Income Taxes (Tables)

12 Months Ended

Oct. 31, 2014

Income Taxes Disclosure Table [Abstract]

Components of provision for income tax expense

(in thousands)		2014		2013		2012
Current:
Federal	$	149,999	$	121,373	$	134,027
State		25,329		29,816		19,836
Deferred:
Federal		10,653		(6,347)		(9,861)
State		729		(946)		(1,617)
Total	$	186,710	$	143,896	$	142,385

Components of deferred tax assets and liabilities

(in thousands)			2014		2013
Deferred tax assets:
	Stock-based compensation	$	68,775	$	70,189
	Compensation and benefit expense		4,977		5,143
	Deferred rent		4,349		4,615
	Differences between book and tax bases of investments		1,130		5,945
	Differences between book and tax bases of property		1,231		-
	Federal benefit of unrecognized state tax benefits		827		352
	Unrealized net holding losses on investments		-		502
	Other		355		533
Total deferred tax asset		$	81,644	$	87,279
Deferred tax liabilities:
	Deferred sales commissions	$	(6,899)	$	(6,832)
	Compensation and benefit expense		0		(198)
	Differences between book and tax bases of goodwill
	and intangibles		(25,008)		(17,692)
	Unrealized net holding gains on investments		(3,212)		-
	Unrealized gains on derivative instruments		(426)		(417)
	Differences between book and tax bases of property		0		(1,001)
Total deferred tax liability		$	(35,545)	$	(26,140)
Net deferred tax asset		$	46,099	$	61,139

Reconciliation of the difference between the federal statutory income tax rate and the effective income tax rate

	2014		2013		2012
Federal statutory rate	35.0	%	35.0	%	35.0	%
State and local income tax, net of
federal income tax benefit	3.5		3.3		3.0
Non-controlling interest	(0.8)		(1.2)		(3.6)
Stock-based compensation	0.4		0.8		0.8
State audit settlement	-		1.9		-
Other	(0.1)		0.2		0.1
Effective income tax rate	38.0	%	40.0	%	35.3	%

Reconciliation of gross unrecognized tax benefits

(in thousands)			2014		2013		2012
Beginning Balance		$	857	$	9,538	$	9,474
	Additions for tax provisions of prior years		1,117		324		31
	Additions based on tax provisions related to current year		-		55		33
	Reductions for tax provisions of prior years		(176)		-		-
	Reductions for settlements with taxing authorities		-		(8,752)		-
	Lapse of statute of limitations		-		(308)		-
Ending Balance		$	1,798	$	857	$	9,538