INCOME TAXES (Tables)

12 Months Ended

Oct. 31, 2023

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)	2023		2022		2021
Current
Federal	$	77.4	$	54.6	$	45.0
State and local	19.6		19.9		15.5
Non-U.S.	49.1		49.2		56.3
Total Current	146.1		123.7		116.8
Deferred
Federal	(18.8)		12.5		(33.0)
State and local	(8.6)		(6.6)		(9.9)
Non-U.S.	(0.9)		7.5		(4.3)
Total Deferred	(28.3)		13.4		(47.2)
Tax expense	$	117.8	$	137.1	$	69.6

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,
	2023		2022		2021
Federal statutory rate	21.00	%	21.00	%	21.00	%
Impact of foreign tax rate differential	1.78	%	2.03	%	0.70	%
State and local taxes, net of federal tax benefit	1.71	%	2.01	%	0.93	%
Net impact of changes in valuation allowances	(2.21)	%	(1.05)	%	(2.57)	%
Permanent book-tax differences	(0.25)	%	1.60	%	0.86	%
Withholding taxes	2.95	%	2.33	%	2.86	%
Tax credits	(1.40)	%	(0.99)	%	(1.57)	%
Capital losses	—	%	—	%	(5.70)	%
Other items, net	0.23	%	(0.84)	%	(1.99)	%
Company’s effective income tax rate	23.81	%	26.09	%	14.52	%

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)	2023		2022
Deferred tax assets
Net operating loss and other carryforwards	$	104.9	$	101.8
Incentive liabilities	18.6		28.6
Operating lease liabilities	70.3		65.5
Other reserves	16.0		13.0
Research and development expenses	29.7		—
Other	45.4		52.8
Total deferred tax assets	284.9		261.7
Valuation allowance	(97.3)		(105.4)
Net deferred tax assets	$	187.6	$	156.3
Deferred tax liabilities
Properties, plants and equipment	$	157.2	$	138.4
Operating lease assets	70.3		65.5
Timberland transactions	51.6		51.8
Goodwill and other intangible assets	150.6		174.0
Pension liabilities	10.6		8.4
Other	50.0		51.7
Total deferred tax liabilities	490.3		489.8
Net deferred tax liability	$	302.7	$	333.5

Schedule of Reconciliation of Unrecognized Tax Benefits

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

(in millions)	2023		2022		2021
Balance of unrecognized tax benefit at November 1	$	24.3	$	31.0	$	36.0
Increases in tax positions for prior years	0.6		0.2		1.2
Increases in tax positions for current years	4.1		5.9		1.7
Lapse in statute of limitations	(4.6)		(11.4)		(8.0)
Currency translation	(1.0)		(1.4)		0.1
Balance at October 31	$	23.4	$	24.3	$	31.0