PROPERTY, PLANT AND EQUIPMENT

6 Months Ended

Apr. 30, 2017

PROPERTY, PLANT AND EQUIPMENT [Abstract]

PROPERTY, PLANT AND EQUIPMENT

NOTE 4 - PROPERTY, PLANT AND EQUIPMENT

Property, plant and equipment consist of the following:

	April 30, 2017		October 30, 2016
Land	$	9,732	$	8,036
Buildings and improvements		123,194		121,873
Machinery and equipment		1,514,409		1,475,755
Leasehold improvements		20,106		19,224
Furniture, fixtures and office equipment		13,045		12,700
Construction in progress		35,443		23,961
		1,715,929		1,661,549
Less accumulated depreciation and amortization		1,212,029		1,155,115
	$	503,900	$	506,434

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

	April 30, 2017		October 30, 2016
Machinery and equipment	$	34,917	$	34,917
Less accumulated amortization		12,098		10,352
	$	22,819	$	24,565

Depreciation and amortization expense for property, plant and equipment was $20.1 million and $39.8 million for the three and six month periods ended April 30, 2017, respectively, and $18.9 million and $38.0 million for the three and six month periods ended May 1, 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 $2.8 million and $5.0 million in the three and six month periods ended April 30, 2017, respectively.