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Income Taxes (Tables) | 12 Months Ended
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Nov. 02, 2024
Income Tax Disclosure [Abstract] |
Schedule of income tax provision reconciliation | The reconciliation of income tax computed at the U.S. federal statutory rates to income tax expense for fiscal 2024, fiscal 2023 and fiscal 2022 is as follows:
| 2024 |  | 2023 |  | 2022
U.S. federal statutory tax rate | 21.0 | % |  | 21.0 | % |  | 21.0 | %
Income tax provision reconciliation: |  |  |  |  |
Tax at statutory rate | $ | 373,241 |  |  | $ | 757,681 |  |  | $ | 650,737 |
Net foreign income subject to lower tax rate | (219,294) |  |  | (358,944) |  |  | (358,725) |
State income taxes, net of federal benefit | (10,646) |  |  | 4,453 |  |  | (15,615) |
Valuation allowance | 10,615 |  |  | (6,641) |  |  | 29,737 |
Federal research and development tax credits | (53,420) |  |  | (65,391) |  |  | (58,625) |
Change in uncertain tax positions | (19,514) |  |  | 17,985 |  |  | 19,394 |
Amortization of purchased intangibles | 114,679 |  |  | 142,358 |  |  | 142,375 |
Taxes attributable to the Tax Cuts and Jobs Act of 2017 | (3,977) |  |  | (81,695) |  |  | — |
U.S. effects of international operations | (6,300) |  |  | (98,286) |  |  | (47,665) |
Windfalls (under ASU 2016-09) | (22,985) |  |  | (24,211) |  |  | (16,717) |
Other, net | (20,332) |  |  | 6,115 |  |  | 5,292 |
Total income tax provision | $ | 142,067 |  |  | $ | 293,424 |  |  | $ | 350,188 |
Schedule of income before income tax domestic and foreign | Income before income taxes for fiscal 2024, fiscal 2023 and fiscal 2022 includes the following components:
Income before income taxes (1) | 2024 |  | 2023 |  | 2022
Domestic | $ | 517,555 |  |  | $ | 846,592 |  |  | $ | 958,465 |
Foreign | 1,259,785 |  |  | 2,761,411 |  |  | 2,140,284 |
Income before income taxes | $ | 1,777,340 |  |  | $ | 3,608,003 |  |  | $ | 3,098,749 |
_______________________________________ (1)Income before income taxes reflects deemed intercompany royalties in all periods presented.
Schedule of components of the provision for income taxes | The components of the provision for income taxes for fiscal 2024, fiscal 2023 and fiscal 2022 are as follows:
| 2024 |  | 2023 |  | 2022
Current: |  |  |  |  |
Federal tax | $ | 348,144 |  |  | $ | 303,146 |  |  | $ | 304,556 |
State | 14,399 |  |  | 11,772 |  |  | 13,214 |
Foreign | 147,087 |  |  | 431,452 |  |  | 359,173 |
Total current | $ | 509,630 |  |  | $ | 746,370 |  |  | $ | 676,943 |
Deferred: |  |  |  |  |
Federal | $ | (492,578) |  |  | $ | (508,741) |  |  | $ | (341,777) |
State | 3,579 |  |  | 2,063 |  |  | (612) |
Foreign | 121,436 |  |  | 53,732 |  |  | 15,634 |
Total deferred | $ | (367,563) |  |  | $ | (452,946) |  |  | $ | (326,755) |
Provision for income tax | $ | 142,067 |  |  | $ | 293,424 |  |  | $ | 350,188 |
Schedule of deferred tax assets and liabilities | The significant components of the Company’s deferred tax assets and liabilities for fiscal 2024 and fiscal 2023 are as follows:
| 2024 |  | 2023
Deferred tax assets: |  |  |
Inventory reserves | $ | 29,139 |  |  | $ | 20,159 |
Reserves for compensation and benefits | 48,801 |  |  | 57,603 |
Tax credit carryovers | 318,469 |  |  | 313,891 |
Stock-based compensation | 22,290 |  |  | 10,734 |
Net operating losses | 41,340 |  |  | 42,825 |
Intangible assets | 1,871,218 |  |  | 1,955,752 |
Lease liability | 74,715 |  |  | 82,305 |
Capitalization of R&D expenses (1) | 624,682 |  |  | 421,485 |
Other | 71,049 |  |  | 88,164 |
Total gross deferred tax assets | 3,101,703 |  |  | 2,992,918 |
Valuation allowance | (343,079) |  |  | (332,464) |
Total deferred tax assets | 2,758,624 |  |  | 2,660,454 |
Deferred tax liabilities: |  |  |
Depreciation | (139,556) |  |  | (122,125) |
Deferred GILTI tax liabilities | (2,442,068) |  |  | (2,654,817) |
Right of use asset | (53,303) |  |  | (60,343) |
Acquisition-related intangibles | (664,337) |  |  | (727,749) |
Total gross deferred tax liabilities | (3,299,264) |  |  | (3,565,034) |
Net deferred tax liabilities | $ | (540,640) |  |  | $ | (904,580) |
_______________________________________________ (1) The Company included the effects of the mandatory capitalization and amortization of research and development expenses which began in fiscal 2023 under the Tax Cuts and Jobs Act.
Schedule of changes unrealized tax benefits | The following table summarizes the changes in the total amounts of unrealized tax benefits for fiscal 2022 through fiscal 2024:
| Unrealized Tax Benefits
Balance, October 30, 2021 | $ | 132,521 |
Additions for tax positions related to the Acquisition | 15,267 |
Additions for tax positions related to current year | 11,800 |
Additions for tax positions related to prior years | 9,704 |
Reductions due to lapse of applicable statute of limitations | (3,965) |
Balance, October 29, 2022 | $ | 165,327 |
Additions for tax positions related to current year | 5,895 |
Additions for tax positions related to prior years | 17,096 |
Reductions due to lapse of applicable statute of limitations | (903) |
Balance, October 28, 2023 | $ | 187,415 |
Additions for tax positions related to current year | 5,793 |
Reductions for tax positions related to prior years | (27,499) |
Reductions due to lapse of applicable statute of limitations | (3,013) |
Balance, November 2, 2024 | $ | 162,696 |

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