

10	EMPLOYEE RETIREMENT PLANS

The company maintains The Toro Company Investment, Savings, and Employee Stock Ownership Plan for eligible employees. The company's expenses under this plan were $18.8 million, $17.9 million, and $17.0 million for the fiscal years ended October 31, 2018, 2017, and 2016, respectively.

In addition, the company and its subsidiaries have defined benefit, supplemental, and other retirement plans covering certain employees in the U.S. and the United Kingdom. The projected benefit obligation of these plans as of October 31, 2018 and 2017 was $36.3 million and $41.4 million, respectively, and the net liability amount recognized in the Consolidated Balance Sheets as of October 31, 2018 and 2017 was $5.1 million and $4.6 million, respectively. The accumulated benefit obligation of these plans as of October 31, 2018 and 2017 was $36.3 million and $41.4 million, respectively. The fair value of the plan assets as of October 31, 2018 and 2017 was $33.2 million and $35.2 million, respectively. The net funded status of these plans as of October 31, 2018 and 2017 was underfunded at $3.1 million and $6.2 million, respectively. The net expense recognized in the Consolidated Financial Statements for these plans was $0.2 million, $1.5 million, and $1.2 million for the fiscal years ended October 31, 2018, 2017, and 2016, respectively.

Amounts recognized in AOCL consisted of (in thousands):



Fiscal Years Ended October 31	Defined Benefit Pension Plans		Post-Retirement Benefit Plan			Total
2018
Net actuarial loss (gain)	$	4,632	$	(4,071	)	$	561
Accumulated other comprehensive loss (income)	$	4,632	$	(4,071	)	$	561
2017
Net actuarial loss (gain)	$	4,998	$	(2,986	)	$	2,012
Accumulated other comprehensive loss (income)	$	4,998	$	(2,986	)	$	2,012

The following amounts are included within AOCL as of October 31, 2018 and are expected to be recognized as components of net periodic benefit cost during fiscal 2019 (in thousands):



October 31, 2018	Defined Benefit Pension Plans		Post-Retirement Benefit Plan			Total
Net actuarial loss (gain)	$	133	$	(413	)	$	(280	)
Total	$	133	$	(413	)	$	(280	)

Amounts recognized in net periodic benefit cost and other comprehensive loss (income) consisted of (in thousands):



Fiscal Years Ended October 31	Defined Benefit Pension Plans			Post-Retirement Benefit Plan			Total
2018
Net actuarial (gain)	$	(277	)	$	(745	)	$	(1,022	)
Amortization of unrecognized actuarial gain (loss)	(300		)	287			(13		)
Total recognized in other comprehensive income	$	(577	)	$	(458	)	$	(1,035	)
Total recognized in net periodic benefit cost and other comprehensive loss (income)	$	106		$	(1,322	)	$	(1,216	)



Fiscal Years Ended October 31	Defined Benefit Pension Plans			Post-Retirement Benefit Plan			Total
2017
Net actuarial (gain)	$	(280	)	$	(3,534	)	$	(3,814	)
Prior service cost	51			—			51
Amortization of unrecognized prior service credit	(360		)	—			(360		)
Amortization of unrecognized actuarial (loss)	(219		)	(5		)	(224		)
Total recognized in other comprehensive income	$	(808	)	$	(3,539	)	$	(4,347	)
Total recognized in net periodic benefit cost and other comprehensive loss (income)	$	22		$	(2,892	)	$	(2,870	)

The company has omitted the remaining disclosures for its defined benefit plans and post-retirement healthcare plan as the company deems these plans to be immaterial to its Consolidated Financial Position and Results of Operations.