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SEGMENT INFORMATION
 9 Months Ended
Jul. 31, 2023
Segment Reporting [Abstract]  
SEGMENT INFORMATION SEGMENT INFORMATION
Our current reportable segments consist of B&I, M&D, Education, Aviation, and Technical Solutions, as further described below.
REPORTABLE SEGMENTS AND DESCRIPTIONS
B&I
B&I, our largest reportable segment, encompasses janitorial, facilities engineering, and parking services for commercial real estate properties (including corporate offices for high-tech clients), sports and entertainment venues, and traditional hospitals and non-acute healthcare facilities. B&I also provides vehicle maintenance and other services to rental car providers.
M&D
M&D provides integrated facility services, engineering, janitorial, and other specialized services in different types of manufacturing, distribution, and data center facilities. Manufacturing facilities include traditional motor vehicles, electric vehicles, batteries, pharmaceuticals, steel, semiconductors, chemicals, and many others. Distribution facilities include e-commerce, cold storage, logistics, general warehousing, and others.
Education
Education delivers janitorial, custodial, landscaping and grounds, facilities engineering, and parking services for public school districts, private schools, colleges, and universities.
Aviation
Aviation supports airlines and airports with services ranging from parking and janitorial to passenger assistance, catering logistics, air cabin maintenance, and transportation.
Technical Solutions
Technical Solutions specializes in facility infrastructure, mechanical, and electrical services, including power design, installation, and maintenance, as well as microgrid systems installations. These services can also be leveraged for cross-selling across all of our industry groups, both domestically and internationally.
Financial Information by Reportable Segment
Three Months Ended July 31,Nine Months Ended July 31,
(in millions)2023202220232022
Revenues
Business & Industry$1,021.4 $1,033.8 $3,056.4 $3,067.0 
Manufacturing & Distribution381.9 358.1 1,135.5 1,074.1 
Education219.1 207.5 650.7 617.6 
Aviation238.0 203.5 677.5 589.7 
Technical Solutions167.9 158.4 483.4 447.2 
$2,028.2 $1,961.4 $6,003.5 $5,795.5 
Operating profit
Business & Industry$78.9 $82.4 $231.1 $242.4 
Manufacturing & Distribution38.1 38.0 119.7 120.6 
Education15.9 14.5 39.5 38.8 
Aviation11.7 9.5 43.6 28.0 
Technical Solutions(1)
11.4 15.4 28.8 42.8 
Government Services— 0.1 — (0.3)
Corporate(2)
(15.9)(70.3)(156.7)(200.6)
Adjustment for income from unconsolidated affiliates, included in Aviation and Technical Solutions(1.2)(0.8)(3.0)(1.8)
Adjustment for tax deductions for energy efficient government buildings, included in Technical Solutions— (0.1)(0.1)(0.3)
138.9 88.7 303.1 269.7 
Income from unconsolidated affiliates1.2 0.8 3.0 1.8 
Interest expense(20.9)(11.1)(61.8)(25.2)
Income before income taxes$119.3 $78.3 $244.2 $246.3 
(1) Reflects a $7.6 million gain on the sale of assets during the nine months ended July 31, 2022.
(2) Reflects adjustments to the fair value of the contingent consideration payable related to the RavenVolt Acquisition, and an employee retention credit totaling $22.4 million during the three and nine months ended July 31, 2023.
The accounting policies for our segments are the same as those disclosed within our significant accounting policies in Note 2, “Basis of Presentation and Significant Accounting Policies.” Our management evaluates the performance of each reportable segment based on its respective operating profit results, which include the allocation of certain centrally incurred costs. Corporate expenses not allocated to segments include certain CEO and other finance and human resource departmental expenses, certain information technology costs, share-based compensation, certain legal costs and settlements, certain actuarial adjustments to self-insurance reserves, acquisition and integration costs, and changes in fair values of contingent consideration. Management does not review asset information by segment, therefore we do not present assets in this note.