Property, Plant and Equipment

6 Months Ended

Apr. 30, 2024

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

Note 5. Property, Plant and Equipment

Property, plant and equipment consisted of the following:

	April 30, 2024			October 31, 2023
Land & land improvements	$	20.7		$	19.2
Buildings & improvements		109.7			111.7
Machinery & equipment		104.6			107.2
Computer hardware & software		67.8			65.0
Office furniture & fixtures		6.1			5.5
Construction in process		5.8			16.4
		314.7			325.0
Less: accumulated depreciation		(164.6	)		(165.5	)
Total property, plant and equipment, net	$	150.1		$	159.5

Depreciation expense was $5.9 million and $5.5 million for the three months ended April 30, 2024 and April 30, 2023, respectively, and $11.8 million and $11.0 million for the six months ended April 30, 2024 and April 30, 2023, respectively. In connection with the discontinuation of manufacturing operations at the Company's ElDorado National (California) (“ENC”) facility, the Company recorded impairment charges of property, plant, and equipment of $4.4 million for the six months ended April 30, 2024, which were based on Level 3 inputs as defined by Accounting Standards Codification (“ASC”) 820, Fair Value Measurements. Refer to Note 8, Restructuring and Other Related Charges, for further details.