INCOME TAXES (Tables)

12 Months Ended

Oct. 31, 2023

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,
	2023	2022	2021
Domestic	$479,990	$429,329	$345,733
Foreign	75,293	61,694	41,325
Income before taxes and noncontrolling interests	$555,283	$491,023	$387,058

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,
	2023	2022	2021
Current:
Federal	$96,492	$63,861	$47,839
State	18,225	13,015	11,639
Foreign	22,714	14,648	13,457
	137,431	91,524	72,935
Deferred:
Federal	(19,049)	8,154	(10,097)
State	(4,311)	1,129	(3,251)
Foreign	(3,171)	(407)	(2,287)
	(26,531)	8,876	(15,635)
Total income tax expense	$110,900	$100,400	$57,300

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,
	2023		2022		2021
Federal statutory income tax rate	21.0	%	21.0	%	21.0	%
State taxes, net of federal income tax benefit	2.5	%	2.6	%	2.9	%
Tax benefit related to stock option exercises	(1.1	%)	(3.6	%)	(3.7	%)
Tax-exempt (gains) losses on corporate-owned life insurance policies	(.6	%)	2.8	%	(2.9	%)
Research and development tax credits	(1.9	%)	(1.5	%)	(2.5	%)
Foreign derived intangible income deduction	(1.9	%)	(1.9	%)	(1.9	%)
Nondeductible compensation	1.4	%	1.2	%	1.2	%
Other, net	.6	%	(.2	%)	.7	%
Effective tax rate	20.0	%	20.4	%	14.8	%

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,
	2023	2022
Deferred tax assets:
Inventories	$85,560	$51,505
Deferred compensation plan liability	44,882	42,285
Capitalized research and development costs	29,142	543
Operating lease liabilities	26,771	20,043
Interest expense limitation carryforward	24,770	24
Share-based compensation	10,665	9,177
Performance-based compensation accrual	6,632	4,482
Customer rebates accrual	4,145	3,323
Other	17,832	17,107
Total deferred tax assets	250,399	148,489
Deferred tax liabilities:
Goodwill and other intangible assets	(324,774)	(176,436)
Property, plant and equipment	(28,533)	(21,746)
Operating lease right-of-use assets	(25,620)	(19,344)
Other	(3,318)	(2,125)
Total deferred tax liabilities	(382,245)	(219,651)
Net deferred tax liability	($131,846)	($71,162)

Summary of Income Tax Contingencies [Table Text Block]

A reconciliation of the activity related to the liability for gross unrecognized tax benefits during fiscal 2023 and 2022 is as follows (in thousands):

	Year ended October 31,
	2023	2022
Balances as of beginning of year	$3,503	$4,072
Increases related to current year tax positions	1,356	870
Increases related to prior year tax positions	214	—
Decreases related to prior year tax positions	—	(286)
Settlements	—	(522)
Lapses of statutes of limitations	(710)	(631)
Balance as of end of year	$4,363	$3,503