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LEASES (Tables) | 12 Months Ended
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Oct. 31, 2024
Leases [Abstract] |
Schedule of Components of Lease assets and Liabilities / Operating Lease Liabilities | The components of lease assets and liabilities and their classification on our Consolidated Balance Sheets were as follows:
|  |  |  | As of October 31,
(in millions) |  | Classification |  | 2024 |  | 2023
Lease assets |  |  |  |  |  |
Operating leases |  | Right-of-use assets |  | $ | 101.2 |  |  | $ | 113.4 |
Finance leases |  | Property, plant and equipment, net(1) |  | 20.5 |  |  | 15.2 |
Total lease assets |  |  |  | $ | 121.7 |  |  | $ | 128.6 |
Lease liabilities |  |  |  |  |  |
Current liabilities |  |  |  |  |  |
Operating leases |  | Current portion of lease liabilities |  | $ | 26.6 |  |  | $ | 32.5 |
Finance leases |  | Other accrued liabilities |  | 4.5 |  |  | 3.1 |
Noncurrent liabilities |  |  |  |  |  |
Operating leases |  | Long-term lease liabilities |  | 92.0 |  |  | 98.8 |
Finance leases |  | Other noncurrent liabilities |  | 15.0 |  |  | 11.1 |
Total lease liabilities |  |  |  | $ | 138.1 |  |  | $ | 145.5 |
(1) Finance lease assets are recorded net of accumulated amortization of $23.1 million and $18.9 million as of October 31, 2024 and October 31, 2023, respectively. The following table includes the weighted-average remaining lease terms, in years, and the weighted-average discount rate used to calculate the present value of operating lease liabilities:
|  | Year Ended October 31,
|  | 2024 |  | 2023
Weighted-average remaining lease term (years) |  |  |  |
Operating leases |  | 5.5 |  | 5.5
Finance leases |  | 5.3 |  | 5.2
Weighted-average discount rate |  |  |  |
Operating leases |  | 5.05 | % |  | 4.60 | %
Finance leases |  | 5.88 | % |  | 5.28 | %
Schedule of Lease, Cost | The components of lease costs and classification within the Consolidated Statements of Comprehensive Income were as follows:
|  | Year Ended October 31,
(in millions) |  | 2024 |  | 2023
Operating lease costs: |  |  |  |
Operating expenses(1)(2) |  | $ | 81.6 |  |  | $ | 70.6 |
Selling, general and administrative expenses(3) |  | 26.4 |  |  | 25.4 |
Finance lease costs: |  |  |  |
Operating expenses(4) |  | 4.6 |  |  | 2.4 |
Interest expense(5) |  | 1.1 |  |  | 0.5 |
Total lease costs |  | $ | 113.8 |  |  | $ | 99.0 |
(1) Related to certain parking arrangements. (2) Includes short-term lease costs and variable lease costs. (3) Includes short-term lease costs. (4) Represents amortization of leased assets. (5) Interest on lease liabilities. The following table presents information on short-term and variable lease costs:
|  | Year Ended October 31,
(in millions) |  | 2024 |  | 2023
Short-term lease costs |  | $ | 64.0 |  |  | $ | 53.5 |
Variable lease costs |  | 6.8 |  |  | 6.4 |
Total short-term and variable lease costs |  | $ | 70.8 |  |  | $ | 59.9 |
The following table includes supplemental cash and non-cash information related to operating leases:
|  |  |  | Year Ended October 31,
(in millions) |  |  |  | 2024 |  | 2023
Cash paid for amounts included in the measurement of lease liabilities |  |  |  |  |  |
Operating cash flows from operating leases |  |  |  | $ | 35.3 |  |  | $ | 37.9 |
Operating cash flows from finance leases |  |  |  | 1.1 |  |  | 0.5 |
Financing cash flows from finance leases |  |  |  | 4.2 |  |  | 3.0 |
Lease assets obtained in exchange for new operating lease liabilities |  |  |  | 20.9 |  |  | 28.7 |
Schedule of Maturities of Operating Lease Liabilities | The amounts of future undiscounted cash flows related to the lease payments over the lease terms and the reconciliation to the present value of the lease liabilities as recorded on our Consolidated Balance Sheets as of October 31, 2024, are as follows:
(in millions) |  | Operating Lease Liabilities |  | Finance Lease Liabilities |  | Total
Fiscal 2025 |  | $ | 31.9 |  |  | $ | 5.5 |  |  | $ | 37.4 |
Fiscal 2026 |  | 29.7 |  |  | 4.7 |  |  | 34.4 |
Fiscal 2027 |  | 22.8 |  |  | 3.1 |  |  | 25.9 |
Fiscal 2028 |  | 16.2 |  |  | 3.1 |  |  | 19.4 |
Fiscal 2029 |  | 11.6 |  |  | 3.1 |  |  | 14.7 |
Thereafter |  | 25.1 |  |  | 3.1 |  |  | 28.2 |
Total lease payments |  | 137.2 |  |  | 22.8 |  |  | 160.0 |
Less: imputed interest |  | 18.5 |  |  | 3.3 |  |  | 21.9 |
Present value of lease liabilities |  | $ | 118.7 |  |  | $ | 19.5 |  |  | $ | 138.1 |
Schedule of Maturities of Finance Lease Liabilities | The amounts of future undiscounted cash flows related to the lease payments over the lease terms and the reconciliation to the present value of the lease liabilities as recorded on our Consolidated Balance Sheets as of October 31, 2024, are as follows:
(in millions) |  | Operating Lease Liabilities |  | Finance Lease Liabilities |  | Total
Fiscal 2025 |  | $ | 31.9 |  |  | $ | 5.5 |  |  | $ | 37.4 |
Fiscal 2026 |  | 29.7 |  |  | 4.7 |  |  | 34.4 |
Fiscal 2027 |  | 22.8 |  |  | 3.1 |  |  | 25.9 |
Fiscal 2028 |  | 16.2 |  |  | 3.1 |  |  | 19.4 |
Fiscal 2029 |  | 11.6 |  |  | 3.1 |  |  | 14.7 |
Thereafter |  | 25.1 |  |  | 3.1 |  |  | 28.2 |
Total lease payments |  | 137.2 |  |  | 22.8 |  |  | 160.0 |
Less: imputed interest |  | 18.5 |  |  | 3.3 |  |  | 21.9 |
Present value of lease liabilities |  | $ | 118.7 |  |  | $ | 19.5 |  |  | $ | 138.1 |

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- Definition Tabular disclosure of undiscounted cash flows of finance lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to finance lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-6 + Details
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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-4 + Details
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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-6 + Details
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