XML 60 R43.htm IDEA: XBRL DOCUMENT
v3.24.4

INCOME TAXES (Tables) | 12 Months Ended
--- | ---
Oct. 31, 2024
Income Tax Disclosure [Abstract] |
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block] | The components of income before income taxes and noncontrolling interests are as follows (in thousands):
| Year ended October 31,
| 2024 |  | 2023 |  | 2022
Domestic | $596,060 |  |  | $479,990 |  |  | $429,329 |
Foreign | 81,526 |  |  | 75,293 |  |  | 61,694 |
Income before taxes and noncontrolling interests | $677,586 |  |  | $555,283 |  |  | $491,023 |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | The components of the provision for income taxes on income before income taxes and noncontrolling interests are as follows (in thousands):
| Year ended October 31,
| 2024 |  | 2023 |  | 2022
Current: |  |  |  |  |
Federal | $97,164 |  |  | $96,492 |  |  | $63,861 |
State | 19,195 |  |  | 18,225 |  |  | 13,015 |
Foreign | 24,143 |  |  | 22,714 |  |  | 14,648 |
| 140,502 |  |  | 137,431 |  |  | 91,524 |
Deferred: |  |  |  |  |
Federal | (17,038) |  |  | (19,049) |  |  | 8,154 |
State | (2,911) |  |  | (4,311) |  |  | 1,129 |
Foreign | (2,053) |  |  | (3,171) |  |  | (407) |
| (22,002) |  |  | (26,531) |  |  | 8,876 |
Total income tax expense | $118,500 |  |  | $110,900 |  |  | $100,400 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | A reconciliation of the federal statutory income tax rate to the Company’s effective tax rate is as follows:
| Year ended October 31,
| 2024 |  | 2023 |  | 2022
Federal statutory income tax rate | 21.0 | % |  | 21.0 | % |  | 21.0 | %
State taxes, net of federal income tax benefit | 2.5 | % |  | 2.5 | % |  | 2.6 | %
Foreign-derived intangible income deduction | (2.4 | %) |  | (1.9 | %) |  | (1.9 | %)
Tax-exempt (gains) losses on corporate-owned life insurance policies | (2.3 | %) |  | (.6 | %) |  | 2.8 | %
Research and development tax credits | (2.1 | %) |  | (1.9 | %) |  | (1.5 | %)
Tax benefit related to stock option exercises | (2.0 | %) |  | (1.1 | %) |  | (3.6 | %)
Nondeductible compensation | 2.2 | % |  | 1.4 | % |  | 1.2 | %
Other, net | .6 | % |  | .6 | % |  | (.2 | %)
Effective tax rate | 17.5 | % |  | 20.0 | % |  | 20.4 | %
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | Significant components of the Company’s deferred tax assets and liabilities are as follows (in thousands):
| As of October 31,
| 2024 |  | 2023
Deferred tax assets: |  |  |
Inventories | $92,498 |  |  | $85,560 |
Deferred compensation plan liability | 57,016 |  |  | 44,882 |
Capitalized research and development costs | 48,820 |  |  | 29,142 |
Operating lease liabilities | 28,270 |  |  | 26,771 |
Share-based compensation | 11,387 |  |  | 10,665 |
Performance-based compensation accrual | 8,183 |  |  | 6,632 |
Contract liabilities (deferred revenue) | 6,146 |  |  | 2,885 |
Interest expense limitation carryforward | 4,869 |  |  | 24,770 |
Other | 16,788 |  |  | 19,092 |
Total deferred tax assets | 273,977 |  |  | 250,399 |
Deferred tax liabilities: |  |  |
Goodwill and other intangible assets | (330,624) |  |  | (324,774) |
Property, plant and equipment | (27,701) |  |  | (28,533) |
Operating lease right-of-use assets | (26,766) |  |  | (25,620) |
Other | (3,042) |  |  | (3,318) |
Total deferred tax liabilities | (388,133) |  |  | (382,245) |
Net deferred tax liability | ($114,156) |  |  | ($131,846) |
Schedule of Unrecognized Tax Benefits Roll Forward | A reconciliation of the activity related to the liability for gross unrecognized tax benefits during fiscal 2024 and 2023 is as follows (in thousands):
| Year ended October 31,
| 2024 |  | 2023
Balances as of beginning of year | $4,363 |  |  | $3,503 |
Increases related to current year tax positions | 2,521 |  |  | 1,356 |
Increases related to prior year tax positions | 88 |  |  | 214 |
Lapses of statutes of limitations | (521) |  |  | (710) |
Balance as of end of year | $6,451 |  |  | $4,363 |

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-9 + Details
Name: | us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-2 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 231 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482663/740-10-55-231 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12A -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12A Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of income before income tax between domestic and foreign jurisdictions. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(h)(1)(Note 1)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1 + Details
Name: | us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the change in unrecognized tax benefits. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 217 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482663/740-10-55-217 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15A -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-15A + Details
Name: | us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration