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Income Taxes
3 Months Ended
Jan. 31, 2020
Income Tax Disclosure [Abstract]  
Income Taxes INCOME TAXES

On December 2, 2019, the U.S. Department of the Treasury released final regulations and proposed regulations under Section 59A, Base Erosion and Anti-Abuse Tax (“BEAT”). BEAT, which requires certain U.S. corporations to pay a minimum tax associated with deductible payments to non-U.S. related parties, was enacted by the Tax Cuts and Jobs Act (the “Tax Act”). Also, on December 2, 2019, the U.S. Department of the Treasury released final regulations that provide additional guidance with respect to the foreign tax credit regime under the Tax Act.

The effective tax rate for the three months ended January 31, 2020 was lower than the effective tax rate for the three months ended January 31, 2019, primarily due to the effect of the final regulations on December 2, 2019.