INCOME TAXES (Tables)

12 Months Ended

Oct. 31, 2022

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)	2022		2021		2020
Current
Federal	$	54.6	$	45.0	$	(9.7)
State and local	19.9		15.5		3.3
Non-U.S.	49.2		56.3		53.0
Total Current	123.7		116.8		46.6
Deferred
Federal	12.5		(33.0)		7.9
State and local	(6.6)		(9.9)		10.2
Non-U.S.	7.5		(4.3)		(1.4)
Total Deferred	13.4		(47.2)		16.7
Tax expense	$	137.1	$	69.6	$	63.3

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,
	2022		2021		2020
Federal statutory rate	21.00	%	21.00	%	21.00	%
Impact of foreign tax rate differential	2.03	%	0.70	%	0.49	%
State and local taxes, net of federal tax benefit	2.01	%	0.93	%	5.71	%
Net impact of changes in valuation allowances	(1.05)	%	(2.57)	%	(15.23)	%
Non-deductible write-off and impairment of goodwill and other intangible assets	—	%	—	%	4.02	%
Permanent book-tax differences	1.60	%	0.86	%	16.56	%
Withholding taxes	2.33	%	2.86	%	5.28	%
Capital losses	—	%	(5.70)	%	(6.34)	%
Other items, net	(1.83)	%	(3.56)	%	2.52	%
Company's effective income tax rate	26.09	%	14.52	%	34.01	%

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)	2022		2021
Deferred tax assets
Net operating loss and other carryforwards	$	101.8	$	149.0
Incentive liabilities	28.6		16.2
Workers compensation accruals	9.9		10.5
Inventories	3.6		6.4
Operating lease liabilities	65.5		74.4
State income taxes	10.3		11.6
Other reserves	13.0		18.4
Deferred compensation	2.1		2.2
Other	26.9		36.1
Total deferred tax assets	261.7		324.8
Valuation allowance	(105.4)		(132.7)
Net deferred tax assets	$	156.3	$	192.1
Deferred tax liabilities
Properties, plants and equipment	$	138.4	$	134.9
Operating lease assets	65.5		74.4
Timberland transactions	51.8		51.0
Goodwill and other intangible assets	174.0		190.2
Pension liabilities	8.4		4.5
Other	51.7		38.4
Total deferred tax liabilities	489.8		493.4
Net deferred tax liability	$	333.5	$	301.3

Schedule of Reconciliation of Unrecognized Tax Benefits

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

(in millions)	2022		2021		2020
Balance of unrecognized tax benefit at November 1	$	31.0	$	36.0	$	38.8
Increases in tax positions for prior years	0.2		1.2		10.1
Decreases in tax positions for prior years	—		—		(10.5)
Increases in tax positions for current years	5.9		1.7		2.6
Lapse in statute of limitations	(11.4)		(8.0)		(5.5)
Currency translation	(1.4)		0.1		0.5
Balance at October 31	$	24.3	$	31.0	$	36.0