LEASES - (Tables)

9 Months Ended

Jul. 31, 2020

Leases [Abstract]

Lease Assets And Liabilities

The following table presents the balance sheet classification of the Company’s lease assets and liabilities as of July 31, 2020:

(in millions)	Balance Sheet Classification	July 31, 2020
Lease Assets
Operating lease assets	Operating lease assets	$	318.1
Finance lease assets	Other long-term assets	5.0
Total lease assets		$	323.1
Lease Liabilities
Current operating lease liabilities	Current portion of operating lease liabilities	$	53.2
Current finance lease liabilities	Other current liabilities	1.8
Total current lease liabilities		55.0
Non-current operating lease liabilities	Operating lease liabilities	267.5
Non-current finance lease liabilities	Other long-term liabilities	3.2
Total non-current lease liabilities		270.7
Total lease liabilities		$	325.7

Components of Lease Expense

The following table presents the lease expense components for the three and nine months ended July 31, 2020:

	Three Months Ended July 31,		Nine Months Ended July 31,
(in millions)	2020		2020
Operating lease cost	$	17.2	$	50.0
Finance lease cost	0.4		1.1
Variable lease cost*	5.5		19.3
Total lease cost	$	23.1	$	70.4

^*Amount includes short-term lease costs.

The following table presents the weighted-average lease term and discount rate as of July 31, 2020:

Weighted-average remaining lease term (years):
Operating leases	11.3
Finance leases	3.8
Weighted-average discount rate:
Operating leases	3.61	%
Finance leases	3.33	%

The following table presents other required lease related information for the three and nine months ended July 31, 2020:

	Three Months Ended July 31,		Nine Months Ended July 31,
(in millions)	2020		2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows used for operating leases	$	16.9	$	52.2
Financing cash flows used for finance leases	0.3		1.0
Leased assets obtained in exchange for new operating lease liabilities	0.8		63.9
Leased assets obtained in exchange for new finance lease liabilities	0.1		0.4

In compliance with ASC 842, the Company must provide the prior year disclosures required under the previous lease guidance for comparative periods presented herein.

The table below contains information related to the Company’s rent expense as disclosed within the 10-K for the period ended October 31, 2019:

	Year Ended October 31,
(in millions)	2019		2018		2017
Rent Expense	$	86.2	$	47.1	$	41.0

The following table provides the Company’s minimum rent commitments under operating leases in the next five years and the remaining years thereafter as disclosed within the 10-K for the period ended October 31, 2019:

(in millions)	Operating Leases		Capital Leases
Year(s):
2020	$	64.8	$	1.8
2021	57.0		1.6
2022	48.7		1.3
2023	40.1		1.0
2024	31.6		0.6
Thereafter	117.5		0.3
Total	$	359.7	$	6.6

Maturities of Operating Lease Liabilities

Future maturity for the Company's lease liabilities, during the next five years, and in the aggregate for the years thereafter, are as follows:

(in millions)	Operating Leases		Finance Leases		Total expected payments
2020	$	66.7	$	1.4	$	68.1
2021	62.5		1.4		63.9
2022	54.7		1.2		55.9
2023	46.7		0.9		47.6
2024	38.6		0.5		39.1
Thereafter	172.1		0.3		172.4
Total lease payments	$	441.3	$	5.7	$	447.0
Less: Interest	(120.6)		(0.7)		(121.3)
Lease liabilities	$	320.7	$	5.0	$	325.7

Maturities of Financing Lease Liabilities

Future maturity for the Company's lease liabilities, during the next five years, and in the aggregate for the years thereafter, are as follows:

(in millions)	Operating Leases		Finance Leases		Total expected payments
2020	$	66.7	$	1.4	$	68.1
2021	62.5		1.4		63.9
2022	54.7		1.2		55.9
2023	46.7		0.9		47.6
2024	38.6		0.5		39.1
Thereafter	172.1		0.3		172.4
Total lease payments	$	441.3	$	5.7	$	447.0
Less: Interest	(120.6)		(0.7)		(121.3)
Lease liabilities	$	320.7	$	5.0	$	325.7

Schedule of Information Related to Company's Rent Expense

The table below contains information related to the Company’s rent expense as disclosed within the 10-K for the period ended October 31, 2019:

	Year Ended October 31,
(in millions)	2019		2018		2017
Rent Expense	$	86.2	$	47.1	$	41.0

Schedule of Company's Minimum Rent Commitments Under Operating and Capital Leases

The following table provides the Company’s minimum rent commitments under operating leases in the next five years and the remaining years thereafter as disclosed within the 10-K for the period ended October 31, 2019:

(in millions)	Operating Leases		Capital Leases
Year(s):
2020	$	64.8	$	1.8
2021	57.0		1.6
2022	48.7		1.3
2023	40.1		1.0
2024	31.6		0.6
Thereafter	117.5		0.3
Total	$	359.7	$	6.6