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Financial Derivatives and Hedging (Tables)
 12 Months Ended
Oct. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of outstanding derivatives designated as hedging instruments
As of October 31, 2020, the Company had the following outstanding derivatives designated as hedging instruments:
(In millions, except for number of instruments)
Number of Instruments
 
Notional Value
Interest Rate Swap Contracts

5
 
$
1,400
Schedule of fair values of derivative instruments in condensed consolidated balance sheets
The following table summarizes the fair values of derivative instruments as of the periods indicated and the line items in the accompanying consolidated balance sheets where the instruments are recorded:
 
 
Derivative Liabilities
(In millions)
 
 
 
October 31, 2020
Derivatives designated as cash flow hedges
 
Balance sheet location
 
 
Interest rate swap contracts
 
Other current liabilities
 
$
0.6

Interest rate swap contracts
 
Other non-current liabilities
 
16.5

 
 
 
 
$
17.1
Schedule of derivative instruments recognized in condensed consolidated statements of income
The following table summarizes the amounts recognized with respect to our derivative instruments within the accompanying consolidated statements of income:
Periods Ended October 31,
 
 
 
 
 
 
 
(In millions)
 
 
2020
 
2019
 
2018
Derivatives designated as cash flow hedges
 
Location of Loss Recognized on Derivatives
 
 
 
 
 
Interest rate swap contracts
 
Interest expense
$
3.7

 
$
—

 
$
—
Schedule of changes in accumulated other comprehensive income

Analysis of Changes in Accumulated Other Comprehensive Income (Loss):
(In millions)
Foreign Currency Translation Adjustment
 
Derivatives
 
Minimum Pension Liability
 
Total
Balance at October 31, 2017
$
(353.7
)
 
$
—

 
$
(21.6
)
 
$
(375.3
)
Gross change in value
(58.5
)
 
—

 
11.0

 
(47.5
)
Tax effect
—

 
—

 
(3.1
)
 
(3.1
)
ASU 2018-02 adoption (1)
—

 
—

 
(4.8
)
 
(4.8
)
Balance at October 31, 2018
$
(412.2
)
 
$
—

 
$
(18.5
)
 
$
(430.7
)
Gross change in value
$
9.0

 
$
—

 
$
(33.4
)
 
$
(24.4
)
Tax effect
—

 
—

 
8.0

 
8.0

Balance at October 31, 2019
$
(403.2
)
 
$
—

 
$
(43.9
)
 
$
(447.1
)
Gross change in value
$
0.9

 
$
(17.1
)
 
$
(16.8
)
 
$
(33.0
)
Tax effect
—

 
4.1

 
4.0

 
8.1

Balance at October 31, 2020
$
(402.3
)
 
$
(13.0
)
 
$
(56.7
)
 
$
(472.0
)


(1)
Represents reclassification to retained earnings from adoption of ASU 2018-02.
The following table details the changes in accumulated other comprehensive income:
(In millions)
 
Amount
Beginning balance gain / (loss) as of October 31, 2019
 
$
—

Amount recognized in other comprehensive income on interest rate swap contracts (net of tax of $5.0 million)
 
(20.8
)
Amount reclassified from other comprehensive income into earnings, gross (net of tax of $0.9 million)
 
3.7

Ending balance loss as of October 31, 2020
 
$
(17.1
)