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Retirement, Pension and Other Postretirement Plans (Tables)
 12 Months Ended
Oct. 31, 2023
Summary of Accumulated Other Comprehensive Loss Accumulated other comprehensive loss at October 31, 2023 and 2022 consisted of:
Cumulative
translation
adjustments		Pension and
postretirement benefit
plan adjustments		Accumulated
other comprehensive
loss
Balance at October 31, 2022$(160,046)$(47,736)$(207,782)
Pension and postretirement plan changes, net of tax of $4,774
— (15,425)(15,425)
Currency translation losses26,766 — 26,766 
Balance at October 31, 2023$(133,280)$(63,161)$(196,441)
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
2023202220232022
Change in benefit obligation:    
Benefit obligation at beginning of year$303,520 $627,271 $60,880 $106,049 
Service cost10,973 16,820 1,096 1,693 
Interest cost16,699 14,486 2,513 1,105 
Participant contributions— — 79 72 
Settlements(1,499)(171,181)(607)(1,446)
Curtailments— (2,715)(2)(705)
Foreign currency exchange rate change— — 3,566 (14,291)
Actuarial (gain) loss(4,120)(165,697)(2,361)(29,414)
Benefits paid(6,387)(15,464)(2,351)(2,183)
Benefit obligation at end of year$319,186 $303,520 $62,813 $60,880 
Change in plan assets:
Beginning fair value of plan assets$333,851 $639,589 $38,316 $47,274 
Actual return on plan assets(6,307)(121,912)117 301 
Company contributions2,018 2,819 2,429 2,381 
Participant contributions— — 79 72 
Settlements(1,499)(171,181)(607)(1,446)
Foreign currency exchange rate change— — 1,880 (8,083)
Benefits paid(6,387)(15,464)(2,351)(2,183)
Ending fair value of plan assets$321,676 $333,851 $39,863 $38,316 
Funded status at end of year$2,490 $30,331 $(22,950)$(22,564)
Amounts recognized in financial statements:
Noncurrent asset$11,473 $41,548 $9,991 $7,588 
Accrued benefit liability(1,494)(813)(5)(5)
Long-term pension obligations(7,489)(10,404)(32,936)(30,147)
Total amount recognized in financial statements$2,490 $30,331 $(22,950)$(22,564)
 
The net actuarial gain included in the projected benefit obligation for the United States pension plans for 2023 was primarily due to higher discount rates partially offset by losses due to demographic experience. 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.
Amounts recognized in accumulated other comprehensive loss (income):
 United StatesInternational
 2023202220232022
Net actuarial loss (gain)$102,506 $74,293 $(3,122)$(2,280)
Prior service cost (credit)— — (91)(133)
Accumulated other comprehensive loss (income)$102,506 $74,293 $(3,213)$(2,413)
Summary of Accumulated Other Comprehensive Loss
The following table summarizes the changes in accumulated other comprehensive loss (income): 
United StatesInternational
2023202220232022
Balance at beginning of year$74,293 $142,118 $(2,413)$28,736 
Net loss (gain) arising during the year28,303 (16,010)(943)(28,234)
Net (gain) recognized during the year— (7,504)(79)(2,278)
Prior service adjustment recognized during the year— (48)50 104 
Settlement (gain) loss(90)(41,548)425 29 
Curtailment (gain) loss— (2,715)2 1,406 
Exchange rate effect during the year— — (255)(2,176)
Balance at end of year$102,506 $74,293 $(3,213)$(2,413)
Accumulated Benefit Obligation
Information regarding the funded status of the Company's plans is as follows:
United StatesInternational
2023202220232022
For plans with accumulated benefit obligation in excess of plan assets:
Accumulated benefit obligation$8,703 $10,555 $36,413 $32,514 
Fair value of plan assets— — 5,115 4,724 
For plans with projected benefit obligation in excess of plan assets:
Projected benefit obligation8,983 11,217 38,039 34,931 
Fair value of plan assets— — 5,115 4,778 
Components of Net Periodic Benefits Cost
Net periodic pension costs include the following components:
United StatesInternational
202320222021202320222021
Service cost$10,973 $16,820 $22,555 $1,096 $1,693 $2,120 
Interest cost16,699 14,486 13,652 2,513 1,105 887 
Expected return on plan assets(26,116)(27,776)(28,410)(1,532)(1,430)(1,585)
Amortization of prior service credit— 48 (64)(50)(104)(303)
Amortization of net actuarial loss— 7,504 14,885 79 2,278 3,144 
Settlement loss (gain)90 41,548 4,111 (425)(29)32 
Curtailment gain— — — (2)(2,112)— 
Total benefit cost$1,646 $52,630 $26,729 $1,679 $1,401 $4,295 
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
202320222021202320222021
Assumptions used to determine benefit obligations at October 31:
Discount rate6.08 %5.70 %3.02 %4.35 %3.78 %1.30 %
Rate of compensation increase3.92 4.30 4.00 2.96 3.44 2.90 
Assumptions used to determine net benefit costs for the years ended October 31:
Discount rate - benefit obligation5.70 3.02 2.85 3.78 1.30 1.01 
Discount rate - service cost5.89 3.42 3.30 2.88 1.14 0.93 
Discount rate - interest cost5.37 2.35 2.10 3.85 1.37 0.80 
Expected return on plan assets6.40 5.75 5.75 3.75 3.29 3.31 
Rate of compensation increase3.87 4.00 4.00 3.44 2.90 2.69 
Allocation of Pension Plan Assets
The allocation of pension plan assets as of October 31, 2023 and 2022 is as follows:
 United StatesInternational
 2023202220232022
Asset Category
Equity securities3 %3 %— %— %
Debt securities43 42 — — 
Insurance contracts— — 31 47 
Pooled investment funds53 54 67 51 
Other1 1 2 2 
Total100 %100 %100 %100 %
Fair Values of Pension Plan Assets
The fair values of our pension plan assets at October 31, 2023 by asset category are in the table below:
United StatesInternational
TotalLevel 1Level 2Level 3TotalLevel 1Level 2Level 3
Cash$355 $355 $— $— $777 $777 $— $— 
Money market funds251 251 — — — — — — 
Equity securities:
Basic materials632 632 — — — — — — 
Consumer goods1,614 1,614 — — — — — — 
Financial1,787 1,787 — — — — — — 
Healthcare1,368 1,368 — — — — — — 
Industrial goods1,403 1,403 — — — — — — 
Technology1,732 1,732 — — — — — — 
Fixed income securities:
U.S. Government42,269 753 41,516 — — — — — 
Corporate94,650 — 94,650 — — — — — 
Other2,640 — 2,640 — — — — — 
Other types of investments:
Insurance contracts— — — — 12,224 — — 12,224 
Other2,092 2,092 — — — — — — 
Total investments in the fair value hierarchy$150,793 $11,987 $138,806 $— $13,001 $777 $— $12,224 
Investments measured at Net Asset Value:
Real estate collective funds42,780 — 
Pooled investment funds128,103 26,862 
Total Investments at Fair Value$321,676 $39,863 
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 
Change in Level 3 Fair Value of Plan Assets
The following tables present an analysis of changes during the years ended October 31, 2023 and 2022 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, 2022$18,066 
Actual return on plan assets:
Purchases1,320 
Sales(8,007)
Settlements(607)
Unrealized losses266 
Foreign currency translation1,186 
Ending balance at October 31, 2023$12,224 
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 
Retiree Pension Benefit Payments
Retiree pension benefit payments, which include expected future service, are anticipated to be paid as follows:
YearUnited StatesInternational
2024$9,620 $2,716 
202511,828 3,082 
202612,922 4,930 
202714,992 3,740 
202817,055 3,533 
2029-2033112,222 19,527 
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
 2023202220232022
Change in benefit obligation:    
Benefit obligation at beginning of year$59,851 $85,290 $183 $416 
Service cost399 687 5 12 
Interest cost3,063 1,923 11 12 
Participant contributions614 687 — — 
Foreign currency exchange rate change— — 10 (37)
Actuarial (gain) loss(7,301)(25,513)35 (215)
Benefits paid(3,193)(3,223)(8)(5)
Benefit obligation at end of year$53,433 $59,851 $236 $183 
Change in plan assets:
Beginning fair value of plan assets$— $— $— $— 
Company contributions2,579 2,536 8 5 
Participant contributions614 687 — — 
Benefits paid(3,193)(3,223)(8)(5)
Ending fair value of plan assets$— $— $— $— 
Funded status at end of year$(53,433)$(59,851)$(236)$(183)
Amounts recognized in financial statements:
Accrued benefit liability$(2,800)$(3,224)$(7)$(6)
Long-term postretirement obligations(50,633)(56,627)(229)(177)
Total amount recognized in financial statements$(53,433)$(59,851)$(236)$(183)
 United StatesInternational
 2023202220232022
Amounts recognized in accumulated other comprehensive (gain) loss:
Net actuarial (gain) loss$(12,336)$(5,035)$(540)$(661)
Accumulated other comprehensive (gain) loss$(12,336)$(5,035)$(540)$(661)
Summary of Accumulated Other Comprehensive Loss
The following table summarizes the changes in accumulated other comprehensive (gain) loss:
 United StatesInternational
 2023202220232022
Balance at beginning of year$(5,035)$21,456 $(661)$(543)
Net (gain) loss arising during the year(7,301)(25,513)35 (217)
Net gain (loss) recognized during the year— (978)62 51 
Exchange rate effect during the year— — 24 48 
Balance at end of year$(12,336)$(5,035)$(540)$(661)
Components of Net Periodic Benefits Cost
Net postretirement benefit costs include the following components:
 United StatesInternational
 202320222021202320222021
Service cost$399 $687 $778 $5 $12 $15 
Interest cost3,063 1,923 1,805 11 12 12 
Amortization of prior service credit— — — — — — 
Amortization of net actuarial (gain) loss— 978 1,359 (62)(48)(41)
Total benefit cost (credit)$3,462 $3,588 $3,942 $(46)$(24)$(14)
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
 202320222021202320222021
Assumptions used to determine benefit obligations at October 31:
Discount rate6.02 %5.59 %2.98 %5.63 %5.41 %3.43 %
Health care cost trend rate3.40 3.50 3.34 4.86 4.65 4.43 
Rate to which health care cost trend rate is assumed to incline/decline (ultimate trend rate)3.16 3.19 3.15 4.05 4.05 4.05 
Year the rate reaches the ultimate trend rate203220322031204020402040
Assumption used to determine net benefit costs for the years ended October 31:
Discount rate benefit obligation5.59 %2.98 %2.84 %5.41 %3.43 %2.94 %
Discount rate service cost6.00 3.55 3.44 5.41 3.48 3.00 
Discount rate interest cost5.22 2.30 2.08 5.38 3.13 2.60 
Retiree Pension Benefit Payments
Retiree postretirement benefit payments are anticipated to be paid as follows:
YearUnited StatesInternational
2024$2,801 $7 
20252,958 7 
20263,125 7 
20273,295 7 
20283,416 7 
2029-203418,791 58