COMMITMENTS AND CONTINGENCIES

12 Months Ended

Oct. 31, 2019

COMMITMENTS AND CONTINGENCIES [Abstract]

COMMITMENTS AND CONTINGENCIES

NOTE 13 - COMMITMENTS AND CONTINGENCIES

As of October 31, 2019, we had outstanding purchase commitments of $130.3 million, $111.8 million of which was for capital equipment. Included in the latter amount is $30.8 million which we intend to finance under a capital lease. As discussed in Note 6, we’ve been approved for a lease to finance the purchase of a high-end lithography tool under an agreement entered into in fiscal 2019. See Note 8 for information on our operating lease commitments.

As of October 31, 2019, we had recorded liabilities for the purchase of equipment of $17.2 million.

We are subject to various claims that arise in the ordinary course of business. We believe such claims, individually and in the aggregate, will not have a material effect on our consolidated financial statements.