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INCOME TAXES (Tables) | 11 Months Ended
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Sep. 30, 2025
Income Tax Disclosure [Abstract] |
Schedule of Provision for Income Taxes | The provision for income taxes consists of the following:
| 11 Months |  | 12 Months |  | 12 Months
| September 30, |  | October 31, |  | October 31,
Year Ended (in millions) | 2025 |  | 2024 |  | 2023
Current |  |  |  |  |
Federal | $ | 21.8 |  |  | $ | 41.2 |  |  | $ | 61.7 |
State and local | 11.1 |  |  | 7.4 |  |  | 15.6 |
Non-U.S. | 60.2 |  |  | 59.8 |  |  | 49.1 |
Total Current | 93.1 |  |  | 108.4 |  |  | 126.4 |
Deferred |  |  |  |  |
Federal | (40.0) |  |  | (61.5) |  |  | (18.8) |
State and local | 2.0 |  |  | (12.7) |  |  | (8.6) |
Non-U.S. | 9.7 |  |  | (12.0) |  |  | (0.9) |
Total Deferred | (28.3) |  |  | (86.2) |  |  | (28.3) |
Tax expense | $ | 64.8 |  |  | $ | 22.2 |  |  | $ | 98.1 |
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:
| 11 Months |  | 12 Months |  | 12 Months
| September 30, |  | October 31, |  | October 31,
Year Ended | 2025 |  | 2024 |  | 2023
Federal statutory rate | 21.00 | % |  | 21.00 | % |  | 21.00 | %
Impact of foreign tax rate differential | 6.30 | % |  | 1.43 | % |  | 2.22 | %
State and local taxes, net of federal tax benefit | (2.10) | % |  | (1.72) | % |  | 1.12 | %
Net impact of changes in valuation allowances | 11.00 | % |  | (3.76) | % |  | (2.76) | %
Permanent book-tax differences | 9.49 | % |  | 6.46 | % |  | (0.32) | %
Withholding taxes | 11.10 | % |  | 5.83 | % |  | 3.68 | %
Tax credits | (6.90) | % |  | (5.53) | % |  | (0.17) | %
Impact of intangible property transfers | — | % |  | (17.45) | % |  | — | %
Unrecognized tax benefits | 10.90 | % |  | 0.37 | % |  | 0.05 | %
Other items, net | 1.70 | % |  | 1.25 | % |  | (0.07) | %
Company’s effective income tax rate | 62.49 | % |  | 7.88 | % |  | 24.75 | %
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 September 30 and October 31 for the years indicated were as follows:
| September 30, |  | October 31,
(in millions) | 2025 |  | 2024
Deferred tax assets |  |  |
Net operating loss and other carryforwards | $ | 130.0 |  |  | $ | 126.5 |
Incentive liabilities | 20.2 |  |  | 20.5 |
Operating lease liabilities | 44.7 |  |  | 68.1 |
Other reserves | 13.5 |  |  | 12.5 |
Research and development expenses | 64.1 |  |  | 56.7 |
Other | 77.6 |  |  | 70.3 |
Total deferred tax assets | 350.1 |  |  | 354.6 |
Valuation allowance | (113.3) |  |  | (87.4) |
Net deferred tax assets | $ | 236.8 |  |  | $ | 267.2 |
Deferred tax liabilities |  |  |
Properties, plants and equipment | $ | 141.8 |  |  | $ | 181.1 |
Operating lease assets | 44.7 |  |  | 68.1 |
Timberland transactions | 53.1 |  |  | 52.7 |
Goodwill and other intangible assets | 158.1 |  |  | 163.2 |
Undistributed profits of non-U.S. subsidiaries | 29.9 |  |  | 25.3 |
Pension liabilities | 7.8 |  |  | 8.9 |
Other | 25.1 |  |  | 26.1 |
Total deferred tax liabilities | 460.5 |  |  | 525.4 |
Net deferred tax liability | $ | 223.7 |  |  | $ | 258.2 |
Schedule of Unrecognized Tax Benefits Roll Forward | A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:
(in millions) | 2025 |  | 2024 |  | 2023
Balance of unrecognized tax benefit at beginning of year | $ | 25.5 |  |  | $ | 23.4 |  |  | $ | 24.3 |
Increases in tax positions for prior years | 6.9 |  |  | 1.7 |  |  | 0.6 |
Increases in tax positions for current years | 3.5 |  |  | 3.9 |  |  | 4.1 |
Lapse in statute of limitations | (2.5) |  |  | (3.6) |  |  | (4.6) |
Currency translation | 1.7 |  |  | 0.1 |  |  | (1.0) |
Balance of unrecognized tax benefit at end of year | $ | 35.1 |  |  | $ | 25.5 |  |  | $ | 23.4 |

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