Fair Value Measurements

12 Months Ended

Oct. 31, 2025

Fair Value Disclosures [Abstract]

Fair Value Measurements

Note 11 — Fair value measurements

The inputs to the valuation techniques used to measure fair value are classified into the following categories:

Level 1: Quoted market prices in active markets for identical assets or liabilities.

Level 2: Observable market-based inputs or unobservable inputs that are corroborated by market data.

Level 3: Unobservable inputs that are not corroborated by market data.

The following tables present the classification of our assets and liabilities measured at fair value on a recurring basis:

2025	Total		Level 1		Level 2		Level 3
Net derivative contracts (1)	$	(55,367)	$	—	$	(55,367)	$	—
Deferred compensation plans (2)	$	(11,885)	$	—	$	(11,885)	$	—

2024	Total		Level 1		Level 2		Level 3
Net derivative contracts (1)	$	(16,388)	$	—	$	(16,388)	$	—
Deferred compensation plans (2)	$	(9,615)	$	—	$	(9,615)	$	—

(1) Derivative contracts are valued using an industry standard market approach, in which prices and other relevant information is generated by market transactions involving identical or comparable assets or liabilities. Refer to Note 12 for balance sheet classification of derivatives.

(2) Executive officers and other highly compensated employees may defer up to 100 percent of their salary and annual cash incentive compensation and for executive officers, up to 90 percent of their long-term incentive compensation, into various non-qualified deferred compensation plans. Deferrals can be allocated to various market performance measurement funds. Changes in the value of compensation deferred under these plans are recognized each period based on the fair value of the underlying measurement funds.

The carrying amounts and fair values of financial instruments, other than cash and cash equivalents, receivables and accounts payable, are shown in the table below. The carrying values of cash and cash equivalents, receivables and accounts payable approximate fair value due to the short-term nature of these instruments.

	2025				2024
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Long-term debt (including current portion)	$	1,996,254	$	2,038,869	$	2,186,840	$	2,219,414

Long-term debt is valued by discounting future cash flows at currently available rates for borrowing arrangements with similar terms and conditions, which are considered to be Level 2 inputs under the fair value hierarchy. The carrying amount of long-term debt is shown net of unamortized debt issuance costs and bond discounts as described in the Long-term debt Note.