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Document and Entity Information - USD ($) $ in Billions	12 Months Ended
Document and Entity Information - USD ($) $ in Billions	Oct. 31, 2017	Dec. 15, 2017	May 05, 2017
Document And Entity Information [Abstract]
Entity Registrant Name	TORO CO
Entity Central Index Key	0000737758
Document Type	10-K
Document Period End Date	Oct. 31, 2017
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			$ 7.2
Entity Common Stock, Shares Outstanding		106,620,468
Document Fiscal Year Focus	2017
Document Fiscal Period Focus	FY

Consolidated Statements of Earnings - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Oct. 31, 2017	Oct. 31, 2016	Oct. 31, 2015
Income Statement [Abstract]
Net sales	$ 2,505,176	$ 2,392,175	$ 2,390,875
Cost of sales	1,584,339	1,517,580	1,554,940
Gross profit	920,837	874,595	835,935
Selling, general and administrative expense	565,727	540,199	536,821
Operating earnings	355,110	334,396	299,114
Interest expense	(19,113)	(19,336)	(18,757)
Other income, net	17,187	15,400	10,674
Total operating loss	353,184	330,460	291,031
Provision for income taxes	85,467	99,466	89,440
Net earnings	$ 267,717	$ 230,994	$ 201,591
Basic net earnings per share of common stock (in dollars per share)	$ 2.47	$ 2.10	$ 1.81
Diluted net earnings per share of common stock (in dollars per share)	$ 2.41	$ 2.06	$ 1.78
Weighted-average number of shares of common stock outstanding - Basic (in shares)	108,312	109,834	111,130
Weighted-average number of shares of common stock outstanding - Diluted (in shares)	111,252	111,987	113,514

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Oct. 31, 2017	Oct. 31, 2016	Oct. 31, 2015
Statement of Comprehensive Income [Abstract]
Net earnings	$ 267,717	$ 230,994	$ 201,591
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments, net of tax of $0, $(161), and $(51), respectively	10,127	(7,102)	(11,792)
Pension and retiree medical benefits, net of tax of $2,536, $(1,294), and $299, respectively	4,347	(973)	(120)
Derivative instruments, net of tax of $(1,123), $(605), and $(933), respectively	(158)	(518)	(2,226)
Other comprehensive income (loss), net of tax	14,316	(8,593)	(14,138)
Comprehensive income	$ 282,033	$ 222,401	$ 187,453

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Oct. 31, 2017	Oct. 31, 2016	Oct. 31, 2015
Statement of Comprehensive Income [Abstract]
Foreign currency translation adjustments, tax	$ 0	$ (161)	$ (51)
Pension and retiree medical benefits, tax	2,536	(1,294)	299
Derivative instruments, tax	$ (1,123)	$ (605)	$ (933)

Consolidated Balance Sheets - USD ($) $ in Thousands	Oct. 31, 2017	Oct. 31, 2016
ASSETS
Cash and cash equivalents	$ 310,256	$ 273,555
Receivables, net:
Customers, net of allowances (2017 - $2,147; 2016 - $1,609)	176,008	157,908
Other	7,065	5,357
Total receivables, net	183,073	163,265
Inventories, net	328,992	307,034
Prepaid expenses and other current assets	37,565	35,155
Total current assets	859,886	779,009
Property, plant and equipment, net	235,230	222,038
Property, plant and equipment, net	64,083	57,228
Goodwill	205,029	194,782
Other intangible assets, net	103,743	108,093
Other assets	25,816	23,422
Total assets	1,493,787	1,384,572
LIABILITIES AND STOCKHOLDERS' EQUITY
Current portion of long-term debt	26,258	22,484
Accounts payable	211,752	174,668
Accrued liabilities:
Warranty	74,155	72,158
Advertising and marketing programs	85,934	81,315
Compensation and benefit costs	58,576	52,139
Insurance	6,887	7,502
Interest	7,542	7,931
Other	50,692	45,642
Total current liabilities	521,796	463,839
Long-term debt, less current portion	305,629	328,477
Deferred revenue	24,761	11,830
Deferred income taxes	1,726	0
Other long-term liabilities	22,783	30,391
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	0	0
Common stock, par value $1.00 per share, authorized 175,000,000 shares; issued and outstanding 106,882,972 shares as of October 31, 2017 and 108,427,393 shares as of October 31, 2016	106,883	108,427
Retained earnings	534,329	480,044
Accumulated other comprehensive loss	(24,120)	(38,436)
Total stockholders' equity	617,092	550,035
Total liabilities and stockholders' equity	$ 1,493,787	$ 1,384,572

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Oct. 31, 2017	Oct. 31, 2016
Preferred stock
Preferred stock, par value (in dollars per share)	$ 1.00	$ 1.00
Preferred stock, issued (in shares)	0	0
Preferred stock, outstanding (in shares)	0	0
Common stock
Common stock, par value (in dollars per share)	$ 1.00	$ 1.00
Common stock, authorized (in shares)	175,000,000	175,000,000
Common stock, issued (in shares)	106,882,972	108,427,393
Common stock, outstanding (in shares)	106,882,972	108,427,393
Customers, allowance for doubtful accounts (in dollars)	$ 2,147	$ 1,609
Voting Preferred Stock
Preferred stock
Preferred stock, authorized (in shares)	1,000,000	1,000,000
Nonvoting Preferred Stock
Preferred stock
Preferred stock, authorized (in shares)	850,000	850,000

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Oct. 31, 2017	Oct. 31, 2016	Oct. 31, 2015
Cash flows from operating activities:
Net earnings	$ 267,717	$ 230,994	$ 201,591
Adjustments to reconcile net earnings to net cash provided by operating activities:
Non-cash income from finance affiliate	(9,960)	(9,588)	(8,353)
Distributions from finance affiliate, net	8,050	9,848	4,264
Provision for depreciation, amortization and impairment loss	64,986	64,097	63,143
Stock-based compensation expense	13,517	10,637	10,836
Deferred income taxes	(6,887)	10,075	200
Other	202	(464)	(128)
Changes in operating assets and liabilities, net of effect of acquisitions:
Receivables, net	(17,701)	15,785	(25,647)
Inventories, net	(15,611)	23,192	(52,656)
Prepaid expenses and other assets	(3,424)	(905)	(607)
Accounts payable, accrued liabilities, deferred revenue and other long-term liabilities	59,859	30,614	56,949
Net cash provided by operating activities	360,748	384,285	249,592
Cash flows from investing activities:
Purchases of property, plant and equipment	(58,276)	(50,723)	(56,374)
Proceeds from asset disposals	199	310	179
Proceeds from sale of a business	0	1,500	0
Purchase of noncontrolling interest	(1,500)	0	0
Acquisitions, net of cash acquired	(24,181)	0	(198,329)
Net cash used in investing activities	(83,758)	(48,913)	(254,524)
Cash flows from financing activities:
Short-term debt repayments, net	0	(1,161)	(21,283)
Payments on long-term debt	(19,136)	(24,107)	(7,227)
Proceeds from exercise of stock options	10,274	20,226	9,203
Payments of withholding taxes for stock awards	(1,294)	(2,013)	(1,000)
Purchases of Toro common stock	(159,354)	(109,986)	(105,964)
Dividends paid on Toro common stock	(75,758)	(65,890)	(55,549)
Net cash used in financing activities	(245,268)	(182,931)	(181,820)
Effect of exchange rates on cash and cash equivalents	4,979	(5,161)	(1,846)
Net increase (decrease) in cash and cash equivalents	36,701	147,280	(188,598)
Cash and cash equivalents as of the beginning of the fiscal period	273,555	126,275	314,873
Cash and cash equivalents as of the end of the fiscal period	310,256	273,555	126,275
Cash paid during the fiscal year for:
Interest	19,457	19,883	18,133
Income taxes	97,057	82,225	77,043
Shares issued in connection with stock-based compensation plans	7,036	6,985	7,705
Payment obligations issued in connection with acquisitions	$ 0	$ 0	$ 31,161

Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock	Retained Earnings	Accumulated Other Comprehensive Loss
Balance at Oct. 31, 2014	$ 408,727	$ 111,356	$ 313,076	$ (15,705)
Increase (Decrease) in Stockholders' Equity
Dividends paid on Toro common stock	(55,549)
Cash dividends paid on common stock	(55,549)		(55,549)
Issuance of shares for stock options exercised and restricted stock units vested during 2016, 2015, and 2014, respectively	8,236	1,098	7,138
Stock-based compensation expense	10,836
Stock-based compensation expense	10,836		10,836
Contribution of stock to a deferred compensation trust	967		967
Purchase of shares of common stock during 2016, 2015, and 2014, respectively	(106,964)	(3,152)	(103,812)
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	462,165	109,302	382,706	(29,843)
Increase (Decrease) in Stockholders' Equity
Dividends paid on Toro common stock	(65,890)
Cash dividends paid on common stock	(65,890)		(65,890)
Issuance of shares for stock options exercised and restricted stock units vested during 2016, 2015, and 2014, respectively	19,026	1,801	17,225
Stock-based compensation expense	10,637
Stock-based compensation expense	10,637		10,637
Contribution of stock to a deferred compensation trust	1,200		1,200
Purchase of shares of common stock during 2016, 2015, and 2014, respectively	(111,999)	(2,676)	(109,323)
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	550,035	108,427	480,044	(38,436)
Increase (Decrease) in Stockholders' Equity
Net earnings	44,990
Balance at Oct. 31, 2016	550,035	108,427	480,044	(38,436)
Increase (Decrease) in Stockholders' Equity
Dividends paid on Toro common stock	(75,758)
Cash dividends paid on common stock	(75,758)		(75,758)
Issuance of shares for stock options exercised and restricted stock units vested during 2016, 2015, and 2014, respectively	9,454	1,186	8,268
Stock-based compensation expense	13,517
Stock-based compensation expense	13,517		13,517
Contribution of stock to a deferred compensation trust	820		820
Purchase of shares of common stock during 2016, 2015, and 2014, respectively	(160,648)	(2,730)	(157,918)
Other comprehensive loss	14,316			14,316
Net earnings	267,717		267,717
Balance at Oct. 31, 2017	617,092	$ 106,883	534,329	$ (24,120)
Increase (Decrease) in Stockholders' Equity
Cumulative effect adjustment ASU 2016-16	$ (2,361)		$ (2,361)

Consolidated Statements of Stockholders' Equity (Parenthetical) - $ / shares	12 Months Ended
	Oct. 31, 2017	Oct. 31, 2016	Oct. 31, 2015
Statement of Stockholders' Equity [Abstract]
Cash dividends paid on common stock (in dollars per share)	$ 0.70	$ 0.60	$ 0.50
Issuance of options (in shares)	1,185,601	1,801,136	1,096,972
Purchase of shares of common stock (in shares)	2,730,022	2,675,575	3,151,978

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND RELATED DATA

12 Months Ended

Oct. 31, 2017

Organization, Consolidation and Presentation of Financial Statements [Abstract]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND RELATED DATA



1	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND RELATED DATA

Basis of Presentation and Consolidation

The accompanying Consolidated Financial Statements include the accounts of The Toro Company and its wholly owned subsidiaries (the "company"). 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 equity method investments. 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 cost method 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 for prior periods presented in this report.

Accounting Estimates

In preparing the Consolidated Financial Statements in conformity with United States ("U.S.") generally accepted accounting principles ("U.S. GAAP"), management must make decisions that impact the reported amounts of assets, liabilities, revenues, expenses, and the related disclosures, including disclosures of contingent assets and liabilities. Such decisions include the selection of the appropriate accounting principles to be applied and the assumptions on which to base accounting estimates. Estimates are used in determining, among other items, sales promotions and incentives accruals, incentive compensation accruals, income tax accruals, inventory valuation, warranty reserves, earn-out liabilities, allowance for doubtful accounts, pension and post-retirement accruals, self-insurance accruals, useful lives for tangible and definite-lived intangible assets, and future cash flows associated with impairment testing for goodwill, indefinite-lived intangible assets 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. Cash equivalents are stated at cost, which approximates fair value. As of October 31, 2017, cash and short-term investments held by the company's foreign subsidiaries that are not available to fund domestic operations unless repatriated were $133,488.

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 estimated allowance for doubtful accounts.

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 31 percent and 33 percent of total inventories as of October 31, 2017 and 2016, 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 2017 LIFO layers were not reduced; however, in fiscal 2016 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.

Inventories were as follows:



October 31	2017		2016
Raw materials and work in process	$	100,077	$	90,463
Finished goods and service parts	295,716		274,929
Total FIFO value	395,793		365,392
Less: adjustment to LIFO value	66,801		58,358
Total inventories, net	$	328,992	$	307,034

Property and Depreciation

Property, plant and equipment are carried at cost. The company provides for depreciation of property, 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. Machinery and equipment are generally depreciated over two to 15 years and tooling costs are generally depreciated over three to five years. Software and web site development costs are generally amortized over two to five years. Expenditures for major renewals and improvements, which substantially increase the useful lives of existing assets, are capitalized, and expenditures for general 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, 2017, 2016, and 2015, the company capitalized $344, $549, and $897 of interest, respectively.

Property, plant and equipment was as follows:



October 31	2017		2016
Land and land improvements	$	38,060	$	34,744
Buildings and leasehold improvements	194,995		182,121
Machinery and equipment	349,976		325,595
Tooling	197,299		200,842
Computer hardware and software	88,152		85,173
Construction in process	17,132		9,561
Property, plant and equipment	885,614		838,036
Less: accumulated depreciation	650,384		615,998
Property, plant and equipment, net	$	235,230	$	222,038

During fiscal years 2017, 2016, and 2015, the company recorded depreciation expense of $54,679, $53,355, and $50,322, respectively.

Goodwill and Indefinite-Lived 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 certain trade names, which are considered to have indefinite lives, are not amortized; however, the company reviews them for impairment annually during the fourth quarter of each fiscal year or more frequently if changes in circumstances or occurrence of events suggest the fair value may not be recoverable.

During the fourth quarter of fiscal 2017, the company performed its annual goodwill impairment test. In performing the annual goodwill impairment test, the company first reviewed its reporting units and 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. Next, the company performed an analysis of qualitative factors to determine whether changes in events or circumstances indicate that it is more likely than not that the fair value of a reporting unit is less than its carrying amount and accordingly, whether it is necessary to perform a quantitative 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 quantitative two-step goodwill impairment test for any of its reporting units.

During the fourth quarter of fiscal 2017, the company also performed an assessment of its indefinite-lived 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-lived intangible assets were not impaired during fiscal 2017, 2016, or 2015.

Other Long-Lived Assets

Other long-lived assets consist of property, plant and equipment and definite-lived intangible assets. The company's definite-lived intangible assets 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 one 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. Asset groups have identifiable cash flows and are largely independent of other asset groups. 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. 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. Based on the company's impairment analysis for other long-lived assets, the company did not have any impairment losses for fiscal 2017 and 2016. For fiscal 2015, the company wrote down $1,383 of other long-lived assets.

For other long-lived assets to be abandoned, the company tests for potential impairment. If the company commits to a plan to abandon or dispose of an other long-lived asset before the end of its previously estimated useful life, depreciation or amortization estimates are revised.

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, 2017 and 2016, $24,455 and $16,249, 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 employee medical, dental, workers' compensation and certain product liability claims. 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 recognizes expense and provides an accrual for estimated future warranty costs at the time of sale and also establishes accruals for major rework campaigns. Warranty accruals are 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	2017			2016
Beginning balance	$	72,158		$	70,734
Warranty provisions	46,150			44,260
Warranty claims	(40,940		)	(41,102		)
Changes in estimates	(3,213		)	(1,734		)
Ending balance	$	74,155		$	72,158

Derivatives

Derivative instruments, 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 may also utilize forward currency contracts or cross currency swaps to offset intercompany loan exposures. All derivative instruments are recognized on the Consolidated Balance Sheets at fair value as either assets or liabilities. If the derivative instrument is designated as a cash flow hedging instrument, the effective portion of the change in the fair value of the derivative instrument is recorded as a component of other comprehensive income within the Consolidated Statements of Comprehensive Income and the Consolidated Statements of Stockholders' Equity until net earnings is affected by the variability of the cash flows of the hedged transaction. Derivatives that do not meet the requirements for cash flow hedge accounting are adjusted to fair value through other income, net, on 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 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, 2017 and 2016 was $19,327 and $22,443, 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. The company's 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.

Examples of significant sales promotions and incentive programs in which the related expense is classified as a reduction from gross sales are as follows:


•	Off-Invoice Discounts: The company's costs for off-invoice discounts represent a reduction in the selling price of its products given at the time of sale.


•	Rebate Programs: The company's rebate programs are generally based on claims submitted from either its direct customers or end-users of its products, depending upon the program. The amount of the rebate varies based on the specific program and is either a dollar amount or a percentage of the purchase price and can also be based on actual retail price as compared to the company's selling price.


•	Incentive Discounts: The company's costs for incentive discount programs are based on its customers’ purchases of certain quantities or mixes of product during a specified time period which are tracked on an annual basis.

•

Financing Programs: The company's costs for financing programs, namely floor planning and retail financing, represent financing costs associated with programs under which it pays a portion of the interest cost to finance distributor and dealer inventories through third party financing arrangements for a specific period of time. Retail financing is similar to floor planning with the difference being that retail financing programs are offered to end-user customers under which the company pays a portion of interest costs on behalf of end-users for financing purchases of its equipment.


•	Commissions Paid to Home Center Customers: The company pays commissions to home center customers as an off-invoice discount. These commissions do not represent any selling effort by the home center customer but rather is a discount from the selling price of the product.

Examples of significant sales promotions and incentive programs in which the related expense is classified as a component of selling, general, and administrative expense are as follows:

•

Commissions Paid to Distributors and Dealers: For certain products, the company uses a distribution network of dealers and distributors that purchase and take possession of products for sale to the end customer. In addition, the company has dealers and distributors that act as sales agents for it on certain products using a direct-selling type model. Under this direct-selling type model, the company's network of distributors and dealers facilitates a sale directly to the dealer or end-user customer on its behalf. Commissions to distributors and dealers in these instances represent commission payments to sales agents that are also its customers.

•

Cooperative Advertising: Cooperative advertising programs are based on advertising costs incurred by distributors and dealers for promoting the company's products. The company supports a portion of those advertising costs in which claims are submitted by the distributor or dealer along with evidence of the advertising material procured/produced and evidence of the cost incurred in the form of third party invoices or receipts.

Cost of Sales

Cost of sales is primarily comprised of direct materials and supplies consumed to manufacture the company's products, as well as manufacturing labor 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 Red Iron and in limited instances, a third-party financing company for certain of the company's independent dealers in Australia. The company has repurchased immaterial amounts of inventory under these repurchase agreements over the last three fiscal years.

Included as a reduction to gross 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 to assist customers in financing inventory. The financing costs for distributor and dealer inventories were $30,106, $28,773, and $24,130 for the fiscal years ended October 31, 2017, 2016 and 2015, 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 $42,963, $41,837, and $42,843 for the fiscal years ended October 31, 2017, 2016, and 2015, 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)	2017	2016	2015¹
Basic
Weighted-average number of shares of common stock	108,299	109,816	111,107
Assumed issuance of contingent shares	13	18	23
Weighted-average number of shares of common stock and assumed issuance of contingent shares	108,312	109,834	111,130

Diluted
Weighted-average number of shares of common stock and assumed issuance of contingent shares	108,312	109,834	111,130
Effect of dilutive securities	2,940	2,153	2,384
Weighted-average number of shares of common stock, assumed issuance of contingent shares, and effect of dilutive securities	111,252	111,987	113,514


¹	Share data has been adjusted for prior 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 353,897, 310,566, and 290,120 shares of common stock during fiscal 2017, 2016, and 2015, 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 April 2015, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2015-03, Interest-Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs. This amended guidance requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of the related debt liability. This amended guidance was retrospectively adopted in the first quarter of fiscal 2017. Prior periods have been retrospectively adjusted for the adoption of this amended guidance and are reclassified in the Consolidated Balance Sheets presentation as a direct deduction from the carrying amount of the related debt liability. The adoption of this guidance did not have a material impact on the company's Consolidated Financial Statements.

In April 2015, the FASB issued ASU No. 2015-05, Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement.

This amended guidance requires customers to determine whether or not an arrangement contains a software license element. If the arrangement contains a software element, the related fees paid should be accounted for as an acquisition of a software license. If the arrangement does not contain a software license, it is accounted for as a service contract. This amended guidance was adopted in the first quarter of fiscal 2017. The adoption of this guidance did not have an impact on the company's Consolidated Financial Statements.

In March 2016, the FASB issued ASU No. 2016-09, Stock-based Compensation: Improvements to Employee Share-based Payment Accounting. This amended guidance simplifies several aspects of the accounting for share-based payment transactions, including the accounting for income taxes, forfeitures, statutory tax withholding requirements, and statement of cash flow classification. The company elected to early adopt this amended guidance effective November 1, 2016, which was the first day of the company's first quarter of fiscal 2017.

The impact of the early adoption resulted in the following:

•

The company recorded a discrete tax benefit of $19,719 related to the excess tax benefit on share-based awards within income tax expense for the twelve months ended October 31, 2017. Prior to the adoption of this standard, these tax benefits were included in additional paid-in capital on the Consolidated Balance Sheets. Adoption of this standard could add increased variability to the company's provision for income taxes mainly due to timing of stock option exercises, vesting of restricted stock units and the company's common stock price.


•	The company elected not to change its policy on accounting for forfeitures and will continue to estimate a requisite forfeiture rate.


•	The company has elected to change its policy on tax withholding requirements and will allow participants to withhold up to the maximum statutory rate prospectively on new awards. As of November 1, 2016, the company did not have any outstanding liabilities on awards which would require a cumulative-effect adjustment to retained earnings.

•

The company no longer presents the cash received from excess tax benefits within cash flows from financing activities as this benefit is now reflected within cash flows from operating activities in the Consolidated Statements of Cash Flows. The company elected to apply this change retrospectively and the change resulted in a $19,719, $12,495, and $8,459 increase in cash flows from operating activities for the twelve months ended October 31, 2017, 2016, and 2015, respectively.

In October 2016, the FASB issued ASU No. 2016-16, Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than

Inventory. This amended guidance removes the prohibition against the immediate recognition of the current and deferred tax effects of intra-entity transfers of assets other than inventory. This amended guidance was early adopted in the first quarter of fiscal 2017 using a modified retrospective basis. The company recorded a cumulative effect adjustment to the beginning balance of its retained earnings in the first quarter of fiscal 2017 for remaining unamortized deferred tax expense of intra-entity transfers of fixed assets totaling $2,361.

In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments, which amends guidance on the classification of certain cash receipts and payments in the statement of cash flows. The company elected to early adopt this amended guidance retrospectively effective November 1, 2016. The retrospective early adoption resulted in an $8,050, $9,848, and $4,264 increase in cash flows from operating activities for the twelve months ended October 31, 2017, 2016, and 2015, respectively.

In January 2017, the FASB issued ASU No. 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business, which clarifies the definition of a business in Accounting Standards Codification 805. The company elected to early adopt this amended guidance retrospectively in the fourth quarter of fiscal 2017. The adoption of this guidance did not have an impact on the company's Consolidated Financial Statements.

ACQUISITION	12 Months Ended
ACQUISITION	Oct. 31, 2017
Business Combinations [Abstract]
ACQUISITION	Effective January 1, 2017, during the first quarter of fiscal 2017, the company completed the acquisition of all the outstanding shares of Regnerbau Calw GmbH ("Perrot"), a privately held manufacturer of professional irrigation equipment. The addition of these products broadens and strengthens the company's irrigation solutions for the sport, agricultural, and industrial markets. The acquisition was funded with existing foreign cash and cash equivalents. 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 recorded as goodwill. As of October 31, 2017, the company has finalized the purchase accounting for the acquisition. This acquisition was immaterial based on the company's Consolidated Financial Condition and Results of Operations.

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 5
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Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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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 5: http://www.xbrl.org/2003/role/presentationRef
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Reference 6: http://www.xbrl.org/2003/role/presentationRef
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Reference 7: http://www.xbrl.org/2003/role/presentationRef
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-URI http://asc.fasb.org/extlink&oid=73530397&loc=d3e4845-128472

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
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Reference 9: http://www.xbrl.org/2003/role/presentationRef
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Reference 13: http://www.xbrl.org/2003/role/presentationRef
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Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 15: http://www.xbrl.org/2003/role/presentationRef
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+ Details

INVESTMENT IN JOINT VENTURE

12 Months Ended

Oct. 31, 2017

Equity Method Investments and Joint Ventures [Abstract]

INVESTMENT IN JOINT VENTURE

In fiscal 2009, the company and TCFIF, a subsidiary of TCF National Bank, established 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. On November 29, 2016, during the first quarter of fiscal 2017, the company entered into amended agreements for its Red Iron joint venture with TCFIF. As a result, the amended term of Red Iron will continue until October 31, 2024, subject to two-year extensions thereafter. Either the company or TCFIF may elect not to extend the amended term, or any subsequent term, by giving one-year written notice to the other party.

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. Red Iron borrows the remaining requisite estimated cash utilizing a $550,000 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, 2017 and 2016 was $20,626 and $18,719, 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 2017, 2016, and 2015 was $1,847,740, $1,713,588, and $1,430,855, respectively.

Summarized financial information for Red Iron is presented as follows:



For the Twelve Months Ended October 31	2017			2016			2015
Revenues	$	35,158		$	31,812		$	27,483
Interest and operating expenses, net	(13,030		)	(10,506		)	(8,885		)
Net income	$	22,128		$	21,306		$	18,598



As of October 31	2017		2016
Finance receivables, net	$	407,533	$	370,169
Other assets	2,888		4,416
Total assets	$	410,421	$	374,585

Notes payable	$	347,968	$	321,378
Other liabilities	16,617		11,607
Partners' capital	45,836		41,600
Total liabilities and partners' capital	$	410,421	$	374,585

OTHER INCOME, NET

12 Months Ended

Oct. 31, 2017

Other Income and Expenses [Abstract]

OTHER INCOME, NET



4	OTHER INCOME, NET

Other income (expense) is as follows:



Fiscal Years Ended October 31	2017			2016		2015
Interest income	$	1,359		$	827	$	494
Retail financing revenue	1,097			1,087		1,086
Foreign currency exchange rate gain (loss)	1,543			974		(324		)
Gain on sale of business	—			340		—
Non-cash income from finance affiliate	9,960			9,588		8,353
Litigation recovery (settlements), net	(65		)	1,300		125
Miscellaneous	3,293			1,284		940
Total other income, net	$	17,187		$	15,400	$	10,674

GOODWILL AND OTHER INTANGIBLE ASSETS

12 Months Ended

Oct. 31, 2017

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND OTHER INTANGIBLE ASSETS

Goodwill

The changes in the carrying amount of goodwill for fiscal 2017 and 2016 were as follows:



	Professional Segment			Residential Segment			Total
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
Goodwill acquired	8,921			—			8,921
Translation adjustments	1,205			121			1,326
Balance as of October 31, 2017	$	194,464		$	10,565		$	205,029

Other Intangible Assets

During the fourth quarter of fiscal 2017, the company performed an evaluation of the company's definite-lived trade name intangible assets and determined that circumstances no longer continued to support a finite useful life for the company's BOSS® trade name intangible asset within the company’s Professional segment and accordingly, the company reclassified the definite-lived BOSS trade name to the company's indefinite-lived intangible asset portfolio. This determination was reached as BOSS's industry recognition and brand has strengthened, and the company plans to use the BOSS trade name into the foreseeable future.

The company performed a quantitative impairment analysis on the BOSS trade name as of October 31, 2017 by comparing the carrying value of the BOSS trade name to its fair value. The company’s estimate of the fair value of the BOSS trade name was 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 BOSS trade name, and a discount rate. Based on this analysis, the company concluded the BOSS trade name was not impaired as of October 31, 2017.

The cost basis of the definite-lived BOSS trade name reclassified to the company's indefinite-lived non-amortizable - trade names category was $23,120 as of October 31, 2017. The BOSS trade name had a remaining useful life of approximately 17 years at the time of the change in classification. The change in classification is estimated to reduce the company's annual amortization expense by approximately $1,360 for future fiscal years.

The components of other intangible assets were as follows:



October 31, 2017	Gross Carrying Amount		Accumulated Amortization			Net
Patents	$	15,162	$	(11,599	)	$	3,563
Non-compete agreements	6,896		(6,775		)	121
Customer-related	87,461		(18,940		)	68,521
Developed technology	30,212		(26,939		)	3,273
Trade names	2,330		(1,637		)	693
Other	800		(800		)	—
Total amortizable	142,861		(66,690		)	76,171
Non-amortizable - trade names	27,572		—			27,572
Total other intangible assets, net	$	170,433	$	(66,690	)	$	103,743



October 31, 2016	Gross Carrying Amount		Accumulated Amortization			Net
Patents	$	15,151	$	(10,866	)	$	4,285
Non-compete agreements	6,886		(6,681		)	205
Customer-related	84,353		(14,434		)	69,919
Developed technology	28,648		(23,712		)	4,936
Trade names	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

Amortization expense for definite-lived intangible assets for the fiscal years ended October 31, 2017, 2016, and 2015 was $9,876, $9,550, and $11,438, respectively. Estimated amortization expense for the succeeding fiscal years is as follows: 2018, $6,656; 2019, $5,778; 2020, $5,222; 2021, $4,818; 2022, $4,683; and after 2022, $49,014.

- 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
SHORT-TERM CAPITAL RESOURCES	Oct. 31, 2017
SHORT-TERM CAPITAL RESOURCES
SHORT-TERM CAPITAL RESOURCES	As of October 31, 2017, 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 with 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. In addition, the company's non-U.S. operations also maintain short-term lines of credit in the aggregate amount of $9,186. These facilities bear interest at various rates depending on the rates in their respective countries of operation. As of October 31, 2017 and October 31, 2016, the company had no outstanding short-term debt under these lines of credit. 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 2017, 2016, and 2015, 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. As of October 31, 2017 and 2016, the company was in compliance with all covenants related to the credit agreement for the revolving credit facility.

LONG-TERM DEBT

12 Months Ended

Oct. 31, 2017

Debt Disclosure [Abstract]

LONG-TERM DEBT

A summary of long-term debt is as follows:



October 31	2017			2016
Term loan, due October 25, 2019	$	100,750		$	110,500
7.800% Debentures, due June 15, 2027	100,000			100,000
6.625% Senior Notes, due May 1, 2037	123,792			123,730
4% Unsecured Note, due November 14, 2017	10,008			19,677
Less: unamortized discounts, debt issuance costs and deferred charges	(2,663		)	(2,946		)
Total long-term debt	331,887			350,961
Less: current portion of long-term debt	26,258			22,484
Long-term debt, less current portion	$	305,629		$	328,477

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 a new credit agreement that included a 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 percent senior notes due May 1, 2037. The senior notes were priced at 98.513 percent 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 percent, the effective interest rate is 6.741 percent 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 percent 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 percent coupon 10-year notes and $100,000 of 7.8 percent coupon 30-year debentures. The $75,000 of 7.125 percent 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 was deferred and is being recognized as an adjustment to interest expense over the term of the debt securities issued.

Principal payments required on long-term debt in each of the next five fiscal years ending October 31 are as follows: 2018, $26,258; 2019, $84,500; 2020, $0; 2021, $0; 2022, $0; and after 2022, $223,792.

STOCKHOLDERS' EQUITY

12 Months Ended

Oct. 31, 2017

Stockholders' Equity Note [Abstract]

STOCKHOLDERS' EQUITY

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

Stock Repurchase Program

On December 3, 2015, the company's Board of Directors authorized the repurchase of 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 company's Board of Directors at any time.

During fiscal 2017, 2016, and 2015, the company paid $159,354, $109,986, and $105,964 to repurchase an aggregate of 2,710,837 shares, 2,625,913 shares, and 3,122,358 shares, respectively, under the Board's authorized stock repurchase program. As of October 31, 2017, 4,981,878 shares remained authorized by the company's Board of Directors for repurchase. The Board of Directors authorized shares for repurchase does not include shares of the company's common stock surrendered by employees to satisfy minimum tax withholding obligations upon vesting of certain equity securities granted under the company's stock-based compensation plans.

Treasury Shares

As of October 31, 2017, the company had a total of 21,245,028 treasury shares at a cost of $1,369,548. As of October 31, 2016, the company had a total of 19,700,607 treasury shares at a cost of $1,280,495.

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	2017		2016		2015
Foreign currency translation adjustments	$	21,303	$	31,430	$	24,328
Pension and post-retirement benefits	2,012		6,359		5,386
Derivative instruments	805		647		129
Total accumulated other comprehensive loss	$	24,120	$	38,436	$	29,843

The components and activity of AOCL are as follows:



	Foreign Currency Translation Adjustments			Pension and Post-Retirement Benefits			Cash Flow Derivative Instruments			Total
Balance as of October 31, 2016	$	31,430		$	6,359		$	647		$	38,436
Other comprehensive income before reclassifications	(10,127		)	(4,347		)	(233		)	(14,707		)
Amounts reclassified from AOCL	—			—			391			391
Net current period other comprehensive (income) loss	(10,127		)	(4,347		)	158			(14,316		)
Balance as of October 31, 2017	$	21,303		$	2,012		$	805		$	24,120



	Foreign Currency Translation Adjustments		Pension and Post-Retirement Benefits		Cash Flow Derivative Instruments			Total
Balance as of October 31, 2015	$	24,328	$	5,386	$	129		$	29,843
Other comprehensive loss before reclassifications	7,102		973		1,116			9,191
Amounts reclassified from AOCL	—		—		(598		)	(598		)
Net current period other comprehensive loss	7,102		973		518			8,593
Balance as of October 31, 2016	$	31,430	$	6,359	$	647		$	38,436

For additional information on the components of AOCL associated with pension and post-retirement benefits refer to Note 11. For additional information on the components reclassified from AOCL to the respective line items in net earnings for derivative instruments refer to 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

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

INCOME TAXES

12 Months Ended

Oct. 31, 2017

Income Tax Disclosure [Abstract]

INCOME TAXES

Earnings before income taxes were as follows:



Fiscal Years Ended October 31	2017		2016		2015
Earnings before income taxes:
U.S.	$	307,136	$	292,184	$	254,276
Foreign	46,048		38,276		36,755
Total earnings before income taxes	$	353,184	$	330,460	$	291,031

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	2017		2016		2015
Statutory federal income tax rate	35.0	%	35.0	%	35.0	%
Excess deduction for stock compensation	(5.3	)	—		—
Domestic manufacturer's deduction	(1.2	)	(0.8	)	(1.7	)
State and local income taxes, net of federal benefit	0.5		1.5		2.2
Foreign taxes	(2.3	)	(1.8	)	(3.1	)
Federal research tax credit	(1.5	)	(1.5	)	(0.9	)
Other, net	(1.0	)	(2.3	)	(0.8	)
Consolidated effective tax rate	24.2	%	30.1	%	30.7	%

Components of the provision for income taxes were as follows:



Fiscal Years Ended October 31	2017			2016		2015
Current provision:
Federal	$	83,091		$	77,685	$	75,496
State	3,036			6,929		9,389
Foreign	8,166			6,295		6,219
Total current provision	$	94,293		$	90,909	$	91,104
Deferred provision (benefit):
Federal	$	(8,774	)	$	7,283	$	430
State	(101		)	297		—
Foreign	49			977		(2,094		)
Total deferred provision (benefit)	(8,826		)	8,557		(1,664		)
Total provision for income taxes	$	85,467		$	99,466	$	89,440

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



October 31	2017			2016
Deferred income tax assets:
Compensation and benefits	$	38,753		$	37,200
Warranty and insurance	23,993			17,443
Advertising and sales allowance	10,428			11,185
Other	12,234			10,327
Valuation allowance	(1,951		)	(1,867		)
Total deferred income tax assets	$	83,457		$	74,288
Deferred income tax liabilities:
Depreciation	$	(13,259	)	$	(13,578	)
Amortization	(7,841		)	(3,482		)
Total deferred income tax liabilities	(21,100		)	(17,060		)
Deferred income tax assets, net	$	62,357		$	57,228

The valuation allowance as of October 31, 2017 and 2016 principally applies to capital loss carryforwards, state credit carryforwards, and foreign net operating loss carryforwards that are expected to expire prior to utilization.

As of October 31, 2017, the company had net operating loss carryforwards of approximately $6,569 in foreign jurisdictions. The carryforward periods are as follows: $3,327 that do not expire; and $3,242 that expire between fiscal years 2018 and 2026.

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 $159,003 as of October 31, 2017. 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:



Unrecognized tax benefits as of October 31, 2016	$	5,175
Increase as a result of tax positions taken during a prior period	432
Increase as a result of tax positions taken during the current period	948
Decrease relating to settlements with taxing authorities	(2,673		)
Reductions as a result of statute of limitations lapses	(769		)
Unrecognized tax benefits as of October 31, 2017	$	3,113

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 $3,113 for unrecognized tax benefits as of October 31, 2017, the company had an amount of approximately $236 of accrued interest and penalties.

Included in the balance of unrecognized tax benefits as of October 31, 2017 are potential benefits of $2,177 that, if recognized, would affect the effective tax rate from continuing operations.

The company and its wholly owned 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 foreign income tax examinations by tax authorities for taxable years before fiscal 2013. The Internal Revenue Service is completing an audit of fiscal 2015, with no material adjustments to tax expense or unrecognized tax benefits expected. The company is under audit in several state jurisdictions and one foreign jurisdiction, 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, 2017

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

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.

Share and per share data have been adjusted for prior year periods presented to reflect a two-for-one stock split that was effective September 16, 2016.

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



Fiscal Years Ended October 31	2017		2016		2015
Stock option awards	$	5,496	$	4,606	$	4,704
Restricted stock and restricted stock units	2,300		1,891		1,756
Performance share awards	5,183		3,676		3,964
Unrestricted common stock awards	538		464		412
Total compensation cost for stock-based awards	$	13,517	$	10,637	$	10,836
Related tax benefit from stock-based awards	$	5,001	$	3,936	$	4,009

The number of unissued shares of common stock available for future equity-based grants under the 2010 plan was 5,517,897 as of October 31, 2017. 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 2017, 2016 and 2015, 11,412, 12,320 and 13,360 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 are 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. 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 2017:



	Stock Option Awards		Weighted-Average Exercise Price		Weighted-Average Contractual Life (years)	Aggregate Intrinsic Value
Outstanding as of October 31, 2016	4,879,984		$	20.07	5.3	$	135,697
Granted	554,364		55.82
Exercised	(954,909	)	11.48
Canceled/forfeited	(19,744	)	51.74
Outstanding as of October 31, 2017	4,459,695		$	26.22	5.3	$	163,369
Exercisable as of October 31, 2017	3,331,979		$	19.64	4.3	$	143,960

As of October 31, 2017, there was $3,129 of total unrecognized compensation expense related to unvested stock options. That cost is expected to be recognized over a weighted-average period of 1.99 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	2017		2016		2015
Market value of stock options exercised	$	58,976	$	61,468	$	27,860
Intrinsic value of options exercised¹	$	48,017	$	41,365	$	18,739


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. The expected life is a significant assumption as it determines the period for which the risk-free interest rate, stock price 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 exercise experience. The company groups executive officers and non-employee directors for valuation purposes based on similar historical exercise behavior. Expected stock price volatilities are based on the daily 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 options granted in the following fiscal periods:



Fiscal Years Ended October 31	2017			2016			2015
Expected life of option in years	6.02			5.97			5.94
Expected stock price volatility	22.15		%	24.04		%	29.66		%
Risk-free interest rate	2.03		%	1.80		%	1.61		%
Expected dividend yield	1.01		%	1.24		%	1.29		%
Weighted-average fair value at date of grant	$	12.55		$	8.79		$	8.41

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 restricted stock and restricted stock unit 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 are as follows:



Fiscal Years Ended October 31	2017		2016		2015
Weighted-average fair value at date of grant	$	66.09	$	41.83	$	33.88
Fair value of restricted stock and restricted stock units vested	$	3,604	$	2,681	$	2,744

The table below summarizes the activity during fiscal 2017 for unvested restricted stock units:



	Restricted Stock Units		Weighted-Average Fair Value at Date of Grant
Unvested as of October 31, 2016	139,480		$	34.51
Granted	43,167		66.09
Vested	(53,709	)	33.14
Forfeited	(4,666	)	37.38
Unvested as of October 31, 2017	124,272		$	45.66

As of October 31, 2017, there was $2,953 of total unrecognized compensation expense related to unvested restricted stock units. That cost is expected to be recognized over a weighted-average period of 2.15 years.

Performance Share Awards

Under the 2010 plan, 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 can be increased (up to 200 percent of target levels) or reduced (down to zero) based on the level of achievement of performance goals and will 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	2017		2016		2015
Weighted-average fair value at date of grant	$	54.52	$	38.89	$	32.84
Fair value of performance share awards vested	$	7,018	$	7,454	$	7,989

The table below summarizes the activity during fiscal 2017 for unvested performance share awards:



	Performance Shares		Weighted-Average Fair Value at Date of Grant
Unvested as of October 31, 2016	317,850		$	33.95
Granted	74,800		54.52
Vested	(107,198	)	30.10
Canceled/forfeited	(3,301	)	47.96
Unvested as of October 31, 2017	282,151		$	40.71

As of October 31, 2017, there was $5,108 of total unrecognized compensation expense related to unvested performance share awards. That cost is expected to be recognized over a weighted-average period of 1.67 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, 2017

Compensation and Retirement Disclosure [Abstract]

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 $17,932, $16,986, and $17,400 for the fiscal years ended October 31, 2017, 2016, and 2015, 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, 2017 and 2016 was $41,448 and $45,603, respectively, and the net liability amount recognized in the Consolidated Balance Sheets as of October 31, 2017 and 2016 was $4,558 and $4,243, respectively. The accumulated benefit obligation of these plans as of October 31, 2017 and 2016 was $41,448 and $45,603, respectively. The funded status of these plans as of October 31, 2017 and 2016 was $6,238 and $12,984, respectively. The fair value of the plan assets as of October 31, 2017 and 2016 was $35,211 and $32,619, respectively. The net expense recognized in the Consolidated Financial Statements for these plans was $1,477, $1,220, and $2,406 for the fiscal years ended October 31, 2017, 2016, and 2015, respectively.

Amounts recognized in accumulated other comprehensive loss consisted of:



Fiscal Years Ended October 31	Defined Benefit Pension Plans		Post-retirement Benefit Plan			Total
2017
Net actuarial loss (gain)	$	4,998	$	(2,986	)	$	2,012
Accumulated other comprehensive loss (income)	$	4,998	$	(2,986	)	$	2,012
2016
Net actuarial loss	$	5,496	$	554		$	6,050
Net prior service cost	309		—			309
Accumulated other comprehensive loss	$	5,805	$	554		$	6,359

The following amounts are included in accumulated other comprehensive loss as of October 31, 2017 and are expected to be recognized as components of net periodic benefit cost during fiscal 2018:



October 31, 2017	Defined Benefit Pension Plans		Post-retirement Benefit Plan			Total
Net actuarial loss (gain)	$	128	$	(377	)	$	(249	)
Total	$	128	$	(377	)	$	(249	)

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



Fiscal Years Ended October 31	Defined Benefit Pension Plans			Post-retirement Benefit Plan			Total
2017
Net actuarial gain	$	(280	)	$	(3,534	)	$	(3,814	)
Prior service cost	51			—			51
Amortization of unrecognized prior service credit	(360		)	—			(360		)
Amortization of unrecognized actuarial gain	(219		)	(5		)	(224		)
Total recognized in other comprehensive income	$	(808	)	$	(3,539	)	$	(4,347	)
Total recognized in net periodic benefit cost and other comprehensive loss (income)	$	22		$	(2,892	)	$	(2,870	)



Fiscal Years Ended October 31	Defined Benefit Pension Plans			Post-retirement Benefit Plan		Total
2016
Net actuarial loss	$	469		$	619	$	1,088
Prior service cost	—			—		—
Amortization of unrecognized prior service credit	(42		)	—		(42		)
Amortization of unrecognized actuarial gain	(73		)	—		(73		)
Total recognized in other comprehensive loss	$	354		$	619	$	973
Total recognized in net periodic benefit cost and other comprehensive loss	$	976		$	1,217	$	2,193

The company has omitted the remaining disclosures for its defined benefit plans and post-retirement 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, 2017

Segment Reporting [Abstract]

SEGMENT DATA

The company's businesses are organized, managed, and internally grouped into segments based on similarities in products and services. Segment selection is 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 wholly 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, UTVs, skid steers, and front-end loaders. Irrigation products consist of sprinkler heads, electric and hydraulic valves, controllers, computer irrigation central control systems, coupling 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 and ice, 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 online.

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 and liabilities.

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 the company's domestic wholly owned distribution company, 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 tables present summarized financial information concerning the company's reportable segments:



Fiscal Year Ended October 31, 2017	Professional		Residential		Other			Total
Net sales	$	1,811,705	$	673,247	$	20,224		$	2,505,176
Intersegment gross sales	27,893		332		(28,225		)	—
Earnings (loss) before income taxes	379,496		74,704		(101,016		)	353,184
Total assets	836,600		189,578		467,609			1,493,787
Capital expenditures	29,786		10,605		17,885			58,276
Depreciation and amortization	$	41,313	$	10,308	$	13,365		$	64,986



Fiscal Year Ended October 31, 2016	Professional		Residential		Other			Total
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		420,890			1,384,572
Capital expenditures	27,296		13,794		9,633			50,723
Depreciation and amortization	$	40,715	$	10,406	$	12,976		$	64,097



Fiscal Year Ended October 31, 2015	Professional		Residential		Other			Total
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		277,650			1,300,429
Capital expenditures	29,016		9,953		17,405			56,374
Depreciation and amortization	$	42,799	$	9,131	$	11,213		$	63,143

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



Fiscal Years Ended October 31	2017			2016			2015
Corporate expenses	$	(100,928	)	$	(95,288	)	$	(95,167	)
Interest expense	(19,113		)	(19,336		)	(18,757		)
Other income	19,025			19,333			11,989
Total operating loss	$	(101,016	)	$	(95,291	)	$	(101,935	)

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



Fiscal Years Ended October 31	2017		2016		2015
Equipment	$	2,060,354	$	2,001,150	$	2,004,274
Irrigation and lighting	444,822		391,025		386,601
Total net sales	$	2,505,176	$	2,392,175	$	2,390,875

Sales to one customer in the Residential segment accounted for 10 percent of total consolidated gross sales in fiscal 2017 and 11 percent of total consolidated gross sales in fiscal 2016 and 2015.

Geographic Data

The following geographic area data includes net sales based on product shipment destination and long-lived assets, which consist of net property, plant, and equipment, and is 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
2017
Net sales	$	1,893,249	$	611,927	$	2,505,176
Long-lived assets	$	194,338	$	40,892	$	235,230
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

- 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
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
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Reference 14: http://www.xbrl.org/2003/role/presentationRef
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+ Details

COMMITMENTS AND CONTINGENT LIABILITIES

12 Months Ended

Oct. 31, 2017

Commitments and Contingencies Disclosure [Abstract]

COMMITMENTS AND CONTINGENT LIABILITIES



13	COMMITMENTS AND CONTINGENT LIABILITIES

Leases

Total rental expense for operating leases was $27,865, $26,363 and $24,986 for the fiscal years ended October 31, 2017, 2016 and 2015, respectively. As of October 31, 2017, future minimum lease payments under noncancelable operating leases amounted to $94,091 as follows: 2018, $16,789; 2019, $14,881; 2020, $12,573; 2021, $11,504; 2022, $9,833; and after 2022, $28,511.

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 $32,124 of receivables from the company during fiscal 2017. As of October 31, 2017, $13,109 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, 2017, the company was contingently liable to repurchase up to a maximum amount of $10,712 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., Australia, 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, 2017 was $6,559.

Purchase Commitments

As of October 31, 2017, the company had $12,797 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 contract and related agreements for renovations at its corporate facilities located in Bloomington, Minnesota, for a maximum obligation, subject to certain exceptions, of $8,936. The amount of the remaining obligation as of October 31, 2017 was $7,806.

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, 2017 and 2016, the company had $10,220 and $8,984, 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 U.S. 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, 2017

Derivative Instruments and Hedging Activities Disclosure [Abstract]

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’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.

To reduce its exposure to foreign currency exchange rate risk, the company actively manages the exposure of its foreign currency exchange rate risk by entering into various derivative instruments to hedge against such risk, authorized under company policies that place controls on these hedging activities, with counterparties that are highly rated financial institutions. The company’s policy does not allow the use of derivative instruments 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 hedging activities primarily involve the use of forward currency contracts to hedge most foreign currency transactions, including forecasted sales and purchases denominated in foreign currencies. The company may also utilize forward currency contracts or cross currency swaps 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 fluctuations. Decisions on whether to use such derivative instruments 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 recognizes all derivative instruments at fair value on the Consolidated Balance Sheets as either assets or liabilities. The accounting for changes in the fair value of a derivative instrument depends on whether it has been designated and qualifies as a cash flow hedging instrument.

Cash Flow Hedging Instruments

The company formally documents relationships between cash flow hedging instruments and the related hedged transactions, as well as its risk-management objective and strategy for undertaking cash flow hedging instruments. This process includes linking all cash flow hedging instruments 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 hedging instruments, except the ineffective portion, are recorded in other comprehensive income within AOCL on the Consolidated Balance Sheets, until net earnings is affected by the variability of the cash flows of the hedged transaction. Gains and losses on the cash flow hedging instrument representing either hedge ineffectiveness or hedge components excluded from the assessment of effectiveness are recognized in net earnings. The Consolidated Statements of Earnings classification of effective cash flow hedge results is the same as that of the underlying exposure. Results of cash flow 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 cash flow 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 the cash flow hedge’s inception, and on an ongoing basis, whether the cash flow hedging instruments have been highly effective in offsetting changes in the cash flows of the hedged transactions and whether those cash flow hedging instruments 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 cash flow hedge, the company discontinues cash flow hedge accounting prospectively. When the company discontinues cash flow 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 immediately recognized in net earnings. In all situations in which cash flow 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.

As of October 31, 2017, the notional amount of outstanding forward contracts designated as cash flow hedging instruments was $102,733. 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, net.

Derivatives Not Designated as Cash Flow Hedging Instruments

The company also enters into foreign currency contracts that include forward currency contracts to mitigate the remeasurement of specific assets and liabilities on the Consolidated Balance Sheets. These contracts are not designated as cash flow 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 derivative instruments and Consolidated Balance Sheets location:



Fair Value as of October 31	2017		2016
Derivative assets:
Derivatives designated as cash flow hedging instruments
Prepaid expenses and other current assets
Forward currency contracts	$	1,014	$	1,535
Derivatives not designated as cash flow hedging instruments
Prepaid expenses and other current assets
Forward currency contracts	27		432
Total assets	$	1,041	$	1,967
Derivative liabilities:
Derivatives designated as cash flow hedging instruments
Accrued liabilities
Forward currency contracts	$	1,563	$	973
Derivatives not designated as cash flow hedging instruments
Accrued liabilities
Forward currency contracts	703		792
Total liabilities	$	2,266	$	1,765

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 instruments 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 instruments that are recorded in the Consolidated Balance Sheets:



Fair Value as of October 31	2017			2016
Derivative assets:
Forward currency contracts
Gross amounts of recognized assets	$	1,055		$	2,264
Gross liabilities offset in the Consolidated Balance Sheets	(14		)	(297		)
Net amounts of assets presented in the Consolidated Balance Sheets	$	1,041		$	1,967
Derivative liabilities:
Forward currency contracts
Gross amounts of recognized liabilities	$	(2,266	)	$	(1,765	)
Gross assets offset in the Consolidated Balance Sheets	—			—
Net amounts of liabilities presented in the Consolidated Balance Sheets	$	(2,266	)	$	(1,765	)

The following table presents the impact and location of the amounts reclassified from AOCL into earnings on the Consolidated Statements of Earnings and the impact of derivative instruments on the Consolidated Statements of Comprehensive Income for the effective portion of the company's derivatives designated as cash flow hedging instruments for the fiscal years ended October 31, 2017 and 2016:



	Gain (Loss) Reclassified from AOCL into Income						Gain (Loss) Recognized in OCI on Derivatives
Fiscal Years Ended October 31	2017			2016			2017			2016
Forward currency contracts
Net sales	$	1,547		$	2,094		$	(2,007	)	$	(961	)
Cost of sales	(1,156		)	(2,598		)	1,849			181
Cross currency contracts
Other income, net	—			(94		)	—			255
Total derivatives designated as cash flow hedging instruments	$	391		$	(598	)	$	(158	)	$	(525	)

As of October 31, 2017, the company expects to reclassify approximately $1,017 of losses from AOCL to earnings during the next twelve months.

The following table presents the impact and location of derivative instruments on the Consolidated Statements of Earnings for the ineffective portion and components excluded from effectiveness testing for the company's derivatives designated as cash flow hedging instruments for the fiscal years ended October 31, 2017 and 2016:



	Gain (Loss) Recognized in Income on Derivatives
Fiscal Years Ended October 31	2017		2016
Forward currency contracts
Other income, net	$	231	$	608
Total ineffective portion and components excluded from effectiveness testing	$	231	$	608

The ineffective portion of forward currency contracts reclassified into earnings as a result of the discontinuance of cash flow hedge accounting was not material for the fiscal years ended October 31, 2017 and 2016.

The following table presents the impact of derivative instruments on the Consolidated Statements of Earnings for the company's derivatives not designated as cash flow hedging instruments for the fiscal years ended October 31, 2017 and 2016:



	Gain (Loss) Recognized in Income on Derivatives
Fiscal Years Ended October 31	2017			2016
Forward currency contracts
Other income, net	$	(4,251	)	$	(4	)
Cross currency contracts
Other income, net	—			(191		)
Total derivatives not designated as cash flow hedging instruments	$	(4,251	)	$	(195	)

FAIR VALUE

12 Months Ended

Oct. 31, 2017

Fair Value Disclosures [Abstract]

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 flows), 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.

There were no transfers between levels during the fiscal years ended October 31, 2017 and 2016.

Recurring Fair Value Measurements

Forward currency contracts are valued based on observable market transactions of forward currency prices and spot currency rates as of the reporting date. The unfunded deferred compensation liability is primarily subject to changes in fixed-income investment contracts based on current yields.

The following tables present, by level within the fair value hierarchy, the company's financial assets and liabilities that are measured at fair value on a recurring basis as of October 31, 2017 and 2016, according to the valuation technique utilized to determine their fair values:



			Fair Value Measurements Using Inputs Considered as:
October 31, 2017	Fair Value		Level 1		Level 2		Level 3
Assets:
Forward currency contracts	$	1,041	$	—	$	1,041	$	—
Total assets	$	1,041	$	—	$	1,041	$	—
Liabilities:
Forward currency contracts	$	2,266	$	—	$	2,266	$	—
Deferred compensation liabilities	630		—		630		—
Total liabilities	$	2,896	$	—	$	2,896	$	—



			Fair Value Measurements Using Inputs Considered as:
October 31, 2016	Fair Value		Level 1		Level 2		Level 3
Assets:
Forward currency contracts	$	1,967	$	—	$	1,967	$	—
Total assets	$	1,967	$	—	$	1,967	$	—
Liabilities:
Forward currency contracts	$	1,765	$	—	$	1,765	$	—
Deferred compensation liabilities	1,149		—		1,149		—
Total liabilities	$	2,914	$	—	$	2,914	$	—

Nonrecurring Fair Value Measurements

The company measures certain assets and liabilities at fair value on a non-recurring basis. Assets and liabilities that are measured at fair value on a nonrecurring basis include long-lived assets, goodwill and indefinite-lived intangible assets, which are generally recorded at fair value as a result of an impairment charge. Assets acquired and liabilities assumed as part of acquisitions are measured at fair value.

Other Fair Value Disclosures

The carrying values of the company's short-term financial instruments, including cash and cash equivalents, accounts receivable, accounts payable, and short-term debt, including current maturities of long-term debt, approximate their fair values due to their short-term nature.

The fair value of long-term debt is determined using Level 2 inputs by discounting the projected cash flows based on quoted market rates at which similar amounts of debt could currently be borrowed. As of October 31, 2017, the estimated fair value of long-term debt with fixed interest rates was $282,412 compared to its carrying amount of $231,137. 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 $240,461.

- 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

SUBSEQUENT EVENTS	12 Months Ended
SUBSEQUENT EVENTS	Oct. 31, 2017
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	Tax Reform On December 22, 2017, "An Act to provide for reconciliation pursuant to titles II and V of the concurrent resolution on the budget for fiscal year 2018," ("The Act"), was signed into law by President Trump and is expected to impact the company’s operating results, cash flows, and financial condition. The company is currently evaluating the potential impacts of The Act. The Act includes a number of provisions, including the lowering of the U.S. corporate tax rate from 35 percent to 21 percent, effective January 1, 2018. The Act also includes provisions that may partially offset the benefit of such rate reduction, including the repeal of the deduction for domestic production activities. The effect of the international provisions of The Act, which generally establish a territorial-style system for taxing foreign-source income of domestic multinational corporations, is uncertain. As a result of The Act, the company expects there will be one-time adjustments for the re-measurement of deferred tax assets (liabilities) and the deemed repatriation tax on unremitted foreign earnings and profits. Quantifying the impacts of The Act is not practicable at this time due, among other things, to the inherent complexities involved. Accordingly, the company expects to continue to analyze such impacts and record any such amounts in the first quarter of fiscal 2018. The company has evaluated all subsequent events and concluded that no additional subsequent events have occurred that would require recognition in the Consolidated Financial Statements or disclosure in the Notes to the Consolidated Financial Statements.

QUARTERLY FINANCIAL DATA (unaudited)

12 Months Ended

Oct. 31, 2017

Quarterly Financial Information Disclosure [Abstract]

QUARTERLY FINANCIAL DATA (unaudited)

Summarized quarterly financial data for fiscal 2017 and 2016 are as follows:



	Quarter
Fiscal Years Ended October 31, 2017	First		Second		Third		Fourth
Net sales	$	515,839	$	872,767	$	627,943	$	488,627
Gross profit	193,480		316,314		226,785		184,258
Net earnings	44,990		120,475		68,404		33,848
Basic net earnings per share¹	0.41		1.11		0.63		0.31
Diluted net earnings per share¹	$	0.41	$	1.08	$	0.61	$	0.31



	Quarter
Fiscal Years Ended October 31, 2016	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	0.36		0.96		0.51		0.28
Diluted net earnings per share¹	$	0.35	$	0.94	$	0.50	$	0.27


¹	Net earnings per share amounts may not equal the full year total due to changes in the number of shares outstanding during the periods and rounding.

SCHEDULE II: Valuation and Qualifying Accounts

12 Months Ended

Oct. 31, 2017

Valuation and Qualifying Accounts [Abstract]

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, 2017
Allowance for doubtful accounts and notes receivable reserves	$	1,609	$	934	$	396	$	2,147
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


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, 2017
Accrued advertising and marketing programs	$	81,315	$	377,989	$	373,370	$	85,934
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

Provision consists of off-invoice discounts, rebate programs, incentive discounts, financing programs, various commissions, and cooperative advertising. The expense of each program is classified either as a reduction from gross sales or as a component of selling, general, and administrative expense as explained in more detail in the section entitled "Sales Promotions and Incentives" included in Part II, Item 7, "Management's Discussion and Analysis of Financial Condition and Results of Operations" of this report and in Note 1 of the Notes to Consolidated Financial Statements, in the section entitled "Sales Promotions and Incentives" included in Part II, Item 8, "Financial Statements and Supplementary Data" of this report.


²	Claims paid.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND RELATED DATA (Policies)

12 Months Ended

Oct. 31, 2017

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Basis of Presentation and Consolidation

Stock Split

Accounting Estimates

Cash and Cash Equivalents

Receivables

Allowance for Doubtful Accounts

Inventory Valuations

Inventories were as follows:



October 31	2017		2016
Raw materials and work in process	$	100,077	$	90,463
Finished goods and service parts	295,716		274,929
Total FIFO value	395,793		365,392
Less: adjustment to LIFO value	66,801		58,358
Total inventories, net	$	328,992	$	307,034

Property and Depreciation

Property, plant and equipment was as follows:



October 31	2017		2016
Land and land improvements	$	38,060	$	34,744
Buildings and leasehold improvements	194,995		182,121
Machinery and equipment	349,976		325,595
Tooling	197,299		200,842
Computer hardware and software	88,152		85,173
Construction in process	17,132		9,561
Property, plant and equipment	885,614		838,036
Less: accumulated depreciation	650,384		615,998
Property, plant and equipment, net	$	235,230	$	222,038

During fiscal years 2017, 2016, and 2015, the company recorded depreciation expense of $54,679, $53,355, and $50,322, respectively.

Goodwill and Indefinite-Life Intangible Assets

Goodwill and Indefinite-Lived Intangible Assets

Other Long-Lived Assets

Accounts Payable

Insurance

Accrued Warranties

The changes in accrued warranties were as follows:



Fiscal Years Ended October 31	2017			2016
Beginning balance	$	72,158		$	70,734
Warranty provisions	46,150			44,260
Warranty claims	(40,940		)	(41,102		)
Changes in estimates	(3,213		)	(1,734		)
Ending balance	$	74,155		$	72,158

Derivatives

Foreign Currency Translation and Transactions

Income Taxes

Revenue Recognition

Sales Promotions and Incentives

Examples of significant sales promotions and incentive programs in which the related expense is classified as a reduction from gross sales are as follows:


•	Off-Invoice Discounts: The company's costs for off-invoice discounts represent a reduction in the selling price of its products given at the time of sale.


•	Rebate Programs: The company's rebate programs are generally based on claims submitted from either its direct customers or end-users of its products, depending upon the program. The amount of the rebate varies based on the specific program and is either a dollar amount or a percentage of the purchase price and can also be based on actual retail price as compared to the company's selling price.


•	Incentive Discounts: The company's costs for incentive discount programs are based on its customers’ purchases of certain quantities or mixes of product during a specified time period which are tracked on an annual basis.

•


•	Commissions Paid to Home Center Customers: The company pays commissions to home center customers as an off-invoice discount. These commissions do not represent any selling effort by the home center customer but rather is a discount from the selling price of the product.

Examples of significant sales promotions and incentive programs in which the related expense is classified as a component of selling, general, and administrative expense are as follows:

•

Cost of Sales

Selling, General, and Administrative Expense

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)	2017	2016	2015¹
Basic
Weighted-average number of shares of common stock	108,299	109,816	111,107
Assumed issuance of contingent shares	13	18	23
Weighted-average number of shares of common stock and assumed issuance of contingent shares	108,312	109,834	111,130

Diluted
Weighted-average number of shares of common stock and assumed issuance of contingent shares	108,312	109,834	111,130
Effect of dilutive securities	2,940	2,153	2,384
Weighted-average number of shares of common stock, assumed issuance of contingent shares, and effect of dilutive securities	111,252	111,987	113,514


¹	Share data has been adjusted for prior periods presented to reflect a two-for-one stock split effective September 16, 2016.

Cash Flow Presentation

New Accounting Pronouncements Adopted

In April 2015, the FASB issued ASU No. 2015-05, Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement.

The impact of the early adoption resulted in the following:

•


•	The company elected not to change its policy on accounting for forfeitures and will continue to estimate a requisite forfeiture rate.


•	The company has elected to change its policy on tax withholding requirements and will allow participants to withhold up to the maximum statutory rate prospectively on new awards. As of November 1, 2016, the company did not have any outstanding liabilities on awards which would require a cumulative-effect adjustment to retained earnings.

•

In October 2016, the FASB issued ASU No. 2016-16, Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND RELATED DATA (Tables)

12 Months Ended

Oct. 31, 2017

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Inventories

Inventories were as follows:



October 31	2017		2016
Raw materials and work in process	$	100,077	$	90,463
Finished goods and service parts	295,716		274,929
Total FIFO value	395,793		365,392
Less: adjustment to LIFO value	66,801		58,358
Total inventories, net	$	328,992	$	307,034

Schedule of property, plant and equipment

Property, plant and equipment was as follows:



October 31	2017		2016
Land and land improvements	$	38,060	$	34,744
Buildings and leasehold improvements	194,995		182,121
Machinery and equipment	349,976		325,595
Tooling	197,299		200,842
Computer hardware and software	88,152		85,173
Construction in process	17,132		9,561
Property, plant and equipment	885,614		838,036
Less: accumulated depreciation	650,384		615,998
Property, plant and equipment, net	$	235,230	$	222,038

Schedule of changes in accrued warranties

The changes in accrued warranties were as follows:



Fiscal Years Ended October 31	2017			2016
Beginning balance	$	72,158		$	70,734
Warranty provisions	46,150			44,260
Warranty claims	(40,940		)	(41,102		)
Changes in estimates	(3,213		)	(1,734		)
Ending balance	$	74,155		$	72,158

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

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



(Shares in thousands)	2017	2016	2015¹
Basic
Weighted-average number of shares of common stock	108,299	109,816	111,107
Assumed issuance of contingent shares	13	18	23
Weighted-average number of shares of common stock and assumed issuance of contingent shares	108,312	109,834	111,130

Diluted
Weighted-average number of shares of common stock and assumed issuance of contingent shares	108,312	109,834	111,130
Effect of dilutive securities	2,940	2,153	2,384
Weighted-average number of shares of common stock, assumed issuance of contingent shares, and effect of dilutive securities	111,252	111,987	113,514


¹	Share data has been adjusted for prior periods presented to reflect a two-for-one stock split effective September 16, 2016.

INVESTMENT IN JOINT VENTURE (Tables)

12 Months Ended

Oct. 31, 2017

Equity Method Investments and Joint Ventures [Abstract]

Schedule of summarized financial information

Summarized financial information for Red Iron is presented as follows:



For the Twelve Months Ended October 31	2017			2016			2015
Revenues	$	35,158		$	31,812		$	27,483
Interest and operating expenses, net	(13,030		)	(10,506		)	(8,885		)
Net income	$	22,128		$	21,306		$	18,598



As of October 31	2017		2016
Finance receivables, net	$	407,533	$	370,169
Other assets	2,888		4,416
Total assets	$	410,421	$	374,585

Notes payable	$	347,968	$	321,378
Other liabilities	16,617		11,607
Partners' capital	45,836		41,600
Total liabilities and partners' capital	$	410,421	$	374,585

OTHER INCOME, NET (Tables)

12 Months Ended

Oct. 31, 2017

Other Income and Expenses [Abstract]

Schedule of other income (expense)

Other income (expense) is as follows:



Fiscal Years Ended October 31	2017			2016		2015
Interest income	$	1,359		$	827	$	494
Retail financing revenue	1,097			1,087		1,086
Foreign currency exchange rate gain (loss)	1,543			974		(324		)
Gain on sale of business	—			340		—
Non-cash income from finance affiliate	9,960			9,588		8,353
Litigation recovery (settlements), net	(65		)	1,300		125
Miscellaneous	3,293			1,284		940
Total other income, net	$	17,187		$	15,400	$	10,674

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)

12 Months Ended

Oct. 31, 2017

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of changes in net carrying amount of goodwill

The changes in the carrying amount of goodwill for fiscal 2017 and 2016 were as follows:



	Professional Segment			Residential Segment			Total
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
Goodwill acquired	8,921			—			8,921
Translation adjustments	1,205			121			1,326
Balance as of October 31, 2017	$	194,464		$	10,565		$	205,029

Schedule of components of other intangible assets

The components of other intangible assets were as follows:



October 31, 2017	Gross Carrying Amount		Accumulated Amortization			Net
Patents	$	15,162	$	(11,599	)	$	3,563
Non-compete agreements	6,896		(6,775		)	121
Customer-related	87,461		(18,940		)	68,521
Developed technology	30,212		(26,939		)	3,273
Trade names	2,330		(1,637		)	693
Other	800		(800		)	—
Total amortizable	142,861		(66,690		)	76,171
Non-amortizable - trade names	27,572		—			27,572
Total other intangible assets, net	$	170,433	$	(66,690	)	$	103,743



October 31, 2016	Gross Carrying Amount		Accumulated Amortization			Net
Patents	$	15,151	$	(10,866	)	$	4,285
Non-compete agreements	6,886		(6,681		)	205
Customer-related	84,353		(14,434		)	69,919
Developed technology	28,648		(23,712		)	4,936
Trade names	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

LONG-TERM DEBT (Tables)

12 Months Ended

Oct. 31, 2017

Debt Disclosure [Abstract]

Schedule of long-term debt

A summary of long-term debt is as follows:



October 31	2017			2016
Term loan, due October 25, 2019	$	100,750		$	110,500
7.800% Debentures, due June 15, 2027	100,000			100,000
6.625% Senior Notes, due May 1, 2037	123,792			123,730
4% Unsecured Note, due November 14, 2017	10,008			19,677
Less: unamortized discounts, debt issuance costs and deferred charges	(2,663		)	(2,946		)
Total long-term debt	331,887			350,961
Less: current portion of long-term debt	26,258			22,484
Long-term debt, less current portion	$	305,629		$	328,477

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

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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-Section 50
-Paragraph 3
-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
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=64930739&loc=d3e28878-108400

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-Name Accounting Standards Codification
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-Paragraph 8
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Reference 7: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 505
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-Paragraph 6
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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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-URI http://asc.fasb.org/extlink&oid=64930785&loc=d3e28541-108399

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
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-Paragraph 2
-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, 2017

Stockholders' Equity Note [Abstract]

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

Components of accumulated other comprehensive loss ("AOCL"), net of tax, within the Consolidated Statements of Stockholders' Equity are as follows:



As of October 31	2017		2016		2015
Foreign currency translation adjustments	$	21,303	$	31,430	$	24,328
Pension and post-retirement benefits	2,012		6,359		5,386
Derivative instruments	805		647		129
Total accumulated other comprehensive loss	$	24,120	$	38,436	$	29,843

Schedule of components and activity of accumulated other comprehensive loss

The components and activity of AOCL are as follows:



	Foreign Currency Translation Adjustments			Pension and Post-Retirement Benefits			Cash Flow Derivative Instruments			Total
Balance as of October 31, 2016	$	31,430		$	6,359		$	647		$	38,436
Other comprehensive income before reclassifications	(10,127		)	(4,347		)	(233		)	(14,707		)
Amounts reclassified from AOCL	—			—			391			391
Net current period other comprehensive (income) loss	(10,127		)	(4,347		)	158			(14,316		)
Balance as of October 31, 2017	$	21,303		$	2,012		$	805		$	24,120



	Foreign Currency Translation Adjustments		Pension and Post-Retirement Benefits		Cash Flow Derivative Instruments			Total
Balance as of October 31, 2015	$	24,328	$	5,386	$	129		$	29,843
Other comprehensive loss before reclassifications	7,102		973		1,116			9,191
Amounts reclassified from AOCL	—		—		(598		)	(598		)
Net current period other comprehensive loss	7,102		973		518			8,593
Balance as of October 31, 2016	$	31,430	$	6,359	$	647		$	38,436

INCOME TAXES (Tables)

12 Months Ended

Oct. 31, 2017

Income Tax Disclosure [Abstract]

Schedule of earnings before income taxes

Earnings before income taxes were as follows:



Fiscal Years Ended October 31	2017		2016		2015
Earnings before income taxes:
U.S.	$	307,136	$	292,184	$	254,276
Foreign	46,048		38,276		36,755
Total earnings before income taxes	$	353,184	$	330,460	$	291,031

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

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	2017		2016		2015
Statutory federal income tax rate	35.0	%	35.0	%	35.0	%
Excess deduction for stock compensation	(5.3	)	—		—
Domestic manufacturer's deduction	(1.2	)	(0.8	)	(1.7	)
State and local income taxes, net of federal benefit	0.5		1.5		2.2
Foreign taxes	(2.3	)	(1.8	)	(3.1	)
Federal research tax credit	(1.5	)	(1.5	)	(0.9	)
Other, net	(1.0	)	(2.3	)	(0.8	)
Consolidated effective tax rate	24.2	%	30.1	%	30.7	%

Schedule of components of the provision for income taxes

Components of the provision for income taxes were as follows:



Fiscal Years Ended October 31	2017			2016		2015
Current provision:
Federal	$	83,091		$	77,685	$	75,496
State	3,036			6,929		9,389
Foreign	8,166			6,295		6,219
Total current provision	$	94,293		$	90,909	$	91,104
Deferred provision (benefit):
Federal	$	(8,774	)	$	7,283	$	430
State	(101		)	297		—
Foreign	49			977		(2,094		)
Total deferred provision (benefit)	(8,826		)	8,557		(1,664		)
Total provision for income taxes	$	85,467		$	99,466	$	89,440

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

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



October 31	2017			2016
Deferred income tax assets:
Compensation and benefits	$	38,753		$	37,200
Warranty and insurance	23,993			17,443
Advertising and sales allowance	10,428			11,185
Other	12,234			10,327
Valuation allowance	(1,951		)	(1,867		)
Total deferred income tax assets	$	83,457		$	74,288
Deferred income tax liabilities:
Depreciation	$	(13,259	)	$	(13,578	)
Amortization	(7,841		)	(3,482		)
Total deferred income tax liabilities	(21,100		)	(17,060		)
Deferred income tax assets, net	$	62,357		$	57,228

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

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



Unrecognized tax benefits as of October 31, 2016	$	5,175
Increase as a result of tax positions taken during a prior period	432
Increase as a result of tax positions taken during the current period	948
Decrease relating to settlements with taxing authorities	(2,673		)
Reductions as a result of statute of limitations lapses	(769		)
Unrecognized tax benefits as of October 31, 2017	$	3,113

STOCK-BASED COMPENSATION PLANS (Tables)

12 Months Ended

Oct. 31, 2017

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of compensation costs related to stock-based awards

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



Fiscal Years Ended October 31	2017		2016		2015
Stock option awards	$	5,496	$	4,606	$	4,704
Restricted stock and restricted stock units	2,300		1,891		1,756
Performance share awards	5,183		3,676		3,964
Unrestricted common stock awards	538		464		412
Total compensation cost for stock-based awards	$	13,517	$	10,637	$	10,836
Related tax benefit from stock-based awards	$	5,001	$	3,936	$	4,009

Schedule of stock options activity

The table below presents stock option activity for fiscal 2017:



	Stock Option Awards		Weighted-Average Exercise Price		Weighted-Average Contractual Life (years)	Aggregate Intrinsic Value
Outstanding as of October 31, 2016	4,879,984		$	20.07	5.3	$	135,697
Granted	554,364		55.82
Exercised	(954,909	)	11.48
Canceled/forfeited	(19,744	)	51.74
Outstanding as of October 31, 2017	4,459,695		$	26.22	5.3	$	163,369
Exercisable as of October 31, 2017	3,331,979		$	19.64	4.3	$	143,960

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

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	2017		2016		2015
Market value of stock options exercised	$	58,976	$	61,468	$	27,860
Intrinsic value of options exercised¹	$	48,017	$	41,365	$	18,739


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

The table below illustrates the weighted-average valuation assumptions for options granted in the following fiscal periods:



Fiscal Years Ended October 31	2017			2016			2015
Expected life of option in years	6.02			5.97			5.94
Expected stock price volatility	22.15		%	24.04		%	29.66		%
Risk-free interest rate	2.03		%	1.80		%	1.61		%
Expected dividend yield	1.01		%	1.24		%	1.29		%
Weighted-average fair value at date of grant	$	12.55		$	8.79		$	8.41

Schedule of restricted stock and restricted stock unit awards granted

Factors related to the company's restricted stock and restricted stock units are as follows:



Fiscal Years Ended October 31	2017		2016		2015
Weighted-average fair value at date of grant	$	66.09	$	41.83	$	33.88
Fair value of restricted stock and restricted stock units vested	$	3,604	$	2,681	$	2,744

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

The table below summarizes the activity during fiscal 2017 for unvested restricted stock units:



	Restricted Stock Units		Weighted-Average Fair Value at Date of Grant
Unvested as of October 31, 2016	139,480		$	34.51
Granted	43,167		66.09
Vested	(53,709	)	33.14
Forfeited	(4,666	)	37.38
Unvested as of October 31, 2017	124,272		$	45.66

Schedule of performance share awards granted

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



Fiscal Years Ended October 31	2017		2016		2015
Weighted-average fair value at date of grant	$	54.52	$	38.89	$	32.84
Fair value of performance share awards vested	$	7,018	$	7,454	$	7,989

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

The table below summarizes the activity during fiscal 2017 for unvested performance share awards:



	Performance Shares		Weighted-Average Fair Value at Date of Grant
Unvested as of October 31, 2016	317,850		$	33.95
Granted	74,800		54.52
Vested	(107,198	)	30.10
Canceled/forfeited	(3,301	)	47.96
Unvested as of October 31, 2017	282,151		$	40.71

EMPLOYEE RETIREMENT PLANS (Tables)

12 Months Ended

Oct. 31, 2017

Compensation and Retirement Disclosure [Abstract]

Schedule of amounts recognized in accumulated other comprehensive loss

Amounts recognized in accumulated other comprehensive loss consisted of:



Fiscal Years Ended October 31	Defined Benefit Pension Plans		Post-retirement Benefit Plan			Total
2017
Net actuarial loss (gain)	$	4,998	$	(2,986	)	$	2,012
Accumulated other comprehensive loss (income)	$	4,998	$	(2,986	)	$	2,012
2016
Net actuarial loss	$	5,496	$	554		$	6,050
Net prior service cost	309		—			309
Accumulated other comprehensive loss	$	5,805	$	554		$	6,359

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

The following amounts are included in accumulated other comprehensive loss as of October 31, 2017 and are expected to be recognized as components of net periodic benefit cost during fiscal 2018:



October 31, 2017	Defined Benefit Pension Plans		Post-retirement Benefit Plan			Total
Net actuarial loss (gain)	$	128	$	(377	)	$	(249	)
Total	$	128	$	(377	)	$	(249	)

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

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



Fiscal Years Ended October 31	Defined Benefit Pension Plans			Post-retirement Benefit Plan			Total
2017
Net actuarial gain	$	(280	)	$	(3,534	)	$	(3,814	)
Prior service cost	51			—			51
Amortization of unrecognized prior service credit	(360		)	—			(360		)
Amortization of unrecognized actuarial gain	(219		)	(5		)	(224		)
Total recognized in other comprehensive income	$	(808	)	$	(3,539	)	$	(4,347	)
Total recognized in net periodic benefit cost and other comprehensive loss (income)	$	22		$	(2,892	)	$	(2,870	)

SEGMENT DATA (Tables)

12 Months Ended

Oct. 31, 2017

Segment Reporting [Abstract]

Summarized financial information concerning the company's reportable segments

The following tables present summarized financial information concerning the company's reportable segments:



Fiscal Year Ended October 31, 2017	Professional		Residential		Other			Total
Net sales	$	1,811,705	$	673,247	$	20,224		$	2,505,176
Intersegment gross sales	27,893		332		(28,225		)	—
Earnings (loss) before income taxes	379,496		74,704		(101,016		)	353,184
Total assets	836,600		189,578		467,609			1,493,787
Capital expenditures	29,786		10,605		17,885			58,276
Depreciation and amortization	$	41,313	$	10,308	$	13,365		$	64,986



Fiscal Year Ended October 31, 2016	Professional		Residential		Other			Total
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		420,890			1,384,572
Capital expenditures	27,296		13,794		9,633			50,723
Depreciation and amortization	$	40,715	$	10,406	$	12,976		$	64,097



Fiscal Year Ended October 31, 2015	Professional		Residential		Other			Total
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		277,650			1,300,429
Capital expenditures	29,016		9,953		17,405			56,374
Depreciation and amortization	$	42,799	$	9,131	$	11,213		$	63,143

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

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



Fiscal Years Ended October 31	2017			2016			2015
Corporate expenses	$	(100,928	)	$	(95,288	)	$	(95,167	)
Interest expense	(19,113		)	(19,336		)	(18,757		)
Other income	19,025			19,333			11,989
Total operating loss	$	(101,016	)	$	(95,291	)	$	(101,935	)

Schedule of net sales for groups of similar products and services

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



Fiscal Years Ended October 31	2017		2016		2015
Equipment	$	2,060,354	$	2,001,150	$	2,004,274
Irrigation and lighting	444,822		391,025		386,601
Total net sales	$	2,505,176	$	2,392,175	$	2,390,875

Schedule of geographic area data



Fiscal Years Ended October 31	United States		Foreign Countries		Total
2017
Net sales	$	1,893,249	$	611,927	$	2,505,176
Long-lived assets	$	194,338	$	40,892	$	235,230
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

FINANCIAL INSTRUMENTS (Tables)

12 Months Ended

Oct. 31, 2017

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of fair value of derivatives and consolidated balance sheet location

The following table presents the fair value of the company’s derivative instruments and Consolidated Balance Sheets location:



Fair Value as of October 31	2017		2016
Derivative assets:
Derivatives designated as cash flow hedging instruments
Prepaid expenses and other current assets
Forward currency contracts	$	1,014	$	1,535
Derivatives not designated as cash flow hedging instruments
Prepaid expenses and other current assets
Forward currency contracts	27		432
Total assets	$	1,041	$	1,967
Derivative liabilities:
Derivatives designated as cash flow hedging instruments
Accrued liabilities
Forward currency contracts	$	1,563	$	973
Derivatives not designated as cash flow hedging instruments
Accrued liabilities
Forward currency contracts	703		792
Total liabilities	$	2,266	$	1,765

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



	Gain (Loss) Recognized in Income on Derivatives
Fiscal Years Ended October 31	2017			2016
Forward currency contracts
Other income, net	$	(4,251	)	$	(4	)
Cross currency contracts
Other income, net	—			(191		)
Total derivatives not designated as cash flow hedging instruments	$	(4,251	)	$	(195	)

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

The following tables show the effects of the master netting arrangements on the fair value of the company's derivative instruments that are recorded in the Consolidated Balance Sheets:



Fair Value as of October 31	2017			2016
Derivative assets:
Forward currency contracts
Gross amounts of recognized assets	$	1,055		$	2,264
Gross liabilities offset in the Consolidated Balance Sheets	(14		)	(297		)
Net amounts of assets presented in the Consolidated Balance Sheets	$	1,041		$	1,967
Derivative liabilities:
Forward currency contracts
Gross amounts of recognized liabilities	$	(2,266	)	$	(1,765	)
Gross assets offset in the Consolidated Balance Sheets	—			—
Net amounts of liabilities presented in the Consolidated Balance Sheets	$	(2,266	)	$	(1,765	)

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



	Gain (Loss) Recognized in Income on Derivatives
Fiscal Years Ended October 31	2017		2016
Forward currency contracts
Other income, net	$	231	$	608
Total ineffective portion and components excluded from effectiveness testing	$	231	$	608



	Gain (Loss) Reclassified from AOCL into Income						Gain (Loss) Recognized in OCI on Derivatives
Fiscal Years Ended October 31	2017			2016			2017			2016
Forward currency contracts
Net sales	$	1,547		$	2,094		$	(2,007	)	$	(961	)
Cost of sales	(1,156		)	(2,598		)	1,849			181
Cross currency contracts
Other income, net	—			(94		)	—			255
Total derivatives designated as cash flow hedging instruments	$	391		$	(598	)	$	(158	)	$	(525	)

FAIR VALUE (Tables)

12 Months Ended

Oct. 31, 2017

Fair Value Disclosures [Abstract]

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



			Fair Value Measurements Using Inputs Considered as:
October 31, 2017	Fair Value		Level 1		Level 2		Level 3
Assets:
Forward currency contracts	$	1,041	$	—	$	1,041	$	—
Total assets	$	1,041	$	—	$	1,041	$	—
Liabilities:
Forward currency contracts	$	2,266	$	—	$	2,266	$	—
Deferred compensation liabilities	630		—		630		—
Total liabilities	$	2,896	$	—	$	2,896	$	—



			Fair Value Measurements Using Inputs Considered as:
October 31, 2016	Fair Value		Level 1		Level 2		Level 3
Assets:
Forward currency contracts	$	1,967	$	—	$	1,967	$	—
Total assets	$	1,967	$	—	$	1,967	$	—
Liabilities:
Forward currency contracts	$	1,765	$	—	$	1,765	$	—
Deferred compensation liabilities	1,149		—		1,149		—
Total liabilities	$	2,914	$	—	$	2,914	$	—

QUARTERLY FINANCIAL DATA (unaudited) (Tables)

12 Months Ended

Oct. 31, 2017

Quarterly Financial Information Disclosure [Abstract]

Summary of quarterly financial data

Summarized quarterly financial data for fiscal 2017 and 2016 are as follows:



	Quarter
Fiscal Years Ended October 31, 2017	First		Second		Third		Fourth
Net sales	$	515,839	$	872,767	$	627,943	$	488,627
Gross profit	193,480		316,314		226,785		184,258
Net earnings	44,990		120,475		68,404		33,848
Basic net earnings per share¹	0.41		1.11		0.63		0.31
Diluted net earnings per share¹	$	0.41	$	1.08	$	0.61	$	0.31



	Quarter
Fiscal Years Ended October 31, 2016	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	0.36		0.96		0.51		0.28
Diluted net earnings per share¹	$	0.35	$	0.94	$	0.50	$	0.27


¹	Net earnings per share amounts may not equal the full year total due to changes in the number of shares outstanding during the periods and rounding.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND RELATED DATA - Stock Split (Details)	Sep. 16, 2016
Stock Split
Stock split, conversion ratio	2
Common Stock
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 (Details) $ in Thousands	Oct. 31, 2017 USD ($)
Cash and Cash Equivalents
Restricted cash and short-term investments	$ 133,488

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND RELATED DATA - Inventory Valuations (Details) - USD ($) $ in Thousands	12 Months Ended
	Oct. 31, 2016	Oct. 31, 2017
Inventory Disclosure [Abstract]
Percentage of total inventory valued under FIFO method	33.00%	31.00%
Effect of LIFO inventory layers reduction on cost of sales	$ 60
Inventory, Net [Abstract]
Raw materials and work in process	90,463	$ 100,077
Finished goods and service parts	58,358	66,801
Total FIFO value	365,392	395,793
Less: adjustment to LIFO value	274,929	295,716
Inventory, Net	$ 307,034	$ 328,992

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND RELATED DATA - Property and Depreciation (Details) - USD ($) $ in Thousands	12 Months Ended
	Oct. 31, 2017	Oct. 31, 2016	Oct. 31, 2015
Property and Depreciation
Capitalized interest amount	$ 344	$ 549	$ 897
Subtotal	885,614	838,036
Less: accumulated depreciation	650,384	615,998
Property, plant and equipment, net	235,230	222,038	224,995
Depreciation expense	54,679	53,355	$ 50,322
Land and land improvements
Property and Depreciation
Subtotal	38,060	34,744
Buildings and leasehold improvements
Property and Depreciation
Subtotal	$ 194,995	182,121
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	$ 349,976	325,595
Tooling
Property and Depreciation
Subtotal	$ 197,299	200,842
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	$ 88,152	85,173
Construction in process
Property and Depreciation
Subtotal	$ 17,132	$ 9,561
Equipment \| Minimum
Property and Depreciation
Estimated useful life	2 years
Equipment \| Maximum
Property and Depreciation
Estimated useful life	15 years
Software and Software Development Costs \| Minimum
Property and Depreciation
Estimated useful life	2 years
Software and Software Development Costs \| Maximum
Property and Depreciation
Estimated useful life	5 years

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND RELATED DATA - Goodwill and Indefinite-Life Intangible Assets (Details)	12 Months Ended
	Oct. 31, 2017 segment
Accounting Policies [Abstract]
Number of reporting units tested for impairment of goodwill	9
Number of operating segments	9
Number of reporting units containing goodwill	7

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND RELATED DATA - Other Long-Lived Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Oct. 31, 2017	Oct. 31, 2016	Oct. 31, 2015
Indefinite-lived Intangible Assets [Line Items]
Impairment of long-lived assets held-for-use	$ 0	$ 0	$ 1,383
Minimum
Indefinite-lived Intangible Assets [Line Items]
Estimated useful life (years)	1 year
Maximum
Indefinite-lived Intangible Assets [Line Items]
Estimated useful life (years)	20 years

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND RELATED DATA - Accounts Payable (Details) $ in Thousands	12 Months Ended
	Oct. 31, 2017 USD ($) payment_oblibations_financed	Oct. 31, 2016 USD ($)
Accounting Policies [Abstract]
Minimum number of payment obligations to be financed \| payment_oblibations_financed	1
Outstanding payment obligations placed on the accounts payable tracking system \| $	$ 24,455	$ 16,249

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND RELATED DATA - Accrued Warranties (Details) - USD ($) $ in Thousands	12 Months Ended
	Oct. 31, 2017	Oct. 31, 2016
Movement in Standard Product Warranty Accrual [Roll Forward]
Beginning balance	$ 72,158	$ 70,734
Warranty provisions	46,150	44,260
Warranty claims	(40,940)	(41,102)
Changes in estimates	(3,213)	(1,734)
Ending balance	$ 74,155	$ 72,158

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND RELATED DATA - Revenue Recognition (Details) - USD ($) $ in Thousands	Oct. 31, 2017	Oct. 31, 2016
Accounting Policies [Abstract]
Consignment inventory amount	$ 19,327	$ 22,443

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND RELATED DATA - Cost of Financing Distributor / Dealer Inventory (Details) - USD ($) $ in Thousands	12 Months Ended
	Oct. 31, 2017	Oct. 31, 2016	Oct. 31, 2015
Accounting Policies [Abstract]
Number of fiscal years the entity has repurchased immaterial amounts of inventory under repurchase agreements	3 years
Financing costs for distributor and dealer inventories	$ 30,106	$ 28,773	$ 24,130

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND RELATED DATA - Advertising (Details) - USD ($) $ in Thousands	12 Months Ended
	Oct. 31, 2017	Oct. 31, 2016	Oct. 31, 2015
Accounting Policies [Abstract]
Advertising costs	$ 42,963	$ 41,837	$ 42,843

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND RELATED DATA - Net Earnings Per Share (Details) - shares shares in Thousands	12 Months Ended
	Oct. 31, 2017	Oct. 31, 2016	Oct. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Weighted-average number of shares of common stock	108,299	109,816	111,107
Assumed issuance of contingent shares	13	18	23
Weighted-average number of shares of common stock and assumed issuance of contingent shares	108,312	109,834	111,130
Effect of dilutive securities	2,940	2,153	2,384
Weighted-average number of shares of common stock, assumed issuance of contingent shares, and effect of dilutive securities	111,252	111,987	113,514
Antidilutive securities excluded from computation of earnings per share, amount	353,897	310,566	290,120

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND RELATED DATA - New Accounting Pronouncements (Details) - USD ($)	12 Months Ended
	Oct. 31, 2017	Oct. 31, 2016	Oct. 31, 2015	Feb. 03, 2017
New Accounting Pronouncements Adopted
Discrete tax benefit	$ 19,719,000
Cumulative effect adjustment ASU 2016-16	(2,361,000)
ASU 2016-09
New Accounting Pronouncements Adopted
Increase in cash flows from operating activities	19,719,000	$ 12,495,000	$ 8,459,000
ASU 2016-16
New Accounting Pronouncements Adopted
Increase in cash flows from operating activities	8,050,000	$ 9,848,000	$ 4,264,000
Retained Earnings
New Accounting Pronouncements Adopted
Cumulative effect adjustment ASU 2016-16	$ (2,361,000)
Retained Earnings \| ASU 2016-16
New Accounting Pronouncements Adopted
Cumulative effect adjustment ASU 2016-16				$ 2,361

INVESTMENT IN JOINT VENTURE - Narrative (Details) - USD ($)	12 Months Ended
	Oct. 31, 2017	Oct. 31, 2016	Oct. 31, 2015
Schedule of Equity Method Investments [Line Items]
Period of notice to be given by parties under joint venture for not extending initial term of joint venture	1 year
Red Iron Acceptance, LLC
Schedule of Equity Method Investments [Line Items]
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	$ 550,000,000
Investment in joint venture	20,626,000	$ 18,719,000
Maximum aggregate amount of products repossessed by Red Iron and the TCFIF Canadian affiliate, entity has agreed to repurchase in a calendar year	7,500,000
Net amount of receivables financed for dealers and distributors	$ 1,847,740,000	$ 1,713,588,000	$ 1,430,855,000

INVESTMENT IN JOINT VENTURE - Summary of Red Iron (Details) - Red Iron Acceptance, LLC - USD ($) $ in Thousands	12 Months Ended
	Oct. 31, 2017	Oct. 31, 2016	Oct. 31, 2015
Schedule of Equity Method Investments [Line Items]
Revenues	$ 35,158	$ 31,812	$ 27,483
Interest and operating expenses, net	(13,030)	(10,506)	(8,885)
Net income	22,128	21,306	$ 18,598
Finance receivables, net	407,533	370,169
Other assets	2,888	4,416
Total assets	410,421	374,585
Notes payable	347,968	321,378
Other liabilities	16,617	11,607
Partners' capital	45,836	41,600
Total liabilities and partners' capital	$ 410,421	$ 374,585

OTHER INCOME, NET - Summary of Other Income/(Expense) (Details) - USD ($) $ in Thousands	12 Months Ended
	Oct. 31, 2017	Oct. 31, 2016	Oct. 31, 2015
Other Income and Expenses [Abstract]
Interest income	$ 1,359	$ 827	$ 494
Retail financing revenue	1,097	1,087	1,086
Foreign currency exchange rate gain (loss)	1,543	974	(324)
Gain on sale of business	0	340	0
Non-cash income from finance affiliate	9,960	9,588	8,353
Litigation recovery (settlements), net	(65)	1,300	125
Miscellaneous	3,293	1,284	940
Total other income, net	$ 17,187	$ 15,400	$ 10,674

GOODWILL AND OTHER INTANGIBLE ASSETS - Changes in Net Carrying Amount of Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Oct. 31, 2017	Oct. 31, 2016
Changes in the net carrying amount of goodwill
Goodwill as of the beginning of the fiscal period	$ 194,782	$ 195,533
Goodwill acquired	8,921
Translation adjustments	1,326	(751)
Goodwill as of the end of the fiscal period	205,029	194,782
Professional
Changes in the net carrying amount of goodwill
Goodwill as of the beginning of the fiscal period	184,338	184,766
Goodwill acquired	8,921
Translation adjustments	1,205	(428)
Goodwill as of the end of the fiscal period	194,464	184,338
Residential
Changes in the net carrying amount of goodwill
Goodwill as of the beginning of the fiscal period	10,444	10,767
Goodwill acquired	0
Translation adjustments	121	(323)
Goodwill as of the end of the fiscal period	$ 10,565	$ 10,444

GOODWILL AND OTHER INTANGIBLE ASSETS - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Oct. 31, 2017	Oct. 31, 2016	Oct. 31, 2015
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 142,861	$ 164,553
Amortization expense for intangible assets	9,876	$ 9,550	$ 11,438
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
Fiscal 2018	6,656
Fiscal 2019	5,778
Fiscal 2020	5,222
Fiscal 2021	4,818
Fiscal 2022	4,683
After fiscal 2022	49,014
Trade names
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 23,120
Estimated Useful Life (Years)	17 years
Reduction amortization expense	$ 1,360

GOODWILL AND OTHER INTANGIBLE ASSETS - Components of Other Intangible Assets (Details) - USD ($) $ in Thousands	Oct. 31, 2017	Oct. 31, 2016
Other Intangible Assets
Gross Carrying Amount	$ 142,861	$ 164,553
Accumulated Amortization	(66,690)	(60,728)
Net	76,171	103,825
Non-amortizable - trade names	27,572	4,268
Total other intangible assets, gross	170,433	168,821
Total other intangible assets, net	103,743	108,093
Patents
Other Intangible Assets
Gross Carrying Amount	15,162	15,151
Accumulated Amortization	(11,599)	(10,866)
Net	3,563	4,285
Non-compete agreements
Other Intangible Assets
Gross Carrying Amount	6,896	6,886
Accumulated Amortization	(6,775)	(6,681)
Net	121	205
Customer-related
Other Intangible Assets
Gross Carrying Amount	87,461	84,353
Accumulated Amortization	(18,940)	(14,434)
Net	68,521	69,919
Developed technology
Other Intangible Assets
Gross Carrying Amount	30,212	28,648
Accumulated Amortization	(26,939)	(23,712)
Net	3,273	4,936
Trade names
Other Intangible Assets
Gross Carrying Amount	2,330	28,715
Accumulated Amortization	(1,637)	(4,235)
Net	693	24,480
Other
Other Intangible Assets
Gross Carrying Amount	800	800
Accumulated Amortization	$ (800)	$ (800)

SHORT-TERM CAPITAL RESOURCES (Details)	12 Months Ended
SHORT-TERM CAPITAL RESOURCES (Details)	Oct. 31, 2017 USD ($)	Oct. 31, 2016 USD ($)
Short-term capital resources
Outstanding debt	$ 0	$ 0
Unsecured senior five-year revolving credit facility
Short-term capital resources
Maximum borrowing capacity under credit facility	$ 150,000,000
Credit facility term (in years)	5 years
Increase in the credit agreement's borrowing capacity available under the approval of named borrowers	$ 100,000,000
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	$ 20,000,000
Swingline loans
Short-term capital resources
Maximum borrowing capacity under credit facility	20,000,000
Non-U.S. Operations \| Non-U.S. operations, unsecured short-term lines of credit
Short-term capital resources
Maximum borrowing capacity under credit facility	$ 9,186,000

LONG-TERM DEBT - Summary of Long Term Debt (Details) - USD ($) $ in Thousands	Oct. 31, 2017	Oct. 31, 2016	Oct. 31, 2014	Apr. 26, 2007	Jun. 30, 1997
Debt Instrument [Line Items]
Total long-term debt	$ 331,887	$ 350,961
Less: unamortized discounts, debt issuance costs and deferred charges	(2,663)	(2,946)
Less: current portion of long-term debt	(26,258)	(22,484)
Long-term debt, less current portion	305,629	328,477
Term loan, due October 25, 2019
Debt Instrument [Line Items]
Total long-term debt	100,750	110,500	$ 130,000
7.800% Debentures, due June 15, 2027
Debt Instrument [Line Items]
Total long-term debt	$ 100,000	100,000
Interest rate percentage	7.80%				7.80%
6.625% Senior Notes, due May 1, 2037
Debt Instrument [Line Items]
Total long-term debt	$ 123,792	123,730
Interest rate percentage	6.625%			6.625%
4% Unsecured Note, due November 14, 2017
Debt Instrument [Line Items]
Total long-term debt	$ 10,008	$ 19,677
Interest rate percentage	4.00%

LONG-TERM DEBT - Narrative (Details)		1 Months Ended	12 Months Ended
LONG-TERM DEBT - Narrative (Details)	Nov. 14, 2014 USD ($)	Jun. 30, 1997 USD ($) interest_rate_swap_agreements	Oct. 31, 2017 USD ($)	Oct. 31, 2016 USD ($)	Oct. 31, 2014 USD ($)	Oct. 31, 2007 USD ($)	Apr. 26, 2007 USD ($)
Debt Instrument [Line Items]
Aggregate principal amount of notes issued	$ 30,000,000
Total long-term debt			$ 331,887,000	$ 350,961,000
Basis points			0.30%
Principal payments on long-term debt in fiscal years
2018			$ 26,258,000
2019			84,500,000
2020			0
2021			0
2022			0
After 2022			223,792,000
Term loan, due October 25, 2019
Debt Instrument [Line Items]
Total long-term debt			$ 100,750,000	110,500,000	$ 130,000,000
Description of variable base interest rate			LIBOR
6.625% Senior Notes, due May 1, 2037
Debt Instrument [Line Items]
Aggregate principal amount of notes issued							$ 125,000,000
Total long-term debt			$ 123,792,000	123,730,000
Interest rate percentage			6.625%				6.625%
Debt discount, unamortized							$ 1,859,000
Total underwriting fee and direct debt issue costs							$ 1,524,000
Effective interest rate (as a percent)			6.741%
Percentage of par value at which debt was issued							98.513%
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%
Debt securities issued in June 1997
Debt Instrument [Line Items]
Aggregate principal amount of notes issued		$ 175,000,000
7.125% coupon 10-year notes
Debt Instrument [Line Items]
Aggregate principal amount of notes issued		$ 75,000,000
Interest rate percentage		7.125%
Maturity period (in years)		10 years
Repayment of face amount of debt						$ 75,000,000
7.800% Debentures, due June 15, 2027
Debt Instrument [Line Items]
Aggregate principal amount of notes issued		$ 100,000,000
Total long-term debt			$ 100,000,000	$ 100,000,000
Interest rate percentage		7.80%	7.80%
Maturity period (in years)		30 years
Amount paid to terminate forward-starting interest rate swap agreements		$ 23,688,000
Number of terminated forward-starting interest rate swap agreements \| interest_rate_swap_agreements		3
Notional amount		$ 125,000,000
Deferred income amount at the time of swap termination		$ 18,710,000
Fiscal 2015 Acquisitions
Debt Instrument [Line Items]
Note payable at fair value	$ 31,161,000

STOCKHOLDERS' EQUITY - Narrative (Details) $ in Thousands		12 Months Ended
STOCKHOLDERS' EQUITY - Narrative (Details) $ in Thousands	Sep. 16, 2016	Oct. 31, 2017 USD ($) shares	Oct. 31, 2016 USD ($) shares	Oct. 31, 2015 USD ($) shares	Dec. 03, 2015 shares
Stock repurchase program
Stock split, conversion ratio	2
Amount paid to repurchase the shares (in dollars) \| $		$ 160,648	$ 111,999	$ 106,964
Repurchase of shares		2,730,022	2,675,575	3,151,978
Treasury shares
Treasury shares held		21,245,028	19,700,607
Cost of treasury shares (in dollars) \| $		$ 1,369,548	$ 1,280,495
Stock repurchase program
Stock repurchase program
Additional number of shares authorized to be repurchased					8,000,000
Amount paid to repurchase the shares (in dollars) \| $		$ 159,354	$ 109,986	$ 105,964
Repurchase of shares		2,710,837	2,625,913	3,122,358
Number of shares remained authorized for repurchase		4,981,878

STOCKHOLDERS' EQUITY - Components of AOCL (Details) - USD ($) $ in Thousands	Oct. 31, 2017	Oct. 31, 2016	Oct. 31, 2014
Components and activity of accumulated other comprehensive loss
Total accumulated other comprehensive loss	$ 24,120	$ 38,436
Foreign Currency Translation Adjustments
Components and activity of accumulated other comprehensive loss
Total accumulated other comprehensive loss	21,303	31,430	$ 24,328
Pension and Post-Retirement Benefits
Components and activity of accumulated other comprehensive loss
Total accumulated other comprehensive loss	2,012	6,359	5,386
Cash Flow Derivative Instruments
Components and activity of accumulated other comprehensive loss
Total accumulated other comprehensive loss	805	647	129
Accumulated Other Comprehensive Loss
Components and activity of accumulated other comprehensive loss
Total accumulated other comprehensive loss	$ 24,120	$ 38,436	$ 29,843

STOCKHOLDERS' EQUITY - Components and activity of AOCL (Details) - USD ($) $ in Thousands	12 Months Ended
	Oct. 31, 2017	Oct. 31, 2016	Oct. 31, 2015
Components and activity of accumulated other comprehensive loss
Balance as of the beginning of the fiscal period	$ (550,035)	$ (462,165)	$ (408,727)
Net current period other comprehensive (income) loss	(14,316)	8,593	14,138
Balance as of the end of the fiscal period	(617,092)	(550,035)	(462,165)
Foreign Currency Translation Adjustments
Components and activity of accumulated other comprehensive loss
Balance as of the beginning of the fiscal period	31,430	24,328
Other comprehensive income before reclassifications	(10,127)	7,102
Net current period other comprehensive (income) loss	(10,127)	7,102
Balance as of the end of the fiscal period	21,303	31,430	24,328
Pension and Post-Retirement Benefits
Components and activity of accumulated other comprehensive loss
Balance as of the beginning of the fiscal period	6,359	5,386
Other comprehensive income before reclassifications	(4,347)	973
Amounts reclassified from AOCL		0
Net current period other comprehensive (income) loss	(4,347)	973
Balance as of the end of the fiscal period	2,012	6,359	5,386
Cash Flow Derivative Instruments
Components and activity of accumulated other comprehensive loss
Balance as of the beginning of the fiscal period	647	129
Other comprehensive income before reclassifications	(233)	1,116
Amounts reclassified from AOCL	391	(598)
Net current period other comprehensive (income) loss	158	518
Balance as of the end of the fiscal period	805	647	129
Accumulated Other Comprehensive Loss
Components and activity of accumulated other comprehensive loss
Balance as of the beginning of the fiscal period	38,436	29,843	15,705
Other comprehensive income before reclassifications	(14,707)	9,191
Amounts reclassified from AOCL	391	(598)
Net current period other comprehensive (income) loss	(14,316)	8,593	14,138
Balance as of the end of the fiscal period	$ 24,120	$ 38,436	$ 29,843

INCOME TAXES - Narrative (Details)	Oct. 31, 2017 USD ($)
Income Taxes [Line Items]
Deferred Tax Liabilities, Undistributed Foreign Earnings	$ 0
Undistributed earnings of foreign subsidiaries	159,003,000
Accrued interest and penalties for unrecognized tax benefits	236,000
Potential benefits that would affect the effective tax rate	2,177,000
Foreign Jurisdictions
Income Taxes [Line Items]
Net operating loss carryforwards in foreign jurisdictions	6,569,000
Net operating loss carryforwards in foreign jurisdictions not subject to expiration	3,327,000
Net operating loss carryforwards in foreign jurisdictions subject to expiration between fiscal years 2017 and 2022	$ 3,242,000

INCOME TAXES - Earnings Before Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Oct. 31, 2017	Oct. 31, 2016	Oct. 31, 2015
Earnings before income taxes:
U.S.	$ 307,136	$ 292,184	$ 254,276
Foreign	46,048	38,276	36,755
Earnings before income taxes	$ 353,184	$ 330,460	$ 291,031

INCOME TAXES - Reconciliation of the Statutory Federal Income Tax Rate (Details)	12 Months Ended
	Oct. 31, 2017	Oct. 31, 2016	Oct. 31, 2015
Effective Income Tax Rate Reconciliation, Percent [Abstract]
Statutory federal income tax rate	35.00%	35.00%	35.00%
Statutory federal income tax rate	(5.30%)	(0.00%)	(0.00%)
Domestic manufacturer's deduction	(1.20%)	(0.80%)	(1.70%)
State and local income taxes, net of federal benefit	0.50%	1.50%	2.20%
Foreign taxes	(2.30%)	(1.80%)	(3.10%)
Federal research tax credit	(1.50%)	(1.50%)	(0.90%)
Other, net	(1.00%)	(2.30%)	(0.80%)
Consolidated effective tax rate	24.20%	30.10%	30.70%

INCOME TAXES - Components of the Provisions For Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Oct. 31, 2017	Oct. 31, 2016	Oct. 31, 2015
Current provision:
Federal	$ 83,091	$ 77,685	$ 75,496
State	3,036	6,929	9,389
Foreign	8,166	6,295	6,219
Total current provision	94,293	90,909	91,104
Deferred provision (benefit):
Federal	(8,774)	7,283	430
State	(101)	297	0
Foreign	49	977	(2,094)
Total deferred provision (benefit)	(8,826)	8,557	(1,664)
Provision for income taxes	$ 85,467	$ 99,466	$ 89,440

INCOME TAXES - Tax Effects of Temporary Differences (Details) - USD ($) $ in Thousands	Oct. 31, 2017	Oct. 31, 2016
Deferred income tax assets:
Compensation and benefits	$ 38,753	$ 37,200
Warranty and insurance	23,993	17,443
Advertising and sales allowance	10,428	11,185
Other	12,234	10,327
Valuation allowance	(1,951)	(1,867)
Total deferred income tax assets	83,457	74,288
Deferred income tax liabilities:
Depreciation	(13,259)	(13,578)
Amortization	(7,841)	(3,482)
Total deferred income tax liabilities	(21,100)	(17,060)
Deferred income tax assets, net	$ 62,357	$ 57,228

INCOME TAXES - Reconciliation (Details) $ in Thousands	12 Months Ended
INCOME TAXES - Reconciliation (Details) $ in Thousands	Oct. 31, 2017 USD ($)
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance at the beginning of the period	$ 5,175
Increase as a result of tax positions taken during a prior period	432
Increase as a result of tax positions taken during the current period	948
Decrease relating to settlements with taxing authorities	(2,673)
Reductions as a result of statute of limitations lapses	(769)
Balance at the end of the period	$ 3,113

STOCK-BASED COMPENSATION PLANS - Narrative (Details) $ in Thousands		12 Months Ended
	Sep. 16, 2016	Oct. 31, 2017 USD ($) shares	Oct. 31, 2016 shares	Oct. 31, 2015 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock split, conversion ratio	2
Common stock available for future grants (in shares) \| shares		5,517,897
Stock option awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares) \| shares		554,364
Compensation cost not yet recognized \| $		$ 3,129
Period for recognition		1 year 11 months 26 days
Stock option awards \| Non-employee directors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
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 \| Certain employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period		3 years
Term of award		10 years
Stock option awards \| Certain members of the Board Of Directors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period		3 years
Term of award		10 years
Restricted stock and restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation cost not yet recognized \| $		$ 2,953
Period for recognition		2 years 1 month 23 days
Performance share awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation cost not yet recognized \| $		$ 5,108
Performance goal period		3 years
Period for recognition		1 year 8 months 1 day
Unrestricted common stock awards \| Certain members of the Board Of Directors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares) \| shares		11,412	12,320	13,360

STOCK-BASED COMPENSATION PLANS - Compensation Costs Related to Stock-Based Awards (Details) - USD ($) $ in Thousands	12 Months Ended
	Oct. 31, 2017	Oct. 31, 2016	Oct. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total compensation cost for stock-based awards	$ 13,517	$ 10,637	$ 10,836
Related tax benefit from stock-based awards	5,001	3,936	4,009
Stock option awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total compensation cost for stock-based awards	5,496	4,606	4,704
Restricted stock and restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total compensation cost for stock-based awards	2,300	1,891	1,756
Performance share awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total compensation cost for stock-based awards	5,183	3,676	3,964
Unrestricted common stock awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total compensation cost for stock-based awards	$ 538	$ 464	$ 412

STOCK-BASED COMPENSATION PLANS STOCK-BASED COMPENSATION PLANS - Stock Option Activity (Details) - Stock option awards - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Oct. 31, 2017	Oct. 31, 2016
Stock Option Awards
Outstanding at the beginning of the period (in shares)	4,879,984
Granted (in shares)	554,364
Exercised (in shares)	(954,909)
Cancelled/forfeited (in shares)	(19,744)
Outstanding at the end of the period (in shares)	4,459,695	4,879,984
Exercisable at the end of the period (in shares)	3,331,979
Weighted-Average Exercise Price
Outstanding at the beginning of the period (in dollars per share)	$ 20.07
Granted (in dollars per share)	55.82
Exercised (in dollars per share)	11.48
Cancelled/forfeited (in dollars per share)	51.74
Outstanding at the end of the period (in dollars per share)	26.22	$ 20.07
Exercisable at the end of the period (in dollars per share)	$ 19.64
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Weighted-average contractual life (years)	5 years 3 months 18 days	5 years 3 months 10 days
Exercisable at the end of the period (years)	4 years 3 months 10 days
Outstanding of the beginning of the period, intrinsic value	$ 135,697
Outstanding of the end of the period, intrinsic value	163,369	$ 135,697
Exercisable at the end of the period, intrinsic value	$ 143,960

STOCK-BASED COMPENSATION PLANS - Market and Intrinsic Value of Options Exercised (Details) - Stock option awards - USD ($) $ in Thousands	12 Months Ended
	Oct. 31, 2017	Oct. 31, 2016	Oct. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Market value of stock options exercised	$ 58,976	$ 61,468	$ 27,860
Intrinsic value of options exercised	$ 48,017	$ 41,365	$ 18,739

STOCK-BASED COMPENSATION PLANS - Weighted-average Valuation Assumptions For Options Granted (Details) - Stock option awards - $ / shares	12 Months Ended
	Oct. 31, 2017	Oct. 31, 2016	Oct. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average fair value at date of grant	$ 12.55	$ 8.79	$ 8.41
Estimated Useful Life (Years)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected life of option in years	6 years 8 days	5 years 11 months 19 days	5 years 11 months 9 days
Expected stock price volatility	22.15%	24.04%	29.66%
Risk-free interest rate	2.03%	1.80%	1.61%
Expected dividend yield	1.01%	1.24%	1.29%

STOCK-BASED COMPENSATION PLANS - Factors Related to the Company's Stock and Restricted Stock Units (Details) - Restricted stock and restricted stock units - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Oct. 31, 2017	Oct. 31, 2016	Oct. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average fair value at date of grant	$ 66.09	$ 41.83	$ 33.88
Fair value of restricted stock and restricted stock units vested	$ 3,604	$ 2,681	$ 2,744

STOCK-BASED COMPENSATION PLANS - Summary of Activity For Unvested Restricted Stock and Restricted Stock Units (Details) - Restricted stock and restricted stock units - $ / shares shares in Thousands	12 Months Ended
	Oct. 31, 2017	Oct. 31, 2016	Oct. 31, 2015
Restricted Stock Units
Unvested at the beginning of the period (in shares)	139,480
Granted (in shares)	43,167
Vested (in shares)	(53,709)
Forfeited (in shares)	(4,666)
Unvested at the end of the period (in shares)	124,272	139,480
Weighted-Average Fair Value at Date of Grant
Unvested at the beginning of the period (in dollars per share)	$ 34.51
Granted (in dollars per share)	66.09	$ 41.83	$ 33.88
Vested (in dollars per share)	33.14
Forfeited (in dollars per share)	37.38
Unvested at the end of the period (in dollars per share)	$ 45.66	$ 34.51

STOCK-BASED COMPENSATION PLANS - Factors Related to the Company's Performance Share Awards (Details) - Performance share awards - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Oct. 31, 2017	Oct. 31, 2016	Oct. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average fair value at date of grant	$ 54.52	$ 38.89	$ 32.84
Fair value of restricted stock and restricted stock units vested	$ 7,018	$ 7,454	$ 7,989

STOCK-BASED COMPENSATION PLANS - Summary of Activity For Unvested Performance Share Awards (Details) - Performance share awards - $ / shares shares in Thousands	12 Months Ended
	Oct. 31, 2017	Oct. 31, 2016	Oct. 31, 2015
Restricted Stock Units
Unvested at the beginning of the period (in shares)	317,850
Granted (in shares)	74,800
Vested (in shares)	(107,198)
Forfeited (in shares)	(3,301)
Unvested at the end of the period (in shares)	282,151	317,850
Weighted-Average Fair Value at Date of Grant
Unvested at the beginning of the period (in dollars per share)	$ 33.95
Weighted-average fair value at date of grant	54.52	$ 38.89	$ 32.84
Vested (in dollars per share)	30.10
Forfeited (in dollars per share)	47.96
Unvested at the end of the period (in dollars per share)	$ 40.71	$ 33.95

EMPLOYEE RETIREMENT PLANS - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Oct. 31, 2017	Oct. 31, 2016	Oct. 31, 2015
Compensation and Retirement Disclosure [Abstract]
Investments, Savings, Employee Stock Ownership Plan, expenses	$ 17,932	$ 16,986	$ 17,400
Projected benefit obligation	41,448	45,603
Amount of net liability recognized	4,558	4,243
Accumulated benefit obligation	41,448	45,603
Funded status of plans	6,238	12,984
Fair value of the plan assets	35,211	32,619
Net expense recognized	$ 1,477	$ 1,220	$ 2,406

EMPLOYEE RETIREMENT PLANS - AOCL related disclosures (Details) - USD ($) $ in Thousands	12 Months Ended
	Oct. 31, 2017	Oct. 31, 2016
Amounts recognized in accumulated other comprehensive loss
Net actuarial loss (gain)	$ 2,012	$ 6,050
Net prior service cost		309
Accumulated other comprehensive loss (income)	2,012	6,359
Amounts included in accumulated other comprehensive loss, expected to be recognized as components of net periodic benefit cost
Net actuarial loss (gain)	(249)
Total	(249)
Amounts recognized in net periodic benefit cost and other comprehensive loss
Net actuarial gain	(3,814)	1,088
Prior service cost	51	0
Amortization of unrecognized prior service credit	(360)	(42)
Amortization of unrecognized actuarial gain	(224)	(73)
Total recognized in other comprehensive income	(4,347)	973
Total recognized in net periodic benefit cost and other comprehensive loss (income)	(2,870)	2,193
Defined Benefit Pension Plans
Amounts recognized in accumulated other comprehensive loss
Net actuarial loss (gain)	4,998	5,496
Net prior service cost		309
Accumulated other comprehensive loss (income)	4,998	5,805
Amounts included in accumulated other comprehensive loss, expected to be recognized as components of net periodic benefit cost
Net actuarial loss (gain)	128
Total	128
Amounts recognized in net periodic benefit cost and other comprehensive loss
Net actuarial gain	(280)	469
Prior service cost	51	0
Amortization of unrecognized prior service credit	(360)	(42)
Amortization of unrecognized actuarial gain	(219)	(73)
Total recognized in other comprehensive income	(808)	354
Total recognized in net periodic benefit cost and other comprehensive loss (income)	22	976
Post-retirement Benefit Plan
Amounts recognized in accumulated other comprehensive loss
Net actuarial loss (gain)	(2,986)	554
Accumulated other comprehensive loss (income)	(2,986)	554
Amounts included in accumulated other comprehensive loss, expected to be recognized as components of net periodic benefit cost
Net actuarial loss (gain)	(377)
Total	(377)
Amounts recognized in net periodic benefit cost and other comprehensive loss
Net actuarial gain	(3,534)	619
Amortization of unrecognized prior service credit	0	0
Amortization of unrecognized actuarial gain	(5)	0
Total recognized in other comprehensive income	(3,539)	619
Total recognized in net periodic benefit cost and other comprehensive loss (income)	$ (2,892)	$ 1,217

SEGMENT DATA - Narrative (Details)	12 Months Ended
SEGMENT DATA - Narrative (Details)	Oct. 31, 2017 segment customer	Oct. 31, 2016	Oct. 31, 2015
Segment Reporting Information [Line Items]
Number of operating segments	9
Number of reportable business segments	3
Single customer \| Customer concentration \| Sales \| Residential
Segment Reporting Information [Line Items]
Number of customers \| customer	1
Percentage of consolidated gross sales accounted for by one customer (as a percent)	10.00%	11.00%	11.00%

SEGMENT DATA - Summarized Financial Information (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Oct. 31, 2017	Aug. 04, 2017	May 05, 2017	Feb. 03, 2017	Oct. 31, 2016	Jul. 29, 2016	Apr. 29, 2016	Jan. 29, 2016	Oct. 31, 2017	Oct. 31, 2016	Oct. 31, 2015
Segment Reporting Information [Line Items]
Net sales	$ 488,627	$ 627,943	$ 872,767	$ 515,839	$ 468,356	$ 600,980	$ 836,441	$ 486,398	$ 2,505,176	$ 2,392,175	$ 2,390,875
Intersegment gross sales									0	0	0
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest									353,184	330,460	291,031
Total assets	1,493,787				1,384,572				1,493,787	1,384,572	1,300,429
Capital expenditures									58,276	50,723	56,374
Depreciation and amortization									64,986	64,097	63,143
Professional
Segment Reporting Information [Line Items]
Net sales									1,811,705	1,705,312	1,639,659
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest									379,496	352,060	308,010
Total assets	836,600				774,762				836,600	774,762	805,686
Capital expenditures									29,786	27,296	29,016
Depreciation and amortization									41,313	40,715	42,799
Residential
Segment Reporting Information [Line Items]
Net sales									673,247	669,131	725,682
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest									74,704	73,691	84,956
Total assets	189,578				188,920				189,578	188,920	217,093
Capital expenditures									10,605	13,794	9,953
Depreciation and amortization									10,308	10,406	9,131
Other
Segment Reporting Information [Line Items]
Net sales									20,224	17,732	25,534
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest									(101,016)	(95,291)	(101,935)
Total assets	$ 467,609				$ 420,890				467,609	420,890	277,650
Capital expenditures									17,885	9,633	17,405
Depreciation and amortization									13,365	12,976	11,213
Intersegment \| Professional
Segment Reporting Information [Line Items]
Intersegment gross sales									27,893	28,138	45,634
Intersegment \| Residential
Segment Reporting Information [Line Items]
Intersegment gross sales									332	354	406
Intersegment \| Other
Segment Reporting Information [Line Items]
Intersegment gross sales									$ (28,225)	$ (28,492)	$ (46,040)

SEGMENT DATA - Other Segment Operating Loss Before Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Oct. 31, 2017	Oct. 31, 2016	Oct. 31, 2015
Segment Reporting Information [Line Items]
Interest expense	$ (19,113)	$ (19,336)	$ (18,757)
Other income, net	17,187	15,400	10,674
Total operating loss	353,184	330,460	291,031
Other
Segment Reporting Information [Line Items]
Corporate expenses	(100,928)	(95,288)	(95,167)
Interest expense	(19,113)	(19,336)	(18,757)
Other income, net	19,025	19,333	11,989
Total operating loss	$ (101,016)	$ (95,291)	$ (101,935)

SEGMENT DATA - Net Sales (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
SEGMENT DATA - Net Sales (Details) - USD ($) $ in Thousands	Oct. 31, 2017	Aug. 04, 2017	May 05, 2017	Feb. 03, 2017	Oct. 31, 2016	Jul. 29, 2016	Apr. 29, 2016	Jan. 29, 2016	Oct. 31, 2017	Oct. 31, 2016	Oct. 31, 2015
Net sales for groups of similar products and services
Net sales	$ 488,627	$ 627,943	$ 872,767	$ 515,839	$ 468,356	$ 600,980	$ 836,441	$ 486,398	$ 2,505,176	$ 2,392,175	$ 2,390,875
Equipment
Net sales for groups of similar products and services
Net sales									2,060,354	2,001,150	2,004,274
Irrigation and lighting
Net sales for groups of similar products and services
Net sales									$ 444,822	$ 391,025	$ 386,601

SEGMENT DATA - Geographic Data (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Oct. 31, 2017	Aug. 04, 2017	May 05, 2017	Feb. 03, 2017	Oct. 31, 2016	Jul. 29, 2016	Apr. 29, 2016	Jan. 29, 2016	Oct. 31, 2017	Oct. 31, 2016	Oct. 31, 2015
Geographic Data
Net sales	$ 488,627	$ 627,943	$ 872,767	$ 515,839	$ 468,356	$ 600,980	$ 836,441	$ 486,398	$ 2,505,176	$ 2,392,175	$ 2,390,875
Long-lived assets	235,230				222,038				235,230	222,038	224,995
United States
Geographic Data
Net sales									1,893,249	1,812,587	1,780,240
Long-lived assets	194,338				188,869				194,338	188,869	190,262
Foreign Countries
Geographic Data
Net sales									611,927	579,588	610,635
Long-lived assets	$ 40,892				$ 33,169				$ 40,892	$ 33,169	$ 34,733

COMMITMENTS AND CONTINGENT LIABILITIES - Narrative (Details) - USD ($)	12 Months Ended
	Oct. 31, 2017	Oct. 31, 2016	Oct. 31, 2015
Leases
Rental expense for operating leases	$ 27,865,000	$ 26,363,000	$ 24,986,000
Future minimum lease payments under noncancelable operating leases
Total future minimum lease payments	94,091,000
2018	16,789,000
2019	14,881,000
2020	12,573,000
2021	11,504,000
2022	9,833,000
After 2022	28,511,000
Purchase Commitments
Amount of noncancelable purchase commitments	12,797,000
Maximum obligation for the construction of a new corporate headquarters facility	8,936,000
Remaining obligation for the construction of a new corporate headquarters facility	7,806,000
Letters of Credit
Letters of credit outstanding	10,220,000	$ 8,984,000
Wholesale Financing
Customer Financing
Receivables purchased by third party financing company from the company	32,124,000
Receivables financed by third party financing company, excluding Red Iron, outstanding	13,109,000
Maximum amount of contingent liability to repurchase inventory related receivables under limited inventory repurchase agreements	10,712,000
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	$ 6,559,000

FINANCIAL INSTRUMENTS - Narrative (Details) $ in Thousands	3 Months Ended	12 Months Ended
FINANCIAL INSTRUMENTS - Narrative (Details) $ in Thousands	Jul. 29, 2016 instrument	Oct. 31, 2017 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
Losses from AOCL to earnings		$ (1,017)
Forward currency contracts
Summary of cash flow hedge activity
Notional amount		$ 102,733
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, 2017	Oct. 31, 2016
Fair value of derivatives
Asset Derivatives	$ 1,041	$ 1,967
Forward currency contracts
Fair value of derivatives
Asset Derivatives	1,041	1,967
Liability Derivatives	2,266	1,765
Forward currency contracts \| Derivatives Designated as Hedging Instruments \| Prepaid expenses and other current assets
Fair value of derivatives
Asset Derivatives	1,014	1,535
Forward currency contracts \| Derivatives Designated as Hedging Instruments \| Accrued liabilities
Fair value of derivatives
Liability Derivatives	1,563	973
Forward currency contracts \| Derivatives Not Designated as Hedging Instruments \| Prepaid expenses and other current assets
Fair value of derivatives
Asset Derivatives	27	432
Forward currency contracts \| Derivatives Not Designated as Hedging Instruments \| Accrued liabilities
Fair value of derivatives
Liability Derivatives	$ 703	$ 792

FINANCIAL INSTRUMENTS - Impact on Earnings (Details) - USD ($) $ in Thousands	12 Months Ended
	Oct. 31, 2017	Oct. 31, 2016
Derivatives Not Designated as Hedging Instruments
Derivative Instruments and Hedging Activities
Total derivatives not designated as cash flow hedging instruments	$ (4,251)	$ (195)
Derivatives Not Designated as Hedging Instruments \| Forward currency contracts \| Other income, net
Derivative Instruments and Hedging Activities
Total derivatives not designated as cash flow hedging instruments	(4,251)	(4)
Derivatives Not Designated as Hedging Instruments \| Cross currency contracts \| Other income, net
Derivative Instruments and Hedging Activities
Total derivatives not designated as cash flow hedging instruments	0	(191)
Cash Flow Hedging
Derivative Instruments and Hedging Activities
Total ineffective portion and components excluded from effectiveness testing	231	608
Cash Flow Hedging \| Cross currency contracts \| Other income, net
Derivative Instruments and Hedging Activities
Total ineffective portion and components excluded from effectiveness testing	$ 231	$ 608

FINANCIAL INSTRUMENTS - Effects of Master Netting Arrangements (Details) - USD ($) $ in Thousands	Oct. 31, 2017	Oct. 31, 2016
Assets
Forward currency contracts	$ 1,041	$ 1,967
Forward currency contracts
Assets
Gross Amounts of Recognized Assets	1,055	2,264
Gross Liabilities Offset in the Balance Sheets	(14)	(297)
Forward currency contracts	1,041	1,967
Liabilities
Gross Amounts of Recognized Liabilities	(2,266)	(1,765)
Derivative Liability, Fair Value, Gross Asset	0	0
Net Amount of Liabilities Presented in the Balance Sheet	$ (2,266)	$ (1,765)

FINANCIAL INSTRUMENTS - Impacts and Location of Amounts Reclassified From AOCL (Details) - Cash Flow Hedging - USD ($) $ in Thousands	12 Months Ended
	Oct. 31, 2017	Oct. 31, 2016
Derivative Instruments, Gain (Loss) [Line Items]
Total derivatives designated as cash flow hedging instruments	$ 391	$ (598)
Total derivatives designated as cash flow hedging instruments	(158)	(525)
Forward currency contracts \| Net sales
Derivative Instruments, Gain (Loss) [Line Items]
Total derivatives designated as cash flow hedging instruments	1,547	2,094
Total derivatives designated as cash flow hedging instruments	(2,007)	(961)
Forward currency contracts \| Cost of sales
Derivative Instruments, Gain (Loss) [Line Items]
Total derivatives designated as cash flow hedging instruments	(1,156)	(2,598)
Total derivatives designated as cash flow hedging instruments	1,849	181
Cross currency contracts \| Other income, net
Derivative Instruments, Gain (Loss) [Line Items]
Total derivatives designated as cash flow hedging instruments	0	(94)
Total derivatives designated as cash flow hedging instruments	$ 0	$ 255

FAIR VALUE - Recurring Fair Value Measurements (Details) - USD ($) $ in Thousands	Oct. 31, 2017	Oct. 31, 2016
Assets:
Forward currency contracts	$ 1,041	$ 1,967
Forward currency contracts
Assets:
Forward currency contracts	1,041	1,967
Liabilities:
Forward currency contracts	2,266	1,765
Measured on a recurring basis
Assets:
Total assets	1,041	1,967
Liabilities:
Deferred compensation liabilities	630	1,149
Total liabilities	2,896	2,914
Measured on a recurring basis \| Forward currency contracts
Assets:
Forward currency contracts	1,041	1,967
Liabilities:
Forward currency contracts	2,266	1,765
Measured on a recurring basis \| Level 2
Assets:
Total assets	1,041	1,967
Liabilities:
Deferred compensation liabilities	630	1,149
Total liabilities	2,896	2,914
Measured on a recurring basis \| Level 2 \| Forward currency contracts
Assets:
Forward currency contracts	1,041	1,967
Liabilities:
Forward currency contracts	$ 2,266	$ 1,765

FAIR VALUE - Narrative (Details) - USD ($) $ in Thousands	Oct. 31, 2017	Oct. 31, 2016
Fair Value Disclosures [Abstract]
Transfer of assets from level 1 to level 2	$ 0	$ 0
Transfer of liabilities from level 1 to level 2	0	0
Transfer of assets from level 2 to level 1	0	0
Transfer of liabilities from level 2 to level 1	0	0
Long-term debt with fixed interest rates	282,412	293,295
Carrying amount of long-term debt	$ 231,137	$ 240,461

QUARTERLY FINANCIAL DATA (unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Oct. 31, 2017	Aug. 04, 2017	May 05, 2017	Feb. 03, 2017	Oct. 31, 2016	Jul. 29, 2016	Apr. 29, 2016	Jan. 29, 2016	Oct. 31, 2017	Oct. 31, 2016	Oct. 31, 2015
Quarterly Financial Information Disclosure [Abstract]
Net sales	$ 488,627	$ 627,943	$ 872,767	$ 515,839	$ 468,356	$ 600,980	$ 836,441	$ 486,398	$ 2,505,176	$ 2,392,175	$ 2,390,875
Gross profit	184,258	226,785	316,314	193,480	172,137	216,617	303,187	182,654	920,837	874,595	835,935
Net earnings	$ 33,848	$ 68,404	$ 120,475	$ 44,990	$ 30,230	$ 55,822	$ 105,681	$ 39,261	$ 267,717	$ 230,994	$ 201,591
Basic net earnings per share of common stock (in dollars per share)	$ 0.31	$ 0.63	$ 1.11	$ 0.41	$ 0.28	$ 0.51	$ 0.96	$ 0.36	$ 2.47	$ 2.10	$ 1.81
Diluted net earnings per share of common stock (in dollars per share)	$ 0.31	$ 0.61	$ 1.08	$ 0.41	$ 0.27	$ 0.50	$ 0.94	$ 0.35	$ 2.41	$ 2.06	$ 1.78

SCHEDULE II: Valuation and Qualifying Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Oct. 31, 2017	Oct. 31, 2016	Oct. 31, 2015
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	$ 1,609	$ 1,378	$ 1,481
Charged to costs and expense	934	424	350
Deductions	396	193	453
Balance at the end of the fiscal year	2,147	1,609	1,378
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	81,315	76,689	66,169
Charged to costs and expense	377,989	355,509	318,211
Deductions	373,370	350,883	307,691
Balance at the end of the fiscal year	$ 85,934	$ 81,315	$ 76,689