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DEBT | 6 Months Ended
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Apr. 30, 2024
Debt Disclosure [Abstract] |
Long-term Debt [Text Block] | SHORT-TERM AND LONG-TERM DEBT A subsidiary of the Company acquired in the first quarter of fiscal 2023 ended its short-term borrowing arrangement in the first quarter of fiscal 2024 during which it made net payments of $13.9 million. Long-term debt consists of the following (in thousands):
|  | April 30, 2024 |  | October 31, 2023
Borrowings under revolving credit facility |  | $1,175,000 |  |  | $1,250,000 |
2028 senior unsecured notes |  | 600,000 |  |  | 600,000 |
2033 senior unsecured notes |  | 600,000 |  |  | 600,000 |
Finance leases and notes payable |  | 27,280 |  |  | 28,024 |
Less: Debt discount and debt issuance costs |  | (12,631) |  |  | (13,478) |
|  | 2,389,649 |  |  | 2,464,546 |
Less: Current maturities of long-term debt |  | (4,382) |  |  | (4,269) |
|  | $2,385,267 |  |  | $2,460,277 |
Revolving Credit Facility The Company's borrowings under its revolving credit facility mature in fiscal 2028. As of April 30, 2024 and October 31 2023, the weighted average interest rate on borrowings under the Company's revolving credit facility ("Credit Facility") was 6.9% and 6.7%, respectively. The Credit Facility contains both financial and non-financial covenants. As of April 30, 2024, the Company was in compliance with all such covenants. Senior Unsecured Notes The Company's senior unsecured notes consist of $600 million principal amount of 5.25% Senior Notes due August 1, 2028 (the "2028 Notes") and $600 million principal amount of 5.35% Senior Notes due August 1, 2033 (the "2033 Notes" and, collectively with the 2028 Notes, the "Notes"). Interest on the Notes is payable semi-annually in arrears on February 1 and August 1 of each year, and commenced on February 1, 2024. The 2028 Notes and 2033 Notes each have an effective interest rate of 5.5%. The Notes are fully and unconditionally guaranteed on a senior unsecured basis by all of the Company's existing and future subsidiaries that guarantee the Company's obligations under the Credit Facility (the "Guarantor Group"). As of April 30, 2024, the Company was in compliance with all covenants related to the Notes. The following table sets forth the carrying value and estimated fair value of the Company’s Notes, which are classified as Level 1 financial instruments in the fair value hierarchy (in thousands). The Company estimated the fair value of the Notes by taking the weighted average of market quotes for the exact security that was actively traded on April 30, 2024 and October 31, 2023.
| April 30, 2024 |  | October 31, 2023
| Carrying Value |  | Fair Value |  | Carrying Value |  | Fair Value
2028 Notes | $594,705 |  |  | $594,792 |  |  | $594,158 |  |  | $579,762 |
2033 Notes | 592,664 |  |  | 590,118 |  |  | 592,364 |  |  | 552,594 |
Total | $1,187,369 |  |  | $1,184,910 |  |  | $1,186,522 |  |  | $1,132,356 |

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- Definition The entire disclosure for long-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 470 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/470/tableOfContent + Details
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