INCOME TAXES (Tables)

12 Months Ended

Oct. 31, 2021

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,
	2021	2020	2019
Domestic	$345,733	$327,754	$386,584
Foreign	41,325	37,101	51,257
Income before taxes and noncontrolling interests	$387,058	$364,855	$437,841

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,
	2021	2020	2019
Current:
Federal	$47,839	$17,730	$56,670
State	11,639	4,167	12,795
Foreign	13,457	13,101	15,027
	72,935	34,998	84,492
Deferred:
Federal	(10,097)	(3,364)	(3,140)
State	(3,251)	(55)	(1,263)
Foreign	(2,287)	(2,579)	(1,989)
	(15,635)	(5,998)	(6,392)
Total income tax expense	$57,300	$29,000	$78,100

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,
	2021		2020		2019
Federal statutory income tax rate	21.0	%	21.0	%	21.0	%
State taxes, net of federal income tax benefit	2.9	%	3.7	%	3.0	%
Tax benefit related to stock option exercises	(3.7	%)	(13.3	%)	(3.8	%)
Tax-exempt gains on corporate-owned life insurance policies	(2.9	%)	(0.7	%)	(0.6	%)
Research and development tax credits	(2.5	%)	(2.4	%)	(1.7	%)
Foreign derived intangible income deduction	(1.9	%)	(1.6	%)	(1.4	%)
Nondeductible compensation	1.2	%	.4	%	.8	%
Other, net	.7	%	.8	%	.5	%
Effective tax rate	14.8	%	7.9	%	17.8	%

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,
	2021	2020
Deferred tax assets:
Deferred compensation plan liability	$54,726	$41,744
Inventories	41,354	36,414
Operating lease liabilities	16,483	12,980
Share-based compensation	8,759	8,746
Performance-based compensation accrual	4,615	2,539
Allowance for doubtful accounts receivable	2,532	2,966
Deferred payroll taxes	2,372	1,754
Customer rebates accrual	2,236	2,667
Vacation accrual	1,910	1,840
Other	9,102	8,952
Total deferred tax assets	144,089	120,602
Deferred tax liabilities:
Goodwill and other intangible assets	(145,024)	(141,152)
Property, plant and equipment	(19,580)	(16,130)
Operating lease right-of-use assets	(15,941)	(12,327)
Adoption of ASC 606 (revenue recognition)	(2,677)	(4,733)
Other	(1,628)	(1,918)
Total deferred tax liabilities	(184,850)	(176,260)
Net deferred tax liability	($40,761)	($55,658)

Summary of Income Tax Contingencies [Table Text Block]

A reconciliation of the activity related to the liability for gross unrecognized tax benefits during fiscal 2021 and 2020 is as follows (in thousands):

	Year ended October 31,
	2021	2020
Balances as of beginning of year	$2,946	$2,670
Increases related to current year tax positions	710	489
Increases related to prior year tax positions	839	32
Decreases related to prior year tax positions	—	(18)
Lapses of statutes of limitations	(423)	(227)
Balances as of end of year	$4,072	$2,946