INCOME TAXES (Tables)

12 Months Ended

Oct. 31, 2020

Income Tax Disclosure [Abstract]

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,
	2020	2019	2018
Domestic	$327,754	$386,584	$309,123
Foreign	37,101	51,257	47,163
Income before taxes and noncontrolling interests	$364,855	$437,841	$356,286

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,
	2020	2019	2018
Current:
Federal	$17,730	$56,670	$61,548
State	4,167	12,795	9,420
Foreign	13,101	15,027	12,608
	34,998	84,492	83,576
Deferred:
Federal	(3,364)	(3,140)	(13,115)
State	(55)	(1,263)	1,578
Foreign	(2,579)	(1,989)	(1,439)
	(5,998)	(6,392)	(12,976)
Total income tax expense	$29,000	$78,100	$70,600

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,
	2020		2019		2018
Federal statutory income tax rate (blended rate in fiscal 2018)	21.0	%	21.0	%	23.3	%
State taxes, net of federal income tax benefit	3.7	%	3.0	%	2.9	%
Tax benefit related to stock option exercises	(13.3	%)	(3.8	%)	(.5	%)
Discrete net tax benefit related to Tax Act	—	%	—	%	(3.4	%)
Research and development tax credits	(2.4	%)	(1.7	%)	(2.0	%)
Foreign derived intangible income deduction	(1.6	%)	(1.4	%)	—	%
Tax-exempt (gains) losses on corporate-owned life insurance policies	(.7	%)	(.6	%)	.1	%
Nondeductible compensation	.4	%	.8	%	.2	%
Domestic production activities tax deduction	—	%	—	%	(.8	%)
Other, net	.8	%	.5	%	—	%
Effective tax rate	7.9	%	17.8	%	19.8	%

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,
	2020	2019
Deferred tax assets:
Deferred compensation plan liability	$41,744	$35,437
Inventories	36,414	23,858
Operating lease liabilities	12,980	—
Share-based compensation	8,746	10,206
Allowance for doubtful accounts receivable	2,966	724
Customer rebates accrual	2,667	2,324
Performance-based compensation accrual	2,539	6,463
Vacation accrual	1,840	1,452
Other	10,706	8,082
Total deferred tax assets	120,602	88,546
Deferred tax liabilities:
Goodwill and other intangible assets	(141,152)	(122,075)
Property, plant and equipment	(16,130)	(14,137)
Operating lease right-of-use assets	(12,327)	—
Adoption of ASC 606 (revenue recognition)	(4,733)	(3,277)
Other	(1,918)	(553)
Total deferred tax liabilities	(176,260)	(140,042)
Net deferred tax liability	($55,658)	($51,496)

Summary of Income Tax Contingencies [Table Text Block]

A reconciliation of the activity related to the liability for gross unrecognized tax benefits during fiscal 2020 and 2019 is as follows (in thousands):

	Year ended October 31,
	2020	2019
Balances as of beginning of year	$2,670	$2,100
Increases related to current year tax positions	489	653
Increases related to prior year tax positions	32	45
Decreases related to prior year tax positions	(18)	—
Lapses of statutes of limitations	(227)	(128)
Balances as of end of year	$2,946	$2,670