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Income Taxes (Tables)

12 Months Ended

Oct. 29, 2022

Schedule of income tax provision reconciliation

The reconciliation of income tax computed at the U.S. federal statutory rates to income tax expense for fiscal 2022, fiscal 2021 and fiscal 2020 is as follows:


	2022			2021			2020
U.S. federal statutory tax rate	21.0		%	21.0		%	21.0		%
Income tax provision reconciliation:
Tax at statutory rate	$	650,737		$	279,030		$	275,439
Net foreign income subject to lower tax rate	(358,725)			(227,470)			(225,937)
State income taxes, net of federal benefit	(15,615)			(28,052)			(23,537)
Valuation allowance	29,737			13,263			13,655
Federal research and development tax credits	(58,625)			(37,902)			(31,055)
Change in uncertain tax positions	19,394			(1,061)			(13,304)
Amortization of purchased intangibles	142,375			146,094			101,906
Acquisition and integration costs	—			11,367			1,714

U.S. effects of international operations	(47,665)			(24,624)			11,903
Windfalls (under ASU 2016-09)	(16,717)			(26,365)			(16,240)

Intra-entity transfer of intangible assets	—			(188,804)			—
Other, net	5,292			22,816			(3,688)
Total income tax provision (benefit)	$	350,188		$	(61,708)		$	90,856

Schedule of income before income tax domestic and foreign

Income before income taxes for fiscal 2022, fiscal 2021 and fiscal 2020 includes the following components:


Income before income taxes (1)	2022		2021		2020

Domestic	$	958,465	$	508,100	$	355,442
Foreign	2,140,284		820,614		956,175
Income before income taxes	$	3,098,749	$	1,328,714	$	1,311,617

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(1)Income before income taxes reflects deemed intercompany royalties in all periods presented.

Schedule of components of the provision for (benefit from) income taxes

The components of the provision for (benefit from) income taxes for fiscal 2022, fiscal 2021 and fiscal 2020 are as follows:


	2022		2021		2020
Current:
Federal tax	$	304,556	$	134,652	$	64,876
State	13,214		7,772		4,882
Foreign	359,173		202,790		135,046
Total current	$	676,943	$	345,214	$	204,804
Deferred:
Federal	$	(341,777)	$	515,541	$	(159,229)
State	(612)		(12,444)		(12,684)
Foreign	15,634		(910,019)		57,965
Total deferred	$	(326,755)	$	(406,922)	$	(113,948)
Provision for (benefit from) income tax	$	350,188	$	(61,708)	$	90,856

Schedule of deferred tax assets and liabilities

The significant components of the Company’s deferred tax assets and liabilities for fiscal 2022 and fiscal 2021 are as follows:


	2022		2021
Deferred tax assets:
Inventory reserves	$	16,584	$	—

Reserves for compensation and benefits	60,871		64,274
Tax credit carryovers	327,671		295,345

Stock-based compensation	25,059		26,541


Net operating losses	43,696		62,876
Intangible assets	1,975,096		2,002,041
Lease liability	76,709		60,954
Other	248,796		248,075
Total gross deferred tax assets	2,774,482		2,760,106
Valuation allowance	(339,105)		(315,434)
Total deferred tax assets	2,435,377		2,444,672
Deferred tax liabilities:
Inventory reserves	—		(18,570)
Depreciation	(96,660)		(91,846)
Deferred GILTI tax liabilities	(2,824,332)		(3,059,919)
Right of use asset	(55,858)		(53,686)
Acquisition-related intangibles	(816,177)		(892,212)

Total gross deferred tax liabilities	(3,793,027)		(4,116,233)
Net deferred tax liabilities	$	(1,357,650)	$	(1,671,561)

Schedule of changes in unrealized tax benefits

The following table summarizes the changes in the total amounts of unrealized tax benefits for fiscal 2020 through fiscal 2022:


	Unrealized Tax Benefits

























Balance, November 2, 2019	$	34,343
Additions for tax positions related to current year	3,270

Reductions for tax positions related to prior years	(16,152)
Reductions due to lapse of applicable statute of limitations	(170)
Balance, October 31, 2020	$	21,291
Additions for tax positions related to current year	4,713
Additions for tax positions related to prior years	19,790
Additions for tax positions related to the Acquisition	91,179
Reductions due to lapse of applicable statute of limitations	(4,452)
Balance, October 30, 2021	$	132,521

Additions for tax positions related to the Acquisition	15,267
Additions for tax positions related to current year	11,800
Additions for tax positions related to prior years	9,704
Reductions due to lapse of applicable statute of limitations	(3,965)
Balance, October 29, 2022	$	165,327