XML 70 R24.htm IDEA: XBRL DOCUMENT

Leases (Tables)

6 Months Ended

Apr. 30, 2020

Leases on the Consolidated Condensed Balance Sheet

The following table presents information about leases on the Consolidated Condensed Balance Sheet:



(In millions)	April 30, 2020
Operating Leases
Operating lease right-of-use assets	$	255.5

Operating lease liabilities, current	31.5
Operating lease liabilities, non-current	232.7
Total operating lease liabilities	$	264.2

Weighted average remaining lease term (in years)	11.6
Weighted average discount rate	3		%

Lease Cost

The following table presents information about lease expense in our Consolidated Statements of Income and Comprehensive Income:



Periods Ended April 30,	Three Months		Six Months
(In millions)	2020		2020
Operating lease expense	$	9.7	$	19.6
Short-term lease expense	1.5		2.6
Variable lease expense	0.4		0.8

The following table presents supplemental cash flow information about the Company’s leases:



Periods Ended April 30,	Three Months		Six Months
(In millions)	2020		2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	9.7	$	19.6

Minimum Rental Payments required under Operating Leases

The minimum rental payments required under operating leases that have initial or remaining noncancelable lease terms in excess of one year as of April 30, 2020 are:



(In millions)
Remainder of 2020	$	19.1
2021	36.5
2022	32.6
2023	29.2
2024	27.1
2025 and thereafter	173.9
Total lease payments	318.4
Less: interest	54.2
Present value of lease liabilities	$	264.2

Future Minimum Lease Payments for Operating Leases under ASC 840

As previously disclosed in the Company’s Annual Report on Form 10-K for the fiscal year ended October 31, 2019, and under previous lease accounting standard ASC 840, Leases, the aggregate future noncancelable minimum rental payments on its operating leases, as of October 31, 2019, were as follows:



(In millions)
2020	$	38.5
2021	34.9
2022	31.2
2023	28.0
2024	26.5
2025 and thereafter	173.6
Total future minimum lease payments	$	332.7