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Income Taxes (Tables) | 12 Months Ended
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Oct. 31, 2021
Income Tax Disclosure [Abstract] |
Income before income taxes | Components of income before income taxes:
Years Ended October 31, (In millions) | 2021 |  | 2020 |  | 2019
Income before income taxes: |  |  |  |  |
United States | $ | (31.0) |  |  | $ | (88.0) |  |  | $ | (32.8) |
Foreign | 522.5 |  |  | 354.5 |  |  | 510.2 |
| $ | 491.5 |  |  | $ | 266.5 |  |  | $ | 477.4 |
Provision for income taxes | Components of provision for income taxes:
Years Ended October 31, (In millions) | 2021 |  | 2020 |  | 2019
Current: |  |  |  |  |
Federal | $ | 21.0 |  |  | $ | 1.4 |  |  | $ | 9.2 |
State | 1.3 |  |  | 1.1 |  |  | 1.6 |
Foreign | 26.7 |  |  | 26.5 |  |  | 15.8 |
| 49.0 |  |  | 29.0 |  |  | 26.6 |
Deferred: |  |  |  |  |
Federal | (8.8) |  |  | 3.2 |  |  | (8.1) |
State | (0.5) |  |  | 0.8 |  |  | (0.9) |
Foreign | (2,492.9) |  |  | (4.9) |  |  | (6.9) |
| (2,502.2) |  |  | (0.9) |  |  | (15.9) |
Provision for income taxes | $ | (2,453.2) |  |  | $ | 28.1 |  |  | $ | 10.7 |
Reconciliation between the expected provision for income taxes at the US federal statutory rate and the provision for income taxes | Reconciliation between the expected provision for income taxes at the US federal statutory rate and the provision for income taxes:
Years Ended October 31, (In millions) | 2021 |  | 2020 |  | 2019
Provision for income taxes at United States statutory tax rate | $ | 103.2 |  |  | $ | 56.0 |  |  | $ | 100.3 |
(Decrease) increase in taxes resulting from: |  |  |  |  |
Foreign income subject to different tax rates | (43.6) |  |  | (54.7) |  |  | (85.6) |
Foreign income subject to United States tax | 25.4 |  |  | 32.0 |  |  | 16.1 |
United States tax reform | — |  |  | — |  |  | (5.8) |
Employee compensation | (9.9) |  |  | (4.4) |  |  | (7.8) |
Deferred tax asset step-up | 3.2 |  |  | (9.0) |  |  | (6.7) |
United States provision-to-return | (1.2) |  |  | 7.0 |  |  | 4.4 |
Intra-group transfer to UK subsidiary | (1,987.9) |  |  | — |  |  | — |
Remeasurement of deferred tax assets from UK rate change | (536.7) |  |  | — |  |  | — |
Change in unrecognized tax benefits | (7.6) |  |  | (0.1) |  |  | (1.5) |
Other, net | 1.9 |  |  | 1.3 |  |  | (2.7) |
Actual provision for income taxes | $ | (2,453.2) |  |  | $ | 28.1 |  |  | $ | 10.7 |
Deferred tax assets and liabilities | Components of deferred tax assets and liabilities:
Years Ended October 31, (In millions) | 2021 |  | 2020
Deferred tax assets: |  |  |
Accounts receivable, principally due to allowances for doubtful accounts | $ | 3.4 |  |  | $ | 2.6 |
Inventories | 6.1 |  |  | 5.8 |
Accrued liabilities, reserves and compensation accruals | 78.1 |  |  | 77.1 |
Foreign deferred tax assets | 2,531.5 |  |  | 90.9 |
Share-based compensation | 28.6 |  |  | 21.4 |
Net operating loss carryforwards | 18.5 |  |  | 9.6 |
Intangible assets | 7.5 |  |  | 19.6 |
Research and experimental expenses - Section 59(e) | 13.5 |  |  | 9.2 |
Tax credit carryforwards | 0.8 |  |  | 1.5 |
Total gross deferred tax assets | 2,688.0 |  |  | 237.7 |
Less: valuation allowance | (51.8) |  |  | (45.3) |
Deferred tax assets | 2,636.2 |  |  | 192.4 |
Deferred tax liabilities: |  |  |
Tax deductible goodwill | (34.0) |  |  | (29.7) |
Plant and equipment | (46.5) |  |  | (39.2) |
Deferred tax on foreign earnings | (8.4) |  |  | (7.5) |
Transaction costs | (0.7) |  |  | (0.7) |
Foreign deferred tax liabilities | (24.1) |  |  | (61.0) |
Total gross deferred tax liabilities | (113.7) |  |  | (138.1) |
Net deferred tax assets | $ | 2,522.5 |  |  | $ | 54.3 |
Changes in unrecognized tax benefits | Changes in unrecognized tax benefits:
(In millions) |
Balance at October 31, 2019 | $ | 49.7 |
Increase from prior year's UTB's | 3.4 |
Increase from current year's UTB's | 7.6 |
UTB (decrease) from expiration of statute of limitations | (2.2) |
Balance at October 31, 2020 | $ | 58.5 |
Decrease from prior year's UTB's | (8.3) |
Increase from current year's UTB's | 307.2 |
Increase (decrease) from settlements | (1.9) |
UTB (decrease) from expiration of statute of limitations | (1.7) |
Balance at October 31, 2021 | $ | 353.8 |

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