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INCOME TAXES (Tables)
 12 Months Ended
Oct. 31, 2024
Income Tax Disclosure [Abstract]  
Schedule of Provision for Income Taxes
The provision for income taxes consists of the following:
Year Ended October 31,
(in millions)202420232022
Current
Federal$44.7 $77.4 $54.6 
State and local8.9 19.6 19.9 
Non-U.S.59.8 49.1 49.2 
Total Current113.4 146.1 123.7 
Deferred
Federal(61.5)(18.8)12.5 
State and local(12.7)(8.6)(6.6)
Non-U.S.(12.0)(0.9)7.5 
Total Deferred(86.2)(28.3)13.4 
Tax expense$27.2 $117.8 $137.1 
Schedule of Reconciliation of Effective Income Tax Rate
The following is a reconciliation of the provision for income taxes based on the federal statutory rate to the Company’s effective income tax rate:
Year Ended October 31,
202420232022
Federal statutory rate21.00 %21.00 %21.00 %
Impact of foreign tax rate differential1.26 %1.78 %2.03 %
State and local taxes, net of federal tax benefit(1.04)%1.71 %2.01 %
Net impact of changes in valuation allowances(3.32)%(2.21)%(1.05)%
Permanent book-tax differences5.71 %(0.25)%1.60 %
Withholding taxes5.14 %2.95 %2.33 %
Tax credits(6.63)%(1.40)%(0.99)%
Impact of intangible property transfers(15.38)%— %— %
Other items, net1.77 %0.23 %(0.84)%
Company’s effective income tax rate8.51 %23.81 %26.09 %
Schedule of Significant Components of Company's Deferred Tax Assets and Liabilities
The components of the Company’s deferred tax assets and liabilities as of October 31 for the years indicated were as follows:
(in millions)20242023
Deferred tax assets
Net operating loss and other carryforwards$126.5 $104.9 
Incentive liabilities20.5 18.6 
Operating lease liabilities68.1 70.3 
Other reserves12.5 16.0 
Research and development expenses56.7 29.7 
Other70.3 45.4 
Total deferred tax assets354.6 284.9 
Valuation allowance(87.4)(97.3)
Net deferred tax assets$267.2 $187.6 
Deferred tax liabilities
Properties, plants and equipment$181.1 $157.2 
Operating lease assets68.1 70.3 
Timberland transactions52.7 51.6 
Goodwill and other intangible assets163.2 150.6 
Pension liabilities8.9 10.6 
Other51.4 50.0 
Total deferred tax liabilities525.4 490.3 
Net deferred tax liability$258.2 $302.7 
Schedule of Unrecognized Tax Benefits Roll Forward
A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:
(in millions)202420232022
Balance of unrecognized tax benefit at November 1$23.4 $24.3 $31.0 
Increases in tax positions for prior years1.7 0.6 0.2 
Increases in tax positions for current years3.9 4.1 5.9 
Lapse in statute of limitations(3.6)(4.6)(11.4)
Currency translation0.1 (1.0)(1.4)
Balance at October 31$25.5 $23.4 $24.3