Income Taxes (Tables)

12 Months Ended

Oct. 31, 2016

Income Taxes Disclosure Table [Abstract]

Components of the provision for income tax expense

(in thousands)		2016		2015		2014
Current:
Federal	$	114,350	$	117,682	$	149,999
State		17,305		20,837		25,329
Deferred:
Federal		18,391		4,614		10,653
State		3,584		81		729
Total	$	153,630	$	143,214	$	186,710

Components of deferred income tax assets and liabilities

(in thousands)			2016		2015
Deferred tax assets:
	Stock-based compensation	$	66,221	$	69,133
	Deferred rent		12,575		12,776
	Investment basis in partnerships		7,478		-
	Compensation and benefit expense		4,193		5,190
	Differences between book and tax bases of investments		3,233		9,268
	Federal benefit of unrecognized state tax benefits		716		883
	Other		409		460
Total deferred tax asset		$	94,825	$	97,710
Deferred tax liabilities:
	Deferred sales commissions	$	(10,407)	$	(9,760)
	Differences between book and tax bases of property		(7,537)		(6,117)
	Unrealized net holding gains on investments		(1,821)		(2,380)
	Differences between book and tax bases of goodwill
	and intangibles		(1,322)		(36,855)
	Unrealized gains on derivative instruments		(443)		(434)
Total deferred tax liability		$	(21,530)	$	(55,546)
Net deferred tax asset		$	73,295	$	42,164

Reconciliation of the difference between the Company's effective tax rate and the U.S. federal statutory tax rate

	2016		2015		2014
Federal statutory rate	35.0	%	35.0	%	35.0	%
State and local income tax, net of
federal income tax benefit	3.5		3.8		3.5
Non-controlling interest	(2.0)		(0.8)		(0.8)
Stock-based compensation	0.6		0.8		0.4
Other	0.6		-		(0.1)
Effective income tax rate	37.7	%	38.8	%	38.0	%

Summary of changes in gross unrecognized tax benefits

(in thousands)			2016		2015		2014
Beginning Balance		$	2,100	$	1,798	$	857
	Additions for tax positions of prior years		6		437		1,117
	Additions based on tax positions related to current year		57		62		-
	Reductions for tax positions of prior years		-		(130)		(176)
	Lapse of statute of limitations		(304)		(67)		-
Ending Balance		$	1,859	$	2,100	$	1,798