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REVENUES (Tables)
12 Months Ended
Oct. 31, 2022
Revenue from Contract with Customer [Abstract]  
Schedule of Revenue from External Customers by Major Service Lines and Segments
Year Ended October 31, 2022
(in millions)B&IM&DEducationAviationTechnical SolutionsTotal
Major Service Line
Janitorial(1)
$2,746.6 $1,242.4 $720.6 $119.8 $— $4,829.4 
Parking(2)
354.3 36.6 0.9 311.7 — 703.6 
Facility Services(3)
995.0 166.2 113.2 28.3 — 1,302.7 
Building & Energy Solutions(4)
— — — — 626.8 626.8 
Airline Services(5)
— — — 344.2 — 344.2 
Total$4,095.9 $1,445.2 $834.7 $804.0 $626.8 $7,806.6 
Year Ended October 31, 2021
(in millions)B&IM&DEducationAviationTechnical SolutionsTotal
Major Service Line
Janitorial(1)
$2,180.2 $1,157.9 $724.1 $116.8 $— $4,179.0 
Parking(2)
296.1 39.8 0.9 257.0 — 593.8 
Facility Services(3)
377.5 165.4 105.8 24.9 — 673.6 
Building & Energy Solutions(4)
— — — — 529.8 529.8 
Airline Services(5)
— — — 252.4 — 252.4 
Total$2,853.8 $1,363.1 $830.8 $651.1 $529.8 $6,228.6 
(1) Janitorial arrangements provide a wide range of essential cleaning services for commercial office buildings, airports and other transportation centers, educational institutions, government buildings, health facilities, industrial buildings, retail stores, and stadiums and arenas. These arrangements are often structured as monthly fixed-price, square-foot, cost-plus, and work order contracts.
(2) Parking arrangements provide parking and transportation services for clients at various locations, including airports and other transportation centers, commercial office buildings, educational institutions, health facilities, hotels, and stadiums and arenas. These arrangements are structured as management reimbursement, leased location, and allowance contracts. Certain of these arrangements are considered service concession agreements and are accounted for under the guidance of Topic 853; accordingly, rent expense related to these arrangements is recorded as a reduction of the related parking service revenues.
(3) Facility Services arrangements provide onsite mechanical engineering and technical services and solutions relating to a broad range of facilities and infrastructure systems that are designed to extend the useful life of facility fixed assets, improve equipment operating efficiencies, reduce energy consumption, lower overall operational costs for clients, and enhance the sustainability of client locations. These arrangements are generally structured as monthly fixed-price, cost-plus, and work order contracts.
(4) Building & Energy Solutions arrangements provide custom energy solutions, including microgrid systems installation, electrical, HVAC, lighting, electric vehicle charging station installation, and other general maintenance and repair services for clients in the public and private sectors and are generally structured as Energy Savings and Fixed-Price Repair and Refurbishment contracts. We also franchise certain operations under franchise agreements relating to our Linc Network and TEGG brands pursuant to franchise contracts.
(5) Airline Services arrangements support airlines and airports with services such as passenger assistance, catering logistics, and airplane cabin maintenance. These arrangements are often structured as monthly fixed-price, cost-plus, transaction price, and hourly contracts.
Schedule of Contract with Customer, Asset and Liability
The following tables present the balances in our contract assets and contract liabilities:
As of October 31,
(in millions)20222021
Contract assets
Billed trade receivables(1)
$1,138.8 $1,057.6 
Unbilled trade receivables(1)
162.5 112.1 
Costs incurred in excess of amounts billed(2)
75.8 52.5 
Capitalized commissions(3)
30.9 27.8 
(1) Included in trade accounts receivable, net, on the Consolidated Balance Sheets. The fluctuations correlate directly to the execution of new customer contracts and to invoicing and collections from customers in the normal course of business.
(2) Fluctuation is primarily due to the timing of payments on our contracts measured using the cost-to-cost method of revenue recognition.
(3) Included in other current assets and other noncurrent assets on the Consolidated Balance Sheets. During the year ended October 31, 2022, we capitalized $17.4 million of new costs and amortized $14.4 million of previously capitalized costs. There was no impairment loss recorded on the costs capitalized.
(in millions)Year Ended
October 31, 2022
Contract liabilities(1)
Balance at beginning of year$58.5 
Acquisition additions(2)
31.6 
Additional contract liabilities213.9 
Recognition of deferred revenue
(224.4)
Balance at end of year
$79.6 
(1) Included in other accrued liabilities on the Consolidated Balance Sheets.
(2) Represents additions associated with the RavenVolt acquisition.