SUBSIDIARY SHARE REPURCHASE AND TENDER OFFER

12 Months Ended

Nov. 02, 2014

SUBSIDIARY SHARE REPURCHASE AND TENDER OFFER [Abstract]

SUBSIDIARY SHARE REPURCHASE AND TENDER OFFER

NOTE 14 – SUBSIDIARY SHARE REPURCHASE AND TENDER OFFER

Since the second quarter of fiscal 2011, the board of directors of PSMC (in 2014 PSMC’s name was changed to PDMC, see Note 2), a subsidiary of the Company based in Taiwan, authorized several share repurchase programs for PSMC to purchase for retirement shares of its outstanding common stock. The last of these repurchase programs concluded in the first fiscal quarter of 2013 in which PSMC purchased 9.2 million shares at a cost of $4.2 million. These repurchase programs increased the Company's ownership in PSMC from 72.09% at October 28, 2012, to 75.11% at January 27, 2013. During fiscal 2013 the Company increased its ownership interest in PSMC, primarily through a tender offer, to 98.63% by purchasing 51.4 million shares at a cost of $28.1 million. In January 2014 the Company increased its ownership percentage in PSMC to 100% at a cost of $1.7 million for the then remaining 3.0 million shares that were not owned by the Company.

The table below presents the effect of the change in the Company’s ownership interest in PSMC on the Company's equity for fiscal years 2014, 2013 and 2012 (in 2014 112.9 million shares of PSMC common stock were issued and 3.0 million shares were acquired, and shares of PSMC common stock were purchased in the amounts of 60.5 million shares in 2013 and 35.9 million shares in 2012).

	Year Ended
	November 2, 2014			November 3, 2013			October 28, 2012

Net income attributable to Photronics, Inc. shareholders	$	25,996		$	17,966		$	27,868

Increase (decrease) in Photronics, Inc.'s additional paid-in capital		(6,183	)		600			1,985

Increase (decrease) in Photronics, Inc.’s accumulated other comprehensive income		399			(237	)		(78	)

Change from net income attributable to Photronics, Inc. shareholders due to issuance of shares of PDMC and transfers to or from noncontrolling interests	$	20,212		$	18,329		$	29,775

- Definition

The entire disclosure for noncontrolling interest in consolidated subsidiaries, which could include the name of the subsidiary, the ownership percentage held by the parent, the ownership percentage held by the noncontrolling owners, the amount of the noncontrolling interest, the location of this amount on the balance sheet (when not reported separately), an explanation of the increase or decrease in the amount of the noncontrolling interest, the noncontrolling interest share of the net Income or Loss of the subsidiary, the location of this amount on the income statement (when not reported separately), the nature of the noncontrolling interest such as background information and terms, the amount of the noncontrolling interest represented by preferred stock, a description of the preferred stock, and the dividend requirements of the preferred stock.

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