Stockholders' Equity

12 Months Ended

Oct. 31, 2015

Equity [Abstract]

Stockholders' Equity

Stockholders’ Equity

Analysis of changes in accumulated other comprehensive income (loss):

(In millions)	Foreign Currency Translation Adjustment			Unrealized Gain (Loss) on Marketable Securities			Change in Value of Derivative Instruments			Minimum Pension Liability			Total
Balance at October 31, 2012	$	(7.2	)	$	—		$	(2.4	)	$	(21.7	)	$	(31.3	)
Gross change in value for the period	2.6			—			(0.7		)	19.0			20.9
Reclassification adjustments for (gain) loss realized in income	—			(0.1		)	2.9			—			2.8
Tax effect for the period	—			0.1			(0.9		)	(7.4		)	(8.2		)
Balance at October 31, 2013	$	(4.6	)	$	—		$	(1.1	)	$	(10.1	)	$	(15.8	)
Gross change in value for the period	$	(87.8	)	$	—		$	(0.1	)	$	(5.9	)	$	(93.8	)
Reclassification adjustments for loss realized in income	—			—			1.7			—			1.7
Tax effect for the period	—			—			(0.6		)	2.3			1.7
Balance at October 31, 2014	$	(92.4	)	$	—		$	(0.1	)	$	(13.7	)	$	(106.2	)
Gross change in value for the period	$	(79.4	)	$	—		$	—		$	(10.0	)	$	(89.4	)
Reclassification adjustments for loss realized in income	—			—			0.1			—			0.1
Tax effect for the period	—			—			—			3.9			3.9
Balance at October 31, 2015	$	(171.8	)	$	—		$	—		$	(19.8	)	$	(191.6	)

Share Repurchases

In December 2011, our Board of Directors authorized the 2012 Share Repurchase Program and subsequently amended the total repurchase authorization to $500.0 million of the Company's common stock. With the amendment, this program has no expiration date and may be discontinued at any time. Purchases under the 2012 Share Repurchase Program are subject to a review of the circumstances in place at the time and may be made from time to time as permitted by securities laws and other legal requirements.

During the fiscal year ended October 31, 2015, we repurchased 468 thousand shares of our common stock for $67.3 million and approximately $118.4 million remained authorized for repurchase under the program. During the three months ended October 31, 2015, we repurchased 368 thousand shares of our common stock for $51.3 million at an average purchase price of $139.60 per share. For the three months ended January 31, 2015, we repurchased 100 thousand shares of our common stock for $16.0 million at an average purchase price of $159.96 per share. We did not repurchase shares during the three-month periods ended July 31, 2015 and April 30, 2015.

During the fiscal year ended October 31, 2014, we repurchased 572 thousand shares of our common stock for $75.8 million. During the fiscal year ended October 31, 2013, we repurchased 1.4 million shares of our common stock for $167.3 million.

Cash Dividends

In fiscal 2015 and 2014, we paid semiannual dividends of 3 cents per share: an aggregate of $1.4 million or 3 cents per share on February 9, 2015, to stockholders of record on January 23, 2015; $1.5 million or 3 cents per share on August 6, 2015, to stockholders of record on July 24, 2015; $1.4 million or 3 cents per share on February 7, 2014, to stockholders of record on January 24, 2014; $1.5 million or 3 cents per share on August 6, 2014, to stockholders of record on July 24, 2014.

Stockholders' Rights Plan

Under our stockholders' rights plan, each outstanding share of our common stock carries one-half of one preferred share purchase right (Right). The Rights will become exercisable only under certain circumstances involving acquisition of beneficial ownership of 20% or more of our common stock by a person or group (Acquiring Person) without the prior consent of Cooper's Board of Directors. If a person or group becomes an Acquiring Person, each Right would then entitle the holder (other than an Acquiring Person) to purchase, for the then purchase price of the Right (currently $450, subject to adjustment), shares of Cooper's common stock, or shares of common stock of any person into which we are thereafter merged or to which 50% or more of our assets or earning power is sold, with a market value of twice the purchase price. The Rights will expire in October 2017 unless earlier exercised or redeemed. The Board of Directors may redeem the Rights for $0.01 per Right prior to any person or group becoming an Acquiring Person.