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Pay vs Performance Disclosure - USD ($)
 12 Months Ended
Oct. 31, 2024
Oct. 31, 2023
Oct. 31, 2022
Oct. 31, 2021
Pay vs Performance Disclosure        
Pay vs Performance Disclosure, Table
PAY VERSUS PERFORMANCE
 
 
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
(in thousands)
(i)(5)
  
 
Total
Shareholder
Return
(f)(3)
    
Peer Group
Total
Shareholder
Return
(g)(3)
  
   
2024
   $ 8,566,276     $ 11,019,933       $1,886,356       $2,246,884       $132.45       $168.55       $467,284       $696,000  
   
2023
   $ 7,058,392     $ 4,259,156       $2,300,758       $1,578,085       $113.14       $137.60       $487,493       $672,761  
   
2022
   $ 8,432,113     $ 7,615,111       $2,500,576       $2,326,383       $118.41       $128.69       $513,103       $702,360  
   
2021
   $ 10,308,750     $ 11,888,956       $3,091,051       $3,748,173       $132.51       $142.05       $454,368       $615,157  
 
(1)
Sundaram Nagarajan served as our principal executive officer (“PEO”) for the full year for each of fiscal 2024, 2023, 2022 and 2021. For fiscal 2024, our
non-PEO
named executive officers (“NEOs”) included Daniel C. Hopgood, Joseph P. Kelley, Stephen P. Lovass, Jennifer L. McDonough and Stephen F. Shamrock. For fiscal 2023, our
non-PEO
NEOs included Joseph P. Kelley, Jeffrey 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 2024, 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
  
2024
    
2023
    
2022
     
2021
  
   
Summary Compensation Table Total for PEO (column (b))
  
$
8,566,276
 
  
$
7,058,392
 
  
$
8,432,113
 
   
$
10,308,750
 
   
- aggregate change in actuarial present value of pension benefits
   $ 559,095     $ 443,516     $ 327,553      $ 239,445  
   
+ service cost of pension benefits
   $ 333,794     $ 323,038     $ 372,875      $ 414,386  
   
+ prior service cost of pension benefits
   $ —     $ —     $ —      $ 14,728  
   
- SCT “Stock Awards” column value
   $ 4,219,798     $ 3,110,106     $ 2,997,098      $ 5,830,079  
   
- SCT “Option Awards” column value
   $ 1,740,010     $ 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
   $ 6,764,399     $ 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
   $ 252,320     $ 813,409     $ 1,167,627      $ 2,449,803  
   
+ vesting date fair value of equity awards granted and vested in the covered year
   $ 374,810     $ 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
   $ 1,228,392     $ 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
   $ 18,845     $ 36,149     $ 7,885      $ —  
   
[+ excess fair value for equity award modifications]
   $ —     $ —     $ —      $ —  
   
Compensation Actually Paid to PEO (column (c))
  
$
11,019,933
 
  
$
4,259,156
 
  
$
7,615,111
 
   
$
11,888,956
 
         
AVERAGE FOR NON-PEO NEOS
  
2024
    
2023
    
2022
     
2021
  
   
Average SCT Total for
Non-PEO
NEOs (column (d))
  
$
1,886,356
 
  
$
2,300,758
 
  
$
2,500,576
 
   
$
3,091,051
 
   
- aggregate change in actuarial present value of pension benefits
   $ 72,785     $ (222,053)     $ 169,270      -$ 332,388  
   
+ service cost of pension benefits
   $ 34,085     $ 89,347     $ 86,118      $ 131,937  
   
+ prior service cost of pension benefits
   $ —     $ —     $ —      $ 4,608  
   
- SCT “Stock Awards” column value
   $ 760,083     $ 992,847     $ 784,400      $ 1,246,865  
   
- SCT “Option Awards” column value
   $ 331,812     $ 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
   $ 1,252,349     $ 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
   $ 61,536     $ 175,572     $ —      $ 895,006  
   
+ vesting date fair value of equity awards granted and vested in the covered year,
   $ 46,256     $ 109,324     $ 292,838      $ 0  
   
[+/-] year-over-year change in fair value of equity awards granted in prior years that vested in the covered year
   $ 128,454     $ 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
   $ —     $ —     $ —      $ 0  
   
+ dollar value of dividends/earnings paid on equity awards in the covered year
   $ 2,528     $ 11,795     $ 3,377      $ 795  
   
[+ excess fair value for equity award modifications]
   $ —     $ —     $ —      $ 0  
   
Average Compensation Actually Paid to
Non-PEO
NEOs (column (e))
  
$
2,246,884
 
  
$
1,578,085
 
  
$
2,326,383
 
   
$
3,748,173
 
 
 
The amounts deducted for aggregate change in actuarial present value of pension benefits for our
non-PEOs
in 2023, 2022 and 2021 represented the aggregate actuarial value of pension benefits instead of the yearly change in such figure, and therefore were overstated in the adjustments table of the pay versus performance disclosure in our previous proxy statement filing. These aggregate change in actuarial present value of pension benefits values have been updated in the adjustments table above and the average compensation actually paid to our
non-PEO
for those years has also been similarly updated to reflect these changes.
 
(3)
For each of fiscal 2024, 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 2024, 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 is calculated set forth as described in “Executive Compensation Discussion and Analysis” above.
     
Company Selected Measure Name Base Business Operating Profit      
Named Executive Officers, Footnote For fiscal 2024, our
non-PEO
named executive officers (“NEOs”) included Daniel C. Hopgood, Joseph P. Kelley, Stephen P. Lovass, Jennifer L. McDonough and Stephen F. Shamrock. For fiscal 2023, our
non-PEO
NEOs included Joseph P. Kelley, Jeffrey 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 purposes of this pay versus performance disclosure, our peer group is the
S&P MidCap 400 Ind. Machinery Index (the “Peer Group”). 		     
PEO Total Compensation Amount $ 8,566,276 $ 7,058,392 $ 8,432,113 $ 10,308,750
PEO Actually Paid Compensation Amount $ 11,019,933 4,259,156 7,615,111 11,888,956
Adjustment To PEO Compensation, Footnote
 
         
SUNDARAM NAGARAJAN
  
2024
    
2023
    
2022
     
2021
  
   
Summary Compensation Table Total for PEO (column (b))
  
$
8,566,276
 
  
$
7,058,392
 
  
$
8,432,113
 
   
$
10,308,750
 
   
- aggregate change in actuarial present value of pension benefits
   $ 559,095     $ 443,516     $ 327,553      $ 239,445  
   
+ service cost of pension benefits
   $ 333,794     $ 323,038     $ 372,875      $ 414,386  
   
+ prior service cost of pension benefits
   $ —     $ —     $ —      $ 14,728  
   
- SCT “Stock Awards” column value
   $ 4,219,798     $ 3,110,106     $ 2,997,098      $ 5,830,079  
   
- SCT “Option Awards” column value
   $ 1,740,010     $ 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
   $ 6,764,399     $ 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
   $ 252,320     $ 813,409     $ 1,167,627      $ 2,449,803  
   
+ vesting date fair value of equity awards granted and vested in the covered year
   $ 374,810     $ 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
   $ 1,228,392     $ 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
   $ 18,845     $ 36,149     $ 7,885      $ —  
   
[+ excess fair value for equity award modifications]
   $ —     $ —     $ —      $ —  
   
Compensation Actually Paid to PEO (column (c))
  
$
11,019,933
 
  
$
4,259,156
 
  
$
7,615,111
 
   
$
11,888,956
 
      
Non-PEO NEO Average Total Compensation Amount $ 1,886,356 2,300,758 2,500,576 3,091,051
Non-PEO NEO Average Compensation Actually Paid Amount $ 2,246,884 1,578,085 2,326,383 3,748,173
Adjustment to Non-PEO NEO Compensation Footnote
         
AVERAGE FOR NON-PEO NEOS
  
2024
    
2023
    
2022
     
2021
  
   
Average SCT Total for
Non-PEO
NEOs (column (d))
  
$
1,886,356
 
  
$
2,300,758
 
  
$
2,500,576
 
   
$
3,091,051
 
   
- aggregate change in actuarial present value of pension benefits
   $ 72,785     $ (222,053)     $ 169,270      -$ 332,388  
   
+ service cost of pension benefits
   $ 34,085     $ 89,347     $ 86,118      $ 131,937  
   
+ prior service cost of pension benefits
   $ —     $ —     $ —      $ 4,608  
   
- SCT “Stock Awards” column value
   $ 760,083     $ 992,847     $ 784,400      $ 1,246,865  
   
- SCT “Option Awards” column value
   $ 331,812     $ 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
   $ 1,252,349     $ 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
   $ 61,536     $ 175,572     $ —      $ 895,006  
   
+ vesting date fair value of equity awards granted and vested in the covered year,
   $ 46,256     $ 109,324     $ 292,838      $ 0  
   
[+/-] year-over-year change in fair value of equity awards granted in prior years that vested in the covered year
   $ 128,454     $ 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
   $ —     $ —     $ —      $ 0  
   
+ dollar value of dividends/earnings paid on equity awards in the covered year
   $ 2,528     $ 11,795     $ 3,377      $ 795  
   
[+ excess fair value for equity award modifications]
   $ —     $ —     $ —      $ 0  
   
Average Compensation Actually Paid to
Non-PEO
NEOs (column (e))
  
$
2,246,884
 
  
$
1,578,085
 
  
$
2,326,383
 
   
$
3,748,173
 
      
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 2024 to our performance:
 
EPS Growth
ROIC
EBITDA Margin
Organic Revenue
Base Business Operating Profit
      
Total Shareholder Return Amount $ 132.45 113.14 118.41 132.51
Peer Group Total Shareholder Return Amount 168.55 137.6 128.69 142.05
Net Income (Loss) $ 467,284,000 $ 487,493,000 $ 513,103,000 $ 454,368,000
Company Selected Measure Amount 696,000,000 672,761,000 702,360,000 615,157,000
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      
Measure:: 5        
Pay vs Performance Disclosure        
Name Base Business Operating Profit      
PEO | Aggregate Change In Actuarial Present Value Of Pension Benefits [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount $ (559,095) $ (443,516) $ (327,553) $ (239,445)
PEO | Service Cost Of Pension Benefits [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 333,794 323,038 372,875 414,386
PEO | Prior Service Cost Of Pension Benefits [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 0 0 0 14,728
PEO | Sct Stock Awards Column Value [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (4,219,798) (3,110,106) (2,997,098) (5,830,079)
PEO | Sct Option Awards Column Value [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (1,740,010) (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 6,764,399 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 252,320 813,409 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 374,810 713,027 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 1,228,392 (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 0
PEO | Dollar Value Of DividendsEarnings Paid On Equity Awards In The Covered Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 18,845 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 0
Non-PEO NEO | Aggregate Change In Actuarial Present Value Of Pension Benefits [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (72,785) (222,053) (169,270) (332,388)
Non-PEO NEO | Service Cost Of Pension Benefits [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 34,085 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 0 4,608
Non-PEO NEO | Sct Stock Awards Column Value [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (760,083) (992,847) (784,400) (1,246,865)
Non-PEO NEO | Sct Option Awards Column Value [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (331,812) (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 1,252,349 854,453 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 61,536 175,572 0 895,006
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 46,256 109,324 292,838 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 128,454 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 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 2,528 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 $ 0