Auction Rate Securities (Tables)
 6 Months Ended
Apr. 30, 2012
Significant Assumptions Used to Determine the Fair Value of Auction Rate Securities

The following table presents the significant assumptions used to determine the fair value of the Company’s auction rate securities at April 30, 2012 and October 31, 2011:

 

Assumptions

    April 30, 2012   October 31, 2011

Discount rates

    L + 0.62% - L + 4.47%   L + 3.21% - L + 17.50%

Yields

    2.15%, L + 2.0% - L + 3.5%   L + 2.0% - L + 3.5%

Average expected lives

    4 - 10 years   4 - 10 years
Changes in Cost Basis and Fair Value of Auction Rate Securities

The following table presents the changes in the cost basis and fair value of the Company’s auction rate securities for the six months ended April 30, 2012:

 

           Fair Value  

(in thousands)

    Cost Basis     (Level 3)  

Balance at beginning of year

    $ 18,307      $ 15,670   

Unrealized gains included in accumulated other comprehensive loss

      —          2,324   

Other-than-temporary credit losses recognized in earnings

      (313 )      —     
  

 

 

    

 

 

  

Balance at April 30, 2012

    $ 17,994      $ 17,994