Restricted Cash and Short-Term Investments

12 Months Ended

Oct. 29, 2017

Cash and Cash Equivalents [Abstract]

Restricted Cash and Short-Term Investments

Restricted Cash and Short-Term Investments

Restricted cash primarily includes amounts related to requirements under certain contracts with managed service program customers for whom the Company manages the customers’ contingent staffing requirements, including processing of associate vendor billings into single, combined customer billings and distribution of payments to associate vendors on behalf of customers, as well as minimum cash deposits required to be maintained as collateral. Distribution of payments to associate vendors are generally made shortly after receipt of payment from customers, with undistributed amounts included in restricted cash and accounts payable between receipt and distribution of these amounts. Changes in restricted cash collateral are classified as an operating activity, as this cash is directly related to the operations of this business. At October 29, 2017 and October 30, 2016 restricted cash included $15.1 million and $8.4 million, respectively, restricted for payment to associate vendors and $1.9 million and $1.9 million, respectively, restricted for other collaterized accounts.

At October 29, 2017 and October 30, 2016, short-term investments were $3.5 million and $3.6 million, respectively. These short-term investments consisted primarily of the fair value of deferred compensation investments corresponding to employees’ selections, primarily in mutual funds, based on quoted prices in active markets.