Stockholders' Equity

12 Months Ended

Oct. 31, 2022

Stockholders' Equity Note [Abstract]

Stockholders' Equity

10 Stockholders' Equity

Stock Repurchase Program

On December 3, 2015, the company's Board authorized the repurchase of 8,000,000 shares of the company's common stock in open-market or in privately negotiated transactions. On December 4, 2018, the company's Board authorized the repurchase of up to an additional 5,000,000 shares of common stock in open-market or in privately negotiated transactions under the authorized stock repurchase program. During fiscal 2022 and 2021, the company paid $140.0 million and $302.3 million to repurchase 1,525,856 and 2,989,794 shares, respectively, under the authorized repurchase program; and as a result of the fiscal 2021 repurchase activity, no shares remained under the December 3, 2015 tranche of authorized shares under the company's stock repurchase program as of October 31, 2021. As of October 31, 2022, 2,526,606 shares remained available for repurchase under the December 4, 2018 tranche of authorized shares under the company's stock repurchase program. This program has no expiration date but may be terminated by the Board at any time. Shares of the company's common stock surrendered by employees to satisfy minimum tax withholding obligations upon vesting of certain stock-based compensation awards are not a part of this program.

On December 13, 2022, the company's Board authorized the repurchase of up to an additional 5,000,000 shares of common stock in open-market or in privately negotiated transactions under the authorized stock repurchase program. This program has no expiration date but may be terminated by the Board at any time.

Treasury Shares

Treasury shares generally consist of shares of the company's common stock repurchased under the company's Board authorized stock repurchase program. The company values treasury shares on an average cost basis. As of October 31, 2022, the company had a total of 23,774,518 treasury shares at a total average cost of $1,715.0 million. As of October 31, 2021, the company had a total of 22,566,717 treasury shares at a total average cost of $1,595.8 million.

Accumulated Other Comprehensive Loss

The components of AOCL, net of tax, within the Consolidated Statements of Stockholders' Equity were as follows (in thousands):

As of October 31	2022		2021
Foreign currency translation adjustments	$	51,321	$	19,535
Pension benefits	3,621		3,899
Cash flow derivative instruments	(21,817)		2,562
Total accumulated other comprehensive loss	$	33,125	$	25,996

The components and activity of AOCL, net of tax, were as follows (in thousands):

	Foreign Currency Translation Adjustments		Pension Benefits		Cash Flow Derivative Instruments		Total
Balance as of October 31, 2021	$	19,535	$	3,899	$	2,562	$	25,996
Other comprehensive (income) loss before reclassifications	31,786		(278)		(19,252)		12,256
Amounts reclassified from AOCL	—		—		(5,127)		(5,127)
Net current period other comprehensive (income) loss	31,786		(278)		(24,379)		7,129
Balance as of October 31, 2022	$	51,321	$	3,621	$	(21,817)	$	33,125

	Foreign Currency Translation Adjustments		Pension Benefits		Cash Flow Derivative Instruments		Total
Balance as of October 31, 2020	$	24,508	$	5,106	$	4,648	$	34,262
Other comprehensive income before reclassifications	(4,973)		(1,207)		(12,830)		(19,010)
Amounts reclassified from AOCL	—		—		10,744		10,744
Net current period other comprehensive income	(4,973)		(1,207)		(2,086)		(8,266)
Balance as of October 31, 2021	$	19,535	$	3,899	$	2,562	$	25,996

For additional information on the components reclassified from AOCL to the respective line items in net earnings for derivative instruments refer to Note 13, Derivative Instruments and Hedging Activities.