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Financial Derivatives and Hedging (Tables) | 9 Months Ended
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Jul. 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:
Periods Ended July 31, |  |  | Three Months |  | Nine 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) | $ | (14.1) |  |  | $ | (12.1) |  |  | $ | (41.3) |  |  | $ | (30.3) |
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 | 103.9 |  |  | — |  |  | (15.7) |  |  | 88.2 |
Tax effect | — |  |  | — |  |  | 3.8 |  |  | 3.8 |
Balance at July 31, 2023 | $ | (451.1) |  |  | $ | (6.2) |  |  | $ | 82.5 |  |  | $ | (374.8) |
Balance at October 31, 2023 | $ | (538.0) |  |  | $ | (3.2) |  |  | $ | 87.4 |  |  | $ | (453.8) |
Gross change in value | 62.5 |  |  | — |  |  | (44.4) |  |  | 18.1 |
Tax effect | — |  |  | — |  |  | 10.6 |  |  | 10.6 |
Balance at July 31, 2024 | $ | (475.5) |  |  | $ | (3.2) |  |  | $ | 53.6 |  |  | $ | (425.1) |
The following table details the changes in the cumulative pre-tax impact of the gain on derivatives designated for hedge accounting:
Periods Ended July 31, |  | Three Months |  | Nine Months
(In millions) |  | 2024 |  | 2023 |  | 2024 |  | 2023
Beginning balance gain |  | $ | 106.4 |  |  | $ | 89.5 |  |  | $ | 115.1 |  |  | $ | 124.5 |
Amount recognized in accumulated other comprehensive income on interest rate swap contracts, gross |  | (21.6) |  |  | 31.4 |  |  | (3.1) |  |  | 14.6 |
Amount reclassified from accumulated other comprehensive income into earnings, gross |  | (14.1) |  |  | (12.1) |  |  | (41.3) |  |  | (30.3) |
Ending balance gain |  | $ | 70.7 |  |  | $ | 108.8 |  |  | $ | 70.7 |  |  | $ | 108.8 |

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