Debt	12 Months Ended
Oct. 31, 2020
Debt [Abstract]
Debt	11.Debt 2027 Senior Notes During fiscal 2017, the Company issued $300.0 million in aggregate principal amount of 3.5 percent ten-year senior notes due April 6, 2027. Interest is payable semi-annually in arrears on April 6th and October 6th of each year. At October 31, 2020 and 2019, the carrying value of the 2027 Senior Notes was $297.5 million and $297.2 million, respectively. The 2027 Senior Notes are unsecured and unsubordinated obligations of the Company. There are no covenants associated with the 2027 Senior Notes. 2023 Senior Notes During fiscal 2013, the Company issued $325.0 million in aggregate principal amount of 3.625 percent ten-year senior notes due June 15, 2023. Interest is payable semi-annually in arrears on June 15th and December 15th of each year. At October 31, 2020 and 2019, the carrying value of the 2023 Senior Notes was $323.8 million and $323.3 million, respectively. The 2023 Senior Notes are unsecured and unsubordinated obligations of the Company. There are no covenants associated with the 2023 Senior Notes. Corporate credit facility The Company entered into a $300.0 million unsecured revolving credit facility on December 11, 2018. The credit facility has a five-year term, expiring on December 11, 2023. In accordance with and subject to the terms and conditions of this facility, the Company may borrow up to the initial amount of $300.0 million committed by the lenders at LIBOR or LIBOR-successor benchmark-based rates of interest, as applicable, which vary depending on the credit ratings of the Company. Accrued interest on any borrowings is payable quarterly in arrears and on the date of repayment. Subject to the terms and conditions of the credit facility, the amount available for borrowing may be increased up to $400.0 million through additional commitments by existing lenders or the addition of one or more new lenders to the syndicate. The credit facility is unsecured, contains financial covenants with respect to leverage and interest coverage, and requires the Company to pay an annual commitment fee on any unused portion. The Company borrowed $300.0 million from this credit facility during the second quarter of fiscal 2020 at the onset of the COVID-19 pandemic to demonstrate the Company’s ability to access incremental liquidity if needed. Such borrowings were fully repaid prior to the end of the Company’s second fiscal quarter. The Company recognized interest expense of $0.5 million attributable to borrowings under this credit facility during fiscal 2020. As of October 31, 2020 and 2019, the Company had no borrowings outstanding under its credit facility.

Debt

12 Months Ended

Oct. 31, 2020

11.Debt

2027 Senior Notes

During fiscal 2017, the Company issued $300.0 million in aggregate principal amount of 3.5 percent ten-year senior notes due April 6, 2027. Interest is payable semi-annually in arrears on April 6th and October 6th of each year. At October 31, 2020 and 2019, the carrying value of the 2027 Senior Notes was $297.5 million and $297.2 million, respectively. The 2027 Senior Notes are unsecured and unsubordinated obligations of the Company. There are no covenants associated with the 2027 Senior Notes.

2023 Senior Notes

During fiscal 2013, the Company issued $325.0 million in aggregate principal amount of 3.625 percent ten-year senior notes due June 15, 2023. Interest is payable semi-annually in arrears on June 15th and December 15th of each year. At October 31, 2020 and 2019, the carrying value of the 2023 Senior Notes was $323.8 million and $323.3 million, respectively. The 2023 Senior Notes are unsecured and unsubordinated obligations of the Company. There are no covenants associated with the 2023 Senior Notes.

Corporate credit facility

The Company entered into a $300.0 million unsecured revolving credit facility on December 11, 2018. The credit facility has a five-year term, expiring on December 11, 2023. In accordance with and subject to the terms and conditions of this facility, the Company may borrow up to the initial amount of $300.0 million committed by the lenders at LIBOR or LIBOR-successor benchmark-based rates of interest, as applicable, which vary depending on the credit ratings of the Company. Accrued interest on any borrowings is payable quarterly in arrears and on the date of repayment. Subject to the terms and conditions of the credit facility, the amount available for borrowing may be increased up to $400.0 million through additional commitments by existing lenders or the addition of one or more new lenders to the syndicate. The credit facility is unsecured, contains financial covenants with respect to leverage and interest coverage, and requires the Company to pay an annual commitment fee on any unused portion.

The Company borrowed $300.0 million from this credit facility during the second quarter of fiscal 2020 at the onset of the COVID-19 pandemic to demonstrate the Company’s ability to access incremental liquidity

if needed. Such borrowings were fully repaid prior to the end of the Company’s second fiscal quarter. The Company recognized interest expense of $0.5 million attributable to borrowings under this credit facility during fiscal 2020. As of October 31, 2020 and 2019, the Company had no borrowings outstanding under its credit facility.