XML 56 R35.htm IDEA: XBRL DOCUMENT
v3.22.2.2

Employee Benefits (Tables) | 12 Months Ended
--- | ---
Oct. 31, 2022
Retirement Benefits [Abstract] |
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, 2022, 2021 and 2020 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, 2022. The net amounts recognized in the Consolidated Balance Sheets consist of noncurrent liabilities. The accumulated benefit obligation was $134.9 million, $207.6 million and $195.8 million for the years ended October 31, 2022, 2021 and 2020. Retirement Income Plan
Years Ended October 31, (In millions) | 2022 |  | 2021 |  | 2020
Change in benefit obligation |  |  |  |  |
Benefit obligation, beginning of year | $ | 230.9 |  |  | $ | 218.8 |  |  | $ | 189.7 |
Service cost | 18.3 |  |  | 17.2 |  |  | 13.9 |
Interest cost | 5.1 |  |  | 4.4 |  |  | 5.2 |
Benefits paid | (13.1) |  |  | (11.5) |  |  | (10.0) |
Actuarial (gain)/loss | (93.2) |  |  | 2.0 |  |  | 20.0 |
Benefit obligation, end of year | $ | 148.0 |  |  | $ | 230.9 |  |  | $ | 218.8 |
Change in plan assets |  |  |  |  |
Fair value of plan assets, beginning of year | $ | 199.5 |  |  | $ | 159.5 |  |  | $ | 136.0 |
Actual return on plan assets | (43.5) |  |  | 38.8 |  |  | 10.1 |
Employer contributions | — |  |  | 12.7 |  |  | 23.4 |
Benefits paid | (13.1) |  |  | (11.5) |  |  | (10.0) |
Fair value of plan assets, end of year | $ | 142.9 |  |  | $ | 199.5 |  |  | $ | 159.5 |
Funded status at end of year | $ | (5.1) |  |  | $ | (31.4) |  |  | $ | (59.3) |
Amounts recognized in accumulated other comprehensive Income |
Years Ended October 31, (In millions) | 2022 |  | 2021 |  | 2020
Amounts recognized in accumulated other comprehensive income consist of: |  |  |  |  |
Net loss | $ | 8.0 |  |  | $ | 44.4 |  |  | $ | 74.2 |
Accumulated other comprehensive income | $ | 8.0 |  |  | $ | 44.4 |  |  | $ | 74.2 |
Reconciliation of prepaid (accrued) pension cost |
Years Ended October 31, (In millions) | 2022 |  | 2021 |  | 2020
Reconciliation of (prepaid) accrued pension cost: |  |  |  |  |
(Prepaid)/Accrued pension cost at prior fiscal year end | $ | (13.0) |  |  | $ | (14.8) |  |  | $ | (3.7) |
Net periodic benefit cost | 10.1 |  |  | 14.5 |  |  | 12.3 |
Contributions made during the year | — |  |  | (12.7) |  |  | (23.4) |
(Prepaid)/Accrued pension cost at fiscal year end | $ | (2.9) |  |  | $ | (13.0) |  |  | $ | (14.8) |
Components of net periodic pension costs and other amounts recognized in other comprehensive income |
Years Ended October 31, (In millions) | 2022 |  | 2021 |  | 2020
Components of net periodic benefit cost and other amounts recognized in the Consolidated Statements of Income: |  |  |  |  |
Net periodic benefit cost: |  |  |  |  |
Service cost | $ | 18.3 |  |  | $ | 17.2 |  |  | $ | 13.9 |
Interest cost | 5.1 |  |  | 4.4 |  |  | 5.2 |
Expected return on plan assets | (15.5) |  |  | (12.5) |  |  | (10.8) |
Recognized actuarial loss | 2.2 |  |  | 5.4 |  |  | 4.0 |
Net periodic pension cost | $ | 10.1 |  |  | $ | 14.5 |  |  | $ | 12.3 |
Other changes in plan assets and benefit obligations recognized in other comprehensive income |
Years Ended October 31, (In millions) | 2022 |  | 2021 |  | 2020
Other changes in plan assets and benefit obligations recognized in other comprehensive income: |  |  |  |  |
Net (gain) loss | $ | (34.1) |  |  | $ | (24.4) |  |  | $ | 20.8 |
Amortizations of net gain | (2.5) |  |  | (5.4) |  |  | (4.0) |
Total recognized in other comprehensive (income) loss | $ | (36.6) |  |  | $ | (29.8) |  |  | $ | 16.8 |
Total recognized in net periodic benefit cost and other comprehensive (income) loss | $ | (26.2) |  |  | $ | (15.2) |  |  | $ | 29.0 |
Weighted-average assumptions used in computing net periodic pension cost and projected benefit obligation |
Years Ended October 31, | 2022 |  | 2021 |  | 2020
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 | 2.76 | % |  | 2.78 | % |  | 3.13 | %
Service Cost | 2.79 | % |  | 2.86 | % |  | 3.18 | %
Interest Cost | 2.28 | % |  | 2.07 | % |  | 2.78 | %
Discount rate for determining benefit obligations at year end | 5.74 | % |  | 2.76 | % |  | 2.78 | %
Rate of compensation increase for determining expense | 3.60 | % |  | 3.60 | % |  | 3.60 | %
Rate of compensation increase for determining benefit obligations at year end | 3.60 | % |  | 3.60 | % |  | 3.60 | %
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 | 10/31/2022 |  | 10/31/2021 |  | 10/31/2020
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, | 2022 |  | 2021 |  | 2020
Asset category |  |  |  |  |
Cash and cash equivalents | 2.0 | % |  | 5.0 | % |  | 11.8 | %
Equity mutual funds | 65.8 | % |  | 62.8 | % |  | 57.7 | %
Hedging Strategy Funds | 5.2 | % |  | 4.7 | % |  | 4.3 | %
Bond mutual funds | 27.0 | % |  | 27.5 | % |  | 26.2 | %
Total | 100.0 | % |  | 100.0 | % |  | 100.0 | %
As of the measurement date of October 31, 2022, 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 | $ | 2.9 |  |  | $ | 2.9 |  |  | $ | — |  |  | $ | — |
Equity mutual funds | 93.9 |  |  | 93.9 |  |  | — |  |  | — |
Hedging Strategy Funds | 7.5 |  |  | 7.5 |  |  | — |  |  | — |
Bond mutual funds | 38.6 |  |  | 14.5 |  |  | 24.1 |  |  | — |
Total | $ | 142.9 |  |  | $ | 118.8 |  |  | $ | 24.1 |  |  | $ | — |
Estimated future benefit payments | Estimated Future Benefit Payments
Years (In millions) |
2023 | $ | 9.4 |
2024 | $ | 11.0 |
2025 | $ | 11.9 |
2026 | $ | 11.4 |
2027 | $ | 11.9 |
2028-2032 | $ | 66.1 |

X
- Definition Schedule Of Reconciliation Of Prepaid (Accrued) Pension Cost [Table Text Block] + References No definition available. + Details
Name: | coo_ScheduleOfReconciliationOfPrepaidAccruedPensionCostTableTextBlock
Namespace Prefix: | coo_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the change in the benefit obligation, fair value of plan assets, and funded status of pension plans or other employee benefit plans. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (a)(b)(c) -URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 + Details
Name: | us-gaap_ChangesInProjectedBenefitObligationsFairValueOfPlanAssetsAndFundedStatusOfPlanTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_CompensationAndRetirementDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the major categories of plan assets of pension plans and/or other employee benefit plans. This information may include, but is not limited to, the target allocation of plan assets, the fair value of each major category of plan assets, and the level within the fair value hierarchy in which the fair value measurements fall. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (d)(5) -URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfAllocationOfPlanAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the net gain (loss) and net prior service cost or credit recognized in other comprehensive income (loss) for the period for pension plans and/or other employee benefit plans, and reclassification adjustments of other comprehensive income (loss) for the period, as those amounts, including amortization of the net transition asset or obligation, are recognized as components of net periodic benefit cost. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (i) -URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfAmountsRecognizedInOtherComprehensiveIncomeLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assumption used to determine benefit obligation and net periodic benefit cost of defined benefit plan. Includes, but is not limited to, discount rate, rate of compensation increase, expected long-term rate of return on plan assets and interest crediting rate. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (k) -URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfAssumptionsUsedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of benefits expected to be paid by pension plans and/or other employee benefit plans in each of the next five fiscal years and in the aggregate for the five fiscal years thereafter. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (f) -URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfExpectedBenefitPaymentsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of net benefit costs for pension plans and/or other employee benefit plans including service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) recognized due to settlements or curtailments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (h) -URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfNetBenefitCostsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the amounts related to pension plans and/or other employee benefit plans in accumulated other comprehensive income or loss that have not yet been recognized as components of net periodic benefit cost, such as the net gain (loss), net prior service cost or credit, and net transition asset or obligation. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (j) -URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfNetPeriodicBenefitCostNotYetRecognizedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration