Income Taxes (Tables)

12 Months Ended

Oct. 28, 2018

Income Tax Disclosure [Abstract]

Schedule of components of provision for income taxes

The components of the provision for income taxes are as follows: 

(in thousands)	2018			2017		2016
Current
U.S. Federal	$	134,869		$	329,707	$	341,799
State	27,782			32,719		33,753
Foreign	13,492			6,950		6,819
Total current	176,143			369,376		382,371
Deferred
U.S. Federal	(15,573		)	57,533		40,456
State	10,975			4,510		3,770
Foreign	(2,843		)	123		101
Total deferred	(7,441		)	62,166		44,327
Total provision for income taxes	$	168,702		$	431,542	$	426,698

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 28, 2018			October 29, 2017
Deferred tax liabilities
Goodwill and intangible assets	$	(266,709	)	$	(298,159	)
Tax over book depreciation and basis differences	(117,861		)	(107,076		)
Other, net	(11,221		)	(18,657		)
Deferred tax assets
Pension and post-retirement benefits	75,501			144,392
Employee compensation related liabilities	64,852			100,311
Marketing and promotional accruals	22,595			32,011
Other, net	35,750			48,768
Net deferred tax (liabilities) assets	$	(197,093	)	$	(98,410	)

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: 

	2018		2017		2016
U.S. statutory rate	23.4	%	35.0	%	35.0	%
State taxes on income, net of federal tax benefit	2.6		1.7		2.1
Domestic production activities deduction	(1.5	)	(2.4	)	(2.8	)
Foreign tax credit	—		—		(0.9	)
Provisional tax law change	(6.3	)	—		—
Equity based compensation	(3.4	)	—		—
All other, net	(0.5	)	(0.6	)	(1.0	)
Effective tax rate	14.3	%	33.7	%	32.4	%

Schedule of changes in the unrecognized tax benefits, excluding interest and penalties

The following table sets forth changes in the unrecognized tax benefits, excluding interest and penalties, for fiscal years 2017 and 2018.

(in thousands)
Balance as of October 30, 2016	$	27,389
Tax positions related to the current period
Increases	3,094
Tax positions related to prior periods
Increases	8,923
Decreases	(2,388		)
Settlements	(1,825		)
Decreases related to a lapse of applicable statute of limitations	(2,396		)
Balance as of October 29, 2017	$	32,797
Tax positions related to the current period
Increases	3,540
Tax positions related to prior periods
Increases	3,712
Decreases	(1,874		)
Settlements	(2,702		)
Decreases related to a lapse of applicable statute of limitations	(2,356		)
Balance as of October 28, 2018	$	33,117