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Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Jul. 31, 2015	Aug. 25, 2015
Document and Entity Information
Entity Registrant Name	TORO CO
Entity Central Index Key	0000737758
Document Type	10-Q
Document Period End Date	Jul. 31, 2015
Amendment Flag	false
Current Fiscal Year End Date	--10-31
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		54,809,131
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q3

Condensed Consolidated Statements of Earnings - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Jul. 31, 2015	Aug. 01, 2014	Jul. 31, 2015	Aug. 01, 2014
Condensed Consolidated Statements of Earnings
Net sales	$ 609,615	$ 567,540	$ 1,910,068	$ 1,758,551
Cost of sales	393,225	365,460	1,242,707	1,128,417
Gross profit	216,390	202,080	667,361	630,134
Selling, general, and administrative expense	136,985	130,043	405,079	386,620
Operating earnings	79,405	72,037	262,282	243,514
Interest expense	(4,587)	(3,629)	(14,071)	(11,065)
Other income, net	2,798	2,390	7,515	6,220
Earnings before income taxes	77,616	70,798	255,726	238,669
Provision for income taxes	24,292	20,785	77,689	75,701
Net earnings	$ 53,324	$ 50,013	$ 178,037	$ 162,968
Basic net earnings per share of common stock (in dollars per share)	$ 0.96	$ 0.89	$ 3.19	$ 2.88
Diluted net earnings per share of common stock (in dollars per share)	$ 0.94	$ 0.87	$ 3.13	$ 2.82
Weighted-average number of shares of common stock outstanding - Basic (in shares)	55,310	55,965	55,739	56,494
Weighted-average number of shares of common stock outstanding - Diluted (in shares)	56,552	57,320	56,953	57,800

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jul. 31, 2015	Aug. 01, 2014	Jul. 31, 2015	Aug. 01, 2014
Condensed Consolidated Statements of Comprehensive Income
Net earnings	$ 53,324	$ 50,013	$ 178,037	$ 162,968
Other comprehensive (loss) income, net of tax:
Foreign currency translation adjustments	(3,534)	(620)	(10,648)	541
Derivative instruments, net of tax of $(379), $531, $(526), and $891, respectively	(1,055)	446	(2,394)	1,036
Other comprehensive (loss) income	(4,589)	(174)	(13,042)	1,577
Comprehensive income	$ 48,735	$ 49,839	$ 164,995	$ 164,545

Condensed Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jul. 31, 2015	Aug. 01, 2014	Jul. 31, 2015	Aug. 01, 2014
Condensed Consolidated Statements of Comprehensive Income
Derivative instruments, tax	$ (379)	$ 531	$ (526)	$ 891

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jul. 31, 2015	Oct. 31, 2014	Aug. 01, 2014
ASSETS
Cash and cash equivalents	$ 110,335	$ 314,873	$ 177,894
Receivables, net	227,806	158,158	215,595
Inventories, net	350,194	274,603	293,761
Prepaid expenses and other current assets	39,743	33,580	33,764
Deferred income taxes	43,339	42,822	38,735
Total current assets	771,417	824,036	759,749
Property, plant, and equipment	802,305	760,192	770,758
Less accumulated depreciation	581,983	554,997	567,930
Property, plant, and equipment, net	220,322	205,195	202,828
Long-term deferred income taxes	26,364	26,075	25,951
Other assets	25,317	21,429	22,226
Goodwill	194,727	91,851	91,812
Other intangible assets, net	121,804	23,829	25,261
Total assets	1,359,951	1,192,415	1,127,827
LIABILITIES AND STOCKHOLDERS' EQUITY
Current portion of long-term debt	23,279	6,640	140
Short-term debt	5,189	20,818	1,134
Accounts payable	169,927	124,271	168,956
Accrued liabilities	300,576	248,691	289,519
Total current liabilities	498,971	400,420	459,749
Long-term debt, less current portion	358,053	347,316	223,800
Deferred revenue	11,324	10,947	11,102
Deferred income taxes	7		5,969
Other long-term liabilities	26,423	25,005	14,474
Stockholders' equity:
Preferred stock, par value $1.00 per share, authorized 1,000,000 voting and 850,000 non-voting shares, none issued and outstanding
Common stock, par value $1.00 per share, authorized 175,000,000 shares; issued and outstanding 54,835,233 shares as of July 31, 2015, 55,705,894 shares as of August 1, 2014, and 55,678,419 shares as of October 31, 2014	54,835	55,678	55,706
Retained earnings	439,085	368,754	368,020
Accumulated other comprehensive loss	(28,747)	(15,705)	(10,993)
Total stockholders' equity	465,173	408,727	412,733
Total liabilities and stockholders' equity	$ 1,359,951	$ 1,192,415	$ 1,127,827

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jul. 31, 2015	Oct. 31, 2014	Aug. 01, 2014
Condensed Consolidated Balance Sheets
Preferred stock, par value (in dollars per share)	$ 1.00	$ 1.00	$ 1.00
Preferred stock, authorized voting shares	1,000,000	1,000,000	1,000,000
Preferred stock, authorized non-voting shares	850,000	850,000	850,000
Preferred stock, issued voting shares	0	0	0
Preferred stock, issued non-voting shares	0	0	0
Preferred stock, outstanding voting shares	0	0	0
Preferred stock, outstanding non-voting shares	0	0	0
Common stock, par value (in dollars per share)	$ 1.00	$ 1.00	$ 1.00
Common stock, authorized shares	175,000,000	175,000,000	175,000,000
Common stock, issued shares	54,835,233	55,678,419	55,705,894
Common stock, outstanding shares	54,835,233	55,678,419	55,705,894

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Jul. 31, 2015	Aug. 01, 2014
Cash flows from operating activities:
Net earnings	$ 178,037	$ 162,968
Adjustments to reconcile net earnings to net cash provided by operating activities:
Non-cash income from finance affiliate	(6,223)	(5,598)
Provision for depreciation, amortization, and impairment loss	45,944	38,104
Stock-based compensation expense	7,815	8,478
Increase in deferred income taxes	(2,096)	(43)
Other	(67)	2
Changes in operating assets and liabilities, net of effect of acquisitions:
Receivables, net	(74,916)	(59,774)
Inventories, net	(67,902)	(53,716)
Prepaid expenses and other assets	(5,563)	1,167
Accounts payable, accrued liabilities, deferred revenue, and other long-term liabilities	92,985	72,625
Net cash provided by operating activities	168,014	164,213
Cash flows from investing activities:
Purchases of property, plant, and equipment	(37,544)	(53,228)
Proceeds from asset disposals	77	161
Distributions from finance affiliate, net	1,928	2,324
Acquisitions, net of cash acquired	(198,329)	(715)
Net cash used in investing activities	(233,868)	(51,458)
Cash flows from financing activities:
(Repayments of) increase in short-term debt	(16,283)	300
(Repayments of) increase in long-term debt	(3,831)	18
Excess tax benefits from stock-based awards	7,808	8,536
Proceeds from exercise of stock options	8,615	6,813
Purchases of Toro common stock	(90,993)	(100,507)
Dividends paid on Toro common stock	(41,794)	(33,871)
Net cash used in financing activities	(136,478)	(118,711)
Effect of exchange rates on cash and cash equivalents	(2,206)	857
Net decrease in cash and cash equivalents	(204,538)	(5,099)
Cash and cash equivalents as of the beginning of the fiscal period	314,873	182,993
Cash and cash equivalents as of the end of the fiscal period	110,335	$ 177,894
Supplemental disclosure of cash flow information:
Debt issued in connection with an acquisition	$ 31,161

Basis of Presentation	9 Months Ended
Basis of Presentation	Jul. 31, 2015
Basis of Presentation
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q and do not include all the information and notes required by U.S. generally accepted accounting principles (“U.S. GAAP”) for complete financial statements. Unless the context indicates otherwise, the terms “company” and “Toro” refer to The Toro Company and its consolidated subsidiaries. In the opinion of management, the unaudited condensed consolidated financial statements include all adjustments, consisting primarily of recurring accruals, considered necessary for a fair presentation of the financial position and results of operations. Since the company’s business is seasonal, operating results for the nine months ended July 31, 2015 cannot be annualized to determine the expected results for the fiscal year ending October 31, 2015. The company’s fiscal year ends on October 31, and quarterly results are reported based on three-month periods that generally end on the Friday closest to the quarter end. For comparative purposes, however, the company’s second and third quarters always include exactly 13 weeks of results so that the quarter end date for these two quarters is not necessarily the Friday closest to the calendar month end. For further information, refer to the consolidated financial statements and notes included in the company’s Annual Report on Form 10-K for the fiscal year ended October 31, 2014. The policies described in that report are used for preparing quarterly reports.

Accounting Policies	9 Months Ended
Accounting Policies	Jul. 31, 2015
Accounting Policies
Accounting Policies	Accounting Policies In preparing the consolidated financial statements in conformity with U.S. GAAP, management must make decisions that impact the reported amounts of assets, liabilities, revenues, expenses, and the related disclosures, including disclosures of contingent assets and liabilities. Such decisions include the selection of the appropriate accounting principles to be applied and the assumptions on which to base accounting estimates. Estimates are used in determining, among other items, sales promotions and incentives accruals, incentive compensation accruals, inventory valuation, warranty reserves, earn-out liabilities, allowance for doubtful accounts, pension and postretirement accruals, self-insurance accruals, useful lives for tangible and intangible assets, and future cash flows associated with impairment testing for goodwill and other long-lived assets. These estimates and assumptions are based on management’s best estimates and judgments at the time they are made. Management evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors that management believes to be reasonable under the circumstances, including the current economic environment. Management adjusts such estimates and assumptions when facts and circumstances dictate. As future events and their effects cannot be determined with certainty, actual amounts could differ significantly from those estimated at the time the consolidated financial statements are prepared. Changes in those estimates will be reflected in the consolidated financial statements in future periods.

Acquisition

9 Months Ended

Jul. 31, 2015

Acquisition

Acquisition

On November 14, 2014, during the first quarter of fiscal 2015, the company acquired substantially all of the assets (excluding accounts receivable) of the BOSS® professional snow and ice management business of privately held Northern Star Industries, Inc. Based in Iron Mountain, Michigan, BOSS designs, manufactures, and sells a broad line of snowplows, salt and sand spreaders, and related parts and accessories for light and medium duty trucks, all terrain vehicles (“ATVs”), utility terrain vehicles (“UTVs”), skid steers, and front-end loaders. Through this acquisition, the company added another professional contractor brand; a portfolio of counter-seasonal equipment; manufacturing and distribution facilities located in Iron Mountain, Michigan; and a distribution network for these products. Management believes that this acquisition positions the company to strengthen and grow its relationships with professional contractors, municipalities, and other customers by enabling the company to provide them with the innovative, durable equipment and high-quality service they need each season.

The purchase price of this acquisition was $229.5 million, which included a cash payment of $198.3 million and issuance of a note payable at fair value of $31.2 million. The company funded the acquisition with cash on hand, a $130.0 million term loan, and short-term debt under the company’s revolving credit facility.

The purchase price of this acquisition was accounted for as a business combination using the acquisition method, which requires that, among other things, assets acquired and liabilities assumed, be recorded at their fair value as of the acquisition date using independent appraisals and other analyses. The excess of the consideration transferred over those fair values is recorded as goodwill. The following table presents the allocation of the purchase price to the acquired assets, liabilities, and goodwill.

	July 31,
(Dollars in thousands)	2015
Inventory	$	14,106
Prepaid expenses	266
Property, plant, and equipment	13,689
Intangible assets	107,700
Goodwill	103,028
Current liabilities	(9,299		)

Purchase price	$	229,490

The goodwill recorded as part of the acquisition primarily reflects the value of the assembled workforce, cost synergies, expected future cash flows, and sales growth from integrating and expanding existing product lines. The amount of goodwill that is expected to be deductible for income tax purposes is $101.9 million. The goodwill and intangible assets have been allocated to the Professional segment.

During the first nine months of fiscal 2015, the company expensed $0.3 million of acquisition-related costs, which was recorded in selling, general, and administrative expense. The company also capitalized $0.4 million of debt issuance costs in other assets related to the $130.0 million term loan, which will be amortized over the term of the loan.

Operating results for this acquisition have been included in the company’s consolidated statements of earnings from the date of acquisition and are reflected in the Professional segment. The sale of BOSS products contributed $37.1 million and $82.4 million of net sales for the third quarter and year-to-date periods of fiscal 2015, respectively, and had an immaterial impact on net earnings for both the third quarter and year-to-date periods of fiscal 2015. Pro-forma results are not presented, as the acquisition was not considered material to the company’s consolidated results of operations.

- Definition

The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable).

+ References

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+ Details

Stock-Based Compensation

9 Months Ended

Jul. 31, 2015

Stock-Based Compensation

Stock-Based Compensation

Stock Option Awards

Under the company’s amended and restated equity and incentive plan, stock options are granted with an exercise price equal to the closing price of the company’s common stock on the date of grant, as reported by the New York Stock Exchange. Options are generally granted to executive officers, other employees, and non-employee members of the company’s Board of Directors on an annual basis in the first quarter of the company’s fiscal year. Options generally vest one-third each year over a three-year period and have a ten-year term. Other options granted to certain non-officer employees vest in full on the three-year anniversary of the date of grant and have a ten-year term. Compensation expense equal to the grant date fair value is generally recognized for these awards over the vesting period. Stock options granted to officers and other employees are subject to accelerated expensing if the option holder meets the retirement definition set forth in the company’s amended and restated equity and incentive plan. In that case, the fair value of the options is expensed in the fiscal year of grant because the option holder must be employed as of the end of the fiscal year in which the options are granted in order for the options to continue to vest following retirement. Similarly, if a non-employee director has served on the company’s Board of Directors for ten full fiscal years or more, the awards vest immediately upon retirement, and therefore, the fair value of the options granted is fully expensed on the date of the grant.

The fair value of each stock option is estimated on the date of grant using the Black-Scholes valuation method with the assumptions noted in the table below. The expected life is a significant assumption as it determines the period for which the risk-free interest rate, volatility, and dividend yield must be applied. The expected life is the average length of time in which officers, other employees, and non-employee directors are expected to exercise their stock options, which is primarily based on historical experience. Separate groups of employees that have similar historical exercise behavior are considered separately for valuation purposes. Expected volatilities are based on the movement of the company’s common stock over the most recent historical period equivalent to the expected life of the option. The risk-free interest rate for periods within the contractual life of the option is based on the U.S. Treasury rate over the expected life at the time of grant. Dividend yield is estimated over the expected life based on the company’s historical cash dividends paid, expected future cash dividends and dividend yield, and expected changes in the company’s stock price.

The following table illustrates the assumptions for options granted in the following fiscal periods.

	Fiscal 2015	Fiscal 2014
Expected life of option in years	5.94	6
Expected stock price volatility	29.67%	34.29%
Risk-free interest rate	1.61%	1.92%
Expected dividend yield	1.29%	1.25%
Grant date per share weighted-average fair value	$16.81	$18.69

Performance Share Awards

The company grants performance share awards to executive officers and other employees under which they are entitled to receive shares of the company’s common stock contingent on the achievement of performance goals of the company and businesses of the company, which are generally measured over a three-year period. The number of shares of common stock a participant receives will be increased (up to 200 percent of target levels) or reduced (down to zero) based on the level of achievement of performance goals and vest at the end of a three-year period. Performance share awards are generally granted on an annual basis in the first quarter of the company’s fiscal year. Compensation expense is recognized for these awards on a straight-line basis over the vesting period based on the per share fair value as of the date of grant and the probability of achieving each performance goal. The per share fair value of performance share awards granted during the first quarter of each of fiscal 2015 and 2014 was $65.68 and $60.19, respectively. No performance share awards were granted during the second and third quarters of fiscal 2015 or 2014.

Restricted Stock and Restricted Stock Unit Awards

Under the company’s amended and restated equity and incentive plan, restricted stock and restricted stock unit awards are generally granted to certain non-officer employees. Occasionally, restricted stock or restricted stock unit awards may be granted, including to executive officers, in connection with hiring, mid-year promotions, leadership transition, or retention. Restricted stock and restricted stock unit awards generally vest one-third each year over a three-year period, or vest in full on the three-year anniversary of the date of grant. Such awards may have performance-based rather than time-based vesting requirements. Compensation expense equal to the grant date fair value, which is equal to the closing price of the company’s common stock on the date of grant multiplied by the number of shares subject to the restricted stock and restricted stock unit awards, is recognized for these awards over the vesting period. The per share weighted-average fair value of restricted stock and restricted stock unit awards granted during the first nine months of fiscal 2015 and 2014 was $66.10 and $63.09, respectively.

Per Share Data

9 Months Ended

Jul. 31, 2015

Per Share Data

Per Share Data

Reconciliations of basic and diluted weighted-average shares of common stock outstanding are as follows:

	Three Months Ended		Nine Months Ended
	July 31,	August 1,	July 31,	August 1,
(Shares in thousands)	2015	2014	2015	2014
Basic
Weighted-average number of shares of common stock	55,310	55,965	55,724	56,477
Assumed issuance of contingent shares	—	—	15	17

Weighted-average number of shares of common stock and assumed issuance of contingent shares	55,310	55,965	55,739	56,494

Diluted
Weighted-average number of shares of common stock and assumed issuance of contingent shares	55,310	55,965	55,739	56,494
Effect of dilutive securities	1,242	1,355	1,214	1,306

Weighted-average number of shares of common stock, assumed issuance of contingent shares, and effect of dilutive securities	56,552	57,320	56,953	57,800

Incremental shares from options, restricted stock, and restricted stock units are computed by the treasury stock method. Options for the purchase of 157,299 and 153,651 shares of common stock during the third quarter of fiscal 2015 and 2014, respectively, were excluded from the diluted net earnings per share because they were anti-dilutive. For the year-to-date periods through the third quarter of fiscal 2015 and 2014, options for the purchase of 245,818 and 239,058 shares of common stock, respectively, were excluded from the diluted net earnings per share because they were anti-dilutive.

Inventories

9 Months Ended

Jul. 31, 2015

Inventories

Inventories

Inventories are valued at the lower of cost or net realizable value, with cost determined by the last-in, first-out (“LIFO”) method for most inventories and first-in, first-out (“FIFO”) method for all other inventories. The company establishes a reserve for excess, slow-moving, and obsolete inventory that is equal to the difference between the cost and estimated net realizable value for that inventory. These reserves are based on a review and comparison of current inventory levels to the planned production, as well as planned and historical sales of the inventory.

Inventories were as follows:

	July 31,		August 1,		October 31,
(Dollars in thousands)	2015		2014		2014
Raw materials and work in process	$	102,580	$	88,140	$	95,144
Finished goods and service parts	315,110		270,996		246,954

Total FIFO value	417,690		359,136		342,098
Less: adjustment to LIFO value	67,496		65,375		67,495

Total	$	350,194	$	293,761	$	274,603

Goodwill

9 Months Ended

Jul. 31, 2015

Goodwill.

Goodwill

The changes in the net carrying amount of goodwill for the first nine months of fiscal 2015 were as follows:

	Professional			Residential
(Dollars in thousands)	Segment			Segment			Total
Balance as of October 31, 2014	$	80,946		$	10,905		$	91,851
Goodwill acquired	103,028			—			103,028
Translation adjustments	(46		)	(106		)	(152		)

Balance as of July 31, 2015	$	183,928		$	10,799		$	194,727

Other Intangible Assets

9 Months Ended

Jul. 31, 2015

Other Intangible Assets

Other Intangible Assets

The components of other intangible assets were as follows:

(Dollars in thousands) July 31, 2015	Weighted-average Life (Years)	Gross Carrying Amount		Accumulated Amortization			Net
Patents	9.9	$	15,202	$	(10,003	)	$	5,199
Non-compete agreements	5.5	6,931		(6,071		)	860
Customer-related	19.1	84,618		(9,156		)	75,462
Developed technology	7.6	28,819		(19,704		)	9,115
Trade names	19.2	28,715		(2,410		)	26,305
Other		800		(800		)	—

Total amortizable		165,085		(48,144		)	116,941
Non-amortizable - trade names		4,863		—			4,863

Total other intangible assets, net		$	169,948	$	(48,144	)	$	121,804

October 31, 2014	Weighted-average Life (Years)	Gross Carrying Amount		Accumulated Amortization			Net
Patents	9.4	$	10,711	$	(8,942	)	$	1,769
Non-compete agreements	5.4	7,039		(5,315		)	1,724
Customer-related	10.7	8,650		(5,517		)	3,133
Developed technology	7.6	28,841		(16,869		)	11,972
Trade names	5.0	1,515		(1,165		)	350
Other		800		(800		)	—

Total amortizable		57,556		(38,608		)	18,948
Non-amortizable - trade names		4,881		—			4,881

Total other intangible assets, net		$	62,437	$	(38,608	)	$	23,829

During the second quarter of fiscal 2015, the company determined certain amortizable intangible assets were impaired based on its assessment that the carrying amount may not be recovered. Based on the company’s impairment analysis, the company wrote down $1.4 million of other intangible assets in the second quarter of fiscal 2015.

Amortization expense for intangible assets during the first nine months of fiscal 2015 was $10.0 million. Estimated amortization expense for the remainder of fiscal 2015 and succeeding fiscal years is as follows: fiscal 2015 (remainder), $2.8 million; fiscal 2016, $10.3 million; fiscal 2017, $9.5 million; fiscal 2018, $7.4 million; fiscal 2019, $6.6 million; and after fiscal 2019, $80.3 million.

Investment in Joint Venture	9 Months Ended
Investment in Joint Venture	Jul. 31, 2015
Investment in Joint Venture
Investment in Joint Venture	Investment in Joint Venture In fiscal 2009, the company and TCF Inventory Finance, Inc. (“TCFIF”), a subsidiary of TCF National Bank, established Red Iron Acceptance, LLC (“Red Iron”), a joint venture in the form of a Delaware limited liability company that provides inventory financing, including floor plan and open account receivable financing, to distributors and dealers of the company’s products in the U.S. and to select distributors of the company’s products in Canada. The initial term of Red Iron will continue until October 31, 2017, subject to unlimited automatic two-year extensions thereafter. Either the company or TCFIF may elect not to extend the initial term or any subsequent term by giving one-year notice to the other party. Additionally, in connection with the joint venture, the company and an affiliate of TCFIF entered into an arrangement to provide inventory financing to dealers of the company’s products in Canada. The company owns 45 percent of Red Iron and TCFIF owns 55 percent of Red Iron. The company accounts for its investment in Red Iron under the equity method of accounting. Each of the company and TCFIF contributed a specified amount of the estimated cash required to enable Red Iron to purchase the company’s inventory financing receivables and to provide financial support for Red Iron’s inventory financing programs. Red Iron borrows the remaining requisite estimated cash utilizing a $450 million secured revolving credit facility established under a credit agreement between Red Iron and TCFIF. The company’s total investment in Red Iron as of July 31, 2015 was $19.2 million. The company has not guaranteed the outstanding indebtedness of Red Iron. The company has agreed to repurchase products repossessed by Red Iron and the TCFIF Canadian affiliate, up to a maximum aggregate amount of $7.5 million in a calendar year. In addition, the company has provided recourse to Red Iron for certain outstanding receivables, which amounted to a maximum amount of $0.7 million as of July 31, 2015. Under the repurchase agreement between Red Iron and the company, Red Iron provides financing for certain dealers and distributors. These transactions are structured as an advance in the form of a payment by Red Iron to the company on behalf of a distributor or dealer with respect to invoices financed by Red Iron. These payments extinguish the obligation of the dealer or distributor to make payment to the company under the terms of the applicable invoice. Under separate agreements between Red Iron and the dealers and distributors, Red Iron provides loans to the dealers and distributors for the advances paid by Red Iron to the company. The net amount of new receivables financed for dealers and distributors under this arrangement for the nine months ended July 31, 2015 and August 1, 2014 was $1,117.7 million and $1,019.3 million, respectively. As of July 31, 2015, Red Iron’s total assets were $383.7 million and total liabilities were $340.3 million.

Warranty Guarantees

9 Months Ended

Jul. 31, 2015

Warranty Guarantees

Warranty Guarantees

The company’s products are warranted to ensure customer confidence in design, workmanship, and overall quality. Warranty coverage is for specified periods of time and on select products’ hours of usage, and generally covers parts, labor, and other expenses for non-maintenance repairs. Warranty coverage generally does not cover operator abuse or improper use. An authorized company distributor or dealer must perform warranty work. Distributors and dealers submit claims for warranty reimbursement and are credited for the cost of repairs, labor, and other expenses as long as the repairs meet prescribed standards. Warranty expense is accrued at the time of sale based on the estimated number of products under warranty, historical average costs incurred to service warranty claims, the trend in the historical ratio of claims to sales, the historical length of time between the sale and resulting warranty claim, and other minor factors. Special warranty reserves are also accrued for major rework campaigns. The company sells extended warranty coverage on select products for a prescribed period after the factory warranty period expires.

Warranty provisions, claims, and changes in estimates for the first nine months of fiscal 2015 and 2014 were as follows:

	Nine Months Ended
	July 31,			August 1,
(Dollars in thousands)	2015			2014
Beginning balance	$	71,080		$	72,177
Warranty provisions	34,532			34,078
Warranty claims	(26,728		)	(25,052		)
Changes in estimates	(221		)	(1,510		)

Ending balance	$	78,663		$	79,693

Stockholders' Equity

9 Months Ended

Jul. 31, 2015

Stockholders' Equity

Stockholders' Equity

Stockholders’ Equity

Accumulated Other Comprehensive Loss

Components of accumulated other comprehensive loss (“AOCL”), net of tax, are as follows:

	July 31,		August 1,		October 31,
(Dollars in thousands)	2015		2014		2014
Foreign currency translation adjustments	$	23,255	$	7,166	$	12,536
Pension and post-retirement benefits	5,195		3,754		5,266
Derivative instruments	297		73		(2,097		)

Total accumulated other comprehensive loss	$	28,747	$	10,993	$	15,705

The components and activity of AOCL for the first nine months of fiscal 2015 are as follows:

(Dollars in thousands)	Foreign Currency Translation Adjustments		Pension and Postretirement Benefits			Cash Flow Derivative Instruments			Total
Balance as of October 31, 2014	$	12,536	$	5,266		$	(2,097	)	$	15,705
Other comprehensive loss (income) before reclassifications	10,719		(71		)	(6,694		)	3,954
Amounts reclassified from AOCL	—		—			9,088			9,088

Net current period other comprehensive loss (income)	$	10,719	$	(71	)	$	2,394		$	13,042

Balance as of July 31, 2015	$	23,255	$	5,195		$	297		$	28,747

The components and activity of AOCL for the first nine months of fiscal 2014 are as follows:

(Dollars in thousands)	Foreign Currency Translation Adjustments			Pension and Postretirement Benefits		Cash Flow Derivative Instruments			Total
Balance as of October 31, 2013	$	7,778		$	3,683	$	1,109		$	12,570
Other comprehensive (income) loss before reclassifications	(612		)	71		450			(91		)
Amounts reclassified from AOCL	—			—		(1,486		)	(1,486		)

Net current period other comprehensive (income) loss	$	(612	)	$	71	$	(1,036	)	$	(1,577	)

Balance as of August 1, 2014	$	7,166		$	3,754	$	73		$	10,993

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

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Reference 15: http://www.xbrl.org/2003/role/presentationRef
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+ Details

Segment Data

9 Months Ended

Jul. 31, 2015

Segment Data

Segment Data

The presentation of segment information reflects the manner in which management organizes segments for making operating decisions and assessing performance. On this basis, the company has determined it has three reportable business segments: Professional, Residential, and Distribution. The Distribution segment, which consists of company-owned domestic distributorships, has been combined with the company’s corporate activities and elimination of intersegment revenues and expenses that is shown as “Other” in the following tables due to the insignificance of the segment.

The following table shows the summarized financial information concerning the company’s reportable segments:

(Dollars in thousands)
Three months ended July 31, 2015	Professional		Residential		Other			Total
Net sales	$	421,994	$	175,977	$	11,644		$	609,615
Intersegment gross sales	10,365		222		(10,587		)	—
Earnings (loss) before income taxes	82,253		20,566		(25,203		)	77,616

Three months ended August 1, 2014	Professional		Residential		Other			Total
Net sales	$	384,678	$	175,717	$	7,145		$	567,540
Intersegment gross sales	11,964		128		(12,092		)	—
Earnings (loss) before income taxes	74,835		18,698		(22,735		)	70,798

Nine months ended July 31, 2015	Professional		Residential		Other			Total
Net sales	$	1,314,474	$	578,587	$	17,007		$	1,910,068
Intersegment gross sales	38,651		410		(39,061		)	—
Earnings (loss) before income taxes	258,727		69,131		(72,132		)	255,726
Total assets	846,400		226,835		286,716			1,359,951

Nine months ended August 1, 2014	Professional		Residential		Other			Total
Net sales	$	1,208,707	$	533,664	$	16,180		$	1,758,551
Intersegment gross sales	31,878		378		(32,256		)	—
Earnings (loss) before income taxes	244,665		60,654		(66,650		)	238,669
Total assets	616,305		186,079		325,443			1,127,827

The following table summarizes the components of the loss before income taxes included in “Other” shown above:

	Three Months Ended						Nine Months Ended
	July 31,			August 1,			July 31,			August 1,
(Dollars in thousands)	2015			2014			2015			2014
Corporate expenses	$	(26,989	)	$	(22,101	)	$	(68,434	)	$	(62,448	)
Interest expense, net	(4,587		)	(3,629		)	(14,071		)	(11,065		)
Other	6,373			2,995			10,373			6,863

Total	$	(25,203	)	$	(22,735	)	$	(72,132	)	$	(66,650	)

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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+ Details

Derivative Instruments and Hedging Activities

9 Months Ended

Jul. 31, 2015

Derivative Instruments and Hedging Activities

Derivative Instruments and Hedging Activities

The company is exposed to foreign currency exchange rate risk arising from transactions in the normal course of business, such as sales to third party customers, sales and loans to wholly owned foreign subsidiaries, foreign plant operations, and purchases from suppliers. The company actively manages the exposure of its foreign currency exchange rate market risk by entering into various hedging instruments, authorized under company policies that place controls on these activities, with counterparties that are highly rated financial institutions. The company’s hedging activities primarily involve the use of forward currency contracts, as well as cross currency swaps that are intended to offset intercompany loan exposures. The company uses derivative instruments only in an attempt to limit underlying exposure from foreign currency exchange rate fluctuations and to minimize earnings and cash flow volatility associated with foreign currency exchange rate changes. Decisions on whether to use such contracts are primarily based on the amount of exposure to the currency involved and an assessment of the near-term market value for each currency. The company’s policy does not allow the use of derivatives for trading or speculative purposes. The company also made an accounting policy election to use the portfolio exception with respect to measuring counterparty credit risk for derivative instruments, and to measure the fair value of a portfolio of financial assets and financial liabilities on the basis of the net open risk position with each counterparty. The company’s primary currency exchange rate exposures are with the Euro, the Australian dollar, the Canadian dollar, the British pound, the Mexican peso, the Japanese yen, the Chinese Renminbi, and the Romanian New Leu against the U.S. dollar, as well as the Romanian New Leu against the Euro.

Cash flow hedges. The company recognizes all derivative instruments as either assets or liabilities at fair value on the consolidated balance sheet and formally documents relationships between cash flow hedging instruments and hedged transactions, as well as its risk-management objective and strategy for undertaking hedge transactions. This process includes linking all derivatives to the forecasted transactions, such as sales to third parties and foreign plant operations. Changes in fair values of outstanding cash flow hedge derivatives, except the ineffective portion, are recorded in other comprehensive income (“OCI”), until net earnings is affected by the variability of cash flows of the hedged transaction. Gains and losses on the derivative representing either hedge ineffectiveness or hedge components excluded from the assessment of effectiveness are recognized in net earnings. The consolidated statements of earnings classification of effective hedge results is the same as that of the underlying exposure. Results of hedges of sales and foreign plant operations are recorded in net sales and cost of sales, respectively, when the underlying hedged transaction affects net earnings. The maximum amount of time the company hedges its exposure to the variability in future cash flows for forecasted trade sales and purchases is two years. Results of hedges of intercompany loans are recorded in other income, net as an offset to the remeasurement of the foreign loan balance.

The company formally assesses, at a hedge’s inception and on an ongoing basis, whether the derivatives that are designated as hedges have been highly effective in offsetting changes in the cash flows of the hedged transactions and whether those derivatives may be expected to remain highly effective in future periods. When it is determined that a derivative is not, or has ceased to be, highly effective as a hedge, the company discontinues hedge accounting prospectively. When the company discontinues hedge accounting because it is no longer probable, but it is still reasonably possible that the forecasted transaction will occur by the end of the originally expected period or within an additional two-month period of time thereafter, the gain or loss on the derivative remains in AOCL and is reclassified to net earnings when the forecasted transaction affects net earnings. However, if it is probable that a forecasted transaction will not occur by the end of the originally specified time period or within an additional two-month period of time thereafter, the gains and losses that were in AOCL are recognized immediately in net earnings. In all situations in which hedge accounting is discontinued and the derivative remains outstanding, the company carries the derivative at its fair value on the consolidated balance sheets, recognizing future changes in the fair value in other income, net. For the third quarter and year-to-date periods of fiscal 2015, there were immaterial losses on contracts reclassified into earnings as a result of the discontinuance of cash flow hedges. As of July 31, 2015 and August 1, 2014, the notional amount outstanding of forward contracts designated as cash flow hedges was $102.8 million and $108.6 million, respectively. Additionally, as of July 31, 2015 and August 1, 2014, the company had one cross currency interest rate swap instrument outstanding for a fixed pay notional of 36.6 million Romanian New Leu and receive floating notional of 8.5 million Euros.

Derivatives not designated as hedging instruments. The company also enters into foreign currency contracts that include forward currency contracts and cross currency swaps to mitigate the remeasurement of specific assets and liabilities on the consolidated balance sheet. These contracts are not designated as hedging instruments. Accordingly, changes in the fair value of hedges of recorded balance sheet positions, such as cash, receivables, payables, intercompany notes, and other various contractual claims to pay or receive foreign currencies other than the functional currency, are recognized immediately in other income, net, on the consolidated statements of earnings together with the transaction gain or loss from the hedged balance sheet position.

The following table presents the fair value of the company’s derivatives and consolidated balance sheet location.

Asset Derivatives

Liability Derivatives

July 31, 2015

August 1, 2014

July 31, 2015

August 1, 2014

Balance

Sheet

Fair

Sheet

Fair

Sheet

Fair

Sheet

Fair

(Dollars in thousands)

Location

Value

Location

Value

Location

Value

Location

Value

Derivatives Designated as Hedging Instruments

Forward currency contracts

Prepaid expenses

2,957

Prepaid expenses

1,263

Accrued liabilities

1,986

Accrued liabilities

Cross currency contract

Prepaid expenses

—

Prepaid expenses

—

Accrued liabilities

243

Accrued liabilities

701

Derivatives Not Designated as Hedging Instruments

Forward currency contracts

Prepaid expenses

2,663

Prepaid expenses

261

Accrued liabilities

412

Cross currency contract

Prepaid expenses

2,179

Prepaid expenses

Accrued liabilities

—

Accrued liabilities

—

Total Derivatives

7,799

1,585

2,231

1,175

The following table presents the impact of derivative instruments on the consolidated statements of earnings for the company’s derivatives designated as cash flow hedging instruments for the three and nine months ended July 31, 2015 and August 1, 2014, respectively.

														Location of Gain (Loss)	Gain (Loss)
							Location of Gain							Recognized in Income	Recognized in Income
	Gain (Loss)						(Loss) Reclassified	Gain (Loss)						on Derivatives	on Derivatives
	Recognized in OCI on						from AOCL	Reclassified from						(Ineffective Portion	(Ineffective Portion and
	Derivatives						into Income	AOCL into Income						and excluded from	Excluded from
	(Effective Portion)						(Effective Portion)	(Effective Portion)						Effectiveness Testing)	Effectiveness Testing)
(Dollars in thousands)	July 31,			August 1,				July 31,			August 1,				July 31,		August 1,
For the three months ended	2015			2014				2015			2014				2015		2014
Forward currency contracts	$	(654	)	$	952		Net sales	$	3,258		$	(369	)	Other income, net	$	280	$	(63	)

Forward currency contracts	(433		)	(216		)	Cost of sales	(817		)	61
Cross currency contracts	31			(292		)	Other income, net	(85		)	(212		)

Total	$	(1,056	)	$	444			$	2,356		$	(520	)

	July 31,			August 1,				July 31,			August 1,				July 31,		August 1,
For the nine months ended	2015			2014				2015			2014				2015		2014
Forward currency contracts	$	(950	)	$	1,694		Net sales	$	11,188		$	(1,140	)	Other income, net	$	563	$	(204	)

Forward currency contracts	(1,615		)	(333		)	Cost of sales	(1,808		)	93
Cross currency contracts	167			(330		)	Other income, net	(292		)	(439		)

Total	$	(2,398	)	$	1,031			$	9,088		$	(1,486	)

As of July 31, 2015, the company expects to reclassify approximately $0.8 million of gains from AOCL to earnings during the next twelve months.

The following table presents the impact of derivative instruments on the consolidated statements of earnings for the company’s derivatives not designated as hedging instruments.

		Gain (Loss) Recognized in Net Earnings
		Three Months Ended					Nine Months Ended
	Location of Gain (Loss)	July 31,			August 1,		July 31,		August 1,
(Dollars in thousands)	Recognized in Net Earnings	2015			2014		2015		2014
Forward currency contracts	Other income, net	$	(2,891	)	$	2,474	$	8,459	$	(553	)
Cross currency contracts	Other income, net	139			421		1,441		181

		$	(2,752	)	$	2,895	$	9,900	$	(372	)

The company entered into an International Swap Dealers Association (“ISDA”) Master Agreement with each counterparty that permits the net settlement of amounts owed under their respective contracts. The ISDA Master Agreement is an industry standardized contract that governs all derivative contracts entered into between the company and the respective counterparty. Under these master netting agreements, net settlement generally permits the company or the counterparty to determine the net amount payable or receivable for contracts due on the same date or in the same currency for similar types of derivative transactions. The company records the fair value of its derivative contracts at the net amount in its consolidated balance sheets.

The following tables show the effects of the master netting arrangements on the fair value of the company’s derivative contracts that are recorded in the consolidated balance sheets:

	Assets							Liabilities
	Gross Amounts		Gross Liabilities			Net Amounts		Gross Amounts			Gross Assets		Net Amounts of
(Dollars in thousands)	of Recognized		Offset in the			of Assets Presented		of Recognized			offset in the		Liabilities Presented
July 31, 2015	Assets		Balance Sheet			in the Balance Sheet		Liabilities			Balance Sheet		in the Balance Sheet
Forward currency contracts	$	5,855	$	(235	)	$	5,620	$	(2,220	)	$	232	$	(1,988	)
Cross currency contracts	2,179		—			2,179		(243		)	—		(243		)

	$	8,034	$	(235	)	$	7,799	$	(2,463	)	$	232	$	(2,231	)

	Assets							Liabilities
	Gross Amounts		Gross Liabilities			Net Amounts		Gross Amounts			Gross Assets		Net Amounts of
(Dollars in thousands)	of Recognized		Offset in the			of Assets Presented		of Recognized			offset in the		Liabilities Presented
August 1, 2014	Assets		Balance Sheet			in the Balance Sheet		Liabilities			Balance Sheet		in the Balance Sheet
Forward currency contracts	$	1,572	$	(48	)	$	1,524	$	(560	)	$	86	$	(474	)
Cross currency contracts	61		—			61		(701		)	—		(701		)

	$	1,633	$	(48	)	$	1,585	$	(1,261	)	$	86	$	(1,175	)

- Definition

The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 30
-Section 45
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6441202&loc=d3e80720-113993

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5624171-113959

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
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-Paragraph 2
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
-URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5624163-113959

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5579240-113959

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4D
-URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5624177-113959

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 30
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=35736893&loc=d3e80784-113994

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
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-URI http://asc.fasb.org/extlink&oid=56946850&loc=d3e41641-113959

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5579245-113959

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
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Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 30
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-Paragraph 1
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Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
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-Paragraph 4J
-URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5708773-113959

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-Paragraph 4A
-URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5618551-113959

Reference 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
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-Section 50
-Paragraph 1B
-URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5580258-113959

Reference 16: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
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-URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5624181-113959

Reference 17: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
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-Topic 815
-SubTopic 25
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6886632&loc=d3e76258-113986

Reference 18: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
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-URI http://asc.fasb.org/extlink&oid=56946850&loc=d3e41638-113959

Reference 19: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(n))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

+ Details

Fair Value Measurements

9 Months Ended

Jul. 31, 2015

Fair Value Measurements

Fair Value Measurements

The company categorizes its assets and liabilities into one of three levels based on the assumptions (inputs) used in valuing the asset or liability. Estimates of fair value for financial assets and financial liabilities are based on the framework established in the accounting guidance for fair value measurements. The framework defines fair value, provides guidance for measuring fair value, and requires certain disclosures. The framework discusses valuation techniques such as the market approach (comparable market prices), the income approach (present value of future income or cash flow), and the cost approach (cost to replace the service capacity of an asset or replacement cost). The framework utilizes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. Level 1 provides the most reliable measure of fair value, while Level 3 generally requires significant management judgment. The three levels are defined as follows:

Level 1 — Unadjusted quoted prices in active markets for identical assets or liabilities.

Level 2 — Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical assets or liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.

Level 3 — Unobservable inputs reflecting management’s assumptions about the inputs used in pricing the asset or liability.

Cash balances are valued at their carrying amounts in the consolidated balance sheets, which are reasonable estimates of their fair value due to their short-term nature. Forward currency contracts are valued based on observable market transactions of forward currency prices and spot currency rates as of the reporting date. The fair value of cross currency contracts is determined using discounted cash flow analysis on the expected cash flows of each derivative. This analysis reflects the contractual terms of the derivatives, including the period to maturity, and uses observable market-based inputs such as interest rates and foreign currency exchange rates. In addition, credit valuation adjustments, which consider the impact of any credit enhancements to the contracts, such as collateral postings, thresholds, mutual puts, and guarantees, are incorporated in the fair values to account for potential nonperformance risk. The unfunded deferred compensation liability is primarily subject to changes in fixed-income investment contracts based on current yields. For accounts receivable and accounts payable, carrying amounts are a reasonable estimate of fair value given their short-term nature.

Assets and liabilities measured at fair value on a recurring basis, as of July 31, 2015, August 1, 2014, and October 31, 2014 are summarized below:

(Dollars in thousands)
July 31, 2015	Fair Value		Level 1		Level 2		Level 3
Assets:
Cash and cash equivalents	$	110,335	$	110,335	$	—	—
Forward currency contracts	5,620		—		5,620		—
Cross currency contracts	2,179		—		2,179		—

Total assets	$	118,134	$	110,335	$	7,799	—

Liabilities:
Forward currency contracts	$	1,988	—		$	1,988	—
Cross currency contracts	243		—		243		—
Deferred compensation liabilities	1,775		—		1,775		—

Total liabilities	$	4,006	—		$	4,006	—

August 1, 2014	Fair Value		Level 1		Level 2		Level 3
Assets:
Cash and cash equivalents	$	177,894	$	177,894	$	—	—
Forward currency contracts	1,524		—		1,524		—
Cross currency contracts	61		—		61		—

Total assets	$	179,479	$	177,894	$	1,585	—

Liabilities:
Forward currency contracts	$	474	—		$	474	—
Cross currency contracts	701		—		701		—
Deferred compensation liabilities	2,290		—		2,290		—

Total liabilities	$	3,465	—		$	3,465	—

October 31, 2014	Fair Value		Level 1		Level 2		Level 3
Assets:
Cash and cash equivalents	$	314,873	$	314,873	$	—	—
Forward currency contracts	6,030		—		6,030		—
Cross currency contracts	831		—		831		—

Total assets	$	321,734	$	314,873	$	6,861	—

Liabilities:
Forward currency contracts	$	9	—		$	9	—
Cross currency contracts	536		—		536		—
Deferred compensation liabilities	2,141		—		2,141		—

Total liabilities	$	2,686	—		$	2,686	—

The company measures certain assets and liabilities at fair value on a nonrecurring basis. Assets acquired and liabilities assumed as part of acquisitions are measured at fair value. Refer to Acquisition Note for additional information. There were no transfers between Level 1 and Level 2 during the three and nine months ended July 31, 2015 and August 1, 2014, or the twelve months ended October 31, 2014.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Contingencies - Litigation	9 Months Ended
Contingencies - Litigation	Jul. 31, 2015
Contingencies - Litigation
Contingencies - Litigation	Contingencies — Litigation The company is party to litigation in the ordinary course of business. Such matters are generally subject to uncertainties and to outcomes that are not predictable with assurance and that may not be known for extended periods of time. Litigation occasionally involves claims for punitive, as well as compensatory, damages arising out of the use of the company’s products. Although the company is self-insured to some extent, the company maintains insurance against certain product liability losses. The company is also subject to litigation and administrative and judicial proceedings with respect to claims involving asbestos and the discharge of hazardous substances into the environment. Some of these claims assert damages and liability for personal injury, remedial investigations or clean up and other costs and damages. The company is also typically involved in commercial disputes, employment disputes, and patent litigation cases in which it is asserting or defending against patent infringement claims. To prevent possible infringement of the company’s patents by others, the company periodically reviews competitors’ products. To avoid potential liability with respect to others’ patents, the company regularly reviews certain patents issued by the United States Patent and Trademark Office and foreign patent offices. Management believes these activities help minimize its risk of being a defendant in patent infringement litigation. The company records a liability in its consolidated financial statements for costs related to claims, including future legal costs, settlements and judgments, where the company has assessed that a loss is probable and an amount can be reasonably estimated. If the reasonable estimate of a probable loss is a range, the company records the most probable estimate of the loss or the minimum amount when no amount within the range is a better estimate than any other amount. The company discloses a contingent liability even if the liability is not probable or the amount is not estimable, or both, if there is a reasonable possibility that a material loss may have been incurred. In the opinion of management, the amount of liability, if any, with respect to these matters, individually or in the aggregate, will not materially affect its consolidated results of operations, financial position, or cash flows.

Subsequent Events	9 Months Ended
Subsequent Events	Jul. 31, 2015
Subsequent Events
Subsequent Events	Subsequent Events The company evaluated all subsequent events and concluded that no subsequent events have occurred that would require recognition in the consolidated financial statements or disclosure in the notes to the consolidated financial statements.

Acquisition (Tables)

9 Months Ended

Jul. 31, 2015

Acquisition

Allocation of purchase price

	July 31,
(Dollars in thousands)	2015
Inventory	$	14,106
Prepaid expenses	266
Property, plant, and equipment	13,689
Intangible assets	107,700
Goodwill	103,028
Current liabilities	(9,299		)

Purchase price	$	229,490

Stock-Based Compensation (Tables)

9 Months Ended

Jul. 31, 2015

Stock-Based Compensation

Schedule of valuation assumptions of stock-based compensation

	Fiscal 2015	Fiscal 2014
Expected life of option in years	5.94	6
Expected stock price volatility	29.67%	34.29%
Risk-free interest rate	1.61%	1.92%
Expected dividend yield	1.29%	1.25%
Grant date per share weighted-average fair value	$16.81	$18.69

Per Share Data (Tables)

9 Months Ended

Jul. 31, 2015

Per Share Data

Reconciliations of basic and diluted weighted-average shares of common stock outstanding

	Three Months Ended		Nine Months Ended
	July 31,	August 1,	July 31,	August 1,
(Shares in thousands)	2015	2014	2015	2014
Basic
Weighted-average number of shares of common stock	55,310	55,965	55,724	56,477
Assumed issuance of contingent shares	—	—	15	17

Weighted-average number of shares of common stock and assumed issuance of contingent shares	55,310	55,965	55,739	56,494

Diluted
Weighted-average number of shares of common stock and assumed issuance of contingent shares	55,310	55,965	55,739	56,494
Effect of dilutive securities	1,242	1,355	1,214	1,306

Weighted-average number of shares of common stock, assumed issuance of contingent shares, and effect of dilutive securities	56,552	57,320	56,953	57,800

Inventories (Tables)

9 Months Ended

Jul. 31, 2015

Inventories

Schedule of Inventories

	July 31,		August 1,		October 31,
(Dollars in thousands)	2015		2014		2014
Raw materials and work in process	$	102,580	$	88,140	$	95,144
Finished goods and service parts	315,110		270,996		246,954

Total FIFO value	417,690		359,136		342,098
Less: adjustment to LIFO value	67,496		65,375		67,495

Total	$	350,194	$	293,761	$	274,603

Goodwill (Tables)

9 Months Ended

Jul. 31, 2015

Goodwill.

Changes in the net carrying amount of goodwill

	Professional			Residential
(Dollars in thousands)	Segment			Segment			Total
Balance as of October 31, 2014	$	80,946		$	10,905		$	91,851
Goodwill acquired	103,028			—			103,028
Translation adjustments	(46		)	(106		)	(152		)

Balance as of July 31, 2015	$	183,928		$	10,799		$	194,727

Other Intangible Assets (Tables)

9 Months Ended

Jul. 31, 2015

Other Intangible Assets

Components of other amortizable and non-amortizable intangible assets

(Dollars in thousands) July 31, 2015	Weighted-average Life (Years)	Gross Carrying Amount		Accumulated Amortization			Net
Patents	9.9	$	15,202	$	(10,003	)	$	5,199
Non-compete agreements	5.5	6,931		(6,071		)	860
Customer-related	19.1	84,618		(9,156		)	75,462
Developed technology	7.6	28,819		(19,704		)	9,115
Trade names	19.2	28,715		(2,410		)	26,305
Other		800		(800		)	—

Total amortizable		165,085		(48,144		)	116,941
Non-amortizable - trade names		4,863		—			4,863

Total other intangible assets, net		$	169,948	$	(48,144	)	$	121,804

October 31, 2014	Weighted-average Life (Years)	Gross Carrying Amount		Accumulated Amortization			Net
Patents	9.4	$	10,711	$	(8,942	)	$	1,769
Non-compete agreements	5.4	7,039		(5,315		)	1,724
Customer-related	10.7	8,650		(5,517		)	3,133
Developed technology	7.6	28,841		(16,869		)	11,972
Trade names	5.0	1,515		(1,165		)	350
Other		800		(800		)	—

Total amortizable		57,556		(38,608		)	18,948
Non-amortizable - trade names		4,881		—			4,881

Total other intangible assets, net		$	62,437	$	(38,608	)	$	23,829

Warranty Guarantees (Tables)

9 Months Ended

Jul. 31, 2015

Warranty Guarantees

Schedule of changes in accrued warranties

	Nine Months Ended
	July 31,			August 1,
(Dollars in thousands)	2015			2014
Beginning balance	$	71,080		$	72,177
Warranty provisions	34,532			34,078
Warranty claims	(26,728		)	(25,052		)
Changes in estimates	(221		)	(1,510		)

Ending balance	$	78,663		$	79,693

Stockholders' Equity (Tables)

9 Months Ended

Jul. 31, 2015

Stockholders' Equity

Schedule of components of accumulated other comprehensive loss ("AOCL"), net of tax

	July 31,		August 1,		October 31,
(Dollars in thousands)	2015		2014		2014
Foreign currency translation adjustments	$	23,255	$	7,166	$	12,536
Pension and post-retirement benefits	5,195		3,754		5,266
Derivative instruments	297		73		(2,097		)

Total accumulated other comprehensive loss	$	28,747	$	10,993	$	15,705

Schedule of components and activity of accumulated other comprehensive loss

(Dollars in thousands)	Foreign Currency Translation Adjustments		Pension and Postretirement Benefits			Cash Flow Derivative Instruments			Total
Balance as of October 31, 2014	$	12,536	$	5,266		$	(2,097	)	$	15,705
Other comprehensive loss (income) before reclassifications	10,719		(71		)	(6,694		)	3,954
Amounts reclassified from AOCL	—		—			9,088			9,088

Net current period other comprehensive loss (income)	$	10,719	$	(71	)	$	2,394		$	13,042

Balance as of July 31, 2015	$	23,255	$	5,195		$	297		$	28,747

(Dollars in thousands)	Foreign Currency Translation Adjustments			Pension and Postretirement Benefits		Cash Flow Derivative Instruments			Total
Balance as of October 31, 2013	$	7,778		$	3,683	$	1,109		$	12,570
Other comprehensive (income) loss before reclassifications	(612		)	71		450			(91		)
Amounts reclassified from AOCL	—			—		(1,486		)	(1,486		)

Net current period other comprehensive (income) loss	$	(612	)	$	71	$	(1,036	)	$	(1,577	)

Balance as of August 1, 2014	$	7,166		$	3,754	$	73		$	10,993

Segment Data (Tables)

9 Months Ended

Jul. 31, 2015

Segment Data

Summarized financial information concerning the company's reportable segments

(Dollars in thousands)
Three months ended July 31, 2015	Professional		Residential		Other			Total
Net sales	$	421,994	$	175,977	$	11,644		$	609,615
Intersegment gross sales	10,365		222		(10,587		)	—
Earnings (loss) before income taxes	82,253		20,566		(25,203		)	77,616

Three months ended August 1, 2014	Professional		Residential		Other			Total
Net sales	$	384,678	$	175,717	$	7,145		$	567,540
Intersegment gross sales	11,964		128		(12,092		)	—
Earnings (loss) before income taxes	74,835		18,698		(22,735		)	70,798

Nine months ended July 31, 2015	Professional		Residential		Other			Total
Net sales	$	1,314,474	$	578,587	$	17,007		$	1,910,068
Intersegment gross sales	38,651		410		(39,061		)	—
Earnings (loss) before income taxes	258,727		69,131		(72,132		)	255,726
Total assets	846,400		226,835		286,716			1,359,951

Nine months ended August 1, 2014	Professional		Residential		Other			Total
Net sales	$	1,208,707	$	533,664	$	16,180		$	1,758,551
Intersegment gross sales	31,878		378		(32,256		)	—
Earnings (loss) before income taxes	244,665		60,654		(66,650		)	238,669
Total assets	616,305		186,079		325,443			1,127,827

Summary of the components of the loss before income taxes included in "Other"

	Three Months Ended						Nine Months Ended
	July 31,			August 1,			July 31,			August 1,
(Dollars in thousands)	2015			2014			2015			2014
Corporate expenses	$	(26,989	)	$	(22,101	)	$	(68,434	)	$	(62,448	)
Interest expense, net	(4,587		)	(3,629		)	(14,071		)	(11,065		)
Other	6,373			2,995			10,373			6,863

Total	$	(25,203	)	$	(22,735	)	$	(72,132	)	$	(66,650	)

Derivative Instruments and Hedging Activities (Tables)

9 Months Ended

Jul. 31, 2015

Derivative Instruments and Hedging Activities

Fair value of the company's derivatives and consolidated balance sheet location

Asset Derivatives

Liability Derivatives

July 31, 2015

August 1, 2014

July 31, 2015

August 1, 2014

Balance

Sheet

Fair

Sheet

Fair

Sheet

Fair

Sheet

Fair

(Dollars in thousands)

Location

Value

Location

Value

Location

Value

Location

Value

Derivatives Designated as Hedging Instruments

Forward currency contracts

Prepaid expenses

2,957

Prepaid expenses

1,263

Accrued liabilities

1,986

Accrued liabilities

Cross currency contract

Prepaid expenses

—

Prepaid expenses

—

Accrued liabilities

243

Accrued liabilities

701

Derivatives Not Designated as Hedging Instruments

Forward currency contracts

Prepaid expenses

2,663

Prepaid expenses

261

Accrued liabilities

412

Cross currency contract

Prepaid expenses

2,179

Prepaid expenses

Accrued liabilities

—

Accrued liabilities

—

Total Derivatives

7,799

1,585

2,231

1,175

Impact of derivative instruments on the consolidated statements of earnings for the company's derivatives designated as cash flow hedging instruments

														Location of Gain (Loss)	Gain (Loss)
							Location of Gain							Recognized in Income	Recognized in Income
	Gain (Loss)						(Loss) Reclassified	Gain (Loss)						on Derivatives	on Derivatives
	Recognized in OCI on						from AOCL	Reclassified from						(Ineffective Portion	(Ineffective Portion and
	Derivatives						into Income	AOCL into Income						and excluded from	Excluded from
	(Effective Portion)						(Effective Portion)	(Effective Portion)						Effectiveness Testing)	Effectiveness Testing)
(Dollars in thousands)	July 31,			August 1,				July 31,			August 1,				July 31,		August 1,
For the three months ended	2015			2014				2015			2014				2015		2014
Forward currency contracts	$	(654	)	$	952		Net sales	$	3,258		$	(369	)	Other income, net	$	280	$	(63	)

Forward currency contracts	(433		)	(216		)	Cost of sales	(817		)	61
Cross currency contracts	31			(292		)	Other income, net	(85		)	(212		)

Total	$	(1,056	)	$	444			$	2,356		$	(520	)

	July 31,			August 1,				July 31,			August 1,				July 31,		August 1,
For the nine months ended	2015			2014				2015			2014				2015		2014
Forward currency contracts	$	(950	)	$	1,694		Net sales	$	11,188		$	(1,140	)	Other income, net	$	563	$	(204	)

Forward currency contracts	(1,615		)	(333		)	Cost of sales	(1,808		)	93
Cross currency contracts	167			(330		)	Other income, net	(292		)	(439		)

Total	$	(2,398	)	$	1,031			$	9,088		$	(1,486	)

Impact of derivative instruments on the consolidated statements of earnings for the company's derivatives not designated as hedging instruments

		Gain (Loss) Recognized in Net Earnings
		Three Months Ended					Nine Months Ended
	Location of Gain (Loss)	July 31,			August 1,		July 31,		August 1,
(Dollars in thousands)	Recognized in Net Earnings	2015			2014		2015		2014
Forward currency contracts	Other income, net	$	(2,891	)	$	2,474	$	8,459	$	(553	)
Cross currency contracts	Other income, net	139			421		1,441		181

		$	(2,752	)	$	2,895	$	9,900	$	(372	)

Schedule of effects of the master netting arrangements on the fair value of the company's derivative contracts that are recorded in the Consolidated Balance Sheets

	Assets							Liabilities
	Gross Amounts		Gross Liabilities			Net Amounts		Gross Amounts			Gross Assets		Net Amounts of
(Dollars in thousands)	of Recognized		Offset in the			of Assets Presented		of Recognized			offset in the		Liabilities Presented
July 31, 2015	Assets		Balance Sheet			in the Balance Sheet		Liabilities			Balance Sheet		in the Balance Sheet
Forward currency contracts	$	5,855	$	(235	)	$	5,620	$	(2,220	)	$	232	$	(1,988	)
Cross currency contracts	2,179		—			2,179		(243		)	—		(243		)

	$	8,034	$	(235	)	$	7,799	$	(2,463	)	$	232	$	(2,231	)

	Assets							Liabilities
	Gross Amounts		Gross Liabilities			Net Amounts		Gross Amounts			Gross Assets		Net Amounts of
(Dollars in thousands)	of Recognized		Offset in the			of Assets Presented		of Recognized			offset in the		Liabilities Presented
August 1, 2014	Assets		Balance Sheet			in the Balance Sheet		Liabilities			Balance Sheet		in the Balance Sheet
Forward currency contracts	$	1,572	$	(48	)	$	1,524	$	(560	)	$	86	$	(474	)
Cross currency contracts	61		—			61		(701		)	—		(701		)

	$	1,633	$	(48	)	$	1,585	$	(1,261	)	$	86	$	(1,175	)

Fair Value Measurements (Tables)

9 Months Ended

Jul. 31, 2015

Fair Value Measurements

Assets and liabilities measured at fair value on a recurring basis

(Dollars in thousands)
July 31, 2015	Fair Value		Level 1		Level 2		Level 3
Assets:
Cash and cash equivalents	$	110,335	$	110,335	$	—	—
Forward currency contracts	5,620		—		5,620		—
Cross currency contracts	2,179		—		2,179		—

Total assets	$	118,134	$	110,335	$	7,799	—

Liabilities:
Forward currency contracts	$	1,988	—		$	1,988	—
Cross currency contracts	243		—		243		—
Deferred compensation liabilities	1,775		—		1,775		—

Total liabilities	$	4,006	—		$	4,006	—

August 1, 2014	Fair Value		Level 1		Level 2		Level 3
Assets:
Cash and cash equivalents	$	177,894	$	177,894	$	—	—
Forward currency contracts	1,524		—		1,524		—
Cross currency contracts	61		—		61		—

Total assets	$	179,479	$	177,894	$	1,585	—

Liabilities:
Forward currency contracts	$	474	—		$	474	—
Cross currency contracts	701		—		701		—
Deferred compensation liabilities	2,290		—		2,290		—

Total liabilities	$	3,465	—		$	3,465	—

October 31, 2014	Fair Value		Level 1		Level 2		Level 3
Assets:
Cash and cash equivalents	$	314,873	$	314,873	$	—	—
Forward currency contracts	6,030		—		6,030		—
Cross currency contracts	831		—		831		—

Total assets	$	321,734	$	314,873	$	6,861	—

Liabilities:
Forward currency contracts	$	9	—		$	9	—
Cross currency contracts	536		—		536		—
Deferred compensation liabilities	2,141		—		2,141		—

Total liabilities	$	2,686	—		$	2,686	—

Acquisition (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
Acquisition (Details) - USD ($) $ in Thousands	Nov. 14, 2014	Jul. 31, 2015	Aug. 01, 2014	Jul. 31, 2015	Aug. 01, 2014
Acquisition
Acquisition related costs				$ 300
Net sales		$ 609,615	$ 567,540	1,910,068	$ 1,758,551
Fiscal 2015 Acquisitions
Acquisition
Purchase price	$ 229,500
Cash consideration	198,300
Note payable	31,200
Term loan	130,000
Capitalized debt issuance costs	400
Goodwill deductible for income tax purposes	$ 101,900
Professional
Acquisition
Net sales		421,994	$ 384,678	1,314,474	$ 1,208,707
Professional \| Fiscal 2015 Acquisitions
Acquisition
Net sales		$ 37,100		$ 82,400

Acquisition (Details 2) - USD ($) $ in Thousands	Jul. 31, 2015	Oct. 31, 2014	Aug. 01, 2014
Acquisition
Goodwill	$ 194,727	$ 91,851	$ 91,812
Fiscal 2015 Acquisitions
Acquisition
Inventory	14,106
Prepaid expenses	266
Property, plant, and equipment	13,689
Intangible assets	107,700
Goodwill	103,028
Current liabilities	(9,299)
Purchase price	$ 229,490

Stock-Based Compensation (Details)	3 Months Ended						9 Months Ended		12 Months Ended
Stock-Based Compensation (Details)	Jul. 31, 2015 shares	May 01, 2015 shares	Jan. 30, 2015 $ / shares	Aug. 01, 2014 shares	May 02, 2014 shares	Jan. 31, 2014 $ / shares	Jul. 31, 2015 $ / shares shares	Aug. 01, 2014 $ / shares	Oct. 31, 2014 $ / shares
Stock Option Awards
Valuation assumptions of stock-based compensation
Expected life of option in years							5 years 11 months 9 days		6 years
Expected stock price volatility (as a percent)							29.67%		34.29%
Risk-free interest rate (as a percent)							1.61%		1.92%
Expected dividend yield (as a percent)							1.29%		1.25%
Grant date per share weighted-average fair value (in dollars per share)							$ 16.81		$ 18.69
Stock Option Awards \| Executive officers
Stock-Based Compensation
Frequency of grants							On an annual basis in the first quarter of the company's fiscal year
Portion of stock-based award that generally vest per year for employees and non-employee directors							0.333
Award vesting period							3 years
Term of award							10 years
Stock Option Awards \| Other employees
Stock-Based Compensation
Frequency of grants							On an annual basis in the first quarter of the company's fiscal year
Portion of stock-based award that generally vest per year for employees and non-employee directors							0.333
Award vesting period							3 years
Term of award							10 years
Stock Option Awards \| Non-employee directors
Stock-Based Compensation
Frequency of grants							On an annual basis in the first quarter of the company's fiscal year
Portion of stock-based award that generally vest per year for employees and non-employee directors							0.333
Award vesting period							3 years
Term of award							10 years
Requisite service period for non-employee director based upon which fair value of options granted is expensed on the date of grant							10 years
Stock Option Awards \| Non-officer employees
Stock-Based Compensation
Award vesting period							3 years
Term of award							10 years
Performance Share Awards
Stock-Based Compensation
Frequency of grants							On an annual basis in the first quarter of the company's fiscal year
Award vesting period							3 years
Valuation assumptions of stock-based compensation
Grant date per share weighted-average fair value (in dollars per share)			$ 65.68			$ 60.19
Granted (in shares) \| shares	0	0		0	0
Performance goal period							3 years
Maximum increase in the number of shares of common stock a participant receives based on the achievement of performance goals (as a percent)							200.00%
Potential lowest number of shares of common stock that could be received based on the achievement level of performance goals \| shares							0
Restricted Stock and Restricted Stock Unit Awards
Stock-Based Compensation
Portion of stock-based award that generally vest per year for employees and non-employee directors							0.333
Award vesting period							3 years
Valuation assumptions of stock-based compensation
Grant date per share weighted-average fair value (in dollars per share)							$ 66.10	$ 63.09

Per Share Data (Details) - shares	3 Months Ended		9 Months Ended
Per Share Data (Details) - shares	Jul. 31, 2015	Aug. 01, 2014	Jul. 31, 2015	Aug. 01, 2014
Basic
Weighted-average number of shares of common stock	55,310,000	55,965,000	55,724,000	56,477,000
Assumed issuance of contingent shares			15,000	17,000
Weighted-average number of shares of common stock and assumed issuance of contingent shares	55,310,000	55,965,000	55,739,000	56,494,000
Diluted
Weighted-average number of shares of common stock and assumed issuance of contingent shares	55,310,000	55,965,000	55,739,000	56,494,000
Effect of dilutive securities (in shares)	1,242,000	1,355,000	1,214,000	1,306,000
Weighted-average number of shares of common stock, assumed issuance of contingent shares and effect of dilutive securities	56,552,000	57,320,000	56,953,000	57,800,000
Options, restricted stock, and restricted stock units, excluded from the diluted earnings per share	157,299	153,651	245,818	239,058

Inventories (Details) - USD ($) $ in Thousands	Jul. 31, 2015	Oct. 31, 2014	Aug. 01, 2014
Inventories
Raw materials and work in process	$ 102,580	$ 95,144	$ 88,140
Finished goods and service parts	315,110	246,954	270,996
Total FIFO value	417,690	342,098	359,136
Less: adjustment to LIFO value	67,496	67,495	65,375
Total	$ 350,194	$ 274,603	$ 293,761

Goodwill (Details) $ in Thousands	9 Months Ended
Goodwill (Details) $ in Thousands	Jul. 31, 2015 USD ($)
Changes in Goodwill
Goodwill at the beginning of the period	$ 91,851
Goodwill acquired	103,028
Translation adjustments	(152)
Goodwill at the end of the period	194,727
Professional
Changes in Goodwill
Goodwill at the beginning of the period	80,946
Goodwill acquired	103,028
Translation adjustments	(46)
Goodwill at the end of the period	183,928
Residential
Changes in Goodwill
Goodwill at the beginning of the period	10,905
Translation adjustments	(106)
Goodwill at the end of the period	$ 10,799

Other Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
Other Intangible Assets (Details) - USD ($) $ in Thousands	May 01, 2015	Jul. 31, 2015	Oct. 31, 2014	Aug. 01, 2014
Other Intangible Assets
Gross Carrying Amount		$ 165,085	$ 57,556
Accumulated Amortization		(48,144)	(38,608)
Net		116,941	18,948
Total other intangible assets, gross		169,948	62,437
Total other intangible assets, net		121,804	$ 23,829	$ 25,261
Impairment of other intangible assets	$ 1,400
Amortization expense for intangible assets		10,000
Estimated amortization expense
Fiscal 2015 (remainder)		2,800
Fiscal 2016		10,300
Fiscal 2017		9,500
Fiscal 2018		7,400
Fiscal 2019		6,600
After fiscal 2019		$ 80,300
Patents
Other Intangible Assets
Weighted-average Life (Years)		9 years 10 months 24 days	9 years 4 months 24 days
Gross Carrying Amount		$ 15,202	$ 10,711
Accumulated Amortization		(10,003)	(8,942)
Net		$ 5,199	$ 1,769
Non-compete agreements
Other Intangible Assets
Weighted-average Life (Years)		5 years 6 months	5 years 4 months 24 days
Gross Carrying Amount		$ 6,931	$ 7,039
Accumulated Amortization		(6,071)	(5,315)
Net		$ 860	$ 1,724
Customer-related
Other Intangible Assets
Weighted-average Life (Years)		19 years 1 month 6 days	10 years 8 months 12 days
Gross Carrying Amount		$ 84,618	$ 8,650
Accumulated Amortization		(9,156)	(5,517)
Net		$ 75,462	$ 3,133
Developed technology
Other Intangible Assets
Weighted-average Life (Years)		7 years 7 months 6 days	7 years 7 months 6 days
Gross Carrying Amount		$ 28,819	$ 28,841
Accumulated Amortization		(19,704)	(16,869)
Net		$ 9,115	$ 11,972
Trade names
Other Intangible Assets
Weighted-average Life (Years)		19 years 2 months 12 days	5 years
Gross Carrying Amount		$ 28,715	$ 1,515
Accumulated Amortization		(2,410)	(1,165)
Net		26,305	350
Non-amortizable - trade names		4,863	4,881
Other
Other Intangible Assets
Gross Carrying Amount		800	800
Accumulated Amortization		$ (800)	$ (800)

Investment in Joint Venture (Details) - Red Iron Acceptance, LLC - USD ($) $ in Millions	9 Months Ended		12 Months Ended
	Jul. 31, 2015	Aug. 01, 2014	Oct. 31, 2012
Schedule of Equity Method Investments
Period of unlimited automatic extensions after the initial term of joint venture			2 years
Period of notice to be given by parties under the joint venture for not extending the initial term or any subsequent term of joint venture			1 year
Portion owned by Toro (as a percent)	45.00%
Portion owned by TCFIF (as a percent)	55.00%
Secured revolving credit facility	$ 450.0
Investment in joint venture	19.2
Maximum aggregate amount of products repossessed by Red Iron and the TCFIF Canadian affiliate, entity has agreed to repurchase in a calendar year	7.5
Maximum amount of recourse provided to joint venture for outstanding receivables	0.7
Net amount of new receivables financed for dealers and distributors	1,117.7	$ 1,019.3
Summarized financial information for Red Iron
Total assets	383.7
Total liabilities	$ 340.3

Warranty Guarantees (Details) - USD ($) $ in Thousands	9 Months Ended
Warranty Guarantees (Details) - USD ($) $ in Thousands	Jul. 31, 2015	Aug. 01, 2014
Warranty provisions, claims, and changes in estimates
Beginning balance	$ 71,080	$ 72,177
Warranty provisions	34,532	34,078
Warranty claims	(26,728)	(25,052)
Changes in estimates	(221)	(1,510)
Ending balance	$ 78,663	$ 79,693

Stockholders' Equity (Details) - USD ($) $ in Thousands	Jul. 31, 2015	Oct. 31, 2014	Aug. 01, 2014
Accumulated other comprehensive loss (AOCL)
Foreign currency translation adjustments	$ 23,255	$ 12,536	$ 7,166
Pension and post-retirement benefits	5,195	5,266	3,754
Derivative instruments	297	(2,097)	73
Total accumulated other comprehensive loss	$ 28,747	$ 15,705	$ 10,993

- Definition

Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge.

+ References + Details

Stockholders' Equity (Details 2) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Stockholders' Equity (Details 2) - USD ($) $ in Thousands	Jul. 31, 2015	Aug. 01, 2014	Jul. 31, 2015	Aug. 01, 2014
Components and activity of accumulated other comprehensive loss
Balance at the beginning of the period			$ (408,727)
Net current period other comprehensive loss (income)	$ 4,589	$ 174	13,042	$ (1,577)
Balance at the end of the period	(465,173)	(412,733)	(465,173)	(412,733)
Accumulated Other Comprehensive Loss
Components and activity of accumulated other comprehensive loss
Balance at the beginning of the period			15,705	12,570
Other comprehensive loss (income) before reclassifications			3,954	(91)
Amounts reclassified from AOCL			9,088	(1,486)
Net current period other comprehensive loss (income)			13,042	(1,577)
Balance at the end of the period	28,747	10,993	28,747	10,993
Foreign Currency Translation Adjustments
Components and activity of accumulated other comprehensive loss
Balance at the beginning of the period			12,536	7,778
Other comprehensive loss (income) before reclassifications			10,719	(612)
Net current period other comprehensive loss (income)			10,719	(612)
Balance at the end of the period	23,255	7,166	23,255	7,166
Pension and Postretirement Benefits
Components and activity of accumulated other comprehensive loss
Balance at the beginning of the period			5,266	3,683
Other comprehensive loss (income) before reclassifications			(71)	71
Net current period other comprehensive loss (income)			(71)	71
Balance at the end of the period	5,195	3,754	5,195	3,754
Cash Flow Derivative Instruments
Components and activity of accumulated other comprehensive loss
Balance at the beginning of the period			(2,097)	1,109
Other comprehensive loss (income) before reclassifications			(6,694)	450
Amounts reclassified from AOCL			9,088	(1,486)
Net current period other comprehensive loss (income)			2,394	(1,036)
Balance at the end of the period	$ 297	$ 73	$ 297	$ 73

Segment Data (Details) $ in Thousands	3 Months Ended		9 Months Ended
Segment Data (Details) $ in Thousands	Jul. 31, 2015 USD ($)	Aug. 01, 2014 USD ($)	Jul. 31, 2015 USD ($) segment	Aug. 01, 2014 USD ($)	Oct. 31, 2014 USD ($)
Segment Data
Number of reportable business segments \| segment			3
Financial information concerning the company's reportable segments
Net sales	$ 609,615	$ 567,540	$ 1,910,068	$ 1,758,551
Earnings (loss) before income taxes	77,616	70,798	255,726	238,669
Total assets	1,359,951	1,127,827	1,359,951	1,127,827	$ 1,192,415
Components of the loss before income taxes included in "Other"
Interest expense, net	(4,587)	(3,629)	(14,071)	(11,065)
Other	2,798	2,390	7,515	6,220
Earnings before income taxes	77,616	70,798	255,726	238,669
Professional
Financial information concerning the company's reportable segments
Net sales	421,994	384,678	1,314,474	1,208,707
Earnings (loss) before income taxes	82,253	74,835	258,727	244,665
Total assets	846,400	616,305	846,400	616,305
Components of the loss before income taxes included in "Other"
Earnings before income taxes	82,253	74,835	258,727	244,665
Residential
Financial information concerning the company's reportable segments
Net sales	175,977	175,717	578,587	533,664
Earnings (loss) before income taxes	20,566	18,698	69,131	60,654
Total assets	226,835	186,079	226,835	186,079
Components of the loss before income taxes included in "Other"
Earnings before income taxes	20,566	18,698	69,131	60,654
Other
Financial information concerning the company's reportable segments
Net sales	11,644	7,145	17,007	16,180
Earnings (loss) before income taxes	(25,203)	(22,735)	(72,132)	(66,650)
Total assets	286,716	325,443	286,716	325,443
Components of the loss before income taxes included in "Other"
Corporate expenses	(26,989)	(22,101)	(68,434)	(62,448)
Interest expense, net	(4,587)	(3,629)	(14,071)	(11,065)
Other	6,373	2,995	10,373	6,863
Earnings before income taxes	(25,203)	(22,735)	(72,132)	(66,650)
Intersegment \| Professional
Financial information concerning the company's reportable segments
Intersegment gross sales	10,365	11,964	38,651	31,878
Intersegment \| Residential
Financial information concerning the company's reportable segments
Intersegment gross sales	222	128	410	378
Intersegment \| Other
Financial information concerning the company's reportable segments
Intersegment gross sales	$ (10,587)	$ (12,092)	$ (39,061)	$ (32,256)

Derivative Instruments and Hedging Activities (Details) $ in Thousands, € in Millions, in Millions	9 Months Ended
	Jul. 31, 2015 USD ($) item	Jul. 31, 2015 RON ( ) item	Jul. 31, 2015 EUR (€) item	Aug. 01, 2014 USD ($) item	Aug. 01, 2014 RON ( ) item	Aug. 01, 2014 EUR (€) item
Summary of cash flow hedge activity
Maximum time limit for cash flow hedge	2 years
Cash flow hedge effectiveness testing, grace period	2 months
Fair value of derivatives
Asset Derivatives	$ 7,799			$ 1,585
Liability Derivatives	2,231			1,175
Forward currency contracts
Fair value of derivatives
Asset Derivatives	5,620			1,524
Liability Derivatives	1,988			474
Forward currency contracts \| Derivatives Designated as Hedging Instruments \| Prepaid expenses
Fair value of derivatives
Asset Derivatives	2,957			1,263
Forward currency contracts \| Derivatives Designated as Hedging Instruments \| Accrued liabilities
Fair value of derivatives
Liability Derivatives	1,986			62
Forward currency contracts \| Derivatives Designated as Hedging Instruments \| Cash flow hedges.
Fair value of derivatives
Notional amount	102,800			108,600
Forward currency contracts \| Derivatives Not Designated as Hedging Instruments \| Prepaid expenses
Fair value of derivatives
Asset Derivatives	2,663			261
Forward currency contracts \| Derivatives Not Designated as Hedging Instruments \| Accrued liabilities
Fair value of derivatives
Liability Derivatives	2			412
Cross currency contract
Fair value of derivatives
Asset Derivatives	2,179			61
Liability Derivatives	243			701
Cross currency contract \| Derivatives Designated as Hedging Instruments \| Accrued liabilities
Fair value of derivatives
Liability Derivatives	$ 243			$ 701
Cross currency contract \| Derivatives Designated as Hedging Instruments \| Cash flow hedges.
Fair value of derivatives
Notional amount		36.6	€ 8.5		36.6	€ 8.5
Number of foreign currency contracts held \| item	1	1	1	1	1	1
Cross currency contract \| Derivatives Not Designated as Hedging Instruments \| Prepaid expenses
Fair value of derivatives
Asset Derivatives	$ 2,179			$ 61

Derivative Instruments and Hedging Activities (Details 2) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jul. 31, 2015	Aug. 01, 2014	Jul. 31, 2015	Aug. 01, 2014
Derivative Instruments and Hedging Activities
Gain (Loss) Recognized in OCI on Derivatives (Effective Portion)	$ (1,056)	$ 444	$ (2,398)	$ 1,031
Gain (Loss) Reclassified from AOCL into Income (Effective Portion)	2,356	(520)	9,088	(1,486)
Gain (Loss) Recognized in Net Earnings	(2,752)	2,895	9,900	(372)
Reclassification of gains from AOCI to earnings during the next 12 months on foreign currency contracts			800
Forward currency contracts \| Net sales
Derivative Instruments and Hedging Activities
Gain (Loss) Recognized in OCI on Derivatives (Effective Portion)	(654)	952	(950)	1,694
Gain (Loss) Reclassified from AOCL into Income (Effective Portion)	3,258	(369)	11,188	(1,140)
Forward currency contracts \| Cost of sales
Derivative Instruments and Hedging Activities
Gain (Loss) Recognized in OCI on Derivatives (Effective Portion)	(433)	(216)	(1,615)	(333)
Gain (Loss) Reclassified from AOCL into Income (Effective Portion)	(817)	61	(1,808)	93
Forward currency contracts \| Other income, net.
Derivative Instruments and Hedging Activities
Gain (Loss) Recognized in Income on Derivatives (Ineffective Portion and Excluded from Effectiveness Testing)	280	(63)	563	(204)
Gain (Loss) Recognized in Net Earnings	(2,891)	2,474	8,459	(533)
Cross currency contract \| Other income, net.
Derivative Instruments and Hedging Activities
Gain (Loss) Recognized in OCI on Derivatives (Effective Portion)	31	(292)	167	(330)
Gain (Loss) Reclassified from AOCL into Income (Effective Portion)	(85)	(212)	(292)	(439)
Gain (Loss) Recognized in Net Earnings	$ 139	$ 421	$ 1,441	$ 181

Derivative Instruments and Hedging Activities (Details 3) - USD ($) $ in Thousands	Jul. 31, 2015	Aug. 01, 2014
Assets
Gross Amounts of Recognized Assets	$ 8,034	$ 1,633
Gross Liabilities Offset in the Balance Sheet	(235)	(48)
Net Amounts of Assets Presented in the Balance Sheet	7,799	1,585
Liabilities
Gross Amounts of Recognized Liabilities	(2,463)	(1,261)
Gross Assets Offset in the Balance Sheet	232	86
Net Amounts of Liabilities Presented in the Balance Sheet	(2,231)	(1,175)
Forward currency contracts
Assets
Gross Amounts of Recognized Assets	5,855	1,572
Gross Liabilities Offset in the Balance Sheet	(235)	(48)
Net Amounts of Assets Presented in the Balance Sheet	5,620	1,524
Liabilities
Gross Amounts of Recognized Liabilities	(2,220)	(560)
Gross Assets Offset in the Balance Sheet	232	86
Net Amounts of Liabilities Presented in the Balance Sheet	(1,988)	(474)
Cross currency contract
Assets
Gross Amounts of Recognized Assets	2,179	61
Net Amounts of Assets Presented in the Balance Sheet	2,179	61
Liabilities
Gross Amounts of Recognized Liabilities	(243)	(701)
Net Amounts of Liabilities Presented in the Balance Sheet	$ (243)	$ (701)

Fair Value Measurements (Details) - USD ($) $ in Thousands	Jul. 31, 2015	Oct. 31, 2014	Aug. 01, 2014
Liabilities:
Transfer of asset from level 1 to level 2	$ 0	$ 0	$ 0
Transfer of asset from level 2 to level 1	0	0	0
Transfer of liabilities from level 1 to level 2	0	0	0
Transfer of liabilities from level 2 to level 1	0	0	0
Measured on a recurring basis \| Fair Value
Assets:
Cash and cash equivalents	110,335	314,873	177,894
Forward currency contracts	5,620	6,030	1,524
Cross currency contracts	2,179	831	61
Total assets	118,134	321,734	179,479
Liabilities:
Forward currency contracts	1,988	9	474
Cross currency contracts	243	536	701
Deferred compensation liabilities	1,775	2,141	2,290
Total liabilities	4,006	2,686	3,465
Measured on a recurring basis \| Level 1
Assets:
Cash and cash equivalents	110,335	314,873	177,894
Total assets	110,335	314,873	177,894
Measured on a recurring basis \| Level 2
Assets:
Forward currency contracts	5,620	6,030	1,524
Cross currency contracts	2,179	831	61
Total assets	7,799	6,861	1,585
Liabilities:
Forward currency contracts	1,988	9	474
Cross currency contracts	243	536	701
Deferred compensation liabilities	1,775	2,141	2,290
Total liabilities	$ 4,006	$ 2,686	$ 3,465