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Financial Derivatives and Hedging (Tables) | 12 Months Ended
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Oct. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
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:
Periods Ended October 31, |  |  |  |  |  |  |
(In millions) |  |  | 2023 |  | 2022 |  | 2021
Derivatives designated as cash flow hedges |  | Location of (Gain)/Loss Recognized on Derivatives |  |  |  |  |
Interest rate swap contracts |  | Interest expense (income) | $ | (43.1) |  |  | $ | (2.3) |  |  | $ | 8.0 |
Changes in accumulated other comprehensive (loss) income | Analysis of Changes in Accumulated Other Comprehensive Income (Loss):
(In millions) | Foreign Currency Translation Adjustment |  |  |  | Derivatives |  | Minimum Pension Liability |  | Total
Balance at October 31, 2020 | $ | (402.3) |  |  |  |  | $ | (13.0) |  |  | $ | (56.7) |  |  | $ | (472.0) |
Gross change in value | 82.2 |  |  |  |  | 34.3 |  |  | 29.8 |  |  | 146.3 |
Tax effect | (0.2) |  |  |  |  | (8.2) |  |  | (7.2) |  |  | (15.6) |
Balance at October 31, 2021 | $ | (320.3) |  |  |  |  | $ | 13.1 |  |  | $ | (34.1) |  |  | $ | (341.3) |
Gross change in value | $ | (234.7) |  |  |  |  | $ | 107.4 |  |  | $ | 36.6 |  |  | $ | (90.7) |
Tax effect | — |  |  |  |  | (26.1) |  |  | (8.7) |  |  | (34.8) |
Balance at October 31, 2022 | $ | (555.0) |  |  |  |  | $ | 94.4 |  |  | $ | (6.2) |  |  | $ | (466.8) |
Gross change in value | $ | 17.0 |  |  |  |  | $ | (9.4) |  |  | $ | 4.0 |  |  | $ | 11.6 |
Tax effect | — |  |  |  |  | 2.4 |  |  | (1.0) |  |  | 1.4 |
Balance at October 31, 2023 | $ | (538.0) |  |  |  |  | $ | 87.4 |  |  | $ | (3.2) |  |  | $ | (453.8) |
The following table details the changes in the cumulative pre-tax impact of the gain on derivatives designated for hedge accounting:
(In millions) |  | Amount
Balance gain as of October 31, 2021 |  | $ | 17.2 |
Amount recognized in other comprehensive income on interest rate swap contracts, gross ($79.7, net of tax) |  | 105.1 |
Amount reclassified from other comprehensive income into earnings, gross ($1.7, net of tax) |  | 2.2 |
Balance gain as of October 31, 2022 |  | $ | 124.5 |
Amount recognized in other comprehensive income on interest rate swap contracts, gross ($25.7, net of tax) |  | 33.7 |
Amount reclassified from other comprehensive income into earnings, gross ($(32.7), net of tax) |  | (43.1) |
Balance gain as of October 31, 2023 |  | $ | 115.1 |

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