Income Taxes (Tables)

12 Months Ended

Oct. 29, 2017

Income Taxes

Schedule of components of provision for income taxes

(in thousands)	2017	2016	2015
Current
U.S. Federal	$ 329,707	$ 341,799	$ 299,557
State	32,719	33,753	39,817
Foreign	6,950	6,819	10,526
Total current	369,376	382,371	349,900
Deferred
U.S. Federal	57,533	40,456	18,451
State	4,510	3,770	1,070
Foreign	123	101	458
Total deferred	62,166	44,327	19,979
Total provision for income taxes	$ 431,542	$ 426,698	$ 369,879

Schedule of significant components of the deferred income tax liabilities and assets

(in thousands)	October 29, 2017		October 30, 2016
Deferred tax liabilities
Goodwill and intangible assets	$ (298,159	)	$ (250,330	)
Tax over book depreciation and basis differences	(107,076	)	(98,628	)
Other, net	(18,657	)	(18,295	)
Deferred tax assets
Pension and post-retirement benefits	144,392		182,444
Employee compensation related liabilities	100,311		107,343
Marketing and promotional accruals	32,011		36,844
Other, net	48,768		46,845
Net deferred tax (liabilities) assets	$  (98,410	)	$     6,223

Schedule of reconciliation of the statutory federal income tax rate to the effective tax rate

	2017		2016		2015
U.S. statutory rate	35.0	%	35.0	%	35.0	%
State taxes on income, net of federal tax benefit	1.7		2.1		2.7
Domestic production activities deduction	(2.4	)	(2.8	)	(2.6	)
Foreign tax credit	–		(0.9	)	–
All other, net	(0.6	)	(1.0	)	(0.1	)
Effective tax rate	33.7	%	32.4	%	35.0	%

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

(in thousands)
Balance as of October 25, 2015	$ 21,337
Tax positions related to the current period
Increases	3,587
Tax positions related to prior periods
Increases	9,723
Decreases	(3,913	)
Settlements	(1,273	)
Decreases related to a lapse of applicable statute of limitations	(2,072	)
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