XML 41 R25.htm IDEA: XBRL DOCUMENT v3.23.1
DEBT (Tables)
 6 Months Ended
Apr. 30, 2023
Debt Disclosure [Abstract]  
Schedule of Components of Debt
Components of Debt
(in millions)April 30, 2023October 31, 2022
Current portion of debt
Gross term loan$32.5 $32.5 
Unamortized deferred financing costs(1.0)(1.0)
Current portion of term loan$31.5 $31.5 
Receivables facility— 150.0 
Current portion of debt$31.5 $181.5 
Long-term debt
Gross term loan$552.5 $568.8 
Unamortized deferred financing costs(2.0)(2.4)
Total noncurrent portion of term loan550.5 566.3 
Revolving line of credit(1)(2)
802.0 520.0 
Long-term debt$1,352.5 $1,086.3 
(1) Standby letters of credit amounted to $58.6 million at April 30, 2023.
(2) At April 30, 2023, we had borrowing capacity of $432.0 million.
Schedule of Term Loan Maturities As of April 30, 2023, the following principal payments are required under the term loan:
(in millions)20232024202520262027
Debt maturities$16.3 $32.5 $32.5 $1,305.8 $— 
Schedule of Interest Rate Swap Information
Notional AmountFixed Interest RateEffective DateMaturity Date
$100.0 million1.72%February 9, 2022June 28, 2026
$150.0 million1.85%February 25, 2022June 28, 2026
$100.0 million2.88%May 4, 2022June 28, 2026
     $235.0 million (1)
2.83%July 7, 2022June 28, 2026
     $65.0 million (1)
2.79%July 18, 2022June 28, 2026
$170.0 million3.81%November 1, 2022June 28, 2026
(1) In July 2022, we entered into interest rate swap agreements with notional values totaling $300.0 million at inception. The notional amount reduces to $250.0 million in April 2024, $175.0 million in October 2024, and $100.0 million in October 2025 before maturing on June 28, 2026.