ABM Industries (ABM) 10-Q6 Jun 242024 Q2 Quarterly reportFinancial data

Company Profile

Cover

Cover - shares	6 Months Ended
Cover - shares	Apr. 30, 2024	Jun. 05, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Apr. 30, 2024
Document Transition Report	false
Entity File Number	1-8929
Entity Registrant Name	ABM INDUSTRIES INC
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	94-1369354
Entity Address, Address Line One	One Liberty Plaza
Entity Address, Address Line Two	7th Floor
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10006
City Area Code	212
Local Phone Number	297-0200
Title of 12(b) Security	Common Stock, $0.01 par value
Trading Symbol	ABM
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		62,763,623
Entity Central Index Key	0000771497
Current Fiscal Year End Date	--10-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Amendment Flag	false

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Apr. 30, 2024	Oct. 31, 2023
Current assets
Cash and cash equivalents	$ 60.7	$ 69.5
Trade accounts receivable, net of allowances of $25.4 and $25.0 at April 30, 2024 and October 31, 2023, respectively	1,313.4	1,365
Costs incurred in excess of amounts billed	152.2	139.2
Prepaid expenses	90.7	78.5
Other current assets	80.9	58.6
Total current assets	1,697.9	1,710.7
Other investments	30	28.8
Property, plant and equipment, net of accumulated depreciation of $347.4 and $326.5 at April 30, 2024 and October 31, 2023, respectively	145.1	131.5
Right-of-use assets	108.4	113.4
Other intangible assets, net of accumulated amortization of $466.8 and $438.3 at April 30, 2024 and October 31, 2023, respectively	274.8	302.9
Goodwill	2,493.3	2,491.3
Other noncurrent assets	180.1	155
Total assets	4,929.5	4,933.7
Current liabilities
Current portion of debt, net	31.6	31.5
Trade accounts payable	253.6	299.1
Accrued compensation	223.6	249.7
Accrued taxes — other than income	64.9	58.9
Deferred revenue	101.2	90.1
Insurance claims	196.3	177
Income taxes payable	12.3	17.9
Current portion of lease liabilities	28.2	32.5
Other accrued liabilities	267.3	261.2
Total current liabilities	1,179.1	1,217.9
Long-term debt, net	1,239	1,279.8
Long-term lease liabilities	97	98.8
Deferred income tax liability, net	80.9	85
Noncurrent insurance claims	418	387.5
Other noncurrent liabilities	68.1	61.1
Noncurrent income taxes payable	3.8	3.7
Total liabilities	3,085.9	3,133.8
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; 62,756,634 and 62,847,387 shares issued and outstanding at April 30, 2024 and October 31, 2023, respectively	0.6	0.6
Additional paid-in capital	544	558.9
Accumulated other comprehensive loss, net of taxes	(9.8)	(9.2)
Retained earnings	1,308.8	1,249.6
Total stockholders’ equity	1,843.6	1,799.9
Total liabilities and stockholders’ equity	$ 4,929.5	$ 4,933.7

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Apr. 30, 2024	Oct. 31, 2023
Statement of Financial Position [Abstract]
Trade accounts receivable, allowance	$ 25.4	$ 25
Property, plant and equipment, accumulated depreciation	347.4	326.5
Other intangible assets, accumulated amortization	$ 466.8	$ 438.3
Preferred stock, par value (in USD per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	500,000	500,000
Preferred stock, shares issued (in shares)	0	0
Common stock, par value (in USD per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Common stock, shares issued (in shares)	62,756,634	62,847,387
Common stock, shares outstanding (in shares)	62,756,634	62,847,387

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2024	Apr. 30, 2023
Income Statement [Abstract]
Revenues	$ 2,018.2	$ 1,984	$ 4,087.8	$ 3,975.3
Operating expenses	1,763.5	1,715.2	3,589.8	3,465
Selling, general and administrative expenses	159.9	156.6	314.5	307.2
Amortization of intangible assets	13.6	19.5	28.2	39
Operating profit	81.3	92.7	155.4	164.1
Income from unconsolidated affiliates	1.7	0.6	3	1.7
Interest expense	(20.6)	(21.1)	(41.9)	(40.9)
Income before income taxes	62.4	72.3	116.4	125
Income tax provision	(18.7)	(20.4)	(28)	(34.5)
Net income	43.8	51.9	88.4	90.4
Other comprehensive income
Interest rate swaps	10.3	(2.5)	(5.7)	(15.6)
Foreign currency translation and other	(1.7)	2.3	3.7	12.8
Income tax (provision) benefit	(2.7)	0.7	1.5	4.3
Comprehensive income	$ 49.7	$ 52.4	$ 87.9	$ 92
Net income per common share
Basic (in USD per share)	$ 0.69	$ 0.78	$ 1.40	$ 1.36
Diluted (in USD per share)	$ 0.69	$ 0.78	$ 1.39	$ 1.35
Weighted-average common and common equivalent shares outstanding
Basic (in shares)	63.3	66.4	63.4	66.4
Diluted (in shares)	63.5	66.7	63.7	66.7

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands		Total	Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Loss, Net of Taxes	Retained Earnings
Balance, beginning of period (in shares) at Oct. 31, 2022			65,600,000
Balance, beginning of period at Oct. 31, 2022			$ 700	$ 675,500	$ (16,200)	$ 1,057,200
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock issued (taxes withheld) under employee stock purchase and share-based compensation plans, net (in shares)			600,000
Stock issued (taxes withheld) under employee stock purchase and share-based compensation plans, net			$ 0	(10,900)
Share-based compensation expense				14,600
Repurchase of common stock, including excise taxes (in shares)		0	0
Repurchase of common stock, including excise taxes			$ 0	0
Other comprehensive income (loss)					1,600
Net income		$ 90,400				90,400
Dividends
Common stock	[1]					(29,000)
Stock issued under share-based compensation plans						(1,100)
Balance, end of period (in shares) at Apr. 30, 2023			66,100,000
Balance, end of period at Apr. 30, 2023		1,782,800	$ 700	679,200	(14,600)	1,117,500
Balance, beginning of period (in shares) at Jan. 31, 2023			66,100,000
Balance, beginning of period at Jan. 31, 2023		1,782,800	$ 700	670,700	(15,100)	1,080,300
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock issued (taxes withheld) under employee stock purchase and share-based compensation plans, net (in shares)			0
Stock issued (taxes withheld) under employee stock purchase and share-based compensation plans, net			$ 0	800
Share-based compensation expense				7,700
Repurchase of common stock, including excise taxes (in shares)			0
Repurchase of common stock, including excise taxes			$ 0	0
Other comprehensive income (loss)					500
Net income		51,900				51,900
Dividends
Common stock	[1]					(14,500)
Stock issued under share-based compensation plans						(200)
Balance, end of period (in shares) at Apr. 30, 2023			66,100,000
Balance, end of period at Apr. 30, 2023		$ 1,782,800	$ 700	679,200	(14,600)	1,117,500
Balance, beginning of period (in shares) at Oct. 31, 2023		62,847,387	62,800,000
Balance, beginning of period at Oct. 31, 2023		$ 1,799,900	$ 600	558,900	(9,200)	1,249,600
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock issued (taxes withheld) under employee stock purchase and share-based compensation plans, net (in shares)			500,000
Stock issued (taxes withheld) under employee stock purchase and share-based compensation plans, net			$ 0	(7,800)
Share-based compensation expense				16,600
Repurchase of common stock, including excise taxes (in shares)		(560,000)	(600,000)
Repurchase of common stock, including excise taxes		$ (23,800)	$ 0	(23,800)
Other comprehensive income (loss)					(500)
Net income		$ 88,400				88,400
Dividends
Common stock	[1]					(28,300)
Stock issued under share-based compensation plans						(1,000)
Balance, end of period (in shares) at Apr. 30, 2024		62,756,634	62,800,000
Balance, end of period at Apr. 30, 2024		$ 1,843,600	$ 600	544,000	(9,800)	1,308,800
Balance, beginning of period (in shares) at Jan. 31, 2024			63,300,000
Balance, beginning of period at Jan. 31, 2024		$ 1,843,600	$ 600	558,500	(15,700)	1,279,300
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock issued (taxes withheld) under employee stock purchase and share-based compensation plans, net (in shares)			0
Stock issued (taxes withheld) under employee stock purchase and share-based compensation plans, net			$ 0	1,000
Share-based compensation expense				8,400
Repurchase of common stock, including excise taxes (in shares)		(560,000)	(600,000)
Repurchase of common stock, including excise taxes		$ (23,800)	$ 0	(23,800)
Other comprehensive income (loss)					5,900
Net income		$ 43,800				43,800
Dividends
Common stock	[1]					(14,100)
Stock issued under share-based compensation plans						(200)
Balance, end of period (in shares) at Apr. 30, 2024		62,756,634	62,800,000
Balance, end of period at Apr. 30, 2024		$ 1,843,600	$ 600	$ 544,000	$ (9,800)	$ 1,308,800

[1]Cash dividends declared per common share were $0.225 and $0.220 for the three months ended April 30, 2024 and 2023, respectively, and $0.450 and $0.440 for the six months ended April 30, 2024 and 2023, respectively.

CONSOLIDATED STATEMENTS OF ST_2

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares	3 Months Ended		6 Months Ended
	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2024	Apr. 30, 2023
Statement of Stockholders' Equity [Abstract]
Common stock, dividends (in USD per share)	$ 0.225	$ 0.220	$ 0.450	$ 0.440

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	6 Months Ended
	Apr. 30, 2024	Apr. 30, 2023
Cash flows from operating activities
Net income	$ 88.4	$ 90.4
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization	52.9	61.1
Deferred income taxes	(2.6)	3.3
Share-based compensation expense	16.6	14.6
Provision for bad debt	2.2	0
Discount accretion on insurance claims	0.3	0.2
(Gain)/Loss on sale of assets	(0.2)	0.2
Change in fair value of contingent consideration	0	(8.4)
Income from unconsolidated affiliates	(3)	(1.7)
Distributions from unconsolidated affiliates	1.8	1.8
Changes in operating assets and liabilities
Trade accounts receivable and costs incurred in excess of amounts billed	36.4	(93.5)
Prepaid expenses and other current assets	(34.4)	(35.9)
Right-of-use assets	5	3.5
Other noncurrent assets	(30.1)	22.9
Trade accounts payable and other accrued liabilities	(57.8)	(118.1)
Long-term lease liabilities	(1.8)	(6.5)
Insurance claims	49.5	25.4
Income taxes payable, net	(5.4)	(4)
Other noncurrent liabilities	(0.9)	(0.3)
Total adjustments	28.4	(135.4)
Net cash provided by (used in) operating activities	116.9	(45)
Cash flows from investing activities
Additions to property, plant and equipment	(29.1)	(23.8)
Proceeds from sale of assets	0.6	1.6
Net cash used in investing activities	(28.6)	(22.2)
Cash flows from financing activities
Taxes withheld from issuance of share-based compensation awards, net	(8.7)	(12)
Repurchases of common stock, including excise taxes	(23.8)	0
Dividends paid	(28.3)	(29)
Borrowings from debt	556	575.5
Repayment of borrowings from debt	(597.3)	(459.8)
Changes in book cash overdrafts	6	(11)
Financing of energy savings performance contracts	0	0.5
Repayment of finance lease obligations	(2)	(1.5)
Net cash (used in) provided by financing activities	(98)	62.8
Effect of exchange rate changes on cash and cash equivalents	0.8	2.6
Net decrease in cash and cash equivalents	(8.8)	(1.8)
Cash and cash equivalents at beginning of year	69.5	73
Cash and cash equivalents at end of period	$ 60.7	$ 71.2

THE COMPANY AND NATURE OF OPERA

THE COMPANY AND NATURE OF OPERATIONS	6 Months Ended
THE COMPANY AND NATURE OF OPERATIONS	Apr. 30, 2024
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	6 Months Ended
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES	Apr. 30, 2024
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, 2023. Unless otherwise indicated, all references to years are to our fiscal years, which end on October 31. 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. 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. Management reimbursement revenue for the three and six months ended April 30, 2024, was $76.9 million and $157.0 million, respectively. Management reimbursement revenue for the three and six months ended April 30, 2023, was $73.5 million and $146.0 million, respectively. Recently Adopted Accounting Standards In September 2022, the FASB issued ASU 2022-04, Liabilities — Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations , designed to enhance transparency around supplier finance programs by requiring new disclosures that would allow a user of the financial statements to understand the program’s nature, activity during the period, changes from period to period, and potential magnitude. This ASU is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years, except for the amendment on rollforward information, which is effective for fiscal years beginning after December 15, 2023, with early adoption permitted. We adopted this standard, effective November 1, 2023, on a prospective basis, except for the rollforward requirement, which becomes effective in fiscal year 2025. We do not participate in any material supplier finance programs and, as such, the adoption of this guidance did not have an impact on our disclosures.

ACQUISITIONS

ACQUISITIONS	6 Months Ended
ACQUISITIONS	Apr. 30, 2024
Business Combination and Asset Acquisition [Abstract]
ACQUISITIONS	ACQUISITIONS Acquisition of RavenVolt On September 1, 2022, we completed the acquisition of all of the equity interests of RavenVolt, Inc. (“RavenVolt”), a nationwide provider of advanced turn-key microgrid systems utilized by diversified commercial and industrial customers, national retailers, utilities, and municipalities. RavenVolt’s operations are included within our Technical Solutions segment. The purchase price for the acquisition was approximately $170.0 million in cash at closing (subject to customary working capital and net debt adjustments) plus the potential of post-closing contingent consideration of up to $280.0 million. The post-closing contingent consideration would be payable in cash in calendar years 2024, 2025, and 2026 if RavenVolt’s earnings before interest, taxes, depreciation, and amortization (“EBITDA”), as defined in the RavenVolt merger agreement, meets or exceeds certain defined targets. In 2024, defined EBITDA targets were not achieved, and as a result, no contingent consideration payment was made in 2024 for calendar year 2023. The maximum remaining contingent consideration that is payable in calendar years 2025 and 2026 is $75.0 million and $130.0 million, respectively. If the EBITDA achieved for calendar years 2023–2025 cumulatively meets the defined EBITDA targets, the entire $280.0 million would be paid in calendar year 2026, minus any earn-out payments made in 2024 and 2025. The estimate of the fair value of the contingent consideration on the date of acquisition was $59.0 million.

REVENUES

REVENUES	6 Months Ended
REVENUES	Apr. 30, 2024
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 B&I, M&D, Education, Aviation, and Technical Solutions, as described in Note 12, “Segment Information.” Three Months Ended April 30, 2024 Six Months Ended April 30, 2024 (in millions) B&I M&D Education Aviation Technical Total B&I M&D Education Aviation Technical Total Major Service Line Janitorial (1) $ 681.5 $ 338.2 $ 199.7 $ 41.9 $ — $ 1,261.3 $ 1,374.7 $ 687.1 $ 397.7 $ 78.4 $ — $ 2,537.9 Parking (2) 102.5 12.1 0.1 80.1 — 194.8 205.7 25.1 0.2 162.8 — 393.9 Facility Services (3) 205.7 38.3 25.8 11.1 — 280.8 442.3 77.3 47.8 24.1 — 591.4 Building & Energy Solutions (4) — — — — 176.2 176.2 — — — — 342.1 342.1 Airline Services (5) — — — 105.1 — 105.1 — — — 222.5 — 222.5 Total $ 989.6 $ 388.6 $ 225.6 $ 238.2 $ 176.2 $ 2,018.2 $ 2,022.8 $ 789.5 $ 445.7 $ 487.8 $ 342.1 $ 4,087.8 Three Months Ended April 30, 2023 Six Months Ended April 30, 2023 (in millions) B&I M&D Education Aviation Technical Total B&I M&D Education Aviation Technical Total Major Service Line Janitorial (1) $ 673.5 $ 325.3 $ 188.2 $ 36.2 $ — $ 1,223.2 $ 1,360.6 $ 653.8 $ 375.9 $ 72.1 $ — $ 2,462.4 Parking (2) 100.3 9.9 0.3 91.7 — 202.1 197.1 21.3 0.5 166.5 — 385.5 Facility Services (3) 224.7 38.0 28.2 8.0 — 298.9 477.3 78.5 55.2 16.8 — 627.8 Building & Energy Solutions (4) — — — — 168.4 168.4 — — — — 315.5 315.5 Airline Services (5) — — — 91.3 — 91.3 — — — 184.1 — 184.1 Total $ 998.5 $ 373.2 $ 216.7 $ 227.2 $ 168.4 $ 1,984.0 $ 2,035.0 $ 753.7 $ 431.6 $ 439.5 $ 315.5 $ 3,975.3 (1) Janitorial arrangements provide a wide range of essential cleaning services for commercial office buildings, airports and other transportation centers, educational institutions, government buildings, health facilities, industrial buildings, retail stores, and stadiums and arenas. These arrangements are often structured as monthly fixed-price, square-foot, cost-plus, and work order contracts. (2) Parking arrangements provide parking and transportation services for clients at various locations, including airports and other transportation centers, commercial office buildings, educational institutions, health facilities, hotels, and stadiums and arenas. These arrangements are structured as management reimbursement, leased location, and allowance contracts. Certain of these arrangements are considered service concession agreements and are accounted for under the guidance of Topic 853; accordingly, service concession expense related to these arrangements is recorded as a reduction of the related parking service revenues. (3) Facility Services arrangements provide onsite mechanical engineering and technical services and solutions relating to a broad range of facilities and infrastructure systems that are designed to extend the useful life of facility fixed assets, improve equipment operating efficiencies, reduce energy consumption, lower overall operational costs for clients, and enhance the sustainability of client locations. These arrangements are generally structured as monthly fixed-price, cost-plus, and work order contracts. (4) Building & Energy Solutions arrangements provide custom energy solutions, including microgrid systems installation, electrical, HVAC, lighting, electric vehicle charging station installation, and other general maintenance and repair services for clients in the public and private sectors and are generally structured as Energy Savings, 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, 2023. 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. Some of our contracts, often related to Airline Services, may also include performance incentives based on variable performance measures that are ascertained exclusively by future performance and therefore cannot be estimated at contract inception and are recognized as revenue once known and mutually agreed upon. We include estimated amounts in the transaction price to the extent it is probable that a significant reversal of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is resolved. Our estimates of variable consideration and determination of whether to include estimated amounts in the transaction price are based largely on an assessment of our anticipated performance and all information (historical, current, and forecasted) that is reasonably available to us. 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 90 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 April 30, 2024 , performance obligations that were unsatisfied for which we expect to recognize revenue totaled $283.0 million. We expect to recognize revenue on approximately 71% 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) contr acts 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. For these contract types, 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) April 30, 2024 October 31, 2023 Contract assets Billed trade receivables (1) $ 1,167.6 $ 1,219.6 Unbilled trade receivables (1) 171.2 170.4 Costs incurred in excess of amounts billed (2) 152.2 139.2 Capitalized commissions (3) 30.2 30.2 (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 six months ended April 30, 2024, we capitalized $7.4 million of new costs and amortized $7.4 million of previously capitalized costs. There was no impairment loss recorded on the costs capitalized. (in millions) Six Months Ended Contract liabilities (1) Balance at beginning of period $ 141.2 Additional contract liabilities 121.6 Recognition of deferred revenue (107.9) Balance at end of period $ 154.9 (1)

NET INCOME PER COMMON SHARE

NET INCOME PER COMMON SHARE	6 Months Ended
NET INCOME PER COMMON SHARE	Apr. 30, 2024
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 April 30, Six Months Ended April 30, (in millions, except per share amounts) 2024 2023 2024 2023 Net income $ 43.8 $ 51.9 $ 88.4 $ 90.4 Weighted-average common and common equivalent shares outstanding — Basic 63.3 66.4 63.4 66.4 Effect of dilutive securities Restricted stock units 0.1 0.1 0.1 0.2 Performance shares 0.1 0.1 0.1 0.2 Weighted-average common and common equivalent shares outstanding — Diluted 63.5 66.7 63.7 66.7 Net income per common share Basic $ 0.69 $ 0.78 $ 1.40 $ 1.36 Diluted $ 0.69 $ 0.78 $ 1.39 $ 1.35 Anti-Dilutive Outstanding Stock Awards Issued Under Share-Based Compensation Plans Three Months Ended April 30, Six Months Ended April 30, (in millions) 2024 2023 2024 2023 Anti-dilutive 0.2 0.3 0.3 0.2

FAIR VALE OF FINANCIAL INSTRUME

FAIR VALE OF FINANCIAL INSTRUMENTS	6 Months Ended
FAIR VALE OF FINANCIAL INSTRUMENTS	Apr. 30, 2024
Fair Value Disclosures [Abstract]
FAIR VALE 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 April 30, 2024 October 31, 2023 Cash and cash equivalents (1) 1 $ 60.7 $ 69.5 Insurance deposits (2) 1 2.3 3.1 Assets held in funded deferred compensation plan (3) 1 4.2 4.0 Credit facility (4) 2 1,272.5 1,313.8 Interest rate swap assets (5) 2 30.7 36.4 Preferred equity investment (6) 3 15.4 15.4 Contingent consideration (7) 3 13.4 13.4 (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 7, “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 Amended Credit Facility. Due to variable interest rates, the carrying value of outstanding borrowings under this facility approximates the fair value. See Note 8, “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 Secured Overnight Financing Rate (“SOFR”) forward rates at the end of the period. Our interest rate swap assets and liabilities are included in “Other noncurrent assets” and “Other noncurrent liabilities,” respectively, on the accompanying unaudited Consolidated Balance Sheets. See Note 8, “Credit Facility,” for further information. (6 Our investments do not have a readily determinable fair value; therefore, we account for the investments using the measurement alternative under Topic 321 and measure the investments at initial cost plus or minus fair value adjustments if there are observable prices minus impairment, if any. (7) Our contingent consideration payable related to the RavenVolt Acquisition is remeasured at each reporting date, based on significant inputs not observable in the market, which represents a Level 3 measurement within the fair value hierarchy. After the acquisition date and until the contingency is resolved, the fair value of contingent consideration payable is adjusted each reporting period based primarily on the expected probability of achievement of the contingency targets, which are subject to our estimate. These changes in fair value are recognized within the “Selling, general and administrative expenses” of the unaudited Consolidated Statements of Comprehensive Income. There was no material change in the fair value of the contingent consideration during the three and six months ended April 30, 2024 . Non-Financial Assets Measured at Fair Value on a Non-Recurring Basis In addition to assets and liabilities that are measured at fair value on a recurring basis, we are also required to measure certain items at fair value on a non-recurring basis. These assets can include: goodwill; intangible assets; property, plant and equipment; lease-related ROU assets; and long-lived assets that have been reduced to fair value when they are held for sale. If certain triggering events occur, or if an annual impairment test is required, then we would evaluate these non-financial assets for impairment. If an impairment were to occur, then the asset would be recorded at the estimated fair value, using primarily unobservable Level 3 inputs.

INSURANCE

INSURANCE	6 Months Ended
INSURANCE	Apr. 30, 2024
Insurance [Abstract]
INSURANCE	INSURANCE We use a combination of insured and self-insurance programs to cover workers’ compensation, general liability, automobile liability, property damage, and other insurable risks. For the majority of these insurance programs, we retain the initial $1.0 million to $5.0 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 and Interim Update Performed During 2024 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 2024, 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, 2023, through October 31, 2023 (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. During the second quarter of 2024, we performed an interim actuarial update of the majority of our casualty insurance programs that considered changes in claims development and claims payment activity for the period of November 1, 2023, through January 31, 2024 (the “Interim Update”). This Interim Update was abbreviated in nature based on actual versus expected developments during the periods analyzed and relied on the key assumptions in the Actuarial Review (most notably loss development patterns, trend assumptions, and underlying expected loss costs). Based on the results of the Actuarial Review and Interim Update at April 30, 2024, we increased our total reserves related to prior years for known claims as well as our estimate of the loss amounts associated with incurred but not reported claims (“IBNR claims”) by $9.7 million during the six months ended April 30, 2024. During the six months ended April 30, 2023, it was determined that there was no adjustment required for our total reserves related to prior years. We will continue to assess ongoing developments, which may result in further adjustments to reserves. Insurance-Related Balances and Activity (in millions) April 30, 2024 October 31, 2023 Insurance claim reserves, excluding medical and dental $ 602.9 $ 555.0 Medical and dental claim reserves 11.4 9.5 Insurance recoverables 106.6 67.1 At April 30, 2024, and October 31, 2023, 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) April 30, 2024 October 31, 2023 Standby letters of credit $ 53.1 $ 53.5 Surety bonds and surety-backed letters of credit 176.6 178.0 Restricted insurance deposits 2.3 3.1 Total $ 232.0 $ 234.7

Credit Facility

Credit Facility	6 Months Ended
Credit Facility	Apr. 30, 2024
Debt Disclosure [Abstract]
Credit Facility	Credit Facility Credit Facility Information (in millions) April 30, 2024 October 31, 2023 Current portion of long-term debt (1)(2) Gross term loan $ 32.5 $ 32.5 Unamortized deferred financing costs (0.9) (1.0) Current portion of term loan $ 31.6 $ 31.5 Long-term debt (1)(2) Gross term loan $ 520.0 $ 536.3 Unamortized deferred financing costs (1.0) (1.5) Total noncurrent portion of term loan 519.0 534.8 Revolving line of credit (3) 720.0 745.0 Long-term debt $ 1,239.0 $ 1,279.8 (1) At both April 30, 2024, and October 31, 2023, the weighted average interest rate on all outstanding borrowings, not including letters of credit and swaps, was 7.17%. (2) At April 30, 2024, we had borrowing capacity of $501.1 million. (3) Standby letters of credit amounted to $57.9 million at April 30, 2024. On September 1, 2017, we refinanced and replaced our then-existing $800.0 million credit facility with a new senior, secured five-year syndicated credit facility (the “Credit Facility”), consisting of a $900.0 million revolving line of credit (the “Revolver”) and an $800.0 million amortizing term loan, both of which matured on September 1, 2022. In accordance with terms of the Credit Facility, the revolver was reduced to $800.0 million on September 1, 2018. On June 28, 2021, the Company amended and restated the Credit Facility (the “Amended Credit Facility”), extending the maturity date to June 28, 2026, and increasing the capacity of the revolving credit facility from $800.0 million to $1.3 billion and the then-remaining term loan outstanding from $620.0 million to $650.0 million. The Amended Credit Facility provides for the issuance of up to $350.0 million for standby letters of credit and the issuance of up to $75.0 million in swingline advances. The obligations under the Amended Credit Facility are secured on a first-priority basis by a lien on substantially all of our assets and properties, subject to certain exceptions. Additionally, we may repay amounts borrowed under the Amended Credit Facility at any time without penalty. At November 1, 2022, we amended our Amended Credit Facility pursuant to the LIBOR (London Interbank Offered Rate) Transition Amendment and the Fifth Amendment to replace the benchmark rate at which U.S.dollar-denominated borrowings bear interest from LIBOR to the forward-looking Secured Overnight Financing Rate (“SOFR”) term rate administered by CME Group Benchmark Administration Limited. As a result of these amendments, we can borrow at Term SOFR plus a credit spread adjustment of 0.10% subject to a floor of zero. The Amended Credit Facility contains certain covenants, including a maximum total net leverage ratio of 5.00 to 1.00, a maximum secured net leverage ratio of 4.00 to 1.00, and a minimum interest coverage ratio of 1.50 to 1.00, as well as other financial and non-financial covenants. In the event of a material acquisition, as defined in the Amended Credit Facility, we may elect to increase the maximum total net leverage ratio to 5.50 to 1.00 for a total of four fiscal quarters and increase the maximum secured net leverage ratio to 4.50 to 1.00 for a total of four fiscal quarters. Our borrowing capacity is subject to, and limited by, compliance with the covenants described above. At April 30, 2024, we were in compliance with these covenants. The Amended Credit Facility also includes customary events of default, including: failure to pay principal, interest, or fees when due; failure to comply with covenants; the occurrence of certain material judgments; and a change in control of the Company. If certain events of default occur, including certain cross-defaults, insolvency, change in control, or violation of specific covenants, then the lenders can terminate or suspend our access to the Amended Credit Facility, declare all amounts outstanding (including all accrued interest and unpaid fees) to be immediately due and payable, and require that we cash collateralize the outstanding standby letters of credit. We incurred deferred financing costs of $6.4 million in conjunction with the execution of the Amended Credit Facility and carried over $6.2 million of unamortized deferred financing from initial execution and previous amendments of the Credit Facility. Total deferred financing costs of $12.6 million, consisting of $4.9 million related to the term loan and $7.7 million related to the revolver, are being amortized to interest expense over the term of the Amended Credit Facility. Long-Term Debt Maturities During the three and six months ended April 30, 2024, we made principal payments under the term loan of $8.1 million and $16.3 million, respectively. As of April 30, 2024, the following principal payments are required under the Amended Credit Facility: (in millions) 2024 2025 2026 2027 2028 Debt maturities $ 16.3 $ 32.5 $ 1,223.8 $ — $ — Interest Rate Swaps We utilize interest rate swap agreements to fix the variable interest rates on portions of our debt. The purpose of using these derivatives is to reduce our exposure to the interest rate risk associated with variable borrowings. Under these agreements, we typically pay a fixed interest rate in exchange for a SOFR-based variable interest rate on a given notional amount. All of our interest rate swaps are designated and accounted for as cash flow hedges. Changes in the fair value of these derivatives are reported as a component of other comprehensive income and are reclassified into earnings in the period or periods in which the hedged transaction affects earnings. For information regarding the valuation of our interest rate swaps, see Note 6, “Fair Value of Financial Instruments.” Notional Amount Fixed Interest Rate Effective Date Maturity Date $100.0 million 1.72% February 9, 2022 June 28, 2026 $150.0 million 1.85% February 25, 2022 June 28, 2026 $100.0 million 2.88% May 4, 2022 June 28, 2026 $202.5 million (1) 2.83% July 7, 2022 June 28, 2026 $47.5 million (1) 2.79% July 18, 2022 June 28, 2026 $170.0 million 3.81% November 1, 2022 June 28, 2026 (1) In July 2022, we entered into interest rate swap agreements with notional values totaling $300.0 million at inception. The notional amount reduces to $175.0 million in October 2024 and $100.0 million in October 2025 before maturing on June 28, 2026. At April 30, 2024 , and October 31, 2023 , amounts recorded in accumulated other comprehensive loss (“AOCL”) for interest rate swaps were a gain of $21.7 million, net of taxes of $9.0 million, and a gain of $26.0 million, net of taxes of $10.5 million, respectively. At April 30, 2024, the total amount expected to be reclassified from AOCL to earnings during the next 12 months is a gain of $10.4 million, net of taxes of $3.7 million.

COMMON STOCK

COMMON STOCK	6 Months Ended
COMMON STOCK	Apr. 30, 2024
Stockholders' Equity Note [Abstract]
COMMON STOCK	COMMON STOCK Effective December 13, 2023, our Board of Directors expanded our existing share repurchase program by an additional $150.0 million. Share repurchases may take place on the open market or otherwise, and all or part of the repurchases may be made pursuant to Rule 10b5-1 plans or in privately negotiated transactions. The timing of repurchases is at our discretion and will depend upon several factors, including market and business conditions, future cash flows, share price, share availability, and other factors. Repurchased shares are retired and returned to an authorized but unissued status. The repurchase program may be suspended or discontinued at any time without prior notice. Repurchase Activity We repurchased shares under the share repurchase program during the second quarter of fiscal year 2024, as summarized below. At April 30, 2024, authorization for $186.5 million of repurchases remained under the Share Repurchase Program. We did not repurchase any shares during the six months ended April 30, 2023. (in millions, except per share amounts) Three Months Ended April 30, 2024 Six Months Ended April 30, 2024 Total number of shares purchased 0.56 0.56 Average price paid per share (1) $ 42.84 $ 42.84 Total cash paid for share repurchases (1) $ 23.80 $ 23.80

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
COMMITMENTS AND CONTINGENCIES	Apr. 30, 2024
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 April 30, 2024, these letters of credit totaled $57.9 million and surety bonds and surety-backed letters of credit totaled $814.2 million. Guarantees In some instances, we offer clients guaranteed energy savings under certain energy savings contracts. At April 30, 2024, total guarantees were $233.9 million and extend through 2043. We include the estimated costs of guarantees in the transaction price to the extent it is probable that a significant reversal of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is resolved. Our estimates of variable consideration and determination of whether to include estimated amounts in the transaction price are based largely on an assessment of our anticipated performance and all information (historical, current, and forecasted) that is reasonably available to us. 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. In some cases when clients fail to pay their invoices, including the amount of any sales tax that we paid on their behalf, we may be 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 April 30, 2024, the total amount accrued for probable litigation losses where a reasonable estimate of the loss could be made was $14.0 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 $5.1 million. Factors underlying this estimated range of loss may change from time to time, and actual results may vary significantly from this estimate. Litigation outcomes are difficult to predict, and the estimation of probable losses requires the analysis of multiple possible outcomes that often depend on judgments about potential actions by third parties. If one or more matters are resolved in a particular period in an amount in excess of or in a manner different than what we anticipated, this could have a material adverse effect on our financial position, results of operations, or cash flows. In some cases, although a loss is probable or reasonably possible, we cannot reasonably estimate the maximum potential losses for probable matters or the range of losses for reasonably possible matters. Therefore, our accrual for probable losses and our estimated range of loss for reasonably possible losses do not represent our maximum possible exposure. In determining whether to include any particular lawsuit or other proceeding in our disclosure, 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. We are currently not a party to any material legal proceedings, and we are not aware of filings of any pending or contemplated litigation, claims, or assessments. There can be no assurance that future legal proceedings arising in the ordinary course of business or otherwise will not have a material adverse effect on our financial position, results of operations, or cash flows.

INCOME TAXES

INCOME TAXES	6 Months Ended
INCOME TAXES	Apr. 30, 2024
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES Our quarterly tax provision is calculated using an estimated annual effective tax rate that is adjusted for discrete items occurring during the period to arrive at our effective tax rate. During the three and six months ended April 30, 2024, we had effective tax rates of 29.9% and 24.0%, respectively, resulting in provisions for taxes of $18.7 million and $28.0 million, respectively. During the three and six months ended April 30, 2023, we had effective tax rates of 28.2% and 27.6%, respectively, resulting in provisions for taxes of $20.4 million and $34.5 million respectively. The difference between the estimated annual effective tax rate before discrete items and statutory rate is primarily related to state income taxes, non-deductible compensation, and tax credits. Our effective tax rates for the three months ended April 30, 2024, and April 30, 2023, were not impacted by any significant discrete items. Our effective tax rate for the six months ended April 30, 2024, benefited from discrete items, primarily from $2.4 million for uncertain tax positions, $2.2 million for share-based compensation, and $2.2 million for return to provision adjustments related to our non-U.S. operations. Our effective tax rate for the six months ended April 30, 2023, benefited from discrete items, primarily from $1.4 million for share-based compensation. We plan to reinvest our foreign earnings to fund future non-U.S. growth and expansion, and we do not anticipate remitting such earnings to the United States. While U.S. federal tax expense has been recognized as a result of the Tax Cuts and Jobs Act of 2017, no deferred tax liabilities with respect to federal and state income taxes or foreign withholding taxes have been recognized.

SEGMENT INFORMATION

SEGMENT INFORMATION	6 Months Ended
SEGMENT INFORMATION	Apr. 30, 2024
Segment Reporting [Abstract]
SEGMENT INFORMATION	SEGMENT INFORMATION Our current reportable segments consist of B&I, M&D, Education, Aviation, and Technical Solutions, as further described below. REPORTABLE SEGMENTS AND DESCRIPTIONS B&I B&I, our largest reportable segment, encompasses janitorial, facilities engineering, and parking services for commercial real estate properties (including corporate offices for high-tech clients), sports and entertainment venues, and traditional hospitals and non-acute healthcare facilities. B&I also provides vehicle maintenance and other services to rental car providers. M&D M&D provides integrated facility services, engineering, janitorial, and other specialized services in different types of manufacturing, distribution, and data center facilities. Manufacturing facilities include traditional motor vehicles, electric vehicles, batteries, pharmaceuticals, steel, semiconductors, chemicals, and many others. Distribution facilities include e-commerce, cold storage, logistics, general warehousing, and others. Education Education delivers janitorial, custodial, landscaping and grounds, facilities engineering, and parking services for public school districts, private schools, colleges, and universities. Aviation Aviation supports airlines and airports with services ranging from parking and janitorial to passenger assistance, catering logistics, air cabin maintenance, and transportation. Technical Solutions Technical Solutions specializes in facility infrastructure, mechanical, and electrical services, including power design, installation, and maintenance, as well as microgrid systems installations. These services can also be leveraged for cross-selling across all of our industry groups, both domestically and internationally. Financial Information by Reportable Segment Three Months Ended April 30, Six Months Ended April 30, (in millions) 2024 2023 2024 2023 Revenues Business & Industry $ 989.6 $ 998.5 $ 2,022.8 $ 2,035.0 Manufacturing & Distribution 388.6 373.2 789.5 753.7 Education 225.6 216.7 445.7 431.6 Aviation 238.2 227.2 487.8 439.5 Technical Solutions 176.2 168.4 342.1 315.5 Total Revenues $ 2,018.2 $ 1,984.0 $ 4,087.8 $ 3,975.3 Operating profit Business & Industry $ 77.6 $ 76.2 $ 157.2 $ 152.2 Manufacturing & Distribution 43.6 40.8 85.0 81.7 Education 11.5 11.8 24.3 23.6 Aviation 13.1 23.6 22.8 31.9 Technical Solutions 17.0 10.2 23.5 17.4 Corporate (79.7) (69.2) (154.4) (140.8) Adjustment for income from unconsolidated affiliates, included in Aviation and Technical Solutions (1.7) (0.6) (3.0) (1.7) Adjustment for tax deductions for energy efficient government buildings, included in Technical Solutions — — — (0.1) Total operating profit $ 81.3 $ 92.7 $ 155.4 $ 164.1 Income from unconsolidated affiliates 1.7 0.6 3.0 1.7 Interest expense (20.6) (21.1) (41.9) (40.9) Income before income taxes $ 62.4 $ 72.3 $ 116.4 $ 125.0 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 corporate costs. Certain corporate costs not allocated to segments include information technology, human resources, executive and finance expenses, and legal costs and settlements. Additionally, share-based compensation, actuarial adjustments to self-insurance reserves related to prior years, acquisition and integration costs, and changes in fair values of contingent consideration are not allocated to segments. Management does not review asset information by segment, therefore we do not present assets in this note.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended		6 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Millions	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2024	Apr. 30, 2023
Pay vs Performance Disclosure
Net income	$ 43.8	$ 51.9	$ 88.4	$ 90.4

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended	6 Months Ended
Insider Trading Arrangements	Apr. 30, 2024 shares	Apr. 30, 2024 shares
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		During the three months ended April 30, 2024, certain of our “officers,” as defined in Rule 16a-1(f) of the Exchange Act, and directors adopted, modified, or terminated a “Rule 10b5-1 trading arrangement” or a “non-Rule 10b5-1 trading arrangement,” as each term is defined in Item 408 of Regulation S-K, as follows: Trading Arrangements Name and Title Action Date of Action Rule 10b5-1 Trading Arrangement 1 Non-Rule 10b5-1 Trading Arrangement Aggregate Number of Securities to Be Sold Aggregate Number of Securities to Be Purchased Duration Scott Salmirs, President and Chief Executive Officer Adoption April 9, 2024 X - 50,000 shares of common stock - From July 10, 2024, until the earlier of (i) the date when all the shares under the plan are sold and (ii) January 15, 2025 Rene Jacobsen, Executive Vice President and Chief Operating Officer Adoption April 15, 2024 X - 50,000 shares of common stock - From July 15, 2024, until the earlier of (i) the date when all shares under the plan are sold and (ii) July 15, 2025 (1)
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Scott Salmirs [Member]
Trading Arrangements, by Individual
Name	Scott Salmirs,
Title	President and Chief Executive Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	April 9, 2024
Arrangement Duration	189 days
Aggregate Available	50,000	50,000
Rene Jacobsen [Member]
Trading Arrangements, by Individual
Name	Rene Jacobsen,
Title	Executive Vice President and Chief Operating Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	April 15, 2024
Arrangement Duration	365 days
Aggregate Available	50,000	50,000

BASIS OF PRESENTATION AND SIG_2

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Apr. 30, 2024
Accounting Policies [Abstract]
Basis of Presentation	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, 2023. Unless otherwise indicated, all references to years are to our fiscal years, which end on October 31.
Management Reimbursement Revenue by Segment and Remaining Performance Obligations	Management Reimbursement Revenue by Segment Remaining Performance Obligations At April 30, 2024 , performance obligations that were unsatisfied for which we expect to recognize revenue totaled $283.0 million. We expect to recognize revenue on approximately 71% 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) contr acts 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. For these contract types, 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	Recently Adopted Accounting Standards In September 2022, the FASB issued ASU 2022-04, Liabilities — Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations , designed to enhance transparency around supplier finance programs by requiring new disclosures that would allow a user of the financial statements to understand the program’s nature, activity during the period, changes from period to period, and potential magnitude. This ASU is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years, except for the amendment on rollforward information, which is effective for fiscal years beginning after December 15, 2023, with early adoption permitted. We adopted this standard, effective November 1, 2023, on a prospective basis, except for the rollforward requirement, which becomes effective in fiscal year 2025. We do not participate in any material supplier finance programs and, as such, the adoption of this guidance did not have an impact on our disclosures.
Contract Types and Contract Balances	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, 2023. 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. Some of our contracts, often related to Airline Services, may also include performance incentives based on variable performance measures that are ascertained exclusively by future performance and therefore cannot be estimated at contract inception and are recognized as revenue once known and mutually agreed upon. We include estimated amounts in the transaction price to the extent it is probable that a significant reversal of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is resolved. Our estimates of variable consideration and determination of whether to include estimated amounts in the transaction price are based largely on an assessment of our anticipated performance and all information (historical, current, and forecasted) that is reasonably available to us. 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 90 days. 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.

REVENUES (Tables)

REVENUES (Tables)	6 Months Ended
REVENUES (Tables)	Apr. 30, 2024
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenues	Three Months Ended April 30, 2024 Six Months Ended April 30, 2024 (in millions) B&I M&D Education Aviation Technical Total B&I M&D Education Aviation Technical Total Major Service Line Janitorial (1) $ 681.5 $ 338.2 $ 199.7 $ 41.9 $ — $ 1,261.3 $ 1,374.7 $ 687.1 $ 397.7 $ 78.4 $ — $ 2,537.9 Parking (2) 102.5 12.1 0.1 80.1 — 194.8 205.7 25.1 0.2 162.8 — 393.9 Facility Services (3) 205.7 38.3 25.8 11.1 — 280.8 442.3 77.3 47.8 24.1 — 591.4 Building & Energy Solutions (4) — — — — 176.2 176.2 — — — — 342.1 342.1 Airline Services (5) — — — 105.1 — 105.1 — — — 222.5 — 222.5 Total $ 989.6 $ 388.6 $ 225.6 $ 238.2 $ 176.2 $ 2,018.2 $ 2,022.8 $ 789.5 $ 445.7 $ 487.8 $ 342.1 $ 4,087.8 Three Months Ended April 30, 2023 Six Months Ended April 30, 2023 (in millions) B&I M&D Education Aviation Technical Total B&I M&D Education Aviation Technical Total Major Service Line Janitorial (1) $ 673.5 $ 325.3 $ 188.2 $ 36.2 $ — $ 1,223.2 $ 1,360.6 $ 653.8 $ 375.9 $ 72.1 $ — $ 2,462.4 Parking (2) 100.3 9.9 0.3 91.7 — 202.1 197.1 21.3 0.5 166.5 — 385.5 Facility Services (3) 224.7 38.0 28.2 8.0 — 298.9 477.3 78.5 55.2 16.8 — 627.8 Building & Energy Solutions (4) — — — — 168.4 168.4 — — — — 315.5 315.5 Airline Services (5) — — — 91.3 — 91.3 — — — 184.1 — 184.1 Total $ 998.5 $ 373.2 $ 216.7 $ 227.2 $ 168.4 $ 1,984.0 $ 2,035.0 $ 753.7 $ 431.6 $ 439.5 $ 315.5 $ 3,975.3 (1) Janitorial arrangements provide a wide range of essential cleaning services for commercial office buildings, airports and other transportation centers, educational institutions, government buildings, health facilities, industrial buildings, retail stores, and stadiums and arenas. These arrangements are often structured as monthly fixed-price, square-foot, cost-plus, and work order contracts. (2) Parking arrangements provide parking and transportation services for clients at various locations, including airports and other transportation centers, commercial office buildings, educational institutions, health facilities, hotels, and stadiums and arenas. These arrangements are structured as management reimbursement, leased location, and allowance contracts. Certain of these arrangements are considered service concession agreements and are accounted for under the guidance of Topic 853; accordingly, service concession expense related to these arrangements is recorded as a reduction of the related parking service revenues. (3) Facility Services arrangements provide onsite mechanical engineering and technical services and solutions relating to a broad range of facilities and infrastructure systems that are designed to extend the useful life of facility fixed assets, improve equipment operating efficiencies, reduce energy consumption, lower overall operational costs for clients, and enhance the sustainability of client locations. These arrangements are generally structured as monthly fixed-price, cost-plus, and work order contracts. (4) Building & Energy Solutions arrangements provide custom energy solutions, including microgrid systems installation, electrical, HVAC, lighting, electric vehicle charging station installation, and other general maintenance and repair services for clients in the public and private sectors and are generally structured as Energy Savings, 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.
Schedule of Contract Asset and Liability	The following tables present the balances in our contract assets and contract liabilities: (in millions) April 30, 2024 October 31, 2023 Contract assets Billed trade receivables (1) $ 1,167.6 $ 1,219.6 Unbilled trade receivables (1) 171.2 170.4 Costs incurred in excess of amounts billed (2) 152.2 139.2 Capitalized commissions (3) 30.2 30.2 (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 six months ended April 30, 2024, we capitalized $7.4 million of new costs and amortized $7.4 million of previously capitalized costs. There was no impairment loss recorded on the costs capitalized. (in millions) Six Months Ended Contract liabilities (1) Balance at beginning of period $ 141.2 Additional contract liabilities 121.6 Recognition of deferred revenue (107.9) Balance at end of period $ 154.9 (1)

NET INCOME PER COMMON SHARE (Ta

NET INCOME PER COMMON SHARE (Tables)	6 Months Ended
NET INCOME PER COMMON SHARE (Tables)	Apr. 30, 2024
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 April 30, Six Months Ended April 30, (in millions, except per share amounts) 2024 2023 2024 2023 Net income $ 43.8 $ 51.9 $ 88.4 $ 90.4 Weighted-average common and common equivalent shares outstanding — Basic 63.3 66.4 63.4 66.4 Effect of dilutive securities Restricted stock units 0.1 0.1 0.1 0.2 Performance shares 0.1 0.1 0.1 0.2 Weighted-average common and common equivalent shares outstanding — Diluted 63.5 66.7 63.7 66.7 Net income per common share Basic $ 0.69 $ 0.78 $ 1.40 $ 1.36 Diluted $ 0.69 $ 0.78 $ 1.39 $ 1.35
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 April 30, Six Months Ended April 30, (in millions) 2024 2023 2024 2023 Anti-dilutive 0.2 0.3 0.3 0.2

FAIR VALE OF FINANCIAL INSTRU_2

FAIR VALE OF FINANCIAL INSTRUMENTS (Tables)	6 Months Ended
FAIR VALE OF FINANCIAL INSTRUMENTS (Tables)	Apr. 30, 2024
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 April 30, 2024 October 31, 2023 Cash and cash equivalents (1) 1 $ 60.7 $ 69.5 Insurance deposits (2) 1 2.3 3.1 Assets held in funded deferred compensation plan (3) 1 4.2 4.0 Credit facility (4) 2 1,272.5 1,313.8 Interest rate swap assets (5) 2 30.7 36.4 Preferred equity investment (6) 3 15.4 15.4 Contingent consideration (7) 3 13.4 13.4 (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 7, “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 Amended Credit Facility. Due to variable interest rates, the carrying value of outstanding borrowings under this facility approximates the fair value. See Note 8, “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 Secured Overnight Financing Rate (“SOFR”) forward rates at the end of the period. Our interest rate swap assets and liabilities are included in “Other noncurrent assets” and “Other noncurrent liabilities,” respectively, on the accompanying unaudited Consolidated Balance Sheets. See Note 8, “Credit Facility,” for further information. (6 Our investments do not have a readily determinable fair value; therefore, we account for the investments using the measurement alternative under Topic 321 and measure the investments at initial cost plus or minus fair value adjustments if there are observable prices minus impairment, if any. (7) Our contingent consideration payable related to the RavenVolt Acquisition is remeasured at each reporting date, based on significant inputs not observable in the market, which represents a Level 3 measurement within the fair value hierarchy. After the acquisition date and until the contingency is resolved, the fair value of contingent consideration payable is adjusted each reporting period based primarily on the expected probability of achievement of the contingency targets, which are subject to our estimate. These changes in fair value are recognized within the “Selling, general and administrative expenses” of the unaudited Consolidated Statements of Comprehensive Income. There was no material change in the fair value of the contingent consideration during the three and six months ended April 30, 2024

INSURANCE (Tables)

INSURANCE (Tables)	6 Months Ended
INSURANCE (Tables)	Apr. 30, 2024
Insurance [Abstract]
Schedule of Insurance Related Balances and Activity	Insurance-Related Balances and Activity (in millions) April 30, 2024 October 31, 2023 Insurance claim reserves, excluding medical and dental $ 602.9 $ 555.0 Medical and dental claim reserves 11.4 9.5 Insurance recoverables 106.6 67.1
Schedule of Instruments Used to Collateralize Insurance Obligations	Instruments Used to Collateralize Our Insurance Obligations (in millions) April 30, 2024 October 31, 2023 Standby letters of credit $ 53.1 $ 53.5 Surety bonds and surety-backed letters of credit 176.6 178.0 Restricted insurance deposits 2.3 3.1 Total $ 232.0 $ 234.7

Credit Facility (Tables)

Credit Facility (Tables)	6 Months Ended
Credit Facility (Tables)	Apr. 30, 2024
Debt Disclosure [Abstract]
Schedule of Components of Debt	(in millions) April 30, 2024 October 31, 2023 Current portion of long-term debt (1)(2) Gross term loan $ 32.5 $ 32.5 Unamortized deferred financing costs (0.9) (1.0) Current portion of term loan $ 31.6 $ 31.5 Long-term debt (1)(2) Gross term loan $ 520.0 $ 536.3 Unamortized deferred financing costs (1.0) (1.5) Total noncurrent portion of term loan 519.0 534.8 Revolving line of credit (3) 720.0 745.0 Long-term debt $ 1,239.0 $ 1,279.8 (1) At both April 30, 2024, and October 31, 2023, the weighted average interest rate on all outstanding borrowings, not including letters of credit and swaps, was 7.17%. (2) At April 30, 2024, we had borrowing capacity of $501.1 million. (3)
Schedule of Long-Term Debt Maturities	As of April 30, 2024, the following principal payments are required under the Amended Credit Facility: (in millions) 2024 2025 2026 2027 2028 Debt maturities $ 16.3 $ 32.5 $ 1,223.8 $ — $ —
Schedule of Interest Rate Swaps	Notional Amount Fixed Interest Rate Effective Date Maturity Date $100.0 million 1.72% February 9, 2022 June 28, 2026 $150.0 million 1.85% February 25, 2022 June 28, 2026 $100.0 million 2.88% May 4, 2022 June 28, 2026 $202.5 million (1) 2.83% July 7, 2022 June 28, 2026 $47.5 million (1) 2.79% July 18, 2022 June 28, 2026 $170.0 million 3.81% November 1, 2022 June 28, 2026 (1)

COMMON STOCK (Tables)

COMMON STOCK (Tables)	6 Months Ended
COMMON STOCK (Tables)	Apr. 30, 2024
Stockholders' Equity Note [Abstract]
Schedule of Share Repurchase Activity	(in millions, except per share amounts) Three Months Ended April 30, 2024 Six Months Ended April 30, 2024 Total number of shares purchased 0.56 0.56 Average price paid per share (1) $ 42.84 $ 42.84 Total cash paid for share repurchases (1) $ 23.80 $ 23.80 (1)

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	6 Months Ended
SEGMENT INFORMATION (Tables)	Apr. 30, 2024
Segment Reporting [Abstract]
Schedule of Financial Information by Reportable Segment	Financial Information by Reportable Segment Three Months Ended April 30, Six Months Ended April 30, (in millions) 2024 2023 2024 2023 Revenues Business & Industry $ 989.6 $ 998.5 $ 2,022.8 $ 2,035.0 Manufacturing & Distribution 388.6 373.2 789.5 753.7 Education 225.6 216.7 445.7 431.6 Aviation 238.2 227.2 487.8 439.5 Technical Solutions 176.2 168.4 342.1 315.5 Total Revenues $ 2,018.2 $ 1,984.0 $ 4,087.8 $ 3,975.3 Operating profit Business & Industry $ 77.6 $ 76.2 $ 157.2 $ 152.2 Manufacturing & Distribution 43.6 40.8 85.0 81.7 Education 11.5 11.8 24.3 23.6 Aviation 13.1 23.6 22.8 31.9 Technical Solutions 17.0 10.2 23.5 17.4 Corporate (79.7) (69.2) (154.4) (140.8) Adjustment for income from unconsolidated affiliates, included in Aviation and Technical Solutions (1.7) (0.6) (3.0) (1.7) Adjustment for tax deductions for energy efficient government buildings, included in Technical Solutions — — — (0.1) Total operating profit $ 81.3 $ 92.7 $ 155.4 $ 164.1 Income from unconsolidated affiliates 1.7 0.6 3.0 1.7 Interest expense (20.6) (21.1) (41.9) (40.9) Income before income taxes $ 62.4 $ 72.3 $ 116.4 $ 125.0

THE COMPANY AND NATURE OF OPE_2

THE COMPANY AND NATURE OF OPERATIONS (Details)	6 Months Ended
THE COMPANY AND NATURE OF OPERATIONS (Details)	Apr. 30, 2024 industry_group segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of industry groups \| industry_group	4
Number of technical solutions segments \| segment	1

BASIS OF PRESENTATION AND SIG_3

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2024	Apr. 30, 2023
Segment Reporting Information [Line Items]
Revenues	$ 2,018.2	$ 1,984	$ 4,087.8	$ 3,975.3
Management Reimbursement Revenue
Segment Reporting Information [Line Items]
Revenues	$ 76.9	$ 73.5	$ 157	$ 146

ACQUISITIONS (Details)

ACQUISITIONS (Details) - RavenVolt - USD ($) $ in Millions		12 Months Ended
ACQUISITIONS (Details) - RavenVolt - USD ($) $ in Millions	Sep. 01, 2022	Dec. 31, 2026	Dec. 31, 2025	Oct. 31, 2023
Business Acquisition [Line Items]
Cash purchase price	$ 170
Fair value of contingent consideration	59			$ 13.4
Forecast
Business Acquisition [Line Items]
Maximum contingent consideration payable in future years		$ 130	$ 75
Maximum
Business Acquisition [Line Items]
Potential post-closing contingent consideration	$ 280
Maximum \| Forecast
Business Acquisition [Line Items]
Potential post-closing contingent consideration		$ 280

REVENUES - Schedule of Disaggre

REVENUES - Schedule of Disaggregation of Revenues (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2024	Apr. 30, 2023
Revenue from External Customer [Line Items]
Revenues	$ 2,018.2	$ 1,984	$ 4,087.8	$ 3,975.3
B&I
Revenue from External Customer [Line Items]
Revenues	989.6	998.5	2,022.8	2,035
M&D
Revenue from External Customer [Line Items]
Revenues	388.6	373.2	789.5	753.7
Education
Revenue from External Customer [Line Items]
Revenues	225.6	216.7	445.7	431.6
Aviation
Revenue from External Customer [Line Items]
Revenues	238.2	227.2	487.8	439.5
Technical Solutions
Revenue from External Customer [Line Items]
Revenues	176.2	168.4	342.1	315.5
Janitorial
Revenue from External Customer [Line Items]
Revenues	1,261.3	1,223.2	2,537.9	2,462.4
Janitorial \| B&I
Revenue from External Customer [Line Items]
Revenues	681.5	673.5	1,374.7	1,360.6
Janitorial \| M&D
Revenue from External Customer [Line Items]
Revenues	338.2	325.3	687.1	653.8
Janitorial \| Education
Revenue from External Customer [Line Items]
Revenues	199.7	188.2	397.7	375.9
Janitorial \| Aviation
Revenue from External Customer [Line Items]
Revenues	41.9	36.2	78.4	72.1
Janitorial \| Technical Solutions
Revenue from External Customer [Line Items]
Revenues	0	0	0	0
Parking
Revenue from External Customer [Line Items]
Revenues	194.8	202.1	393.9	385.5
Parking \| B&I
Revenue from External Customer [Line Items]
Revenues	102.5	100.3	205.7	197.1
Parking \| M&D
Revenue from External Customer [Line Items]
Revenues	12.1	9.9	25.1	21.3
Parking \| Education
Revenue from External Customer [Line Items]
Revenues	0.1	0.3	0.2	0.5
Parking \| Aviation
Revenue from External Customer [Line Items]
Revenues	80.1	91.7	162.8	166.5
Parking \| Technical Solutions
Revenue from External Customer [Line Items]
Revenues	0	0	0	0
Facility Services
Revenue from External Customer [Line Items]
Revenues	280.8	298.9	591.4	627.8
Facility Services \| B&I
Revenue from External Customer [Line Items]
Revenues	205.7	224.7	442.3	477.3
Facility Services \| M&D
Revenue from External Customer [Line Items]
Revenues	38.3	38	77.3	78.5
Facility Services \| Education
Revenue from External Customer [Line Items]
Revenues	25.8	28.2	47.8	55.2
Facility Services \| Aviation
Revenue from External Customer [Line Items]
Revenues	11.1	8	24.1	16.8
Facility Services \| Technical Solutions
Revenue from External Customer [Line Items]
Revenues	0	0	0	0
Building & Energy Solutions
Revenue from External Customer [Line Items]
Revenues	176.2	168.4	342.1	315.5
Building & Energy Solutions \| B&I
Revenue from External Customer [Line Items]
Revenues	0	0	0	0
Building & Energy Solutions \| M&D
Revenue from External Customer [Line Items]
Revenues	0	0	0	0
Building & Energy Solutions \| Education
Revenue from External Customer [Line Items]
Revenues	0	0	0	0
Building & Energy Solutions \| Aviation
Revenue from External Customer [Line Items]
Revenues	0	0	0	0
Building & Energy Solutions \| Technical Solutions
Revenue from External Customer [Line Items]
Revenues	176.2	168.4	342.1	315.5
Airline Services
Revenue from External Customer [Line Items]
Revenues	105.1	91.3	222.5	184.1
Airline Services \| B&I
Revenue from External Customer [Line Items]
Revenues	0	0	0	0
Airline Services \| M&D
Revenue from External Customer [Line Items]
Revenues	0	0	0	0
Airline Services \| Education
Revenue from External Customer [Line Items]
Revenues	0	0	0	0
Airline Services \| Aviation
Revenue from External Customer [Line Items]
Revenues	105.1	91.3	222.5	184.1
Airline Services \| Technical Solutions
Revenue from External Customer [Line Items]
Revenues	$ 0	$ 0	$ 0	$ 0

REVENUES - Remaining Performanc

REVENUES - Remaining Performance Obligations Narrative (Details) $ in Millions	Apr. 30, 2024 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Amount of remaining performance obligation	$ 283
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-05-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Percentage of remaining performance obligation	71%
Remaining performance obligation period	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-05-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation period

REVENUES - Schedule of Contract

REVENUES - Schedule of Contract Asset and Liability (Details) - USD ($)	6 Months Ended
	Apr. 30, 2024	Oct. 31, 2023
Revenue from Contract with Customer [Abstract]
Billed trade receivables	$ 1,167,600,000	$ 1,219,600,000
Unbilled trade receivables	171,200,000	170,400,000
Costs incurred in excess of amounts billed	152,200,000	139,200,000
Capitalized commissions	30,200,000	$ 30,200,000
Capitalized contract price	7,400,000
Amortization of previously capitalized contract costs	7,400,000
Impairment loss recorded on costs capitalized	0
Contract with Customer, Liabilities [Roll Forward]
Contract liabilities, balance at beginning of period	141,200,000
Additional contract liabilities	121,600,000
Recognition of deferred revenue	(107,900,000)
Contract liabilities, balance at end of period	$ 154,900,000

NET INCOME PER COMMON SHARE - S

NET INCOME PER COMMON SHARE - Schedule of Basic and Diluted Net Income Per Common Share Calculations (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2024	Apr. 30, 2023
Schedule of Earnings Per Share, Basic and Diluted, by Common Class [Line Items]
Net income	$ 43.8	$ 51.9	$ 88.4	$ 90.4
Weighted-average common and common equivalent shares outstanding — Basic (in shares)	63.3	66.4	63.4	66.4
Effect of dilutive securities
Weighted-average common and common equivalent shares outstanding — Diluted (in shares)	63.5	66.7	63.7	66.7
Net income per common share
Basic (in USD per share)	$ 0.69	$ 0.78	$ 1.40	$ 1.36
Diluted (in USD per share)	$ 0.69	$ 0.78	$ 1.39	$ 1.35
Restricted stock units
Effect of dilutive securities
Effect of dilutive securities (in shares)	0.1	0.1	0.1	0.2
Performance shares
Effect of dilutive securities
Effect of dilutive securities (in shares)	0.1	0.1	0.1	0.2

NET INCOME PER COMMON SHARE -_2

NET INCOME PER COMMON SHARE - Schedule of Anti-Dilutive Outstanding Stock Awards Issued Under Share-Based Compensation Plans (Details) - shares shares in Millions	3 Months Ended		6 Months Ended
	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2024	Apr. 30, 2023
Earnings Per Share [Abstract]
Anti-dilutive (in shares)	0.2	0.3	0.3	0.2

FAIR VALE OF FINANCIAL INSTRU_3

FAIR VALE OF FINANCIAL INSTRUMENTS (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Millions	Apr. 30, 2024	Oct. 31, 2023
Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	$ 60.7	$ 69.5
Insurance deposits	2.3	3.1
Assets held in funded deferred compensation plan	4.2	4
Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Credit facility	1,272.5	1,313.8
Interest rate swap assets	30.7	36.4
Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Preferred equity investment	15.4	15.4
Contingent consideration	$ 13.4	$ 13.4

INSURANCE - Narrative (Details)

INSURANCE - Narrative (Details) - USD ($)	6 Months Ended
INSURANCE - Narrative (Details) - USD ($)	Apr. 30, 2024	Apr. 30, 2023
Schedule of Other Liabilities [Line Items]
Insurance policy coverage, general and automobile liability losses	$ 200,000,000
Insurance policy coverage, property damage	75,000,000
Change in case reserves plus IBNR Claims — prior years	9,700,000	$ 0
Minimum
Schedule of Other Liabilities [Line Items]
Self insurance retention amount per-claim	1,000,000
Primary policy limit	1,000,000
Maximum
Schedule of Other Liabilities [Line Items]
Self insurance retention amount per-claim	5,000,000
Primary policy limit	5,000,000
Self insurance retention amount per-claim, medical plan	$ 500,000

INSURANCE - Schedule of Insuran

INSURANCE - Schedule of Insurance Related Balances and Activity (Details) - USD ($) $ in Millions	Apr. 30, 2024	Oct. 31, 2023
Liability for Claims and Claims Adjustment Expense [Line Items]
Insurance recoverables	$ 106.6	$ 67.1
Insurance claim reserves, excluding medical and dental
Liability for Claims and Claims Adjustment Expense [Line Items]
Insurance claim reserves	602.9	555
Medical and dental claim reserves
Liability for Claims and Claims Adjustment Expense [Line Items]
Insurance claim reserves	$ 11.4	$ 9.5

INSURANCE - Schedule of Instrum

INSURANCE - Schedule of Instruments Used to Collateralize Insurance Obligations (Details) - USD ($) $ in Millions	Apr. 30, 2024	Oct. 31, 2023
Letters Of Credit [Line Items]
Instruments used to collateralize insurance obligations	$ 232	$ 234.7
Standby letters of credit
Letters Of Credit [Line Items]
Instruments used to collateralize insurance obligations	53.1	53.5
Surety bonds and surety-backed letters of credit
Letters Of Credit [Line Items]
Instruments used to collateralize insurance obligations	176.6	178
Restricted insurance deposits
Letters Of Credit [Line Items]
Instruments used to collateralize insurance obligations	$ 2.3	$ 3.1

Credit Facility - Schedule of C

Credit Facility - Schedule of Components of Debt (Details) - USD ($) $ in Millions	Apr. 30, 2024	Oct. 31, 2023
Current portion of long-term debt
Gross term loan	$ 32.5	$ 32.5
Unamortized deferred financing costs	(0.9)	(1)
Current portion of term loan	31.6	31.5
Long-term debt
Gross term loan	520	536.3
Unamortized deferred financing costs	(1)	(1.5)
Total noncurrent portion of term loan	519	534.8
Revolving line of credit	720	745
Long-term debt	1,239	$ 1,279.8
Borrowing capacity	501.1
Standby letters of credit	$ 57.9
Credit Facility
Long-term debt
Weighted average interest rate	7.17%	7.17%

Credit Facility - Narrative (De

Credit Facility - Narrative (Details)			3 Months Ended	6 Months Ended	12 Months Ended
Credit Facility - Narrative (Details)	Nov. 01, 2022	Sep. 01, 2017 USD ($)	Apr. 30, 2024 USD ($)	Apr. 30, 2024 USD ($)	Oct. 31, 2023 USD ($)	Jun. 28, 2021 USD ($)	Jun. 27, 2021 USD ($)	Sep. 01, 2018 USD ($)	Aug. 31, 2017 USD ($)
Line of Credit Facility [Line Items]
Deferred financing costs						$ 12,600,000
Debt instrument, periodic payment, principal			$ 8,100,000	$ 16,300,000
Interest rate cash flow hedge gain to be reclassified during next 12 months, net			10,400,000	10,400,000
Tax to be reclassified during the next 12 months			$ 3,700,000	3,700,000
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent
Line of Credit Facility [Line Items]
Gain from cash flow hedges recorded in accumulated other comprehensive income (loss), net of tax				21,700,000	$ 26,000,000
Tax related to amounts in accumulated other comprehensive income (loss)				$ 9,000,000	$ 10,500,000
Line of Credit
Line of Credit Facility [Line Items]
Deferred financing costs						7,700,000
Term Loan
Line of Credit Facility [Line Items]
Deferred financing costs						4,900,000
Credit Facility
Line of Credit Facility [Line Items]
Line of credit facility, term		5 years
Floor on credit spread adjustment	0
Total net leverage ratio	5
Secured net leverage ratio	4
Interest coverage ratio	1.50
Deferred financing costs						6,400,000
Credit Facility \| Scenario, Material Acquisition
Line of Credit Facility [Line Items]
Total net leverage ratio	5.50
Secured net leverage ratio	4.50
Credit Facility \| Secured Overnight Financing Rate (SOFR)
Line of Credit Facility [Line Items]
Basis spread on variable rate	0.10%
Credit Facility \| Term Loan
Line of Credit Facility [Line Items]
Debt instrument, face amount		$ 800,000,000				650,000,000	$ 620,000,000
Deferred financing costs						6,200,000
Credit Facility \| Revolving Credit Facility \| Line of Credit
Line of Credit Facility [Line Items]
Line of credit facility, borrowing capacity		$ 900,000,000				1,300,000,000	$ 800,000,000	$ 800,000,000	$ 800,000,000
Credit Facility \| Standby letters of credit
Line of Credit Facility [Line Items]
Line of credit facility, borrowing capacity						350,000,000
Credit Facility \| Swing Line Loan
Line of Credit Facility [Line Items]
Line of credit facility, borrowing capacity						$ 75,000,000

Credit Facility - Schedule of L

Credit Facility - Schedule of Long-Term Debt Maturities (Details) - Term Loan $ in Millions	Apr. 30, 2024 USD ($)
Maturities of Long-term Debt
2024	$ 16.3
2025	32.5
2026	1,223.8
2027	0
2028	$ 0

Credit Facility - Schedule of I

Credit Facility - Schedule of Interest Rate Swaps (Details) - USD ($)	Oct. 31, 2025	Oct. 31, 2024	Nov. 01, 2022	Jul. 31, 2022	Jul. 18, 2022	Jul. 07, 2022	May 04, 2022	Feb. 25, 2022	Feb. 09, 2022
Line of Credit Facility [Line Items]
Notional Amount				$ 300,000,000
Forecast
Line of Credit Facility [Line Items]
Notional Amount	$ 100,000,000	$ 175,000,000
Interest Rate Swap, Effective 2/9/2022
Line of Credit Facility [Line Items]
Notional Amount									$ 100,000,000
Fixed Interest Rate									1.72%
Interest Rate Swap, Effective 2/25/2022
Line of Credit Facility [Line Items]
Notional Amount								$ 150,000,000
Fixed Interest Rate								1.85%
Interest Rate Swap, Effective 5/4/2022
Line of Credit Facility [Line Items]
Notional Amount							$ 100,000,000
Fixed Interest Rate							2.88%
Interest Rate Swap, Effective 7/7/2022
Line of Credit Facility [Line Items]
Notional Amount						$ 202,500,000
Fixed Interest Rate						2.83%
Interest Rate Swap, Effective 7/18/2022
Line of Credit Facility [Line Items]
Notional Amount					$ 47,500,000
Fixed Interest Rate					2.79%
Interest Rate Swap, Effective 11/1/2022
Line of Credit Facility [Line Items]
Notional Amount			$ 170,000,000
Fixed Interest Rate			3.81%

COMMON STOCK - Narrative (Detai

COMMON STOCK - Narrative (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
COMMON STOCK - Narrative (Details) - USD ($) $ in Millions	Apr. 30, 2024	Apr. 30, 2024	Apr. 30, 2023	Dec. 13, 2023
Stockholders' Equity Note [Abstract]
Expansion of existing share repurchase program				$ 150
Remaining amount of authorized repurchases of common stock	$ 186.5	$ 186.5
Shares repurchased under share repurchase program (in shares)	560,000	560,000	0

COMMON STOCK- Schedule of Repur

COMMON STOCK- Schedule of Repurchase Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	6 Months Ended
	Apr. 30, 2024	Apr. 30, 2024	Apr. 30, 2023
Stockholders' Equity Note [Abstract]
Total number of shares purchased (in shares)	560,000	560,000	0
Average price paid per share (in USD per share)	$ 42.84	$ 42.84
Total cash paid for share repurchases	$ 23,800	$ 23,800

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details)	Apr. 30, 2024 USD ($)
Loss Contingencies [Line Items]
Standby letters of credit	$ 57,900,000
Surety bonds and surety-backed letters of credit	814,200,000
Minimum
Loss Contingencies [Line Items]
Amount of reasonably possible loss	0
Maximum
Loss Contingencies [Line Items]
Amount of reasonably possible loss	5,100,000
Pending Litigation
Loss Contingencies [Line Items]
Loss contingency accrual	14,000,000
Energy Savings Contracts
Loss Contingencies [Line Items]
Guarantee obligation	$ 233,900,000

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
INCOME TAXES (Details) - USD ($) $ in Millions	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2024	Apr. 30, 2023
Income Tax Disclosure [Abstract]
Effective income tax rate	(29.90%)	28.20%	24%	27.60%
Provisions for taxes	$ 18.7	$ 20.4	$ 28	$ 34.5
Effective tax rate benefit from uncertain tax positions			(2.4)
Effective tax rate benefit from share-based compensation			(2.2)	$ (1.4)
Effective tax rate benefit from return to provision adjustments			$ (2.2)

SEGMENT INFORMATION (Details)

SEGMENT INFORMATION (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
SEGMENT INFORMATION (Details) - USD ($) $ in Millions	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2024	Apr. 30, 2023
Revenues
Total Revenues	$ 2,018.2	$ 1,984	$ 4,087.8	$ 3,975.3
Operating profit
Total operating profit	81.3	92.7	155.4	164.1
Income from unconsolidated affiliates	1.7	0.6	3	1.7
Interest expense	(20.6)	(21.1)	(41.9)	(40.9)
Income before income taxes	62.4	72.3	116.4	125
Business & Industry
Revenues
Total Revenues	989.6	998.5	2,022.8	2,035
Manufacturing & Distribution
Revenues
Total Revenues	388.6	373.2	789.5	753.7
Education
Revenues
Total Revenues	225.6	216.7	445.7	431.6
Aviation
Revenues
Total Revenues	238.2	227.2	487.8	439.5
Technical Solutions
Revenues
Total Revenues	176.2	168.4	342.1	315.5
Operating Segments \| Business & Industry
Operating profit
Total operating profit	77.6	76.2	157.2	152.2
Operating Segments \| Manufacturing & Distribution
Operating profit
Total operating profit	43.6	40.8	85	81.7
Operating Segments \| Education
Operating profit
Total operating profit	11.5	11.8	24.3	23.6
Operating Segments \| Aviation
Operating profit
Total operating profit	13.1	23.6	22.8	31.9
Operating Segments \| Technical Solutions
Operating profit
Total operating profit	17	10.2	23.5	17.4
Corporate
Operating profit
Total operating profit	(79.7)	(69.2)	(154.4)	(140.8)
Segment Reconciling Items
Operating profit
Income from unconsolidated affiliates	(1.7)	(0.6)	(3)	(1.7)
Adjustment for tax deductions for energy efficient government buildings, included in Technical Solutions	$ 0	$ 0	$ 0	$ (0.1)