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Basis of Presentation and Significant Accounting Policies (Tables) | 9 Months Ended
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Jul. 31, 2019
Accounting Policies [Abstract] |
Schedule of Management Reimbursement Revenue by Segment | These revenues and expenses are reported in equal amounts as costs reimbursed from our managed locations:
| Three Months Ended July 31, |  | Nine Months Ended July 31,
(in millions) | 2019 |  | 2018 |  | 2019 |  | 2018
Business & Industry | $ | 70.9 |  |  | $ | 69.7 |  |  | $ | 211.2 |  |  | $ | 206.1 |
Aviation | 24.4 |  |  | 23.8 |  |  | 72.0 |  |  | 76.9 |
Total | $ | 95.3 |  |  | $ | 93.5 |  |  | $ | 283.2 |  |  | $ | 282.9 |
Schedule of New Accounting Pronouncements Impacts on Consolidated Financial Statements | During the first quarter of 2019, we adopted the following ASUs with no material impact on our consolidated financial statements:
ASU |  | Topic |  | Method of Adoption
2016-01 |  | Financial Instruments |  | Modified retrospective
2016-15 |  | Statement of Cash Flows — Classification of Certain Cash Receipts and Cash Payments |  | Retrospective
2016-16 |  | Income Taxes — Intra-Entity Transfers of Assets Other Than Inventory |  | Modified retrospective
2016-18 |  | Statement of Cash Flows — Restricted Cash |  | Retrospective
2017-07 |  | Compensation — Retirement Benefits |  | Retrospective
2017-09 |  | Compensation — Stock Compensation |  | Prospective
2018-02 |  | Income Statement — Reporting Comprehensive Income: Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income |  | Early adopted; we elected not to reclassify any stranded tax effects of the Tax Cuts and Jobs Act (the “Tax Act”) due to the insignificance of the amount remaining in accumulated other comprehensive income (“AOCI”).
2018-04 |  | Investments — Debt Securities |  | Adopted in conjunction with ASU 2016-01
(in millions) |  | Balance at October 31, 2018 |  | Adjustments Due to Adoption of Topic 606 |  | Balance at November 1, 2018
ASSETS |  |  |  |  |  |
Current assets |  |  |  |  |  |
Trade accounts receivable, net |  | $ | 1,014.1 |  |  | $ | (40.1 | ) |  | $ | 974.0 |
Costs incurred in excess of amounts billed |  | — |  |  | 40.1 |  |  | 40.1 |
Other current assets |  | 37.0 |  |  | 3.6 |  |  | 40.6 |
Other noncurrent assets |  | 109.6 |  |  | 11.5 |  |  | 121.1 |
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |  |  |
Current liabilities |  |  |  |  |  |
Other accrued liabilities |  | $ | 152.7 |  |  | $ | 6.0 |  |  | $ | 158.9 |
Deferred income tax liability, net |  | 37.8 |  |  | 2.6 |  |  | 40.3 |
Retained earnings |  | 771.2 |  |  | 6.5 |  |  | 777.6 |
The impact of adopting Topic 606 on our unaudited consolidated balance sheet as of July 31, 2019 was as follows:
|  | As of July 31, 2019
(in millions) |  | Under Historical Guidance |  | Effect of Adoption |  | As Reported
ASSETS |  |  |  |  |  |
Current assets |  |  |  |  |  |
Other current assets |  | $ | 44.0 |  |  | $ | 9.5 |  |  | $ | 53.5 |
Other noncurrent assets |  | 108.0 |  |  | 12.2 |  |  | 120.2 |
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |  |  |
Current liabilities |  |  |  |  |  |
Other accrued liabilities |  | $ | 159.9 |  |  | $ | 6.6 |  |  | $ | 166.4 |
Deferred income tax liability, net |  | 30.7 |  |  | 0.9 |  |  | 31.6 |
Retained earnings |  | 806.2 |  |  | 14.3 |  |  | 820.5 |
The impacts of adopting Topic 606 and Topic 853 on our unaudited consolidated statements of comprehensive income for the three and nine months ended July 31, 2019 were as follows:
|  | Three Months Ended July 31, 2019 |  | Nine Months Ended July 31, 2019
(in millions, except per share amounts) |  | Under Historical Guidance |  | Effect of Adoption |  | As Reported |  | Under Historical Guidance |  | Effect of Adoption |  | As Reported
Revenues |  | $ | 1,661.0 |  |  | $ | (13.1 | ) |  | $ | 1,647.9 |  |  | $ | 4,887.1 |  |  | $ | (36.5 | ) |  | $ | 4,850.6 |
Operating expenses |  | 1,466.6 |  |  | (12.5 | ) |  | 1,454.1 |  |  | 4,350.3 |  |  | (36.1 | ) |  | 4,314.2 |
Selling, general and administrative expenses |  | 121.9 |  |  | (2.2 | ) |  | 119.8 |  |  | 347.5 |  |  | (6.6 | ) |  | 340.9 |
Income tax provision |  | 8.1 |  |  | 0.4 |  |  | 8.5 |  |  | 24.2 |  |  | 1.6 |  |  | 25.8 |
Net income |  | 35.6 |  |  | 1.2 |  |  | 36.8 |  |  | 74.8 |  |  | 4.6 |  |  | 79.4 |
Net income per common share — Basic |  | $ | 0.53 |  |  | $ | 0.02 |  |  | $ | 0.55 |  |  | $ | 1.13 |  |  | $ | 0.07 |  |  | $ | 1.19 |
Net income per common share — Diluted |  | $ | 0.53 |  |  | $ | 0.02 |  |  | $ | 0.55 |  |  | $ | 1.12 |  |  | $ | 0.07 |  |  | $ | 1.19 |

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