v3.25.3

Income Taxes (Tables) | 12 Months Ended
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Oct. 31, 2025
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 |  | 2025 |  | 2024 |  | 2023
Earnings before income taxes: |  |  |  |  |  |
United States |  | $ | 278.6 |  |  | $ | 436.6 |  |  | $ | 345.0 |
Foreign |  | 99.0 |  |  | 76.2 |  |  | 55.5 |
Total earnings before income taxes |  | $ | 377.6 |  |  | $ | 512.8 |  |  | $ | 400.5 |
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 |  | 2025 |  | 2024 |  | 2023
Statutory federal income tax rate |  | 21.0 | % |  | 21.0 | % |  | 21.0 | %
Excess deduction for stock-based compensation |  | (0.1) |  |  | (0.6) |  |  | (1.1) |
State and local income taxes, net of federal benefit |  | 1.6 |  |  | 2.2 |  |  | 1.8 |
Foreign operations |  | (2.2) |  |  | (1.2) |  |  | (0.7) |
Federal research tax credit |  | (2.5) |  |  | (1.9) |  |  | (2.3) |
Foreign-derived intangible income |  | (1.2) |  |  | (0.9) |  |  | (1.1) |
Other, net |  | (0.3) |  |  | (0.3) |  |  | 0.1 |
Effective tax rate |  | 16.3 | % |  | 18.3 | % |  | 17.7 | %
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 |  | 2025 |  | 2024 |  | 2023
Current provision: |  |  |  |  |  |
Federal |  | $ | 91.6 |  |  | $ | 94.9 |  |  | $ | 94.4 |
State |  | 15.6 |  |  | 18.5 |  |  | 17.0 |
Foreign |  | 13.0 |  |  | 8.4 |  |  | 7.3 |
Total current provision |  | $ | 120.2 |  |  | $ | 121.8 |  |  | $ | 118.7 |
Deferred (benefit) provision: |  |  |  |  |  |
Federal |  | $ | (48.6) |  |  | $ | (23.6) |  |  | $ | (37.8) |
State |  | (8.2) |  |  | (4.6) |  |  | (10.3) |
Foreign |  | (1.9) |  |  | 0.3 |  |  | 0.2 |
Total deferred benefit |  | (58.7) |  |  | (27.9) |  |  | (47.9) |
Total provision for income taxes |  | $ | 61.5 |  |  | $ | 93.9 |  |  | $ | 70.8 |
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 |  | 2025 |  | 2024
Deferred income tax assets: |  |  |  |
Research and experimentation |  | $ | 86.0 |  |  | $ | 64.6 |
Warranty and insurance |  | 40.1 |  |  | 40.0 |
Compensation and benefits |  | 35.5 |  |  | 32.3 |
Lease liabilities |  | 31.6 |  |  | 32.1 |
Advertising and sales promotions and incentives |  | 19.6 |  |  | 19.8 |
Inventory |  | 16.1 |  |  | 6.8 |
Net operating losses and other carryforwards |  | 6.9 |  |  | 5.4 |
Other |  | 10.5 |  |  | 6.9 |
Valuation allowance |  | (5.5) |  |  | (5.1) |
Deferred income tax assets |  | $ | 240.8 |  |  | $ | 202.8 |
Deferred income tax liabilities: |  |  |  |
Right-of-use assets |  | $ | (31.1) |  |  | $ | (31.5) |
Depreciation |  | (50.1) |  |  | (55.1) |
Amortization |  | (54.7) |  |  | (71.7) |
Deferred income tax liabilities |  | (135.9) |  |  | (158.3) |
Deferred income tax assets, net |  | $ | 104.9 |  |  | $ | 44.5 |
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, 2024 |  | $ | 3.5 |
Increase as a result of tax positions taken during the current period |  | 0.4 |
Reductions as a result of statute of limitations lapses |  | (0.7) |
Unrecognized tax benefits as of October 31, 2025 |  | $ | 3.2 |

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