Income Taxes (Tables)

12 Months Ended

Oct. 31, 2019

Income Tax Disclosure [Abstract]

Schedule of Provision for Income Taxes

The provision for income taxes consists of the following:

	Year Ended October 31,
(in millions)	2019			2018			2017
Current
Federal	$	26.6		$	74.0		$	33.0
State and local	6.1			8.0			6.0
Non-U.S.	35.9			36.1			25.9
	68.6			118.1			64.9
Deferred
Federal	2.1			(45.2		)	4.5
State and local	0.9			0.8			(2.0		)
Non-U.S.	(0.9		)	(0.4		)	(0.2		)
	2.1			(44.8		)	2.3
	$	70.7		$	73.3		$	67.2

Schedule of Reconciliation of Effective Income Tax Rate

The following is a reconciliation of the provision for income taxes based on the federal statutory rate to the Company’s effective income tax rate:

	Year Ended October 31,
	2019		2018		2017
Federal statutory rate	21.00	%	23.33	%	35.00	%
Impact of foreign tax rate differential	0.10	%	(0.57	)%	(9.86	)%
State and local taxes, net of federal tax benefit	1.99	%	2.38	%	1.35	%
Net impact of changes in valuation allowances	2.41	%	5.65	%	20.74	%
Non-deductible write-off and impairment of goodwill and other intangible assets	0.29	%	0.06	%	(0.02	)%
Unrecognized tax benefits	(0.76	)%	3.41	%	(2.00	)%
Permanent book-tax differences	(0.87	)%	(4.03	)%	(15.71	)%
Withholding taxes	2.43	%	1.84	%	1.88	%
Tax Reform Act (1)	(0.19	)%	(7.31	)%	—	%
Other items, net	0.58	%	(0.33	)%	2.20	%
	26.98	%	24.43	%	33.58	%

⁽¹⁾Reflects the net impact of the change in deferred tax assets and liabilities and the estimated transition tax resulting from the Tax Reform Act.

Schedule of Significant Components of Company's Deferred Tax Assets and Liabilities

The components of the Company’s deferred tax assets and liabilities as of October 31 for the years indicated were as follows:

(in millions)	2019			2018
Deferred Tax Assets
Net operating loss and other carryforwards	$	206.9		$	122.8
Foreign tax credits	21.5			20.7
Pension liabilities	24.1			12.2
Incentive liabilities	12.0			12.1
Workers compensation accruals	12.1			6.6
Inventories	6.7			4.9
State income taxes	9.4			4.5
Deferred compensation	2.3			2.2
Other	41.2			16.5
Total Deferred Tax Assets	336.2			202.5
Valuation allowance	(175.0		)	(157.2		)
Net Deferred Tax Assets	$	161.2		$	45.3
Deferred Tax Liabilities
Properties, plants and equipment	$	152.7		$	78.9
Timberland transactions	74.2			73.5
Goodwill and other intangible assets	207.5			49.2
Other	23.9			15.6
Total Deferred Tax Liabilities	458.3			217.2
Net Deferred Tax Liability	$	297.1		$	171.9

Schedule of Reconciliation of Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:

(in millions)	2019			2018			2017
Balance at November 1	$	36.2		$	26.8		$	29.7
Increases in tax positions for prior years	5.1			7.8			2.1
Decreases in tax positions for prior years	(0.7		)	(1.4		)	(1.8		)
Increases in tax positions for current years	4.3			8.0			6.7
Settlements with taxing authorities	(3.6		)	—			(7.4		)
Lapse in statute of limitations	(2.0		)	(3.6		)	(4.6		)
Currency translation	(0.5		)	(1.4		)	2.1
Balance at October 31	$	38.8		$	36.2		$	26.8