XML 40 R17.htm IDEA: XBRL DOCUMENT
v3.22.4

GOODWILL AND OTHER INTANGIBLE ASSETS | 12 Months Ended
--- | ---
Oct. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL AND OTHER INTANGIBLE ASSETS | GOODWILL AND OTHER INTANGIBLE ASSETS Goodwill
(in millions) | Business & Industry |  | Manufacturing & Distribution |  | Education |  | Aviation |  | Technical Solutions |  | Total
Balance at October 31, 2020 | $ | 574.0 |  |  | $ | 407.2 |  |  | $ | 459.3 |  |  | $ | 69.5 |  |  | $ | 161.5 |  |  | $ | 1,671.4 |
Acquisition | 554.0 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Foreign currency translation | 1.8 |  |  | — |  |  | — |  |  | 0.4 |  |  | 1.2 |  |  | 3.4 |
Balance at October 31, 2021 | $ | 1,129.8 |  |  | $ | 407.2 |  |  | $ | 459.3 |  |  | $ | 69.9 |  |  | $ | 162.7 |  |  | $ | 2,228.9 |
Acquisitions (1) | 61.7 |  |  | — |  |  | — |  |  | — |  |  | 207.5 |  |  | 269.2 |
Reallocation(2) | (95.0) |  |  | 95.0 |  |  | — |  |  | — |  |  | — |  |  | — |
Foreign currency translation | (8.7) |  |  | — |  |  | — |  |  | (1.1) |  |  | (2.7) |  |  | (12.6) |
Balance at October 31, 2022 | $ | 1,087.9 |  |  | $ | 502.2 |  |  | $ | 459.3 |  |  | $ | 68.7 |  |  | $ | 367.4 |  |  | $ | 2,485.6 |
(1) During 2022, goodwill increased primarily as a result of the RavenVolt and Momentum acquisitions. See Note 3, “Acquisitions and Dispositions,” for additional information. (2) In connection with the reorganization of our T&M segment in Q1 2022 we reallocated $95.0 million of goodwill from our B&I segment to our M&D segment using a relative fair value approach. We did not record goodwill impairment charges during fiscal years 2022 and 2021. Other Intangible Assets
| As of October 31,
| 2022 |  | 2021
(in millions) | Gross Carrying Amount |  | Accumulated Amortization |  | Total |  | Gross Carrying Amount |  | Accumulated Amortization |  | Total
Customer contracts and relationships | $ | 801.6 |  |  | $ | (442.1) |  |  | $ | 359.6 |  |  | $ | 793.8 |  |  | $ | (378.5) |  |  | $ | 415.3 |
Trademarks and trade names(1) | 21.4 |  |  | (15.4) |  |  | 6.1 |  |  | 19.8 |  |  | (10.4) |  |  | 9.5 |
Contract rights and other(1) | 15.3 |  |  | (2.4) |  |  | 12.9 |  |  | 0.5 |  |  | (0.4) |  |  | 0.1 |
Total(2) | $ | 838.4 |  |  | $ | (459.8) |  |  | $ | 378.5 |  |  | $ | 814.1 |  |  | $ | (389.3) |  |  | $ | 424.8 |
(1) Additions reflect the Momentum and RavenVolt acquisitions in 2022. See Note 3, “Acquisitions and Dispositions,” for additional information. (2) These intangible assets are being amortized over the expected period of benefit, with a weighted average life of approximately 11 years. Estimated Annual Amortization Expense for Each of the Next Five Years
(in millions) | 2023 |  | 2024 |  | 2025 |  | 2026 |  | 2027
Estimated amortization expense(1) | $ | 75.9 |  |  | $ | 54.3 |  |  | $ | 47.3 |  |  | $ | 41.2 |  |  | $ | 35.9 |
(1) These amounts could vary as acquisitions of additional intangible assets occur in the future and as purchase price allocations are finalized for existing acquisitions. The estimates of future cash flows used in determining the fair value of goodwill and other intangible assets involve significant management judgment and are based upon assumptions about expected future operating performance, economic conditions, market conditions, and cost of capital. Inherent in estimating the future cash flows are uncertainties beyond our control, such as changes in capital markets. The actual cash flows could differ materially from management’s estimates due to changes in business conditions, operating performance, and economic conditions.

X
- References No definition available. + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI https://asc.fasb.org/topic&trid=2144416 + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration