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Retirement, Pension and Other Postretirement Plans (Tables)
 12 Months Ended
Oct. 31, 2022
Summary of Accumulated Other Comprehensive Loss Accumulated other comprehensive loss at October 31, 2022 and 2021 consisted of:
Cumulative
translation
adjustments		Pension and
postretirement benefit
plan adjustments		Accumulated
other comprehensive
loss
Balance at October 31, 2021$(33,389)$(142,446)$(175,835)
Pension and postretirement plan changes, net of tax of ($31,007)
— 94,710 94,710 
Currency translation losses(126,657)— (126,657)
Balance at October 31, 2022$(160,046)$(47,736)$(207,782)
Pension Plans  
Reconciliation of the Benefit Obligations, Plan Assets, Accrued Benefit Cost and the Amount Recognized in Financial Statements for Pension Plans
A reconciliation of the benefit obligations, plan assets, accrued benefit cost and the amount recognized in financial statements for pension plans is as follows:
United StatesInternational
2022202120222021
Change in benefit obligation:    
Benefit obligation at beginning of year$627,271 $615,768 $106,049 $104,849 
Service cost16,820 22,555 1,693 2,120 
Interest cost14,486 13,652 1,105 887 
Participant contributions— — 72 80 
Amendments— — — 15 
Settlements(171,181)(9,016)(1,446)(714)
Curtailments(2,715)(2,436)(705)— 
Foreign currency exchange rate change— — (14,291)1,024 
Actuarial (gain) loss(165,697)4,561 (29,414)(121)
Benefits paid(15,464)(17,813)(2,183)(2,091)
Benefit obligation at end of year$303,520 $627,271 $60,880 $106,049 
Change in plan assets:
Beginning fair value of plan assets$639,589 $510,250 $47,274 $45,476 
Actual return on plan assets(121,912)62,063 301 243 
Company contributions2,819 94,105 2,381 3,318 
Participant contributions— — 72 80 
Settlements(171,181)(9,016)(1,446)(714)
Foreign currency exchange rate change— — (8,083)962 
Benefits paid(15,464)(17,813)(2,183)(2,091)
Ending fair value of plan assets$333,851 $639,589 $38,316 $47,274 
Funded status at end of year$30,331 $12,318 $(22,564)$(58,775)
Amounts recognized in financial statements:
Noncurrent asset$41,548 $30,840 $7,588 $4,086 
Accrued benefit liability(813)(799)(5)— 
Long-term pension obligations(10,404)(17,723)(30,147)(62,861)
Total amount recognized in financial statements$30,331 $12,318 $(22,564)$(58,775)
 
The net actuarial gain included in the projected benefit obligation for the United States pension plans for 2022 was primarily due to higher discount rates partially offset by an increase in the compensation increase assumption. The net actuarial loss included in the projected benefit obligation for the United States pension plans for 2021 was primarily due to updated census data partially offset by gains due to changes in the discount rates.
Amounts recognized in accumulated other comprehensive (gain) loss:
 United StatesInternational
 2022202120222021
Net actuarial loss (gain)$74,293 $142,070 $(2,280)$30,544 
Prior service cost (credit)— 48 (133)(1,808)
Accumulated other comprehensive loss (income)$74,293 $142,118 $(2,413)$28,736 
Summary of Accumulated Other Comprehensive Loss
The following table summarizes the changes in accumulated other comprehensive loss (income): 
United StatesInternational
2022202120222021
Balance at beginning of year$142,118 $192,577 $28,736 $29,960 
Net (gain) loss arising during the year(16,010)(29,091)(28,234)1,220 
Prior service cost arising during the year— — — 15 
Net gain recognized during the year(7,504)(14,885)(2,278)(3,144)
Prior service adjustment recognized during the year(48)64 104 303 
Settlement (gain) loss(41,548)(4,111)29 (32)
Curtailment (gain) loss(2,715)(2,436)1,406 — 
Exchange rate effect during the year— — (2,176)414 
Balance at end of year$74,293 $142,118 $(2,413)$28,736 
Accumulated Benefit Obligation
Information regarding the funded status of the Company's plans is as follows:
United StatesInternational
2022202120222021
For plans with accumulated benefit obligation in excess of plan assets:
Accumulated benefit obligation$10,555 $16,182 $32,514 $85,559 
Fair value of plan assets— — 4,724 32,306 
For plans with projected benefit obligation in excess of plan assets:
Projected benefit obligation11,217 18,522 34,931 95,221 
Fair value of plan assets— — 4,778 32,360 
Components of Net Periodic Benefits Cost
Net periodic pension costs include the following components:
United StatesInternational
202220212020202220212020
Service cost$16,820 $22,555 $20,635 $1,693 $2,120 $2,099 
Interest cost14,486 13,652 15,824 1,105 887 1,025 
Expected return on plan assets(27,776)(28,410)(24,667)(1,430)(1,585)(1,273)
Amortization of prior service credit48 (64)(84)(104)(303)(290)
Amortization of net actuarial loss7,504 14,885 14,032 2,278 3,144 2,972 
Settlement loss (gain)41,548 4,111 2,508 (29)32 — 
Curtailment gain— — — (2,112)— — 
Total benefit cost$52,630 $26,729 $28,248 $1,401 $4,295 $4,533 
Weighted Average Assumptions Representing the Rates Used to Develop the Actuarial Present Value of Projected Benefit Obligation and the Net Periodic Benefit Costs
The weighted average assumptions used in the valuation of pension benefits were as follows:
United StatesInternational
202220212020202220212020
Assumptions used to determine benefit obligations at October 31:
Discount rate5.70 %3.02 %2.85 %3.78 %1.30 %1.01 %
Rate of compensation increase4.30 4.00 4.00 3.44 2.90 2.69 
Assumptions used to determine net benefit costs for the years ended October 31:
Discount rate - benefit obligation3.02 2.85 3.25 1.30 1.01 1.26 
Discount rate - service cost3.42 3.30 3.56 1.14 0.93 1.12 
Discount rate - interest cost2.35 2.10 2.78 1.37 0.80 1.05 
Expected return on plan assets5.75 5.75 5.75 3.29 3.31 3.22 
Rate of compensation increase4.00 4.00 4.00 2.90 2.69 3.12 
Allocation of Pension Plan Assets
The allocation of pension plan assets as of October 31, 2022 and 2021 is as follows:
 United StatesInternational
 2022202120222021
Asset Category
Equity securities3 %13 %— %— %
Debt securities42 46 — — 
Insurance contracts— — 47 51 
Pooled investment funds54 41 51 48 
Other1 — 2 1 
Total100 %100 %100 %100 %
Fair Values of Pension Plan Assets
The fair values of our pension plan assets at October 31, 2022 by asset category are in the table below:
United StatesInternational
TotalLevel 1Level 2Level 3TotalLevel 1Level 2Level 3
Cash$381 $381 $— $— $775 $775 $— $— 
Money market funds155 155 — — — — — — 
Equity securities:
Basic materials719 719 — — — — — — 
Consumer goods1,802 1,802 — — — — — — 
Financial1,489 1,489 — — — — — — 
Healthcare1,801 1,801 — — — — — — 
Industrial goods1,713 1,713 — — — — — — 
Technology1,569 1,569 — — — — — — 
Fixed income securities:
U.S. Government29,252 328 28,924 — — — — — 
Corporate109,433 — 109,433 — — — — — 
Other2,964 — 2,964 — — — — — 
Other types of investments:
Insurance contracts— — — — 18,066 — — 18,066 
Other1,474 1,474 — — — — — — 
Total investments in the fair value hierarchy$152,752 $11,431 $141,321 $— $18,841 $775 $— $18,066 
Investments measured at Net Asset Value:
Real estate collective funds51,961 — 
Pooled investment funds129,138 19,475 
Total Investments at Fair Value$333,851 $38,316 
The fair values of our pension plan assets at October 31, 2021 by asset category are in the table below:
United StatesInternational
TotalLevel 1Level 2Level 3TotalLevel 1Level 2Level 3
Cash$1,467 $1,467 $— $— $519 $519 $— $— 
Money market funds4,495 4,495 — — — — — — 
Equity securities:
Basic materials2,038 2,038 — — — — — — 
Consumer goods4,360 4,360 — — — — — — 
Financial3,753 3,753 — — — — — — 
Healthcare4,864 4,864 — — — — — — 
Industrial goods3,640 3,640 — — — — — — 
Technology5,080 5,080 — — — — — — 
Mutual funds52,319 52,319 — — — — — — 
Fixed income securities:
U.S.  Government89,614 4,024 85,590 — — — — — 
Corporate194,793 — 194,793 — — — — — 
Other9,619 — 9,619 — — — — — 
Other types of investments:
Insurance contracts— — — — 23,993 — — 23,993 
Other1,494 1,494 — — — — — — 
Total investments in the fair value hierarchy$377,536 $87,534 $290,002 $— $24,512 $519 $— $23,993 
Investments measured at Net Asset Value:
Real estate collective funds44,056 —
Pooled investment funds217,997 22,762 
Total Investments at Fair Value$639,589 $47,274 
Change in Level 3 Fair Value of Plan Assets
The following tables present an analysis of changes during the years ended October 31, 2022 and 2021 in Level 3 plan assets, by plan asset class, for U.S. and international pension plans using significant unobservable inputs to measure fair value:
Fair Value Measurements
Using Significant Unobservable
Inputs (Level 3)
Insurance
contracts
Beginning balance at October 31, 2021$23,993 
Actual return on plan assets:
Purchases1,525 
Sales(1,519)
Settlements(1,446)
Unrealized losses(254)
Foreign currency translation(4,233)
Ending balance at October 31, 2022$18,066 
Fair Value Measurements
Using Significant Unobservable
Inputs (Level 3)
Insurance
contracts
Beginning balance at October 31, 2020$24,496 
Actual return on plan assets:
Purchases1,441 
Sales(541)
Settlements(714)
Unrealized losses(440)
Foreign currency translation(249)
Ending balance at October 31, 2021$23,993 
Retiree Pension Benefit Payments
Retiree pension benefit payments, which include expected future service, are anticipated to be paid as follows:
YearUnited StatesInternational
2023$6,925 $2,425 
20248,728 2,790 
202510,834 3,466 
202612,863 4,060 
202714,835 2,783 
2026-2030103,524 17,257 
Retirement Plans  
Reconciliation of the Benefit Obligations, Plan Assets, Accrued Benefit Cost and the Amount Recognized in Financial Statements for Pension Plans
A reconciliation of the benefit obligations, accrued benefit cost and the amount recognized in financial statements for other postretirement plans is as follows:
 United StatesInternational
 2022202120222021
Change in benefit obligation:    
Benefit obligation at beginning of year$85,290 $87,645 $416 $445 
Service cost687 778 12 15 
Interest cost1,923 1,805 12 12 
Participant contributions687 722 — — 
Foreign currency exchange rate change— — (37)33 
Actuarial gain(25,513)(2,799)(215)(83)
Benefits paid(3,223)(2,861)(5)(6)
Benefit obligation at end of year$59,851 $85,290 $183 $416 
Change in plan assets:
Beginning fair value of plan assets$— $— $— $— 
Company contributions2,536 2,139 5 6 
Participant contributions687 722 — — 
Benefits paid(3,223)(2,861)(5)(6)
Ending fair value of plan assets$— $— $— $— 
Funded status at end of year$(59,851)$(85,290)$(183)$(416)
Amounts recognized in financial statements:
Accrued benefit liability$(3,224)$(3,048)$(6)$(6)
Long-term postretirement obligations(56,627)(82,242)(177)(410)
Total amount recognized in financial statements$(59,851)$(85,290)$(183)$(416)
 United StatesInternational
 2022202120222021
Amounts recognized in accumulated other comprehensive (gain) loss:
Net actuarial (gain) loss$(5,035)$21,456 $(661)$(543)
Accumulated other comprehensive (gain) loss$(5,035)$21,456 $(661)$(543)
Summary of Accumulated Other Comprehensive Loss
The following table summarizes the changes in accumulated other comprehensive (gain) loss:
 United StatesInternational
 2022202120222021
Balance at beginning of year$21,456 $25,614 $(543)$(466)
Net gain arising during the year(25,513)(2,799)(217)(83)
Net gain (loss) recognized during the year(978)(1,359)51 41 
Exchange rate effect during the year— — 48 (35)
Balance at end of year$(5,035)$21,456 $(661)$(543)
Components of Net Periodic Benefits Cost
Net postretirement benefit costs include the following components:
 United StatesInternational
 202220212020202220212020
Service cost$687 $778 $666 $12 $15 $15 
Interest cost1,923 1,805 2,345 12 12 13 
Amortization of prior service credit— — (17)— — — 
Amortization of net actuarial (gain) loss978 1,359 1,355 (48)(41)(36)
Total benefit cost (credit)$3,588 $3,942 $4,349 $(24)$(14)$(8)
Weighted Average Assumptions Representing the Rates Used to Develop the Actuarial Present Value of Projected Benefit Obligation and the Net Periodic Benefit Costs
The weighted average assumptions used in the valuation of postretirement benefits were as follows:
 United StatesInternational
 202220212020202220212020
Assumptions used to determine benefit obligations at October 31:
Discount rate5.59 %2.98 %2.84 %5.41 %3.43 %2.94 %
Health care cost trend rate3.50 3.34 3.40 4.65 4.43 4.22 
Rate to which health care cost trend rate is assumed to incline/decline (ultimate trend rate)3.19 3.15 3.17 4.05 4.05 4.05 
Year the rate reaches the ultimate trend rate203220312026204020402040
Assumption used to determine net benefit costs for the years ended October 31:
Discount rate benefit obligation2.98 %2.84 %3.27 %3.43 %2.94 %3.03 %
Discount rate service cost3.55 3.44 3.61 3.48 3.00 3.05 
Discount rate interest cost2.30 2.08 2.79 3.13 2.60 2.88 
Retiree Pension Benefit Payments
Retiree postretirement benefit payments are anticipated to be paid as follows:
YearUnited StatesInternational
2023$3,225 $5 
20243,386 5 
20253,552 5 
20263,690 5 
20273,832 5 
2028-203020,438 34