Long-term debt

3 Months Ended

Jan. 31, 2023

Debt Disclosure [Abstract]

Long-term debt

Long-term debt

A summary of long-term debt is as follows:

	January 31, 2023		October 31, 2022
Revolving credit agreement, due 2024	$	250,000	$	—
Senior notes, due 2023-2025	55,500		55,500
Senior notes, due 2023-2027	71,429		71,429
Senior notes, due 2023-2030	350,000		350,000
Euro loan, due 2023	287,851		261,893
Notes payable and other	2,453		—
	1,017,233		738,822
Less current maturities and notes payable	420,947		392,537
Less unamortized debt issuance costs	1,120		965
Long-term maturities	$	595,166	$	345,320

Revolving credit agreement, due 2024 — In April 2019, we entered into a $850,000 unsecured multi-currency credit facility with a group of banks, which amended, restated and extended our then existing syndicated revolving credit agreement. This facility has a five-year term and includes a $75,000 subfacility for swing-line loans. It expires in April 2024. The weighted-average interest rate at January 31, 2023 was 5.07%.

Senior notes, due 2023-2025 — These unsecured fixed-rate notes entered into in 2012 with a group of insurance companies had a remaining weighted-average life of 1.21 years. The weighted-average interest rate at January 31, 2023 was 3.10%.

Senior notes, due 2023-2027 — These unsecured fixed-rate notes entered into in 2015 with a group of insurance companies had a remaining weighted-average life of 2.19 years. The weighted-average interest rate at January 31, 2023 was 3.10%.

Senior notes, due 2023-2030 — These unsecured fixed-rate notes entered into in 2018 with a group of insurance companies had a remaining weighted-average life of 2.79 years. The weighted-average interest rate at January 31, 2023 was 3.90%.  

Euro loan, due 2023 — In March 2020, we amended, restated and extended the term of our existing euro term loan facility with Bank of America Merrill Lynch International Limited. The interest rate is variable based on the EURIBOR rate. The term loan agreement provides for the following term loans due in two tranches: €115,000 is due in March 2023 and an additional €150,000 that was drawn down in March 2020 is due in March 2023. The weighted average interest rate at January 31, 2023 was 2.12%.

Term loan, due 2024 — In January 2023, we entered into a $200,000 unsecured term loan facility. This facility has a 1.25 year term and expires in April 2024. At January 31, 2023, we had no balance outstanding under this facility.

We were in compliance with all covenants at January 31, 2023 and the amount we could borrow would not have been limited by any debt covenants.