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EMPLOYEE RETIREMENT PLANS | 12 Months Ended
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Oct. 31, 2015
EMPLOYEE RETIREMENT PLANS |
EMPLOYEE RETIREMENT PLANS |
11 |  | EMPLOYEE RETIREMENT PLANS
The company maintains The Toro Company Investment, Savings, and Employee Stock Ownership Plan for eligible employees. The company's expenses under this plan were $17,400, $15,550, and $14,931 for the fiscal years ended October 31, 2015, 2014, and 2013, respectively. In addition, the company and its subsidiaries have defined benefit, supplemental, and other retirement plans covering certain employees in the U.S. and the United Kingdom. The projected benefit obligation of these plans as of October 31, 2015 and 2014 was $46,427 and $45,420, respectively, and the net liability amount recognized in the consolidated balance sheets as of October 31, 2015 and 2014 was $4,829 and $3,432, respectively. The accumulated benefit obligation of these plans as of October 31, 2015 and 2014 was $43,145 and $42,431, respectively. The funded status of these plans as of October 31, 2015 and 2014 was $11,303 and $10,085, respectively. The fair value of the plan assets as of October 31, 2015 and 2014 was $35,124 and $35,335, respectively. The net expense recognized in the consolidated financial statements for these plans was $2,406, $1,092, and $1,149 for the fiscal years ended October 31, 2015, 2014, and 2013, respectively. Amounts recognized in accumulated other comprehensive loss consisted of:
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Fiscal years ended October 31 |  |  | Defined Benefit Pension Plans |  |  | Postretirement Benefit Plan |  |  | Total |
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2015 |  |  |  |  |  |  |  |  |  |
Net actuarial loss (gain) |  | $ | 5,100 |  | $ | (66 | ) | $ | 5,034 |
Net prior service cost |  |  | 352 |  |  | – |  |  | 352 |
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Accumulated other comprehensive loss (income) |  | $ | 5,452 |  | $ | (66 | ) | $ | 5,386 |
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2014 |  |  |  |  |  |  |  |  |  |
Net actuarial loss |  | $ | 4,521 |  | $ | 513 |  | $ | 5,034 |
Net prior service cost (credit) |  |  | 257 |  |  | (25 | ) |  | 232 |
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Accumulated other comprehensive loss |  | $ | 4,778 |  | $ | 488 |  | $ | 5,266 |
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The following amounts are included in accumulated other comprehensive loss as of October 31, 2015 and are expected to be recognized as components of net periodic benefit cost during fiscal 2016.
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|  |  | Defined Benefit Pension Plans |  |  | Postretirement Benefit Plan |  |  | Total |
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Net actuarial loss |  | $ | 661 |  |  | – |  | $ | 661 |
Net prior service cost |  |  | 67 |  |  | – |  |  | 67 |
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Total |  | $ | 728 |  |  | – |  | $ | 728 |
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Amounts recognized in net periodic benefit cost and other comprehensive loss consisted of:
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Fiscal years ended October 31 |  |  | Defined Benefit Pension Plans |  |  | Postretirement Benefit Plan |  |  | Total |
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2015 |  |  |  |  |  |  |  |  |  |
Net actuarial loss (gain) |  | $ | 37 |  | $ | (577 | ) | $ | (540 | )
Prior service cost |  |  | 126 |  |  | – |  |  | 126 |
Amortization of unrecognized prior service (credit) cost |  |  | (32 | ) |  | 25 |  |  | (7 | )
Amortization of unrecognized actuarial loss (gain) |  |  | 542 |  |  | (1 | ) |  | 541 |
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Total recognized in other comprehensive loss (income) |  | $ | 673 |  | $ | (553 | ) | $ | 120 |
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Total recognized in net periodic benefit cost and other comprehensive loss |  | $ | 2,475 |  | $ | 51 |  | $ | 2,526 |
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2014 |  |  |  |  |  |  |  |  |  |
Net actuarial loss (gain) |  | $ | 88 |  | $ | (89 | ) | $ | (1 | )
Amortization of unrecognized prior service (credit) cost |  |  | (32 | ) |  | 106 |  |  | 74 |
Amortization of unrecognized actuarial loss (gain) |  |  | 1,519 |  |  | (9 | ) |  | 1,510 |
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Total recognized in other comprehensive loss |  | $ | 1,575 |  | $ | 8 |  | $ | 1,583 |
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Total recognized in net periodic benefit cost and other comprehensive loss |  | $ | 2,110 |  | $ | 565 |  | $ | 2,675 |
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The company has omitted the remaining disclosures for its defined benefit plans and postretirement healthcare plan as the company deems these plans to be immaterial to its consolidated financial position and results of operations.

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