Leases

9 Months Ended

Jul. 31, 2024

Leases [Abstract]

Leases

Leases

We have operating lease arrangements for office space, data center, equipment and other corporate assets. These leases have various expiration dates through December 31, 2042, some of which include options to extend the leases for up to 10 years. Because we are not reasonably certain to exercise these renewal options, the options are not considered in determining the lease term and associated potential option payments are excluded from lease payments.

The components of our lease expense during the period presented are as follows:

	Three Months Ended July 31,				Nine Months Ended July 31,
	2024		2023		2024		2023
	(in thousands)
Operating lease expense (1)	$	23,800	$	22,018	$	67,848	$	68,165
Variable lease expense (2)	5,182		5,622		16,761		14,684
Total lease expense	$	28,982	$	27,640	$	84,609	$	82,849

(1) Operating lease expense includes immaterial amounts of short-term leases, net of sublease income.

(2) Variable lease expense includes payments to lessors that are not fixed or determinable at lease commencement date. These payments primarily consist of maintenance, property taxes, insurance and variable indexed based payments.

Supplemental cash flow information during the period presented is as follows:

	Nine Months Ended July 31,
	2024		2023
	(in thousands)
Cash paid for amounts included in the measurement of operating lease liabilities(1)	$	74,715	$	66,556
ROU assets obtained in exchange for operating lease liabilities(2)	$	64,790	$	81,027

(1) Cash paid for amounts included in the measurement of operating lease liabilities included cash from discontinued operations of $4.3 million and $4.3 million for the periods presented.

(2) ROU assets obtained in exchange for operating lease liabilities included ROU assets from discontinued operations of $0.7 million and $1.4 million for the periods presented.

Lease term and discount rate information related to our operating leases as of the end of the period presented are as follows:

	As of
	July 31, 2024		October 31, 2023
Weighted-average remaining lease term (in years)	7.77		8.44
Weighted-average discount rate	2.76	%	2.50	%

The following table represents the maturities of our future lease payments due under operating leases as of July 31, 2024:

	Lease Payments
Fiscal year	(in thousands)
Remainder of fiscal 2024	$	20,499
2025	112,496
2026	106,262
2027	103,600
2028	88,298
2029 and thereafter	304,542
Total future minimum lease payments	735,697
Less: Imputed interest	77,421
Total lease liabilities	$	658,276

In addition, certain facilities owned by us were leased to third parties under non-cancellable operating lease agreements. These leases have annual escalating payments and have expiration dates through March 31, 2031 in accordance with the terms and conditions of the existing agreement. The lease receipts from owned facilities, including sublease income from other facilities leased by us, due to us as of July 31, 2024 are as follows:

	Lease Receipts
Fiscal year	(in thousands)
Remainder of fiscal 2024	$	6,357
2025	25,351
2026	26,230
2027	27,376
2028	27,557
2029 and thereafter	56,491
Total	$	169,362