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Income Taxes (Tables) | 12 Months Ended
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Oct. 31, 2023
Income Tax Disclosure [Abstract] |
Income Tax Expense | Income before income taxes and income tax expense (benefit) are comprised of the following:
| 2023 |  | 2022 |  | 2021
Income before income taxes: |  |  |  |  |
Domestic | $ | 269,934 |  |  | $ | 302,549 |  |  | $ | 279,701 |
Foreign | 345,405 |  |  | 346,730 |  |  | 294,475 |
Total income before income taxes | $ | 615,339 |  |  | $ | 649,279 |  |  | $ | 574,176 |
Current: |  |  |  |  |
U.S. federal | $ | 54,157 |  |  | $ | 59,639 |  |  | $ | 40,879 |
State and local | 285 |  |  | 7,535 |  |  | 4,429 |
Foreign | 89,520 |  |  | 79,734 |  |  | 70,429 |
Total current | 143,962 |  |  | 146,908 |  |  | 115,737 |
Deferred: |  |  |  |  |
U.S. federal | (9,119) |  |  | (9,408) |  |  | 6,371 |
State and local | (1,279) |  |  | (596) |  |  | 1,470 |
Foreign | (5,718) |  |  | (728) |  |  | (3,770) |
Total deferred | (16,116) |  |  | (10,732) |  |  | 4,071 |
| $ | 127,846 |  |  | $ | 136,176 |  |  | $ | 119,808 |
Income Taxes Computed at the U.S. Statutory Rate and Income Tax | A reconciliation of the U.S. statutory federal rate to the worldwide consolidated effective tax rate follows:
| 2023 |  | 2022 |  | 2021
Statutory federal income tax rate | 21.00 | % |  | 21.00 | % |  | 21.00 | %
Share-based and other compensation | (0.25) |  |  | 0.26 |  |  | (0.30) |
Foreign tax rate variances | 1.83 |  |  | 0.95 |  |  | 0.84 |
State and local taxes, net of federal income tax benefit | (0.13) |  |  | 0.84 |  |  | 0.81 |
Foreign-Derived Intangible Income Deduction | (2.24) |  |  | (1.59) |  |  | (1.19) |
Global Intangible Low-Taxed Income net of foreign tax credits | 0.71 |  |  | 0.23 |  |  | 0.44 |
Other – net | (0.14) |  |  | (0.72) |  |  | (0.73) |
Effective tax rate | 20.78 | % |  | 20.97 | % |  | 20.87 | %
Unrecognized Tax Benefits | A reconciliation of the beginning and ending amount of unrecognized tax benefits for 2023, 2022 and 2021 is as follows:
| 2023 |  | 2022 |  | 2021
Gross balance at beginning of year | $ | 2,872 |  |  | $ | 3,720 |  |  | $ | 6,717 |
Additions based on tax positions related to the current year | 410 |  |  | 310 |  |  | 370 |
Additions for tax positions of prior years | 10 |  |  | — |  |  | — |
Increases related to acquired businesses | 6,602 |  |  | — |  |  | — |
Reductions for tax positions of prior years | — |  |  | (70) |  |  | (350) |
Lapse of statute of limitations | (1,892) |  |  | (1,088) |  |  | (3,017) |
Gross balance at end of year | $ | 8,002 |  |  | $ | 2,872 |  |  | $ | 3,720 |
Significant Components of Deferred Tax Assets and Liabilities |
| 2023 |  | 2022
Deferred tax assets: |  |  |
Lease Liabilities | $ | 26,678 |  |  | $ | 28,413 |
Employee benefits | 26,680 |  |  | 22,079 |
Tax credit and loss carryforwards | 28,667 |  |  | 11,336 |
Other accruals not currently deductible for taxes | 8,944 |  |  | 15,616 |
Inventory adjustments | 5,932 |  |  | 6,423 |
Total deferred tax assets | 96,901 |  |  | 83,867 |
Valuation allowance | (23,732) |  |  | (10,130) |
Total deferred tax assets | 73,169 |  |  | 73,737 |
Deferred tax liabilities: |  |  |
Depreciation and amortization | 238,210 |  |  | 145,285 |
Lease right-of-use assets | 25,925 |  |  | 27,548 |
Other - net | 3,649 |  |  | 1,238 |
Total deferred tax liabilities | 267,784 |  |  | 174,071 |
Net deferred tax liabilities | $ | (194,615) |  |  | $ | (100,334) |

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