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Financial Derivatives and Hedging (Tables) | 3 Months Ended
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Jan. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
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 Condensed Statements of Income and Comprehensive Income:
Period Ended January 31, |  |  | Three Months |  |
(In millions) |  |  | 2024 |  | 2023 |  |  |  |
Derivatives designated as cash flow hedges |  | Location of (Gain)/Loss Recognized on Derivatives |  |  |  |  |  |  |
Interest rate swap contracts |  | Interest expense (income) | $ | (13.6) |  |  | $ | (8.3) |  |  |  |  |
Schedule of changes in accumulated other comprehensive income | Analysis of Changes in Accumulated Other Comprehensive Loss:
(In millions) | Foreign Currency Translation Adjustment |  | Minimum Pension Liability |  | Derivative Instruments |  | Total
Balance at October 31, 2022 | $ | (555.0) |  |  | $ | (6.2) |  |  | $ | 94.4 |  |  | $ | (466.8) |
Gross change in value | 84.0 |  |  | — |  |  | (27.8) |  |  | 56.2 |
Tax effect | — |  |  | — |  |  | 6.8 |  |  | 6.8 |
Balance at January 31, 2023 | $ | (471.0) |  |  | $ | (6.2) |  |  | $ | 73.4 |  |  | $ | (403.8) |
Balance at October 31, 2023 | $ | (538.0) |  |  | $ | (3.2) |  |  | $ | 87.4 |  |  | $ | (453.8) |
Gross change in value | 59.8 |  |  | — |  |  | (36.8) |  |  | 23.0 |
Tax effect | — |  |  | — |  |  | 8.8 |  |  | 8.8 |
Balance at January 31, 2024 | $ | (478.2) |  |  | $ | (3.2) |  |  | $ | 59.4 |  |  | $ | (422.0) |
The following table details the changes in the cumulative pre-tax impact of the gain on derivatives designated for hedge accounting:
Period Ended January 31, |  | Three Months |  |
(In millions) |  | 2024 |  | 2023 |  |  |  |
Beginning balance gain |  | $ | 115.1 |  |  | $ | 124.5 |  |  |  |  |
Amount recognized in accumulated other comprehensive income on interest rate swap contracts, gross |  | (23.2) |  |  | (19.5) |  |  |  |  |
Amount reclassified from accumulated other comprehensive income into earnings, gross |  | (13.6) |  |  | (8.3) |  |  |  |  |
Ending balance gain |  | $ | 78.3 |  |  | $ | 96.7 |  |  |  |  |

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