COMMITMENTS AND CONTINGENCIES

12 Months Ended

Oct. 31, 2020

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies Disclosure [Text Block]

COMMITMENTS AND CONTINGENCIES

Guarantees

    As of October 31, 2020, the Company has arranged for standby letters of credit aggregating $14.6 million, which are supported by its revolving credit facility and principally pertain to performance guarantees related to customer contracts entered into by certain of the Company's subsidiaries as well as payment guarantees related to potential workers' compensation claims and a facility lease.

Product Warranty

    Changes in the Company’s product warranty liability in fiscal 2020 and 2019 are as follows (in thousands):

	Year ended October 31,
	2020	2019
Balances as of beginning of year	$2,810	$3,306
Accruals for warranties	1,749	2,061
Acquired warranty liabilities	150	—
Warranty claims settled	(1,694)	(2,557)
Balances as of end of year	$3,015	$2,810

Litigation

The Company is involved in various legal actions arising in the normal course of business.  Based upon the Company’s and its legal counsel’s evaluations of any claims or assessments, management is of the opinion that the outcome of these matters will not have a material adverse effect on the Company’s results of operations, financial position or cash flows.