View Filing Data

Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Jan. 29, 2016	Feb. 23, 2016
Document and Entity Information
Entity Registrant Name	TORO CO
Entity Central Index Key	0000737758
Document Type	10-Q
Document Period End Date	Jan. 29, 2016
Amendment Flag	false
Current Fiscal Year End Date	--10-31
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		54,451,695
Document Fiscal Year Focus	2016
Document Fiscal Period Focus	Q1

Condensed Consolidated Statements of Earnings - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Jan. 29, 2016	Jan. 30, 2015
Condensed Consolidated Statements of Earnings
Net sales	$ 486,398	$ 474,211
Cost of sales	303,744	305,212
Gross profit	182,654	168,999
Selling, general, and administrative expense	128,815	124,577
Operating earnings	53,839	44,422
Interest expense	(4,654)	(4,716)
Other income, net	4,512	2,267
Earnings before income taxes	53,697	41,973
Provision for income taxes	14,436	11,023
Net earnings	$ 39,261	$ 30,950
Basic net earnings per share of common stock (in dollars per share)	$ 0.71	$ 0.55
Diluted net earnings per share of common stock (in dollars per share)	$ 0.70	$ 0.54
Weighted-average number of shares of common stock outstanding - Basic (in shares)	55,014	56,043
Weighted-average number of shares of common stock outstanding - Diluted (in shares)	56,163	57,242

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Jan. 29, 2016	Jan. 30, 2015
Condensed Consolidated Statements of Comprehensive Income
Net earnings	$ 39,261	$ 30,950
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments	(4,791)	(8,126)
Derivative instruments, net of tax of $338 and $2,450, respectively	(1,059)	2,778
Other comprehensive loss	(5,850)	(5,348)
Comprehensive income	$ 33,411	$ 25,602

Condensed Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Jan. 29, 2016	Jan. 30, 2015
Condensed Consolidated Statements of Comprehensive Income
Derivative instruments, tax	$ (338)	$ 2,450

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jan. 29, 2016	Oct. 31, 2015	Jan. 30, 2015
ASSETS
Cash and cash equivalents	$ 118,140	$ 126,275	$ 82,914
Receivables, net	190,297	177,013	205,287
Inventories, net	422,036	334,514	364,390
Prepaid expenses and other current assets	36,983	34,782	41,084
Deferred income taxes	37,633	38,095	40,414
Total current assets	805,089	710,679	734,089
Property, plant, and equipment	811,222	804,598	777,116
Less: accumulated depreciation	589,699	579,603	562,333
Property, Plant and Equipment, Net	221,523	224,995	214,783
Long-term deferred income taxes	28,367	28,568	25,629
Other assets	27,510	24,873	24,029
Goodwill	195,222	195,533	194,934
Other intangible assets, net	116,123	119,010	128,704
Total assets	1,393,834	1,303,658	1,322,168
LIABILITIES AND STOCKHOLDERS' EQUITY
Current portion of long-term debt	23,398	23,134	20,340
Short-term debt	52,912	222	47,000
Accounts payable	211,216	152,017	195,569
Accrued liabilities	262,888	268,361	245,299
Total current liabilities	550,414	443,734	508,208
Long-term debt, less current portion	341,127	354,818	364,662
Deferred revenue	11,246	11,365	10,812
Other long-term liabilities	31,118	31,576	24,646
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 54,482,554 shares as of January 29 ,2016, 55,646,389 shares as of January 30, 2015, and 54,650,916 shares as of October 31, 2015	54,483	54,651	55,646
Retained earnings	441,139	437,357	379,247
Accumulated other comprehensive loss	(35,693)	(29,843)	(21,053)
Total stockholders' equity	459,929	462,165	413,840
Total liabilities and stockholders' equity	$ 1,393,834	$ 1,303,658	$ 1,322,168

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jan. 29, 2016	Oct. 31, 2015	Jan. 30, 2015
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, 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	54,482,554	54,650,916	55,646,389
Common stock, outstanding shares	54,482,554	54,650,916	55,646,389

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Jan. 29, 2016	Jan. 30, 2015
Cash flows from operating activities:
Net earnings	$ 39,261	$ 30,950
Adjustments to reconcile net earnings to net cash provided by (used in) operating activities:
Non-cash income from finance affiliate	(1,878)	(1,460)
Provision for depreciation and amortization, and impairment loss	15,741	14,849
Stock-based compensation expense	2,477	2,684
Increase in deferred income taxes		(152)
Other	(464)	(21)
Changes in operating assets and liabilities, net of effect of acquisitions:
Receivables, net	(12,614)	(50,390)
Inventories, net	(92,918)	(80,283)
Prepaid expenses and other assets	(4,584)	(4,745)
Accounts payable, accrued liabilities, deferred revenue, and other long-term liabilities	56,219	65,177
Net cash provided by (used in) operating activities	1,240	(23,391)
Cash flows from investing activities:
Purchases of property, plant, and equipment	(10,680)	(10,099)
Proceeds from asset disposals	60	23
Distributions from (contributions to) finance affiliate, net	765	(385)
Proceeds from sale of a business	1,500
Acquisitions, net of cash acquired		(197,782)
Net cash used in investing activities	(8,355)	(208,243)
Cash flows from financing activities:
Increase in short-term debt	51,789	25,717
Repayments of long-term debt	(13,442)	(130)
Excess tax benefits from stock-based awards	3,362	3,140
Proceeds from exercise of stock options	2,495	2,379
Purchases of Toro common stock	(27,485)	(14,678)
Dividends paid on Toro common stock	(16,496)	(14,014)
Net cash provided by financing activities	223	2,414
Effect of exchange rates on cash and cash equivalents	(1,243)	(2,739)
Net decrease in cash and cash equivalents	(8,135)	(231,959)
Cash and cash equivalents as of the beginning of the fiscal period	126,275	314,873
Cash and cash equivalents as of the end of the fiscal period	$ 118,140	82,914
Supplemental disclosure of cash flow information:
Debt issued in connection with an acquisition		$ 31,161

Basis of Presentation	3 Months Ended
Basis of Presentation	Jan. 29, 2016
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 three months ended January 29, 2016 cannot be annualized to determine the expected results for the fiscal year ending October 31, 2016. 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, 2015. The policies described in that report are used for preparing quarterly reports.

Accounting Policies	3 Months Ended
Accounting Policies	Jan. 29, 2016
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.

Divestiture	3 Months Ended
Divestiture	Jan. 29, 2016
Divestiture
Divestiture	Divestiture On November 27, 2015, in the first quarter of fiscal 2016, the company completed the sale of its Northwestern U.S. distribution company. The divestiture was not material based on the company’s consolidated financial condition and results of operations.

Stock-Based Compensation

3 Months Ended

Jan. 29, 2016

Stock-Based Compensation

Stock-Based Compensation

Stock Option Awards

Under The Toro Company Amended and Restated 2010 Equity and Incentive Plan, as amended (the “2010 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 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 executive officers and other employees are subject to accelerated expensing if the option holder meets the retirement definition set forth in the 2010 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 executive 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 weighted-average assumptions for options granted in the following fiscal periods.

	Fiscal 2016	Fiscal 2015
Expected life of option in years	5.98	5.94
Expected stock price volatility	24.06%	29.66%
Risk-free interest rate	1.81%	1.61%
Expected dividend yield	1.24%	1.29%
Grant date per share weighted-average fair value	$17.58	$16.81

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 2016 and 2015 was $77.77 and $65.68, respectively.

Restricted Stock and Restricted Stock Unit Awards

Under the 2010 plan, restricted stock and restricted stock unit awards are generally granted to certain employees that are not executive officers. 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 quarter of fiscal 2016 and 2015 was $77.24 and $62.62, respectively.

Per Share Data

3 Months Ended

Jan. 29, 2016

Per Share Data

Per Share Data

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

	Three Months Ended
	January 29,	January 30,
(Shares in thousands)	2016	2015
Basic
Weighted-average number of shares of common stock	54,977	55,997
Assumed issuance of contingent shares	37	46

Weighted-average number of shares of common stock and assumed issuance of contingent shares	55,014	56,043

Diluted
Weighted-average number of shares of common stock and assumed issuance of contingent shares	55,014	56,043
Effect of dilutive securities	1,149	1,199

Weighted-average number of shares of common stock, assumed issuance of contingent shares, and effect of dilutive securities	56,163	57,242

Incremental shares from options, restricted stock, and restricted stock units are computed by the treasury stock method. Options to purchase 199,281 and 198,770 shares of common stock during the first quarter of fiscal 2016 and 2015, respectively, were excluded from the computation of diluted net earnings per share because they were anti-dilutive.

Inventories

3 Months Ended

Jan. 29, 2016

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:

	January 29,		January 30,		October 31,
(Dollars in thousands)	2016		2015		2015
Raw materials and work in process	$	115,373	$	123,677	$	107,086
Finished goods and service parts	370,703		308,208		291,468

Total FIFO value	486,076		431,885		398,554
Less: adjustment to LIFO value	64,040		67,495		64,040

Total	$	422,036	$	364,390	$	334,514

Goodwill

3 Months Ended

Jan. 29, 2016

Goodwill.

Goodwill

The changes in the net carrying amount of goodwill for the first quarter of fiscal 2016 were as follows:

	Professional			Residential
(Dollars in thousands)	Segment			Segment			Total
Balance as of October 31, 2015	$	184,766		$	10,767		$	195,533
Translation adjustments	(168		)	(143		)	(311		)

Balance as of January 29, 2016	$	184,598		$	10,624		$	195,222

Other Intangible Assets

3 Months Ended

Jan. 29, 2016

Other Intangible Assets

Other Intangible Assets

The components of other intangible assets were as follows:

(Dollars in thousands) January 29, 2016	Weighted-average Life (Years)	Gross Carrying Amount		Accumulated Amortization			Net
Patents	9.9	$	15,167	$	(10,334	)	$	4,833
Non-compete agreements	5.5	6,901		(6,326		)	575
Customer-related	19.1	84,502		(11,346		)	73,156
Developed technology	7.6	28,739		(21,300		)	7,439
Trade names	19.2	28,715		(3,215		)	25,500
Other		800		(800		)	—

Total amortizable		164,824		(53,321		)	111,503
Non-amortizable - trade names		4,620		—			4,620

Total other intangible assets, net		$	169,444	$	(53,321	)	$	116,123

October 31, 2015	Weighted-average Life (Years)	Gross Carrying Amount		Accumulated Amortization			Net
Patents	9.9	$	15,191	$	(10,175	)	$	5,016
Non-compete agreements	5.5	6,922		(6,206		)	716
Customer-related	19.1	84,599		(10,316		)	74,283
Developed technology	7.6	28,804		(20,530		)	8,274
Trade names	19.2	28,715		(2,825		)	25,890
Other		800		(800		)	—

Total amortizable		165,031		(50,852		)	114,179
Non-amortizable - trade names		4,831		—			4,831

Total other intangible assets, net		$	169,862	$	(50,852	)	$	119,010

Amortization expense for intangible assets during the first quarter of fiscal 2016 was $3.2 million. Estimated amortization expense for the remainder of fiscal 2016 and succeeding fiscal years is as follows: fiscal 2016 (remainder), $7.7 million; fiscal 2017, $9.5 million; fiscal 2018, $7.4 million; fiscal 2019, $6.6 million; fiscal 2020, $6.0 million; fiscal 2021, $5.6 million; and after fiscal 2021, $68.7 million.

Investment in Joint Venture	3 Months Ended
Investment in Joint Venture	Jan. 29, 2016
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 January 29, 2016 was $20.1 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 $0.6 million as of January 29, 2016. 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 three months ended January 29, 2016 and January 30, 2015 was $336.1 million and $239.2 million, respectively. As of January 29, 2016, Red Iron’s total assets were $399.4 million and total liabilities were $354.8 million.

Warranty Guarantees

3 Months Ended

Jan. 29, 2016

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 quarter of each of fiscal 2016 and 2015 were as follows:

	Three Months Ended
	January 29,			January 30,
(Dollars in thousands)	2016			2015
Beginning balance	$	70,734		$	71,080
Warranty provisions	8,940			8,420
Warranty claims	(8,527		)	(8,572		)
Addition from an acquisition	—			786

Ending balance	$	71,147		$	71,714

Segment Data

3 Months Ended

Jan. 29, 2016

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 our company-owned domestic distributorship, 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 January 29, 2016	Professional		Residential		Other			Total
Net sales	$	338,836	$	144,284	$	3,278		$	486,398
Intersegment gross sales	5,717		68		(5,785		)	—
Earnings (loss) before income taxes	61,592		16,739		(24,634		)	53,697
Total assets	854,106		263,407		276,321			1,393,834

Three months ended January 30, 2015	Professional		Residential		Other			Total
Net sales	$	339,706	$	134,743	$	(238	)	$	474,211
Intersegment gross sales	10,520		84		(10,604		)	—
Earnings (loss) before income taxes	55,659		13,727		(27,413		)	41,973
Total assets	866,760		214,652		240,756			1,322,168

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

	Three Months Ended
	January 29,			January 30,
(Dollars in thousands)	2016			2015
Corporate expenses	$	(24,783	)	$	(21,970	)
Interest expense	(4,654		)	(4,716		)
Other	4,803			(727		)

Total	$	(24,634	)	$	(27,413	)

- 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.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8981-108599

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9038-108599

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 33
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8971-108599

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8595-108599

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8380-108599

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 26
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8844-108599

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 35
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8984-108599

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9031-108599

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9054-108599

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8538-108599

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 29
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8864-108599

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8924-108599

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8906-108599

+ Details

Stockholders' Equity

3 Months Ended

Jan. 29, 2016

Stockholders' Equity

Stockholders' Equity

Stockholders’ Equity

Accumulated Other Comprehensive Loss

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

	January 29,		January 30,			October 31,
(Dollars in thousands)	2016		2015			2015
Foreign currency translation adjustments	$	29,393	$	20,818		$	24,328
Pension and postretirement benefits	5,112		5,110			5,386
Derivative instruments	1,188		(4,875		)	129

Total accumulated other comprehensive loss	$	35,693	$	21,053		$	29,843

The components and activity of AOCL for the first three months of fiscal 2016 are as follows:

(Dollars in thousands)	Foreign Currency Translation Adjustments		Pension and Postretirement Benefits			Cash Flow Derivative Instruments		Total
Balance as of October 31, 2015	$	24,328	$	5,386		$	129	$	29,843
Other comprehensive loss before reclassifications	5,065		(274		)	165		4,956
Amounts reclassified from AOCL	—		—			894		894

Net current period other comprehensive loss (income)	$	5,065	$	(274	)	$	1,059	$	5,850

Balance as of January 29, 2016	$	29,393	$	5,112		$	1,188	$	35,693

The components and activity of AOCL for the first three 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 before reclassifications	8,282		(156		)	(4,456		)	3,670
Amounts reclassified from AOCL	—		—			1,678			1,678

Net current period other comprehensive loss (income)	$	8,282	$	(156	)	$	(2,778	)	$	5,348

Balance as of January 30, 2015	$	20,818	$	5,110		$	(4,875	)	$	21,053

- 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

Reference 1: 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.(d),(e))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21484-112644

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB TOPIC 4.E)
-URI http://asc.fasb.org/extlink&oid=27010918&loc=d3e74512-122707

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21488-112644

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.29-31)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 4
-Subparagraph (SAB TOPIC 4.C)
-URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187143-122770

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 30
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6405834&loc=d3e23285-112656

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Preferred Stock
-URI http://asc.fasb.org/extlink&oid=6521494

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21463-112644

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21564-112644

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 4
-Section E

Reference 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 4
-Section C

+ Details

Derivative Instruments and Hedging Activities

3 Months Ended

Jan. 29, 2016

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, foreign plant operations, and purchases from suppliers. 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 statement of earnings classification of effective hedge results is the same as that of the underlying exposure. Results of hedges of sales are recorded in net sales, and foreign plant operations and purchases of suppliers are recorded in cost of sales 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 sheet, recognizing future changes in the fair value in other income, net. For the first quarter of fiscal 2016, there were no gains or losses on contracts reclassified into earnings as a result of the discontinuance of cash flow hedges. As of January 29, 2016, the notional amount outstanding of forward contracts designated as cash flow hedges was $131.4 million. Additionally, the company has one cross currency interest rate swap instrument outstanding as of January 29, 2016 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

January 29, 2016

January 30, 2015

January 29, 2016

January 30, 2015

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

3,393

Prepaid expenses

9,125

Accrued liabilities

2,967

Accrued liabilities

—

Cross currency contract

Prepaid expenses

142

Prepaid expenses

—

Accrued liabilities

—

Accrued liabilities

440

Derivatives Not Designated as Hedging Instruments

Forward currency contracts

Prepaid expenses

1,347

Prepaid expenses

4,901

Accrued liabilities

235

Accrued liabilities

—

Cross currency contract

Prepaid expenses

2,218

Prepaid expenses

1,930

Accrued liabilities

—

Accrued liabilities

—

Total Derivatives

7,100

15,956

3,202

440

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 months ended January 29, 2016 and January 30, 2015, 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)	January 29,			January 30,				January 29,			January 30,				January 29,			January 30,
For the three months ended	2016			2015				2016			2015				2016			2015
Forward currency contracts	$	565		$	4,178		Net sales	$	1,080		$	2,004		Other income, net	$	(12	)	$	227

Forward currency contracts	(1,659		)	(1,384		)	Cost of sales	(314		)	(313		)
Cross currency contracts	34			(18		)	Other income, net	128			(13		)

Total	$	(1,060	)	$	2,776			$	894		$	1,678

As of January 29, 2016, the company expects to reclassify approximately $0.7 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
	Location of Gain (Loss)	January 29,		January 30,
(Dollars in thousands)	Recognized in Net Earnings	2016		2015
Forward currency contracts	Other income, net	$	1,337	$	8,261
Cross currency contracts	Other income, net	130		1,135

		$	1,467	$	9,396

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
January 29, 2016	Assets		Balance Sheet		in the Balance Sheet		Liabilities			Balance Sheet		in the Balance Sheet
Forward currency contracts	$	4,740	$	—	$	4,740	$	(3,202	)	$	—	$	(3,202	)
Cross currency contracts	2,360		—		2,360		—			—		—

	$	7,100	$	—	$	7,100	$	(3,202	)	$	—	$	(3,202	)

	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
January 30, 2015	Assets		Balance Sheet			in the Balance Sheet		Liabilities			Balance Sheet		in the Balance Sheet
Forward currency contracts	$	15,781	$	(1,755	)	$	14,026	$	—		$	—	$	—
Cross currency contracts	1,930		—			1,930		(440		)	—		(440		)

	$	17,711	$	(1,755	)	$	15,956	$	(440	)	$	—	$	(440	)

- 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
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=56946850&loc=d3e41620-113959

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-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
-Topic 815
-SubTopic 10
-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
-SubTopic 10
-Section 50
-Paragraph 5
-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
-SubTopic 10
-Section 50
-Paragraph 4H
-URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5624258-113959

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 30
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=35736893&loc=d3e80748-113994

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4K
-URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5708775-113959

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-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
-Topic 815
-SubTopic 10
-Section 50
-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
-SubTopic 10
-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
-SubTopic 10
-Section 50
-Paragraph 4E
-URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5624181-113959

Reference 17: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-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
-Paragraph 4
-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

3 Months Ended

Jan. 29, 2016

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 January 29, 2016, January 30, 2015, and October 31, 2015 are summarized below:

(Dollars in thousands)
January 29, 2016	Fair Value		Level 1		Level 2		Level 3
Assets:
Cash and cash equivalents	$	118,140	$	118,140	$	—	—
Forward currency contracts	4,740		—		4,740		—
Cross currency contracts	2,360		—		2,360		—

Total assets	$	125,240	$	118,140	$	7,100	—

Liabilities:
Forward currency contracts	$	3,202	—		$	3,202	—
Deferred compensation liabilities	1,524		—		1,524		—

Total liabilities	$	4,726	—		$	4,726	—

January 30, 2015	Fair Value		Level 1		Level 2		Level 3
Assets:
Cash and cash equivalents	$	82,914	$	82,914	$	—	—
Forward currency contracts	14,026		—		14,026		—
Cross currency contracts	1,930		—		1,930

Total assets	$	98,870	$	82,914	$	15,956	—

Liabilities:
Cross currency contracts	$	440	—		$	440	—
Deferred compensation liabilities	2,016		—		2,016		—

Total liabilities	$	2,456	—		$	2,456	—

October 31, 2015	Fair Value		Level 1		Level 2		Level 3
Assets:
Cash and cash equivalents	$	126,275	$	126,275	$	—	—
Forward currency contracts	3,173		—		3,173		—
Cross currency contracts	2,136		—		2,136		—

Total assets	$	131,584	$	126,275	$	5,309	—

Liabilities:
Forward currency contracts	$	1,711	—		$	1,711	—
Cross currency contracts	134		—		134		—
Deferred compensation liabilities	1,652		—		1,652		—

Total liabilities	$	3,497	—		$	3,497	—

There were no transfers between Level 1 and Level 2 during the three months ended January 29, 2016, January 30, 2015, or the twelve months ended October 31, 2015.

- 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	3 Months Ended
Contingencies - Litigation	Jan. 29, 2016
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 is currently involved in patent litigation cases, including cases by or against competitors, where it is asserting and defending against claims of patent infringement. Such cases are at varying stages in the litigation process. 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.

Related Party Transaction	3 Months Ended
Related Party Transaction	Jan. 29, 2016
Related Party Transaction
Related Party Transaction	Related Party Transaction 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. The purchase price included a cash payment and issuance of an unsecured promissory note in the aggregate principal amount of $30 million. Under the terms of the note, interest will accrue at the rate of 4.0% per year and principal payments of $10 million each, together with accrued interest, will be payable on the first, second, and third anniversaries of the closing date of the acquisition, subject to certain conditions. Effective as of the closing of the acquisition on November 14, 2014, the company hired David J. Brule II, who is also a minority shareholder of Northern Star Industries, Inc., as an executive officer of the company. During the first quarter of fiscal 2016, the first principal payment of $10 million plus interest was paid in accordance with the terms of the note.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References + Details

Subsequent Events	3 Months Ended
Subsequent Events	Jan. 29, 2016
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.

Stock-Based Compensation (Tables)

3 Months Ended

Jan. 29, 2016

Stock-Based Compensation

Schedule of weighted-average assumptions for options granted

	Fiscal 2016	Fiscal 2015
Expected life of option in years	5.98	5.94
Expected stock price volatility	24.06%	29.66%
Risk-free interest rate	1.81%	1.61%
Expected dividend yield	1.24%	1.29%
Grant date per share weighted-average fair value	$17.58	$16.81

Per Share Data (Tables)

3 Months Ended

Jan. 29, 2016

Per Share Data

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

	Three Months Ended
	January 29,	January 30,
(Shares in thousands)	2016	2015
Basic
Weighted-average number of shares of common stock	54,977	55,997
Assumed issuance of contingent shares	37	46

Weighted-average number of shares of common stock and assumed issuance of contingent shares	55,014	56,043

Diluted
Weighted-average number of shares of common stock and assumed issuance of contingent shares	55,014	56,043
Effect of dilutive securities	1,149	1,199

Weighted-average number of shares of common stock, assumed issuance of contingent shares, and effect of dilutive securities	56,163	57,242

Inventories (Tables)

3 Months Ended

Jan. 29, 2016

Inventories

Schedule of Inventories

	January 29,		January 30,		October 31,
(Dollars in thousands)	2016		2015		2015
Raw materials and work in process	$	115,373	$	123,677	$	107,086
Finished goods and service parts	370,703		308,208		291,468

Total FIFO value	486,076		431,885		398,554
Less: adjustment to LIFO value	64,040		67,495		64,040

Total	$	422,036	$	364,390	$	334,514

Goodwill (Tables)

3 Months Ended

Jan. 29, 2016

Goodwill.

Changes in net carrying amount of goodwill

	Professional			Residential
(Dollars in thousands)	Segment			Segment			Total
Balance as of October 31, 2015	$	184,766		$	10,767		$	195,533
Translation adjustments	(168		)	(143		)	(311		)

Balance as of January 29, 2016	$	184,598		$	10,624		$	195,222

Other Intangible Assets (Tables)

3 Months Ended

Jan. 29, 2016

Other Intangible Assets

Components of other intangible assets

(Dollars in thousands) January 29, 2016	Weighted-average Life (Years)	Gross Carrying Amount		Accumulated Amortization			Net
Patents	9.9	$	15,167	$	(10,334	)	$	4,833
Non-compete agreements	5.5	6,901		(6,326		)	575
Customer-related	19.1	84,502		(11,346		)	73,156
Developed technology	7.6	28,739		(21,300		)	7,439
Trade names	19.2	28,715		(3,215		)	25,500
Other		800		(800		)	—

Total amortizable		164,824		(53,321		)	111,503
Non-amortizable - trade names		4,620		—			4,620

Total other intangible assets, net		$	169,444	$	(53,321	)	$	116,123

October 31, 2015	Weighted-average Life (Years)	Gross Carrying Amount		Accumulated Amortization			Net
Patents	9.9	$	15,191	$	(10,175	)	$	5,016
Non-compete agreements	5.5	6,922		(6,206		)	716
Customer-related	19.1	84,599		(10,316		)	74,283
Developed technology	7.6	28,804		(20,530		)	8,274
Trade names	19.2	28,715		(2,825		)	25,890
Other		800		(800		)	—

Total amortizable		165,031		(50,852		)	114,179
Non-amortizable - trade names		4,831		—			4,831

Total other intangible assets, net		$	169,862	$	(50,852	)	$	119,010

Warranty Guarantees (Tables)

3 Months Ended

Jan. 29, 2016

Warranty Guarantees

Schedule of changes in accrued warranties

	Three Months Ended
	January 29,			January 30,
(Dollars in thousands)	2016			2015
Beginning balance	$	70,734		$	71,080
Warranty provisions	8,940			8,420
Warranty claims	(8,527		)	(8,572		)
Addition from an acquisition	—			786

Ending balance	$	71,147		$	71,714

Segment Data (Tables)

3 Months Ended

Jan. 29, 2016

Segment Data

Summarized financial information concerning reportable segments

(Dollars in thousands)
Three months ended January 29, 2016	Professional		Residential		Other			Total
Net sales	$	338,836	$	144,284	$	3,278		$	486,398
Intersegment gross sales	5,717		68		(5,785		)	—
Earnings (loss) before income taxes	61,592		16,739		(24,634		)	53,697
Total assets	854,106		263,407		276,321			1,393,834

Three months ended January 30, 2015	Professional		Residential		Other			Total
Net sales	$	339,706	$	134,743	$	(238	)	$	474,211
Intersegment gross sales	10,520		84		(10,604		)	—
Earnings (loss) before income taxes	55,659		13,727		(27,413		)	41,973
Total assets	866,760		214,652		240,756			1,322,168

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

	Three Months Ended
	January 29,			January 30,
(Dollars in thousands)	2016			2015
Corporate expenses	$	(24,783	)	$	(21,970	)
Interest expense	(4,654		)	(4,716		)
Other	4,803			(727		)

Total	$	(24,634	)	$	(27,413	)

Stockholders' Equity (Tables)

3 Months Ended

Jan. 29, 2016

Stockholders' Equity

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

	January 29,		January 30,			October 31,
(Dollars in thousands)	2016		2015			2015
Foreign currency translation adjustments	$	29,393	$	20,818		$	24,328
Pension and postretirement benefits	5,112		5,110			5,386
Derivative instruments	1,188		(4,875		)	129

Total accumulated other comprehensive loss	$	35,693	$	21,053		$	29,843

Schedule of components and activity of AOCL

(Dollars in thousands)	Foreign Currency Translation Adjustments		Pension and Postretirement Benefits			Cash Flow Derivative Instruments		Total
Balance as of October 31, 2015	$	24,328	$	5,386		$	129	$	29,843
Other comprehensive loss before reclassifications	5,065		(274		)	165		4,956
Amounts reclassified from AOCL	—		—			894		894

Net current period other comprehensive loss (income)	$	5,065	$	(274	)	$	1,059	$	5,850

Balance as of January 29, 2016	$	29,393	$	5,112		$	1,188	$	35,693

(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 before reclassifications	8,282		(156		)	(4,456		)	3,670
Amounts reclassified from AOCL	—		—			1,678			1,678

Net current period other comprehensive loss (income)	$	8,282	$	(156	)	$	(2,778	)	$	5,348

Balance as of January 30, 2015	$	20,818	$	5,110		$	(4,875	)	$	21,053

Derivative Instruments and Hedging Activities (Tables)

3 Months Ended

Jan. 29, 2016

Derivative Instruments and Hedging Activities

Fair value of derivatives and consolidated balance sheet location

Asset Derivatives

Liability Derivatives

January 29, 2016

January 30, 2015

January 29, 2016

January 30, 2015

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

3,393

Prepaid expenses

9,125

Accrued liabilities

2,967

Accrued liabilities

—

Cross currency contract

Prepaid expenses

142

Prepaid expenses

—

Accrued liabilities

—

Accrued liabilities

440

Derivatives Not Designated as Hedging Instruments

Forward currency contracts

Prepaid expenses

1,347

Prepaid expenses

4,901

Accrued liabilities

235

Accrued liabilities

—

Cross currency contract

Prepaid expenses

2,218

Prepaid expenses

1,930

Accrued liabilities

—

Accrued liabilities

—

Total Derivatives

7,100

15,956

3,202

440

Impact of derivative instruments on consolidated statements of earnings for 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)	January 29,			January 30,				January 29,			January 30,				January 29,			January 30,
For the three months ended	2016			2015				2016			2015				2016			2015
Forward currency contracts	$	565		$	4,178		Net sales	$	1,080		$	2,004		Other income, net	$	(12	)	$	227

Forward currency contracts	(1,659		)	(1,384		)	Cost of sales	(314		)	(313		)
Cross currency contracts	34			(18		)	Other income, net	128			(13		)

Total	$	(1,060	)	$	2,776			$	894		$	1,678

Impact of derivative instruments on consolidated statements of earnings for derivatives not designated as hedging instruments

		Gain (Loss) Recognized in Net Earnings
		Three Months Ended
	Location of Gain (Loss)	January 29,		January 30,
(Dollars in thousands)	Recognized in Net Earnings	2016		2015
Forward currency contracts	Other income, net	$	1,337	$	8,261
Cross currency contracts	Other income, net	130		1,135

		$	1,467	$	9,396

Schedule of effects of master netting arrangements on fair value of derivative contracts recorded in 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
January 29, 2016	Assets		Balance Sheet		in the Balance Sheet		Liabilities			Balance Sheet		in the Balance Sheet
Forward currency contracts	$	4,740	$	—	$	4,740	$	(3,202	)	$	—	$	(3,202	)
Cross currency contracts	2,360		—		2,360		—			—		—

	$	7,100	$	—	$	7,100	$	(3,202	)	$	—	$	(3,202	)

	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
January 30, 2015	Assets		Balance Sheet			in the Balance Sheet		Liabilities			Balance Sheet		in the Balance Sheet
Forward currency contracts	$	15,781	$	(1,755	)	$	14,026	$	—		$	—	$	—
Cross currency contracts	1,930		—			1,930		(440		)	—		(440		)

	$	17,711	$	(1,755	)	$	15,956	$	(440	)	$	—	$	(440	)

Fair Value Measurements (Tables)

3 Months Ended

Jan. 29, 2016

Fair Value Measurements

Assets and liabilities measured at fair value on a recurring basis

(Dollars in thousands)
January 29, 2016	Fair Value		Level 1		Level 2		Level 3
Assets:
Cash and cash equivalents	$	118,140	$	118,140	$	—	—
Forward currency contracts	4,740		—		4,740		—
Cross currency contracts	2,360		—		2,360		—

Total assets	$	125,240	$	118,140	$	7,100	—

Liabilities:
Forward currency contracts	$	3,202	—		$	3,202	—
Deferred compensation liabilities	1,524		—		1,524		—

Total liabilities	$	4,726	—		$	4,726	—

January 30, 2015	Fair Value		Level 1		Level 2		Level 3
Assets:
Cash and cash equivalents	$	82,914	$	82,914	$	—	—
Forward currency contracts	14,026		—		14,026		—
Cross currency contracts	1,930		—		1,930

Total assets	$	98,870	$	82,914	$	15,956	—

Liabilities:
Cross currency contracts	$	440	—		$	440	—
Deferred compensation liabilities	2,016		—		2,016		—

Total liabilities	$	2,456	—		$	2,456	—

October 31, 2015	Fair Value		Level 1		Level 2		Level 3
Assets:
Cash and cash equivalents	$	126,275	$	126,275	$	—	—
Forward currency contracts	3,173		—		3,173		—
Cross currency contracts	2,136		—		2,136		—

Total assets	$	131,584	$	126,275	$	5,309	—

Liabilities:
Forward currency contracts	$	1,711	—		$	1,711	—
Cross currency contracts	134		—		134		—
Deferred compensation liabilities	1,652		—		1,652		—

Total liabilities	$	3,497	—		$	3,497	—

Stock-Based Compensation (Details)	3 Months Ended		12 Months Ended
Stock-Based Compensation (Details)	Jan. 29, 2016 $ / shares	Jan. 30, 2015 $ / shares	Oct. 31, 2015 $ / shares
Employee 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
Award vesting period	3 years
Term of award	10 years
Employee 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
Employee Stock Option Awards \| Non-officer employees
Stock-Based Compensation
Award vesting period	3 years
Term of award	10 years
Stock Option Awards
Weighted-average valuation assumptions of stock-based compensation
Expected life of option in years	5 years 11 months 23 days		5 years 11 months 9 days
Expected stock price volatility (as a percent)	24.06%		29.66%
Risk-free interest rate (as a percent)	1.81%		1.61%
Expected dividend yield (as a percent)	1.24%		1.29%
Grant date per share weighted average fair value	$ 17.58		$ 16.81
Stock Option Awards \| Executive officers
Stock-Based Compensation
Portion of stock-based award that generally vest per year for employees and non-employee directors	0.333
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
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
Weighted-average valuation assumptions of stock-based compensation
Grant date per share weighted average fair value	$ 77.77	$ 65.68
Performance goal period	3 years
Performance Share Awards \| Maximum
Weighted-average valuation assumptions of stock-based compensation
Number of shares of common stock a participant receives based on the achievement of performance goals (as a percent)	200.00%
Performance Share Awards \| Minimum
Weighted-average valuation assumptions of stock-based compensation
Number of shares of common stock a participant receives based on the achievement of performance goals (as a percent)	0.00%
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
Weighted-average valuation assumptions of stock-based compensation
Grant date per share weighted average fair value	$ 77.24	$ 62.62

Per Share Data (Details) - shares	3 Months Ended
Per Share Data (Details) - shares	Jan. 29, 2016	Jan. 30, 2015
Basic
Weighted-average number of shares of common stock	54,977,000	55,997,000
Assumed issuance of contingent shares	37,000	46,000
Weighted-average number of shares of common stock and assumed issuance of contingent shares	55,014,000	56,043,000
Diluted
Weighted-average number of shares of common stock and assumed issuance of contingent shares	55,014,000	56,043,000
Effect of dilutive securities (in shares)	1,149,000	1,199,000
Weighted-average number of shares of common stock, assumed issuance of contingent shares, and effect of dilutive securities	56,163,000	57,242,000
Options, restricted stock, and restricted stock units, excluded from the diluted earnings per share	199,281	198,770

Inventories (Details) - USD ($) $ in Thousands	Jan. 29, 2016	Oct. 31, 2015	Jan. 30, 2015
Inventories
Raw materials and work in process	$ 115,373	$ 107,086	$ 123,677
Finished goods and service parts	370,703	291,468	308,208
Total FIFO value	486,076	398,554	431,885
Less: adjustment to LIFO value	64,040	64,040	67,495
Total	$ 422,036	$ 334,514	$ 364,390

Goodwill (Details) $ in Thousands	3 Months Ended
Goodwill (Details) $ in Thousands	Jan. 29, 2016 USD ($)
Changes in net carrying amount of goodwill
Goodwill at the beginning of the period	$ 195,533
Translation adjustments	(311)
Goodwill at the end of the period	195,222
Professional
Changes in net carrying amount of goodwill
Goodwill at the beginning of the period	184,766
Translation adjustments	(168)
Goodwill at the end of the period	184,598
Residential
Changes in net carrying amount of goodwill
Goodwill at the beginning of the period	10,767
Translation adjustments	(143)
Goodwill at the end of the period	$ 10,624

Other Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
Other Intangible Assets (Details) - USD ($) $ in Thousands	Jan. 29, 2016	Jul. 31, 2015	Oct. 31, 2015	Oct. 31, 2014	Jan. 30, 2015
Other Intangible Assets
Gross Carrying Amount	$ 164,824		$ 165,031
Accumulated Amortization	(53,321)		(50,852)
Net	111,503		114,179
Non-amortizable - trade names	4,620		4,831
Total other intangible assets, gross	169,444		169,862
Total other intangible assets, net	116,123		$ 119,010		$ 128,704
Amortization expense for intangible assets	3,200
Estimated amortization expense
Fiscal 2016 (remainder)	7,700
Fiscal 2017	9,500
Fiscal 2018	7,400
Fiscal 2019	6,600
Fiscal 2020	6,000
Fiscal 2021	5,600
After fiscal 2021	$ 68,700
Patents
Other Intangible Assets
Weighted-average Life (Years)	9 years 10 months 24 days	9 years 10 months 24 days	9 years 10 months 24 days	9 years 10 months 24 days
Gross Carrying Amount	$ 15,167		$ 15,191
Accumulated Amortization	(10,334)		(10,175)
Net	$ 4,833		$ 5,016
Non-compete agreements
Other Intangible Assets
Weighted-average Life (Years)	5 years 6 months	5 years 6 months	5 years 6 months	5 years 6 months
Gross Carrying Amount	$ 6,901		$ 6,922
Accumulated Amortization	(6,326)		(6,206)
Net	$ 575		$ 716
Customer-related
Other Intangible Assets
Weighted-average Life (Years)	19 years 1 month 6 days	19 years 1 month 6 days	19 years 1 month 6 days	19 years 1 month 6 days
Gross Carrying Amount	$ 84,502		$ 84,599
Accumulated Amortization	(11,346)		(10,316)
Net	$ 73,156		$ 74,283
Developed technology
Other Intangible Assets
Weighted-average Life (Years)	7 years 7 months 6 days	7 years 7 months 6 days	7 years 7 months 6 days	7 years 7 months 6 days
Gross Carrying Amount	$ 28,739		$ 28,804
Accumulated Amortization	(21,300)		(20,530)
Net	$ 7,439		$ 8,274
Trade names
Other Intangible Assets
Weighted-average Life (Years)	19 years 2 months 12 days	19 years 2 months 12 days	19 years 2 months 12 days	19 years 2 months 12 days
Gross Carrying Amount	$ 28,715		$ 28,715
Accumulated Amortization	(3,215)		(2,825)
Net	25,500		25,890
Other
Other Intangible Assets
Gross Carrying Amount	800		800
Accumulated Amortization	$ (800)		$ (800)

Investment in Joint Venture (Details) - USD ($)	3 Months Ended
Investment in Joint Venture (Details) - USD ($)	Jan. 29, 2016	Jan. 30, 2015
Red Iron Acceptance, LLC
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%
Investment in joint venture	$ 20,100,000
Maximum aggregate amount of products repossessed by Red Iron and the TCFIF Canadian affiliate, entity has agreed to repurchase in a calendar year	7,500,000
Maximum amount of recourse provided to joint venture for outstanding receivables	600,000
Net amount of new receivables financed for dealers and distributors	336,100,000	$ 239,200,000
Summarized financial information for Red Iron
Total assets	399,400,000
Total liabilities	354,800,000
Red Iron Acceptance, LLC \| TCFIF secured revolving credit facility
Schedule of Equity Method Investments
Maximum borrowing capacity under credit facility	$ 450,000,000

Warranty Guarantees (Details) - USD ($) $ in Thousands	3 Months Ended
Warranty Guarantees (Details) - USD ($) $ in Thousands	Jan. 29, 2016	Jan. 30, 2015
Warranty provisions, claims, and changes in estimates
Beginning balance	$ 70,734	$ 71,080
Warranty provisions	8,940	8,420
Warranty claims	(8,527)	(8,572)
Addition from an acquisition		786
Ending balance	$ 71,147	$ 71,714

Segment Data (Details) $ in Thousands	3 Months Ended
Segment Data (Details) $ in Thousands	Jan. 29, 2016 USD ($) segment	Jan. 30, 2015 USD ($)	Oct. 31, 2015 USD ($)
Financial information concerning the company's reportable segments
Number of reportable business segments \| segment	3
Net sales	$ 486,398	$ 474,211
Earnings (loss) before income taxes	53,697	41,973
Total assets	1,393,834	1,322,168	$ 1,303,658
Components of the loss before income taxes included in "Other"
Interest expense	(4,654)	(4,716)
Other	4,512	2,267
Earnings before income taxes	53,697	41,973
Professional
Financial information concerning the company's reportable segments
Net sales	338,836	339,706
Earnings (loss) before income taxes	61,592	55,659
Total assets	854,106	866,760
Components of the loss before income taxes included in "Other"
Earnings before income taxes	61,592	55,659
Residential
Financial information concerning the company's reportable segments
Net sales	144,284	134,743
Earnings (loss) before income taxes	16,739	13,727
Total assets	263,407	214,652
Components of the loss before income taxes included in "Other"
Earnings before income taxes	16,739	13,727
Other
Financial information concerning the company's reportable segments
Net sales	3,278	(238)
Earnings (loss) before income taxes	(24,634)	(27,413)
Total assets	276,321	240,756
Components of the loss before income taxes included in "Other"
Corporate expenses	(24,783)	(21,970)
Interest expense	(4,654)	(4,716)
Other	4,803	(727)
Earnings before income taxes	(24,634)	(27,413)
Intersegment \| Professional
Financial information concerning the company's reportable segments
Intersegment gross sales	(5,717)	(10,520)
Intersegment \| Residential
Financial information concerning the company's reportable segments
Intersegment gross sales	(68)	(84)
Intersegment \| Other
Financial information concerning the company's reportable segments
Intersegment gross sales	$ 5,785	$ 10,604

Stockholders' Equity - Components of Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	Jan. 29, 2016	Oct. 31, 2015	Jan. 30, 2015
Accumulated other comprehensive loss (AOCL)
Foreign currency translation adjustments	$ 29,393	$ 24,328	$ 20,818
Pension and postretirement benefits	5,112	5,386	5,110
Derivative instruments	1,188	129	(4,875)
Total accumulated other comprehensive loss	$ 35,693	$ 29,843	$ 21,053

- 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 - Components and Activity of Accumulated Other Comprehensive Loss (Details 2) - USD ($) $ in Thousands	3 Months Ended
	Jan. 29, 2016	Jan. 30, 2015
Components and activity of accumulated other comprehensive loss
Balance at the beginning of the period	$ (462,165)
Net current period other comprehensive loss (income)	5,850	$ 5,348
Balance at the end of the period	(459,929)	(413,840)
Accumulated Other Comprehensive Loss
Components and activity of accumulated other comprehensive loss
Balance at the beginning of the period	29,843	15,705
Other comprehensive loss before reclassifications	4,956	3,670
Amounts reclassified from AOCL	894	1,678
Net current period other comprehensive loss (income)	5,850	5,348
Balance at the end of the period	35,693	21,053
Foreign Currency Translation Adjustments
Components and activity of accumulated other comprehensive loss
Balance at the beginning of the period	24,328	12,536
Other comprehensive loss before reclassifications	5,065	8,282
Net current period other comprehensive loss (income)	5,065	8,282
Balance at the end of the period	29,393	20,818
Pension and Postretirement Benefits
Components and activity of accumulated other comprehensive loss
Balance at the beginning of the period	5,386	5,266
Other comprehensive loss before reclassifications	(274)	(156)
Net current period other comprehensive loss (income)	(274)	(156)
Balance at the end of the period	5,112	5,110
Cash Flow Derivative Instruments
Components and activity of accumulated other comprehensive loss
Balance at the beginning of the period	129	(2,097)
Other comprehensive loss before reclassifications	165	(4,456)
Amounts reclassified from AOCL	894	1,678
Net current period other comprehensive loss (income)	1,059	(2,778)
Balance at the end of the period	$ 1,188	$ (4,875)

Derivative Instruments and Hedging Activities - General, Notional Amount and Fair Value (Details) $ in Thousands, € in Millions, in Millions	3 Months Ended
	Jan. 29, 2016 USD ($) instrument	Jan. 29, 2016 RON ( ) instrument	Jan. 29, 2016 EUR (€) instrument	Jan. 30, 2015 USD ($)
Fair value of derivatives
Maximum time limit for cash flow hedge	2 years
Asset Derivatives	$ 7,100			$ 15,956
Liability Derivatives	3,202			440
Forward currency contracts
Fair value of derivatives
Asset Derivatives	4,740			14,026
Liability Derivatives	3,202
Forward currency contracts \| Derivatives Designated as Hedging Instruments
Fair value of derivatives
Notional amount	131,400
Forward currency contracts \| Derivatives Designated as Hedging Instruments \| Prepaid expenses
Fair value of derivatives
Asset Derivatives	3,393			9,125
Forward currency contracts \| Derivatives Designated as Hedging Instruments \| Accrued liabilities
Fair value of derivatives
Liability Derivatives	2,967
Forward currency contracts \| Derivatives Not Designated as Hedging Instruments \| Prepaid expenses
Fair value of derivatives
Asset Derivatives	1,347			4,901
Forward currency contracts \| Derivatives Not Designated as Hedging Instruments \| Accrued liabilities
Fair value of derivatives
Liability Derivatives	235
Cross currency contract
Fair value of derivatives
Asset Derivatives	$ 2,360			1,930
Liability Derivatives				440
Cross currency contract \| Derivatives Designated as Hedging Instruments
Fair value of derivatives
Number of derivative contracts held \| instrument	1	1	1
Notional amount		36.6	€ 8.5
Cross currency contract \| Derivatives Designated as Hedging Instruments \| Prepaid expenses
Fair value of derivatives
Asset Derivatives	$ 142
Cross currency contract \| Derivatives Designated as Hedging Instruments \| Accrued liabilities
Fair value of derivatives
Liability Derivatives				440
Cross currency contract \| Derivatives Not Designated as Hedging Instruments \| Prepaid expenses
Fair value of derivatives
Asset Derivatives	$ 2,218			$ 1,930

Derivative Instruments and Hedging Activities - Impact on Earnings (Details 2) - USD ($) $ in Thousands	3 Months Ended
	Jan. 29, 2016	Jan. 30, 2015
Derivative Instruments and Hedging Activities
Reclassification of gains from AOCI to earnings during the next 12 months on foreign currency contracts	$ 700
Gain (Loss) Recognized in Net Earnings	1,467	$ 9,396
Forward currency contracts \| Other income, net
Derivative Instruments and Hedging Activities
Gain (Loss) Recognized in Net Earnings	1,337	8,261
Cross currency contract \| Other income, net
Derivative Instruments and Hedging Activities
Gain (Loss) Recognized in Net Earnings	130	1,135
Cash flow hedging
Derivative Instruments and Hedging Activities
Gain (Loss) Recognized in OCI on Derivatives (Effective Portion)	(1,060)	2,776
Gain (Loss) Reclassified from AOCL into Income (Effective Portion)	894	1,678
Cash flow hedging \| Forward currency contracts \| Net sales
Derivative Instruments and Hedging Activities
Gain (Loss) Recognized in OCI on Derivatives (Effective Portion)	565	4,178
Gain (Loss) Reclassified from AOCL into Income (Effective Portion)	1,080	2,004
Cash flow hedging \| Forward currency contracts \| Cost of sales
Derivative Instruments and Hedging Activities
Gain (Loss) Recognized in OCI on Derivatives (Effective Portion)	(1,659)	(1,384)
Gain (Loss) Reclassified from AOCL into Income (Effective Portion)	(314)	(313)
Cash flow hedging \| 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)	(12)	227
Cash flow hedging \| Cross currency contract \| Other income, net
Derivative Instruments and Hedging Activities
Gain (Loss) Recognized in OCI on Derivatives (Effective Portion)	34	(18)
Gain (Loss) Reclassified from AOCL into Income (Effective Portion)	$ 128	$ (13)

Derivative Instruments and Hedging Activities - Effects of Master Netting Arrangements (Details 3) - USD ($) $ in Thousands	Jan. 29, 2016	Jan. 30, 2015
Assets
Gross Amounts of Recognized Assets	$ 7,100	$ 17,711
Gross Liabilities Offset in the Balance Sheet		(1,755)
Net Amounts of Assets Presented in the Balance Sheet	7,100	15,956
Liabilities
Gross Amounts of Recognized Liabilities	(3,202)	(440)
Net Amounts of Liabilities Presented in the Balance Sheet	(3,202)	(440)
Forward currency contracts
Assets
Gross Amounts of Recognized Assets	4,740	15,781
Gross Liabilities Offset in the Balance Sheet		(1,755)
Net Amounts of Assets Presented in the Balance Sheet	4,740	14,026
Liabilities
Gross Amounts of Recognized Liabilities	(3,202)
Net Amounts of Liabilities Presented in the Balance Sheet	(3,202)
Cross currency contract
Assets
Gross Amounts of Recognized Assets	2,360	1,930
Net Amounts of Assets Presented in the Balance Sheet	$ 2,360	1,930
Liabilities
Gross Amounts of Recognized Liabilities		(440)
Net Amounts of Liabilities Presented in the Balance Sheet		$ (440)

Fair Value Measurements (Details) - USD ($) $ in Thousands	Jan. 29, 2016	Oct. 31, 2015	Jan. 30, 2015
Liabilities:
Transfer of assets from level 1 to level 2	$ 0	$ 0	$ 0
Transfer of assets 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
Assets:
Cash and cash equivalents	118,140	126,275	82,914
Forward currency contracts	4,740	3,173	14,026
Cross currency contracts	2,360	2,136	1,930
Total assets	125,240	131,584	98,870
Liabilities:
Forward currency contracts	3,202	1,711
Cross currency contracts		134	440
Deferred compensation liabilities	1,524	1,652	2,016
Total liabilities	4,726	3,497	2,456
Measured on a recurring basis \| Level 1
Assets:
Cash and cash equivalents	118,140	126,275	82,914
Total assets	118,140	126,275	82,914
Measured on a recurring basis \| Level 2
Assets:
Forward currency contracts	4,740	3,173	14,026
Cross currency contracts	2,360	2,136	1,930
Total assets	7,100	5,309	15,956
Liabilities:
Forward currency contracts	3,202	1,711
Cross currency contracts		134	440
Deferred compensation liabilities	1,524	1,652	2,016
Total liabilities	$ 4,726	$ 3,497	$ 2,456

Related Party Transaction (Details) - 4% Unsecured Note, due November14, 2017 - USD ($)		3 Months Ended
	Nov. 14, 2014	Jan. 29, 2016
Debt
Aggregate principal amount of notes issued	$ 30,000,000
Interest rate percentage	4.00%
Principal payment on each anniversary date	$ 10,000,000
Principal payment		$ 10,000,000