Operating Leases

12 Months Ended

Oct. 31, 2024

Leases [Abstract]

Operating Leases

Note 2. Operating Leases

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

October 31, (In millions)	2024		2023
Operating Leases
Operating lease right-of-use assets	$	260.7	$	241.5
Operating lease liabilities, current	38.6		38.2
Operating lease liabilities, non-current	230.8		215.6
Total operating lease liabilities	$	269.4	$	253.8
Weighted-average remaining lease term (in years)	10.3		10.0
Weighted-average discount rate	4%		4%

Operating lease expense for the fiscal years ended October 31, 2024, 2023 and 2022 was $47.4 million, $48.1 million and $45.0 million.

Maturity of Lease Liabilities

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, 2024, are:

(In millions)
2025	48.6
2026	42.2
2027	37.8
2028	33.0
2029	28.5
Thereafter	148.1
Total lease payments	$	338.2
Less: interest	68.8
Present value of lease liabilities	$	269.4

Excluded from the above table are additional leases to expand manufacturing as well as research and development capacity that have not yet commenced. The undiscounted lease payments are estimated at $171 million for leases that will commence starting in fiscal 2025 with initial terms ranging from 20 to 25 years.