ABM Industries (ABM) 10-Q 10 Mar 21 2021 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Jan. 31, 2021	Mar. 09, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jan. 31, 2021
Document Transition Report	false
Entity File Number	1-8929
Entity Registrant Name	ABM INDUSTRIES INC
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	94-1369354
Entity Address, Address Line One	One Liberty Plaza
Entity Address, Address Line Two	7th Floor
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10006
City Area Code	212
Local Phone Number	297-0200
Title of 12(b) Security	Common Stock, $0.01 par value
Trading Symbol	ABM
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		67,089,696
Entity Central Index Key	0000771497
Current Fiscal Year End Date	--10-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Amendment Flag	false

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions	Jan. 31, 2021	Oct. 31, 2020
Current assets
Cash and cash equivalents	$ 378.3	$ 394.2
Trade accounts receivable, net of allowances of $37.9 and $35.5 at January 31, 2021 and October 31, 2020, respectively	917.2	854.2
Costs incurred in excess of amounts billed	38.6	52.2
Prepaid expenses	85.1	85.4
Other current assets	55.5	55.9
Total current assets	1,474.6	1,441.9
Other investments	11.8	11.1
Property, plant and equipment, net of accumulated depreciation of $251.6 and $241.3 at January 31, 2021 and October 31, 2020, respectively	127.3	133.7
Right-of-use assets	136.2	143.1
Other intangible assets, net of accumulated amortization of $355.0 and $343.8 at January 31, 2021 and October 31, 2020, respectively	229	239.7
Goodwill	1,674.6	1,671.4
Other noncurrent assets	128.7	136.1
Total assets	3,782.2	3,776.9
Current liabilities
Current portion of long-term debt, net	116.9	116.7
Trade accounts payable	217.5	273.3
Accrued compensation	145.9	187.6
Accrued taxes—other than income	107.4	45.5
Insurance claims	156.7	155.2
Income taxes payable	38.6	6.2
Current portion of lease liabilities	33.9	35
Other accrued liabilities	200.8	167.3
Total current liabilities	1,017.8	986.9
Long-term debt, net	573.8	603
Long-term lease liabilities	125.3	131.4
Deferred income tax liability, net	3.7	10.8
Noncurrent insurance claims	360.2	366.3
Other noncurrent liabilities	122.2	168.1
Noncurrent income taxes payable	10.2	10.1
Total liabilities	2,213.1	2,276.6
Commitments and contingencies
Stockholders’ Equity
Preferred stock, $0.01 par value; 500,000 shares authorized; none issued	0	0
Common stock, $0.01 par value; 100,000,000 shares authorized; 67,078,471 and 66,748,157 shares issued and outstanding at January 31, 2021 and October 31, 2020, respectively	0.7	0.7
Additional paid-in capital	726.9	724.1
Accumulated other comprehensive loss, net of taxes	(25.9)	(30.8)
Retained earnings	867.5	806.4
Total stockholders’ equity	1,569.1	1,500.3
Total liabilities and stockholders’ equity	$ 3,782.2	$ 3,776.9

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Millions	Jan. 31, 2021	Oct. 31, 2020
Statement of Financial Position [Abstract]
Trade accounts receivable, allowance	$ 37.9	$ 35.5
Property, plant and equipment, accumulated depreciation	251.6	241.3
Other intangible assets, accumulated amortization	$ 355	$ 343.8
Preferred stock, par value (in usd per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	500,000	500,000
Preferred stock, shares issued (in shares)	0	0
Common stock, par value (in usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Common stock, shares issued (in shares)	67,078,471	66,748,157
Common stock, shares outstanding (in shares)	67,078,471	66,748,157

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Jan. 31, 2021	Jan. 31, 2020
Income Statement [Abstract]
Revenues	$ 1,492.4	$ 1,612.9
Operating expenses	1,249.4	1,433.7
Selling, general and administrative expenses	122.6	117.6
Restructuring and related expenses	0	3.1
Amortization of intangible assets	10.8	12.6
Operating profit	109.7	45.8
Income from unconsolidated affiliates	0.6	0.9
Interest expense	(8.5)	(10.2)
Income from continuing operations before income taxes	101.9	36.5
Income tax provision	(27.2)	(8.6)
Income from continuing operations	74.6	27.9
Income from discontinued operations, net of taxes	0	0.1
Net income	74.6	28
Other comprehensive income (loss)
Interest rate swaps	1.2	(1.1)
Foreign currency translation and other	4	0.4
Income tax (provision) benefit	(0.4)	0.3
Comprehensive income	$ 79.5	$ 27.6
Net income per common share — Basic
Income from continuing operations (in usd per share)	$ 1.11	$ 0.42
Income from discontinued operations (in usd per share)	0	0
Net income (in usd per share)	1.11	0.42
Net income per common share — Diluted
Income from continuing operations (in usd per share)	1.10	0.41
Income from discontinued operations (in usd per share)	0	0
Net income (in usd per share)	$ 1.10	$ 0.42
Weighted-average common and common equivalent shares outstanding
Basic (in shares)	67.2	66.9
Diluted (in shares)	67.6	67.2

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) shares in Millions, $ in Millions	Total	Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Loss, Net of Taxes	Retained Earnings
Balance, beginning of year (in shares) at Oct. 31, 2019		66.6
Balance, beginning of year at Oct. 31, 2019		$ 0.7	$ 708.9	$ (23.9)	$ 856.3
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock issued under employee stock purchase and share-based compensation plans (in shares)		0.2
Stock issued under employee stock purchase and share-based compensation plans		$ 0	(2)
Share-based compensation expense			4.9
Other comprehensive income (loss)				(0.4)
Net income	$ 28				28
Dividends
Common stock ($0.190 and $0.185 per share)					(12.3)
Stock issued under share-based compensation plans					(0.4)
Balance, end of year (in shares) at Jan. 31, 2020		66.8
Balance, end of year at Jan. 31, 2020	1,559.7	$ 0.7	711.8	(24.3)	871.6
Balance, beginning of year (in shares) at Oct. 31, 2020		66.7
Balance, beginning of year at Oct. 31, 2020	1,500.3	$ 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)		0.3
Stock issued under employee stock purchase and share-based compensation plans		$ 0	(5.6)
Share-based compensation expense			8.5
Other comprehensive income (loss)				4.9
Net income	74.6				74.6
Dividends
Common stock ($0.190 and $0.185 per share)					(12.7)
Stock issued under share-based compensation plans					(0.9)
Balance, end of year (in shares) at Jan. 31, 2021		67.1
Balance, end of year at Jan. 31, 2021	$ 1,569.1	$ 0.7	$ 726.9	$ (25.9)	$ 867.5

Consolidated Statements of St_2

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

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Jan. 31, 2021	Jan. 31, 2020
Cash flows from operating activities
Net income	$ 74.6	$ 28
Income from discontinued operations, net of taxes	0	(0.1)
Income from continuing operations	74.6	27.9
Adjustments to reconcile income from continuing operations to net cash provided by (used in) operating activities of continuing operations
Depreciation and amortization	22.3	24.4
Deferred income taxes	(7.4)	(1)
Share-based compensation expense	8.5	4.9
Provision for bad debt	3	2.4
Amortization of accumulated other comprehensive gain on interest rate swaps	(1.6)	(1.7)
Loss on sale of assets	1	0.3
Income from unconsolidated affiliates	(0.6)	(0.9)
Changes in operating assets and liabilities
Trade accounts receivable and costs incurred in excess of amounts billed	(52.3)	3
Prepaid expenses and other current assets	0.8	(8.5)
Right-of-use assets	6.9	4.1
Other noncurrent assets	5.9	(1.6)
Trade accounts payable and other accrued liabilities	(3)	(88.9)
Long-term lease liabilities	(6.1)	(4.2)
Insurance claims	(4.6)	(1)
Income taxes payable	32.5	7.6
Other noncurrent liabilities	(34.5)	(1.1)
Total adjustments	(29.3)	(62.3)
Net cash provided by (used in) operating activities of continuing operations	45.3	(34.5)
Net cash provided by operating activities of discontinued operations	0	0.2
Net cash provided by (used in) operating activities	45.3	(34.3)
Cash flows from investing activities
Additions to property, plant and equipment	(6.6)	(11.5)
Proceeds from sale of assets	1.4	4.2
Proceeds from redemption of auction rate security	0	5
Net cash used in investing activities	(5.2)	(2.3)
Cash flows from financing activities
Taxes withheld from issuance of share-based compensation awards, net	(6.5)	(2.4)
Dividends paid	(12.7)	(12.3)
Borrowings from credit facility	2.6	425
Repayment of borrowings from credit facility	(32.6)	(368.6)
Changes in book cash overdrafts	(12)	6.4
Financing of energy savings performance contracts	4	1.1
Repayment of finance lease obligations	(0.7)	(0.8)
Net cash (used in) provided by financing activities	(57.8)	48.4
Effect of exchange rate changes on cash and cash equivalents	1.9	(0.4)
Net (decrease) increase in cash and cash equivalents	(15.9)	11.4
Cash and cash equivalents at beginning of year	394.2	58.5
Cash and cash equivalents at end of year	$ 378.3	$ 69.8

The Company and Nature of Opera

The Company and Nature of Operations	3 Months Ended
	Jan. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
The Company and Nature of Operations	THE COMPANY AND NATURE OF OPERATIONS ABM is a leading provider of integrated facility services with a mission to make a difference, every person, every day . We are organized into four industry groups and one Technical Solutions segment:

Basis of Presentation and Signi

Basis of Presentation and Significant Accounting Policies	3 Months Ended
	Jan. 31, 2021
Accounting Policies [Abstract]
Basis of Presentation and Significant Accounting Policies	BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying unaudited consolidated financial statements have been prepared in accordance with (i) United States generally accepted accounting principles (“U.S. GAAP”) for interim financial information and (ii) the instructions to Form 10-Q and Article 10 of Regulation S-X. In the opinion of our management, our unaudited consolidated financial statements and accompanying notes (the “Financial Statements”) include all normal recurring adjustments that are necessary for the fair statement of the interim periods presented. Interim results of operations are not necessarily indicative of results for the full year. The Financial Statements should be read in conjunction with our audited consolidated financial statements (and notes thereto) in our Annual Report on Form 10-K for the year ended October 31, 2020. Unless otherwise indicated, all references to years are to our fiscal years, which end on October 31. Impact of the Pandemic COVID-19 has resulted in a worldwide health Pandemic. To date, the Pandemic has surfaced in regions all around the world and resulted in business slowdowns and shutdowns, as well as global travel restrictions. In these Financial Statements we have assessed the current impact of the Pandemic on our financial condition, results of operations, and cash flows as well as on our estimates, forecasts, and accounting policies. We have made additional disclosures of these assessments, as necessary. Given the unprecedented nature of this situation, we cannot reasonably estimate the full impact the Pandemic will have on our financial condition, results of operations, or cash flows in the foreseeable future. The ultimate impact of the Pandemic on our company is highly uncertain and will depend on future developments, and such impacts could exist for an extended period of time, even after the Pandemic subsides. The Pandemic continues to create a dynamic client environment, and we are working diligently to ensure our clients’ changing staffing and service needs are met while actively managing direct labor and related personnel costs, including furloughs or reduced hours for certain frontline employees in markets significantly impacted by business slowdowns and shutdowns. Rounding We round amounts in the Financial Statements to millions and calculate all percentages and per-share data from the underlying whole-dollar amounts. Thus, certain amounts may not foot, crossfoot, or recalculate based on reported numbers due to rounding. Discontinued Operations Following the sale of our Security business in 2015, we record all costs associated with this former business in discontinued operations. Such costs generally relate to litigation we retained and insurance reserves. Management Reimbursement Revenue by Segment We operate certain parking facilities under management reimbursement arrangements. Under these arrangements, we manage the parking facilities for management fees and pass through the revenues and expenses associated with the facilities to the owners. These revenues and expenses are reported in equal amounts as costs reimbursed from our managed locations: Three Months Ended January 31, (in millions) 2021 2020 Business & Industry $ 43.4 $ 73.7 Aviation 13.7 25.9 Total $ 57.0 $ 99.6 Recently Adopted Accounting Standards The Financial Accounting Standards Board (“FASB”) issued ASU No. 2016-13, Financial Instruments—Credit Losses (Topic 326) in June 2016 and subsequently issued these amendments to the initial guidance: ASU 2018-19, ASU 2019-04, ASU 2019-05, ASU 2019-11, and ASU 2020-03 (collectively, “Topic 326”). Topic 326 replaces the existing incurred loss impairment model with a methodology that incorporates all expected credit loss estimates, resulting in more timely recognition of losses. Under Topic 326, an organization is required to measure all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the reported financial assets. It also requires credit losses related to available-for-sale debt securities to be recorded through an allowance for credit losses. We adopted this standard effective November 1, 2020, on a modified retrospective basis. The asset and liability classes that we have identified to be in the scope of Topic 326 at the time of the adoption are trade accounts receivable, costs incurred in excess of amounts billed, guarantees, reinsurance recoverables, and notes receivable. The adoption of this standard did not have a material impact on our consolidated financial statements. In August 2018, the FASB issued ASU No. 2018-15, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract. This accounting update aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. The guidance also specifies that the presentation of capitalized implementation costs and the related amortization on the balance sheet, income statement, and statement of cash flows should align with the presentation of the hosting (service) element of the arrangement. We adopted this standard effective November 1, 2020, on a prospective basis. The adoption of the standard did not have a material impact on our consolidated financial statements.

Revenues

Revenues	3 Months Ended
	Jan. 31, 2021
Revenue from Contract with Customer [Abstract]
Revenues	REVENUES Disaggregation of Revenues We generate revenues under several types of contracts, which are further explained below. Generally, the type of contract is determined by the nature of the services provided by each of our major service lines throughout our reportable segments; therefore, we disaggregate revenues from contracts with customers into major service lines. We have determined that disaggregating revenues into these categories best depicts how the nature, amount, timing, and uncertainty of revenues and cash flows are affected by economic factors. Our reportable segments are Business & Industry (“B&I”), Technology and Manufacturing (“T&M”), Education, Aviation, and Technical Solutions, as described in Note 10, “Segment Information.” Three Months Ended January 31, 2021 (in millions) B&I T&M Education Aviation Technical Total Major Service Line Janitorial (1) $ 650.4 $ 196.9 $ 184.8 $ 29.1 $ — $ 1,061.2 Parking (2) 69.0 11.7 0.2 55.4 — 136.2 Facility Services (3) 89.9 40.6 24.5 6.9 — 161.9 Building & Energy Solutions (4) — — — — 113.4 113.4 Airline Services (5) 0.1 — — 51.7 — 51.8 $ 809.4 $ 249.2 $ 209.4 $ 143.1 $ 113.4 $ 1,524.5 Elimination of inter-segment revenues (32.1) Total $ 1,492.4 Three Months Ended January 31, 2020 (in millions) B&I T&M Education Aviation Technical Total Major Service Line Janitorial (1) $ 593.5 $ 185.6 $ 186.2 $ 34.6 $ — $ 1,000.0 Parking (2) 125.9 8.1 0.7 84.9 — 219.6 Facility Services (3) 101.4 40.2 21.0 11.7 — 174.3 Building & Energy Solutions (4) — — — — 142.0 142.0 Airline Services (5) 0.1 — — 107.5 — 107.6 $ 820.9 $ 233.9 $ 208.0 $ 238.7 $ 142.0 $ 1,643.6 Elimination of inter-segment revenues (30.6) Total $ 1,612.9 (1) Janitorial arrangements provide a wide range of essential cleaning services for commercial office buildings, airports and other transportation centers, educational institutions, government buildings, health facilities, industrial buildings, retail stores, and stadiums and arenas. These arrangements are often structured as monthly fixed-price, square-foot, cost-plus, and work order contracts. (2) Parking arrangements provide parking and transportation services for clients at various locations, including airports and other transportation centers, commercial office buildings, educational institutions, health facilities, hotels, and stadiums and arenas. These arrangements are structured as management reimbursement, leased location, and allowance contracts. Certain of these arrangements are considered service concession agreements and are accounted for under the guidance of ASU 2017-10, Service Concession Arrangements (Topic 853): Determining the Customer of the Operation Services ; accordingly, rent expense related to these arrangements is recorded as a reduction of the related parking service revenues. (3) Facility Services arrangements provide onsite mechanical engineering and technical services and solutions relating to a broad range of facilities and infrastructure systems that are designed to extend the useful life of facility fixed assets, improve equipment operating efficiencies, reduce energy consumption, lower overall operational costs for clients, and enhance the sustainability of client locations. These arrangements are generally structured as monthly fixed-price, cost-plus, and work order contracts. (4) Building & Energy Solutions arrangements provide custom energy solutions, electrical, HVAC, lighting, and other general maintenance and repair services for clients in the public and private sectors and are generally structured as Energy Savings, Fixed-Price Repair, and Refurbishment contracts. We also franchise certain operations under franchise agreements relating to our Linc Network and TEGG brands, pursuant to franchise contracts. (5) Airline Services arrangements support airlines and airports with services such as passenger assistance, catering logistics, and airplane cabin maintenance. These arrangements are often structured as monthly fixed-price, cost-plus, transaction price, and hourly contracts. Contract Types We have arrangements under various contract types, as described in Note 2, “Basis of Presentation and Significant Accounting Policies,” in our Annual Report on Form 10-K for the year ended October 31, 2020. Certain arrangements involve variable consideration (primarily per transaction fees, reimbursable expenses, and sales-based royalties). We do not estimate the variable consideration for these arrangements; rather, we recognize these variable fees as they are earned. The majority of our contracts include performance obligations that are primarily satisfied over time as we provide the related services. These contract types include: monthly fixed-price; square-foot; cost-plus; work orders; transaction-price; hourly; management reimbursement; leased location; allowance; energy savings contracts; and fixed-price repair and refurbishment contracts, as well as our franchise and royalty fee arrangements. We recognize revenue as the services are performed using a measure of progress that is determined by the contract type. Generally, most of our contracts are cancelable by either party without a substantive penalty, and the majority have a notification period of 30 to 60 days. We primarily account for our performance obligations under the series guidance, using the as-invoiced practical expedient when applicable. We apply the as-invoiced practical expedient to record revenue as the services are provided, given the nature of the services provided and the frequency of billing under the customer contracts. Under this practical expedient, we recognize revenue in an amount that corresponds directly with the value to the customer of our performance completed to date and for which we have the right to invoice the customer. Remaining Performance Obligations At January 31, 2021, performance obligations that were unsatisfied or partially unsatisfied for which we expect to recognize revenue totaled $246.5 million. We expect to recognize revenue on approximately 61% of the remaining performance obligations over the next 12 months, with the remainder recognized thereafter, based on our estimates of project timing. These amounts exclude variable consideration primarily related to: (i) contracts where we have determined that the contract consists of a series of distinct service periods and revenues are based on future performance that cannot be estimated at contract inception; (ii) parking contracts where we and the customer share the gross revenues or operating profit for the location; and (iii) contracts where transaction prices include performance incentives that are based on future performance and therefore cannot be estimated at contract inception. We apply the practical expedient that permits exclusion of information about the remaining performance obligations with original expected durations of one year or less. Contract Balances The timing of revenue recognition, billings, and cash collections results in contract assets and contract liabilities, as further explained below. The timing of revenue recognition may differ from the timing of invoicing to customers. Contract assets primarily consist of billed trade receivables, unbilled trade receivables, and costs incurred in excess of amounts billed. Billed and unbilled trade receivables represent amounts from work completed in which we have an unconditional right to bill our customer. Costs incurred in excess of amounts billed typically arise when the revenue recognized on projects exceeds the amount billed to the customer. These amounts are transferred to billed trade receivables when the rights become unconditional. Contract assets also include the capitalization of incremental costs of obtaining a contract with a customer, primarily commissions. Commissions expense is recognized on a straight-line basis over a weighted average expected customer relationship period. Contract liabilities consist of deferred revenue and advance payments and billings in excess of revenue recognized. We generally classify contract liabilities as current since the related contracts are generally for a period of one year or less. Contract liabilities decrease as we recognize revenue from the satisfaction of the related performance obligation. The following tables present the balances in our contract assets and contract liabilities: (in millions) January 31, 2021 October 31, 2020 Contract assets Billed trade receivables (1) $ 896.8 $ 835.8 Unbilled trade receivables (1) 58.3 53.9 Costs incurred in excess of amounts billed (2) 38.6 52.2 Capitalized commissions (3) 24.9 25.2 (1) Included in trade accounts receivable, net, on the unaudited Consolidated Balance Sheets. The fluctuations correlate directly to the execution of new customer contracts and to invoicing and collections from customers in the normal course of business. (2) Fluctuation is primarily due to the timing of payments on our contracts measured using the cost-to-cost method of revenue recognition. (3) Included in other current assets and other noncurrent assets on the unaudited Consolidated Balance Sheets. During the three months ended January 31, 2021, we capitalized $3.0 million of new costs and amortized $3.3 million of previously capitalized costs. There was no impairment loss recorded on the costs capitalized. (in millions) Three Months Ended Contract liabilities (1) Balance at beginning of period $ 36.4 Additional contract liabilities 31.5 Recognition of deferred revenue (14.8) Balance at end of period $ 53.1

Net Income Per Common Share

Net Income Per Common Share	3 Months Ended
	Jan. 31, 2021
Earnings Per Share [Abstract]
Net Income Per Common Share	NET INCOME PER COMMON SHARE Basic and Diluted Net Income Per Common Share Calculations Three Months Ended January 31, (in millions, except per share amounts) 2021 2020 Income from continuing operations $ 74.6 $ 27.9 Income from discontinued operations, net of taxes — 0.1 Net income $ 74.6 $ 28.0 Weighted-average common and common equivalent shares 67.2 66.9 Effect of dilutive securities Restricted stock units 0.2 0.1 Stock options 0.1 0.1 Performance shares 0.2 0.1 Weighted-average common and common equivalent shares 67.6 67.2 Net income per common share — Basic Income from continuing operations $ 1.11 $ 0.42 Income from discontinued operations — — Net income $ 1.11 $ 0.42 Net income per common share — Diluted Income from continuing operations $ 1.10 $ 0.41 Income from discontinued operations — — Net income $ 1.10 $ 0.42 Anti-Dilutive Outstanding Stock Awards Issued Under Share-Based Compensation Plans Three Months Ended January 31, (in millions) 2021 2020 Anti-dilutive 0.1 0.2

Fair Value of Financial Instrum

Fair Value of Financial Instruments	3 Months Ended
	Jan. 31, 2021
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	FAIR VALUE OF FINANCIAL INSTRUMENTS Fair Value Hierarchy of Our Financial Instruments Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis (in millions) Fair Value Hierarchy January 31, 2021 October 31, 2020 Cash and cash equivalents (1) 1 $ 378.3 $ 394.2 Insurance deposits (2) 1 0.7 0.7 Assets held in funded deferred compensation plan (3) 1 2.8 2.6 Credit facility (4) 2 695.3 725.3 Interest rate swap liabilities (5) 2 12.7 15.5 (1) Cash and cash equivalents are stated at nominal value, which equals fair value. (2) Represents restricted deposits that are used to collateralize our insurance obligations and are stated at nominal value, which equals fair value. These insurance deposits are included in “Other noncurrent assets” on the accompanying unaudited Consolidated Balance Sheets. See Note 6, “Insurance,” for further information. (3) Represents investments held in a Rabbi trust associated with one of our deferred compensation plans, which we include in “Other noncurrent assets” on the accompanying unaudited Consolidated Balance Sheets. The fair value of the assets held in the funded deferred compensation plan is based on quoted market prices. (4) Represents gross outstanding borrowings under our syndicated line of credit and term loan. Due to variable interest rates, the carrying value of outstanding borrowings under our line of credit and term loan approximates the fair value. See Note 7, “Credit Facility,” for further information. (5) Represents interest rate swap derivatives designated as cash flow hedges. The fair values of the interest rate swaps are estimated based on the present value of the difference between expected cash flows calculated at the contracted interest rates and the expected cash flows at current market interest rates using observable benchmarks for the London Interbank Offered Rate (“LIBOR”) forward rates at the end of the period. At January 31, 2021 and October 31, 2020, our interest rate swaps are included in “Other noncurrent liabilities” on the accompanying unaudited Consolidated Balance Sheets. See Note 7, “Credit Facility,” for further information. During the three months ended January 31, 2021, we had no transfers of assets or liabilities between any of the above hierarchy levels. Non-Financial Assets Measured at Fair Value on a Non-Recurring Basis

Insurance

Insurance	3 Months Ended
	Jan. 31, 2021
Insurance [Abstract]
Insurance	INSURANCEWe use a combination of insured and self-insurance programs to cover workers’ compensation, general liability, automobile liability, property damage, and other insurable risks. For the majority of these insurance programs, we retain the initial $1.0 million to $1.5 million of exposure on a per-occurrence basis, either through deductibles or self-insured retentions. Beyond the retained exposures, we have varying primary policy limits ranging between $1.0 million and $5.0 million per occurrence. To cover general liability and automobile liability losses above these primary limits, we maintain commercial umbrella insurance policies that provide aggregate limits of $200.0 million. Our insurance policies generally cover workers’ compensation losses to the full extent of statutory requirements. Additionally, to cover property damage risks above our retained limits, we maintain policies that provide per occurrence limits of $75.0 million. We are also self-insured for certain employee medical and dental plans. We maintain stop-loss insurance for our self-insured medical plan under which we retain up to $0.5 million of exposure on a per-participant, per-year basis with respect to claims. We maintain our reserves for workers’ compensation, general liability, automobile liability, and property damage insurance claims based upon known trends and events and the actuarial estimates of required reserves considering the most recently completed actuarial reports. We use all available information to develop our best estimate of insurance claims reserves as information is obtained. The results of actuarial reviews are used to estimate our insurance rates and insurance reserves for future periods and to adjust reserves, if appropriate, for prior years. Actuarial Review Performed During the First Quarter of 2021 We review our self-insurance liabilities on a regular basis and adjust our accruals accordingly. Actual claims activity or development may vary from our assumptions and estimates, which may result in material losses or gains. As we obtain additional information that affects the assumptions and estimates used in our reserve liability calculations, we adjust our self-insurance rates and reserves for future periods and, if appropriate, adjust our reserves for claims incurred in prior accounting periods. During the first quarter of 2021, we performed a comprehensive actuarial review of the majority of our casualty insurance programs to evaluate changes made to claims reserves and claims payment activity for the period of May 1, 2020 through October 31, 2020 (the “Actuarial Review”). The Actuarial Review was comprehensive in nature and was based on loss development patterns, trend assumptions, and underlying expected loss costs during the period analyzed. The Actuarial Review again demonstrated that the changes we have made to our risk management programs continue to positively impact the frequency and severity of claims. Based on the results of the Actuarial Review, we decreased our total reserves for known claims as well as our estimate of the loss amounts associated with incurred but not reported claims (“IBNR claims”) by $14.4 million during the three months ended January 31, 2021; $11.4 million of that amount relates to prior years. During the three months ended January 31, 2020, we decreased our total reserves related to prior year claims by $6.6 million. We will continue to assess ongoing developments, which may result in further adjustments to reserves. Insurance Related Balances and Activity (in millions) January 31, 2021 October 31, 2020 Insurance claim reserves, excluding medical and dental $ 498.6 $ 504.9 Medical and dental claim reserves 18.3 16.6 Insurance recoverables 70.2 70.1 At January 31, 2021 and October 31, 2020, insurance recoverables are included in both “Other current assets” and “Other noncurrent assets” on the accompanying unaudited Consolidated Balance Sheets. Instruments Used to Collateralize Our Insurance Obligations (in millions) January 31, 2021 October 31, 2020 Standby letters of credit $ 141.4 $ 143.6 Surety bonds 85.7 82.6 Restricted insurance deposits 0.7 0.7 Total $ 227.8 $ 226.9

Credit Facility

Credit Facility	3 Months Ended
	Jan. 31, 2021
Debt Disclosure [Abstract]
Credit Facility	CREDIT FACILITY On September 1, 2017, we refinanced and replaced our then-existing $800.0 million credit facility with a new senior, secured five-year syndicated credit facility (the “Credit Facility”), consisting of a $900.0 million revolving line of credit and an $800.0 million amortizing term loan, both of which are 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. The Credit Facility also provides for the issuance of up to $300.0 million for standby letters of credit and the issuance of up to $75.0 million in swingline advances. The obligations under the Credit Facility are secured on a first-priority basis by a lien on substantially all of our assets and properties, subject to certain exceptions. To further enhance our financial flexibility as a precautionary measure in response to uncertainty arising from the Pandemic, we amended our Credit Facility (the “Amendment”) on May 28, 2020. The Amendment modified the financial covenants under the Credit Facility, including: (i) replacing a maximum total leverage ratio with a maximum total net leverage ratio that varies on a quarterly basis and adjusts to 4.00 to 1.00 by the quarter ending October 31, 2022; (ii) modifying the minimum fixed charge coverage ratio on a quarterly basis, which adjusts to 1.25 to 1.00 as of the quarter ending April 30, 2022; and (iii) adding a minimum liquidity (defined in the Amendment as domestic cash plus available revolving loans) of $250.0 million. These financial covenants were effective with the quarter ended April 30, 2020. Our borrowing capacity is subject to, and limited by, compliance with these covenants. At January 31, 2021, we were in compliance with these covenants. The Amendment also changed the interest rate, interest margins, and commitment fees applicable to loans and commitments under the Credit Facility. Prior to the Amendment, borrowings under the Credit Facility bore interest at a rate equal to 1-month LIBOR plus a spread that was based upon our leverage ratio. The spread ranged from 1.00% to 2.25% for Eurocurrency loans and 0.00% to 1.25% for base rate loans. We were also charged a commitment fee, which was paid quarterly in arrears and was based on our leverage ratio, that ranged from 0.200% to 0.350% on the average daily unused portion of the revolving line of credit. For purposes of this calculation, irrevocable standby letters of credit, which are issued primarily in conjunction with our insurance programs, and cash borrowings were included as outstanding under the line of credit. Subsequent to the Amendment, borrowings under the Credit Facility bear interest at a rate equal to 1-month LIBOR plus a spread that is based upon our total leverage ratio. The spread ranges from 1.00% to 2.75% for revolving Eurocurrency loans and 0.00% to 1.75% for revolving base rate loans. At January 31, 2021, the weighted average interest rate on our outstanding borrowings was 2.39%. We are also charged a commitment fee, which is paid quarterly in arrears and is based on our total leverage ratio, that ranges from 0.200% to 0.450% on the average daily unused portion of the revolving line of credit. For purposes of this calculation, irrevocable standby letters of credit, which are issued primarily in conjunction with our insurance programs, and cash borrowings are included as outstanding under the revolving line of credit. The Credit Facility also includes customary events of default, such as: 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, the lenders can terminate or suspend our access to the 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. Total deferred financing costs related to the Credit Facility of $18.7 million, consisting of $13.4 million related to the term loan and $5.2 million related to the line of credit, are being amortized to interest expense over the term of the Credit Facility. We incurred total fees of $4.6 million in conjunction with the Amendment, the majority of which we capitalized in the quarter ended July 31, 2020, and are amortizing over the remaining term of the Credit Facility. Credit Facility Information (in millions) January 31, 2021 October 31, 2020 Current portion of long-term debt Gross term loan $ 120.0 $ 120.0 Unamortized deferred financing costs (3.1) (3.3) Current portion of term loan $ 116.9 $ 116.7 Long-term debt Gross term loan $ 530.0 $ 560.0 Unamortized deferred financing costs (1.5) (2.3) Total noncurrent portion of term loan 528.5 557.7 Revolving line of credit (1)(2) 45.3 45.3 Long-term debt $ 573.8 $ 603.0 (1) Standby letters of credit amounted to $151.0 million at January 31, 2021. (2) At January 31, 2021, we had borrowing capacity of $599.4 million, reflecting covenant restrictions. Term Loan Maturities During the three months ended January 31, 2021, we made principal payments under the term loan of $30.0 million. As of January 31, 2021, the following principal payments are required under the term loan. (in millions) 2021 2022 Debt maturities $ 90.0 $ 560.0 Interest Rate Swaps We enter into interest rate swaps to manage the interest rate risk associated with our floating-rate, LIBOR-based borrowings. Under these arrangements, we typically pay a fixed interest rate in exchange for LIBOR-based variable interest throughout the life of the agreement. We initially report the mark-to-market gain or loss on a derivative as a component of accumulated other comprehensive loss (“AOCL”) and subsequently reclassify the gain or loss into earnings when the hedged transactions occur and affect earnings. Interest payables and receivables under the swap agreements are accrued and recorded as adjustments to interest expense. All of our interest rate swaps have been designated and accounted for as cash flow hedges from inception. See Note 5, “Fair Value of Financial Instruments,” regarding the valuation of our interest rate swaps. Notional Amount Fixed Interest Rate Effective Date Maturity Date $ 90.0 million 2.83% November 1, 2018 April 30, 2021 $ 90.0 million 2.84% November 1, 2018 October 31, 2021 $ 130.0 million 2.86% November 1, 2018 April 30, 2022 $ 130.0 million 2.84% November 1, 2018 September 1, 2022 At January 31, 2021 and October 31, 2020, amounts recorded in AOCL for interest rate swaps were a loss of $2.5 million, net of taxes of $0.5 million, and a loss of $3.3 million, net of taxes of $0.9 million, respectively. These amounts included the gain associated with the interest rate swaps we terminated in 2018, which is being amortized to interest expense as interest payments are made over the term of our Credit Facility. During the three months ended January 31, 2021, we amortized $1.2 million of this gain, net of taxes of $0.4 million, to interest expense. During the three months ended January 31, 2020, we amortized $1.2 million, net of taxes of $0.4 million. At January 31, 2021, the total amount expected to be reclassified from AOCL to earnings during the next twelve months is a loss of $4.3 million, net of a tax benefit of $1.4 million.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Jan. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIES Letters of Credit and Surety Bonds We use letters of credit and surety bonds to secure certain commitments related to insurance programs and for other purposes. As of January 31, 2021, these letters of credit and surety bonds totaled $151.0 million and $640.6 million, respectively. Guarantees In some instances, we offer clients guaranteed energy savings under certain energy savings contracts. At January 31, 2021, total guarantees were $173.8 million and extend through 2040. We accrue for the estimated cost of guarantees when it is probable that a liability has been incurred and the amount can be reasonably estimated. Historically, we have not incurred any material losses in connection with these guarantees. Sales Taxes We collect sales tax from clients and remit those collections to the applicable states. When clients fail to pay their invoices, including the amount of any sales tax that we paid on their behalf, in some cases we are entitled to seek a refund of that amount of sales tax from the applicable state. Sales tax laws and regulations enacted by the various states are subject to interpretation, and our compliance with such laws is routinely subject to audit and review by such states. Audit risk is concentrated in several states that are conducting ongoing audits. The outcomes of ongoing and any future audits and changes in the states’ interpretation of the sales tax laws and regulations could materially adversely impact our results of operations. Legal Matters We are a party to a number of lawsuits, claims, and proceedings incident to the operation of our business, including those pertaining to labor and employment, contracts, personal injury, and other matters, some of which allege substantial monetary damages. Some of these actions may be brought as class actions on behalf of a class or purported class of employees. At January 31, 2021, the total amount accrued for probable litigation losses where a reasonable estimate of the loss could be made was $13.8 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 million. Factors underlying this estimated range of loss may change from time to time, and actual results may vary significantly from this estimate. The amounts above do not include any accrual or loss estimates with respect to the Bucio case described below, because a reasonable estimate of loss or range of loss cannot be made at this time. Litigation outcomes are difficult to predict and the estimation of probable losses requires the analysis of multiple possible outcomes that often depend on judgments about potential actions by third parties. If one or more matters are resolved in a particular period in an amount in excess of, or in a manner different than, what we anticipated, this could have a material adverse effect on our financial position, results of operations, or cash flows. In some cases, although a loss is probable or reasonably possible, we cannot reasonably estimate the maximum potential losses for probable matters or the range of losses for reasonably possible matters. Therefore, our accrual for probable losses and our estimated range of loss for reasonably possible losses do not represent our maximum possible exposure. Certain Legal Proceedings In determining whether to include any particular lawsuit or other proceeding in our disclosure below, we consider both quantitative and qualitative factors. These factors include, but are not limited to: the amount of damages and the nature of any other relief sought in the proceeding; if such damages and other relief are specified, our view of the merits of the claims; whether the action is or purports to be a class action, and our view of the likelihood that a class will be certified by the court; the jurisdiction in which the proceeding is pending; and the potential impact of the proceeding on our reputation. The Consolidated Cases of Bucio and Martinez v. ABM Janitorial Services filed on April 7, 2006, pending in the Superior Court of California, County of San Francisco (the “Bucio case”) The Bucio case is a class action pending in San Francisco Superior Court that alleges we failed to provide legally required meal periods and make additional premium payments for such meal periods, pay split shift premiums when owed, and reimburse janitors for travel expenses. There is also a claim for penalties under the California Labor Code Private Attorneys General Act (“PAGA”). On April 19, 2011, the trial court held a hearing on plaintiffs’ motion to certify the class. At the conclusion of that hearing, the trial court denied plaintiffs’ motion to certify the class. On May 11, 2011, the plaintiffs filed a motion to reconsider, which was denied. The plaintiffs appealed the class certification issues. The trial court stayed the underlying lawsuit pending the decision in the appeal. The Court of Appeal of the State of California, First Appellate District (the “Court of Appeal”), heard oral arguments on November 7, 2017. On December 11, 2017, the Court of Appeal reversed the trial court’s order denying class certification and remanded the matter for certification of a meal period, travel expense reimbursement, and split shift class. The case was remitted to the trial court for further proceedings on class certification, discovery, dispositive motions, and trial. On September 20, 2018, the trial court entered an order defining four certified subclasses of janitors who were employed by the legacy ABM janitorial companies in California at any time between April 7, 2002 and April 30, 2013, on claims based on alleged previous automatic deduction practices for meal breaks, unpaid meal premiums, unpaid split shift premiums, and unreimbursed business expenses, such as mileage reimbursement for use of personal vehicles to travel between worksites. On February 1, 2019, the trial court held that the discovery related to PAGA claims allegedly arising after April 30, 2013 would be stayed until after the class and PAGA claims accruing prior to April 30, 2013 had been tried. The parties engaged in mediation in July 2019, which did not result in settlement of the case. On October 17, 2019, the plaintiffs filed a motion asking the trial court to certify additional classes based on an alleged failure to maintain time records, an alleged failure to provide accurate wage statements, and an alleged practice of combining meal and rest breaks. The trial court denied the plaintiffs’ motion to certify additional classes on December 26, 2019. The case was re-assigned to a new judge on January 6, 2020. ABM filed motions for summary adjudication as to certain of plaintiffs’ class claims, and the trial court denied those motions in November 2020. The parties engaged in another mediation in January 2021, which did not result in a settlement of the case. Plaintiffs filed motions for summary adjudication and/or summary judgment on some claims in December 2020, and a hearing on these motions is currently set for March 17, 2021. The parties are currently engaged in substantive briefing and began expert discovery in January 2021.The expert discovery serves to provide us with detailed information regarding the plaintiffs’ damage calculations. The class action claims accruing prior to April 30, 2013, are currently set for trial on July 12, 2021, although it is unclear whether the trial will proceed at that time in light of the Pandemic and courtroom protocols. Prior to trial, we will have the opportunity to, among other things, seek decertification of the classes, seek interlocutory appellate review, or engage in further mediation if we deem such actions appropriate. We intend to engage in one or more such activities before the trial during the second and/or third quarter.

Income Taxes

Income Taxes	3 Months Ended
	Jan. 31, 2021
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES Our quarterly tax provision is calculated using an estimated annual tax rate that is adjusted for discrete items occurring during the period to arrive at our effective tax rate. During the three months ended January 31, 2021 and 2020, we had effective tax rates of 26.7% and 23.6%, respectively, resulting in provisions for taxes of $27.2 million and $8.6 million, respectively. The difference between the effective tax rate and statutory rate is primarily related to tax credits. The rate difference between periods is driven by increased income in 2021. Our effective tax rates for the three months ended January 31, 2021 and January 31, 2020, were not impacted by any significant discrete items. In response to COVID-19, Congress enacted the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) on March 27, 2020. The CARES Act provides various tax provisions, including payroll tax provisions, which we have evaluated for applicability. Through December 31, 2020, we deferred approximately $132 million of payroll tax, which the CARES Act requires to be remitted by December 31, 2021 and December 31, 2022 in equal parts. The impact of the income tax provisions was not material.

Segment Information

Segment Information	3 Months Ended
	Jan. 31, 2021
Segment Reporting [Abstract]
Segment Information	SEGMENT INFORMATION Our current reportable segments consist of B&I, T&M, Education, Aviation, and Technical Solutions, as further described below. REPORTABLE SEGMENTS AND DESCRIPTIONS B&I B&I, our largest reportable segment, encompasses janitorial, facilities engineering, and parking services for commercial real estate properties, sports and entertainment venues, and traditional hospitals and non-acute healthcare facilities. B&I also provides vehicle maintenance and other services to rental car providers. T&M T&M provides janitorial, facilities engineering, and parking services to industrial and high-tech manufacturing facilities. Education Education delivers janitorial, custodial, landscaping and grounds, facilities engineering, and parking services for public school districts, private schools, colleges, and universities. Aviation Aviation supports airlines and airports with services ranging from parking and janitorial to passenger assistance, catering logistics, air cabin maintenance, and transportation. Technical Solutions Technical Solutions specializes in mechanical and electrical services. These services can also be leveraged for cross-selling across all of our industry groups, both domestically and internationally. Financial Information by Reportable Segment Three Months Ended January 31, (in millions) 2021 2020 Revenues Business & Industry $ 809.4 $ 820.9 Technology & Manufacturing 249.2 233.9 Education 209.4 208.0 Aviation 143.1 238.7 Technical Solutions 113.4 142.0 Elimination of inter-segment revenues (32.1) (30.6) $ 1,492.4 $ 1,612.9 Operating profit (loss) Business & Industry $ 85.7 $ 38.2 Technology & Manufacturing 26.9 16.7 Education 21.5 11.2 Aviation 3.2 5.6 Technical Solutions 6.0 8.3 Government Services (0.1) — Corporate (32.6) (33.3) Adjustment for income from unconsolidated affiliates, included in Aviation and Technical Solutions (0.6) (0.9) Adjustment for tax deductions for energy efficient government buildings, included in Technical Solutions (0.2) — 109.7 45.8 Income from unconsolidated affiliates 0.6 0.9 Interest expense (8.5) (10.2) Income from continuing operations before income taxes $ 101.9 $ 36.5 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.

Basis of Presentation and Sig_2

Basis of Presentation and Significant Accounting Policies (Policies)	3 Months Ended
	Jan. 31, 2021
Accounting Policies [Abstract]
Basis of Presentation	The accompanying unaudited consolidated financial statements have been prepared in accordance with (i) United States generally accepted accounting principles (“U.S. GAAP”) for interim financial information and (ii) the instructions to Form 10-Q and Article 10 of Regulation S-X. In the opinion of our management, our unaudited consolidated financial statements and accompanying notes (the “Financial Statements”) include all normal recurring adjustments that are necessary for the fair statement of the interim periods presented. Interim results of operations are not necessarily indicative of results for the full year. The Financial Statements should be read in conjunction with our audited consolidated financial statements (and notes thereto) in our Annual Report on Form 10-K for the year ended October 31, 2020. Unless otherwise indicated, all references to years are to our fiscal years, which end on October 31.
Discontinued Operations	Following the sale of our Security business in 2015, we record all costs associated with this former business in discontinued operations. Such costs generally relate to litigation we retained and insurance reserves.
Management Reimbursement Revenue by Segment and Remaining Performance Obligations	We operate certain parking facilities under management reimbursement arrangements. Under these arrangements, we manage the parking facilities for management fees and pass through the revenues and expenses associated with the facilities to the owners. At January 31, 2021, performance obligations that were unsatisfied or partially unsatisfied for which we expect to recognize revenue totaled $246.5 million. We expect to recognize revenue on approximately 61% of the remaining performance obligations over the next 12 months, with the remainder recognized thereafter, based on our estimates of project timing. These amounts exclude variable consideration primarily related to: (i) contracts where we have determined that the contract consists of a series of distinct service periods and revenues are based on future performance that cannot be estimated at contract inception; (ii) parking contracts where we and the customer share the gross revenues or operating profit for the location; and (iii) contracts where transaction prices include performance incentives that are based on future performance and therefore cannot be estimated at contract inception. We apply the practical expedient that permits exclusion of information about the remaining performance obligations with original expected durations of one year or less.
Recently Adopted Accounting Standards	The Financial Accounting Standards Board (“FASB”) issued ASU No. 2016-13, Financial Instruments—Credit Losses (Topic 326) in June 2016 and subsequently issued these amendments to the initial guidance: ASU 2018-19, ASU 2019-04, ASU 2019-05, ASU 2019-11, and ASU 2020-03 (collectively, “Topic 326”). Topic 326 replaces the existing incurred loss impairment model with a methodology that incorporates all expected credit loss estimates, resulting in more timely recognition of losses. Under Topic 326, an organization is required to measure all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the reported financial assets. It also requires credit losses related to available-for-sale debt securities to be recorded through an allowance for credit losses. We adopted this standard effective November 1, 2020, on a modified retrospective basis. The asset and liability classes that we have identified to be in the scope of Topic 326 at the time of the adoption are trade accounts receivable, costs incurred in excess of amounts billed, guarantees, reinsurance recoverables, and notes receivable. The adoption of this standard did not have a material impact on our consolidated financial statements. In August 2018, the FASB issued ASU No. 2018-15, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract. This accounting update aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. The guidance also specifies that the presentation of capitalized implementation costs and the related amortization on the balance sheet, income statement, and statement of cash flows should align with the presentation of the hosting (service) element of the arrangement. We adopted this standard effective November 1, 2020, on a prospective basis. The adoption of the standard did not have a material impact on our consolidated financial statements.
Revenues	We have arrangements under various contract types, as described in Note 2, “Basis of Presentation and Significant Accounting Policies,” in our Annual Report on Form 10-K for the year ended October 31, 2020. Certain arrangements involve variable consideration (primarily per transaction fees, reimbursable expenses, and sales-based royalties). We do not estimate the variable consideration for these arrangements; rather, we recognize these variable fees as they are earned. The majority of our contracts include performance obligations that are primarily satisfied over time as we provide the related services. These contract types include: monthly fixed-price; square-foot; cost-plus; work orders; transaction-price; hourly; management reimbursement; leased location; allowance; energy savings contracts; and fixed-price repair and refurbishment contracts, as well as our franchise and royalty fee arrangements. We recognize revenue as the services are performed using a measure of progress that is determined by the contract type. Generally, most of our contracts are cancelable by either party without a substantive penalty, and the majority have a notification period of 30 to 60 days. The timing of revenue recognition, billings, and cash collections results in contract assets and contract liabilities, as further explained below. The timing of revenue recognition may differ from the timing of invoicing to customers. Contract assets primarily consist of billed trade receivables, unbilled trade receivables, and costs incurred in excess of amounts billed. Billed and unbilled trade receivables represent amounts from work completed in which we have an unconditional right to bill our customer. Costs incurred in excess of amounts billed typically arise when the revenue recognized on projects exceeds the amount billed to the customer. These amounts are transferred to billed trade receivables when the rights become unconditional. Contract assets also include the capitalization of incremental costs of obtaining a contract with a customer, primarily commissions. Commissions expense is recognized on a straight-line basis over a weighted average expected customer relationship period. Contract liabilities consist of deferred revenue and advance payments and billings in excess of revenue recognized. We generally classify contract liabilities as current since the related contracts are generally for a period of one year or less. Contract liabilities decrease as we recognize revenue from the satisfaction of the related performance obligation.

Basis of Presentation and Sig_3

Basis of Presentation and Significant Accounting Policies (Tables)	3 Months Ended
	Jan. 31, 2021
Accounting Policies [Abstract]
Schedule of Management Reimbursement Revenue by Segment	These revenues and expenses are reported in equal amounts as costs reimbursed from our managed locations: Three Months Ended January 31, (in millions) 2021 2020 Business & Industry $ 43.4 $ 73.7 Aviation 13.7 25.9 Total $ 57.0 $ 99.6

Revenues (Tables)

Revenues (Tables)	3 Months Ended
	Jan. 31, 2021
Revenue from Contract with Customer [Abstract]
Revenue from External Customers by Major Service Lines and Segments	Three Months Ended January 31, 2021 (in millions) B&I T&M Education Aviation Technical Total Major Service Line Janitorial (1) $ 650.4 $ 196.9 $ 184.8 $ 29.1 $ — $ 1,061.2 Parking (2) 69.0 11.7 0.2 55.4 — 136.2 Facility Services (3) 89.9 40.6 24.5 6.9 — 161.9 Building & Energy Solutions (4) — — — — 113.4 113.4 Airline Services (5) 0.1 — — 51.7 — 51.8 $ 809.4 $ 249.2 $ 209.4 $ 143.1 $ 113.4 $ 1,524.5 Elimination of inter-segment revenues (32.1) Total $ 1,492.4 Three Months Ended January 31, 2020 (in millions) B&I T&M Education Aviation Technical Total Major Service Line Janitorial (1) $ 593.5 $ 185.6 $ 186.2 $ 34.6 $ — $ 1,000.0 Parking (2) 125.9 8.1 0.7 84.9 — 219.6 Facility Services (3) 101.4 40.2 21.0 11.7 — 174.3 Building & Energy Solutions (4) — — — — 142.0 142.0 Airline Services (5) 0.1 — — 107.5 — 107.6 $ 820.9 $ 233.9 $ 208.0 $ 238.7 $ 142.0 $ 1,643.6 Elimination of inter-segment revenues (30.6) Total $ 1,612.9 (1) Janitorial arrangements provide a wide range of essential cleaning services for commercial office buildings, airports and other transportation centers, educational institutions, government buildings, health facilities, industrial buildings, retail stores, and stadiums and arenas. These arrangements are often structured as monthly fixed-price, square-foot, cost-plus, and work order contracts. (2) Parking arrangements provide parking and transportation services for clients at various locations, including airports and other transportation centers, commercial office buildings, educational institutions, health facilities, hotels, and stadiums and arenas. These arrangements are structured as management reimbursement, leased location, and allowance contracts. Certain of these arrangements are considered service concession agreements and are accounted for under the guidance of ASU 2017-10, Service Concession Arrangements (Topic 853): Determining the Customer of the Operation Services ; accordingly, rent expense related to these arrangements is recorded as a reduction of the related parking service revenues. (3) Facility Services arrangements provide onsite mechanical engineering and technical services and solutions relating to a broad range of facilities and infrastructure systems that are designed to extend the useful life of facility fixed assets, improve equipment operating efficiencies, reduce energy consumption, lower overall operational costs for clients, and enhance the sustainability of client locations. These arrangements are generally structured as monthly fixed-price, cost-plus, and work order contracts. (4) Building & Energy Solutions arrangements provide custom energy solutions, electrical, HVAC, lighting, and other general maintenance and repair services for clients in the public and private sectors and are generally structured as Energy Savings, Fixed-Price Repair, and Refurbishment contracts. We also franchise certain operations under franchise agreements relating to our Linc Network and TEGG brands, pursuant to franchise contracts. (5) Airline Services arrangements support airlines and airports with services such as passenger assistance, catering logistics, and airplane cabin maintenance. These arrangements are often structured as monthly fixed-price, cost-plus, transaction price, and hourly contracts.
Contract with Customer, Asset and Liability	The following tables present the balances in our contract assets and contract liabilities: (in millions) January 31, 2021 October 31, 2020 Contract assets Billed trade receivables (1) $ 896.8 $ 835.8 Unbilled trade receivables (1) 58.3 53.9 Costs incurred in excess of amounts billed (2) 38.6 52.2 Capitalized commissions (3) 24.9 25.2 (1) Included in trade accounts receivable, net, on the unaudited Consolidated Balance Sheets. The fluctuations correlate directly to the execution of new customer contracts and to invoicing and collections from customers in the normal course of business. (2) Fluctuation is primarily due to the timing of payments on our contracts measured using the cost-to-cost method of revenue recognition. (3) Included in other current assets and other noncurrent assets on the unaudited Consolidated Balance Sheets. During the three months ended January 31, 2021, we capitalized $3.0 million of new costs and amortized $3.3 million of previously capitalized costs. There was no impairment loss recorded on the costs capitalized. (in millions) Three Months Ended Contract liabilities (1) Balance at beginning of period $ 36.4 Additional contract liabilities 31.5 Recognition of deferred revenue (14.8) Balance at end of period $ 53.1

Net Income (Loss) Per Common Sh

Net Income (Loss) Per Common Share (Tables)	3 Months Ended
	Jan. 31, 2021
Earnings Per Share [Abstract]
Schedule of Basic and Diluted Net Income Per Common Share Calculations	Basic and Diluted Net Income Per Common Share Calculations Three Months Ended January 31, (in millions, except per share amounts) 2021 2020 Income from continuing operations $ 74.6 $ 27.9 Income from discontinued operations, net of taxes — 0.1 Net income $ 74.6 $ 28.0 Weighted-average common and common equivalent shares 67.2 66.9 Effect of dilutive securities Restricted stock units 0.2 0.1 Stock options 0.1 0.1 Performance shares 0.2 0.1 Weighted-average common and common equivalent shares 67.6 67.2 Net income per common share — Basic Income from continuing operations $ 1.11 $ 0.42 Income from discontinued operations — — Net income $ 1.11 $ 0.42 Net income per common share — Diluted Income from continuing operations $ 1.10 $ 0.41 Income from discontinued operations — — Net income $ 1.10 $ 0.42
Schedule of Anti-Dilutive Outstanding Stock Awards Issued Under Share-Based Compensation Plans	Anti-Dilutive Outstanding Stock Awards Issued Under Share-Based Compensation Plans Three Months Ended January 31, (in millions) 2021 2020 Anti-dilutive 0.1 0.2

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	3 Months Ended
	Jan. 31, 2021
Fair Value Disclosures [Abstract]
Schedule of Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis	Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis (in millions) Fair Value Hierarchy January 31, 2021 October 31, 2020 Cash and cash equivalents (1) 1 $ 378.3 $ 394.2 Insurance deposits (2) 1 0.7 0.7 Assets held in funded deferred compensation plan (3) 1 2.8 2.6 Credit facility (4) 2 695.3 725.3 Interest rate swap liabilities (5) 2 12.7 15.5 (1) Cash and cash equivalents are stated at nominal value, which equals fair value. (2) Represents restricted deposits that are used to collateralize our insurance obligations and are stated at nominal value, which equals fair value. These insurance deposits are included in “Other noncurrent assets” on the accompanying unaudited Consolidated Balance Sheets. See Note 6, “Insurance,” for further information. (3) Represents investments held in a Rabbi trust associated with one of our deferred compensation plans, which we include in “Other noncurrent assets” on the accompanying unaudited Consolidated Balance Sheets. The fair value of the assets held in the funded deferred compensation plan is based on quoted market prices. (4) Represents gross outstanding borrowings under our syndicated line of credit and term loan. Due to variable interest rates, the carrying value of outstanding borrowings under our line of credit and term loan approximates the fair value. See Note 7, “Credit Facility,” for further information. (5) Represents interest rate swap derivatives designated as cash flow hedges. The fair values of the interest rate swaps are estimated based on the present value of the difference between expected cash flows calculated at the contracted interest rates and the expected cash flows at current market interest rates using observable benchmarks for the London Interbank Offered Rate (“LIBOR”) forward rates at the end of the period. At January 31, 2021 and October 31, 2020, our interest rate swaps are included in “Other noncurrent liabilities” on the accompanying unaudited Consolidated Balance Sheets. See Note 7, “Credit Facility,” for further information.

Insurance (Tables)

Insurance (Tables)	3 Months Ended
	Jan. 31, 2021
Insurance [Abstract]
Schedule of Insurance Related Balances and Activity	Insurance Related Balances and Activity (in millions) January 31, 2021 October 31, 2020 Insurance claim reserves, excluding medical and dental $ 498.6 $ 504.9 Medical and dental claim reserves 18.3 16.6 Insurance recoverables 70.2 70.1
Schedule of Instruments Used to Collateralize Insurance Obligations	Instruments Used to Collateralize Our Insurance Obligations (in millions) January 31, 2021 October 31, 2020 Standby letters of credit $ 141.4 $ 143.6 Surety bonds 85.7 82.6 Restricted insurance deposits 0.7 0.7 Total $ 227.8 $ 226.9

Credit Facility (Tables)

Credit Facility (Tables)	3 Months Ended
	Jan. 31, 2021
Debt Disclosure [Abstract]
Schedule of Credit Facility Information	Credit Facility Information (in millions) January 31, 2021 October 31, 2020 Current portion of long-term debt Gross term loan $ 120.0 $ 120.0 Unamortized deferred financing costs (3.1) (3.3) Current portion of term loan $ 116.9 $ 116.7 Long-term debt Gross term loan $ 530.0 $ 560.0 Unamortized deferred financing costs (1.5) (2.3) Total noncurrent portion of term loan 528.5 557.7 Revolving line of credit (1)(2) 45.3 45.3 Long-term debt $ 573.8 $ 603.0 (1) Standby letters of credit amounted to $151.0 million at January 31, 2021. (2) At January 31, 2021, we had borrowing capacity of $599.4 million, reflecting covenant restrictions.
Schedule of Term Loan Maturities	Term Loan Maturities During the three months ended January 31, 2021, we made principal payments under the term loan of $30.0 million. As of January 31, 2021, the following principal payments are required under the term loan. (in millions) 2021 2022 Debt maturities $ 90.0 $ 560.0
Schedule of Interest Rate Swap Information	Notional Amount Fixed Interest Rate Effective Date Maturity Date $ 90.0 million 2.83% November 1, 2018 April 30, 2021 $ 90.0 million 2.84% November 1, 2018 October 31, 2021 $ 130.0 million 2.86% November 1, 2018 April 30, 2022 $ 130.0 million 2.84% November 1, 2018 September 1, 2022

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Jan. 31, 2021
Segment Reporting [Abstract]
Schedule of Financial Information by Reportable Segment	Our current reportable segments consist of B&I, T&M, Education, Aviation, and Technical Solutions, as further described below. REPORTABLE SEGMENTS AND DESCRIPTIONS B&I B&I, our largest reportable segment, encompasses janitorial, facilities engineering, and parking services for commercial real estate properties, sports and entertainment venues, and traditional hospitals and non-acute healthcare facilities. B&I also provides vehicle maintenance and other services to rental car providers. T&M T&M provides janitorial, facilities engineering, and parking services to industrial and high-tech manufacturing facilities. Education Education delivers janitorial, custodial, landscaping and grounds, facilities engineering, and parking services for public school districts, private schools, colleges, and universities. Aviation Aviation supports airlines and airports with services ranging from parking and janitorial to passenger assistance, catering logistics, air cabin maintenance, and transportation. Technical Solutions Technical Solutions specializes in mechanical and electrical services. These services can also be leveraged for cross-selling across all of our industry groups, both domestically and internationally. Financial Information by Reportable Segment Three Months Ended January 31, (in millions) 2021 2020 Revenues Business & Industry $ 809.4 $ 820.9 Technology & Manufacturing 249.2 233.9 Education 209.4 208.0 Aviation 143.1 238.7 Technical Solutions 113.4 142.0 Elimination of inter-segment revenues (32.1) (30.6) $ 1,492.4 $ 1,612.9 Operating profit (loss) Business & Industry $ 85.7 $ 38.2 Technology & Manufacturing 26.9 16.7 Education 21.5 11.2 Aviation 3.2 5.6 Technical Solutions 6.0 8.3 Government Services (0.1) — Corporate (32.6) (33.3) Adjustment for income from unconsolidated affiliates, included in Aviation and Technical Solutions (0.6) (0.9) Adjustment for tax deductions for energy efficient government buildings, included in Technical Solutions (0.2) — 109.7 45.8 Income from unconsolidated affiliates 0.6 0.9 Interest expense (8.5) (10.2) Income from continuing operations before income taxes $ 101.9 $ 36.5

The Company and Nature of Ope_2

The Company and Nature of Operations - Narrative (Details)	3 Months Ended
	Jan. 31, 2021segmentindustry_group
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of industry groups | industry_group	4
Number of technical solutions segments | segment	1

Basis of Presentation and Sig_4

Basis of Presentation and Significant Accounting Policies - Management Reimbursement Revenue (Details) - USD ($) $ in Millions	3 Months Ended
	Jan. 31, 2021	Jan. 31, 2020
Segment Reporting Information [Line Items]
Parking facility management fee revenue	$ 1,492.4	$ 1,612.9
Management Reimbursement Revenue
Segment Reporting Information [Line Items]
Parking facility management fee revenue	57	99.6
Management Reimbursement Revenue | Business & Industry
Segment Reporting Information [Line Items]
Parking facility management fee revenue	43.4	73.7
Management Reimbursement Revenue | Aviation
Segment Reporting Information [Line Items]
Parking facility management fee revenue	$ 13.7	$ 25.9

Revenues - Disaggregation of Re

Revenues - Disaggregation of Revenue (Details) - USD ($) $ in Millions	3 Months Ended
	Jan. 31, 2021	Jan. 31, 2020
Revenue from External Customer [Line Items]
Revenues	$ 1,492.4	$ 1,612.9
Operating Segments
Revenue from External Customer [Line Items]
Revenues	1,524.5	1,643.6
Operating Segments | Business & Industry
Revenue from External Customer [Line Items]
Revenues	809.4	820.9
Operating Segments | Technology & Manufacturing
Revenue from External Customer [Line Items]
Revenues	249.2	233.9
Operating Segments | Education
Revenue from External Customer [Line Items]
Revenues	209.4	208
Operating Segments | Aviation
Revenue from External Customer [Line Items]
Revenues	143.1	238.7
Operating Segments | Technical Solutions
Revenue from External Customer [Line Items]
Revenues	113.4	142
Operating Segments | Janitorial
Revenue from External Customer [Line Items]
Revenues	1,061.2	1,000
Operating Segments | Janitorial | Business & Industry
Revenue from External Customer [Line Items]
Revenues	650.4	593.5
Operating Segments | Janitorial | Technology & Manufacturing
Revenue from External Customer [Line Items]
Revenues	196.9	185.6
Operating Segments | Janitorial | Education
Revenue from External Customer [Line Items]
Revenues	184.8	186.2
Operating Segments | Janitorial | Aviation
Revenue from External Customer [Line Items]
Revenues	29.1	34.6
Operating Segments | Janitorial | Technical Solutions
Revenue from External Customer [Line Items]
Revenues	0	0
Operating Segments | Parking
Revenue from External Customer [Line Items]
Revenues	136.2	219.6
Operating Segments | Parking | Business & Industry
Revenue from External Customer [Line Items]
Revenues	69	125.9
Operating Segments | Parking | Technology & Manufacturing
Revenue from External Customer [Line Items]
Revenues	11.7	8.1
Operating Segments | Parking | Education
Revenue from External Customer [Line Items]
Revenues	0.2	0.7
Operating Segments | Parking | Aviation
Revenue from External Customer [Line Items]
Revenues	55.4	84.9
Operating Segments | Parking | Technical Solutions
Revenue from External Customer [Line Items]
Revenues	0	0
Operating Segments | Facility Services
Revenue from External Customer [Line Items]
Revenues	161.9	174.3
Operating Segments | Facility Services | Business & Industry
Revenue from External Customer [Line Items]
Revenues	89.9	101.4
Operating Segments | Facility Services | Technology & Manufacturing
Revenue from External Customer [Line Items]
Revenues	40.6	40.2
Operating Segments | Facility Services | Education
Revenue from External Customer [Line Items]
Revenues	24.5	21
Operating Segments | Facility Services | Aviation
Revenue from External Customer [Line Items]
Revenues	6.9	11.7
Operating Segments | Facility Services | Technical Solutions
Revenue from External Customer [Line Items]
Revenues	0	0
Operating Segments | Building & Energy Solutions
Revenue from External Customer [Line Items]
Revenues	113.4	142
Operating Segments | Building & Energy Solutions | Business & Industry
Revenue from External Customer [Line Items]
Revenues	0	0
Operating Segments | Building & Energy Solutions | Technology & Manufacturing
Revenue from External Customer [Line Items]
Revenues	0	0
Operating Segments | Building & Energy Solutions | Education
Revenue from External Customer [Line Items]
Revenues	0	0
Operating Segments | Building & Energy Solutions | Aviation
Revenue from External Customer [Line Items]
Revenues	0	0
Operating Segments | Building & Energy Solutions | Technical Solutions
Revenue from External Customer [Line Items]
Revenues	113.4	142
Operating Segments | Airline Services
Revenue from External Customer [Line Items]
Revenues	51.8	107.6
Operating Segments | Airline Services | Business & Industry
Revenue from External Customer [Line Items]
Revenues	0.1	0.1
Operating Segments | Airline Services | Technology & Manufacturing
Revenue from External Customer [Line Items]
Revenues	0	0
Operating Segments | Airline Services | Education
Revenue from External Customer [Line Items]
Revenues	0	0
Operating Segments | Airline Services | Aviation
Revenue from External Customer [Line Items]
Revenues	51.7	107.5
Operating Segments | Airline Services | Technical Solutions
Revenue from External Customer [Line Items]
Revenues	0	0
Intersegment Eliminations
Revenue from External Customer [Line Items]
Revenues	$ (32.1)	$ (30.6)

Revenues - Remaining Performanc

Revenues - Remaining Performance Obligations Narrative (Details) $ in Millions	Jan. 31, 2021USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-02-01
Revenue from Contract with Customer [Abstract]
Revenue, remaining performance obligation, amount	$ 246.5
Revenue, remaining performance obligation, percentage	61.00%
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, period	12 months

Revenues - Contract with Custom

Revenues - Contract with Customer, Asset and Liability (Details) - USD ($)	3 Months Ended
	Jan. 31, 2021	Oct. 31, 2020
Revenue from Contract with Customer [Abstract]
Billed trade receivables	$ 896,800,000	$ 835,800,000
Unbilled trade receivables	58,300,000	53,900,000
Costs incurred in excess of amounts billed	38,600,000	52,200,000
Capitalized commissions	24,900,000	$ 25,200,000
Capitalized contract price	3,000,000
Capitalized contract cost, amortization	(3,300,000)
Capitalized contract cost, impairment loss	0
Contract with Customer, Liabilities [Roll Forward]
Contract liabilities, balance at beginning of period	36,400,000
Additional contract liabilities	31,500,000
Recognition of deferred revenue	(14,800,000)
Contract liabilities, balance at end of period	$ 53,100,000

Net Income (Loss) Per Common _2

Net Income (Loss) Per Common Share - Calculations of Basic and Diluted Net Income Per Common Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Jan. 31, 2021	Jan. 31, 2020
Schedule of Earnings Per Share, Basic and Diluted, by Common Class [Line Items]
Income from continuing operations	$ 74.6	$ 27.9
Income from discontinued operations, net of taxes	0	0.1
Net income	$ 74.6	$ 28
Weighted-average common and common equivalent shares outstanding — Basic (in shares)	67.2	66.9
Effect of dilutive securities
Weighted-average common and common equivalent shares outstanding — Diluted (in shares)	67.6	67.2
Net income per common share — Basic
Income from continuing operations (in usd per share)	$ 1.11	$ 0.42
Income from discontinued operations (in usd per share)	0	0
Net income (in usd per share)	1.11	0.42
Net income per common share — Diluted
Income from continuing operations (in usd per share)	1.10	0.41
Income from discontinued operations (in usd per share)	0	0
Net income (in usd per share)	$ 1.10	$ 0.42
Restricted stock units
Effect of dilutive securities
Effect of dilutive securities (in shares)	0.2	0.1
Stock options
Effect of dilutive securities
Effect of dilutive securities (in shares)	0.1	0.1
Performance shares
Effect of dilutive securities
Effect of dilutive securities (in shares)	0.2	0.1

Net Income (Loss) Per Common _3

Net Income (Loss) Per Common Share - Anti-Dilutive Outstanding Stock Awards Issued Under Share-Based Compensation Plans (Details) - shares shares in Millions	3 Months Ended
	Jan. 31, 2021	Jan. 31, 2020
Earnings Per Share [Abstract]
Anti-dilutive (in shares)	0.1	0.2

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Financial Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Millions	Jan. 31, 2021	Oct. 31, 2020
Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	$ 378.3	$ 394.2
Insurance deposits	0.7	0.7
Assets held in funded deferred compensation plan	2.8	2.6
Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Credit facility	695.3	725.3
Interest rate swap liabilities	$ 12.7	$ 15.5

Insurance - Narrative (Details)

Insurance - Narrative (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Jan. 31, 2021	Oct. 31, 2020
Schedule of Other Liabilities [Line Items]
Insurance policy coverage, general and automobile liability losses	$ 200
Insurance policy coverage, property damage	75
Decrease in total reserve claims	14.4
Change in case reserves plus IBNR Claims — prior years	11.4	$ 6.6
Minimum
Schedule of Other Liabilities [Line Items]
Self insurance retention amount per-claim	1
Primary policy limit	1
Maximum
Schedule of Other Liabilities [Line Items]
Self insurance retention amount per-claim	1.5
Primary policy limit	5
Self insurance retention amount per-claim, medical plan	$ 0.5

Insurance - Insurance Related B

Insurance - Insurance Related Balances and Activity (Details) - USD ($) $ in Millions	Jan. 31, 2021	Oct. 31, 2020
Liability for Claims and Claims Adjustment Expense [Line Items]
Insurance recoverables	$ 70.2	$ 70.1
Insurance claim reserves, excluding medical and dental
Liability for Claims and Claims Adjustment Expense [Line Items]
Insurance claim reserves	498.6	504.9
Medical and dental claim reserves
Liability for Claims and Claims Adjustment Expense [Line Items]
Insurance claim reserves	$ 18.3	$ 16.6

Insurance - Instruments Used to

Insurance - Instruments Used to Collateralize Insurance Obligations (Details) - USD ($) $ in Millions	Jan. 31, 2021	Oct. 31, 2020
Letters Of Credit [Line Items]
Instruments used to collateralize insurance obligations	$ 227.8	$ 226.9
Standby letters of credit
Letters Of Credit [Line Items]
Instruments used to collateralize insurance obligations	141.4	143.6
Surety bonds
Letters Of Credit [Line Items]
Instruments used to collateralize insurance obligations	85.7	82.6
Restricted insurance deposits
Letters Of Credit [Line Items]
Instruments used to collateralize insurance obligations	$ 0.7	$ 0.7

Credit Facility - Narrative (De

Credit Facility - Narrative (Details)	May 28, 2020USD ($)	Sep. 01, 2017USD ($)	Jan. 31, 2021	Sep. 01, 2018USD ($)	Aug. 31, 2017USD ($)
Minimum | Revolving Credit Facility
Line of Credit Facility [Line Items]
Commitment fee percentage on unused portion of the Facility	0.20%
Maximum | Revolving Credit Facility
Line of Credit Facility [Line Items]
Commitment fee percentage on unused portion of the Facility	0.45%
Prior Credit Facility | Revolving Credit Facility | Line of Credit
Line of Credit Facility [Line Items]
Line of credit facility, borrowing capacity					$ 800,000,000
Credit Facility
Line of Credit Facility [Line Items]
Line of credit facility, term		5 years
Fixed charge coverage ratio	1.25
Debt instrument, covenant, liquidity required, minimum	$ 250,000,000
Weighted average interest rate			2.39%
Deferred financing costs	$ 4,600,000	$ 18,700,000
Credit Facility | Covenant Period, Quarter Ending October 2022
Line of Credit Facility [Line Items]
Leverage ratio	4
Credit Facility | Line of Credit
Line of Credit Facility [Line Items]
Deferred financing costs		5,200,000
Credit Facility | Term Loan
Line of Credit Facility [Line Items]
Debt instrument, face amount		800,000,000
Deferred financing costs		13,400,000
Credit Facility | Revolving Credit Facility | Line of Credit
Line of Credit Facility [Line Items]
Line of credit facility, borrowing capacity		900,000,000
Borrowing capacity after initial year of term				$ 800,000,000
Credit Facility | Standby Letters of Credit
Line of Credit Facility [Line Items]
Line of credit facility, borrowing capacity		300,000,000
Credit Facility | Swing Line Loan
Line of Credit Facility [Line Items]
Line of credit facility, borrowing capacity		$ 75,000,000
Credit Facility | Minimum | Revolving Credit Facility
Line of Credit Facility [Line Items]
Commitment fee percentage on unused portion of the Facility		0.20%
Credit Facility | Maximum | Revolving Credit Facility
Line of Credit Facility [Line Items]
Commitment fee percentage on unused portion of the Facility		0.35%
Credit Facility | Eurodollar | Minimum
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.00%	1.00%
Credit Facility | Eurodollar | Maximum
Line of Credit Facility [Line Items]
Basis spread on variable rate	2.75%	2.25%
Credit Facility | Base Rate | Minimum
Line of Credit Facility [Line Items]
Basis spread on variable rate	0.00%	0.00%
Credit Facility | Base Rate | Maximum
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.75%	1.25%

Credit Facility - Credit Facili

Credit Facility - Credit Facility Information (Details) - USD ($) $ in Millions	Jan. 31, 2021	Oct. 31, 2020
Current portion of long-term debt
Gross term loan	$ 120	$ 120
Unamortized deferred financing costs	(3.1)	(3.3)
Current portion of term loan	116.9	116.7
Long-term debt
Gross term loan	530	560
Unamortized deferred financing costs	(1.5)	(2.3)
Total noncurrent portion of term loan	528.5	557.7
Line of credit	45.3	45.3
Long-term debt	573.8	$ 603
Standby letters of credit	151
Borrowing capacity	$ 599.4

Credit Facility - Term Loan Mat

Credit Facility - Term Loan Maturities (Details) $ in Millions	3 Months Ended
	Jan. 31, 2021USD ($)
Debt Instrument [Line Items]
Debt instrument, periodic payment, principal	$ 30
Term Loan
Term Loan Maturities
Debt maturities, 2021	90
Debt maturities, 2022	$ 560

Credit Facility - Interest Rate

Credit Facility - Interest Rate Swaps (Details)	Nov. 01, 2018USD ($)
Interest Rate Swap, Maturity April 30, 2021
Line of Credit Facility [Line Items]
Notional Amount	$ 90,000,000
Fixed Interest Rate	2.83%
Interest Rate Swap, Maturity October 31, 2021
Line of Credit Facility [Line Items]
Notional Amount	$ 90,000,000
Fixed Interest Rate	2.84%
Interest Rate Swap, Maturity April 30, 2022
Line of Credit Facility [Line Items]
Notional Amount	$ 130,000,000
Fixed Interest Rate	2.86%
Interest Rate Swap, Maturity September 1, 2022
Line of Credit Facility [Line Items]
Notional Amount	$ 130,000,000
Fixed Interest Rate	2.84%

Credit Facility - Interest Ra_2

Credit Facility - Interest Rate Swaps Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Jan. 31, 2021	Jan. 31, 2020
Line of Credit Facility [Line Items]
Interest expense	$ 8.5	$ 10.2
Interest rate cash flow hedge gain (loss) to be reclassified during next 12 months, net	(4.3)
Tax to be reclassified during the next 12 months	(1.4)
Accumulated Gain (Loss), Cash Flow Hedge, Including Noncontrolling Interest
Line of Credit Facility [Line Items]
Net loss from cash flow hedges recorded in accumulated other comprehensive loss, net of tax	(2.5)	(3.3)
Tax related to amounts in accumulated other comprehensive loss	(0.5)	(0.9)
Interest expense	1.2	1.2
Interest expense, net of taxes	$ 0.4	$ 0.4

Commitments and Contingencies -

Commitments and Contingencies - Narrative (Details)	Sep. 20, 2018subclass	Jan. 31, 2021USD ($)
Loss Contingencies [Line Items]
Standby letters of credit		$ 151,000,000
Surety bonds		640,600,000
Energy Savings Contracts
Loss Contingencies [Line Items]
Guarantee obligation		173,800,000
Minimum
Loss Contingencies [Line Items]
Amount of reasonably possible loss		0
Maximum
Loss Contingencies [Line Items]
Amount of reasonably possible loss		5,000,000
Bucio
Loss Contingencies [Line Items]
Loss contingency, number of certified subclasses | subclass	4
Pending Litigation
Loss Contingencies [Line Items]
Loss contingency amount accrued for probable losses		$ 13,800,000

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Jan. 31, 2021	Jan. 31, 2020
Income Tax Disclosure [Abstract]
Effective income tax rate (percent)	26.70%	23.60%
Income tax provision	$ (27.2)	$ (8.6)
Social security tax, employer, deferral, CARES Act	$ 132

Segment Information - Financial

Segment Information - Financial Information by Reportable Segment (Details) - USD ($) $ in Millions	3 Months Ended
	Jan. 31, 2021	Jan. 31, 2020
Revenues
Revenues	$ 1,492.4	$ 1,612.9
Operating profit (loss)
Operating profit (loss)	109.7	45.8
Income from unconsolidated affiliates	0.6	0.9
Interest expense	(8.5)	(10.2)
Income from continuing operations before income taxes	101.9	36.5
Operating Segments
Revenues
Revenues	1,524.5	1,643.6
Elimination of inter-segment revenues
Revenues
Revenues	(32.1)	(30.6)
Corporate
Operating profit (loss)
Operating profit (loss)	(32.6)	(33.3)
Segment Reconciling Items
Operating profit (loss)
Income from unconsolidated affiliates	(0.6)	(0.9)
Adjustment for tax deductions for energy efficient government buildings, included in Technical Solutions	(0.2)	0
Business & Industry | Operating Segments
Revenues
Revenues	809.4	820.9
Operating profit (loss)
Operating profit (loss)	85.7	38.2
Technology & Manufacturing | Operating Segments
Revenues
Revenues	249.2	233.9
Operating profit (loss)
Operating profit (loss)	26.9	16.7
Education | Operating Segments
Revenues
Revenues	209.4	208
Operating profit (loss)
Operating profit (loss)	21.5	11.2
Aviation | Operating Segments
Revenues
Revenues	143.1	238.7
Operating profit (loss)
Operating profit (loss)	3.2	5.6
Technical Solutions | Operating Segments
Revenues
Revenues	113.4	142
Operating profit (loss)
Operating profit (loss)	6	8.3
Government Services | Operating Segments
Operating profit (loss)
Operating profit (loss)	$ (0.1)	$ 0