XML 58 R42.htm IDEA: XBRL DOCUMENT
v3.24.3

Income Taxes (Tables) | 12 Months Ended
--- | ---
Oct. 27, 2024
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 27, 2024 |  | October 29, 2023 |  | October 30, 2022
Current |  |  |  |  |  |
U.S. Federal |  | $ | 110,928 |  |  | $ | 161,016 |  |  | $ | 67,638 |
State |  | 17,002 |  |  | 20,166 |  |  | 20,054 |
Foreign |  | 15,203 |  |  | 7,576 |  |  | 13,185 |
Total Current |  | 143,133 |  |  | 188,758 |  |  | 100,877 |
Deferred |  |  |  |  |  |
U.S. Federal |  | 74,461 |  |  | 23,221 |  |  | 164,091 |
State |  | 14,868 |  |  | 8,602 |  |  | 13,638 |
Foreign |  | (1,659) |  |  | (29) |  |  | (729) |
Total Deferred |  | 87,670 |  |  | 31,794 |  |  | 177,000 |
Total Provision for Income Taxes |  | $ | 230,803 |  |  | $ | 220,552 |  |  | $ | 277,877 |
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 27, 2024 |  | October 29, 2023
Deferred Tax Liabilities |  |  |  |
Goodwill and Intangible Assets |  | $ | (556,263) |  |  | $ | (477,282) |
Tax over Book Depreciation and Basis Differences |  | (211,554) |  |  | (233,802) |
Other, net |  | (39,618) |  |  | (33,105) |
Deferred Tax Assets |  |  |  |
Pension and Other Post-retirement Benefits |  | 50,078 |  |  | 42,952 |
Employee Compensation Related Liabilities |  | 70,339 |  |  | 65,958 |
Marketing and Promotional Accruals |  | 9,833 |  |  | 16,972 |
Inventory |  | 6,853 |  |  | 46,856 |
Other, net |  | 84,733 |  |  | 75,562 |
Net Deferred Tax (Liabilities) Assets |  | $ | (585,599) |  |  | $ | (495,889) |
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 27, 2024 |  | October 29, 2023 |  | October 30, 2022
U.S. Statutory Rate |  | 21.0 | % |  | 21.0 | % |  | 21.0 | %
State Taxes on Income, Net of Federal Tax Benefit |  | 2.6 |  |  | 2.5 |  |  | 2.4 |
Stock-based Compensation |  | (0.1) |  |  | (0.1) |  |  | (1.5) |
Foreign-derived Intangible Income Deduction |  | — |  |  | (1.3) |  |  | (0.4) |
All Other, net |  | (1.2) |  |  | (0.3) |  |  | 0.2 |
Effective Tax Rate |  | 22.3 | % |  | 21.8 | % |  | 21.7 | %
Schedule of changes in the unrecognized tax benefits, excluding interest and penalties | The changes in unrecognized tax benefits, excluding interest and penalties, for fiscal years 2024 and 2023 are as follows:
In thousands |  |
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 |
Tax Positions Related to the Current Period |  |
Increases |  | 3,151 |
Tax Positions Related to Prior Periods |  |
Increases |  | 1,449 |
Decreases |  | (443) |
Settlements |  | (2,341) |
Decreases Related to a Lapse of Applicable Statute of Limitations |  | (3,183) |
Balance as of October 27, 2024 |  | $ | 17,760 |

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 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