Discontinued Operations

12 Months Ended

Oct. 31, 2013

Discontinued Operations And Disposal Groups [Abstract]

Discontinued Operations

Note 18 — Discontinued Operations

One of the elements of the Company’s multi-year Profit Improvement Plan involves divesting or exiting certain non-core businesses. In November 2013, the Company completed the sale of Mervin Manufacturing, Inc., a manufacturer of snowboards and related products under the “Lib-Technologies” and “GNU” brands, (“Mervin”) for $58 million, subject to a final working capital adjustment. Additionally, the Company is pursuing strategic alternatives for Hawk Designs, Inc., its subsidiary that owns and operates the “Hawk” brand, (“Hawk”) as well as its majority stake in U.K.-based Surfdome Shop, Ltd., a multi-brand e-commerce retailer, (“Surfdome”). Accordingly, each of the Company’s Mervin, Hawk and Surfdome businesses were classified as “held for sale” as of October 31, 2013 and are presented as discontinued operations in the accompanying consolidated financial statements for all periods presented. The operating results of discontinued operations are as follows:

	Year Ended October 31,
In thousands	2013		2012			2011
Revenues, net	$	83,209	$	71,390		$	36,734
Income before income taxes		9,766		11,155			10,316
Provision for income taxes		3,880		3,653			4,153
Income from discontinued operations		5,886		7,502			6,163
Less: net loss/(income) attributable to non-controlling interest		315		(239	)		—
Income from discontinued operations attributable to Quiksilver, Inc.	$	6,201	$	7,263		$	6,163

The components of major assets and liabilities held for sale at October 31, 2013 and 2012 are as follows:

	Year ended October 31,
In thousands	2013		2012
Assets:
Receivables, net	$	24,229	$	24,773
Inventories Inventories		25,915		17,869
Goodwill		16,109		16,117
Other		9,388		6,623
	$	75,641	$	65,382
Liabilities:
Accounts payable	$	13,039	$	9,239
Accrued liabilities		3,381		4,700
Other		1,719		150
	$	18,139	$	14,089

Total assets held for sale as of October 31, 2013 and 2012 by geographical segment were as follows:

	October 31,
In thousands	2013		2012
Americas		27,398		27,069
EMEA		47,588		37,611
APAC		655		702
	$	75,641	$	65,382