INCOME TAXES (Tables)

12 Months Ended

Oct. 31, 2022

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,
	2022	2021	2020
Domestic	$429,329	$345,733	$327,754
Foreign	61,694	41,325	37,101
Income before taxes and noncontrolling interests	$491,023	$387,058	$364,855

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,
	2022	2021	2020
Current:
Federal	$63,861	$47,839	$17,730
State	13,015	11,639	4,167
Foreign	14,648	13,457	13,101
	91,524	72,935	34,998
Deferred:
Federal	8,154	(10,097)	(3,364)
State	1,129	(3,251)	(55)
Foreign	(407)	(2,287)	(2,579)
	8,876	(15,635)	(5,998)
Total income tax expense	$100,400	$57,300	$29,000

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,
	2022		2021		2020
Federal statutory income tax rate	21.0	%	21.0	%	21.0	%
State taxes, net of federal income tax benefit	2.6	%	2.9	%	3.7	%
Tax benefit related to stock option exercises	(3.6	%)	(3.7	%)	(13.3	%)
Tax-exempt losses (gains) on corporate-owned life insurance policies	2.8	%	(2.9	%)	(0.7	%)
Research and development tax credits	(1.5	%)	(2.5	%)	(2.4	%)
Foreign derived intangible income deduction	(1.9	%)	(1.9	%)	(1.6	%)
Nondeductible compensation	1.2	%	1.2	%	.4	%
Other, net	(.2	%)	.7	%	.8	%
Effective tax rate	20.4	%	14.8	%	7.9	%

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,
	2022	2021
Deferred tax assets:
Inventories	$51,505	$41,354
Deferred compensation plan liability	42,285	54,726
Operating lease liabilities	20,043	16,483
Share-based compensation	9,177	8,759
Performance-based compensation accrual	4,482	4,615
Customer rebates accrual	3,323	2,236
Vacation accrual	2,127	1,910
Allowance for doubtful accounts receivable	1,598	2,532
Deferred payroll taxes	1,262	2,372
Other	12,687	9,102
Total deferred tax assets	148,489	144,089
Deferred tax liabilities:
Goodwill and other intangible assets	(176,436)	(145,024)
Property, plant and equipment	(21,746)	(19,580)
Operating lease right-of-use assets	(19,344)	(15,941)
Adoption of ASC 606 (revenue recognition)	(388)	(2,677)
Other	(1,737)	(1,628)
Total deferred tax liabilities	(219,651)	(184,850)
Net deferred tax liability	($71,162)	($40,761)

Summary of Income Tax Contingencies [Table Text Block]

A reconciliation of the activity related to the liability for gross unrecognized tax benefits during fiscal 2022 and 2021 is as follows (in thousands):

	Year ended October 31,
	2022	2021
Balances as of beginning of year	$4,072	$2,946
Increases related to current year tax positions	870	710
Increases related to prior year tax positions	—	839
Decreases related to prior year tax positions	(286)	—
Settlements	(522)	—
Lapses of statutes of limitations	(631)	(423)
Balances as of end of year	$3,503	$4,072