Marketable Securities

9 Months Ended

Jul. 31, 2014

Marketable Securities [Abstract]

Marketable Securities

Marketable Securities

We have marketable securities that are invested in money market and mutual funds that are liquid and actively traded on the exchanges. These securities are assets that are held in rabbi trusts established for our deferred compensation plans. For further information on the deferred compensation plans, see Note 10 to the condensed consolidated financial statements in this Form 10-Q.

We have classified these marketable securities as trading securities since their inception as the assets are held in rabbi trusts. Trading securities are recorded at fair value on the Condensed Consolidated Balance Sheets with any gains or losses recognized currently in earnings. We do not intend to engage in active trading of the securities, and participants in the deferred compensation plans may redirect their investments at any time. We have matched the current portion of the deferred compensation liability with the current asset and the noncurrent deferred compensation liability with the noncurrent asset; the current asset portion is included in “Other current assets” in “Current Assets” in the Condensed Consolidated Balance Sheets.

The money market investments in the trust approximate fair value due to the short period of time to maturity. The fair values of the equity securities are based on quoted market prices as traded on the exchanges. The composition of these securities as of July 31, 2014 and October 31, 2013 is as follows.

	July 31, 2014				October 31, 2013
In thousands	Cost		Fair Value		Cost		Fair Value
Current trading securities:
Money markets	$	22	$	22	$	—	$	—
Mutual funds	172		286		134		199
Total current trading securities	194		308		134		199
Noncurrent trading securities:
Money markets	452		452		380		380
Mutual funds	2,574		3,190		1,995		2,615
Total noncurrent trading securities	3,026		3,642		2,375		2,995
Total trading securities	$	3,220	$	3,950	$	2,509	$	3,194