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Income Taxes (Tables) | 12 Months Ended
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Oct. 29, 2023
Income Tax Disclosure [Abstract] |
Schedule of components of provision for income taxes | The components of the Provision for Income Taxes are as follows:
| Fiscal Year Ended
In thousands |  | October 29, 2023 |  | October 30, 2022 |  | October 31, 2021
Current |  |  |  |  |  |
U.S. Federal |  | $ | 161,016 |  |  | $ | 67,638 |  |  | $ | 171,732 |
State |  | 20,166 |  |  | 20,054 |  |  | 7,541 |
Foreign |  | 7,576 |  |  | 13,185 |  |  | 9,079 |
Total Current |  | 188,758 |  |  | 100,877 |  |  | 188,352 |
Deferred |  |  |  |  |  |
U.S. Federal |  | 23,221 |  |  | 164,091 |  |  | 23,507 |
State |  | 8,602 |  |  | 13,638 |  |  | 2,220 |
Foreign |  | (29) |  |  | (729) |  |  | 2,950 |
Total Deferred |  | 31,794 |  |  | 177,000 |  |  | 28,677 |
Total Provision for Income Taxes |  | $ | 220,552 |  |  | $ | 277,877 |  |  | $ | 217,029 |
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 29, 2023 |  | October 30, 2022
Deferred Tax Liabilities |  |  |  |
Goodwill and Intangible Assets |  | $ | (477,282) |  |  | $ | (404,295) |
Tax over Book Depreciation and Basis Differences |  | (233,802) |  |  | (246,411) |
Other, net |  | (33,105) |  |  | (21,467) |
Deferred Tax Assets |  |  |  |
Pension and Other Post-retirement Benefits |  | 42,952 |  |  | 42,794 |
Employee Compensation Related Liabilities |  | 65,958 |  |  | 65,461 |
Marketing and Promotional Accruals |  | 16,972 |  |  | 29,045 |
Inventory |  | 46,856 |  |  | 10,368 |
Other, net |  | 75,562 |  |  | 51,966 |
Net Deferred Tax (Liabilities) Assets |  | $ | (495,889) |  |  | $ | (472,539) |
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:
| Fiscal Year Ended
|  | October 29, 2023 |  | October 30, 2022 |  | October 31, 2021
U.S. Statutory Rate |  | 21.0 | % |  | 21.0 | % |  | 21.0 | %
State Taxes on Income, Net of Federal Tax Benefit |  | 2.5 |  |  | 2.4 |  |  | 0.8 |
Stock-based Compensation |  | (0.1) |  |  | (1.5) |  |  | (1.6) |
Foreign-derived Intangible Income Deduction |  | (1.3) |  |  | (0.4) |  |  | (0.4) |
All Other, net |  | (0.3) |  |  | 0.2 |  |  | (0.5) |
Effective Tax Rate |  | 21.8 | % |  | 21.7 | % |  | 19.3 | %
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 2023 and 2022.
In thousands |  |
Balance as of October 31, 2021 |  | $ | 22,092 |
Tax Positions Related to the Current Period |  |
Increases |  | 3,618 |
Tax Positions Related to Prior Periods |  |
Increases |  | 1,890 |
Decreases |  | (1,789) |
Settlements |  | (2,509) |
Decreases Related to a Lapse of Applicable Statute of Limitations |  | (3,782) |
Balance as of October 30, 2022 |  | $ | 19,520 |
Tax Positions Related to the Current Period |  |
Increases |  | 3,876 |
Tax Positions Related to Prior Periods |  |
Increases |  | 2,131 |
Decreases |  | (1,708) |
Settlements |  | (811) |
Decreases Related to a Lapse of Applicable Statute of Limitations |  | (3,881) |
Balance as of October 29, 2023 |  | $ | 19,127 |

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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 -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-2 + 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 -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 12 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-12 + 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 -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-15 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15A -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-15A Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 19 -SubTopic 10 -Topic 740 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-19 + Details
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