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LEASES (Tables)

12 Months Ended

Oct. 31, 2024

Schedule of Components of Lease assets and Liabilities / Operating Lease Liabilities

The components of lease assets and liabilities and their classification on our Consolidated Balance Sheets were as follows:


		As of October 31,
(in millions)	Classification	2024		2023
Lease assets
Operating leases	Right-of-use assets	$	101.2	$	113.4
Finance leases	Property, plant and equipment, net(1)	20.5		15.2
Total lease assets		$	121.7	$	128.6

Lease liabilities
Current liabilities
Operating leases	Current portion of lease liabilities	$	26.6	$	32.5
Finance leases	Other accrued liabilities	4.5		3.1
Noncurrent liabilities
Operating leases	Long-term lease liabilities	92.0		98.8
Finance leases	Other noncurrent liabilities	15.0		11.1
Total lease liabilities		$	138.1	$	145.5

(1) Finance lease assets are recorded net of accumulated amortization of $23.1 million and $18.9 million as of October 31, 2024 and October 31, 2023, respectively.

The following table includes the weighted-average remaining lease terms, in years, and the weighted-average discount rate used to calculate the present value of operating lease liabilities:


	Year Ended October 31,
	2024		2023
Weighted-average remaining lease term (years)
Operating leases	5.5		5.5
Finance leases	5.3		5.2
Weighted-average discount rate
Operating leases	5.05	%	4.60	%
Finance leases	5.88	%	5.28	%

Schedule of Lease, Cost

The components of lease costs and classification within the Consolidated Statements of Comprehensive Income were as follows:


	Year Ended October 31,
(in millions)	2024		2023
Operating lease costs:
Operating expenses(1)(2)	$	81.6	$	70.6
Selling, general and administrative expenses(3)	26.4		25.4
Finance lease costs:
Operating expenses(4)	4.6		2.4

Interest expense(5)	1.1		0.5
Total lease costs	$	113.8	$	99.0

(1) Related to certain parking arrangements.

(2) Includes short-term lease costs and variable lease costs.

(3) Includes short-term lease costs.

(4) Represents amortization of leased assets.

(5) Interest on lease liabilities.

The following table presents information on short-term and variable lease costs:


	Year Ended October 31,
(in millions)	2024		2023
Short-term lease costs	$	64.0	$	53.5
Variable lease costs	6.8		6.4
Total short-term and variable lease costs	$	70.8	$	59.9

The following table includes supplemental cash and non-cash information related to operating leases:


	Year Ended October 31,
(in millions)	2024		2023
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	35.3	$	37.9
Operating cash flows from finance leases	1.1		0.5
Financing cash flows from finance leases	4.2		3.0
Lease assets obtained in exchange for new operating lease liabilities	20.9		28.7

Schedule of Maturities of Operating Lease Liabilities

The amounts of future undiscounted cash flows related to the lease payments over the lease terms and the reconciliation to the present value of the lease liabilities as recorded on our Consolidated Balance Sheets as of October 31, 2024, are as follows:


(in millions)	Operating Lease Liabilities		Finance Lease Liabilities		Total
Fiscal 2025	$	31.9	$	5.5	$	37.4
Fiscal 2026	29.7		4.7		34.4
Fiscal 2027	22.8		3.1		25.9
Fiscal 2028	16.2		3.1		19.4
Fiscal 2029	11.6		3.1		14.7
Thereafter	25.1		3.1		28.2
Total lease payments	137.2		22.8		160.0
Less: imputed interest	18.5		3.3		21.9
Present value of lease liabilities	$	118.7	$	19.5	$	138.1

Schedule of Maturities of Finance Lease Liabilities


(in millions)	Operating Lease Liabilities		Finance Lease Liabilities		Total
Fiscal 2025	$	31.9	$	5.5	$	37.4
Fiscal 2026	29.7		4.7		34.4
Fiscal 2027	22.8		3.1		25.9
Fiscal 2028	16.2		3.1		19.4
Fiscal 2029	11.6		3.1		14.7
Thereafter	25.1		3.1		28.2
Total lease payments	137.2		22.8		160.0
Less: imputed interest	18.5		3.3		21.9
Present value of lease liabilities	$	118.7	$	19.5	$	138.1