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Employee Benefit Plans
12 Months Ended
Oct. 31, 2017
Retirement Benefits [Abstract]  
Employee Benefit Plans
EMPLOYEE BENEFIT PLANS
Defined Benefit Plans
We provide benefits to certain employees under various defined benefit and postretirement benefit plans (collectively, the “Plans”). The Plans were previously amended to preclude new participants. All but one of the Plans are unfunded.
Information for the Plans
 
As of October 31,
(in millions)
2017
 
2016
Net obligations
$
7.5

 
$
7.8

Projected benefit obligations
15.7

 
15.7

Fair value of assets
8.2

 
7.9


At October 31, 2017, approximately 47% of the Plan assets were invested in equities, 43% in fixed income, and 10% in cash. The expected return on assets was $0.4 million during 2017 and $0.5 million for each of 2016 and 2015. The aggregate net periodic benefit cost for all Plans was $0.2 million for each of 2017, 2016, and 2015. Future benefit payments in the aggregate are expected to be $13.8 million.
Deferred Compensation Plans
We maintain deferred compensation plans that permit eligible employees and directors to defer a portion of their compensation. At October 31, 2017 and 2016, the total liability of all deferred compensation was $17.6 million and $19.1 million, respectively, and these amounts are included in “Other accrued liabilities” and “Other noncurrent liabilities” on the accompanying consolidated balance sheets. Under one of our deferred compensation plans, a Rabbi trust was created to fund the obligations, and we are required to contribute a portion of the deferred compensation contributions for eligible participants. The assets held in the Rabbi trust are not available for general corporate purposes. At October 31, 2017 and 2016, the fair value of these assets was $4.6 million and $4.9 million, respectively, and was included in “Other noncurrent assets” on the accompanying consolidated balance sheets. Aggregate expense recognized under these deferred compensation plans was $0.4 million for each of 2017 and 2016 and $0.5 million for 2015.
Defined Contribution Plans
We sponsor four defined contribution plans covering certain employees that are subject to the applicable provisions of the Employee Retirement Income Security Act of 1974 and the Internal Revenue Code (“IRC”). Certain plans permit a company match of a portion of the participant’s contributions or a discretionary contribution after the participant has met the eligibility requirements set forth in the plan. During 2017, 2016, and 2015, we made matching contributions required by the plans of $13.7 million, $11.7 million, and $12.1 million, respectively.
Multiemployer Pension and Postretirement Plans
We participate in various multiemployer pension plans under union and industry-wide agreements, which provide defined pension benefits to employees covered by collective bargaining agreements. Because of the nature of multiemployer plans, there are risks associated with participation in these plans that differ from single-employer plans. Assets contributed by an employer to a multiemployer plan are not segregated into a separate account and are not restricted to provide benefits only to employees of that contributing employer. In the event another participating employer in a multiemployer plan no longer contributes to the plan, the unfunded obligations of the plan may be borne by the remaining participating employers, including us. In the event of the termination of a multiemployer pension plan or a withdrawal from a multiemployer pension plan, we could incur material liabilities under applicable law.
Key Information for Individually Significant Multiemployer Defined Benefit Pension Plans(1) 
(in millions)
 
 
Pension Protection Act Zone Status(3)
 
FIP/RP Status(4)
 
Contributions by ABM
 
Surcharge Imposed(5)
 
Expiration Dates of Collective Bargaining Agreements
Pension Fund
EIN/PN(2)
 
2017
 
2016
 
Pending/
Implemented
 
2017
 
2016
 
2015
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Building Service 32BJ Pension Fund
13-1879376 / 001
 
Red
6/30/2017
 
Red
6/30/2016
 
Implemented
 
20.1

 
17.0

 
14.2

 
No
 
12/31/2019
Central Pension Fund of the IUOE & Participating Employers
36-6052390 / 001
 
Green
1/31/2017
 
Green
1/31/2016
 
N/A*
 
10.7

 
11.0

 
11.2

 
N/A*
 
12/31/2017-
12/31/2020
S.E.I.U. National Industry Pension Fund
52-6148540 / 001
 
Red
12/31/2016
 
Red
12/31/2015
 
Implemented
 
7.2

 
6.8

 
6.0

 
Yes
 
7/31/2020
Local 25 SEIU & Participating Employers Pension Trust
36-6486542/001
 
Green
9/30/2016
 
Green
9/30/2015
 
N/A*
 
6.0

 
6.2

 
6.0

 
N/A*
 
4/8/2018-
6/30/2018
IUOE Stationary Engineers Local 39 Pension Plan
94-6118939 / 001
 
Green
12/31/2016
 
Green
12/31/2015
 
N/A*
 
4.8

 
5.2

 
5.6

 
N/A*
 
2/28/2019-
7/31/2019
Western Conference of Teamsters Pension Plan
91-6145047 / 001
 
Green
12/31/2016
 
Green 12/31/2015
 
N/A*
 
3.5

 
0.9

 
1.0

 
N/A*
 
11/30/2018-
12/31/2021

Local 68 Engineers Union Pension Plan
51-0176618 / 001
 
Green
6/30/2016
 
Green
6/30/2015
 
N/A*
 
2.8

 
2.8

 
3.0

 
N/A*
 
2/28/2018-
8/31/2021
All Other Plans:
 
 
 
 
 
 
 
 
8.0

 
9.4

 
11.5

 
 
 
 
Total Contributions
 
 
 
 
 
 
 
 
$
63.1

 
$
59.3

 
$
58.5

 
 
 
 
*
Not applicable

(1) To determine individually significant plans, we evaluated several factors, including our total contributions to the plan, our significance to the plan in terms of participating employees and contributions, and the funded status of the plan.
(2) The “EIN/PN” column provides the Employer Identification Number and the three-digit plan number assigned to the plan by the Internal Revenue Service (“IRS”).
(3) The Pension Protection Act Zone Status columns provide the two most recent Pension Protection Act zone statuses available from each plan. The zone status is based on information provided to us and other participating employers and is certified by each plan’s actuary. Among other factors, plans in the red zone are generally less than 65% funded, plans in the yellow zone are less than 80% funded, and plans in the green zone are at least 80% funded.
(4) Indicates whether a Financial Improvement Plan (“FIP”) for yellow zone plans or a Rehabilitation Plan (“RP”) for red zone plans is pending or implemented.
(5) Indicates whether our contribution rate in 2017 included an amount in addition to the contribution rate specified in the applicable collective bargaining agreement as imposed by a plan in the red zone.

Multiemployer Pension Plans for which ABM is a Significant Contributor
Pension Fund
 
Contributions to the plan exceeded more than 5% of total contributions per most currently available Forms 5500
 
(as of the Plan’s year end)
Arizona Sheet Metal Pension Trust Fund*
 
6/30/2016, 6/30/2015 and 6/30/2014
Building Service 32BJ Pension Fund
 
6/30/2016, 6/30/2015 and 6/30/2014
Building Service Pension Plan*
 
4/30/2016, 4/30/2015 and 4/30/2014
Contract Cleaners Service Employees’ Pension Plan*
 
12/31/2016, 12/31/2015 and 12/31/2014
IUOE Stationary Engineers Local 39 Pension Plan
 
12/31/2016 and 12/31/2014
Local 210’s Pension Plan*
 
12/31/2016, 12/31/2015 and12/31/2014
Local 25 SEIU & Participating Employers Pension Trust
 
9/30/2016, 9/30/2015 and 9/30/2014
Massachusetts Service Employees Pension Plan*
 
12/31/2016, 12/31/2015 and 12/31/2014
S.E.I.U. National Industry Pension Fund
 
12/31/2016, 12/31/2015 and 12/31/2014
Service Employees International Union Local 1 Cleveland Pension Plan*
 
12/31/2016, 12/31/2015, and 12/31/2014
Service Employees International Union Local 32BJ, District 36 Building Operators Pension Trust Fund
 
12/31/2016, 12/31/2015 and 12/31/2014
Teamsters Local 617 Pension Fund*
 
2/28/2017, 2/29/2016 and 2/28/2015
Teamsters Local Union No. 727 Pension Plan*
 
2/28/2017 and 2/29/2016

* These plans are not separately listed in our multiemployer table as they represent an insignificant portion of our total multiemployer pension plan contributions.
There have been no significant changes that affect the comparability of total contributions for any of the periods presented.
Multiemployer Defined Contribution Plans
In addition to contributions noted above, we also make contributions to multiemployer defined contribution plans. During 2017, 2016, and 2015, our contributions to the defined contribution plans were $5.4 million, $6.6 million, and $6.8 million, respectively.
Multiemployer Other Postretirement Benefit Plans
We also contribute to several multiemployer postretirement health and welfare plans based on obligations arising under collective bargaining agreements covering union-represented employees. These plans may provide medical, pharmacy, dental, vision, mental health, and other benefits to employees as determined by the trustees of each plan. The majority of our contributions benefit active employees and as such, may not constitute contributions to a postretirement benefit plan. However, since we are unable to separate contribution amounts to postretirement benefit plans from contribution amounts paid to benefit active employees, we categorize all such amounts as contributions to postretirement benefit plans. During 2017, 2016, and 2015, our contributions to such plans were $247.9 million, $224.5 million, and $216.8 million, respectively. There have been no significant changes that affect the comparability of total contributions for any of the periods presented.