v3.26.1
Segment Data
 9 Months Ended
Jul. 31, 2026
Segment Reporting [Abstract]  
Segment Data
3Segment Data
The company's businesses are organized, managed, and internally grouped into segments based on similarities in products and services. Segment determination is based on the manner in which the Chief Operating Decision Maker "CODM" organizes segments for making operating and investment decisions and assessing performance. The company has identified eight operating segments and has aggregated certain of those operating segments into two reportable segments: Professional and Residential. The aggregation of the company's segments is based on the segments having the following similarities: economic characteristics, types of products and services, types of production processes, type or class of customers, and method of distribution. For a summary of the company's products by market for the company's Professional and Residential reportable segments, refer to Part I, Item 1, "Business," of the company’s Annual Report on Form 10-K for the fiscal year ended October 31, 2025.
The company's remaining activities consist of a wholly-owned domestic distribution company, certain corporate activities, and the elimination of intersegment revenues and expenses. Corporate activities include general corporate expenditures (finance, human resources, legal, information technology, public relations, business development, and similar activities) and other unallocated corporate assets and liabilities, such as corporate facilities, severance and termination benefits, facility exit costs, and deferred tax assets and liabilities. These remaining activities are presented as "Other" due to their insignificance.
The company's CODM is the Chairman of the Board and Chief Executive Officer. The CODM predominantly evaluates the performance of the company's segments using adjusted earnings before interest and taxes “segment profit/(loss)”. This metric provides the CODM with a comprehensive view of each segment’s profitability, enabling informed decision-making and effective resource allocation. The CODM regularly reviews segment profit/(loss) to monitor progress against performance targets, focusing on actual-to-plan variances. These assessments help identify trends, compare segment profitability, and determine whether additional resources or strategic adjustments are necessary to achieve performance goals. Additionally, the significant expense categories regularly reviewed by the CODM include cost of sales, selling, general and administrative expense, non-cash charges, such as impairment, and other income (expense) items. These other items consist of foreign currency gains and losses, interest income and expense, gains and losses from sales of fixed assets, and income and losses from equity method investments and business divestitures.
The accounting policies of the reportable business segments are the same as those described in the summary of significant accounting policies in Note 1, Summary of Significant Accounting Policies and Related Data of the company’s Annual Report on Form 10-K for the fiscal year ended October 31, 2025. The company evaluates the performance of its Professional and Residential reportable business segment results based on segment profit/(loss) which includes allocated expenses that these operations would have incurred otherwise, but does not include general corporate expenses, interest expense, and income taxes. Segment profit/(loss) for the company's Other activities includes earnings (loss) from a domestic wholly-owned distribution company, certain corporate activities, non-cash impairment charges, other income, and interest expense. The company accounts for intersegment gross sales at current market prices.
The following tables present summarized financial information concerning the company’s reportable business segments and Other activities (dollars in millions):
Three Months Ended July 31, 2026ProfessionalResidentialOtherTotal
Net sales from external customers$988.2 $209.2 $28.4 $1,225.8 
Intersegment gross sales (eliminations)24.4 0.1 (24.5)— 
Net sales1,012.6 209.3 3.9 1,225.8 
Cost of sales627.6 169.4 10.7 807.7 
Selling, general and administrative expense174.5 27.5 57.8 259.8 
Non-cash impairment charges1
— — 43.1 43.1 
Other income, net1.3 — 4.2 5.5 
Segment profit/(loss)$211.8 $12.4 $(103.5)$120.7 
Interest expense(13.8)
Provision for income taxes29.9 
Net earnings$77.0 
Nine Months Ended July 31, 2026ProfessionalResidentialOtherTotal
Net sales from external customers$2,882.2 $725.6 $79.0 $3,686.8 
Intersegment gross sales (eliminations)61.0 0.1 (61.1)— 
Net sales2,943.2 725.7 17.9 3,686.8 
Cost of sales1,836.8 578.6 34.1 2,449.5 
Selling, general and administrative expense536.0 91.6 169.3 796.9 
Non-cash impairment charges1
— — 43.1 43.1 
Other income, net3.4 0.4 18.9 22.7 
Segment profit/(loss)$573.8 $55.9 $(209.7)$420.0 
Interest expense(42.8)
Provision for income taxes86.9 
Net earnings$290.3 
Three Months Ended August 1, 2025ProfessionalResidentialOtherTotal
Net sales from external customers$913.3 $192.6 $25.4 $1,131.3 
Intersegment gross sales (eliminations)17.5 0.2 (17.7)— 
Net sales930.8 192.8 7.7 1,131.3 
Cost of sales576.1 161.0 12.4 749.5 
Selling, general and administrative expense157.6 28.8 49.5 235.9 
Non-cash impairment charge2
— — 81.1 81.1 
Other income, net1.4 0.7 6.0 8.1 
Segment profit/(loss)$198.5 $3.7 $(129.3)$72.9 
Interest expense(15.1)
Provision for income taxes4.3 
Net earnings$53.5 
Nine Months Ended August 1, 2025ProfessionalResidentialOtherTotal
Net sales from external customers$2,661.8 $711.0 $71.4 $3,444.2 
Intersegment gross sales (eliminations)51.9 0.2 (52.1)— 
Net sales2,713.7 711.2 19.3 3,444.2 
Cost of sales1,689.7 575.7 24.7 2,290.1 
Selling, general and administrative expense499.0 99.3 157.3 755.6 
Non-cash impairment charge2
— — 81.1 81.1 
Other income, net2.8 0.8 17.5 21.1 
Segment profit/(loss)$527.8 $37.0 $(226.3)$338.5 
Interest expense(45.9)
Provision for income taxes49.5 
Net earnings$243.1 
1    Other activities adjusted earnings (loss) before income taxes includes non-cash impairment charges of $43.1 million related to the planned closure of the Monterrey manufacturing facility and the write-down of assets associated with the exit of a residential mower platform. Both charges were recorded during the third quarter of fiscal 2026. For additional information regarding the non-cash impairment charges, refer to Note 8, Property, Plant, and Equipment, Net.
2 Other activities adjusted earnings (loss) before income taxes includes an $81.1 million non-cash impairment charge recorded during the third quarter of fiscal 2025 related to the Spartan trade name. For additional information regarding the impairment charge, refer to Note 5, Goodwill and Other Intangible Assets, Net.
Nine Months Ended July 31, 2026ProfessionalResidentialOtherTotal
Total assets$2,682.1 $400.3 $453.6 $3,536.0 
Depreciation and amortization$75.8 $12.9 $12.6 $101.3 
Nine Months Ended August 1, 2025ProfessionalResidentialOtherTotal
Total assets$2,518.6 $486.4 $514.8 $3,519.8 
Depreciation and amortization$68.1 $15.4 $14.6 $98.1