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Employee Retirement Plans
 12 Months Ended
Oct. 31, 2019
Retirement Benefits [Abstract]  
Employee Retirement Plans
15
Employee Retirement Plans
Defined Contribution 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 $23.4 million, $18.8 million, and $17.9 million for the fiscal years ended October 31, 2019, 2018, and 2017, respectively. The increase in expense for the year ended October 31, 2019, as compared to the year ended October 31, 2018, was primarily
due to the company's acquisition of CMW during the company's fiscal 2019 second quarter. Refer to Note 2, Business Combinations, for additional information regarding the company's acquisition of CMW.
Defined Benefit Plans
The company has defined benefit, supplemental, and other retirement plans covering certain employees in the U.S. and the United Kingdom ("retirement plans"). The projected benefit obligation and accumulated benefit obligation of the retirement plans were $39.5 million and $36.3 million, as of October 31, 2019 and 2018, respectively. The net liability amount recognized in the Consolidated Balance Sheets for the retirement plans was $1.4 million and $5.1 million as of October 31, 2019, respectively. The fair value of the retirement plans assets as of October 31, 2019 and 2018 was $38.0 million and $33.2 million, respectively. The net funded status of these plans as of October 31, 2019 and 2018 was underfunded at $1.5 million and $3.1 million, respectively.
Service costs of these plans are presented in selling, general and administrative expense within the Consolidated Statements of Earnings. Non-service cost components of net periodic benefit cost (income), including realized gains or losses as a result of changes in actuarial valuation assumptions, are presented in other income, net within the Consolidated Statements of Earnings. The company recognized income of $6.6 million for the fiscal year ended October 31, 2019 and recognized expense of $0.2 million and $1.5 million for the fiscal years ended October 31, 2018 and 2017, respectively, within the Consolidated Statements of Earnings for the retirement plans.
Amounts recognized in AOCL consisted of (in thousands):
Fiscal Years Ended October 31
 
Defined Benefit
Pension Plans
 
Post-Retirement
Benefit Plan
 
Total
2019
 
 

 
 

 
 

Net actuarial loss
 
$
4,861

 
$
—

 
$
4,861

Accumulated other comprehensive loss
 
$
4,861

 
$
—

 
$
4,861

2018
 
 

 
 

 
 

Net actuarial loss (gain)
 
$
4,632

 
$
(4,071
)
 
$
561

Accumulated other comprehensive loss (income)
 
$
4,632

 
$
(4,071
)
 
$
561


The following amounts are included within AOCL as of October 31, 2019 and are expected to be recognized as components of net periodic benefit (income) cost during fiscal 2020 (in thousands):
October 31, 2019
 
Defined Benefit
Pension Plans
 
Post-Retirement
Benefit Plan
 
Total
Net actuarial gain
 
$
(139
)
 
$
—

 
$
(139
)
Total net periodic benefit income
 
$
(139
)
 
$
—

 
$
(139
)

Amounts recognized in net periodic benefit cost (income) and other comprehensive loss (income) consisted of (in thousands):
Fiscal Year Ended October 31
 
Defined Benefit
Pension Plans
 
Post-Retirement
Benefit Plan
 
Total
2019
 
 

 
 

 
 

Net actuarial loss (gain)
 
$
154

 
$
(1,138
)
 
$
(984
)
Amortization of unrecognized actuarial gain
 
71

 
5,213

 
5,284

Total recognized in other comprehensive income
 
$
225

 
$
4,075

 
$
4,300

Total recognized in net periodic benefit cost (income) and other comprehensive loss (income)
 
$
396

 
$
(2,653
)
 
$
(2,257
)

Fiscal Year 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 (income) and other comprehensive loss (income)
 
$
106

 
$
(1,322
)
 
$
(1,216
)

The company has omitted the remaining disclosures for its retirement plans as the company deems these retirement plans to be immaterial to its Consolidated Financial Statements.