Accumulated Other Comprehensive Income (Loss)

6 Months Ended

Apr. 30, 2016

Statement of Comprehensive Income [Abstract]

Accumulated Other Comprehensive Income

Accumulated Other Comprehensive Income (Loss)

The following table provides the changes in accumulated other comprehensive income (loss) (OCI) by component and the related tax effects during the first six months of fiscal 2016.

	Foreign currency translation adjustment			Unrealized holding gains on available for sale securities classified as short-term investments			Unrealized holding (losses) on available for sale securities classified as short-term investments			Unrealized holding gains (losses) on derivatives			Pension plans			Total
October 31, 2015	$	(18,057	)	$	216		$	(544	)	$	(17,692	)	$	(14,774	)	$	(50,851	)
Other comprehensive income (loss) before reclassifications	(64		)	139			433			3,931			111			4,550
Amounts reclassified out of other comprehensive income (loss)	—			—			—			3,507			351			3,858
Tax effects	—			(13		)	(29		)	(1,138		)	(102		)	(1,282		)
Other comprehensive income (loss)	(64		)	126			404			6,300			360			7,126
April 30, 2016	$	(18,121	)	$	342		$	(140	)	$	(11,392	)	$	(14,414	)	$	(43,725	)

The amounts reclassified out of accumulated other comprehensive income (loss) with presentation location during each period were as follows:

	Three Months Ended						Six Months Ended
Comprehensive Income Component	April 30, 2016			May 2, 2015			April 30, 2016			May 2, 2015			Location
Unrealized holding losses (gains) on derivatives
Currency forwards	$	147		$	2,980		$	1,626		$	5,342		Cost of sales
	27			1,841			690			3,236			Research and development
	(448		)	2,803			346			5,293			Selling, marketing, general and administrative
	—			—			—			(1,466		)	(a)
Treasury rate lock	(274		)	(274		)	(548		)	(548		)	Interest expense
Swap rate lock	836			—			1,393			—			Interest expense
	288			7,350			3,507			11,857			Total before tax
	(243		)	(851		)	(753		)	(1,397		)	Tax
	$	45		$	6,499		$	2,754		$	10,460		Net of tax
Amortization of pension components
Transition obligation	$	4		$	5		$	8		$	10		(b)
Prior service credit	—			(62		)	—			(124		)	(b)
Actuarial losses	176			1,924			343			3,862			(b)
	180			1,867			351			3,748			Total before tax
	(52		)	(281		)	(102		)	(563		)	Tax
	$	128		$	1,586		$	249		$	3,185		Net of tax
Total amounts reclassified out of accumulated other comprehensive income (loss), net of tax	$	173		$	8,085		$	3,003		$	13,645

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a) The gain related to a fixed asset purchase was reclassified out of accumulated other comprehensive income (loss) to fixed assets which will depreciate into earnings over its expected useful life.

b) The amortization of pension components is included in the computation of net periodic pension cost. For further information see Note 13, Retirement Plans, contained in Item 8 of the Annual Report on Form 10-K for the fiscal year ended October 31, 2015.

The Company estimates $3.8 million of forward foreign currency derivative instruments included in OCI will be reclassified into earnings within the next twelve months. There was no ineffectiveness related to designated forward foreign currency derivative instruments in the three- and six-month periods ended April 30, 2016 and May 2, 2015.

Gross unrealized gains and losses on available-for-sale securities classified as short-term investments at April 30, 2016 and October 31, 2015 are as follows:

	April 30, 2016			October 31, 2015
Unrealized gains on securities classified as short-term investments	$	371		$	233
Unrealized losses on securities classified as short-term investments	(150		)	(584		)
Net unrealized losses on securities classified as short-term investments	$	221		$	(351	)

As of April 30, 2016, the Company held 81 investment securities, 27 of which were in an unrealized loss position with gross unrealized losses of $0.1 million and an aggregate fair value of $1.1 billion. As of October 31, 2015, the Company held 76 investment securities, 23 of which were in an unrealized loss position with gross unrealized losses of $0.6 million and an aggregate fair value of $823.4 million. These unrealized losses were primarily related to corporate obligations that earn lower interest rates than current market rates. None of these investments have been in a loss position for more than twelve months. As the Company does not intend to sell these investments and it is unlikely that the Company will be required to sell the investments before recovery of their amortized basis, which will be at maturity, the Company does not consider those investments to be other-than-temporarily impaired at April 30, 2016 and October 31, 2015.

Realized gains or losses on investments are determined based on the specific identification basis and are recognized in nonoperating expense (income). There were no material net realized gains or losses from the sales of available-for-sale investments during any of the fiscal periods presented.