REDEEMABLE NONCONTROLLING INTERESTS

12 Months Ended

Oct. 31, 2019

Temporary Equity Disclosure [Abstract]

Temporary Equity Redeemable Noncontrolling Interests [Text Block]

REDEEMABLE NONCONTROLLING INTERESTS

The holders of equity interests in certain of the Company’s subsidiaries have rights (“Put Rights”) that may be exercised on varying dates causing the Company to purchase their equity interests through fiscal 2029. The Put Rights, all of which relate either to common shares or membership interests in limited liability companies, provide that the cash consideration to be paid for their equity interests (the “Redemption Amount”) be at fair value or at a formula that management intended to reasonably approximate fair value based solely on a multiple of future earnings over a measurement period. The Redemption Amounts were determined using probability-adjusted internal estimates of future subsidiary earnings while considering the earliest exercise date, the measurement period and any applicable fair value adjustments. Management's estimate of the aggregate Redemption Amount of all Put Rights that the Company could be required to pay is as follows (in thousands):



	As of October 31,
	2019		2018
Redeemable at fair value		$136,611		$83,524
Redeemable based on a multiple of future earnings	51,653		48,522
Redeemable noncontrolling interests		$188,264		$132,046

A summary of the Put Rights associated with the redeemable noncontrolling interests in certain of the Company’s subsidiaries as of October 31, 2019 is as follows:



Subsidiary Acquisition Year	Operating Segment	Company Ownership Interest	Earliest Put Right Year	Purchase Period (Years)
2005	ETG	95.9%	2020 ⁽¹⁾	4 ⁽²⁾
2006	FSG	80.1%	2020 ⁽¹⁾	4
2008	FSG	82.3%	2020 ⁽¹⁾	5
2009	ETG	82.5%	2020 ⁽¹⁾	1
2012	ETG	78.0%	2020 ⁽¹⁾	2
2012	FSG	84.0%	2020 ⁽¹⁾	4
2012	FSG	80.1%	2020 ⁽¹⁾	4
2015	FSG	80.0%	2020 ⁽¹⁾	4
2015	FSG	80.1%	2020	4
2015	ETG	80.1%	2020	2
2015	FSG	80.1%	2022	4
2017	FSG	80.1%	2022	2 ⁽³⁾
2018	ETG	85.0%	2021	1
2019	ETG	92.7%	2023	4
2019	ETG	85.0%	2024	4
2019	FSG	80.1%	2026	4
2019	ETG	75.0%	2024	4


⁽¹⁾Currently puttable
⁽²⁾A portion is to be purchased in a lump sum
⁽³⁾ The second purchase is to be made two years after the first Put Right Year

The estimated aggregate Redemption Amount of the Put Rights that are currently puttable or becoming puttable during fiscal 2020 is approximately $106.7 million, of which approximately $47.8 million would be payable in fiscal 2020 should all of the eligible associated noncontrolling interest holders elect to exercise their Put Rights during fiscal 2020. Additionally, the Company has call rights to purchase the equity interests of the noncontrolling holders over the same purchase period as the Put Rights.