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GOODWILL AND OTHER INTANGIBLE ASSETS | 12 Months Ended
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Oct. 31, 2023
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, 2021 | $ | 1,129.8 |  |  | $ | 407.2 |  |  | $ | 459.3 |  |  | $ | 69.9 |  |  | $ | 162.7 |  |  | 2,228.9 |  |  |
Acquisitions | 61.7 |  |  | — |  |  | — |  |  | — |  |  | 207.5 |  |  | 269.2 |  |  |
Foreign currency translation | (8.7) |  |  | — |  |  | — |  |  | (1.1) |  |  | (2.7) |  |  | (12.6) |  |  |
Reallocation (1) | (95.0) |  |  | 95.0 |  |  | — |  |  | — |  |  | — |  |  | — |  |  |
Balance at October 31, 2022 | $ | 1,087.8 |  |  | $ | 502.2 |  |  | $ | 459.3 |  |  | $ | 68.7 |  |  | $ | 367.4 |  |  | $ | 2,485.6 |  |  |
Acquisitions (2) | 1.3 |  |  | — |  |  | — |  |  | — |  |  | (0.1) |  |  | 1.1 |  |  |
Foreign currency translation | 3.6 |  |  | — |  |  | — |  |  | 0.3 |  |  | 0.8 |  |  | 4.7 |  |  |
Balance at October 31, 2023 | $ | 1,092.9 |  |  | $ | 502.2 |  |  | $ | 459.3 |  |  | $ | 69.0 |  |  | $ | 368.0 |  |  | $ | 2,491.3 |  |  |
(1) In connection with the reorganization of our T&M segment in the first quarter of 2022, we reallocated $95.0 million of goodwill from our B&I segment to our M&D segment using a relative fair value approach. (2) During 2023, represents final acquisition accounting adjustments to goodwill from RavenVolt and Momentum acquisitions. See Note 3, “Acquisitions and Dispositions,” for additional information. We did not record goodwill impairment charges during fiscal years 2023 and 2022. Other Intangible Assets
| As of October 31,
| 2023 |  | 2022
(in millions) | Gross Carrying Amount |  | Accumulated Amortization |  | Total |  | Gross Carrying Amount |  | Accumulated Amortization |  | Total
Customer contracts and relationships | $ | 714.1 |  |  | $ | (413.2) |  |  | $ | 300.9 |  |  | $ | 801.6 |  |  | $ | (442.1) |  |  | $ | 359.6 |
Trademarks and trade names | 12.1 |  |  | (11.1) |  |  | 1.0 |  |  | 21.4 |  |  | (15.4) |  |  | 6.1 |
Contract rights and other | 15.0 |  |  | (14.0) |  |  | 1.1 |  |  | 15.3 |  |  | (2.4) |  |  | 12.9 |
Total(1) | $ | 741.2 |  |  | $ | (438.3) |  |  | $ | 302.9 |  |  | $ | 838.4 |  |  | $ | (459.8) |  |  | $ | 378.5 |
(1) 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) | 2024 |  | 2025 |  | 2026 |  | 2027 |  | 2028
Estimated amortization expense(1) | $ | 54.4 |  |  | $ | 47.4 |  |  | $ | 41.3 |  |  | $ | 35.9 |  |  | $ | 30.9 |
(1) These amounts could vary as acquisitions of additional intangible assets occur in the future and as acquisition accounting is 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.

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 350 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//350/tableOfContent + Details
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