Income Taxes (Tables)

12 Months Ended

Oct. 31, 2022

Income Tax Disclosure [Abstract]

Income Tax Expense

Income tax expense includes the following:

	2022		2021		2020
Current:
U.S. federal	$	59,639	$	40,879	$	17,507
State and local	7,535		4,429		984
Foreign	79,734		70,429		47,415
Total current	146,908		115,737		65,906
Deferred:
U.S. federal	(9,408)		6,371		(9,919)
State and local	(596)		1,470		(1,023)
Foreign	(728)		(3,770)		(3,014)
Total deferred	(10,732)		4,071		(13,956)
	$	136,176	$	119,808	$	51,950

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:

	2022		2021		2020
Statutory federal income tax rate	21.00	%	21.00	%	21.00	%
Share-based and other compensation	0.26		(0.30)		(4.15)
Foreign tax rate variances	0.95		0.84		1.51
State and local taxes, net of federal income tax benefit	0.84		0.81		(0.01)
Foreign-Derived Intangible Income Deduction	(1.59)		(1.19)		(0.95)
Global Intangible Low-Taxed Income net of foreign tax credits	0.23		0.44		0.97
Other – net	(0.72)		(0.73)		(1.14)
Effective tax rate	20.97	%	20.87	%	17.23	%

Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits for 2022, 2021 and 2020 is as follows:

	2022		2021		2020
Balance at beginning of year	$	3,720	$	6,717	$	2,909
Additions based on tax positions related to the current year	310		370		370
Additions for tax positions of prior years	—		—		4,068
Reductions for tax positions of prior years	(70)		(350)		—
Settlements	—		—		(137)
Lapse of statute of limitations	(1,088)		(3,017)		(493)
Balance at end of year	$	2,872	$	3,720	$	6,717

Significant Components of Deferred Tax Assets and Liabilities

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

	2022		2021
Deferred tax assets:
Lease Liabilities	$	28,413	$	32,572
Employee benefits	22,079		39,798
Tax credit and loss carryforwards	15,616		19,269
Other accruals not currently deductible for taxes	11,336		16,542
Inventory adjustments	6,423		6,924
Total deferred tax assets	83,867		115,105
Valuation allowance	(10,130)		(14,141)
Total deferred tax assets	73,737		100,964
Deferred tax liabilities:
Depreciation and amortization	145,285		145,494
Lease right-of-use assets	27,548		31,615
Other - net	1,238		941
Total deferred tax liabilities	174,071		178,050
Net deferred tax liabilities	$	(100,334)	$	(77,086)