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Employee Benefits
 6 Months Ended
Apr. 30, 2017
General Discussion of Pension and Other Postretirement Benefits [Abstract]  
Employee Benefits
Employee Benefits
Cooper’s Retirement Income Plan (Plan), a defined benefit plan, covers substantially all full-time United States employees. Our contributions are designed to fund normal cost on a current basis and to fund the estimated prior service cost of benefit improvements. The unit credit actuarial cost method is used to determine the annual cost. Cooper pays the entire cost of the Plan and funds such costs as they accrue. Virtually all of the assets of the Plan are comprised of equities and participation in equity and fixed income funds.
Our results of operations for the three and six months ended April 30, 2017 and 2016 reflect the following components of net periodic pension costs:
Periods Ended April 30,
Three Months
 
Six Months
(In millions)
2017
 
2016
 
2017
 
2016
Service cost
$
2.5

 
$
2.3

 
$
5.0

 
$
4.6

Interest cost
1.1

 
1.2

 
2.2

 
2.5

Expected return on plan assets
(1.8
)
 
(1.6
)
 
(3.6
)
 
(3.3
)
Recognized net actuarial loss
0.7

 
0.4

 
1.4

 
0.8

Net periodic pension cost
$
2.5

 
$
2.3

 
$
5.0

 
$
4.6



We contributed $2.5 million to the Plan in the first half of fiscal 2017, and expect to contribute an additional $7.5 million during the remainder of fiscal 2017. We contributed $2.5 million to the Plan in the first half of fiscal 2016. The expected rate of return on plan assets for determining net periodic pension cost is 8%.