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SEGMENT INFORMATION | 3 Months Ended
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Jan. 31, 2025
Segment Reporting [Abstract] |
SEGMENT INFORMATION | SEGMENT INFORMATION Our current reportable segments consist of B&I, M&D, Aviation, Education, and Technical Solutions, as further described below.
REPORTABLE SEGMENTS AND DESCRIPTIONS
B&I | B&I, our largest reportable segment, encompasses comprehensive facility solutions, including janitorial and maintenance, facilities engineering, and parking and transportation management to a diverse range of clients. Our expertise extends to commercial real estate properties, including corporate offices for high-tech clients, sports and entertainment venues, and both traditional hospitals and non-acute healthcare facilities. We typically provide these services pursuant to monthly fixed-price, square-foot, cost-plus, and parking arrangements (i.e., management reimbursement, leased location, or allowance) that are obtained through a competitive bid process as well as pursuant to work orders.
M&D | M&D provides integrated facility services, engineering, janitorial and maintenance, and other specialized solutions to a variety of manufacturing, distribution, and data center facilities. We typically provide these services pursuant to monthly fixed-price, square-foot, and cost-plus, that are obtained through a competitive bid process as well as pursuant to work orders.
Aviation | Aviation provides comprehensive support services to airlines and airports, including parking and transportation management, janitorial and maintenance services, passenger assistance, catering logistics, aircraft cabin maintenance, and transportation solutions. We typically provide services to clients in this segment under master services agreements. These agreements are typically re-bid upon renewal and are generally structured as monthly fixed-price, square-foot, cost-plus, parking, transaction-price, and hourly arrangements.
Education | Education delivers comprehensive facility services to public school districts, private schools, colleges, and universities. Our services include janitorial and custodial services, landscaping and grounds maintenance, facilities engineering, and parking management. These services are typically provided pursuant to monthly fixed-price, square-foot, and cost-plus arrangements that are obtained through either a competitive bid process or re-bid upon renewal as well as pursuant to work orders.
Technical Solutions | Technical Solutions specializes in comprehensive facility infrastructure services, including mechanical and electrical systems, EV charging station design, installation, and maintenance, as well as microgrid systems encompassing uninterrupted power supply (“UPS”) systems and power distribution units. These offerings are strategically leveraged for cross-selling across all our industry groups, both domestically and internationally. Contracts for this segment are generally structured as electrical contracting services for energy related products such as the installation of solar solutions, battery storage, distributed generation, and other specialized electric trade.
Financial Information by Reportable Segment
| Three Months Ended January 31, |  |
(in millions) | 2025 |  | 2024 |  |  |  |
Revenues |  |  |  |  |  |  |
Business & Industry | $ | 1,022.9 |  |  | $ | 1,033.1 |  |  |  |  |
Manufacturing & Distribution | 394.3 |  |  | 400.9 |  |  |  |  |
Aviation | 270.1 |  |  | 249.5 |  |  |  |  |
Education | 225.3 |  |  | 220.1 |  |  |  |  |
Technical Solutions | 202.3 |  |  | 165.9 |  |  |  |  |
Total Revenues | $ | 2,114.9 |  |  | $ | 2,069.6 |  |  |  |  |
Operating profit |  |  |  |  |  |  |
Business & Industry | $ | 79.4 |  |  | $ | 79.6 |  |  |  |  |
Manufacturing & Distribution | 39.4 |  |  | 41.3 |  |  |  |  |
Aviation | 12.2 |  |  | 9.7 |  |  |  |  |
Education | 14.0 |  |  | 12.7 |  |  |  |  |
Technical Solutions | 16.6 |  |  | 6.6 |  |  |  |  |
Corporate | (83.2) |  |  | (74.7) |  |  |  |  |
Adjustment for income from unconsolidated affiliates, included in Aviation and Technical Solutions | (0.8) |  |  | (1.3) |  |  |  |  |
Total operating profit | $ | 77.6 |  |  | $ | 74.1 |  |  |  |  |
Income from unconsolidated affiliates | 0.8 |  |  | 1.3 |  |  |  |  |
Interest expense | (22.9) |  |  | (21.3) |  |  |  |  |
Income before income taxes | $ | 55.5 |  |  | $ | 54.0 |  |  |  |  |
The accounting policies for our segments are the same as those disclosed within our significant accounting policies in Note 2, “Basis of Presentation and Significant Accounting Policies.” Our management evaluates the performance of each reportable segment based on its respective operating profit results, which include the allocation of certain centrally incurred corporate costs. Certain corporate costs not allocated to segments include information technology, human resources, executive and finance expenses, and legal costs and settlements. Additionally, share-based compensation, actuarial adjustments to self-insurance reserves related to prior years, acquisition and integration costs, and changes in fair values of contingent consideration are not allocated to segments. Management does not review asset information by segment, therefore we do not present assets in this note.

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- Definition The entire disclosure for reporting segments including data and tables. 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