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Employee Benefits (Tables)
 12 Months Ended
Oct. 31, 2018
Retirement Benefits [Abstract]  
Schedule of Changes in Benefit Obligation and Changes in Plan Assets
The following table sets forth the Plan's benefit obligations and fair value of the Plan assets at October 31, 2018, 2017 and 2016 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, 2018.
 
Retirement Income Plan
Years Ended October 31,
(In millions)
2018
 
2017
 
2016
Change in benefit obligation

 

 

Benefit obligation, beginning of year
$
151.7

 
$
138.9

 
$
117.3

Service cost
10.7

 
10.2

 
8.9

Interest cost
5.0

 
4.4

 
4.3

Benefits paid
(3.7
)
 
(2.6
)
 
(2.3
)
Actuarial (gain) loss
(16.6
)
 
0.8

 
10.7

Benefit obligation, end of year
$
147.1

 
$
151.7

 
$
138.9

Change in plan assets

 

 

Fair value of plan assets, beginning of year
$
112.8

 
$
89.2

 
$
79.5

Actual return on plan assets
1.9

 
16.2

 
2.0

Employer contributions
10.0

 
10.0

 
10.0

Benefits paid
(3.7
)
 
(2.6
)
 
(2.3
)
Fair value of plan assets, end of year
$
121.0

 
$
112.8

 
$
89.2

Funded status at end of year
$
(26.1
)
 
$
(38.9
)
 
$
(49.7
)
Schedule of Amounts Recognized in Balance Sheet
Years Ended October 31,
(In millions)                  
2018
 
2017
 
2016
Amounts recognized in the statement of financial position consist of:

 

 

Noncurrent asset
$
—


$
—


$
—

Current liability
—


—


—

Noncurrent liabilities
(26.1
)

(38.9
)

(49.7
)
Net amount recognized at year end
$
(26.1
)

$
(38.9
)

$
(49.7
)
Schedule of Amounts Recognized in Accumulated Other Comprehensive Income
Years Ended October 31,
(In millions)                  
2018
 
2017
 
2016
Amounts recognized in accumulated other comprehensive income consist of:

 

 

Prior service cost
—


—


—

Net loss
24.0


34.9


45.8

Accumulated other comprehensive income
$
24.0


$
34.9


$
45.8
Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets
Years Ended October 31,
(In millions)                  
2018
 
2017
 
2016
Information for pension plans with accumulated benefit obligation in excess of plan assets
 
 
 
 
 
Accumulated benefit obligation
$
130.5

 
$
133.3

 
$
121.2

Fair value of plan assets
$
121.0

 
$
112.8

 
$
89.2

Years Ended October 31,
(In millions)                  
2018
 
2017
 
2016
Information for pension plans with projected benefit obligation in excess of plan assets

 

 

Projected benefit obligation
$
147.1

 
$
151.7

 
$
138.9

Fair value of plan assets
$
121.0

 
$
112.8

 
$
89.2
Schedule of Reconciliation of Prepaid (Accrued) Pension Cost
Years Ended October 31,
(In millions)                  
2018
 
2017
 
2016
Reconciliation of accrued pension cost

 

 

Accrued pension cost at prior fiscal year end
$
4.0


$
4.0


$
5.7

Net periodic benefit cost
8.2


10.0


8.3

Contributions made during the year
(10.0
)

(10.0
)

(10.0
)
Accrued pension cost at fiscal year end
$
2.2


$
4.0


$
4.0
Schedule of Components of Net Periodic Pension Costs
Years Ended October 31,
(In millions)                  
2018
 
2017
 
2016
Components of net periodic benefit cost and other amounts recognized in the fiscal year

 

 

Net periodic benefit cost:

 

 

Service cost
$
10.7


$
10.2


$
8.9

Interest cost
5.0


4.4


4.3

Expected return on plan assets
(9.2
)

(7.3
)

(6.6
)
Recognized actuarial loss
1.7


2.7


1.7

Net periodic pension cost
$
8.2


$
10.0


$
8.3
Schedule of Defined Benefit Plan Amounts Recognized in Other Comprehensive Income (Loss)
Years Ended October 31,
(In millions)
2018
 
2017
 
2016
Other changes in plan assets and benefit obligations recognized in other comprehensive income


 


 


Net (gain) loss
(9.3
)

(8.1
)

15.4

Amortizations of net (gain)
(1.7
)

(2.7
)

(1.7
)
Total recognized in other comprehensive (income)
$
(11.0
)

$
(10.8
)

$
13.7

Total recognized in net periodic benefit cost and other comprehensive (income)
$
(2.8
)

$
(0.8
)

$
22.0
Schedule of Weighted-Average Assumptions Used in Computing the Net Periodic Pension Cost and Projected Benefit Obligation
Years Ended October 31,
2018
 
2017
 
2016
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
3.75
%
 
3.74
%
 
4.25
%
Service Cost
3.85
%
 
3.90
%
 
4.42
%
Interest Cost
3.39
%
 
3.23
%
 
3.70
%
Discount rate for determining benefit obligations at year end
4.42
%

3.75
%

3.74
%
Rate of compensation increase for determining expense
4.00
%

4.00
%

4.00
%
Rate of compensation increase for determining benefit obligations at year end
4.00
%

4.00
%

4.00
%
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
10/31/2018


10/31/2017


10/31/2016
Schedule of Weighted-Average Asset Allocations by Asset Category
Plan Assets
 
Weighted-average asset allocations at year end, by asset category are as follows:
Years Ended October 31,
2018
 
2017
 
2016
Asset category

 

 

Cash and cash equivalents
2.1
%
 
0.9
%
 
4.9
%
Corporate common stock
14.5
%
 
12.2
%
 
8.9
%
Equity mutual funds
47.4
%
 
49.9
%
 
47.2
%
Real estate funds
2.7
%
 
2.9
%
 
4.3
%
Bond mutual funds
33.3
%
 
34.1
%
 
34.7
%
Total
100.0
%
 
100.0
%
 
100.0
%
Schedule of Fair Value Measurement of Plan Assets
Fair Value Measurement of Plan Assets
(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
$
2.5


$
2.5


$
—


$
—

Corporate common stock
17.6


17.6


—


—

Equity mutual funds
57.3


57.3


—


—

Real estate funds
3.3


3.3


—


—

Bond mutual funds
40.3


40.3


—


—

Total
$
121.0


$
121.0


$
—


$
—
Schedule of Estimated Future Benefit Payments
Estimated Future Benefit Payments
Years
(In millions)
 
2019
$
3.7

2020
$
4.2

2021
$
4.7

2022
$
5.3

2023
$
6.0

2024-2028
$
40.0