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Retirement Plans (Tables)
 12 Months Ended
Oct. 31, 2020
Retirement Benefits [Abstract]  
Funded Status and Net periodic Benefit Cost
The changes in benefit obligation and plan assets, and our funded status (reported in deferred pension and postretirement benefits on the consolidated balance sheets) were as follows (in thousands):
 October 31,
Change in Benefit Obligation:20202019
Beginning balance as of November 1, 2019 and 2018, respectively$44,323 $35,959 
Service cost1,262 3,629 
Interest cost1,139 1,456 
Actuarial loss2,823 7,690 
Benefits paid(712)(3,581)
Administrative expenses(785)(830)
Curtailments(1,141)— 
Settlements(2,084)— 
Projected benefit obligation at October 31,$44,825 $44,323 
Change in Plan Assets:
Beginning balance as of November 1, 2019 and 2018, respectively$31,212 $32,064 
Actual return on plan assets2,789 2,869 
Employer contributions3,700 690 
Benefits paid(712)(3,581)
Administrative expenses(785)(830)
Settlements(2,084)— 
Fair value of plan assets at October 31,$34,120 $31,212 
Noncurrent liability - Funded Status$(10,705)$(13,111)
Net Periodic Pension Cost
The net periodic benefit cost for the years ended October 31, 2020, 2019 and 2018, was as follows (in thousands):
 Year Ended October 31,
 202020192018
Service cost$1,262 $3,629 $3,908 
Interest cost1,139 1,456 1,130 
Expected return on plan assets(2,006)(1,977)(2,172)
Amortization of net loss162 125 64 
Settlements462 — — 
Net periodic benefit cost$1,019 $3,233 $2,930 
Amounts Recognized in Other Comprehensive Income (Loss)
The changes in plan assets and projected benefit obligations which were recognized in our other comprehensive loss for the years ended October 31, 2020, 2019 and 2018 were as follows (in thousands):
 Year Ended October 31,
 202020192018
Net loss (gain) arising during the period$2,141 $6,697 $(2,189)
Less: Amortization of net loss162 125 64 
Less: Curtailments1,141 — — 
Less: Settlements462 — — 
Total recognized in other comprehensive loss$376 $6,572 $(2,253)
Assumptions Used in Benefit Calculations The following table presents our assumptions for pension benefit calculations for the years ended October 31, 2020, 2019 and 2018:
For the Year Ended October 31,
202020192018202020192018
Weighted Average Assumptions:Benefit ObligationNet Periodic Benefit Cost
Discount rate3.22%3.10%4.44%3.10%4.44%3.68%
Rate of compensation increase—%3.00%3.00%—%3.00%3.00%
Expected return on plan assetsn/an/an/a6.50%6.50%6.50%
Allocation and Fair Value of Pension Assets
The following tables provide our target allocation for the year ended October 31, 2020, as well as the actual asset allocation by asset category and fair value measurements as of October 31, 2020 and 2019:
 
Target AllocationActual Allocation
 October 31, 2020October 31, 2020October 31, 2019
Equity securities60.0 %60.0 %61.0 %
Fixed income40.0 %40.0 %39.0 %
Fair Value Measurements at
 October 31, 2020October 31, 2019
 (In thousands)
Money market fund$3,532 $574 
Large capitalization7,954 8,092 
Small capitalization2,407 2,489 
International equity6,130 6,219 
Other1,853 1,848 
Equity securities$18,344 $18,648 
High-quality core bond9,743 9,525 
High-quality government bond1,249 1,228 
High-yield bond1,252 1,237 
Fixed income$12,244 $11,990 
Total securities(1)
$34,120 $31,212 
Expected Benefit Payments
The following table presents the total benefit payments expected to be paid to participants by year, which includes payments funded from our assets, as well as payments paid from the plan for the year ended October 31, (in thousands):
 Pension Benefits
2021$3,036 
20222,583 
20232,404 
20242,376 
20252,394 
2026 - 203010,910 
Total$23,703 
Amounts Recognized in Balance Sheet
The table below indicates the amount of these liabilities included in the accompanying consolidated balance sheets:
 October 31, 2020October 31, 2019
 (In thousands)
Accrued liabilities$49 $49 
Deferred pension and postretirement benefits218 311 
Total$267 $360