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Basis of Presentation
 9 Months Ended
Jul. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]
—Basis of Presentation

The condensed consolidated financial statements have been prepared by Shiloh Industries, Inc. and its subsidiaries (collectively referred to as the "Company," "Shiloh Industries," "us," "our" or "we"), without audit, pursuant to the rules and regulations of the Securities and Exchange Commission (the "SEC"). The information furnished in the condensed consolidated financial statements includes normal recurring adjustments and reflects all adjustments, which are, in the opinion of management, necessary for a fair presentation of such financial statements. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States ("GAAP") have been condensed or omitted pursuant to the rules and regulations of the SEC. Although we believe that the disclosures are adequate to make the information presented not misleading, these condensed consolidated financial statements should be read in conjunction with the audited financial statements and the notes thereto included in our Annual Report on Form 10-K for the fiscal year ended October 31, 2016.

Revenues and operating results for the three and nine months ended July 31, 2017 are not necessarily indicative of the results to be expected for the full year.

Revision of Prior Period Financial Statements

In the fourth quarter of fiscal 2016, we became aware of immaterial errors in certain balance sheet accounts at one of our manufacturing facilities. An assessment concluded that the errors were not material, individually or in the aggregate, to any prior period consolidated financial statements. As such, in accordance with ASC 250 (SAB No. 108, Considering Effects of Prior Year Misstatements when Quantifying Misstatements in Current Year Financial Statements), the prior period consolidated financial statements have been revised (the "Revision") in the applicable consolidated financial statements. We concluded that a revision of prior period consolidated financial statements was appropriate the next time they were reported, since the correction of errors would have been material if recorded in fiscal year 2016. Periods not presented herein will be revised, as applicable, in future filings. Although management has determined that the errors, individually and in the aggregate, were not material to prior periods, the financial statements for the three and nine months ended July 31, 2016, included herein, have been revised to correct for the impact of these items. Unless otherwise indicated, the condensed consolidated financial information as of and for the three and nine months ended July 31, 2017 presented in this Quarterly Report on Form 10-Q reflects these revisions.

The following tables summarize the effects of the Revision on the condensed consolidated statements of operations:
 
Three Months Ended July 31, 2016
Statement of Operations
As Reported
 
Adjustment
 
As Adjusted
Cost of sales
$
224,575

 
$
347

 
$
224,922

Gross profit
24,257

 
(347
)
 
23,910

Operating income
6,145

 
(347
)
 
5,798

Other expense
486

 
1

 
487

Income before income taxes
1,014

 
(348
)
 
666

Provision for income taxes
1,363

 
(19
)
 
1,344

Net loss
$
(349
)
 
$
(329
)
 
$
(678
)
Loss per share:
 
 
 
 
 
Basic loss per share
$(0.02)
 
$(0.02)
 
$(0.04)
Diluted loss per share
$(0.02)
 
$(0.02)
 
$(0.04)
 
Nine Months Ended July 31, 2016
Statement of Operations
As Reported
 
Adjustment
 
As Adjusted
Cost of sales
$
719,135

 
$
(1,064
)
 
$
718,071

Gross profit
65,016

 
1,064

 
66,080

Selling, general and administrative expenses
52,122

 
(240
)
 
51,882

Asset impairment
—

 
273

 
273

Operating income
11,199

 
1,031

 
12,230

Loss before income taxes
(2,830
)
 
1,031

 
(1,799
)
Benefit for income taxes
(479
)
 
276

 
(203
)
Net loss:
$
(2,351
)
 
$
755

 
$
(1,596
)
Loss per share:
 
 
 
 
 
Basic loss per share
$(0.13)
 
$0.04
 
$(0.09)
Diluted loss per share
$(0.13)
 
$0.04
 
$(0.09)
    
The following table summarizes the effects of the Revision on the condensed consolidated statements of cash flows:
 
Nine Months Ended July 31, 2016
Statement of Cash Flows
As Reported
 
Adjustment
 
As Adjusted
CASH FLOWS FROM OPERATING ACTIVITIES:
 
 
 
 
 
Net loss
$
(2,351
)
 
$
755

 
$
(1,596
)
Adjustments to reconcile net loss to net cash provided by operating activities:

 

 

Depreciation and amortization
28,307

 
78

 
28,385

Changes in operating assets and liabilities:


 


 

Accounts receivable
39,662

 
87

 
39,749

Inventories
(5,921
)
 
286

 
(5,635
)
Prepaids and other assets
6,260

 
(877
)
 
5,383

Payables and other liabilities
(26,593
)
 
680

 
(25,913
)
Prepaid and accrued income taxes
(1,655
)
 
276

 
(1,379
)
Net cash provided by operating activities
48,235

 
1,285

 
49,520

CASH FLOWS FROM INVESTING ACTIVITIES:

 

 

Capital expenditures
(18,238
)
 
215

 
(18,023
)
Investment in joint venture
—

 
(1,500
)
 
(1,500
)
Net cash used for investing activities
(16,888
)
 
(1,285
)
 
(18,173
)