SUBSEQUENT EVENTS

12 Months Ended

Oct. 31, 2017

Subsequent Events [Abstract]

SUBSEQUENT EVENTS

Tax Reform

On December 22, 2017, "An Act to provide for reconciliation pursuant to titles II and V of the concurrent resolution on the budget for fiscal year 2018," ("The Act"), was signed into law by President Trump and is expected to impact the company’s operating results, cash flows, and financial condition. The company is currently evaluating the potential impacts of The Act. The Act includes a number of provisions, including the lowering of the U.S. corporate tax rate from 35 percent to 21 percent, effective January 1, 2018. The Act also includes provisions that may partially offset the benefit of such rate reduction, including the repeal of the deduction for domestic production activities. The effect of the international provisions of The Act, which generally establish a territorial-style system for taxing foreign-source income of domestic multinational corporations, is uncertain. As a result of The Act, the company expects there will be one-time adjustments for the re-measurement of deferred tax assets (liabilities) and the deemed repatriation tax on unremitted foreign earnings and profits. Quantifying the impacts of The Act is not practicable at this time due, among other things, to the inherent complexities involved. Accordingly, the company expects to continue to analyze such impacts and record any such amounts in the first quarter of fiscal 2018.

The company has evaluated all subsequent events and concluded that no additional subsequent events have occurred that would require recognition in the Consolidated Financial Statements or disclosure in the Notes to the Consolidated Financial Statements.