XML 93 R34.htm IDEA: XBRL DOCUMENT v2.4.1.9
Employee Benefits (Tables)
12 Months Ended
Oct. 31, 2014
Compensation and Retirement Disclosure [Abstract]  
Schedule of Changes in Benefit Obligation and Changes in Plan Assets
The following table sets forth the Plan's benefit obligations and fair value of the Plan assets at October 31, 2014, and the funded status of the Plan and net periodic pension costs for each of the years in the three-year period ended October 31, 2014.
 
Retirement Income Plan
Years Ended October 31,
(In thousands)
2014
 
2013
 
2012
Change in benefit obligation

 

 

Benefit obligation, beginning of year
$
84,160

 
$
88,607

 
$
64,989

Service cost
7,074

 
7,383

 
4,937

Interest cost
3,950

 
3,287

 
3,053

Benefits paid
(1,768
)
 
(3,508
)
 
(1,308
)
Actuarial loss (gain)
7,695

 
(11,609
)
 
16,936

Benefit obligation, end of year
$
101,111

 
$
84,160

 
$
88,607

Change in plan assets

 

 

Fair value of plan assets, beginning of year
$
59,266

 
$
47,427

 
$
39,098

Actual return on plan assets
5,955

 
9,113

 
4,411

Employer contributions
8,788

 
6,234

 
5,226

Benefits paid
(1,768
)
 
(3,508
)
 
(1,308
)
Fair value of plan assets, end of year
$
72,241

 
$
59,266

 
$
47,427

Funded status at end of year
$
(28,870
)
 
$
(24,894
)
 
$
(41,180
)
Schedule of Amounts Recognized in Balance Sheet
Years Ended October 31,
(In thousands)                  
2014
 
2013
 
2012
Amounts recognized in the statement of financial position consist of:

 

 

Noncurrent asset
$


$


$

Current liability





Noncurrent liabilities
(28,870
)

(24,894
)

(41,180
)
Net amount recognized at year end
$
(28,870
)

$
(24,894
)

$
(41,180
)
Schedule of Amounts Recognized in Accumulated Other Comprehensive Income
Years Ended October 31,
(In thousands)                  
2014
 
2013
 
2012
Amounts recognized in accumulated other comprehensive income consist of:

 

 

Net transition obligation
$

 
$

 
$

Prior service cost
4

 
28

 
53

Net loss
22,056

 
15,982

 
34,957

Accumulated other comprehensive income
$
22,060

 
$
16,010

 
$
35,010

Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets
Years Ended October 31,
(In thousands)                  
2014
 
2013
 
2012
Information for pension plans with accumulated benefit obligations in excess of plan assets

 

 

Projected benefit obligation
$
101,111

 
$
84,160

 
$
88,607

Accumulated benefit obligation
$
88,563

 
$
73,641

 
$
77,596

Fair value of plan assets
$
72,241

 
$
59,266

 
$
47,427

Schedule of Reconciliation of Prepaid (Accrued) Pension Cost
Years Ended October 31,
(In thousands)                  
2014
 
2013
 
2012
Reconciliation of prepaid (accrued) pension cost
 
 
 
 
 
Accrued pension cost at prior fiscal year end
$
(8,884
)
 
$
(6,170
)
 
$
(5,660
)
Net periodic benefit cost
6,714

 
8,948

 
5,736

Contributions made during the year
8,788

 
6,234

 
5,226

Accrued pension cost at fiscal year end
$
(6,810
)
 
$
(8,884
)
 
$
(6,170
)
Schedule of Components of Net Periodic Pension Costs
Years Ended October 31,
(In thousands)                  
2014
 
2013
 
2012
Components of net periodic benefit cost and other amounts recognized in other comprehensive income
 
 
 
 
 
Net periodic benefit cost:
 
 
 
 
 
   Service cost
$
7,074

 
$
7,383

 
$
4,937

   Interest cost
3,950

 
3,287

 
3,053

   Expected return on plan assets
(4,950
)
 
(3,932
)
 
(3,424
)
   Amortization of transitional (asset) or obligation

 

 
20

   Amortization of prior service cost
24

 
24

 
24

   Recognized actuarial loss
616

 
2,186

 
1,126

   Net periodic pension cost
$
6,714

 
$
8,948

 
$
5,736

Schedule of Defined Benefit Plan Amounts Recognized in Other Comprehensive Income (Loss)
Years Ended October 31,
(In thousands)
2014
 
2013
 
2012
Other changes in plan assets and benefit obligations recognized in other comprehensive income
 
 
 
 
 
Net transition obligation
$

 
$

 
$

Prior service cost

 

 

Net loss (gain)
6,690

 
(16,790
)
 
15,950

Amortizations of net transition obligation

 

 
(21
)
Amortizations of prior service cost
(24
)
 
(24
)
 
(24
)
Amortizations of net gain
(616
)
 
(2,186
)
 
(1,126
)
Total recognized in other comprehensive income
$
6,050

 
$
(19,000
)
 
$
14,779

Total recognized in net periodic benefit cost and other comprehensive income
$
12,764

 
$
(10,052
)
 
$
20,515

Schedule of Weighted-Average Assumptions Used in Computing the Net Periodic Pension Cost and Projected Benefit Obligation
Years Ended October 31,
2014
 
2013
 
2012
Weighted-average assumptions used in computing the net periodic pension cost and projected benefit obligation at year end:

 

 

Discount rate for determining net periodic pension cost
4.75
%
 
3.75
%
 
4.75
%
Discount rate for determining benefit obligations at year end
4.25
%
 
4.75
%
 
3.75
%
Rate of compensation increase for determining expense
4.00
%
 
4.00
%
 
4.00
%
Rate of compensation increase for determining benefit obligations at year end
4.00
%
 
4.00
%
 
4.00
%
Expected rate of return on plan assets for determining net periodic pension cost
8.00
%
 
8.00
%
 
8.50
%
Expected rate of return on plan assets at year end
8.00
%
 
8.00
%
 
8.00
%
Measurement date for determining assets and benefit obligations at year end
10/31/2014

 
10/31/2013

 
10/31/2012

Schedule of Weighted-Average Asset Allocations by Asset Category
Weighted-average asset allocations at year end, by asset category are as follows:
Years Ended October 31,
2014
 
2013
 
2012
Asset category

 

 

Cash and cash equivalents
3.0
%
 
5.3
%
 
3.0
%
Corporate common stock
9.0
%
 
14.6
%
 
16.5
%
Equity mutual funds
52.1
%
 
47.5
%
 
43.2
%
Real estate funds
4.1
%
 
3.8
%
 
5.2
%
Bond mutual funds
31.8
%
 
28.8
%
 
32.1
%
Total
100.0
%
 
100.0
%
 
100.0
%
Schedule of Fair Value Measurement of Plan Assets
Fair Value Measurement of Plan Assets
(In thousands)
Total
 
Quoted Prices
in Active
Markets for
Identical Assets
(Level 1)
 
Significant
Observable
Inputs
(Level 2)
 
Significant
Unobservable
Inputs
(Level 3)
Asset category

 

 

 

Cash and cash equivalents
$
2,191

  
$
2,191

  
$

  
$

Corporate common stock
6,516

  
6,516

  

  

Equity mutual funds
37,635

  
37,635

  

  

Real estate funds
2,953

  
2,953

  

  

Bond mutual funds
22,946

  
22,946

  

  

Total
$
72,241

  
$
72,241

  
$

  
$

Schedule of Estimated Future Benefit Payments
Estimated Future Benefit Payments
Years
(In thousands)
 
2015
$
2,258

2016
$
2,646

2017
$
3,049

2018
$
3,418

2019
$
3,874

2020 - 2024
$
26,797