Shareholder's Equity

12 Months Ended

Oct. 31, 2014

Equity [Abstract]

Shareholder’s Equity

NOTE 13:  Shareholder’s Equity

The authorized capital stock of the Company consists of 25,000 shares of preferred stock ($100 par value), 475,000 shares of serial preferred stock ($1.00 par value), each issuable in series, and 60,000,000 shares of common stock ($.20 par value).  At the end of fiscal 2014, there were no shares of preferred stock or serial preferred stock outstanding.

Changes in outstanding common shares are summarized as follows:

	2014			2013
Balance, beginning of year		31,441,949			30,869,390
Shares issued under share-based compensation plans		681,768			572,559
Shares issued		32,123,717			31,441,949
Treasury stock purchased		(269,228	)		-
Balance, end of year		31,854,489			31,441,949

On June 19, 2014, the Company’s board of directors approved the share repurchase program.  Under the program, the Company is authorized to repurchase up to $200 million of outstanding shares of common stock from time to time, depending on market conditions, share price and other factors.  Repurchases may be made in the open market or through private transactions, in accordance with SEC requirements.  The Company may enter into a Rule 10(b)5-1 plan designed to facilitate the repurchase of all or a portion of the repurchase amount.  The program does not require the Company to acquire a specific number of shares.  Common stock repurchased can be reissued, and accordingly, the Company accounts for repurchased stock under the cost method of accounting.

We purchased the following shares of common stock in fiscal 2014 under the above described repurchase plan:

In Thousands, Except Shares Amounts	Shares		Amount
First quarter		-	$	-
Second quarter		-		-
Third quarter		45,979		5,176
Fourth quarter		223,249		25,086
Total		269,228	$	30,262

The components of Accumulated Other Comprehensive Loss:

In Thousands	2014			2013
Unrealized gain (loss) on derivative contracts	$	(14,179	)	$	(1,851	)
Tax effect		3,890			355
		(10,289	)		(1,496	)
Pension and post-retirement obligations		(90,225	)		(84,215	)
Tax effect		30,072			28,030
		(60,153	)		(56,185	)
Currency translation adjustment		(61,135	)		35,397
Accumulated other comprehensive loss	$	(131,577	)	$	(22,284	)