The Toro Company (TTC) 10-Q 9 Mar 23 2023 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Feb. 03, 2023	Mar. 02, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Feb. 03, 2023
Document Transition Report	false
Entity File Number	1-8649
Entity Registrant Name	THE TORO COMPANY
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	41-0580470
Entity Address, Address Line One	8111 Lyndale Avenue South
Entity Address, City or Town	Bloomington
Entity Address, State or Province	MN
Entity Address, Postal Zip Code	55420-1196
City Area Code	952
Local Phone Number	888-8801
Title of 12(b) Security	Common Stock, par value $1.00 per share
Trading Symbol	TTC
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		104,284,643
Entity Central Index Key	0000737758
Amendment Flag	false
Current Fiscal Year End Date	--10-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q1

Condensed Consolidated Statemen

Condensed Consolidated Statements of Earnings (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Feb. 03, 2023	Jan. 28, 2022
Income Statement [Abstract]
Net sales	$ 1,148,840	$ 932,650
Cost of sales	752,916	632,174
Gross profit	395,924	300,476
Selling, general and administrative expense	259,497	208,850
Operating earnings	136,427	91,626
Interest expense	(14,124)	(7,013)
Other income, net	9,011	2,534
Earnings before income taxes	131,314	87,147
Provision for income taxes	24,454	17,637
Net earnings	$ 106,860	$ 69,510
Basic net earnings per share of common stock (in dollars per share)	$ 1.02	$ 0.66
Diluted net earnings per share of common stock (in dollars per share)	$ 1.01	$ 0.66
Weighted-average number of shares of common stock outstanding — Basic (in shares)	104,501	105,037
Weighted-average number of shares of common stock outstanding — Diluted (in shares)	105,577	106,048

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Feb. 03, 2023	Jan. 28, 2022
Statement of Comprehensive Income [Abstract]
Net earnings	$ 106,860	$ 69,510
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments	21,182	(5,990)
Derivative instruments, net of tax of $(5,903) and $2,032, respectively	(16,662)	6,372
Other comprehensive income, net of tax	4,520	382
Comprehensive income	$ 111,380	$ 69,892

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive Income (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Feb. 03, 2023	Jan. 28, 2022
Statement of Comprehensive Income [Abstract]
Derivative instruments, tax	$ (5,903)	$ 2,032

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Feb. 03, 2023	Oct. 31, 2022	Jan. 28, 2022
ASSETS
Cash and cash equivalents	$ 174,037	$ 188,250	$ 192,959
Receivables, net	377,262	332,713	366,270
Inventories, net	1,131,438	1,051,109	832,072
Prepaid expenses and other current assets	74,957	103,279	45,962
Total current assets	1,757,694	1,675,351	1,437,263
Property, plant, and equipment, net	584,147	571,661	507,549
Goodwill	584,550	583,297	576,940
Other intangible assets, net	577,064	585,832	600,797
Right-of-use assets	74,573	76,121	78,306
Investment in finance affiliate	45,726	39,349	24,119
Deferred income taxes	11,747	5,310	3,938
Other assets	19,445	19,077	24,133
Total assets	3,654,946	3,555,998	3,253,045
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current portion of long-term debt	0	0	100,000
Accounts payable	475,218	578,624	474,483
Accrued liabilities	496,793	469,242	395,739
Short-term lease liabilities	15,962	15,747	15,842
Total current liabilities	987,973	1,063,613	986,064
Long-term debt, less current portion	1,091,015	990,768	991,354
Long-term lease liabilities	60,680	63,604	65,760
Deferred income taxes	31,444	44,272	50,382
Other long-term liabilities	39,663	42,040	39,936
Stockholders’ equity:
Preferred stock, par value $1.00 per share, authorized 1,000,000 voting and 850,000 non-voting shares, none issued and outstanding	0	0	0
Common stock, par value $1.00 per share, authorized 175,000,000 shares; issued and outstanding 104,283,002 shares as of February 3, 2023, 104,528,510 shares as of January 28, 2022, and 103,969,805 shares as of October 31, 2022	104,283	103,970	104,529
Retained earnings	1,368,493	1,280,856	1,040,634
Accumulated other comprehensive loss	(28,605)	(33,125)	(25,614)
Total stockholders’ equity	1,444,171	1,351,701	1,119,549
Total liabilities and stockholders’ equity	$ 3,654,946	$ 3,555,998	$ 3,253,045

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Feb. 03, 2023	Oct. 31, 2022	Jan. 28, 2022
Stock disclosures
Preferred stock, par value (in dollars per share)	$ 1	$ 1	$ 1
Preferred stock, issued (in shares)	0	0	0
Preferred stock, outstanding (in shares)	0	0	0
Common stock, par value (in dollars per share)	$ 1	$ 1	$ 1
Common stock, authorized (in shares)	175,000,000	175,000,000	175,000,000
Common stock, issued (in shares)	104,283,002	103,969,805	104,528,510
Common stock, outstanding (in shares)	104,283,002	103,969,805	104,528,510
Voting preferred stock
Stock disclosures
Preferred stock, authorized (in shares)	1,000,000	1,000,000	1,000,000
Non-voting preferred stock
Stock disclosures
Preferred stock, authorized (in shares)	850,000	850,000	850,000

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Feb. 03, 2023	Jan. 28, 2022
Cash flows from operating activities:
Net earnings	$ 106,860	$ 69,510
Adjustments to reconcile net earnings to net cash used in operating activities:
Non-cash income from finance affiliate	(3,809)	(1,398)
Contributions to finance affiliate, net	(2,568)	(2,050)
Depreciation of property, plant, and equipment	19,152	18,487
Amortization of other intangible assets	9,129	6,456
Stock-based compensation expense	5,224	5,225
Other	(5)	146
Changes in operating assets and liabilities, net of the effect of acquisitions:
Receivables, net	(42,495)	(50,599)
Inventories, net	(76,769)	(59,171)
Prepaid expenses and other assets	(1,588)	(4,187)
Accounts payable, accrued liabilities, and other liabilities	(81,980)	(72,462)
Net cash used in operating activities	(68,849)	(90,043)
Cash flows from investing activities:
Purchases of property, plant, and equipment	(29,329)	(11,903)
Proceeds from insurance claim	7,114	0
Business combinations, net of cash acquired	0	(401,494)
Proceeds from asset disposals	265	26
Net cash used in investing activities	(21,950)	(413,371)
Cash flows from financing activities:
Borrowings under debt arrangements	170,000	400,000
Repayments under debt arrangements	(70,000)	0
Proceeds from exercise of stock options	14,029	1,150
Payments of withholding taxes for stock awards	(2,647)	(1,381)
Purchases of TTC common stock	0	(75,000)
Dividends paid on TTC common stock	(35,516)	(31,469)
Other	(1,475)	0
Net cash provided by financing activities	74,391	293,300
Effect of exchange rates on cash and cash equivalents	2,195	(2,539)
Net decrease in cash and cash equivalents	(14,213)	(212,653)
Cash and cash equivalents as of the beginning of the fiscal period	188,250	405,612
Cash and cash equivalents as of the end of the fiscal period	$ 174,037	$ 192,959

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Total	Common Stock	Retained Earnings	Accumulated Other Comprehensive Loss
Balance at beginning of period at Oct. 31, 2021	$ 1,151,132	$ 105,206	$ 1,071,922	$ (25,996)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cash dividends paid on common stock	(31,469)		(31,469)
Issuance of common stock	1,183	109	1,074
Stock-based compensation expense	5,225		5,225
Contribution of shares to a deferred compensation trust	(33)	(33)
Purchase of common stock	(76,381)	(753)	(75,628)
Other comprehensive income (loss)	382			382
Net earnings	69,510		69,510
Balance at end of period at Jan. 28, 2022	1,119,549	104,529	1,040,634	(25,614)
Balance at beginning of period at Oct. 31, 2022	1,351,701	103,970	1,280,856	(33,125)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cash dividends paid on common stock	(35,516)		(35,516)
Issuance of common stock	14,043	351	13,692
Stock-based compensation expense	5,224		5,224
Contribution of shares to a deferred compensation trust	(14)	(14)
Purchase of common stock	(2,647)	(24)	(2,623)
Other comprehensive income (loss)	4,520			4,520
Net earnings	106,860		106,860
Balance at end of period at Feb. 03, 2023	$ 1,444,171	$ 104,283	$ 1,368,493	$ (28,605)

Condensed Consolidated Statem_6

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) (Parenthetical) - $ / shares	3 Months Ended
	Feb. 03, 2023	Jan. 28, 2022
Statement of Stockholders' Equity [Abstract]
Cash dividends paid on common stock (in dollars per share)	$ 0.34	$ 0.30
Issuance of share-based payment awards (in shares)	351,032	109,658
Contribution to a deferred compensation trust (in shares)	14,270	33,162
Purchase of shares of common stock (in shares)	23,565	752,519

Basis of Presentation

Basis of Presentation	3 Months Ended
	Feb. 03, 2023
Accounting Policies [Abstract]
Basis of Presentation	1 Basis of Presentation The accompanying unaudited Condensed Consolidated Financial Statements have been prepared in accordance with the instructions to Form 10-Q and do not include all the information and notes required by United States ("U.S.") generally accepted accounting principles ("GAAP") for complete financial statements. Unless the context indicates otherwise, the terms "company," "TTC," "we," "our," or "us" refer to The Toro Company and its consolidated subsidiaries. All intercompany accounts and transactions have been eliminated from the unaudited Condensed Consolidated Financial Statements. In the opinion of management, the unaudited Condensed Consolidated Financial Statements include all adjustments, consisting primarily of recurring accruals, considered necessary for the fair presentation of the company's consolidated financial position, results of operations, and cash flows for the periods presented. Due to seasonality within the industries in which the company's businesses operate, among other factors, operating results for the three months ended February 3, 2023 cannot be annualized to determine the expected results for the fiscal year ending October 31, 2023. The company’s fiscal year ends on October 31 and quarterly results are reported based on three-month periods that generally end on the Friday closest to the calendar quarter end. For comparative purposes, however, the company’s second and third quarters always include exactly 13 weeks of results so that the quarter end date for these two quarters is not necessarily the Friday closest to the calendar month end. For further information regarding the company's basis of presentation, refer to the Consolidated Financial Statements and Notes to Consolidated Financial Statements included in the company’s Annual Report on Form 10-K for the fiscal year ended October 31, 2022. The policies described in that report are used for preparing the company's quarterly reports on Form 10-Q. Accounting Policies and Estimates In preparing the Condensed Consolidated Financial Statements in conformity with U.S. GAAP, management must make decisions that impact the reported amounts of assets, liabilities, revenues, expenses, and the related disclosures, including disclosures of contingent assets and liabilities. Such decisions include the selection of the appropriate accounting principles to be applied and the assumptions on which to base accounting estimates. Estimates are used in determining, among other items, sales promotion and incentive accruals, incentive compensation accruals, income tax accruals, inventory valuation, warranty accruals, allowances for current expected credit losses, pension accruals, self-insurance accruals, legal accruals, right-of-use assets and lease liabilities, useful lives for tangible and finite-lived intangible assets, future cash flows associated with impairment testing for goodwill, indefinite-lived intangible assets and other long-lived assets, and valuations of the assets acquired and liabilities assumed in a business combination or an asset acquisition, when applicable. These estimates and assumptions are based on management’s best estimates and judgments at the time they are made and are generally derived from management's understanding and analysis of the relevant and current circumstances, historical experience, and actuarial and other independent external third-party specialist valuations, when applicable. Management evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors that management believes to be reasonable under the circumstances, including the economic environment. Management adjusts such estimates and assumptions when facts and circumstances dictate. As future events and their effects cannot be determined with certainty, actual amounts could differ significantly from those estimated at the time the Condensed Consolidated Financial Statements are prepared. New Accounting Pronouncements In November 2021, the Financial Accounting Standards Board ("FASB") issued ASU No. 2021-10, Government Assistance (Topic 832): Disclosures by Business Entities about Government Assistance . The update increases the transparency of government assistance including annual disclosure of the types of assistance, an entity’s accounting for the assistance, and the effect of the assistance on an entity’s financial statements. The amended guidance will become effective for the company for the fiscal 2023 annual period. The company is currently evaluating the impact of this new standard on its Consolidated Financial Statements. The company believes that all other recently issued accounting pronouncements from the FASB that the company has not noted above will not have a material impact on its Condensed Consolidated Financial Statements or do not apply to its operations.

Business Combination

Business Combination	3 Months Ended
	Feb. 03, 2023
Business Combination and Asset Acquisition [Abstract]
Business Combination	2 Business Combination Intimidator Group On January 13, 2022 ("the closing date"), during the first quarter of fiscal 2022, the company acquired the privately-held Intimidator Group ("Intimidator") for net aggregate purchase consideration of $399.8 million ("the purchase price"). Intimidator primarily designs, manufactures, markets, and sells a commercial-grade line of zero-turn mowers under the Spartan Mowers brand, which are intended to provide innovative turf management solutions to landscape contractors and other customers who require a commercial-grade solution. The acquisition of Intimidator broadened the company's Professional reportable segment and expanded its manufacturing footprint and dealer network. Purchase Accounting The company accounted for the acquisition in accordance with the accounting standards codification guidance for business combinations, whereby the purchase price was allocated to the acquired net tangible and intangible assets of Intimidator based on their fair values as of the closing date. During the first quarter of fiscal 2023, the company completed its valuation of income taxes to finalize the purchase price allocation. The following table summarizes the allocation of the purchase price to the fair values assigned to the assets acquired and liabilities assumed. These fair values are based on internal company and independent external third-party valuations: (Dollars in thousands) January 13, 2022 Cash and cash equivalents $ 975 Receivables 6,954 Inventories 34,608 Prepaid expenses and other current assets 513 Property, plant, and equipment 27,447 Right-of-use assets 344 Goodwill 163,731 Other intangible assets: Indefinite-lived trade name 99,100 Finite-lived trade names 3,260 Finite-lived customer-related 80,500 Finite-lived backlog 1,340 Accounts payable (8,535) Accrued liabilities (9,152) Short-term lease liabilities (100) Long-term lease liabilities (244) Total fair value of net assets acquired 400,741 Less: cash and cash equivalents acquired (975) Total purchase price $ 399,766 The goodwill recognized is primarily attributable to the expected future cash flows, the value of the workforce, and expected synergies, including customer and dealer growth opportunities, expanding existing product lines, and cost reduction initiatives. Key areas of expected cost synergies include increased purchasing power for commodities, components, parts and accessories, and supply chain consolidation. The goodwill resulting from the acquisition of Intimidator was recognized within the company's Professional segment. The acquisition was considered an asset purchase for income tax purposes and as a result, the goodwill arising from the transaction is deductible. There were no purchase accounting adjustments recorded in fiscal 2023 that impacted the carrying value of goodwill acquired. Other Intangible Assets Acquired The allocation of the purchase price to the net assets acquired resulted in the recognition of $184.2 million of value for other intangible assets as of the closing date. The fair values of the acquired trade names, customer-related, and backlog intangible assets were determined using the income approach whereby an intangible asset's fair value is equal to the present value of future economic benefits to be derived from ownership of the asset. The useful lives of the other intangible assets were determined based on the period of expected cash flows used to measure the fair value of the intangible assets adjusted as appropriate for entity-specific factors including legal, regulatory, contractual, competitive, economic, and/or other factors that may limit the useful life of the respective intangible asset. As of the closing date, the acquired finite-lived intangible assets had a weighted average useful life of 9.5 years. The fair values of the trade names were determined using the relief from royalty method, which

Segment Data

Segment Data	3 Months Ended
	Feb. 03, 2023
Segment Reporting [Abstract]
Segment Data	3 Segment Data The company's businesses are organized, managed, and internally grouped into segments based on similarities in products and services. Segment selection is based on the manner in which the company's chief operating decision maker organizes segments for making operating and investment decisions and assessing performance. The company has identified twelve operating segments and has aggregated certain of those operating segments into two reportable segments: Professional and Residential. The aggregation of the company's segments is based on the segments having the following similarities: economic characteristics, types of products and services, types of production processes, type or class of customers, and method of distribution. The company's remaining activities are presented as "Other" due to their insignificance. The company's Other activities consist of the company's wholly-owned domestic distribution company, the company's corporate activities, and the elimination of intersegment revenues and expenses. The following tables present summarized financial information concerning the company’s reportable business segments and Other activities (dollars in thousands): Three Months Ended February 3, 2023 Professional Residential Other Total Net sales $ 880,660 $ 264,615 $ 3,565 $ 1,148,840 Intersegment gross sales (eliminations) 10,855 39 (10,894) — Earnings (loss) before income taxes 144,076 37,832 (50,594) 131,314 Total assets $ 2,782,797 $ 541,214 $ 330,935 $ 3,654,946 Three Months Ended January 28, 2022 Professional Residential Other Total Net sales $ 672,885 $ 255,402 $ 4,363 $ 932,650 Intersegment gross sales (eliminations) 5,417 15 (5,432) — Earnings (loss) before income taxes 93,272 31,760 (37,885) 87,147 Total assets $ 2,486,201 $ 444,549 $ 322,295 $ 3,253,045 The following table presents the details of operating loss before income taxes for the company's Other activities: Three Months Ended (Dollars in thousands) February 3, 2023 January 28, 2022 Corporate expenses $ (43,662) $ (32,828) Interest expense (14,124) (7,013) Earnings from the company's wholly-owned domestic distribution company and other income, net 7,192 1,956 Total operating loss $ (50,594) $ (37,885)

Revenue

Revenue	3 Months Ended
	Feb. 03, 2023
Revenue from Contract with Customer [Abstract]
Revenue	4 Revenue The following tables disaggregate the company's reportable segment net sales by major product type and geographic market (dollars in thousands): Three Months Ended February 3, 2023 Professional Residential Other Total Revenue by product type: Equipment $ 778,251 $ 253,432 $ 2,444 $ 1,034,127 Irrigation 102,409 11,183 1,121 114,713 Total net sales $ 880,660 $ 264,615 $ 3,565 $ 1,148,840 Revenue by geographic market: United States $ 696,494 $ 203,444 $ 3,565 $ 903,503 International countries 184,166 61,171 — 245,337 Total net sales $ 880,660 $ 264,615 $ 3,565 $ 1,148,840 Three Months Ended January 28, 2022 Professional Residential Other Total Revenue by product type: Equipment $ 570,871 $ 244,589 $ 3,147 $ 818,607 Irrigation 102,014 10,813 1,216 114,043 Total net sales $ 672,885 $ 255,402 $ 4,363 $ 932,650 Revenue by geographic market: United States $ 530,734 $ 202,567 $ 4,363 $ 737,664 International countries 142,151 52,835 — 194,986 Total net sales $ 672,885 $ 255,402 $ 4,363 $ 932,650 Contract Liabilities Contract liabilities relate to deferred revenue recognized for cash consideration received at contract inception in advance of the company's performance under the respective contract and generally relate to the sale of separately priced extended warranty contracts, service contracts, and non-refundable customer deposits. The company recognizes revenue over the term of the contract in proportion to the costs expected to be incurred in satisfying the performance obligations under the separately priced extended warranty and service contracts. For non-refundable customer deposits, the company recognizes revenue as of the point in time in which the performance obligation has been satisfied under the contract with the customer, which typically occurs upon change in control at the time a product is shipped. As of February 3, 2023 and October 31, 2022, $27.0 million and $28.0 million, respectively, of deferred revenue associated with outstanding separately priced extended warranty contracts, service contracts, and non-refundable customer deposits was reported within accrued liabilities and other long-term liabilities in the Condensed Consolidated Balance Sheets. For the three months ended February 3, 2023, the company recognized $6.2 million of the October 31, 2022 deferred revenue balance within net sales in the Condensed Consolidated Statements of Earnings. The company expects to recognize approximately $8.5 million of the October 31, 2022 deferred revenue amount within net sales throughout the remainder of fiscal 2023, $8.1 million in fiscal 2024, and $5.2 million thereafter.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets, Net	3 Months Ended
	Feb. 03, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets, Net	5 Goodwill and Other Intangible Assets, Net Goodwill The changes in the carrying amount of goodwill by reportable segment for the first three months of fiscal 2023 were as follows: (Dollars in thousands) Professional Residential Other Total Balance as of October 31, 2022 $ 573,031 $ 10,266 $ — $ 583,297 Translation adjustments 1,095 158 — 1,253 Balance as of February 3, 2023 $ 574,126 $ 10,424 $ — $ 584,550 Other Intangible Assets, Net The components of other intangible assets, net as of February 3, 2023, January 28, 2022, and October 31, 2022 were as follows (dollars in thousands): February 3, 2023 Weighted-Average Useful Life in Years Gross Carrying Amount Accumulated Amortization Net Patents 9.9 $ 18,253 $ (15,539) $ 2,714 Non-compete agreements 5.5 6,889 (6,872) 17 Customer-related 16.0 321,334 (89,935) 231,399 Developed technology 7.1 102,125 (55,823) 46,302 Trade names 13.7 10,744 (3,624) 7,120 Backlog and other 0.6 5,730 (5,730) — Total finite-lived 13.4 465,075 (177,523) 287,552 Indefinite-lived - trade names 289,512 — 289,512 Total other intangible assets, net $ 754,587 $ (177,523) $ 577,064 January 28, 2022 Weighted-Average Useful Life in Years Gross Carrying Amount Accumulated Amortization Net Patents 9.9 $ 18,291 $ (14,858) $ 3,433 Non-compete agreements 5.5 6,921 (6,885) 36 Customer-related 16.0 322,296 (66,325) 255,971 Developed technology 7.0 87,427 (45,748) 41,679 Trade names 13.7 10,762 (3,038) 7,724 Backlog and other 0.7 6,640 (4,390) 2,250 Total finite-lived 13.5 452,337 (141,244) 311,093 Indefinite-lived - trade names 289,704 — 289,704 Total other intangible assets, net $ 742,041 $ (141,244) $ 600,797 October 31, 2022 Weighted-Average Useful Life in Years Gross Carrying Amount Accumulated Amortization Net Patents 9.9 $ 18,210 $ (15,317) $ 2,893 Non-compete agreements 5.5 6,851 (6,829) 22 Customer-related 16.0 320,959 (83,805) 237,154 Developed technology 7.1 101,915 (53,001) 48,914 Trade names 13.8 10,667 (3,395) 7,272 Backlog and other 0.6 5,730 (5,505) 225 Total finite-lived 13.4 464,332 (167,852) 296,480 Indefinite-lived - trade names 289,352 — 289,352 Total other intangible assets, net $ 753,684 $ (167,852) $ 585,832 Amortization expense for finite-lived intangible assets for the three months ended February 3, 2023 and January 28, 2022 was $9.1 million and $6.5 million, respectively. As of February 3, 2023, estimated amortization expense for the remainder of fiscal 2023 and succeeding fiscal years is as follows: (Dollars in thousands) February 3, 2023 2023 (remaining) $ 25,792 2024 33,022 2025 30,170 2026 28,989 2027 24,055 2028 21,533 Thereafter 123,991 Total estimated amortization expense 287,552

Indebtedness

Indebtedness	3 Months Ended
	Feb. 03, 2023
Debt Disclosure [Abstract]
Indebtedness	6 Indebtedness The following is a summary of the company's indebtedness: (Dollars in thousands) February 3, 2023 January 28, 2022 October 31, 2022 $600 million revolving credit facility, due October 2026 $ 100,000 $ 400,000 $ — $270 million term loan, due October 2026 270,000 270,000 270,000 $200 million term loan, due April 2027 200,000 — 200,000 3.81% series A senior notes, due June 2029 100,000 100,000 100,000 3.91% series B senior notes, due June 2031 100,000 100,000 100,000 3.97% senior notes, due June 2032 100,000 — 100,000 7.8% debentures, due June 2027 100,000 100,000 100,000 6.625% senior notes, due May 2037 124,117 124,055 124,102 Less: unamortized debt issuance costs 3,102 2,701 3,334 Total long-term debt 1,091,015 1,091,354 990,768 Less: current portion of long-term debt — 100,000 — Long-term debt, less current portion $ 1,091,015 $ 991,354 $ 990,768 As of February 3, 2023, principal payments required on the company's outstanding indebtedness, based on the maturity dates defined within the company's debt arrangements, for the remainder of fiscal 2023 and succeeding fiscal years are as follows: (Dollars in thousands) February 3, 2023 2023 (remaining) $ — 2024 $ — 2025 $ 37,000 2026 $ 363,000 2027 $ 270,000 2028 $ — Thereafter $ 425,000 Total principal payments required $ 1,095,000 Covenants The company is in compliance with all covenants under the company’s outstanding indebtedness as of February 3, 2023.

Inventories, Net

Inventories, Net	3 Months Ended
	Feb. 03, 2023
Inventory Disclosure [Abstract]
Inventories, Net	7 Inventories, Net The company uses a combination of inventory valuation methods. Inventories are valued at the lower of cost or net realizable value, with cost determined by the first-in, first-out ("FIFO") and average cost methods for certain of the company's inventories. All remaining inventories are valued at the lower of cost or market, with cost determined under the last-in, first-out ("LIFO") method. As needed, the company records an inventory valuation adjustment for excess, slow-moving, and obsolete inventory that is equal to the excess of the cost of the inventory over the estimated net realizable value or market value for the inventory depending on the inventory costing method. Such inventory valuation adjustment is based on a review and comparison of current inventory levels to planned production, as well as planned and historical sales of the inventory. The inventory valuation adjustment to net realizable value or market value establishes a new cost basis of the inventory that cannot be subsequently reversed. Inventories, net were as follows: (Dollars in thousands) February 3, 2023 January 28, 2022 October 31, 2022 Raw materials and work in process $ 498,283 $ 383,285 $ 482,884 Finished goods and service parts 803,027 584,274 738,097 Total FIFO and average cost value 1,301,310 967,559 1,220,981 Less: adjustment to LIFO value 169,872 135,487 169,872 Total inventories, net $ 1,131,438 $ 832,072 $ 1,051,109

Property, Plant, and Equipment,

Property, Plant, and Equipment, Net	3 Months Ended
	Feb. 03, 2023
Property, Plant and Equipment [Abstract]
Property, Plant, and Equipment, Net	8 Property, Plant, and Equipment, Net Property, plant, and equipment assets are carried at cost less accumulated depreciation. The company generally accounts for depreciation of property, plant, and equipment utilizing the straight-line method over the estimated useful lives of the assets. Buildings and leasehold improvements are generally depreciated over 10 to 40 years, machinery and equipment are generally depreciated over three three two Property, plant, and equipment, net was as follows: (Dollars in thousands) February 3, 2023 January 28, 2022 October 31, 2022 Land and land improvements $ 61,416 $ 57,924 $ 59,550 Buildings and leasehold improvements 327,731 326,137 324,343 Machinery and equipment 559,793 529,289 557,588 Tooling 226,961 221,646 225,865 Computer hardware and software 105,497 97,629 104,713 Construction in process 169,103 95,448 144,418 Property, plant, and equipment, gross 1,450,501 1,328,073 1,416,477 Less: accumulated depreciation 866,354 820,524 844,816 Property, plant, and equipment, net $ 584,147 $ 507,549 $ 571,661

Product Warranty Guarantees

Product Warranty Guarantees	3 Months Ended
	Feb. 03, 2023
Product Warranties Disclosures [Abstract]
Product Warranty Guarantees	9 Product Warranty Guarantees The company’s products are warranted to provide assurance that the product will function as expected and to ensure customer confidence in design, workmanship, and overall quality. Standard warranty coverage is generally provided for specified periods of time and on select products’ hours of usage and generally covers parts, labor, and other expenses for non-maintenance repairs. In addition to the standard warranties offered by the company on its products, the company also sells separately priced extended warranty coverage on select products for a prescribed period after the original warranty period expires. For additional information on the contract liabilities associated with the company's separately priced extended warranties, refer to Note 4, Revenue . At the time of sale, the company recognizes expense and records an accrual by product line for estimated costs in connection with forecasted future warranty claims. The company's estimate of the cost of future warranty claims is based primarily on the estimated number of products under warranty, historical average costs incurred to service warranty claims, the trend in the historical ratio of claims to sales, and the historical length of time between the sale and resulting warranty claim. The company periodically assesses the adequacy of its warranty accruals based on changes in these factors and records any necessary adjustments if the cost of actual claims experience indicates that adjustments to the company's warranty accrual are necessary. Additionally, from time to time, the company may also establish warranty accruals for its estimate of the costs necessary to settle major rework campaigns on a product-specific basis during the period in which the circumstances giving rise to the major rework campaign become known and when the costs to satisfactorily address the situation are both probable and estimable. The warranty accrual for the cost of a major rework campaign is primarily based on an estimate of the cost to repair each affected unit and the number of affected units expected to be repaired. The changes in accrued warranties were as follows: Three Months Ended (Dollars in thousands) February 3, 2023 January 28, 2022 Beginning balance $ 134,541 $ 116,783 Changes in accrual related to warranties during the period (1) 23,293 15,538 Acquisitions — 1,940 Payments made during the period (1) (18,750) (14,255) Changes in accrual related to pre-existing warranties 5,973 (146) Ending balance $ 145,057 $ 119,860 (1) Presentation of prior period changes in accrued warranties has been conformed to the current year presentation. There was no impact to the balance of accrued warranties in any period.

Investment in Joint Venture

Investment in Joint Venture	3 Months Ended
	Feb. 03, 2023
Equity Method Investments and Joint Ventures [Abstract]
Investment in Joint Venture	10 Investment in Joint Venture The company is party to a joint venture with Huntington Distribution Finance, Inc. ("HDF"), a subsidiary of The Huntington National Bank, established as Red Iron Acceptance, LLC ("Red Iron"), the primary purpose of which is to provide customer inventory financing to certain distributors and dealers of certain of the company’s products in the U.S. The company has also entered into a limited inventory repurchase agreement with Red Iron. For additional information regarding the customer financing aspect of the arrangement, as well as the limited inventory purchase agreement, refer to Note 14, Commitments and Contingencies . The company owns 45 percent of Red Iron and HDF owns 55 percent of Red Iron. The company accounts for its investment in Red Iron under the equity method of accounting. The company and HDF each contributed a specified amount of the estimated cash required to enable Red Iron to purchase the company's floor plan financing receivables and to provide financial support for Red Iron's floor plan financing programs. Red Iron borrows the remaining requisite estimated cash utilizing an $800.0 million secured revolving credit facility established under a credit agreement between Red Iron and HDF. The company's total investment in Red Iron as of February 3, 2023, January 28, 2022 and October 31, 2022 was $45.7 million, $24.1 million, and $39.3 million, respectively. The company has not guaranteed the outstanding indebtedness of Red Iron.

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Feb. 03, 2023
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	11 Stock-Based Compensation Compensation costs related to stock-based compensation awards were as follows: Three Months Ended (Dollars in thousands) February 3, 2023 January 28, 2022 Stock option awards $ 1,711 $ 1,828 Performance share awards 818 1,621 Restricted stock unit awards 1,609 1,147 Unrestricted common stock awards 1,086 629 Total compensation cost for stock-based compensation awards $ 5,224 $ 5,225 Stock Option Awards Stock options are granted with an exercise price equal to the closing price of the company’s common stock on the date of grant, as reported by the New York Stock Exchange. Options are generally granted to executive officers, other employees, and non-employee members of the company’s Board of Directors ("Board") on an annual basis in the first quarter of the company’s fiscal year but may also be granted throughout the fiscal year in connection with hiring, mid-year promotions, leadership transition, or retention, as needed and applicable. Options generally vest one-third each year over a three-year period and have a ten-year term but in certain circumstances, the vesting requirement may be modified such that options granted to certain employees vest in full on the three-year anniversary of the date of grant and have a ten-year term. Compensation cost equal to the grant date fair value determined under the Black-Scholes valuation method is generally recognized for these awards over the vesting period. Compensation cost recognized for other employees not considered executive officers and non-employee Board members is net of estimated forfeitures, which are determined at the time of grant based on historical forfeiture experience. Stock options granted to executive officers and other employees are subject to accelerated expensing if the option holder meets the retirement definition set forth in the company's stock-based compensation plans. In that case, the fair value of the options is expensed in the fiscal year of grant because generally, if the option holder is employed as of the end of the fiscal year in which the options are granted, such options will not be forfeited but continue to vest according to their schedule following retirement. Similarly, if a non-employee Board member has served on the company's Board for ten The fair value of each stock option is estimated on the date of grant using various inputs and assumptions under the Black-Scholes valuation method. The expected life is a significant assumption as it determines the period for which the risk-free interest rate, stock price volatility, and dividend yield must be applied. The expected life is the average length of time in which executive officers, other employees, and non-employee Board members are expected to exercise their stock options, which is primarily based on historical exercise experience. The company groups executive officers and non-employee Board members for valuation purposes based on similar historical exercise behavior. Expected stock price volatility is based on the daily movement of the company’s common stock over the most recent historical period equivalent to the expected life of the option. The risk-free interest rate for periods within the contractual life of the option is based on the U.S. Treasury rate over the expected life at the time of grant. The expected dividend yield is estimated over the expected life based on the company’s historical cash dividends paid, expected future cash dividends and dividend yield, and expected changes in the company’s stock price. The table below illustrates the weighted-average valuation assumptions used under the Black-Scholes valuation method for options granted in the first three months of the following fiscal periods: Fiscal 2023 Fiscal 2022 Expected life of option in years 6.32 6.19 Expected stock price volatility 25.19% 23.76% Risk-free interest rate 3.79% 1.30% Expected dividend yield 0.95% 0.93% Per share weighted-average fair value at date of grant $33.23 $22.58 Performance Share Awards The company grants performance share awards to executive officers and other employees under which they are entitled to receive shares of the company’s common stock contingent on the achievement of performance goals of the company, which are generally measured over a three-year period. The number of shares of common stock a participant receives can be increased (up to 200 percent of target levels) or reduced (down to zero) based on the level of achievement of performance goals and will vest at the end of a three-year period. Performance share awards are generally granted on an annual basis in the first quarter of the company’s fiscal year. Compensation cost is recognized for these awards on a straight-line basis over the vesting period based on the per share fair value, which is equal to the closing price of the company's common stock on the date of grant, and the probability of achieving each performance goal. The per share weighted-average fair value of performance share awards granted during the first quarter of fiscal 2023 and 2022 was $112.14 and $98.41, respectively. Restricted Stock Unit Awards Restricted stock unit awards are generally granted to certain employees who are not executive officers. Occasionally, restricted stock unit awards may be granted, including to executive officers, in connection with hiring, mid-year promotions, leadership transition, or retention. Restricted stock unit awards generally vest one-third each year over a three-year period, or vest in full on the three-year anniversary of the date of grant. Compensation cost equal to the grant date fair value, net of estimated forfeitures, is recognized for these awards over the vesting period. The grant date fair value is equal to the closing price of the company's common stock on the date of grant multiplied by the number of shares subject to the restricted stock unit awards and estimated forfeitures are determined on the grant date based on historical forfeiture experience. The per share weighted-average fair value of restricted stock unit awards granted during the first three months of fiscal 2023 and 2022 was $109.78 and $99.94, respectively. Unrestricted Common Stock Awards

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Feb. 03, 2023
Stockholders' Equity Note [Abstract]
Stockholders' Equity	12 Stockholders' Equity Accumulated Other Comprehensive Loss The components of accumulated other comprehensive loss ("AOCL"), net of tax, within the Condensed Consolidated Statements of Stockholders' Equity were as follows: (Dollars in thousands) February 3, 2023 January 28, 2022 October 31, 2022 Foreign currency translation adjustments $ 30,139 $ 25,525 $ 51,321 Pension benefits 3,621 3,899 3,621 Cash flow derivative instruments (5,155) (3,810) (21,817) Total accumulated other comprehensive loss $ 28,605 $ 25,614 $ 33,125 The components and activity of AOCL, net of tax, for the three month periods ended February 3, 2023 and January 28, 2022 were as follows: (Dollars in thousands) Foreign Pension Cash Flow Derivative Instruments Total Balance as of October 31, 2022 $ 51,321 $ 3,621 $ (21,817) $ 33,125 Other comprehensive (income) loss before reclassifications (21,182) — 21,586 404 Amounts reclassified from AOCL — — (4,924) (4,924) Net current period other comprehensive (income) loss (21,182) — 16,662 (4,520) Balance as of February 3, 2023 $ 30,139 $ 3,621 $ (5,155) $ 28,605 (Dollars in thousands) Foreign Pension Cash Flow Derivative Instruments Total Balance as of October 31, 2021 $ 19,535 $ 3,899 $ 2,562 $ 25,996 Other comprehensive (income) loss before reclassifications 5,990 — (6,641) (651) Amounts reclassified from AOCL — — 269 269 Net current period other comprehensive (income) loss 5,990 — (6,372) (382) Balance as of January 28, 2022 $ 25,525 $ 3,899 $ (3,810) $ 25,614 For additional information on the components reclassified from AOCL to the respective line items in net earnings for derivative instruments refer to Note 16, Derivative Instruments and Hedging Activities .

Per Share Data

Per Share Data	3 Months Ended
	Feb. 03, 2023
Earnings Per Share [Abstract]
Per Share Data	13 Per Share Data Reconciliations of basic and diluted weighted-average number of shares of common stock outstanding were as follows: Three Months Ended (Shares in thousands) February 3, 2023 January 28, 2022 Basic Weighted-average number of shares of common stock 104,484 105,015 Assumed issuance of contingent shares 17 22 Weighted-average number of shares of common stock outstanding - Basic 104,501 105,037 Diluted Weighted-average number of shares of common stock outstanding - Basic 104,501 105,037 Effect of dilutive shares 1,076 1,011 Weighted-average number of shares of common stock outstanding - Diluted 105,577 106,048 The effect of dilutive shares from stock option awards and restricted stock unit awards is computed under the treasury stock method. Stock option awards to purchase 268,737 and 466,338 shares of common stock during the first quarter of fiscal 2023

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Feb. 03, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	14 Commitments and Contingencies Customer Financing Arrangements Inventory Financing The company is party to inventory financing arrangements with Red Iron, Huntington Commercial Finance Canada, Inc. ("HCFC"), and other third-party financial institutions (collectively, the "financial institutions") which provide inventory financing to certain dealers and distributors of certain of the company's products in the U.S. and internationally. These financing arrangements are structured as an advance in the form of a payment by the financial institutions to the company on behalf of a distributor or dealer with respect to invoices financed by the financial institution. These payments extinguish the obligation of the dealer or distributor to make payment to the company under the terms of the applicable invoice. Under separate agreements between the financial institutions and the dealers and distributors, the financial institutions provide loans to the dealers and distributors for the advances paid by the financial institutions to the company. Under these financing arrangements, down payments are not required, and depending on the finance program for each product line, finance charges are incurred by the company, shared between the company and the distributor and/or the dealer, or paid by the distributor or dealer. The financial institutions retain a security interest in the distributors' and dealers' financed inventories and such inventories are monitored regularly through audits. Financing terms to the distributors and dealers require payment as the inventory, which secures the indebtedness, is sold to end-users or when payment otherwise become due under the agreements between the financial institutions and the distributors and dealers, whichever occurs first. Rates are generally indexed to the Secured Overnight Financing Rate ("SOFR"), or an alternative variable rate, plus a fixed percentage that differs based on whether the financing is for a distributor or dealer. Rates may also vary based on the product that is financed. The net amount of receivables financed for dealers and distributors under this arrangement with Red Iron for the three months ended February 3, 2023 and January 28, 2022 were $674.4 million and $528.1 million, respectively. The total amount of net receivables outstanding under this arrangement with Red Iron as of February 3, 2023, January 28, 2022, and October 31, 2022 were $942.0 million, $494.6 million and $776.1 million, respectively. The total amount of receivables due from Red Iron to the company as of February 3, 2023, January 28, 2022, and October 31, 2022 were $17.3 million, $28.1 million and $17.7 million, respectively. The net amount of receivables financed for dealers and distributors under the arrangements with HCFC and the other third-party financial institutions for the three months ended February 3, 2023 and January 28, 2022 were $111.3 million and $106.5 million, respectively. As of February 3, 2023, January 28, 2022, and October 31, 2022, $166.1 million, $220.0 million and $220.0 million of receivables financed by HCFC and the other third-party financial institutions were outstanding, respectively. Inventory Repurchase Agreements The company has entered into a limited inventory repurchase agreement with Red Iron and HCFC under which the company has agreed to repurchase certain repossessed products, up to a maximum aggregate amount of $7.5 million in a calendar year. Additionally, as a result of the company's floor plan financing agreements with the other third-party financial institutions, the company also entered into inventory repurchase agreements with the other third-party financial institutions. Under such inventory repurchase agreements, the company has agreed to repurchase products repossessed by the other third-party financial institutions. As of February 3, 2023, January 28, 2022 and October 31, 2022, the company was contingently liable to repurchase up to a maximum amount of $79.4 million, $172.3 million and $80.0 million, respectively, of inventory related to receivables under these inventory repurchase agreements. The company's financial exposure under these inventory repurchase agreements is limited to the difference between the amount paid to Red Iron, HCFC or other third-party financing institutions for repurchases of inventory and the amount received upon subsequent resale of the repossessed product. The company has repurchased immaterial amounts of inventory pursuant to such arrangements for the three months ended February 3, 2023 and January 28, 2022. Litigation From time to time, the company is party to litigation in the ordinary course of business. Such matters are generally subject to uncertainties and to outcomes that are not predictable with assurance and that may not be known for extended periods of time. Litigation occasionally involves claims for punitive, as well as compensatory, damages arising out of the use of the company’s products. Although the company is self-insured to some extent, the company maintains insurance against certain product liability losses. The company is also subject to litigation and administrative and judicial proceedings with respect to claims involving asbestos and the discharge of hazardous substances into the environment. Some of these claims assert damages and liability for personal injury, remedial investigations or clean-up and other costs and damages. The company is also occasionally involved in commercial disputes, employment or employment-related disputes, and patent litigation cases in which it is asserting or defending against patent infringement claims. To prevent possible infringement of the company’s patents by others, the company periodically reviews competitors’ products. To avoid potential liability with respect to others’ patents, the company reviews certain patents issued by the U.S. Patent and Trademark Office and foreign patent offices. The company believes these activities help minimize its risk of being a defendant in patent infringement litigation. The company records a liability in its Condensed Consolidated Financial Statements for costs related to claims, including future legal costs, settlements, and judgments, where the company has assessed that a loss is probable and an amount can be reasonably estimated. If the reasonable estimate of a probable loss is a range, the company records the most probable estimate of the loss or the minimum amount when no amount within the range is a better estimate than any other amount. The company discloses a contingent liability even if the liability is not probable or the amount is not estimable, or both, if there is a reasonable possibility that a material loss may have been incurred. In the opinion of management, the amount of liability, if any, with respect to these matters, individually or in the aggregate, will not materially affect the company's consolidated results of operations, financial position, or cash flows. In situations where the company receives, or expects to receive, a favorable ruling related to a litigation settlement, the company follows the accounting standards codification guidance for gain contingencies. The company does not allow for the recognition of a gain contingency within its Condensed Consolidated Financial Statements prior to the settlement of the underlying events or contingencies associated with the gain contingency. As a result, the consideration related to a gain contingency is recorded in the Condensed Consolidated Financial Statements during the period in which all underlying events or contingencies are resolved and the gain is realized.

Leases

Leases	3 Months Ended
	Feb. 03, 2023
Leases [Abstract]
Leases	15 Leases The company enters into contracts that are, or contain, operating lease agreements for certain property, plant, or equipment assets utilized in the normal course of business, such as buildings for manufacturing facilities, office space, distribution centers, and warehouse facilities; land for product testing sites; machinery and equipment for research and development activities, manufacturing and assembly processes, and administrative tasks; and vehicles for sales, service, marketing, and distribution activities. Contracts that explicitly or implicitly relate to property, plant, and equipment are assessed at inception to determine if the contract is, or contains, a lease. Such contracts for operating lease agreements convey the company's right to direct the use of, and obtain substantially all of the economic benefits from, an identified asset for a defined period of time in exchange for consideration. The lease term begins and is determined upon lease commencement, which is the point in time when the company takes possession of the identified asset, and generally includes all non-cancelable periods. Lease expense for the company's operating leases is recognized on a straight-line basis over the lease term and is recorded within cost of sales or selling, general and administrative expense within the Condensed Consolidated Statements of Earnings as dictated by the nature and use of the underlying asset. The company does not recognize right-of-use assets and lease liabilities, but does recognize expense on a straight-line basis, for short-term operating leases which have a lease term of 12 months or less and do not include an option to purchase the underlying asset. Lease payments are determined at lease commencement and generally represent fixed lease payments as defined within the respective lease agreement or, in the case of certain lease agreements, variable lease payments that are measured as of the lease commencement date based on the prevailing index or market rate. Future adjustments to variable lease payments are defined and scheduled within the respective lease agreement and are determined based upon the prevailing market or index rate at the time of the adjustment relative to the market or index rate determined at lease commencement. Certain other lease agreements contain variable lease payments that are determined based upon actual utilization of the identified asset. Such future adjustments to variable lease payments and variable lease payments based upon actual utilization of the identified asset are not included within the determination of lease payments at commencement but rather, are recorded as variable lease expense in the period in which the variable lease cost is incurred. Right-of-use assets represent the company's right to use an underlying asset throughout the lease term and lease liabilities represent the company's obligation to make lease payments arising from the lease agreement. The company accounts for operating lease liabilities at lease commencement and on an ongoing basis as the present value of the minimum remaining lease payments under the respective lease term. Minimum remaining lease payments are generally discounted to present value based the estimated incremental borrowing rate at lease commencement as the rate implicit in the lease is generally not readily determinable. Right-of-use assets are measured as the amount of the corresponding operating lease liability for the respective operating lease agreement, adjusted for prepaid or accrued lease payments, the remaining balance of any lease incentives received, unamortized initial direct costs, and impairment of the operating lease right-of-use asset, as applicable. The following table presents the lease expense incurred on the company’s operating, short-term, and variable leases: Three Months Ended (Dollars in thousands) February 3, 2023 January 28, 2022 Operating lease expense $ 6,074 $ 6,165 Short-term lease expense 868 1,415 Variable lease expense 25 — Total lease expense $ 6,967 $ 7,580 The following table presents supplemental cash flow information related to the company's operating leases: Three Months Ended (Dollars in thousands) February 3, 2023 January 28, 2022 Operating cash flows for amounts included in the measurement of lease liabilities $ 6,170 $ 4,567 Right-of-use assets obtained in exchange for lease obligations $ 1,892 $ 14,881 The following table presents other lease information related to the company's operating leases: February 3, 2023 January 28, 2022 October 31, 2022 Weighted-average remaining lease term of operating leases in years 5.8 6.6 6.0 Weighted-average discount rate of operating leases 3.61 % 2.56 % 3.53 % The following table reconciles the total undiscounted future cash flows based on the anticipated future minimum operating lease payments by fiscal year for the company's operating leases to the present value of operating lease liabilities recorded within the Condensed Consolidated Balance Sheets as of February 3, 2023: (Dollars in thousands) February 3, 2023 2023 (remaining) $ 13,508 2024 18,455 2025 16,263 2026 10,801 2027 7,524 Thereafter 17,678 Total future minimum operating lease payments 84,229 Less: imputed interest 7,587 Present value of operating lease liabilities $ 76,642

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities	3 Months Ended
	Feb. 03, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedging Activities	16 Derivative Instruments and Hedging Activities Risk Management Objective of Using Derivatives The company is exposed to foreign currency exchange rate risk arising from transactions in the normal course of business, such as sales to third-party customers, sales and loans to wholly-owned foreign subsidiaries, costs associated with foreign plant operations, and purchases from suppliers. The company’s primary currency exchange rate exposures are with the Euro, the Australian dollar, the Canadian dollar, the British pound, the Mexican peso, the Japanese yen, the Chinese renminbi, and the Romanian new leu against the U.S. dollar, as well as the Romanian new leu against the Euro. To reduce its exposure to foreign currency exchange rate risk, the company enters into various derivative instruments to hedge against such risk, authorized under a company policy that places controls on these hedging activities, with counterparties that are highly rated financial institutions. The company’s policy does not allow the use of derivative instruments for trading or speculative purposes. The company has also made an accounting policy election to use the portfolio exception with respect to measuring counterparty credit risk for derivative instruments and to measure the fair value of a portfolio of financial assets and financial liabilities on the basis of the net open risk position with each counterparty. The company’s hedging activities primarily involve the use of forward currency contracts to hedge most foreign currency transactions, including forecasted sales and purchases denominated in foreign currencies. The company uses derivative instruments only in an attempt to limit underlying exposure from foreign currency exchange rate fluctuations and to minimize earnings and cash flow volatility associated with foreign currency exchange rate fluctuations. Decisions on whether to use such derivative instruments are primarily based on the amount of exposure to the currency involved and an assessment of the near-term market value for each currency. The company recognizes all derivative instruments at fair value on the Condensed Consolidated Balance Sheets as either assets or liabilities. The accounting for changes in the fair value of a derivative instrument depends on whether it has been designated and qualifies as a cash flow hedging instrument. Cash Flow Hedging Instruments The company formally documents relationships between cash flow hedging instruments and the related hedged transactions, as well as its risk-management objective and strategy for undertaking cash flow hedging instruments. This process includes linking all cash flow hedging instruments to the forecasted transactions, such as sales to third-parties and costs associated with foreign plant operations, including purchases from suppliers. At the cash flow hedge’s inception and on an ongoing basis, the company formally assesses whether the cash flow hedging instruments have been highly effective in offsetting changes in the cash flows of the hedged transactions and whether those cash flow hedging instruments may be expected to remain highly effective in future periods. Changes in the fair values of the spot rate component of outstanding, highly effective cash flow hedging instruments included in the assessment of hedge effectiveness are recorded in other comprehensive income within AOCL on the Condensed Consolidated Balance Sheets and are subsequently reclassified to net earnings within the Condensed Consolidated Statements of Earnings during the same period in which the cash flows of the underlying hedged transaction affect net earnings. Changes in the fair values of hedge components excluded from the assessment of effectiveness are recognized immediately in net earnings under the mark-to-market approach. The classification of gains or losses recognized on cash flow hedging instruments and excluded components within the Condensed Consolidated Statements of Earnings is the same as that of the underlying exposure. Results of cash flow hedging instruments, and the related excluded components, of sales and costs associated with foreign plant operations, including purchases from suppliers, are recorded in net sales and cost of sales, respectively. The maximum amount of time the company hedges its exposure to the variability in future cash flows for forecasted trade sales and purchases is two years. When it is determined that a derivative instrument is not, or has ceased to be, highly effective as a cash flow hedge, the company discontinues cash flow hedge accounting prospectively. The gain or loss on the dedesignated derivative instrument remains in AOCL and is reclassified to net earnings within the same Condensed Consolidated Statements of Earnings line item as the underlying exposure when the forecasted transaction affects net earnings. When the company discontinues cash flow hedge accounting because it is no longer probable, but it is still reasonably possible that the forecasted transaction will occur by the end of the originally expected period or within an additional two-month period of time thereafter, the gain or loss on the derivative instrument remains in AOCL and is reclassified to net earnings within the same Condensed Consolidated Statements of Earnings line item as the underlying exposure when the forecasted transaction affects net earnings. However, if it is probable that a forecasted transaction will not occur by the end of the originally specified time period or within an additional two-month period of time thereafter, the gains and losses that were in AOCL are immediately recognized in net earnings within other income, net in the Condensed Consolidated Statements of Earnings. In all situations in which cash flow hedge accounting is discontinued and the derivative instrument remains outstanding, the company carries the derivative instrument at its fair value on the Condensed Consolidated Balance Sheets, recognizing future changes in the fair value within other income, net in the Condensed Consolidated Statements of Earnings. As of February 3, 2023, the notional amount outstanding of forward currency contracts designated as cash flow hedging instruments was $288.6 million. Derivatives Not Designated as Cash Flow Hedging Instruments The company also enters into foreign currency contracts that include forward currency contracts to mitigate the remeasurement of specific assets and liabilities on the Condensed Consolidated Balance Sheets. These contracts are not designated as cash flow hedging instruments. Accordingly, changes in the fair value of hedges of recorded balance sheet positions, such as cash, receivables, payables, intercompany notes, and other various contractual claims to pay or receive foreign currencies other than the functional currency, are recognized immediately in other income, net, on the Condensed Consolidated Statements of Earnings together with the transaction gain or loss from the hedged balance sheet position. The following table presents the fair value and location of the company’s derivative instruments on the Condensed Consolidated Balance Sheets: (Dollars in thousands) February 3, 2023 January 28, 2022 October 31, 2022 Derivative assets: Derivatives designated as cash flow hedging instruments: Prepaid expenses and other current assets Forward currency contracts $ 7,757 $ 5,451 $ 27,733 Derivatives not designated as cash flow hedging instruments: Prepaid expenses and other current assets Forward currency contracts 2,852 1,491 5,523 Total derivative assets $ 10,609 $ 6,942 $ 33,256 Derivative liabilities: Derivatives designated as cash flow hedging instruments: Accrued liabilities Forward currency contracts $ 1,345 $ — $ — Derivatives not designated as cash flow hedging instruments: Accrued liabilities Forward currency contracts 127 118 — Total derivative liabilities $ 1,472 $ 118 $ — The company entered into an International Swap Dealers Association ("ISDA") Master Agreement with each counterparty that permits the net settlement of amounts owed under their respective contracts. The ISDA Master Agreement is an industry standardized contract that governs all derivative contracts entered into between the company and the respective counterparty. Under these master netting agreements, net settlement generally permits the company or the counterparty to determine the net amount payable or receivable for contracts due on the same date or in the same currency for similar types of derivative transactions. The company records the fair value of its derivative instruments at the net amount on its Condensed Consolidated Balance Sheets. The following table presents the effects of the master netting arrangements on the fair value of the company’s derivative instruments that are recorded on the Condensed Consolidated Balance Sheets: (Dollars in thousands) February 3, 2023 January 28, 2022 October 31, 2022 Derivative assets: Forward currency contracts: Gross amount of derivative assets $ 11,119 $ 8,118 $ 33,256 Derivative liabilities offsetting derivative assets 510 1,176 — Net amount of derivative assets $ 10,609 $ 6,942 $ 33,256 Derivative liabilities: Forward currency contracts: Gross amount of derivative liabilities $ 1,472 $ 159 $ — Derivative assets offsetting derivative liabilities — 41 — Net amount of derivative liabilities $ 1,472 $ 118 $ — The following table presents the impact and location of the amounts reclassified from AOCL into net earnings on the Condensed Consolidated Statements of Earnings and the impact of derivative instruments on the Condensed Consolidated Statements of Comprehensive Income for the company's derivatives designated as cash flow hedging instruments for the three months ended February 3, 2023 and January 28, 2022: Three Months Ended Gain (Loss) Reclassified from AOCL into Earnings Gain (Loss) Recognized in OCI on Derivatives (Dollars in thousands) February 3, 2023 January 28, 2022 February 3, 2023 January 28, 2022 Derivatives designated as cash flow hedging instruments: Forward currency contracts: Net sales $ 4,061 $ (118) $ (17,263) $ 5,670 Cost of sales 863 (151) 601 702 Total derivatives designated as cash flow hedging instruments $ 4,924 $ (269) $ (16,662) $ 6,372 The company recognized immaterial gains and losses within other income, net in the Condensed Consolidated Statements of Earnings during the first quarter of fiscal 2023 and fiscal 2022, respectively, due to the discontinuance of cash flow hedge accounting on certain forward currency contracts designated as cash flow hedging instruments. As of February 3, 2023, the company expects to reclassify approximately $4.8 million of gains from AOCL to earnings during the next twelve months. The following tables present the impact and location of derivative instruments on the Condensed Consolidated Statements of Earnings for the company’s derivatives designated as cash flow hedging instruments and the related components excluded from effectiveness testing: Gain (Loss) Recognized in Earnings on Cash Flow Hedging Instruments (Dollars in thousands) February 3, 2023 January 28, 2022 Three Months Ended Net Sales Cost of Sales Net Sales Cost of Sales Condensed Consolidated Statements of Earnings income (expense) amounts in which the effects of cash flow hedging instruments are recorded $ 1,148,840 $ (752,916) $ 932,650 $ (632,174) Gain (loss) on derivatives designated as cash flow hedging instruments: Forward currency contracts: Amount of gain (loss) reclassified from AOCL into earnings 4,061 863 (118) (151) Gain (loss) on components excluded from effectiveness testing recognized in earnings based on changes in fair value $ 1,240 $ 567 $ (926) $ 97 The following table presents the impact and location of derivative instruments on the Condensed Consolidated Statements of Earnings for the company’s derivatives not designated as cash flow hedging instruments: Three Months Ended (Dollars in thousands) February 3, 2023 January 28, 2022 (Loss) gain on derivatives not designated as cash flow hedging instruments Forward currency contracts: Other income, net $ (3,398) $ 1,242 Total (loss) gain on derivatives not designated as cash flow hedging instruments $ (3,398) $ 1,242

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Feb. 03, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurements	17 Fair Value Measurements The company categorizes its assets and liabilities into one of three levels based on the assumptions (inputs) used in valuing the asset or liability. Estimates of fair value for financial assets and financial liabilities are based on the framework established in the accounting guidance for fair value measurements. The framework defines fair value, provides guidance for measuring fair value, and requires certain disclosures. The framework discusses valuation techniques such as the market approach (comparable market prices), the income approach (present value of future income or cash flows), and the cost approach (cost to replace the service capacity of an asset or replacement cost). The framework utilizes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. Level 1 provides the most reliable measure of fair value, while Level 3 generally requires significant management judgment. The three levels are defined as follows: Level 1 : Unadjusted quoted prices in active markets for identical assets or liabilities. Level 2 : Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical assets or liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 : Unobservable inputs reflecting management’s assumptions about the inputs used in pricing the asset or liability. Recurring Fair Value Measurements The company's derivative instruments consist of forward currency contracts that are measured at fair value on a recurring basis. The fair value of such forward currency contracts is determined based on observable market transactions of forward currency prices and spot currency rates as of the reporting date. The following tables present, by level within the fair value hierarchy, the company's financial assets and liabilities that are measured at fair value on a recurring basis as of February 3, 2023, January 28, 2022, and October 31, 2022, according to the valuation technique utilized to determine their fair values (dollars in thousands): Fair Value Measurements Using Inputs Considered as: February 3, 2023 Fair Value Level 1 Level 2 Level 3 Assets: Forward currency contracts $ 10,609 $ — $ 10,609 $ — Total assets $ 10,609 $ — $ 10,609 $ — Liabilities: Forward currency contracts $ 1,472 $ — $ 1,472 $ — Total liabilities $ 1,472 $ — $ 1,472 $ — Fair Value Measurements Using Inputs Considered as: January 28, 2022 Fair Value Level 1 Level 2 Level 3 Assets: Forward currency contracts $ 6,942 $ — $ 6,942 $ — Total assets $ 6,942 $ — $ 6,942 $ — Liabilities: Forward currency contracts $ 118 $ — $ 118 $ — Total liabilities $ 118 $ — $ 118 $ — Fair Value Measurements Using Inputs Considered as: October 31, 2022 Fair Value Level 1 Level 2 Level 3 Assets: Forward currency contracts $ 33,256 $ — $ 33,256 $ — Total assets $ 33,256 $ — $ 33,256 $ — Liabilities: Forward currency contracts $ — $ — $ — $ — Total liabilities $ — $ — $ — $ — Nonrecurring Fair Value Measurements The company measures certain assets and liabilities at fair value on a non-recurring basis. Assets and liabilities that are measured at fair value on a nonrecurring basis include long-lived assets, goodwill, and indefinite-lived intangible assets, which would generally be recorded at fair value as a result of an impairment charge. Assets acquired and liabilities assumed as part of a business combination are also measured at fair value on a non-recurring basis during the measurement period allowed by the accounting standards codification guidance for business combinations when applicable. Alternatively, under a cost accumulation model, the company measures the fair values of net assets acquired as part of an asset acquisition before allocating the cost of the asset acquisition to the net assets acquired on the basis of their relative fair values. For additional information on the company's business combination and the related non-recurring fair value measurement of the assets acquired and liabilities assumed, refer to Note 2, Business Combination . Other Fair Value Disclosures The carrying values of the company's short-term financial instruments, including cash and cash equivalents, accounts receivable, accounts payable, and short-term debt, including current maturities of long-term debt, when applicable, approximate their fair values due to their short-term nature. As of February 3, 2023, January 28, 2022, and October 31, 2022, the company's long-term debt included $524.1 million, $424.1 million, and $524.1 million of gross fixed-rate debt that is not subject to variable interest rate fluctuations. The gross fair value of such long-term debt is determined using Level 2 inputs by discounting the projected cash flows based on quoted market rates at which similar amounts of debt could currently be borrowed. As of February 3, 2023, the estimated gross fair value of long-term debt with fixed interest rates was $520.5 million compared to its gross carrying amount of $524.1 million. As of January 28, 2022, the estimated gross fair value of long-term debt with fixed interest rates was $499.1 million compared to its gross carrying amount of $424.1 million. As of October 31, 2022, the estimated gross fair value of long-term debt with fixed interest rates was $489.8 million compared to its gross carrying amount of $524.1 million. For additional information regarding long-term debt with fixed interest rates, refer to Note 6, Indebtedness.

Subsequent Events

Subsequent Events	3 Months Ended
	Feb. 03, 2023
Subsequent Events [Abstract]
Subsequent Events	18 Subsequent Events The company has evaluated all subsequent events and concluded that no subsequent events have occurred that would require recognition in the Condensed Consolidated Financial Statements or disclosure in the Notes to the Condensed Consolidated Financial Statements.

Basis of Presentation (Policies

Basis of Presentation (Policies)	3 Months Ended
	Feb. 03, 2023
Accounting Policies [Abstract]
Basis of Presentation	The accompanying unaudited Condensed Consolidated Financial Statements have been prepared in accordance with the instructions to Form 10-Q and do not include all the information and notes required by United States ("U.S.") generally accepted accounting principles ("GAAP") for complete financial statements. Unless the context indicates otherwise, the terms "company," "TTC," "we," "our," or "us" refer to The Toro Company and its consolidated subsidiaries. All intercompany accounts and transactions have been eliminated from the unaudited Condensed Consolidated Financial Statements.In the opinion of management, the unaudited Condensed Consolidated Financial Statements include all adjustments, consisting primarily of recurring accruals, considered necessary for the fair presentation of the company's consolidated financial position, results of operations, and cash flows for the periods presented.
Fiscal Period	The company’s fiscal year ends on October 31 and quarterly results are reported based on three-month periods that generally end on the Friday closest to the calendar quarter end. For comparative purposes, however, the company’s second and third quarters always include exactly 13 weeks of results so that the quarter end date for these two quarters is not necessarily the Friday closest to the calendar month end. For further information regarding the company's basis of presentation, refer to the Consolidated Financial Statements and Notes to Consolidated Financial Statements included in the company’s Annual Report on Form 10-K for the fiscal year ended October 31, 2022.
Accounting Policies and Estimates	Accounting Policies and Estimates In preparing the Condensed Consolidated Financial Statements in conformity with U.S. GAAP, management must make decisions that impact the reported amounts of assets, liabilities, revenues, expenses, and the related disclosures, including disclosures of contingent assets and liabilities. Such decisions include the selection of the appropriate accounting principles to be applied and the assumptions on which to base accounting estimates. Estimates are used in determining, among other items, sales promotion and incentive accruals, incentive compensation accruals, income tax accruals, inventory valuation, warranty accruals, allowances for current expected credit losses, pension accruals, self-insurance accruals, legal accruals, right-of-use assets and lease liabilities, useful lives for tangible and finite-lived intangible assets, future cash flows associated with impairment testing for goodwill, indefinite-lived intangible assets and other long-lived assets, and valuations of the assets acquired and liabilities assumed in a business combination or an asset acquisition, when applicable. These estimates and assumptions are based on management’s best estimates and judgments at the time they are made and are generally derived from management's understanding and analysis of the relevant and current circumstances, historical experience, and actuarial and other independent external third-party specialist valuations, when applicable. Management evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors that management believes to be reasonable under the circumstances, including the economic environment. Management adjusts such estimates and assumptions when facts and circumstances dictate. As future events and their effects cannot be determined with certainty, actual amounts could differ significantly from those estimated at the time the Condensed Consolidated Financial Statements are prepared.
New Accounting Pronouncements	New Accounting Pronouncements In November 2021, the Financial Accounting Standards Board ("FASB") issued ASU No. 2021-10, Government Assistance (Topic 832): Disclosures by Business Entities about Government Assistance . The update increases the transparency of government assistance including annual disclosure of the types of assistance, an entity’s accounting for the assistance, and the effect of the assistance on an entity’s financial statements. The amended guidance will become effective for the company for the fiscal 2023 annual period. The company is currently evaluating the impact of this new standard on its Consolidated Financial Statements. The company believes that all other recently issued accounting pronouncements from the FASB that the company has not noted above will not have a material impact on its Condensed Consolidated Financial Statements or do not apply to its operations.
Inventories, Net	Inventories are valued at the lower of cost or net realizable value, with cost determined by the first-in, first-out ("FIFO") and average cost methods for certain of the company's inventories. All remaining inventories are valued at the lower of cost or market, with cost determined under the last-in, first-out ("LIFO") method. As needed, the company records an inventory valuation adjustment for excess, slow-moving, and obsolete inventory that is equal to the excess of the cost of the inventory over the estimated net realizable value or market value for the inventory depending on the inventory costing method. Such inventory valuation adjustment is based on a review and comparison of current inventory levels to planned production, as well as planned and historical sales of the inventory. The inventory valuation adjustment to net realizable value or market value establishes a new cost basis of the inventory that cannot be subsequently reversed.
Leases	The company enters into contracts that are, or contain, operating lease agreements for certain property, plant, or equipment assets utilized in the normal course of business, such as buildings for manufacturing facilities, office space, distribution centers, and warehouse facilities; land for product testing sites; machinery and equipment for research and development activities, manufacturing and assembly processes, and administrative tasks; and vehicles for sales, service, marketing, and distribution activities. Contracts that explicitly or implicitly relate to property, plant, and equipment are assessed at inception to determine if the contract is, or contains, a lease. Such contracts for operating lease agreements convey the company's right to direct the use of, and obtain substantially all of the economic benefits from, an identified asset for a defined period of time in exchange for consideration. The lease term begins and is determined upon lease commencement, which is the point in time when the company takes possession of the identified asset, and generally includes all non-cancelable periods. Lease expense for the company's operating leases is recognized on a straight-line basis over the lease term and is recorded within cost of sales or selling, general and administrative expense within the Condensed Consolidated Statements of Earnings as dictated by the nature and use of the underlying asset. The company does not recognize right-of-use assets and lease liabilities, but does recognize expense on a straight-line basis, for short-term operating leases which have a lease term of 12 months or less and do not include an option to purchase the underlying asset. Lease payments are determined at lease commencement and generally represent fixed lease payments as defined within the respective lease agreement or, in the case of certain lease agreements, variable lease payments that are measured as of the lease commencement date based on the prevailing index or market rate. Future adjustments to variable lease payments are defined and scheduled within the respective lease agreement and are determined based upon the prevailing market or index rate at the time of the adjustment relative to the market or index rate determined at lease commencement. Certain other lease agreements contain variable lease payments that are determined based upon actual utilization of the identified asset. Such future adjustments to variable lease payments and variable lease payments based upon actual utilization of the identified asset are not included within the determination of lease payments at commencement but rather, are recorded as variable lease expense in the period in which the variable lease cost is incurred. Right-of-use assets represent the company's right to use an underlying asset throughout the lease term and lease liabilities represent the company's obligation to make lease payments arising from the lease agreement. The company accounts for operating lease liabilities at lease commencement and on an ongoing basis as the present value of the minimum remaining lease payments under the respective lease term. Minimum remaining lease payments are generally discounted to present value based the estimated incremental borrowing rate at lease commencement as the rate implicit in the lease is generally not readily determinable. Right-of-use assets are measured as the amount of the corresponding operating lease liability for the respective operating lease agreement, adjusted for prepaid or accrued lease payments, the remaining balance of any lease incentives received, unamortized initial direct costs, and impairment of the operating lease right-of-use asset, as applicable.
Derivative Instruments and Hedging Activities	Risk Management Objective of Using Derivatives The company is exposed to foreign currency exchange rate risk arising from transactions in the normal course of business, such as sales to third-party customers, sales and loans to wholly-owned foreign subsidiaries, costs associated with foreign plant operations, and purchases from suppliers. The company’s primary currency exchange rate exposures are with the Euro, the Australian dollar, the Canadian dollar, the British pound, the Mexican peso, the Japanese yen, the Chinese renminbi, and the Romanian new leu against the U.S. dollar, as well as the Romanian new leu against the Euro. To reduce its exposure to foreign currency exchange rate risk, the company enters into various derivative instruments to hedge against such risk, authorized under a company policy that places controls on these hedging activities, with counterparties that are highly rated financial institutions. The company’s policy does not allow the use of derivative instruments for trading or speculative purposes. The company has also made an accounting policy election to use the portfolio exception with respect to measuring counterparty credit risk for derivative instruments and to measure the fair value of a portfolio of financial assets and financial liabilities on the basis of the net open risk position with each counterparty. The company’s hedging activities primarily involve the use of forward currency contracts to hedge most foreign currency transactions, including forecasted sales and purchases denominated in foreign currencies. The company uses derivative instruments only in an attempt to limit underlying exposure from foreign currency exchange rate fluctuations and to minimize earnings and cash flow volatility associated with foreign currency exchange rate fluctuations. Decisions on whether to use such derivative instruments are primarily based on the amount of exposure to the currency involved and an assessment of the near-term market value for each currency. The company recognizes all derivative instruments at fair value on the Condensed Consolidated Balance Sheets as either assets or liabilities. The accounting for changes in the fair value of a derivative instrument depends on whether it has been designated and qualifies as a cash flow hedging instrument. Cash Flow Hedging Instruments The company formally documents relationships between cash flow hedging instruments and the related hedged transactions, as well as its risk-management objective and strategy for undertaking cash flow hedging instruments. This process includes linking all cash flow hedging instruments to the forecasted transactions, such as sales to third-parties and costs associated with foreign plant operations, including purchases from suppliers. At the cash flow hedge’s inception and on an ongoing basis, the company formally assesses whether the cash flow hedging instruments have been highly effective in offsetting changes in the cash flows of the hedged transactions and whether those cash flow hedging instruments may be expected to remain highly effective in future periods. Changes in the fair values of the spot rate component of outstanding, highly effective cash flow hedging instruments included in the assessment of hedge effectiveness are recorded in other comprehensive income within AOCL on the Condensed Consolidated Balance Sheets and are subsequently reclassified to net earnings within the Condensed Consolidated Statements of Earnings during the same period in which the cash flows of the underlying hedged transaction affect net earnings. Changes in the fair values of hedge components excluded from the assessment of effectiveness are recognized immediately in net earnings under the mark-to-market approach. The classification of gains or losses recognized on cash flow hedging instruments and excluded components within the Condensed Consolidated Statements of Earnings is the same as that of the underlying exposure. Results of cash flow hedging instruments, and the related excluded components, of sales and costs associated with foreign plant operations, including purchases from suppliers, are recorded in net sales and cost of sales, respectively. The maximum amount of time the company hedges its exposure to the variability in future cash flows for forecasted trade sales and purchases is two years. When it is determined that a derivative instrument is not, or has ceased to be, highly effective as a cash flow hedge, the company discontinues cash flow hedge accounting prospectively. The gain or loss on the dedesignated derivative instrument remains in AOCL and is reclassified to net earnings within the same Condensed Consolidated Statements of Earnings line item as the underlying exposure when the forecasted transaction affects net earnings. When the company discontinues cash flow hedge accounting because it is no longer probable, but it is still reasonably possible that the forecasted transaction will occur by the end of the originally expected period or within an additional two-month period of time thereafter, the gain or loss on the derivative instrument remains in AOCL and is reclassified to net earnings within the same Condensed Consolidated Statements of Earnings line item as the underlying exposure when the forecasted transaction affects net earnings. However, if it is probable that a forecasted transaction will not occur by the end of the originally specified time period or within an additional two-month period of time thereafter, the gains and losses that were in AOCL are immediately recognized in net earnings within other income, net in the Condensed Consolidated Statements of Earnings. In all situations in which cash flow hedge accounting is discontinued and the derivative instrument remains outstanding, the company carries the derivative instrument at its fair value on the Condensed Consolidated Balance Sheets, recognizing future changes in the fair value within other income, net in the Condensed Consolidated Statements of Earnings. As of February 3, 2023, the notional amount outstanding of forward currency contracts designated as cash flow hedging instruments was $288.6 million. Derivatives Not Designated as Cash Flow Hedging Instruments The company also enters into foreign currency contracts that include forward currency contracts to mitigate the remeasurement of specific assets and liabilities on the Condensed Consolidated Balance Sheets. These contracts are not designated as cash flow hedging instruments. Accordingly, changes in the fair value of hedges of recorded balance sheet positions, such as cash, receivables, payables, intercompany notes, and other various contractual claims to pay or receive foreign currencies other than the functional currency, are recognized immediately in other income, net, on the Condensed Consolidated Statements of Earnings together with the transaction gain or loss from the hedged balance sheet position.
Fair Value Measurements	The company categorizes its assets and liabilities into one of three levels based on the assumptions (inputs) used in valuing the asset or liability. Estimates of fair value for financial assets and financial liabilities are based on the framework established in the accounting guidance for fair value measurements. The framework defines fair value, provides guidance for measuring fair value, and requires certain disclosures. The framework discusses valuation techniques such as the market approach (comparable market prices), the income approach (present value of future income or cash flows), and the cost approach (cost to replace the service capacity of an asset or replacement cost). The framework utilizes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. Level 1 provides the most reliable measure of fair value, while Level 3 generally requires significant management judgment. The three levels are defined as follows: Level 1 : Unadjusted quoted prices in active markets for identical assets or liabilities. Level 2 : Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical assets or liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 : Unobservable inputs reflecting management’s assumptions about the inputs used in pricing the asset or liability. Recurring Fair Value Measurements The company's derivative instruments consist of forward currency contracts that are measured at fair value on a recurring basis. The fair value of such forward currency contracts is determined based on observable market transactions of forward currency prices and spot currency rates as of the reporting date. Nonrecurring Fair Value Measurements The company measures certain assets and liabilities at fair value on a non-recurring basis. Assets and liabilities that are measured at fair value on a nonrecurring basis include long-lived assets, goodwill, and indefinite-lived intangible assets, which would generally be recorded at fair value as a result of an impairment charge. Assets acquired and liabilities assumed as part of a business combination are also measured at fair value on a non-recurring basis during the measurement period allowed by the accounting standards codification guidance for business combinations when applicable. Alternatively, under a cost accumulation model, the company measures the fair values of net assets acquired as part of an asset acquisition before allocating the cost of the asset acquisition to the net assets acquired on the basis of their relative fair values. For additional information on the company's business combination and the related non-recurring fair value measurement of the assets acquired and liabilities assumed, refer to Note 2, Business Combination . Other Fair Value Disclosures

Business Combination (Tables)

Business Combination (Tables)	3 Months Ended
	Feb. 03, 2023
Business Combination and Asset Acquisition [Abstract]
Summary of Allocation of Preliminary Purchase Price Assigned to Intimidator Group	The following table summarizes the allocation of the purchase price to the fair values assigned to the assets acquired and liabilities assumed. These fair values are based on internal company and independent external third-party valuations: (Dollars in thousands) January 13, 2022 Cash and cash equivalents $ 975 Receivables 6,954 Inventories 34,608 Prepaid expenses and other current assets 513 Property, plant, and equipment 27,447 Right-of-use assets 344 Goodwill 163,731 Other intangible assets: Indefinite-lived trade name 99,100 Finite-lived trade names 3,260 Finite-lived customer-related 80,500 Finite-lived backlog 1,340 Accounts payable (8,535) Accrued liabilities (9,152) Short-term lease liabilities (100) Long-term lease liabilities (244) Total fair value of net assets acquired 400,741 Less: cash and cash equivalents acquired (975) Total purchase price $ 399,766

Segment Data (Tables)

Segment Data (Tables)	3 Months Ended
	Feb. 03, 2023
Segment Reporting [Abstract]
Summarized Financial Information Concerning Reportable Segments	The following tables present summarized financial information concerning the company’s reportable business segments and Other activities (dollars in thousands): Three Months Ended February 3, 2023 Professional Residential Other Total Net sales $ 880,660 $ 264,615 $ 3,565 $ 1,148,840 Intersegment gross sales (eliminations) 10,855 39 (10,894) — Earnings (loss) before income taxes 144,076 37,832 (50,594) 131,314 Total assets $ 2,782,797 $ 541,214 $ 330,935 $ 3,654,946 Three Months Ended January 28, 2022 Professional Residential Other Total Net sales $ 672,885 $ 255,402 $ 4,363 $ 932,650 Intersegment gross sales (eliminations) 5,417 15 (5,432) — Earnings (loss) before income taxes 93,272 31,760 (37,885) 87,147 Total assets $ 2,486,201 $ 444,549 $ 322,295 $ 3,253,045
Summary of Components of Loss Before Income Taxes Included in Other Segment	The following table presents the details of operating loss before income taxes for the company's Other activities: Three Months Ended (Dollars in thousands) February 3, 2023 January 28, 2022 Corporate expenses $ (43,662) $ (32,828) Interest expense (14,124) (7,013) Earnings from the company's wholly-owned domestic distribution company and other income, net 7,192 1,956 Total operating loss $ (50,594) $ (37,885)

Revenue (Tables)

Revenue (Tables)	3 Months Ended
	Feb. 03, 2023
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following tables disaggregate the company's reportable segment net sales by major product type and geographic market (dollars in thousands): Three Months Ended February 3, 2023 Professional Residential Other Total Revenue by product type: Equipment $ 778,251 $ 253,432 $ 2,444 $ 1,034,127 Irrigation 102,409 11,183 1,121 114,713 Total net sales $ 880,660 $ 264,615 $ 3,565 $ 1,148,840 Revenue by geographic market: United States $ 696,494 $ 203,444 $ 3,565 $ 903,503 International countries 184,166 61,171 — 245,337 Total net sales $ 880,660 $ 264,615 $ 3,565 $ 1,148,840 Three Months Ended January 28, 2022 Professional Residential Other Total Revenue by product type: Equipment $ 570,871 $ 244,589 $ 3,147 $ 818,607 Irrigation 102,014 10,813 1,216 114,043 Total net sales $ 672,885 $ 255,402 $ 4,363 $ 932,650 Revenue by geographic market: United States $ 530,734 $ 202,567 $ 4,363 $ 737,664 International countries 142,151 52,835 — 194,986 Total net sales $ 672,885 $ 255,402 $ 4,363 $ 932,650

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets, Net (Tables)	3 Months Ended
	Feb. 03, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The changes in the carrying amount of goodwill by reportable segment for the first three months of fiscal 2023 were as follows: (Dollars in thousands) Professional Residential Other Total Balance as of October 31, 2022 $ 573,031 $ 10,266 $ — $ 583,297 Translation adjustments 1,095 158 — 1,253 Balance as of February 3, 2023 $ 574,126 $ 10,424 $ — $ 584,550
Schedule of Finite-Lived Intangible Assets	The components of other intangible assets, net as of February 3, 2023, January 28, 2022, and October 31, 2022 were as follows (dollars in thousands): February 3, 2023 Weighted-Average Useful Life in Years Gross Carrying Amount Accumulated Amortization Net Patents 9.9 $ 18,253 $ (15,539) $ 2,714 Non-compete agreements 5.5 6,889 (6,872) 17 Customer-related 16.0 321,334 (89,935) 231,399 Developed technology 7.1 102,125 (55,823) 46,302 Trade names 13.7 10,744 (3,624) 7,120 Backlog and other 0.6 5,730 (5,730) — Total finite-lived 13.4 465,075 (177,523) 287,552 Indefinite-lived - trade names 289,512 — 289,512 Total other intangible assets, net $ 754,587 $ (177,523) $ 577,064 January 28, 2022 Weighted-Average Useful Life in Years Gross Carrying Amount Accumulated Amortization Net Patents 9.9 $ 18,291 $ (14,858) $ 3,433 Non-compete agreements 5.5 6,921 (6,885) 36 Customer-related 16.0 322,296 (66,325) 255,971 Developed technology 7.0 87,427 (45,748) 41,679 Trade names 13.7 10,762 (3,038) 7,724 Backlog and other 0.7 6,640 (4,390) 2,250 Total finite-lived 13.5 452,337 (141,244) 311,093 Indefinite-lived - trade names 289,704 — 289,704 Total other intangible assets, net $ 742,041 $ (141,244) $ 600,797 October 31, 2022 Weighted-Average Useful Life in Years Gross Carrying Amount Accumulated Amortization Net Patents 9.9 $ 18,210 $ (15,317) $ 2,893 Non-compete agreements 5.5 6,851 (6,829) 22 Customer-related 16.0 320,959 (83,805) 237,154 Developed technology 7.1 101,915 (53,001) 48,914 Trade names 13.8 10,667 (3,395) 7,272 Backlog and other 0.6 5,730 (5,505) 225 Total finite-lived 13.4 464,332 (167,852) 296,480 Indefinite-lived - trade names 289,352 — 289,352 Total other intangible assets, net $ 753,684 $ (167,852) $ 585,832
Schedule of Indefinite-Lived Intangible Assets	The components of other intangible assets, net as of February 3, 2023, January 28, 2022, and October 31, 2022 were as follows (dollars in thousands): February 3, 2023 Weighted-Average Useful Life in Years Gross Carrying Amount Accumulated Amortization Net Patents 9.9 $ 18,253 $ (15,539) $ 2,714 Non-compete agreements 5.5 6,889 (6,872) 17 Customer-related 16.0 321,334 (89,935) 231,399 Developed technology 7.1 102,125 (55,823) 46,302 Trade names 13.7 10,744 (3,624) 7,120 Backlog and other 0.6 5,730 (5,730) — Total finite-lived 13.4 465,075 (177,523) 287,552 Indefinite-lived - trade names 289,512 — 289,512 Total other intangible assets, net $ 754,587 $ (177,523) $ 577,064 January 28, 2022 Weighted-Average Useful Life in Years Gross Carrying Amount Accumulated Amortization Net Patents 9.9 $ 18,291 $ (14,858) $ 3,433 Non-compete agreements 5.5 6,921 (6,885) 36 Customer-related 16.0 322,296 (66,325) 255,971 Developed technology 7.0 87,427 (45,748) 41,679 Trade names 13.7 10,762 (3,038) 7,724 Backlog and other 0.7 6,640 (4,390) 2,250 Total finite-lived 13.5 452,337 (141,244) 311,093 Indefinite-lived - trade names 289,704 — 289,704 Total other intangible assets, net $ 742,041 $ (141,244) $ 600,797 October 31, 2022 Weighted-Average Useful Life in Years Gross Carrying Amount Accumulated Amortization Net Patents 9.9 $ 18,210 $ (15,317) $ 2,893 Non-compete agreements 5.5 6,851 (6,829) 22 Customer-related 16.0 320,959 (83,805) 237,154 Developed technology 7.1 101,915 (53,001) 48,914 Trade names 13.8 10,667 (3,395) 7,272 Backlog and other 0.6 5,730 (5,505) 225 Total finite-lived 13.4 464,332 (167,852) 296,480 Indefinite-lived - trade names 289,352 — 289,352 Total other intangible assets, net $ 753,684 $ (167,852) $ 585,832
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense	estimated amortization expense for the remainder of fiscal 2023 and succeeding fiscal years is as follows: (Dollars in thousands) February 3, 2023 2023 (remaining) $ 25,792 2024 33,022 2025 30,170 2026 28,989 2027 24,055 2028 21,533 Thereafter 123,991 Total estimated amortization expense 287,552

Indebtedness (Tables)

Indebtedness (Tables)	3 Months Ended
	Feb. 03, 2023
Debt Disclosure [Abstract]
Summary of Debt	The following is a summary of the company's indebtedness: (Dollars in thousands) February 3, 2023 January 28, 2022 October 31, 2022 $600 million revolving credit facility, due October 2026 $ 100,000 $ 400,000 $ — $270 million term loan, due October 2026 270,000 270,000 270,000 $200 million term loan, due April 2027 200,000 — 200,000 3.81% series A senior notes, due June 2029 100,000 100,000 100,000 3.91% series B senior notes, due June 2031 100,000 100,000 100,000 3.97% senior notes, due June 2032 100,000 — 100,000 7.8% debentures, due June 2027 100,000 100,000 100,000 6.625% senior notes, due May 2037 124,117 124,055 124,102 Less: unamortized debt issuance costs 3,102 2,701 3,334 Total long-term debt 1,091,015 1,091,354 990,768 Less: current portion of long-term debt — 100,000 — Long-term debt, less current portion $ 1,091,015 $ 991,354 $ 990,768
Schedule of Principal Payments	principal payments required on the company's outstanding indebtedness, based on the maturity dates defined within the company's debt arrangements, for the remainder of fiscal 2023 and succeeding fiscal years are as follows: (Dollars in thousands) February 3, 2023 2023 (remaining) $ — 2024 $ — 2025 $ 37,000 2026 $ 363,000 2027 $ 270,000 2028 $ — Thereafter $ 425,000 Total principal payments required $ 1,095,000

Inventories, Net (Tables)

Inventories, Net (Tables)	3 Months Ended
	Feb. 03, 2023
Inventory Disclosure [Abstract]
Schedule of Inventory	Inventories, net were as follows: (Dollars in thousands) February 3, 2023 January 28, 2022 October 31, 2022 Raw materials and work in process $ 498,283 $ 383,285 $ 482,884 Finished goods and service parts 803,027 584,274 738,097 Total FIFO and average cost value 1,301,310 967,559 1,220,981 Less: adjustment to LIFO value 169,872 135,487 169,872 Total inventories, net $ 1,131,438 $ 832,072 $ 1,051,109

Property, Plant, and Equipmen_2

Property, Plant, and Equipment, Net (Tables)	3 Months Ended
	Feb. 03, 2023
Property, Plant and Equipment [Abstract]
Summary of Property, Plant and Equipment	Property, plant, and equipment, net was as follows: (Dollars in thousands) February 3, 2023 January 28, 2022 October 31, 2022 Land and land improvements $ 61,416 $ 57,924 $ 59,550 Buildings and leasehold improvements 327,731 326,137 324,343 Machinery and equipment 559,793 529,289 557,588 Tooling 226,961 221,646 225,865 Computer hardware and software 105,497 97,629 104,713 Construction in process 169,103 95,448 144,418 Property, plant, and equipment, gross 1,450,501 1,328,073 1,416,477 Less: accumulated depreciation 866,354 820,524 844,816 Property, plant, and equipment, net $ 584,147 $ 507,549 $ 571,661

Product Warranty Guarantees (Ta

Product Warranty Guarantees (Tables)	3 Months Ended
	Feb. 03, 2023
Product Warranties Disclosures [Abstract]
Schedule of Changes in Accrued Warranties	The changes in accrued warranties were as follows: Three Months Ended (Dollars in thousands) February 3, 2023 January 28, 2022 Beginning balance $ 134,541 $ 116,783 Changes in accrual related to warranties during the period (1) 23,293 15,538 Acquisitions — 1,940 Payments made during the period (1) (18,750) (14,255) Changes in accrual related to pre-existing warranties 5,973 (146) Ending balance $ 145,057 $ 119,860 (1) Presentation of prior period changes in accrued warranties has been conformed to the current year presentation. There was no impact to the balance of accrued warranties in any period.

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
	Feb. 03, 2023
Share-Based Payment Arrangement [Abstract]
Schedule of Compensation Cost Related to Stock-Based Awards	Compensation costs related to stock-based compensation awards were as follows: Three Months Ended (Dollars in thousands) February 3, 2023 January 28, 2022 Stock option awards $ 1,711 $ 1,828 Performance share awards 818 1,621 Restricted stock unit awards 1,609 1,147 Unrestricted common stock awards 1,086 629 Total compensation cost for stock-based compensation awards $ 5,224 $ 5,225
Schedule of Assumptions for Options Granted	The table below illustrates the weighted-average valuation assumptions used under the Black-Scholes valuation method for options granted in the first three months of the following fiscal periods: Fiscal 2023 Fiscal 2022 Expected life of option in years 6.32 6.19 Expected stock price volatility 25.19% 23.76% Risk-free interest rate 3.79% 1.30% Expected dividend yield 0.95% 0.93% Per share weighted-average fair value at date of grant $33.23 $22.58

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	3 Months Ended
	Feb. 03, 2023
Stockholders' Equity Note [Abstract]
Schedule of Components of Accumulated Other Comprehensive Loss (AOCL), Net of Tax	The components of accumulated other comprehensive loss ("AOCL"), net of tax, within the Condensed Consolidated Statements of Stockholders' Equity were as follows: (Dollars in thousands) February 3, 2023 January 28, 2022 October 31, 2022 Foreign currency translation adjustments $ 30,139 $ 25,525 $ 51,321 Pension benefits 3,621 3,899 3,621 Cash flow derivative instruments (5,155) (3,810) (21,817) Total accumulated other comprehensive loss $ 28,605 $ 25,614 $ 33,125
Schedule of Components and Activity of AOCL	The components and activity of AOCL, net of tax, for the three month periods ended February 3, 2023 and January 28, 2022 were as follows: (Dollars in thousands) Foreign Pension Cash Flow Derivative Instruments Total Balance as of October 31, 2022 $ 51,321 $ 3,621 $ (21,817) $ 33,125 Other comprehensive (income) loss before reclassifications (21,182) — 21,586 404 Amounts reclassified from AOCL — — (4,924) (4,924) Net current period other comprehensive (income) loss (21,182) — 16,662 (4,520) Balance as of February 3, 2023 $ 30,139 $ 3,621 $ (5,155) $ 28,605 (Dollars in thousands) Foreign Pension Cash Flow Derivative Instruments Total Balance as of October 31, 2021 $ 19,535 $ 3,899 $ 2,562 $ 25,996 Other comprehensive (income) loss before reclassifications 5,990 — (6,641) (651) Amounts reclassified from AOCL — — 269 269 Net current period other comprehensive (income) loss 5,990 — (6,372) (382) Balance as of January 28, 2022 $ 25,525 $ 3,899 $ (3,810) $ 25,614

Per Share Data (Tables)

Per Share Data (Tables)	3 Months Ended
	Feb. 03, 2023
Earnings Per Share [Abstract]
Reconciliations of Basic and Diluted Weighted-Average Shares of Common Stock Outstanding	Reconciliations of basic and diluted weighted-average number of shares of common stock outstanding were as follows: Three Months Ended (Shares in thousands) February 3, 2023 January 28, 2022 Basic Weighted-average number of shares of common stock 104,484 105,015 Assumed issuance of contingent shares 17 22 Weighted-average number of shares of common stock outstanding - Basic 104,501 105,037 Diluted Weighted-average number of shares of common stock outstanding - Basic 104,501 105,037 Effect of dilutive shares 1,076 1,011 Weighted-average number of shares of common stock outstanding - Diluted 105,577 106,048

Leases (Tables)

Leases (Tables)	3 Months Ended
	Feb. 03, 2023
Leases [Abstract]
Supplemental Cash Flow and Other Lease Information	The following table presents the lease expense incurred on the company’s operating, short-term, and variable leases: Three Months Ended (Dollars in thousands) February 3, 2023 January 28, 2022 Operating lease expense $ 6,074 $ 6,165 Short-term lease expense 868 1,415 Variable lease expense 25 — Total lease expense $ 6,967 $ 7,580 The following table presents supplemental cash flow information related to the company's operating leases: Three Months Ended (Dollars in thousands) February 3, 2023 January 28, 2022 Operating cash flows for amounts included in the measurement of lease liabilities $ 6,170 $ 4,567 Right-of-use assets obtained in exchange for lease obligations $ 1,892 $ 14,881 The following table presents other lease information related to the company's operating leases: February 3, 2023 January 28, 2022 October 31, 2022 Weighted-average remaining lease term of operating leases in years 5.8 6.6 6.0 Weighted-average discount rate of operating leases 3.61 % 2.56 % 3.53 %
Future Minimum Operating Lease Payments	The following table reconciles the total undiscounted future cash flows based on the anticipated future minimum operating lease payments by fiscal year for the company's operating leases to the present value of operating lease liabilities recorded within the Condensed Consolidated Balance Sheets as of February 3, 2023: (Dollars in thousands) February 3, 2023 2023 (remaining) $ 13,508 2024 18,455 2025 16,263 2026 10,801 2027 7,524 Thereafter 17,678 Total future minimum operating lease payments 84,229 Less: imputed interest 7,587 Present value of operating lease liabilities $ 76,642

Derivative Instruments and He_2

Derivative Instruments and Hedging Activities (Tables)	3 Months Ended
	Feb. 03, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Fair Value of Derivatives and Consolidated Balance Sheet Location	The following table presents the fair value and location of the company’s derivative instruments on the Condensed Consolidated Balance Sheets: (Dollars in thousands) February 3, 2023 January 28, 2022 October 31, 2022 Derivative assets: Derivatives designated as cash flow hedging instruments: Prepaid expenses and other current assets Forward currency contracts $ 7,757 $ 5,451 $ 27,733 Derivatives not designated as cash flow hedging instruments: Prepaid expenses and other current assets Forward currency contracts 2,852 1,491 5,523 Total derivative assets $ 10,609 $ 6,942 $ 33,256 Derivative liabilities: Derivatives designated as cash flow hedging instruments: Accrued liabilities Forward currency contracts $ 1,345 $ — $ — Derivatives not designated as cash flow hedging instruments: Accrued liabilities Forward currency contracts 127 118 — Total derivative liabilities $ 1,472 $ 118 $ —
Schedule of Effects of Master Netting Arrangements on Fair Value of Derivative Contracts Recorded in Consolidated Balance Sheets	The following table presents the effects of the master netting arrangements on the fair value of the company’s derivative instruments that are recorded on the Condensed Consolidated Balance Sheets: (Dollars in thousands) February 3, 2023 January 28, 2022 October 31, 2022 Derivative assets: Forward currency contracts: Gross amount of derivative assets $ 11,119 $ 8,118 $ 33,256 Derivative liabilities offsetting derivative assets 510 1,176 — Net amount of derivative assets $ 10,609 $ 6,942 $ 33,256 Derivative liabilities: Forward currency contracts: Gross amount of derivative liabilities $ 1,472 $ 159 $ — Derivative assets offsetting derivative liabilities — 41 — Net amount of derivative liabilities $ 1,472 $ 118 $ —
Schedule of Impact of Derivative Instruments on Consolidated Statements of Earnings for Derivatives Designated as Cash Flow Hedging Instruments	The following table presents the impact and location of the amounts reclassified from AOCL into net earnings on the Condensed Consolidated Statements of Earnings and the impact of derivative instruments on the Condensed Consolidated Statements of Comprehensive Income for the company's derivatives designated as cash flow hedging instruments for the three months ended February 3, 2023 and January 28, 2022: Three Months Ended Gain (Loss) Reclassified from AOCL into Earnings Gain (Loss) Recognized in OCI on Derivatives (Dollars in thousands) February 3, 2023 January 28, 2022 February 3, 2023 January 28, 2022 Derivatives designated as cash flow hedging instruments: Forward currency contracts: Net sales $ 4,061 $ (118) $ (17,263) $ 5,670 Cost of sales 863 (151) 601 702 Total derivatives designated as cash flow hedging instruments $ 4,924 $ (269) $ (16,662) $ 6,372 The following tables present the impact and location of derivative instruments on the Condensed Consolidated Statements of Earnings for the company’s derivatives designated as cash flow hedging instruments and the related components excluded from effectiveness testing: Gain (Loss) Recognized in Earnings on Cash Flow Hedging Instruments (Dollars in thousands) February 3, 2023 January 28, 2022 Three Months Ended Net Sales Cost of Sales Net Sales Cost of Sales Condensed Consolidated Statements of Earnings income (expense) amounts in which the effects of cash flow hedging instruments are recorded $ 1,148,840 $ (752,916) $ 932,650 $ (632,174) Gain (loss) on derivatives designated as cash flow hedging instruments: Forward currency contracts: Amount of gain (loss) reclassified from AOCL into earnings 4,061 863 (118) (151) Gain (loss) on components excluded from effectiveness testing recognized in earnings based on changes in fair value $ 1,240 $ 567 $ (926) $ 97
Schedule of Impact of Derivative Instruments on Consolidated Statements of Earnings for Derivatives Not Designated as Hedging Instruments	The following table presents the impact and location of derivative instruments on the Condensed Consolidated Statements of Earnings for the company’s derivatives not designated as cash flow hedging instruments: Three Months Ended (Dollars in thousands) February 3, 2023 January 28, 2022 (Loss) gain on derivatives not designated as cash flow hedging instruments Forward currency contracts: Other income, net $ (3,398) $ 1,242 Total (loss) gain on derivatives not designated as cash flow hedging instruments $ (3,398) $ 1,242

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Feb. 03, 2023
Fair Value Disclosures [Abstract]
Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis	The following tables present, by level within the fair value hierarchy, the company's financial assets and liabilities that are measured at fair value on a recurring basis as of February 3, 2023, January 28, 2022, and October 31, 2022, according to the valuation technique utilized to determine their fair values (dollars in thousands): Fair Value Measurements Using Inputs Considered as: February 3, 2023 Fair Value Level 1 Level 2 Level 3 Assets: Forward currency contracts $ 10,609 $ — $ 10,609 $ — Total assets $ 10,609 $ — $ 10,609 $ — Liabilities: Forward currency contracts $ 1,472 $ — $ 1,472 $ — Total liabilities $ 1,472 $ — $ 1,472 $ — Fair Value Measurements Using Inputs Considered as: January 28, 2022 Fair Value Level 1 Level 2 Level 3 Assets: Forward currency contracts $ 6,942 $ — $ 6,942 $ — Total assets $ 6,942 $ — $ 6,942 $ — Liabilities: Forward currency contracts $ 118 $ — $ 118 $ — Total liabilities $ 118 $ — $ 118 $ — Fair Value Measurements Using Inputs Considered as: October 31, 2022 Fair Value Level 1 Level 2 Level 3 Assets: Forward currency contracts $ 33,256 $ — $ 33,256 $ — Total assets $ 33,256 $ — $ 33,256 $ — Liabilities: Forward currency contracts $ — $ — $ — $ — Total liabilities $ — $ — $ — $ —

Business Combination - Narrativ

Business Combination - Narrative (Details) - USD ($) $ in Thousands		3 Months Ended		12 Months Ended
	Jan. 13, 2022	Feb. 03, 2023	Jan. 28, 2022	Oct. 31, 2022
Business Acquisition [Line Items]
Finite-lived intangible asset, useful life		13 years 4 months 24 days	13 years 6 months	13 years 4 months 24 days
Trade names
Business Acquisition [Line Items]
Finite-lived intangible asset, useful life		13 years 8 months 12 days	13 years 8 months 12 days	13 years 9 months 18 days
Intimidator
Business Acquisition [Line Items]
Total purchase price	$ 399,766
Other intangible assets	$ 184,200
Finite-lived intangible asset, useful life	9 years 6 months
Intimidator | Trade names
Business Acquisition [Line Items]
Finite-lived intangible asset, useful life	9 years 9 months 18 days
Intimidator | Customer-related
Business Acquisition [Line Items]
Finite-lived intangible asset, useful life	9 years 7 months 6 days
Intimidator | Backlog
Business Acquisition [Line Items]
Finite-lived intangible asset, useful life	9 months

Business Combination - Allocati

Business Combination - Allocation of Preliminary Purchase Price Assigned to the Intimidator Group (Details) - USD ($) $ in Thousands	Jan. 13, 2022	Feb. 03, 2023	Oct. 31, 2022	Jan. 28, 2022
Business Acquisition [Line Items]
Goodwill		$ 584,550	$ 583,297	$ 576,940
Intimidator
Business Acquisition [Line Items]
Cash and cash equivalents	$ 975
Receivables	6,954
Inventories	34,608
Prepaid expenses and other current assets	513
Property, plant, and equipment	27,447
Right-of-use assets	344
Goodwill	163,731
Other intangible assets:
Indefinite-lived trade name	99,100
Accounts payable	(8,535)
Accrued liabilities	(9,152)
Short-term lease liabilities	(100)
Long-term lease liabilities	(244)
Total fair value of net assets acquired	400,741
Less: cash and cash equivalents acquired	(975)
Total purchase price	399,766
Intimidator | Trade names
Other intangible assets:
Finite-lived intangibles	3,260
Intimidator | Customer-related
Other intangible assets:
Finite-lived intangibles	80,500
Intimidator | Backlog
Other intangible assets:
Finite-lived intangibles	$ 1,340

Segment Data - Narrative (Detai

Segment Data - Narrative (Details)	3 Months Ended
	Feb. 03, 2023 segment
Segment Reporting [Abstract]
Operating segments	12
Reportable segments	2

Segment Data - Summarized Finan

Segment Data - Summarized Financial Information of Reportable Segments (Details) - USD ($) $ in Thousands	3 Months Ended
	Feb. 03, 2023	Jan. 28, 2022	Oct. 31, 2022
Financial information concerning reportable segments
Net sales	$ 1,148,840	$ 932,650
Earnings (loss) before income taxes	131,314	87,147
Total assets	3,654,946	3,253,045	$ 3,555,998
Operating Segments | Professional
Financial information concerning reportable segments
Net sales	880,660	672,885
Earnings (loss) before income taxes	144,076	93,272
Total assets	2,782,797	2,486,201
Operating Segments | Residential
Financial information concerning reportable segments
Net sales	264,615	255,402
Earnings (loss) before income taxes	37,832	31,760
Total assets	541,214	444,549
Other Activities
Financial information concerning reportable segments
Net sales	3,565	4,363
Earnings (loss) before income taxes	(50,594)	(37,885)
Total assets	330,935	322,295
Intersegment gross sales (eliminations)
Financial information concerning reportable segments
Net sales	(10,894)	(5,432)
Intersegment gross sales (eliminations) | Professional
Financial information concerning reportable segments
Net sales	10,855	5,417
Intersegment gross sales (eliminations) | Residential
Financial information concerning reportable segments
Net sales	$ 39	$ 15

Segment Data - Components of Lo

Segment Data - Components of Loss before Income Taxes Included in Other (Details) - USD ($) $ in Thousands	3 Months Ended
	Feb. 03, 2023	Jan. 28, 2022
Components of the loss before income taxes included in "Other"
Interest expense	$ (14,124)	$ (7,013)
Earnings from the company's wholly-owned domestic distribution company and other income, net	9,011	2,534
Earnings before income taxes	131,314	87,147
Other Activities
Components of the loss before income taxes included in "Other"
Corporate expenses	(43,662)	(32,828)
Interest expense	(14,124)	(7,013)
Earnings from the company's wholly-owned domestic distribution company and other income, net	7,192	1,956
Earnings before income taxes	$ (50,594)	$ (37,885)

Revenue - Disaggregation by Maj

Revenue - Disaggregation by Major Product Type and Geographic Market (Details) - USD ($) $ in Thousands	3 Months Ended
	Feb. 03, 2023	Jan. 28, 2022
Disaggregation of Revenue [Line Items]
Revenues	$ 1,148,840	$ 932,650
United States
Disaggregation of Revenue [Line Items]
Revenues	903,503	737,664
International countries
Disaggregation of Revenue [Line Items]
Revenues	245,337	194,986
Equipment
Disaggregation of Revenue [Line Items]
Revenues	1,034,127	818,607
Irrigation
Disaggregation of Revenue [Line Items]
Revenues	114,713	114,043
Operating Segments | Professional
Disaggregation of Revenue [Line Items]
Revenues	880,660	672,885
Operating Segments | Professional | United States
Disaggregation of Revenue [Line Items]
Revenues	696,494	530,734
Operating Segments | Professional | International countries
Disaggregation of Revenue [Line Items]
Revenues	184,166	142,151
Operating Segments | Professional | Equipment
Disaggregation of Revenue [Line Items]
Revenues	778,251	570,871
Operating Segments | Professional | Irrigation
Disaggregation of Revenue [Line Items]
Revenues	102,409	102,014
Operating Segments | Residential
Disaggregation of Revenue [Line Items]
Revenues	264,615	255,402
Operating Segments | Residential | United States
Disaggregation of Revenue [Line Items]
Revenues	203,444	202,567
Operating Segments | Residential | International countries
Disaggregation of Revenue [Line Items]
Revenues	61,171	52,835
Operating Segments | Residential | Equipment
Disaggregation of Revenue [Line Items]
Revenues	253,432	244,589
Operating Segments | Residential | Irrigation
Disaggregation of Revenue [Line Items]
Revenues	11,183	10,813
Other Activities
Disaggregation of Revenue [Line Items]
Revenues	3,565	4,363
Other Activities | United States
Disaggregation of Revenue [Line Items]
Revenues	3,565	4,363
Other Activities | International countries
Disaggregation of Revenue [Line Items]
Revenues	0	0
Other Activities | Equipment
Disaggregation of Revenue [Line Items]
Revenues	2,444	3,147
Other Activities | Irrigation
Disaggregation of Revenue [Line Items]
Revenues	$ 1,121	$ 1,216

Revenue - Contract Liabilities

Revenue - Contract Liabilities (Details) - USD ($) $ in Millions	3 Months Ended
	Feb. 03, 2023	Oct. 31, 2022
Revenue from Contract with Customer [Abstract]
Contract with customer, liability	$ 27	$ 28
Contract with customer liability revenue recognized	$ 6.2

Revenue - Performance Obligatio

Revenue - Performance Obligation (Details) $ in Millions	Feb. 03, 2023 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-02-04
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 8.5
Revenue, remaining performance obligation, expected timing of satisfaction, period	3 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-11-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 8.1
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-11-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 5.2
Revenue, remaining performance obligation, expected timing of satisfaction, period

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets, Net - Changes in Net Carrying Amount of Goodwill (Details) $ in Thousands	3 Months Ended
	Feb. 03, 2023 USD ($)
Changes in the net carrying amount of goodwill
Goodwill, balance at beginning of period	$ 583,297
Translation adjustments	1,253
Goodwill, balance at end of period	584,550
Operating Segments | Professional
Changes in the net carrying amount of goodwill
Goodwill, balance at beginning of period	573,031
Translation adjustments	1,095
Goodwill, balance at end of period	574,126
Operating Segments | Residential
Changes in the net carrying amount of goodwill
Goodwill, balance at beginning of period	10,266
Translation adjustments	158
Goodwill, balance at end of period	10,424
Other Activities
Changes in the net carrying amount of goodwill
Goodwill, balance at beginning of period	0
Translation adjustments	0
Goodwill, balance at end of period	$ 0

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets, Net - Components of Other Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Feb. 03, 2023	Jan. 28, 2022	Oct. 31, 2022
Other Intangible Assets
Weighted-Average Useful Life in Years	13 years 4 months 24 days	13 years 6 months	13 years 4 months 24 days
Gross Carrying Amount	$ 465,075	$ 452,337	$ 464,332
Accumulated Amortization	(177,523)	(141,244)	(167,852)
Net	287,552	311,093	296,480
Indefinite-lived - trade names	289,512	289,704	289,352
Total other intangible assets, gross	754,587	742,041	753,684
Total other intangible assets, net	$ 577,064	$ 600,797	$ 585,832
Patents
Other Intangible Assets
Weighted-Average Useful Life in Years	9 years 10 months 24 days	9 years 10 months 24 days	9 years 10 months 24 days
Gross Carrying Amount	$ 18,253	$ 18,291	$ 18,210
Accumulated Amortization	(15,539)	(14,858)	(15,317)
Net	$ 2,714	$ 3,433	$ 2,893
Non-compete agreements
Other Intangible Assets
Weighted-Average Useful Life in Years	5 years 6 months	5 years 6 months	5 years 6 months
Gross Carrying Amount	$ 6,889	$ 6,921	$ 6,851
Accumulated Amortization	(6,872)	(6,885)	(6,829)
Net	$ 17	$ 36	$ 22
Customer-related
Other Intangible Assets
Weighted-Average Useful Life in Years	16 years	16 years	16 years
Gross Carrying Amount	$ 321,334	$ 322,296	$ 320,959
Accumulated Amortization	(89,935)	(66,325)	(83,805)
Net	$ 231,399	$ 255,971	$ 237,154
Developed technology
Other Intangible Assets
Weighted-Average Useful Life in Years	7 years 1 month 6 days	7 years	7 years 1 month 6 days
Gross Carrying Amount	$ 102,125	$ 87,427	$ 101,915
Accumulated Amortization	(55,823)	(45,748)	(53,001)
Net	$ 46,302	$ 41,679	$ 48,914
Trade names
Other Intangible Assets
Weighted-Average Useful Life in Years	13 years 8 months 12 days	13 years 8 months 12 days	13 years 9 months 18 days
Gross Carrying Amount	$ 10,744	$ 10,762	$ 10,667
Accumulated Amortization	(3,624)	(3,038)	(3,395)
Net	$ 7,120	$ 7,724	$ 7,272
Backlog and other
Other Intangible Assets
Weighted-Average Useful Life in Years	7 months 6 days	8 months 12 days	7 months 6 days
Gross Carrying Amount	$ 5,730	$ 6,640	$ 5,730
Accumulated Amortization	(5,730)	(4,390)	(5,505)
Net	$ 0	$ 2,250	$ 225

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets, Net - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Feb. 03, 2023	Jan. 28, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of other intangible assets	$ 9.1	$ 6.5

Goodwill and Other Intangible_6

Goodwill and Other Intangible Assets, Net - Future Amortization Expense (Details) - USD ($) $ in Thousands	Feb. 03, 2023	Oct. 31, 2022	Jan. 28, 2022
Estimated amortization expense
2023 (remaining)	$ 25,792
2024	33,022
2025	30,170
2026	28,989
2027	24,055
2028	21,533
Thereafter	123,991
Net	$ 287,552	$ 296,480	$ 311,093

Indebtedness - Summary of Debt

Indebtedness - Summary of Debt (Details) - USD ($)	Feb. 03, 2023	Oct. 31, 2022	Jan. 28, 2022
Debt Instrument [Line Items]
Less: unamortized debt issuance costs	$ 3,102,000	$ 3,334,000	$ 2,701,000
Total long-term debt	1,091,015,000	990,768,000	1,091,354,000
Less: current portion of long-term debt	0	0	100,000,000
Long-term debt, less current portion	1,091,015,000	990,768,000	991,354,000
Line of Credit | $600 million revolving credit facility, due October 2026
Debt Instrument [Line Items]
Long-term debt, gross	100,000,000	0	400,000,000
Debt instrument, face amount	600,000,000
Senior Notes | $270 million term loan, due October 2026
Debt Instrument [Line Items]
Long-term debt, gross	270,000,000	270,000,000	270,000,000
Debt instrument, face amount	270,000,000
Senior Notes | $200 million term loan, due April 2027
Debt Instrument [Line Items]
Long-term debt, gross	200,000,000	200,000,000	0
Debt instrument, face amount	200,000,000
Senior Notes | 3.81% series A senior notes, due June 2029
Debt Instrument [Line Items]
Long-term debt, gross	$ 100,000,000	100,000,000	100,000,000
Debt instrument, interest rate, stated percentage	3.81%
Senior Notes | 3.91% series B senior notes, due June 2031
Debt Instrument [Line Items]
Long-term debt, gross	$ 100,000,000	100,000,000	100,000,000
Debt instrument, interest rate, stated percentage	3.91%
Senior Notes | 3.97% senior notes, due June 2032
Debt Instrument [Line Items]
Long-term debt, gross	$ 100,000,000	100,000,000	0
Debt instrument, interest rate, stated percentage	3.97%
Senior Notes | 6.625% senior notes, due May 2037
Debt Instrument [Line Items]
Long-term debt, gross	$ 124,117,000	124,102,000	124,055,000
Debt instrument, interest rate, stated percentage	6.625%
Corporate Debt Securities | 7.8% debentures, due June 2027
Debt Instrument [Line Items]
Long-term debt, gross	$ 100,000,000	$ 100,000,000	$ 100,000,000
Debt instrument, interest rate, stated percentage	7.80%

Indebtedness - Schedule of Prin

Indebtedness - Schedule of Principal Payments (Details) $ in Thousands	Feb. 03, 2023 USD ($)
Debt Disclosure [Abstract]
2023 (remaining)	$ 0
2024	0
2025	37,000
2026	363,000
2027	270,000
2028	0
Thereafter	425,000
Total principal payments required	$ 1,095,000

Inventories, Net (Details)

Inventories, Net (Details) - USD ($) $ in Thousands	Feb. 03, 2023	Oct. 31, 2022	Jan. 28, 2022
Inventory Disclosure [Abstract]
Raw materials and work in process	$ 498,283	$ 482,884	$ 383,285
Finished goods and service parts	803,027	738,097	584,274
Total FIFO and average cost value	1,301,310	1,220,981	967,559
Less: adjustment to LIFO value	169,872	169,872	135,487
Total inventories, net	$ 1,131,438	$ 1,051,109	$ 832,072

Property, Plant, and Equipmen_3

Property, Plant, and Equipment, Net - Narrative (Details)	3 Months Ended
	Feb. 03, 2023
Buildings and leasehold improvements | Minimum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	10 years
Buildings and leasehold improvements | Maximum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	40 years
Equipment | Minimum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	3 years
Equipment | Maximum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	15 years
Tooling | Minimum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	3 years
Tooling | Maximum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	5 years
Software and Software Development Costs | Minimum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	2 years
Software and Software Development Costs | Maximum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	5 years

Property, Plant, and Equipmen_4

Property, Plant, and Equipment, Net - Summary of Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Feb. 03, 2023	Oct. 31, 2022	Jan. 28, 2022
Property, Plant and Equipment [Line Items]
Property, plant, and equipment, gross	$ 1,450,501	$ 1,416,477	$ 1,328,073
Less: accumulated depreciation	866,354	844,816	820,524
Property, plant, and equipment, net	584,147	571,661	507,549
Land and land improvements
Property, Plant and Equipment [Line Items]
Property, plant, and equipment, gross	61,416	59,550	57,924
Buildings and leasehold improvements
Property, Plant and Equipment [Line Items]
Property, plant, and equipment, gross	327,731	324,343	326,137
Machinery and equipment
Property, Plant and Equipment [Line Items]
Property, plant, and equipment, gross	559,793	557,588	529,289
Tooling
Property, Plant and Equipment [Line Items]
Property, plant, and equipment, gross	226,961	225,865	221,646
Computer hardware and software
Property, Plant and Equipment [Line Items]
Property, plant, and equipment, gross	105,497	104,713	97,629
Construction in process
Property, Plant and Equipment [Line Items]
Property, plant, and equipment, gross	$ 169,103	$ 144,418	$ 95,448

Product Warranty Guarantees (De

Product Warranty Guarantees (Details) - USD ($) $ in Thousands	3 Months Ended
	Feb. 03, 2023	Jan. 28, 2022
Warranty provisions, claims, and changes in estimates
Beginning balance	$ 134,541	$ 116,783
Changes in accrual related to warranties during the period	23,293	15,538
Acquisitions	0	1,940
Payments made during the period	(18,750)	(14,255)
Changes in accrual related to pre-existing warranties	5,973	(146)
Ending balance	$ 145,057	$ 119,860

Investment in Joint Venture (De

Investment in Joint Venture (Details) - Red Iron Acceptance, LLC - USD ($)	Feb. 03, 2023	Oct. 31, 2022	Jan. 28, 2022
Schedule of Equity Method Investments
Portion owned by Toro	45%
Portion owned by TCFIF	55%
Maximum borrowing capacity under credit facility	$ 800,000,000
Investment in joint venture	$ 45,700,000	$ 39,300,000	$ 24,100,000

Stock-Based Compensation - Comp

Stock-Based Compensation - Compensation Costs Related to Stock-Based Awards Granted (Details) - USD ($) $ in Thousands	3 Months Ended
	Feb. 03, 2023	Jan. 28, 2022
Stock-Based Compensation
Total compensation cost for stock-based compensation awards	$ 5,224	$ 5,225
Stock option awards
Stock-Based Compensation
Total compensation cost for stock-based compensation awards	$ 1,711	1,828
Stock option awards | Board of Directors | Tranche One
Stock-Based Compensation
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage	33.33%
Stock option awards | Board of Directors | Tranche Two
Stock-Based Compensation
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage	33.33%
Stock option awards | Board of Directors | Tranche Three
Stock-Based Compensation
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage	33.33%
Performance share awards
Stock-Based Compensation
Total compensation cost for stock-based compensation awards	$ 818	1,621
Restricted stock unit awards
Stock-Based Compensation
Total compensation cost for stock-based compensation awards	1,609	1,147
Unrestricted common stock awards
Stock-Based Compensation
Total compensation cost for stock-based compensation awards	$ 1,086	$ 629
Restricted stock and restricted stock unit awards | Tranche One
Stock-Based Compensation
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage	33.33%
Restricted stock and restricted stock unit awards | Tranche Two
Stock-Based Compensation
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage	33.33%
Restricted stock and restricted stock unit awards | Tranche Three
Stock-Based Compensation
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage	33.33%

Stock-Based Compensation - Stoc

Stock-Based Compensation - Stock Option Awards, Performance Share Awards, Restricted Stock Unit Awards and Unrestricted Common Stock Awards (Details) - $ / shares	3 Months Ended
	Feb. 03, 2023	Jan. 28, 2022
Stock option awards
Stock-Based Compensation
Vesting period	3 years
Term of options	10 years
Performance share awards
Stock-Based Compensation
Performance goal period	3 years
Weighted-average fair value of awards granted (in dollars per share)	$ 112.14	$ 98.41
Performance share awards | Maximum
Stock-Based Compensation
Vesting percentage	200%
Performance share awards | Minimum
Stock-Based Compensation
Vesting percentage	0%
Restricted stock and restricted stock unit awards
Stock-Based Compensation
Vesting period	3 years
Weighted-average fair value of awards granted (in dollars per share)	$ 109.78	$ 99.94
Unrestricted common stock awards | Board of Directors
Stock-Based Compensation
Share-based compensation arrangement by share-based payment award, equity instruments other than options, grants in period (in shares)	10,329,000	6,453,000
Tranche One | Stock option awards | Board of Directors
Stock-Based Compensation
Vesting percentage	33.33%
Tranche One | Restricted stock and restricted stock unit awards
Stock-Based Compensation
Vesting percentage	33.33%
Tranche Two | Stock option awards | Board of Directors
Stock-Based Compensation
Vesting percentage	33.33%
Tranche Two | Restricted stock and restricted stock unit awards
Stock-Based Compensation
Vesting percentage	33.33%
Tranche Three | Stock option awards | Board of Directors
Stock-Based Compensation
Vesting percentage	33.33%
Tranche Three | Restricted stock and restricted stock unit awards
Stock-Based Compensation
Vesting percentage	33.33%

Stock-Based Compensation - Assu

Stock-Based Compensation - Assumptions for Options Granted (Details) - $ / shares	3 Months Ended
	Feb. 03, 2023	Jan. 28, 2022
Stock-Based Compensation
Per share weighted-average fair value at date of grant (in dollars per share)	$ 33.23	$ 22.58
Stock option awards
Stock-Based Compensation
Expected life of option in years	6 years 3 months 25 days	6 years 2 months 8 days
Expected stock price volatility	25.19%	23.76%
Risk-free interest rate	3.79%	1.30%
Expected dividend yield	0.95%	0.93%

Stockholders' Equity - Componen

Stockholders' Equity - Components of Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	Feb. 03, 2023	Oct. 31, 2022	Jan. 28, 2022
Accumulated other comprehensive loss (AOCL)
Foreign currency translation adjustments	$ 30,139	$ 51,321	$ 25,525
Pension benefits	3,621	3,621	3,899
Cash flow derivative instruments	(5,155)	(21,817)	(3,810)
Total accumulated other comprehensive loss	$ 28,605	$ 33,125	$ 25,614

Stockholders' Equity - Compon_2

Stockholders' Equity - Components and Activity of Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	3 Months Ended
	Feb. 03, 2023	Jan. 28, 2022
Components and activity of accumulated other comprehensive loss
Balance at beginning of period	$ (1,351,701)	$ (1,151,132)
Other comprehensive (income) loss before reclassifications	404	(651)
Amounts reclassified from AOCL	(4,924)	269
Net current period other comprehensive (income) loss	(4,520)	(382)
Balance at end of period	(1,444,171)	(1,119,549)
Accumulated Other Comprehensive Loss
Components and activity of accumulated other comprehensive loss
Balance at beginning of period	33,125	25,996
Net current period other comprehensive (income) loss	(4,520)	(382)
Balance at end of period	28,605	25,614
Foreign  Currency Translation Adjustments
Components and activity of accumulated other comprehensive loss
Balance at beginning of period	51,321	19,535
Other comprehensive (income) loss before reclassifications	(21,182)	5,990
Amounts reclassified from AOCL	0	0
Net current period other comprehensive (income) loss	(21,182)	5,990
Balance at end of period	30,139	25,525
Pension Benefits
Components and activity of accumulated other comprehensive loss
Balance at beginning of period	3,621	3,899
Other comprehensive (income) loss before reclassifications	0	0
Amounts reclassified from AOCL	0	0
Net current period other comprehensive (income) loss	0	0
Balance at end of period	3,621	3,899
Cash Flow Derivative Instruments
Components and activity of accumulated other comprehensive loss
Balance at beginning of period	(21,817)	2,562
Other comprehensive (income) loss before reclassifications	21,586	(6,641)
Amounts reclassified from AOCL	(4,924)	269
Net current period other comprehensive (income) loss	16,662	(6,372)
Balance at end of period	$ (5,155)	$ (3,810)

Per Share Data (Details)

Per Share Data (Details) - shares	3 Months Ended
	Feb. 03, 2023	Jan. 28, 2022
Basic
Weighted-average number of shares of common stock (in shares)	104,484,000	105,015,000
Assumed issuance of contingent shares (in shares)	17,000	22,000
Weighted-average number of shares of common stock outstanding — Basic (in shares)	104,501,000	105,037,000
Diluted
Weighted-average number of shares of common stock outstanding — Basic (in shares)	104,501,000	105,037,000
Effect of dilutive shares (in shares)	1,076,000	1,011,000
Weighted-average number of shares of common stock outstanding — Diluted (in shares)	105,577,000	106,048,000
Options, restricted stock, and restricted stock units, excluded from the diluted earnings per share (in shares)	268,737,000	466,338

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($) $ in Millions	3 Months Ended
	Feb. 03, 2023	Jan. 28, 2022	Oct. 31, 2022
Red Iron And TCFCFC
Loss Contingencies [Line Items]
Repurchase commitment, maximum amount	$ 7.5
Wholesale Financing
Loss Contingencies [Line Items]
Receivables purchased by third party financing company from the company	111.3	$ 106.5
Receivables financed by third party financing company, excluding Red Iron, outstanding	166.1	220	$ 220
Maximum amount of contingent liability to repurchase inventory related receivables under limited inventory repurchase agreements	79.4	172.3	80
Red Iron Acceptance, LLC
Loss Contingencies [Line Items]
Net amount of new receivables financed for dealers and distributors	674.4	528.1
Net amount outstanding of receivables financed for dealers and distributors	942	494.6	776.1
Related party transaction, due from (to) related party	$ 17.3	$ 28.1	$ 17.7

Leases - Lease Expense Incurred

Leases - Lease Expense Incurred (Details) - USD ($) $ in Thousands	3 Months Ended
	Feb. 03, 2023	Jan. 28, 2022
Leases [Abstract]
Operating lease expense	$ 6,074	$ 6,165
Short-term lease expense	868	1,415
Variable lease expense	25	0
Total lease expense	$ 6,967	$ 7,580

Leases - Supplemental Cash Flow

Leases - Supplemental Cash Flow and Other Lease Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Feb. 03, 2023	Jan. 28, 2022
Leases [Abstract]
Operating cash flows for amounts included in the measurement of lease liabilities	$ 6,170	$ 4,567
Right-of-use assets obtained in exchange for lease obligations	$ 1,892	$ 14,881

Leases - Summary of Other Lease

Leases - Summary of Other Lease Information (Details)	Feb. 03, 2023	Oct. 31, 2022	Jan. 28, 2022
Leases [Abstract]
Weighted-average remaining lease term of operating leases in years	5 years 9 months 18 days	6 years	6 years 7 months 6 days
Weighted-average discount rate of operating leases	3.61%	3.53%	2.56%

Leases - Schedule of Future Min

Leases - Schedule of Future Minimum Operating Lease Payments (Details) $ in Thousands	Feb. 03, 2023 USD ($)
ASC Topic 842 Leases
2023 (remaining)	$ 13,508
2024	18,455
2025	16,263
2026	10,801
2027	7,524
Thereafter	17,678
Total future minimum operating lease payments	84,229
Less: imputed interest	7,587
Present value of operating lease liabilities	$ 76,642

Derivative Instruments and He_3

Derivative Instruments and Hedging Activities - Narrative (Details) $ in Millions	3 Months Ended
	Feb. 03, 2023 USD ($)
Derivative Instruments, Gain (Loss) [Line Items]
Maximum length of time hedged in cash flow hedge	2 years
Cash flow hedge effectiveness measurement period	2 months
Gains to be reclassified from AOCL to earnings	$ 4.8
Forward currency contracts
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, notional amount	$ 288.6

Derivative Instruments and He_4

Derivative Instruments and Hedging Activities - Fair Value and Location of Derivative Instruments (Details) - USD ($) $ in Thousands	Feb. 03, 2023	Oct. 31, 2022	Jan. 28, 2022
Fair value of derivatives
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Prepaid expenses and other current assets	Prepaid expenses and other current assets	Prepaid expenses and other current assets
Derivative assets	$ 10,609	$ 33,256	$ 6,942
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Accrued liabilities	Accrued liabilities	Accrued liabilities
Derivative liabilities	$ 1,472	$ 0	$ 118
Forward currency contracts
Fair value of derivatives
Derivative assets	10,609	33,256	6,942
Derivative liabilities	1,472	0	118
Forward currency contracts | Derivatives designated as cash flow hedging instruments:
Fair value of derivatives
Derivative assets	7,757	27,733	5,451
Derivative liabilities	1,345	0	0
Forward currency contracts | Derivatives not designated as cash flow hedging instruments:
Fair value of derivatives
Derivative assets	2,852	5,523	1,491
Derivative liabilities	$ 127	$ 0	$ 118

Derivative Instruments and He_5

Derivative Instruments and Hedging Activities - Effects of Master Netting Arrangements (Details) - USD ($) $ in Thousands	Feb. 03, 2023	Oct. 31, 2022	Jan. 28, 2022
Derivative assets:
Net amount of derivative assets	$ 10,609	$ 33,256	$ 6,942
Derivative liabilities:
Net amount of derivative liabilities	1,472	0	118
Forward currency contracts
Derivative assets:
Gross amount of derivative assets	11,119	33,256	8,118
Derivative liabilities offsetting derivative assets	510	0	1,176
Net amount of derivative assets	10,609	33,256	6,942
Derivative liabilities:
Gross amount of derivative liabilities	1,472	0	159
Derivative assets offsetting derivative liabilities	0	0	41
Net amount of derivative liabilities	$ 1,472	$ 0	$ 118

Derivative Instruments and He_6

Derivative Instruments and Hedging Activities - Impact and Location of Amounts Reclassified from AOCL and Impacts and Location on OCI (Details) - Cash flow hedging - USD ($) $ in Thousands	3 Months Ended
	Feb. 03, 2023	Jan. 28, 2022
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Reclassified from AOCL into Earnings	$ 4,924	$ (269)
Gain (Loss) Recognized in OCI on Derivatives	(16,662)	6,372
Forward currency contracts | Net Sales
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Reclassified from AOCL into Earnings	4,061	(118)
Gain (Loss) Recognized in OCI on Derivatives	(17,263)	5,670
Forward currency contracts | Cost of Sales
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Reclassified from AOCL into Earnings	863	(151)
Gain (Loss) Recognized in OCI on Derivatives	$ 601	$ 702

Derivative Instruments and He_7

Derivative Instruments and Hedging Activities - Impact and Location of Derivative Instruments for Derivatives Designated as Cash Flow Hedging and the Related Components Excluded From Effectiveness Testing (Details) - USD ($) $ in Thousands	3 Months Ended
	Feb. 03, 2023	Jan. 28, 2022
Derivative Instruments, Gain (Loss) [Line Items]
Net sales	$ 1,148,840	$ 932,650
Cost of Sales	(752,916)	(632,174)
Cash flow hedging
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain (loss) reclassified from AOCL into earnings	4,924	(269)
Net Sales | Cash flow hedging
Derivative Instruments, Gain (Loss) [Line Items]
Net sales	1,148,840	932,650
Cost of Sales | Cash flow hedging
Derivative Instruments, Gain (Loss) [Line Items]
Cost of Sales	(752,916)	(632,174)
Forward currency contracts | Net Sales | Cash flow hedging
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain (loss) reclassified from AOCL into earnings	4,061	(118)
Gain (loss) on components excluded from effectiveness testing recognized in earnings based on changes in fair value	1,240	(926)
Forward currency contracts | Cost of Sales | Cash flow hedging
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain (loss) reclassified from AOCL into earnings	863	(151)
Gain (loss) on components excluded from effectiveness testing recognized in earnings based on changes in fair value	$ 567	$ 97

Derivative Instruments and He_8

Derivative Instruments and Hedging Activities - Impact and Location of Derivatives Not Designated As Cash Flow Hedging Instruments (Details) - USD ($) $ in Thousands	3 Months Ended
	Feb. 03, 2023	Jan. 28, 2022
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Earnings from the company's wholly-owned domestic distribution company and other income, net	Earnings from the company's wholly-owned domestic distribution company and other income, net
Derivatives not designated as cash flow hedging instruments:
Derivative Instruments, Gain (Loss) [Line Items]
Total (loss) gain on derivatives not designated as cash flow hedging instruments	$ (3,398)	$ 1,242
Forward currency contracts | Derivatives not designated as cash flow hedging instruments:
Derivative Instruments, Gain (Loss) [Line Items]
Total (loss) gain on derivatives not designated as cash flow hedging instruments	$ (3,398)	$ 1,242

Fair Value Measurements - Fair

Fair Value Measurements - Fair Value Hierarchy (Details) - USD ($) $ in Thousands	Feb. 03, 2023	Oct. 31, 2022	Jan. 28, 2022
Assets:
Forward currency contracts	$ 10,609	$ 33,256	$ 6,942
Liabilities:
Forward currency contracts	1,472	0	118
Forward currency contracts
Assets:
Forward currency contracts	10,609	33,256	6,942
Liabilities:
Forward currency contracts	1,472	0	118
Measured on a recurring basis
Assets:
Total assets	10,609	33,256	6,942
Liabilities:
Total liabilities	1,472	0	118
Measured on a recurring basis | Forward currency contracts
Assets:
Forward currency contracts	10,609	33,256	6,942
Liabilities:
Forward currency contracts	1,472	0	118
Measured on a recurring basis | Level 1
Assets:
Total assets	0	0	0
Liabilities:
Total liabilities	0	0	0
Measured on a recurring basis | Level 1 | Forward currency contracts
Assets:
Forward currency contracts	0	0	0
Liabilities:
Forward currency contracts	0	0	0
Measured on a recurring basis | Level 2
Assets:
Total assets	10,609	33,256	6,942
Liabilities:
Total liabilities	1,472	0	118
Measured on a recurring basis | Level 2 | Forward currency contracts
Assets:
Forward currency contracts	10,609	33,256	6,942
Liabilities:
Forward currency contracts	1,472	0	118
Measured on a recurring basis | Level 3
Assets:
Total assets	0	0	0
Liabilities:
Total liabilities	0	0	0
Measured on a recurring basis | Level 3 | Forward currency contracts
Assets:
Forward currency contracts	0	0	0
Liabilities:
Forward currency contracts	$ 0	$ 0	$ 0

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) - USD ($) $ in Millions	Feb. 03, 2023	Oct. 31, 2022	Jan. 28, 2022
Assets and liabilities measured at fair value disclosures
Long-term debt, percentage bearing fixed interest, amount	$ 524.1	$ 524.1	$ 424.1
Level 2
Assets and liabilities measured at fair value disclosures
Long-term debt, fair value	$ 520.5	$ 489.8	$ 499.1