Quarterly Financial Data (Unaudited)

12 Months Ended

Oct. 31, 2019

Quarterly Financial Information Disclosure [Abstract]

Note 17 — Quarterly financial data (unaudited)

	First		Second		Third		Fourth
2019:
Sales	$	497,910	$	551,119	$	559,746	$	585,451
Gross margin		268,976		301,529		302,623		318,975
Net income		48,567		91,923		93,928		102,673
Earnings per share:
Basic		0.84		1.60		1.64		1.79
Diluted		0.83		1.58		1.62		1.76
2018:
Sales	$	550,424	$	553,706	$	581,243	$	569,295
Gross margin		300,973		307,015		320,476		307,864
Net income		104,555		91,235		94,884		86,702
Earnings per share:
Basic		1.81		1.57		1.63		1.49
Diluted		1.78		1.55		1.61		1.47

The sum of the per-share amounts for the four quarters may not always equal the annual per-share amounts due to differences in the average number of shares outstanding during the respective periods. The sum of other amounts for the four quarters may not always equal the annual amounts due to rounding.

During the first quarter of 2019, we recorded a discrete tax expense of $4,866 related to the Act. During the first quarter of 2018, we recorded discrete items to income tax expense as a result of the Act. Refer to Note 7 for additional information.