REDEEMABLE NONCONTROLLING INTERESTS

12 Months Ended

Oct. 31, 2023

Redeemable noncontrolling interests related to joint ventures are held by the respective noncontrolling interest owners. The holders of these interests share in the profits and losses of these entities on a pro-rata basis with the Company. However, the noncontrolling interest owners have the right to put all or a portion of those noncontrolling interests to the Company at a formulaic price after a set period of time, specific to each agreement.

Redeemable noncontrolling interests are reflected in the consolidated balance sheets at redemption value. The following table provides the rollforward of the redeemable noncontrolling interest for the years ended October 31, 2023 and 2022:


(in millions)	Redeemable Noncontrolling Interest
Balance as of October 31, 2021	$	24.1
Current period mark to redemption value	(5.5)

Repurchase of redeemable shareholder interest	(1.9)
Redeemable noncontrolling interest share of income	0.1
Dividends to redeemable noncontrolling interest and other	(1.0)
Balance as of October 31, 2022	15.8
Current period mark to redemption value	(0.1)
Repurchase of redeemable shareholder interest	(4.6)
Acquisition of redeemable shareholder interest	113.0
Redeemable noncontrolling interest share of income	2.7
Dividends to redeemable noncontrolling interest and other	(1.5)
Balance as of October 31, 2023	$	125.3