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Income Taxes (Tables) | 12 Months Ended
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Oct. 31, 2023
Income Tax Disclosure [Abstract] |
Income before income taxes | Components of income before income taxes:
Years Ended October 31, (In millions) | 2023 |  | 2022 |  | 2021
Income before income taxes: |  |  |  |  |
United States | $ | (135.7) |  |  | $ | 31.4 |  |  | $ | (31.0) |
Foreign | 548.6 |  |  | 443.9 |  |  | 522.5 |
| $ | 412.9 |  |  | $ | 475.3 |  |  | $ | 491.5 |
Provision for income taxes | Components of provision for income taxes:
Years Ended October 31, (In millions) | 2023 |  | 2022 |  | 2021
Current: |  |  |  |  |
Federal | $ | 37.3 |  |  | $ | 10.2 |  |  | $ | 21.0 |
State | 3.7 |  |  | 3.8 |  |  | 1.3 |
Foreign | 33.0 |  |  | 21.7 |  |  | 26.7 |
| 74.0 |  |  | 35.7 |  |  | 49.0 |
Deferred: |  |  |  |  |
Federal | (36.7) |  |  | 10.5 |  |  | (8.8) |
State | (7.5) |  |  | (2.2) |  |  | (0.5) |
Foreign | 88.9 |  |  | 45.6 |  |  | (2,492.9) |
| 44.7 |  |  | 53.9 |  |  | (2,502.2) |
Provision for income taxes | $ | 118.7 |  |  | $ | 89.5 |  |  | $ | (2,453.2) |
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) | 2023 |  | 2022 |  | 2021
Provision for income taxes at United States statutory tax rate | $ | 86.7 |  |  | $ | 99.8 |  |  | $ | 103.2 |
(Decrease) increase in taxes resulting from: |  |  |  |  |
Foreign earnings in jurisdictions with different tax rates | 7.0 |  |  | (22.3) |  |  | (43.6) |
Foreign earnings subject to United States tax | 34.3 |  |  | 21.1 |  |  | 25.4 |
Excess tax benefits from share-based compensation | (2.4) |  |  | (2.6) |  |  | (13.0) |
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) |
State tax provision | (4.2) |  |  | 5.0 |  |  | 0.8 |
Other, net | (2.7) |  |  | 1.2 |  |  | 6.1 |
Provision for income taxes | $ | 118.7 |  |  | $ | 89.5 |  |  | $ | (2,453.2) |
Deferred tax assets and liabilities | Components of deferred tax assets and liabilities:
Years Ended October 31, (In millions) | 2023 |  | 2022
Deferred tax assets: |  |  |
Accounts receivable | $ | 7.5 |  |  | $ | 4.9 |
Inventories | 14.3 |  |  | 6.3 |
Accrued liabilities, reserves and compensation accruals | 94.8 |  |  | 79.9 |
Foreign deferred tax assets | 2,369.5 |  |  | 2,500.5 |
Share-based compensation | 14.8 |  |  | 14.5 |
Net operating loss and tax credit carryforwards | 24.3 |  |  | 19.6 |
Capitalized research and experimental expenses | 23.6 |  |  | 15.4 |
Total gross deferred tax assets | 2,548.8 |  |  | 2,641.1 |
Less: valuation allowance | (20.7) |  |  | (60.1) |
Deferred tax assets | 2,528.1 |  |  | 2,581.0 |
Deferred tax liabilities: |  |  |
Tax deductible goodwill | (47.4) |  |  | (39.7) |
Intangible assets | (132.4) |  |  | (153.8) |
Plant and equipment | (51.2) |  |  | (48.8) |
Foreign deferred tax liabilities | (49.0) |  |  | (45.5) |
Total gross deferred tax liabilities | (280.0) |  |  | (287.8) |
Net deferred tax assets | $ | 2,248.1 |  |  | $ | 2,293.2 |
Changes in unrecognized tax benefits | Changes in unrecognized tax benefits:
(In millions) |
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 |
Decrease based on tax positions in prior fiscal years | (0.5) |
Increase based on tax positions in current fiscal year | 2.0 |
Lapses of statutes of limitations | (6.9) |
Balance at October 31, 2023 | $ | 331.5 |

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