INCOME TAXES (Tables)

6 Months Ended

May 04, 2025

INCOME TAXES [Abstract]

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

The table below sets forth the primary reasons that the Company’s effective income tax rates differed from the U.S. statutory tax rates in effect during the periods ended May 4, 2025 and April 28, 2024.

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

Three months ended May 4, 2025			21.0%			19.1%		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 changes in uncertain tax positions in non-U.S. jurisdictions.

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.

Six months ended May 4, 2025			21.0%			23.0%		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 changes in 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.

Unrecognized Tax Benefits

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

		May 4, 2025				October 31, 2024
Unrecognized tax benefits related to uncertain tax positions		$	14,006			$	14,720
Unrecognized tax benefits that, if recognized, would impact the effective tax rate		$	14,006			$	14,720
Accrued interest and penalties related to uncertain tax positions		$	1,327			$	1,028