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OTHER RELATED PARTY TRANSACTIONS
12 Months Ended
Nov. 01, 2015
OTHER RELATED PARTY TRANSACTIONS [Abstract]  
OTHER RELATED PARTY TRANSACTIONS
NOTE 18 - OTHER RELATED PARTY TRANSACTIONS

The executive chairman of the board of the Company is also a director of a company that provides secure managed information technology services to Photronics. Another director of the Company is also a shareholder, chief executive officer and chairman of the board of this company. Since 2002, the Company has entered into various service contracts with this company to provide services to all of the Company's worldwide facilities. The Company incurred expenses for services provided by this company of $1.0 million, $1.2 million, and $1.7 million in fiscal years 2015, 2014 and 2013, respectively, and had an outstanding balance of less than $0.1 million due to this company as of November 1, 2015 and $0.1 million as of November 2, 2014. As of November 1, 2015, the Company had contracted with this company for various services through June 2016 at a cost of $0.2 million.

The Company purchases photomask blanks from a company of which an officer of the Company is a significant shareholder. The Company purchased $20.2 million, $20.1 million and $20.0 million of photomask blanks from this company in 2015, 2014 and 2013, respectively, for which the amount owed to this company was $4.5 million at November 1, 2015, and $4.4 million at November 2, 2014.

The Company believes that the terms of its transactions with the related parties described above were negotiated at arm's length and were no less favorable to the Company than terms it could have obtained from unrelated third parties. See Note 5 for other related party transactions.