v3.26.1
OPERATING SEGMENTS
 6 Months Ended
Apr. 30, 2026
Segment Reporting [Abstract]  
Segment Reporting [Text Block] OPERATING SEGMENTS
The financial results of the Company’s operating segments are reported on the same basis used internally by its Chief Operating Decision Maker (“CODM”). The Company’s Co-Chief Executive Officers serve together as the CODM. The primary measure used by the CODM and management to evaluate segment performance and to make decisions regarding resource allocation and business direction is segment operating income. The CODM uses segment operating income to allocate resources, including personnel and financial resources, among the Company’s operating segments, primarily in connection with the annual planning process, and to monitor segment performance relative to prior periods, budgeted expectations, and anticipated future results. The Company generally accounts for intersegment net sales as if the sales were to third parties at current market prices, and any such net sales and associated profit are eliminated in consolidation.
Information on the Company’s two operating segments, the FSG and the ETG, for the six months ended April 30, 2026 and 2025, respectively, is as follows (in thousands):
Segment
Corporate (1)
Intersegment (2)
Consolidated Totals
FSGETG
Six months ended April 30, 2026:
Net sales to external customers$1,748,184 $806,111 $— $— 
Intersegment net sales1,243 24,096 — (25,339)
Net sales1,749,427 830,207 — (25,339)$2,554,295 
Cost of sales1,074,289 480,722 — (25,205)
Other segment items (3)
231,341 154,430 — — 
Operating income443,797 195,055 (28,382)(134)610,336 
Capital expenditures13,531 17,383 632 — 31,546 
Depreciation (4)
14,038 14,085 891 — 29,014 
Amortization (4)
43,728 34,115 785 — 78,628 
Six months ended April 30, 2025:
Net sales to external customers$1,479,430 $648,612 $— $— 
Intersegment net sales814 23,870 — (24,684)
Net sales1,480,244 672,482 — (24,684)$2,128,042 
Cost of sales917,850 389,667 — (22,941)
Other segment items (3)
211,298 128,479 — — 
Operating income351,096 154,336 (28,732)(1,743)474,957 
Capital expenditures19,014 14,278 7 — 33,299 
Depreciation (4)
13,187 12,030 999 — 26,216 
Amortization (4)
41,094 27,007 785 — 68,886 
(1) Corporate activity consists of unallocated corporate general and administrative expenses.
(2) Intersegment activity principally consists of net sales from the ETG to the FSG.
(3) Represents SG&A expenses.
(4) Depreciation and amortization expense disclosed by reportable segment are included within cost of sales and other segment items.
Information on the Company’s two operating segments, the FSG and the ETG, for the three months ended April 30, 2026 and 2025, respectively, is as follows (in thousands):
Segment
Corporate (1)
Intersegment (2)
Consolidated Totals
FSGETG
Three months ended April 30, 2026:
Net sales to external customers$928,879 $446,834 $— $— 
Intersegment net sales548 12,698 — (13,246)
Net sales929,427 459,532 — (13,246)$1,375,713 
Cost of sales564,173 256,048 — (14,033)
Other segment items (3)
122,190 81,675 — — 
Operating income243,064 121,809 (15,223)787 350,437 
Capital expenditures7,979 9,552 519 — 18,050 
Depreciation (4)
7,257 7,162 434 — 14,853 
Amortization (4)
22,634 18,754 393 — 41,781 
Three months ended April 30, 2025:
Net sales to external customers$766,642 $331,178 $— $— 
Intersegment net sales428 10,989 — (11,417)
Net sales767,070 342,167 — (11,417)$1,097,820 
Cost of sales471,376 199,966 — (11,326)
Other segment items (3)
110,714 64,321 — — 
Operating income184,980 77,880 (14,617)(91)248,152 
Capital expenditures8,768 7,189 7 — 15,964 
Depreciation (4)
6,609 6,061 498 — 13,168 
Amortization (4)
21,840 13,476 393 — 35,709 
(1) Corporate activity consists of unallocated corporate general and administrative expenses.
(2) Intersegment activity principally consists of net sales from the ETG to the FSG.
(3) Represents SG&A expenses.
(4) Depreciation and amortization expense disclosed by reportable segment are included within cost of sales and other segment items.

Total assets by operating segment are as follows (in thousands):
Other,
Primarily Corporate		Consolidated
Totals
Segment
FSGETG
Total assets as of April 30, 2026$5,117,985 $3,998,714 $475,514 $9,592,213 
Total assets as of October 31, 20254,571,887 3,437,221 491,326 8,500,434