%	3.30%	3.30%
Assumptions used to determine net benefit costs for the years ended October 31:
Discount rate	5.21%	5.50%	8.00%
Expected return on plan assets	8.25%	8.51%	8.48%
Rate of compensation increase	3.30%	3.30%	3.30%
Pension plan International [Member]
Assumptions used to determine benefit obligations at October 31:
Discount rate	4.43%	4.17%	4.78%
Rate of compensation increase	3.16%	3.21%	2.86%
Assumptions used to determine net benefit costs for the years ended October 31:
Discount rate	4.17%	4.78%	5.87%
Expected return on plan assets	4.84%	4.85%	5.04%
Rate of compensation increase	3.21%	2.86%	3.45%

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Fair value measurements (Details Textuals)	12 Months Ended
	Oct. 31, 2011
Fair value measurements (Textuals) [Abstract]
Foreign currency forward contracts maturities	90 days
Senior management and other highly compensated employees salary and incentive compensation deferrals percentage maximum	100.00%

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Leases (Details) (USD $) In Thousands, unless otherwise specified	Oct. 31, 2011	Oct. 31, 2010
Assets held under capitalized leases and included in property, plant and equipment
Transportation equipment	$ 14,215	$ 13,870
Other	2,581	1,009
Total capitalized leases	16,796	14,879
Accumulated amortization	(6,969)	(7,799)
Net capitalized leases	$ 9,827	$ 7,080

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Capital shares (Details Textuals) (USD $)	12 Months Ended
	Oct. 31, 2011	Oct. 31, 2010	Oct. 31, 2009
Capital shares (Textuals) [Abstract]
Convertible preference shares authorized	10,000	10,000
Preference shares outstanding	0	0	0
Stock split description	2-for-1
Percentage stock dividend paid	100.00%
Common Stock No Par Value
Common Shares issued	98,023	98,023
Common Shares Outstanding	65,601,000	67,871,000

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Long-term debt (Details Textuals) (USD $)				1 Months Ended	12 Months Ended		12 Months Ended
	Dec. 09, 2011	Oct. 31, 2011	Oct. 31, 2010	Jun. 30, 2011 Private shelf facility, due 2012-2020 [Member]	Oct. 31, 2011 Senior note, due 2013 [Member] Installment	Oct. 31, 2011 Prior credit facility agreement [Member]	Oct. 31, 2011 Senior notes, due 2005-2011 [Member]	Oct. 31, 2011 Loans Payable with State of Ohio [Member]	Oct. 31, 2011 Cuyahoga County [Member]	Oct. 31, 2011 Private shelf facility [Member] Private shelf facility, due 2012-2020 [Member]
Line of Credit Facility [Line Items]
Maximum borrowings under bank lines of credit	$ 500,000,000	$ 43,305,000	$ 39,710,000			$ 400,000,000
Weighted average life of notes							6 years 6 months
Value of agreement with New York Life Investment Management LLC				150,000,000
Fixed interest rate					4.98%			3.00%	3.50%	2.21%
Duration of repayment								15 years	15 years
Number of installment to repay the loan					1
Period of agreement				3 years
Maximum life of the borrowings				12 years
Average life of the borrowings				10 years
Long Term Debt (Textuals) [Abstract]
Weighted average interest for borrowings		0.54%
Annual maturity of long term debt, 2012		5,664,000
Annual maturity of long term debt, 2013		55,668,000
Annual maturity of long term debt, 2014		10,671,000
Annual maturity of long term debt, 2015		10,675,000
Annual maturity of long term debt, 2016		10,679,000
Private shelf note		$ 75,000,000

XML

Stock-based compensation (Details) (USD $) In Thousands, except Per Share data, unless otherwise specified	12 Months Ended
	Oct. 31, 2011 Year
Summarized activity related to stock options
Number of Options Outstanding, Beginning Balance	2,362
Number of Options, Granted	287
Number of Options, Exercised	(787)
Number of Options, Forfeited or expired	(11)
Number of Options Outstanding, Ending Balance	1,851
Number of Options, Vested or expected to vest	1,773
Number of Options, Exercisable	944
Weighted Average Exercise Price Per Share, Outstanding, Beginning Balance	$ 20.15
Weighted Average Exercise Price Per Share, Granted	$ 43.32
Weighted Average Exercise Price Per Share, Exercised	$ 18.92
Weighted Average Exercise Price Per Share, Forfeited or expired	$ 28.20
Weighted Average Exercise Price Per Share, Outstanding, Ending Balance	$ 24.22
Weighted Average Exercise Price Per Share, Vested or expected to vest	$ 23.93
Weighted Average Exercise Price Per Share, Exercisable	$ 19.79
Aggregate Intrinsic Value, Outstanding	$ 41,011
Aggregate Intrinsic Value, Vested or expected to vest	39,791
Aggregate Intrinsic Value, Exercisable	$ 25,100
Weighted Average Remaining Term, Outstanding	6.2
Weighted Average Remaining Term, Vested or expected to vest	6.1
Weighted Average Remaining Term, Exercisable	4.5

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Leases (Details 1) (USD $) In Thousands, unless otherwise specified	Oct. 31, 2011	Oct. 31, 2010
Future minimum lease payments under noncancelable capitalized and operating leases
2012 Capitalized	$ 5,481
2012 operating	10,955
2013 capitalized	4,036
2013 operating	6,244
2014 capitalized	2,211
2014 operating	4,429
2015 capitalized	637
2015 operating	2,863
2016 capitalized	49
2016 operating	2,216
Later years capitalized	0
Later years operating	9,095
Total minimum lease payments capitalized	12,414
Total minimum lease payments operating	35,802
Less amount representing executory costs	1,812
Net minimum lease payments	10,602
Less amount representing interest	1,269
Present value of net minimum lease payments	9,333
Less current portion	(4,131)	(3,764)
Long-term obligations at October 31, 2011	$ 5,202	$ 3,316

XML

Income taxes (Details 1) (USD $) In Thousands, unless otherwise specified	3 Months Ended	12 Months Ended
	Jul. 31, 2011	Oct. 31, 2011	Oct. 31, 2010	Oct. 31, 2009
Unrecognized tax benefits
Balance at beginning of year		$ 4,078	$ 3,969	$ 7,685
Additions based on tax positions related to the current year		387	388	515
Additions for tax positions of prior years		138	359
Reductions for tax positions of prior years			(638)	(3,267)
Settlements	(2,027)	(2,027)		(964)
Lapse of statute of limitations		0	0	0
Balance at end of year		$ 2,576	$ 4,078	$ 3,969

XML

Fair value measurements

12 Months Ended

Oct. 31, 2011

Fair value measurements [Abstract]

Fair value measurements

Note 18 — Fair value measurements

The inputs to the valuation techniques used to measure fair value are classified into the following categories:

Level 1: Quoted market prices in active markets for identical assets or liabilities.

Level 2: Observable market based inputs or unobservable inputs that are corroborated by market data.

Level 3: Unobservable inputs that are not corroborated by market data.

The following table presents the classification of our assets and liabilities measured at fair value on a recurring basis at October 31, 2011:

	Total		Level 1		Level 2		Level 3
Assets:
Rabbi trust (a)	$	13,678	$	—	$	13,678	$	—
Forward exchange contracts (b)		1,401		—		1,401		—
Total assets at fair value	$	15,079	$	—	$	15,079	$	—
Liabilities:
Deferred compensation plans (c)	$	6,278	$	6,278	$	—	$	—
Forward exchange contracts (b)		1,025		—		1,025		—
Total liabilities at fair value	$	7,303	$	6,278	$	1,025	$	—

(a) We maintain a rabbi trust that serves as an investment to shadow our deferred compensation plan liability. The investment assets of the trust consist of life insurance policies for which we recognize income or expense based upon changes in cash surrender value.

(b) We enter into foreign currency forward contracts to reduce the risk of foreign currency exposures resulting from receivables, payables, intercompany receivables, intercompany payables and loans denominated in foreign currencies. The maturities of these contracts are usually less than 90 days. Foreign exchange contracts are valued using market exchange rates. These foreign exchange contracts are not designated as hedges.

(c) Senior management and other highly compensated employees may defer up to 100 percent of their salary and incentive compensation into various non-qualified deferred compensation plans. Deferrals can be allocated to various market performance measurement funds. Changes in the value of compensation deferred under these plans are recognized each period based on the fair value of the underlying measurement funds.

Fair value disclosures related to long-lived assets are disclosed in Note 12, and fair value disclosures related to goodwill and indefinite-lived intangible assets are disclosed in Note 17.

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Significant accounting policies (Details 3) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Oct. 31, 2011	Oct. 31, 2010
Reconciliation of the product warranty liability
Balance at beginning of year	$ 5,242	$ 4,587
Accruals for warranties	7,217	6,068
Warranty assumed from acquisition	72	60
Warranty of divested product lines		(201)
Warranty payments	(6,017)	(5,210)
Currency adjustments	14	(62)
Balance at end of year	$ 6,528	$ 5,242

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Supplemental information for the statement of cash flows (Tables)

12 Months Ended

Oct. 31, 2011

Supplemental information for the statement of cash flows [Tables Abstract]

Supplemental information for the statement of cash flows

	2011		2010		2009
Cash operating activities:
Interest paid	$	5,253	$	6,518	$	7,986
Income taxes paid		96,487		21,526		24,893
Non-cash investing and financing activities:
Capitalized lease obligations incurred	$	8,154	$	5,468	$	3,257
Capitalized lease obligations terminated		534		721		2,376
Shares acquired and issued through exercise of stock options		5,228		5,151		73

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Details of balance sheet (Details) (USD $) In Thousands, unless otherwise specified	Oct. 31, 2011	Oct. 31, 2010	Oct. 31, 2009
Receivables:
Accounts	$ 235,240	$ 215,960
Notes	16,082	11,035
Other	6,299	20,148
Receivables, gross	257,621	247,143
Allowance for doubtful accounts	(3,311)	(3,353)
Receivables - net	254,310	243,790
Inventories:
Finished goods	98,879	83,459
Work-in-process	13,971	15,614
Raw materials and finished parts	51,891	43,305
Inventories - gross	164,741	142,378
Obsolescence and other reserves	(16,050)	(16,802)
LIFO reserve	(6,779)	(7,855)
Inventories - net	141,912	117,721
Property, plant and equipment:
Land	7,791	7,810
Land improvements	3,392	2,325
Buildings	121,870	115,111
Machinery and equipment	207,734	207,740
Enterprise management system	43,006	37,249
Construction-in-progress	5,623	8,544
Leased property under capitalized leases	16,796	14,879
Property, plant and equipment - gross	406,212	393,658
Accumulated depreciation and amortization	(275,329)	(277,263)
Property, plant and equipment - net	130,883	116,395	118,291
Accrued liabilities:
Salaries and other compensation	44,068	40,334
Pension and retirement	1,030	1,675
Taxes other than income taxes	9,252	8,110
Other	46,944	46,014
Accrued liabilities	$ 101,294	$ 96,133

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Divestiture (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Oct. 31, 2010	Oct. 31, 2009
Divestiture (Textuals) [Abstract]
Loss on divestiture	$ 357
Impairment of assets held for sale		14,101
Impairment of goodwill		$ 232,789

XML

Long-term debt (Tables)

12 Months Ended

Oct. 31, 2011

Long Term Debt (Tables) [Abstract]

Long-term debt

	2011		2010
Revolving credit agreement, due 2017	$	192,200	$	46,000
Senior notes, due 2005-2011		—		14,260
Private shelf facility, due 2012-2020		75,000		—
Senior notes, due 2013		50,000		50,000
Development loans, due 2011-2026		1,923		—
		319,123		110,260
Less current maturities		5,664		14,260
Long-term maturities	$	313,459	$	96,000

XML

Recently issued accounting standards (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Oct. 31, 2011
Recently issued accounting standards (Textuals) [Abstract]
Material changes to revenue deferral amounts	$ 0

XML

Retirement, pension and other postretirement plans (Details 14) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Oct. 31, 2011
Postretirement Benefit Plans United States [Member]
One percentage point change in the discount rate and assumed health care cost trend rate
Effect on total service and interest cost components in 2011 ,1% point increase	$ (628)
Effect on total service and interest cost components in 2011 ,1% point decrease	753
Effect on postretirement obligation as of October 31, 2011, 1% point increase	(10,119)
Effect on postretirement obligation as of October 31, 2011, 1% point decrease	12,871
Effect on total service and interest cost components in 2011 ,1% point increase	871
Effect on total service and interest cost components in 2011 ,1% point decrease	(688)
Effect on postretirement obligation as of October 31, 2011, 1% point increase	11,804
Effect on postretirement obligation as of October 31, 2011, 1% point decrease	(9,476)
Postretirement Benefit Plans International [Member]
One percentage point change in the discount rate and assumed health care cost trend rate
Effect on total service and interest cost components in 2011 ,1% point increase	(9)
Effect on total service and interest cost components in 2011 ,1% point decrease	11
Effect on postretirement obligation as of October 31, 2011, 1% point increase	(135)
Effect on postretirement obligation as of October 31, 2011, 1% point decrease	181
Effect on total service and interest cost components in 2011 ,1% point increase	19
Effect on total service and interest cost components in 2011 ,1% point decrease	(14)
Effect on postretirement obligation as of October 31, 2011, 1% point increase	174
Effect on postretirement obligation as of October 31, 2011, 1% point decrease	$ (132)

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Quarterly financial data (Details Textuals) (USD $) In Thousands, unless otherwise specified	3 Months Ended					12 Months Ended
	Jul. 31, 2011	Jan. 31, 2011	Jul. 31, 2010	Apr. 30, 2010	Jan. 31, 2010	Oct. 31, 2011	Oct. 31, 2009
Quarterly financial data (Textuals) [Abstract]
Net income tax benefits					$ 3,500
Additional tax charges				5,255
Tax benefits			10,700
Unrecognized tax benefits	2,027					2,027	964
Fee paid to withdraw from a multiemployer employee pension fund	3,136					3,120
Tax benefit from changes in tax law		$ 1,242

XML

Retirement, pension and other postretirement plans (Details 8) (Level 3 [Member], USD $) In Thousands, unless otherwise specified	12 Months Ended
	Oct. 31, 2011	Oct. 31, 2010
Level 3 [Member]
Summary of changes in fair value of the pension plan investments
Balance at beginning of year	$ 17,699	$ 17,600
Net unrealized gains	55	692
Purchases, sales, issuances and settlements, net	679	(231)
Transfers in (out)	0
Foreign currency translation	68	(362)
Balance at end of year	$ 18,501	$ 17,699

XML

Significant accounting policies (Details)	12 Months Ended
	Oct. 31, 2011 Year
Land Improvements [Member]
Useful lives of property, plant and equipment and depreciation
Useful Life Minimum	15
Useful Life Maximum	25
Buildings [Member]
Useful lives of property, plant and equipment and depreciation
Useful Life Minimum	20
Useful Life Maximum	40
Machinery and equipment [Member]
Useful lives of property, plant and equipment and depreciation
Useful Life Minimum	3
Useful Life Maximum	12
Enterprise management systems [Member]
Useful lives of property, plant and equipment and depreciation
Useful Life Minimum	5
Useful Life Maximum	13

XML

Recently issued accounting standards

12 Months Ended

Oct. 31, 2011

Recently issued accounting standards [Abstract]

Recently issued accounting standards

Note 2 — Recently issued accounting standards

In October 2009, the Financial Accounting Standards Board (“FASB”) issued authoritative guidance on multiple-deliverable revenue arrangements that addresses the unit of accounting for arrangements involving multiple deliverables. The guidance also addresses how arrangement consideration should be allocated to separate units of accounting, when applicable, and expands the disclosure requirements for multiple-deliverable arrangements. We adopted this standard on November 1, 2010, and there were no material changes to our revenue deferral amounts.

In December 2010, the FASB issued guidance that provides requirements over pro forma revenue and earnings disclosures related to business combinations. This guidance will require disclosure of revenue and earnings of the combined business as if the combination occurred at the start of the prior annual reporting period only. This guidance is effective beginning in 2012, and is not expected to have a material impact on the consolidated financial statements.

In May 2011, the FASB clarified the guidance around fair value measurements and disclosures. The guidance requires the disclosure of quantitative information about unobservable inputs used, a description of the valuation processes used, and a qualitative discussion around the sensitivity of the measurements. It will be effective beginning in the second quarter of 2012. We do not expect the adoption will have a significant impact on our consolidated financial statements.

In June 2011, the FASB issued an Accounting Standards Update (ASU) that amends current comprehensive income guidance. This ASU eliminates the option to present the components of other comprehensive income as part of the statement of shareholders’ equity. Instead, comprehensive income must be reported in either a single continuous statement of comprehensive income which contains two sections, net income and other comprehensive income, or in two separate but consecutive statements. This guidance will be effective beginning in 2013 and is not expected to impact our consolidated financial statements, as it only results in a change in the format of presentation.

In September 2011, the FASB issued guidance amending the way companies test for goodwill impairment. Companies will have the option to first assess qualitative factors to determine whether the existence of events or circumstances leads to a determination that it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If, after assessing the totality of events or circumstances, companies determine it is more likely than not that the fair value of a reporting unit is greater than its carrying amount, then performing the two-step impairment test is unnecessary. This guidance is effective for interim and annual periods beginning after December 15, 2011, with early adoption permitted. We do not expect the adoption will have a significant impact on our consolidated financial statements.

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Retirement, pension and other postretirement plans (Details 9) (USD $) In Thousands, unless otherwise specified	Oct. 31, 2011
Pension plan, United States [Member]
Retiree pension benefit payments
2012	$ 12,762
2013	11,443
2014	12,669
2015	13,982
2016	14,243
2017-2021	92,072
Pension plan International [Member]
Retiree pension benefit payments
2012	1,942
2013	1,989
2014	2,399
2015	2,840
2016	2,288
2017-2021	$ 17,271

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Operating segments and geographic area data (Tables)

12 Months Ended

Oct. 31, 2011

Operating segments and geographic area data (Tables) [Abstract]

Reportable segments

	Adhesive Dispensing Systems			Advanced Technology Systems			Industrial Coating Systems			Corporate			Total
Year ended October 31, 2011
Net external sales	$	611,911		$	438,634		$	182,614		$	—		$	1,233,159
Depreciation		7,087			7,869			2,837			2,965			20,758
Operating profit		210,350	(a)		114,903			26,977			(36,687	)(b)		315,543
Identifiable assets (c)		286,974			692,295			70,622			270,500			1,320,391
Expenditures for long-lived assets		4,477			4,842			2,428			8,492			20,239
Year ended October 31, 2010
Net external sales	$	525,290		$	369,449		$	146,812		$	—		$	1,041,551
Depreciation		8,014			7,641			2,851			4,119			22,625
Operating profit (loss)		166,255			84,247			14,588			(30,257	)(b)		234,833
Identifiable assets (c)		251,881			477,563			61,256			206,663	(d)		997,363
Expenditures for long-lived assets		1,857			2,792			548			9,120			14,317
Year ended October 31, 2009
Net external sales	$	460,746		$	242,247		$	116,172		$	—		$	819,165
Depreciation		9,087			7,268			3,326			6,629			26,310
Operating profit		127,589			(214,781	)(e)		(6,895	)(e)		(33,720	)(b)		(127,807	)
Identifiable assets (c)		226,904			448,196			53,176			168,686	(d)		896,962
Expenditures for long-lived assets		1,922			7,089			865			2,638			12,514

Sales and long-lived assets information by geographic area

	2011		2010		2009
Net external sales
United States	$	312,328	$	273,652	$	234,038
Americas		102,077		78,058		60,632
Europe		390,319		336,119		294,951
Japan		111,003		93,318		81,678
Asia Pacific		317,432		260,404		147,866
Total net external sales	$	1,233,159	$	1,041,551	$	819,165
Long-lived assets
United States	$	90,994	$	80,974	$	79,675
Americas		2,933		1,865		1,703
Europe		16,312		13,401		15,329
Japan		3,496		3,587		3,257
Asia Pacific		17,148		16,568		18,327
Total long-lived assets	$	130,883	$	116,395	$	118,291

Total consolidated income before income taxes

	2011			2010			2009
Total profit (loss) for reportable segments	$	315,543		$	234,833		$	(127,807	)
Interest expense		(5,069	)		(6,263	)		(7,771	)
Interest and investment income		569			819			492
Other-net		3,518			1,930			7,895
Income (loss) before income taxes	$	314,561		$	231,319		$	(127,191	)

Total consolidated assets

	2011			2010			2009
Total assets for reportable segments	$	1,320,391		$	997,363		$	896,962
Customer advance payments		9,375			10,999			8,807
Eliminations		(25,316	)		(22,008	)		(15,095	)
Total consolidated assets	$	1,304,450		$	986,354		$	890,674

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Valuation and Qualifying Accounts and Reserves

12 Months Ended

Oct. 31, 2011

Valuation and Qualifying Accounts and Reserves [Abstract]

Valuation and Qualifying Accounts and Reserves

Schedule II — Valuation and Qualifying Accounts and Reserves

	Balance at Beginning of Year		Assumed from Acquisitions		Charged to Expense		Deductions		Currency Effects			Balance at End of Year
Allowance for Doubtful Accounts
2009	$	3,067		—		1,998		1,654		317		$	3,728
2010	$	3,728		6		607		901		(87	)	$	3,353
2011	$	3,353		22		977		1,047		6		$	3,311
Inventory Obsolescence and Other Reserves
2009	$	13,133		—		5,654		4,234		1,187		$	15,740
2010	$	15,740		187		4,233		3,061		(297	)	$	16,802
2011	$	16,802		8		3,982		4,850		108		$	16,050

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Subsequent events

12 Months Ended

Oct. 31, 2011

Subsequent events [Abstract]

Subsequent events

Note 21 — Subsequent events

On December 9, 2011 we entered into a $500,000 unsecured multicurrency credit facility with a group of banks. This facility has a five-year term and includes a $40,000 subfacility for swing-line loans. It may be increased from $500,000 to $750,000 under certain conditions. The new facility contains customary events of default and covenants related to limitations on indebtedness and the maintenance of certain financial ratios. It replaced our existing revolving loan agreement that was scheduled to expire in 2012. Balances outstanding under the prior facility were transferred to the new facility.

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Operating segments and geographic area data (Details 1) (USD $) In Thousands, unless otherwise specified	3 Months Ended								12 Months Ended
	Oct. 31, 2011	Jul. 31, 2011	Apr. 30, 2011	Jan. 31, 2011	Oct. 31, 2010	Jul. 31, 2010	Apr. 30, 2010	Jan. 31, 2010	Oct. 31, 2011	Oct. 31, 2010	Oct. 31, 2009
Net external sales
Net external sales	$ 331,018	$ 312,255	$ 318,924	$ 270,962	$ 290,182	$ 279,121	$ 251,659	$ 220,589	$ 1,233,159	$ 1,041,551	$ 819,165
Long-lived assets
Long-lived assets	130,883				116,395				130,883	116,395	118,291
United States [Member]
Net external sales
Net external sales									312,328	273,652	234,038
Long-lived assets
Long-lived assets	90,994				80,974				90,994	80,974	79,675
Americas [Member]
Net external sales
Net external sales									102,077	78,058	60,632
Long-lived assets
Long-lived assets	2,933				1,865				2,933	1,865	1,703
Europe [Member]
Net external sales
Net external sales									390,319	336,119	294,951
Long-lived assets
Long-lived assets	16,312				13,401				16,312	13,401	15,329
Japan [Member]
Net external sales
Net external sales									111,003	93,318	81,678
Long-lived assets
Long-lived assets	3,496				3,587				3,496	3,587	3,257
Asia Pacific [Member]
Net external sales
Net external sales									317,432	260,404	147,866
Long-lived assets
Long-lived assets	$ 17,148				$ 16,568				$ 17,148	$ 16,568	$ 18,327

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Retirement, pension and other postretirement plans (Details 3) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Oct. 31, 2011	Oct. 31, 2010	Oct. 31, 2009
Pension plan, United States [Member]
Net pension benefit costs
Service cost	$ 6,058	$ 5,997	$ 4,177
Interest cost	12,008	11,883	11,897
Expected return on plan assets	(15,575)	(14,716)	(11,982)
Amortization of prior service cost (credit)	666	579	603
Amortization of net actuarial (gain) loss	7,438	6,181	854
Settlement loss	0	8,022	1,629
Total benefit cost	10,595	17,946	7,178
Pension plan International [Member]
Net pension benefit costs
Service cost	2,097	1,632	1,315
Interest cost	2,973	2,791	2,625
Expected return on plan assets	(1,466)	(1,348)	(1,210)
Amortization of prior service cost (credit)	5	49	49
Amortization of net actuarial (gain) loss	858	369	(19)
Settlement loss	0	190	287
Total benefit cost	$ 4,467	$ 3,683	$ 3,047

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Goodwill and intangible assets (Tables)

12 Months Ended

Oct. 31, 2011

Goodwill and Other Intangible Assets (Tables) [Abstract]

Schedule of changes in the carrying amount of goodwill

	Adhesive Dispensing Systems			Advanced Technology Systems			Industrial Coating Systems		Total
Balance at October 31, 2010	$	33,783		$	313,543		$	—	$	347,326
Acquisitions/Adjustment		8,638			192,362			—		201,000
Currency effect		(459	)		(41	)		—		(500	)
Balance at October 31, 2011	$	41,962		$	505,864		$	—	$	547,826

Summary of intangible assets subject to amortization

	October 31, 2011
	Carrying Amount		Accumulated Amortization		Net Book Value
Patent/technology costs	$	43,235	$	11,571	$	31,664
Customer relationships		78,324		11,843		66,481
Noncompete agreements		5,042		3,727		1,315
Trade name		22,143		1,530		20,613
Other		1,437		811		626
Total	$	150,181	$	29,482	$	120,699

	October 31, 2010
	Carrying Amount		Accumulated Amortization		Net Book Value
Patent/technology costs	$	23,429	$	9,084	$	14,345
Customer relationships		30,630		8,273		22,357
Noncompete agreements		5,982		4,857		1,125
Trade name		1,684		479		1,205
Other		1,432		636		796
Total	$	63,157	$	23,329	$	39,828

Estimated Amortization Expense

Year	Amounts
2012	$	10,359
2013	$	9,713
2014	$	8,881
2015	$	8,330
2016	$	7,793

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Significant accounting policies (Policies)

12 Months Ended

Oct. 31, 2011

Significant accounting policies (Policies) [Abstract]

Consolidation

Consolidation — The consolidated financial statements include the accounts of Nordson Corporation and majority-owned and controlled subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation.

Use of estimates

Use of estimates — The preparation of financial statements in conformity with generally accepted accounting principles in the United States requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and notes. Actual amounts could differ from these estimates.

Fiscal year

Fiscal year — Our fiscal year ends on October 31.

Revenue recognition

Revenue recognition — Most of our revenues are recognized upon shipment, provided that persuasive evidence of an arrangement exists, the sales price is fixed or determinable, collectibility is reasonably assured, and title and risk of loss have passed to the customer. In October 2009, the FASB issued an accounting standard update on multiple deliverable arrangements, which we adopted effective November 1, 2010. This accounting standard update establishes a relative selling price hierarchy for determining the selling price of a deliverable based on vendor specific objective evidence (VSOE) if available, third-party evidence (TPE) if vendor-specific objective evidence is not available, or best estimated selling price (BESP) if neither vendor-specific objective evidence nor third-party evidence is available. Our multiple deliverable arrangements include installation, installation supervision, training, and spare parts, which tend to be completed in a short period of time, at an insignificant cost, and utilizing skills not unique to us, and, therefore, are typically regarded as inconsequential or perfunctory. Revenue for undelivered items is deferred and included within accrued liabilities in the accompanying balance sheet. Revenues deferred in 2011, 2010 and 2009 were not material. The requirements of this standard did not significantly change our units of accounting or how we allocate arrangement consideration to various units of accounting. The adoption of this standard had no material impact on our financial position or results of operations.

Shipping and handling costs

Shipping and handling costs — Amounts billed to customers for shipping and handling are recorded as revenue. Shipping and handling expenses are included in cost of sales.

Advertising costs

Advertising costs — Advertising costs are expensed as incurred and were $9,008, $8,267 and $6,512 in 2011, 2010 and 2009, respectively.

Research and development

Research and development — Research and development costs are expensed as incurred and were $26,997, $23,835 and $25,528 in 2011, 2010 and 2009, respectively.

Earnings per share

Earnings per share — Basic earnings per share are computed based on the weighted-average number of common shares outstanding during each year, while diluted earnings per share are based on the weighted-average number of common shares and common share equivalents outstanding. Common share equivalents consist of shares issuable upon exercise of stock options computed using the treasury stock method, as well as nonvested (restricted) stock and deferred stock-based compensation. Options whose exercise price is higher than the average market price are excluded from the calculation of diluted earnings per share because the effect would be anti-dilutive. Options for 71 common shares were excluded from the 2011 calculation, and for 2010, options for 17 common shares were excluded from the calculation of diluted earnings per share, because their effect would have been anti-dilutive. When a loss is reported the denominator of diluted earnings per share cannot be adjusted for the dilutive impact of stock options and awards because doing so will result in anti-dilution. Therefore, for 2009, basic weighted-average shares outstanding are used in calculating diluted earnings per share.

Cash and cash equivalents

Cash and cash equivalents — Highly liquid instruments with maturities of 90 days or less at date of purchase are considered to be cash equivalents. Cash and cash equivalents are carried at cost.

Marketable securities

Marketable securities — Marketable securities consist primarily of short-term notes with maturities greater than 90 days at date of purchase, and all contractual maturities were within one year or could be callable within one year. Our marketable securities are classified as available for sale and are recorded at quoted market prices that approximate cost.

Allowance for doubtful accounts

Allowance for doubtful accounts — An allowance for doubtful accounts is maintained for estimated losses resulting from the inability of customers to make required payments. The amount of the allowance is determined principally on the basis of past collection experience and known factors regarding specific customers. Accounts are written off against the allowance when it becomes evident that collection will not occur.

Inventories

Inventories — Inventories are valued at the lower of cost or market. Cost was determined using the last-in, first-out (LIFO) method for 26 percent of consolidated inventories at October 31, 2011, and 25 percent at October 31, 2010. The first-in, first-out (FIFO) method is used for all other inventories. Consolidated inventories would have been $6,779 and $7,855 higher than reported at October 31, 2011 and October 31, 2010, respectively, had the FIFO method, which approximates current cost, been used for valuation of all inventories. LIFO liquidations in 2009 increased cost of goods sold by $85.

Property, plant and equipment and depreciation

Property, plant and equipment and depreciation — Property, plant and equipment are carried at cost. Additions and improvements that extend the lives of assets are capitalized, while expenditures for repairs and maintenance are expensed as incurred. Plant and equipment are depreciated for financial reporting purposes using the straight-line method over the estimated useful lives of the assets or, in the case of property under capital leases, over the terms of the leases. Leasehold improvements are depreciated over the shorter of the lease term or their useful lives. Useful lives are as follows:

Depreciation expense is included in cost of sales and selling and administrative expenses.

Internal use software costs are expensed or capitalized depending on whether they are incurred in the preliminary project stage, application development stage or the post-implementation stage. Amounts capitalized are amortized over the estimated useful lives of the software beginning with the project’s completion. All re-engineering costs are expensed as incurred. Interest costs on significant capital projects are capitalized. No interest was capitalized in 2011, 2010 or 2009.

Goodwill and intangible assets

Goodwill and intangible assets — Goodwill is the excess of cost of an acquired entity over the amounts assigned to assets acquired and liabilities assumed in a business combination. The majority of goodwill relates to and is assigned directly to specific reporting units. Goodwill is not amortized but is subject to annual impairment testing. Our annual impairment testing is performed as of August 1. Testing is done more frequently if an event occurs or circumstances change that would indicate the fair value of a reporting unit is less than the carrying amount of those assets.

Other amortizable intangible assets, which consist primarily of patent/technology costs, customer relationships, noncompete agreements, and trade names, are amortized over their useful lives on a straight-line basis. At October 31, 2011, the weighted average useful lives for each major category of amortizable intangible assets were:

Foreign currency translation

Foreign currency translation — The financial statements of subsidiaries outside the United States are generally measured using the local currency as the functional currency. Assets and liabilities of these subsidiaries are translated at the rates of exchange at the balance sheet dates. Income and expense items are translated at average monthly rates of exchange. The resulting translation adjustments are included in accumulated other comprehensive income (loss), a separate component of shareholders’ equity. Generally, gains and losses from foreign currency transactions, including forward contracts, of these subsidiaries and the United States parent are included in net income. Gains and losses from intercompany foreign currency transactions of a long-term investment nature are included in accumulated other comprehensive income (loss).

Accumulated other comprehensive loss

Accumulated other comprehensive loss — Accumulated other comprehensive loss at October 31, 2011 and 2010, consisted of:

Warranties

Warranties — Our standard warranty program provides for repair or replacement of defective products within a specified time period (generally one year) measured from the date of delivery or first use. The estimate for future warranty-related costs is calculated based on actual historical return rates. Based on analysis of return rates and other factors, warranty provisions are adjusted as necessary. The liability for warranty costs is included in other accrued liabilities in the Consolidated Balance Sheet.

Following is a reconciliation of the product warranty liability for 2011 and 2010:

Presentation

Presentation — Certain amounts for 2010 and 2009 have been reclassified to conform to 2011 presentation.

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Significant accounting policies (Tables)

12 Months Ended

Oct. 31, 2011

Significant accounting policies (Tables) [Abstract]

Useful lives of property, plant and equipment and depreciation

Land improvements	15-25 years
Buildings	20-40 years
Machinery and equipment	3-12 years
Enterprise management systems	5-13 years

Weighted average useful lives for each major category of amortizable intangible assets

Patent/technology costs	13.5 years
Customer relationships	19.5 years
Noncompete agreements	7.4 years
Trade names	18.1 years

Accumulated other comprehensive loss

	2011			2010
Translation adjustments	$	37,040		$	36,478
Pension and postretirement benefit plan adjustments		(117,052	)		(102,784	)
	$	(80,012	)	$	(66,306	)

Reconciliation of the product warranty liability

	2011			2010
Balance at beginning of year	$	5,242		$	4,587
Accruals for warranties		7,217			6,068
Warranty assumed from acquisition		72			60
Warranty of divested product lines		—			(201	)
Warranty payments		(6,017	)		(5,210	)
Currency adjustments		14			(62	)
Balance at end of year	$	6,528		$	5,242

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Significant accounting policies

12 Months Ended

Oct. 31, 2011

Significant accounting policies [Abstract]

Significant accounting policies

Note 1 — Significant accounting policies

Consolidation — The consolidated financial statements include the accounts of Nordson Corporation and majority-owned and controlled subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation.

Use of estimates — The preparation of financial statements in conformity with generally accepted accounting principles in the United States requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and notes. Actual amounts could differ from these estimates.

Fiscal year — Our fiscal year ends on October 31.

Revenue recognition — Most of our revenues are recognized upon shipment, provided that persuasive evidence of an arrangement exists, the sales price is fixed or determinable, collectibility is reasonably assured, and title and risk of loss have passed to the customer. In October 2009, the FASB issued an accounting standard update on multiple deliverable arrangements, which we adopted effective November 1, 2010. This accounting standard update establishes a relative selling price hierarchy for determining the selling price of a deliverable based on vendor specific objective evidence (VSOE) if available, third-party evidence (TPE) if vendor-specific objective evidence is not available, or best estimated selling price (BESP) if neither vendor-specific objective evidence nor third-party evidence is available. Our multiple deliverable arrangements include installation, installation supervision, training, and spare parts, which tend to be completed in a short period of time, at an insignificant cost, and utilizing skills not unique to us, and, therefore, are typically regarded as inconsequential or perfunctory. Revenue for undelivered items is deferred and included within accrued liabilities in the accompanying balance sheet. Revenues deferred in 2011, 2010 and 2009 were not material. The requirements of this standard did not significantly change our units of accounting or how we allocate arrangement consideration to various units of accounting. The adoption of this standard had no material impact on our financial position or results of operations.

Shipping and handling costs — Amounts billed to customers for shipping and handling are recorded as revenue. Shipping and handling expenses are included in cost of sales.

Advertising costs — Advertising costs are expensed as incurred and were $9,008, $8,267 and $6,512 in 2011, 2010 and 2009, respectively.

Research and development — Research and development costs are expensed as incurred and were $26,997, $23,835 and $25,528 in 2011, 2010 and 2009, respectively.

Earnings per share — Basic earnings per share are computed based on the weighted-average number of common shares outstanding during each year, while diluted earnings per share are based on the weighted-average number of common shares and common share equivalents outstanding. Common share equivalents consist of shares issuable upon exercise of stock options computed using the treasury stock method, as well as nonvested (restricted) stock and deferred stock-based compensation. Options whose exercise price is higher than the average market price are excluded from the calculation of diluted earnings per share because the effect would be anti-dilutive. Options for 71 common shares were excluded from the 2011 calculation, and for 2010, options for 17 common shares were excluded from the calculation of diluted earnings per share, because their effect would have been anti-dilutive. When a loss is reported the denominator of diluted earnings per share cannot be adjusted for the dilutive impact of stock options and awards because doing so will result in anti-dilution. Therefore, for 2009, basic weighted-average shares outstanding are used in calculating diluted earnings per share.

Cash and cash equivalents — Highly liquid instruments with maturities of 90 days or less at date of purchase are considered to be cash equivalents. Cash and cash equivalents are carried at cost.

Marketable securities — Marketable securities consist primarily of short-term notes with maturities greater than 90 days at date of purchase, and all contractual maturities were within one year or could be callable within one year. Our marketable securities are classified as available for sale and are recorded at quoted market prices that approximate cost.

Allowance for doubtful accounts — An allowance for doubtful accounts is maintained for estimated losses resulting from the inability of customers to make required payments. The amount of the allowance is determined principally on the basis of past collection experience and known factors regarding specific customers. Accounts are written off against the allowance when it becomes evident that collection will not occur.

Inventories — Inventories are valued at the lower of cost or market. Cost was determined using the last-in, first-out (LIFO) method for 26 percent of consolidated inventories at October 31, 2011, and 25 percent at October 31, 2010. The first-in, first-out (FIFO) method is used for all other inventories. Consolidated inventories would have been $6,779 and $7,855 higher than reported at October 31, 2011 and October 31, 2010, respectively, had the FIFO method, which approximates current cost, been used for valuation of all inventories. LIFO liquidations in 2009 increased cost of goods sold by $85.

Property, plant and equipment and depreciation — Property, plant and equipment are carried at cost. Additions and improvements that extend the lives of assets are capitalized, while expenditures for repairs and maintenance are expensed as incurred. Plant and equipment are depreciated for financial reporting purposes using the straight-line method over the estimated useful lives of the assets or, in the case of property under capital leases, over the terms of the leases. Leasehold improvements are depreciated over the shorter of the lease term or their useful lives. Useful lives are as follows:

Land improvements	15-25 years
Buildings	20-40 years
Machinery and equipment	3-12 years
Enterprise management systems	5-13 years

Depreciation expense is included in cost of sales and selling and administrative expenses.

Internal use software costs are expensed or capitalized depending on whether they are incurred in the preliminary project stage, application development stage or the post-implementation stage. Amounts capitalized are amortized over the estimated useful lives of the software beginning with the project’s completion. All re-engineering costs are expensed as incurred. Interest costs on significant capital projects are capitalized. No interest was capitalized in 2011, 2010 or 2009.

Goodwill and intangible assets — Goodwill is the excess of cost of an acquired entity over the amounts assigned to assets acquired and liabilities assumed in a business combination. The majority of goodwill relates to and is assigned directly to specific reporting units. Goodwill is not amortized but is subject to annual impairment testing. Our annual impairment testing is performed as of August 1. Testing is done more frequently if an event occurs or circumstances change that would indicate the fair value of a reporting unit is less than the carrying amount of those assets.

Other amortizable intangible assets, which consist primarily of patent/technology costs, customer relationships, noncompete agreements, and trade names, are amortized over their useful lives on a straight-line basis. At October 31, 2011, the weighted average useful lives for each major category of amortizable intangible assets were:

Patent/technology costs	13.5 years
Customer relationships	19.5 years
Noncompete agreements	7.4 years
Trade names	18.1 years

Foreign currency translation — The financial statements of subsidiaries outside the United States are generally measured using the local currency as the functional currency. Assets and liabilities of these subsidiaries are translated at the rates of exchange at the balance sheet dates. Income and expense items are translated at average monthly rates of exchange. The resulting translation adjustments are included in accumulated other comprehensive income (loss), a separate component of shareholders’ equity. Generally, gains and losses from foreign currency transactions, including forward contracts, of these subsidiaries and the United States parent are included in net income. Gains and losses from intercompany foreign currency transactions of a long-term investment nature are included in accumulated other comprehensive income (loss).

Accumulated other comprehensive loss — Accumulated other comprehensive loss at October 31, 2011 and 2010, consisted of:

	2011			2010
Translation adjustments	$	37,040		$	36,478
Pension and postretirement benefit plan adjustments		(117,052	)		(102,784	)
	$	(80,012	)	$	(66,306	)

Warranties — Our standard warranty program provides for repair or replacement of defective products within a specified time period (generally one year) measured from the date of delivery or first use. The estimate for future warranty-related costs is calculated based on actual historical return rates. Based on analysis of return rates and other factors, warranty provisions are adjusted as necessary. The liability for warranty costs is included in other accrued liabilities in the Consolidated Balance Sheet.

Following is a reconciliation of the product warranty liability for 2011 and 2010:

	2011			2010
Balance at beginning of year	$	5,242		$	4,587
Accruals for warranties		7,217			6,068
Warranty assumed from acquisition		72			60
Warranty of divested product lines		—			(201	)
Warranty payments		(6,017	)		(5,210	)
Currency adjustments		14			(62	)
Balance at end of year	$	6,528		$	5,242

Presentation — Certain amounts for 2010 and 2009 have been reclassified to conform to 2011 presentation.

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Retirement, pension and other postretirement plans (Tables)

12 Months Ended

Oct. 31, 2011

Defined Benefit Plan Disclosure [Line Items]

Reconciliation of the benefit obligations, plan assets, accrued benefit cost and the amount recognized in financial statements for pension plans

	United States						International
	2011			2010			2011			2010
Change in benefit obligation:
Benefit obligation at beginning of year	$	237,370		$	224,966		$	71,936		$	61,631
Service cost		6,058			5,997			2,097			1,632
Interest cost		12,008			11,883			2,973			2,791
Participant contributions		—			—			124			128
Plan amendments		5			643			(1,210	)		—
Addition of plan from business combination		—			—			—			1,241
Foreign currency exchange rate change		—			—			345			(448	)
Actuarial (gain) loss		21,289			18,336			(2,567	)		7,966
Benefits paid		(7,781	)		(24,455	)		(2,337	)		(3,005	)
Benefit obligation at end of year	$	268,949		$	237,370		$	71,361		$	71,936
Change in plan assets:
Beginning fair value of plan assets	$	175,864		$	113,356		$	29,799		$	28,833
Actual return on plan assets		15,946			17,266			672			994
Company contributions		672			69,697			3,788			3,446
Participant contributions		—			—			124			128
Foreign currency exchange rate change		—			—			121			(597	)
Benefits paid		(7,781	)		(24,455	)		(2,337	)		(3,005	)
Ending fair value of plan assets	$	184,701		$	175,864		$	32,167		$	29,799
Funded status at end of year	$	(84,248	)	$	(61,506	)	$	(39,194	)	$	(42,137	)
Amounts recognized in financial statements:
Noncurrent asset	$	—		$	—		$	191		$	497
Accrued benefit liability		(571	)		(467	)		(4	)		(346	)
Long-term pension and retirement obligations		(83,677	)		(61,039	)		(39,381	)		(42,288	)
Total amount recognized in financial statements	$	(84,248	)	$	(61,506	)	$	(39,194	)	$	(42,137	)

	United States				International
	2011		2010		2011			2010
Amounts recognized in accumulated other comprehensive (gain) loss:
Net actuarial (gain) loss	$	136,927	$	123,449	$	14,937		$	17,486
Prior service cost (credit)		2,035		2,695		(1,201	)		14
Accumulated other comprehensive (gain) loss	$	138,962	$	126,144	$	13,736		$	17,500
Amounts expected to be recognized during next fiscal year:
Amortization of net actuarial (gain) loss	$	11,356	$	7,226	$	579		$	857
Amortization of prior service cost (credit)		667		666		(98	)		5
Total	$	12,023	$	7,892	$	481		$	862

	United States						International
	2011			2010			2011			2010
Change in benefit obligation:
Benefit obligation at beginning of year	$	55,599		$	52,858		$	659		$	605
Service cost		1,122			837			31			29
Interest cost		2,932			2,504			41			45
Participant contributions		1,307			1,143			—			—
Plan amendment		—			(1,171	)		—			—
Foreign currency exchange rate change		—			—			13			37
Actuarial (gain) loss		14,409			1,326			(62	)		(53	)
Benefits paid		(1,977	)		(1,898	)		(4	)		(4	)
Benefit obligation at end of year	$	73,392		$	55,599		$	678		$	659
Change in plan assets:
Beginning fair value of plan assets	$	—		$	—		$	—		$	—
Company contributions		670			755			4			4
Participant contributions		1,307			1,143			—			—
Benefits paid		(1,977	)		(1,898	)		(4	)		(4	)
Ending fair value of plan assets	$	—		$	—		$	—		$	—
Funded status at end of year	$	(73,392	)	$	(55,599	)	$	(678	)	$	(659	)
Amounts recognized in financial statements:
Accrued benefit liability	$	(2,123	)	$	(2,339	)	$	(4	)	$	(4	)
Long-term postretirement obligations		(71,269	)		(53,260	)		(674	)		(655	)
Total amount recognized in financial statements	$	(73,392	)	$	(55,599	)	$	(678	)	$	(659	)

The 2010 Amendment noted in the preceding table relates to changes in deductibles and out-of-pocket maximums and changes in limits for certain benefits.

	United States						International
	2011			2010			2011			2010
Amounts recognized in accumulated other comprehensive (gain) loss:
Net actuarial (gain) loss	$	37,690		$	24,887		$	(260	)	$	(203	)
Prior service cost (credit)		(2,316	)		(3,464	)		—			—
Accumulated other comprehensive (gain) loss	$	35,374		$	21,423		$	(260	)	$	(203	)
Amounts expected to be recognized during next fiscal year:
Amortization of net actuarial (gain) loss	$	2,681		$	1,498		$	(14	)	$	(5	)
Amortization of prior service cost (credit)		(584	)		(1,147	)		—			—
Total	$	2,097		$	351		$	(14	)	$	(5	)

Summary of changes in accumulated other comprehensive (gain) loss

	United States						International
	2011			2010			2011			2010
Balance at beginning of year	$	126,144		$	124,496		$	17,500		$	9,569
Net (gain) loss arising during the year		20,917			15,787			(1,773	)		8,319
Prior service cost (credit) arising during the year		5			643			(1,210	)		—
Net gain (loss) recognized during the year		(7,438	)		(6,181	)		(858	)		(369	)
Settlement loss		—			(8,022	)		—			(190	)
Prior service (cost) credit recognized during the year		(666	)		(579	)		(5	)		(49	)
Exchange rate effect during the year		—			—			82			220
Balance at end of year	$	138,962		$	126,144		$	13,736		$	17,500

	United States						International
	2011			2010			2011			2010
Balance at beginning of year	$	21,423		$	21,291		$	(203	)	$	(146	)
Net (gain) loss arising during the year		14,410			1,326			(62	)		(53	)
Prior service cost (credit) arising during the year		—			(1,171	)		—			—
Net gain (loss) recognized during the year		(1,606	)		(1,170	)		8			5
Prior service credit (cost) recognized during the year		1,147			1,147			—			—
Exchange rate effect during the year		—			—			(3	)		(9	)
Balance at end of year	$	35,374		$	21,423		$	(260	)	$	(203	)

Weighted average assumptions representing the rates used to develop the actuarial present value of projected benefit obligation and the net periodic benefit costs

	United States									International
	2011			2010			2009			2011			2010			2009
Assumptions used to determine benefit obligations at October 31:
Discount rate		4.46	%		5.21	%		5.50	%		4.43	%		4.17	%		4.78	%
Rate of compensation increase		3.20			3.30			3.30			3.16			3.21			2.86
Assumptions used to determine net benefit costs for the years ended October 31:
Discount rate		5.21			5.50			8.00			4.17			4.78			5.87
Expected return on plan assets		8.25			8.51			8.48			4.84			4.85			5.04
Rate of compensation increase		3.30			3.30			3.30			3.21			2.86			3.45

	United States									International
	2011			2010			2009			2011			2010			2009
Assumptions used to determine benefit obligations at October 31:
Discount rate		4.50	%		5.25	%		5.50	%		5.85	%		5.75	%		6.75	%
Health care cost trend rate		9.36			9.00			8.25			7.00			6.80			7.50
Rate to which health care cost trend rate is assumed to decline (ultimate trend rate)		5.00			5.00			4.50			3.50			4.80			4.80
Year the rate reaches the ultimate trend rate		2016			2020			2015			2031			2013			2013
Assumption used to determine net benefit costs for the years ended October 31:
Discount rate		5.25	%		5.50	%		8.00	%		5.75	%		6.75	%		7.70	%

Effect of a one percent change in the discount rate, expected return on assets and compensation increase

	United States						International
	1% Point Increase			1% Point Decrease			1% Point Increase			1% Point Decrease
Discount rate:
Effect on total service and interest cost components in 2011	$	(3,107	)	$	3,696		$	(324	)	$	405
Effect on pension obligation as of October 31, 2011	$	(34,776	)	$	43,229		$	(11,917	)	$	13,847
Expected return on assets:
Effect on total service and interest cost components in 2011	$	(1,889	)	$	1,888		$	(302	)	$	301
Effect on pension obligation as of October 31, 2011	$	—		$	—		$	—		$	—
Compensation increase:
Effect on total service and interest cost components in 2011	$	2,816		$	(2,291	)	$	462		$	(420	)
Effect on pension obligation as of October 31, 2011	$	14,649		$	(12,040	)	$	8,575		$	(7,062	)

Summary of changes in fair value of the pension plan investments

	2011		2010
Balance at beginning of year	$	17,699	$	17,600
Net unrealized gains		55		692
Purchases, sales, issuances and settlements, net		679		(231	)
Transfers in (out)		—		—
Foreign currency translation		68		(362	)
Balance at end of year	$	18,501	$	17,699

Retiree pension benefit payments

Year	United States		International
2012	$	12,762	$	1,942
2013		11,443		1,989
2014		12,669		2,399
2015		13,982		2,840
2016		14,243		2,288
2017-2021		92,072		17,271

	United States				International
Year	With Medicare Part D Subsidy		Without Medicare Part D Subsidy
2012	$	2,123	$	1,872	$	4
2013		2,316		2,013		4
2014		2,693		2,345		8
2015		2,955		2,556		16
2016		3,238		2,787		17
2017-2021		18,483		15,279		115

Defined benefit plan effect of one percentage point change in assumed health care cost trend rates and discount rate

	United States						International
	1% Point Increase			1% Point Decrease			1% Point Increase			1% Point Decrease
Discount rate:
Effect on total service and interest cost components in 2011	$	(628	)	$	753		$	(9	)	$	11
Effect on postretirement obligation as of October 31, 2011	$	(10,119	)	$	12,871		$	(135	)	$	181
Health care trend rate:
Effect on total service and interest cost components in 2011	$	871		$	(688	)	$	19		$	(14	)
Effect on postretirement obligation as of October 31, 2011	$	11,804		$	(9,476	)	$	174		$	(132	)

Accumulated benefit obligation

	United States				International
	2011		2010		2011		2010
For all plans:
Accumulated benefit obligation	$	261,767	$	223,966	$	56,529	$	55,865
For plans with benefit obligations in excess of plan assets:
Projected benefit obligation		268,949		237,370		64,945		60,050
Accumulated benefit obligation		261,767		223,966		54,749		49,631
Fair value of plan assets		184,701		175,864		30,185		23,047

Net pension benefit costs

	United States									International
	2011			2010			2009			2011			2010			2009
Service cost	$	6,058		$	5,997		$	4,177		$	2,097		$	1,632		$	1,315
Interest cost		12,008			11,883			11,897			2,973			2,791			2,625
Expected return on plan assets		(15,575	)		(14,716	)		(11,982	)		(1,466	)		(1,348	)		(1,210	)
Amortization of prior service cost (credit)		666			579			603			5			49			49
Amortization of net actuarial (gain) loss		7,438			6,181			854			858			369			(19	)
Settlement loss		—			8,022			1,629			—			190			287
Total benefit cost	$	10,595		$	17,946		$	7,178		$	4,467		$	3,683		$	3,047

	United States									International
	2011			2010			2009			2011			2010			2009
Service cost	$	1,122		$	837		$	589		$	31		$	29		$	23
Interest cost		2,932			2,504			2,926			41			44			35
Amortization of prior service cost (credit)		(1,147	)		(1,147	)		(1,009	)		—			—			—
Amortization of net actuarial (gain) loss		1,606			1,170			765			(8	)		(5	)		(11	)
Total benefit cost	$	4,513		$	3,364		$	3,271		$	64		$	68		$	47

Allocation of pension plan assets

	United States				International
	2011		2010		2011		2010
Asset Category
Equity securities		22%		83%		—%		—%
Debt securities		33		16		—		—
Insurance contracts		—		—		58		59
Pooled investment funds		44		—		41		40
Other		1		1		1		1
Total		100%		100%		100%		100%

Fair values of Pension Plan Assets

	United States								International
	Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3
Cash	$	618	$	618	$	—	$	—	$	322	$	322	$	—	$	—
Money market funds		1,845		1,845		—		—		—		—		—		—
Equity securities:
Basic materials		5,081		5,081		—		—		—		—		—		—
Consumer goods		5,942		5,942		—		—		—		—		—		—
Financial		6,989		6,989		—		—		—		—		—		—
Healthcare		4,062		4,062		—		—		—		—		—		—
Industrial goods		3,993		3,993		—		—		—		—		—		—
Technology		4,767		4,767		—		—		—		—		—		—
Utilities		1,578		1,578		—		—		—		—		—		—
Mutual funds		7,353		7,353		—		—		—		—		—		—
Fixed income securities:
U.S. Government		24,224		2,445		21,779		—		—		—		—		—
Corporate		35,514		—		35,514		—		—		—		—		—
Other		826		—		826		—		—		—		—		—
Other types of investments:
Insurance contracts		—		—		—		—		18,501		—		—		18,501
Pooled investment funds		81,062		—		81,062		—		13,344		—		13,344		—
Other		847		847		—		—		—		—		—		—
	$	184,701	$	45,520	$	139,181	$	—	$	32,167	$	322	$	13,344	$	18,501

	United States								International
	Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3
Cash	$	580	$	580	$	—	$	—	$	—	$	—	$	—	$	—
Money market funds		19,224		19,224		—		—		309		309		—		—
Equity securities:
Basic materials		6,776		6,776		—		—		—		—		—		—
Consumer goods		7,789		7,789		—		—		—		—		—		—
Financial		9,768		9,768		—		—		—		—		—		—
Healthcare		4,483		4,483		—		—		—		—		—		—
Industrial goods		4,623		4,623		—		—		—		—		—		—
Technology		4,339		4,339		—		—		—		—		—		—
Utilities		1,839		1,839		—		—		—		—		—		—
Mutual funds		87,339		87,339		—		—		—		—		—		—
Fixed income securities:
U.S. Government		14,329		4,068		10,261		—		—		—		—		—
Corporate		14,489		—		14,489		—		—		—		—		—
Other		57		—		57		—		—		—		—		—
Other types of investments:
Insurance contracts		—		—		—		—		17,699		—		—		17,699
Pooled investment funds		—		—		—		—		11,791		—		11,791		—
Other		229		229		—		—		—		—		—		—
	$	175,864	$	151,057	$	24,807	$	—	$	29,799	$	309	$	11,791	$	17,699

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Financial instruments (Details 1) (USD $) In Thousands, unless otherwise specified	Oct. 31, 2011	Oct. 31, 2010	Oct. 31, 2009	Oct. 31, 2008
Carrying amounts and fair values of financial instruments, other than receivables and accounts payable
Cash and cash equivalents, Carrying Amount	$ 37,408	$ 42,329	$ 18,781	$ 11,755
Cash and cash equivalents, Fair Value	37,408	42,329
Marketable securities, Carrying Amount	0	7,840
Marketable securities, Fair Value	0	7,840
Notes payable	33	2,160
Notes payable, Fair Value	33	2,160
Long-term debt	319,123	110,260
Long term debt, fair value	313,850	112,495
Foreign exchange contracts (net)	376	11,653
Foreign exchange contracts (net) fair value	$ 376	$ 11,653

XML

Valuation and Qualifying Accounts and Reserves (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Oct. 31, 2011	Oct. 31, 2010	Oct. 31, 2009
Allowance for Doubtful Accounts [Member]
Valuation and Qualifying Accounts and Reserves
Balance at Beginning of Year	$ 3,353	$ 3,728	$ 3,067
Assumed from Acquisitions	22	6
Charged to Expense	977	607	1,998
Deductions	1,047	901	1,654
Currency Effects	6	(87)	317
Balance at End of Year	3,311	3,353	3,728
Inventory Obsolescence and Other Reserves [Member]
Valuation and Qualifying Accounts and Reserves
Balance at Beginning of Year	16,802	15,740	13,133
Assumed from Acquisitions	8	187
Charged to Expense	3,982	4,233	5,654
Deductions	4,850	3,061	4,234
Currency Effects	108	(297)	1,187
Balance at End of Year	$ 16,050	$ 16,802	$ 15,740

XML

Stock-based compensation (Tables)

12 Months Ended

Oct. 31, 2011

Stock-based compensation (Tables) [Abstract]

Summarized activity related to stock options

	Number of Options			Weighted-Average Exercise Price Per Share		Aggregate Intrinsic Value		Weighted-Average Remaining Term
Outstanding at October 31, 2010		2,362		$	20.15
Granted		287		$	43.32
Exercised		(787	)	$	18.92
Forfeited or expired		(11	)	$	28.20
Outstanding at October 31, 2011		1,851		$	24.22	$	41,011		6.2 years
Vested at October 31, 2011 or expected to vest		1,773		$	23.93	$	39,791		6.1 years
Exercisable at October 31, 2011		944		$	19.79	$	25,100		4.5 years

Fair value assumptions of stock options

	2011	2010
Expected volatility	.431-.451	.429-.442
Expected dividend yield	1.28%	1.35-1.40%
Risk-free interest rate	1.89%-2.25%	2.27-3.18%
Expected life of the option (in years)	5.4-6.3	5.4-6.3

Summarized activity related to nonvested shares

	Number of Shares			Weighted-Average Grant Date Fair Value Per Share
Nonvested at October 31, 2010		80		$	24.70
Granted		38		$	43.41
Vested		(36	)	$	21.11
Forfeited		(1	)	$	43.32
Nonvested at October 31, 2011		81		$	34.95

Summarized activity related to director deferred compensation shares

	Number of Shares			Weighted-Average Grant Date Fair Value Per Share
Outstanding at October 31, 2010		267		$	16.54
Deferrals		3		$	48.82
Restricted stock units vested		18		$	16.55
Dividend equivalents		2		$	47.99
Distributions		(47	)	$	15.27
Outstanding at October 31, 2011		243		$	17.51

Summarized information on currently outstanding options

	Range of Exercise Price
	$11 — $20		$21 — $28		$29 — $44
Number outstanding		843		655		353
Weighted-average remaining contractual life, in years		4.7		6.5		8.9
Weighted-average exercise price	$	15.69	$	26.22	$	40.85
Number exercisable		596		331		17
Weighted-average exercise price	$	16.24	$	25.62	$	30.70

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Retirement, pension and other postretirement plans (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Oct. 31, 2011	Oct. 31, 2010	Oct. 31, 2009
Pension plan, United States [Member]
Change in benefit obligation:
Benefit obligation at beginning of year	$ 237,370	$ 224,966
Service cost	6,058	5,997	4,177
Interest cost	12,008	11,883	11,897
Plan amendments	5	643
Actuarial (gain) loss	21,289	18,336
Benefits paid	(7,781)	(24,455)
Benefit obligation at end of year	268,949	237,370	224,966
Change in plan assets:
Balance at beginning of year	175,864	113,356
Actual return on plan assets	15,946	17,266
Company contributions	672	69,697
Benefits paid	(7,781)	(24,455)
Balance at end of year	184,701	175,864	113,356
Funded status at end of year	(84,248)	(61,506)
Amounts recognized in financial statements:
Accrued benefit liability	(571)	(467)
Long-term pension and retirement obligations	(83,677)	(61,039)
Total amount recognized in financial statements	(84,248)	(61,506)
Amounts recognized in accumulated other comprehensive (gain) loss:
Net actuarial (gain) loss	136,927	123,449
Prior service cost (credit)	2,035	2,695
Accumulated other comprehensive (gain) loss	138,962	126,144	124,496
Amounts expected to be recognized during next fiscal year:
Amortization of net actuarial (gain) loss	11,356	7,226
Amortization of prior service cost (credit)	667	666
Total	12,023	7,892
Pension plan International [Member]
Change in benefit obligation:
Benefit obligation at beginning of year	71,936	61,631
Service cost	2,097	1,632	1,315
Interest cost	2,973	2,791	2,625
Participant contributions	124	128
Plan amendments	(1,210)
Addition of plan from business combination		1,241
Foreign currency exchange rate change	345	(448)
Actuarial (gain) loss	(2,567)	7,966
Benefits paid	(2,337)	(3,005)
Benefit obligation at end of year	71,361	71,936	61,631
Change in plan assets:
Balance at beginning of year	29,799	28,833
Actual return on plan assets	672	994
Company contributions	3,788	3,446
Participant contributions	124	128
Foreign currency exchange rate change	121	(597)
Benefits paid	(2,337)	(3,005)
Balance at end of year	32,167	29,799	28,833
Funded status at end of year	(39,194)	(42,137)
Amounts recognized in financial statements:
Noncurrent asset	191	497
Accrued benefit liability	(4)	(346)
Long-term pension and retirement obligations	(39,381)	(42,288)
Total amount recognized in financial statements	(39,194)	(42,137)
Amounts recognized in accumulated other comprehensive (gain) loss:
Net actuarial (gain) loss	14,937	17,486
Prior service cost (credit)	(1,201)	14
Accumulated other comprehensive (gain) loss	13,736	17,500	9,569
Amounts expected to be recognized during next fiscal year:
Amortization of net actuarial (gain) loss	579	857
Amortization of prior service cost (credit)	(98)	5
Total	$ 481	$ 862

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Income taxes (Details 2) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Oct. 31, 2011	Oct. 31, 2010	Oct. 31, 2009
Income taxes computed at the U.S. statutory rate and income tax
Tax at statutory rate of 35%	$ 110,096	$ 80,962	$ (44,517)
Impact of goodwill charge			79,064
Domestic Production Deduction	(5,530)	(1,737)	(1,134)
Foreign tax rate variances, net of foreign tax credits	(7,906)	(10,550)	1,279
State and local taxes, net of federal income tax benefit	1,310	(1,828)	1,160
Tax expense related to tax law change		5,249
Tax benefit from sale of UV product lines		(10,243)
Amounts related to prior years	(4,123)	776	(3,283)
Other - net	(1,650)	642	295
Total income tax expense	$ 92,197	$ 63,271	$ 32,864

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Consolidated Statements of Income (USD $) In Thousands, except Per Share data, unless otherwise specified	12 Months Ended
	Oct. 31, 2011	Oct. 31, 2010	Oct. 31, 2009
Consolidated Statements of Income [Abstract]
Sales	$ 1,233,159	$ 1,041,551	$ 819,165
Operating costs and expenses:
Cost of sales	484,727	419,937	350,239
Selling and administrative expenses	429,489	384,752	337,294
Severance and restructuring costs	1,589	2,029	16,396
Goodwill and long-lived asset impairments	1,811		243,043
Total operating costs and expenses	917,616	806,718	946,972
Operating profit (loss)	315,543	234,833	(127,807)
Other income (expense):
Interest expense	(5,069)	(6,263)	(7,771)
Interest and investment income	569	819	492
Other - net	3,518	1,930	7,895
Total other income (expense)	(982)	(3,514)	616
Income (loss) before income taxes	314,561	231,319	(127,191)
Income tax provision:
Current	91,481	36,441	28,809
Deferred	716	26,830	4,055
Total income tax expense	92,197	63,271	32,864
Net income (loss)	$ 222,364	$ 168,048	$ (160,055)
Average common shares	67,616	67,610	67,129
Incremental common shares attributable to outstanding stock options, nonvested stock and deferred stock-based compensation	809	832
Average common shares and common share equivalents	68,425	68,442	67,129
Basic earnings (loss) per share	$ 3.29	$ 2.49	$ (2.38)
Diluted earnings (loss) per share	$ 3.25	$ 2.46	$ (2.38)
Dividends declared per common share	$ 0.44	$ 0.39	$ 0.36875

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Fair value measurements (Tables)

12 Months Ended

Oct. 31, 2011

Fair value measurements (Tables) [Abstract]

Schedule of assets and liabilities measured at fair value on recurring basis

	Total		Level 1		Level 2		Level 3
Assets:
Rabbi trust (a)	$	13,678	$	—	$	13,678	$	—
Forward exchange contracts (b)		1,401		—		1,401		—
Total assets at fair value	$	15,079	$	—	$	15,079	$	—
Liabilities:
Deferred compensation plans (c)	$	6,278	$	6,278	$	—	$	—
Forward exchange contracts (b)		1,025		—		1,025		—
Total liabilities at fair value	$	7,303	$	6,278	$	1,025	$	—

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Acquisition (Details Textuals) (USD $) In Thousands, unless otherwise specified	12 Months Ended					12 Months Ended		12 Months Ended		12 Months Ended				3 Months Ended				12 Months Ended				12 Months Ended
	Oct. 31, 2011	Oct. 31, 2010	Oct. 31, 2011 Value Plastics Inc [Member]	Oct. 31, 2010 Value Plastics Inc [Member]	Aug. 26, 2011 Value Plastics Inc [Member]	Oct. 31, 2011 Value Plastics Inc [Member] Customer relationships [Member] Year	Aug. 26, 2011 Value Plastics Inc [Member] Customer relationships [Member]	Oct. 31, 2011 Value Plastics Inc [Member] Trade names [Member] Year	Aug. 26, 2011 Value Plastics Inc [Member] Trade names [Member]	Oct. 31, 2011 Value Plastics Inc [Member] Technology and know-how [member] Year	Aug. 26, 2011 Value Plastics Inc [Member] Technology and know-how [member]	Jan. 31, 2011 Micromedics Inc [Member]	Nov. 02, 2010 Micromedics Inc [Member]	Jan. 31, 2011 Micromedics Inc [Member] Customer relationships [Member] Year	Nov. 02, 2010 Micromedics Inc [Member] Customer relationships [Member]	Oct. 31, 2011 Constructiewerkhuizen G Verbruggen NV [Member]	Jun. 30, 2011 Constructiewerkhuizen G Verbruggen NV [Member]	Oct. 31, 2011 Constructiewerkhuizen G Verbruggen NV [Member] Customer relationships [Member] Year	Jun. 30, 2011 Constructiewerkhuizen G Verbruggen NV [Member] Customer relationships [Member]	Jan. 31, 2010 GLT Gesellschaft Fur Lottechnik [Member]	Jan. 05, 2010 GLT Gesellschaft Fur Lottechnik [Member]	Oct. 31, 2011 GLT Gesellschaft Fur Lottechnik [Member] Customer relationships [Member] Year	Jan. 05, 2010 GLT Gesellschaft Fur Lottechnik [Member] Customer relationships [Member]
Acquisitions (Textuals) [Abstract]
Acquired percent of the outstanding shares					100.00%								100.00%				100.00%				100.00%
Fair value of the consideration transferred													$ 21,296				$ 13,305				$ 22,021
Fair value of the consideration transferred, net of cash acquired																					18,576
Goodwill												13,312				8,461				6,034
Fair value of the assets acquired and the liabilities assumed, goodwill			15,600
Fair value of the assets acquired and the liabilities assumed, intangible assets							40,400		15,400		18,500		7,500		4,550		4,017		2,900		7,270		5,661
Customer relationships amortization period						25		20		15				10				11				10
Intangible assets, amortization expense			3,829	3,829
Acquisition related expenses excluded from results	375
Adjusted to include acquisition related expenses		375
Nonrecurring expense related to the fair value adjustment to acquisition-date inventory excluded from pro forma results	2,401
Nonrecurring expense related to the fair value adjustment to acquisition-date inventory included in pro forma results		$ 4,575

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Subsequent events (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Oct. 31, 2011	Dec. 09, 2011	Oct. 31, 2010
Line of Credit Facility [Line Items]
Maximum borrowings under bank lines of credit	$ 43,305	$ 500,000	$ 39,710
Subsequent Events (Textuals) [Abstract]
Period of unsecured multicurrency credit facility	5 years
Unsecured multicurrency credit facility increased under certain condition	750,000
Expiration year of loan agreement	2012
Swing Line Loans Credit Facility [Member]
Line of Credit Facility [Line Items]
Maximum borrowings under bank lines of credit	$ 40,000

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Consolidated Statements of Shareholders' Equity (Parenthetical) (USD $) In Thousands, except Per Share data, unless otherwise specified	12 Months Ended
	Oct. 31, 2011	Oct. 31, 2010	Oct. 31, 2009
Retained earnings
Dividends paid per share	$ 0.44	$ 0.39	$ 0.36875
Accumulated other comprehensive income (loss)
Tax on remeasurement of supplemental pension liability		$ 1,648	$ 2,074
Tax on settlement loss recognized		(3,085)	(728)
Tax on net prior service cost (credit) occurring during the year	(315)	3	(421)
Tax on net actuarial loss occurring during the year	$ 9,002	$ 4,756	$ 30,339

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Acquisitions (Details) (Value Plastics [Member], USD $) In Thousands, unless otherwise specified	Oct. 31, 2011
Value Plastics [Member]
Fair values:
Assets acquired	$ 26,647
Liabilities assumed	(18,930)
Intangible assets subject to amortization	74,720
Goodwill	179,050
Fair value of the assets acquired and the liabilities assumed, intangible assets	261,487
Less cash acquired	(3,108)
Purchase price	$ 258,379

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Retirement, pension and other postretirement plans (Details 6)	Oct. 31, 2011	Oct. 31, 2010
Pension plan, United States [Member]
Asset Category
Equity securities	22.00%	83.00%
Debt securities	33.00%	16.00%
Insurance contracts	0.00%	0.00%
Pooled investment funds	44.00%	0.00%
Other	1.00%	1.00%
Total	100.00%	100.00%
Pension plan International [Member]
Asset Category
Equity securities	0.00%	0.00%
Debt securities	0.00%	0.00%
Insurance contracts	58.00%	59.00%
Pooled investment funds	41.00%	40.00%
Other	1.00%	1.00%
Total	100.00%	100.00%

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Operating segments and geographic area data (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended								12 Months Ended
	Oct. 31, 2011	Jul. 31, 2011	Apr. 30, 2011	Jan. 31, 2011	Oct. 31, 2010	Jul. 31, 2010	Apr. 30, 2010	Jan. 31, 2010	Oct. 31, 2011	Oct. 31, 2010	Oct. 31, 2009
Reportable segments
Net external sales	$ 331,018	$ 312,255	$ 318,924	$ 270,962	$ 290,182	$ 279,121	$ 251,659	$ 220,589	$ 1,233,159	$ 1,041,551	$ 819,165
Depreciation									20,758	22,625	26,310
Operating profit (loss)									315,543	234,833	(127,807)
Identifiable assets	1,320,391				997,363				1,320,391	997,363	896,962
Expenditure for long-lived assets									20,239	14,317	12,514
Adhesive Dispensing Systems [Member]
Reportable segments
Net external sales									611,911	525,290	460,746
Depreciation									7,087	8,014	9,087
Operating profit (loss)									210,350	166,255	127,589
Identifiable assets	286,974				251,881				286,974	251,881	226,904
Expenditure for long-lived assets									4,477	1,857	1,922
Advanced Technology Systems [Member]
Reportable segments
Net external sales									438,634	369,449	242,247
Depreciation									7,869	7,641	7,268
Operating profit (loss)									114,903	84,247	(214,781)
Identifiable assets	692,295				477,563				692,295	477,563	448,196
Expenditure for long-lived assets									4,842	2,792	7,089
Industrial Coating Systems [Member]
Reportable segments
Net external sales									182,614	146,812	116,172
Depreciation									2,837	2,851	3,326
Operating profit (loss)									26,977	14,588	(6,895)
Identifiable assets	70,622				61,256				70,622	61,256	53,176
Expenditure for long-lived assets									2,428	548	865
Corporate [Member]
Reportable segments
Depreciation									2,965	4,119	6,629
Operating profit (loss)									(36,687)	(30,257)	(33,720)
Identifiable assets	270,500				206,663				270,500	206,663	168,686
Expenditure for long-lived assets									$ 8,492	$ 9,120	$ 2,638

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Leases (Tables)

12 Months Ended

Oct. 31, 2011

Leases (Tables) [Abstract]

Assets held under capitalized leases and included in property, plant and equipment

	2011			2010
Transportation equipment	$	14,215		$	13,870
Other		2,581			1,009
Total capitalized leases		16,796			14,879
Accumulated amortization		(6,969	)		(7,799	)
Net capitalized leases	$	9,827		$	7,080

Future minimum lease payments under noncancelable capitalized and operating leases

	Capitalized Leases		Operating Leases
Year:
2012	$	5,481	$	10,955
2013		4,036		6,244
2014		2,211		4,429
2015		637		2,863
2016		49		2,216
Later years		—		9,095
Total minimum lease payments		12,414	$	35,802
Less amount representing executory costs		1,812
Net minimum lease payments		10,602
Less amount representing interest		1,269
Present value of net minimum lease payments		9,333
Less current portion		4,131
Long-term obligations at October 31, 2011	$	5,202

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Retirement, pension and other postretirement plans (Details 12) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Oct. 31, 2011	Oct. 31, 2010	Oct. 31, 2009
Postretirement Benefit Plans United States [Member]
Components of net postretirement benefit costs
Service cost	$ 1,122	$ 837	$ 589
Interest cost	2,932	2,504	2,926
Amortization of prior service cost (credit)	(1,147)	(1,147)	(1,009)
Amortization of net actuarial (gain) loss	1,606	1,170	765
Total benefit cost	4,513	3,364	3,271
Postretirement Benefit Plans International [Member]
Components of net postretirement benefit costs
Service cost	31	29	23
Interest cost	41	45	35
Amortization of net actuarial (gain) loss	(8)	(5)	(11)
Total benefit cost	$ 64	$ 68	$ 47

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Supplemental information for the statement of cash flows

12 Months Ended

Oct. 31, 2011

Supplemental information for the statement of cash flows [Abstract]

Supplemental information for the statement of cash flows

Note 15 — Supplemental information for the statement of cash flows

	2011		2010		2009
Cash operating activities:
Interest paid	$	5,253	$	6,518	$	7,986
Income taxes paid		96,487		21,526		24,893
Non-cash investing and financing activities:
Capitalized lease obligations incurred	$	8,154	$	5,468	$	3,257
Capitalized lease obligations terminated		534		721		2,376
Shares acquired and issued through exercise of stock options		5,228		5,151		73

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Notes payable (Tables)

12 Months Ended

Oct. 31, 2011

Notes payable [Abstract]

Bank lines of credit and notes

	2011			2010
Maximum borrowings under bank lines of credit:
Domestic banks	$	—		$	—
Foreign banks		43,305			39,710
Total	$	43,305		$	39,710
Outstanding notes payable:
Domestic bank debt	$	—		$	—
Foreign bank debt		33			2,160
Total	$	33		$	2,160
Weighted-average interest rate on notes payable		1.5	%		4.1	%
Unused bank lines of credit	$	43,272		$	37,550

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Supplemental information for the statement of cash flows (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Oct. 31, 2011	Oct. 31, 2010	Oct. 31, 2009
Cash operating activities:
Interest paid	$ 5,253	$ 6,518	$ 7,986
Income taxes paid	96,487	21,526	24,893
Non-cash investing and financing activities:
Capitalized lease obligations incurred	8,154	5,468	3,257
Capitalized lease obligations terminated	534	721	2,376
Shares acquired and issued through exercise of stock options	$ 5,228	$ 5,151	$ 73

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Goodwill and intangible assets

12 Months Ended

Oct. 31, 2011

Goodwill and intangible assets [Abstract]

Goodwill and intangible assets

Note 17 — Goodwill and intangible assets

Goodwill is the excess of purchase price over the fair value of tangible and identifiable intangible net assets acquired in various business combinations. Goodwill is not amortized but is tested for impairment annually at the reporting unit level, or more often if indications of impairment exist. We assess the fair value of reporting units on a non-recurring basis using a combination of two valuation methods, a market approach and an income approach, to estimate the fair value of our reporting units. The implied fair value of our reporting units is determined based on significant unobservable inputs; accordingly, these inputs fall within Level 3 of the fair value hierarchy.

Our reporting units are the Adhesive Dispensing Systems segment, the Industrial Coating Systems segment and one level below the Advanced Technology Systems segment.

The goodwill impairment test is a two-step process. In the first step, performed in the fourth quarter of each year, we calculate a fair value using a discounted cash flow valuation methodology and compare the result against the carrying value for net assets of each reporting unit. Indications of value derived for each reporting unit using the market approach are corroborated with the results of the discounted cash flow approach. If the carrying value of a reporting unit exceeds its fair value, then a second step is performed to determine if goodwill is impaired. In the second step, a hypothetical purchase price allocation of the reporting unit’s assets and liabilities is performed using the fair value calculated in step one. The difference between the fair value of the reporting unit and the hypothetical fair value of assets and liabilities is the implied goodwill amount. Impairment is recorded if the carrying value of the reporting unit’s goodwill is higher than its implied goodwill. Based upon results of step one in 2011 and 2010, the second step of the goodwill impairment test was not necessary.

We acquired Value Plastics on August 26, 2011, subsequent to the measurement date for impairment testing. Determination of the preliminary fair value associated with this acquisition was completed with the assistance of an independent valuation specialist on October 5, 2011. Since the date of valuation, no events or changes in circumstances have occurred that would more likely than not reduce the fair value of Value Plastics below its carrying value. For valuation purposes, Value Plastics will be a component of EFD.

In 2009, the second step of the goodwill impairment test was performed and we recognized an impairment charge related to a reduction in the carrying value of goodwill in the amount of $232,789, relating to six reporting units as follows: Dage $166,916, Picodostec $7,530, YESTech $26,149, March Plasma Systems $16,449, UV Curing $12,129, and Industrial Coating Systems $3,616. These amounts represented the accumulated impairment losses at October 31, 2011 and 2010.

On November 1, 2010 we completed the acquisition of Micromedics that resulted in $13,312 of goodwill. On June 30, 2011 we completed the acquisition of Verbruggen that resulted in $8,461 of goodwill. On August 26, 2011, we completed the acquisition of Value Plastics that resulted in $179,050 of goodwill.

Changes in the carrying amount of goodwill during 2011 by operating segment follow:

	Adhesive Dispensing Systems			Advanced Technology Systems			Industrial Coating Systems		Total
Balance at October 31, 2010	$	33,783		$	313,543		$	—	$	347,326
Acquisitions/Adjustment		8,638			192,362			—		201,000
Currency effect		(459	)		(41	)		—		(500	)
Balance at October 31, 2011	$	41,962		$	505,864		$	—	$	547,826

Information regarding intangible assets subject to amortization follows:

	October 31, 2011
	Carrying Amount		Accumulated Amortization		Net Book Value
Patent/technology costs	$	43,235	$	11,571	$	31,664
Customer relationships		78,324		11,843		66,481
Noncompete agreements		5,042		3,727		1,315
Trade name		22,143		1,530		20,613
Other		1,437		811		626
Total	$	150,181	$	29,482	$	120,699

	October 31, 2010
	Carrying Amount		Accumulated Amortization		Net Book Value
Patent/technology costs	$	23,429	$	9,084	$	14,345
Customer relationships		30,630		8,273		22,357
Noncompete agreements		5,982		4,857		1,125
Trade name		1,684		479		1,205
Other		1,432		636		796
Total	$	63,157	$	23,329	$	39,828

In 2010 and 2009, indefinite-lived intangible assets consisted of trademarks and trade names. These assets were not subject to amortization but needed to be tested for impairment annually or more often if indications of impairment existed. The impairment test consisted of a comparison of the fair value of the intangible asset with its carrying amount. If the carrying amount of an intangible asset exceeded its fair value, an impairment charge was recognized in an amount equal to that excess. After an impairment charge was recognized, the adjusted carrying amount of the intangible asset became its new accounting basis. Subsequent reversal of a previously recognized impairment charge is prohibited.

The common valuation technique for determining the fair value of trademark and trade names is the “relief from royalty method” which is based on significant unobservable inputs; accordingly, these inputs fall within Level 3 of the fair value hierarchy. The theory is that these assets relieve the owner from having to pay a hypothetical royalty attributable to an exclusive license for selling products under the trademark or trade name. The value of the hypothetical exclusive license is based upon the present value of a stream of hypothetical royalty payments, using assumptions for revenue growth (the same as for goodwill testing), discount rates (slightly more risk premium than for goodwill testing), royalty rates (based on market data), and tax amortization benefits (based upon statutory guidance). No impairment charges were recorded in 2010. In 2009, this testing resulted in impairment charges totaling $8,282 as follows by reporting unit: Dage $5,365, Picodostec $157, YESTech $350, and TAH Industries $2,410. The charge for the TAH trade name was due to our branding program, under which TAH product lines are being integrated into and marketed as “Nordson EFD” over the next several years. Accordingly, the TAH trade name was converted to a finite-lived asset.

At October 31, 2010, $3,099 of trademark and trade name intangible assets were not subject to amortization. Effective November 1, 2010, the Dage trade name was converted from an indefinite lived asset to a finite lived asset with a remaining life of 20 years.

Amortization expense for 2011 and 2010 was $8,018 and $6,263, respectively.

Estimated amortization expense for each of the five succeeding years follows:

Year	Amounts
2012	$	10,359
2013	$	9,713
2014	$	8,881
2015	$	8,330
2016	$	7,793

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Retirement, pension and other postretirement plans (Details15) (USD $) In Thousands, unless otherwise specified	Oct. 31, 2011
With Medicare Part D US Subsidy [Member]
Retiree pension benefit payments
2012	$ 2,123
2013	2,316
2014	2,693
2015	2,955
2016	3,238
2017-2021	18,483
Without Medicare Part D US Subsidy [Member]
Retiree pension benefit payments
2012	1,872
2013	2,013
2014	2,345
2015	2,556
2016	2,787
2017-2021	15,279
Postretirement Benefit Plans International [Member]
Retiree pension benefit payments
2012	4
2013	4
2014	8
2015	16
2016	17
2017-2021	$ 115

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Fair value measurements (Details) (USD $) In Thousands, unless otherwise specified	Oct. 31, 2011
Assets:
Total assets at fair value	$ 15,079
Liabilities:
Deferred compensation plans	6,278
Total liabilities at fair value	7,303
Forward exchange contracts [Member]
Liabilities:
Forward exchange contracts	1,025
Level 1 [Member]
Liabilities:
Deferred compensation plans	6,278
Total liabilities at fair value	6,278
Level 1 [Member] | Forward exchange contracts [Member]
Liabilities:
Forward exchange contracts	0
Level 2 [Member]
Liabilities:
Deferred compensation plans	0
Total liabilities at fair value	1,025
Level 2 [Member] | Forward exchange contracts [Member]
Liabilities:
Forward exchange contracts	1,025
Level 3 [Member]
Liabilities:
Deferred compensation plans	0
Total liabilities at fair value	0
Level 3 [Member] | Forward exchange contracts [Member]
Liabilities:
Forward exchange contracts	0
Rabbi trust [Member]
Assets:
Rabbi trust	13,678
Forward exchange contracts [Member]
Assets:
Forward exchange contracts	1,401
Level 1 [Member]
Assets:
Total assets at fair value	0
Level 1 [Member] | Rabbi trust [Member]
Assets:
Rabbi trust	0
Level 1 [Member] | Forward exchange contracts [Member]
Assets:
Forward exchange contracts	0
Level 2 [Member]
Assets:
Total assets at fair value	15,079
Level 2 [Member] | Rabbi trust [Member]
Assets:
Rabbi trust	13,678
Level 2 [Member] | Forward exchange contracts [Member]
Assets:
Forward exchange contracts	1,401
Level 3 [Member]
Assets:
Total assets at fair value	0
Level 3 [Member] | Rabbi trust [Member]
Assets:
Rabbi trust	0
Level 3 [Member] | Forward exchange contracts [Member]
Assets:
Forward exchange contracts	$ 0

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Consolidated Statements of Cash Flows (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Oct. 31, 2011	Oct. 31, 2010	Oct. 31, 2009
Cash flows from operating activities:
Net income (loss)	$ 222,364	$ 168,048	$ (160,055)
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	20,758	22,625	26,310
Amortization	8,018	6,263	5,100
Goodwill and long-lived asset impairments	1,811		243,043
Provision for losses on receivables	977	607	1,998
Deferred income taxes	716	26,830	4,055
Tax benefit from the exercise of stock options	(6,924)	(7,798)	(284)
Non-cash stock compensation	8,845	7,633	(814)
(Gain)/loss on sale of property, plant and equipment	362	(18)	(4,324)
Loss on divestiture		357
Other	(5,628)	(10,791)	23,500
Changes in operating assets and liabilities:
Receivables	(4,474)	(50,732)	42,182
Inventories	(14,666)	(15,004)	22,688
Other current assets	(1,619)	222	1,170
Other noncurrent assets	875	(2,837)	(872)
Accounts payable	4,389	7,046	(10,257)
Income taxes payable	(1,993)	18,170	5,456
Accrued liabilities	3,263	5,466	(20,766)
Customer advance payments	(2,382)	2,614	853
Other noncurrent liabilities	12,035	(38,515)	(10,306)
Net cash provided by operating activities	246,727	140,186	168,677
Cash flows from investing activities:
Additions to property, plant and equipment	(20,239)	(14,317)	(12,514)
Proceeds from sale of property, plant and equipment	161	354	8,611
Sale of product lines		(990)
Acquisition of businesses, net of cash acquired	(292,980)	(18,576)
Proceeds from sale of (purchases of) marketable securities	7,552	(7,795)	(36)
Net cash used in investing activities	(305,506)	(41,324)	(3,939)
Cash flows from financing activities:
Proceeds from short-term borrowings	190	12,566	613
Repayment of short-term borrowings	(2,361)	(11,411)	(41,591)
Proceeds from long-term debt	1,039,800	116,000	46,200
Repayment of long-term debt	(830,937)	(162,290)	(132,490)
Repayment of capital lease obligations	(4,738)	(4,392)	(5,158)
Issuance of common shares	9,652	13,828	2,986
Purchase of treasury shares	(137,989)	(24,935)	(7,115)
Tax benefit from the exercise of stock options	6,924	7,798	284
Dividends paid	(29,838)	(26,439)	(24,747)
Net cash provided by (used in) financing activities	50,703	(79,275)	(161,018)
Effect of exchange rate changes on cash	3,155	3,961	3,306
Increase (decrease) in cash and cash equivalents	(4,921)	23,548	7,026
Cash and cash equivalents at beginning of year	42,329	18,781	11,755
Cash and cash equivalents at end of year	$ 37,408	$ 42,329	$ 18,781

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Consolidated Balance Sheets (USD $) In Thousands, unless otherwise specified	Oct. 31, 2011	Oct. 31, 2010
Current assets:
Cash and cash equivalents	$ 37,408	$ 42,329
Marketable securities	0	7,840
Receivables - net	254,310	243,790
Inventories - net	141,912	117,721
Deferred income taxes	35,693	33,576
Prepaid expenses	7,634	5,775
Total current assets	476,957	451,031
Property, plant and equipment - net	130,883	116,395
Goodwill	547,826	347,326
Intangible assets - net	120,699	42,927
Other assets	28,085	28,675
Total Assets	1,304,450	986,354
Current liabilities:
Notes payable	33	2,160
Accounts payable	46,381	40,262
Income taxes payable	15,283	24,336
Accrued liabilities	101,294	96,133
Customer advance payments	9,375	10,999
Current maturities of long-term debt	5,664	14,260
Current obligations under capital leases	4,131	3,764
Total current liabilities	182,161	191,914
Long-term debt	313,459	96,000
Obligations under capital leases	5,202	3,316
Pension and retirement obligations	123,058	103,327
Postretirement obligations	71,943	53,919
Deferred income taxes	17,415	9,745
Other liabilities	19,889	23,061
Shareholders' equity:
Preferred shares, no par value; 10,000 shares authorized; none issued
Common shares, no par value; 160,000 shares authorized; 98,023 shares issued at October 31, 2011 and 2010	12,253	12,253
Capital in excess of stated value	272,928	255,595
Retained earnings	990,221	797,695
Accumulated other comprehensive loss	(80,012)	(66,306)
Common shares in treasury, at cost	(624,067)	(494,165)
Total shareholders' equity	571,323	505,072
Total Liabilities and shareholders' equity	$ 1,304,450	$ 986,354

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Capital shares

12 Months Ended

Oct. 31, 2011

Capital shares [Abstract]

Capital shares

Note 10 — Capital shares

Preferred — We have authorized 10,000 Series A convertible preferred shares without par value. No preferred shares were outstanding in 2011, 2010 or 2009.

Common — On March 1, 2011, the Board of Directors declared a 2-for-1 stock split on our common shares, paid in the form of a 100 percent stock dividend on April 12, 2011 for all shares outstanding on March 25, 2011. Accordingly, all per-share amounts and number of common shares and common share equivalents have been adjusted retroactively to reflect the stock split.

We have 160,000 authorized common shares without par value. At October 31, 2011 and 2010, there were 98,023 common shares issued. At October 31, 2011 and 2010, the number of outstanding common shares, net of treasury shares, was 65,601 and 67,871, respectively.

Common shares repurchased during 2011, 2010 and 2009 were as follows:

Year	Number of Shares		Total Amount		Average per Share
2011		3,024	$	134,163	$	44.37
2010		697	$	22,047	$	31.63
2009		394	$	6,826	$	17.31

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Operating segments and geographic area data (Details Textuals) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Oct. 31, 2011 Customers BusinessSegments	Oct. 31, 2010 Customers	Oct. 31, 2009 Customers	Oct. 31, 2008	Jul. 31, 2011
Segment Reporting Information [Line Items]
Goodwill and long-lived asset impairments	$ 1,811		$ 243,043
Severance charges	1,589	2,029	16,396	5,561
Operating segments and geographic area data (Textuals) [Abstract]
Number of business segments	3
Major customers threshold limit	five percent or more of sales	five percent or more of sales	five percent or more of sales
Customers accounted for above threshold limit	0	0	0
Withdrawal from multiplier pension fund	3,120				3,136
Adhesive Dispensing Systems [Member]
Segment Reporting Information [Line Items]
Impairment charges related to write down of assets to fair value	1,811
Severance charges	1,589
Advanced Technology Systems [Member]
Segment Reporting Information [Line Items]
Goodwill and long-lived asset impairments	239,427
Industrial Coating Systems [Member]
Segment Reporting Information [Line Items]
Goodwill and long-lived asset impairments	$ 3,616

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Severance and restructuring costs (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Oct. 31, 2011	Oct. 31, 2010	Oct. 31, 2009	Oct. 31, 2008
Segment Reporting Information [Line Items]
Impairment loss	$ 1,811		$ 243,043
Severance and restructuring costs (Textuals) [Abstract]
Severance and restructuring costs	1,589	2,029	16,396	5,561
Total severance and restructuring costs		23,986
Utilized accrual balance at Oct 31,2010	923
Georgia [Member]
Segment Reporting Information [Line Items]
Severance costs and other termination fees associated with the restructuring	2,400
Severance and restructuring	1,557
Assets held for sale measured on non recurring basis	4,150
Impairment losses	1,322
Adhesive Dispensing Systems [Member]
Segment Reporting Information [Line Items]
Severance costs and other termination fees associated with the restructuring	200
Impairment losses	1,811
Severance and restructuring costs (Textuals) [Abstract]
Severance and restructuring costs	1,589
Adhesive Dispensing Systems [Member] | Germany [Member]
Segment Reporting Information [Line Items]
Severance Costs	32
Impairment loss	489
Level 2 [Member] | Adhesive Dispensing Systems [Member] | Germany [Member]
Segment Reporting Information [Line Items]
Assets held for sale measured on non recurring basis	$ 932

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Stock-based compensation (Details 4) (USD $) In Thousands, except Per Share data, unless otherwise specified	12 Months Ended
	Oct. 31, 2011
Summarized activity related to director deferred compensation shares
Number of Shares Outstanding, Beginning Balance	267
Number of Shares, Deferrals	3
Number of Shares, Restricted stock units vested	18
Number of Shares, Dividend equivalents	2
Number of Shares, Distributions	(47)
Number of Shares Outstanding, Ending Balance	243
Weighted Average Grant Date Fair Value, Outstanding, Beginning Balance	$ 16.54
Weighted Average Grant Date Fair Value, Deferrals	$ 48.82
Weighted Average Grant Date Fair Value, Restricted stock units vested	$ 16.55
Weighted Average Grant Date Fair Value, Dividend equivalents	$ 47.99
Weighted Average Grant Date Fair Value, Distributions	$ 15.27
Weighted Average Grant Date Fair Value, Outstanding, Ending Balance	$ 17.51

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Document and Entity Information (USD $)	12 Months Ended
	Oct. 31, 2011	Nov. 30, 2011	Apr. 29, 2011
Document and Entity Information [Abstract]
Entity Registrant Name	NORDSON CORP
Entity Central Index Key	0000072331
Document Type	10-K
Document Period End Date	Oct. 31, 2011
Amendment Flag	false
Document Fiscal Year Focus	2011
Document Fiscal Period Focus	FY
Current Fiscal Year End Date	--10-31
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Public Float			$ 3,670,599,000
Entity Common Stock, Shares Outstanding		65,343,146

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Stock-based compensation

12 Months Ended

Oct. 31, 2011

Stock-based compensation [Abstract]

Stock-based compensation

Note 11 — Stock-based compensation

The amended and restated 2004 long-term performance plan, approved by shareholders in 2008, provides for the granting of stock options, stock appreciation rights, nonvested (restricted) stock, stock purchase rights, stock equivalent units, nonvested (restricted) stock units, cash awards and other stock- or performance-based incentives. The number of common shares available for grant is 2.5 percent of the number of common shares outstanding as of the first day of each year. At the end of 2011, there were 1,640 shares available for grant in 2012.

Stock options — Nonqualified or incentive stock options may be granted to our employees and directors. Generally, options granted to employees may be exercised beginning one year from the date of grant at a rate not exceeding 25 percent per year for executive officers and 20 percent per year for other employees and expire 10 years from the date of grant. Vesting accelerates upon the occurrence of events that involve or may result in a change of control. Option exercises are satisfied through the issuance of treasury shares on a first-in, first-out basis. We recognized compensation expense of $2,906, $2,231 and $3,026 for 2011, 2010 and 2009, respectively.

Following is a summary of stock options for 2011:

	Number of Options			Weighted-Average Exercise Price Per Share		Aggregate Intrinsic Value		Weighted-Average Remaining Term
Outstanding at October 31, 2010		2,362		$	20.15
Granted		287		$	43.32
Exercised		(787	)	$	18.92
Forfeited or expired		(11	)	$	28.20
Outstanding at October 31, 2011		1,851		$	24.22	$	41,011		6.2 years
Vested at October 31, 2011 or expected to vest		1,773		$	23.93	$	39,791		6.1 years
Exercisable at October 31, 2011		944		$	19.79	$	25,100		4.5 years

Summarized information on currently outstanding options follows:

	Range of Exercise Price
	$11 — $20		$21 — $28		$29 — $44
Number outstanding		843		655		353
Weighted-average remaining contractual life, in years		4.7		6.5		8.9
Weighted-average exercise price	$	15.69	$	26.22	$	40.85
Number exercisable		596		331		17
Weighted-average exercise price	$	16.24	$	25.62	$	30.70

As of October 31, 2011, there was $6,859 of total unrecognized compensation cost related to nonvested stock options. That cost is expected to be amortized over a weighted average period of approximately 2.0 years.

The Black-Scholes option valuation model was developed for use in estimating the fair value of traded options that have no vesting restrictions and are fully transferable. Option valuation models require the input of highly subjective assumptions, including the expected stock price volatility. The fair value of each option grant was estimated at the date of grant using the Black-Scholes option-pricing model with the following assumptions:

	2011	2010
Expected volatility	.431-.451	.429-.442
Expected dividend yield	1.28%	1.35-1.40%
Risk-free interest rate	1.89%-2.25%	2.27-3.18%
Expected life of the option (in years)	5.4-6.3	5.4-6.3

The weighted-average expected volatility used to value options granted in 2011 and 2010 was .443 and .436, respectively. The weighted-average dividend yield used to value the 2010 options was 1.39%.

Historical information was the primary basis for the selection of the expected volatility, expected dividend yield and the expected lives of the options. The risk-free interest rate was selected based upon yields of United States Treasury issues with terms equal to the expected life of the option being valued.

The weighted average grant date fair value of stock options granted during 2011, 2010 and 2009 was $16.80, $11.08 and $5.31, respectively.

The total intrinsic value of options exercised during 2011, 2010 and 2009 was $23,076, $22,821 and $2,024, respectively. Cash received from the exercise of stock options for 2011, 2010 and 2009 was $9,652, $13,828 and $2,986, respectively. The tax benefit realized from tax deductions from exercises for 2011, 2010 and 2009 was $6,924, $7,798 and $284, respectively.

Nonvested (restricted) stock — We may grant nonvested (restricted) stock to our employees and directors. These shares may not be disposed of for a designated period of time (generally six months to five years) defined at the date of grant. For employee recipients, shares are forfeited on a pro-rata basis in the event employment is terminated as a consequence of the employee recipient’s early retirement, disability or death prior to the lapse of any restrictions. Restrictions lapse in the event of a recipient’s retirement at or after normal retirement age. Termination for any other reason prior to the lapse of any restrictions results in forfeiture of the shares. For non-employee directors, all restrictions lapse in the event of disability or death of the non-employee director. Termination of service as a director for any other reason within one year of date of grant results in a pro-rata forfeiture of shares.

As shares are issued, deferred stock-based compensation equivalent to the fair market value on the date of grant is charged to shareholders’ equity and subsequently amortized over the restriction period. Tax benefits arising from the lapse of restrictions on the stock are recognized when realized and credited to capital in excess of stated value.

The following table summarizes 2011 activity related to nonvested stock:

	Number of Shares			Weighted-Average Grant Date Fair Value Per Share
Nonvested at October 31, 2010		80		$	24.70
Granted		38		$	43.41
Vested		(36	)	$	21.11
Forfeited		(1	)	$	43.32
Nonvested at October 31, 2011		81		$	34.95

As of October 31, 2011, there was $1,614 of unrecognized compensation cost related to nonvested stock. The cost is expected to be amortized over a weighted average period of 1.7 years. The amount charged to expense related to nonvested stock was $1,278, $774 and $507 in 2011, 2010 and 2009, respectively.

Deferred directors compensation — Non-employee directors may defer all or part of their compensation until retirement. Compensation may be deferred as cash or as stock equivalent units. Deferred cash amounts are recorded as liabilities. Additional stock equivalent units are earned when common stock dividends are declared.

The following is a summary of the activity related to deferred director compensation during 2011:

	Number of Shares			Weighted-Average Grant Date Fair Value Per Share
Outstanding at October 31, 2010		267		$	16.54
Deferrals		3		$	48.82
Restricted stock units vested		18		$	16.55
Dividend equivalents		2		$	47.99
Distributions		(47	)	$	15.27
Outstanding at October 31, 2011		243		$	17.51

The amount charged to expense related to this plan was $265, $351 and $333 in 2011, 2010 and 2009, respectively.

Long-Term Incentive Plan — Under the Long-Term Incentive Plan, executive officers and selected other key employees receive common stock awards based solely on corporate performance measures over three-year performance periods. Awards vary based on the degree to which corporate performance exceeds predetermined threshold, target and maximum performance levels at the end of a performance period. No award will occur unless certain threshold performance objectives are exceeded.

The amount of compensation expense is based upon current performance projections for each three-year period and the percentage of the requisite service that has been rendered. The calculations are also based upon the grant date fair value determined using the closing market price of common stock at the grant date, reduced by the implied value of dividends not to be paid. This value was $42.02 per share for both the executive officer and the selected other key employees for 2011. The per-share values for 2010 were $26.10 and $29.52 for the executive officer group and $26.10 for the selected other key employees. The per-share value for 2009 was $13.23. These performance-based equity grants are recorded in shareholders’ equity. The cumulative amounts recorded in shareholders’ equity at October 31, 2011 and October 31, 2010 were $6,081 and $3,879, respectively. There was no cumulative amount recorded in shareholders’ equity at October 31, 2009. The amounts charged to expense for executive officers and selected other key employees in 2011 and 2010 were $4,067 and $3,879, respectively. There was $5,014 credited to expense for executive officers and selected other employees in 2009.

Shares reserved for future issuance — At October 31, 2011, there were 139,354 of common shares reserved for future issuance through the exercise of outstanding options or rights.

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Long-term debt (Details) (USD $) In Thousands, unless otherwise specified	Oct. 31, 2011	Oct. 31, 2010
Long-term debt
Long-term Debt	$ 319,123	$ 110,260
Less current maturities	5,664	14,260
Long-term maturities	313,459	96,000
Revolving credit agreement, due 2017 [Member]
Long-term debt
Long-term Debt	192,200	46,000
Senior notes, due 2005-2011 [Member]
Long-term debt
Long-term Debt	0	14,260
Private shelf facility, due 2012-2020 [Member]
Long-term debt
Long-term Debt	75,000	0
Senior note, due 2013 [Member]
Long-term debt
Long-term Debt	50,000	50,000
Development loans, due 2011-2026 [Member]
Long-term debt
Long-term Debt	$ 1,923	$ 0

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Stock-based compensation (Details 3) (USD $) In Thousands, except Per Share data, unless otherwise specified	12 Months Ended
	Oct. 31, 2011
Summarized activity related to nonvested shares
Number of Nonvested Shares, Beginning Balance	80
Number of Nonvested Shares, Granted	38
Number of Nonvested Shares, Vested	(36)
Number of Nonvested Shares, Forfeited	(1)
Number of Nonvested Shares, Ending Balance	81
Weighted-Average Grant Date Fair Value, Nonvested Shares, Beginning Balance	$ 24.70
Weighted-Average Grant Date Fair Value, Granted	$ 43.41
Weighted-Average Grant Date Fair Value, Vested	$ 21.11
Weighted-Average Grant Date Fair Value, Forfeited	$ 43.32
Weighted-Average Grant Date Fair Value, Nonvested Shares, Ending Balance	$ 34.95

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Consolidated Balance Sheets (Parenthetical) (USD $)	Oct. 31, 2011	Oct. 31, 2010
Shareholders' equity:
Preferred shares, par value
Preferred shares, authorized	10,000	10,000
Preferred shares, issued
Common shares, par value
Common shares, authorized	160,000	160,000
Common shares, issued	98,023	98,023

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Details of balance sheet

12 Months Ended

Oct. 31, 2011

Details of balance sheet [Abstract]

Details of balance sheet

Note 5 — Details of balance sheet

	2011			2010
Receivables:
Accounts	$	235,240		$	215,960
Notes		16,082			11,035
Other		6,299			20,148
		257,621			247,143
Allowance for doubtful accounts		(3,311	)		(3,353	)
	$	254,310		$	243,790
Inventories:
Finished goods	$	98,879		$	83,459
Work-in-process		13,971			15,614
Raw materials and finished parts		51,891			43,305
		164,741			142,378
Obsolescence and other reserves		(16,050	)		(16,802	)
LIFO reserve		(6,779	)		(7,855	)
	$	141,912		$	117,721
Property, plant and equipment:
Land	$	7,791		$	7,810
Land improvements		3,392			2,325
Buildings		121,870			115,111
Machinery and equipment		207,734			207,740
Enterprise management system		43,006			37,249
Construction-in-progress		5,623			8,544
Leased property under capitalized leases		16,796			14,879
		406,212			393,658
Accumulated depreciation and amortization		(275,329	)		(277,263	)
	$	130,883		$	116,395
Accrued liabilities:
Salaries and other compensation	$	44,068		$	40,334
Pension and retirement		1,030			1,675
Taxes other than income taxes		9,252			8,110
Other		46,944			46,014
	$	101,294		$	96,133

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Income taxes

12 Months Ended

Oct. 31, 2011

Income taxes [Abstract]

Income taxes

Note 4 — Income taxes

Income tax expense includes the following:

	2011			2010			2009
Current:
U.S. federal	$	53,983		$	9,811		$	14,370
State and local		2,029			29			858
Foreign		35,469			26,601			13,581
Total current		91,481			36,441			28,809
Deferred:
U.S. federal		1,851			34,097			7,281
State and local		23			(2,771	)		906
Foreign		(1,158	)		(4,496	)		(4,132	)
Total deferred		716			26,830			4,055
	$	92,197		$	63,271		$	32,864

Earnings before income taxes of domestic operations, which are calculated after intercompany profit eliminations, were $181,258, $130,149 and $21,864 in 2011, 2010 and 2009, respectively.

Foreign income tax expense includes a benefit related to the utilization of loss carryforwards of $682, $1,876 and $5 in 2011, 2010 and 2009, respectively.

Income tax expense for 2011 includes a benefit of $2,027 from a reduction in unrecognized tax benefits, primarily related to settlements with tax authorities. In December 2010, the U.S. Congress passed and the President signed the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010, which provided retroactive reinstatement of a research credit. As a result, income tax expense for 2011 includes a tax benefit of $1,580 related to research credit generated in 2010.

During 2010 we sold our UV Curing graphic arts and lamps product lines to Baldwin Technology Company, Inc., as discussed in Note 14, and we recognized $10,243 in tax benefits from the write-off of our tax basis in the product lines. Income tax expense for 2010 was negatively impacted by the enactment in March 2010 of the Patient Protection and Affordable Care Act and the subsequent enactment of the Health Care and Education Reconciliation Act of 2010, resulting in an additional tax charge of $5,249. The charge is due to a reduction in the value of our deferred tax asset as a result of a change to the tax treatment associated with Medicare Part D subsidies.

Expense in 2009 included a benefit of $2,752 related to remeasurement of unrecognized tax benefits and a benefit of $531 related to an adjustment to a prior tax year.

The principal items accounting for the difference in income taxes computed at the U.S. statutory rate and income tax shown in the Consolidated Statements of Income for 2011, 2010, and 2009 are as follows:

	2011			2010			2009
Tax at statutory rate of 35%	$	110,096		$	80,962		$	(44,517	)
Impact of goodwill charge		—			—			79,064
Domestic Production Deduction		(5,530	)		(1,737	)		(1,134	)
Foreign tax rate variances, net of foreign tax credits		(7,906	)		(10,550	)		1,279
State and local taxes, net of federal income tax benefit		1,310			(1,828	)		1,160
Tax expense related to tax law change		—			5,249			—
Tax benefit from sale of UV product lines		—			(10,243	)		—
Amounts related to prior years		(4,123	)		776			(3,283	)
Other — net		(1,650	)		642			295
Provision for income taxes	$	92,197		$	63,271		$	32,864

The Domestic Production Deduction, enacted by the American Jobs Creation Act of 2004, allows a deduction with respect to income from certain United States manufacturing activities.

Earnings before income taxes of international operations, which are calculated before intercompany profit elimination entries, were $133,303, $101,170 and $(149,055) in 2011, 2010 and 2009, respectively. Deferred income taxes are not provided on undistributed earnings of international subsidiaries that are intended to be permanently invested in those operations. These undistributed earnings aggregated approximately $391,679 and $340,354 at October 31, 2011 and 2010, respectively. Should these earnings be distributed, applicable foreign tax credits would substantially offset United States taxes due upon the distribution.

At October 31, 2011 and 2010, total unrecognized tax benefits were $2,576 and $4,078, respectively. The amounts that, if recognized, would impact the effective tax rate were $2,517 and $4,019 at October 31, 2011 and 2010, respectively. A reconciliation of the beginning and ending amount of unrecognized tax benefits for 2011, 2010 and 2009 is as follows:

	2011			2010			2009
Balance at beginning of year	$	4,078		$	3,969		$	7,685
Additions based on tax positions related to the current year		387			388			515
Additions for tax positions of prior years		138			359			—
Reductions for tax positions of prior years		—			(638	)		(3,267	)
Settlements		(2,027	)		—			(964	)
Lapse of statute of limitations		—			—			—
Balance at end of year	$	2,576		$	4,078		$	3,969

At October 31, 2011 and 2010, we had accrued interest expense related to unrecognized tax benefits of $327 and $460, respectively. We include interest accrued related to unrecognized tax benefits in interest expense. Penalties, if incurred, would be recognized as other income (expense).

We are subject to United States Federal income tax as well as income taxes in numerous state and foreign jurisdictions. We are subject to examination in the U.S. by the Internal Revenue Service (IRS) for the 2009 through 2011 tax years; tax years prior to 2009 have been examined by the IRS. Generally, major state and foreign jurisdiction tax years remain open to examination for tax years after 2006. Within the next twelve months, it is reasonably possible that certain foreign statute of limitations periods would expire, which could result in a decrease in our unrecognized tax benefits in a range of $0 to $500. The portion of the possible reduction that, if recognized, would impact the effective tax rate is $0 to $500.

Significant components of deferred tax assets and liabilities are as follows:

	2011			2010
Deferred tax assets:
Sales to international subsidiaries and related consolidation adjustments	$	10,315		$	8,919
Employee benefits		79,027			63,520
Other accruals not currently deductible for taxes		12,114			11,681
Tax credit and loss carryforwards		10,812			5,664
Inventory adjustments		4,085			3,585
Translation of foreign currency accounts		716			316
Other — net		—			268
Total deferred tax assets		117,069			93,953
Valuation allowance		(4,287	)		(5,729	)
Total deferred tax assets		112,782			88,224
Deferred tax liabilities:
Depreciation and amortization		94,487			64,198
Translation of foreign currency accounts		17			—
Other — net		—			195
Total deferred tax liabilities		94,504			64,393
Net deferred tax assets	$	18,278		$	23,831

At October 31, 2011, we had $645 of tax credit carryforwards that will expire in 2013 through 2017. We also had $19,117 Federal, $55,798 state and $575 foreign operating loss carryforwards, of which $74,915 will expire in 2012 through 2031, and $575 of which has an indefinite carryforward period. The net change in the valuation allowance was a decrease of $1,442 in 2011 and a decrease of $2,081 in 2010. The valuation allowance of $4,287 at October 31, 2011, relates primarily to tax credits and loss carryforwards that may expire before being realized.

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Operating segments and geographic area data

12 Months Ended

Oct. 31, 2011

Operating segments and geographic area data [Abstract]

Operating segments and geographic area data

Note 16 — Operating segments and geographic area data

We conduct business in three primary operating segments: Adhesive Dispensing Systems, Advanced Technology Systems, and Industrial Coating Systems. Effective November 1, 2010, the Industrial Coating Systems segment includes our industrial UV Curing product line that had previously been reported in the Advanced Technology Systems segment, where it was combined with our former UV Curing graphic arts and lamps product lines that were sold in 2010. This change more closely reflects the change in management of this product line and its related growth opportunities. Prior year results have been reclassified to reflect the segment change.

The composition of segments and measure of segment profitability is consistent with that used by our chief operating decision maker. The primary measure used by the chief operating decision maker for purposes of making decisions about allocating resources to the segments and assessing performance is operating profit, which equals sales less cost of sales and certain operating expenses. Items below the operating profit line of the Consolidated Statement of Income (interest and investment income, interest expense and other income/expense) are excluded from the measure of segment profitability reviewed by our chief operating decision maker and are not presented by operating segment. In addition, the measure of segment operating profit that is reported to and reviewed by the chief operating decision maker excludes severance costs associated with the cost reduction program that began in 2008 and expense in 2011 related to the withdrawal from a multiemployer employee pension fund in Japan. The accounting policies of the segments are generally the same as those described in Note 1, Significant Accounting Policies.

No single customer accounted for five percent or more of sales in 2011, 2010 or 2009.

The following table presents information about our reportable segments:

	Adhesive Dispensing Systems			Advanced Technology Systems			Industrial Coating Systems			Corporate			Total
Year ended October 31, 2011
Net external sales	$	611,911		$	438,634		$	182,614		$	—		$	1,233,159
Depreciation		7,087			7,869			2,837			2,965			20,758
Operating profit		210,350	(a)		114,903			26,977			(36,687	)(b)		315,543
Identifiable assets (c)		286,974			692,295			70,622			270,500			1,320,391
Expenditures for long-lived assets		4,477			4,842			2,428			8,492			20,239
Year ended October 31, 2010
Net external sales	$	525,290		$	369,449		$	146,812		$	—		$	1,041,551
Depreciation		8,014			7,641			2,851			4,119			22,625
Operating profit (loss)		166,255			84,247			14,588			(30,257	)(b)		234,833
Identifiable assets (c)		251,881			477,563			61,256			206,663	(d)		997,363
Expenditures for long-lived assets		1,857			2,792			548			9,120			14,317
Year ended October 31, 2009
Net external sales	$	460,746		$	242,247		$	116,172		$	—		$	819,165
Depreciation		9,087			7,268			3,326			6,629			26,310
Operating profit		127,589			(214,781	)(e)		(6,895	)(e)		(33,720	)(b)		(127,807	)
Identifiable assets (c)		226,904			448,196			53,176			168,686	(d)		896,962
Expenditures for long-lived assets		1,922			7,089			865			2,638			12,514

(a) Includes $1,811 of impairment charges related to write down of assets to fair value, and $1,589 of severance charges and other termination fees.

(b) Includes $3,120 of expense related to the withdrawal from a multiemployer employee pension fund in Japan in 2011 and severance charges of $2,029 and $16,396 in 2010 and 2009, respectively.

(c) Includes notes and accounts receivable net of customer advance payments and allowance for doubtful accounts, inventories net of reserves, property, plant and equipment net of accumulated depreciation and goodwill.

(d) Corporate assets are principally cash and cash equivalents, deferred income taxes, investments, capital leases, headquarter facilities, the major portion of our enterprise management system, and intangible assets.

(e) Includes goodwill and long-lived asset impairments of $239,427 in the Advanced Technology Systems segment and $3,616 in the Industrial Coating Systems segment.

We have significant sales and long-lived assets in the following geographic areas:

	2011		2010		2009
Net external sales
United States	$	312,328	$	273,652	$	234,038
Americas		102,077		78,058		60,632
Europe		390,319		336,119		294,951
Japan		111,003		93,318		81,678
Asia Pacific		317,432		260,404		147,866
Total net external sales	$	1,233,159	$	1,041,551	$	819,165
Long-lived assets
United States	$	90,994	$	80,974	$	79,675
Americas		2,933		1,865		1,703
Europe		16,312		13,401		15,329
Japan		3,496		3,587		3,257
Asia Pacific		17,148		16,568		18,327
Total long-lived assets	$	130,883	$	116,395	$	118,291

Sales in 2010 and 2009 include reclassification adjustments primarily into Asia Pacific from the United States based on more accurate end-user destination information for products sold by our Advanced Technology Systems segment to certain global customers.

A reconciliation of total segment operating income to total consolidated income before income taxes is as follows:

	2011			2010			2009
Total profit (loss) for reportable segments	$	315,543		$	234,833		$	(127,807	)
Interest expense		(5,069	)		(6,263	)		(7,771	)
Interest and investment income		569			819			492
Other-net		3,518			1,930			7,895
Income (loss) before income taxes	$	314,561		$	231,319		$	(127,191	)

A reconciliation of total assets for reportable segments to total consolidated assets is as follows:

	2011			2010			2009
Total assets for reportable segments	$	1,320,391		$	997,363		$	896,962
Customer advance payments		9,375			10,999			8,807
Eliminations		(25,316	)		(22,008	)		(15,095	)
Total consolidated assets	$	1,304,450		$	986,354		$	890,674

XML

Severance and restructuring costs

12 Months Ended

Oct. 31, 2011

Severance and restructuring costs [Abstract]

Severance and restructuring costs

Note 12 — Severance and restructuring costs

In 2011, we announced a restructuring of the Georgia operations of our Adhesive Dispensing Systems segment in order to optimize operations and better serve our customers. The restructuring involves the expansion of our facility in Duluth and construction of a new facility in Swainsboro, where operations from our existing Swainsboro facility, as well as facilities in Norcross and Dawsonville, will be transferred. Severance costs and other termination fees associated with this action will occur through the third quarter of 2012 and are estimated to be approximately $2,400. Payments are expected to begin in the first quarter of 2012. Of the total expense amount, $1,557 was recorded in 2011.

As a result of this restructuring initiative, the existing facilities in Swainsboro, Norcross and Dawsonville will be sold. We assessed the fair value of the three facilities involved and remeasured to fair value two of them using third-party property appraisals or market-corroborated inputs. The amount of Level 2 long-lived assets measured at fair value on a non-recurring basis was $4,150. Impairment losses of $1,322 on the two facilities were recorded in goodwill and long-lived asset impairments on the Consolidated Statement of Income.

In order to optimize Adhesive Dispensing Systems segment operations in Germany, a restructuring initiative was taken that will result in severance costs of approximately $200. Of that amount, $32 was recorded in 2011. In addition, we assessed the fair value of a facility and remeasured it to fair value using a third party appraisal. The amount of Level 2 long-lived assets measured at fair value on a non-recurring basis was $932. An impairment loss of $489 was recorded in goodwill and long-lived asset impairments on the Consolidated Statement of Income.

Cost reduction activities were taken in 2008 through 2010 primarily in response to economic conditions and with the objective of improving operating efficiencies. Total severance and related costs of these actions were $23,986 of which $5,561 occurred in 2008, $16,396 occurred in 2009, and $2,029 occurred in 2010. The severance costs were recorded in the Corporate segment. Substanially all of the $923 accrual balance at October 31, 2010 was utilized in 2011.

XML

Financial instruments (Details Textuals) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Oct. 31, 2011	Oct. 31, 2010
Financial instruments (Textuals) [Abstract]
Maturity of foreign currency forward contracts	90 days
Gains from changes in fair value of contracts	$ (11,277)	$ 7,970
Change in fair value of balance sheet positions denominated in foreign currencies	13,477	(6,749)
Hedge of net investment in foreign operations	$ (170)	$ (999)

XML

Long-term debt

12 Months Ended

Oct. 31, 2011

Long-term debt [Abstract]

Long-term debt

Note 8 — Long-term debt

A summary of long-term debt is as follows:

	2011		2010
Revolving credit agreement, due 2017	$	192,200	$	46,000
Senior notes, due 2005-2011		—		14,260
Private shelf facility, due 2012-2020		75,000		—
Senior notes, due 2013		50,000		50,000
Development loans, due 2011-2026		1,923		—
		319,123		110,260
Less current maturities		5,664		14,260
Long-term maturities	$	313,459	$	96,000

Revolving credit agreement — This $400,000 revolving credit agreement is with a group of banks which was scheduled to expire in 2012; however, we replaced this agreement with a new $500,000 unsecured, multi-currency credit agreement with a group of banks. The balance outstanding under the prior agreement was transferred to the new agreement. Borrowings under the prior agreement were classified as long-term, because a new revolving credit agreement was entered into on December 9, 2011, as discussed in Note 21. Payment of quarterly commitment fees is required. The weighted average interest rate for borrowings under this agreement was 0.54 percent at October 31, 2011.

Senior notes, due 2005-2011 — These fixed rate notes with a group of insurance companies had an original weighted-average life of 6.5 years at the time of issuance in 2001.

Private shelf facility — On June 30, 2011, we entered into a $150,000 three-year Private Shelf Note agreement with New York Life Investment Management LLC (NYLIM). Borrowings under the agreement may be up to 12 years, with an average life of up to 10 years, and are unsecured. The interest rate on each borrowing can be fixed or floating and is based upon the market rate at the borrowing date. At October 31, 2011, $75,000 was outstanding under this facility at a fixed rate of 2.21 percent per annum.

Senior note, due 2013 — This note is payable in one installment and has a fixed interest rate of 4.98 percent.

Development loans, due 2011-2026 — These fixed-rate loans with the State of Ohio and Cuyahoga County, Ohio were issued in 2011 in connection with the construction of our new corporate headquarters building and are payable in monthly installments over 15 years beginning in 2011. The interest rate on the State of Ohio loan is 3.00 percent, and the interest rate on the Cuyahoga County loan is 3.50 percent.

Annual maturities — The annual maturities of long-term debt for the five years subsequent to October 31, 2011, are as follows: $5,664 in 2012; $55,668 in 2013; $10,671 in 2014; and $10,675 in 2015 and $10,679 in 2016.

XML

Retirement, pension and other postretirement plans (Details 7) (USD $) In Thousands, unless otherwise specified	Oct. 31, 2011	Oct. 31, 2010	Oct. 31, 2009
Level 3 [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	$ 18,501	$ 17,699	$ 17,600
Pension plan, United States [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	184,701	175,864	113,356
Pension plan, United States [Member] | Cash [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	618	580
Pension plan, United States [Member] | Money market funds [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	1,845	19,224
Pension plan, United States [Member] | Basic materials [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	5,081	6,776
Pension plan, United States [Member] | Consumer goods [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	5,942	7,789
Pension plan, United States [Member] | Financial [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	6,989	9,768
Pension plan, United States [Member] | Healthcare [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	4,062	4,483
Pension plan, United States [Member] | Industrial goods [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	3,993	4,623
Pension plan, United States [Member] | Technology [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	4,767	4,339
Pension plan, United States [Member] | Utilities [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	1,578	1,839
Pension plan, United States [Member] | Mutual funds [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	7,353	87,339
Pension plan, United States [Member] | US Government Debt Securities [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	24,224	14,329
Pension plan, United States [Member] | Corporate Debt Securities [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	35,514	14,489
Pension plan, United States [Member] | Other Debt Securities [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	826	57
Pension plan, United States [Member] | Other Type Of Investments Insurance Contract [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	0	0
Pension plan, United States [Member] | Other Type Of Investments Pooled Investment Funds [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	81,062	0
Pension plan, United States [Member] | Other Type Of Investments Other [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	847	229
Pension plan, United States [Member] | Level 1 [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	45,520	151,057
Pension plan, United States [Member] | Level 1 [Member] | Cash [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	618	580
Pension plan, United States [Member] | Level 1 [Member] | Money market funds [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	1,845	19,224
Pension plan, United States [Member] | Level 1 [Member] | Basic materials [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	5,081	6,776
Pension plan, United States [Member] | Level 1 [Member] | Consumer goods [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	5,942	7,789
Pension plan, United States [Member] | Level 1 [Member] | Financial [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	6,989	9,768
Pension plan, United States [Member] | Level 1 [Member] | Healthcare [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	4,062	4,483
Pension plan, United States [Member] | Level 1 [Member] | Industrial goods [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	3,993	4,623
Pension plan, United States [Member] | Level 1 [Member] | Technology [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	4,767	4,339
Pension plan, United States [Member] | Level 1 [Member] | Utilities [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	1,578	1,839
Pension plan, United States [Member] | Level 1 [Member] | Mutual funds [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	7,353	87,339
Pension plan, United States [Member] | Level 1 [Member] | US Government Debt Securities [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	2,445	4,068
Pension plan, United States [Member] | Level 1 [Member] | Corporate Debt Securities [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	0	0
Pension plan, United States [Member] | Level 1 [Member] | Other Debt Securities [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	0	0
Pension plan, United States [Member] | Level 1 [Member] | Other Type Of Investments Insurance Contract [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	0	0
Pension plan, United States [Member] | Level 1 [Member] | Other Type Of Investments Pooled Investment Funds [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	0	0
Pension plan, United States [Member] | Level 1 [Member] | Other Type Of Investments Other [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	847	229
Pension plan, United States [Member] | Level 2 [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	139,181	24,807
Pension plan, United States [Member] | Level 2 [Member] | Cash [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	0	0
Pension plan, United States [Member] | Level 2 [Member] | Money market funds [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	0	0
Pension plan, United States [Member] | Level 2 [Member] | Basic materials [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	0	0
Pension plan, United States [Member] | Level 2 [Member] | Consumer goods [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	0	0
Pension plan, United States [Member] | Level 2 [Member] | Financial [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	0	0
Pension plan, United States [Member] | Level 2 [Member] | Healthcare [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	0	0
Pension plan, United States [Member] | Level 2 [Member] | Industrial goods [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	0	0
Pension plan, United States [Member] | Level 2 [Member] | Technology [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	0	0
Pension plan, United States [Member] | Level 2 [Member] | Utilities [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	0	0
Pension plan, United States [Member] | Level 2 [Member] | Mutual funds [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	0	0
Pension plan, United States [Member] | Level 2 [Member] | US Government Debt Securities [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	21,779	10,261
Pension plan, United States [Member] | Level 2 [Member] | Corporate Debt Securities [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	35,514	14,489
Pension plan, United States [Member] | Level 2 [Member] | Other Debt Securities [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	826	57
Pension plan, United States [Member] | Level 2 [Member] | Other Type Of Investments Insurance Contract [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	0	0
Pension plan, United States [Member] | Level 2 [Member] | Other Type Of Investments Pooled Investment Funds [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	81,062	0
Pension plan, United States [Member] | Level 2 [Member] | Other Type Of Investments Other [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	0	0
Pension plan, United States [Member] | Level 3 [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	0	0
Pension plan, United States [Member] | Level 3 [Member] | Cash [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	0	0
Pension plan, United States [Member] | Level 3 [Member] | Money market funds [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	0	0
Pension plan, United States [Member] | Level 3 [Member] | Basic materials [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	0	0
Pension plan, United States [Member] | Level 3 [Member] | Consumer goods [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	0	0
Pension plan, United States [Member] | Level 3 [Member] | Financial [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	0	0
Pension plan, United States [Member] | Level 3 [Member] | Healthcare [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	0	0
Pension plan, United States [Member] | Level 3 [Member] | Industrial goods [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	0	0
Pension plan, United States [Member] | Level 3 [Member] | Technology [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	0	0
Pension plan, United States [Member] | Level 3 [Member] | Utilities [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	0	0
Pension plan, United States [Member] | Level 3 [Member] | Mutual funds [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	0	0
Pension plan, United States [Member] | Level 3 [Member] | US Government Debt Securities [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	0	0
Pension plan, United States [Member] | Level 3 [Member] | Corporate Debt Securities [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	0	0
Pension plan, United States [Member] | Level 3 [Member] | Other Debt Securities [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	0	0
Pension plan, United States [Member] | Level 3 [Member] | Other Type Of Investments Insurance Contract [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	0	0
Pension plan, United States [Member] | Level 3 [Member] | Other Type Of Investments Pooled Investment Funds [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	0	0
Pension plan, United States [Member] | Level 3 [Member] | Other Type Of Investments Other [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	0	0
Pension plan International [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	32,167	29,799	28,833
Pension plan International [Member] | Cash [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	322	0
Pension plan International [Member] | Money market funds [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	0	309
Pension plan International [Member] | Basic materials [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	0	0
Pension plan International [Member] | Consumer goods [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	0	0
Pension plan International [Member] | Financial [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	0	0
Pension plan International [Member] | Healthcare [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	0	0
Pension plan International [Member] | Industrial goods [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	0	0
Pension plan International [Member] | Technology [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	0	0
Pension plan International [Member] | Utilities [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	0	0
Pension plan International [Member] | Mutual funds [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	0	0
Pension plan International [Member] | US Government Debt Securities [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	0	0
Pension plan International [Member] | Corporate Debt Securities [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	0	0
Pension plan International [Member] | Other Debt Securities [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	0	0
Pension plan International [Member] | Other Type Of Investments Insurance Contract [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	18,501	17,699
Pension plan International [Member] | Other Type Of Investments Pooled Investment Funds [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	13,344	11,791
Pension plan International [Member] | Other Type Of Investments Other [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	0	0
Pension plan International [Member] | Level 1 [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	322	309
Pension plan International [Member] | Level 1 [Member] | Cash [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	322	0
Pension plan International [Member] | Level 1 [Member] | Money market funds [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	0	309
Pension plan International [Member] | Level 1 [Member] | Basic materials [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	0	0
Pension plan International [Member] | Level 1 [Member] | Consumer goods [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	0	0
Pension plan International [Member] | Level 1 [Member] | Financial [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	0	0
Pension plan International [Member] | Level 1 [Member] | Healthcare [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	0	0
Pension plan International [Member] | Level 1 [Member] | Industrial goods [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	0	0
Pension plan International [Member] | Level 1 [Member] | Technology [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	0	0
Pension plan International [Member] | Level 1 [Member] | Utilities [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	0	0
Pension plan International [Member] | Level 1 [Member] | Mutual funds [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	0	0
Pension plan International [Member] | Level 1 [Member] | US Government Debt Securities [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	0	0
Pension plan International [Member] | Level 1 [Member] | Corporate Debt Securities [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	0	0
Pension plan International [Member] | Level 1 [Member] | Other Debt Securities [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	0	0
Pension plan International [Member] | Level 1 [Member] | Other Type Of Investments Insurance Contract [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	0	0
Pension plan International [Member] | Level 1 [Member] | Other Type Of Investments Pooled Investment Funds [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	0	0
Pension plan International [Member] | Level 1 [Member] | Other Type Of Investments Other [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	0	0
Pension plan International [Member] | Level 2 [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	13,344	11,791
Pension plan International [Member] | Level 2 [Member] | Cash [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	0	0
Pension plan International [Member] | Level 2 [Member] | Money market funds [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	0	0
Pension plan International [Member] | Level 2 [Member] | Basic materials [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	0	0
Pension plan International [Member] | Level 2 [Member] | Consumer goods [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	0	0
Pension plan International [Member] | Level 2 [Member] | Financial [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	0	0
Pension plan International [Member] | Level 2 [Member] | Healthcare [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	0	0
Pension plan International [Member] | Level 2 [Member] | Industrial goods [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	0	0
Pension plan International [Member] | Level 2 [Member] | Technology [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	0	0
Pension plan International [Member] | Level 2 [Member] | Utilities [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	0	0
Pension plan International [Member] | Level 2 [Member] | Mutual funds [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	0	0
Pension plan International [Member] | Level 2 [Member] | US Government Debt Securities [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	0	0
Pension plan International [Member] | Level 2 [Member] | Corporate Debt Securities [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	0	0
Pension plan International [Member] | Level 2 [Member] | Other Debt Securities [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	0	0
Pension plan International [Member] | Level 2 [Member] | Other Type Of Investments Insurance Contract [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	0	0
Pension plan International [Member] | Level 2 [Member] | Other Type Of Investments Pooled Investment Funds [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	13,344	11,791
Pension plan International [Member] | Level 2 [Member] | Other Type Of Investments Other [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	0	0
Pension plan International [Member] | Level 3 [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	18,501	17,699
Pension plan International [Member] | Level 3 [Member] | Cash [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	0	0
Pension plan International [Member] | Level 3 [Member] | Money market funds [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	0	0
Pension plan International [Member] | Level 3 [Member] | Basic materials [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	0	0
Pension plan International [Member] | Level 3 [Member] | Consumer goods [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	0	0
Pension plan International [Member] | Level 3 [Member] | Financial [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	0	0
Pension plan International [Member] | Level 3 [Member] | Healthcare [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	0	0
Pension plan International [Member] | Level 3 [Member] | Industrial goods [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	0	0
Pension plan International [Member] | Level 3 [Member] | Technology [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	0	0
Pension plan International [Member] | Level 3 [Member] | Utilities [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	0	0
Pension plan International [Member] | Level 3 [Member] | Mutual funds [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	0	0
Pension plan International [Member] | Level 3 [Member] | US Government Debt Securities [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	0	0
Pension plan International [Member] | Level 3 [Member] | Corporate Debt Securities [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	0	0
Pension plan International [Member] | Level 3 [Member] | Other Debt Securities [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	0	0
Pension plan International [Member] | Level 3 [Member] | Other Type Of Investments Insurance Contract [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	18,501	17,699
Pension plan International [Member] | Level 3 [Member] | Other Type Of Investments Pooled Investment Funds [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	0	0
Pension plan International [Member] | Level 3 [Member] | Other Type Of Investments Other [Member]
Fair values of Pension Plan Assets
Fair values of Pension Plan Assets	$ 0	$ 0

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Quarterly financial data (unaudited) (Details) (USD $) In Thousands, except Per Share data, unless otherwise specified	3 Months Ended								12 Months Ended
	Oct. 31, 2011	Jul. 31, 2011	Apr. 30, 2011	Jan. 31, 2011	Oct. 31, 2010	Jul. 31, 2010	Apr. 30, 2010	Jan. 31, 2010	Oct. 31, 2011	Oct. 31, 2010	Oct. 31, 2009
Quarterly financial data
Sales	$ 331,018	$ 312,255	$ 318,924	$ 270,962	$ 290,182	$ 279,121	$ 251,659	$ 220,589	$ 1,233,159	$ 1,041,551	$ 819,165
Gross margin	196,459	188,050	197,752	166,171	170,271	165,801	153,867	131,675
Net income	$ 54,675	$ 56,550	$ 65,242	$ 45,897	$ 53,556	$ 55,329	$ 32,431	$ 26,732	$ 222,364	$ 168,048	$ (160,055)
Earnings per share:
Basic	$ 0.82	$ 0.83	$ 0.96	$ 0.67	$ 0.79	$ 0.81	$ 0.48	$ 0.40	$ 3.29	$ 2.49	$ (2.38)
Diluted	$ 0.81	$ 0.82	$ 0.95	$ 0.67	$ 0.78	$ 0.80	$ 0.47	$ 0.39	$ 3.25	$ 2.46	$ (2.38)

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Leases

12 Months Ended

Oct. 31, 2011

Leases [Abstract]

Leases

Note 6 — Leases

We have lease commitments expiring at various dates, principally for manufacturing, warehouse and office space, automobiles and office equipment. Many leases contain renewal options and some contain purchase options and residual guarantees.

Rent expense for all operating leases was approximately $12,292, $12,266 and $11,801 in 2011, 2010 and 2009, respectively.

Amortization of assets recorded under capital leases is recorded in depreciation expense.

Assets held under capitalized leases and included in property, plant and equipment are as follows:

	2011			2010
Transportation equipment	$	14,215		$	13,870
Other		2,581			1,009
Total capitalized leases		16,796			14,879
Accumulated amortization		(6,969	)		(7,799	)
Net capitalized leases	$	9,827		$	7,080

At October 31, 2011, future minimum lease payments under noncancelable capitalized and operating leases are as follows:

	Capitalized Leases		Operating Leases
Year:
2012	$	5,481	$	10,955
2013		4,036		6,244
2014		2,211		4,429
2015		637		2,863
2016		49		2,216
Later years		—		9,095
Total minimum lease payments		12,414	$	35,802
Less amount representing executory costs		1,812
Net minimum lease payments		10,602
Less amount representing interest		1,269
Present value of net minimum lease payments		9,333
Less current portion		4,131
Long-term obligations at October 31, 2011	$	5,202

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Notes payable

12 Months Ended

Oct. 31, 2011

Notes payable [Abstract]

Notes payable

Note 7 — Notes payable

Bank lines of credit and notes payable are summarized as follows:

	2011			2010
Maximum borrowings under bank lines of credit:
Domestic banks	$	—		$	—
Foreign banks		43,305			39,710
Total	$	43,305		$	39,710
Outstanding notes payable:
Domestic bank debt	$	—		$	—
Foreign bank debt		33			2,160
Total	$	33		$	2,160
Weighted-average interest rate on notes payable		1.5	%		4.1	%
Unused bank lines of credit	$	43,272		$	37,550

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Financial instruments

12 Months Ended

Oct. 31, 2011

Financial instruments [Abstract]

Financial instruments

Note 9 — Financial instruments

We operate internationally and enter into intercompany transactions denominated in foreign currencies. Consequently, we are subject to market risk arising from exchange rate movements between the dates foreign currency transactions occur and the dates they are settled. We regularly use foreign currency forward contracts to reduce our risks related to most of these transactions. These contracts usually have maturities of 90 days or less and generally require us to exchange foreign currencies for U.S. dollars at maturity, at rates stated in the contracts. These contracts are not designated as hedging instruments under U.S. GAAP. Accordingly, the changes in the fair value of the hedges of balance sheet positions are recognized in each accounting period in “other-net” on the Consolidated Statement of Income together with the transaction gain or loss from the hedged balance sheet position. In 2011, we recognized net losses of $11,277 on foreign exchange contracts and net gains of $13,477 from the change in fair value of balance sheet positions. In 2010, we recognized net gains of $7,970 on foreign exchange contracts and net losses of $6,749 from the change in fair value of balance sheet positions. We do not use financial instruments for trading or speculative purposes.

The following table summarizes, by currency, forward exchange contracts outstanding at October 31, 2011 and 2010:

	Sell				Buy
	Notional Amounts		Fair Market Value		Notional Amounts		Fair Market Value
October 31, 2011 contract amounts:
Euro	$	10,920	$	10,967	$	88,209	$	87,736
Pound sterling		29,381		29,465		56,028		56,515
Japanese yen		16,723		16,416		15,788		15,566
Others		13,827		13,891		33,001		33,473
Total	$	70,851	$	70,739	$	193,026	$	193,290
October 31, 2010 contract amounts:
Euro	$	17,145	$	17,601	$	171,870	$	181,430
Pound sterling		—		—		25,832		26,576
Japanese yen		12,947		13,260		18,678		19,490
Others		6,357		6,545		28,361		29,854
Total	$	36,449	$	37,406	$	244,741	$	257,350

We also use intercompany foreign currency transactions of a long-term investment nature to hedge the value of investment in wholly-owned subsidiaries. For hedges of the net investment in foreign operations, realized and unrealized gains and losses are shown in the cumulative translation adjustment account included in total comprehensive income. For 2011 and 2010, net losses of $170 and $999, respectively, were included in the cumulative translation adjustment account related to foreign denominated fixed-rate debt designated as a hedge of net investment in foreign operations.

We are exposed to credit-related losses in the event of nonperformance by counterparties to financial instruments. These financial instruments include cash deposits and forward exchange contracts. We periodically monitor the credit ratings of these counterparties in order to minimize our exposure. Our customers represent a wide variety of industries and geographic regions. As of October 31, 2011, there were no significant concentrations of credit risk.

The carrying amounts and fair values of financial instruments, other than receivables and accounts payable, are shown in the table below. The carrying values of receivables and accounts payable approximate fair value due to the short-term nature of these instruments.

	2011				2010
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Cash and cash equivalents	$	37,408	$	37,408	$	42,329	$	42,329
Marketable securities		—		—		7,840		7,840
Notes payable		33		33		2,160		2,160
Long-term debt		319,123		313,850		110,260		112,495
Forward exchange contracts (net)		376		376		11,653		11,653

We used the following methods and assumptions in estimating the fair value of financial instruments:

• Cash, cash equivalents and notes payable are valued at their carrying amounts due to the relatively short period to maturity of the instruments.

• Marketable securities are valued at quoted market prices, which are considered to be Level 1 inputs under the fair value hierarchy.

• Long-term debt is valued by discounting future cash flows at currently available rates for borrowing arrangements with similar terms and conditions, which are considered to be Level 2 inputs under the fair value hierarchy.

• Foreign exchange contracts are estimated using quoted exchange rates, which are considered to be Level 2 inputs under the fair value hierarchy.

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Retirement, pension and other postretirement plans (Details 11) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Oct. 31, 2011	Oct. 31, 2010
Postretirement Benefit Plans United States [Member]
Summary of changes in accumulated other comprehensive (gain) loss
Balance at beginning of year	$ 21,423	$ 21,291
Net (gain) loss arising during the year	14,410	1,326
Prior service cost (credit) arising during the year		(1,171)
Net gain (loss) recognized during the year	(1,606)	(1,170)
Prior service credit (cost) recognized during the year	1,147	1,147
Balance at end of year	35,374	21,423
Postretirement Benefit Plans International [Member]
Summary of changes in accumulated other comprehensive (gain) loss
Balance at beginning of year	(203)	(146)
Net (gain) loss arising during the year	(62)	(53)
Net gain (loss) recognized during the year	8	5
Exchange rate effect during the year	(3)	(9)
Balance at end of year	$ (260)	$ (203)

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Capital shares (Details) (USD $) In Thousands, except Per Share data, unless otherwise specified	12 Months Ended
	Oct. 31, 2011	Oct. 31, 2010	Oct. 31, 2009
Common shares repurchased
Number of shares	3,024	697	394
Total amount	$ 134,163	$ 22,047	$ 6,826
Average per share	$ 44.37	$ 31.63	$ 17.31

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Retirement, pension and other postretirement plans (Details 13)	12 Months Ended
	Oct. 31, 2011	Oct. 31, 2010	Oct. 31, 2009
Postretirement Benefit Plans United States [Member]
Assumptions used to determine benefit obligations at October 31:
Discount rate	4.50%	5.25%	5.50%
Health care cost trend rate	9.36%	9.00%	8.25%
Rate to which health care cost trend rate is assumed to decline (ultimate trend rate)	5.00%	5.00%	4.50%
Year the rate reaches the ultimate trend rate	2016	2020	2015
Assumptions used to determine net benefit costs for the years ended October 31:
Discount rate	5.25%	5.50%	8.00%
Postretirement Benefit Plans International [Member]
Assumptions used to determine benefit obligations at October 31:
Discount rate	5.85%	5.75%	6.75%
Health care cost trend rate	7.00%	6.80%	7.50%
Rate to which health care cost trend rate is assumed to decline (ultimate trend rate)	3.50%	4.80%	4.80%
Year the rate reaches the ultimate trend rate	2031	2013	2013
Assumptions used to determine net benefit costs for the years ended October 31:
Discount rate	5.75%	6.75%	7.70%

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Operating segments and geographic area data (Details 3) (USD $) In Thousands, unless otherwise specified	Oct. 31, 2011	Oct. 31, 2010	Oct. 31, 2009
Total consolidated assets
Total assets for reportable segments	$ 1,320,391	$ 997,363	$ 896,962
Customer advance payments	9,375	10,999	8,807
Eliminations	(25,316)	(22,008)	(15,095)
Total Assets	$ 1,304,450	$ 986,354	$ 890,674

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Retirement, pension and other postretirement plans (Details 10) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Oct. 31, 2011	Oct. 31, 2010	Oct. 31, 2009
Postretirement Benefit Plans United States [Member]
Change in benefit obligation:
Benefit obligation at beginning of year	$ 55,599	$ 52,858
Service cost	1,122	837	589
Interest cost	2,932	2,504	2,926
Participant contributions	1,307	1,143
Plan amendment		(1,171)
Actuarial (gain) loss	14,409	1,326
Benefits paid	(1,977)	(1,898)
Benefit obligation at end of year	73,392	55,599	52,858
Change in plan assets:
Balance at beginning of year	0	0
Company contributions	670	755
Participant contributions	1,307	1,143
Benefits paid	(1,977)	(1,898)
Balance at end of year	0	0	0
Funded status at end of year	(73,392)	(55,599)
Amounts recognized in financial statements:
Accrued benefit liability	(2,123)	(2,339)
Long-term postretirement obligations	(71,269)	(53,260)
Total amount recognized in financial statements	(73,392)	(55,599)
Amounts recognized in accumulated other comprehensive (gain) loss:
Net actuarial (gain) loss	37,690	24,887
Prior service cost (credit)	(2,316)	(3,464)
Accumulated other comprehensive (gain) loss	35,374	21,423	21,291
Amounts expected to be recognized during next fiscal year:
Amortization of net actuarial (gain) loss	2,681	1,498
Amortization of prior service cost (credit)	(584)	(1,147)
Total	2,097	351
Postretirement Benefit Plans International [Member]
Change in benefit obligation:
Benefit obligation at beginning of year	659	605
Service cost	31	29	23
Interest cost	41	45	35
Foreign currency exchange rate change	13	37
Actuarial (gain) loss	(62)	(53)
Benefits paid	(4)	(4)
Benefit obligation at end of year	678	659	605
Change in plan assets:
Balance at beginning of year	0	0
Company contributions	4	4
Benefits paid	(4)	(4)
Balance at end of year	0	0	0
Funded status at end of year	(678)	(659)
Amounts recognized in financial statements:
Accrued benefit liability	(4)	(4)
Long-term postretirement obligations	(674)	(655)
Total amount recognized in financial statements	(678)	(659)
Amounts recognized in accumulated other comprehensive (gain) loss:
Net actuarial (gain) loss	(260)	(203)
Prior service cost (credit)	0	0
Accumulated other comprehensive (gain) loss	(260)	(203)	(146)
Amounts expected to be recognized during next fiscal year:
Amortization of net actuarial (gain) loss	(14)	(5)
Total	$ (14)	$ (5)

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Stock-based compensation (Details Textuals) (USD $) In Thousands, except Share data, unless otherwise specified	12 Months Ended
	Oct. 31, 2011 Year	Oct. 31, 2010	Oct. 31, 2009
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Weighted Average Grant Date Fair Value	$ 16.80	$ 11.08	$ 5.31
Stock-based Compensation (Textuals) [Abstract]
Percentage of common shares available for grant from Outstanding common shares	2.50%
No of shares available for grant	1,640,000
Compensation expense recognized	$ 2,906	$ 2,231	$ 3,026
Unrecognized compensation cost from nonvested stock options	6,859
Weighted average period expected to amortized	2
Weighted-average expected volatility used	0.443%	0.436%
Weighted-average dividend yield used		1.39%
Total intrinsic value of options exercised	23,076	22,821	2,024
Cash received from exercise of stock options	9,652	13,828	2,986
Tax benefit realized from tax deductions from exercises of stock options	6,924	7,798	284
Designated period of time non vested common shares cannot be disposed of	generally six months to five years
Unrecognized compensation cost related to nonvested common shares	1,614
Weighted average period expected to amortized, non vested shares	1.7
Expense related to non vested common shares	1,278	774	507
Expense related to director deferred compensation	265	351	333
Periods of performance considered for calculating compensation expense	Over three years
Compensation expense charged	4,067	3,879	(5,014)
Cumulative amount recorded in shareholders' equity	$ 6,081	$ 3,879	$ 0
Beginning period of option exercised	1 year
Option Expiring period	10 years
Share Based Payment Award Vesting Rights	25 percent per year for executive officers and 20 percent per year for other employees
Number of common shares reserved for future issuance	139,354
Executive Officer and Selected Other Key Employees [Member]
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Weighted Average Grant Date Fair Value	$ 42.02	$ 26.10	$ 13.23
Executive Officer [Member]
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Weighted Average Grant Date Fair Value	$ 42.02	$ 29.52	$ 13.23
Other Employees [Member]
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Weighted Average Grant Date Fair Value	$ 42.02	$ 26.10	$ 13.23

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Details of balance sheet (Tables)

12 Months Ended

Oct. 31, 2011

Details of balance sheet (Tables) [Abstract]

Details of balance sheet

	2011			2010
Receivables:
Accounts	$	235,240		$	215,960
Notes		16,082			11,035
Other		6,299			20,148
		257,621			247,143
Allowance for doubtful accounts		(3,311	)		(3,353	)
	$	254,310		$	243,790
Inventories:
Finished goods	$	98,879		$	83,459
Work-in-process		13,971			15,614
Raw materials and finished parts		51,891			43,305
		164,741			142,378
Obsolescence and other reserves		(16,050	)		(16,802	)
LIFO reserve		(6,779	)		(7,855	)
	$	141,912		$	117,721
Property, plant and equipment:
Land	$	7,791		$	7,810
Land improvements		3,392			2,325
Buildings		121,870			115,111
Machinery and equipment		207,734			207,740
Enterprise management system		43,006			37,249
Construction-in-progress		5,623			8,544
Leased property under capitalized leases		16,796			14,879
		406,212			393,658
Accumulated depreciation and amortization		(275,329	)		(277,263	)
	$	130,883		$	116,395
Accrued liabilities:
Salaries and other compensation	$	44,068		$	40,334
Pension and retirement		1,030			1,675
Taxes other than income taxes		9,252			8,110
Other		46,944			46,014
	$	101,294		$	96,133

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Significant accounting policies (Details Textuals) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Oct. 31, 2011	Oct. 31, 2010	Oct. 31, 2009
Significant Accounting Policies (Textuals) [Abstract]
Advertising costs	$ 9,008	$ 8,267	$ 6,512
Research and development costs incurred	26,997	23,835	25,528
Number of shares excluded from the calculation of diluted earnings per share	71	17
Maturity period of highly liquid instruments	90 days or less
Maturity period of marketable securities	Greater than 90 days
Percentage of LIFO Method valuation of inventory	26.00%	25.00%
Consolidated inventories under FIFO method	6,779	7,855
Increased cost of goods sold under LIFO liquidation			85
Standard product warranty period	1 year
Interest charges capitalized [Member]
Property Plant And Equipment [Line Items]
Interest charges capitalized	$ 0	$ 0	$ 0

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Divestiture

12 Months Ended

Oct. 31, 2011

Divestiture [Abstract]

Divestiture

Note 14 — Divestiture

On June 30, 2010, we sold our UV Curing graphic arts and lamps product lines to Baldwin Technology Company, Inc. These product lines were reported in the Advanced Technology Systems segment. This divestiture did not qualify for discontinued operations treatment, because it was not a component of an entity, as its operations and cash flows were not clearly distinguished from the rest of the entity. During 2010, we recognized a pretax loss on disposition of $357, which is reflected in selling and administrative expenses in the Consolidated Statement of Income. We recognized a pre-tax impairment charge of $14,101 in 2009, including $12,129 of goodwill impairment, to write down the carrying amount of the assets held for sale to the estimated fair value less costs to sell. The tax benefit related to the write-off of our tax basis in the investment in these product lines is discussed in Note 4.

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Quarterly financial data (unaudited)

12 Months Ended

Oct. 31, 2011

Quarterly financial data (unaudited) [Abstract]

Quarterly financial data (unaudited)

Note 19 — Quarterly financial data (unaudited)

	First		Second		Third		Fourth
2011:
Sales	$	270,962	$	318,924	$	312,255	$	331,018
Gross margin		166,171		197,752		188,050		196,459
Net income		45,897		65,242		56,550		54,675
Earnings per share:
Basic		0.67		0.96		0.83		0.82
Diluted		0.67		0.95		0.82		0.81
2010:
Sales	$	220,589	$	251,659	$	279,121	$	290,182
Gross margin		131,675		153,867		165,801		170,271
Net income		26,732		32,431		55,329		53,556
Earnings per share:
Basic		0.40		0.48		0.81		0.79
Diluted		0.39		0.47		0.80		0.78

The sum of the per-share amounts for the four quarters of 2011 and 2010 do not equal the annual per-share amounts due to differences in the average number of shares outstanding during the respective periods.

During the first quarter of 2011, net income tax benefits of $1,242 were recorded as a result of the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 that was passed by the U.S. Congress and signed by the President in December 2010. During the third quarter of 2011, a favorable adjustment to unrecognized tax benefits primarily related to settlements with tax authorities reduced income taxes by $2,027. The third quarter also included expense of $3,136 related to a fee paid to withdraw from a multiemployer employee pension fund in Japan.

During the first quarter of 2010, net income tax benefits of $3,500 were recorded as a result of the consolidation of certain operations and legal entities. During the second quarter of 2010, an additional tax charge of $5,255 was recorded resulting from the enactment of the Patient Protection and Affordable Care Act and the subsequent enactment of the Health Care and Education Reconciliation Act of 2010. The charge was due to a reduction in the value of our deferred tax asset as a result of a change to the tax treatment associated with Medicare Part D subsidies. During the third quarter of 2010, a tax benefit of $10,700 was recognized as a result of the write-off of the tax basis of the UV graphic arts business sold on June 30, 2010.

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Acquisitions (Details 1) (Value Plastics [Member], USD $) In Thousands, except Per Share data, unless otherwise specified	12 Months Ended
	Oct. 31, 2011	Oct. 31, 2010
Value Plastics [Member]
Business acquisition pro forma of financial information
Sales	$ 1,259,127	$ 1,067,729
Net income	$ 224,934	$ 166,921
Basic earnings per share	$ 3.33	$ 2.47
Diluted earnings per share	$ 3.29	$ 2.44

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Significant accounting policies (Details 2) (USD $) In Thousands, unless otherwise specified	Oct. 31, 2011	Oct. 31, 2010
Accumulated other comprehensive loss
Translation adjustments	$ 37,040	$ 36,478
Pension and postretirement benefit plan adjustments	(117,052)	(102,784)
Accumulated other comprehensive loss	$ (80,012)	$ (66,306)

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Goodwill and intangible assets (Details 1) (USD $) In Thousands, unless otherwise specified	Oct. 31, 2011	Oct. 31, 2010
Summary of intangible assets subject to amortization
Carrying Amount	$ 150,181	$ 63,157
Accumulated Amortization	29,482	23,329
Net Book Value	120,699	39,828
Patent/technology costs [Member]
Summary of intangible assets subject to amortization
Carrying Amount	43,235	23,429
Accumulated Amortization	11,571	9,084
Net Book Value	31,664	14,345
Customer relationships [Member]
Summary of intangible assets subject to amortization
Carrying Amount	78,324	30,630
Accumulated Amortization	11,843	8,273
Net Book Value	66,481	22,357
Noncompete agreements [Member]
Summary of intangible assets subject to amortization
Carrying Amount	5,042	5,982
Accumulated Amortization	3,727	4,857
Net Book Value	1,315	1,125
Trade names [Member]
Summary of intangible assets subject to amortization
Carrying Amount	22,143	1,684
Accumulated Amortization	1,530	479
Net Book Value	20,613	1,205
Other [Member]
Summary of intangible assets subject to amortization
Carrying Amount	1,437	1,432
Accumulated Amortization	811	636
Net Book Value	$ 626	$ 796

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Acquisitions (Tables)

12 Months Ended

Oct. 31, 2011

Acquisitions (Tables) [Abstract]

Allocation of purchase price

Fair values:
Assets acquired	$	26,647
Liabilities assumed		(18,930	)
Intangible assets subject to amortization		74,720
Goodwill		179,050
		261,487
Less cash acquired		(3,108	)
Purchase price	$	258,379

Business acquisition pro forma of financial information

Years ended October 31	2011		2010
Sales	$	1,259,127	$	1,067,729
Net income	$	224,934	$	166,921
Basic earnings per share	$	3.33	$	2.47
Diluted earnings per share	$	3.29	$	2.44

XML

Goodwill and intangible assets (Details Textuals) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Oct. 31, 2011	Oct. 31, 2010	Oct. 31, 2009
Goodwill [Line Items]
Impairment charge related to a reduction in the carrying value of goodwill			$ 232,789
Acquisitions/Adjustment	201,000
Goodwill accumulated impairment loss	232,789	232,789
Indefinite-lived Intangible Assets by Segment [Line Items]
Impairment charges of Goodwill		0	8,282
Goodwill and intangible assets (Textuals) [Abstract]
Intangible assets, amortization expense	8,018	6,263
DAGE Trade Name [Member]
Indefinite-lived Intangible Assets by Segment [Line Items]
Impairment charges of Goodwill			5,365
Picodostec [Member]
Indefinite-lived Intangible Assets by Segment [Line Items]
Impairment charges of Goodwill			157
YESTech [Member]
Indefinite-lived Intangible Assets by Segment [Line Items]
Impairment charges of Goodwill			350
Tah Industries [Member]
Indefinite-lived Intangible Assets by Segment [Line Items]
Impairment charges of Goodwill			2,410
Trade mark and trade name [Member]
Indefinite-lived Intangible Assets by Major Class [Line Items]
Intangible assets not subject to amortization		3,099
DAGE Trade Name [Member]
Finite-Lived Intangible Assets [Line Items]
Finite lived intangible asset, remaining life (in years)	20
Picodostec [Member]
Goodwill [Line Items]
Impairment charge related to a reduction in the carrying value of goodwill			7,530
Goodwill accumulated impairment loss	7,530	7,530
YESTech [Member]
Goodwill [Line Items]
Impairment charge related to a reduction in the carrying value of goodwill			26,149
Goodwill accumulated impairment loss	26,149	26,149
UV Curing [Member]
Goodwill [Line Items]
Impairment charge related to a reduction in the carrying value of goodwill			12,129
Goodwill accumulated impairment loss	12,129	12,129
March Plasma Systems [Member]
Goodwill [Line Items]
Impairment charge related to a reduction in the carrying value of goodwill			16,449
Goodwill accumulated impairment loss	16,449	16,449
DAGE Trade Name [Member]
Goodwill [Line Items]
Impairment charge related to a reduction in the carrying value of goodwill			166,916
Goodwill accumulated impairment loss	166,916	166,916
Micromedics Inc [Member]
Goodwill [Line Items]
Acquisitions/Adjustment	13,312
Verbruggen [Member]
Goodwill [Line Items]
Acquisitions/Adjustment	8,461
Value Plastics [Member]
Goodwill [Line Items]
Acquisitions/Adjustment	179,050
Advanced Technology Systems [Member]
Goodwill [Line Items]
Acquisitions/Adjustment	192,362
Industrial Coating Systems [Member]
Goodwill [Line Items]
Impairment charge related to a reduction in the carrying value of goodwill			3,616
Acquisitions/Adjustment	0
Goodwill accumulated impairment loss	$ 3,616	$ 3,616

XML

Consolidated Statements of Shareholders' Equity (USD $) In Thousands, unless otherwise specified	Total	Common shares	Capital in excess of stated value	Retained earnings	Accumulated other comprehensive income (loss)	Common shares in treasury, at cost
Balance at Oct. 31, 2008			$ 244,096	$ 840,888	$ (40,795)	$ (482,330)
Balances, shares at Oct. 31, 2008		30,607
Shares issued under company stock and employee benefit plans			(2,073)			5,131
Shares issued under company stock and employee benefit plans, shares		(353)
Purchase of treasury shares	(6,826)					(7,188)
Purchase of treasury shares, shares	394	413
Tax benefit from stock option and restricted stock transactions			285
Stock-based compensation			(814)
Comprehensive income
Net income (loss)	(160,055)			(160,055)
Translation adjustments	40,240				40,240
Remeasurement of supplemental pension liability, net of tax of $1,648 in 2010 and $2,074 in 2009	(3,457)				(3,457)
Settlement loss recognized, net of tax of $(3,085) in 2010 and $(728) in 2009	1,188				1,188
Net prior service cost (credit) occurring during the year, net of tax of $(315) in 2011, $3 in 2010 and $(421) in 2009	726				726
Net actuarial loss occurring during the year, net of tax of $9,002 in 2011, $4,756 in 2010 and $30,339 in 2009	(53,372)				(53,372)
Total comprehensive income (loss)	(174,730)
Dividends paid ($.44 per share in 2011, $.39 per share in 2010, and $.36875 per share in 2009)				(24,747)
Balance at Oct. 31, 2009	369,976	12,253	241,494	656,086	(55,470)	(484,387)
Balances, shares at Oct. 31, 2009		30,667
Shares issued under company stock and employee benefit plans			(1,330)			20,309
Shares issued under company stock and employee benefit plans, shares		(1,448)
Purchase of treasury shares	(22,047)					(30,087)
Purchase of treasury shares, shares	697	933
Tax benefit from stock option and restricted stock transactions			7,798
Stock-based compensation			7,633
Comprehensive income
Net income (loss)	168,048			168,048
Translation adjustments	(4,361)				(4,361)
Remeasurement of supplemental pension liability, net of tax of $1,648 in 2010 and $2,074 in 2009	(2,746)				(2,746)
Settlement loss recognized, net of tax of $(3,085) in 2010 and $(728) in 2009	5,126				5,126
Net prior service cost (credit) occurring during the year, net of tax of $(315) in 2011, $3 in 2010 and $(421) in 2009	18				18
Net actuarial loss occurring during the year, net of tax of $9,002 in 2011, $4,756 in 2010 and $30,339 in 2009	(8,873)				(8,873)
Total comprehensive income (loss)	157,212
Dividends paid ($.44 per share in 2011, $.39 per share in 2010, and $.36875 per share in 2009)				(26,439)
Balance at Oct. 31, 2010	505,072	12,253	255,595	797,695	(66,306)	(494,165)
Balances, shares at Oct. 31, 2010		30,152
Shares issued under company stock and employee benefit plans			1,564			13,315
Shares issued under company stock and employee benefit plans, shares		(936)
Purchase of treasury shares	(134,163)					(143,217)
Purchase of treasury shares, shares	3,024	3,206
Tax benefit from stock option and restricted stock transactions			6,924
Stock-based compensation			8,845
Comprehensive income
Net income (loss)	222,364			222,364
Translation adjustments	562				562
Net prior service cost (credit) occurring during the year, net of tax of $(315) in 2011, $3 in 2010 and $(421) in 2009	414				414
Net actuarial loss occurring during the year, net of tax of $9,002 in 2011, $4,756 in 2010 and $30,339 in 2009	(14,682)				(14,682)
Total comprehensive income (loss)	208,658
Dividends paid ($.44 per share in 2011, $.39 per share in 2010, and $.36875 per share in 2009)				(29,838)
Balance at Oct. 31, 2011	$ 571,323	$ 12,253	$ 272,928	$ 990,221	$ (80,012)	$ (624,067)
Balances, shares at Oct. 31, 2011		32,422

XML

Stock-based compensation (Details 1) (USD $) In Thousands, except Per Share data, unless otherwise specified	12 Months Ended
	Oct. 31, 2011 Year
Price Range 11 To 20 [Member]
Summarized information on currently outstanding options
Number outstanding	843
Weighted-average remaining contractual life, in years	4.7
Weighted-average exercise price	$ 15.69
Number exercisable	596
Weighted-average exercise price	$ 16.24
Price Range 21 To 28 [Member]
Summarized information on currently outstanding options
Number outstanding	655
Weighted-average remaining contractual life, in years	6.5
Weighted-average exercise price	$ 26.22
Number exercisable	331
Weighted-average exercise price	$ 25.62
Price Range 29 To 44 [Member]
Summarized information on currently outstanding options
Number outstanding	353
Weighted-average remaining contractual life, in years	8.9
Weighted-average exercise price	$ 40.85
Number exercisable	17
Weighted-average exercise price	$ 30.70

XML

Retirement, pension and other postretirement plans

12 Months Ended

Oct. 31, 2011

Retirement, pension and other postretirement plans [Abstract]

Retirement, pension and other postretirement plans

Note 3 — Retirement, pension and other postretirement plans

Retirement plans — We have funded contributory retirement plans covering certain employees. Our contributions are primarily determined by the terms of the plans, subject to the limitation that they shall not exceed the amounts deductible for income tax purposes. We also sponsor unfunded contributory supplemental retirement plans for certain employees. Generally, benefits under these plans vest gradually over a period of approximately three years from date of employment, and are based on the employee’s contribution. The expense applicable to retirement plans for 2011, 2010 and 2009 was approximately $8,594, $7,945 and $7,703, respectively.

Pension plans — We have various pension plans covering a portion of our United States and international employees. Pension plan benefits are generally based on years of employment and, for salaried employees, the level of compensation. Actuarially determined amounts are contributed to United States plans to provide sufficient assets to meet future benefit payment requirements. We also sponsor an unfunded supplemental pension plan for certain employees. International subsidiaries fund their pension plans according to local requirements.

A reconciliation of the benefit obligations, plan assets, accrued benefit cost and the amount recognized in financial statements for pension plans is as follows:

	United States						International
	2011			2010			2011			2010
Change in benefit obligation:
Benefit obligation at beginning of year	$	237,370		$	224,966		$	71,936		$	61,631
Service cost		6,058			5,997			2,097			1,632
Interest cost		12,008			11,883			2,973			2,791
Participant contributions		—			—			124			128
Plan amendments		5			643			(1,210	)		—
Addition of plan from business combination		—			—			—			1,241
Foreign currency exchange rate change		—			—			345			(448	)
Actuarial (gain) loss		21,289			18,336			(2,567	)		7,966
Benefits paid		(7,781	)		(24,455	)		(2,337	)		(3,005	)
Benefit obligation at end of year	$	268,949		$	237,370		$	71,361		$	71,936
Change in plan assets:
Beginning fair value of plan assets	$	175,864		$	113,356		$	29,799		$	28,833
Actual return on plan assets		15,946			17,266			672			994
Company contributions		672			69,697			3,788			3,446
Participant contributions		—			—			124			128
Foreign currency exchange rate change		—			—			121			(597	)
Benefits paid		(7,781	)		(24,455	)		(2,337	)		(3,005	)
Ending fair value of plan assets	$	184,701		$	175,864		$	32,167		$	29,799
Funded status at end of year	$	(84,248	)	$	(61,506	)	$	(39,194	)	$	(42,137	)
Amounts recognized in financial statements:
Noncurrent asset	$	—		$	—		$	191		$	497
Accrued benefit liability		(571	)		(467	)		(4	)		(346	)
Long-term pension and retirement obligations		(83,677	)		(61,039	)		(39,381	)		(42,288	)
Total amount recognized in financial statements	$	(84,248	)	$	(61,506	)	$	(39,194	)	$	(42,137	)

Benefits paid pursuant to distribution provisions of our United States plans for 2010 included lump sum settlement payments of $17,151.

	United States				International
	2011		2010		2011			2010
Amounts recognized in accumulated other comprehensive (gain) loss:
Net actuarial (gain) loss	$	136,927	$	123,449	$	14,937		$	17,486
Prior service cost (credit)		2,035		2,695		(1,201	)		14
Accumulated other comprehensive (gain) loss	$	138,962	$	126,144	$	13,736		$	17,500
Amounts expected to be recognized during next fiscal year:
Amortization of net actuarial (gain) loss	$	11,356	$	7,226	$	579		$	857
Amortization of prior service cost (credit)		667		666		(98	)		5
Total	$	12,023	$	7,892	$	481		$	862

The following table summarizes the changes in accumulated other comprehensive (gain) loss:

	United States						International
	2011			2010			2011			2010
Balance at beginning of year	$	126,144		$	124,496		$	17,500		$	9,569
Net (gain) loss arising during the year		20,917			15,787			(1,773	)		8,319
Prior service cost (credit) arising during the year		5			643			(1,210	)		—
Net gain (loss) recognized during the year		(7,438	)		(6,181	)		(858	)		(369	)
Settlement loss		—			(8,022	)		—			(190	)
Prior service (cost) credit recognized during the year		(666	)		(579	)		(5	)		(49	)
Exchange rate effect during the year		—			—			82			220
Balance at end of year	$	138,962		$	126,144		$	13,736		$	17,500

Information regarding the accumulated benefit obligation is as follows:

	United States				International
	2011		2010		2011		2010
For all plans:
Accumulated benefit obligation	$	261,767	$	223,966	$	56,529	$	55,865
For plans with benefit obligations in excess of plan assets:
Projected benefit obligation		268,949		237,370		64,945		60,050
Accumulated benefit obligation		261,767		223,966		54,749		49,631
Fair value of plan assets		184,701		175,864		30,185		23,047

Net pension benefit costs include the following components:

	United States									International
	2011			2010			2009			2011			2010			2009
Service cost	$	6,058		$	5,997		$	4,177		$	2,097		$	1,632		$	1,315
Interest cost		12,008			11,883			11,897			2,973			2,791			2,625
Expected return on plan assets		(15,575	)		(14,716	)		(11,982	)		(1,466	)		(1,348	)		(1,210	)
Amortization of prior service cost (credit)		666			579			603			5			49			49
Amortization of net actuarial (gain) loss		7,438			6,181			854			858			369			(19	)
Settlement loss		—			8,022			1,629			—			190			287
Total benefit cost	$	10,595		$	17,946		$	7,178		$	4,467		$	3,683		$	3,047

Net periodic pension cost for 2010 and 2009 included settlement losses of $8,212 and $1,916, respectively, due to lump sum retirement payments.

The weighted average assumptions used in the valuation of pension benefits were as follows:

	United States									International
	2011			2010			2009			2011			2010			2009
Assumptions used to determine benefit obligations at October 31:
Discount rate		4.46	%		5.21	%		5.50	%		4.43	%		4.17	%		4.78	%
Rate of compensation increase		3.20			3.30			3.30			3.16			3.21			2.86
Assumptions used to determine net benefit costs for the years ended October 31:
Discount rate		5.21			5.50			8.00			4.17			4.78			5.87
Expected return on plan assets		8.25			8.51			8.48			4.84			4.85			5.04
Rate of compensation increase		3.30			3.30			3.30			3.21			2.86			3.45

The amortization of prior service cost is determined using a straight-line amortization of the cost over the average remaining service period of employees expected to receive benefits under the plans.

In determining the expected return on plan assets, we consider both historical performance and an estimate of future long-term rates of return on assets similar to those in our plans. We consult with and consider the opinions of financial and other professionals in developing appropriate return assumptions.

Economic assumptions have a significant effect on the amounts reported. The effect of a one percent change in the discount rate, expected return on assets and compensation increase is shown in the table below. Bracketed numbers represent decreases in expense and obligation amounts.

	United States						International
	1% Point Increase			1% Point Decrease			1% Point Increase			1% Point Decrease
Discount rate:
Effect on total service and interest cost components in 2011	$	(3,107	)	$	3,696		$	(324	)	$	405
Effect on pension obligation as of October 31, 2011	$	(34,776	)	$	43,229		$	(11,917	)	$	13,847
Expected return on assets:
Effect on total service and interest cost components in 2011	$	(1,889	)	$	1,888		$	(302	)	$	301
Effect on pension obligation as of October 31, 2011	$	—		$	—		$	—		$	—
Compensation increase:
Effect on total service and interest cost components in 2011	$	2,816		$	(2,291	)	$	462		$	(420	)
Effect on pension obligation as of October 31, 2011	$	14,649		$	(12,040	)	$	8,575		$	(7,062	)

The allocation of pension plan assets as of October 31, 2011 and 2010 is as follows:

	United States				International
	2011		2010		2011		2010
Asset Category
Equity securities		22%		83%		—%		—%
Debt securities		33		16		—		—
Insurance contracts		—		—		58		59
Pooled investment funds		44		—		41		40
Other		1		1		1		1
Total		100%		100%		100%		100%

Our investment objective for defined benefit plan assets is to meet the plans’ benefit obligations, while minimizing the potential for future required plan contributions.

Our United States plans comprise 85 percent of the worldwide pension assets. The investment strategies focus on asset class diversification, liquidity to meet benefit payments and an appropriate balance of long-term investment return and risk. Target ranges for asset allocations are determined by dynamically matching the actuarial projections of the plans’ future liabilities and benefit payments with expected long-term rates of return on the assets, taking into account investment return volatility and correlations across asset classes. The current target in “return-seeking assets” is 50 percent and 50 percent in fixed income. Plan assets are diversified across several investment managers and are generally invested in liquid funds that are selected to track broad market equity and bond indices. Investment risk is carefully controlled with plan assets rebalanced to target allocations on a periodic basis and continual monitoring of investment managers’ performance relative to the investment guidelines established with each investment manager.

Our international plans comprise 15 percent of the worldwide pension assets. Asset allocations are developed on a country-specific basis. Our investment strategy is to cover pension obligations with insurance contracts or to employ independent managers to invest the assets.

The fair values of our pension plan assets at October 31, 2011 by asset category are in the table below.

	United States								International
	Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3
Cash	$	618	$	618	$	—	$	—	$	322	$	322	$	—	$	—
Money market funds		1,845		1,845		—		—		—		—		—		—
Equity securities:
Basic materials		5,081		5,081		—		—		—		—		—		—
Consumer goods		5,942		5,942		—		—		—		—		—		—
Financial		6,989		6,989		—		—		—		—		—		—
Healthcare		4,062		4,062		—		—		—		—		—		—
Industrial goods		3,993		3,993		—		—		—		—		—		—
Technology		4,767		4,767		—		—		—		—		—		—
Utilities		1,578		1,578		—		—		—		—		—		—
Mutual funds		7,353		7,353		—		—		—		—		—		—
Fixed income securities:
U.S. Government		24,224		2,445		21,779		—		—		—		—		—
Corporate		35,514		—		35,514		—		—		—		—		—
Other		826		—		826		—		—		—		—		—
Other types of investments:
Insurance contracts		—		—		—		—		18,501		—		—		18,501
Pooled investment funds		81,062		—		81,062		—		13,344		—		13,344		—
Other		847		847		—		—		—		—		—		—
	$	184,701	$	45,520	$	139,181	$	—	$	32,167	$	322	$	13,344	$	18,501

The fair values of our pension plan assets at October 31, 2010 by asset category are in the table below.

	United States								International
	Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3
Cash	$	580	$	580	$	—	$	—	$	—	$	—	$	—	$	—
Money market funds		19,224		19,224		—		—		309		309		—		—
Equity securities:
Basic materials		6,776		6,776		—		—		—		—		—		—
Consumer goods		7,789		7,789		—		—		—		—		—		—
Financial		9,768		9,768		—		—		—		—		—		—
Healthcare		4,483		4,483		—		—		—		—		—		—
Industrial goods		4,623		4,623		—		—		—		—		—		—
Technology		4,339		4,339		—		—		—		—		—		—
Utilities		1,839		1,839		—		—		—		—		—		—
Mutual funds		87,339		87,339		—		—		—		—		—		—
Fixed income securities:
U.S. Government		14,329		4,068		10,261		—		—		—		—		—
Corporate		14,489		—		14,489		—		—		—		—		—
Other		57		—		57		—		—		—		—		—
Other types of investments:
Insurance contracts		—		—		—		—		17,699		—		—		17,699
Pooled investment funds		—		—		—		—		11,791		—		11,791		—
Other		229		229		—		—		—		—		—		—
	$	175,864	$	151,057	$	24,807	$	—	$	29,799	$	309	$	11,791	$	17,699

At October 31, 2011 and 2010, the pension plans did not have any investment in our common shares.

The inputs and methodology used to measure fair value of plan assets are consistent with those described in Note 18. Following are the valuation methodologies used to measure these assets:

• Money market funds — Money market funds are public investment vehicles that are valued with a net asset value of one dollar. This is a quoted price in an active market and is classified as Level 1.

• Equity securities — Common stocks are valued at the closing price reported on the active market on which the individual securities are traded and are classified as Level 1. Mutual funds are valued at the net asset values of the shares at year-end, as determined by the closing price reported on the active market on which the individual securities are traded and are classified as Level 1.

• Fixed income securities — U.S. Treasury bills reflect the closing price on the active market in which the securities are traded and are classified as Level 1. Securities of U.S. agencies are valued using bid evaluations and a classified as Level 2. Corporate fixed income securities are valued using evaluated prices, such as dealer quotes, bids and offers and are therefore classified as Level 2.

• Insurance contracts — Insurance contracts are investments with various insurance companies. The assets are valued at the fair value as reported by the insurance companies. These contracts do not hold any specific assets. These investments are classified as Level 3.

• Pooled investment funds — These are public investment vehicles valued using the net asset value. The net asset value is based on the value of the assets owned by the plan, less liabilities. These investments are not quoted on an active exchange and are classified as Level 2.

The following table sets forth a summary of changes in fair value of the pension plan investments classified as Level 3 for the years ended October 31, 2011 and 2010:

	2011		2010
Balance at beginning of year	$	17,699	$	17,600
Net unrealized gains		55		692
Purchases, sales, issuances and settlements, net		679		(231	)
Transfers in (out)		—		—
Foreign currency translation		68		(362	)
Balance at end of year	$	18,501	$	17,699

Contributions to pension plans in 2012 are estimated to be approximately $12,500.

Retiree pension benefit payments, which reflect expected future service, are anticipated to be paid as follows:

Year	United States		International
2012	$	12,762	$	1,942
2013		11,443		1,989
2014		12,669		2,399
2015		13,982		2,840
2016		14,243		2,288
2017-2021		92,072		17,271

Contributions and retiree pension benefit payments for 2012 include amounts related to the termination of a plan.

Other postretirement plans — We have an unfunded postretirement benefit plan covering the majority of our United States employees. Employees hired after January 1, 2002, are not eligible to participate in this plan. The plan provides medical and life insurance benefits. The plan is contributory, with retiree contributions in the form of premiums that are adjusted annually, and contains other cost-sharing features, such as deductibles and coinsurance. We also sponsor an unfunded, non-contributory postretirement benefit plan that provides medical and life insurance benefits for certain international employees.

A reconciliation of the benefit obligations, accrued benefit cost and the amount recognized in financial statements for other postretirement plans is as follows:

	United States						International
	2011			2010			2011			2010
Change in benefit obligation:
Benefit obligation at beginning of year	$	55,599		$	52,858		$	659		$	605
Service cost		1,122			837			31			29
Interest cost		2,932			2,504			41			45
Participant contributions		1,307			1,143			—			—
Plan amendment		—			(1,171	)		—			—
Foreign currency exchange rate change		—			—			13			37
Actuarial (gain) loss		14,409			1,326			(62	)		(53	)
Benefits paid		(1,977	)		(1,898	)		(4	)		(4	)
Benefit obligation at end of year	$	73,392		$	55,599		$	678		$	659
Change in plan assets:
Beginning fair value of plan assets	$	—		$	—		$	—		$	—
Company contributions		670			755			4			4
Participant contributions		1,307			1,143			—			—
Benefits paid		(1,977	)		(1,898	)		(4	)		(4	)
Ending fair value of plan assets	$	—		$	—		$	—		$	—
Funded status at end of year	$	(73,392	)	$	(55,599	)	$	(678	)	$	(659	)
Amounts recognized in financial statements:
Accrued benefit liability	$	(2,123	)	$	(2,339	)	$	(4	)	$	(4	)
Long-term postretirement obligations		(71,269	)		(53,260	)		(674	)		(655	)
Total amount recognized in financial statements	$	(73,392	)	$	(55,599	)	$	(678	)	$	(659	)

The 2010 Amendment noted in the preceding table relates to changes in deductibles and out-of-pocket maximums and changes in limits for certain benefits.

	United States						International
	2011			2010			2011			2010
Amounts recognized in accumulated other comprehensive (gain) loss:
Net actuarial (gain) loss	$	37,690		$	24,887		$	(260	)	$	(203	)
Prior service cost (credit)		(2,316	)		(3,464	)		—			—
Accumulated other comprehensive (gain) loss	$	35,374		$	21,423		$	(260	)	$	(203	)
Amounts expected to be recognized during next fiscal year:
Amortization of net actuarial (gain) loss	$	2,681		$	1,498		$	(14	)	$	(5	)
Amortization of prior service cost (credit)		(584	)		(1,147	)		—			—
Total	$	2,097		$	351		$	(14	)	$	(5	)

The following table summarizes the changes in accumulated other comprehensive (gain) loss:

	United States						International
	2011			2010			2011			2010
Balance at beginning of year	$	21,423		$	21,291		$	(203	)	$	(146	)
Net (gain) loss arising during the year		14,410			1,326			(62	)		(53	)
Prior service cost (credit) arising during the year		—			(1,171	)		—			—
Net gain (loss) recognized during the year		(1,606	)		(1,170	)		8			5
Prior service credit (cost) recognized during the year		1,147			1,147			—			—
Exchange rate effect during the year		—			—			(3	)		(9	)
Balance at end of year	$	35,374		$	21,423		$	(260	)	$	(203	)

Net postretirement benefit costs include the following components:

	United States									International
	2011			2010			2009			2011			2010			2009
Service cost	$	1,122		$	837		$	589		$	31		$	29		$	23
Interest cost		2,932			2,504			2,926			41			44			35
Amortization of prior service cost (credit)		(1,147	)		(1,147	)		(1,009	)		—			—			—
Amortization of net actuarial (gain) loss		1,606			1,170			765			(8	)		(5	)		(11	)
Total benefit cost	$	4,513		$	3,364		$	3,271		$	64		$	68		$	47

The weighted average assumptions used in the valuation of postretirement benefits were as follows:

	United States									International
	2011			2010			2009			2011			2010			2009
Assumptions used to determine benefit obligations at October 31:
Discount rate		4.50	%		5.25	%		5.50	%		5.85	%		5.75	%		6.75	%
Health care cost trend rate		9.36			9.00			8.25			7.00			6.80			7.50
Rate to which health care cost trend rate is assumed to decline (ultimate trend rate)		5.00			5.00			4.50			3.50			4.80			4.80
Year the rate reaches the ultimate trend rate		2016			2020			2015			2031			2013			2013
Assumption used to determine net benefit costs for the years ended October 31:
Discount rate		5.25	%		5.50	%		8.00	%		5.75	%		6.75	%		7.70	%

The discount rate and the health care cost trend rate assumptions have a significant effect on the amounts reported. For example, a one-percentage point change in the discount rate and the assumed health care cost trend rate would have the following effects:

	United States						International
	1% Point Increase			1% Point Decrease			1% Point Increase			1% Point Decrease
Discount rate:
Effect on total service and interest cost components in 2011	$	(628	)	$	753		$	(9	)	$	11
Effect on postretirement obligation as of October 31, 2011	$	(10,119	)	$	12,871		$	(135	)	$	181
Health care trend rate:
Effect on total service and interest cost components in 2011	$	871		$	(688	)	$	19		$	(14	)
Effect on postretirement obligation as of October 31, 2011	$	11,804		$	(9,476	)	$	174		$	(132	)

Contributions to postretirement plans in 2012 are estimated to be approximately $1,900.

Retiree postretirement benefit payments are anticipated to be paid as follows:

	United States				International
Year	With Medicare Part D Subsidy		Without Medicare Part D Subsidy
2012	$	2,123	$	1,872	$	4
2013		2,316		2,013		4
2014		2,693		2,345		8
2015		2,955		2,556		16
2016		3,238		2,787		17
2017-2021		18,483		15,279		115

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Retirement, pension and other postretirement plans (Details 5) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Oct. 31, 2011
Discount Rate [Member] | Pension plan, United States [Member]
Effect of a one percent change in the discount rate, expected return on assets and compensation increase
Defined benefit plan effect of 1% point increase on service and interest cost	$ (3,107)
Defined benefit plan effect of 1% point decrease on service and interest cost	3,696
Defined benefit plan effect of 1% point increase on pension obligation	(34,776)
Defined benefit plan effect of 1% point decrease on pension obligation	43,229
Discount Rate [Member] | Pension plan International [Member]
Effect of a one percent change in the discount rate, expected return on assets and compensation increase
Defined benefit plan effect of 1% point increase on service and interest cost	(324)
Defined benefit plan effect of 1% point decrease on service and interest cost	405
Defined benefit plan effect of 1% point increase on pension obligation	(11,917)
Defined benefit plan effect of 1% point decrease on pension obligation	13,847
Expected Return On Assets [Member] | Pension plan, United States [Member]
Effect of a one percent change in the discount rate, expected return on assets and compensation increase
Defined benefit plan effect of 1% point increase on service and interest cost	(1,889)
Defined benefit plan effect of 1% point decrease on service and interest cost	1,888
Defined benefit plan effect of 1% point increase on pension obligation	0
Defined benefit plan effect of 1% point decrease on pension obligation	0
Expected Return On Assets [Member] | Pension plan International [Member]
Effect of a one percent change in the discount rate, expected return on assets and compensation increase
Defined benefit plan effect of 1% point increase on service and interest cost	(302)
Defined benefit plan effect of 1% point decrease on service and interest cost	301
Defined benefit plan effect of 1% point increase on pension obligation	0
Defined benefit plan effect of 1% point decrease on pension obligation	0
Compensation Increase [Member] | Pension plan, United States [Member]
Effect of a one percent change in the discount rate, expected return on assets and compensation increase
Defined benefit plan effect of 1% point increase on service and interest cost	2,816
Defined benefit plan effect of 1% point decrease on service and interest cost	(2,291)
Defined benefit plan effect of 1% point increase on pension obligation	14,649
Defined benefit plan effect of 1% point decrease on pension obligation	(12,040)
Compensation Increase [Member] | Pension plan International [Member]
Effect of a one percent change in the discount rate, expected return on assets and compensation increase
Defined benefit plan effect of 1% point increase on service and interest cost	462
Defined benefit plan effect of 1% point decrease on service and interest cost	(420)
Defined benefit plan effect of 1% point increase on pension obligation	8,575
Defined benefit plan effect of 1% point decrease on pension obligation	$ (7,062)

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Financial instruments (Details) (USD $) In Thousands, unless otherwise specified	Oct. 31, 2011	Oct. 31, 2010
Summarized values by currency and forward exchange contracts outstanding
Notional amount of foreign currency derivative sale contracts	$ 70,851	$ 36,449
Foreign currency derivative fair value sale contracts	70,739	37,406
Notional amount of foreign currency derivative purchase contracts	193,026	244,741
Foreign currency derivative fair value purchase contracts	193,290	257,350
Euro [Member]
Summarized values by currency and forward exchange contracts outstanding
Notional amount of foreign currency derivative sale contracts	10,920	17,145
Foreign currency derivative fair value sale contracts	10,967	17,601
Notional amount of foreign currency derivative purchase contracts	88,209	171,870
Foreign currency derivative fair value purchase contracts	87,736	181,430
Pound sterling [Member]
Summarized values by currency and forward exchange contracts outstanding
Notional amount of foreign currency derivative sale contracts	29,381	0
Foreign currency derivative fair value sale contracts	29,465	0
Notional amount of foreign currency derivative purchase contracts	56,028	25,832
Foreign currency derivative fair value purchase contracts	56,515	26,576
Japanese Yen [Member]
Summarized values by currency and forward exchange contracts outstanding
Notional amount of foreign currency derivative sale contracts	16,723	12,947
Foreign currency derivative fair value sale contracts	16,416	13,260
Notional amount of foreign currency derivative purchase contracts	15,788	18,678
Foreign currency derivative fair value purchase contracts	15,566	19,490
Others [Member]
Summarized values by currency and forward exchange contracts outstanding
Notional amount of foreign currency derivative sale contracts	13,827	6,357
Foreign currency derivative fair value sale contracts	13,891	6,545
Notional amount of foreign currency derivative purchase contracts	33,001	28,361
Foreign currency derivative fair value purchase contracts	$ 33,473	$ 29,854

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Goodwill and intangible assets (Details 2) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Oct. 31, 2011
Estimated Amortization Expense
Estimated Amortization Expense, 2012	$ 10,359
Estimated Amortization Expense, 2013	9,713
Estimated Amortization Expense, 2014	8,881
Estimated Amortization Expense, 2015	8,330
Estimated Amortization Expense, 2016	$ 7,793

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Retirement, pension and other postretirement plans (Details Textuals) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Oct. 31, 2011	Oct. 31, 2010	Oct. 31, 2009
Defined Benefit Plan Disclosure [Line Items]
Percentage of target rate in return seeking assets in fixed income	50.00%
Percentage of target rate in fixed income	50.00%
Retirement Pension And Other Postretirement Plans (Textuals) [Abstract]
Defined contribution plan vesting period	3 years
Expenses on retirement plans	$ 8,594	$ 7,945	$ 7,703
Investments in common shares	0	0
Pension plan, United States [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plans, settlement payments		17,151
Net periodic pension cost for settlement losses	0	8,022	1,629
Percentage of World wide pension assets	85.00%
Components of net periodic pension cost [Member]
Defined Benefit Plan Disclosure [Line Items]
Net periodic pension cost for settlement losses		8,212	1,916
Employer contribution in next fiscal year	12,500
Pension plan International [Member]
Defined Benefit Plan Disclosure [Line Items]
Net periodic pension cost for settlement losses	0	190	287
Percentage of World wide pension assets	15.00%
Components of net postretirement benefit cost [Member]
Defined Benefit Plan Disclosure [Line Items]
Employer contribution in next fiscal year	$ 1,900

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Contingencies

12 Months Ended

Oct. 31, 2011

Contingencies [Abstract]

Contingencies

Note 20 — Contingencies

We are involved in pending or potential litigation regarding environmental, product liability, patent, contract, employee and other matters arising from the normal course of business. Including the environmental matter discussed below, it is our opinion, after consultation with legal counsel, that resolutions of these matters are not expected to result in a material effect on our financial condition, quarterly or annual operating results or cash flows.

Environmental — We have voluntarily agreed with the City of New Richmond, Wisconsin and other Potentially Responsible Parties to share costs associated with the remediation of the City of New Richmond municipal landfill (the “Site”) and constructing a potable water delivery system serving the impacted area down gradient of the Site. At October 31, 2011, and 2010 our accrual for the ongoing operation, maintenance and monitoring obligation at the Site was $795 and $885, respectively. The liability for environmental remediation represents management’s best estimate of the probable and reasonably estimable undiscounted costs related to known remediation obligations. The accuracy of our estimate of environmental liability is affected by several uncertainties such as additional requirements that may be identified in connection with remedial activities, the complexity and evolution of environmental laws and regulations, and the identification of presently unknown remediation requirements. Consequently, our liability could be greater than our current estimate. However, we do not expect that the costs associated with remediation will have a material adverse effect on our financial condition or results of operations.

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Income taxes (Details Textuals) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Oct. 31, 2011	Oct. 31, 2010	Oct. 31, 2009	Oct. 31, 2008
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	$ 74,915
Total unrecognized tax benefits impact the effective tax rate	2,517	4,019
Income Taxes (Textuals) [Abstract]
Earnings before income taxes of domestic operations	181,258	130,149	21,864
Foreign income tax expense benefit related to the utilization of loss carryforwards	682	1,876	5
Additional tax benefit relating to retroactive reinstatement of research credit	1,580
Favorable adjustment related to settlement with tax authorities	2,027
Recognized tax benefits		(10,243)
Additional tax charge		5,249
Remeasurement of unrecognized tax benefits			2,752
Benefit related to an adjustment to current tax year	387	388	515
Tax Benefit Related To Prior Tax Year			531
Total unrecognized tax benefits	2,576	4,078	3,969	7,685
Accrued interest expense related to unrecognized tax benefits	327	460
Earnings before income taxes of international operations	133,303	101,170	(149,055)
Undistributed earnings aggregated	391,679	340,354
Tax credit carryforwards which will expire in 2013 through 2017	645
Operating loss carryforwards which will Expire in 2012 through 2031	74,915
Indefinite carryforward period	575
Net change in the valuation allowance	1,442	2,081
Valuation allowance relates to tax credits and loss carryforwards	4,287
Minimum [Member]
Operating Loss Carryforwards [Line Items]
Decrease in unrecognized tax benefits	0
Total unrecognized tax benefits impact the effective tax rate	0
Maximum [Member]
Operating Loss Carryforwards [Line Items]
Decrease in unrecognized tax benefits	500
Total unrecognized tax benefits impact the effective tax rate	500
Federal [Member]
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	19,117
Income Taxes (Textuals) [Abstract]
Operating loss carryforwards which will Expire in 2012 through 2031	19,117
Foreign [Member]
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	575
Income Taxes (Textuals) [Abstract]
Operating loss carryforwards which will Expire in 2012 through 2031	575
State [Member]
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	55,798
Income Taxes (Textuals) [Abstract]
Operating loss carryforwards which will Expire in 2012 through 2031	$ 55,798

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Financial instruments (Tables)

12 Months Ended

Oct. 31, 2011

Financial instruments (Tables) [Abstract]

Summarized values by currency and forward exchange contracts outstanding

	Sell				Buy
	Notional Amounts		Fair Market Value		Notional Amounts		Fair Market Value
October 31, 2011 contract amounts:
Euro	$	10,920	$	10,967	$	88,209	$	87,736
Pound sterling		29,381		29,465		56,028		56,515
Japanese yen		16,723		16,416		15,788		15,566
Others		13,827		13,891		33,001		33,473
Total	$	70,851	$	70,739	$	193,026	$	193,290
October 31, 2010 contract amounts:
Euro	$	17,145	$	17,601	$	171,870	$	181,430
Pound sterling		—		—		25,832		26,576
Japanese yen		12,947		13,260		18,678		19,490
Others		6,357		6,545		28,361		29,854
Total	$	36,449	$	37,406	$	244,741	$	257,350

Carrying amounts and fair values of financial instruments, other than receivables and accounts payable

	2011				2010
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Cash and cash equivalents	$	37,408	$	37,408	$	42,329	$	42,329
Marketable securities		—		—		7,840		7,840
Notes payable		33		33		2,160		2,160
Long-term debt		319,123		313,850		110,260		112,495
Forward exchange contracts (net)		376		376		11,653		11,653

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Acquisitions

12 Months Ended

Oct. 31, 2011

Acquisitions [Abstract]

Acquisitions

Note 13 — Acquisitions

Business acquisitions have been accounted for as purchases, with the acquired assets and liabilities recorded at estimated fair value on the dates of acquisition. The cost in excess of the net assets of the business acquired is included in goodwill. Operating results after the respective dates of acquisitions are included in the Consolidated Statement of Income.

Value Plastics

On August 26, 2011, we acquired 100 percent of the outstanding shares of Value Plastics, a leading designer and manufacturer of precision engineered, plastic molded, single-use fluid connection components headquartered in Fort Collins, Colorado. Value Plastics’ products are used primarily in critical flow control applications for healthcare and medical device markets. Cash, and proceeds from our revolving loan agreement and private shelf facility with NYLIM, were used for the purchase. Value Plastics supports our strategic objective of building upon our medical and life sciences platform and complements our growing positions in biomaterial delivery devices and medical device assembly. Our global reach and infrastructure will provide opportunities to leverage the business’ profitable growth beyond its primary domestic markets served and into general industrial markets. Value Plastics is being reported in our Advanced Technology Systems segment.

The preliminary allocation of purchase price is shown in the table below. Although we do not expect changes, new information may be obtained about facts or circumstances that existed as of the acquisition date that, if known, would affect the measurement amounts recorded to date.

Fair values:
Assets acquired	$	26,647
Liabilities assumed		(18,930	)
Intangible assets subject to amortization		74,720
Goodwill		179,050
		261,487
Less cash acquired		(3,108	)
Purchase price	$	258,379

The intangible assets include customer relationships of $40,400 that will be amortized over 25 years, technology and know-how of $18,500 that will be amortized over 15 years and a tradename asset of $15,400 that will be amortized over 20 years. None of the goodwill associated with the Value Plastics acquisition is tax deductible; however, they had $15,600 of existing goodwill related to a previous acquisition that is tax deductible.

The following unaudited pro forma financial information for 2011 and 2010 assumes the acquisition occurred as of the beginning of 2010, after giving effect to certain adjustments, including amortization of intangible assets, interest expense on acquisition debt and income tax effects. The pro forma results have been prepared for comparative purposes only and are not necessarily indicative of the results of operations which may occur in the future or that would have occurred had the acquisition of Value Plastics been affected on the date indicated, nor are they necessarily indicative of our future results of operations.

Years ended October 31	2011		2010
Sales	$	1,259,127	$	1,067,729
Net income	$	224,934	$	166,921
Basic earnings per share	$	3.33	$	2.47
Diluted earnings per share	$	3.29	$	2.44

Proforma results for 2010 were adjusted to include $375 of acquisition-related expenses and $4,575 of nonrecurring expense related to the fair value adjustment to acquisition-date inventory. Proforma results for 2011 were adjusted to exclude $375 of acquisition-related expenses and $2,401 of nonrecurring expense related to the fair value adjustment to acquisition-date inventory. Proforma results for both years include $3,829 of pretax amortization expense related to Value Plastics’ intangible assets.

Other 2011 acquisitions

On November 1, 2010, we acquired 100 percent of the outstanding shares of Micromedics, a St. Paul, Minnesota company that is a leader in applying and dispensing biomaterials for controlling bleeding, healing wounds and other related medical procedures. The acquisition date fair value of the consideration transferred, which consisted solely of cash, was $21,296. Based on the fair value of the assets acquired and the liabilities assumed, goodwill of $13,312 and identifiable intangible assets of $7,500 were recorded, of which customer relationships is the primary asset valued at $4,550 and amortized over 10 years. Goodwill associated with this acquisition is not tax deductible. Micromedics is being reported in our Advanced Technology Systems segment.

On June 30, 2011, we acquired 100% of the outstanding shares of Verbruggen, a Belgium manufacturer of flat dies and coextrusion equipment for the multi-layer flexible packaging industry. The acquisition date fair value of the consideration transferred, which consisted solely of cash, was $13,305. Based on the fair value of the assets acquired and the liabilities assumed, goodwill of $8,461 and identifiable intangible assets of $4,017 were recorded, of which customer relationships is the primary asset valued at $2,900 and amortized over 11 years. Goodwill associated with this acquisition is not tax deductible. Verbruggen is being reported in our Adhesive Dispensing Systems segment.

Assuming the Micromedics and Verbruggen acquisitions had taken place at the beginning of 2009, pro-forma results for 2011, 2010 and 2009 would not have been materially different.

2010 acquisition

On January 5, 2010, we acquired 100 percent of the outstanding shares of G L T Gesellschaft für Löttechnik mbH (“GLT”), a German distributor of EFD dispensing systems and related products. The acquisition date fair value of the consideration transferred, which consisted solely of cash, was $18,576. Based on the fair value of the assets acquired and the liabilities assumed, goodwill of $6,034 and identifiable intangible assets of $7,270 were recorded. The identifiable intangible assets consist primarily of $5,661 of customer relationships that are being amortized over 10 years. GLT is being reported in our Advanced Technology Systems segment. Assuming this acquisition had taken place at the beginning of 2009, pro-forma results for 2010 and 2009 would not have been materially different.

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Operating segments and geographic area data (Details 2) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Oct. 31, 2011	Oct. 31, 2010	Oct. 31, 2009
Total consolidated income before income taxes
Total profit (loss) for reportable segments	$ 315,543	$ 234,833	$ (127,807)
Interest expense	(5,069)	(6,263)	(7,771)
Interest and investment income	569	819	492
Other - net	3,518	1,930	7,895
Income (loss) before income taxes	$ 314,561	$ 231,319	$ (127,191)