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Fair Value of Financial Instruments - Schedule of Fair Value of Financial Instruments (Detail) - USD ($)
$ in Millions
Jan. 31, 2017
Oct. 31, 2016
Fair Value, Inputs, Level 1    
Financial Instruments    
Cash and cash equivalents [1] $ 42.6 $ 56.0
Fair Value, Inputs, Level 2    
Financial Instruments    
Line of credit [2] 306.0 268.3
Other Noncurrent Assets | Fair Value, Inputs, Level 1    
Financial Instruments    
Insurance deposits [3] 11.2 11.2
Other Noncurrent Assets | Fair Value, Inputs, Level 2    
Financial Instruments    
Interest rate swaps [4] 2.8 0.2
Other Noncurrent Assets | Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 1    
Financial Instruments    
Assets held in funded deferred compensation plan [5] 4.9 4.9
Other Investments | Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3    
Financial Instruments    
Investments in auction rate securities [6] 8.0 8.0
Other Noncurrent Liabilities | Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3    
Financial Instruments    
Contingent consideration liability [7] $ 4.7 $ 3.8
[1] Cash and cash equivalents are stated at nominal value, which equals fair value.
[2] Represents outstanding borrowings under our syndicated line of credit. Due to variable interest rates, the carrying value of outstanding borrowings under our line of credit approximates the fair value. See Note 11, “Line of Credit,” for further information.
[3] ) Represents restricted insurance deposits that are used to collateralize our insurance obligations and are stated at nominal value, which equals fair value. These insurance deposits are included in “Other noncurrent assets” on the accompanying unaudited consolidated balance sheets. See Note 10, “Insurance,” for further information.
[4] Represents interest rate swap derivatives designated as cash flow hedges. The fair values of the interest rate swaps are estimated based on the present value of the difference between expected cash flows calculated at the contracted interest rates and the expected cash flows at current market interest rates using observable benchmarks for LIBOR forward rates at the end of the period. These interest rate swaps are included in “Other noncurrent assets” on the accompanying unaudited consolidated balance sheets. See Note 11, “Line of Credit,” for further information.
[5] Represents investments held in a Rabbi trust associated with one of our deferred compensation plans, which we include in “Other noncurrent assets” on the accompanying unaudited consolidated balance sheets. The fair value of the assets held in the funded deferred compensation plan is based on quoted market prices.
[6] For investments in auction rate securities, the fair value was based on discounted cash flow valuation models, primarily utilizing unobservable inputs, including assumptions about the underlying collateral, credit risks associated with the issuer, credit enhancements associated with financial insurance guarantees, and the possibility of the security being re-financed by the issuer or having a successful auction. These amounts are included in “Other investments” on the accompanying unaudited consolidated balance sheets. See Note 9, “Auction Rate Securities,” for further information.
[7] Certain of our acquisitions involve the payment of contingent consideration. The fair value of these liabilities is based on the expected achievement of certain pre-established revenue goals. Our contingent consideration liabilities are included in “Other accrued liabilities” and “Other noncurrent liabilities,” on the accompanying unaudited consolidated balance sheets.