Auction Rate Securities

12 Months Ended

Oct. 31, 2019

Investments, Debt and Equity Securities [Abstract]

Auction Rate Securities

AUCTION RATE SECURITIES

At October 31, 2019 and 2018, we held an investment in one auction rate security that had an aggregate original principal amount, amortized cost, and fair value of $5.0 million. This auction rate security is a debt instrument with a stated maturity in 2050. The interest rate for this security is designed to be reset through Dutch auctions approximately every thirty days; however, auctions for this security have not occurred since August 2007.

At October 31, 2019 and 2018, there were no unrealized gains or losses on our auction rate security included in AOCI.

Significant Assumptions Used to Determine the Fair Value of Our Auction Rate Security

Assumption	October 31, 2019	October 31, 2018
Discount rates	L + 0.34%	L + 0.37%
Yields	L + 2.00%	L + 2.00%
Average expected lives	4 years	4 years

L – One Month LIBOR