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Financial Derivatives and Hedging (Tables) | 6 Months Ended
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Apr. 30, 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:
Periods Ended April 30, |  |  | Three Months |  | Six Months
(In millions) |  |  | 2024 |  | 2023 |  | 2024 |  | 2023
Derivatives designated as cash flow hedges |  | Location of (Gain)/Loss Recognized on Derivatives |  |  |  |  |  |  |
Interest rate swap contracts |  | Interest expense (income) | $ | (13.6) |  |  | $ | (9.9) |  |  | $ | (27.2) |  |  | $ | (18.2) |
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 | 69.5 |  |  | — |  |  | (35.0) |  |  | 34.5 |
Tax effect | — |  |  | — |  |  | 8.5 |  |  | 8.5 |
Balance at April 30, 2023 | $ | (485.5) |  |  | $ | (6.2) |  |  | $ | 67.9 |  |  | $ | (423.8) |
Balance at October 31, 2023 | $ | (538.0) |  |  | $ | (3.2) |  |  | $ | 87.4 |  |  | $ | (453.8) |
Gross change in value | 37.8 |  |  | — |  |  | (8.7) |  |  | 29.1 |
Tax effect | — |  |  | — |  |  | 2.1 |  |  | 2.1 |
Balance at April 30, 2024 | $ | (500.2) |  |  | $ | (3.2) |  |  | $ | 80.8 |  |  | $ | (422.6) |
The following table details the changes in the cumulative pre-tax impact of the gain on derivatives designated for hedge accounting:
Periods Ended April 30, |  | Three Months |  | Six Months
(In millions) |  | 2024 |  | 2023 |  | 2024 |  | 2023
Beginning balance gain |  | $ | 78.3 |  |  | $ | 96.7 |  |  | $ | 115.1 |  |  | $ | 124.5 |
Amount recognized in accumulated other comprehensive income on interest rate swap contracts, gross |  | 41.7 |  |  | 2.7 |  |  | 18.5 |  |  | (16.8) |
Amount reclassified from accumulated other comprehensive income into earnings, gross |  | (13.6) |  |  | (9.9) |  |  | (27.2) |  |  | (18.2) |
Ending balance gain |  | $ | 106.4 |  |  | $ | 89.5 |  |  | $ | 106.4 |  |  | $ | 89.5 |

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