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Income Taxes (Tables) | 12 Months Ended
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Oct. 31, 2022
Income Tax Disclosure [Abstract] |
Income before income taxes | Components of income before income taxes:
Years Ended October 31, (In millions) | 2022 |  | 2021 |  | 2020
Income before income taxes: |  |  |  |  |
United States | $ | 31.4 |  |  | $ | (31.0) |  |  | $ | (88.0) |
Foreign | 443.9 |  |  | 522.5 |  |  | 354.5 |
| $ | 475.3 |  |  | $ | 491.5 |  |  | $ | 266.5 |
Provision for income taxes | Components of provision for income taxes:
Years Ended October 31, (In millions) | 2022 |  | 2021 |  | 2020
Current: |  |  |  |  |
Federal | $ | 10.2 |  |  | $ | 21.0 |  |  | $ | 1.4 |
State | 3.8 |  |  | 1.3 |  |  | 1.1 |
Foreign | 21.7 |  |  | 26.7 |  |  | 26.5 |
| 35.7 |  |  | 49.0 |  |  | 29.0 |
Deferred: |  |  |  |  |
Federal | 10.5 |  |  | (8.8) |  |  | 3.2 |
State | (2.2) |  |  | (0.5) |  |  | 0.8 |
Foreign | 45.6 |  |  | (2,492.9) |  |  | (4.9) |
| 53.9 |  |  | (2,502.2) |  |  | (0.9) |
Provision for income taxes | $ | 89.5 |  |  | $ | (2,453.2) |  |  | $ | 28.1 |
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) | 2022 |  | 2021 |  | 2020
Provision for income taxes at United States statutory tax rate | $ | 99.8 |  |  | $ | 103.2 |  |  | $ | 56.0 |
(Decrease) increase in taxes resulting from: |  |  |  |  |
Foreign earnings in jurisdictions with lower tax rates | (22.3) |  |  | (43.6) |  |  | (54.7) |
Foreign earnings subject to United States tax | 20.7 |  |  | 25.4 |  |  | 32.0 |
Excess tax benefits from share-based compensation | (2.6) |  |  | (13.0) |  |  | (6.2) |
Deferred tax asset step-up | (3.4) |  |  | 3.2 |  |  | (9.0) |
United States provision-to-return | 0.5 |  |  | (1.2) |  |  | 7.0 |
Intra-group transfer to UK subsidiary | — |  |  | (1,987.8) |  |  | — |
Remeasurement of deferred tax assets from UK rate change | — |  |  | (536.7) |  |  | — |
Change in unrecognized tax benefits | (12.7) |  |  | (7.6) |  |  | (0.1) |
State tax provision | 5.0 |  |  | 0.8 |  |  | 1.9 |
Other, net | 4.5 |  |  | 4.1 |  |  | 1.2 |
Provision for income taxes | $ | 89.5 |  |  | $ | (2,453.2) |  |  | $ | 28.1 |
Deferred tax assets and liabilities | Components of deferred tax assets and liabilities:
Years Ended October 31, (In millions) | 2022 |  | 2021
Deferred tax assets: |  |  |
Accounts receivable | $ | 4.9 |  |  | $ | 3.4 |
Inventories | 6.3 |  |  | 6.1 |
Accrued liabilities, reserves and compensation accruals | 79.9 |  |  | 78.1 |
Foreign deferred tax assets | 2,500.5 |  |  | 2,531.5 |
Share-based compensation | 14.5 |  |  | 28.6 |
Net operating loss and tax credit carryforwards | 19.6 |  |  | 19.3 |
Intangible assets | — |  |  | 6.8 |
Capitalized research and experimental expenses | 15.4 |  |  | 13.5 |
Total gross deferred tax assets | 2,641.1 |  |  | 2,687.3 |
Less: valuation allowance | (60.1) |  |  | (51.8) |
Deferred tax assets | 2,581.0 |  |  | 2,635.5 |
Deferred tax liabilities: |  |  |
Tax deductible goodwill | (39.7) |  |  | (34.0) |
Intangible assets | (153.8) |  |  | — |
Plant and equipment | (48.8) |  |  | (46.5) |
Foreign deferred tax liabilities | (45.5) |  |  | (32.5) |
Total gross deferred tax liabilities | (287.8) |  |  | (113.0) |
Net deferred tax assets | $ | 2,293.2 |  |  | $ | 2,522.5 |
Changes in unrecognized tax benefits | Changes in unrecognized tax benefits:
(In millions) |
Balance at October 31, 2020 | $ | 58.5 |
Decrease based on tax positions in prior fiscal years | (8.3) |
Increase based on tax positions in current fiscal year | 307.2 |
Settlements | (1.9) |
Lapses of statutes of limitations | (1.7) |
Balance at October 31, 2021 | $ | 353.8 |
Decrease based on tax positions in prior fiscal years | (12.5) |
Settlements | (0.2) |
Lapses of statutes of limitations | (4.2) |
Balance at October 31, 2022 | $ | 336.9 |

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