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Employee Benefits
 9 Months Ended
Jul. 31, 2020
Retirement Benefits [Abstract]  
Employee Benefits Employee Benefits
Cooper’s Retirement Income Plan (the Plan), a defined benefit plan, covers substantially all full-time United States employees. Cooper's 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 nine months ended July 31, 2020 and 2019, reflect the following components of net periodic defined benefit costs:
Periods Ended July 31,
Three Months
 
Nine Months
(In millions)
2020
 
2019
 
2020
 
2019
Service cost
$
5.2

 
$
2.2

 
$
12.1

 
$
7.6

Interest cost
0.9

 
2.1

 
3.5

 
4.6

Expected return on plan assets
(3.6
)
 
(2.8
)
 
(9.0
)
 
(7.4
)
Recognized net actuarial gain (loss)
1.8

 
(0.2
)
 
3.8

 
0.6

Net periodic defined benefit plan cost
$
4.3

 
$
1.3

 
$
10.4

 
$
5.4


We did not contribute to the Plan in the first nine months of fiscal 2020 and expect to contribute $23.4 million during the remainder of the year. We contributed $5.0 million to the Plan in the first nine months of fiscal 2019. The expected rate of return on Plan assets for determining net periodic benefit plan cost is 8%.