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Auction Rate Securities (Tables)
12 Months Ended
Oct. 31, 2013
Significant Assumptions Used to Determine Fair Value of Auction Rate Securities

The following table presents the significant assumptions used to determine the fair values of our auction rate securities at October 31, 2013 and 2012:

 

 Assumption

 

October 31, 2013

 

October 31, 2012

 Discount rates

  L + 0.33% - L + 3.01%   L + 1.37% - L + 6.86%

 Yields

  2.15%, L + 2.00%   2.15%, L + 2.00% - L + 3.50%

 Average expected lives

  4 - 10 years   4 - 10 years

L - One Month LIBOR

Changes in Cost Basis and Fair Value of Auction Rate Securities

The following tables present the changes in the cost basis and fair value of our auction rate securities as of October 31, 2013 and 2012:

 

(in thousands)    Amortized
Cost Basis
     Fair Value
(Level 3)
 

Balance at November 1, 2012

   $ 17,994         $ 17,780     

Unrealized gains recorded in AOCL

     —           214     

Redemption of security by issuer

     (5,000)          (5,000)    
  

 

 

    

 

 

 

Balance at October 31, 2013

   $ 12,994         $ 12,994     
  

 

 

    

 

 

 
(in thousands)    Amortized
Cost Basis
     Fair Value
(Level 3)
 

Balance at November 1, 2011

   $ 18,307         $ 15,670     

Unrealized gains recorded in AOCL

     —           2,110     

Other-than-temporary credit loss recognized in earnings

     (313)          —     
  

 

 

    

 

 

 

Balance at October 31, 2012

   $ 17,994         $ 17,780