PENSION AND POST-RETIREMENT BENEFITS

3 Months Ended

Jan. 31, 2017

Employee future benefits

The components of net periodic benefit cost from continuing operations for the defined benefit plans and other benefit plans for the three months ended January 31, 2017 and 2016 were as follows:



	Three months ended January 31,
	2017			2016
	Defined benefit pension plans		Other benefit plans	Defined benefit pension plans		Other benefit plans
	$		$	$		$
Service cost	0.6		—	0.5		—
Interest cost	1.0		0.1	1.3		0.1
Expected return on plan assets	(1.0	)	—	(1.3	)	—
Amortization of actuarial loss	0.7		—	0.4		—
Net periodic benefit costs	1.3		0.1	0.9		0.1

Based on current information available from actuarial estimates, the Company anticipates that contributions required under its defined benefit pension plans and other benefit plans for fiscal 2017 will be approximately $3.9 million compared to contributions of $5.2 million that were made in fiscal 2016. The decrease in the expected fiscal 2017 contributions compared to fiscal 2016 are primarily the result of decreased obligations on a pension plan for the Bourgoin, France facility due to a workforce reduction in fiscal 2016. Required contributions to defined benefit pension plans in future years may vary and will be dependent upon a number of variables, including the long-term rate of return on plan assets.

The Company recognizes a termination liability for the Company's Italy operations. In accordance with Italian severance pay statutes, an employee benefit is accrued for service to date and is payable when the employee's employment with the Company ceases. The termination indemnity liability is calculated in accordance with local civil and labor laws based on each employee's length of service, employment category and remuneration. The Italian termination liability is adjusted annually by a cost-of-living index provided by the Italian government. Although there is no vesting period, the Italian government has established private accounts for these benefits and has required the Company to contribute $3.9 million and $3.4 million in fiscal 2017 and 2016, respectively, to these accounts, with additional contributions in the future. The liability recorded in the consolidated balance sheets is the amount to which the employees would be entitled if their employment with the Company ceased. The related expenses for the three months ended January 31, 2017 and 2016 was $0.9 million and $0.7 million, respectively.

The employee future benefit expense recorded in continuing operations in connection with defined benefit pension plans, other post-retirement benefit plans and the unfunded termination indemnities for the three months ended January 31, 2017 and 2016 was $2.3 million and $1.7 million, respectively.