LONG-TERM DEBT

6 Months Ended

Apr. 30, 2023

Debt Disclosure [Abstract]

Long-term Debt [Text Block]

SHORT-TERM AND LONG-TERM DEBT

A subsidiary of the Company acquired in the first quarter of fiscal 2023 has a short-term borrowing arrangement with a balance of $15.1 million as of the acquisition date and $17.2 million as of April 30, 2023.

    Long-term debt consists of the following (in thousands):

	April 30, 2023	October 31, 2022
Borrowings under revolving credit facility	$723,000	$275,000
Finance leases and note payable	14,397	15,274
	737,397	290,274
Less: Current maturities of long-term debt	(1,618)	(1,654)
	$735,779	$288,620

The Company's borrowings under its revolving credit facility mature in fiscal 2025. As of April 30, 2023 and October 31 2022, the weighted average interest rate on borrowings under the Company's revolving credit facility was 6.1% and 4.6%, respectively. The revolving credit facility contains both financial and non-financial covenants. As of April 30, 2023, the Company was in compliance with all such covenants.