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Leases | 12 Months Ended
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Oct. 31, 2021
Leases [Abstract] |
Leases | LEASES The components of lease assets and liabilities and their classification on our Consolidated Balance Sheets were as follows:
(in millions) |  | Classification |  | October 31, 2021 |  | October 31, 2020
Lease assets |  |  |  |  |  |
Operating leases |  | Right-of-use assets |  | $ | 126.5 |  |  | $ | 143.1 |
Finance leases |  | Property, plant and equipment, net(1) |  | 3.7 |  |  | 6.1 |
Total lease assets |  |  |  | $ | 130.2 |  |  | $ | 149.2 |
Lease liabilities |  |  |  |  |  |
Current liabilities |  |  |  |  |  |
Operating leases |  | Current portion of lease liabilities |  | $ | 31.8 |  |  | $ | 35.0 |
Finance leases |  | Other accrued liabilities |  | 0.4 |  |  | 2.3 |
Noncurrent liabilities |  |  |  |  |  |
Operating leases |  | Long-term lease liabilities |  | 116.6 |  |  | 131.4 |
Finance leases |  | Other noncurrent liabilities |  | 2.0 |  |  | 2.8 |
Total lease liabilities |  |  |  | $ | 150.8 |  |  | $ | 171.4 |
(1) Finance lease assets are recorded net of accumulated amortization of $16.3 million and $13.6 million as of October 31, 2021 and October 31, 2020, respectively. The components of lease costs and classification within the Consolidated Statements of Comprehensive Income (Loss) were as follows:
(in millions) |  | Year Ended October 31, 2021 |  | Years Ended October 31, 2020
Operating lease costs: |  |  |  |
Operating expenses(1)(2) |  | $ | 51.9 |  |  | $ | 67.9 |
Selling, general and administrative expenses(3) |  | 25.3 |  |  | 28.5 |
Finance lease costs: |  |  |  |
Operating expenses(4) |  | 2.5 |  |  | 3.5 |
Interest expense(5) |  | 0.5 |  |  | 0.5 |
Total lease costs |  | $ | 80.2 |  |  | $ | 100.4 |
(1) Related to certain parking arrangements. (2) Includes short-term lease costs and variable lease costs. (3) Includes short-term lease costs. (4) Represents amortization of leased assets. (5) Interest on lease liabilities. The following table presents information on short-term and variable lease costs:
(in millions) |  | Year Ended October 31, 2021 |  | Year Ended October 31, 2020
Short-term lease costs |  | $ | 34.8 |  |  | $ | 47.0 |
Variable lease costs |  | 3.7 |  |  | 3.5 |
Total short-term and variable lease costs |  | $ | 38.5 |  |  | $ | 50.5 |
Sublease income generated during the year ended October 31, 2021, was immaterial. We continue to monitor the impact of the Pandemic on our subleases; however, we do not expect a significant impact. The amounts of future undiscounted cash flows related to the lease payments over the lease terms and the reconciliation to the present value of the lease liabilities as recorded on our Consolidated Balance Sheets as of October 31, 2021, are as follows:
(in millions) |  | Operating Lease Liabilities |  | Finance Lease Liabilities |  | Total
Fiscal 2022 |  | $ | 37.2 |  |  | $ | 1.7 |  |  | $ | 38.9 |
Fiscal 2023 |  | 32.1 |  |  | 0.9 |  |  | 33.0 |
Fiscal 2024 |  | 27.2 |  |  | — |  |  | 27.2 |
Fiscal 2025 |  | 21.1 |  |  | — |  |  | 21.1 |
Fiscal 2026 |  | 18.7 |  |  | — |  |  | 18.7 |
Thereafter |  | 31.6 |  |  | — |  |  | 31.6 |
Total lease payments |  | 168.0 |  |  | 2.6 |  |  | 170.6 |
Less: imputed interest |  | 19.6 |  |  | 0.2 |  |  | 19.8 |
Present value of lease liabilities |  | $ | 148.4 |  |  | $ | 2.4 |  |  | $ | 150.8 |
Future sublease rental income was excluded for the periods shown above as the amounts are immaterial. We have entered into operating lease arrangements as of October 31, 2021, that are effective for future periods. The total amount of ROU assets and lease liabilities related to these arrangements is immaterial. The following table includes the weighted-average remaining lease terms, in years, and the weighted-average discount rate used to calculate the present value of operating lease liabilities:
|  | Year Ended October 31, 2021 |  | Year Ended October 31, 2020
Weighted-average remaining lease term (years) |  |  |  |
Operating leases |  | 5.7 |  | 6.1
Finance leases |  | 1.5 |  | 2.0
Weighted-average discount rate |  |  |  |
Operating leases |  | 4.11 | % |  | 4.14 | %
Finance leases |  | 4.78 | % |  | 4.55 | %
The following table includes supplemental cash and non-cash information related to operating leases:
(in millions) |  |  |  | Year Ended October 31, 2021 |  | Year Ended October 31, 2020
Cash paid for amounts included in the measurement of lease liabilities |  |  |  |  |  |
Operating cash flows from operating leases |  |  |  | $ | 38.9 |  |  | $ | 44.8 |
Operating cash flows from finance leases |  |  |  | 0.5 |  |  | 0.5 |
Financing cash flows from finance leases |  |  |  | 2.8 |  |  | 3.4 |
Lease assets obtained in exchange for new operating lease liabilities(1) |  |  |  | 20.6 |  |  | 15.7 |
(1) Excludes the amount initially capitalized in 2020 in conjunction with the adoption of Topic 842.
Leases | LEASES The components of lease assets and liabilities and their classification on our Consolidated Balance Sheets were as follows:
(in millions) |  | Classification |  | October 31, 2021 |  | October 31, 2020
Lease assets |  |  |  |  |  |
Operating leases |  | Right-of-use assets |  | $ | 126.5 |  |  | $ | 143.1 |
Finance leases |  | Property, plant and equipment, net(1) |  | 3.7 |  |  | 6.1 |
Total lease assets |  |  |  | $ | 130.2 |  |  | $ | 149.2 |
Lease liabilities |  |  |  |  |  |
Current liabilities |  |  |  |  |  |
Operating leases |  | Current portion of lease liabilities |  | $ | 31.8 |  |  | $ | 35.0 |
Finance leases |  | Other accrued liabilities |  | 0.4 |  |  | 2.3 |
Noncurrent liabilities |  |  |  |  |  |
Operating leases |  | Long-term lease liabilities |  | 116.6 |  |  | 131.4 |
Finance leases |  | Other noncurrent liabilities |  | 2.0 |  |  | 2.8 |
Total lease liabilities |  |  |  | $ | 150.8 |  |  | $ | 171.4 |
(1) Finance lease assets are recorded net of accumulated amortization of $16.3 million and $13.6 million as of October 31, 2021 and October 31, 2020, respectively. The components of lease costs and classification within the Consolidated Statements of Comprehensive Income (Loss) were as follows:
(in millions) |  | Year Ended October 31, 2021 |  | Years Ended October 31, 2020
Operating lease costs: |  |  |  |
Operating expenses(1)(2) |  | $ | 51.9 |  |  | $ | 67.9 |
Selling, general and administrative expenses(3) |  | 25.3 |  |  | 28.5 |
Finance lease costs: |  |  |  |
Operating expenses(4) |  | 2.5 |  |  | 3.5 |
Interest expense(5) |  | 0.5 |  |  | 0.5 |
Total lease costs |  | $ | 80.2 |  |  | $ | 100.4 |
(1) Related to certain parking arrangements. (2) Includes short-term lease costs and variable lease costs. (3) Includes short-term lease costs. (4) Represents amortization of leased assets. (5) Interest on lease liabilities. The following table presents information on short-term and variable lease costs:
(in millions) |  | Year Ended October 31, 2021 |  | Year Ended October 31, 2020
Short-term lease costs |  | $ | 34.8 |  |  | $ | 47.0 |
Variable lease costs |  | 3.7 |  |  | 3.5 |
Total short-term and variable lease costs |  | $ | 38.5 |  |  | $ | 50.5 |
Sublease income generated during the year ended October 31, 2021, was immaterial. We continue to monitor the impact of the Pandemic on our subleases; however, we do not expect a significant impact. The amounts of future undiscounted cash flows related to the lease payments over the lease terms and the reconciliation to the present value of the lease liabilities as recorded on our Consolidated Balance Sheets as of October 31, 2021, are as follows:
(in millions) |  | Operating Lease Liabilities |  | Finance Lease Liabilities |  | Total
Fiscal 2022 |  | $ | 37.2 |  |  | $ | 1.7 |  |  | $ | 38.9 |
Fiscal 2023 |  | 32.1 |  |  | 0.9 |  |  | 33.0 |
Fiscal 2024 |  | 27.2 |  |  | — |  |  | 27.2 |
Fiscal 2025 |  | 21.1 |  |  | — |  |  | 21.1 |
Fiscal 2026 |  | 18.7 |  |  | — |  |  | 18.7 |
Thereafter |  | 31.6 |  |  | — |  |  | 31.6 |
Total lease payments |  | 168.0 |  |  | 2.6 |  |  | 170.6 |
Less: imputed interest |  | 19.6 |  |  | 0.2 |  |  | 19.8 |
Present value of lease liabilities |  | $ | 148.4 |  |  | $ | 2.4 |  |  | $ | 150.8 |
Future sublease rental income was excluded for the periods shown above as the amounts are immaterial. We have entered into operating lease arrangements as of October 31, 2021, that are effective for future periods. The total amount of ROU assets and lease liabilities related to these arrangements is immaterial. The following table includes the weighted-average remaining lease terms, in years, and the weighted-average discount rate used to calculate the present value of operating lease liabilities:
|  | Year Ended October 31, 2021 |  | Year Ended October 31, 2020
Weighted-average remaining lease term (years) |  |  |  |
Operating leases |  | 5.7 |  | 6.1
Finance leases |  | 1.5 |  | 2.0
Weighted-average discount rate |  |  |  |
Operating leases |  | 4.11 | % |  | 4.14 | %
Finance leases |  | 4.78 | % |  | 4.55 | %
The following table includes supplemental cash and non-cash information related to operating leases:
(in millions) |  |  |  | Year Ended October 31, 2021 |  | Year Ended October 31, 2020
Cash paid for amounts included in the measurement of lease liabilities |  |  |  |  |  |
Operating cash flows from operating leases |  |  |  | $ | 38.9 |  |  | $ | 44.8 |
Operating cash flows from finance leases |  |  |  | 0.5 |  |  | 0.5 |
Financing cash flows from finance leases |  |  |  | 2.8 |  |  | 3.4 |
Lease assets obtained in exchange for new operating lease liabilities(1) |  |  |  | 20.6 |  |  | 15.7 |
(1) Excludes the amount initially capitalized in 2020 in conjunction with the adoption of Topic 842.

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- Definition The entire disclosure for finance leases of lessee. Includes, but is not limited to, description of lessee's finance lease and maturity analysis of finance lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=77888251 + Details
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