Auction Rate Securities

12 Months Ended

Oct. 31, 2015

Investments, Debt and Equity Securities [Abstract]

Auction Rate Securities

AUCTION RATE SECURITIES

At October 31, 2015 and 2014, we held investments in auction rate securities from three different issuers having an aggregate original principal amount of $15.0 million and an amortized cost basis of $13.0 million. At October 31, 2015 and 2014, the fair value of these securities was $13.0 million. Our auction rate securities are debt instruments with stated maturities ranging from 2033 to 2050, for which the interest rate is designed to be reset through Dutch auctions approximately every thirty days. Auctions for these securities have not occurred since August 2007. We have classified all our auction rate security investments as noncurrent, as we do not reasonably expect to liquidate the securities for cash within the next twelve months.

At October 31, 2015 and 2014, there were no unrealized gains or losses included in AOCL and the total amount of other-than-temporary impairment credit loss on our auction rate security investments included in our retained earnings was $2.0 million.

Significant Assumptions Used to Determine the Fair Values of Our Auction Rate Securities

Assumption	October 31, 2015	October 31, 2014
Discount rates	L + 0.38% – L + 2.13%	L + 0.28% – L + 4.06%
Yields	2.15%, L + 2.00%	2.15%, L + 2.00%
Average expected lives	4 – 10 years	4 – 10 years

L - One Month LIBOR