Income Taxes (Tables)

12 Months Ended

Oct. 31, 2020

Income Tax Disclosure [Abstract]

Income Tax Expense

Income tax expense includes the following:

	2020		2019		2018
Current:
U.S. federal	$	19,265	$	40,012	$	39,837
State and local	984		3,429		1,734
Foreign	45,657		51,590		63,522
Total current	65,906		95,031		105,093
Deferred:
U.S. federal	(10,143)		1,470		(32,829)
State and local	(1,023)		633		891
Foreign	(2,790)		(3,121)		(2,011)
Total deferred	(13,956)		(1,018)		(33,949)
	$	51,950	$	94,013	$	71,144

Income Taxes Computed at the U.S. Statutory Rate and Income Tax

A reconciliation of the U.S. statutory federal rate to the worldwide consolidated effective tax rate follows:

	2020		2019		2018
Statutory federal income tax rate	21.00	%	21.00	%	23.34	%
Transition tax	—		1.46		6.16
Tax rate change deferred tax remeasurement	—		—		(10.94)
Share-based and other compensation	(4.15)		(0.55)		(1.45)
Domestic production deduction	—		—		(0.82)
Foreign tax rate variances, net of foreign tax credits	1.51		1.16		(0.46)
State and local taxes, net of federal income tax benefit	(0.01)		0.74		0.45
Amounts related to prior years	(0.04)		(0.55)		(0.21)
Foreign-Derived Intangible Income Deduction	(0.95)		(1.51)		—
Global Intangible Low-Taxed Income net of foreign tax credits	0.97		0.85		—
Other – net	(1.10)		(0.79)		(0.21)
Effective tax rate	17.23	%	21.81	%	15.86	%

Unrecognized Tax Benefits

	2020		2019		2018
Balance at beginning of year	$	2,909	$	2,891	$	3,781
Additions based on tax positions related to the current year	370		370		310
Additions for tax positions of prior years	4,068		547		40
Reductions for tax positions of prior years	—		—		(120)
Settlements	(137)		—		—
Lapse of statute of limitations	(493)		(899)		(1,120)
Balance at end of year	$	6,717	$	2,909	$	2,891

Significant Components of Deferred Tax Assets and Liabilities

Significant components of deferred tax assets and liabilities are as follows:

	2020		2019
Deferred tax assets:
Employee benefits	$	70,838	$	73,025
Other accruals not currently deductible for taxes	16,207		16,294
Tax credit and loss carryforwards	20,268		18,074
Inventory adjustments	8,757		5,269
Total deferred tax assets	116,070		112,662
Valuation allowance	(22,233)		(15,301)
Total deferred tax assets	93,837		97,361
Deferred tax liabilities:
Depreciation and amortization	150,591		169,009
Other - net	410		655
Total deferred tax liabilities	151,001		169,664
Net deferred tax liabilities	$	(57,164)	$	(72,303)