Employee Benefit Plan (Tables)

12 Months Ended

Oct. 31, 2018

Obligations and Funded Status of U.S. Plans at October 31



	Pension Benefits						Other Post Retirement Benefits
	2018			2017			2018			2017
Change in benefit obligation:
Benefit obligation at beginning of year	$	(89,063	)	$	(90,784	)	$	(313	)	$	(372	)
Interest cost	(3,166		)	(3,282		)	(11		)	(13		)
Actuarial gain	7,849			576			12			28
Benefits paid	4,482			4,427			29			44
Benefit obligation at end of year	(79,898		)	(89,063		)	(283		)	(313		)
Change in plan assets:
Fair value of plan assets at beginning of year	69,215			64,458			—			—
Actual return on plan assets	468			9,184			—			—
Employer contributions	445			—			29			44
Benefits paid	(4,482		)	(4,427		)	(29		)	(44		)
Fair value of plan assets at end of year	65,646			69,215			—			—
Funded status, benefit obligations in excess of plan assets	$	(14,252	)	$	(19,848	)	$	(283	)	$	(313	)

Amounts Recorded in the Liability Section of the Consolidated Balance Sheet

The above amounts are recorded in the liabilities section of the consolidated balance sheets as follows:



	Pension Benefits						Other Post Retirement Benefits
	2018			2017			2018			2017
Other accrued expenses (1)	$	—		$	—		$	(39	)	$	(38	)
Long-term benefit liabilities	(14,252		)	(19,848		)	(244		)	(275		)
Total	$	(14,252	)	$	(19,848	)	$	(283	)	$	(313	)

(1) As pension assets exceed expected benefit payments over the next year, liabilities for the pension plan are considered long-term.

Components of Net Periodic Benefit Cost



Components of Net Periodic Benefit Cost U.S. Plans
	Pension Benefits									Other Post Retirement Benefits
	2018			2017			2016			2018		2017		2016
Interest cost	$	3,166		$	3,282		$	3,566		$	11	$	13	$	16
Expected return on plan assets	(3,357		)	(3,455		)	(4,568		)	—		—		—
Amortization of net actuarial loss	1,311			1,508			1,239			7		10		12
Net periodic benefit cost	$	1,120		$	1,335		$	237		$	18	$	23	28

Amortization of Net Actuarial Loss

We expect to recognize in the consolidated statements of operations the following amounts that will be amortized from accumulated other comprehensive loss in fiscal 2019.




	Pension Benefits		Other Post Retirement Benefits
Amortization of net actuarial loss	$	1,150	$	6

Net Actuarial Loss in Other Comprehensive Income

We have recognized the following cumulative pre-tax actuarial losses, prior service costs and transition obligations in accumulated other comprehensive loss:



	Pension Benefits				Other Post Retirement Benefits
	2018		2017		2018		2017

Net actuarial loss	$	37,710	$	43,982	$	64	$	84

Recognized in accumulated other comprehensive loss	$	37,710	$	43,982	$	64	$	84

The following table provides additional details of the amounts recognized into net earnings from accumulated other comprehensive loss, net of tax:



		Pension and Post Retirement Plan Liability (1)			Marketable Securities Adjustment			Interest Rate Swap Adjustment (2)			Foreign Currency Translation Adjustment (3)			Accumulated Other Comprehensive Loss
Balance at October 31, 2016		$	(32,659	)	$	(466	)	$	(3,112	)	$	(20,225	)	$	(56,462	)
	Other comprehensive income, net of tax	6,333			29			392			7,156			13,910
	Amounts reclassified from accumulated other comprehensive loss, net of tax	(1,521		)	435			1,401			—			315
	Net current-period other comprehensive income	4,812			464			1,793			7,156			14,225
Balance at October 31, 2017		$	(27,847	)	$	(2	)	$	(1,319	)	$	(13,069	)	$	(42,237	)
	Other comprehensive income (loss), net of tax	(124		)	(131		)	864			(8,810		)	(8,201		)
	Amounts reclassified from accumulated other comprehensive loss, net of tax	4,972			122			772			—			5,866
	Net current-period other comprehensive income (loss)	4,848			(9		)	1,636			(8,810		)	(2,335		)
	Reclassification to retained earnings (4)	(6,138		)	(7		)	(213		)	—			(6,358		)
Balance at October 31, 2018		$	(29,137	)	$	(18	)	$	104		$	(21,879	)	$	(50,930	)

(1) Amounts reclassified from accumulated other comprehensive loss, net of tax are classified with manufacturing expenses included in cost of goods sold on the statements of operations.

(2) Amounts reclassified from accumulated other comprehensive income loss, net of tax are classified with interest expense included on the statements of operations.

(3) The net investment derivative instrument is recognized in accumulated other comprehensive loss and reclassified to income in the same period when a gain or loss related to that net investment in foreign operation is included in income.

(4) During fiscal 2018, the Company early adopted the ASU 2018-02, "Income Statement - Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income." As a result, the stranded tax effects resulting from the TCJA enacted in December 2017 were reclassified from accumulated other comprehensive loss to retained earnings.

Minimum Liability Included in Other Comprehensive Income

Additional Information on U.S. Plans



	Pension Benefits						Other Post Retirement Benefits
	2018			2017			2018			2017
Increase (decrease) in minimum liability included in other comprehensive income (loss)	$	(6,272	)	$	(7,813	)	$	(20	)	$	(38	)

Assumptions

Assumptions for U.S. Plans:



Weighted-average assumptions used to determine benefit obligations at October 31	Pension Benefits						Other Post Retirement Benefits
	2018		2017		2016		2018		2017		2016
Discount rate	4.35	%	3.65	%	3.70	%	4.35	%	3.65	%	3.70	%



	Pension Benefits						Other Post Retirement Benefits
Weighted-average assumptions used to determine net periodic benefit costs for years ended October 31	2018		2017		2016		2018		2017		2016
Discount rate	3.65	%	3.70	%	4.20	%	3.65	%	3.70	%	3.70	%
Expected long-term return on plan assets	6.50	%	6.50	%	7.50	%	—		—		—

Assumed Health Care Cost Trend Rates



	October 31,
Assumed health care trend rates	2018	2017
Health care cost trend rate assumed for next year	7.0%	7.0%
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate)	4.5%	4.5%
Year that the rate reaches the ultimate trend rate	2027	2026

Effect of One-Percentage-Point Change in Assumed Health Care Cost Trend Rates

A one-percentage point change in assumed healthcare cost trend rates would have the following effects at October 31, 2018:



	One-Percentage Point Increase		One-Percentage Point Decrease
Effect on total of service and interest cost components	$	3	$	(2	)
Effect on post retirement obligation	$	19	$	(17	)

Allocation of Plan Assets

pension plan weighted-average asset allocations at October 31, 2018 and 2017, by asset category and comparison to the target allocation percentage are as follows:



	Target Allocation Percentage	Plan Assets at October 31,
	Target Allocation Percentage	2018	2017
Asset Category
Equity securities	30-70%	59%	60%
Debt securities	30-70%	35%	34%
Real estate	0-10%	6%	6%
Total		100%	100%

Investments Measured At Fair Value

Investments totaling $65,646 at October 31, 2018 and $69,215 at October 31, 2017 measured at fair value on a recurring basis are summarized below:



			Fair Value Measurements				Fair Value Measurements
			October 31, 2018				October 31, 2017
			Quoted Prices in Active Markets for Identical Assets (Level 1) Market Valuation Technique		Plan Assets Measured at Net Asset Value		Quoted Prices in Active Markets for Identical Assets (Level 1) Market Valuation Technique		Plan Assets Measured at Net Asset Value

U.S. Plans
Investments
	Equity
		Large U.S. Equity	$	14,269	$	5,131	$	16,778	$	6,381
		Small/Mid U.S. Equity	7,540		601		8,340		694
		International Equity	10,062		—		9,169		—
	Fixed Income
		Money Market	—		754		—		314
		Corporate	18,963		4,144		18,876		4,513
	Real Estate (Primarily Commercial)		—		4,182		—		4,150
Total Investments			$	50,834	$	14,812	$	53,163	$	16,052

Estimated Future Benefit Payments

The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid by the plans:



	Pension Benefits			Other Benefits
2018		$	5,040		$	39
2019		4,290			39
2020		4,230			27
2021		4,800			26
2022		4,930			24
2023-2026		$	24,940		$	97