Income Taxes (Tables)

Earnings before income taxes were as follows (in thousands):


Fiscal Years Ended October 31	2020		2019		2018
Earnings before income taxes:
U.S.	$	369,016	$	283,730	$	333,136
Foreign	38,054		38,403		39,261
Total earnings before income taxes	$	407,070	$	322,133	$	372,397

A reconciliation of the statutory federal income tax rate to the company's effective tax rate is summarized as follows:


Fiscal Years Ended October 31	2020		2019		2018
Statutory federal income tax rate	21.0	%	21.0	%	23.3	%
Excess deduction for stock compensation	(1.7)		(3.7)		(3.5)
Domestic manufacturer's deduction	—		0.1		(0.9)
State and local income taxes, net of federal benefit	2.4		1.1		1.3
Foreign operations	(0.6)		(0.3)		(0.5)
Federal research tax credit	(1.7)		(1.5)		(1.2)
Foreign-derived intangible income	—		(1.3)		—
Remeasurement of deferred tax assets and liabilities	—		(0.1)		5.2
Deemed repatriation tax	—		(0.2)		3.6
Other, net	(0.4)		(0.2)		(0.3)
Effective tax rate	19.0	%	14.9	%	27.0	%

Components of the company's provision for income taxes were as follows (in thousands):


Fiscal Years Ended October 31	2020		2019		2018
Current provision:
Federal	$	58,243	$	37,415	$	64,375
State	11,322		7,495		6,192
Foreign	5,534		6,846		7,087
Total current provision	$	75,099	$	51,756	$	77,654
Deferred provision (benefit):
Federal	$	1,710	$	(37)	$	22,074
State	634		(3,205)		308
Foreign	(74)		(364)		422
Total deferred provision (benefit)	2,270		(3,606)		22,804
Total provision for income taxes	$	77,369	$	48,150	$	100,458

The following table presents the tax effects of temporary differences that give rise to deferred income tax assets (liabilities), net (in thousands):


October 31	2020		2019
Deferred income tax assets:
Compensation and benefits	$	30,363	$	27,969
Warranty and insurance	28,480		25,788
Lease liabilities	20,843		—
Advertising and sales allowance	6,937		8,866
Inventory	4,937		4,005
Deferred revenue	2,910		4,373
Other	9,643		4,372
Valuation allowance	(3,570)		(3,199)
Total deferred income tax assets	$	100,543	$	72,174
Deferred income tax liabilities:
Right-of-use assets	$	(20,179)	$	—
Depreciation	(49,018)		(40,964)
Amortization	(95,315)		(75,538)
Total deferred income tax liabilities	(164,512)		(116,502)
Deferred income tax liabilities, net	$	(63,969)	$	(44,328)

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in thousands):


Unrecognized tax benefits as of October 31, 2019	$	2,673
Increase as a result of tax positions taken during a prior period	166
Decrease as a result of tax positions taken during the current period	(183)
Increase as a result of tax positions taken during the current period	291

Reductions as a result of statute of limitations lapses	(87)
Unrecognized tax benefits as of October 31, 2020	$	2,860