Income Taxes (Tables)
 12 Months Ended
Oct. 31, 2016
Income Tax Disclosure [Abstract]  
Provision for Income Taxes
The provision for income taxes consists of the following (Dollars in millions):
For the years ended October 31,
2016
 
2015
 
2014
Current
 
 
 
 
 
Federal
$
20.3

 
$
18.3

 
$
53.1

State and local
4.4

 
4.0

 
9.8

Non-U.S.
40.3

 
29.6

 
38.0

 
65.0

 
51.9

 
100.9

Deferred
 
 
 
 
 
Federal
0.5

 
2.4

 
2.7

State and local
0.5

 
0.2

 
(1.6
)
Non-U.S.
0.5

 
(6.1
)
 
13.0

 
1.5

 
(3.5
)
 
14.1

 
$
66.5

 
$
48.4

 
$
115.0
Reconciliation of Effective Income Tax Rate
The following is a reconciliation of the provision for income taxes based on the federal statutory rate to the Company’s effective income tax rate:
 
For the years ended October 31,
2016
 
2015
 
2014
Federal statutory rate
35.00
 %
 
35.00
 %
 
35.00
 %
Impact of foreign tax rate differential
(11.15
)%
 
(10.10
)%
 
(2.40
)%
State and local taxes, net of federal tax benefit
2.19
 %
 
2.80
 %
 
4.20
 %
Net impact of changes in valuation allowances
1.91
 %
 
3.00
 %
 
12.70
 %
Venezuela balance sheet remeasurement
—
 %
 
5.90
 %
 
—
 %
Non-deductible write-off and impairment of goodwill and other intangible assets
7.37
 %
 
2.50
 %
 
15.60
 %
Unrecognized tax benefits
4.84
 %
 
2.50
 %
 
7.20
 %
Permanent book-tax differences
(4.78
)%
 
(0.50
)%
 
(3.10
)%
Withholding taxes
4.64
 %
 
2.70
 %
 
2.90
 %
Other items, net
7.08
 %
 
(1.60
)%
 
0.70
 %
 
47.10
 %
 
42.20
 %
 
72.80
 %
Significant Components of Company's Deferred Tax Assets and Liabilities
The components of the Company’s deferred tax assets and liabilities as of October 31 for the years indicated were as follows (Dollars in millions):
 
 
2016
 
2015
Deferred Tax Assets
 
 
 
Net operating loss and other carryforwards
$
83.0

 
$
80.8

Pension liabilities
57.0

 
53.6

Insurance operations
2.7

 
3.5

Incentive liabilities
8.0

 
5.4

Environmental reserves
1.3

 
0.4

Inventories
7.8

 
6.5

State income taxes
7.0

 
7.4

Postretirement benefit obligations
3.1

 
3.5

Other
9.1

 
11.3

Interest accrued
1.2

 
1.6

Allowance for doubtful accounts
1.9

 
3.4

Restructuring reserves
1.1

 
6.0

Deferred compensation
3.8

 
2.9

Foreign tax credits
2.4

 
2.3

Vacation accruals
1.5

 
1.5

Workers compensation accruals
6.7

 
3.5

Total Deferred Tax Assets
197.6

 
193.6

Valuation allowance
(92.1
)
 
(89.5
)
Net Deferred Tax Assets
105.5

 
104.1

Deferred Tax Liabilities
 
 
 
Properties, plants and equipment
86.5

 
84.7

Goodwill and other intangible assets
80.4

 
80.1

Foreign income inclusion
1.1

 
1.1

Foreign exchange gains
5.7

 
6.1

Timberland transactions
115.8

 
116.2

Total Deferred Tax Liabilities
289.5

 
288.2

Net Deferred Tax Liability
$
(184.0
)
 
$
(184.1
)
Reconciliation of Unrecognized Tax Benefits
A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:
 
 
2016
 
2015
 
2014
Balance at November 1
$
29.6

 
$
34.3

 
$
30.5

Increases in tax positions for prior years
5.7

 
8.5

 
5.7

Decreases in tax positions for prior years
(10.5
)
 
(2.2
)
 
(8.2
)
Increases in tax positions for current years
6.9

 
6.2

 
10.3

Settlements with taxing authorities
—

 
(5.7
)
 
(0.6
)
Lapse in statute of limitations
(2.6
)
 
(6.2
)
 
(0.8
)
Currency translation
0.6

 
(5.3
)
 
(2.6
)
Balance at October 31
$
29.7

 
$
29.6

 
$
34.3