Income Taxes (Tables)

12 Months Ended

Oct. 31, 2024

Income Tax Disclosure [Abstract]

Income Tax Expense

Income before income taxes and income tax expense (benefit) are comprised of the following:

	2024		2023		2022
Income before income taxes:
Domestic	$	314,263	$	269,934	$	302,549
Foreign	271,218		345,405		346,730
Total income before income taxes	$	585,481	$	615,339	$	649,279
Current:
U.S. federal	$	65,085	$	54,157	$	59,639
State and local	2,017		285		7,535
Foreign	69,652		89,520		79,734
Total current	136,754		143,962		146,908
Deferred:
U.S. federal	(11,622)		(9,119)		(9,408)
State and local	(1,387)		(1,279)		(596)
Foreign	(5,548)		(5,718)		(728)
Total deferred	(18,557)		(16,116)		(10,732)
	$	118,197	$	127,846	$	136,176

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:

	2024		2023		2022
Statutory federal income tax rate	21.00	%	21.00	%	21.00	%
Share-based and other compensation	(0.02)		(0.25)		0.26
Foreign tax rate variances	1.22		1.83		0.95
State and local taxes, net of federal income tax benefit	0.08		(0.13)		0.84
Foreign-Derived Intangible Income Deduction	(2.54)		(2.24)		(1.59)
Global Intangible Low-Taxed Income net of foreign tax credits	0.40		0.71		0.23
Other – net	0.05		(0.14)		(0.72)
Effective tax rate	20.19	%	20.78	%	20.97	%

Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits for 2024, 2023 and 2022 is as follows:

	2024		2023		2022
Gross balance at beginning of year	$	8,002	$	2,872	$	3,720
Additions based on tax positions related to the current year	300		410		310
Additions for tax positions of prior years	—		10		—
Increases related to acquired businesses	—		6,602		—
Reductions for tax positions of prior years	(418)		—		(70)
Lapse of statute of limitations	(403)		(1,892)		(1,088)
Gross balance at end of year	$	7,481	$	8,002	$	2,872

Significant Components of Deferred Tax Assets and Liabilities

	2024		2023
Deferred tax assets:
Lease Liabilities	$	25,254	$	26,678
Employee benefits	29,291		26,680
Tax credit and loss carryforwards	35,258		28,667
Other accruals not currently deductible for taxes	9,190		8,944
Inventory adjustments	16,634		5,932
Total deferred tax assets	115,627		96,901
Valuation allowance	(33,596)		(23,732)
Total deferred tax assets	82,031		73,169
Deferred tax liabilities:
Depreciation and amortization	256,183		238,210
Lease right-of-use assets	24,204		25,925
Other - net	(3,865)		3,649
Total deferred tax liabilities	276,522		267,784
Net deferred tax liabilities	$	(194,491)	$	(194,615)