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Summary of Significant Accounting Policies and Related Data (Tables)

12 Months Ended

Oct. 31, 2024

Inventories, net were as follows (dollars in millions):


October 31	2024		2023
Raw materials and work in process	$	384.8	$	400.3
Finished goods and service parts	827.5		844.2
Total FIFO value	1,212.3		1,244.5
Less: adjustment to LIFO value	173.4		156.7
Total inventories, net	$	1,038.9	$	1,087.8

Property, plant and equipment, net was as follows (dollars in millions):


October 31	2024		2023
Land and land improvements	$	72.8	$	69.0
Buildings and leasehold improvements	372.1		355.8
Machinery and equipment	676.9		624.6
Tooling	235.1		260.4
Computer hardware and software	103.2		98.0
Construction in process	116.9		133.2
Property, plant and equipment, gross	1,577.0		1,541.0
Less: accumulated depreciation	932.2		899.3
Property, plant and equipment, net	$	644.8	$	641.7

The changes in accrued warranties were as follows (dollars in millions):


Fiscal Years Ended October 31	2024		2023		2022
Beginning balance	$	143.9	$	134.5	$	116.8
Changes in accrual related to warranties issued during the period	77.0		90.1		81.5
Acquisitions	—		—		5.7
Payments made during the period	(88.0)		(84.5)		(74.6)
Changes in accrual related to pre-existing warranties	17.3		3.8		5.1
Ending balance	$	150.2	$	143.9	$	134.5

Reconciliations of basic and diluted weighted-average shares of common stock outstanding are as follows (in millions):


Fiscal Years Ended October 31	2024	2023	2022
Basic
Weighted-average number of shares of common stock	103.8	104.4	104.8

Weighted-average number of shares of common stock outstanding – Basic	103.8	104.4	104.8

Diluted
Weighted-average number of shares of common stock outstanding – Basic	103.8	104.4	104.8
Effect of dilutive securities	0.6	0.9	0.8
Weighted-average number of shares of common stock outstanding – Diluted	104.4	105.3	105.6