Income Taxes (Tables)

12 Months Ended

Oct. 31, 2019

Income Tax Disclosure [Abstract]

Income Tax Expense

Income tax expense includes the following:

	2019			2018			2017
Current:
U.S. federal	$	40,012		$	39,837		$	54,878
State and local		3,429			1,734			3,731
Foreign		51,590			63,522			66,352
Total current		95,031			105,093			124,961
Deferred:
U.S. federal		1,470			(32,829	)		3,596
State and local		633			891			1,164
Foreign		(3,121	)		(2,011	)		(5,232	)
Total deferred		(1,018	)		(33,949	)		(472	)
	$	94,013		$	71,144		$	124,489

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:

	2019			2018			2017
Statutory federal income tax rate		21.00	%		23.34	%		35.00	%
Transition tax		1.46			6.16			—
Tax rate change deferred tax remeasurement		—			(10.94	)		—
Share-based and other compensation		(0.55	)		(1.45	)		—
Domestic production deduction		—			(0.82	)		(1.48	)
Foreign tax rate variances, net of foreign tax credits		1.16			(0.46	)		(4.69	)
State and local taxes, net of federal income tax benefit		0.74			0.45			0.76
Amounts related to prior years		(0.55	)		(0.21	)		0.03
Foreign-Derived Intangible Income Deduction		(1.51	)		—			—
Global Intangible Low-Taxed Income net of foreign tax    credits		0.85			—			—
Other – net		(0.79	)		(0.21	)		—
Effective tax rate		21.81	%		15.86	%		29.62	%

Unrecognized Tax Benefits

 

	2019			2018			2017
Balance at beginning of year	$	2,891		$	3,781		$	3,336
Additions based on tax positions related to the current year		370			310			529
Additions for tax positions of prior years		547			40			621
Reductions for tax positions of prior years		—			(120	)		(150	)
Lapse of statute of limitations		(899	)		(1,120	)		(555	)
Balance at end of year	$	2,909		$	2,891		$	3,781

Significant Components of Deferred Tax Assets and Liabilities

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

	2019			2018
Deferred tax assets:
Employee benefits	$	73,025		$	56,622
Other accruals not currently deductible for taxes		16,294			18,186
Tax credit and loss carryforwards		18,074			16,652
Inventory adjustments		5,269			4,451
Total deferred tax assets		112,662			95,911
Valuation allowance		(15,301	)		(14,862	)
Total deferred tax assets		97,361			81,049
Deferred tax liabilities:
Depreciation and amortization		169,009			171,304
Other - net		655			669
Total deferred tax liabilities		169,664			171,973
Net deferred tax liabilities	$	(72,303	)	$	(90,924	)