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GOODWILL AND OTHER INTANGIBLE ASSETS - Schedule of Estimated Annual Amortization Expense (Details) $ in Millions	Oct. 31, 2023 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Estimated amortization expense in 2024	$ 54.4
Estimated amortization expense in 2025	47.4
Estimated amortization expense in 2026	41.3
Estimated amortization expense in 2027	35.9
Estimated amortization expense in 2028	$ 30.9

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Policies)

12 Months Ended

Oct. 31, 2023

Accounting Policies [Abstract]

Basis of Presentation

The Financial Statements have been prepared in accordance with United States generally accepted accounting principles (“U.S. GAAP”) and with the rules and regulations of the SEC, specifically Regulation S-X and the instructions to Form 10-K. Unless otherwise indicated, all references to years are to our fiscal year, which ends on October 31.

Principles of Consolidation

The Financial Statements include the accounts of ABM and all of our consolidated subsidiaries. We account for ABM’s investments in unconsolidated affiliates under the equity method of accounting. We include the results of acquired businesses in the Consolidated Statements of Comprehensive Income from their respective acquisition dates. All intercompany accounts and transactions have been eliminated in consolidation.

Use of Estimates

The preparation of consolidated financial statements in accordance with U.S. GAAP requires our management to make certain estimates that affect reported amounts. We base our estimates on historical experience, known or expected trends, independent valuations, and various other assumptions that we believe to be reasonable under the circumstances. As future events and their effects cannot be determined with precision, actual results could differ significantly from these estimates.

Cash and Cash Equivalents

We consider all highly liquid securities with an original maturity of three months or less to be cash and cash equivalents. As part of our cash management system, we use “zero balance” accounts to fund our disbursements. Under this system, at the end of each day the bank balance is zero, while the book balance is usually a negative amount due to reconciling items, such as outstanding checks. We report the changes in these book cash overdrafts as cash flows from financing activities.

Trade Accounts Receivable and Costs Incurred in Excess of Amounts Billed / Allowance for Doubtful Accounts

Trade Accounts Receivable and Costs Incurred in Excess of Amounts Billed

Trade accounts receivable arise from services provided to our clients and are usually due and payable on varying terms from receipt of the invoice to net 90 days, with the exception of certain Technical Solutions project receivables that may have longer collection periods. These receivables are recorded at the invoiced amount and normally do not bear interest. In addition, our trade accounts receivable include unbilled receivables, such as invoices for services that have been provided but are not yet billed.

Costs incurred in excess of amounts billed arise from Technical Solutions project contracts that typically provide for a schedule of billings or invoices to the client based on our performance to date of specific tasks inherent in the fulfillment of our performance obligation(s). The schedules for such billings usually do not precisely match the schedule on which costs are incurred. As a result, revenues generally differ from amounts that can be billed or invoiced to the client at any point during the contract.

Allowance for Doubtful Accounts

We determine the allowance for doubtful accounts based on historical write-offs, known or expected trends, and the identification of specific balances deemed uncollectible. For the specifically identified balances, we establish the reserve upon the earlier of a client’s inability to meet its financial obligations or after a period of 12 months, unless our management believes such amounts will ultimately be collectible.

Sales Allowance

In connection with our service contracts, we periodically issue credit memos to our clients that are recorded as a reduction in revenues and an increase to the allowance for billing adjustments. These credits can result from client vacancy discounts, job cancellations, property damage, and other items. We estimate our potential future losses on these client receivables based on an analysis of the historical rate of sales adjustments (credit memos, net of re-bills) and known or expected trends.

Other Current Assets

At October 31, 2023 and 2022, other current assets primarily consisted of other receivables, short-term insurance recoverables, and capitalized commissions.

Other Investments

At October 31, 2023 and 2022, other investments primarily consisted of preferred equity investments and investments in unconsolidated affiliates and were $28.8 million and $14.5 million, respectively. We did not recognize any impairment charges on these investments in 2023, 2022, or 2021.

Preferred Equity investments

We own non-controlling interests (generally under 20%) in entities that provide specialized services. Our investments do not have readily determinable fair values; therefore, we measure the investment at initial cost less impairment, if any.

Investments in Unconsolidated Affiliates

We own non-controlling interests (generally 20% to 50%) in certain affiliated entities that predominantly provide facility solutions to governmental and commercial clients, primarily in the United States and the Middle East. We have significant influence over such investments and account for them under the equity method of accounting. We evaluate our equity method investments for impairment whenever events or changes in circumstances indicate that the carrying amounts of such investments may not be recoverable. An impairment loss is recognized to the extent that the estimated fair value of the investment is less than its carrying amount and we determine that the impairment is other than temporary.

Property, Plant and Equipment

We record property, plant and equipment at cost. Repairs and maintenance expenditures are expensed as incurred. In contrast, we capitalize major renewals or replacements that substantially extend the useful life of an asset. We determine depreciation for financial reporting purposes using the straight-line method over the following estimated useful lives:


Category			Years
Computer equipment and software			3–7
Machinery and other equipment			3–5
Transportation equipment			1.5–10
Buildings			10–40
Furniture and fixtures			5

In addition, we depreciate assets under finance leases and leasehold improvements over the shorter of their estimated useful lives or the remaining lease term. Upon retirement or sale of an asset, we remove the cost and accumulated depreciation from our Consolidated Balance Sheets. When applicable, we record corresponding gains or losses within the accompanying Consolidated Statements of Comprehensive Income.

Leases

We account for our leases in accordance with ASU 2016-02, Leases (Topic 842). Topic 842 requires lessees to recognize substantially all leases on their balance sheet as a right-of-use (“ROU”) asset and a lease liability. We made the accounting policy election to not recognize leases with an initial term of 12 months or less on the balance sheet and will expense payments for such leases on a straight-line basis over the lease term. We also elected to not separate lease components from non-lease components.

We enter into various noncancelable lease agreements for office space, parking facilities, warehouses, vehicles, and equipment used in the normal course of business. We determine if an arrangement is a lease at inception and begin recording lease activity at the commencement date. ROU assets and lease liabilities are recognized based on the present value of lease payments over the lease term with lease expense recognized on a straight-line basis. The present value of future lease payments is determined using our incremental borrow rate (“IBR”) unless the implicit rate in the lease is readily determinable. Our IBR is equal to our rate of interest adjusted for term differences. This IBR is applied to the minimum lease payments within each lease agreement to determine the amounts of our ROU assets and lease liabilities.

Our lease terms range from one to 30 years. Some leases include options to renew or extend. We typically include extension options in a lease term when it is reasonably certain that we will exercise that option and when doing so is at our sole discretion. Certain equipment and vehicle leases may also include options to purchase the leased property. The depreciable life of assets and leasehold improvements are limited by the expected lease term, unless there is a transfer of title or purchase option reasonably certain of exercise. Typically, if we decide to cancel or terminate a lease before the end of its term, then we would owe the lessor the remaining lease payments under the term of such lease. Our lease agreements generally do not contain any material residual value guarantees or material restrictive covenants. We may rent or sublease certain real estate assets that we no longer use to third parties.

Lease agreements may contain rent escalation clauses, rent holidays, or certain landlord incentives, including tenant improvement allowances. ROU assets include amounts for scheduled rent increases and are reduced by lease incentive amounts.

Certain of our lease agreements include variable rent payments consisting primarily of rental payments adjusted periodically for inflation, maintenance, and utilities. These costs are expensed as incurred. Certain of our parking arrangements also contain variable rent payments that are a percentage of parking services revenue based on contractual levels. We record contingent rent as it becomes probable that specified targets will be met. Variable rent lease components are not included in the lease liability.

Service concession arrangements within the scope of ASU No. 2017-10, Service Concession Arrangements (Topic 853): Determining the Customer of the Operation Services, are excluded from the scope of Topic 842. Lease costs associated with these arrangements are recorded as a reduction of revenues. See Note 4, “Revenues,” for further discussion.

Goodwill and Other Intangible Assets

Goodwill represents the excess purchase price of acquired businesses over the fair value of the assets acquired and liabilities assumed. We have elected to make the first day of our fourth quarter, August 1, the annual impairment assessment date for goodwill. However, we could be required to evaluate the recoverability of goodwill

more often if impairment indicators exist. Goodwill is tested for impairment at a “reporting unit” level by performing either a qualitative evaluation or a quantitative test. The qualitative evaluation is an assessment of factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount. We may elect not to perform the qualitative assessment for some or all reporting units and instead perform a quantitative test under which we estimate the fair value using a weighting of fair values derived from an income approach and a market approach. The discounted estimates of future cash flows include significant management assumptions, such as revenue growth rates, operating margins, weighted average cost of capital, and future economic and market conditions.

Other intangible assets primarily consist of acquired customer contracts and relationships that are amortized using the sum-of-the-years’-digits method over their useful lives, consistent with the estimated useful life considerations used in the determination of their fair values. This accelerated method of amortization reflects the pattern in which the economic benefits from the intangible assets of customer contracts and relationships are expected to be realized. We amortize other non-customer acquired intangibles using a straight-line method of amortization. We evaluate other intangible assets, as well as our long-lived assets, for impairment whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. When this occurs, a recoverability test is performed that compares the projected undiscounted cash flows from the use and eventual disposition of an asset or asset group to its carrying amount. If the projected undiscounted cash flows are less than the carrying amount, then we calculate an impairment loss. The impairment loss calculation compares the fair value, which is based on projected discounted cash flows, to the carrying value.

Other Noncurrent Assets

At October 31, 2023 and 2022, other noncurrent assets primarily consisted of long-term insurance recoverables, interest rate swap assets, capitalized commissions, cloud computing arrangements, prepayments to carriers for future insurance claims, and insurance deposits.

Federal Energy Savings Performance Contract Receivables / Remaining Performance Obligations

Federal Energy Savings Performance Contract Receivables

As part of our Technical Solutions business, we enter into ESPCs with the federal government pursuant to which we agree to develop, design, engineer, and construct a project and to guarantee that the project will satisfy agreed-upon performance standards. ESPC receivables represent the amount to be paid by various federal government agencies for work we have satisfactorily performed under specific ESPCs. We assign certain of our rights to receive those payments to unaffiliated third parties that provide construction financing, which we record as a liability, for such contracts. This construction financing is recorded as cash flows from financing activities, while the use of the cash received to pay project costs under these arrangements is classified as operating cash flows. The ESPC receivable is recognized as revenue as each project is constructed. Upon completion and acceptance of the project by the government and upon satisfaction of true sale criteria, the assigned ESPC receivable from the government and corresponding ESPC liability are eliminated from our consolidated financial statements.

Remaining Performance Obligations

At October 31, 2023, performance obligations that were unsatisfied or partially unsatisfied for which we expect to recognize revenue totaled $332.8 million. We expect to recognize revenue on approximately 69% 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.

Fair Value of Financial Instruments

Fair value is the price we would receive to sell an asset or pay to transfer a liability in an orderly transaction with a market participant at the measurement date. In the absence of active markets for identical assets or liabilities, such measurements involve developing assumptions based on market observable data and, in the absence of such data, internal information that is consistent with what market participants would use in a hypothetical transaction that occurs at the measurement date.

Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect our market assumptions. Preference is given to observable inputs. These two types of inputs create the following fair value hierarchy:

Level 1 – Quoted prices for identical instruments in active markets;

Level 2 – Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations whose inputs are observable or whose significant value drivers are observable; and

Level 3 – Significant inputs to the valuation model are unobservable.

Insurance Reserves

We use a combination of insured and self-insurance programs to cover workers’ compensation, general liability, automobile liability, property damage, and other insurable risks. Insurance claim liabilities represent our estimate of retained risks without regard to insurance coverage. We retain a substantial portion of the risk related to certain workers’ compensation and medical claims. Liabilities associated with these losses include estimates of both filed claims and IBNR Claims.

With the assistance of third-party actuaries, we review our estimate of ultimate losses for IBNR Claims on a quarterly basis and adjust our required self-insurance reserves as appropriate. See Note 10, “Insurance,” for further details on the quarterly review procedures. As part of this evaluation, we review the status of existing and new claim reserves as established by third-party claims administrators. The third-party claims administrators establish the case reserves based upon known factors related to the type and severity of the claims, demographic factors, legislative matters, and case law, as appropriate. We compare actual trends to expected trends and monitor claims developments. The specific case reserves estimated by the third-party administrators are provided to an actuary who assists us in projecting an actuarial estimate of the overall ultimate losses for our self-insured or high deductible programs, which includes the case reserves plus an actuarial estimate of reserves required for additional developments, such as IBNR Claims. We utilize the results of actuarial studies to estimate our insurance rates and insurance reserves for future periods and to adjust reserves, if appropriate, for prior years.

In general, our insurance reserves are recorded on an undiscounted basis. We allocate current-year insurance expense to our operating segments based upon their underlying exposures, while actuarial adjustments related to prior year claims are recorded within Corporate expenses. We classify claims as current or long-term based on the expected settlement date. Estimated insurance recoveries related to recorded liabilities are reflected as assets in our Consolidated Balance Sheets when we believe the receipt of such amounts is probable.

Other Accrued Liabilities

At October 31, 2023 and 2022, other accrued liabilities primarily consisted of contract liabilities, employee benefits, ESPC liabilities, unclaimed property, legal fees and settlements, and dividends payable.

Other Noncurrent Liabilities

At October 31, 2023 and 2022, other noncurrent liabilities primarily consisted of deferred compensation, contingent consideration liability, long-term finance leases, and retirement plan liabilities.

Contracts with Customers

We account for a contract when it has approval and commitment from both parties, the rights of the parties are identified, payment terms are identified, the contract has commercial substance, and collectability of consideration is probable. Once a contract is identified, we evaluate whether it is a combined or single contract and whether it should be accounted for as more than one performance obligation. Generally, most of our contracts are cancelable by either party without a substantive penalty, and the majority of our contracts have a notification period of 30 to 90 days. If a contract includes a cancellation clause, the remaining contract term is limited to the required termination notice period.

At contract inception, we assess the services promised to our customers and identify a performance obligation for each promise to transfer to the customer a service, or a bundle of services, that is distinct. To identify the performance obligation, we consider all of our services promised in the contract, regardless of whether they are explicitly stated or are implied by customary business practices.

The majority of our contracts contain multiple promises that represent an integrated bundle of services comprised of activities that may vary over time; however, these activities fulfill a single integrated performance obligation since we perform a continuous service that is substantially the same and has the same pattern of transfer to the customer. Our performance obligations are primarily satisfied over time as we provide the related services.

We allocate the contract transaction price to this single performance obligation and recognize revenue as the services are performed, as further described in “Contract Types” below.

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 in the period they are earned. Some of our contracts, often related to Airline Services, may also include performance incentives based on variable performance measures that are ascertained exclusively by future performance and therefore cannot be estimated at contract inception and are recognized as revenue once known and mutually agreed upon. We include estimated amounts in the transaction price to the extent it is probable that a significant reversal of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is resolved. Our estimates of variable consideration and determination of whether to include estimated amounts in the transaction price are based largely on an assessment of our anticipated performance and all information (historical, current, and forecasted) that is reasonably available to us.

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.

We typically bill customers on a monthly basis and have the right to consideration from customers in an amount that corresponds directly with the performance obligation satisfied to date. The time between completion of the performance obligation and collection of cash is generally 30 to 60 days. Sales-based taxes are excluded from revenue.

Contracts generally can be modified to account for changes in specifications and requirements. We consider contract modifications to exist when the modification either changes the consideration, creates new performance obligations, or changes the existing scope of the contract and related performance obligations. Historically, contract modifications have been for services that are not distinct from the existing contract, since we are providing a bundle of services that are highly interrelated, and are therefore treated as if they were part of that existing contract. Such modifications are generally accounted for retrospectively as part of the existing contract.

Contract Types

We have arrangements under various contract types, as described below.

Monthly Fixed-Price

Monthly fixed-price arrangements are contracts in which the client agrees to pay a fixed fee every month over a specified contract term. We measure progress toward satisfaction of the performance obligation as the services are provided, and revenue is recognized at the agreed-upon contractual amount over time, because the customer simultaneously receives and consumes the benefits of the services as they are performed.

Square-Foot

Square-foot arrangements are contracts in which the client agrees to pay a fixed fee every month based on the actual square footage serviced over a specified contract term. We measure progress toward satisfaction of the performance obligation as the services are provided, and revenue is recognized at the agreed-upon contractual amount over time, because the customer simultaneously receives and consumes the benefits of the services as they are performed.

Cost-Plus

Cost-plus arrangements are contracts in which the clients reimburse us for the agreed-upon amount of wages and benefits, payroll taxes, insurance charges, and other expenses associated with the contracted work, plus a profit margin. We measure progress toward satisfaction of the performance obligation as the services are provided, and revenue is recognized at the agreed-upon contractual amount over time, because the customer simultaneously receives and consumes the benefits of the services as they are performed.

Work Orders

Work orders generally consist of supplemental services requested by clients outside of the standard service specification and include cleanup after tenant moves, construction cleanup, flood cleanup, and snow removal. The nature of these short-term contracts involves performing one-off type services, and revenue is recognized at the agreed-upon contractual amount over time as the services are provided, because the customer simultaneously receives and consumes the benefits of the services as they are performed.

Transaction-Price

Transaction-price contracts are arrangements in which customers are billed a fixed price for each transaction performed on a monthly basis (e.g., wheelchair passengers served, airplane cabins cleaned). We measure progress toward satisfaction of the performance obligation as the services are provided, and revenue is recognized at the agreed-upon contractual amount over time, because the customer simultaneously receives and consumes the benefits of the services as they are performed.

Hourly

Hourly arrangements are contracts in which the client is billed a fixed hourly rate for each labor hour provided. We measure progress toward satisfaction of the performance obligation as the services are provided, and revenue is recognized at the agreed-upon contractual amount over time, because the customer simultaneously receives and consumes the benefits of the services as they are performed.

Management Reimbursement

Under management reimbursement arrangements, we manage a parking facility for a management fee and pass through the revenue and expenses associated with the facility to the owner. We measure progress toward satisfaction of the performance obligation over time as the services are provided. Under these contracts we recognize both revenues and expenses, in equal amounts, that are directly reimbursed from the property owner for operating expenses, as such expenses are incurred. Such revenues do not include gross customer collections at the managed locations, because they belong to the property owners. We have determined we are the principal in these transactions, because the nature of our performance obligation is for us to provide the services on behalf of the customer and we have control of the promised services before they are transferred to the customer.

Management reimbursement revenue was $302.3 million, $280.6 million, and $240.3 million during 2023, 2022, and 2021, respectively.

Leased Location

Under leased location parking arrangements, we pay a fixed amount of rent, plus a percentage of revenues derived from monthly and transient parkers, to the property owner. We retain all revenues received and we are responsible for most operating expenses incurred. We measure progress toward satisfaction of the performance obligation as the services are provided, and revenue is recognized over time, because the customer simultaneously receives and consumes the benefits of the services as they are performed.

Rental expense and certain other expenses under contracts that meet the definition of service concession arrangements are recorded as a reduction of revenue.

Allowance

Under allowance parking arrangements, we are paid a fixed amount or hourly rate to provide parking services, and we are responsible for certain operating expenses that are specified in the contract. We measure progress toward satisfaction of the performance obligation as the services are provided, and revenue is recognized at the agreed-upon contractual rate over time, because the customer simultaneously receives and consumes the benefits of the services as they are performed.

Energy Savings Contracts and Fixed-Price Repair and Refurbishment

Under energy savings contracts and fixed-price repair and refurbishment arrangements, we agree to develop, design, engineer, and construct a project. Additionally, as part of bundled energy solutions arrangements, we guarantee the project will satisfy agreed-upon performance standards.

We use the cost-to-cost method, which compares the actual costs incurred to date with the current estimate of total costs to complete, to measure the satisfaction of the performance obligation and recognize revenue as work progresses and we incur costs on our contracts; we believe this method best reflects the transfer of control to the customer. This measurement and comparison process requires updates to the estimate of total costs to complete the contract, and these updates may include subjective assessments and judgments. Equipment purchased for these projects is project-specific and considered a value-added element to our work. Equipment costs are incurred when the title is transferred to us, typically upon delivery to the work site. Revenue for uninstalled equipment is recognized at cost and the associated margin is deferred until installation is substantially complete.

We recognize revenue over time for all of our services as we perform them, because (i) control continuously transfers to the customer as work progresses, or (ii) we have the right to bill the customer as costs are incurred. The customer typically controls the work in process, as evidenced either by contractual termination clauses or by our rights to payment for work performed to date plus a reasonable profit to deliver products or services that do not have an alternative use to us.

Certain project contracts include a schedule of billings or invoices to the customer based on our job-to-date percentage of completion of specific tasks inherent in the fulfillment of our performance obligation(s) or in accordance with a fixed billing schedule. Fixed billing schedules may not precisely match the actual costs incurred. Therefore, revenue recognized may differ from amounts that can be billed or invoiced to the customer at any point during the contract, resulting in balances that are considered revenue recognized in excess of amounts billed or amounts billed in excess of revenue recognized. Advanced payments from our customers generally do not represent a significant financing component as the payments are used to meet working capital demands that can be higher in the early stages of a contract, as well as to protect us from our customer failing to meet its obligations under the contract.

Certain projects include service maintenance agreements under which existing systems are repaired and maintained for a specific period of time. We generally recognize revenue under these arrangements over time. Our service maintenance agreements are generally one-year renewable agreements.

Franchise

We franchise certain engineering services through individual and area franchises under the Linc Service and TEGG brands, which are part of ABM Technical Solutions. Initial franchise fees result from the sale of a franchise license and include the use of the name, trademarks, and proprietary methods. The franchise license is considered symbolic intellectual property, and revenue related to the sale of this right is recognized at the agreed-upon contractual amount over the term of the initial franchise agreement.

Royalty fee revenue consists of sales-based royalties received as part of the consideration for the franchise right, which is calculated as a percentage of the franchisees’ revenue. We recognize royalty fee revenue at the agreed-upon contractual rates over time as the customer revenue is generated by the franchisees. A receivable is recognized for an estimate of the unreported royalty fees, which are reported and remitted to us in arrears.

Microgrid Systems Installation

We provide electrical contracting services for energy related products such as the installation of solar solutions, battery storage, distributed generation, and other specialized electric trades.

Costs to Obtain a Contract with a Customer

We capitalize the incremental costs of obtaining a contract with a customer, primarily commissions, as contract assets and recognize the expense on a straight-line basis over a weighted average expected customer relationship period. Capitalized commissions are classified as current or noncurrent based on the timing of when we expect to recognize the expense.

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. If a contract includes a cancellation clause that allows for the termination of the contract by either party without a substantive penalty, then the contract term is limited to the termination notice period.

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.

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.

Advertising

Advertising costs are expensed as incurred.

Share-Based Compensation

Our current share-based awards principally consist of restricted stock units (“RSUs”) and performance share awards. We recognize compensation costs associated with these awards in selling, general and administrative expenses. For RSUs and performance share awards, the amount of compensation cost is measured based on the grant-date fair value of the equity instruments issued. Since our total shareholder return (“TSR”) performance share awards are performance awards with a market condition, the compensation costs associated with these awards are determined using a Monte Carlo simulation valuation model. For RSUs and TSR performance share awards, compensation cost is recognized over the period that an employee provides service in exchange for the award. We recognize compensation cost associated with other performance share awards over the requisite service period based on the probability of achievement of performance criteria.

Taxes Collected from Clients and Remitted to Governmental Agencies

We record taxes on client transactions due to governmental agencies as receivables and liabilities on the Consolidated Balance Sheets.

Net Income Per Common Share

Basic net income per common share is net income divided by the weighted-average number of common shares outstanding during the period. Diluted net income per common share is based on the weighted-average number of common shares outstanding during the period, adjusted to include the potential dilution from the conversion of RSUs, vesting of performance shares, and exercisable stock options.

Contingencies and Litigation

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. We accrue for loss contingencies when losses become probable and are reasonably estimable. If the reasonable estimate of the loss is a range and no amount within the range is a better estimate, then the minimum amount of the range is recorded as a liability. We recognize legal costs as an expense in the period incurred.

Income Taxes

We account for income taxes using the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to temporary differences between the financial statement

carrying amount of existing assets and liabilities and their respective tax bases. We measure deferred tax assets and liabilities using enacted tax rates expected to be applied to taxable income in the years in which those temporary differences are expected to be recovered. Deferred tax assets are reviewed for recoverability on a quarterly basis. A valuation allowance is recorded to reduce the carrying amount of a deferred tax asset to its realizable value unless it is more likely than not that such asset will be realized. We recognize accrued interest and penalties related to unrecognized tax benefits in income tax expense in our Consolidated Statements of Comprehensive Income.

Employee Retention Tax Credit

In 2020, the U.S. government enacted the Coronavirus Aid, Relief and Security Act (the “CARES Act”) to provide certain relief as a result of the COVID-19 pandemic. The CARES Act provides tax relief, along with other stimulus measures, including a provision for an Employee Retention Credit (“ERC”). ERC is a refundable tax credit for employers who kept employees on their payroll during the COVID-19 pandemic.

Recently Adopted and Issued Accounting Standards

Recently Adopted Accounting Standards

In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848), Facilitation of the Effects of Reference Rate Reform on Financial Reporting. This ASU provides optional expedients to assist with the discontinuance of London Interbank Offered Rate (“LIBOR”). The expedients allow companies to ease the potential accounting burden when modifying contracts and hedging relationships that use LIBOR as a reference rate, if certain criteria are met. In January 2021, FASB issued ASU 2021-01, Reference Rate Reform (Topic 848): Scope. This ASU clarifies that derivatives affected by the discounting transition are explicitly eligible for certain optional expedients and exceptions under Topic 848. Effective November 1, 2022, we applied available practical expedients under Topic 848 to account for modifications, changes in critical terms, and updates to the designated hedged risks as qualifying changes have been made to applicable debt and derivative contracts as if they were not substantial.

Recently Issued Accounting Standards

In September 2022, the FASB issued ASU 2022-04, Liabilities — Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations, designed to enhance transparency around supplier finance programs by requiring new disclosures that would allow a user of the financial statements to understand the program’s nature, activity during the period, changes from period to period, and potential magnitude. This ASU is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years, except for the amendment on rollforward information, which is effective for fiscal years beginning after December 15, 2023, with early adoption permitted. We are currently evaluating the impact of implementing this guidance on our financial statements; however, we do not expect adoption to have a material impact.

In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. This accounting update improves reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. This ASU requires disclosure, on an annual and interim basis, of significant segment expenses that are regularly provided to the chief operating decision maker, and an amount for other segment items by reportable segment, with a description of its composition. This ASU is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. We are currently evaluating the impact of implementing this guidance on our financial statements; however, we do not expect adoption to have a material impact.

We do not expect any other recently issued accounting pronouncements to have a material impact on our consolidated financial statements and related disclosures.

ACQUISITIONS AND DISPOSITIONS

12 Months Ended

Oct. 31, 2023

Business Combination and Asset Acquisition [Abstract]

ACQUISITIONS AND DISPOSITIONS

Acquisition of RavenVolt

On September 1, 2022, we completed the acquisition of all of the equity interests of RavenVolt, Inc. (“RavenVolt”), a nationwide provider of advanced turn-key microgrid systems utilized by diversified commercial and industrial customers, national retailers, utilities, and municipalities. RavenVolt’s operations are included within our Technical Solutions segment. The transaction met the definition of a business combination. We applied the acquisition method of accounting.

The initial purchase price for the acquisition was approximately $170.0 million in cash at closing (subject to customary working capital and net debt adjustments) plus the potential of post-closing contingent consideration of up to $280.0 million. The post closing contingent consideration is payable in cash in calendar years 2024, 2025, and 2026 if RavenVolt’s earnings before interest, taxes, depreciation, and amortization (EBITDA), as defined in the RavenVolt merger agreement, meets or exceeds certain defined targets. The maximum contingent consideration that is payable in calendar years 2024, 2025, and 2026 is $75.0 million, $75.0 million, and $130.0 million, respectively. If the EBITDA achieved for calendar years 2023 - 2025 cumulatively meets the defined EBITDA targets, the entire $280.0 million would be paid in calendar year 2026, minus any earn-out payments made in 2024 and 2025.

To estimate the fair value of the contingent consideration on the date of acquisition, we used the Real Options method. The key assumptions used in our valuation were: i) forecast of revenues and EBITDA margins; ii) the volatility associated with the EBITDA; iii) risk-adjusted discount rate applied to forecasted EBITDA; and (iv) the credit-adjusted discount rate related to the payment of the contingent consideration. A simulation of one million scenarios was performed with the assistance of a third-party valuation specialist, resulting in a fair value for the cumulative contingent consideration for calendar years 2023 through 2025 totaling $59.0 million. There were no material adjustments to the fair value of the contingent consideration from September 1, 2022 to October 31, 2022.

At October 31, 2023, the estimate of the fair value of the contingent consideration was $13.4 million. Results of operations subsequent to the acquisition date and changes to management’s forecasts, as well as the accretion of the liability, resulted in a total decrease in fair value of $45.6 million. This decrease is recognized within the “Selling, general and administrative expenses” of the Consolidated Statements of Comprehensive Income. We do not expect the RavenVolt business to achieve the financial targets for calendar year 2023, and as such we do not expect contingent consideration to be payable in the next 12 months.

Final Acquisition Accounting

The assets acquired and liabilities assumed were recognized at their acquisition date fair values. Goodwill arising from the RavenVolt Acquisition is not deductible for tax reporting purposes. There were no material changes made to preliminary acquisition accounting.

The following table summarizes the final acquisition accounting:


(in millions)


Cash and cash equivalents	$	29.0
Trade accounts receivable	16.5
Other assets	3.8
Intangible assets	16.7
Goodwill	207.4
Trade accounts payable	(5.2)
Deferred revenue	(31.6)
Other accrued liabilities	(3.2)
Deferred income tax liability, net	(4.5)
Net assets acquired	$	228.9

Acquisition of Momentum

Effective April 7, 2022, we acquired Maybin Support Services Limited, Momentum Support Limited (UK), and Momentum Property Support Services Limited (collectively “Momentum”), a leading independent provider of

facility services, primarily janitorial, across Ireland and Northern Ireland, for a purchase price of approximately $54.8 million. We have completed the acquisition accounting, and recorded final goodwill and intangibles of $42.9 million and $10.4 million, respectively. The total assets acquired, excluding goodwill and intangibles, and liabilities assumed amounted to $20.4 million and $18.9 million, respectively. Goodwill is not deductible for income tax purposes. There were no material changes made to preliminary acquisition accounting.

Disposition of Assets

During 2022, we sold a group of customer contracts for healthcare technology management within our Technical Solutions segment for $8.5 million and recognized a gain of $7.6 million, which is included in “Selling, general and administrative expenses” in the accompanying Consolidated Statements of Comprehensive Income.

Acquisition of Able

On September 30, 2021, we completed the Able Acquisition for a net cash purchase price of $741.7 million. Pursuant to the terms of the purchase agreement, approximately $12.1 million of the cash consideration was placed into escrow accounts, of which approximately $8.2 million was placed into escrow to satisfy any applicable indemnification claims for a period of 12 months. To fund the cash purchase price, we used cash on hand and borrowed $325.0 million on September 30, 2021, at an average interest rate of 1.58% from our revolving line of credit.

FAIR VALUE OF FINANCIAL INSTRUMENTS - Narrative (Details) - USD ($)	3 Months Ended		12 Months Ended
	Jan. 31, 2022	Jul. 31, 2021	Oct. 31, 2023	Oct. 31, 2022	Oct. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Reallocation of goodwill				$ 0
Goodwill			$ 2,491,300,000	2,485,600,000	$ 2,228,900,000
Non-cash impairment charge			0	0	9,100,000
Carrying value of fixed assets			131,500,000	125,400,000
Corporate \| Internal Use Software
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Non-cash impairment charge		$ 9,100,000
Carrying value of fixed assets					0
M&D
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Reallocation of goodwill				95,000,000.0
Goodwill	$ 502,200,000		502,200,000	502,200,000	407,200,000
M&D \| Reorganization of Business Segments, From B&I Segment
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Reallocation of goodwill	95,000,000
M&D \| Reorganization of Business Segments, From T&M Segment
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Goodwill	407,200,000
B&I
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Reallocation of goodwill				(95,000,000.0)
Goodwill			$ 1,092,900,000	$ 1,087,800,000	$ 1,129,800,000
B&I \| Reorganization of Business Segments, From B&I Segment
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Reallocation of goodwill	$ (95,000,000)

Cover Page - USD ($)	12 Months Ended
Cover Page - USD ($)	Oct. 31, 2023	Dec. 15, 2023	Apr. 30, 2023
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Oct. 31, 2023
Current Fiscal Year End Date	--10-31
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 Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
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
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction Flag	false
Entity Shell Company	false
Entity Public Float			$ 2,778,907,185
Entity Common Stock, Shares Outstanding (in shares)		62,861,118
Documents Incorporated by Reference	Certain parts of the registrant’s Definitive Proxy Statement relating to the registrant’s 2024 Annual Meeting of Stockholders are incorporated by reference into Part III of this Annual Report on Form 10-K.
Entity Central Index Key	0000771497
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Amendment Flag	false

INCOME TAXES - Schedule of Reconciliation of Total Unrecognized Tax Benefits (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2023	Oct. 31, 2022	Oct. 31, 2021
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Beginning balance	$ 22.0	$ 30.4	$ 35.5
Additions for tax positions related to the current year	0.0	0.0	3.7
Additions for tax positions related to prior years	2.1	0.3	0.3
Reductions for tax positions related to prior years	(1.5)	(1.5)	(5.3)
Reductions for lapse of statute of limitations	(1.9)	(7.2)	(2.5)
Settlements	0.0	0.0	(1.3)
Ending Balance	$ 20.7	$ 22.0	$ 30.4

INCOME TAXES (Tables)

12 Months Ended

Oct. 31, 2023

Income Tax Disclosure [Abstract]

Schedule of Geographic Sources of Income Before Income Taxes

Geographic Sources of Income Before Income Taxes


	Years Ended October 31,
(in millions)	2023		2022		2021
United States	$	294.3	$	278.5	$	152.8
Foreign	36.8		31.5		27.0
Income before income taxes	$	331.1	$	310.0	$	179.8

Schedule of Components of Income Tax Provision

Components of Income Tax Provision


	Years Ended October 31,
(in millions)	2023		2022		2021
Current:
Federal	$	(50.6)	$	3.5	$	(66.3)
State	(25.0)		(6.0)		(27.4)
Foreign	(9.0)		(9.4)		(7.8)
Deferred:
Federal	(0.5)		(46.1)		34.9
State	5.3		(22.1)		13.2
Foreign	0.1		0.5		(0.1)
Income tax provision	$	(79.7)	$	(79.6)	$	(53.5)

Schedule of Reconciliation of U.S. Statutory Tax Rate to Annual Effective Tax Rate

Reconciliation of the U.S. Statutory Tax Rate to Annual Effective Tax Rate


	Years Ended October 31,
	2023		2022		2021
U.S. statutory rate	21.0	%	21.0	%	21.0	%
State and local income taxes, net of federal tax benefit	6.9		7.7		6.8
Federal and state tax credits	(1.0)		(1.5)		(2.6)
Impact of foreign operations	0.8		(0.1)		0.3
Changes in uncertain tax positions	0.1		(2.5)		1.5
Incremental tax benefit from share-based compensation awards	(0.7)		(0.5)		(0.4)
Energy efficiency incentives	(0.1)		(0.3)		(0.7)
Nondeductible executive compensation	1.4		1.4		0.4
Nontaxable RavenVolt contingent consideration	(3.9)		—		—
Other nondeductible expenses	0.6		0.3		2.3
Other, net	(1.0)		0.2		1.2
Effective tax rate	24.1	%	25.7	%	29.8	%

Schedule of Components of Deferred Tax Assets and Liabilities

Components of Deferred Tax Assets and Liabilities


	As of October 31,
(in millions)	2023		2022
Deferred tax assets attributable to:
Self-insurance claims (net of recoverables)	$	95.2	$	96.1
Deferred and other compensation	31.4		33.0
Accounts receivable allowances	7.8		5.8
Settlement liabilities	4.5		10.4
Other accruals	4.3		4.8

State taxes	1.5		1.2
State net operating loss carryforwards	2.6		3.2
Tax credits	2.3		3.1
Unrecognized tax benefits	3.6		3.3
Deferred payroll taxes	—		18.1
Operating lease liabilities	27.3		31.0
Gross deferred tax assets	180.5		210.0
Valuation allowance	(1.2)		(1.6)
Total deferred tax assets	179.3		208.4

Deferred tax liabilities attributable to:
Property, plant and equipment	(4.3)		(5.4)
Goodwill and other acquired intangibles	(200.0)		(222.9)
Right-of-use assets	(28.6)		(31.9)
Tax accounting method change	(11.7)		(17.1)
Other comprehensive Income	(8.4)		(9.0)
Other	(11.3)		(11.8)
Total deferred tax liabilities	(264.3)		(298.1)

Net deferred tax liabilities	$	(85.0)	$	(89.7)

Schedule of Changes to the Valuation Allowance

Changes to the Valuation Allowance


	Years Ended October 31,
(in millions)	2023		2022		2021
Valuation allowance at beginning of year	$	1.6	$	2.2	$	4.1
Other, net	(0.4)		(0.6)		(1.9)
Valuation allowance at end of year	$	1.2	$	1.6	$	2.2

Schedule of Reconciliation of Total Unrecognized Tax Benefits

Reconciliation of Total Unrecognized Tax Benefits


	Years Ended October 31,
(in millions)	2023		2022		2021
Balance at beginning of year	$	22.0	$	30.4	$	35.5
Additions for tax positions related to the current year	—		—		3.7
Additions for tax positions related to prior years	2.1		0.3		0.3
Reductions for tax positions related to prior years	(1.5)		(1.5)		(5.3)
Reductions for lapse of statute of limitations	(1.9)		(7.2)		(2.5)
Settlements	—		—		(1.3)
Balance at end of year	$	20.7	$	22.0	$	30.4

FAIR VALUE OF FINANCIAL INSTRUMENTS - Schedule of Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Millions	Oct. 31, 2023	Oct. 31, 2022	Sep. 01, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Preferred equity investments	$ 15.4
RavenVolt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent Consideration			$ 59.0
Privately Held Company
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Preferred equity investments	12.4
Fair Value Measurements, Recurring \| Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	69.5	$ 73.0
Insurance deposits	3.1	0.9
Assets held in funded deferred compensation plan	4.0	4.1
Fair Value Measurements, Recurring \| Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt facilities	1,313.8	1,271.3
Interest rate swaps assets	36.4	36.9
Fair Value Measurements, Recurring \| Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Preferred equity investments	15.4	3.0
Contingent Consideration	13.4	$ 59.0
Fair Value Measurements, Recurring \| Fair Value, Inputs, Level 3 \| RavenVolt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent Consideration	$ 13.4

INCOME TAXES - Schedule of Geographic Sources of Income Before Income Taxes / Schedule of Reconciliation of U.S. Statutory Tax Rate to Annual Effective Tax Rate (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2023	Oct. 31, 2022	Oct. 31, 2021
Income Tax Disclosure [Abstract]
United States	$ 294.3	$ 278.5	$ 152.8
Foreign	36.8	31.5	27.0
Income before income taxes	331.1	310.0	179.8
Current:
Federal	(50.6)	3.5	(66.3)
State	(25.0)	(6.0)	(27.4)
Foreign	(9.0)	(9.4)	(7.8)
Deferred:
Federal	(0.5)	(46.1)	34.9
State	5.3	(22.1)	13.2
Foreign	0.1	0.5	(0.1)
Income tax provision	$ (79.7)	$ (79.6)	$ (53.5)

INSURANCE - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
INSURANCE - Narrative (Details) - USD ($) $ in Millions	Oct. 31, 2023	Oct. 31, 2022	Oct. 31, 2021	Nov. 01, 2023
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	14.8	$ 36.8	$ 36.0
Minimum
Schedule of Other Liabilities [Line Items]
Self insurance retention amount per-claim	1.0
Primary policy limit	1.0
Minimum \| Subsequent Event
Schedule of Other Liabilities [Line Items]
Self insurance retention amount per-claim				$ 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
Maximum \| Subsequent Event
Schedule of Other Liabilities [Line Items]
Self insurance retention amount per-claim				$ 5.0

SHARE-BASED COMPENSATION PLANS (Tables)

12 Months Ended

Oct. 31, 2023

Share-Based Payment Arrangement [Abstract]

Schedule of Compensation Expense by Type of Award and Related Income Tax Benefit

Compensation Expense by Type of Award and Related Income Tax Benefit


	Years Ended October 31,
(in millions)	2023		2022		2021
RSUs	$	17.7	$	18.5	$	17.6
Performance shares	12.7		12.0		15.8

Share-based compensation expense before income taxes	30.5		30.5		33.5
Income tax benefit	(8.6)		(8.6)		(9.4)
Share-based compensation expense, net of taxes	$	21.8	$	21.9	$	24.1

Schedule of RSU Activity

RSU Activity


	Number of Shares (in millions)	Weighted-Average Grant Date Fair Value per Share
Outstanding at October 31, 2022	1.0	$	38.58
Granted	0.5	44.37
Vested (including 0.2 shares withheld for income taxes)	(0.4)	38.80

Forfeited	(0.1)	42.71
Outstanding at October 31, 2023	1.0	$	41.09

Schedule of Performance Share Activity

Performance Share Activity


	Number of Shares (in millions)	Weighted-Average Grant Date Fair Value per Share
Outstanding at October 31, 2022	1.0	$	41.30
Granted	0.4	46.47
Vested (including 0.1 shares withheld for income taxes)	(0.4)	38.08
Performance adjustments	—	52.78
Forfeited	—	42.30
Outstanding at October 31, 2023	0.9	$	44.43

Schedule of Monte Carlo Assumptions

In 2023, 2022, and 2021, we used the Monte Carlo simulation valuation technique to estimate the fair value of TSR performance share grants, which used the assumptions in the table below.

Monte Carlo Assumptions


	2023			2022			2021
Expected life(1)	2.81 years			2.81 years			2.81 years
Expected stock price volatility(2)	39.9		%	41.8		%	42.9		%

Risk-free interest rate(3)	4.0		%	1.1		%	0.2		%
Stock price(4)	$	46.19		$	42.88		$	40.75

(1) The expected life represents the remaining performance period of the awards.

(2) The expected volatility for each grant is determined based on the historical volatility of our common stock over a period equal to the remaining term of the performance period from the date of grant for all awards.

(3) The risk-free interest rate is based on the continuous compounded yield on U.S. Treasury Constant Maturity Rates with varying remaining terms; the yield is determined over a time period commensurate with the performance period from the grant date.

(4) The stock price is the closing price of our common stock on the valuation date.

Schedule of Employee Stock Purchase Plan

Employee Stock Purchase Plan


	Years Ended October 31,
(in millions, except per share amounts)	2023		2022		2021
Weighted-average fair value of granted purchase rights per share	$	2.23	$	2.19	$	2.17
Common stock issued	0.1		0.1		0.1
Fair value of common stock issued per share	$	42.40	$	41.68	$	41.18
Aggregate purchases	$	3.4	$	3.4	$	3.3

INSURANCE - Schedule of Casualty Program Insurance Reserves Rollforward (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2023	Oct. 31, 2022	Oct. 31, 2021
Liability for Unpaid Claims and Claims Adjustment Expense [Roll Forward]
Net balance at beginning of year	$ 479.9	$ 508.3	$ 434.8
Change in case reserves plus IBNR Claims — current year	154.2	145.7	117.9
Change in case reserves plus IBNR Claims — prior years	(14.8)	(36.8)	(36.0)
Claims paid	(131.4)	(129.1)	(99.8)
Acquisition	0.0	(8.2)	91.6
Net balance at end of year	487.9	479.9	508.3
Recoverables	67.1	71.0	66.5
Gross balance at end of year	555.0	551.0	574.8
Reserves related to discontinued operations	$ 0.1	$ 0.2	$ 0.3

LEASES

12 Months Ended

Oct. 31, 2023

Leases [Abstract]

LEASES

The components of lease assets and liabilities and their classification on our Consolidated Balance Sheets were as follows:


		As of October 31,
(in millions)	Classification	2023		2022
Lease assets
Operating leases	Right-of-use assets	$	113.4	$	115.2
Finance leases	Property, plant and equipment, net(1)	15.2		10.0
Total lease assets		$	128.6	$	125.2

Lease liabilities
Current liabilities
Operating leases	Current portion of lease liabilities	$	32.5	$	30.3
Finance leases	Other accrued liabilities	3.1		2.8
Noncurrent liabilities
Operating leases	Long-term lease liabilities	98.8		104.5
Finance leases	Other noncurrent liabilities	11.1		6.4
Total lease liabilities		$	145.5	$	144.1

(1) Finance lease assets are recorded net of accumulated amortization of $18.9 million and $16.9 million as of October 31, 2023 and October 31, 2022, respectively.

The components of lease costs and classification within the Consolidated Statements of Comprehensive Income were as follows:


	Years Ended October 31,
(in millions)	2023		2022
Operating lease costs:
Operating expenses(1)(2)	$	70.6	$	60.2
Selling, general and administrative expenses(3)	25.4		25.7
Finance lease costs:
Operating expenses(4)	2.4		1.7

Interest expense(5)	0.5		0.4
Total lease costs	$	99.0	$	88.1

(1) Related to certain parking arrangements.

(2) Includes short-term lease costs and variable lease costs.

(3) Includes short-term lease costs.

(4) Represents amortization of leased assets.

(5) Interest on lease liabilities.

The following table presents information on short-term and variable lease costs:


	Years Ended October 31,
(in millions)	2023		2022
Short-term lease costs	$	53.5	$	43.3
Variable lease costs	6.4		6.0
Total short-term and variable lease costs	$	59.9	$	49.3

Sublease income generated during the year ended October 31, 2023, was immaterial.

The amounts of future undiscounted cash flows related to the lease payments over the lease terms and the reconciliation to the present value of the lease liabilities as recorded on our Consolidated Balance Sheets as of October 31, 2023, are as follows:


(in millions)	Operating Lease Liabilities		Finance Lease Liabilities		Total
Fiscal 2024	$	38.5	$	3.8	$	42.2
Fiscal 2025	27.9		3.8		31.7
Fiscal 2026	25.8		3.0		28.8
Fiscal 2027	19.4		1.4		20.8
Fiscal 2028	13.2		1.4		14.6
Thereafter	27.4		2.6		29.9
Total lease payments	152.1		15.9		168.0
Less: imputed interest	20.8		1.7		22.5
Present value of lease liabilities	$	131.3	$	14.2	$	145.5

Future sublease rental income was excluded for the periods shown above as the amounts are immaterial.

We have entered into operating lease arrangements as of October 31, 2023, that are effective for future periods. The total amount of ROU assets and lease liabilities related to these arrangements is immaterial.

The following table includes the weighted-average remaining lease terms, in years, and the weighted-average discount rate used to calculate the present value of operating lease liabilities:


	Years Ended October 31,
	2023		2022
Weighted-average remaining lease term (years)
Operating leases	5.5		5.7
Finance leases	5.2		3.5
Weighted-average discount rate
Operating leases	4.60	%	4.09	%
Finance leases	5.28	%	3.82	%

The following table includes supplemental cash and non-cash information related to operating leases:


	Years Ended October 31,
(in millions)	2023		2022
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	37.9	$	35.3
Operating cash flows from finance leases	0.5		0.4
Financing cash flows from finance leases	3.0		1.9
Lease assets obtained in exchange for new operating lease liabilities	28.7		23.1

LEASES

The components of lease assets and liabilities and their classification on our Consolidated Balance Sheets were as follows:


		As of October 31,
(in millions)	Classification	2023		2022
Lease assets
Operating leases	Right-of-use assets	$	113.4	$	115.2
Finance leases	Property, plant and equipment, net(1)	15.2		10.0
Total lease assets		$	128.6	$	125.2

Lease liabilities
Current liabilities
Operating leases	Current portion of lease liabilities	$	32.5	$	30.3
Finance leases	Other accrued liabilities	3.1		2.8
Noncurrent liabilities
Operating leases	Long-term lease liabilities	98.8		104.5
Finance leases	Other noncurrent liabilities	11.1		6.4
Total lease liabilities		$	145.5	$	144.1

(1) Finance lease assets are recorded net of accumulated amortization of $18.9 million and $16.9 million as of October 31, 2023 and October 31, 2022, respectively.

The components of lease costs and classification within the Consolidated Statements of Comprehensive Income were as follows:


	Years Ended October 31,
(in millions)	2023		2022
Operating lease costs:
Operating expenses(1)(2)	$	70.6	$	60.2
Selling, general and administrative expenses(3)	25.4		25.7
Finance lease costs:
Operating expenses(4)	2.4		1.7

Interest expense(5)	0.5		0.4
Total lease costs	$	99.0	$	88.1

(1) Related to certain parking arrangements.

(2) Includes short-term lease costs and variable lease costs.

(3) Includes short-term lease costs.

(4) Represents amortization of leased assets.

(5) Interest on lease liabilities.

The following table presents information on short-term and variable lease costs:


	Years Ended October 31,
(in millions)	2023		2022
Short-term lease costs	$	53.5	$	43.3
Variable lease costs	6.4		6.0
Total short-term and variable lease costs	$	59.9	$	49.3

Sublease income generated during the year ended October 31, 2023, was immaterial.


(in millions)	Operating Lease Liabilities		Finance Lease Liabilities		Total
Fiscal 2024	$	38.5	$	3.8	$	42.2
Fiscal 2025	27.9		3.8		31.7
Fiscal 2026	25.8		3.0		28.8
Fiscal 2027	19.4		1.4		20.8
Fiscal 2028	13.2		1.4		14.6
Thereafter	27.4		2.6		29.9
Total lease payments	152.1		15.9		168.0
Less: imputed interest	20.8		1.7		22.5
Present value of lease liabilities	$	131.3	$	14.2	$	145.5

Future sublease rental income was excluded for the periods shown above as the amounts are immaterial.

The following table includes the weighted-average remaining lease terms, in years, and the weighted-average discount rate used to calculate the present value of operating lease liabilities:


	Years Ended October 31,
	2023		2022
Weighted-average remaining lease term (years)
Operating leases	5.5		5.7
Finance leases	5.2		3.5
Weighted-average discount rate
Operating leases	4.60	%	4.09	%
Finance leases	5.28	%	3.82	%

The following table includes supplemental cash and non-cash information related to operating leases:


	Years Ended October 31,
(in millions)	2023		2022
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	37.9	$	35.3
Operating cash flows from finance leases	0.5		0.4
Financing cash flows from finance leases	3.0		1.9
Lease assets obtained in exchange for new operating lease liabilities	28.7		23.1

EMPLOYEE BENEFIT PLANS - Schedule of Information for the Plans (Details) - USD ($) $ in Millions	Oct. 31, 2023	Oct. 31, 2022
Deferred Compensation Arrangement with Individual, Postretirement Benefits [Line Items]
Net obligations	$ 6.1	$ 6.0
Projected benefit obligations	11.9	12.2
Fair value of assets	5.8	6.2
Unfunded Plan
Deferred Compensation Arrangement with Individual, Postretirement Benefits [Line Items]
Projected benefit obligations	$ 11.9	$ 12.2

- Definition

Amount of asset segregated and restricted to provide benefit under defined benefit plan. Asset includes, but is not limited to, stock, bond, other investment, earning from investment, and contribution by employer and employee.

+ References + Details

PROPERTY, PLANT AND EQUIPMENT

12 Months Ended

Oct. 31, 2023

Property, Plant and Equipment [Abstract]

PROPERTY, PLANT AND EQUIPMENT

Property, Plant and Equipment


	As of October 31,
(in millions)	2023		2022
Machinery and other equipment	$	170.7	$	158.7
Computer equipment and software	110.7		106.8
Transportation equipment	79.0		64.1
Leasehold improvements	69.3		67.0
Furniture and fixtures	19.8		17.3
Buildings	7.7		7.7
Land	0.8		0.7
	458.0		422.2
Less: Accumulated depreciation(1)	326.5		296.9
Total	$	131.5	$	125.4

(1) For 2023, 2022, and 2021, depreciation expense was $44.2 million, $40.3 million, and $45.0 million, respectively.

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Oct. 31, 2023

Accounting Policies [Abstract]

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation and Principles of Consolidation

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.

Cash and Cash Equivalents

Trade Accounts Receivable and Costs Incurred in Excess of Amounts Billed

Allowance for Doubtful Accounts

Sales Allowance

Other Current Assets

At October 31, 2023 and 2022, other current assets primarily consisted of other receivables, short-term insurance recoverables, and capitalized commissions.

Other Investments

Preferred Equity investments

Investments in Unconsolidated Affiliates

Property, Plant and Equipment


Category			Years
Computer equipment and software			3–7
Machinery and other equipment			3–5
Transportation equipment			1.5–10
Buildings			10–40
Furniture and fixtures			5

Leases

Goodwill and Other Intangible Assets

See Note 9, “Goodwill and Other Intangible Assets,” for further information on goodwill, other intangible assets, and impairment charges.

Other Noncurrent Assets

Federal Energy Savings Performance Contract Receivables

Fair Value of Financial Instruments

Level 1 – Quoted prices for identical instruments in active markets;

Level 3 – Significant inputs to the valuation model are unobservable.

We evaluate assets and liabilities subject to fair value measurements on a recurring and non-recurring basis to determine the appropriate level at which to classify them for each reporting period. Some non-financial assets are measured at fair value on a non-recurring basis only in certain circumstances, including the event of impairment. See Note 7, “Fair Value of Financial Instruments,” for the fair value hierarchy table and for details on how we measure fair value for our assets and liabilities.

Insurance Reserves

We use a combination of insured and self-insurance programs to cover workers’ compensation, general liability, automobile liability, property damage, and other insurable risks. Insurance claim liabilities represent our estimate of retained risks without regard to insurance coverage. We retain a substantial portion of the risk related to certain workers’ compensation and medical claims. Liabilities associated with these losses include estimates of both filed claims and IBNR Claims.

Other Accrued Liabilities

Other Noncurrent Liabilities

At October 31, 2023 and 2022, other noncurrent liabilities primarily consisted of deferred compensation, contingent consideration liability, long-term finance leases, and retirement plan liabilities.

Contracts with Customers

We allocate the contract transaction price to this single performance obligation and recognize revenue as the services are performed, as further described in “Contract Types” below.

Contract Types

We have arrangements under various contract types, as described below.

Monthly Fixed-Price

Square-Foot

Cost-Plus

Work Orders

Transaction-Price

Hourly

Management Reimbursement

Management reimbursement revenue was $302.3 million, $280.6 million, and $240.3 million during 2023, 2022, and 2021, respectively.

Leased Location

Rental expense and certain other expenses under contracts that meet the definition of service concession arrangements are recorded as a reduction of revenue.

Allowance

Energy Savings Contracts and Fixed-Price Repair and Refurbishment

Franchise

Microgrid Systems Installation

We provide electrical contracting services for energy related products such as the installation of solar solutions, battery storage, distributed generation, and other specialized electric trades.

Costs to Obtain a Contract with a Customer

Contract Balances

Advertising

Advertising costs are expensed as incurred. During 2023, 2022, and 2021, advertising expense was $8.8 million, $6.0 million, and $6.2 million, respectively.

Share-Based Compensation

Taxes Collected from Clients and Remitted to Governmental Agencies

We record taxes on client transactions due to governmental agencies as receivables and liabilities on the Consolidated Balance Sheets.

Net Income Per Common Share

Contingencies and Litigation

Income Taxes

Employee Retention Tax Credit

During the year ended October 31, 2023, we received and recorded an employee retention credit totaling $24.0 million, within the “Selling, general and administrative expenses” on the unaudited Consolidated Statements of Comprehensive Income.

Recently Adopted Accounting Standards

Recently Issued Accounting Standards

We do not expect any other recently issued accounting pronouncements to have a material impact on our consolidated financial statements and related disclosures.

SHARE-BASED COMPENSATION PLANS

12 Months Ended

Oct. 31, 2023

Share-Based Payment Arrangement [Abstract]

SHARE-BASED COMPENSATION PLANS

We use various share-based compensation plans to provide incentives for our key employees and non-employee members of our Board of Directors. Currently, these incentives primarily consist of RSUs and performance shares.

On May 2, 2006, our stockholders approved the 2006 Equity Incentive Plan, which was last amended and restated on March 7, 2018 (as amended and restated, the “2006 Equity Plan”). The 2006 Equity Plan is an omnibus plan that provides for a variety of equity and equity-based award vehicles, including stock options, stock appreciation rights, RSUs, performance shares, and other share-based awards. Shares subject to awards that terminate without vesting or exercise are available for future awards under the 2006 Equity Plan. Certain of the awards under the 2006 Equity Plan may qualify as “performance-based” compensation under the IRC.

On March 24, 2021, our stockholders approved the 2021 Equity and Incentive Compensation Plan (the “2021 Equity Plan”). The 2021 Equity Plan is an omnibus plan that provides for a variety of equity and equity-based award vehicles, including stock options, stock appreciation rights, RSUs, performance shares, and other share-based awards. Shares subject to awards that terminate without vesting or exercise are available for future awards under the 2021 Equity Plan. Certain of the awards under the 2021 Equity Plan may qualify as “performance-based” compensation under the IRC.

No further shares are authorized for issuance under the 2006 Equity Plan. There are 3,975,000 total shares of common stock authorized for issuance under the 2021 Equity Plan, and at October 31, 2023, there were 2,363,005 shares of common stock available for grant for future equity-based compensation awards. In addition, there are certain plans under which we can no longer issue awards, such as the 2006 Equity Plan, although awards outstanding under such plans may still vest and be exercised.

We also maintain an employee stock purchase plan, which our stockholders approved on March 9, 2004 (the “2004 Employee Stock Purchase Plan”). As amended, there are 4,000,000 total shares of common stock authorized for issuance under the 2004 Employee Stock Purchase Plan. Effective May 1, 2006, the 2004 Employee Stock Purchase Plan is no longer considered compensatory and the values of the awards are no longer treated as share-based compensation expense. Additionally, as of that date, the purchase price became 95% of the fair value of our common stock price on the last trading day of the month. Employees may designate up to 10% of their compensation for the purchase of stock, subject to a $25,000 annual limit. Employees are required to hold their shares for a minimum of six months from the date of purchase. At October 31, 2023, there were 357,656 remaining unissued shares under the 2004 Employee Stock Purchase Plan.

Compensation Expense by Type of Award and Related Income Tax Benefit


	Years Ended October 31,
(in millions)	2023		2022		2021
RSUs	$	17.7	$	18.5	$	17.6
Performance shares	12.7		12.0		15.8

Share-based compensation expense before income taxes	30.5		30.5		33.5
Income tax benefit	(8.6)		(8.6)		(9.4)
Share-based compensation expense, net of taxes	$	21.8	$	21.9	$	24.1

RSUs and Dividend Equivalent Rights

We award RSUs to eligible employees and non-employee members of our Board of Directors (each, a “Grantee”) that entitle the Grantee to receive shares of our common stock as the units vest. RSUs granted to eligible employees after 2020 generally vest ratably over three years. RSUs granted to eligible employees prior to 2020 generally vest with respect to 50% of the underlying award on the second and fourth anniversary of the award. Upon the retirement of certain executive employees at age 60 with a minimum of 10 years of service to the Company, pursuant to the terms of their respective employment agreements, RSUs granted to such executive employees that were granted at least one year prior to termination by reason of retirement will continue to be eligible for vesting, exercise, and settlement, as applicable, on the originally scheduled vesting date. RSUs granted to non-employee directors vest on the first anniversary date of the grant date. In general, the receipt of RSUs is subject to the grantee’s continuing employment or service as a non-employee director.

RSUs are credited with dividend equivalent rights that are converted to RSUs at the fair market value of our common stock on the dates the dividend payments are made and are subject to the same terms and conditions as the underlying award.

RSU Activity


	Number of Shares (in millions)	Weighted-Average Grant Date Fair Value per Share
Outstanding at October 31, 2022	1.0	$	38.58
Granted	0.5	44.37
Vested (including 0.2 shares withheld for income taxes)	(0.4)	38.80

Forfeited	(0.1)	42.71
Outstanding at October 31, 2023	1.0	$	41.09

At October 31, 2023, total unrecognized compensation cost, net of estimated forfeitures, related to RSUs was $19.5 million, which is expected to be recognized ratably over a weighted-average vesting period of 2.0 years.

In 2023, 2022, and 2021, the weighted-average grant date fair value per share of awards granted was $44.37, $41.63, and $40.22, respectively. In 2023, 2022, and 2021, the total grant date fair value of RSUs vested and converted to shares of ABM common stock was $17.1 million, $16.4 million, and $16.9 million, respectively.

Performance Shares, Including TSR Performance Shares

Performance shares consist of a contingent right to receive shares of our common stock based on performance targets adopted by our Compensation Committee. Performance shares are credited with dividend equivalent rights that will be converted to performance shares at the fair market value of our common stock beginning after the performance targets have been satisfied and are subject to the same terms and conditions as the underlying award.

For certain performance share awards, the number of performance shares that will vest is based on pre-established internal financial performance targets and typically a three-year service and performance period. The number of TSR-modified awards that will vest over the respective three-year performance period is based on our total shareholder return relative to the S&P 1500 Composite Commercial Services & Supplies Index. Vesting of 0% to 150% of the awards originally granted may occur depending on the respective performance metrics.

Performance Share Activity


	Number of Shares (in millions)	Weighted-Average Grant Date Fair Value per Share
Outstanding at October 31, 2022	1.0	$	41.30
Granted	0.4	46.47
Vested (including 0.1 shares withheld for income taxes)	(0.4)	38.08
Performance adjustments	—	52.78
Forfeited	—	42.30
Outstanding at October 31, 2023	0.9	$	44.43

At October 31, 2023, total unrecognized compensation cost related to performance share awards was $18.3 million, which is expected to be recognized ratably over a weighted-average vesting period of 1.9 years. Except for TSR performance shares, these costs are based on estimated achievement of performance targets and estimated costs are periodically reevaluated. For our TSR performance shares, these costs are based on the fair value of awards at the grant date and are recognized on a straight-line basis over the service period of three years.

In 2023, 2022, and 2021, the weighted-average grant date fair value per share of awards granted was $46.47, $43.06, and $39.97, respectively. In 2023, 2022, and 2021, the total grant date fair value of performance shares vested and converted to shares of ABM common stock was $14.6 million, $13.6 million, and $9.0 million, respectively.

In 2023, 2022, and 2021, we used the Monte Carlo simulation valuation technique to estimate the fair value of TSR performance share grants, which used the assumptions in the table below.

Monte Carlo Assumptions


	2023			2022			2021
Expected life(1)	2.81 years			2.81 years			2.81 years
Expected stock price volatility(2)	39.9		%	41.8		%	42.9		%

Risk-free interest rate(3)	4.0		%	1.1		%	0.2		%
Stock price(4)	$	46.19		$	42.88		$	40.75

(1) The expected life represents the remaining performance period of the awards.

(4) The stock price is the closing price of our common stock on the valuation date.

Employee Stock Purchase Plan


	Years Ended October 31,
(in millions, except per share amounts)	2023		2022		2021
Weighted-average fair value of granted purchase rights per share	$	2.23	$	2.19	$	2.17
Common stock issued	0.1		0.1		0.1
Fair value of common stock issued per share	$	42.40	$	41.68	$	41.18
Aggregate purchases	$	3.4	$	3.4	$	3.3

INCOME TAXES - Narrative (Details) $ in Millions	1 Months Ended		12 Months Ended
INCOME TAXES - Narrative (Details) $ in Millions	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Oct. 31, 2023 USD ($) state	Oct. 31, 2022 USD ($)	Oct. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Income Taxes [Line Items]
Effective tax rate			24.10%	25.70%	29.80%
Income tax provision			$ 79.7	$ 79.6	$ 53.5
Benefit related to non-taxable change in fair value of contingent consideration related to acquisition			12.8
Income tax benefit for share-based compensation			2.2	1.4
Return to provision adjustments			(1.5)	1.3
Expense related to non-deductible executive compensation			4.8
Income tax benefit for expiring statues of limitations				8.1
Deferred payroll tax						$ 132.0
Payment of deferred payroll tax	$ 66.0	$ 66.0
Tax credits			2.7
Unrecognized tax benefits that would impact effective tax rate				22.0	30.4
Maximum decrease in unrecognized tax benefits that is reasonably possible			0.7
Uncertain tax positions, interest and penalties accrued			1.4	0.7
Unrecognized tax benefits, interest and penalties expense			$ 0.7		$ 0.1
Unrecognized tax benefits, interest and penalties benefit				$ 0.9
Number of states in which entity operates \| state			50
State and Local Jurisdiction
Income Taxes [Line Items]
Operating loss carryforwards			$ 48.7

LEASES - Schedule of Weighted Average Remaining Lease Term and Discount Rate (Details)	Oct. 31, 2023	Oct. 31, 2022
Weighted-average remaining lease term (years)
Operating leases	5 years 6 months	5 years 8 months 12 days
Finance leases	5 years 2 months 12 days	3 years 6 months
Weighted-average discount rate
Operating leases	4.60%	4.09%
Finance leases	5.28%	3.82%

EMPLOYEE BENEFIT PLANS (Tables)

12 Months Ended

Oct. 31, 2023

Retirement Benefits [Abstract]

Schedule of Information for the Plans

Information for the Plans


	As of October 31,
(in millions)	2023		2022
Net obligations	$	6.1	$	6.0
Projected benefit obligations(1)	11.9		12.2
Fair value of assets	5.8		6.2

(1) At October 31, 2023 and 2022, total projected benefit obligations related to unfunded and underfunded plans were $11.9 million and $12.2 million, respectively.

Schedule of Multiemployer Defined Benefit Pension Plans

Key Information for Individually Significant Multiemployer Defined Benefit Pension Plans(1)

($ in millions)

Pension Protection Act

Zone Status(3)

FIP/RP

Status(4)

Contributions by ABM

Surcharge

Imposed(5)

Expiration Dates of Collective Bargaining Agreements

Pension Fund

EIN/PN(2)

2023

2022

Pending/
Implemented

2023

2022

2021

Building Service 32BJ Pension Fund

13-1879376 / 001

Yellow 6/30/2022

Yellow 6/30/2021

Implemented

21.4

22.7

18.8

12/15/2023 - 12/31/2027

S.E.I.U National Industry Pension Fund

52-6148540 / 001

Red 12/31/2022

Red 12/31/2021

Implemented

19.3

17.6

10.9

Yes

6/30/2024 - 7/31/2025

Central Pension Fund of the IUOE & Participating Employers

36-6052390 / 001

Green 1/31/2023

Green 1/31/2022

N/A*

13.0

12.8

5.3

N/A*

12/23/2023 - 6/30/2026

SEIU Local 1 & Participating Employers Pension Trust

36-6486542 / 001

Green 9/30/2022

Green 9/30/2021

N/A*

4.8

5.8

3.9

N/A*

11/30/2023 - 5/31/2026

IUOE Stationary Engineers Local 39 Pension Plan

94-6118939 / 001

Green 12/31/2022

Green 12/31/2021

N/A*

4.6

4.4

6.6

N/A*

11/30/2026 - 12/31/2029

Western Conference of Teamsters Pension Plan

91-6145047 / 001

Green 12/31/2022

Green 12/31/2021

N/A*

2.4

2.2

2.0

N/A*

11/30/2026 - 12/31/2029

All Other Plans:

8.0

8.2

9.3

Total Contributions

73.6

73.8

56.8

*Not applicable

(1) To determine individually significant plans, we evaluated several factors, including our total contributions to the plan, our significance to the plan in terms of participating employees and contributions, and the funded status of the plan.

(2) The “EIN/PN” column provides the Employer Identification Number and the three-digit plan number assigned to the plan by the IRS.

(3) The Pension Protection Act Zone Status columns provide the two most recently available Pension Protection Act zone statuses from each plan. The zone status is based on information provided to us and other participating employers and is certified by each plan’s actuary. Among other factors, plans in the red zone are generally less than 65% funded, plans in the yellow zone are less than 80% funded, and plans in the green zone are at least 80% funded.

(4) Indicates whether a Financial Improvement Plan (“FIP”) for yellow zone plans or a Rehabilitation Plan (“RP”) for red zone plans is pending or implemented.

(5) Indicates whether our contribution in 2023 included an amount as imposed by a plan in the red zone in addition to the contribution rate specified in the applicable collective bargaining agreement.

Multiemployer Pension Plans for which ABM Is a Significant Contributor


Pension Fund						Contributions to the plan exceeded more than 5% of total contributions per most currently available Forms 5500 (as of the plan’s year end)
Apartment Employees Trust Fund*						12/31/2022, 12/31/2021, and 12/31/2020
Arizona Sheet Metal Pension Trust Fund*						6/30/2022, 6/30/2021, and 6/30/2020
Building Service 32BJ Pension Fund						6/30/2022, 6/30/2021, and 6/30/2020
Building Service Pension Plan*						4/30/2022, 4/30/2021, and 4/30/2020
Central Pension Fund of the IUOE & Participating Employers						1/31/2023
Contract Cleaners Service Employees' Pension Plan*						12/31/2022, 12/31/2021, and 12/31/2020
IUOE Stationary Engineers Local 39 Pension Plan						12/31/2022, 12/31/2021, and 12/30/2020
Local 210's Pension Plan*						12/31/2022, 12/31/2021, and 12/31/2020
Local 670 Pension Plan*						12/31/2022
Massachusetts Service Employees Pension Plan*						12/31/2022, 12/31/2021, and 12/31/2020
S.E.I.U National Industry Pension Fund						12/31/2022, 12/31/2021, and 12/31/2020
SEIU Local 1 & Participating Employers Pension Trust						9/30/2022, 9/30/2021, and 9/30/2020
Service Employees International Union Local 1 Cleveland Pension Plan*						12/31/2022, 12/31/2021, and 12/31/2020
Service Employees International Union Local 32BJ, District 36 Building Operators Pension Trust Fund*						12/31/2022, 12/31/2021, and 12/31/2020
Teamsters Local 617 Pension Fund*						2/28/2022, 2/28/2021, and 2/29/2020
U.S.W.U. Local 74 Welfare Fund*						12/31/2022, 12/31/2021, and 12/31/2020

* These plans are not separately listed in our multiemployer table as they represent an insignificant portion of our total multiemployer pension plan contributions.

- Definition

Tabular disclosure of information about multiemployer plan.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 715
-SubTopic 80
-Name Accounting Standards Codification
-Section 55
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480547/715-80-55-8

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 80
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480576/715-80-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 80
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480576/715-80-50-5

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 80
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480576/715-80-50-5

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 80
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480576/715-80-50-5

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 80
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (e)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480576/715-80-50-5

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 80
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (e)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480576/715-80-50-5

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 80
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (f)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480576/715-80-50-5

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 80
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (f)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480576/715-80-50-5

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 80
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480576/715-80-50-9

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 80
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480576/715-80-50-9

+ Details

GOODWILL AND OTHER INTANGIBLE ASSETS - Schedule of Other Intangible Assets (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2023	Oct. 31, 2022
Acquired Indefinite-lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 741.2	$ 838.4
Accumulated Amortization	(438.3)	(459.8)
Total	$ 302.9	$ 378.5
Intangible assets weighted average life	11 years	11 years
Customer contracts and relationships
Acquired Indefinite-lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 714.1	$ 801.6
Accumulated Amortization	(413.2)	(442.1)
Total	300.9	359.6
Trademarks and trade names
Acquired Indefinite-lived Intangible Assets [Line Items]
Gross Carrying Amount	12.1	21.4
Accumulated Amortization	(11.1)	(15.4)
Total	1.0	6.1
Contract rights and other
Acquired Indefinite-lived Intangible Assets [Line Items]
Gross Carrying Amount	15.0	15.3
Accumulated Amortization	(14.0)	(2.4)
Total	$ 1.1	$ 12.9

CONSOLIDATED STATEMENTS OF COMREHENSIVE INCOME - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Oct. 31, 2023	Oct. 31, 2022	Oct. 31, 2021
Income Statement [Abstract]
Revenues	$ 8,096.4	$ 7,806.6	$ 6,228.6
Operating expenses	7,037.6	6,757.5	5,258.2
Selling, general and administrative expenses	572.8	628.3	719.2
Amortization of intangible assets	76.5	72.1	45.0
Operating profit	409.5	348.8	206.3
Income from unconsolidated affiliates	3.9	2.4	2.1
Interest expense	(82.3)	(41.1)	(28.6)
Income before income taxes	331.1	310.0	179.8
Income tax provision	(79.7)	(79.6)	(53.5)
Net income	251.3	230.4	126.3
Other comprehensive income
Interest rate swaps	(0.5)	36.7	4.5
Foreign currency translation and other	7.3	(19.8)	5.3
Income tax provision	0.1	(10.5)	(1.5)
Comprehensive income	$ 258.1	$ 236.9	$ 134.5
Net income per common share
Basic (in USD per share)	$ 3.81	$ 3.44	$ 1.87
Diluted (in USD per share)	$ 3.79	$ 3.41	$ 1.86
Weighted-average common and common equivalent shares outstanding
Basic (in shares)	66.0	67.1	67.4
Diluted (in shares)	66.3	67.5	68.0

LEASES (Tables)

12 Months Ended

Oct. 31, 2023

Leases [Abstract]

Schedule of Components of Lease assets and Liabilities / Operating Lease Liabilities

The components of lease assets and liabilities and their classification on our Consolidated Balance Sheets were as follows:


		As of October 31,
(in millions)	Classification	2023		2022
Lease assets
Operating leases	Right-of-use assets	$	113.4	$	115.2
Finance leases	Property, plant and equipment, net(1)	15.2		10.0
Total lease assets		$	128.6	$	125.2

Lease liabilities
Current liabilities
Operating leases	Current portion of lease liabilities	$	32.5	$	30.3
Finance leases	Other accrued liabilities	3.1		2.8
Noncurrent liabilities
Operating leases	Long-term lease liabilities	98.8		104.5
Finance leases	Other noncurrent liabilities	11.1		6.4
Total lease liabilities		$	145.5	$	144.1

(1) Finance lease assets are recorded net of accumulated amortization of $18.9 million and $16.9 million as of October 31, 2023 and October 31, 2022, respectively.

The following table includes the weighted-average remaining lease terms, in years, and the weighted-average discount rate used to calculate the present value of operating lease liabilities:


	Years Ended October 31,
	2023		2022
Weighted-average remaining lease term (years)
Operating leases	5.5		5.7
Finance leases	5.2		3.5
Weighted-average discount rate
Operating leases	4.60	%	4.09	%
Finance leases	5.28	%	3.82	%

Schedule of Lease, Cost

The components of lease costs and classification within the Consolidated Statements of Comprehensive Income were as follows:


	Years Ended October 31,
(in millions)	2023		2022
Operating lease costs:
Operating expenses(1)(2)	$	70.6	$	60.2
Selling, general and administrative expenses(3)	25.4		25.7
Finance lease costs:
Operating expenses(4)	2.4		1.7

Interest expense(5)	0.5		0.4
Total lease costs	$	99.0	$	88.1

(1) Related to certain parking arrangements.

(2) Includes short-term lease costs and variable lease costs.

(3) Includes short-term lease costs.

(4) Represents amortization of leased assets.

(5) Interest on lease liabilities.

The following table presents information on short-term and variable lease costs:


	Years Ended October 31,
(in millions)	2023		2022
Short-term lease costs	$	53.5	$	43.3
Variable lease costs	6.4		6.0
Total short-term and variable lease costs	$	59.9	$	49.3

The following table includes supplemental cash and non-cash information related to operating leases:


	Years Ended October 31,
(in millions)	2023		2022
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	37.9	$	35.3
Operating cash flows from finance leases	0.5		0.4
Financing cash flows from finance leases	3.0		1.9
Lease assets obtained in exchange for new operating lease liabilities	28.7		23.1

Schedule of Maturities of Operating Lease Liabilities


(in millions)	Operating Lease Liabilities		Finance Lease Liabilities		Total
Fiscal 2024	$	38.5	$	3.8	$	42.2
Fiscal 2025	27.9		3.8		31.7
Fiscal 2026	25.8		3.0		28.8
Fiscal 2027	19.4		1.4		20.8
Fiscal 2028	13.2		1.4		14.6
Thereafter	27.4		2.6		29.9
Total lease payments	152.1		15.9		168.0
Less: imputed interest	20.8		1.7		22.5
Present value of lease liabilities	$	131.3	$	14.2	$	145.5

Schedule of Maturities of Finance Lease Liabilities


(in millions)	Operating Lease Liabilities		Finance Lease Liabilities		Total
Fiscal 2024	$	38.5	$	3.8	$	42.2
Fiscal 2025	27.9		3.8		31.7
Fiscal 2026	25.8		3.0		28.8
Fiscal 2027	19.4		1.4		20.8
Fiscal 2028	13.2		1.4		14.6
Thereafter	27.4		2.6		29.9
Total lease payments	152.1		15.9		168.0
Less: imputed interest	20.8		1.7		22.5
Present value of lease liabilities	$	131.3	$	14.2	$	145.5

PREFERRED AND COMMON STOCK (Tables)

12 Months Ended

Oct. 31, 2023

Stockholders' Equity Note [Abstract]

Schedule of Repurchase Activity


	Years Ended October 31,
(in millions, except per share amounts)	2023		2022
Total number of shares purchased	3.3		2.3
Average price paid per share(1)	$	41.06	$	42.15
Total cash paid for share repurchases(1)	$	137.1	$	97.5

(1) Average price paid per share and total cash paid for share repurchases does not include any excise tax for stock repurchases as part of the Inflation Reduction Act of 2022.

SEGMENT AND GEOGRAPHIC INFORMATION - Schedule of Geographic Information Based on the Country in Which the Sale Originated (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2023	Oct. 31, 2022	Oct. 31, 2021
Revenues
Revenues	$ 8,096.4	$ 7,806.6	$ 6,228.6
United States
Revenues
Revenues	7,565.6	7,335.3	5,847.8
All other countries
Revenues
Revenues	$ 530.8	$ 471.3	$ 380.8

- 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.

+ References

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+ Details

PREFERRED AND COMMON STOCK - Narrative (Details) - USD ($)	Dec. 13, 2023	Oct. 31, 2023	Dec. 09, 2022	Oct. 31, 2022	Dec. 18, 2019
Class of Stock [Line Items]
Preferred stock, shares authorized (in shares)		500,000		500,000
Preferred stock, shares issued (in shares)		0		0
Authorized repurchase amount of common stock					$ 150,000,000
Expansion of share repurchase program			$ 150,000,000
Remaining amount of authorized repurchases of common stock		$ 60,300,000
Subsequent Event
Class of Stock [Line Items]
Expansion of share repurchase program	$ 150,000,000
Remaining amount of authorized repurchases of common stock	$ 210,300,000

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 505
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-Name Accounting Standards Codification
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+ Details

ACQUISITIONS AND DISPOSITIONS - Schedule of the Final Acquisition Accounting (Details) - USD ($) $ in Millions	Oct. 31, 2023	Oct. 31, 2022	Sep. 01, 2022	Oct. 31, 2021
Business Acquisition [Line Items]
Goodwill	$ 2,491.3	$ 2,485.6		$ 2,228.9
RavenVolt
Business Acquisition [Line Items]
Cash and cash equivalents			$ 29.0
Trade accounts receivable			16.5
Other assets			3.8
Intangible assets			16.7
Goodwill			207.4
Trade accounts payable			(5.2)
Deferred revenue			(31.6)
Other accrued liabilities			(3.2)
Deferred income tax liability, net			(4.5)
Net assets acquired			$ 228.9

DEBT - Schedule of Interest Rate Swaps (Details) - USD ($)	Oct. 31, 2025	Oct. 31, 2024	Apr. 30, 2024	Nov. 01, 2022	Jul. 31, 2022	Jul. 18, 2022	Jul. 07, 2022	May 04, 2022	Feb. 25, 2022	Feb. 09, 2022
Line of Credit Facility [Line Items]
Notional Amount					$ 300,000,000
Forecast
Line of Credit Facility [Line Items]
Notional Amount	$ 100,000,000	$ 175,000,000	$ 250,000,000
Interest Rate Swap, Effective 2/9/2022
Line of Credit Facility [Line Items]
Notional Amount										$ 100,000,000.0
Fixed Interest Rate										1.72%
Interest Rate Swap, Effective 2/25/2022
Line of Credit Facility [Line Items]
Notional Amount									$ 150,000,000.0
Fixed Interest Rate									1.85%
Interest Rate Swap, Effective 5/4/2022
Line of Credit Facility [Line Items]
Notional Amount								$ 100,000,000.0
Fixed Interest Rate								2.88%
Interest Rate Swap, Effective 7/7/2022
Line of Credit Facility [Line Items]
Notional Amount							$ 218,800,000
Fixed Interest Rate							2.83%
Interest Rate Swap, Effective 7/18/2022
Line of Credit Facility [Line Items]
Notional Amount						$ 81,300,000
Fixed Interest Rate						2.79%
Interest Rate Swap, Effective 11/1/2022
Line of Credit Facility [Line Items]
Notional Amount				$ 170,000,000.0
Fixed Interest Rate				3.81%

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2023	Oct. 31, 2022	Oct. 31, 2021
Cash flows from operating activities
Net income	$ 251.3	$ 230.4	$ 126.3
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization	120.7	112.4	89.9
Impairment loss on fixed assets	0.0	0.0	9.1
Deferred income taxes	(4.9)	67.7	(48.0)
Share-based compensation expense	30.5	30.5	33.5
Provision for/(Recovery of) bad debt	3.0	(7.7)	0.6
Amortization of accumulated other comprehensive gain on interest rate swaps	0.0	(4.8)	(6.4)
Discount accretion on insurance claims	0.4	0.1	0.1
(Gain)/Loss on sale of assets	(0.1)	(0.8)	0.2
Income from unconsolidated affiliates	(3.9)	(2.4)	(2.1)
Distributions from unconsolidated affiliates	1.9	1.9	1.9
Change in fair value of contingent consideration	(45.6)	0.0	0.0
Changes in operating assets and liabilities, net of effects of acquisitions
Trade accounts receivable and costs incurred in excess of amounts billed	(152.7)	(143.8)	(124.5)
Prepaid expenses and other current assets	(7.4)	19.7	6.8
Right-of-use assets	1.8	14.7	19.3
Other noncurrent assets	33.8	(21.2)	13.8
Trade accounts payable and other accrued liabilities	(3.8)	(143.0)	265.7
Long-term lease liabilities	(5.7)	(15.2)	(16.3)
Insurance claims	5.0	(17.4)	(28.4)
Income taxes payable	15.1	(31.8)	8.3
Other noncurrent liabilities	3.8	(69.0)	(35.4)
Total adjustments	(8.0)	(210.0)	188.0
Net cash provided by operating activities	243.3	20.4	314.3
Cash flows from investing activities
Additions to property, plant and equipment	(52.6)	(50.8)	(34.3)
Proceeds from sale of assets	2.9	6.0	4.4
Investments in equity securities	(12.4)	(2.1)	0.0
Purchase of business, net of cash acquired	0.0	(194.6)	(710.2)
Net cash used in investing activities	(62.1)	(241.5)	(740.0)
Cash flows from financing activities
Taxes withheld from issuance of share-based compensation awards, net	(10.5)	(9.9)	(8.1)
Repurchases of common stock, including excise taxes	(138.1)	(97.5)	0.0
Dividends paid	(57.5)	(51.9)	(51.0)
Deferred financing costs paid	0.0	0.0	(6.4)
Borrowings from debt	1,178.5	1,479.4	357.7
Repayment of borrowings from debt	(1,136.0)	(1,096.9)	(194.2)
Changes in book cash overdrafts	(20.3)	4.3	(17.9)
Financing of energy savings performance contracts	0.5	9.9	15.1
Repayment of finance lease obligations	(3.0)	(1.9)	(2.8)
Net cash (used in) provided by financing activities	(186.3)	235.5	92.4
Effect of exchange rate changes on cash and cash equivalents	1.6	(4.2)	1.9
Net (decrease) increase in cash and cash equivalents	(3.5)	10.2	(331.4)
Cash and cash equivalents at beginning of year	73.0	62.8	394.2
Cash and cash equivalents at end of year	69.5	73.0	62.8
Supplemental cash flow information
Income tax payments, net	69.1	46.4	93.5
Interest paid on credit facility	$ 89.4	$ 28.9	$ 14.3

LEASES - Maturities of Operating and Finance Lease Liabilities (Details) $ in Millions	Oct. 31, 2023 USD ($)
Operating Lease Liabilities
Fiscal 2024	$ 38.5
Fiscal 2025	27.9
Fiscal 2026	25.8
Fiscal 2027	19.4
Fiscal 2028	13.2
Thereafter	27.4
Total lease payments	152.1
Less: imputed interest	20.8
Present value of lease liabilities	131.3
Finance Lease Liabilities
Fiscal 2024	3.8
Fiscal 2025	3.8
Fiscal 2026	3.0
Fiscal 2027	1.4
Fiscal 2028	1.4
Thereafter	2.6
Total lease payments	15.9
Less: imputed interest	1.7
Present value of lease liabilities	14.2
Total
Fiscal 2024	42.2
Fiscal 2025	31.7
Fiscal 2026	28.8
Fiscal 2027	20.8
Fiscal 2028	14.6
Thereafter	29.9
Total lease payments	168.0
Less: imputed interest	22.5
Present value of lease liabilities	$ 145.5

INSURANCE

12 Months Ended

Oct. 31, 2023

Insurance [Abstract]

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. Beginning November 1, 2023, retentions will range between $1.0 million and $5.0 million of exposure on a per-occurrence basis. 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.

Insurance Reserve Adjustments

Actuarial Reviews and Updates Performed During 2023

We review our self-insurance liabilities on a quarterly 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 first and third quarters of 2023, we performed comprehensive actuarial reviews of the majority of our casualty insurance programs to evaluate changes made to claims reserves and claims payment activity for the periods of May 1, 2022, through October 31, 2022, and November 1, 2022, through April 30, 2023, respectively (the “Actuarial Reviews”). The Actuarial Reviews were comprehensive in nature and were based on loss development patterns, trend assumptions, and underlying expected loss costs during the periods analyzed.

During the second and fourth quarters of 2023, we performed interim actuarial updates of the majority of our casualty insurance programs that considered changes in claims development and claims payment activity for the respective periods analyzed (the “Interim Updates”). These Interim Updates were abbreviated in nature based on actual versus expected development during the periods analyzed and relied on the key assumptions in the Actuarial Reviews (most notably loss development patterns, trend assumptions, and underlying expected loss costs).

Based on the results of the Actuarial Reviews and Interim Updates, we decreased our total reserves related to prior years for known claims as well as our estimate of the loss amounts associated with IBNR Claims during 2023 by $14.8 million. In 2022, we decreased our total reserves related to prior year claims by $36.8 million.

Insurance-Related Balances and Activity


	As of October 31,
(in millions)	2023		2022
Insurance claim reserves, excluding medical and dental	$	555.0	$	551.0
Medical and dental claim reserves and other	9.5		8.1
Insurance recoverables	67.1		71.0

At October 31, 2023 and 2022, insurance recoverables are included in both “Other current assets” and “Other noncurrent assets” on the accompanying Consolidated Balance Sheets.

Casualty Program Insurance Reserves Rollforward


	Years Ended October 31,
(in millions)	2023		2022		2021
Net balance at beginning of year	$	479.9	$	508.3	$	434.8
Change in case reserves plus IBNR Claims — current year	154.2		145.7		117.9
Change in case reserves plus IBNR Claims — prior years	(14.8)		(36.8)		(36.0)
Claims paid	(131.4)		(129.1)		(99.8)
Acquisition(1)	—		(8.2)		91.6
Net balance, October 31(2)	487.9		479.9		508.3
Recoverables	67.1		71.0		66.5
Gross balance, October 31	$	555.0	$	551.0	$	574.8

(1) During 2021, insurance reserves increased as a result of the Able Acquisition.

(2) Includes reserves related to discontinued operations of approximately $0.1 million for 2023, $0.2 million for 2022, and $0.3 million for 2021.

Instruments Used to Collateralize Our Insurance Obligations


	As of October 31,
(in millions)	2023		2022
Standby letters of credit	$	53.5	$	153.7
Surety bonds and surety-backed letters of credit	178.0		73.2
Restricted insurance deposits	3.1		0.9
Total	$	234.7	$	227.8

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Oct. 31, 2023	Oct. 31, 2022
Statement of Financial Position [Abstract]
Trade accounts receivable, allowance	$ 25.0	$ 22.6
Property, plant and equipment, accumulated depreciation	326.5	296.9
Other intangible assets, accumulated amortization	$ 438.3	$ 459.8
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)	62,847,387	65,587,894
Common stock, shares outstanding (in shares)	62,847,387	65,587,894

PROPERTY, PLANT AND EQUIPMENT (Tables)

12 Months Ended

Oct. 31, 2023

Property, Plant and Equipment [Abstract]

Schedule of Property, Plant and Equipment

Property, Plant and Equipment


	As of October 31,
(in millions)	2023		2022
Machinery and other equipment	$	170.7	$	158.7
Computer equipment and software	110.7		106.8
Transportation equipment	79.0		64.1
Leasehold improvements	69.3		67.0
Furniture and fixtures	19.8		17.3
Buildings	7.7		7.7
Land	0.8		0.7
	458.0		422.2
Less: Accumulated depreciation(1)	326.5		296.9
Total	$	131.5	$	125.4

(1) For 2023, 2022, and 2021, depreciation expense was $44.2 million, $40.3 million, and $45.0 million, respectively.

NET INCOME PER COMMON SHARE

12 Months Ended

Oct. 31, 2023

Earnings Per Share [Abstract]

NET INCOME PER COMMON SHARE

Basic and Diluted Net Income Per Common Share Calculations


	Years Ended October 31,
(in millions, except per share amounts)	2023		2022		2021


Net income	$	251.3	$	230.4	$	126.3

Weighted-average common and common equivalent shares outstanding — Basic	66.0		67.1		67.4
Effect of dilutive securities
RSUs	0.2		0.2		0.3

Performance shares	0.2		0.2		0.2
Weighted-average common and common equivalent shares outstanding — Diluted	66.3		67.5		68.0

Net income per common share
Basic	$	3.81	$	3.44	$	1.87

Diluted	$	3.79	$	3.41	$	1.86

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


	Years Ended October 31,
(in millions)	2023	2022	2021
Anti-dilutive	0.3	—	—

GOODWILL AND OTHER INTANGIBLE ASSETS

12 Months Ended

Oct. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND OTHER INTANGIBLE ASSETS

Goodwill


(in millions)	Business & Industry		Manufacturing & Distribution		Education		Aviation		Technical Solutions		Total
Balance at October 31, 2021	$	1,129.8	$	407.2	$	459.3	$	69.9	$	162.7	2,228.9
Acquisitions	61.7		—		—		—		207.5		269.2
Foreign currency translation	(8.7)		—		—		(1.1)		(2.7)		(12.6)
Reallocation (1)	(95.0)		95.0		—		—		—		—
Balance at October 31, 2022	$	1,087.8	$	502.2	$	459.3	$	68.7	$	367.4	$	2,485.6
Acquisitions (2)	1.3		—		—		—		(0.1)		1.1
Foreign currency translation	3.6		—		—		0.3		0.8		4.7
Balance at October 31, 2023	$	1,092.9	$	502.2	$	459.3	$	69.0	$	368.0	$	2,491.3

(1) In connection with the reorganization of our T&M segment in the first quarter of 2022, we reallocated $95.0 million of goodwill from our B&I segment to our M&D segment using a relative fair value approach.

(2) During 2023, represents final acquisition accounting adjustments to goodwill from RavenVolt and Momentum acquisitions. See Note 3, “Acquisitions and Dispositions,” for additional information.

We did not record goodwill impairment charges during fiscal years 2023 and 2022.

Other Intangible Assets


	As of October 31,
	2023						2022
(in millions)	Gross Carrying Amount		Accumulated Amortization		Total		Gross Carrying Amount		Accumulated Amortization		Total
Customer contracts and relationships	$	714.1	$	(413.2)	$	300.9	$	801.6	$	(442.1)	$	359.6
Trademarks and trade names	12.1		(11.1)		1.0		21.4		(15.4)		6.1
Contract rights and other	15.0		(14.0)		1.1		15.3		(2.4)		12.9
Total(1)	$	741.2	$	(438.3)	$	302.9	$	838.4	$	(459.8)	$	378.5

(1) These intangible assets are being amortized over the expected period of benefit, with a weighted average life of approximately 11 years.

Estimated Annual Amortization Expense for Each of the Next Five Years


(in millions)	2024		2025		2026		2027		2028
Estimated amortization expense(1)	$	54.4	$	47.4	$	41.3	$	35.9	$	30.9

(1) These amounts could vary as acquisitions of additional intangible assets occur in the future and as acquisition accounting is finalized for existing acquisitions.

The estimates of future cash flows used in determining the fair value of goodwill and other intangible assets involve significant management judgment and are based upon assumptions about expected future operating performance, economic conditions, market conditions, and cost of capital. Inherent in estimating the future cash flows are uncertainties beyond our control, such as changes in capital markets. The actual cash flows could differ materially from management’s estimates due to changes in business conditions, operating performance, and economic conditions.

ACQUISITIONS AND DISPOSITIONS (Tables)

12 Months Ended

Oct. 31, 2023

Business Combination and Asset Acquisition [Abstract]

Schedule of the Final Acquisition Accounting

The following table summarizes the final acquisition accounting:


(in millions)


Cash and cash equivalents	$	29.0
Trade accounts receivable	16.5
Other assets	3.8
Intangible assets	16.7
Goodwill	207.4
Trade accounts payable	(5.2)
Deferred revenue	(31.6)
Other accrued liabilities	(3.2)
Deferred income tax liability, net	(4.5)
Net assets acquired	$	228.9

SHARE-BASED COMPENSATION PLANS - Narrative (Details) - USD ($)	12 Months Ended
	Oct. 31, 2023	Oct. 31, 2022	Oct. 31, 2021	May 01, 2006
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Exercisable rate	50.00%
Total unrecognized compensation cost, net of estimated forfeitures	$ 19,500,000
Weighted-average vesting period	2 years
Fair value per share of awards granted (in USD per share)	$ 44.37	$ 41.63	$ 40.22
Total fair value of RSUs vested	$ 17,100,000	$ 16,400,000	$ 16,900,000
RSUs \| Certain Executive Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Minimum service period at retirement	10 years
Grant period prior to termination	1 year
Performance shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Total unrecognized compensation cost, net of estimated forfeitures	$ 18,300,000
Weighted-average vesting period	1 year 10 months 24 days
Fair value per share of awards granted (in USD per share)	$ 46.47	$ 43.06	$ 39.97
Total fair value of RSUs vested	$ 14,600,000	$ 13,600,000	$ 9,000,000
Service period	3 years
Performance shares \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercisable rate	0.00%
Performance shares \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercisable rate	150.00%
2006 Equity Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares)	0
2021 Equity Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares)	3,975,000
Number of shares available for grant (in shares)	2,363,005
2004 Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares)	4,000,000
Fair value percentage of common stock price				95.00%
Employee contribution percentage				10.00%
Maximum annual employee contribution				$ 25,000
Holding period for shares purchased in program	6 months
Number of shares unissued (in shares)	357,656

SEGMENT AND GEOGRAPHIC INFORMATION

12 Months Ended

Oct. 31, 2023

Segment Reporting [Abstract]

SEGMENT AND GEOGRAPHIC INFORMATION

Segment Information

Our current reportable segments consist of B&I, M&D, Education, Aviation, and Technical Solutions, as further described below.


REPORTABLE SEGMENTS AND DESCRIPTIONS
B&I			B&I, our largest reportable segment, encompasses janitorial, facilities engineering, and parking services for commercial real estate properties (including corporate offices for high tech clients), sports and entertainment venues, and traditional hospitals and non-acute healthcare facilities. B&I also provides vehicle maintenance and other services to rental car providers.
M&D			M&D provides integrated facility services, engineering, janitorial, and other specialized services in different types of manufacturing, distribution, and data center facilities. Manufacturing facilities include traditional motor vehicles, electric vehicles, batteries, pharmaceuticals, steel, semiconductors, chemicals, and many others. Distribution facilities include e-commerce, cold storage, logistics, general warehousing, and others.
Education			Education delivers janitorial, custodial, landscaping and grounds, facilities engineering, and parking services for public school districts, private schools, colleges, and universities.
Aviation			Aviation supports airlines and airports with services ranging from parking and janitorial to passenger assistance, catering logistics, air cabin maintenance, and transportation.
Technical Solutions			Technical Solutions specializes in facility infrastructure, mechanical and electrical services, including EV power design, installation and maintenance, as well as microgrid systems installations. These services can also be leveraged for cross-selling across all of our industry groups, both domestically and internationally.

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.

Financial Information by Reportable Segment


	Years Ended October 31,
(in millions)	2023		2022		2021
Revenues
Business & Industry	$	4,089.4	$	4,095.9	$	2,853.8
Manufacturing & Distribution	1,526.7		1,445.2		1,363.1
Education	880.4		834.7		830.8
Aviation	925.7		804.0		651.1
Technical Solutions	674.2		626.8		529.8

	$	8,096.4	$	7,806.6	$	6,228.6
Operating profit
Business & Industry	$	315.6	$	334.9	$	285.9
Manufacturing & Distribution	161.7		161.8		155.5
Education	49.7		47.1		61.5
Aviation	60.0		29.3		32.1
Technical Solutions(1)	53.2		63.8		49.4
Government Services	—		(0.3)		(0.2)
Corporate(2) (3)	(226.6)		(284.5)		(374.6)
Adjustment for income from unconsolidated affiliates, included in Aviation	(3.9)		(2.4)		(2.1)
Adjustment for tax deductions for energy efficient government buildings, included in Technical Solutions	(0.3)		(0.9)		(1.2)
	409.5		348.8		206.3
Income from unconsolidated affiliates	3.9		2.4		2.1
Interest expense	(82.3)		(41.1)		(28.6)
Income before income taxes	$	331.1	$	310.0	$	179.8

Depreciation and amortization
Business & Industry	$	44.9	$	47.1	$	18.4
Manufacturing & Distribution	13.1		13.4		13.4
Education	22.5		25.4		30.5
Aviation	9.6		8.2		9.1
Technical Solutions	17.5		7.0		5.9

Corporate	13.1		11.4		12.7
	$	120.7	$	112.4	$	89.9

(1) Reflects a $7.6 million gain on the sale of assets during the year ended October 31, 2022.

(2) Reflects adjustments to the fair value of the contingent consideration payable related to the RavenVolt Acquisition of $45.6 million and an employee retention credit totaling $24.0 million during the year ended October 31, 2023.

(3) Reflects accrued litigation settlement reserve totaling $142.9 million for the Bucio case during the year ended October 31, 2021.

Geographic Information Based on the Country in Which the Sale Originated(1)


	Years Ended October 31,
(in millions)	2023		2022		2021
Revenues
United States	$	7,565.6	$	7,335.3	$	5,847.8
All other countries	530.8		471.3		380.8
	$	8,096.4	$	7,806.6	$	6,228.6

(1) Substantially all of our long-lived assets are related to U.S. operations.

- 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.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-15

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//280/tableOfContent

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 26
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-26

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 34
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-34

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

+ Details

INCOME TAXES - Schedule of Components of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Millions	Oct. 31, 2023	Oct. 31, 2022
Deferred tax assets attributable to:
Self-insurance claims (net of recoverables)	$ 95.2	$ 96.1
Deferred and other compensation	31.4	33.0
Accounts receivable allowances	7.8	5.8
Settlement liabilities	4.5	10.4
Other accruals	4.3	4.8
State taxes	1.5	1.2
State net operating loss carryforwards	2.6	3.2
Tax credits	2.3	3.1
Unrecognized tax benefits	3.6	3.3
Deferred payroll taxes	0.0	18.1
Operating lease liabilities	27.3	31.0
Gross deferred tax assets	180.5	210.0
Valuation allowance	(1.2)	(1.6)
Total deferred tax assets	179.3	208.4
Deferred tax liabilities attributable to:
Property, plant and equipment	(4.3)	(5.4)
Goodwill and other acquired intangibles	(200.0)	(222.9)
Right-of-use assets	(28.6)	(31.9)
Tax accounting method change	(11.7)	(17.1)
Other comprehensive Income	(8.4)	(9.0)
Other	(11.3)	(11.8)
Total deferred tax liabilities	(264.3)	(298.1)
Net deferred tax liabilities	$ (85.0)	$ (89.7)

LEASES - Schedule of Components of Lease assets and Liabilities (Details) - USD ($) $ in Millions	Oct. 31, 2023	Oct. 31, 2022
Lease assets
Operating leases	$ 113.4	$ 115.2
Finance leases	$ 15.2	$ 10.0
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Property, plant and equipment, net of accumulated depreciation of $326.5 and $296.9 at October 31, 2023 and 2022, respectively	Property, plant and equipment, net of accumulated depreciation of $326.5 and $296.9 at October 31, 2023 and 2022, respectively
Total lease assets	$ 128.6	$ 125.2
Current liabilities
Operating leases	32.5	30.3
Finance leases	$ 3.1	$ 2.8
Finance Lease, Liability, Current, Statement of Financial Position [Extensible List]	Other accrued liabilities	Other accrued liabilities
Noncurrent liabilities
Operating leases	$ 98.8	$ 104.5
Finance leases	$ 11.1	$ 6.4
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Other noncurrent liabilities	Other noncurrent liabilities
Total lease liabilities	$ 145.5	$ 144.1
Accumulated amortization of finance lease assets	$ 18.9	$ 16.9

SEGMENT AND GEOGRAPHIC INFORMATION (Tables)

12 Months Ended

Oct. 31, 2023

Segment Reporting [Abstract]

Schedule of Financial Information by Reportable Segment

Financial Information by Reportable Segment


	Years Ended October 31,
(in millions)	2023		2022		2021
Revenues
Business & Industry	$	4,089.4	$	4,095.9	$	2,853.8
Manufacturing & Distribution	1,526.7		1,445.2		1,363.1
Education	880.4		834.7		830.8
Aviation	925.7		804.0		651.1
Technical Solutions	674.2		626.8		529.8

	$	8,096.4	$	7,806.6	$	6,228.6
Operating profit
Business & Industry	$	315.6	$	334.9	$	285.9
Manufacturing & Distribution	161.7		161.8		155.5
Education	49.7		47.1		61.5
Aviation	60.0		29.3		32.1
Technical Solutions(1)	53.2		63.8		49.4
Government Services	—		(0.3)		(0.2)
Corporate(2) (3)	(226.6)		(284.5)		(374.6)
Adjustment for income from unconsolidated affiliates, included in Aviation	(3.9)		(2.4)		(2.1)
Adjustment for tax deductions for energy efficient government buildings, included in Technical Solutions	(0.3)		(0.9)		(1.2)
	409.5		348.8		206.3
Income from unconsolidated affiliates	3.9		2.4		2.1
Interest expense	(82.3)		(41.1)		(28.6)
Income before income taxes	$	331.1	$	310.0	$	179.8

Depreciation and amortization
Business & Industry	$	44.9	$	47.1	$	18.4
Manufacturing & Distribution	13.1		13.4		13.4
Education	22.5		25.4		30.5
Aviation	9.6		8.2		9.1
Technical Solutions	17.5		7.0		5.9

Corporate	13.1		11.4		12.7
	$	120.7	$	112.4	$	89.9

(1) Reflects a $7.6 million gain on the sale of assets during the year ended October 31, 2022.

(3) Reflects accrued litigation settlement reserve totaling $142.9 million for the Bucio case during the year ended October 31, 2021.

Schedule of Geographic Information Based on the Country in Which the Sale Originated

Geographic Information Based on the Country in Which the Sale Originated(1)


	Years Ended October 31,
(in millions)	2023		2022		2021
Revenues
United States	$	7,565.6	$	7,335.3	$	5,847.8
All other countries	530.8		471.3		380.8
	$	8,096.4	$	7,806.6	$	6,228.6

(1) Substantially all of our long-lived assets are related to U.S. operations.

INSURANCE (Tables)

12 Months Ended

Oct. 31, 2023

Insurance [Abstract]

Schedule of Insurance Related Balances and Activity

Insurance-Related Balances and Activity


	As of October 31,
(in millions)	2023		2022
Insurance claim reserves, excluding medical and dental	$	555.0	$	551.0
Medical and dental claim reserves and other	9.5		8.1
Insurance recoverables	67.1		71.0

Schedule of Casualty Program Insurance Reserves Rollforward

Casualty Program Insurance Reserves Rollforward


	Years Ended October 31,
(in millions)	2023		2022		2021
Net balance at beginning of year	$	479.9	$	508.3	$	434.8
Change in case reserves plus IBNR Claims — current year	154.2		145.7		117.9
Change in case reserves plus IBNR Claims — prior years	(14.8)		(36.8)		(36.0)
Claims paid	(131.4)		(129.1)		(99.8)
Acquisition(1)	—		(8.2)		91.6
Net balance, October 31(2)	487.9		479.9		508.3
Recoverables	67.1		71.0		66.5
Gross balance, October 31	$	555.0	$	551.0	$	574.8

(1) During 2021, insurance reserves increased as a result of the Able Acquisition.

(2) Includes reserves related to discontinued operations of approximately $0.1 million for 2023, $0.2 million for 2022, and $0.3 million for 2021.

Schedule of Instruments Used to Collateralize Insurance Obligations

Instruments Used to Collateralize Our Insurance Obligations


	As of October 31,
(in millions)	2023		2022
Standby letters of credit	$	53.5	$	153.7
Surety bonds and surety-backed letters of credit	178.0		73.2
Restricted insurance deposits	3.1		0.9
Total	$	234.7	$	227.8

REVENUES - Schedule of Contract Asset and Liability (Details) - USD ($)	12 Months Ended
	Oct. 31, 2023	Oct. 31, 2022
Revenue from Contract with Customer [Abstract]
Billed trade receivables	$ 1,219,600,000	$ 1,138,800,000
Unbilled trade receivables	170,400,000	162,500,000
Costs incurred in excess of amounts billed	139,200,000	75,800,000
Capitalized commissions	30,200,000	$ 30,900,000
Capitalized contract price	14,500,000
Amortization of previously capitalized contract costs	15,200,000
Impairment loss recorded on costs capitalized	0
Contract with Customer, Liabilities [Roll Forward]
Contract liabilities, balance at beginning of period	79,600,000
Additional contract liabilities	335,900,000
Recognition of deferred revenue	(274,300,000)
Contract liabilities, balance at end of period	$ 141,200,000

SUBSEQUENT EVENTS	12 Months Ended
SUBSEQUENT EVENTS	Oct. 31, 2023
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS Share Repurchase Program Effective December 18, 2019, our Board of Directors replaced our then-existing share repurchase program with a new share repurchase program under which we may repurchase up to $150.0 million of our common stock. Effective December 9, 2022, and December 13, 2023, our Board of Directors expanded the Share Repurchase Program by $150.0 million and $150.0 million, respectively. Repurchases of our common stock may take place on the open market or otherwise, and all or part of the repurchases may be made pursuant to Rule 10b5-1 plans or in privately negotiated transactions. The timing of repurchases is at our discretion and will depend upon several factors, including market and business conditions, future cash flows, share price, and share availability. Repurchased shares are retired and returned to an authorized but unissued status. The Share Repurchase Program may be suspended or discontinued at any time without prior notice. At December 13, 2023, authorization for $210.3 million of repurchases remained under the Share Repurchase Program.

SHARE-BASED COMPENSATION PLANS - Schedule of Compensation Expense by Type of Award and Related Income Tax Benefit (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2023	Oct. 31, 2022	Oct. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense before income taxes	$ 30.5	$ 30.5	$ 33.5
Income tax benefit	(8.6)	(8.6)	(9.4)
Share-based compensation expense, net of taxes	21.8	21.9	24.1
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense before income taxes	17.7	18.5	17.6
Performance shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense before income taxes	$ 12.7	$ 12.0	$ 15.8

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 1D
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480483/718-10-35-1D

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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Reference 25: http://www.xbrl.org/2003/role/disclosureRef
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Reference 26: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

REVENUES - Schedule of Disaggregation of Revenues (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2023	Oct. 31, 2022	Oct. 31, 2021
Revenue from External Customer [Line Items]
Revenues	$ 8,096.4	$ 7,806.6	$ 6,228.6
Business & Industry
Revenue from External Customer [Line Items]
Revenues	4,089.4	4,095.9	2,853.8
M&D
Revenue from External Customer [Line Items]
Revenues	1,526.7	1,445.2	1,363.1
Education
Revenue from External Customer [Line Items]
Revenues	880.4	834.7	830.8
Aviation
Revenue from External Customer [Line Items]
Revenues	925.7	804.0	651.1
Technical Solutions
Revenue from External Customer [Line Items]
Revenues	674.2	626.8	$ 529.8
Janitorial
Revenue from External Customer [Line Items]
Revenues	4,997.7	4,829.4
Janitorial \| Business & Industry
Revenue from External Customer [Line Items]
Revenues	2,745.2	2,746.6
Janitorial \| M&D
Revenue from External Customer [Line Items]
Revenues	1,330.8	1,242.4
Janitorial \| Education
Revenue from External Customer [Line Items]
Revenues	774.8	720.6
Janitorial \| Aviation
Revenue from External Customer [Line Items]
Revenues	146.9	119.8
Janitorial \| Technical Solutions
Revenue from External Customer [Line Items]
Revenues	0.0	0.0
Parking
Revenue from External Customer [Line Items]
Revenues	780.8	703.6
Parking \| Business & Industry
Revenue from External Customer [Line Items]
Revenues	408.2	354.3
Parking \| M&D
Revenue from External Customer [Line Items]
Revenues	42.5	36.6
Parking \| Education
Revenue from External Customer [Line Items]
Revenues	0.8	0.9
Parking \| Aviation
Revenue from External Customer [Line Items]
Revenues	329.3	311.7
Parking \| Technical Solutions
Revenue from External Customer [Line Items]
Revenues	0.0	0.0
Facility Services
Revenue from External Customer [Line Items]
Revenues	1,226.2	1,302.7
Facility Services \| Business & Industry
Revenue from External Customer [Line Items]
Revenues	936.0	995.0
Facility Services \| M&D
Revenue from External Customer [Line Items]
Revenues	153.4	166.2
Facility Services \| Education
Revenue from External Customer [Line Items]
Revenues	104.8	113.2
Facility Services \| Aviation
Revenue from External Customer [Line Items]
Revenues	32.0	28.3
Facility Services \| Technical Solutions
Revenue from External Customer [Line Items]
Revenues	0.0	0.0
Building & Energy Solutions
Revenue from External Customer [Line Items]
Revenues	674.2	626.8
Building & Energy Solutions \| Business & Industry
Revenue from External Customer [Line Items]
Revenues	0.0	0.0
Building & Energy Solutions \| M&D
Revenue from External Customer [Line Items]
Revenues	0.0	0.0
Building & Energy Solutions \| Education
Revenue from External Customer [Line Items]
Revenues	0.0	0.0
Building & Energy Solutions \| Aviation
Revenue from External Customer [Line Items]
Revenues	0.0	0.0
Building & Energy Solutions \| Technical Solutions
Revenue from External Customer [Line Items]
Revenues	674.2	626.8
Airline Services
Revenue from External Customer [Line Items]
Revenues	417.5	344.2
Airline Services \| Business & Industry
Revenue from External Customer [Line Items]
Revenues	0.0	0.0
Airline Services \| M&D
Revenue from External Customer [Line Items]
Revenues	0.0	0.0
Airline Services \| Education
Revenue from External Customer [Line Items]
Revenues	0.0	0.0
Airline Services \| Aviation
Revenue from External Customer [Line Items]
Revenues	417.5	344.2
Airline Services \| Technical Solutions
Revenue from External Customer [Line Items]
Revenues	$ 0.0	$ 0.0

PREFERRED AND COMMON STOCK - Schedule of Repurchase Activity (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Oct. 31, 2023	Oct. 31, 2022
Stockholders' Equity Note [Abstract]
Total number of shares repurchased (in shares)	3.3	2.3
Average price paid per share (in USD per share)	$ 41.06	$ 42.15
Total cash paid for share repurchases	$ 137.1	$ 97.5

- Definition

Number of shares that have been repurchased during the period and have not been retired and are not held in treasury. Some state laws may govern the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock.

+ References + Details

- Definition

Equity impact of the value of stock that has been repurchased during the period and has not been retired and is not held in treasury. Some state laws may mandate the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock.

+ References + Details

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Oct. 31, 2023

Accounting Policies [Abstract]

Schedule of Estimated Useful Lives of Property, Plant and Equipment

We determine depreciation for financial reporting purposes using the straight-line method over the following estimated useful lives:


Category			Years
Computer equipment and software			3–7
Machinery and other equipment			3–5
Transportation equipment			1.5–10
Buildings			10–40
Furniture and fixtures			5

GOODWILL AND OTHER INTANGIBLE ASSETS - Narrative (Details) - USD ($)	12 Months Ended
	Oct. 31, 2023	Oct. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill impairment charges	$ 0	$ 0

INCOME TAXES - Schedule of Reconciliation of U.S. Statutory Tax Rate to Effective Income Tax Rate (Details)	12 Months Ended
	Oct. 31, 2023	Oct. 31, 2022	Oct. 31, 2021
Income Tax Disclosure [Abstract]
U.S. statutory rate	21.00%	21.00%	21.00%
State and local income taxes, net of federal tax benefit	6.90%	7.70%	6.80%
Federal and state tax credits	(1.00%)	(1.50%)	(2.60%)
Impact of foreign operations	0.80%	(0.10%)	0.30%
Changes in uncertain tax positions	0.10%	(2.50%)	1.50%
Incremental tax benefit from share-based compensation awards	(0.70%)	(0.50%)	(0.40%)
Energy efficiency incentives	(0.10%)	(0.30%)	(0.70%)
Nondeductible executive compensation	1.40%	1.40%	0.40%
Nontaxable RavenVolt contingent consideration	(3.90%)	0.00%	0.00%
Other nondeductible expenses	0.60%	0.30%	2.30%
Other, net	(1.00%)	0.20%	1.20%
Effective tax rate	24.10%	25.70%	29.80%

SHARE-BASED COMPENSATION PLANS - Schedule of Employee Stock Purchase Plan (Details) - Employee Stock Purchase Plan - USD ($) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Oct. 31, 2023	Oct. 31, 2022	Oct. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average fair value of granted purchase rights per share (in USD per share)	$ 2.23	$ 2.19	$ 2.17
Common stock issued (in shares)	0.1	0.1	0.1
Fair value of common stock issued per share (in USD per share)	$ 42.40	$ 41.68	$ 41.18
Aggregate purchases	$ 3.4	$ 3.4	$ 3.3

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

INCOME TAXES - Schedule of Changes to the Valuation Allowance (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2023	Oct. 31, 2022	Oct. 31, 2021
Operating Loss Carryforwards, Valuation Allowance Rollforward [Roll Forward]
Valuation allowance at beginning of year	$ 1.6	$ 2.2	$ 4.1
Other, net	(0.4)	(0.6)	(1.9)
Valuation allowance at end of year	$ 1.2	$ 1.6	$ 2.2

NET INCOME PER COMMON SHARE (Tables)

12 Months Ended

Oct. 31, 2023

Earnings Per Share [Abstract]

Schedule of Basic and Diluted Net Income Per Common Share

Basic and Diluted Net Income Per Common Share Calculations


	Years Ended October 31,
(in millions, except per share amounts)	2023		2022		2021


Net income	$	251.3	$	230.4	$	126.3

Weighted-average common and common equivalent shares outstanding — Basic	66.0		67.1		67.4
Effect of dilutive securities
RSUs	0.2		0.2		0.3

Performance shares	0.2		0.2		0.2
Weighted-average common and common equivalent shares outstanding — Diluted	66.3		67.5		68.0

Net income per common share
Basic	$	3.81	$	3.44	$	1.87

Diluted	$	3.79	$	3.41	$	1.86

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

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


	Years Ended October 31,
(in millions)	2023	2022	2021
Anti-dilutive	0.3	—	—

SCHEDULE II - VALULATION AND QUALIFYING ACCOUNTS

12 Months Ended

Oct. 31, 2023

SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]

SCHEDULE II - VALULATION AND QUALIFYING ACCOUNTS

SCHEDULE II—VALUATION AND QUALIFYING ACCOUNTS


(in millions)	Balance Beginning of Year		Additions from Acquisitions	Charges to Costs and Expenses	Write-offs(1)/ Allowance Taken	Balance End of Year
Accounts receivable and sales allowances
2023	$	22.6	—	76.0	(73.6)	$	25.0
2022	32.7		1.4	60.6	(72.1)	22.6
2021	35.5		1.3	44.3	(48.4)	32.7

(1) Write-offs are net of recoveries.

PREFERRED AND COMMON STOCK

12 Months Ended

Oct. 31, 2023

Stockholders' Equity Note [Abstract]

PREFERRED AND COMMON STOCK

Preferred Stock

We are authorized to issue 500,000 shares of preferred stock. None of these preferred shares are issued.

Common Stock

Effective December 18, 2019, our Board of Directors replaced our then-existing share repurchase program with a new share repurchase program under which we may repurchase up to $150.0 million of our common stock. Effective December 9, 2022, and December 13, 2023, our Board of Directors expanded the Share Repurchase Program by $150.0 millionand $150.0 million, respectively. Share repurchases may take place on the open market or otherwise, and all or part of the repurchases may be made pursuant to Rule 10b5-1 plans or in privately negotiated transactions. The timing of repurchases is at our discretion and will depend upon several factors, including market and business conditions, future cash flows, share price, share availability, and other factors. Repurchased shares are retired and returned to an authorized but unissued status. The repurchase program may be suspended or discontinued at any time without prior notice.

Repurchase Activity

We repurchased shares under the share repurchase program during the year ended October 31, 2023, as summarized below. At October 31, 2023, authorization for $60.3 million of repurchases remained under the Share Repurchase Program.


	Years Ended October 31,
(in millions, except per share amounts)	2023		2022
Total number of shares purchased	3.3		2.3
Average price paid per share(1)	$	41.06	$	42.15
Total cash paid for share repurchases(1)	$	137.1	$	97.5

(1) Average price paid per share and total cash paid for share repurchases does not include any excise tax for stock repurchases as part of the Inflation Reduction Act of 2022.

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
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+ Details

SHARE-BASED COMPENSATION PLANS - Schedule of RSU and Performance Share Activity (Details) - $ / shares shares in Millions	12 Months Ended
	Oct. 31, 2023	Oct. 31, 2022	Oct. 31, 2021
RSUs
Number of Shares
Beginning balance (in shares)	1.0
Granted (in shares)	0.5
Vested (in shares)	(0.4)
Forfeited (in shares)	(0.1)
Ending balance (in shares)	1.0	1.0
Weighted-Average Grant Date Fair Value per Share
Beginning balance (in USD per share)	$ 38.58
Granted (in USD per share)	44.37	$ 41.63	$ 40.22
Vested (in USD per share)	38.80
Forfeited (in USD per share)	42.71
Ending balance (in USD per share)	$ 41.09	$ 38.58
Shares withheld for income taxes (in shares)	0.2
Performance shares
Number of Shares
Beginning balance (in shares)	1.0
Granted (in shares)	0.4
Vested (in shares)	(0.4)
Performance adjustments (in shares)	0.0
Forfeited (in shares)	0.0
Ending balance (in shares)	0.9	1.0
Weighted-Average Grant Date Fair Value per Share
Beginning balance (in USD per share)	$ 41.30
Granted (in USD per share)	46.47	$ 43.06	$ 39.97
Vested (in USD per share)	38.08
Performance adjustments (in USD per share)	52.78
Forfeited (in USD per share)	42.30
Ending balance (in USD per share)	$ 44.43	$ 41.30
Shares withheld for income taxes (in shares)	0.1

SUBSEQUENT EVENTS (Details) - USD ($)	Dec. 13, 2023	Oct. 31, 2023	Dec. 09, 2022	Dec. 18, 2019
Subsequent Event [Line Items]
Authorized repurchase amount of common stock				$ 150,000,000
Expansion of share repurchase program			$ 150,000,000
Remaining amount of authorized repurchases of common stock		$ 60,300,000
Subsequent Event
Subsequent Event [Line Items]
Expansion of share repurchase program	$ 150,000,000
Remaining amount of authorized repurchases of common stock	$ 210,300,000

SHARE-BASED COMPENSATION PLANS - Schedule of Monte Carlo Assumptions (Details) - Performance shares - $ / shares	12 Months Ended
	Oct. 31, 2023	Oct. 31, 2022	Oct. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected life	2 years 9 months 21 days	2 years 9 months 21 days	2 years 9 months 21 days
Expected stock price volatility	39.90%	41.80%	42.90%
Risk-free interest rate	4.00%	1.10%	0.20%
Stock price (in USD per share)	$ 46.19	$ 42.88	$ 40.75

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

INCOME TAXES

12 Months Ended

Oct. 31, 2023

Income Tax Disclosure [Abstract]

INCOME TAXES

Geographic Sources of Income Before Income Taxes


	Years Ended October 31,
(in millions)	2023		2022		2021
United States	$	294.3	$	278.5	$	152.8
Foreign	36.8		31.5		27.0
Income before income taxes	$	331.1	$	310.0	$	179.8

Components of Income Tax Provision


	Years Ended October 31,
(in millions)	2023		2022		2021
Current:
Federal	$	(50.6)	$	3.5	$	(66.3)
State	(25.0)		(6.0)		(27.4)
Foreign	(9.0)		(9.4)		(7.8)
Deferred:
Federal	(0.5)		(46.1)		34.9
State	5.3		(22.1)		13.2
Foreign	0.1		0.5		(0.1)
Income tax provision	$	(79.7)	$	(79.6)	$	(53.5)

Reconciliation of the U.S. Statutory Tax Rate to Annual Effective Tax Rate


	Years Ended October 31,
	2023		2022		2021
U.S. statutory rate	21.0	%	21.0	%	21.0	%
State and local income taxes, net of federal tax benefit	6.9		7.7		6.8
Federal and state tax credits	(1.0)		(1.5)		(2.6)
Impact of foreign operations	0.8		(0.1)		0.3
Changes in uncertain tax positions	0.1		(2.5)		1.5
Incremental tax benefit from share-based compensation awards	(0.7)		(0.5)		(0.4)
Energy efficiency incentives	(0.1)		(0.3)		(0.7)
Nondeductible executive compensation	1.4		1.4		0.4
Nontaxable RavenVolt contingent consideration	(3.9)		—		—
Other nondeductible expenses	0.6		0.3		2.3
Other, net	(1.0)		0.2		1.2
Effective tax rate	24.1	%	25.7	%	29.8	%

During 2023 and 2022, we had effective tax rates of 24.1% and 25.7%, respectively, resulting in a provision for tax of $79.7 million and $79.6 million, respectively. Our effective tax rate for 2023 was impacted by a $12.8 million benefit related to the non-taxable change in the fair value of the contingent consideration related to the RavenVolt Acquisition, a $2.2 million benefit for share-based compensation; and a $1.5 million benefit for return to provision adjustment primarily related to state and local deferred income taxes; partially offset by a $4.8 million expense related to non-deductible executive compensation. Our effective tax rate for 2022 was impacted by the following items: an $8.1 million benefit for uncertain tax positions with expiring statutes; a $1.4 million benefit for share-based compensation; and a $1.3 million return to provision adjustments.

Under various payroll tax provisions included in the CARES Act, through December 31, 2020, we deferred approximately $132 million of payroll tax. The deferred payroll tax has been remitted in full: $66 million was paid in

December 2021 and the remaining $66 million was paid in December 2022. The CARES Act did not have a material impact on our income tax provision.

Components of Deferred Tax Assets and Liabilities


	As of October 31,
(in millions)	2023		2022
Deferred tax assets attributable to:
Self-insurance claims (net of recoverables)	$	95.2	$	96.1
Deferred and other compensation	31.4		33.0
Accounts receivable allowances	7.8		5.8
Settlement liabilities	4.5		10.4
Other accruals	4.3		4.8

State taxes	1.5		1.2
State net operating loss carryforwards	2.6		3.2
Tax credits	2.3		3.1
Unrecognized tax benefits	3.6		3.3
Deferred payroll taxes	—		18.1
Operating lease liabilities	27.3		31.0
Gross deferred tax assets	180.5		210.0
Valuation allowance	(1.2)		(1.6)
Total deferred tax assets	179.3		208.4

Deferred tax liabilities attributable to:
Property, plant and equipment	(4.3)		(5.4)
Goodwill and other acquired intangibles	(200.0)		(222.9)
Right-of-use assets	(28.6)		(31.9)
Tax accounting method change	(11.7)		(17.1)
Other comprehensive Income	(8.4)		(9.0)
Other	(11.3)		(11.8)
Total deferred tax liabilities	(264.3)		(298.1)

Net deferred tax liabilities	$	(85.0)	$	(89.7)

Net Operating Loss Carryforwards and Credits

State net operating loss carryforwards totaling $48.7 million at October 31, 2023, are being carried forward in several state jurisdictions where we are permitted to use net operating losses from prior periods to reduce future taxable income. These losses will expire between 2024 and 2043. Federal net operating loss carryforwards were fully utilized during 2022. Federal and state tax credit carryforwards totaling $2.7 million are available to reduce future cash taxes and will expire between 2024 and 2043.

The valuation allowance represents the amount of tax benefits related to state net operating loss carryforwards that are not likely to be realized. We believe the remaining deferred tax assets are more likely than not to be realizable based on estimates of future taxable income.

Changes to the Valuation Allowance


	Years Ended October 31,
(in millions)	2023		2022		2021
Valuation allowance at beginning of year	$	1.6	$	2.2	$	4.1
Other, net	(0.4)		(0.6)		(1.9)
Valuation allowance at end of year	$	1.2	$	1.6	$	2.2

Unrecognized Tax Benefits

At October 31, 2023, 2022, and 2021, there were $20.7 million, $22.0 million, and $30.4 million, respectively, of unrecognized tax benefits that if recognized in the future would impact our effective tax rate. We estimate that a decrease in unrecognized tax benefits of up to approximately $0.7 million is reasonably possible over the next 12 months due to lapses of applicable statutes of limitations. At October 31, 2023 and 2022, accrued interest and penalties were $1.4 million and $0.7 million, respectively. For interest and penalties, we recognized a $0.7 million expense, a $0.9 million benefit, and a $0.1 million expense in 2023, 2022, and 2021, respectively.

Reconciliation of Total Unrecognized Tax Benefits


	Years Ended October 31,
(in millions)	2023		2022		2021
Balance at beginning of year	$	22.0	$	30.4	$	35.5
Additions for tax positions related to the current year	—		—		3.7
Additions for tax positions related to prior years	2.1		0.3		0.3
Reductions for tax positions related to prior years	(1.5)		(1.5)		(5.3)
Reductions for lapse of statute of limitations	(1.9)		(7.2)		(2.5)
Settlements	—		—		(1.3)
Balance at end of year	$	20.7	$	22.0	$	30.4

Jurisdictions

We conduct business in all 50 states, significantly in California, Texas, and New York, as well as in various foreign jurisdictions. Our most significant income tax jurisdiction is the United States. Due to expired statutes and closed audits, our federal income tax returns for years prior to fiscal 2020 are no longer subject to examination by the U.S. Internal Revenue Service. Generally, for the majority of state and foreign jurisdictions where we do business, periods prior to fiscal 2020 are no longer subject to examination. We are currently being examined by the tax authorities of California, New York City, Montana, Massachusetts, and Oregon.

- 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.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
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-URI https://asc.fasb.org//740/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org//1943274/2147482685/740-10-50-14

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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-URI https://asc.fasb.org//1943274/2147482685/740-10-50-21

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-Topic 740
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

+ Details

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Millions	Total	Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Loss, Net of Taxes	Retained Earnings
Balance, beginning of year (in shares) at Oct. 31, 2020		66,700,000
Balance, beginning of year at Oct. 31, 2020		$ 0.7	$ 724.1	$ (30.8)	$ 806.4
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock issued under employee stock purchase and share-based compensation plans (in shares)		600,000
Stock issued under employee stock purchase and share-based compensation plans		$ 0.0	(6.7)
Share-based compensation expense			33.5
Repurchase of common stock, including excise taxes (in shares)		0
Repurchase of common stock, including excise taxes		$ 0.0	0.0
Other comprehensive income				8.2
Net income	$ 126.3				126.3
Dividends
Common stock ($0.88, $0.78, and $0.76 per share)					(51.0)
Stock issued under share-based compensation plans					(1.5)
Balance, end of year (in shares) at Oct. 31, 2021		67,300,000
Balance, end of year at Oct. 31, 2021	$ 1,609.2	$ 0.7	750.9	(22.5)	880.2
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock issued under employee stock purchase and share-based compensation plans (in shares)		600,000
Stock issued under employee stock purchase and share-based compensation plans		$ 0.0	(8.4)
Share-based compensation expense			30.5
Repurchase of common stock, including excise taxes (in shares)	(2,300,000)	(2,300,000)
Repurchase of common stock, including excise taxes	$ (97.5)	$ 0.0	(97.5)
Other comprehensive income				6.3
Net income	$ 230.4				230.4
Dividends
Common stock ($0.88, $0.78, and $0.76 per share)					(51.9)
Stock issued under share-based compensation plans					(1.5)
Balance, end of year (in shares) at Oct. 31, 2022	65,587,894	65,500,000
Balance, end of year at Oct. 31, 2022	$ 1,717.2	$ 0.7	675.5	(16.2)	1,057.2
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock issued under employee stock purchase and share-based compensation plans (in shares)		600,000
Stock issued under employee stock purchase and share-based compensation plans		$ 0.0	(9.0)
Share-based compensation expense			30.5
Repurchase of common stock, including excise taxes (in shares)	(3,300,000)	(3,300,000)
Repurchase of common stock, including excise taxes	$ (137.1)	$ (0.1)	(138.1)
Other comprehensive income				6.9
Net income	$ 251.3				251.3
Dividends
Common stock ($0.88, $0.78, and $0.76 per share)					(57.5)
Stock issued under share-based compensation plans					(1.5)
Balance, end of year (in shares) at Oct. 31, 2023	62,847,387	62,800,000
Balance, end of year at Oct. 31, 2023	$ 1,799.9	$ 0.6	$ 558.9	$ (9.2)	$ 1,249.6

INSURANCE - Schedule of Instruments Used to Collateralize Insurance Obligations (Details) - USD ($) $ in Millions	Oct. 31, 2023	Oct. 31, 2022
Letters Of Credit [Line Items]
Instruments used to collateralize insurance obligations	$ 234.7	$ 227.8
Standby letters of credit
Letters Of Credit [Line Items]
Instruments used to collateralize insurance obligations	53.5	153.7
Surety bonds and surety-backed letters of credit
Letters Of Credit [Line Items]
Instruments used to collateralize insurance obligations	178.0	73.2
Restricted insurance deposits
Letters Of Credit [Line Items]
Instruments used to collateralize insurance obligations	$ 3.1	$ 0.9

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Oct. 31, 2023	Oct. 31, 2022
Current assets
Cash and cash equivalents	$ 69.5	$ 73.0
Trade accounts receivable, net of allowances of $25.0 and $22.6 at October 31, 2023 and 2022, respectively	1,365.0	1,278.7
Costs incurred in excess of amounts billed	139.2	75.8
Prepaid expenses	78.5	82.1
Other current assets	58.6	51.6
Total current assets	1,710.7	1,561.2
Other investments	28.8	14.5
Property, plant and equipment, net of accumulated depreciation of $326.5 and $296.9 at October 31, 2023 and 2022, respectively	131.5	125.4
Right-of-use assets	113.4	115.2
Other intangible assets, net of accumulated amortization of $438.3 and $459.8 at October 31, 2023 and 2022, respectively	302.9	378.5
Goodwill	2,491.3	2,485.6
Other noncurrent assets	155.0	188.5
Total assets	4,933.7	4,868.9
Current liabilities
Current portion of debt, net	31.5	181.5
Trade accounts payable	299.1	315.5
Accrued compensation	249.7	246.6
Accrued taxes—other than income	58.9	124.7
Deferred revenue	90.1	46.3
Insurance claims	177.0	171.4
Income taxes payable	17.9	6.6
Current portion of lease liabilities	32.5	30.3
Other accrued liabilities	261.2	230.2
Total current liabilities	1,217.9	1,353.2
Long-term debt, net	1,279.8	1,086.3
Long-term lease liabilities	98.8	104.5
Deferred income tax liability, net	85.0	89.7
Noncurrent insurance claims	387.5	387.7
Other noncurrent liabilities	61.1	126.0
Noncurrent income taxes payable	3.7	4.2
Total liabilities	3,133.8	3,151.7
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; 62,847,387 and 65,587,894 shares issued and outstanding at October 31, 2023 and 2022, respectively	0.6	0.7
Additional paid-in capital	558.9	675.5
Accumulated other comprehensive loss, net of taxes	(9.2)	(16.2)
Retained earnings	1,249.6	1,057.2
Total stockholders’ equity	1,799.9	1,717.2
Total liabilities and stockholders’ equity	$ 4,933.7	$ 4,868.9

DEBT

12 Months Ended

Oct. 31, 2023

Debt Disclosure [Abstract]

DEBT

Components of Debt


	As of October 31,
(in millions)	2023		2022
Current portion of long-term debt
Gross term loan	$	32.5	$	32.5
Unamortized deferred financing costs	(1.0)		(1.0)
Current portion of term loan	$	31.5	$	31.5
Receivables facility	—		150.0
Current portion of debt	$	31.5	$	181.5

Long-term debt
Gross term loan	$	536.3	$	568.8
Unamortized deferred financing costs	(1.5)		(2.4)
Total noncurrent portion of term loan	534.8		566.3
Revolving line of credit(1)(2)	745.0		520.0
Long-term debt	$	1,279.8	$	1,086.3

(1) Standby letters of credit amounted to $58.2 million at October 31, 2023.

(2) At October 31, 2023, we had borrowing capacity of $483.0 million.

At October 31, 2023, and October 31, 2022, the weighted average interest rate on our outstanding borrowings, not including letters of credit and swaps, was 7.17%.and 4.97%, respectively.

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, consisting of a $900.0 million revolving line of credit and an $800.0 million amortizing term loan, both of which were scheduled to mature on September 1, 2022. In accordance with the terms of the Credit Facility, the revolving line of credit was reduced to $800.0 million on September 1, 2018.

On June 28, 2021, the Company amended and restated the Credit Facility with the Second Amendment, 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 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.

At November 1, 2022, we amended our Amended Credit Facility pursuant to the LIBOR Transition Amendment and the Fifth Amendment to replace the benchmark rate at which U.S.-dollar-denominated borrowings bear interest from LIBOR to the forward-looking Secured Overnight Financing Rate (“SOFR”) term rate administered by CME Group Benchmark Administration Limited. As a result of these amendments, we can borrow at Term SOFR plus a credit spread adjustment of 0.10% subject to a floor of zero.

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. We did not make this election for the Able Acquisition. Our borrowing capacity is subject to, and limited by, compliance with the covenants described above. At October 31, 2023, 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 Second Amendment and carried over $6.2 million of unamortized deferred financing from the initial execution, First Amendment, 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.

On March 1, 2022, we entered into an uncommitted receivable repurchase facility (the “Receivables Facility”) of up to $150 million, which expired on March 30, 2023. We accounted for the sale of receivables under the Receivables Facility as short-term debt and carried the receivables on the Consolidated Balance Sheets, primarily as a result of the requirement to repurchase receivables sold.

Long-Term Loan Maturities

During 2023, we made principal payments under the term loan of $32.5 million. As of October 31, 2023, the following principal payments are required under the term loan.


(in millions)	2024		2025		2026		2027		2028
Debt maturities	$	32.5	$	32.5	$	1,248.8	$	—	$	—

Interest Rate Swaps

We enter into interest rate swaps to manage the interest rate risk associated with our floating-rate, SOFR-based borrowings. Under these arrangements, we typically pay a fixed interest rate in exchange for SOFR-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 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 7, “Fair Value of Financial Instruments,” regarding the valuation of our interest rate swaps.

Notional Amount

Fixed Interest Rate

Effective Date

Maturity Date

$ 100.0 million

1.72%

February 9, 2022

June 28, 2026

$ 150.0 million

1.85%

February 25, 2022

June 28, 2026

$ 100.0 million

2.88%

May 4, 2022

June 28, 2026

$ 218.8 million(1)

2.83%

July 7, 2022

June 28, 2026

$ 81.3 million(1)

2.79%

July 18, 2022

June 28, 2026

$ 170.0 million

3.81%

November 1, 2022

June 28, 2026

(1) In July 2022, we entered into interest rate swap agreements with notional values totaling $300.0 million at inception. The notional amount reduces to $250.0 million in April 2024, $175.0 million in October 2024, and $100.0 million in October 2025 before maturing on June 28, 2026.

At October 31, 2023 and 2022, amounts recorded in AOCL for interest rate swaps were a gain of $26.0 million, net of taxes of $10.5 million, and a gain of $26.8 million, net of taxes of $10.1 million, respectively. In 2022, these amounts included the gain associated with the interest rate swaps we terminated in 2018, which was amortized to interest expense as interest payments were made over the original term of our Credit Facility. During 2022, we amortized $3.5 million, net of taxes of $1.3 million, of that gain. At October 31, 2023, the total amount expected to be reclassified from AOCL to earnings during the next 12 months was $9.8 million, net of a taxes of $3.8 million.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//470/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

+ Details

SEGMENT AND GEOGRAPHIC INFORMATION - Schedule of Financial Information by Reportable Segment (Details) - USD ($) $ in Millions		12 Months Ended
	Oct. 31, 2023	Oct. 31, 2023	Oct. 31, 2022	Oct. 31, 2021
Revenues
Revenues		$ 8,096.4	$ 7,806.6	$ 6,228.6
Operating profit
Operating profit		409.5	348.8	206.3
Income from unconsolidated affiliates		3.9	2.4	2.1
Interest expense		(82.3)	(41.1)	(28.6)
Income before income taxes		331.1	310.0	179.8
Depreciation and amortization
Depreciation and amortization		120.7	112.4	89.9
Change in fair value of contingent consideration		45.6	0.0	0.0
Employee retention credit		24.0
RavenVolt \| Fair Value Measurements, Recurring \| Fair Value, Inputs, Level 3
Depreciation and amortization
Change in fair value of contingent consideration	$ 45.6	45.6
Bucio \| Settled Litigation
Depreciation and amortization
Employee retention				142.9
Business & Industry
Revenues
Revenues		4,089.4	4,095.9	2,853.8
Manufacturing & Distribution
Revenues
Revenues		1,526.7	1,445.2	1,363.1
Education
Revenues
Revenues		880.4	834.7	830.8
Aviation
Revenues
Revenues		925.7	804.0	651.1
Technical Solutions
Revenues
Revenues		674.2	626.8	529.8
Technical Solutions \| Disposal Group, Disposed of by Sale, Not Discontinued Operations \| Customer Contracts For Healthcare Technology Management
Depreciation and amortization
Gain on sale of government services business			7.6
Operating Segments \| Business & Industry
Operating profit
Operating profit		315.6	334.9	285.9
Depreciation and amortization
Depreciation and amortization		44.9	47.1	18.4
Operating Segments \| Manufacturing & Distribution
Operating profit
Operating profit		161.7	161.8	155.5
Depreciation and amortization
Depreciation and amortization		13.1	13.4	13.4
Operating Segments \| Education
Operating profit
Operating profit		49.7	47.1	61.5
Depreciation and amortization
Depreciation and amortization		22.5	25.4	30.5
Operating Segments \| Aviation
Operating profit
Operating profit		60.0	29.3	32.1
Depreciation and amortization
Depreciation and amortization		9.6	8.2	9.1
Operating Segments \| Technical Solutions
Operating profit
Operating profit		53.2	63.8	49.4
Depreciation and amortization
Depreciation and amortization		17.5	7.0	5.9
Operating Segments \| Government Services
Operating profit
Operating profit		0.0	(0.3)	(0.2)
Corporate
Operating profit
Operating profit		(226.6)	(284.5)	(374.6)
Depreciation and amortization
Depreciation and amortization		13.1	11.4	12.7
Segment Reconciling Items
Operating profit
Income from unconsolidated affiliates		(3.9)	(2.4)	(2.1)
Adjustment for tax deductions for energy efficient government buildings, included in Technical Solutions		$ (0.3)	$ (0.9)	$ (1.2)

FAIR VALUE OF FINANCIAL INSTRUMENTS

12 Months Ended

Oct. 31, 2023

Fair Value Disclosures [Abstract]

FAIR VALUE OF FINANCIAL INSTRUMENTS

Fair Value Hierarchy of Our Financial Instruments

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


		As of October 31,
(in millions)	Fair Value Hierarchy	2023		2022
Cash and cash equivalents(1)	1	$	69.5	$	73.0
Insurance deposits(2)	1	3.1		0.9
Assets held in funded deferred compensation plan(3)	1	4.0		4.1
Debt facilities (4)	2	1,313.8		1,271.3
Interest rate swap assets(5)	2	36.4		36.9

Preferred equity investments(6)	3	15.4		3.0
Contingent consideration(7)	3	13.4		59.0

(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 Consolidated Balance Sheets. See Note 10, “Insurance,” for further information.

(3) Represents investments held in Rabbi trusts associated with two of our deferred compensation plans, which we include in “Other noncurrent assets” on the accompanying Consolidated Balance Sheets. The fair value of the assets held in the funded deferred compensation plan is based on quoted market prices. See Note 12, “Employee Benefit Plans,” for further information.

(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 11, “Debt,” 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 Secured Overnight Financing Rate (“SOFR”) forward rates at the end of the period. At October 31, 2023 and 2022, our interest rate swap assets and liabilities are included in “Other noncurrent assets” and “Other noncurrent liabilities,” respectively, on the accompanying Consolidated Balance Sheets. See Note 11, “Debt,” for further information.

(6) We purchased $12.4 million in a preferred equity investment and preferred stock warrants of a privately held company that specializes in the development of electric vehicle charging stations and related software during the year ended October 31, 2023, which we include within “Other investments” on the accompanying Consolidated Balance Sheet. Our total investments in preferred equity securities amounted to $15.4 million at October 31, 2023. Our investments do not have a readily determinable fair value; therefore, we account for the investments using the measurement alternative under Topic 321 and measure the investments at initial cost less impairment, if any.

(7) At October 31, 2023, our contingent consideration payable related to the RavenVolt Acquisition is recorded at fair value as a liability on the acquisition date and is remeasured at each reporting date, based on significant inputs not observable in the market, which represents a Level 3 measurement within the fair value hierarchy. At September 1, 2022, we recorded the contingent consideration at fair value of $59.0 million. After the acquisition date and until the contingency is resolved, the fair value of contingent consideration payable is adjusted each reporting period based primarily on the expected probability of achievement of the contingency targets which are subject to our estimate. These changes in fair value are recognized within “Selling, general and administrative expenses” of the Consolidated Statements of Comprehensive Income. See Note 3, “Acquisitions,” for further information.

There were no transfers to or from Level 3 financial assets or liabilities during 2023 and 2022. At October 31, 2022, the Company had no financial assets or liabilities recorded at fair value using Level 3 inputs.

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,

we would evaluate these non-financial assets for impairment. If an impairment were to occur, the asset would be recorded at the estimated fair value, using primarily unobservable Level 3 inputs.

During the first quarter of 2022, we performed a reorganization of our T&M segment, and reallocated $95.0 million of goodwill from our B&I segment to our M&D segment using a relative fair value approach. M&D’s goodwill balance was $502.2 million after the reorganization, which includes $407.2 million of previously recorded goodwill from our T&M segment. In addition, we completed an assessment of any potential goodwill impairment for all reporting units immediately prior to and following the reallocation and determined that no impairment existed.

During the third quarter of 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 implemented. The impairment charge reduced the carrying value to zero for those components and is recorded in “Selling, general and administrative expenses” on our Consolidated Statements of Comprehensive Income for the year ended October 31, 2021.

- 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

Audit Information	12 Months Ended
Audit Information	Oct. 31, 2023
Auditor Information [Abstract]
Auditor Name	KPMG LLP
Auditor Location	New York, New York
Auditor Firm ID	185

DEBT - Narrative (Details)			12 Months Ended
DEBT - Narrative (Details)	Nov. 01, 2022	Sep. 01, 2017 USD ($)	Oct. 31, 2023 USD ($)	Oct. 31, 2022 USD ($)	Oct. 31, 2021 USD ($)	Mar. 01, 2022 USD ($)	Jun. 28, 2021 USD ($)	Jun. 27, 2021 USD ($)	Sep. 01, 2018 USD ($)	Aug. 31, 2017 USD ($)
Debt Instrument [Line Items]
Deferred financing costs							$ 12,600,000
Receivables facility			$ 0	$ 150,000,000.0		$ 150,000,000
Debt instrument, periodic payment, principal			32,500,000
Interest expense			82,300,000	41,100,000	$ 28,600,000
Interest rate cash flow hedge gain to be reclassified during next 12 months, net			9,800,000
Tax to be reclassified during the next 12 months			3,800,000
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent
Debt Instrument [Line Items]
Net gain (loss) from cash flow hedges recorded in accumulated other comprehensive loss, net of tax			26,000,000	26,800,000
Tax related to amounts in accumulated other comprehensive loss			$ 10,500,000	10,100,000
Interest expense				3,500,000
Interest expense, tax				$ 1,300,000
Line of Credit
Debt Instrument [Line Items]
Deferred financing costs							7,700,000
Term Loan
Debt Instrument [Line Items]
Deferred financing costs							4,900,000
Credit Facility
Debt Instrument [Line Items]
Weighted average interest rate			7.17%	4.97%
Line of credit facility, term		5 years
Floor on credit spread adjustment	0
Total net leverage ratio	5.00
Secured net leverage ratio	4.00
Interest coverage ratio	1.50
Deferred financing costs							6,400,000
Credit Facility \| Scenario, Material Acquisition
Debt Instrument [Line Items]
Total net leverage ratio	5.50
Secured net leverage ratio	4.50
Credit Facility \| SOFR
Debt Instrument [Line Items]
Basis spread on variable rate	0.10%
Credit Facility \| Standby letters of credit
Debt Instrument [Line Items]
Line of credit, borrowing capacity							350,000,000
Credit Facility \| Swing Line Loan
Debt Instrument [Line Items]
Line of credit, borrowing capacity							75,000,000
Credit Facility \| Line of Credit \| Revolving Credit Facility
Debt Instrument [Line Items]
Line of credit, borrowing capacity		$ 900,000,000					1,300,000,000	$ 800,000,000	$ 800,000,000	$ 800,000,000
Credit Facility \| Term Loan
Debt Instrument [Line Items]
Debt instrument, face amount		$ 800,000,000					650,000,000	$ 620,000,000
Deferred financing costs							$ 6,200,000

REVENUES - Narrative (Details) $ in Millions	Oct. 31, 2023 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Amount of remaining performance obligation	$ 332.8
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-11-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Percentage of remaining performance obligation	69.00%
Remaining performance obligation period	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-11-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation period

LEASES - Schedule of Supplemental Cash and Non-cash Information (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2023	Oct. 31, 2022	Oct. 31, 2021
Leases [Abstract]
Operating cash flows from operating leases	$ 37.9	$ 35.3
Operating cash flows from finance leases	0.5	0.4
Financing cash flows from finance leases	3.0	1.9	$ 2.8
Lease assets obtained in exchange for new operating lease liabilities	$ 28.7	$ 23.1

COMMITMENTS AND CONTINGENCIES (Details) - USD ($)	Oct. 31, 2023	Oct. 31, 2022
Loss Contingencies [Line Items]
Standby letters of credit	$ 58,200,000
Surety bonds and surety-backed letters of credit	776,200,000
Minimum
Loss Contingencies [Line Items]
Amount of reasonably possible loss	0
Maximum
Loss Contingencies [Line Items]
Amount of reasonably possible loss	5,700,000
Pending Litigation
Loss Contingencies [Line Items]
Loss contingency accrual	13,900,000
Energy Savings Contracts
Loss Contingencies [Line Items]
Guarantee obligation	$ 218,000,000	$ 230,500,000

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES - Schedule of Estimated Useful Lives of Property, Plant and Equipment (Details)	Oct. 31, 2023
Computer equipment and software \| Minimum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful lives	3 years
Computer equipment and software \| Maximum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful lives	7 years
Machinery and other equipment \| Minimum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful lives	3 years
Machinery and other equipment \| Maximum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful lives	5 years
Transportation equipment \| Minimum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful lives	1 year 6 months
Transportation equipment \| Maximum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful lives	10 years
Buildings \| Minimum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful lives	10 years
Buildings \| Maximum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful lives	40 years
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful lives	5 years

REVENUES

12 Months Ended

Oct. 31, 2023

Revenue from Contract with Customer [Abstract]

REVENUES

Disaggregation of Revenues

We generate revenues under several types of contracts, which are further described in Note 2, “Basis of Presentation and Significant Accounting Policies.” 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 B&I, M&D, Education, Aviation, and Technical Solutions, as described in Note 17, “Segment and Geographic Information.”


	Year Ended October 31, 2023
(in millions)	B&I		M&D		Education		Aviation		Technical Solutions		Total
Major Service Line
Janitorial(1)	$	2,745.2	$	1,330.8	$	774.8	$	146.9	$	—	$	4,997.7
Parking(2)	408.2		42.5		0.8		329.3		—		780.8
Facility Services(3)	936.0		153.4		104.8		32.0		—		1,226.2
Building & Energy Solutions(4)	—		—		—		—		674.2		674.2
Airline Services(5)	—		—		—		417.5		—		417.5
Total	$	4,089.4	$	1,526.7	$	880.4	$	925.7	$	674.2	$	8,096.4


	Year Ended October 31, 2022
(in millions)	B&I		M&D		Education		Aviation		Technical Solutions		Total
Major Service Line
Janitorial(1)	$	2,746.6	$	1,242.4	$	720.6	$	119.8	$	—	$	4,829.4
Parking(2)	354.3		36.6		0.9		311.7		—		703.6
Facility Services(3)	995.0		166.2		113.2		28.3		—		1,302.7
Building & Energy Solutions(4)	—		—		—		—		626.8		626.8
Airline Services(5)	—		—		—		344.2		—		344.2
Total	$	4,095.9	$	1,445.2	$	834.7	$	804.0	$	626.8	$	7,806.6

(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 Topic 853; 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, including microgrid systems installation, electrical, HVAC, lighting, electric vehicle charging station installation, and other general maintenance and repair services for clients in the public and private sectors and are generally structured as Energy Savings and 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.

Remaining Performance Obligations

Contract Balances

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


	As of October 31,
(in millions)	2023		2022
Contract assets
Billed trade receivables(1)	$	1,219.6	$	1,138.8
Unbilled trade receivables(1)	170.4		162.5
Costs incurred in excess of amounts billed(2)	139.2		75.8
Capitalized commissions(3)	30.2		30.9

(1) Included in “Trade accounts receivable, net” on the 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 Consolidated Balance Sheets. During the year ended October 31, 2023, we capitalized $14.5 million of new costs and amortized $15.2 million of previously capitalized costs. There was no impairment loss recorded on the costs capitalized.


(in millions)	Year Ended October 31, 2023
Contract liabilities(1)
Balance at beginning of year	$	79.6
Additional contract liabilities	335.9
Recognition of deferred revenue	(274.3)
Balance at end of year	$	141.2

(1) Included in other accrued liabilities on the 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
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-9

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-10

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-15

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-13

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org//606/tableOfContent

+ Details

THE COMPANY AND NATURE OF OPERATIONS	12 Months Ended
THE COMPANY AND NATURE OF OPERATIONS	Oct. 31, 2023
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.

EMPLOYEE BENEFIT PLANS - Schedule of Multiemployer Defined Benefit Pension Plans (Details) - Multiemployer Plans, Pension Plans - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2023	Oct. 31, 2022	Oct. 31, 2021
Multiemployer Plans [Line Items]
Total Contributions	$ 73.6	$ 73.8	$ 56.8
Building Service 32BJ Pension Fund
Multiemployer Plans [Line Items]
Contributions by ABM, significant	21.4	22.7	18.8
S.E.I.U National Industry Pension Fund
Multiemployer Plans [Line Items]
Contributions by ABM, significant	19.3	17.6	10.9
Central Pension Fund of the IUOE & Participating Employers
Multiemployer Plans [Line Items]
Contributions by ABM, significant	13.0	12.8	5.3
SEIU Local 1 & Participating Employers Pension Trust
Multiemployer Plans [Line Items]
Contributions by ABM, significant	4.8	5.8	3.9
IUOE Stationary Engineers Local 39 Pension Plan
Multiemployer Plans [Line Items]
Contributions by ABM, significant	4.6	4.4	6.6
Western Conference of Teamsters Pension Plan
Multiemployer Plans [Line Items]
Contributions by ABM, significant	2.4	2.2	2.0
All Other Plans
Multiemployer Plans [Line Items]
Contributions by ABM, insignificant	$ 8.0	$ 8.2	$ 9.3

COMMITMENTS AND CONTINGENCIES	12 Months Ended
COMMITMENTS AND CONTINGENCIES	Oct. 31, 2023
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 October 31, 2023, these letters of credit totaled $58.2 million, and surety bonds and surety-backed letters of credit totaled $776.2 million, respectively. Guarantees In some instances, we offer clients guaranteed energy savings under certain energy savings contracts. At October 31, 2023 and 2022, total guarantees were $218.0 million and $230.5 million, respectively, and these guarantees extend through 2043 and 2042, respectively. 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. Indemnifications We are party to a variety of agreements under which we may be obligated to indemnify the other party for certain matters. These agreements are primarily standard indemnification arrangements entered into in our ordinary course of business. Pursuant to these arrangements, we may agree to indemnify, hold harmless, and reimburse the indemnified parties for losses suffered or incurred by the indemnified party, generally our clients, in connection with any claims arising out of the services that we provide. We also incur costs to defend lawsuits or settle claims related to these indemnification arrangements, and in most cases these costs are paid from our insurance program. Although we attempt to place limits on such indemnification arrangements related to the size of the contract, the maximum obligation may not be explicitly stated and, as a result, we are unable to determine the maximum potential amount of future payments we could be required to make under these arrangements. Our certificate of incorporation and bylaws may require us to indemnify our directors and officers for certain liabilities that were incurred as a result of their status or service to ABM as a director or officer. The amount of these obligations cannot be reasonably estimated. Unclaimed Property Audits We routinely remit escheat payments to states in compliance with applicable escheat laws, and we are subject to unclaimed property audits by states in the ordinary course of business. The property subject to review in the audit process may include unclaimed wages, vendor payments, or customer refunds. State escheat laws generally require entities to report and remit abandoned or unclaimed property to the state, and failure to do so can result in assessments that could include interest and penalties in addition to the payment of the escheat liability. 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 October 31, 2023, the total amount accrued for probable litigation losses where a reasonable estimate of the loss could be made was $13.9 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 $5.7 million. Factors underlying this estimated range of loss may change from time to time, and actual results may vary significantly from this estimate. 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.

THE COMPANY AND NATURE OF OPERATIONS (Details)	12 Months Ended
THE COMPANY AND NATURE OF OPERATIONS (Details)	Oct. 31, 2023 industry_group segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of industry groups \| industry_group	4
Number of technical solution segments \| segment	1

ACQUISITIONS AND DISPOSITIONS - Narrative (Details) - USD ($)					12 Months Ended
	Oct. 31, 2023	Sep. 01, 2022	Apr. 07, 2022	Sep. 30, 2021	Dec. 31, 2026	Oct. 31, 2023	Oct. 31, 2022	Oct. 31, 2021	Dec. 31, 2025	Dec. 31, 2024
Business Acquisition [Line Items]
Change in fair value of contingent consideration						$ 45,600,000	$ 0	$ 0
Goodwill	$ 2,491,300,000					2,491,300,000	$ 2,485,600,000	2,228,900,000
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal, Statement of Income or Comprehensive Income [Extensible Enumeration]							Selling, general and administrative expenses
Technical Solutions
Business Acquisition [Line Items]
Goodwill	368,000,000.0					368,000,000.0	$ 367,400,000	$ 162,700,000
Technical Solutions \| Disposal Group, Disposed of by Sale, Not Discontinued Operations \| Customer Contracts For Healthcare Technology Management
Business Acquisition [Line Items]
Sale of customer contracts for clinical engineering services, consideration							8,500,000
Gain on sale of government services business							7,600,000
Fair Value, Inputs, Level 3 \| Fair Value Measurements, Recurring
Business Acquisition [Line Items]
Fair value of contingent consideration	13,400,000					13,400,000	$ 59,000,000.0
RavenVolt
Business Acquisition [Line Items]
Cash purchase price		$ 170,000,000
Fair value of contingent consideration		59,000,000
Goodwill tax deductible amount		0
Goodwill		207,400,000
Intangibles acquired		16,700,000
RavenVolt \| Fair Value, Inputs, Level 3 \| Fair Value Measurements, Recurring
Business Acquisition [Line Items]
Fair value of contingent consideration	13,400,000					13,400,000
Change in fair value of contingent consideration	$ 45,600,000					$ 45,600,000
RavenVolt \| Forecast
Business Acquisition [Line Items]
Maximum contingent consideration payable in future years					$ 130,000,000				$ 75,000,000	$ 75,000,000
RavenVolt \| Maximum
Business Acquisition [Line Items]
Potential post-closing contingent consideration		$ 280,000,000
RavenVolt \| Maximum \| Forecast
Business Acquisition [Line Items]
Potential post-closing contingent consideration					$ 280,000,000
Momentum
Business Acquisition [Line Items]
Goodwill tax deductible amount			$ 0
Aggregate purchase price			54,800,000
Goodwill			42,900,000
Intangibles acquired			10,400,000
Total assets acquired, excluding goodwill and intangibles			20,400,000
Liabilities assumed			$ 18,900,000
Able
Business Acquisition [Line Items]
Aggregate purchase price				$ 741,700,000
Cash consideration placed in escrow				12,100,000
Cash consideration placed in escrow for indemnification asset				8,200,000
Able \| Revolving Credit Facility
Business Acquisition [Line Items]
Proceeds from lines of credit				$ 325,000,000
Weighted average interest rate				1.58%

DEBT - Schedule of Long-Term Loan Maturities (Details) - Term Loan $ in Millions	Oct. 31, 2023 USD ($)
Term Loan Maturities
2024	$ 32.5
2025	32.5
2026	1,248.8
2027	0.0
2028	$ 0.0

SCHEDULE II - VALULATION AND QUALIFYING ACCOUNTS (Detail) - Accounts receivable allowances - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2023	Oct. 31, 2022	Oct. 31, 2021
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance Beginning of Year	$ 22.6	$ 32.7	$ 35.5
Additions from Acquisitions	0.0	1.4	1.3
Charges to Costs and Expenses	76.0	60.6	44.3
Write-offs/Allowance Taken	(73.6)	(72.1)	(48.4)
Balance End of Year	$ 25.0	$ 22.6	$ 32.7

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares	12 Months Ended
	Oct. 31, 2023	Oct. 31, 2022	Oct. 31, 2021
Statement of Stockholders' Equity [Abstract]
Common stock, dividends (in USD per share)	$ 0.88	$ 0.78	$ 0.76

REVENUES (Tables)

12 Months Ended

Oct. 31, 2023

Revenue from Contract with Customer [Abstract]

Schedule of Disaggregation of Revenues


	Year Ended October 31, 2023
(in millions)	B&I		M&D		Education		Aviation		Technical Solutions		Total
Major Service Line
Janitorial(1)	$	2,745.2	$	1,330.8	$	774.8	$	146.9	$	—	$	4,997.7
Parking(2)	408.2		42.5		0.8		329.3		—		780.8
Facility Services(3)	936.0		153.4		104.8		32.0		—		1,226.2
Building & Energy Solutions(4)	—		—		—		—		674.2		674.2
Airline Services(5)	—		—		—		417.5		—		417.5
Total	$	4,089.4	$	1,526.7	$	880.4	$	925.7	$	674.2	$	8,096.4


	Year Ended October 31, 2022
(in millions)	B&I		M&D		Education		Aviation		Technical Solutions		Total
Major Service Line
Janitorial(1)	$	2,746.6	$	1,242.4	$	720.6	$	119.8	$	—	$	4,829.4
Parking(2)	354.3		36.6		0.9		311.7		—		703.6
Facility Services(3)	995.0		166.2		113.2		28.3		—		1,302.7
Building & Energy Solutions(4)	—		—		—		—		626.8		626.8
Airline Services(5)	—		—		—		344.2		—		344.2
Total	$	4,095.9	$	1,445.2	$	834.7	$	804.0	$	626.8	$	7,806.6

Schedule of Contract Asset and Liability

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


	As of October 31,
(in millions)	2023		2022
Contract assets
Billed trade receivables(1)	$	1,219.6	$	1,138.8
Unbilled trade receivables(1)	170.4		162.5
Costs incurred in excess of amounts billed(2)	139.2		75.8
Capitalized commissions(3)	30.2		30.9

(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)	Year Ended October 31, 2023
Contract liabilities(1)
Balance at beginning of year	$	79.6
Additional contract liabilities	335.9
Recognition of deferred revenue	(274.3)
Balance at end of year	$	141.2

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

PROPERTY, PLANT AND EQUIPMENT - Schedule of Property, Plant and Equipment (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2023	Oct. 31, 2022	Oct. 31, 2021
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 458.0	$ 422.2
Less: Accumulated depreciation	326.5	296.9
Total	131.5	125.4
Depreciation expense	44.2	40.3	$ 45.0
Machinery and other equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	170.7	158.7
Computer equipment and software
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	110.7	106.8
Transportation equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	79.0	64.1
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	69.3	67.0
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	19.8	17.3
Buildings
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	7.7	7.7
Land
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 0.8	$ 0.7

NET INCOME PER COMMON SHARE - Schedule of Anti-Dilutive Outstanding Stock Awards Issued Under Share-Based Compensation Plans (Details) - shares shares in Millions	12 Months Ended
	Oct. 31, 2023	Oct. 31, 2022	Oct. 31, 2021
Earnings Per Share [Abstract]
Anti-dilutive (in shares)	0.3	0.0	0.0

EMPLOYEE BENEFIT PLANS

12 Months Ended

Oct. 31, 2023

Retirement Benefits [Abstract]

EMPLOYEE BENEFIT PLANS

Defined Benefit Plans

We provide benefits to certain employees under various defined benefit and postretirement benefit plans (collectively, the “Plans”). The Plans were previously amended to preclude new participants. All but one of the Plans are unfunded.

Information for the Plans


	As of October 31,
(in millions)	2023		2022
Net obligations	$	6.1	$	6.0
Projected benefit obligations(1)	11.9		12.2
Fair value of assets	5.8		6.2

(1) At October 31, 2023 and 2022, total projected benefit obligations related to unfunded and underfunded plans were $11.9 million and $12.2 million, respectively.

At October 31, 2023, assets of the Plans were fully invested in fixed income. The expected return on assets was $0.2 million in 2023, $0.4 million in 2022, and $0.3 million in 2021. The aggregate net periodic benefit cost for all Plans was $0.6 million, $0.1 million, and $0.3 million for 2023, 2022, and 2021, respectively. Future benefit payments in the aggregate are expected to be $11.0 million.

Deferred Compensation Plans

We maintain deferred compensation plans that permit eligible employees and directors to defer a portion of their compensation. At October 31, 2023 and 2022, the total liability of all deferred compensation was $27.0 million and $27.5 million, respectively, and these amounts are included in “Other accrued liabilities” and “Other noncurrent liabilities” on the accompanying Consolidated Balance Sheets. Under one of our deferred compensation plans, a Rabbi trust was created to fund the obligations, and we are required to contribute a portion of the deferred compensation contributions for eligible participants. The assets held in the Rabbi trust are not available for general corporate purposes. At October 31, 2023 and 2022, the fair value of these assets was $4.0 million and $4.1 million, respectively, and these amounts are included in “Other noncurrent assets” on the accompanying Consolidated Balance Sheets. Aggregate expense recognized under these deferred compensation plans was $0.5 million, $0.3 million, and $0.2 million for 2023, 2022, and 2021, respectively.

Defined Contribution Plans

We sponsor two defined contribution plans covering certain employees that are subject to the applicable provisions of the Employee Retirement Income Security Act of 1974 and the Internal Revenue Code (“IRC”). Certain plans permit a company match of a portion of the participant’s contributions or a discretionary contribution after the participant has met the eligibility requirements set forth in the plan. During 2023, 2022, and 2021, we made matching contributions required by the plans of $29.8 million, $27.7 million, and $21.6 million, respectively.

Multiemployer Pension and Postretirement Plans

We participate in various multiemployer pension plans under union and industry-wide agreements that provide defined pension benefits to employees covered by collective bargaining agreements. Because of the nature of multiemployer plans, there are risks associated with participation in these plans that differ from single-employer plans. Assets contributed by an employer to a multiemployer plan are not segregated into a separate account and are not restricted to provide benefits only to employees of that contributing employer. In the event another participating employer in a multiemployer plan no longer contributes to the plan, the unfunded obligations of the plan may be borne by the remaining participating employers, including us. In the event of the termination of a multiemployer pension plan or a withdrawal from a multiemployer pension plan, we could incur material liabilities under applicable law.

Key Information for Individually Significant Multiemployer Defined Benefit Pension Plans(1)

($ in millions)

Pension Protection Act

Zone Status(3)

FIP/RP

Status(4)

Contributions by ABM

Surcharge

Imposed(5)

Expiration Dates of Collective Bargaining Agreements

Pension Fund

EIN/PN(2)

2023

2022

Pending/
Implemented

2023

2022

2021

Building Service 32BJ Pension Fund

13-1879376 / 001

Yellow 6/30/2022

Yellow 6/30/2021

Implemented

21.4

22.7

18.8

12/15/2023 - 12/31/2027

S.E.I.U National Industry Pension Fund

52-6148540 / 001

Red 12/31/2022

Red 12/31/2021

Implemented

19.3

17.6

10.9

Yes

6/30/2024 - 7/31/2025

Central Pension Fund of the IUOE & Participating Employers

36-6052390 / 001

Green 1/31/2023

Green 1/31/2022

N/A*

13.0

12.8

5.3

N/A*

12/23/2023 - 6/30/2026

SEIU Local 1 & Participating Employers Pension Trust

36-6486542 / 001

Green 9/30/2022

Green 9/30/2021

N/A*

4.8

5.8

3.9

N/A*

11/30/2023 - 5/31/2026

IUOE Stationary Engineers Local 39 Pension Plan

94-6118939 / 001

Green 12/31/2022

Green 12/31/2021

N/A*

4.6

4.4

6.6

N/A*

11/30/2026 - 12/31/2029

Western Conference of Teamsters Pension Plan

91-6145047 / 001

Green 12/31/2022

Green 12/31/2021

N/A*

2.4

2.2

2.0

N/A*

11/30/2026 - 12/31/2029

All Other Plans:

8.0

8.2

9.3

Total Contributions

73.6

73.8

56.8

*Not applicable

(2) The “EIN/PN” column provides the Employer Identification Number and the three-digit plan number assigned to the plan by the IRS.

(4) Indicates whether a Financial Improvement Plan (“FIP”) for yellow zone plans or a Rehabilitation Plan (“RP”) for red zone plans is pending or implemented.

Multiemployer Pension Plans for which ABM Is a Significant Contributor


Pension Fund						Contributions to the plan exceeded more than 5% of total contributions per most currently available Forms 5500 (as of the plan’s year end)
Apartment Employees Trust Fund*						12/31/2022, 12/31/2021, and 12/31/2020
Arizona Sheet Metal Pension Trust Fund*						6/30/2022, 6/30/2021, and 6/30/2020
Building Service 32BJ Pension Fund						6/30/2022, 6/30/2021, and 6/30/2020
Building Service Pension Plan*						4/30/2022, 4/30/2021, and 4/30/2020
Central Pension Fund of the IUOE & Participating Employers						1/31/2023
Contract Cleaners Service Employees' Pension Plan*						12/31/2022, 12/31/2021, and 12/31/2020
IUOE Stationary Engineers Local 39 Pension Plan						12/31/2022, 12/31/2021, and 12/30/2020
Local 210's Pension Plan*						12/31/2022, 12/31/2021, and 12/31/2020
Local 670 Pension Plan*						12/31/2022
Massachusetts Service Employees Pension Plan*						12/31/2022, 12/31/2021, and 12/31/2020
S.E.I.U National Industry Pension Fund						12/31/2022, 12/31/2021, and 12/31/2020
SEIU Local 1 & Participating Employers Pension Trust						9/30/2022, 9/30/2021, and 9/30/2020
Service Employees International Union Local 1 Cleveland Pension Plan*						12/31/2022, 12/31/2021, and 12/31/2020
Service Employees International Union Local 32BJ, District 36 Building Operators Pension Trust Fund*						12/31/2022, 12/31/2021, and 12/31/2020
Teamsters Local 617 Pension Fund*						2/28/2022, 2/28/2021, and 2/29/2020
U.S.W.U. Local 74 Welfare Fund*						12/31/2022, 12/31/2021, and 12/31/2020

* These plans are not separately listed in our multiemployer table as they represent an insignificant portion of our total multiemployer pension plan contributions.

Multiemployer Defined Contribution Plans

In addition to contributions noted above, we also make contributions to multiemployer defined contribution plans. During 2023, 2022, and 2021, our contributions to the defined contribution plans were $59.2 million, $54.7 million, and $21.2 million, respectively.

Other Multiemployer Benefit Plans

We also contribute to several multiemployer postretirement health and welfare plans based on obligations arising under collective bargaining agreements covering union-represented employees. These plans may provide medical, pharmacy, dental, vision, mental health, and other benefits to employees as determined by the trustees of each plan. The majority of our contributions benefit active employees and, as such, may not constitute contributions to a postretirement benefit plan. However, since we are unable to separate contribution amounts to postretirement benefit plans from contribution amounts paid to benefit active employees, we categorize all such amounts as contributions to postretirement benefit plans. During 2023, 2022, and 2021, our contributions to such plans were $441.8 million, $426.6 million, and $270.8 million, respectively. There have been no significant changes that affect the comparability of total contributions for any of the periods presented,except for the additions associated with the Able acquisition in 2022.

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
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-Name Accounting Standards Codification
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+ Details

NET INCOME PER COMMON SHARE - Schedule of Basic and Diluted Net Income Per Common Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Oct. 31, 2023	Oct. 31, 2022	Oct. 31, 2021
Schedule of Earnings Per Share, Basic and Diluted, by Common Class [Line Items]
Net income	$ 251.3	$ 230.4	$ 126.3
Weighted-average common and common equivalent shares outstanding—Basic (in shares)	66.0	67.1	67.4
Effect of dilutive securities
Weighted-average common and common equivalent shares outstanding—Diluted (in shares)	66.3	67.5	68.0
Net income per common share
Basic (in USD per share)	$ 3.81	$ 3.44	$ 1.87
Diluted (in USD per share)	$ 3.79	$ 3.41	$ 1.86
RSUs
Effect of dilutive securities
Effect of dilutive securities (in shares)	0.2	0.2	0.3
Performance shares
Effect of dilutive securities
Effect of dilutive securities (in shares)	0.2	0.2	0.2

DEBT (Tables)

12 Months Ended

Oct. 31, 2023

Debt Disclosure [Abstract]

Schedule of Components of Debt

Components of Debt


	As of October 31,
(in millions)	2023		2022
Current portion of long-term debt
Gross term loan	$	32.5	$	32.5
Unamortized deferred financing costs	(1.0)		(1.0)
Current portion of term loan	$	31.5	$	31.5
Receivables facility	—		150.0
Current portion of debt	$	31.5	$	181.5

Long-term debt
Gross term loan	$	536.3	$	568.8
Unamortized deferred financing costs	(1.5)		(2.4)
Total noncurrent portion of term loan	534.8		566.3
Revolving line of credit(1)(2)	745.0		520.0
Long-term debt	$	1,279.8	$	1,086.3

(1) Standby letters of credit amounted to $58.2 million at October 31, 2023.

(2) At October 31, 2023, we had borrowing capacity of $483.0 million.

Schedule of Long-Term Loan Maturities

As of October 31, 2023, the following principal payments are required under the term loan.


(in millions)	2024		2025		2026		2027		2028
Debt maturities	$	32.5	$	32.5	$	1,248.8	$	—	$	—

Schedule of Interest Rate Swap

Notional Amount

Fixed Interest Rate

Effective Date

Maturity Date

$ 100.0 million

1.72%

February 9, 2022

June 28, 2026

$ 150.0 million

1.85%

February 25, 2022

June 28, 2026

$ 100.0 million

2.88%

May 4, 2022

June 28, 2026

$ 218.8 million(1)

2.83%

July 7, 2022

June 28, 2026

$ 81.3 million(1)

2.79%

July 18, 2022

June 28, 2026

$ 170.0 million

3.81%

November 1, 2022

June 28, 2026

- 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.

+ References

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+ Details

GOODWILL AND OTHER INTANGIBLE ASSETS - Schedule of Goodwill (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Jan. 31, 2022	Oct. 31, 2023	Oct. 31, 2022
Goodwill [Roll Forward]
Beginning balance	$ 2,228.9	$ 2,485.6	$ 2,228.9
Acquisitions		1.1	269.2
Foreign currency translation		4.7	(12.6)
Reallocation			0.0
Ending balance		2,491.3	2,485.6
Business & Industry
Goodwill [Roll Forward]
Beginning balance	1,129.8	1,087.8	1,129.8
Acquisitions		1.3	61.7
Foreign currency translation		3.6	(8.7)
Reallocation			(95.0)
Ending balance		1,092.9	1,087.8
Business & Industry \| Reorganization of Business Segments, From B&I Segment
Goodwill [Roll Forward]
Reallocation	(95.0)
Manufacturing & Distribution
Goodwill [Roll Forward]
Beginning balance	407.2	502.2	407.2
Acquisitions		0.0	0.0
Foreign currency translation		0.0	0.0
Reallocation			95.0
Ending balance	502.2	502.2	502.2
Manufacturing & Distribution \| Reorganization of Business Segments, From B&I Segment
Goodwill [Roll Forward]
Reallocation	95.0
Education
Goodwill [Roll Forward]
Beginning balance	459.3	459.3	459.3
Acquisitions		0.0	0.0
Foreign currency translation		0.0	0.0
Reallocation			0.0
Ending balance		459.3	459.3
Aviation
Goodwill [Roll Forward]
Beginning balance	69.9	68.7	69.9
Acquisitions		0.0	0.0
Foreign currency translation		0.3	(1.1)
Reallocation			0.0
Ending balance		69.0	68.7
Technical Solutions
Goodwill [Roll Forward]
Beginning balance	$ 162.7	367.4	162.7
Acquisitions		(0.1)	207.5
Foreign currency translation		0.8	(2.7)
Reallocation			0.0
Ending balance		$ 368.0	$ 367.4

INSURANCE - Schedule of Insurance Related Balances and Activity (Details) - USD ($) $ in Millions	Oct. 31, 2023	Oct. 31, 2022
Liability for Claims and Claims Adjustment Expense [Line Items]
Insurance recoverables	$ 67.1	$ 71.0
Insurance claim reserves, excluding medical and dental
Liability for Claims and Claims Adjustment Expense [Line Items]
Insurance claims reserves	555.0	551.0
Medical and dental claim reserves and other
Liability for Claims and Claims Adjustment Expense [Line Items]
Insurance claims reserves	$ 9.5	$ 8.1

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)

12 Months Ended

Oct. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

Goodwill


(in millions)	Business & Industry		Manufacturing & Distribution		Education		Aviation		Technical Solutions		Total
Balance at October 31, 2021	$	1,129.8	$	407.2	$	459.3	$	69.9	$	162.7	2,228.9
Acquisitions	61.7		—		—		—		207.5		269.2
Foreign currency translation	(8.7)		—		—		(1.1)		(2.7)		(12.6)
Reallocation (1)	(95.0)		95.0		—		—		—		—
Balance at October 31, 2022	$	1,087.8	$	502.2	$	459.3	$	68.7	$	367.4	$	2,485.6
Acquisitions (2)	1.3		—		—		—		(0.1)		1.1
Foreign currency translation	3.6		—		—		0.3		0.8		4.7
Balance at October 31, 2023	$	1,092.9	$	502.2	$	459.3	$	69.0	$	368.0	$	2,491.3

(2) During 2023, represents final acquisition accounting adjustments to goodwill from RavenVolt and Momentum acquisitions. See Note 3, “Acquisitions and Dispositions,” for additional information.

Schedule of Other Intangible Assets

Other Intangible Assets


	As of October 31,
	2023						2022
(in millions)	Gross Carrying Amount		Accumulated Amortization		Total		Gross Carrying Amount		Accumulated Amortization		Total
Customer contracts and relationships	$	714.1	$	(413.2)	$	300.9	$	801.6	$	(442.1)	$	359.6
Trademarks and trade names	12.1		(11.1)		1.0		21.4		(15.4)		6.1
Contract rights and other	15.0		(14.0)		1.1		15.3		(2.4)		12.9
Total(1)	$	741.2	$	(438.3)	$	302.9	$	838.4	$	(459.8)	$	378.5

(1) These intangible assets are being amortized over the expected period of benefit, with a weighted average life of approximately 11 years.

Schedule of Estimated Annual Amortization Expense

Estimated Annual Amortization Expense for Each of the Next Five Years


(in millions)	2024		2025		2026		2027		2028
Estimated amortization expense(1)	$	54.4	$	47.4	$	41.3	$	35.9	$	30.9

(1) These amounts could vary as acquisitions of additional intangible assets occur in the future and as acquisition accounting is finalized for existing acquisitions.

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
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+ Details

DEBT - Schedule of Components of Debt (Details) - USD ($) $ in Millions	Oct. 31, 2023	Oct. 31, 2022	Mar. 01, 2022
Current portion of long-term debt
Gross term loan	$ 32.5	$ 32.5
Unamortized deferred financing costs	(1.0)	(1.0)
Current portion of term loan	31.5	31.5
Receivables facility	0.0	150.0	$ 150.0
Current portion of debt	31.5	181.5
Long-term debt
Gross term loan	536.3	568.8
Unamortized deferred financing costs	(1.5)	(2.4)
Total noncurrent portion of term loan	534.8	566.3
Revolving line of credit	745.0	520.0
Long-term debt	1,279.8	$ 1,086.3
Standby letters of credit	58.2
Borrowing capacity	$ 483.0

EMPLOYEE BENEFIT PLANS - Narrative (Details) $ in Millions	12 Months Ended
EMPLOYEE BENEFIT PLANS - Narrative (Details) $ in Millions	Oct. 31, 2023 USD ($) plan	Oct. 31, 2022 USD ($)	Oct. 31, 2021 USD ($)
Deferred Compensation Arrangement with Individual, Postretirement Benefits [Line Items]
Expected return on assets	$ 0.2	$ 0.4	$ 0.3
Net periodic benefit cost	0.6	0.1	0.3
Expected future benefit payments	$ 11.0
Number of defined contribution plans \| plan	2
Cost recognized	$ 29.8	27.7	21.6
Defined Contribution Plans
Deferred Compensation Arrangement with Individual, Postretirement Benefits [Line Items]
Cost recognized	59.2	54.7	21.2
Multiemployer Plans, Postretirement Benefit Plans
Deferred Compensation Arrangement with Individual, Postretirement Benefits [Line Items]
Contributions by ABM	441.8	426.6	270.8
Rabbi Trust
Deferred Compensation Arrangement with Individual, Postretirement Benefits [Line Items]
Fair value deferred compensation plan assets	4.0	4.1
Deferred Compensation Plans
Deferred Compensation Arrangement with Individual, Postretirement Benefits [Line Items]
Total liability of deferred compensation	27.0	27.5
Compensation expense	$ 0.5	$ 0.3	$ 0.2

LEASES - Schedule of Lease, Cost (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2023	Oct. 31, 2022
Finance lease costs:
Operating expenses	$ 2.4	$ 1.7
Interest expense	0.5	0.4
Total lease costs	99.0	88.1
Short-term lease costs	53.5	43.3
Variable lease costs	6.4	6.0
Total short-term and variable lease costs	59.9	49.3
Operating Expenses
Operating lease costs:
Operating lease, cost	70.6	60.2
Selling, General and Administrative Expenses
Operating lease costs:
Operating lease, cost	$ 25.4	$ 25.7

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

12 Months Ended

Oct. 31, 2023

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


		As of October 31,
(in millions)	Fair Value Hierarchy	2023		2022
Cash and cash equivalents(1)	1	$	69.5	$	73.0
Insurance deposits(2)	1	3.1		0.9
Assets held in funded deferred compensation plan(3)	1	4.0		4.1
Debt facilities (4)	2	1,313.8		1,271.3
Interest rate swap assets(5)	2	36.4		36.9

Preferred equity investments(6)	3	15.4		3.0
Contingent consideration(7)	3	13.4		59.0

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

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2023	Oct. 31, 2022	Oct. 31, 2021
Basis of Presentation [Line Items]
Investments in unconsolidated affiliates	$ 28.8	$ 14.5
Revenues	8,096.4	7,806.6	$ 6,228.6
Advertising expense	8.8	6.0	6.2
Employee retention credit	24.0
Management Reimbursement Revenue
Basis of Presentation [Line Items]
Revenues	$ 302.3	$ 280.6	$ 240.3
Service Maintenance
Basis of Presentation [Line Items]
Service maintenance agreement term	1 year
Minimum
Basis of Presentation [Line Items]
Lease term	1 year
Maximum
Basis of Presentation [Line Items]
Lease term	30 years
Entities that provide specialized services \| Maximum
Basis of Presentation [Line Items]
Non-controlling ownership interests	20.00%
Certain affiliated entities \| Minimum
Basis of Presentation [Line Items]
Non-controlling ownership interests	20.00%
Certain affiliated entities \| Maximum
Basis of Presentation [Line Items]
Non-controlling ownership interests	50.00%