INCOME TAXES (Tables)

12 Months Ended

Oct. 31, 2017

Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block]

The components of income before income taxes and noncontrolling interests are as follows (in thousands):



	Year ended October 31,
	2017		2016		2015
Domestic		$264,420		$227,927		$206,612
Foreign	33,540		29,123		18,352
Income before taxes and noncontrolling interests		$297,960		$257,050		$224,964

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

The components of the provision for income taxes on income before income taxes and noncontrolling interests are as follows (in thousands):



	Year ended October 31,
	2017			2016			2015
Current:
Federal		$85,047			$75,261			$65,857
State	6,820			7,463			8,559
Foreign	9,529			7,370			4,064
	101,396			90,094			78,480
Deferred:
Federal	(9,661		)	(5,979		)	(4,459		)
State	(499		)	(2,587		)	(1,907		)
Foreign	(936		)	(628		)	(714		)
	(11,096		)	(9,194		)	(7,080		)
Total income tax expense		$90,300			$80,900			$71,400

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

A reconciliation of the federal statutory income tax rate to the Company’s effective tax rate is as follows:



	Year ended October 31,
	2017		2016		2015
Federal statutory income tax rate	35.0	%	35.0	%	35.0	%
State taxes, net of federal income tax benefit	1.9	%	1.7	%	2.4	%
Research and development tax credits	(1.8	%)	(2.7	%)	(1.9	%)
Tax-exempt (gains) losses on corporate-owned life insurance policies	(1.8	%)	(.1	%)	.1	%
Domestic production activities tax deduction	(1.1	%)	(1.3	%)	(1.2	%)
Tax benefit related to stock option exercises (ASU 2016-09 adoption)	(1.0	%)	—	%	—	%
Noncontrolling interests’ share of income	(.7	%)	(.7	%)	(1.3	%)
Foreign tax differential, where permanently reinvested outside of the U.S.	(.4	%)	(.8	%)	(.8	%)
Other, net	.2	%	.4	%	(.6	%)
Effective tax rate	30.3	%	31.5	%	31.7	%

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

Significant components of the Company’s deferred tax assets and liabilities are as follows (in thousands):



	As of October 31,
	2017			2016
Deferred tax assets:
Deferred compensation liability		$47,093			$36,134
Inventories	31,797			27,969
Share-based compensation	12,984			11,338
Bonus accrual	4,956			4,744
Vacation accrual	2,112			2,127
Customer rebates accrual	1,864			1,917
Deferred revenue	730			1,365
R&D related carryforward	645			2,057
Other	8,585			8,489
Total deferred tax assets	110,766			96,140

Deferred tax liabilities:
Goodwill and other intangible assets	(160,158		)	(150,185		)
Property, plant and equipment	(7,887		)	(8,291		)
Other	(1,747		)	(2,156		)
Total deferred tax liabilities	(169,792		)	(160,632		)
Net deferred tax liability		($59,026	)		($64,492	)

The net deferred tax liability is classified in the Company’s Consolidated Balance Sheets as follows (in thousands) in accordance with ASU 2015-17, which the Company adopted in the fourth quarter of fiscal 2017 on a retrospective basis (see Note 1, Summary of Significant Accounting Policies - New Accounting Pronouncements):



	As of October 31,
	2017			2016
Long-term liability		($59,026	)		($64,899	)
Long-term asset	—			407
Net deferred tax liability		($59,026	)		($64,492	)

Summary of Income Tax Contingencies [Table Text Block]

A reconciliation of the activity related to the liability for gross unrecognized tax benefits during fiscal 2017 and 2016 is as follows (in thousands):



	Year ended October 31,
	2017			2016
Balances as of beginning of year		$1,602			$787
Increases related to current year tax positions	596			524
Increases related to prior year tax positions	—			521
Decreases related to prior year tax positions	(24		)	(14		)
Lapses of statutes of limitations	(134		)	(216		)
Balances as of end of year		$2,040			$1,602