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Employee Benefits (Tables) | 12 Months Ended
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Oct. 31, 2019
Retirement Benefits [Abstract] |
Schedule of changes in benefit obligation, changes in plan assets and funded status | The following table sets forth the Plan's benefit obligations and fair value of the Plan assets at October 31, 2019, 2018 and 2017 and the funded status of the Plan and net periodic pension costs for each of the years in the three-year periods ended October 31, 2019. Retirement Income Plan
Years Ended October 31, (In millions) | 2019 |  | 2018 |  | 2017
Change in benefit obligation |  |  |  |  |
Benefit obligation, beginning of year | $ | 147.1 |  |  | $ | 151.7 |  |  | $ | 138.9 |
Service cost | 10.1 |  |  | 10.7 |  |  | 10.2 |
Interest cost | 6.1 |  |  | 5.0 |  |  | 4.4 |
Benefits paid | (10.2 | ) |  | (3.7 | ) |  | (2.6 | )
Actuarial loss (gain) | 36.6 |  |  | (16.6 | ) |  | 0.8 |
Benefit obligation, end of year | $ | 189.7 |  |  | $ | 147.1 |  |  | $ | 151.7 |
Change in plan assets |  |  |  |  |
Fair value of plan assets, beginning of year | $ | 121.0 |  |  | $ | 112.8 |  |  | $ | 89.2 |
Actual return on plan assets | 12.1 |  |  | 1.9 |  |  | 16.2 |
Employer contributions | 13.1 |  |  | 10.0 |  |  | 10.0 |
Benefits paid | (10.2 | ) |  | (3.7 | ) |  | (2.6 | )
Fair value of plan assets, end of year | $ | 136.0 |  |  | $ | 121.0 |  |  | $ | 112.8 |
Funded status at end of year | $ | (53.7 | ) |  | $ | (26.1 | ) |  | $ | (38.9 | )
Schedule of amounts recognized in statement of financial position |
Years Ended October 31, (In millions) | 2019 |  | 2018 |  | 2017
Amounts recognized in the statement of financial position consist of: |  |  |  |  |
Noncurrent liabilities | (53.7 | ) |  | (26.1 | ) |  | (38.9 | )
Net amount recognized at year end | $ | (53.7 | ) |  | $ | (26.1 | ) |  | $ | (38.9 | )
Schedule of amounts recognized in accumulated other comprehensive Income |
Years Ended October 31, (In millions) | 2019 |  | 2018 |  | 2017
Amounts recognized in accumulated other comprehensive income consist of: |  |  |  |  |
Net loss | 57.3 |  |  | 24.0 |  |  | 34.9 |
Accumulated other comprehensive income | $ | 57.3 |  |  | $ | 24.0 |  |  | $ | 34.9 |
Schedule of pension plans with projected benefit obligation in excess of plan assets |
Years Ended October 31, (In millions) | 2019 |  | 2018 |  | 2017
Information for pension plans with projected benefit obligation in excess of plan assets |  |  |  |  |
Projected benefit obligation | $ | 189.7 |  |  | $ | 147.1 |  |  | $ | 151.7 |
Fair value of plan assets | $ | 136.0 |  |  | $ | 121.0 |  |  | $ | 112.8 |
Schedule of pension plans with accumulated benefit obligations in excess of fair value of plan assets |
Years Ended October 31, (In millions) | 2019 |  | 2018 |  | 2017
Information for pension plans with accumulated benefit obligations in excess of plan assets |  |  |  |  |
Accumulated benefit obligation | $ | 170.8 |  |  | $ | 130.5 |  |  | $ | 133.3 |
Fair value of plan assets | $ | 136.0 |  |  | $ | 121.0 |  |  | $ | 112.8 |
Schedule of reconciliation of prepaid (accrued) pension cost |
Years Ended October 31, (In millions) | 2019 |  | 2018 |  | 2017
Reconciliation of prepaid (accrued) pension cost |  |  |  |  |
Accrued pension cost at prior fiscal year end | $ | 2.2 |  |  | $ | 4.0 |  |  | $ | 4.0 |
Net periodic benefit cost | 7.2 |  |  | 8.2 |  |  | 10.0 |
Contributions made during the year | (13.1 | ) |  | (10.0 | ) |  | (10.0 | )
Accrued pension cost at fiscal year end | $ | (3.7 | ) |  | $ | 2.2 |  |  | $ | 4.0 |
Schedule of components of net periodic pension costs and other amounts recognized in other comprehensive income |
Years Ended October 31, (In millions) | 2019 |  | 2018 |  | 2017
Components of net periodic benefit cost and other amounts recognized in (other comprehensive income) the fiscal year |  |  |  |  |
Net periodic benefit cost: |  |  |  |  |
Service cost | $ | 10.1 |  |  | $ | 10.7 |  |  | $ | 10.2 |
Interest cost | 6.1 |  |  | 5.0 |  |  | 4.4 |
Expected return on plan assets | (9.8 | ) |  | (9.2 | ) |  | (7.3 | )
Recognized actuarial loss | 0.8 |  |  | 1.7 |  |  | 2.7 |
Net periodic pension cost | $ | 7.2 |  |  | $ | 8.2 |  |  | $ | 10.0 |
Schedule of other changes in plan assets and benefit obligations recognized in other comprehensive income |
Years Ended October 31, (In millions) | 2019 |  | 2018 |  | 2017
Other changes in plan assets and benefit obligations recognized in other comprehensive income |  |  |  |  |  |  |  |
Net loss (gain) | 34.2 |  |  | (9.3 | ) |  | (8.1 | )
Amortizations of net (gain) | (0.8 | ) |  | (1.7 | ) |  | (2.7 | )
Total recognized in other comprehensive income | $ | 33.4 |  |  | $ | (11.0 | ) |  | $ | (10.8 | )
Total recognized in net periodic benefit cost and other comprehensive income | $ | 40.6 |  |  | $ | (2.8 | ) |  | $ | (0.8 | )
Schedule of weighted-average assumptions used in computing net periodic pension cost and projected benefit obligation |
Years Ended October 31, | 2019 |  | 2018 |  | 2017
Weighted-average assumptions used in computing the net periodic pension cost and projected benefit obligation at year end: |  |  |  |  |
Discount rate for determining net periodic pension cost: |  |  |  |  |
Projected Benefit Obligation | 4.42 | % |  | 3.75 | % |  | 3.74 | %
Service Cost | 4.49 | % |  | 3.85 | % |  | 3.90 | %
Interest Cost | 4.22 | % |  | 3.39 | % |  | 3.23 | %
Discount rate for determining benefit obligations at year end | 3.13 | % |  | 4.42 | % |  | 3.75 | %
Rate of compensation increase for determining expense | 4.00 | % |  | 4.00 | % |  | 4.00 | %
Rate of compensation increase for determining benefit obligations at year end | 3.60 | % |  | 4.00 | % |  | 4.00 | %
Expected rate of return on plan assets for determining net periodic pension cost | 8.00 | % |  | 8.00 | % |  | 8.00 | %
Expected rate of return on plan assets at year end | 8.00 | % |  | 8.00 | % |  | 8.00 | %
Measurement date for determining assets and benefit obligations at year end | 10/31/2019 |  |  | 10/31/2018 |  |  | 10/31/2017 |
Schedule of weighted-average asset allocations and fair value measurement of plan assets | Plan Assets Weighted-average asset allocations at year end, by asset category are as follows:
Years Ended October 31, | 2019 |  | 2018 |  | 2017
Asset category |  |  |  |  |
Cash and cash equivalents | 3.2 | % |  | 2.1 | % |  | 0.9 | %
Corporate common stock | — | % |  | 14.5 | % |  | 12.2 | %
Equity mutual funds | 63.7 | % |  | 47.4 | % |  | 49.9 | %
Hedging Strategy Funds | 4.9 | % |  | — | % |  | — | %
Real estate funds | — | % |  | 2.7 | % |  | 2.9 | %
Bond mutual funds | 28.2 | % |  | 33.3 | % |  | 34.1 | %
Total | 100.0 | % |  | 100.0 | % |  | 100.0 | %
As of the measurement date of October 31, 2019, the fair value measurement of plan assets is as follows:
(In millions) | Total |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3)
Asset category |  |  |  |  |  |  |
Cash and cash equivalents | $ | 4.4 |  |  | $ | 4.4 |  |  | $ | — |  |  | $ | — |
Equity mutual funds | 86.5 |  |  | 86.5 |  |  | — |  |  | — |
Hedging Strategy Funds | 6.7 |  |  | 6.7 |  |  | — |  |  | — |
Bond mutual funds | 38.4 |  |  | 15.3 |  |  | 23.1 |  |  | — |
Total | $ | 136.0 |  |  | $ | 112.9 |  |  | $ | 23.1 |  |  | $ | — |
Schedule of estimated future benefit payments | Estimated Future Benefit Payments
Years (In millions) |
2020 | $ | 8.7 |
2021 | $ | 9.5 |
2022 | $ | 10.5 |
2023 | $ | 11.0 |
2024 | $ | 11.9 |
2025-2029 | $ | 66.7 |

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