Financial Instruments, Fair Value and Risk Management (Tables)

9 Months Ended

Jul. 31, 2016

Summary of Financial Assets and Liabilities Measured at Fair Value

The following table provides a summary of the financial assets and liabilities that are measured at fair value as of July 31, 2016 and October 31, 2015:



	Fair value measurement at July 31, 2016				Fair value measurement at October 31, 2015
Assets measured at fair value	Level 1	Level 2	Level 3	Total	Level 1	Level 2	Level 3	Total
	$	$	$	$	$	$	$	$
Available-for-sale securities	1.5	—	—	1.5	1.4	—	—	1.4
Held-for-trading securities	—	1.6	—	1.6	—	1.7	—	1.7
Total assets	1.5	1.6	—	3.1	1.4	1.7	—	3.1



	Fair value measurement at July 31, 2016				Fair value measurement at October 31, 2015
Liabilities measured at fair value	Level 1	Level 2	Level 3	Total	Level 1	Level 2	Level 3	Total
	$	$	$	$	$	$	$	$
Foreign exchange forward contracts	—	1.4	—	1.4	—	7.6	—	7.6
Earnout liability	—	—	38.7	38.7	—	—	—	—
Total liabilities	—	1.4	38.7	40.1	—	7.6	—	7.6

Level 1 - Based on quoted market prices in active markets.

Level 2 - Inputs, other than quoted prices in active markets, that are observable, either directly or indirectly.

Level 3 - Unobservable inputs that are not corroborated by market data.

Schedule of Derivative Financial Instruments and Investments Classification on Consolidated Balance Sheet

The following table presents the fair value of the Company's derivative financial instruments and their classifications on the consolidated balance sheets as of July 31, 2016 and October 31, 2015:



	Assets as of July 31, 2016		Assets as of October 31, 2015
	Balance sheet location	Fair value	Balance sheet location	Fair value
		$		$
Available-for-sale securities	Investments	1.5	Investments	1.4
Held-for-trade securities	Investments	1.6	Investments	1.7
Total		3.1		3.1



	Liabilities as of July 31, 2016		Liabilities as of October 31, 2015
	Balance sheet location	Fair value	Balance sheet location	Fair value
		$		$
Foreign exchange forward contracts	Accounts payable and accrued liabilities	1.4	Accounts payable and accrued liabilities	7.0
Foreign exchange forward contracts	Other long-term liabilities	—	Other long-term liabilities	0.6
Earnout liability	Other long-term liabilities	38.7	Other long-term liabilities	—
Total		40.1		7.6

Schedule of Fair Values and Carrying Values of Long-term Debt

As of July 31, 2016, the fair values and carrying values of the Company’s long-term debt, including the current portion of long-term debt, are categorized in the table below:



	Fair Value
	Level 1	Level 2	Level 3	Total	Carrying Value
	$	$	$	$	$
Long-term debt, including current portion	—	2,756.8	—	2,756.8	2,712.8

As of October 31, 2015, the fair values and carrying values of the Company’s long-term debt, including the current portion of long-term debt, are categorized in the table below:



	Fair Value
	Level 1	Level 2	Level 3	Total	Carrying Value
	$	$	$	$	$
Long-term debt, including current portion	—	2,675.8	—	2,675.8	2,667.9

Schedule of Earnout Liability Activity

The earnout liability activity is summarized as follows for the nine months ended July 31, 2016:



	Total
	$
Balance at October 31, 2015	—
Liability assumed from parent	36.0
Total (gains) losses for the period:
Gain from revised earnout definition	(4.9	)
Change in fair value	7.6
Balance at July 31, 2016	38.7

Schedule of Net Investment Hedges in Accumulated Other Comprehensive Income (Loss)

The following table summarizes the net investment hedge foreign exchange activity for the three and nine months ended July 31, 2016 and 2015 since net investment hedge inception:



	Three months ended July 31,				Nine months ended July 31,
	2016		2015		2016		2015
	$		$		$		$
Foreign exchange gain (loss) for the period from net investment hedge	12.9		11.0		(8.1	)	42.9
Release of ineffective portion of net investment hedge to consolidated statement of operations	(1.2	)	—		1.0		—
Net investment hedge gain from sale of Italian subsidiary reclassified to consolidated statement of operations	—		(3.9	)	—		(3.9	)
Net gain (loss) to other comprehensive income (loss) for the period related to net investment hedge	11.7		7.1		(7.1	)	39.0

The following table summarizes the foreign currency activity on the intercompany loans that are included as part of the net investment in certain foreign subsidiaries for the three and nine months ended July 31, 2016 and 2015 since net investment hedge inception:



	Three months ended July 31,				Nine months ended July 31,
	2016		2015		2016	2015
	$		$		$	$
Foreign exchange gain (loss) for the period from long-term intercompany loan revaluation	(1.6	)	(0.8	)	1.4	(6.6	)