XML 43 R26.htm IDEA: XBRL DOCUMENT v3.6.0.2
Related Party Transaction
12 Months Ended
Oct. 31, 2016
Related Party Transactions [Abstract]  
Related Party Transactions [Text Block]
—Related Party Transactions
The Company had sales to MTD Products Inc. and its affiliates of $5,730, $6,411, and $6,756 for fiscal years 2016, 2015, and 2014, respectively. At October 31, 2016 and 2015, the Company had receivable balances of $1,235 and $1,092, respectively, due from MTD Products Inc. and its affiliates.
As of October 31, 2016, the Company had one joint venture in China. Operating activities have been insignificant and are not yet consolidated in the Company's statement of operations.
On March 11, 2014, the Company entered into a manufacturing agreement with Velocys. As part of the agreement, the Company invested $2,000, which is comprised of Velocys stock with a market value of $1,527 on the date of acquisition and a premium paid of $473, which is being amortized over the remaining life of the related supplier agreement. During fiscal 2014, the Company sold a portion of the Velocys stock and realized a gain of $365. The Company re-measures available-for-sale securities at fair value and records the unrealized gain or loss in other comprehensive income until realized. A cumulative mark-to-market favorable adjustment of $125, net of tax, was recorded as a gain to other comprehensive loss for the fiscal year ended October 31, 2016. A cumulative mark-to-market unfavorable adjustment of $441 net of tax, was recorded as a loss to other comprehensive income (loss) for the fiscal year ended October 31, 2015.
The Company had sales to Velocys of $12 and $1,372 for fiscal years 2016 and 2015, respectively. There were no sales for fiscal year 2014. At October 31, 2016, there was no balance due from Velocys.