INCOME TAXES

3 Months Ended

Jan. 31, 2022

Income Tax Disclosure [Abstract]

INCOME TAXES

INCOME TAXES

The Company’s estimated annual effective tax rate for the three months ended January 31, 2022 was 23.8%, as compared to an estimated annual effective tax rate of 25.7%, for the three months ended January 31, 2021. Excluding the effects of discrete items recognized during the periods, the Company's estimated annual effective tax rate for the three months ended January 31, 2022 would have remained approximately 23.8%, as compared to an estimated annual effective tax rate of 23.8% for the three months ended January 31, 2021. The Company estimates its effective tax rate for the full fiscal year 2022, exclusive of discrete items, will be approximately 23.8%.

As of January 31, 2022, the Company's deferred income tax liability was $160.5 million, as compared to $156.5 million at October 31, 2021, an increase of $3.9 million.