|
Derivative Instruments and Fair Value Measurement of Assets and Liabilities (Tables)
|
6 Months Ended |
|
Apr. 30, 2013
|
| Derivative Insruments and Fair Value of Assets and Liabilities [Abstract] |
|
| Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance [Table Text Block] |
We have not designated any of our derivative contracts as hedges for accounting purposes. Therefore, changes in the fair value of these contracts are recorded in the Condensed Consolidated Statements of Income as follows: | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended | | Six Months Ended | | Derivatives Not Designated as | Location of Gain or (Loss) | | April 30, | | April 30, |
| Hedging Instruments | Recognized in Earnings | | 2013 | | 2012 | | 2013 | | 2012 | | | | | (In thousands) | Aluminum derivatives | Cost of sales | | $ | (253 | ) | | $ | (864 | ) | | $ | (184 | ) | | $ | 97 |
| | Foreign currency derivatives | Other, net | | $ | 326 |
| | $ | (95 | ) | | $ | (382 | ) | | $ | 626 |
| |
|
| Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block] |
The fair value of outstanding derivative contracts recorded as assets and liabilities on the accompanying Condensed Consolidated Balance Sheet is indicated in the table below: | | | | | | | | | | April 30, 2013 | | October 31, 2012 | | (In thousands) | Asset Derivatives | | | | Prepaid and other current assets: | | | | Aluminum derivatives | $ | — |
| | $ | 10 |
| Foreign currency derivatives | $ | 29 |
| | $ | 6 |
| | | | | Liability Derivatives | | | | Accrued liabilities: | | | | Aluminum derivatives | $ | 338 |
| | $ | 170 |
| Foreign currency derivatives | $ | 124 |
| | $ | 23 |
| Other liabilities (non-current): | | | | Aluminum derivatives | $ | — |
| | $ | 4 |
|
|
| Schedule of Notional Amounts of Oustanding Derivative Positions |
The following table summarizes the notional amounts and fair value of our outstanding derivative contracts: | | | | | | | | | | | | | | | | | Notional as indicated | | Fair Value in $ | | | April 30, 2013 | | October 31, 2012 | | April 30, 2013 | | October 31, 2012 | | | (In thousands) | Aluminum derivatives: | | | | | | | | | Aluminum forward purchase contracts | LBS | 1,102 |
| | 2,370 |
| | $ | (65 | ) | | $ | (164 | ) | Aluminum swap contracts | LBS | 1,874 |
| | — |
| | $ | (273 | ) | | $ | — |
| | | | | | | | | | Foreign currency exchange derivatives: | | | | | | | | | Sell EUR, buy GBP | EUR | — |
| | 545 |
| | $ | — |
| | $ | — |
| Sell EUR, buy USD | EUR | 8,092 |
| | 7,663 |
| | $ | (118 | ) | | $ | (23 | ) | Sell CAD, buy USD | CAD | 486 |
| | 608 |
| | $ | (6 | ) | | $ | 1 |
| Buy GBP, sell USD | GBP | 3,035 |
| | 1,934 |
| | $ | 26 |
| | $ | 5 |
| Buy EUR, sell GBP | EUR | 355 |
| | — |
| | $ | 3 |
| | $ | — |
|
|
| Summary of Fair Value of Assets Measured on Recurring Basis |
The following table summarizes the assets and liabilities measured on a recurring basis based on the fair value hierarchy: | | | | | | | | | | | | | | | | | | | | | | | | | | | | April 30, 2013 | | October 31, 2012 | | Level 1 | Level 2 | Level 3 | Total | | Level 1 | Level 2 | Level 3 | Total | | (In thousands) | Assets | | Money market fund investments | $ | 929 |
| $ | — |
| $ | — |
| $ | 929 |
| | $ | 67,819 |
| $ | — |
| $ | — |
| $ | 67,819 |
| Pension plan assets | 23,006 |
| — |
| — |
| 23,006 |
| | 18,562 |
| — |
| — |
| 18,562 |
| Aluminum derivatives | — |
| — |
| — |
| — |
| | — |
| 10 |
| — |
| 10 |
| Foreign currency exchange derivatives | — |
| 29 |
| — |
| 29 |
| | — |
| 6 |
| — |
| 6 |
| Total assets | $ | 23,935 |
| $ | 29 |
| $ | — |
| $ | 23,964 |
| | $ | 86,381 |
| $ | 16 |
| $ | — |
| $ | 86,397 |
| | | | | | | | | | | Liabilities | | | | | | | | | | Aluminum derivatives | $ | — |
| $ | (338 | ) | $ | — |
| $ | (338 | ) | | $ | — |
| $ | (174 | ) | $ | — |
| $ | (174 | ) | Foreign currency exchange derivatives | — |
| (124 | ) | — |
| (124 | ) | | — |
| (23 | ) | — |
| (23 | ) | Contingent consideration | $ | — |
| $ | — |
| $ | (250 | ) | $ | (250 | ) | | $ | — |
| $ | — |
| $ | — |
| $ | — |
| Total liabilities | $ | — |
| $ | (462 | ) | $ | (250 | ) | $ | (712 | ) | | $ | — |
| $ | (197 | ) | $ | — |
| $ | (197 | ) | | | | | | | | | | | Net assets (liabilities) | $ | 23,935 |
| $ | (433 | ) | $ | (250 | ) | $ | 23,252 |
| | $ | 86,381 |
| $ | (181 | ) | $ | — |
| $ | 86,200 |
|
|