XML 46 R35.htm IDEA: XBRL DOCUMENT

PDMCX JOINT VENTURE (Tables)

6 Months Ended

Apr. 30, 2023

Net Income (Loss) Recorded from Operations

The following table presents net income we recorded from the operations of PDMCX during the reporting periods.

	Three Months Ended						Six Months Ended
	April 30, 2023			May 1, 2022			April 30, 2023		May 1, 2022
Net income from PDMCX		$	6,652		$	4,895	$	12,569	$	6,772

Carrying Amounts and Exposure to Loss Related to Assets and Liabilities

The following table presents the carrying amounts of PDMCX assets and liabilities included in our condensed consolidated balance sheets. General creditors of PDMCX do not have recourse to the assets of Photronics (other than the net assets of PDMCX); therefore, our maximum exposure to loss from PDMCX is our interest in the carrying amount of the net assets of the joint venture.

	April 30, 2023				October 31, 2022
Classification	Carrying Amount		Photronics Interest		Carrying Amount		Photronics Interest
Current assets	$	128,626	$	64,326	$	127,542	$	63,784
Noncurrent assets		145,471		72,750		119,392		59,708
Total assets		274,097		137,076		246,934		123,492

Current liabilities		50,925		25,468		51,274		25,643
Noncurrent liabilities		1,484		742		9,161		4,581
Total liabilities		52,409		26,210		60,435		30,224

Net assets	$	221,688	$	110,866	$	186,499	$	93,268

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

+ References + Details