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Financial Derivatives and Hedging (Tables) | 3 Months Ended
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Jan. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of outstanding derivatives designated as hedging instruments | As of January 31, 2021 and October 31, 2020, the Company had the following outstanding derivatives designated as hedging instruments:
(In millions, except for number of instruments) | Number of Instruments |  | Notional Value
Interest Rate Swap Contracts | 5 |  | $ | 1,400 |
Schedule of fair values of derivative instruments in condensed consolidated balance sheets | The following table summarizes the fair values of derivative instruments as of the periods indicated and the line items in the accompanying Consolidated Condensed Balance Sheets where the instruments are recorded:
|  |  |  | Derivative Liabilities
(In millions) |  |  |  |  |  |  |  |  |  | January 31, 2021 |  | October 31, 2020
Derivatives designated as cash flow hedges |  |  |  |  |  |  |  | Balance sheet location |  |  |  |
Interest rate swap contracts |  |  |  |  |  |  |  | Other current liabilities |  | $ | 0.4 |  |  | $ | 0.6 |
Interest rate swap contracts |  |  |  |  |  |  |  | Other non-current liabilities |  | 10.8 |  |  | 16.5 |
|  |  |  |  |  |  |  |  |  | $ | 11.2 |  |  | $ | 17.1 |
Schedule of derivative instruments recognized in condensed consolidated statements of income | The following table summarizes the amounts recognized with respect to our derivative instruments within the accompanying Consolidated Statements of Income and Comprehensive Income:
Three Months Ended January 31, |  |  |  |  |
(In millions) |  |  | 2021 |  | 2020 |  |  |  |
Derivatives designated as cash flow hedges |  | Location of Loss Recognized on Derivatives |  |  |  |  |  |  |
Interest rate swap contracts |  | Interest expense | $ | 2.1 |  |  | $ | — |  |  |  |  |
Schedule of changes in accumulated other comprehensive income | Analysis of Changes in Accumulated Other Comprehensive (Loss) Income:
(In millions) | Foreign Currency Translation Adjustment |  | Minimum Pension Liability |  | Derivative Instruments |  | Total
Balance at October 31, 2019 | $ | (403.2) |  |  | $ | (43.9) |  |  | $ | — |  |  | $ | (447.1) |
Gross change in value | 0.9 |  |  | (16.8) |  |  | (17.1) |  |  | (33.0) |
Tax effect for the period | — |  |  | 4.0 |  |  | 4.1 |  |  | 8.1 |
Balance at October 31, 2020 | $ | (402.3) |  |  | $ | (56.7) |  |  | $ | (13.0) |  |  | $ | (472.0) |
Gross change in value | 86.4 |  |  | — |  |  | 5.9 |  |  | 92.3 |
Tax effect for the period | (0.2) |  |  | — |  |  | (1.4) |  |  | (1.6) |
Balance at January 31, 2021 | $ | (316.1) |  |  | $ | (56.7) |  |  | $ | (8.5) |  |  | $ | (381.3) |
The following table details the changes in accumulated other comprehensive income:
(In millions) |  | Amount
Beginning balance gain / (loss) as of October 31, 2020 |  | $ | (17.1) |
Amount recognized in other comprehensive income on interest rate swap contracts, gross (net of tax o f $0.9 million) |  | 3.8 |
Amount reclassified from other comprehensive income into earnings, gross (net of tax of $0.5 million) |  | 2.1 |
Ending balance gain / (loss) as of January 31, 2021 |  | $ | (11.2) |

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