INCOME TAXES (Tables)

12 Months Ended

Oct. 31, 2021

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)	2021		2020		2019
Current
Federal	$	45.0	$	(9.7)	$	26.6
State and local	15.5		3.3		6.1
Non-U.S.	56.3		53.0		35.9
Total Current	116.8		46.6		68.6
Deferred
Federal	(33.0)		7.9		2.1
State and local	(9.9)		10.2		0.9
Non-U.S.	(4.3)		(1.4)		(0.9)
Total Deferred	(47.2)		16.7		2.1
Tax expense	$	69.6	$	63.3	$	70.7

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,
	2021		2020		2019
Federal statutory rate	21.00	%	21.00	%	21.00	%
Impact of foreign tax rate differential	0.70	%	0.49	%	0.10	%
State and local taxes, net of federal tax benefit	0.93	%	5.71	%	1.99	%
Net impact of changes in valuation allowances	(2.57)	%	(15.23)	%	2.41	%
Non-deductible write-off and impairment of goodwill and other intangible assets	—	%	4.02	%	0.29	%
Return to provision	(2.73)	%	(1.85)	%	(1.27)	%
Permanent book-tax differences	0.86	%	16.56	%	(0.87)	%
Withholding taxes	2.86	%	5.28	%	2.43	%
Tax credits	(1.56)	%	(2.60)	%	(3.33)	%
Capital losses	(5.70)	%	(6.34)	%	—	%
Other items, net	0.73	%	6.97	%	4.23	%
Company's effective income tax rate	14.52	%	34.01	%	26.98	%

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)	2021		2020
Deferred tax assets
Net operating loss and other carryforwards	$	149.0	$	179.3
Pension liabilities	—		12.9
Incentive liabilities	16.2		8.2
Workers compensation accruals	10.5		10.0
Inventories	6.4		7.8
Operating lease liabilities	74.4		76.9
State income taxes	11.6		10.2
Other reserves	18.4		21.0
Deferred compensation	2.2		2.4
Other	36.1		28.5
Total deferred tax assets	324.8		357.2
Valuation allowance	(132.7)		(146.4)
Net deferred tax assets	$	192.1	$	210.8
Deferred tax liabilities
Properties, plants and equipment	$	134.9	$	158.1
Operating lease assets	74.4		76.9
Timberland transactions	51.0		74.2
Goodwill and other intangible assets	190.2		200.2
Pension liabilities	4.5		—
Other	38.4		29.3
Total deferred tax liabilities	493.4		538.7
Net deferred tax liability	$	301.3	$	327.9

Schedule of Reconciliation of Unrecognized Tax Benefits

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

(in millions)	2021		2020		2019
Balance of unrecognized tax benefit at November 1	$	36.0	$	38.8	$	36.2
Increases in tax positions for prior years	1.2		10.1		5.1
Decreases in tax positions for prior years	—		(10.5)		(0.7)
Increases in tax positions for current years	1.7		2.6		4.3
Settlements with taxing authorities	—		—		(3.6)
Lapse in statute of limitations	(8.0)		(5.5)		(2.0)
Currency translation	0.1		0.5		(0.5)
Balance at October 31	$	31.0	$	36.0	$	38.8