Fair Value (Tables)

9 Months Ended

Jul. 31, 2021

Schedule of fair value of financial assets and liabilities

The tables below, set forth by level, presents the Company’s financial assets and liabilities, excluding accrued interest components that were accounted for at fair value on a recurring basis as of July 31, 2021 and October 31, 2020. The tables exclude cash on hand and assets and liabilities that are measured at historical cost or any basis other than fair value. As of July 31, 2021 and October 31, 2020, the Company held $289.7 million and $239.6 million, respectively, of cash that was excluded from the tables below.


	July 31, 2021
	Fair Value measurement at Reporting Date using:
	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Total
Assets
Cash equivalents:
Available-for-sale:
Government and institutional money market funds	$	810,935	$	—	$	810,935
Corporate obligations (1)	—		380,050		380,050














Other assets:
Deferred compensation plan investments	68,383		—		68,383


Total assets measured at fair value	$	879,318	$	380,050	$	1,259,368
Liabilities

Forward foreign currency exchange contracts (2)	$	—	$	4,573	$	4,573
Interest rate derivatives	—		181,189		181,189
Total liabilities measured at fair value	$	—	$	185,762	$	185,762

(1)The amortized cost of the Company’s investments classified as available-for-sale as of July 31, 2021 was $380.0 million.

(2)The Company has master netting arrangements by counterparty with respect to derivative contracts. See Note 9, Derivatives, in these Notes to Condensed Consolidated Financial Statements for more information related to the Company's master netting arrangements.


	October 31, 2020
	Fair Value measurement at Reporting Date using:
	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Total
Assets
Cash equivalents:
Available-for-sale:
Government and institutional money market funds	$	816,253	$	—	$	816,253









Other assets:
Forward foreign currency exchange contracts (1)	—		5,427		5,427
Deferred compensation plan investments	52,956		—		52,956

Total assets measured at fair value	$	869,209	$	5,427	$	874,636
Liabilities


Interest rate derivatives	$	—	$	214,586	$	214,586
Total liabilities measured at fair value	$	—	$	214,586	$	214,586

(1)The Company has master netting arrangements by counterparty with respect to derivative contracts. See Note 9, Derivatives, in these Notes to Condensed Consolidated Financial Statements for more information related to the Company's master netting arrangements.

Schedule of debt

The table below presents the estimated fair value of certain financial instruments not recorded at fair value on a recurring basis. The carrying amounts of the term loan approximates fair value. The term loan is classified as a Level 2 measurement according to the fair value hierarchy. The fair values of the senior unsecured notes are obtained from broker prices and are classified as Level 1 measurements according to the fair value hierarchy.


	July 31, 2021				October 31, 2020
	Principal Amount Outstanding		Fair Value		Principal Amount Outstanding		Fair Value
3-Year term loan, due March 2022	$	925,000	$	925,000	$	925,000	$	925,000
2.50% Senior unsecured notes, due December 2021	400,000		403,072		400,000		$	408,565
2.875% Senior unsecured notes, due June 2023	500,000		523,041		500,000		$	526,855
3.125% Senior unsecured notes, due December 2023	550,000		583,885		550,000		$	590,177
2.95% Senior unsecured notes, due April 2025	400,000		429,643		400,000		$	434,919
3.90% Senior unsecured notes, due December 2025	850,000		953,017		850,000		$	969,033
3.50% Senior unsecured notes, due December 2026	900,000		1,004,709		900,000		$	1,017,505
4.50% Senior unsecured notes, due December 2036	250,000		300,420		250,000		$	298,153
5.30% Senior unsecured notes, due December 2045	400,000		549,646		400,000		$	538,788
Total debt	$	5,175,000	$	5,672,433	$	5,175,000	$	5,708,995