Income taxes |
9 Months Ended |
|---|---|
Jul. 31, 2025 | |
| Income Tax Disclosure [Abstract] | |
| Income taxes | Income taxes We record our interim provision for income taxes based on our estimated annual effective tax rate, as well as certain items discrete to the current period. The effective tax rate for the three months ended July 31, 2025 and 2024 was 21.0% and 21.5%, respectively. The effective tax rate for the nine months ended July 31, 2025 and 2024 was 19.7% and 21.1%, respectively. Excluding a discrete tax impact related to the divestiture and related charges taken in the third quarter of 2025, the effective tax rates for the three and nine months ended July 31, 2025 were 19.4% and 19.2%, respectively. The effective tax rate for the nine months ended July 31, 2025 is lower than the U.S. tax rate of 21% primarily due to the foreign-derived intangible income deduction. One Big Beautiful Bill Act On July 4, 2025, the One Big Beautiful Bill Act ("OBBBA") was signed into law in the U.S. The OBBBA includes significant tax law changes, such as the permanent extension of certain expiring provisions of the Tax Cuts and Jobs Act, modifications to the international tax framework and the restoration of favorable tax treatment for certain business provisions. The Company is currently evaluating the OBBBA’s impact and does not expect it to have a material impact on its current year consolidated financial statements
|