The following table sets forth the Plan's benefit obligations and fair value of the Plan assets at October 31, 2024, 2023 and 2022 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, 2024. The net amounts recognized in the Consolidated Balance Sheets consist of non-current liabilities. The accumulated benefit obligation was $161.7 million, $131.5 million and $134.9 million for the years ended October 31, 2024, 2023 and 2022. Retirement Income Plan | | | | | | | | | | | | | | | | | | Years Ended October 31,
(In millions) | 2024 | | 2023 | | 2022 | | Change in benefit obligation | | | | | | | Benefit obligation, beginning of year | $ | 144.5 | | | $ | 148.0 | | | $ | 230.9 | | | Service cost | 8.7 | | | 10.0 | | | 18.3 | | | Interest cost | 8.4 | | | 7.9 | | | 5.1 | | | Benefits paid | (9.1) | | | (10.5) | | | (13.1) | | | | | | | | | Actuarial (gain)/loss | 26.4 | | | (10.9) | | | (93.2) | | | Benefit obligation, end of year | $ | 178.9 | | | $ | 144.5 | | | $ | 148.0 | | | Change in plan assets | | | | | | | Fair value of plan assets, beginning of year | $ | 137.6 | | | $ | 142.9 | | | $ | 199.5 | | | Actual return on plan assets | 34.8 | | | 4.1 | | | (43.5) | | | Employer contributions | 0.4 | | | 1.1 | | | — | | | Benefits paid | (9.1) | | | (10.5) | | | (13.1) | | | Fair value of plan assets, end of year | $ | 163.7 | | | $ | 137.6 | | | $ | 142.9 | | | Funded status at end of year | $ | (15.2) | | | $ | (6.9) | | | $ | (5.1) | |
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