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Document and Entity Information - USD ($) $ in Billions	12 Months Ended
Document and Entity Information - USD ($) $ in Billions	Oct. 31, 2016	Dec. 16, 2016	Apr. 29, 2016
Document and Entity Information
Entity Registrant Name	TORO CO
Entity Central Index Key	0000737758
Document Type	10-K
Document Period End Date	Oct. 31, 2016
Amendment Flag	false
Current Fiscal Year End Date	--10-31
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Public Float			$ 4.0
Entity Common Stock, Shares Outstanding		108,108,667
Document Fiscal Year Focus	2016
Document Fiscal Period Focus	FY

Consolidated Statements of Earnings - USD ($)
shares in Thousands, $ in Thousands

12 Months Ended

Oct. 31, 2016

Oct. 31, 2015

Oct. 31, 2014

Consolidated Statements of Earnings

Net sales

$ 2,392,175

$ 2,390,875

$ 2,172,691

Cost of sales

1,517,580

1,554,940

1,399,420

Gross profit

874,595

835,935

773,271

Selling, general, and administrative expense

540,199

536,821

510,114

Operating earnings

334,396

299,114

263,157

Interest expense

(19,336)

(18,757)

(15,426)

Other income, net

15,400

10,674

8,714

Earnings before income taxes

330,460

291,031

256,445

Provision for income taxes

99,466

89,440

82,575

Net earnings

$ 230,994

$ 201,591

$ 173,870

Basic net earnings per share of common stock (in dollars per share)

^[1]

$ 2.10

$ 1.81

$ 1.54

Diluted net earnings per share of common stock (in dollars per share)

^[1]

$ 2.06

$ 1.78

$ 1.51

Weighted-average number of shares of common stock outstanding - Basic (in shares)

^[1]

109,834

111,130

112,718

Weighted-average number of shares of common stock outstanding - Diluted (in shares)

^[1]

111,987

113,514

115,255

[1]	Shares and per share data have been adjusted for all periods presented to reflect a two-for-one stock split effective September 16, 2016

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Oct. 31, 2016	Oct. 31, 2015	Oct. 31, 2014
Consolidated Statements of Comprehensive Income
Net earnings	$ 230,994	$ 201,591	$ 173,870
Other comprehensive (loss) income, net of tax:
Foreign currency translation adjustments, net of tax of $(161), $(51), and $(34), respectively	(7,102)	(11,792)	(4,758)
Pension and retiree medical benefits, net of tax of $(1,294), $299, and $10, respectively	(973)	(120)	(1,583)
Derivative instruments, net of tax of $(605), $(933), and $2,350, respectively	(518)	(2,226)	3,206
Other comprehensive (loss) income	(8,593)	(14,138)	(3,135)
Comprehensive income	$ 222,401	$ 187,453	$ 170,735

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Oct. 31, 2016	Oct. 31, 2015	Oct. 31, 2014
Consolidated Statements of Comprehensive Income
Foreign currency translation adjustments, tax	$ (161)	$ (51)	$ (34)
Pension and retiree medical benefits, tax	(1,294)	299	10
Derivative instruments, tax	$ (605)	$ (933)	$ 2,350

Consolidated Balance Sheets - USD ($) $ in Thousands	Oct. 31, 2016	Oct. 31, 2015
ASSETS
Cash and cash equivalents	$ 273,555	$ 126,275
Receivables, net:
Customers net of allowances (2016 - $1,609; 2015 - $1,378)	157,908	171,172
Other	5,357	5,841
Total receivables, net	163,265	177,013
Inventories, net	307,034	334,514
Prepaid expenses and other current assets	35,155	34,782
Total current assets	779,009	672,584
Property, plant, and equipment, net	222,038	224,995
Long-term deferred income taxes	57,228	66,663
Goodwill	194,782	195,533
Other intangible assets, net	108,093	119,010
Other assets	26,368	24,873
Total assets	1,387,518	1,303,658
LIABILITIES AND STOCKHOLDERS' EQUITY
Current portion of long-term debt	22,484	23,134
Short-term debt		222
Accounts payable	174,668	152,017
Accrued liabilities
Warranty	72,158	70,734
Advertising and marketing programs	81,315	76,689
Compensation and benefit costs	52,139	56,269
Insurance	7,502	6,814
Income taxes		4,275
Other	53,573	53,580
Total current liabilities	463,839	443,734
Long-term debt, less current portion	331,423	354,818
Deferred revenue	11,830	11,365
Deferred income taxes		7
Other long-term liabilities	30,391	31,569
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 108,427,393 shares as of October 31, 2016 and 109,301,832 shares as of October 31, 2015	108,427	109,302
Retained earnings	480,044	382,706
Accumulated other comprehensive loss	(38,436)	(29,843)
Total stockholders' equity	550,035	462,165
Total liabilities and stockholders' equity	$ 1,387,518	$ 1,303,658

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Oct. 31, 2016	Oct. 31, 2015
Consolidated Balance Sheets
Customers, allowance for doubtful accounts (in dollars)	$ 1,609	$ 1,378

Consolidated Balance Sheets (Parenthetical 2) - $ / shares

Oct. 31, 2016

Oct. 31, 2015

Preferred stock

Preferred stock, par value (in dollars per share)

$ 1.00

Preferred stock, issued (in shares)

Preferred stock, outstanding (in shares)

Common stock

Common stock, par value (in dollars per share)

$ 1.00

Common stock, authorized (in shares)

175,000,000

Common stock, issued (in shares)

^[1]

108,427,393

109,301,832

Common stock, outstanding (in shares)

^[1]

108,427,393

109,301,832

Voting preferred stock

Preferred stock

Preferred stock, authorized (in shares)

1,000,000

Non-voting preferred stock

Preferred stock

Preferred stock, authorized (in shares)

850,000

[1]	Shares and per share data have been adjusted for all periods presented to reflect a two-for-one stock split effective September 16, 2016

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Oct. 31, 2016	Oct. 31, 2015	Oct. 31, 2014
Cash flows from operating activities:
Net earnings	$ 230,994	$ 201,591	$ 173,870
Adjustments to reconcile net earnings to net cash provided by operating activities:
Provision for depreciation, amortization, and impairment loss	64,097	63,143	53,138
Non-cash income from finance affiliate	(9,588)	(8,353)	(7,262)
Stock-based compensation expense	10,637	10,836	11,291
Decrease/(increase) in deferred income taxes	10,075	200	(4,700)
Other	(464)	(128)	28
Changes in operating assets and liabilities, net of effect of acquisitions:
Receivables, net	15,785	(25,647)	(5,042)
Inventories, net	23,192	(52,656)	(37,183)
Prepaid expenses and other assets	(905)	(607)	(3,245)
Accounts payable, accrued liabilities, deferred revenue, and other long-term liabilities	18,119	48,490	1,470
Net cash provided by/(used in) operating activities	361,942	236,869	182,365
Cash flows from investing activities:
Purchases of property, plant, and equipment	(50,723)	(56,374)	(71,138)
Proceeds from asset disposals	310	179	479
Distributions from finance affiliate, net	9,848	4,264	5,672
Proceeds from sale of a business	1,500
Acquisition, net of cash acquired		(198,329)	(715)
Net cash provided by/(used in) investing activities	(39,065)	(250,260)	(65,702)
Cash flows from financing activities:
(Repayments of)/increase in short-term debt	(1,161)	(21,283)	19,498
(Repayments of)/ increase in long-term debt	(24,107)	(7,227)	129,557
Excess tax benefits from stock-based awards	12,495	8,459	8,857
Proceeds from exercise of stock options	20,226	9,203	7,192
Purchases of Toro common stock	(111,999)	(106,964)	(103,039)
Dividends paid on Toro common stock	(65,890)	(55,549)	(45,048)
Net cash provided by/(used in) financing activities	(170,436)	(173,361)	17,017
Effect of exchange rates on cash and cash equivalents	(5,161)	(1,846)	(1,800)
Net increase/(decrease) in cash and cash equivalents	147,280	(188,598)	131,880
Cash and cash equivalents as of the beginning of the fiscal period	126,275	314,873	182,993
Cash and cash equivalents as of the end of the fiscal period	273,555	126,275	314,873
Cash paid during the fiscal year for:
Interest	19,883	18,133	16,925
Income taxes	82,225	77,043	76,325
Shares issued in connection with stock-based compensation plans	$ 6,985	7,705	6,619
Payment obligations issued in connection with acquisitions		$ 31,161	$ 420

Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Common Stock	Retained Earnings	Accumulated Other Comprehensive Loss	Total
Balance at Oct. 31, 2013	$ 113,578	$ 257,730	$ (12,570)	$ 358,738
Increase (Decrease) in Stockholders' Equity
Cash dividends paid on common stock - $.60, $0.50, and $0.40 per share during 2016, 2015, and 2014, respectively		(45,048)		(45,048)
Issuance of 1,801,136, 1,096,972, and 1,065,384 shares for stock options exercised and restricted stock units vested during 2016, 2015, and 2014, respectively	1,066	4,446		5,512
Stock-based compensation expense		11,291		11,291
Contribution of stock to a deferred compensation trust		1,681		1,681
Purchase of 2,675,575, 3,151,978, and 3,288,460 shares of common stock during 2016, 2015, and 2014, respectively	(3,288)	(99,751)		(103,039)
Excess tax benefits from stock-based awards		8,857		8,857
Other comprehensive loss			(3,135)	(3,135)
Net earnings		173,870		173,870
Balance at Oct. 31, 2014	111,356	313,076	(15,705)	408,727
Increase (Decrease) in Stockholders' Equity
Cash dividends paid on common stock - $.60, $0.50, and $0.40 per share during 2016, 2015, and 2014, respectively		(55,549)		(55,549)
Issuance of 1,801,136, 1,096,972, and 1,065,384 shares for stock options exercised and restricted stock units vested during 2016, 2015, and 2014, respectively	1,098	7,138		8,236
Stock-based compensation expense		10,836		10,836
Contribution of stock to a deferred compensation trust		967		967
Purchase of 2,675,575, 3,151,978, and 3,288,460 shares of common stock during 2016, 2015, and 2014, respectively	(3,152)	(103,812)		(106,964)
Excess tax benefits from stock-based awards		8,459		8,459
Other comprehensive loss			(14,138)	(14,138)
Net earnings		201,591		201,591
Balance at Oct. 31, 2015	109,302	382,706	(29,843)	462,165
Increase (Decrease) in Stockholders' Equity
Cash dividends paid on common stock - $.60, $0.50, and $0.40 per share during 2016, 2015, and 2014, respectively		(65,890)		(65,890)
Issuance of 1,801,136, 1,096,972, and 1,065,384 shares for stock options exercised and restricted stock units vested during 2016, 2015, and 2014, respectively	1,801	17,225		19,026
Stock-based compensation expense		10,637		10,637
Contribution of stock to a deferred compensation trust		1,200		1,200
Purchase of 2,675,575, 3,151,978, and 3,288,460 shares of common stock during 2016, 2015, and 2014, respectively	(2,676)	(109,323)		(111,999)
Excess tax benefits from stock-based awards		12,495		12,495
Other comprehensive loss			(8,593)	(8,593)
Net earnings		230,994		230,994
Balance at Oct. 31, 2016	$ 108,427	$ 480,044	$ (38,436)	$ 550,035

Consolidated Statements of Stockholders' Equity (Parenthetical) - $ / shares

12 Months Ended

Oct. 31, 2016

Oct. 31, 2015

Oct. 31, 2014

Consolidated Statements of Stockholders' Equity

Cash dividends paid on common stock (in dollars per share)

^[1]

$ 0.60

$ 0.50

$ 0.40

Issuance of shares under stock-based compensation plans (in shares)

^[1]

1,801,136

1,096,972

1,065,384

Purchase of shares of common stock (in shares)

^[1]

2,675,575

3,151,978

3,288,460

[1]	Shares and per share data have been adjusted for all periods presented to reflect a two-for-one stock split effective September 16, 2016

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND RELATED DATA

12 Months Ended

Oct. 31, 2016

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND RELATED DATA

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND RELATED DATA

Basis of Presentation and Consolidation

The accompanying consolidated financial statements include the accounts of the company and its wholly owned subsidiaries. The company uses the equity method to account for investments over which it has the ability to exercise significant influence over operating and financial policies. Consolidated net earnings include the company's share of the net earnings (losses) of these companies. The cost method is used to account for investments in companies that the company does not control and for which it does not have the ability to exercise significant influence over operating and financial policies. These investments are recorded at cost. All intercompany accounts and transactions have been eliminated from the consolidated financial statements.

Stock Split

On August 18, 2016, the company announced that its Board of Directors declared a two-for-one stock split of the company's common stock, effected in the form of a 100 percent stock dividend. The stock split dividend was distributed or paid on September 16, 2016, to stockholders of record as of September 1, 2016. Earnings and dividends declared per share and weighted average shares outstanding are presented in this report after the effect of the 100 percent stock dividend. The two-for-one stock split is reflected in the share amounts in all periods presented in this Report.

Accounting Estimates

In preparing the consolidated financial statements in conformity with United States generally accepted accounting principles ("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, earnout 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.

Cash and Cash Equivalents

The company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents and are stated at cost, which approximates fair value. As of October 31, 2016, cash and short-term investments held by the company's foreign subsidiaries that are not available to fund domestic operations unless repatriated were $105,515.

Receivables

The company's financial exposure to collection of accounts receivable is reduced due to its Red Iron Acceptance, LLC ("Red Iron") joint venture with TCF Inventory Finance, Inc. ("TCFIF"), as further discussed in Note 3. For receivables not serviced through Red Iron, the company grants credit to customers in the normal course of business and performs on-going credit evaluations of customers. Receivables are recorded at original carrying amount less reserves for estimated uncollectible accounts, as described below.

Allowance for Doubtful Accounts

The company estimates the balance of allowance for doubtful accounts by analyzing the age of accounts and notes receivable balances and applying historical write-off trend rates. The company also estimates separately specific customer balances when it is deemed probable that the balance is uncollectible. Account balances are charged off against the allowance when all collection efforts have been exhausted.

Inventory Valuations

Inventories are valued at the lower of cost or net realizable value, with cost determined by the last-in, first-out ("LIFO") method for a majority of the company's inventories. The first-in, first-out ("FIFO") method is used for all other inventories, constituting 33 percent and 26 percent of total inventories as of October 31, 2016 and 2015, respectively. 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 planned production, as well as planned and historical sales of the inventory. During fiscal 2016 and 2015, LIFO layers were reduced, which resulted in charging lower inventory costs prevailing in previous years to cost of sales, thus reducing cost of sales by $60 and $1,348, respectively.

Inventories as of October 31 were as follows:


		2016		2015

Raw materials and work in process	$	90,463	$	107,086
Finished goods and service parts		274,929		291,468

Total FIFO value		365,392		398,554
Less: adjustment to LIFO value		58,358		64,040

Total inventories, net	$	307,034	$	334,514

Property and Depreciation

Property, plant, and equipment are carried at cost. The company provides for depreciation of plant and equipment utilizing the straight-line method over the estimated useful lives of the assets. Buildings, including leasehold improvements, are generally depreciated over 10 to 40 years, and equipment over two to seven years. Tooling costs are generally depreciated over three to five years using the straight-line method. Software and website development costs are generally amortized over two to five years utilizing the straight-line method. Expenditures for major renewals and improvements, which substantially increase the useful lives of existing assets, are capitalized, and maintenance and repairs are charged to operating expenses as incurred. Interest is capitalized during the construction period for significant capital projects. During the fiscal years ended October 31, 2016, 2015, and 2014, the company capitalized $549, $897, and $1,710 of interest, respectively.

Property, plant, and equipment as of October 31 was as follows:


		2016		2015

Land and land improvements	$	34,744	$	34,240
Buildings and leasehold improvements		182,121		170,342
Machinery and equipment		325,595		315,884
Tooling		200,842		187,652
Computer hardware and software		85,173		81,131
Construction in process		9,561		15,349

Subtotal		838,036		804,598
Less: accumulated depreciation		615,998		579,603

Total property, plant, and equipment, net	$	222,038	$	224,995

During fiscal years 2016, 2015, and 2014, the company recorded depreciation expense of $53,355, $50,322, and $47,136, respectively.

Goodwill and Indefinite-Life Intangible Assets

Goodwill represents the cost of acquisitions in excess of the fair values assigned to identifiable net assets acquired. Goodwill is assigned to reporting units based upon the expected benefit of the synergies of the acquisition. Goodwill and some trade names, which are considered to have indefinite lives, are not amortized; however, the company reviews them for impairment annually during each fiscal fourth quarter or more frequently if changes in circumstances or occurrence of events suggest the fair value may not be recoverable.

The company reviewed the fair value of its reporting units that have goodwill on their respective balance sheets and compared these fair values to the respective carrying amounts during the fourth quarter of fiscal 2016. The company determined that it has nine reporting units, which are the same as its nine operating segments. Seven reporting units contain goodwill on their respective balance sheets. As of August 26, 2016, the company performed an analysis of qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount as a basis for determining whether it is necessary to perform a two-step goodwill impairment test. Based on the company's analysis of qualitative factors, the company determined that it was not necessary to perform a two-step goodwill impairment test for any of its reporting units.

As of August 26, 2016, the company also performed an assessment of its indefinite-life intangible assets, which consist of certain trade names. The company's estimate of the fair value of its trade names are based on a discounted cash flow model using inputs which included: projected revenues from the company's forecasting process; assumed royalty rates that could be payable if the company did not own the trade name; and a discount rate. Based on this analysis, which was also performed in prior fiscal years, the company concluded its indefinite-life intangible assets were not impaired during fiscal 2016, 2015, or 2014.

Other Long-Lived Assets

Other long-lived assets include property, plant, and equipment and definite-life intangible assets, which are identifiable assets that arose from purchase acquisitions consisting primarily of patents, non-compete agreements, customer relationships, trade names, and developed technology and are amortized on a straight-line basis over periods ranging from 1.5 to 20 years. The company reviews other long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset (or asset group) may not be recoverable. An impairment loss is recognized when estimated undiscounted future cash flows from the operation or disposition of the asset group are less than the carrying amount of the asset group. Asset groups have identifiable cash flows and are largely independent of other asset groups. Measurement of an impairment loss is based on the excess of the carrying amount of the asset group over its fair value. Fair value is measured using a discounted cash flow model or independent appraisals, as appropriate. For long-lived assets to be abandoned, the company tests for potential impairment. If the company commits to a plan to abandon a long-lived asset before the end of its previously estimated useful life, depreciation estimates are revised.

Based on the company's impairment analysis for definite-life intangible assets, the company did not have any impairment losses of other long-lived assets. For fiscal 2015, the company wrote down $1,383 of other long-lived assets. Additionally, based on the company's analysis of estimated useful lives of property, plant, and equipment, the company had $0, $531, and $0 of accelerated depreciation expense during fiscal 2016, 2015, and 2014, respectively.

Accounts Payable

The company has a customer-managed service agreement with a third party to provide a web-based platform that facilitates participating suppliers' ability to finance payment obligations from the company with a designated third party financial institution. Participating suppliers may, at their sole discretion, make offers to finance one or more payment obligations of the company prior to their scheduled due dates at a discounted price to a participating financial institution.

The company's obligations to its suppliers, including amounts due and scheduled payment dates, are not affected by suppliers' decisions to finance amounts under this arrangement. As of October 31, 2016 and 2015, $16,249 and $16,101, respectively, of the company's outstanding payment obligations had been placed on the accounts payable tracking system.

Insurance

The company is self-insured for certain losses relating to medical, dental, and workers' compensation claims, and certain product liability occurrences. Specific stop loss coverages are provided for catastrophic claims in order to limit exposure to significant claims. Losses and claims are charged to operations when it is probable a loss has been incurred and the amount can be reasonably estimated. Self-insured liabilities are based on a number of factors, including historical claims experience, an estimate of claims incurred but not reported, demographic and severity factors, and utilizing valuations provided by independent third-party actuaries.

Accrued Warranties

The company provides an accrual for estimated future warranty costs at the time of sale. The company also establishes accruals for major rework campaigns. The amount of warranty accruals is based primarily 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, and the historical length of time between the sale and resulting warranty claim. The company periodically assesses the adequacy of its warranty accruals based on changes in these factors and records any necessary adjustments if actual claims experience indicates that adjustments are necessary.

The changes in accrued warranties were as follows:


Fiscal years ended October 31		2016			2015

Beginning balance	$	70,734		$	71,080
Warranty provisions		44,260			41,747
Warranty claims		(41,102	)		(39,730	)
Changes in estimates		(1,734	)		(2,363	)

Ending balance	$	72,158		$	70,734

Derivatives

Derivatives, consisting mainly of forward currency contracts, are used to hedge most foreign currency transactions, including forecasted sales and purchases denominated in foreign currencies. The company also in the past utilized and may in the future utilize cross currency swaps to offset foreign currency intercompany loan exposures. Derivatives are recognized on the consolidated balance sheet at fair value. If the derivative is designated as a cash flow hedge, the effective portion of the change in the fair value of the derivative is recorded as a component of other comprehensive income within the consolidated statements of comprehensive income and the consolidated statements of stockholders' equity, and recognized in earnings when the hedged item affects earnings. Derivatives that do not meet the requirements for hedge accounting are adjusted to fair value through other income, net in the consolidated statements of earnings.

Foreign Currency Translation and Transactions

The functional currency of the company's foreign operations is generally the applicable local currency. The functional currency is translated into U.S. dollars for balance sheet accounts using current exchange rates in effect as of the balance sheet date and for revenue and expense accounts using a weighted-average exchange rate during the fiscal year. The translation adjustments are deferred as a component of other comprehensive income (loss) within the consolidated statements of comprehensive income and the consolidated statements of stockholders' equity. Gains or losses resulting from transactions denominated in foreign currencies are included in other income, net in the consolidated statements of earnings.

Income Taxes

Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years that those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income tax expense in the period that includes the enactment date. A valuation allowance is provided when, in management's judgment, it is more likely than not that some portion or all of the deferred tax asset will not be realized. The company has reflected the necessary deferred tax assets and liabilities in the accompanying consolidated balance sheets. Management believes the future tax deductions will be realized principally through carryback to taxable income in prior years, future reversals of existing taxable temporary differences, and future taxable income.

The company recognizes the effect of income tax positions only if those positions are more likely than not of being sustained. Recognized income tax positions are measured at the largest amount that is greater than 50 percent likely of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. The company also records interest and penalties related to unrecognized tax benefits in income tax expense.

Revenue Recognition

The company recognizes revenue for product sales when persuasive evidence of an arrangement exists, title and risk of ownership passes to the customer, the sales price is fixed or determinable, and collectability is probable. These criteria are typically met at the time product is shipped, or in the case of certain agreements, when product is delivered. A provision is made at the time the related revenue is recognized for estimated product returns, floor plan costs, rebates, and other sales promotion expenses. Sales, use, value-added, and other excise taxes are not recognized in revenue. Freight revenue billed to customers is included in net sales.

The company ships some of its products to a key retailer's seasonal distribution centers on a consignment basis. The company retains title to its products stored at the seasonal distribution centers. As the company's products are removed from the seasonal distribution centers by the key retailer and shipped to the key retailer's stores, title passes from the company to the key retailer. At that time, the company invoices the key retailer and recognizes revenue for these consignment transactions. The company does not offer a right of return for products shipped to the key retailer's stores from the seasonal distribution centers. From time to time, the company also stores inventory on a consignment basis at other customers' locations. The amount of consignment inventory as of October 31, 2016 and 2015 was $22,443 and $23,566, respectively.

Revenue earned from service and maintenance contracts is recognized ratably over the contractual period. Revenue from extended warranty programs is deferred at the time the contract is sold and amortized into net sales using the straight-line method over the extended warranty period.

Sales Promotions and Incentives

At the time of sale, the company records an estimate for sales promotion and incentive costs. Examples of sales promotion and incentive programs include off-invoice discounts, rebate programs, volume discounts, retail financing support, commissions, and other sales discounts and promotional programs. The estimates of sales promotion and incentive costs are based on the terms of the arrangements with customers, historical payment experience, field inventory levels, volume purchases, and expectations for changes in relevant trends in the future. The expense of each program is classified as a reduction from gross sales or as a component of selling, general, and administrative expense.

Cost of Sales

Cost of sales primarily comprises direct materials and supplies consumed in the manufacture of product, as well as manufacturing labor, depreciation expense, and direct overhead expense necessary to convert purchased materials and supplies into finished product. Cost of sales also includes inbound freight costs, outbound freight costs for shipping products to customers, obsolescence expense, cost of services provided, and cash discounts on payments to vendors.

Selling, General, and Administrative Expense

Selling, general, and administrative expense primarily comprises payroll and benefit costs, occupancy and operating costs of distribution and corporate facilities, warranty expense, depreciation and amortization expense on non-manufacturing assets, advertising and marketing expenses, selling expenses, engineering and research costs, information systems costs, incentive and profit sharing expense, and other miscellaneous administrative costs, such as legal costs for internal and outside services that are expensed as incurred.

Cost of Financing Distributor / Dealer Inventory

The company enters into limited inventory repurchase agreements with a third-party financing company and Red Iron. The company has repurchased immaterial amounts of inventory under these repurchase agreements over the last three fiscal years. However, an adverse change in retail sales could cause this situation to change, and thereby require the company to repurchase a portion of financed product. See Note 13 for additional information regarding the company's repurchase arrangements.

Included as a reduction to net sales are costs associated with programs under which the company shares the expense of financing distributor and dealer inventories, referred to as floor plan expenses. This charge represents interest for a pre-established length of time based on a predefined rate from a contract with third party financing sources to finance distributor and dealer inventory purchases. These financing arrangements are used by the company as a marketing tool to assist customers to buy inventory. The financing costs for distributor and dealer inventories were $28,773, $24,130, and $21,080 for the fiscal years ended October 31, 2016, 2015, and 2014, respectively.

Advertising

General advertising expenditures are expensed the first time advertising takes place. Production costs associated with advertising are expensed in the period incurred. Cooperative advertising represents expenditures for shared advertising costs that the company reimburses to customers and is classified as a component of selling, general, and administrative expense. These obligations are accrued and expensed when the related revenues are recognized in accordance with the programs established for various product lines. Advertising costs were $41,837, $42,843, and $43,590 for the fiscal years ended October 31, 2016, 2015, and 2014, respectively.

Stock-Based Compensation

The company's stock-based compensation awards are generally granted to executive officers, other employees, and non-employee members of the company's Board of Directors, and include performance share awards that are contingent on the achievement of performance goals of the company, non-qualified stock options, restricted stock units, and restricted stock awards. Generally, compensation expense equal to the grant date fair value is recognized for these awards over the vesting period and is classified in selling, general and administrative expense. 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 Toro Company Amended and Restated 2010 Equity and Incentive Plan, as amended and restated (the "2010 plan"). In that case, the fair value of the options is expensed in the fiscal year of grant because generally 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. See Note 10 for additional information regarding stock-based compensation plans.

Net Earnings Per Share

Basic net earnings per share is calculated using net earnings available to common stockholders divided by the weighted-average number of shares of common stock outstanding during the year plus the assumed issuance of contingent shares. Diluted net earnings per share is similar to basic net earnings per share except that the weighted-average number of shares of common stock outstanding plus the assumed issuance of contingent shares is increased to include the number of additional shares of common stock that would have been outstanding assuming the issuance of all potentially dilutive shares, such as common stock to be issued upon exercise of options, contingently issuable shares, and restricted stock units.

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


(Shares in thousands)
Basic	2016	2015	2014

Weighted-average number of shares of common stock	109,816	111,107	112,692
Assumed issuance of contingent shares	18	23	26

Weighted-average number of shares of common stock and assumed issuance of contingent shares	109,834	111,130	112,718


Diluted

Weighted-average number of shares of common stock and assumed issuance of contingent shares	109,834	111,130	112,718
Effect of dilutive securities	2,153	2,384	2,537

Weighted-average number of shares of common stock, assumed issuance of contingent shares, and effect of dilutive securities	111,987	113,514	115,255

Share data has been adjusted for all periods presented to reflect a two-for-one stock split effective September 16, 2016.

Incremental shares from options and restricted stock units are computed by the treasury stock method. Options for the purchase of 310,566, 290,120, and 519,850 shares of common stock during fiscal 2016, 2015, and 2014, respectively, were excluded from the computation of diluted net earnings per share because they were anti-dilutive.

Cash Flow Presentation

The consolidated statements of cash flows are prepared using the indirect method, which reconciles net earnings to cash flow from operating activities. The necessary adjustments include the removal of timing differences between the occurrence of operating receipts and payments and their recognition in net earnings. The adjustments also remove from operating activities cash flows arising from investing and financing activities, which are presented separately from operating activities. Cash flows from foreign currency transactions and operations are translated at an average exchange rate for the period. Cash paid for acquisitions is classified as investing activities.

New Accounting Pronouncements Adopted

In February 2015, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2015-02, Consolidation (Topic 810), which amends certain requirements for determining whether a variable interest entity must be consolidated. The company adopted this amended guidance in the fourth quarter of its fiscal 2016. The adoption of this guidance did not change the company's conclusion on consolidation of a variable interest entity.

In November 2015, the FASB issued ASU No. 2015-17, Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes. This amended guidance requires an entity to present deferred tax assets and liabilities, along with any related valuation allowance, as non-current on the Consolidated Balance Sheets. As a result of the new guidance, each jurisdiction will now only have one net non-current deferred tax asset or liability. The new guidance does not change the existing requirement that only permits offsetting deferred tax assets and liabilities within a single jurisdiction. Entities have the option to apply the new guidance prospectively or retrospectively. This amended guidance was retrospectively adopted in the fourth quarter of fiscal 2016. Prior periods have been retrospectively adjusted for the adoption of this amended guidance and are reclassified in the Consolidated Balance Sheets presentation of deferred tax balances as of October 31, 2015 by including $38,095 of previously classified current deferred tax assets as non-current.

ACQUISITION

12 Months Ended

Oct. 31, 2016

ACQUISITION

ACQUISITION

The purchase price of this acquisition was allocated to the identifiable assets acquired and liabilities assumed based on estimates of their fair value, with the excess purchase price for acquisitions recorded as goodwill.

- Definition

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

+ References

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+ Details

INVESTMENT IN JOINT VENTURE

12 Months Ended

Oct. 31, 2016

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 primarily provides inventory financing to certain distributors and dealers of the company's products in the U.S. As of October 31, 2016, the initial term of Red Iron would have expired on October 31, 2017, unless it would have been extended for an additional two year term. See Note 17 as the Red Iron arrangement, including the initial term, were amended subsequent to October 31, 2016. 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. The company and TCFIF each 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. As of October 31, 2016, Red Iron borrowed the remaining requisite estimated cash utilizing a $450,000 secured revolving credit facility established under a credit agreement between Red Iron and TCFIF. The company's total investment in Red Iron as of October 31, 2016 and 2015 was $18,719 and $18,979, respectively. 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 $7,500 in a calendar year.

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 receivables financed for dealers and distributors under this arrangement during fiscal 2016, 2015, and 2014 was $1,713,588, $1,430,855, and $1,280,505, respectively.

Summarized financial information for Red Iron is presented as follows:


For the twelve months ended October 31		2016		2015		2014

Revenue	$	31,812	$	27,483	$	22,678
Net income		21,306		18,598		16,139


As of October 31		2016		2015

Finance receivables, net	$	370,169	$	366,397
Other assets		4,416		5,928
Total liabilities		332,985		330,149

OTHER INCOME, NET

12 Months Ended

Oct. 31, 2016

OTHER INCOME, NET

OTHER INCOME, NET

Other income (expense) is as follows:


Fiscal years ended October 31		2016		2015			2014

Interest income	$	827	$	494		$	465
Retail financing revenue		1,087		1,086			1,077
Foreign currency exchange rate gain/(loss)		974		(324	)		(1,006	)
Gain on sale of business		340		—			—
Noncash income from finance affiliate		9,588		8,353			7,262
Litigation recovery, net		1,300		125			127
Miscellaneous		1,284		940			789

Total other income, net	$	15,400	$	10,674		$	8,714

GOODWILL AND OTHER INTANGIBLE ASSETS

12 Months Ended

Oct. 31, 2016

GOODWILL AND OTHER INTANGIBLE ASSETS

GOODWILL AND OTHER INTANGIBLE ASSETS

Goodwill — The changes in the net carrying amount of goodwill for fiscal 2016 and 2015 were as follows:


		Professional Segment			Residential Segment			Total

Balance as of October 31, 2014	$	80,946		$	10,905		$	91,851

Goodwill acquired		103,028			—			103,028
Translation and other adjustments		792			(138	)		654

Balance as of October 31, 2015		184,766			10,767			195,533

Translation adjustments		(428	)		(323	)		(751	)

Balance as of October 31, 2016	$	184,338		$	10,444		$	194,782

Other Intangible Assets — The components of other intangible assets were as follows:


October 31, 2016	Weighted- average Life (Years)		Gross Carrying Amount		Accumulated Amortization			Net

Patents	3.1	$	15,151	$	(10,866	)	$	4,285
Non-compete agreements	0.4		6,886		(6,681	)		205
Customer-related	16.5		84,353		(14,434	)		69,919
Developed technology	1.4		28,648		(23,712	)		4,936
Trade names	17.1		28,715		(4,235	)		24,480
Other			800		(800	)		—

Total amortizable			164,553		(60,728	)		103,825

Non-amortizable - trade names			4,268		—			4,268

Total other intangible assets, net		$	168,821	$	(60,728	)	$	108,093


October 31, 2015	Weighted- average Life (Years)		Gross Carrying Amount		Accumulated Amortization			Net

Patents	3.6	$	15,191	$	(10,175	)	$	5,016
Non-compete agreements	0.9		6,922		(6,206	)		716
Customer-related	17.4		84,599		(10,316	)		74,283
Developed technology	2.3		28,804		(20,530	)		8,274
Trade names	18.0		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 for the fiscal years ended October 31, 2016, 2015, and 2014 was $9,550, $11,438, and $6,002, respectively. Estimated amortization expense for the succeeding fiscal years is as follows: 2017, $9,458; 2018, $7,440; 2019, $6,562; 2020, $6,006; 2021, $5,601; and after 2021, $68,758.

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

+ References + Details

SHORT-TERM CAPITAL RESOURCES

12 Months Ended

Oct. 31, 2016

SHORT-TERM CAPITAL RESOURCES

SHORT-TERM CAPITAL RESOURCES

As of October 31, 2016, the company had a $150,000 unsecured senior five-year revolving credit facility that expires in October 2019. Included in this $150,000 revolving credit facility is a sublimit of $20,000 for standby letters of credit and a sublimit for swingline loans of $20,000. At the election of the company, and the approval of the named borrowers on the revolving credit facility and the election of the lenders to fund such increase, the aggregate maximum principal amount available under the facility may be increased by an amount up to $100,000 in aggregate. Funds are available under the revolving credit facility for working capital, capital expenditures, and other lawful purposes, including, but not limited to, acquisitions and stock repurchases. Interest expense on this credit line is determined based on a LIBOR rate (or other rates quoted by the Administrative Agent, Bank of America, N.A.) plus a basis point spread defined in the credit agreement. The company's non-U.S. operations also maintain unsecured short-term lines of credit in the aggregate amount of $9,130. These facilities bear interest at various rates depending on the rates in their respective countries of operation. Under the company's lines of credit, there was no outstanding debt as of October 31, 2016 and October 31, 2015.

The credit agreement that contains the revolving credit facility and term loan, which is described in more detail in Note 7, contains standard covenants, including, without limitation, financial covenants, such as the maintenance of minimum interest coverage and maximum debt to earnings before interest, tax, depreciation, and amortization ("EBITDA") ratios; and negative covenants, which among other things, limit loans and investments, disposition of assets, consolidations and mergers, transactions with affiliates, restricted payments, contingent obligations, liens, and other matters customarily restricted in such agreements. Most of these restrictions are subject to certain minimum thresholds and exceptions. Under the revolving credit facility, the company is not limited in the amount for payments of cash dividends and stock repurchases as long as the debt to EBITDA ratio from the previous quarter compliance certificate is less than or equal to 3.25, provided that immediately after giving effect of any such proposed action, no default or event of default would exist. In fiscal 2016, 2015, and 2014, the company was not limited in the amount for payments of cash dividends and stock repurchases as its debt to EBITDA ratio was below the thresholds. The company was in compliance with all covenants related to the lines of credit described above as of October 31, 2016 and 2015.

LONG-TERM DEBT

12 Months Ended

Oct. 31, 2016

LONG-TERM DEBT.

LONG-TERM DEBT

A summary of long-term debt as of October 31 is as follows:


		2016		2015

Term loan, due October 25, 2019	$	110,500	$	123,500
7.800% Debentures, due June 15, 2027		100,000		100,000
6.625% Senior Notes, due May 1, 2037		123,730		123,668
4% Unsecured Note, due November 14, 2017		19,677		30,604
Other		—		180

Total long-term debt		353,907		377,952

Less current portion		22,484		23,134

Long-term debt, less current portion	$	331,423	$	354,818

On November 14, 2014, the company issued a note with the aggregate principal amount of $30,000 to the former owner of the BOSS business, Northern Star Industries, Inc., which was recorded at fair value of $31,161.

In October 2014, the company obtained a $130,000 term loan with various banks, which was a part of the new credit agreement that included the new revolving credit facility. Under the credit agreement, the term loan bears interest based on a LIBOR rate (or other rates quoted by the Administrative Agent, Bank of America, N.A.) plus a basis point spread defined in the credit agreement. The term loan can be repaid in part or in full at any time without penalty, but in any event must be paid in full by October 2019.

On April 26, 2007, the company issued $125,000 in aggregate principal amount of 6.625% senior notes due May 1, 2037. The senior notes were priced at 98.513% of par value, and the resulting discount of $1,859 associated with the issuance of these senior notes is being amortized over the term of the notes using the effective interest rate method. The underwriting fee and direct debt issue costs totaling $1,524 will be amortized over the life of the notes. Although the coupon rate of the senior notes is 6.625%, the effective interest rate is 6.741% after taking into account the issuance discount. Interest on the senior notes is payable semi-annually on May 1 and November 1 of each year. The senior notes are unsecured senior obligations of the company and rank equally with the company's other unsecured and unsubordinated indebtedness. The indentures under which the senior notes were issued contain customary covenants and event of default provisions. The company may redeem some or all of the senior notes at any time at the greater of the full principal amount of the senior notes being redeemed or the present value of the remaining scheduled payments of principal and interest discounted to the redemption date on a semi-annual basis at the treasury rate plus 30 basis points, plus, in both cases, accrued and unpaid interest. In the event of the occurrence of both (i) a change of control of the company, and (ii) a downgrade of the notes below an investment grade rating by both Moody's Investors Service, Inc. and Standard & Poor's Ratings Services within a specified period, the company would be required to make an offer to purchase the senior notes at a price equal to 101% of the principal amount of the senior notes plus accrued and unpaid interest to the date of repurchase.

In June 1997, the company issued $175,000 of debt securities consisting of $75,000 of 7.125% coupon 10-year notes and $100,000 of 7.80% coupon 30-year debentures. The $75,000 of 7.125% coupon 10-year notes were repaid at maturity during fiscal 2007. In connection with the issuance of $175,000 in long-term debt securities, the company paid $23,688 to terminate three forward-starting interest rate swap agreements with notional amounts totaling $125,000. These swap agreements had been entered into to reduce exposure to interest rate risk prior to the issuance of the new long-term debt securities. As of the inception of one of the swap agreements, the company had received payments that were recorded as deferred income to be recognized as an adjustment to interest expense over the term of the new debt securities. As of the date the swaps were terminated, this deferred income totaled $18,710. The excess termination fees over the deferred income recorded has been deferred and is being recognized as an adjustment to interest expense over the term of the debt securities issued. As of October 31, 2016, the company had $1,680 remaining in other assets for the excess termination fees over deferred income.

Principal payments required on long-term debt in each of the next five fiscal years ending October 31 are as follows: 2017, $22,484; 2018, $23,193; 2019, $84,500; 2020, $0; 2021, $0; and after 2021, $223,730.

STOCKHOLDERS' EQUITY

12 Months Ended

Oct. 31, 2016

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY

Shares have been adjusted for all periods presented to reflect a two-for-one stock split effective September 16, 2016.

Stock Repurchase Program. On December 11, 2012, the company's Board of Directors authorized the repurchase of 10,000,000 shares of the company's common stock in open-market or in privately negotiated transactions. This program has no expiration date but may be terminated by the Board at any time. On December 3, 2015, the company's Board of Directors authorized the repurchase of up to an additional 8,000,000 shares of the company's common stock in open-market or in privately negotiated transactions. This repurchase program has no expiration date but may be terminated by the Board at any time.

During fiscal 2016, 2015, and 2014, the company paid $107,517, $105,964, and $101,674 to repurchase Board of Director authorized shares for repurchase in an aggregate of 2,560,567 shares, 3,122,358 shares, and 3,245,138 shares, respectively. As of October 31, 2016, 7,692,715 shares remained authorized by the Board of Directors for repurchase. The Board of Director authorized shares for repurchase does not include shares of our common stock surrendered by employees to satisfy minimum tax withholding obligations upon vesting of restricted stock granted under our stock-based compensation plans.

Treasury Shares. As of October 31, 2016, the company had 19,700,607 treasury shares at a cost of $1,280,495. On May 17, 2016, the company's Board of Directors authorized the retirement of 14,000,440 treasury shares, and the retired shares are included in the company's pool of authorized and unissued shares of common stock. As of October 31, 2015, the company had 46,827,048 treasury shares at a cost of $1,243,729.

Accumulated Other Comprehensive Loss. Components of accumulated other comprehensive loss ("AOCL"), net of tax, within the consolidated statements of stockholders' equity are as follows:


As of October 31		2016		2015		2014

Foreign currency translation adjustments	$	31,430	$	24,328	$	12,536
Pension and post-retirement benefits		6,359		5,386		5,266
Derivative instruments		647		129		(2,097)

Total accumulated other comprehensive loss	$	38,436	$	29,843	$	15,705

The components and activity of AOCL are as follows:


		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 (income) before reclassifications		7,102		973		1,116		9,191
Amounts reclassified from AOCL		—		—		(598)		(598)

Net current period other comprehensive (income) loss		7,102		973		518		8,593

Balance as of October 31, 2016	$	31,430	$	6,359	$	647	$	38,436


		Foreign Currency Translation Adjustments		Pension and Postretirement Benefits		Cash Flow Derivative Instruments		Total

Balance as of October 31, 2014	$	12,536	$	5,266	$	(2,097)	$	15,705
Other comprehensive loss (income) before reclassifications		11,792		—		(7,680)		4,112
Amounts reclassified from AOCL		—		120		9,906		10,026

Net current period other comprehensive (income) loss		11,792		120		2,226		14,138

Balance as of October 31, 2015	$	24,328	$	5,386	$	129	$	29,843

AOCL associated with pension and postretirement benefits are included in Note 11. Details of amounts reclassified from accumulated other comprehensive loss to the respective line items in net earnings for cash flow derivative instruments are included in Note 14.

- 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 310
-SubTopic 10
-Section S99
-Paragraph 4
-Subparagraph (SAB Topic 4.E)
-URI http://asc.fasb.org/extlink&oid=27010918&loc=d3e74567-122707

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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-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 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(29))
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
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Reference 5: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(e))
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Reference 6: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
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-Paragraph 1
-Subparagraph (SX 210.5-02(31))
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Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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-URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187143-122770

Reference 8: 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(30))
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
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Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
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-URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644

Reference 14: 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 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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-Publisher FASB
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+ Details

INCOME TAXES

12 Months Ended

Oct. 31, 2016

INCOME TAXES

INCOME TAXES

Earnings before income taxes were as follows:


Fiscal years ended October 31		2016		2015		2014

Earnings before income taxes:
U.S.	$	292,184	$	254,276	$	239,501
Non-U.S.		38,276		36,755		16,944

Total	$	330,460	$	291,031	$	256,445

A reconciliation of the statutory federal income tax rate to the company's consolidated effective tax rate is summarized as follows:


Fiscal years ended October 31	2016	2015	2014

Statutory federal income tax rate	35.0%	35.0%	35.0%
Domestic manufacturer's deduction	(0.8)	(1.7)	(1.9)
State and local income taxes, net of federal benefit	1.5	2.2	1.5
Non-U.S. taxes	(1.8)	(3.1)	(1.2)
Federal research tax credit	(1.5)	(0.9)	(0.2)
Other, net	(2.3)	(0.8)	(1.0)

Consolidated effective tax rate	30.1%	30.7%	32.2%

Components of the provision for income taxes were as follows:


Fiscal years ended October 31		2016		2015		2014

Provision for income taxes:
Current:
Federal	$	77,685	$	75,496	$	75,815
State		6,929		9,389		5,997
Non-U.S.		6,295		6,219		3,672

Current provision	$	90,909	$	91,104	$	85,484

Deferred:
Federal	$	7,283	$	430	$	(3,047)
State		297		—		(81)
Non-U.S.		977		(2,094)		219

Deferred benefit		8,557		(1,664)		(2,909)

Total provision for income taxes	$	99,466	$	89,440	$	82,575

The tax effects of temporary differences that give rise to the net deferred income tax assets are presented below:


October 31		2016		2015

Deferred tax assets (liabilities):
Compensation and benefits	$	37,200	$	41,341
Warranty and insurance		17,443		12,067
Advertising and sales allowance		11,185		10,474
Depreciation		(13,578)		(7,689)
Other		6,845		12,264

Deferred tax assets	$	59,095	$	68,457

Valuation allowance		(1,867)		(1,801)

Net deferred tax assets	$	57,228	$	66,656

The valuation allowance as of October 31, 2016 and 2015 principally applies to capital loss carryforwards and foreign net operating loss carryforwards that are expected to expire prior to utilization. In fiscal 2016, the valuation allowance increased slightly for certain foreign jurisdictions with existing valuation allowances.

As of October 31, 2016, the company had net operating loss carryforwards of approximately $8,068 in foreign jurisdictions. The carryforward periods are as follows: $4,858 that do not expire; and $3,210 that expire between fiscal years 2017 and 2022.

No provision has been made for U.S. federal income taxes on certain undistributed earnings of foreign subsidiaries the company intends to permanently invest or that may be remitted substantially tax-free. The total of undistributed earnings that would be subject to federal income tax if remitted under existing law is approximately $117,866 as of October 31, 2016. Determination of the unrecognized deferred tax liability related to these earnings is not practicable because of the complexities with its hypothetical calculation. Upon distribution of these earnings, the company will be subject to U.S. taxes and withholding taxes payable to various foreign governments. A credit for foreign taxes already paid would be available to reduce the U.S. tax liability.

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:


Balance as of October 31, 2015	$	6,343

Increase as a result of tax positions taken during a prior period		683
Increase as a result of tax positions taken during the current period		453
Decrease relating to settlements with taxing authorities		(1,666)
Reductions as a result of statute of limitations lapses		(638)

Balance as of October 31, 2016	$	5,175

The company recognizes interest and penalties related to unrecognized tax benefits as a component of the provision for income taxes. In addition to the liability of $5,175 for unrecognized tax benefits as of October 31, 2016 was an amount of approximately $1,850 for accrued interest and penalties.

Included in the balance of unrecognized tax benefits as of October 31, 2016 are potential benefits of $5,089 that, if recognized, would affect the effective tax rate from continuing operations.

The company and its subsidiaries file income tax returns in the U.S. federal jurisdiction, and numerous state and foreign jurisdictions. With few exceptions, the company is no longer subject to U.S. federal, state and local, and non-U.S. income tax examinations by tax authorities for taxable years before fiscal 2012. The company is under audit in several state jurisdictions, and expects various statutes of limitation to expire during the next 12 months. Due to the uncertain response of taxing authorities, a range of outcomes cannot be reasonably estimated at this time.

STOCK-BASED COMPENSATION PLANS

12 Months Ended

Oct. 31, 2016

STOCK-BASED COMPENSATION PLANS

STOCK-BASED COMPENSATION PLANS

The company maintains the 2010 plan for executive officers, other employees, and non-employee members of the company's Board of Directors. The 2010 plan allows the company to grant equity-based compensation awards, including stock options, restricted stock units, restricted stock, and performance share awards.

Shares and per share data have been adjusted for all periods presented to reflect a two-for-one stock split effective September 16, 2016.

The compensation costs related to stock-based awards were as follows:


Fiscal years ended October 31		2016		2015		2014

Stock option awards	$	4,606	$	4,704	$	5,142
Restricted stock and restricted stock units		1,891		1,756		1,653
Performance share awards		3,676		3,964		4,496
Unrestricted common stock awards		464		412		409

Total compensation cost for stock-based awards	$	10,637	$	10,836	$	11,700


Related tax benefit from stock-based awards	$	3,936	$	4,009	$	4,329

The number of unissued shares of common stock available for future equity-based grants under the 2010 plan was 6,158,207 as of October 31, 2016. Shares of common stock issued upon exercise or settlement of stock options, restricted stock units, and performance shares are issued from treasury shares.

During fiscal 2016, 2015 and 2014, 12,320, 13,360 and 14,000 shares, respectively, of fully vested unrestricted common stock awards were granted to certain members of the company's Board of Directors as a component of their compensation for their service on the board and is recorded in selling, general, and administrative expense in the consolidated statements of earnings.

Stock Option Awards. Under 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. Generally, 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 generally 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 table below presents stock option activity for fiscal 2016:


	Stock Option Awards		Weighted- Average Exercise Price	Weighted- Average Contractual Life (years)		Intrinsic Value

Outstanding as of October 31, 2015	5,829,442	$	16.60	5.2	$	122,606
Granted	618,884		38.73
Exercised	(1,491,666)		13.50
Cancelled/forfeited	(76,676)		34.80
Expired	—		—

Outstanding as of October 31, 2016	4,879,984	$	20.07	5.3	$	135,697

Exercisable as of October 31, 2016	3,748,816	$	15.61	4.4	$	120,973

As of October 31, 2016, there was $1,888 of total unrecognized compensation expense related to unvested stock options. That cost is expected to be recognized over a weighted-average period of 1.93 years.

The table below presents the total market value of stock options exercised and the total intrinsic value of options exercised during the following fiscal years:


Fiscal years ended October 31		2016		2015		2014

Market value of stock options exercised	$	61,468	$	27,860	$	19,017
Intrinsic value of options exercised1		41,365		18,739		12,311

1	Intrinsic value is calculated as amount by which the stock price at exercise date exceeded the option exercise price.

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 and non-employee directors 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 table below illustrates the weighted-average valuation assumptions for all employee and non-employee director stock-based compensation for the following fiscal years:


Fiscal years ended October 31	2016	2015	2014

Expected life of option in years	5.97	5.94	6.00
Expected stock price volatility	24.04%	29.66%	34.29%
Risk-free interest rate	1.80%	1.61%	1.92%
Expected dividend yield	1.24%	1.29%	1.25%

Weighted-average fair value at date of grant	$ 8.79	$ 8.41	$ 9.35

Restricted Stock and Restricted Stock Units. 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.

Factors related to the company's restricted stock and restricted stock units during the following fiscal years are as follows:


Fiscal years ended October 31		2016		2015		2014

Weighted-average fair value at date of grant	$	41.83	$	33.88	$	31.53
Fair value of restricted stock and restricted stock units vested		1,265		1,702		1,890

The table below summarizes the activity during fiscal 2016 for unvested restricted stock and restricted stock units:


	Restricted Stock and Units		Weighted- Average Fair Value at Date of Grant

Unvested as of October 31, 2015	183,594	$	31.39
Granted	52,990		41.83
Vested	(41,874)		30.21
Forfeited	(19,370)		33.17

Unvested as of October 31, 2016	175,340	$	34.63

As of October 31, 2016, there was $2,670 of total unrecognized compensation expense related to unvested restricted stock units. That cost is expected to be recognized over a weighted-average period of 2.14 years.

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.

Factors related to the company's performance share awards are as follows:


Fiscal years ended October 31		2016		2015		2014

Weighted-average fair value at date of grant	$	38.89	$	32.84	$	29.66
Fair value of performance share awards vested		7,454		7,989		7,926

The table below summarizes the activity during fiscal 2016 for unvested performance share awards:


	Performance Shares			Weighted- Average Fair Value at Date of Grant

Unvested as of October 31, 2015	659,600		$	26.43
Granted	116,400			38.89
Vested	(302,800	)		21.03
Cancelled/forfeited	(52,152	)		32.39

Unvested as of October 31, 2016	421,048		$	33.00

As of October 31, 2016, there was $4,416 of total unrecognized compensation expense related to unvested performance share awards. That cost is expected to be recognized over a weighted-average period of 1.69 years.

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

+ References + Details

EMPLOYEE RETIREMENT PLANS

12 Months Ended

Oct. 31, 2016

EMPLOYEE RETIREMENT PLANS

EMPLOYEE RETIREMENT PLANS

The company maintains The Toro Company Investment, Savings, and Employee Stock Ownership Plan for eligible employees. The company's expenses under this plan were $16,986, $17,400, and $15,550 for the fiscal years ended October 31, 2016, 2015, and 2014, respectively.

In addition, the company and its subsidiaries have defined benefit, supplemental, and other retirement plans covering certain employees in the U.S. and the United Kingdom. The projected benefit obligation of these plans as of October 31, 2016 and 2015 was $45,603 and $46,427, respectively, and the net liability amount recognized in the consolidated balance sheets as of October 31, 2016 and 2015 was $4,243 and $4,829, respectively. The accumulated benefit obligation of these plans as of October 31, 2016 and 2015 was $45,603 and $43,145, respectively. The funded status of these plans as of October 31, 2016 and 2015 was $12,984 and $11,303, respectively. The fair value of the plan assets as of October 31, 2016 and 2015 was $32,619 and $35,124, respectively. The net expense recognized in the consolidated financial statements for these plans was $1,220, $2,406, and $1,092 for the fiscal years ended October 31, 2016, 2015, and 2014, respectively.

Amounts recognized in accumulated other comprehensive loss consisted of:


Fiscal years ended October 31		Defined Benefit Pension Plans		Postretirement Benefit Plan			Total

2016
Net actuarial loss (gain)	$	5,496	$	554		$	6,050
Net prior service cost		309		—			309

Accumulated other comprehensive loss	$	5,805	$	554		$	6,359


2015

Net actuarial loss	$	5,100	$	(66	)	$	5,034
Net prior service cost (credit)		352		—			352

Accumulated other comprehensive loss	$	5,452	$	(66	)	$	5,386

The following amounts are included in accumulated other comprehensive loss as of October 31, 2016 and are expected to be recognized as components of net periodic benefit cost during fiscal 2017.


		Defined Benefit Pension Plans		Postretirement Benefit Plan		Total

Net actuarial loss	$	121	$	7	$	128
Net prior service cost		67		—		67

Total	$	188	$	7	$	195

Amounts recognized in net periodic benefit cost and other comprehensive loss consisted of:


Fiscal years ended October 31		Defined Benefit Pension Plans			Postretirement Benefit Plan			Total

2016
Net actuarial loss (gain)	$	469		$	619		$	1,088
Prior service cost		—			—			—
Amortization of unrecognized prior service (credit) cost		(42	)		—			(42	)
Amortization of unrecognized actuarial loss (gain)		(73	)		—			(73	)

Total recognized in other comprehensive loss (income)	$	354		$	619		$	973


Total recognized in net periodic benefit cost and other comprehensive loss	$	976		$	1,217		$	2,193

2015
Net actuarial loss (gain)	$	37		$	(577	)	$	(540	)
Prior service cost		126			—			126
Amortization of unrecognized prior service (credit) cost		(32	)		25			(7	)
Amortization of unrecognized actuarial loss (gain)		542			(1	)		541

Total recognized in other comprehensive loss (income)	$	673		$	(553	)	$	120


Total recognized in net periodic benefit cost and other comprehensive loss	$	2,475		$	51		$	2,526

The company has omitted the remaining disclosures for its defined benefit plans and postretirement healthcare plan as the company deems these plans to be immaterial to its consolidated financial position and results of operations.

SEGMENT DATA

12 Months Ended

Oct. 31, 2016

SEGMENT DATA

SEGMENT DATA

The company's businesses are organized, managed, and internally grouped into segments based on differences in products and services. Segment selection was based on the manner in which management organizes segments for making operating and investment decisions and assessing performance. The company has identified nine operating segments and has aggregated those segments into three reportable segments: Professional, Residential, and Distribution. The aggregation of the company's segments is based on the segments having the following similarities: economic characteristics, types of products and services, types of production processes, type or class of customers, and method of distribution. The company's Distribution segment, which consists of a company-owned domestic distributorship, has been combined with the company's corporate activities and elimination of intersegment revenues and expenses and is shown as "Other" due to the insignificance of the segment.

The Professional business segment consists of turf and landscape equipment, snow and ice management equipment, and irrigation products. Turf and landscape equipment products include sports fields and grounds maintenance equipment, golf course mowing and maintenance equipment, landscape contractor mowing equipment, landscape creation and renovation equipment, rental and specialty construction equipment, and other maintenance equipment. Snow and ice management equipment products include snowplows, salt and sand spreaders, and related parts and accessories for light and medium duty trucks, ATVs, UTVs, skid steers, and front-end loaders. Irrigation products consist of sprinkler heads, electric and hydraulic valves, controllers, computer irrigation central control systems, and micro-irrigation drip tape and hose products, as well as professionally installed lighting products offered through distributors and landscape contractors that also purchase irrigation products. Professional business segment products are sold mainly through a network of distributors and dealers to professional users engaged in maintaining golf courses, sports fields, municipal properties, agricultural fields, residential and commercial landscapes, and removing snow, as well as directly to government customers, rental companies, and large retailers.

The Residential business segment consists of walk power mowers, riding mowers, snow throwers, replacement parts, and home solutions products, including trimmers, blowers, blower-vacuums, and underground and hose-end retail irrigation products sold in Australia. Residential business segment products are sold to homeowners through a network of distributors and dealers, and through a broad array of home centers, hardware retailers, and mass retailers, as well as over the internet.

The Other segment consists of the company's Distribution segment and corporate activities and elimination of intersegment revenues and expenses. Corporate activities include general corporate expenditures (finance, human resources, legal, information services, public relations, and similar activities) and other unallocated corporate assets and liabilities, such as corporate facilities, parts inventory, and deferred tax assets.

The accounting policies of the segments are the same as those described in the summary of significant accounting policies in Note 1. The company evaluates the performance of its Professional and Residential business segment results based on earnings from operations plus other income, net. Operating loss for the Other segment includes earnings (loss) from domestic wholly owned distribution companies, corporate activities, other income, and interest expense. The business segment's operating profits or losses include direct costs incurred at the segment's operating level plus allocated expenses, such as profit sharing and manufacturing expenses. The allocated expenses represent costs that these operations would have incurred otherwise, but do not include general corporate expenses, interest expense, and income taxes. The company accounts for intersegment gross sales at current market prices.

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


Fiscal years ended October 31		Professional		Residential		Other			Total

2016
Net sales	$	1,705,312	$	669,131	$	17,732		$	2,392,175
Intersegment gross sales		28,138		354		(28,492	)		—
Earnings (loss) before income taxes		352,060		73,691		(95,291	)		330,460
Total assets		774,762		188,920		423,836			1,387,518
Capital expenditures		27,296		13,794		9,633			50,723
Depreciation and amortization		40,715		10,406		12,976			64,097

2015
Net sales	$	1,639,659	$	725,682	$	25,534		$	2,390,875
Intersegment gross sales		45,634		406		(46,040	)		—
Earnings (loss) before income taxes		308,010		84,956		(101,935	)		291,031
Total assets		805,686		217,093		280,879			1,303,658
Capital expenditures		29,016		9,953		17,405			56,374
Depreciation and amortization		42,799		9,131		11,213			63,143

2014
Net sales	$	1,477,578	$	672,443	$	22,670		$	2,172,691
Intersegment gross sales		41,376		424		(41,800	)		—
Earnings (loss) before income taxes		276,305		76,916		(96,776	)		256,445
Total assets		573,086		172,984		446,345			1,192,415
Capital expenditures		25,226		12,417		33,495			71,138
Depreciation and amortization		34,228		8,883		10,027			53,138

The following table presents the details of the Other segment operating loss before income taxes:


Fiscal years ended October 31		2016			2015			2014

Corporate expenses	$	(95,288	)	$	(95,167	)	$	(88,539	)
Interest expense		(19,336	)		(18,757	)		(15,426	)
Other income		19,333			11,989			7,189

Total	$	(95,291	)	$	(101,935	)	$	(96,776	)

The following table presents net sales for groups of similar products and services:


Fiscal years ended October 31		2016		2015		2014

Equipment	$	2,001,150	$	2,004,274	$	1,765,845
Irrigation and lighting		391,025		386,601		406,846

Total	$	2,392,175	$	2,390,875	$	2,172,691

Sales to one customer in the Residential segment accounted for 11 percent of total consolidated gross sales in fiscal 2016, 2015, and 2014.

Geographic Data

The following geographic area data includes net sales based on product shipment destination. Long-lived assets consist of net property, plant, and equipment, which is determined based on physical location in addition to allocated capital tooling from U.S. plant facilities.


Fiscal years ended October 31		United States		Foreign Countries		Total

2016
Net sales	$	1,812,587	$	579,588	$	2,392,175
Long-lived assets		188,869		33,169		222,038

2015
Net sales	$	1,780,240	$	610,635	$	2,390,875
Long-lived assets		190,262		34,733		224,995

2014
Net sales	$	1,550,077	$	622,614	$	2,172,691
Long-lived assets		169,797		35,398		205,195

- 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=68060357&loc=d3e8981-108599

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
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Reference 6: http://www.xbrl.org/2003/role/presentationRef
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-Publisher FASB
-Name Accounting Standards Codification
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Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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+ Details

COMMITMENTS AND CONTINGENT LIABILITIES

12 Months Ended

Oct. 31, 2016

COMMITMENTS AND CONTINGENT LIABILITIES

COMMITMENTS AND CONTINGENT LIABILITIES

Leases

Total rental expense for operating leases was $26,363, $24,986, and $24,329 for the fiscal years ended October 31, 2016, 2015, and 2014, respectively. As of October 31, 2016, future minimum lease payments under noncancelable operating leases amounted to $96,136 as follows: 2017, $15,002; 2018, $13,540; 2019, $11,597; 2020, $10,580; 2021, $10,042; and after 2021, $35,375.

Customer Financing

Wholesale Financing. The company is party to a joint venture with TCFIF established as Red Iron. See Note 3 for additional information related to Red Iron. Some products sold to independent dealers in Australia are financed by a third-party finance company. This third-party financing company purchased $28,887 of receivables from the company during fiscal 2016. As of October 31, 2016, $12,316 of receivables financed by the third-party financing company, excluding Red Iron, was outstanding.

The company also enters into limited inventory repurchase agreements with third party financing companies and Red Iron for receivables financed by third party financing companies and Red Iron. As of October 31, 2016, the company was contingently liable to repurchase up to a maximum amount of $10,389 of inventory related to receivables under these financing arrangements. The company has repurchased only immaterial amounts of inventory under these repurchase agreements since inception.

End-User Financing. The company has agreements with third party financing companies to provide lease-financing options to golf course and sports fields and grounds equipment customers in the U.S. and select countries in Europe. The company has no contingent liabilities for residual value or credit collection risk under these agreements with third party financing companies.

From time to time, the company enters into agreements where it provides recourse to third party finance companies in the event of default by the customer for lease payments to the third-party finance company. The company's maximum exposure for credit collection as of October 31, 2016 was $4,904.

Purchase Commitments

As of October 31, 2016, the company had $5,140 of noncancelable purchase commitments with some suppliers for materials and supplies as part of the normal course of business. The company also entered into a construction agreement for renovations at its corporate facilities located in Bloomington, Minnesota, for a maximum obligation, subject to certain exceptions, of $3,038. The amount of the remaining obligation as of October 31, 2016 was $2,524.

Letters of Credit

Letters of credit are issued by the company during the normal course of business, as required by some vendor contracts. As of October 31, 2016 and 2015, the company had $8,984 and $16,245, respectively, in outstanding letters of credit.

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.

FINANCIAL INSTRUMENTS

12 Months Ended

Oct. 31, 2016

FINANCIAL INSTRUMENTS

FINANCIAL INSTRUMENTS

Concentrations of Credit Risk

Financial instruments, which potentially subject the company to concentrations of credit risk, consist principally of accounts receivable that are concentrated in the Professional and Residential business segments. The credit risk associated with these segments is limited because of the large number of customers in the company's customer base and their geographic dispersion, except for the Residential segment that has significant sales to The Home Depot.

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 and foreign plant operations are recorded in net sales and cost of sales, respectively, when the underlying hedged transaction affects net earnings. The maximum amount of time the company hedges its exposure to the variability in future cash flows for forecasted trade sales and purchases is two years. Results of hedges of intercompany loans are recorded in other income, net as an offset to the remeasurement of the foreign loan balance.

The company formally assesses, at a hedge's inception and on an ongoing basis, whether the derivatives that are designated as hedges have been highly effective in offsetting changes in the cash flows of the hedged transactions and whether those derivatives may be expected to remain highly effective in future periods. When it is determined that a derivative is not, or has ceased to be, highly effective as a hedge, the company discontinues hedge accounting prospectively. When the company discontinues hedge accounting because it is no longer probable, but it is still reasonably possible that the forecasted transaction will occur by the end of the originally expected period or within an additional two-month period of time thereafter, the gain or loss on the derivative remains in AOCL and is reclassified to net earnings when the forecasted transaction affects net earnings. However, if it is probable that a forecasted transaction will not occur by the end of the originally specified time period or within an additional two-month period of time thereafter, the gains and losses that were in AOCL are recognized immediately in net earnings. In all situations in which hedge accounting is discontinued and the derivative remains outstanding, the company carries the derivative at its fair value on the consolidated balance sheets, recognizing future changes in the fair value in other income, net. For the fiscal years ended October 31, 2016 and 2015, there were immaterial gains and losses on contracts reclassified into earnings as a result of the discontinuance of cash flow hedges. As of October 31, 2016, the notional amount of outstanding forward contracts designated as cash flow hedges was $122,497. During the third quarter of fiscal 2016, the company terminated its one cross currency interest rate swap instrument outstanding with gains on the instrument recorded in other income.

Derivatives Not Designated as Hedging Instruments. The company also enters into foreign currency contracts that include forward currency contracts and may include cross currency swaps to mitigate the remeasurement of specific assets and liabilities on the consolidated balance sheets. 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.


Fair Value at October 31		2016		2015

Asset Derivatives
Derivatives Designated as Hedging Instruments
Prepaid expenses and other current assets
Forward currency contracts	$	1,535	$	2,102
Cross currency contract		—		—
Derivatives Not Designated as Hedging Instruments
Prepaid expenses and other current assets
Forward currency contracts		432		1,071
Cross currency contract		—		2,136

Total Assets	$	1,967	$	5,309


Liability Derivatives
Derivatives Designated as Hedging Instruments
Accrued liabilities
Forward currency contracts	$	973	$	1,363
Cross currency contract		—		134
Derivatives Not Designated as Hedging Instruments
Accrued liabilities
Forward currency contracts		792		348
Cross currency contract		—		—

Total Liabilities	$	1,765	$	1,845

The following table presents the impact of derivative instruments on the consolidated statements of earnings and the consolidated statements of comprehensive income for the company's derivatives designated as cash flow hedging instruments for the fiscal years ended October 31, 2016 and 2015, respectively.

	Effective Portion													Ineffective Portion and excluded from Effectiveness Testing
		Gain (Loss) Recognized in OCI on Derivatives					Location of Gain (Loss) Reclassified from AOCL into Income		Gain (Loss) Reclassified from AOCL into Income					Location of Gain (Loss) Recognized in Income on Derivatives		Gain (Loss) Recognized in Income on Derivatives

October 31		2016			2015				2016			2015				2016		2015

Forward currency contracts	$	(961	)	$	(745	)	Net sales	$	2,094		$	13,067		Other income, net	$	608	$	747
Forward currency contracts		181			(1,687	)	Cost of sales		(2,598	)		(2,806	)
Cross currency contracts		255			200		Other income, net		(94	)		(355	)

Total derivatives designated as cash flow hedges	$	(525	)	$	(2,232	)	Total	$	(598	)	$	9,906		Total	$	608	$	747

As of October 31, 2016, the company anticipates to reclassify approximately $153 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.


Fiscal Years Ended October 31	Location of Gain (Loss) Recognized in Net Earnings		2016			2015

Forward currency contracts	Other income, net	$	(4	)	$	7,703
Cross currency contracts	Other income, net		(191	)		1,400

Total derivatives not designated as hedges		$	(195	)	$	9,103

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.


October 31		2016		2015

Assets
Forward currency contracts
Gross Amounts of Recognized Assets	$	2,264	$	3,380
Gross Liabilities Offset in the Balance Sheets		(297)		(207)

Net Amounts of Assets Presented in the Balance Sheets		1,967		3,173

Cross currency contracts
Gross Amounts of Recognized Assets		—		2,136
Gross Liabilities Offset in the Balance Sheets		—		—

Net Amounts of Assets Presented in the Balance Sheets		—		2,136

Total Assets	$	1,967	$	5,309


Liabilities
Forward currency contracts
Gross Amounts of Recognized Liabilities	$	(1,765)	$	(1,711)
Gross Assets Offset in the Balance Sheets		—		—

Net Amounts of Liabilities Presented in the Balance Sheets		(1,765)		(1,711)

Cross currency contracts
Gross Amounts of Recognized Liabilities		—		(134)
Gross Assets Offset in the Balance Sheets		—		—

Net Amounts of Liabilities Presented in the Balance Sheets		—		(134)

Total Liabilities	$	(1,765)	$	(1,845)

FAIR VALUE

12 Months Ended

Oct. 31, 2016

FAIR VALUE

FAIR VALUE

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 October 31, 2016 and 2015, respectively, are summarized below:


	Fair Value Measurements Using Inputs Considered as:
October 31, 2016		Fair Value		Level 1		Level 2		Level 3

Assets:
Cash and cash equivalents	$	273,555	$	273,555	$	—	$	—
Forward currency contracts		1,967		—		1,967		—
Cross currency contracts		—		—		—		—

Total Assets	$	275,522	$	273,555	$	1,967	$	—


Liabilities:
Forward currency contracts	$	1,765	$	—	$	1,765	$	—
Cross currency contracts		—		—		—		—
Deferred compensation liabilities		1,149		—		1,149		—

Total Liabilities	$	2,914	$	—	$	2,914	$	—


	Fair Value Measurements Using Inputs Considered as:
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	$	—

The company measures certain assets and liabilities at fair value on a non-recurring basis. Assets acquired and liabilities assumed as part of acquisitions are measured at fair value. Refer to Note 2 for additional information. There were no transfers between Level 1 and Level 2 during the fiscal years ended October 31, 2016 and 2015.

As of October 31, 2016, the estimated fair value of long-term debt with fixed interest rates was $293,295 compared to its carrying amount of $243,407. As of October 31, 2015, the estimated fair value of long-term debt with fixed interest rates was $298,541 compared to its carrying amount of $254,452. The fair value is estimated by discounting the projected cash flows using the rate at which similar amounts of debt could currently be borrowed. Long-term debt is a Level 2 liability in the fair value hierarchy.

- 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

RELATED PARTY TRANSACTION

12 Months Ended

Oct. 31, 2016

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 and through May 31, 2016, the company employed David J. Brule II, who is also a minority shareholder of Northern Star Industries, Inc., as an executive officer of the company.

SUBSEQUENT EVENTS

12 Months Ended

Oct. 31, 2016

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS

On November 3, 2016, the company entered into an agreement to acquire Regnerbau Calw GmbH, a privately held manufacturer of professional irrigation equipment. The transaction is subject to customary closing conditions and currently is expected to close during the company's fiscal 2017 first quarter.

On November 29, 2016 the company entered into amended agreements for its Red Iron joint venture with TCFIF. The purpose of these amendments is, among other things, to: (i) revise the term of Red Iron from October 31, 2017 to October 31, 2024, subject to two-year extensions thereafter unless either party provides written notice to the other party of non-renewal at least one year prior to the end of the then-current term; (ii) provide for an additional exclusivity incentive payment by TCFIF to the company; (iii) extend the maturity date of the revolving credit facility used by Red Iron primarily to finance the acquisition of inventory of products from the company and its affiliates by its distributors and dealers in the United States from October 31, 2017 to October 31, 2024 and to increase the amount available under such revolving credit facility from $450,000 to $550,000; (iv) refine the calculations related to the estimated reserve provided for in the Fourth Amended and Restated Program and Repurchase Agreement with respect to the accounts of certain dealers and distributors; (v) adjust the percentages in the formula used to calculate the amount of the purchase option that Red Iron Holding Corporation has pursuant to the Limited Liability Company Agreement of Red Iron to acquire the equity interest of TCFIF Joint Venture I, LLC in Red Iron at the end of the applicable term or in certain termination events; (vi) expand the coverage of the Red Iron program to additional products of the company and its affiliates; and (vii) certain other non-material amendments.

The company evaluated all subsequent events and concluded that no additional subsequent events have occurred that would require recognition in the financial statements or disclosure in the notes to the financial statements.

QUARTERLY FINANCIAL DATA (unaudited)

12 Months Ended

Oct. 31, 2016

QUARTERLY FINANCIAL DATA (unaudited)

QUARTERLY FINANCIAL DATA (unaudited)

QUARTERLY FINANCIAL DATA (Unaudited)

Summarized quarterly financial data for fiscal 2016 and 2015 are as follows:


Fiscal Year Ended October 31, 2016 Quarter		First		Second		Third		Fourth

Net sales	$	486,398	$	836,441	$	600,980	$	468,356
Gross profit		182,654		303,187		216,617		172,137
Net earnings		39,261		105,681		55,822		30,230
Basic net earnings per share1,2		0.36		0.96		0.51		0.28
Diluted net earnings per share1,2		0.35		0.94		0.50		0.27

Fiscal Year Ended October 31, 2015 Quarter		First		Second		Third		Fourth

Net sales	$	474,211	$	826,242	$	609,615	$	480,807
Gross profit		168,999		281,972		216,390		168,574
Net earnings		30,950		93,763		53,324		23,554
Basic net earnings per share1,2		0.28		0.84		0.48		0.21
Diluted net earnings per share1,2		0.27		0.82		0.47		0.21

1	Net earnings per share amounts do not equal the full year total due to changes in the number of shares outstanding during theq periods and rounding.
2	Per share data has been adjusted for all periods presented to reflect a two-for-one stock split effective September 16, 2016.

SCHEDULE II: Valuation and Qualifying Accounts

12 Months Ended

Oct. 31, 2016

SCHEDULE II: Valuation and Qualifying Accounts

SCHEDULE II: Valuation and Qualifying Accounts

SCHEDULE II

THE TORO COMPANY AND SUBSIDIARIES
Valuation and Qualifying Accounts


(Dollars in thousands)		Balance as of the beginning of the fiscal year		Charged to costs and expenses1			Deductions2		Balance as of the end of the fiscal year

Fiscal year ended October 31, 2016
Allowance for doubtful accounts and notes receivable reserves	$	1,378	$	424		$	193	$	1,609

Fiscal year ended October 31, 2015
Allowance for doubtful accounts and notes receivable reserves		1,481		350			453		1,378

Fiscal year ended October 31, 2014
Allowance for doubtful accounts and notes receivable reserves		3,425		(79	)		1,865		1,481


1	Provision/(recovery).
2	Uncollectible accounts charged off.


(Dollars in thousands)		Balance as of the beginning of the fiscal year		Charged to costs and expenses1		Deductions2		Balance as of the end of the fiscal year

Fiscal year ended October 31, 2016
Accrued advertising and marketing programs	$	76,689	$	355,509	$	350,883	$	81,315

Fiscal year ended October 31, 2015
Accrued advertising and marketing programs		66,169		318,211		307,691		76,689

Fiscal year ended October 31, 2014
Accrued advertising and marketing programs		64,191		306,650		304,672		66,169


1	Provision consists of rebates, cooperative advertising, floor planning costs, commissions, and other promotional program expenses. The expense of each program is classified either as a reduction of net sales or as a component of selling, general, and administrative expense.
2	Claims paid.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND RELATED DATA (Policies)

12 Months Ended

Oct. 31, 2016

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND RELATED DATA

Basis of Presentation and Consolidation

Stock Split

Accounting Estimates

Cash and Cash Equivalents

Receivables

Allowance for Doubtful Accounts

Inventory Valuations

Inventories as of October 31 were as follows:


		2016		2015

Raw materials and work in process	$	90,463	$	107,086
Finished goods and service parts		274,929		291,468

Total FIFO value		365,392		398,554
Less: adjustment to LIFO value		58,358		64,040

Total inventories, net	$	307,034	$	334,514

Property and Depreciation

Property, plant, and equipment as of October 31 was as follows:


		2016		2015

Land and land improvements	$	34,744	$	34,240
Buildings and leasehold improvements		182,121		170,342
Machinery and equipment		325,595		315,884
Tooling		200,842		187,652
Computer hardware and software		85,173		81,131
Construction in process		9,561		15,349

Subtotal		838,036		804,598
Less: accumulated depreciation		615,998		579,603

Total property, plant, and equipment, net	$	222,038	$	224,995

During fiscal years 2016, 2015, and 2014, the company recorded depreciation expense of $53,355, $50,322, and $47,136, respectively.

Goodwill and Indefinite-Life Intangible Assets

Other Long-Lived Assets

Accounts Payable

Insurance

Accrued Warranties

The changes in accrued warranties were as follows:


Fiscal years ended October 31		2016			2015

Beginning balance	$	70,734		$	71,080
Warranty provisions		44,260			41,747
Warranty claims		(41,102	)		(39,730	)
Changes in estimates		(1,734	)		(2,363	)

Ending balance	$	72,158		$	70,734

Derivatives

Foreign Currency Translation and Transactions

Income Taxes

Revenue Recognition

Sales Promotions and Incentives

Cost of Sales

Selling, General, and Administrative Expense

Cost of Financing Distributor/Dealer Inventory

Cost of Financing Distributor / Dealer Inventory

Advertising

Stock-Based Compensation

Net Earnings Per Share

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


(Shares in thousands)
Basic	2016	2015	2014

Weighted-average number of shares of common stock	109,816	111,107	112,692
Assumed issuance of contingent shares	18	23	26

Weighted-average number of shares of common stock and assumed issuance of contingent shares	109,834	111,130	112,718


Diluted

Weighted-average number of shares of common stock and assumed issuance of contingent shares	109,834	111,130	112,718
Effect of dilutive securities	2,153	2,384	2,537

Weighted-average number of shares of common stock, assumed issuance of contingent shares, and effect of dilutive securities	111,987	113,514	115,255

Share data has been adjusted for all periods presented to reflect a two-for-one stock split effective September 16, 2016.

Cash Flow Presentation

New Accounting Pronouncements Adopted

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND RELATED DATA (Tables)

12 Months Ended

Oct. 31, 2016

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND RELATED DATA

Schedule of Inventories


		2016		2015

Raw materials and work in process	$	90,463	$	107,086
Finished goods and service parts		274,929		291,468

Total FIFO value		365,392		398,554
Less: adjustment to LIFO value		58,358		64,040

Total inventories, net	$	307,034	$	334,514

Schedule of property, plant and equipment


		2016		2015

Land and land improvements	$	34,744	$	34,240
Buildings and leasehold improvements		182,121		170,342
Machinery and equipment		325,595		315,884
Tooling		200,842		187,652
Computer hardware and software		85,173		81,131
Construction in process		9,561		15,349

Subtotal		838,036		804,598
Less: accumulated depreciation		615,998		579,603

Total property, plant, and equipment, net	$	222,038	$	224,995

Schedule of changes in accrued warranties


Fiscal years ended October 31		2016			2015

Beginning balance	$	70,734		$	71,080
Warranty provisions		44,260			41,747
Warranty claims		(41,102	)		(39,730	)
Changes in estimates		(1,734	)		(2,363	)

Ending balance	$	72,158		$	70,734

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


(Shares in thousands)
Basic	2016	2015	2014

Weighted-average number of shares of common stock	109,816	111,107	112,692
Assumed issuance of contingent shares	18	23	26

Weighted-average number of shares of common stock and assumed issuance of contingent shares	109,834	111,130	112,718


Diluted

Weighted-average number of shares of common stock and assumed issuance of contingent shares	109,834	111,130	112,718
Effect of dilutive securities	2,153	2,384	2,537

Weighted-average number of shares of common stock, assumed issuance of contingent shares, and effect of dilutive securities	111,987	113,514	115,255

Share data has been adjusted for all periods presented to reflect a two-for-one stock split effective September 16, 2016.

INVESTMENT IN JOINT VENTURE (Tables)

12 Months Ended

Oct. 31, 2016

INVESTMENT IN JOINT VENTURE

Schedule of summarized financial information


For the twelve months ended October 31		2016		2015		2014

Revenue	$	31,812	$	27,483	$	22,678
Net income		21,306		18,598		16,139


As of October 31		2016		2015

Finance receivables, net	$	370,169	$	366,397
Other assets		4,416		5,928
Total liabilities		332,985		330,149

OTHER INCOME, NET (Tables)

12 Months Ended

Oct. 31, 2016

OTHER INCOME, NET

Schedule of other income (expense)


Fiscal years ended October 31		2016		2015			2014

Interest income	$	827	$	494		$	465
Retail financing revenue		1,087		1,086			1,077
Foreign currency exchange rate gain/(loss)		974		(324	)		(1,006	)
Gain on sale of business		340		—			—
Noncash income from finance affiliate		9,588		8,353			7,262
Litigation recovery, net		1,300		125			127
Miscellaneous		1,284		940			789

Total other income, net	$	15,400	$	10,674		$	8,714

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)

12 Months Ended

Oct. 31, 2016

GOODWILL AND OTHER INTANGIBLE ASSETS

Schedule of changes in net carrying amount of goodwill


		Professional Segment			Residential Segment			Total

Balance as of October 31, 2014	$	80,946		$	10,905		$	91,851

Goodwill acquired		103,028			—			103,028
Translation and other adjustments		792			(138	)		654

Balance as of October 31, 2015		184,766			10,767			195,533

Translation adjustments		(428	)		(323	)		(751	)

Balance as of October 31, 2016	$	184,338		$	10,444		$	194,782

Schedule of components of other intangible assets


October 31, 2016	Weighted- average Life (Years)		Gross Carrying Amount		Accumulated Amortization			Net

Patents	3.1	$	15,151	$	(10,866	)	$	4,285
Non-compete agreements	0.4		6,886		(6,681	)		205
Customer-related	16.5		84,353		(14,434	)		69,919
Developed technology	1.4		28,648		(23,712	)		4,936
Trade names	17.1		28,715		(4,235	)		24,480
Other			800		(800	)		—

Total amortizable			164,553		(60,728	)		103,825

Non-amortizable - trade names			4,268		—			4,268

Total other intangible assets, net		$	168,821	$	(60,728	)	$	108,093


October 31, 2015	Weighted- average Life (Years)		Gross Carrying Amount		Accumulated Amortization			Net

Patents	3.6	$	15,191	$	(10,175	)	$	5,016
Non-compete agreements	0.9		6,922		(6,206	)		716
Customer-related	17.4		84,599		(10,316	)		74,283
Developed technology	2.3		28,804		(20,530	)		8,274
Trade names	18.0		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

LONG-TERM DEBT (Tables)

12 Months Ended

Oct. 31, 2016

LONG-TERM DEBT.

Schedule of long-term debt


		2016		2015

Term loan, due October 25, 2019	$	110,500	$	123,500
7.800% Debentures, due June 15, 2027		100,000		100,000
6.625% Senior Notes, due May 1, 2037		123,730		123,668
4% Unsecured Note, due November 14, 2017		19,677		30,604
Other		—		180

Total long-term debt		353,907		377,952

Less current portion		22,484		23,134

Long-term debt, less current portion	$	331,423	$	354,818

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
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Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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-Section 50
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-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6479336&loc=d3e64711-112823

Reference 4: 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.(e),(f))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

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-Name Accounting Standards Codification
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-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=64930739&loc=d3e28878-108400

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
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Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
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Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
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Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
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-URI http://asc.fasb.org/extlink&oid=64930785&loc=d3e28551-108399

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21521-112644

+ Details

STOCKHOLDERS' EQUITY (Tables)

12 Months Ended

Oct. 31, 2016

STOCKHOLDERS' EQUITY

Schedule of components of accumulated other comprehensive loss ("AOCL"), net of tax, within the consolidated statements of stockholders' equity


As of October 31		2016		2015		2014

Foreign currency translation adjustments	$	31,430	$	24,328	$	12,536
Pension and post-retirement benefits		6,359		5,386		5,266
Derivative instruments		647		129		(2,097)

Total accumulated other comprehensive loss	$	38,436	$	29,843	$	15,705

Schedule of components and activity of accumulated other comprehensive loss


		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 (income) before reclassifications		7,102		973		1,116		9,191
Amounts reclassified from AOCL		—		—		(598)		(598)

Net current period other comprehensive (income) loss		7,102		973		518		8,593

Balance as of October 31, 2016	$	31,430	$	6,359	$	647	$	38,436


		Foreign Currency Translation Adjustments		Pension and Postretirement Benefits		Cash Flow Derivative Instruments		Total

Balance as of October 31, 2014	$	12,536	$	5,266	$	(2,097)	$	15,705
Other comprehensive loss (income) before reclassifications		11,792		—		(7,680)		4,112
Amounts reclassified from AOCL		—		120		9,906		10,026

Net current period other comprehensive (income) loss		11,792		120		2,226		14,138

Balance as of October 31, 2015	$	24,328	$	5,386	$	129	$	29,843

INCOME TAXES (Tables)

12 Months Ended

Oct. 31, 2016

INCOME TAXES

Schedule of earnings before income taxes


Fiscal years ended October 31		2016		2015		2014

Earnings before income taxes:
U.S.	$	292,184	$	254,276	$	239,501
Non-U.S.		38,276		36,755		16,944

Total	$	330,460	$	291,031	$	256,445

Schedule of reconciliation of the statutory federal income tax rate to the company's consolidated effective tax rate


Fiscal years ended October 31	2016	2015	2014

Statutory federal income tax rate	35.0%	35.0%	35.0%
Domestic manufacturer's deduction	(0.8)	(1.7)	(1.9)
State and local income taxes, net of federal benefit	1.5	2.2	1.5
Non-U.S. taxes	(1.8)	(3.1)	(1.2)
Federal research tax credit	(1.5)	(0.9)	(0.2)
Other, net	(2.3)	(0.8)	(1.0)

Consolidated effective tax rate	30.1%	30.7%	32.2%

Schedule of components of the provision for income taxes


Fiscal years ended October 31		2016		2015		2014

Provision for income taxes:
Current:
Federal	$	77,685	$	75,496	$	75,815
State		6,929		9,389		5,997
Non-U.S.		6,295		6,219		3,672

Current provision	$	90,909	$	91,104	$	85,484

Deferred:
Federal	$	7,283	$	430	$	(3,047)
State		297		—		(81)
Non-U.S.		977		(2,094)		219

Deferred benefit		8,557		(1,664)		(2,909)

Total provision for income taxes	$	99,466	$	89,440	$	82,575

Schedule of tax effects of temporary differences that give rise to the net deferred income tax assets


October 31		2016		2015

Deferred tax assets (liabilities):
Compensation and benefits	$	37,200	$	41,341
Warranty and insurance		17,443		12,067
Advertising and sales allowance		11,185		10,474
Depreciation		(13,578)		(7,689)
Other		6,845		12,264

Deferred tax assets	$	59,095	$	68,457

Valuation allowance		(1,867)		(1,801)

Net deferred tax assets	$	57,228	$	66,656

Schedule of reconciliation of the beginning and ending amount of unrecognized tax benefits


Balance as of October 31, 2015	$	6,343

Increase as a result of tax positions taken during a prior period		683
Increase as a result of tax positions taken during the current period		453
Decrease relating to settlements with taxing authorities		(1,666)
Reductions as a result of statute of limitations lapses		(638)

Balance as of October 31, 2016	$	5,175

STOCK-BASED COMPENSATION PLANS (Tables)

12 Months Ended

Oct. 31, 2016

STOCK-BASED COMPENSATION PLANS

Schedule of compensation costs related to stock-based awards


Fiscal years ended October 31		2016		2015		2014

Stock option awards	$	4,606	$	4,704	$	5,142
Restricted stock and restricted stock units		1,891		1,756		1,653
Performance share awards		3,676		3,964		4,496
Unrestricted common stock awards		464		412		409

Total compensation cost for stock-based awards	$	10,637	$	10,836	$	11,700


Related tax benefit from stock-based awards	$	3,936	$	4,009	$	4,329

Schedule of stock options activity


	Stock Option Awards		Weighted- Average Exercise Price	Weighted- Average Contractual Life (years)		Intrinsic Value

Outstanding as of October 31, 2015	5,829,442	$	16.60	5.2	$	122,606
Granted	618,884		38.73
Exercised	(1,491,666)		13.50
Cancelled/forfeited	(76,676)		34.80
Expired	—		—

Outstanding as of October 31, 2016	4,879,984	$	20.07	5.3	$	135,697

Exercisable as of October 31, 2016	3,748,816	$	15.61	4.4	$	120,973

Schedule of total market value and the intrinsic value of options exercised


Fiscal years ended October 31		2016		2015		2014

Market value of stock options exercised	$	61,468	$	27,860	$	19,017
Intrinsic value of options exercised1		41,365		18,739		12,311

1	Intrinsic value is calculated as amount by which the stock price at exercise date exceeded the option exercise price.

Schedule of weighted-average valuation assumptions of stock-based compensation


Fiscal years ended October 31	2016	2015	2014

Expected life of option in years	5.97	5.94	6.00
Expected stock price volatility	24.04%	29.66%	34.29%
Risk-free interest rate	1.80%	1.61%	1.92%
Expected dividend yield	1.24%	1.29%	1.25%

Weighted-average fair value at date of grant	$ 8.79	$ 8.41	$ 9.35

Schedule of restricted stock and restricted stock unit awards granted


Fiscal years ended October 31		2016		2015		2014

Weighted-average fair value at date of grant	$	41.83	$	33.88	$	31.53
Fair value of restricted stock and restricted stock units vested		1,265		1,702		1,890

Schedule of unvested restricted stock shares and the weighted average fair value at the date of grant


	Restricted Stock and Units		Weighted- Average Fair Value at Date of Grant

Unvested as of October 31, 2015	183,594	$	31.39
Granted	52,990		41.83
Vested	(41,874)		30.21
Forfeited	(19,370)		33.17

Unvested as of October 31, 2016	175,340	$	34.63

Schedule of performance share awards granted


Fiscal years ended October 31		2016		2015		2014

Weighted-average fair value at date of grant	$	38.89	$	32.84	$	29.66
Fair value of performance share awards vested		7,454		7,989		7,926

Schedule of unvested performance share awards and the weighted average fair value at the date of grant


	Performance Shares			Weighted- Average Fair Value at Date of Grant

Unvested as of October 31, 2015	659,600		$	26.43
Granted	116,400			38.89
Vested	(302,800	)		21.03
Cancelled/forfeited	(52,152	)		32.39

Unvested as of October 31, 2016	421,048		$	33.00

EMPLOYEE RETIREMENT PLANS (Tables)

12 Months Ended

Oct. 31, 2016

EMPLOYEE RETIREMENT PLANS

Schedule of amounts recognized in accumulated other comprehensive loss


Fiscal years ended October 31		Defined Benefit Pension Plans		Postretirement Benefit Plan			Total

2016
Net actuarial loss (gain)	$	5,496	$	554		$	6,050
Net prior service cost		309		—			309

Accumulated other comprehensive loss	$	5,805	$	554		$	6,359


2015

Net actuarial loss	$	5,100	$	(66	)	$	5,034
Net prior service cost (credit)		352		—			352

Accumulated other comprehensive loss	$	5,452	$	(66	)	$	5,386

Schedule of amounts included in accumulated other comprehensive loss and are expected to be recognized as components of net periodic benefit cost during next fiscal year


		Defined Benefit Pension Plans		Postretirement Benefit Plan		Total

Net actuarial loss	$	121	$	7	$	128
Net prior service cost		67		—		67

Total	$	188	$	7	$	195

Schedule of amounts recognized in net periodic benefit cost and other comprehensive income


Fiscal years ended October 31		Defined Benefit Pension Plans			Postretirement Benefit Plan			Total

2016
Net actuarial loss (gain)	$	469		$	619		$	1,088
Prior service cost		—			—			—
Amortization of unrecognized prior service (credit) cost		(42	)		—			(42	)
Amortization of unrecognized actuarial loss (gain)		(73	)		—			(73	)

Total recognized in other comprehensive loss (income)	$	354		$	619		$	973


Total recognized in net periodic benefit cost and other comprehensive loss	$	976		$	1,217		$	2,193

2015
Net actuarial loss (gain)	$	37		$	(577	)	$	(540	)
Prior service cost		126			—			126
Amortization of unrecognized prior service (credit) cost		(32	)		25			(7	)
Amortization of unrecognized actuarial loss (gain)		542			(1	)		541

Total recognized in other comprehensive loss (income)	$	673		$	(553	)	$	120


Total recognized in net periodic benefit cost and other comprehensive loss	$	2,475		$	51		$	2,526

SEGMENT DATA (Tables)

12 Months Ended

Oct. 31, 2016

SEGMENT DATA

Summarized financial information concerning the company's reportable segments


Fiscal years ended October 31		Professional		Residential		Other			Total

2016
Net sales	$	1,705,312	$	669,131	$	17,732		$	2,392,175
Intersegment gross sales		28,138		354		(28,492	)		—
Earnings (loss) before income taxes		352,060		73,691		(95,291	)		330,460
Total assets		774,762		188,920		423,836			1,387,518
Capital expenditures		27,296		13,794		9,633			50,723
Depreciation and amortization		40,715		10,406		12,976			64,097

2015
Net sales	$	1,639,659	$	725,682	$	25,534		$	2,390,875
Intersegment gross sales		45,634		406		(46,040	)		—
Earnings (loss) before income taxes		308,010		84,956		(101,935	)		291,031
Total assets		805,686		217,093		280,879			1,303,658
Capital expenditures		29,016		9,953		17,405			56,374
Depreciation and amortization		42,799		9,131		11,213			63,143

2014
Net sales	$	1,477,578	$	672,443	$	22,670		$	2,172,691
Intersegment gross sales		41,376		424		(41,800	)		—
Earnings (loss) before income taxes		276,305		76,916		(96,776	)		256,445
Total assets		573,086		172,984		446,345			1,192,415
Capital expenditures		25,226		12,417		33,495			71,138
Depreciation and amortization		34,228		8,883		10,027			53,138

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


Fiscal years ended October 31		2016			2015			2014

Corporate expenses	$	(95,288	)	$	(95,167	)	$	(88,539	)
Interest expense		(19,336	)		(18,757	)		(15,426	)
Other income		19,333			11,989			7,189

Total	$	(95,291	)	$	(101,935	)	$	(96,776	)

Schedule of net sales for groups of similar products and services


Fiscal years ended October 31		2016		2015		2014

Equipment	$	2,001,150	$	2,004,274	$	1,765,845
Irrigation and lighting		391,025		386,601		406,846

Total	$	2,392,175	$	2,390,875	$	2,172,691

Schedule of geographic area data


Fiscal years ended October 31		United States		Foreign Countries		Total

2016
Net sales	$	1,812,587	$	579,588	$	2,392,175
Long-lived assets		188,869		33,169		222,038

2015
Net sales	$	1,780,240	$	610,635	$	2,390,875
Long-lived assets		190,262		34,733		224,995

2014
Net sales	$	1,550,077	$	622,614	$	2,172,691
Long-lived assets		169,797		35,398		205,195

FINANCIAL INSTRUMENTS (Tables)

12 Months Ended

Oct. 31, 2016

FINANCIAL INSTRUMENTS

Schedule of fair value of derivatives and consolidated balance sheet location


Fair Value at October 31		2016		2015

Asset Derivatives
Derivatives Designated as Hedging Instruments
Prepaid expenses and other current assets
Forward currency contracts	$	1,535	$	2,102
Cross currency contract		—		—
Derivatives Not Designated as Hedging Instruments
Prepaid expenses and other current assets
Forward currency contracts		432		1,071
Cross currency contract		—		2,136

Total Assets	$	1,967	$	5,309


Liability Derivatives
Derivatives Designated as Hedging Instruments
Accrued liabilities
Forward currency contracts	$	973	$	1,363
Cross currency contract		—		134
Derivatives Not Designated as Hedging Instruments
Accrued liabilities
Forward currency contracts		792		348
Cross currency contract		—		—

Total Liabilities	$	1,765	$	1,845

Schedule of impact of derivative instruments on consolidated statements of earnings for derivatives designated as cash flow hedging instruments

	Effective Portion													Ineffective Portion and excluded from Effectiveness Testing
		Gain (Loss) Recognized in OCI on Derivatives					Location of Gain (Loss) Reclassified from AOCL into Income		Gain (Loss) Reclassified from AOCL into Income					Location of Gain (Loss) Recognized in Income on Derivatives		Gain (Loss) Recognized in Income on Derivatives

October 31		2016			2015				2016			2015				2016		2015

Forward currency contracts	$	(961	)	$	(745	)	Net sales	$	2,094		$	13,067		Other income, net	$	608	$	747
Forward currency contracts		181			(1,687	)	Cost of sales		(2,598	)		(2,806	)
Cross currency contracts		255			200		Other income, net		(94	)		(355	)

Total derivatives designated as cash flow hedges	$	(525	)	$	(2,232	)	Total	$	(598	)	$	9,906		Total	$	608	$	747

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


Fiscal Years Ended October 31	Location of Gain (Loss) Recognized in Net Earnings		2016			2015

Forward currency contracts	Other income, net	$	(4	)	$	7,703
Cross currency contracts	Other income, net		(191	)		1,400

Total derivatives not designated as hedges		$	(195	)	$	9,103

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


October 31		2016		2015

Assets
Forward currency contracts
Gross Amounts of Recognized Assets	$	2,264	$	3,380
Gross Liabilities Offset in the Balance Sheets		(297)		(207)

Net Amounts of Assets Presented in the Balance Sheets		1,967		3,173

Cross currency contracts
Gross Amounts of Recognized Assets		—		2,136
Gross Liabilities Offset in the Balance Sheets		—		—

Net Amounts of Assets Presented in the Balance Sheets		—		2,136

Total Assets	$	1,967	$	5,309


Liabilities
Forward currency contracts
Gross Amounts of Recognized Liabilities	$	(1,765)	$	(1,711)
Gross Assets Offset in the Balance Sheets		—		—

Net Amounts of Liabilities Presented in the Balance Sheets		(1,765)		(1,711)

Cross currency contracts
Gross Amounts of Recognized Liabilities		—		(134)
Gross Assets Offset in the Balance Sheets		—		—

Net Amounts of Liabilities Presented in the Balance Sheets		—		(134)

Total Liabilities	$	(1,765)	$	(1,845)

FAIR VALUE (Tables)

12 Months Ended

Oct. 31, 2016

FAIR VALUE

Schedule of assets and liabilities measured at fair value on a recurring basis


	Fair Value Measurements Using Inputs Considered as:
October 31, 2016		Fair Value		Level 1		Level 2		Level 3

Assets:
Cash and cash equivalents	$	273,555	$	273,555	$	—	$	—
Forward currency contracts		1,967		—		1,967		—
Cross currency contracts		—		—		—		—

Total Assets	$	275,522	$	273,555	$	1,967	$	—


Liabilities:
Forward currency contracts	$	1,765	$	—	$	1,765	$	—
Cross currency contracts		—		—		—		—
Deferred compensation liabilities		1,149		—		1,149		—

Total Liabilities	$	2,914	$	—	$	2,914	$	—


	Fair Value Measurements Using Inputs Considered as:
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	$	—

QUARTERLY FINANCIAL DATA (unaudited) (Tables)

12 Months Ended

Oct. 31, 2016

QUARTERLY FINANCIAL DATA (unaudited)

Summary of quarterly financial data


Fiscal Year Ended October 31, 2016 Quarter		First		Second		Third		Fourth

Net sales	$	486,398	$	836,441	$	600,980	$	468,356
Gross profit		182,654		303,187		216,617		172,137
Net earnings		39,261		105,681		55,822		30,230
Basic net earnings per share1,2		0.36		0.96		0.51		0.28
Diluted net earnings per share1,2		0.35		0.94		0.50		0.27

Fiscal Year Ended October 31, 2015 Quarter		First		Second		Third		Fourth

Net sales	$	474,211	$	826,242	$	609,615	$	480,807
Gross profit		168,999		281,972		216,390		168,574
Net earnings		30,950		93,763		53,324		23,554
Basic net earnings per share1,2		0.28		0.84		0.48		0.21
Diluted net earnings per share1,2		0.27		0.82		0.47		0.21

1	Net earnings per share amounts do not equal the full year total due to changes in the number of shares outstanding during the periods and rounding.
2	Per share data has been adjusted for all periods presented to reflect a two-for-one stock split effective September 16, 2016.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND RELATED DATA - Stock Split (Details) - Common Stock	Sep. 16, 2016
Stock Split
Stock split, conversion ratio	2
Percentage of common stock dividend to be distributed as a result of stock split	100.00%

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND RELATED DATA - Cash and Cash Equivalents, Inventory (Details) - USD ($) $ in Thousands	12 Months Ended
	Oct. 31, 2016	Oct. 31, 2015
Cash and Cash Equivalents
Restricted cash and short-term investments	$ 105,515
Inventory Valuations
Percentage of total inventory valued under FIFO method	33.00%	26.00%
Effect of LIFO inventory layers reduction on cost of sales	$ 60	$ 1,348
Inventories
Raw materials and work in process	90,463	107,086
Finished goods and service parts	274,929	291,468
Total FIFO value	365,392	398,554
Less: adjustment to LIFO value	58,358	64,040
Total inventories, net	$ 307,034	$ 334,514

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND RELATED DATA - Property and Depreciation (Details) - USD ($) $ in Thousands	12 Months Ended
	Oct. 31, 2016	Oct. 31, 2015	Oct. 31, 2014
Property and Depreciation
Capitalized interest amount	$ 549	$ 897	$ 1,710
Subtotal	838,036	804,598
Less: accumulated depreciation	615,998	579,603
Property, plant, and equipment, net	222,038	224,995	205,195
Depreciation expense	53,355	50,322	$ 47,136
Land and land improvements
Property and Depreciation
Subtotal	34,744	34,240
Buildings and leasehold improvements
Property and Depreciation
Subtotal	$ 182,121	170,342
Buildings and leasehold improvements \| Minimum
Property and Depreciation
Estimated useful life	10 years
Buildings and leasehold improvements \| Maximum
Property and Depreciation
Estimated useful life	40 years
Machinery and equipment
Property and Depreciation
Subtotal	$ 325,595	315,884
Tooling
Property and Depreciation
Subtotal	$ 200,842	187,652
Tooling \| Minimum
Property and Depreciation
Estimated useful life	3 years
Tooling \| Maximum
Property and Depreciation
Estimated useful life	5 years
Computer hardware and software
Property and Depreciation
Subtotal	$ 85,173	81,131
Software and website development costs \| Minimum
Property and Depreciation
Estimated useful life	2 years
Software and website development costs \| Maximum
Property and Depreciation
Estimated useful life	5 years
Construction in process
Property and Depreciation
Subtotal	$ 9,561	$ 15,349
Equipment \| Minimum
Property and Depreciation
Estimated useful life	2 years
Equipment \| Maximum
Property and Depreciation
Estimated useful life	7 years

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND RELATED DATA - Other (Details)
shares in Thousands, $ in Thousands

12 Months Ended

Oct. 31, 2016

USD ($)

segment

item

Oct. 31, 2015

USD ($)

Oct. 31, 2014

USD ($)

Goodwill And Indefinite Life Intangible Assets

Number of reporting units tested for impairment of goodwill | segment

Number of operating segments | segment

Number of reporting units containing goodwill | item

Other Long-Lived Assets

Impairment of Long-Lived Assets Held-for-use

$ 1,383

Accelerated depreciation expense

$ 0

531

$ 0

Accounts Payable

Minimum number of payment obligations to be financed | item

Outstanding payment obligations placed on the accounts payable tracking system

$ 16,249

16,101

Changes in accrued warranties

Beginning balance

70,734

71,080

Warranty provisions

44,260

41,747

Warranty claims

(41,102)

(39,730)

Changes in estimates

(1,734)

(2,363)

Ending balance

72,158

70,734

71,080

Revenue Recognition

Consignment inventory amount

$ 22,443

23,566

Cost of Financing Distributor/Dealer Inventory

Number of fiscal years the entity has repurchased immaterial amounts of inventory under repurchase agreements

3 years

Financing costs for distributor and dealer inventories

$ 28,773

24,130

21,080

Advertising

Advertising costs

$ 41,837

$ 42,843

$ 43,590

Basic

Weighted-average number of shares of common stock | shares

109,816

111,107

112,692

Assumed issuance of contingent shares | shares

Weighted-average number of shares of common stock and assumed issuance of contingent shares | shares

^[1]

109,834

111,130

112,718

Diluted

Weighted-average number of shares of common stock and assumed issuance of contingent shares | shares

^[1]

109,834

111,130

112,718

Effect of dilutive securities (in shares) | shares

^[1]

2,153

2,384

2,537

Weighted-average number of shares of common stock, assumed issuance of contingent shares, and effect of dilutive securities | shares

^[1]

111,987

113,514

115,255

Options, restricted stock, and restricted stock units, excluded from the diluted earnings per share | shares

310,566

290,120

519,850

Minimum

Other Long-Lived Assets

Estimated life

1 year 6 months

Maximum

Other Long-Lived Assets

Estimated life

20 years

Stock Option Awards | Non-employee directors

Stock-Based Compensation

Requisite service period for non-employee director after which fair value of options granted is fully expensed on the date of grant

10 years

[1]	Shares and per share data have been adjusted for all periods presented to reflect a two-for-one stock split effective September 16, 2016

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND RELATED DATA - New Accounting Pronouncements (Details) - USD ($) $ in Thousands	Oct. 31, 2016	Oct. 31, 2015
New Accounting Pronouncements Adopted
Deferred tax assets - non-current	$ 57,228	$ 66,663
ASU 2015-17 Income Taxes (Topic 740) \| As Previously Reported
New Accounting Pronouncements Adopted
Deferred tax assets - current		38,095
ASU 2015-17 Income Taxes (Topic 740) \| Retrospective Adjustment
New Accounting Pronouncements Adopted
Deferred tax assets - non-current		$ 38,095

ACQUISITION (Details) - USD ($) $ in Thousands	Nov. 14, 2014	Oct. 31, 2016	Oct. 31, 2015
Acquisition
Term loan		$ 243,407	$ 254,452
Fiscal 2015 Acquisitions
Acquisition
Purchase price	$ 229,490
Cash consideration	198,329
Note payable at fair value	31,161
Term loan	$ 130,000

INVESTMENT IN JOINT VENTURE (Details) - Red Iron Acceptance, LLC - USD ($) $ in Thousands	12 Months Ended
	Oct. 31, 2016	Oct. 31, 2015	Oct. 31, 2014
Schedule of Equity Method Investments
Period of unlimited automatic extensions after the initial term of joint venture	2 years
Portion owned by Toro (as a percent)	45.00%
Portion owned by TCFIF (as a percent)	55.00%
Maximum borrowing capacity under credit facility	$ 450,000
Investment in joint venture	18,719	$ 18,979
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
Net amount of receivables financed for dealers and distributors	1,713,588	1,430,855	$ 1,280,505
Summarized financial information for Red Iron
Revenue	31,812	27,483	22,678
Net income	21,306	18,598	$ 16,139
Finance receivables, net	370,169	366,397
Other assets	4,416	5,928
Total liabilities	$ 332,985	$ 330,149

OTHER INCOME, NET (Details) - USD ($) $ in Thousands	12 Months Ended
OTHER INCOME, NET (Details) - USD ($) $ in Thousands	Oct. 31, 2016	Oct. 31, 2015	Oct. 31, 2014
OTHER INCOME, NET
Interest income	$ 827	$ 494	$ 465
Retail financing revenue	1,087	1,086	1,077
Foreign currency exchange rate gain/(loss)	974	(324)	(1,006)
Gain on sale of business	340
Noncash income from finance affiliate	9,588	8,353	7,262
Litigation recovery, net	1,300	125	127
Miscellaneous	1,284	940	789
Total other income, net	$ 15,400	$ 10,674	$ 8,714

GOODWILL AND OTHER INTANGIBLE ASSETS - Changes in Net Carrying Amount of Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Oct. 31, 2016	Oct. 31, 2015
Changes in the net carrying amount of goodwill
Goodwill as of the beginning of the fiscal period	$ 195,533	$ 91,851
Goodwill acquired		103,028
Translation adjustments	(751)	654
Goodwill as of the end of the fiscal period	194,782	195,533
Professional
Changes in the net carrying amount of goodwill
Goodwill as of the beginning of the fiscal period	184,766	80,946
Goodwill acquired		103,028
Translation adjustments	(428)	792
Goodwill as of the end of the fiscal period	184,338	184,766
Residential
Changes in the net carrying amount of goodwill
Goodwill as of the beginning of the fiscal period	10,767	10,905
Translation adjustments	(323)	(138)
Goodwill as of the end of the fiscal period	$ 10,444	$ 10,767

GOODWILL AND OTHER INTANGIBLE ASSETS - Components of Other Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Oct. 31, 2016	Oct. 31, 2015	Oct. 31, 2014
Other Intangible Assets
Gross Carrying Amount	$ 164,553	$ 165,031
Accumulated Amortization	(60,728)	(50,852)
Net	103,825	114,179
Total other intangible assets, gross	168,821	169,862
Total other intangible assets, net	108,093	119,010
Amortization expense for intangible assets	9,550	11,438	$ 6,002
Estimated amortization expense
Fiscal 2017	9,458
Fiscal 2018	7,440
Fiscal 2019	6,562
Fiscal 2020	6,006
Fiscal 2021	5,601
After fiscal 2021	68,758
Patents
Other Intangible Assets
Gross Carrying Amount	15,151	15,191
Accumulated Amortization	(10,866)	(10,175)
Net	$ 4,285	$ 5,016
Patents \| Weighted-average
Other Intangible Assets
Life (Years)	3 years 1 month 6 days	3 years 7 months 6 days
Non-compete agreements
Other Intangible Assets
Gross Carrying Amount	$ 6,886	$ 6,922
Accumulated Amortization	(6,681)	(6,206)
Net	$ 205	$ 716
Non-compete agreements \| Weighted-average
Other Intangible Assets
Life (Years)	4 months 24 days	10 months 24 days
Customer-related
Other Intangible Assets
Gross Carrying Amount	$ 84,353	$ 84,599
Accumulated Amortization	(14,434)	(10,316)
Net	$ 69,919	$ 74,283
Customer-related \| Weighted-average
Other Intangible Assets
Life (Years)	16 years 6 months	17 years 4 months 24 days
Developed technology
Other Intangible Assets
Gross Carrying Amount	$ 28,648	$ 28,804
Accumulated Amortization	(23,712)	(20,530)
Net	$ 4,936	$ 8,274
Developed technology \| Weighted-average
Other Intangible Assets
Life (Years)	1 year 4 months 24 days	2 years 3 months 18 days
Trade names
Other Intangible Assets
Gross Carrying Amount	$ 28,715	$ 28,715
Accumulated Amortization	(4,235)	(2,825)
Net	24,480	25,890
Non-amortizable - trade names	$ 4,268	$ 4,831
Trade names \| Weighted-average
Other Intangible Assets
Life (Years)	17 years 1 month 6 days	18 years
Other
Other Intangible Assets
Gross Carrying Amount	$ 800	$ 800
Accumulated Amortization	$ (800)	$ (800)

SHORT-TERM CAPITAL RESOURCES (Details) $ in Thousands	12 Months Ended
SHORT-TERM CAPITAL RESOURCES (Details) $ in Thousands	Oct. 31, 2016 USD ($)	Oct. 31, 2015 USD ($)
Short-term capital resources
Outstanding debt	$ 0	$ 0
Short-term debt		$ 222
Unsecured senior five-year revolving credit facility
Short-term capital resources
Maximum borrowing capacity under credit facility	$ 150,000
Credit facility term (in years)	5 years
Increase in the credit agreement's borrowing capacity available under the approval of named borrowers	$ 100,000
Description of variable base interest rate	LIBOR
Ratio of debt to EBITDA, maximum	3.25
Standby letters of credit
Short-term capital resources
Maximum borrowing capacity under credit facility	$ 20,000
Swingline loans
Short-term capital resources
Maximum borrowing capacity under credit facility	20,000
Non-U.S. Operations \| Non-U.S. operations, unsecured short-term lines of credit
Short-term capital resources
Maximum borrowing capacity under credit facility	$ 9,130

LONG-TERM DEBT (Details) $ in Thousands		1 Months Ended	12 Months Ended
LONG-TERM DEBT (Details) $ in Thousands	Nov. 14, 2014 USD ($)	Jun. 30, 1997 USD ($) item	Oct. 31, 2016 USD ($)	Oct. 31, 2015 USD ($)	Oct. 31, 2014 USD ($)	Oct. 31, 2007 USD ($)	Apr. 26, 2007 USD ($)
LONG-TERM DEBT
Total long-term debt			$ 353,907	$ 377,952
Less current portion			22,484	23,134
Long-term debt, less current portion			331,423	354,818
Aggregate principal amount of notes issued	$ 30,000
Principal payments on long-term debt in fiscal years
2017			22,484
2018			23,193
2019			84,500
2020			0
2021			0
After 2021			223,730
Term loan
LONG-TERM DEBT
Total long-term debt			$ 110,500	123,500	$ 130,000
Description of variable base interest rate			LIBOR
Debt securities issued in June 1997
LONG-TERM DEBT
Aggregate principal amount of notes issued		$ 175,000
7.125% coupon 10-year notes
LONG-TERM DEBT
Interest rate percentage		7.125%
Maturity period (in years)		10 years
Aggregate principal amount of notes issued		$ 75,000
Repayment of face amount of debt						$ 75,000
7.800% Debentures, due June 15, 2027
LONG-TERM DEBT
Total long-term debt			$ 100,000	100,000
Interest rate percentage		7.80%	7.80%
Maturity period (in years)		30 years
Aggregate principal amount of notes issued		$ 100,000
Amount paid to terminate forward-starting interest rate swap agreements		$ 23,688
Number of terminated forward-starting interest rate swap agreements \| item		3
Notional amount		$ 125,000
Deferred income amount at the time of swap termination		$ 18,710
Other assets, excess termination fees over deferred income			$ 1,680
6.625% Senior Notes, due May 1, 2037
LONG-TERM DEBT
Total long-term debt			$ 123,730	123,668
Interest rate percentage			6.625%				6.625%
Aggregate principal amount of notes issued							$ 125,000
Percentage of par value at which debt was issued							98.513%
Debt discount, unamortized							$ 1,859
Total underwriting fee and direct debt issue costs							$ 1,524
Effective interest rate (as a percent)			6.741%
Redemption value, basis points added to the treasury rate (as a percent)			0.30%
Redemption price as a percentage of the principal amount upon the occurrence of both a change of control and downgrade of rating (as a percent)			101.00%
4% Unsecured Note, due November 14, 2017
LONG-TERM DEBT
Total long-term debt			$ 19,677	30,604
Interest rate percentage			4.00%
Other.
LONG-TERM DEBT
Total long-term debt				$ 180
Fiscal 2015 Acquisitions
LONG-TERM DEBT
Note payable at fair value	$ 31,161

STOCKHOLDERS' EQUITY - Stock Repurchase Program and Treasury Shares (Details)
$ in Thousands

12 Months Ended

Sep. 16, 2016

May 17, 2016

Oct. 31, 2016

USD ($)

Oct. 31, 2015

USD ($)

Oct. 31, 2014

USD ($)

Dec. 03, 2015

Dec. 11, 2012

Stock repurchase program

Amount paid to repurchase the shares (in dollars) | $

$ 111,999

$ 106,964

$ 103,039

Repurchase of shares

^[1]

2,675,575

3,151,978

3,288,460

Treasury shares

Treasury shares held

19,700,607

46,827,048

Cost of treasury shares (in dollars) | $

$ 1,280,495

$ 1,243,729

Number of treasury shares authorized to be retired

14,000,440

Common Stock

Stock repurchase program

Stock split, conversion ratio

Amount paid to repurchase the shares (in dollars) | $

2,676

3,152

$ 3,288

Stock repurchase program

Stock repurchase program

Number of shares authorized to be repurchased

10,000,000

Amount paid to repurchase the shares (in dollars) | $

$ 107,517

$ 105,964

$ 101,674

Repurchase of shares

2,560,567

3,122,358

3,245,138

Number of shares remained authorized for repurchase

7,692,715

Additional number of shares authorized to be repurchased

8,000,000

[1]	Shares and per share data have been adjusted for all periods presented to reflect a two-for-one stock split effective September 16, 2016

STOCKHOLDERS' EQUITY - Components of AOCL (Details) - USD ($) $ in Thousands	Oct. 31, 2016	Oct. 31, 2015	Oct. 31, 2014
Accumulated other comprehensive loss (AOCL)
Foreign currency translation adjustments	$ 31,430	$ 24,328	$ 12,536
Pension and post-retirement benefits	6,359	5,386	5,266
Derivative instruments	647	129	(2,097)
Total accumulated other comprehensive loss	$ 38,436	$ 29,843	$ 15,705

STOCKHOLDERS' EQUITY - Components and activity of AOCL (Details) - USD ($) $ in Thousands	12 Months Ended
	Oct. 31, 2016	Oct. 31, 2015	Oct. 31, 2014
Components and activity of accumulated other comprehensive loss
Balance as of the beginning of the fiscal period	$ (462,165)	$ (408,727)	$ (358,738)
Net current period other comprehensive (income) loss	8,593	14,138	3,135
Balance as of the end of the fiscal period	(550,035)	(462,165)	(408,727)
Accumulated Other Comprehensive Loss
Components and activity of accumulated other comprehensive loss
Balance as of the beginning of the fiscal period	29,843	15,705	12,570
Other comprehensive loss (income) before reclassifications	9,191	4,112
Amounts reclassified from AOCL	(598)	10,026
Net current period other comprehensive (income) loss	8,593	14,138	3,135
Balance as of the end of the fiscal period	38,436	29,843	15,705
Foreign Currency Translation Adjustments
Components and activity of accumulated other comprehensive loss
Balance as of the beginning of the fiscal period	24,328	12,536
Other comprehensive loss (income) before reclassifications	7,102	11,792
Net current period other comprehensive (income) loss	7,102	11,792
Balance as of the end of the fiscal period	31,430	24,328	12,536
Pension and Post-retirement Benefits
Components and activity of accumulated other comprehensive loss
Balance as of the beginning of the fiscal period	5,386	5,266
Other comprehensive loss (income) before reclassifications	973
Amounts reclassified from AOCL		120
Net current period other comprehensive (income) loss	973	120
Balance as of the end of the fiscal period	6,359	5,386	5,266
Cash Flow Derivative Instruments
Components and activity of accumulated other comprehensive loss
Balance as of the beginning of the fiscal period	129	(2,097)
Other comprehensive loss (income) before reclassifications	1,116	(7,680)
Amounts reclassified from AOCL	(598)	9,906
Net current period other comprehensive (income) loss	518	2,226
Balance as of the end of the fiscal period	$ 647	$ 129	$ (2,097)

INCOME TAXES (Details) - USD ($) $ in Thousands	12 Months Ended
INCOME TAXES (Details) - USD ($) $ in Thousands	Oct. 31, 2016	Oct. 31, 2015	Oct. 31, 2014
Earnings before income taxes:
U.S.	$ 292,184	$ 254,276	$ 239,501
Non-U.S.	38,276	36,755	16,944
Earnings before income taxes	$ 330,460	$ 291,031	$ 256,445
Reconciliation of the statutory federal income tax rate to consolidated effective tax rate
Statutory federal income tax rate (as a percent)	35.00%	35.00%	35.00%
Domestic manufacturer's deduction (as a percent)	(0.80%)	(1.70%)	(1.90%)
State and local income taxes, net of federal benefit (as a percent)	1.50%	2.20%	1.50%
Non-U.S. taxes	(1.80%)	(3.10%)	(1.20%)
Federal research tax credit (as a percent)	(1.50%)	(0.90%)	(0.20%)
Other, net (as a percent)	(2.30%)	(0.80%)	(1.00%)
Consolidated effective tax rate (as a percent)	30.10%	30.70%	32.20%
Current:
Federal	$ 77,685	$ 75,496	$ 75,815
State	6,929	9,389	5,997
Non-U.S.	6,295	6,219	3,672
Current provision	90,909	91,104	85,484
Deferred:
Federal	7,283	430	(3,047)
State	297		(81)
Non-U.S.	977	(2,094)	219
Deferred benefit	8,557	(1,664)	(2,909)
Total provision for income taxes	99,466	89,440	$ 82,575
Deferred tax assets (liabilities):
Compensation and benefits	37,200	41,341
Warranty and insurance	17,443	12,067
Advertising and sales allowance	11,185	10,474
Depreciation	(13,578)	(7,689)
Other	6,845	12,264
Deferred tax assets	59,095	68,457
Valuation allowance	(1,867)	(1,801)
Net deferred tax assets	57,228	66,656
Deferred tax liability provided for undistributed earnings from subsidiaries outside the United States	0
Undistributed earnings of foreign subsidiaries	117,866
Reconciliation of unrecognized tax benefits
Balance at the beginning of the period	6,343
Increase as a result of tax positions taken during a prior period	683
Increase as a result of tax positions taken during the current period	453
Decrease relating to settlements with taxing authorities	(1,666)
Reductions as a result of statute of limitations lapses	(638)
Balance at the end of the period	5,175	$ 6,343
Accrued interest and penalties for unrecognized tax benefits	1,850
Potential benefits that would affect the effective tax rate	5,089
Foreign Jurisdictions
Net operating loss
Net operating loss carryforwards in foreign jurisdictions	8,068
Net operating loss carryforwards in foreign jurisdictions not subject to expiration	4,858
Net operating loss carryforwards in foreign jurisdictions subject to expiration between fiscal years 2017 and 2022	$ 3,210

STOCK-BASED COMPENSATION PLANS - Stock Option Awards (Details)
$ / shares in Units, $ in Thousands

12 Months Ended

Sep. 16, 2016

Oct. 31, 2016

USD ($)

$ / shares

Oct. 31, 2015

USD ($)

$ / shares

Oct. 31, 2014

USD ($)

$ / shares

Stock-Based Compensation

Total compensation cost for stock-based awards

$ 10,637

$ 10,836

$ 11,700

$ 3,936

4,009

4,329

Common stock available for future grants (in shares) | shares

6,158,207

Common Stock

Stock-Based Compensation

Stock split, conversion ratio

Stock Option Awards

Stock-Based Compensation

Total compensation cost for stock-based awards

$ 4,606

$ 4,704

5,142

Stock option awards

Outstanding at the beginning of the period (in shares) | shares

^[1]

5,829,442

Granted (in shares) | shares

^[1]

618,884

Exercised (in shares) | shares

^[1]

(1,491,666)

Cancelled/forfeited (in shares) | shares

^[1]

(76,676)

Outstanding at the end of the period (in shares) | shares

^[1]

4,879,984

5,829,442

Exercisable at the end of the period (in shares) | shares

^[1]

3,748,816

Stock options, weighted-average exercise price

Outstanding at the beginning of the period (in dollars per share) | $ / shares

^[1]

$ 16.60

Granted (in dollars per share) | $ / shares

^[1]

38.73

Exercised (in dollars per share) | $ / shares

^[1]

13.50

Cancelled/forfeited (in dollars per share) | $ / shares

^[1]

34.80

Outstanding at the end of the period (in dollars per share) | $ / shares

^[1]

20.07

$ 16.60

Exercisable at the end of the period (in dollars per share) | $ / shares

^[1]

$ 15.61

Stock options, weighted-average contractual life

Outstanding at the end of the period

5 years 3 months 18 days

5 years 2 months 12 days

Exercisable at the end of the period

4 years 4 months 24 days

Aggregate intrinsic value

Outstanding at the beginning of the period

$ 122,606

Outstanding at the end of the period

135,697

$ 122,606

Exercisable at the end of the period

120,973

Other stock-based compensation plan disclosures

Total unrecognized compensation cost related to unvested awards

$ 1,888

Weighted-average period for recognition of compensation cost related to unvested awards

1 year 11 months 5 days

Total market value, intrinsic value and fair value of stock options exercised and vested

Market value of stock options exercised

$ 61,468

27,860

19,017

Intrinsic value of options exercised

$ 41,365

$ 18,739

$ 12,311

Assumptions for options granted

Weighted-average fair value at date of grant (in dollars per share) | $ / shares

$ 8.79

$ 8.41

$ 9.35

Stock Option Awards | Weighted-average

Assumptions for options granted

Expected life of option

5 years 11 months 19 days

5 years 11 months 9 days

6 years

Expected stock price volatility (as a percent)

24.04%

29.66%

34.29%

Risk-free interest rate (as a percent)

1.80%

1.61%

1.92%

Expected dividend yield (as a percent)

1.24%

1.29%

1.25%

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

Term of award

10 years

Requisite service period for non-employee director after which fair value of options granted is fully expensed on the date of grant

10 years

Stock Option Awards | Non-employee directors | Graded vesting

Stock-Based Compensation

Vesting (as a percent)

33.333%

Award vesting period

3 years

Restricted Stock and Restricted Stock Units

Stock-Based Compensation

Total compensation cost for stock-based awards

$ 1,891

$ 1,756

$ 1,653

Other stock-based compensation plan disclosures

Total unrecognized compensation cost related to unvested awards

$ 2,670

Weighted-average period for recognition of compensation cost related to unvested awards

2 years 1 month 21 days

Restricted Stock and Restricted Stock Units | Graded vesting

Stock-Based Compensation

Vesting (as a percent)

33.333%

Award vesting period

3 years

Restricted Stock and Restricted Stock Units | Cliff vesting

Stock-Based Compensation

Award vesting period

3 years

Performance Share Awards

Stock-Based Compensation

Total compensation cost for stock-based awards

$ 3,676

3,964

4,496

Frequency of grants

On an annual basis in the first quarter of the company's fiscal year

Award vesting period

3 years

Performance goal period

3 years

Other stock-based compensation plan disclosures

Total unrecognized compensation cost related to unvested awards

$ 4,416

Weighted-average period for recognition of compensation cost related to unvested awards

1 year 8 months 9 days

Performance Share Awards | Maximum

Stock-Based Compensation

Vesting (as a percent)

200.00%

Performance Share Awards | Minimum

Stock-Based Compensation

Vesting (as a percent)

0.00%

Unrestricted Common Stock Awards

Stock-Based Compensation

Total compensation cost for stock-based awards

$ 464

$ 412

$ 409

Unrestricted Common Stock Awards | Certain members of the Board Of Directors

Stock option awards

Granted (in shares) | shares

12,320

13,360

14,000

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

Term of award

10 years

Employee Stock Option Awards | Executive officers | Graded vesting

Stock-Based Compensation

Vesting (as a percent)

33.333%

Award vesting period

3 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

Term of award

10 years

Employee Stock Option Awards | Other employees | Graded vesting

Stock-Based Compensation

Vesting (as a percent)

33.333%

Award vesting period

3 years

Employee Stock Option Awards | Certain employees

Stock-Based Compensation

Term of award

10 years

Employee Stock Option Awards | Certain employees | Cliff vesting

Stock-Based Compensation

Award vesting period

3 years

[1]	Shares and per share data have been adjusted for all periods presented to reflect a two-for-one stock split effective September 16, 2016

STOCK-BASED COMPENSATION PLANS - Restricted Stock and Restricted Stock Units and Performance Share Awards (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands

12 Months Ended

Oct. 31, 2016

Oct. 31, 2015

Oct. 31, 2014

Restricted Stock and Restricted Stock Units

Granted shares of awards

Weighted-average fair value at date of grant (in dollars per share)

^[1]

$ 41.83

$ 33.88

$ 31.53

Fair value of restricted stock, restricted stock units, and performance share awards vested

^[1]

$ 1,265

$ 1,702

$ 1,890

Unvested awards

Unvested at the beginning of the period (in shares)

^[1]

183,594

Granted (in shares)

^[1]

52,990

Vested (in shares)

^[1]

(41,874)

Forfeited (in shares)

^[1]

(19,370)

Unvested at the end of the period (in shares)

^[1]

175,340

183,594

Weighted-Average Fair Value at Date of Grant

Unvested at the beginning of the period (in dollars per share)

^[1]

$ 31.39

Granted (in dollars per share)

^[1]

41.83

$ 33.88

$ 31.53

Vested (in dollars per share)

^[1]

30.21

Forfeited (in dollars per share)

^[1]

33.17

Unvested at the end of the period (in dollars per share)

^[1]

34.63

31.39

Performance Share Awards

Granted shares of awards

Weighted-average fair value at date of grant (in dollars per share)

^[1]

$ 38.89

$ 32.84

$ 29.66

Fair value of restricted stock, restricted stock units, and performance share awards vested

^[1]

$ 7,454

$ 7,989

$ 7,926

Unvested awards

Unvested at the beginning of the period (in shares)

^[1]

659,600

Granted (in shares)

^[1]

116,400

Vested (in shares)

^[1]

(302,800)

Forfeited (in shares)

^[1]

(52,152)

Unvested at the end of the period (in shares)

^[1]

421,048

659,600

Weighted-Average Fair Value at Date of Grant

Unvested at the beginning of the period (in dollars per share)

^[1]

$ 26.43

Granted (in dollars per share)

^[1]

38.89

$ 32.84

$ 29.66

Vested (in dollars per share)

^[1]

21.03

Forfeited (in dollars per share)

^[1]

32.39

Unvested at the end of the period (in dollars per share)

^[1]

$ 33.00

$ 26.43

[1]	Shares and per share data have been adjusted for all periods presented to reflect a two-for-one stock split effective September 16, 2016

EMPLOYEE RETIREMENT PLANS - General Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Oct. 31, 2016	Oct. 31, 2015	Oct. 31, 2014
EMPLOYEE RETIREMENT PLANS
Investments, Savings, Employee Stock Ownership Plan, expenses	$ 16,986	$ 17,400	$ 15,550
Projected benefit obligation	45,603	46,427
Amount of net liability recognized	4,243	4,829
Accumulated benefit obligation	45,603	43,145
Funded status of plans	12,984	11,303
Fair value of the plan assets	32,619	35,124
Net expense recognized	$ 1,220	$ 2,406	$ 1,092

EMPLOYEE RETIREMENT PLANS - AOCL related disclosures (Details) - USD ($) $ in Thousands	12 Months Ended
	Oct. 31, 2016	Oct. 31, 2015	Oct. 31, 2014
Amounts recognized in accumulated other comprehensive loss
Net actuarial loss (gain)	$ 6,050	$ 5,034
Net prior service cost (credit)	309	352
Accumulated other comprehensive loss	6,359	5,386	$ 5,266
Amounts included in accumulated other comprehensive loss, expected to be recognized as components of net periodic benefit cost
Net actuarial loss	128
Net prior service cost	67
Total	195
Amounts recognized in net periodic benefit cost and other comprehensive loss
Net actuarial loss (gain)	1,088	(540)
Prior service cost		126
Amortization of unrecognized prior service (credit) cost	(42)	(7)
Amortization of unrecognized actuarial loss (gain)	(73)	541
Total recognized in other comprehensive loss (income)	973	120
Total recognized in net periodic benefit cost and other comprehensive loss	2,193	2,526
Defined Benefit Pension Plans
Amounts recognized in accumulated other comprehensive loss
Net actuarial loss (gain)	5,496	5,100
Net prior service cost (credit)	309	352
Accumulated other comprehensive loss	5,805	5,452
Amounts included in accumulated other comprehensive loss, expected to be recognized as components of net periodic benefit cost
Net actuarial loss	121
Net prior service cost	67
Total	188
Amounts recognized in net periodic benefit cost and other comprehensive loss
Net actuarial loss (gain)	469	37
Prior service cost		126
Amortization of unrecognized prior service (credit) cost	(42)	(32)
Amortization of unrecognized actuarial loss (gain)	(73)	542
Total recognized in other comprehensive loss (income)	354	673
Total recognized in net periodic benefit cost and other comprehensive loss	976	2,475
Postretirement Benefit Plan
Amounts recognized in accumulated other comprehensive loss
Net actuarial loss (gain)	554	(66)
Accumulated other comprehensive loss	554	(66)
Amounts included in accumulated other comprehensive loss, expected to be recognized as components of net periodic benefit cost
Net actuarial loss	7
Total	7
Amounts recognized in net periodic benefit cost and other comprehensive loss
Net actuarial loss (gain)	619	(577)
Amortization of unrecognized prior service (credit) cost		25
Amortization of unrecognized actuarial loss (gain)		(1)
Total recognized in other comprehensive loss (income)	619	(553)
Total recognized in net periodic benefit cost and other comprehensive loss	$ 1,217	$ 51

SEGMENT DATA - Summary (Details) $ in Thousands	3 Months Ended								12 Months Ended
SEGMENT DATA - Summary (Details) $ in Thousands	Oct. 31, 2016 USD ($)	Jul. 29, 2016 USD ($)	Apr. 29, 2016 USD ($)	Jan. 29, 2016 USD ($)	Oct. 31, 2015 USD ($)	Jul. 31, 2015 USD ($)	May 01, 2015 USD ($)	Jan. 30, 2015 USD ($)	Oct. 31, 2016 USD ($) segment	Oct. 31, 2015 USD ($)	Oct. 31, 2014 USD ($)
Financial information concerning reportable segments
Number of operating segments \| segment									9
Number of reportable business segments \| segment									3
Net sales	$ 468,356	$ 600,980	$ 836,441	$ 486,398	$ 480,807	$ 609,615	$ 826,242	$ 474,211	$ 2,392,175	$ 2,390,875	$ 2,172,691
Earnings (loss) before income taxes									330,460	291,031	256,445
Total assets	1,387,518				1,303,658				1,387,518	1,303,658	1,192,415
Capital expenditures									50,723	56,374	71,138
Depreciation and amortization									64,097	63,143	53,138
Components of the loss before income taxes included in "Other"
Interest expense									(19,336)	(18,757)	(15,426)
Other income									15,400	10,674	8,714
Earnings before income taxes									330,460	291,031	256,445
Professional
Financial information concerning reportable segments
Net sales									1,705,312	1,639,659	1,477,578
Earnings (loss) before income taxes									352,060	308,010	276,305
Total assets	774,762				805,686				774,762	805,686	573,086
Capital expenditures									27,296	29,016	25,226
Depreciation and amortization									40,715	42,799	34,228
Components of the loss before income taxes included in "Other"
Earnings before income taxes									352,060	308,010	276,305
Residential
Financial information concerning reportable segments
Net sales									669,131	725,682	672,443
Earnings (loss) before income taxes									73,691	84,956	76,916
Total assets	188,920				217,093				188,920	217,093	172,984
Capital expenditures									13,794	9,953	12,417
Depreciation and amortization									10,406	9,131	8,883
Components of the loss before income taxes included in "Other"
Earnings before income taxes									73,691	84,956	76,916
Other
Financial information concerning reportable segments
Net sales									17,732	25,534	22,670
Earnings (loss) before income taxes									(95,291)	(101,935)	(96,776)
Total assets	$ 423,836				$ 280,879				423,836	280,879	446,345
Capital expenditures									9,633	17,405	33,495
Depreciation and amortization									12,976	11,213	10,027
Components of the loss before income taxes included in "Other"
Corporate expenses									(95,288)	(95,167)	(88,539)
Interest expense									(19,336)	(18,757)	(15,426)
Other income									19,333	11,989	7,189
Earnings before income taxes									(95,291)	(101,935)	(96,776)
Intersegment \| Professional
Financial information concerning reportable segments
Gross sales									28,138	45,634	41,376
Intersegment \| Residential
Financial information concerning reportable segments
Gross sales									354	406	424
Intersegment \| Other
Financial information concerning reportable segments
Gross sales									$ (28,492)	$ (46,040)	$ (41,800)

SEGMENT DATA - Net Sales (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
SEGMENT DATA - Net Sales (Details) - USD ($) $ in Thousands	Oct. 31, 2016	Jul. 29, 2016	Apr. 29, 2016	Jan. 29, 2016	Oct. 31, 2015	Jul. 31, 2015	May 01, 2015	Jan. 30, 2015	Oct. 31, 2016	Oct. 31, 2015	Oct. 31, 2014
Net sales for groups of similar products and services
Net sales	$ 468,356	$ 600,980	$ 836,441	$ 486,398	$ 480,807	$ 609,615	$ 826,242	$ 474,211	$ 2,392,175	$ 2,390,875	$ 2,172,691
Equipment
Net sales for groups of similar products and services
Net sales									2,001,150	2,004,274	1,765,845
Irrigation and lighting
Net sales for groups of similar products and services
Net sales									$ 391,025	$ 386,601	$ 406,846

SEGMENT DATA - Concentration Risk (Details) - Sales - Customer concentration - Single customer - Residential - customer	12 Months Ended
	Oct. 31, 2016	Oct. 31, 2015	Oct. 31, 2014
Concentration Risk
Number of customers	1	1	1
Percentage of consolidated gross sales accounted for by one customer (as a percent)	11.00%	11.00%	11.00%

SEGMENT DATA - Geographic Data (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Oct. 31, 2016	Jul. 29, 2016	Apr. 29, 2016	Jan. 29, 2016	Oct. 31, 2015	Jul. 31, 2015	May 01, 2015	Jan. 30, 2015	Oct. 31, 2016	Oct. 31, 2015	Oct. 31, 2014
Geographic Data
Net sales	$ 468,356	$ 600,980	$ 836,441	$ 486,398	$ 480,807	$ 609,615	$ 826,242	$ 474,211	$ 2,392,175	$ 2,390,875	$ 2,172,691
Long-lived assets	222,038				224,995				222,038	224,995	205,195
United States
Geographic Data
Net sales									1,812,587	1,780,240	1,550,077
Long-lived assets	188,869				190,262				188,869	190,262	169,797
Foreign Countries
Geographic Data
Net sales									579,588	610,635	622,614
Long-lived assets	$ 33,169				$ 34,733				$ 33,169	$ 34,733	$ 35,398

COMMITMENTS AND CONTINGENT LIABILITIES (Details) - USD ($) $ in Thousands	12 Months Ended
	Oct. 31, 2016	Oct. 31, 2015	Oct. 31, 2014
Leases
Rental expense for operating leases	$ 26,363	$ 24,986	$ 24,329
Future minimum lease payments under noncancelable operating leases
Total future minimum lease payments	96,136
2017	15,002
2018	13,540
2019	11,597
2020	10,580
2021	10,042
After 2021	35,375
Purchase Commitments
Amount of noncancelable purchase commitments	5,140
Maximum obligation for the construction of a new corporate headquarters facility	3,038
Remaining obligation for the construction of a new corporate headquarters facility	2,524
Letters of Credit
Letters of credit outstanding	8,984	$ 16,245
Wholesale Financing
Customer Financing
Receivables purchased by third party financing company from the company	28,887
Receivables financed by third party financing company, excluding Red Iron, outstanding	12,316
Maximum amount of contingent liability to repurchase inventory related receivables under limited inventory repurchase agreements	10,389
End-User Financing
Customer Financing
Contingent liabilities for residual value or credit collection risk	0
End-User Financing \| Maximum
Customer Financing
Exposure for credit collection	$ 4,904

FINANCIAL INSTRUMENTS - Cash Flow Hedges (Details) $ in Thousands	3 Months Ended	12 Months Ended
	Jul. 29, 2016 instrument	Oct. 31, 2016 USD ($)
Summary of cash flow hedge activity
Maximum time limit for cash flow hedge		2 years
Cash flow hedge effectiveness testing, grace period		2 months
Forward currency contracts
Summary of cash flow hedge activity
Notional amount \| $		$ 122,497
Currency swap contract
Summary of cash flow hedge activity
Number of derivative contracts terminated \| instrument	1

FINANCIAL INSTRUMENTS - Fair Value of Derivatives (Details) - USD ($) $ in Thousands	Oct. 31, 2016	Oct. 31, 2015
Fair value of derivatives
Asset Derivatives	$ 1,967	$ 5,309
Liability Derivatives	1,765	1,845
Forward currency contracts
Fair value of derivatives
Asset Derivatives	1,967	3,173
Liability Derivatives	1,765	1,711
Forward currency contracts \| Derivatives Designated as Hedging Instruments \| Prepaid expenses and other current assets
Fair value of derivatives
Asset Derivatives	1,535	2,102
Forward currency contracts \| Derivatives Designated as Hedging Instruments \| Accrued liabilities
Fair value of derivatives
Liability Derivatives	973	1,363
Forward currency contracts \| Derivatives Not Designated as Hedging Instruments \| Prepaid expenses and other current assets
Fair value of derivatives
Asset Derivatives	432	1,071
Forward currency contracts \| Derivatives Not Designated as Hedging Instruments \| Accrued liabilities
Fair value of derivatives
Liability Derivatives	$ 792	348
Currency swap contract
Fair value of derivatives
Asset Derivatives		2,136
Liability Derivatives		134
Currency swap contract \| Derivatives Designated as Hedging Instruments \| Accrued liabilities
Fair value of derivatives
Liability Derivatives		134
Currency swap contract \| Derivatives Not Designated as Hedging Instruments \| Prepaid expenses and other current assets
Fair value of derivatives
Asset Derivatives		$ 2,136

FINANCIAL INSTRUMENTS - Impact on Earnings (Details) - USD ($) $ in Thousands	12 Months Ended
	Oct. 31, 2016	Oct. 31, 2015
Derivative Instruments and Hedging Activities
Gain (Loss) Recognized in OCI on Derivatives, net of tax (Effective Portion)	$ (525)	$ (2,232)
Gain (Loss) Reclassified from AOCL into Income Effective Portion	(598)	9,906
Gain (Loss) Recognized in Income on Derivatives Ineffective Portion and Excluded from Effectiveness Testing	608	747
Gain (Loss) Recognized in Net Earnings	(195)	9,103
Expected reclassification of gains from AOCL to earnings during the next twelve months	153
Forward currency contracts \| Net sales
Derivative Instruments and Hedging Activities
Gain (Loss) Recognized in OCI on Derivatives, net of tax (Effective Portion)	(961)	(745)
Gain (Loss) Reclassified from AOCL into Income Effective Portion	2,094	13,067
Forward currency contracts \| Cost of sales
Derivative Instruments and Hedging Activities
Gain (Loss) Recognized in OCI on Derivatives, net of tax (Effective Portion)	181	(1,687)
Gain (Loss) Reclassified from AOCL into Income Effective Portion	(2,598)	(2,806)
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	608	747
Gain (Loss) Recognized in Net Earnings	(4)	7,703
Currency swap contract \| Other income, net
Derivative Instruments and Hedging Activities
Gain (Loss) Recognized in OCI on Derivatives, net of tax (Effective Portion)	255	200
Gain (Loss) Reclassified from AOCL into Income Effective Portion	(94)	(355)
Gain (Loss) Recognized in Net Earnings	$ (191)	$ 1,400

FINANCIAL INSTRUMENTS - Effects of Master Netting Arrangements (Details) - USD ($) $ in Thousands	Oct. 31, 2016	Oct. 31, 2015
Assets
Derivative assets	$ 1,967	$ 5,309
Liabilities
Net Amount of Liabilities Presented in the Balance Sheet	(1,765)	(1,845)
Forward currency contracts
Assets
Gross Amounts of Recognized Assets	2,264	3,380
Gross Liabilities Offset in the Balance Sheets	(297)	(207)
Derivative assets	1,967	3,173
Liabilities
Gross Amounts of Recognized Liabilities	(1,765)	(1,711)
Net Amount of Liabilities Presented in the Balance Sheet	$ (1,765)	(1,711)
Currency swap contract
Assets
Gross Amounts of Recognized Assets		2,136
Derivative assets		2,136
Liabilities
Gross Amounts of Recognized Liabilities		(134)
Net Amount of Liabilities Presented in the Balance Sheet		$ (134)

Fair Value (Details) - USD ($) $ in Thousands	Oct. 31, 2016	Oct. 31, 2015
Assets:
Derivative assets	$ 1,967	$ 5,309
Liabilities:
Derivative liabilities	1,765	1,845
Transfer of assets from level 1 to level 2	0	0
Transfer of assets from level 2 to level 1	0	0
Transfer of liabilities from level 1 to level 2	0	0
Transfer of liabilities from level 2 to level 1	0	0
Long-term debt with fixed interest rates	293,295	298,541
Carrying amount of long-term debt	243,407	254,452
Forward currency contracts
Assets:
Derivative assets	1,967	3,173
Liabilities:
Derivative liabilities	1,765	1,711
Measured on a recurring basis
Assets:
Cash and cash equivalents	273,555	126,275
Total assets	275,522	131,584
Liabilities:
Deferred compensation liabilities	1,149	1,652
Total liabilities	2,914	3,497
Measured on a recurring basis \| Forward currency contracts
Assets:
Derivative assets	1,967	3,173
Liabilities:
Derivative liabilities	1,765	1,711
Measured on a recurring basis \| Cross currency contracts
Assets:
Derivative assets		2,136
Liabilities:
Derivative liabilities		134
Measured on a recurring basis \| Level 1
Assets:
Cash and cash equivalents	273,555	126,275
Total assets	273,555	126,275
Measured on a recurring basis \| Level 2
Assets:
Total assets	1,967	5,309
Liabilities:
Deferred compensation liabilities	1,149	1,652
Total liabilities	2,914	3,497
Measured on a recurring basis \| Level 2 \| Forward currency contracts
Assets:
Derivative assets	1,967	3,173
Liabilities:
Derivative liabilities	$ 1,765	1,711
Measured on a recurring basis \| Level 2 \| Cross currency contracts
Assets:
Derivative assets		2,136
Liabilities:
Derivative liabilities		$ 134

RELATED PARTY TRANSACTION (Details) $ in Thousands	Nov. 14, 2014 USD ($)
Debt
Aggregate principal amount of notes issued	$ 30,000
4% Unsecured Note, due November14, 2017
Debt
Aggregate principal amount of notes issued	$ 30,000
Interest rate percentage	4.00%
Principal payment on each anniversary date	$ 10,000

SUBSEQUENT EVENTS (Details) - Red Iron Acceptance, LLC - USD ($) $ in Thousands		12 Months Ended
	Nov. 29, 2016	Oct. 31, 2016
Subsequent event disclosures
Period of unlimited automatic extensions after the initial term of joint venture		2 years
Maximum borrowing capacity under credit facility		$ 450,000
Subsequent event
Subsequent event disclosures
Initial end date of joint venture, as amended	Oct. 31, 2024
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
Maximum borrowing capacity under credit facility	$ 550,000

QUARTERLY FINANCIAL DATA (unaudited) (Details) - USD ($)
$ / shares in Units, $ in Thousands

3 Months Ended

12 Months Ended

Oct. 31, 2016

Jul. 29, 2016

Apr. 29, 2016

Jan. 29, 2016

Oct. 31, 2015

Jul. 31, 2015

May 01, 2015

Jan. 30, 2015

Oct. 31, 2016

Oct. 31, 2015

Oct. 31, 2014

QUARTERLY FINANCIAL DATA (unaudited)

Net sales

$ 468,356

$ 600,980

$ 836,441

$ 486,398

$ 480,807

$ 609,615

$ 826,242

$ 474,211

$ 2,392,175

$ 2,390,875

$ 2,172,691

Gross profit

172,137

216,617

303,187

182,654

168,574

216,390

281,972

168,999

874,595

835,935

773,271

Net earnings

$ 30,230

$ 55,822

$ 105,681

$ 39,261

$ 23,554

$ 53,324

$ 93,763

$ 30,950

$ 230,994

$ 201,591

$ 173,870

Basic net earnings per share of common stock (in dollars per share)

^[2]

$ 0.28

^[1]

$ 0.51

^[1]

$ 0.96

^[1]

$ 0.36

^[1]

$ 0.21

^[1]

$ 0.48

^[1]

$ 0.84

^[1]

$ 0.28

^[1]

$ 2.10

$ 1.81

$ 1.54

Diluted net earnings per share of common stock (in dollars per share)

^[2]

$ 0.27

^[1]

$ 0.50

^[1]

$ 0.94

^[1]

$ 0.35

^[1]

$ 0.21

^[1]

$ 0.47

^[1]

$ 0.82

^[1]

$ 0.27

^[1]

$ 2.06

$ 1.78

$ 1.51

[1]	Net earnings per share amounts do not equal the full year total due to changes in the number of shares outstanding during the periods and rounding
[2]	Shares and per share data have been adjusted for all periods presented to reflect a two-for-one stock split effective September 16, 2016

SCHEDULE II: Valuation and Qualifying Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Oct. 31, 2016	Oct. 31, 2015	Oct. 31, 2014
Allowance for doubtful accounts and notes receivable reserves
Movement in allowance for doubtful accounts and notes receivable reserves and accrued advertising and marketing programs
Balance at the beginning of the fiscal year	$ 1,378	$ 1,481	$ 3,425
Charged to costs and expense	424	350	(79)
Deductions	193	453	1,865
Balance at the end of the fiscal year	1,609	1,378	1,481
Accrued advertising and marketing programs
Movement in allowance for doubtful accounts and notes receivable reserves and accrued advertising and marketing programs
Balance at the beginning of the fiscal year	76,689	66,169	64,191
Charged to costs and expense	355,509	318,211	306,650
Deductions	350,883	307,691	304,672
Balance at the end of the fiscal year	$ 81,315	$ 76,689	$ 66,169