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Income Taxes (Tables)
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12 Months Ended |
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Oct. 31, 2012
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| Income Taxes Disclosure Table [Abstract] |
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| Components of income tax benefit (expense) |
| | | | | | | | | | | (in thousands) | | 2012 | | 2011 | | 2010 | | | Current: | | | | | | | | | Federal | $ | 134,027 | $ | 88,051 | $ | 124,526 | | | State | | 19,836 | | 13,925 | | 18,241 | | | Deferred: | | | | | | | | | Federal | | (9,861) | | 48,091 | | (13,981) | | | State | | (1,617) | | 6,777 | | (2,523) | | | Total | $ | 142,385 | $ | 156,844 | $ | 126,263 |
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| Components of deferred tax assets and liabilities |
| | (in thousands) | | 2012 | | 2011 | | | | | | | | | | | Deferred tax assets: | | | | | | | | Stock-based compensation | $ | 73,467 | $ | 67,190 | | | | Deferred rent | | 4,807 | | 4,874 | | | | Compensation and benefit expense | | 3,800 | | 3,077 | | | | Federal benefit of unrecognized state tax benefits | | 3,545 | | 3,554 | | | | Unrealized losses on derivative instruments | | 772 | | 929 | | | | Differences between book and tax bases of investments | | - | | 5,763 | | | | Other | | 192 | | 403 | | | Total deferred tax asset | $ | 86,583 | $ | 85,790 | | | | | | | | | | | Deferred tax liabilities: | | | | | | | | Deferred sales commissions | $ | (7,376) | $ | (10,624) | | | | Compensation and benefit expense | | (5,560) | | (10,909) | | | | Differences between book and tax bases of goodwill | | | | | | | | and intangibles | | (15,818) | | (16,075) | | | | Unrealized net holding gains on investments | | (3,303) | | (1,873) | | | | Differences between book and tax bases of property | | (3,268) | | (4,966) | | | | Differences between book and tax bases of investments | | (24) | | - | | | Total deferred tax liability | $ | (35,349) | $ | (44,447) | | | Net deferred tax asset | $ | 51,234 | $ | 41,343 |
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| Reconciliation of the difference between the federal statutory income tax rate and the effective income tax rate |
| | | 2012 | 2011 | 2010 | | | | | | | | | | | | Federal statutory rate | 35.0 | % | 35.0 | % | 35.0 | % | | | State and local income tax, net of | | | | | | | | | federal income tax benefit | 3.0 | | 3.6 | | 3.4 | | | | Non-controlling interest | (3.6) | | 1.6 | | (0.9) | | | | Stock-based compensation | 0.5 | | 0.6 | | 0.9 | | | | Release of liabilities associated with | | | | | | | | | uncertain tax positions | - | | - | | (0.1) | | | | Other | 0.4 | | 0.3 | | 0.3 | | | | Effective income tax rate | 35.3 | % | 41.1 | % | 38.6 | % |
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| Reconciliation of gross unrecognized tax benefits |
| | (in thousands) | | 2012 | | 2011 | | 2010 | | | Beginning Balance | $ | 9,474 | $ | 9,474 | $ | 9,975 | | | | Additions for tax provisions of prior years | | 31 | | - | | 245 | | | | Reductions for tax provisions of prior years | | - | | - | | (771) | | | | Additions based on tax provisions related to current year | | 33 | | - | | 30 | | | | Reductions for settlements with taxing authorities | | - | | - | | (5) | | | Ending Balance | $ | 9,538 | $ | 9,474 | $ | 9,474 |
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