LONG-TERM DEBT

9 Months Ended

Jul. 31, 2022

Debt Disclosure [Abstract]

Long-term Debt [Text Block]

LONG-TERM DEBT

    Long-term debt consists of the following (in thousands):

	July 31, 2022	October 31, 2021
Borrowings under revolving credit facility	$230,000	$225,000
Finance leases and notes payable	15,757	11,498
	245,757	236,498
Less: Current maturities of long-term debt	(1,734)	(1,515)
	$244,023	$234,983

The Company's borrowings under its revolving credit facility mature in fiscal 2025 as discussed further below. As of July 31, 2022 and October 31, 2021, the weighted average interest rate on borrowings under the Company's revolving credit facility was 3.3% and 1.1%, respectively. The revolving credit facility contains both financial and non-financial covenants. As of July 31, 2022, the Company was in compliance with all such covenants.

On April 7, 2022, the Company entered into an amendment to extend the maturity date of its Revolving Credit Facility Agreement ("Credit Facility") by one year to November 2024 and to replace the Eurocurrency Rate with Adjusted Term SOFR as an election in which borrowings under the Credit Facility accrue interest, as such capitalized terms are defined in the Credit Facility.