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Income Taxes (Tables) | 12 Months Ended
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Oct. 31, 2023
Income Tax Disclosure [Abstract] |
Schedule of Earnings before Income Taxes | Earnings before income taxes were as follows (dollars in millions):
Fiscal Years Ended October 31 |  | 2023 |  | 2022 |  | 2021
Earnings before income taxes: |  |  |  |  |  |
United States |  | $ | 345.0 |  |  | $ | 491.3 |  |  | $ | 446.2 |
Foreign |  | 55.5 |  |  | 61.2 |  |  | 53.6 |
Total earnings before income taxes |  | $ | 400.5 |  |  | $ | 552.5 |  |  | $ | 499.8 |
Schedule of Reconciliation of the Statutory Federal Income Tax Rate to the Company's Consolidated Effective Tax Rate | A reconciliation of the statutory federal income tax rate to the company's effective tax rate is summarized as follows:
Fiscal Years Ended October 31 |  | 2023 |  | 2022 |  | 2021
Statutory federal income tax rate |  | 21.0 | % |  | 21.0 | % |  | 21.0 | %
Excess deduction for stock-based compensation |  | (1.1) |  |  | (0.4) |  |  | (1.5) |
State and local income taxes, net of federal benefit |  | 1.8 |  |  | 2.0 |  |  | 1.4 |
Foreign operations |  | (0.7) |  |  | (0.7) |  |  | (0.5) |
Federal research tax credit |  | (2.3) |  |  | (1.3) |  |  | (1.4) |
Foreign-derived intangible income |  | (1.1) |  |  | (0.7) |  |  | (0.9) |
Other, net |  | 0.1 |  |  | (0.1) |  |  | (0.1) |
Effective tax rate |  | 17.7 | % |  | 19.8 | % |  | 18.0 | %
Schedule of Components of the Provision for Income Taxes | Components of the company's provision for income taxes were as follows (dollars in millions):
Fiscal Years Ended October 31 |  | 2023 |  | 2022 |  | 2021
Current provision: |  |  |  |  |  |
Federal |  | $ | 94.4 |  |  | $ | 94.7 |  |  | $ | 90.2 |
State |  | 17.0 |  |  | 19.1 |  |  | 16.0 |
Foreign |  | 7.3 |  |  | 7.7 |  |  | 9.2 |
Total current provision |  | $ | 118.7 |  |  | $ | 121.5 |  |  | $ | 115.4 |
Deferred (benefit) provision: |  |  |  |  |  |
Federal |  | $ | (37.8) |  |  | $ | (7.4) |  |  | $ | (18.4) |
State |  | (10.3) |  |  | (4.9) |  |  | (6.5) |
Foreign |  | 0.2 |  |  | — |  |  | (0.6) |
Total deferred benefit |  | (47.9) |  |  | (12.3) |  |  | (25.5) |
Total provision for income taxes |  | $ | 70.8 |  |  | $ | 109.2 |  |  | $ | 89.9 |
Schedule of Tax Effects of Temporary Differences that Give Rise to the Net Deferred Income Tax Assets | The components of the company's deferred income tax assets and liabilities were as follows (dollars in millions):
Fiscal Years Ended October 31 |  | 2023 |  | 2022
Deferred income tax assets: |  |  |  |
Compensation and benefits |  | $ | 32.5 |  |  | $ | 32.9 |
Warranty and insurance |  | 37.6 |  |  | 35.4 |
Lease liabilities |  | 35.3 |  |  | 20.2 |
Advertising and sales promotions and incentives |  | 16.5 |  |  | 7.2 |
Inventory |  | 14.4 |  |  | 36.4 |
Deferred revenue |  | 0.3 |  |  | 3.3 |
Other |  | 3.0 |  |  | — |
Net operating losses and other carryforwards |  | 5.3 |  |  | 6.4 |
Research and Experimentation |  | 35.4 |  |  | — |
Valuation allowance |  | (3.3) |  |  | (3.2) |
Deferred income tax assets |  | $ | 177.0 |  |  | $ | 138.6 |
Deferred income tax liabilities: |  |  |  |
Right-of-use assets |  | $ | (34.8) |  |  | $ | (19.5) |
Depreciation |  | (60.0) |  |  | (51.9) |
Amortization |  | (68.4) |  |  | (102.4) |
Other |  | — |  |  | (3.8) |
Deferred income tax liabilities |  | (163.2) |  |  | (177.6) |
Deferred income tax assets (liabilities), net |  | $ | 13.8 |  |  | $ | (39.0) |
Schedule of Reconciliation of the Beginning and Ending Amount of Unrecognized Tax Benefits | A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (dollars in millions):
Unrecognized tax benefits as of October 31, 2022 |  | $ | 3.3 |
Increase as a result of tax positions taken during a prior period |  | 0.2 |
Increase as a result of tax positions taken during the current period |  | 0.6 |
Reductions as a result of statute of limitations lapses |  | (0.4) |
Unrecognized tax benefits as of October 31, 2023 |  | $ | 3.7 |

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