0001140361-23-059254 | 10-K | XBRL Viewer

Print Document View Excel Document

ACCRUED LIABILITIES (Details) - USD ($) $ in Thousands	Oct. 31, 2023	Oct. 31, 2022
ACCRUED LIABILITIES [Abstract]
Compensation related expenses	$ 37,218	$ 33,061
Income taxes	24,080	37,595
Contract liabilities	9,965	18,872
Property, plant, and equipment	6,624	2,989
Value added and other taxes	3,523	2,923
Service Contracts	2,613	762
Operating leases	1,912	1,354
Telecommunications and utilities	1,311	1,111
Other	7,332	5,540
Accrued liabilities	$ 94,578	$ 104,207

REVENUE

12 Months Ended

Oct. 31, 2023

REVENUE [Abstract]

REVENUE

NOTE 9 - REVENUE

The following tables present our revenue for the years ended October 31, 2023, October 31, 2022, and October 31, 2021, disaggregated by product type, geographic origin, and timing of recognition.

	Year Ended
Revenue by Product Type	October 31, 2023		October 31, 2022		October 31, 2021
IC
High-end	$	194,939	$	195,332	$	162,973
Mainstream		456,340		397,694		297,198
Total IC	$	651,279	$	593,026	$	460,171

FPD
High-end	$	200,842	$	186,988	$	155,670
Mainstream		39,955		44,535		47,920
Total FPD	$	240,797	$	231,523	$	203,590
	$	892,076	$	824,549	$	663,761

	Year Ended
Revenue by Geographic Origin*	October 31, 2023		October 31, 2022		October 31, 2021
Taiwan	$	316,889	$	291,342	$	248,597
China		245,378		212,598		115,732
Korea		162,235		156,139		156,391
United States		128,879		126,205		105,023
Europe		36,579		36,402		36,242
Other		2,116		1,863		1,776
	$	892,076	$	824,549	$	663,761

* This table disaggregates revenue by the location in which it was earned.

	Year Ended
Revenue by Timing of Recognition	October 31, 2023		October 31, 2022		October 31, 2021
Over time	$	838,628	$	758,359	$	606,332
At a point in time		53,448		66,190		57,429
	$	892,076	$	824,549	$	663,761

Contract Assets, Contract Liabilities, and Accounts Receivable

The following table provides information about our contract balances at the balance sheet dates.

Classification	October 31, 2023		October 31, 2022
Contract Assets
Other current assets	$	10,984	$	15,752

Contract Liabilities
Accrued liabilities	$	9,965	$	18,872
Other liabilities		12,454		4,989
	$	22,419	$	23,861

The following table presents revenue recognized from contract liabilities that existed at the beginning of the reporting periods.

		October 31, 2023				October 31, 2022				October 31, 2021
Revenue recognized from beginning liability		$	13,966			$	8,934			$	5,300

Our invoice terms generally range from net thirty to ninety days, depending on both the geographic market in which the transaction occurs and our payment agreements with specific customers. In the event that our evaluation of a customer’s business prospects and financial condition indicate that the customer presents a collectability risk, we modify terms of sale, which may require payment in advance of performance. At the time of adoption, we elected the practical expedient allowed under ASC Topic 606 “Revenue from Contracts with Customers” (“Topic 606”) that permits us not to adjust a contract’s promised amount of consideration to reflect a financing component when the period between when we transfer control of goods or services to customers and when we are paid is one year or less.

In instances when we are paid in advance of our performance, we record a contract liability and, as allowed under the practical expedient in Topic 606, recognize interest expense only if the period between when we receive payment from the customer and the date when we expect to be entitled to the payment is greater than one year. Historically, advance payments we’ve received from customers have generally not preceded the completion of our performance obligations by more than one year.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-9

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-10

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-15

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-13

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org//606/tableOfContent

+ Details

DEBT, Xiamen Working Capital Loans (Details) - Xiamen Working Capital Loans [Member] ¥ in Millions, $ in Millions	1 Months Ended		12 Months Ended
	Dec. 31, 2022 USD ($)	Dec. 31, 2022 CNY (¥)	Oct. 31, 2023 USD ($)	Nov. 30, 2018 USD ($)
Debt Instruments [Abstract]
Maximum borrowing capacity				$ 25.0
Expiration date			Jul. 01, 2024
Repayments of long-term debt	$ 3.6	¥ 25.6
Amount outstanding			$ 0.0

DEBT, Xiamen Project Loans (Details) - Xiamen Project Loans [Member] $ in Thousands, ¥ in Millions	1 Months Ended		3 Months Ended		12 Months Ended
	Feb. 28, 2023 USD ($)	Feb. 28, 2023 CNY (¥)	Apr. 30, 2023 USD ($)	Apr. 30, 2023 CNY (¥)	Oct. 31, 2022 USD ($)	Oct. 31, 2022 CNY (¥)	Oct. 31, 2023 USD ($)	Nov. 30, 2018 CNY (¥)
Project Loans [Abstract]
Maximum borrowing capacity \| ¥								¥ 345.0
Repayments of long-term debt	$ 3,900	¥ 26.4	$ 3,900	¥ 26.4	$ 11,500	¥ 81.0
Amount outstanding \| $							$ 0

DEBT (Tables)

12 Months Ended

Oct. 31, 2023

DEBT [Abstract]

Long-term Debt

Due to the Q2 FY23 payoff of the Xiamen Project loans, as of October 31, 2023, the Current portion of long-term debt and the Long-term debt balances were comprised of finance leases as described below:

As of October 31, 2023	Xiamen Project Loans			Finance Leases			Total
Principal due:
Next 12 months	$	-		$	6,621		$	6,621
Months 13 – 24	$	-		$	17,972		$	17,972
Months 25 – 36		-			12			12
Months 37 – 48		-			13			13
Months 49 – 60		-			1			1
Long-term debt		-			17,998			17,998
Total debt	$	-		$	24,619		$	24,619

Interest rate at balance sheet date	N/A		%	N/A
Basis spread on interest rates	0.00			N/A
Interest rate reset	Quarterly			N/A
Maturity date	December 2025			N/A
Periodic payment amount	Varies as loans mature⁽¹⁾			Varies as Lease mature
Periodic payment frequency	Semiannual, on individual loans			Monthly
Loan collateral (carrying amount)	$	N/A		$	35,165	⁽²⁾

⁽¹⁾

During Q2 FY23, we repaid the entire balance of RMB 26.4 million (approximately $3.9 million) remaining on the loan, of which, RMB 2.0 million was due to be paid in June 2025 and RMB 24.4 million was due to be paid in December 2025.

⁽²⁾

Represents the carrying amount at the balance sheet date of the related ROU assets, in which the lessors have secured interests.

The tables below provide information on our long-term debt as of October 31, 2022.

As of October 31, 2022	Xiamen Project Loans			Xiamen Working Capital Loans			Hefei Equipment Loan		Finance Leases			Total
Principal due:
Next 12 months	$	-		$	3,512		$	-	$	6,512		$	10,024
Months 13 – 24	$	-		$	-		$	-	$	6,610		$	6,610
Months 25 – 36		1,098			-			-		17,961			19,059
Months 37 – 48		6,641			-			-		-			6,641
Long-term debt	$	7,739		$	-		$	-	$	24,571		$	32,310

Interest rate at balance sheet date		4.30% - 4.45	%		4.46	%		N/A			⁽²⁾
Basis spread on interest rates		0.00			76.00			N/A		N/A
Interest rate reset	Quarterly			Monthly/Annually				N/A		N/A
Maturity date	December 2025			July 2023			Paid July 2022				⁽²⁾
Periodic payment amount	Varies as loans mature⁽¹⁾			Increases as loans mature				N/A			⁽²⁾
Periodic payment frequency	Semiannual, on individual loans			Semiannual, on individual loans				N/A	Monthly
Loan collateral (carrying amount)	$	70,705			N/A			N/A	$	37,976	⁽³⁾

⁽¹⁾

During the three month period ended October 31, 2022, we repaid RMB 81.0 million (approximately $11.5 million) that had contractual maturity dates ranging from December 2023 through June 2025.

⁽²⁾

See Note 10 for interest rates on lease liabilities, maturity dates, and periodic payment amounts.

⁽³⁾

Represents the carrying amount at the balance sheet date of the related ROU assets, in which the lessors have secured interests.

EMPLOYEE RETIREMENT PLANS (Details) - USD ($) $ in Millions	12 Months Ended
EMPLOYEE RETIREMENT PLANS (Details) - USD ($) $ in Millions	Oct. 31, 2023	Oct. 31, 2022	Oct. 31, 2021
EMPLOYEE RETIREMENT PLANS [Abstract]
Number of months of service completed to come under retirement plan	3 months
Minimum age of employees to come under retirement plan	18 years
Percentage of salary that can be contributed by the employee	50.00%
Maximum percentage of employees' contributions that Company will match	50.00%
Maximum percentage of employees' gross pay that Company will match	4.00%
Company's contribution to defined contribution retirement plans	$ 0.8	$ 0.7	$ 0.8

LEASES, Lease Cost (Details) - USD ($) $ in Thousands	12 Months Ended
LEASES, Lease Cost (Details) - USD ($) $ in Thousands	Oct. 31, 2023	Oct. 31, 2022	Oct. 31, 2021
Lease, Cost [Abstract]
Operating lease costs	$ 2,278	$ 2,253	$ 2,904
Short-term lease costs	462	469	232
Variable lease costs	656	603	498
Interest on finance lease	426	522	510
Amortization of ROU assets	$ 2,870	$ 2,917	$ 1,867

INVENTORIES (Tables)

12 Months Ended

Oct. 31, 2023

INVENTORIES [Abstract]

Inventories

The components of Inventories at the balance sheet dates are presented below.

	October 31, 2023		October 31, 2022
Raw materials	$	48,948	$	49,326
Work in process		1,010		1,408
Finished goods		5		19
	$	49,963	$	50,753

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Investments (Details) - Government Securities [Member] - USD ($) $ in Thousands	Oct. 31, 2023	Oct. 31, 2022
Available-for-sale [Abstract]
Amortized cost	$ 12,913	$ 38,911
Unrealized gains	4	0
Unrealized losses	(2)	(91)
Carrying Value	$ 12,915	$ 38,820

INCOME TAXES

12 Months Ended

Oct. 31, 2023

INCOME TAXES [Abstract]

INCOME TAXES

NOTE 13 - INCOME TAXES

On December 15, 2022, the European Union (EU) Member States formally adopted the EU’s Pillar Two Directive, which generally provides for a minimum effective tax rate of 15%, as established by the Organization for Economic Co-operation and Development (OECD) Pillar Two Framework. The EU effective dates are January 1, 2024, and January 1, 2025, for different aspects of the directive. A significant number of other countries are expected to also implement similar legislation with varying effective dates in the future. The Company is continuing to evaluate the potential impact on future periods of the Pillar Two Framework, pending legislative adoption by additional individual countries.

Income before the income tax provisions consists of the following:

	Year Ended
	October 31, 2023			October 31, 2022		October 31, 2021
United States	$	(1,737	)	$	1,813	$	(19,447	)
Foreign		271,683			237,220		121,453
	$	269,946		$	239,033	$	102,006

Income Tax Provision

The components of our income tax provisions are presented below.

	Year Ended
	October 31, 2023			October 31, 2022		October 31, 2021
Current:
Federal	$	-		$	-	$	-
State		14			1		4
Foreign		71,225			58,981		25,296
		71,239			58,982		25,300

Deferred:
Federal		-			-		-
State		12			10		103
Foreign		(939	)		799		(2,213	)
		(927	)		809		(2,110	)
Total	$	70,312		$	59,791	$	23,190

The table below presents a reconciliation of income taxes calculated by applying the statutory U.S. federal income tax rate to our income tax provisions of the reporting periods.

	Year Ended
	October 31, 2023			October 31, 2022			October 31, 2021
U.S. federal income tax at statutory rate	$	56,689		$	50,197		$	21,421
Changes in valuation allowances		(256	)		(1,462	)		364
Foreign tax rate differentials		11,394			7,941			3,244
Tax credits		(2,425	)		(1,368	)		(3,942	)
Uncertain tax positions, including reserves, settlements and resolutions		3,328			3,214			1,037
Other, net		1,582			1,269			1,066
Income tax provision	$	70,312		$	59,791		$	23,190

Reporting Period	U.S. Statutory Tax Rates			Photronics Effective Tax Rates			Primary Reasons for Differences
2023		21.0	%		26.0	%	Non-U.S. pre-tax income being taxed at higher statutory rates in non-U.S. jurisdictions, the establishment of uncertain tax positions in non-U.S. jurisdiction and loss jurisdiction pre-tax losses not being benefited due to valuation allowances.
2022		21.0	%		25.0	%	Non-U.S. pre-tax income being taxed at higher statutory rates in non-U.S. jurisdictions; and the establishment of uncertain tax positions in non-U.S. jurisdiction.
2021		21.0	%		22.7	%	Loss jurisdiction pre-tax losses not being benefited due to valuation allowances, non-U.S. pre-tax income being taxed at higher statutory rates in the non-U.S. jurisdictions, and investment credits in foreign jurisdictions.

Deferred Income Tax Assets and Liabilities

The net deferred income tax assets consist of the following:

	As of
	October 31, 2023			October 31, 2022
Deferred income tax assets
Net operating losses	$	26,377		$	29,410
Reserves not currently deductible		8,776			8,528
Tax credit carryforwards		10,442			9,660
Share-based compensation		1,892			1,560
Property, plant and equipment		9,844			6,591
Lease liabilities		5,743			7,367
		63,074			63,116
Valuation allowances		(32,619	)		(32,895	)
		30,455			30,221
Deferred income tax liabilities
ROU assets		(8,193	)		(8,930	)
Other		(1,200	)		(1,722	)
		(9,393	)		(10,652	)
Net deferred income tax assets	$	21,062		$	19,569

Classification
Deferred income tax assets	$	21,297		$	19,816
Other liabilities		(235	)		(247	)
	$	21,062		$	19,569

We have established a valuation allowance for a portion of our deferred tax assets because we believe, based on the weight of all available evidence, that it is more likely than not that a portion of our deferred tax assets will expire prior to utilization. In 2023 the valuation allowance decreased as a result of management’s determination that tax benefits on deferred tax assets would more likely than not be realized and, therefore, decreased the valuation allowance to include these deferred tax assets.

Due to the Tax Cuts and Jobs Act, which was signed into law in December 2017, as of fiscal year end 2018, U.S. deferred taxes were no longer provided on the undistributed earnings of non-U.S. subsidiaries. Our policy to indefinitely reinvest these earnings in non-U.S. operations remains unchanged for the purpose of determining deferred tax liabilities for U.S. state and foreign withholding taxes. Therefore, should we elect in the future to repatriate the remaining foreign earnings deemed to be indefinitely reinvested, we may incur additional state and foreign withholding tax expense on those earnings, the amount of which is not practicable to compute.

Tax Credits and Carryforwards

The following tables present our available operating loss and credit carryforwards as of October 31, 2023, and their related expiration periods.

Operating Loss Carryforwards	Amount		Expiration Period
Federal	$	86,765	2029-Indefinite
State	$	148,934		2024-Indefinite
Foreign	$	435		2024-Indefinite

Tax Credit Carryforwards	Amount		Expiration Period
Federal research and development	$	5,806		2024-2043
State	$	5,042		2024-2037

Uncertain Tax Positions

We include unrecognized tax benefits in Other liabilities, and we include any applicable interest and penalties related to uncertain tax positions in our income tax provision.

A reconciliation of the beginning and ending amounts of unrecognized tax benefits is presented below. The amounts in the table include settlements of non-U.S. audits.

	Year Ended
	October 31, 2023			October 31, 2022			October 31, 2021
Balance at beginning of year before interest and penalties	$	5,204		$	3,534		$	2,550
(Reductions) additions of tax positions in prior years		209			(355	)		181
Additions based on current year tax positions		3,361			2,892			1,313
Settlements		(423	)		(848	)		(489	)
Lapses of statutes of limitations		(19	)		(19	)		(21	)
Balance at end of year before interest and penalties		8,332			5,204			3,534
Interest and penalties		576			395			223
Balance at end of year including interest and penalties	$	8,908		$	5,599		$	3,757

The following table presents additional information on our uncertain tax positions, as of the balance sheet dates.

	October 31, 2023		October 31, 2022
Unrecognized tax benefits that, if recognized, would impact the effective tax rate	$	8,908	$	5,599
Accrued interest and penalties related to uncertain tax positions	$	576	$	395

Although the timing of the reversal of uncertain tax positions may be uncertain, as they can be dependent upon the settlement of tax audits or expirations of statutes of limitations, the Company believes that the amount of uncertain tax positions (including accrued interest and penalties, and net of tax benefits) that may be resolved over the next twelve months is $0.4 million. Resolution of these uncertain tax positions may result from either or both the lapses of statutes of limitations and tax settlements. The Company is no longer subject to tax authority examinations in the U.S., major foreign, or state tax jurisdictions for years prior to fiscal year 2018.

Income Tax Payments and Refunds

The table below presents income taxes paid and refunds of income taxes received during the reporting periods.

	Year Ended
	October 31, 2023		October 31, 2022		October 31, 2021
Income taxes paid	$	70,362	$	37,770	$	22,684
Income tax refunds received	$	485	$	388	$	713

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//740/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-14

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-21

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482526/740-270-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-17

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

+ Details

DEBT, Interest Paid for Debt (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2023	Oct. 31, 2022	Oct. 31, 2021
Interest Paid [Abstract]
Capitalized interest			$ 0.1
Interest payments	$ 0.5	$ 2.8	$ 3.8
Weighted-average interest rate	1.50%	2.50%

Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	Oct. 31, 2023	Oct. 31, 2022
Current assets:
Accounts receivable, allowance	$ 1,099	$ 1,002
Equity:
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	2,000	2,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	150,000	150,000
Common stock, shares issued (in shares)	61,310	60,791
Common stock, shares outstanding (in shares)	61,310	60,791

Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands

12 Months Ended

Oct. 31, 2023

Oct. 31, 2022

Oct. 31, 2021

Consolidated Statements of Income [Abstract]

Revenue

^[1]

$ 892,076

$ 824,549

$ 663,761

Cost of goods sold

555,914

530,336

496,717

Gross profit

336,162

294,213

167,044

Operating expenses:

Selling, general and administrative

69,458

63,989

57,525

Research and development

13,654

18,341

18,490

Total operating expenses

83,112

82,330

76,015

Other operating (loss) income, net

(17)

3,525

Operating income

253,050

211,866

94,554

Non-operating income (expense):

Foreign currency transactions impacts, net

2,466

27,344

7,972

Interest income and other income, net

14,863

1,680

1,165

Interest expense, net of subsidies

(433)

(1,857)

(1,685)

Income before income tax provision

269,946

239,033

102,006

Income tax provision

70,312

59,791

23,190

Net income

199,634

179,242

78,816

Net income attributable to noncontrolling interests

74,149

60,456

23,367

Net income attributable to Photronics, Inc. shareholders

$ 125,485

$ 118,786

$ 55,449

Earnings per share:

Basic (in dollars per share)

$ 2.05

$ 1.96

$ 0.9

Diluted (in dollars per share)

$ 2.03

$ 1.94

$ 0.89

Weighted-average number of common shares outstanding:

Basic (in shares)

61,139

60,559

61,407

Diluted (in shares)

61,755

61,189

61,999

[1]	This table disaggregates revenue by the location in which it was earned.

PDMCX JOINT VENTURE, VIE (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
PDMCX JOINT VENTURE, VIE (Details) - USD ($) $ in Thousands	Jan. 31, 2018	Oct. 31, 2023	Oct. 31, 2022	Oct. 31, 2021
Photronics and DNP [Member]
Variable Interest Entity [Abstract]
Term from inception after which interest holder may put their interest in the VIE		2 years
Period before put or purchase option can be exercised		6 months
Number of business days for obtaining required approvals and clearance for exiting party		3 days
Net Income (Loss) from Operations [Abstract]
Net income from PDMCX		$ 25,098	$ 16,714	$ 6,425
Photronics and DNP [Member] \| Minimum [Member]
Variable Interest Entity [Abstract]
Ownership percentage		20.00%
PDMCX [Member]
Variable Interest Entity [Abstract]
Collateral amount			$ 70,700
Photronics Interest [Member]
Variable Interest Entity [Abstract]
Ownership percentage		50.01%
DNP [Member]
Variable Interest Entity [Abstract]
Ownership percentage	49.99%

PDMCX JOINT VENTURE

12 Months Ended

Oct. 31, 2023

PDMCX JOINT VENTURE [Abstract]

PDMCX JOINT VENTURE

NOTE 6 - PDMCX JOINT VENTURE

In January 2018, Photronics, Inc. through its wholly-owned subsidiary, Photronics Singapore PTE. LTD., (hereinafter, within this Note “we”, “Photronics”, “us”, or “our”), and DNP, through its wholly-owned subsidiary “DNP Asia Pacific PTE, Ltd.” entered into a joint venture under which DNP obtained a 49.99% interest in our IC business in Xiamen, China. The joint venture, which we refer to as “PDMCX”, was established to develop and manufacture photomasks for semiconductors. We entered into this joint venture to enable us to compete more effectively for the merchant photomask business in China, and to benefit from the additional resources and investment that DNP provides to enable us to offer advanced-process technology to our customers.

In 2020, in combination with local financing obtained by PDMCX, Photronics and DNP fulfilled their investment obligations under the PDMCX operating agreement (“the Agreement”). As discussed in Note 8, liens were granted to the local financing entity on property, plant, and equipment and were paid off during fiscal year 2023. These liens had an October 31, 2022, total carrying value of $70.7 million, as collateral for the loans.

Under the Agreement, DNP is afforded, under certain circumstances, the right to put its interest in PDMCX to Photronics. These circumstances include disputes regarding the strategic direction of PDMCX that may arise after the initial two-year term of the Agreement that cannot be resolved between the two parties. As of the date of issuance of these financial statements, DNP had not indicated its intention to exercise this right. In addition, both Photronics and DNP have the option to purchase, or put, their interest from, or to, the other party, should their ownership interest fall below twenty percent for a period of more than six consecutive months. Under all such circumstances, the sales of ownership interests would be at the exiting party’s ownership percentage of the joint venture’s net book value, with closing to take place within three business days of obtaining required approvals and clearance.

The following table presents net income we recorded from the operations of PDMCX during the reporting periods.

	Years Ended
	October 31, 2023		October 31, 2022		October 31, 2021
Net income from PDMCX	$	25,098	$	16,714	$	6,425

As required by the guidance in ASC Topic 810 - “Consolidation”, we evaluated our involvement in PDMCX for the purpose of determining whether we should consolidate its results in our financial statements. The initial step of our evaluation was to determine whether PDMCX was a VIE. Due to its lack of sufficient equity at risk to finance its activities without additional subordinated financial support, we determined that it is a VIE. Having made this determination, we then assessed whether we were the primary beneficiary of the VIE, and concluded that we were the primary beneficiary during the current and prior years reporting periods; thus, as required, the PDMCX financial results have been consolidated with Photronics. Our conclusion was based on the fact that we held a controlling financial interest in PDMCX (which resulted from our having the power to direct the activities that most significantly impacted its economic performance) and had both the obligation to absorb losses and the right to receive benefits that could potentially be significant to PDMCX. Our conclusions that we had the power to direct the activities that most significantly affected the economic performance of PDMCX during the current and prior year periods were based on our right to appoint the majority of its board of directors, which has, among others, the powers to manage the business (through its rights to appoint and evaluate PDMCX’s management), incur indebtedness, enter into agreements and commitments, and acquire and dispose of PDMCX’s assets. In addition, as a result of the 50.01% variable interest we held during the current and prior year periods, we had the obligation to absorb losses, and the right to receive benefits, that could potentially be significant to PDMCX.

The following table presents the carrying amounts of PDMCX assets and liabilities included in our consolidated balance sheets. General creditors of PDMCX do not have recourse to the assets of Photronics (other than the net assets of PDMCX); therefore, our maximum exposure to loss from PDMCX is our interest in the carrying amount of the net assets of the joint venture.

	October 31, 2023				October 31, 2022
Classification	Carrying Amount		Photronics Interest		Carrying Amount		Photronics Interest
Current assets	$	135,960	$	67,994	$	127,542	$	63,784
Noncurrent assets		136,334		68,181		119,392		59,708
Total assets		272,294		136,175		246,934		123,492
Current liabilities		36,305		18,156		51,274		25,643
Noncurrent liabilities		1,873		937		9,161		4,581
Total liabilities		38,178		19,093		60,435		30,224
Net assets	$	234,116	$	117,082	$	186,499	$	93,268

Consolidated Balance Sheets - USD ($) $ in Thousands	Oct. 31, 2023	Oct. 31, 2022
Current assets:
Cash and cash equivalents	$ 499,292	$ 319,680
Short-term investments	12,915	38,820
Accounts receivable, net of allowance of $1,099 in 2023 and $1,002 in 2022	194,927	198,147
Inventories	49,963	50,753
Other current assets	28,353	37,252
Total current assets	785,450	644,652
Property, plant and equipment, net	709,244	643,873
Deferred income taxes	21,297	19,816
Other assets	10,230	7,489
Total assets	1,526,221	1,315,830
Current liabilities:
Current portion of long-term debt	6,621	10,024
Accounts payable	84,024	79,566
Accrued liabilities	94,578	104,207
Total current liabilities	185,223	193,797
Long-term debt	17,998	32,310
Other liabilities	47,391	27,634
Total liabilities	250,612	253,741
Commitments and contingencies
Equity:
Preferred stock, $0.01 par value, 2,000 shares authorized, none issued and outstanding	0	0
Common stock, $0.01 par value, 150,000 shares authorized, 61,310 shares issued and outstanding at October 31, 2023, and 60,791 shares issued and outstanding at October 31, 2022	613	608
Additional paid-in capital	502,010	493,741
Retained earnings	561,119	435,634
Accumulated other comprehensive loss	(88,734)	(98,456)
Total Photronics, Inc. shareholders' equity	975,008	831,527
Noncontrolling interests	300,601	230,562
Total equity	1,275,609	1,062,089
Total liabilities and equity	$ 1,526,221	$ 1,315,830

SUBSIDIARY DIVIDENDS	12 Months Ended
SUBSIDIARY DIVIDENDS	Oct. 31, 2023
SUBSIDIARY DIVIDENDS [Abstract]
SUBSIDIARY DIVIDENDS	NOTE 21 - SUBSIDIARY DIVIDENDS In 2021, PDMC, the Company’s majority owned subsidiary in Taiwan, paid dividends of which 49.99%, or approximately $9.6 million were paid to noncontrolling interests. Dividends were not paid in the years ended 2022 and 2023.

SHARE REPURCHASE PROGRAMS (Tables)

12 Months Ended

Oct. 31, 2023

SHARE REPURCHASE PROGRAMS [Abstract]

Shares Repurchase Programs

All of the shares purchased under the above repurchase programs were retired prior to the end of the fiscal year in which they were purchased. As of October 31, 2023, $31.7 million was available under this authorization for the purchase of additional shares. The table below presents information on the repurchase programs for the three most recent fiscal years.

	2023 Purchases		2022 Purchases		2021 Purchases
Number of shares repurchased		0		187		3,919

Cost of shares repurchased	$	0	$	2,522	$	48,249

Average price paid per share	$	0	$	13.43	$	12.31

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Oct. 31, 2023	Oct. 31, 2022	Oct. 31, 2021
Cash flows from operating activities:
Net income	$ 199,634	$ 179,242	$ 78,816
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of property, plant and equipment	80,473	79,971	87,535
Amortization of intangible assets	362	359	2,861
Share-based compensation	8,001	6,308	5,348
Deferred income taxes	(927)	809	(2,110)
Changes in assets, liabilities, and other:
Accounts receivable	4,026	(51,233)	(36,620)
Inventories	1,236	(2,039)	2,987
Other current assets	9,665	1,204	(13,472)
Accounts payable, accrued liabilities and other	(294)	60,566	25,427
Net cash provided by operating activities	302,176	275,187	150,772
Cash flows from investing activities:
Purchases of property, plant and equipment	(131,295)	(112,338)	(109,099)
Purchases of available-for-sale debt securities	(20,192)	(38,854)	0
Proceeds from maturities of available-for-sale debt securities	47,537	0	0
Government incentives	2,522	3,615	5,775
Purchases of intangible assets	(117)	(205)	(170)
Other	0	25	0
Net cash used in investing activities	(101,545)	(147,757)	(103,494)
Cash flows from financing activities:
Repayments of debt	(18,439)	(65,440)	(20,352)
Purchases of treasury stock	0	(2,522)	(48,249)
Contributions from noncontrolling interests	0	24,995	0
Dividends paid to noncontrolling interests	0	0	(9,597)
Proceeds from share-based arrangements	1,248	5,749	3,874
Proceeds from long-term debt	0	0	20,858
Net settlements of restricted stock awards	(1,302)	(1,471)	(437)
Net cash used in financing activities	(18,493)	(38,689)	(53,903)
Effects of exchange rate changes on cash, cash equivalents, and restricted cash	(2,680)	(46,012)	4,703
Net increase (decrease) in cash, cash equivalents, and restricted cash	179,458	42,729	(1,922)
Cash, cash equivalents, and restricted cash at beginning of year	322,409	279,680	281,602
Cash, cash equivalents, and restricted cash at end of year	501,867	322,409	279,680
Less: Ending restricted cash	2,575	2,729	3,010
Cash and cash equivalents at end of year	499,292	319,680	276,670
Supplemental disclosure of non-cash information:
Accruals for property, plant and equipment purchased during year	$ 18,607	$ 3,266	$ 7,794

RECENT ACCOUNTING PRONOUNCEMENTS	12 Months Ended
RECENT ACCOUNTING PRONOUNCEMENTS	Oct. 31, 2023
RECENT ACCOUNTING PRONOUNCEMENTS [Abstract]
RECENT ACCOUNTING PRONOUNCEMENTS	NOTE 22 - RECENT ACCOUNTING PRONOUNCEMENTS Accounting Standards Updates Adopted In November 2021, the FASB issued ASU 2021-10, “Government Assistance (Topic 832): Disclosures by Business Entities about Government Assistance”, to increase the transparency of government assistance including the disclosure of the types of assistance an entity receives, an entity’s method of accounting for government assistance, and the effect of the assistance on an entity’s financial statements. The guidance was effective for annual disclosures beginning our fiscal year 2023, and early adoption was permitted. We adopted the guidance as of the effective date. The guidance did not have a material impact in the consolidated financial statements. Refer to Note 1 of our consolidated financial statements for additional information. Accounting Standards Updates to be Adopted In November 2023, the FASB issued ASU 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures”, which improves reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. The guidance in this Update is effective for all public entities for fiscal years beginning after December 15, 2023, with early adoption permitted. We are currently evaluating the effect the adoption of this ASU may have on our disclosures. In March 2020, the FASB issued ASU 2020-04, “Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting”, which provides optional expedients and exceptions to applying the guidance on contract modifications, hedge accounting, and other transactions, to simplify the accounting for transitioning from LIBOR, and other interbank offered rates expected to be discontinued, to alternative reference rates. The guidance in this Update was effective upon its issuance; if elected, it is to be applied prospectively from December 31, 2022. In December 2022, the FASB issues ASU 2022-06, “Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848”, which extends the period of time entities can utilize the reference rate reform relief guidance under ASU 2020-04 from December 31, 2022 to December 31, 2024. We are currently evaluating the effect the adoption of this ASU may have on our disclosures.

- Definition

The entire disclosure for change in accounting principle. Includes, but is not limited to, nature, reason, and method of adopting amendment to accounting standards or other change in accounting principle.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480016/944-40-65-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(ii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480016/944-40-65-2

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(iii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480016/944-40-65-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(iv)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480016/944-40-65-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (h)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480016/944-40-65-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 5
-Subparagraph (SAB Topic 11.M.Q2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480530/250-10-S99-5

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(4)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (i)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480528/815-20-65-6

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 842
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 5
-Subparagraph (f)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479832/842-10-65-5

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 842
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 5
-Subparagraph (f)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479832/842-10-65-5

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (c)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (c)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-2

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (c)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 848
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483550/848-10-65-2

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 105
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479343/105-10-65-6

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-1

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 8
-Subparagraph (e)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482615/740-10-65-8

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 8
-Subparagraph (e)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482615/740-10-65-8

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 8
-Subparagraph (e)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482615/740-10-65-8

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (e)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482833/825-10-65-6

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (e)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482833/825-10-65-6

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (e)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482833/825-10-65-6

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 4
-Subparagraph (e)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479654/326-10-65-4

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 4
-Subparagraph (e)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479654/326-10-65-4

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 926
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (f)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483194/926-20-65-2

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 926
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (f)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483194/926-20-65-2

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 926
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (f)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483194/926-20-65-2

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480530/250-10-S99-6

Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-1

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-1

Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 250
-Publisher FASB
-URI https://asc.fasb.org//250/tableOfContent

Reference 32: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (e)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 33: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (d)(1)
-SubTopic 20
-Topic 310
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481925/310-20-65-2

Reference 34: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (d)(2)
-SubTopic 20
-Topic 310
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481925/310-20-65-2

+ Details

INSIDER TRADING ARRANGEMENTS	3 Months Ended
INSIDER TRADING ARRANGEMENTS	Oct. 31, 2023
Insider Trading Arrangements [Line Items]
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

ACCOUNTS RECEIVABLE

12 Months Ended

Oct. 31, 2023

ACCOUNTS RECEIVABLE [Abstract]

ACCOUNTS RECEIVABLE

NOTE 2 – ACCOUNTS RECEIVABLE

The components of Accounts Receivable at the balance sheet dates are presented below.

	October 31, 2023			October 31, 2022
Accounts Receivable	$	171,433		$	178,303
Unbilled Receivable		24,593			20,846
Allowance for Credit Losses		(1,099	)		(1,002	)
	$	194,927		$	198,147

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Property, Plant and Equipment (Details)	Oct. 31, 2023
Buildings and Improvements [Member] \| Minimum [Member]
Property, Plant and Equipment [Abstract]
Estimated useful lives	10 years
Buildings and Improvements [Member] \| Maximum [Member]
Property, Plant and Equipment [Abstract]
Estimated useful lives	39 years
Machinery and Equipment [Member] \| Minimum [Member]
Property, Plant and Equipment [Abstract]
Estimated useful lives	5 years
Machinery and Equipment [Member] \| Maximum [Member]
Property, Plant and Equipment [Abstract]
Estimated useful lives	15 years
Furniture, Fixtures and Office Equipment [Member] \| Minimum [Member]
Property, Plant and Equipment [Abstract]
Estimated useful lives	3 years
Furniture, Fixtures and Office Equipment [Member] \| Maximum [Member]
Property, Plant and Equipment [Abstract]
Estimated useful lives	5 years

REVENUE (Policies)	12 Months Ended
REVENUE (Policies)	Oct. 31, 2023
REVENUE [Abstract]
Revenue	Our invoice terms generally range from net thirty to ninety days, depending on both the geographic market in which the transaction occurs and our payment agreements with specific customers. In the event that our evaluation of a customer’s business prospects and financial condition indicate that the customer presents a collectability risk, we modify terms of sale, which may require payment in advance of performance. At the time of adoption, we elected the practical expedient allowed under ASC Topic 606 “Revenue from Contracts with Customers” (“Topic 606”) that permits us not to adjust a contract’s promised amount of consideration to reflect a financing component when the period between when we transfer control of goods or services to customers and when we are paid is one year or less. In instances when we are paid in advance of our performance, we record a contract liability and, as allowed under the practical expedient in Topic 606, recognize interest expense only if the period between when we receive payment from the customer and the date when we expect to be entitled to the payment is greater than one year. Historically, advance payments we’ve received from customers have generally not preceded the completion of our performance obligations by more than one year.

- Definition

Disclosure of accounting policy for revenue from contract with customer.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-17

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 19
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-19

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-18

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-18

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 20
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-20

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 20
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-20

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 20
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-20

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 20
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-20

Reference 9: http://www.xbrl.org/2003/role/exampleRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (e)
-SubTopic 10
-Topic 235
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483426/235-10-50-4

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org//606/tableOfContent

+ Details

CHANGES IN ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME BY COMPONENT

12 Months Ended

Oct. 31, 2023

CHANGES IN ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME BY COMPONENT [Abstract]

CHANGES IN ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME BY COMPONENT

NOTE 16 - CHANGES IN ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME BY COMPONENT

The following tables set forth the changes in our accumulated other comprehensive (loss) income by component (net of tax of $0) for the years ended October 31, 2023, and October 31, 2022.

	Year Ended October 31, 2023
	Foreign Currency Translation Adjustments			Other			Total
Balance at October 31, 2022	$	(97,790	)	$	(666	)	$	(98,456	)
Other comprehensive income (loss)		5,615			(3	)		5,612
Other comprehensive (income) loss attributable to noncontrolling interests		4,131			(21	)		4,110

Balance at October 31, 2023	$	(88,044	)	$	(690	)	$	(88,734	)

	Year Ended October 31, 2022
	Foreign Currency Translation Adjustments			Other			Total
Balance at October 31, 2021	$	21,476		$	(905	)	$	20,571
Other comprehensive (loss) income		(151,209	)		423			(150,786	)
Other comprehensive loss (income) attributable to noncontrolling interests		31,943			(184	)		31,759

Balance at October 31, 2022	$	(97,790	)	$	(666	)	$	(98,456	)

RISKS AND CONCENTRATIONS (Details) - USD ($) $ in Thousands	12 Months Ended
RISKS AND CONCENTRATIONS (Details) - USD ($) $ in Thousands	Oct. 31, 2023	Oct. 31, 2022	Oct. 31, 2021
Geographical Areas [Abstract]
Long-lived Assets	$ 716,135	$ 647,967
Net Assets	1,275,609	1,062,089
China [Member]
Geographical Areas [Abstract]
Long-lived Assets	249,357	242,712
Net Assets	317,409	257,855
Taiwan [Member]
Geographical Areas [Abstract]
Long-lived Assets	199,313	155,690
Net Assets	489,722	393,795
United States [Member]
Geographical Areas [Abstract]
Long-lived Assets	140,733	132,915
Net Assets	188,712	183,909
Korea [Member]
Geographical Areas [Abstract]
Long-lived Assets	119,438	109,892
Net Assets	281,941	229,501
Europe and Other [Member]
Geographical Areas [Abstract]
Long-lived Assets	7,294	6,758
Net Assets	$ (2,175)	$ (2,971)
Accounts Receivable [Member] \| Customer Concentration Risk [Member] \| Customer A [Member]
Customer Account [Abstract]
Customer's percentage of net accounts receivable/revenue	21.00%	16.00%
Accounts Receivable [Member] \| Customer Concentration Risk [Member] \| Customer B [Member]
Customer Account [Abstract]
Customer's percentage of net accounts receivable/revenue	10.00%	16.00%
Revenue [Member] \| Customer Concentration Risk [Member] \| Customer A [Member]
Customer Account [Abstract]
Customer's percentage of net accounts receivable/revenue	14.00%	15.00%	17.00%
Revenue [Member] \| Customer Concentration Risk [Member] \| Customer B [Member]
Customer Account [Abstract]
Customer's percentage of net accounts receivable/revenue	13.00%	5.00%	3.00%
Revenue [Member] \| Customer Concentration Risk [Member] \| Customer C [Member]
Customer Account [Abstract]
Customer's percentage of net accounts receivable/revenue	10.00%	11.00%	12.00%

PROPERTY, PLANT AND EQUIPMENT, NET (Tables)

12 Months Ended

Oct. 31, 2023

PROPERTY, PLANT, AND EQUIPMENT, NET [Abstract]

Property, Plant and Equipment

Presented below are the components of Property, plant and equipment, net at the balance sheet dates.

	October 31, 2023			October 31, 2022
Land	$	11,378		$	11,134
Buildings and improvements		185,850			168,024
Machinery and equipment		1,922,041			1,769,478
Leasehold improvements		18,894			18,802
Furniture, fixtures, and office equipment		15,856			14,355
Construction in progress		55,434			90,846
		2,209,453			2,072,639
Accumulated depreciation and amortization		(1,500,209	)		(1,428,766	)
	$	709,244		$	643,873

Information on ROU Assets from Finance Leases

Information on ROU assets resulting from finance leases, at the balance sheet dates, is presented below.

	October 31, 2023			October 31, 2022
Machinery and equipment	$	42,820		$	42,760
Accumulated amortization		(7,655	)		(4,784	)
	$	35,165		$	37,976

Depreciation Expense

The following table presents depreciation expense (including the amortization of ROU assets) related to property, plant and equipment incurred during the reporting periods.

	Years Ended
	October 31, 2023		October 31, 2022		October 31, 2021
Depreciation Expense	$	80,472	$	79,971	$	87,535

INVENTORIES (Details) - USD ($) $ in Thousands	Oct. 31, 2023	Oct. 31, 2022
INVENTORIES [Abstract]
Raw materials	$ 48,948	$ 49,326
Work in process	1,010	1,408
Finished goods	5	19
Inventories	$ 49,963	$ 50,753

RELATED PARTY TRANSACTIONS (Details) - USD ($)
$ in Thousands

12 Months Ended

Oct. 31, 2023

Oct. 31, 2022

Oct. 31, 2021

Related Party Agreement [Abstract]

Revenue

^[1]

$ 892,076

$ 824,549

$ 663,761

Accounts receivable

194,927

198,147

Customer One [Member]

Related Party Agreement [Abstract]

Revenue

126,500

119,000

$ 111,000

Accounts receivable

$ 41,500

$ 32,400

[1]	This table disaggregates revenue by the location in which it was earned.

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 924
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479941/924-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-4

+ Details

ACCOUNTS RECEIVABLE (Tables)

12 Months Ended

Oct. 31, 2023

ACCOUNTS RECEIVABLE [Abstract]

Accounts Receivable

The components of Accounts Receivable at the balance sheet dates are presented below.

	October 31, 2023			October 31, 2022
Accounts Receivable	$	171,433		$	178,303
Unbilled Receivable		24,593			20,846
Allowance for Credit Losses		(1,099	)		(1,002	)
	$	194,927		$	198,147

PROPERTY, PLANT AND EQUIPMENT, NET

12 Months Ended

Oct. 31, 2023

PROPERTY, PLANT, AND EQUIPMENT, NET [Abstract]

PROPERTY, PLANT AND EQUIPMENT, NET

NOTE 5 - PROPERTY, PLANT AND EQUIPMENT, NET

Presented below are the components of Property, plant and equipment, net at the balance sheet dates.

	October 31, 2023			October 31, 2022
Land	$	11,378		$	11,134
Buildings and improvements		185,850			168,024
Machinery and equipment		1,922,041			1,769,478
Leasehold improvements		18,894			18,802
Furniture, fixtures, and office equipment		15,856			14,355
Construction in progress		55,434			90,846
		2,209,453			2,072,639
Accumulated depreciation and amortization		(1,500,209	)		(1,428,766	)
	$	709,244		$	643,873

Information on ROU assets resulting from finance leases, at the balance sheet dates, is presented below.

	October 31, 2023			October 31, 2022
Machinery and equipment	$	42,820		$	42,760
Accumulated amortization		(7,655	)		(4,784	)
	$	35,165		$	37,976

The following table presents depreciation expense (including the amortization of ROU assets) related to property, plant and equipment incurred during the reporting periods.

	Years Ended
	October 31, 2023		October 31, 2022		October 31, 2021
Depreciation Expense	$	80,472	$	79,971	$	87,535

In the third quarter of 2021, we recorded a $3.5 million gain on the trade-in of a lithography tool with a tool vendor as partial compensation for a more advanced tool.

PDMCX JOINT VENTURE, Carrying Amounts of Assets and Liabilities (Details) - USD ($) $ in Thousands	Oct. 31, 2023	Oct. 31, 2022
Carrying amounts of assets and liabilities [Abstract]
Current assets	$ 785,450	$ 644,652
Total assets	1,526,221	1,315,830
Current liabilities	185,223	193,797
Total liabilities	250,612	253,741
Net assets	1,275,609	1,062,089
Carrying Amount [Member]
Carrying amounts of assets and liabilities [Abstract]
Current assets	135,960	127,542
Noncurrent assets	136,334	119,392
Total assets	272,294	246,934
Current liabilities	36,305	51,274
Noncurrent liabilities	1,873	9,161
Total liabilities	38,178	60,435
Net assets	234,116	186,499
Photronics Interest [Member]
Carrying amounts of assets and liabilities [Abstract]
Current assets	67,994	63,784
Noncurrent assets	68,181	59,708
Total assets	136,175	123,492
Current liabilities	18,156	25,643
Noncurrent liabilities	937	4,581
Total liabilities	19,093	30,224
Net assets	$ 117,082	$ 93,268

PDMCX JOINT VENTURE (Tables)

12 Months Ended

Oct. 31, 2023

PDMCX JOINT VENTURE [Abstract]

Net Income Recorded from Operations

The following table presents net income we recorded from the operations of PDMCX during the reporting periods.

	Years Ended
	October 31, 2023		October 31, 2022		October 31, 2021
Net income from PDMCX	$	25,098	$	16,714	$	6,425

Carrying Amounts and Exposure to Loss Related to Assets and Liabilities

	October 31, 2023				October 31, 2022
Classification	Carrying Amount		Photronics Interest		Carrying Amount		Photronics Interest
Current assets	$	135,960	$	67,994	$	127,542	$	63,784
Noncurrent assets		136,334		68,181		119,392		59,708
Total assets		272,294		136,175		246,934		123,492
Current liabilities		36,305		18,156		51,274		25,643
Noncurrent liabilities		1,873		937		9,161		4,581
Total liabilities		38,178		19,093		60,435		30,224
Net assets	$	234,116	$	117,082	$	186,499	$	93,268

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

+ References + Details

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Restricted Cash (Details) - USD ($) $ in Thousands	Oct. 31, 2023	Oct. 31, 2022	Oct. 31, 2021
Restricted Cash [Abstract]
Restricted cash	$ 2,575	$ 2,729	$ 3,010

SHARE-BASED COMPENSATION (Tables)

12 Months Ended

Oct. 31, 2023

SHARE-BASED COMPENSATION [Abstract]

Share-based Compensation Expenses

The table below presents information on our share-based compensation expenses for the three most recent fiscal years.

	Year Ended
	October 31, 2023		October 31, 2022		October 31, 2021
Expense reported in:
Cost of goods sold	$	1,259	$	868	$	446
Selling, general, and administrative		5,962		4,803		4,446
Research and development		780		637		456
Total expense incurred	$	8,001	$	6,308	$	5,348

Expense by award type:
Restricted stock awards	$	7,909	$	5,800	$	4,920
Stock options		1		298		218
Employee stock purchase plan		91		210		210
Total expense incurred	$	8,001	$	6,308	$	5,348

Income tax benefits of share-based compensation	$	715	$	449	$	233
Share-based compensation cost capitalized	$	-	$	-	$	-

Restricted Stock Awards Activity

A summary of restricted stock award activity during 2023 and the status of our restricted stock awards as of October 31, 2023, is presented below.

Restricted Stock	Shares			Weighted-Average Fair Value at Grant Date
Outstanding at October 31, 2022		893,704		$	15.62
Granted		791,925		$	16.84
Vested		(417,432	)	$	14.98
Cancelled		(29,900	)	$	16.48
Outstanding at October 31, 2023		1,238,297		$	16.27
Expected to vest as of October 31, 2023		1,117,128		$	16.21

Additional Information on Restricted Stock Awards

The table below presents additional information on our restricted stock awards for the three most recent fiscal years.

	Year Ended
	October 31, 2023		October 31, 2022		October 31, 2021
Number of shares granted		791,925		654,224		564,800
Weighted-average grant-date fair value of awards (in dollars per share)	$	16.84	$	18.73	$	11.20
Compensation costs not yet recognized	$	12,760	$	8,949	$	7,300
Weighted-average amortization period (in years)		2.8		2.7		2.6
Fair value of awards for which restrictions lapsed	$	6,256	$	5,212	$	4,491
Shares outstanding at balance sheet date		1,238,297		893,704		929,147

Stock Options Activity

The table below presents a summary of stock options activity during 2023 and information on stock options outstanding at October 31, 2023.

	Shares			Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Life	Aggregate Intrinsic Value
Outstanding at October 31, 2022		614,001		$	9.74
Granted		-		$	-
Exercised		(137,226	)	$	8.24
Cancellations, forfeitures, and adjustments		(4,500	)	$	10.18
Outstanding at October 31, 2023		472,275		$	10.18	2.5 years	$	3,865
Exercisable at October 31, 2023		472,275		$	10.18	2.5 years	$	3,865
Expected to vest as of October 31, 2023		-		$	-	- years	$	-

Additional Information on Stock Option Awards

The table below presents additional information on stock option awards for the three most recent fiscal years.

	Year Ended
	October 31, 2023		October 31, 2022		October 31, 2021
Number of options granted in period		-		-		-
Total intrinsic value of options exercised	$	1,654	$	5,108	$	1,910
Cash received from option exercises	$	1,101	$	5,275	$	3,441
Compensation cost not yet recognized	$	-	$	13	$	109
Weighted-average amortization period for cost not yet recognized (in years)		-		0.2		1.1

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Oct. 31, 2023

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Business

Photronics, Inc. (“Photronics”, “the Company”, “we”, “our”, or “us”) is one of the world’s leading manufacturers of photomasks, which are high-precision photographic quartz or glass plates containing microscopic images of electronic circuits. Photomasks are a key element in the manufacture of ICs and FPDs, and are used as masters to transfer circuit patterns onto semiconductor wafers and FPD substrates during the fabrication of integrated circuits, a variety of FPDs and, to a lesser extent, other types of electrical and optical components. We currently have eleven manufacturing facilities, located in Taiwan (3), China (2), Korea, the United States (3), and Europe (2).

Consolidation

The accompanying consolidated financial statements include the accounts of Photronics, Inc., its wholly owned subsidiaries, and the majority-owned subsidiaries which it controls. All intercompany balances and transactions have been eliminated in consolidation.

Estimates and Assumptions

The preparation of financial statements in conformity with U.S.GAAP requires us to make estimates and assumptions that affect amounts reported in them. Our estimates are based on historical experience and on various assumptions that are believed to be reasonable, based on the facts and circumstances available at the time they are made. Subsequent actual results may differ from such estimates. We review these estimates periodically and reflect any effects of revisions in the period in which they are determined.

Cash and Cash Equivalents

Cash and cash equivalents include cash and highly liquid investments with an original maturity of three months or less, readily convertible to known amounts of cash, and so near to their maturity that they present insignificant risk of changes in value because of changes in interest rates. The carrying values of cash equivalents approximate their fair values, due to the short-term maturities of these instruments.

Investments

Investments consist of U. S. government securities and are classified as available-for-sale. We classify available-for-sale securities on our consolidated balance sheet 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

As of October 31, 2023, and October 31, 2022, all of our available-for-sale securities had remaining maturities less than one year, and have been classified as Short-term investments.

Available-for-sale debt investments are reported at fair value, with unrealized gains or losses (net of tax) reported in Accumulated other comprehensive (loss) income. The fair values of our available-for-sale securities are Level 1 measurements, based on quoted prices from active markets for identical assets. In the event of a sale of an available-for-sale debt investment, we 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 we also report periodic interest earned and the amortization (accretion) of discounts (premiums) related to these investments. The table below provides information on our available-for-sale debt securities.

	October 31, 2023									October 31, 2022
	Amortized Cost		Unrealized Gains		Unrealized Losses			Carrying Value		Amortized Cost		Unrealized Gains		Unrealized Losses			Carrying Value
Government securities	$	12,913	$	4	$	(2	)	$	12,915	$	38,911	$	-	$	(91	)	$	38,820

Periodically, at the individual security level, we review our investments to determine if they are impaired. An investment would be impaired if its amortized cost exceeds its fair value. In the event that an investment’s amortized cost exceeds its fair value, we would determine whether the impairment is temporary or other than temporary. Factors indicating that an other than temporary impairment had occurred that we would consider in our determination include whether we have decided to sell the security and whether it is more likely than not that we may be required to sell the security before its amortized cost basis is recovered. In addition, for certain types of securities, we would assess whether the discounted cash flows we expect to collect on an investment are less than its amortized cost and, under such a circumstance, recognize the existing credit loss as an impairment.

Accounts Receivable, Unbilled Receivables and Allowance for Credit Losses

We generally record our accounts receivable at their billed amounts.The Company recognizes unbilled receivables when the Company has satisfied its performance obligations, has an unconditional right to consideration, but has not yet issued an invoice. All outstanding past due customer invoices are reviewed for collectability during, and at the end of, every reporting period. To the extent that we believe a loss on the collection of a customer invoice is probable, we record the loss and credit an allowance for credit losses. In the event that an amount is determined to be uncollectible, we charge the allowance for credit losses and derecognize the related receivable. Refer to our revenue recognition policy, below, for additional information on our accounting for accounts receivable.

Inventories

Inventories are stated at the lower of cost, determined under the first-in, first-out (“FIFO”) method, or net realizable value. Please refer to Note 4 of our consolidated financial statements for additional information on our inventories. Inventory reserves are established when conditions indicate that the net realizable value is less than costs due to assigned expiration dates or other causes based on individual facts and circumstances. If net realizable value is less than cost at the balance sheet date, the carrying amount is reduced to the realizable value, and the difference is recognized as a loss on valuation of inventories within cost of sales.

Property, Plant and Equipment

Property, plant and equipment, except as explained below under “Impairment of Long-Lived Assets,” is stated at cost less accumulated depreciation and amortization. Repairs and maintenance, as well as renewals and replacements of a routine nature, are charged to operations as incurred, while those that improve or extend the lives of existing assets are capitalized. Upon sale or other disposition, the cost of the asset and its related accumulated depreciation are removed from the accounts, and any resulting gain or loss is reflected in earnings.

Depreciation and amortization, essentially all of which are included in Cost of goods sold in our consolidated statements of income, are computed using the straight-line method over the estimated useful lives of the related assets. Buildings and improvements are depreciated over 10 to 39 years, machinery and equipment over 5 to 15 years, and furniture, fixtures, and office equipment over 3 to 5 years. Leasehold improvements are amortized over the lesser of the life of the lease or the estimated useful life of the improvement. We employ judgment when making assumptions about the estimated useful lives and depreciation periods we assign to property, plant and equipment, and when events or changes in circumstances such as a significant industry downturn, plant closures, technological obsolescence, or other occurrences indicate that their carrying amounts may not be recoverable.

Impairment of Long-Lived Assets

Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. Determinations of recoverability are based upon our judgment and estimates of undiscounted future cash flows resulting from the use of the assets and their eventual disposition. Measurement of an impairment loss for long-lived assets that we expect to hold and use is based on the fair value of the assets, determined using a market or income approach, compared with the carrying value of the asset. The carrying values of assets determined to be impaired would be reduced to their estimated fair values.

Restricted Cash

Restricted cash in the amounts of $2.6 million and $2.7 million are included in Other assets on our October 31, 2023 and October 31, 2022, consolidated balance sheets, respectively. The restrictions on these amounts are primarily related to land lease agreements and customs requirements.

Treasury Stock

We record treasury stock purchases under the cost method, recording the entire cost of the acquired stock as treasury stock. Gains and losses on subsequent reissuances would be credited or charged to additional paid-in capital, and we would employ the average cost method (with average cost being determined separately for each share repurchase program), in the event that we subsequently reissue shares.When we retire our treasury stock, any excess of the repurchase price paid over par value is allocated between additional paid-in capital and retained earnings.

Revenue Recognition

We recognize revenue when, or as, control of a good or service transfers to a customer, in an amount that reflects the consideration to which we expect to be entitled in exchange for transferring those goods or services. We account for an arrangement as a revenue contract when each party has approved and is committed to perform under the contract, the rights of the contracting parties regarding the goods or services to be transferred and the payment terms are identifiable, the arrangement has commercial substance, and collection of consideration is probable. Substantially all of our revenue comes from the sales of photomasks. We typically contract with our customers to sell sets of photomasks, which are comprised of multiple layers, the predominance of which we invoice as they ship to customers. As the photomasks are manufactured to customer specifications, they have no alternative use to us and, as our contracts generally provide us with the right to payment for work completed to date, we recognize revenue as we perform, or “over time,” on most of our contracts. We measure our performance to date using an input method, which is based on our estimated costs to complete the various manufacturing phases of a photomask. At the end of a reporting period, there are a number of uncompleted revenue contracts on which we have performed; for any such contracts under which we are entitled to be compensated for our costs incurred plus a reasonable profit, we recognize revenue and a corresponding contract asset for such performance. We account for shipping and handling activities that we perform after a customer obtains control of a good as being activities to fulfill our promise to transfer the good to the customer, rather than as promised services, or performance obligations, under the contract. We report our revenue net of any sales or similar taxes we collect on behalf of governmental entities.

As stated above, photomasks are manufactured to customer specifications in accordance with their proprietary designs; thus, they are individually unique. Due to their uniqueness and other factors, their transaction prices are individually established through negotiations with customers; consequently, our photomasks do not have standard or “list” prices. The transaction prices of the vast majority of our revenue contracts include only fixed amounts of consideration. In certain instances, such as when we offer a customer an early payment discount, an estimate of variable consideration would be included in the transaction price, but only to the extent that a significant reversal of revenue would not occur when the uncertainty related to the variability was resolved.

Contract Assets, Contract Liabilities, and Accounts Receivable

We recognize a contract asset when our performance under a contract precedes our receipt of consideration from a customer, or before payment is due, and our receipt of consideration is conditional upon factors other than the passage of time. Contract assets reflect our transfer of control to customers of photomasks that are in process or completed but not yet shipped to customers. A receivable is recognized when we have an unconditional right to payment for our performance, which generally occurs when we ship the photomasks. Our contract assets primarily consist of a significant amount of our in-process production orders and fully manufactured photomasks which have not yet shipped, for which we have an enforceable right to collect consideration (including a reasonable profit) in the event the in-process orders are cancelled by customers. On an individual contract basis, we net contract assets with contract liabilities (deferred revenue) for financial reporting purposes. We did not impair any contract assets or accounts receivable in 2023, 2022, or 2021.

Contract Costs

We pay commissions to third-party sales agents for certain sales that they procure on our behalf. However, the bases of the commissions are the transaction prices of the sales, which are completed in less than one year; thus, no relationship is established with a customer that will result in future business. Therefore, we would not recognize any portion of these sales commissions as costs of obtaining a contract, nor do we currently foresee other circumstances under which we would recognize such assets.

Remaining Performance Obligations

As we are typically required to fulfill customer orders within a short time period, our backlog of orders is generally not in excess of one to two weeks for IC photomasks and two to three weeks for FPD photomasks. However, the demand for some IC photomasks can extend beyond the traditional time period; thus the backlog, in some individual cases, can extend to as long as two to three months. As allowed under Topic 606, we have elected not to disclose our remaining performance obligations, which represent the costs associated with the completion of the manufacturing process of in-process photomasks related to contracts that have an original duration of one year or less.

Product Warranties

Our photomasks are sold under warranties that generally range from one to twenty-four months. We warrant that our photomasks conform to customer specifications, and we will typically repair, replace, or issue a refund for any photomasks that fail to do so. The warranties do not represent separate performance obligations in our revenue contracts. Historically, customer claims under warranties have been immaterial.

Leases

We determine if an agreement is, or contains, a lease on the earlier of the date of the agreement or the date on which we commit to entering the agreement and evaluate at that time whether the lease is an operating lease or a finance lease. We recognize right-of-use assets and lease liabilities for operating and finance leases with terms greater than 12 months. Please refer to Note 10 of our consolidated financial statements for additional information.

Our involvement in lease arrangements has typically been as a lessee. We determine if an agreement is, or contains, a lease on the earlier of the date of the agreement or the date on which we commit to entering the agreement. An arrangement is determined to be a lease when it conveys to us the right to control the use of an identified asset for a period of time in exchange for consideration. Our having the right to control an identified asset is determined by whether we are entitled to substantially all of its economic benefits and can direct its use. We recognize leases on our consolidated balance sheet when a lessor makes an asset underlying a lease having a term in excess of twelve months available for our use. As allowed under ASC Topic 842 – “Leases” (“Topic 842”), we have elected 1) not to apply the recognition requirements to leases that, at their commencement dates, have lease terms of twelve months or less and do not include options to purchase their underlying assets that we are reasonably certain to exercise and 2) for all classes of assets, the practical expedient to not separate lease components of a contract from nonlease components of a contract.

If an arrangement is determined to be, or include, a lease, we then apply the classification criteria in Topic 842 to determine whether the lease is a finance lease or an operating lease. For both types of leases, at their commencement dates (which are the dates on which a lessor makes an underlying asset available for our use), we recognize ROU assets, which represent our rights to use the underlying assets, and lease liabilities which represent our obligation to make payments for such rights. The present value of lease payments over the term of the lease provides the basis for the initial measurement of ROU assets and their related lease liabilities. Variable lease payments, other than those that are dependent on an index or on a rate (at which they are measured on their commencement dates), are not included in the measurement of ROU assets and their related lease liabilities. Lease terms include extension periods if the lease agreement includes an option to extend the lease that we are reasonably certain to exercise.

The initial measurement process for finance leases and operating leases is the same, except that, for operating leases, we generally apply our incremental borrowing rates for collateralized borrowings over terms similar to those of the leases to determine the lease liability while, for finance leases, we use the interest rates implicit in the leases. The initial measurement of ROU assets may require further adjustments for lease prepayments and initial direct costs we incur.

Operating leases are expensed on a straight-line basis over the terms of the leases, and are included in the consolidated statement of income in Cost of goods sold, Selling, general and administrative, or Research and development expense in accordance with the use of the underlying asset. Finance lease ROU assets are amortized over the estimated useful life of the underlying asset; the expenses are included in the consolidated statement of income in Cost of goods sold. Finance lease liabilities are subsequently remeasured by increasing the liability to reflect interest accrued during a period and decreasing the liability to reflect payments made during the period. Interest expense incurred on finance leases is included in Interest expense on the consolidated statements of income.

Cash paid for operating leases and interest paid for finance leases are included in the consolidated statement of cash flows as operating activities in Accounts payable, accrued liabilities and other; cash paid for finance lease principal is included in Repayments of debt in the financing activities section of the consolidated statement of cash flows.

Share-Based Compensation

We recognize share-based compensation expense over the service period during which the awards are expected to vest. Share-based compensation expense includes the estimated effects of forfeitures, which are adjusted over the requisite service period to the extent actual forfeitures differ, or are expected to differ, from such estimates. Changes in estimated forfeitures are recognized in the period of change and will impact the amount of expense to be recognized in future periods. Determining the appropriate option pricing model, calculating the grant date fair value of share-based awards, and estimating forfeiture rates requires considerable judgment, including estimations of stock price volatility and the expected term of options granted.

We use the Black-Scholes option pricing model to value employee stock options. We estimate stock price volatility based on daily averages of our common stock’s historical volatility over a term approximately equal to the estimated time period the grant will remain outstanding. The expected term of options and forfeiture rate assumptions are derived from historical data.

Research and Development

Research and development costs are expensed as incurred and consist primarily of development efforts related to high-end process technologies for advanced subwavelength reticle solutions for IC and FPD photomask technologies.

Foreign Currency Translation

Our non-U.S. subsidiaries maintain their books of account in their respective local currencies, which are their functional currencies. Assets and liabilities of such subsidiaries are translated to U.S. dollars at year-end exchange rates. Income and expenses are translated at average rates of exchange prevailing during the year. Foreign currency translation adjustments are accumulated and reported in Accumulated other comprehensive (loss) income, a component of equity on our consolidated balance sheets.

Government Grants

The Company receives grants from governments in support of certain of the Company’s business activities, primarily related to capital expenditures and research and development activities. Grants are generally received in the form of cash as either a recovery for expenses incurred, qualified assets purchased or as an incentive for meeting certain eligibility requirements that may be part of a grant agreement. Grant agreements terms generally extend for a period of up to 4 years. We account for funds we receive from government grants by either reducing the costs of the assets (if the grant relates to capital expenditures) or expenses which could be Cost of goods sold, Selling, general and administrative, and Research and development expenses in the consolidated statements of income once the conditions and restrictions of the grant have been met and payment has been received. If the funds we receive cannot be attributed to specific assets or expenses, they would be recognized as other income, and included in Interest income and other income, net in the consolidated statements of income. Funds we receive from government grants are classified in our consolidated statements of cash flows as either Net cash provided by operating activities or Net cash provided by investing activities, in accordance with how we expend the funds. When a grant is received before conditions of the grant have been met, the grant is recorded in Accrued liabilities or Other liabilities in the Consolidated Balance Sheets. For the year ended October 31, 2023, grants recorded in the Company’s Consolidated Financial Statements were not material.

Income Taxes

The income tax provision is computed on the basis of the income or loss before income taxes for each entity in its respective tax jurisdiction. Deferred income taxes reflect the tax effects of differences between the carrying amounts of assets and liabilities for financial reporting purposes and their amounts used for income tax purposes, as well as the tax effects of net operating losses and tax credit carryforwards. We employ judgment and make assumptions when establishing valuation allowances for deferred income tax assets, if their realization is not deemed to be more likely than not, by considering future market growth, operating forecasts, future taxable income, and the mix of earnings among the tax jurisdictions in which we operate. Accordingly, income taxes charged against earnings may have been impacted by changes in the valuation allowances. We are eligible for investment tax credits in U.S. and non-U.S. tax jurisdictions. We account for investment tax credits under the “flow-through” method of accounting. As permitted in ASC 740 “Income Taxes”, under the flow-through method of accounting, the tax benefit from an investment tax credit is recorded as a reduction of income taxes in the period in which the credit is generated.

We consider income taxes in each of the tax jurisdictions in which we operate in order to determine our effective income tax rate. Our current income tax expense is thus identified, and temporary differences resulting from differing treatments of items for tax and financial reporting purposes are assessed. These differences result in deferred tax assets, which are presented on our consolidated balance sheets, and deferred tax liabilities, which are included in Other liabilities on our consolidated balance sheets.

We account for uncertain tax positions by recording a liability for unrecognized tax benefits resulting from uncertain tax positions taken, or expected to be taken, in our tax returns. We include any applicable interest and penalties related to uncertain tax positions in the liability and in our income tax provision.

Earnings Per Share

Basic earnings per share (“EPS”) is based on the weighted-average number of common shares outstanding for the period, excluding any dilutive common share equivalents. Diluted EPS reflects the potential dilution that could occur if certain share-based payment awards were exercised or earned.

Variable Interest Entities

We account for the investments we make in certain legal entities in which equity investors do not have: 1) sufficient equity at risk for the legal entity to finance its activities without additional subordinated financial support or, 2) as a group, the holders of the equity investment at risk do not have either the power, through voting or similar rights, to direct the activities of the legal entity that most significantly impact the entity’s economic performance or, 3) the obligation to absorb the expected losses of the legal entity or the right to receive expected residual returns of the legal entity as “variable interest entities”, or “VIEs”.

We consolidate the results of any such entity in which we have determined that we have a controlling financial interest. We would have a “controlling financial interest” (and thus be considered the “primary beneficiary” of the entity) in such an entity when we have both the power to direct the activities that most significantly affect the VIE’s economic performance and the obligation to absorb the losses of, or right to receive the benefits from, the VIE that could be potentially significant to the VIE. On a quarterly basis, we reassess whether we have a controlling financial interest in any investments we have in these entities.

We would account for investments we make in VIEs in which we have determined that we do not have a controlling financial interest but have a significant influence over, and hold at least a twenty percent ownership interest in, using the equity method. An investment not meeting the parameters to be accounted for under the equity method would be accounted for using the cost method, unless the investment had a readily determinable fair value, at which value it would then be reported.

REVENUE (Tables)

12 Months Ended

Oct. 31, 2023

REVENUE [Abstract]

Disaggregation of Revenue

The following tables present our revenue for the years ended October 31, 2023, October 31, 2022, and October 31, 2021, disaggregated by product type, geographic origin, and timing of recognition.

	Year Ended
Revenue by Product Type	October 31, 2023		October 31, 2022		October 31, 2021
IC
High-end	$	194,939	$	195,332	$	162,973
Mainstream		456,340		397,694		297,198
Total IC	$	651,279	$	593,026	$	460,171

FPD
High-end	$	200,842	$	186,988	$	155,670
Mainstream		39,955		44,535		47,920
Total FPD	$	240,797	$	231,523	$	203,590
	$	892,076	$	824,549	$	663,761

	Year Ended
Revenue by Geographic Origin*	October 31, 2023		October 31, 2022		October 31, 2021
Taiwan	$	316,889	$	291,342	$	248,597
China		245,378		212,598		115,732
Korea		162,235		156,139		156,391
United States		128,879		126,205		105,023
Europe		36,579		36,402		36,242
Other		2,116		1,863		1,776
	$	892,076	$	824,549	$	663,761

* This table disaggregates revenue by the location in which it was earned.

	Year Ended
Revenue by Timing of Recognition	October 31, 2023		October 31, 2022		October 31, 2021
Over time	$	838,628	$	758,359	$	606,332
At a point in time		53,448		66,190		57,429
	$	892,076	$	824,549	$	663,761

Contract Balances

The following table provides information about our contract balances at the balance sheet dates.

Classification	October 31, 2023		October 31, 2022
Contract Assets
Other current assets	$	10,984	$	15,752

Contract Liabilities
Accrued liabilities	$	9,965	$	18,872
Other liabilities		12,454		4,989
	$	22,419	$	23,861

The following table presents revenue recognized from contract liabilities that existed at the beginning of the reporting periods.

		October 31, 2023				October 31, 2022				October 31, 2021
Revenue recognized from beginning liability		$	13,966			$	8,934			$	5,300

DEBT, Hefei Equipment Loan (Details) - Hefei Equipment Loan [Member] ¥ in Millions, $ in Millions	1 Months Ended		12 Months Ended
	Jul. 31, 2022 USD ($)	Jul. 31, 2022 CNY (¥)	Oct. 31, 2023 Tool	Oct. 31, 2020 CNY (¥)
Debt Instruments [Abstract]
Maximum borrowing capacity \| ¥				¥ 200.0
Repayment of long term debt	$ 18.0	¥ 120.7
Expiration date			Aug. 31, 2022
Number of lithography tools purchased \| Tool			2

DEBT, Finance Leases (Details) - USD ($) $ in Thousands	1 Months Ended
DEBT, Finance Leases (Details) - USD ($) $ in Thousands	Feb. 28, 2021	Jan. 31, 2021	Oct. 31, 2023	Oct. 31, 2022	Oct. 31, 2020
Debt Instruments [Abstract]
Finance lease amount			$ 24,619	$ 31,083
$7.2 Million Finance Lease [Member]
Debt Instruments [Abstract]
Finance lease contract term			5 years
Finance lease amount	$ 7,200
Early buyout option to purchase tool	$ 2,400
Finance lease interest implicit rate	1.08%
$7.2 Million Finance Lease [Member] \| Monthly [Member]
Debt Instruments [Abstract]
Finance lease monthly payments	$ 100
$35.5 Million Finance Lease [Member]
Debt Instruments [Abstract]
Finance lease contract term			5 years
Finance lease amount					$ 35,500
Early buyout option to purchase tool		$ 14,100
Finance lease interest implicit rate		1.58%
$35.5 Million Finance Lease [Member] \| First Three Months [Member]
Debt Instruments [Abstract]
Finance lease monthly payments		$ 40
$35.5 Million Finance Lease [Member] \| Following Nine Months [Member]
Debt Instruments [Abstract]
Finance lease monthly payments		600
$35.5 Million Finance Lease [Member] \| Forty Eight Months [Member]
Debt Instruments [Abstract]
Finance lease monthly payments		500
$35.5 Million Finance Lease [Member] \| Minimum [Member]
Debt Instruments [Abstract]
Outstanding committed balance for cross default provision		$ 5,000

RISKS AND CONCENTRATIONS (Tables)

12 Months Ended

Oct. 31, 2023

Concentration Risk [Line Items]

Long-Lived Assets by Geographic Area

As of the balance sheet dates, our long-lived assets and net assets were, by geographic area, as presented below.

	October 31, 2023					October 31, 2022
	Long-lived Assets		Net Assets			Long-lived Assets		Net Assets
China	$	249,357	$	317,409		$	242,712	$	257,855
Taiwan		199,313		489,722			155,690		393,795
United States		140,733		188,712			132,915		183,909
Korea		119,438		281,941			109,892		229,501
Europe and Other		7,294		(2,175	)		6,758		(2,971	)
	$	716,135	$	1,275,609		$	647,967	$	1,062,089

Accounts Receivable [Member]

Concentration Risk [Line Items]

Concentration of Risk Factor

The following table presents the percentages of our net accounts receivable attributable to customers that accounted for more than ten percent of the total balance as of the balance sheet dates.

	October 31, 2023			October 31, 2022
Customer A		21	%		16	%
Customer B		10	%		16	%

Revenue [Member]

Concentration Risk [Line Items]

Concentration of Risk Factor

The following table presents the percentages of our revenue attributable to customers that accounted for more than ten percent of the total revenue during the reporting periods.

	Year Ended
	October 31, 2023			October 31, 2022			October 31, 2021
Customer A		14	%		15	%		17	%
Customer B		13	%		5	%		3	%
Customer C		10	%		11	%		12	%

DEBT, Corporate Credit Agreement (Details) - Corporate Credit Agreement [Member] - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2023	Sep. 30, 2018
Debt Instruments [Abstract]
Term of loan	5 years
Current borrowing capacity		$ 50
Maximum borrowing capacity		100
Cash limit for dividends, distributions and redemption on equity		$ 50
Amount outstanding	$ 0

LEASES, Future Lease Payments Under Noncancelable Operating and Finance Leases (Details) - USD ($) $ in Thousands	Oct. 31, 2023	Oct. 31, 2022
Future Lease Payments Under Noncancelable Operating Leases [Abstract]
2024	$ 2,015
2025	1,712
2026	1,327
2027	1,088
2028	247
Total lease payments	6,389
Imputed interest	(259)
Operating lease liabilities	6,130	$ 3,282
Future Lease Payments Under Noncancelable Finance Leases [Abstract]
2024	6,951
2025	18,026
2026	13
2027	13
2028	1
Total lease payments	25,004
Imputed interest	(385)
Finance lease liabilities	$ 24,619	$ 31,083

OTHER CURRENT ASSETS (Tables)

12 Months Ended

Oct. 31, 2023

OTHER CURRENT ASSETS [Abstract]

Other Current Assets

Presented below are the components of Other current assets at the balance sheet dates.

	October 31, 2023		October 31, 2022
Contract assets	$	10,984	$	15,752
Prepaid expenses		10,031		8,263
Other		2,537		814
Prepaid and refundable income taxes		2,489		9,709
Recoverable value added taxes		2,312		2,714
	$	28,353	$	37,252

SHARE-BASED COMPENSATION

12 Months Ended

Oct. 31, 2023

SHARE-BASED COMPENSATION [Abstract]

SHARE-BASED COMPENSATION

NOTE 11 - SHARE-BASED COMPENSATION

In March 2016, shareholders approved our current equity incentive compensation plan (“the Plan”), under which incentive stock options, non-qualified stock options, stock grants, stock-based awards, restricted stock, restricted stock units, stock appreciation rights, performance units, performance stock, and other stock or cash awards may be granted. Shares to be issued under the Plan may be authorized and unissued shares, issued shares that have been reacquired by us (in the open market or in private transactions), or a combination thereof. The maximum number of shares of common stock approved that may be issued under the Plan is four million shares. On March 16, 2023, at its annual meeting of shareholders, the shareholders of Photronics, Inc., approved amendments to the Plan to increase the number of shares available for issuance by an additional one million shares, thereby increasing the shares available for issuance under the Plan from four million to five million. Awards may be granted to officers, employees, directors, consultants, advisors, and independent contractors of Photronics or its subsidiaries. In the event of a change in control (as defined in the Plan) or at the discretion of the compensation committee; the vesting of awards may be accelerated. The Plan, aspects of which are more fully described below, prohibits further awards from being issued under prior plans. The table below presents information on our share-based compensation expenses for the three most recent fiscal years.

	Year Ended
	October 31, 2023		October 31, 2022		October 31, 2021
Expense reported in:
Cost of goods sold	$	1,259	$	868	$	446
Selling, general, and administrative		5,962		4,803		4,446
Research and development		780		637		456
Total expense incurred	$	8,001	$	6,308	$	5,348

Expense by award type:
Restricted stock awards	$	7,909	$	5,800	$	4,920
Stock options		1		298		218
Employee stock purchase plan		91		210		210
Total expense incurred	$	8,001	$	6,308	$	5,348

Income tax benefits of share-based compensation	$	715	$	449	$	233
Share-based compensation cost capitalized	$	-	$	-	$	-

Restricted Stock Awards

We periodically grant restricted stock awards, the restrictions on which typically lapse over a service period of one to four years. The fair values of the awards are determined on the date of grant, based on the closing stock price of our common stock. A summary of restricted stock award activity during 2023 and the status of our restricted stock awards as of October 31, 2023, is presented below.

Restricted Stock	Shares			Weighted-Average Fair Value at Grant Date
Outstanding at October 31, 2022		893,704		$	15.62
Granted		791,925		$	16.84
Vested		(417,432	)	$	14.98
Cancelled		(29,900	)	$	16.48
Outstanding at October 31, 2023		1,238,297		$	16.27
Expected to vest as of October 31, 2023		1,117,128		$	16.21

The table below presents additional information on our restricted stock awards for the three most recent fiscal years.

	Year Ended
	October 31, 2023		October 31, 2022		October 31, 2021
Number of shares granted		791,925		654,224		564,800
Weighted-average grant-date fair value of awards (in dollars per share)	$	16.84	$	18.73	$	11.20
Compensation costs not yet recognized	$	12,760	$	8,949	$	7,300
Weighted-average amortization period (in years)		2.8		2.7		2.6
Fair value of awards for which restrictions lapsed	$	6,256	$	5,212	$	4,491
Shares outstanding at balance sheet date		1,238,297		893,704		929,147

Stock Options

Option awards generally vest in one to four years and have a ten-year contractual term. All incentive and non-qualified stock option grants must have an exercise price no less than the market value of the underlying common stock on the date of grant. The grant-date fair values of options are based on closing prices of our common stock on the dates of grant and are calculated using the Black-Scholes option pricing model. Expected volatility is based on the historical volatility of our common stock. We use historical option exercise behavior and employee termination data to estimate expected term, which represents the period of time that options granted are expected to remain outstanding. The risk-free rate of return for the estimated term of an option is based on the U.S. Treasury yield curve in effect at the date of grant.

The table below presents a summary of stock options activity during 2023 and information on stock options outstanding at October 31, 2023.

	Shares			Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Life	Aggregate Intrinsic Value
Outstanding at October 31, 2022		614,001		$	9.74
Granted		-		$	-
Exercised		(137,226	)	$	8.24
Cancellations, forfeitures, and adjustments		(4,500	)	$	10.18
Outstanding at October 31, 2023		472,275		$	10.18	2.5 years	$	3,865
Exercisable at October 31, 2023		472,275		$	10.18	2.5 years	$	3,865
Expected to vest as of October 31, 2023		-		$	-	- years	$	-

The table below presents additional information on stock option awards for the three most recent fiscal years.

	Year Ended
	October 31, 2023		October 31, 2022		October 31, 2021
Number of options granted in period		-		-		-
Total intrinsic value of options exercised	$	1,654	$	5,108	$	1,910
Cash received from option exercises	$	1,101	$	5,275	$	3,441
Compensation cost not yet recognized	$	-	$	13	$	109
Weighted-average amortization period for cost not yet recognized (in years)		-		0.2		1.1

Employee Stock Purchase Plan

Our Employee Stock Purchase Plan (“ESPP”) permits employees to purchase Photronics, Inc. common shares at 85% of the lower of the closing market price at the commencement or ending date of the Plan year (which is approximately one year from the commencement date). We recognize the ESPP expense over that same period. As of October 31, 2023, the maximum number of shares of common stock approved by our shareholders to be purchased under the ESPP was 1.85 million shares, of which approximately 1.6 million shares had been issued through October 31, 2023. As of October 31, 2023, there is no unrecognized compensation cost. As of October 31, 2022, there were less than 0.1 million shares with unrecognized compensation cost of less than $0.1 million that was recognized in fiscal year 2023.

LEASES

12 Months Ended

Oct. 31, 2023

LEASES [Abstract]

LEASES

NOTE 10 - LEASES

The following table provides information on operating and finance leases included in our consolidated balance sheets.

Classification	October 31, 2023		October 31, 2022

ROU Assets – Operating Leases
Other assets	$	6,189	$	3,341

ROU Assets – Finance Leases
Property, plant and equipment, net	$	35,165	$	37,976

Lease Liabilities – Operating Leases
Accrued liabilities	$	1,912	$	1,354
Other liabilities		4,218		1,928
	$	6,130	$	3,282

Lease Liabilities – Finance Leases
Current portion of long-term debt	$	6,621	$	6,512
Long-term debt		17,998		24,571
	$	24,619	$	31,083

The following table presents future lease payments under noncancelable operating and finance leases as of October 31, 2023. Imputed interest represents the difference between undiscounted cash flows and discounted cash flows.

Fiscal Year	Operating Leases			Finance Leases
2024	$	2,015		$	6,951
2025		1,712			18,026
2026		1,327			13
2027		1,088			13
2028		247			1
Total lease payments	$	6,389		$	25,004
Imputed interest		(259	)		(385	)
Lease liabilities	$	6,130		$	24,619

The following table presents lease costs for 2023, 2022, and 2021.

	Year Ended
	October 31, 2023		October 31, 2022		October 31, 2021
Operating lease costs	$	2,278	$	2,253	$	2,904
Short-term lease costs	$	462	$	469	$	232
Variable lease costs	$	656	$	603	$	498
Interest on finance lease	$	426	$	522	$	510
Amortization of ROU assets	$	2,870	$	2,917	$	1,867

The following table presents statistical information related to our operating and finance leases. The information presented is as of the balance sheet dates.

	October 31, 2023					October 31, 2022
Classification	Weighted- average remaining lease term (in years)		Weighted- average discount rate			Weighted- average remaining lease term (in years)		Weighted- average discount rate
Operating leases		3.7		2.4	%		3.1		2.3	%
Finance leases		1.2		1.5	%		2.2		1.5	%

The following table presents the effects of leases on our 2023, 2022, and 2021 consolidated statements of cash flows, and provides leases-related non-cash information for those years.

	Year Ended
	October 31, 2023		October 31, 2022		October 31, 2021
Operating cash flows used for operating leases	$	2,271	$	2,259	$	2,442
Operating cash flows used for finance leases	$	429	$	566	$	464
Financing cash flows used for finance leases	$	6,521	$	7,289	$	4,323
ROU assets obtained in exchange for operating lease obligations	$	5,116	$	513	$	457
ROU assets obtained in exchange for finance lease obligations	$	-	$	-	$	42,672

SHARE REPURCHASE PROGRAMS

12 Months Ended

Oct. 31, 2023

SHARE REPURCHASE PROGRAMS [Abstract]

SHARE REPURCHASE PROGRAMS

NOTE 20 - SHARE REPURCHASE PROGRAMS

In September 2020, the Company’s Board of Directors authorized the repurchase of up to $100 million of its common stock, pursuant to a repurchase plan under Rule 10b5-1 of the Securities Act. The most recent 10b5-1 plan expired on September 15, 2022, and has not been renewed. Share repurchases under this authorization commenced on September 16, 2020. The repurchase authorization by the Board of Directors has no expiration date, does not obligate us to acquire any common stock, and is subject to market conditions. In 2023, we did not repurchase any further shares as part of this program. In 2022, we repurchased 0.2 million shares at a cost of $2.5 million (an average of $13.43 per share) and, since the program’s inception, we have repurchased 5.8 million shares at a cost of $68.3 million (an average of $11.70 per share). There is $31.7 million remaining under the Board of Director authorization. All shares repurchased under the program have been retired.

In August 2019, the Company’s board of directors authorized the repurchase of up to $100 million of its common stock, pursuant to a repurchase plan under Rule 10b5-1 of the Securities Act. The share repurchase program commenced on September 25, 2019, and was terminated on March 20, 2020.

	2023 Purchases		2022 Purchases		2021 Purchases
Number of shares repurchased		0		187		3,919

Cost of shares repurchased	$	0	$	2,522	$	48,249

Average price paid per share	$	0	$	13.43	$	12.31

PDMCX JOINT VENTURE (Policies)	12 Months Ended
PDMCX JOINT VENTURE (Policies)	Oct. 31, 2023
PDMCX JOINT VENTURE [Abstract]
Variable Interest Entities	As required by the guidance in ASC Topic 810 - “Consolidation”, we evaluated our involvement in PDMCX for the purpose of determining whether we should consolidate its results in our financial statements. The initial step of our evaluation was to determine whether PDMCX was a VIE. Due to its lack of sufficient equity at risk to finance its activities without additional subordinated financial support, we determined that it is a VIE. Having made this determination, we then assessed whether we were the primary beneficiary of the VIE, and concluded that we were the primary beneficiary during the current and prior years reporting periods; thus, as required, the PDMCX financial results have been consolidated with Photronics. Our conclusion was based on the fact that we held a controlling financial interest in PDMCX (which resulted from our having the power to direct the activities that most significantly impacted its economic performance) and had both the obligation to absorb losses and the right to receive benefits that could potentially be significant to PDMCX. Our conclusions that we had the power to direct the activities that most significantly affected the economic performance of PDMCX during the current and prior year periods were based on our right to appoint the majority of its board of directors, which has, among others, the powers to manage the business (through its rights to appoint and evaluate PDMCX’s management), incur indebtedness, enter into agreements and commitments, and acquire and dispose of PDMCX’s assets. In addition, as a result of the 50.01% variable interest we held during the current and prior year periods, we had the obligation to absorb losses, and the right to receive benefits, that could potentially be significant to PDMCX.

PROPERTY, PLANT AND EQUIPMENT, NET (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Aug. 01, 2021	Oct. 31, 2023	Oct. 31, 2022	Oct. 31, 2021
Property, plant and equipment [Abstract]
Property, plant and equipment, gross		$ 2,209,453	$ 2,072,639
Accumulated depreciation and amortization		(1,500,209)	(1,428,766)
Property, plant and equipment, net		709,244	643,873
Gain on trade-in of lithography tool	$ 3,500	0	(17)	$ 3,525
Finance lease, Right-of-use asset [Abstract]
Finance lease, right-of-use asset, gross		42,820	42,760
Accumulated amortization		(7,655)	(4,784)
Finance lease, right-of-use asset, net		35,165	37,976
Depreciation Expense [Abstract]
Depreciation Expense		80,472	79,971	$ 87,535
Land [Member]
Property, plant and equipment [Abstract]
Property, plant and equipment, gross		11,378	11,134
Buildings and Improvements [Member]
Property, plant and equipment [Abstract]
Property, plant and equipment, gross		185,850	168,024
Machinery and Equipment [Member]
Property, plant and equipment [Abstract]
Property, plant and equipment, gross		1,922,041	1,769,478
Leasehold Improvements [Member]
Property, plant and equipment [Abstract]
Property, plant and equipment, gross		18,894	18,802
Furniture, Fixtures and Office Equipment [Member]
Property, plant and equipment [Abstract]
Property, plant and equipment, gross		15,856	14,355
Construction in Progress [Member]
Property, plant and equipment [Abstract]
Property, plant and equipment, gross		$ 55,434	$ 90,846

SHARE-BASED COMPENSATION (Policies)	12 Months Ended
SHARE-BASED COMPENSATION (Policies)	Oct. 31, 2023
Stock Options [Abstract]
Share-Based Compensation	Share-Based Compensation We recognize share-based compensation expense over the service period during which the awards are expected to vest. Share-based compensation expense includes the estimated effects of forfeitures, which are adjusted over the requisite service period to the extent actual forfeitures differ, or are expected to differ, from such estimates. Changes in estimated forfeitures are recognized in the period of change and will impact the amount of expense to be recognized in future periods. Determining the appropriate option pricing model, calculating the grant date fair value of share-based awards, and estimating forfeiture rates requires considerable judgment, including estimations of stock price volatility and the expected term of options granted. We use the Black-Scholes option pricing model to value employee stock options. We estimate stock price volatility based on daily averages of our common stock’s historical volatility over a term approximately equal to the estimated time period the grant will remain outstanding. The expected term of options and forfeiture rate assumptions are derived from historical data.
Employee Stock Purchase Plan	Employee Stock Purchase Plan Our Employee Stock Purchase Plan (“ESPP”) permits employees to purchase Photronics, Inc. common shares at 85% of the lower of the closing market price at the commencement or ending date of the Plan year (which is approximately one year from the commencement date). We recognize the ESPP expense over that same period. As of October 31, 2023, the maximum number of shares of common stock approved by our shareholders to be purchased under the ESPP was 1.85 million shares, of which approximately 1.6 million shares had been issued through October 31, 2023. As of October 31, 2023, there is no unrecognized compensation cost. As of October 31, 2022, there were less than 0.1 million shares with unrecognized compensation cost of less than $0.1 million that was recognized in fiscal year 2023.
Restricted Stock [Member]
Stock Options [Abstract]
Share-Based Compensation	Restricted Stock Awards We periodically grant restricted stock awards, the restrictions on which typically lapse over a service period of one to four years. The fair values of the awards are determined on the date of grant, based on the closing stock price of our common stock.
Employee Stock Option [Member]
Stock Options [Abstract]
Share-Based Compensation	Stock Options Option awards generally vest in one to four years and have a ten-year contractual term. All incentive and non-qualified stock option grants must have an exercise price no less than the market value of the underlying common stock on the date of grant. The grant-date fair values of options are based on closing prices of our common stock on the dates of grant and are calculated using the Black-Scholes option pricing model. Expected volatility is based on the historical volatility of our common stock. We use historical option exercise behavior and employee termination data to estimate expected term, which represents the period of time that options granted are expected to remain outstanding. The risk-free rate of return for the estimated term of an option is based on the U.S. Treasury yield curve in effect at the date of grant.

- Definition

Disclosure of accounting policy for award under share-based payment arrangement. Includes, but is not limited to, methodology and assumption used in measuring cost.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(ii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(v)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 14.C.Q3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479830/718-10-S99-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 14.D.1.Q5)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479830/718-10-S99-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 14.D.3.Q2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479830/718-10-S99-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 14.D.2.Q6)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479830/718-10-S99-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//718/tableOfContent

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

+ Details

OTHER CURRENT ASSETS (Details) - USD ($) $ in Thousands	Oct. 31, 2023	Oct. 31, 2022
OTHER CURRENT ASSETS [Abstract]
Contract assets	$ 10,984	$ 15,752
Prepaid expenses	10,031	8,263
Other	2,537	814
Prepaid and refundable income taxes	2,489	9,709
Recoverable value added taxes	2,312	2,714
Total other current assets	$ 28,353	$ 37,252

FAIR VALUE MEASUREMENTS (Policies)	12 Months Ended
FAIR VALUE MEASUREMENTS (Policies)	Oct. 31, 2023
FAIR VALUE MEASUREMENTS [Abstract]
Fair Value Financial Instruments	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, defined as quoted market prices (unadjusted) in active markets for identical securities; Level 2, defined as inputs other than Level 1 that are observable, either directly or indirectly; and Level 3, defined as unobservable inputs that are not corroborated by market data.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Business (Details)	12 Months Ended
	Oct. 31, 2023 Facility
Manufacturing Facilities [Abstract]
Number of manufacturing facilities	11
Taiwan [Member]
Manufacturing Facilities [Abstract]
Number of manufacturing facilities	3
China [Member]
Manufacturing Facilities [Abstract]
Number of manufacturing facilities	2
Korea [Member]
Manufacturing Facilities [Abstract]
Number of manufacturing facilities	1
United States [Member]
Manufacturing Facilities [Abstract]
Number of manufacturing facilities	3
Europe [Member]
Manufacturing Facilities [Abstract]
Number of manufacturing facilities	2

EARNINGS PER SHARE

12 Months Ended

Oct. 31, 2023

EARNINGS PER SHARE [Abstract]

EARNINGS PER SHARE

NOTE 14 - EARNINGS PER SHARE

The calculation of basic and diluted earnings per share is presented below.

	Year Ended
	October 31, 2023		October 31, 2022		October 31, 2021
Net income attributable to Photronics, Inc. shareholders	$	125,485	$	118,786	$	55,449
Effect of dilutive securities		-		-		-

Earnings used for diluted earnings per share	$	125,485	$	118,786	$	55,449

Weighted-average common shares computations:
Weighted-average common shares used for basic earnings per share		61,139		60,559		61,407
Effect of dilutive securities:
Share-based payment awards		616		630		592
Potentially dilutive common shares		616		630		592

Weighted-average common shares used for diluted earnings per share		61,755		61,189		61,999

Basic earnings per share	$	2.05	$	1.96	$	0.90
Diluted earnings per share	$	2.03	$	1.94	$	0.89

The table below sets forth the outstanding weighted-average share-based payment awards that were excluded from the calculation of diluted earnings per share because their exercise price exceeded the average market value of the common shares for the period or, under application of the treasury stock method, they were otherwise determined to be antidilutive.

	Year Ended
	October 31, 2023		October 31, 2022		October 31, 2021
Share based payment awards		136		314		331
Total potentially dilutive shares excluded		136		314		331

Consolidated Statements of Comprehensive (Loss) Income - USD ($) $ in Thousands	12 Months Ended
	Oct. 31, 2023	Oct. 31, 2022	Oct. 31, 2021
Consolidated Statements of Comprehensive (Loss) Income [Abstract]
Net income	$ 199,634	$ 179,242	$ 78,816
Other comprehensive income (loss), net of tax of $0:
Foreign currency translation adjustments	5,615	(151,209)	8,478
Other	(3)	423	(69)
Net other comprehensive income (loss)	5,612	(150,786)	8,409
Comprehensive income	205,246	28,456	87,225
Less: comprehensive income attributable to noncontrolling interests	70,039	28,697	29,163
Comprehensive income (loss) attributable to Photronics, Inc. shareholders	$ 135,207	$ (241)	$ 58,062

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income (loss) and other comprehensive income (loss), attributable to noncontrolling interests. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

Amount after tax and reclassification adjustments of other comprehensive income (loss).

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-SubTopic 10
-Topic 505
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481674/830-30-50-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 17
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481694/830-30-45-17

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(19))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482765/220-10-50-4

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482765/220-10-50-5

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 20
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481694/830-30-45-20

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(21))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(23))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1B
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482790/220-10-45-1B

Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 55
-Paragraph 15
-SubTopic 10
-Topic 220
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482739/220-10-55-15

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1A
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482790/220-10-45-1A

+ Details

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481687/323-10-50-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 28
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482907/825-10-50-28

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-8

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-9

Reference 8: http://www.xbrl.org/2003/role/exampleRef
-Topic 946
-SubTopic 830
-Name Accounting Standards Codification
-Section 55
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480167/946-830-55-11

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 205
-Name Accounting Standards Codification
-Section 45
-Paragraph 3
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480767/946-205-45-3

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section 45
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483581/946-220-45-7

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(16))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(9))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(1)(d))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-3

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 19
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481231/810-10-45-19

Reference 16: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482765/220-10-50-6

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 18: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(ii))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(B))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 29: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 235
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-05(b)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479557/942-235-S99-1

Reference 32: http://www.xbrl.org/2003/role/disclosureRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483499/205-20-50-7

Reference 33: http://www.xbrl.org/2003/role/exampleRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 4J
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481175/810-10-55-4J

Reference 34: http://www.xbrl.org/2003/role/exampleRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 4K
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481175/810-10-55-4K

Reference 35: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482790/220-10-45-1A

Reference 36: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482790/220-10-45-1B

Reference 37: http://www.xbrl.org/2003/role/disclosureRef
-Topic 230
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482740/230-10-45-2

Reference 38: http://www.xbrl.org/2003/role/disclosureRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481203/810-10-50-1A

Reference 39: http://www.xbrl.org/2003/role/disclosureRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Subparagraph (c)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481203/810-10-50-1A

+ Details

FAIR VALUE MEASUREMENTS (Details) - USD ($) $ in Thousands	Oct. 31, 2023	Oct. 31, 2022
Fair Value, Assets and Liability [Abstract]
Total assets	$ 0	$ 0
Total liabilities	$ 0	$ 0

ACCOUNTS RECEIVABLE (Details) - USD ($) $ in Thousands	Oct. 31, 2023	Oct. 31, 2022
ACCOUNTS RECEIVABLE [Abstract]
Accounts Receivable	$ 171,433	$ 178,303
Unbilled Receivable	24,593	20,846
Allowance for Credit Losses	(1,099)	(1,002)
Total	$ 194,927	$ 198,147

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

12 Months Ended

Oct. 31, 2023

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]

Consolidation

Estimates and Assumptions

Cash and Cash Equivalents

Investments

Investments consist of U. S. government securities and are classified as available-for-sale. We classify available-for-sale securities on our consolidated balance sheet 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

As of October 31, 2023, and October 31, 2022, all of our available-for-sale securities had remaining maturities less than one year, and have been classified as Short-term investments.

	October 31, 2023									October 31, 2022
	Amortized Cost		Unrealized Gains		Unrealized Losses			Carrying Value		Amortized Cost		Unrealized Gains		Unrealized Losses			Carrying Value
Government securities	$	12,913	$	4	$	(2	)	$	12,915	$	38,911	$	-	$	(91	)	$	38,820

Accounts Receivable, Unbilled Receivables and Allowance for Credit Losses

Inventories

Property, Plant and Equipment

Impairment of Long-Lived Assets

Restricted Cash

Treasury Stock

Revenue Recognition

Contract Assets, Contract Liabilities, and Accounts Receivable

Contract Costs

Remaining Performance Obligations

Product Warranties

Leases

Share-Based Compensation

Research and Development

Foreign Currency Translation

Government Grants

Income Taxes

Earnings Per Share

Variable Interest Entities

Document and Entity Information - USD ($)	12 Months Ended
Document and Entity Information - USD ($)	Oct. 31, 2023	Dec. 14, 2023	Apr. 30, 2023
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Annual Report	true
Document Period End Date	Oct. 31, 2023
Current Fiscal Year End Date	--10-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Document Transition Report	false
Entity File Number	0-15451
Entity Registrant Name	PHOTRONICS, INC.
Entity Central Index Key	0000810136
Entity Incorporation, State or Country Code	CT
Entity Tax Identification Number	06-0854886
Entity Address, Address Line One	15 Secor Road
Entity Address, City or Town	Brookfield
Entity Address, State or Province	CT
Entity Address, Postal Zip Code	06804
City Area Code	203
Local Phone Number	775-9000
Title of 12(b) Security	COMMON
Trading Symbol	PLAB
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 879,109,827
Entity Common Stock, Shares Outstanding		62,604,986
Auditor Firm ID	34
Auditor Name	Deloitte & Touche LLP
Auditor Location	Boston, Massachusetts

DEBT, Long-term Debt (Details)
$ in Thousands, ¥ in Millions

1 Months Ended

3 Months Ended

12 Months Ended

Feb. 28, 2023

USD ($)

Feb. 28, 2023

CNY (¥)

Dec. 31, 2022

USD ($)

Dec. 31, 2022

CNY (¥)

Jul. 31, 2022

USD ($)

Jul. 31, 2022

CNY (¥)

Apr. 30, 2023

USD ($)

Apr. 30, 2023

CNY (¥)

Oct. 31, 2023

USD ($)

Oct. 31, 2022

USD ($)

Oct. 31, 2022

CNY (¥)

Long Term Debt Maturing In Year One [Abstract]

Next 12 months

$ 10,024

Long-term debt [Abstract]

6,610

19,059

6,641

$ 17,998

32,310

Xiamen Project Loans [Member]

Long Term Debt Maturing In Year One [Abstract]

Next 12 months

Long-term debt [Abstract]

1,098

6,641

$ 7,739

$ 0

Basis spread on interest rates

0.00%

Maturity date

Dec. 31, 2025

Periodic payment amount

Varies as loans mature

^[1]

Varies as loans mature

^[2]

Varies as loans mature

^[2]

Periodic payment frequency

Semiannual, on individual loans

Loan collateral (carrying amount)

$ 70,705

Repayment of long term debt

$ 3,900

¥ 26.4

$ 3,900

¥ 26.4

$ 11,500

¥ 81.0

Xiamen Project Loans [Member] | Minimum [Member]

Long-term debt [Abstract]

Interest rate at balance sheet date

4.30%

Xiamen Project Loans [Member] | Maximum [Member]

Long-term debt [Abstract]

Interest rate at balance sheet date

4.45%

Xiamen Project Loans [Member] | Due Date June 2025 [Member]

Long-term debt [Abstract]

Repayment of long term debt | ¥

2.0

Xiamen Project Loans [Member] | Due Date December 2025 [Member]

Long-term debt [Abstract]

Repayment of long term debt | ¥

¥ 24.4

Xiamen Working Capital Loans [Member]

Long Term Debt Maturing In Year One [Abstract]

Next 12 months

$ 3,512

Long-term debt [Abstract]

$ 0

$ 0

Interest rate at balance sheet date

4.46%

Basis spread on interest rates

0.76%

Maturity date

Jul. 31, 2023

Periodic payment amount

Increases as loans mature

Periodic payment frequency

Semiannual, on individual loans

Repayment of long term debt

$ 3,600

¥ 25.6

Hefei Equipment Loan [Member]

Long Term Debt Maturing In Year One [Abstract]

Next 12 months

$ 0

Long-term debt [Abstract]

$ 0

Jul. 31, 2022

Repayment of long term debt

$ 18,000

¥ 120.7

Finance Leases [Member]

Long Term Debt Maturing In Year One [Abstract]

Next 12 months

6,621

$ 6,512

Long-term debt [Abstract]

Months 13 - 24

17,972

6,610

17,961

17,998

$ 24,571

Total debt

$ 24,619

Interest rate at balance sheet date

^[3]

Maturity date

^[3]

Periodic payment amount

Varies as Lease mature

^[3]

Periodic payment frequency

Monthly

Loan collateral (carrying amount)

^[4]

$ 35,165

$ 37,976

[1]	During Q2 FY23, we repaid the entire balance of RMB 26.4 million (approximately $3.9 million) remaining on the loan, of which, RMB 2.0 million was due to be paid in June 2025 and RMB 24.4 million was due to be paid in December 2025.
[2]	During the three month period ended October 31, 2022, we repaid RMB 81.0 million (approximately $11.5 million) that had contractual maturity dates ranging from December 2023 through June 2025.
[3]	See Note 10 for interest rates on lease liabilities, maturity dates, and periodic payment amounts.
[4]	Represents the carrying amount at the balance sheet date of the related ROU assets, in which the lessors have secured interests.

SUBSIDIARY DIVIDENDS (Details) - USD ($) $ in Thousands	12 Months Ended
SUBSIDIARY DIVIDENDS (Details) - USD ($) $ in Thousands	Oct. 31, 2023	Oct. 31, 2022	Oct. 31, 2021
Noncontrolling Interest [Abstract]
Dividend paid to noncontrolling interest	$ 0	$ 0	$ 9,597
PDMC [Member]
Noncontrolling Interest [Abstract]
Ownership percentage of noncontrolling interests			49.99%
Dividend paid to noncontrolling interest	$ 0	$ 0	$ 9,600

INCOME TAXES (Policies)	12 Months Ended
INCOME TAXES (Policies)	Oct. 31, 2023
INCOME TAXES [Abstract]
Unremitted Earnings in Foreign Investment	Due to the Tax Cuts and Jobs Act, which was signed into law in December 2017, as of fiscal year end 2018, U.S. deferred taxes were no longer provided on the undistributed earnings of non-U.S. subsidiaries. Our policy to indefinitely reinvest these earnings in non-U.S. operations remains unchanged for the purpose of determining deferred tax liabilities for U.S. state and foreign withholding taxes. Therefore, should we elect in the future to repatriate the remaining foreign earnings deemed to be indefinitely reinvested, we may incur additional state and foreign withholding tax expense on those earnings, the amount of which is not practicable to compute.
Interest and Penalties Related to Uncertain Tax Positions	We include unrecognized tax benefits in Other liabilities, and we include any applicable interest and penalties related to uncertain tax positions in our income tax provision.

COMMITMENTS AND CONTINGENCIES (Tables)

12 Months Ended

Oct. 31, 2023

COMMITMENTS AND CONTINGENCIES [Abstract]

Unrecognized Commitments

Presented below are our unrecognized commitments, as of October 31, 2023. Included in these amounts are commitments of $106.8 million for the purchase of capital equipment. The amounts below do not include our commitments under our debt and lease arrangements, which are presented in Notes 8 and 10, respectively.

Fiscal Year	Unrecognized Commitments
2024	$	99,779
2025		27,182
2026		10,024
2027		79
2028		65
Thereafter		-
Total	$	137,129

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Oct. 31, 2023	Oct. 31, 2022	Oct. 31, 2021
Calculation of Basic and Diluted Earnings Per Share [Abstract]
Net income attributable to Photronics, Inc. shareholders	$ 125,485	$ 118,786	$ 55,449
Effect of dilutive securities	0	0	0
Earnings used for diluted earnings per share	$ 125,485	$ 118,786	$ 55,449
Weighted-average Common Shares Computations [Abstract]
Weighted-average common shares used for basic earnings per share (in shares)	61,139	60,559	61,407
Effect of Dilutive Securities [Abstract]
Share-based payment awards (in shares)	616	630	592
Potentially dilutive common shares (in shares)	616	630	592
Weighted-average common shares used for diluted earnings per share (in shares)	61,755	61,189	61,999
Basic earnings per share (in dollars per share)	$ 2.05	$ 1.96	$ 0.9
Diluted earnings per share (in dollars per share)	$ 2.03	$ 1.94	$ 0.89
Antidilutive Securities [Abstract]
Total potentially dilutive shares excluded (in shares)	136	314	331
Share-based Payment Awards [Member]
Antidilutive Securities [Abstract]
Total potentially dilutive shares excluded (in shares)	136	314	331

LEASES, Information on Operating and Finance Leases included on Balance Sheet (Details) - USD ($) $ in Thousands	Oct. 31, 2023	Oct. 31, 2022
Operating and Finance Leases included in Consolidated Balance Sheets [Abstract]
ROU Assets - Operating Leases	$ 6,189	$ 3,341
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Other Assets, Noncurrent	Other Assets, Noncurrent
ROU Assets - Finance Leases	$ 35,165	$ 37,976
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Property, Plant and Equipment, Net	Property, Plant and Equipment, Net
Operating Lease Liability [Abstract]
Operating Lease Liability - Current	$ 1,912	$ 1,354
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Accrued Liabilities, Current	Accrued Liabilities, Current
Operating Lease Liability, Noncurrent	$ 4,218	$ 1,928
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Other Liabilities, Noncurrent	Other Liabilities, Noncurrent
Lease Liabilities - Operating Leases	$ 6,130	$ 3,282
Finance Lease Liability [Abstract]
Finance Lease Liability, Current	$ 6,621	$ 6,512
Finance Lease, Liability, Current, Statement of Financial Position [Extensible List]	Long-Term Debt and Lease Obligation, Current	Long-Term Debt and Lease Obligation, Current
Finance Lease Liability, Noncurrent	$ 17,998	$ 24,571
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Long-Term Debt and Lease Obligation	Long-Term Debt and Lease Obligation
Lease Liabilities - Finance Leases	$ 24,619	$ 31,083

COMMITMENTS AND CONTINGENCIES (Details) $ in Thousands	Oct. 31, 2023 USD ($)
Commitment and Contingencies [Abstract]
Commitments for purchase of capital equipment	$ 106,800
Unrecognized Commitments [Abstract]
2024	99,779
2025	27,182
2026	10,024
2027	79
2028	65
Thereafter	0
Total	$ 137,129

ACCRUED LIABILITIES (Tables)

12 Months Ended

Oct. 31, 2023

ACCRUED LIABILITIES [Abstract]

Accrued Liabilities

Presented below are the components of Accrued liabilities at the balance sheet dates. Prior year amounts have been reclassified to conform to the current year presentation.

	October 31, 2023		October 31, 2022
Compensation related expenses	$	37,218	$	33,061
Income taxes		24,080		37,595
Contract liabilities		9,965		18,872
Property, plant, and equipment		6,624		2,989
Value added and other taxes		3,523		2,923
Service Contracts		2,613		762
Operating leases		1,912		1,354
Telecommunications and utilities		1,311		1,111
Other		7,332		5,540
Accrued liabilities	$	94,578	$	104,207

REVENUE, Contract Assets, Liabilities and Accounts Receivable (Details) - USD ($) $ in Thousands	12 Months Ended
	Oct. 31, 2023	Oct. 31, 2022	Oct. 31, 2021
Contract with Customer, Asset and Liability [Abstract]
Contract liabilities	$ 22,419	$ 23,861
Change in Contract with Customer, Liability [Abstract]
Revenue recognized from beginning liability	13,966	8,934	$ 5,300
Other Current Assets [Member]
Contract with Customer, Asset and Liability [Abstract]
Contract assets	10,984	15,752
Accrued Liabilities [Member]
Contract with Customer, Asset and Liability [Abstract]
Contract liabilities	9,965	18,872
Other Liabilities [Member]
Contract with Customer, Asset and Liability [Abstract]
Contract liabilities	$ 12,454	$ 4,989
Minimum [Member]
Revenue, Performance Obligation [Abstract]
Product invoice term	30 days
Maximum [Member]
Revenue, Performance Obligation [Abstract]
Product invoice term	90 days

Consolidated Statements of Equity - USD ($) shares in Thousands, $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Treasury Stock [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Non-Controlling Interests [Member]	Total
Balance at Oct. 31, 2020	$ 631	$ 507,336	$ 279,037	$ 0	$ 17,958	$ 157,304	$ 962,266
Balance (in shares) at Oct. 31, 2020	63,138
Net income	$ 0	0	55,449	0	0	23,367	78,816
Other comprehensive income (loss)	0	0	0	0	2,613	5,796	8,409
Shares issued under equity plans	$ 8	3,561	0	0	0	0	3,569
Shares issued under equity plans (in shares)	805
Share-based compensation expense	$ 0	5,348	0	0	0	0	5,348
Dividends to noncontrolling interest	0	0	0	0	0	(9,597)	(9,597)
Purchase of treasury stock	$ 0	0	0	(48,249)	0	0	(48,249)
Purchase of treasury stock (in shares)	0
Retirement of treasury stock	$ (39)	(31,573)	(16,637)	48,249	0	0	0
Retirement of treasury stock (in shares)	(3,919)
Balance at Oct. 31, 2021	$ 600	484,672	317,849	0	20,571	176,870	1,000,562
Balance (in shares) at Oct. 31, 2021	60,024
Net income	$ 0	0	118,786	0	0	60,456	179,242
Other comprehensive income (loss)	0	0	0	0	(119,027)	(31,759)	(150,786)
Shares issued under equity plans	$ 10	4,280	0	0	0	0	4,290
Shares issued under equity plans (in shares)	954
Share-based compensation expense	$ 0	6,308	0	0	0	0	6,308
Contribution from noncontrolling interest	0	0	0	0	0	24,995	24,995
Purchase of treasury stock	$ 0	0	0	(2,522)	0	0	(2,522)
Purchase of treasury stock (in shares)	0
Retirement of treasury stock	$ (2)	(1,519)	(1,001)	2,522	0	0	0
Retirement of treasury stock (in shares)	(187)
Balance at Oct. 31, 2022	$ 608	493,741	435,634	0	(98,456)	230,562	1,062,089
Balance (in shares) at Oct. 31, 2022	60,791
Net income	$ 0	0	125,485	0	0	74,149	199,634
Other comprehensive income (loss)	0	0	0	0	9,722	(4,110)	5,612
Shares issued under equity plans	$ 5	268	0	0	0	0	273
Shares issued under equity plans (in shares)	519
Share-based compensation expense	$ 0	8,001	0	0	0	0	8,001
Balance at Oct. 31, 2023	$ 613	$ 502,010	$ 561,119	$ 0	$ (88,734)	$ 300,601	$ 1,275,609
Balance (in shares) at Oct. 31, 2023	61,310

LEASES (Tables)

12 Months Ended

Oct. 31, 2023

LEASES [Abstract]

Information on Operating and Finance Leases Included in Consolidated Balance Sheets

The following table provides information on operating and finance leases included in our consolidated balance sheets.

Classification	October 31, 2023		October 31, 2022

ROU Assets – Operating Leases
Other assets	$	6,189	$	3,341

ROU Assets – Finance Leases
Property, plant and equipment, net	$	35,165	$	37,976

Lease Liabilities – Operating Leases
Accrued liabilities	$	1,912	$	1,354
Other liabilities		4,218		1,928
	$	6,130	$	3,282

Lease Liabilities – Finance Leases
Current portion of long-term debt	$	6,621	$	6,512
Long-term debt		17,998		24,571
	$	24,619	$	31,083

Future Lease Payments under Noncancelable Operating and Finance Leases

Fiscal Year	Operating Leases			Finance Leases
2024	$	2,015		$	6,951
2025		1,712			18,026
2026		1,327			13
2027		1,088			13
2028		247			1
Total lease payments	$	6,389		$	25,004
Imputed interest		(259	)		(385	)
Lease liabilities	$	6,130		$	24,619

Lease Costs

The following table presents lease costs for 2023, 2022, and 2021.

	Year Ended
	October 31, 2023		October 31, 2022		October 31, 2021
Operating lease costs	$	2,278	$	2,253	$	2,904
Short-term lease costs	$	462	$	469	$	232
Variable lease costs	$	656	$	603	$	498
Interest on finance lease	$	426	$	522	$	510
Amortization of ROU assets	$	2,870	$	2,917	$	1,867

Weighted-Average Remaining Lease Terms And Weighted-Average Discount Rates

The following table presents statistical information related to our operating and finance leases. The information presented is as of the balance sheet dates.

	October 31, 2023					October 31, 2022
Classification	Weighted- average remaining lease term (in years)		Weighted- average discount rate			Weighted- average remaining lease term (in years)		Weighted- average discount rate
Operating leases		3.7		2.4	%		3.1		2.3	%
Finance leases		1.2		1.5	%		2.2		1.5	%

Cash and Non-cash Information Related to Leases

The following table presents the effects of leases on our 2023, 2022, and 2021 consolidated statements of cash flows, and provides leases-related non-cash information for those years.

	Year Ended
	October 31, 2023		October 31, 2022		October 31, 2021
Operating cash flows used for operating leases	$	2,271	$	2,259	$	2,442
Operating cash flows used for finance leases	$	429	$	566	$	464
Financing cash flows used for finance leases	$	6,521	$	7,289	$	4,323
ROU assets obtained in exchange for operating lease obligations	$	5,116	$	513	$	457
ROU assets obtained in exchange for finance lease obligations	$	-	$	-	$	42,672

COMMITMENTS AND CONTINGENCIES

12 Months Ended

Oct. 31, 2023

COMMITMENTS AND CONTINGENCIES [Abstract]

COMMITMENTS AND CONTINGENCIES

NOTE 15 - COMMITMENTS AND CONTINGENCIES

Fiscal Year	Unrecognized Commitments
2024	$	99,779
2025		27,182
2026		10,024
2027		79
2028		65
Thereafter		-
Total	$	137,129

We are subject to various claims that arise in the ordinary course of business. We believe that our potential liability under such claims, individually and in the aggregate, will not have a material effect on our consolidated financial statements. As of October 31, 2023, and October 31, 2022, we were not involved in environmental litigation to which a government was a party.

LEASES, Operating and Finance Leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Oct. 31, 2023	Oct. 31, 2022	Oct. 31, 2021
Weighted Average Remaining Lease Terms, Discount Rates [Abstract]
Operating leases, Weighted-average remaining lease term	3 years 8 months 12 days	3 years 1 month 6 days
Operating leases, Weighted-average discount rate	2.40%	2.30%
Finance leases, Weighted-average remaining lease term	1 year 2 months 12 days	2 years 2 months 12 days
Finance leases, Weighted-average discount rate	1.50%	1.50%
Cash and Non-cash Information Related to Leases [Abstract]
Operating cash flows used for operating leases	$ 2,271	$ 2,259	$ 2,442
Operating cash flows used for finance leases	429	566	464
Financing cash flows used for finance leases	6,521	7,289	4,323
ROU assets obtained in exchange for operating lease obligations	5,116	513	457
ROU assets obtained in exchange for finance lease obligations	$ 0	$ 0	$ 42,672

Consolidated Statements of Comprehensive (Loss) Income (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Oct. 31, 2023	Oct. 31, 2022	Oct. 31, 2021
Consolidated Statements of Comprehensive (Loss) Income [Abstract]
Other comprehensive income (loss), tax	$ 0	$ 0	$ 0

- Definition

Amount of tax expense (benefit) allocated to other comprehensive income (loss).

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 45
-Paragraph 12
-SubTopic 10
-Topic 220
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482790/220-10-45-12

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482765/220-10-50-4

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481674/830-30-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 17
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481694/830-30-45-17

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 20
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481694/830-30-45-20

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(19))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-10

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 20
-Name Accounting Standards Codification
-Section 45
-Paragraph 11
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482659/740-20-45-11

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(21))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(23))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 20
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482659/740-20-45-2

+ Details

SHARE-BASED COMPENSATION (Details) - USD ($) $ / shares in Units, $ in Thousands		12 Months Ended
	Mar. 16, 2023	Oct. 31, 2023	Oct. 31, 2022	Oct. 31, 2021	Mar. 15, 2023
Share-based Compensation [Abstract]
Maximum number of shares of common stock that may be issued (in shares)	5,000,000				4,000,000
Additional shares available for issuance (in shares)	1,000,000
Expense incurred		$ 8,001	$ 6,308	$ 5,348
Income tax benefits of share-based compensation		715	449	233
Share-based compensation cost capitalized		0	0	0
Cost of Goods Sold [Member]
Share-based Compensation [Abstract]
Expense incurred		1,259	868	446
Selling, General and Administrative [Member]
Share-based Compensation [Abstract]
Expense incurred		5,962	4,803	4,446
Research and Development [Member]
Share-based Compensation [Abstract]
Expense incurred		780	637	456
Restricted Stock [Member]
Share-based Compensation [Abstract]
Expense incurred		$ 7,909	$ 5,800	$ 4,920
Shares [Roll Forward]
Outstanding at beginning of period (in shares)		893,704	929,147
Granted (in shares)		791,925	654,224	564,800
Vested (in shares)		(417,432)
Cancelled (in shares)		(29,900)
Outstanding at end of period (in shares)		1,238,297	893,704	929,147
Expected to vest (in shares)		1,117,128
Weighted-Average Fair Value at Grant Date [Abstract]
Outstanding at beginning of period (in dollars per share)		$ 15.62
Granted (in dollars per share)		16.84	$ 18.73	$ 11.2
Vested (in dollars per share)		14.98
Cancelled (in dollars per share)		16.48
Outstanding at end of period (in dollars per share)		16.27	$ 15.62
Expected to vest (in dollars per share)		$ 16.21
Fair value of awards for which restrictions lapsed		$ 6,256	$ 5,212	$ 4,491
Estimated Expenses Not Yet Incurred [Abstract]
Compensation cost not yet recognized		$ 12,760	$ 8,949	$ 7,300
Weighted-average amortization period (in years)		2 years 9 months 18 days	2 years 8 months 12 days	2 years 7 months 6 days
Restricted Stock [Member] \| Minimum [Member]
Share-based Compensation [Abstract]
Award vesting period		1 year
Restricted Stock [Member] \| Maximum [Member]
Share-based Compensation [Abstract]
Award vesting period		4 years
Stock Options [Member]
Share-based Compensation [Abstract]
Expense incurred		$ 1	$ 298	$ 218
Estimated Expenses Not Yet Incurred [Abstract]
Compensation cost not yet recognized		$ 0	$ 13	$ 109
Weighted-average amortization period (in years)			2 months 12 days	1 year 1 month 6 days
Stock Options Activity [Abstract]
Contractual term		10 years
Shares [Roll Forward]
Outstanding at beginning of period (in shares)		614,001
Granted (in shares)		0	0	0
Exercised (in shares)		(137,226)
Cancellations, forfeitures, and adjustments (in shares)		(4,500)
Outstanding at end of period (in shares)		472,275	614,001
Exercisable at end of period (in shares)		472,275
Expected to vest (in shares)		0
Weighted-Average Exercise Price [Abstract]
Outstanding at beginning of period (in dollars per share)		$ 9.74
Granted (in dollars per share)		0
Exercised (in dollars per share)		8.24
Cancellations, forfeitures, and adjustments (in dollars per share)		10.18
Outstanding at end of period (in dollars per share)		10.18	$ 9.74
Exercisable at end of period (in dollars per share)		10.18
Expected to vest (in dollars per share)		$ 0
Weighted-Average Remaining Contractual Life [Abstract]
Outstanding at end of period		2 years 6 months
Exercisable at end of period		2 years 6 months
Aggregate Intrinsic Value [Abstract]
Outstanding at end of period		$ 3,865
Exercisable at end of period		3,865
Expected to vest		0
Options Exercised [Abstract]
Total intrinsic value of options exercised		1,654	$ 5,108	$ 1,910
Cash received from options exercises		$ 1,101	5,275	3,441
Stock Options [Member] \| Minimum [Member]
Share-based Compensation [Abstract]
Award vesting period		1 year
Stock Options [Member] \| Maximum [Member]
Share-based Compensation [Abstract]
Award vesting period		4 years
Employee Stock Purchase Plan [Member]
Share-based Compensation [Abstract]
Maximum number of shares of common stock that may be issued (in shares)		1,850,000
Expense incurred		$ 91	$ 210	$ 210
Award vesting period		1 year
Options Exercised [Abstract]
Percent of market price that participants pay for shares subscribed		85.00%
Total shares issued since inception (in shares)		1,600,000
Unrecognized compensation cost		$ 0
Employee Stock Purchase Plan [Member] \| Maximum [Member]
Shares [Roll Forward]
Outstanding at beginning of period (in shares)		100,000
Outstanding at end of period (in shares)			100,000
Options Exercised [Abstract]
Unrecognized compensation cost			$ 100

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Oct. 31, 2023

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]

Available-for-Sale Debt Securities

	October 31, 2023									October 31, 2022
	Amortized Cost		Unrealized Gains		Unrealized Losses			Carrying Value		Amortized Cost		Unrealized Gains		Unrealized Losses			Carrying Value
Government securities	$	12,913	$	4	$	(2	)	$	12,915	$	38,911	$	-	$	(91	)	$	38,820

- Definition

Tabular disclosure of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-9

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-3

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (aa)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (aaa)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-3

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-3

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-3

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-3

+ Details

INCOME TAXES (Tables)

12 Months Ended

Oct. 31, 2023

INCOME TAXES [Abstract]

Income Before Income Tax Provision for Domestic and Foreign

Income before the income tax provisions consists of the following:

	Year Ended
	October 31, 2023			October 31, 2022		October 31, 2021
United States	$	(1,737	)	$	1,813	$	(19,447	)
Foreign		271,683			237,220		121,453
	$	269,946		$	239,033	$	102,006

Income Tax Provision

The components of our income tax provisions are presented below.

	Year Ended
	October 31, 2023			October 31, 2022		October 31, 2021
Current:
Federal	$	-		$	-	$	-
State		14			1		4
Foreign		71,225			58,981		25,296
		71,239			58,982		25,300

Deferred:
Federal		-			-		-
State		12			10		103
Foreign		(939	)		799		(2,213	)
		(927	)		809		(2,110	)
Total	$	70,312		$	59,791	$	23,190

Income Tax Rate Reconciliation

The table below presents a reconciliation of income taxes calculated by applying the statutory U.S. federal income tax rate to our income tax provisions of the reporting periods.

	Year Ended
	October 31, 2023			October 31, 2022			October 31, 2021
U.S. federal income tax at statutory rate	$	56,689		$	50,197		$	21,421
Changes in valuation allowances		(256	)		(1,462	)		364
Foreign tax rate differentials		11,394			7,941			3,244
Tax credits		(2,425	)		(1,368	)		(3,942	)
Uncertain tax positions, including reserves, settlements and resolutions		3,328			3,214			1,037
Other, net		1,582			1,269			1,066
Income tax provision	$	70,312		$	59,791		$	23,190

Reporting Period	U.S. Statutory Tax Rates			Photronics Effective Tax Rates			Primary Reasons for Differences
2023		21.0	%		26.0	%	Non-U.S. pre-tax income being taxed at higher statutory rates in non-U.S. jurisdictions, the establishment of uncertain tax positions in non-U.S. jurisdiction and loss jurisdiction pre-tax losses not being benefited due to valuation allowances.
2022		21.0	%		25.0	%	Non-U.S. pre-tax income being taxed at higher statutory rates in non-U.S. jurisdictions; and the establishment of uncertain tax positions in non-U.S. jurisdiction.
2021		21.0	%		22.7	%	Loss jurisdiction pre-tax losses not being benefited due to valuation allowances, non-U.S. pre-tax income being taxed at higher statutory rates in the non-U.S. jurisdictions, and investment credits in foreign jurisdictions.

Net Deferred Income Tax Assets

The net deferred income tax assets consist of the following:

	As of
	October 31, 2023			October 31, 2022
Deferred income tax assets
Net operating losses	$	26,377		$	29,410
Reserves not currently deductible		8,776			8,528
Tax credit carryforwards		10,442			9,660
Share-based compensation		1,892			1,560
Property, plant and equipment		9,844			6,591
Lease liabilities		5,743			7,367
		63,074			63,116
Valuation allowances		(32,619	)		(32,895	)
		30,455			30,221
Deferred income tax liabilities
ROU assets		(8,193	)		(8,930	)
Other		(1,200	)		(1,722	)
		(9,393	)		(10,652	)
Net deferred income tax assets	$	21,062		$	19,569

Classification
Deferred income tax assets	$	21,297		$	19,816
Other liabilities		(235	)		(247	)
	$	21,062		$	19,569

Operating Loss Carryforwards

The following tables present our available operating loss and credit carryforwards as of October 31, 2023, and their related expiration periods.

Operating Loss Carryforwards	Amount		Expiration Period
Federal	$	86,765	2029-Indefinite
State	$	148,934		2024-Indefinite
Foreign	$	435		2024-Indefinite

Tax Credit Carryforwards

Tax Credit Carryforwards	Amount		Expiration Period
Federal research and development	$	5,806		2024-2043
State	$	5,042		2024-2037

Reconciliation of Beginning and Ending Amounts of Unrecognized Tax Benefits

A reconciliation of the beginning and ending amounts of unrecognized tax benefits is presented below. The amounts in the table include settlements of non-U.S. audits.

	Year Ended
	October 31, 2023			October 31, 2022			October 31, 2021
Balance at beginning of year before interest and penalties	$	5,204		$	3,534		$	2,550
(Reductions) additions of tax positions in prior years		209			(355	)		181
Additions based on current year tax positions		3,361			2,892			1,313
Settlements		(423	)		(848	)		(489	)
Lapses of statutes of limitations		(19	)		(19	)		(21	)
Balance at end of year before interest and penalties		8,332			5,204			3,534
Interest and penalties		576			395			223
Balance at end of year including interest and penalties	$	8,908		$	5,599		$	3,757

Unrecognized Tax Benefits

The following table presents additional information on our uncertain tax positions, as of the balance sheet dates.

	October 31, 2023		October 31, 2022
Unrecognized tax benefits that, if recognized, would impact the effective tax rate	$	8,908	$	5,599
Accrued interest and penalties related to uncertain tax positions	$	576	$	395

Income Tax Payments and Refunds

The table below presents income taxes paid and refunds of income taxes received during the reporting periods.

	Year Ended
	October 31, 2023		October 31, 2022		October 31, 2021
Income taxes paid	$	70,362	$	37,770	$	22,684
Income tax refunds received	$	485	$	388	$	713

DEBT

12 Months Ended

Oct. 31, 2023

DEBT [Abstract]

DEBT

NOTE 8 - DEBT

As of October 31, 2023	Xiamen Project Loans			Finance Leases			Total
Principal due:
Next 12 months	$	-		$	6,621		$	6,621
Months 13 – 24	$	-		$	17,972		$	17,972
Months 25 – 36		-			12			12
Months 37 – 48		-			13			13
Months 49 – 60		-			1			1
Long-term debt		-			17,998			17,998
Total debt	$	-		$	24,619		$	24,619

Interest rate at balance sheet date	N/A		%	N/A
Basis spread on interest rates	0.00			N/A
Interest rate reset	Quarterly			N/A
Maturity date	December 2025			N/A
Periodic payment amount	Varies as loans mature⁽¹⁾			Varies as Lease mature
Periodic payment frequency	Semiannual, on individual loans			Monthly
Loan collateral (carrying amount)	$	N/A		$	35,165	⁽²⁾

⁽¹⁾

⁽²⁾

Represents the carrying amount at the balance sheet date of the related ROU assets, in which the lessors have secured interests.

The tables below provide information on our long-term debt as of October 31, 2022.

As of October 31, 2022	Xiamen Project Loans			Xiamen Working Capital Loans			Hefei Equipment Loan		Finance Leases			Total
Principal due:
Next 12 months	$	-		$	3,512		$	-	$	6,512		$	10,024
Months 13 – 24	$	-		$	-		$	-	$	6,610		$	6,610
Months 25 – 36		1,098			-			-		17,961			19,059
Months 37 – 48		6,641			-			-		-			6,641
Long-term debt	$	7,739		$	-		$	-	$	24,571		$	32,310

Interest rate at balance sheet date		4.30% - 4.45	%		4.46	%		N/A			⁽²⁾
Basis spread on interest rates		0.00			76.00			N/A		N/A
Interest rate reset	Quarterly			Monthly/Annually				N/A		N/A
Maturity date	December 2025			July 2023			Paid July 2022				⁽²⁾
Periodic payment amount	Varies as loans mature⁽¹⁾			Increases as loans mature				N/A			⁽²⁾
Periodic payment frequency	Semiannual, on individual loans			Semiannual, on individual loans				N/A	Monthly
Loan collateral (carrying amount)	$	70,705			N/A			N/A	$	37,976	⁽³⁾

⁽¹⁾

During the three month period ended October 31, 2022, we repaid RMB 81.0 million (approximately $11.5 million) that had contractual maturity dates ranging from December 2023 through June 2025.

⁽²⁾

See Note 10 for interest rates on lease liabilities, maturity dates, and periodic payment amounts.

⁽³⁾

Represents the carrying amount at the balance sheet date of the related ROU assets, in which the lessors have secured interests.

Finance Leases

In February 2021, we entered into a five-year $7.2 million finance lease for a high-end inspection tool. Monthly payments on the lease, which commenced in February 2021, are $0.1 million per month. Upon the payment of the fiftieth monthly payment and prior to payment of the fifty-first monthly payment, we may exercise an early buyout option to purchase the tool for $2.4 million. If we do not exercise the early buyout option, then at the end of the five-year lease term, the lease shall continue to renew on a month-to-month basis at the same rental terms; at our option, after the original term or any renewal periods, we may return the tool, elect to extend the lease, or purchase the tool at its fair market value. Since we are reasonably certain that we will exercise the early buyout option, our lease liability reflects such exercise and we have classified the lease as a finance lease. The interest rate implicit in the lease is 1.08%.

In December 2020, we entered into a five-year $35.5 million finance lease for a high-end lithography tool. Monthly payments on the lease, which commenced in January 2021, increased from $0.04 million during the first three months to $0.6 million for the following nine months, followed by forty-eight monthly payments of $0.5 million. As of the due date of the forty-eighth monthly payment, we may exercise an early buyout option to purchase the tool for $14.1 million. If we do not exercise the early buyout option, then at the end of the five-year lease term, at our option, we may return the tool, elect to extend the lease term for a period and a lease payment to be agreed with lessor at the time, or purchase the tool for its then-fair market value, as determined by the lessor. Since we are reasonably certain that we will exercise the early buyout option, our lease liability reflects such exercise and we have classified the lease as a finance lease. The interest rate implicit in the lease is 1.58%. The lease agreement incorporates the covenants included in our former Corporate Credit Agreement, which are detailed below, and includes a cross-default provision for any agreement or instrument with an outstanding, committed balance greater than $5.0 million in which we are the indebted party.

Xiamen Project Loans

In November 2018, PDMCX obtained approval to borrow RMB 345.0 million from the Industrial and Commercial Bank of China. From November 2018 through July 2020, PDMCX entered into separate loan agreements (the “Project Loans”) for the entire approved amount. In February 2023, PDMCX repaid the entire outstanding balance of RMB 26.4 million ($3.9 million). As of October 31, 2023, PDMCX had no amount outstanding and the amounts may not be re-borrowed. The Project Loans were used to finance certain capital expenditures at the PDMCX facility and were collateralized by liens granted on the land use right, building, and certain equipment located at the facility. The interest rates on the Project Loans were variable (based on the RMB Loan Prime Rate of the National Interbank Funding Center), and interest incurred on the loans was eligible for reimbursement through incentives provided by the Xiamen Torch Hi-Tech Industrial Development Zone, which provided for such reimbursements up to a prescribed limit and duration. The Project Loans were subject to covenants and provisions, certain of which related to the assets pledged as security for the loans, all of which we were in compliance with at the time of repayment.

Xiamen Working Capital Loans

In November 2018, PDMCX obtained approval for revolving, unsecured credit of the equivalent of $25.0 million, pursuant to which PDMCX may enter into separate loan agreements with varying terms to maturity. This facility is subject to annual reviews and extensions, with the most recent extension set to expire in July 2024. In December 2022, we repaid our entire outstanding balance of RMB 25.6 million ($3.6 million) and the amounts may not be re-borrowed. As of October 31, 2023, PDMCX had no amount outstanding against the approval. The interest rates are variable, based on the RMB Loan Prime Rate of the National Interbank Funding Center. Interest incurred on the loans related to the amount borrowed was eligible for reimbursement through incentives provided by the Xiamen Torch Hi-Tech Industrial Development Zone, which provided for such reimbursements up to a prescribed limit and duration.

Corporate Credit Agreement

In September 2018, we entered into a five-year amended and restated credit agreement (the “Credit Agreement”), which had a $50 million borrowing limit, with an expansion capacity to $100 million. The Credit Agreement was secured by substantially all of our assets located in the United States and common stock we own in certain subsidiaries. The Credit Agreement was subject to covenants around minimum interest coverage ratio, total leverage ratio, and minimum unrestricted cash balance (all of which we were in compliance with at the termination of the agreement in September 2023), and limited the amount of cash dividends, distributions, and redemptions we could pay on our common stock to an aggregate annual amount of $50 million. The Credit Agreement expired, and was not renewed as of October 31, 2023. There were no outstanding borrowings against the Credit Agreement at its expiration.

Hefei Equipment Loan

In October 2020, our Hefei, China, facility was approved to borrow RMB 200 million from the China Construction Bank Corporation. In July 2022, we repaid our entire outstanding balance of RMB 120.7 million ($18.0 million). This credit facility was subject to annual reviews and extension; the most recent extension expired in August 2022, and we did not apply for an extension. The loan proceeds were used to fund purchases of two lithography tools at the Hefei facility. The interest rate on the loan was variable and based on the RMB Loan Prime Rate of the National Interbank Funding Center. The borrowings were secured by the Hefei facility, its related land use right, and certain manufacturing equipment. The Hefei Equipment Loan was subject to covenants and provisions, certain of which relate to the assets pledged as security for the loan, including covenants for the ratio of total liabilities to total assets and the ratio of current assets to current liabilities, all of which we were in compliance with at the time of repayment.

Interest Paid for Debt

Interest payments, including capitalized interest of $0.1 million in 2021, were $0.5 million in 2023, $2.8 million in 2022, and $3.8 million in 2021. The weighted-average interest rate on our current portion of long-term debt for the periods ended October 31, 2023 and October 31, 2022 was 1.5% and 2.5%, respectively.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//470/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

+ Details

EARNINGS PER SHARE (Tables)

12 Months Ended

Oct. 31, 2023

EARNINGS PER SHARE [Abstract]

Calculation of Basic and Diluted Earnings Per Share

The calculation of basic and diluted earnings per share is presented below.

	Year Ended
	October 31, 2023		October 31, 2022		October 31, 2021
Net income attributable to Photronics, Inc. shareholders	$	125,485	$	118,786	$	55,449
Effect of dilutive securities		-		-		-

Earnings used for diluted earnings per share	$	125,485	$	118,786	$	55,449

Weighted-average common shares computations:
Weighted-average common shares used for basic earnings per share		61,139		60,559		61,407
Effect of dilutive securities:
Share-based payment awards		616		630		592
Potentially dilutive common shares		616		630		592

Weighted-average common shares used for diluted earnings per share		61,755		61,189		61,999

Basic earnings per share	$	2.05	$	1.96	$	0.90
Diluted earnings per share	$	2.03	$	1.94	$	0.89

Outstanding Securities Excluded from Calculation of Diluted Earnings or Loss Per Share

	Year Ended
	October 31, 2023		October 31, 2022		October 31, 2021
Share based payment awards		136		314		331
Total potentially dilutive shares excluded		136		314		331

SHARE REPURCHASE PROGRAMS (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended			38 Months Ended
	Oct. 31, 2023	Oct. 31, 2022	Oct. 31, 2021	Oct. 31, 2023	Sep. 30, 2020	Aug. 31, 2019
Share Repurchase Program [Abstract]
Cost of shares repurchased		$ 2,522	$ 48,249
September 2020 Announced Program [Member]
Share Repurchase Program [Abstract]
Stock repurchased authorized amount					$ 100,000
Stock repurchase program - commencement date	Sep. 16, 2020
Stock repurchase program - expiration and termination date	Sep. 15, 2022
Amount remaining under authorization for purchase of additional shares	$ 31,700			$ 31,700
August 2019 Announced Program [Member]
Share Repurchase Program [Abstract]
Stock repurchased authorized amount						$ 100,000
Stock repurchase program - commencement date	Sep. 25, 2019
Stock repurchase program - expiration and termination date	Mar. 20, 2020
Share Repurchase Programs [Member]
Share Repurchase Program [Abstract]
Number of shares repurchased (in shares)	0	187	3,919	5,800
Cost of shares repurchased	$ 0	$ 2,522	$ 48,249	$ 68,300
Average price paid per share (in dollars per share)	$ 0	$ 13.43	$ 12.31	$ 11.7

CHANGES IN ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME BY COMPONENT (Details) - USD ($) $ in Thousands	12 Months Ended
	Oct. 31, 2023	Oct. 31, 2022	Oct. 31, 2021
CHANGES IN ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME BY COMPONENT [Abstract]
Other comprehensive (loss) income, tax	$ 0	$ 0	$ 0
Changes in Accumulated Other Comprehensive Income [Roll Forward]
Beginning Balance	831,527
Ending Balance	975,008	831,527
Accumulated Other Comprehensive Income (Loss) [Member]
Changes in Accumulated Other Comprehensive Income [Roll Forward]
Beginning Balance	(98,456)	20,571
Ending Balance	(88,734)	(98,456)	20,571
Foreign Currency Translation Adjustments [Member]
Changes in Accumulated Other Comprehensive Income [Roll Forward]
Beginning Balance	(97,790)	21,476
Ending Balance	(88,044)	(97,790)	21,476
Other [Member]
Changes in Accumulated Other Comprehensive Income [Roll Forward]
Beginning Balance	(666)	(905)
Ending Balance	(690)	(666)	$ (905)
AOCI Including Portion Attributable to Noncontrolling Interest [Member]
Changes in Accumulated Other Comprehensive Income [Roll Forward]
Other comprehensive income (loss)	5,612	(150,786)
Foreign Currency Translation Adjustments [Member]
Changes in Accumulated Other Comprehensive Income [Roll Forward]
Other comprehensive income (loss)	5,615	(151,209)
Other [Member]
Changes in Accumulated Other Comprehensive Income [Roll Forward]
Other comprehensive income (loss)	(3)	423
AOCI Attributable to Noncontrolling Interest [Member]
Changes in Accumulated Other Comprehensive Income [Roll Forward]
Other comprehensive (income) loss attributable to noncontrolling interests	4,110	31,759
Foreign Currency Translation Adjustments [Member]
Changes in Accumulated Other Comprehensive Income [Roll Forward]
Other comprehensive (income) loss attributable to noncontrolling interests	4,131	31,943
Other [Member]
Changes in Accumulated Other Comprehensive Income [Roll Forward]
Other comprehensive (income) loss attributable to noncontrolling interests	$ (21)	$ (184)

FAIR VALUE MEASUREMENTS	12 Months Ended
FAIR VALUE MEASUREMENTS	Oct. 31, 2023
FAIR VALUE MEASUREMENTS [Abstract]
FAIR VALUE MEASUREMENTS	NOTE 19 - FAIR VALUE MEASUREMENTS 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, defined as quoted market prices (unadjusted) in active markets for identical securities; Level 2, defined as inputs other than Level 1 that are observable, either directly or indirectly; and Level 3, defined as unobservable inputs that are not corroborated by market data. The fair values of our cash and certain cash equivalents (Level 1 measurements), accounts receivable, accounts payable, and certain other current assets and current liabilities (Level 2 measurements) approximate their carrying values due to their short-term maturities. The fair values of our Short-term investments are Level 1 measurements. (Please refer to “Investments” within Note 1 for additional fair value information on our Short-term investments.) The fair values of certain cash equivalents are Level 2 measurements that are provided by independent third-party pricing services or other independent entities, which may use matrix pricing, valuation models, or other methods which utilize observable market data. The fair values of our variable-rate debt instruments are Level 2 measurements and approximate their carrying values due to the variable nature of their underlying interest rates. Other than our Short-term investments, we did not have any assets or liabilities measured at fair value, on a recurring or a nonrecurring basis, at October 31, 2023, or October 31, 2022.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

RECENT ACCOUNTING PRONOUNCEMENTS (Policies)	12 Months Ended
RECENT ACCOUNTING PRONOUNCEMENTS (Policies)	Oct. 31, 2023
RECENT ACCOUNTING PRONOUNCEMENTS [Abstract]
Recent Accounting Pronouncements	Accounting Standards Updates Adopted In November 2021, the FASB issued ASU 2021-10, “Government Assistance (Topic 832): Disclosures by Business Entities about Government Assistance”, to increase the transparency of government assistance including the disclosure of the types of assistance an entity receives, an entity’s method of accounting for government assistance, and the effect of the assistance on an entity’s financial statements. The guidance was effective for annual disclosures beginning our fiscal year 2023, and early adoption was permitted. We adopted the guidance as of the effective date. The guidance did not have a material impact in the consolidated financial statements. Refer to Note 1 of our consolidated financial statements for additional information. Accounting Standards Updates to be Adopted In November 2023, the FASB issued ASU 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures”, which improves reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. The guidance in this Update is effective for all public entities for fiscal years beginning after December 15, 2023, with early adoption permitted. We are currently evaluating the effect the adoption of this ASU may have on our disclosures. In March 2020, the FASB issued ASU 2020-04, “Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting”, which provides optional expedients and exceptions to applying the guidance on contract modifications, hedge accounting, and other transactions, to simplify the accounting for transitioning from LIBOR, and other interbank offered rates expected to be discontinued, to alternative reference rates. The guidance in this Update was effective upon its issuance; if elected, it is to be applied prospectively from December 31, 2022. In December 2022, the FASB issues ASU 2022-06, “Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848”, which extends the period of time entities can utilize the reference rate reform relief guidance under ASU 2020-04 from December 31, 2022 to December 31, 2024. We are currently evaluating the effect the adoption of this ASU may have on our disclosures.

RISKS AND CONCENTRATIONS

12 Months Ended

Oct. 31, 2023

RISKS AND CONCENTRATIONS [Abstract]

RISKS AND CONCENTRATIONS

NOTE 17 - RISKS AND CONCENTRATIONS

Financial instruments that potentially subject us to credit risk principally consist of trade accounts receivable and short-term cash investments. We sell our products primarily to semiconductor and FPD manufacturers in Asia, North America, and Europe. We believe that the concentration of credit risk in our trade receivables is substantially mitigated by our ongoing credit evaluation process and relatively short collection terms. We do not generally require collateral from customers. We establish an allowance for credit losses based upon factors surrounding the credit risk of specific customers, historical trends, and other information.

Our cash and cash equivalents are deposited in several financial institutions, including institutions located within all of the countries in which we manufacture photomasks. Portions of deposits in some of these institutions may exceed the amount of insurance available for such deposits at these institutions. As these deposits are generally redeemable upon demand and are held by high quality, reputable institutions, we consider them to bear minimal credit risk. We further mitigate credit risks related to our cash and cash equivalents by spreading such risk among a number of institutions.

The following table presents the percentages of our net accounts receivable attributable to customers that accounted for more than ten percent of the total balance as of the balance sheet dates.

	October 31, 2023			October 31, 2022
Customer A		21	%		16	%
Customer B		10	%		16	%

The following table presents the percentages of our revenue attributable to customers that accounted for more than ten percent of the total revenue during the reporting periods.

	Year Ended
	October 31, 2023			October 31, 2022			October 31, 2021
Customer A		14	%		15	%		17	%
Customer B		13	%		5	%		3	%
Customer C		10	%		11	%		12	%

We operate as a single operating segment as a manufacturer of photomasks, which are high precision quartz or glass plates containing microscopic images of electronic circuits for use in the fabrication of IC’s and FPDs.

As of the balance sheet dates, our long-lived assets and net assets were, by geographic area, as presented below.

	October 31, 2023					October 31, 2022
	Long-lived Assets		Net Assets			Long-lived Assets		Net Assets
China	$	249,357	$	317,409		$	242,712	$	257,855
Taiwan		199,313		489,722			155,690		393,795
United States		140,733		188,712			132,915		183,909
Korea		119,438		281,941			109,892		229,501
Europe and Other		7,294		(2,175	)		6,758		(2,971	)
	$	716,135	$	1,275,609		$	647,967	$	1,062,089

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Revenue Recognition (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2023	Oct. 31, 2022	Oct. 31, 2021
Contract with Customer, Asset and Liability [Abstract]
Impairment loss on contract assets	$ 0	$ 0	$ 0
Impairment loss on accounts receivable	$ 0	$ 0	$ 0
Minimum [Member]
Product Warranty [Abstract]
Product warranty period	1 month
Maximum [Member]
Product Warranty [Abstract]
Product warranty period	24 months
IC [Member] \| Minimum [Member]
Backlog of Orders [Abstract]
Customer order, expected satisfaction period	7 days
Customer order, extended satisfaction period	2 months
IC [Member] \| Maximum [Member]
Backlog of Orders [Abstract]
Customer order, expected satisfaction period	14 days
Customer order, extended satisfaction period	3 months
FPD [Member] \| Minimum [Member]
Backlog of Orders [Abstract]
Customer order, expected satisfaction period	14 days
FPD [Member] \| Maximum [Member]
Backlog of Orders [Abstract]
Customer order, expected satisfaction period	21 days

REVENUE, Disaggregation of Revenue (Details) - USD ($)
$ in Thousands

12 Months Ended

Oct. 31, 2023

Oct. 31, 2022

Oct. 31, 2021

Disaggregation of Revenue [Abstract]

Revenue

^[1]

$ 892,076

$ 824,549

$ 663,761

IC [Member]

Disaggregation of Revenue [Abstract]

Revenue

651,279

593,026

460,171

High-end [Member]

Disaggregation of Revenue [Abstract]

Revenue

194,939

195,332

162,973

Mainstream [Member]

Disaggregation of Revenue [Abstract]

Revenue

456,340

397,694

297,198

FPD [Member]

Disaggregation of Revenue [Abstract]

Revenue

240,797

231,523

203,590

High-end [Member]

Disaggregation of Revenue [Abstract]

Revenue

200,842

186,988

155,670

Mainstream [Member]

Disaggregation of Revenue [Abstract]

Revenue

39,955

44,535

47,920

Taiwan [Member]

Disaggregation of Revenue [Abstract]

Revenue

^[1]

316,889

291,342

248,597

China [Member]

Disaggregation of Revenue [Abstract]

Revenue

^[1]

245,378

212,598

115,732

Korea [Member]

Disaggregation of Revenue [Abstract]

Revenue

^[1]

162,235

156,139

156,391

United States [Member]

Disaggregation of Revenue [Abstract]

Revenue

^[1]

128,879

126,205

105,023

Europe [Member]

Disaggregation of Revenue [Abstract]

Revenue

^[1]

36,579

36,402

36,242

Other [Member]

Disaggregation of Revenue [Abstract]

Revenue

^[1]

2,116

1,863

1,776

Over Time [Member]

Disaggregation of Revenue [Abstract]

Revenue

838,628

758,359

606,332

At a Point in Time [Member]

Disaggregation of Revenue [Abstract]

Revenue

$ 53,448

$ 66,190

$ 57,429

[1]	This table disaggregates revenue by the location in which it was earned.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Variable Interest Entities (Details)	12 Months Ended
	Oct. 31, 2023
Minimum [Member] \| Photronics and DNP [Member]
Variable Interest Entities [Abstract]
Ownership percentage	20.00%

EMPLOYEE RETIREMENT PLANS	12 Months Ended
EMPLOYEE RETIREMENT PLANS	Oct. 31, 2023
EMPLOYEE RETIREMENT PLANS [Abstract]
EMPLOYEE RETIREMENT PLANS	NOTE 12 - EMPLOYEE RETIREMENT PLANS We maintain a 401(k) Savings and Profit-Sharing Plan (“401(k) Plan”) which covers all full and certain part-time U.S. employees who have completed three months of service and are 18 years of age or older. Under the terms of the 401(k) Plan, employees may contribute up to 50% of their salary, subject to certain maximum amounts, which will be matched by the Company at 50% of the employee’s contributions that are not in excess of 4% of the employee’s compensation. Employee and employer contributions vest immediately upon contribution. The total employer contributions for all of our defined contribution plans were $0.8 million, $0.7 million and $0.8 million in 2023, 2022, and 2021, respectively.

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 70
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480794/715-70-50-1

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 17
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480482/715-20-55-17

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(iv)(03)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (q)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (l)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//715/tableOfContent

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(iii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (o)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (p)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (r)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (r)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480126/715-20-S99-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 60
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480266/715-60-50-3

+ Details

RELATED PARTY TRANSACTIONS	12 Months Ended
RELATED PARTY TRANSACTIONS	Oct. 31, 2023
RELATED PARTY TRANSACTIONS [Abstract]
RELATED PARTY TRANSACTIONS	NOTE 18 - RELATED PARTY TRANSACTIONS Our chief executive officer is related to an individual in a position of authority at one of our largest customers. We recorded revenue from this customer of $126.5 million, $119.0 million and $111.0 million, in 2023, 2022, and 2021, respectively. As of October 31, 2023, and October 31, 2022, we had accounts receivable of $41.5 million and $32.4 million, respectively, from this customer. We believe that the terms of the transaction described above were negotiated at arm’s length and were no less favorable to us than terms we could have obtained from unrelated third parties.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-6

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(g)(3))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(c))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(e))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//850/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-6

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-1

+ Details

INCOME TAXES, Components of Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Oct. 31, 2023	Oct. 31, 2022	Oct. 31, 2021
Components of Income Before Income Tax Provision [Abstract]
United States	$ (1,737)	$ 1,813	$ (19,447)
Foreign	271,683	237,220	121,453
Income before income tax provision	269,946	239,033	102,006
Current [Abstract]
Federal	0	0	0
State	14	1	4
Foreign	71,225	58,981	25,296
Current income tax provision	71,239	58,982	25,300
Deferred [Abstract]
Federal	0	0	0
State	12	10	103
Foreign	(939)	799	(2,213)
Deferred income tax provision	(927)	809	(2,110)
Income tax provision, Total	70,312	59,791	23,190
Income Tax Provision Reconciliation [Abstract]
U.S. federal income tax at statutory rate	56,689	50,197	21,421
Changes in valuation allowances	(256)	(1,462)	364
Foreign tax rate differentials	11,394	7,941	3,244
Tax credits	(2,425)	(1,368)	(3,942)
Uncertain tax positions, including reserves, settlements and resolutions	3,328	3,214	1,037
Other, net	1,582	1,269	1,066
Income tax provision, Total	$ 70,312	$ 59,791	$ 23,190
U.S. statutory tax rates	21.00%	21.00%	21.00%
Photronics effective tax rates	26.00%	25.00%	22.70%
Deferred Income Tax Assets [Abstract]
Net operating losses	$ 26,377	$ 29,410
Reserves not currently deductible	8,776	8,528
Tax credit carryforwards	10,442	9,660
Share-based compensation	1,892	1,560
Property, plant and equipment	9,844	6,591
Lease liabilities	5,743	7,367
Deferred tax assets	63,074	63,116
Valuation allowances	(32,619)	(32,895)
Deferred tax assets net of valuation allowance	30,455	30,221
Deferred Income Tax Liabilities [Abstract]
ROU assets	(8,193)	(8,930)
Other	(1,200)	(1,722)
Deferred income taxes liabilities	(9,393)	(10,652)
Net deferred income tax assets	21,062	19,569
Classification [Abstract]
Deferred income tax assets	21,297	19,816
Other liabilities	(235)	(247)
Net deferred income tax assets	$ 21,062	$ 19,569

OTHER CURRENT ASSETS

12 Months Ended

Oct. 31, 2023

OTHER CURRENT ASSETS [Abstract]

OTHER CURRENT ASSETS

NOTE 3 - OTHER CURRENT ASSETS

Presented below are the components of Other current assets at the balance sheet dates.

	October 31, 2023		October 31, 2022
Contract assets	$	10,984	$	15,752
Prepaid expenses		10,031		8,263
Other		2,537		814
Prepaid and refundable income taxes		2,489		9,709
Recoverable value added taxes		2,312		2,714
	$	28,353	$	37,252

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Government Grants (Details)	12 Months Ended
	Oct. 31, 2023
Government Grants [Abstract]
Maximum extension period for grant agreement term	4 years

CHANGES IN ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME BY COMPONENT (Tables)

12 Months Ended

Oct. 31, 2023

CHANGES IN ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME BY COMPONENT [Abstract]

Changes in Accumulated Other Comprehensive (Loss) Income by Component

The following tables set forth the changes in our accumulated other comprehensive (loss) income by component (net of tax of $0) for the years ended October 31, 2023, and October 31, 2022.

	Year Ended October 31, 2023
	Foreign Currency Translation Adjustments			Other			Total
Balance at October 31, 2022	$	(97,790	)	$	(666	)	$	(98,456	)
Other comprehensive income (loss)		5,615			(3	)		5,612
Other comprehensive (income) loss attributable to noncontrolling interests		4,131			(21	)		4,110

Balance at October 31, 2023	$	(88,044	)	$	(690	)	$	(88,734	)

	Year Ended October 31, 2022
	Foreign Currency Translation Adjustments			Other			Total
Balance at October 31, 2021	$	21,476		$	(905	)	$	20,571
Other comprehensive (loss) income		(151,209	)		423			(150,786	)
Other comprehensive loss (income) attributable to noncontrolling interests		31,943			(184	)		31,759

Balance at October 31, 2022	$	(97,790	)	$	(666	)	$	(98,456	)

INCOME TAXES, Unrecognized Tax Benefits and Carryforwards (Details) - USD ($) $ in Thousands	12 Months Ended
	Oct. 31, 2023	Oct. 31, 2022	Oct. 31, 2021
Unrecognized Tax Benefits [Abstract]
Balance at beginning of year before interest and penalties	$ 5,204	$ 3,534	$ 2,550
Reductions of tax positions in prior years		(355)
Additions of tax positions in prior years	209		181
Additions based on current year tax positions	3,361	2,892	1,313
Settlements	(423)	(848)	(489)
Lapses of statutes of limitations	(19)	(19)	(21)
Balance at end of year before interest and penalties	8,332	5,204	3,534
Interest and penalties	576	395	223
Balance at end of year including interest and penalties	8,908	5,599	3,757
Income Tax Uncertainties [Abstract]
Unrecognized tax benefits that, if recognized, would impact the effective tax rate	8,908	5,599
Accrued interest and penalties related to uncertain tax positions	576	395	223
Uncertain tax positions that may be resolved over next twelve months	400
Income Tax Payments and Refunds [Abstract]
Income taxes paid	70,362	37,770	22,684
Income tax refunds received	485	$ 388	$ 713
Federal Research and Development [Member]
Tax Credit Carryforward [Abstract]
Tax credit carryforward amount	$ 5,806
Federal Research and Development [Member] \| Minimum [Member]
Tax Credit Carryforward [Abstract]
Expiration period	Oct. 31, 2024
Federal Research and Development [Member] \| Maximum [Member]
Tax Credit Carryforward [Abstract]
Expiration period	Oct. 31, 2043
State [Member]
Tax Credit Carryforward [Abstract]
Tax credit carryforward amount	$ 5,042
State [Member] \| Minimum [Member]
Tax Credit Carryforward [Abstract]
Expiration period	Oct. 31, 2024
State [Member] \| Maximum [Member]
Tax Credit Carryforward [Abstract]
Expiration period	Oct. 31, 2037
Federal [Member]
Operating Loss Carryforward [Abstract]
Operating loss carryforwards amount	$ 86,765
Federal [Member] \| Minimum [Member]
Operating Loss Carryforward [Abstract]
Expiration periods	Oct. 31, 2029
State [Member]
Operating Loss Carryforward [Abstract]
Operating loss carryforwards amount	$ 148,934
State [Member] \| Minimum [Member]
Operating Loss Carryforward [Abstract]
Expiration periods	Oct. 31, 2024
Foreign [Member]
Operating Loss Carryforward [Abstract]
Operating loss carryforwards amount	$ 435
Foreign [Member] \| Minimum [Member]
Operating Loss Carryforward [Abstract]
Expiration periods	Oct. 31, 2024

ACCRUED LIABILITIES

12 Months Ended

Oct. 31, 2023

ACCRUED LIABILITIES [Abstract]

ACCRUED LIABILITIES

NOTE 7 - ACCRUED LIABILITIES

Presented below are the components of Accrued liabilities at the balance sheet dates. Prior year amounts have been reclassified to conform to the current year presentation.

	October 31, 2023		October 31, 2022
Compensation related expenses	$	37,218	$	33,061
Income taxes		24,080		37,595
Contract liabilities		9,965		18,872
Property, plant, and equipment		6,624		2,989
Value added and other taxes		3,523		2,923
Service Contracts		2,613		762
Operating leases		1,912		1,354
Telecommunications and utilities		1,311		1,111
Other		7,332		5,540
Accrued liabilities	$	94,578	$	104,207

INVENTORIES

12 Months Ended

Oct. 31, 2023

INVENTORIES [Abstract]

INVENTORIES

NOTE 4 - INVENTORIES

The components of Inventories at the balance sheet dates are presented below.

	October 31, 2023		October 31, 2022
Raw materials	$	48,948	$	49,326
Work in process		1,010		1,408
Finished goods		5		19
	$	49,963	$	50,753