CASH, CASH EQUIVALENTS AND INVESTMENTS

3 Months Ended

Feb. 02, 2025

CASH, CASH EQUIVALENTS AND INVESTMENTS [Abstract]

NOTE 3 – CASH, CASH EQUIVALENTS AND INVESTMENTS

The Company invests excess cash primarily in bank time deposits and money market funds. The Company’s classification of investments is as follows:

-	Maturing within three months or less from the date of purchase	Cash and cash equivalents
-	Maturing, as of the date of purchase, more than three months, but with remaining maturities of less than one year, from the balance sheet date	Short-term investments
-	Maturing one year or more from the balance sheet date	Long-term marketable investments

The accounting framework for determining fair value includes a hierarchy for ranking the quality and reliability of the information used to measure fair value, which enables the reader of the financial statements to assess the inputs used to develop those measurements. The fair value hierarchy consists of three tiers as follows:

Level 1- These are investments where values are based on unadjusted quoted prices for identical assets in an active market the Company has the ability to access.

Level 2- These are investments where values are based on quoted market prices that are not active or model derived valuations in which all significant inputs are observable in active markets.

Level 3- These are investments where values are derived from techniques in which one or more significant inputs are unobservable.

The following are cash, cash equivalents and investments measured at fair value:

	February 2, 2025						October 31, 2024
	Cash and cash equivalents		Short-term investments		Total Fair Value		Cash and cash equivalents		Short-term investments			Total Fair Value
Cash	$	207,590	$	-	$	207,590	$	414,074	$	-		$	414,074
Level 1
Money market funds		91,740		-		91,740		36,322		-			36,322
Level 2
Time deposits		342,870		-		342,870		148,089		42,184	⁽¹⁾		190,273
	$	642,200	$	-	$	642,200	$	598,485	$	42,184		$	640,669
Restricted Cash⁽²⁾		2,674						2,758
Cash, cash equivalents, and restricted cash	$	644,874					$	601,243

⁽¹⁾ Matured during the first quarter of 2025.

⁽²⁾ Restricted cash is included in other current assets and primarily relates to land lease agreements and customs requirements.

Based upon the Company’s intent and ability to hold its time deposits to maturity (which maturities range up to twelve months at purchase), such securities have been classified as held-to-maturity and are carried at amortized cost, which approximates market value. In the event of a sale of these securities, the Company would determine the cost of the investment sold at the specific individual security level and would include any gain or loss in Interest income and other income, net, where the Company also reports periodic interest earned and the amortization (accretion) of discounts (premiums) related to these investments. For the periods ended February 2, 2025 and October 31, 2024, the Company did not have any unrealized gains or losses related to short-term investments.