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DEBT (Tables) | 3 Months Ended
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Jan. 31, 2023
Debt Disclosure [Abstract] |
Schedule of Components of Debt | Components of Debt
(in millions) |  | January 31, 2023 |  | October 31, 2022
Current portion of debt |  |  |  |
Gross term loan |  | $ | 32.5 |  |  | $ | 32.5 |
Unamortized deferred financing costs |  | (1.0) |  |  | (1.0) |
Current portion of term loan |  | $ | 31.5 |  |  | $ | 31.5 |
Receivables facility |  | 150.0 |  |  | 150.0 |
Current portion of debt |  | $ | 181.5 |  |  | $ | 181.5 |
Long-term debt |  |  |  |
Gross term loan |  | $ | 560.6 |  |  | $ | 568.8 |
Unamortized deferred financing costs |  | (2.2) |  |  | (2.4) |
Total noncurrent portion of term loan |  | 558.4 |  |  | 566.3 |
Revolving line of credit(1)(2) |  | 645.0 |  |  | 520.0 |
Long-term debt |  | $ | 1,203.4 |  |  | $ | 1,086.3 |
(1) Standby letters of credit amounted to $83.6 million at January 31, 2023. (2) At January 31, 2023, we had borrowing capacity of $563.3 million.
Schedule of Term Loan Maturities | As of January 31, 2023, the following principal payments are required under the term loan.
(in millions) |  | 2023 |  | 2024 |  | 2025 |  | 2026 |  | 2027
Debt maturities |  | $ | 24.4 |  |  | $ | 32.5 |  |  | $ | 32.5 |  |  | $ | 1,148.8 |  |  | $ | — |
Schedule of Interest Rate Swap Information |
Notional Amount |  | Fixed Interest Rate |  | Effective Date |  | Maturity Date
$100.0 million |  | 1.72% |  | February 9, 2022 |  | June 28, 2026
$150.0 million |  | 1.85% |  | February 25, 2022 |  | June 28, 2026
$100.0 million |  | 2.88% |  | May 4, 2022 |  | June 28, 2026
$243.1 million (1) |  | 2.83% |  | July 7, 2022 |  | June 28, 2026
$56.9 million (1) |  | 2.79% |  | July 18, 2022 |  | June 28, 2026
$170.0 million |  | 3.81% |  | November 1, 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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