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DEBT (Tables) | 9 Months Ended
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Jul. 31, 2022
Debt Disclosure [Abstract] |
Schedule of Components of Debt | Components of Debt
(in millions) |  | July 31, 2022 |  | October 31, 2021
Current portion of 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 |  | $ | 576.9 |  |  | $ | 601.3 |
Unamortized deferred financing costs |  | (2.7) |  |  | (3.5) |
Total noncurrent portion of term loan |  | 574.2 |  |  | 597.8 |
Revolving line of credit(1)(2) |  | 435.0 |  |  | 255.0 |
Long-term debt |  | $ | 1,009.2 |  |  | $ | 852.8 |
(1) Standby letters of credit amounted to $158.8 million at July 31, 2022. (2) At July 31, 2022, we had borrowing capacity of $705.1 million. At July 31, 2022, the weighted average interest rate on all outstanding borrowings, not including letters of credit, was 3.64%
Schedule of Term Loan Maturities | As of July 31, 2022, the following principal payments are required under the Amended Credit Facility.
(in millions) |  | 2022 |  | 2023 |  | 2024 |  | 2025 |  | 2026
Debt maturities |  | $ | 8.1 |  |  | $ | 32.5 |  |  | $ | 32.5 |  |  | $ | 32.5 |  |  | $ | 938.8 |
Schedule of Interest Rate Swap Information |
Notional Amount |  | Fixed Interest Rate |  | Effective Date |  | Maturity Date
$130.0 million |  | 2.84% |  | November 1, 2018 |  | September 1, 2022
$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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