Property, Plant and Equipment

12 Months Ended

Oct. 31, 2019

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment [Text Block]

Property, Plant and Equipment, Net

    Property, plant and equipment, net consists of the following:

	October 31,
	2019		2018
Land and improvements	$	13,930	$	13,954
Buildings and improvements	127,241		124,076
Machinery and equipment	523,272		493,522
Furniture and fixtures	24,653		22,556
Construction in progress	54,723		41,964
Total, at cost	743,819		696,072
Less: Accumulated depreciation	415,793		379,896
Property, plant and equipment, net	$	328,026	$	316,176

Depreciation expense was $44,678, $43,356 and $39,389 in fiscal 2019, 2018 and 2017, respectively.

    During the years ended October 31, 2019, 2018 and 2017 interest capitalized as part of property, plant and equipment was $1,183, $648 and $704, respectively. We had unpaid capital expenditures included in accounts payable of $8,262, $4,049 and $4,239 at October 31, 2019, 2018 and 2017, respectively, and consequently such amounts are excluded from capital expenditures in the accompanying consolidated statements of cash flows for the fiscal years 2019 and 2018.

Capital Leases:

Leased property, net is calculated based on the following:

	October 31,
	2019		2018
Leased Property:
Machinery and equipment	$	4,071	$	6,701
Less: Accumulated depreciation	1,769		3,073
Leased property, net	$	2,302	$	3,628

The Company maintains a capital lease that bears interest at a variable rate based on the STIBOR 90 and requires monthly payments through October 31, 2020. As of October 31, 2019 and 2018, $2,000 and $2,543 remained outstanding under this agreement and was classified as debt in our consolidated balance sheet, respectively. At the end of the lease term, a lump sum payment of $1,617 is required.

Future minimum rental payments to be made under capital leases at October 31, 2019 are as follows:

Twelve Months Ending October 31,
2020	$	1,975
2021	—
2022	—
2023	—
2024	—
	1,975
Plus amount representing interest of 2.18% at October 31, 2019	25
Total obligations under capital leases	$	2,000