PROPERTY, PLANT AND EQUIPMENT

3 Months Ended

Jan. 29, 2017

PROPERTY, PLANT AND EQUIPMENT [Abstract]

PROPERTY, PLANT AND EQUIPMENT

NOTE 4 - PROPERTY, PLANT AND EQUIPMENT

Property, plant and equipment consists of the following:

	January 29, 2017		October 30, 2016
Land	$	7,963	$	8,036
Buildings and improvements		121,550		121,873
Machinery and equipment		1,474,314		1,475,755
Leasehold improvements		19,429		19,224
Furniture, fixtures and office equipment		12,770		12,700
Construction in progress		29,984		23,961
		1,666,010		1,661,549
Less accumulated depreciation and amortization		1,169,334		1,155,115
	$	496,676	$	506,434

Equipment under capital leases are included in above property, plant and equipment as follows:

	January 29, 2017		October 30, 2016
Machinery and equipment	$	34,917	$	34,917
Less accumulated amortization		11,225		10,352
	$	23,692	$	24,565

Depreciation and amortization expense for property, plant and equipment was $19.7 million and $19.1 million for the three month periods ended January 29, 2017 and January 31, 2016, respectively.

During the three-month period ended January 29, 2017, the Company acquired a business comprised of manufacturing assets and certain intellectual property, that enables the Company to expand its manufacturing capability, primarily in large area masks for IC, for approximately $5.7 million, including a $0.3 million holdback payable one year from the acquisition date. The transaction was accounted for in accordance with ASC 805 – “Business Combinations”, with substantially all of the purchase price being allocated to long-lived assets that will be depreciated over five years.

During the three month period ended January 29, 2017, the Company entered into a noncash transaction with a customer which resulted in the acquisition of equipment with a fair value of approximately $2.1 million.