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DEBT (Tables) | 12 Months Ended
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Oct. 31, 2022
Debt Disclosure [Abstract] |
Schedule of Components of Debt | Components of Debt
| As of October 31,
(in millions) | 2022 |  | 2021
Current portion of long-term debt |  |  |
Gross term loan | $ | 32.5 |  |  | $ | 32.5 |
Unamortized deferred financing costs | (1.0) |  |  | (1.1) |
Current portion of term loan | $ | 31.5 |  |  | $ | 31.4 |
Receivables facility | 150.0 |  |  | — |
Current portion of debt | $ | 181.5 |  |  | $ | 31.4 |
Long-term debt |  |  |
Gross term loan | $ | 568.8 |  |  | $ | 601.3 |
Unamortized deferred financing costs | (2.4) |  |  | (3.5) |
Total noncurrent portion of term loan | 566.3 |  |  | 597.8 |
Revolving line of credit(1)(2) | 520.0 |  |  | 255.0 |
Long-term debt | $ | 1,086.3 |  |  | $ | 852.8 |
(1) Standby letters of credit amounted to $158.3 million at October 31, 2022. (2) At October 31, 2022, we had borrowing capacity of $612.9 million.
Schedule of Term Loan Maturities | As of October 31, 2022, the following principal payments are required under the term loan.
(in millions) |  | 2023 |  | 2024 |  | 2025 |  | 2026 |  | 2027
Debt maturities |  | $ | 32.5 |  |  | $ | 32.5 |  |  | $ | 32.5 |  |  | $ | 1,023.8 |  |  | $ | — |
Schedule of Interest Rate Swap Information |
Notional Amount |  | Fixed Interest Rate |  | Effective Date |  | Maturity Date
$ 100.0 million |  | 1.78% |  | February 9, 2022 |  | June 28, 2026
$ 150.0 million |  | 1.92% |  | February 25, 2022 |  | June 28, 2026
$ 100.0 million |  | 2.98% |  | May 4, 2022 |  | June 28, 2026
$ 129.4 million(1) |  | 2.89% |  | July 7, 2022 |  | June 28, 2026
$ 170.6 million(1) |  | 2.86% |  | July 18, 2022 |  | June 28, 2026
(1) In July 2022, we entered into interest rate swap agreements with notional values totaling $300.0 million at inception. The notional amount reduces to $250.0 million in April 2024, $175.0 million in October 2024, and $100.0 million in October 2025 before maturing on June 28, 2026

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