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Long-term debt | 3 Months Ended
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Jan. 31, 2025
Debt Disclosure [Abstract] |
Long-term debt | Long-term debt A summary of long-term debt is as follows:
|  | January 31, 2025 |  | October 31, 2024
Notes Payable |  | $ | 15,420 |  |  | $ | 18,285 |
Revolving credit agreement, due 2028 |  | 220,000 |  |  | 240,000 |
Term loan due 2026 |  | 280,000 |  |  | 280,000 |
Senior notes, due 2025 |  | 8,500 |  |  | 8,500 |
Senior notes, due 2025-2027 |  | 37,143 |  |  | 37,143 |
Senior notes, due 2025-2030 |  | 190,000 |  |  | 190,000 |
5.600% Notes due 2028 |  | 350,000 |  |  | 350,000 |
5.800% Notes due 2033 |  | 500,000 |  |  | 500,000 |
4.500% Notes due 2029 |  | 600,000 |  |  | 600,000 |
|  | 2,201,063 |  |  | 2,223,928 |
Less current maturities |  | 101,063 |  |  | 103,928 |
Less unamortized debt issuance costs |  | 15,459 |  |  | 16,359 |
Less bond discounts |  | 2,349 |  |  | 2,444 |
Plus impact of interest rate swaps |  | 2,985 |  |  | — |
Long-term maturities |  | $ | 2,085,177 |  |  | $ | 2,101,197 |
Revolving credit agreement — In April 2019, we entered into a $850,000 unsecured multi-currency credit facility with a group of banks, which amended, restated and extended our then existing syndicated revolving credit agreement. This facility had a five-year term expiring in April 2024 and included a $75,000 sub-facility for swing-line loans. On April 17, 2023, we entered into an amendment to, among other things, replace London Interbank Offered Rate with the SOFR, the Euro Interbank Offered Rate, the Sterling Overnight Index Average and the Tokyo Interbank Offered Rate for U.S. Dollar, Euro, British Pound Sterling and Japanese Yen borrowings, respectively. On June 6, 2023, this credit agreement was terminated and replaced by the New Credit Agreement (as defined below). In June 2023, we entered into a $1,150,000 unsecured multi-currency credit facility with a group of banks, which provides for a term loan facility in the aggregate principal amount of $300,000 (the "Term Loan Facility"), maturing in June 2026, and a multicurrency revolving credit facility in the aggregate principal amount of $850,000 (the "Revolving Facility"), maturing in June 2028 (the "New Credit Agreement"). In June 2024, the Revolving Facility was amended to increase the aggregate principal amount to $922,500. The Company borrowed and has outstanding $280,000 on the Term Loan Facility and $220,000 on the Revolving Facility as of January 31, 2025. The Revolving Facility permits borrowing in U.S. Dollars, Euros, Sterling, Swiss Francs, Singapore Dollars, Yen, and each other currency approved by a Revolving Facility lender. The New Credit Agreement provides that the applicable margin for (i) Risk-Free Rate ("RFR"), as defined in the New Credit Agreement, and Eurodollar Loans will range from 0.85% to 1.20% and (ii) Base Rate Loans will range from 0.00% to 0.20%, in each case, based on the Company’s Leverage Ratio (as defined in the New Credit Agreement and calculated on a consolidated net debt basis). Borrowings under the New Credit Agreement bear interest at (i) either a base rate or a SOFR rate, with respect to borrowings in U.S. dollars, (ii) a eurocurrency rate, with respect to borrowings in Euros and Yen, or (iii) Daily Simple RFR, with respect to borrowings in Sterling, Swiss Francs or Singapore Dollars, plus, in each case, an applicable margin (and, solely in the case of Singapore Dollars, a spread adjustment). The applicable margin is based on the Company’s Leverage Ratio. The weighted-average interest rate at January 31, 2025 was 5.83%. Senior notes, due 2025 — These unsecured fixed-rate notes entered into in 2012 with a group of insurance companies have a remaining weighted-average life of 0.48 years. The weighted-average interest rate at January 31, 2025 was 3.07%. Senior notes, due 2025-2027 — These unsecured fixed-rate notes entered into in 2015 with a group of insurance companies have a remaining weighted-average life of 1.30 years. The weighted-average interest rate at January 31, 2025 was 3.13%. Senior notes, due 2025-2030 — These unsecured fixed-rate notes entered into in 2018 with a group of insurance companies have a remaining weighted-average life of 2.44 years. The weighted-average interest rate at January 31, 2025 was 4.03%. 5.600% Notes due 2028 and 5.800% Notes due 2033 — In September 2023, we completed an underwritten public offering of $350,000 aggregate principal amount of 5.600% Notes due 2028 and $500,000 aggregate principal amount of 5.800% Notes due 2033. 4.500% Notes due 2029 — In September 2024, we completed an underwritten public offering of $600,000 aggregate principal amount of 4.500% Notes due 2029 (the "2029 Notes"). We were in compliance with all covenants at January 31, 2025, and the amount we could borrow would not have been limited by any debt covenants.

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- Definition The entire disclosure for long-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 470 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/470/tableOfContent + Details
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