INCOME TAXES (Tables)

12 Months Ended

Oct. 31, 2018

Income Tax Disclosure [Abstract]

Schedule of earnings before income taxes

Earnings before income taxes were as follows (in thousands):

Fiscal Years Ended October 31	2018		2017		2016
Earnings before income taxes:
U.S.	$	333,136	$	307,136	$	292,184
Foreign	39,261		46,048		38,276
Total earnings before income taxes	$	372,397	$	353,184	$	330,460

Schedule of reconciliation of the statutory federal income tax rate to the company's consolidated effective tax rate

A reconciliation of the statutory federal income tax rate to the company's consolidated effective tax rate is summarized as follows:

Fiscal Years Ended October 31	2018		2017		2016
Statutory federal income tax rate	23.3	%	35.0	%	35.0	%
Excess deduction for stock compensation	(3.5	)	(5.3	)	—
Domestic manufacturer's deduction	(0.9	)	(1.2	)	(0.8	)
State and local income taxes, net of federal benefit	1.3		0.5		1.5
Foreign taxes	(0.5	)	(2.3	)	(1.8	)
Federal research tax credit	(1.2	)	(1.5	)	(1.5	)
Remeasurement of deferred tax assets and liabilities - Tax Act	5.2		—		—
Deemed repatriation tax - Tax Act	3.6		—		—
Other, net	(0.3	)	(1.0	)	(2.3	)
Consolidated effective tax rate	27.0	%	24.2	%	30.1	%

Schedule of components of the provision for income taxes

Components of the provision for income taxes were as follows (in thousands):

Fiscal Years Ended October 31	2018		2017			2016
Current provision:
Federal	$	64,375	$	83,091		$	77,685
State	6,192		3,036			6,929
Foreign	7,087		8,166			6,295
Total current provision	$	77,654	$	94,293		$	90,909
Deferred provision (benefit):
Federal	$	22,074	$	(8,774	)	$	7,283
State	308		(101		)	297
Foreign	422		49			977
Total deferred provision (benefit)	22,804		(8,826		)	8,557
Total provision for income taxes	$	100,458	$	85,467		$	99,466

Schedule of tax effects of temporary differences that give rise to the net deferred income tax assets

The tax effects of temporary differences that give rise to deferred income tax assets, net, are presented below (in thousands):

October 31	2018			2017
Deferred income tax assets:
Compensation and benefits	$	24,315		$	38,753
Warranty and insurance	19,037			23,993
Advertising and sales allowance	7,650			10,428
Other	7,789			12,234
Valuation allowance	(1,178		)	(1,951		)
Total deferred income tax assets	$	57,613		$	83,457
Deferred income tax liabilities:
Depreciation	$	(12,381	)	$	(13,259	)
Amortization	(8,377		)	(7,841		)
Total deferred income tax liabilities	(20,758		)	(21,100		)
Deferred income tax assets, net	$	36,855		$	62,357

Schedule of reconciliation of the beginning and ending amount of unrecognized tax benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in thousands):

Unrecognized tax benefits as of October 31, 2017	$	3,113
Increase as a result of tax positions taken during a prior period	332
Increase as a result of tax positions taken during the current period	965
Decrease relating to settlements with taxing authorities	(1,557		)
Reductions as a result of statute of limitations lapses	(508		)
Unrecognized tax benefits as of October 31, 2018	$	2,345