Long-Term debt obligations (Tables)

12 Months Ended

Oct. 31, 2019

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments

Long-term debt obligations consisted of the following:

	October 31,
	2019		2018
	(In thousands)
Revolving credit facility with banks (weighted average rate of 3.3% at October 31, 2019)	$	55,000	$	—
Less current maturities of long-term debt	—		—
Total long-term debt	$	55,000	$	—

Leverage Ratio on which Spread on Libor Borrowings and Commitment Fee for Unused Balance of Revolving Credit Agreement are Determined

The spread on Libor borrowings and the commitment fee for the unused balance of the revolving credit agreement are determined based upon the Company’s leverage ratio as follows:

Level	Leverage Ratio	Spread		Commitment Fee
1	< 25%	0.25	%	0.20	%
2	≥ 25% and < 35%	0.50	%	0.25	%
3	≥ 35% and < 45%	1.00	%	0.30	%
4	≥ 45%	1.50	%	0.35	%

Schedule of Maturities of Long-term Debt

The aggregate annual maturities of long-term debt at October 31, 2019 are as follows (in thousands):

Fiscal Year	Amount
2024	$	55,000
	$	55,000