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Financial Derivatives and Hedging (Tables)
 9 Months Ended
Jul. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of outstanding derivatives designated as hedging instruments
As of July 31, 2020, the Company had the following outstanding derivatives designated as hedging instruments:
(In millions, except for number of instruments)
Number of Instruments
 
Notional Value
Interest Rate Swap Contracts

6

 
$
1,500
Schedule of fair values of derivative instruments in condensed consolidated balance sheets
The following table summarizes the fair values of derivative instruments as of the periods indicated and the line items in the accompanying condensed consolidated balance sheets where the instruments are recorded:
 
 
Derivative Liabilities
(In millions)
 
 
 
July 31, 2020
 
July 31, 2019
Derivatives designated as cash flow hedges
 
Balance sheet location
 
 
 
 
Interest rate swap contracts
 
Other current liabilities
 
$
0.7

 
$
—

Interest rate swap contracts
 
Other non-current liabilities
 
23.1

 
—

 
 
 
 
$
23.8

 
$
—
Schedule of derivative instruments recognized in condensed consolidated statements of income
The following table summarizes the amounts recognized with respect to our derivative instruments within the accompanying condensed consolidated statements of income:
Periods Ended July 31,
 
 
Three Months
 
Nine Months
(In millions)
 
 
2020
 
2019
 
2020
 
2019
Derivatives designated as cash flow hedges
 
Location of Loss Recognized on Derivatives
 
 
 
 
 
 
 
Interest rate swap contracts
 
Interest expense
$
1.8

 
$
—

 
$
1.6

 
$
—
Schedule of changes in accumulated other comprehensive income
Analysis of Changes in Accumulated Other Comprehensive (Loss) Income:
(In millions)
Foreign Currency Translation Adjustment
 
Minimum Pension Liability
 
Derivative Instruments
 
Total
Balance at October 31, 2018
$
(412.2
)
 
$
(18.5
)
 
$
—

 
$
(430.7
)
Gross change in value
9.0

 
(33.4
)
 
—

 
(24.4
)
Tax effect for the period
—

 
8.0

 
—

 
8.0

Balance at October 31, 2019
$
(403.2
)
 
$
(43.9
)
 
$
—

 
$
(447.1
)
Gross change in value
20.5

 
—

 
(23.8
)
 
(3.3
)
Tax effect for the period
—

 
—

 
5.7

 
5.7

Balance at July 31, 2020
$
(382.7
)
 
$
(43.9
)
 
$
(18.1
)
 
$
(444.7
)

The following table details the changes in accumulated other comprehensive income:
(In millions)
 
Amount
Beginning balance gain / (loss) as of October 31, 2019
 
$
—

Amount recognized in other comprehensive income on interest rate swap contracts, gross
 
(25.4
)
Amount reclassified from other comprehensive income into earnings, gross
 
1.6

Ending balance gain / (loss) as of July 31, 2020
 
$
(23.8
)