Income taxes

9 Months Ended

Jul. 31, 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 July 31, 2024 and 2023 was 21.5% and 21.1%, respectively. The effective tax rate for the nine months ended July 31, 2024 and 2023 was 21.1% and 20.9%, respectively.

Due to our share-based payment transactions, our income tax provision included a discrete tax benefit of $537 and $2,846 for the three and nine months ended July 31, 2024, respectively. Our income tax provision included a similar discrete tax benefit of $996 and $2,745 for the three and nine months ended July 31, 2023, respectively.