Employee Benefits

9 Months Ended

Jul. 31, 2013

General Discussion of Pension and Other Postretirement Benefits [Abstract]

Employee Benefits

Employee Benefits

Cooper’s Retirement Income Plan (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.

Cooper’s results of operations for the three and nine months ended July 31, 2013 and 2012 reflect the following components of net periodic pension costs:

Periods Ended July 31,	Three Months						Nine Months
(In thousands)	2013			2012			2013			2012
Service cost	$	1,845		$	1,234		$	5,537		$	3,702
Interest cost	822			763			2,465			2,290
Expected returns on assets	(1,028		)	(856		)	(2,950		)	(2,568		)
Amortization of prior service cost	6			6			18			18
Amortization of transition obligation	—			5			—			15
Recognized net actuarial loss	547			282			1,640			845
Net periodic pension cost	$	2,192		$	1,434		$	6,710		$	4,302

Cooper contributed $1.1 million and $4.5 million to the pension plan for the three and nine months ended July 31, 2013, respectively, and expects to contribute an additional $1.7 million in fiscal 2013. We contributed $1.2 million and $3.4 million to the pension plan for the three and nine months ended July 31, 2012. The expected rate of return on plan assets for determining net periodic pension cost is 8%.