EARNINGS PER SHARE (Tables)

12 Months Ended

Oct. 31, 2020

EARNINGS PER SHARE [Abstract]

Calculation of Basic and Diluted Earnings Per Share

The calculation of basic and diluted earnings per share is presented as follows:

	Year Ended
	October 31, 2020		October 31, 2019		October 31, 2018
Net income attributable to Photronics, Inc. shareholders	$	33,820	$	29,793	$	42,055
Effect of dilutive securities:
Interest expense on convertible notes, net of tax		-		845		1,999
Earnings used for diluted earnings per share	$	33,820	$	30,638	$	44,054
Weighted-average common shares computations:
Weighted-average common shares used for basic earnings per share		64,866		66,347		68,829
Effect of dilutive securities:
Share-based payment awards		604		448		450
Convertible notes		-		2,360		5,542
Potentially dilutive common shares		604		2,808		5,992
Weighted-average common shares used for diluted earnings per share		65,470		69,155		74,821
Basic earnings per share	$	0.52	$	0.45	$	0.61
Diluted earnings per share	$	0.52	$	0.44	$	0.59

Outstanding Securities Excluded from Calculation of Diluted Earnings or Loss Per Share

The table below illustrates the outstanding weighted-average share-based payment awards that were excluded from the calculation of diluted earnings per share because their exercise price exceeded the average market value of the common shares for the period or, under application of the treasury stock method, they were otherwise determined to be antidilutive.

	Year Ended
	October 31, 2020		October 31, 2019		October 31, 2018
Share based payment awards		795		1,250		1,627
Total potentially dilutive shares excluded		795		1,250		1,627