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Notes Payable
12 Months Ended
Oct. 31, 2013
Debt Disclosure [Abstract]  
Notes Payable

Note 8 — Notes payable

Bank lines of credit and notes payable are summarized as follows:

 

     2013     2012  

Maximum borrowings under bank lines of credit:

    

Domestic banks

   $ —        $ 50,000   

Foreign banks

     83,191        40,260   
  

 

 

   

 

 

 

Total

   $ 83,191      $ 90,260   
  

 

 

   

 

 

 

Outstanding notes payable:

    

Domestic bank debt

   $ —        $ 50,000   

Foreign bank debt

     3,604        1   
  

 

 

   

 

 

 

Total

   $ 3,604      $ 50,001   
  

 

 

   

 

 

 

Weighted-average interest rate on notes payable

     2.0     1.1

Unused bank lines of credit

   $ 79,587      $ 40,259   
  

 

 

   

 

 

 

In 2012, we entered into a 364-day, $250,000 Credit Agreement with PNC Bank. We borrowed $250,000 under this agreement for acquisitions made in 2012 and then repaid $200,000 using proceed of the Senior Notes described in Note 9, leaving a balance of $50,000 outstanding at October 31, 2012. The remaining balance of this facility was repaid on June 3, 2013.