REV (REVG) 10-Q 4 Mar 20 2020 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Jan. 31, 2020	Mar. 03, 2020
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jan. 31, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
Trading Symbol	REVG
Title of 12(b) Security	Common Stock ($0.001 Par Value
Security Exchange Name	NYSE
Entity Registrant Name	REV Group, Inc.
Entity Central Index Key	0001687221
Current Fiscal Year End Date	--10-31
Entity Filer Category	Accelerated Filer
Entity File Number	001-37999
Entity Incorporation, State or Country Name	DE
Entity Tax Identification Number	26-3013415
Entity Address, Address Line One	111 East Kilbourn Avenue
Entity Address, Address Line Two	Suite 2600
Entity Address, City or Town	Milwaukee
Entity Address, State or Province	WI
Entity Address, Postal Zip Code	53202
City Area Code	414
Local Phone Number	290-0190
Entity Interactive Data Current	Yes
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		63,258,385
Document Transition Report	false
Document Quarterly Report	true

Condensed Unaudited Consolidate

Condensed Unaudited Consolidated Balance Sheets - USD ($) $ in Millions	Jan. 31, 2020	Oct. 31, 2019
Current assets:
Cash and cash equivalents	$ 67.3	$ 3.3
Accounts receivable, net	230.5	253.5
Inventories, net	532.7	513.4
Other current assets	22.9	19.4
Assets held for sale		19.5
Total current assets	853.4	809.1
Property, plant and equipment, net	198.5	201.7
Goodwill	159.8	159.8
Intangible assets, net	155.9	159.9
Right of use assets	21.9
Other long-term assets	16.5	16.6
Total assets	1,406	1,347.1
Current liabilities:
Current portion of long-term debt	3.4	3.6
Accounts payable	187.4	200.8
Customer advances	139.3	129.9
Accrued warranty	15.6	16.1
Short-term lease obligations	7.2
Liabilities held for sale		15.4
Other current liabilities	55	70.2
Total current liabilities	407.9	436
Long-term debt, less current maturities	458.3	376.6
Deferred income taxes	17.2	15.4
Long-term lease obligations	14.7
Other long-term liabilities	12	13.9
Total liabilities	910.1	841.9
Commitments and contingencies
Shareholders' Equity:
Common stock ($.001 par value, 605,000,000 shares authorized; 62,680,472 and 62,217,486 shares issued and outstanding, respectively)	0.1	0.1
Additional paid-in capital	494.2	490.8
Retained earnings	3.3	15.8
Accumulated other comprehensive loss	(1.7)	(1.7)
Total REV's shareholders' equity	495.9	505
Non-controlling interest		0.2
Total shareholders' equity	495.9	505.2
Total liabilities and shareholders' equity	$ 1,406	$ 1,347.1

Condensed Unaudited Consolida_2

Condensed Unaudited Consolidated Balance Sheets (Parenthetical) - $ / shares	Jan. 31, 2019	Oct. 31, 2018
Statement Of Financial Position [Abstract]
Common stock, par value	$ 0.001	$ 0.001
Common stock, authorized shares	605,000,000	605,000,000
Common stock, shares issued	62,680,472	62,217,486
Common stock, shares outstanding	62,680,472	62,217,486

Condensed Unaudited Consolida_3

Condensed Unaudited Consolidated Statements of Operations and Comprehensive Loss - USD ($) $ in Millions	3 Months Ended
	Jan. 31, 2020	Jan. 31, 2019
Income Statement [Abstract]
Net sales	$ 532.1	$ 518.7
Cost of sales	484.7	472.4
Gross profit	47.4	46.3
Operating expenses:
Selling, general and administrative	46.3	47.8
Research and development costs	1.2	1.3
Amortization of intangible assets	4	4.6
Restructuring	0.6	1.1
Impairment charges		2.7
Total operating expenses	52.1	57.5
Operating loss	(4.7)	(11.2)
Interest expense, net	7.3	7.8
Loss before benefit for income taxes	(12)	(19)
Benefit for income taxes	(2.6)	(4.4)
Net loss	(9.4)	(14.6)
Comprehensive loss	$ (9.4)	$ (14.6)
Loss per common share:
Basic	$ (0.15)	$ (0.23)
Diluted	(0.15)	(0.23)
Dividends declared per common share	$ 0.05	$ 0.05

Condensed Unaudited Consolida_4

Condensed Unaudited Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Jan. 31, 2020	Jan. 31, 2019
Cash flows from operating activities:
Net loss	$ (9.4)	$ (14.6)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	10.8	12.4
Amortization of debt issuance costs	0.5	0.4
Stock-based compensation expense	2.6	1.4
Deferred income taxes	1.8	2.9
Gain on sale of assets	(0.5)	(0.3)
Impairment charges		2.7
Changes in operating assets and liabilities, net	(19.1)	(44.3)
Net cash used in operating activities	(13.3)	(39.4)
Cash flows from investing activities:
Purchase of property, plant and equipment	(3.2)	(6.3)
Purchase of rental and used vehicles	(2.7)	(3)
Proceeds from sale of assets	3.5	2.1
Proceeds from sale of business, net	1.1
Net cash used in investing activities	(1.3)	(7.2)
Cash flows from financing activities:
Net proceeds from borrowings under April 2017 ABL Facility	82	51.2
Payment of dividends	(3.1)	(3.1)
Other financing activities	(0.3)	0.1
Net cash provided by financing activities	78.6	48.2
Net increase in cash and cash equivalents	64	1.6
Cash and cash equivalents, beginning of period	3.3	11.9
Cash and cash equivalents, end of period	67.3	13.5
Cash paid (received) for:
Interest	$ 7.5	7.4
Income taxes, net of refunds		$ (8.4)

Condensed Unaudited Consolida_5

Condensed Unaudited Consolidated Statement of Shareholders' Equity - USD ($) $ in Millions	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Non-controlling Interest [Member]	Accumulated Other Comprehensive (Loss) [Member]
Balance at Oct. 31, 2018	$ 531.4	$ 0.1	$ 492.1	$ 40.6		$ (1.4)
Balance, shares at Oct. 31, 2018		62,683,808
Net loss	(14.6)			(14.6)
Stock-based compensation expense	1.4		1.4
Exercise of common stock options	0.1		0.1
Exercise of common stock options, shares		20,000
Vesting of restricted and performance stock, net of employee tax withholdings, shares		94,237
Dividends declared on common stock	(3.2)			(3.2)
Balance at Jan. 31, 2019	515.1	$ 0.1	493.6	22.8		(1.4)
Balance, shares at Jan. 31, 2019		62,798,045
Balance at Oct. 31, 2019	505.2	$ 0.1	490.8	15.8	$ 0.2	(1.7)
Balance, shares at Oct. 31, 2019		62,217,486
Net loss	(9.4)			(9.4)
Sale of business	(0.2)				$ (0.2)
Stock-based compensation expense	2.6		2.6
Exercise of common stock options	0.8		0.8
Exercise of common stock options, shares		102,000
Vesting of restricted and performance stock, net of employee tax withholdings, shares		360,986
Dividends declared on common stock	(3.1)			(3.1)
Balance at Jan. 31, 2020	$ 495.9	$ 0.1	$ 494.2	$ 3.3		$ (1.7)
Balance, shares at Jan. 31, 2020		62,680,472

Basis of Presentation

Basis of Presentation	3 Months Ended
	Jan. 31, 2020
Accounting Policies [Abstract]
Basis of Presentation	Note 1. Basis of Presentation The unaudited Condensed Consolidated Financial Statements include the accounts of REV Group, Inc. (“REV” or “the Company”) and all its subsidiaries. In the opinion of management, the accompanying unaudited Condensed Consolidated Financial Statements contain all adjustments (which include normal recurring adjustments, unless otherwise noted) necessary to present fairly the financial position, results of operations and cash flows for the periods presented. Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles in the United States (U.S. GAAP) have been condensed or omitted pursuant to the rules and regulations of the U.S. Securities and Exchange Commission. These unaudited Condensed Consolidated Financial Statements should be read in conjunction with the audited financial statements and notes thereto included in the Annual Report on Form 10-K of the Company for the year ended October 31, 2019. The interim results are not necessarily indicative of results for the full year. Certain reclassifications have been made to the fiscal year 2019 financial statements to conform to the fiscal year 2020 presentation. Equity Sponsor Related Party Transactions Certain production facilities and offices for two of the Company’s subsidiaries are leased from certain members of management. Rent expense under these arrangements totaled $0.5 million and $0.5 million for the three months ended January 31, 2020, and January 31, 2019, respectively. Recent Accounting Pronouncements Accounting Pronouncements Recently Adopted • In February 2016, the Financial Accounting Standards Board (“FASB”) issued ASU 2016-02, “Leases” (Accounting Standards Codification (ASC) 842). ASC 842 is intended to increase transparency and comparability among organizations by recognizing lease liabilities with corresponding right-of-use (“ROU”) assets on the balance sheet and disclosing key information about leasing arrangements. The Company adopted the new standard on November 1, 2019, following the optional transition method provided by ASU No. 2018-11. Accordingly, prior period comparative information was not recast to reflect the impact of the new guidance and therefore continues to be reported under the accounting guidance in effect during those periods (ASC 840). The most significant impact of the Company’s adoption of ASC 842 is the recognition of ROU assets and lease liabilities on the balance sheet for operating leases. The adoption did not have any impact on the Company’s results of operations or cash flows. ASC 842 provides a number of optional transition related practical expedients. The Company elected to adopt the standard using the package of practical expedients, which allowed the Company not to reassess prior conclusions about the identification of leases, the classification of leases, and the treatment of initial direct costs. ASC 842 also provides a number of optional practical expedients for an entity’s ongoing lessee accounting. In connection with our evaluation of these practical expedients, the Company has elected not to separate payments for lease components from payments for non-lease components for all classes of leases. Additionally, the Company has elected the short-term lease recognition exemption for all leases that qualify, which means ROU assets and lease liabilities will not be recognized for leases with an initial term of twelve months or less. Subsequent Events On February 1, 2020, the Company acquired Spartan Emergency Response (“Spartan ER”), a leading designer, manufacturer and distributor of custom emergency response vehicles, cabs and chassis for the emergency response market, and its brands, from Spartan Motors, Inc. (NASDAQ: SPAR). The Company acquired certain assets of Spartan ER for approximately $55 million in cash, subject to a customary capital adjustment.

Revenue Recognition

Revenue Recognition	3 Months Ended
	Jan. 31, 2020
Revenue From Contract With Customer [Abstract]
Revenue Recognition	Note 2. Revenue Recognition Substantially all of the Company’s revenue is recognized from contracts with customers with product shipment destinations in the United States and Canada. The Company accounts for a contract when it has approval and commitment from both parties, the rights and payment terms of the parties are identified, the contract has commercial substance and collectability of consideration is probable. The Company determines the transaction price for each contract at inception based on the consideration that it expects to receive for the goods and services promised under the contract. The transaction price excludes sales and usage-based taxes collected. The Company’s primary source of revenue is generated from the manufacture and sale of specialty vehicles through its direct sales force or dealer network. The Company also generates revenue through separate contracts that relate to the sale of aftermarket parts and services. Revenue is typically recognized at a point-in-time, when control is transferred, which generally occurs when the product has been shipped to the customer or when it has been picked-up from the Company’s manufacturing facilities. Shipping and handling costs that occur after the transfer of control are fulfillment costs that are accrued when control is transferred. Periodically, certain customers request bill and hold transactions. In such cases, revenue is not recognized until after control has transferred which is generally when the customer has requested such transaction and has been notified that the product (i) has been completed according to customer specifications, (ii) has passed our quality control inspections, and (iii) has been separated from our inventory and is ready for physical transfer to the customer. Warranty obligations associated with the sale of a unit are assurance-type warranties that are a guarantee of the unit’s intended functionality and, therefore, do not represent a distinct performance obligation within the context of the contract. Contract Assets and Contract Liabilities The Company is generally entitled to bill its customers upon satisfaction of its performance obligations, and payment is usually received shortly after billing. Payments for certain contracts are received in advance of satisfying the related performance obligations. Such payments are recorded as customer advances in the Company’s Condensed Unaudited Consolidated Balance Sheets. The corresponding performance obligations are generally satisfied within one year of the contract inception. During the three months ended January 31, 2020 and January 31, 2019, the Company recognized $54.4 million and $43.7 million, respectively, of revenue that was included in the customer advance balances as of October 31, 2019 and October 31, 2018, respectively. The Company’s payment terms do not include a significant financing component and the Company does not have significant contract assets.

Leases

Leases	3 Months Ended
	Jan. 31, 2020
Leases [Abstract]
Leases	Note 3. Leases The Company leases certain administrative and production facilities and equipment under long-term, non-cancelable operating lease agreements. The Company determines if an arrangement is or contains a lease at contract inception and recognizes a ROU asset and a lease liability based on the present value of fixed, and certain index-based lease payments at the lease commencement date. Variable payments are excluded from the present value of lease payments and are recognized in the period in which the payment is made. Lease agreements may include options to extend or terminate the lease or purchase the underlying asset. In situations where the Company is reasonably certain to exercise such options, they are considered in determining the lease term and the associated option payments, or exercise price in the case of an option to purchase, are included in the measurement of the lease liabilities and ROU assets. The Company’s leases generally do not include restrictive financial or other covenants, or residual value guarantees. The Company generally uses its incremental borrowing rate as the discount rate for measuring its lease liabilities, as the Company cannot determine the interest rate implicit in the lease because it does not have access to certain lessor specific information. Lease expense is recognized on a straight-line basis over the lease term. The Company does not have significant finance leases. During the three months ended January 31, 2020, the Company recognized total operating lease costs of approximately $2.3 million and paid cash of $2.2 million for amounts included in the measurement of lease liabilities. At January 31, 2020, future minimum operating lease payments due under ASC 842 are summarized by year in the table below: Remaining nine months of fiscal year 2020 $ 6.2 2021 7.4 2022 5.7 2023 3.0 2024 1.4 Thereafter 0.1 Total undiscounted lease payments 23.8 Less: imputed interest (1.9 ) Total lease liabilities $ 21.9 As of January 31, 2020, the weighted average remaining lease term and the weighted average discount rate for operating leases was 3.3 years and 5.1%, respectively. As of October 31, 2019, future minimum operating lease payments (under ASC 840) were as follows: 2020 $ 8.5 2021 7.5 2022 5.8 2023 3.3 2024 1.5 Thereafter 0.1

Inventories

Inventories	3 Months Ended
	Jan. 31, 2020
Inventory Disclosure [Abstract]
Inventories	Note 4. Inventories Inventories, net of reserves, consisted of the following: January 31, 2020 October 31, 2019 Chassis $ 60.4 $ 44.9 Raw materials 195.2 198.1 Work in process 212.3 200.8 Finished products 74.7 79.6 542.6 523.4 Less: reserves (9.9 ) (10.0 ) Total inventories, net $ 532.7 $ 513.4

Property, Plant and Equipment

Property, Plant and Equipment	3 Months Ended
	Jan. 31, 2020
Property Plant And Equipment [Abstract]
Property, Plant and Equipment	Note 5. Property, Plant and Equipment Property, plant and equipment consisted of the following: January 31, 2020 October 31, 2019 Land & land improvements $ 24.3 $ 24.2 Buildings & improvements 107.8 107.6 Machinery & equipment 94.3 93.1 Rental & used vehicles 22.5 24.4 Computer hardware & software 62.3 58.1 Office furniture & fixtures 5.7 5.8 Construction in process 9.0 11.4 325.9 324.6 Less: accumulated depreciation (127.4 ) (122.9 ) Total property, plant and equipment, net $ 198.5 $ 201.7 Depreciation expense was $6.8 million and $7.8 million for the three months ended January 31, 2020, and January 31, 2019, respectively.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	3 Months Ended
	Jan. 31, 2020
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Note 6. Goodwill and Intangible Assets The table below represents goodwill by segment: January 31, 2020 October 31, 2019 Fire & Emergency $ 88.6 $ 88.6 Commercial 28.7 28.7 Recreation 42.5 42.5 Total goodwill $ 159.8 $ 159.8 The change in the net carrying value amount of goodwill consisted of the following: Three Months Ended January 31, 2020 2019 Balance at beginning of period $ 159.8 $ 161.8 Activity during the period: Acquisitions — (2.0 ) Balance at end of period $ 159.8 $ 159.8 Intangible assets (excluding goodwill) consisted of the following: January 31, 2020 Weighted- Average Life Gross Accumulated Amortization Net Finite-lived intangible assets: Customer relationships 8.0 $ 111.6 $ (72.9 ) $ 38.7 Order backlog 1.0 5.2 (5.2 ) — Non-compete agreements 5.0 2.1 (1.4 ) 0.7 Trade names 7.0 3.5 (2.9 ) 0.6 Technology-related 7.0 0.9 (0.9 ) — 123.3 (83.3 ) 40.0 Indefinite-lived trade names 115.9 — 115.9 Total intangible assets, net $ 239.2 $ (83.3 ) $ 155.9 October 31, 2019 Weighted- Average Life Gross Accumulated Amortization Net Finite-lived intangible assets: Customer relationships 8.0 $ 126.7 $ (84.0 ) $ 42.7 Order backlog 1.0 6.7 (6.7 ) — Non-compete agreements 5.0 2.0 (1.3 ) 0.7 Trade names 7.0 3.5 (3.0 ) 0.5 Technology-related 7.0 0.9 (0.8 ) 0.1 139.8 (95.8 ) 44.0 Indefinite-lived trade names 115.9 — 115.9 Total intangible assets, net $ 255.7 $ (95.8 ) $ 159.9 Amortization expense was $4.0 million and $4.6 million for the three months ended January 31, 2020, and January 31, 2019, respectively. As of January 31, 2020, we wrote off fully amortized intangible assets and the related accumulated amortization.

Divestiture Activities

Divestiture Activities	3 Months Ended
	Jan. 31, 2020
Discontinued Operations And Disposal Groups [Abstract]
Divestiture Activities	Note 7. Divestiture Activities In fiscal year 2018, management decided to divest certain businesses and assets which include the Revability business, one Regional Technical Center (“RTC”), a portion of the Company’s rental fleet, and certain other assets. In the first quarter of fiscal year 2019, the Company completed the sale of its mobility van business, Revability, with annual sales of approximately $40 million. All assets and operations at the Clarkston and Davisburg, Michigan facilities were transferred to the buyer. In the second quarter of fiscal year 2019, the Company completed the sale of the RTC for net cash proceeds of $11.4 million. In connection with this sale, the Company recognized a gain on sale of $1.2 million. As of October 31, 2019, assets and liabilities held for sale consisted of the following: property, plant and equipment, net—$0.2 million, inventories, net—$14.0 million, accounts receivable, net—$0.4 million, other current and long-term assets—$4.9 million, accounts payable—$11.7 million and other current and long-term liabilities—$3.7 million. In the first quarter of fiscal year 2020, the Company completed the sale of REV Coach. The Company received cash proceeds of $1.1 million in the first quarter of fiscal year 2020, and the remaining $1.0 million is expected to be received in the second quarter of fiscal year 2020. Buyer will also purchase spare parts related to the REV Coach business during the second quarter of fiscal year 2020. There were no assets and liabilities held for sale on the Company’s Condensed Unaudited Consolidated Balance Sheets as of January 31, 2020.

Long-Term Debt

Long-Term Debt	3 Months Ended
	Jan. 31, 2020
Debt Disclosure [Abstract]
Long-Term Debt	Note 8. Long-Term Debt The Company was obligated under the following debt instruments: January 31, 2020 October 31, 2019 April 2017 ABL facility $ 292.0 $ 210.0 Term Loan, net of debt issuance costs ($2.4 and $2.2) 169.7 170.2 461.7 380.2 Less: current maturities (3.4 ) (3.6 ) Long-term debt, less current maturities $ 458.3 $ 376.6 April 2017 ABL Facility Effective April 25, 2017, the Company entered into a $350.0 million revolving credit and guaranty agreement (the “April 2017 ABL Facility” or “ABL Agreement”) with a syndicate of lenders. The April 2017 ABL Facility consists of: (i) Revolving Loans, (ii) Swing Line Loans, and (iii) Letters of Credit, aggregating up to a combined maximum of $350.0 million. The total amount borrowed under the April 2017 ABL Facility is subject to a $30.0 million sublimit for Swing Line loans and a $35.0 million sublimit for Letters of Credit, along with certain borrowing base and other customary restrictions as defined in the ABL Agreement. The Company incurred $4.9 million of debt issuance costs related to the April 2017 ABL Facility. The amount of debt issuance costs is included in other long-term assets in the Company’s Condensed Unaudited Consolidated Balance Sheets. The April 2017 ABL Facility allows for incremental borrowing capacity in an aggregate amount of up to $100.0 million, plus the excess, if any, of the borrowing base then in effect over total commitments then in effect. Any such incremental borrowing capacity is subject to receiving additional commitments from lenders and certain other customary conditions. The April 2017 ABL Facility matures on April 25, 2022. The Company may prepay principal, in whole or in part, at any time without penalty. The following amendments have been made to the April 2017 ABL Facility: • On December 22, 2017, the Company exercised a $100.0 million incremental borrowing capacity option under the April 2017 ABL Facility to fund the Lance Camper acquisition, which increased total borrowing capacity under the facility from $350.0 million to $450.0 million. The Company incurred an additional $0.4 million of debt issuance costs related to the incremental borrowing capacity option under the April 2017 ABL Facility. • On January 31, 2020, the Company increased total borrowing capacity under the facility, in anticipation of its acquisition of Spartan ER, from $450.0 million to $500.0 million. The Company incurred an additional $0.3 million of debt issuance costs related to the incremental borrowing capacity option under the April 2017 ABL Facility. The outstanding balance for the April 2017 ABL facility as of January 31, 2020 reflects the draw-down of additional debt to fund the acquisition of Spartan ER. Revolving Loans under the April 2017 ABL Facility bear interest at rates equal to, at the Company’s option, either a base rate plus an applicable margin, or a Eurodollar rate plus an applicable margin. Applicable interest rate margins are initially 0.75% for all base rate loans and 1.75% for all Eurodollar rate loans (with the Eurodollar rate having a floor of 0%), subject to adjustment based on utilization in accordance with the ABL Agreement. Interest is payable quarterly for all base rate loans and is payable monthly or quarterly for all Eurodollar rate loans. The lenders under the April 2017 ABL Facility have a first priority security interest in substantially all accounts receivable and inventory of the Company, and a second priority security interest in substantially all other assets of the Company. The April 2017 ABL Facility contains customary representations and warranties, affirmative and negative covenants, subject in certain cases to customary limitations, exceptions and exclusions. The April 2017 ABL Facility also contains certain customary events of default, which should such events occur, could result in the termination of the commitments under the April 2017 ABL Facility and the acceleration of all outstanding borrowings under it. The April 2017 ABL Facility contains a financial covenant restricting the Company from allowing its fixed charge coverage ratio to drop below 1.00 to 1.00 during a compliance period, which is triggered when the availability under the April 2017 ABL Facility falls below a threshold set forth in the credit agreement. The Company was in compliance with all financial covenants under the April 2017 ABL Facility as of January 31, 2020. As of January 31, 2020, the Company’s availability under the April 2017 ABL Facility was $196.6 million. The fair value of the April 2017 ABL Facility approximated book value at both January 31, 2020 and October 31, 2019. Term Loan Effective April 25, 2017, the Company entered into a $75.0 million term loan agreement (“Term Loan” and “Term Loan Agreement”), as Borrower with certain subsidiaries of the Company, acting as guarantors of debt. Principal may be prepaid at any time during the term of the Term Loan without penalty. The Company incurred $2.0 million of debt issuance costs related to the Term Loan. The Term Loan Agreement allows for incremental facilities in an aggregate amount of up to $125.0 million. Any such incremental facilities are subject to receiving additional commitments from lenders and certain other customary conditions. The Term Loan agreement requires quarterly payments of 0.25% of the original principal balance, with remaining principal payable at maturity, April 25, 2022. The lenders under the Term Loan have a second priority security interest in substantially all accounts receivable and inventory of the Company. The following amendments have been made to the Term Loan: • On July 18, 2018, the Company exercised a $50.0 million incremental commitment option under the Term Loan Agreement, which increased total borrowing under the facility from $75.0 million to $125.0 million. The Company incurred an additional $0.6 million of debt issuance costs related to the incremental commitment option under the Term Loan. Proceeds from the incremental commitment were used to repay a portion of the outstanding borrowings under the April 2017 ABL Facility. • On March 29, 2019, the Company exercised a $50.0 million incremental commitment option under the Term Loan Agreement, which increased total borrowing under the facility from $125.0 million to $175.0 million. The Company incurred an additional $0.8 million of debt issuance costs related to the incremental commitment option under the Term Loan, which were deducted from proceeds received by the Company. Proceeds from the incremental commitment were used to repay a portion of the outstanding borrowings under the April 2017 ABL Facility. • On October 18, 2019, the Company amended the term loan agreement to raise the maximum leverage net ratio to 4.00 to 1.00 from 3.50 to 1.00. The ratio will decline by 25 basis points in the third quarter of each fiscal year after the amendment date, reaching a final maximum leverage ratio of 3.50 to 1.00 on July 31, 2021. Additionally, the Company received a waiver related to the excess cash flow calculation payment for fiscal year 2019. The Company incurred $0.2 million of debt issuance costs related to the amendment raising the maximum leverage ratio and the waiver for the excess cash flow calculation payment under the Term Loan Agreement. • On January 31, 2020, the Company amended the term loan agreement, in contemplation of its pending acquisition of Spartan ER, to raise the maximum net leverage ratio to 5.00 to 1.00 from 4.00 to 1.00. The ratio will decline by 25 basis points in the fourth quarter of fiscal year 2020, and each fiscal quarter ending thereafter, reaching a final maximum leverage ratio of 3.75 to 1.00 on October 31, 2021. The Company incurred $0.4 million of debt issuance costs related to this amendment. Applicable interest rate margins for the Term Loan are 2.50% for base rate loans and 3.50% for Eurodollar rate loans (with the Eurodollar rate having a floor of 1.00%). Interest is payable quarterly for all base rate loans and is payable monthly or quarterly for all Eurodollar rate loans. The weighted-average interest rate on borrowings outstanding under the Term Loan at January 31, 2020 was 5.15%. The Term Loan Agreement contains customary representations and warranties, affirmative and negative covenants, in each case, subject to customary limitations, exceptions and exclusions. The Term Loan Agreement also contains certain customary events of default. The Term Loan Agreement requires the Company to maintain a specified secured leverage ratio, which will be tested quarterly and become more restrictive over the term of the loan. The Company was in compliance with all financial covenants under the Term Loan as of January 31, 2020. The fair value of the Term Loan approximated book value at both January 31, 2020 and October 31, 2019.

Warranties

Warranties	3 Months Ended
	Jan. 31, 2020
Guarantees [Abstract]
Warranties	Note 9. Warranties The Company’s products generally carry explicit warranties that extend from several months to several years, based on terms that are generally accepted in the marketplace. Selected components (such as engines, transmissions, tires, etc.) included in the Company’s end products may include warranties from original equipment manufacturers (“OEM”). These OEM warranties are passed on to the end customer of the Company’s products, and the customer deals directly with the applicable OEM for any issues encountered on those components. Changes in the Company’s warranty liability consisted of the following: Three Months Ended January 31, 2020 2019 Balance at beginning of period $ 22.6 $ 30.8 Warranty provisions 5.6 5.4 Settlements made (7.6 ) (8.0 ) Balance at end of period $ 20.6 $ 28.2 Accrued warranty is classified in the Company’s Condensed Unaudited Consolidated Balance Sheets as follows: January 31, 2020 October 31, 2019 Current liabilities $ 15.6 $ 16.1 Other long-term liabilities 5.0 6.5 Total warranty liability $ 20.6 $ 22.6

Stock Repurchase Program

Stock Repurchase Program	3 Months Ended
	Jan. 31, 2020
Equity [Abstract]
Stock Repurchase Program	Note 10. Stock Repurchase Program On March 20, 2018 the Company’s Board of Directors authorized up to $50.0 million of repurchases of the Company’s issued and outstanding common stock with an expiration date of March 19, 2020. On September 5, 2018 the Company’s Board of Directors authorized an additional $50.0 million of repurchases of the Company’s issued and outstanding common stock with an expiration date of September 4, 2020. The Company’s share repurchase program is executed from time to time through open market or through private transactions. Shares purchased under the share repurchase program are retired and returned to authorized and unissued status. During fiscal year 2018, the Company repurchased 3,233,352 shares under this repurchase program at a total cost of $53.3 million at an average price per share of $16.47. During fiscal year 2019, the Company repurchased 717,597 shares under this repurchase program at a total cost of $8.3 million at an average price per share of $11.62. There were no repurchases under this program during the three months ended January 31, 2020 and January 31, 2019, respectively. As of January 31, 2020, the Company had $38.3 million of authorization remaining under this program.

Earnings Per Common Share

Earnings Per Common Share	3 Months Ended
	Jan. 31, 2020
Earnings Per Share [Abstract]
Earnings Per Common Share	Note 11. Earnings Per Common Share Basic earnings per common share (“EPS”) is computed by dividing net (loss) income by the weighted average number of common shares outstanding. Diluted EPS is computed by dividing net (loss) income by the weighted-average number of common shares outstanding assuming dilution. The difference between basic EPS and diluted EPS is the result of the dilutive effect of outstanding stock options, performance stock units and restricted stock units. The table below reconciles basic weighted-average common shares outstanding to diluted weighted-average shares outstanding for the three months ended January 31, 2020 and January 31, 2019: Three Months Ended January 31, 2020 2019 Basic weighted-average common shares outstanding 62,783,080 63,023,076 Dilutive stock options — — Dilutive restricted stock units — — Dilutive performance stock units — — Diluted weighted-average common shares outstanding 62,783,080 63,023,076 The table below represents exclusions from the calculation of weighted-average shares outstanding assuming dilution due to the anti-dilutive effect of the common stock equivalents for the three months ended January 31, 2020 and January 31, 2019: Three Months Ended January 31, 2020 2019 Anti-dilutive stock options 779,600 988,551 Anti-dilutive restricted stock units 2,447,696 1,590,393 Anti-dilutive performance stock units — 91,509 Anti-dilutive common stock equivalents 3,227,296 2,670,453

Income Taxes

Income Taxes	3 Months Ended
	Jan. 31, 2020
Income Tax Disclosure [Abstract]
Income Taxes	Note 12. Income Taxes For interim financial reporting, the Company estimates its annual effective tax rate based on the projected income for its entire fiscal year and records a provision (benefit) for income taxes on a quarterly basis based on the estimated annual effective income tax rate, adjusted for any discrete tax items. The Company recorded income tax benefit of $2.6 million for the three months ended January 31, 2020, or 22.0% of pre-tax loss, compared to $4.4 million, or 23.3% of pre-tax loss, for the three months ended January 31, 2019. Results for the three months ended January 31, 2020 were unfavorably impacted by $0.2 million of net discrete tax expenses primarily related to stock-based compensation tax deductions. Results for the three months ended January 31, 2019 were unfavorably impacted by $0.3 million of net discrete tax expenses related to stock-based compensation tax deductions. The Company periodically evaluates its valuation allowance requirements in light of changing facts and circumstances and may adjust its deferred tax asset valuation allowances accordingly. It is reasonably possible that the Company will either add to or reverse a portion of its existing deferred tax asset valuation allowances in the future. Such changes in the deferred tax asset valuation allowances will be reflected in the current operations through the Company’s effective income tax rate. During the three months ended January 31, 2020, there were no changes to the Company’s valuation allowances. The Company’s liability for unrecognized tax benefits, including interest and penalties, was $2.7 million as of January 31, 2020 and $2.6 million as of October 31, 2019. The unrecognized tax benefits are presented in other long-term liabilities in the Company’s Condensed Unaudited Consolidated Balance Sheets for the period ended January 31, 2020. During the next twelve months, it is reasonably possible that $0.3 million of the unrecognized tax benefits, if recognized, would affect the annual effective income tax rate. The Company recognizes accrued interest and penalties related to unrecognized tax benefits in the provision for income taxes in its Condensed Unaudited Consolidated Statement of Operations. The Company regularly assesses the likelihood of an adverse outcome resulting from examinations to determine the adequacy of its tax reserves. As of January 31, 2020, the Company believes that it is more likely than not that the tax positions it has taken will be sustained upon the resolution of its audits resulting in no material impact on its consolidated financial position and the results of operations and cash flows. However, the final determination with respect to any tax audits, and any related litigation, could be materially different from the Company’s estimates and/or from its historical income tax provisions and income tax liabilities and could have a material effect on operating results and/or cash flows in the periods for which that determination is made. In addition, future period earnings may be adversely impacted by litigation costs, settlements, penalties, and/or interest assessments related to income tax examinations.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Jan. 31, 2020
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 13. Commitments and Contingencies Personal Injury Actions and Other Market Risks January 31, 2020 October 31, 2019 Performance, bid and specialty bonds $ 257.1 $ 229.9 Open standby letters of credit 11.4 14.3 Total $ 268.5 $ 244.2 Chassis Contingent Liabilities Repurchase Commitments Guarantee Arrangements In the event that third parties are unable to meet obligations under these agreements, the Company cannot guarantee that the collateral underlying the agreements will be available or sufficient to avoid losses materially in excess of the amounts reserved. Any losses under these guarantees would generally be mitigated by the value of any underlying collateral, including financed equipment, and are generally subject to the finance company’s ability to provide the Company clear title to foreclosed equipment and other conditions. During periods of economic weakness, collateral values generally decline and can contribute to higher exposure to losses. Other Matters A consolidated federal putative securities class action and a consolidated state putative securities class action are pending against the Company and certain of its officers and directors. These actions collectively purport to assert claims on behalf of putative classes of purchasers of the Company’s common stock in or traceable to its January 2017 Initial Public Offering (“IPO”), purchasers in its secondary offering of common stock in October 2017, and purchasers from October 10, 2017 through June 7, 2018. The state action also names certain of the underwriters for the Company’s IPO or secondary offering as defendants. The federal and state courts each consolidated multiple separate actions pending before them, the first of which was filed on June 8, 2018. The actions have alleged certain violations of the Securities Act of 1933 and, for the federal action, the Securities Exchange Act of 1934. Collectively, the actions seek certification of the putative classes asserted and compensatory damages and attorneys’ fees and costs. The underwriter defendants have notified the Company of their intent to seek indemnification from the Company pursuant to the IPO underwriting agreement regarding the claims asserted with respect to the IPO, and the Company expects the underwriters to do the same in regard to the claims asserted with respect to the October 2017 offering. Two purported derivative actions, which have since been consolidated, were also filed in federal court in Delaware in 2019 against the Company’s directors (with the Company as a nominal defendant), premised on allegations similar to those asserted in the consolidated federal securities litigation. The Company and the other defendants intend to defend these lawsuits vigorously. Additional lawsuits may be filed and, at this time, the Company is unable to predict the outcome of the lawsuits, the possible loss or range of loss, if any, associated with the resolution of the lawsuits, or any potential effect that it may have on the Company or its operations.

Business Segment Information

Business Segment Information	3 Months Ended
	Jan. 31, 2020
Segment Reporting [Abstract]
Business Segment Information	Note 14. Business Segment Information The Company is organized into three reportable segments based on management’s process for making operating decisions, allocating capital and measuring performance, and based on the similarity of products, customers served, common use of facilities, and economic characteristics. The Company’s segments are as follows: Fire & Emergency Commercial Recreation For purposes of measuring financial performance of its business segments, the Company does not allocate to individual business segments costs or items that are of a corporate nature. The caption “Corporate, Other & Elims” includes corporate office expenses, results of insignificant operations, intersegment eliminations and income and expense not allocated to reportable segments. Total assets of the business segments exclude general corporate assets, which principally consist of cash and cash equivalents, certain property, plant and equipment and certain other assets pertaining to corporate and other centralized activities. Intersegment sales generally include amounts invoiced by a segment for work performed for another segment. Amounts are based on actual work performed and agreed-upon pricing which is intended to be reflective of the contribution made by the supplying business segment. All intersegment transactions have been eliminated in consolidation. Selected financial information of the Company’s segments is as follows: Three Months Ended January 31, 2020 Fire & Emergency Commercial Recreation Corporate, Other & Elims Consolidated Net sales $ 206.5 $ 158.2 $ 166.8 $ 0.6 $ 532.1 Depreciation and amortization $ 3.5 $ 1.9 $ 3.5 $ 1.9 $ 10.8 Capital expenditures $ 1.7 $ 0.6 $ 0.8 $ 0.1 $ 3.2 Total assets $ 632.0 $ 272.8 $ 330.3 $ 170.9 $ 1,406.0 Adjusted EBITDA $ 1.7 $ 10.8 $ 7.0 $ (8.2 ) Three Months Ended January 31, 2019 Fire & Emergency Commercial Recreation Corporate, Other & Elims Consolidated Net sales $ 204.1 $ 140.7 $ 176.3 $ (2.4 ) $ 518.7 Depreciation and amortization $ 3.5 $ 2.6 $ 4.0 $ 2.3 $ 12.4 Capital expenditures $ 1.4 $ 0.6 $ 1.4 $ 2.9 $ 6.3 Total assets $ 614.2 $ 291.7 $ 352.7 $ 116.0 $ 1,374.6 Adjusted EBITDA $ 8.4 $ 5.0 $ 9.1 $ (10.2 ) In considering the financial performance of the business, the chief operating decision maker analyzes the primary financial performance measure of Adjusted EBITDA. Adjusted EBITDA is defined as net income for the relevant period before depreciation and amortization, interest expense and benefit for income taxes, as adjusted for items management believes are not indicative of the Company’s ongoing operating performance. Adjusted EBITDA is not a measure defined by U.S. GAAP but is computed using amounts that are determined in accordance with U.S. GAAP. A reconciliation of this performance measure to net income (loss) is included below. The Company believes Adjusted EBITDA is useful to investors and used by management for measuring profitability because the measure excludes the impact of certain items which management believes have less bearing on the Company’s core operating performance, and allows for a more meaningful comparison of operating fundamentals between companies within its industries by eliminating the impact of capital structure and taxation differences between the companies. Additionally, Adjusted EBITDA is used by management to measure and report the Company’s financial performance to the Company’s Board of Directors, assists in providing a meaningful analysis of the Company’s operating performance and is used as a measurement in incentive compensation for management. Provided below is a reconciliation of segment Adjusted EBITDA to net loss: Three Months Ended January 31, 2020 2019 Fire & Emergency Adjusted EBITDA $ 1.7 $ 8.4 Commercial Adjusted EBITDA 10.8 5.0 Recreation Adjusted EBITDA 7.0 9.1 Corporate and Other Adjusted EBITDA (8.2 ) (10.2 ) Depreciation and amortization (10.8 ) (12.2 ) Interest expense, net (7.3 ) (7.8 ) Benefit for income taxes 2.6 4.4 Transaction expenses (1.1 ) (0.2 ) Sponsor expense reimbursement (0.1 ) (0.5 ) Restructuring costs (0.6 ) (1.1 ) Stock-based compensation expense (2.6 ) (1.4 ) Legal matters (0.1 ) (2.1 ) Impairment charges — (2.7 ) Losses attributable to assets held for sale (0.6 ) (1.7 ) Deferred purchase price payment (0.1 ) (1.6 ) Net loss $ (9.4 ) $ (14.6 )

Basis of Presentation (Policies

Basis of Presentation (Policies)	3 Months Ended
	Jan. 31, 2020
Accounting Policies [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements Accounting Pronouncements Recently Adopted • In February 2016, the Financial Accounting Standards Board (“FASB”) issued ASU 2016-02, “Leases” (Accounting Standards Codification (ASC) 842). ASC 842 is intended to increase transparency and comparability among organizations by recognizing lease liabilities with corresponding right-of-use (“ROU”) assets on the balance sheet and disclosing key information about leasing arrangements. The Company adopted the new standard on November 1, 2019, following the optional transition method provided by ASU No. 2018-11. Accordingly, prior period comparative information was not recast to reflect the impact of the new guidance and therefore continues to be reported under the accounting guidance in effect during those periods (ASC 840). The most significant impact of the Company’s adoption of ASC 842 is the recognition of ROU assets and lease liabilities on the balance sheet for operating leases. The adoption did not have any impact on the Company’s results of operations or cash flows. ASC 842 provides a number of optional transition related practical expedients. The Company elected to adopt the standard using the package of practical expedients, which allowed the Company not to reassess prior conclusions about the identification of leases, the classification of leases, and the treatment of initial direct costs. ASC 842 also provides a number of optional practical expedients for an entity’s ongoing lessee accounting. In connection with our evaluation of these practical expedients, the Company has elected not to separate payments for lease components from payments for non-lease components for all classes of leases. Additionally, the Company has elected the short-term lease recognition exemption for all leases that qualify, which means ROU assets and lease liabilities will not be recognized for leases with an initial term of twelve months or less.
Subsequent Events	Subsequent Events On February 1, 2020, the Company acquired Spartan Emergency Response (“Spartan ER”), a leading designer, manufacturer and distributor of custom emergency response vehicles, cabs and chassis for the emergency response market, and its brands, from Spartan Motors, Inc. (NASDAQ: SPAR). The Company acquired certain assets of Spartan ER for approximately $55 million in cash, subject to a customary capital adjustment.

Leases (Tables)

Leases (Tables)	3 Months Ended
	Jan. 31, 2020
Leases [Abstract]
Schedule of Future Minimum Operating Lease Payments Due Under ASC 842	At January 31, 2020, future minimum operating lease payments due under ASC 842 are summarized by year in the table below: Remaining nine months of fiscal year 2020 $ 6.2 2021 7.4 2022 5.7 2023 3.0 2024 1.4 Thereafter 0.1 Total undiscounted lease payments 23.8 Less: imputed interest (1.9 ) Total lease liabilities $ 21.9
Schedule of Future Minimum Operating Lease Payments Due Under ASC 840	As of October 31, 2019, future minimum operating lease payments (under ASC 840) were as follows: 2020 $ 8.5 2021 7.5 2022 5.8 2023 3.3 2024 1.5 Thereafter 0.1

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Jan. 31, 2020
Inventory Disclosure [Abstract]
Schedule of Inventories, Net of Reserves	Inventories, net of reserves, consisted of the following: January 31, 2020 October 31, 2019 Chassis $ 60.4 $ 44.9 Raw materials 195.2 198.1 Work in process 212.3 200.8 Finished products 74.7 79.6 542.6 523.4 Less: reserves (9.9 ) (10.0 ) Total inventories, net $ 532.7 $ 513.4

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	3 Months Ended
	Jan. 31, 2020
Property Plant And Equipment [Abstract]
Summary of Property, Plant and Equipment	Property, plant and equipment consisted of the following: January 31, 2020 October 31, 2019 Land & land improvements $ 24.3 $ 24.2 Buildings & improvements 107.8 107.6 Machinery & equipment 94.3 93.1 Rental & used vehicles 22.5 24.4 Computer hardware & software 62.3 58.1 Office furniture & fixtures 5.7 5.8 Construction in process 9.0 11.4 325.9 324.6 Less: accumulated depreciation (127.4 ) (122.9 ) Total property, plant and equipment, net $ 198.5 $ 201.7

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	3 Months Ended
	Jan. 31, 2020
Goodwill And Intangible Assets Disclosure [Abstract]
Summary of Goodwill by Segment and Change in Net Carrying Value of Goodwill	The table below represents goodwill by segment: January 31, 2020 October 31, 2019 Fire & Emergency $ 88.6 $ 88.6 Commercial 28.7 28.7 Recreation 42.5 42.5 Total goodwill $ 159.8 $ 159.8 The change in the net carrying value amount of goodwill consisted of the following: Three Months Ended January 31, 2020 2019 Balance at beginning of period $ 159.8 $ 161.8 Activity during the period: Acquisitions — (2.0 ) Balance at end of period $ 159.8 $ 159.8
Summary of Intangible Assets Excluding Goodwill	Intangible assets (excluding goodwill) consisted of the following: January 31, 2020 Weighted- Average Life Gross Accumulated Amortization Net Finite-lived intangible assets: Customer relationships 8.0 $ 111.6 $ (72.9 ) $ 38.7 Order backlog 1.0 5.2 (5.2 ) — Non-compete agreements 5.0 2.1 (1.4 ) 0.7 Trade names 7.0 3.5 (2.9 ) 0.6 Technology-related 7.0 0.9 (0.9 ) — 123.3 (83.3 ) 40.0 Indefinite-lived trade names 115.9 — 115.9 Total intangible assets, net $ 239.2 $ (83.3 ) $ 155.9 October 31, 2019 Weighted- Average Life Gross Accumulated Amortization Net Finite-lived intangible assets: Customer relationships 8.0 $ 126.7 $ (84.0 ) $ 42.7 Order backlog 1.0 6.7 (6.7 ) — Non-compete agreements 5.0 2.0 (1.3 ) 0.7 Trade names 7.0 3.5 (3.0 ) 0.5 Technology-related 7.0 0.9 (0.8 ) 0.1 139.8 (95.8 ) 44.0 Indefinite-lived trade names 115.9 — 115.9 Total intangible assets, net $ 255.7 $ (95.8 ) $ 159.9

Long-Term Debt (Tables)

Long-Term Debt (Tables)	3 Months Ended
	Jan. 31, 2020
Debt Disclosure [Abstract]
Summary of Long-Term Debt	The Company was obligated under the following debt instruments: January 31, 2020 October 31, 2019 April 2017 ABL facility $ 292.0 $ 210.0 Term Loan, net of debt issuance costs ($2.4 and $2.2) 169.7 170.2 461.7 380.2 Less: current maturities (3.4 ) (3.6 ) Long-term debt, less current maturities $ 458.3 $ 376.6

Warranties (Tables)

Warranties (Tables)	3 Months Ended
	Jan. 31, 2020
Guarantees [Abstract]
Schedule of Changes in Warranty Liability	Changes in the Company’s warranty liability consisted of the following: Three Months Ended January 31, 2020 2019 Balance at beginning of period $ 22.6 $ 30.8 Warranty provisions 5.6 5.4 Settlements made (7.6 ) (8.0 ) Balance at end of period $ 20.6 $ 28.2
Accrued Warranty Classified in Condensed Unaudited Consolidated Balance Sheets	Accrued warranty is classified in the Company’s Condensed Unaudited Consolidated Balance Sheets as follows: January 31, 2020 October 31, 2019 Current liabilities $ 15.6 $ 16.1 Other long-term liabilities 5.0 6.5 Total warranty liability $ 20.6 $ 22.6

Earnings Per Common Share (Tabl

Earnings Per Common Share (Tables)	3 Months Ended
	Jan. 31, 2020
Earnings Per Share [Abstract]
Reconciliation of Basic Weighted-Average Common Shares Outstanding to Diluted Weighted-Average Shares Outstanding	The table below reconciles basic weighted-average common shares outstanding to diluted weighted-average shares outstanding for the three months ended January 31, 2020 and January 31, 2019: Three Months Ended January 31, 2020 2019 Basic weighted-average common shares outstanding 62,783,080 63,023,076 Dilutive stock options — — Dilutive restricted stock units — — Dilutive performance stock units — — Diluted weighted-average common shares outstanding 62,783,080 63,023,076
Exclusions from Calculation of Weighted-Average Shares Outstanding Assuming Dilution Due to Anti-Dilutive Effect of Common Stock Equivalents	The table below represents exclusions from the calculation of weighted-average shares outstanding assuming dilution due to the anti-dilutive effect of the common stock equivalents for the three months ended January 31, 2020 and January 31, 2019: Three Months Ended January 31, 2020 2019 Anti-dilutive stock options 779,600 988,551 Anti-dilutive restricted stock units 2,447,696 1,590,393 Anti-dilutive performance stock units — 91,509 Anti-dilutive common stock equivalents 3,227,296 2,670,453

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
	Jan. 31, 2020
Commitments And Contingencies Disclosure [Abstract]
Schedule of Contingent Liabilities	The Company is contingently liable under bid, performance and specialty bonds and has open standby letters of credit issued by the Company’s banks in favor of third parties as follows: January 31, 2020 October 31, 2019 Performance, bid and specialty bonds $ 257.1 $ 229.9 Open standby letters of credit 11.4 14.3 Total $ 268.5 $ 244.2

Business Segment Information (T

Business Segment Information (Tables)	3 Months Ended
	Jan. 31, 2020
Segment Reporting [Abstract]
Selected Financial Information of Segments	Selected financial information of the Company’s segments is as follows: Three Months Ended January 31, 2020 Fire & Emergency Commercial Recreation Corporate, Other & Elims Consolidated Net sales $ 206.5 $ 158.2 $ 166.8 $ 0.6 $ 532.1 Depreciation and amortization $ 3.5 $ 1.9 $ 3.5 $ 1.9 $ 10.8 Capital expenditures $ 1.7 $ 0.6 $ 0.8 $ 0.1 $ 3.2 Total assets $ 632.0 $ 272.8 $ 330.3 $ 170.9 $ 1,406.0 Adjusted EBITDA $ 1.7 $ 10.8 $ 7.0 $ (8.2 ) Three Months Ended January 31, 2019 Fire & Emergency Commercial Recreation Corporate, Other & Elims Consolidated Net sales $ 204.1 $ 140.7 $ 176.3 $ (2.4 ) $ 518.7 Depreciation and amortization $ 3.5 $ 2.6 $ 4.0 $ 2.3 $ 12.4 Capital expenditures $ 1.4 $ 0.6 $ 1.4 $ 2.9 $ 6.3 Total assets $ 614.2 $ 291.7 $ 352.7 $ 116.0 $ 1,374.6 Adjusted EBITDA $ 8.4 $ 5.0 $ 9.1 $ (10.2 )
Reconciliation of Segment Adjusted EBITDA to Net Loss	Provided below is a reconciliation of segment Adjusted EBITDA to net loss: Three Months Ended January 31, 2020 2019 Fire & Emergency Adjusted EBITDA $ 1.7 $ 8.4 Commercial Adjusted EBITDA 10.8 5.0 Recreation Adjusted EBITDA 7.0 9.1 Corporate and Other Adjusted EBITDA (8.2 ) (10.2 ) Depreciation and amortization (10.8 ) (12.2 ) Interest expense, net (7.3 ) (7.8 ) Benefit for income taxes 2.6 4.4 Transaction expenses (1.1 ) (0.2 ) Sponsor expense reimbursement (0.1 ) (0.5 ) Restructuring costs (0.6 ) (1.1 ) Stock-based compensation expense (2.6 ) (1.4 ) Legal matters (0.1 ) (2.1 ) Impairment charges — (2.7 ) Losses attributable to assets held for sale (0.6 ) (1.7 ) Deferred purchase price payment (0.1 ) (1.6 ) Net loss $ (9.4 ) $ (14.6 )

Basis of Presentation - Additio

Basis of Presentation - Additional Information (Detail) - USD ($) $ in Millions	Feb. 02, 2020	Jan. 31, 2020	Jan. 31, 2020	Jan. 31, 2019
Subsequent Event [Member] | Spartan Emergency Response [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Asset acquisition cash consideration	$ 55
Primary Equity Holder [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Selling, general and administrative expenses charged by primary equity holder			$ 0.1	$ 0.5
Management [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Rent expense			$ 0.5	$ 0.5
American Industrial Partners [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Equity interest held by operating partnership, voting equity		53.90%

Revenue Recognition - Additiona

Revenue Recognition - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Jan. 31, 2020	Jan. 31, 2019
Revenue From Contract With Customer [Abstract]
Revenue recognized included in customer advances	$ 54.4	$ 43.7

Leases - Additional Information

Leases - Additional Information (Detail) $ in Millions	3 Months Ended
	Jan. 31, 2020USD ($)
Leases [Abstract]
Operating Lease, Cost	$ 2.3
Operating Lease, Payments	$ 2.2
Weighted average remaining lease term for operating leases	3 years 3 months 18 days
Weighted average discount rate for operating leases	5.10%

Leases - Schedule of Future Min

Leases - Schedule of Future Minimum Operating Lease Payments Due Under ASC 842 (Detail) $ in Millions	Jan. 31, 2020USD ($)
Leases [Abstract]
Remaining nine months of fiscal year 2020	$ 6.2
2021	7.4
2022	5.7
2023	3
2024	1.4
Thereafter	0.1
Total undiscounted lease payments	23.8
Less: imputed interest	(1.9)
Total lease liabilities	$ 21.9

Leases - Schedule of Future M_2

Leases - Schedule of Future Minimum Operating Lease Payments Due Under ASC 840 (Detail) $ in Millions	Oct. 31, 2019USD ($)
Leases [Abstract]
2020	$ 8.5
2021	7.5
2022	5.8
2023	3.3
2024	1.5
Thereafter	$ 0.1

Inventories - Schedule of Inven

Inventories - Schedule of Inventories, Net of Reserves (Detail) - USD ($) $ in Millions	Jan. 31, 2020	Oct. 31, 2019
Inventory Disclosure [Abstract]
Chassis	$ 60.4	$ 44.9
Raw materials	195.2	198.1
Work in process	212.3	200.8
Finished products	74.7	79.6
Inventory, Gross, Total	542.6	523.4
Less: reserves	(9.9)	(10)
Total inventories, net	$ 532.7	$ 513.4

Property, Plant and Equipment -

Property, Plant and Equipment - Summary of Property, Plant and Equipment (Detail) - USD ($) $ in Millions	Jan. 31, 2020	Oct. 31, 2019
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 325.9	$ 324.6
Less: accumulated depreciation	(127.4)	(122.9)
Total property, plant and equipment, net	198.5	201.7
Land and Land Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	24.3	24.2
Building and Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	107.8	107.6
Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	94.3	93.1
Rental and Used Vehicles [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	22.5	24.4
Computer Hardware and Software [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	62.3	58.1
Office Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	5.7	5.8
Construction in Progress [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 9	$ 11.4

Property, Plant and Equipment_2

Property, Plant and Equipment - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Jan. 31, 2020	Jan. 31, 2019
Property Plant And Equipment [Abstract]
Depreciation expense	$ 6.8	$ 7.8

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Summary of Goodwill by Segment (Detail) - USD ($) $ in Millions	Jan. 31, 2020	Oct. 31, 2019	Jan. 31, 2019	Oct. 31, 2018
Goodwill [Line Items]
Goodwill	$ 159.8	$ 159.8	$ 159.8	$ 161.8
Fire & Emergency [Member]
Goodwill [Line Items]
Goodwill	88.6	88.6
Commercial [Member]
Goodwill [Line Items]
Goodwill	28.7	28.7
Recreation [Member]
Goodwill [Line Items]
Goodwill	$ 42.5	$ 42.5

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Summary of Change in Net Carrying Value of Goodwill (Detail) $ in Millions	3 Months Ended
	Jan. 31, 2019USD ($)
Goodwill And Intangible Assets Disclosure [Abstract]
Balance at beginning of period	$ 161.8
Acquisitions	(2)
Balance at end of period	$ 159.8

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Summary of Intangible Assets Excluding Goodwill (Detail) - USD ($) $ in Millions	12 Months Ended
	Jan. 31, 2020	Oct. 31, 2019
Intangible Assets Excluding Goodwill [Line Items]
Finite-lived intangible assets, gross	$ 123.3	$ 139.8
Finite-lived intangible assets, accumulated amortization	(83.3)	(95.8)
Finite-lived intangible assets, net	40	44
Indefinite-lived trade names	115.9	115.9
Total intangible assets, gross	239.2	255.7
Total intangible assets, net	$ 155.9	$ 159.9
Customer Relationships [Member]
Intangible Assets Excluding Goodwill [Line Items]
Finite-lived intangible assets, Weighted-Average Life	8 years	8 years
Finite-lived intangible assets, gross	$ 111.6	$ 126.7
Finite-lived intangible assets, accumulated amortization	(72.9)	(84)
Finite-lived intangible assets, net	$ 38.7	$ 42.7
Order Backlog [Member]
Intangible Assets Excluding Goodwill [Line Items]
Finite-lived intangible assets, Weighted-Average Life	1 year	1 year
Finite-lived intangible assets, gross	$ 5.2	$ 6.7
Finite-lived intangible assets, accumulated amortization	$ (5.2)	$ (6.7)
Non-compete Agreements [Member]
Intangible Assets Excluding Goodwill [Line Items]
Finite-lived intangible assets, Weighted-Average Life	5 years	5 years
Finite-lived intangible assets, gross	$ 2.1	$ 2
Finite-lived intangible assets, accumulated amortization	(1.4)	(1.3)
Finite-lived intangible assets, net	$ 0.7	$ 0.7
Trade Names [Member]
Intangible Assets Excluding Goodwill [Line Items]
Finite-lived intangible assets, Weighted-Average Life	7 years	7 years
Finite-lived intangible assets, gross	$ 3.5	$ 3.5
Finite-lived intangible assets, accumulated amortization	(2.9)	(3)
Finite-lived intangible assets, net	$ 0.6	$ 0.5
Technology-related Intangible Assets [Member]
Intangible Assets Excluding Goodwill [Line Items]
Finite-lived intangible assets, Weighted-Average Life	7 years	7 years
Finite-lived intangible assets, gross	$ 0.9	$ 0.9
Finite-lived intangible assets, accumulated amortization	$ (0.9)	(0.8)
Finite-lived intangible assets, net		$ 0.1

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Jan. 31, 2020	Jan. 31, 2019
Goodwill And Intangible Assets Disclosure [Abstract]
Amortization expense	$ 4	$ 4.6

Divestiture Activities - Additi

Divestiture Activities - Additional Information (Detail) - USD ($)	3 Months Ended
	Jan. 31, 2020	Apr. 30, 2019	Jan. 31, 2019	Oct. 31, 2019
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Net cash proceeds from sale of business	$ 1,100,000
Property, plant and equipment, net				$ 200,000
Inventories, net				14,000,000
Accounts receivable, net				400,000
Other current and long-term assets				4,900,000
Accounts payable				11,700,000
Other current and long-term liabilities				$ 3,700,000
Assets held for sale	0
Liabilities held for sale	0
REV Coach Segment [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Net cash proceeds from sale of business	1,100,000
Expected proceeds to be received from divestiture of businesses next three months	$ 1,000,000
Mobility Van Business [Member] | Commercial Segment [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Annual sales of discontinued operation			$ 40,000,000
Regional Technical Center [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Net cash proceeds from sale of business		$ 11,400,000
Gain on sale of business		$ 1,200,000

Long-Term Debt - Summary of Lon

Long-Term Debt - Summary of Long-Term Debt (Detail) - USD ($) $ in Millions	Jan. 31, 2020	Oct. 31, 2019
Debt Instruments [Abstract]
April 2017 ABL facility	$ 292	$ 210
Term Loan, net of debt issuance costs ($2.4 and $2.2)	169.7	170.2
Long term debt including current maturities	461.7	380.2
Less: current maturities	(3.4)	(3.6)
Long-term debt, less current maturities	$ 458.3	$ 376.6

Long-Term Debt - Summary of L_2

Long-Term Debt - Summary of Long-Term Debt (Parenthetical) (Detail) - USD ($) $ in Millions	Jan. 31, 2020	Oct. 31, 2019	Oct. 18, 2019	Mar. 29, 2019	Jul. 18, 2018	Apr. 25, 2017
Debt Instrument [Line Items]
Debt issuance costs	$ 0.4		$ 0.2
Term Loan [Member]
Debt Instrument [Line Items]
Debt issuance costs	$ 2.4	$ 2.2		$ 0.8	$ 0.6	$ 2

Long-Term Debt - Additional Inf

Long-Term Debt - Additional Information (Detail) - USD ($)	Mar. 29, 2019	Jul. 18, 2018	Dec. 22, 2017	Apr. 25, 2017	Jan. 31, 2020	Oct. 31, 2021	Jul. 31, 2021	Jan. 30, 2020	Oct. 31, 2019	Oct. 18, 2019	Oct. 17, 2019
Debt Instrument [Line Items]
Debt issuance costs					$ 400,000					$ 200,000
Secured leverage declined basis points					0.25%
Maximum [Member]
Debt Instrument [Line Items]
Secured leverage net ratio					5.00%			4.00%		4.00%	3.50%
Maximum [Member] | Scenario, Forecast
Debt Instrument [Line Items]
Secured leverage net ratio						3.75%	3.50%
April 2017 Asset Based Lending Facility [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity				$ 350,000,000
Debt issuance costs			$ 400,000	4,900,000	$ 300,000
Additional increase in borrowing capacity				$ 100,000,000
Debt instrument maturity date				Apr. 25, 2022
Additional increase in borrowing capacity			$ 100,000,000
Available current borrowing capacity					196,600,000
April 2017 Asset Based Lending Facility [Member] | Base Rate
Debt Instrument [Line Items]
Debt instrument applicable interest rate margins			0.75%
April 2017 Asset Based Lending Facility [Member] | Eurodollar
Debt Instrument [Line Items]
Debt instrument applicable interest rate margins			1.75%
Required annual payment percentage			0.00%
April 2017 Asset Based Lending Facility [Member] | Minimum [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity			$ 350,000,000		450,000,000
April 2017 Asset Based Lending Facility [Member] | Maximum [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity			$ 450,000,000		$ 500,000,000
Fixed charge coverage ratio					100.00%
April 2017 Asset Based Lending Facility [Member] | Swing Lines Loan [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity				$ 30,000,000
April 2017 Asset Based Lending Facility [Member] | Letter of Credit [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity				35,000,000
Term Loan [Member]
Debt Instrument [Line Items]
Debt issuance costs	$ 800,000	$ 600,000		$ 2,000,000	$ 2,400,000				$ 2,200,000
Debt instrument maturity date					Apr. 25, 2022
Additional increase in borrowing capacity	50,000,000	50,000,000
Required annual payment percentage				0.25%
Debt principal amount				$ 75,000,000
Weighted-average interest rate on term loan					5.15%
Term Loan [Member] | Base Rate
Debt Instrument [Line Items]
Debt instrument applicable interest rate margins				2.50%
Debt instrument frequency of payment					Quarterly
Term Loan [Member] | Eurodollar
Debt Instrument [Line Items]
Debt instrument applicable interest rate margins				3.50%
Debt instrument , floor interest rate				1.00%
Debt instrument frequency of payment					Monthly or Quarterly
Term Loan [Member] | Minimum [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity	125,000,000	75,000,000
Term Loan [Member] | Maximum [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 175,000,000	$ 125,000,000
Additional increase in borrowing capacity					$ 125,000,000

Warranties - Schedule of Change

Warranties - Schedule of Changes in Warranty Liability (Detail) - USD ($) $ in Millions	3 Months Ended
	Jan. 31, 2020	Jan. 31, 2019
Guarantees [Abstract]
Balance at beginning of period	$ 22.6	$ 30.8
Warranty provisions	5.6	5.4
Settlements made	(7.6)	(8)
Balance at end of period	$ 20.6	$ 28.2

Warranties - Accrued Warranty C

Warranties - Accrued Warranty Classified Condensed Unaudited Consolidated Balance Sheets (Detail) - USD ($) $ in Millions	Jan. 31, 2020	Oct. 31, 2019	Jan. 31, 2019	Oct. 31, 2018
Guarantees [Abstract]
Current liabilities	$ 15.6	$ 16.1
Other long-term liabilities	5	6.5
Total warranty liability	$ 20.6	$ 22.6	$ 28.2	$ 30.8

Stock Repurchase Program - Addi

Stock Repurchase Program - Additional Information (Detail) - Common Stock [Member] - USD ($)	Sep. 05, 2018	Mar. 20, 2018	Jan. 31, 2020	Jan. 31, 2019	Oct. 31, 2019	Oct. 31, 2018
Equity Class Of Treasury Stock [Line Items]
Stock repurchase program, authorized amount to repurchase issued and outstanding common stock	$ 50,000,000
Stock repurchase program, expiration date	Sep. 4, 2020	Mar. 19, 2020
Stock repurchase program, number of remaining shares purchased			0	0	717,597	3,233,352
Stock repurchase program, total cost					$ 8,300,000	$ 53,300,000
Stock repurchase program, average price per share					$ 11.62	$ 16.47
Stock repurchase program, remaining authorized, amount			$ 38,300,000
Maximum [Member]
Equity Class Of Treasury Stock [Line Items]
Stock repurchase program, authorized amount to repurchase issued and outstanding common stock		$ 50,000,000

Earnings per Common Share - Rec

Earnings per Common Share - Reconciliation of Basic Weighted-Average Common Shares Outstanding to Diluted Weighted-Average Shares Outstanding (Detail) - shares	3 Months Ended
	Jan. 31, 2020	Jan. 31, 2019
Earnings Per Share [Abstract]
Basic weighted-average common shares outstanding	62,783,080	63,023,076
Dilutive stock options	0	0
Dilutive restricted stock units	0	0
Dilutive performance stock units	0	0
Diluted weighted-average common shares outstanding	62,783,080	63,023,076

Earnings per Common Share - Exc

Earnings per Common Share - Exclusions from Calculation of Weighted-Average Shares Outstanding Assuming Dilution Due to Anti-Dilutive Effect of Common Stock Equivalents (Detail) - shares	3 Months Ended
	Jan. 31, 2020	Jan. 31, 2019
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive common stock equivalents	3,227,296	2,670,453
Stock Options [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive common stock equivalents	779,600	988,551
Restricted Stock Units [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive common stock equivalents	2,447,696	1,590,393
Performance Stock Units [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive common stock equivalents	0	91,509

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Jan. 31, 2020	Jan. 31, 2019	Oct. 31, 2019
Income Tax Disclosure [Abstract]
Income tax benefit	$ 2.6	$ 4.4
Pre-tax (income) loss	22.00%	23.30%
Net discrete tax expense (benefit) related to stock-based compensation	$ 0.2	$ 0.3
Change in valuation allowance	0
Unrecognized tax benefits	2.7		$ 2.6
Unrecognized tax benefits that would affect the annual effective income tax rate if recognized	$ 0.3

Commitments and Contingencies -

Commitments and Contingencies - Schedule of Contingent Liabilities (Detail) - USD ($) $ in Millions	Jan. 31, 2020	Oct. 31, 2019
Commitments And Contingencies Disclosure [Abstract]
Performance, bid and specialty bonds	$ 257.1	$ 229.9
Open standby letters of credit	11.4	14.3
Total	$ 268.5	$ 244.2

Commitments and Contingencies_2

Commitments and Contingencies - Additional Information (Detail) - USD ($)	3 Months Ended	12 Months Ended
	Jan. 31, 2020	Oct. 31, 2019
Loss Contingencies [Line Items]
Contingent liability under purchase agreements for future chassis inventory purchases	$ 38,800,000	$ 48,600,000
Repurchase agreement	2 years
Represents the gross value of all vehicles under repurchase agreements	$ 209,300,000	212,500,000
Maximum [Member]
Loss Contingencies [Line Items]
Estimated loss exposure under contract	$ 24,700,000	$ 25,500,000

Business Segment Information -

Business Segment Information - Additional Information (Detail)	3 Months Ended
	Jan. 31, 2020Segment
Segment Reporting [Abstract]
Number of reportable segments	3

Business Segment Information _2

Business Segment Information - Schedule of Selected Financial Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Jan. 31, 2020	Jan. 31, 2019	Oct. 31, 2019
Segment Reporting Information [Line Items]
Net sales	$ 532.1	$ 518.7
Depreciation and amortization	10.8	12.4
Capital expenditures	3.2	6.3
Total assets	1,406	1,374.6	$ 1,347.1
Operating Segment [Member] | Fire & Emergency [Member]
Segment Reporting Information [Line Items]
Net sales	206.5	204.1
Depreciation and amortization	3.5	3.5
Capital expenditures	1.7	1.4
Total assets	632	614.2
Adjusted EBITDA	1.7	8.4
Operating Segment [Member] | Commercial [Member]
Segment Reporting Information [Line Items]
Net sales	158.2	140.7
Depreciation and amortization	1.9	2.6
Capital expenditures	0.6	0.6
Total assets	272.8	291.7
Adjusted EBITDA	10.8	5
Operating Segment [Member] | Recreation [Member]
Segment Reporting Information [Line Items]
Net sales	166.8	176.3
Depreciation and amortization	3.5	4
Capital expenditures	0.8	1.4
Total assets	330.3	352.7
Adjusted EBITDA	7	9.1
Corporate, Other and Elims [Member]
Segment Reporting Information [Line Items]
Net sales	0.6	(2.4)
Depreciation and amortization	1.9	2.3
Capital expenditures	0.1	2.9
Total assets	170.9	116
Adjusted EBITDA	$ (8.2)	$ (10.2)

Business Segment Information _3

Business Segment Information - Reconciliation of Segment Adjusted EBITDA to Net Loss (Detail) - USD ($) $ in Millions	3 Months Ended
	Jan. 31, 2020	Jan. 31, 2019
Segment Reporting Information [Line Items]
Interest expense, net	$ (7.3)	$ (7.8)
Benefit for income taxes	2.6	4.4
Restructuring costs	(0.6)	(1.1)
Stock-based compensation expense	(2.6)	(1.4)
Impairment charges		(2.7)
Net loss	(9.4)	(14.6)
Corporate and Other [Member]
Segment Reporting Information [Line Items]
Adjusted EBITDA	(8.2)	(10.2)
Operating Segment [Member] | Fire & Emergency [Member]
Segment Reporting Information [Line Items]
Adjusted EBITDA	1.7	8.4
Operating Segment [Member] | Commercial [Member]
Segment Reporting Information [Line Items]
Adjusted EBITDA	10.8	5
Operating Segment [Member] | Recreation [Member]
Segment Reporting Information [Line Items]
Adjusted EBITDA	7	9.1
Reconciling Items [Member]
Segment Reporting Information [Line Items]
Depreciation and amortization	(10.8)	(12.2)
Interest expense, net	(7.3)	(7.8)
Benefit for income taxes	2.6	4.4
Transaction expenses	(1.1)	(0.2)
Sponsor expense reimbursement	(0.1)	(0.5)
Restructuring costs	(0.6)	(1.1)
Stock-based compensation expense	(2.6)	(1.4)
Legal matters	(0.1)	(2.1)
Impairment charges		(2.7)
Losses attributable to assets held for sale	(0.6)	(1.7)
Deferred purchase price payment	$ (0.1)	$ (1.6)