0000771497-21-000026 | 10-Q | XBRL Viewer

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Cover Page - shares	9 Months Ended
Cover Page - shares	Jul. 31, 2021	Sep. 08, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jul. 31, 2021
Document Transition Report	false
Entity File Number	1-8929
Entity Registrant Name	ABM INDUSTRIES INC
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	94-1369354
Entity Address, Address Line One	One Liberty Plaza
Entity Address, Address Line Two	7th Floor
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10006
City Area Code	212
Local Phone Number	297-0200
Title of 12(b) Security	Common Stock, $0.01 par value
Trading Symbol	ABM
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		67,241,136
Entity Central Index Key	0000771497
Current Fiscal Year End Date	--10-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
Amendment Flag	false

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions	Jul. 31, 2021	Oct. 31, 2020
Current assets
Cash and cash equivalents	$ 505.4	$ 394.2
Trade accounts receivable, net of allowances of $31.8 and $35.5 at July 31, 2021 and October 31, 2020, respectively	910.2	854.2
Costs incurred in excess of amounts billed	43.0	52.2
Prepaid expenses	87.8	85.4
Other current assets	54.0	55.9
Total current assets	1,600.3	1,441.9
Other investments	11.1	11.1
Property, plant and equipment, net of accumulated depreciation of $266.5 and $241.3 at July 31, 2021 and October 31, 2020, respectively	111.8	133.7
Right-of-use assets	129.5	143.1
Other intangible assets, net of accumulated amortization of $376.5 and $343.8 at July 31, 2021 and October 31, 2020, respectively	207.7	239.7
Goodwill	1,675.5	1,671.4
Deferred income tax asset, net	38.2	0.0
Other noncurrent assets	123.2	136.1
Total assets	3,897.4	3,776.9
Current liabilities
Current portion of long-term debt, net	31.4	116.7
Trade accounts payable	224.8	273.3
Accrued compensation	171.3	187.6
Accrued taxes—other than income	106.3	45.5
Insurance claims	154.9	155.2
Income taxes payable	15.3	6.2
Current portion of lease liabilities	32.4	35.0
Other accrued liabilities	369.0	167.3
Total current liabilities	1,105.5	986.9
Long-term debt, net	623.8	603.0
Long-term lease liabilities	119.4	131.4
Deferred income tax liability, net	0.0	10.8
Noncurrent insurance claims	344.4	366.3
Other noncurrent liabilities	111.6	168.1
Noncurrent income taxes payable	12.4	10.1
Total liabilities	2,317.1	2,276.6
Commitments and contingencies
Stockholders’ Equity
Preferred stock, $0.01 par value; 500,000 shares authorized; none issued	0.0	0.0
Common stock, $0.01 par value; 100,000,000 shares authorized; 67,234,832 and 66,748,157 shares issued and outstanding at July 31, 2021 and October 31, 2020, respectively	0.7	0.7
Additional paid-in capital	743.6	724.1
Accumulated other comprehensive loss, net of taxes	(22.9)	(30.8)
Retained earnings	859.0	806.4
Total stockholders’ equity	1,580.3	1,500.3
Total liabilities and stockholders’ equity	$ 3,897.4	$ 3,776.9

Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Millions	Jul. 31, 2021	Oct. 31, 2020
Statement of Financial Position [Abstract]
Trade accounts receivable, allowance	$ 31.8	$ 35.5
Property, plant and equipment, accumulated depreciation	266.5	241.3
Other intangible assets, accumulated amortization	$ 376.5	$ 343.8
Preferred stock, par value (in USD per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	500,000	500,000
Preferred stock, shares issued (in shares)	0	0
Common stock, par value (in USD per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Common stock, shares issued (in shares)	67,234,832	66,748,157
Common stock, shares outstanding (in shares)	67,234,832	66,748,157

Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2021	Jul. 31, 2020
Income Statement [Abstract]
Revenues	$ 1,543.1	$ 1,394.1	$ 4,533.0	$ 4,503.0
Operating expenses	1,288.1	1,174.9	3,812.0	3,914.8
Selling, general and administrative expenses	253.8	113.7	538.3	350.8
Restructuring and related expenses	0.0	0.0	0.0	5.0
Amortization of intangible assets	10.6	11.8	32.1	37.0
Impairment loss of goodwill and other intangibles	0.0	0.0	0.0	172.8
Operating (loss) profit	(9.4)	93.6	150.6	22.8
Income from unconsolidated affiliates	0.5	0.2	1.4	2.0
Interest expense	(6.3)	(13.8)	(22.6)	(34.5)
(Loss) income from continuing operations before income taxes	(15.2)	80.0	129.4	(9.7)
Income tax benefit (provision)	1.5	(24.0)	(37.4)	(43.2)
(Loss) income from continuing operations	(13.7)	56.0	92.0	(52.9)
Income from discontinued operations, net of taxes	0.0	0.0	0.0	0.1
Net (loss) income	(13.7)	56.0	92.0	(52.8)
Other comprehensive (loss) income
Interest rate swaps	0.7	0.7	3.5	(9.2)
Foreign currency translation and other	0.1	4.3	5.3	0.5
Income tax (provision) benefit	(0.2)	(0.2)	(1.0)	2.5
Comprehensive (loss) income	$ (13.1)	$ 60.8	$ 99.9	$ (59.0)
Net (loss) income per common share — Basic
(Loss) income from continuing operations (in USD per share)	$ (0.20)	$ 0.84	$ 1.37	$ (0.79)
Income from discontinued operations (in USD per share)	0	0	0	0
Net (loss) income (in USD per share)	(0.20)	0.84	1.37	(0.79)
Net (loss) income per common share — Diluted
(Loss) income from continuing operations (in USD per share)	(0.20)	0.83	1.36	(0.79)
Income from discontinued operations (in USD per share)	0	0	0	0
Net (loss) income (in USD per share)	$ (0.20)	$ 0.83	$ 1.36	$ (0.79)
Weighted-average common and common equivalent shares outstanding
Basic (in shares)	67.5	66.9	67.3	66.9
Diluted (in shares)	67.5	67.2	67.8	66.9

Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) shares in Millions, $ in Millions	Total	Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Loss, Net of Taxes	Retained Earnings
Balance, beginning of period (in shares) at Oct. 31, 2019		66.6
Balance, beginning of period at Oct. 31, 2019		$ 0.7	$ 708.9	$ (23.9)	$ 856.3
Increase (Decrease) in Stockholders' Equity [Roll Forward]
(Taxes withheld) stock issued under employee stock purchase and share-based compensation plans (in shares)		0.2
(Taxes withheld) stock issued under employee stock purchase and share-based compensation plans, net		$ 0.0	0.0
Repurchase of common stock (in shares)		(0.2)
Repurchase of common stock		$ 0.0	(5.1)
Share-based compensation expense			11.1
Other comprehensive income (loss)				(6.2)
Net (loss) income	$ (52.8)				(52.8)
Dividends
Common stock ($0.190, $0.185, $0.570, and $0.555 per share)					(37.0)
Stock issued under share-based compensation plans					(0.6)
Balance, end of period (in shares) at Jul. 31, 2020		66.7
Balance, end of period at Jul. 31, 2020	1,451.3	$ 0.7	714.9	(30.1)	765.9
Balance, beginning of period (in shares) at Apr. 30, 2020		66.6
Balance, beginning of period at Apr. 30, 2020		$ 0.7	707.1	(34.9)	722.3
Increase (Decrease) in Stockholders' Equity [Roll Forward]
(Taxes withheld) stock issued under employee stock purchase and share-based compensation plans (in shares)		0.0
(Taxes withheld) stock issued under employee stock purchase and share-based compensation plans, net		$ 0.0	0.9
Repurchase of common stock (in shares)		0.0
Repurchase of common stock		$ 0.0	0.0
Share-based compensation expense			6.9
Other comprehensive income (loss)				4.8
Net (loss) income	56.0				56.0
Dividends
Common stock ($0.190, $0.185, $0.570, and $0.555 per share)					(12.3)
Stock issued under share-based compensation plans					(0.1)
Balance, end of period (in shares) at Jul. 31, 2020		66.7
Balance, end of period at Jul. 31, 2020	1,451.3	$ 0.7	714.9	(30.1)	765.9
Balance, beginning of period (in shares) at Oct. 31, 2020		66.7
Balance, beginning of period at Oct. 31, 2020	1,500.3	$ 0.7	724.1	(30.8)	806.4
Increase (Decrease) in Stockholders' Equity [Roll Forward]
(Taxes withheld) stock issued under employee stock purchase and share-based compensation plans (in shares)		0.5
(Taxes withheld) stock issued under employee stock purchase and share-based compensation plans, net		$ 0.0	(6.5)
Repurchase of common stock (in shares)		0.0
Repurchase of common stock		$ 0.0	0.0
Share-based compensation expense			26.0
Other comprehensive income (loss)				7.8
Net (loss) income	92.0				92.0
Dividends
Common stock ($0.190, $0.185, $0.570, and $0.555 per share)					(38.2)
Stock issued under share-based compensation plans					(1.3)
Balance, end of period (in shares) at Jul. 31, 2021		67.2
Balance, end of period at Jul. 31, 2021	1,580.3	$ 0.7	743.6	(22.9)	859.0
Balance, beginning of period (in shares) at Apr. 30, 2021		67.1
Balance, beginning of period at Apr. 30, 2021		$ 0.7	737.1	(23.6)	885.6
Increase (Decrease) in Stockholders' Equity [Roll Forward]
(Taxes withheld) stock issued under employee stock purchase and share-based compensation plans (in shares)		0.1
(Taxes withheld) stock issued under employee stock purchase and share-based compensation plans, net		$ 0.0	(2.0)
Repurchase of common stock (in shares)		0.0
Repurchase of common stock		$ 0.0	0.0
Share-based compensation expense			8.4
Other comprehensive income (loss)				0.7
Net (loss) income	(13.7)				(13.7)
Dividends
Common stock ($0.190, $0.185, $0.570, and $0.555 per share)					(12.8)
Stock issued under share-based compensation plans					(0.2)
Balance, end of period (in shares) at Jul. 31, 2021		67.2
Balance, end of period at Jul. 31, 2021	$ 1,580.3	$ 0.7	$ 743.6	$ (22.9)	$ 859.0

Consolidated Statements of Stockholder's' Equity (Unaudited) (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2021	Jul. 31, 2020
Statement of Stockholders' Equity [Abstract]
Common stock, dividends (in USD per share)	$ 0.190	$ 0.185	$ 0.570	$ 0.555

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	9 Months Ended
	Jul. 31, 2021	Jul. 31, 2020
Cash flows from operating activities
Net income (loss)	$ 92.0	$ (52.8)
Income from discontinued operations, net of taxes	0.0	(0.1)
Income (loss) from continuing operations	92.0	(52.9)
Adjustments to reconcile income (loss) from continuing operations to net cash provided by operating activities of continuing operations
Depreciation and amortization	66.2	73.2
Impairment loss of goodwill and other intangibles	0.0	172.8
Impairment loss on fixed assets	9.1	0.0
Deferred income taxes	(50.0)	(19.4)
Share-based compensation expense	26.0	11.1
Provision for bad debt	(1.3)	19.5
Amortization of accumulated other comprehensive gain on interest rate swaps	(4.8)	(5.0)
Discount accretion on insurance claims	0.0	0.6
Loss on sale of assets	1.3	1.4
Income from unconsolidated affiliates	(1.4)	(2.0)
Distributions from unconsolidated affiliates	1.9	0.1
Changes in operating assets and liabilities
Trade accounts receivable and costs incurred in excess of amounts billed	(45.4)	148.3
Prepaid expenses and other current assets	1.6	(39.3)
Right-of-use assets	13.6	10.9
Other noncurrent assets	14.4	(2.0)
Trade accounts payable and other accrued liabilities	193.1	(125.6)
Long-term lease liabilities	(11.9)	(13.1)
Insurance claims	(22.2)	20.2
Income taxes payable	11.5	5.9
Other noncurrent liabilities	(34.9)	54.2
Total adjustments	166.7	311.6
Net cash provided by operating activities of continuing operations	258.8	258.7
Net cash provided by operating activities of discontinued operations	0.0	0.1
Net cash provided by operating activities	258.8	258.8
Cash flows from investing activities
Additions to property, plant and equipment	(23.3)	(28.9)
Proceeds from sale of assets	2.1	5.8
Proceeds from redemption of auction rate security	0.0	5.0
Net cash used in investing activities	(21.2)	(18.1)
Cash flows from financing activities
Taxes withheld from issuance of share-based compensation awards, net	(7.8)	(0.6)
Repurchases of common stock	0.0	(5.1)
Dividends paid	(38.2)	(37.0)
Deferred financing costs paid	(6.4)	(4.4)
Borrowings from credit facility	32.7	1,052.0
Repayment of borrowings from credit facility	(97.9)	(1,103.1)
Changes in book cash overdrafts	(19.6)	31.3
Financing of energy savings performance contracts	10.8	1.5
Repayment of finance lease obligations	(2.3)	(2.7)
Net cash used in financing activities	(128.7)	(68.1)
Effect of exchange rate changes on cash and cash equivalents	2.3	(1.7)
Net increase in cash and cash equivalents	111.2	170.9
Cash and cash equivalents at beginning of year	394.2	58.5
Cash and cash equivalents at end of period	$ 505.4	$ 229.4

The Company and Nature of Operations	9 Months Ended
The Company and Nature of Operations	Jul. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
The Company and Nature of Operations	THE COMPANY AND NATURE OF OPERATIONS ABM is a leading provider of integrated facility services with a mission to make a difference, every person, every day. We are organized into four industry groups and one Technical Solutions segment: Through these groups, we offer janitorial, facilities engineering, parking, and specialized mechanical and electrical technical solutions, on a standalone basis or in combination with other services.

Basis of Presentation and Significant Accounting Policies

9 Months Ended

Jul. 31, 2021

Accounting Policies [Abstract]

Basis of Presentation and Significant Accounting Policies

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

The accompanying unaudited consolidated financial statements have been prepared in accordance with (i) United States generally accepted accounting principles (“U.S. GAAP”) for interim financial information and (ii) the instructions to Form 10-Q and Article 10 of Regulation S-X. In the opinion of our management, our unaudited consolidated financial statements and accompanying notes (the “Financial Statements”) include all normal recurring adjustments that are necessary for the fair statement of the interim periods presented. Interim results of operations are not necessarily indicative of results for the full year. The Financial Statements should be read in conjunction with our audited consolidated financial statements (and notes thereto) in our Annual Report on Form 10-K for the year ended October 31, 2020. Unless otherwise indicated, all references to years are to our fiscal years, which end on October 31.

Impact of the Pandemic

COVID-19 has resulted in a worldwide health Pandemic. To date, the Pandemic has surfaced in regions all around the world and resulted in business slowdowns and shutdowns, as well as global travel restrictions. In these Financial Statements, we have assessed the current impact of the Pandemic on our financial condition, results of operations, and cash flows as well as on our estimates, forecasts, and accounting policies. We have made additional disclosures of these assessments, as necessary. Given the unprecedented nature of this situation, we cannot reasonably estimate the full impact the Pandemic will have on our financial condition, results of operations, or cash flows in the foreseeable future. The ultimate impact of the Pandemic on our company is highly uncertain and will depend on future developments, and such impacts could exist for an extended period of time, even after the Pandemic subsides.

The Pandemic continues to create a dynamic client environment, and we are working diligently to ensure our clients’ changing staffing and service needs are met while actively managing direct labor and related personnel costs, including furloughs or reduced hours for certain frontline employees in markets significantly impacted by business slowdowns and shutdowns.

Rounding

We round amounts in the Financial Statements to millions and calculate all percentages and per-share data from the underlying whole-dollar amounts. Thus, certain amounts may not foot, crossfoot, or recalculate based on reported numbers due to rounding.

Discontinued Operations

Following the sale of our Security business in 2015, we record all costs associated with this former business in discontinued operations. Such costs generally relate to litigation we retained and insurance reserves.

Management Reimbursement Revenue by Segment

We operate certain parking facilities under management reimbursement arrangements. Under these arrangements, we manage the parking facilities for management fees and pass through the revenues and expenses associated with the facilities to the owners. These revenues and expenses are reported in equal amounts as costs reimbursed from our managed locations:


	Three Months Ended July 31,				Nine Months Ended July 31,
(in millions)	2021		2020		2021		2020
Business & Industry	$	47.5	$	42.6	$	134.1	$	178.0
Aviation	13.4		14.8		39.9		61.4
Total	$	60.9	$	57.4	$	174.1	$	239.3

Recently Adopted Accounting Standards

The Financial Accounting Standards Board (“FASB”) issued ASU No. 2016-13, Financial Instruments—Credit Losses (Topic 326) in June 2016 and subsequently issued these amendments to the initial guidance: ASU 2018-19, ASU 2019-04, ASU 2019-05, ASU 2019-11, and ASU 2020-03 (collectively, “Topic 326”). Topic 326 replaces the existing incurred loss impairment model with a methodology that incorporates all expected credit loss estimates, resulting in more timely recognition of losses. Under Topic 326, an organization is required to measure all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the reported financial assets. It also requires credit losses related to available-for-sale debt securities to be recorded through an allowance for credit losses. We adopted this standard effective November 1, 2020, on a modified retrospective basis. The asset and liability classes that we have identified to be in the scope of Topic 326 at the time of the adoption are trade accounts receivable, costs incurred in excess of amounts billed, guarantees, reinsurance recoverables, and notes receivable. The adoption of this standard did not have a material impact on our consolidated financial statements.

In August 2018, the FASB issued ASU No. 2018-15, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract. This accounting update aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. The guidance also specifies that the presentation of capitalized implementation costs and the related amortization on the balance sheet, income statement, and statement of cash flows should align with the presentation of the hosting (service) element of the arrangement. We adopted this standard effective November 1, 2020, on a prospective basis. The adoption of the standard did not have a material impact on our consolidated financial statements.

No other recently adopted accounting standards have had a significant impact on our fiscal 2021 consolidated financial statements.

Revenues

9 Months Ended

Jul. 31, 2021

Revenue from Contract with Customer [Abstract]

Revenues

REVENUES

Disaggregation of Revenues

We generate revenues under several types of contracts, which are further explained below. Generally, the type of contract is determined by the nature of the services provided by each of our major service lines throughout our reportable segments; therefore, we disaggregate revenues from contracts with customers into major service lines. We have determined that disaggregating revenues into these categories best depicts how the nature, amount, timing, and uncertainty of revenues and cash flows are affected by economic factors. Our reportable segments are Business & Industry (“B&I”), Technology & Manufacturing (“T&M”), Education, Aviation, and Technical Solutions, as described in Note 10, “Segment Information.”


	Three Months Ended July 31, 2021												Nine Months Ended July 31, 2021
(in millions)	B&I		T&M		Education		Aviation		Technical Solutions		Total		B&I		T&M		Education		Aviation		Technical Solutions		Total

Major Service Line
Janitorial(1)	$	650.4	$	197.6	$	181.6	$	28.7	$	—	$	1,058.3	$	1,941.7	$	591.8	$	553.4	$	86.9	$	—	$	3,173.8
Parking(2)	76.4		9.2		0.2		66.9		—		152.8		213.7		30.9		0.6		184.2		—		429.5
Facility Services(3)	80.8		39.3		26.7		7.5		—		154.2		257.5		118.9		78.1		21.2		—		475.7
Building & Energy Solutions(4)	—		—		—		—		146.1		146.1		—		—		—		—		385.0		385.0
Airline Services(5)	0.1		—		—		72.6		—		72.7		0.3		—		—		174.8		—		175.1
	$	807.7	$	246.1	$	208.4	$	175.7	$	146.1	$	1,584.1	$	2,413.3	$	741.6	$	632.0	$	467.2	$	385.0	$	4,639.1
Elimination of inter-segment revenues											(40.9)												(106.1)
Total											$	1,543.1											$	4,533.0


	Three Months Ended July 31, 2020												Nine Months Ended July 31, 2020
(in millions)	B&I		T&M		Education		Aviation		Technical Solutions		Total		B&I		T&M		Education		Aviation		Technical Solutions		Total

Major Service Line
Janitorial(1)	$	596.9	$	197.1	$	165.7	$	26.9	$	—	$	986.6	$	1,786.9	$	573.1	$	529.4	$	91.2	$	—	$	2,980.5
Parking(2)	67.7		8.5		0.2		46.9		—		123.3		290.7		24.0		1.5		203.1		—		519.4
Facility Services(3)	92.2		37.6		22.7		6.3		—		158.8		285.5		113.7		65.7		24.8		—		489.7
Building & Energy Solutions(4)	—		—		—		—		119.2		119.2		—		—		—		—		383.5		383.5
Airline Services(5)	0.1		—		—		36.2		—		36.3		0.3		—		—		220.7		—		221.0
	$	756.9	$	243.2	$	188.6	$	116.4	$	119.2	$	1,424.2	$	2,363.4	$	710.8	$	596.6	$	539.9	$	383.5	$	4,594.1
Elimination of inter-segment revenues											(30.1)												(91.1)
Total											$	1,394.1											$	4,503.0

(1) Janitorial arrangements provide a wide range of essential cleaning services for commercial office buildings, airports and other transportation centers, educational institutions, government buildings, health facilities, industrial buildings, retail stores, and stadiums and arenas. These arrangements are often structured as monthly fixed-price, square-foot, cost-plus, and work order contracts.

(2) Parking arrangements provide parking and transportation services for clients at various locations, including airports and other transportation centers, commercial office buildings, educational institutions, health facilities, hotels, and stadiums and arenas. These arrangements are structured as management reimbursement, leased location, and allowance contracts. Certain of these arrangements are considered service concession agreements and are accounted for under the guidance of ASU

2017-10, Service Concession Arrangements (Topic 853): Determining the Customer of the Operation Services; accordingly, rent expense related to these arrangements is recorded as a reduction of the related parking service revenues.

(3) Facility Services arrangements provide onsite mechanical engineering and technical services and solutions relating to a broad range of facilities and infrastructure systems that are designed to extend the useful life of facility fixed assets, improve equipment operating efficiencies, reduce energy consumption, lower overall operational costs for clients, and enhance the sustainability of client locations. These arrangements are generally structured as monthly fixed-price, cost-plus, and work order contracts.

(4) Building & Energy Solutions arrangements provide custom energy solutions, electrical, HVAC, lighting, and other general maintenance and repair services for clients in the public and private sectors and are generally structured as Energy Savings, Fixed-Price Repair, and Refurbishment contracts. We also franchise certain operations under franchise agreements relating to our Linc Network and TEGG brands, pursuant to franchise contracts.

(5) Airline Services arrangements support airlines and airports with services such as passenger assistance, catering logistics, and airplane cabin maintenance. These arrangements are often structured as monthly fixed-price, cost-plus, transaction price, and hourly contracts.

Contract Types

We have arrangements under various contract types, as described in Note 2, “Basis of Presentation and Significant Accounting Policies,” in our Annual Report on Form 10-K for the year ended October 31, 2020.

Certain arrangements involve variable consideration (primarily per transaction fees, reimbursable expenses, and sales-based royalties). We do not estimate the variable consideration for these arrangements; rather, we recognize these variable fees as they are earned.

The majority of our contracts include performance obligations that are primarily satisfied over time as we provide the related services. These contract types include: monthly fixed-price; square-foot; cost-plus; work orders; transaction-price; hourly; management reimbursement; leased location; allowance; energy savings contracts; and fixed-price repair and refurbishment contracts, as well as our franchise and royalty fee arrangements. We recognize revenue as the services are performed using a measure of progress that is determined by the contract type. Generally, most of our contracts are cancelable by either party without a substantive penalty, and the majority have a notification period of 30 to 60 days.

We primarily account for our performance obligations under the series guidance, using the as-invoiced practical expedient when applicable. We apply the as-invoiced practical expedient to record revenue as the services are provided, given the nature of the services provided and the frequency of billing under the customer contracts. Under this practical expedient, we recognize revenue in an amount that corresponds directly with the value to the customer of our performance completed to date and for which we have the right to invoice the customer.

Remaining Performance Obligations

At July 31, 2021, performance obligations that were unsatisfied or partially unsatisfied for which we expect to recognize revenue totaled $284.7 million. We expect to recognize revenue on approximately 74% of the remaining performance obligations over the next 12 months, with the remainder recognized thereafter, based on our estimates of project timing.

These amounts exclude variable consideration primarily related to: (i) contracts where we have determined that the contract consists of a series of distinct service periods and revenues are based on future performance that cannot be estimated at contract inception; (ii) parking contracts where we and the customer share the gross revenues or operating profit for the location; and (iii) contracts where transaction prices include performance incentives that are based on future performance and therefore cannot be estimated at contract inception. We apply the practical expedient that permits exclusion of information about the remaining performance obligations with original expected durations of one year or less.

Contract Balances

The timing of revenue recognition, billings, and cash collections results in contract assets and contract liabilities, as further explained below. The timing of revenue recognition may differ from the timing of invoicing to customers.

Contract assets primarily consist of billed trade receivables, unbilled trade receivables, and costs incurred in excess of amounts billed. Billed and unbilled trade receivables represent amounts from work completed in which we

have an unconditional right to bill our customer. Costs incurred in excess of amounts billed typically arise when the revenue recognized on projects exceeds the amount billed to the customer. These amounts are transferred to billed trade receivables when the rights become unconditional. Contract assets also include the capitalization of incremental costs of obtaining a contract with a customer, primarily commissions. Commissions expense is recognized on a straight-line basis over a weighted average expected customer relationship period.

Contract liabilities consist of deferred revenue and advance payments and billings in excess of revenue recognized. We generally classify contract liabilities as current since the related contracts are generally for a period of one year or less. Contract liabilities decrease as we recognize revenue from the satisfaction of the related performance obligation.

The following tables present the balances in our contract assets and contract liabilities:


(in millions)	July 31, 2021		October 31, 2020
Contract assets
Billed trade receivables(1)	$	826.7	$	835.8
Unbilled trade receivables(1)	115.3		53.9
Costs incurred in excess of amounts billed(2)	43.0		52.2
Capitalized commissions(3)	26.9		25.2

(1) Included in trade accounts receivable, net, on the unaudited Consolidated Balance Sheets. The fluctuations correlate directly to the execution of new customer contracts and to invoicing and collections from customers in the normal course of business.

(2) Fluctuation is primarily due to the timing of payments on our contracts measured using the cost-to-cost method of revenue recognition.

(3) Included in other current assets and other noncurrent assets on the unaudited Consolidated Balance Sheets. During the nine months ended July 31, 2021, we capitalized $11.9 million of new costs and amortized $10.2 million of previously capitalized costs. There was no impairment loss recorded on the costs capitalized.


(in millions)	Nine Months Ended July 31, 2021
Contract liabilities(1)
Balance at beginning of period	$	36.4
Additional contract liabilities	134.1
Recognition of deferred revenue	(114.9)
Balance at end of period	$	55.6

(1) Included in other accrued liabilities on the unaudited Consolidated Balance Sheets.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

+ Details

Net Income (Loss) Per Common Share

9 Months Ended

Jul. 31, 2021

Earnings Per Share [Abstract]

Net Income (Loss) Per Common Share

NET INCOME (LOSS) PER COMMON SHARE

Basic and Diluted Net Income (Loss) Per Common Share Calculations


	Three Months Ended July 31,				Nine Months Ended July 31,
(in millions, except per share amounts)	2021		2020		2021		2020
(Loss) income from continuing operations	$	(13.7)	$	56.0	$	92.0	$	(52.9)
Income from discontinued operations, net of taxes	—		—		—		0.1
Net (loss) income	$	(13.7)	$	56.0	$	92.0	$	(52.8)

Weighted-average common and common equivalent shares outstanding — Basic	67.5		66.9		67.3		66.9
Effect of dilutive securities(1)
Restricted stock units	—		0.1		0.4		—
Stock options	—		0.1		—		—
Performance shares	—		0.1		0.1		—
Weighted-average common and common equivalent shares outstanding — Diluted	67.5		67.2		67.8		66.9

Net (loss) income per common share — Basic
(Loss) income from continuing operations	$	(0.20)	$	0.84	$	1.37	$	(0.79)
Income from discontinued operations	—		—		—		—
Net (loss) income	$	(0.20)	$	0.84	$	1.37	$	(0.79)

Net (loss) income per common share — Diluted
(Loss) income from continuing operations	$	(0.20)	$	0.83	$	1.36	$	(0.79)
Income from discontinued operations	—		—		—		—
Net (loss) income	$	(0.20)	$	0.83	$	1.36	$	(0.79)

(1) Excludes the impact of potentially dilutive outstanding share-based securities that are excluded from the calculation of diluted loss per share in periods when we have a loss, as their inclusion would have an anti-dilutive effect. Such impact is included in the table below.

Anti-Dilutive Outstanding Stock Awards Issued Under Share-Based Compensation Plans


	Three Months Ended July 31,		Nine Months Ended July 31,
(in millions)	2021	2020	2021	2020
Anti-dilutive	—	0.4	—	0.6

Fair Value of Financial Instruments

9 Months Ended

Jul. 31, 2021

Fair Value Disclosures [Abstract]

Fair Value of Financial Instruments

FAIR VALUE OF FINANCIAL INSTRUMENTS

Fair Value Hierarchy of Our Financial Instruments

Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis


(in millions)	Fair Value Hierarchy	July 31, 2021		October 31, 2020
Cash and cash equivalents(1)	1	$	505.4	$	394.2
Insurance deposits(2)	1	0.7		0.7
Assets held in funded deferred compensation plan(3)	1	2.8		2.6
Credit facility(4)	2	660.0		725.3
Interest rate swap liabilities(5)	2	7.2		15.5

(1) Cash and cash equivalents are stated at nominal value, which equals fair value.

(2) Represents restricted deposits that are used to collateralize our insurance obligations and are stated at nominal value, which equals fair value. These insurance deposits are included in “Other noncurrent assets” on the accompanying unaudited Consolidated Balance Sheets. See Note 6, “Insurance,” for further information.

(3) Represents investments held in a Rabbi trust associated with one of our deferred compensation plans, which we include in “Other noncurrent assets” on the accompanying unaudited Consolidated Balance Sheets. The fair value of the assets held in the funded deferred compensation plan is based on quoted market prices.

(4) Represents gross outstanding borrowings under our syndicated line of credit and term loan. Due to variable interest rates, the carrying value of outstanding borrowings under our line of credit and term loan approximates the fair value. See Note 7, “Credit Facility,” for further information.

(5) Represents interest rate swap derivatives designated as cash flow hedges. The fair values of the interest rate swaps are estimated based on the present value of the difference between expected cash flows calculated at the contracted interest rates and the expected cash flows at current market interest rates using observable benchmarks for the London Interbank Offered Rate (“LIBOR”) forward rates at the end of the period. At July 31, 2021, and October 31, 2020, our interest rate swaps are included in “Other noncurrent liabilities” on the accompanying unaudited Consolidated Balance Sheets. See Note 7, “Credit Facility,” for further information.

The Company does not currently have any financial assets or liabilities recorded at fair value using Level 3 inputs, and there were no transfers to or from Level 3 financial assets or liabilities during the nine months ended July 31, 2021.

Non-Financial Assets Measured at Fair Value on a Non-Recurring Basis

In addition to assets and liabilities that are measured at fair value on a recurring basis, we are also required to measure certain items at fair value on a non-recurring basis. These assets can include: goodwill; intangible assets; property, plant and equipment; lease-related ROU assets; and long-lived assets that have been reduced to fair value when they are held for sale. If certain triggering events occur, or if an annual impairment test is required, then we would evaluate these non-financial assets for impairment. If an impairment were to occur, then the asset would be recorded at the estimated fair value, using primarily unobservable Level 3 inputs.

During the three and nine months ended July 31, 2021, we identified and recognized an impairment of certain previously capitalized internal-use software, as further described below. During the second quarter of 2020, given the general deterioration in economic and market conditions arising from the Pandemic, we identified a triggering event and recognized impairment of goodwill and intangible assets, as further described below.

Internal-Use Software

During the three and nine months ended July 31, 2021, we recognized a non-cash impairment charge totaling $9.1 million in our Corporate segment for previously capitalized internal-use software related to our Enterprise Resource Planning (“ERP”) system implementation. The Company determined that certain components that were previously developed would no longer be integrated into the new ERP system. The impairment charge reduced the carrying value to zero for those components and is recorded in “Selling, general and administrative

expenses” on our unaudited Consolidated Statements of Comprehensive Income (Loss) for the three and nine months ended July 31, 2021.

Goodwill

During the second quarter of 2020, we recognized a non-cash impairment charge totaling $163.8 million in three goodwill reporting units ($99.3 million related to Education, $55.5 million related to Aviation, and $9.0 million related to our U.K. Technical Solutions business) as part of an interim impairment test performed as a result of a triggering event arising from the Pandemic. The fair values of the goodwill reporting units were determined using a combination of the market approach and income approach. The market approach estimates the fair value of a reporting unit by using market comparables for reasonably similar public companies and a control premium. The income approach estimates fair value of a reporting unit by using discounted cash flows that included significant management assumptions, such as revenue growth rates, operating margins, weighted average cost of capital, and future economic and operating conditions. The impairment charge is included in “Impairment loss” on our unaudited Consolidated Statements of Comprehensive Income (Loss) for the nine months ended July 31, 2020, and is not tax deductible.

Intangible Assets

During the second quarter of 2020 and in connection with the goodwill triggering event previously mentioned, we recognized net impairment charges of $5.6 million related to Aviation (consisting of a $13.8 million reduction in the gross carrying amount of the underlying customer relationships less $8.2 million of accumulated amortization) and $3.4 million related to our U.K. Technical Solutions business (consisting of an $8.7 million reduction in the gross carrying amount of the underlying customer relationships less $5.3 million of accumulated amortization). The fair value of customer contracts and relationships was determined based on discounted cash flows associated with the customer relationships that included significant management assumptions, including expected proceeds. These impairment charges are included in “Impairment loss” on our unaudited Consolidated Statements of Comprehensive Income (Loss) for the nine months ended July 31, 2020.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Insurance

9 Months Ended

Jul. 31, 2021

Insurance [Abstract]

Insurance

INSURANCE

We use a combination of insured and self-insurance programs to cover workers’ compensation, general liability, automobile liability, property damage, and other insurable risks. For the majority of these insurance programs, we retain the initial $1.0 million to $1.5 million of exposure on a per-occurrence basis, either through deductibles or self-insured retentions. Beyond the retained exposures, we have varying primary policy limits ranging between $1.0 million and $5.0 million per occurrence. To cover general liability and automobile liability losses above these primary limits, we maintain commercial umbrella insurance policies that provide aggregate limits of $200.0 million. Our insurance policies generally cover workers’ compensation losses to the full extent of statutory requirements. Additionally, to cover property damage risks above our retained limits, we maintain policies that provide per occurrence limits of $75.0 million. We are also self-insured for certain employee medical and dental plans. We maintain stop-loss insurance for our self-insured medical plan under which we retain up to $0.5 million of exposure on a per-participant, per-year basis with respect to claims.

We maintain our reserves for workers’ compensation, general liability, automobile liability, and property damage insurance claims based upon known trends and events and the actuarial estimates of required reserves considering the most recently completed actuarial reports. We use all available information to develop our best estimate of insurance claims reserves as information is obtained. The results of actuarial reviews are used to estimate our insurance rates and insurance reserves for future periods and to adjust reserves, if appropriate, for prior years.

Actuarial Review Performed During Third Quarter 2021

We review our self-insurance liabilities on a regular basis and adjust our accruals accordingly. Actual claims activity or development may vary from our assumptions and estimates, which may result in material losses or gains. As we obtain additional information that affects the assumptions and estimates used in our reserve liability calculations, we adjust our self-insurance rates and reserves for future periods and, if appropriate, adjust our reserves for claims incurred in prior accounting periods.

During the third quarter of 2021, we performed a comprehensive actuarial review of the majority of our casualty insurance programs to evaluate changes made to claims reserves and claims payment activity for the period of November 1, 2020, through April 30, 2021 (the “Actuarial Review”). The Actuarial Review was comprehensive in nature and was based on loss development patterns, trend assumptions, and underlying expected loss costs during the period analyzed.

Based on the results of the Actuarial Review, we decreased our total reserves related to prior years for known claims as well as our estimate of the loss amounts associated with incurred but not reported claims (“IBNR claims”) during the nine months ended July 31, 2021 by $29.7 million. During the nine months ended July 31, 2020, we decreased our total reserves related to prior year claims by $15.1 million. We will continue to assess ongoing developments, which may result in further adjustments to reserves.

During the fourth quarter of 2021, we expect to perform an update to our Actuarial Review for our significant insurance programs that will use the most recent claims data and consider changes in claims development and claims payment activity for the periods analyzed. This review will be abbreviated in nature based on actual versus expected development during the periods analyzed, will rely on the key assumptions used in the Actuarial Review (most notably loss development patterns, trend assumptions, and underlying expected loss costs), and will include claims related to certain previously acquired businesses. This review may lead to further adjustments to our insurance reserves.

Insurance Related Balances and Activity


(in millions)	July 31, 2021		October 31, 2020
Insurance claim reserves, excluding medical and dental	$	488.8	$	504.9
Medical and dental claim reserves	10.5		16.6
Insurance recoverables	67.4		70.1

At July 31, 2021, and October 31, 2020, insurance recoverables are included in both “Other current assets” and “Other noncurrent assets” on the accompanying unaudited Consolidated Balance Sheets.

Instruments Used to Collateralize Our Insurance Obligations


(in millions)	July 31, 2021		October 31, 2020
Standby letters of credit	$	139.0	$	143.6
Surety bonds	83.8		82.6
Restricted insurance deposits	0.7		0.7
Total	$	223.5	$	226.9

Credit Facility

9 Months Ended

Jul. 31, 2021

Debt Disclosure [Abstract]

Credit Facility

CREDIT FACILITY

On September 1, 2017, we refinanced and replaced our then-existing $800.0 million credit facility with a new senior, secured five-year syndicated credit facility (the “Credit Facility”), consisting of a $900.0 million revolving line of credit (the “revolver”) and an $800.0 million amortizing term loan, both of which were scheduled to mature on September 1, 2022. In accordance with terms of the Credit Facility, the revolver was reduced to $800.0 million on September 1, 2018.

On June 28, 2021, the Company amended and restated the Credit Facility (the “Amendment”, and the Credit Facility as amended, the “Amended Credit Facility”), extending the maturity date to June 28, 2026 and increasing the capacity of the revolving credit facility from $800.0 million to $1.3 billion and the-then remaining term loan outstanding from $620.0 million to $650.0 million. The Amendment also removed the anti-cash hoarding mandatory prepayment requirement as well as other restrictions that limited our ability to make acquisitions, share repurchases, and other defined restricted payments. The Amendment also modified certain financial covenants, terms, interest rates, interest margins, and commitment fees applicable to loans and commitments under the prior Credit Facility. The Amended Credit Facility provides for the issuance of up to $350.0 million for standby letters of credit and the issuance of up to $75.0 million in swingline advances. The obligations under the Amended Credit Facility are secured on a first-priority basis by a lien on substantially all of our assets and properties, subject to certain exceptions. Additionally, we may repay amounts borrowed under the Amended Credit Facility at any time without penalty.

Under the Amended Credit Facility, the term loan and U.S.-dollar-denominated borrowings under the revolver bear interest at a rate equal to one-month LIBOR plus a spread based upon our leverage ratio. Euro- and sterling-denominated borrowings under the revolver bear at the interest rate of the Euro Interbank Offered Rate (EURIBOR) and the daily Sterling Overnight Index Average (SONIA) reference rate, respectively, plus a spread that is based upon our leverage ratio. The spread ranges from 1.375% to 2.250% for Eurocurrency loans and 0.375% to 1.250% for base rate loans. At July 31, 2021, the weighted average interest rate on our outstanding borrowings was 1.59%. We also pay a commitment fee, based on our leverage ratio and payable quarterly in arrears, ranging from 0.20% to 0.40% on the average daily unused portion of the line of credit. For purposes of this calculation, irrevocable standby letters of credit, which are issued primarily in conjunction with our insurance programs, and cash borrowings are included as outstanding under the line of credit.

The Amended Credit Facility contains certain covenants, including a maximum total net leverage ratio of 5.00 to 1.00, a maximum secured net leverage ratio of 4.00 to 1.00, and a minimum interest coverage ratio of 1.50 to 1.00, as well as other financial and non-financial covenants. In the event of a material acquisition, as defined in the Amended Credit Facility, we may elect to increase the maximum total net leverage ratio to 5.50 to 1.00 for a total of four fiscal quarters and increase the maximum secured net leverage ratio to 4.50 to 1.00 for a total of four fiscal quarters. Our borrowing capacity is subject to, and limited by, compliance with the covenants described above. At July 31, 2021, we were in compliance with these covenants.

The Amended Credit Facility also includes customary events of default, including: failure to pay principal, interest, or fees when due, failure to comply with covenants; the occurrence of certain material judgments; and a change in control of the Company. If certain events of default occur, including certain cross-defaults, insolvency, change in control, or violation of specific covenants, then the lenders can terminate or suspend our access to the Amended Credit Facility, declare all amounts outstanding (including all accrued interest and unpaid fees) to be immediately due and payable, and require that we cash collateralize the outstanding standby letters of credit.

We incurred deferred financing costs of $6.4 million in conjunction with the Amendment and carried over $6.2 million of unamortized deferred financing from initial execution and previous amendments of the Credit Facility. Total deferred financing costs of $12.6 million, consisting of $4.9 million related to the term loan and $7.7 million related to the revolver, are being amortized to interest expense over the term of the Amended Credit Facility.

Credit Facility Information


(in millions)	July 31, 2021		October 31, 2020
Current portion of long-term debt
Gross term loan	$	32.5	$	120.0
Unamortized deferred financing costs	(1.1)		(3.3)
Current portion of term loan	$	31.4	$	116.7

Long-term debt
Gross term loan	$	609.4	$	560.0
Unamortized deferred financing costs	(3.7)		(2.3)
Total noncurrent portion of term loan	605.6		557.7
Revolving line of credit(1)(2)	18.2		45.3
Long-term debt	$	623.8	$	603.0

(1) Standby letters of credit amounted to $148.8 million at July 31, 2021.

(2) At July 31, 2021, we had borrowing capacity of $1.1 billion, reflecting covenant restrictions.

Term Loan Maturities

During the three and nine months ended July 31, 2021, we made principal payments under the term loan of $8.1 million and $68.1 million, respectively. As of July 31, 2021, the following principal payments are required under the term loan.


(in millions)	2021		2022		2023		2024		2025		2026
Debt maturities	$	8.1	$	32.5	$	32.5	$	32.5	$	32.5	$	503.8

Interest Rate Swaps

We enter into interest rate swaps to manage the interest rate risk associated with our floating-rate, LIBOR-based borrowings. Under these arrangements, we typically pay a fixed interest rate in exchange for LIBOR-based variable interest throughout the life of the agreement. We initially report the mark-to-market gain or loss on a derivative as a component of accumulated other comprehensive loss (“AOCL”) and subsequently reclassify the gain or loss into earnings when the hedged transactions occur and affect earnings. Interest payables and receivables under the swap agreements are accrued and recorded as adjustments to interest expense. All of our interest rate swaps have been designated and accounted for as cash flow hedges from inception. See Note 5, “Fair Value of Financial Instruments,” regarding the valuation of our interest rate swaps.

Notional Amount

Fixed Interest Rate

Effective Date

Maturity Date

$ 90.0 million

2.84%

November 1, 2018

October 31, 2021

$ 130.0 million

2.86%

November 1, 2018

April 30, 2022

$ 130.0 million

2.84%

November 1, 2018

September 1, 2022

At July 31, 2021 and October 31, 2020, amounts recorded in AOCL for interest rate swaps were a loss of $0.9 million, including tax expense of $0.1 million, and a loss of $3.3 million, net of a tax benefit of $0.9 million, respectively. These amounts included the gain associated with the interest rate swaps we terminated in 2018, which is being amortized to interest expense over the original term of our Credit Facility ending September 1, 2022. During the three and nine months ended July 31, 2021, we amortized $1.2 million, net of taxes of $0.4 million, and $3.5 million, net of taxes of $1.3 million, respectively, of this gain to interest expense. During the three and nine months ended July 31, 2020, we amortized $1.2 million, net of taxes of $0.5 million, and $3.6 million, net of taxes of $1.4 million, respectively. At July 31, 2021, the total amount expected to be reclassified from AOCL to earnings during the next 12 months is a loss of $0.6 million, net of a tax benefit of $0.1 million.

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Jul. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIES Letters of Credit and Surety Bonds We use letters of credit and surety bonds to secure certain commitments related to insurance programs and for other purposes. As of July 31, 2021, these letters of credit and surety bonds totaled $148.8 million and $679.8 million, respectively. Guarantees In some instances, we offer clients guaranteed energy savings under certain energy savings contracts. At July 31, 2021, total guarantees were $238.0 million and extend through 2041. We accrue for the estimated cost of guarantees when it is probable that a liability has been incurred and the amount can be reasonably estimated. Historically, we have not incurred any material losses in connection with these guarantees. Sales Taxes We collect sales tax from clients and remit those collections to the applicable states. When clients fail to pay their invoices, including the amount of any sales tax that we paid on their behalf, in some cases we are entitled to seek a refund of that amount of sales tax from the applicable state. Sales tax laws and regulations enacted by the various states are subject to interpretation, and our compliance with such laws is routinely subject to audit and review by such states. Audit risk is concentrated in several states that are conducting ongoing audits. The outcomes of ongoing and any future audits and changes in the states’ interpretation of the sales tax laws and regulations could materially adversely impact our results of operations. Legal Matters We are a party to a number of lawsuits, claims, and proceedings incident to the operation of our business, including those pertaining to labor and employment, contracts, personal injury, and other matters, some of which allege substantial monetary damages. Some of these actions may be brought as class actions on behalf of a class or purported class of employees. At July 31, 2021, the total amount accrued for probable litigation losses where a reasonable estimate of the loss could be made was $14.4 million. We do not accrue for contingent losses that, in our judgment, are considered to be reasonably possible but not probable. The estimation of reasonably possible losses also requires the analysis of multiple possible outcomes that often depend on judgments about potential actions by third parties. Our management currently estimates the range of loss for all reasonably possible losses for which a reasonable estimate of the loss can be made is between zero and $6 million. Factors underlying this estimated range of loss may change from time to time, and actual results may vary significantly from this estimate. The amounts above do not include any accrual or loss estimates with respect to the Bucio case, which are detailed below. Litigation outcomes are difficult to predict, and the estimation of probable losses requires the analysis of multiple possible outcomes that often depend on judgments about potential actions by third parties. If one or more matters are resolved in a particular period in an amount in excess of or in a manner different than what we anticipated, this could have a material adverse effect on our financial position, results of operations, or cash flows. In some cases, although a loss is probable or reasonably possible, we cannot reasonably estimate the maximum potential losses for probable matters or the range of losses for reasonably possible matters. Therefore, our accrual for probable losses and our estimated range of loss for reasonably possible losses do not represent our maximum possible exposure. Certain Legal Proceedings In determining whether to include any particular lawsuit or other proceeding in our disclosure below, we consider both quantitative and qualitative factors. These factors include, but are not limited to: the amount of damages and the nature of any other relief sought in the proceeding; if such damages and other relief are specified, our view of the merits of the claims; whether the action is or purports to be a class action, and our view of the likelihood that a class will be certified by the court; the jurisdiction in which the proceeding is pending; and the potential impact of the proceeding on our reputation. The Consolidated Cases of Bucio and Martinez v. ABM Janitorial Services filed on April 7, 2006, pending in the Superior Court of California, County of San Francisco (the “Bucio case”) The Bucio case is a class action pending in San Francisco Superior Court that alleges ABM failed to provide legally required meal periods and make additional premium payments for such meal periods, pay split shift premiums when owed, and reimburse janitors for travel expenses. There is also a claim for penalties under the California Labor Code Private Attorneys General Act (“PAGA”). On April 19, 2011, the trial court held a hearing on plaintiffs’ motion to certify the class. At the conclusion of that hearing, the trial court denied plaintiffs’ motion to certify the class. On May 11, 2011, the plaintiffs filed a motion to reconsider, which was denied. The plaintiffs appealed the class certification issues. The trial court stayed the underlying lawsuit pending the decision in the appeal. The Court of Appeal of the State of California, First Appellate District (the “Court of Appeal”), heard oral arguments on November 7, 2017. On December 11, 2017, the Court of Appeal reversed the trial court’s order denying class certification and remanded the matter for certification of a meal period, travel expense reimbursement, and split shift class. The case was remitted to the trial court for further proceedings on class certification, discovery, dispositive motions, and trial. On September 20, 2018, the trial court entered an order defining four certified subclasses of janitors who were employed by the legacy ABM janitorial companies in California at any time between April 7, 2002, and April 30, 2013, on claims based on alleged previous automatic deduction practices for meal breaks, unpaid meal premiums, unpaid split shift premiums, and unreimbursed business expenses, such as mileage reimbursement for use of personal vehicles to travel between worksites. On February 1, 2019, the trial court held that the discovery related to PAGA claims allegedly arising after April 30, 2013, would be stayed until after the class and PAGA claims accruing prior to April 30, 2013, had been tried. The parties engaged in mediation in July 2019, which did not result in settlement of the case. On October 17, 2019, the plaintiffs filed a motion asking the trial court to certify additional classes based on an alleged failure to maintain time records, an alleged failure to provide accurate wage statements, and an alleged practice of combining meal and rest breaks. The trial court denied the plaintiffs’ motion to certify additional classes on December 26, 2019. The case was reassigned to a new judge on January 6, 2020. ABM filed motions for summary adjudication as to certain of plaintiffs’ class claims, and the trial court denied those motions in November 2020. The parties engaged in another mediation in January 2021, which did not result in a settlement of the case. Plaintiffs filed motions for summary adjudication and/or summary judgment on some claims in December 2020. In February and March 2021, the parties engaged in expert discovery which provided detailed information regarding the plaintiffs’ damage calculations on the class claims. On February 25, 2021, the California Supreme Court issued an opinion in Donohue v. AMN Services, which addresses the standard for adjudicating meal period claims under California law and we believe is supportive of ABM’s legal position in the Bucio case. On May 5, 2021, the trial court denied all of the plaintiffs’ December 2020 motions for summary adjudication and/or summary judgment, and the case was assigned to a new judge. On May 5, 2021, the trial court ordered the parties to attend a mandatory settlement conference before a separate judge on June 11, 2021. The trial date was scheduled for July 12, 2021. On July 7, 2021, the Company entered into a class action settlement and release agreement to settle the Bucio case for $140 million and to obtain a release of the certified class claims that were asserted in the Bucio case. The settlement will also resolve the PAGA claim. The release of the certified class claims covers the time period from April 7, 2002, through April 30, 2013. The release of the PAGA claim covers the time period from November 15, 2005, through July 18, 2021. Any attorneys’ fees awarded by the trial court and all costs of notice and claims administration will be paid from the $140 million settlement fund. Employees who will be a part of the settlement will receive payments based on the number of pay periods they worked. The settlement agreement is contingent upon the approval of the trial court. On August 11, 2021, the plaintiffs filed the motion for preliminary approval of class action settlement with the trial court, which is currently pending. If the settlement is preliminarily approved, members of the certified class will receive notice of the settlement, and there will be an opportunity for them to object to the settlement before the trial court grants final approval of the settlement. No payments will be made to employees until after the settlement is finally approved by the trial court. The Company has recorded a $142.9 million settlement accrual, which includes an accrual of $2.9 million of related payroll taxes, for the Bucio case within “Other current liabilities” on the unaudited Consolidated Balance Sheets as of July 31, 2021, and $112.9 million and $142.9 million of related expense in “Selling, general and administrative expenses” in our unaudited Consolidated Statements of Comprehensive Income (Loss) for the three and nine months ending July 31, 2021, respectively.

Income Taxes	9 Months Ended
Income Taxes	Jul. 31, 2021
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES Our quarterly tax provision is calculated using an estimated annual tax rate that is adjusted for discrete items occurring during the period to arrive at our effective tax rate. During the three and nine months ended July 31, 2021, we had effective tax rates of 9.7% and 28.9%, respectively, resulting in a tax benefit of $1.5 million and a tax provision of $37.4 million, respectively. During the three and nine months ended July 31, 2020, we had effective tax rates of 29.9% and (444.6)%, respectively, resulting in provisions for taxes of $24.0 million and $43.2 million, respectively. The effective tax rate for the nine months ended July 31, 2020, excluding an impairment loss of non-deductible goodwill of $163.8 million, was 28.0%. The difference between the effective tax rate and statutory rate is primarily related to tax credits. The rate difference between periods is driven by decreased income in 2021. Our effective tax rate for the three months ended July 31, 2021, was impacted by a $2.9 million provision from change of tax reserves. Our effective tax rate for the three months ended July 31, 2020, was impacted by a discrete benefit of $0.8 million related to energy efficiency. Our effective tax rate for the nine months ended July 31, 2021, was impacted by a $3.1 million provision from change of tax reserves and a $1.1 million benefit from energy efficiency incentives. Our effective tax rate for the nine months ended July 31, 2020, was impacted by an impairment loss of non-deductible goodwill as described in Note 5, a $1.9 million tax provision related to the Work Opportunity Tax Credit (“WOTC”), and a $1.2 million benefit related to energy efficiency. In response to COVID-19, Congress enacted the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) on March 27, 2020. The CARES Act provides various tax provisions, including payroll tax provisions, which we have evaluated for applicability. Through December 31, 2020, we deferred approximately $132 million of payroll tax, which the CARES Act requires to be remitted in equal parts by December 31, 2021, and December 31, 2022. The CARES Act did not have a material impact on our income tax provision. We plan to reinvest our foreign earnings to fund future non-U.S. growth and expansion, and we do not anticipate remitting such earnings to the United States. While U.S. federal tax expense has been recognized as a result of the Tax Cuts and Jobs Act of 2017, no deferred tax liabilities with respect to federal and state income taxes or foreign withholding taxes have been recognized.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

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+ Details

Segment Information

9 Months Ended

Jul. 31, 2021

Segment Reporting [Abstract]

Segment Information

SEGMENT INFORMATION

Our current reportable segments consist of B&I, T&M, 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, 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.
T&M			T&M provides janitorial, facilities engineering, and parking services to industrial and high-tech manufacturing facilities.
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 mechanical and electrical services. 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)	2021		2020		2021		2020
Revenues
Business & Industry	$	807.7	$	756.9	$	2,413.3	$	2,363.4
Technology & Manufacturing	246.1		243.2		741.6		710.8
Education	208.4		188.6		632.0		596.6
Aviation	175.7		116.4		467.2		539.9
Technical Solutions	146.1		119.2		385.0		383.5
Elimination of inter-segment revenues	(40.9)		(30.1)		(106.1)		(91.1)
	$	1,543.1	$	1,394.1	$	4,533.0	$	4,503.0
Operating (loss) profit
Business & Industry	$	84.7	$	71.6	$	255.6	$	169.1
Technology & Manufacturing	25.5		24.5		79.2		60.9
Education(1)	17.7		18.3		52.8		(56.3)
Aviation(2)	10.3		(8.2)		19.3		(63.0)
Technical Solutions(3)	14.5		13.2		30.8		13.1
Government Services	—		—		(0.1)		—
Corporate(4)	(161.1)		(24.8)		(284.5)		(97.7)
Adjustment for income from unconsolidated affiliates, included in Aviation and Technical Solutions	(0.5)		(0.2)		(1.4)		(2.0)
Adjustment for tax deductions for energy efficient government buildings, included in Technical Solutions	(0.5)		(0.8)		(1.1)		(1.2)
	(9.4)		93.6		150.6		22.8
Income from unconsolidated affiliates	0.5		0.2		1.4		2.0
Interest expense	(6.3)		(13.8)		(22.6)		(34.5)
(Loss) income from continuing operations before income taxes	$	(15.2)	$	80.0	$	129.4	$	(9.7)

(1) Reflects impairment charges totaling $99.3 million on goodwill during the nine months ended July 31, 2020.

(2) Reflects impairment charges totaling $61.1 million on goodwill and intangible assets during the nine months ended July 31, 2020.

(3) Reflects impairment charges totaling $12.4 million on goodwill and intangible assets during the nine months ended July 31, 2020.

(4) Reflects accrued litigation settlement reserve totaling $112.9 million and $142.9 million for the Bucio case during the three and nine months ended July 31, 2021, respectively.

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, restructuring and related costs, certain actuarial adjustments to self-insurance reserves, and direct acquisition costs. Management does not review asset information by segment, therefore we do not present assets in this note.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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+ Details

Subsequent Events	9 Months Ended
Subsequent Events	Jul. 31, 2021
Subsequent Events [Abstract]
Subsequent Events	SUBSEQUENT EVENTSOn August 25, 2021, we entered into a purchase agreement (the “Agreement”) with Crown Building Maintenance Co. and Crown Energy Services, Inc. (collectively, “Able”) and their owners. Under the terms of the Agreement, ABM will acquire Able for $830 million in cash, subject to customary adjustments for working capital and net debt. ABM will finance the acquisition with cash on hand and borrowings from our revolver under the Amended Credit Facility. The parties’ obligations to consummate the acquisition are subject to customary closing conditions, including conditions relating to the expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976.

Basis of Presentation and Significant Accounting Policies (Policies)	9 Months Ended
	Jul. 31, 2021
Accounting Policies [Abstract]
Basis of Presentation	The accompanying unaudited consolidated financial statements have been prepared in accordance with (i) United States generally accepted accounting principles (“U.S. GAAP”) for interim financial information and (ii) the instructions to Form 10-Q and Article 10 of Regulation S-X. In the opinion of our management, our unaudited consolidated financial statements and accompanying notes (the “Financial Statements”) include all normal recurring adjustments that are necessary for the fair statement of the interim periods presented. Interim results of operations are not necessarily indicative of results for the full year. The Financial Statements should be read in conjunction with our audited consolidated financial statements (and notes thereto) in our Annual Report on Form 10-K for the year ended October 31, 2020. Unless otherwise indicated, all references to years are to our fiscal years, which end on October 31.
Discontinued Operations	Following the sale of our Security business in 2015, we record all costs associated with this former business in discontinued operations. Such costs generally relate to litigation we retained and insurance reserves.
Management Reimbursement Revenue by Segment and Remaining Performance Obligations	We operate certain parking facilities under management reimbursement arrangements. Under these arrangements, we manage the parking facilities for management fees and pass through the revenues and expenses associated with the facilities to the owners. At July 31, 2021, performance obligations that were unsatisfied or partially unsatisfied for which we expect to recognize revenue totaled $284.7 million. We expect to recognize revenue on approximately 74% of the remaining performance obligations over the next 12 months, with the remainder recognized thereafter, based on our estimates of project timing. These amounts exclude variable consideration primarily related to: (i) contracts where we have determined that the contract consists of a series of distinct service periods and revenues are based on future performance that cannot be estimated at contract inception; (ii) parking contracts where we and the customer share the gross revenues or operating profit for the location; and (iii) contracts where transaction prices include performance incentives that are based on future performance and therefore cannot be estimated at contract inception. We apply the practical expedient that permits exclusion of information about the remaining performance obligations with original expected durations of one year or less.
Recently Adopted Accounting Standards	The Financial Accounting Standards Board (“FASB”) issued ASU No. 2016-13, Financial Instruments—Credit Losses (Topic 326) in June 2016 and subsequently issued these amendments to the initial guidance: ASU 2018-19, ASU 2019-04, ASU 2019-05, ASU 2019-11, and ASU 2020-03 (collectively, “Topic 326”). Topic 326 replaces the existing incurred loss impairment model with a methodology that incorporates all expected credit loss estimates, resulting in more timely recognition of losses. Under Topic 326, an organization is required to measure all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the reported financial assets. It also requires credit losses related to available-for-sale debt securities to be recorded through an allowance for credit losses. We adopted this standard effective November 1, 2020, on a modified retrospective basis. The asset and liability classes that we have identified to be in the scope of Topic 326 at the time of the adoption are trade accounts receivable, costs incurred in excess of amounts billed, guarantees, reinsurance recoverables, and notes receivable. The adoption of this standard did not have a material impact on our consolidated financial statements. In August 2018, the FASB issued ASU No. 2018-15, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract. This accounting update aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. The guidance also specifies that the presentation of capitalized implementation costs and the related amortization on the balance sheet, income statement, and statement of cash flows should align with the presentation of the hosting (service) element of the arrangement. We adopted this standard effective November 1, 2020, on a prospective basis. The adoption of the standard did not have a material impact on our consolidated financial statements. No other recently adopted accounting standards have had a significant impact on our fiscal 2021 consolidated financial statements.
Revenues	We have arrangements under various contract types, as described in Note 2, “Basis of Presentation and Significant Accounting Policies,” in our Annual Report on Form 10-K for the year ended October 31, 2020. Certain arrangements involve variable consideration (primarily per transaction fees, reimbursable expenses, and sales-based royalties). We do not estimate the variable consideration for these arrangements; rather, we recognize these variable fees as they are earned. The majority of our contracts include performance obligations that are primarily satisfied over time as we provide the related services. These contract types include: monthly fixed-price; square-foot; cost-plus; work orders; transaction-price; hourly; management reimbursement; leased location; allowance; energy savings contracts; and fixed-price repair and refurbishment contracts, as well as our franchise and royalty fee arrangements. We recognize revenue as the services are performed using a measure of progress that is determined by the contract type. Generally, most of our contracts are cancelable by either party without a substantive penalty, and the majority have a notification period of 30 to 60 days. We primarily account for our performance obligations under the series guidance, using the as-invoiced practical expedient when applicable. We apply the as-invoiced practical expedient to record revenue as the services are provided, given the nature of the services provided and the frequency of billing under the customer contracts. Under this practical expedient, we recognize revenue in an amount that corresponds directly with the value to the customer of our performance completed to date and for which we have the right to invoice the customer. The timing of revenue recognition, billings, and cash collections results in contract assets and contract liabilities, as further explained below. The timing of revenue recognition may differ from the timing of invoicing to customers. Contract assets primarily consist of billed trade receivables, unbilled trade receivables, and costs incurred in excess of amounts billed. Billed and unbilled trade receivables represent amounts from work completed in which we have an unconditional right to bill our customer. Costs incurred in excess of amounts billed typically arise when the revenue recognized on projects exceeds the amount billed to the customer. These amounts are transferred to billed trade receivables when the rights become unconditional. Contract assets also include the capitalization of incremental costs of obtaining a contract with a customer, primarily commissions. Commissions expense is recognized on a straight-line basis over a weighted average expected customer relationship period. Contract liabilities consist of deferred revenue and advance payments and billings in excess of revenue recognized. We generally classify contract liabilities as current since the related contracts are generally for a period of one year or less. Contract liabilities decrease as we recognize revenue from the satisfaction of the related performance obligation.

- Definition

Disclosure of accounting policy for revenue from contract with customer.

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+ Details

Basis of Presentation and Significant Accounting Policies (Tables)

9 Months Ended

Jul. 31, 2021

Accounting Policies [Abstract]

Schedule of Management Reimbursement Revenue by Segment

These revenues and expenses are reported in equal amounts as costs reimbursed from our managed locations:


	Three Months Ended July 31,				Nine Months Ended July 31,
(in millions)	2021		2020		2021		2020
Business & Industry	$	47.5	$	42.6	$	134.1	$	178.0
Aviation	13.4		14.8		39.9		61.4
Total	$	60.9	$	57.4	$	174.1	$	239.3

Revenues (Tables)

9 Months Ended

Jul. 31, 2021

Revenue from Contract with Customer [Abstract]

Revenue from External Customers by Major Service Lines and Segments


	Three Months Ended July 31, 2021												Nine Months Ended July 31, 2021
(in millions)	B&I		T&M		Education		Aviation		Technical Solutions		Total		B&I		T&M		Education		Aviation		Technical Solutions		Total

Major Service Line
Janitorial(1)	$	650.4	$	197.6	$	181.6	$	28.7	$	—	$	1,058.3	$	1,941.7	$	591.8	$	553.4	$	86.9	$	—	$	3,173.8
Parking(2)	76.4		9.2		0.2		66.9		—		152.8		213.7		30.9		0.6		184.2		—		429.5
Facility Services(3)	80.8		39.3		26.7		7.5		—		154.2		257.5		118.9		78.1		21.2		—		475.7
Building & Energy Solutions(4)	—		—		—		—		146.1		146.1		—		—		—		—		385.0		385.0
Airline Services(5)	0.1		—		—		72.6		—		72.7		0.3		—		—		174.8		—		175.1
	$	807.7	$	246.1	$	208.4	$	175.7	$	146.1	$	1,584.1	$	2,413.3	$	741.6	$	632.0	$	467.2	$	385.0	$	4,639.1
Elimination of inter-segment revenues											(40.9)												(106.1)
Total											$	1,543.1											$	4,533.0


	Three Months Ended July 31, 2020												Nine Months Ended July 31, 2020
(in millions)	B&I		T&M		Education		Aviation		Technical Solutions		Total		B&I		T&M		Education		Aviation		Technical Solutions		Total

Major Service Line
Janitorial(1)	$	596.9	$	197.1	$	165.7	$	26.9	$	—	$	986.6	$	1,786.9	$	573.1	$	529.4	$	91.2	$	—	$	2,980.5
Parking(2)	67.7		8.5		0.2		46.9		—		123.3		290.7		24.0		1.5		203.1		—		519.4
Facility Services(3)	92.2		37.6		22.7		6.3		—		158.8		285.5		113.7		65.7		24.8		—		489.7
Building & Energy Solutions(4)	—		—		—		—		119.2		119.2		—		—		—		—		383.5		383.5
Airline Services(5)	0.1		—		—		36.2		—		36.3		0.3		—		—		220.7		—		221.0
	$	756.9	$	243.2	$	188.6	$	116.4	$	119.2	$	1,424.2	$	2,363.4	$	710.8	$	596.6	$	539.9	$	383.5	$	4,594.1
Elimination of inter-segment revenues											(30.1)												(91.1)
Total											$	1,394.1											$	4,503.0

Contract with Customer, Asset and Liability

The following tables present the balances in our contract assets and contract liabilities:


(in millions)	July 31, 2021		October 31, 2020
Contract assets
Billed trade receivables(1)	$	826.7	$	835.8
Unbilled trade receivables(1)	115.3		53.9
Costs incurred in excess of amounts billed(2)	43.0		52.2
Capitalized commissions(3)	26.9		25.2

(2) Fluctuation is primarily due to the timing of payments on our contracts measured using the cost-to-cost method of revenue recognition.


(in millions)	Nine Months Ended July 31, 2021
Contract liabilities(1)
Balance at beginning of period	$	36.4
Additional contract liabilities	134.1
Recognition of deferred revenue	(114.9)
Balance at end of period	$	55.6

(1) Included in other accrued liabilities on the unaudited Consolidated Balance Sheets.

Net Income (Loss) Per Common Share (Tables)

9 Months Ended

Jul. 31, 2021

Earnings Per Share [Abstract]

Schedule of Basic and Diluted Net Income (Loss) Per Common Share Calculations

Basic and Diluted Net Income (Loss) Per Common Share Calculations


	Three Months Ended July 31,				Nine Months Ended July 31,
(in millions, except per share amounts)	2021		2020		2021		2020
(Loss) income from continuing operations	$	(13.7)	$	56.0	$	92.0	$	(52.9)
Income from discontinued operations, net of taxes	—		—		—		0.1
Net (loss) income	$	(13.7)	$	56.0	$	92.0	$	(52.8)

Weighted-average common and common equivalent shares outstanding — Basic	67.5		66.9		67.3		66.9
Effect of dilutive securities(1)
Restricted stock units	—		0.1		0.4		—
Stock options	—		0.1		—		—
Performance shares	—		0.1		0.1		—
Weighted-average common and common equivalent shares outstanding — Diluted	67.5		67.2		67.8		66.9

Net (loss) income per common share — Basic
(Loss) income from continuing operations	$	(0.20)	$	0.84	$	1.37	$	(0.79)
Income from discontinued operations	—		—		—		—
Net (loss) income	$	(0.20)	$	0.84	$	1.37	$	(0.79)

Net (loss) income per common share — Diluted
(Loss) income from continuing operations	$	(0.20)	$	0.83	$	1.36	$	(0.79)
Income from discontinued operations	—		—		—		—
Net (loss) income	$	(0.20)	$	0.83	$	1.36	$	(0.79)

Schedule of Anti-Dilutive Outstanding Stock Awards Issued Under Share-Based Compensation Plans

Anti-Dilutive Outstanding Stock Awards Issued Under Share-Based Compensation Plans


	Three Months Ended July 31,		Nine Months Ended July 31,
(in millions)	2021	2020	2021	2020
Anti-dilutive	—	0.4	—	0.6

Fair Value of Financial Instruments (Tables)

9 Months Ended

Jul. 31, 2021

Fair Value Disclosures [Abstract]

Schedule of Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis

Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis


(in millions)	Fair Value Hierarchy	July 31, 2021		October 31, 2020
Cash and cash equivalents(1)	1	$	505.4	$	394.2
Insurance deposits(2)	1	0.7		0.7
Assets held in funded deferred compensation plan(3)	1	2.8		2.6
Credit facility(4)	2	660.0		725.3
Interest rate swap liabilities(5)	2	7.2		15.5

(1) Cash and cash equivalents are stated at nominal value, which equals fair value.

Insurance (Tables)

9 Months Ended

Jul. 31, 2021

Insurance [Abstract]

Schedule of Insurance Related Balances and Activity

Insurance Related Balances and Activity


(in millions)	July 31, 2021		October 31, 2020
Insurance claim reserves, excluding medical and dental	$	488.8	$	504.9
Medical and dental claim reserves	10.5		16.6
Insurance recoverables	67.4		70.1

Schedule of Instruments Used to Collateralize Insurance Obligations

Instruments Used to Collateralize Our Insurance Obligations


(in millions)	July 31, 2021		October 31, 2020
Standby letters of credit	$	139.0	$	143.6
Surety bonds	83.8		82.6
Restricted insurance deposits	0.7		0.7
Total	$	223.5	$	226.9

Credit Facility (Tables)

9 Months Ended

Jul. 31, 2021

Debt Disclosure [Abstract]

Schedule of Credit Facility Information

Credit Facility Information


(in millions)	July 31, 2021		October 31, 2020
Current portion of long-term debt
Gross term loan	$	32.5	$	120.0
Unamortized deferred financing costs	(1.1)		(3.3)
Current portion of term loan	$	31.4	$	116.7

Long-term debt
Gross term loan	$	609.4	$	560.0
Unamortized deferred financing costs	(3.7)		(2.3)
Total noncurrent portion of term loan	605.6		557.7
Revolving line of credit(1)(2)	18.2		45.3
Long-term debt	$	623.8	$	603.0

(1) Standby letters of credit amounted to $148.8 million at July 31, 2021.

(2) At July 31, 2021, we had borrowing capacity of $1.1 billion, reflecting covenant restrictions.

Schedule of Term Loan Maturities

As of July 31, 2021, the following principal payments are required under the term loan.


(in millions)	2021		2022		2023		2024		2025		2026
Debt maturities	$	8.1	$	32.5	$	32.5	$	32.5	$	32.5	$	503.8

Schedule of Interest Rate Swap Information

Notional Amount

Fixed Interest Rate

Effective Date

Maturity Date

$ 90.0 million

2.84%

November 1, 2018

October 31, 2021

$ 130.0 million

2.86%

November 1, 2018

April 30, 2022

$ 130.0 million

2.84%

November 1, 2018

September 1, 2022

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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+ Details

Segment Information (Tables)

9 Months Ended

Jul. 31, 2021

Segment Reporting [Abstract]

Schedule of Financial Information by Reportable Segment

Our current reportable segments consist of B&I, T&M, 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, 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.
T&M			T&M provides janitorial, facilities engineering, and parking services to industrial and high-tech manufacturing facilities.
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 mechanical and electrical services. 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)	2021		2020		2021		2020
Revenues
Business & Industry	$	807.7	$	756.9	$	2,413.3	$	2,363.4
Technology & Manufacturing	246.1		243.2		741.6		710.8
Education	208.4		188.6		632.0		596.6
Aviation	175.7		116.4		467.2		539.9
Technical Solutions	146.1		119.2		385.0		383.5
Elimination of inter-segment revenues	(40.9)		(30.1)		(106.1)		(91.1)
	$	1,543.1	$	1,394.1	$	4,533.0	$	4,503.0
Operating (loss) profit
Business & Industry	$	84.7	$	71.6	$	255.6	$	169.1
Technology & Manufacturing	25.5		24.5		79.2		60.9
Education(1)	17.7		18.3		52.8		(56.3)
Aviation(2)	10.3		(8.2)		19.3		(63.0)
Technical Solutions(3)	14.5		13.2		30.8		13.1
Government Services	—		—		(0.1)		—
Corporate(4)	(161.1)		(24.8)		(284.5)		(97.7)
Adjustment for income from unconsolidated affiliates, included in Aviation and Technical Solutions	(0.5)		(0.2)		(1.4)		(2.0)
Adjustment for tax deductions for energy efficient government buildings, included in Technical Solutions	(0.5)		(0.8)		(1.1)		(1.2)
	(9.4)		93.6		150.6		22.8
Income from unconsolidated affiliates	0.5		0.2		1.4		2.0
Interest expense	(6.3)		(13.8)		(22.6)		(34.5)
(Loss) income from continuing operations before income taxes	$	(15.2)	$	80.0	$	129.4	$	(9.7)

(1) Reflects impairment charges totaling $99.3 million on goodwill during the nine months ended July 31, 2020.

(2) Reflects impairment charges totaling $61.1 million on goodwill and intangible assets during the nine months ended July 31, 2020.

(3) Reflects impairment charges totaling $12.4 million on goodwill and intangible assets during the nine months ended July 31, 2020.

(4) Reflects accrued litigation settlement reserve totaling $112.9 million and $142.9 million for the Bucio case during the three and nine months ended July 31, 2021, respectively.

The Company and Nature of Operations (Details)	9 Months Ended
The Company and Nature of Operations (Details)	Jul. 31, 2021 industry_group segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of industry groups \| industry_group	4
Number of technical solutions segments \| segment	1

Basis of Presentation and Significant Accounting Policies (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2021	Jul. 31, 2020
Segment Reporting Information [Line Items]
Revenues	$ 1,543.1	$ 1,394.1	$ 4,533.0	$ 4,503.0
Management Reimbursement Revenue
Segment Reporting Information [Line Items]
Revenues	60.9	57.4	174.1	239.3
Management Reimbursement Revenue \| Business & Industry
Segment Reporting Information [Line Items]
Revenues	47.5	42.6	134.1	178.0
Management Reimbursement Revenue \| Aviation
Segment Reporting Information [Line Items]
Revenues	$ 13.4	$ 14.8	$ 39.9	$ 61.4

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

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+ Details

Revenues - Disaggregation of Revenue (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2021	Jul. 31, 2020
Revenue from External Customer [Line Items]
Revenues	$ 1,543.1	$ 1,394.1	$ 4,533.0	$ 4,503.0
Operating Segments
Revenue from External Customer [Line Items]
Revenues	1,584.1	1,424.2	4,639.1	4,594.1
Operating Segments \| Business & Industry
Revenue from External Customer [Line Items]
Revenues	807.7	756.9	2,413.3	2,363.4
Operating Segments \| Technology & Manufacturing
Revenue from External Customer [Line Items]
Revenues	246.1	243.2	741.6	710.8
Operating Segments \| Education
Revenue from External Customer [Line Items]
Revenues	208.4	188.6	632.0	596.6
Operating Segments \| Aviation
Revenue from External Customer [Line Items]
Revenues	175.7	116.4	467.2	539.9
Operating Segments \| Technical Solutions
Revenue from External Customer [Line Items]
Revenues	146.1	119.2	385.0	383.5
Operating Segments \| Janitorial
Revenue from External Customer [Line Items]
Revenues	1,058.3	986.6	3,173.8	2,980.5
Operating Segments \| Janitorial \| Business & Industry
Revenue from External Customer [Line Items]
Revenues	650.4	596.9	1,941.7	1,786.9
Operating Segments \| Janitorial \| Technology & Manufacturing
Revenue from External Customer [Line Items]
Revenues	197.6	197.1	591.8	573.1
Operating Segments \| Janitorial \| Education
Revenue from External Customer [Line Items]
Revenues	181.6	165.7	553.4	529.4
Operating Segments \| Janitorial \| Aviation
Revenue from External Customer [Line Items]
Revenues	28.7	26.9	86.9	91.2
Operating Segments \| Janitorial \| Technical Solutions
Revenue from External Customer [Line Items]
Revenues	0.0	0.0	0.0	0.0
Operating Segments \| Parking
Revenue from External Customer [Line Items]
Revenues	152.8	123.3	429.5	519.4
Operating Segments \| Parking \| Business & Industry
Revenue from External Customer [Line Items]
Revenues	76.4	67.7	213.7	290.7
Operating Segments \| Parking \| Technology & Manufacturing
Revenue from External Customer [Line Items]
Revenues	9.2	8.5	30.9	24.0
Operating Segments \| Parking \| Education
Revenue from External Customer [Line Items]
Revenues	0.2	0.2	0.6	1.5
Operating Segments \| Parking \| Aviation
Revenue from External Customer [Line Items]
Revenues	66.9	46.9	184.2	203.1
Operating Segments \| Parking \| Technical Solutions
Revenue from External Customer [Line Items]
Revenues	0.0	0.0	0.0	0.0
Operating Segments \| Facility Services
Revenue from External Customer [Line Items]
Revenues	154.2	158.8	475.7	489.7
Operating Segments \| Facility Services \| Business & Industry
Revenue from External Customer [Line Items]
Revenues	80.8	92.2	257.5	285.5
Operating Segments \| Facility Services \| Technology & Manufacturing
Revenue from External Customer [Line Items]
Revenues	39.3	37.6	118.9	113.7
Operating Segments \| Facility Services \| Education
Revenue from External Customer [Line Items]
Revenues	26.7	22.7	78.1	65.7
Operating Segments \| Facility Services \| Aviation
Revenue from External Customer [Line Items]
Revenues	7.5	6.3	21.2	24.8
Operating Segments \| Facility Services \| Technical Solutions
Revenue from External Customer [Line Items]
Revenues	0.0	0.0	0.0	0.0
Operating Segments \| Building & Energy Solutions
Revenue from External Customer [Line Items]
Revenues	146.1	119.2	385.0	383.5
Operating Segments \| Building & Energy Solutions \| Business & Industry
Revenue from External Customer [Line Items]
Revenues	0.0	0.0	0.0	0.0
Operating Segments \| Building & Energy Solutions \| Technology & Manufacturing
Revenue from External Customer [Line Items]
Revenues	0.0	0.0	0.0	0.0
Operating Segments \| Building & Energy Solutions \| Education
Revenue from External Customer [Line Items]
Revenues	0.0	0.0	0.0	0.0
Operating Segments \| Building & Energy Solutions \| Aviation
Revenue from External Customer [Line Items]
Revenues	0.0	0.0	0.0	0.0
Operating Segments \| Building & Energy Solutions \| Technical Solutions
Revenue from External Customer [Line Items]
Revenues	146.1	119.2	385.0	383.5
Operating Segments \| Airline Services
Revenue from External Customer [Line Items]
Revenues	72.7	36.3	175.1	221.0
Operating Segments \| Airline Services \| Business & Industry
Revenue from External Customer [Line Items]
Revenues	0.1	0.1	0.3	0.3
Operating Segments \| Airline Services \| Technology & Manufacturing
Revenue from External Customer [Line Items]
Revenues	0.0	0.0	0.0	0.0
Operating Segments \| Airline Services \| Education
Revenue from External Customer [Line Items]
Revenues	0.0	0.0	0.0	0.0
Operating Segments \| Airline Services \| Aviation
Revenue from External Customer [Line Items]
Revenues	72.6	36.2	174.8	220.7
Operating Segments \| Airline Services \| Technical Solutions
Revenue from External Customer [Line Items]
Revenues	0.0	0.0	0.0	0.0
Intersegment Eliminations
Revenue from External Customer [Line Items]
Revenues	$ (40.9)	$ (30.1)	$ (106.1)	$ (91.1)

Revenues - Remaining Performance Obligations Narrative (Details) $ in Millions	Jul. 31, 2021 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 284.7
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-08-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, percentage	74.00%
Revenue, remaining performance obligation, period	12 months

Revenues - Contract with Customer, Asset and Liability (Details) - USD ($)	9 Months Ended
	Jul. 31, 2021	Oct. 31, 2020
Revenue from Contract with Customer [Abstract]
Billed trade receivables	$ 826,700,000	$ 835,800,000
Unbilled trade receivables	115,300,000	53,900,000
Costs incurred in excess of amounts billed	43,000,000.0	52,200,000
Capitalized commissions	26,900,000	$ 25,200,000
Capitalized contract price	11,900,000
Capitalized contract cost, amortization	10,200,000
Capitalized contract cost, impairment loss	0
Contract with Customer, Liabilities [Roll Forward]
Contract liabilities, balance at beginning of period	36,400,000
Additional contract liabilities	134,100,000
Recognition of deferred revenue	(114,900,000)
Contract liabilities, balance at end of period	$ 55,600,000

Net Income (Loss) Per Common Share - Calculations of Basic and Diluted Net Income Per Common Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2021	Jul. 31, 2020
Schedule of Earnings Per Share, Basic and Diluted, by Common Class [Line Items]
(Loss) income from continuing operations	$ (13.7)	$ 56.0	$ 92.0	$ (52.9)
Income from discontinued operations, net of taxes	0.0	0.0	0.0	0.1
Net (loss) income	$ (13.7)	$ 56.0	$ 92.0	$ (52.8)
Weighted-average common and common equivalent shares outstanding — Basic (in shares)	67.5	66.9	67.3	66.9
Effect of dilutive securities
Weighted-average common and common equivalent shares outstanding — Diluted (in shares)	67.5	67.2	67.8	66.9
Net (loss) income per common share — Basic
(Loss) income from continuing operations (in USD per share)	$ (0.20)	$ 0.84	$ 1.37	$ (0.79)
Income from discontinued operations (in USD per share)	0	0	0	0
Net (loss) income (in USD per share)	(0.20)	0.84	1.37	(0.79)
Net (loss) income per common share — Diluted
(Loss) income from continuing operations (in USD per share)	(0.20)	0.83	1.36	(0.79)
Income from discontinued operations (in USD per share)	0	0	0	0
Net (loss) income (in USD per share)	$ (0.20)	$ 0.83	$ 1.36	$ (0.79)
Restricted stock units
Effect of dilutive securities
Effect of dilutive securities (in shares)	0.0	0.1	0.4	0.0
Stock options
Effect of dilutive securities
Effect of dilutive securities (in shares)	0.0	0.1	0.0	0.0
Performance shares
Effect of dilutive securities
Effect of dilutive securities (in shares)	0.0	0.1	0.1	0.0

Net Income (Loss) Per Common Share - Anti-Dilutive Outstanding Stock Awards Issued Under Share-Based Compensation Plans (Details) - shares shares in Millions	3 Months Ended		9 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2021	Jul. 31, 2020
Earnings Per Share [Abstract]
Anti-dilutive (in shares)	0.0	0.4	0.0	0.6

Fair Value of Financial Instruments - Financial Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Millions	Jul. 31, 2021	Oct. 31, 2020
Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	$ 505.4	$ 394.2
Insurance deposits	0.7	0.7
Assets held in funded deferred compensation plan	2.8	2.6
Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Credit facility	660.0	725.3
Interest rate swap liabilities	$ 7.2	$ 15.5

Fair Value of Financial Instruments - Narrative (Details)	3 Months Ended		9 Months Ended
	Jul. 31, 2021 USD ($)	Apr. 30, 2020 USD ($) reportingUnit	Jul. 31, 2021 USD ($)	Jul. 31, 2020 USD ($)	Oct. 31, 2020 USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment loss on fixed assets			$ 9,100,000	$ 0
Carrying value of fixed assets	$ 111,800,000		111,800,000		$ 133,700,000
Goodwill reporting units \| reportingUnit		3
Goodwill, impairment loss		$ 163,800,000
Education
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Goodwill, impairment loss		99,300,000		$ 99,300,000
Aviation
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Goodwill, impairment loss		55,500,000
Impairment of intangible assets		5,600,000
Impairment of intangible assets, gross		13,800,000
Impairment of intangible assets, accumulated amortization		8,200,000
Technical Solutions
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Goodwill, impairment loss		9,000,000
Impairment of intangible assets		3,400,000
Impairment of intangible assets, gross		8,700,000
Impairment of intangible assets, accumulated amortization		$ 5,300,000
Corporate \| Internal Use Software
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment loss on fixed assets	9,100,000		9,100,000
Carrying value of fixed assets	$ 0		$ 0

Insurance - Narrative (Details) - USD ($) $ in Millions	9 Months Ended
Insurance - Narrative (Details) - USD ($) $ in Millions	Jul. 31, 2021	Jul. 31, 2020
Schedule of Other Liabilities [Line Items]
Insurance policy coverage, general and automobile liability losses	$ 200.0
Insurance policy coverage, property damage	75.0
Change in case reserves plus IBNR Claims — prior years	29.7
Decrease in total reserve claims		$ 15.1
Minimum
Schedule of Other Liabilities [Line Items]
Self insurance retention amount per-claim	1.0
Primary policy limit	1.0
Maximum
Schedule of Other Liabilities [Line Items]
Self insurance retention amount per-claim	1.5
Primary policy limit	5.0
Self insurance retention amount per-claim, medical plan	$ 0.5

Insurance - Insurance Related Balances and Activity (Details) - USD ($) $ in Millions	Jul. 31, 2021	Oct. 31, 2020
Liability for Claims and Claims Adjustment Expense [Line Items]
Insurance recoverables	$ 67.4	$ 70.1
Insurance claim reserves, excluding medical and dental
Liability for Claims and Claims Adjustment Expense [Line Items]
Insurance claim reserves	488.8	504.9
Medical and dental claim reserves
Liability for Claims and Claims Adjustment Expense [Line Items]
Insurance claim reserves	$ 10.5	$ 16.6

Insurance - Instruments Used to Collateralize Insurance Obligations (Details) - USD ($) $ in Millions	Jul. 31, 2021	Oct. 31, 2020
Letters Of Credit [Line Items]
Instruments used to collateralize insurance obligations	$ 223.5	$ 226.9
Standby letters of credit
Letters Of Credit [Line Items]
Instruments used to collateralize insurance obligations	139.0	143.6
Surety bonds
Letters Of Credit [Line Items]
Instruments used to collateralize insurance obligations	83.8	82.6
Restricted insurance deposits
Letters Of Credit [Line Items]
Instruments used to collateralize insurance obligations	$ 0.7	$ 0.7

Credit Facility - Narrative (Details)	Jun. 28, 2021 USD ($)	Sep. 01, 2017 USD ($)	Jul. 31, 2021 USD ($)	Jun. 27, 2021 USD ($)	Sep. 01, 2018 USD ($)	Aug. 31, 2017 USD ($)
Line of Credit Facility [Line Items]
Deferred financing costs			$ 12,600,000
Line of Credit
Line of Credit Facility [Line Items]
Deferred financing costs			7,700,000
Term Loan
Line of Credit Facility [Line Items]
Deferred financing costs			$ 4,900,000
Prior Credit Facility \| Revolving Credit Facility \| Line of Credit
Line of Credit Facility [Line Items]
Line of credit facility, borrowing capacity						$ 800,000,000
Credit Facility
Line of Credit Facility [Line Items]
Line of credit facility, term		5 years
Credit Facility \| Term Loan
Line of Credit Facility [Line Items]
Debt instrument, face amount		$ 800,000,000		$ 620,000,000
Deferred financing costs	$ 6,200,000
Credit Facility \| Revolving Credit Facility \| Line of Credit
Line of Credit Facility [Line Items]
Line of credit facility, borrowing capacity		$ 900,000,000		$ 800,000,000	$ 800,000,000
Amendment
Line of Credit Facility [Line Items]
Weighted average interest rate			1.59%
Total net leverage ratio	5.00
Secured net leverage ratio	4.00
Interest coverage ratio	1.50
Deferred financing costs	$ 6,400,000
Amendment \| Scenario, Material Acquisition
Line of Credit Facility [Line Items]
Total net leverage ratio	5.50
Secured net leverage ratio	4.50
Amendment \| Term Loan
Line of Credit Facility [Line Items]
Debt instrument, face amount	$ 650,000,000
Amendment \| Revolving Credit Facility \| Line of Credit
Line of Credit Facility [Line Items]
Line of credit facility, borrowing capacity	1,300,000,000
Amendment \| Standby Letters of Credit
Line of Credit Facility [Line Items]
Line of credit facility, borrowing capacity	350,000,000
Amendment \| Swing Line Loan
Line of Credit Facility [Line Items]
Line of credit facility, borrowing capacity	$ 75,000,000
Amendment \| Minimum \| Revolving Credit Facility
Line of Credit Facility [Line Items]
Commitment fee percentage on unused portion of the Facility	0.20%
Amendment \| Maximum \| Revolving Credit Facility
Line of Credit Facility [Line Items]
Commitment fee percentage on unused portion of the Facility	0.40%
Amendment \| Eurodollar \| Minimum
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.375%
Amendment \| Eurodollar \| Maximum
Line of Credit Facility [Line Items]
Basis spread on variable rate	2.25%
Amendment \| Base Rate \| Minimum
Line of Credit Facility [Line Items]
Basis spread on variable rate	0.375%
Amendment \| Base Rate \| Maximum
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.25%

Credit Facility - Credit Facility Information (Details) - USD ($) $ in Millions	Jul. 31, 2021	Oct. 31, 2020
Current portion of long-term debt
Gross term loan	$ 32.5	$ 120.0
Unamortized deferred financing costs	(1.1)	(3.3)
Current portion of term loan	31.4	116.7
Long-term debt
Gross term loan	609.4	560.0
Unamortized deferred financing costs	(3.7)	(2.3)
Total noncurrent portion of term loan	605.6	557.7
Revolving line of credit	18.2	45.3
Long-term debt	623.8	$ 603.0
Standby letters of credit	148.8
Borrowing capacity	$ 1,100.0

Credit Facility - Term Loan Maturities (Details) $ in Millions	3 Months Ended	9 Months Ended
	Jul. 31, 2021 USD ($)	Jul. 31, 2021 USD ($)
Debt Instrument [Line Items]
Debt instrument, periodic payment, principal	$ 8.1	$ 68.1
Term Loan
Term Loan Maturities
2021	8.1	8.1
2022	32.5	32.5
2023	32.5	32.5
2024	32.5	32.5
2025	32.5	32.5
2026	$ 503.8	$ 503.8

Credit Facility - Interest Rate Swaps (Details)	Nov. 01, 2018 USD ($)
Interest Rate Swap, Maturity October 31, 2021
Line of Credit Facility [Line Items]
Notional Amount	$ 90,000,000.0
Fixed Interest Rate	2.84%
Interest Rate Swap, Maturity April 30, 2022
Line of Credit Facility [Line Items]
Notional Amount	$ 130,000,000.0
Fixed Interest Rate	2.86%
Interest Rate Swap, Maturity September 1, 2022
Line of Credit Facility [Line Items]
Notional Amount	$ 130,000,000.0
Fixed Interest Rate	2.84%

Credit Facility - Interest Rate Swaps Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2021	Jul. 31, 2020	Oct. 31, 2020
Line of Credit Facility [Line Items]
Interest expense	$ 6.3	$ 13.8	$ 22.6	$ 34.5
Interest rate cash flow hedge gain (loss) to be reclassified during next 12 months, net	(0.6)		(0.6)
Tax to be reclassified during the next 12 months	(0.1)		(0.1)
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent
Line of Credit Facility [Line Items]
Net loss from cash flow hedges recorded in accumulated other comprehensive loss, net of tax			(0.9)		$ (3.3)
Tax related to amounts in accumulated other comprehensive loss			0.1		$ (0.9)
Interest expense	(1.2)	1.2	(3.5)	(3.6)
Interest expense, tax	$ 0.4	$ 0.5	$ 1.3	$ (1.4)

Commitments and Contingencies (Details)			3 Months Ended	9 Months Ended
Commitments and Contingencies (Details)	Jul. 07, 2021 USD ($)	Sep. 20, 2018 subclass	Jul. 31, 2021 USD ($)	Jul. 31, 2021 USD ($)
Loss Contingencies [Line Items]
Standby letters of credit			$ 148,800,000	$ 148,800,000
Surety bonds			679,800,000	679,800,000
Bucio
Loss Contingencies [Line Items]
Loss contingency, number of certified subclasses \| subclass		4
Energy Savings Contracts
Loss Contingencies [Line Items]
Guarantee obligation			238,000,000	238,000,000
Minimum
Loss Contingencies [Line Items]
Amount of reasonably possible loss			0	0
Maximum
Loss Contingencies [Line Items]
Amount of reasonably possible loss			6,000,000	6,000,000
Pending Litigation
Loss Contingencies [Line Items]
Loss contingency accrual			14,400,000	14,400,000
Settled Litigation \| Bucio
Loss Contingencies [Line Items]
Loss contingency accrual			142,900,000	142,900,000
Settlement amount	$ 140,000,000
Settlement reserve			112,900,000	142,900,000
Settled Litigation \| Bucio \| Other Current Liabilities
Loss Contingencies [Line Items]
Loss contingency accrual			$ 2,900,000	$ 2,900,000

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Income Taxes (Details) - USD ($) $ in Millions	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2021	Dec. 31, 2020	Jul. 31, 2020
Income Tax Disclosure [Abstract]
Effective income tax rate (percent)	9.70%	29.90%	28.90%		(444.60%)
Provisions for taxes	$ (1.5)	$ 24.0	$ 37.4		$ 43.2
Nondeductible impairment					$ 163.8
Effective income tax rate, excluding impairment					28.00%
Effected tax rate, provision from change of tax reserve	$ 2.9		3.1
Effected tax rate, benefit related energy efficiency		$ 0.8	$ 1.1		$ 1.2
Effected tax rate, nondeductible impairment loss, work opportunity tax provision					$ 1.9
Social security tax, employer, deferral, CARES Act				$ 132.0

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Segment Information (Details) - USD ($) $ in Millions	3 Months Ended			9 Months Ended
Segment Information (Details) - USD ($) $ in Millions	Jul. 31, 2021	Jul. 31, 2020	Apr. 30, 2020	Jul. 31, 2021	Jul. 31, 2020
Revenues
Revenues	$ 1,543.1	$ 1,394.1		$ 4,533.0	$ 4,503.0
Operating (loss) profit
Operating (loss) profit	(9.4)	93.6		150.6	22.8
Income from unconsolidated affiliates	0.5	0.2		1.4	2.0
Interest expense	(6.3)	(13.8)		(22.6)	(34.5)
(Loss) income from continuing operations before income taxes	(15.2)	80.0		129.4	(9.7)
Goodwill, impairment loss			$ 163.8
Goodwill and intangible asset impairment loss	0.0	0.0		0.0	172.8
Bucio \| Settled Litigation
Operating (loss) profit
Settlement reserve	112.9			142.9
Education
Operating (loss) profit
Goodwill, impairment loss			99.3		99.3
Aviation
Operating (loss) profit
Goodwill, impairment loss			55.5
Goodwill and intangible asset impairment loss					61.1
Technical Solutions
Operating (loss) profit
Goodwill, impairment loss			$ 9.0
Goodwill and intangible asset impairment loss					12.4
Operating Segments
Revenues
Revenues	1,584.1	1,424.2		4,639.1	4,594.1
Operating Segments \| Business & Industry
Revenues
Revenues	807.7	756.9		2,413.3	2,363.4
Operating (loss) profit
Operating (loss) profit	84.7	71.6		255.6	169.1
Operating Segments \| Technology & Manufacturing
Revenues
Revenues	246.1	243.2		741.6	710.8
Operating (loss) profit
Operating (loss) profit	25.5	24.5		79.2	60.9
Operating Segments \| Education
Revenues
Revenues	208.4	188.6		632.0	596.6
Operating (loss) profit
Operating (loss) profit	17.7	18.3		52.8	(56.3)
Operating Segments \| Aviation
Revenues
Revenues	175.7	116.4		467.2	539.9
Operating (loss) profit
Operating (loss) profit	10.3	(8.2)		19.3	(63.0)
Operating Segments \| Technical Solutions
Revenues
Revenues	146.1	119.2		385.0	383.5
Operating (loss) profit
Operating (loss) profit	14.5	13.2		30.8	13.1
Operating Segments \| Government Services
Operating (loss) profit
Operating (loss) profit	0.0	0.0		(0.1)	0.0
Elimination of inter-segment revenues
Revenues
Revenues	(40.9)	(30.1)		(106.1)	(91.1)
Corporate
Operating (loss) profit
Operating (loss) profit	(161.1)	(24.8)		(284.5)	(97.7)
Segment Reconciling Items
Operating (loss) profit
Income from unconsolidated affiliates	(0.5)	(0.2)		(1.4)	(2.0)
Adjustment for tax deductions for energy efficient government buildings, included in Technical Solutions	$ (0.5)	$ (0.8)		$ (1.1)	$ (1.2)

Subsequent Events (Details) $ in Millions	Aug. 25, 2021 USD ($)
Companies \| Subsequent Event \| Scenario, Plan
Subsequent Event [Line Items]
Cash payment to acquire companies	$ 830