Leases (Tables)

12 Months Ended

Oct. 31, 2021

Leases [Abstract]

Leases on the Consolidated Condensed Balance Sheet

The following table presents information about leases on the Consolidated Balance Sheets:

October 31, (In millions)	2021			2020
Operating Leases
Operating lease right-of-use assets	$	257.0		$	260.2
Operating lease liabilities, current	35.7			33.3
Operating lease liabilities, non-current	231.7			236.8
Total operating lease liabilities	$	267.4		$	270.1
Weighted average remaining lease term (in years)	10.6			11.3
Weighted average discount rate	3		%	3		%

Schedule of lease cost

The following table presents information about lease expense, which is included in selling, general and administrative expenses in the Consolidated Statements of Income:

(In millions)	2021		2020
Operating lease expense	$	44.1	$	41.2
Short-term lease expense	0.9		4.4
Variable lease expense	$	0.4	$	1.8

The following table presents supplemental cash flow information about the Company’s leases:

(In millions)	2021		2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	37.4	$	40.6
Operating lease right-of-use assets obtained in exchange for lease obligations	$	26.5	$	17.7

Minimum rental payments required under operating leases

The minimum rental payments required under operating leases that have initial or remaining noncancellable lease terms in excess of one year as of October 31, 2021 are:

(In millions)
2022	$	42.5
2023	37.3
2024	31.9
2025	30.2
2026	29.4
Thereafter	146.3
Total lease payments	$	317.6
Less: interest	50.2
Present value of lease liabilities	$	267.4