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CHANGES IN EQUITY
 9 Months Ended
Jul. 29, 2018
CHANGES IN EQUITY [Abstract]  
CHANGES IN EQUITY
NOTE 2 - CHANGES IN EQUITY

The following tables set forth our consolidated changes in equity for the three and nine month periods ended July 29, 2018 and July 30, 2017:
 
  
Three Months Ended July 29, 2018
 
    
  
Photronics, Inc. Shareholders
  
              
Accumulated
       
    
Common Stock
Additional
Paid-in
 
Retained
 
Treasury
Other
Comprehensive
Non-
controlling
 
Total
   
  
Shares
  
Amount
  
Capital
  
Earnings
  
Stock
  
Income
  
Interests
  
Equity
 
                         
Balance at April 30, 2018
  
69,443
  
$
694
  
$
552,977
  
$
205,953
  
$
-
  
$
23,756
  
$
134,686
  
$
918,066
 
                                 
Net income
  
-
   
-
   
-
   
13,005
   
-
   
-
   
6,792
   
19,797
 
Other comprehensive loss
  
-
   
-
   
-
   
-
   
-
   
(19,734
)
  
(4,773
)
  
(24,507
)
Sale of common stock through employee stock option and purchase plans
  
39
   
1
   
162
   
-
   
-
   
-
   
-
   
163
 
Restricted stock awards vesting and expense
  
23
   
-
   
449
   
-
   
-
   
-
   
-
   
449
 
Share-based compensation expense
  
-
   
-
   
334
   
-
   
-
   
-
   
-
   
334
 
Contribution from noncontrolling interest
  
-
   
-
   
-
   
-
   
-
   
-
   
5,998
   
5,998
 
Purchase of treasury stock
  
-
   
-
   
-
   
-
   
(6,787
)
  
-
   
-
   
(6,787
)
                                 
Balance at July 29, 2018
  
69,505
  
$
695
  
$
553,922
  
$
218,958
  
$
(6,787
)
 
$
4,022
  
$
142,703
  
$
913,513
 
 
  
Three Months Ended July 30, 2017
 
  
Photronics, Inc. Shareholders
 
         
Accumulated
      
  
Common Stock
  
Additional
Paid-in
  
Retained
  
Other
Comprehensive
  
Non-
controlling
  
Total
 
 
  
Shares
  
Amount
  
Capital
  
Earnings
  
Income
  
Interests
  
Equity
 
                      
Balance at May 1, 2017
  
68,496
  
$
685
  
$
545,019
  
$
180,004
  
$
4,171
  
$
114,875
  
$
844,754
 
                             
Net income
  
-
   
-
   
-
   
4,001
   
-
   
798
   
4,799
 
Other comprehensive income (loss)
  
-
   
-
   
-
   
-
   
4,678
   
(204
)
  
4,474
 
Sale of common stock through employee stock option and purchase plans
  
32
   
-
   
118
   
-
   
-
   
-
   
118
 
Restricted stock awards vesting and expense
  
19
   
-
   
409
   
-
   
-
   
-
   
409
 
Share-based compensation expense
  
-
   
-
   
574
   
-
   
-
   
-
   
574
 
Other
  
-
   
-
   
(377
)
  
-
   
-
   
377
   
-
 
                             
Balance at July 30, 2017
  
68,547
  
$
685
  
$
545,743
  
$
184,005
  
$
8,849
  
$
115,846
  
$
855,128
 
 
  
Nine Months Ended July 29, 2018
 
  
Photronics, Inc. Shareholders
 
  
Common Stock
  
Additional
        
Accumulated
Other
  
Non-
    
     
Paid-in
  
Retained
  
Treasury
  
Comprehensive
  
controlling
  
Total
 
  
Shares
  
Amount
  
Capital
  
Earnings
  
Stock
  
Income
  
Interests
  
Equity
 
 
                        
Balance at October 30, 2017
  
68,666
  
$
687
  
$
547,596
  
$
189,390
  
$
-
  
$
6,891
  
$
120,731
  
$
865,295
 
                                 
Net income
  
-
   
-
   
-
   
29,568
   
-
   
-
   
14,899
   
44,467
 
Other comprehensive loss
  
-
   
-
   
-
   
-
   
-
   
(2,869
)
  
(2,580
)
  
(5,449
)
Sale of common stock through employee stock option and purchase plans
  
702
   
7
   
3,755
   
-
   
-
   
-
   
-
   
3,762
 
Restricted stock awards vesting and expense
  
137
   
1
   
1,291
   
-
   
-
   
-
   
-
   
1,292
 
Share-based compensation expense
  
-
   
-
   
1,132
   
-
   
-
   
-
   
-
   
1,132
 
Contribution from noncontrolling interest
  
-
   
-
   
148
   
-
   
-
   
-
   
17,849
   
17,997
 
Subsidiary dividend
  
-
   
-
   
-
   
-
   
-
   
-
   
(8,196
)
  
(8,196
)
Purchase of treasury stock
  
-
   
-
   
-
   
-
   
(6,787
)
  
-
   
-
   
(6,787
)
                                 
Balance at July 29, 2018
  
69,505
  
$
695
  
$
553,922
  
$
218,958
  
$
(6,787
)
 
$
4,022
  
$
142,703
  
$
913,513
 
 
  
Nine Months Ended July 30, 2017
 
  
Photronics, Inc. Shareholders
 
  
Common Stock
  
Additional
     
Accumulated
Other
  
Non-
    
     
Paid-in
  
Retained
  
Comprehensive
  
controlling
  
Total
 
  
Shares
  
Amount
  
Capital
  
Earnings
  
Income (Loss)
  
Interests
  
Equity
 
 
                     
Balance at October 31, 2016
  
68,080
  
$
681
  
$
541,093
  
$
176,260
  
$
(7,671
)
 
$
115,111
  
$
825,474
 
                             
Net income
  
-
   
-
   
-
   
7,745
   
-
   
3,048
   
10,793
 
Other comprehensive income
  
-
   
-
   
-
   
-
   
16,520
   
5,692
   
22,212
 
Sale of common stock through employee stock option and purchase plans
  
355
   
3
   
2,187
   
-
   
-
   
-
   
2,190
 
Restricted stock awards vesting and expense
  
112
   
1
   
1,137
   
-
   
-
   
-
   
1,138
 
Share-based compensation expense
  
-
   
-
   
1,703
   
-
   
-
   
-
   
1,703
 
Subsidiary dividend
  
-
   
-
   
-
   
-
   
-
   
(8,382
)
  
(8,382
)
Other
  
-
   
-
   
(377
)
  
-
   
-
   
377
   
-
 
                             
Balance at July 30, 2017
  
68,547
  
$
685
  
$
545,743
  
$
184,005
  
$
8,849
  
$
115,846
  
$
855,128
 
 
Share Repurchase Program

In July 2018, the Company’s Board of Directors authorized the repurchase of up to $20 million of its common stock, to be effectuated in open-market transactions or in accordance with a repurchase plan under rule 10b5-1 of the Securities Act of 1933 (as amended). The share repurchase program commenced on July 10, 2018 and, as of July 29, 2018, we had repurchased 0.8 million shares at a cost of $6.8 million (an average price of $8.72 per share), $0.9 million of which was pending settlement at that date. The number of shares we repurchase is determined by market conditions and our continual evaluation of the optimal use of cash.
 
We record treasury stock purchases under the cost method, and would employ the average cost method (with average cost being determined separately for each share repurchase program), in the event we subsequently reissue shares.