Income taxes

6 Months Ended

Apr. 30, 2024

Income Tax Disclosure [Abstract]

Income taxes

Income taxes

We record our interim provision for income taxes based on our estimated annual effective tax rate, as well as certain items discrete to the current period. The effective tax rate for the three months ended April 30, 2024 and 2023 was 20.8% and 21.1%, respectively. The effective tax rate for the six months ended April 30, 2024 and 2023 was 20.9% and 20.8%, respectively.

Due to our share-based payment transactions, our income tax provision included a discrete tax benefit of $1,940 and $2,309 for the three and six months ended April 30, 2024, respectively. Our income tax provision included a similar discrete tax benefit of $583 and $1,749 for the three and six months ended April 30, 2023, respectively.