INCOME TAXES (Tables)

11 Months Ended

Sep. 30, 2025

Income Tax Disclosure [Abstract]

Schedule of Provision for Income Taxes

The provision for income taxes consists of the following:

	11 Months		12 Months		12 Months
	September 30,		October 31,		October 31,
Year Ended (in millions)	2025		2024		2023
Current
Federal	$	21.8	$	41.2	$	61.7
State and local	11.1		7.4		15.6
Non-U.S.	60.2		59.8		49.1
Total Current	93.1		108.4		126.4
Deferred
Federal	(40.0)		(61.5)		(18.8)
State and local	2.0		(12.7)		(8.6)
Non-U.S.	9.7		(12.0)		(0.9)
Total Deferred	(28.3)		(86.2)		(28.3)
Tax expense	$	64.8	$	22.2	$	98.1

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:

	11 Months		12 Months		12 Months
	September 30,		October 31,		October 31,
Year Ended	2025		2024		2023
Federal statutory rate	21.00	%	21.00	%	21.00	%
Impact of foreign tax rate differential	6.30	%	1.43	%	2.22	%
State and local taxes, net of federal tax benefit	(2.10)	%	(1.72)	%	1.12	%
Net impact of changes in valuation allowances	11.00	%	(3.76)	%	(2.76)	%
Permanent book-tax differences	9.49	%	6.46	%	(0.32)	%
Withholding taxes	11.10	%	5.83	%	3.68	%
Tax credits	(6.90)	%	(5.53)	%	(0.17)	%
Impact of intangible property transfers	—	%	(17.45)	%	—	%
Unrecognized tax benefits	10.90	%	0.37	%	0.05	%
Other items, net	1.70	%	1.25	%	(0.07)	%
Company’s effective income tax rate	62.49	%	7.88	%	24.75	%

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 September 30 and October 31 for the years indicated were as follows:

	September 30,		October 31,
(in millions)	2025		2024
Deferred tax assets
Net operating loss and other carryforwards	$	130.0	$	126.5
Incentive liabilities	20.2		20.5
Operating lease liabilities	44.7		68.1
Other reserves	13.5		12.5
Research and development expenses	64.1		56.7
Other	77.6		70.3
Total deferred tax assets	350.1		354.6
Valuation allowance	(113.3)		(87.4)
Net deferred tax assets	$	236.8	$	267.2
Deferred tax liabilities
Properties, plants and equipment	$	141.8	$	181.1
Operating lease assets	44.7		68.1
Timberland transactions	53.1		52.7
Goodwill and other intangible assets	158.1		163.2
Undistributed profits of non-U.S. subsidiaries	29.9		25.3
Pension liabilities	7.8		8.9
Other	25.1		26.1
Total deferred tax liabilities	460.5		525.4
Net deferred tax liability	$	223.7	$	258.2

Schedule of Unrecognized Tax Benefits Roll Forward

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

(in millions)	2025		2024		2023
Balance of unrecognized tax benefit at beginning of year	$	25.5	$	23.4	$	24.3
Increases in tax positions for prior years	6.9		1.7		0.6
Increases in tax positions for current years	3.5		3.9		4.1
Lapse in statute of limitations	(2.5)		(3.6)		(4.6)
Currency translation	1.7		0.1		(1.0)
Balance of unrecognized tax benefit at end of year	$	35.1	$	25.5	$	23.4