0001140361-24-029174 | 10-Q | XBRL Viewer

Print Document

REVENUE (Policies)	6 Months Ended
REVENUE (Policies)	Apr. 28, 2024
REVENUE [Abstract]
Revenue	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 government 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 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 identify impairment indicators for any outstanding contract assets during the three or six-month periods ended April 28, 2024 or April 30, 2023. We generally record our accounts receivable at their billed amounts. All outstanding past due customer invoices are reviewed for collectability during, and at the end of, every reporting period. To the extent 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. We did not incur any credit losses on our accounts receivable during the three or six-month periods ended April 28, 2024 or April 30, 2023. 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 have 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

INVESTMENTS

6 Months Ended

Apr. 28, 2024

INVESTMENTS [Abstract]

INVESTMENTS

NOTE 3 - INVESTMENTS

The Company invests in various bank time deposits and U.S. Government Securities. Our classification of investments is 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 April 28, 2024, all of our investments had, at their dates of purchase, remaining maturities of more than three months, but less than one year, and have been classified as short-term investments. 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 - These are investments where values are based on unadjusted quoted prices for identical assets in an active market the Company has the ability to access.

Level 2 - These are investments where values are based on quoted market prices that are not active or model derived valuations in which all significant inputs are observable in active markets.

Level 3 - These are investments where values are derived from techniques in which one or more significant inputs are unobservable.

The following are the major categories of assets measured at fair value on a recurring basis using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2) and significant unobservable inputs (Level 3):

	April 28, 2024								October 31, 2023
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
U.S. Government Securities	$	6,585	$	-	$	-	$	6,585	$	12,915	$	-	$	-	$	12,915
Time deposits	$	-	$	59,370	$	-	$	59,370	$	-	$	-	$	-	$	-

Based upon the Company’s intent and ability to hold its time deposits to maturity (which maturities range up to twelve months at purchase), such securities have been classified as held-to-maturity and are carried at amortized cost, which approximates market value. The Company’s U.S. Government Securities are classified as available-for-sale. Available-for-sale investments are reported at fair value, with unrealized gains or losses (net of tax) reported in Accumulated other comprehensive income. In the event of a sale of these securities, 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 and time deposits classified as short-term investments.

	April 28, 2024									October 31, 2023
	Amortized Cost		Unrealized Gains		Unrealized Losses			Carrying Value		Amortized Cost		Unrealized Gains		Unrealized Losses			Carrying Value
U.S. Government Securities	$	6,580	$	6	$	(1	)	$	6,585	$	12,913	$	4	$	(2	)	$	12,915
Time deposits	$	59,370	$	-	$	-		$	59,370	$	-	$	-	$	-		$	-
Total	$	65,950	$	6	$	(1	)	$	65,955	$	12,913	$	4	$	(2	)	$	12,915

The Company’s investments in marketable securities consist primarily of investments in various time deposits and U.S. Government Securities. Market values were determined for each individual security in the investment portfolio. When evaluating the investments for other-than-temporary impairment, the Company reviews factors such as length of time and extent to which fair value has been below cost basis, the financial condition of the issuer, and the Company’s ability and intent to hold the investment for a period of time, which may be sufficient for anticipated recovery in market values.

CHANGES IN ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME BY COMPONENT (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Apr. 28, 2024	Apr. 30, 2023	Apr. 28, 2024	Apr. 30, 2023
CHANGES IN ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME BY COMPONENT [Abstract]
Other comprehensive income, tax	$ 0	$ 0	$ 0	$ 0
Changes in Accumulated Other Comprehensive Income [Roll Forward]
Beginning Balance			975,008
Ending Balance	1,034,857		1,034,857
Accumulated Other Comprehensive Income [Member]
Changes in Accumulated Other Comprehensive Income [Roll Forward]
Beginning Balance	(67,863)	(24,420)	(88,734)	(98,456)
Ending Balance	(95,932)	(59,505)	(95,932)	(59,505)
Foreign Currency Translation Adjustments [Member]
Changes in Accumulated Other Comprehensive Income [Roll Forward]
Beginning Balance	(67,160)	(23,737)	(88,044)	(97,790)
Ending Balance	(95,271)	(58,790)	(95,271)	(58,790)
Other [Member]
Changes in Accumulated Other Comprehensive Income [Roll Forward]
Beginning Balance	(703)	(683)	(690)	(666)
Ending Balance	(661)	(715)	(661)	(715)
AOCI Including Portion Attributable to Noncontrolling Interest [Member]
Changes in Accumulated Other Comprehensive Income [Roll Forward]
Other comprehensive (loss) income	(39,116)	(39,747)	(7,650)	50,718
Foreign Currency Translation Adjustments [Member]
Changes in Accumulated Other Comprehensive Income [Roll Forward]
Other comprehensive (loss) income	(39,198)	(39,813)	(7,705)	50,707
Other [Member]
Changes in Accumulated Other Comprehensive Income [Roll Forward]
Other comprehensive (loss) income	82	66	55	11
AOCI Attributable to Noncontrolling Interest [Member]
Changes in Accumulated Other Comprehensive Income [Roll Forward]
Other comprehensive (loss) income attributable to noncontrolling interests	11,047	4,662	452	(11,767)
Foreign Currency Translation Adjustments [Member]
Changes in Accumulated Other Comprehensive Income [Roll Forward]
Other comprehensive (loss) income attributable to noncontrolling interests	11,087	4,760	478	(11,707)
Other [Member]
Changes in Accumulated Other Comprehensive Income [Roll Forward]
Other comprehensive (loss) income attributable to noncontrolling interests	$ (40)	$ (98)	$ (26)	$ (60)

Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Apr. 28, 2024	May 30, 2024
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Period End Date	Apr. 28, 2024
Current Fiscal Year End Date	--10-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Document Transition Report	false
Entity File Number	000-15451
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 Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		63,356,950

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

6 Months Ended

Apr. 28, 2024

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 three and six-month periods ended April 28, 2024, and April 30, 2023.

	Three Months Ended April 28, 2024
	Foreign Currency Translation Adjustments			Other			Total

Balance at January 28, 2024	$	(67,160	)	$	(703	)	$	(67,863	)
Other comprehensive (loss) income		(39,198	)		82			(39,116	)
Other comprehensive (loss) income attributable to noncontrolling interests		11,087			(40	)		11,047

Balance at April 28, 2024	$	(95,271	)	$	(661	)	$	(95,932	)

	Three Months Ended April 30, 2023
	Foreign Currency Translation Adjustments			Other			Total

Balance at January 29, 2023	$	(23,737	)	$	(683	)	$	(24,420	)
Other comprehensive (loss) income		(39,813	)		66			(39,747	)
Other comprehensive (loss) income attributable to noncontrolling interests		4,760			(98	)		4,662

Balance at April 30, 2023	$	(58,790	)	$	(715	)	$	(59,505	)

	Six Months Ended April 28, 2024
	Foreign Currency Translation Adjustments			Other			Total

Balance at October 31, 2023	$	(88,044	)	$	(690	)	$	(88,734	)
Other comprehensive (loss) income		(7,705	)		55			(7,650	)
Other comprehensive (loss) income attributable to noncontrolling interests		478			(26	)		452

Balance at April 28, 2024	$	(95,271	)	$	(661	)	$	(95,932	)

	Six Months Ended April 30, 2023
	Foreign Currency Translation Adjustments			Other			Total

Balance at October 31, 2022	$	(97,790	)	$	(666	)	$	(98,456	)
Other comprehensive (loss) income		50,707			11			50,718
Other comprehensive (loss) income attributable to noncontrolling interests		(11,707	)		(60	)		(11,767	)

Balance at April 30, 2023	$	(58,790	)	$	(715	)	$	(59,505	)

COMMITMENTS AND CONTINGENCIES (Details) $ in Millions	1 Months Ended	3 Months Ended	6 Months Ended
COMMITMENTS AND CONTINGENCIES (Details) $ in Millions	Nov. 30, 2022 USD ($)	May 01, 2022 USD ($) Operation	Apr. 28, 2024 USD ($)
Commitment and Contingencies [Abstract]
Outstanding commitments for capital expenditure			$ 133.3
Period of audit			3 years
Contingency loss recorded		$ 2.2
Reversal of loss contingency accrual	$ 1.0
Minimum [Member]
Commitment and Contingencies [Abstract]
Range of estimated contingency loss		2.2
Maximum [Member]
Commitment and Contingencies [Abstract]
Range of estimated contingency loss		$ 3.7
China [Member]
Commitment and Contingencies [Abstract]
Number of operations \| Operation		1

EARNINGS PER SHARE (Tables)

6 Months Ended

Apr. 28, 2024

EARNINGS PER SHARE [Abstract]

Calculation of Basic and Diluted Earnings Per Share

The calculations of basic and diluted earnings per share are presented below.

	Three Months Ended				Six Months Ended
	April 28, 2024		April 30, 2023		April 28, 2024		April 30, 2023
Net income attributable to Photronics, Inc. shareholders	$	36,251	$	39,929	$	62,431	$	53,915
Effect of dilutive securities		-		-		-		-
Earnings used for diluted earnings per share	$	36,251	$	39,929	$	62,431	$	53,915

Weighted-average common shares computations:
Weighted-average common shares used for basic earnings per share		61,771		61,138		61,613		61,016
Effect of dilutive securities:
Share-based payment awards		638		369		733		473
Potentially dilutive common shares		638		369		733		473

Weighted-average common shares used for diluted earnings per share		62,409		61,507		62,346		61,489

Basic earnings per share	$	0.59	$	0.65	$	1.01	$	0.88
Diluted earnings per share	$	0.58	$	0.65	$	1.00	$	0.88

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

The table below illustrates 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.

	Three Months Ended				Six Months Ended
	April 28, 2024		April 30, 2023		April 28, 2024		April 30, 2023
Share-based payment awards		-		267		121		535
Total potentially dilutive shares excluded		-		267		121		535

PROPERTY, PLANT, AND EQUIPMENT, NET

6 Months Ended

Apr. 28, 2024

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.

	April 28, 2024			October 31, 2023
Land	$	11,354		$	11,378
Buildings and improvements		185,921			185,850
Machinery and equipment		1,942,506			1,922,041
Leasehold improvements		18,820			18,894
Furniture, fixtures, and office equipment		16,918			15,856
Construction in progress		83,143			55,434
		2,258,662			2,209,453
Accumulated depreciation and amortization		(1,529,173	)		(1,500,209	)
	$	729,489		$	709,244

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

	April 28, 2024			October 31, 2023
Machinery and equipment	$	42,816		$	42,820
Accumulated amortization		(9,064	)		(7,655	)
	$	33,752		$	35,165

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

	Three Months Ended				Six Months Ended
	April 28, 2024		April 30, 2023		April 28, 2024		April 30, 2023
Depreciation Expense	$	20,689		19,880	$	41,294	$	38,908

REVENUE

6 Months Ended

Apr. 28, 2024

REVENUE [Abstract]

REVENUE

NOTE 8 - REVENUE

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 government 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 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 identify impairment indicators for any outstanding contract assets during the three or six-month periods ended April 28, 2024 or April 30, 2023.

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

Classification	April 28, 2024		October 31, 2023
Contract Assets
Other current assets	$	12,292	$	10,984

Contract Liabilities
Accrued liabilities	$	14,558	$	9,965
Other liabilities		8,224		12,454
	$	22,782	$	22,419

The Company did not recognize any revenue from performance obligations satisfied in the previous periods. The following table presents revenue recognized from contract liabilities that existed at the beginning of the reporting periods.

	Three Months Ended				Six Months Ended
	April 28, 2024		April 30, 2023		April 28, 2024		April 30, 2023
Revenue recognized from beginning liability	$	6,495	$	11,228	$	7,746	$	7,875

We generally record our accounts receivable at their billed amounts. All outstanding past due customer invoices are reviewed for collectability during, and at the end of, every reporting period. To the extent 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. We did not incur any credit losses on our accounts receivable during the three or six-month periods ended April 28, 2024 or April 30, 2023.

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 have received from customers have generally not preceded the completion of our performance obligations by more than one year.

Disaggregation of Revenue

The following tables present our revenue for the three and six-month periods ended April 28, 2024, and April 30, 2023, disaggregated by product type, geographic origin, and timing of recognition.

	Three Months Ended				Six Months Ended
Revenue by Product Type	April 28, 2024		April 30, 2023		April 28, 2024		April 30, 2023
IC
High-end	$	58,042	$	43,920	$	118,918	$	91,923
Mainstream		102,886		123,134		199,599		231,720
Total IC	$	160,928	$	167,054	$	318,517	$	323,643


FPD
High-end	$	47,977	$	51,888	$	98,593	$	97,579
Mainstream		8,095		10,364		16,224		19,175
Total FPD	$	56,072	$	62,252	$	114,817	$	116,754

	$	217,000	$	229,306	$	433,334	$	440,397

	Three Months Ended				Six Months Ended
Revenue by Geographic Origin^*	April 28, 2024		April 30, 2023		April 28, 2024		April 30, 2023
Taiwan	$	75,410	$	80,448	$	150,376	$	156,017
China		58,693		65,215		116,829		124,148
Korea		39,286		41,372		79,621		79,204
United States		33,314		32,495		66,047		62,377
Europe		9,926		9,276		19,631		17,722
Other		371		500		830		929
	$	217,000	$	229,306	$	433,334	$	440,397

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

	Three Months Ended				Six Months Ended
Revenue by Timing of Recognition	April 28, 2024		April 30, 2023		April 28, 2024		April 30, 2023
Over time	$	211,189	$	215,376	$	414,716	$	412,541
At a point in time		5,811		13,930		18,618		27,856
		217,000		229,306		433,334		440,397

Contract Costs

We pay commissions to third-party sales agents for certain sales 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 do 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 contract obtainment costs as assets.

Remaining Performance Obligations

As we are typically required to fulfill customer orders within a short period of time, our backlog of orders has historically been two to three weeks for FPD photomasks and one to two weeks for IC photomasks. However, the demand for some IC photomasks has expanded beyond the industry’s capacity to supply them within the traditional time period; thus, the backlog, in some cases, can expand 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 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.

- 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

ACCOUNT RECEIVABLES

6 Months Ended

Apr. 28, 2024

ACCOUNT RECEIVABLES [Abstract]

ACCOUNT RECEIVABLES

NOTE 2 - ACCOUNT RECEIVABLES

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

	April 28,			October 31,
	2024			2023
Accounts Receivable	$	175,034		$	171,433
Unbilled Receivable		23,525			24,593
Allowance for Credit Losses		(1,036	)		(1,099	)
	$	197,523		$	194,927

RECENT ACCOUNTING PRONOUNCEMENTS	6 Months Ended
RECENT ACCOUNTING PRONOUNCEMENTS	Apr. 28, 2024
RECENT ACCOUNTING PRONOUNCEMENTS [Abstract]
RECENT ACCOUNTING PRONOUNCEMENTS	NOTE 15 - RECENT ACCOUNTING PRONOUNCEMENTS Accounting Standards Updates to be Adopted In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures”, to enhance the transparency and decision usefulness of income tax disclosures. The amendments in this Update related to the rate reconciliation and income taxes paid disclosures to improve the transparency of income tax disclosures by requiring (1) consistent categories and greater disaggregation of information in the rate reconciliation and (2) income taxes paid disaggregated by jurisdiction. The amendments allow investors to better assess, in their capital allocation decisions, how an entity’s worldwide operations and related tax risks and tax planning and operational opportunities affect its income tax rate and prospects for future cash flows. The guidance in this Update will be effective for Photronics in its fiscal year 2026 Form 10-K, with early application of the amendments allowed. We are currently evaluating the effect the adoption of this ASU may have on our disclosures. 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 Photronics in its fiscal year 2025 Form 10-K, with early adoption permitted. 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

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

3 Months Ended

6 Months Ended

Apr. 28, 2024

Apr. 30, 2023

Apr. 28, 2024

Apr. 30, 2023

Disaggregation of Revenue [Abstract]

Revenue

^[1]

$ 217,000

$ 229,306

$ 433,334

$ 440,397

IC [Member]

Disaggregation of Revenue [Abstract]

Revenue

160,928

167,054

318,517

323,643

High-end [Member]

Disaggregation of Revenue [Abstract]

Revenue

58,042

43,920

118,918

91,923

Mainstream [Member]

Disaggregation of Revenue [Abstract]

Revenue

102,886

123,134

199,599

231,720

FPD [Member]

Disaggregation of Revenue [Abstract]

Revenue

56,072

62,252

114,817

116,754

High-end [Member]

Disaggregation of Revenue [Abstract]

Revenue

47,977

51,888

98,593

97,579

Mainstream [Member]

Disaggregation of Revenue [Abstract]

Revenue

8,095

10,364

16,224

19,175

Taiwan [Member]

Disaggregation of Revenue [Abstract]

Revenue

^[1]

75,410

80,448

150,376

156,017

China [Member]

Disaggregation of Revenue [Abstract]

Revenue

^[1]

58,693

65,215

116,829

124,148

Korea [Member]

Disaggregation of Revenue [Abstract]

Revenue

^[1]

39,286

41,372

79,621

79,204

United States [Member]

Disaggregation of Revenue [Abstract]

Revenue

^[1]

33,314

32,495

66,047

62,377

Europe [Member]

Disaggregation of Revenue [Abstract]

Revenue

^[1]

9,926

9,276

19,631

17,722

Other [Member]

Disaggregation of Revenue [Abstract]

Revenue

^[1]

371

500

830

929

Over Time [Member]

Disaggregation of Revenue [Abstract]

Revenue

211,189

215,376

414,716

412,541

At a Point in Time [Member]

Disaggregation of Revenue [Abstract]

Revenue

$ 5,811

$ 13,930

$ 18,618

$ 27,856

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

SHARE-BASED COMPENSATION (Tables)

6 Months Ended

Apr. 28, 2024

SHARE-BASED COMPENSATION [Abstract]

Share-based Compensation Expenses

The table below presents information on our share-based compensation expenses for the three and six-month periods ended April 28, 2024 and April 30, 2023.

	Three Months Ended				Six Months Ended
	April 28, 2024		April 30, 2023		April 28, 2024		April 30, 2023
Expense reported in:
Cost of goods sold	$	669	$	288	$	1,263	$	570
Selling, general, and administrative		2,987		1,531		4,737		2,908
Research and development		270		190		499		352
Total expense incurred	$	3,926	$	2,009	$	6,499	$	3,830

Expense by award type:
Restricted stock awards	$	3,926	$	1,974	$	6,499	$	3,738
Stock options		-		-		-		1
Employee stock purchase plan		-		35		-		91
Total expense incurred	$	3,926	$	2,009	$	6,499	$	3,830

Income tax benefits of share-based compensation	$	323	$	207	$	421	$	361
Share-based compensation cost capitalized	$	-	$	-	$	-	$	-

Restricted Stock Awards Activity

The table below presents information on our restricted stock awards for the three and six-month periods ended April 28, 2024 and April 30, 2023.

	Three Months Ended				Six Months Ended
	April 28, 2024		April 30, 2023		April 28, 2024		April 30, 2023
Number of shares granted in period		-		-		825,050		786,500
Weighted-average grant-date fair value of awards (in dollars per share)	$	-	$	-	$	29.77	$	16.77
Compensation cost not yet recognized	$	28,695	$	16,419	$	28,695	$	16,419
Weighted-average amortization period for cost not yet recognized (in years)		3.1		3.0		3.1		3.0
Shares outstanding at balance sheet date		1,560,540		1,328,572		1,560,540		1,328,572

Stock Options Activity

The table below presents information on our stock options for three and six-month periods ended April 28, 2024 and April 30, 2023.

	Three Months Ended				Six Months Ended
	April 28, 2024		April 30, 2023		April 28, 2024		April 30, 2023
Number of options granted in period		-		-		-		-
Cash received from option exercised	$	119	$	20	$	1,055	$	583
Compensation cost not yet recognized	$	-	$	-	$	-	$	-
Weighted-average amortization period for cost not yet recognized (in years)		-		-		-		-

Information on Outstanding and Exercisable Option

Information on outstanding and exercisable option awards as of April 28, 2024, is presented below.

Options		Shares				Weighted Average Exercise Price				Weighted Average Remaining Contractual Life (in years)				Aggregate Intrinsic Value
Outstanding and exercisable at April 28, 2024			360,125			$	10.33				2.34			$	6,466

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Apr. 28, 2024	Apr. 30, 2023	Apr. 28, 2024	Apr. 30, 2023
Condensed Consolidated Statements of Comprehensive Income [Abstract]
Net income	$ 56,372	$ 59,273	$ 95,454	$ 88,223
Other comprehensive (loss) income, net of tax of $0:
Foreign currency translation adjustments	(39,198)	(39,813)	(7,705)	50,707
Other	82	66	55	11
Net other comprehensive (loss) income	(39,116)	(39,747)	(7,650)	50,718
Comprehensive income	17,256	19,526	87,804	138,941
Less: comprehensive income attributable to noncontrolling interests	9,074	14,682	32,571	46,075
Comprehensive income attributable to Photronics, Inc. shareholders	$ 8,182	$ 4,844	$ 55,233	$ 92,866

- 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

ACCOUNT RECEIVABLES (Tables)

6 Months Ended

Apr. 28, 2024

ACCOUNT RECEIVABLES [Abstract]

Accounts Receivable

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

	April 28,			October 31,
	2024			2023
Accounts Receivable	$	175,034		$	171,433
Unbilled Receivable		23,525			24,593
Allowance for Credit Losses		(1,036	)		(1,099	)
	$	197,523		$	194,927

INCOME TAXES (Tables)

6 Months Ended

Apr. 28, 2024

INCOME TAXES [Abstract]

Reconciliation of Effective Income Tax Rates from U.S. Statutory Tax Rates

The table below sets forth the primary reasons that our effective income tax rates differed from the U.S. statutory tax rates in effect during the three and six-month periods ended April 28, 2024 and April 30, 2023.

Reporting Period	U.S. Statutory Tax Rates		Photronics Effective Tax Rates		Primary Reasons for Differences

Three months ended April 28, 2024		21.0%		26.4%	Non-recognition of the tax benefit of losses that, in certain jurisdictions, have been offset by valuation allowances, non-U.S. pre-tax income being taxed at higher statutory rates in the non-U.S. jurisdictions, and the establishment of uncertain tax positions in non-U.S. jurisdictions.

Three months ended April 30, 2023		21.0%		26.5%	Non-recognition of the tax benefit of losses that, in certain jurisdictions, have been offset by valuation allowances, non-U.S. pre-tax income being taxed at higher statutory rates in the non-U.S. jurisdictions, and the establishment of uncertain tax positions in non-U.S. jurisdictions.

Six months ended April 28, 2024		21.0%		26.8%	Non-recognition of the tax benefit of losses that, in certain jurisdictions, have been offset by valuation allowances, non-U.S. pre-tax income being taxed at higher statutory rates in the non-U.S. jurisdictions, and the establishment of uncertain tax positions in non-U.S. jurisdictions.

Six months ended April 30, 2023		21.0%		27.8%	Non-recognition of the tax benefit of losses that, in certain jurisdictions, have been offset by valuation allowances, non-U.S. pre-tax income being taxed at higher statutory rates in the non-U.S. jurisdictions, and the establishment of uncertain tax positions in non-U.S. jurisdictions.

Unrecognized Tax Benefits

The table below presents information on our unrecognized tax benefits as of the balance sheet dates.

	April 28, 2024		October 31, 2023
Unrecognized tax benefits related to uncertain tax positions	$	10,828	$	8,908
Unrecognized tax benefits that, if recognized, would impact the effective tax rate	$	10,828	$	8,908
Accrued interest and penalties related to uncertain tax positions	$	804	$	576

PDMCX JOINT VENTURE, VIE (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		6 Months Ended
PDMCX JOINT VENTURE, VIE (Details) - USD ($) $ in Thousands	Jan. 31, 2018	Apr. 28, 2024	Apr. 30, 2023	Apr. 28, 2024	Apr. 30, 2023	Oct. 31, 2023
Variable Interest Entity [Abstract]
Long-term debt		$ 2,456		$ 2,456		$ 17,998
Photronics and DNP [Member]
Variable Interest Entity [Abstract]
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		$ 5,464	$ 6,652	$ 11,928	$ 12,569
Photronics and DNP [Member] \| Minimum [Member]
Variable Interest Entity [Abstract]
Ownership percentage				20.00%
PDMCX [Member]
Variable Interest Entity [Abstract]
Long-term debt						$ 0
Photronics Interest [Member]
Variable Interest Entity [Abstract]
Ownership percentage				50.01%
DNP [Member]
Variable Interest Entity [Abstract]
Ownership percentage	49.99%

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Apr. 28, 2024	Apr. 30, 2023
Cash flows from operating activities:
Net income	$ 95,454	$ 88,223
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	41,487	39,085
Share-based compensation	6,499	3,830
Changes in assets and liabilities:
Accounts receivable	(2,415)	(5,952)
Inventories	(4,407)	(1,905)
Other current assets	(4,340)	1,382
Accounts payable, accrued liabilities, and other	(14,284)	(14,986)
Net cash provided by operating activities	117,994	109,677
Cash flows from investing activities:
Purchases of property, plant and equipment	(63,311)	(57,728)
Purchases of short-term investments	(66,040)	(9,837)
Proceeds from maturities of short-term investments	13,234	4,000
Government incentives	1,419	1,393
Other	(6)	(88)
Net cash used in investing activities	(114,704)	(62,260)
Cash flows from financing activities:
Repayments of debt	(2,844)	(14,720)
Proceeds from share-based arrangements	1,055	730
Net settlements of restricted stock awards	(2,938)	(1,252)
Net cash used in financing activities	(4,727)	(15,242)
Effects of exchange rate changes on cash, cash equivalents, and restricted cash	(3,839)	15,621
Net increase (decrease) in cash, cash equivalents, and restricted cash	(5,276)	47,796
Cash, cash equivalents, and restricted cash at beginning of period	501,867	322,409
Cash, cash equivalents, and restricted cash at end of period	496,591	370,205
Less: Ending restricted cash	2,686	2,720
Cash and cash equivalents at end of period	493,905	367,485
Supplemental disclosure of non-cash information:
Accruals for property, plant and equipment purchased during the period	$ 7,871	$ 14,420

REVENUE, Contract Assets, Liabilities and Accounts Receivable (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Apr. 28, 2024	Apr. 30, 2023	Apr. 28, 2024	Apr. 30, 2023	Oct. 31, 2023
Contract with Customer, Asset and Liability [Abstract]
Impairment of credit losses on accounts receivable	$ 0	$ 0	$ 0	$ 0
Credit losses on accounts receivable	0	0	0	0
Contract liabilities	22,782		22,782		$ 22,419
Change in Contract with Customer, Liability [Abstract]
Revenue from performance obligation	0		0
Revenue recognized from beginning liability	6,495	$ 11,228	7,746	$ 7,875
Other Current Assets [Member]
Contract with Customer, Asset and Liability [Abstract]
Contract assets	12,292		12,292		10,984
Accrued Liabilities [Member]
Contract with Customer, Asset and Liability [Abstract]
Contract liabilities	14,558		14,558		9,965
Other Liabilities [Member]
Contract with Customer, Asset and Liability [Abstract]
Contract liabilities	$ 8,224		$ 8,224		$ 12,454
Minimum [Member]
Revenue, Performance Obligation [Abstract]
Product invoice term			30 days
Product warranty period			1 month
Maximum [Member]
Revenue, Performance Obligation [Abstract]
Product invoice term			90 days
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

INCOME TAXES

6 Months Ended

Apr. 28, 2024

INCOME TAXES [Abstract]

INCOME TAXES

NOTE 10 - INCOME TAXES

We calculate our provision for income taxes at the end of each interim reporting period on the basis of an estimated annual effective tax rate adjusted for tax items that are discrete to each period. The table below sets forth the primary reasons that our effective income tax rates differed from the U.S. statutory tax rates in effect during the three and six-month periods ended April 28, 2024 and April 30, 2023.

Reporting Period	U.S. Statutory Tax Rates		Photronics Effective Tax Rates		Primary Reasons for Differences

Three months ended April 28, 2024		21.0%		26.4%	Non-recognition of the tax benefit of losses that, in certain jurisdictions, have been offset by valuation allowances, non-U.S. pre-tax income being taxed at higher statutory rates in the non-U.S. jurisdictions, and the establishment of uncertain tax positions in non-U.S. jurisdictions.

Three months ended April 30, 2023		21.0%		26.5%	Non-recognition of the tax benefit of losses that, in certain jurisdictions, have been offset by valuation allowances, non-U.S. pre-tax income being taxed at higher statutory rates in the non-U.S. jurisdictions, and the establishment of uncertain tax positions in non-U.S. jurisdictions.

Six months ended April 28, 2024		21.0%		26.8%	Non-recognition of the tax benefit of losses that, in certain jurisdictions, have been offset by valuation allowances, non-U.S. pre-tax income being taxed at higher statutory rates in the non-U.S. jurisdictions, and the establishment of uncertain tax positions in non-U.S. jurisdictions.

Six months ended April 30, 2023		21.0%		27.8%	Non-recognition of the tax benefit of losses that, in certain jurisdictions, have been offset by valuation allowances, non-U.S. pre-tax income being taxed at higher statutory rates in the non-U.S. jurisdictions, and the establishment of uncertain tax positions in non-U.S. jurisdictions.

Uncertain Tax Positions

Although the timing of reversal of uncertain tax positions may be uncertain, as they can be dependent upon the settlement of tax audits, we believe that the amount of uncertain tax positions (including interest and penalties, and net of tax benefits) that may be resolved over the next twelve months is immaterial. Resolution of these uncertain tax positions may result from either or both the lapses of statutes of limitations and tax settlements. We are no longer subject to tax authority examinations in the U.S., major foreign, or state tax jurisdictions for years prior to fiscal year 2018. The table below presents information on our unrecognized tax benefits as of the balance sheet dates.

	April 28, 2024		October 31, 2023
Unrecognized tax benefits related to uncertain tax positions	$	10,828	$	8,908
Unrecognized tax benefits that, if recognized, would impact the effective tax rate	$	10,828	$	8,908
Accrued interest and penalties related to uncertain tax positions	$	804	$	576

- 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

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

3 Months Ended

6 Months Ended

Apr. 28, 2024

Apr. 30, 2023

Apr. 28, 2024

Apr. 30, 2023

Condensed Consolidated Statements of Income [Abstract]

Revenue

^[1]

$ 217,000

$ 229,306

$ 433,334

$ 440,397

Cost of goods sold

137,749

140,904

274,828

275,918

Gross profit

79,251

88,402

158,506

164,479

Operating expenses:

Selling, general, and administrative

18,996

17,878

37,317

34,696

Research and development

4,292

3,479

7,736

6,781

Total operating expenses

23,288

21,357

45,053

41,477

Other operating income, net

Operating income

56,052

67,045

113,542

123,002

Other income (expense):

Foreign currency transactions impact, net

14,766

10,718

5,858

(6,226)

Interest income and other income, net

5,878

2,987

11,128

5,570

Interest expense

(110)

(134)

(200)

(198)

Income before income tax provision

76,586

80,616

130,328

122,148

Income tax provision

20,214

21,343

34,874

33,925

Net income

56,372

59,273

95,454

88,223

Net income attributable to noncontrolling interests

20,121

19,344

33,023

34,308

Net income attributable to Photronics, Inc. shareholders

$ 36,251

$ 39,929

$ 62,431

$ 53,915

Earnings per share:

Basic (in dollars per share)

$ 0.59

$ 0.65

$ 1.01

$ 0.88

Diluted (in dollars per share)

$ 0.58

$ 0.65

$ 1

$ 0.88

Weighted-average number of common shares outstanding:

Basic (in shares)

61,771

61,138

61,613

61,016

Diluted (in shares)

62,409

61,507

62,346

61,489

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

PROPERTY, PLANT, AND EQUIPMENT, NET (Tables)

6 Months Ended

Apr. 28, 2024

PROPERTY, PLANT, AND EQUIPMENT, NET [Abstract]

Components of Property, Plant and Equipment, Net

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

	April 28, 2024			October 31, 2023
Land	$	11,354		$	11,378
Buildings and improvements		185,921			185,850
Machinery and equipment		1,942,506			1,922,041
Leasehold improvements		18,820			18,894
Furniture, fixtures, and office equipment		16,918			15,856
Construction in progress		83,143			55,434
		2,258,662			2,209,453
Accumulated depreciation and amortization		(1,529,173	)		(1,500,209	)
	$	729,489		$	709,244

Information on ROU Assets from Finance Leases

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

	April 28, 2024			October 31, 2023
Machinery and equipment	$	42,816		$	42,820
Accumulated amortization		(9,064	)		(7,655	)
	$	33,752		$	35,165

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.

	Three Months Ended				Six Months Ended
	April 28, 2024		April 30, 2023		April 28, 2024		April 30, 2023
Depreciation Expense	$	20,689		19,880	$	41,294	$	38,908

PDMCX JOINT VENTURE

6 Months Ended

Apr. 28, 2024

PDMCX JOINT VENTURE [Abstract]

PDMCX JOINT VENTURE

NOTE 6 - PDMCX JOINT VENTURE

In January 2018, Photronics, Inc., through its wholly owned Singapore subsidiary (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 7, liens were granted to the local financing entity on property, plant, and equipment and were paid off during fiscal year 2023 and there was no remaining debt at October 31, 2023.

Under the Agreement, 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 20.0% for a period of more than six consecutive months. Under 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.

	Three Months Ended				Six Months Ended
	April 28, 2024		April 30, 2023		April 28, 2024		April 30, 2023
Net income from PDMCX	$	5,464	$	6,652	$	11,928	$	12,569

As required by the guidance in Topic 810 - “Consolidation” of the Accounting Standards Codification (“ASC”), 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 variable interest entity (“VIE”). Due to its lack of sufficient equity at risk to finance its activities without additional subordinated financial support, we determined that it was 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 year reporting periods; thus, as required, the PDMCX financial results have been consolidated with Photronics. Our conclusion was based on the facts 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 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 reporting 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 condensed 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.

	April 28, 2024				October 31, 2023
Classification	Carrying Amount		Photronics Interest		Carrying Amount		Photronics Interest
Current assets	$	150,329	$	75,180	$	135,960	$	67,994
Noncurrent assets		144,435		72,232		136,334		68,181
Total assets		294,764		147,412		272,294		136,175

Current liabilities		32,810		16,408		36,305		18,156
Noncurrent liabilities		1,901		951		1,873		937
Total liabilities		34,711		17,359		38,178		19,093

Net assets	$	260,053	$	130,053	$	234,116	$	117,082

SHARE-BASED COMPENSATION

6 Months Ended

Apr. 28, 2024

SHARE-BASED COMPENSATION [Abstract]

SHARE-BASED COMPENSATION

NOTE 9 - 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 was 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), the vesting of awards may be accelerated. The Plan prohibits further awards from being issued under prior plans. The table below presents information on our share-based compensation expenses for the three and six-month periods ended April 28, 2024 and April 30, 2023.

	Three Months Ended				Six Months Ended
	April 28, 2024		April 30, 2023		April 28, 2024		April 30, 2023
Expense reported in:
Cost of goods sold	$	669	$	288	$	1,263	$	570
Selling, general, and administrative		2,987		1,531		4,737		2,908
Research and development		270		190		499		352
Total expense incurred	$	3,926	$	2,009	$	6,499	$	3,830

Expense by award type:
Restricted stock awards	$	3,926	$	1,974	$	6,499	$	3,738
Stock options		-		-		-		1
Employee stock purchase plan		-		35		-		91
Total expense incurred	$	3,926	$	2,009	$	6,499	$	3,830

Income tax benefits of share-based compensation	$	323	$	207	$	421	$	361
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 value of the awards is determined on the date of grant, based on the closing price of our common stock. The table below presents information on our restricted stock awards for the three and six-month periods ended April 28, 2024 and April 30, 2023.

	Three Months Ended				Six Months Ended
	April 28, 2024		April 30, 2023		April 28, 2024		April 30, 2023
Number of shares granted in period		-		-		825,050		786,500
Weighted-average grant-date fair value of awards (in dollars per share)	$	-	$	-	$	29.77	$	16.77
Compensation cost not yet recognized	$	28,695	$	16,419	$	28,695	$	16,419
Weighted-average amortization period for cost not yet recognized (in years)		3.1		3.0		3.1		3.0
Shares outstanding at balance sheet date		1,560,540		1,328,572		1,560,540		1,328,572

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 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 information on our stock options for three and six-month periods ended April 28, 2024 and April 30, 2023.

	Three Months Ended				Six Months Ended
	April 28, 2024		April 30, 2023		April 28, 2024		April 30, 2023
Number of options granted in period		-		-		-		-
Cash received from option exercised	$	119	$	20	$	1,055	$	583
Compensation cost not yet recognized	$	-	$	-	$	-	$	-
Weighted-average amortization period for cost not yet recognized (in years)		-		-		-		-

Information on outstanding and exercisable option awards as of April 28, 2024, is presented below.

Options		Shares				Weighted Average Exercise Price				Weighted Average Remaining Contractual Life (in years)				Aggregate Intrinsic Value
Outstanding and exercisable at April 28, 2024			360,125			$	10.33				2.34			$	6,466

INCOME TAXES (Policies)	6 Months Ended
INCOME TAXES (Policies)	Apr. 28, 2024
INCOME TAXES [Abstract]
Income Taxes	We calculate our provision for income taxes at the end of each interim reporting period on the basis of an estimated annual effective tax rate adjusted for tax items that are discrete to each period. The table below sets forth the primary reasons that our effective income tax rates differed from the U.S. statutory tax rates in effect during the three and six-month periods ended April 28, 2024 and April 30, 2023.

- Definition

Disclosure of accounting policy for income taxes, which may include its accounting policies for recognizing and measuring deferred tax assets and liabilities and related valuation allowances, recognizing investment tax credits, operating loss carryforwards, tax credit carryforwards, and other carryforwards, methodologies for determining its effective income tax rate and the characterization of interest and penalties in the financial statements.

+ References + Details

BASIS OF FINANCIAL STATEMENT PRESENTATION (Policies)	6 Months Ended
BASIS OF FINANCIAL STATEMENT PRESENTATION (Policies)	Apr. 28, 2024
BASIS OF FINANCIAL STATEMENT PRESENTATION [Abstract]
Consolidation	The accompanying unaudited condensed consolidated financial statements (“the financial statements”) have been prepared in accordance with U.S. GAAP for interim financial information, and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for annual financial statements. In the opinion of management, adjustments, all of which are of a normal recurring nature, considered necessary for a fair presentation have been included. The financial statements include the accounts of Photronics, its wholly owned subsidiaries, and the majority-owned subsidiaries, which it controls. All significant intercompany balances and transactions have been eliminated in consolidation. These financial statements should be read in conjunction with the consolidated financial statements and accompanying notes included in our Form 10-K for the fiscal year ended October 31, 2023, where we discuss and provide additional information about our accounting policies and the methods and assumptions used in our estimates.
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 we believe to be reasonable under the facts and circumstances 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.

DEBT, Xiamen Working Capital Loans (Details) - Xiamen Working Capital Loans [Member] ¥ in Millions, $ in Millions	1 Months Ended		6 Months Ended
	Dec. 31, 2022 USD ($)	Dec. 31, 2022 CNY (¥)	Apr. 28, 2024 USD ($)	Nov. 30, 2018 USD ($)
Debt Instruments [Abstract]
Maximum borrowing capacity				$ 25.0
Expiration date			Jul. 31, 2024
Repayments of long-term debt	$ 3.6	¥ 25.6
Amount outstanding			$ 0.0

BASIS OF FINANCIAL STATEMENT PRESENTATION (Details)	6 Months Ended
BASIS OF FINANCIAL STATEMENT PRESENTATION (Details)	Apr. 28, 2024 Facility
Manufacturing Facilities [Abstract]
Number of manufacturing facilities	11
Taiwan [Member]
Manufacturing Facilities [Abstract]
Number of manufacturing facilities	3
Korea [Member]
Manufacturing Facilities [Abstract]
Number of manufacturing facilities	1
China [Member]
Manufacturing Facilities [Abstract]
Number of manufacturing facilities	2
United States [Member]
Manufacturing Facilities [Abstract]
Number of manufacturing facilities	3
Europe [Member]
Manufacturing Facilities [Abstract]
Number of manufacturing facilities	2

DEBT (Tables)

6 Months Ended

Apr. 28, 2024

DEBT [Abstract]

Long-term Debt

As of April 28, 2024, the Current portion of long-term debt and the Long-term debt balances were comprised of finance leases as described below:

As of April 28, 2024	Finance Leases
Principal due:
Next 12 months	$	19,318
Months 13 – 24	$	2,436
Months 25 – 36		12
Months 37 – 48		8
Months 49 – 60		-
Long-term debt		2,456
Total debt	$	21,774

Interest rate at balance sheet date		N/A
Basis spread on interest rates		N/A
Interest rate reset		N/A
Maturity date		N/A
Periodic payment amount		Varies as Lease mature
Periodic payment frequency	Monthly
Loan collateral (carrying amount)	$	33,752	⁽¹⁾

⁽¹⁾

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

The table below provides information on our long-term debt as of October 31, 2023.

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

Interest rate at balance sheet date		N/A
Basis spread on interest rates		N/A
Interest rate reset		N/A
Maturity date		N/A
Periodic payment amount		Varies as Lease mature
Periodic payment frequency		Monthly
Loan collateral (carrying amount)	$	35,165	⁽¹⁾

⁽¹⁾

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

DEBT, Finance Leases (Details) - USD ($) $ in Thousands	1 Months Ended
DEBT, Finance Leases (Details) - USD ($) $ in Thousands	Feb. 28, 2021	Jan. 31, 2021	Apr. 28, 2024	Dec. 31, 2020
$7.2 Million Finance Lease [Member]
Finance Lease, [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]
Finance Lease, [Abstract]
Finance lease monthly payments	$ 100
$35.5 Million Finance Lease [Member]
Finance Lease, [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]
Finance Lease, [Abstract]
Finance lease monthly payments		$ 40
$35.5 Million Finance Lease [Member] \| Following Nine Months [Member]
Finance Lease, [Abstract]
Finance lease monthly payments		600
$35.5 Million Finance Lease [Member] \| Forty Eight Months [Member]
Finance Lease, [Abstract]
Finance lease monthly payments		500
$35.5 Million Finance Lease [Member] \| Minimum [Member]
Finance Lease, [Abstract]
Outstanding committed balance for cross default provision		$ 5,000

INVENTORIES (Policies)	6 Months Ended
INVENTORIES (Policies)	Apr. 28, 2024
INVENTORIES [Abstract]
Inventories	Inventories are stated at the lower of cost, determined under the first-in, first-out (“FIFO”) method, or net realizable value.

- Definition

Disclosure of inventory accounting policy for inventory classes, including, but not limited to, basis for determining inventory amounts, methods by which amounts are added and removed from inventory classes, loss recognition on impairment of inventories, and situations in which inventories are stated above cost.

+ References + Details

PDMCX JOINT VENTURE, Carrying Amounts of Assets and Liabilities (Details) - USD ($) $ in Thousands	Apr. 28, 2024	Oct. 31, 2023
Carrying Amounts of Assets and Liabilities [Abstract]
Current assets	$ 844,133	$ 785,450
Total assets	1,603,453	1,526,221
Current liabilities	195,567	185,223
Total liabilities	235,424	250,612
Carrying Amount [Member]
Carrying Amounts of Assets and Liabilities [Abstract]
Current assets	150,329	135,960
Noncurrent assets	144,435	136,334
Total assets	294,764	272,294
Current liabilities	32,810	36,305
Noncurrent liabilities	1,901	1,873
Total liabilities	34,711	38,178
Net assets	260,053	234,116
Photronics Interest [Member]
Carrying Amounts of Assets and Liabilities [Abstract]
Current assets	75,180	67,994
Noncurrent assets	72,232	68,181
Total assets	147,412	136,175
Current liabilities	16,408	18,156
Noncurrent liabilities	951	937
Total liabilities	17,359	19,093
Net assets	$ 130,053	$ 117,082

SHARE-BASED COMPENSATION (Policies)	6 Months Ended
SHARE-BASED COMPENSATION (Policies)	Apr. 28, 2024
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 value of the awards is determined on the date of grant, based on the closing 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 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 information on our stock options for three and six-month periods ended April 28, 2024 and April 30, 2023.

- 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

INVESTMENTS (Tables)

6 Months Ended

Apr. 28, 2024

INVESTMENTS [Abstract]

Assets Measured at Fair Value on Recurring Basis

	April 28, 2024								October 31, 2023
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
U.S. Government Securities	$	6,585	$	-	$	-	$	6,585	$	12,915	$	-	$	-	$	12,915
Time deposits	$	-	$	59,370	$	-	$	59,370	$	-	$	-	$	-	$	-

Available-for-Sale Debt Securities and Time Deposits

The table below provides information on our available-for-sale debt securities and time deposits classified as short-term investments.

	April 28, 2024									October 31, 2023
	Amortized Cost		Unrealized Gains		Unrealized Losses			Carrying Value		Amortized Cost		Unrealized Gains		Unrealized Losses			Carrying Value
U.S. Government Securities	$	6,580	$	6	$	(1	)	$	6,585	$	12,913	$	4	$	(2	)	$	12,915
Time deposits	$	59,370	$	-	$	-		$	59,370	$	-	$	-	$	-		$	-
Total	$	65,950	$	6	$	(1	)	$	65,955	$	12,913	$	4	$	(2	)	$	12,915

- 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

PDMCX JOINT VENTURE (Policies)	6 Months Ended
PDMCX JOINT VENTURE (Policies)	Apr. 28, 2024
PDMCX JOINT VENTURE [Abstract]
Variable Interest Entities	As required by the guidance in Topic 810 - “Consolidation” of the Accounting Standards Codification (“ASC”), 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 variable interest entity (“VIE”). Due to its lack of sufficient equity at risk to finance its activities without additional subordinated financial support, we determined that it was 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 year reporting periods; thus, as required, the PDMCX financial results have been consolidated with Photronics. Our conclusion was based on the facts 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 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 reporting 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.

SHARE REPURCHASE PROGRAMS	6 Months Ended
SHARE REPURCHASE PROGRAMS	Apr. 28, 2024
SHARE REPURCHASE PROGRAMS [Abstract]
SHARE REPURCHASE PROGRAMS	NOTE 14 - 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. There have been no shares repurchased for the three and six-month periods ended April 28, 2024 and April 30, 2023. As of April 28, 2024, $31.7 million was available under this authorization for the purchase of additional shares. All shares repurchased under the program have been retired.

INSIDER TRADING ARRANGEMENTS	3 Months Ended	6 Months Ended
INSIDER TRADING ARRANGEMENTS	Apr. 28, 2024 shares	Apr. 28, 2024 shares
Insider Trading Arrangements [Line Items]
Material Terms of Trading Arrangement		On January 11, 2024, Lucien Bouchard, our Vice President of Global Sales and Global Sales Engineering, adopted a Rule 10b5-1 trading arrangement, (the “Plan”) providing for the sale of an aggregate of up to 9,000 shares of our common stock granted to Mr. Bouchard under our compensation program. The Plan is intended to satisfy the affirmative defense in Rule 10b5-1(c). The first date that sales of any shares are permitted to be sold under the Plan was February 12, 2024. All shares under the Plan have been traded.
Name	Lucien Bouchard
Title	Vice President
Rule 10b5-1 Arrangement Adopted	true
Non-Rule 10b5-1 Arrangement Adopted	false
Adoption Date	January 11, 2024
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Arrangement Duration	32 days
Aggregate Available	9,000	9,000

Condensed Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Apr. 28, 2024	Apr. 30, 2023	Apr. 28, 2024	Apr. 30, 2023
Condensed Consolidated Statements of Comprehensive Income [Abstract]
Other comprehensive (loss) income, tax	$ 0	$ 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

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	Apr. 28, 2024	Oct. 31, 2023
Current assets:
Accounts receivable, allowance	$ 1,036	$ 1,099
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)	61,799	61,310
Common stock, shares outstanding (in shares)	61,799	61,310

EARNINGS PER SHARE

6 Months Ended

Apr. 28, 2024

EARNINGS PER SHARE [Abstract]

EARNINGS PER SHARE

NOTE 11 - EARNINGS PER SHARE

The calculations of basic and diluted earnings per share are presented below.

	Three Months Ended				Six Months Ended
	April 28, 2024		April 30, 2023		April 28, 2024		April 30, 2023
Net income attributable to Photronics, Inc. shareholders	$	36,251	$	39,929	$	62,431	$	53,915
Effect of dilutive securities		-		-		-		-
Earnings used for diluted earnings per share	$	36,251	$	39,929	$	62,431	$	53,915

Weighted-average common shares computations:
Weighted-average common shares used for basic earnings per share		61,771		61,138		61,613		61,016
Effect of dilutive securities:
Share-based payment awards		638		369		733		473
Potentially dilutive common shares		638		369		733		473

Weighted-average common shares used for diluted earnings per share		62,409		61,507		62,346		61,489

Basic earnings per share	$	0.59	$	0.65	$	1.01	$	0.88
Diluted earnings per share	$	0.58	$	0.65	$	1.00	$	0.88

	Three Months Ended				Six Months Ended
	April 28, 2024		April 30, 2023		April 28, 2024		April 30, 2023
Share-based payment awards		-		267		121		535
Total potentially dilutive shares excluded		-		267		121		535

DEBT

6 Months Ended

Apr. 28, 2024

DEBT [Abstract]

DEBT

NOTE 7 - DEBT

As of April 28, 2024, the Current portion of long-term debt and the Long-term debt balances were comprised of finance leases as described below:

As of April 28, 2024	Finance Leases
Principal due:
Next 12 months	$	19,318
Months 13 – 24	$	2,436
Months 25 – 36		12
Months 37 – 48		8
Months 49 – 60		-
Long-term debt		2,456
Total debt	$	21,774

Interest rate at balance sheet date		N/A
Basis spread on interest rates		N/A
Interest rate reset		N/A
Maturity date		N/A
Periodic payment amount		Varies as Lease mature
Periodic payment frequency	Monthly
Loan collateral (carrying amount)	$	33,752	⁽¹⁾

⁽¹⁾

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

The table below provides information on our long-term debt as of October 31, 2023.

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

Interest rate at balance sheet date		N/A
Basis spread on interest rates		N/A
Interest rate reset		N/A
Maturity date		N/A
Periodic payment amount		Varies as Lease mature
Periodic payment frequency		Monthly
Loan collateral (carrying amount)	$	35,165	⁽¹⁾

⁽¹⁾

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 Credit Agreement, as defined below (expired in September 2023), 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.

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.

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). As of April 28, 2024, 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.

- 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

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Apr. 28, 2024	Oct. 31, 2023
Current assets:
Cash and cash equivalents	$ 493,905	$ 499,292
Short-term investments	65,955	12,915
Accounts receivable, net of allowance of $1,036 in 2024 and $1,099 in 2023	197,523	194,927
Inventories	54,257	49,963
Other current assets	32,493	28,353
Total current assets	844,133	785,450
Property, plant and equipment, net	729,489	709,244
Deferred income taxes	19,821	21,297
Other assets	10,010	10,230
Total assets	1,603,453	1,526,221
Current liabilities:
Current portion of long-term debt	19,318	6,621
Accounts payable	94,745	84,024
Accrued liabilities	81,504	94,578
Total current liabilities	195,567	185,223
Long-term debt	2,456	17,998
Other liabilities	37,401	47,391
Total liabilities	235,424	250,612
Commitments and contingencies (Note 12)
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, 61,799 shares issued and outstanding as of April 28, 2024, and 61,310 shares issued and outstanding as of October 31, 2023	618	613
Additional paid-in capital	506,621	502,010
Retained earnings	623,550	561,119
Accumulated other comprehensive loss	(95,932)	(88,734)
Total Photronics, Inc. shareholders' equity	1,034,857	975,008
Noncontrolling interests	333,172	300,601
Total equity	1,368,029	1,275,609
Total liabilities and equity	$ 1,603,453	$ 1,526,221

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

6 Months Ended

12 Months Ended

Apr. 28, 2024

Oct. 31, 2023

Long-term Debt [Abstract]

Long-term debt

$ 2,456

$ 17,998

Finance Leases [Member]

Long Term Debt Maturing In Year One [Abstract]

Next 12 months

19,318

6,621

Long-term Debt [Abstract]

Months 13 - 24

2,436

17,972

2,456

17,998

Total debt

$ 21,774

$ 24,619

Periodic payment amount

Varies as Lease mature

Periodic payment frequency

Monthly

Loan collateral (carrying amount)

^[1]

$ 33,752

$ 35,165

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

SHARE-BASED COMPENSATION (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended		6 Months Ended
	Mar. 16, 2023	Apr. 28, 2024	Apr. 30, 2023	Apr. 28, 2024	Apr. 30, 2023	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		$ 3,926	$ 2,009	$ 6,499	$ 3,830
Income tax benefits of share-based compensation		323	207	421	361
Share-based compensation cost capitalized		0	0	0	0
Cost of Goods Sold [Member]
Share-based Compensation [Abstract]
Expense incurred		669	288	1,263	570
Selling, General and Administrative [Member]
Share-based Compensation [Abstract]
Expense incurred		2,987	1,531	4,737	2,908
Research and Development [Member]
Share-based Compensation [Abstract]
Expense incurred		270	190	499	352
Restricted Stock [Member]
Share-based Compensation [Abstract]
Expense incurred		$ 3,926	$ 1,974	$ 6,499	$ 3,738
Restricted Stock [Abstract]
Number of shares granted in period (in shares)		0	0	825,050	786,500
Weighted-average grant-date fair value of awards (in dollars per share)		$ 0	$ 0	$ 29.77	$ 16.77
Shares outstanding at balance sheet date (in shares)		1,560,540	1,328,572	1,560,540	1,328,572
Estimated Expenses Not Yet Incurred [Abstract]
Compensation cost not yet recognized		$ 28,695	$ 16,419	$ 28,695	$ 16,419
Weighted-average amortization period for cost not yet recognized (in years)		3 years 1 month 6 days	3 years	3 years 1 month 6 days	3 years
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		$ 0	$ 0	$ 0	$ 1
Stock options activity [Abstract]
Contractual term				10 years
Number of options granted in period (in shares)		0	0	0	0
Cash received from option exercised		$ 119	$ 20	$ 1,055	$ 583
Estimated Expenses Not Yet Incurred [Abstract]
Compensation cost not yet recognized		$ 0	0	$ 0	0
Outstanding and exercisable option awards [Roll Forward]
Outstanding at end of period (in shares)		360,125		360,125
Exercisable at end of period (in shares)		360,125		360,125
Weighted-Average Exercise Price [Abstract]
Outstanding at end of period (in dollars per share)		$ 10.33		$ 10.33
Exercisable at end of period (in dollars per share)		$ 10.33		$ 10.33
Weighted-Average Remaining Contractual Life (in years) [Abstract]
Outstanding at end of period				2 years 4 months 2 days
Exercisable at end of period				2 years 4 months 2 days
Aggregate Intrinsic Value [Abstract]
Outstanding at end of period		$ 6,466		$ 6,466
Exercisable at end of period		6,466		$ 6,466
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]
Expense incurred		$ 0	$ 35	$ 0	$ 91

INVENTORIES (Details) - USD ($) $ in Thousands	Apr. 28, 2024	Oct. 31, 2023
INVENTORIES [Abstract]
Raw materials	$ 53,337	$ 48,948
Work in process	912	1,010
Finished goods	8	5
Inventories	$ 54,257	$ 49,963

INVENTORIES

6 Months Ended

Apr. 28, 2024

INVENTORIES [Abstract]

INVENTORIES

NOTE 4 - INVENTORIES

Inventories are stated at the lower of cost, determined under the first-in, first-out (“FIFO”) method, or net realizable value. Presented below are the components of Inventories at the balance sheet dates.

	April 28, 2024		October 31, 2023
Raw materials	$	53,337	$	48,948
Work in process		912		1,010
Finished goods		8		5
	$	54,257	$	49,963

BASIS OF FINANCIAL STATEMENT PRESENTATION	6 Months Ended
BASIS OF FINANCIAL STATEMENT PRESENTATION	Apr. 28, 2024
BASIS OF FINANCIAL STATEMENT PRESENTATION [Abstract]
BASIS OF FINANCIAL STATEMENT PRESENTATION	NOTE 1 - BASIS OF FINANCIAL STATEMENT PRESENTATION 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 ICs, a variety of FPDs and, to a lesser extent, other types of electrical and optical components. We operate eleven manufacturing facilities, which are located in Taiwan (3), Korea (1), China (2), the United States (3), and Europe (2). The accompanying unaudited condensed consolidated financial statements (“the financial statements”) have been prepared in accordance with U.S. GAAP for interim financial information, and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for annual financial statements. In the opinion of management, adjustments, all of which are of a normal recurring nature, considered necessary for a fair presentation have been included. The financial statements include the accounts of Photronics, its wholly owned subsidiaries, and the majority-owned subsidiaries, which it controls. All significant intercompany balances and transactions have been eliminated in consolidation. These financial statements should be read in conjunction with the consolidated financial statements and accompanying notes included in our Form 10-K for the fiscal year ended October 31, 2023, where we discuss and provide additional information about our accounting policies and the methods and assumptions used in our estimates. 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 we believe to be reasonable under the facts and circumstances 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. Our business is typically impacted during the first quarter of our fiscal year by the North American, European, and Asian holiday periods, as some customers reduce their development and buying activities during this period. Operating results for the interim periods are not necessarily indicative of the results that may be expected for the fiscal year ending October 31, 2024.

CHANGES IN ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME BY COMPONENT

6 Months Ended

Apr. 28, 2024

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

CHANGES IN ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME BY COMPONENT

NOTE 13 - CHANGES IN ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME BY COMPONENT

	Three Months Ended April 28, 2024
	Foreign Currency Translation Adjustments			Other			Total

Balance at January 28, 2024	$	(67,160	)	$	(703	)	$	(67,863	)
Other comprehensive (loss) income		(39,198	)		82			(39,116	)
Other comprehensive (loss) income attributable to noncontrolling interests		11,087			(40	)		11,047

Balance at April 28, 2024	$	(95,271	)	$	(661	)	$	(95,932	)

	Three Months Ended April 30, 2023
	Foreign Currency Translation Adjustments			Other			Total

Balance at January 29, 2023	$	(23,737	)	$	(683	)	$	(24,420	)
Other comprehensive (loss) income		(39,813	)		66			(39,747	)
Other comprehensive (loss) income attributable to noncontrolling interests		4,760			(98	)		4,662

Balance at April 30, 2023	$	(58,790	)	$	(715	)	$	(59,505	)

	Six Months Ended April 28, 2024
	Foreign Currency Translation Adjustments			Other			Total

Balance at October 31, 2023	$	(88,044	)	$	(690	)	$	(88,734	)
Other comprehensive (loss) income		(7,705	)		55			(7,650	)
Other comprehensive (loss) income attributable to noncontrolling interests		478			(26	)		452

Balance at April 28, 2024	$	(95,271	)	$	(661	)	$	(95,932	)

	Six Months Ended April 30, 2023
	Foreign Currency Translation Adjustments			Other			Total

Balance at October 31, 2022	$	(97,790	)	$	(666	)	$	(98,456	)
Other comprehensive (loss) income		50,707			11			50,718
Other comprehensive (loss) income attributable to noncontrolling interests		(11,707	)		(60	)		(11,767	)

Balance at April 30, 2023	$	(58,790	)	$	(715	)	$	(59,505	)

ACCOUNT RECEIVABLES (Details) - USD ($) $ in Thousands	Apr. 28, 2024	Oct. 31, 2023
ACCOUNT RECEIVABLES [Abstract]
Accounts Receivable	$ 175,034	$ 171,433
Unbilled Receivable	23,525	24,593
Allowance for Credit Losses	(1,036)	(1,099)
Total	$ 197,523	$ 194,927

PROPERTY, PLANT, AND EQUIPMENT, NET (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Apr. 28, 2024	Apr. 30, 2023	Apr. 28, 2024	Apr. 30, 2023	Oct. 31, 2023
Property, plant and equipment [Abstract]
Property, plant and equipment, gross	$ 2,258,662		$ 2,258,662		$ 2,209,453
Accumulated depreciation and amortization	(1,529,173)		(1,529,173)		(1,500,209)
Property, plant and equipment, net	729,489		729,489		709,244
Finance lease, Right-of-use asset [Abstract]
Finance lease, right-of-use asset, gross	42,816		42,816		42,820
Accumulated amortization	(9,064)		(9,064)		(7,655)
Finance lease, right-of-use asset, net	33,752		33,752		35,165
Depreciation Expense [Abstract]
Depreciation Expense	20,689	$ 19,880	41,294	$ 38,908
Land [Member]
Property, plant and equipment [Abstract]
Property, plant and equipment, gross	11,354		11,354		11,378
Buildings and Improvements [Member]
Property, plant and equipment [Abstract]
Property, plant and equipment, gross	185,921		185,921		185,850
Machinery and Equipment [Member]
Property, plant and equipment [Abstract]
Property, plant and equipment, gross	1,942,506		1,942,506		1,922,041
Leasehold Improvements [Member]
Property, plant and equipment [Abstract]
Property, plant and equipment, gross	18,820		18,820		18,894
Furniture, Fixtures and Office Equipment [Member]
Property, plant and equipment [Abstract]
Property, plant and equipment, gross	16,918		16,918		15,856
Construction in Progress [Member]
Property, plant and equipment [Abstract]
Property, plant and equipment, gross	$ 83,143		$ 83,143		$ 55,434

Condensed Consolidated Statements of Equity - USD ($) shares in Thousands, $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Loss [Member]	Non-controlling Interests [Member]	Total
Balance at Oct. 31, 2022	$ 608	$ 493,741	$ 435,634	$ (98,456)	$ 230,562	$ 1,062,089
Balance (in shares) at Oct. 31, 2022	60,791
Net income	$ 0	0	53,915	0	34,308	88,223
Other comprehensive income	0	0	0	38,951	11,767	50,718
Shares issued under equity plans	$ 4	(180)	0	0	0	(176)
Shares issued under equity plans (in shares)	394
Share-based compensation expense	$ 0	3,830	0	0	0	3,830
Balance at Apr. 30, 2023	$ 612	497,391	489,549	(59,505)	276,637	1,204,684
Balance (in shares) at Apr. 30, 2023	61,185
Balance at Jan. 29, 2023	$ 611	494,954	449,620	(24,420)	261,955	1,182,720
Balance (in shares) at Jan. 29, 2023	61,102
Net income	$ 0	0	39,929	0	19,344	59,273
Other comprehensive income	0	0	0	(35,085)	(4,662)	(39,747)
Shares issued under equity plans	$ 1	428	0	0	0	429
Shares issued under equity plans (in shares)	83
Share-based compensation expense	$ 0	2,009	0	0	0	2,009
Balance at Apr. 30, 2023	$ 612	497,391	489,549	(59,505)	276,637	1,204,684
Balance (in shares) at Apr. 30, 2023	61,185
Balance at Oct. 31, 2023	$ 613	502,010	561,119	(88,734)	300,601	1,275,609
Balance (in shares) at Oct. 31, 2023	61,310
Net income	$ 0	0	62,431	0	33,023	95,454
Other comprehensive income	0	0	0	(7,198)	(452)	(7,650)
Shares issued under equity plans	$ 5	(1,888)	0	0	0	(1,883)
Shares issued under equity plans (in shares)	489
Share-based compensation expense	$ 0	6,499	0	0	0	6,499
Balance at Apr. 28, 2024	$ 618	506,621	623,550	(95,932)	333,172	1,368,029
Balance (in shares) at Apr. 28, 2024	61,799
Balance at Jan. 28, 2024	$ 617	502,903	587,299	(67,863)	324,098	1,347,054
Balance (in shares) at Jan. 28, 2024	61,746
Net income	$ 0	0	36,251	0	20,121	56,372
Other comprehensive income	0	0	0	(28,069)	(11,047)	(39,116)
Shares issued under equity plans	$ 1	(208)	0	0	0	(207)
Shares issued under equity plans (in shares)	53
Share-based compensation expense	$ 0	3,926	0	0	0	3,926
Balance at Apr. 28, 2024	$ 618	$ 506,621	$ 623,550	$ (95,932)	$ 333,172	$ 1,368,029
Balance (in shares) at Apr. 28, 2024	61,799

- Definition

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

+ References

+ Details

- Definition

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

+ References

+ Details

- Definition

Amount of equity (deficit) attributable to parent and noncontrolling interest. Excludes temporary equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483421/250-10-45-24

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 23
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483421/250-10-45-23

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 5
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483421/250-10-45-5

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 5
-Subparagraph (c)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479654/326-10-65-5

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480528/815-20-65-6

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

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (h)(1)(i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480528/815-20-65-6

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

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (h)(1)(iv)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480528/815-20-65-6

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (i)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480528/815-20-65-6

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 848
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (a)(3)(iii)(03)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483550/848-10-65-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 105
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479343/105-10-65-6

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 105
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479343/105-10-65-6

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (f)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480016/944-40-65-2

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (f)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480016/944-40-65-2

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 8
-Subparagraph (d)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482615/740-10-65-8

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 8
-Subparagraph (d)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482615/740-10-65-8

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 4
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479654/326-10-65-4

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 15
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480336/718-10-65-15

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 15
-Subparagraph (f)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480336/718-10-65-15

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 15
-Subparagraph (f)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480336/718-10-65-15

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-1

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (e)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-7

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-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 26: 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 27: 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 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 20
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481694/830-30-45-20

Reference 29: 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 30: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 205
-Name Accounting Standards Codification
-Section 45
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480767/946-205-45-3

Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 505
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481004/946-505-50-3

Reference 32: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-04(19))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479617/946-210-S99-1

Reference 33: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.6-05(4))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479617/946-210-S99-2

Reference 34: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(4)(b))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-3

Reference 35: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(6))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-3

Reference 36: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(7))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-3

Reference 37: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480008/505-10-S99-1

Reference 38: http://www.xbrl.org/2009/role/commonPracticeRef
-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 39: http://www.xbrl.org/2009/role/commonPracticeRef
-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 40: http://www.xbrl.org/2009/role/commonPracticeRef
-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 41: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481231/810-10-45-15

Reference 42: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 16
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481231/810-10-45-16

Reference 43: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 55
-Paragraph 4I
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481175/810-10-55-4I

+ Details

RECENT ACCOUNTING PRONOUNCEMENTS (Policies)	6 Months Ended
RECENT ACCOUNTING PRONOUNCEMENTS (Policies)	Apr. 28, 2024
RECENT ACCOUNTING PRONOUNCEMENTS [Abstract]
Recent Accounting Pronouncements	Accounting Standards Updates to be Adopted In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures”, to enhance the transparency and decision usefulness of income tax disclosures. The amendments in this Update related to the rate reconciliation and income taxes paid disclosures to improve the transparency of income tax disclosures by requiring (1) consistent categories and greater disaggregation of information in the rate reconciliation and (2) income taxes paid disaggregated by jurisdiction. The amendments allow investors to better assess, in their capital allocation decisions, how an entity’s worldwide operations and related tax risks and tax planning and operational opportunities affect its income tax rate and prospects for future cash flows. The guidance in this Update will be effective for Photronics in its fiscal year 2026 Form 10-K, with early application of the amendments allowed. We are currently evaluating the effect the adoption of this ASU may have on our disclosures. 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 Photronics in its fiscal year 2025 Form 10-K, with early adoption permitted. We are currently evaluating the effect the adoption of this ASU may have on our disclosures.

SHARE REPURCHASE PROGRAMS (Details) - USD ($) shares in Thousands, $ in Millions	3 Months Ended		6 Months Ended
	Apr. 28, 2024	Apr. 30, 2023	Apr. 28, 2024	Apr. 30, 2023	Sep. 30, 2020
September 2020 Announced Program [Member]
Share Repurchase Program [Abstract]
Stock repurchased authorized amount					$ 100.0
Stock repurchase program - commencement date			Sep. 16, 2020
Amount remaining under authorization for purchase of additional shares	$ 31.7		$ 31.7
Share Repurchase Programs [Member]
Share Repurchase Program [Abstract]
Number of shares repurchased (in shares)	0	0	0	0

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Apr. 28, 2024	Apr. 30, 2023	Apr. 28, 2024	Apr. 30, 2023
Calculation of Basic and Diluted Earnings Per Share [Abstract]
Net income attributable to Photronics, Inc. shareholders	$ 36,251	$ 39,929	$ 62,431	$ 53,915
Effect of dilutive securities	0	0	0	0
Earnings used for diluted earnings per share	$ 36,251	$ 39,929	$ 62,431	$ 53,915
Weighted-average Common Shares Computations [Abstract]
Weighted-average common shares used for basic earnings per share (in shares)	61,771	61,138	61,613	61,016
Effect of Dilutive Securities [Abstract]
Share-based payment awards (in shares)	638	369	733	473
Potentially dilutive common shares (in shares)	638	369	733	473
Weighted-average common shares used for diluted earnings per share (in shares)	62,409	61,507	62,346	61,489
Basic earnings per share (in dollars per share)	$ 0.59	$ 0.65	$ 1.01	$ 0.88
Diluted earnings per share (in dollars per share)	$ 0.58	$ 0.65	$ 1	$ 0.88
Antidilutive Securities [Abstract]
Total potentially dilutive shares excluded (in shares)	0	267	121	535
Share-based Payment Awards [Member]
Antidilutive Securities [Abstract]
Total potentially dilutive shares excluded (in shares)	0	267	121	535

COMMITMENTS AND CONTINGENCIES	6 Months Ended
COMMITMENTS AND CONTINGENCIES	Apr. 28, 2024
COMMITMENTS AND CONTINGENCIES [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 12 - COMMITMENTS AND CONTINGENCIES As of April 28, 2024, we had commitments outstanding for capital expenditures of approximately $133.3 million, primarily for purchases of high-end equipment. In May 2022, we were informed of a customs audit in one of our China operations. We estimated a contingency ranging from $2.2 million to $3.7 million, which included unpaid additional customs duties and related interest and penalties for the previous three years (the period under audit). In the three-month period ended May 1, 2022, we recorded a contingent loss of $2.2 million, as we believed this was the most likely outcome. The $2.2 million amount was recorded with a charge to Cost of goods sold in the condensed consolidated statements of income and Accrued liabilities in the condensed consolidated balance sheets. In November 2022, upon settlement of the audit, we reversed $1.0 million of the accrual. We are subject to various other claims that arise in the ordinary course of business. We believe that our potential liability under such claims, individually or in the aggregate, will not have a material effect on our consolidated financial statements.

INCOME TAXES (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
INCOME TAXES (Details) - USD ($) $ in Thousands	Apr. 28, 2024	Apr. 30, 2023	Apr. 28, 2024	Apr. 30, 2023	Oct. 31, 2023
Effective Income and Statutory Tax Rates [Abstract]
U.S. statutory tax rates	21.00%	21.00%	21.00%	21.00%
Effective tax rates	26.40%	26.50%	26.80%	27.80%
Income Tax Examination [Abstract]
Earliest open tax year			2018
Unrecognized Tax Benefits [Abstract]
Unrecognized tax benefits related to uncertain tax positions	$ 10,828		$ 10,828		$ 8,908
Unrecognized tax benefits that, if recognized, would impact the effective tax rate	10,828		10,828		8,908
Accrued interest and penalties related to uncertain tax positions	$ 804		$ 804		$ 576

REVENUE (Tables)

6 Months Ended

Apr. 28, 2024

REVENUE [Abstract]

Contract Balances

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

Classification	April 28, 2024		October 31, 2023
Contract Assets
Other current assets	$	12,292	$	10,984

Contract Liabilities
Accrued liabilities	$	14,558	$	9,965
Other liabilities		8,224		12,454
	$	22,782	$	22,419

	Three Months Ended				Six Months Ended
	April 28, 2024		April 30, 2023		April 28, 2024		April 30, 2023
Revenue recognized from beginning liability	$	6,495	$	11,228	$	7,746	$	7,875

Disaggregation of Revenue

The following tables present our revenue for the three and six-month periods ended April 28, 2024, and April 30, 2023, disaggregated by product type, geographic origin, and timing of recognition.

	Three Months Ended				Six Months Ended
Revenue by Product Type	April 28, 2024		April 30, 2023		April 28, 2024		April 30, 2023
IC
High-end	$	58,042	$	43,920	$	118,918	$	91,923
Mainstream		102,886		123,134		199,599		231,720
Total IC	$	160,928	$	167,054	$	318,517	$	323,643


FPD
High-end	$	47,977	$	51,888	$	98,593	$	97,579
Mainstream		8,095		10,364		16,224		19,175
Total FPD	$	56,072	$	62,252	$	114,817	$	116,754

	$	217,000	$	229,306	$	433,334	$	440,397

	Three Months Ended				Six Months Ended
Revenue by Geographic Origin^*	April 28, 2024		April 30, 2023		April 28, 2024		April 30, 2023
Taiwan	$	75,410	$	80,448	$	150,376	$	156,017
China		58,693		65,215		116,829		124,148
Korea		39,286		41,372		79,621		79,204
United States		33,314		32,495		66,047		62,377
Europe		9,926		9,276		19,631		17,722
Other		371		500		830		929
	$	217,000	$	229,306	$	433,334	$	440,397

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

	Three Months Ended				Six Months Ended
Revenue by Timing of Recognition	April 28, 2024		April 30, 2023		April 28, 2024		April 30, 2023
Over time	$	211,189	$	215,376	$	414,716	$	412,541
At a point in time		5,811		13,930		18,618		27,856
		217,000		229,306		433,334		440,397

PDMCX JOINT VENTURE (Tables)

6 Months Ended

Apr. 28, 2024

PDMCX JOINT VENTURE [Abstract]

Net Income (Loss) Recorded from Operations

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

	Three Months Ended				Six Months Ended
	April 28, 2024		April 30, 2023		April 28, 2024		April 30, 2023
Net income from PDMCX	$	5,464	$	6,652	$	11,928	$	12,569

Carrying Amounts and Exposure to Loss Related to Assets and Liabilities

	April 28, 2024				October 31, 2023
Classification	Carrying Amount		Photronics Interest		Carrying Amount		Photronics Interest
Current assets	$	150,329	$	75,180	$	135,960	$	67,994
Noncurrent assets		144,435		72,232		136,334		68,181
Total assets		294,764		147,412		272,294		136,175

Current liabilities		32,810		16,408		36,305		18,156
Noncurrent liabilities		1,901		951		1,873		937
Total liabilities		34,711		17,359		38,178		19,093

Net assets	$	260,053	$	130,053	$	234,116	$	117,082

- 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

DEBT, Corporate Credit Agreement (Details) - Corporate Credit Agreement [Member] - USD ($) $ in Millions	3 Months Ended
	Apr. 28, 2024	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

INVENTORIES (Tables)

6 Months Ended

Apr. 28, 2024

INVENTORIES [Abstract]

Inventories

	April 28, 2024		October 31, 2023
Raw materials	$	53,337	$	48,948
Work in process		912		1,010
Finished goods		8		5
	$	54,257	$	49,963

INVESTMENTS (Details) - USD ($) $ in Thousands	Apr. 28, 2024	Oct. 31, 2023
Assets, Fair Value Disclosure [Abstract]
Maturity of time deposits	12 months
Available-for-sale [Abstract]
Amortized Cost	$ 65,950	$ 12,913
Unrealized Gains	6	4
Unrealized Losses	(1)	(2)
Carrying Value	65,955	12,915
Time Deposits [Member]
Available-for-sale [Abstract]
Amortized Cost	59,370	0
Unrealized Gains	0	0
Unrealized Losses	0	0
Carrying Value	59,370	0
U.S. Government Securities [Member]
Available-for-sale [Abstract]
Amortized Cost	6,580	12,913
Unrealized Gains	6	4
Unrealized Losses	(1)	(2)
Carrying Value	6,585	12,915
Fair Value, Recurring [Member] \| Time Deposits [Member]
Assets, Fair Value Disclosure [Abstract]
Assets, fair value disclosure	59,370	0
Fair Value, Recurring [Member] \| U.S. Government Securities [Member]
Assets, Fair Value Disclosure [Abstract]
Assets, fair value disclosure	6,585	12,915
Fair Value, Recurring [Member] \| Level 1 [Member] \| Time Deposits [Member]
Assets, Fair Value Disclosure [Abstract]
Assets, fair value disclosure	0	0
Fair Value, Recurring [Member] \| Level 1 [Member] \| U.S. Government Securities [Member]
Assets, Fair Value Disclosure [Abstract]
Assets, fair value disclosure	6,585	12,915
Fair Value, Recurring [Member] \| Level 2 [Member] \| Time Deposits [Member]
Assets, Fair Value Disclosure [Abstract]
Assets, fair value disclosure	59,370	0
Fair Value, Recurring [Member] \| Level 2 [Member] \| U.S. Government Securities [Member]
Assets, Fair Value Disclosure [Abstract]
Assets, fair value disclosure	0	0
Fair Value, Recurring [Member] \| Level 3 [Member] \| Time Deposits [Member]
Assets, Fair Value Disclosure [Abstract]
Assets, fair value disclosure	0	0
Fair Value, Recurring [Member] \| Level 3 [Member] \| U.S. Government Securities [Member]
Assets, Fair Value Disclosure [Abstract]
Assets, fair value disclosure	$ 0	$ 0