Subsequent Events

12 Months Ended

Oct. 31, 2016

Subsequent Events [Abstract]

Subsequent Events

SUBSEQUENT EVENTS

On November 3, 2016, the Company, as borrowers, entered into the 2017 Credit Agreement. The 2017 Credit Agreement replaces in its entirety the Prior Credit Agreement. See Note 9 herein for additional information on the 2017 Credit Agreement.

Subsequent to October 31, 2016, the Company entered into a forward interest rate swap with a notional amount of $300 million.  See Note 10 herein for additional information on the forward interest rate swap.

Subsequent to October 31, 2016, an annuity contract was purchased with defined benefit plan assets and the pension obligation for certain retirees in the United States was irrevocably transferred from that plan to the annuity contract. Additionally, lump sum payments were made from the defined benefit plan assets to certain participants who agreed to such payments, representing the current fair value of the participant's respective pension benefit. See Note 13 herein for additional information on the annuity contract and lump sum payments.