Quarterly Financial Data (Unaudited)

12 Months Ended

Oct. 31, 2018

Quarterly Financial Information Disclosure [Abstract]

Note 17 — Quarterly financial data (unaudited)

	First		Second		Third		Fourth
2018:
Sales	$	550,424	$	553,706	$	581,243	$	569,295
Gross margin		301,003		306,828		320,396		307,738
Net income		104,555		91,235		94,884		86,702
Earnings per share:
Basic		1.81		1.57		1.63		1.49
Diluted		1.78		1.55		1.61		1.47
2017:
Sales	$	407,470	$	496,137	$	589,438	$	573,938
Gross margin		225,138		275,512		326,265		312,088
Net income		49,988		64,523		101,456		79,835
Earnings per share:
Basic		0.87		1.12		1.76		1.38
Diluted		0.86		1.11		1.74		1.37

The sum of the per-share amounts for the four quarters may not always equal the annual per-share amounts due to differences in the average number of shares outstanding during the respective periods. The sum of other amounts for the four quarters may not always equal the annual amounts due to rounding.

During the third quarter of 2018, we recorded a favorable adjustment of unrecognized tax benefits of $1,041 related to the lapse of statute of limitations.

During the first quarter of 2018, we recorded discrete items to income tax expense as a result of the Act. See Note 7 for additional information.

During the fourth quarter of 2017, we recorded pre-tax acquisition costs of $391 related to the acquisition of Vention.

During the third quarter of 2017, we recorded pre-tax acquisition costs of $865 related to Vention.

During the second quarter of 2017, we recorded pre-tax acquisition costs of $13,415 related to Vention. As a result, our income tax provision for the second quarter included a discrete tax expense of $2,600 related to nondeductible acquisition costs.