Employee Benefits

3 Months Ended

Jan. 31, 2018

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. Our 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.

Our results of operations for the three months ended January 31, 2018 and 2017, reflect the following components of net periodic pension costs:

Three Months Ended January 31,
(In millions)	2018			2017
Service cost	$	2.7		$	2.5
Interest cost	1.3			1.1
Expected return on plan assets	(2.3		)	(1.8		)
Recognized net actuarial loss	0.4			0.7
Net periodic pension cost	$	2.1		$	2.5

We did not contribute to the Plan in the first quarter of fiscal 2018, and expect to contribute $10.0 million during the remainder of fiscal 2018. We did not contribute to the Plan in the first quarter of fiscal 2017. The expected rate of return on plan assets for determining net periodic pension cost is 8%.