Pension and Other Postretirement Plans

6 Months Ended

Apr. 30, 2021

Retirement Benefits [Abstract]

Pension and Other Postretirement Plans

Pension and other postretirement plans

The components of net periodic pension cost for the three and six months ended April 30, 2021 and 2020 were:

	U.S.				International
Three Months Ended	2021		2020		2021		2020
Service cost	$	5,722	$	5,235	$	662	$	459
Interest cost	3,494		4,026		250		251
Expected return on plan assets	(7,335)		(6,175)		(431)		(304)
Amortization of prior service credit	(21)		(22)		(88)		(68)
Amortization of net actuarial loss	4,042		3,622		1,011		729
Settlement loss	2,018		—		—		—
Total benefit cost	$	7,920	$	6,686	$	1,404	$	1,067
	U.S.				International
Six Months Ended	2021		2020		2021		2020
Service cost	$	11,488	$	10,293	$	1,180	$	1,030
Interest cost	6,834		7,943		470		514
Expected return on plan assets	(14,088)		(12,334)		(822)		(635)
Amortization of prior service credit	(41)		(42)		(165)		(142)
Amortization of net actuarial loss	7,616		7,019		1,801		1,462
Settlement loss	2,018		—		—		—
Total benefit cost	$	13,827	$	12,879	$	2,464	$	2,229

Contributions to the defined benefit pension plans are expected to be approximately $68,000 for fiscal year 2021, which includes an additional cash contribution of $20,000 made in the second quarter of 2021 to move the domestic plans closer to full funding.

The components of net periodic pension cost other than service cost are included in Other – net in our Condensed Consolidated Statements of Income.

The components of other postretirement benefit costs for the three and six months ended April 30, 2021 and 2020 were:

	U.S.				International
Three Months Ended	2021		2020		2021		2020
Service cost	$	216	$	143	$	3	$	4
Interest cost	456		558		3		3
Amortization of prior service credit	—		(4)		—		—
Amortization of net actuarial (gain) loss	338		258		(10)		(9)
Total benefit cost (income)	$	1,010	$	955	$	(4)	$	(2)
	U.S.				International
Six Months Ended	2021		2020		2021		2020
Service cost	$	392	$	333	$	7	$	7
Interest cost	910		1,173		6		7
Amortization of prior service credit	—		(8)		—		—
Amortization of net actuarial (gain) loss	685		677		(20)		(18)
Total benefit cost (income)	$	1,987	$	2,175	$	(7)	$	(4)