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Income Taxes (Tables) | 12 Months Ended
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Oct. 25, 2020
Income Tax Disclosure [Abstract] |
Schedule of components of provision for income taxes | The components of the Provision for Income Taxes are as follows:
(in thousands) |  | 2020 |  | 2019 |  | 2018
Current |  |  |  |  |  |
U.S. Federal |  | $ | 142,708 |  |  | $ | 161,233 |  |  | $ | 134,869 |
State |  | 13,353 |  |  | 30,774 |  |  | 27,782 |
Foreign |  | 18,293 |  |  | 9,919 |  |  | 13,492 |
Total Current |  | 174,354 |  |  | 201,926 |  |  | 176,143 |
Deferred |  |  |  |  |  |
U.S. Federal |  | 34,408 |  |  | 27,817 |  |  | (15,573) |
State |  | 4,937 |  |  | 1,473 |  |  | 10,975 |
Foreign |  | (7,306) |  |  | (649) |  |  | (2,843) |
Total Deferred |  | 32,039 |  |  | 28,641 |  |  | (7,441) |
Total Provision for Income Taxes |  | $ | 206,393 |  |  | $ | 230,567 |  |  | $ | 168,702 |
Schedule of significant components of the deferred income tax liabilities and assets | Significant components of the deferred income tax liabilities and assets are as follows:
(in thousands) |  | October 25, 2020 |  | October 27, 2019
Deferred Tax Liabilities |  |  |  |
Goodwill and Intangible Assets |  | $ | (269,218) |  |  | $ | (240,935) |
Tax over Book Depreciation and Basis Differences |  | (164,911) |  |  | (153,104) |
Other, net |  | (24,316) |  |  | (11,844) |
Deferred Tax Assets |  |  |  |
Pension and Other Post-retirement Benefits |  | 97,129 |  |  | 105,948 |
Employee Compensation Related Liabilities |  | 65,024 |  |  | 65,887 |
Marketing and Promotional Accruals |  | 20,783 |  |  | 15,581 |
Other, net |  | 62,302 |  |  | 41,893 |
Net Deferred Tax (Liabilities) Assets |  | $ | (213,207) |  |  | $ | (176,574) |
Schedule of reconciliation of the statutory federal income tax rate to the effective tax rate | Reconciliation of the statutory federal income tax rate to the Company’s effective tax rate is as follows:
|  | 2020 |  | 2019 |  | 2018
U.S. Statutory Rate |  | 21.0 | % |  | 21.0 | % |  | 23.4 | %
State Taxes on Income, Net of Federal Tax Benefit |  | 1.6 |  |  | 2.5 |  |  | 2.6 |
Domestic Production Activities Deduction |  | — |  |  | — |  |  | (1.5) |
Divestitures |  | — |  |  | (1.4) |  |  | — |
Provisional Tax Law Change |  | — |  |  | — |  |  | (6.3) |
Stock-based Compensation |  | (3.1) |  |  | (2.2) |  |  | (3.4) |
All Other, net |  | (1.0) |  |  | (0.8) |  |  | (0.5) |
Effective Tax Rate |  | 18.5 | % |  | 19.1 | % |  | 14.3 | %
Schedule of changes in the unrecognized tax benefits, excluding interest and penalties | The following table sets forth changes in the unrecognized tax benefits, excluding interest and penalties, for fiscal years 2020 and 2019.
(in thousands) |  |
Balance as of October 28, 2018 |  | $ | 33,117 |
Tax Positions Related to the Current Period |  |
Increases |  | 4,885 |
Tax Positions Related to Prior Periods |  |
Increases |  | 2,997 |
Decreases |  | (9,585) |
Settlements |  | (927) |
Decreases Related to a Lapse of Applicable Statute of Limitations |  | (2,661) |
Balance as of October 27, 2019 |  | $ | 27,826 |
Tax Positions Related to the Current Period |  |
Increases |  | 3,177 |
Tax Positions Related to Prior Periods |  |
Increases |  | 8,299 |
Decreases |  | (2,549) |
Settlements |  | (1,107) |
Decreases Related to a Lapse of Applicable Statute of Limitations |  | (2,404) |
Balance as of October 25, 2020 |  | $ | 33,242 |

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- 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32639-109319 + Details
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- 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32537-109319 + Details
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- 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32687-109319 + Details
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- Definition Tabular disclosure for tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities and other income tax contingencies. Includes, but is not limited to, interest and penalties, reconciliation of unrecognized tax benefits, unrecognized tax benefits that would affect the effective tax rate, tax years that remain subject to examination by tax jurisdictions, and information about positions for which it is reasonably possible that amounts unrecognized will significantly change within 12 months. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15A -URI http://asc.fasb.org/extlink&oid=84230637&loc=SL6600010-109319 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32718-109319 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 19 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32840-109319 + Details
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