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Pay vs Performance Disclosure
 12 Months Ended
Oct. 31, 2023
USD ($)
Oct. 31, 2022
USD ($)
Oct. 31, 2021
USD ($)
Pay vs Performance Disclosure      
Pay vs Performance Disclosure, Table
 
PAY VERSUS PERFORMANCE
   
Fiscal
Year
(a)
  
Summary
Compensation
Table Total for
PEO
(b)
    
Compensation
Actually Paid
to PEO
(c)(1)(2)
    
Average
Summary
Compensation
Table Total for
Non-PEO

Named
Executive
Officers
(d)
    
Average
Compensation
Actually Paid
to
Non-PEO

Named
Executive
Officers
(e)(1)(2)
    
Value of Initial
Fixed $100 Investment
Based On:
    
Net Income
(in thousands)
(h)(4)
    
Base
Business
    Operating    
Profit
Growth
(i)(5)
  
 
Total
Shareholder
Return
(f)(3)
    
Peer Group
Total
Shareholder
Return
(g)(3)
  
   
2023
   $ 6,981,645     $ 3,332,104     $ 2,300,758     $ 72,661     $ 113.14     $ 137.60     $ 487,493       (3 )% 
   
2022
   $ 8,432,113     $ 7,015,612     $ 2,500,576     $ 1,683,456     $ 118.41     $ 128.69     $ 513,103       13 % 
   
2021
   $ 10,308,750     $ 11,919,691     $ 3,091,051     $ 2,028,682     $ 132.51     $ 142.05     $ 454,368       34 % 
 
(1)
Sundaram Nagarajan served as our principal executive officer (“PEO”) for the full year for each of fiscal 2023, 2022 and 2021. For fiscal 2023, our
non-PEO
named executive officers (“NEOs”) included Joseph P. Kelley, Jeffrey A. Pembroke, Stephen P. Lovass, and James E. DeVries. For fiscal 2022, our
non-PEO
NEOs included
Joseph P. Kelley, Jeffrey A. Pembroke, Stephen P. Lovass and Jennifer L. McDonough. For fiscal 2021, our
non-PEO
NEOs included Joseph P. Kelley, Gregory P. Merk, Jeffrey A. Pembroke and Stephen P. Lovass.
 
(2)
For each of fiscal 2023, 2022 and 2021, the values included in this column for the compensation actually paid to our PEO and the average compensation actually paid to our
non-PEO
NEOs reflect the following adjustments to the values included in column (b) and column (d), respectively:
 
       
SUNDARAM NAGARAJAN
   
2023
     
2022
     
2021
  
   
Summary Compensation Table Total for PEO (column (b))
   
$
6,981,645
 
   
$
8,432,113
 
   
$
10,308,750
 
   
- aggregate change in actuarial present value of pension benefits
    -$ 1,370,568      -$ 927,052      -$ 599,499  
   
+ service cost of pension benefits
    $ 323,038      $ 372,875      $ 414,386  
   
+ prior service cost of pension benefits
    $ —      $ —      $ 14,728  
   
- SCT “Stock Awards” column value
    $ 3,110,106      $ 2,997,098      $ 5,830,079  
   
- SCT “Option Awards” column value
    $ 2,012,792      $ 2,475,660      $ 1,970,346  
   
+
year-end
fair value of equity awards granted in the covered year that are outstanding and unvested as of the covered
year-end
    $ 2,488,293      $ 4,375,965      $ 7,643,426  
   
[+/-] year-over-year change in fair value of equity awards granted in prior years that are outstanding and unvested as of the covered
year-end
    -$ 813,409      -$ 1,167,627      $ 2,449,803  
   
+ vesting date fair value of equity awards granted and vested in the covered year
    $ 713,027      $ 1,370,250      $ —  
   
[+/-] year-over-year change in fair value of equity awards granted in prior years that vested in the covered year
    $ 96,827      $ 23,961      -$ 902,267  
   
- fair value as of prior-year end of equity awards granted in prior years that failed to vest in the covered year
    $ —      $ —      $ —  
   
+ dollar value of dividends/earnings paid on equity awards in the covered year
    $ 36,149      $ 7,885      $ —  
   
[+ excess fair value for equity award modifications]
    $ —      $ —      $ —  
   
Compensation Actually Paid to PEO (column (c))
   
$
3,332,104
 
   
$
7,015,612
 
   
$
11,919,691
 
 
       
      AVERAGE FOR
NON-PEO
NEOS
   
2023
     
2022
     
2021
  
   
Average SCT Total for
Non-PEO
NEOs (column (d))
   
$
2,300,758
 
   
$
2,500,576
 
   
$
3,091,051
 
   
- aggregate change in actuarial present value of pension benefits
    -$ 1,727,477      -$ 642,927      -$ 2,051,879  
   
+ service cost of pension benefits
    $ 89,347      $ 86,118      $ 131,937  
   
+ prior service cost of pension benefits
    $ —      $ —      $ 4,608  
   
- SCT “Stock Awards” column value
    $ 992,847      $ 784,400      $ 1,246,865  
   
- SCT “Option Awards” column value
    $ 447,847      $ 518,945      $ 418,909  
   
+
year-end
fair value of equity awards granted in the covered year that are outstanding and unvested as of the covered
year-end
    $ 854,453      $ 1,048,192      $ 1,778,869  
   
[+/-] year-over-year change in fair value of equity awards granted in prior years that are outstanding and unvested as of the covered
year-end
    -$ 175,572      -$ 229,852      $ 895,006  
   
+ vesting date fair value of equity awards granted and vested in the covered year,
    $ 109,324      $ 292,838      $ —  
   
[+/-] year-over-year change in fair value of equity awards granted in prior years that vested in the covered year
    $ 50,727      -$ 71,519      -$ 155,932  
   
- fair value as of prior-year end of equity awards granted in prior years that failed to vest in the covered year
    $ —      $ —      $ —  
   
+ dollar value of dividends/earnings paid on equity awards in the covered year
    $ 11,795      $ 3,377      $ 795  
   
[+ excess fair value for equity award modifications]
    $ —      $ —      $ —  
   
Average Compensation Actually Paid to
Non-PEO
NEOs
(column (e))
   
$
72,661
 
   
$
1,683,456
 
   
$
2,028,682
 
 
(3)
For each of fiscal 2023, 2022 and 2021, total shareholder return for the Company and the peer group was calculated as the yearly percentage change in cumulative total shareholder return based on a deemed fixed investment of $100 at market close on October 31, 2020. The yearly percentage change in cumulative total shareholder return was measured as the quotient of (a) the sum of (i) the cumulative amount of dividends for the period from October 31, 2020 through and including the last day of the covered fiscal year (the “Measurement Period”), assuming dividend reinvestment, plus (ii) the difference between stock price per share at the end and the beginning of the Measurement Period, divided by (b) stock price per share at the beginning of the Measurement Period. Each of these yearly percentage changes was then applied to a deemed fixed investment of $100 at the beginning of the Measurement Period to produce the
year-end
values of such investment as of the end of fiscal 2023, 2022 and 2021, as applicable. For purposes of this pay versus performance disclosure, our peer group is the
S&P MidCap 400 Ind. Machinery Index (the “Peer Group”).
Because fiscal years are presented in the table in reverse chronological order (from top to bottom), the table should be read from bottom to top for purposes of understanding cumulative returns over time.
 
(4)
Net income is calculated in accordance with GAAP.
 
(5)
The Company-selected measure of Base Business Operating Profit Growth is calculated set forth as described in “Executive Compensation Discussion and Analysis” above.
   
Company Selected Measure Name Base Business Operating Profit Growth    
Named Executive Officers, Footnote For fiscal 2023, our
non-PEO
named executive officers (“NEOs”) included Joseph P. Kelley, Jeffrey A. Pembroke, Stephen P. Lovass, and James E. DeVries. For fiscal 2022, our
non-PEO
NEOs included
Joseph P. Kelley, Jeffrey A. Pembroke, Stephen P. Lovass and Jennifer L. McDonough. For fiscal 2021, our
non-PEO
NEOs included Joseph P. Kelley, Gregory P. Merk, Jeffrey A. Pembroke and Stephen P. Lovass. 		   
Peer Group Issuers, Footnote For each of fiscal 2023, 2022 and 2021, total shareholder return for the Company and the peer group was calculated as the yearly percentage change in cumulative total shareholder return based on a deemed fixed investment of $100 at market close on October 31, 2020. The yearly percentage change in cumulative total shareholder return was measured as the quotient of (a) the sum of (i) the cumulative amount of dividends for the period from October 31, 2020 through and including the last day of the covered fiscal year (the “Measurement Period”), assuming dividend reinvestment, plus (ii) the difference between stock price per share at the end and the beginning of the Measurement Period, divided by (b) stock price per share at the beginning of the Measurement Period. Each of these yearly percentage changes was then applied to a deemed fixed investment of $100 at the beginning of the Measurement Period to produce the
year-end
values of such investment as of the end of fiscal 2023, 2022 and 2021, as applicable. For purposes of this pay versus performance disclosure, our peer group is the
S&P MidCap 400 Ind. Machinery Index (the “Peer Group”).
Because fiscal years are presented in the table in reverse chronological order (from top to bottom), the table should be read from bottom to top for purposes of understanding cumulative returns over time. 		   
PEO Total Compensation Amount $ 6,981,645 $ 8,432,113 $ 10,308,750
PEO Actually Paid Compensation Amount $ 3,332,104 7,015,612 11,919,691
Adjustment To PEO Compensation, Footnote
       
SUNDARAM NAGARAJAN
   
2023
     
2022
     
2021
  
   
Summary Compensation Table Total for PEO (column (b))
   
$
6,981,645
 
   
$
8,432,113
 
   
$
10,308,750
 
   
- aggregate change in actuarial present value of pension benefits
    -$ 1,370,568      -$ 927,052      -$ 599,499  
   
+ service cost of pension benefits
    $ 323,038      $ 372,875      $ 414,386  
   
+ prior service cost of pension benefits
    $ —      $ —      $ 14,728  
   
- SCT “Stock Awards” column value
    $ 3,110,106      $ 2,997,098      $ 5,830,079  
   
- SCT “Option Awards” column value
    $ 2,012,792      $ 2,475,660      $ 1,970,346  
   
+
year-end
fair value of equity awards granted in the covered year that are outstanding and unvested as of the covered
year-end
    $ 2,488,293      $ 4,375,965      $ 7,643,426  
   
[+/-] year-over-year change in fair value of equity awards granted in prior years that are outstanding and unvested as of the covered
year-end
    -$ 813,409      -$ 1,167,627      $ 2,449,803  
   
+ vesting date fair value of equity awards granted and vested in the covered year
    $ 713,027      $ 1,370,250      $ —  
   
[+/-] year-over-year change in fair value of equity awards granted in prior years that vested in the covered year
    $ 96,827      $ 23,961      -$ 902,267  
   
- fair value as of prior-year end of equity awards granted in prior years that failed to vest in the covered year
    $ —      $ —      $ —  
   
+ dollar value of dividends/earnings paid on equity awards in the covered year
    $ 36,149      $ 7,885      $ —  
   
[+ excess fair value for equity award modifications]
    $ —      $ —      $ —  
   
Compensation Actually Paid to PEO (column (c))
   
$
3,332,104
 
   
$
7,015,612
 
   
$
11,919,691
 
    
Non-PEO NEO Average Total Compensation Amount $ 2,300,758 2,500,576 3,091,051
Non-PEO NEO Average Compensation Actually Paid Amount $ 72,661 1,683,456 2,028,682
Adjustment to Non-PEO NEO Compensation Footnote
       
      AVERAGE FOR
NON-PEO
NEOS
   
2023
     
2022
     
2021
  
   
Average SCT Total for
Non-PEO
NEOs (column (d))
   
$
2,300,758
 
   
$
2,500,576
 
   
$
3,091,051
 
   
- aggregate change in actuarial present value of pension benefits
    -$ 1,727,477      -$ 642,927      -$ 2,051,879  
   
+ service cost of pension benefits
    $ 89,347      $ 86,118      $ 131,937  
   
+ prior service cost of pension benefits
    $ —      $ —      $ 4,608  
   
- SCT “Stock Awards” column value
    $ 992,847      $ 784,400      $ 1,246,865  
   
- SCT “Option Awards” column value
    $ 447,847      $ 518,945      $ 418,909  
   
+
year-end
fair value of equity awards granted in the covered year that are outstanding and unvested as of the covered
year-end
    $ 854,453      $ 1,048,192      $ 1,778,869  
   
[+/-] year-over-year change in fair value of equity awards granted in prior years that are outstanding and unvested as of the covered
year-end
    -$ 175,572      -$ 229,852      $ 895,006  
   
+ vesting date fair value of equity awards granted and vested in the covered year,
    $ 109,324      $ 292,838      $ —  
   
[+/-] year-over-year change in fair value of equity awards granted in prior years that vested in the covered year
    $ 50,727      -$ 71,519      -$ 155,932  
   
- fair value as of prior-year end of equity awards granted in prior years that failed to vest in the covered year
    $ —      $ —      $ —  
   
+ dollar value of dividends/earnings paid on equity awards in the covered year
    $ 11,795      $ 3,377      $ 795  
   
[+ excess fair value for equity award modifications]
    $ —      $ —      $ —  
   
Average Compensation Actually Paid to
Non-PEO
NEOs
(column (e))
   
$
72,661
 
   
$
1,683,456
 
   
$
2,028,682
 
    
Compensation Actually Paid vs. Total Shareholder Return
 
 
LOGO
 
    
Compensation Actually Paid vs. Net Income
LOGO
 
    
Compensation Actually Paid vs. Company Selected Measure
LOGO
   
Total Shareholder Return Vs Peer Group
 
 
LOGO
   
Tabular List, Table
Tabular List
The following table lists the five financial performance measures (as defined and described in Executive Compensation Discussion and Analysis above) that we believe represent the most important financial performance measures we use to link compensation actually paid to our NEOs for fiscal 2023 to our performance:
 
EPS Growth
ROIC
EBITDA Margin
Organic Revenue Growth
Base Business Operating Profit Growth
    
Total Shareholder Return Amount $ 113.14 118.41 132.51
Peer Group Total Shareholder Return Amount 137.6 128.69 142.05
Net Income (Loss) $ 487,493,000 $ 513,103,000 $ 454,368,000
Company Selected Measure Amount (3) 13 34
PEO Name Sundaram Nagarajan    
Measure:: 1      
Pay vs Performance Disclosure      
Name EPS Growth    
Measure:: 2      
Pay vs Performance Disclosure      
Name ROIC    
Measure:: 3      
Pay vs Performance Disclosure      
Name EBITDA Margin    
Measure:: 4      
Pay vs Performance Disclosure      
Name Organic Revenue Growth    
Measure:: 5      
Pay vs Performance Disclosure      
Name Base Business Operating Profit Growth    
PEO | Aggregate Change In Actuarial Present Value Of Pension Benefits [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount $ (1,370,568) $ (927,052) $ (599,499)
PEO | Service Cost Of Pension Benefits [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 323,038 372,875 414,386
PEO | Prior Service Cost Of Pension Benefits [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 0 0 14,728
PEO | Sct Stock Awards Column Value [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 3,110,106 2,997,098 5,830,079
PEO | Sct Option Awards Column Value [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 2,012,792 2,475,660 1,970,346
PEO | YearEnd Fair Value Of Equity Awards Granted In The Covered Year That Are Outstanding And Unvested As Of The Covered YearEnd [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 2,488,293 4,375,965 7,643,426
PEO | YearOverYear Change In Fair Value Of Equity Awards Granted In Prior Years That Are Outstanding And Unvested As Of The Covered YearEnd [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount (813,409) 1,167,627 2,449,803
PEO | Vesting Date Fair Value Of Equity Awards Granted And Vested In The Covered Year [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 713,027 1,370,250 0
PEO | YearOverYear Change In Fair Value Of Equity Awards Granted In Prior Years That Vested In The Covered Year [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 96,827 23,961 (902,267)
PEO | Fair Value As Of PriorYear End Of Equity Awards Granted In Prior Years That Failed To Vest In The Covered Year [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 0 0 0
PEO | Dollar Value Of DividendsEarnings Paid On Equity Awards In The Covered Year [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 36,149 7,885 0
PEO | Excess Fair Value For Equity Award Modifications [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 0 0 0
Non-PEO NEO | Aggregate Change In Actuarial Present Value Of Pension Benefits [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount (1,727,477) (642,927) (2,051,879)
Non-PEO NEO | Service Cost Of Pension Benefits [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 89,347 86,118 131,937
Non-PEO NEO | Prior Service Cost Of Pension Benefits [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 0 0 4,608
Non-PEO NEO | Sct Stock Awards Column Value [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 992,847 784,400 1,246,865
Non-PEO NEO | Sct Option Awards Column Value [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 447,847 518,945 418,909
Non-PEO NEO | YearEnd Fair Value Of Equity Awards Granted In The Covered Year That Are Outstanding And Unvested As Of The Covered YearEnd [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 854,453 1,048,192 1,778,869
Non-PEO NEO | YearOverYear Change In Fair Value Of Equity Awards Granted In Prior Years That Are Outstanding And Unvested As Of The Covered YearEnd [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount (175,572) (229,852) 895,006
Non-PEO NEO | Vesting Date Fair Value Of Equity Awards Granted And Vested In The Covered Year [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 109,324 292,838 0
Non-PEO NEO | YearOverYear Change In Fair Value Of Equity Awards Granted In Prior Years That Vested In The Covered Year [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 50,727 71,519 (155,932)
Non-PEO NEO | Fair Value As Of PriorYear End Of Equity Awards Granted In Prior Years That Failed To Vest In The Covered Year [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 0 0 0
Non-PEO NEO | Dollar Value Of DividendsEarnings Paid On Equity Awards In The Covered Year [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 11,795 3,377 795
Non-PEO NEO | Excess Fair Value For Equity Award Modifications [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount $ 0 $ 0 $ 0