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Property, Plant and Equipment
 3 Months Ended
Jan. 31, 2024
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment

Note 5. Property, Plant and Equipment

Property, plant and equipment consisted of the following:

 

 

January 31,
2024

 

 

October 31,
2023

 

Land & land improvements

 

$

18.7

 

 

$

19.2

 

Buildings & improvements

 

 

106.1

 

 

 

111.7

 

Machinery & equipment

 

 

99.7

 

 

 

107.2

 

Computer hardware & software

 

 

63.0

 

 

 

65.0

 

Office furniture & fixtures

 

 

5.7

 

 

 

5.5

 

Construction in process

 

 

20.7

 

 

 

16.4

 

 

 

313.9

 

 

 

325.0

 

Less: accumulated depreciation

 

 

(160.8

)

 

 

(165.5

)

Total property, plant and equipment, net

 

$

153.1

 

 

$

159.5

 

Depreciation expense was $5.9 million and $5.5 million for the three months ended January 31, 2024, and January 31, 2023, respectively. In connection with the discontinuation of manufacturing operations at ENC, the Company recorded impairment charges of property, plant, and equipment of $4.4 million for the three months ended January 31, 2024, which were based on Level 3 inputs as defined by ASC 820. Refer to Note 8, Restructuring and Other Related Charges, for further details.